WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:12.150 align:start position:0% [Applause] 00:00:12.150 --> 00:00:12.160 align:start position:0% 00:00:12.160 --> 00:00:14.860 align:start position:0% the<00:00:13.160> title<00:00:13.610> of<00:00:13.700> the<00:00:13.820> workshop<00:00:14.000> it's<00:00:14.450> legal 00:00:14.860 --> 00:00:14.870 align:start position:0% the title of the workshop it's legal 00:00:14.870 --> 00:00:17.380 align:start position:0% the title of the workshop it's legal troubleshooting<00:00:15.559> for<00:00:15.710> these<00:00:15.920> projects<00:00:16.490> and 00:00:17.380 --> 00:00:17.390 align:start position:0% troubleshooting for these projects and 00:00:17.390 --> 00:00:19.240 align:start position:0% troubleshooting for these projects and before<00:00:17.779> I<00:00:17.810> say<00:00:18.140> a<00:00:18.170> few<00:00:18.470> words<00:00:18.680> about<00:00:18.860> myself 00:00:19.240 --> 00:00:19.250 align:start position:0% before I say a few words about myself 00:00:19.250 --> 00:00:22.420 align:start position:0% before I say a few words about myself I'd<00:00:19.700> like<00:00:19.910> to<00:00:20.180> learn<00:00:21.110> a<00:00:21.380> bit<00:00:21.560> more<00:00:21.590> about<00:00:21.800> you 00:00:22.420 --> 00:00:22.430 align:start position:0% I'd like to learn a bit more about you 00:00:22.430 --> 00:00:26.950 align:start position:0% I'd like to learn a bit more about you and<00:00:22.730> also<00:00:23.630> test<00:00:24.200> out<00:00:24.500> a<00:00:25.270> polling<00:00:26.270> system<00:00:26.509> that 00:00:26.950 --> 00:00:26.960 align:start position:0% and also test out a polling system that 00:00:26.960 --> 00:00:30.970 align:start position:0% and also test out a polling system that will<00:00:27.169> be<00:00:27.320> necessary<00:00:27.890> for<00:00:29.320> for<00:00:30.320> dysfunctional 00:00:30.970 --> 00:00:30.980 align:start position:0% will be necessary for for dysfunctional 00:00:30.980 --> 00:00:35.410 align:start position:0% will be necessary for for dysfunctional so<00:00:31.700> can<00:00:32.300> everyone<00:00:32.570> see<00:00:32.899> the<00:00:33.110> screen<00:00:34.420> please 00:00:35.410 --> 00:00:35.420 align:start position:0% so can everyone see the screen please 00:00:35.420 --> 00:00:40.630 align:start position:0% so can everyone see the screen please visit<00:00:35.860> this<00:00:36.860> website<00:00:38.770> at<00:00:39.770> this<00:00:40.010> link<00:00:40.070> will<00:00:40.489> be 00:00:40.630 --> 00:00:40.640 align:start position:0% visit this website at this link will be 00:00:40.640 --> 00:00:43.299 align:start position:0% visit this website at this link will be able<00:00:40.670> to<00:00:40.969> vote<00:00:41.449> like<00:00:42.440> answer<00:00:42.800> the<00:00:42.920> questions 00:00:43.299 --> 00:00:43.309 align:start position:0% able to vote like answer the questions 00:00:43.309 --> 00:00:45.520 align:start position:0% able to vote like answer the questions it<00:00:43.730> will<00:00:43.850> appear<00:00:44.149> on<00:00:44.179> the<00:00:44.359> screen<00:00:44.600> in<00:00:44.899> case<00:00:45.199> you 00:00:45.520 --> 00:00:45.530 align:start position:0% it will appear on the screen in case you 00:00:45.530 --> 00:00:48.209 align:start position:0% it will appear on the screen in case you can't<00:00:45.710> have<00:00:45.859> enter<00:00:46.100> information<00:00:46.699> you<00:00:46.850> find 00:00:48.209 --> 00:00:48.219 align:start position:0% can't have enter information you find 00:00:48.219 --> 00:00:50.770 align:start position:0% can't have enter information you find details<00:00:49.219> of<00:00:49.399> one<00:00:49.609> network<00:00:49.820> over<00:00:50.239> there<00:00:50.449> but 00:00:50.770 --> 00:00:50.780 align:start position:0% details of one network over there but 00:00:50.780 --> 00:00:54.189 align:start position:0% details of one network over there but its<00:00:50.960> maximum<00:00:51.829> in<00:00:51.949> 50<00:00:52.280> comments<00:00:52.579> so<00:00:53.449> use<00:00:53.989> your 00:00:54.189 --> 00:00:54.199 align:start position:0% its maximum in 50 comments so use your 00:00:54.199 --> 00:00:58.090 align:start position:0% its maximum in 50 comments so use your own<00:00:54.379> internet<00:00:55.179> and<00:00:56.179> don't<00:00:56.660> try<00:00:57.260> this<00:00:57.320> one 00:00:58.090 --> 00:00:58.100 align:start position:0% own internet and don't try this one 00:00:58.100 --> 00:01:05.500 align:start position:0% own internet and don't try this one [Music] 00:01:05.500 --> 00:01:05.510 align:start position:0% 00:01:05.510 --> 00:01:10.510 align:start position:0% and<00:01:06.510> by<00:01:07.080> this<00:01:07.140> question<00:01:07.500> I<00:01:07.890> just<00:01:08.100> mean<00:01:08.310> that 00:01:10.510 --> 00:01:10.520 align:start position:0% 00:01:10.520 --> 00:01:14.500 align:start position:0% that<00:01:11.520> you're<00:01:12.090> not<00:01:12.120> necessarily<00:01:12.330> part<00:01:13.110> of<00:01:13.350> the 00:01:14.500 --> 00:01:14.510 align:start position:0% that you're not necessarily part of the 00:01:14.510 --> 00:01:19.760 align:start position:0% that you're not necessarily part of the part<00:01:15.510> of<00:01:15.690> my<00:01:15.900> decline<00:01:16.500> defect<00:01:17.340> project<00:01:18.530> but<00:01:19.530> if 00:01:19.760 --> 00:01:19.770 align:start position:0% part of my decline defect project but if 00:01:19.770 --> 00:01:21.590 align:start position:0% part of my decline defect project but if you<00:01:19.950> are<00:01:20.100> like<00:01:20.310> interested<00:01:21.030> in<00:01:21.150> this<00:01:21.270> space 00:01:21.590 --> 00:01:21.600 align:start position:0% you are like interested in this space 00:01:21.600 --> 00:01:25.520 align:start position:0% you are like interested in this space you<00:01:22.050> want<00:01:22.440> to<00:01:22.620> work<00:01:22.830> in<00:01:22.950> this<00:01:23.070> space<00:01:24.320> you<00:01:25.320> are 00:01:25.520 --> 00:01:25.530 align:start position:0% you want to work in this space you are 00:01:25.530 --> 00:01:27.260 align:start position:0% you want to work in this space you are dealing<00:01:25.800> with<00:01:25.920> some<00:01:26.280> problems<00:01:26.670> related<00:01:26.970> to 00:01:27.260 --> 00:01:27.270 align:start position:0% dealing with some problems related to 00:01:27.270 --> 00:01:35.990 align:start position:0% dealing with some problems related to the<00:01:27.480> different<00:01:27.810> space<00:01:28.050> I<00:01:29.660> don't<00:01:30.660> have<00:01:35.000> all 00:01:35.990 --> 00:01:36.000 align:start position:0% the different space I don't have all 00:01:36.000 --> 00:01:47.260 align:start position:0% the different space I don't have all right<00:01:36.210> so<00:01:36.510> it's<00:01:37.380> working<00:01:37.800> right 00:01:47.260 --> 00:01:47.270 align:start position:0% 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device<00:01:57.630> have<00:01:57.870> more<00:01:58.110> interest<00:01:58.620> to<00:01:58.710> you<00:01:58.950> and 00:01:59.180 --> 00:01:59.190 align:start position:0% device have more interest to you and 00:01:59.190 --> 00:02:00.770 align:start position:0% device have more interest to you and here<00:01:59.490> you<00:01:59.580> should<00:01:59.760> be<00:01:59.910> able<00:01:59.970> to<00:02:00.150> type<00:02:00.510> a 00:02:00.770 --> 00:02:00.780 align:start position:0% here you should be able to type a 00:02:00.780 --> 00:02:03.260 align:start position:0% here you should be able to type a response<00:02:01.610> here<00:02:02.610> we<00:02:02.760> have<00:02:02.940> some<00:02:03.240> examples 00:02:03.260 --> 00:02:03.270 align:start position:0% response here we have some examples 00:02:03.270 --> 00:02:06.250 align:start position:0% response here we have some examples right<00:02:04.110> so<00:02:04.350> that<00:02:04.530> that<00:02:04.740> would<00:02:04.890> be<00:02:05.070> a<00:02:05.250> filling<00:02:05.700> of 00:02:06.250 --> 00:02:06.260 align:start position:0% right so that that would be a filling of 00:02:06.260 --> 00:02:23.770 align:start position:0% right so that that would be a filling of what's<00:02:07.260> most<00:02:07.860> interest<00:02:08.429> for<00:02:09.179> you<00:02:09.270> guys 00:02:23.770 --> 00:02:23.780 align:start position:0% 00:02:23.780 --> 00:02:39.949 align:start position:0% Texas 00:02:39.949 --> 00:02:39.959 align:start position:0% 00:02:39.959 --> 00:03:03.319 align:start position:0% rubycles<00:02:40.980> seems<00:02:41.370> likely<00:02:41.609> to<00:02:41.849> reflect<00:03:02.329> right 00:03:03.319 --> 00:03:03.329 align:start position:0% rubycles seems likely to reflect right 00:03:03.329 --> 00:03:05.720 align:start position:0% rubycles seems likely to reflect right and<00:03:03.569> the<00:03:03.989> last<00:03:04.170> question<00:03:04.349> to<00:03:04.799> you<00:03:04.829> guys<00:03:05.129> very 00:03:05.720 --> 00:03:05.730 align:start position:0% and the last question to you guys very 00:03:05.730 --> 00:03:09.860 align:start position:0% and the last question to you guys very based<00:03:06.239> and<00:03:06.629> here<00:03:06.959> I<00:03:07.730> rather<00:03:08.730> mean<00:03:09.030> like<00:03:09.629> where 00:03:09.860 --> 00:03:09.870 align:start position:0% based and here I rather mean like where 00:03:09.870 --> 00:03:12.440 align:start position:0% based and here I rather mean like where is<00:03:09.959> to<00:03:10.170> defend<00:03:10.590> project<00:03:11.069> based<00:03:11.340> right<00:03:12.209> or 00:03:12.440 --> 00:03:12.450 align:start position:0% is to defend project based right or 00:03:12.450 --> 00:03:14.690 align:start position:0% is to defend project based right or where<00:03:12.689> is<00:03:13.079> like<00:03:13.379> your<00:03:13.620> your<00:03:13.859> main<00:03:14.069> interests 00:03:14.690 --> 00:03:14.700 align:start position:0% where is like your your main interests 00:03:14.700 --> 00:03:16.729 align:start position:0% where is like your your main interests in<00:03:14.819> there<00:03:14.970> in<00:03:15.180> terms<00:03:15.359> of<00:03:15.569> like<00:03:15.810> different 00:03:16.729 --> 00:03:16.739 align:start position:0% in there in terms of like different 00:03:16.739 --> 00:03:20.059 align:start position:0% in there in terms of like different activity<00:03:17.689> so<00:03:18.689> we<00:03:18.810> may<00:03:18.959> need<00:03:19.019> to<00:03:19.230> even<00:03:19.799> live<00:03:20.040> in 00:03:20.059 --> 00:03:20.069 align:start position:0% activity so we may need to even live in 00:03:20.069 --> 00:03:22.610 align:start position:0% activity so we may need to even live in Japan<00:03:20.549> but<00:03:20.760> we're<00:03:20.939> working<00:03:21.269> on<00:03:21.480> US<00:03:22.200> bases<00:03:22.230> per 00:03:22.610 --> 00:03:22.620 align:start position:0% Japan but we're working on US bases per 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a<00:04:01.690> few<00:04:02.080> words<00:04:02.260> about<00:04:02.500> myself<00:04:03.030> I'll 00:04:04.020 --> 00:04:04.030 align:start position:0% so now a few words about myself I'll 00:04:04.030 --> 00:04:08.040 align:start position:0% so now a few words about myself I'll take<00:04:04.540> that<00:04:04.690> I'm<00:04:05.490> floating<00:04:06.490> in<00:04:06.730> that<00:04:06.880> lawyer<00:04:07.120> in 00:04:08.040 --> 00:04:08.050 align:start position:0% take that I'm floating in that lawyer in 00:04:08.050 --> 00:04:10.770 align:start position:0% take that I'm floating in that lawyer in crypto<00:04:08.500> for<00:04:08.530> no<00:04:09.010> more<00:04:09.160> than<00:04:09.220> five<00:04:09.400> years<00:04:09.780> and 00:04:10.770 --> 00:04:10.780 align:start position:0% crypto for no more than five years and 00:04:10.780 --> 00:04:14.910 align:start position:0% crypto for no more than five years and here<00:04:11.050> you<00:04:11.170> have<00:04:11.350> like<00:04:11.620> a<00:04:11.650> few<00:04:11.980> issues<00:04:13.350> are<00:04:14.350> most 00:04:14.910 --> 00:04:14.920 align:start position:0% here you have like a few issues are most 00:04:14.920 --> 00:04:17.039 align:start position:0% here you have like a few issues are most important<00:04:15.430> ones<00:04:15.610> I<00:04:15.880> think<00:04:15.940> so<00:04:16.690> I'm<00:04:16.810> a<00:04:16.870> little 00:04:17.039 --> 00:04:17.049 align:start position:0% important ones I think so I'm a little 00:04:17.049 --> 00:04:19.560 align:start position:0% important ones I think so I'm a little council<00:04:17.769> if<00:04:17.950> they<00:04:18.070> make<00:04:18.250> your<00:04:18.340> foundation<00:04:18.570> and 00:04:19.560 --> 00:04:19.570 align:start position:0% council if they make your foundation and 00:04:19.570 --> 00:04:23.570 align:start position:0% council if they make your foundation and also<00:04:19.780> I<00:04:20.019> serve<00:04:20.860> on<00:04:21.210> some<00:04:22.210> industry<00:04:22.960> builders 00:04:23.570 --> 00:04:23.580 align:start position:0% also I serve on some industry builders 00:04:23.580 --> 00:04:27.720 align:start position:0% also I serve on some industry builders and<00:04:24.580> some<00:04:25.050> define<00:04:26.050> focus<00:04:26.710> groups<00:04:27.070> such<00:04:27.550> as<00:04:27.580> the 00:04:27.720 --> 00:04:27.730 align:start position:0% and some define focus groups such as the 00:04:27.730 --> 00:04:29.930 align:start position:0% and some define focus groups such as the multi<00:04:28.270> chain<00:04:28.390> asset<00:04:28.780> managers<00:04:29.140> associations 00:04:29.930 --> 00:04:29.940 align:start position:0% multi chain asset managers associations 00:04:29.940 --> 00:04:33.600 align:start position:0% multi chain asset managers associations Association<00:04:30.940> in<00:04:31.180> in<00:04:31.450> Switzerland<00:04:31.990> I<00:04:32.610> graduate 00:04:33.600 --> 00:04:33.610 align:start position:0% Association in in Switzerland I graduate 00:04:33.610 --> 00:04:36.360 align:start position:0% Association in in Switzerland I graduate of<00:04:33.880> Oxford<00:04:34.510> and<00:04:34.750> also<00:04:35.230> I<00:04:35.500> got<00:04:35.770> to<00:04:35.830> Harvard<00:04:36.190> Law 00:04:36.360 --> 00:04:36.370 align:start position:0% of Oxford and also I got to Harvard Law 00:04:36.370 --> 00:04:38.880 align:start position:0% of Oxford and also I got to Harvard Law School<00:04:36.820> but<00:04:37.060> my<00:04:37.420> -<00:04:38.110> option<00:04:38.440> was<00:04:38.650> that<00:04:38.800> I 00:04:38.880 --> 00:04:38.890 align:start position:0% School but my - option was that I 00:04:38.890 --> 00:04:40.860 align:start position:0% School but my - option was that I wouldn't<00:04:39.220> go<00:04:39.400> there<00:04:39.640> before<00:04:39.820> before<00:04:40.720> the 00:04:40.860 --> 00:04:40.870 align:start position:0% wouldn't go there before before the 00:04:40.870 --> 00:04:43.590 align:start position:0% wouldn't go there before before the multi-class<00:04:41.320> both<00:04:41.680> I<00:04:41.890> slashed<00:04:42.420> and<00:04:43.420> it's 00:04:43.590 --> 00:04:43.600 align:start position:0% multi-class both I slashed and it's 00:04:43.600 --> 00:04:46.020 align:start position:0% multi-class both I slashed and it's gonna<00:04:43.780> happen<00:04:44.020> next<00:04:44.860> month<00:04:45.190> so<00:04:45.580> I<00:04:45.610> will<00:04:45.910> be 00:04:46.020 --> 00:04:46.030 align:start position:0% gonna happen next month so I will be 00:04:46.030 --> 00:04:50.070 align:start position:0% gonna happen next month so I will be finally<00:04:46.630> to<00:04:46.870> go<00:04:47.140> to<00:04:47.200> next<00:04:47.740> year<00:04:48.540> novel<00:04:49.540> engines 00:04:50.070 --> 00:04:50.080 align:start position:0% finally to go to next year novel engines 00:04:50.080 --> 00:04:53.400 align:start position:0% finally to go to next year novel engines log<00:04:50.350> I<00:04:50.770> focus<00:04:51.490> on<00:04:51.610> the<00:04:51.760> legal<00:04:51.970> aspects<00:04:52.570> of<00:04:52.750> my 00:04:53.400 --> 00:04:53.410 align:start position:0% log I focus on the legal aspects of my 00:04:53.410 --> 00:04:59.190 align:start position:0% log I focus on the legal aspects of my under<00:04:53.890> this<00:04:54.840> address<00:04:57.600> those<00:04:58.600> underground<00:04:58.960> a 00:04:59.190 --> 00:04:59.200 align:start position:0% under this address those underground a 00:04:59.200 --> 00:05:01.140 align:start position:0% under this address those underground a huge<00:04:59.440> length<00:04:59.710> so<00:05:00.250> actually<00:05:00.640> the<00:05:00.760> first<00:05:00.790> thing 00:05:01.140 --> 00:05:01.150 align:start position:0% huge length so actually the first thing 00:05:01.150 --> 00:05:07.920 align:start position:0% huge length so actually the first thing I<00:05:05.100> and<00:05:06.100> important<00:05:06.910> disclaimer<00:05:07.270> before<00:05:07.570> we 00:05:07.920 --> 00:05:07.930 align:start position:0% I and important disclaimer before we 00:05:07.930 --> 00:05:12.770 align:start position:0% I and important disclaimer before we start<00:05:08.290> I<00:05:09.180> am<00:05:10.180> a<00:05:10.419> lawyer<00:05:10.570> just<00:05:11.140> not<00:05:11.350> your<00:05:11.860> lawyer 00:05:12.770 --> 00:05:12.780 align:start position:0% start I am a lawyer just not your lawyer 00:05:12.780 --> 00:05:14.970 align:start position:0% start I am a lawyer just not your lawyer nothing<00:05:13.780> here<00:05:14.050> is<00:05:14.260> gonna<00:05:14.410> give<00:05:14.650> legal<00:05:14.830> advice 00:05:14.970 --> 00:05:14.980 align:start position:0% nothing here is gonna give legal advice 00:05:14.980 --> 00:05:17.220 align:start position:0% nothing here is gonna give legal advice at<00:05:15.370> risk<00:05:15.610> for<00:05:15.850> me<00:05:16.000> are<00:05:16.690> there<00:05:16.870> any<00:05:16.930> other 00:05:17.220 --> 00:05:17.230 align:start position:0% at risk for me are there any other 00:05:17.230 --> 00:05:20.220 align:start position:0% at risk for me are there any other lawyers<00:05:17.650> in<00:05:17.680> the<00:05:17.919> room<00:05:18.690> all<00:05:19.690> right<00:05:19.900> quite<00:05:20.200> a 00:05:20.220 --> 00:05:20.230 align:start position:0% lawyers in the room all right quite a 00:05:20.230 --> 00:05:22.110 align:start position:0% lawyers in the room all right quite a few<00:05:20.500> so<00:05:20.800> you<00:05:20.860> guys<00:05:21.160> are<00:05:21.370> free<00:05:21.550> to<00:05:21.850> you<00:05:22.000> know 00:05:22.110 --> 00:05:22.120 align:start position:0% few so you guys are free to you know 00:05:22.120 --> 00:05:24.030 align:start position:0% few so you guys are free to you know give<00:05:22.360> out<00:05:22.540> your<00:05:22.750> legal<00:05:23.080> advice<00:05:23.290> but<00:05:23.650> nothing 00:05:24.030 --> 00:05:24.040 align:start position:0% give out your legal advice but nothing 00:05:24.040 --> 00:05:26.550 align:start position:0% give out your legal advice but nothing that<00:05:24.130> stays<00:05:24.520> we<00:05:24.760> go<00:05:24.880> nice<00:05:25.150> and<00:05:25.450> use<00:05:26.169> our<00:05:26.380> mail 00:05:26.550 --> 00:05:26.560 align:start position:0% that stays we go nice and use our mail 00:05:26.560 --> 00:05:28.370 align:start position:0% that stays we go nice and use our mail right<00:05:26.919> so<00:05:27.130> I'm<00:05:27.250> not<00:05:27.370> representing 00:05:28.370 --> 00:05:28.380 align:start position:0% right so I'm not representing 00:05:28.380 --> 00:05:30.570 align:start position:0% right so I'm not representing necessarily<00:05:29.380> representing<00:05:29.980> make<00:05:30.400> their 00:05:30.570 --> 00:05:30.580 align:start position:0% necessarily representing make their 00:05:30.580 --> 00:05:32.010 align:start position:0% necessarily representing make their views<00:05:30.790> right<00:05:31.150> now<00:05:31.330> or<00:05:31.660> any<00:05:31.810> other 00:05:32.010 --> 00:05:32.020 align:start position:0% views right now or any other 00:05:32.020 --> 00:05:34.350 align:start position:0% views right now or any other organization<00:05:32.320> that<00:05:32.710> I<00:05:33.340> am<00:05:33.520> somewhat<00:05:33.970> got<00:05:34.210> it 00:05:34.350 --> 00:05:34.360 align:start position:0% organization that I am somewhat got it 00:05:34.360 --> 00:05:36.810 align:start position:0% organization that I am somewhat got it with<00:05:34.540> the<00:05:34.810> leg<00:05:35.080> included<00:05:35.770> so<00:05:36.610> nubs 00:05:36.810 --> 00:05:36.820 align:start position:0% with the leg included so nubs 00:05:36.820 --> 00:05:39.570 align:start position:0% with the leg included so nubs troubleshooting<00:05:37.570> of<00:05:37.919> some<00:05:38.919> legal<00:05:39.250> problems 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align:start position:0% like<00:05:49.490> also<00:05:49.939> which<00:05:50.060> also<00:05:50.240> falls<00:05:51.139> through<00:05:51.379> my 00:05:51.459 --> 00:05:51.469 align:start position:0% like also which also falls through my 00:05:51.469 --> 00:05:53.920 align:start position:0% like also which also falls through my practice<00:05:51.680> but<00:05:52.580> they<00:05:52.669> thought<00:05:52.849> that<00:05:53.300> like<00:05:53.749> this 00:05:53.920 --> 00:05:53.930 align:start position:0% practice but they thought that like this 00:05:53.930 --> 00:06:00.369 align:start position:0% practice but they thought that like this workshop<00:05:54.499> a<00:05:55.280> format<00:05:56.240> is<00:05:57.879> like<00:05:58.879> I<00:05:58.909> said<00:05:59.379> it 00:06:00.369 --> 00:06:00.379 align:start position:0% workshop a format is like I said it 00:06:00.379 --> 00:06:01.809 align:start position:0% workshop a format is like I said it would<00:06:00.529> be<00:06:00.560> a<00:06:00.650> better<00:06:00.860> opportunity<00:06:01.340> for<00:06:01.669> this 00:06:01.809 --> 00:06:01.819 align:start position:0% would be a better opportunity for this 00:06:01.819 --> 00:06:05.050 align:start position:0% would be a better opportunity for this program<00:06:02.360> actually<00:06:02.719> ask<00:06:03.110> you<00:06:03.229> about<00:06:03.620> some<00:06:04.159> some 00:06:05.050 --> 00:06:05.060 align:start position:0% program actually ask you about some some 00:06:05.060 --> 00:06:08.050 align:start position:0% program actually ask you about some some thoughts<00:06:06.129> so<00:06:07.129> what's<00:06:07.370> going<00:06:07.550> to<00:06:07.580> happen<00:06:07.879> I'm 00:06:08.050 --> 00:06:08.060 align:start position:0% thoughts so what's going to happen I'm 00:06:08.060 --> 00:06:10.600 align:start position:0% thoughts so what's going to happen I'm going<00:06:08.210> to<00:06:08.300> present<00:06:08.539> you<00:06:08.900> a<00:06:09.050> few<00:06:09.590> more<00:06:10.129> general 00:06:10.600 --> 00:06:10.610 align:start position:0% going to present you a few more general 00:06:10.610 --> 00:06:13.540 align:start position:0% going to present you a few more general problems<00:06:11.060> that<00:06:11.960> I<00:06:12.080> see<00:06:12.110> legal<00:06:12.919> problems<00:06:13.340> they 00:06:13.540 --> 00:06:13.550 align:start position:0% problems that I see legal problems they 00:06:13.550 --> 00:06:15.820 align:start position:0% problems that I see legal problems they see<00:06:13.580> the<00:06:13.879> defects<00:06:14.300> base<00:06:14.539> and<00:06:15.229> they'd<00:06:15.379> like<00:06:15.620> you 00:06:15.820 --> 00:06:15.830 align:start position:0% see the defects base and they'd like you 00:06:15.830 --> 00:06:18.969 align:start position:0% see the defects base and they'd like you guys<00:06:16.039> to<00:06:16.400> answer<00:06:16.879> like<00:06:17.289> like<00:06:18.289> ask<00:06:18.650> you<00:06:18.889> about 00:06:18.969 --> 00:06:18.979 align:start position:0% guys to answer like like ask you about 00:06:18.979 --> 00:06:20.679 align:start position:0% guys to answer like like ask you about your<00:06:19.279> opinions<00:06:19.699> about<00:06:19.849> these<00:06:20.060> problems<00:06:20.509> and 00:06:20.679 --> 00:06:20.689 align:start position:0% your opinions about these problems and 00:06:20.689 --> 00:06:22.959 align:start position:0% your opinions about these problems and also<00:06:20.810> about<00:06:21.139> possible<00:06:21.590> solutions<00:06:22.069> and<00:06:22.279> we<00:06:22.849> can 00:06:22.959 --> 00:06:22.969 align:start position:0% also about possible solutions and we can 00:06:22.969 --> 00:06:25.499 align:start position:0% also about possible solutions and we can also<00:06:23.120> have<00:06:23.389> some<00:06:23.689> discussions<00:06:24.199> around<00:06:24.349> this 00:06:25.499 --> 00:06:25.509 align:start position:0% also have some discussions around this 00:06:25.509 --> 00:06:30.129 align:start position:0% also have some discussions around this so<00:06:26.509> any<00:06:27.500> questions<00:06:28.240> the<00:06:29.240> moment<00:06:29.539> this<00:06:30.080> is 00:06:30.129 --> 00:06:30.139 align:start position:0% so any questions the moment this is 00:06:30.139 --> 00:06:32.080 align:start position:0% so any questions the moment this is remember<00:06:30.830> this<00:06:30.949> is<00:06:31.069> the<00:06:31.189> workshop<00:06:31.669> so<00:06:31.909> I'd 00:06:32.080 --> 00:06:32.090 align:start position:0% remember this is the workshop so I'd 00:06:32.090 --> 00:06:33.839 align:start position:0% remember this is the workshop so I'd really<00:06:32.569> like<00:06:32.750> to<00:06:32.960> see<00:06:33.080> some<00:06:33.259> discussion<00:06:33.800> here 00:06:33.839 --> 00:06:33.849 align:start position:0% really like to see some discussion here 00:06:33.849 --> 00:06:36.309 align:start position:0% really like to see some discussion here let<00:06:34.849> me<00:06:34.879> present<00:06:35.120> the<00:06:35.389> first<00:06:35.659> one<00:06:35.900> it's<00:06:36.169> gonna 00:06:36.309 --> 00:06:36.319 align:start position:0% let me present the first one it's gonna 00:06:36.319 --> 00:06:38.740 align:start position:0% let me present the first one it's gonna be<00:06:36.439> like<00:06:36.590> at<00:06:36.710> this<00:06:36.860> one<00:06:37.129> that<00:06:38.029> i<00:06:38.180> called<00:06:38.419> front 00:06:38.740 --> 00:06:38.750 align:start position:0% be like at this one that i called front 00:06:38.750 --> 00:06:43.420 align:start position:0% be like at this one that i called front inflatable<00:06:40.330> which<00:06:41.330> is<00:06:41.509> it<00:06:42.379> seems<00:06:42.680> it<00:06:43.069> seems 00:06:43.420 --> 00:06:43.430 align:start position:0% inflatable which is it seems it seems 00:06:43.430 --> 00:06:45.100 align:start position:0% inflatable which is it seems it seems pretty<00:06:43.789> obvious<00:06:44.060> to<00:06:44.389> me<00:06:44.509> but<00:06:44.539> let<00:06:44.870> me<00:06:45.050> explain 00:06:45.100 --> 00:06:45.110 align:start position:0% pretty obvious to me but let me explain 00:06:45.110 --> 00:06:49.899 align:start position:0% pretty obvious to me but let me explain in<00:06:45.589> case<00:06:48.099> you<00:06:49.099> know<00:06:49.219> you<00:06:49.520> can<00:06:49.669> fully 00:06:49.899 --> 00:06:49.909 align:start position:0% in case you know you can fully 00:06:49.909 --> 00:06:51.879 align:start position:0% in case you know you can fully decentralized<00:06:50.300> products<00:06:51.259> in<00:06:51.469> that<00:06:51.589> big<00:06:51.740> white 00:06:51.879 --> 00:06:51.889 align:start position:0% decentralized products in that big white 00:06:51.889 --> 00:06:54.579 align:start position:0% decentralized products in that big white space<00:06:52.159> which<00:06:52.729> are<00:06:53.330> you<00:06:53.719> know<00:06:53.839> some<00:06:54.169> smart 00:06:54.579 --> 00:06:54.589 align:start position:0% space which are you know some smart 00:06:54.589 --> 00:06:56.679 align:start position:0% space which are you know some smart construct<00:06:55.219> based<00:06:55.520> protocols<00:06:56.270> that<00:06:56.479> are 00:06:56.679 --> 00:06:56.689 align:start position:0% construct based protocols that are 00:06:56.689 --> 00:06:59.800 align:start position:0% construct based protocols that are emitted<00:06:57.349> role<00:06:57.529> unstoppable<00:06:58.460> and<00:06:58.729> so<00:06:59.300> on<00:06:59.479> they 00:06:59.800 --> 00:06:59.810 align:start position:0% emitted role unstoppable and so on they 00:06:59.810 --> 00:07:02.019 align:start position:0% emitted role unstoppable and so on they use<00:07:00.139> some<00:07:00.469> centralized<00:07:01.069> profits<00:07:01.580> to<00:07:01.699> attract 00:07:02.019 --> 00:07:02.029 align:start position:0% use some centralized profits to attract 00:07:02.029 --> 00:07:03.550 align:start position:0% use some centralized profits to attract users<00:07:02.210> right<00:07:02.750> and<00:07:02.960> this<00:07:03.080> centralized 00:07:03.550 --> 00:07:03.560 align:start position:0% users right and this centralized 00:07:03.560 --> 00:07:06.339 align:start position:0% users right and this centralized contents<00:07:04.129> are<00:07:04.310> usually<00:07:04.580> some<00:07:05.120> websites<00:07:05.629> which 00:07:06.339 --> 00:07:06.349 align:start position:0% contents are usually some websites which 00:07:06.349 --> 00:07:08.649 align:start position:0% contents are usually some websites which have<00:07:06.589> which<00:07:07.430> have<00:07:07.490> some<00:07:07.909> visual<00:07:08.300> domains 00:07:08.649 --> 00:07:08.659 align:start position:0% have which have some visual domains 00:07:08.659 --> 00:07:11.439 align:start position:0% have which have some visual domains enjoys<00:07:09.199> hosting<00:07:09.909> there<00:07:10.909> are<00:07:11.000> some<00:07:11.210> crisps 00:07:11.439 --> 00:07:11.449 align:start position:0% enjoys hosting there are some crisps 00:07:11.449 --> 00:07:14.409 align:start position:0% enjoys hosting there are some crisps connected<00:07:12.339> collected<00:07:13.339> at<00:07:13.789> this<00:07:13.969> comfort 00:07:14.409 --> 00:07:14.419 align:start position:0% connected collected at this comfort 00:07:14.419 --> 00:07:16.809 align:start position:0% connected collected at this comfort level<00:07:14.870> there<00:07:15.110> is<00:07:15.589> data<00:07:15.800> collection<00:07:16.279> going<00:07:16.580> on 00:07:16.809 --> 00:07:16.819 align:start position:0% level there is data collection going on 00:07:16.819 --> 00:07:19.300 align:start position:0% level there is data collection going on just<00:07:17.210> like<00:07:17.750> everything<00:07:18.409> that<00:07:18.439> you'd<00:07:18.800> expect 00:07:19.300 --> 00:07:19.310 align:start position:0% just like everything that you'd expect 00:07:19.310 --> 00:07:22.719 align:start position:0% just like everything that you'd expect from<00:07:19.520> some<00:07:19.819> usual<00:07:20.259> you<00:07:21.259> know<00:07:21.729> traditional 00:07:22.719 --> 00:07:22.729 align:start position:0% from some usual you know traditional 00:07:22.729 --> 00:07:24.219 align:start position:0% from some usual you know traditional financial<00:07:23.060> services<00:07:23.569> when<00:07:23.779> you're<00:07:23.870> visiting 00:07:24.219 --> 00:07:24.229 align:start position:0% financial services when you're visiting 00:07:24.229 --> 00:07:26.439 align:start position:0% financial services when you're visiting this<00:07:24.500> website<00:07:24.710> in<00:07:25.159> Europe<00:07:25.460> you're<00:07:26.089> getting 00:07:26.439 --> 00:07:26.449 align:start position:0% this website in Europe you're getting 00:07:26.449 --> 00:07:28.540 align:start position:0% this website in Europe you're getting some<00:07:26.689> services<00:07:27.229> you<00:07:27.770> are<00:07:27.889> praying<00:07:28.099> for<00:07:28.250> them 00:07:28.540 --> 00:07:28.550 align:start position:0% some services you are praying for them 00:07:28.550 --> 00:07:30.480 align:start position:0% some services you are praying for them your<00:07:28.819> data<00:07:29.060> is<00:07:29.210> being<00:07:29.389> collected<00:07:29.569> and<00:07:29.930> support 00:07:30.480 --> 00:07:30.490 align:start position:0% your data is being collected and support 00:07:30.490 --> 00:07:34.139 align:start position:0% your data is being collected and support and<00:07:31.490> this<00:07:31.729> province<00:07:32.270> and<00:07:33.229> the<00:07:33.259> operators 00:07:34.139 --> 00:07:34.149 align:start position:0% and this province and the operators 00:07:34.149 --> 00:07:36.659 align:start position:0% and this province and the operators sometimes<00:07:35.149> may<00:07:35.419> run<00:07:35.719> into<00:07:35.960> legal<00:07:36.439> trouble 00:07:36.659 --> 00:07:36.669 align:start position:0% sometimes may run into legal trouble 00:07:36.669 --> 00:07:39.339 align:start position:0% sometimes may run into legal trouble because<00:07:37.669> they<00:07:37.939> what<00:07:38.509> they<00:07:38.659> do<00:07:38.870> is<00:07:39.110> they 00:07:39.339 --> 00:07:39.349 align:start position:0% because they what they do is they 00:07:39.349 --> 00:07:42.129 align:start position:0% because they what they do is they facilitate<00:07:40.189> access<00:07:40.430> to<00:07:40.960> financial<00:07:41.960> services 00:07:42.129 --> 00:07:42.139 align:start position:0% facilitate access to financial services 00:07:42.139 --> 00:07:46.330 align:start position:0% facilitate access to financial services and<00:07:42.439> products<00:07:44.169> and<00:07:45.169> I<00:07:45.319> have<00:07:45.529> once 00:07:46.330 --> 00:07:46.340 align:start position:0% and products and I have once 00:07:46.340 --> 00:07:48.100 align:start position:0% and products and I have once the<00:07:46.430> example<00:07:46.970> I<00:07:47.180> was<00:07:47.330> trying<00:07:47.600> to<00:07:47.690> provide 00:07:48.100 --> 00:07:48.110 align:start position:0% the example I was trying to provide 00:07:48.110 --> 00:07:50.110 align:start position:0% the example I was trying to provide example<00:07:48.920> sketch<00:07:49.280> of<00:07:49.430> the<00:07:49.520> problem<00:07:49.910> that<00:07:49.940> they 00:07:50.110 --> 00:07:50.120 align:start position:0% example sketch of the problem that they 00:07:50.120 --> 00:07:52.540 align:start position:0% example sketch of the problem that they present<00:07:50.470> you<00:07:51.470> probably<00:07:51.830> know<00:07:52.040> this<00:07:52.340> this 00:07:52.540 --> 00:07:52.550 align:start position:0% present you probably know this this 00:07:52.550 --> 00:07:54.610 align:start position:0% present you probably know this this website<00:07:53.060> is<00:07:53.300> a<00:07:53.450> resultant<00:07:53.870> you<00:07:54.080> probably<00:07:54.380> know 00:07:54.610 --> 00:07:54.620 align:start position:0% website is a resultant you probably know 00:07:54.620 --> 00:07:56.890 align:start position:0% website is a resultant you probably know that<00:07:54.890> they<00:07:55.130> they<00:07:55.820> were<00:07:55.880> never<00:07:56.270> hid<00:07:56.630> behind 00:07:56.890 --> 00:07:56.900 align:start position:0% that they they were never hid behind 00:07:56.900 --> 00:07:59.560 align:start position:0% that they they were never hid behind some<00:07:57.620> first<00:07:58.160> meant<00:07:58.370> actually<00:07:58.520> in<00:07:58.880> the<00:07:59.000> US<00:07:59.330> and 00:07:59.560 --> 00:07:59.570 align:start position:0% some first meant actually in the US and 00:07:59.570 --> 00:08:01.780 align:start position:0% some first meant actually in the US and when<00:08:00.260> you<00:08:00.350> look<00:08:00.560> at<00:08:00.680> the<00:08:00.830> content<00:08:01.250> of<00:08:01.370> of<00:08:01.610> their 00:08:01.780 --> 00:08:01.790 align:start position:0% when you look at the content of of their 00:08:01.790 --> 00:08:04.810 align:start position:0% when you look at the content of of their settlement<00:08:02.200> it's<00:08:03.200> quite<00:08:03.470> striking<00:08:03.830> that<00:08:04.100> the 00:08:04.810 --> 00:08:04.820 align:start position:0% settlement it's quite striking that the 00:08:04.820 --> 00:08:08.140 align:start position:0% settlement it's quite striking that the SEC<00:08:05.360> divert<00:08:05.840> and<00:08:05.990> SEC<00:08:06.440> recognizes<00:08:07.430> the<00:08:07.700> the 00:08:08.140 --> 00:08:08.150 align:start position:0% SEC divert and SEC recognizes the the 00:08:08.150 --> 00:08:09.700 align:start position:0% SEC divert and SEC recognizes the the difference<00:08:08.630> between<00:08:09.050> the<00:08:09.200> protocol<00:08:09.680> level 00:08:09.700 --> 00:08:09.710 align:start position:0% difference between the protocol level 00:08:09.710 --> 00:08:13.270 align:start position:0% difference between the protocol level and<00:08:10.220> the<00:08:10.580> fronton<00:08:10.940> level<00:08:11.300> yet<00:08:11.990> in<00:08:12.320> the<00:08:12.620> proctor 00:08:13.270 --> 00:08:13.280 align:start position:0% and the fronton level yet in the proctor 00:08:13.280 --> 00:08:15.700 align:start position:0% and the fronton level yet in the proctor in<00:08:13.640> the<00:08:13.730> practice<00:08:14.180> it's<00:08:14.510> it's<00:08:14.870> it's<00:08:15.170> like<00:08:15.260> it's 00:08:15.700 --> 00:08:15.710 align:start position:0% in the practice it's it's it's like it's 00:08:15.710 --> 00:08:18.490 