WEBVTT Kind: captions Language: en 00:00:17.210 --> 00:00:19.880 align:start position:0% um<00:00:18.210> yeah<00:00:18.720> so<00:00:18.869> this<00:00:18.960> is<00:00:19.020> the<00:00:19.289> the<00:00:19.500> middleware 00:00:19.880 --> 00:00:19.890 align:start position:0% um yeah so this is the the middleware 00:00:19.890 --> 00:00:22.130 align:start position:0% um yeah so this is the the middleware and<00:00:20.100> unchain<00:00:20.609> services<00:00:21.150> panel<00:00:21.510> we've<00:00:21.990> got<00:00:22.109> a 00:00:22.130 --> 00:00:22.140 align:start position:0% and unchain services panel we've got a 00:00:22.140 --> 00:00:24.529 align:start position:0% and unchain services panel we've got a great<00:00:22.529> sort<00:00:22.800> of<00:00:22.890> brain<00:00:23.250> trust<00:00:23.550> on<00:00:24.150> panel<00:00:24.420> today 00:00:24.529 --> 00:00:24.539 align:start position:0% great sort of brain trust on panel today 00:00:24.539 --> 00:00:27.140 align:start position:0% great sort of brain trust on panel today Christian<00:00:25.529> lindquist<00:00:26.250> as<00:00:26.730> a<00:00:26.789> crypto 00:00:27.140 --> 00:00:27.150 align:start position:0% Christian lindquist as a crypto 00:00:27.150 --> 00:00:29.109 align:start position:0% Christian lindquist as a crypto financial<00:00:27.720> engineer<00:00:28.289> and<00:00:28.470> decentralization 00:00:29.109 --> 00:00:29.119 align:start position:0% financial engineer and decentralization 00:00:29.119 --> 00:00:32.089 align:start position:0% financial engineer and decentralization generous<00:00:30.119> at<00:00:30.359> consensus<00:00:31.050> we've<00:00:31.710> got<00:00:31.859> Roman 00:00:32.089 --> 00:00:32.099 align:start position:0% generous at consensus we've got Roman 00:00:32.099 --> 00:00:35.270 align:start position:0% generous at consensus we've got Roman Amanda<00:00:32.969> Yale<00:00:33.200> founder<00:00:34.200> and<00:00:34.440> lead<00:00:34.739> developer 00:00:35.270 --> 00:00:35.280 align:start position:0% Amanda Yale founder and lead developer 00:00:35.280 --> 00:00:37.670 align:start position:0% Amanda Yale founder and lead developer of<00:00:35.309> ether<00:00:35.790> camp<00:00:36.000> and<00:00:36.780> also<00:00:37.050> lead<00:00:37.260> developer<00:00:37.649> of 00:00:37.670 --> 00:00:37.680 align:start position:0% of ether camp and also lead developer of 00:00:37.680 --> 00:00:39.950 align:start position:0% of ether camp and also lead developer of the<00:00:37.800> etherium<00:00:38.399> Java<00:00:38.730> client<00:00:39.030> we've<00:00:39.809> got 00:00:39.950 --> 00:00:39.960 align:start position:0% the etherium Java client we've got 00:00:39.960 --> 00:00:42.049 align:start position:0% the etherium Java client we've got Joseph<00:00:40.440> chow<00:00:40.680> who<00:00:41.010> is<00:00:41.100> the<00:00:41.250> lead<00:00:41.550> developer 00:00:42.049 --> 00:00:42.059 align:start position:0% Joseph chow who is the lead developer 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software developer<00:00:50.789> a<00:00:51.180> quick<00:00:51.480> left<00:00:51.690> and<00:00:52.649> the<00:00:53.280> developer 00:00:53.810 --> 00:00:53.820 align:start position:0% developer a quick left and the developer 00:00:53.820 --> 00:00:55.819 align:start position:0% developer a quick left and the developer of<00:00:53.850> the<00:00:54.300> etherium<00:00:54.780> alarm<00:00:55.079> clock<00:00:55.350> which<00:00:55.620> many 00:00:55.819 --> 00:00:55.829 align:start position:0% of the etherium alarm clock which many 00:00:55.829 --> 00:00:57.979 align:start position:0% of the etherium alarm clock which many of<00:00:55.890> you<00:00:56.039> may<00:00:56.160> have<00:00:56.190> used<00:00:56.460> and<00:00:56.960> finally<00:00:57.960> a 00:00:57.979 --> 00:00:57.989 align:start position:0% of you may have used and finally a 00:00:57.989 --> 00:00:59.840 align:start position:0% of you may have used and finally a nickel<00:00:58.469> a<00:00:58.559> Michigan<00:00:59.039> who<00:00:59.340> is<00:00:59.489> the<00:00:59.670> lead 00:00:59.840 --> 00:00:59.850 align:start position:0% nickel a Michigan who is the lead 00:00:59.850 --> 00:01:03.889 align:start position:0% nickel a Michigan who is the lead developer<00:01:00.359> at<00:01:00.949> make<00:01:01.949> it<00:01:02.039> out<00:01:02.190> and<00:01:02.430> also<00:01:03.180> CEO<00:01:03.449> of 00:01:03.889 --> 00:01:03.899 align:start position:0% developer at make it out and also CEO of 00:01:03.899 --> 00:01:08.120 align:start position:0% developer at make it out and also CEO of Nexus<00:01:04.439> developments<00:01:05.659> so<00:01:06.659> first<00:01:07.170> of<00:01:07.320> all<00:01:07.409> doing 00:01:08.120 --> 00:01:08.130 align:start position:0% Nexus developments so first of all doing 00:01:08.130 --> 00:01:09.710 align:start position:0% Nexus developments so first of all doing your<00:01:08.250> very<00:01:08.640> brief<00:01:08.880> introduction<00:01:09.390> but<00:01:09.540> if<00:01:09.659> you 00:01:09.710 --> 00:01:09.720 align:start position:0% your very brief introduction but if you 00:01:09.720 --> 00:01:11.539 align:start position:0% your very brief introduction but if you could<00:01:09.840> maybe<00:01:09.990> go<00:01:10.290> from<00:01:10.950> from<00:01:11.130> starting<00:01:11.460> with 00:01:11.539 --> 00:01:11.549 align:start position:0% could maybe go from from starting with 00:01:11.549 --> 00:01:13.429 align:start position:0% could maybe go from from starting with Chris<00:01:11.790> give<00:01:12.689> a<00:01:12.720> bit<00:01:12.960> more<00:01:12.990> in-depth 00:01:13.429 --> 00:01:13.439 align:start position:0% Chris give a bit more in-depth 00:01:13.439 --> 00:01:14.600 align:start position:0% Chris give a bit more in-depth information<00:01:13.530> about<00:01:13.979> you<00:01:14.280> know<00:01:14.369> what<00:01:14.520> you're 00:01:14.600 --> 00:01:14.610 align:start position:0% information about you know what you're 00:01:14.610 --> 00:01:16.780 align:start position:0% information about you know what you're working<00:01:14.880> on<00:01:14.939> a<00:01:15.000> theory<00:01:15.240> and<00:01:15.450> what<00:01:15.570> you<00:01:15.630> do 00:01:16.780 --> 00:01:16.790 align:start position:0% working on a theory and what you do 00:01:16.790 --> 00:01:19.820 align:start position:0% working on a theory and what you do thank<00:01:17.790> you<00:01:18.000> George<00:01:18.479> yeah<00:01:19.259> so<00:01:19.500> my<00:01:19.650> name<00:01:19.799> is 00:01:19.820 --> 00:01:19.830 align:start position:0% thank you George yeah so my name is 00:01:19.830 --> 00:01:22.760 align:start position:0% thank you George yeah so my name is Christine<00:01:20.400> long<00:01:20.549> fist<00:01:20.759> I<00:01:21.090> work<00:01:21.780> at<00:01:22.049> consensus 00:01:22.760 --> 00:01:22.770 align:start position:0% Christine long fist I work at consensus 00:01:22.770 --> 00:01:28.010 align:start position:0% Christine long fist I work at consensus on<00:01:23.210> various<00:01:24.210> projects<00:01:24.780> so<00:01:26.270> one<00:01:27.270> project<00:01:27.689> is<00:01:27.810> is 00:01:28.010 --> 00:01:28.020 align:start position:0% on various projects so one project is is 00:01:28.020 --> 00:01:31.940 align:start position:0% on various projects so one project is is of<00:01:28.290> course<00:01:28.670> you<00:01:29.670> port<00:01:30.030> the<00:01:30.270> digital<00:01:31.110> identity 00:01:31.940 --> 00:01:31.950 align:start position:0% of course you port the digital identity 00:01:31.950 --> 00:01:34.429 align:start position:0% of course you port the digital identity project<00:01:32.310> that<00:01:32.460> I<00:01:32.549> presented<00:01:32.970> about<00:01:33.420> and<00:01:33.720> some 00:01:34.429 --> 00:01:34.439 align:start position:0% project that I presented about and some 00:01:34.439 --> 00:01:37.490 align:start position:0% project that I presented about and some other<00:01:34.619> projects<00:01:35.100> include<00:01:35.460> the<00:01:36.020> balance<00:01:37.020> 3 00:01:37.490 --> 00:01:37.500 align:start position:0% other projects include the balance 3 00:01:37.500 --> 00:01:40.450 align:start position:0% other projects include the balance 3 this<00:01:37.829> is<00:01:37.890> a<00:01:38.250> triple<00:01:39.030> entry<00:01:39.420> accounting<00:01:39.600> system 00:01:40.450 --> 00:01:40.460 align:start position:0% this is a triple entry accounting system 00:01:40.460 --> 00:01:44.179 align:start position:0% this is a triple entry accounting system also<00:01:41.460> have<00:01:42.119> been<00:01:42.270> working<00:01:42.600> on<00:01:42.840> lower<00:01:43.829> level 00:01:44.179 --> 00:01:44.189 align:start position:0% also have been working on lower level 00:01:44.189 --> 00:01:46.969 align:start position:0% also have been working on lower level component<00:01:44.670> like<00:01:44.880> the<00:01:45.090> light<00:01:45.960> wallet<00:01:46.500> it's<00:01:46.770> an 00:01:46.969 --> 00:01:46.979 align:start position:0% component like the light wallet it's an 00:01:46.979 --> 00:01:49.789 align:start position:0% component like the light wallet it's an hierarchical<00:01:47.729> deterministic<00:01:48.540> wallet<00:01:49.439> that 00:01:49.789 --> 00:01:49.799 align:start position:0% hierarchical deterministic wallet that 00:01:49.799 --> 00:01:53.710 align:start position:0% hierarchical deterministic wallet that can<00:01:49.979> be<00:01:50.070> used<00:01:50.250> in<00:01:50.460> the<00:01:50.579> browser<00:01:50.790> and<00:01:51.860> also 00:01:53.710 --> 00:01:53.720 align:start position:0% can be used in the browser and also 00:01:53.720 --> 00:01:58.370 align:start position:0% can be used in the browser and also transacted<00:01:54.720> grid<00:01:55.020> it's<00:01:55.350> an<00:01:55.590> energy<00:01:57.380> related 00:01:58.370 --> 00:01:58.380 align:start position:0% transacted grid it's an energy related 00:01:58.380 --> 00:02:02.630 align:start position:0% transacted grid it's an energy related project<00:01:58.979> where<00:02:00.229> participants<00:02:01.229> in<00:02:01.560> a<00:02:01.950> an 00:02:02.630 --> 00:02:02.640 align:start position:0% project where participants in a an 00:02:02.640 --> 00:02:04.640 align:start position:0% project where participants in a an energy<00:02:03.509> grid<00:02:03.750> can 00:02:04.640 --> 00:02:04.650 align:start position:0% energy grid can 00:02:04.650 --> 00:02:08.749 align:start position:0% energy grid can can<00:02:04.890> transmit<00:02:05.960> energy<00:02:06.960> tokens<00:02:07.830> between<00:02:08.640> each 00:02:08.749 --> 00:02:08.759 align:start position:0% can transmit energy tokens between each 00:02:08.759 --> 00:02:17.450 align:start position:0% can transmit energy tokens between each other<00:02:09.770> so<00:02:10.770> yeah<00:02:11.250> lots<00:02:12.180> of<00:02:12.440> cool<00:02:13.440> stuff<00:02:16.280> my<00:02:17.280> name 00:02:17.450 --> 00:02:17.460 align:start position:0% other so yeah lots of cool stuff my name 00:02:17.460 --> 00:02:20.930 align:start position:0% other so yeah lots of cool stuff my name is<00:02:17.580> Roman<00:02:17.910> a<00:02:18.090> mandolin<00:02:18.840> a<00:02:19.110> I<00:02:19.800> implemented<00:02:20.700> the 00:02:20.930 --> 00:02:20.940 align:start position:0% is Roman a mandolin a I implemented the 00:02:20.940 --> 00:02:25.550 align:start position:0% is Roman a mandolin a I implemented the Java<00:02:21.210> implementation<00:02:22.050> of<00:02:22.680> material<00:02:23.100> and<00:02:24.560> now 00:02:25.550 --> 00:02:25.560 align:start position:0% Java implementation of material and now 00:02:25.560 --> 00:02:28.610 align:start position:0% Java implementation of material and now we<00:02:25.620> work<00:02:26.370> in<00:02:26.610> the<00:02:26.880> ether<00:02:27.150> camp<00:02:27.660> on<00:02:27.990> the<00:02:28.020> tools 00:02:28.610 --> 00:02:28.620 align:start position:0% we work in the ether camp on the tools 00:02:28.620 --> 00:02:32.030 align:start position:0% we work in the ether camp on the tools for<00:02:28.950> developers<00:02:29.040> to<00:02:29.670> make<00:02:30.330> a<00:02:31.040> tearoom 00:02:32.030 --> 00:02:32.040 align:start position:0% for developers to make a tearoom 00:02:32.040 --> 00:02:34.630 align:start position:0% for developers to make a tearoom development<00:02:32.670> easy<00:02:32.880> smart<00:02:33.570> contracts<00:02:34.080> easily 00:02:34.630 --> 00:02:34.640 align:start position:0% development easy smart contracts easily 00:02:34.640 --> 00:02:39.740 align:start position:0% development easy smart contracts easily more<00:02:35.640> understandable<00:02:36.240> and<00:02:38.420> it<00:02:39.420> was<00:02:39.600> actually 00:02:39.740 --> 00:02:39.750 align:start position:0% more understandable and it was actually 00:02:39.750 --> 00:02:43.760 align:start position:0% more understandable and it was actually the<00:02:40.110> talk<00:02:40.320> i<00:02:40.500> added<00:02:40.920> in<00:02:41.280> the<00:02:41.370> morning<00:02:41.700> and<00:02:42.770> what 00:02:43.760 --> 00:02:43.770 align:start position:0% the talk i added in the morning and what 00:02:43.770 --> 00:02:47.390 align:start position:0% the talk i added in the morning and what I<00:02:43.800> didn't<00:02:44.370> have<00:02:44.520> time<00:02:44.760> to<00:02:45.120> announce<00:02:45.959> and<00:02:46.560> I 00:02:47.390 --> 00:02:47.400 align:start position:0% I didn't have time to announce and I 00:02:47.400 --> 00:02:52.310 align:start position:0% I didn't have time to announce and I have<00:02:47.610> time<00:02:47.820> now<00:02:49.790> remember<00:02:50.790> this<00:02:51.000> and<00:02:51.320> yeah 00:02:52.310 --> 00:02:52.320 align:start position:0% have time now remember this and yeah 00:02:52.320 --> 00:02:54.680 align:start position:0% have time now remember this and yeah it's<00:02:52.709> kind<00:02:52.890> of<00:02:52.980> important<00:02:53.520> it's<00:02:53.910> hot<00:02:54.240> ether 00:02:54.680 --> 00:02:54.690 align:start position:0% it's kind of important it's hot ether 00:02:54.690 --> 00:02:57.530 align:start position:0% it's kind of important it's hot ether care<00:02:55.320> I<00:02:55.560> think<00:02:56.100> you<00:02:56.190> should<00:02:56.430> try<00:02:56.700> it<00:02:56.730> and<00:02:57.090> check 00:02:57.530 --> 00:02:57.540 align:start position:0% care I think you should try it and check 00:02:57.540 --> 00:02:59.390 align:start position:0% care I think you should try it and check what<00:02:57.720> we<00:02:57.840> are<00:02:57.900> trying<00:02:58.080> to<00:02:58.200> do<00:02:58.410> there<00:02:58.620> because 00:02:59.390 --> 00:02:59.400 align:start position:0% what we are trying to do there because 00:02:59.400 --> 00:03:03.230 align:start position:0% what we are trying to do there because this<00:02:59.940> kind<00:03:00.270> of<00:03:00.450> thing<00:03:01.380> a<00:03:01.650> connects<00:03:02.550> the<00:03:02.940> idea 00:03:03.230 --> 00:03:03.240 align:start position:0% this kind of thing a connects the idea 00:03:03.240 --> 00:03:06.260 align:start position:0% this kind of thing a connects the idea of<00:03:03.500> points<00:03:04.500> that<00:03:04.680> you<00:03:05.280> get<00:03:05.610> on<00:03:05.880> the<00:03:06.030> blockchain 00:03:06.260 --> 00:03:06.270 align:start position:0% of points that you get on the blockchain 00:03:06.270 --> 00:03:09.320 align:start position:0% of points that you get on the blockchain and<00:03:06.780> also<00:03:07.680> a<00:03:07.890> connection<00:03:08.430> between<00:03:08.640> developers 00:03:09.320 --> 00:03:09.330 align:start position:0% and also a connection between developers 00:03:09.330 --> 00:03:11.690 align:start position:0% and also a connection between developers that<00:03:09.390> doing<00:03:09.870> stuff<00:03:10.170> so<00:03:10.860> we<00:03:11.250> believe<00:03:11.489> it's 00:03:11.690 --> 00:03:11.700 align:start position:0% that doing stuff so we believe it's 00:03:11.700 --> 00:03:16.160 align:start position:0% that doing stuff so we believe it's important<00:03:12.300> and<00:03:12.480> I<00:03:13.430> guess<00:03:14.430> I<00:03:14.610> have<00:03:15.120> I<00:03:15.390> will<00:03:15.750> have 00:03:16.160 --> 00:03:16.170 align:start position:0% important and I guess I have I will have 00:03:16.170 --> 00:03:20.360 align:start position:0% important and I guess I have I will have more<00:03:16.410> time<00:03:16.620> more<00:03:16.980> or<00:03:18.530> more<00:03:19.530> time<00:03:19.830> to<00:03:19.980> comment 00:03:20.360 --> 00:03:20.370 align:start position:0% more time more or more time to comment 00:03:20.370 --> 00:03:25.100 align:start position:0% more time more or more time to comment on<00:03:20.790> different<00:03:21.630> stuff<00:03:21.840> on<00:03:22.410> this<00:03:22.530> panel<00:03:23.870> so<00:03:24.870> cow 00:03:25.100 --> 00:03:25.110 align:start position:0% on different stuff on this panel so cow 00:03:25.110 --> 00:03:30.920 align:start position:0% on different stuff on this panel so cow i<00:03:27.620> implemented<00:03:28.620> this<00:03:28.890> BTC<00:03:29.550> relay<00:03:29.940> I<00:03:30.300> gave<00:03:30.900> a 00:03:30.920 --> 00:03:30.930 align:start position:0% i implemented this BTC relay I gave a 00:03:30.930 --> 00:03:32.630 align:start position:0% i implemented this BTC relay I gave a talk<00:03:31.019> about<00:03:31.290> yesterday<00:03:31.860> but<00:03:32.070> basically<00:03:32.400> it's 00:03:32.630 --> 00:03:32.640 align:start position:0% talk about yesterday but basically it's 00:03:32.640 --> 00:03:35.780 align:start position:0% talk about yesterday but basically it's a<00:03:33.360> smaller<00:03:34.110> version<00:03:34.320> Bitcoin<00:03:35.010> block<00:03:35.340> chain<00:03:35.370> in 00:03:35.780 --> 00:03:35.790 align:start position:0% a smaller version Bitcoin block chain in 00:03:35.790 --> 00:03:38.420 align:start position:0% a smaller version Bitcoin block chain in an<00:03:35.970> theorem<00:03:36.330> contract<00:03:36.810> that<00:03:37.739> can<00:03:37.920> be<00:03:38.010> used<00:03:38.160> to 00:03:38.420 --> 00:03:38.430 align:start position:0% an theorem contract that can be used to 00:03:38.430 --> 00:03:43.190 align:start position:0% an theorem contract that can be used to verify<00:03:39.140> Bitcoin<00:03:40.140> transactions<00:03:40.890> and<00:03:41.959> it's<00:03:42.959> a 00:03:43.190 --> 00:03:43.200 align:start position:0% verify Bitcoin transactions and it's a 00:03:43.200 --> 00:03:46.880 align:start position:0% verify Bitcoin transactions and it's a key<00:03:43.470> part<00:03:43.739> to<00:03:44.780> being<00:03:45.780> able<00:03:45.870> to<00:03:46.019> build<00:03:46.530> a<00:03:46.620> trust 00:03:46.880 --> 00:03:46.890 align:start position:0% key part to being able to build a trust 00:03:46.890 --> 00:03:53.240 align:start position:0% key part to being able to build a trust lyst<00:03:47.160> way<00:03:47.489> to<00:03:48.480> get<00:03:50.150> Bitcoin<00:03:51.150> and<00:03:51.330> ether<00:03:52.250> swap 00:03:53.240 --> 00:03:53.250 align:start position:0% lyst way to get Bitcoin and ether swap 00:03:53.250 --> 00:03:57.020 align:start position:0% lyst way to get Bitcoin and ether swap so<00:03:54.030> if<00:03:54.269> someone<00:03:54.480> wants<00:03:54.750> to<00:03:54.810> buy<00:03:55.760> some<00:03:56.760> ether 00:03:57.020 --> 00:03:57.030 align:start position:0% so if someone wants to buy some ether 00:03:57.030 --> 00:03:59.270 align:start position:0% so if someone wants to buy some ether just<00:03:57.330> using<00:03:57.600> bitcoins<00:03:58.019> it's<00:03:58.739> a<00:03:58.860> trust<00:03:59.100> lyst 00:03:59.270 --> 00:03:59.280 align:start position:0% just using bitcoins it's a trust lyst 00:03:59.280 --> 00:04:02.300 align:start position:0% just using bitcoins it's a trust lyst way<00:03:59.459> to<00:03:59.519> do<00:03:59.700> that<00:03:59.850> so<00:04:00.320> BTC<00:04:01.320> relays<00:04:01.560> a<00:04:01.650> first 00:04:02.300 --> 00:04:02.310 align:start position:0% way to do that so BTC relays a first 00:04:02.310 --> 00:04:07.070 align:start position:0% way to do that so BTC relays a first part<00:04:02.519> to<00:04:02.610> it<00:04:04.459> my<00:04:05.459> name<00:04:05.610> is<00:04:05.760> Piper<00:04:06.150> Miriam<00:04:06.630> and<00:04:06.840> I 00:04:07.070 --> 00:04:07.080 align:start position:0% part to it my name is Piper Miriam and I 00:04:07.080 --> 00:04:09.320 align:start position:0% part to it my name is Piper Miriam and I am<00:04:07.290> the<00:04:07.530> author<00:04:07.799> of<00:04:08.010> the<00:04:08.640> etherium<00:04:09.090> alarm 00:04:09.320 --> 00:04:09.330 align:start position:0% am the author of the etherium alarm 00:04:09.330 --> 00:04:13.129 align:start position:0% am the author of the etherium alarm clock<00:04:09.570> it<00:04:10.310> is<00:04:11.310> a<00:04:11.370> marketplace<00:04:11.820> for<00:04:12.139> contracts 00:04:13.129 --> 00:04:13.139 align:start position:0% clock it is a marketplace for contracts 00:04:13.139 --> 00:04:16.789 align:start position:0% clock it is a marketplace for contracts or<00:04:13.320> people<00:04:13.739> to<00:04:14.579> schedule<00:04:15.410> contract<00:04:16.410> function 00:04:16.789 --> 00:04:16.799 align:start position:0% or people to schedule contract function 00:04:16.799 --> 00:04:18.289 align:start position:0% or people to schedule contract function calls<00:04:17.040> at<00:04:17.310> a<00:04:17.340> specified<00:04:17.700> time 00:04:18.289 --> 00:04:18.299 align:start position:0% calls at a specified time 00:04:18.299 --> 00:04:23.240 align:start position:0% calls at a specified time future<00:04:18.829> aims<00:04:19.829> to<00:04:20.069> be<00:04:20.220> a<00:04:20.250> trust<00:04:20.909> 'less<00:04:22.250> service 00:04:23.240 --> 00:04:23.250 align:start position:0% future aims to be a trust 'less service 00:04:23.250 --> 00:04:27.230 align:start position:0% future aims to be a trust 'less service on<00:04:23.460> the<00:04:23.639> blockchain<00:04:25.610> my<00:04:26.610> name<00:04:26.729> is<00:04:26.849> Nikolai 00:04:27.230 --> 00:04:27.240 align:start position:0% on the blockchain my name is Nikolai 00:04:27.240 --> 00:04:29.540 align:start position:0% on the blockchain my name is Nikolai most<00:04:28.050> of<00:04:28.199> you<00:04:28.289> probably<00:04:28.349> know<00:04:29.069> me<00:04:29.190> as<00:04:29.220> a<00:04:29.340> lead 00:04:29.540 --> 00:04:29.550 align:start position:0% most of you probably know me as a lead 00:04:29.550 --> 00:04:32.180 align:start position:0% most of you probably know me as a lead developer<00:04:30.000> of<00:04:30.030> maker<00:04:30.500> as<00:04:31.500> also<00:04:31.800> introduced<00:04:32.129> a 00:04:32.180 --> 00:04:32.190 align:start position:0% developer of maker as also introduced a 00:04:32.190 --> 00:04:34.339 align:start position:0% developer of maker as also introduced a CEO<00:04:32.430> of<00:04:32.580> Nexus<00:04:33.030> what<00:04:33.419> that<00:04:33.569> is<00:04:33.720> is<00:04:33.930> we 00:04:34.339 --> 00:04:34.349 align:start position:0% CEO of Nexus what that is is we 00:04:34.349 --> 00:04:36.589 align:start position:0% CEO of Nexus what that is is we basically<00:04:34.729> started<00:04:35.729> creating<00:04:36.150> enough 00:04:36.589 --> 00:04:36.599 align:start position:0% basically started creating enough 00:04:36.599 --> 00:04:38.119 align:start position:0% basically started creating enough valuable<00:04:37.169> stuff<00:04:37.409> that<00:04:37.590> we<00:04:37.710> wanted<00:04:37.979> to 00:04:38.119 --> 00:04:38.129 align:start position:0% valuable stuff that we wanted to 00:04:38.129 --> 00:04:39.950 align:start position:0% valuable stuff that we wanted to capitalize<00:04:38.520> on<00:04:38.849> it<00:04:39.150> sooner<00:04:39.479> so<00:04:39.690> that<00:04:39.780> we<00:04:39.840> can 00:04:39.950 --> 00:04:39.960 align:start position:0% capitalize on it sooner so that we can 00:04:39.960 --> 00:04:41.659 align:start position:0% capitalize on it sooner so that we can get<00:04:40.080> done<00:04:40.259> sooner<00:04:40.650> and<00:04:40.770> to<00:04:41.099> do<00:04:41.220> that<00:04:41.340> so<00:04:41.580> we 00:04:41.659 --> 00:04:41.669 align:start position:0% get done sooner and to do that so we 00:04:41.669 --> 00:04:43.640 align:start position:0% get done sooner and to do that so we needed<00:04:41.940> to<00:04:42.030> create<00:04:42.750> a<00:04:42.870> traditional<00:04:43.289> company 00:04:43.640 --> 00:04:43.650 align:start position:0% needed to create a traditional company 00:04:43.650 --> 00:04:44.719 align:start position:0% needed to create a traditional company so<00:04:43.740> that<00:04:43.800> we<00:04:43.919> could<00:04:44.009> interface<00:04:44.370> with<00:04:44.520> the<00:04:44.550> real 00:04:44.719 --> 00:04:44.729 align:start position:0% so that we could interface with the real 00:04:44.729 --> 00:04:47.059 align:start position:0% so that we could interface with the real world<00:04:45.050> but<00:04:46.050> that's<00:04:46.199> still<00:04:46.379> separate<00:04:46.800> from 00:04:47.059 --> 00:04:47.069 align:start position:0% world but that's still separate from 00:04:47.069 --> 00:04:48.550 align:start position:0% world but that's still separate from maker<00:04:47.280> which<00:04:47.669> is<00:04:47.819> its<00:04:48.000> own<00:04:48.150> independent 00:04:48.550 --> 00:04:48.560 align:start position:0% maker which is its own independent 00:04:48.560 --> 00:04:52.070 align:start position:0% maker which is its own independent decentralized<00:04:49.560> organization<00:04:50.509> great<00:04:51.509> I<00:04:51.780> mean 00:04:52.070 --> 00:04:52.080 align:start position:0% decentralized organization great I mean 00:04:52.080 --> 00:04:54.080 align:start position:0% decentralized organization great I mean yeah<00:04:52.199> I'm<00:04:52.409> the<00:04:52.440> external<00:04:53.219> relations<00:04:53.849> director 00:04:54.080 --> 00:04:54.090 align:start position:0% yeah I'm the external relations director 00:04:54.090 --> 00:04:56.779 align:start position:0% yeah I'm the external relations director athyrium<00:04:54.900> I<00:04:55.110> work<00:04:55.560> very<00:04:55.800> closely<00:04:56.280> with<00:04:56.490> a<00:04:56.610> lot 00:04:56.779 --> 00:04:56.789 align:start position:0% athyrium I work very closely with a lot 00:04:56.789 --> 00:04:58.459 align:start position:0% athyrium I work very closely with a lot of<00:04:56.819> the<00:04:56.909> community<00:04:57.300> of<00:04:57.330> metal<00:04:58.020> of<00:04:58.229> you<00:04:58.319> before 00:04:58.459 --> 00:04:58.469 align:start position:0% of the community of metal of you before 00:04:58.469 --> 00:05:00.230 align:start position:0% of the community of metal of you before online<00:04:58.770> it's<00:04:59.219> it's<00:04:59.669> great<00:04:59.879> to<00:04:59.969> see<00:05:00.120> you<00:05:00.150> all 00:05:00.230 --> 00:05:00.240 align:start position:0% online it's it's great to see you all 00:05:00.240 --> 00:05:03.260 align:start position:0% online it's it's great to see you all here<00:05:00.770> so<00:05:01.770> to<00:05:01.889> start<00:05:02.129> with<00:05:02.370> the<00:05:02.699> questions<00:05:03.180> of 00:05:03.260 --> 00:05:03.270 align:start position:0% here so to start with the questions of 00:05:03.270 --> 00:05:05.360 align:start position:0% here so to start with the questions of the<00:05:03.360> panel<00:05:03.629> I<00:05:04.080> think<00:05:04.469> a<00:05:04.530> good<00:05:04.650> one<00:05:04.740> we<00:05:04.830> talked<00:05:05.280> a 00:05:05.360 --> 00:05:05.370 align:start position:0% the panel I think a good one we talked a 00:05:05.370 --> 00:05:06.559 align:start position:0% the panel I think a good one we talked a lot<00:05:05.490> today<00:05:05.550> about<00:05:05.759> some<00:05:05.969> of<00:05:06.180> the<00:05:06.330> technical 00:05:06.559 --> 00:05:06.569 align:start position:0% lot today about some of the technical 00:05:06.569 --> 00:05:09.559 align:start position:0% lot today about some of the technical side<00:05:07.199> of<00:05:07.259> etherium<00:05:08.099> so<00:05:08.340> what<00:05:09.180> I<00:05:09.210> like<00:05:09.360> to<00:05:09.389> ask 00:05:09.559 --> 00:05:09.569 align:start position:0% side of etherium so what I like to ask 00:05:09.569 --> 00:05:11.930 align:start position:0% side of etherium so what I like to ask is<00:05:09.900> what<00:05:10.560> are<00:05:10.590> the<00:05:10.680> non<00:05:10.979> technical<00:05:11.280> challenges 00:05:11.930 --> 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blockchain is that in order<00:05:32.789> to<00:05:33.029> have<00:05:33.210> a<00:05:34.370> public<00:05:35.370> blockchain<00:05:36.210> you 00:05:36.890 --> 00:05:36.900 align:start position:0% order to have a public blockchain you 00:05:36.900 --> 00:05:41.200 align:start position:0% order to have a public blockchain you have<00:05:37.110> to<00:05:37.289> have<00:05:37.529> a<00:05:39.199> kind<00:05:40.199> of<00:05:40.319> an<00:05:40.469> economic 00:05:41.200 --> 00:05:41.210 align:start position:0% have to have a kind of an economic 00:05:41.210 --> 00:05:44.980 align:start position:0% have to have a kind of an economic protection<00:05:42.210> this<00:05:42.419> also<00:05:42.719> relates<00:05:42.990> to<00:05:43.380> what 00:05:44.980 --> 00:05:44.990 align:start position:0% protection this also relates to what 00:05:44.990 --> 00:05:48.469 align:start position:0% protection this also relates to what what<00:05:45.990> Vlad<00:05:46.259> was<00:05:46.560> talking<00:05:46.919> about<00:05:47.190> when<00:05:48.000> he<00:05:48.060> when 00:05:48.469 --> 00:05:48.479 align:start position:0% what Vlad was talking about when he when 00:05:48.479 --> 00:05:52.339 align:start position:0% what Vlad was talking about when he when he<00:05:48.569> described<00:05:49.400> Casper<00:05:50.400> so<00:05:50.759> so<00:05:51.629> you<00:05:51.690> often<00:05:52.020> have 00:05:52.339 --> 00:05:52.349 align:start position:0% he described Casper so so you often have 00:05:52.349 --> 00:05:56.360 align:start position:0% he described Casper so so you often have systems<00:05:52.919> where<00:05:54.560> you<00:05:55.560> want<00:05:55.800> it<00:05:55.860> to<00:05:55.919> be<00:05:56.009> up<00:05:56.190> and 00:05:56.360 --> 00:05:56.370 align:start position:0% systems where you want it to be up and 00:05:56.370 --> 00:05:59.510 align:start position:0% systems where you want it to be up and running<00:05:56.900> but<00:05:57.900> you<00:05:58.259> need<00:05:58.529> an<00:05:58.740> economic 00:05:59.510 --> 00:05:59.520 align:start position:0% running but you need an economic 00:05:59.520 --> 00:06:01.969 align:start position:0% running but you need an economic incentive<00:05:59.669> for<00:06:00.419> for<00:06:00.779> people<00:06:01.139> to<00:06:01.289> use<00:06:01.500> it<00:06:01.740> and 00:06:01.969 --> 00:06:01.979 align:start position:0% incentive for for people to use it and 00:06:01.979 --> 00:06:07.430 align:start position:0% incentive for for people to use it and and<00:06:02.639> so<00:06:03.000> I<00:06:03.330> think<00:06:04.020> so<00:06:04.469> both<00:06:04.710> both<00:06:06.020> Joseph<00:06:07.020> and 00:06:07.430 --> 00:06:07.440 align:start position:0% and so I think so both both Joseph and 00:06:07.440 --> 00:06:10.010 align:start position:0% and so I think so both both Joseph and Piper's<00:06:07.949> projects<00:06:08.909> are<00:06:09.029> examples<00:06:09.539> of<00:06:09.840> this 00:06:10.010 --> 00:06:10.020 align:start position:0% Piper's projects are examples of this 00:06:10.020 --> 00:06:13.399 align:start position:0% Piper's projects are examples of this where<00:06:10.349> where<00:06:11.279> you<00:06:11.460> have<00:06:11.789> and<00:06:12.210> you<00:06:13.199> have<00:06:13.229> a 00:06:13.399 --> 00:06:13.409 align:start position:0% where where you have and you have a 00:06:13.409 --> 00:06:15.920 align:start position:0% where where you have and you have a system<00:06:13.860> that<00:06:14.520> you<00:06:15.120> know<00:06:15.240> you<00:06:15.300> need<00:06:15.539> to<00:06:15.629> decide 00:06:15.920 --> 00:06:15.930 align:start position:0% system that you know you need to decide 00:06:15.930 --> 00:06:17.899 align:start position:0% system that you know you need to decide technically<00:06:16.409> but<00:06:17.069> then<00:06:17.250> you<00:06:17.370> also<00:06:17.520> need<00:06:17.789> to 00:06:17.899 --> 00:06:17.909 align:start position:0% technically but then you also need to 00:06:17.909 --> 00:06:22.129 align:start position:0% technically but then you also need to design<00:06:18.300> the<00:06:19.169> economic<00:06:20.360> models<00:06:21.360> that<00:06:21.840> will 00:06:22.129 --> 00:06:22.139 align:start position:0% design the economic models that will 00:06:22.139 --> 00:06:27.159 align:start position:0% design the economic models that will cause<00:06:22.800> that<00:06:22.830> system<00:06:23.490> to<00:06:23.729> to<00:06:24.210> work<00:06:25.050> as<00:06:25.349> intended 00:06:27.159 --> 00:06:27.169 align:start position:0% cause that system to to work as intended 00:06:27.169 --> 00:06:31.730 align:start position:0% cause that system to to work as intended so<00:06:28.169> maybe<00:06:28.940> yeah<00:06:29.940> maybe<00:06:30.389> Joseph<00:06:30.960> can 00:06:31.730 --> 00:06:31.740 align:start position:0% so maybe yeah maybe Joseph can 00:06:31.740 --> 00:06:35.990 align:start position:0% so maybe yeah maybe Joseph can follow<00:06:32.430> up<00:06:32.930> sure<00:06:33.930> yet<00:06:34.199> yeah<00:06:34.710> one<00:06:34.889> of<00:06:34.919> the<00:06:35.099> main 00:06:35.990 --> 00:06:36.000 align:start position:0% follow up sure yet yeah one of the main 00:06:36.000 --> 00:06:40.360 align:start position:0% follow up sure yet yeah one of the main challenges<00:06:37.340> less<00:06:38.340> of<00:06:38.580> a<00:06:38.669> technical<00:06:39.090> nature<00:06:39.150> is 00:06:40.360 --> 00:06:40.370 align:start position:0% challenges less of a technical nature is 00:06:40.370 --> 00:06:43.790 align:start position:0% challenges less of a technical nature is the<00:06:41.370> yet<00:06:41.940> the<00:06:42.210> crypto<00:06:42.630> economics<00:06:43.500> of<00:06:43.620> the 00:06:43.790 --> 00:06:43.800 align:start position:0% the yet the crypto economics of the 00:06:43.800 --> 00:06:47.360 align:start position:0% the yet the crypto economics of the system<00:06:44.370> and<00:06:45.680> yeah<00:06:46.680> being<00:06:46.919> able<00:06:47.250> to 00:06:47.360 --> 00:06:47.370 align:start position:0% system and yeah being able to 00:06:47.370 --> 00:06:49.400 align:start position:0% system and yeah being able to incentivize<00:06:47.880> the<00:06:48.120> community<00:06:48.539> to<00:06:48.780> do<00:06:48.930> certain 00:06:49.400 --> 00:06:49.410 align:start position:0% incentivize the community to do certain 00:06:49.410 --> 00:06:52.700 align:start position:0% incentivize the community to do certain things<00:06:49.520> because<00:06:50.520> this<00:06:51.300> code<00:06:51.810> is<00:06:52.020> trustless 00:06:52.700 --> 00:06:52.710 align:start position:0% things because this code is trustless 00:06:52.710 --> 00:06:55.610 align:start position:0% things because this code is trustless and<00:06:53.160> fully<00:06:53.430> decentralized<00:06:53.970> so<00:06:54.780> it's<00:06:54.990> just<00:06:55.319> out 00:06:55.610 --> 00:06:55.620 align:start position:0% and fully decentralized so it's just out 00:06:55.620 --> 00:07:00.529 align:start position:0% and fully decentralized so it's just out there<00:06:55.919> and<00:06:57.740> it<00:06:58.740> can't<00:06:58.979> operate<00:06:59.580> on<00:07:00.090> its<00:07:00.360> own 00:07:00.529 --> 00:07:00.539 align:start position:0% there and it can't operate on its own 00:07:00.539 --> 00:07:04.490 align:start position:0% there and it can't operate on its own without<00:07:01.280> outside<00:07:02.300> interactions<00:07:03.300> so<00:07:03.599> you<00:07:04.409> have 00:07:04.490 --> 00:07:04.500 align:start position:0% without outside interactions so you have 00:07:04.500 --> 00:07:06.290 align:start position:0% without outside interactions so you have to<00:07:04.620> be<00:07:04.710> able<00:07:04.770> to<00:07:04.889> find<00:07:05.069> a<00:07:05.310> reasonable<00:07:06.180> way<00:07:06.270> to 00:07:06.290 --> 00:07:06.300 align:start position:0% to be able to find a reasonable way to 00:07:06.300 --> 00:07:09.409 align:start position:0% to be able to find a reasonable way to incentivize<00:07:06.870> the<00:07:07.349> community<00:07:07.919> and<00:07:08.270> it's<00:07:09.270> a 00:07:09.409 --> 00:07:09.419 align:start position:0% incentivize the community and it's a 00:07:09.419 --> 00:07:13.610 align:start position:0% incentivize the community and it's a tricky<00:07:10.400> challenge<00:07:11.400> and<00:07:12.080> it's<00:07:13.080> part<00:07:13.380> of<00:07:13.470> the 00:07:13.610 --> 00:07:13.620 align:start position:0% tricky challenge and it's part of the 00:07:13.620 --> 00:07:18.200 align:start position:0% tricky challenge and it's part of the overall<00:07:14.690> etherium<00:07:15.690> experiment<00:07:16.319> that<00:07:17.210> we'll 00:07:18.200 --> 00:07:18.210 align:start position:0% overall etherium experiment that we'll 00:07:18.210 --> 00:07:21.890 align:start position:0% overall etherium experiment that we'll have<00:07:18.419> to<00:07:18.599> see<00:07:18.780> how<00:07:19.490> how<00:07:20.490> well<00:07:20.699> we<00:07:20.909> can<00:07:21.060> create 00:07:21.890 --> 00:07:21.900 align:start position:0% have to see how how well we can create 00:07:21.900 --> 00:07:25.850 align:start position:0% have to see how how well we can create them<00:07:22.340> plans<00:07:23.340> for<00:07:23.990> incentives<00:07:24.990> to<00:07:25.500> use<00:07:25.620> the 00:07:25.850 --> 00:07:25.860 align:start position:0% them plans for incentives to use the 00:07:25.860 --> 00:07:29.950 align:start position:0% them plans for incentives to use the actual<00:07:25.949> system<00:07:26.580> I<00:07:28.370> think<00:07:29.370> you<00:07:29.460> can<00:07:29.610> actually 00:07:29.950 --> 00:07:29.960 align:start position:0% actual system I think you can actually 00:07:29.960 --> 00:07:33.529 align:start position:0% actual system I think you can actually add<00:07:30.960> to<00:07:31.319> that<00:07:31.349> a<00:07:31.500> little<00:07:31.560> bit<00:07:32.360> one<00:07:33.360> of<00:07:33.449> the 00:07:33.529 --> 00:07:33.539 align:start position:0% add to that a little bit one of the 00:07:33.539 --> 00:07:36.950 align:start position:0% add to that a little bit one of the tricky<00:07:34.020> parts<00:07:34.380> is<00:07:34.789> currently<00:07:35.789> is<00:07:36.030> coming<00:07:36.810> up 00:07:36.950 --> 00:07:36.960 align:start position:0% tricky parts is currently is coming up 00:07:36.960 --> 00:07:39.709 align:start position:0% tricky parts is currently is coming up with<00:07:37.139> a<00:07:37.169> I<00:07:37.680> guess<00:07:38.520> a<00:07:38.669> fee<00:07:39.000> schedule<00:07:39.449> or 00:07:39.709 --> 00:07:39.719 align:start position:0% with a I guess a fee schedule or 00:07:39.719 --> 00:07:41.930 align:start position:0% with a I guess a fee schedule or whatever<00:07:40.620> you<00:07:40.710> want<00:07:40.860> to<00:07:40.919> call<00:07:41.070> it<00:07:41.130> that<00:07:41.310> that 00:07:41.930 --> 00:07:41.940 align:start position:0% whatever you want to call it that that 00:07:41.940 --> 00:07:44.360 align:start position:0% whatever you want to call it that that incentive<00:07:42.539> that<00:07:42.570> motive<00:07:43.139> eise's<00:07:43.469> motivates 00:07:44.360 --> 00:07:44.370 align:start position:0% incentive that motive eise's motivates 00:07:44.370 --> 00:07:46.909 align:start position:0% incentive that motive eise's motivates the<00:07:44.580> outside<00:07:44.969> actor<00:07:45.479> to<00:07:45.780> do<00:07:46.409> the<00:07:46.590> thing<00:07:46.800> you 00:07:46.909 --> 00:07:46.919 align:start position:0% the outside actor to do the thing you 00:07:46.919 --> 00:07:51.740 align:start position:0% the outside actor to do the thing you want<00:07:47.280> them<00:07:47.460> to<00:07:47.900> and<00:07:49.159> I<00:07:50.159> don't<00:07:50.909> think<00:07:51.240> anybody 00:07:51.740 --> 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align:start position:0% worth in a year or ten years and so 00:08:01.650 --> 00:08:04.309 align:start position:0% worth in a year or ten years and so fixing<00:08:02.419> coming<00:08:03.419> up<00:08:03.509> with<00:08:03.690> reasonable<00:08:04.289> prices 00:08:04.309 --> 00:08:04.319 align:start position:0% fixing coming up with reasonable prices 00:08:04.319 --> 00:08:08.050 align:start position:0% fixing coming up with reasonable prices is<00:08:05.449> that<00:08:06.449> will<00:08:06.810> stand<00:08:07.020> the<00:08:07.139> test<00:08:07.229> of<00:08:07.530> time<00:08:07.590> is 00:08:08.050 --> 00:08:08.060 align:start position:0% is that will stand the test of time is 00:08:08.060 --> 00:08:12.379 align:start position:0% is that will stand the test of time is non-trivial<00:08:09.060> right<00:08:09.479> now<00:08:10.340> so<00:08:11.340> hyper<00:08:11.969> maybe<00:08:12.270> you 00:08:12.379 --> 00:08:12.389 align:start position:0% non-trivial right now so hyper maybe you 00:08:12.389 --> 00:08:14.779 align:start position:0% non-trivial right now so hyper maybe you can<00:08:12.539> describe<00:08:12.690> the<00:08:13.380> your<00:08:14.190> alarm<00:08:14.669> clock 00:08:14.779 --> 00:08:14.789 align:start position:0% can describe the your alarm clock 00:08:14.789 --> 00:08:19.480 align:start position:0% can describe the your alarm clock service<00:08:15.300> and<00:08:15.569> how<00:08:16.050> the<00:08:16.110> this<00:08:17.479> economic 00:08:19.480 --> 00:08:19.490 align:start position:0% service and how the this economic 00:08:19.490 --> 00:08:24.320 align:start position:0% service and how the this economic considerations<00:08:20.490> fit<00:08:20.729> into<00:08:20.909> that<00:08:22.550> um<00:08:23.550> it's<00:08:24.060> a 00:08:24.320 --> 00:08:24.330 align:start position:0% considerations fit into that um it's a 00:08:24.330 --> 00:08:26.839 align:start position:0% considerations fit into that um it's a interesting<00:08:25.169> problem<00:08:25.830> and<00:08:26.009> I<00:08:26.099> do<00:08:26.159> not<00:08:26.550> claim 00:08:26.839 --> 00:08:26.849 align:start position:0% interesting problem and I do not claim 00:08:26.849 --> 00:08:29.540 align:start position:0% interesting problem and I do not claim to<00:08:27.210> have<00:08:27.360> it<00:08:27.539> fully<00:08:27.990> solved<00:08:28.650> but<00:08:28.979> that's<00:08:29.250> why 00:08:29.540 --> 00:08:29.550 align:start position:0% to have it fully solved but that's why 00:08:29.550 --> 00:08:33.519 align:start position:0% to have it fully solved but that's why I'm<00:08:29.880> iterating<00:08:30.840> on<00:08:30.930> it<00:08:31.080> so<00:08:31.760> essentially<00:08:32.760> any 00:08:33.519 --> 00:08:33.529 align:start position:0% I'm iterating on it so essentially any 00:08:33.529 --> 00:08:36.709 align:start position:0% I'm iterating on it so essentially any person<00:08:34.529> or<00:08:34.829> contract<00:08:35.520> can<00:08:35.849> essentially 00:08:36.709 --> 00:08:36.719 align:start position:0% person or contract can essentially 00:08:36.719 --> 00:08:39.529 align:start position:0% person or contract can essentially schedule<00:08:37.229> a<00:08:37.349> function<00:08:37.860> call<00:08:38.270> that<00:08:39.270> is 00:08:39.529 --> 00:08:39.539 align:start position:0% schedule a function call that is 00:08:39.539 --> 00:08:41.390 align:start position:0% schedule a function call that is actually<00:08:39.900> created<00:08:40.349> as<00:08:40.469> its<00:08:40.650> own<00:08:40.829> standalone 00:08:41.390 --> 00:08:41.400 align:start position:0% actually created as its own standalone 00:08:41.400 --> 00:08:42.839 align:start position:0% actually created as its own standalone contract<00:08:42.089> and 00:08:42.839 --> 00:08:42.849 align:start position:0% contract and 00:08:42.849 --> 00:08:45.840 align:start position:0% contract and what<00:08:43.779> the<00:08:44.350> alarm<00:08:44.560> service<00:08:45.160> does<00:08:45.399> is<00:08:45.639> it 00:08:45.840 --> 00:08:45.850 align:start position:0% what the alarm service does is it 00:08:45.850 --> 00:08:49.220 align:start position:0% what the alarm service does is it essentially<00:08:46.329> sets<00:08:46.569> up<00:08:46.690> a<00:08:46.810> marketplace<00:08:47.380> where 00:08:49.220 --> 00:08:49.230 align:start position:0% essentially sets up a marketplace where 00:08:49.230 --> 00:08:51.360 align:start position:0% essentially sets up a marketplace where somebody<00:08:50.230> on<00:08:50.350> the<00:08:50.440> outside<00:08:50.470> of<00:08:50.949> the<00:08:51.069> network 00:08:51.360 --> 00:08:51.370 align:start position:0% somebody on the outside of the network 00:08:51.370 --> 00:08:54.030 align:start position:0% somebody on the outside of the network can<00:08:51.790> monitor<00:08:52.389> and<00:08:52.600> see<00:08:53.139> that<00:08:53.350> there<00:08:53.500> is<00:08:53.620> a<00:08:53.680> call 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the 