WEBVTT Kind: captions Language: en 00:00:14.340 --> 00:00:18.179 align:start position:0% getting<00:00:15.340> information<00:00:16.439> from<00:00:17.439> a<00:00:17.500> website<00:00:17.769> to<00:00:18.159> a 00:00:18.179 --> 00:00:18.189 align:start position:0% getting information from a website to a 00:00:18.189 --> 00:00:20.939 align:start position:0% getting information from a website to a contract<00:00:18.989> and<00:00:19.989> that's<00:00:20.109> something<00:00:20.560> that<00:00:20.679> we<00:00:20.800> do 00:00:20.939 --> 00:00:20.949 align:start position:0% contract and that's something that we do 00:00:20.949 --> 00:00:23.279 align:start position:0% contract and that's something that we do a<00:00:20.980> reality<00:00:21.460> keys<00:00:21.869> but<00:00:22.869> I<00:00:22.900> want<00:00:23.079> to<00:00:23.169> talk 00:00:23.279 --> 00:00:23.289 align:start position:0% a reality keys but I want to talk 00:00:23.289 --> 00:00:24.599 align:start position:0% a reality keys but I want to talk something<00:00:23.529> about<00:00:23.800> something<00:00:24.279> a<00:00:24.310> bit<00:00:24.429> broader 00:00:24.599 --> 00:00:24.609 align:start position:0% something about something a bit broader 00:00:24.609 --> 00:00:32.310 align:start position:0% something about something a bit broader today<00:00:27.929> so<00:00:29.519> this<00:00:30.519> is<00:00:30.640> kind<00:00:30.849> of<00:00:30.909> an<00:00:31.029> ideal<00:00:31.509> smart 00:00:32.310 --> 00:00:32.320 align:start position:0% today so this is kind of an ideal smart 00:00:32.320 --> 00:00:34.280 align:start position:0% today so this is kind of an ideal smart contract<00:00:32.770> this<00:00:32.860> is<00:00:32.950> our<00:00:33.130> insurance<00:00:33.489> contract 00:00:34.280 --> 00:00:34.290 align:start position:0% contract this is our insurance contract 00:00:34.290 --> 00:00:38.280 align:start position:0% contract this is our insurance contract so<00:00:36.120> I've<00:00:37.120> kind<00:00:37.570> of<00:00:37.600> skipped<00:00:37.840> the<00:00:37.900> stuff<00:00:38.080> where 00:00:38.280 --> 00:00:38.290 align:start position:0% so I've kind of skipped the stuff where 00:00:38.290 --> 00:00:41.700 align:start position:0% so I've kind of skipped the stuff where we<00:00:38.410> set<00:00:38.650> up<00:00:38.680> a<00:00:39.370> policy<00:00:40.350> but<00:00:41.350> we've<00:00:41.470> just<00:00:41.620> got 00:00:41.700 --> 00:00:41.710 align:start position:0% we set up a policy but we've just got 00:00:41.710 --> 00:00:44.190 align:start position:0% we set up a policy but we've just got the<00:00:41.800> claim<00:00:42.340> function<00:00:42.760> there<00:00:42.940> so<00:00:43.900> what<00:00:44.080> we'd 00:00:44.190 --> 00:00:44.200 align:start position:0% the claim function there so what we'd 00:00:44.200 --> 00:00:47.130 align:start position:0% the claim function there so what we'd like<00:00:44.320> to<00:00:44.440> be<00:00:44.530> able<00:00:44.620> to<00:00:44.800> do<00:00:44.920> is<00:00:45.690> we'd<00:00:46.690> like<00:00:46.870> to 00:00:47.130 --> 00:00:47.140 align:start position:0% like to be able to do is we'd like to 00:00:47.140 --> 00:00:51.300 align:start position:0% like to be able to do is we'd like to speak<00:00:47.980> to<00:00:48.040> the<00:00:48.930> absolute<00:00:49.930> contract<00:00:50.620> that 00:00:51.300 --> 00:00:51.310 align:start position:0% speak to the absolute contract that 00:00:51.310 --> 00:00:55.160 align:start position:0% speak to the absolute contract that knows<00:00:51.520> everything<00:00:51.910> and<00:00:52.120> get<00:00:52.840> the<00:00:52.870> answer<00:00:53.140> back 00:00:55.160 --> 00:00:55.170 align:start position:0% knows everything and get the answer back 00:00:55.170 --> 00:00:59.240 align:start position:0% knows everything and get the answer back doesn't<00:00:56.170> exist<00:00:56.590> and<00:00:57.360> what<00:00:58.360> is<00:00:58.510> truth<00:00:58.810> anyway 00:00:59.240 --> 00:00:59.250 align:start position:0% doesn't exist and what is truth anyway 00:00:59.250 --> 00:01:02.610 align:start position:0% doesn't exist and what is truth anyway so<00:01:00.360> today<00:01:01.360> is<00:01:01.510> just<00:01:01.540> talk<00:01:01.930> through<00:01:02.260> a<00:01:02.530> little 00:01:02.610 --> 00:01:02.620 align:start position:0% so today is just talk through a little 00:01:02.620 --> 00:01:05.760 align:start position:0% so today is just talk through a little bit<00:01:03.040> of<00:01:03.070> theory<00:01:03.839> and<00:01:04.839> then<00:01:05.259> go<00:01:05.379> into<00:01:05.530> some 00:01:05.760 --> 00:01:05.770 align:start position:0% bit of theory and then go into some 00:01:05.770 --> 00:01:09.480 align:start position:0% bit of theory and then go into some practical<00:01:07.049> problems<00:01:08.049> and<00:01:08.799> some<00:01:09.039> solutions 00:01:09.480 --> 00:01:09.490 align:start position:0% practical problems and some solutions 00:01:09.490 --> 00:01:13.039 align:start position:0% practical problems and some solutions and<00:01:09.789> then<00:01:09.999> hopefully<00:01:10.329> at<00:01:10.420> the<00:01:10.509> end<00:01:10.539> you'll<00:01:10.749> see 00:01:13.039 --> 00:01:13.049 align:start position:0% 00:01:13.049 --> 00:01:15.660 align:start position:0% so<00:01:14.049> there's<00:01:14.530> this<00:01:14.649> idea<00:01:14.920> running<00:01:15.429> right 00:01:15.660 --> 00:01:15.670 align:start position:0% so there's this idea running right 00:01:15.670 --> 00:01:17.940 align:start position:0% so there's this idea running right through<00:01:16.079> Western<00:01:17.079> civilization<00:01:17.770> right 00:01:17.940 --> 00:01:17.950 align:start position:0% through Western civilization right 00:01:17.950 --> 00:01:21.899 align:start position:0% through Western civilization right through<00:01:18.219> from<00:01:18.429> Plato<00:01:20.369> beginning<00:01:21.369> of<00:01:21.429> the<00:01:21.520> 16th 00:01:21.899 --> 00:01:21.909 align:start position:0% through from Plato beginning of the 16th 00:01:21.909 --> 00:01:26.249 align:start position:0% through from Plato beginning of the 16th century<00:01:22.030> the<00:01:23.549> objective<00:01:24.549> truth<00:01:24.899> it's<00:01:25.899> out 00:01:26.249 --> 00:01:26.259 align:start position:0% century the objective truth it's out 00:01:26.259 --> 00:01:28.649 align:start position:0% century the objective truth it's out there<00:01:26.649> it's<00:01:26.950> consistent<00:01:27.700> it's<00:01:27.909> eternal<00:01:28.479> it's 00:01:28.649 --> 00:01:28.659 align:start position:0% there it's consistent it's eternal it's 00:01:28.659 --> 00:01:32.129 align:start position:0% there it's consistent it's eternal it's absolute<00:01:29.549> and<00:01:30.549> this<00:01:30.969> originally<00:01:31.450> was<00:01:31.630> thought 00:01:32.129 --> 00:01:32.139 align:start position:0% absolute and this originally was thought 00:01:32.139 --> 00:01:34.590 align:start position:0% absolute and this originally was thought to<00:01:32.170> apply<00:01:32.590> not<00:01:32.889> just<00:01:32.920> to<00:01:33.399> kind<00:01:34.299> of<00:01:34.389> factual 00:01:34.590 --> 00:01:34.600 align:start position:0% to apply not just to kind of factual 00:01:34.600 --> 00:01:38.580 align:start position:0% to apply not just to kind of factual stuff<00:01:35.139> like<00:01:35.950> has<00:01:36.310> my<00:01:36.459> office<00:01:36.700> burned<00:01:36.909> down<00:01:37.590> but 00:01:38.580 --> 00:01:38.590 align:start position:0% stuff like has my office burned down but 00:01:38.590 --> 00:01:47.069 align:start position:0% stuff like has my office burned down but also<00:01:38.770> to<00:01:39.689> moral<00:01:40.689> stuff<00:01:41.549> to<00:01:42.549> values<00:01:44.429> then<00:01:46.079> and 00:01:47.069 --> 00:01:47.079 align:start position:0% also to moral stuff to values then and 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hierarchy<00:01:55.270> so<00:01:56.020> you<00:01:56.079> had<00:01:56.289> the<00:01:56.409> Pope<00:01:56.590> at<00:01:56.799> the<00:01:56.859> top 00:01:57.059 --> 00:01:57.069 align:start position:0% hierarchy so you had the Pope at the top 00:01:57.069 --> 00:01:59.309 align:start position:0% hierarchy so you had the Pope at the top and<00:01:57.279> the<00:01:57.579> Pope<00:01:57.759> was<00:01:57.969> infallible<00:01:58.240> so<00:01:59.170> you've 00:01:59.309 --> 00:01:59.319 align:start position:0% and the Pope was infallible so you've 00:01:59.319 --> 00:02:01.589 align:start position:0% and the Pope was infallible so you've got<00:01:59.469> objective<00:01:59.920> truth<00:02:00.340> and<00:02:00.579> you<00:02:01.029> you<00:02:01.389> can 00:02:01.589 --> 00:02:01.599 align:start position:0% got objective truth and you you can 00:02:01.599 --> 00:02:02.849 align:start position:0% got objective truth and you you can pretty<00:02:01.810> much<00:02:01.869> find<00:02:02.079> out<00:02:02.259> what<00:02:02.380> it<00:02:02.469> is<00:02:02.560> at<00:02:02.740> least 00:02:02.849 --> 00:02:02.859 align:start position:0% pretty much find out what it is at least 00:02:02.859 --> 00:02:05.910 align:start position:0% pretty much find out what it is at least about<00:02:03.099> certain<00:02:03.369> things<00:02:03.599> and<00:02:04.599> then<00:02:05.049> in<00:02:05.229> the 00:02:05.910 --> 00:02:05.920 align:start position:0% about certain things and then in the 00:02:05.920 --> 00:02:08.850 align:start position:0% about certain things and