align:start position:0% in the practice it's it's it's like it's it's<00:08:16.160> really<00:08:16.340> difficult<00:08:16.580> to<00:08:17.060> to<00:08:17.600> to 00:08:18.490 --> 00:08:18.500 align:start position:0% it's really difficult to to to 00:08:18.500 --> 00:08:20.980 align:start position:0% it's really difficult to to to differently<00:08:19.160> analyze<00:08:19.640> book<00:08:20.000> right<00:08:20.390> and<00:08:20.600> this 00:08:20.980 --> 00:08:20.990 align:start position:0% differently analyze book right and this 00:08:20.990 --> 00:08:22.930 align:start position:0% differently analyze book right and this fear<00:08:21.320> from<00:08:21.500> the<00:08:21.620> language<00:08:21.980> literacy<00:08:22.340> right 00:08:22.930 --> 00:08:22.940 align:start position:0% fear from the language literacy right 00:08:22.940 --> 00:08:25.330 align:start position:0% fear from the language literacy right that<00:08:23.150> they<00:08:23.810> do<00:08:23.990> mention<00:08:24.230> a<00:08:24.530> few<00:08:24.680> times<00:08:24.980> that 00:08:25.330 --> 00:08:25.340 align:start position:0% that they do mention a few times that 00:08:25.340 --> 00:08:27.370 align:start position:0% that they do mention a few times that the<00:08:25.730> website<00:08:26.330> need<00:08:26.540> to<00:08:26.630> know<00:08:26.780> the<00:08:26.960> website 00:08:27.370 --> 00:08:27.380 align:start position:0% the website need to know the website 00:08:27.380 --> 00:08:28.180 align:start position:0% the website need to know the website thank<00:08:27.710> you 00:08:28.180 --> 00:08:28.190 align:start position:0% thank you 00:08:28.190 --> 00:08:29.980 align:start position:0% thank you features<00:08:28.610> similar<00:08:28.970> to<00:08:29.240> all<00:08:29.390> my<00:08:29.540> securities 00:08:29.980 --> 00:08:29.990 align:start position:0% features similar to all my securities 00:08:29.990 --> 00:08:31.600 align:start position:0% features similar to all my securities trading<00:08:30.350> but<00:08:30.530> it's<00:08:30.890> right<00:08:31.040> then<00:08:31.220> they<00:08:31.340> take 00:08:31.600 --> 00:08:31.610 align:start position:0% trading but it's right then they take 00:08:31.610 --> 00:08:33.790 align:start position:0% trading but it's right then they take actually<00:08:31.910> listening<00:08:32.360> this<00:08:32.930> features<00:08:33.380> right 00:08:33.790 --> 00:08:33.800 align:start position:0% actually listening this features right 00:08:33.800 --> 00:08:35.890 align:start position:0% actually listening this features right they<00:08:34.460> are<00:08:34.490> displaying<00:08:34.970> the<00:08:35.150> orders<00:08:35.540> they're 00:08:35.890 --> 00:08:35.900 align:start position:0% they are displaying the orders they're 00:08:35.900 --> 00:08:40.030 align:start position:0% they are displaying the orders they're salted<00:08:36.590> by<00:08:36.710> tricycle<00:08:37.460> or<00:08:38.260> directories<00:08:39.260> user 00:08:40.030 --> 00:08:40.040 align:start position:0% salted by tricycle or directories user 00:08:40.040 --> 00:08:42.640 align:start position:0% salted by tricycle or directories user account<00:08:40.340> information<00:08:41.050> provided<00:08:42.050> field<00:08:42.290> speak 00:08:42.640 --> 00:08:42.650 align:start position:0% account information provided field speak 00:08:42.650 --> 00:08:44.770 align:start position:0% account information provided field speak with<00:08:42.860> deficit<00:08:43.340> with<00:08:43.520> drawl<00:08:43.790> and<00:08:43.820> so<00:08:44.240> on<00:08:44.420> right 00:08:44.770 --> 00:08:44.780 align:start position:0% with deficit with drawl and so on right 00:08:44.780 --> 00:08:46.870 align:start position:0% with deficit with drawl and so on right they<00:08:45.140> provide<00:08:45.470> all<00:08:45.650> of<00:08:45.710> this<00:08:45.920> information<00:08:46.250> and 00:08:46.870 --> 00:08:46.880 align:start position:0% they provide all of this information and 00:08:46.880 --> 00:08:50.710 align:start position:0% they provide all of this information and said<00:08:47.510> this<00:08:47.930> looks<00:08:48.440> like<00:08:49.060> exchange<00:08:50.060> right<00:08:50.420> this 00:08:50.710 --> 00:08:50.720 align:start position:0% said this looks like exchange right this 00:08:50.720 --> 00:08:52.690 align:start position:0% said this looks like exchange right this looks<00:08:50.990> like<00:08:51.260> securities<00:08:51.800> trading<00:08:52.250> many<00:08:52.490> there 00:08:52.690 --> 00:08:52.700 align:start position:0% looks like securities trading many there 00:08:52.700 --> 00:08:54.070 align:start position:0% looks like securities trading many there is<00:08:52.820> no<00:08:53.090> difference<00:08:53.660> from<00:08:53.780> the<00:08:53.960> user 00:08:54.070 --> 00:08:54.080 align:start position:0% is no difference from the user 00:08:54.080 --> 00:08:56.230 align:start position:0% is no difference from the user perspective<00:08:54.320> and<00:08:55.220> of<00:08:55.640> course<00:08:55.880> we<00:08:56.120> all<00:08:56.210> know 00:08:56.230 --> 00:08:56.240 align:start position:0% perspective and of course we all know 00:08:56.240 --> 00:08:57.940 align:start position:0% perspective and of course we all know that<00:08:56.600> there<00:08:56.780> is<00:08:56.870> a<00:08:56.900> certain<00:08:57.320> smart<00:08:57.560> construct 00:08:57.940 --> 00:08:57.950 align:start position:0% that there is a certain smart construct 00:08:57.950 --> 00:08:59.140 align:start position:0% that there is a certain smart construct going<00:08:58.310> on<00:08:58.400> in<00:08:58.550> the<00:08:58.640> background 00:08:59.140 --> 00:08:59.150 align:start position:0% going on in the background 00:08:59.150 --> 00:09:01.210 align:start position:0% going on in the background perhaps<00:08:59.720> eternalize<00:09:00.410> not<00:09:00.590> that<00:09:00.740> let's<00:09:00.920> like 00:09:01.210 --> 00:09:01.220 align:start position:0% perhaps eternalize not that let's like 00:09:01.220 --> 00:09:03.190 align:start position:0% perhaps eternalize not that let's like example<00:09:01.910> of<00:09:02.000> like<00:09:02.180> a<00:09:02.210> total<00:09:02.570> decentralize 00:09:03.190 --> 00:09:03.200 align:start position:0% example of like a total decentralize 00:09:03.200 --> 00:09:05.920 align:start position:0% example of like a total decentralize problem<00:09:03.590> yet<00:09:03.980> you<00:09:04.580> can<00:09:04.760> see<00:09:05.000> that<00:09:05.420> especially 00:09:05.920 --> 00:09:05.930 align:start position:0% problem yet you can see that especially 00:09:05.930 --> 00:09:08.770 align:start position:0% problem yet you can see that especially if<00:09:06.290> there<00:09:06.470> is<00:09:06.500> just<00:09:06.590> a<00:09:06.920> single<00:09:07.190> problems<00:09:07.940> to<00:09:08.420> to 00:09:08.770 --> 00:09:08.780 align:start position:0% if there is just a single problems to to 00:09:08.780 --> 00:09:10.900 align:start position:0% if there is just a single problems to to the<00:09:08.900> protocol<00:09:09.440> which<00:09:10.160> is<00:09:10.190> very<00:09:10.580> often<00:09:10.790> the 00:09:10.900 --> 00:09:10.910 align:start position:0% the protocol which is very often the 00:09:10.910 --> 00:09:13.330 align:start position:0% the protocol which is very often the case<00:09:11.180> in<00:09:11.510> the<00:09:11.930> different<00:09:12.290> space<00:09:12.560> there<00:09:13.220> is<00:09:13.250> a 00:09:13.330 --> 00:09:13.340 align:start position:0% case in the different space there is a 00:09:13.340 --> 00:09:15.040 align:start position:0% case in the different space there is a certain<00:09:13.730> problem<00:09:14.000> that<00:09:14.330> from<00:09:14.540> the<00:09:14.630> regular 00:09:15.040 --> 00:09:15.050 align:start position:0% certain problem that from the regular 00:09:15.050 --> 00:09:17.290 align:start position:0% certain problem that from the regular regulators<00:09:15.710> perspective<00:09:16.370> if<00:09:16.610> they<00:09:17.060> will<00:09:17.270> not 00:09:17.290 --> 00:09:17.300 align:start position:0% regulators perspective if they will not 00:09:17.300 --> 00:09:19.480 align:start position:0% regulators perspective if they will not see<00:09:17.720> differently<00:09:18.290> than<00:09:18.560> any<00:09:18.770> other<00:09:18.890> central 00:09:19.480 --> 00:09:19.490 align:start position:0% see differently than any other central 00:09:19.490 --> 00:09:20.410 align:start position:0% see differently than any other central answer<00:09:19.760> profits 00:09:20.410 --> 00:09:20.420 align:start position:0% answer profits 00:09:20.420 --> 00:09:23.620 align:start position:0% answer profits any<00:09:21.380> questions<00:09:21.830> do<00:09:22.280> these<00:09:22.430> problems<00:09:22.640> to<00:09:23.540> this 00:09:23.620 --> 00:09:23.630 align:start position:0% any questions do these problems to this 00:09:23.630 --> 00:09:26.260 align:start position:0% any questions do these problems to this problem<00:09:23.960> before<00:09:24.470> we<00:09:24.680> get<00:09:24.800> to<00:09:25.070> my<00:09:25.730> questions 00:09:26.260 --> 00:09:26.270 align:start position:0% problem before we get to my questions 00:09:26.270 --> 00:09:34.870 align:start position:0% problem before we get to my questions today<00:09:26.870> so<00:09:30.820> why<00:09:32.650> like<00:09:33.650> just<00:09:33.860> a<00:09:34.040> centralized 00:09:34.870 --> 00:09:34.880 align:start position:0% today so why like just a centralized 00:09:34.880 --> 00:09:39.820 align:start position:0% today so why like just a centralized point<00:09:35.720> of<00:09:35.900> entry<00:09:36.170> could<00:09:38.530> isn't<00:09:39.530> the<00:09:39.590> fact<00:09:39.770> that 00:09:39.820 --> 00:09:39.830 align:start position:0% point of entry could isn't the fact that 00:09:39.830 --> 00:09:42.689 align:start position:0% point of entry could isn't the fact that anyone<00:09:40.190> could<00:09:40.670> make<00:09:40.940> a<00:09:41.000> fronting<00:09:41.390> for<00:09:41.440> removal 00:09:42.689 --> 00:09:42.699 align:start position:0% anyone could make a fronting for removal 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twin<00:09:52.069> left<00:09:52.220> in<00:09:52.369> the<00:09:52.430> specific<00:09:52.910> litter 00:09:53.350 --> 00:09:53.360 align:start position:0% about twin left in the specific litter 00:09:53.360 --> 00:09:55.179 align:start position:0% about twin left in the specific litter or<00:09:53.480> specific<00:09:53.990> reverberation<00:09:54.619> right<00:09:54.889> I'm 00:09:55.179 --> 00:09:55.189 align:start position:0% or specific reverberation right I'm 00:09:55.189 --> 00:09:57.220 align:start position:0% or specific reverberation right I'm trying<00:09:55.699> to<00:09:55.939> like<00:09:56.089> abstract<00:09:56.480> away<00:09:56.660> certain 00:09:57.220 --> 00:09:57.230 align:start position:0% trying to like abstract away certain 00:09:57.230 --> 00:10:00.069 align:start position:0% trying to like abstract away certain problems<00:09:57.680> and<00:09:58.550> all<00:09:58.850> of<00:09:59.059> them<00:09:59.269> I<00:09:59.449> think<00:09:59.749> would 00:10:00.069 --> 00:10:00.079 align:start position:0% problems and all of them I think would 00:10:00.079 --> 00:10:02.109 align:start position:0% problems and all of them I think would be<00:10:00.259> would<00:10:00.559> be<00:10:00.589> relevant<00:10:01.009> humanitarian<00:10:01.850> issues 00:10:02.109 --> 00:10:02.119 align:start position:0% be would be relevant humanitarian issues 00:10:02.119 --> 00:10:04.900 align:start position:0% be would be relevant humanitarian issues right<00:10:02.929> so<00:10:03.199> of<00:10:03.920> course<00:10:04.129> like<00:10:04.459> an<00:10:04.550> answer<00:10:04.730> to 00:10:04.900 --> 00:10:04.910 align:start position:0% right so of course like an answer to 00:10:04.910 --> 00:10:06.460 align:start position:0% right so of course like an answer to this<00:10:05.149> type<00:10:05.360> of<00:10:05.389> question<00:10:05.540> might<00:10:05.899> be<00:10:05.929> different 00:10:06.460 --> 00:10:06.470 align:start position:0% this type of question might be different 00:10:06.470 --> 00:10:08.799 align:start position:0% this type of question might be different in<00:10:07.069> some<00:10:07.309> in<00:10:07.490> some<00:10:07.519> places<00:10:07.879> and<00:10:08.179> I<00:10:08.480> just<00:10:08.509> look 00:10:08.799 --> 00:10:08.809 align:start position:0% in some in some places and I just look 00:10:08.809 --> 00:10:10.989 align:start position:0% in some in some places and I just look above<00:10:09.019> a<00:10:09.139> certain<00:10:09.319> practice<00:10:09.649> right<00:10:10.189> that<00:10:10.459> very 00:10:10.989 --> 00:10:10.999 align:start position:0% above a certain practice right that very 00:10:10.999 --> 00:10:13.720 align:start position:0% above a certain practice right that very often<00:10:11.240> this<00:10:11.600> is<00:10:12.199> protocols<00:10:12.740> have<00:10:13.040> single<00:10:13.490> from 00:10:13.720 --> 00:10:13.730 align:start position:0% often this is protocols have single from 00:10:13.730 --> 00:10:17.019 align:start position:0% often this is protocols have single from right<00:10:14.240> and<00:10:14.389> of<00:10:14.509> course<00:10:14.740> this<00:10:15.740> is<00:10:15.980> this<00:10:16.699> is<00:10:16.819> this 00:10:17.019 --> 00:10:17.029 align:start position:0% right and of course this is this is this 00:10:17.029 --> 00:10:19.720 align:start position:0% right and of course this is this is this is<00:10:17.179> very<00:10:17.509> good<00:10:17.660> advice<00:10:17.779> that<00:10:18.439> I'm<00:10:18.920> giving<00:10:18.949> out 00:10:19.720 --> 00:10:19.730 align:start position:0% is very good advice that I'm giving out 00:10:19.730 --> 00:10:22.660 align:start position:0% is very good advice that I'm giving out some<00:10:20.449> time<00:10:20.660> is<00:10:20.809> that<00:10:20.959> you<00:10:21.619> need<00:10:21.860> to<00:10:22.069> like<00:10:22.369> make 00:10:22.660 --> 00:10:22.670 align:start position:0% some time is that you need to like make 00:10:22.670 --> 00:10:24.519 align:start position:0% some time is that you need to like make this<00:10:22.819> difference<00:10:23.300> between<00:10:23.509> protocol<00:10:24.170> day<00:10:24.290> and 00:10:24.519 --> 00:10:24.529 align:start position:0% this difference between protocol day and 00:10:24.529 --> 00:10:26.609 align:start position:0% this difference between protocol day and from<00:10:24.740> that<00:10:24.889> later<00:10:25.100> right<00:10:25.399> so<00:10:25.730> that<00:10:25.910> so<00:10:26.149> that 00:10:26.609 --> 00:10:26.619 align:start position:0% from that later right so that so that 00:10:26.619 --> 00:10:29.769 align:start position:0% from that later right so that so that you<00:10:27.619> focus<00:10:28.069> your<00:10:28.459> efforts<00:10:29.179> on<00:10:29.329> the<00:10:29.420> protocol 00:10:29.769 --> 00:10:29.779 align:start position:0% you focus your efforts on the protocol 00:10:29.779 --> 00:10:31.720 align:start position:0% you focus your efforts on the protocol layer<00:10:29.959> only<00:10:30.290> but<00:10:30.949> you<00:10:31.069> know<00:10:31.189> from<00:10:31.639> the 00:10:31.720 --> 00:10:31.730 align:start position:0% layer only but you know from the 00:10:31.730 --> 00:10:33.220 align:start position:0% layer only but you know from the business<00:10:32.389> perspective<00:10:32.569> each<00:10:33.050> other 00:10:33.220 --> 00:10:33.230 align:start position:0% business perspective each other 00:10:33.230 --> 00:10:35.079 align:start position:0% business perspective each other difficult<00:10:33.679> right<00:10:33.980> you<00:10:34.369> just<00:10:34.550> live<00:10:34.699> it<00:10:34.819> up<00:10:34.910> to 00:10:35.079 --> 00:10:35.089 align:start position:0% difficult right you just live it up to 00:10:35.089 --> 00:10:36.549 align:start position:0% difficult right you just live it up to our<00:10:35.360> two<00:10:35.480> people<00:10:35.749> to<00:10:35.869> do<00:10:35.990> something<00:10:36.379> on<00:10:36.470> your 00:10:36.549 --> 00:10:36.559 align:start position:0% our two people to do something on your 00:10:36.559 --> 00:10:38.079 align:start position:0% our two people to do something on your protocol<00:10:37.009> and<00:10:37.220> each<00:10:37.309> other<00:10:37.519> difficulty 00:10:38.079 --> 00:10:38.089 align:start position:0% protocol and each other difficulty 00:10:38.089 --> 00:10:39.609 align:start position:0% protocol and each other difficulty beauty<00:10:38.540> business<00:10:38.720> model<00:10:39.170> on<00:10:39.319> your<00:10:39.439> back 00:10:39.609 --> 00:10:39.619 align:start position:0% beauty business model on your back 00:10:39.619 --> 00:10:42.160 align:start position:0% beauty business model on your back console<00:10:40.129> right<00:10:40.579> so<00:10:40.819> that's<00:10:41.029> why<00:10:41.179> people<00:10:41.600> want 00:10:42.160 --> 00:10:42.170 align:start position:0% console right so that's why people want 00:10:42.170 --> 00:10:44.079 align:start position:0% console right so that's why people want to<00:10:42.259> put<00:10:42.559> struck<00:10:42.860> this<00:10:42.980> activity<00:10:43.579> they<00:10:43.819> want<00:10:44.029> to 00:10:44.079 --> 00:10:44.089 align:start position:0% to put struck this activity they want to 00:10:44.089 --> 00:10:46.090 align:start position:0% to put struck this activity they want to earn<00:10:44.269> money<00:10:44.480> on<00:10:44.629> this<00:10:44.809> they<00:10:45.319> move<00:10:45.559> they<00:10:45.920> they 00:10:46.090 --> 00:10:46.100 align:start position:0% earn money on this they move they they 00:10:46.100 --> 00:10:47.769 align:start position:0% earn money on this they move they they are<00:10:46.249> building<00:10:46.579> this<00:10:46.670> conference<00:10:47.120> right<00:10:47.509> which 00:10:47.769 --> 00:10:47.779 align:start position:0% are building this conference right which 00:10:47.779 --> 00:10:50.590 align:start position:0% are building this conference right which which<00:10:48.170> might<00:10:48.829> get<00:10:49.129> them<00:10:49.370> some<00:10:49.850> some<00:10:50.149> regular 00:10:50.590 --> 00:10:50.600 align:start position:0% which might get them some some regular 00:10:50.600 --> 00:10:52.689 align:start position:0% which might get them some some regular Travis<00:10:50.990> and<00:10:51.740> actually<00:10:52.069> have<00:10:52.279> a<00:10:52.339> second 00:10:52.689 --> 00:10:52.699 align:start position:0% Travis and actually have a second 00:10:52.699 --> 00:11:14.889 align:start position:0% Travis and actually have a second example<00:10:53.410> which<00:10:54.410> is<00:11:11.709> again<00:11:12.709> it's<00:11:13.720> like<00:11:14.720> without 00:11:14.889 --> 00:11:14.899 align:start position:0% example which is again it's like without 00:11:14.899 --> 00:11:17.230 align:start position:0% example which is again it's like without any<00:11:15.199> confidence<00:11:15.740> right<00:11:16.069> but<00:11:16.730> I<00:11:16.759> think<00:11:17.059> it's 00:11:17.230 --> 00:11:17.240 align:start position:0% any confidence right but I think it's 00:11:17.240 --> 00:11:19.689 align:start position:0% any confidence right but I think it's like<00:11:17.959> I<00:11:18.110> think<00:11:18.170> it's<00:11:18.410> gonna<00:11:18.889> be<00:11:19.100> relative<00:11:19.490> like 00:11:19.689 --> 00:11:19.699 align:start position:0% like I think it's gonna be relative like 00:11:19.699 --> 00:11:21.699 align:start position:0% like I think it's gonna be relative like no<00:11:19.910> matter<00:11:20.089> what<00:11:20.480> was<00:11:20.749> that<00:11:20.929> like<00:11:21.110> a<00:11:21.139> precise 00:11:21.699 --> 00:11:21.709 align:start position:0% no matter what was that like a precise 00:11:21.709 --> 00:11:24.100 align:start position:0% no matter what was that like a precise legal<00:11:22.129> rule<00:11:22.550> or<00:11:22.759> its<00:11:22.910> interpretation<00:11:23.569> if 00:11:24.100 --> 00:11:24.110 align:start position:0% legal rule or its interpretation if 00:11:24.110 --> 00:11:25.780 align:start position:0% legal rule or its interpretation if that's<00:11:24.350> clear<00:11:24.679> that<00:11:24.980> you<00:11:25.279> know<00:11:25.459> you're 00:11:25.780 --> 00:11:25.790 align:start position:0% that's clear that you know you're 00:11:25.790 --> 00:11:27.819 align:start position:0% that's clear that you know you're providing<00:11:26.299> a<00:11:26.389> certain<00:11:26.779> financial<00:11:27.199> service 00:11:27.819 --> 00:11:27.829 align:start position:0% providing a certain financial service 00:11:27.829 --> 00:11:30.309 align:start position:0% providing a certain financial service via<00:11:28.160> this<00:11:28.459> certain<00:11:28.879> front-end<00:11:29.420> and<00:11:29.600> you<00:11:30.170> are 00:11:30.309 --> 00:11:30.319 align:start position:0% via this certain front-end and you are 00:11:30.319 --> 00:11:32.769 align:start position:0% via this certain front-end and you are like<00:11:30.679> using<00:11:30.920> this<00:11:31.399> like<00:11:31.819> claims<00:11:32.240> about<00:11:32.540> the 00:11:32.769 --> 00:11:32.779 align:start position:0% like using this like claims about the 00:11:32.779 --> 00:11:35.350 align:start position:0% like using this like claims about the centralization<00:11:33.519> smart<00:11:34.519> contract<00:11:35.029> based 00:11:35.350 --> 00:11:35.360 align:start position:0% centralization smart contract based 00:11:35.360 --> 00:11:38.199 align:start position:0% centralization smart contract based protocol<00:11:36.139> some<00:11:36.740> other<00:11:36.889> front<00:11:37.279> ends<00:11:37.519> this<00:11:38.149> is 00:11:38.199 --> 00:11:38.209 align:start position:0% protocol some other front ends this is 00:11:38.209 --> 00:11:40.329 align:start position:0% protocol some other front ends this is not<00:11:38.480> gonna<00:11:38.660> work<00:11:38.929> if<00:11:39.199> like<00:11:39.499> functionally<00:11:40.160> and 00:11:40.329 --> 00:11:40.339 align:start position:0% not gonna work if like functionally and 00:11:40.339 --> 00:11:42.730 align:start position:0% not gonna work if like functionally and practically<00:11:41.059> this<00:11:41.600> service<00:11:42.110> is<00:11:42.290> mostly 00:11:42.730 --> 00:11:42.740 align:start position:0% practically this service is mostly 00:11:42.740 --> 00:11:44.560 align:start position:0% practically this service is mostly available<00:11:42.920> via<00:11:43.490> the<00:11:43.549> single<00:11:43.999> Crompton 00:11:44.560 --> 00:11:44.570 align:start position:0% available via the single Crompton 00:11:44.570 --> 00:11:46.060 align:start position:0% available via the single Crompton does<00:11:44.840> not<00:11:44.990> make<00:11:45.170> it<00:11:45.320> different<00:11:45.710> from<00:11:45.770> any 00:11:46.060 --> 00:11:46.070 align:start position:0% does not make it different from any 00:11:46.070 --> 00:11:49.300 align:start position:0% does not make it different from any centralized<00:11:46.700> services<00:11:47.120> right<00:11:48.010> the<00:11:49.010> second 00:11:49.300 --> 00:11:49.310 align:start position:0% centralized services right the second 00:11:49.310 --> 00:11:51.130 align:start position:0% centralized services right the second example<00:11:49.610> is<00:11:49.910> said<00:11:50.090> mom<00:11:50.270> you<00:11:50.630> only<00:11:50.870> care<00:11:51.110> about 00:11:51.130 --> 00:11:51.140 align:start position:0% example is said mom you only care about 00:11:51.140 --> 00:11:54.850 align:start position:0% example is said mom you only care about like<00:11:51.770> the<00:11:51.920> recent<00:11:52.280> 5a<00:11:53.380> validations<00:11:54.380> this<00:11:54.680> is<00:11:54.830> a 00:11:54.850 --> 00:11:54.860 align:start position:0% like the recent 5a validations this is a 00:11:54.860 --> 00:11:57.960 align:start position:0% like the recent 5a validations this is a kind<00:11:55.130> of<00:11:55.250> like<00:11:55.430> a<00:11:55.460> global<00:11:55.970> ALL<00:11:56.770> regulatory 00:11:57.960 --> 00:11:57.970 align:start position:0% kind of like a global ALL regulatory 00:11:57.970 --> 00:12:00.520 align:start position:0% kind of like a global ALL regulatory ITER<00:11:58.970> governmental<00:11:59.570> body<00:11:59.870> there<00:12:00.470> are 00:12:00.520 --> 00:12:00.530 align:start position:0% ITER governmental body there are 00:12:00.530 --> 00:12:02.230 align:start position:0% ITER governmental body there are settings<00:12:00.860> and<00:12:01.130> certain<00:12:01.520> standards<00:12:01.970> and 00:12:02.230 --> 00:12:02.240 align:start position:0% settings and certain standards and 00:12:02.240 --> 00:12:06.220 align:start position:0% settings and certain standards and recently<00:12:02.840> they<00:12:03.530> came<00:12:04.780> up<00:12:05.780> with<00:12:05.990> a<00:12:06.020> new 00:12:06.220 --> 00:12:06.230 align:start position:0% recently they came up with a new 00:12:06.230 --> 00:12:08.440 align:start position:0% recently they came up with a new recommendation<00:12:06.550> that<00:12:07.550> is<00:12:07.730> very<00:12:08.000> relevant<00:12:08.210> for 00:12:08.440 --> 00:12:08.450 align:start position:0% recommendation that is very relevant for 00:12:08.450 --> 00:12:11.770 align:start position:0% recommendation that is very relevant for crypto<00:12:09.020> and<00:12:09.650> so<00:12:10.190> far<00:12:10.520> the<00:12:10.850> interpretations 00:12:11.770 --> 00:12:11.780 align:start position:0% crypto and so far the interpretations 00:12:11.780 --> 00:12:13.570 align:start position:0% crypto and so far the interpretations like<00:12:12.050> all<00:12:12.260> this<00:12:12.440> is<00:12:12.590> going<00:12:12.740> to<00:12:12.830> be<00:12:12.920> implemented 00:12:13.570 --> 00:12:13.580 align:start position:0% like all this is going to be implemented 00:12:13.580 --> 00:12:15.220 align:start position:0% like all this is going to be implemented in<00:12:13.700> something<00:12:14.060> in<00:12:14.240> all<00:12:14.360> the<00:12:14.600> countries<00:12:14.990> right 00:12:15.220 --> 00:12:15.230 align:start position:0% in something in all the countries right 00:12:15.230 --> 00:12:16.990 align:start position:0% in something in all the countries right so<00:12:15.440> this<00:12:15.590> is<00:12:15.650> like<00:12:15.770> a<00:12:15.950> inter<00:12:16.640> like 00:12:16.990 --> 00:12:17.000 align:start position:0% so this is like a inter like 00:12:17.000 --> 00:12:20.830 align:start position:0% so this is like a inter like international<00:12:17.900> level<00:12:18.230> that<00:12:18.380> says<00:12:18.850> and<00:12:19.850> so<00:12:20.540> far 00:12:20.830 --> 00:12:20.840 align:start position:0% international level that says and so far 00:12:20.840 --> 00:12:23.110 align:start position:0% international level that says and so far the<00:12:21.080> traditions<00:12:21.680> like<00:12:21.800> what<00:12:22.010> most<00:12:22.250> right<00:12:22.850> so 00:12:23.110 --> 00:12:23.120 align:start position:0% the traditions like what most right so 00:12:23.120 --> 00:12:25.120 align:start position:0% the traditions like what most right so they<00:12:23.300> recognize<00:12:23.990> that<00:12:24.020> they<00:12:24.830> seem<00:12:25.100> to 00:12:25.120 --> 00:12:25.130 align:start position:0% they recognize that they seem to 00:12:25.130 --> 00:12:26.740 align:start position:0% they recognize that they seem to recognize<00:12:25.430> that<00:12:25.820> if<00:12:26.000> there<00:12:26.210> is<00:12:26.300> a<00:12:26.330> certain 00:12:26.740 --> 00:12:26.750 align:start position:0% recognize that if there is a certain 00:12:26.750 --> 00:12:28.930 align:start position:0% recognize that if there is a certain service<00:12:27.170> that<00:12:27.590> is<00:12:27.680> decentralized<00:12:28.070> especially 00:12:28.930 --> 00:12:28.940 align:start position:0% service that is decentralized especially 00:12:28.940 --> 00:12:31.360 align:start position:0% service that is decentralized especially noncustodial<00:12:29.440> they<00:12:30.440> learn<00:12:30.740> requirements 00:12:31.360 --> 00:12:31.370 align:start position:0% noncustodial they learn requirements 00:12:31.370 --> 00:12:33.250 align:start position:0% noncustodial they learn requirements should<00:12:31.490> not<00:12:31.670> apply<00:12:31.880> right<00:12:32.390> but<00:12:32.870> we'll<00:12:33.050> see<00:12:33.230> how 00:12:33.250 --> 00:12:33.260 align:start position:0% should not apply right but we'll see how 00:12:33.260 --> 00:12:36.820 align:start position:0% should not apply right but we'll see how this<00:12:33.680> how<00:12:34.070> this<00:12:34.420> works<00:12:35.420> out<00:12:35.690> in<00:12:35.960> in<00:12:36.200> in<00:12:36.470> many 00:12:36.820 --> 00:12:36.830 align:start position:0% this how this works out in in in many 00:12:36.830 --> 00:12:39.900 align:start position:0% this how this works out in in in many countries<00:12:37.130> and<00:12:37.700> I<00:12:38.360> can<00:12:38.570> see<00:12:38.810> I<00:12:38.840> can<00:12:38.990> clearly 00:12:39.900 --> 00:12:39.910 align:start position:0% countries and I can see I can clearly 00:12:39.910 --> 00:12:42.310 align:start position:0% countries and I can see I can clearly see<00:12:40.910> that<00:12:41.210> in<00:12:41.450> some<00:12:41.660> places<00:12:41.990> the 00:12:42.310 --> 00:12:42.320 align:start position:0% see that in some places the 00:12:42.320 --> 00:12:43.870 align:start position:0% see that in some places the interpretation<00:12:42.890> might<00:12:43.040> be<00:12:43.190> different<00:12:43.640> right 00:12:43.870 --> 00:12:43.880 align:start position:0% interpretation might be different right 00:12:43.880 --> 00:12:47.620 align:start position:0% interpretation might be different right so<00:12:44.150> actually<00:12:44.870> something<00:12:45.520> that<00:12:46.520> is<00:12:46.760> providing 00:12:47.620 --> 00:12:47.630 align:start position:0% so actually something that is providing 00:12:47.630 --> 00:12:49.840 align:start position:0% so actually something that is providing you<00:12:47.840> know<00:12:47.900> even<00:12:48.440> if<00:12:48.590> it<00:12:48.740> is<00:12:48.830> not<00:12:49.040> custodial<00:12:49.700> but 00:12:49.840 --> 00:12:49.850 align:start position:0% you know even if it is not custodial but 00:12:49.850 --> 00:12:52.000 align:start position:0% you know even if it is not custodial but it's<00:12:50.000> providing<00:12:50.630> like<00:12:51.200> virtually<00:12:51.770> the<00:12:51.980> same 00:12:52.000 --> 00:12:52.010 align:start position:0% it's providing like virtually the same 00:12:52.010 --> 00:12:55.080 align:start position:0% it's providing like virtually the same services<00:12:52.850> as<00:12:53.240> some<00:12:53.600> centralized<00:12:54.320> products 00:12:55.080 --> 00:12:55.090 align:start position:0% services as some centralized products 00:12:55.090 --> 00:12:57.910 align:start position:0% services as some centralized products it's<00:12:56.090> gonna<00:12:56.270> be<00:12:56.480> subject<00:12:56.720> to<00:12:56.960> my<00:12:57.140> requirements 00:12:57.910 --> 00:12:57.920 align:start position:0% it's gonna be subject to my requirements 00:12:57.920 --> 00:12:59.770 align:start position:0% it's gonna be subject to my requirements which<00:12:58.160> is<00:12:58.280> of<00:12:58.430> course<00:12:58.610> like<00:12:58.940> difficult<00:12:59.240> right 00:12:59.770 --> 00:12:59.780 align:start position:0% which is of course like difficult right 00:12:59.780 --> 00:13:01.570 align:start position:0% which is of course like difficult right because<00:13:00.110> you<00:13:00.470> know<00:13:00.620> there's<00:13:01.040> nothing<00:13:01.250> like 00:13:01.570 --> 00:13:01.580 align:start position:0% because you know there's nothing like 00:13:01.580 --> 00:13:04.330 align:start position:0% because you know there's nothing like I've<00:13:02.300> ever<00:13:02.360> liked<00:13:02.990> a<00:13:03.230> ml<00:13:03.710> at<00:13:03.830> the<00:13:03.920> protocol 00:13:04.330 --> 00:13:04.340 align:start position:0% I've ever liked a ml at the protocol 00:13:04.340 --> 00:13:06.820 align:start position:0% I've ever liked a ml at the protocol level<00:13:04.400> you<00:13:05.120> need<00:13:05.240> to<00:13:05.420> apply<00:13:05.540> a<00:13:05.960> valid<00:13:06.350> opponent 00:13:06.820 --> 00:13:06.830 align:start position:0% level you need to apply a valid opponent 00:13:06.830 --> 00:13:09.460 align:start position:0% level you need to apply a valid opponent level<00:13:07.160> and<00:13:07.370> then<00:13:07.910> you<00:13:08.210> know<00:13:08.360> you<00:13:09.050> end<00:13:09.230> up<00:13:09.350> in 00:13:09.460 --> 00:13:09.470 align:start position:0% level and then you know you end up in 00:13:09.470 --> 00:13:11.170 align:start position:0% level and then you know you end up in the<00:13:09.560> situation<00:13:09.740> in<00:13:10.100> which<00:13:10.190> this<00:13:10.430> protocol<00:13:11.030> is 00:13:11.170 --> 00:13:11.180 align:start position:0% the situation in which this protocol is 00:13:11.180 --> 00:13:13.570 align:start position:0% the situation in which this protocol is not<00:13:11.240> so<00:13:11.870> relevant<00:13:12.080> anymore<00:13:12.500> because<00:13:12.920> there 00:13:13.570 --> 00:13:13.580 align:start position:0% not so relevant anymore because there 00:13:13.580 --> 00:13:15.820 align:start position:0% not so relevant anymore because there you<00:13:14.210> need<00:13:14.390> the<00:13:14.480> second<00:13:14.810> frontal<00:13:15.200> operator<00:13:15.560> to 00:13:15.820 --> 00:13:15.830 align:start position:0% you need the second frontal operator to 00:13:15.830 --> 00:13:19.780 align:start position:0% you need the second frontal operator to use<00:13:15.860> the<00:13:16.250> services<00:13:17.470> so<00:13:18.470> now<00:13:18.650> some<00:13:19.580> questions 00:13:19.780 --> 00:13:19.790 align:start position:0% use the services so now some questions 00:13:19.790 --> 00:13:22.150 align:start position:0% use the services so now some questions to<00:13:20.300> you<00:13:20.480> guys<00:13:20.690> that<00:13:21.620> I'm<00:13:21.740> really<00:13:22.010> curious 00:13:22.150 --> 00:13:22.160 align:start position:0% to you guys that I'm really curious 00:13:22.160 --> 00:13:25.330 align:start position:0% to you guys that I'm really curious about<00:13:23.230> this<00:13:24.230> is<00:13:24.410> the<00:13:24.500> first<00:13:24.740> one<00:13:24.950> from<00:13:25.220> the 00:13:25.330 --> 00:13:25.340 align:start position:0% about this is the first one from the 00:13:25.340 --> 00:13:26.770 align:start position:0% about this is the first one from the plane<00:13:25.550> it's<00:13:25.940> the<00:13:26.120> problem<00:13:26.330> that<00:13:26.540> they<00:13:26.660> just 00:13:26.770 --> 00:13:26.780 align:start position:0% plane it's the problem that they just 00:13:26.780 --> 00:13:28.810 align:start position:0% plane it's the problem that they just presented<00:13:27.320> here<00:13:27.890> we<00:13:27.980> consider<00:13:28.340> this<00:13:28.460> problem 00:13:28.810 --> 00:13:28.820 align:start position:0% presented here we consider this problem 00:13:28.820 --> 00:13:32.290 align:start position:0% presented here we consider this problem before<00:13:28.940> right<00:13:29.450> so<00:13:29.810> I<00:13:30.440> know<00:13:30.860> that<00:13:31.040> my<00:13:31.340> majority 00:13:32.290 --> 00:13:32.300 align:start position:0% before right so I know that my majority 00:13:32.300 --> 00:13:34.150 align:start position:0% before right so I know that my majority of<00:13:32.390> you<00:13:32.540> are<00:13:32.990> working<00:13:33.260> different<00:13:33.770> projects 00:13:34.150 --> 00:13:34.160 align:start position:0% of you are working different projects 00:13:34.160 --> 00:13:35.800 align:start position:0% of you are working different projects and<00:13:34.370> not<00:13:34.580> the<00:13:34.730> question<00:13:35.090> is<00:13:35.240> did<00:13:35.690> you<00:13:35.720> consider 00:13:35.800 --> 00:13:35.810 align:start position:0% and not the question is did you consider 00:13:35.810 --> 00:13:37.980 align:start position:0% and not the question is did you consider this 00:13:37.980 --> 00:13:37.990 align:start position:0% this 00:13:37.990 --> 00:13:45.580 align:start position:0% this [Music] 00:13:45.580 --> 00:13:45.590 align:start position:0% 00:13:45.590 --> 00:13:53.240 align:start position:0% right<00:13:47.360> my<00:13:48.360> killer<00:13:51.830> doesn't<00:13:52.830> work<00:13:53.040> for 00:13:53.240 --> 00:13:53.250 align:start position:0% right my killer doesn't work for 00:13:53.250 --> 00:13:53.810 align:start position:0% right my killer doesn't work for everyone 00:13:53.810 --> 00:13:53.820 align:start position:0% everyone 00:13:53.820 --> 00:14:08.150 align:start position:0% everyone this<00:13:54.030> is<00:13:54.360> polling<00:13:54.810> social 00:14:08.150 --> 00:14:08.160 align:start position:0% 00:14:08.160 --> 00:14:11.950 align:start position:0% all<00:14:08.700> right<00:14:08.880> that's<00:14:09.510> interesting<00:14:10.020> so<00:14:10.050> there<00:14:10.740> is 00:14:11.950 --> 00:14:11.960 align:start