WEBVTT
Kind: captions
Language: en

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hi<00:00:00.750><c> everyone</c><00:00:00.960><c> today</c><00:00:01.290><c> I'll</c><00:00:01.529><c> be</c><00:00:01.560><c> giving</c><00:00:02.040><c> sort</c><00:00:02.370><c> of</c>

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hi everyone today I'll be giving sort of
 

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hi everyone today I'll be giving sort of
the<00:00:02.699><c> brief</c><00:00:02.909><c> overview</c><00:00:03.120><c> of</c><00:00:03.540><c> this</c>

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the brief overview of this
 

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the brief overview of this
privacy-preserving<00:00:04.950><c> smart</c><00:00:05.790><c> contract</c>

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privacy-preserving smart contract
 

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privacy-preserving smart contract
industry<00:00:06.779><c> it's</c><00:00:07.379><c> sort</c><00:00:07.589><c> of</c><00:00:07.680><c> quite</c><00:00:07.919><c> a</c><00:00:07.950><c> hot</c><00:00:08.190><c> thing</c>

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industry it's sort of quite a hot thing
 

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industry it's sort of quite a hot thing
now<00:00:08.610><c> with</c><00:00:08.820><c> like</c><00:00:09.030><c> companies</c><00:00:09.480><c> like</c><00:00:09.510><c> Oasis</c>

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now with like companies like Oasis
 

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now with like companies like Oasis
raising<00:00:11.130><c> a</c><00:00:11.190><c> lot</c><00:00:11.340><c> of</c><00:00:11.370><c> money</c><00:00:11.490><c> and</c><00:00:12.140><c> sort</c><00:00:13.140><c> of</c><00:00:13.230><c> I'll</c>

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raising a lot of money and sort of I'll
 

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raising a lot of money and sort of I'll
be<00:00:13.560><c> break</c><00:00:13.830><c> down</c><00:00:14.040><c> the</c><00:00:14.340><c> different</c><00:00:14.640><c> approaches</c>

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be break down the different approaches
 

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be break down the different approaches
to<00:00:15.120><c> achieving</c><00:00:15.570><c> this</c><00:00:17.720><c> so</c><00:00:18.720><c> sort</c><00:00:19.439><c> of</c><00:00:19.499><c> the</c><00:00:19.650><c> easiest</c>

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to achieving this so sort of the easiest
 

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to achieving this so sort of the easiest
example<00:00:20.160><c> to</c><00:00:20.669><c> understand</c><00:00:21.089><c> why</c><00:00:21.269><c> this</c><00:00:21.330><c> is</c><00:00:21.720><c> useful</c>

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example to understand why this is useful
 

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example to understand why this is useful
at<00:00:22.410><c> all</c><00:00:22.529><c> is</c><00:00:22.829><c> um</c><00:00:23.699><c> let's</c><00:00:24.419><c> think</c><00:00:24.779><c> of</c><00:00:24.960><c> like</c><00:00:25.140><c> a</c>

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at all is um let's think of like a
 

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at all is um let's think of like a
private<00:00:25.439><c> election</c><00:00:26.099><c> smart</c><00:00:26.400><c> contract</c><00:00:27.320><c> we</c><00:00:28.320><c> all</c>

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private election smart contract we all
 

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private election smart contract we all
want<00:00:28.619><c> to</c><00:00:28.740><c> vote</c><00:00:28.769><c> and</c><00:00:29.249><c> the</c><00:00:30.029><c> smart</c><00:00:30.359><c> contract</c><00:00:30.509><c> with</c>

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want to vote and the smart contract with
 

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want to vote and the smart contract with
sort<00:00:31.109><c> of</c><00:00:31.169><c> count</c><00:00:31.589><c> everyone's</c><00:00:31.949><c> votes</c><00:00:32.220><c> and</c><00:00:32.490><c> give</c>

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sort of count everyone's votes and give
 

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sort of count everyone's votes and give
like<00:00:33.330><c> a</c><00:00:33.360><c> winner</c><00:00:33.630><c> but</c><00:00:34.530><c> as</c><00:00:35.040><c> you</c><00:00:35.280><c> can</c><00:00:35.430><c> see</c><00:00:35.580><c> in</c><00:00:35.670><c> this</c>

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like a winner but as you can see in this
 

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like a winner but as you can see in this
example<00:00:36.170><c> let's</c><00:00:37.170><c> say</c><00:00:37.350><c> vote</c><00:00:37.590><c> wanted</c><00:00:37.920><c> to</c><00:00:38.070><c> come</c><00:00:38.310><c> in</c>

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example let's say vote wanted to come in
 

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example let's say vote wanted to come in
at<00:00:38.520><c> the</c><00:00:38.610><c> same</c><00:00:38.790><c> time</c><00:00:38.850><c> and</c><00:00:39.330><c> vote</c><00:00:39.840><c> three</c><00:00:40.260><c> comes</c><00:00:40.560><c> in</c>

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at the same time and vote three comes in
 

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at the same time and vote three comes in
at<00:00:40.830><c> like</c><00:00:41.010><c> ten</c><00:00:41.250><c> minutes</c><00:00:41.490><c> later</c><00:00:41.670><c> the</c><00:00:42.110><c> third</c><00:00:43.110><c> vote</c>

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at like ten minutes later the third vote
 

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at like ten minutes later the third vote
can<00:00:43.680><c> actually</c><00:00:43.980><c> see</c><00:00:44.250><c> what</c><00:00:44.820><c> that</c><00:00:44.970><c> is</c><00:00:45.120><c> people</c><00:00:45.270><c> I</c>

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can actually see what that is people I
 

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can actually see what that is people I
vote<00:00:45.660><c> at</c><00:00:45.780><c> first</c><00:00:46.050><c> they</c><00:00:46.860><c> can</c><00:00:47.010><c> sort</c><00:00:47.250><c> of</c><00:00:47.310><c> decide</c><00:00:47.760><c> oh</c>

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vote at first they can sort of decide oh
 

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vote at first they can sort of decide oh
it's<00:00:48.840><c> 5050</c><00:00:49.470><c> right</c><00:00:49.500><c> now</c><00:00:49.770><c> so</c><00:00:50.070><c> now</c><00:00:50.190><c> if</c><00:00:50.400><c> I</c><00:00:50.520><c> vote</c><00:00:50.790><c> I</c>