then in the 16th<00:02:06.369> century<00:02:06.599> Martin<00:02:07.599> Luther<00:02:07.959> made<00:02:08.440> his<00:02:08.590> epic 00:02:08.850 --> 00:02:08.860 align:start position:0% 16th century Martin Luther made his epic 00:02:08.860 --> 00:02:11.400 align:start position:0% 16th century Martin Luther made his epic post<00:02:09.369> nailed<00:02:10.240> to<00:02:10.509> a<00:02:10.540> door<00:02:10.750> on<00:02:10.780> a<00:02:11.170> church 00:02:11.400 --> 00:02:11.410 align:start position:0% post nailed to a door on a church 00:02:11.410 --> 00:02:13.500 align:start position:0% post nailed to a door on a church in<00:02:11.560> Germany<00:02:11.740> allegedly<00:02:12.520> this<00:02:12.790> is<00:02:12.910> this<00:02:13.390> is 00:02:13.500 --> 00:02:13.510 align:start position:0% in Germany allegedly this is this is 00:02:13.510 --> 00:02:15.520 align:start position:0% in Germany allegedly this is this is disputed<00:02:13.990> and<00:02:14.830> he<00:02:15.070> said 00:02:15.520 --> 00:02:15.530 align:start position:0% disputed and he said 00:02:15.530 --> 00:02:17.140 align:start position:0% disputed and he said wrong<00:02:15.860> and<00:02:16.220> after<00:02:16.430> that<00:02:16.550> we<00:02:16.700> had<00:02:16.850> kind<00:02:17.030> of 00:02:17.140 --> 00:02:17.150 align:start position:0% wrong and after that we had kind of 00:02:17.150 --> 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one<00:02:27.110> of<00:02:27.230> the<00:02:27.350> strategies<00:02:27.620> that 00:02:28.030 --> 00:02:28.040 align:start position:0% truth and one of the strategies that 00:02:28.040 --> 00:02:29.980 align:start position:0% truth and one of the strategies that allowed<00:02:28.700> people<00:02:28.940> to<00:02:29.150> stop<00:02:29.600> killing<00:02:29.840> each 00:02:29.980 --> 00:02:29.990 align:start position:0% allowed people to stop killing each 00:02:29.990 --> 00:02:33.370 align:start position:0% allowed people to stop killing each other<00:02:30.290> and<00:02:31.040> live<00:02:31.250> together<00:02:31.870> was<00:02:32.870> to<00:02:33.020> separate 00:02:33.370 --> 00:02:33.380 align:start position:0% other and live together was to separate 00:02:33.380 --> 00:02:36.580 align:start position:0% other and live together was to separate truth<00:02:33.530> into<00:02:33.890> different<00:02:34.130> baskets<00:02:34.540> so<00:02:35.540> you<00:02:36.410> have 00:02:36.580 --> 00:02:36.590 align:start position:0% truth into different baskets so you have 00:02:36.590 --> 00:02:38.380 align:start position:0% truth into different baskets so you have things<00:02:36.739> like<00:02:36.890> scientific<00:02:37.610> truth<00:02:37.850> which<00:02:38.239> is 00:02:38.380 --> 00:02:38.390 align:start position:0% things like scientific truth which is 00:02:38.390 --> 00:02:39.790 align:start position:0% things like scientific truth which is considered<00:02:38.840> kind<00:02:38.959> of<00:02:39.050> objective<00:02:39.590> and<00:02:39.770> that 00:02:39.790 --> 00:02:39.800 align:start position:0% considered kind of objective and that 00:02:39.800 --> 00:02:42.880 align:start position:0% considered kind of objective and that you<00:02:40.069> shouldn't<00:02:40.400> really<00:02:40.850> disagree<00:02:41.390> about<00:02:41.890> and 00:02:42.880 --> 00:02:42.890 align:start position:0% you shouldn't really disagree about and 00:02:42.890 --> 00:02:44.949 align:start position:0% you shouldn't really disagree about and then<00:02:43.130> you<00:02:43.280> had<00:02:43.430> other<00:02:43.580> value<00:02:43.970> judgments<00:02:44.930> that 00:02:44.949 --> 00:02:44.959 align:start position:0% then you had other value judgments that 00:02:44.959 --> 00:02:46.540 align:start position:0% then you had other value judgments that were<00:02:45.290> we're<00:02:45.650> not<00:02:45.830> we're<00:02:46.040> not<00:02:46.069> considered 00:02:46.540 --> 00:02:46.550 align:start position:0% were we're not we're not considered 00:02:46.550 --> 00:02:50.820 align:start position:0% were we're not we're not considered objective<00:02:47.140> and<00:02:48.140> even<00:02:48.590> this<00:02:48.739> bit<00:02:49.070> of 00:02:50.820 --> 00:02:50.830 align:start position:0% objective and even this bit of 00:02:50.830 --> 00:02:53.020 align:start position:0% objective and even this bit of objectivity<00:02:51.830> is<00:02:52.160> something<00:02:52.550> that<00:02:52.700> some 00:02:53.020 --> 00:02:53.030 align:start position:0% objectivity is something that some 00:02:53.030 --> 00:02:54.520 align:start position:0% objectivity is something that some recent<00:02:53.269> philosophers<00:02:53.959> have<00:02:54.080> got<00:02:54.200> a<00:02:54.230> little 00:02:54.520 --> 00:02:54.530 align:start position:0% recent philosophers have got a little 00:02:54.530 --> 00:02:57.759 align:start position:0% recent philosophers have got a little bit<00:02:54.650> suspicious<00:02:54.860> of<00:02:55.780> so<00:02:56.780> post<00:02:57.110> modernists 00:02:57.759 --> 00:02:57.769 align:start position:0% bit suspicious of so post modernists 00:02:57.769 --> 00:03:00.360 align:start position:0% bit suspicious of so post modernists think<00:02:58.489> something<00:02:59.000> more<00:02:59.209> like<00:02:59.420> this 00:03:00.360 --> 00:03:00.370 align:start position:0% think something more like this 00:03:00.370 --> 00:03:04.180 align:start position:0% think something more like this disagreement<00:03:01.370> in<00:03:01.790> language<00:03:02.230> so<00:03:03.230> the<00:03:03.769> idea<00:03:04.040> is 00:03:04.180 --> 00:03:04.190 align:start position:0% disagreement in language so the idea is 00:03:04.190 --> 00:03:07.960 align:start position:0% disagreement in language so the idea is that<00:03:05.019> when<00:03:06.019> we<00:03:06.260> make<00:03:07.069> claims<00:03:07.370> we're<00:03:07.700> playing<00:03:07.910> a 00:03:07.960 --> 00:03:07.970 align:start position:0% that when we make claims we're playing a 00:03:07.970 --> 00:03:11.140 align:start position:0% that when we make claims we're playing a language<00:03:08.330> game<00:03:08.769> we've<00:03:09.769> got<00:03:10.069> a<00:03:10.459> kind<00:03:10.910> of<00:03:11.090> a 00:03:11.140 --> 00:03:11.150 align:start position:0% language game we've got a kind of a 00:03:11.150 --> 00:03:15.309 align:start position:0% language game we've got a kind of a consensus<00:03:11.959> system<00:03:12.769> and<00:03:13.930> something<00:03:14.930> is<00:03:15.019> true 00:03:15.309 --> 00:03:15.319 align:start position:0% consensus system and something is true 00:03:15.319 --> 00:03:17.530 align:start position:0% consensus system and something is true to<00:03:15.500> the<00:03:15.620> extent<00:03:16.040> that<00:03:16.130> it<00:03:16.700> follows<00:03:17.180> the<00:03:17.360> rules 00:03:17.530 --> 00:03:17.540 align:start position:0% to the extent that it follows the rules 00:03:17.540 --> 00:03:20.340 align:start position:0% to the extent that it follows the rules of<00:03:17.720> that<00:03:17.780> language<00:03:18.170> game<00:03:18.410> right<00:03:18.890> so<00:03:19.459> it's<00:03:19.640> true 00:03:20.340 --> 00:03:20.350 align:start position:0% of that language game right so it's true 00:03:20.350 --> 00:03:27.970 align:start position:0% of that language game right so it's true if<00:03:21.350> you<00:03:21.590> obey<00:03:22.160> the<00:03:22.280> consensus<00:03:22.730> rules<00:03:26.470> now<00:03:27.470> well 00:03:27.970 --> 00:03:27.980 align:start position:0% if you obey the consensus rules now well 00:03:27.980 --> 00:03:29.050 align:start position:0% if you obey the consensus rules now well this<00:03:28.100> has<00:03:28.250> been<00:03:28.280> going<00:03:28.640> on<00:03:28.700> there's<00:03:28.910> something 00:03:29.050 --> 00:03:29.060 align:start position:0% this has been going on there's something 00:03:29.060 --> 00:03:33.880 align:start position:0% this has been going on there's something kind<00:03:29.390> of<00:03:29.450> weird<00:03:29.600> happening<00:03:30.019> in<00:03:30.140> politics<00:03:32.890> the 00:03:33.880 --> 00:03:33.890 align:start position:0% kind of weird happening in politics the 00:03:33.890 --> 00:03:35.650 align:start position:0% kind of weird happening in politics the internet<00:03:34.310> is<00:03:34.430> having<00:03:34.730> this<00:03:34.850> weird<00:03:35.180> kind<00:03:35.570> of 00:03:35.650 --> 00:03:35.660 align:start position:0% internet is having this weird kind of 00:03:35.660 --> 00:03:40.840 align:start position:0% internet is having this weird kind of crisis<00:03:36.320> about<00:03:37.010> truth<00:03:37.900> so<00:03:39.100> we've<00:03:40.100> got<00:03:40.430> on<00:03:40.640> the 00:03:40.840 --> 00:03:40.850 align:start position:0% crisis about truth so we've got on the 00:03:40.850 --> 00:03:43.960 align:start position:0% crisis about truth so we've got on the one<00:03:41.000> hand<00:03:41.239> this<00:03:41.390> vast<00:03:42.130> internet<00:03:43.130> knowledge 00:03:43.960 --> 00:03:43.970 align:start position:0% one hand this vast internet knowledge 00:03:43.970 --> 00:03:47.310 align:start position:0% one hand this vast internet knowledge but<00:03:44.630> at<00:03:44.780> the<00:03:44.870> same<00:03:45.109> time<00:03:45.380> you've<00:03:45.650> got<00:03:45.709> people 00:03:47.310 --> 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deciding<00:03:57.320> presidential<00:03:57.799> elections<00:03:58.420> and 00:03:59.410 --> 00:03:59.420 align:start position:0% and