position:0% all right that's interesting so there is 00:14:11.960 --> 00:14:14.630 align:start position:0% all right that's interesting so there is this<00:14:12.960> problem<00:14:13.170> it<00:14:13.950> would<00:14:14.160> be<00:14:14.220> great<00:14:14.400> to<00:14:14.430> hear 00:14:14.630 --> 00:14:14.640 align:start position:0% this problem it would be great to hear 00:14:14.640 --> 00:14:17.150 align:start position:0% this problem it would be great to hear some<00:14:14.820> discussion<00:14:15.300> but<00:14:15.480> let<00:14:15.660> let's<00:14:16.050> tone<00:14:16.920> it<00:14:16.950> up 00:14:17.150 --> 00:14:17.160 align:start position:0% some discussion but let let's tone it up 00:14:17.160 --> 00:14:20.390 align:start position:0% some discussion but let let's tone it up till<00:14:17.310> my<00:14:17.550> last<00:14:17.970> question<00:14:19.130> the<00:14:20.130> second 00:14:20.390 --> 00:14:20.400 align:start position:0% till my last question the second 00:14:20.400 --> 00:14:22.820 align:start position:0% till my last question the second question<00:14:20.430> is<00:14:20.850> how<00:14:20.990> relevant<00:14:21.990> is<00:14:22.320> this<00:14:22.560> issue 00:14:22.820 --> 00:14:22.830 align:start position:0% question is how relevant is this issue 00:14:22.830 --> 00:14:25.690 align:start position:0% question is how relevant is this issue for<00:14:23.040> your<00:14:23.250> party<00:14:23.610> you<00:14:24.360> want<00:14:24.570> your<00:14:24.720> reward 00:14:25.690 --> 00:14:25.700 align:start position:0% for your party you want your reward 00:14:25.700 --> 00:14:28.070 align:start position:0% for your party you want your reward is<00:14:26.700> this<00:14:26.850> something<00:14:27.120> you<00:14:27.360> think<00:14:27.390> that<00:14:27.750> it's 00:14:28.070 --> 00:14:28.080 align:start position:0% is this something you think that it's 00:14:28.080 --> 00:14:30.710 align:start position:0% is this something you think that it's you<00:14:28.500> know<00:14:28.530> you<00:14:28.890> have<00:14:29.610> consider<00:14:29.940> this<00:14:30.210> but<00:14:30.510> is 00:14:30.710 --> 00:14:30.720 align:start position:0% you know you have consider this but is 00:14:30.720 --> 00:14:45.520 align:start position:0% you know you have consider this but is it<00:14:30.750> relevant 00:14:45.520 --> 00:14:45.530 align:start position:0% 00:14:45.530 --> 00:14:47.740 align:start position:0% that's<00:14:46.130> like<00:14:46.400> this<00:14:46.610> results<00:14:47.120> is<00:14:47.240> surgical 00:14:47.740 --> 00:14:47.750 align:start position:0% that's like this results is surgical 00:14:47.750 --> 00:14:51.340 align:start position:0% that's like this results is surgical information<00:14:48.260> of<00:14:48.380> the<00:14:48.500> fact<00:14:48.770> that<00:14:48.890> it's<00:14:50.350> like 00:14:51.340 --> 00:14:51.350 align:start position:0% information of the fact that it's like 00:14:51.350 --> 00:14:53.320 align:start position:0% information of the fact that it's like large<00:14:51.620> majorities<00:14:52.130> saying<00:14:52.460> property<00:14:53.060> saying 00:14:53.320 --> 00:14:53.330 align:start position:0% large majorities saying property saying 00:14:53.330 --> 00:14:54.460 align:start position:0% large majorities saying property saying that<00:14:53.510> it's<00:14:53.660> relevant 00:14:54.460 --> 00:14:54.470 align:start position:0% that it's relevant 00:14:54.470 --> 00:14:55.900 align:start position:0% that it's relevant the<00:14:54.620> surgical<00:14:54.980> information<00:14:55.580> there<00:14:55.700> is<00:14:55.880> a 00:14:55.900 --> 00:14:55.910 align:start position:0% the surgical information there is a 00:14:55.910 --> 00:14:57.730 align:start position:0% the surgical information there is a certain<00:14:56.330> problem<00:14:56.600> in<00:14:56.990> the<00:14:57.080> difference<00:14:57.590> with 00:14:57.730 --> 00:14:57.740 align:start position:0% certain problem in the difference with 00:14:57.740 --> 00:14:59.620 align:start position:0% certain problem in the difference with that<00:14:58.100> that<00:14:58.820> you<00:14:58.850> actually<00:14:59.060> people<00:14:59.480> are 00:14:59.620 --> 00:14:59.630 align:start position:0% that that you actually people are 00:14:59.630 --> 00:15:03.880 align:start position:0% that that you actually people are actually<00:14:59.900> building<00:15:00.170> this<00:15:00.380> competence<00:15:02.560> on<00:15:03.560> top 00:15:03.880 --> 00:15:03.890 align:start position:0% actually building this competence on top 00:15:03.890 --> 00:15:06.670 align:start position:0% actually building this competence on top of<00:15:04.100> there<00:15:04.310> are<00:15:04.400> other<00:15:04.550> protocols<00:15:05.410> and<00:15:06.410> there 00:15:06.670 --> 00:15:06.680 align:start position:0% of there are other protocols and there 00:15:06.680 --> 00:15:09.960 align:start position:0% of there are other protocols and there is<00:15:06.800> like<00:15:07.640> there<00:15:07.910> is<00:15:08.000> the<00:15:08.150> second<00:15:08.510> level<00:15:08.660> of 00:15:09.960 --> 00:15:09.970 align:start position:0% is like there is the second level of 00:15:09.970 --> 00:15:12.490 align:start position:0% is like there is the second level of course<00:15:10.970> I<00:15:11.120> not<00:15:11.300> you<00:15:11.690> know<00:15:11.810> this<00:15:12.050> is<00:15:12.170> not<00:15:12.350> to 00:15:12.490 --> 00:15:12.500 align:start position:0% course I not you know this is not to 00:15:12.500 --> 00:15:14.470 align:start position:0% course I not you know this is not to scare<00:15:12.830> you<00:15:13.130> all<00:15:13.280> right<00:15:13.670> this<00:15:13.880> problems<00:15:14.270> that 00:15:14.470 --> 00:15:14.480 align:start position:0% scare you all right this problems that 00:15:14.480 --> 00:15:16.150 align:start position:0% scare you all right this problems that presenting<00:15:14.960> they're<00:15:15.200> just<00:15:15.410> issues<00:15:15.860> that<00:15:16.130> I 00:15:16.150 --> 00:15:16.160 align:start position:0% presenting they're just issues that I 00:15:16.160 --> 00:15:18.010 align:start position:0% presenting they're just issues that I think<00:15:16.310> we<00:15:16.760> we<00:15:17.060> should<00:15:17.090> like<00:15:17.420> spread<00:15:17.780> knowledge 00:15:18.010 --> 00:15:18.020 align:start position:0% think we we should like spread knowledge 00:15:18.020 --> 00:15:21.300 align:start position:0% think we we should like spread knowledge about<00:15:18.470> them<00:15:18.740> also<00:15:19.340> in<00:15:20.330> order<00:15:20.600> to<00:15:20.780> educate 00:15:21.300 --> 00:15:21.310 align:start position:0% about them also in order to educate 00:15:21.310 --> 00:15:23.530 align:start position:0% about them also in order to educate regulators<00:15:22.310> and<00:15:22.520> lawmakers<00:15:22.670> about<00:15:23.360> these 00:15:23.530 --> 00:15:23.540 align:start position:0% regulators and lawmakers about these 00:15:23.540 --> 00:15:24.940 align:start position:0% regulators and lawmakers about these problems<00:15:23.960> right<00:15:24.200> because<00:15:24.500> sometimes<00:15:24.680> these 00:15:24.940 --> 00:15:24.950 align:start position:0% problems right because sometimes these 00:15:24.950 --> 00:15:27.190 align:start position:0% problems right because sometimes these people<00:15:25.280> are<00:15:25.490> are<00:15:25.970> just<00:15:26.030> not<00:15:26.390> aware<00:15:26.570> that<00:15:26.990> there 00:15:27.190 --> 00:15:27.200 align:start position:0% people are are just not aware that there 00:15:27.200 --> 00:15:30.100 align:start position:0% people are are just not aware that there is<00:15:27.320> displayed<00:15:27.830> between<00:15:28.070> per<00:15:28.870> sometimes<00:15:29.870> like 00:15:30.100 --> 00:15:30.110 align:start position:0% is displayed between per sometimes like 00:15:30.110 --> 00:15:32.110 align:start position:0% is displayed between per sometimes like quite<00:15:30.350> obvious<00:15:30.650> to<00:15:30.680> us<00:15:30.950> but<00:15:30.980> not<00:15:31.370> to<00:15:31.460> them<00:15:31.670> they 00:15:32.110 --> 00:15:32.120 align:start position:0% quite obvious to us but not to them they 00:15:32.120 --> 00:15:36.070 align:start position:0% quite obvious to us but not to them they split<00:15:32.360> between<00:15:34.090> another<00:15:35.090> more<00:15:35.810> general 00:15:36.070 --> 00:15:36.080 align:start position:0% split between another more general 00:15:36.080 --> 00:15:38.080 align:start position:0% split between another more general question<00:15:36.500> how<00:15:36.770> relevant<00:15:37.100> is<00:15:37.340> this<00:15:37.580> for<00:15:38.000> the 00:15:38.080 --> 00:15:38.090 align:start position:0% question how relevant is this for the 00:15:38.090 --> 00:16:07.400 align:start position:0% question how relevant is this for the entire<00:15:38.330> deeper<00:15:38.810> space<00:15:39.050> in<00:15:39.590> your 00:16:07.400 --> 00:16:07.410 align:start position:0% 00:16:07.410 --> 00:16:15.510 align:start position:0% all<00:16:08.410> right<00:16:11.970> and<00:16:12.970> the<00:16:13.180> last<00:16:13.660> key<00:16:14.170> question<00:16:14.710> is 00:16:15.510 --> 00:16:15.520 align:start position:0% all right and the last key question is 00:16:15.520 --> 00:16:18.050 align:start position:0% all right and the last key question is with<00:16:15.850> everyone's<00:16:16.330> finished<00:16:16.780> with<00:16:16.960> this<00:16:17.110> way 00:16:18.050 --> 00:16:18.060 align:start position:0% with everyone's finished with this way 00:16:18.060 --> 00:16:21.270 align:start position:0% with everyone's finished with this way what's<00:16:19.060> the<00:16:19.240> best<00:16:19.450> solution<00:16:19.660> so<00:16:20.590> initially<00:16:21.250> I 00:16:21.270 --> 00:16:21.280 align:start position:0% what's the best solution so initially I 00:16:21.280 --> 00:16:23.160 align:start position:0% what's the best solution so initially I was<00:16:21.430> planning<00:16:21.910> this<00:16:22.150> as<00:16:22.480> like<00:16:22.930> myself 00:16:23.160 --> 00:16:23.170 align:start position:0% was planning this as like myself 00:16:23.170 --> 00:16:25.380 align:start position:0% was planning this as like myself proposing<00:16:23.770> some<00:16:24.160> solutions<00:16:24.640> to<00:16:24.700> banks<00:16:25.180> but 00:16:25.380 --> 00:16:25.390 align:start position:0% proposing some solutions to banks but 00:16:25.390 --> 00:16:28.470 align:start position:0% proposing some solutions to banks but I'm<00:16:25.510> very<00:16:25.900> very<00:16:26.260> curious<00:16:26.890> about<00:16:27.240> about<00:16:28.240> your 00:16:28.470 --> 00:16:28.480 align:start position:0% I'm very very curious about about your 00:16:28.480 --> 00:16:30.510 align:start position:0% I'm very very curious about about your solution<00:16:29.020> so<00:16:29.140> here<00:16:29.350> again<00:16:29.470> propose<00:16:30.070> I<00:16:30.340> think 00:16:30.510 --> 00:16:30.520 align:start position:0% solution so here again propose I think 00:16:30.520 --> 00:16:34.980 align:start position:0% solution so here again propose I think to<00:16:32.010> two<00:16:33.010> solutions<00:16:33.550> and<00:16:33.760> then<00:16:34.120> upvote<00:16:34.720> or 00:16:34.980 --> 00:16:34.990 align:start position:0% to two solutions and then upvote or 00:16:34.990 --> 00:16:57.420 align:start position:0% to two solutions and then upvote or downvote<00:16:36.030> solutions<00:16:37.030> provided<00:16:37.450> by<00:16:45.630> anyone 00:16:57.420 --> 00:16:57.430 align:start position:0% 00:16:57.430 --> 00:17:00.210 align:start position:0% rememberable<00:16:58.450> unfolding<00:16:59.350> in<00:16:59.470> Dublin<00:16:59.860> this 00:17:00.210 --> 00:17:00.220 align:start position:0% rememberable unfolding in Dublin this 00:17:00.220 --> 00:17:02.220 align:start position:0% rememberable unfolding in Dublin this will<00:17:00.430> give<00:17:00.580> us<00:17:00.670> a<00:17:00.730> filling<00:17:01.210> of<00:17:01.360> what<00:17:01.720> will 00:17:02.220 --> 00:17:02.230 align:start position:0% will give us a filling of what will 00:17:02.230 --> 00:17:04.690 align:start position:0% will give us a filling of what will English<00:17:02.650> at<00:17:03.010> work 00:17:04.690 --> 00:17:04.700 align:start position:0% English at work 00:17:04.700 --> 00:17:14.750 align:start position:0% English at work [Music] 00:17:14.750 --> 00:17:14.760 align:start position:0% 00:17:14.760 --> 00:17:26.660 align:start position:0% start<00:17:15.390> in<00:17:15.510> your<00:17:15.540> country 00:17:26.660 --> 00:17:26.670 align:start position:0% 00:17:26.670 --> 00:17:46.680 align:start position:0% [Music] 00:17:46.680 --> 00:17:46.690 align:start position:0% 00:17:46.690 --> 00:17:49.440 align:start position:0% I'd<00:17:47.690> like<00:17:47.840> to<00:17:47.990> start<00:17:48.230> a<00:17:48.320> new<00:17:48.470> luxury<00:17:48.680> option 00:17:49.440 --> 00:17:49.450 align:start position:0% I'd like to start a new luxury option 00:17:49.450 --> 00:18:03.810 align:start position:0% I'd like to start a new luxury option that's<00:17:50.450> that's<00:17:50.810> a<00:17:50.930> coolness<00:17:51.250> but<00:17:52.250> it's 00:18:03.810 --> 00:18:03.820 align:start position:0% 00:18:03.820 --> 00:18:14.370 align:start position:0% [Music] 00:18:14.370 --> 00:18:14.380 align:start position:0% 00:18:14.380 --> 00:18:17.700 align:start position:0% all<00:18:15.190> right<00:18:15.429> so<00:18:15.970> it<00:18:16.090> seems<00:18:16.299> to<00:18:16.360> me<00:18:16.470> since<00:18:17.470> my 00:18:17.700 --> 00:18:17.710 align:start position:0% all right so it seems to me since my 00:18:17.710 --> 00:18:20.549 align:start position:0% all right so it seems to me since my multiple<00:18:18.400> constants<00:18:18.850> this<00:18:19.230> is<00:18:20.230> the<00:18:20.380> winning 00:18:20.549 --> 00:18:20.559 align:start position:0% multiple constants this is the winning 00:18:20.559 --> 00:18:23.310 align:start position:0% multiple constants this is the winning option<00:18:20.980> yet<00:18:21.400> look<00:18:22.090> at<00:18:22.120> that<00:18:22.330> like<00:18:22.630> IP<00:18:22.840> advice 00:18:23.310 --> 00:18:23.320 align:start position:0% option yet look at that like IP advice 00:18:23.320 --> 00:18:26.760 align:start position:0% option yet look at that like IP advice up<00:18:23.559> here<00:18:23.799> to<00:18:23.950> Natalie's<00:18:24.720> right<00:18:25.720> so<00:18:26.500> that's 00:18:26.760 --> 00:18:26.770 align:start position:0% up here to Natalie's right so that's 00:18:26.770 --> 00:18:29.159 align:start position:0% up here to Natalie's right so that's that's<00:18:27.549> certainly<00:18:27.970> a<00:18:28.330> solution<00:18:28.840> that<00:18:28.990> also 00:18:29.159 --> 00:18:29.169 align:start position:0% that's certainly a solution that also 00:18:29.169 --> 00:18:36.810 align:start position:0% that's certainly a solution that also came<00:18:29.559> to<00:18:29.679> my<00:18:29.799> mind<00:18:33.210> that's<00:18:34.210> anyone<00:18:35.070> any<00:18:36.070> like<00:18:36.610> a 00:18:36.810 --> 00:18:36.820 align:start position:0% came to my mind that's anyone any like a 00:18:36.820 --> 00:18:40.950 align:start position:0% came to my mind that's anyone any like a proponent<00:18:37.299> of<00:18:37.600> this<00:18:37.780> idea<00:18:39.179> know<00:18:40.179> like<00:18:40.720> what's 00:18:40.950 --> 00:18:40.960 align:start position:0% proponent of this idea know like what's 00:18:40.960 --> 00:18:43.919 align:start position:0% proponent of this idea know like what's the<00:18:41.169> state<00:18:41.530> of<00:18:41.830> like<00:18:42.610> actually<00:18:43.240> being<00:18:43.450> able<00:18:43.720> to 00:18:43.919 --> 00:18:43.929 align:start position:0% the state of like actually being able to 00:18:43.929 --> 00:18:47.330 align:start position:0% the state of like actually being able to decentralize<00:18:44.770> both<00:18:45.640> losting<00:18:46.210> and<00:18:46.390> domains 00:18:47.330 --> 00:18:47.340 align:start position:0% decentralize both losting and domains 00:18:47.340 --> 00:18:50.340 align:start position:0% decentralize both losting and domains that<00:18:48.340> is<00:18:48.640> anyone<00:18:49.059> aware<00:18:49.330> of<00:18:49.630> Lucas<00:18:50.110> like 00:18:50.340 --> 00:18:50.350 align:start position:0% that is anyone aware of Lucas like 00:18:50.350 --> 00:18:52.440 align:start position:0% that is anyone aware of Lucas like everyone<00:18:51.070> knows<00:18:51.190> that<00:18:51.250> it's<00:18:51.610> possible<00:18:52.120> right 00:18:52.440 --> 00:18:52.450 align:start position:0% everyone knows that it's possible right 00:18:52.450 --> 00:18:54.570 align:start position:0% everyone knows that it's possible right but<00:18:52.780> I<00:18:52.960> haven't<00:18:53.440> seen<00:18:53.710> anything<00:18:54.190> like<00:18:54.220> that<00:18:54.429> in 00:18:54.570 --> 00:18:54.580 align:start position:0% but I haven't seen anything like that in 00:18:54.580 --> 00:18:59.570 align:start position:0% but I haven't seen anything like that in practice<00:18:55.090> I<00:18:55.740> would<00:18:56.740> say<00:18:56.919> the<00:18:57.070> state<00:18:57.280> is<00:18:57.520> that<00:18:57.659> I 00:18:59.570 --> 00:18:59.580 align:start position:0% practice I would say the state is that I 00:18:59.580 --> 00:19:03.270 align:start position:0% practice I would say the state is that I like<00:19:00.580> the<00:19:01.450> the<00:19:01.480> problem<00:19:02.169> is<00:19:02.289> the<00:19:02.500> DNS<00:19:02.860> entry 00:19:03.270 --> 00:19:03.280 align:start position:0% like the the problem is the DNS entry 00:19:03.280 --> 00:19:07.140 align:start position:0% like the the problem is the DNS entry you<00:19:03.730> can<00:19:04.210> you<00:19:04.480> can<00:19:04.659> use<00:19:05.039> DNS<00:19:06.039> or<00:19:06.220> something<00:19:06.549> and 00:19:07.140 --> 00:19:07.150 align:start position:0% you can you can use DNS or something and 00:19:07.150 --> 00:19:10.590 align:start position:0% you can you can use DNS or something and I<00:19:07.299> think<00:19:07.630> now<00:19:07.990> like<00:19:08.409> metal<00:19:08.919> mask<00:19:09.100> will<00:19:09.600> handle 00:19:10.590 --> 00:19:10.600 align:start position:0% I think now like metal mask will handle 00:19:10.600 --> 00:19:12.299 align:start position:0% I think now like metal mask will handle getting<00:19:11.289> you<00:19:11.440> to<00:19:11.620> that<00:19:11.770> domain<00:19:12.039> I<00:19:12.070> may<00:19:12.250> be 00:19:12.299 --> 00:19:12.309 align:start position:0% getting you to that domain I may be 00:19:12.309 --> 00:19:13.740 align:start position:0% getting you to that domain I may be wrong<00:19:12.520> but<00:19:12.730> the<00:19:13.150> problem<00:19:13.360> is<00:19:13.450> that's<00:19:13.539> not 00:19:13.740 --> 00:19:13.750 align:start position:0% wrong but the problem is that's not 00:19:13.750 --> 00:19:15.390 align:start position:0% wrong but the problem is that's not widely<00:19:13.960> supported<00:19:14.110> so<00:19:14.650> in<00:19:14.770> the<00:19:14.830> end<00:19:14.980> you<00:19:15.220> if 00:19:15.390 --> 00:19:15.400 align:start position:0% widely supported so in the end you if 00:19:15.400 --> 00:19:17.430 align:start position:0% widely supported so in the end you if you<00:19:15.580> want<00:19:15.789> any<00:19:16.030> body<00:19:16.539> to<00:19:16.900> just<00:19:17.049> be<00:19:17.200> able<00:19:17.289> to 00:19:17.430 --> 00:19:17.440 align:start position:0% you want any body to just be able to 00:19:17.440 --> 00:19:20.760 align:start position:0% you want any body to just be able to access<00:19:17.559> your<00:19:17.710> website<00:19:19.230> you<00:19:20.230> need<00:19:20.409> something 00:19:20.760 --> 00:19:20.770 align:start position:0% access your website you need something 00:19:20.770 --> 00:19:22.560 align:start position:0% access your website you need something you<00:19:20.830> need<00:19:20.980> something<00:19:21.340> somewhere<00:19:21.700> for 00:19:22.560 --> 00:19:22.570 align:start position:0% you need something somewhere for 00:19:22.570 --> 00:19:24.570 align:start position:0% you need something somewhere for basically<00:19:22.960> anyone<00:19:23.380> except<00:19:23.770> the<00:19:23.950> most<00:19:24.100> already 00:19:24.570 --> 00:19:24.580 align:start position:0% basically anyone except the most already 00:19:24.580 --> 00:19:25.779 align:start position:0% basically anyone except the most already taken<00:19:25.450> it 00:19:25.779 --> 00:19:25.789 align:start position:0% taken it 00:19:25.789 --> 00:19:28.269 align:start position:0% taken it yeah<00:19:26.779> because<00:19:27.529> I<00:19:27.679> can<00:19:27.830> you<00:19:27.889> say<00:19:28.039> like 00:19:28.269 --> 00:19:28.279 align:start position:0% yeah because I can you say like 00:19:28.279 --> 00:19:29.859 align:start position:0% yeah because I can you say like definitely<00:19:28.820> like<00:19:28.940> this<00:19:29.059> tech<00:19:29.359> technological 00:19:29.859 --> 00:19:29.869 align:start position:0% definitely like this tech technological 00:19:29.869 --> 00:19:32.979 align:start position:0% definitely like this tech technological solution<00:19:30.619> right<00:19:31.399> so<00:19:31.700> just<00:19:32.269> like<00:19:32.419> from<00:19:32.809> things 00:19:32.979 --> 00:19:32.989 align:start position:0% solution right so just like from things 00:19:32.989 --> 00:19:34.029 align:start position:0% solution right so just like from things are<00:19:33.169> a<00:19:33.200> problem<00:19:33.649> because<00:19:33.739> they<00:19:33.919> are 00:19:34.029 --> 00:19:34.039 align:start position:0% are a problem because they are 00:19:34.039 --> 00:19:35.409 align:start position:0% are a problem because they are centralized<00:19:34.639> so<00:19:34.789> let's<00:19:34.970> decentralize 00:19:35.409 --> 00:19:35.419 align:start position:0% centralized so let's decentralize 00:19:35.419 --> 00:19:37.599 align:start position:0% centralized so let's decentralize Commons<00:19:35.869> would<00:19:36.559> be<00:19:36.739> would<00:19:37.039> be<00:19:37.070> probably<00:19:37.369> a 00:19:37.599 --> 00:19:37.609 align:start position:0% Commons would be would be probably a 00:19:37.609 --> 00:19:39.820 align:start position:0% Commons would be would be probably a very<00:19:37.850> good<00:19:38.029> solution<00:19:38.239> right<00:19:38.659> but<00:19:38.899> like<00:19:39.320> the 00:19:39.820 --> 00:19:39.830 align:start position:0% very good solution right but like the 00:19:39.830 --> 00:19:41.889 align:start position:0% very good solution right but like the fact<00:19:40.100> that<00:19:40.220> it's<00:19:40.489> not<00:19:40.729> does<00:19:41.210> not<00:19:41.239> exist<00:19:41.779> in 00:19:41.889 --> 00:19:41.899 align:start position:0% fact that it's not does not exist in 00:19:41.899 --> 00:19:44.889 align:start position:0% fact that it's not does not exist in practice<00:19:42.320> like<00:19:42.820> like<00:19:43.820> items<00:19:44.149> like<00:19:44.389> at<00:19:44.629> least 00:19:44.889 --> 00:19:44.899 align:start position:0% practice like like items like at least 00:19:44.899 --> 00:19:48.039 align:start position:0% practice like like items like at least my<00:19:45.109> conclusion<00:19:45.559> is<00:19:45.649> that<00:19:45.679> it's<00:19:46.009> not<00:19:46.220> ready<00:19:47.049> it 00:19:48.039 --> 00:19:48.049 align:start position:0% my conclusion is that it's not ready it 00:19:48.049 --> 00:19:50.080 align:start position:0% my conclusion is that it's not ready it does<00:19:48.470> not<00:19:48.679> exist<00:19:48.859> right<00:19:49.399> it's<00:19:49.580> a<00:19:49.669> physical 00:19:50.080 --> 00:19:50.090 align:start position:0% does not exist right it's a physical 00:19:50.090 --> 00:19:53.200 align:start position:0% does not exist right it's a physical solution<00:19:50.269> that<00:19:50.629> is<00:19:50.749> not<00:19:50.779> available<00:19:51.259> right<00:19:51.950> now 00:19:53.200 --> 00:19:53.210 align:start position:0% solution that is not available right now 00:19:53.210 --> 00:19:56.080 align:start position:0% solution that is not available right now multiple<00:19:53.809> contacts<00:19:54.289> that's<00:19:55.190> that's<00:19:55.580> that's<00:19:55.879> a 00:19:56.080 --> 00:19:56.090 align:start position:0% multiple contacts that's that's that's a 00:19:56.090 --> 00:19:58.450 align:start position:0% multiple contacts that's that's that's a really<00:19:56.389> cool<00:19:56.539> idea<00:19:56.659> that<00:19:57.019> is<00:19:57.350> like<00:19:57.649> at<00:19:58.309> least 00:19:58.450 --> 00:19:58.460 align:start position:0% really cool idea that is like at least 00:19:58.460 --> 00:20:02.409 align:start position:0% really cool idea that is like at least what<00:19:58.789> we<00:19:58.999> see<00:19:59.059> as<00:19:59.330> well<00:19:59.649> it's<00:20:00.649> just<00:20:00.950> like<00:20:01.419> to 00:20:02.409 --> 00:20:02.419 align:start position:0% what we see as well it's just like to 00:20:02.419 --> 00:20:17.979 align:start position:0% what we see as well it's just like to share<00:20:03.169> experience<00:20:14.529> these<00:20:15.529> are<00:20:16.149> if<00:20:17.149> I<00:20:17.809> have 00:20:17.979 --> 00:20:17.989 align:start position:0% share experience these are if I have 00:20:17.989 --> 00:20:25.269 align:start position:0% share experience these are if I have been<00:20:20.619> I<00:20:21.619> have<00:20:22.070> been<00:20:22.309> one<00:20:22.700> receiving<00:20:23.419> the<00:20:24.279> you 00:20:25.269 --> 00:20:25.279 align:start position:0% been I have been one receiving the you 00:20:25.279 --> 00:20:30.669 align:start position:0% been I have been one receiving the you know<00:20:25.399> SEC<00:20:25.940> prosecution<00:20:26.840> or<00:20:27.019> is<00:20:27.470> it<00:20:29.529> are<00:20:30.529> you 00:20:30.669 --> 00:20:30.679 align:start position:0% know SEC prosecution or is it are you 00:20:30.679 --> 00:20:32.409 align:start position:0% know SEC prosecution or is it are you just<00:20:30.889> like<00:20:31.039> difference<00:20:31.970> of<00:20:32.059> finding<00:20:32.359> the 00:20:32.409 --> 00:20:32.419 align:start position:0% just like difference of finding the 00:20:32.419 --> 00:20:36.000 align:start position:0% just like difference of finding the number<00:20:32.659> of<00:20:32.779> people<00:20:32.929> they<00:20:33.229> can 00:20:36.000 --> 00:20:36.010 align:start position:0% 00:20:36.010 --> 00:20:39.280 align:start position:0% yeah<00:20:37.010> I<00:20:37.100> think<00:20:37.340> that<00:20:37.550> of<00:20:37.790> course<00:20:37.850> it's<00:20:38.690> it 00:20:39.280 --> 00:20:39.290 align:start position:0% yeah I think that of course it's it 00:20:39.290 --> 00:20:41.830 align:start position:0% yeah I think that of course it's it wouldn't<00:20:39.650> be<00:20:39.770> like<00:20:39.980> like<00:20:40.820> it's<00:20:41.000> super<00:20:41.420> soon<00:20:41.690> I 00:20:41.830 --> 00:20:41.840 align:start position:0% wouldn't be like like it's super soon I 00:20:41.840 --> 00:20:44.110 align:start position:0% wouldn't be like like it's super soon I mean<00:20:42.020> by<00:20:42.680> doing<00:20:42.740> this<00:20:43.280> you're<00:20:43.550> just<00:20:43.640> on<00:20:44.000> the 00:20:44.110 --> 00:20:44.120 align:start position:0% mean by doing this you're just on the 00:20:44.120 --> 00:20:46.150 align:start position:0% mean by doing this you're just on the line<00:20:44.300> with<00:20:44.480> the<00:20:44.570> fact<00:20:44.840> that<00:20:45.140> the<00:20:45.530> front<00:20:45.980> of 00:20:46.150 --> 00:20:46.160 align:start position:0% line with the fact that the front of 00:20:46.160 --> 00:20:47.950 align:start position:0% line with the fact that the front of layer<00:20:46.340> is<00:20:46.610> like<00:20:46.820> separate<00:20:47.240> from<00:20:47.480> the<00:20:47.600> protocol 00:20:47.950 --> 00:20:47.960 align:start position:0% layer is like separate from the protocol 00:20:47.960 --> 00:20:50.200 align:start position:0% layer is like separate from the protocol layer<00:20:48.140> right<00:20:48.440> so<00:20:49.100> you<00:20:49.250> can<00:20:49.430> you<00:20:49.610> can<00:20:49.760> you<00:20:50.030> can 00:20:50.200 --> 00:20:50.210 align:start position:0% layer right so you can you can you can 00:20:50.210 --> 00:20:52.240 align:start position:0% layer right so you can you can you can like<00:20:50.570> the<00:20:50.690> part<00:20:51.230> of<00:20:51.380> the<00:20:51.470> leader<00:20:51.680> strategy 00:20:52.240 --> 00:20:52.250 align:start position:0% like the part of the leader strategy 00:20:52.250 --> 00:20:53.920 align:start position:0% like the part of the leader strategy here<00:20:52.520> that<00:20:52.940> I'm<00:20:53.180> seeing<00:20:53.390> from<00:20:53.600> time<00:20:53.780> to<00:20:53.900> time 00:20:53.920 --> 00:20:53.930 align:start position:0% here that I'm seeing from time to time 00:20:53.930 --> 00:20:56.260 align:start position:0% here that I'm seeing from time to time is<00:20:54.290> to<00:20:54.440> say<00:20:54.680> okay<00:20:55.400> there<00:20:55.640> might<00:20:55.850> be<00:20:55.880> some 00:20:56.260 --> 00:20:56.270 align:start position:0% is to say okay there might be some 00:20:56.270 --> 00:20:58.330 align:start position:0% is to say okay there might be some regulated<00:20:57.050> activities<00:20:57.590> going<00:20:57.770> on<00:20:58.010> in<00:20:58.070> there 00:20:58.330 --> 00:20:58.340 align:start position:0% regulated activities going on in there 00:20:58.340 --> 00:21:00.160 align:start position:0% regulated activities going on in there but<00:20:58.670> they<00:20:59.210> are<00:20:59.300> not<00:20:59.480> happening<00:20:59.690> on<00:20:59.990> the<00:21:00.080> front 00:21:00.160 --> 00:21:00.170 align:start position:0% but they are not happening on the front 00:21:00.170 --> 00:21:00.790 align:start position:0% but they are not happening on the front of<00:21:00.380> liquor 00:21:00.790 --> 00:21:00.800 align:start position:0% of liquor 00:21:00.800 --> 00:21:02.050 align:start position:0% of liquor we<00:21:00.980> are<00:21:01.130> just<00:21:01.340> like<00:21:01.520> providing<00:21:01.850> this 00:21:02.050 --> 00:21:02.060 align:start position:0% we are just like providing this 00:21:02.060 --> 00:21:03.940 align:start position:0% we are just like providing this information<00:21:02.120> they're<00:21:02.750> happening<00:21:03.680> on<00:21:03.860> the 00:21:03.940 --> 00:21:03.950 align:start position:0% information they're happening on the 00:21:03.950 --> 00:21:06.370 align:start position:0% information they're happening on the protocol<00:21:04.340> layer<00:21:04.550> try<00:21:05.090> regulates<00:21:05.570> profits<00:21:06.110> not 00:21:06.370 --> 00:21:06.380 align:start position:0% protocol layer try regulates profits not 00:21:06.380 --> 00:21:08.530 align:start position:0% protocol layer try regulates profits not the<00:21:06.530> front<00:21:06.770> evaporators<00:21:07.310> this<00:21:07.940> is<00:21:08.090> a<00:21:08.120> decor<00:21:08.510> of 00:21:08.530 --> 00:21:08.540 align:start position:0% the front evaporators this is a decor of 00:21:08.540 --> 00:21:10.930 align:start position:0% the front evaporators this is a decor of this<00:21:08.780> strategy<00:21:09.230> does<00:21:09.860> anyone<00:21:10.190> want<00:21:10.490> to<00:21:10.610> like 00:21:10.930 --> 00:21:10.940 align:start position:0% this strategy does anyone want to like 00:21:10.940 --> 00:21:12.490 align:start position:0% this strategy does anyone want to like have<00:21:11.180> an<00:21:11.300> experience<00:21:11.870> with<00:21:12.080> this<00:21:12.260> like 00:21:12.490 --> 00:21:12.500 align:start position:0% have an experience with this like 00:21:12.500 --> 00:21:13.840 align:start position:0% have an experience with this like building<00:21:12.830> a<00:21:12.920> decentralized<00:21:13.370> product<00:21:13.730> and 00:21:13.840 --> 00:21:13.850 align:start position:0% building a decentralized product and 00:21:13.850 --> 00:21:16.450 align:start position:0% building a decentralized product and trying<00:21:14.120> to<00:21:14.390> actually<00:21:14.540> bootstrap<00:21:15.320> from<00:21:16.280> to 00:21:16.450 --> 00:21:16.460 align:start position:0% trying to actually bootstrap from to 00:21:16.460 --> 00:21:20.950 align:start position:0% trying to actually bootstrap from to support<00:21:18.970> because<00:21:19.970> first<00:21:20.210> some<00:21:20.420> reason<00:21:20.720> it's 00:21:20.950 --> 00:21:20.960 align:start position:0% support because first some reason it's 00:21:20.960 --> 00:21:22.870 align:start position:0% support because first some reason it's not<00:21:21.050> happening<00:21:21.650> very<00:21:21.800> often<00:21:22.010> as<00:21:22.340> well<00:21:22.520> right 00:21:22.870 --> 00:21:22.880 align:start position:0% not happening very often as well right 00:21:22.880 --> 00:21:25.510 align:start position:0% not happening very often as well right like<00:21:23.240> I<00:21:23.480> already<00:21:24.110> I<00:21:24.500> already<00:21:24.620> said<00:21:25.070> at<00:21:25.400> the 00:21:25.510 --> 00:21:25.520 align:start position:0% like I already I already said at the 00:21:25.520 --> 00:21:26.920 align:start position:0% like I already I already said at the beginning<00:21:25.820> that's<00:21:25.970> my<00:21:26.120> feeling<00:21:26.450> is<00:21:26.570> that<00:21:26.600> it's 00:21:26.920 --> 00:21:26.930 align:start position:0% beginning that's my feeling is that it's 00:21:26.930 --> 00:21:28.030 align:start position:0% beginning that's my feeling is that it's just<00:21:27.080> they've<00:21:27.500> come<00:21:27.680> from<00:21:27.770> the<00:21:27.890> business 00:21:28.030 --> 00:21:28.040 align:start position:0% just they've come from the business 00:21:28.040 --> 00:21:29.890 align:start position:0% just they've come from the business perspective<00:21:28.310> right<00:21:28.850> you<00:21:29.000> encourage<00:21:29.840> people 00:21:29.890 --> 00:21:29.900 align:start position:0% perspective right you encourage people 00:21:29.900 --> 00:21:33.310 align:start position:0% perspective right you encourage people to<00:21:30.290> do<00:21:31.220> this<00:21:31.370> but<00:21:32.000> there's<00:21:32.630> some<00:21:32.780> incident 00:21:33.310 --> 00:21:33.320 align:start position:0% to do this but there's some incident 00:21:33.320 --> 00:21:51.650 align:start position:0% to do this but there's some incident yeah 00:21:51.650 --> 00:21:51.660 align:start position:0% 00:21:51.660 --> 00:21:56.700 align:start position:0% [Music] 00:21:56.700 --> 00:21:56.710 align:start position:0% 00:21:56.710 --> 00:21:59.940 align:start position:0% I<00:21:56.740> think<00:21:57.310> that<00:21:57.460> my<00:21:58.210> experience<00:21:58.410> is<00:21:59.410> a<00:21:59.440> similar 00:21:59.940 --> 00:21:59.950 align:start position:0% I think that my experience is a similar 00:21:59.950 --> 00:22:03.270 align:start position:0% I think that my experience is a similar I<00:22:00.190> think<00:22:00.640> that<00:22:01.180> multiple<00:22:02.170> intensity<00:22:02.830> is<00:22:03.010> not 00:22:03.270 --> 00:22:03.280 align:start position:0% I think that multiple intensity is not 00:22:03.280 --> 00:22:06.660 align:start position:0% I think that multiple intensity is not good<00:22:03.610> you<00:22:04.200> particulated<00:22:05.200> and<00:22:05.500> say<00:22:05.710> listen 00:22:06.660 --> 00:22:06.670 align:start position:0% good you particulated and say listen 00:22:06.670 --> 00:22:08.310 align:start position:0% good you particulated and say listen look<00:22:06.880> there's<00:22:07.120> another<00:22:07.240> front-end<00:22:07.930> let<00:22:08.170> me 00:22:08.310 --> 00:22:08.320 align:start position:0% look there's another front-end let me 00:22:08.320 --> 00:22:10.560 align:start position:0% look there's another front-end let me off<00:22:08.500> that's<00:22:09.130> a<00:22:09.400> kind<00:22:09.610> of<00:22:09.700> argument<00:22:09.820> to<00:22:10.330> make<00:22:10.510> to 00:22:10.560 --> 00:22:10.570 align:start position:0% off that's a kind of argument to make to 00:22:10.570 --> 00:22:13.140 align:start position:0% off that's a kind of argument to make to a<00:22:10.780> charger<00:22:11.410> extremely<00:22:12.040> legal<00:22:12.460> arguments<00:22:13.000> a 00:22:13.140 --> 00:22:13.150 align:start position:0% a charger extremely legal arguments a 00:22:13.150 --> 00:22:15.240 align:start position:0% a charger extremely legal arguments a purpose<00:22:13.810> of<00:22:14.020> this<00:22:14.230> and<00:22:14.620> it's<00:22:14.830> a<00:22:14.890> little<00:22:15.040> more 00:22:15.240 --> 00:22:15.250 align:start position:0% purpose of this and it's a little more 00:22:15.250 --> 00:22:16.560 align:start position:0% purpose of this and it's a little more popular<00:22:15.460> than<00:22:15.790> that<00:22:15.910> because<00:22:16.210> of<00:22:16.480> this 00:22:16.560 --> 00:22:16.570 align:start position:0% popular than that because of this 00:22:16.570 --> 00:22:21.810 align:start position:0% popular than that because of this