00:09:03.100 --> 00:09:06.059 align:start position:0% that transaction it flows through the alarm<00:09:03.370> service<00:09:03.819> execute<00:09:04.600> the<00:09:04.810> call<00:09:05.050> and<00:09:05.350> they 00:09:06.059 --> 00:09:06.069 align:start position:0% alarm service execute the call and they 00:09:06.069 --> 00:09:09.269 align:start position:0% alarm service execute the call and they get<00:09:06.250> paid<00:09:06.490> some<00:09:06.819> amount<00:09:07.120> and<00:09:08.279> essentially 00:09:09.269 --> 00:09:09.279 align:start position:0% get paid some amount and essentially 00:09:09.279 --> 00:09:12.439 align:start position:0% get paid some amount and essentially it's<00:09:09.519> figuring<00:09:10.029> out<00:09:10.209> what<00:09:11.050> is<00:09:11.230> that<00:09:11.560> amount 00:09:12.439 --> 00:09:12.449 align:start position:0% it's figuring out what is that amount 00:09:12.449 --> 00:09:15.930 align:start position:0% it's figuring out what is that amount that<00:09:13.449> makes<00:09:14.079> sense<00:09:14.410> for<00:09:14.649> them<00:09:14.829> to<00:09:14.860> get<00:09:15.100> paid<00:09:15.610> is 00:09:15.930 --> 00:09:15.940 align:start position:0% that makes sense for them to get paid is 00:09:15.940 --> 00:09:18.090 align:start position:0% that makes sense for them to get paid is it<00:09:16.089> one<00:09:16.389> either<00:09:16.569> is<00:09:16.899> it<00:09:16.930> a<00:09:17.139> percentage<00:09:17.709> of<00:09:17.889> the 00:09:18.090 --> 00:09:18.100 align:start position:0% it one either is it a percentage of the 00:09:18.100 --> 00:09:21.509 align:start position:0% it one either is it a percentage of the gas<00:09:18.279> costs<00:09:18.940> is<00:09:19.120> it<00:09:19.380> an<00:09:20.380> open<00:09:20.709> marketplace<00:09:21.069> that 00:09:21.509 --> 00:09:21.519 align:start position:0% gas costs is it an open marketplace that 00:09:21.519 --> 00:09:24.150 align:start position:0% gas costs is it an open marketplace that allows<00:09:21.759> people<00:09:22.000> to<00:09:22.180> specify<00:09:22.660> whatever<00:09:23.649> prices 00:09:24.150 --> 00:09:24.160 align:start position:0% allows people to specify whatever prices 00:09:24.160 --> 00:09:27.120 align:start position:0% allows people to specify whatever prices they<00:09:25.120> would<00:09:25.269> like<00:09:25.800> so<00:09:26.800> some<00:09:26.949> of<00:09:26.980> those 00:09:27.120 --> 00:09:27.130 align:start position:0% they would like so some of those 00:09:27.130 --> 00:09:30.720 align:start position:0% they would like so some of those economic<00:09:27.750> incentives<00:09:28.750> are<00:09:29.050> are<00:09:29.380> I<00:09:30.100> don't<00:09:30.610> want 00:09:30.720 --> 00:09:30.730 align:start position:0% economic incentives are are I don't want 00:09:30.730 --> 00:09:32.519 align:start position:0% economic incentives are are I don't want to<00:09:30.790> say<00:09:30.850> unsolved<00:09:31.420> problems<00:09:31.930> but<00:09:32.259> I<00:09:32.290> don't 00:09:32.519 --> 00:09:32.529 align:start position:0% to say unsolved problems but I don't 00:09:32.529 --> 00:09:34.319 align:start position:0% to say unsolved problems but I don't think<00:09:32.740> we'll<00:09:32.829> know<00:09:33.069> if<00:09:33.399> they're<00:09:33.759> solved<00:09:34.180> until 00:09:34.319 --> 00:09:34.329 align:start position:0% think we'll know if they're solved until 00:09:34.329 --> 00:09:38.280 align:start position:0% think we'll know if they're solved until we<00:09:34.630> start<00:09:34.899> seeing<00:09:35.550> a<00:09:36.550> lot<00:09:37.509> of<00:09:37.540> traction<00:09:37.959> and 00:09:38.280 --> 00:09:38.290 align:start position:0% we start seeing a lot of traction and 00:09:38.290 --> 00:09:42.150 align:start position:0% we start seeing a lot of traction and usership<00:09:38.620> on<00:09:38.949> these<00:09:39.160> sort<00:09:39.819> of<00:09:39.850> services<00:09:41.160> one 00:09:42.150 --> 00:09:42.160 align:start position:0% usership on these sort of services one 00:09:42.160 --> 00:09:46.949 align:start position:0% usership on these sort of services one thing<00:09:42.399> I'd<00:09:42.790> like<00:09:42.850> threat<00:09:43.769> do<00:09:44.769> it<00:09:45.009> oh<00:09:45.779> yes<00:09:46.779> so 00:09:46.949 --> 00:09:46.959 align:start position:0% thing I'd like threat do it oh yes so 00:09:46.959 --> 00:09:48.449 align:start position:0% thing I'd like threat do it oh yes so the<00:09:46.990> previous<00:09:47.410> talk<00:09:47.620> one<00:09:48.040> of<00:09:48.069> the<00:09:48.250> earlier 00:09:48.449 --> 00:09:48.459 align:start position:0% the previous talk one of the earlier 00:09:48.459 --> 00:09:50.670 align:start position:0% the previous talk one of the earlier talks<00:09:48.759> was<00:09:49.029> just<00:09:49.240> with<00:09:49.660> with<00:09:50.019> Simon<00:09:50.410> and<00:09:50.439> he 00:09:50.670 --> 00:09:50.680 align:start position:0% talks was just with with Simon and he 00:09:50.680 --> 00:09:52.769 align:start position:0% talks was just with with Simon and he was<00:09:50.800> mentioning<00:09:51.160> about<00:09:51.250> tokens<00:09:51.779> so 00:09:52.769 --> 00:09:52.779 align:start position:0% was mentioning about tokens so 00:09:52.779 --> 00:09:54.150 align:start position:0% was mentioning about tokens so definitely<00:09:53.199> tokens<00:09:53.589> is<00:09:53.769> going<00:09:54.040> to<00:09:54.100> be 00:09:54.150 --> 00:09:54.160 align:start position:0% definitely tokens is going to be 00:09:54.160 --> 00:09:56.970 align:start position:0% definitely tokens is going to be interesting<00:09:54.399> in<00:09:54.939> this<00:09:55.269> part<00:09:55.630> right<00:09:55.980> now 00:09:56.970 --> 00:09:56.980 align:start position:0% interesting in this part right now 00:09:56.980 --> 00:09:59.370 align:start position:0% interesting in this part right now neither<00:09:57.819> of<00:09:57.970> us<00:09:58.149> are<00:09:58.389> implementing<00:09:58.930> tokens 00:09:59.370 --> 00:09:59.380 align:start position:0% neither of us are implementing tokens 00:09:59.380 --> 00:10:04.290 align:start position:0% neither of us are implementing tokens but<00:10:01.259> tokens<00:10:02.259> was<00:10:02.589> one<00:10:02.829> of<00:10:02.949> this<00:10:03.100> one<00:10:04.029> of<00:10:04.149> the 00:10:04.290 --> 00:10:04.300 align:start position:0% but tokens was one of this one of the 00:10:04.300 --> 00:10:08.189 align:start position:0% but tokens was one of this one of the plans<00:10:05.019> that<00:10:05.230> we<00:10:06.009> we<00:10:06.519> did<00:10:06.699> consider<00:10:07.209> and<00:10:07.540> just 00:10:08.189 --> 00:10:08.199 align:start position:0% plans that we we did consider and just 00:10:08.199 --> 00:10:10.259 align:start position:0% plans that we we did consider and just to<00:10:08.290> throw<00:10:08.439> out<00:10:08.560> this<00:10:08.740> idea<00:10:09.100> out<00:10:09.160> there<00:10:09.310> there's 00:10:10.259 --> 00:10:10.269 align:start position:0% to throw out this idea out there there's 00:10:10.269 --> 00:10:13.199 align:start position:0% to throw out this idea out there there's there's<00:10:10.810> there's<00:10:10.870> two<00:10:11.170> variations<00:10:11.759> so<00:10:12.759> one<00:10:12.970> is 00:10:13.199 --> 00:10:13.209 align:start position:0% there's there's two variations so one is 00:10:13.209 --> 00:10:20.009 align:start position:0% there's there's two variations so one is that<00:10:16.410> one<00:10:17.410> is<00:10:17.529> that<00:10:17.680> the<00:10:18.449> let's<00:10:19.449> say<00:10:19.600> that<00:10:19.810> the 00:10:20.009 --> 00:10:20.019 align:start position:0% that one is that the let's say that the 00:10:20.019 --> 00:10:24.059 align:start position:0% that one is that the let's say that the one<00:10:21.009> who<00:10:21.130> helps<00:10:21.759> the<00:10:21.970> service<00:10:22.439> gets<00:10:23.439> get<00:10:23.800> some 00:10:24.059 --> 00:10:24.069 align:start position:0% one who helps the service gets get some 00:10:24.069 --> 00:10:27.720 align:start position:0% one who helps the service gets get some tokens<00:10:24.490> and<00:10:24.899> then<00:10:25.899> the<00:10:26.680> one<00:10:26.860> who<00:10:27.040> uses<00:10:27.250> the 00:10:27.720 --> 00:10:27.730 align:start position:0% tokens and then the one who uses the 00:10:27.730 --> 00:10:29.910 align:start position:0% tokens and then the one who uses the service<00:10:28.149> they<00:10:28.420> would<00:10:29.230> get<00:10:29.380> charged<00:10:29.709> those 00:10:29.910 --> 00:10:29.920 align:start position:0% service they would get charged those 00:10:29.920 --> 00:10:34.019 align:start position:0% service they would get charged those tokens<00:10:30.540> that's<00:10:31.540> a<00:10:31.660> basic<00:10:32.759> that's<00:10:33.759> a<00:10:33.850> basic 00:10:34.019 --> 00:10:34.029 align:start position:0% tokens that's a basic that's a basic 00:10:34.029 --> 00:10:37.379 align:start position:0% tokens that's a basic that's a basic system<00:10:34.569> so<00:10:35.470> they<00:10:35.860> might<00:10:36.250> people<00:10:36.939> who<00:10:37.089> helped 00:10:37.379 --> 00:10:37.389 align:start position:0% system so they might people who helped 00:10:37.389 --> 00:10:39.059 align:start position:0% system so they might people who helped the<00:10:37.509> alarm<00:10:37.720> clock<00:10:37.959> they'll<00:10:38.380> get<00:10:38.589> alarm<00:10:38.889> clock 00:10:39.059 --> 00:10:39.069 align:start position:0% the alarm clock they'll get alarm clock 00:10:39.069 --> 00:10:40.980 align:start position:0% the alarm clock they'll get alarm clock tokens<00:10:39.490> and<00:10:39.759> if<00:10:40.329> you<00:10:40.480> wanna<00:10:40.600> use<00:10:40.720> the<00:10:40.839> alarm 00:10:40.980 --> 00:10:40.990 align:start position:0% tokens and if you wanna use the alarm 00:10:40.990 --> 00:10:42.329 align:start position:0% tokens and if you wanna use the alarm clock<00:10:41.139> you<00:10:41.319> have<00:10:41.410> to<00:10:41.529> spend<00:10:41.860> alarm<00:10:42.100> clock 00:10:42.329 --> 00:10:42.339 align:start position:0% clock you have to spend alarm clock 00:10:42.339 --> 00:10:45.689 align:start position:0% clock you have to spend alarm clock tokens<00:10:42.899> that's<00:10:43.899> a<00:10:44.019> simple<00:10:44.290> one<00:10:44.470> but<00:10:44.699> one 00:10:45.689 --> 00:10:45.699 align:start position:0% tokens that's a simple one but one 00:10:45.699 --> 00:10:46.920 align:start position:0% tokens that's a simple one but one interesting<00:10:46.120> idea<00:10:46.329> that<00:10:46.360> i<00:10:46.480> do<00:10:46.600> want<00:10:46.839> to 00:10:46.920 --> 00:10:46.930 align:start position:0% interesting idea that i do want to 00:10:46.930 --> 00:10:49.259 align:start position:0% interesting idea that i do want to mention<00:10:47.860> out<00:10:48.130> there<00:10:48.339> though<00:10:48.579> because<00:10:49.120> other 00:10:49.259 --> 00:10:49.269 align:start position:0% mention out there though because other 00:10:49.269 --> 00:10:52.980 align:start position:0% mention out there though because other people<00:10:49.569> might<00:10:49.689> have<00:10:49.720> ideas<00:10:50.410> as<00:10:50.529> well<00:10:50.649> is<00:10:51.990> so 00:10:52.980 --> 00:10:52.990 align:start position:0% people might have ideas as well is so 00:10:52.990 --> 00:10:55.700 align:start position:0% people might have ideas as well is so you<00:10:53.740> still<00:10:54.010> give<00:10:54.220> out<00:10:54.370> your 00:10:55.700 --> 00:10:55.710 align:start position:0% you still give out your 00:10:55.710 --> 00:10:58.190 align:start position:0% you still give out your your<00:10:55.920> contract<00:10:56.640> tokens<00:10:57.120> for<00:10:57.750> the<00:10:57.900> people<00:10:58.140> who 00:10:58.190 --> 00:10:58.200 align:start position:0% your contract tokens for the people who 00:10:58.200 --> 00:11:00.320 align:start position:0% your contract tokens for the people who helped<00:10:58.440> the<00:10:58.590> service<00:10:58.950> but<00:10:59.910> then<00:11:00.060> for<00:11:00.210> the 00:11:00.320 --> 00:11:00.330 align:start position:0% helped the service but then for the 00:11:00.330 --> 00:11:02.570 align:start position:0% helped the service but then for the people<00:11:00.600> who<00:11:00.630> use<00:11:00.990> it<00:11:01.200> you<00:11:01.980> may<00:11:02.160> be<00:11:02.220> able<00:11:02.430> to 00:11:02.570 --> 00:11:02.580 align:start position:0% people who use it you may be able to 00:11:02.580 --> 00:11:05.990 align:start position:0% people who use it you may be able to charge<00:11:02.850> them<00:11:03.210> actual<00:11:04.020> ether<00:11:04.470> and<00:11:04.710> then<00:11:05.610> that 00:11:05.990 --> 00:11:06.000 align:start position:0% charge them actual ether and then that 00:11:06.000 --> 00:11:09.160 align:start position:0% charge them actual ether and then that actual<00:11:06.390> ether<00:11:06.750> just<00:11:07.050> goes<00:11:07.260> into<00:11:07.830> a<00:11:07.860> pool<00:11:08.310> and 00:11:09.160 --> 00:11:09.170 align:start position:0% actual ether just goes into a pool and 00:11:09.170 --> 00:11:11.390 align:start position:0% actual ether just goes into a pool and then<00:11:10.170> all<00:11:10.410> the<00:11:10.470> people<00:11:10.890> who<00:11:11.010> have<00:11:11.100> your 00:11:11.390 --> 00:11:11.400 align:start position:0% then all the people who have your 00:11:11.400 --> 00:11:14.480 align:start position:0% then all the people who have your contract<00:11:11.910> tokens<00:11:12.390> they<00:11:13.380> can<00:11:13.590> cash<00:11:13.830> out<00:11:14.130> and 00:11:14.480 --> 00:11:14.490 align:start position:0% contract tokens they can cash out and 00:11:14.490 --> 00:11:19.400 align:start position:0% contract tokens they can cash out and then<00:11:15.330> get<00:11:16.140> a<00:11:16.350> percentage<00:11:16.950> of<00:11:17.580> those<00:11:18.540> actual 00:11:19.400 --> 00:11:19.410 align:start position:0% then get a percentage of those actual 00:11:19.410 --> 00:11:22.040 align:start position:0% then get a percentage of those actual ether<00:11:19.650> that's<00:11:20.280> in<00:11:20.460> that<00:11:20.550> pool<00:11:20.850> so<00:11:21.840> right<00:11:22.020> now 00:11:22.040 --> 00:11:22.050 align:start position:0% ether that's in that pool so right now 00:11:22.050 --> 00:11:24.440 align:start position:0% ether that's in that pool so right now if<00:11:22.260> there's<00:11:22.620> only<00:11:22.800> like<00:11:23.400> two<00:11:23.640> people<00:11:24.030> who<00:11:24.360> are 00:11:24.440 --> 00:11:24.450 align:start position:0% if there's only like two people who are 00:11:24.450 --> 00:11:26.150 align:start position:0% if there's only like two people who are helping<00:11:24.900> the<00:11:24.960> alarm<00:11:25.350> clock<00:11:25.500> service<00:11:25.950> or 00:11:26.150 --> 00:11:26.160 align:start position:0% helping the alarm clock service or 00:11:26.160 --> 00:11:27.380 align:start position:0% helping the alarm clock service or something<00:11:26.310> and<00:11:26.610> they<00:11:26.700> both<00:11:26.880> own<00:11:26.910> fifty 00:11:27.380 --> 00:11:27.390 align:start position:0% something and they both own fifty 00:11:27.390 --> 00:11:33.440 align:start position:0% something and they both own fifty percent<00:11:27.720> of<00:11:27.950> the<00:11:28.950> tokens<00:11:29.750> then<00:11:31.280> then<00:11:32.450> whoever 00:11:33.440 --> 00:11:33.450 align:start position:0% percent of the tokens then then whoever 00:11:33.450 --> 00:11:36.080 align:start position:0% percent of the tokens then then whoever gets<00:11:33.770> whenever<00:11:34.770> fees<00:11:35.340> are<00:11:35.520> starting<00:11:35.850> to<00:11:35.880> be 00:11:36.080 --> 00:11:36.090 align:start position:0% gets whenever fees are starting to be 00:11:36.090 --> 00:11:38.180 align:start position:0% gets whenever fees are starting to be generated<00:11:36.420> once<00:11:37.230> one<00:11:37.380> of<00:11:37.410> them<00:11:37.680> catches<00:11:38.070> out 00:11:38.180 --> 00:11:38.190 align:start position:0% generated once one of them catches out 00:11:38.190 --> 00:11:39.530 align:start position:0% generated once one of them catches out they'll<00:11:38.400> get<00:11:38.550> fifty<00:11:38.820> percent<00:11:39.090> of<00:11:39.240> the<00:11:39.300> ether 00:11:39.530 --> 00:11:39.540 align:start position:0% they'll get fifty percent of the ether 00:11:39.540 --> 00:11:41.960 align:start position:0% they'll get fifty percent of the ether fees<00:11:39.750> at<00:11:40.470> that<00:11:40.680> time<00:11:40.950> but<00:11:41.580> maybe<00:11:41.700> if<00:11:41.880> they 00:11:41.960 --> 00:11:41.970 align:start position:0% fees at that time but maybe if they 00:11:41.970 --> 00:11:43.340 align:start position:0% fees at that time but maybe if they think<00:11:42.060> things<00:11:42.450> are<00:11:42.570> going<00:11:42.750> to<00:11:42.840> still<00:11:43.020> grow<00:11:43.200> in 00:11:43.340 --> 00:11:43.350 align:start position:0% think things are going to still grow in 00:11:43.350 --> 00:11:45.320 align:start position:0% think things are going to still grow in the<00:11:43.440> future<00:11:43.520> they<00:11:44.520> might<00:11:44.670> actually<00:11:44.850> just<00:11:45.060> hold 00:11:45.320 --> 00:11:45.330 align:start position:0% the future they might actually just hold 00:11:45.330 --> 00:11:47.630 align:start position:0% the future they might actually just hold on<00:11:45.420> to<00:11:45.570> those<00:11:45.690> tokens<00:11:46.160> it<00:11:47.160> gets<00:11:47.340> a<00:11:47.460> little 00:11:47.630 --> 00:11:47.640 align:start position:0% on to those tokens it gets a little 00:11:47.640 --> 00:11:50.000 align:start position:0% on to those tokens it gets a little similar<00:11:47.940> to<00:11:48.270> Bitcoin<00:11:48.990> and<00:11:49.290> I<00:11:49.530> think<00:11:49.890> it's 00:11:50.000 --> 00:11:50.010 align:start position:0% similar to Bitcoin and I think it's 00:11:50.010 --> 00:11:52.880 align:start position:0% similar to Bitcoin and I think it's quite<00:11:50.310> an<00:11:50.550> interesting<00:11:50.790> idea<00:11:51.120> because<00:11:51.890> it 00:11:52.880 --> 00:11:52.890 align:start position:0% quite an interesting idea because it 00:11:52.890 --> 00:11:55.010 align:start position:0% quite an interesting idea because it rewards<00:11:53.400> the<00:11:53.490> early<00:11:53.790> users<00:11:54.120> quite<00:11:54.450> a<00:11:54.480> bit<00:11:54.750> it 00:11:55.010 --> 00:11:55.020 align:start position:0% rewards the early users quite a bit it 00:11:55.020 --> 00:11:56.480 align:start position:0% rewards the early users quite a bit it might<00:11:55.290> be<00:11:55.410> very<00:11:55.620> easy<00:11:55.800> right<00:11:56.100> now<00:11:56.130> to<00:11:56.280> get 00:11:56.480 --> 00:11:56.490 align:start position:0% might be very easy right now to get 00:11:56.490 --> 00:11:59.990 align:start position:0% might be very easy right now to get those<00:11:57.170> contract<00:11:58.170> tokens<00:11:58.560> and<00:11:58.830> in<00:11:59.790> the<00:11:59.880> future 00:11:59.990 --> 00:12:00.000 align:start position:0% those contract tokens and in the future 00:12:00.000 --> 00:12:03.620 align:start position:0% those contract tokens and in the future if<00:12:00.450> the<00:12:01.580> middleware<00:12:02.580> service<00:12:02.940> gets<00:12:03.150> used<00:12:03.480> a 00:12:03.620 --> 00:12:03.630 align:start position:0% if the middleware service gets used a 00:12:03.630 --> 00:12:05.630 align:start position:0% if the middleware service gets used a lot<00:12:03.660> then<00:12:04.140> there<00:12:05.040> could<00:12:05.160> be<00:12:05.220> a<00:12:05.310> lot<00:12:05.430> of<00:12:05.460> fees 00:12:05.630 --> 00:12:05.640 align:start position:0% lot then there could be a lot of fees 00:12:05.640 --> 00:12:08.000 align:start position:0% lot then there could be a lot of fees generated<00:12:05.850> to<00:12:06.630> reward<00:12:06.930> the<00:12:07.050> early<00:12:07.260> early 00:12:08.000 --> 00:12:08.010 align:start position:0% generated to reward the early early 00:12:08.010 --> 00:12:12.620 align:start position:0% generated to reward the early early helpers<00:12:08.460> of<00:12:08.490> the<00:12:08.670> community<00:12:11.060> the<00:12:12.060> question<00:12:12.510> of 00:12:12.620 --> 00:12:12.630 align:start position:0% helpers of the community the question of 00:12:12.630 --> 00:12:15.550 align:start position:0% helpers of the community the question of what<00:12:13.200> gives<00:12:13.500> you<00:12:13.620> value<00:12:13.920> to<00:12:14.100> any<00:12:14.250> token<00:12:14.670> and 00:12:15.550 --> 00:12:15.560 align:start position:0% what gives you value to any token and 00:12:15.560 --> 00:12:19.550 align:start position:0% what gives you value to any token and maybe<00:12:16.560> I'll<00:12:17.100> comment<00:12:17.400> I<00:12:17.760> want<00:12:18.300> to<00:12:18.390> add<00:12:18.540> that<00:12:18.570> we 00:12:19.550 --> 00:12:19.560 align:start position:0% maybe I'll comment I want to add that we 00:12:19.560 --> 00:12:24.260 align:start position:0% maybe I'll comment I want to add that we see<00:12:20.220> in<00:12:20.430> the<00:12:21.290> old<00:12:22.290> I'll<00:12:22.710> coin<00:12:23.160> market<00:12:23.430> that 00:12:24.260 --> 00:12:24.270 align:start position:0% see in the old I'll coin market that 00:12:24.270 --> 00:12:26.360 align:start position:0% see in the old I'll coin market that only<00:12:24.540> speculation<00:12:25.110> does<00:12:25.500> not<00:12:25.770> give<00:12:26.040> value<00:12:26.340> for 00:12:26.360 --> 00:12:26.370 align:start position:0% only speculation does not give value for 00:12:26.370 --> 00:12:29.720 align:start position:0% only speculation does not give value for a<00:12:26.610> long-term<00:12:26.790> right<00:12:27.780> because<00:12:28.440> you<00:12:29.370> remember 00:12:29.720 --> 00:12:29.730 align:start position:0% a long-term right because you remember 00:12:29.730 --> 00:12:32.410 align:start position:0% a long-term right because you remember this<00:12:29.910> time<00:12:30.540> when<00:12:30.900> there<00:12:31.230> was<00:12:31.440> a<00:12:31.470> thousands<00:12:32.220> of 00:12:32.410 --> 00:12:32.420 align:start position:0% this time when there was a thousands of 00:12:32.420 --> 00:12:36.170 align:start position:0% this time when there was a thousands of alcohols<00:12:33.420> coming<00:12:33.930> out<00:12:34.080> each<00:12:34.470> day<00:12:34.530> and<00:12:35.180> nobody 00:12:36.170 --> 00:12:36.180 align:start position:0% alcohols coming out each day and nobody 00:12:36.180 --> 00:12:39.590 align:start position:0% alcohols coming out each day and nobody from<00:12:36.540> them<00:12:36.720> survived<00:12:37.190> so<00:12:38.190> Allah<00:12:38.970> to<00:12:39.120> you<00:12:39.270> we 00:12:39.590 --> 00:12:39.600 align:start position:0% from them survived so Allah to you we 00:12:39.600 --> 00:12:41.330 align:start position:0% from them survived so Allah to you we have<00:12:39.810> very<00:12:40.200> easy<00:12:40.530> way<00:12:40.560> now<00:12:40.860> to<00:12:40.890> create<00:12:41.310> a 00:12:41.330 --> 00:12:41.340 align:start position:0% have very easy way now to create a 00:12:41.340 --> 00:12:43.400 align:start position:0% have very easy way now to create a decentralized<00:12:41.730> token<00:12:42.210> right<00:12:42.390> we<00:12:42.900> just<00:12:43.170> need 00:12:43.400 --> 00:12:43.410 align:start position:0% decentralized token right we just need 00:12:43.410 --> 00:12:45.830 align:start position:0% decentralized token right we just need to<00:12:43.710> find<00:12:44.010> a<00:12:44.340> good<00:12:44.670> way<00:12:44.850> to<00:12:44.910> tie<00:12:45.270> it<00:12:45.330> to<00:12:45.660> a 00:12:45.830 --> 00:12:45.840 align:start position:0% to find a good way to tie it to a 00:12:45.840 --> 00:12:48.230 align:start position:0% to find a good way to tie it to a service<00:12:46.590> that's<00:12:47.250> going<00:12:47.610> to<00:12:47.730> be<00:12:47.820> valuable<00:12:48.150> for 00:12:48.230 --> 00:12:48.240 align:start position:0% service that's going to be valuable for 00:12:48.240 --> 00:12:52.370 align:start position:0% service that's going to be valuable for user<00:12:48.630> and<00:12:49.400> loose<00:12:50.400> will<00:12:50.610> give<00:12:50.850> I<00:12:51.120> believe<00:12:51.960> so<00:12:52.140> I 00:12:52.370 --> 00:12:52.380 align:start position:0% user and loose will give I believe so I 00:12:52.380 --> 00:12:55.910 align:start position:0% user and loose will give I believe so I believe<00:12:52.920> in<00:12:53.010> this<00:12:53.100> model<00:12:53.490> and<00:12:54.440> the<00:12:55.440> bills<00:12:55.710> will 00:12:55.910 --> 00:12:55.920 align:start position:0% believe in this model and the bills will 00:12:55.920 --> 00:12:58.760 align:start position:0% believe in this model and the bills will give<00:12:56.460> value<00:12:56.850> to<00:12:56.880> a<00:12:57.090> token<00:12:57.480> and<00:12:57.630> does<00:12:58.080> it<00:12:58.560> does 00:12:58.760 --> 00:12:58.770 align:start position:0% give value to a token and does it does 00:12:58.770 --> 00:13:01.220 align:start position:0% give value to a token and does it does not<00:12:58.920> matter<00:12:59.180> how<00:13:00.180> the<00:13:00.240> token<00:13:00.750> is<00:13:00.840> going<00:13:01.020> to<00:13:01.140> be 00:13:01.220 --> 00:13:01.230 align:start position:0% not matter how the token is going to be 00:13:01.230 --> 00:13:04.640 align:start position:0% not matter how the token is going to be distributed<00:13:01.770> it<00:13:01.950> may<00:13:02.730> be<00:13:02.790> can<00:13:03.690> can<00:13:04.110> help<00:13:04.140> or 00:13:04.640 --> 00:13:04.650 align:start position:0% distributed it may be can can help or 00:13:04.650 --> 00:13:06.590 align:start position:0% distributed it may be can can help or harm<00:13:04.860> a<00:13:05.070> little<00:13:05.370> bit<00:13:05.520> but<00:13:05.730> this<00:13:06.210> is<00:13:06.390> not<00:13:06.540> the 00:13:06.590 --> 00:13:06.600 align:start position:0% harm a little bit but this is not the 00:13:06.600 --> 00:13:07.090 align:start position:0% harm a little bit but this is not the main 00:13:07.090 --> 00:13:07.100 align:start position:0% main 00:13:07.100 --> 00:13:11.410 align:start position:0% main a<00:13:07.270> value<00:13:08.270> giver<00:13:08.510> here<00:13:08.810> and<00:13:09.280> I<00:13:10.280> think<00:13:10.790> humble<00:13:11.210> is 00:13:11.410 --> 00:13:11.420 align:start position:0% a value giver here and I think humble is 00:13:11.420 --> 00:13:14.380 align:start position:0% a value giver here and I think humble is the<00:13:11.690> only<00:13:11.840> one<00:13:12.080> who<00:13:12.290> did<00:13:12.470> it<00:13:12.620> by<00:13:13.400> now<00:13:13.610> to<00:13:14.030> give<00:13:14.360> a 00:13:14.380 --> 00:13:14.390 align:start position:0% the only one who did it by now to give a 00:13:14.390 --> 00:13:18.520 align:start position:0% the only one who did it by now to give a value<00:13:14.690> for<00:13:14.960> real<00:13:15.110> token<00:13:16.030> on<00:13:17.030> a<00:13:17.360> tea<00:13:17.540> room<00:13:17.570> on 00:13:18.520 --> 00:13:18.530 align:start position:0% value for real token on a tea room on 00:13:18.530 --> 00:13:21.880 align:start position:0% value for real token on a tea room on the<00:13:18.770> Tea<00:13:18.890> Room<00:13:19.040> chain<00:13:19.280> and<00:13:19.840> I<00:13:20.840> do<00:13:21.500> believe<00:13:21.650> we 00:13:21.880 --> 00:13:21.890 align:start position:0% the Tea Room chain and I do believe we 00:13:21.890 --> 00:13:24.580 align:start position:0% the Tea Room chain and I do believe we are<00:13:21.980> going<00:13:22.160> to<00:13:22.310> see<00:13:22.550> very<00:13:22.730> soon<00:13:23.060> in<00:13:23.810> close 00:13:24.580 --> 00:13:24.590 align:start position:0% are going to see very soon in close 00:13:24.590 --> 00:13:28.890 align:start position:0% are going to see very soon in close months<00:13:24.980> more<00:13:25.250> more<00:13:25.970> services<00:13:26.600> like<00:13:27.410> this<00:13:27.760> I 00:13:28.890 --> 00:13:28.900 align:start position:0% months more more services like this I 00:13:28.900 --> 00:13:33.400 align:start position:0% months more more services like this I don't<00:13:29.900> know<00:13:30.080> if<00:13:30.230> I<00:13:31.210> mentioned<00:13:32.210> a<00:13:32.750> hotdog<00:13:33.020> eater 00:13:33.400 --> 00:13:33.410 align:start position:0% don't know if I mentioned a hotdog eater 00:13:33.410 --> 00:13:36.280 align:start position:0% don't know if I mentioned a hotdog eater came<00:13:33.890> so<00:13:34.610> it<00:13:34.940> can<00:13:35.150> be<00:13:35.300> an<00:13:35.390> option<00:13:35.540> for<00:13:35.900> this 00:13:36.280 --> 00:13:36.290 align:start position:0% came so it can be an option for this 00:13:36.290 --> 00:13:42.310 align:start position:0% came so it can be an option for this service<00:13:38.830> okay<00:13:39.830> culturally<00:13:40.430> brilliant<00:13:41.320> so 00:13:42.310 --> 00:13:42.320 align:start position:0% service okay culturally brilliant so 00:13:42.320 --> 00:13:44.890 align:start position:0% service okay culturally brilliant so guys<00:13:42.800> move<00:13:43.040> on<00:13:43.130> to<00:13:43.250> another<00:13:43.490> question<00:13:43.900> there 00:13:44.890 --> 00:13:44.900 align:start position:0% guys move on to another question there 00:13:44.900 --> 00:13:47.230 align:start position:0% guys move on to another question there are<00:13:45.170> some<00:13:45.290> concerns<00:13:45.650> about<00:13:46.240> centralization 00:13:47.230 --> 00:13:47.240 align:start position:0% are some concerns about centralization 00:13:47.240 --> 00:13:49.360 align:start position:0% are some concerns about centralization risk<00:13:47.480> with<00:13:48.260> with<00:13:48.530> middleware<00:13:49.010> and<00:13:49.250> with 00:13:49.360 --> 00:13:49.370 align:start position:0% risk with with middleware and with 00:13:49.370 --> 00:13:51.970 align:start position:0% risk with with middleware and with untrained<00:13:49.940> services<00:13:50.830> what<00:13:51.830> are<00:13:51.920> your 00:13:51.970 --> 00:13:51.980 align:start position:0% untrained services what are your 00:13:51.980 --> 00:13:54.670 align:start position:0% untrained services what are your thoughts<00:13:52.280> as<00:13:53.120> individuals<00:13:53.900> in<00:13:54.200> terms<00:13:54.380> of<00:13:54.530> you 00:13:54.670 --> 00:13:54.680 align:start position:0% thoughts as individuals in terms of you 00:13:54.680 --> 00:13:57.550 align:start position:0% thoughts as individuals in terms of you know<00:13:54.710> mitigating<00:13:55.490> those<00:13:55.640> issues<00:13:56.030> and<00:13:56.630> I<00:13:57.110> mean 00:13:57.550 --> 00:13:57.560 align:start position:0% know mitigating those issues and I mean 00:13:57.560 --> 00:13:58.900 align:start position:0% know mitigating those issues and I mean structure<00:13:57.890> there<00:13:58.070> might<00:13:58.190> be<00:13:58.220> some<00:13:58.430> instances 00:13:58.900 --> 00:13:58.910 align:start position:0% structure there might be some instances 00:13:58.910 --> 00:14:00.310 align:start position:0% structure there might be some instances where<00:13:59.090> we<00:13:59.120> need<00:13:59.360> centralization<00:14:00.080> there's<00:14:00.230> no 00:14:00.310 --> 00:14:00.320 align:start position:0% where we need centralization there's no 00:14:00.320 --> 00:14:02.020 align:start position:0% where we need centralization there's no other<00:14:00.410> way<00:14:00.590> but<00:14:00.650> were<00:14:01.040> your<00:14:01.640> thoughts<00:14:01.790> are 00:14:02.020 --> 00:14:02.030 align:start position:0% other way but were your thoughts are 00:14:02.030 --> 00:14:05.880 align:start position:0% other way but were your thoughts are mitigating<00:14:02.480> that<00:14:02.660> start<00:14:03.590> with<00:14:04.030> Joseph<00:14:05.030> sorry 00:14:05.880 --> 00:14:05.890 align:start position:0% mitigating that start with Joseph sorry 00:14:05.890 --> 00:14:11.920 align:start position:0% mitigating that start with Joseph sorry yeah<00:14:09.790> yeah<00:14:10.790> hello<00:14:11.270> me<00:14:11.450> today<00:14:11.630> how<00:14:11.870> we 00:14:11.920 --> 00:14:11.930 align:start position:0% yeah yeah hello me today how we 00:14:11.930 --> 00:14:15.940 align:start position:0% yeah yeah hello me today how we committee<00:14:12.260> ated<00:14:12.560> yeah<00:14:13.490> so<00:14:13.910> I<00:14:13.940> think<00:14:14.410> yeah<00:14:15.410> yeah 00:14:15.940 --> 00:14:15.950 align:start position:0% committee ated yeah so I think yeah yeah 00:14:15.950 --> 00:14:18.340 align:start position:0% committee ated yeah so I think yeah yeah i<00:14:16.010> saw<00:14:16.190> the<00:14:16.280> question<00:14:16.700> and<00:14:16.850> it's<00:14:17.200> to<00:14:18.200> me<00:14:18.290> it 00:14:18.340 --> 00:14:18.350 align:start position:0% i saw the question and it's to me it 00:14:18.350 --> 00:14:23.020 align:start position:0% i saw the question and it's to me it seems<00:14:18.590> a<00:14:18.710> little<00:14:18.860> less<00:14:21.670> less<00:14:22.670> of<00:14:22.820> an<00:14:22.910> issue 00:14:23.020 --> 00:14:23.030 align:start position:0% seems a little less less of an issue 00:14:23.030 --> 00:14:24.990 align:start position:0% seems a little less less of an issue with<00:14:23.330> these<00:14:23.510> fully<00:14:24.470> decentralized 00:14:24.990 --> 00:14:25.000 align:start position:0% with these fully decentralized 00:14:25.000 --> 00:14:27.670 align:start position:0% with these fully decentralized middleware<00:14:26.000> services<00:14:26.570> because<00:14:27.470> they're 00:14:27.670 --> 00:14:27.680 align:start position:0% middleware services because they're 00:14:27.680 --> 00:14:31.200 align:start position:0% middleware services because they're they're<00:14:28.520> all<00:14:28.670> if<00:14:29.210> they're<00:14:29.480> there<00:14:29.900> trust<00:14:30.380> lists 00:14:31.200 --> 00:14:31.210 align:start position:0% they're all if they're there trust lists 00:14:31.210 --> 00:14:33.910 align:start position:0% they're all if they're there trust lists so<00:14:32.210> if<00:14:32.270> they're<00:14:32.420> trustless<00:14:32.900> then<00:14:33.320> you<00:14:33.710> don't 00:14:33.910 --> 00:14:33.920 align:start position:0% so if they're trustless then you don't 00:14:33.920 --> 00:14:36.520 align:start position:0% so if they're trustless then you don't really<00:14:34.190> mind<00:14:35.180> if<00:14:35.450> everyone<00:14:35.960> is<00:14:36.110> using<00:14:36.290> the 00:14:36.520 --> 00:14:36.530 align:start position:0% really mind if everyone is using the 00:14:36.530 --> 00:14:39.550 align:start position:0% really mind if everyone is using the same<00:14:36.740> contract<00:14:37.370> let's<00:14:38.360> say<00:14:38.540> yet<00:14:38.840> you<00:14:39.110> know<00:14:39.260> in 00:14:39.550 --> 00:14:39.560 align:start position:0% same contract let's say yet you know in 00:14:39.560 --> 00:14:42.370 align:start position:0% same contract let's say yet you know in my<00:14:40.100> case<00:14:40.160> i<00:14:40.640> provide<00:14:41.090> like<00:14:41.300> Bitcoin<00:14:42.140> block 00:14:42.370 --> 00:14:42.380 align:start position:0% my case i provide like Bitcoin block 00:14:42.380 --> 00:14:48.000 align:start position:0% my case i provide like Bitcoin block headers<00:14:42.740> and<00:14:43.870> prove<00:14:44.870> you<00:14:45.350> know<00:14:46.180> proofs<00:14:47.180> that 00:14:48.000 --> 00:14:48.010 align:start position:0% headers and prove you know proofs that 00:14:48.010 --> 00:14:52.150 align:start position:0% headers and prove you know proofs that that<00:14:49.010> I<00:14:49.570> Bitcoin<00:14:50.570> transactions<00:14:51.170> so<00:14:51.410> it<00:14:51.740> to<00:14:52.070> me 00:14:52.150 --> 00:14:52.160 align:start position:0% that I Bitcoin transactions so it to me 00:14:52.160 --> 00:14:55.360 align:start position:0% that I Bitcoin transactions so it to me it<00:14:52.220> doesn't<00:14:52.430> seem<00:14:53.300> seem<00:14:54.110> that<00:14:54.260> of<00:14:55.040> an<00:14:55.250> issue 00:14:55.360 --> 00:14:55.370 align:start position:0% it doesn't seem seem that of an issue 00:14:55.370 --> 00:14:58.380 align:start position:0% it doesn't seem seem that of an issue sure<00:14:56.030> paper 00:14:58.380 --> 00:14:58.390 align:start position:0% sure paper 00:14:58.390 --> 00:15:00.780 align:start position:0% sure paper I<00:14:58.420> think<00:14:58.720> that<00:14:59.020> there's<00:14:59.470> a<00:14:59.530> that<00:15:00.220> there's<00:15:00.430> kind 00:15:00.780 --> 00:15:00.790 align:start position:0% I think that there's a that there's kind 00:15:00.790 --> 00:15:03.180 align:start position:0% I think that there's a that there's kind of<00:15:00.910> a<00:15:01.000> line<00:15:01.210> that<00:15:01.450> falls<00:15:01.720> between<00:15:02.190> the 00:15:03.180 --> 00:15:03.190 align:start position:0% of a line that falls between the 00:15:03.190 --> 00:15:05.280 align:start position:0% of a line that falls between the services<00:15:03.820> that<00:15:03.850> we<00:15:04.000> can<00:15:04.600> use<00:15:04.630> the<00:15:05.110> term 00:15:05.280 --> 00:15:05.290 align:start position:0% services that we can use the term 00:15:05.290 --> 00:15:07.970 align:start position:0% services that we can use the term trustless<00:15:05.860> for<00:15:06.280> and<00:15:06.580> services<00:15:07.180> that<00:15:07.210> are<00:15:07.600> not 00:15:07.970 --> 00:15:07.980 align:start position:0% trustless for and services that are not 00:15:07.980 --> 00:15:11.640 align:start position:0% trustless for and services that are not necessarily<00:15:08.980> entirely<00:15:09.790> trust<00:15:10.030> lyst<00:15:10.650> I've 00:15:11.640 --> 00:15:11.650 align:start position:0% necessarily entirely trust lyst I've 00:15:11.650 --> 00:15:14.970 align:start position:0% necessarily entirely trust lyst I've thought<00:15:12.190> about<00:15:12.270> my<00:15:13.270> service<00:15:13.690> a<00:15:13.810> lot<00:15:14.080> and<00:15:14.320> the 00:15:14.970 --> 00:15:14.980 align:start position:0% thought about my service a lot and the 00:15:14.980 --> 00:15:17.910 align:start position:0% thought about my service a lot and the conclusion<00:15:15.940> that<00:15:15.970> I<00:15:16.150> come<00:15:16.420> to<00:15:16.680> repeatedly<00:15:17.680> is 00:15:17.910 --> 00:15:17.920 align:start position:0% conclusion that I come to repeatedly is 00:15:17.920 --> 00:15:20.550 align:start position:0% conclusion that I come to repeatedly is that<00:15:18.120> whether<00:15:19.120> or<00:15:19.240> not<00:15:19.330> it's<00:15:19.570> alarm<00:15:20.020> clock<00:15:20.350> or 00:15:20.550 --> 00:15:20.560 align:start position:0% that whether or not it's alarm clock or 00:15:20.560 --> 00:15:22.740 align:start position:0% that whether or not it's alarm clock or something<00:15:20.590> else<00:15:21.160> if<00:15:21.940> it's<00:15:22.180> a<00:15:22.270> non-chain 00:15:22.740 --> 00:15:22.750 align:start position:0% something else if it's a non-chain 00:15:22.750 --> 00:15:24.750 align:start position:0% something else if it's a non-chain service<00:15:23.230> for<00:15:23.470> doing<00:15:23.800> the<00:15:23.980> thing<00:15:24.250> that<00:15:24.490> alarm 00:15:24.750 --> 00:15:24.760 align:start position:0% service for doing the thing that alarm 00:15:24.760 --> 00:15:27.960 align:start position:0% service for doing the thing that alarm clock<00:15:25.090> does<00:15:25.390> it<00:15:26.320> is<00:15:26.590> more<00:15:26.980> powerful<00:15:27.250> and<00:15:27.760> more 00:15:27.960 --> 00:15:27.970 align:start position:0% clock does it is more powerful and more 00:15:27.970 --> 00:15:30.480 align:start position:0% clock does it is more powerful and more secure<00:15:28.510> the<00:15:29.140> more<00:15:29.380> people<00:15:29.590> who<00:15:29.770> are<00:15:29.920> using<00:15:30.370> it 00:15:30.480 --> 00:15:30.490 align:start position:0% secure the more people who are using it 00:15:30.490 --> 00:15:34.080 align:start position:0% secure the more people who are using it I<00:15:31.180> don't<00:15:31.570> think<00:15:31.780> that<00:15:31.840> that<00:15:31.960> rule<00:15:32.740> applies<00:15:33.280> for 00:15:34.080 --> 00:15:34.090 align:start position:0% I don't think that that rule applies for 00:15:34.090 --> 00:15:35.910 align:start position:0% I don't think that that rule applies for everything<00:15:34.900> out<00:15:35.050> there<00:15:35.230> I<00:15:35.290> think<00:15:35.590> there<00:15:35.710> will 00:15:35.910 --> 00:15:35.920 align:start position:0% everything out there I think there will 00:15:35.920 --> 00:15:38.190 align:start position:0% everything out there I think there will be<00:15:35.980> things<00:15:36.280> that<00:15:36.460> function<00:15:37.450> very<00:15:37.720> well<00:15:37.810> with 00:15:38.190 --> 00:15:38.200 align:start position:0% be things that function very well with 00:15:38.200 --> 00:15:41.610 align:start position:0% be things that function very well with many<00:15:38.410> little<00:15:39.220> individual<00:15:39.730> pods<00:15:40.060> doing<00:15:40.600> them<00:15:40.780> I 00:15:41.610 --> 00:15:41.620 align:start position:0% many little individual pods doing them I 00:15:41.620 --> 00:15:44.040 align:start position:0% many little individual pods doing them I think<00:15:41.950> the<00:15:42.070> risk<00:15:42.280> comes<00:15:42.820> when<00:15:43.330> there<00:15:43.870> is<00:15:44.020> a 00:15:44.040 --> 00:15:44.050 align:start position:0% think the risk comes when there is a 00:15:44.050 --> 00:15:48.360 align:start position:0% think the risk comes when there is a very<00:15:45.330> fundamental<00:15:46.330> service<00:15:47.200> on<00:15:47.410> Shane<00:15:47.800> that 00:15:48.360 --> 00:15:48.370 align:start position:0% very fundamental service on Shane that 00:15:48.370 --> 00:15:53.420 align:start position:0% very fundamental service on Shane that is<00:15:48.600> not<00:15:49.650> open<00:15:50.650> that<00:15:50.890> is<00:15:51.160> not<00:15:51.420> justice<00:15:52.420> and<00:15:52.690> that 00:15:53.420 --> 00:15:53.430 align:start position:0% is not open that is not justice and that 00:15:53.430 --> 00:15:57.420 align:start position:0% is not open that is not justice and that does<00:15:54.430> grant<00:15:54.970> the<00:15:55.360> power<00:15:55.630> to<00:15:56.080> some<00:15:56.430> for-profit 00:15:57.420 --> 00:15:57.430 align:start position:0% does grant the power to some for-profit 00:15:57.430 --> 00:16:01.290 align:start position:0% does grant the power to some for-profit entity<00:15:58.320> to<00:15:59.320> make<00:15:59.980> arbitrary<00:16:00.370> changes<00:16:01.000> to<00:16:01.180> it 00:16:01.290 --> 00:16:01.300 align:start position:0% entity to make arbitrary changes to it 00:16:01.300 --> 00:16:03.900 align:start position:0% entity to make arbitrary changes to it at<00:16:01.510> which<00:16:01.690> point<00:16:01.960> we<00:16:02.470> have<00:16:02.920> rebuilt<00:16:03.400> the 00:16:03.900 --> 00:16:03.910 align:start position:0% at which point we have rebuilt the 00:16:03.910 --> 00:16:06.690 align:start position:0% at which point we have rebuilt the current<00:16:04.390> model<00:16:04.540> of<00:16:04.810> the<00:16:04.930> internet<00:16:05.260> which<00:16:05.700> yeah 00:16:06.690 --> 00:16:06.700 align:start position:0% current model of the internet which yeah 00:16:06.700 --> 00:16:09.270 align:start position:0% current model of the internet which yeah I<00:16:07.030> think<00:16:07.630> it's<00:16:07.930> I<00:16:08.200> think<00:16:08.410> it's<00:16:08.560> important<00:16:09.100> to 00:16:09.270 --> 00:16:09.280 align:start position:0% I think it's I think it's important to 00:16:09.280 --> 00:16:14.280 align:start position:0% I think it's I think it's important to note<00:16:09.610> that<00:16:10.260> on<00:16:11.260> etherium<00:16:12.040> it's<00:16:12.450> you<00:16:13.450> have<00:16:13.750> the 00:16:14.280 --> 00:16:14.290 align:start position:0% note that on etherium it's you have the 00:16:14.290 --> 00:16:17.540 align:start position:0% note that on etherium it's you have the ability<00:16:14.410> to<00:16:14.800> create<00:16:15.190> the<00:16:15.730> whole<00:16:16.090> spectrum<00:16:16.630> of 00:16:17.540 --> 00:16:17.550 align:start position:0% ability to create the whole spectrum of 00:16:17.550 --> 00:16:20.610 align:start position:0% ability to create the whole spectrum of applications<00:16:18.550> from<00:16:18.670> fully<00:16:19.630> trust<00:16:20.050> list<00:16:20.350> which 00:16:20.610 --> 00:16:20.620 align:start position:0% applications from fully trust list which 00:16:20.620 --> 00:16:26.060 align:start position:0% applications from fully trust list which which<00:16:21.010> is<00:16:21.040> what<00:16:22.800> Joseph<00:16:23.800> Piper<00:16:24.250> and<00:16:24.640> and<00:16:25.090> also 00:16:26.060 --> 00:16:26.070 align:start position:0% which is what Joseph Piper and and also 00:16:26.070 --> 00:16:29.550 align:start position:0% which is what Joseph Piper and and also parts<00:16:27.070> of<00:16:27.190> maker<00:16:27.480> has<00:16:28.480> this<00:16:28.690> property<00:16:29.020> but 