deciding presidential elections and 00:03:59.420 --> 00:04:09.030 align:start position:0% and deciding presidential elections and this<00:03:59.600> is<00:03:59.750> for<00:04:00.590> two<00:04:00.739> reasons<00:04:01.160> the<00:04:01.310> first 00:04:09.030 --> 00:04:09.040 align:start position:0% 00:04:09.040 --> 00:04:13.720 align:start position:0% created<00:04:10.040> to<00:04:10.910> help<00:04:11.150> with<00:04:11.390> the<00:04:11.630> problem<00:04:12.730> and 00:04:13.720 --> 00:04:13.730 align:start position:0% created to help with the problem and 00:04:13.730 --> 00:04:14.979 align:start position:0% created to help with the problem and then<00:04:13.940> I<00:04:13.970> want<00:04:14.359> to<00:04:14.420> talk<00:04:14.510> about<00:04:14.720> an<00:04:14.810> approach 00:04:14.979 --> 00:04:14.989 align:start position:0% then I want to talk about an approach 00:04:14.989 --> 00:04:16.719 align:start position:0% then I want to talk about an approach called<00:04:15.350> subjective<00:04:15.859> accuracy<00:04:16.310> which<00:04:16.489> can 00:04:16.719 --> 00:04:16.729 align:start position:0% called subjective accuracy which can 00:04:16.729 --> 00:04:22.270 align:start position:0% called subjective accuracy which can help<00:04:16.910> with<00:04:17.090> the<00:04:17.500> perspective<00:04:18.500> problem<00:04:21.280> so 00:04:22.270 --> 00:04:22.280 align:start position:0% help with the perspective problem so 00:04:22.280 --> 00:04:23.409 align:start position:0% help with the perspective problem so there<00:04:22.610> are<00:04:22.700> people<00:04:22.820> out<00:04:23.060> there<00:04:23.270> on<00:04:23.390> Facebook 00:04:23.409 --> 00:04:23.419 align:start position:0% there are people out there on Facebook 00:04:23.419 --> 00:04:26.500 align:start position:0% there are people out there on Facebook who<00:04:24.169> are<00:04:24.289> trying<00:04:24.560> to<00:04:24.740> hack<00:04:25.010> your<00:04:25.159> brain 00:04:26.500 --> 00:04:26.510 align:start position:0% who are trying to hack your brain 00:04:26.510 --> 00:04:28.839 align:start position:0% who are trying to hack your brain anyone<00:04:27.380> in<00:04:27.500> your<00:04:27.620> social<00:04:27.830> network 00:04:28.839 --> 00:04:28.849 align:start position:0% anyone in your social network 00:04:28.849 --> 00:04:31.959 align:start position:0% anyone in your social network or<00:04:28.909> any<00:04:29.569> paid<00:04:29.899> advertiser<00:04:30.409> can<00:04:31.189> push<00:04:31.550> claims 00:04:31.959 --> 00:04:31.969 align:start position:0% or any paid advertiser can push claims 00:04:31.969 --> 00:04:34.149 align:start position:0% or any paid advertiser can push claims into<00:04:32.270> your<00:04:32.479> stream<00:04:32.749> and<00:04:33.080> you<00:04:33.770> have<00:04:33.919> to<00:04:34.039> work 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spend a lot of time and money evaluating 00:04:41.479 --> 00:04:42.820 align:start position:0% spend a lot of time and money evaluating it<00:04:41.599> and<00:04:41.749> researching<00:04:42.289> it<00:04:42.409> then<00:04:42.559> you<00:04:42.709> could 00:04:42.820 --> 00:04:42.830 align:start position:0% it and researching it then you could 00:04:42.830 --> 00:04:45.399 align:start position:0% it and researching it then you could probably<00:04:43.569> do<00:04:44.569> quite<00:04:44.809> a<00:04:44.839> good<00:04:45.050> job<00:04:45.229> of<00:04:45.319> getting 00:04:45.399 --> 00:04:45.409 align:start position:0% probably do quite a good job of getting 00:04:45.409 --> 00:04:49.449 align:start position:0% probably do quite a good job of getting to<00:04:45.529> the<00:04:45.679> bottom<00:04:46.159> of<00:04:46.249> it<00:04:46.369> but<00:04:48.189> since<00:04:49.189> you're<00:04:49.339> not 00:04:49.449 --> 00:04:49.459 align:start position:0% to the bottom of it but since you're not 00:04:49.459 --> 00:04:51.779 align:start position:0% to the bottom of it but since you're not prepared<00:04:49.819> to<00:04:49.879> do<00:04:50.059> that<00:04:50.089> you<00:04:50.929> end<00:04:51.139> up 00:04:51.779 --> 00:04:51.789 align:start position:0% prepared to do that you end up 00:04:51.789 --> 00:04:53.949 align:start position:0% prepared to do that you end up potentially<00:04:52.789> believe<00:04:53.029> leaving<00:04:53.689> a<00:04:53.719> lot<00:04:53.869> of 00:04:53.949 --> 00:04:53.959 align:start position:0% potentially believe leaving a lot of 00:04:53.959 --> 00:04:57.189 align:start position:0% potentially believe leaving a lot of and<00:04:55.520> this<00:04:55.849> is<00:04:56.059> a<00:04:56.089> kind<00:04:56.599> of<00:04:56.659> a<00:04:56.749> pattern 00:04:57.189 --> 00:04:57.199 align:start position:0% and this is a kind of a pattern 00:04:57.199 --> 00:04:58.600 align:start position:0% and this is a kind of a pattern that<00:04:57.229> you<00:04:57.469> see<00:04:57.679> a<00:04:57.709> lot<00:04:57.919> in<00:04:58.069> information 00:04:58.600 --> 00:04:58.610 align:start position:0% that you see a lot in information 00:04:58.610 --> 00:05:01.629 align:start position:0% that you see a lot in information security<00:04:59.379> and<00:05:00.379> also<00:05:00.740> in<00:05:00.889> for<00:05:01.039> example<00:05:01.369> missile 00:05:01.629 --> 00:05:01.639 align:start position:0% security and also in for example missile 00:05:01.639 --> 00:05:03.969 align:start position:0% security and also in for example missile defense<00:05:01.969> there's<00:05:02.449> this<00:05:02.569> asymmetry<00:05:03.379> between 00:05:03.969 --> 00:05:03.979 align:start position:0% defense there's this asymmetry between 00:05:03.979 --> 00:05:06.009 align:start position:0% defense there's this asymmetry between the<00:05:04.429> attackers<00:05:04.849> job<00:05:05.089> and<00:05:05.269> the<00:05:05.389> defenders<00:05:05.779> job 00:05:06.009 --> 00:05:06.019 align:start position:0% the attackers job and the defenders job 00:05:06.019 --> 00:05:08.019 align:start position:0% the attackers job and the defenders job because<00:05:06.860> the<00:05:06.949> attacker<00:05:07.279> can<00:05:07.550> just<00:05:07.729> hit<00:05:07.849> us 00:05:08.019 --> 00:05:08.029 align:start position:0% because the attacker can just hit us 00:05:08.029 --> 00:05:09.759 align:start position:0% because the attacker can just hit us with<00:05:08.059> the<00:05:08.240> entire<00:05:08.539> this<00:05:08.899> entire<00:05:09.199> barrage<00:05:09.559> of 00:05:09.759 --> 00:05:09.769 align:start position:0% with the entire this entire barrage of 00:05:09.769 --> 00:05:13.209 align:start position:0% with the entire this entire barrage of and<00:05:11.360> we've<00:05:12.259> got<00:05:12.499> to<00:05:12.619> defend<00:05:12.949> every 00:05:13.209 --> 00:05:13.219 align:start position:0% and we've got to defend every 00:05:13.219 --> 00:05:15.969 align:start position:0% and we've got to defend every time<00:05:13.459> to<00:05:13.639> be<00:05:13.729> successful<00:05:14.349> and<00:05:15.349> even<00:05:15.679> if<00:05:15.830> the 00:05:15.969 --> 00:05:15.979 align:start position:0% time to be successful and even if the 00:05:15.979 --> 00:05:17.859 align:start position:0% time to be successful and even if the attacker<00:05:16.309> can't<00:05:16.729> manage<00:05:17.209> to<00:05:17.330> get<00:05:17.689> their 00:05:17.859 --> 00:05:17.869 align:start position:0% attacker can't manage to get their 00:05:17.869 --> 00:05:19.719 align:start position:0% attacker can't manage to get their through<00:05:18.349> every<00:05:18.619> time<00:05:18.860> they<00:05:19.519> can 00:05:19.719 --> 00:05:19.729 align:start position:0% through every time they can 00:05:19.729 --> 00:05:20.889 align:start position:0% through every time they can bring<00:05:19.879> off<00:05:19.999> a<00:05:20.029> kind<00:05:20.269> of<00:05:20.360> a<00:05:20.419> denial<00:05:20.779> of<00:05:20.839> service 00:05:20.889 --> 00:05:20.899 align:start position:0% bring off a kind of a denial of service 00:05:20.899 --> 00:05:22.689 align:start position:0% bring off a kind of a denial of service attack<00:05:21.409> against<00:05:21.769> the<00:05:21.860> truth<00:05:22.069> because<00:05:22.459> if<00:05:22.550> you 00:05:22.689 --> 00:05:22.699 align:start position:0% attack against the truth because if you 00:05:22.699 --> 00:05:24.999 align:start position:0% attack against the truth because if you can<00:05:22.819> hit<00:05:22.939> people<00:05:23.269> with<00:05:23.330> enough<00:05:23.599> stories<00:05:24.080> and 00:05:24.999 --> 00:05:25.009 align:start position:0% can hit people with enough stories and 00:05:25.009 --> 00:05:27.100 align:start position:0% can hit people with enough stories and enough<00:05:25.219> claims<00:05:25.550> they<00:05:26.479> just<00:05:26.689> lose<00:05:26.839> confidence 00:05:27.100 --> 00:05:27.110 align:start position:0% enough claims they just lose confidence 00:05:27.110 --> 00:05:29.049 align:start position:0% enough claims they just lose confidence that<00:05:27.559> they<00:05:27.679> can<00:05:27.830> evaluate<00:05:27.979> any<00:05:28.369> of<00:05:28.550> them<00:05:28.759> and 00:05:29.049 --> 00:05:29.059 align:start position:0% that they can evaluate any of them and 00:05:29.059 --> 00:05:30.790 align:start position:0% that they can evaluate any of them and then<00:05:29.599> when<00:05:29.749> they<00:05:29.779> see<00:05:30.019> something<00:05:30.259> true<00:05:30.619> they 00:05:30.790 --> 00:05:30.800 align:start position:0% then when they see something