technicality<00:22:17.320> let<00:22:17.500> be<00:22:17.650> on<00:22:17.770> the<00:22:19.800> computer 00:22:21.810 --> 00:22:21.820 align:start position:0% technicality let be on the computer 00:22:21.820 --> 00:22:23.730 align:start position:0% technicality let be on the computer yeah<00:22:22.090> this<00:22:22.420> room<00:22:22.600> I<00:22:22.750> think<00:22:22.960> that<00:22:23.080> we<00:22:23.290> we<00:22:23.590> need 00:22:23.730 --> 00:22:23.740 align:start position:0% yeah this room I think that we we need 00:22:23.740 --> 00:22:25.950 align:start position:0% yeah this room I think that we we need to<00:22:23.770> think<00:22:24.100> about<00:22:24.280> this<00:22:24.610> together<00:22:25.450> with<00:22:25.720> this 00:22:25.950 --> 00:22:25.960 align:start position:0% to think about this together with this 00:22:25.960 --> 00:22:28.230 align:start position:0% to think about this together with this so<00:22:26.230> she<00:22:26.290> pulled<00:22:26.830> a<00:22:26.950> double<00:22:27.100> boiler<00:22:27.580> from<00:22:27.730> right 00:22:28.230 --> 00:22:28.240 align:start position:0% so she pulled a double boiler from right 00:22:28.240 --> 00:22:45.470 align:start position:0% so she pulled a double boiler from right this<00:22:28.420> is<00:22:28.540> like<00:22:28.830> like<00:22:29.830> the<00:22:30.010> first<00:22:30.280> step<00:22:43.890> it's 00:22:45.470 --> 00:22:45.480 align:start position:0% this is like like the first step it's 00:22:45.480 --> 00:22:51.430 align:start position:0% this is like like the first step it's just<00:22:48.060> actually<00:22:49.060> just<00:22:49.270> so<00:22:50.110> much 00:22:51.430 --> 00:22:51.440 align:start position:0% just actually just so much 00:22:51.440 --> 00:22:54.580 align:start position:0% just actually just so much like<00:22:51.770> this<00:22:51.980> select<00:22:52.820> by<00:22:53.270> incentives<00:22:53.840> it<00:22:54.200> can 00:22:54.580 --> 00:22:54.590 align:start position:0% like this select by incentives it can 00:22:54.590 --> 00:23:03.590 align:start position:0% like this select by incentives it can have<00:22:54.800> a<00:22:55.040> very<00:22:55.100> strong 00:23:03.590 --> 00:23:03.600 align:start position:0% 00:23:03.600 --> 00:23:06.210 align:start position:0% also<00:23:04.600> if<00:23:04.870> you<00:23:05.230> do<00:23:05.410> not<00:23:05.560> have<00:23:05.770> some<00:23:05.980> sort<00:23:06.010> of 00:23:06.210 --> 00:23:06.220 align:start position:0% also if you do not have some sort of 00:23:06.220 --> 00:23:07.980 align:start position:0% also if you do not have some sort of really<00:23:06.460> consistent<00:23:07.120> and<00:23:07.450> sustainable 00:23:07.980 --> 00:23:07.990 align:start position:0% really consistent and sustainable 00:23:07.990 --> 00:23:09.480 align:start position:0% really consistent and sustainable business<00:23:08.050> model<00:23:08.680> than<00:23:08.830> these<00:23:08.980> projects 00:23:09.480 --> 00:23:09.490 align:start position:0% business model than these projects 00:23:09.490 --> 00:23:11.250 align:start position:0% business model than these projects become<00:23:09.790> harder<00:23:10.240> and<00:23:10.330> harder<00:23:10.600> to<00:23:10.720> be<00:23:10.960> able<00:23:11.110> to 00:23:11.250 --> 00:23:11.260 align:start position:0% become harder and harder to be able to 00:23:11.260 --> 00:23:13.320 align:start position:0% become harder and harder to be able to believe<00:23:11.740> we're<00:23:12.430> just<00:23:12.460> saying<00:23:12.760> that<00:23:12.850> expand 00:23:13.320 --> 00:23:13.330 align:start position:0% believe we're just saying that expand 00:23:13.330 --> 00:23:15.300 align:start position:0% believe we're just saying that expand themselves<00:23:13.680> especially<00:23:14.680> a<00:23:14.710> little<00:23:15.040> legal 00:23:15.300 --> 00:23:15.310 align:start position:0% themselves especially a little legal 00:23:15.310 --> 00:23:17.190 align:start position:0% themselves especially a little legal risk<00:23:15.490> or<00:23:15.820> associated<00:23:16.210> with<00:23:16.450> mostly<00:23:17.020> my 00:23:17.190 --> 00:23:17.200 align:start position:0% risk or associated with mostly my 00:23:17.200 --> 00:23:19.500 align:start position:0% risk or associated with mostly my projects<00:23:17.800> that<00:23:17.950> it's<00:23:18.490> very<00:23:18.700> expensive<00:23:18.910> very 00:23:19.500 --> 00:23:19.510 align:start position:0% projects that it's very expensive very 00:23:19.510 --> 00:23:22.080 align:start position:0% projects that it's very expensive very quickly<00:23:19.720> yeah<00:23:20.590> yes<00:23:21.220> of<00:23:21.370> the<00:23:21.490> if<00:23:21.760> you<00:23:21.880> have<00:23:21.970> done 00:23:22.080 --> 00:23:22.090 align:start position:0% quickly yeah yes of the if you have done 00:23:22.090 --> 00:23:25.920 align:start position:0% quickly yeah yes of the if you have done that<00:23:22.210> the<00:23:22.390> runes<00:23:23.130> makers<00:23:24.130> to<00:23:24.310> speech<00:23:24.790> we<00:23:25.780> would 00:23:25.920 --> 00:23:25.930 align:start position:0% that the runes makers to speech we would 00:23:25.930 --> 00:23:30.510 align:start position:0% that the runes makers to speech we would see<00:23:26.110> like<00:23:26.320> but<00:23:26.770> like<00:23:27.480> our<00:23:28.890> strategy<00:23:29.890> I<00:23:30.130> mean 00:23:30.510 --> 00:23:30.520 align:start position:0% see like but like our strategy I mean 00:23:30.520 --> 00:23:32.760 align:start position:0% see like but like our strategy I mean like<00:23:30.970> approach<00:23:31.330> over<00:23:31.720> ideal<00:23:32.110> approach<00:23:32.290> which 00:23:32.760 --> 00:23:32.770 align:start position:0% like approach over ideal approach which 00:23:32.770 --> 00:23:35.730 align:start position:0% like approach over ideal approach which is<00:23:32.860> regulate<00:23:33.340> on<00:23:33.490> edges<00:23:33.970> right<00:23:34.420> and<00:23:34.750> like<00:23:35.590> in 00:23:35.730 --> 00:23:35.740 align:start position:0% is regulate on edges right and like in 00:23:35.740 --> 00:23:36.900 align:start position:0% is regulate on edges right and like in the<00:23:35.770> same<00:23:35.980> way<00:23:36.010> as<00:23:36.280> a<00:23:36.310> bit<00:23:36.550> different<00:23:36.850> no 00:23:36.900 --> 00:23:36.910 align:start position:0% the same way as a bit different no 00:23:36.910 --> 00:23:38.790 align:start position:0% the same way as a bit different no returns<00:23:37.300> but<00:23:37.720> no<00:23:37.930> one<00:23:38.080> is<00:23:38.170> trying<00:23:38.410> to<00:23:38.620> regulate 00:23:38.790 --> 00:23:38.800 align:start position:0% returns but no one is trying to regulate 00:23:38.800 --> 00:23:40.500 align:start position:0% returns but no one is trying to regulate what's<00:23:39.130> happening<00:23:39.490> in<00:23:39.580> this<00:23:39.700> networks<00:23:40.150> yet 00:23:40.500 --> 00:23:40.510 align:start position:0% what's happening in this networks yet 00:23:40.510 --> 00:23:42.360 align:start position:0% what's happening in this networks yet there<00:23:40.780> is<00:23:40.900> there<00:23:41.350> are<00:23:41.380> several<00:23:41.680> regulation<00:23:42.220> on 00:23:42.360 --> 00:23:42.370 align:start position:0% there is there are several regulation on 00:23:42.370 --> 00:23:44.910 align:start position:0% there is there are several regulation on edges<00:23:42.940> such<00:23:43.300> as<00:23:43.420> the<00:23:43.540> exchanges<00:23:44.020> right<00:23:44.290> this 00:23:44.910 --> 00:23:44.920 align:start position:0% edges such as the exchanges right this 00:23:44.920 --> 00:23:47.160 align:start position:0% edges such as the exchanges right this is<00:23:45.070> like<00:23:45.460> a<00:23:45.520> certain<00:23:45.910> strategy<00:23:46.120> that<00:23:46.570> that 00:23:47.160 --> 00:23:47.170 align:start position:0% is like a certain strategy that that 00:23:47.170 --> 00:23:48.420 align:start position:0% is like a certain strategy that that many<00:23:47.380> people<00:23:47.470> are<00:23:47.680> trying<00:23:47.950> to<00:23:48.010> convince 00:23:48.420 --> 00:23:48.430 align:start position:0% many people are trying to convince 00:23:48.430 --> 00:23:51.060 align:start position:0% many people are trying to convince regulators<00:23:49.030> to<00:23:49.300> so<00:23:49.930> that<00:23:50.170> you<00:23:50.500> know<00:23:50.620> they<00:23:50.860> they 00:23:51.060 --> 00:23:51.070 align:start position:0% regulators to so that you know they they 00:23:51.070 --> 00:23:53.250 align:start position:0% regulators to so that you know they they like<00:23:51.460> live<00:23:51.880> it<00:23:52.030> like<00:23:52.630> believed<00:23:52.960> is<00:23:53.110> the 00:23:53.250 --> 00:23:53.260 align:start position:0% like live it like believed is the 00:23:53.260 --> 00:23:55.290 align:start position:0% like live it like believed is the centralized<00:23:53.770> essential<00:23:54.370> I<00:23:54.430> start<00:23:54.820> like<00:23:55.180> the 00:23:55.290 --> 00:23:55.300 align:start position:0% centralized essential I start like the 00:23:55.300 --> 00:23:57.330 align:start position:0% centralized essential I start like the loan<00:23:55.570> and<00:23:55.780> try<00:23:56.020> to<00:23:56.080> regulate<00:23:56.620> those<00:23:56.770> bowls 00:23:57.330 --> 00:23:57.340 align:start position:0% loan and try to regulate those bowls 00:23:57.340 --> 00:24:00.900 align:start position:0% loan and try to regulate those bowls around<00:23:58.000> but<00:23:58.630> of<00:23:58.750> course<00:23:58.990> you<00:23:59.410> know<00:23:59.560> like<00:23:59.980> it's 00:24:00.900 --> 00:24:00.910 align:start position:0% around but of course you know like it's 00:24:00.910 --> 00:24:03.180 align:start position:0% around but of course you know like it's for<00:24:01.330> them<00:24:01.540> it's<00:24:01.780> this<00:24:02.050> difficult<00:24:02.590> access<00:24:03.010> I 00:24:03.180 --> 00:24:03.190 align:start position:0% for them it's this difficult access I 00:24:03.190 --> 00:24:05.070 align:start position:0% for them it's this difficult access I think<00:24:03.370> like<00:24:03.490> this<00:24:03.640> right<00:24:03.970> to<00:24:04.600> a<00:24:04.630> low<00:24:04.870> that 00:24:05.070 --> 00:24:05.080 align:start position:0% think like this right to a low that 00:24:05.080 --> 00:24:07.620 align:start position:0% think like this right to a low that certain<00:24:05.560> that<00:24:05.680> you<00:24:06.220> know<00:24:06.370> regulate<00:24:07.090> activity 00:24:07.620 --> 00:24:07.630 align:start position:0% certain that you know regulate activity 00:24:07.630 --> 00:24:10.140 align:start position:0% certain that you know regulate activity is<00:24:07.870> just<00:24:08.140> being<00:24:08.410> you<00:24:08.800> know<00:24:08.860> transfer<00:24:09.580> to<00:24:09.910> some 00:24:10.140 --> 00:24:10.150 align:start position:0% is just being you know transfer to some 00:24:10.150 --> 00:24:11.820 align:start position:0% is just being you know transfer to some protocol<00:24:10.510> value<00:24:10.780> and<00:24:11.110> that's<00:24:11.530> why<00:24:11.680> I<00:24:11.710> think 00:24:11.820 --> 00:24:11.830 align:start position:0% protocol value and that's why I think 00:24:11.830 --> 00:24:16.680 align:start position:0% protocol value and that's why I think that<00:24:12.420> it's<00:24:13.420> not<00:24:14.850> it's<00:24:15.850> not<00:24:16.030> here<00:24:16.270> on<00:24:16.420> the<00:24:16.510> list 00:24:16.680 --> 00:24:16.690 align:start position:0% that it's not it's not here on the list 00:24:16.690 --> 00:24:19.020 align:start position:0% that it's not it's not here on the list but<00:24:17.020> I<00:24:17.200> could<00:24:17.500> see<00:24:17.680> them<00:24:17.920> on<00:24:18.250> the<00:24:18.580> phone<00:24:18.790> that 00:24:19.020 --> 00:24:19.030 align:start position:0% but I could see them on the phone that 00:24:19.030 --> 00:24:21.000 align:start position:0% but I could see them on the phone that there<00:24:19.210> was<00:24:19.360> a<00:24:19.390> few<00:24:19.840> change<00:24:20.110> and<00:24:20.560> change<00:24:20.860> the 00:24:21.000 --> 00:24:21.010 align:start position:0% there was a few change and change the 00:24:21.010 --> 00:24:23.280 align:start position:0% there was a few change and change the law<00:24:21.160> right<00:24:21.520> no<00:24:22.120> one<00:24:22.240> knows<00:24:22.420> like<00:24:22.660> how<00:24:22.870> exactly 00:24:23.280 --> 00:24:23.290 align:start position:0% law right no one knows like how exactly 00:24:23.290 --> 00:24:25.170 align:start position:0% law right no one knows like how exactly but<00:24:23.440> that's<00:24:23.800> that's<00:24:24.220> a<00:24:24.460> subject<00:24:24.790> option<00:24:24.940> as 00:24:25.170 --> 00:24:25.180 align:start position:0% but that's that's a subject option as 00:24:25.180 --> 00:24:28.050 align:start position:0% but that's that's a subject option as well<00:24:25.360> right<00:24:25.690> perhaps<00:24:26.050> this<00:24:26.620> law<00:24:26.920> doesn't<00:24:27.880> work 00:24:28.050 --> 00:24:28.060 align:start position:0% well right perhaps this law doesn't work 00:24:28.060 --> 00:24:30.900 align:start position:0% well right perhaps this law doesn't work anymore<00:24:28.540> in<00:24:28.870> this<00:24:29.020> context<00:24:29.470> right<00:24:29.770> we<00:24:30.460> receive 00:24:30.900 --> 00:24:30.910 align:start position:0% anymore in this context right we receive 00:24:30.910 --> 00:24:33.450 align:start position:0% anymore in this context right we receive like<00:24:31.420> like<00:24:32.200> this<00:24:32.410> is<00:24:32.560> like<00:24:32.710> for<00:24:32.950> us<00:24:33.070> it's<00:24:33.280> it's 00:24:33.450 --> 00:24:33.460 align:start position:0% like like this is like for us it's it's 00:24:33.460 --> 00:24:35.340 align:start position:0% like like this is like for us it's it's focus<00:24:34.090> how<00:24:34.360> can<00:24:34.570> you<00:24:34.690> regulate<00:24:34.990> the<00:24:35.290> speed 00:24:35.340 --> 00:24:35.350 align:start position:0% focus how can you regulate the speed 00:24:35.350 --> 00:24:37.560 align:start position:0% focus how can you regulate the speed right<00:24:35.920> you<00:24:36.370> can<00:24:36.520> regulate<00:24:36.790> this<00:24:37.000> bottom<00:24:37.450> you 00:24:37.560 --> 00:24:37.570 align:start position:0% right you can regulate this bottom you 00:24:37.570 --> 00:24:39.630 align:start position:0% right you can regulate this bottom you can<00:24:37.750> you<00:24:37.870> know<00:24:38.020> put<00:24:38.470> these<00:24:38.710> guys<00:24:38.950> to<00:24:39.130> jail<00:24:39.370> but 00:24:39.630 --> 00:24:39.640 align:start position:0% can you know put these guys to jail but 00:24:39.640 --> 00:24:41.610 align:start position:0% can you know put these guys to jail but this<00:24:39.790> protocol<00:24:40.240> still<00:24:40.600> exists<00:24:41.050> right<00:24:41.230> this<00:24:41.470> is 00:24:41.610 --> 00:24:41.620 align:start position:0% this protocol still exists right this is 00:24:41.620 --> 00:24:45.930 align:start position:0% this protocol still exists right this is like<00:24:41.830> Regan<00:24:42.250> will<00:24:42.370> establish<00:24:42.670> itself 00:24:45.930 --> 00:24:45.940 align:start position:0% 00:24:45.940 --> 00:24:50.220 align:start position:0% right<00:24:46.720> any<00:24:46.900> other<00:24:47.590> comments<00:24:48.070> on<00:24:49.080> some<00:24:50.080> other 00:24:50.220 --> 00:24:50.230 align:start position:0% right any other comments on some other 00:24:50.230 --> 00:24:53.100 align:start position:0% right any other comments on some other solutions<00:24:50.800> here<00:24:51.270> all<00:24:52.270> right<00:24:52.540> we<00:24:52.780> have<00:24:52.960> this 00:24:53.100 --> 00:24:53.110 align:start position:0% solutions here all right we have this 00:24:53.110 --> 00:25:04.530 align:start position:0% solutions here all right we have this one<00:24:53.350> right<00:24:53.620> in<00:24:53.800> place<00:24:54.040> and<00:25:03.150> yeah<00:25:04.150> it's 00:25:04.530 --> 00:25:04.540 align:start position:0% one right in place and yeah it's 00:25:04.540 --> 00:25:06.150 align:start position:0% one right in place and yeah it's interesting<00:25:04.780> one<00:25:05.260> in<00:25:05.500> practice 00:25:06.150 --> 00:25:06.160 align:start position:0% interesting one in practice 00:25:06.160 --> 00:25:07.910 align:start position:0% interesting one in practice is<00:25:06.250> there<00:25:06.490> anyone<00:25:06.790> from<00:25:07.000> floss<00:25:07.270> is<00:25:07.420> here 00:25:07.910 --> 00:25:07.920 align:start position:0% is there anyone from floss is here 00:25:07.920 --> 00:25:10.230 align:start position:0% is there anyone from floss is here because<00:25:08.920> in<00:25:09.340> practice<00:25:09.760> this<00:25:09.910> is<00:25:10.059> being 00:25:10.230 --> 00:25:10.240 align:start position:0% because in practice this is being 00:25:10.240 --> 00:25:11.669 align:start position:0% because in practice this is being followed<00:25:10.480> by<00:25:10.750> that<00:25:10.960> right<00:25:11.260> that<00:25:11.470> if<00:25:11.530> they 00:25:11.669 --> 00:25:11.679 align:start position:0% followed by that right that if they 00:25:11.679 --> 00:25:13.740 align:start position:0% followed by that right that if they establish<00:25:12.160> this<00:25:12.340> the<00:25:12.700> excel<00:25:13.120> which<00:25:13.390> is<00:25:13.510> which 00:25:13.740 --> 00:25:13.750 align:start position:0% establish this the excel which is which 00:25:13.750 --> 00:25:17.870 align:start position:0% establish this the excel which is which is<00:25:13.780> governing<00:25:14.290> Duchess<00:25:14.679> Duchess<00:25:16.380> thanks 00:25:17.870 --> 00:25:17.880 align:start position:0% is governing Duchess Duchess thanks 00:25:17.880 --> 00:25:20.549 align:start position:0% is governing Duchess Duchess thanks right<00:25:18.880> there<00:25:19.090> trying<00:25:19.300> business<00:25:20.110> without<00:25:20.290> the 00:25:20.549 --> 00:25:20.559 align:start position:0% right there trying business without the 00:25:20.559 --> 00:25:22.650 align:start position:0% right there trying business without the practice<00:25:21.220> of<00:25:21.429> it<00:25:21.580> so<00:25:21.880> that<00:25:22.030> these<00:25:22.210> dogs<00:25:22.450> are 00:25:22.650 --> 00:25:22.660 align:start position:0% practice of it so that these dogs are 00:25:22.660 --> 00:25:25.350 align:start position:0% practice of it so that these dogs are actually<00:25:23.020> controlling<00:25:23.740> controlling<00:25:24.670> the<00:25:25.150> Dex 00:25:25.350 --> 00:25:25.360 align:start position:0% actually controlling controlling the Dex 00:25:25.360 --> 00:25:29.070 align:start position:0% actually controlling controlling the Dex I<00:25:26.130> mean<00:25:27.130> interesting<00:25:27.400> but<00:25:28.000> like<00:25:28.420> outside<00:25:29.050> of 00:25:29.070 --> 00:25:29.080 align:start position:0% I mean interesting but like outside of 00:25:29.080 --> 00:25:30.360 align:start position:0% I mean interesting but like outside of this<00:25:29.320> example<00:25:29.620> I<00:25:29.710> haven't<00:25:30.010> seen<00:25:30.190> this<00:25:30.309> in 00:25:30.360 --> 00:25:30.370 align:start position:0% this example I haven't seen this in 00:25:30.370 --> 00:25:32.250 align:start position:0% this example I haven't seen this in practice<00:25:30.730> right<00:25:31.240> the<00:25:31.420> question<00:25:31.570> is<00:25:31.900> if<00:25:32.080> this 00:25:32.250 --> 00:25:32.260 align:start position:0% practice right the question is if this 00:25:32.260 --> 00:25:37.260 align:start position:0% practice right the question is if this if<00:25:32.980> you<00:25:33.220> if<00:25:33.490> you<00:25:33.580> have<00:25:35.730> like<00:25:36.730> the<00:25:36.850> question<00:25:37.150> is 00:25:37.260 --> 00:25:37.270 align:start position:0% if you if you have like the question is 00:25:37.270 --> 00:25:38.660 align:start position:0% if you if you have like the question is if<00:25:37.420> you<00:25:37.510> really<00:25:37.780> can<00:25:37.960> learn<00:25:38.080> that<00:25:38.260> like 00:25:38.660 --> 00:25:38.670 align:start position:0% if you really can learn that like 00:25:38.670 --> 00:25:41.760 align:start position:0% if you really can learn that like centralized<00:25:39.670> us<00:25:39.940> think<00:25:40.270> I'll<00:25:41.050> bite<00:25:41.500> down 00:25:41.760 --> 00:25:41.770 align:start position:0% centralized us think I'll bite down 00:25:41.770 --> 00:25:43.919 align:start position:0% centralized us think I'll bite down right<00:25:42.160> this<00:25:42.429> is<00:25:42.580> this<00:25:42.820> is<00:25:43.000> this<00:25:43.300> is<00:25:43.480> still<00:25:43.750> open 00:25:43.919 --> 00:25:43.929 align:start position:0% right this is this is this is still open 00:25:43.929 --> 00:25:46.919 align:start position:0% right this is this is this is still open right<00:25:44.550> there<00:25:45.550> is<00:25:46.030> a<00:25:46.059> second<00:25:46.510> reason<00:25:46.600> at<00:25:46.900> least 00:25:46.919 --> 00:25:46.929 align:start position:0% right there is a second reason at least 00:25:46.929 --> 00:25:48.600 align:start position:0% right there is a second reason at least some<00:25:47.290> jurisdiction<00:25:47.920> this<00:25:48.100> that<00:25:48.400> would<00:25:48.580> be 00:25:48.600 --> 00:25:48.610 align:start position:0% some jurisdiction this that would be 00:25:48.610 --> 00:25:51.900 align:start position:0% some jurisdiction this that would be just<00:25:49.450> classified<00:25:50.140> as<00:25:50.380> a<00:25:50.410> certain<00:25:50.950> partnership 00:25:51.900 --> 00:25:51.910 align:start position:0% just classified as a certain partnership 00:25:51.910 --> 00:25:54.180 align:start position:0% just classified as a certain partnership or<00:25:52.090> Association<00:25:52.690> or<00:25:52.809> something<00:25:53.230> right<00:25:53.440> which 00:25:54.180 --> 00:25:54.190 align:start position:0% or Association or something right which 00:25:54.190 --> 00:25:56.549 align:start position:0% or Association or something right which would<00:25:54.340> not<00:25:54.520> protect<00:25:55.000> its<00:25:55.240> its<00:25:55.510> its<00:25:55.840> members<00:25:56.290> or 00:25:56.549 --> 00:25:56.559 align:start position:0% would not protect its its its members or 00:25:56.559 --> 00:26:00.240 align:start position:0% would not protect its its its members or whether<00:25:57.240> building<00:25:58.530> right<00:25:59.530> but<00:25:59.679> let's<00:25:59.890> let's 00:26:00.240 --> 00:26:00.250 align:start position:0% whether building right but let's let's 00:26:00.250 --> 00:26:01.919 align:start position:0% whether building right but let's let's move<00:26:00.460> to<00:26:00.670> other<00:26:00.970> problems<00:26:01.240> because<00:26:01.570> there<00:26:01.870> are 00:26:01.919 --> 00:26:01.929 align:start position:0% move to other problems because there are 00:26:01.929 --> 00:26:05.730 align:start position:0% move to other problems because there are six<00:26:02.290> of<00:26:02.470> them<00:26:02.679> and<00:26:02.890> to<00:26:02.950> be<00:26:03.040> honest<00:26:04.650> so<00:26:05.650> the 00:26:05.730 --> 00:26:05.740 align:start position:0% six of them and to be honest so the 00:26:05.740 --> 00:26:08.640 align:start position:0% six of them and to be honest so the second<00:26:06.040> one<00:26:06.190> I<00:26:06.400> call<00:26:06.700> the<00:26:06.970> centralization<00:26:07.960> and 00:26:08.640 --> 00:26:08.650 align:start position:0% second one I call the centralization and 00:26:08.650 --> 00:26:11.190 align:start position:0% second one I call the centralization and the<00:26:08.770> problem<00:26:09.100> is<00:26:09.240> again<00:26:10.240> simple<00:26:10.690> I<00:26:10.929> think 00:26:11.190 --> 00:26:11.200 align:start position:0% the problem is again simple I think 00:26:11.200 --> 00:26:13.860 align:start position:0% the problem is again simple I think which<00:26:11.470> is<00:26:11.500> that<00:26:11.650> the<00:26:12.610> centralized<00:26:13.150> final 00:26:13.860 --> 00:26:13.870 align:start position:0% which is that the centralized final 00:26:13.870 --> 00:26:15.990 align:start position:0% which is that the centralized final financial<00:26:14.470> products<00:26:14.980> are<00:26:15.340> often<00:26:15.580> partial 00:26:15.990 --> 00:26:16.000 align:start position:0% financial products are often partial 00:26:16.000 --> 00:26:18.060 align:start position:0% financial products are often partial partial<00:26:16.179> centralized<00:26:16.900> and<00:26:17.110> this<00:26:17.530> I<00:26:17.740> think<00:26:17.770> is 00:26:18.060 --> 00:26:18.070 align:start position:0% partial centralized and this I think is 00:26:18.070 --> 00:26:20.340 align:start position:0% partial centralized and this I think is is<00:26:18.340> quite<00:26:18.520> obvious<00:26:18.880> due<00:26:19.120> to<00:26:19.150> many<00:26:19.960> people<00:26:20.260> in 00:26:20.340 --> 00:26:20.350 align:start position:0% is quite obvious due to many people in 00:26:20.350 --> 00:26:22.919 align:start position:0% is quite obvious due to many people in this<00:26:20.440> phase<00:26:20.679> they're<00:26:20.980> just<00:26:21.280> examples<00:26:21.670> of<00:26:22.240> of 00:26:22.919 --> 00:26:22.929 align:start position:0% this phase they're just examples of of 00:26:22.929 --> 00:26:24.419 align:start position:0% this phase they're just examples of of these<00:26:23.170> sensors<00:26:23.530> and<00:26:23.679> transitions<00:26:24.130> thoughts 00:26:24.419 --> 00:26:24.429 align:start position:0% these sensors and transitions thoughts 00:26:24.429 --> 00:26:26.280 align:start position:0% these sensors and transitions thoughts there<00:26:25.030> is<00:26:25.150> also<00:26:25.360> sometimes<00:26:25.750> lack<00:26:26.140> of 00:26:26.280 --> 00:26:26.290 align:start position:0% there is also sometimes lack of 00:26:26.290 --> 00:26:28.020 align:start position:0% there is also sometimes lack of transparency<00:26:26.530> right<00:26:27.190> so<00:26:27.400> that<00:26:27.550> people<00:26:27.880> are 00:26:28.020 --> 00:26:28.030 align:start position:0% transparency right so that people are 00:26:28.030 --> 00:26:30.810 align:start position:0% transparency right so that people are actually<00:26:28.150> not<00:26:28.390> aware<00:26:29.010> or<00:26:30.010> they<00:26:30.280> don't<00:26:30.580> know 00:26:30.810 --> 00:26:30.820 align:start position:0% actually not aware or they don't know 00:26:30.820 --> 00:26:33.390 align:start position:0% actually not aware or they don't know it's<00:26:31.360> centralized<00:26:32.320> it<00:26:32.530> was<00:26:32.710> decentralized 00:26:33.390 --> 00:26:33.400 align:start position:0% it's centralized it was decentralized 00:26:33.400 --> 00:26:34.950 align:start position:0% it's centralized it was decentralized right<00:26:33.670> there<00:26:33.850> is<00:26:33.970> like<00:26:34.179> certain<00:26:34.510> marketing 00:26:34.950 --> 00:26:34.960 align:start position:0% right there is like certain marketing 00:26:34.960 --> 00:26:37.110 align:start position:0% right there is like certain marketing about<00:26:35.830> about<00:26:36.130> the<00:26:36.309> centralized<00:26:36.730> financial 00:26:37.110 --> 00:26:37.120 align:start position:0% about about the centralized financial 00:26:37.120 --> 00:26:40.940 align:start position:0% about about the centralized financial services<00:26:37.570> yet<00:26:38.170> when<00:26:38.410> people<00:26:38.559> look<00:26:38.860> closer 00:26:40.940 --> 00:26:40.950 align:start position:0% services yet when people look closer 00:26:40.950 --> 00:26:43.610 align:start position:0% services yet when people look closer it's<00:26:41.789> just<00:26:42.000> clear<00:26:42.269> that<00:26:42.450> just<00:26:42.840> some<00:26:43.169> parts<00:26:43.500> of 00:26:43.610 --> 00:26:43.620 align:start position:0% it's just clear that just some parts of 00:26:43.620 --> 00:26:45.259 align:start position:0% it's just clear that just some parts of decentralized<00:26:44.309> or<00:26:44.580> there<00:26:44.940> are<00:26:45.059> some 00:26:45.259 --> 00:26:45.269 align:start position:0% decentralized or there are some 00:26:45.269 --> 00:26:47.779 align:start position:0% decentralized or there are some centralized<00:26:45.990> elements<00:26:46.590> and<00:26:46.769> I<00:26:47.130> think<00:26:47.340> Texas 00:26:47.779 --> 00:26:47.789 align:start position:0% centralized elements and I think Texas 00:26:47.789 --> 00:26:50.389 align:start position:0% centralized elements and I think Texas is<00:26:48.090> the<00:26:48.360> best<00:26:48.539> example<00:26:49.169> of<00:26:49.230> this<00:26:49.409> right<00:26:50.100> so 00:26:50.389 --> 00:26:50.399 align:start position:0% is the best example of this right so 00:26:50.399 --> 00:26:52.879 align:start position:0% is the best example of this right so that<00:26:50.549> people<00:26:50.909> for<00:26:51.450> for<00:26:51.870> business<00:26:52.200> reasons<00:26:52.409> are 00:26:52.879 --> 00:26:52.889 align:start position:0% that people for for business reasons are 00:26:52.889 --> 00:26:54.830 align:start position:0% that people for for business reasons are very<00:26:53.250> like<00:26:53.700> you<00:26:53.940> know<00:26:53.970> incorporated<00:26:54.630> some 00:26:54.830 --> 00:26:54.840 align:start position:0% very like you know incorporated some 00:26:54.840 --> 00:26:56.840 align:start position:0% very like you know incorporated some centralization<00:26:55.830> in<00:26:55.950> their<00:26:56.100> services<00:26:56.610> so<00:26:56.669> that 00:26:56.840 --> 00:26:56.850 align:start position:0% centralization in their services so that 00:26:56.850 --> 00:27:01.220 align:start position:0% centralization in their services so that it's<00:26:57.179> more<00:26:57.450> like<00:26:57.809> it's<00:26:58.139> faster<00:26:58.559> it's<00:26:59.279> more<00:27:00.230> its 00:27:01.220 --> 00:27:01.230 align:start position:0% it's more like it's faster it's more its 00:27:01.230 --> 00:27:06.409 align:start position:0% it's more like it's faster it's more its best<00:27:01.500> better<00:27:02.070> for<00:27:02.399> users<00:27:02.929> because<00:27:05.419> it 00:27:06.409 --> 00:27:06.419 align:start position:0% best better for users because it 00:27:06.419 --> 00:27:08.180 align:start position:0% best better for users because it provides<00:27:06.809> better<00:27:06.990> the<00:27:07.289> vendor<00:27:07.559> service<00:27:07.919> and 00:27:08.180 --> 00:27:08.190 align:start position:0% provides better the vendor service and 00:27:08.190 --> 00:27:11.180 align:start position:0% provides better the vendor service and this<00:27:09.029> why<00:27:09.659> is<00:27:09.720> it<00:27:09.870> important<00:27:10.380> this<00:27:10.740> undermines 00:27:11.180 --> 00:27:11.190 align:start position:0% this why is it important this undermines 00:27:11.190 --> 00:27:13.700 align:start position:0% this why is it important this undermines the<00:27:11.909> core<00:27:12.210> legal<00:27:12.600> claim<00:27:12.929> of<00:27:13.139> many<00:27:13.350> different 00:27:13.700 --> 00:27:13.710 align:start position:0% the core legal claim of many different 00:27:13.710 --> 00:27:15.440 align:start position:0% the core legal claim of many different projects<00:27:14.070> right<00:27:14.309> because<00:27:14.580> many<00:27:14.909> projects 00:27:15.440 --> 00:27:15.450 align:start position:0% projects right because many projects 00:27:15.450 --> 00:27:18.560 align:start position:0% projects right because many projects like<00:27:15.740> like<00:27:16.760> talking<00:27:17.760> about<00:27:18.059> like<00:27:18.240> totally 00:27:18.560 --> 00:27:18.570 align:start position:0% like like talking about like totally 00:27:18.570 --> 00:27:21.529 align:start position:0% like like talking about like totally high-level<00:27:19.350> legal<00:27:20.159> strategy<00:27:20.639> they're<00:27:21.149> saying 00:27:21.529 --> 00:27:21.539 align:start position:0% high-level legal strategy they're saying 00:27:21.539 --> 00:27:23.600 align:start position:0% high-level legal strategy they're saying this<00:27:21.809> is<00:27:21.960> complete<00:27:22.320> decentralized<00:27:22.919> right<00:27:23.279> I'm 00:27:23.600 --> 00:27:23.610 align:start position:0% this is complete decentralized right I'm 00:27:23.610 --> 00:27:25.909 align:start position:0% this is complete decentralized right I'm not<00:27:23.820> controlling<00:27:24.240> it<00:27:24.570> so<00:27:24.870> how<00:27:25.200> how<00:27:25.620> would<00:27:25.679> I<00:27:25.889> be 00:27:25.909 --> 00:27:25.919 align:start position:0% not controlling it so how how would I be 00:27:25.919 --> 00:27:29.600 align:start position:0% not controlling it so how how would I be like<00:27:26.549> mine<00:27:27.000> would<00:27:27.179> I<00:27:27.240> be<00:27:27.450> responsible<00:27:28.610> for 00:27:29.600 --> 00:27:29.610 align:start position:0% like mine would I be responsible for 00:27:29.610 --> 00:27:32.600 align:start position:0% like mine would I be responsible for this<00:27:29.730> if<00:27:30.269> I'm<00:27:30.450> not<00:27:30.600> running<00:27:31.080> this<00:27:31.559> yet<00:27:32.460> it 00:27:32.600 --> 00:27:32.610 align:start position:0% this if I'm not running this yet it 00:27:32.610 --> 00:27:34.759 align:start position:0% this if I'm not running this yet it seems<00:27:32.850> that<00:27:33.029> there<00:27:33.269> are<00:27:33.510> sometimes<00:27:34.139> there<00:27:34.470> are 00:27:34.759 --> 00:27:34.769 align:start position:0% seems that there are sometimes there are 00:27:34.769 --> 00:27:37.159 align:start position:0% seems that there are sometimes there are some<00:27:35.039> operators<00:27:35.730> or<00:27:36.179> people<00:27:36.480> with<00:27:36.659> keys<00:27:36.929> that 00:27:37.159 --> 00:27:37.169 align:start position:0% some operators or people with keys that 00:27:37.169 --> 00:27:41.350 align:start position:0% some operators or people with keys that do<00:27:37.559> something<00:27:38.010> and<00:27:38.309> again<00:27:39.299> example<00:27:39.990> a 00:27:41.350 --> 00:27:41.360 align:start position:0% do something and again example a 00:27:41.360 --> 00:27:44.029 align:start position:0% do something and again example a compound<00:27:42.360> was<00:27:42.630> last<00:27:43.200> known<00:27:43.409> compound<00:27:43.889> just 00:27:44.029 --> 00:27:44.039 align:start position:0% compound was last known compound just 00:27:44.039 --> 00:27:47.019 align:start position:0% compound was last known compound just like<00:27:44.309> a<00:27:44.750> spotlight<00:27:45.750> on<00:27:46.139> this<00:27:46.230> project 00:27:47.019 --> 00:27:47.029 align:start position:0% like a spotlight on this project 00:27:47.029 --> 00:27:49.070 align:start position:0% like a spotlight on this project essentially<00:27:48.029> centralize<00:27:48.630> the<00:27:48.750> features 00:27:49.070 --> 00:27:49.080 align:start position:0% essentially centralize the features 00:27:49.080 --> 00:27:52.970 align:start position:0% essentially centralize the features which<00:27:49.919> is<00:27:50.039> not<00:27:50.220> necessarily<00:27:50.639> like<00:27:51.980> accusation 00:27:52.970 --> 00:27:52.980 align:start position:0% which is not necessarily like accusation 00:27:52.980 --> 00:27:55.190 align:start position:0% which is not necessarily like accusation or<00:27:53.070> anything<00:27:53.610> against<00:27:54.419> compound<00:27:54.899> because 00:27:55.190 --> 00:27:55.200 align:start position:0% or anything against compound because 00:27:55.200 --> 00:27:56.990 align:start position:0% or anything against compound because they<00:27:55.380> are<00:27:55.470> at<00:27:56.429> least<00:27:56.669> to<00:27:56.850> my<00:27:56.970> knowledge 00:27:56.990 --> 00:27:57.000 align:start position:0% they are at least to my knowledge 00:27:57.000 --> 00:27:59.240 align:start position:0% they are at least to my knowledge they're<00:27:57.720> writing<00:27:58.080> this<00:27:58.200> quite<00:27:58.470> openly<00:27:58.919> the 00:27:59.240 --> 00:27:59.250 align:start position:0% they're writing this quite openly the 00:27:59.250 --> 00:28:02.180 align:start position:0% they're writing this quite openly the white<00:27:59.490> paper<00:27:59.760> that<00:27:59.909> it<00:28:00.740> tests<00:28:01.740> like<00:28:02.010> this 00:28:02.180 --> 00:28:02.190 align:start position:0% white paper that it tests like this 00:28:02.190 --> 00:28:04.549 align:start position:0% white paper that it tests like this centralized<00:28:02.789> functionalities<00:28:03.630> with<00:28:04.200> like 00:28:04.549 --> 00:28:04.559 align:start position:0% centralized functionalities with like 00:28:04.559 --> 00:28:07.460 align:start position:0% centralized functionalities with like this<00:28:04.769> ultimate<00:28:05.250> goal<00:28:05.549> towards<00:28:06.450> towards<00:28:06.929> but 00:28:07.460 --> 00:28:07.470 align:start position:0% this ultimate goal towards towards but 00:28:07.470 --> 00:28:09.080 align:start position:0% this ultimate goal towards towards but towards<00:28:07.799> the<00:28:07.980> centralization 00:28:09.080 --> 00:28:09.090 align:start position:0% towards the centralization 