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it's 5050 right now so now if I vote I
 

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it's 5050 right now so now if I vote I
can<00:00:51.510><c> actually</c><00:00:51.780><c> push</c><00:00:51.990><c> it</c><00:00:52.200><c> the</c><00:00:52.830><c> result</c><00:00:53.160><c> in</c>

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can actually push it the result in
 

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can actually push it the result in
whichever<00:00:53.790><c> favor</c><00:00:54.120><c> I</c><00:00:54.270><c> want</c><00:00:55.580><c> which</c><00:00:56.580><c> is</c><00:00:56.700><c> really</c>

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whichever favor I want which is really
 

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whichever favor I want which is really
bad<00:00:57.090><c> so</c><00:00:57.840><c> what</c><00:00:58.800><c> we</c><00:00:58.950><c> want</c><00:00:59.160><c> is</c><00:00:59.280><c> actually</c>

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bad so what we want is actually
 

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bad so what we want is actually
everything<00:01:00.540><c> hidden</c><00:01:00.690><c> all</c><00:01:01.110><c> the</c><00:01:01.350><c> inputs</c><00:01:01.680><c> are</c>

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everything hidden all the inputs are
 

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everything hidden all the inputs are
hidden<00:01:02.010><c> the</c><00:01:02.580><c> state</c><00:01:02.910><c> of</c><00:01:03.090><c> the</c><00:01:03.180><c> smart</c><00:01:03.420><c> contract</c>

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hidden the state of the smart contract
 

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hidden the state of the smart contract
is<00:01:03.930><c> hidden</c><00:01:04.229><c> and</c><00:01:04.549><c> we</c><00:01:05.549><c> can</c><00:01:05.670><c> only</c><00:01:05.850><c> see</c><00:01:06.119><c> the</c><00:01:06.329><c> actual</c>

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is hidden and we can only see the actual
 

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is hidden and we can only see the actual
result<00:01:08.149><c> so</c><00:01:09.149><c> there</c><00:01:09.329><c> are</c><00:01:09.390><c> sort</c><00:01:09.539><c> of</c><00:01:09.570><c> four</c><00:01:09.810><c> ways</c><00:01:09.929><c> of</c>

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result so there are sort of four ways of
 

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result so there are sort of four ways of
doing<00:01:10.229><c> this</c>

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doing this
 

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doing this
the<00:01:11.460><c> first</c><00:01:11.670><c> one</c><00:01:11.850><c> is</c><00:01:11.999><c> homomorphic</c><00:01:12.600><c> encryption</c>

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the first one is homomorphic encryption
 

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the first one is homomorphic encryption
which<00:01:13.829><c> is</c><00:01:13.950><c> sort</c><00:01:14.159><c> of</c><00:01:14.219><c> like</c><00:01:14.310><c> a</c><00:01:14.460><c> pipe</c><00:01:15.090><c> dream</c><00:01:15.299><c> and</c>

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which is sort of like a pipe dream and
 

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which is sort of like a pipe dream and
it's<00:01:15.749><c> really</c><00:01:16.049><c> slow</c><00:01:16.350><c> today</c><00:01:16.560><c> so</c><00:01:16.740><c> it's</c><00:01:17.249><c> not</c>

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it's really slow today so it's not
 

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it's really slow today so it's not
really<00:01:17.609><c> feasible</c><00:01:17.789><c> right</c><00:01:18.240><c> now</c><00:01:18.390><c> and</c><00:01:18.710><c> but</c><00:01:19.710><c> the</c>

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really feasible right now and but the
 

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really feasible right now and but the
three<00:01:20.039><c> ones</c><00:01:20.460><c> are</c><00:01:20.640><c> covered</c><00:01:20.969><c> today</c><00:01:21.090><c> are</c><00:01:21.390><c> trusted</c>

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three ones are covered today are trusted
 

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three ones are covered today are trusted
in<00:01:22.439><c> execution</c><00:01:23.189><c> environments</c><00:01:23.759><c> multi-party</c>

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in execution environments multi-party
 

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in execution environments multi-party
computation<00:01:24.869><c> and</c><00:01:25.319><c> your</c><00:01:25.560><c> knowledge</c><00:01:25.710><c> proofs</c>

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computation and your knowledge proofs
 

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computation and your knowledge proofs
Zucco<00:01:27.630><c> be</c><00:01:27.780><c> really</c><00:01:28.020><c> happy</c><00:01:29.749><c> so</c><00:01:30.749><c> the</c><00:01:31.200><c> first</c><00:01:31.469><c> one</c>

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Zucco be really happy so the first one
 

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Zucco be really happy so the first one
tesr<00:01:32.850><c> sort</c><00:01:33.090><c> of</c><00:01:33.179><c> this</c><00:01:33.659><c> idea</c><00:01:34.139><c> that</c><00:01:34.409><c> on</c><00:01:34.859><c> process</c>

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tesr sort of this idea that on process
 

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tesr sort of this idea that on process
on<00:01:35.700><c> computer</c><00:01:36.509><c> chips</c><00:01:36.780><c> that</c><00:01:37.049><c> can</c><00:01:37.499><c> actually</c><00:01:37.710><c> be</c>

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on computer chips that can actually be
 

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on computer chips that can actually be
like<00:01:38.429><c> a</c><00:01:38.490><c> separate</c><00:01:38.939><c> environment</c><00:01:39.509><c> which</c><00:01:39.689><c> is</c>

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like a separate environment which is
 

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like a separate environment which is
sort<00:01:40.859><c> of</c><00:01:40.920><c> hidden</c><00:01:41.189><c> from</c><00:01:41.549><c> the</c><00:01:41.729><c> OS</c><00:01:42.329><c> so</c><00:01:43.170><c> and</c><00:01:43.649><c> this</c>

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sort of hidden from the OS so and this
 

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sort of hidden from the OS so and this
sort<00:01:44.340><c> of</c><00:01:44.429><c> special</c><00:01:44.909><c> they</c><00:01:45.389><c> call</c><00:01:45.569><c> it</c><00:01:45.659><c> Enclave</c>