00:16:29.550 --> 00:16:29.560 align:start position:0% parts of maker has this property but 00:16:29.560 --> 00:16:32.790 align:start position:0% parts of maker has this property but also<00:16:29.770> you<00:16:30.010> can<00:16:30.280> have<00:16:30.490> a<00:16:30.900> fully<00:16:31.900> administered 00:16:32.790 --> 00:16:32.800 align:start position:0% also you can have a fully administered 00:16:32.800 --> 00:16:35.370 align:start position:0% also you can have a fully administered smart<00:16:33.580> contract<00:16:34.120> that's<00:16:34.360> that's<00:16:34.900> controlled 00:16:35.370 --> 00:16:35.380 align:start position:0% smart contract that's that's controlled 00:16:35.380 --> 00:16:37.860 align:start position:0% smart contract that's that's controlled by<00:16:35.500> by<00:16:36.040> a<00:16:36.070> central<00:16:36.490> party<00:16:36.910> and<00:16:37.120> and<00:16:37.720> it's 00:16:37.860 --> 00:16:37.870 align:start position:0% by by a central party and and it's 00:16:37.870 --> 00:16:40.430 align:start position:0% by by a central party and and it's interesting<00:16:38.140> because<00:16:38.500> you<00:16:38.740> can<00:16:38.860> have<00:16:39.100> a 00:16:40.430 --> 00:16:40.440 align:start position:0% interesting because you can have a 00:16:40.440 --> 00:16:43.700 align:start position:0% interesting because you can have a continuum<00:16:41.440> of<00:16:41.500> this<00:16:41.710> so<00:16:42.040> you<00:16:42.760> can<00:16:42.790> have<00:16:43.180> a 00:16:43.700 --> 00:16:43.710 align:start position:0% continuum of this so you can have a 00:16:43.710 --> 00:16:50.600 align:start position:0% continuum of this so you can have a let's<00:16:44.710> say<00:16:44.830> a<00:16:45.210> a<00:16:47.910> smart<00:16:48.910> contract<00:16:49.390> that<00:16:49.900> needs 00:16:50.600 --> 00:16:50.610 align:start position:0% let's say a a smart contract that needs 00:16:50.610 --> 00:16:55.920 align:start position:0% let's say a a smart contract that needs say<00:16:51.610> a<00:16:51.960> quorum<00:16:52.960> of<00:16:53.790> voters<00:16:54.790> to<00:16:55.330> vote<00:16:55.360> on 00:16:55.920 --> 00:16:55.930 align:start position:0% say a quorum of voters to vote on 00:16:55.930 --> 00:16:59.340 align:start position:0% say a quorum of voters to vote on changes<00:16:56.650> so<00:16:57.460> that's<00:16:57.700> you<00:16:58.510> know<00:16:58.540> not<00:16:58.990> really 00:16:59.340 --> 00:16:59.350 align:start position:0% changes so that's you know not really 00:16:59.350 --> 00:17:02.250 align:start position:0% changes so that's you know not really fully<00:16:59.680> trusted<00:17:00.280> but<00:17:00.460> still<00:17:01.260> community-based 00:17:02.250 --> 00:17:02.260 align:start position:0% fully trusted but still community-based 00:17:02.260 --> 00:17:04.730 align:start position:0% fully trusted but still community-based or<00:17:02.740> you<00:17:03.520> can<00:17:03.730> have<00:17:03.910> something<00:17:04.180> like<00:17:04.329> a 00:17:04.730 --> 00:17:04.740 align:start position:0% or you can have something like a 00:17:04.740 --> 00:17:09.300 align:start position:0% or you can have something like a centrally<00:17:05.740> controlled<00:17:06.839> contract<00:17:07.839> where<00:17:08.650> you 00:17:09.300 --> 00:17:09.310 align:start position:0% centrally controlled contract where you 00:17:09.310 --> 00:17:11.730 align:start position:0% centrally controlled contract where you have<00:17:09.610> a<00:17:09.930> time<00:17:10.930> limit 00:17:11.730 --> 00:17:11.740 align:start position:0% have a time limit 00:17:11.740 --> 00:17:16.049 align:start position:0% have a time limit so<00:17:11.829> that<00:17:12.809> if<00:17:13.809> I<00:17:14.079> say<00:17:14.679> I<00:17:14.709> control<00:17:15.309> it<00:17:15.339> i<00:17:15.610> can<00:17:15.850> say 00:17:16.049 --> 00:17:16.059 align:start position:0% so that if I say I control it i can say 00:17:16.059 --> 00:17:18.809 align:start position:0% so that if I say I control it i can say i'm<00:17:16.420> going<00:17:16.720> to<00:17:16.809> make<00:17:16.929> a<00:17:16.959> change<00:17:17.350> it's<00:17:18.280> written 00:17:18.809 --> 00:17:18.819 align:start position:0% i'm going to make a change it's written 00:17:18.819 --> 00:17:21.990 align:start position:0% i'm going to make a change it's written in<00:17:19.089> the<00:17:19.240> contract<00:17:19.480> that<00:17:20.429> this<00:17:21.429> change<00:17:21.819> is 00:17:21.990 --> 00:17:22.000 align:start position:0% in the contract that this change is 00:17:22.000 --> 00:17:24.720 align:start position:0% in the contract that this change is going<00:17:22.150> to<00:17:22.240> take<00:17:22.420> two<00:17:22.660> weeks<00:17:22.870> and<00:17:23.309> if<00:17:24.309> any<00:17:24.610> of 00:17:24.720 --> 00:17:24.730 align:start position:0% going to take two weeks and if any of 00:17:24.730 --> 00:17:27.900 align:start position:0% going to take two weeks and if any of the<00:17:25.089> users<00:17:25.679> don't<00:17:26.679> like<00:17:26.829> it<00:17:27.160> they<00:17:27.370> can<00:17:27.400> you 00:17:27.900 --> 00:17:27.910 align:start position:0% the users don't like it they can you 00:17:27.910 --> 00:17:29.400 align:start position:0% the users don't like it they can you know<00:17:27.939> they<00:17:28.420> can<00:17:28.449> move<00:17:28.809> they<00:17:29.050> can<00:17:29.200> take<00:17:29.350> their 00:17:29.400 --> 00:17:29.410 align:start position:0% know they can move they can take their 00:17:29.410 --> 00:17:34.980 align:start position:0% know they can move they can take their ether<00:17:29.950> out<00:17:30.429> and<00:17:30.880> so<00:17:31.590> that<00:17:33.059> you<00:17:34.059> know<00:17:34.179> leaves<00:17:34.540> me 00:17:34.980 --> 00:17:34.990 align:start position:0% ether out and so that you know leaves me 00:17:34.990 --> 00:17:37.680 align:start position:0% ether out and so that you know leaves me still<00:17:35.320> in<00:17:35.590> control<00:17:36.100> but<00:17:36.490> there<00:17:36.820> are<00:17:36.970> there<00:17:37.540> are 00:17:37.680 --> 00:17:37.690 align:start position:0% still in control but there are there are 00:17:37.690 --> 00:17:42.720 align:start position:0% still in control but there are there are limits<00:17:40.530> like<00:17:41.530> a<00:17:41.710> practical<00:17:42.190> example<00:17:42.280> this<00:17:42.670> is 00:17:42.720 --> 00:17:42.730 align:start position:0% limits like a practical example this is 00:17:42.730 --> 00:17:44.790 align:start position:0% limits like a practical example this is maker<00:17:43.240> it's<00:17:43.929> going<00:17:44.110> to<00:17:44.170> depend<00:17:44.290> heavily<00:17:44.590> on 00:17:44.790 --> 00:17:44.800 align:start position:0% maker it's going to depend heavily on 00:17:44.800 --> 00:17:47.669 align:start position:0% maker it's going to depend heavily on price<00:17:45.130> feeds<00:17:45.429> which<00:17:46.320> are<00:17:47.320> a<00:17:47.380> great<00:17:47.590> example 00:17:47.669 --> 00:17:47.679 align:start position:0% price feeds which are a great example 00:17:47.679 --> 00:17:49.530 align:start position:0% price feeds which are a great example pretty<00:17:48.130> much<00:17:48.220> something<00:17:48.970> up<00:17:49.120> in<00:17:49.210> which<00:17:49.300> has<00:17:49.450> to 00:17:49.530 --> 00:17:49.540 align:start position:0% pretty much something up in which has to 00:17:49.540 --> 00:17:51.120 align:start position:0% pretty much something up in which has to be<00:17:49.570> centralized<00:17:50.080> for<00:17:50.410> now<00:17:50.530> that's<00:17:50.830> what<00:17:50.950> we 00:17:51.120 --> 00:17:51.130 align:start position:0% be centralized for now that's what we 00:17:51.130 --> 00:17:53.549 align:start position:0% be centralized for now that's what we there's<00:17:51.400> no<00:17:51.540> fast<00:17:52.540> decentralized<00:17:53.230> Oracle 00:17:53.549 --> 00:17:53.559 align:start position:0% there's no fast decentralized Oracle 00:17:53.559 --> 00:17:55.890 align:start position:0% there's no fast decentralized Oracle solutions<00:17:53.950> that<00:17:54.040> exist<00:17:54.160> but<00:17:55.059> we<00:17:55.179> use<00:17:55.660> the<00:17:55.750> same 00:17:55.890 --> 00:17:55.900 align:start position:0% solutions that exist but we use the same 00:17:55.900 --> 00:17:58.740 align:start position:0% solutions that exist but we use the same strategy<00:17:56.320> it's<00:17:56.440> like<00:17:56.530> the<00:17:56.679> maker<00:17:57.480> coin<00:17:58.480> or 00:17:58.740 --> 00:17:58.750 align:start position:0% strategy it's like the maker coin or 00:17:58.750 --> 00:18:00.780 align:start position:0% strategy it's like the maker coin or shareholders<00:17:59.380> are<00:17:59.650> like<00:18:00.070> the<00:18:00.220> admins<00:18:00.580> they 00:18:00.780 --> 00:18:00.790 align:start position:0% shareholders are like the admins they 00:18:00.790 --> 00:18:02.160 align:start position:0% shareholders are like the admins they have<00:18:00.970> full<00:18:01.150> admin<00:18:01.390> rights<00:18:01.570> but<00:18:01.870> they<00:18:02.020> have<00:18:02.140> a 00:18:02.160 --> 00:18:02.170 align:start position:0% have full admin rights but they have a 00:18:02.170 --> 00:18:05.160 align:start position:0% have full admin rights but they have a time<00:18:02.410> delay<00:18:02.590> and<00:18:03.450> the<00:18:04.450> only<00:18:04.630> you<00:18:04.840> know<00:18:04.929> it's<00:18:05.080> in 00:18:05.160 --> 00:18:05.170 align:start position:0% time delay and the only you know it's in 00:18:05.170 --> 00:18:07.169 align:start position:0% time delay and the only you know it's in their<00:18:05.260> best<00:18:05.350> interest<00:18:05.740> to<00:18:05.920> get<00:18:06.610> the<00:18:06.820> bet<00:18:07.000> you 00:18:07.169 --> 00:18:07.179 align:start position:0% their best interest to get the bet you 00:18:07.179 --> 00:18:10.140 align:start position:0% their best interest to get the bet you know<00:18:07.270> the<00:18:07.390> best<00:18:07.570> new<00:18:07.929> feeds<00:18:08.260> into<00:18:08.679> their<00:18:09.150> into 00:18:10.140 --> 00:18:10.150 align:start position:0% know the best new feeds into their into 00:18:10.150 --> 00:18:11.160 align:start position:0% know the best new feeds into their into their<00:18:10.270> system<00:18:10.540> no<00:18:10.660> one<00:18:10.780> no<00:18:10.900> one's<00:18:11.020> going<00:18:11.140> to 00:18:11.160 --> 00:18:11.170 align:start position:0% their system no one no one's going to 00:18:11.170 --> 00:18:12.540 align:start position:0% their system no one no one's going to abandon<00:18:11.620> the<00:18:11.860> system<00:18:12.160> when<00:18:12.280> they<00:18:12.370> see<00:18:12.429> a 00:18:12.540 --> 00:18:12.550 align:start position:0% abandon the system when they see a 00:18:12.550 --> 00:18:14.100 align:start position:0% abandon the system when they see a change<00:18:12.790> a<00:18:12.970> positive<00:18:13.330> change<00:18:13.480> like<00:18:13.720> that<00:18:13.750> and 00:18:14.100 --> 00:18:14.110 align:start position:0% change a positive change like that and 00:18:14.110 --> 00:18:16.260 align:start position:0% change a positive change like that and then<00:18:14.500> if<00:18:15.040> there's<00:18:15.220> a<00:18:15.280> negative<00:18:15.760> change<00:18:16.000> where 00:18:16.260 --> 00:18:16.270 align:start position:0% then if there's a negative change where 00:18:16.270 --> 00:18:17.700 align:start position:0% then if there's a negative change where its<00:18:16.390> suppose<00:18:16.480> they<00:18:16.809> wanted<00:18:17.080> to<00:18:17.200> replace<00:18:17.559> it 00:18:17.700 --> 00:18:17.710 align:start position:0% its suppose they wanted to replace it 00:18:17.710 --> 00:18:18.900 align:start position:0% its suppose they wanted to replace it with<00:18:17.800> only<00:18:17.950> one<00:18:18.160> price<00:18:18.400> feed<00:18:18.610> that<00:18:18.790> they 00:18:18.900 --> 00:18:18.910 align:start position:0% with only one price feed that they 00:18:18.910 --> 00:18:20.669 align:start position:0% with only one price feed that they controlled<00:18:19.300> that<00:18:19.750> gives<00:18:19.900> everyone<00:18:20.110> time<00:18:20.410> to 00:18:20.669 --> 00:18:20.679 align:start position:0% controlled that gives everyone time to 00:18:20.679 --> 00:18:22.980 align:start position:0% controlled that gives everyone time to exit<00:18:21.340> the<00:18:21.429> system<00:18:21.610> and<00:18:22.210> so<00:18:22.540> I<00:18:22.570> think<00:18:22.809> yeah 00:18:22.980 --> 00:18:22.990 align:start position:0% exit the system and so I think yeah 00:18:22.990 --> 00:18:24.030 align:start position:0% exit the system and so I think yeah we're<00:18:23.110> going<00:18:23.230> to<00:18:23.290> see<00:18:23.350> this<00:18:23.440> pattern<00:18:23.620> where<00:18:23.890> oh 00:18:24.030 --> 00:18:24.040 align:start position:0% we're going to see this pattern where oh 00:18:24.040 --> 00:18:26.970 align:start position:0% we're going to see this pattern where oh there's<00:18:24.520> no<00:18:24.640> trust<00:18:24.970> less<00:18:25.150> solution<00:18:25.510> yet<00:18:25.980> so 00:18:26.970 --> 00:18:26.980 align:start position:0% there's no trust less solution yet so 00:18:26.980 --> 00:18:28.169 align:start position:0% there's no trust less solution yet so we're<00:18:27.130> not<00:18:27.280> trust<00:18:27.550> lift<00:18:27.730> but<00:18:27.850> then<00:18:27.970> we<00:18:28.059> can 00:18:28.169 --> 00:18:28.179 align:start position:0% we're not trust lift but then we can 00:18:28.179 --> 00:18:29.820 align:start position:0% we're not trust lift but then we can plug<00:18:28.360> it<00:18:28.480> in<00:18:28.570> and<00:18:28.780> lock<00:18:29.020> ourselves<00:18:29.170> out<00:18:29.530> and 00:18:29.820 --> 00:18:29.830 align:start position:0% plug it in and lock ourselves out and 00:18:29.830 --> 00:18:32.610 align:start position:0% plug it in and lock ourselves out and then<00:18:30.490> we're<00:18:30.670> fully<00:18:30.880> trust<00:18:31.150> Lassalle<00:18:31.420> so<00:18:31.620> yeah 00:18:32.610 --> 00:18:32.620 align:start position:0% then we're fully trust Lassalle so yeah 00:18:32.620 --> 00:18:34.710 align:start position:0% then we're fully trust Lassalle so yeah it's<00:18:32.770> a<00:18:32.860> great<00:18:33.250> example<00:18:33.610> and<00:18:33.940> andromin<00:18:34.420> you 00:18:34.710 --> 00:18:34.720 align:start position:0% it's a great example and andromin you 00:18:34.720 --> 00:18:38.700 align:start position:0% it's a great example and andromin you you<00:18:35.080> also<00:18:35.230> have<00:18:35.470> a<00:18:35.530> price<00:18:35.890> feed<00:18:36.690> during<00:18:37.710> down 00:18:38.700 --> 00:18:38.710 align:start position:0% you also have a price feed during down 00:18:38.710 --> 00:18:40.980 align:start position:0% you also have a price feed during down the<00:18:38.860> price<00:18:39.100> fit<00:18:39.400> as<00:18:39.580> an<00:18:40.150> example<00:18:40.450> of<00:18:40.630> what 00:18:40.980 --> 00:18:40.990 align:start position:0% the price fit as an example of what 00:18:40.990 --> 00:18:43.260 align:start position:0% the price fit as an example of what possible<00:18:41.260> to<00:18:42.010> be<00:18:42.160> able<00:18:42.250> to<00:18:42.610> be<00:18:42.700> done<00:18:42.880> but<00:18:43.030> I 00:18:43.260 --> 00:18:43.270 align:start position:0% possible to be able to be done but I 00:18:43.270 --> 00:18:45.540 align:start position:0% possible to be able to be done but I want<00:18:43.570> to<00:18:43.750> touch<00:18:44.620> this<00:18:44.800> question<00:18:45.220> when<00:18:45.400> in 00:18:45.540 --> 00:18:45.550 align:start position:0% want to touch this question when in 00:18:45.550 --> 00:18:47.760 align:start position:0% want to touch this question when in general<00:18:45.940> form<00:18:46.380> because<00:18:47.380> we<00:18:47.530> have<00:18:47.679> this 00:18:47.760 --> 00:18:47.770 align:start position:0% general form because we have this 00:18:47.770 --> 00:18:49.620 align:start position:0% general form because we have this decentralization<00:18:48.429> movement<00:18:49.030> for<00:18:49.420> a<00:18:49.450> good 00:18:49.620 --> 00:18:49.630 align:start position:0% decentralization movement for a good 00:18:49.630 --> 00:18:51.690 align:start position:0% decentralization movement for a good reasons<00:18:49.960> because<00:18:50.650> we<00:18:51.040> have<00:18:51.220> seen<00:18:51.400> a<00:18:51.460> lot<00:18:51.670> of 00:18:51.690 --> 00:18:51.700 align:start position:0% reasons because we have seen a lot of 00:18:51.700 --> 00:18:53.840 align:start position:0% reasons because we have seen a lot of damage<00:18:52.059> done<00:18:52.450> by<00:18:52.770> central<00:18:53.770> government 00:18:53.840 --> 00:18:53.850 align:start position:0% damage done by central government 00:18:53.850 --> 00:18:58.049 align:start position:0% damage done by central government central<00:18:54.850> finance<00:18:55.740> institutions<00:18:56.740> and<00:18:57.059> I 00:18:58.049 --> 00:18:58.059 align:start position:0% central finance institutions and I 00:18:58.059 --> 00:19:00.360 align:start position:0% central finance institutions and I believe<00:18:58.420> we<00:18:58.540> will<00:18:58.570> see<00:18:58.900> more<00:18:59.110> damage<00:18:59.620> over 00:19:00.360 --> 00:19:00.370 align:start position:0% believe we will see more damage over 00:19:00.370 --> 00:19:03.630 align:start position:0% believe we will see more damage over next<00:19:00.580> time<00:19:00.880> but<00:19:01.870> there<00:19:02.710> is<00:19:02.740> people<00:19:03.220> that<00:19:03.400> kind 00:19:03.630 --> 00:19:03.640 align:start position:0% next time but there is people that kind 00:19:03.640 --> 00:19:06.750 align:start position:0% next time but there is people that kind of<00:19:03.760> losing<00:19:04.750> the<00:19:04.929> point<00:19:05.260> and<00:19:05.650> trying<00:19:06.429> to 00:19:06.750 --> 00:19:06.760 align:start position:0% of losing the point and trying to 00:19:06.760 --> 00:19:11.549 align:start position:0% of losing the point and trying to eliminate<00:19:07.679> the<00:19:08.679> entrepreneur<00:19:09.429> from<00:19:10.179> his<00:19:10.559> idea 00:19:11.549 --> 00:19:11.559 align:start position:0% eliminate the entrepreneur from his idea 00:19:11.559 --> 00:19:14.460 align:start position:0% eliminate the entrepreneur from his idea yeah<00:19:12.309> because<00:19:12.570> you<00:19:13.570> need<00:19:13.840> somebody<00:19:14.200> to 00:19:14.460 --> 00:19:14.470 align:start position:0% yeah because you need somebody to 00:19:14.470 --> 00:19:16.710 align:start position:0% yeah because you need somebody to develop<00:19:15.040> the<00:19:15.070> service<00:19:15.490> you<00:19:15.670> want<00:19:15.970> somebody<00:19:16.300> to 00:19:16.710 --> 00:19:16.720 align:start position:0% develop the service you want somebody to 00:19:16.720 --> 00:19:17.090 align:start position:0% develop the service you want somebody to deliver 00:19:17.090 --> 00:19:17.100 align:start position:0% deliver 00:19:17.100 --> 00:19:20.120 align:start position:0% deliver more<00:19:17.250> features<00:19:17.700> right<00:19:18.140> so<00:19:19.140> it's<00:19:19.410> kind<00:19:19.650> of<00:19:19.770> your 00:19:20.120 --> 00:19:20.130 align:start position:0% more features right so it's kind of your 00:19:20.130 --> 00:19:23.810 align:start position:0% more features right so it's kind of your interests<00:19:20.549> he<00:19:20.760> not<00:19:21.510> every<00:19:22.169> service<00:19:22.820> if 00:19:23.810 --> 00:19:23.820 align:start position:0% interests he not every service if 00:19:23.820 --> 00:19:27.320 align:start position:0% interests he not every service if somebody<00:19:24.480> a<00:19:25.549> standing<00:19:26.549> in<00:19:26.700> the<00:19:26.820> middle<00:19:27.030> and 00:19:27.320 --> 00:19:27.330 align:start position:0% somebody a standing in the middle and 00:19:27.330 --> 00:19:29.779 align:start position:0% somebody a standing in the middle and care<00:19:27.960> to<00:19:28.289> develop<00:19:28.679> more<00:19:28.890> about<00:19:29.160> this<00:19:29.370> as<00:19:29.520> he 00:19:29.779 --> 00:19:29.789 align:start position:0% care to develop more about this as he 00:19:29.789 --> 00:19:32.060 align:start position:0% care to develop more about this as he he's<00:19:30.120> evil<00:19:30.539> right<00:19:30.720> sometimes<00:19:31.650> I<00:19:31.770> see<00:19:31.950> that 00:19:32.060 --> 00:19:32.070 align:start position:0% he's evil right sometimes I see that 00:19:32.070 --> 00:19:34.750 align:start position:0% he's evil right sometimes I see that people<00:19:32.220> don't<00:19:32.610> see<00:19:32.940> this<00:19:33.380> this<00:19:34.380> difference 00:19:34.750 --> 00:19:34.760 align:start position:0% people don't see this this difference 00:19:34.760 --> 00:19:40.659 align:start position:0% people don't see this this difference this<00:19:35.760> was<00:19:35.970> my<00:19:36.179> point<00:19:36.530> should<00:19:37.530> contribute<00:19:37.830> I 00:19:40.659 --> 00:19:40.669 align:start position:0% 00:19:40.669 --> 00:19:43.810 align:start position:0% think<00:19:41.669> that<00:19:41.880> I<00:19:42.120> completely<00:19:42.960> agree<00:19:43.140> like 00:19:43.810 --> 00:19:43.820 align:start position:0% think that I completely agree like 00:19:43.820 --> 00:19:46.549 align:start position:0% think that I completely agree like nobody's<00:19:44.820> going<00:19:45.000> to<00:19:45.030> build<00:19:45.419> these<00:19:45.660> things<00:19:45.960> for 00:19:46.549 --> 00:19:46.559 align:start position:0% nobody's going to build these things for 00:19:46.559 --> 00:19:48.470 align:start position:0% nobody's going to build these things for free<00:19:46.830> or<00:19:47.100> at<00:19:47.250> least<00:19:47.370> nobody's<00:19:48.030> gonna<00:19:48.120> go<00:19:48.299> all 00:19:48.470 --> 00:19:48.480 align:start position:0% free or at least nobody's gonna go all 00:19:48.480 --> 00:19:51.649 align:start position:0% free or at least nobody's gonna go all of<00:19:48.690> them<00:19:48.870> for<00:19:49.140> free<00:19:49.289> my<00:19:50.159> alarm<00:19:50.640> clock<00:19:50.760> pays<00:19:51.390> me 00:19:51.649 --> 00:19:51.659 align:start position:0% of them for free my alarm clock pays me 00:19:51.659 --> 00:19:53.570 align:start position:0% of them for free my alarm clock pays me when<00:19:51.870> you<00:19:52.020> use<00:19:52.350> it<00:19:52.380> you<00:19:52.559> can<00:19:52.919> kind<00:19:53.130> of<00:19:53.190> now 00:19:53.570 --> 00:19:53.580 align:start position:0% when you use it you can kind of now 00:19:53.580 --> 00:19:56.480 align:start position:0% when you use it you can kind of now choose<00:19:53.940> what<00:19:54.179> you<00:19:54.210> want<00:19:54.480> to<00:19:54.570> pay<00:19:54.720> me<00:19:54.870> but<00:19:55.490> so 00:19:56.480 --> 00:19:56.490 align:start position:0% choose what you want to pay me but so 00:19:56.490 --> 00:19:59.539 align:start position:0% choose what you want to pay me but so it's<00:19:56.789> not<00:19:56.940> like<00:19:57.590> these<00:19:58.590> things<00:19:58.799> get<00:19:59.100> developed 00:19:59.539 --> 00:19:59.549 align:start position:0% it's not like these things get developed 00:19:59.549 --> 00:20:02.750 align:start position:0% it's not like these things get developed for<00:19:59.789> free<00:20:00.059> what<00:20:01.049> I<00:20:01.080> what<00:20:01.740> I<00:20:01.770> hope<00:20:02.100> is<00:20:02.340> that<00:20:02.370> we 00:20:02.750 --> 00:20:02.760 align:start position:0% for free what I what I hope is that we 00:20:02.760 --> 00:20:06.860 align:start position:0% for free what I what I hope is that we land<00:20:03.480> in<00:20:03.780> a<00:20:03.900> world<00:20:04.110> where<00:20:04.590> we're<00:20:05.250> one<00:20:05.659> we<00:20:06.659> still 00:20:06.860 --> 00:20:06.870 align:start position:0% land in a world where we're one we still 00:20:06.870 --> 00:20:09.740 align:start position:0% land in a world where we're one we still don't<00:20:06.960> have<00:20:07.110> to<00:20:07.289> explicitly<00:20:07.770> that<00:20:08.360> trust<00:20:09.360> that 00:20:09.740 --> 00:20:09.750 align:start position:0% don't have to explicitly that trust that 00:20:09.750 --> 00:20:11.210 align:start position:0% don't have to explicitly that trust that under<00:20:10.020> the<00:20:10.140> hood<00:20:10.320> it<00:20:10.470> does<00:20:10.620> what<00:20:10.799> we<00:20:10.830> want<00:20:11.100> it 00:20:11.210 --> 00:20:11.220 align:start position:0% under the hood it does what we want it 00:20:11.220 --> 00:20:12.919 align:start position:0% under the hood it does what we want it to<00:20:11.250> there<00:20:11.669> we<00:20:12.030> can<00:20:12.150> look<00:20:12.330> and<00:20:12.510> see<00:20:12.750> that 00:20:12.919 --> 00:20:12.929 align:start position:0% to there we can look and see that 00:20:12.929 --> 00:20:15.070 align:start position:0% to there we can look and see that there's<00:20:13.110> a<00:20:13.200> built-in<00:20:13.409> time<00:20:13.980> delay<00:20:14.280> that<00:20:14.549> if 00:20:15.070 --> 00:20:15.080 align:start position:0% there's a built-in time delay that if 00:20:15.080 --> 00:20:17.360 align:start position:0% there's a built-in time delay that if you<00:20:16.080> can't<00:20:16.289> just<00:20:16.470> pull<00:20:16.679> it<00:20:16.799> out<00:20:16.890> from<00:20:16.919> under<00:20:17.340> me 00:20:17.360 --> 00:20:17.370 align:start position:0% you can't just pull it out from under me 00:20:17.370 --> 00:20:20.029 align:start position:0% you can't just pull it out from under me that<00:20:17.789> you<00:20:18.020> that<00:20:19.020> I<00:20:19.169> at<00:20:19.350> least<00:20:19.470> get<00:20:19.650> to<00:20:19.710> see<00:20:19.919> it 00:20:20.029 --> 00:20:20.039 align:start position:0% that you that I at least get to see it 00:20:20.039 --> 00:20:22.940 align:start position:0% that you that I at least get to see it coming<00:20:20.429> and<00:20:20.610> and<00:20:20.940> and<00:20:21.390> bail<00:20:22.169> if<00:20:22.530> I<00:20:22.650> don't<00:20:22.830> want 00:20:22.940 --> 00:20:22.950 align:start position:0% coming and and and bail if I don't want 00:20:22.950 --> 00:20:27.740 align:start position:0% coming and and and bail if I don't want to<00:20:23.010> be<00:20:23.100> part<00:20:23.340> of<00:20:23.429> it<00:20:23.750> and<00:20:25.700> similarly<00:20:26.700> the<00:20:27.299> the 00:20:27.740 --> 00:20:27.750 align:start position:0% to be part of it and similarly the the 00:20:27.750 --> 00:20:30.320 align:start position:0% to be part of it and similarly the the model<00:20:28.080> of<00:20:28.289> you<00:20:28.830> know<00:20:28.919> sort<00:20:29.159> of<00:20:29.190> delegating<00:20:30.030> the 00:20:30.320 --> 00:20:30.330 align:start position:0% model of you know sort of delegating the 00:20:30.330 --> 00:20:32.029 align:start position:0% model of you know sort of delegating the okay<00:20:30.960> I<00:20:30.990> want<00:20:31.230> to<00:20:31.350> you<00:20:31.650> know<00:20:31.740> I'm<00:20:31.830> going<00:20:31.950> to 00:20:32.029 --> 00:20:32.039 align:start position:0% okay I want to you know I'm going to 00:20:32.039 --> 00:20:34.039 align:start position:0% okay I want to you know I'm going to maybe<00:20:32.580> put<00:20:32.820> a<00:20:32.880> name<00:20:33.090> registration<00:20:33.690> in<00:20:33.809> front 00:20:34.039 --> 00:20:34.049 align:start position:0% maybe put a name registration in front 00:20:34.049 --> 00:20:35.419 align:start position:0% maybe put a name registration in front of<00:20:34.140> my<00:20:34.260> contract<00:20:34.830> so<00:20:34.950> that<00:20:34.980> people<00:20:35.309> can 00:20:35.419 --> 00:20:35.429 align:start position:0% of my contract so that people can 00:20:35.429 --> 00:20:39.020 align:start position:0% of my contract so that people can upgrade<00:20:35.610> but<00:20:36.570> i'm<00:20:36.780> going<00:20:36.960> to<00:20:37.039> not<00:20:38.039> give<00:20:38.760> myself 00:20:39.020 --> 00:20:39.030 align:start position:0% upgrade but i'm going to not give myself 00:20:39.030 --> 00:20:41.419 align:start position:0% upgrade but i'm going to not give myself any<00:20:39.510> control<00:20:39.960> over<00:20:39.990> that<00:20:40.320> i'm<00:20:40.650> going<00:20:40.860> to<00:20:40.919> let<00:20:41.159> a 00:20:41.419 --> 00:20:41.429 align:start position:0% any control over that i'm going to let a 00:20:41.429 --> 00:20:43.580 align:start position:0% any control over that i'm going to let a multi<00:20:41.970> sig<00:20:42.240> of<00:20:42.480> like<00:20:42.690> seven<00:20:43.110> trusted 00:20:43.580 --> 00:20:43.590 align:start position:0% multi sig of like seven trusted 00:20:43.590 --> 00:20:45.890 align:start position:0% multi sig of like seven trusted community<00:20:43.799> members<00:20:44.400> be<00:20:44.760> the<00:20:44.970> either<00:20:45.539> voting 00:20:45.890 --> 00:20:45.900 align:start position:0% community members be the either voting 00:20:45.900 --> 00:20:49.279 align:start position:0% community members be the either voting body<00:20:46.350> for<00:20:46.740> that<00:20:46.890> so<00:20:47.210> there's<00:20:48.210> it's<00:20:48.720> a<00:20:48.840> spectrum 00:20:49.279 --> 00:20:49.289 align:start position:0% body for that so there's it's a spectrum 00:20:49.289 --> 00:20:53.480 align:start position:0% body for that so there's it's a spectrum and<00:20:49.470> there's<00:20:49.730> intermediate<00:20:50.730> steps<00:20:52.490> talking 00:20:53.480 --> 00:20:53.490 align:start position:0% and there's intermediate steps talking 00:20:53.490 --> 00:20:57.770 align:start position:0% and there's intermediate steps talking about<00:20:53.700> solutions<00:20:54.000> I<00:20:54.650> I<00:20:55.650> do<00:20:56.010> think<00:20:56.760> the<00:20:57.539> rules 00:20:57.770 --> 00:20:57.780 align:start position:0% about solutions I I do think the rules 00:20:57.780 --> 00:21:00.320 align:start position:0% about solutions I I do think the rules should<00:20:58.080> be<00:20:58.260> set<00:20:58.559> up<00:20:58.799> front<00:20:59.100> right<00:20:59.669> so<00:21:00.090> if<00:21:00.210> I 00:21:00.320 --> 00:21:00.330 align:start position:0% should be set up front right so if I 00:21:00.330 --> 00:21:02.450 align:start position:0% should be set up front right so if I build<00:21:00.450> the<00:21:00.570> service<00:21:01.110> and<00:21:01.350> you<00:21:01.380> step<00:21:02.130> into<00:21:02.340> my 00:21:02.450 --> 00:21:02.460 align:start position:0% build the service and you step into my 00:21:02.460 --> 00:21:05.510 align:start position:0% build the service and you step into my shop<00:21:02.789> right<00:21:03.090> eventually<00:21:03.809> speaking<00:21:04.650> and<00:21:04.890> I<00:21:05.280> say 00:21:05.510 --> 00:21:05.520 align:start position:0% shop right eventually speaking and I say 00:21:05.520 --> 00:21:07.700 align:start position:0% shop right eventually speaking and I say no<00:21:05.549> I<00:21:05.789> control<00:21:06.270> everything<00:21:06.720> guy<00:21:06.990> I<00:21:07.020> should<00:21:07.559> I 00:21:07.700 --> 00:21:07.710 align:start position:0% no I control everything guy I should I 00:21:07.710 --> 00:21:10.370 align:start position:0% no I control everything guy I should I should<00:21:07.770> tell<00:21:08.130> it<00:21:08.280> right<00:21:08.400> and<00:21:08.730> I<00:21:09.630> should<00:21:10.049> tell 00:21:10.370 --> 00:21:10.380 align:start position:0% should tell it right and I should tell 00:21:10.380 --> 00:21:12.200 align:start position:0% should tell it right and I should tell you<00:21:10.409> have<00:21:10.890> right<00:21:11.100> to<00:21:11.130> do<00:21:11.429> please<00:21:11.640> listen<00:21:12.030> death 00:21:12.200 --> 00:21:12.210 align:start position:0% you have right to do please listen death 00:21:12.210 --> 00:21:14.270 align:start position:0% you have right to do please listen death and<00:21:12.840> okay<00:21:13.200> we<00:21:13.320> are<00:21:13.409> on<00:21:13.440> blockchain<00:21:13.770> everything 00:21:14.270 --> 00:21:14.280 align:start position:0% and okay we are on blockchain everything 00:21:14.280 --> 00:21:16.039 align:start position:0% and okay we are on blockchain everything is<00:21:14.400> transparent<00:21:14.610> and<00:21:15.090> I'm<00:21:15.390> so<00:21:15.570> not<00:21:15.750> saying 00:21:16.039 --> 00:21:16.049 align:start position:0% is transparent and I'm so not saying 00:21:16.049 --> 00:21:17.600 align:start position:0% is transparent and I'm so not saying that<00:21:16.230> I'm<00:21:16.440> doing<00:21:16.710> this<00:21:16.890> business<00:21:17.159> but<00:21:17.400> maybe 00:21:17.600 --> 00:21:17.610 align:start position:0% that I'm doing this business but maybe 00:21:17.610 --> 00:21:20.720 align:start position:0% that I'm doing this business but maybe somebody<00:21:17.940> will<00:21:18.830> but<00:21:19.830> but<00:21:20.070> this<00:21:20.250> rule<00:21:20.460> should 00:21:20.720 --> 00:21:20.730 align:start position:0% somebody will but but this rule should 00:21:20.730 --> 00:21:21.990 align:start position:0% somebody will but but this rule should be<00:21:20.789> set<00:21:21.120> and<00:21:21.270> should<00:21:21.419> be<00:21:21.510> very<00:21:21.720> well 00:21:21.990 --> 00:21:22.000 align:start position:0% be set and should be very well 00:21:22.000 --> 00:21:25.470 align:start position:0% be set and should be very well clear<00:21:22.240> and<00:21:23.460> it<00:21:24.460> can<00:21:24.640> be<00:21:24.790> done<00:21:24.880> it's<00:21:25.090> not<00:21:25.210> evil 00:21:25.470 --> 00:21:25.480 align:start position:0% clear and it can be done it's not evil 00:21:25.480 --> 00:21:27.330 align:start position:0% clear and it can be done it's not evil right<00:21:25.870> it's<00:21:26.110> not<00:21:26.230> evil<00:21:26.500> it's<00:21:26.920> just 00:21:27.330 --> 00:21:27.340 align:start position:0% right it's not evil it's just 00:21:27.340 --> 00:21:30.030 align:start position:0% right it's not evil it's just transparent<00:21:27.670> and<00:21:28.000> and<00:21:28.330> the<00:21:28.930> mutual<00:21:29.590> agreement 00:21:30.030 --> 00:21:30.040 align:start position:0% transparent and and the mutual agreement 00:21:30.040 --> 00:21:33.900 align:start position:0% transparent and and the mutual agreement between<00:21:30.070> people<00:21:32.130> except<00:21:33.130> the<00:21:33.280> point<00:21:33.550> that<00:21:33.850> we 00:21:33.900 --> 00:21:33.910 align:start position:0% between people except the point that we 00:21:33.910 --> 00:21:36.660 align:start position:0% between people except the point that we can<00:21:34.300> choose<00:21:34.600> to<00:21:34.930> not<00:21:35.170> use<00:21:35.500> services<00:21:36.040> who<00:21:36.370> won't 00:21:36.660 --> 00:21:36.670 align:start position:0% can choose to not use services who won't 00:21:36.670 --> 00:21:39.060 align:start position:0% can choose to not use services who won't post<00:21:37.090> their<00:21:37.300> source<00:21:37.540> code<00:21:37.780> that<00:21:38.680> i<00:21:38.830> would 00:21:39.060 --> 00:21:39.070 align:start position:0% post their source code that i would 00:21:39.070 --> 00:21:40.800 align:start position:0% post their source code that i would encourage<00:21:39.220> everybody<00:21:39.730> in<00:21:40.000> this<00:21:40.120> room<00:21:40.210> to 00:21:40.800 --> 00:21:40.810 align:start position:0% encourage everybody in this room to 00:21:40.810 --> 00:21:43.950 align:start position:0% encourage everybody in this room to rigorously<00:21:41.790> advocate<00:21:42.790> for<00:21:43.090> open<00:21:43.540> your<00:21:43.690> source 00:21:43.950 --> 00:21:43.960 align:start position:0% rigorously advocate for open your source 00:21:43.960 --> 00:21:46.650 align:start position:0% rigorously advocate for open your source and<00:21:44.260> show<00:21:44.470> us<00:21:44.620> what<00:21:44.800> it<00:21:44.920> does<00:21:45.480> because<00:21:46.480> without 00:21:46.650 --> 00:21:46.660 align:start position:0% and show us what it does because without 00:21:46.660 --> 00:21:49.740 align:start position:0% and show us what it does because without that<00:21:47.730> you're<00:21:48.730> just<00:21:48.880> operating<00:21:49.420> the<00:21:49.570> same 00:21:49.740 --> 00:21:49.750 align:start position:0% that you're just operating the same 00:21:49.750 --> 00:21:51.990 align:start position:0% that you're just operating the same model<00:21:49.960> that<00:21:50.800> when<00:21:51.100> you<00:21:51.220> log<00:21:51.370> into<00:21:51.550> Facebook 00:21:51.990 --> 00:21:52.000 align:start position:0% model that when you log into Facebook 00:21:52.000 --> 00:21:53.490 align:start position:0% model that when you log into Facebook you<00:21:52.150> don't<00:21:52.330> know<00:21:52.450> if<00:21:52.570> they're<00:21:52.750> showing<00:21:53.380> you 00:21:53.490 --> 00:21:53.500 align:start position:0% you don't know if they're showing you 00:21:53.500 --> 00:21:55.320 align:start position:0% you don't know if they're showing you negative<00:21:53.890> things<00:21:54.130> to<00:21:54.400> see<00:21:54.640> how<00:21:54.910> it<00:21:55.060> affects 00:21:55.320 --> 00:21:55.330 align:start position:0% negative things to see how it affects 00:21:55.330 --> 00:21:57.780 align:start position:0% negative things to see how it affects your<00:21:55.510> mood<00:21:55.740> so<00:21:56.740> yeah<00:21:57.100> I<00:21:57.130> guess<00:21:57.280> that's<00:21:57.730> a 00:21:57.780 --> 00:21:57.790 align:start position:0% your mood so yeah I guess that's a 00:21:57.790 --> 00:21:59.940 align:start position:0% your mood so yeah I guess that's a really<00:21:57.970> interesting<00:21:58.000> point<00:21:58.510> actually<00:21:58.950> you 00:21:59.940 --> 00:21:59.950 align:start position:0% really interesting point actually you 00:21:59.950 --> 00:22:01.590 align:start position:0% really interesting point actually you seeing<00:22:00.190> a<00:22:00.310> lot<00:22:00.430> of<00:22:00.460> new<00:22:00.790> services<00:22:01.120> being 00:22:01.590 --> 00:22:01.600 align:start position:0% seeing a lot of new services being 00:22:01.600 --> 00:22:04.290 align:start position:0% seeing a lot of new services being developed<00:22:01.870> on<00:22:02.200> top<00:22:02.590> of<00:22:02.740> etherium<00:22:03.160> it's<00:22:04.000> very 00:22:04.290 --> 00:22:04.300 align:start position:0% developed on top of etherium it's very 00:22:04.300 --> 00:22:06.300 align:start position:0% developed on top of etherium it's very difficult<00:22:04.570> to<00:22:04.900> know<00:22:05.650> whether<00:22:05.830> you<00:22:06.010> can<00:22:06.040> trust 00:22:06.300 --> 00:22:06.310 align:start position:0% difficult to know whether you can trust 00:22:06.310 --> 00:22:08.310 align:start position:0% difficult to know whether you can trust that<00:22:06.430> service<00:22:06.940> what<00:22:07.570> do<00:22:07.690> you<00:22:07.750> think<00:22:07.840> the 00:22:08.310 --> 00:22:08.320 align:start position:0% that service what do you think the 00:22:08.320 --> 00:22:10.650 align:start position:0% that service what do you think the community<00:22:08.800> or<00:22:08.830> several<00:22:09.580> apps<00:22:09.940> groups<00:22:10.300> to<00:22:10.480> deck 00:22:10.650 --> 00:22:10.660 align:start position:0% community or several apps groups to deck 00:22:10.660 --> 00:22:12.920 align:start position:0% community or several apps groups to deck together<00:22:10.960> could<00:22:11.440> do<00:22:11.620> to<00:22:11.950> help<00:22:12.250> users 00:22:12.920 --> 00:22:12.930 align:start position:0% together could do to help users 00:22:12.930 --> 00:22:16.170 align:start position:0% together could do to help users understand<00:22:13.930> as<00:22:14.140> to<00:22:14.290> whether<00:22:14.440> or<00:22:14.620> not<00:22:14.650> a<00:22:15.430> smart 00:22:16.170 --> 00:22:16.180 align:start position:0% understand as to whether or not a smart 00:22:16.180 --> 00:22:17.910 align:start position:0% understand as to whether or not a smart contract<00:22:16.630> or<00:22:16.780> a<00:22:16.840> non-chain<00:22:17.110> service<00:22:17.590> will<00:22:17.740> do 00:22:17.910 --> 00:22:17.920 align:start position:0% contract or a non-chain service will do 00:22:17.920 --> 00:22:20.520 align:start position:0% contract or a non-chain service will do what<00:22:18.040> it<00:22:18.130> says<00:22:18.160> on<00:22:18.370> the<00:22:18.400> tin<00:22:19.320> there's<00:22:20.320> nobody 00:22:20.520 --> 00:22:20.530 align:start position:0% what it says on the tin there's nobody 00:22:20.530 --> 00:22:25.260 align:start position:0% what it says on the tin there's nobody else<00:22:20.680> is<00:22:20.920> about<00:22:22.140> so<00:22:23.140> I<00:22:23.860> think<00:22:24.340> what<00:22:24.670> Piper<00:22:25.030> was 00:22:25.260 --> 00:22:25.270 align:start position:0% else is about so I think what Piper was 00:22:25.270 --> 00:22:28.350 align:start position:0% else is about so I think what Piper was saying<00:22:25.510> is<00:22:25.920> vitally<00:22:26.920> important<00:22:27.400> to<00:22:27.760> have<00:22:28.000> the 00:22:28.350 --> 00:22:28.360 align:start position:0% saying is vitally important to have the 00:22:28.360 --> 00:22:33.800 align:start position:0% saying is vitally important to have the source<00:22:28.870> code<00:22:29.140> available<00:22:29.320> and<00:22:29.890> I<00:22:30.490> think<00:22:31.080> we<00:22:32.080> can 00:22:33.800 --> 00:22:33.810 align:start position:0% source code available and I think we can 00:22:33.810 --> 00:22:38.150 align:start position:0% source code available and I think we can utilize<00:22:35.010> own<00:22:36.010> chain<00:22:36.370> services<00:22:36.700> like 00:22:38.150 --> 00:22:38.160 align:start position:0% utilize own chain services like 00:22:38.160 --> 00:22:44.430 align:start position:0% utilize own chain services like registries<00:22:39.160> and<00:22:40.020> app<00:22:41.020> stores<00:22:41.710> perhaps<00:22:43.440> that 00:22:44.430 --> 00:22:44.440 align:start position:0% registries and app stores perhaps that 00:22:44.440 --> 00:22:48.810 align:start position:0% registries and app stores perhaps that can<00:22:44.800> unload<00:22:45.580> together<00:22:46.920> everything<00:22:47.920> related 00:22:48.810 --> 00:22:48.820 align:start position:0% can unload together everything related 00:22:48.820 --> 00:22:54.410 align:start position:0% can unload together everything related to<00:22:48.850> the<00:22:49.090> to<00:22:49.390> the<00:22:49.420> DAP<00:22:49.750> and<00:22:50.140> perhaps<00:22:51.150> tie<00:22:52.150> the 00:22:54.410 --> 00:22:54.420 align:start position:0% 00:22:54.420 --> 00:22:57.900 align:start position:0% the<00:22:55.420> source<00:22:56.020> code<00:22:56.410> and<00:22:56.440> also<00:22:57.070> the<00:22:57.280> front-end 00:22:57.900 --> 00:22:57.910 align:start position:0% the source code and also the front-end 00:22:57.910 --> 00:23:01.940 align:start position:0% the source code and also the front-end code<00:22:58.500> maybe<00:22:59.500> put<00:22:59.800> it<00:22:59.920> on<00:23:00.010> a<00:23:00.040> Content<00:23:00.720> addressed 00:23:01.940 --> 00:23:01.950 align:start position:0% code maybe put it on a Content addressed 00:23:01.950 --> 00:23:04.860 align:start position:0% code maybe put it on a Content addressed storage<00:23:02.950> system<00:23:03.340> like<00:23:03.580> like<00:23:03.940> I<00:23:04.120> PFS<00:23:04.570> source 00:23:04.860 --> 00:23:04.870 align:start position:0% storage system like like I PFS source 00:23:04.870 --> 00:23:08.700 align:start position:0% storage system like like I PFS source warm<00:23:05.200> and<00:23:05.440> then<00:23:06.270> anchor<00:23:07.270> that<00:23:07.480> that<00:23:08.020> hash<00:23:08.350> in 00:23:08.700 --> 00:23:08.710 align:start position:0% warm and then anchor that that hash in 00:23:08.710 --> 00:23:12.060 align:start position:0% warm and then anchor that that hash in in<00:23:09.040> the<00:23:09.190> blockchain<00:23:09.430> so<00:23:10.300> I<00:23:10.770> think<00:23:11.770> it's 00:23:12.060 --> 00:23:12.070 align:start position:0% in the blockchain so I think it's 00:23:12.070 --> 00:23:16.340 align:start position:0% in the blockchain so I think it's extremely<00:23:13.050> powerful<00:23:14.050> in<00:23:14.740> in<00:23:15.400> terms<00:23:15.610> of<00:23:15.970> a 00:23:16.340 --> 00:23:16.350 align:start position:0% extremely powerful in in terms of a 00:23:16.350 --> 00:23:20.760 align:start position:0% extremely powerful in in terms of a secure<00:23:17.610> delivery<00:23:18.610> system<00:23:19.210> for<00:23:19.240> for<00:23:19.900> you<00:23:20.740> know 00:23:20.760 --> 00:23:20.770 align:start position:0% secure delivery system for for you know 00:23:20.770 --> 00:23:22.740 align:start position:0% secure delivery system for for you know not<00:23:21.130> just<00:23:21.520> apps<00:23:21.790> but<00:23:22.030> applications<00:23:22.570> in 00:23:22.740 --> 00:23:22.750 align:start position:0% not just apps but applications in 00:23:22.750 --> 00:23:26.870 align:start position:0% not just apps but applications in general<00:23:23.170> to<00:23:23.830> have<00:23:24.040> this<00:23:24.370> you<00:23:25.270> know<00:23:25.440> trusted 00:23:26.870 --> 00:23:26.880 align:start