00:28:09.090 --> 00:28:11.000 align:start position:0% towards the centralization right<00:28:09.299> but<00:28:09.840> that's<00:28:09.960> the<00:28:10.110> reality<00:28:10.380> of<00:28:10.710> many 00:28:11.000 --> 00:28:11.010 align:start position:0% right but that's the reality of many 00:28:11.010 --> 00:28:13.610 align:start position:0% right but that's the reality of many approaches<00:28:11.730> right<00:28:11.909> that<00:28:12.149> they<00:28:12.450> do<00:28:13.230> to<00:28:13.409> like 00:28:13.610 --> 00:28:13.620 align:start position:0% approaches right that they do to like 00:28:13.620 --> 00:28:16.129 align:start position:0% approaches right that they do to like many<00:28:13.830> reasons<00:28:14.250> also<00:28:14.460> like<00:28:15.360> lack<00:28:15.659> of<00:28:15.870> you<00:28:16.110> know 00:28:16.129 --> 00:28:16.139 align:start position:0% many reasons also like lack of you know 00:28:16.139 --> 00:28:19.039 align:start position:0% many reasons also like lack of you know like<00:28:16.559> under<00:28:16.980> under<00:28:17.549> like<00:28:17.880> not<00:28:18.090> sufficient 00:28:19.039 --> 00:28:19.049 align:start position:0% like under under like not sufficient 00:28:19.049 --> 00:28:20.360 align:start position:0% like under under like not sufficient development<00:28:19.500> of<00:28:19.590> technology<00:28:20.070> there<00:28:20.279> are 00:28:20.360 --> 00:28:20.370 align:start position:0% development of technology there are 00:28:20.370 --> 00:28:22.070 align:start position:0% development of technology there are they're<00:28:20.580> demanding<00:28:20.909> decentralized<00:28:21.659> features 00:28:22.070 --> 00:28:22.080 align:start position:0% they're demanding decentralized features 00:28:22.080 --> 00:28:24.620 align:start position:0% they're demanding decentralized features and<00:28:22.470> but<00:28:23.100> still<00:28:23.220> did<00:28:23.700> this<00:28:23.909> may<00:28:24.299> undermine 00:28:24.620 --> 00:28:24.630 align:start position:0% and but still did this may undermine 00:28:24.630 --> 00:28:27.950 align:start position:0% and but still did this may undermine this<00:28:25.639> this<00:28:26.639> legal<00:28:27.000> strategy<00:28:27.419> so<00:28:27.779> now 00:28:27.950 --> 00:28:27.960 align:start position:0% this this legal strategy so now 00:28:27.960 --> 00:28:31.130 align:start position:0% this this legal strategy so now questions<00:28:28.909> and<00:28:29.909> this<00:28:30.269> is<00:28:30.419> with<00:28:30.570> the<00:28:30.600> same 00:28:31.130 --> 00:28:31.140 align:start position:0% questions and this is with the same 00:28:31.140 --> 00:28:35.060 align:start position:0% questions and this is with the same to<00:28:31.260> consider<00:28:31.650> this<00:28:31.740> problem<00:28:33.620> in<00:28:34.620> the<00:28:34.770> legal 00:28:35.060 --> 00:28:35.070 align:start position:0% to consider this problem in the legal 00:28:35.070 --> 00:28:37.580 align:start position:0% to consider this problem in the legal things 00:28:37.580 --> 00:28:37.590 align:start position:0% 00:28:37.590 --> 00:28:39.640 align:start position:0% [Music] 00:28:39.640 --> 00:28:39.650 align:start position:0% [Music] 00:28:39.650 --> 00:28:45.940 align:start position:0% [Music] thank<00:28:40.650> you<00:28:40.910> I<00:28:42.830> just<00:28:43.830> I<00:28:44.220> just<00:28:44.310> explained<00:28:44.940> the 00:28:45.940 --> 00:28:45.950 align:start position:0% thank you I just I just explained the 00:28:45.950 --> 00:28:48.530 align:start position:0% thank you I just I just explained the decimalisation<00:28:46.950> by<00:28:47.280> itself<00:28:47.640> is<00:28:47.910> very<00:28:47.970> open 00:28:48.530 --> 00:28:48.540 align:start position:0% decimalisation by itself is very open 00:28:48.540 --> 00:28:51.200 align:start position:0% decimalisation by itself is very open like<00:28:48.720> a<00:28:48.750> legal<00:28:49.050> career<00:28:49.320> right<00:28:49.800> don't<00:28:50.700> regulate 00:28:51.200 --> 00:28:51.210 align:start position:0% like a legal career right don't regulate 00:28:51.210 --> 00:28:53.330 align:start position:0% like a legal career right don't regulate this<00:28:51.600> product<00:28:52.080> this<00:28:52.290> is<00:28:52.410> central<00:28:52.800> this<00:28:53.100> is<00:28:53.220> the 00:28:53.330 --> 00:28:53.340 align:start position:0% this product this is central this is the 00:28:53.340 --> 00:28:54.950 align:start position:0% this product this is central this is the sentience<00:28:53.820> right<00:28:54.060> so<00:28:54.300> there's<00:28:54.510> no<00:28:54.570> one<00:28:54.900> to 00:28:54.950 --> 00:28:54.960 align:start position:0% sentience right so there's no one to 00:28:54.960 --> 00:28:57.380 align:start position:0% sentience right so there's no one to regulate<00:28:55.500> yet<00:28:56.220> in<00:28:56.610> many<00:28:56.790> cases<00:28:57.240> you<00:28:57.360> actually 00:28:57.380 --> 00:28:57.390 align:start position:0% regulate yet in many cases you actually 00:28:57.390 --> 00:28:59.840 align:start position:0% regulate yet in many cases you actually see<00:28:57.930> that<00:28:58.410> there<00:28:58.770> is<00:28:58.800> someone<00:28:59.310> behind<00:28:59.490> you 00:28:59.840 --> 00:28:59.850 align:start position:0% see that there is someone behind you 00:28:59.850 --> 00:29:02.060 align:start position:0% see that there is someone behind you right<00:29:00.060> even<00:29:00.750> for<00:29:00.870> example<00:29:00.930> even<00:29:01.380> if<00:29:01.620> like<00:29:01.860> this 00:29:02.060 --> 00:29:02.070 align:start position:0% right even for example even if like this 00:29:02.070 --> 00:29:05.870 align:start position:0% right even for example even if like this is<00:29:02.250> non-custodial<00:29:03.950> there<00:29:04.950> is<00:29:05.070> someone<00:29:05.520> who<00:29:05.820> is 00:29:05.870 --> 00:29:05.880 align:start position:0% is non-custodial there is someone who is 00:29:05.880 --> 00:29:07.370 align:start position:0% is non-custodial there is someone who is controlling<00:29:06.240> price<00:29:06.630> of<00:29:06.840> its<00:29:06.990> which 00:29:07.370 --> 00:29:07.380 align:start position:0% controlling price of its which 00:29:07.380 --> 00:29:09.410 align:start position:0% controlling price of its which effectively<00:29:08.010> gives<00:29:08.400> a<00:29:08.580> lot<00:29:08.730> of<00:29:08.850> control<00:29:09.240> over 00:29:09.410 --> 00:29:09.420 align:start position:0% effectively gives a lot of control over 00:29:09.420 --> 00:29:12.440 align:start position:0% effectively gives a lot of control over over<00:29:09.960> the<00:29:10.050> product<00:29:10.440> great<00:29:10.920> so<00:29:11.910> they<00:29:12.030> can<00:29:12.240> come 00:29:12.440 --> 00:29:12.450 align:start position:0% over the product great so they can come 00:29:12.450 --> 00:29:15.890 align:start position:0% over the product great so they can come for<00:29:12.660> you<00:29:12.750> for<00:29:13.050> using<00:29:13.200> that<00:29:14.630> it<00:29:15.630> just 00:29:15.890 --> 00:29:15.900 align:start position:0% for you for using that it just 00:29:15.900 --> 00:29:17.750 align:start position:0% for you for using that it just underlines<00:29:16.230> this<00:29:16.740> very<00:29:17.010> claim<00:29:17.310> that<00:29:17.520> there<00:29:17.670> is 00:29:17.750 --> 00:29:17.760 align:start position:0% underlines this very claim that there is 00:29:17.760 --> 00:29:19.490 align:start position:0% underlines this very claim that there is no<00:29:17.940> on<00:29:18.060> the<00:29:18.210> island<00:29:18.570> right<00:29:18.900> so<00:29:19.170> that<00:29:19.350> it's 00:29:19.490 --> 00:29:19.500 align:start position:0% no on the island right so that it's 00:29:19.500 --> 00:29:21.110 align:start position:0% no on the island right so that it's running<00:29:19.920> on<00:29:20.010> the<00:29:20.130> town<00:29:20.370> it's<00:29:20.760> like<00:29:20.970> hopefully 00:29:21.110 --> 00:29:21.120 align:start position:0% running on the town it's like hopefully 00:29:21.120 --> 00:29:30.770 align:start position:0% running on the town it's like hopefully this<00:29:21.420> request<00:29:21.810> like<00:29:22.050> a<00:29:22.080> bit<00:29:22.530> right<00:29:28.280> so<00:29:29.750> quite<00:29:30.750> a 00:29:30.770 --> 00:29:30.780 align:start position:0% this request like a bit right so quite a 00:29:30.780 --> 00:29:31.570 align:start position:0% this request like a bit right so quite a big<00:29:30.990> awareness 00:29:31.570 --> 00:29:31.580 align:start position:0% big awareness 00:29:31.580 --> 00:29:34.079 align:start position:0% big awareness [Music] 00:29:34.079 --> 00:29:34.089 align:start position:0% [Music] 00:29:34.089 --> 00:29:37.599 align:start position:0% [Music] that's<00:29:35.089> a<00:29:35.209> sex<00:29:35.719> machine<00:29:36.219> which<00:29:37.219> is<00:29:37.369> how 00:29:37.599 --> 00:29:37.609 align:start position:0% that's a sex machine which is how 00:29:37.609 --> 00:29:54.770 align:start position:0% that's a sex machine which is how relevant<00:29:37.999> is<00:29:38.389> this<00:29:38.570> issue<00:29:38.719> for<00:29:39.079> your<00:29:39.259> project 00:29:54.770 --> 00:29:54.780 align:start position:0% 00:29:54.780 --> 00:30:00.450 align:start position:0% right<00:29:55.780> this<00:29:56.590> anyone<00:29:57.120> went<00:29:58.120> to<00:29:59.070> open<00:30:00.070> the<00:30:00.190> same 00:30:00.450 --> 00:30:00.460 align:start position:0% right this anyone went to open the same 00:30:00.460 --> 00:30:02.940 align:start position:0% right this anyone went to open the same which<00:30:01.240> project<00:30:01.750> they<00:30:01.870> are<00:30:01.990> representing<00:30:02.770> and 00:30:02.940 --> 00:30:02.950 align:start position:0% which project they are representing and 00:30:02.950 --> 00:30:08.210 align:start position:0% which project they are representing and why<00:30:03.310> they<00:30:03.670> do<00:30:04.180> choosing<00:30:06.600> one<00:30:07.600> of<00:30:07.750> deception 00:30:08.210 --> 00:30:08.220 align:start position:0% why they do choosing one of deception 00:30:08.220 --> 00:30:10.590 align:start position:0% why they do choosing one of deception yes<00:30:09.220> I'm<00:30:09.460> going<00:30:09.580> to<00:30:09.670> talk<00:30:09.880> about<00:30:09.970> finance<00:30:10.420> we 00:30:10.590 --> 00:30:10.600 align:start position:0% yes I'm going to talk about finance we 00:30:10.600 --> 00:30:13.170 align:start position:0% yes I'm going to talk about finance we do<00:30:10.750> interest<00:30:11.740> rates<00:30:11.890> across<00:30:12.130> county<00:30:13.030> wide 00:30:13.170 --> 00:30:13.180 align:start position:0% do interest rates across county wide 00:30:13.180 --> 00:30:16.890 align:start position:0% do interest rates across county wide exit<00:30:14.430> and<00:30:15.430> so<00:30:15.610> I<00:30:15.640> think<00:30:15.940> you<00:30:16.360> know<00:30:16.450> from<00:30:16.720> our 00:30:16.890 --> 00:30:16.900 align:start position:0% exit and so I think you know from our 00:30:16.900 --> 00:30:18.360 align:start position:0% exit and so I think you know from our perspective<00:30:17.050> one<00:30:17.590> where<00:30:17.830> they<00:30:17.950> can<00:30:18.100> prefer 00:30:18.360 --> 00:30:18.370 align:start position:0% perspective one where they can prefer 00:30:18.370 --> 00:30:20.070 align:start position:0% perspective one where they can prefer than<00:30:18.580> watching<00:30:18.940> today<00:30:19.150> so<00:30:19.210> we're<00:30:19.540> super<00:30:19.750> new 00:30:20.070 --> 00:30:20.080 align:start position:0% than watching today so we're super new 00:30:20.080 --> 00:30:32.820 align:start position:0% than watching today so we're super new and<00:30:20.350> like<00:30:20.500> obviously<00:30:22.440> generally<00:30:23.440> is<00:30:31.830> like 00:30:32.820 --> 00:30:32.830 align:start position:0% and like obviously generally is like 00:30:32.830 --> 00:30:36.330 align:start position:0% and like obviously generally is like trying<00:30:33.640> to<00:30:33.990> make<00:30:34.990> sure<00:30:35.050> we're<00:30:35.530> decentralized 00:30:36.330 --> 00:30:36.340 align:start position:0% trying to make sure we're decentralized 00:30:36.340 --> 00:30:39.450 align:start position:0% trying to make sure we're decentralized like<00:30:36.820> eating<00:30:37.450> the<00:30:37.780> direct<00:30:38.320> areas<00:30:38.830> which<00:30:39.250> is 00:30:39.450 --> 00:30:39.460 align:start position:0% like eating the direct areas which is 00:30:39.460 --> 00:30:40.110 align:start position:0% like eating the direct areas which is English 00:30:40.110 --> 00:30:40.120 align:start position:0% English 00:30:40.120 --> 00:30:58.120 align:start position:0% English we're<00:30:40.330> like<00:30:40.510> running 00:30:58.120 --> 00:30:58.130 align:start position:0% 00:30:58.130 --> 00:31:10.450 align:start position:0% with<00:31:01.880> other<00:31:06.230> standard<00:31:07.230> regulation<00:31:07.830> those 00:31:10.450 --> 00:31:10.460 align:start position:0% 00:31:10.460 --> 00:31:13.220 align:start position:0% yeah<00:31:11.460> that's<00:31:12.360> a<00:31:12.450> good<00:31:12.570> point<00:31:12.780> and<00:31:13.020> that's 00:31:13.220 --> 00:31:13.230 align:start position:0% yeah that's a good point and that's 00:31:13.230 --> 00:31:14.990 align:start position:0% yeah that's a good point and that's that's<00:31:13.500> absolutely<00:31:13.620> true<00:31:13.919> that<00:31:14.309> like<00:31:14.640> again 00:31:14.990 --> 00:31:15.000 align:start position:0% that's absolutely true that like again 00:31:15.000 --> 00:31:16.760 align:start position:0% that's absolutely true that like again I'm<00:31:15.240> trying<00:31:15.480> to<00:31:15.570> present<00:31:15.750> like<00:31:16.049> to<00:31:16.350> general 00:31:16.760 --> 00:31:16.770 align:start position:0% I'm trying to present like to general 00:31:16.770 --> 00:31:18.890 align:start position:0% I'm trying to present like to general problems<00:31:17.190> so<00:31:17.340> that<00:31:17.370> they<00:31:17.760> like<00:31:18.419> people<00:31:18.600> might 00:31:18.890 --> 00:31:18.900 align:start position:0% problems so that they like people might 00:31:18.900 --> 00:31:21.140 align:start position:0% problems so that they like people might think<00:31:18.929> about<00:31:19.260> that<00:31:19.650> like<00:31:19.980> no<00:31:20.159> matter<00:31:20.340> what 00:31:21.140 --> 00:31:21.150 align:start position:0% think about that like no matter what 00:31:21.150 --> 00:31:22.850 align:start position:0% think about that like no matter what country<00:31:21.360> they're<00:31:21.659> coming<00:31:22.080> in<00:31:22.200> what<00:31:22.650> they're 00:31:22.850 --> 00:31:22.860 align:start position:0% country they're coming in what they're 00:31:22.860 --> 00:31:25.880 align:start position:0% country they're coming in what they're actually<00:31:23.130> doing<00:31:23.370> but<00:31:24.299> of<00:31:24.419> course<00:31:24.690> this<00:31:25.620> is 00:31:25.880 --> 00:31:25.890 align:start position:0% actually doing but of course this is 00:31:25.890 --> 00:31:28.340 align:start position:0% actually doing but of course this is like<00:31:26.250> this<00:31:26.460> this<00:31:26.640> kindly<00:31:27.120> highly<00:31:27.870> depends<00:31:28.200> on 00:31:28.340 --> 00:31:28.350 align:start position:0% like this this kindly highly depends on 00:31:28.350 --> 00:31:31.039 align:start position:0% like this this kindly highly depends on context<00:31:28.559> right<00:31:29.010> so<00:31:29.340> you're<00:31:29.940> you're<00:31:30.419> you<00:31:30.870> know 00:31:31.039 --> 00:31:31.049 align:start position:0% context right so you're you're you know 00:31:31.049 --> 00:31:32.980 align:start position:0% context right so you're you're you know you're<00:31:31.320> certain<00:31:32.010> the<00:31:32.460> centralization 00:31:32.980 --> 00:31:32.990 align:start position:0% you're certain the centralization 00:31:32.990 --> 00:31:35.930 align:start position:0% you're certain the centralization centralization<00:31:33.990> balance<00:31:34.470> my<00:31:35.159> tourism<00:31:35.730> might 00:31:35.930 --> 00:31:35.940 align:start position:0% centralization balance my tourism might 00:31:35.940 --> 00:31:37.370 align:start position:0% centralization balance my tourism might you<00:31:36.210> know<00:31:36.330> the<00:31:36.480> result<00:31:36.780> might<00:31:36.929> be<00:31:36.960> that<00:31:37.230> you 00:31:37.370 --> 00:31:37.380 align:start position:0% you know the result might be that you 00:31:37.380 --> 00:31:39.770 align:start position:0% you know the result might be that you are<00:31:37.409> subject<00:31:37.799> to<00:31:38.419> payments<00:31:39.419> in<00:31:39.570> the<00:31:39.630> surf 00:31:39.770 --> 00:31:39.780 align:start position:0% are subject to payments in the surf 00:31:39.780 --> 00:31:41.240 align:start position:0% are subject to payments in the surf intersections<00:31:40.470> but<00:31:40.710> not<00:31:40.919> to<00:31:41.039> secure 00:31:41.240 --> 00:31:41.250 align:start position:0% intersections but not to secure 00:31:41.250 --> 00:31:44.000 align:start position:0% intersections but not to secure restraining<00:31:41.669> requirements<00:31:42.299> right<00:31:43.010> that 00:31:44.000 --> 00:31:44.010 align:start position:0% restraining requirements right that 00:31:44.010 --> 00:31:45.440 align:start position:0% restraining requirements right that really<00:31:44.159> depends<00:31:44.669> of<00:31:44.760> course<00:31:44.970> you<00:31:45.150> need<00:31:45.270> to 00:31:45.440 --> 00:31:45.450 align:start position:0% really depends of course you need to 00:31:45.450 --> 00:31:47.240 align:start position:0% really depends of course you need to like<00:31:45.659> very<00:31:45.929> careful<00:31:46.440> look<00:31:46.710> into<00:31:47.010> like 00:31:47.240 --> 00:31:47.250 align:start position:0% like very careful look into like 00:31:47.250 --> 00:31:50.000 align:start position:0% like very careful look into like specifics<00:31:47.970> and<00:31:48.360> also<00:31:48.840> specific<00:31:49.530> regulation 00:31:50.000 --> 00:31:50.010 align:start position:0% specifics and also specific regulation 00:31:50.010 --> 00:31:51.980 align:start position:0% specifics and also specific regulation maybe<00:31:50.370> given<00:31:50.610> country<00:31:50.789> in<00:31:51.419> order<00:31:51.570> to<00:31:51.690> come<00:31:51.960> up 00:31:51.980 --> 00:31:51.990 align:start position:0% maybe given country in order to come up 00:31:51.990 --> 00:31:54.320 align:start position:0% maybe given country in order to come up with<00:31:52.169> with<00:31:52.650> like<00:31:52.919> precise<00:31:53.309> answer<00:31:53.760> like<00:31:54.030> you 00:31:54.320 --> 00:31:54.330 align:start position:0% with with like precise answer like you 00:31:54.330 --> 00:31:57.560 align:start position:0% with with like precise answer like you like<00:31:55.140> out<00:31:55.320> of<00:31:55.350> necessity<00:31:55.770> we<00:31:56.130> need<00:31:56.280> to<00:31:56.539> stay<00:31:57.539> on 00:31:57.560 --> 00:31:57.570 align:start position:0% like out of necessity we need to stay on 00:31:57.570 --> 00:32:03.049 align:start position:0% like out of necessity we need to stay on this<00:31:57.809> on<00:31:58.020> this<00:31:58.110> terrible<00:32:00.289> today<00:32:01.880> okay<00:32:02.880> next 00:32:03.049 --> 00:32:03.059 align:start position:0% this on this terrible today okay next 00:32:03.059 --> 00:32:03.500 align:start position:0% this on this terrible today okay next question 00:32:03.500 --> 00:32:03.510 align:start position:0% question 00:32:03.510 --> 00:32:04.970 align:start position:0% question how<00:32:03.720> relevant<00:32:03.900> is<00:32:04.260> this<00:32:04.409> issue<00:32:04.559> for<00:32:04.890> the 00:32:04.970 --> 00:32:04.980 align:start position:0% how relevant is this issue for the 00:32:04.980 --> 00:32:06.240 align:start position:0% how relevant is this issue for the entire<00:32:05.039> different<00:32:05.700> space 00:32:06.240 --> 00:32:06.250 align:start position:0% entire different space 00:32:06.250 --> 00:32:14.630 align:start position:0% entire different space [Music] 00:32:14.630 --> 00:32:14.640 align:start position:0% 00:32:14.640 --> 00:32:19.360 align:start position:0% [Music] 00:32:19.360 --> 00:32:19.370 align:start position:0% 00:32:19.370 --> 00:32:21.070 align:start position:0% seems<00:32:19.970> like<00:32:20.240> a<00:32:20.269> really<00:32:20.539> straightforward 00:32:21.070 --> 00:32:21.080 align:start position:0% seems like a really straightforward 00:32:21.080 --> 00:32:27.250 align:start position:0% seems like a really straightforward concept 00:32:27.250 --> 00:32:27.260 align:start position:0% 00:32:27.260 --> 00:32:30.460 align:start position:0% and<00:32:28.030> the<00:32:29.030> last<00:32:29.240> one<00:32:29.510> solutions 00:32:30.460 --> 00:32:30.470 align:start position:0% and the last one solutions 00:32:30.470 --> 00:32:33.640 align:start position:0% and the last one solutions any<00:32:31.100> ideas<00:32:31.730> have<00:32:31.940> come<00:32:32.120> to<00:32:32.360> I<00:32:32.690> know<00:32:33.200> that<00:32:33.500> it's 00:32:33.640 --> 00:32:33.650 align:start position:0% any ideas have come to I know that it's 00:32:33.650 --> 00:32:36.610 align:start position:0% any ideas have come to I know that it's extremely<00:32:34.010> general<00:32:34.870> but<00:32:35.870> the<00:32:35.960> same<00:32:36.200> time<00:32:36.440> I 00:32:36.610 --> 00:32:36.620 align:start position:0% extremely general but the same time I 00:32:36.620 --> 00:32:38.230 align:start position:0% extremely general but the same time I see<00:32:36.830> it<00:32:36.860> is<00:32:37.010> probably<00:32:37.220> being<00:32:37.610> repeated<00:32:38.120> in 00:32:38.230 --> 00:32:38.240 align:start position:0% see it is probably being repeated in 00:32:38.240 --> 00:32:40.900 align:start position:0% see it is probably being repeated in many<00:32:38.360> complex<00:32:38.960> and<00:32:39.470> it's<00:32:40.130> notions<00:32:40.549> in<00:32:40.760> this 00:32:40.900 --> 00:32:40.910 align:start position:0% many complex and it's notions in this 00:32:40.910 --> 00:32:56.820 align:start position:0% many complex and it's notions in this one 00:32:56.820 --> 00:32:56.830 align:start position:0% 00:32:56.830 --> 00:33:15.740 align:start position:0% [Music] 00:33:15.740 --> 00:33:15.750 align:start position:0% 00:33:15.750 --> 00:33:17.930 align:start position:0% [Music] 00:33:17.930 --> 00:33:17.940 align:start position:0% [Music] 00:33:17.940 --> 00:33:20.400 align:start position:0% [Music] does<00:33:18.940> anyone<00:33:19.210> move<00:33:19.540> to<00:33:19.690> see<00:33:19.900> what<00:33:20.230> the 00:33:20.400 --> 00:33:20.410 align:start position:0% does anyone move to see what the 00:33:20.410 --> 00:33:29.160 align:start position:0% does anyone move to see what the understand<00:33:21.190> wait<00:33:21.340> for<00:33:21.580> Elvis<00:33:21.970> in<00:33:22.150> position 00:33:29.160 --> 00:33:29.170 align:start position:0% 00:33:29.170 --> 00:33:37.270 align:start position:0% but<00:33:30.170> I<00:33:30.200> assume<00:33:30.500> that<00:33:30.560> means<00:33:34.570> utility<00:33:35.570> or<00:33:36.280> do 00:33:37.270 --> 00:33:37.280 align:start position:0% but I assume that means utility or do 00:33:37.280 --> 00:33:40.750 align:start position:0% but I assume that means utility or do you<00:33:38.180> start<00:33:38.450> out<00:33:38.660> at<00:33:38.870> war<00:33:39.860> regularly 00:33:40.750 --> 00:33:40.760 align:start position:0% you start out at war regularly 00:33:40.760 --> 00:33:42.340 align:start position:0% you start out at war regularly centralize<00:33:41.240> that<00:33:41.270> you<00:33:41.540> know<00:33:41.660> maybe<00:33:42.020> saw<00:33:42.290> the 00:33:42.340 --> 00:33:42.350 align:start position:0% centralize that you know maybe saw the 00:33:42.350 --> 00:33:44.800 align:start position:0% centralize that you know maybe saw the horrible<00:33:42.650> trilogy<00:33:43.250> based<00:33:43.370> on<00:33:43.520> databases<00:33:43.940> my 00:33:44.800 --> 00:33:44.810 align:start position:0% horrible trilogy based on databases my 00:33:44.810 --> 00:33:47.350 align:start position:0% horrible trilogy based on databases my matches<00:33:45.530> and<00:33:45.800> then<00:33:46.310> as<00:33:46.460> you<00:33:46.670> I<00:33:46.700> think<00:33:46.880> through 00:33:47.350 --> 00:33:47.360 align:start position:0% matches and then as you I think through 00:33:47.360 --> 00:33:49.240 align:start position:0% matches and then as you I think through a<00:33:47.420> multiple<00:33:47.900> stage<00:33:48.080> multiple<00:33:48.680> strengths<00:33:49.040> you 00:33:49.240 --> 00:33:49.250 align:start position:0% a multiple stage multiple strengths you 00:33:49.250 --> 00:33:50.800 align:start position:0% a multiple stage multiple strengths you a<00:33:49.280> sort<00:33:49.580> of<00:33:49.670> design<00:33:49.970> architecture 00:33:50.800 --> 00:33:50.810 align:start position:0% a sort of design architecture 00:33:50.810 --> 00:33:53.740 align:start position:0% a sort of design architecture application<00:33:51.530> try<00:33:52.220> to<00:33:53.030> be<00:33:53.240> more<00:33:53.420> amore 00:33:53.740 --> 00:33:53.750 align:start position:0% application try to be more amore 00:33:53.750 --> 00:33:56.580 align:start position:0% application try to be more amore centralized<00:33:54.230> so<00:33:54.530> let's<00:33:54.770> rely<00:33:55.280> on<00:33:55.310> use<00:33:55.640> on 00:33:56.580 --> 00:33:56.590 align:start position:0% centralized so let's rely on use on 00:33:56.590 --> 00:33:58.750 align:start position:0% centralized so let's rely on use on centralized<00:33:57.590> point<00:33:57.860> of<00:33:58.040> data<00:33:58.190> and<00:33:58.610> black 00:33:58.750 --> 00:33:58.760 align:start position:0% centralized point of data and black 00:33:58.760 --> 00:34:03.340 align:start position:0% centralized point of data and black boxes<00:33:59.530> I<00:34:01.630> made<00:34:02.630> somebody<00:34:02.840> want<00:34:03.110> to<00:34:03.140> migrate 00:34:03.340 --> 00:34:03.350 align:start position:0% boxes I made somebody want to migrate 00:34:03.350 --> 00:34:05.350 align:start position:0% boxes I made somebody want to migrate man<00:34:03.770> and<00:34:04.100> just<00:34:04.310> want<00:34:04.490> to<00:34:04.580> add<00:34:04.790> one<00:34:04.820> more<00:34:05.300> thing 00:34:05.350 --> 00:34:05.360 align:start position:0% man and just want to add one more thing 00:34:05.360 --> 00:34:07.780 align:start position:0% man and just want to add one more thing that<00:34:05.840> it's<00:34:06.560> also<00:34:06.800> important<00:34:07.340> to<00:34:07.430> be<00:34:07.460> careful 00:34:07.780 --> 00:34:07.790 align:start position:0% that it's also important to be careful 00:34:07.790 --> 00:34:20.080 align:start position:0% that it's also important to be careful about<00:34:08.350> medications<00:34:17.440> if<00:34:18.440> the<00:34:19.399> token<00:34:19.550> is<00:34:19.730> a<00:34:19.790> part 00:34:20.080 --> 00:34:20.090 align:start position:0% about medications if the token is a part 00:34:20.090 --> 00:34:21.669 align:start position:0% about medications if the token is a part of<00:34:20.179> a<00:34:20.300> certain<00:34:20.600> person<00:34:20.720> certain<00:34:21.290> that's<00:34:21.560> the 00:34:21.669 --> 00:34:21.679 align:start position:0% of a certain person certain that's the 00:34:21.679 --> 00:34:23.860 align:start position:0% of a certain person certain that's the case<00:34:21.889> and<00:34:22.460> I<00:34:22.550> think<00:34:22.580> transparency<00:34:22.970> is<00:34:23.570> really 00:34:23.860 --> 00:34:23.870 align:start position:0% case and I think transparency is really 00:34:23.870 --> 00:34:25.600 align:start position:0% case and I think transparency is really good<00:34:24.020> point<00:34:24.290> it's<00:34:24.500> getting<00:34:25.070> a<00:34:25.250> lot<00:34:25.340> of<00:34:25.399> votes 00:34:25.600 --> 00:34:25.610 align:start position:0% good point it's getting a lot of votes 00:34:25.610 --> 00:34:27.070 align:start position:0% good point it's getting a lot of votes as<00:34:25.850> well<00:34:26.090> right<00:34:26.360> this<00:34:26.540> is<00:34:26.659> not<00:34:26.810> like<00:34:27.050> a 00:34:27.070 --> 00:34:27.080 align:start position:0% as well right this is not like a 00:34:27.080 --> 00:34:30.369 align:start position:0% as well right this is not like a solution<00:34:27.530> per<00:34:27.679> se<00:34:28.540> but<00:34:29.540> the<00:34:29.659> places<00:34:30.110> you<00:34:30.230> know 00:34:30.369 --> 00:34:30.379 align:start position:0% solution per se but the places you know 00:34:30.379 --> 00:34:33.940 align:start position:0% solution per se but the places you know it's<00:34:30.649> it<00:34:31.129> really<00:34:31.490> delivers<00:34:32.330> all<00:34:32.659> the<00:34:32.720> value<00:34:33.230> no 00:34:33.940 --> 00:34:33.950 align:start position:0% it's it really delivers all the value no 00:34:33.950 --> 00:34:37.419 align:start position:0% it's it really delivers all the value no towards<00:34:34.790> your<00:34:35.030> users<00:34:36.070> commercial<00:34:37.070> interest 00:34:37.419 --> 00:34:37.429 align:start position:0% towards your users commercial interest 00:34:37.429 --> 00:34:38.889 align:start position:0% towards your users commercial interest is<00:34:37.550> regulators<00:34:38.120> as<00:34:38.300> well<00:34:38.510> so<00:34:38.659> that<00:34:38.780> you're 00:34:38.889 --> 00:34:38.899 align:start position:0% is regulators as well so that you're 00:34:38.899 --> 00:34:45.550 align:start position:0% is regulators as well so that you're transferring<00:34:39.470> over<00:34:39.770> time<00:34:44.139> right<00:34:45.200> awareness 00:34:45.550 --> 00:34:45.560 align:start position:0% transferring over time right awareness 00:34:45.560 --> 00:34:47.239 align:start position:0% transferring over time right awareness is<00:34:45.889> possible 00:34:47.239 --> 00:34:47.249 align:start position:0% is possible 00:34:47.249 --> 00:34:51.539 align:start position:0% is possible right<00:34:48.489> let's<00:34:49.329> move<00:34:49.509> on<00:34:49.839> so<00:34:50.409> the<00:34:50.799> third<00:34:51.069> problem 00:34:51.539 --> 00:34:51.549 align:start position:0% right let's move on so the third problem 00:34:51.549 --> 00:34:54.649 align:start position:0% right let's move on so the third problem is<00:34:51.999> about<00:34:52.419> integrative<00:34:53.079> income<00:34:53.469> and<00:34:53.649> finance 00:34:54.649 --> 00:34:54.659 align:start position:0% is about integrative income and finance 00:34:54.659 --> 00:34:57.329 align:start position:0% is about integrative income and finance which<00:34:55.659> is<00:34:55.779> not<00:34:55.989> only<00:34:56.229> a<00:34:56.409> legal<00:34:56.709> problem<00:34:57.039> I 00:34:57.329 --> 00:34:57.339 align:start position:0% which is not only a legal problem I 00:34:57.339 --> 00:35:05.150 align:start position:0% which is not only a legal problem I think<00:34:59.700> but<00:35:00.700> also<00:35:02.160> so<00:35:03.160> what<00:35:03.670> example<00:35:04.180> is<00:35:04.420> that 00:35:05.150 --> 00:35:05.160 align:start position:0% think but also so what example is that 00:35:05.160 --> 00:35:08.849 align:start position:0% think but also so what example is that these<00:35:06.160> are<00:35:06.400> like<00:35:07.259> from<00:35:08.259> from<00:35:08.499> the<00:35:08.589> legal 00:35:08.849 --> 00:35:08.859 align:start position:0% these are like from from the legal 00:35:08.859 --> 00:35:10.859 align:start position:0% these are like from from the legal institutional<00:35:09.670> perspective<00:35:09.910> these<00:35:10.479> are<00:35:10.630> two 00:35:10.859 --> 00:35:10.869 align:start position:0% institutional perspective these are two 00:35:10.869 --> 00:35:12.539 align:start position:0% institutional perspective these are two completely<00:35:11.200> different<00:35:11.499> worlds<00:35:12.099> right<00:35:12.160> and 00:35:12.539 --> 00:35:12.549 align:start position:0% completely different worlds right and 00:35:12.549 --> 00:35:15.299 align:start position:0% completely different worlds right and one<00:35:12.700> specific<00:35:13.119> example<00:35:13.450> that<00:35:13.989> is<00:35:14.200> that<00:35:14.410> in 00:35:15.299 --> 00:35:15.309 align:start position:0% one specific example that is that in 00:35:15.309 --> 00:35:19.199 align:start position:0% one specific example that is that in define<00:35:16.299> or<00:35:16.709> in<00:35:17.709> general<00:35:18.099> we<00:35:18.579> are<00:35:18.609> mostly 00:35:19.199 --> 00:35:19.209 align:start position:0% define or in general we are mostly 00:35:19.209 --> 00:35:21.660 align:start position:0% define or in general we are mostly talking<00:35:19.420> about<00:35:19.660> pure<00:35:20.289> assets<00:35:20.829> rights<00:35:21.339> like 00:35:21.660 --> 00:35:21.670 align:start position:0% talking about pure assets rights like 00:35:21.670 --> 00:35:23.789 align:start position:0% talking about pure assets rights like bit<00:35:22.150> coincident<00:35:22.809> you<00:35:22.930> know<00:35:23.049> you<00:35:23.289> know<00:35:23.410> beyond 00:35:23.789 --> 00:35:23.799 align:start position:0% bit coincident you know you know beyond 00:35:23.799 --> 00:35:25.559 align:start position:0% bit coincident you know you know beyond the<00:35:23.979> kiss<00:35:24.190> you<00:35:24.459> on<00:35:24.489> the<00:35:24.819> assets<00:35:25.150> right<00:35:25.359> and 00:35:25.559 --> 00:35:25.569 align:start position:0% the kiss you on the assets right and 00:35:25.569 --> 00:35:27.390 align:start position:0% the kiss you on the assets right and that's<00:35:25.749> all<00:35:25.900> you<00:35:26.079> are<00:35:26.200> you<00:35:26.229> are<00:35:26.559> there<00:35:26.739> there 00:35:27.390 --> 00:35:27.400 align:start position:0% that's all you are you are there there 00:35:27.400 --> 00:35:29.969 align:start position:0% that's all you are you are there there is<00:35:27.489> techno<00:35:27.910> custody<00:35:28.509> there's<00:35:28.719> like<00:35:28.989> no<00:35:29.289> no 00:35:29.969 --> 00:35:29.979 align:start position:0% is techno custody there's like no no 00:35:29.979 --> 00:35:33.779 align:start position:0% is techno custody there's like no no other<00:35:30.160> part<00:35:30.519> in<00:35:30.700> here<00:35:32.279> finance<00:35:33.279> this<00:35:33.459> is<00:35:33.519> about 00:35:33.779 --> 00:35:33.789 align:start position:0% other part in here finance this is about 00:35:33.789 --> 00:35:36.660 align:start position:0% other part in here finance this is about all<00:35:34.509> of<00:35:34.569> all<00:35:34.989> evolved<00:35:35.259> registered<00:35:35.829> nozzles<00:35:36.219> so 00:35:36.660 --> 00:35:36.670 align:start position:0% all of all evolved registered nozzles so 00:35:36.670 --> 00:35:38.489 align:start position:0% all of all evolved registered nozzles so so<00:35:36.969> that<00:35:37.150> your<00:35:37.329> asset<00:35:37.660> is<00:35:37.779> actually<00:35:38.049> claim 00:35:38.489 --> 00:35:38.499 align:start position:0% so that your asset is actually claim 00:35:38.499 --> 00:35:40.170 align:start position:0% so that your asset is actually claim against<00:35:38.890> someone<00:35:39.339> that<00:35:39.579> sometimes<00:35:39.969> it's 00:35:40.170 --> 00:35:40.180 align:start position:0% against someone that sometimes it's 00:35:40.180 --> 00:35:41.759 align:start position:0% against someone that sometimes it's really<00:35:40.450> complicated<00:35:40.749> who<00:35:41.200> they<00:35:41.349> are<00:35:41.380> to<00:35:41.559> put 00:35:41.759 --> 00:35:41.769 align:start position:0% really complicated who they are to put 00:35:41.769 --> 00:35:45.959 align:start position:0% really complicated who they are to put this<00:35:41.859> other<00:35:42.069> person<00:35:42.519> is<00:35:43.349> that<00:35:44.349> is<00:35:44.469> like<00:35:44.969> some 00:35:45.959 --> 00:35:45.969 align:start position:0% this other person is that is like some 00:35:45.969 --> 00:35:48.239 align:start position:0% this other person is that is like some whole<00:35:46.150> be<00:35:46.359> obligated<00:35:46.930> towards<00:35:47.380> right<00:35:47.829> if 00:35:48.239 --> 00:35:48.249 align:start position:0% whole be obligated towards right if 00:35:48.249 --> 00:35:50.339 align:start position:0% whole be obligated towards right if you're<00:35:48.430> holding<00:35:48.819> like<00:35:48.849> a<00:35:48.999> stalk<00:35:49.390> like<00:35:49.719> most<00:35:50.229> of 00:35:50.339 --> 00:35:50.349 align:start position:0% you're holding like a stalk like most of 00:35:50.349 --> 00:35:52.920 align:start position:0% you're holding like a stalk like most of the<00:35:50.440> colors<00:35:50.680> in<00:35:51.609> the<00:35:51.699> word<00:35:51.910> you're<00:35:52.449> actually 00:35:52.920 --> 00:35:52.930 align:start position:0% the colors in the word you're actually 00:35:52.930 --> 00:35:55.109 align:start position:0% the colors in the word you're actually not<00:35:53.170> like<00:35:53.529> you're<00:35:54.009> not<00:35:54.219> having<00:35:54.579> this<00:35:54.699> like 