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sort of special they call it Enclave
 

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sort of special they call it Enclave
imagine<00:01:47.100><c> if</c><00:01:47.219><c> this</c><00:01:47.429><c> Enclave</c><00:01:47.729><c> had</c><00:01:47.999><c> like</c><00:01:48.149><c> a</c>

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imagine if this Enclave had like a
 

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imagine if this Enclave had like a
private<00:01:48.659><c> key</c><00:01:48.780><c> and</c><00:01:48.899><c> a</c><00:01:48.959><c> public</c><00:01:49.109><c> key</c><00:01:49.469><c> and</c><00:01:49.709><c> I</c>

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private key and a public key and I
 

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private key and a public key and I
encrypt<00:01:50.759><c> the</c><00:01:50.850><c> file</c><00:01:51.060><c> with</c><00:01:51.240><c> the</c><00:01:51.359><c> enclaves</c>

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encrypt the file with the enclaves
 

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encrypt the file with the enclaves
public<00:01:52.200><c> key</c><00:01:52.409><c> only</c><00:01:53.280><c> the</c><00:01:53.490><c> Huntley</c><00:01:53.789><c> can</c><00:01:53.999><c> actually</c>

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public key only the Huntley can actually
 

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public key only the Huntley can actually
decrypt<00:01:54.630><c> it</c><00:01:54.869><c> no</c><00:01:55.109><c> one</c><00:01:55.229><c> else</c><00:01:55.350><c> in</c><00:01:55.530><c> the</c><00:01:55.619><c> entire</c>

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decrypt it no one else in the entire
 

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decrypt it no one else in the entire
world<00:01:55.920><c> can</c><00:01:56.189><c> see</c><00:01:56.249><c> what</c><00:01:56.459><c> it</c><00:01:56.729><c> actually</c><00:01:56.759><c> is</c><00:01:57.240><c> so</c>

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world can see what it actually is so
 

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world can see what it actually is so
that's<00:01:58.469><c> how</c><00:01:58.740><c> we</c><00:01:58.799><c> can</c><00:01:59.189><c> actually</c><00:01:59.490><c> achieve</c><00:01:59.609><c> this</c>

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that's how we can actually achieve this
 

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that's how we can actually achieve this
private<00:02:00.719><c> computation</c><00:02:02.509><c> sort</c><00:02:03.509><c> of</c><00:02:03.600><c> the</c><00:02:03.719><c> most</c>

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private computation sort of the most
 

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private computation sort of the most
common<00:02:04.350><c> thing</c><00:02:05.100><c> the</c><00:02:05.490><c> most</c><00:02:05.670><c> common</c><00:02:05.969><c> Enclave</c>

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common thing the most common Enclave
 

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common thing the most common Enclave
today<00:02:06.600><c> is</c><00:02:06.719><c> the</c><00:02:06.899><c> Intel</c><00:02:07.289><c> SGX</c><00:02:07.529><c> chip</c><00:02:08.099><c> which</c><00:02:09.030><c> is</c>

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today is the Intel SGX chip which is
 

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today is the Intel SGX chip which is
actually<00:02:09.509><c> available</c><00:02:09.599><c> in</c><00:02:10.080><c> most</c><00:02:10.259><c> Intel</c>

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actually available in most Intel
 

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actually available in most Intel
computers<00:02:11.250><c> today</c><00:02:11.689><c> Intel</c><00:02:12.689><c> chips</c><00:02:12.930><c> today</c>

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computers today Intel chips today
 

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computers today Intel chips today
obviously<00:02:14.640><c> there</c><00:02:14.760><c> are</c><00:02:14.790><c> some</c><00:02:14.970><c> problems</c><00:02:15.420><c> with</c>

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obviously there are some problems with
 

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obviously there are some problems with
like<00:02:15.810><c> we</c><00:02:16.410><c> having</c><00:02:16.710><c> to</c><00:02:16.860><c> trust</c><00:02:17.070><c> Intel</c><00:02:17.550><c> that</c><00:02:18.270><c> they</c>

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like we having to trust Intel that they
 

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like we having to trust Intel that they
did<00:02:18.900><c> not</c><00:02:18.960><c> put</c><00:02:19.200><c> like</c><00:02:19.290><c> a</c><00:02:19.320><c> back</c><00:02:19.560><c> door</c><00:02:19.710><c> or</c><00:02:19.770><c> whatever</c>

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did not put like a back door or whatever
 

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did not put like a back door or whatever
but<00:02:21.750><c> sort</c><00:02:21.990><c> of</c><00:02:22.050><c> you</c><00:02:22.680><c> can</c><00:02:22.800><c> think</c><00:02:23.040><c> of</c><00:02:23.160><c> how</c><00:02:23.400><c> it</c>

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but sort of you can think of how it
 

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but sort of you can think of how it
would<00:02:23.670><c> work</c><00:02:23.700><c> is</c><00:02:24.060><c> that</c><00:02:24.300><c> we</c><00:02:24.930><c> have</c><00:02:25.050><c> a</c><00:02:25.080><c> smart</c>

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would work is that we have a smart
 

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would work is that we have a smart
contract<00:02:25.590><c> which</c><00:02:25.980><c> actually</c><00:02:26.280><c> coordinates</c>

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contract which actually coordinates
 

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contract which actually coordinates
users<00:02:28.080><c> and</c><00:02:28.470><c> off</c><00:02:29.430><c> chain</c><00:02:29.700><c> trusted</c><00:02:30.120><c> execution</c>

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users and off chain trusted execution
 

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users and off chain trusted execution
environment<00:02:31.260><c> computers</c><00:02:31.710><c> and</c><00:02:32.420><c> they</c><00:02:33.420><c> don't</c><00:02:33.840><c> see</c>

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environment computers and they don't see
 

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environment computers and they don't see
what<00:02:34.290><c> you're</c><00:02:34.440><c> actually</c><00:02:34.710><c> computing</c><00:02:35.190><c> but</c>

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what you're actually computing but
 

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what you're actually computing but
they'll<00:02:35.700><c> help</c><00:02:35.880><c> you</c><00:02:36.030><c> do</c><00:02:36.120><c> with</c><00:02:36.210><c> the</c><00:02:36.300><c> result</c>