true they 00:05:30.800 --> 00:05:32.889 align:start position:0% then when they see something true they they<00:05:31.249> can't<00:05:31.490> they<00:05:32.300> can't<00:05:32.509> they<00:05:32.599> can't 00:05:32.889 --> 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to<00:05:39.409> do<00:05:39.740> is<00:05:40.099> to<00:05:40.579> increase 00:05:41.259 --> 00:05:41.269 align:start position:0% so what we've tried to do is to increase 00:05:41.269 --> 00:05:43.869 align:start position:0% so what we've tried to do is to increase the<00:05:41.689> cost<00:05:42.259> of<00:05:42.409> attacking<00:05:43.069> and<00:05:43.279> decrease<00:05:43.699> the 00:05:43.869 --> 00:05:43.879 align:start position:0% the cost of attacking and decrease the 00:05:43.879 --> 00:05:46.600 align:start position:0% the cost of attacking and decrease the top<00:05:44.029> the<00:05:44.240> cost<00:05:44.629> of<00:05:44.749> defense<00:05:45.319> so<00:05:46.219> this<00:05:46.430> is 00:05:46.600 --> 00:05:46.610 align:start position:0% top the cost of defense so this is 00:05:46.610 --> 00:05:49.029 align:start position:0% top the cost of defense so this is reality<00:05:46.909> check<00:05:47.439> this<00:05:48.439> is<00:05:48.529> Mechanical<00:05:49.009> Turk 00:05:49.029 --> 00:05:49.039 align:start position:0% reality check this is Mechanical Turk 00:05:49.039 --> 00:05:53.170 align:start position:0% reality check this is Mechanical Turk meets<00:05:50.029> Snopes<00:05:50.990> on<00:05:51.229> the<00:05:51.289> blockchain<00:05:52.029> the<00:05:53.029> rule 00:05:53.170 --> 00:05:53.180 align:start position:0% meets Snopes on the blockchain the rule 00:05:53.180 --> 00:05:54.909 align:start position:0% meets Snopes on the blockchain the rule is<00:05:53.329> that<00:05:53.509> anybody<00:05:53.839> can<00:05:54.019> ask<00:05:54.139> a<00:05:54.349> question<00:05:54.379> and 00:05:54.909 --> 00:05:54.919 align:start position:0% is that anybody can ask a question and 00:05:54.919 --> 00:05:58.419 align:start position:0% is that anybody can ask a question and anybody<00:05:55.789> can<00:05:56.029> answer<00:05:56.119> a<00:05:56.329> question<00:05:57.009> and<00:05:58.009> that 00:05:58.419 --> 00:05:58.429 align:start position:0% anybody can answer a question and that 00:05:58.429 --> 00:06:00.249 align:start position:0% anybody can answer a question and that anybody<00:05:58.819> can<00:05:59.029> be<00:05:59.179> you<00:05:59.360> or<00:05:59.629> it<00:05:59.899> can<00:06:00.019> be<00:06:00.139> your 00:06:00.249 --> 00:06:00.259 align:start position:0% anybody can be you or it can be your 00:06:00.259 --> 00:06:03.129 align:start position:0% anybody can be you or it can be your contract<00:06:00.649> so<00:06:01.519> we<00:06:01.699> make<00:06:01.849> no<00:06:02.029> no<00:06:02.360> no<00:06:02.719> distinction 00:06:03.129 --> 00:06:03.139 align:start position:0% contract so we make no no no distinction 00:06:03.139 --> 00:06:04.929 align:start position:0% contract so we make no no no distinction there<00:06:03.289> and<00:06:03.499> the<00:06:04.129> goal<00:06:04.279> is<00:06:04.490> that<00:06:04.610> people<00:06:04.849> who 00:06:04.929 --> 00:06:04.939 align:start position:0% there and the goal is that people who 00:06:04.939 --> 00:06:06.459 align:start position:0% there and the goal is that people who give<00:06:05.089> the<00:06:05.209> right<00:06:05.389> answer<00:06:05.929> are<00:06:06.110> going<00:06:06.259> to<00:06:06.319> get 00:06:06.459 --> 00:06:06.469 align:start position:0% give the right answer are going to get 00:06:06.469 --> 00:06:08.169 align:start position:0% give the right answer are going to get rewarded<00:06:07.069> and<00:06:07.159> make<00:06:07.279> profits<00:06:07.639> and<00:06:07.849> people<00:06:08.089> who 00:06:08.169 --> 00:06:08.179 align:start position:0% rewarded and make profits and people who 00:06:08.179 --> 00:06:09.339 align:start position:0% rewarded and make profits and people who give<00:06:08.329> the<00:06:08.479> wrong<00:06:08.599> answer<00:06:08.659> are<00:06:09.079> going<00:06:09.199> to<00:06:09.259> make 00:06:09.339 --> 00:06:09.349 align:start position:0% give the wrong answer are going to make 00:06:09.349 --> 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using a contract so we're passing in<00:06:20.869> a<00:06:20.990> template<00:06:21.589> ID<00:06:21.800> there<00:06:22.099> that<00:06:22.249> I<00:06:22.339> won't<00:06:22.519> get 00:06:22.629 --> 00:06:22.639 align:start position:0% in a template ID there that I won't get 00:06:22.639 --> 00:06:25.719 align:start position:0% in a template ID there that I won't get into<00:06:23.469> there's<00:06:24.469> also<00:06:24.619> the<00:06:25.249> text<00:06:25.550> of<00:06:25.639> the 00:06:25.719 --> 00:06:25.729 align:start position:0% into there's also the text of the 00:06:25.729 --> 00:06:27.730 align:start position:0% into there's also the text of the question<00:06:25.819> a<00:06:26.360> challenge<00:06:26.779> timeout<00:06:27.229> and<00:06:27.469> an 00:06:27.730 --> 00:06:27.740 align:start position:0% question a challenge timeout and an 00:06:27.740 --> 00:06:29.969 align:start position:0% question a challenge timeout and an arbitrator<00:06:28.099> I'll<00:06:28.429> say<00:06:28.610> the<00:06:29.240> arbitrator<00:06:29.599> later 00:06:29.969 --> 00:06:29.979 align:start position:0% arbitrator I'll say the arbitrator later 00:06:29.979 --> 00:06:32.079 align:start position:0% arbitrator I'll say the arbitrator later so<00:06:30.979> the<00:06:31.189> question<00:06:31.490> is<00:06:31.579> going<00:06:31.669> to<00:06:31.729> show<00:06:31.879> up<00:06:31.969> on 00:06:32.079 --> 00:06:32.089 align:start position:0% so the question is going to show up on 00:06:32.089 --> 00:06:33.549 align:start position:0% so the question is going to show up on the<00:06:32.149> blockchain<00:06:32.389> and<00:06:32.569> therefore<00:06:33.349> on<00:06:33.439> this 00:06:33.549 --> 00:06:33.559 align:start position:0% the blockchain and therefore on this 00:06:33.559 --> 00:06:38.110 align:start position:0% the blockchain and therefore on this website<00:06:34.719> and<00:06:35.719> you<00:06:36.679> can<00:06:36.889> come<00:06:37.069> out<00:06:37.219> come<00:06:37.819> in<00:06:37.909> if 00:06:38.110 --> 00:06:38.120 align:start position:0% website and you can come out come in if 00:06:38.120 --> 00:06:39.040 align:start position:0% website and you can come out come in if you<00:06:38.209> see<00:06:38.360> a<00:06:38.389> question<00:06:38.719> you<00:06:38.809> know<00:06:38.930> the<00:06:38.959> answer 00:06:39.040 --> 00:06:39.050 align:start position:0% you see a question you know the answer 00:06:39.050 --> 00:06:40.989 align:start position:0% you see a question you know the answer to<00:06:39.349> then<00:06:39.649> you<00:06:39.800> can<00:06:40.039> post<00:06:40.339> and 00:06:40.989 --> 00:06:40.999 align:start position:0% to then you can post and 00:06:40.999 --> 00:06:44.369 align:start position:0% to then you can post and like<00:06:41.299> this<00:06:41.829> or<00:06:42.829> from<00:06:42.979> a<00:06:43.099> contract<00:06:43.489> like<00:06:43.610> this 00:06:44.369 --> 00:06:44.379 align:start position:0% like this or from a contract like this 00:06:44.379 --> 00:06:46.659 align:start position:0% like this or from a contract like this now<00:06:45.379> when<00:06:45.589> you<00:06:45.709> post<00:06:45.919> an<00:06:46.069> answer<00:06:46.219> you're<00:06:46.519> also 00:06:46.659 --> 00:06:46.669 align:start position:0% now when you post an answer you're also 00:06:46.669 --> 00:06:49.929 align:start position:0% now when you post an answer you're also sending<00:06:46.969> some<00:06:47.239> money<00:06:47.739> this<00:06:48.739> is<00:06:48.949> a<00:06:49.159> bond<00:06:49.399> so 00:06:49.929 --> 00:06:49.939 align:start position:0% sending some money this is a bond so 00:06:49.939 --> 00:06:51.339 align:start position:0% sending some money this is a bond so this<00:06:50.089> is<00:06:50.239> money<00:06:50.449> that<00:06:50.539> you're<00:06:50.899> going<00:06:51.079> to<00:06:51.139> lose 00:06:51.339 --> 00:06:51.349 align:start position:0% this is money that you're going to lose 00:06:51.349 --> 00:06:54.369 align:start position:0% this is money that you're going to lose if<00:06:51.829> you're<00:06:52.219> wrong<00:06:52.489> and<00:06:52.789> you're<00:06:53.599> gonna<00:06:53.839> get<00:06:54.319> a 00:06:54.369 --> 00:06:54.379 align:start position:0% if you're wrong and you're gonna get a 00:06:54.379 --> 00:06:55.779 align:start position:0% if you're wrong and you're gonna get a get<00:06:54.529> back<00:06:54.709> if<00:06:54.829> you're<00:06:54.949> right 00:06:55.779 --> 00:06:55.789 align:start position:0% get back if you're right 00:06:55.789 --> 00:06:58.329 align:start position:0% get back if you're right and<00:06:56.239> by<00:06:56.419> wrong<00:06:56.719> and<00:06:56.869> right<00:06:57.019> I<00:06:57.079> mean<00:06:57.379> that<00:06:58.159> your 00:06:58.329 --> 00:06:58.339 align:start position:0% and by wrong and right I mean that your 00:06:58.339 --> 00:07:00.609 align:start position:0% and by wrong and right I mean that your answer<00:06:58.639> whether<00:06:59.029> your<00:06:59.239> answer<00:06:59.599> is<00:06:59.749> decided<00:07:00.529> by 00:07:00.609 --> 00:07:00.619 align:start position:0% answer whether your answer is decided by 00:07:00.619 --> 00:07:05.049 align:start position:0% answer whether