00:35:55.109 --> 00:35:55.119 align:start position:0% not like you're not having this like 00:35:55.119 --> 00:35:56.670 align:start position:0% not like you're not having this like we're<00:35:55.299> having<00:35:55.479> this<00:35:55.690> this<00:35:55.930> claim<00:35:56.289> I<00:35:56.440> guess<00:35:56.559> the 00:35:56.670 --> 00:35:56.680 align:start position:0% we're having this this claim I guess the 00:35:56.680 --> 00:35:58.229 align:start position:0% we're having this this claim I guess the company<00:35:57.069> but<00:35:57.219> actually<00:35:57.549> there<00:35:57.759> is<00:35:57.849> a<00:35:57.880> certain 00:35:58.229 --> 00:35:58.239 align:start position:0% company but actually there is a certain 00:35:58.239 --> 00:36:00.029 align:start position:0% company but actually there is a certain castes<00:35:58.479> to<00:35:58.569> be<00:35:58.690> understood<00:35:59.199> in<00:35:59.349> broker<00:35:59.619> that 00:36:00.029 --> 00:36:00.039 align:start position:0% castes to be understood in broker that 00:36:00.039 --> 00:36:03.569 align:start position:0% castes to be understood in broker that is<00:36:00.640> this<00:36:01.119> you<00:36:01.299> know<00:36:01.799> actually<00:36:02.799> holding<00:36:03.309> this 00:36:03.569 --> 00:36:03.579 align:start position:0% is this you know actually holding this 00:36:03.579 --> 00:36:06.209 align:start position:0% is this you know actually holding this legal<00:36:03.999> right<00:36:04.499> and<00:36:05.499> this<00:36:05.650> is<00:36:05.799> just<00:36:05.859> an<00:36:06.099> example 00:36:06.209 --> 00:36:06.219 align:start position:0% legal right and this is just an example 00:36:06.219 --> 00:36:09.779 align:start position:0% legal right and this is just an example right<00:36:07.199> we<00:36:08.199> all<00:36:08.319> know<00:36:08.529> that<00:36:08.829> you<00:36:09.160> know<00:36:09.279> default 00:36:09.779 --> 00:36:09.789 align:start position:0% right we all know that you know default 00:36:09.789 --> 00:36:11.670 align:start position:0% right we all know that you know default is<00:36:10.029> is<00:36:10.329> mostly<00:36:10.749> about<00:36:10.900> building<00:36:11.410> things<00:36:11.559> that 00:36:11.670 --> 00:36:11.680 align:start position:0% is is mostly about building things that 00:36:11.680 --> 00:36:13.499 align:start position:0% is is mostly about building things that are<00:36:11.890> permissionless<00:36:12.459> in<00:36:12.999> traditional 00:36:13.499 --> 00:36:13.509 align:start position:0% are permissionless in traditional 00:36:13.509 --> 00:36:15.749 align:start position:0% are permissionless in traditional financed<00:36:14.019> by<00:36:14.170> their<00:36:14.380> definition 00:36:15.749 --> 00:36:15.759 align:start position:0% financed by their definition 00:36:15.759 --> 00:36:17.699 align:start position:0% financed by their definition these<00:36:16.269> are<00:36:16.509> permission<00:36:17.079> so<00:36:17.259> she's<00:36:17.499> right<00:36:17.680> that 00:36:17.699 --> 00:36:17.709 align:start position:0% these are permission so she's right that 00:36:17.709 --> 00:36:19.680 align:start position:0% these are permission so she's right that they're<00:36:17.949> based<00:36:18.219> on<00:36:18.430> some<00:36:18.759> awesome<00:36:19.089> trusted 00:36:19.680 --> 00:36:19.690 align:start position:0% they're based on some awesome trusted 00:36:19.690 --> 00:36:23.279 align:start position:0% they're based on some awesome trusted partisan<00:36:20.289> essential<00:36:20.920> controversies<00:36:22.079> and<00:36:23.079> our 00:36:23.279 --> 00:36:23.289 align:start position:0% partisan essential controversies and our 00:36:23.289 --> 00:36:26.370 align:start position:0% partisan essential controversies and our example<00:36:24.089> that<00:36:25.089> America<00:36:25.479> actually<00:36:25.959> had<00:36:26.170> this 00:36:26.370 --> 00:36:26.380 align:start position:0% example that America actually had this 00:36:26.380 --> 00:36:28.410 align:start position:0% example that America actually had this this<00:36:26.799> discussion<00:36:27.699> in<00:36:27.819> the<00:36:28.089> committee 00:36:28.410 --> 00:36:28.420 align:start position:0% this discussion in the committee 00:36:28.420 --> 00:36:33.209 align:start position:0% this discussion in the committee recently<00:36:29.130> about<00:36:30.130> MCD<00:36:31.059> and<00:36:31.239> no<00:36:31.989> trustless<00:36:32.799> or 00:36:33.209 --> 00:36:33.219 align:start position:0% recently about MCD and no trustless or 00:36:33.219 --> 00:36:35.039 align:start position:0% recently about MCD and no trustless or permission<00:36:34.119> as<00:36:34.390> I<00:36:34.509> as<00:36:34.690> I<00:36:34.779> call<00:36:35.019> it 00:36:35.039 --> 00:36:35.049 align:start position:0% permission as I as I call it 00:36:35.049 --> 00:36:37.829 align:start position:0% permission as I as I call it authenticity<00:36:35.650> right<00:36:36.519> how<00:36:37.209> would<00:36:37.420> it<00:36:37.509> play<00:36:37.569> out 00:36:37.829 --> 00:36:37.839 align:start position:0% authenticity right how would it play out 00:36:37.839 --> 00:36:41.189 align:start position:0% authenticity right how would it play out and<00:36:38.259> how<00:36:38.349> exactly<00:36:39.099> can<00:36:39.369> we<00:36:39.430> combine<00:36:40.420> like<00:36:40.809> this 00:36:41.189 --> 00:36:41.199 align:start position:0% and how exactly can we combine like this 00:36:41.199 --> 00:36:43.499 align:start position:0% and how exactly can we combine like this permission<00:36:41.589> nature<00:36:42.130> of<00:36:42.249> many<00:36:42.519> assets<00:36:42.999> with 00:36:43.499 --> 00:36:43.509 align:start position:0% permission nature of many assets with 00:36:43.509 --> 00:36:48.490 align:start position:0% permission nature of many assets with the<00:36:43.539> permission<00:36:44.229> less<00:36:46.619> nature<00:36:47.619> of 00:36:48.490 --> 00:36:48.500 align:start position:0% the permission less nature of 00:36:48.500 --> 00:36:50.650 align:start position:0% the permission less nature of or<00:36:48.590> the<00:36:49.220> whole<00:36:49.340> product<00:36:49.790> of<00:36:49.970> em<00:36:50.119> city<00:36:50.450> and 00:36:50.650 --> 00:36:50.660 align:start position:0% or the whole product of em city and 00:36:50.660 --> 00:36:54.460 align:start position:0% or the whole product of em city and elevators<00:36:51.880> and<00:36:52.880> this<00:36:53.090> is<00:36:53.270> you<00:36:53.480> know<00:36:53.599> that 00:36:54.460 --> 00:36:54.470 align:start position:0% elevators and this is you know that 00:36:54.470 --> 00:36:56.140 align:start position:0% elevators and this is you know that sounds<00:36:54.800> to<00:36:55.130> me<00:36:55.250> general<00:36:55.670> but<00:36:55.700> they're<00:36:55.940> very 00:36:56.140 --> 00:36:56.150 align:start position:0% sounds to me general but they're very 00:36:56.150 --> 00:36:58.030 align:start position:0% sounds to me general but they're very practical<00:36:56.359> questions<00:36:57.109> about<00:36:57.410> it<00:36:57.560> right<00:36:57.830> like 00:36:58.030 --> 00:36:58.040 align:start position:0% practical questions about it right like 00:36:58.040 --> 00:37:00.520 align:start position:0% practical questions about it right like how<00:36:58.670> do<00:36:58.730> you<00:36:59.060> how<00:36:59.359> do<00:36:59.420> you<00:36:59.570> you<00:36:59.960> know<00:36:59.990> answer 00:37:00.520 --> 00:37:00.530 align:start position:0% how do you how do you you know answer 00:37:00.530 --> 00:37:02.440 align:start position:0% how do you how do you you know answer this<00:37:00.890> question<00:37:01.400> what<00:37:01.700> will<00:37:01.940> happen<00:37:02.270> if 00:37:02.440 --> 00:37:02.450 align:start position:0% this question what will happen if 00:37:02.450 --> 00:37:03.910 align:start position:0% this question what will happen if certain<00:37:02.840> asset<00:37:03.260> that<00:37:03.290> they<00:37:03.500> scaled<00:37:03.800> is 00:37:03.910 --> 00:37:03.920 align:start position:0% certain asset that they scaled is 00:37:03.920 --> 00:37:06.940 align:start position:0% certain asset that they scaled is collateral<00:37:04.220> exposed<00:37:04.910> right<00:37:05.330> or<00:37:05.599> the<00:37:06.140> forced 00:37:06.940 --> 00:37:06.950 align:start position:0% collateral exposed right or the forced 00:37:06.950 --> 00:37:09.280 align:start position:0% collateral exposed right or the forced transfer<00:37:07.130> function<00:37:07.910> is<00:37:08.030> uses<00:37:08.420> right<00:37:08.660> these 00:37:09.280 --> 00:37:09.290 align:start position:0% transfer function is uses right these 00:37:09.290 --> 00:37:10.990 align:start position:0% transfer function is uses right these are<00:37:09.320> these<00:37:09.710> are<00:37:09.740> also<00:37:09.950> technical<00:37:10.520> problems 00:37:10.990 --> 00:37:11.000 align:start position:0% are these are also technical problems 00:37:11.000 --> 00:37:12.550 align:start position:0% are these are also technical problems not<00:37:11.300> to<00:37:11.359> mention<00:37:11.630> that<00:37:11.810> there<00:37:11.960> are<00:37:12.020> legal<00:37:12.200> ones 00:37:12.550 --> 00:37:12.560 align:start position:0% not to mention that there are legal ones 00:37:12.560 --> 00:37:14.560 align:start position:0% not to mention that there are legal ones right<00:37:12.830> because<00:37:13.130> what<00:37:13.340> does<00:37:13.490> it<00:37:13.550> mean<00:37:13.849> to<00:37:14.060> to 00:37:14.560 --> 00:37:14.570 align:start position:0% right because what does it mean to to 00:37:14.570 --> 00:37:16.450 align:start position:0% right because what does it mean to to stop<00:37:14.810> something<00:37:15.109> at<00:37:15.470> whose<00:37:15.710> call<00:37:15.920> degrees<00:37:16.280> us 00:37:16.450 --> 00:37:16.460 align:start position:0% stop something at whose call degrees us 00:37:16.460 --> 00:37:19.380 align:start position:0% stop something at whose call degrees us at<00:37:16.670> once<00:37:16.940> it<00:37:17.300> is<00:37:17.540> in<00:37:17.780> the<00:37:18.080> provisional<00:37:18.530> is<00:37:18.650> that 00:37:19.380 --> 00:37:19.390 align:start position:0% at once it is in the provisional is that 00:37:19.390 --> 00:37:21.760 align:start position:0% at once it is in the provisional is that so<00:37:20.390> that's<00:37:20.599> that's<00:37:20.840> a<00:37:20.960> very<00:37:20.990> specific<00:37:21.349> problem 00:37:21.760 --> 00:37:21.770 align:start position:0% so that's that's a very specific problem 00:37:21.770 --> 00:37:23.460 align:start position:0% so that's that's a very specific problem because<00:37:22.099> that's<00:37:22.250> not<00:37:22.490> necessarily<00:37:22.880> a<00:37:23.090> problem 00:37:23.460 --> 00:37:23.470 align:start position:0% because that's not necessarily a problem 00:37:23.470 --> 00:37:27.070 align:start position:0% because that's not necessarily a problem regulator<00:37:24.470> problem<00:37:24.710> right<00:37:25.160> that<00:37:25.460> like<00:37:26.420> as<00:37:26.630> the 00:37:27.070 --> 00:37:27.080 align:start position:0% regulator problem right that like as the 00:37:27.080 --> 00:37:28.839 align:start position:0% regulator problem right that like as the the<00:37:27.470> other<00:37:27.619> ones<00:37:27.920> that<00:37:28.070> we're<00:37:28.310> talking<00:37:28.580> about 00:37:28.839 --> 00:37:28.849 align:start position:0% the other ones that we're talking about 00:37:28.849 --> 00:37:31.120 align:start position:0% the other ones that we're talking about that<00:37:29.030> there<00:37:29.180> is<00:37:29.300> a<00:37:29.330> certain<00:37:29.570> risk<00:37:29.900> that<00:37:30.140> us<00:37:30.680> as 00:37:31.120 --> 00:37:31.130 align:start position:0% that there is a certain risk that us as 00:37:31.130 --> 00:37:33.670 align:start position:0% that there is a certain risk that us as like<00:37:31.369> defined<00:37:31.910> project<00:37:32.180> creators<00:37:32.840> might<00:37:33.500> be 00:37:33.670 --> 00:37:33.680 align:start position:0% like defined project creators might be 00:37:33.680 --> 00:37:36.310 align:start position:0% like defined project creators might be helped<00:37:34.099> to<00:37:34.400> lay<00:37:34.760> a<00:37:34.790> build<00:37:35.090> this<00:37:35.750> is<00:37:35.900> a<00:37:35.930> strictly 00:37:36.310 --> 00:37:36.320 align:start position:0% helped to lay a build this is a strictly 00:37:36.320 --> 00:37:41.020 align:start position:0% helped to lay a build this is a strictly legal<00:37:36.530> problem<00:37:37.130> that<00:37:37.280> we<00:37:37.460> have<00:37:38.680> because<00:37:39.680> we<00:37:40.030> we 00:37:41.020 --> 00:37:41.030 align:start position:0% legal problem that we have because we we 00:37:41.030 --> 00:37:43.120 align:start position:0% legal problem that we have because we we somehow<00:37:41.270> want<00:37:41.450> these<00:37:41.990> two<00:37:42.170> real-world<00:37:42.560> assets 00:37:43.120 --> 00:37:43.130 align:start position:0% somehow want these two real-world assets 00:37:43.130 --> 00:37:45.490 align:start position:0% somehow want these two real-world assets to<00:37:43.640> be<00:37:43.940> to<00:37:44.330> be<00:37:44.420> brought<00:37:44.720> into<00:37:45.020> the<00:37:45.200> device 00:37:45.490 --> 00:37:45.500 align:start position:0% to be to be brought into the device 00:37:45.500 --> 00:37:47.800 align:start position:0% to be to be brought into the device space<00:37:45.770> yes<00:37:46.340> we<00:37:46.520> are<00:37:46.609> facing<00:37:46.880> facing<00:37:47.390> with<00:37:47.690> this 00:37:47.800 --> 00:37:47.810 align:start position:0% space yes we are facing facing with this 00:37:47.810 --> 00:37:50.290 align:start position:0% space yes we are facing facing with this these<00:37:48.380> problems<00:37:48.890> and<00:37:49.099> this<00:37:49.490> also<00:37:49.700> nothing<00:37:50.150> but 00:37:50.290 --> 00:37:50.300 align:start position:0% these problems and this also nothing but 00:37:50.300 --> 00:37:52.390 align:start position:0% these problems and this also nothing but not<00:37:50.420> just<00:37:50.599> about<00:37:50.840> us<00:37:51.109> but<00:37:51.500> also<00:37:51.710> integrated 00:37:52.390 --> 00:37:52.400 align:start position:0% not just about us but also integrated 00:37:52.400 --> 00:37:54.010 align:start position:0% not just about us but also integrated with<00:37:52.430> the<00:37:52.700> traditional<00:37:53.180> minor<00:37:53.450> financial 00:37:54.010 --> 00:37:54.020 align:start position:0% with the traditional minor financial 00:37:54.020 --> 00:37:55.960 align:start position:0% with the traditional minor financial structure<00:37:54.530> right<00:37:54.650> so<00:37:54.830> for<00:37:55.010> example<00:37:55.400> bringing 00:37:55.960 --> 00:37:55.970 align:start position:0% structure right so for example bringing 00:37:55.970 --> 00:37:58.240 align:start position:0% structure right so for example bringing define<00:37:56.630> assets<00:37:57.109> into<00:37:57.530> traditional<00:37:57.740> fires 00:37:58.240 --> 00:37:58.250 align:start position:0% define assets into traditional fires 00:37:58.250 --> 00:37:59.829 align:start position:0% define assets into traditional fires this<00:37:58.520> is<00:37:58.670> the<00:37:58.760> same<00:37:58.940> problem<00:37:59.150> right<00:37:59.390> up<00:37:59.720> to 00:37:59.829 --> 00:37:59.839 align:start position:0% this is the same problem right up to 00:37:59.839 --> 00:38:01.690 align:start position:0% this is the same problem right up to brick<00:38:00.020> permissionless<00:38:00.589> assets<00:38:01.099> into<00:38:01.670> a 00:38:01.690 --> 00:38:01.700 align:start position:0% brick permissionless assets into a 00:38:01.700 --> 00:38:05.650 align:start position:0% brick permissionless assets into a prohibition<00:38:02.210> triangle<00:38:02.540> environment<00:38:04.660> there 00:38:05.650 --> 00:38:05.660 align:start position:0% prohibition triangle environment there 00:38:05.660 --> 00:38:08.710 align:start position:0% prohibition triangle environment there we<00:38:05.750> go<00:38:05.869> with<00:38:05.990> questions<00:38:07.359> did<00:38:08.359> you<00:38:08.390> consider 00:38:08.710 --> 00:38:08.720 align:start position:0% we go with questions did you consider 00:38:08.720 --> 00:38:10.840 align:start position:0% we go with questions did you consider this 00:38:10.840 --> 00:38:10.850 align:start position:0% this 00:38:10.850 --> 00:38:13.930 align:start position:0% this it<00:38:11.390> might<00:38:11.630> not<00:38:11.780> be<00:38:11.950> totally<00:38:12.950> relevant<00:38:13.430> for 00:38:13.930 --> 00:38:13.940 align:start position:0% it might not be totally relevant for 00:38:13.940 --> 00:38:26.500 align:start position:0% it might not be totally relevant for some<00:38:14.240> projects<00:38:14.720> for<00:38:15.650> some<00:38:15.920> other<00:38:16.070> it<00:38:16.490> is<00:38:16.670> extra 00:38:26.500 --> 00:38:26.510 align:start position:0% 00:38:26.510 --> 00:38:33.320 align:start position:0% perfectly<00:38:28.970> so<00:38:29.970> let's<00:38:30.180> see<00:38:31.670> if<00:38:32.670> you<00:38:32.820> guys<00:38:33.000> think 00:38:33.320 --> 00:38:33.330 align:start position:0% perfectly so let's see if you guys think 00:38:33.330 --> 00:38:48.660 align:start position:0% perfectly so let's see if you guys think it's<00:38:33.510> relevant<00:38:34.260> for<00:38:35.160> you 00:38:48.660 --> 00:38:48.670 align:start position:0% 00:38:48.670 --> 00:39:04.490 align:start position:0% all<00:38:49.670> right<00:38:49.790> and<00:38:50.060> if<00:38:50.420> anyone 00:39:04.490 --> 00:39:04.500 align:start position:0% 00:39:04.500 --> 00:39:07.140 align:start position:0% this<00:39:05.500> is<00:39:05.650> also<00:39:05.950> the<00:39:06.190> legal<00:39:06.490> problem<00:39:06.880> in<00:39:07.030> a<00:39:07.120> way 00:39:07.140 --> 00:39:07.150 align:start position:0% this is also the legal problem in a way 00:39:07.150 --> 00:39:09.510 align:start position:0% this is also the legal problem in a way that<00:39:07.600> this<00:39:08.140> is<00:39:08.200> how<00:39:08.530> regulation<00:39:08.860> is<00:39:09.280> built 00:39:09.510 --> 00:39:09.520 align:start position:0% that this is how regulation is built 00:39:09.520 --> 00:39:12.600 align:start position:0% that this is how regulation is built right<00:39:09.760> like<00:39:10.380> financial<00:39:11.380> loss<00:39:11.560> our<00:39:11.860> response 00:39:12.600 --> 00:39:12.610 align:start position:0% right like financial loss our response 00:39:12.610 --> 00:39:14.550 align:start position:0% right like financial loss our response to<00:39:12.850> our<00:39:13.060> financial<00:39:13.480> system<00:39:14.020> works<00:39:14.260> and 00:39:14.550 --> 00:39:14.560 align:start position:0% to our financial system works and 00:39:14.560 --> 00:39:16.710 align:start position:0% to our financial system works and diverse<00:39:15.280> in<00:39:15.490> the<00:39:15.550> permission<00:39:15.970> of<00:39:16.060> permission 00:39:16.710 --> 00:39:16.720 align:start position:0% diverse in the permission of permission 00:39:16.720 --> 00:39:18.630 align:start position:0% diverse in the permission of permission model<00:39:16.930> right<00:39:17.260> this<00:39:17.500> is<00:39:17.650> visit<00:39:18.040> perhaps<00:39:18.400> to 00:39:18.630 --> 00:39:18.640 align:start position:0% model right this is visit perhaps to 00:39:18.640 --> 00:39:20.400 align:start position:0% model right this is visit perhaps to develop<00:39:19.120> like<00:39:19.300> the<00:39:19.420> source<00:39:19.690> the<00:39:20.020> source<00:39:20.050> of 00:39:20.400 --> 00:39:20.410 align:start position:0% develop like the source the source of 00:39:20.410 --> 00:39:24.210 align:start position:0% develop like the source the source of the<00:39:20.530> optic<00:39:20.830> of<00:39:20.920> the<00:39:21.070> problem<00:39:22.770> and<00:39:23.770> come 00:39:24.210 --> 00:39:24.220 align:start position:0% the optic of the problem and come 00:39:24.220 --> 00:39:25.980 align:start position:0% the optic of the problem and come relevant<00:39:24.670> is<00:39:24.820> for<00:39:25.120> the<00:39:25.240> entire<00:39:25.480> different 00:39:25.980 --> 00:39:25.990 align:start position:0% relevant is for the entire different 00:39:25.990 --> 00:39:32.280 align:start position:0% relevant is for the entire different space<00:39:30.090> of<00:39:31.090> course<00:39:31.330> it<00:39:31.510> depends<00:39:31.990> in<00:39:32.170> the 00:39:32.280 --> 00:39:32.290 align:start position:0% space of course it depends in the 00:39:32.290 --> 00:39:35.400 align:start position:0% space of course it depends in the perspective<00:39:32.890> right<00:39:33.100> because<00:39:33.490> people<00:39:34.410> are 00:39:35.400 --> 00:39:35.410 align:start position:0% perspective right because people are 00:39:35.410 --> 00:39:37.400 align:start position:0% perspective right because people are think<00:39:35.650> about<00:39:35.860> deploys<00:39:36.340> like<00:39:36.670> completely 00:39:37.400 --> 00:39:37.410 align:start position:0% think about deploys like completely 00:39:37.410 --> 00:39:39.870 align:start position:0% think about deploys like completely significantly<00:39:38.410> towards<00:39:38.890> the<00:39:39.040> person<00:39:39.400> manages 00:39:39.870 --> 00:39:39.880 align:start position:0% significantly towards the person manages 00:39:39.880 --> 00:39:42.030 align:start position:0% significantly towards the person manages our<00:39:40.030> financial<00:39:40.750> system<00:39:41.080> perhaps<00:39:41.560> it's<00:39:41.890> not 00:39:42.030 --> 00:39:42.040 align:start position:0% our financial system perhaps it's not 00:39:42.040 --> 00:39:43.740 align:start position:0% our financial system perhaps it's not really<00:39:42.340> bad<00:39:42.460> at<00:39:42.580> all<00:39:42.730> but<00:39:43.000> those<00:39:43.210> that<00:39:43.480> think 00:39:43.740 --> 00:39:43.750 align:start position:0% really bad at all but those that think 00:39:43.750 --> 00:39:46.530 align:start position:0% really bad at all but those that think about<00:39:44.020> like<00:39:44.410> integration<00:39:45.100> and<00:39:45.250> converging<00:39:45.820> go 00:39:46.530 --> 00:39:46.540 align:start position:0% about like integration and converging go 00:39:46.540 --> 00:39:51.450 align:start position:0% about like integration and converging go stereos 00:39:51.450 --> 00:39:51.460 align:start position:0% 00:39:51.460 --> 00:39:57.220 align:start position:0% [Music] 00:39:57.220 --> 00:39:57.230 align:start position:0% 00:39:57.230 --> 00:40:50.530 align:start position:0% let<00:39:57.800> me<00:39:57.920> speed<00:39:58.280> out<00:39:58.430> of<00:39:58.609> it<00:40:00.609> Solutions 00:40:50.530 --> 00:40:50.540 align:start position:0% 00:40:50.540 --> 00:40:53.030 align:start position:0% it<00:40:51.540> seems<00:40:51.870> that<00:40:52.020> the<00:40:52.170> friendly<00:40:52.500> jurisdictions 00:40:53.030 --> 00:40:53.040 align:start position:0% it seems that the friendly jurisdictions 00:40:53.040 --> 00:41:23.350 align:start position:0% it seems that the friendly jurisdictions are<00:40:53.160> getting<00:40:53.400> a<00:40:53.520> little<00:40:53.670> folks 00:41:23.350 --> 00:41:23.360 align:start position:0% 00:41:23.360 --> 00:41:25.640 align:start position:0% it's<00:41:24.360> a<00:41:24.420> revelation<00:41:24.750> digest<00:41:25.350> which<00:41:25.500> is<00:41:25.620> a 00:41:25.640 --> 00:41:25.650 align:start position:0% it's a revelation digest which is a 00:41:25.650 --> 00:41:28.960 align:start position:0% it's a revelation digest which is a winning<00:41:25.920> option<00:41:26.310> here<00:41:26.580> this<00:41:27.270> is<00:41:27.510> a<00:41:27.540> nice<00:41:27.810> month 00:41:28.960 --> 00:41:28.970 align:start position:0% winning option here this is a nice month 00:41:28.970 --> 00:41:34.640 align:start position:0% winning option here this is a nice month yeah<00:41:29.970> it's<00:41:30.510> it's<00:41:31.080> it's<00:41:32.780> it's<00:41:33.780> not<00:41:34.140> a<00:41:34.380> solution 00:41:34.640 --> 00:41:34.650 align:start position:0% yeah it's it's it's it's not a solution 00:41:34.650 --> 00:41:38.030 align:start position:0% yeah it's it's it's it's not a solution in<00:41:35.280> a<00:41:35.370> way<00:41:35.610> that<00:41:36.500> this<00:41:37.500> is<00:41:37.590> not<00:41:37.710> something<00:41:38.010> that 00:41:38.030 --> 00:41:38.040 align:start position:0% in a way that this is not something that 00:41:38.040 --> 00:41:40.640 align:start position:0% in a way that this is not something that we<00:41:38.280> can<00:41:38.400> apply<00:41:38.640> right<00:41:39.320> because<00:41:40.320> we<00:41:40.500> are<00:41:40.560> not 00:41:40.640 --> 00:41:40.650 align:start position:0% we can apply right because we are not 00:41:40.650 --> 00:41:43.460 align:start position:0% we can apply right because we are not regulating<00:41:41.220> but<00:41:41.970> of<00:41:42.090> course<00:41:42.330> I<00:41:42.630> mean<00:41:42.780> one 00:41:43.460 --> 00:41:43.470 align:start position:0% regulating but of course I mean one 00:41:43.470 --> 00:41:45.950 align:start position:0% regulating but of course I mean one thing<00:41:43.740> that<00:41:44.040> is<00:41:44.550> becoming<00:41:45.360> more<00:41:45.630> and<00:41:45.840> more 00:41:45.950 --> 00:41:45.960 align:start position:0% thing that is becoming more and more 00:41:45.960 --> 00:41:48.230 align:start position:0% thing that is becoming more and more obvious<00:41:46.200> to<00:41:46.650> me<00:41:46.800> is<00:41:47.010> that<00:41:47.220> we<00:41:47.520> just<00:41:47.850> like<00:41:48.120> the 00:41:48.230 --> 00:41:48.240 align:start position:0% obvious to me is that we just like the 00:41:48.240 --> 00:41:50.510 align:start position:0% obvious to me is that we just like the define<00:41:48.660> movement<00:41:49.110> need<00:41:49.290> to<00:41:49.500> like<00:41:49.980> engage<00:41:50.370> in 00:41:50.510 --> 00:41:50.520 align:start position:0% define movement need to like engage in 00:41:50.520 --> 00:41:54.410 align:start position:0% define movement need to like engage in this<00:41:50.640> relator<00:41:50.970> discussions<00:41:52.880> right<00:41:53.880> now<00:41:53.940> it 00:41:54.410 --> 00:41:54.420 align:start position:0% this relator discussions right now it 00:41:54.420 --> 00:41:56.230 align:start position:0% this relator discussions right now it seems<00:41:54.660> that<00:41:54.720> certain<00:41:55.020> momentum<00:41:55.740> is<00:41:55.860> building 00:41:56.230 --> 00:41:56.240 align:start position:0% seems that certain momentum is building 00:41:56.240 --> 00:41:59.150 align:start position:0% seems that certain momentum is building especially<00:41:57.240> in<00:41:57.420> the<00:41:57.630> state<00:41:58.290> comes<00:41:58.590> face<00:41:58.830> with 00:41:59.150 --> 00:41:59.160 align:start position:0% especially in the state comes face with 00:41:59.160 --> 00:42:01.820 align:start position:0% especially in the state comes face with libera<00:41:59.700> from<00:41:59.940> cheek<00:42:00.150> and<00:42:00.600> we<00:42:01.320> need<00:42:01.440> to<00:42:01.590> build 00:42:01.820 --> 00:42:01.830 align:start position:0% libera from cheek and we need to build 00:42:01.830 --> 00:42:03.560 align:start position:0% libera from cheek and we need to build this<00:42:02.010> awareness<00:42:02.370> right<00:42:02.790> how<00:42:03.060> the<00:42:03.360> fact 00:42:03.560 --> 00:42:03.570 align:start position:0% this awareness right how the fact 00:42:03.570 --> 00:42:05.360 align:start position:0% this awareness right how the fact projects<00:42:03.930> are<00:42:04.110> different<00:42:04.290> from<00:42:04.800> all<00:42:05.100> the 00:42:05.360 --> 00:42:05.370 align:start position:0% projects are different from all the 00:42:05.370 --> 00:42:09.620 align:start position:0% projects are different from all the other<00:42:06.500> my<00:42:07.500> also<00:42:07.950> a<00:42:07.980> function<00:42:08.490> like<00:42:09.150> krypter 00:42:09.620 --> 00:42:09.630 align:start position:0% other my also a function like krypter 00:42:09.630 --> 00:42:14.270 align:start position:0% other my also a function like krypter krypter<00:42:09.840> space<00:42:10.350> get<00:42:10.650> there<00:42:12.080> so<00:42:13.080> yeah<00:42:13.200> so<00:42:13.950> cute 00:42:14.270 --> 00:42:14.280 align:start position:0% krypter space get there so yeah so cute 00:42:14.280 --> 00:42:16.760 align:start position:0% krypter space get there so yeah so cute I<00:42:14.460> think<00:42:14.850> that<00:42:15.090> majority<00:42:15.450> of<00:42:15.690> us<00:42:16.140> is<00:42:16.470> saying 00:42:16.760 --> 00:42:16.770 align:start position:0% I think that majority of us is saying 00:42:16.770 --> 00:42:20.060 align:start position:0% I think that majority of us is saying that<00:42:17.100> change<00:42:18.060> the<00:42:18.300> law<00:42:18.480> of<00:42:18.740> Revelation<00:42:19.740> ages 00:42:20.060 --> 00:42:20.070 align:start position:0% that change the law of Revelation ages 00:42:20.070 --> 00:42:22.040 align:start position:0% that change the law of Revelation ages which<00:42:20.250> is<00:42:20.370> convinced<00:42:20.910> regulators<00:42:21.480> allotment 00:42:22.040 --> 00:42:22.050 align:start position:0% which is convinced regulators allotment 00:42:22.050 --> 00:42:24.650 align:start position:0% which is convinced regulators allotment wish<00:42:22.260> to<00:42:22.530> regulate<00:42:23.310> all<00:42:23.430> ages<00:42:23.760> and<00:42:23.970> some 00:42:24.650 --> 00:42:24.660 align:start position:0% wish to regulate all ages and some 00:42:24.660 --> 00:42:26.720 align:start position:0% wish to regulate all ages and some facilities<00:42:25.410> have<00:42:25.560> convinced<00:42:26.100> them<00:42:26.250> to<00:42:26.520> build 00:42:26.720 --> 00:42:26.730 align:start position:0% facilities have convinced them to build 00:42:26.730 --> 00:42:28.540 align:start position:0% facilities have convinced them to build some<00:42:26.910> boxes<00:42:27.300> is<00:42:27.510> the<00:42:27.660> winning<00:42:27.960> option<00:42:28.290> and 00:42:28.540 --> 00:42:28.550 align:start position:0% some boxes is the winning option and 00:42:28.550 --> 00:42:30.710 align:start position:0% some boxes is the winning option and that's<00:42:29.550> that<00:42:29.910> something<00:42:30.180> I<00:42:30.270> agree<00:42:30.390> with 00:42:30.710 --> 00:42:30.720 align:start position:0% that's that something I agree with 00:42:30.720 --> 00:42:34.040 align:start position:0% that's that something I agree with in<00:42:30.930> a<00:42:30.990> way<00:42:31.140> that<00:42:31.440> I<00:42:31.790> I<00:42:32.790> think<00:42:33.330> that's<00:42:33.720> that's 00:42:34.040 --> 00:42:34.050 align:start position:0% in a way that I I think that's that's 00:42:34.050 --> 00:42:35.840 align:start position:0% in a way that I I think that's that's what<00:42:34.260> we<00:42:34.380> need<00:42:34.500> to<00:42:34.590> do<00:42:34.710> right<00:42:34.950> just<00:42:35.400> just<00:42:35.670> to 00:42:35.840 --> 00:42:35.850 align:start position:0% what we need to do right just just to 00:42:35.850 --> 00:42:40.850 align:start position:0% what we need to do right just just to just<00:42:36.330> me<00:42:36.480> try<00:42:37.440> to<00:42:38.930> be<00:42:39.930> but<00:42:40.080> without<00:42:40.560> the<00:42:40.710> voice 00:42:40.850 --> 00:42:40.860 align:start position:0% just me try to be but without the voice 00:42:40.860 --> 00:42:44.090 align:start position:0% just me try to be but without the voice right<00:42:41.160> right<00:42:41.640> right 00:42:44.090 --> 00:42:44.100 align:start position:0% 00:42:44.100 --> 00:42:47.420 align:start position:0% next<00:42:44.550> problem<00:42:44.810> which<00:42:45.810> is<00:42:46.020> which<00:42:46.440> is<00:42:46.470> very 00:42:47.420 --> 00:42:47.430 align:start position:0% next problem which is which is very 00:42:47.430 --> 00:42:51.440 align:start position:0% next problem which is which is very simple<00:42:48.710> define<00:42:49.710> is<00:42:49.980> global<00:42:50.370> right<00:42:50.880> this<00:42:51.240> is 00:42:51.440 --> 00:42:51.450 align:start position:0% simple define is global right this is 00:42:51.450 --> 00:42:53.080 align:start position:0% simple define is global right this is like<00:42:51.660> by<00:42:51.870> again<00:42:52.440> by<00:42:52.590> our<00:42:52.620> definition 00:42:53.080 --> 00:42:53.090 align:start position:0% like by again by our definition 00:42:53.090 --> 00:42:56.810 align:start position:0% like by again by our definition something<00:42:54.090> that<00:42:54.500> like<00:42:55.500> you<00:42:55.650> know<00:42:55.770> people<00:42:56.520> can 00:42:56.810 --> 00:42:56.820 align:start position:0% something that like you know people can 00:42:56.820 --> 00:43:01.910 align:start position:0% something that like you know people can use<00:42:57.000> like<00:42:57.950> whenever<00:42:58.970> whenever<00:42:59.970> in<00:43:00.270> tourism 00:43:01.910 --> 00:43:01.920 align:start position:0% use like whenever whenever in tourism 00:43:01.920 --> 00:43:04.280 align:start position:0% use like whenever whenever in tourism yes<00:43:02.280> revolutions<00:43:02.850> walk<00:43:03.090> right<00:43:03.630> like<00:43:04.020> you<00:43:04.170> are 00:43:04.280 --> 00:43:04.290 align:start position:0% yes revolutions walk right like you are 00:43:04.290 --> 00:43:06.860 align:start position:0% yes revolutions walk right like you are facing<00:43:04.530> sometimes<00:43:05.510> completely<00:43:06.510> different 00:43:06.860 --> 00:43:06.870 align:start position:0% facing sometimes completely different 00:43:06.870 --> 00:43:08.570 align:start position:0% facing sometimes completely different problems<00:43:07.290> in<00:43:07.470> Inventor<00:43:07.980> addiction<00:43:08.400> sometimes 00:43:08.570 --> 00:43:08.580 align:start position:0% problems in Inventor addiction sometimes 00:43:08.580 --> 00:43:11.180 align:start position:0% problems in Inventor addiction sometimes totally<00:43:09.390> different<00:43:09.780> yet<00:43:10.080> these<00:43:10.590> details<00:43:10.800> are 00:43:11.180 --> 00:43:11.190 align:start position:0% totally different yet these details are 00:43:11.190 --> 00:43:15.710 align:start position:0% totally different yet these details are of<00:43:11.970> utmost<00:43:12.630> importance<00:43:13.350> and<00:43:13.590> I<00:43:14.370> have<00:43:14.610> now<00:43:15.450> it's 00:43:15.710 --> 00:43:15.720 align:start position:0% of utmost importance and I have now it's 00:43:15.720 --> 00:43:17.480 align:start position:0% of utmost importance and I have now it's not<00:43:15.930> an<00:43:16.110> example<00:43:16.410> it's<00:43:16.680> a<00:43:16.740> catcher<00:43:16.950> example 00:43:17.480 --> 00:43:17.490 align:start position:0% not an example it's a catcher example 00:43:17.490 --> 00:43:19.250 align:start position:0% not an example it's a catcher example and<00:43:17.970> because<00:43:18.240> that's<00:43:18.450> that's<00:43:18.810> what<00:43:19.080> you're 00:43:19.250 --> 00:43:19.260 align:start position:0% and because that's that's what you're 00:43:19.260 --> 00:43:22.460 align:start position:0% and because that's that's what you're saying<00:43:19.740> as<00:43:19.860> well<00:43:20.070> we<00:43:20.370> you<00:43:21.090> know<00:43:21.240> we<00:43:22.200> are<00:43:22.320> facing 00:43:22.460 --> 00:43:22.470 align:start position:0% saying as well we you know we are facing 00:43:22.470 --> 00:43:24.290 align:start position:0% saying as well we you know we are facing this<00:43:22.740> problem<00:43:22.800> as<00:43:23.220> well<00:43:23.250> right<00:43:23.730> the<00:43:23.880> diamond 00:43:24.290 --> 00:43:24.300 align:start position:0% this problem as well right the diamond 00:43:24.300 --> 00:43:25.220 align:start position:0% this problem as well right the diamond might 00:43:25.220 --> 00:43:25.230 align:start position:0% might 00:43:25.230 --> 00:43:27.110 align:start position:0% might that's<00:43:25.710> right<00:43:25.890> now<00:43:26.010> I<00:43:26.040> play<00:43:26.400> I'm<00:43:26.700> wearing<00:43:26.970> my 00:43:27.110 --> 00:43:27.120 align:start position:0% that's right now I play I'm wearing my 00:43:27.120 --> 00:43:30.020 align:start position:0% that's right now I play I'm wearing my maker<00:43:28.050> it<00:43:28.230> isn't<00:43:28.500> that<00:43:29.250> I<00:43:29.280> might<00:43:29.490> be<00:43:29.640> treated 00:43:30.020 --> 00:43:30.030 align:start position:0% maker it isn't that I might be treated 00:43:30.030 --> 00:43:31.790 align:start position:0% maker it isn't that I might be treated in<00:43:30.150> many<00:43:30.330> countries<00:43:30.540> different<00:43:31.080> right<00:43:31.500> as 00:43:31.790 --> 00:43:31.800 align:start position:0% in many countries different right as 00:43:31.800 --> 00:43:35.720 align:start position:0% in many countries different right as like<00:43:33.200> money<00:43:34.200> is<00:43:34.350> a<00:43:34.440> financial<00:43:34.980> instrument<00:43:35.220> as 00:43:35.720 --> 00:43:35.730 align:start position:0% like money is a financial instrument as 