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they'll help you do with the result
 

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they'll help you do with the result
that's<00:02:37.680><c> like</c><00:02:38.010><c> the</c><00:02:38.340><c> easiest</c><00:02:38.520><c> way</c><00:02:38.940><c> and</c><00:02:39.150><c> the</c><00:02:39.510><c> most</c>

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that's like the easiest way and the most
 

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that's like the easiest way and the most
practical<00:02:40.230><c> one</c><00:02:40.440><c> today</c><00:02:42.320><c> the</c><00:02:43.320><c> second</c><00:02:43.680><c> one</c><00:02:43.800><c> is</c>

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practical one today the second one is
 

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practical one today the second one is
quite<00:02:44.430><c> interesting</c><00:02:44.970><c> it's</c><00:02:45.240><c> a</c><00:02:45.330><c> cryptographic</c>

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quite interesting it's a cryptographic
 

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quite interesting it's a cryptographic
method<00:02:46.290><c> it's</c><00:02:46.500><c> not</c><00:02:46.680><c> Hardware</c><00:02:47.100><c> at</c><00:02:47.220><c> all</c>

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method it's not Hardware at all
 

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method it's not Hardware at all
it's<00:02:48.030><c> called</c><00:02:48.240><c> MPC</c><00:02:48.720><c> some</c><00:02:49.320><c> of</c><00:02:49.410><c> you</c><00:02:49.560><c> guys</c><00:02:49.680><c> might</c>

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it's called MPC some of you guys might
 

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it's called MPC some of you guys might
have<00:02:49.950><c> heard</c><00:02:50.070><c> of</c><00:02:50.280><c> it</c><00:02:51.470><c> it</c><00:02:52.470><c> sort</c><00:02:52.680><c> of</c><00:02:52.800><c> goes</c><00:02:53.070><c> like</c>

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have heard of it it sort of goes like
 

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have heard of it it sort of goes like
this<00:02:53.570><c> let's</c><00:02:54.570><c> say</c><00:02:54.750><c> there</c><00:02:54.990><c> are</c><00:02:55.050><c> three</c><00:02:55.380><c> people</c>

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this let's say there are three people
 

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this let's say there are three people
XYZ<00:02:56.400><c> who</c><00:02:57.120><c> want</c><00:02:57.330><c> to</c><00:02:57.420><c> compute</c><00:02:57.900><c> like</c><00:02:58.080><c> the</c><00:02:58.230><c> sum</c><00:02:58.500><c> of</c>

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XYZ who want to compute like the sum of
 

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XYZ who want to compute like the sum of
their<00:02:59.300><c> numbers</c><00:03:00.300><c> or</c><00:03:00.480><c> whatever</c><00:03:00.660><c> but</c><00:03:01.410><c> each</c><00:03:01.710><c> of</c>

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their numbers or whatever but each of
 

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their numbers or whatever but each of
them<00:03:01.980><c> don't</c><00:03:02.220><c> want</c><00:03:02.400><c> to</c><00:03:02.490><c> reveal</c><00:03:02.610><c> what</c><00:03:03.570><c> the</c>

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them don't want to reveal what the
 

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them don't want to reveal what the
actual<00:03:04.050><c> number</c><00:03:04.350><c> is</c><00:03:05.420><c> what</c><00:03:06.420><c> person</c><00:03:06.780><c> X</c><00:03:06.990><c> can</c><00:03:07.260><c> do</c><00:03:07.380><c> is</c>

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actual number is what person X can do is
 

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actual number is what person X can do is
he<00:03:07.860><c> can</c><00:03:07.980><c> do</c><00:03:08.190><c> like</c><00:03:08.430><c> a</c><00:03:08.460><c> linear</c><00:03:08.870><c> secret</c><00:03:09.870><c> sharing</c>

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he can do like a linear secret sharing
 

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he can do like a linear secret sharing
scheme<00:03:10.280><c> he</c><00:03:11.280><c> can</c><00:03:11.460><c> break</c><00:03:11.670><c> down</c><00:03:11.820><c> his</c><00:03:12.000><c> input</c><00:03:12.360><c> like</c>

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scheme he can break down his input like
 

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scheme he can break down his input like
X<00:03:12.780><c> into</c><00:03:13.260><c> three</c><00:03:13.710><c> pieces</c><00:03:13.950><c> maybe</c><00:03:14.430><c> X</c><00:03:15.060><c> 1</c><00:03:15.480><c> X</c><00:03:15.780><c> 2</c><00:03:15.960><c> and</c><00:03:15.990><c> X</c>

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X into three pieces maybe X 1 X 2 and X
 

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X into three pieces maybe X 1 X 2 and X
3<00:03:16.700><c> and</c><00:03:17.700><c> he</c><00:03:18.239><c> can</c><00:03:18.390><c> send</c><00:03:18.660><c> these</c><00:03:18.810><c> to</c><00:03:19.050><c> three</c>

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3 and he can send these to three
 

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3 and he can send these to three
different<00:03:19.770><c> notes</c><00:03:20.209><c> Y</c><00:03:21.209><c> will</c><00:03:21.450><c> do</c><00:03:21.570><c> the</c><00:03:21.690><c> same</c><00:03:21.870><c> Z</c>

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different notes Y will do the same Z
 

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different notes Y will do the same Z
will<00:03:22.380><c> do</c><00:03:22.500><c> the</c><00:03:22.620><c> same</c><00:03:22.830><c> and</c><00:03:23.130><c> in</c><00:03:23.280><c> the</c><00:03:23.400><c> end</c><00:03:23.580><c> one</c><00:03:24.239><c> of</c>

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will do the same and in the end one of
 

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will do the same and in the end one of
these<00:03:24.510><c> nodes</c><00:03:24.780><c> for</c><00:03:25.050><c> example</c><00:03:25.470><c> that</c><00:03:25.739><c> note</c><00:03:25.920><c> there</c>

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these nodes for example that note there
 

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these nodes for example that note there
he<00:03:27.150><c> only</c><00:03:27.480><c> gets</c><00:03:28.070><c> x1</c><00:03:29.070><c> y1</c><00:03:29.550><c> z1</c><00:03:30.060><c> and</c><00:03:30.660><c> he</c><00:03:31.230><c> can</c><00:03:31.410><c> input</c>