your answer is decided by the<00:07:00.649> system<00:07:01.039> as<00:07:01.129> the<00:07:01.219> final<00:07:01.459> answer<00:07:02.889> now<00:07:04.059> every 00:07:05.049 --> 00:07:05.059 align:start position:0% the system as the final answer now every 00:07:05.059 --> 00:07:07.209 align:start position:0% the system as the final answer now every time<00:07:05.179> you<00:07:05.449> you<00:07:05.749> post<00:07:05.989> an<00:07:06.139> answer<00:07:06.289> if<00:07:06.649> you<00:07:07.069> see 00:07:07.209 --> 00:07:07.219 align:start position:0% time you you post an answer if you see 00:07:07.219 --> 00:07:08.589 align:start position:0% time you you post an answer if you see an<00:07:07.309> answer<00:07:07.429> that's<00:07:07.669> wrong<00:07:07.759> and<00:07:08.209> you<00:07:08.269> want<00:07:08.449> to 00:07:08.589 --> 00:07:08.599 align:start position:0% an answer that's wrong and you want to 00:07:08.599 --> 00:07:11.469 align:start position:0% an answer that's wrong and you want to correct<00:07:09.049> that<00:07:09.289> answer<00:07:09.969> you<00:07:10.969> can<00:07:11.119> always<00:07:11.329> do 00:07:11.469 --> 00:07:11.479 align:start position:0% correct that answer you can always do 00:07:11.479 --> 00:07:14.669 align:start position:0% correct that answer you can always do that<00:07:11.509> but<00:07:11.839> you<00:07:11.959> have<00:07:12.079> to<00:07:12.199> double<00:07:12.439> the<00:07:12.529> bond<00:07:12.909> so 00:07:14.669 --> 00:07:14.679 align:start position:0% that but you have to double the bond so 00:07:14.679 --> 00:07:17.639 align:start position:0% that but you have to double the bond so once<00:07:15.679> that's<00:07:15.949> happened<00:07:16.099> once<00:07:17.089> the<00:07:17.209> timeout 00:07:17.639 --> 00:07:17.649 align:start position:0% once that's happened once the timeout 00:07:17.649 --> 00:07:22.329 align:start position:0% once that's happened once the timeout period<00:07:18.649> is<00:07:18.769> elapsed<00:07:20.379> you<00:07:21.379> can<00:07:21.649> get<00:07:21.979> the<00:07:22.069> final 00:07:22.329 --> 00:07:22.339 align:start position:0% period is elapsed you can get the final 00:07:22.339 --> 00:07:24.459 align:start position:0% period is elapsed you can get the final answer<00:07:22.399> from<00:07:22.729> your<00:07:22.789> contract<00:07:23.179> like<00:07:23.299> this<00:07:23.479> so 00:07:24.459 --> 00:07:24.469 align:start position:0% answer from your contract like this so 00:07:24.469 --> 00:07:25.899 align:start position:0% answer from your contract like this so if<00:07:24.559> we<00:07:24.709> know<00:07:24.799> the<00:07:24.919> question<00:07:25.249> ID<00:07:25.399> we<00:07:25.610> just<00:07:25.759> pull 00:07:25.899 --> 00:07:25.909 align:start position:0% if we know the question ID we just pull 00:07:25.909 --> 00:07:30.189 align:start position:0% if we know the question ID we just pull it<00:07:25.999> in<00:07:26.529> give<00:07:27.529> us<00:07:27.589> our<00:07:27.709> answer<00:07:28.809> sometimes<00:07:29.809> you 00:07:30.189 --> 00:07:30.199 align:start position:0% it in give us our answer sometimes you 00:07:30.199 --> 00:07:31.359 align:start position:0% it in give us our answer sometimes you want<00:07:30.379> to<00:07:30.409> do<00:07:30.499> something<00:07:30.860> more<00:07:30.979> like<00:07:31.039> this 00:07:31.359 --> 00:07:31.369 align:start position:0% want to do something more like this 00:07:31.369 --> 00:07:33.399 align:start position:0% want to do something more like this sometimes<00:07:31.729> you<00:07:32.299> didn't<00:07:32.899> ask<00:07:33.139> the<00:07:33.289> question 00:07:33.399 --> 00:07:33.409 align:start position:0% sometimes you didn't ask the question 00:07:33.409 --> 00:07:36.219 align:start position:0% sometimes you didn't ask the question yourself<00:07:34.159> but<00:07:34.939> you<00:07:35.059> want<00:07:35.089> to<00:07:35.299> take<00:07:35.479> any<00:07:35.749> answer 00:07:36.219 --> 00:07:36.229 align:start position:0% yourself but you want to take any answer 00:07:36.229 --> 00:07:37.839 align:start position:0% yourself but you want to take any answer that<00:07:36.409> adequately<00:07:36.949> answers<00:07:37.399> a<00:07:37.429> particular 00:07:37.839 --> 00:07:37.849 align:start position:0% that adequately answers a particular 00:07:37.849 --> 00:07:40.029 align:start position:0% that adequately answers a particular question<00:07:38.439> also<00:07:39.439> with<00:07:39.619> a<00:07:39.649> reasonable 00:07:40.029 --> 00:07:40.039 align:start position:0% question also with a reasonable 00:07:40.039 --> 00:07:41.589 align:start position:0% question also with a reasonable arbitrator<00:07:40.399> and<00:07:40.610> with<00:07:40.879> a<00:07:40.909> reasonable<00:07:41.089> timeout 00:07:41.589 --> 00:07:41.599 align:start position:0% arbitrator and with a reasonable timeout 00:07:41.599 --> 00:07:43.719 align:start position:0% arbitrator and with a reasonable timeout and<00:07:41.839> so<00:07:42.439> you<00:07:42.499> can<00:07:42.709> in<00:07:42.860> that<00:07:42.979> case<00:07:43.129> you<00:07:43.309> can<00:07:43.459> get 00:07:43.719 --> 00:07:43.729 align:start position:0% and so you can in that case you can get 00:07:43.729 --> 00:07:45.309 align:start position:0% and so you can in that case you can get the<00:07:43.789> final<00:07:43.999> answer<00:07:44.089> if<00:07:44.569> it<00:07:44.839> matches<00:07:45.050> these 00:07:45.309 --> 00:07:45.319 align:start position:0% the final answer if it matches these 00:07:45.319 --> 00:07:47.649 align:start position:0% the final answer if it matches these particular<00:07:45.589> criteria<00:07:46.249> so<00:07:46.939> your<00:07:47.149> user<00:07:47.389> can 00:07:47.649 --> 00:07:47.659 align:start position:0% particular criteria so your user can 00:07:47.659 --> 00:07:49.179 align:start position:0% particular criteria so your user can send<00:07:47.869> you<00:07:47.989> a<00:07:48.050> question<00:07:48.439> ID<00:07:48.589> and<00:07:48.919> then<00:07:49.069> you 00:07:49.179 --> 00:07:49.189 align:start position:0% send you a question ID and then you 00:07:49.189 --> 00:07:50.529 align:start position:0% send you a question ID and then you check<00:07:49.579> that<00:07:49.759> question<00:07:50.089> either<00:07:50.179> with<00:07:50.449> the 00:07:50.529 --> 00:07:50.539 align:start position:0% check that question either with the 00:07:50.539 --> 00:07:52.329 align:start position:0% check that question either with the contract<00:07:50.929> and<00:07:51.199> if<00:07:51.709> it's<00:07:51.860> right<00:07:52.039> you<00:07:52.189> go<00:07:52.309> ahead 00:07:52.329 --> 00:07:52.339 align:start position:0% contract and if it's right you go ahead 00:07:52.339 --> 00:07:57.069 align:start position:0% contract and if it's right you go ahead and<00:07:52.789> use<00:07:52.909> the<00:07:53.029> answer<00:07:55.449> so<00:07:56.449> you're<00:07:56.989> probably 00:07:57.069 --> 00:07:57.079 align:start position:0% and use the answer so you're probably 00:07:57.079 --> 00:08:01.089 align:start position:0% and use the answer so you're probably wondering<00:07:57.289> what<00:07:57.679> happens<00:07:58.129> if<00:07:58.369> somebody<00:08:00.099> keeps 00:08:01.089 --> 00:08:01.099 align:start position:0% wondering what happens if somebody keeps 00:08:01.099 --> 00:08:03.519 align:start position:0% wondering what happens if somebody keeps on<00:08:01.479> putting<00:08:02.479> money<00:08:02.659> on<00:08:02.959> something<00:08:03.379> that 00:08:03.519 --> 00:08:03.529 align:start position:0% on putting money on something that 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happens is the person who happens<00:08:12.079> it's<00:08:12.319> going<00:08:12.409> to<00:08:12.499> escalate<00:08:12.999> so<00:08:13.999> you 00:08:14.049 --> 00:08:14.059 align:start position:0% happens it's going to escalate so you 00:08:14.059 --> 00:08:16.299 align:start position:0% happens it's going to escalate so you end<00:08:14.299> up<00:08:14.419> with<00:08:14.599> quite<00:08:14.749> a<00:08:14.869> lot<00:08:15.139> of<00:08:15.169> money<00:08:15.469> in 00:08:16.299 --> 00:08:16.309 align:start position:0% end up with quite a lot of money in 00:08:16.309 --> 00:08:18.659 align:start position:0% end up with quite a lot of money in bonds<00:08:17.110> resting<00:08:18.110> on<00:08:18.229> this<00:08:18.379> particular 00:08:18.659 --> 00:08:18.669 align:start position:0% bonds resting on this particular 00:08:18.669 --> 00:08:23.919 align:start position:0% bonds resting on this particular question<00:08:19.669> and<00:08:20.679> then<00:08:22.089> once<00:08:23.089> that<00:08:23.209> happens<00:08:23.360> we 00:08:23.919 --> 00:08:23.929 align:start position:0% question and then once that happens we 00:08:23.929 --> 00:08:25.869 align:start position:0% question and then once that happens we get<00:08:24.079> a<00:08:24.139> serious<00:08:24.619> amount<00:08:25.429> of<00:08:25.549> money<00:08:25.729> in<00:08:25.849> the 00:08:25.869 --> 00:08:25.879 align:start position:0% get a serious amount of money in the 00:08:25.879 --> 00:08:28.419 align:start position:0% get a serious amount of money in the pool<00:08:26.119> and<00:08:26.329> somebody<00:08:26.659> is<00:08:26.809> gonna<00:08:27.019> want<00:08:27.589> to<00:08:27.799> use 00:08:28.419 --> 00:08:28.429 align:start position:0% pool and somebody is gonna want to use 00:08:28.429 --> 00:08:31.869 align:start position:0% pool and somebody is gonna want