position:0% general to have this you know trusted 00:23:26.880 --> 00:23:33.620 align:start position:0% general to have this you know trusted database<00:23:27.880> the<00:23:28.210> blockchain<00:23:28.420> all<00:23:28.960> the<00:23:31.350> all<00:23:32.350> the 00:23:33.620 --> 00:23:33.630 align:start position:0% database the blockchain all the all the 00:23:33.630 --> 00:23:35.670 align:start position:0% database the blockchain all the all the updates<00:23:34.630> from<00:23:34.900> the<00:23:35.110> developer 00:23:35.670 --> 00:23:35.680 align:start position:0% updates from the developer 00:23:35.680 --> 00:23:38.100 align:start position:0% updates from the developer is<00:23:35.770> automatically<00:23:36.400> signed<00:23:36.760> because<00:23:37.300> it<00:23:37.810> is<00:23:37.960> on 00:23:38.100 --> 00:23:38.110 align:start position:0% is automatically signed because it is on 00:23:38.110 --> 00:23:41.910 align:start position:0% is automatically signed because it is on the<00:23:38.200> blockchain<00:23:38.610> and<00:23:39.610> we<00:23:40.120> also<00:23:40.330> have<00:23:40.510> you<00:23:41.140> know 00:23:41.910 --> 00:23:41.920 align:start position:0% the blockchain and we also have you know 00:23:41.920 --> 00:23:47.060 align:start position:0% the blockchain and we also have you know the<00:23:42.690> hash<00:23:43.690> of<00:23:44.110> of<00:23:44.890> everything<00:23:45.790> in<00:23:45.910> the<00:23:45.940> DAP 00:23:47.060 --> 00:23:47.070 align:start position:0% the hash of of everything in the DAP 00:23:47.070 --> 00:23:55.050 align:start position:0% the hash of of everything in the DAP checked<00:23:48.070> automatically<00:23:50.010> so<00:23:53.220> so<00:23:54.220> that<00:23:54.430> you 00:23:55.050 --> 00:23:55.060 align:start position:0% checked automatically so so that you 00:23:55.060 --> 00:23:56.640 align:start position:0% checked automatically so so that you know<00:23:55.180> we<00:23:55.360> don't<00:23:55.780> have<00:23:56.140> all<00:23:56.320> of<00:23:56.350> the<00:23:56.620> tools 00:23:56.640 --> 00:23:56.650 align:start position:0% know we don't have all of the tools 00:23:56.650 --> 00:23:59.070 align:start position:0% know we don't have all of the tools right<00:23:57.160> now<00:23:57.220> to<00:23:57.430> like<00:23:58.060> have<00:23:58.390> the<00:23:58.630> entire<00:23:59.020> thing 00:23:59.070 --> 00:23:59.080 align:start position:0% right now to like have the entire thing 00:23:59.080 --> 00:24:01.020 align:start position:0% right now to like have the entire thing packaged<00:23:59.890> up<00:24:00.100> but<00:24:00.490> we've<00:24:00.640> heard<00:24:00.820> multiple 00:24:01.020 --> 00:24:01.030 align:start position:0% packaged up but we've heard multiple 00:24:01.030 --> 00:24:04.710 align:start position:0% packaged up but we've heard multiple talks<00:24:01.920> this<00:24:02.920> week<00:24:03.160> so<00:24:03.670> far<00:24:03.700> already<00:24:04.120> on<00:24:04.510> on 00:24:04.710 --> 00:24:04.720 align:start position:0% talks this week so far already on on 00:24:04.720 --> 00:24:07.500 align:start position:0% talks this week so far already on on those<00:24:05.500> things<00:24:05.770> are<00:24:05.920> coming<00:24:06.160> so<00:24:06.880> we're<00:24:07.300> going 00:24:07.500 --> 00:24:07.510 align:start position:0% those things are coming so we're going 00:24:07.510 --> 00:24:11.550 align:start position:0% those things are coming so we're going to<00:24:07.750> have<00:24:07.960> immutable<00:24:08.920> applications<00:24:09.910> or<00:24:10.560> fully 00:24:11.550 --> 00:24:11.560 align:start position:0% to have immutable applications or fully 00:24:11.560 --> 00:24:14.160 align:start position:0% to have immutable applications or fully verifiable<00:24:12.430> applications<00:24:13.090> but<00:24:13.720> that<00:24:13.900> doesn't 00:24:14.160 --> 00:24:14.170 align:start position:0% verifiable applications but that doesn't 00:24:14.170 --> 00:24:16.380 align:start position:0% verifiable applications but that doesn't actually<00:24:14.580> immediately<00:24:15.580> help<00:24:15.790> the<00:24:15.970> end<00:24:16.090> user 00:24:16.380 --> 00:24:16.390 align:start position:0% actually immediately help the end user 00:24:16.390 --> 00:24:18.690 align:start position:0% actually immediately help the end user and<00:24:16.510> I<00:24:16.840> think<00:24:17.110> that<00:24:17.410> you're<00:24:17.980> going<00:24:18.100> to<00:24:18.160> see<00:24:18.430> a 00:24:18.690 --> 00:24:18.700 align:start position:0% and I think that you're going to see a 00:24:18.700 --> 00:24:24.150 align:start position:0% and I think that you're going to see a business<00:24:19.630> model<00:24:19.840> show<00:24:20.260> up<00:24:20.440> here<00:24:20.740> where<00:24:21.400> I<00:24:23.160> you 00:24:24.150 --> 00:24:24.160 align:start position:0% business model show up here where I you 00:24:24.160 --> 00:24:25.620 align:start position:0% business model show up here where I you know<00:24:24.250> right<00:24:24.430> now<00:24:24.580> the<00:24:24.640> internets<00:24:25.120> full<00:24:25.450> of 00:24:25.620 --> 00:24:25.630 align:start position:0% know right now the internets full of 00:24:25.630 --> 00:24:27.420 align:start position:0% know right now the internets full of little<00:24:26.020> stamps<00:24:26.650> that<00:24:26.710> people<00:24:27.100> put<00:24:27.280> on<00:24:27.340> their 00:24:27.420 --> 00:24:27.430 align:start position:0% little stamps that people put on their 00:24:27.430 --> 00:24:29.910 align:start position:0% little stamps that people put on their website<00:24:27.940> that<00:24:28.270> say<00:24:28.540> how<00:24:28.720> secure<00:24:29.230> they<00:24:29.260> are<00:24:29.650> and 00:24:29.910 --> 00:24:29.920 align:start position:0% website that say how secure they are and 00:24:29.920 --> 00:24:32.940 align:start position:0% website that say how secure they are and they're<00:24:30.310> all<00:24:30.580> utterly<00:24:31.120> meaningless<00:24:31.780> or<00:24:32.410> at 00:24:32.940 --> 00:24:32.950 align:start position:0% they're all utterly meaningless or at 00:24:32.950 --> 00:24:34.950 align:start position:0% they're all utterly meaningless or at least<00:24:33.130> almost<00:24:33.370> all<00:24:33.760> of<00:24:33.940> them<00:24:34.120> are<00:24:34.270> and<00:24:34.540> those 00:24:34.950 --> 00:24:34.960 align:start position:0% least almost all of them are and those 00:24:34.960 --> 00:24:36.720 align:start position:0% least almost all of them are and those don't<00:24:35.290> have<00:24:35.470> to<00:24:35.770> be<00:24:35.920> meaningless<00:24:36.280> in<00:24:36.640> the 00:24:36.720 --> 00:24:36.730 align:start position:0% don't have to be meaningless in the 00:24:36.730 --> 00:24:39.600 align:start position:0% don't have to be meaningless in the etherium<00:24:37.210> world<00:24:37.420> there<00:24:37.780> will<00:24:38.200> be<00:24:38.610> trusted 00:24:39.600 --> 00:24:39.610 align:start position:0% etherium world there will be trusted 00:24:39.610 --> 00:24:44.340 align:start position:0% etherium world there will be trusted verifiers<00:24:40.330> that<00:24:41.050> do<00:24:41.740> truly<00:24:42.720> audit<00:24:43.720> and<00:24:43.960> and 00:24:44.340 --> 00:24:44.350 align:start position:0% verifiers that do truly audit and and 00:24:44.350 --> 00:24:46.590 align:start position:0% verifiers that do truly audit and and check<00:24:44.860> and<00:24:45.100> see<00:24:45.340> that<00:24:45.520> things<00:24:45.760> are<00:24:46.060> do<00:24:46.420> what 00:24:46.590 --> 00:24:46.600 align:start position:0% check and see that things are do what 00:24:46.600 --> 00:24:49.500 align:start position:0% check and see that things are do what they<00:24:46.720> say<00:24:46.750> they<00:24:47.080> do<00:24:47.140> and<00:24:47.500> I<00:24:48.490> can<00:24:49.180> absolutely 00:24:49.500 --> 00:24:49.510 align:start position:0% they say they do and I can absolutely 00:24:49.510 --> 00:24:51.480 align:start position:0% they say they do and I can absolutely see<00:24:50.050> companies<00:24:50.500> paying<00:24:50.770> for<00:24:51.100> that<00:24:51.190> service 00:24:51.480 --> 00:24:51.490 align:start position:0% see companies paying for that service 00:24:51.490 --> 00:24:53.940 align:start position:0% see companies paying for that service and<00:24:51.970> those<00:24:52.510> things<00:24:52.780> actually<00:24:53.080> having<00:24:53.590> meaning 00:24:53.940 --> 00:24:53.950 align:start position:0% and those things actually having meaning 00:24:53.950 --> 00:24:57.150 align:start position:0% and those things actually having meaning whereas<00:24:54.730> rather<00:24:55.660> than<00:24:55.870> being<00:24:56.080> empty<00:24:56.530> yeah<00:24:57.130> I 00:24:57.150 --> 00:24:57.160 align:start position:0% whereas rather than being empty yeah I 00:24:57.160 --> 00:24:58.350 align:start position:0% whereas rather than being empty yeah I think<00:24:57.280> I<00:24:57.490> think<00:24:57.670> this<00:24:57.730> might<00:24:57.820> actually<00:24:58.030> be<00:24:58.210> an 00:24:58.350 --> 00:24:58.360 align:start position:0% think I think this might actually be an 00:24:58.360 --> 00:25:00.030 align:start position:0% think I think this might actually be an opportunity<00:24:58.720> for<00:24:58.870> people<00:24:59.230> who<00:24:59.380> are<00:24:59.470> making<00:24:59.650> a 00:25:00.030 --> 00:25:00.040 align:start position:0% opportunity for people who are making a 00:25:00.040 --> 00:25:03.120 align:start position:0% opportunity for people who are making a like<00:25:00.760> mr.<00:25:01.180> or<00:25:01.450> a<00:25:01.510> competitor<00:25:02.050> to<00:25:02.200> myst<00:25:02.410> is<00:25:02.560> if 00:25:03.120 --> 00:25:03.130 align:start position:0% like mr. or a competitor to myst is if 00:25:03.130 --> 00:25:04.530 align:start position:0% like mr. or a competitor to myst is if you<00:25:03.250> also<00:25:03.400> maintain<00:25:03.910> like<00:25:04.090> a<00:25:04.120> database<00:25:04.510> of 00:25:04.530 --> 00:25:04.540 align:start position:0% you also maintain like a database of 00:25:04.540 --> 00:25:06.840 align:start position:0% you also maintain like a database of formally<00:25:05.260> verified<00:25:05.290> contracts<00:25:06.160> and<00:25:06.430> the<00:25:06.460> UI's 00:25:06.840 --> 00:25:06.850 align:start position:0% formally verified contracts and the UI's 00:25:06.850 --> 00:25:08.640 align:start position:0% formally verified contracts and the UI's that<00:25:07.090> go<00:25:07.210> with<00:25:07.510> them<00:25:07.690> I<00:25:07.930> think<00:25:08.380> maybe<00:25:08.500> the 00:25:08.640 --> 00:25:08.650 align:start position:0% that go with them I think maybe the 00:25:08.650 --> 00:25:11.220 align:start position:0% that go with them I think maybe the browser<00:25:08.890> or<00:25:09.700> the<00:25:09.790> wallet<00:25:10.150> /<00:25:10.330> browser<00:25:10.840> creators 00:25:11.220 --> 00:25:11.230 align:start position:0% browser or the wallet / browser creators 00:25:11.230 --> 00:25:12.390 align:start position:0% browser or the wallet / browser creators or<00:25:11.380> the<00:25:11.500> other<00:25:11.770> people<00:25:12.010> who're<00:25:12.100> going<00:25:12.190> to<00:25:12.280> push 00:25:12.390 --> 00:25:12.400 align:start position:0% or the other people who're going to push 00:25:12.400 --> 00:25:16.590 align:start position:0% or the other people who're going to push that<00:25:12.550> forward<00:25:12.610> I<00:25:14.220> think<00:25:15.300> Alex<00:25:16.300> founder 00:25:16.590 --> 00:25:16.600 align:start position:0% that forward I think Alex founder 00:25:16.600 --> 00:25:18.720 align:start position:0% that forward I think Alex founder Sundays<00:25:16.960> early<00:25:17.440> demonstrations<00:25:18.280> of<00:25:18.490> you<00:25:18.640> know 00:25:18.720 --> 00:25:18.730 align:start position:0% Sundays early demonstrations of you know 00:25:18.730 --> 00:25:20.790 align:start position:0% Sundays early demonstrations of you know what<00:25:18.880> he<00:25:18.940> was<00:25:19.000> looking<00:25:19.150> to<00:25:19.300> do<00:25:19.480> with<00:25:19.510> mist<00:25:19.960> and 00:25:20.790 --> 00:25:20.800 align:start position:0% what he was looking to do with mist and 00:25:20.800 --> 00:25:22.440 align:start position:0% what he was looking to do with mist and he<00:25:20.920> had<00:25:21.070> a<00:25:21.100> traffic<00:25:21.670> light<00:25:21.820> systems<00:25:22.240> are<00:25:22.390> in 00:25:22.440 --> 00:25:22.450 align:start position:0% he had a traffic light systems are in 00:25:22.450 --> 00:25:24.660 align:start position:0% he had a traffic light systems are in the<00:25:22.480> top<00:25:22.660> left<00:25:22.870> corner<00:25:23.130> there<00:25:24.130> will<00:25:24.220> be<00:25:24.370> sort 00:25:24.660 --> 00:25:24.670 align:start position:0% the top left corner there will be sort 00:25:24.670 --> 00:25:28.080 align:start position:0% the top left corner there will be sort of<00:25:24.700> a<00:25:24.790> red<00:25:25.090> orange<00:25:25.750> green<00:25:26.460> color<00:25:27.460> associated 00:25:28.080 --> 00:25:28.090 align:start position:0% of a red orange green color associated 00:25:28.090 --> 00:25:30.570 align:start position:0% of a red orange green color associated with<00:25:28.510> the<00:25:28.600> application<00:25:29.140> depending<00:25:29.740> on<00:25:30.100> you 00:25:30.570 --> 00:25:30.580 align:start position:0% with the application depending on you 00:25:30.580 --> 00:25:32.460 align:start position:0% with the application depending on you know<00:25:30.610> maybe<00:25:30.910> different<00:25:31.810> groups<00:25:31.990> of<00:25:32.140> order<00:25:32.380> to 00:25:32.460 --> 00:25:32.470 align:start position:0% know maybe different groups of order to 00:25:32.470 --> 00:25:33.990 align:start position:0% know maybe different groups of order to date<00:25:32.650> those<00:25:33.070> groups<00:25:33.340> themselves<00:25:33.490> could<00:25:33.910> have 00:25:33.990 --> 00:25:34.000 align:start position:0% date those groups themselves could have 00:25:34.000 --> 00:25:35.250 align:start position:0% date those groups themselves could have reputation<00:25:34.570> and<00:25:34.720> dependent<00:25:35.080> on<00:25:35.170> their 00:25:35.250 --> 00:25:35.260 align:start position:0% reputation and dependent on their 00:25:35.260 --> 00:25:36.600 align:start position:0% reputation and dependent on their reputation<00:25:35.470> in<00:25:35.830> the<00:25:35.890> community<00:25:35.920> you<00:25:36.460> could 00:25:36.600 --> 00:25:36.610 align:start position:0% reputation in the community you could 00:25:36.610 --> 00:25:38.580 align:start position:0% reputation in the community you could give<00:25:37.060> different<00:25:37.450> weights<00:25:37.660> to<00:25:38.170> how<00:25:38.290> there<00:25:38.500> is 00:25:38.580 --> 00:25:38.590 align:start position:0% give different weights to how there is 00:25:38.590 --> 00:25:40.020 align:start position:0% give different weights to how there is those<00:25:38.800> applications<00:25:39.220> are<00:25:39.580> sort<00:25:39.730> of<00:25:39.760> viewed 00:25:40.020 --> 00:25:40.030 align:start position:0% those applications are sort of viewed 00:25:40.030 --> 00:25:42.240 align:start position:0% those applications are sort of viewed and<00:25:40.240> it<00:25:40.510> makes<00:25:40.720> it<00:25:40.780> very<00:25:40.840> easy<00:25:41.020> for<00:25:41.250> average 00:25:42.240 --> 00:25:42.250 align:start position:0% and it makes it very easy for average 00:25:42.250 --> 00:25:44.310 align:start position:0% and it makes it very easy for average users<00:25:42.670> to<00:25:43.510> be<00:25:43.600> able<00:25:43.630> to<00:25:43.780> understand<00:25:44.110> as<00:25:44.290> to 00:25:44.310 --> 00:25:44.320 align:start position:0% users to be able to understand as to 00:25:44.320 --> 00:25:45.900 align:start position:0% users to be able to understand as to whether<00:25:44.530> or<00:25:44.710> not<00:25:44.740> the<00:25:44.920> smart<00:25:45.160> contractors<00:25:45.670> is 00:25:45.900 --> 00:25:45.910 align:start position:0% whether or not the smart contractors is 00:25:45.910 --> 00:25:47.190 align:start position:0% whether or not the smart contractors is safe<00:25:46.330> or<00:25:46.510> not 00:25:47.190 --> 00:25:47.200 align:start position:0% safe or not 00:25:47.200 --> 00:25:51.240 align:start position:0% safe or not yeah<00:25:47.769> good<00:25:47.919> women<00:25:49.169> you<00:25:50.169> talking<00:25:50.649> most<00:25:50.980> of<00:25:51.130> the 00:25:51.240 --> 00:25:51.250 align:start position:0% yeah good women you talking most of the 00:25:51.250 --> 00:25:54.539 align:start position:0% yeah good women you talking most of the time<00:25:51.399> about<00:25:51.549> technological<00:25:52.710> progress<00:25:53.710> but 00:25:54.539 --> 00:25:54.549 align:start position:0% time about technological progress but 00:25:54.549 --> 00:25:57.000 align:start position:0% time about technological progress but there<00:25:54.909> should<00:25:55.120> be<00:25:55.240> some<00:25:55.740> moral<00:25:56.740> and<00:25:56.889> political 00:25:57.000 --> 00:25:57.010 align:start position:0% there should be some moral and political 00:25:57.010 --> 00:26:00.360 align:start position:0% there should be some moral and political problems<00:25:57.850> because<00:25:58.409> we<00:25:59.409> didn't<00:25:59.710> see<00:25:59.980> it<00:26:00.039> yet<00:26:00.159> we 00:26:00.360 --> 00:26:00.370 align:start position:0% problems because we didn't see it yet we 00:26:00.370 --> 00:26:02.909 align:start position:0% problems because we didn't see it yet we don't<00:26:00.940> have<00:26:01.090> enough<00:26:01.330> experience<00:26:01.919> about 00:26:02.909 --> 00:26:02.919 align:start position:0% don't have enough experience about 00:26:02.919 --> 00:26:06.299 align:start position:0% don't have enough experience about totally<00:26:03.429> free<00:26:03.669> market<00:26:04.120> not<00:26:04.720> uncontrolled<00:26:05.350> and 00:26:06.299 --> 00:26:06.309 align:start position:0% totally free market not uncontrolled and 00:26:06.309 --> 00:26:08.940 align:start position:0% totally free market not uncontrolled and cannot<00:26:06.730> be<00:26:06.789> controlled<00:26:07.240> and<00:26:07.950> decentralized 00:26:08.940 --> 00:26:08.950 align:start position:0% cannot be controlled and decentralized 00:26:08.950 --> 00:26:12.289 align:start position:0% cannot be controlled and decentralized without<00:26:09.909> any<00:26:10.120> central<00:26:10.600> authority<00:26:11.019> it<00:26:11.200> it's<00:26:11.830> a 00:26:12.289 --> 00:26:12.299 align:start position:0% without any central authority it it's a 00:26:12.299 --> 00:26:17.580 align:start position:0% without any central authority it it's a it's<00:26:13.299> kind<00:26:13.899> of<00:26:13.990> looked<00:26:14.289> like<00:26:14.350> a<00:26:14.470> mess<00:26:14.799> but<00:26:16.590> it 00:26:17.580 --> 00:26:17.590 align:start position:0% it's kind of looked like a mess but it 00:26:17.590 --> 00:26:20.850 align:start position:0% it's kind of looked like a mess but it will<00:26:17.889> be<00:26:17.919> worked<00:26:18.250> out<00:26:18.429> because<00:26:19.590> we<00:26:20.590> are 00:26:20.850 --> 00:26:20.860 align:start position:0% will be worked out because we are 00:26:20.860 --> 00:26:22.980 align:start position:0% will be worked out because we are talking<00:26:21.130> about<00:26:21.220> mutual<00:26:21.580> agreement<00:26:22.090> right<00:26:22.299> so 00:26:22.980 --> 00:26:22.990 align:start position:0% talking about mutual agreement right so 00:26:22.990 --> 00:26:25.830 align:start position:0% talking about mutual agreement right so we<00:26:23.440> just<00:26:23.679> need<00:26:23.860> to<00:26:24.279> study<00:26:24.820> how<00:26:25.179> the<00:26:25.510> deuce 00:26:25.830 --> 00:26:25.840 align:start position:0% we just need to study how the deuce 00:26:25.840 --> 00:26:28.620 align:start position:0% we just need to study how the deuce deuce<00:26:26.049> are<00:26:26.230> so<00:26:26.580> maybe<00:26:27.580> we<00:26:27.850> serve<00:26:28.000> across<00:26:28.240> set 00:26:28.620 --> 00:26:28.630 align:start position:0% deuce are so maybe we serve across set 00:26:28.630 --> 00:26:31.289 align:start position:0% deuce are so maybe we serve across set up<00:26:28.870> front<00:26:29.260> or<00:26:29.470> something<00:26:29.799> like<00:26:29.919> this<00:26:30.130> but<00:26:30.970> we 00:26:31.289 --> 00:26:31.299 align:start position:0% up front or something like this but we 00:26:31.299 --> 00:26:34.049 align:start position:0% up front or something like this but we just<00:26:31.659> really<00:26:32.440> didn't<00:26:32.769> see<00:26:33.070> enough<00:26:33.580> legitimate 00:26:34.049 --> 00:26:34.059 align:start position:0% just really didn't see enough legitimate 00:26:34.059 --> 00:26:38.399 align:start position:0% just really didn't see enough legitimate markets<00:26:35.940> coming<00:26:36.940> out<00:26:37.149> in<00:26:37.510> this<00:26:37.720> space<00:26:38.019> and 00:26:38.399 --> 00:26:38.409 align:start position:0% markets coming out in this space and 00:26:38.409 --> 00:26:41.460 align:start position:0% markets coming out in this space and operating<00:26:39.340> cover<00:26:39.549> over<00:26:39.940> time<00:26:40.240> and<00:26:40.510> and 00:26:41.460 --> 00:26:41.470 align:start position:0% operating cover over time and and 00:26:41.470 --> 00:26:45.389 align:start position:0% operating cover over time and and building<00:26:42.039> value<00:26:43.080> to<00:26:44.080> see<00:26:44.350> how<00:26:44.620> how 00:26:45.389 --> 00:26:45.399 align:start position:0% building value to see how how 00:26:45.399 --> 00:26:48.269 align:start position:0% building value to see how how decentralized<00:26:45.970> we<00:26:46.539> just<00:26:46.960> wish<00:26:47.230> right<00:26:47.529> this 00:26:48.269 --> 00:26:48.279 align:start position:0% decentralized we just wish right this 00:26:48.279 --> 00:26:49.889 align:start position:0% decentralized we just wish right this movement<00:26:48.580> of<00:26:48.850> the<00:26:48.880> centralization<00:26:49.630> always 00:26:49.889 --> 00:26:49.899 align:start position:0% movement of the centralization always 00:26:49.899 --> 00:26:52.259 align:start position:0% movement of the centralization always talking<00:26:50.230> about<00:26:50.440> okay<00:26:50.679> how<00:26:51.039> how<00:26:51.760> this<00:26:52.059> should 00:26:52.259 --> 00:26:52.269 align:start position:0% talking about okay how how this should 00:26:52.269 --> 00:26:54.750 align:start position:0% talking about okay how how this should work<00:26:52.330> how<00:26:52.750> this<00:26:52.990> is<00:26:53.110> the<00:26:53.260> only<00:26:53.409> way<00:26:53.740> it<00:26:54.490> should 00:26:54.750 --> 00:26:54.760 align:start position:0% work how this is the only way it should 00:26:54.760 --> 00:26:57.240 align:start position:0% work how this is the only way it should work<00:26:55.000> but<00:26:55.659> what<00:26:55.990> we<00:26:56.139> just<00:26:56.350> don't<00:26:56.679> don't<00:26:57.010> have 00:26:57.240 --> 00:26:57.250 align:start position:0% work but what we just don't don't have 00:26:57.250 --> 00:26:59.430 align:start position:0% work but what we just don't don't have experience<00:26:57.399> yet<00:26:58.059> to<00:26:58.210> say<00:26:58.389> okay<00:26:58.990> in<00:26:59.049> this<00:26:59.169> case 00:26:59.430 --> 00:26:59.440 align:start position:0% experience yet to say okay in this case 00:26:59.440 --> 00:27:01.710 align:start position:0% experience yet to say okay in this case you<00:26:59.590> do<00:26:59.740> this<00:26:59.889> dead<00:27:00.309> and<00:27:00.549> in<00:27:00.970> this<00:27:01.120> case<00:27:01.389> you 00:27:01.710 --> 00:27:01.720 align:start position:0% you do this dead and in this case you 00:27:01.720 --> 00:27:03.389 align:start position:0% you do this dead and in this case you you<00:27:01.960> take<00:27:02.139> a<00:27:02.200> lawyer<00:27:02.470> and<00:27:02.710> then<00:27:02.860> you<00:27:03.100> do<00:27:03.250> this 00:27:03.389 --> 00:27:03.399 align:start position:0% you take a lawyer and then you do this 00:27:03.399 --> 00:27:06.060 align:start position:0% you take a lawyer and then you do this and<00:27:03.580> IDK<00:27:03.909> and<00:27:04.240> how<00:27:04.779> the<00:27:04.840> contract<00:27:05.409> I'm<00:27:05.769> talking 00:27:06.060 --> 00:27:06.070 align:start position:0% and IDK and how the contract I'm talking 00:27:06.070 --> 00:27:07.680 align:start position:0% and IDK and how the contract I'm talking about<00:27:06.159> contract<00:27:06.700> between<00:27:06.820> people<00:27:07.179> rising<00:27:07.360> not 00:27:07.680 --> 00:27:07.690 align:start position:0% about contract between people rising not 00:27:07.690 --> 00:27:10.190 align:start position:0% about contract between people rising not not<00:27:07.870> not<00:27:08.409> approaching<00:27:08.889> contract<00:27:09.309> right<00:27:09.429> if 00:27:10.190 --> 00:27:10.200 align:start position:0% not not approaching contract right if 00:27:10.200 --> 00:27:13.230 align:start position:0% not not approaching contract right if how<00:27:11.200> this<00:27:11.470> contract<00:27:11.889> should<00:27:12.010> be<00:27:12.190> said<00:27:12.490> without 00:27:13.230 --> 00:27:13.240 align:start position:0% how this contract should be said without 00:27:13.240 --> 00:27:15.299 align:start position:0% how this contract should be said without central<00:27:13.840> authority<00:27:14.260> because<00:27:14.409> if<00:27:14.710> you<00:27:14.860> look<00:27:15.100> in 00:27:15.299 --> 00:27:15.309 align:start position:0% central authority because if you look in 00:27:15.309 --> 00:27:18.419 align:start position:0% central authority because if you look in now<00:27:15.700> in<00:27:16.210> any<00:27:16.870> you<00:27:17.590> know<00:27:17.649> in<00:27:17.889> the<00:27:18.190> jurisdiction 00:27:18.419 --> 00:27:18.429 align:start position:0% now in any you know in the jurisdiction 00:27:18.429 --> 00:27:21.570 align:start position:0% now in any you know in the jurisdiction system<00:27:19.210> any<00:27:19.419> contract<00:27:20.019> somehow<00:27:20.830> assume<00:27:21.309> that 00:27:21.570 --> 00:27:21.580 align:start position:0% system any contract somehow assume that 00:27:21.580 --> 00:27:24.899 align:start position:0% system any contract somehow assume that you<00:27:21.700> are<00:27:21.730> going<00:27:22.090> to<00:27:22.240> court<00:27:22.480> in<00:27:22.779> some<00:27:23.909> Wendy 00:27:24.899 --> 00:27:24.909 align:start position:0% you are going to court in some Wendy 00:27:24.909 --> 00:27:27.750 align:start position:0% you are going to court in some Wendy Wendy<00:27:25.059> problem<00:27:25.510> arrives<00:27:25.779> so<00:27:26.529> we<00:27:27.490> are<00:27:27.580> not 00:27:27.750 --> 00:27:27.760 align:start position:0% Wendy problem arrives so we are not 00:27:27.760 --> 00:27:29.820 align:start position:0% Wendy problem arrives so we are not working<00:27:28.210> this<00:27:28.480> way<00:27:28.690> right<00:27:28.840> we<00:27:29.049> want<00:27:29.470> something 00:27:29.820 --> 00:27:29.830 align:start position:0% working this way right we want something 00:27:29.830 --> 00:27:32.730 align:start position:0% working this way right we want something girls<00:27:30.039> and<00:27:30.340> we<00:27:30.970> just<00:27:31.299> need<00:27:31.600> to<00:27:31.840> you<00:27:32.169> know<00:27:32.320> it's 00:27:32.730 --> 00:27:32.740 align:start position:0% girls and we just need to you know it's 00:27:32.740 --> 00:27:34.590 align:start position:0% girls and we just need to you know it's not<00:27:32.889> the<00:27:32.950> technological<00:27:33.580> problem<00:27:33.909> it's<00:27:34.389> more 00:27:34.590 --> 00:27:34.600 align:start position:0% not the technological problem it's more 00:27:34.600 --> 00:27:37.860 align:start position:0% not the technological problem it's more a<00:27:34.659> phallic<00:27:35.500> a<00:27:35.710> philosophical<00:27:36.610> a<00:27:36.870> political 00:27:37.860 --> 00:27:37.870 align:start position:0% a phallic a philosophical a political 00:27:37.870 --> 00:27:40.620 align:start position:0% a phallic a philosophical a political problem<00:27:38.110> that<00:27:38.980> i<00:27:39.519> believe<00:27:40.120> the<00:27:40.210> community 00:27:40.620 --> 00:27:40.630 align:start position:0% problem that i believe the community 00:27:40.630 --> 00:27:43.200 align:start position:0% problem that i believe the community will<00:27:40.779> work<00:27:40.929> it<00:27:41.080> out<00:27:41.200> that<00:27:41.470> means<00:27:41.649> some<00:27:41.860> time<00:27:42.210> to 00:27:43.200 --> 00:27:43.210 align:start position:0% will work it out that means some time to 00:27:43.210 --> 00:27:46.860 align:start position:0% will work it out that means some time to anything<00:27:43.899> else<00:27:44.139> you<00:27:44.440> guys<00:27:44.500> watch<00:27:44.799> editor<00:27:45.870> so 00:27:46.860 --> 00:27:46.870 align:start position:0% anything else you guys watch editor so 00:27:46.870 --> 00:27:49.560 align:start position:0% anything else you guys watch editor so another<00:27:47.500> interesting<00:27:47.679> thing<00:27:47.980> I<00:27:48.370> guess<00:27:49.000> the 00:27:49.560 --> 00:27:49.570 align:start position:0% another interesting thing I guess the 00:27:49.570 --> 00:27:52.080 align:start position:0% another interesting thing I guess the Telex<00:27:49.899> definition<00:27:50.470> of<00:27:50.649> a<00:27:51.039> blockchain<00:27:51.309> get 00:27:52.080 --> 00:27:52.090 align:start position:0% Telex definition of a blockchain get 00:27:52.090 --> 00:27:53.399 align:start position:0% Telex definition of a blockchain get something<00:27:52.299> along<00:27:52.450> the<00:27:52.510> lines<00:27:52.690> of<00:27:52.870> though<00:27:53.139> you 00:27:53.399 --> 00:27:53.409 align:start position:0% something along the lines of though you 00:27:53.409 --> 00:27:55.830 align:start position:0% something along the lines of though you always<00:27:53.590> be<00:27:53.799> able<00:27:53.860> to<00:27:54.039> view<00:27:54.340> the<00:27:54.539> current<00:27:55.539> and 00:27:55.830 --> 00:27:55.840 align:start position:0% always be able to view the current and 00:27:55.840 --> 00:27:57.440 align:start position:0% always be able to view the current and previous<00:27:56.139> states 00:27:57.440 --> 00:27:57.450 align:start position:0% previous states 00:27:57.450 --> 00:27:59.509 align:start position:0% previous states of<00:27:57.510> of<00:27:58.019> the<00:27:58.200> blockchain<00:27:58.380> itself<00:27:58.919> now<00:27:59.100> that 00:27:59.509 --> 00:27:59.519 align:start position:0% of of the blockchain itself now that 00:27:59.519 --> 00:28:01.180 align:start position:0% of of the blockchain itself now that comes<00:27:59.850> with<00:28:00.000> some<00:28:00.120> really<00:28:00.299> positive 00:28:01.180 --> 00:28:01.190 align:start position:0% comes with some really positive 00:28:01.190 --> 00:28:03.620 align:start position:0% comes with some really positive attributes<00:28:02.190> but<00:28:02.370> also<00:28:02.610> as<00:28:02.850> well<00:28:03.000> there<00:28:03.539> could 00:28:03.620 --> 00:28:03.630 align:start position:0% attributes but also as well there could 00:28:03.630 --> 00:28:06.259 align:start position:0% attributes but also as well there could be<00:28:03.690> potentially<00:28:04.139> an<00:28:04.200> impact<00:28:04.440> on<00:28:04.559> privacy<00:28:05.269> do 00:28:06.259 --> 00:28:06.269 align:start position:0% be potentially an impact on privacy do 00:28:06.269 --> 00:28:08.419 align:start position:0% be potentially an impact on privacy do you<00:28:06.330> see<00:28:06.510> privacy<00:28:06.990> as<00:28:07.260> a<00:28:07.620> challenge<00:28:08.100> when<00:28:08.399> you 00:28:08.419 --> 00:28:08.429 align:start position:0% you see privacy as a challenge when you 00:28:08.429 --> 00:28:11.169 align:start position:0% you see privacy as a challenge when you are<00:28:08.700> building<00:28:08.940> a<00:28:09.330> theory<00:28:09.600> aman<00:28:09.870> jain<00:28:10.110> services 00:28:11.169 --> 00:28:11.179 align:start position:0% are building a theory aman jain services 00:28:11.179 --> 00:28:18.100 align:start position:0% are building a theory aman jain services chris<00:28:12.179> campos<00:28:13.159> yes<00:28:14.159> very<00:28:14.669> much<00:28:14.909> so<00:28:15.860> it<00:28:16.860> is 00:28:18.100 --> 00:28:18.110 align:start position:0% chris campos yes very much so it is 00:28:18.110 --> 00:28:24.730 align:start position:0% chris campos yes very much so it is currently<00:28:19.110> very<00:28:19.649> hard<00:28:20.100> to<00:28:23.000> to<00:28:24.000> have<00:28:24.179> private 00:28:24.730 --> 00:28:24.740 align:start position:0% currently very hard to to have private 00:28:24.740 --> 00:28:28.460 align:start position:0% currently very hard to to have private transactions<00:28:25.740> on<00:28:25.980> any<00:28:26.990> current<00:28:27.990> block<00:28:28.110> chain 00:28:28.460 --> 00:28:28.470 align:start position:0% transactions on any current block chain 00:28:28.470 --> 00:28:34.250 align:start position:0% transactions on any current block chain so<00:28:30.019> from<00:28:31.019> what<00:28:31.049> I<00:28:31.260> hear<00:28:31.679> zero<00:28:32.490> cash<00:28:32.850> is<00:28:33.260> soon 00:28:34.250 --> 00:28:34.260 align:start position:0% so from what I hear zero cash is soon 00:28:34.260 --> 00:28:37.310 align:start position:0% so from what I hear zero cash is soon coming<00:28:34.529> out<00:28:34.830> and<00:28:35.159> that<00:28:35.639> will<00:28:35.789> kind<00:28:36.090> of<00:28:36.210> be<00:28:36.320> the 00:28:37.310 --> 00:28:37.320 align:start position:0% coming out and that will kind of be the 00:28:37.320 --> 00:28:39.680 align:start position:0% coming out and that will kind of be the high<00:28:37.559> water<00:28:37.889> mark<00:28:38.039> for<00:28:38.340> for<00:28:39.149> private 00:28:39.680 --> 00:28:39.690 align:start position:0% high water mark for for private 00:28:39.690 --> 00:28:42.590 align:start position:0% high water mark for for private transactions<00:28:40.320> but<00:28:40.919> unless<00:28:41.789> we<00:28:42.029> have<00:28:42.240> that 00:28:42.590 --> 00:28:42.600 align:start position:0% transactions but unless we have that 00:28:42.600 --> 00:28:46.610 align:start position:0% transactions but unless we have that level<00:28:42.899> of<00:28:43.200> and<00:28:43.610> see<00:28:44.610> case<00:28:44.880> nor<00:28:45.210> oxen<00:28:45.630> and<00:28:45.779> an 00:28:46.610 --> 00:28:46.620 align:start position:0% level of and see case nor oxen and an 00:28:46.620 --> 00:28:50.210 align:start position:0% level of and see case nor oxen and an advanced<00:28:47.490> math<00:28:47.730> it's<00:28:48.260> this<00:28:49.260> this<00:28:49.620> remains<00:28:49.980> a 00:28:50.210 --> 00:28:50.220 align:start position:0% advanced math it's this this remains a 00:28:50.220 --> 00:28:52.879 align:start position:0% advanced math it's this this remains a big<00:28:50.250> problem<00:28:50.820> and<00:28:50.940> and<00:28:51.210> it's<00:28:51.360> it's<00:28:51.510> come<00:28:52.350> up<00:28:52.559> in 00:28:52.879 --> 00:28:52.889 align:start position:0% big problem and and it's it's come up in 00:28:52.889 --> 00:28:56.019 align:start position:0% big problem and and it's it's come up in in<00:28:53.490> a<00:28:54.090> lot<00:28:54.330> of<00:28:54.510> the<00:28:54.659> discussions<00:28:55.260> that 00:28:56.019 --> 00:28:56.029 align:start position:0% in a lot of the discussions that 00:28:56.029 --> 00:29:01.720 align:start position:0% in a lot of the discussions that consensus<00:28:57.029> has<00:28:57.769> with<00:28:59.990> people<00:29:00.990> who<00:29:01.139> say<00:29:01.380> you 00:29:01.720 --> 00:29:01.730 align:start position:0% consensus has with people who say you 00:29:01.730 --> 00:29:05.769 align:start position:0% consensus has with people who say you know<00:29:02.730> this<00:29:02.850> block<00:29:03.480> chain<00:29:03.779> stuff<00:29:04.409> is<00:29:04.799> great<00:29:05.340> i 00:29:05.769 --> 00:29:05.779 align:start position:0% know this block chain stuff is great i 00:29:05.779 --> 00:29:10.009 align:start position:0% know this block chain stuff is great i really<00:29:06.779> want<00:29:06.960> to<00:29:07.080> use<00:29:07.260> it<00:29:07.559> but<00:29:08.570> you<00:29:09.570> know<00:29:09.600> all 00:29:10.009 --> 00:29:10.019 align:start position:0% really want to use it but you know all 00:29:10.019 --> 00:29:13.129 align:start position:0% really want to use it but you know all my<00:29:10.710> competitors<00:29:11.070> can<00:29:11.639> see<00:29:12.149> my<00:29:12.389> transactions 00:29:13.129 --> 00:29:13.139 align:start position:0% my competitors can see my transactions 00:29:13.139 --> 00:29:14.419 align:start position:0% my competitors can see my transactions and<00:29:13.320> what<00:29:13.679> are<00:29:13.769> we<00:29:13.860> going<00:29:13.980> to<00:29:14.070> do<00:29:14.159> about<00:29:14.190> that 00:29:14.419 --> 00:29:14.429 align:start position:0% and what are we going to do about that 00:29:14.429 --> 00:29:18.740 align:start position:0% and what are we going to do about that so<00:29:15.240> i<00:29:15.539> think<00:29:15.720> there<00:29:16.080> is<00:29:17.149> it's<00:29:18.149> a<00:29:18.330> challenge 00:29:18.740 --> 00:29:18.750 align:start position:0% so i think there is it's a challenge 00:29:18.750 --> 00:29:21.430 align:start position:0% so i think there is it's a challenge that<00:29:19.110> there<00:29:19.380> might<00:29:19.529> be<00:29:19.590> ways<00:29:20.130> of<00:29:20.460> obfuscation 00:29:21.430 --> 00:29:21.440 align:start position:0% that there might be ways of obfuscation 00:29:21.440 --> 00:29:25.909 align:start position:0% that there might be ways of obfuscation transactions<00:29:22.440> but<00:29:23.279> it<00:29:23.519> but<00:29:24.330> that<00:29:24.510> is<00:29:24.830> often<00:29:25.830> a 00:29:25.909 --> 00:29:25.919 align:start position:0% transactions but it but that is often a 00:29:25.919 --> 00:29:28.730 align:start position:0% transactions but it but that is often a a<00:29:26.279> trade-off<00:29:27.120> that<00:29:27.510> the<00:29:27.840> user<00:29:28.049> has<00:29:28.230> to<00:29:28.470> do<00:29:28.590> work 00:29:28.730 --> 00:29:28.740 align:start position:0% a trade-off that the user has to do work 00:29:28.740 --> 00:29:31.820 align:start position:0% a trade-off that the user has to do work etc<00:29:29.429> so<00:29:30.029> yeah<00:29:30.750> I<00:29:30.779> think<00:29:30.929> this<00:29:31.260> is<00:29:31.380> this<00:29:31.559> is<00:29:31.649> one 00:29:31.820 --> 00:29:31.830 align:start position:0% etc so yeah I think this is this is one 00:29:31.830 --> 00:29:37.190 align:start position:0% etc so yeah I think this is this is one of<00:29:31.860> the<00:29:32.039> big<00:29:32.580> challenges<00:29:34.610> and<00:29:35.720> hyper<00:29:36.720> I'm 00:29:37.190 --> 00:29:37.200 align:start position:0% of the big challenges and hyper I'm 00:29:37.200 --> 00:29:39.740 align:start position:0% of the big challenges and hyper I'm really<00:29:37.950> hoping<00:29:38.370> to<00:29:38.669> see<00:29:38.850> it's<00:29:39.360> something<00:29:39.630> that 00:29:39.740 --> 00:29:39.750 align:start position:0% really hoping to see it's something that 00:29:39.750 --> 00:29:41.509 align:start position:0% really hoping to see it's something that I've<00:29:39.840> put<00:29:40.080> a<00:29:40.110> lot<00:29:40.230> of<00:29:40.289> thought<00:29:40.620> into<00:29:40.649> but<00:29:41.279> just 00:29:41.509 --> 00:29:41.519 align:start position:0% I've put a lot of thought into but just 00:29:41.519 --> 00:29:43.370 align:start position:0% I've put a lot of thought into but just don't<00:29:41.639> have<00:29:41.820> the<00:29:41.970> bandwidth<00:29:42.389> to<00:29:42.779> start<00:29:43.080> in<00:29:43.230> 2 00:29:43.370 --> 00:29:43.380 align:start position:0% don't have the bandwidth to start in 2 00:29:43.380 --> 00:29:46.899 align:start position:0% don't have the bandwidth to start in 2 i'm<00:29:44.159> really<00:29:44.760> hoping<00:29:44.940> to<00:29:45.179> see<00:29:45.889> transaction 00:29:46.899 --> 00:29:46.909 align:start position:0% i'm really hoping to see transaction 00:29:46.909 --> 00:29:49.850 align:start position:0% i'm really hoping to see transaction occupation<00:29:47.909> with<00:29:48.510> very<00:29:48.809> low<00:29:49.049> overhead<00:29:49.590> show 00:29:49.850 --> 00:29:49.860 align:start position:0% occupation with very low overhead show 00:29:49.860 --> 00:29:52.610 align:start position:0% occupation with very low overhead show up<00:29:50.070> as<00:29:50.250> a<00:29:50.309> non-chain<00:29:50.789> service<00:29:51.299> in<00:29:51.539> a<00:29:51.840> utterly 00:29:52.610 --> 00:29:52.620 align:start position:0% up as a non-chain service in a utterly 00:29:52.620 --> 00:29:57.710 align:start position:0% up as a non-chain service in a utterly trusted<00:29:53.519> manner<00:29:54.860> the<00:29:55.860> ability<00:29:56.370> to<00:29:56.720> send 00:29:57.710 --> 00:29:57.720 align:start position:0% trusted manner the ability to send 00:29:57.720 --> 00:30:01.430 align:start position:0% trusted manner the ability to send transactions<00:29:58.649> anonymously<00:29:59.399> effectively<00:30:00.440> on 00:30:01.430 --> 00:30:01.440 align:start position:0% transactions anonymously effectively on 00:30:01.440 --> 00:30:05.000 align:start position:0% transactions anonymously effectively on etherium<00:30:02.159> would<00:30:02.340> be<00:30:02.490> a<00:30:02.519> pretty<00:30:02.760> powerful<00:30:04.010> tool 00:30:05.000 --> 00:30:05.010 align:start position:0% etherium would be a pretty powerful tool 00:30:05.010 --> 00:30:08.570 align:start position:0% etherium would be a pretty powerful tool to<00:30:05.600> handle<00:30:06.600> one<00:30:06.809> type<00:30:07.110> of<00:30:07.139> privacy<00:30:07.799> which<00:30:08.159> is<00:30:08.370> I 00:30:08.570 --> 00:30:08.580 align:start position:0% to handle one type of privacy which is I 00:30:08.580 --> 00:30:10.820 align:start position:0% to handle one type of privacy which is I don't<00:30:08.669> want<00:30:08.909> Amazon<00:30:09.450> tracking<00:30:10.260> everything 00:30:10.820 --> 00:30:10.830 align:start position:0% don't want Amazon tracking everything 00:30:10.830 --> 00:30:14.889 align:start position:0% don't want Amazon tracking everything that<00:30:10.919> I<00:30:10.950> bye<00:30:11.630> but<00:30:12.630> the<00:30:13.559> other<00:30:13.710> type<00:30:14.010> of<00:30:14.039> privacy 00:30:14.889 --> 00:30:14.899 align:start position:0% that I bye but the other type of privacy 00:30:14.899 --> 00:30:19.130 align:start position:0% that I bye but the other type of privacy obfuscating<00:30:15.899> you<00:30:16.649> know<00:30:16.769> I<00:30:17.240> we<00:30:18.240> want<00:30:18.480> to<00:30:18.630> do<00:30:18.870> on 00:30:19.130 --> 00:30:19.140 align:start position:0% obfuscating you know I we want to do on 00:30:19.140 --> 00:30:21.799 align:start position:0% obfuscating you know I we want to do on chain<00:30:19.529> identity<00:30:20.220> but<00:30:21.149> I<00:30:21.210> don't<00:30:21.510> necessarily 00:30:21.799 --> 00:30:21.809 align:start position:0% chain identity but I don't necessarily 00:30:21.809 --> 00:30:25.190 align:start position:0% chain identity but I don't necessarily want<00:30:22.769> to<00:30:22.860> put<00:30:23.279> my<00:30:23.519> email<00:30:23.760> address<00:30:24.330> on<00:30:24.630> there<00:30:24.990> in 00:30:25.190 --> 00:30:25.200 align:start position:0% want to put my email address on there in 00:30:25.200 --> 00:30:28.430 align:start position:0% want to put my email address on there in the<00:30:25.409> public<00:30:25.610> because<00:30:26.610> of<00:30:27.240> whatever<00:30:27.690> privacy 00:30:28.430 --> 00:30:28.440 align:start position:0% the public because of whatever privacy 00:30:28.440 --> 00:30:31.580 align:start position:0% the public because of whatever privacy reasons<00:30:29.039> and<00:30:29.750> there's<00:30:30.750> a<00:30:30.809> lot<00:30:31.019> of<00:30:31.049> hand<00:30:31.440> waving 00:30:31.580 --> 00:30:31.590 align:start position:0% reasons and there's a lot of hand waving 00:30:31.590 --> 00:30:35.360 align:start position:0% reasons and there's a lot of hand waving about<00:30:32.600> you<00:30:33.600> know<00:30:33.720> encrypted<00:30:34.649> Bob's<00:30:34.860> of<00:30:35.100> data 00:30:35.360 --> 00:30:35.370 align:start position:0% about you know encrypted Bob's of data 00:30:35.370 --> 00:30:37.850 align:start position:0% about you know encrypted Bob's of data and<00:30:35.640> we<00:30:35.820> put<00:30:36.000> them<00:30:36.090> on<00:30:36.240> I<00:30:36.269> PFS<00:30:36.899> and<00:30:37.260> we<00:30:37.409> you<00:30:37.740> know 00:30:37.850 --> 00:30:37.860 align:start position:0% and we put them on I PFS and we you know 00:30:37.860 --> 00:30:41.360 align:start position:0% and we put them on I PFS and we you know let<00:30:38.190> so-and-so<00:30:38.519> read<00:30:39.360> them<00:30:39.659> but<00:30:40.309> there's<00:30:41.309> a 00:30:41.360 --> 00:30:41.370 align:start position:0% let so-and-so read them but there's a 00:30:41.370 --> 00:30:44.840 align:start position:0% let so-and-so read them but there's a lot<00:30:41.700> of<00:30:41.730> unsolved<00:30:42.299> problems<00:30:42.840> there<00:30:43.110> and<00:30:43.470> it<00:30:43.919> it 00:30:44.840 --> 00:30:44.850 align:start position:0% lot of unsolved problems there and it it 00:30:44.850 --> 00:30:47.419 align:start position:0% lot of unsolved problems there and it it is<00:30:45.000> not<00:30:45.149> a<00:30:45.179> trivial<00:30:45.570> problem<00:30:45.860> to<00:30:46.860> solve<00:30:47.039> I 00:30:47.419 --> 00:30:47.429 align:start position:0% is not a trivial problem to solve I 00:30:47.429 --> 00:30:50.060 align:start position:0% is not a trivial problem to solve I think<00:30:48.120> we're<00:30:48.299> totally<00:30:48.539> up<00:30:48.899> for<00:30:49.230> it<00:30:49.289> but<00:30:49.710> it's 00:30:50.060 --> 00:30:50.070 align:start position:0% think we're totally up for it but it's 00:30:50.070 --> 00:30:51.980 align:start position:0% think we're totally up for it but it's hard<00:30:50.370> there's<00:30:51.090> things<00:30:51.299> you<00:30:51.360> can't<00:30:51.690> build 00:30:51.980 --> 00:30:51.990 align:start position:0% hard there's things you can't build 00:30:51.990 --> 00:30:55.850 align:start position:0% hard there's things you can't build right<00:30:52.260> now<00:30:54.409> anyone<00:30:55.409> else<00:30:55.500> got<00:30:55.590> anything<00:30:55.769> to 00:30:55.850 --> 00:30:55.860 align:start position:0% right now anyone else got anything to 00:30:55.860 --> 00:31:00.049 align:start position:0% right now anyone else got anything to add<00:30:55.980> on<00:30:56.130> that<00:30:58.010> well<00:30:59.010> I<00:30:59.039> was<00:30:59.549> coming<00:30:59.820> to<00:30:59.850> the 00:31:00.049 --> 00:31:00.059 align:start position:0% add on that well I was coming to the 00:31:00.059 --> 00:31:02.659 align:start position:0% add on that well I was coming to the fertilization<00:31:00.590> always<00:31:01.590> when<00:31:01.830> touching 00:31:02.659 --> 00:31:02.669 align:start position:0% fertilization always when touching 00:31:02.669 --> 00:31:06.680 align:start position:0% fertilization always when touching privacy<00:31:03.510> I<00:31:04.340> I<00:31:05.340> always<00:31:05.760> trying<00:31:06.029> to<00:31:06.240> say<00:31:06.450> that 00:31:06.680 --> 00:31:06.690 align:start position:0% privacy I I always trying to say that 00:31:06.690 --> 00:31:10.129 align:start position:0% privacy I I always trying to say that the<00:31:07.200> privacy<00:31:07.710> should<00:31:08.070> be<00:31:08.130> by<00:31:08.490> choice<00:31:09.139> because 00:31:10.129 --> 00:31:10.139 align:start position:0% the privacy should be by choice because 00:31:10.139 --> 00:31:13.370 align:start position:0% the privacy should be by choice because user<00:31:11.100> definitely<00:31:11.760> have<00:31:11.940> something<00:31:12.330> to<00:31:13.230> be 00:31:13.370 --> 00:31:13.380 align:start position:0% user definitely have something to be 00:31:13.380 --> 00:31:16.789 align:start position:0% user definitely have something to be rewarded<00:31:13.529> by<00:31:14.190> putting<00:31:14.850> his<00:31:15.649> identity<00:31:16.649> out 00:31:16.789 --> 00:31:16.799 align:start position:0% rewarded by putting his identity out 00:31:16.799 --> 00:31:18.830 align:start position:0% rewarded by putting his identity out there<00:31:17.039> because<00:31:17.700> we<00:31:18.029> want<00:31:18.240> to<00:31:18.330> get<00:31:18.510> to<00:31:18.690> this 00:31:18.830 --> 00:31:18.840 align:start position:0% there because we want to get to this 00:31:18.840 --> 00:31:20.810 align:start position:0% there because we want to get to this world<00:31:19.260> when<00:31:19.500> your<00:31:19.710> reputation<00:31:20.010> from<00:31:20.490> airbnb 00:31:20.810 --> 00:31:20.820 align:start position:0% world when your reputation from airbnb 00:31:20.820 --> 00:31:23.919 align:start position:0% world when your reputation from airbnb can<00:31:21.779> be<00:31:21.929> moved<00:31:22.110> to<00:31:22.289> oburg<00:31:22.590> can<00:31:22.889> be<00:31:23.039> used<00:31:23.250> in 00:31:23.919 --> 00:31:23.929 align:start position:0% can be moved to oburg can be used in 00:31:23.929 --> 00:31:26.590 align:start position:0% can be moved to oburg can be used in taking<00:31:24.929> a<00:31:25.019> loan<00:31:25.200> taking<00:31:25.860> the<00:31:26.070> credit 00:31:26.590 --> 00:31:26.600 align:start position:0% taking a loan taking the credit 00:31:26.600 --> 00:31:30.649 align:start position:0% taking a loan taking the credit something<00:31:27.600> like<00:31:27.809> this<00:31:27.840> so<00:31:28.830> we<00:31:29.760> need<00:31:29.970> to<00:31:30.149> find<00:31:30.480> a 00:31:30.649 --> 00:31:30.659 align:start position:0% something like this so we need to find a 00:31:30.659 --> 00:31:34.399 align:start position:0% something like this so we need to find a way<00:31:31.730> like<00:31:32.730> not<00:31:33.000> radically<00:31:33.570> that<00:31:33.750> nobody<00:31:34.169> knows 00:31:34.399 --> 00:31:34.409 align:start position:0% way like not radically that nobody knows 00:31:34.409 --> 00:31:37.389 align:start position:0% way like not radically that nobody knows what's<00:31:34.679> going<00:31:34.950> on<00:31:35.100> is<00:31:35.250> it<00:31:35.370> completely<00:31:35.880> a 00:31:37.389 --> 00:31:37.399 align:start position:0% what's going on is it completely a 00:31:37.399 --> 00:31:42.590 align:start position:0% what's going on is it completely a completely<00:31:39.440> I<00:31:40.440> said<00:31:40.940> there's<00:31:41.940> no<00:31:42.179> people 00:31:42.590 --> 00:31:42.600 align:start position:0% completely I said there's no people 00:31:42.600 --> 00:31:45.379 align:start position:0% completely I said there's no people there<00:31:42.630> like<00:31:43.019> I<00:31:43.260> feel<00:31:43.820> sometimes<00:31:44.820> people 00:31:45.379 --> 00:31:45.389 align:start position:0% there like I feel sometimes people 00:31:45.389 --> 00:31:47.060 align:start position:0% there like I feel sometimes people talking<00:31:45.750> about<00:31:45.870> this<00:31:46.200> and<00:31:46.380> they<00:31:46.409> just<00:31:46.649> want<00:31:46.919> to 00:31:47.060 --> 00:31:47.070 align:start position:0% talking about this and they just want to 00:31:47.070 --> 00:31:49.879 align:start position:0% talking about this and they just want to eliminate<00:31:47.220> the<00:31:47.549> people<00:31:47.880> I<00:31:48.029> completely<00:31:48.899> so<00:31:49.529> I 00:31:49.879 --> 00:31:49.889 align:start position:0% eliminate the people I completely so I 00:31:49.889 --> 00:31:52.460 align:start position:0% eliminate the people I completely so I don't<00:31:50.669> think<00:31:50.820> we<00:31:50.940> really<00:31:51.269> one<00:31:51.510> bit<00:31:51.779> we<00:31:52.019> want 00:31:52.460 --> 00:31:52.470 align:start position:0% don't think we really one bit we want 00:31:52.470 --> 00:31:56.570 align:start position:0% don't think we really one bit we want people<00:31:52.559> to<00:31:52.889> make<00:31:53.519> their<00:31:53.730> choices<00:31:54.059> and<00:31:54.799> I<00:31:55.799> think 00:31:56.570 --> 00:31:56.580 align:start position:0% people to make their choices and I think 00:31:56.580 --> 00:31:58.610 align:start position:0% people to make their choices and I think it<00:31:56.700> in<00:31:56.880> some<00:31:57.269> way<00:31:57.480> in<00:31:57.720> bitcoin<00:31:58.230> world<00:31:58.470> it<00:31:58.590> is 00:31:58.610 --> 00:31:58.620 align:start position:0% it in some way in bitcoin world it is 00:31:58.620 --> 00:32:01.580 align:start position:0% it in some way in bitcoin world it is possible<00:31:59.250> right<00:31:59.940> because<00:32:00.450> if<00:32:00.809> you<00:32:01.080> don't<00:32:01.260> want 00:32:01.580 --> 00:32:01.590 align:start position:0% possible right because if you don't want 00:32:01.590 --> 00:32:03.379 align:start position:0% possible right because if you don't want people<00:32:01.950> to<00:32:01.980> know<00:32:02.309> about<00:32:02.340> your<00:32:02.850> account<00:32:03.210> that 00:32:03.379 --> 00:32:03.389 align:start position:0% people to know about your account that 00:32:03.389 --> 00:32:05.720 align:start position:0% people to know about your account that it<00:32:03.510> is<00:32:03.630> your<00:32:03.840> account<00:32:04.080> you<00:32:04.769> can<00:32:04.919> do<00:32:05.130> it<00:32:05.250> and<00:32:05.429> now 00:32:05.720 --> 00:32:05.730 align:start position:0% it is your account you can do it and now 00:32:05.730 --> 00:32:07.340 align:start position:0% it is your account you can do it and now what<00:32:05.909> if<00:32:06.000> people<00:32:06.210> say<00:32:06.419> yeah<00:32:06.630> but<00:32:06.870> we<00:32:06.990> can<00:32:07.139> track 00:32:07.340 --> 00:32:07.350 align:start position:0% what if people say yeah but we can track 00:32:07.350 --> 00:32:09.740 align:start position:0% what if people say yeah but we can track you<00:32:07.559> and<00:32:07.590> we<00:32:07.860> can<00:32:08.010> do<00:32:08.100> that<00:32:08.309> there<00:32:08.610> is<00:32:08.730> there<00:32:09.720> is 00:32:09.740 --> 00:32:09.750 align:start position:0% you and we can do that there is there is 00:32:09.750 --> 00:32:12.769 align:start position:0% you and we can do that there is there is way<00:32:10.169> to<00:32:11.010> go<00:32:11.159> around<00:32:11.370> this<00:32:11.610> right<00:32:11.880> and<00:32:12.090> you<00:32:12.630> know 00:32:12.769 --> 00:32:12.779 align:start position:0% way to go around this right and you know 00:32:12.779 --> 00:32:16.850 align:start position:0% way to go around this right and you know this<00:32:12.980> so<00:32:13.980> also<00:32:14.580> on<00:32:14.909> material<00:32:15.500> but<00:32:16.500> we<00:32:16.740> are 00:32:16.850 --> 00:32:16.860 align:start position:0% this so also on material but we are 00:32:16.860 --> 00:32:20.450 align:start position:0% this so also on material but we are talking<00:32:17.190> about<00:32:18.649> next<00:32:19.649> next<00:32:20.070> wave<00:32:20.429> of 00:32:20.450 --> 00:32:20.460 align:start position:0% talking about next next wave of 00:32:20.460 --> 00:32:22.440 align:start position:0% talking about next next wave of blockchain<00:32:20.970> applications 00:32:22.440 --> 00:32:22.450 align:start position:0% blockchain applications 00:32:22.450 --> 00:32:26.130 align:start position:0% blockchain applications their<00:32:23.520> identity<00:32:24.520> and<00:32:24.610> reputation<00:32:25.360> is<00:32:25.540> going 00:32:26.130 --> 00:32:26.140 align:start position:0% their identity and reputation is going 00:32:26.140 --> 00:32:27.990 align:start position:0% their identity and reputation is going to<00:32:26.260> be<00:32:26.380> very<00:32:26.470> well<00:32:26.710> valuable<00:32:27.190> so<00:32:27.460> what<00:32:27.730> is<00:32:27.760> the 00:32:27.990 --> 00:32:28.000 align:start position:0% to be very well valuable so what is the 00:32:28.000 --> 00:32:30.750 align:start position:0% to be very well valuable so what is the reputation<00:32:28.540> reputation<00:32:28.990> is<00:32:29.410> a<00:32:29.520> historical<00:32:30.520> a 00:32:30.750 --> 00:32:30.760 align:start position:0% reputation reputation is a historical a 00:32:30.760 --> 00:32:33.510 align:start position:0% reputation reputation is a historical a tracking<00:32:31.720> of<00:32:31.930> value<00:32:32.470> trading<00:32:32.860> this<00:32:33.250> is<00:32:33.370> the 00:32:33.510 --> 00:32:33.520 align:start position:0% tracking of value trading this is the 00:32:33.520 --> 00:32:35.550 align:start position:0% tracking of value trading this is the exact<00:32:33.730> definition<00:32:34.240> of<00:32:34.630> reputation<00:32:35.380> right 00:32:35.550 --> 00:32:35.560 align:start position:0% exact definition of reputation right 00:32:35.560 --> 00:32:37.140 align:start position:0% exact definition of reputation right this<00:32:35.800> is<00:32:35.920> what<00:32:36.040> give<00:32:36.280> you<00:32:36.370> the<00:32:36.490> reputation<00:32:36.700> and 00:32:37.140 --> 00:32:37.150 align:start position:0% this is what give you the reputation and 00:32:37.150 --> 00:32:40.110 align:start position:0% this is what give you the reputation and you<00:32:37.630> want<00:32:37.930> reckon<00:32:38.380> so<00:32:38.680> if<00:32:38.980> you<00:32:39.160> say<00:32:39.370> no<00:32:39.580> I<00:32:39.880> don't 00:32:40.110 --> 00:32:40.120 align:start position:0% you want reckon so if you say no I don't 00:32:40.120 --> 00:32:41.820 align:start position:0% you want reckon so if you say no I don't want<00:32:40.360> to<00:32:40.480> put<00:32:40.630> my<00:32:40.780> identity<00:32:41.230> there<00:32:41.410> so<00:32:41.620> how<00:32:41.770> we 00:32:41.820 --> 00:32:41.830 align:start position:0% want to put my identity there so how we 00:32:41.830 --> 00:32:44.160 align:start position:0% want to put my identity there so how we track<00:32:42.160> your<00:32:42.340> repete<00:32:42.610> how<00:32:42.910> you<00:32:43.140> gain<00:32:44.140> your 00:32:44.160 --> 00:32:44.170 align:start position:0% track your repete how you gain your 00:32:44.170 --> 00:32:46.440 align:start position:0% track your repete how you gain your reputation<00:32:44.530> so<00:32:45.130> we<00:32:45.580> need<00:32:45.730> to<00:32:45.850> remember<00:32:46.090> this 00:32:46.440 --> 00:32:46.450 align:start position:0% reputation so we need to remember this 00:32:46.450 --> 00:32:51.770 align:start position:0% reputation so we need to remember this trade<00:32:47.080> of<00:32:47.260> here<00:32:47.500> is<00:32:48.010> though<00:32:48.340> yeah<00:32:49.090> I<00:32:50.490> like<00:32:51.490> it 00:32:51.770 --> 00:32:51.780 align:start position:0% trade of here is though yeah I like it 00:32:51.780 --> 00:32:55.350 align:start position:0% trade of here is though yeah I like it there's<00:32:52.780> also<00:32:52.990> a<00:32:53.140> case<00:32:53.680> of<00:32:54.360> selective 00:32:55.350 --> 00:32:55.360 align:start position:0% there's also a case of selective 00:32:55.360 --> 00:32:59.880 align:start position:0% there's also a case of selective disclosure<00:32:56.160> so<00:32:57.160> maybe<00:32:57.760> my<00:32:58.120> whole<00:32:58.740> history<00:32:59.740> is 00:32:59.880 --> 00:32:59.890 align:start position:0% disclosure so maybe my whole history is 00:32:59.890 --> 00:33:04.250 align:start position:0% disclosure so maybe my whole history is not<00:33:00.100> on<00:33:00.250> the<00:33:00.340> blockchain<00:33:00.550> but<00:33:01.060> it's<00:33:01.900> it<00:33:02.440> can<00:33:02.950> be 00:33:04.250 --> 00:33:04.260 align:start position:0% not on the blockchain but it's it can be 00:33:04.260 --> 00:33:08.330 align:start position:0% not on the blockchain but it's it can be yeah<00:33:05.260> like<00:33:05.530> I<00:33:05.560> can<00:33:06.160> use<00:33:06.690> anonymous 00:33:08.330 --> 00:33:08.340 align:start position:0% yeah like I can use anonymous 00:33:08.340 --> 00:33:11.280 align:start position:0% yeah like I can use anonymous identifiers<00:33:09.340> at<00:33:09.700> each<00:33:09.850> trade<00:33:10.270> and<00:33:10.570> then<00:33:11.020> when 00:33:11.280 --> 00:33:11.290 align:start position:0% identifiers at each trade and then when 00:33:11.290 --> 00:33:14.040 align:start position:0% identifiers at each trade and then when I<00:33:11.320> want<00:33:11.620> to<00:33:11.890> select<00:33:12.850> selectively<00:33:13.570> this<00:33:13.810> close 00:33:14.040 --> 00:33:14.050 align:start position:0% I want to select selectively this close 00:33:14.050 --> 00:33:15.690 align:start position:0% I want to select selectively this close to<00:33:14.080> someone<00:33:14.470> I<00:33:14.650> can<00:33:14.890> I<00:33:15.010> can<00:33:15.220> tie<00:33:15.460> those 00:33:15.690 --> 00:33:15.700 align:start position:0% to someone I can I can tie those 00:33:15.700 --> 00:33:18.710 align:start position:0% to someone I can I can tie those together<00:33:15.940> through<00:33:16.750> digital<00:33:17.050> signatures<00:33:17.770> so 00:33:18.710 --> 00:33:18.720 align:start position:0% together through digital signatures so 00:33:18.720 --> 00:33:21.450 align:start position:0% together through digital signatures so that<00:33:19.720> that<00:33:19.930> might<00:33:20.110> be<00:33:20.320> on<00:33:20.470> another<00:33:20.920> another 00:33:21.450 --> 00:33:21.460 align:start position:0% that that might be on another another 00:33:21.460 --> 00:33:27.840 align:start position:0% that that might be on another another way<00:33:21.670> I<00:33:24.330> choose<00:33:25.740> insecurity<00:33:26.740> it's<00:33:26.890> not<00:33:27.280> you<00:33:27.490> you 00:33:27.840 --> 00:33:27.850 align:start position:0% way I choose insecurity it's not you you 00:33:27.850 --> 00:33:29.370 align:start position:0% way I choose insecurity it's not you you should<00:33:28.030> not<00:33:28.240> give<00:33:28.480> it<00:33:28.600> to<00:33:28.720> anybody<00:33:28.930> about<00:33:29.170> to 00:33:29.370 --> 00:33:29.380 align:start position:0% should not give it to anybody about to 00:33:29.380 --> 00:33:30.840 align:start position:0% should not give it to anybody about to give<00:33:29.530> it<00:33:29.650> to<00:33:29.770> everybody<00:33:29.950> right<00:33:30.250> yeah<00:33:30.640> like 00:33:30.840 --> 00:33:30.850 align:start position:0% give it to everybody right yeah like 00:33:30.850 --> 00:33:33.690 align:start position:0% give it to everybody right yeah like something<00:33:31.270> like<00:33:31.390> that<00:33:31.570> sure<00:33:32.470> so<00:33:33.070> that's<00:33:33.550> a 00:33:33.690 --> 00:33:33.700 align:start position:0% something like that sure so that's a 00:33:33.700 --> 00:33:35.520 align:start position:0% something like that sure so that's a really<00:33:33.910> interesting<00:33:33.940> topic<00:33:34.600> in<00:33:34.870> itself<00:33:34.930> and<00:33:35.470> I 00:33:35.520 --> 00:33:35.530 align:start position:0% really interesting topic in itself and I 00:33:35.530 --> 00:33:36.720 align:start position:0% really interesting topic in itself and I think<00:33:35.710> definitely<00:33:35.830> something<00:33:36.310> worth 00:33:36.720 --> 00:33:36.730 align:start position:0% think definitely something worth 00:33:36.730 --> 00:33:39.180 align:start position:0% think definitely something worth discussing<00:33:37.240> is<00:33:37.600> there<00:33:37.810> isn't<00:33:38.050> really<00:33:38.320> i<00:33:38.860> mean 00:33:39.180 --> 00:33:39.190 align:start position:0% discussing is there isn't really i mean 00:33:39.190 --> 00:33:40.800 align:start position:0% discussing is there isn't really i mean i<00:33:39.430> think<00:33:39.610> consensus<00:33:40.120> is<00:33:40.270> looking<00:33:40.570> at<00:33:40.660> some 00:33:40.800 --> 00:33:40.810 align:start position:0% i think consensus is looking at some 00:33:40.810 --> 00:33:41.760 align:start position:0% i think consensus is looking at some interesting<00:33:41.170> things<00:33:41.290> in<00:33:41.470> terms<00:33:41.590> of 00:33:41.760 --> 00:33:41.770 align:start position:0% interesting things in terms of 00:33:41.770 --> 00:33:44.550 align:start position:0% interesting things in terms of reputation<00:33:42.510> but<00:33:43.510> perhaps<00:33:43.750> you<00:33:44.110> know<00:33:44.200> what<00:33:44.500> are 00:33:44.550 --> 00:33:44.560 align:start position:0% reputation but perhaps you know what are 00:33:44.560 --> 00:33:46.260 align:start position:0% reputation but perhaps you know what are your<00:33:44.680> ideas<00:33:44.710> and<00:33:45.160> however<00:33:45.640> what<00:33:46.000> reputation 00:33:46.260 --> 00:33:46.270 align:start position:0% your ideas and however what reputation 00:33:46.270 --> 00:33:47.940 align:start position:0% your ideas and however what reputation should<00:33:46.750> look<00:33:46.930> like<00:33:46.960> on<00:33:47.260> the<00:33:47.350> etherion<00:33:47.740> block 00:33:47.940 --> 00:33:47.950 align:start position:0% should look like on the etherion block 00:33:47.950 --> 00:33:51.150 align:start position:0% should look like on the etherion block chain<00:33:48.630> and<00:33:49.630> and<00:33:50.110> how'd<00:33:50.470> you<00:33:50.620> that<00:33:50.860> will<00:33:50.950> change 00:33:51.150 --> 00:33:51.160 align:start position:0% chain and and how'd you that will change 00:33:51.160 --> 00:33:52.620 align:start position:0% chain and and how'd you that will change the<00:33:51.400> way<00:33:51.520> that<00:33:51.730> your<00:33:51.880> your<00:33:52.060> services<00:33:52.510> that 00:33:52.620 --> 00:33:52.630 align:start position:0% the way that your your services that 00:33:52.630 --> 00:33:53.760 align:start position:0% the way that your your services that you've<00:33:52.720> created<00:33:52.870> how<00:33:53.170> about<00:33:53.410> how<00:33:53.500> people 00:33:53.760 --> 00:33:53.770 align:start position:0% you've created how about how people 00:33:53.770 --> 00:33:55.200 align:start position:0% you've created how about how people interact<00:33:53.980> with<00:33:54.220> that<00:33:54.340> once<00:33:54.520> reputation<00:33:55.060> is 00:33:55.200 --> 00:33:55.210 align:start position:0% interact with that once reputation is 00:33:55.210 --> 00:34:01.170 align:start position:0% interact with that once reputation is sold<00:33:56.910> versus<00:33:57.910> done<00:33:58.090> i<00:33:59.520> think<00:34:00.520> that<00:34:00.760> the<00:34:00.940> key 00:34:01.170 --> 00:34:01.180 align:start position:0% sold versus done i think that the key 00:34:01.180 --> 00:34:04.200 align:start position:0% sold versus done i think that the key yeah<00:34:01.870> i<00:34:02.140> think<00:34:02.590> okay<00:34:03.160> neutralize<00:34:04.030> you<00:34:04.120> the 00:34:04.200 --> 00:34:04.210 align:start position:0% yeah i think okay neutralize you the 00:34:04.210 --> 00:34:07.080 align:start position:0% yeah i think okay neutralize you the Gipper<00:34:04.450> okay<00:34:05.670> whatever<00:34:06.670> you<00:34:06.730> say<00:34:06.790> is<00:34:06.970> I 00:34:07.080 --> 00:34:07.090 align:start position:0% Gipper okay whatever you say is I 00:34:07.090 --> 00:34:09.930 align:start position:0% Gipper okay whatever you say is I actually<00:34:07.810> I<00:34:08.440> thought<00:34:09.430> about<00:34:09.550> this<00:34:09.670> a<00:34:09.790> lot<00:34:09.820> and 00:34:09.930 --> 00:34:09.940 align:start position:0% actually I thought about this a lot and 00:34:09.940 --> 00:34:11.340 align:start position:0% actually I thought about this a lot and the<00:34:10.090> conclusion<00:34:10.450> i<00:34:10.510> keep<00:34:10.690> coming<00:34:11.110> to<00:34:11.230> is 00:34:11.340 --> 00:34:11.350 align:start position:0% the conclusion i keep coming to is 00:34:11.350 --> 00:34:13.710 align:start position:0% the conclusion i keep coming to is they're<00:34:11.560> talking<00:34:12.550> about<00:34:12.610> reputation<00:34:13.450> like<00:34:13.690> a 00:34:13.710 --> 00:34:13.720 align:start position:0% they're talking about reputation like a 00:34:13.720 --> 00:34:15.720 align:start position:0% they're talking about reputation like a metric<00:34:14.110> with<00:34:14.230> one<00:34:14.560> number<00:34:14.740> just<00:34:15.430> doesn't<00:34:15.670> make 00:34:15.720 --> 00:34:15.730 align:start position:0% metric with one number just doesn't make 00:34:15.730 --> 00:34:18.480 align:start position:0% metric with one number just doesn't make sense<00:34:15.790> it's<00:34:16.450> to<00:34:16.690> contextual<00:34:17.320> and<00:34:17.590> it<00:34:17.980> you 00:34:18.480 --> 00:34:18.490 align:start position:0% sense it's to contextual and it you 00:34:18.490 --> 00:34:21.180 align:start position:0% sense it's to contextual and it you can't<00:34:19.060> just<00:34:19.600> one<00:34:19.810> number<00:34:20.110> like<00:34:20.530> your 00:34:21.180 --> 00:34:21.190 align:start position:0% can't just one number like your 00:34:21.190 --> 00:34:22.710 align:start position:0% can't just one number like your reputation<00:34:21.820> is<00:34:21.880> 100<00:34:22.300> that<00:34:22.420> doesn't<00:34:22.660> make 00:34:22.710 --> 00:34:22.720 align:start position:0% reputation is 100 that doesn't make 00:34:22.720 --> 00:34:25.200 align:start position:0% reputation is 100 that doesn't make sense<00:34:22.780> you<00:34:23.560> have<00:34:23.710> to<00:34:23.830> have<00:34:23.950> it<00:34:24.070> yeah<00:34:24.280> okay<00:34:24.520> well 00:34:25.200 --> 00:34:25.210 align:start position:0% sense you have to have it yeah okay well 00:34:25.210 --> 00:34:29.430 align:start position:0% sense you have to have it yeah okay well that's<00:34:25.420> all<00:34:25.570> I<00:34:25.630> want<00:34:25.810> to<00:34:25.870> say<00:34:27.570> yeah<00:34:28.570> for 00:34:29.430 --> 00:34:29.440 align:start position:0% that's all I want to say yeah for 00:34:29.440 --> 00:34:30.730 align:start position:0% that's all I want to say yeah for anybody<00:34:29.830> who 00:34:30.730 --> 00:34:30.740 align:start position:0% anybody who 00:34:30.740 --> 00:34:32.980 align:start position:0% anybody who doesn't<00:34:31.280> follow<00:34:31.610> exactly<00:34:32.000> what<00:34:32.510> that<00:34:32.690> means 00:34:32.980 --> 00:34:32.990 align:start position:0% doesn't follow exactly what that means 00:34:32.990 --> 00:34:36.460 align:start position:0% doesn't follow exactly what that means right<00:34:33.399> now<00:34:34.399> when<00:34:34.909> you<00:34:35.000> look<00:34:35.179> around<00:34:35.330> at<00:34:35.929> things 00:34:36.460 --> 00:34:36.470 align:start position:0% right now when you look around at things 00:34:36.470 --> 00:34:38.950 align:start position:0% right now when you look around at things like<00:34:36.590> reputations<00:34:37.429> and<00:34:37.639> ratings<00:34:38.060> you<00:34:38.840> know 00:34:38.950 --> 00:34:38.960 align:start position:0% like reputations and ratings you know 00:34:38.960 --> 00:34:40.419 align:start position:0% like reputations and ratings you know each<00:34:39.139> movie<00:34:39.560> has<00:34:39.770> a<00:34:39.800> single<00:34:40.220> number 00:34:40.419 --> 00:34:40.429 align:start position:0% each movie has a single number 00:34:40.429 --> 00:34:43.600 align:start position:0% each movie has a single number associated<00:34:41.149> with<00:34:41.570> it<00:34:42.159> all<00:34:43.159> of<00:34:43.220> those<00:34:43.550> things 00:34:43.600 --> 00:34:43.610 align:start position:0% associated with it all of those things 00:34:43.610 --> 00:34:45.520 align:start position:0% associated with it all of those things there's<00:34:44.119> this<00:34:44.240> like<00:34:44.419> global<00:34:44.780> number<00:34:45.260> that<00:34:45.440> we 00:34:45.520 --> 00:34:45.530 align:start position:0% there's this like global number that we 00:34:45.530 --> 00:34:47.320 align:start position:0% there's this like global number that we pretend<00:34:45.950> that<00:34:46.040> we<00:34:46.129> can<00:34:46.340> prescribe<00:34:46.820> the<00:34:47.179> how 00:34:47.320 --> 00:34:47.330 align:start position:0% pretend that we can prescribe the how 00:34:47.330 --> 00:34:50.109 align:start position:0% pretend that we can prescribe the how good<00:34:47.480> a<00:34:47.540> movie<00:34:47.899> is<00:34:48.020> or<00:34:48.290> or<00:34:48.700> whatever<00:34:49.700> else<00:34:49.879> we 00:34:50.109 --> 00:34:50.119 align:start position:0% good a movie is or or whatever else we 00:34:50.119 --> 00:34:53.050 align:start position:0% good a movie is or or whatever else we want<00:34:50.240> to<00:34:50.419> rate<00:34:50.810> and<00:34:51.080> I<00:34:51.740> completely<00:34:52.520> agree<00:34:52.850> with 00:34:53.050 --> 00:34:53.060 align:start position:0% want to rate and I completely agree with 00:34:53.060 --> 00:34:56.379 align:start position:0% want to rate and I completely agree with this<00:34:53.330> that<00:34:53.389> that<00:34:54.050> that<00:34:54.740> that<00:34:55.010> rating<00:34:55.790> does<00:34:56.179> not 00:34:56.379 --> 00:34:56.389 align:start position:0% this that that that that rating does not 00:34:56.389 --> 00:34:58.660 align:start position:0% this that that that that rating does not it's<00:34:56.780> contextual<00:34:57.410> it's<00:34:57.800> contextual<00:34:58.250> about 00:34:58.660 --> 00:34:58.670 align:start position:0% it's contextual it's contextual about 00:34:58.670 --> 00:35:01.180 align:start position:0% it's contextual it's contextual about who<00:34:59.150> your<00:34:59.330> friends<00:34:59.690> are<00:34:59.869> who<00:35:00.230> your<00:35:00.740> social 00:35:01.180 --> 00:35:01.190 align:start position:0% who your friends are who your social 00:35:01.190 --> 00:35:03.490 align:start position:0% who your friends are who your social community<00:35:01.640> is<00:35:01.850> where<00:35:02.270> you<00:35:02.480> live<00:35:02.780> all<00:35:03.170> of<00:35:03.350> those 00:35:03.490 --> 00:35:03.500 align:start position:0% community is where you live all of those 00:35:03.500 --> 00:35:07.230 align:start position:0% community is where you live all of those things<00:35:03.560> can<00:35:04.550> play<00:35:04.910> into<00:35:05.450> the<00:35:06.110> context<00:35:06.619> of 00:35:07.230 --> 00:35:07.240 align:start position:0% things can play into the context of 00:35:07.240 --> 00:35:09.880 align:start position:0% things can play into the context of determining<00:35:08.240> how<00:35:08.510> trustable<00:35:09.170> you<00:35:09.650> are 00:35:09.880 --> 00:35:09.890 align:start position:0% determining how trustable you are 00:35:09.890 --> 00:35:12.880 align:start position:0% determining how trustable you are because<00:35:10.550> trust<00:35:10.850> is<00:35:11.030> not<00:35:11.090> a<00:35:11.270> global<00:35:11.890> trust 00:35:12.880 --> 00:35:12.890 align:start position:0% because trust is not a global trust 00:35:12.890 --> 00:35:14.680 align:start position:0% because trust is not a global trust reputation<00:35:13.580> whatever<00:35:14.119> you<00:35:14.240> want<00:35:14.390> to<00:35:14.450> call<00:35:14.630> it 00:35:14.680 --> 00:35:14.690 align:start position:0% reputation whatever you want to call it 00:35:14.690 --> 00:35:16.960 align:start position:0% reputation whatever you want to call it all<00:35:15.080> these<00:35:15.440> different<00:35:15.680> metrics<00:35:16.190> but<00:35:16.400> there's 00:35:16.960 --> 00:35:16.970 align:start position:0% all these different metrics but there's 00:35:16.970 --> 00:35:20.740 align:start position:0% all these different metrics but there's no<00:35:17.270> single<00:35:17.600> number<00:35:17.900> because<00:35:18.410> my<00:35:19.420> friends<00:35:20.420> can 00:35:20.740 --> 00:35:20.750 align:start position:0% no single number because my friends can 00:35:20.750 --> 00:35:23.890 align:start position:0% no single number because my friends can trust<00:35:21.080> me<00:35:21.410> more<00:35:21.710> than<00:35:22.250> utter<00:35:22.670> strangers<00:35:23.450> in 00:35:23.890 --> 00:35:23.900 align:start position:0% trust me more than utter strangers in 00:35:23.900 --> 00:35:26.080 align:start position:0% trust me more than utter strangers in all<00:35:24.110> kinds<00:35:24.560> of<00:35:24.619> things<00:35:24.920> because<00:35:25.310> the<00:35:25.850> chances 00:35:26.080 --> 00:35:26.090 align:start position:0% all kinds of things because the chances 00:35:26.090 --> 00:35:27.790 align:start position:0% all kinds of things because the chances that<00:35:26.390> i'll<00:35:26.660> miss<00:35:26.900> behave<00:35:27.320> with<00:35:27.590> other 00:35:27.790 --> 00:35:27.800 align:start position:0% that i'll miss behave with other 00:35:27.800 --> 00:35:31.150 align:start position:0% that i'll miss behave with other strangers<00:35:28.460> are<00:35:29.020> higher<00:35:30.020> than<00:35:30.050> with<00:35:30.740> people 00:35:31.150 --> 00:35:31.160 align:start position:0% strangers are higher than with people 00:35:31.160 --> 00:35:32.880 align:start position:0% strangers are higher than with people that<00:35:31.310> are<00:35:31.430> in<00:35:31.580> my<00:35:31.610> clothes<00:35:32.030> community<00:35:32.540> so 00:35:32.880 --> 00:35:32.890 align:start position:0% that are in my clothes community so 00:35:32.890 --> 00:35:37.710 align:start position:0% that are in my clothes community so trust<00:35:33.890> is<00:35:34.040> very<00:35:34.250> much<00:35:34.430> a<00:35:34.490> function<00:35:34.940> of<00:35:35.830> context 00:35:37.710 --> 00:35:37.720 align:start position:0% trust is very much a function of context 00:35:37.720 --> 00:35:40.390 align:start position:0% trust is very much a function of context absolutely<00:35:38.720> I<00:35:38.750> agree<00:35:38.780> with<00:35:39.109> this<00:35:39.260> it's<00:35:40.190> not<00:35:40.369> a 00:35:40.390 --> 00:35:40.400 align:start position:0% absolutely I agree with this it's not a 00:35:40.400 --> 00:35:42.849 align:start position:0% absolutely I agree with this it's not a number<00:35:40.730> it's<00:35:40.970> a<00:35:41.090> set<00:35:41.300> of<00:35:41.450> numbers<00:35:41.630> so<00:35:42.470> it's<00:35:42.770> a 00:35:42.849 --> 00:35:42.859 align:start position:0% number it's a set of numbers so it's a 00:35:42.859 --> 00:35:45.160 align:start position:0% number it's a set of numbers so it's a set<00:35:43.070> of<00:35:43.190> numbers<00:35:43.400> and<00:35:43.810> everybody<00:35:44.810> reacts 00:35:45.160 --> 00:35:45.170 align:start position:0% set of numbers and everybody reacts 00:35:45.170 --> 00:35:47.680 align:start position:0% set of numbers and everybody reacts differently<00:35:45.470> to<00:35:46.130> the<00:35:46.250> set<00:35:46.520> of<00:35:46.640> numbers<00:35:46.820> yeah 00:35:47.680 --> 00:35:47.690 align:start position:0% differently to the set of numbers yeah 00:35:47.690 --> 00:35:50.140 align:start position:0% differently to the set of numbers yeah like<00:35:48.050> if<00:35:48.350> I<00:35:48.710> have<00:35:48.920> I<00:35:49.220> don't<00:35:49.400> know<00:35:49.490> I<00:35:49.520> say<00:35:49.850> five 00:35:50.140 --> 00:35:50.150 align:start position:0% like if I have I don't know I say five 00:35:50.150 --> 00:35:53.349 align:start position:0% like if I have I don't know I say five keys<00:35:50.570> so<00:35:51.260> I<00:35:51.290> have<00:35:51.530> five<00:35:51.859> in<00:35:52.280> my<00:35:52.460> reputation<00:35:52.730> in 00:35:53.349 --> 00:35:53.359 align:start position:0% keys so I have five in my reputation in 00:35:53.359 --> 00:35:55.960 align:start position:0% keys so I have five in my reputation in the<00:35:53.540> key<00:35:53.690> to<00:35:53.750> section<00:35:54.260> so<00:35:54.830> somebody<00:35:55.670> will<00:35:55.820> say 00:35:55.960 --> 00:35:55.970 align:start position:0% the key to section so somebody will say 00:35:55.970 --> 00:35:57.790 align:start position:0% the key to section so somebody will say hey<00:35:56.000> this<00:35:56.480> is<00:35:56.660> great<00:35:56.780> guy<00:35:57.020> he<00:35:57.200> said<00:35:57.380> kids<00:35:57.619> i 00:35:57.790 --> 00:35:57.800 align:start position:0% hey this is great guy he said kids i 00:35:57.800 --> 00:36:00.490 align:start position:0% hey this is great guy he said kids i said<00:35:58.070> no<00:35:58.190> i<00:35:58.220> hate<00:35:58.670> heads<00:35:58.970> right<00:35:59.210> so<00:35:59.780> maybe<00:36:00.200> he's 00:36:00.490 --> 00:36:00.500 align:start position:0% said no i hate heads right so maybe he's 00:36:00.500 --> 00:36:02.590 align:start position:0% said no i hate heads right so maybe he's not<00:36:00.650> so<00:36:00.859> good<00:36:01.040> so<00:36:01.280> this<00:36:01.910> is<00:36:02.060> the<00:36:02.180> idea<00:36:02.240> the<00:36:02.540> idea 00:36:02.590 --> 00:36:02.600 align:start position:0% not so good so this is the idea the idea 00:36:02.600 --> 00:36:06.609 align:start position:0% not so good so this is the idea the idea is<00:36:02.900> you<00:36:02.930> keep<00:36:03.350> trick<00:36:03.710> that<00:36:04.430> the<00:36:04.840> the<00:36:05.840> history 00:36:06.609 --> 00:36:06.619 align:start position:0% is you keep trick that the the history 00:36:06.619 --> 00:36:10.510 align:start position:0% is you keep trick that the the history of<00:36:06.859> doing<00:36:07.609> value<00:36:08.180> in<00:36:08.900> some<00:36:09.170> way<00:36:09.440> but<00:36:09.980> people 00:36:10.510 --> 00:36:10.520 align:start position:0% of doing value in some way but people 00:36:10.520 --> 00:36:14.410 align:start position:0% of doing value in some way but people will<00:36:10.880> take<00:36:11.510> it<00:36:11.780> differently<00:36:13.150> is<00:36:14.150> there'll<00:36:14.390> be 00:36:14.410 --> 00:36:14.420 align:start position:0% will take it differently is there'll be 00:36:14.420 --> 00:36:17.080 align:start position:0% will take it differently is there'll be there<00:36:15.170> will<00:36:15.290> be<00:36:15.410> like<00:36:15.590> a<00:36:15.619> popular<00:36:16.460> reputation 00:36:17.080 --> 00:36:17.090 align:start position:0% there will be like a popular reputation 00:36:17.090 --> 00:36:18.730 align:start position:0% there will be like a popular reputation functions<00:36:17.510> so<00:36:17.720> like<00:36:17.869> each<00:36:18.050> individual<00:36:18.530> user 00:36:18.730 --> 00:36:18.740 align:start position:0% functions so like each individual user 00:36:18.740 --> 00:36:21.220 align:start position:0% functions so like each individual user chooses<00:36:19.580> how<00:36:20.150> they<00:36:20.330> interpret<00:36:20.720> the<00:36:20.810> data<00:36:20.960> but 00:36:21.220 --> 00:36:21.230 align:start position:0% chooses how they interpret the data but 00:36:21.230 --> 00:36:22.930 align:start position:0% chooses how they interpret the data but there's<00:36:21.410> a<00:36:21.470> couple<00:36:21.680> of<00:36:21.859> ones<00:36:22.250> that<00:36:22.490> are<00:36:22.609> pretty 00:36:22.930 --> 00:36:22.940 align:start position:0% there's a couple of ones that are pretty 00:36:22.940 --> 00:36:29.890 align:start position:0% there's a couple of ones that are pretty good<00:36:23.180> for<00:36:23.480> many<00:36:23.690> cases<00:36:27.100> talk<00:36:28.100> and<00:36:28.490> standard<00:36:29.450> we 00:36:29.890 --> 00:36:29.900 align:start position:0% good for many cases talk and standard we 00:36:29.900 --> 00:36:31.510 align:start position:0% good for many cases talk and standard we need<00:36:30.050> to<00:36:30.200> see<00:36:30.440> how<00:36:30.619> this<00:36:30.830> reputation<00:36:31.070> moves 00:36:31.510 --> 00:36:31.520 align:start position:0% need to see how this reputation moves 00:36:31.520 --> 00:36:35.130 align:start position:0% need to see how this reputation moves between<00:36:31.700> the<00:36:32.000> dubs<00:36:32.260> it's<00:36:33.260> also<00:36:33.590> theoretically 00:36:35.130 --> 00:36:35.140 align:start position:0% between the dubs it's also theoretically 00:36:35.140 --> 00:36:39.040 align:start position:0% between the dubs it's also theoretically too<00:36:36.140> complex<00:36:36.980> for<00:36:37.220> the<00:36:37.520> current<00:36:37.940> like<00:36:38.540> limits 00:36:39.040 --> 00:36:39.050 align:start position:0% too complex for the current like limits 00:36:39.050 --> 00:36:42.600 align:start position:0% too complex for the current like limits of<00:36:39.490> the<00:36:40.490> block<00:36:40.730> chain<00:36:40.820> right<00:36:41.210> now 00:36:42.600 --> 00:36:42.610 align:start position:0% of the block chain right now 00:36:42.610 --> 00:36:45.190 align:start position:0% of the block chain right now I'm<00:36:43.610> speaking<00:36:44.030> outside<00:36:44.330> of<00:36:44.660> my<00:36:44.810> level<00:36:45.110> of 00:36:45.190 --> 00:36:45.200 align:start position:0% I'm speaking outside of my level of 00:36:45.200 --> 00:36:48.250 align:start position:0% I'm speaking outside of my level of expertise<00:36:45.770> but<00:36:46.100> the<00:36:46.400> the<00:36:46.970> math<00:36:47.210> involved<00:36:47.780> in 00:36:48.250 --> 00:36:48.260 align:start position:0% expertise but the the math involved in 00:36:48.260 --> 00:36:51.970 align:start position:0% expertise but the the math involved in doing<00:36:48.470> those<00:36:48.920> contextual<00:36:50.680> computations<00:36:51.680> is 00:36:51.970 --> 00:36:51.980 align:start position:0% doing those contextual computations is 00:36:51.980 --> 00:36:54.760 align:start position:0% doing those contextual computations is likely<00:36:52.700> above<00:36:53.120> the<00:36:53.450> PI<00:36:53.660> million<00:36:54.110> gas<00:36:54.350> limit 00:36:54.760 --> 00:36:54.770 align:start position:0% likely above the PI million gas limit 00:36:54.770 --> 00:36:57.640 align:start position:0% likely above the PI million gas limit that<00:36:55.040> we're<00:36:55.220> currently<00:36:55.840> limited<00:36:56.840> by<00:36:57.200> so 00:36:57.640 --> 00:36:57.650 align:start position:0% that we're currently limited by so 00:36:57.650 --> 00:36:59.590 align:start position:0% that we're currently limited by so chances<00:36:58.370> are<00:36:58.550> this<00:36:59.000> is<00:36:59.180> something<00:36:59.480> that's 00:36:59.590 --> 00:36:59.600 align:start position:0% chances are this is something that's 00:36:59.600 --> 00:37:03.070 align:start position:0% chances are this is something that's going<00:36:59.780> to<00:36:59.870> have<00:37:00.440> to<00:37:00.470> evolve<00:37:01.130> over<00:37:01.490> time<00:37:01.640> as<00:37:02.270> the 00:37:03.070 --> 00:37:03.080 align:start position:0% going to have to evolve over time as the 00:37:03.080 --> 00:37:04.990 align:start position:0% going to have to evolve over time as the network<00:37:03.440> speeds<00:37:03.800> up<00:37:03.980> and<00:37:04.250> hopefully<00:37:04.550> we 00:37:04.990 --> 00:37:05.000 align:start position:0% network speeds up and hopefully we 00:37:05.000 --> 00:37:07.980 align:start position:0% network speeds up and hopefully we achieve<00:37:05.510> you<00:37:06.170> know<00:37:06.200> that<00:37:06.710> that<00:37:07.190> scaling 00:37:07.980 --> 00:37:07.990 align:start position:0% achieve you know that that scaling 00:37:07.990 --> 00:37:13.150 align:start position:0% achieve you know that that scaling promise<00:37:11.350> the<00:37:12.350> problem<00:37:12.680> is<00:37:12.830> that<00:37:13.010> you<00:37:13.130> don't 00:37:13.150 --> 00:37:13.160 align:start position:0% promise the problem is that you don't 00:37:13.160 --> 00:37:15.340 align:start position:0% promise the problem is that you don't have<00:37:13.490> enough<00:37:13.700> services<00:37:14.270> the<00:37:14.690> trail<00:37:14.900> operates 00:37:15.340 --> 00:37:15.350 align:start position:0% have enough services the trail operates 00:37:15.350 --> 00:37:19.180 align:start position:0% have enough services the trail operates over<00:37:15.530> time<00:37:15.920> and<00:37:17.650> it's<00:37:18.650> kind<00:37:18.890> of<00:37:18.950> a<00:37:19.070> little 00:37:19.180 --> 00:37:19.190 align:start position:0% over time and it's kind of a little 00:37:19.190 --> 00:37:22.210 align:start position:0% over time and it's kind of a little different<00:37:19.640> services<00:37:20.210> how<00:37:20.780> can<00:37:21.140> the<00:37:21.920> people 00:37:22.210 --> 00:37:22.220 align:start position:0% different services how can the people 00:37:22.220 --> 00:37:24.280 align:start position:0% different services how can the people using<00:37:22.400> the<00:37:22.580> senses<00:37:23.030> how<00:37:23.450> they<00:37:23.690> want<00:37:23.900> to<00:37:24.050> lose 00:37:24.280 --> 00:37:24.290 align:start position:0% using the senses how they want to lose 00:37:24.290 --> 00:37:26.320 align:start position:0% using the senses how they want to lose reputation<00:37:24.920> from<00:37:25.040> place<00:37:25.280> to<00:37:25.460> place<00:37:25.490> it's<00:37:26.150> also 00:37:26.320 --> 00:37:26.330 align:start position:0% reputation from place to place it's also 00:37:26.330 --> 00:37:28.840 align:start position:0% reputation from place to place it's also touching<00:37:26.810> the<00:37:26.930> dedication<00:37:27.590> of<00:37:27.680> agreements<00:37:28.220> is 00:37:28.840 --> 00:37:28.850 align:start position:0% touching the dedication of agreements is 00:37:28.850 --> 00:37:30.220 align:start position:0% touching the dedication of agreements is with<00:37:29.000> the<00:37:29.090> sheriff<00:37:29.480> and<00:37:29.600> the<00:37:29.780> guy<00:37:29.900> who<00:37:29.960> gave 00:37:30.220 --> 00:37:30.230 align:start position:0% with the sheriff and the guy who gave 00:37:30.230 --> 00:37:34.420 align:start position:0% with the sheriff and the guy who gave the<00:37:30.380> service<00:37:30.740> so<00:37:31.900> yeah<00:37:32.900> oh<00:37:33.140> so<00:37:33.620> you<00:37:34.190> just<00:37:34.220> need 00:37:34.420 --> 00:37:34.430 align:start position:0% the service so yeah oh so you just need 00:37:34.430 --> 00:37:38.230 align:start position:0% the service so yeah oh so you just need time<00:37:34.760> to<00:37:35.030> see<00:37:35.270> these<00:37:35.810> services<00:37:36.880> being<00:37:37.880> mature 00:37:38.230 --> 00:37:38.240 align:start position:0% time to see these services being mature 00:37:38.240 --> 00:37:41.710 