00:43:35.730 --> 00:43:37.580 align:start position:0% like money is a financial instrument as something<00:43:36.360> else<00:43:36.570> right<00:43:36.930> depending<00:43:37.230> on<00:43:37.470> the 00:43:37.580 --> 00:43:37.590 align:start position:0% something else right depending on the 00:43:37.590 --> 00:43:39.860 align:start position:0% something else right depending on the local<00:43:37.800> boss<00:43:38.100> yet<00:43:38.970> we<00:43:39.120> are<00:43:39.240> trying<00:43:39.540> to<00:43:39.600> do<00:43:39.840> our 00:43:39.860 --> 00:43:39.870 align:start position:0% local boss yet we are trying to do our 00:43:39.870 --> 00:43:40.700 align:start position:0% local boss yet we are trying to do our best 00:43:40.700 --> 00:43:40.710 align:start position:0% best 00:43:40.710 --> 00:43:44.360 align:start position:0% best sometimes<00:43:41.670> in<00:43:41.850> realtor<00:43:42.210> day<00:43:42.390> as<00:43:42.720> well<00:43:42.930> to<00:43:43.650> to 00:43:44.360 --> 00:43:44.370 align:start position:0% sometimes in realtor day as well to to 00:43:44.370 --> 00:43:46.970 align:start position:0% sometimes in realtor day as well to to protect<00:43:44.880> this<00:43:45.120> free<00:43:45.510> status<00:43:45.810> of<00:43:46.260> digit<00:43:46.800> of 00:43:46.970 --> 00:43:46.980 align:start position:0% protect this free status of digit of 00:43:46.980 --> 00:43:48.770 align:start position:0% protect this free status of digit of digital<00:43:47.490> cash<00:43:47.700> right<00:43:47.970> of<00:43:48.180> like<00:43:48.390> a<00:43:48.420> spot 00:43:48.770 --> 00:43:48.780 align:start position:0% digital cash right of like a spot 00:43:48.780 --> 00:43:50.930 align:start position:0% digital cash right of like a spot instrument<00:43:49.350> that<00:43:49.440> is<00:43:49.590> not<00:43:49.800> regulated<00:43:50.280> it's 00:43:50.930 --> 00:43:50.940 align:start position:0% instrument that is not regulated it's 00:43:50.940 --> 00:43:53.450 align:start position:0% instrument that is not regulated it's just<00:43:51.360> not<00:43:51.510> a<00:43:51.540> regulated<00:43:51.900> instrument<00:43:52.470> so<00:43:53.250> far 00:43:53.450 --> 00:43:53.460 align:start position:0% just not a regulated instrument so far 00:43:53.460 --> 00:43:57.140 align:start position:0% just not a regulated instrument so far we<00:43:53.580> are<00:43:53.610> going<00:43:54.830> job<00:43:55.830> here<00:43:56.100> but<00:43:56.670> you<00:43:56.880> know<00:43:56.970> the 00:43:57.140 --> 00:43:57.150 align:start position:0% we are going job here but you know the 00:43:57.150 --> 00:43:58.910 align:start position:0% we are going job here but you know the problem<00:43:57.300> remains<00:43:57.840> right<00:43:58.230> that<00:43:58.440> this<00:43:58.620> this 00:43:58.910 --> 00:43:58.920 align:start position:0% problem remains right that this this 00:43:58.920 --> 00:44:00.650 align:start position:0% problem remains right that this this product<00:43:59.340> services<00:43:59.850> might<00:44:00.060> be<00:44:00.090> regulated 00:44:00.650 --> 00:44:00.660 align:start position:0% product services might be regulated 00:44:00.660 --> 00:44:02.750 align:start position:0% product services might be regulated differently<00:44:00.810> and<00:44:01.410> it's<00:44:01.860> difficult<00:44:02.250> for<00:44:02.460> us<00:44:02.580> to 00:44:02.750 --> 00:44:02.760 align:start position:0% differently and it's difficult for us to 00:44:02.760 --> 00:44:04.970 align:start position:0% differently and it's difficult for us to respond<00:44:03.390> to<00:44:03.510> that<00:44:03.660> right<00:44:04.140> because<00:44:04.620> you<00:44:04.920> know 00:44:04.970 --> 00:44:04.980 align:start position:0% respond to that right because you know 00:44:04.980 --> 00:44:08.740 align:start position:0% respond to that right because you know we<00:44:05.160> are<00:44:05.250> doing<00:44:05.400> something<00:44:05.760> that<00:44:05.880> is<00:44:06.180> is<00:44:06.360> global 00:44:08.740 --> 00:44:08.750 align:start position:0% 00:44:08.750 --> 00:44:24.099 align:start position:0% digital<00:44:09.750> scales<00:44:10.260> problem 00:44:24.099 --> 00:44:24.109 align:start position:0% 00:44:24.109 --> 00:44:26.799 align:start position:0% and<00:44:24.890> by<00:44:25.039> the<00:44:25.099> way<00:44:25.160> this<00:44:25.430> data<00:44:25.729> I'm<00:44:26.119> gonna<00:44:26.539> shirt 00:44:26.799 --> 00:44:26.809 align:start position:0% and by the way this data I'm gonna shirt 00:44:26.809 --> 00:44:28.509 align:start position:0% and by the way this data I'm gonna shirt of<00:44:27.109> course 00:44:28.509 --> 00:44:28.519 align:start position:0% of course 00:44:28.519 --> 00:44:31.479 align:start position:0% of course but<00:44:29.299> I<00:44:29.329> hope<00:44:29.569> that<00:44:29.690> that<00:44:29.809> is<00:44:30.079> -<00:44:30.469> this<00:44:30.979> is<00:44:31.249> giving 00:44:31.479 --> 00:44:31.489 align:start position:0% but I hope that that is - this is giving 00:44:31.489 --> 00:44:33.489 align:start position:0% but I hope that that is - this is giving the<00:44:31.549> option<00:44:31.670> to<00:44:31.999> go<00:44:32.329> save<00:44:32.599> all<00:44:32.809> this<00:44:33.079> of<00:44:33.289> course 00:44:33.489 --> 00:44:33.499 align:start position:0% the option to go save all this of course 00:44:33.499 --> 00:44:36.729 align:start position:0% the option to go save all this of course all<00:44:33.769> this<00:44:33.979> is<00:44:34.039> in<00:44:34.519> my<00:44:34.579> name<00:44:34.849> is<00:44:34.969> right<00:44:35.239> but<00:44:35.739> it's 00:44:36.729 --> 00:44:36.739 align:start position:0% all this is in my name is right but it's 00:44:36.739 --> 00:44:38.109 align:start position:0% all this is in my name is right but it's gonna<00:44:36.920> be<00:44:37.160> very<00:44:37.309> useful<00:44:37.430> I<00:44:37.849> think<00:44:37.880> an 00:44:38.109 --> 00:44:38.119 align:start position:0% gonna be very useful I think an 00:44:38.119 --> 00:44:39.969 align:start position:0% gonna be very useful I think an interesting<00:44:38.420> to<00:44:38.869> see<00:44:39.049> this<00:44:39.170> disaggregated 00:44:39.969 --> 00:44:39.979 align:start position:0% interesting to see this disaggregated 00:44:39.979 --> 00:44:41.589 align:start position:0% interesting to see this disaggregated data<00:44:40.069> and<00:44:40.609> presented<00:44:41.150> to<00:44:41.239> the<00:44:41.269> wider 00:44:41.589 --> 00:44:41.599 align:start position:0% data and presented to the wider 00:44:41.599 --> 00:44:47.199 align:start position:0% data and presented to the wider community<00:44:42.940> yes<00:44:44.349> so<00:44:45.349> you<00:44:46.069> know<00:44:46.190> why<00:44:46.789> it<00:44:46.849> sounds 00:44:47.199 --> 00:44:47.209 align:start position:0% community yes so you know why it sounds 00:44:47.209 --> 00:44:48.579 align:start position:0% community yes so you know why it sounds like<00:44:47.359> yes<00:44:47.569> it<00:44:47.749> might<00:44:47.869> be<00:44:47.930> a<00:44:48.079> problem<00:44:48.410> but<00:44:48.469> it 00:44:48.579 --> 00:44:48.589 align:start position:0% like yes it might be a problem but it 00:44:48.589 --> 00:44:50.140 align:start position:0% like yes it might be a problem but it also<00:44:48.709> sounds<00:44:49.009> like<00:44:49.160> it<00:44:49.369> could<00:44:49.489> be<00:44:49.640> a<00:44:49.880> way<00:44:50.119> to 00:44:50.140 --> 00:44:50.150 align:start position:0% also sounds like it could be a way to 00:44:50.150 --> 00:44:52.509 align:start position:0% also sounds like it could be a way to print<00:44:50.450> the<00:44:50.569> solution<00:44:50.989> like<00:44:51.589> other<00:44:52.009> people's 00:44:52.509 --> 00:44:52.519 align:start position:0% print the solution like other people's 00:44:52.519 --> 00:44:58.299 align:start position:0% print the solution like other people's standards<00:44:52.819> around<00:44:53.269> the<00:44:56.170> financial<00:44:57.170> the<00:44:57.769> big 00:44:58.299 --> 00:44:58.309 align:start position:0% standards around the financial the big 00:44:58.309 --> 00:45:02.289 align:start position:0% standards around the financial the big things<00:45:00.099> is<00:45:01.099> that<00:45:01.190> you<00:45:01.670> know<00:45:01.849> the<00:45:02.029> current 00:45:02.289 --> 00:45:02.299 align:start position:0% things is that you know the current 00:45:02.299 --> 00:45:04.449 align:start position:0% things is that you know the current state<00:45:02.539> of<00:45:02.599> any<00:45:03.259> label<00:45:03.589> the<00:45:03.709> standards<00:45:04.190> around 00:45:04.449 --> 00:45:04.459 align:start position:0% state of any label the standards around 00:45:04.459 --> 00:45:11.309 align:start position:0% state of any label the standards around if<00:45:05.329> you're<00:45:05.420> like<00:45:05.569> most<00:45:06.430> probably<00:45:07.430> things<00:45:10.119> yeah 00:45:11.309 --> 00:45:11.319 align:start position:0% if you're like most probably things yeah 00:45:11.319 --> 00:45:15.660 align:start position:0% if you're like most probably things yeah just<00:45:12.319> because<00:45:13.359> there<00:45:14.359> is<00:45:14.569> even<00:45:15.019> just<00:45:15.200> between 00:45:15.660 --> 00:45:15.670 align:start position:0% just because there is even just between 00:45:15.670 --> 00:45:23.349 align:start position:0% just because there is even just between China<00:45:16.670> and<00:45:19.749> Southeast<00:45:20.749> Asia<00:45:21.380> so<00:45:21.680> many<00:45:22.029> why<00:45:23.029> did 00:45:23.349 --> 00:45:23.359 align:start position:0% China and Southeast Asia so many why did 00:45:23.359 --> 00:45:24.950 align:start position:0% China and Southeast Asia so many why did it 00:45:24.950 --> 00:45:24.960 align:start position:0% it 00:45:24.960 --> 00:45:28.920 align:start position:0% it entire<00:45:25.960> structure<00:45:26.530> where<00:45:27.270> we<00:45:28.270> need<00:45:28.480> YouTube 00:45:28.920 --> 00:45:28.930 align:start position:0% entire structure where we need YouTube 00:45:28.930 --> 00:45:30.599 align:start position:0% entire structure where we need YouTube for<00:45:29.109> example<00:45:29.170> on<00:45:29.680> Netflix<00:45:30.040> all<00:45:30.220> have<00:45:30.490> to 00:45:30.599 --> 00:45:30.609 align:start position:0% for example on Netflix all have to 00:45:30.609 --> 00:45:32.339 align:start position:0% for example on Netflix all have to complete<00:45:31.030> a<00:45:31.180> background<00:45:31.599> the<00:45:32.050> way<00:45:32.170> they 00:45:32.339 --> 00:45:32.349 align:start position:0% complete a background the way they 00:45:32.349 --> 00:45:36.240 align:start position:0% complete a background the way they contribute<00:45:33.310> for<00:45:33.609> more<00:45:34.500> evenly<00:45:35.500> like<00:45:35.680> watching 00:45:36.240 --> 00:45:36.250 align:start position:0% contribute for more evenly like watching 00:45:36.250 --> 00:45:40.380 align:start position:0% contribute for more evenly like watching 55<00:45:36.940> will<00:45:37.930> be<00:45:38.079> about<00:45:38.550> victim<00:45:39.579> interesting 00:45:40.380 --> 00:45:40.390 align:start position:0% 55 will be about victim interesting 00:45:40.390 --> 00:45:43.640 align:start position:0% 55 will be about victim interesting people<00:45:40.630> like<00:45:40.839> Rihanna 00:45:43.640 --> 00:45:43.650 align:start position:0% people like Rihanna 00:45:43.650 --> 00:45:47.010 align:start position:0% people like Rihanna financially<00:45:44.650> this<00:45:45.339> well<00:45:46.270> actually<00:45:46.420> I<00:45:46.570> devoted 00:45:47.010 --> 00:45:47.020 align:start position:0% financially this well actually I devoted 00:45:47.020 --> 00:45:50.790 align:start position:0% financially this well actually I devoted my<00:45:47.829> talking<00:45:48.339> to<00:45:48.460> defy<00:45:48.790> summit<00:45:49.180> in<00:45:49.300> London<00:45:49.800> last 00:45:50.790 --> 00:45:50.800 align:start position:0% my talking to defy summit in London last 00:45:50.800 --> 00:45:51.300 align:start position:0% my talking to defy summit in London last month 00:45:51.300 --> 00:45:51.310 align:start position:0% month 00:45:51.310 --> 00:45:53.790 align:start position:0% month exactly<00:45:51.790> topic<00:45:52.150> by<00:45:52.510> 30<00:45:52.900> minutes<00:45:53.109> exactly<00:45:53.470> do 00:45:53.790 --> 00:45:53.800 align:start position:0% exactly topic by 30 minutes exactly do 00:45:53.800 --> 00:45:58.050 align:start position:0% exactly topic by 30 minutes exactly do that<00:45:53.980> so<00:45:54.220> encourage<00:45:54.760> everyone<00:45:55.000> to<00:45:56.910> this<00:45:57.910> is 00:45:58.050 --> 00:45:58.060 align:start position:0% that so encourage everyone to this is 00:45:58.060 --> 00:46:00.270 align:start position:0% that so encourage everyone to this is also<00:45:58.240> interesting<00:45:58.420> because<00:45:58.990> sometimes<00:45:59.680> it's 00:46:00.270 --> 00:46:00.280 align:start position:0% also interesting because sometimes it's 00:46:00.280 --> 00:46:02.670 align:start position:0% also interesting because sometimes it's just<00:46:00.730> you<00:46:00.970> know<00:46:01.089> people<00:46:01.300> are<00:46:01.570> just<00:46:01.720> saying<00:46:02.020> hey 00:46:02.670 --> 00:46:02.680 align:start position:0% just you know people are just saying hey 00:46:02.680 --> 00:46:04.380 align:start position:0% just you know people are just saying hey we<00:46:02.890> are<00:46:02.980> not<00:46:03.130> we<00:46:03.520> are<00:46:03.550> not<00:46:03.640> available<00:46:04.210> or 00:46:04.380 --> 00:46:04.390 align:start position:0% we are not we are not available or 00:46:04.390 --> 00:46:06.120 align:start position:0% we are not we are not available or operating<00:46:04.810> in<00:46:04.930> any<00:46:05.079> specific<00:46:05.320> country<00:46:05.680> we<00:46:06.070> are 00:46:06.120 --> 00:46:06.130 align:start position:0% operating in any specific country we are 00:46:06.130 --> 00:46:07.950 align:start position:0% operating in any specific country we are every<00:46:06.339> move<00:46:06.520> globally<00:46:06.940> but<00:46:07.359> that<00:46:07.630> means<00:46:07.839> that 00:46:07.950 --> 00:46:07.960 align:start position:0% every move globally but that means that 00:46:07.960 --> 00:46:10.650 align:start position:0% every move globally but that means that no<00:46:08.470> specific<00:46:08.770> laws<00:46:09.220> of<00:46:09.430> my<00:46:09.609> right<00:46:10.210> because<00:46:10.450> we 00:46:10.650 --> 00:46:10.660 align:start position:0% no specific laws of my right because we 00:46:10.660 --> 00:46:12.420 align:start position:0% no specific laws of my right because we are<00:46:10.690> not<00:46:10.839> present<00:46:11.320> specifically<00:46:11.920> any<00:46:12.040> country 00:46:12.420 --> 00:46:12.430 align:start position:0% are not present specifically any country 00:46:12.430 --> 00:46:15.660 align:start position:0% are not present specifically any country so<00:46:13.060> that<00:46:13.089> firms<00:46:13.540> some<00:46:13.859> sums<00:46:14.859> that<00:46:15.490> this 00:46:15.660 --> 00:46:15.670 align:start position:0% so that firms some sums that this 00:46:15.670 --> 00:46:18.510 align:start position:0% so that firms some sums that this strategy<00:46:15.940> for<00:46:16.510> some<00:46:17.170> people<00:46:17.440> is<00:46:17.560> but<00:46:17.740> right 00:46:18.510 --> 00:46:18.520 align:start position:0% strategy for some people is but right 00:46:18.520 --> 00:46:32.720 align:start position:0% strategy for some people is but right how<00:46:18.700> are<00:46:18.730> all<00:46:18.940> about<00:46:19.150> is<00:46:19.300> that<00:46:19.540> for<00:46:19.930> yogurt 00:46:32.720 --> 00:46:32.730 align:start position:0% 00:46:32.730 --> 00:46:35.359 align:start position:0% so<00:46:33.420> really<00:46:33.960> related<00:46:34.680> to<00:46:34.710> the<00:46:34.890> question<00:46:35.250> about 00:46:35.359 --> 00:46:35.369 align:start position:0% so really related to the question about 00:46:35.369 --> 00:46:38.300 align:start position:0% so really related to the question about like<00:46:36.119> global<00:46:36.570> compliance<00:46:37.320> standards<00:46:37.800> and<00:46:38.070> who 00:46:38.300 --> 00:46:38.310 align:start position:0% like global compliance standards and who 00:46:38.310 --> 00:46:42.410 align:start position:0% like global compliance standards and who would<00:46:38.490> be<00:46:38.730> the<00:46:40.790> multinational<00:46:41.790> regulatory 00:46:42.410 --> 00:46:42.420 align:start position:0% would be the multinational regulatory 00:46:42.420 --> 00:46:46.160 align:start position:0% would be the multinational regulatory bodies<00:46:42.839> who<00:46:43.020> watch<00:46:44.300> there's<00:46:45.300> there's<00:46:45.780> nothing 00:46:46.160 --> 00:46:46.170 align:start position:0% bodies who watch there's there's nothing 00:46:46.170 --> 00:46:48.230 align:start position:0% bodies who watch there's there's nothing like<00:46:46.380> that<00:46:46.589> but<00:46:46.950> there<00:46:47.250> there's<00:46:47.790> something 00:46:48.230 --> 00:46:48.240 align:start position:0% like that but there there's something 00:46:48.240 --> 00:46:50.990 align:start position:0% like that but there there's something political<00:46:48.720> understanding<00:46:49.320> bodies<00:46:50.070> which<00:46:50.849> are 00:46:50.990 --> 00:46:51.000 align:start position:0% political understanding bodies which are 00:46:51.000 --> 00:46:52.670 align:start position:0% political understanding bodies which are not<00:46:51.180> the<00:46:51.390> surya<00:46:51.720> regulators<00:46:52.260> in<00:46:52.500> terms 00:46:52.670 --> 00:46:52.680 align:start position:0% not the surya regulators in terms 00:46:52.680 --> 00:46:55.490 align:start position:0% not the surya regulators in terms they're<00:46:52.920> not<00:46:53.160> able<00:46:53.339> to<00:46:53.490> adult<00:46:53.910> by<00:46:54.599> equals<00:46:54.990> but 00:46:55.490 --> 00:46:55.500 align:start position:0% they're not able to adult by equals but 00:46:55.500 --> 00:46:57.079 align:start position:0% they're not able to adult by equals but there<00:46:55.770> are<00:46:55.859> developing<00:46:56.250> center<00:46:56.579> standards 00:46:57.079 --> 00:46:57.089 align:start position:0% there are developing center standards 00:46:57.089 --> 00:46:58.700 align:start position:0% there are developing center standards and<00:46:57.450> encouraging<00:46:58.020> others<00:46:58.290> that<00:46:58.500> don't 00:46:58.700 --> 00:46:58.710 align:start position:0% and encouraging others that don't 00:46:58.710 --> 00:47:03.579 align:start position:0% and encouraging others that don't generate<00:46:59.099> it's<00:46:59.460> not<00:46:59.579> like<00:46:59.700> i<00:46:59.820> enough<00:47:00.619> it's 00:47:03.579 --> 00:47:03.589 align:start position:0% generate it's not like i enough it's 00:47:03.589 --> 00:47:07.579 align:start position:0% generate it's not like i enough it's right<00:47:05.910> I've<00:47:06.240> been<00:47:06.390> a<00:47:06.690> more<00:47:06.960> space 00:47:07.579 --> 00:47:07.589 align:start position:0% right I've been a more space 00:47:07.589 --> 00:47:11.210 align:start position:0% right I've been a more space there's<00:47:07.800> IOSCO<00:47:08.250> in<00:47:09.619> securities<00:47:10.619> security 00:47:11.210 --> 00:47:11.220 align:start position:0% there's IOSCO in securities security 00:47:11.220 --> 00:47:13.040 align:start position:0% there's IOSCO in securities security space<00:47:11.460> and<00:47:11.910> a<00:47:11.970> few<00:47:12.180> others<00:47:12.450> right<00:47:12.750> and<00:47:12.930> they 00:47:13.040 --> 00:47:13.050 align:start position:0% space and a few others right and they 00:47:13.050 --> 00:47:15.530 align:start position:0% space and a few others right and they are<00:47:13.200> like<00:47:13.470> think<00:47:13.770> tanks<00:47:14.160> that<00:47:14.220> are<00:47:14.510> yeah<00:47:15.510> I 00:47:15.530 --> 00:47:15.540 align:start position:0% are like think tanks that are yeah I 00:47:15.540 --> 00:47:17.540 align:start position:0% are like think tanks that are yeah I mean<00:47:15.839> you<00:47:16.200> know<00:47:16.260> actual<00:47:16.829> regulators<00:47:17.339> are 00:47:17.540 --> 00:47:17.550 align:start position:0% mean you know actual regulators are 00:47:17.550 --> 00:47:19.099 align:start position:0% mean you know actual regulators are Pacific<00:47:18.060> countries<00:47:18.420> are<00:47:18.570> participating<00:47:18.660> in 00:47:19.099 --> 00:47:19.109 align:start position:0% Pacific countries are participating in 00:47:19.109 --> 00:47:20.510 align:start position:0% Pacific countries are participating in these<00:47:19.170> bodies<00:47:19.380> right<00:47:19.710> so<00:47:19.859> they're<00:47:20.130> not<00:47:20.310> like 00:47:20.510 --> 00:47:20.520 align:start position:0% these bodies right so they're not like 00:47:20.520 --> 00:47:23.960 align:start position:0% these bodies right so they're not like just<00:47:20.880> think<00:47:21.180> things<00:47:21.920> and<00:47:22.920> they<00:47:23.369> are<00:47:23.640> like 00:47:23.960 --> 00:47:23.970 align:start position:0% just think things and they are like 00:47:23.970 --> 00:47:28.480 align:start position:0% just think things and they are like example<00:47:24.900> shows<00:47:25.560> their<00:47:25.890> exchange<00:47:26.310> rod<00:47:26.579> yeah 00:47:28.480 --> 00:47:28.490 align:start position:0% example shows their exchange rod yeah 00:47:28.490 --> 00:47:31.520 align:start position:0% example shows their exchange rod yeah how<00:47:29.490> relevant<00:47:29.760> is<00:47:30.030> or<00:47:30.390> is<00:47:30.780> it<00:47:30.960> for<00:47:31.230> two<00:47:31.410> entire 00:47:31.520 --> 00:47:31.530 align:start position:0% how relevant is or is it for two entire 00:47:31.530 --> 00:47:48.240 align:start position:0% how relevant is or is it for two entire different<00:47:32.160> specs 00:47:48.240 --> 00:47:48.250 align:start position:0% 00:47:48.250 --> 00:47:50.550 align:start position:0% quite<00:47:48.849> good<00:47:49.090> and<00:47:49.270> then<00:47:49.720> I<00:47:49.750> said<00:47:49.990> this<00:47:50.020> is<00:47:50.290> this 00:47:50.550 --> 00:47:50.560 align:start position:0% quite good and then I said this is this 00:47:50.560 --> 00:47:52.830 align:start position:0% quite good and then I said this is this is<00:47:50.740> you<00:47:50.920> know<00:47:51.070> the<00:47:51.880> current<00:47:52.210> state<00:47:52.450> atleast 00:47:52.830 --> 00:47:52.840 align:start position:0% is you know the current state atleast 00:47:52.840 --> 00:47:54.120 align:start position:0% is you know the current state atleast it's<00:47:53.050> nothing<00:47:53.349> so<00:47:53.530> me<00:47:53.680> like<00:47:53.800> a<00:47:53.830> bad<00:47:54.099> thing 00:47:54.120 --> 00:47:54.130 align:start position:0% it's nothing so me like a bad thing 00:47:54.130 --> 00:47:58.410 align:start position:0% it's nothing so me like a bad thing right<00:47:54.730> although<00:47:55.180> always<00:47:56.880> so<00:47:57.880> it's<00:47:58.150> like<00:47:58.390> a 00:47:58.410 --> 00:47:58.420 align:start position:0% right although always so it's like a 00:47:58.420 --> 00:48:00.960 align:start position:0% right although always so it's like a certain<00:47:58.900> legal<00:47:59.170> issue<00:47:59.470> that<00:48:00.040> is<00:48:00.790> really 00:48:00.960 --> 00:48:00.970 align:start position:0% certain legal issue that is really 00:48:00.970 --> 00:48:03.420 align:start position:0% certain legal issue that is really problem<00:48:01.710> right<00:48:02.710> so<00:48:02.890> what's<00:48:03.070> the<00:48:03.220> best 00:48:03.420 --> 00:48:03.430 align:start position:0% problem right so what's the best 00:48:03.430 --> 00:48:21.590 align:start position:0% problem right so what's the best solution 00:48:21.590 --> 00:48:21.600 align:start position:0% 00:48:21.600 --> 00:48:29.900 align:start position:0% [Music] 00:48:29.900 --> 00:48:29.910 align:start position:0% 00:48:29.910 --> 00:48:40.200 align:start position:0% [Music] 00:48:40.200 --> 00:48:40.210 align:start position:0% 00:48:40.210 --> 00:49:11.230 align:start position:0% [Music] 00:49:11.230 --> 00:49:11.240 align:start position:0% 00:49:11.240 --> 00:49:13.630 align:start position:0% yeah<00:49:11.810> the<00:49:12.080> display<00:49:12.500> initially<00:49:12.950> that<00:49:13.220> it's<00:49:13.400> not 00:49:13.630 --> 00:49:13.640 align:start position:0% yeah the display initially that it's not 00:49:13.640 --> 00:49:21.310 align:start position:0% yeah the display initially that it's not necessarily<00:49:14.180> probably<00:49:19.839> global<00:49:20.839> standards 00:49:21.310 --> 00:49:21.320 align:start position:0% necessarily probably global standards 00:49:21.320 --> 00:49:24.160 align:start position:0% necessarily probably global standards yes<00:49:21.770> definitely<00:49:22.580> definitely<00:49:23.330> interesting 00:49:24.160 --> 00:49:24.170 align:start position:0% yes definitely definitely interesting 00:49:24.170 --> 00:49:26.500 align:start position:0% yes definitely definitely interesting one<00:49:24.700> yet 00:49:26.500 --> 00:49:26.510 align:start position:0% one yet 00:49:26.510 --> 00:49:30.490 align:start position:0% one yet they<00:49:27.470> might<00:49:27.890> be<00:49:28.390> at<00:49:29.390> least<00:49:29.630> it's<00:49:29.810> um<00:49:30.020> like<00:49:30.200> a 00:49:30.490 --> 00:49:30.500 align:start position:0% they might be at least it's um like a 00:49:30.500 --> 00:49:32.050 align:start position:0% they might be at least it's um like a male<00:49:30.770> for<00:49:30.950> example<00:49:31.010> that's<00:49:31.609> something<00:49:31.940> that 00:49:32.050 --> 00:49:32.060 align:start position:0% male for example that's something that 00:49:32.060 --> 00:49:33.579 align:start position:0% male for example that's something that might<00:49:32.240> be<00:49:32.330> some<00:49:32.540> close<00:49:32.810> to<00:49:33.109> the<00:49:33.290> global 00:49:33.579 --> 00:49:33.589 align:start position:0% might be some close to the global 00:49:33.589 --> 00:49:35.410 align:start position:0% might be some close to the global coordination<00:49:34.099> that's<00:49:34.460> been<00:49:34.670> steppin<00:49:35.119> agree 00:49:35.410 --> 00:49:35.420 align:start position:0% coordination that's been steppin agree 00:49:35.420 --> 00:49:38.589 align:start position:0% coordination that's been steppin agree some<00:49:36.320> other<00:49:37.000> things<00:49:38.000> like<00:49:38.240> security 00:49:38.589 --> 00:49:38.599 align:start position:0% some other things like security 00:49:38.599 --> 00:49:40.990 align:start position:0% some other things like security circulation<00:49:39.320> this<00:49:39.530> is<00:49:39.650> Cana<00:49:39.980> this<00:49:40.640> is<00:49:40.790> gonna 00:49:40.990 --> 00:49:41.000 align:start position:0% circulation this is Cana this is gonna 00:49:41.000 --> 00:49:44.710 align:start position:0% circulation this is Cana this is gonna be<00:49:41.240> impossible<00:49:42.200> to<00:49:42.880> calculation<00:49:43.880> the<00:49:44.510> one 00:49:44.710 --> 00:49:44.720 align:start position:0% be impossible to calculation the one 00:49:44.720 --> 00:49:46.120 align:start position:0% be impossible to calculation the one interesting<00:49:45.140> example<00:49:45.170> is<00:49:45.560> the<00:49:45.740> approach<00:49:45.920> to 00:49:46.120 --> 00:49:46.130 align:start position:0% interesting example is the approach to 00:49:46.130 --> 00:49:47.980 align:start position:0% interesting example is the approach to stabilize<00:49:46.609> with<00:49:46.910> Libra<00:49:47.270> approaching<00:49:47.720> and<00:49:47.869> all 00:49:47.980 --> 00:49:47.990 align:start position:0% stabilize with Libra approaching and all 00:49:47.990 --> 00:49:50.740 align:start position:0% stabilize with Libra approaching and all of<00:49:48.140> this<00:49:48.320> you<00:49:48.619> know<00:49:48.650> mess<00:49:49.040> people<00:49:49.940> from<00:49:50.450> like 00:49:50.740 --> 00:49:50.750 align:start position:0% of this you know mess people from like 00:49:50.750 --> 00:49:52.780 align:start position:0% of this you know mess people from like central<00:49:51.140> bankers<00:49:51.560> reverse<00:49:51.920> countries<00:49:52.400> saying 00:49:52.780 --> 00:49:52.790 align:start position:0% central bankers reverse countries saying 00:49:52.790 --> 00:49:55.359 align:start position:0% central bankers reverse countries saying that<00:49:53.089> they're<00:49:53.630> not<00:49:53.660> gonna<00:49:54.050> load<00:49:54.290> this<00:49:54.530> this 00:49:55.359 --> 00:49:55.369 align:start position:0% that they're not gonna load this this 00:49:55.369 --> 00:49:56.800 align:start position:0% that they're not gonna load this this will<00:49:55.550> be<00:49:55.580> a<00:49:55.670> very<00:49:55.880> specific<00:49:56.150> test<00:49:56.540> for 00:49:56.800 --> 00:49:56.810 align:start position:0% will be a very specific test for 00:49:56.810 --> 00:50:12.640 align:start position:0% will be a very specific test for international<00:49:57.410> coordination<00:49:57.800> art<00:50:11.470> but<00:50:12.470> I 00:50:12.640 --> 00:50:12.650 align:start position:0% international coordination art but I 00:50:12.650 --> 00:50:14.560 align:start position:0% international coordination art but I think<00:50:13.160> people<00:50:13.460> underestimate<00:50:13.790> how<00:50:14.330> difficult 00:50:14.560 --> 00:50:14.570 align:start position:0% think people underestimate how difficult 00:50:14.570 --> 00:50:17.050 align:start position:0% think people underestimate how difficult it<00:50:15.140> is<00:50:15.260> if<00:50:15.470> you<00:50:15.560> have<00:50:15.800> global<00:50:16.339> standards<00:50:16.820> and 00:50:17.050 --> 00:50:17.060 align:start position:0% it is if you have global standards and 00:50:17.060 --> 00:50:20.890 align:start position:0% it is if you have global standards and you<00:50:17.240> don't<00:50:17.480> like<00:50:17.750> these<00:50:18.740> abilities<00:50:19.160> that<00:50:20.000> I 00:50:20.890 --> 00:50:20.900 align:start position:0% you don't like these abilities that I 00:50:20.900 --> 00:50:22.930 align:start position:0% you don't like these abilities that I was<00:50:21.170> in<00:50:21.320> line<00:50:21.500> it<00:50:21.680> rocks<00:50:21.890> that<00:50:22.339> you<00:50:22.490> start<00:50:22.730> and 00:50:22.930 --> 00:50:22.940 align:start position:0% was in line it rocks that you start and 00:50:22.940 --> 00:50:25.570 align:start position:0% was in line it rocks that you start and filled<00:50:23.450> the<00:50:23.720> spaces<00:50:24.050> between<00:50:24.470> the<00:50:24.800> regulation 00:50:25.570 --> 00:50:25.580 align:start position:0% filled the spaces between the regulation 00:50:25.580 --> 00:50:27.599 align:start position:0% filled the spaces between the regulation people<00:50:26.349> infinitive 00:50:27.599 --> 00:50:27.609 align:start position:0% people infinitive 00:50:27.609 --> 00:50:30.779 align:start position:0% people infinitive and<00:50:28.569> the<00:50:28.839> different<00:50:29.229> ego<00:50:29.559> that's<00:50:30.279> our<00:50:30.519> biggest 00:50:30.779 --> 00:50:30.789 align:start position:0% and the different ego that's our biggest 00:50:30.789 --> 00:50:33.059 align:start position:0% and the different ego that's our biggest beef<00:50:31.180> Latoya's<00:50:31.779> but<00:50:32.140> not<00:50:32.349> for<00:50:32.589> people<00:50:32.859> who<00:50:32.950> are 00:50:33.059 --> 00:50:33.069 align:start position:0% beef Latoya's but not for people who are 00:50:33.069 --> 00:50:35.910 align:start position:0% beef Latoya's but not for people who are admitted<00:50:33.309> projects<00:50:33.940> and<00:50:34.869> devotees<00:50:35.289> standards 00:50:35.910 --> 00:50:35.920 align:start position:0% admitted projects and devotees standards 00:50:35.920 --> 00:50:38.489 align:start position:0% admitted projects and devotees standards exist<00:50:36.369> like<00:50:37.059> this<00:50:37.119> laws<00:50:37.690> are<00:50:37.959> more<00:50:38.319> or<00:50:38.469> less 00:50:38.489 --> 00:50:38.499 align:start position:0% exist like this laws are more or less 00:50:38.499 --> 00:50:40.890 align:start position:0% exist like this laws are more or less similar<00:50:38.950> in<00:50:39.579> many<00:50:39.819> countries<00:50:40.089> because<00:50:40.690> the 00:50:40.890 --> 00:50:40.900 align:start position:0% similar in many countries because the 00:50:40.900 --> 00:50:43.170 align:start position:0% similar in many countries because the policy<00:50:41.289> concerns<00:50:41.650> are<00:50:41.979> the<00:50:42.130> same<00:50:42.369> or<00:50:42.910> almost 00:50:43.170 --> 00:50:43.180 align:start position:0% policy concerns are the same or almost 00:50:43.180 --> 00:50:46.859 align:start position:0% policy concerns are the same or almost identical<00:50:43.959> right<00:50:44.229> so<00:50:44.829> there<00:50:45.039> are<00:50:45.869> suspenders 00:50:46.859 --> 00:50:46.869 align:start position:0% identical right so there are suspenders 00:50:46.869 --> 00:50:48.839 align:start position:0% identical right so there are suspenders the<00:50:47.019> question<00:50:47.319> is<00:50:47.440> these<00:50:47.829> are<00:50:48.069> not<00:50:48.099> detailed 00:50:48.839 --> 00:50:48.849 align:start position:0% the question is these are not detailed 00:50:48.849 --> 00:50:50.870 align:start position:0% the question is these are not detailed details<00:50:49.359> which<00:50:49.690> are<00:50:49.779> problematic<00:50:50.200> here<00:50:50.499> right 00:50:50.870 --> 00:50:50.880 align:start position:0% details which are problematic here right 00:50:50.880 --> 00:51:12.749 align:start position:0% details which are problematic here right when<00:50:51.880> you<00:50:51.999> come<00:50:52.150> from<00:51:10.680> disrupt<00:51:11.680> this<00:51:11.859> is<00:51:12.519> there 00:51:12.749 --> 00:51:12.759 align:start position:0% when you come from disrupt this is there 00:51:12.759 --> 00:51:15.299 align:start position:0% when you come from disrupt this is there a<00:51:12.789> difference<00:51:13.209> between<00:51:13.529> global<00:51:14.529> standards<00:51:15.160> of 00:51:15.299 --> 00:51:15.309 align:start position:0% a difference between global standards of 00:51:15.309 --> 00:51:17.099 align:start position:0% a difference between global standards of regulation<00:51:15.910> and<00:51:16.119> rules<00:51:16.180> engines<00:51:16.869> of 00:51:17.099 --> 00:51:17.109 align:start position:0% regulation and rules engines of 00:51:17.109 --> 00:51:19.799 align:start position:0% regulation and rules engines of definition<00:51:17.979> about<00:51:18.670> various<00:51:19.509> things<00:51:19.690> like 00:51:19.799 --> 00:51:19.809 align:start position:0% definition about various things like 00:51:19.809 --> 00:51:21.809 align:start position:0% definition about various things like maybe<00:51:20.109> like<00:51:20.319> for<00:51:20.650> example<00:51:20.709> definition<00:51:21.519> of<00:51:21.579> die 00:51:21.809 --> 00:51:21.819 align:start position:0% maybe like for example definition of die 00:51:21.819 --> 00:51:24.420 align:start position:0% maybe like for example definition of die his<00:51:22.509> die<00:51:22.719> of<00:51:22.869> error<00:51:23.079> actions<00:51:23.529> and<00:51:23.769> not<00:51:23.920> as<00:51:24.190> bias 00:51:24.420 --> 00:51:24.430 align:start position:0% his die of error actions and not as bias 00:51:24.430 --> 00:51:29.479 align:start position:0% his die of error actions and not as bias energy<00:51:24.940> is<00:51:24.999> not<00:51:25.440> is<00:51:26.440> there<00:51:26.739> I<00:51:27.219> don't<00:51:27.279> know<00:51:27.459> the 00:51:29.479 --> 00:51:29.489 align:start position:0% energy is not is there I don't know the 00:51:29.489 --> 00:51:32.630 align:start position:0% energy is not is there I don't know the world<00:51:30.489> works<00:51:30.700> with<00:51:30.940> definitions 00:51:32.630 --> 00:51:32.640 align:start position:0% world works with definitions 00:51:32.640 --> 00:51:34.490 align:start position:0% world works with definitions no<00:51:32.790> that's<00:51:33.030> that's<00:51:33.330> more<00:51:33.960> or<00:51:34.050> less<00:51:34.080> the<00:51:34.200> same 00:51:34.490 --> 00:51:34.500 align:start position:0% no that's that's more or less the same 00:51:34.500 --> 00:51:36.980 align:start position:0% no that's that's more or less the same as<00:51:34.680> right<00:51:35.250> like<00:51:35.490> for<00:51:35.730> a<00:51:35.760> male<00:51:36.030> rubbish<00:51:36.420> for<00:51:36.780> a 00:51:36.980 --> 00:51:36.990 align:start position:0% as right like for a male rubbish for a 00:51:36.990 --> 00:51:40.460 align:start position:0% as right like for a male rubbish for a mole<00:51:37.730> for<00:51:38.730> the<00:51:38.790> purpose<00:51:39.120> of<00:51:39.240> paperwork<00:51:39.930> that 00:51:40.460 --> 00:51:40.470 align:start position:0% mole for the purpose of paperwork that 00:51:40.470 --> 00:51:42.440 align:start position:0% mole for the purpose of paperwork that thought<00:51:40.980> it<00:51:41.460> was<00:51:41.490> like<00:51:41.760> extremely<00:51:42.180> relevant 