to use that<00:08:28.610> money<00:08:28.759> to<00:08:29.749> pay<00:08:29.959> our<00:08:30.349> arbitrator<00:08:31.189> now<00:08:31.819> the 00:08:31.869 --> 00:08:31.879 align:start position:0% that money to pay our arbitrator now the 00:08:31.879 --> 00:08:34.209 align:start position:0% that money to pay our arbitrator now the arbitrator<00:08:32.269> sounds<00:08:32.569> like<00:08:32.689> a<00:08:32.719> person<00:08:33.199> and<00:08:33.379> it 00:08:34.209 --> 00:08:34.219 align:start position:0% arbitrator sounds like a person and it 00:08:34.219 --> 00:08:37.209 align:start position:0% arbitrator sounds like a person and it can<00:08:34.250> be<00:08:34.550> a<00:08:34.579> person<00:08:35.169> but<00:08:36.169> it's<00:08:36.289> a<00:08:36.379> contract<00:08:36.800> so 00:08:37.209 --> 00:08:37.219 align:start position:0% can be a person but it's a contract so 00:08:37.219 --> 00:08:40.469 align:start position:0% can be a person but it's a contract so it<00:08:37.370> can<00:08:37.519> also<00:08:37.669> be<00:08:38.089> a<00:08:38.449> decision<00:08:39.349> making<00:08:39.649> process 00:08:40.469 --> 00:08:40.479 align:start position:0% it can also be a decision making process 00:08:40.479 --> 00:08:43.360 align:start position:0% it can also be a decision making process it<00:08:41.479> doesn't<00:08:41.719> have<00:08:41.930> to<00:08:41.990> be<00:08:42.079> cheap<00:08:42.319> it<00:08:43.129> doesn't 00:08:43.360 --> 00:08:43.370 align:start position:0% it doesn't have to be cheap it doesn't 00:08:43.370 --> 00:08:45.400 align:start position:0% it doesn't have to be cheap it doesn't have<00:08:43.459> to<00:08:43.579> be<00:08:43.669> fast<00:08:44.269> but<00:08:44.629> it<00:08:44.720> does<00:08:44.990> have<00:08:45.230> to<00:08:45.319> be 00:08:45.400 --> 00:08:45.410 align:start position:0% have to be fast but it does have to be 00:08:45.410 --> 00:08:47.319 align:start position:0% have to be fast but it does have to be able<00:08:45.500> to<00:08:45.620> get<00:08:45.709> us<00:08:45.829> our<00:08:45.949> answer<00:08:46.339> and<00:08:46.519> we<00:08:47.000> do<00:08:47.120> have 00:08:47.319 --> 00:08:47.329 align:start position:0% able to get us our answer and we do have 00:08:47.329 --> 00:08:49.360 align:start position:0% able to get us our answer and we do have to<00:08:47.420> trust<00:08:47.600> it<00:08:47.839> so<00:08:48.379> it's<00:08:48.680> kind<00:08:48.949> of<00:08:49.009> like<00:08:49.130> the<00:08:49.339> the 00:08:49.360 --> 00:08:49.370 align:start position:0% to trust it so it's kind of like the the 00:08:49.370 --> 00:08:51.639 align:start position:0% to trust it so it's kind of like the the Pope<00:08:49.790> in<00:08:50.029> the<00:08:50.120> medieval<00:08:50.420> um<00:08:50.779> metaphysics 00:08:51.639 --> 00:08:51.649 align:start position:0% Pope in the medieval um metaphysics 00:08:51.649 --> 00:08:54.519 align:start position:0% Pope in the medieval um metaphysics there<00:08:52.389> now<00:08:53.389> for<00:08:53.569> a<00:08:53.600> lot<00:08:53.720> of 00:08:54.519 --> 00:08:54.529 align:start position:0% there now for a lot of 00:08:54.529 --> 00:08:55.929 align:start position:0% there now for a lot of this<00:08:54.769> is<00:08:54.889> gonna<00:08:55.009> be<00:08:55.189> the<00:08:55.279> right<00:08:55.430> solution<00:08:55.850> and 00:08:55.929 --> 00:08:55.939 align:start position:0% this is gonna be the right solution and 00:08:55.939 --> 00:08:57.340 align:start position:0% this is gonna be the right solution and we're<00:08:56.120> going<00:08:56.240> to<00:08:56.300> be<00:08:56.360> able<00:08:56.480> to<00:08:56.600> construct<00:08:57.170> an 00:08:57.340 --> 00:08:57.350 align:start position:0% we're going to be able to construct an 00:08:57.350 --> 00:08:58.960 align:start position:0% we're going to be able to construct an arbitrator<00:08:57.829> that<00:08:58.040> suits<00:08:58.430> your<00:08:58.610> security 00:08:58.960 --> 00:08:58.970 align:start position:0% arbitrator that suits your security 00:08:58.970 --> 00:09:02.800 align:start position:0% arbitrator that suits your security needs<00:09:00.189> in<00:09:01.189> particular<00:09:01.610> it's<00:09:02.209> often<00:09:02.569> going<00:09:02.720> to 00:09:02.800 --> 00:09:02.810 align:start position:0% needs in particular it's often going to 00:09:02.810 --> 00:09:03.999 align:start position:0% needs in particular it's often going to be<00:09:02.899> better<00:09:03.139> than<00:09:03.319> what<00:09:03.470> people<00:09:03.800> have<00:09:03.889> been 00:09:03.999 --> 00:09:04.009 align:start position:0% be better than what people have been 00:09:04.009 --> 00:09:05.949 align:start position:0% be better than what people have been doing<00:09:04.249> at<00:09:04.339> the<00:09:04.399> moment<00:09:04.790> where<00:09:05.540> they're 00:09:05.949 --> 00:09:05.959 align:start position:0% doing at the moment where they're 00:09:05.959 --> 00:09:08.920 align:start position:0% doing at the moment where they're pulling<00:09:06.769> data<00:09:06.980> from<00:09:07.129> some<00:09:07.490> website<00:09:07.670> and<00:09:08.300> even 00:09:08.920 --> 00:09:08.930 align:start position:0% pulling data from some website and even 00:09:08.930 --> 00:09:10.329 align:start position:0% pulling data from some website and even if<00:09:09.050> the<00:09:09.199> middleware<00:09:09.589> that<00:09:09.769> gets<00:09:09.980> them<00:09:10.189> that 00:09:10.329 --> 00:09:10.339 align:start position:0% if the middleware that gets them that 00:09:10.339 --> 00:09:12.970 align:start position:0% if the middleware that gets them that data<00:09:10.550> is<00:09:10.790> correct<00:09:11.209> that<00:09:11.600> website<00:09:12.559> is<00:09:12.800> there 00:09:12.970 --> 00:09:12.980 align:start position:0% data is correct that website is there 00:09:12.980 --> 00:09:15.790 align:start position:0% data is correct that website is there Pope<00:09:13.449> and<00:09:14.449> often<00:09:14.720> the<00:09:14.809> website<00:09:15.170> or<00:09:15.649> the 00:09:15.790 --> 00:09:15.800 align:start position:0% Pope and often the website or the 00:09:15.800 --> 00:09:18.400 align:start position:0% Pope and often the website or the websites<00:09:16.249> that<00:09:16.399> you're<00:09:16.610> pulling<00:09:16.819> from<00:09:17.410> even 00:09:18.400 --> 00:09:18.410 align:start position:0% websites that you're pulling from even 00:09:18.410 --> 00:09:19.720 align:start position:0% websites that you're pulling from even if<00:09:18.529> they're<00:09:18.800> backed<00:09:19.069> by<00:09:19.279> some<00:09:19.490> fairly 00:09:19.720 --> 00:09:19.730 align:start position:0% if they're backed by some fairly 00:09:19.730 --> 00:09:21.819 align:start position:0% if they're backed by some fairly reliable<00:09:20.180> provider<00:09:20.470> aren't<00:09:21.470> actually 00:09:21.819 --> 00:09:21.829 align:start position:0% reliable provider aren't actually 00:09:21.829 --> 00:09:24.040 align:start position:0% reliable provider aren't actually secured<00:09:22.399> with<00:09:22.910> the<00:09:23.149> kind<00:09:23.389> of<00:09:23.540> assumptions 00:09:24.040 --> 00:09:24.050 align:start position:0% secured with the kind of assumptions 00:09:24.050 --> 00:09:25.569 align:start position:0% secured with the kind of assumptions that<00:09:24.139> we<00:09:24.350> make<00:09:24.529> when<00:09:24.800> we're<00:09:25.279> dealing<00:09:25.370> with 00:09:25.569 --> 00:09:25.579 align:start position:0% that we make when we're dealing with 00:09:25.579 --> 00:09:28.960 align:start position:0% that we make when we're dealing with magical<00:09:26.059> internet<00:09:26.360> money<00:09:26.709> so<00:09:27.850> we've<00:09:28.850> got 00:09:28.960 --> 00:09:28.970 align:start position:0% magical internet money so we've got 00:09:28.970 --> 00:09:30.489 align:start position:0% magical internet money so we've got ourselves<00:09:29.059> to<00:09:29.389> a<00:09:29.480> place<00:09:29.689> where<00:09:29.930> we<00:09:30.139> don't<00:09:30.379> have 00:09:30.489 --> 00:09:30.499 align:start position:0% ourselves to a place where we don't have 00:09:30.499 --> 00:09:32.079 align:start position:0% ourselves to a place where we don't have to<00:09:30.649> call<00:09:30.860> on<00:09:30.980> this<00:09:31.069> arbitrator<00:09:31.459> very<00:09:31.699> often 00:09:32.079 --> 00:09:32.089 align:start position:0% to call on this arbitrator very often 00:09:32.089 --> 00:09:34.840 align:start position:0% to call on this arbitrator very often and<00:09:32.499> we<00:09:33.499> can<00:09:33.620> use<00:09:33.769> an<00:09:33.860> expensive<00:09:34.249> process<00:09:34.430> so 00:09:34.840 --> 00:09:34.850 align:start position:0% and we can use an expensive process so 00:09:34.850 --> 00:09:36.519 align:start position:0% and we can use an expensive process so the<00:09:35.180> the<00:09:35.360> lip<00:09:35.509> the<00:09:36.019> arbitrator<00:09:36.379> could 00:09:36.519 --> 00:09:36.529 align:start position:0% the the lip the arbitrator could 00:09:36.529 --> 00:09:38.679 align:start position:0% the the lip the arbitrator could literally<00:09:36.800> hire<00:09:37.459> somebody<00:09:37.819> to<00:09:38.029> go<00:09:38.269> down<00:09:38.480> and 00:09:38.679 --> 00:09:38.689 align:start position:0% literally hire somebody to go down and 00:09:38.689 --> 00:09:40.119 align:start position:0% literally hire somebody to go down and look<00:09:38.779> at<00:09:38.870> my<00:09:39.019> office<00:09:39.139> and<00:09:39.470> see<00:09:39.649> if<00:09:39.769> it's<00:09:39.889> burnt 