align:start position:0% time to see these services being mature and<00:37:39.010> operate<00:37:40.010> over<00:37:40.160> time<00:37:40.550> and<00:37:40.850> then<00:37:41.360> sharing 00:37:41.710 --> 00:37:41.720 align:start position:0% and operate over time and then sharing 00:37:41.720 --> 00:37:42.970 align:start position:0% and operate over time and then sharing this<00:37:41.990> information<00:37:42.320> because<00:37:42.830> the 00:37:42.970 --> 00:37:42.980 align:start position:0% this information because the 00:37:42.980 --> 00:37:45.700 align:start position:0% this information because the infrastructure<00:37:43.310> is<00:37:43.730> they're<00:37:43.910> right<00:37:44.120> but<00:37:44.720> you 00:37:45.700 --> 00:37:45.710 align:start position:0% infrastructure is they're right but you 00:37:45.710 --> 00:37:47.770 align:start position:0% infrastructure is they're right but you need<00:37:46.040> just<00:37:46.220> to<00:37:46.340> study<00:37:46.580> how<00:37:46.790> it<00:37:46.970> operates<00:37:47.390> for 00:37:47.770 --> 00:37:47.780 align:start position:0% need just to study how it operates for 00:37:47.780 --> 00:37:52.330 align:start position:0% need just to study how it operates for real<00:37:49.330> is<00:37:50.330> that<00:37:50.570> the<00:37:51.170> more<00:37:51.350> trust<00:37:51.740> list<00:37:51.980> stuff 00:37:52.330 --> 00:37:52.340 align:start position:0% real is that the more trust list stuff 00:37:52.340 --> 00:37:53.680 align:start position:0% real is that the more trust list stuff we<00:37:52.580> build<00:37:52.760> the<00:37:52.880> last<00:37:53.060> data<00:37:53.240> we<00:37:53.360> have<00:37:53.480> for 00:37:53.680 --> 00:37:53.690 align:start position:0% we build the last data we have for 00:37:53.690 --> 00:38:02.290 align:start position:0% we build the last data we have for reputation<00:37:55.660> later<00:37:56.660> price<00:38:00.190> it's<00:38:01.190> possible<00:38:01.430> yet 00:38:02.290 --> 00:38:02.300 align:start position:0% reputation later price it's possible yet 00:38:02.300 --> 00:38:04.720 align:start position:0% reputation later price it's possible yet definitely<00:38:02.960> that<00:38:03.080> will<00:38:03.230> have<00:38:03.730> middleware 00:38:04.720 --> 00:38:04.730 align:start position:0% definitely that will have middleware 00:38:04.730 --> 00:38:07.150 align:start position:0% definitely that will have middleware services<00:38:05.600> that<00:38:05.840> are<00:38:05.960> trustless<00:38:06.440> and<00:38:06.770> they 00:38:07.150 --> 00:38:07.160 align:start position:0% services that are trustless and they 00:38:07.160 --> 00:38:09.550 align:start position:0% services that are trustless and they don't<00:38:07.420> they<00:38:08.420> don't<00:38:08.450> care<00:38:08.840> on<00:38:09.050> the<00:38:09.170> input<00:38:09.350> side 00:38:09.550 --> 00:38:09.560 align:start position:0% don't they don't care on the input side 00:38:09.560 --> 00:38:13.360 align:start position:0% don't they don't care on the input side who<00:38:10.430> sends<00:38:10.760> it<00:38:10.940> input<00:38:11.530> so<00:38:12.530> right<00:38:13.070> now<00:38:13.100> I<00:38:13.250> think 00:38:13.360 --> 00:38:13.370 align:start position:0% who sends it input so right now I think 00:38:13.370 --> 00:38:15.730 align:start position:0% who sends it input so right now I think at<00:38:14.120> least<00:38:14.300> with<00:38:14.510> VDC<00:38:14.870> really<00:38:15.140> doesn't<00:38:15.560> care 00:38:15.730 --> 00:38:15.740 align:start position:0% at least with VDC really doesn't care 00:38:15.740 --> 00:38:18.610 align:start position:0% at least with VDC really doesn't care who<00:38:15.980> sends<00:38:16.640> it<00:38:16.760> headers<00:38:17.480> and<00:38:18.260> probably<00:38:18.530> the 00:38:18.610 --> 00:38:18.620 align:start position:0% who sends it headers and probably the 00:38:18.620 --> 00:38:19.810 align:start position:0% who sends it headers and probably the same<00:38:18.740> thing<00:38:18.770> with<00:38:19.040> the<00:38:19.130> alarm<00:38:19.370> clock<00:38:19.490> doesn't 00:38:19.810 --> 00:38:19.820 align:start position:0% same thing with the alarm clock doesn't 00:38:19.820 --> 00:38:23.200 align:start position:0% same thing with the alarm clock doesn't care<00:38:20.230> whoever<00:38:21.230> is<00:38:21.620> a<00:38:21.890> triggering<00:38:22.700> calls<00:38:22.970> for 00:38:23.200 --> 00:38:23.210 align:start position:0% care whoever is a triggering calls for 00:38:23.210 --> 00:38:27.790 align:start position:0% care whoever is a triggering calls for other<00:38:23.300> contracts<00:38:24.340> so<00:38:25.340> so<00:38:25.610> there's<00:38:25.790> also<00:38:26.030> a<00:38:26.800> an 00:38:27.790 --> 00:38:27.800 align:start position:0% other contracts so so there's also a an 00:38:27.800 --> 00:38:30.940 align:start position:0% other contracts so so there's also a an interesting<00:38:28.790> aspect<00:38:28.940> of<00:38:29.480> crypto<00:38:30.350> economics 00:38:30.940 --> 00:38:30.950 align:start position:0% interesting aspect of crypto economics 00:38:30.950 --> 00:38:35.880 align:start position:0% interesting aspect of crypto economics which<00:38:31.670> is<00:38:33.310> how<00:38:34.310> to<00:38:34.370> build<00:38:34.700> system<00:38:35.240> that<00:38:35.600> is 00:38:35.880 --> 00:38:35.890 align:start position:0% which is how to build system that is 00:38:35.890 --> 00:38:39.880 align:start position:0% which is how to build system that is independent<00:38:36.890> of<00:38:37.070> reputation<00:38:37.790> and<00:38:37.940> so<00:38:38.660> I<00:38:39.050> think 00:38:39.880 --> 00:38:39.890 align:start position:0% independent of reputation and so I think 00:38:39.890 --> 00:38:42.160 align:start position:0% independent of reputation and so I think reputation<00:38:40.820> will<00:38:41.120> play<00:38:41.360> play<00:38:41.750> a<00:38:41.780> huge<00:38:42.050> role 00:38:42.160 --> 00:38:42.170 align:start position:0% reputation will play play a huge role 00:38:42.170 --> 00:38:46.559 align:start position:0% reputation will play play a huge role but<00:38:43.690> there's<00:38:44.690> also 00:38:46.559 --> 00:38:46.569 align:start position:0% but there's also 00:38:46.569 --> 00:38:51.430 align:start position:0% but there's also mechanisms<00:38:47.569> like<00:38:48.190> security<00:38:49.190> bombs<00:38:49.549> etc<00:38:50.440> that 00:38:51.430 --> 00:38:51.440 align:start position:0% mechanisms like security bombs etc that 00:38:51.440 --> 00:38:56.799 align:start position:0% mechanisms like security bombs etc that can<00:38:51.880> give<00:38:52.880> a<00:38:54.250> rational<00:38:55.250> incentive<00:38:55.940> to<00:38:56.180> to<00:38:56.510> some 00:38:56.799 --> 00:38:56.809 align:start position:0% can give a rational incentive to to some 00:38:56.809 --> 00:38:59.680 align:start position:0% can give a rational incentive to to some unknown<00:38:57.460> individual<00:38:58.460> to<00:38:58.670> act<00:38:59.180> in<00:38:59.420> a<00:38:59.510> certain 00:38:59.680 --> 00:38:59.690 align:start position:0% unknown individual to act in a certain 00:38:59.690 --> 00:39:04.029 align:start position:0% unknown individual to act in a certain way<00:38:59.869> so<00:39:00.200> so<00:39:01.069> that's<00:39:01.250> kind<00:39:01.520> of<00:39:01.609> the<00:39:02.980> you<00:39:03.980> know 00:39:04.029 --> 00:39:04.039 align:start position:0% way so so that's kind of the you know 00:39:04.039 --> 00:39:07.599 align:start position:0% way so so that's kind of the you know how<00:39:04.520> to<00:39:04.579> deal<00:39:05.270> with<00:39:06.130> entities<00:39:07.130> without 00:39:07.599 --> 00:39:07.609 align:start position:0% how to deal with entities without 00:39:07.609 --> 00:39:12.520 align:start position:0% how to deal with entities without reputation<00:39:10.059> but<00:39:11.059> but<00:39:11.539> I<00:39:11.599> I<00:39:11.809> agree<00:39:12.349> that 00:39:12.520 --> 00:39:12.530 align:start position:0% reputation but but I I agree that 00:39:12.530 --> 00:39:17.079 align:start position:0% reputation but but I I agree that reputation<00:39:13.099> is<00:39:13.579> a<00:39:13.970> big<00:39:14.349> thing<00:39:15.349> and<00:39:15.619> I<00:39:15.950> think<00:39:16.089> I 00:39:17.079 --> 00:39:17.089 align:start position:0% reputation is a big thing and I think I 00:39:17.089 --> 00:39:21.750 align:start position:0% reputation is a big thing and I think I believe<00:39:18.039> so<00:39:19.039> christopher<00:39:20.030> Allen<00:39:20.329> said<00:39:20.569> that 00:39:21.750 --> 00:39:21.760 align:start position:0% believe so christopher Allen said that 00:39:21.760 --> 00:39:25.390 align:start position:0% believe so christopher Allen said that we<00:39:22.760> we<00:39:23.690> want<00:39:23.900> to<00:39:23.960> own<00:39:24.140> our<00:39:24.170> own<00:39:24.440> identities<00:39:25.190> or 00:39:25.390 --> 00:39:25.400 align:start position:0% we we want to own our own identities or 00:39:25.400 --> 00:39:28.510 align:start position:0% we we want to own our own identities or we<00:39:25.880> don't<00:39:26.000> necessarily<00:39:26.150> own<00:39:26.780> our<00:39:27.520> reputation 00:39:28.510 --> 00:39:28.520 align:start position:0% we don't necessarily own our reputation 00:39:28.520 --> 00:39:31.750 align:start position:0% we don't necessarily own our reputation it's<00:39:28.760> it's<00:39:29.450> given<00:39:30.200> to<00:39:30.319> us<00:39:30.440> in<00:39:30.650> in<00:39:30.980> the<00:39:31.130> context 00:39:31.750 --> 00:39:31.760 align:start position:0% it's it's given to us in in the context 00:39:31.760 --> 00:39:34.990 align:start position:0% it's it's given to us in in the context that<00:39:31.910> way<00:39:32.660> that<00:39:33.380> we<00:39:33.530> exist<00:39:33.680> in<00:39:34.039> and<00:39:34.220> so<00:39:34.789> that 00:39:34.990 --> 00:39:35.000 align:start position:0% that way that we exist in and so that 00:39:35.000 --> 00:39:37.750 align:start position:0% that way that we exist in and so that that<00:39:35.420> also<00:39:35.809> relates<00:39:36.109> to<00:39:36.410> to<00:39:37.069> moving 00:39:37.750 --> 00:39:37.760 align:start position:0% that also relates to to moving 00:39:37.760 --> 00:39:40.120 align:start position:0% that also relates to to moving reputation<00:39:38.410> from<00:39:39.410> one<00:39:39.589> surface<00:39:39.799> to<00:39:40.010> another 00:39:40.120 --> 00:39:40.130 align:start position:0% reputation from one surface to another 00:39:40.130 --> 00:39:44.950 align:start position:0% reputation from one surface to another and<00:39:40.809> you<00:39:41.809> know<00:39:41.930> that<00:39:42.349> might<00:39:42.740> be<00:39:43.210> that<00:39:44.210> probably 00:39:44.950 --> 00:39:44.960 align:start position:0% and you know that might be that probably 00:39:44.960 --> 00:39:48.339 align:start position:0% and you know that might be that probably makes<00:39:45.170> sense<00:39:45.289> for<00:39:45.920> for<00:39:46.420> similar<00:39:47.420> services<00:39:47.900> but 00:39:48.339 --> 00:39:48.349 align:start position:0% makes sense for for similar services but 00:39:48.349 --> 00:39:50.890 align:start position:0% makes sense for for similar services but others<00:39:48.680> might<00:39:48.890> be<00:39:49.039> too<00:39:49.250> far<00:39:49.430> away<00:39:49.549> to<00:39:49.720> to<00:39:50.720> move 00:39:50.890 --> 00:39:50.900 align:start position:0% others might be too far away to to move 00:39:50.900 --> 00:39:52.690 align:start position:0% others might be too far away to to move basic<00:39:51.680> as<00:39:51.770> interesting<00:39:52.220> as<00:39:52.309> well<00:39:52.430> if 00:39:52.690 --> 00:39:52.700 align:start position:0% basic as interesting as well if 00:39:52.700 --> 00:39:55.180 align:start position:0% basic as interesting as well if reputation<00:39:53.569> has<00:39:53.779> a<00:39:54.020> value<00:39:54.319> can<00:39:54.710> you<00:39:54.799> buy<00:39:54.980> and 00:39:55.180 --> 00:39:55.190 align:start position:0% reputation has a value can you buy and 00:39:55.190 --> 00:39:58.029 align:start position:0% reputation has a value can you buy and sell<00:39:55.430> reputation<00:39:56.260> your<00:39:57.260> things<00:39:57.500> like<00:39:57.650> that<00:39:57.799> I 00:39:58.029 --> 00:39:58.039 align:start position:0% sell reputation your things like that I 00:39:58.039 --> 00:40:00.910 align:start position:0% sell reputation your things like that I think<00:39:58.460> I<00:39:59.029> like<00:39:59.630> the<00:39:59.750> idea<00:39:59.839> of<00:40:00.109> you<00:40:00.260> having<00:40:00.349> many 00:40:00.910 --> 00:40:00.920 align:start position:0% think I like the idea of you having many 00:40:00.920 --> 00:40:02.620 align:start position:0% think I like the idea of you having many many<00:40:01.130> metrics<00:40:01.549> which<00:40:01.789> will<00:40:01.970> contribute<00:40:02.270> to<00:40:02.599> a 00:40:02.620 --> 00:40:02.630 align:start position:0% many metrics which will contribute to a 00:40:02.630 --> 00:40:04.359 align:start position:0% many metrics which will contribute to a reputation<00:40:03.020> score<00:40:03.410> and<00:40:03.710> depending<00:40:04.039> on<00:40:04.160> the 00:40:04.359 --> 00:40:04.369 align:start position:0% reputation score and depending on the 00:40:04.369 --> 00:40:06.160 align:start position:0% reputation score and depending on the environments<00:40:05.329> or<00:40:05.420> the<00:40:05.510> situation<00:40:06.049> the 00:40:06.160 --> 00:40:06.170 align:start position:0% environments or the situation the 00:40:06.170 --> 00:40:07.960 align:start position:0% environments or the situation the metrics<00:40:06.470> have<00:40:06.589> different<00:40:06.890> weights<00:40:07.039> that 00:40:07.960 --> 00:40:07.970 align:start position:0% metrics have different weights that 00:40:07.970 --> 00:40:11.950 align:start position:0% metrics have different weights that could<00:40:08.569> work<00:40:08.690> pretty<00:40:08.930> well<00:40:09.490> so<00:40:10.490> we<00:40:11.420> talked<00:40:11.869> a 00:40:11.950 --> 00:40:11.960 align:start position:0% could work pretty well so we talked a 00:40:11.960 --> 00:40:14.859 align:start position:0% could work pretty well so we talked a lot<00:40:12.079> yesterday<00:40:12.140> about<00:40:12.650> scalability<00:40:13.809> you<00:40:14.809> know 00:40:14.859 --> 00:40:14.869 align:start position:0% lot yesterday about scalability you know 00:40:14.869 --> 00:40:17.140 align:start position:0% lot yesterday about scalability you know working<00:40:15.380> towards<00:40:15.920> greater<00:40:16.520> transactional 00:40:17.140 --> 00:40:17.150 align:start position:0% working towards greater transactional 00:40:17.150 --> 00:40:20.680 align:start position:0% working towards greater transactional volume<00:40:18.339> that<00:40:19.339> sort<00:40:19.940> of<00:40:20.000> thing<00:40:20.089> talked<00:40:20.539> about 00:40:20.680 --> 00:40:20.690 align:start position:0% volume that sort of thing talked about 00:40:20.690 --> 00:40:22.750 align:start position:0% volume that sort of thing talked about metallics<00:40:21.109> sharding<00:40:22.010> and<00:40:22.250> you<00:40:22.430> know<00:40:22.520> how<00:40:22.730> a 00:40:22.750 --> 00:40:22.760 align:start position:0% metallics sharding and you know how a 00:40:22.760 --> 00:40:24.180 align:start position:0% metallics sharding and you know how a theory<00:40:23.089> was<00:40:23.210> going<00:40:23.329> to<00:40:23.390> grow<00:40:23.630> in<00:40:23.779> the<00:40:23.869> future 00:40:24.180 --> 00:40:24.190 align:start position:0% theory was going to grow in the future 00:40:24.190 --> 00:40:27.039 align:start position:0% theory was going to grow in the future have<00:40:25.190> you<00:40:25.309> guys<00:40:25.430> put<00:40:25.760> thoughts<00:40:26.420> into<00:40:26.630> you<00:40:26.960> know 00:40:27.039 --> 00:40:27.049 align:start position:0% have you guys put thoughts into you know 00:40:27.049 --> 00:40:28.690 align:start position:0% have you guys put thoughts into you know how<00:40:27.289> your<00:40:27.529> services<00:40:27.980> you've<00:40:28.190> created<00:40:28.400> how 00:40:28.690 --> 00:40:28.700 align:start position:0% how your services you've created how 00:40:28.700 --> 00:40:30.160 align:start position:0% how your services you've created how they<00:40:28.880> will<00:40:29.059> change<00:40:29.299> what<00:40:29.720> they<00:40:29.809> will<00:40:29.960> become 00:40:30.160 --> 00:40:30.170 align:start position:0% they will change what they will become 00:40:30.170 --> 00:40:32.829 align:start position:0% they will change what they will become as<00:40:30.670> athyrium<00:40:31.670> begins<00:40:32.299> does<00:40:32.480> that<00:40:32.630> start 00:40:32.829 --> 00:40:32.839 align:start position:0% as athyrium begins does that start 00:40:32.839 --> 00:40:36.460 align:start position:0% as athyrium begins does that start scaling<00:40:33.049> in<00:40:33.260> a<00:40:33.349> big<00:40:33.799> way<00:40:35.109> durante<00:40:36.109> the<00:40:36.200> first 00:40:36.460 --> 00:40:36.470 align:start position:0% scaling in a big way durante the first 00:40:36.470 --> 00:40:40.720 align:start position:0% scaling in a big way durante the first women<00:40:37.369> I<00:40:38.380> think<00:40:39.380> we<00:40:39.500> do<00:40:39.710> was<00:40:40.069> developed<00:40:40.579> in<00:40:40.670> a 00:40:40.720 --> 00:40:40.730 align:start position:0% women I think we do was developed in a 00:40:40.730 --> 00:40:43.900 align:start position:0% women I think we do was developed in a very<00:40:40.970> interesting<00:40:41.210> way<00:40:41.480> it<00:40:42.020> was<00:40:42.319> a<00:40:42.619> oh<00:40:43.039> it<00:40:43.609> was 00:40:43.900 --> 00:40:43.910 align:start position:0% very interesting way it was a oh it was 00:40:43.910 --> 00:40:47.529 align:start position:0% very interesting way it was a oh it was nine<00:40:44.720> POC<00:40:45.260> it<00:40:45.770> was<00:40:45.950> mindful<00:40:46.220> of<00:40:46.549> concept<00:40:47.059> who 00:40:47.529 --> 00:40:47.539 align:start position:0% nine POC it was mindful of concept who 00:40:47.539 --> 00:40:50.769 align:start position:0% nine POC it was mindful of concept who was<00:40:47.720> following<00:40:47.960> so<00:40:48.950> all<00:40:49.549> the<00:40:49.819> ideas<00:40:50.240> and<00:40:50.270> all 00:40:50.769 --> 00:40:50.779 align:start position:0% was following so all the ideas and all 00:40:50.779 --> 00:40:53.529 align:start position:0% was following so all the ideas and all what<00:40:50.960> you<00:40:51.109> see<00:40:51.349> now<00:40:51.559> came<00:40:52.520> out<00:40:52.819> from<00:40:53.150> the<00:40:53.299> field 00:40:53.529 --> 00:40:53.539 align:start position:0% what you see now came out from the field 00:40:53.539 --> 00:40:55.779 align:start position:0% what you see now came out from the field from<00:40:53.660> from<00:40:54.140> going<00:40:54.500> and<00:40:54.710> trying<00:40:54.950> and<00:40:55.220> going 00:40:55.779 --> 00:40:55.789 align:start position:0% from from going and trying and going 00:40:55.789 --> 00:40:56.810 align:start position:0% from from going and trying and going back<00:40:56.029> to<00:40:56.059> the 00:40:56.810 --> 00:40:56.820 align:start position:0% back to the 00:40:56.820 --> 00:40:58.550 align:start position:0% back to the to<00:40:57.150> the<00:40:57.270> blueprints<00:40:57.810> and<00:40:57.930> see<00:40:58.140> how<00:40:58.260> we<00:40:58.320> can 00:40:58.550 --> 00:40:58.560 align:start position:0% to the blueprints and see how we can 00:40:58.560 --> 00:41:01.910 align:start position:0% to the blueprints and see how we can change<00:40:58.740> it<00:40:58.950> so<00:40:59.610> I<00:40:59.940> think<00:41:00.440> this<00:41:01.440> is<00:41:01.650> the<00:41:01.800> best 00:41:01.910 --> 00:41:01.920 align:start position:0% change it so I think this is the best 00:41:01.920 --> 00:41:04.610 align:start position:0% change it so I think this is the best way<00:41:02.130> to<00:41:02.190> do<00:41:02.460> stuff<00:41:02.730> to<00:41:03.570> go<00:41:03.750> and<00:41:03.930> iterate<00:41:04.320> and<00:41:04.350> it 00:41:04.610 --> 00:41:04.620 align:start position:0% way to do stuff to go and iterate and it 00:41:04.620 --> 00:41:07.280 align:start position:0% way to do stuff to go and iterate and it I<00:41:05.100> believe<00:41:05.340> it's<00:41:05.490> not<00:41:05.670> you<00:41:05.910> it's<00:41:06.180> it's<00:41:06.870> already 00:41:07.280 --> 00:41:07.290 align:start position:0% I believe it's not you it's it's already 00:41:07.290 --> 00:41:11.350 align:start position:0% I believe it's not you it's it's already been<00:41:07.590> proven<00:41:08.720> by<00:41:09.720> people<00:41:10.020> doing<00:41:10.320> successful<00:41:10.710> a 00:41:11.350 --> 00:41:11.360 align:start position:0% been proven by people doing successful a 00:41:11.360 --> 00:41:15.410 align:start position:0% been proven by people doing successful a successful<00:41:12.360> startups<00:41:12.810> so<00:41:13.680> I<00:41:14.010> think<00:41:14.610> all<00:41:15.180> these 00:41:15.410 --> 00:41:15.420 align:start position:0% successful startups so I think all these 00:41:15.420 --> 00:41:18.890 align:start position:0% successful startups so I think all these ideas<00:41:15.990> that<00:41:16.430> metallic<00:41:17.430> and<00:41:17.640> blood<00:41:17.910> and<00:41:18.330> Greg 00:41:18.890 --> 00:41:18.900 align:start position:0% ideas that metallic and blood and Greg 00:41:18.900 --> 00:41:22.640 align:start position:0% ideas that metallic and blood and Greg are<00:41:19.140> talking<00:41:19.500> about<00:41:19.740> we<00:41:20.250> need<00:41:21.170> simulations<00:41:22.170> we 00:41:22.640 --> 00:41:22.650 align:start position:0% are talking about we need simulations we 00:41:22.650 --> 00:41:25.250 align:start position:0% are talking about we need simulations we need<00:41:22.890> a<00:41:23.130> linear<00:41:24.120> pull<00:41:24.270> of<00:41:24.420> concepts<00:41:24.960> we<00:41:25.110> need 00:41:25.250 --> 00:41:25.260 align:start position:0% need a linear pull of concepts we need 00:41:25.260 --> 00:41:29.210 align:start position:0% need a linear pull of concepts we need to<00:41:25.410> see<00:41:25.590> how<00:41:25.620> it<00:41:25.920> works<00:41:26.540> and<00:41:27.540> then<00:41:27.600> see<00:41:28.380> if<00:41:28.410> it 00:41:29.210 --> 00:41:29.220 align:start position:0% to see how it works and then see if it 00:41:29.220 --> 00:41:33.290 align:start position:0% to see how it works and then see if it really<00:41:29.400> a<00:41:29.790> proven<00:41:30.600> mathematically<00:41:30.720> so<00:41:32.300> it's 00:41:33.290 --> 00:41:33.300 align:start position:0% really a proven mathematically so it's 00:41:33.300 --> 00:41:36.530 align:start position:0% really a proven mathematically so it's the<00:41:33.570> only<00:41:34.020> way<00:41:34.320> we<00:41:35.070> can<00:41:35.220> really<00:41:35.460> see<00:41:35.760> this<00:41:36.000> this 00:41:36.530 --> 00:41:36.540 align:start position:0% the only way we can really see this this 00:41:36.540 --> 00:41:39.020 align:start position:0% the only way we can really see this this stuff<00:41:36.780> works<00:41:37.080> and<00:41:37.350> can<00:41:37.380> be<00:41:38.100> adopted<00:41:38.340> because 00:41:39.020 --> 00:41:39.030 align:start position:0% stuff works and can be adopted because 00:41:39.030 --> 00:41:42.830 align:start position:0% stuff works and can be adopted because now<00:41:39.690> it<00:41:39.930> works<00:41:40.860> we<00:41:41.160> don't<00:41:41.370> want<00:41:41.640> to<00:41:41.820> harm<00:41:42.660> it 00:41:42.830 --> 00:41:42.840 align:start position:0% now it works we don't want to harm it 00:41:42.840 --> 00:41:45.710 align:start position:0% now it works we don't want to harm it right<00:41:43.080> we<00:41:43.320> want<00:41:43.740> to<00:41:43.860> see<00:41:44.070> how<00:41:44.520> we<00:41:44.580> move<00:41:44.910> from 00:41:45.710 --> 00:41:45.720 align:start position:0% right we want to see how we move from 00:41:45.720 --> 00:41:48.050 align:start position:0% right we want to see how we move from point<00:41:45.990> A<00:41:46.260> from<00:41:46.500> one<00:41:46.710> point<00:41:47.040> to<00:41:47.190> point<00:41:47.370> B<00:41:47.610> safely 00:41:48.050 --> 00:41:48.060 align:start position:0% point A from one point to point B safely 00:41:48.060 --> 00:41:54.830 align:start position:0% point A from one point to point B safely right<00:41:48.270> so<00:41:49.140> maybe<00:41:50.040> this<00:41:50.280> is<00:41:50.430> my<00:41:50.580> master<00:41:53.840> what 00:41:54.830 --> 00:41:54.840 align:start position:0% right so maybe this is my master what 00:41:54.840 --> 00:41:57.680 align:start position:0% right so maybe this is my master what the<00:41:54.960> current<00:41:55.260> gasps<00:41:55.710> limit<00:41:56.100> is<00:41:56.310> a<00:41:56.340> is<00:41:56.880> sort<00:41:57.600> of 00:41:57.680 --> 00:41:57.690 align:start position:0% the current gasps limit is a is sort of 00:41:57.690 --> 00:42:00.320 align:start position:0% the current gasps limit is a is sort of a<00:41:57.810> good<00:41:58.230> metric<00:41:58.620> for<00:41:59.130> where<00:41:59.430> that<00:41:59.670> limit<00:42:00.060> shows 00:42:00.320 --> 00:42:00.330 align:start position:0% a good metric for where that limit shows 00:42:00.330 --> 00:42:04.280 align:start position:0% a good metric for where that limit shows itself<00:42:01.790> it's<00:42:02.790> really<00:42:03.450> easy<00:42:03.690> to<00:42:03.840> write<00:42:04.260> a 00:42:04.280 --> 00:42:04.290 align:start position:0% itself it's really easy to write a 00:42:04.290 --> 00:42:06.560 align:start position:0% itself it's really easy to write a contract<00:42:04.590> that<00:42:05.070> takes<00:42:05.460> up<00:42:05.670> three<00:42:06.000> million<00:42:06.300> gas 00:42:06.560 --> 00:42:06.570 align:start position:0% contract that takes up three million gas 00:42:06.570 --> 00:42:09.860 align:start position:0% contract that takes up three million gas just<00:42:07.080> to<00:42:07.230> deploy<00:42:07.800> it<00:42:08.000> it's<00:42:09.000> a<00:42:09.180> big<00:42:09.330> contract 00:42:09.860 --> 00:42:09.870 align:start position:0% just to deploy it it's a big contract 00:42:09.870 --> 00:42:12.400 align:start position:0% just to deploy it it's a big contract but<00:42:10.140> it's<00:42:10.320> an<00:42:10.530> easy<00:42:10.680> limit<00:42:11.190> to<00:42:11.310> hit<00:42:11.520> and<00:42:11.730> and 00:42:12.400 --> 00:42:12.410 align:start position:0% but it's an easy limit to hit and and 00:42:12.410 --> 00:42:15.200 align:start position:0% but it's an easy limit to hit and and similarly<00:42:13.410> it<00:42:13.890> limits<00:42:14.310> how<00:42:14.490> much<00:42:14.550> you<00:42:14.850> can<00:42:15.030> do 00:42:15.200 --> 00:42:15.210 align:start position:0% similarly it limits how much you can do 00:42:15.210 --> 00:42:19.010 align:start position:0% similarly it limits how much you can do in<00:42:15.240> one<00:42:15.480> step<00:42:15.980> so<00:42:16.980> a<00:42:17.010> lot<00:42:17.220> of<00:42:17.250> those<00:42:18.020> scaling 00:42:19.010 --> 00:42:19.020 align:start position:0% in one step so a lot of those scaling 00:42:19.020 --> 00:42:22.700 align:start position:0% in one step so a lot of those scaling issues<00:42:19.790> are<00:42:20.900> theoretically<00:42:21.900> going<00:42:22.290> to<00:42:22.380> open 00:42:22.700 --> 00:42:22.710 align:start position:0% issues are theoretically going to open 00:42:22.710 --> 00:42:25.520 align:start position:0% issues are theoretically going to open up<00:42:22.980> some<00:42:23.550> you<00:42:23.760> know<00:42:23.880> increase<00:42:24.840> that<00:42:24.870> ceiling 00:42:25.520 --> 00:42:25.530 align:start position:0% up some you know increase that ceiling 00:42:25.530 --> 00:42:28.340 align:start position:0% up some you know increase that ceiling by<00:42:25.740> some<00:42:25.980> amount<00:42:26.220> which<00:42:26.940> will<00:42:27.420> increase<00:42:27.900> the 00:42:28.340 --> 00:42:28.350 align:start position:0% by some amount which will increase the 00:42:28.350 --> 00:42:30.800 align:start position:0% by some amount which will increase the overall<00:42:28.890> ceiling<00:42:29.670> for<00:42:29.880> how<00:42:29.970> big<00:42:30.270> apps<00:42:30.510> can<00:42:30.750> be 00:42:30.800 --> 00:42:30.810 align:start position:0% overall ceiling for how big apps can be 00:42:30.810 --> 00:42:33.790 align:start position:0% overall ceiling for how big apps can be on<00:42:31.140> some<00:42:31.740> level<00:42:32.070> right<00:42:32.250> now<00:42:32.460> there<00:42:32.820> is<00:42:32.940> a 00:42:33.790 --> 00:42:33.800 align:start position:0% on some level right now there is a 00:42:33.800 --> 00:42:36.920 align:start position:0% on some level right now there is a artificial<00:42:34.800> ceiling<00:42:35.550> that<00:42:35.970> you<00:42:36.390> can<00:42:36.630> actually 00:42:36.920 --> 00:42:36.930 align:start position:0% artificial ceiling that you can actually 00:42:36.930 --> 00:42:39.740 align:start position:0% artificial ceiling that you can actually hit<00:42:37.500> pretty<00:42:37.740> easily<00:42:38.010> even<00:42:38.970> when<00:42:39.210> you<00:42:39.420> divide 00:42:39.740 --> 00:42:39.750 align:start position:0% hit pretty easily even when you divide 00:42:39.750 --> 00:42:42.710 align:start position:0% hit pretty easily even when you divide most<00:42:40.110> of<00:42:40.260> your<00:42:40.410> code<00:42:40.620> out<00:42:40.830> into<00:42:41.720> into 00:42:42.710 --> 00:42:42.720 align:start position:0% most of your code out into into 00:42:42.720 --> 00:42:44.150 align:start position:0% most of your code out into into libraries<00:42:43.290> and<00:42:43.530> deploy<00:42:43.770> your<00:42:43.920> code 00:42:44.150 --> 00:42:44.160 align:start position:0% libraries and deploy your code 00:42:44.160 --> 00:42:46.070 align:start position:0% libraries and deploy your code separately<00:42:44.700> and<00:42:44.940> essentially<00:42:45.570> deploy<00:42:46.050> a 00:42:46.070 --> 00:42:46.080 align:start position:0% separately and essentially deploy a 00:42:46.080 --> 00:42:48.350 align:start position:0% separately and essentially deploy a shell<00:42:46.620> contract<00:42:47.190> that<00:42:47.550> calls<00:42:47.790> library 00:42:48.350 --> 00:42:48.360 align:start position:0% shell contract that calls library 00:42:48.360 --> 00:42:50.390 align:start position:0% shell contract that calls library functions<00:42:48.840> you<00:42:49.350> can<00:42:49.380> still<00:42:49.830> hit<00:42:50.010> that<00:42:50.070> pie 00:42:50.390 --> 00:42:50.400 align:start position:0% functions you can still hit that pie 00:42:50.400 --> 00:42:52.100 align:start position:0% functions you can still hit that pie million<00:42:50.760> gas<00:42:50.940> limit<00:42:51.330> pretty<00:42:51.540> quickly<00:42:51.810> so 00:42:52.100 --> 00:42:52.110 align:start position:0% million gas limit pretty quickly so 00:42:52.110 --> 00:42:56.350 align:start position:0% million gas limit pretty quickly so companies<00:42:53.070> and<00:42:53.570> entities<00:42:54.570> who<00:42:54.750> are<00:42:54.780> building 00:42:56.350 --> 00:42:56.360 align:start position:0% companies and entities who are building 00:42:56.360 --> 00:42:59.090 align:start position:0% companies and entities who are building middle<00:42:57.360> you<00:42:57.990> know<00:42:58.110> they're<00:42:58.230> not<00:42:58.260> that<00:42:58.590> complex 00:42:59.090 --> 00:42:59.100 align:start position:0% middle you know they're not that complex 00:42:59.100 --> 00:43:01.040 align:start position:0% middle you know they're not that complex but<00:42:59.640> they're<00:42:59.820> complex<00:43:00.240> in<00:43:00.480> terms<00:43:00.510> of<00:43:00.870> the 00:43:01.040 --> 00:43:01.050 align:start position:0% but they're complex in terms of the 00:43:01.050 --> 00:43:02.840 align:start position:0% but they're complex in terms of the example<00:43:01.500> contracts<00:43:01.980> that<00:43:02.220> we<00:43:02.340> see<00:43:02.550> all<00:43:02.790> the 00:43:02.840 --> 00:43:02.850 align:start position:0% example contracts that we see all the 00:43:02.850 --> 00:43:05.210 align:start position:0% example contracts that we see all the time<00:43:03.030> and<00:43:03.450> that<00:43:03.960> sort<00:43:04.200> of<00:43:04.230> thing<00:43:04.290> so<00:43:04.890> it's<00:43:05.040> very 00:43:05.210 --> 00:43:05.220 align:start position:0% time and that sort of thing so it's very 00:43:05.220 --> 00:43:07.670 align:start position:0% time and that sort of thing so it's very easy<00:43:05.340> to<00:43:05.730> find<00:43:06.570> your<00:43:06.840> way<00:43:06.960> to<00:43:07.020> that<00:43:07.170> pie 00:43:07.670 --> 00:43:07.680 align:start position:0% easy to find your way to that pie 00:43:07.680 --> 00:43:08.070 align:start position:0% easy to find your way to that pie million 00:43:08.070 --> 00:43:08.080 align:start position:0% million 00:43:08.080 --> 00:43:10.260 align:start position:0% million gasps<00:43:08.260> limit<00:43:08.620> right<00:43:08.770> now<00:43:08.800> and<00:43:09.370> that's<00:43:09.550> one<00:43:10.240> of 00:43:10.260 --> 00:43:10.270 align:start position:0% gasps limit right now and that's one of 00:43:10.270 --> 00:43:12.420 align:start position:0% gasps limit right now and that's one of the<00:43:10.450> ways<00:43:10.570> that<00:43:10.900> the<00:43:11.140> scaling<00:43:11.800> problem<00:43:12.190> shows 00:43:12.420 --> 00:43:12.430 align:start position:0% the ways that the scaling problem shows 00:43:12.430 --> 00:43:16.220 align:start position:0% the ways that the scaling problem shows itself<00:43:12.790> I<00:43:13.060> think<00:43:13.840> I<00:43:14.230> think<00:43:14.800> that<00:43:14.980> right<00:43:15.160> now 00:43:16.220 --> 00:43:16.230 align:start position:0% itself I think I think that right now 00:43:16.230 --> 00:43:18.090 align:start position:0% itself I think I think that right now there's<00:43:17.230> not<00:43:17.410> really<00:43:17.620> any<00:43:17.860> way<00:43:17.950> to 00:43:18.090 --> 00:43:18.100 align:start position:0% there's not really any way to 00:43:18.100 --> 00:43:20.070 align:start position:0% there's not really any way to deliberately<00:43:18.640> make<00:43:18.910> your<00:43:19.090> contracts<00:43:19.570> future 00:43:20.070 --> 00:43:20.080 align:start position:0% deliberately make your contracts future 00:43:20.080 --> 00:43:22.080 align:start position:0% deliberately make your contracts future proof<00:43:20.260> against<00:43:20.680> like<00:43:21.010> design<00:43:21.640> decisions 00:43:22.080 --> 00:43:22.090 align:start position:0% proof against like design decisions 00:43:22.090 --> 00:43:24.030 align:start position:0% proof against like design decisions related<00:43:22.540> to<00:43:22.660> scaling<00:43:22.930> so<00:43:23.710> they're<00:43:23.920> either 00:43:24.030 --> 00:43:24.040 align:start position:0% related to scaling so they're either 00:43:24.040 --> 00:43:25.320 align:start position:0% related to scaling so they're either going<00:43:24.220> to<00:43:24.280> do<00:43:24.430> it<00:43:24.550> in<00:43:24.820> a<00:43:24.910> way<00:43:25.030> where<00:43:25.180> it's 00:43:25.320 --> 00:43:25.330 align:start position:0% going to do it in a way where it's 00:43:25.330 --> 00:43:26.850 align:start position:0% going to do it in a way where it's perfectly<00:43:25.660> seamless<00:43:25.900> and<00:43:26.260> the<00:43:26.530> sharding 00:43:26.850 --> 00:43:26.860 align:start position:0% perfectly seamless and the sharding 00:43:26.860 --> 00:43:28.830 align:start position:0% perfectly seamless and the sharding works<00:43:27.010> really<00:43:27.250> well<00:43:27.370> and<00:43:27.730> all<00:43:28.390> your<00:43:28.540> current 00:43:28.830 --> 00:43:28.840 align:start position:0% works really well and all your current 00:43:28.840 --> 00:43:29.910 align:start position:0% works really well and all your current contracts<00:43:29.260> can<00:43:29.440> keep<00:43:29.590> running<00:43:29.770> with<00:43:29.860> no 00:43:29.910 --> 00:43:29.920 align:start position:0% contracts can keep running with no 00:43:29.920 --> 00:43:31.560 align:start position:0% contracts can keep running with no problem<00:43:30.250> in<00:43:30.370> which<00:43:30.460> case<00:43:30.700> no<00:43:31.000> one<00:43:31.030> is<00:43:31.210> affected 00:43:31.560 --> 00:43:31.570 align:start position:0% problem in which case no one is affected 00:43:31.570 --> 00:43:34.440 align:start position:0% problem in which case no one is affected or<00:43:31.960> it<00:43:32.440> looks<00:43:32.620> sort<00:43:33.040> of<00:43:33.130> more<00:43:33.190> like<00:43:33.430> a<00:43:33.640> you<00:43:34.420> know 00:43:34.440 --> 00:43:34.450 align:start position:0% or it looks sort of more like a you know 00:43:34.450 --> 00:43:36.390 align:start position:0% or it looks sort of more like a you know main<00:43:34.750> chain<00:43:35.020> side<00:43:35.290> chain<00:43:35.620> type<00:43:35.890> deal<00:43:36.100> email 00:43:36.390 --> 00:43:36.400 align:start position:0% main chain side chain type deal email 00:43:36.400 --> 00:43:38.610 align:start position:0% main chain side chain type deal email you<00:43:36.490> have<00:43:36.610> shards<00:43:37.000> in<00:43:37.750> which<00:43:37.930> case<00:43:38.170> you<00:43:38.500> better 00:43:38.610 --> 00:43:38.620 align:start position:0% you have shards in which case you better 00:43:38.620 --> 00:43:40.830 align:start position:0% you have shards in which case you better hope<00:43:38.920> your<00:43:39.100> profit<00:43:39.910> per<00:43:40.060> transaction<00:43:40.300> is<00:43:40.690> very 00:43:40.830 --> 00:43:40.840 align:start position:0% hope your profit per transaction is very 00:43:40.840 --> 00:43:42.090 align:start position:0% hope your profit per transaction is very high<00:43:41.020> or<00:43:41.200> else<00:43:41.350> you're<00:43:41.530> going<00:43:41.620> to<00:43:41.680> be<00:43:41.800> squeezed 00:43:42.090 --> 00:43:42.100 align:start position:0% high or else you're going to be squeezed 00:43:42.100 --> 00:43:44.510 align:start position:0% high or else you're going to be squeezed out<00:43:42.220> I<00:43:42.780> think<00:43:43.780> the<00:43:43.840> biggest<00:43:44.020> risk<00:43:44.290> there<00:43:44.470> is 00:43:44.510 --> 00:43:44.520 align:start position:0% out I think the biggest risk there is 00:43:44.520 --> 00:43:46.890 align:start position:0% out I think the biggest risk there is data<00:43:45.520> feeds<00:43:45.790> like<00:43:46.210> how<00:43:46.420> are<00:43:46.510> we<00:43:46.570> going<00:43:46.660> to<00:43:46.750> pay 00:43:46.890 --> 00:43:46.900 align:start position:0% data feeds like how are we going to pay 00:43:46.900 --> 00:43:48.480 align:start position:0% data feeds like how are we going to pay to<00:43:46.960> get<00:43:47.230> continuous<00:43:47.710> data<00:43:47.920> onto<00:43:48.280> the<00:43:48.370> block 00:43:48.480 --> 00:43:48.490 align:start position:0% to get continuous data onto the block 00:43:48.490 --> 00:43:50.430 align:start position:0% to get continuous data onto the block Shane<00:43:48.790> once<00:43:49.300> the<00:43:49.510> cost<00:43:49.690> per<00:43:49.840> transaction<00:43:50.020> is 00:43:50.430 --> 00:43:50.440 align:start position:0% Shane once the cost per transaction is 00:43:50.440 --> 00:44:00.360 align:start position:0% Shane once the cost per transaction is really<00:43:50.680> high<00:43:57.120> because<00:43:58.650> rabbit<00:43:59.650> the<00:43:59.950> prices 00:44:00.360 --> 00:44:00.370 align:start position:0% really high because rabbit the prices 00:44:00.370 --> 00:44:03.420 align:start position:0% really high because rabbit the prices and<00:44:00.670> entertaining<00:44:01.630> so<00:44:02.440> it<00:44:02.560> really<00:44:02.800> sort<00:44:03.160> of 00:44:03.420 --> 00:44:03.430 align:start position:0% and entertaining so it really sort of 00:44:03.430 --> 00:44:05.580 align:start position:0% and entertaining so it really sort of estimation<00:44:04.030> I<00:44:04.420> don't<00:44:04.870> remember<00:44:04.990> father<00:44:05.350> it's 00:44:05.580 --> 00:44:05.590 align:start position:0% estimation I don't remember father it's 00:44:05.590 --> 00:44:10.020 align:start position:0% estimation I don't remember father it's a<00:44:05.740> sound<00:44:06.220> 15<00:44:07.110> assets<00:44:08.110> there<00:44:08.550> if<00:44:09.550> i<00:44:09.700> remember 00:44:10.020 --> 00:44:10.030 align:start position:0% a sound 15 assets there if i remember 00:44:10.030 --> 00:44:12.900 align:start position:0% a sound 15 assets there if i remember correct<00:44:11.020> this<00:44:11.560> do<00:44:11.740> the<00:44:11.860> sort<00:44:12.280> of<00:44:12.460> estimation 00:44:12.900 --> 00:44:12.910 align:start position:0% correct this do the sort of estimation 00:44:12.910 --> 00:44:16.260 align:start position:0% correct this do the sort of estimation now<00:44:13.270> how<00:44:14.020> how<00:44:14.380> much<00:44:14.590> does<00:44:14.740> it<00:44:14.800> cost<00:44:14.920> I<00:44:15.280> we<00:44:15.760> okay 00:44:16.260 --> 00:44:16.270 align:start position:0% now how how much does it cost I we okay 00:44:16.270 --> 00:44:18.210 align:start position:0% now how how much does it cost I we okay with<00:44:16.300> this<00:44:16.570> like<00:44:16.810> we<00:44:17.020> can<00:44:17.230> we<00:44:17.650> can<00:44:17.830> hold<00:44:18.040> it<00:44:18.190> for 00:44:18.210 --> 00:44:18.220 align:start position:0% with this like we can we can hold it for 00:44:18.220 --> 00:44:21.360 align:start position:0% with this like we can we can hold it for for<00:44:18.640> some<00:44:18.820> time<00:44:19.060> until<00:44:20.020> we<00:44:20.410> have<00:44:20.590> mechanism<00:44:21.340> to 00:44:21.360 --> 00:44:21.370 align:start position:0% for some time until we have mechanism to 00:44:21.370 --> 00:44:24.300 align:start position:0% for some time until we have mechanism to decide<00:44:21.820> about<00:44:22.030> the<00:44:22.330> block<00:44:22.680> block<00:44:23.680> size<00:44:23.950> of<00:44:24.190> the 00:44:24.300 --> 00:44:24.310 align:start position:0% decide about the block block size of the 00:44:24.310 --> 00:44:27.180 align:start position:0% decide about the block block size of the gate<00:44:24.550> can<00:44:24.970> forget<00:44:25.330> nobody<00:44:25.990> trying<00:44:26.290> to<00:44:26.950> change 00:44:27.180 --> 00:44:27.190 align:start position:0% gate can forget nobody trying to change 00:44:27.190 --> 00:44:30.330 align:start position:0% gate can forget nobody trying to change this<00:44:27.430> right<00:44:28.090> we<00:44:28.510> can<00:44:28.690> learn<00:44:28.840> it's<00:44:29.650> a<00:44:29.740> minus<00:44:30.160> a 00:44:30.330 --> 00:44:30.340 align:start position:0% this right we can learn it's a minus a 00:44:30.340 --> 00:44:33.150 align:start position:0% this right we can learn it's a minus a vote<00:44:31.090> to<00:44:31.510> increase<00:44:31.750> or<00:44:32.170> decrease<00:44:32.380> this<00:44:32.920> the 00:44:33.150 --> 00:44:33.160 align:start position:0% vote to increase or decrease this the 00:44:33.160 --> 00:44:35.460 align:start position:0% vote to increase or decrease this the swimming<00:44:33.550> and<00:44:33.640> I<00:44:33.970> do<00:44:34.030> agree<00:44:34.330> i<00:44:34.600> could<00:44:35.290> use 00:44:35.460 --> 00:44:35.470 align:start position:0% swimming and I do agree i could use 00:44:35.470 --> 00:44:40.170 align:start position:0% swimming and I do agree i could use bigger<00:44:35.770> larger<00:44:36.550> a<00:44:37.290> gas<00:44:38.290> limiter<00:44:38.800> block<00:44:39.070> we<00:44:39.310> we 00:44:40.170 --> 00:44:40.180 align:start position:0% bigger larger a gas limiter block we we 00:44:40.180 --> 00:44:42.450 align:start position:0% bigger larger a gas limiter block we we want<00:44:40.630> heated<00:44:41.020> this<00:44:41.230> limit<00:44:41.560> but<00:44:41.830> with<00:44:42.130> some<00:44:42.340> of 00:44:42.450 --> 00:44:42.460 align:start position:0% want heated this limit but with some of 00:44:42.460 --> 00:44:45.450 align:start position:0% want heated this limit but with some of halton<00:44:42.850> bugs<00:44:43.090> and<00:44:43.330> did<00:44:43.870> some<00:44:44.140> instruction<00:44:44.770> so 00:44:45.450 --> 00:44:45.460 align:start position:0% halton bugs and did some instruction so 00:44:45.460 --> 00:44:48.360 align:start position:0% halton bugs and did some instruction so if<00:44:46.060> this<00:44:46.300> is<00:44:46.510> kind<00:44:46.840> of<00:44:46.960> issue<00:44:47.260> let's<00:44:48.130> do<00:44:48.310> it 00:44:48.360 --> 00:44:48.370 align:start position:0% if this is kind of issue let's do it 00:44:48.370 --> 00:44:50.700 align:start position:0% if this is kind of issue let's do it let's<00:44:48.850> lot<00:44:49.090> of<00:44:49.270> these<00:44:49.450> like<00:44:49.720> people<00:44:50.320> who<00:44:50.470> who 00:44:50.700 --> 00:44:50.710 align:start position:0% let's lot of these like people who who 00:44:50.710 --> 00:44:53.940 align:start position:0% let's lot of these like people who who has<00:44:50.920> miners<00:44:51.570> who<00:44:52.570> mine<00:44:53.020> stuff<00:44:53.410> maybe<00:44:53.680> we 