00:51:42.440 --> 00:51:42.450 align:start position:0% thought it was like extremely relevant 00:51:42.450 --> 00:51:44.930 align:start position:0% thought it was like extremely relevant out<00:51:42.930> there<00:51:43.230> to<00:51:43.380> Paris<00:51:43.680> is<00:51:43.860> defined<00:51:44.220> right<00:51:44.340> but 00:51:44.930 --> 00:51:44.940 align:start position:0% out there to Paris is defined right but 00:51:44.940 --> 00:51:48.020 align:start position:0% out there to Paris is defined right but it<00:51:45.120> was<00:51:45.240> like<00:51:45.450> one<00:51:45.960> of<00:51:45.990> the<00:51:46.140> car<00:51:46.320> bombers<00:51:47.030> right 00:51:48.020 --> 00:51:48.030 align:start position:0% it was like one of the car bombers right 00:51:48.030 --> 00:51:49.940 align:start position:0% it was like one of the car bombers right let's<00:51:48.360> let's<00:51:48.840> run<00:51:49.110> this<00:51:49.230> really<00:51:49.560> quickly 00:51:49.940 --> 00:51:49.950 align:start position:0% let's let's run this really quickly 00:51:49.950 --> 00:51:51.800 align:start position:0% let's let's run this really quickly never<00:51:50.370> local<00:51:50.700> liability<00:51:51.270> I'm<00:51:51.420> not<00:51:51.600> sure<00:51:51.780> that 00:51:51.800 --> 00:51:51.810 align:start position:0% never local liability I'm not sure that 00:51:51.810 --> 00:51:55.580 align:start position:0% never local liability I'm not sure that two<00:51:52.170> cars<00:51:52.440> an<00:51:53.310> explanation<00:51:54.180> here<00:51:54.720> just<00:51:55.380> one 00:51:55.580 --> 00:51:55.590 align:start position:0% two cars an explanation here just one 00:51:55.590 --> 00:51:57.440 align:start position:0% two cars an explanation here just one example<00:51:55.710> because<00:51:56.490> there<00:51:56.790> was<00:51:56.940> like<00:51:57.150> a<00:51:57.180> lot<00:51:57.420> of 00:51:57.440 --> 00:51:57.450 align:start position:0% example because there was like a lot of 00:51:57.450 --> 00:51:59.510 align:start position:0% example because there was like a lot of like<00:51:57.840> theoretical<00:51:58.320> thoughts<00:51:58.620> about<00:51:58.920> this<00:51:59.160> but 00:51:59.510 --> 00:51:59.520 align:start position:0% like theoretical thoughts about this but 00:51:59.520 --> 00:52:00.400 align:start position:0% like theoretical thoughts about this but one<00:51:59.700> example 00:52:00.400 --> 00:52:00.410 align:start position:0% one example 00:52:00.410 --> 00:52:03.470 align:start position:0% one example Averill<00:52:01.410> laws<00:52:01.680> are<00:52:02.460> being<00:52:02.820> implemented<00:52:03.210> by 00:52:03.470 --> 00:52:03.480 align:start position:0% Averill laws are being implemented by 00:52:03.480 --> 00:52:05.540 align:start position:0% Averill laws are being implemented by many<00:52:03.690> countries<00:52:03.900> in<00:52:04.260> Europe<00:52:04.290> right<00:52:04.680> now 00:52:05.540 --> 00:52:05.550 align:start position:0% many countries in Europe right now 00:52:05.550 --> 00:52:09.980 align:start position:0% many countries in Europe right now and<00:52:06.240> this<00:52:06.630> is<00:52:06.780> this<00:52:07.380> is<00:52:07.500> something<00:52:07.830> that<00:52:08.990> the 00:52:09.980 --> 00:52:09.990 align:start position:0% and this is this is something that the 00:52:09.990 --> 00:52:12.980 align:start position:0% and this is this is something that the UK<00:52:10.620> government's<00:52:11.310> like<00:52:11.880> propose<00:52:12.390> like<00:52:12.660> the<00:52:12.780> US 00:52:12.980 --> 00:52:12.990 align:start position:0% UK government's like propose like the US 00:52:12.990 --> 00:52:15.560 align:start position:0% UK government's like propose like the US big<00:52:13.230> wish<00:52:13.440> would<00:52:14.280> it<00:52:14.400> make<00:52:14.580> sense<00:52:14.640> to<00:52:15.510> apply 00:52:15.560 --> 00:52:15.570 align:start position:0% big wish would it make sense to apply 00:52:15.570 --> 00:52:18.590 align:start position:0% big wish would it make sense to apply this<00:52:15.810> regulation<00:52:16.530> to<00:52:17.240> people<00:52:18.240> that<00:52:18.450> are 00:52:18.590 --> 00:52:18.600 align:start position:0% this regulation to people that are 00:52:18.600 --> 00:52:19.910 align:start position:0% this regulation to people that are dealing<00:52:18.750> with<00:52:18.900> the<00:52:19.170> publication<00:52:19.680> of 00:52:19.910 --> 00:52:19.920 align:start position:0% dealing with the publication of 00:52:19.920 --> 00:52:22.250 align:start position:0% dealing with the publication of open-source<00:52:20.370> software<00:52:20.880> which<00:52:21.870> is<00:52:21.990> includes 00:52:22.250 --> 00:52:22.260 align:start position:0% open-source software which is includes 00:52:22.260 --> 00:52:23.900 align:start position:0% open-source software which is includes but<00:52:22.470> is<00:52:22.500> not<00:52:22.620> limited<00:52:22.800> to<00:52:23.160> longest<00:52:23.670> within 00:52:23.900 --> 00:52:23.910 align:start position:0% but is not limited to longest within 00:52:23.910 --> 00:52:25.610 align:start position:0% but is not limited to longest within world<00:52:24.120> software<00:52:24.360> other<00:52:24.870> types<00:52:25.260> of<00:52:25.410> group 00:52:25.610 --> 00:52:25.620 align:start position:0% world software other types of group 00:52:25.620 --> 00:52:27.770 align:start position:0% world software other types of group doesn't<00:52:25.830> related<00:52:26.670> so<00:52:26.820> right<00:52:27.180> so<00:52:27.360> this<00:52:27.600> would 00:52:27.770 --> 00:52:27.780 align:start position:0% doesn't related so right so this would 00:52:27.780 --> 00:52:29.990 align:start position:0% doesn't related so right so this would be<00:52:27.930> not<00:52:28.080> just<00:52:28.290> banks<00:52:28.560> or<00:52:28.920> exchanges<00:52:29.730> that<00:52:29.850> will 00:52:29.990 --> 00:52:30.000 align:start position:0% be not just banks or exchanges that will 00:52:30.000 --> 00:52:31.310 align:start position:0% be not just banks or exchanges that will be<00:52:30.090> subject<00:52:30.480> to<00:52:30.540> this<00:52:30.720> type<00:52:30.960> of<00:52:30.990> regulation 00:52:31.310 --> 00:52:31.320 align:start position:0% be subject to this type of regulation 00:52:31.320 --> 00:52:37.569 align:start position:0% be subject to this type of regulation but<00:52:32.310> also<00:52:33.560> open<00:52:34.560> source<00:52:35.010> death 00:52:37.569 --> 00:52:37.579 align:start position:0% 00:52:37.579 --> 00:52:43.300 align:start position:0% did<00:52:38.119> you<00:52:38.209> consider<00:52:38.509> disability 00:52:43.300 --> 00:52:43.310 align:start position:0% 00:52:43.310 --> 00:52:47.770 align:start position:0% [Music] 00:52:47.770 --> 00:52:47.780 align:start position:0% 00:52:47.780 --> 00:52:49.690 align:start position:0% all<00:52:48.290> right<00:52:48.740> that's<00:52:49.010> this<00:52:49.250> acute<00:52:49.520> quite 00:52:49.690 --> 00:52:49.700 align:start position:0% all right that's this acute quite 00:52:49.700 --> 00:52:55.090 align:start position:0% all right that's this acute quite surprising<00:52:50.240> I<00:52:51.190> thought<00:52:52.190> it<00:52:52.340> would<00:52:52.550> be<00:52:53.890> to<00:52:54.890> be 00:52:55.090 --> 00:52:55.100 align:start position:0% surprising I thought it would be to be 00:52:55.100 --> 00:53:00.760 align:start position:0% surprising I thought it would be to be close<00:52:55.730> to<00:52:55.940> hundred<00:52:56.240> percent<00:52:56.270> yes<00:52:59.590> let's<00:53:00.590> move 00:53:00.760 --> 00:53:00.770 align:start position:0% close to hundred percent yes let's move 00:53:00.770 --> 00:53:03.220 align:start position:0% close to hundred percent yes let's move on<00:53:00.950> how<00:53:01.520> relevant<00:53:01.910> is<00:53:02.210> this<00:53:02.420> before<00:53:02.990> we<00:53:03.050> go<00:53:03.170> to 00:53:03.220 --> 00:53:03.230 align:start position:0% on how relevant is this before we go to 00:53:03.230 --> 00:53:03.820 align:start position:0% on how relevant is this before we go to project 00:53:03.820 --> 00:53:03.830 align:start position:0% project 00:53:03.830 --> 00:53:05.410 align:start position:0% project I<00:53:03.860> mean<00:53:04.190> is<00:53:04.310> of<00:53:04.490> course<00:53:04.670> difficult<00:53:04.970> to<00:53:05.270> say 00:53:05.410 --> 00:53:05.420 align:start position:0% I mean is of course difficult to say 00:53:05.420 --> 00:53:14.970 align:start position:0% I mean is of course difficult to say right<00:53:05.720> if<00:53:06.050> you're<00:53:06.200> not<00:53:06.380> a<00:53:06.410> lawyer<00:53:06.650> but<00:53:07.660> just 00:53:14.970 --> 00:53:14.980 align:start position:0% 00:53:14.980 --> 00:53:24.530 align:start position:0% people<00:53:15.700> are<00:53:15.790> fragile 00:53:24.530 --> 00:53:24.540 align:start position:0% 00:53:24.540 --> 00:53:26.090 align:start position:0% and<00:53:24.900> thermal<00:53:25.230> other<00:53:25.380> than<00:53:25.530> it<00:53:25.650> is<00:53:25.770> for<00:53:25.980> the 00:53:26.090 --> 00:53:26.100 align:start position:0% and thermal other than it is for the 00:53:26.100 --> 00:53:33.640 align:start position:0% and thermal other than it is for the entire<00:53:26.340> defy<00:53:26.790> space 00:53:33.640 --> 00:53:33.650 align:start position:0% 00:53:33.650 --> 00:53:37.180 align:start position:0% Thursday<00:53:34.490> again<00:53:34.970> is<00:53:35.329> is<00:53:35.660> that<00:53:36.499> you<00:53:36.859> know<00:53:36.980> if 00:53:37.180 --> 00:53:37.190 align:start position:0% Thursday again is is that you know if 00:53:37.190 --> 00:53:39.400 align:start position:0% Thursday again is is that you know if you<00:53:37.279> have<00:53:37.460> like<00:53:37.700> this<00:53:37.910> centralized<00:53:38.420> financial 00:53:39.400 --> 00:53:39.410 align:start position:0% you have like this centralized financial 00:53:39.410 --> 00:53:41.410 align:start position:0% you have like this centralized financial services<00:53:39.829> and<00:53:40.160> regulators<00:53:40.549> are<00:53:40.940> looking<00:53:40.970> for 00:53:41.410 --> 00:53:41.420 align:start position:0% services and regulators are looking for 00:53:41.420 --> 00:53:42.910 align:start position:0% services and regulators are looking for something<00:53:41.660> that<00:53:41.930> this<00:53:42.049> is<00:53:42.170> called<00:53:42.410> access 00:53:42.910 --> 00:53:42.920 align:start position:0% something that this is called access 00:53:42.920 --> 00:53:45.430 align:start position:0% something that this is called access points<00:53:43.420> you<00:53:44.420> know<00:53:44.539> you<00:53:44.599> may<00:53:44.960> want<00:53:44.990> to<00:53:45.319> address 00:53:45.430 --> 00:53:45.440 align:start position:0% points you know you may want to address 00:53:45.440 --> 00:53:49.480 align:start position:0% points you know you may want to address users<00:53:46.329> minors<00:53:47.380> but<00:53:48.380> developers<00:53:49.009> like<00:53:49.220> people 00:53:49.480 --> 00:53:49.490 align:start position:0% users minors but developers like people 00:53:49.490 --> 00:53:51.999 align:start position:0% users minors but developers like people that<00:53:49.609> are<00:53:49.670> actually<00:53:49.789> doing<00:53:50.119> this<00:53:51.009> and 00:53:51.999 --> 00:53:52.009 align:start position:0% that are actually doing this and 00:53:52.009 --> 00:53:53.739 align:start position:0% that are actually doing this and not<00:53:52.220> only<00:53:52.369> developing<00:53:52.999> protocols<00:53:53.269> but<00:53:53.599> also 00:53:53.739 --> 00:53:53.749 align:start position:0% not only developing protocols but also 00:53:53.749 --> 00:53:55.960 align:start position:0% not only developing protocols but also products<00:53:54.349> seem<00:53:54.890> to<00:53:55.190> seem<00:53:55.339> like<00:53:55.490> an<00:53:55.670> office 00:53:55.960 --> 00:53:55.970 align:start position:0% products seem to seem like an office 00:53:55.970 --> 00:53:58.210 align:start position:0% products seem to seem like an office Isis<00:53:56.299> but<00:53:56.960> from<00:53:57.170> the<00:53:57.289> regulatory<00:53:57.619> cost<00:53:57.950> point 00:53:58.210 --> 00:53:58.220 align:start position:0% Isis but from the regulatory cost point 00:53:58.220 --> 00:54:00.069 align:start position:0% Isis but from the regulatory cost point of<00:53:58.339> view<00:53:58.490> to<00:53:58.640> think<00:53:58.999> regulators<00:53:59.720> with<00:53:59.900> one 00:54:00.069 --> 00:54:00.079 align:start position:0% of view to think regulators with one 00:54:00.079 --> 00:54:02.170 align:start position:0% of view to think regulators with one after<00:54:00.410> this<00:54:00.650> developers<00:54:01.190> because<00:54:01.460> that 00:54:02.170 --> 00:54:02.180 align:start position:0% after this developers because that 00:54:02.180 --> 00:54:04.059 align:start position:0% after this developers because that computers<00:54:02.839> a<00:54:02.960> huge<00:54:03.230> amount<00:54:03.470> of<00:54:03.529> cost<00:54:03.799> for<00:54:03.950> the 00:54:04.059 --> 00:54:04.069 align:start position:0% computers a huge amount of cost for the 00:54:04.069 --> 00:54:07.809 align:start position:0% computers a huge amount of cost for the Americas<00:54:04.490> yeah<00:54:05.029> I<00:54:05.359> mean<00:54:06.369> again<00:54:07.369> this<00:54:07.549> is<00:54:07.700> like 00:54:07.809 --> 00:54:07.819 align:start position:0% Americas yeah I mean again this is like 00:54:07.819 --> 00:54:09.549 align:start position:0% Americas yeah I mean again this is like a<00:54:07.849> generic<00:54:08.180> problem<00:54:08.450> that<00:54:08.809> might<00:54:09.019> materialize 00:54:09.549 --> 00:54:09.559 align:start position:0% a generic problem that might materialize 00:54:09.559 --> 00:54:13.269 align:start position:0% a generic problem that might materialize in<00:54:10.160> some<00:54:10.369> specific<00:54:10.609> complex<00:54:11.269> right<00:54:12.009> of<00:54:13.009> course 00:54:13.269 --> 00:54:13.279 align:start position:0% in some specific complex right of course 00:54:13.279 --> 00:54:15.880 align:start position:0% in some specific complex right of course I<00:54:13.490> do<00:54:13.880> not<00:54:13.910> foresee<00:54:14.569> this<00:54:14.930> this<00:54:15.349> sport<00:54:15.680> in 00:54:15.880 --> 00:54:15.890 align:start position:0% I do not foresee this this sport in 00:54:15.890 --> 00:54:17.710 align:start position:0% I do not foresee this this sport in which<00:54:15.920> developers<00:54:16.819> would<00:54:16.999> need<00:54:17.210> to<00:54:17.420> go 00:54:17.710 --> 00:54:17.720 align:start position:0% which developers would need to go 00:54:17.720 --> 00:54:19.480 align:start position:0% which developers would need to go underground<00:54:18.170> because<00:54:18.740> there<00:54:19.009> would<00:54:19.130> be<00:54:19.160> like 00:54:19.480 --> 00:54:19.490 align:start position:0% underground because there would be like 00:54:19.490 --> 00:54:21.999 align:start position:0% underground because there would be like huge<00:54:19.759> regulatory<00:54:20.359> enforcement<00:54:20.829> action<00:54:21.829> at 00:54:21.999 --> 00:54:22.009 align:start position:0% huge regulatory enforcement action at 00:54:22.009 --> 00:54:24.640 align:start position:0% huge regulatory enforcement action at the<00:54:22.160> toe<00:54:22.309> of<00:54:22.339> human<00:54:22.730> strength<00:54:23.289> but<00:54:24.289> in<00:54:24.410> some 00:54:24.640 --> 00:54:24.650 align:start position:0% the toe of human strength but in some 00:54:24.650 --> 00:54:26.230 align:start position:0% the toe of human strength but in some context<00:54:25.069> that<00:54:25.190> might<00:54:25.339> be<00:54:25.490> relevant<00:54:25.759> like<00:54:26.089> I'd 00:54:26.230 --> 00:54:26.240 align:start position:0% context that might be relevant like I'd 00:54:26.240 --> 00:54:28.029 align:start position:0% context that might be relevant like I'd like<00:54:26.420> a<00:54:26.450> shot<00:54:26.539> with<00:54:26.930> the<00:54:27.079> same<00:54:27.109> models<00:54:27.710> right 00:54:28.029 --> 00:54:28.039 align:start position:0% like a shot with the same models right 00:54:28.039 --> 00:54:30.279 align:start position:0% like a shot with the same models right it's<00:54:28.670> enough<00:54:29.059> if<00:54:29.359> there<00:54:29.539> is<00:54:29.630> like<00:54:29.809> this<00:54:29.960> small 00:54:30.279 --> 00:54:30.289 align:start position:0% it's enough if there is like this small 00:54:30.289 --> 00:54:32.829 align:start position:0% it's enough if there is like this small detail<00:54:30.680> that<00:54:31.059> that<00:54:32.059> would<00:54:32.210> really<00:54:32.240> make<00:54:32.779> a 00:54:32.829 --> 00:54:32.839 align:start position:0% detail that that would really make a 00:54:32.839 --> 00:54:43.850 align:start position:0% detail that that would really make a difference<00:54:33.079> like<00:54:33.440> right<00:54:35.079> right<00:54:36.160> solutions 00:54:43.850 --> 00:54:43.860 align:start position:0% 00:54:43.860 --> 00:54:47.930 align:start position:0% actually<00:54:44.670> I<00:54:44.730> think<00:54:44.820> that<00:54:45.120> here<00:54:46.760> material<00:54:47.760> best 00:54:47.930 --> 00:54:47.940 align:start position:0% actually I think that here material best 00:54:47.940 --> 00:54:59.420 align:start position:0% actually I think that here material best solution<00:54:48.540> would<00:54:48.750> be<00:54:48.810> to<00:54:50.930> do 00:54:59.420 --> 00:54:59.430 align:start position:0% 00:54:59.430 --> 00:55:07.810 align:start position:0% literally 00:55:07.810 --> 00:55:07.820 align:start position:0% 00:55:07.820 --> 00:55:17.829 align:start position:0% I<00:55:07.850> thought<00:55:08.510> it<00:55:08.630> was<00:55:08.750> best<00:55:09.020> darkness 00:55:17.829 --> 00:55:17.839 align:start position:0% 00:55:17.839 --> 00:55:20.289 align:start position:0% you<00:55:18.380> know<00:55:18.469> it's<00:55:18.949> not<00:55:19.160> that<00:55:19.219> sometimes<00:55:20.029> we<00:55:20.180> may 00:55:20.289 --> 00:55:20.299 align:start position:0% you know it's not that sometimes we may 00:55:20.299 --> 00:55:21.789 align:start position:0% you know it's not that sometimes we may be<00:55:20.329> who<00:55:20.479> may<00:55:20.689> think<00:55:20.749> that<00:55:21.049> it's<00:55:21.319> like<00:55:21.529> without 00:55:21.789 --> 00:55:21.799 align:start position:0% be who may think that it's like without 00:55:21.799 --> 00:55:23.979 align:start position:0% be who may think that it's like without any<00:55:22.160> sense<00:55:22.459> at<00:55:22.609> all<00:55:22.729> right<00:55:23.209> but<00:55:23.449> you<00:55:23.869> know 00:55:23.979 --> 00:55:23.989 align:start position:0% any sense at all right but you know 00:55:23.989 --> 00:55:26.170 align:start position:0% any sense at all right but you know imagine<00:55:24.349> it<00:55:24.589> like<00:55:24.769> that<00:55:24.890> that<00:55:25.160> that<00:55:25.969> is<00:55:26.150> just 00:55:26.170 --> 00:55:26.180 align:start position:0% imagine it like that that that is just 00:55:26.180 --> 00:55:29.529 align:start position:0% imagine it like that that that is just developing<00:55:26.719> a<00:55:27.140> Ponzi<00:55:27.589> scheme<00:55:27.619> like<00:55:28.549> with<00:55:29.209> full 00:55:29.529 --> 00:55:29.539 align:start position:0% developing a Ponzi scheme like with full 00:55:29.539 --> 00:55:31.449 align:start position:0% developing a Ponzi scheme like with full knowledge<00:55:29.569> that<00:55:30.410> it's<00:55:30.559> going<00:55:30.739> to<00:55:30.829> serve<00:55:31.130> this 00:55:31.449 --> 00:55:31.459 align:start position:0% knowledge that it's going to serve this 00:55:31.459 --> 00:55:34.150 align:start position:0% knowledge that it's going to serve this purpose<00:55:31.759> we<00:55:32.689> deploy<00:55:33.049> the<00:55:33.289> cotton<00:55:33.619> promoting 00:55:34.150 --> 00:55:34.160 align:start position:0% purpose we deploy the cotton promoting 00:55:34.160 --> 00:55:37.029 align:start position:0% purpose we deploy the cotton promoting it<00:55:34.279> right<00:55:34.759> then<00:55:35.719> that's<00:55:35.930> it's<00:55:36.410> not<00:55:36.650> obvious 00:55:37.029 --> 00:55:37.039 align:start position:0% it right then that's it's not obvious 00:55:37.039 --> 00:55:39.699 align:start position:0% it right then that's it's not obvious right<00:55:37.420> whether<00:55:38.420> we<00:55:38.630> might<00:55:38.809> want<00:55:39.140> to<00:55:39.229> go<00:55:39.529> after 00:55:39.699 --> 00:55:39.709 align:start position:0% right whether we might want to go after 00:55:39.709 --> 00:55:41.890 align:start position:0% right whether we might want to go after this<00:55:40.069> guy<00:55:40.130> pass<00:55:40.640> that<00:55:41.059> there<00:55:41.299> is<00:55:41.390> a<00:55:41.420> certain 00:55:41.890 --> 00:55:41.900 align:start position:0% this guy pass that there is a certain 00:55:41.900 --> 00:55:45.189 align:start position:0% this guy pass that there is a certain brush<00:55:42.140> around<00:55:42.289> for<00:55:42.739> trains<00:55:43.009> right<00:55:44.199> we're 00:55:45.189 --> 00:55:45.199 align:start position:0% brush around for trains right we're 00:55:45.199 --> 00:55:48.050 align:start position:0% brush around for trains right we're tight 00:55:48.050 --> 00:55:48.060 align:start position:0% 00:55:48.060 --> 00:55:50.780 align:start position:0% the<00:55:48.930> information<00:55:49.440> available<00:55:49.530> here<00:55:50.430> if<00:55:50.640> is 00:55:50.780 --> 00:55:50.790 align:start position:0% the information available here if is 00:55:50.790 --> 00:55:52.700 align:start position:0% the information available here if is open-source<00:55:51.240> and<00:55:51.480> everybody<00:55:51.900> in<00:55:52.050> contributed 00:55:52.700 --> 00:55:52.710 align:start position:0% open-source and everybody in contributed 00:55:52.710 --> 00:55:55.640 align:start position:0% open-source and everybody in contributed yeah<00:55:53.040> is<00:55:53.220> a<00:55:53.250> community<00:55:53.730> of<00:55:53.760> desert<00:55:54.240> yes<00:55:54.900> yes 00:55:55.640 --> 00:55:55.650 align:start position:0% yeah is a community of desert yes yes 00:55:55.650 --> 00:55:55.990 align:start position:0% yeah is a community of desert yes yes really 00:55:55.990 --> 00:55:56.000 align:start position:0% really 00:55:56.000 --> 00:55:58.850 align:start position:0% really right<00:55:57.000> okay<00:55:57.330> so<00:55:57.390> we<00:55:58.110> are<00:55:58.170> really<00:55:58.350> running<00:55:58.650> out 00:55:58.850 --> 00:55:58.860 align:start position:0% right okay so we are really running out 00:55:58.860 --> 00:56:02.450 align:start position:0% right okay so we are really running out of<00:55:58.920> time<00:55:59.160> so<00:55:59.220> let's<00:55:59.610> quickly<00:55:59.880> go<00:56:00.180> through<00:56:01.460> the 00:56:02.450 --> 00:56:02.460 align:start position:0% of time so let's quickly go through the 00:56:02.460 --> 00:56:06.200 align:start position:0% of time so let's quickly go through the last<00:56:02.940> piece<00:56:03.740> which<00:56:04.740> is<00:56:04.920> just<00:56:05.250> like<00:56:05.490> pure<00:56:05.880> legal 00:56:06.200 --> 00:56:06.210 align:start position:0% last piece which is just like pure legal 00:56:06.210 --> 00:56:15.490 align:start position:0% last piece which is just like pure legal martyrs<00:56:06.720> right<00:56:07.350> so<00:56:07.650> some<00:56:07.950> cases<00:56:08.760> in<00:56:09.390> which 00:56:15.490 --> 00:56:15.500 align:start position:0% 00:56:15.500 --> 00:56:47.630 align:start position:0% examples<00:56:19.070> just<00:56:23.660> so<00:56:45.950> last<00:56:46.950> series<00:56:47.400> of 00:56:47.630 --> 00:56:47.640 align:start position:0% examples just so last series of 00:56:47.640 --> 00:56:52.100 align:start position:0% examples just so last series of questions<00:56:49.370> legal<00:56:50.370> barriers<00:56:50.790> so<00:56:51.150> you<00:56:51.990> know 00:56:52.100 --> 00:56:52.110 align:start position:0% questions legal barriers so you know 00:56:52.110 --> 00:56:55.490 align:start position:0% questions legal barriers so you know like<00:56:52.410> you<00:56:52.880> know<00:56:53.880> laws<00:56:54.510> that<00:56:54.810> are<00:56:54.990> just<00:56:55.230> not 00:56:55.490 --> 00:56:55.500 align:start position:0% like you know laws that are just not 00:56:55.500 --> 00:56:58.370 align:start position:0% like you know laws that are just not responding<00:56:56.280> well<00:56:56.490> to<00:56:56.850> these<00:56:57.540> new<00:56:57.840> new 00:56:58.370 --> 00:56:58.380 align:start position:0% responding well to these new new 00:56:58.380 --> 00:57:04.340 align:start position:0% responding well to these new new products<00:57:02.180> which<00:57:03.180> does<00:57:03.360> not<00:57:03.510> mean<00:57:03.750> that<00:57:03.780> you 00:57:04.340 --> 00:57:04.350 align:start position:0% products which does not mean that you 00:57:04.350 --> 00:57:06.080 align:start position:0% products which does not mean that you know<00:57:04.500> sometimes<00:57:04.950> the<00:57:05.550> fact<00:57:05.760> that<00:57:05.850> they<00:57:06.030> are 00:57:06.080 --> 00:57:06.090 align:start position:0% know sometimes the fact that they are 00:57:06.090 --> 00:57:07.970 align:start position:0% know sometimes the fact that they are not<00:57:06.240> covering<00:57:06.780> something<00:57:07.140> explicit<00:57:07.620> to<00:57:07.830> these 00:57:07.970 --> 00:57:07.980 align:start position:0% not covering something explicit to these 00:57:07.980 --> 00:57:09.260 align:start position:0% not covering something explicit to these other<00:57:08.160> problems<00:57:08.430> you<00:57:08.850> saw<00:57:09.060> their<00:57:09.210> opportunity 00:57:09.260 --> 00:57:09.270 align:start position:0% other problems you saw their opportunity 00:57:09.270 --> 00:57:11.960 align:start position:0% other problems you saw their opportunity but<00:57:09.900> sometimes<00:57:10.320> there<00:57:11.010> are<00:57:11.070> stopping<00:57:11.790> people 00:57:11.960 --> 00:57:11.970 align:start position:0% but sometimes there are stopping people 00:57:11.970 --> 00:57:16.820 align:start position:0% but sometimes there are stopping people from<00:57:12.420> doing<00:57:12.660> doing<00:57:13.470> things<00:57:13.740> to<00:57:13.890> go<00:57:15.830> right 00:57:16.820 --> 00:57:16.830 align:start position:0% from doing doing things to go right 00:57:16.830 --> 00:57:20.010 align:start position:0% from doing doing things to go right natural<00:57:17.760> common<00:57:18.030> answers 00:57:20.010 --> 00:57:20.020 align:start position:0% natural common answers 00:57:20.020 --> 00:57:36.510 align:start position:0% natural common answers seriously<00:57:22.600> however<00:57:23.770> your 00:57:36.510 --> 00:57:36.520 align:start position:0% 00:57:36.520 --> 00:57:38.309 align:start position:0% right 00:57:38.309 --> 00:57:38.319 align:start position:0% right 00:57:38.319 --> 00:57:42.099 align:start position:0% right some<00:57:39.319> as<00:57:39.470> usual<00:57:40.010> overestimate<00:57:40.849> this<00:57:41.119> the 00:57:42.099 --> 00:57:42.109 align:start position:0% some as usual overestimate this the 00:57:42.109 --> 00:57:44.200 align:start position:0% some as usual overestimate this the stigma<00:57:42.619> certainly<00:57:43.190> fun<00:57:43.400> to<00:57:43.579> do<00:57:43.700> things<00:57:43.910> about 00:57:44.200 --> 00:57:44.210 align:start position:0% stigma certainly fun to do things about 00:57:44.210 --> 00:57:48.430 align:start position:0% stigma certainly fun to do things about the<00:57:44.390> role<00:57:44.599> general<00:57:45.849> but<00:57:46.849> this<00:57:47.089> is<00:57:47.440> the 00:57:48.430 --> 00:57:48.440 align:start position:0% the role general but this is the 00:57:48.440 --> 00:57:51.730 align:start position:0% the role general but this is the necessary<00:57:49.010> problem<00:57:49.520> breo's<00:57:50.440> how<00:57:51.440> is<00:57:51.619> this 00:57:51.730 --> 00:57:51.740 align:start position:0% necessary problem breo's how is this 00:57:51.740 --> 00:58:18.339 align:start position:0% necessary problem breo's how is this relevant<00:57:51.950> for<00:57:52.400> Bacall<00:57:52.700> defy<00:57:53.059> space 00:58:18.339 --> 00:58:18.349 align:start position:0% 00:58:18.349 --> 00:58:45.600 align:start position:0% and<00:58:18.859> solutions 00:58:45.600 --> 00:58:45.610 align:start position:0% 00:58:45.610 --> 00:58:49.670 align:start position:0% it<00:58:46.030> seems<00:58:46.330> that<00:58:46.510> this<00:58:46.720> one<00:58:46.990> actually<00:58:47.350> that 00:58:49.670 --> 00:58:49.680 align:start position:0% 00:58:49.680 --> 00:58:51.930 align:start position:0% this<00:58:50.680> one<00:58:50.860> actually<00:58:51.010> have<00:58:51.370> like<00:58:51.580> a<00:58:51.640> very 00:58:51.930 --> 00:58:51.940 align:start position:0% this one actually have like a very 00:58:51.940 --> 00:58:55.410 align:start position:0% this one actually have like a very simple<00:58:53.250> simple<00:58:54.250> solution<00:58:54.610> right<00:58:54.730> just<00:58:55.060> change 00:58:55.410 --> 00:58:55.420 align:start position:0% simple simple solution right just change 00:58:55.420 --> 00:58:57.870 align:start position:0% simple simple solution right just change the<00:58:55.600> law<00:58:55.750> justice<00:58:56.590> make<00:58:56.950> these<00:58:57.310> people<00:58:57.730> that 00:58:57.870 --> 00:58:57.880 align:start position:0% the law justice make these people that 00:58:57.880 --> 00:59:00.120 align:start position:0% the law justice make these people that are<00:58:58.140> responsive<00:58:59.140> responsible<00:58:59.290> for<00:58:59.920> gays 00:59:00.120 --> 00:59:00.130 align:start position:0% are responsive responsible for gays 00:59:00.130 --> 00:59:02.580 align:start position:0% are responsive responsible for gays aware<00:59:00.970> of<00:59:01.150> this<00:59:01.330> problems<00:59:01.870> which<00:59:02.110> is<00:59:02.230> which<00:59:02.560> is 00:59:02.580 --> 00:59:02.590 align:start position:0% aware of this problems which is which is 00:59:02.590 --> 00:59:05.040 align:start position:0% aware of this problems which is which is possibly<00:59:03.250> the<00:59:03.370> the<00:59:04.210> best<00:59:04.420> result<00:59:04.810> it's 00:59:05.040 --> 00:59:05.050 align:start position:0% possibly the the best result it's 00:59:05.050 --> 00:59:06.780 align:start position:0% possibly the the best result it's something<00:59:05.380> the<00:59:05.530> question<00:59:05.830> if<00:59:06.070> we<00:59:06.100> want<00:59:06.490> to<00:59:06.640> do 00:59:06.780 --> 00:59:06.790 align:start position:0% something the question if we want to do 00:59:06.790 --> 00:59:08.220 align:start position:0% something the question if we want to do that<00:59:06.910> right<00:59:06.970> especially<00:59:07.450> those<00:59:07.840> people<00:59:07.990> that 00:59:08.220 --> 00:59:08.230 align:start position:0% that right especially those people that 00:59:08.230 --> 00:59:09.750 align:start position:0% that right especially those people that have<00:59:08.440> this<00:59:08.590> mindset<00:59:08.980> of<00:59:09.100> giving<00:59:09.520> something 00:59:09.750 --> 00:59:09.760 align:start position:0% have this mindset of giving something 00:59:09.760 --> 00:59:13.260 align:start position:0% have this mindset of giving something that's<00:59:10.030> completely<00:59:10.450> alternative<00:59:12.090> you<00:59:13.090> know 00:59:13.260 --> 00:59:13.270 align:start position:0% that's completely alternative you know 00:59:13.270 --> 00:59:15.420 align:start position:0% that's completely alternative you know they<00:59:13.630> just<00:59:13.960> don't<00:59:14.380> want<00:59:14.680> to<00:59:14.740> make<00:59:15.160> people 00:59:15.420 --> 00:59:15.430 align:start position:0% they just don't want to make people 00:59:15.430 --> 00:59:17.430 align:start position:0% they just don't want to make people aware<00:59:15.670> that<00:59:15.940> regulators<00:59:16.720> right<00:59:16.990> because<00:59:17.290> they 00:59:17.430 --> 00:59:17.440 align:start position:0% aware that regulators right because they 00:59:17.440 --> 00:59:18.630 align:start position:0% aware that regulators right because they think<00:59:17.680> that<00:59:17.800> it's<00:59:18.010> going<00:59:18.070> to<00:59:18.280> be<00:59:18.400> some 00:59:18.630 --> 00:59:18.640 align:start position:0% think that it's going to be some 00:59:18.640 --> 00:59:26.270 align:start position:0% think that it's going to be some problems<00:59:19.060> and<00:59:19.240> it's<00:59:19.570> invalid 00:59:26.270 --> 00:59:26.280 align:start position:0% 00:59:26.280 --> 00:59:32.150 align:start position:0% all<00:59:27.280> right<00:59:27.460> so<00:59:27.670> we<00:59:27.850> are<00:59:28.350> terrifically<00:59:30.720> late<00:59:31.750> I 00:59:32.150 --> 00:59:32.160 align:start position:0% all right so we are terrifically late I 00:59:32.160 --> 00:59:44.490 align:start position:0% all right so we are terrifically late I think<00:59:40.020> use<00:59:41.020> this<00:59:41.440> data<00:59:42.240> hopefully<00:59:43.240> on<00:59:43.500> defy 00:59:44.490 --> 00:59:44.500 align:start position:0% think use this data hopefully on defy 00:59:44.500 --> 00:59:47.700 align:start position:0% think use this data hopefully on defy example<00:59:45.040> all<00:59:45.130> sort<00:59:45.520> and<00:59:46.360> present<00:59:47.200> present 00:59:47.700 --> 00:59:47.710 align:start position:0% example all sort and present present 00:59:47.710 --> 00:59:49.620 align:start position:0% example all sort and present present these<00:59:47.890> ideas<00:59:48.010> and<00:59:48.580> I<00:59:48.670> hope<00:59:48.820> like<00:59:49.210> I<00:59:49.240> really 00:59:49.620 --> 00:59:49.630 align:start position:0% these ideas and I hope like I really 00:59:49.630 --> 00:59:51.390 align:start position:0% these ideas and I hope like I really hope<00:59:49.870> that<00:59:49.900> this<00:59:50.350> this<00:59:50.710> will<00:59:50.920> be<00:59:51.040> just<00:59:51.220> like 00:59:51.390 --> 00:59:51.400 align:start position:0% hope that this this will be just like 00:59:51.400 --> 00:59:53.940 align:start position:0% hope that this this will be just like the<00:59:51.670> initial<00:59:52.270> discussion<00:59:52.870> about<00:59:53.590> general 00:59:53.940 --> 00:59:53.950 align:start position:0% the initial discussion about general 00:59:53.950 --> 00:59:56.040 align:start position:0% the initial discussion about general problems<00:59:54.340> and<00:59:54.610> we'll<00:59:54.790> get<00:59:55.000> into<00:59:55.210> specifics<00:59:55.870> as 00:59:56.040 --> 00:59:56.050 align:start position:0% problems and we'll get into specifics as 00:59:56.050 --> 00:59:57.900 align:start position:0% problems and we'll get into specifics as a<00:59:56.110> community<00:59:56.740> right<00:59:57.010> because<00:59:57.340> we<00:59:57.520> really<00:59:57.850> need 00:59:57.900 --> 00:59:57.910 align:start position:0% a community right because we really need 00:59:57.910 --> 01:00:00.840 align:start position:0% a community right because we really need to<00:59:58.180> share<00:59:58.420> these<00:59:58.570> problems<00:59:59.490> common<01:00:00.490> problems 01:00:00.840 --> 01:00:00.850 align:start position:0% to share these problems common problems 01:00:00.850 --> 01:00:03.960 align:start position:0% to share these problems common problems as<01:00:01.060> we<01:00:01.240> can<01:00:01.420> see<01:00:01.600> as<01:00:01.930> projects<01:00:02.830> and<01:00:03.040> think 01:00:03.960 --> 01:00:03.970 align:start position:0% as we can see as projects and think 01:00:03.970 --> 01:00:11.520 align:start position:0% as we can see as projects and think about<01:00:04.240> solutions<01:00:04.570> that<01:00:05.050> whatever 01:00:11.520 --> 01:00:11.530 align:start position:0% 01:00:11.530 --> 01:00:14.250 align:start position:0% they<01:00:12.070> were<01:00:12.190> a<01:00:12.220> fright<01:00:12.610> they<01:00:12.850> may<01:00:13.090> throw<01:00:13.360> or<01:00:14.110> no 01:00:14.250 --> 01:00:14.260 align:start position:0% they were a fright they may throw or no 01:00:14.260 --> 01:00:18.270 align:start position:0% they were a fright they may throw or no six<01:00:14.670> sorry<01:00:15.670> it<01:00:15.820> was<01:00:16.600> my<01:00:16.720> mistake<01:00:16.750> I<01:00:17.020> said<01:00:17.380> these 01:00:18.270 --> 01:00:18.280 align:start position:0% six sorry it was my mistake I said these 01:00:18.280 --> 01:00:20.220 align:start position:0% six sorry it was my mistake I said these were<01:00:18.430> six<01:00:18.700> problems<01:00:18.970> so<01:00:19.360> that's<01:00:20.080> actually 01:00:20.220 --> 01:00:20.230 align:start position:0% were six problems so that's actually 01:00:20.230 --> 01:00:25.080 align:start position:0% were six problems so that's actually different 01:00:25.080 --> 01:00:25.090 align:start position:0% 01:00:25.090 --> 01:00:32.160 align:start position:0% [Applause] 01:00:32.160 --> 01:00:32.170 align:start position:0% 01:00:32.170 --> 01:00:34.230 align:start position:0% you