00:09:40.119 --> 00:09:40.129 align:start position:0% look at my office and see if it's burnt 00:09:40.129 --> 00:09:43.389 align:start position:0% look at my office and see if it's burnt down<00:09:41.019> out<00:09:42.019> of<00:09:42.230> the<00:09:42.350> gate<00:09:42.499> this<00:09:42.709> is<00:09:42.769> a<00:09:42.920> service 00:09:43.389 --> 00:09:43.399 align:start position:0% down out of the gate this is a service 00:09:43.399 --> 00:09:44.799 align:start position:0% down out of the gate this is a service that<00:09:43.430> we'll<00:09:43.639> be<00:09:43.759> offering<00:09:43.939> a<00:09:44.269> reality<00:09:44.629> keys 00:09:44.799 --> 00:09:44.809 align:start position:0% that we'll be offering a reality keys 00:09:44.809 --> 00:09:46.210 align:start position:0% that we'll be offering a reality keys but<00:09:45.050> we<00:09:45.170> also<00:09:45.319> think<00:09:45.529> it's<00:09:45.709> a<00:09:45.769> great<00:09:45.980> fit<00:09:46.189> for 00:09:46.210 --> 00:09:46.220 align:start position:0% but we also think it's a great fit for 00:09:46.220 --> 00:09:49.299 align:start position:0% but we also think it's a great fit for things<00:09:46.490> like<00:09:46.699> all<00:09:46.899> industry<00:09:47.899> consortiums<00:09:48.410> if 00:09:49.299 --> 00:09:49.309 align:start position:0% things like all industry consortiums if 00:09:49.309 --> 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stuff<00:09:55.699> and<00:09:55.910> then<00:09:55.999> they<00:09:56.089> come<00:09:56.209> and 00:09:56.319 --> 00:09:56.329 align:start position:0% blockchain stuff and then they come and 00:09:56.329 --> 00:09:57.460 align:start position:0% blockchain stuff and then they come and talk<00:09:56.420> to<00:09:56.509> guys<00:09:56.660> like<00:09:56.689> us<00:09:56.930> and<00:09:57.079> they<00:09:57.170> say<00:09:57.319> what 00:09:57.460 --> 00:09:57.470 align:start position:0% talk to guys like us and they say what 00:09:57.470 --> 00:09:59.740 align:start position:0% talk to guys like us and they say what should<00:09:57.649> I<00:09:57.709> do<00:09:57.769> with<00:09:57.920> my<00:09:57.980> consortium<00:09:58.600> this<00:09:59.600> is 00:09:59.740 --> 00:09:59.750 align:start position:0% should I do with my consortium this is 00:09:59.750 --> 00:10:01.990 align:start position:0% should I do with my consortium this is really<00:09:59.959> somewhere<00:10:00.259> where<00:10:00.649> these<00:10:01.459> existing 00:10:01.990 --> 00:10:02.000 align:start position:0% really somewhere where these existing 00:10:02.000 --> 00:10:03.569 align:start position:0% really somewhere where these existing industry<00:10:02.329> players<00:10:02.509> could<00:10:02.809> leverage<00:10:03.019> their 00:10:03.569 --> 00:10:03.579 align:start position:0% industry players could leverage their 00:10:03.579 --> 00:10:05.710 align:start position:0% industry players could leverage their their<00:10:04.579> existing<00:10:04.970> brands<00:10:05.209> and<00:10:05.420> their 00:10:05.710 --> 00:10:05.720 align:start position:0% their existing brands and their 00:10:05.720 --> 00:10:08.559 align:start position:0% their existing brands and their expertise<00:10:06.790> you<00:10:07.790> can<00:10:07.910> also<00:10:08.059> make<00:10:08.360> this<00:10:08.509> a 00:10:08.559 --> 00:10:08.569 align:start position:0% expertise you can also make this a 00:10:08.569 --> 00:10:10.780 align:start position:0% expertise you can also make this a socially<00:10:09.199> expensive<00:10:09.709> process<00:10:09.920> so<00:10:10.579> for 00:10:10.780 --> 00:10:10.790 align:start position:0% socially expensive process so for 00:10:10.790 --> 00:10:13.360 align:start position:0% socially expensive process so for example<00:10:11.240> if<00:10:11.509> you've<00:10:12.079> had<00:10:12.589> an<00:10:12.709> IC<00:10:12.980> o----<00:10:13.009> and 00:10:13.360 --> 00:10:13.370 align:start position:0% example if you've had an IC o---- and 00:10:13.370 --> 00:10:17.110 align:start position:0% example if you've had an IC o---- and you've<00:10:13.459> got<00:10:15.370> you've<00:10:16.370> got<00:10:16.399> some<00:10:16.819> people<00:10:16.970> who 00:10:17.110 --> 00:10:17.120 align:start position:0% you've got you've got some people who 00:10:17.120 --> 00:10:18.790 align:start position:0% you've got you've got some people who are<00:10:17.209> supposed<00:10:17.449> to<00:10:17.509> be<00:10:17.660> delivering<00:10:18.139> particular 00:10:18.790 --> 00:10:18.800 align:start position:0% are supposed to be delivering particular 00:10:18.800 --> 00:10:21.460 align:start position:0% are supposed to be delivering particular milestones<00:10:19.309> you<00:10:20.149> might<00:10:20.300> say<00:10:20.600> we<00:10:21.110> want<00:10:21.259> to<00:10:21.319> pay 00:10:21.460 --> 00:10:21.470 align:start position:0% milestones you might say we want to pay 00:10:21.470 --> 00:10:23.309 align:start position:0% milestones you might say we want to pay them<00:10:21.680> if<00:10:21.769> they<00:10:21.949> reach<00:10:22.100> these<00:10:22.279> milestones<00:10:22.339> and 00:10:23.309 --> 00:10:23.319 align:start position:0% them if they reach these milestones and 00:10:23.319 --> 00:10:25.480 align:start position:0% them if they reach these milestones and we're<00:10:24.319> gonna<00:10:24.439> check<00:10:24.709> that<00:10:24.860> with<00:10:25.009> reality 00:10:25.480 --> 00:10:25.490 align:start position:0% we're gonna check that with reality 00:10:25.490 --> 00:10:27.460 align:start position:0% we're gonna check that with reality check<00:10:25.730> but<00:10:26.089> the<00:10:26.360> arbitrator<00:10:26.870> is<00:10:27.139> going<00:10:27.319> to<00:10:27.379> be 00:10:27.460 --> 00:10:27.470 align:start position:0% check but the arbitrator is going to be 00:10:27.470 --> 00:10:29.619 align:start position:0% check but the arbitrator is going to be a<00:10:27.500> vote<00:10:27.709> of<00:10:27.889> the<00:10:27.949> token<00:10:28.220> holders<00:10:28.579> so<00:10:29.300> in<00:10:29.449> most 00:10:29.619 --> 00:10:29.629 align:start position:0% a vote of the token holders so in most 00:10:29.629 --> 00:10:31.059 align:start position:0% a vote of the token holders so in most cases<00:10:29.959> you're<00:10:30.259> not<00:10:30.290> gonna<00:10:30.470> have<00:10:30.649> to<00:10:30.740> call<00:10:30.920> on 00:10:31.059 --> 00:10:31.069 align:start position:0% cases you're not gonna have to call on 00:10:31.069 --> 00:10:33.309 align:start position:0% cases you're not gonna have to call on them<00:10:31.220> but<00:10:31.339> if<00:10:31.490> you<00:10:31.519> do<00:10:31.730> then<00:10:31.910> you<00:10:32.000> can<00:10:32.259> so<00:10:33.259> a 00:10:33.309 --> 00:10:33.319 align:start position:0% them but if you do then you can so a 00:10:33.319 --> 00:10:35.590 align:start position:0% them but if you do then you can so a reality<00:10:33.769> check<00:10:33.800> doesn't<00:10:34.250> care<00:10:34.459> it<00:10:35.120> just<00:10:35.420> lets 00:10:35.590 --> 00:10:35.600 align:start position:0% reality check doesn't care it just lets 00:10:35.600 --> 00:10:37.840 align:start position:0% reality check doesn't care it just lets you<00:10:35.779> supply<00:10:36.139> your<00:10:36.319> arbitrator<00:10:36.860> and<00:10:37.220> it<00:10:37.639> sets 00:10:37.840 --> 00:10:37.850 align:start position:0% you supply your arbitrator and it sets 00:10:37.850 --> 00:10:39.639 align:start position:0% you supply your arbitrator and it sets things<00:10:38.000> up<00:10:38.240> so<00:10:38.509> that<00:10:38.750> the<00:10:38.899> arbitrator<00:10:39.319> only 00:10:39.639 --> 00:10:39.649 align:start position:0% things up so that the arbitrator only 00:10:39.649 --> 00:10:42.999 align:start position:0% things up so that the arbitrator only has<00:10:39.769> to<00:10:39.889> get<00:10:40.009> called<00:10:40.250> on<00:10:41.439> if<00:10:42.439> very 00:10:42.999 --> 00:10:43.009 align:start position:0% has to get called on if very 00:10:43.009 --> 00:10:44.650 align:start position:0% has to get called on if very occasionally<00:10:43.550> and<00:10:43.730> that<00:10:43.939> when<00:10:44.089> they<00:10:44.179> do<00:10:44.240> get 00:10:44.650 --> 00:10:44.660 align:start position:0% occasionally and that when they do get 00:10:44.660 --> 00:10:46.360 align:start position:0% occasionally and that when they do get called<00:10:44.899> on<00:10:45.050> they<00:10:45.170> can<00:10:45.319> charge<00:10:45.529> very 00:10:46.360 --> 00:10:46.370 align:start position:0% called on they can charge very 00:10:46.370 --> 00:10:50.530 align:start position:0% called on they can charge very attractive<00:10:46.759> fees<00:10:48.189> so<00:10:49.189> this<00:10:49.879> is<00:10:50.059> our<00:10:50.240> attack 00:10:50.530 --> 00:10:50.540 align:start position:0% attractive fees so this is our attack 00:10:50.540 --> 00:10:53.230 align:start position:0% attractive fees so this is our attack our<00:10:51.079> application<00:10:52.009> deployed<00:10:52.429> on<00:10:52.639> on<00:10:53.059> the 00:10:53.230 --> 00:10:53.240 align:start position:0% our application deployed on on the 00:10:53.240 --> 00:10:55.809 align:start position:0% our application deployed on on the rinkeby<00:10:53.480> test<00:10:53.749> net<00:10:54.040> I've<00:10:55.040> also<00:10:55.220> posted<00:10:55.519> our 00:10:55.809 --> 00:10:55.819 align:start position:0% rinkeby test net I've also posted our 