00:44:53.940 --> 00:44:53.950 align:start position:0% has miners who mine stuff maybe we 00:44:53.950 --> 00:44:56.070 align:start position:0% has miners who mine stuff maybe we should<00:44:54.190> a<00:44:54.400> token<00:44:55.150> can<00:44:55.270> talk<00:44:55.450> about<00:44:55.570> this<00:44:55.870> and 00:44:56.070 --> 00:44:56.080 align:start position:0% should a token can talk about this and 00:44:56.080 --> 00:44:58.740 align:start position:0% should a token can talk about this and and<00:44:56.290> see<00:44:56.860> and<00:44:57.340> try<00:44:57.550> to<00:44:57.610> see<00:44:57.940> if<00:44:58.120> this<00:44:58.270> mechanism 00:44:58.740 --> 00:44:58.750 align:start position:0% and see and try to see if this mechanism 00:44:58.750 --> 00:45:01.050 align:start position:0% and see and try to see if this mechanism really<00:44:59.020> works<00:44:59.230> because<00:45:00.040> it's<00:45:00.220> built<00:45:00.460> into<00:45:00.850> the 00:45:01.050 --> 00:45:01.060 align:start position:0% really works because it's built into the 00:45:01.060 --> 00:45:04.970 align:start position:0% really works because it's built into the system<00:45:03.150> Jesus 00:45:04.970 --> 00:45:04.980 align:start position:0% system Jesus 00:45:04.980 --> 00:45:08.030 align:start position:0% system Jesus and<00:45:05.340> another<00:45:05.790> point<00:45:06.180> about<00:45:06.560> yeah<00:45:07.560> the<00:45:07.680> scaling 00:45:08.030 --> 00:45:08.040 align:start position:0% and another point about yeah the scaling 00:45:08.040 --> 00:45:11.210 align:start position:0% and another point about yeah the scaling issues<00:45:08.160> really<00:45:08.609> yeah<00:45:09.270> upgradability<00:45:10.170> and<00:45:10.530> of 00:45:11.210 --> 00:45:11.220 align:start position:0% issues really yeah upgradability and of 00:45:11.220 --> 00:45:14.800 align:start position:0% issues really yeah upgradability and of contracts<00:45:12.170> so<00:45:13.170> again<00:45:13.619> since<00:45:13.920> these<00:45:14.130> are<00:45:14.190> fully 00:45:14.800 --> 00:45:14.810 align:start position:0% contracts so again since these are fully 00:45:14.810 --> 00:45:18.349 align:start position:0% contracts so again since these are fully decentralized<00:45:16.670> once<00:45:17.670> we've<00:45:17.880> deployed<00:45:18.180> it 00:45:18.349 --> 00:45:18.359 align:start position:0% decentralized once we've deployed it 00:45:18.359 --> 00:45:21.109 align:start position:0% decentralized once we've deployed it even<00:45:18.630> we<00:45:19.050> don't<00:45:19.530> have<00:45:19.740> the<00:45:20.730> original 00:45:21.109 --> 00:45:21.119 align:start position:0% even we don't have the original 00:45:21.119 --> 00:45:23.300 align:start position:0% even we don't have the original developers<00:45:21.570> don't<00:45:21.720> even<00:45:22.020> have<00:45:22.140> an<00:45:22.350> ability<00:45:23.070> to 00:45:23.300 --> 00:45:23.310 align:start position:0% developers don't even have an ability to 00:45:23.310 --> 00:45:26.710 align:start position:0% developers don't even have an ability to change<00:45:23.640> it<00:45:23.880> so<00:45:24.090> if<00:45:24.840> there<00:45:25.080> are<00:45:25.200> issues<00:45:25.400> we 00:45:26.710 --> 00:45:26.720 align:start position:0% change it so if there are issues we 00:45:26.720 --> 00:45:29.420 align:start position:0% change it so if there are issues we really<00:45:27.720> have<00:45:27.840> to<00:45:27.869> design<00:45:28.800> it<00:45:28.950> in<00:45:29.040> certain<00:45:29.280> ways 00:45:29.420 --> 00:45:29.430 align:start position:0% really have to design it in certain ways 00:45:29.430 --> 00:45:32.840 align:start position:0% really have to design it in certain ways so<00:45:30.270> that<00:45:30.300> we<00:45:30.600> can<00:45:30.810> have<00:45:31.109> a<00:45:31.920> new<00:45:32.130> contract<00:45:32.550> that 00:45:32.840 --> 00:45:32.850 align:start position:0% so that we can have a new contract that 00:45:32.850 --> 00:45:35.750 align:start position:0% so that we can have a new contract that will<00:45:33.030> still<00:45:33.750> implement<00:45:34.200> what<00:45:34.350> we<00:45:34.530> want<00:45:34.770> but 00:45:35.750 --> 00:45:35.760 align:start position:0% will still implement what we want but 00:45:35.760 --> 00:45:38.030 align:start position:0% will still implement what we want but there's<00:45:35.970> a<00:45:36.030> lot<00:45:36.270> of<00:45:36.300> challenges<00:45:37.260> with<00:45:37.859> this 00:45:38.030 --> 00:45:38.040 align:start position:0% there's a lot of challenges with this 00:45:38.040 --> 00:45:41.030 align:start position:0% there's a lot of challenges with this future<00:45:38.640> proofing<00:45:39.090> and<00:45:39.560> upgrade<00:45:40.560> ability<00:45:40.950> of 00:45:41.030 --> 00:45:41.040 align:start position:0% future proofing and upgrade ability of 00:45:41.040 --> 00:45:43.520 align:start position:0% future proofing and upgrade ability of contracts<00:45:41.760> one<00:45:42.510> of<00:45:42.600> the<00:45:42.660> best<00:45:42.840> practices<00:45:43.020> we 00:45:43.520 --> 00:45:43.530 align:start position:0% contracts one of the best practices we 00:45:43.530 --> 00:45:44.990 align:start position:0% contracts one of the best practices we heard<00:45:43.680> in<00:45:43.859> the<00:45:43.890> morning<00:45:44.460> earlier<00:45:44.760> was 00:45:44.990 --> 00:45:45.000 align:start position:0% heard in the morning earlier was 00:45:45.000 --> 00:45:47.900 align:start position:0% heard in the morning earlier was exposing<00:45:45.570> your<00:45:45.869> data<00:45:46.400> so<00:45:47.400> that<00:45:47.430> you<00:45:47.700> could 00:45:47.900 --> 00:45:47.910 align:start position:0% exposing your data so that you could 00:45:47.910 --> 00:45:50.210 align:start position:0% exposing your data so that you could definitely<00:45:48.180> have<00:45:48.869> contracts<00:45:49.530> that<00:45:49.740> you<00:45:50.040> can 00:45:50.210 --> 00:45:50.220 align:start position:0% definitely have contracts that you can 00:45:50.220 --> 00:45:52.970 align:start position:0% definitely have contracts that you can create<00:45:50.550> and<00:45:51.180> in<00:45:52.080> a<00:45:52.140> way<00:45:52.260> provide<00:45:52.560> an<00:45:52.680> upgrade 00:45:52.970 --> 00:45:52.980 align:start position:0% create and in a way provide an upgrade 00:45:52.980 --> 00:45:54.650 align:start position:0% create and in a way provide an upgrade for<00:45:53.160> that<00:45:53.310> and<00:45:53.520> definitely<00:45:53.910> I<00:45:54.210> think<00:45:54.270> for 00:45:54.650 --> 00:45:54.660 align:start position:0% for that and definitely I think for 00:45:54.660 --> 00:45:57.349 align:start position:0% for that and definitely I think for something<00:45:54.960> like<00:45:55.080> an<00:45:55.230> alarm<00:45:55.560> clock<00:45:56.060> that<00:45:57.060> could 00:45:57.349 --> 00:45:57.359 align:start position:0% something like an alarm clock that could 00:45:57.359 --> 00:46:01.580 align:start position:0% something like an alarm clock that could work<00:45:57.780> very<00:45:58.109> well<00:45:59.000> with<00:46:00.000> the<00:46:00.380> relay<00:46:01.380> that<00:46:01.530> I 00:46:01.580 --> 00:46:01.590 align:start position:0% work very well with the relay that I 00:46:01.590 --> 00:46:04.790 align:start position:0% work very well with the relay that I I've<00:46:02.310> been<00:46:02.490> building<00:46:02.730> it's<00:46:03.530> less<00:46:04.530> clear 00:46:04.790 --> 00:46:04.800 align:start position:0% I've been building it's less clear 00:46:04.800 --> 00:46:07.760 align:start position:0% I've been building it's less clear because<00:46:05.130> the<00:46:05.430> data<00:46:05.609> itself<00:46:05.850> is<00:46:06.440> what<00:46:07.440> you<00:46:07.590> can 00:46:07.760 --> 00:46:07.770 align:start position:0% because the data itself is what you can 00:46:07.770 --> 00:46:10.940 align:start position:0% because the data itself is what you can charge<00:46:08.040> people<00:46:08.520> for<00:46:09.090> and<00:46:09.619> you<00:46:10.619> know<00:46:10.800> way<00:46:10.890> you 00:46:10.940 --> 00:46:10.950 align:start position:0% charge people for and you know way you 00:46:10.950 --> 00:46:12.560 align:start position:0% charge people for and you know way you need<00:46:11.130> to<00:46:11.250> charge<00:46:11.490> people<00:46:11.520> something<00:46:12.270> so<00:46:12.450> that 00:46:12.560 --> 00:46:12.570 align:start position:0% need to charge people something so that 00:46:12.570 --> 00:46:14.750 align:start position:0% need to charge people something so that you<00:46:12.690> can<00:46:12.840> give<00:46:13.530> the<00:46:13.680> community<00:46:13.859> some<00:46:14.310> reward 00:46:14.750 --> 00:46:14.760 align:start position:0% you can give the community some reward 00:46:14.760 --> 00:46:18.550 align:start position:0% you can give the community some reward for<00:46:15.420> helping<00:46:15.540> the<00:46:15.810> service<00:46:16.400> so 00:46:18.550 --> 00:46:18.560 align:start position:0% for helping the service so 00:46:18.560 --> 00:46:20.359 align:start position:0% for helping the service so upgradeability<00:46:19.560> and<00:46:19.680> future<00:46:19.980> proofing<00:46:20.250> is 00:46:20.359 --> 00:46:20.369 align:start position:0% upgradeability and future proofing is 00:46:20.369 --> 00:46:23.660 align:start position:0% upgradeability and future proofing is quite<00:46:20.700> hard<00:46:20.990> does<00:46:21.990> anyone<00:46:22.430> have<00:46:23.430> any<00:46:23.580> other 00:46:23.660 --> 00:46:23.670 align:start position:0% quite hard does anyone have any other 00:46:23.670 --> 00:46:26.300 align:start position:0% quite hard does anyone have any other ideas<00:46:24.060> about<00:46:24.180> it<00:46:24.470> so<00:46:25.470> i<00:46:25.740> think<00:46:25.859> it's<00:46:26.070> it's 00:46:26.300 --> 00:46:26.310 align:start position:0% ideas about it so i think it's it's 00:46:26.310 --> 00:46:29.750 align:start position:0% ideas about it so i think it's it's important<00:46:27.030> to<00:46:27.240> remember<00:46:28.080> that<00:46:28.760> athyrium 00:46:29.750 --> 00:46:29.760 align:start position:0% important to remember that athyrium 00:46:29.760 --> 00:46:33.500 align:start position:0% important to remember that athyrium right<00:46:30.060> now<00:46:30.390> is<00:46:30.720> is<00:46:31.020> very<00:46:31.619> very<00:46:32.430> small<00:46:32.760> I<00:46:33.090> mean 00:46:33.500 --> 00:46:33.510 align:start position:0% right now is is very very small I mean 00:46:33.510 --> 00:46:36.590 align:start position:0% right now is is very very small I mean Roman<00:46:34.260> hunt<00:46:34.470> you<00:46:34.740> have<00:46:34.950> the<00:46:35.100> statistics<00:46:35.600> where 00:46:36.590 --> 00:46:36.600 align:start position:0% Roman hunt you have the statistics where 00:46:36.600 --> 00:46:40.280 align:start position:0% Roman hunt you have the statistics where it's<00:46:36.840> like<00:46:37.700> 3,500<00:46:38.700> contracts<00:46:39.630> right<00:46:39.810> now<00:46:40.020> and 00:46:40.280 --> 00:46:40.290 align:start position:0% it's like 3,500 contracts right now and 00:46:40.290 --> 00:46:42.440 align:start position:0% it's like 3,500 contracts right now and so<00:46:40.920> when<00:46:41.340> I<00:46:41.369> when<00:46:41.700> I<00:46:41.730> think<00:46:42.030> about<00:46:42.090> something 00:46:42.440 --> 00:46:42.450 align:start position:0% so when I when I think about something 00:46:42.450 --> 00:46:45.080 align:start position:0% so when I when I think about something like<00:46:42.570> digital<00:46:43.050> identity<00:46:43.590> you<00:46:44.400> know<00:46:44.520> if<00:46:44.670> we 00:46:45.080 --> 00:46:45.090 align:start position:0% like digital identity you know if we 00:46:45.090 --> 00:46:48.020 align:start position:0% like digital identity you know if we want<00:46:45.300> to<00:46:45.450> create<00:46:46.050> digital<00:46:46.530> identities<00:46:47.250> for<00:46:47.580> 4 00:46:48.020 --> 00:46:48.030 align:start position:0% want to create digital identities for 4 00:46:48.030 --> 00:46:50.720 align:start position:0% want to create digital identities for 4 billion<00:46:48.840> people<00:46:49.109> which<00:46:49.500> is<00:46:49.530> what<00:46:50.280> facebook 00:46:50.720 --> 00:46:50.730 align:start position:0% billion people which is what facebook 00:46:50.730 --> 00:46:54.520 align:start position:0% billion people which is what facebook has<00:46:50.910> right<00:46:51.150> now<00:46:51.200> you<00:46:52.200> know<00:46:52.350> that<00:46:52.910> amount<00:46:53.910> of 00:46:54.520 --> 00:46:54.530 align:start position:0% has right now you know that amount of 00:46:54.530 --> 00:46:58.580 align:start position:0% has right now you know that amount of you<00:46:55.530> know<00:46:55.730> data<00:46:56.730> on<00:46:57.240> the<00:46:57.780> blockchain<00:46:57.990> and 00:46:58.580 --> 00:46:58.590 align:start position:0% you know data on the blockchain and 00:46:58.590 --> 00:47:01.190 align:start position:0% you know data on the blockchain and having<00:46:59.280> them<00:46:59.430> all<00:46:59.790> some<00:47:00.480> transactions 00:47:01.190 --> 00:47:01.200 align:start position:0% having them all some transactions 00:47:01.200 --> 00:47:03.800 align:start position:0% having them all some transactions between<00:47:01.470> each<00:47:01.740> other<00:47:01.950> it's<00:47:02.460> it's<00:47:02.820> just<00:47:03.030> you 00:47:03.800 --> 00:47:03.810 align:start position:0% between each other it's it's just you 00:47:03.810 --> 00:47:09.130 align:start position:0% between each other it's it's just you know<00:47:04.790> it's<00:47:05.790> totally<00:47:06.660> unfeasible<00:47:07.670> without<00:47:08.670> the 00:47:09.130 --> 00:47:09.140 align:start position:0% know it's totally unfeasible without the 00:47:09.140 --> 00:47:14.750 align:start position:0% know it's totally unfeasible without the scalability<00:47:10.140> so<00:47:10.859> I<00:47:11.340> think<00:47:11.720> you<00:47:12.720> know<00:47:12.750> we<00:47:13.760> we 00:47:14.750 --> 00:47:14.760 align:start position:0% scalability so I think you know we we 00:47:14.760 --> 00:47:16.640 align:start position:0% scalability so I think you know we we should<00:47:14.790> keep<00:47:15.119> this<00:47:15.180> in<00:47:15.510> mind 00:47:16.640 --> 00:47:16.650 align:start position:0% should keep this in mind 00:47:16.650 --> 00:47:22.549 align:start position:0% should keep this in mind but<00:47:17.250> at<00:47:17.400> the<00:47:17.549> same<00:47:17.760> time<00:47:18.059> you<00:47:18.779> know<00:47:21.559> design 00:47:22.549 --> 00:47:22.559 align:start position:0% but at the same time you know design 00:47:22.559 --> 00:47:24.859 align:start position:0% but at the same time you know design things<00:47:22.890> that<00:47:23.309> work<00:47:23.819> in<00:47:24.119> the<00:47:24.450> in<00:47:24.809> the 00:47:24.859 --> 00:47:24.869 align:start position:0% things that work in the in the 00:47:24.869 --> 00:47:29.329 align:start position:0% things that work in the in the small-scale<00:47:25.470> to<00:47:26.460> begin<00:47:26.700> with<00:47:26.849> and<00:47:28.099> but<00:47:29.099> still 00:47:29.329 --> 00:47:29.339 align:start position:0% small-scale to begin with and but still 00:47:29.339 --> 00:47:32.150 align:start position:0% small-scale to begin with and but still have<00:47:29.819> an<00:47:29.940> eye<00:47:30.029> towards<00:47:30.599> that<00:47:30.990> you<00:47:31.680> know<00:47:31.799> that 00:47:32.150 --> 00:47:32.160 align:start position:0% have an eye towards that you know that 00:47:32.160 --> 00:47:35.450 align:start position:0% have an eye towards that you know that this<00:47:32.339> is<00:47:32.520> going<00:47:32.670> to<00:47:32.760> have<00:47:32.849> to<00:47:33.000> scale<00:47:33.410> sure<00:47:34.430> so<00:47:35.430> I 00:47:35.450 --> 00:47:35.460 align:start position:0% this is going to have to scale sure so I 00:47:35.460 --> 00:47:37.309 align:start position:0% this is going to have to scale sure so I think<00:47:35.579> we're<00:47:35.819> running<00:47:36.089> out<00:47:36.270> of<00:47:36.299> time<00:47:36.390> it's 00:47:37.309 --> 00:47:37.319 align:start position:0% think we're running out of time it's 00:47:37.319 --> 00:47:38.900 align:start position:0% think we're running out of time it's always<00:47:37.470> to<00:47:37.859> finish<00:47:38.160> studying<00:47:38.430> maybe<00:47:38.579> one<00:47:38.789> more 00:47:38.900 --> 00:47:38.910 align:start position:0% always to finish studying maybe one more 00:47:38.910 --> 00:47:40.339 align:start position:0% always to finish studying maybe one more question<00:47:38.970> with<00:47:39.510> an<00:47:39.599> answer<00:47:39.660> each<00:47:40.020> and<00:47:40.200> then 00:47:40.339 --> 00:47:40.349 align:start position:0% question with an answer each and then 00:47:40.349 --> 00:47:41.569 align:start position:0% question with an answer each and then maybe<00:47:40.529> take<00:47:40.740> some<00:47:40.950> questions<00:47:41.039> from<00:47:41.339> the 00:47:41.569 --> 00:47:41.579 align:start position:0% maybe take some questions from the 00:47:41.579 --> 00:47:47.480 align:start position:0% maybe take some questions from the audience<00:47:42.170> so<00:47:43.170> the<00:47:43.289> final<00:47:43.440> one<00:47:43.740> was<00:47:46.339> you<00:47:47.339> have 00:47:47.480 --> 00:47:47.490 align:start position:0% audience so the final one was you have 00:47:47.490 --> 00:47:49.460 align:start position:0% audience so the final one was you have things<00:47:47.819> like<00:47:47.910> oracle<00:47:48.420> eyes<00:47:48.539> which<00:47:48.839> allow<00:47:49.410> the 00:47:49.460 --> 00:47:49.470 align:start position:0% things like oracle eyes which allow the 00:47:49.470 --> 00:47:51.349 align:start position:0% things like oracle eyes which allow the ethereum<00:47:50.039> blockchain<00:47:50.130> to<00:47:50.609> effectively<00:47:51.029> talk 00:47:51.349 --> 00:47:51.359 align:start position:0% ethereum blockchain to effectively talk 00:47:51.359 --> 00:47:54.500 align:start position:0% ethereum blockchain to effectively talk to<00:47:51.599> the<00:47:51.690> real<00:47:51.869> world<00:47:52.910> what<00:47:53.910> do<00:47:54.000> you<00:47:54.059> think<00:47:54.119> that 00:47:54.500 --> 00:47:54.510 align:start position:0% to the real world what do you think that 00:47:54.510 --> 00:47:56.210 align:start position:0% to the real world what do you think that you<00:47:54.750> know<00:47:54.839> we<00:47:55.260> could<00:47:55.410> be<00:47:55.500> doing<00:47:55.650> better<00:47:55.770> to 00:47:56.210 --> 00:47:56.220 align:start position:0% you know we could be doing better to 00:47:56.220 --> 00:47:57.529 align:start position:0% you know we could be doing better to allow<00:47:56.460> the<00:47:56.490> etherion<00:47:57.000> blockchain<00:47:57.240> to 00:47:57.529 --> 00:47:57.539 align:start position:0% allow the etherion blockchain to 00:47:57.539 --> 00:47:58.730 align:start position:0% allow the etherion blockchain to communicate<00:47:57.990> with<00:47:58.020> the<00:47:58.200> real<00:47:58.349> world<00:47:58.589> and 00:47:58.730 --> 00:47:58.740 align:start position:0% communicate with the real world and 00:47:58.740 --> 00:48:00.200 align:start position:0% communicate with the real world and center<00:47:59.160> for<00:47:59.279> the<00:47:59.339> real<00:47:59.520> words<00:47:59.789> communicate 00:48:00.200 --> 00:48:00.210 align:start position:0% center for the real words communicate 00:48:00.210 --> 00:48:02.120 align:start position:0% center for the real words communicate with<00:48:00.299> the<00:48:00.359> etherion<00:48:00.660> blockchain<00:48:01.069> going<00:48:02.069> to 00:48:02.120 --> 00:48:02.130 align:start position:0% with the etherion blockchain going to 00:48:02.130 --> 00:48:04.789 align:start position:0% with the etherion blockchain going to start<00:48:02.339> with<00:48:02.430> that<00:48:02.579> nickel<00:48:03.089> and<00:48:03.380> there's<00:48:04.380> the 00:48:04.789 --> 00:48:04.799 align:start position:0% start with that nickel and there's the 00:48:04.799 --> 00:48:06.680 align:start position:0% start with that nickel and there's the two<00:48:05.279> ways<00:48:05.430> one<00:48:05.670> way<00:48:05.730> as<00:48:06.000> we<00:48:06.150> need<00:48:06.299> a<00:48:06.329> very<00:48:06.510> good 00:48:06.680 --> 00:48:06.690 align:start position:0% two ways one way as we need a very good 00:48:06.690 --> 00:48:09.349 align:start position:0% two ways one way as we need a very good data<00:48:07.260> feed<00:48:07.559> infrastructure<00:48:08.220> and<00:48:08.430> the<00:48:09.180> other 00:48:09.349 --> 00:48:09.359 align:start position:0% data feed infrastructure and the other 00:48:09.359 --> 00:48:14.410 align:start position:0% data feed infrastructure and the other way<00:48:09.569> is<00:48:09.599> we<00:48:10.170> need<00:48:10.410> like<00:48:11.130> legal<00:48:12.589> we<00:48:13.589> need<00:48:13.859> like<00:48:14.010> a 00:48:14.410 --> 00:48:14.420 align:start position:0% way is we need like legal we need like a 00:48:14.420 --> 00:48:17.089 align:start position:0% way is we need like legal we need like a framework<00:48:15.420> for<00:48:15.650> people<00:48:16.650> to<00:48:16.770> be<00:48:16.859> able<00:48:16.920> to 00:48:17.089 --> 00:48:17.099 align:start position:0% framework for people to be able to 00:48:17.099 --> 00:48:19.130 align:start position:0% framework for people to be able to define<00:48:17.730> things<00:48:17.970> legally<00:48:18.450> in<00:48:18.599> terms<00:48:18.809> of<00:48:18.900> smart 00:48:19.130 --> 00:48:19.140 align:start position:0% define things legally in terms of smart 00:48:19.140 --> 00:48:22.220 align:start position:0% define things legally in terms of smart contracts<00:48:19.819> so<00:48:20.819> like<00:48:21.119> right<00:48:21.270> now<00:48:21.450> slock<00:48:22.049> it 00:48:22.220 --> 00:48:22.230 align:start position:0% contracts so like right now slock it 00:48:22.230 --> 00:48:24.200 align:start position:0% contracts so like right now slock it works<00:48:22.559> because<00:48:23.039> it's<00:48:23.460> a<00:48:23.549> physical<00:48:23.700> device<00:48:23.970> you 00:48:24.200 --> 00:48:24.210 align:start position:0% works because it's a physical device you 00:48:24.210 --> 00:48:25.519 align:start position:0% works because it's a physical device you don't<00:48:24.359> need<00:48:24.450> a<00:48:24.480> lot<00:48:24.630> but<00:48:24.779> there's<00:48:24.930> any<00:48:25.170> many 00:48:25.519 --> 00:48:25.529 align:start position:0% don't need a lot but there's any many 00:48:25.529 --> 00:48:27.230 align:start position:0% don't need a lot but there's any many similar<00:48:25.859> things<00:48:26.099> where<00:48:26.339> you<00:48:26.730> are<00:48:27.000> only 00:48:27.230 --> 00:48:27.240 align:start position:0% similar things where you are only 00:48:27.240 --> 00:48:28.640 align:start position:0% similar things where you are only reading<00:48:27.690> data<00:48:27.869> off<00:48:27.990> the<00:48:28.079> block<00:48:28.319> chain<00:48:28.349> but 00:48:28.640 --> 00:48:28.650 align:start position:0% reading data off the block chain but 00:48:28.650 --> 00:48:30.019 align:start position:0% reading data off the block chain but that's<00:48:28.799> like<00:48:28.920> you're<00:48:29.339> supposed<00:48:29.730> to<00:48:29.789> interpret 00:48:30.019 --> 00:48:30.029 align:start position:0% that's like you're supposed to interpret 00:48:30.029 --> 00:48:31.579 align:start position:0% that's like you're supposed to interpret that<00:48:30.210> as<00:48:30.270> meaningful<00:48:30.660> and<00:48:30.990> so<00:48:31.289> we<00:48:31.349> need<00:48:31.470> like<00:48:31.559> a 00:48:31.579 --> 00:48:31.589 align:start position:0% that as meaningful and so we need like a 00:48:31.589 --> 00:48:37.220 align:start position:0% that as meaningful and so we need like a legal<00:48:31.890> framework<00:48:33.890> like<00:48:34.890> I<00:48:35.690> I<00:48:36.690> think<00:48:37.049> that 00:48:37.220 --> 00:48:37.230 align:start position:0% legal framework like I I think that 00:48:37.230 --> 00:48:41.450 align:start position:0% legal framework like I I think that there<00:48:37.680> are<00:48:38.029> going<00:48:39.029> to<00:48:39.180> be<00:48:39.650> many<00:48:40.650> many<00:48:41.069> bridges 00:48:41.450 --> 00:48:41.460 align:start position:0% there are going to be many many bridges 00:48:41.460 --> 00:48:44.180 align:start position:0% there are going to be many many bridges that<00:48:42.150> will<00:48:42.869> get<00:48:43.140> built<00:48:43.380> but<00:48:43.740> haven't<00:48:44.099> yet 00:48:44.180 --> 00:48:44.190 align:start position:0% that will get built but haven't yet 00:48:44.190 --> 00:48:46.460 align:start position:0% that will get built but haven't yet though<00:48:44.430> haven't<00:48:45.089> been<00:48:45.420> built<00:48:45.660> yet<00:48:45.839> that 00:48:46.460 --> 00:48:46.470 align:start position:0% though haven't been built yet that 00:48:46.470 --> 00:48:49.339 align:start position:0% though haven't been built yet that bridged<00:48:47.160> the<00:48:47.430> real<00:48:47.609> world<00:48:47.880> and<00:48:48.270> the<00:48:48.990> block 00:48:49.339 --> 00:48:49.349 align:start position:0% bridged the real world and the block 00:48:49.349 --> 00:48:53.049 align:start position:0% bridged the real world and the block chain<00:48:49.380> and<00:48:50.010> i<00:48:50.460> mean<00:48:50.910> it's<00:48:51.059> its<00:48:51.420> data<00:48:51.720> feeds<00:48:52.049> its 00:48:53.049 --> 00:48:53.059 align:start position:0% chain and i mean it's its data feeds its 00:48:53.059 --> 00:48:56.480 align:start position:0% chain and i mean it's its data feeds its oracle<00:48:54.059> eyes<00:48:54.210> letting<00:48:55.109> you<00:48:55.289> you<00:48:56.010> know<00:48:56.130> hold 00:48:56.480 --> 00:48:56.490 align:start position:0% oracle eyes letting you you know hold 00:48:56.490 --> 00:48:59.900 align:start position:0% oracle eyes letting you you know hold data<00:48:56.789> in<00:48:57.000> from<00:48:57.420> from<00:48:57.900> the<00:48:57.990> internet<00:48:58.349> it<00:48:58.910> each 00:48:59.900 --> 00:48:59.910 align:start position:0% data in from from the internet it each 00:48:59.910 --> 00:49:03.079 align:start position:0% data in from from the internet it each of<00:49:00.180> these<00:49:00.359> ads<00:49:00.750> a<00:49:01.309> another<00:49:02.309> layer<00:49:02.640> to<00:49:02.670> the 00:49:03.079 --> 00:49:03.089 align:start position:0% of these ads a another layer to the 00:49:03.089 --> 00:49:07.789 align:start position:0% of these ads a another layer to the foundation<00:49:03.660> and<00:49:05.329> and<00:49:06.329> they'll<00:49:07.230> come<00:49:07.260> slowly 00:49:07.789 --> 00:49:07.799 align:start position:0% foundation and and they'll come slowly 00:49:07.799 --> 00:49:09.710 align:start position:0% foundation and and they'll come slowly and<00:49:08.160> they'll<00:49:08.520> show<00:49:08.730> up<00:49:08.880> over<00:49:09.150> time<00:49:09.329> but 00:49:09.710 --> 00:49:09.720 align:start position:0% and they'll show up over time but 00:49:09.720 --> 00:49:11.720 align:start position:0% and they'll show up over time but there's<00:49:10.410> a<00:49:10.470> lot<00:49:10.650> of<00:49:10.680> them<00:49:10.920> still<00:49:11.250> to<00:49:11.369> be<00:49:11.490> built 00:49:11.720 --> 00:49:11.730 align:start position:0% there's a lot of them still to be built 00:49:11.730 --> 00:49:14.089 align:start position:0% there's a lot of them still to be built and<00:49:11.910> before<00:49:12.299> they're<00:49:12.420> built<00:49:12.660> any<00:49:12.990> many<00:49:13.950> of 00:49:14.089 --> 00:49:14.099 align:start position:0% and before they're built any many of 00:49:14.099 --> 00:49:16.789 align:start position:0% and before they're built any many of them<00:49:14.250> rely<00:49:14.640> on<00:49:14.880> others<00:49:15.299> to<00:49:15.329> be<00:49:15.809> built<00:49:16.049> first<00:49:16.319> so 00:49:16.789 --> 00:49:16.799 align:start position:0% them rely on others to be built first so 00:49:16.799 --> 00:49:18.170 align:start position:0% them rely on others to be built first so we're<00:49:17.460> going<00:49:17.579> to<00:49:17.670> have<00:49:17.760> to<00:49:17.849> build<00:49:18.029> that 00:49:18.170 --> 00:49:18.180 align:start position:0% we're going to have to build that 00:49:18.180 --> 00:49:22.190 align:start position:0% we're going to have to build that foundation<00:49:18.329> up<00:49:18.809> a<00:49:18.900> little<00:49:19.079> bit<00:49:19.200> at<00:49:19.319> a<00:49:19.349> time<00:49:21.200> I 00:49:22.190 --> 00:49:22.200 align:start position:0% foundation up a little bit at a time I 00:49:22.200 --> 00:49:25.700 align:start position:0% foundation up a little bit at a time I think<00:49:22.799> I<00:49:22.920> Creek<00:49:23.880> crypto<00:49:24.240> economics<00:49:24.839> is 00:49:25.700 --> 00:49:25.710 align:start position:0% think I Creek crypto economics is 00:49:25.710 --> 00:49:27.930 align:start position:0% think I Creek crypto economics is with<00:49:26.710> the<00:49:26.830> incentives<00:49:27.280> that<00:49:27.400> we've<00:49:27.760> been 00:49:27.930 --> 00:49:27.940 align:start position:0% with the incentives that we've been 00:49:27.940 --> 00:49:30.420 align:start position:0% with the incentives that we've been discussing<00:49:28.300> that's<00:49:28.810> one<00:49:29.200> key<00:49:30.070> thing<00:49:30.250> that 00:49:30.420 --> 00:49:30.430 align:start position:0% discussing that's one key thing that 00:49:30.430 --> 00:49:33.690 align:start position:0% discussing that's one key thing that will<00:49:30.580> really<00:49:31.000> help<00:49:31.120> as<00:49:31.510> we<00:49:32.470> learn<00:49:33.250> about<00:49:33.280> that 00:49:33.690 --> 00:49:33.700 align:start position:0% will really help as we learn about that 00:49:33.700 --> 00:49:36.180 align:start position:0% will really help as we learn about that more<00:49:33.940> so<00:49:34.720> when<00:49:34.870> bitcoin<00:49:35.050> it<00:49:35.740> started<00:49:36.130> out 00:49:36.180 --> 00:49:36.190 align:start position:0% more so when bitcoin it started out 00:49:36.190 --> 00:49:38.850 align:start position:0% more so when bitcoin it started out right<00:49:36.550> at<00:49:36.730> 50<00:49:37.510> bitcoins<00:49:37.930> in<00:49:38.290> the<00:49:38.380> first<00:49:38.560> four 00:49:38.850 --> 00:49:38.860 align:start position:0% right at 50 bitcoins in the first four 00:49:38.860 --> 00:49:42.030 align:start position:0% right at 50 bitcoins in the first four years<00:49:39.160> and<00:49:39.490> then<00:49:39.610> 25<00:49:40.470> decreases<00:49:41.470> by<00:49:41.740> half 00:49:42.030 --> 00:49:42.040 align:start position:0% years and then 25 decreases by half 00:49:42.040 --> 00:49:44.790 align:start position:0% years and then 25 decreases by half every<00:49:42.250> four<00:49:42.670> years<00:49:43.110> so<00:49:44.110> it's<00:49:44.350> like<00:49:44.560> that 00:49:44.790 --> 00:49:44.800 align:start position:0% every four years so it's like that 00:49:44.800 --> 00:49:47.070 align:start position:0% every four years so it's like that formula<00:49:45.700> right<00:49:46.120> now<00:49:46.300> seems<00:49:46.630> to<00:49:46.720> be<00:49:46.810> working 00:49:47.070 --> 00:49:47.080 align:start position:0% formula right now seems to be working 00:49:47.080 --> 00:49:49.650 align:start position:0% formula right now seems to be working for<00:49:47.710> for<00:49:47.950> Bitcoin<00:49:48.310> but<00:49:48.550> it's<00:49:49.150> these<00:49:49.270> kinds<00:49:49.330> of 00:49:49.650 --> 00:49:49.660 align:start position:0% for for Bitcoin but it's these kinds of 00:49:49.660 --> 00:49:52.080 align:start position:0% for for Bitcoin but it's these kinds of things<00:49:49.720> that<00:49:50.080> would<00:49:50.890> be<00:49:50.920> good<00:49:51.160> to<00:49:51.220> UM<00:49:51.520> try<00:49:52.030> to 00:49:52.080 --> 00:49:52.090 align:start position:0% things that would be good to UM try to 00:49:52.090 --> 00:49:53.810 align:start position:0% things that would be good to UM try to see<00:49:52.240> if<00:49:52.300> we<00:49:52.330> can<00:49:52.510> understand<00:49:52.900> more<00:49:53.050> sure 00:49:53.810 --> 00:49:53.820 align:start position:0% see if we can understand more sure 00:49:53.820 --> 00:49:59.160 align:start position:0% see if we can understand more sure really<00:49:55.020> yeah<00:49:56.020> well<00:49:56.710> I<00:49:56.980> just<00:49:57.910> got<00:49:58.120> new<00:49:58.450> mic<00:49:58.720> so 00:49:59.160 --> 00:49:59.170 align:start position:0% really yeah well I just got new mic so 00:49:59.170 --> 00:50:01.020 align:start position:0% really yeah well I just got new mic so maybe<00:49:59.710> I<00:49:59.800> should<00:49:59.980> repeat<00:50:00.310> for<00:50:00.490> the<00:50:00.520> comments 00:50:01.020 --> 00:50:01.030 align:start position:0% maybe I should repeat for the comments 00:50:01.030 --> 00:50:03.660 align:start position:0% maybe I should repeat for the comments that<00:50:01.390> I<00:50:01.540> said<00:50:01.750> before<00:50:01.980> yeah<00:50:02.980> now<00:50:03.190> know<00:50:03.400> you<00:50:03.460> can 00:50:03.660 --> 00:50:03.670 align:start position:0% that I said before yeah now know you can 00:50:03.670 --> 00:50:08.220 align:start position:0% that I said before yeah now know you can hear<00:50:03.850> me<00:50:03.910> okay<00:50:04.030> cool<00:50:04.510> so<00:50:05.790> yeah<00:50:07.020> okay<00:50:08.020> I'll<00:50:08.200> be 00:50:08.220 --> 00:50:08.230 align:start position:0% hear me okay cool so yeah okay I'll be 00:50:08.230 --> 00:50:11.220 align:start position:0% hear me okay cool so yeah okay I'll be serious<00:50:08.770> and<00:50:09.010> I'll<00:50:09.850> say<00:50:10.150> this<00:50:10.360> is<00:50:10.510> exactly<00:50:10.840> why 00:50:11.220 --> 00:50:11.230 align:start position:0% serious and I'll say this is exactly why 00:50:11.230 --> 00:50:14.190 align:start position:0% serious and I'll say this is exactly why a<00:50:11.910> reconstructing<00:50:12.910> this<00:50:13.060> hot<00:50:13.300> dog<00:50:13.480> eater<00:50:13.690> cam 00:50:14.190 --> 00:50:14.200 align:start position:0% a reconstructing this hot dog eater cam 00:50:14.200 --> 00:50:18.660 align:start position:0% a reconstructing this hot dog eater cam and<00:50:14.940> no<00:50:15.940> no<00:50:16.120> this<00:50:16.810> time<00:50:16.990> for<00:50:17.200> serious<00:50:17.410> and<00:50:17.710> the 00:50:18.660 --> 00:50:18.670 align:start position:0% and no no this time for serious and the 00:50:18.670 --> 00:50:21.630 align:start position:0% and no no this time for serious and the point<00:50:18.850> is<00:50:19.090> this<00:50:19.420> we<00:50:20.410> see<00:50:20.710> we<00:50:21.040> are<00:50:21.130> talking<00:50:21.460> all 00:50:21.630 --> 00:50:21.640 align:start position:0% point is this we see we are talking all 00:50:21.640 --> 00:50:24.090 align:start position:0% point is this we see we are talking all the<00:50:21.820> time<00:50:21.850> about<00:50:22.180> the<00:50:22.510> same<00:50:22.810> ideas<00:50:23.680> in<00:50:23.920> the 00:50:24.090 --> 00:50:24.100 align:start position:0% the time about the same ideas in the 00:50:24.100 --> 00:50:26.360 align:start position:0% the time about the same ideas in the terminal<00:50:24.340> in<00:50:24.940> the<00:50:25.090> decentralization<00:50:25.720> warlike 00:50:26.360 --> 00:50:26.370 align:start position:0% terminal in the decentralization warlike 00:50:26.370 --> 00:50:30.390 align:start position:0% terminal in the decentralization warlike reputation<00:50:27.370> tokens<00:50:27.880> and<00:50:28.380> identity<00:50:29.380> and<00:50:29.680> it's 00:50:30.390 --> 00:50:30.400 align:start position:0% reputation tokens and identity and it's 00:50:30.400 --> 00:50:32.850 align:start position:0% reputation tokens and identity and it's kind<00:50:30.760> of<00:50:30.880> okay<00:50:31.810> we<00:50:32.020> kind<00:50:32.200> of<00:50:32.230> understand<00:50:32.740> how 00:50:32.850 --> 00:50:32.860 align:start position:0% kind of okay we kind of understand how 00:50:32.860 --> 00:50:35.280 align:start position:0% kind of okay we kind of understand how it<00:50:33.010> should<00:50:33.190> work<00:50:33.220> but<00:50:34.090> we<00:50:34.660> want<00:50:34.900> people<00:50:35.110> to 00:50:35.280 --> 00:50:35.290 align:start position:0% it should work but we want people to 00:50:35.290 --> 00:50:38.070 align:start position:0% it should work but we want people to move<00:50:35.530> forward<00:50:35.860> and<00:50:36.190> we<00:50:36.700> want<00:50:36.910> place<00:50:37.300> and<00:50:37.690> stage 00:50:38.070 --> 00:50:38.080 align:start position:0% move forward and we want place and stage 00:50:38.080 --> 00:50:40.170 align:start position:0% move forward and we want place and stage for<00:50:38.500> people<00:50:38.830> to<00:50:38.980> communicate<00:50:39.700> their<00:50:40.150> ideas 00:50:40.170 --> 00:50:40.180 align:start position:0% for people to communicate their ideas 00:50:40.180 --> 00:50:43.200 align:start position:0% for people to communicate their ideas say<00:50:40.960> much<00:50:41.380> better<00:50:41.770> in<00:50:42.190> the<00:50:42.580> development<00:50:43.150> stage 00:50:43.200 --> 00:50:43.210 align:start position:0% say much better in the development stage 00:50:43.210 --> 00:50:46.020 align:start position:0% say much better in the development stage and<00:50:43.690> this<00:50:44.590> is<00:50:44.740> exactly<00:50:44.920> what<00:50:45.550> we're<00:50:45.700> trying<00:50:45.880> to 00:50:46.020 --> 00:50:46.030 align:start position:0% and this is exactly what we're trying to 00:50:46.030 --> 00:50:48.570 align:start position:0% and this is exactly what we're trying to do<00:50:46.300> with<00:50:46.510> trying<00:50:46.660> to<00:50:46.810> put<00:50:47.080> developers<00:50:47.620> in<00:50:47.830> some 00:50:48.570 --> 00:50:48.580 align:start position:0% do with trying to put developers in some 00:50:48.580 --> 00:50:51.420 align:start position:0% do with trying to put developers in some place<00:50:48.880> we<00:50:49.630> want<00:50:49.810> them<00:50:50.020> to<00:50:50.200> get<00:50:50.350> rewarded<00:50:50.920> we 00:50:51.420 --> 00:50:51.430 align:start position:0% place we want them to get rewarded we 00:50:51.430 --> 00:50:54.120 align:start position:0% place we want them to get rewarded we also<00:50:51.550> invited<00:50:51.940> judges<00:50:52.600> from<00:50:53.230> from<00:50:54.010> the 00:50:54.120 --> 00:50:54.130 align:start position:0% also invited judges from from the 00:50:54.130 --> 00:50:57.720 align:start position:0% also invited judges from from the community<00:50:54.640> to<00:50:55.270> watch<00:50:55.540> a<00:50:55.900> after<00:50:56.680> them<00:50:56.950> a<00:50:57.220> doing 00:50:57.720 --> 00:50:57.730 align:start position:0% community to watch a after them a doing 00:50:57.730 --> 00:51:00.390 align:start position:0% community to watch a after them a doing stuff<00:50:58.090> and<00:50:58.390> the<00:50:58.930> comment<00:50:59.440> and<00:50:59.680> give<00:50:59.980> them<00:51:00.160> a 00:51:00.390 --> 00:51:00.400 align:start position:0% stuff and the comment and give them a 00:51:00.400 --> 00:51:03.840 align:start position:0% stuff and the comment and give them a likes<00:51:01.300> and<00:51:01.600> kudos<00:51:01.900> for<00:51:02.140> good<00:51:02.380> ideas<00:51:02.800> and<00:51:03.010> this 00:51:03.840 --> 00:51:03.850 align:start position:0% likes and kudos for good ideas and this 00:51:03.850 --> 00:51:07.890 align:start position:0% likes and kudos for good ideas and this way<00:51:04.330> we<00:51:04.840> live<00:51:05.200> it<00:51:05.440> that<00:51:05.950> ideas<00:51:06.790> that<00:51:07.030> we<00:51:07.180> don't 00:51:07.890 --> 00:51:07.900 align:start position:0% way we live it that ideas that we don't 00:51:07.900 --> 00:51:10.200 align:start position:0% way we live it that ideas that we don't even<00:51:08.080> think<00:51:08.200> about<00:51:08.560> them<00:51:09.040> will<00:51:09.550> pop<00:51:09.820> up<00:51:09.970> on<00:51:10.180> the 00:51:10.200 --> 00:51:10.210 align:start position:0% even think about them will pop up on the 00:51:10.210 --> 00:51:13.740 align:start position:0% even think about them will pop up on the surface<00:51:10.720> this<00:51:11.380> is<00:51:11.620> exactly<00:51:11.800> why<00:51:12.370> I'm<00:51:12.940> crying<00:51:13.270> k 00:51:13.740 --> 00:51:13.750 align:start position:0% surface this is exactly why I'm crying k 00:51:13.750 --> 00:51:17.780 align:start position:0% surface this is exactly why I'm crying k to<00:51:13.810> market<00:51:14.440> it's<00:51:14.590> all<00:51:14.830> so<00:51:15.190> bad<00:51:15.400> okay<00:51:16.240> thank<00:51:16.480> you 00:51:17.780 --> 00:51:17.790 align:start position:0% to market it's all so bad okay thank you 00:51:17.790 --> 00:51:23.390 align:start position:0% to market it's all so bad okay thank you Chris<00:51:18.790> yeah<00:51:19.420> so<00:51:19.920> well<00:51:20.920> I<00:51:20.950> guess<00:51:21.420> getting<00:51:22.420> data 00:51:23.390 --> 00:51:23.400 align:start position:0% Chris yeah so well I guess getting data 00:51:23.400 --> 00:51:26.220 align:start position:0% Chris yeah so well I guess getting data into<00:51:24.400> the<00:51:24.430> blockchain<00:51:24.790> this<00:51:25.330> is<00:51:25.600> all<00:51:25.960> about 00:51:26.220 --> 00:51:26.230 align:start position:0% into the blockchain this is all about 00:51:26.230 --> 00:51:29.460 align:start position:0% into the blockchain this is all about Oracle's<00:51:26.920> and<00:51:27.370> and<00:51:27.700> I<00:51:28.030> think<00:51:28.240> Nicolai<00:51:29.230> had<00:51:29.440> a 00:51:29.460 --> 00:51:29.470 align:start position:0% Oracle's and and I think Nicolai had a 00:51:29.470 --> 00:51:31.550 align:start position:0% Oracle's and and I think Nicolai had a good<00:51:29.650> point<00:51:29.950> about<00:51:30.160> how<00:51:30.610> how<00:51:30.940> do<00:51:31.000> we 00:51:31.550 --> 00:51:31.560 align:start position:0% good point about how how do we 00:51:31.560 --> 00:51:35.010 align:start position:0% good point about how how do we incentivize<00:51:32.640> Oracle's<00:51:33.640> like<00:51:34.510> if<00:51:34.750> if 00:51:35.010 --> 00:51:35.020 align:start position:0% incentivize Oracle's like if if 00:51:35.020 --> 00:51:38.220 align:start position:0% incentivize Oracle's like if if Bloomberg<00:51:35.920> provides<00:51:36.790> an<00:51:37.210> Oracle<00:51:37.660> feed<00:51:37.900> for 00:51:38.220 --> 00:51:38.230 align:start position:0% Bloomberg provides an Oracle feed for 00:51:38.230 --> 00:51:39.120 align:start position:0% Bloomberg provides an Oracle feed for instance 00:51:39.120 --> 00:51:39.130 align:start position:0% instance 00:51:39.130 --> 00:51:43.260 align:start position:0% instance a<00:51:39.430> data<00:51:39.880> feed<00:51:40.350> what's<00:51:41.350> you<00:51:42.070> know<00:51:42.190> is<00:51:43.000> there<00:51:43.060> a 00:51:43.260 --> 00:51:43.270 align:start position:0% a data feed what's you know is there a 00:51:43.270 --> 00:51:44.760 align:start position:0% a data feed what's you know is there a business<00:51:43.690> model<00:51:43.840> around<00:51:44.080> that<00:51:44.440> you<00:51:44.680> know 00:51:44.760 --> 00:51:44.770 align:start position:0% business model around that you know 00:51:44.770 --> 00:51:47.010 align:start position:0% business model around that you know maybe<00:51:44.950> you<00:51:45.040> can<00:51:45.250> charge<00:51:45.750> contracts<00:51:46.750> for 00:51:47.010 --> 00:51:47.020 align:start position:0% maybe you can charge contracts for 00:51:47.020 --> 00:51:49.950 align:start position:0% maybe you can charge contracts for getting<00:51:47.470> this<00:51:47.590> data<00:51:47.800> etc<00:51:48.240> so<00:51:49.240> so<00:51:49.660> that's<00:51:49.840> an 00:51:49.950 --> 00:51:49.960 align:start position:0% getting this data etc so so that's an 00:51:49.960 --> 00:51:52.850 align:start position:0% getting this data etc so so that's an interesting<00:51:50.410> discussion<00:51:50.740> and<00:51:51.240> the<00:51:52.240> other<00:51:52.480> way 00:51:52.850 --> 00:51:52.860 align:start position:0% interesting discussion and the other way 00:51:52.860 --> 00:51:56.340 align:start position:0% interesting discussion and the other way you<00:51:53.860> know<00:51:53.980> I<00:51:54.010> think<00:51:54.700> it's<00:51:55.420> locket<00:51:55.840> this<00:51:56.080> is<00:51:56.320> a 00:51:56.340 --> 00:51:56.350 align:start position:0% you know I think it's locket this is a 00:51:56.350 --> 00:51:59.480 align:start position:0% you know I think it's locket this is a is<00:51:57.010> a<00:51:57.070> interesting<00:51:57.940> example<00:51:58.660> where<00:51:58.810> you<00:51:58.840> have 00:51:59.480 --> 00:51:59.490 align:start position:0% is a interesting example where you have 00:51:59.490 --> 00:52:01.590 align:start position:0% is a interesting example where you have autonomous<00:52:00.490> devices<00:52:01.090> reading<00:52:01.510> the 00:52:01.590 --> 00:52:01.600 align:start