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he only gets x1 y1 z1 and he can input
 

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he only gets x1 y1 z1 and he can input
we<00:03:32.100><c> can</c><00:03:32.250><c> calculate</c><00:03:32.550><c> someone</c><00:03:33.440><c> so</c><00:03:34.440><c> he</c><00:03:34.650><c> doesn't</c>

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we can calculate someone so he doesn't
 

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we can calculate someone so he doesn't
actually<00:03:35.070><c> see</c><00:03:35.430><c> the</c><00:03:35.640><c> full</c><00:03:35.850><c> input</c><00:03:36.060><c> of</c><00:03:36.360><c> any</c><00:03:36.510><c> of</c>

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actually see the full input of any of
 

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actually see the full input of any of
the<00:03:36.930><c> XYZ</c><00:03:37.260><c> but</c><00:03:37.650><c> he</c><00:03:37.800><c> only</c><00:03:37.920><c> cares</c><00:03:38.130><c> like</c><00:03:38.250><c> a</c><00:03:38.310><c> piece</c>

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the XYZ but he only cares like a piece
 

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the XYZ but he only cares like a piece
of<00:03:38.820><c> it</c><00:03:39.090><c> and</c><00:03:39.270><c> in</c><00:03:40.050><c> the</c><00:03:40.200><c> end</c><00:03:40.230><c> all</c><00:03:40.560><c> three</c><00:03:40.860><c> of</c><00:03:41.010><c> them</c>

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of it and in the end all three of them
 

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of it and in the end all three of them
can<00:03:41.340><c> come</c><00:03:41.520><c> together</c><00:03:41.670><c> and</c><00:03:42.000><c> actually</c><00:03:42.390><c> produce</c>

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can come together and actually produce
 

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can come together and actually produce
the<00:03:42.900><c> actual</c><00:03:43.050><c> sum</c><00:03:43.410><c> without</c><00:03:44.190><c> anyone</c><00:03:44.550><c> seeing</c>

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the actual sum without anyone seeing
 

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the actual sum without anyone seeing
what<00:03:45.390><c> the</c><00:03:45.510><c> actual</c><00:03:45.780><c> inputs</c><00:03:46.110><c> were</c><00:03:46.260><c> it's</c><00:03:46.709><c> quite</c>

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what the actual inputs were it's quite
 

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what the actual inputs were it's quite
magical<00:03:47.430><c> actually</c><00:03:49.700><c> addition</c><00:03:50.700><c> is</c><00:03:50.940><c> really</c><00:03:51.239><c> easy</c>

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magical actually addition is really easy
 

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magical actually addition is really easy
multiplication<00:03:52.260><c> is</c><00:03:52.950><c> super</c><00:03:53.190><c> hard</c><00:03:53.340><c> for</c><00:03:53.640><c> this</c>

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multiplication is super hard for this
 

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multiplication is super hard for this
MPC<00:03:54.239><c> method</c><00:03:54.920><c> but</c><00:03:55.920><c> there</c><00:03:56.220><c> are</c><00:03:56.310><c> a</c><00:03:56.370><c> lot</c><00:03:56.489><c> of</c>

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MPC method but there are a lot of
 

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MPC method but there are a lot of
cryptographic<00:03:56.970><c> ways</c><00:03:57.390><c> of</c><00:03:57.630><c> doing</c><00:03:57.750><c> it</c><00:03:57.989><c> and</c><00:03:58.200><c> most</c>

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cryptographic ways of doing it and most
 

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cryptographic ways of doing it and most
of<00:03:59.100><c> like</c><00:03:59.310><c> the</c><00:03:59.489><c> cutting</c><00:03:59.850><c> edge</c><00:03:59.970><c> work</c><00:04:00.180><c> today</c><00:04:00.480><c> is</c>

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of like the cutting edge work today is
 

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of like the cutting edge work today is
sort<00:04:00.870><c> of</c><00:04:00.989><c> trying</c><00:04:01.290><c> to</c><00:04:01.410><c> optimize</c><00:04:02.060><c> doing</c>

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sort of trying to optimize doing
 

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sort of trying to optimize doing
multiplication<00:04:03.420><c> and</c><00:04:04.050><c> actually</c><00:04:05.120><c> if</c><00:04:06.120><c> you</c><00:04:06.360><c> can</c>

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multiplication and actually if you can
 

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multiplication and actually if you can
do<00:04:06.600><c> multiplication</c><00:04:06.989><c> and</c><00:04:07.530><c> addition</c><00:04:07.860><c> you</c><00:04:08.760><c> can</c>

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do multiplication and addition you can
 

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do multiplication and addition you can
do<00:04:09.090><c> any</c><00:04:09.330><c> computation</c><00:04:09.900><c> you</c><00:04:10.260><c> want</c><00:04:10.410><c> in</c><00:04:10.470><c> the</c>

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do any computation you want in the
 

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do any computation you want in the
entire<00:04:10.830><c> wall</c><00:04:11.269><c> so</c><00:04:12.269><c> that's</c><00:04:12.989><c> how</c><00:04:13.140><c> you</c><00:04:13.200><c> can</c>

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entire wall so that's how you can
 

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entire wall so that's how you can
achieve<00:04:13.530><c> sort</c><00:04:14.250><c> of</c><00:04:14.310><c> these</c><00:04:14.519><c> turing-complete</c>

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achieve sort of these turing-complete
 

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achieve sort of these turing-complete
private<00:04:16.620><c> smart</c><00:04:16.830><c> contracts</c><00:04:19.400><c> one</c><00:04:20.400><c> of</c><00:04:20.519><c> the</c><00:04:20.640><c> big</c>

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private smart contracts one of the big
 

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private smart contracts one of the big
problems<00:04:21.209><c> of</c><00:04:21.359><c> that</c><00:04:21.480><c> is</c><00:04:21.780><c> like</c><00:04:22.220><c> for</c><00:04:23.220><c> example</c><00:04:23.479><c> for</c>

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problems of that is like for example for
 

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problems of that is like for example for
the<00:04:24.570><c> MPC</c><00:04:25.020><c> thing</c><00:04:25.289><c> what</c><00:04:25.890><c> if</c><00:04:26.010><c> one</c><00:04:26.220><c> guy</c><00:04:26.430><c> actually</c>

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the MPC thing what if one guy actually
 

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the MPC thing what if one guy actually
doesn't<00:04:27.719><c> do</c><00:04:27.870><c> the</c><00:04:28.020><c> correct</c><00:04:28.289><c> protocol</c><00:04:28.620><c> he</c><00:04:28.830><c> just</c>

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doesn't do the correct protocol he just
 

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doesn't do the correct protocol he just
does<00:04:29.219><c> some</c><00:04:29.430><c> random</c><00:04:29.759><c> computation</c><00:04:30.659><c> and</c><00:04:30.960><c> the</c>

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does some random computation and the
 

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does some random computation and the
result<00:04:31.889><c> is</c><00:04:32.009><c> nonsense</c><00:04:32.999><c> he</c><00:04:33.270><c> would</c><00:04:33.389><c> have</c><00:04:33.479><c> reset</c>

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result is nonsense he would have reset
 

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result is nonsense he would have reset
everyone<00:04:34.080><c> else's</c><00:04:34.439><c> time</c><00:04:34.620><c> so</c><00:04:35.460><c> that's</c><00:04:35.729><c> some</c><00:04:35.909><c> sort</c>

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everyone else's time so that's some sort
 

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everyone else's time so that's some sort
of<00:04:36.180><c> Sybil</c><00:04:36.569><c> attack</c><00:04:37.020><c> can</c><00:04:37.259><c> thing</c><00:04:37.529><c> so</c><00:04:38.400><c> we</c><00:04:38.580><c> also</c>

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of Sybil attack can thing so we also
 

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of Sybil attack can thing so we also
want<00:04:38.969><c> to</c><00:04:39.029><c> make</c><00:04:39.300><c> sure</c><00:04:39.330><c> that</c><00:04:39.659><c> all</c><00:04:39.930><c> these</c><00:04:40.169><c> private</c>

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want to make sure that all these private
 

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want to make sure that all these private
computing<00:04:41.849><c> notes</c><00:04:42.060><c> do</c><00:04:42.810><c> the</c><00:04:42.960><c> right</c><00:04:43.139><c> thing</c><00:04:43.379><c> so</c>

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computing notes do the right thing so
 

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computing notes do the right thing so
how<00:04:44.370><c> do</c><00:04:44.430><c> you</c><00:04:44.550><c> do</c><00:04:44.639><c> that</c><00:04:44.789><c> we</c><00:04:45.539><c> sort</c><00:04:45.810><c> of</c><00:04:45.930><c> force</c><00:04:46.169><c> them</c>

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how do you do that we sort of force them
 

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how do you do that we sort of force them
to<00:04:46.379><c> prove</c><00:04:47.009><c> that</c><00:04:47.430><c> they</c><00:04:47.759><c> did</c><00:04:47.939><c> the</c><00:04:48.060><c> correct</c><00:04:48.300><c> thing</c>

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to prove that they did the correct thing
 

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to prove that they did the correct thing
they<00:04:49.080><c> ran</c><00:04:49.949><c> the</c><00:04:50.099><c> correct</c><00:04:50.370><c> computation</c><00:04:52.400><c> there</c>

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they ran the correct computation there
 

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they ran the correct computation there
are<00:04:53.460><c> sort</c><00:04:53.610><c> of</c><00:04:53.639><c> two</c><00:04:53.789><c> ways</c><00:04:53.939><c> of</c><00:04:54.090><c> doing</c><00:04:54.240><c> this</c><00:04:54.479><c> one</c>

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are sort of two ways of doing this one
 

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are sort of two ways of doing this one
is<00:04:55.110><c> the</c><00:04:55.289><c> true</c><00:04:55.560><c> bit</c><00:04:55.710><c> muddled</c><00:04:56.629><c> it's</c><00:04:57.629><c> really</c><00:04:57.900><c> easy</c>

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is the true bit muddled it's really easy
 

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is the true bit muddled it's really easy
to<00:04:58.229><c> do</c><00:04:58.439><c> today</c><00:04:58.740><c> it</c><00:04:59.340><c> doesn't</c><00:04:59.759><c> use</c><00:04:59.909><c> much</c>

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to do today it doesn't use much
 

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to do today it doesn't use much
cryptography<00:05:00.900><c> is</c><00:05:00.960><c> more</c><00:05:01.199><c> like</c><00:05:01.379><c> economically</c>

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cryptography is more like economically
 

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cryptography is more like economically
guaranteeing<00:05:02.969><c> that</c><00:05:03.090><c> people</c><00:05:03.569><c> do</c><00:05:04.229><c> correct</c>

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guaranteeing that people do correct
 

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guaranteeing that people do correct
computations<00:05:05.270><c> but</c><00:05:06.270><c> sort</c><00:05:06.539><c> of</c><00:05:06.599><c> I</c><00:05:06.719><c> think</c><00:05:06.750><c> the</c>

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computations but sort of I think the
 

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computations but sort of I think the
more<00:05:07.349><c> interesting</c><00:05:07.529><c> one</c><00:05:07.949><c> is</c><00:05:08.129><c> sort</c><00:05:08.610><c> of</c><00:05:08.669><c> using</c>

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more interesting one is sort of using
 

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more interesting one is sort of using
like<00:05:09.120><c> zero</c><00:05:09.330><c> knowledge</c><00:05:09.449><c> proof</c><00:05:09.770><c> stuff</c><00:05:10.770><c> like</c>

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like zero knowledge proof stuff like
 

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like zero knowledge proof stuff like
that<00:05:11.099><c> to</c><00:05:11.340><c> make</c><00:05:11.460><c> sure</c><00:05:11.520><c> that</c><00:05:12.199><c> notes</c><00:05:13.199><c> can</c>

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that to make sure that notes can
 

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that to make sure that notes can
actually<00:05:13.889><c> run</c><00:05:14.279><c> the</c><00:05:14.400><c> computation</c><00:05:14.779><c> submit</c><00:05:15.779><c> a</c>

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actually run the computation submit a
 