position:0% autonomous devices reading the 00:52:01.600 --> 00:52:07.320 align:start position:0% autonomous devices reading the blockchain<00:52:01.810> and<00:52:02.970> changing<00:52:03.970> state<00:52:05.520> I'd<00:52:06.520> like 00:52:07.320 --> 00:52:07.330 align:start position:0% blockchain and changing state I'd like 00:52:07.330 --> 00:52:14.970 align:start position:0% blockchain and changing state I'd like to<00:52:07.360> see<00:52:07.810> that<00:52:08.020> explored<00:52:08.830> more<00:52:11.550> yeah<00:52:12.810> cool<00:52:13.980> so 00:52:14.970 --> 00:52:14.980 align:start position:0% to see that explored more yeah cool so 00:52:14.980 --> 00:52:16.950 align:start position:0% to see that explored more yeah cool so yeah<00:52:15.160> that's<00:52:15.400> that's<00:52:15.700> like<00:52:15.940> to<00:52:16.060> add<00:52:16.180> go<00:52:16.780> ahead 00:52:16.950 --> 00:52:16.960 align:start position:0% yeah that's that's like to add go ahead 00:52:16.960 --> 00:52:20.040 align:start position:0% yeah that's that's like to add go ahead Bible<00:52:17.400> time<00:52:18.400> soon<00:52:18.880> we're<00:52:19.270> going<00:52:19.420> to<00:52:19.510> see<00:52:19.780> a 00:52:20.040 --> 00:52:20.050 align:start position:0% Bible time soon we're going to see a 00:52:20.050 --> 00:52:22.710 align:start position:0% Bible time soon we're going to see a trust<00:52:20.650> list<00:52:20.950> service<00:52:21.640> of<00:52:21.850> some<00:52:22.060> kind<00:52:22.300> that 00:52:22.710 --> 00:52:22.720 align:start position:0% trust list service of some kind that 00:52:22.720 --> 00:52:25.200 align:start position:0% trust list service of some kind that somebody<00:52:23.140> biltz<00:52:23.530> that<00:52:23.800> gets<00:52:24.010> filthy<00:52:24.490> rich<00:52:24.910> on 00:52:25.200 --> 00:52:25.210 align:start position:0% somebody biltz that gets filthy rich on 00:52:25.210 --> 00:52:28.380 align:start position:0% somebody biltz that gets filthy rich on accident<00:52:25.900> and<00:52:26.140> has<00:52:26.590> just<00:52:26.640> tons<00:52:27.640> of<00:52:28.120> money 00:52:28.380 --> 00:52:28.390 align:start position:0% accident and has just tons of money 00:52:28.390 --> 00:52:30.870 align:start position:0% accident and has just tons of money locked<00:52:28.810> up<00:52:29.110> in<00:52:29.260> it<00:52:29.410> that<00:52:29.590> nobody<00:52:30.010> can<00:52:30.460> get<00:52:30.700> at 00:52:30.870 --> 00:52:30.880 align:start position:0% locked up in it that nobody can get at 00:52:30.880 --> 00:52:33.270 align:start position:0% locked up in it that nobody can get at and<00:52:31.090> that<00:52:31.690> thing<00:52:32.200> is<00:52:32.410> going<00:52:32.560> to<00:52:32.620> stand<00:52:33.040> there 00:52:33.270 --> 00:52:33.280 align:start position:0% and that thing is going to stand there 00:52:33.280 --> 00:52:36.450 align:start position:0% and that thing is going to stand there as<00:52:33.670> like<00:52:33.970> a<00:52:34.000> beacon<00:52:34.540> to<00:52:34.780> people<00:52:35.530> who<00:52:36.040> want<00:52:36.280> to 00:52:36.450 --> 00:52:36.460 align:start position:0% as like a beacon to people who want to 00:52:36.460 --> 00:52:38.100 align:start position:0% as like a beacon to people who want to make<00:52:36.610> money<00:52:36.820> making<00:52:37.540> these<00:52:37.660> kind<00:52:37.930> of<00:52:38.050> things 00:52:38.100 --> 00:52:38.110 align:start position:0% make money making these kind of things 00:52:38.110 --> 00:52:40.800 align:start position:0% make money making these kind of things and<00:52:38.620> once<00:52:39.100> we<00:52:39.190> see<00:52:39.460> that<00:52:39.730> happen<00:52:40.240> it's<00:52:40.630> going 00:52:40.800 --> 00:52:40.810 align:start position:0% and once we see that happen it's going 00:52:40.810 --> 00:52:44.180 align:start position:0% and once we see that happen it's going to<00:52:40.900> provide<00:52:41.230> some<00:52:41.530> huge<00:52:42.010> motivation<00:52:42.610> for 00:52:44.180 --> 00:52:44.190 align:start position:0% to provide some huge motivation for 00:52:44.190 --> 00:52:47.100 align:start position:0% to provide some huge motivation for entrepreneurs<00:52:45.190> investors<00:52:45.780> people<00:52:46.780> who<00:52:46.900> make 00:52:47.100 --> 00:52:47.110 align:start position:0% entrepreneurs investors people who make 00:52:47.110 --> 00:52:50.610 align:start position:0% entrepreneurs investors people who make things<00:52:47.140> to<00:52:48.040> to<00:52:48.400> make<00:52:48.610> more<00:52:48.820> of<00:52:48.880> those<00:52:49.210> but<00:52:50.080> not 00:52:50.610 --> 00:52:50.620 align:start position:0% things to to make more of those but not 00:52:50.620 --> 00:52:52.860 align:start position:0% things to to make more of those but not in<00:52:50.860> a<00:52:50.950> way<00:52:50.980> that<00:52:51.310> accidentally<00:52:52.180> locks<00:52:52.510> all<00:52:52.750> the 00:52:52.860 --> 00:52:52.870 align:start position:0% in a way that accidentally locks all the 00:52:52.870 --> 00:52:55.350 align:start position:0% in a way that accidentally locks all the money<00:52:53.050> away<00:52:53.140> yeah<00:52:53.950> for<00:52:54.160> sure<00:52:54.220> yeah<00:52:54.760> I<00:52:54.940> mean<00:52:55.120> I 00:52:55.350 --> 00:52:55.360 align:start position:0% money away yeah for sure yeah I mean I 00:52:55.360 --> 00:52:58.230 align:start position:0% money away yeah for sure yeah I mean I think<00:52:55.800> looking<00:52:56.800> back<00:52:56.860> to<00:52:57.220> maybe<00:52:57.400> some<00:52:57.670> older 00:52:58.230 --> 00:52:58.240 align:start position:0% think looking back to maybe some older 00:52:58.240 --> 00:53:00.080 align:start position:0% think looking back to maybe some older programs<00:52:59.020> that<00:52:59.200> we<00:52:59.260> used<00:52:59.440> on<00:52:59.530> computers 00:53:00.080 --> 00:53:00.090 align:start position:0% programs that we used on computers 00:53:00.090 --> 00:53:03.360 align:start position:0% programs that we used on computers twenty<00:53:01.090> fifteen<00:53:01.960> years<00:53:02.230> ago<00:53:02.260> that<00:53:03.100> could<00:53:03.250> be<00:53:03.340> a 00:53:03.360 --> 00:53:03.370 align:start position:0% twenty fifteen years ago that could be a 00:53:03.370 --> 00:53:04.680 align:start position:0% twenty fifteen years ago that could be a good<00:53:03.490> place<00:53:03.670> to<00:53:03.790> start<00:53:04.000> they're<00:53:04.180> very<00:53:04.330> simple 00:53:04.680 --> 00:53:04.690 align:start position:0% good place to start they're very simple 00:53:04.690 --> 00:53:06.360 align:start position:0% good place to start they're very simple they're<00:53:04.840> very<00:53:04.990> useful<00:53:05.350> that's<00:53:05.860> when<00:53:06.010> you<00:53:06.220> know 00:53:06.360 --> 00:53:06.370 align:start position:0% they're very useful that's when you know 00:53:06.370 --> 00:53:09.000 align:start position:0% they're very useful that's when you know that<00:53:07.210> would<00:53:07.330> be<00:53:07.360> a<00:53:07.480> good<00:53:07.600> place<00:53:07.660> to<00:53:07.930> look<00:53:08.080> so<00:53:08.980> I 00:53:09.000 --> 00:53:09.010 align:start position:0% that would be a good place to look so I 00:53:09.010 --> 00:53:10.380 align:start position:0% that would be a good place to look so I think<00:53:09.460> we've<00:53:09.610> sacrificed<00:53:09.820> the<00:53:10.300> other 00:53:10.380 --> 00:53:10.390 align:start position:0% think we've sacrificed the other 00:53:10.390 --> 00:53:12.480 align:start position:0% think we've sacrificed the other microphone<00:53:10.900> but<00:53:11.170> does<00:53:11.680> anyone<00:53:11.890> have<00:53:12.100> any 00:53:12.480 --> 00:53:12.490 align:start position:0% microphone but does anyone have any 00:53:12.490 --> 00:53:14.790 align:start position:0% microphone but does anyone have any questions<00:53:12.900> perhaps<00:53:13.900> isn't<00:53:14.320> can<00:53:14.560> anyone 00:53:14.790 --> 00:53:14.800 align:start position:0% questions perhaps isn't can anyone 00:53:14.800 --> 00:53:17.010 align:start position:0% questions perhaps isn't can anyone please<00:53:15.700> sir<00:53:15.880> could<00:53:16.030> you<00:53:16.060> could<00:53:16.420> you<00:53:16.450> take<00:53:16.870> this 00:53:17.010 --> 00:53:17.020 align:start position:0% please sir could you could you take this 00:53:17.020 --> 00:53:19.250 align:start position:0% please sir could you could you take this to<00:53:17.230> the<00:53:17.260> gentleman<00:53:18.250> over<00:53:18.370> there<00:53:18.460> or<00:53:18.760> ticker 00:53:19.250 --> 00:53:19.260 align:start position:0% to the gentleman over there or ticker 00:53:19.260 --> 00:53:22.830 align:start position:0% to the gentleman over there or ticker sorry<00:53:20.550> we'll<00:53:21.550> take<00:53:21.640> one<00:53:21.850> question<00:53:22.210> I<00:53:22.390> think<00:53:22.420> we 00:53:22.830 --> 00:53:22.840 align:start position:0% sorry we'll take one question I think we 00:53:22.840 --> 00:53:26.760 align:start position:0% sorry we'll take one question I think we run<00:53:22.990> out<00:53:23.110> of<00:53:23.170> time<00:53:23.320> but<00:53:23.650> sir<00:53:23.830> yeah<00:53:25.410> my<00:53:26.410> question 00:53:26.760 --> 00:53:26.770 align:start position:0% run out of time but sir yeah my question 00:53:26.770 --> 00:53:28.710 align:start position:0% run out of time but sir yeah my question is<00:53:26.860> that<00:53:27.100> does<00:53:27.520> this<00:53:27.670> decentralized<00:53:28.180> nature 00:53:28.710 --> 00:53:28.720 align:start position:0% is that does this decentralized nature 00:53:28.720 --> 00:53:32.280 align:start position:0% is that does this decentralized nature of<00:53:29.200> etherium<00:53:29.860> mean<00:53:30.670> that<00:53:31.000> any<00:53:31.300> business<00:53:32.260> that 00:53:32.280 --> 00:53:32.290 align:start position:0% of etherium mean that any business that 00:53:32.290 --> 00:53:34.140 align:start position:0% of etherium mean that any business that stood<00:53:32.770> up<00:53:32.950> with<00:53:33.070> a<00:53:33.130> business<00:53:33.490> model<00:53:33.760> to 00:53:34.140 --> 00:53:34.150 align:start position:0% stood up with a business model to 00:53:34.150 --> 00:53:36.360 align:start position:0% stood up with a business model to facilitate<00:53:35.020> the<00:53:35.170> interaction<00:53:35.770> between<00:53:35.800> two 00:53:36.360 --> 00:53:36.370 align:start position:0% facilitate the interaction between two 00:53:36.370 --> 00:53:39.810 align:start position:0% facilitate the interaction between two parties<00:53:37.120> will<00:53:37.810> eventually<00:53:38.410> be<00:53:38.590> driven<00:53:38.950> by 00:53:39.810 --> 00:53:39.820 align:start position:0% parties will eventually be driven by 00:53:39.820 --> 00:53:42.140 align:start position:0% parties will eventually be driven by competitive<00:53:40.360> forces<00:53:40.690> to<00:53:41.440> a<00:53:41.470> point<00:53:41.860> where 00:53:42.140 --> 00:53:42.150 align:start position:0% competitive forces to a point where 00:53:42.150 --> 00:53:44.430 align:start position:0% competitive forces to a point where essentially<00:53:43.150> the<00:53:43.360> profits<00:53:43.750> approached<00:53:44.080> zero 00:53:44.430 --> 00:53:44.440 align:start position:0% essentially the profits approached zero 00:53:44.440 --> 00:53:45.770 align:start position:0% essentially the profits approached zero over<00:53:44.920> time 00:53:45.770 --> 00:53:45.780 align:start position:0% over time 00:53:45.780 --> 00:53:50.120 align:start position:0% over time I<00:53:45.870> race<00:53:46.740> 20<00:53:47.100> go<00:53:47.700> ahead<00:53:47.880> um<00:53:48.570> so<00:53:48.960> I<00:53:48.990> the<00:53:49.770> response 00:53:50.120 --> 00:53:50.130 align:start position:0% I race 20 go ahead um so I the response 00:53:50.130 --> 00:53:51.890 align:start position:0% I race 20 go ahead um so I the response i<00:53:50.490> give<00:53:50.850> to<00:53:51.030> this<00:53:51.120> usually<00:53:51.480> that<00:53:51.630> there's<00:53:51.780> like 00:53:51.890 --> 00:53:51.900 align:start position:0% i give to this usually that there's like 00:53:51.900 --> 00:53:54.500 align:start position:0% i give to this usually that there's like two<00:53:52.170> types<00:53:52.440> of<00:53:52.620> middlemen<00:53:53.070> and<00:53:53.220> one<00:53:54.180> of<00:53:54.330> that 00:53:54.500 --> 00:53:54.510 align:start position:0% two types of middlemen and one of that 00:53:54.510 --> 00:53:57.050 align:start position:0% two types of middlemen and one of that like<00:53:54.960> basically<00:53:55.740> they<00:53:56.640> can<00:53:56.790> either<00:53:56.880> be 00:53:57.050 --> 00:53:57.060 align:start position:0% like basically they can either be 00:53:57.060 --> 00:53:58.580 align:start position:0% like basically they can either be contributing<00:53:57.510> value<00:53:57.810> by<00:53:58.110> basically<00:53:58.440> doing 00:53:58.580 --> 00:53:58.590 align:start position:0% contributing value by basically doing 00:53:58.590 --> 00:54:00.290 align:start position:0% contributing value by basically doing research<00:53:59.010> so<00:53:59.400> basically<00:53:59.760> so<00:54:00.030> a<00:54:00.060> good<00:54:00.240> example 00:54:00.290 --> 00:54:00.300 align:start position:0% research so basically so a good example 00:54:00.300 --> 00:54:02.330 align:start position:0% research so basically so a good example is<00:54:00.750> like<00:54:00.930> how<00:54:01.230> credit<00:54:01.590> works<00:54:01.620> I<00:54:01.950> don't<00:54:02.160> think 00:54:02.330 --> 00:54:02.340 align:start position:0% is like how credit works I don't think 00:54:02.340 --> 00:54:04.370 align:start position:0% is like how credit works I don't think normal<00:54:03.120> credit<00:54:03.270> like<00:54:03.630> on<00:54:03.870> collateralized 00:54:04.370 --> 00:54:04.380 align:start position:0% normal credit like on collateralized 00:54:04.380 --> 00:54:05.720 align:start position:0% normal credit like on collateralized credit<00:54:04.740> it's<00:54:04.890> going<00:54:05.130> add<00:54:05.280> to<00:54:05.460> that<00:54:05.490> the<00:54:05.610> fact 00:54:05.720 --> 00:54:05.730 align:start position:0% credit it's going add to that the fact 00:54:05.730 --> 00:54:08.300 align:start position:0% credit it's going add to that the fact that<00:54:06.030> the<00:54:06.360> code<00:54:07.260> for<00:54:07.560> example<00:54:08.010> if<00:54:08.070> you<00:54:08.130> have<00:54:08.160> an 00:54:08.300 --> 00:54:08.310 align:start position:0% that the code for example if you have an 00:54:08.310 --> 00:54:10.670 align:start position:0% that the code for example if you have an algorithm<00:54:08.670> or<00:54:09.000> anything<00:54:09.360> that<00:54:09.390> is<00:54:09.810> powering 00:54:10.670 --> 00:54:10.680 align:start position:0% algorithm or anything that is powering 00:54:10.680 --> 00:54:13.070 align:start position:0% algorithm or anything that is powering your<00:54:10.770> contract<00:54:11.340> is<00:54:11.430> open<00:54:11.850> so<00:54:12.150> yeah<00:54:12.600> reality 00:54:13.070 --> 00:54:13.080 align:start position:0% your contract is open so yeah reality 00:54:13.080 --> 00:54:14.780 align:start position:0% your contract is open so yeah reality out<00:54:13.200> someone<00:54:13.560> can<00:54:13.680> take<00:54:13.830> you<00:54:13.980> whatever<00:54:14.580> it<00:54:14.700> is 00:54:14.780 --> 00:54:14.790 align:start position:0% out someone can take you whatever it is 00:54:14.790 --> 00:54:16.550 align:start position:0% out someone can take you whatever it is that<00:54:14.910> you<00:54:15.000> come<00:54:15.180> up<00:54:15.330> with<00:54:15.540> and<00:54:15.780> so<00:54:16.290> it<00:54:16.410> just 00:54:16.550 --> 00:54:16.560 align:start position:0% that you come up with and so it just 00:54:16.560 --> 00:54:17.750 align:start position:0% that you come up with and so it just depends<00:54:16.800> on<00:54:16.950> whether<00:54:17.130> the<00:54:17.190> middleman<00:54:17.550> is<00:54:17.730> a 00:54:17.750 --> 00:54:17.760 align:start position:0% depends on whether the middleman is a 00:54:17.760 --> 00:54:18.860 align:start position:0% depends on whether the middleman is a real<00:54:17.940> middleman<00:54:18.330> or<00:54:18.510> if<00:54:18.600> he's<00:54:18.720> actually 00:54:18.860 --> 00:54:18.870 align:start position:0% real middleman or if he's actually 00:54:18.870 --> 00:54:20.450 align:start position:0% real middleman or if he's actually contributing<00:54:19.500> some<00:54:19.710> value<00:54:20.010> and<00:54:20.250> you'd<00:54:20.370> be 00:54:20.450 --> 00:54:20.460 align:start position:0% contributing some value and you'd be 00:54:20.460 --> 00:54:22.250 align:start position:0% contributing some value and you'd be surprised<00:54:20.820> by<00:54:21.000> like<00:54:21.180> how<00:54:21.330> many<00:54:21.390> just 00:54:22.250 --> 00:54:22.260 align:start position:0% surprised by like how many just 00:54:22.260 --> 00:54:24.230 align:start position:0% surprised by like how many just middlemen<00:54:22.650> are<00:54:22.710> actually<00:54:23.250> you<00:54:24.000> know<00:54:24.090> they're 00:54:24.230 --> 00:54:24.240 align:start position:0% middlemen are actually you know they're 00:54:24.240 --> 00:54:25.880 align:start position:0% middlemen are actually you know they're making<00:54:24.270> your<00:54:24.690> transactions<00:54:25.380> more<00:54:25.530> efficient 00:54:25.880 --> 00:54:25.890 align:start position:0% making your transactions more efficient 00:54:25.890 --> 00:54:28.910 align:start position:0% making your transactions more efficient by<00:54:25.950> being<00:54:26.250> there<00:54:26.370> I<00:54:27.500> guess<00:54:28.500> I<00:54:28.590> was<00:54:28.710> getting 00:54:28.910 --> 00:54:28.920 align:start position:0% by being there I guess I was getting 00:54:28.920 --> 00:54:30.200 align:start position:0% by being there I guess I was getting like<00:54:29.010> the<00:54:29.160> feedback<00:54:29.550> of<00:54:29.580> like<00:54:30.030> each 00:54:30.200 --> 00:54:30.210 align:start position:0% like the feedback of like each 00:54:30.210 --> 00:54:33.410 align:start position:0% like the feedback of like each individual<00:54:30.720> team<00:54:30.930> member<00:54:31.230> you<00:54:31.410> don't<00:54:32.100> mind<00:54:32.420> so 00:54:33.410 --> 00:54:33.420 align:start position:0% individual team member you don't mind so 00:54:33.420 --> 00:54:35.510 align:start position:0% individual team member you don't mind so I<00:54:33.720> need<00:54:34.080> I<00:54:34.230> need<00:54:34.260> to<00:54:34.620> do<00:54:34.860> to<00:54:34.890> understand 00:54:35.510 --> 00:54:35.520 align:start position:0% I need I need to do to understand 00:54:35.520 --> 00:54:37.550 align:start position:0% I need I need to do to understand question<00:54:35.940> but<00:54:36.090> if<00:54:36.330> you<00:54:36.420> can<00:54:36.600> explain<00:54:36.960> it<00:54:37.200> I 00:54:37.550 --> 00:54:37.560 align:start position:0% question but if you can explain it I 00:54:37.560 --> 00:54:40.430 align:start position:0% question but if you can explain it I guess<00:54:38.430> what<00:54:38.580> I<00:54:38.610> said<00:54:38.850> is<00:54:39.000> that<00:54:39.150> because<00:54:39.540> xperia 00:54:40.430 --> 00:54:40.440 align:start position:0% guess what I said is that because xperia 00:54:40.440 --> 00:54:42.920 align:start position:0% guess what I said is that because xperia ms<00:54:40.590> decentralized<00:54:41.280> over<00:54:41.910> time<00:54:42.300> as<00:54:42.600> you<00:54:42.750> build 00:54:42.920 --> 00:54:42.930 align:start position:0% ms decentralized over time as you build 00:54:42.930 --> 00:54:45.260 align:start position:0% ms decentralized over time as you build services<00:54:43.230> that<00:54:43.770> merely<00:54:44.400> facilitate<00:54:45.120> the 00:54:45.260 --> 00:54:45.270 align:start position:0% services that merely facilitate the 00:54:45.270 --> 00:54:48.350 align:start position:0% services that merely facilitate the interaction<00:54:45.900> between<00:54:46.310> two<00:54:47.310> parties<00:54:47.730> that 00:54:48.350 --> 00:54:48.360 align:start position:0% interaction between two parties that 00:54:48.360 --> 00:54:51.320 align:start position:0% interaction between two parties that over<00:54:48.840> time<00:54:49.050> other<00:54:49.470> people<00:54:49.950> would<00:54:50.070> join<00:54:50.730> in<00:54:51.060> to 00:54:51.320 --> 00:54:51.330 align:start position:0% over time other people would join in to 00:54:51.330 --> 00:54:52.910 align:start position:0% over time other people would join in to provide<00:54:51.570> that<00:54:51.720> same<00:54:51.960> service<00:54:52.380> a<00:54:52.410> little<00:54:52.740> club 00:54:52.910 --> 00:54:52.920 align:start position:0% provide that same service a little club 00:54:52.920 --> 00:54:58.550 align:start position:0% provide that same service a little club you<00:54:53.070> this<00:54:53.670> is<00:54:53.820> this<00:54:54.090> is<00:54:54.240> essentially<00:54:57.290> as<00:54:58.290> many 00:54:58.550 --> 00:54:58.560 align:start position:0% you this is this is essentially as many 00:54:58.560 --> 00:55:02.510 align:start position:0% you this is this is essentially as many as<00:54:59.370> many<00:54:59.790> people<00:55:00.210> to<00:55:00.420> run<00:55:00.630> a<00:55:01.130> it<00:55:02.130> doesn't<00:55:02.400> mean 00:55:02.510 --> 00:55:02.520 align:start position:0% as many people to run a it doesn't mean 00:55:02.520 --> 00:55:03.560 align:start position:0% as many people to run a it doesn't mean that<00:55:02.550> companies<00:55:03.030> go<00:55:03.180> out<00:55:03.270> of<00:55:03.390> business 00:55:03.560 --> 00:55:03.570 align:start position:0% that companies go out of business 00:55:03.570 --> 00:55:05.810 align:start position:0% that companies go out of business because<00:55:03.960> there's<00:55:04.470> like<00:55:04.710> lower<00:55:05.460> and<00:55:05.700> lower 00:55:05.810 --> 00:55:05.820 align:start position:0% because there's like lower and lower 00:55:05.820 --> 00:55:07.580 align:start position:0% because there's like lower and lower transaction<00:55:06.390> costs<00:55:06.810> it<00:55:06.990> just<00:55:07.140> means<00:55:07.290> that<00:55:07.410> it 00:55:07.580 --> 00:55:07.590 align:start position:0% transaction costs it just means that it 00:55:07.590 --> 00:55:09.530 align:start position:0% transaction costs it just means that it takes<00:55:07.800> fewer<00:55:08.160> and<00:55:08.430> fewer<00:55:08.610> people<00:55:09.120> to<00:55:09.300> run 00:55:09.530 --> 00:55:09.540 align:start position:0% takes fewer and fewer people to run 00:55:09.540 --> 00:55:12.800 align:start position:0% takes fewer and fewer people to run giant<00:55:10.290> giant<00:55:10.620> things<00:55:11.160> that<00:55:11.850> that<00:55:12.240> like<00:55:12.600> I 00:55:12.800 --> 00:55:12.810 align:start position:0% giant giant things that that like I 00:55:12.810 --> 00:55:14.390 align:start position:0% giant giant things that that like I don't<00:55:13.020> know<00:55:13.110> if<00:55:13.170> you<00:55:13.260> think<00:55:13.440> of<00:55:13.560> a<00:55:13.650> company<00:55:14.250> as 00:55:14.390 --> 00:55:14.400 align:start position:0% don't know if you think of a company as 00:55:14.400 --> 00:55:16.670 align:start position:0% don't know if you think of a company as a<00:55:14.430> pyramid<00:55:15.030> in<00:55:15.180> the<00:55:15.210> more<00:55:15.540> area<00:55:15.930> under<00:55:16.320> it<00:55:16.470> the 00:55:16.670 --> 00:55:16.680 align:start position:0% a pyramid in the more area under it the 00:55:16.680 --> 00:55:18.680 align:start position:0% a pyramid in the more area under it the more<00:55:16.950> people<00:55:17.520> there<00:55:17.670> are<00:55:17.730> built<00:55:18.150> up<00:55:18.360> in<00:55:18.510> there 00:55:18.680 --> 00:55:18.690 align:start position:0% more people there are built up in there 00:55:18.690 --> 00:55:20.600 align:start position:0% more people there are built up in there is<00:55:18.870> that<00:55:19.410> any<00:55:19.650> theory<00:55:19.920> and<00:55:20.100> that<00:55:20.250> can<00:55:20.400> get<00:55:20.490> like 00:55:20.600 --> 00:55:20.610 align:start position:0% is that any theory and that can get like 00:55:20.610 --> 00:55:23.600 align:start position:0% is that any theory and that can get like a<00:55:20.670> lot<00:55:21.000> lower<00:55:21.630> and<00:55:22.080> a<00:55:22.380> lot<00:55:22.740> fewer<00:55:23.100> people 00:55:23.600 --> 00:55:23.610 align:start position:0% a lot lower and a lot fewer people 00:55:23.610 --> 00:55:26.210 align:start position:0% a lot lower and a lot fewer people involved<00:55:23.970> and<00:55:24.300> so<00:55:24.810> well<00:55:25.440> the<00:55:25.590> transaction 00:55:26.210 --> 00:55:26.220 align:start position:0% involved and so well the transaction 00:55:26.220 --> 00:55:28.610 align:start position:0% involved and so well the transaction costs<00:55:27.150> got<00:55:27.330> lower<00:55:27.690> and<00:55:27.870> lower<00:55:28.140> and<00:55:28.380> lower 00:55:28.610 --> 00:55:28.620 align:start position:0% costs got lower and lower and lower 00:55:28.620 --> 00:55:31.790 align:start position:0% costs got lower and lower and lower there's<00:55:29.280> still<00:55:29.610> some<00:55:29.940> level<00:55:30.330> of<00:55:30.540> I<00:55:30.960> will<00:55:31.440> pull 00:55:31.790 --> 00:55:31.800 align:start position:0% there's still some level of I will pull 00:55:31.800 --> 00:55:33.950 align:start position:0% there's still some level of I will pull in<00:55:31.980> enough<00:55:32.130> off<00:55:32.490> of<00:55:32.670> the<00:55:32.850> service<00:55:33.270> to<00:55:33.450> pay<00:55:33.660> for 00:55:33.950 --> 00:55:33.960 align:start position:0% in enough off of the service to pay for 00:55:33.960 --> 00:55:35.930 align:start position:0% in enough off of the service to pay for the<00:55:34.260> continued<00:55:35.070> development<00:55:35.130> and 00:55:35.930 --> 00:55:35.940 align:start position:0% the continued development and 00:55:35.940 --> 00:55:38.480 align:start position:0% the continued development and improvement<00:55:36.630> of<00:55:37.020> it<00:55:37.200> so<00:55:37.740> it<00:55:37.980> doesn't<00:55:38.010> mean<00:55:38.370> it 00:55:38.480 --> 00:55:38.490 align:start position:0% improvement of it so it doesn't mean it 00:55:38.490 --> 00:55:40.610 align:start position:0% improvement of it so it doesn't mean it goes<00:55:38.610> out<00:55:38.760> of<00:55:38.790> business<00:55:39.000> it<00:55:39.450> might<00:55:40.020> mean<00:55:40.260> that 00:55:40.610 --> 00:55:40.620 align:start position:0% goes out of business it might mean that 00:55:40.620 --> 00:55:43.490 align:start position:0% goes out of business it might mean that we<00:55:40.980> see<00:55:41.220> much<00:55:41.520> smaller<00:55:42.030> entities<00:55:42.540> despite 00:55:43.490 --> 00:55:43.500 align:start position:0% we see much smaller entities despite 00:55:43.500 --> 00:55:48.170 align:start position:0% we see much smaller entities despite doing<00:55:43.950> huge<00:55:44.490> things<00:55:46.370> Joseph<00:55:47.370> you'll<00:55:47.910> see<00:55:48.060> more 00:55:48.170 --> 00:55:48.180 align:start position:0% doing huge things Joseph you'll see more 00:55:48.180 --> 00:55:49.970 align:start position:0% doing huge things Joseph you'll see more like<00:55:48.240> more<00:55:49.050> companies<00:55:49.440> while<00:55:49.560> choosing<00:55:49.770> to 00:55:49.970 --> 00:55:49.980 align:start position:0% like more companies while choosing to 00:55:49.980 --> 00:55:53.480 align:start position:0% like more companies while choosing to become<00:55:50.100> more<00:55:50.670> profitable<00:55:50.910> by<00:55:51.240> shrinking<00:55:52.490> so 00:55:53.480 --> 00:55:53.490 align:start position:0% become more profitable by shrinking so 00:55:53.490 --> 00:55:56.390 align:start position:0% become more profitable by shrinking so building<00:55:54.150> 492<00:55:54.870> points<00:55:55.080> that<00:55:55.500> Nikolai<00:55:56.250> and 00:55:56.390 --> 00:55:56.400 align:start position:0% building 492 points that Nikolai and 00:55:56.400 --> 00:55:57.190 align:start position:0% building 492 points that Nikolai and Piper 00:55:57.190 --> 00:55:57.200 align:start position:0% Piper 00:55:57.200 --> 00:56:00.760 align:start position:0% Piper mentioned<00:55:57.560> i<00:55:57.910> think<00:55:58.910> my<00:55:59.540> economic<00:56:00.050> intuition 00:56:00.760 --> 00:56:00.770 align:start position:0% mentioned i think my economic intuition 00:56:00.770 --> 00:56:03.730 align:start position:0% mentioned i think my economic intuition is<00:56:00.950> that<00:56:01.220> it's<00:56:01.609> going<00:56:01.970> to<00:56:02.180> if<00:56:03.170> you<00:56:03.530> want<00:56:03.680> a 00:56:03.730 --> 00:56:03.740 align:start position:0% is that it's going to if you want a 00:56:03.740 --> 00:56:05.290 align:start position:0% is that it's going to if you want a single<00:56:04.160> number<00:56:04.400> it's<00:56:04.609> not<00:56:04.730> going<00:56:04.849> to<00:56:04.940> be<00:56:05.000> zero 00:56:05.290 --> 00:56:05.300 align:start position:0% single number it's not going to be zero 00:56:05.300 --> 00:56:07.990 align:start position:0% single number it's not going to be zero I<00:56:05.570> think<00:56:05.930> that<00:56:06.200> the<00:56:07.099> number<00:56:07.430> that<00:56:07.579> it's<00:56:07.730> going 00:56:07.990 --> 00:56:08.000 align:start position:0% I think that the number that it's going 00:56:08.000 --> 00:56:11.079 align:start position:0% I think that the number that it's going to<00:56:08.150> reach<00:56:08.300> is<00:56:08.510> going<00:56:08.780> to<00:56:08.839> be<00:56:08.930> like<00:56:09.160> the<00:56:10.160> the<00:56:10.820> gas 00:56:11.079 --> 00:56:11.089 align:start position:0% to reach is going to be like the the gas 00:56:11.089 --> 00:56:13.960 align:start position:0% to reach is going to be like the the gas cost<00:56:11.480> times<00:56:12.020> the<00:56:12.230> gas<00:56:12.440> price<00:56:12.770> and<00:56:13.099> the<00:56:13.790> gas 00:56:13.960 --> 00:56:13.970 align:start position:0% cost times the gas price and the gas 00:56:13.970 --> 00:56:18.420 align:start position:0% cost times the gas price and the gas cost<00:56:14.300> is<00:56:14.660> of<00:56:14.869> the<00:56:15.320> person<00:56:15.770> who<00:56:16.040> is<00:56:16.160> helping<00:56:17.150> the 00:56:18.420 --> 00:56:18.430 align:start position:0% cost is of the person who is helping the 00:56:18.430 --> 00:56:22.180 align:start position:0% cost is of the person who is helping the blockchain<00:56:19.430> service<00:56:20.320> so<00:56:21.320> in<00:56:21.650> the<00:56:21.740> case<00:56:21.859> of<00:56:21.920> the 00:56:22.180 --> 00:56:22.190 align:start position:0% blockchain service so in the case of the 00:56:22.190 --> 00:56:25.120 align:start position:0% blockchain service so in the case of the alarm<00:56:22.430> clock<00:56:22.720> so<00:56:23.720> whoever<00:56:23.960> triggers<00:56:24.800> the 00:56:25.120 --> 00:56:25.130 align:start position:0% alarm clock so whoever triggers the 00:56:25.130 --> 00:56:28.690 align:start position:0% alarm clock so whoever triggers the alarm<00:56:25.700> call<00:56:26.710> they<00:56:27.710> have<00:56:27.800> a<00:56:27.859> certain<00:56:28.160> gas<00:56:28.369> costs 00:56:28.690 --> 00:56:28.700 align:start position:0% alarm call they have a certain gas costs 00:56:28.700 --> 00:56:31.930 align:start position:0% alarm call they have a certain gas costs and<00:56:28.970> the<00:56:29.270> gas<00:56:29.660> price<00:56:29.930> and<00:56:30.430> so<00:56:31.430> unless<00:56:31.730> they're 00:56:31.930 --> 00:56:31.940 align:start position:0% and the gas price and so unless they're 00:56:31.940 --> 00:56:33.310 align:start position:0% and the gas price and so unless they're really<00:56:32.150> providing<00:56:32.540> any<00:56:32.660> value<00:56:32.960> in<00:56:33.020> the<00:56:33.109> middle 00:56:33.310 --> 00:56:33.320 align:start position:0% really providing any value in the middle 00:56:33.320 --> 00:56:35.200 align:start position:0% really providing any value in the middle things<00:56:34.010> look<00:56:34.430> like<00:56:34.460> they're<00:56:34.760> going<00:56:34.910> to<00:56:35.000> drive 00:56:35.200 --> 00:56:35.210 align:start position:0% things look like they're going to drive 00:56:35.210 --> 00:56:37.440 align:start position:0% things look like they're going to drive to<00:56:35.390> that<00:56:35.540> limit<00:56:35.750> and<00:56:35.990> in<00:56:36.440> in<00:56:36.650> the<00:56:36.800> real<00:56:36.950> a<00:56:37.070> case 00:56:37.440 --> 00:56:37.450 align:start position:0% to that limit and in in the real a case 00:56:37.450 --> 00:56:39.609 align:start position:0% to that limit and in in the real a case that<00:56:38.450> is<00:56:38.599> going<00:56:38.839> to<00:56:38.930> be<00:56:38.990> the<00:56:39.170> cost<00:56:39.380> of 00:56:39.609 --> 00:56:39.619 align:start position:0% that is going to be the cost of 00:56:39.619 --> 00:56:42.839 align:start position:0% that is going to be the cost of submitting<00:56:39.890> a<00:56:40.130> block<00:56:40.430> header<00:56:40.640> to<00:56:41.300> BTC<00:56:42.020> relay 00:56:42.839 --> 00:56:42.849 align:start position:0% submitting a block header to BTC relay 00:56:42.849 --> 00:56:45.880 align:start position:0% submitting a block header to BTC relay so<00:56:43.849> I<00:56:44.359> think<00:56:44.839> there's<00:56:45.109> always<00:56:45.320> a<00:56:45.349> cost<00:56:45.560> to<00:56:45.770> it 00:56:45.880 --> 00:56:45.890 align:start position:0% so I think there's always a cost to it 00:56:45.890 --> 00:56:51.190 align:start position:0% so I think there's always a cost to it but<00:56:46.460> it'll<00:56:46.730> come<00:56:47.150> down<00:56:47.210> to<00:56:47.359> that<00:56:49.660> yeah<00:56:50.660> so<00:56:51.020> I 00:56:51.190 --> 00:56:51.200 align:start position:0% but it'll come down to that yeah so I 00:56:51.200 --> 00:56:53.680 align:start position:0% but it'll come down to that yeah so I just<00:56:51.440> want<00:56:51.800> to<00:56:51.859> be<00:56:51.980> sure<00:56:52.099> the<00:56:52.820> question<00:56:53.150> was<00:56:53.390> if 00:56:53.680 --> 00:56:53.690 align:start position:0% just want to be sure the question was if 00:56:53.690 --> 00:56:55.300 align:start position:0% just want to be sure the question was if I'm<00:56:53.990> going<00:56:54.200> to<00:56:54.380> be<00:56:54.500> successful<00:56:54.829> on<00:56:55.160> the 00:56:55.300 --> 00:56:55.310 align:start position:0% I'm going to be successful on the 00:56:55.310 --> 00:56:57.040 align:start position:0% I'm going to be successful on the blockchain<00:56:55.579> somebody<00:56:56.270> will<00:56:56.390> come<00:56:56.570> and<00:56:56.630> clone 00:56:57.040 --> 00:56:57.050 align:start position:0% blockchain somebody will come and clone 00:56:57.050 --> 00:56:59.319 align:start position:0% blockchain somebody will come and clone it<00:56:57.079> because<00:56:57.800> it's<00:56:57.950> all<00:56:58.070> open<00:56:58.220> and<00:56:58.550> and<00:56:58.910> we'll 00:56:59.319 --> 00:56:59.329 align:start position:0% it because it's all open and and we'll 00:56:59.329 --> 00:57:01.180 align:start position:0% it because it's all open and and we'll try<00:56:59.540> to<00:56:59.599> kick<00:57:00.290> me<00:57:00.440> out<00:57:00.530> of<00:57:00.589> the<00:57:00.710> business<00:57:00.920> right 00:57:01.180 --> 00:57:01.190 align:start position:0% try to kick me out of the business right 00:57:01.190 --> 00:57:03.670 align:start position:0% try to kick me out of the business right this<00:57:01.400> question<00:57:02.180> I<00:57:02.359> guess<00:57:03.020> what<00:57:03.200> it<00:57:03.290> is<00:57:03.380> is<00:57:03.560> if 00:57:03.670 --> 00:57:03.680 align:start position:0% this question I guess what it is is if 00:57:03.680 --> 00:57:05.319 align:start position:0% this question I guess what it is is if somebody<00:57:03.890> puts<00:57:04.460> in<00:57:04.640> the<00:57:04.760> time<00:57:04.970> to<00:57:05.150> come<00:57:05.180> up 00:57:05.319 --> 00:57:05.329 align:start position:0% somebody puts in the time to come up 00:57:05.329 --> 00:57:08.530 align:start position:0% somebody puts in the time to come up with<00:57:05.450> some<00:57:06.290> sort<00:57:06.530> of<00:57:06.619> mechanism<00:57:07.490> to<00:57:08.000> facility 00:57:08.530 --> 00:57:08.540 align:start position:0% with some sort of mechanism to facility 00:57:08.540 --> 00:57:10.300 align:start position:0% with some sort of mechanism to facility a<00:57:08.569> service<00:57:08.869> i<00:57:08.960> think<00:57:09.140> we<00:57:09.200> example<00:57:09.530> risk<00:57:09.829> if<00:57:10.190> I 00:57:10.300 --> 00:57:10.310 align:start position:0% a service i think we example risk if I 00:57:10.310 --> 00:57:12.370 align:start position:0% a service i think we example risk if I want<00:57:10.460> to<00:57:10.550> have<00:57:10.940> a<00:57:11.000> model<00:57:11.390> to<00:57:11.540> assess<00:57:11.810> risk<00:57:12.109> and 00:57:12.370 --> 00:57:12.380 align:start position:0% want to have a model to assess risk and 00:57:12.380 --> 00:57:14.770 align:start position:0% want to have a model to assess risk and I<00:57:13.010> put<00:57:13.220> that<00:57:13.250> model<00:57:13.760> on<00:57:13.940> how<00:57:14.210> to<00:57:14.270> assess<00:57:14.510> risk 00:57:14.770 --> 00:57:14.780 align:start position:0% I put that model on how to assess risk 00:57:14.780 --> 00:57:16.839 align:start position:0% I put that model on how to assess risk on<00:57:14.930> the<00:57:15.050> blockchain<00:57:15.290> and<00:57:15.740> that<00:57:16.520> is<00:57:16.730> my 00:57:16.839 --> 00:57:16.849 align:start position:0% on the blockchain and that is my 00:57:16.849 --> 00:57:19.030 align:start position:0% on the blockchain and that is my competitive<00:57:17.420> offering<00:57:18.200> quote<00:57:18.380> unquote<00:57:18.530> in 00:57:19.030 --> 00:57:19.040 align:start position:0% competitive offering quote unquote in 00:57:19.040 --> 00:57:20.740 align:start position:0% competitive offering quote unquote in the<00:57:19.220> case<00:57:19.369> of<00:57:19.400> example<00:57:19.819> of<00:57:19.880> a<00:57:19.910> bank<00:57:20.150> or<00:57:20.450> are 00:57:20.740 --> 00:57:20.750 align:start position:0% the case of example of a bank or are 00:57:20.750 --> 00:57:23.410 align:start position:0% the case of example of a bank or are some<00:57:21.530> sort<00:57:21.680> of<00:57:21.740> a<00:57:21.800> creditor<00:57:22.190> and<00:57:22.420> that 00:57:23.410 --> 00:57:23.420 align:start position:0% some sort of a creditor and that 00:57:23.420 --> 00:57:26.109 align:start position:0% some sort of a creditor and that exposure<00:57:23.839> in<00:57:24.050> itself<00:57:24.380> means<00:57:24.829> that<00:57:25.099> my<00:57:25.579> value 00:57:26.109 --> 00:57:26.119 align:start position:0% exposure in itself means that my value 00:57:26.119 --> 00:57:31.630 align:start position:0% exposure in itself means that my value add<00:57:26.359> is<00:57:26.780> that<00:57:26.839> algorithm<00:57:27.650> and<00:57:29.770> yeah<00:57:30.770> I<00:57:30.800> think<00:57:31.220> I 00:57:31.630 --> 00:57:31.640 align:start position:0% add is that algorithm and yeah I think I 00:57:31.640 --> 00:57:33.460 align:start position:0% add is that algorithm and yeah I think I think<00:57:32.119> there<00:57:32.540> is<00:57:32.569> a<00:57:32.690> big<00:57:32.869> more<00:57:33.050> better<00:57:33.349> than 00:57:33.460 --> 00:57:33.470 align:start position:0% think there is a big more better than 00:57:33.470 --> 00:57:35.740 align:start position:0% think there is a big more better than Scott<00:57:34.280> last<00:57:34.819> sentence<00:57:35.180> we<00:57:35.329> gotta<00:57:35.450> finish<00:57:35.569> up 00:57:35.740 --> 00:57:35.750 align:start position:0% Scott last sentence we gotta finish up 00:57:35.750 --> 00:57:37.660 align:start position:0% Scott last sentence we gotta finish up to<00:57:35.869> this<00:57:35.960> so<00:57:36.560> i<00:57:36.589> already<00:57:36.950> cut<00:57:37.190> your<00:57:37.339> food<00:57:37.460> okay 00:57:37.660 --> 00:57:37.670 align:start position:0% to this so i already cut your food okay 00:57:37.670 --> 00:57:40.450 align:start position:0% to this so i already cut your food okay i<00:57:37.700> think<00:57:38.030> there<00:57:38.300> is<00:57:38.390> more<00:57:38.660> than<00:57:38.839> one<00:57:38.900> then<00:57:39.890> they 00:57:40.450 --> 00:57:40.460 align:start position:0% i think there is more than one then they 00:57:40.460 --> 00:57:42.790 align:start position:0% i think there is more than one then they caught<00:57:40.700> part<00:57:41.300> of<00:57:41.450> the<00:57:41.569> business<00:57:41.720> I<00:57:42.079> think<00:57:42.589> over 00:57:42.790 --> 00:57:42.800 align:start position:0% caught part of the business I think over 00:57:42.800 --> 00:57:45.309 align:start position:0% caught part of the business I think over time<00:57:42.829> you<00:57:43.160> build<00:57:43.190> your<00:57:43.460> name<00:57:43.730> so<00:57:44.660> it's<00:57:45.020> kind<00:57:45.230> of 00:57:45.309 --> 00:57:45.319 align:start position:0% time you build your name so it's kind of 00:57:45.319 --> 00:57:46.540 align:start position:0% time you build your name so it's kind of what's<00:57:45.500> proven<00:57:45.890> on<00:57:46.010> the<00:57:46.130> internet<00:57:46.520> right 00:57:46.540 --> 00:57:46.550 align:start position:0% what's proven on the internet right 00:57:46.550 --> 00:57:49.180 align:start position:0% what's proven on the internet right people<00:57:47.300> trying<00:57:47.540> to<00:57:47.630> copy<00:57:47.990> over<00:57:48.160> people<00:57:49.160> trying 00:57:49.180 --> 00:57:49.190 align:start position:0% people trying to copy over people trying 00:57:49.190 --> 00:57:52.809 align:start position:0% people trying to copy over people trying to<00:57:49.460> copy<00:57:50.260> Airbnb<00:57:51.260> actually<00:57:51.859> every<00:57:52.280> successful 00:57:52.809 --> 00:57:52.819 align:start position:0% to copy Airbnb actually every successful 00:57:52.819 --> 00:57:57.040 align:start position:0% to copy Airbnb actually every successful service<00:57:53.980> the<00:57:54.980> success<00:57:55.460> wasn't<00:57:55.760> so<00:57:56.180> big<00:57:56.420> so 00:57:57.040 --> 00:57:57.050 align:start position:0% service the success wasn't so big so 00:57:57.050 --> 00:57:59.290 align:start position:0% service the success wasn't so big so it's<00:57:57.589> much<00:57:57.800> more<00:57:57.829> than<00:57:58.280> just<00:57:58.310> a<00:57:58.670> contract<00:57:59.119> it 00:57:59.290 --> 00:57:59.300 align:start position:0% it's much more than just a contract it 00:57:59.300 --> 00:58:01.390 align:start position:0% it's much more than just a contract it just<00:58:00.079> more<00:58:00.290> than<00:58:00.470> transparent<00:58:01.040> contract 00:58:01.390 --> 00:58:01.400 align:start position:0% just more than transparent contract 00:58:01.400 --> 00:58:02.920 align:start position:0% just more than transparent contract because<00:58:01.970> you<00:58:02.089> can<00:58:02.240> don't<00:58:02.420> build<00:58:02.599> trust<00:58:02.839> with 00:58:02.920 --> 00:58:02.930 align:start position:0% because you can don't build trust with 00:58:02.930 --> 00:58:05.410 align:start position:0% because you can don't build trust with your<00:58:03.109> customers<00:58:03.650> so<00:58:04.460> I<00:58:04.490> believe<00:58:05.180> in<00:58:05.300> this 00:58:05.410 --> 00:58:05.420 align:start position:0% your customers so I believe in this 00:58:05.420 --> 00:58:08.380 align:start position:0% your customers so I believe in this model<00:58:05.810> this<00:58:06.109> is<00:58:06.290> like<00:58:06.500> okay<00:58:07.339> try<00:58:07.910> to<00:58:07.970> compete 00:58:08.380 --> 00:58:08.390 align:start position:0% model this is like okay try to compete 00:58:08.390 --> 00:58:09.890 align:start position:0% model this is like okay try to compete now 00:58:09.890 --> 00:58:09.900 align:start position:0% now 00:58:09.900 --> 00:58:12.600 align:start position:0% now great<00:58:10.900> I<00:58:11.170> think<00:58:11.560> we<00:58:12.130> have<00:58:12.160> to<00:58:12.280> leave<00:58:12.490> it<00:58:12.580> there 00:58:12.600 --> 00:58:12.610 align:start position:0% great I think we have to leave it there 00:58:12.610 --> 00:58:15.510 align:start position:0% great I think we have to leave it there unfortunately<00:58:13.000> the<00:58:13.870> builders<00:58:14.320> yes<00:58:14.860> yours<00:58:15.280> one 00:58:15.510 --> 00:58:15.520 align:start position:0% unfortunately the builders yes yours one 00:58:15.520 --> 00:58:18.150 align:start position:0% unfortunately the builders yes yours one thing<00:58:15.550> go<00:58:16.480> to<00:58:16.540> heart<00:58:16.900> attack<00:58:17.260> dog<00:58:17.530> yo<00:58:17.740> Dawg 00:58:18.150 --> 00:58:18.160 align:start position:0% thing go to heart attack dog yo Dawg 00:58:18.160 --> 00:58:22.680 align:start position:0% thing go to heart attack dog yo Dawg camp<00:58:18.540> haha<00:58:19.540> yeah<00:58:20.230> we<00:58:20.410> love<00:58:20.560> them