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actually run the computation submit a
proof<00:05:16.080><c> to</c><00:05:16.439><c> the</c><00:05:16.560><c> smart</c><00:05:16.830><c> contract</c><00:05:17.250><c> that</c><00:05:17.340><c> they</c>

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proof to the smart contract that they
 

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proof to the smart contract that they
actually<00:05:17.669><c> ran</c><00:05:18.029><c> the</c><00:05:18.150><c> right</c><00:05:18.330><c> one</c><00:05:18.509><c> and</c><00:05:18.750><c> this</c>

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actually ran the right one and this
 

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actually ran the right one and this
mathematical<00:05:20.699><c> guarantee</c><00:05:21.089><c> that</c><00:05:21.300><c> they</c><00:05:21.419><c> did</c><00:05:22.520><c> so</c>

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mathematical guarantee that they did so
 

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mathematical guarantee that they did so
snart's<00:05:23.969><c> us</c><00:05:24.240><c> quite</c><00:05:24.779><c> interesting</c><00:05:25.259><c> in</c><00:05:25.349><c> this</c>

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snart's us quite interesting in this
 

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snart's us quite interesting in this
regard<00:05:25.860><c> but</c><00:05:26.099><c> they</c><00:05:26.759><c> need</c><00:05:26.969><c> a</c><00:05:26.999><c> trusted</c><00:05:27.419><c> setup</c><00:05:27.719><c> for</c>

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regard but they need a trusted setup for
 

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regard but they need a trusted setup for
each<00:05:27.990><c> type</c><00:05:28.319><c> of</c><00:05:28.400><c> computation</c><00:05:29.400><c> that</c><00:05:29.430><c> you</c><00:05:29.639><c> do</c><00:05:29.819><c> so</c>

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each type of computation that you do so
 

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each type of computation that you do so
it<00:05:30.810><c> might</c><00:05:30.930><c> be</c><00:05:30.990><c> good</c><00:05:31.259><c> for</c><00:05:31.289><c> like</c><00:05:31.560><c> one</c><00:05:31.770><c> time</c><00:05:32.689><c> one</c>

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it might be good for like one time one
 

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it might be good for like one time one
contract<00:05:34.199><c> which</c><00:05:34.349><c> has</c><00:05:34.379><c> you</c><00:05:34.979><c> just</c><00:05:35.189><c> use</c><00:05:35.370><c> many</c>

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contract which has you just use many
 

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contract which has you just use many
many<00:05:35.789><c> times</c><00:05:36.029><c> like</c><00:05:36.270><c> maybe</c><00:05:36.449><c> like</c><00:05:36.629><c> Z</c><00:05:36.810><c> cache</c><00:05:36.990><c> type</c>

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many times like maybe like Z cache type
 

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many times like maybe like Z cache type
thing<00:05:37.409><c> but</c><00:05:38.129><c> if</c><00:05:38.279><c> you</c><00:05:38.310><c> want</c><00:05:38.639><c> like</c><00:05:38.789><c> a</c><00:05:38.819><c> new</c><00:05:39.180><c> trust</c>

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thing but if you want like a new trust
 

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thing but if you want like a new trust
set<00:05:39.779><c> up</c><00:05:39.810><c> for</c><00:05:40.050><c> each</c><00:05:40.169><c> smart</c><00:05:40.469><c> contract</c><00:05:40.919><c> that's</c>

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set up for each smart contract that's
 

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set up for each smart contract that's
like<00:05:41.639><c> super</c><00:05:41.909><c> unscalable</c><00:05:42.919><c> so</c><00:05:43.919><c> there</c><00:05:44.099><c> are</c><00:05:44.189><c> a</c><00:05:44.219><c> lot</c>

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like super unscalable so there are a lot
 

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like super unscalable so there are a lot
of<00:05:44.339><c> cool</c><00:05:44.789><c> new</c><00:05:44.819><c> things</c><00:05:45.539><c> that</c><00:05:45.870><c> you</c><00:05:45.960><c> guys</c><00:05:46.080><c> have</c>

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of cool new things that you guys have
 

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of cool new things that you guys have
seen<00:05:46.469><c> over</c><00:05:46.649><c> the</c><00:05:46.800><c> last</c><00:05:46.949><c> few</c><00:05:47.099><c> days</c><00:05:47.219><c> I</c><00:05:47.430><c> starts</c><00:05:47.849><c> and</c>

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seen over the last few days I starts and
 

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seen over the last few days I starts and
that's<00:05:48.960><c> this</c><00:05:49.169><c> one</c><00:05:49.649><c> new</c><00:05:50.250><c> protocol</c><00:05:50.759><c> calls</c><00:05:51.029><c> XE</c><00:05:51.509><c> I</c>

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that's this one new protocol calls XE I
 

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that's this one new protocol calls XE I
think<00:05:51.899><c> which</c><00:05:52.620><c> is</c><00:05:52.770><c> by</c><00:05:52.919><c> some</c><00:05:53.189><c> Cornell</c><00:05:53.550><c> guys</c>

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think which is by some Cornell guys
 

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think which is by some Cornell guys
which<00:05:55.229><c> also</c><00:05:55.500><c> does</c><00:05:55.649><c> this</c><00:05:55.830><c> in</c><00:05:56.009><c> a</c><00:05:56.069><c> very</c>

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which also does this in a very
 

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which also does this in a very
interesting<00:05:57.000><c> way</c><00:05:57.210><c> so</c><00:05:59.629><c> sort</c><00:06:00.629><c> of</c><00:06:00.689><c> to</c><00:06:00.899><c> put</c><00:06:01.080><c> it</c><00:06:01.169><c> all</c>

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interesting way so sort of to put it all
 

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interesting way so sort of to put it all
together<00:06:01.520><c> we</c><00:06:02.520><c> can</c><00:06:02.550><c> think</c><00:06:02.819><c> of</c><00:06:02.969><c> the</c><00:06:03.289><c> original</c>

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together we can think of the original
 

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together we can think of the original
problem<00:06:04.680><c> of</c><00:06:04.830><c> hiding</c><00:06:05.759><c> all</c><00:06:05.879><c> the</c><00:06:06.000><c> inputs</c><00:06:06.360><c> hiding</c>

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problem of hiding all the inputs hiding
 

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problem of hiding all the inputs hiding
the<00:06:07.020><c> state</c><00:06:07.259><c> of</c><00:06:07.379><c> the</c><00:06:07.469><c> smart</c><00:06:07.710><c> contract</c><00:06:07.889><c> and</c>

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the state of the smart contract and
 

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the state of the smart contract and
getting<00:06:08.460><c> the</c><00:06:08.639><c> output</c><00:06:09.089><c> using</c><00:06:09.779><c> the</c><00:06:10.080><c> tree</c>

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getting the output using the tree
 

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getting the output using the tree
methods<00:06:11.039><c> that</c><00:06:11.279><c> I</c><00:06:11.339><c> mentioned</c><00:06:11.939><c> above</c>

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methods that I mentioned above
 

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methods that I mentioned above
so<00:06:13.139><c> we</c><00:06:13.649><c> can</c><00:06:13.830><c> make</c><00:06:14.009><c> sure</c><00:06:14.189><c> that</c><00:06:14.219><c> the</c><00:06:14.849><c> smart</c><00:06:15.120><c> the</c>

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so we can make sure that the smart the
 

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so we can make sure that the smart the
people<00:06:15.839><c> who</c><00:06:15.960><c> are</c><00:06:16.050><c> computing</c><00:06:16.529><c> the</c><00:06:16.860><c> actual</c>

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people who are computing the actual
 

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people who are computing the actual
output<00:06:18.389><c> the</c><00:06:19.050><c> computing</c><00:06:19.500><c> notes</c><00:06:19.710><c> all</c><00:06:20.279><c> have</c><00:06:20.610><c> to</c>

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output the computing notes all have to
 

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output the computing notes all have to
run<00:06:20.939><c> trusted</c><00:06:21.539><c> execution</c><00:06:21.779><c> environments</c><00:06:22.589><c> and</c>

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run trusted execution environments and
 

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run trusted execution environments and
if<00:06:23.520><c> that</c><00:06:23.669><c> is</c><00:06:23.789><c> compromised</c><00:06:24.270><c> they</c><00:06:24.839><c> also</c><00:06:25.020><c> have</c><00:06:25.319><c> to</c>

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if that is compromised they also have to
 

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if that is compromised they also have to
run<00:06:25.620><c> an</c><00:06:25.740><c> MPC</c><00:06:25.979><c> protocol</c><00:06:26.550><c> so</c><00:06:26.819><c> if</c><00:06:27.419><c> you're</c><00:06:27.779><c> able</c><00:06:27.930><c> to</c>

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run an MPC protocol so if you're able to
 

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run an MPC protocol so if you're able to
pretend<00:06:28.649><c> that</c><00:06:28.800><c> you</c><00:06:29.009><c> have</c><00:06:29.039><c> like</c><00:06:29.310><c> Enclave</c><00:06:30.210><c> but</c>

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pretend that you have like Enclave but
 

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pretend that you have like Enclave but
you<00:06:30.479><c> actually</c><00:06:30.569><c> don't</c><00:06:30.839><c> you</c><00:06:31.620><c> still</c><00:06:31.860><c> only</c><00:06:32.039><c> have</c><00:06:32.159><c> a</c>

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you actually don't you still only have a
 

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you actually don't you still only have a
piece<00:06:32.580><c> of</c><00:06:32.759><c> the</c><00:06:32.849><c> data</c><00:06:33.029><c> it's</c><00:06:33.629><c> really</c><00:06:34.139><c> strong</c>

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piece of the data it's really strong
 

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piece of the data it's really strong
adversarial<00:06:35.669><c> guarantees</c><00:06:36.089><c> actually</c><00:06:36.919><c> and</c>

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adversarial guarantees actually and
 

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adversarial guarantees actually and
lastly<00:06:38.580><c> we</c><00:06:38.909><c> can</c><00:06:39.060><c> use</c><00:06:39.240><c> some</c><00:06:39.449><c> sort</c><00:06:39.479><c> of</c><00:06:39.719><c> zero</c>

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lastly we can use some sort of zero
 

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lastly we can use some sort of zero
knowledge<00:06:40.440><c> proof</c>

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knowledge proof
 

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knowledge proof
that<00:06:41.399><c> these</c><00:06:41.579><c> the</c><00:06:41.999><c> computing</c><00:06:42.479><c> notes</c><00:06:42.659><c> can</c><00:06:42.989><c> show</c>

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that these the computing notes can show
 

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that these the computing notes can show
the<00:06:43.949><c> whole</c><00:06:44.129><c> world</c><00:06:44.159><c> that</c><00:06:44.579><c> the</c><00:06:44.609><c> Aranda</c><00:06:45.029><c> thing</c>

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the whole world that the Aranda thing
 

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the whole world that the Aranda thing
correctly<00:06:45.599><c> and</c><00:06:46.079><c> we</c><00:06:46.889><c> can</c><00:06:47.039><c> also</c><00:06:47.249><c> sort</c><00:06:47.789><c> of</c><00:06:47.909><c> use</c><00:06:48.119><c> a</c>

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correctly and we can also sort of use a
 

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correctly and we can also sort of use a
smart<00:06:48.569><c> contract</c><00:06:48.719><c> to</c><00:06:49.489><c> economically</c>

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smart contract to economically
 

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smart contract to economically
incentivize<00:06:51.359><c> this</c><00:06:51.599><c> whole</c><00:06:51.779><c> process</c><00:06:52.019><c> and</c><00:06:52.579><c> we</c>

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incentivize this whole process and we
 

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incentivize this whole process and we
can<00:06:53.729><c> do</c><00:06:53.879><c> private</c><00:06:54.469><c> private</c><00:06:55.469><c> voting</c><00:06:55.769><c> stuff</c><00:06:55.979><c> and</c>

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can do private private voting stuff and
 

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can do private private voting stuff and
a<00:06:56.339><c> lot</c><00:06:56.459><c> of</c><00:06:56.609><c> other</c><00:06:56.789><c> cool</c><00:06:57.319><c> applications</c><00:06:58.319><c> thank</c>

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a lot of other cool applications thank
 

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a lot of other cool applications thank
you

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you