00:10:55.819 --> 00:10:57.910 align:start position:0% rinkeby test net I've also posted our Gator<00:10:56.029> channel<00:10:56.389> there<00:10:56.569> the<00:10:57.199> plan<00:10:57.470> is<00:10:57.649> that 00:10:57.910 --> 00:10:57.920 align:start position:0% Gator channel there the plan is that 00:10:57.920 --> 00:11:00.189 align:start position:0% Gator channel there the plan is that we're<00:10:58.069> gonna<00:10:58.329> take<00:10:59.329> feedback<00:10:59.600> for<00:10:59.929> a<00:10:59.959> couple 00:11:00.189 --> 00:11:00.199 align:start position:0% we're gonna take feedback for a couple 00:11:00.199 --> 00:11:01.869 align:start position:0% we're gonna take feedback for a couple of<00:11:00.290> weeks<00:11:00.410> on<00:11:00.649> the<00:11:00.800> details<00:11:01.220> of<00:11:01.309> the<00:11:01.399> API<00:11:01.670> and 00:11:01.869 --> 00:11:01.879 align:start position:0% of weeks on the details of the API and 00:11:01.879 --> 00:11:03.629 align:start position:0% of weeks on the details of the API and stuff<00:11:02.089> in<00:11:02.269> case<00:11:02.420> anyone<00:11:02.750> it<00:11:03.050> has<00:11:03.170> any<00:11:03.350> thoughts 00:11:03.629 --> 00:11:03.639 align:start position:0% stuff in case anyone it has any thoughts 00:11:03.639 --> 00:11:06.850 align:start position:0% stuff in case anyone it has any thoughts then<00:11:04.639> get<00:11:04.790> out<00:11:04.910> to<00:11:05.089> an<00:11:05.209> audit<00:11:05.509> and<00:11:05.860> hopefully 00:11:06.850 --> 00:11:06.860 align:start position:0% then get out to an audit and hopefully 00:11:06.860 --> 00:11:07.630 align:start position:0% then get out to an audit and hopefully have<00:11:07.040> it 00:11:07.630 --> 00:11:07.640 align:start position:0% have it 00:11:07.640 --> 00:11:10.590 align:start position:0% have it you<00:11:07.940> know<00:11:08.030> live<00:11:08.180> on<00:11:08.330> the<00:11:08.660> main<00:11:08.780> net<00:11:08.930> very<00:11:09.050> soon 00:11:10.590 --> 00:11:10.600 align:start position:0% you know live on the main net very soon 00:11:10.600 --> 00:11:13.570 align:start position:0% you know live on the main net very soon so<00:11:11.600> that's<00:11:12.200> the<00:11:12.440> efficiency<00:11:13.010> problem<00:11:13.400> but<00:11:13.550> I 00:11:13.570 --> 00:11:13.580 align:start position:0% so that's the efficiency problem but I 00:11:13.580 --> 00:11:14.860 align:start position:0% so that's the efficiency problem but I want<00:11:13.790> to<00:11:13.850> talk<00:11:13.970> about<00:11:14.150> another<00:11:14.330> problem<00:11:14.750> which 00:11:14.860 --> 00:11:14.870 align:start position:0% want to talk about another problem which 00:11:14.870 --> 00:11:17.980 align:start position:0% want to talk about another problem which is<00:11:14.900> perspective<00:11:15.640> so<00:11:16.640> for<00:11:17.270> years<00:11:17.510> we've<00:11:17.780> been 00:11:17.980 --> 00:11:17.990 align:start position:0% is perspective so for years we've been 00:11:17.990 --> 00:11:21.010 align:start position:0% is perspective so for years we've been serving<00:11:18.470> data<00:11:18.680> on<00:11:19.130> the<00:11:19.580> question<00:11:20.120> what<00:11:20.780> is<00:11:20.900> the 00:11:21.010 --> 00:11:21.020 align:start position:0% serving data on the question what is the 00:11:21.020 --> 00:11:24.400 align:start position:0% serving data on the question what is the price<00:11:21.230> of<00:11:21.410> Bitcoin<00:11:21.590> and<00:11:23.080> that's<00:11:24.080> been<00:11:24.380> a 00:11:24.400 --> 00:11:24.410 align:start position:0% price of Bitcoin and that's been a 00:11:24.410 --> 00:11:26.650 align:start position:0% price of Bitcoin and that's been a fairly<00:11:24.950> factual<00:11:25.640> question<00:11:26.060> for<00:11:26.210> most<00:11:26.360> of<00:11:26.540> that 00:11:26.650 --> 00:11:26.660 align:start position:0% fairly factual question for most of that 00:11:26.660 --> 00:11:28.930 align:start position:0% fairly factual question for most of that time<00:11:26.870> there<00:11:27.530> was<00:11:27.650> a<00:11:27.680> point<00:11:28.280> when<00:11:28.550> we<00:11:28.670> had<00:11:28.790> some 00:11:28.930 --> 00:11:28.940 align:start position:0% time there was a point when we had some 00:11:28.940 --> 00:11:31.120 align:start position:0% time there was a point when we had some funny<00:11:29.120> data<00:11:29.360> coming<00:11:29.570> from<00:11:29.630> Mount<00:11:29.900> GOx<00:11:30.140> which 00:11:31.120 --> 00:11:31.130 align:start position:0% funny data coming from Mount GOx which 00:11:31.130 --> 00:11:33.430 align:start position:0% funny data coming from Mount GOx which eventually<00:11:31.640> went<00:11:31.880> away<00:11:32.060> but<00:11:33.050> generally 00:11:33.430 --> 00:11:33.440 align:start position:0% eventually went away but generally 00:11:33.440 --> 00:11:35.380 align:start position:0% eventually went away but generally speaking<00:11:33.470> was<00:11:33.830> very<00:11:34.010> straight<00:11:34.220> forward<00:11:34.390> but 00:11:35.380 --> 00:11:35.390 align:start position:0% speaking was very straight forward but 00:11:35.390 --> 00:11:37.270 align:start position:0% speaking was very straight forward but then<00:11:35.540> next<00:11:36.110> month<00:11:36.380> when<00:11:36.590> the<00:11:36.680> fork<00:11:36.890> happens 00:11:37.270 --> 00:11:37.280 align:start position:0% then next month when the fork happens 00:11:37.280 --> 00:11:39.160 align:start position:0% then next month when the fork happens this<00:11:37.490> becomes<00:11:37.910> a<00:11:38.060> fairly<00:11:38.300> contentious 00:11:39.160 --> 00:11:39.170 align:start position:0% this becomes a fairly contentious 00:11:39.170 --> 00:11:41.950 align:start position:0% this becomes a fairly contentious question<00:11:40.000> and<00:11:41.000> it's<00:11:41.210> really<00:11:41.420> not<00:11:41.600> clear<00:11:41.660> at 00:11:41.950 --> 00:11:41.960 align:start position:0% question and it's really not clear at 00:11:41.960 --> 00:11:43.540 align:start position:0% question and it's really not clear at all<00:11:42.080> what<00:11:42.320> the<00:11:42.440> right<00:11:42.620> answer<00:11:43.070> is<00:11:43.100> going<00:11:43.370> to<00:11:43.460> be 00:11:43.540 --> 00:11:43.550 align:start position:0% all what the right answer is going to be 00:11:43.550 --> 00:11:45.430 align:start position:0% all what the right answer is going to be to<00:11:43.790> the<00:11:43.850> question<00:11:44.270> what's<00:11:45.020> the<00:11:45.110> price<00:11:45.320> of 00:11:45.430 --> 00:11:45.440 align:start position:0% to the question what's the price of 00:11:45.440 --> 00:11:47.260 align:start position:0% to the question what's the price of Bitcoin<00:11:45.560> you<00:11:45.950> know<00:11:46.070> there<00:11:46.400> are<00:11:46.490> gonna<00:11:47.060> be<00:11:47.210> at 00:11:47.260 --> 00:11:47.270 align:start position:0% Bitcoin you know there are gonna be at 00:11:47.270 --> 00:11:49.810 align:start position:0% Bitcoin you know there are gonna be at least<00:11:47.360> two<00:11:47.630> or<00:11:47.780> three<00:11:48.130> bitcoins<00:11:49.130> around<00:11:49.430> that 00:11:49.810 --> 00:11:49.820 align:start position:0% least two or three bitcoins around that 00:11:49.820 --> 00:11:50.980 align:start position:0% least two or three bitcoins around that you<00:11:49.940> could<00:11:50.060> possibly<00:11:50.210> take<00:11:50.540> the<00:11:50.660> price<00:11:50.840> off 00:11:50.980 --> 00:11:50.990 align:start position:0% you could possibly take the price off 00:11:50.990 --> 00:11:52.240 align:start position:0% you could possibly take the price off and<00:11:51.230> maybe<00:11:51.380> should<00:11:51.530> have<00:11:51.590> them<00:11:51.770> together<00:11:52.010> and 00:11:52.240 --> 00:11:52.250 align:start position:0% and maybe should have them together and 00:11:52.250 --> 00:11:54.190 align:start position:0% and maybe should have them together and you<00:11:52.310> know<00:11:52.430> who<00:11:52.520> knows<00:11:52.700> so<00:11:53.660> that's<00:11:54.020> a<00:11:54.080> question 00:11:54.190 --> 00:11:54.200 align:start position:0% you know who knows so that's a question 00:11:54.200 --> 00:11:55.630 align:start position:0% you know who knows so that's a question that<00:11:54.410> really<00:11:54.710> depends<00:11:55.070> on<00:11:55.160> your<00:11:55.280> point<00:11:55.460> of 00:11:55.630 --> 00:11:55.640 align:start position:0% that really depends on your point of 00:11:55.640 --> 00:11:59.680 align:start position:0% that really depends on your point of view<00:11:55.850> and<00:11:56.830> perspective<00:11:57.830> is<00:11:58.820> quite<00:11:59.180> a<00:11:59.210> tricky 00:11:59.680 --> 00:11:59.690 align:start position:0% view and perspective is quite a tricky 00:11:59.690 --> 00:12:03.370 align:start position:0% view and perspective is quite a tricky problem<00:11:59.930> for<00:12:00.560> consensus<00:12:01.310> systems<00:12:02.110> if<00:12:03.110> you 00:12:03.370 --> 00:12:03.380 align:start position:0% problem for consensus systems if you 00:12:03.380 --> 00:12:04.660 align:start position:0% problem for consensus systems if you look<00:12:03.650> at<00:12:03.770> the<00:12:03.860> original<00:12:04.070> problem<00:12:04.640> that 00:12:04.660 --> 00:12:04.670 align:start position:0% look at the original problem that 00:12:04.670 --> 00:12:07.930 align:start position:0% look at the original problem that Bitcoin<00:12:05.240> was<00:12:05.420> trying<00:12:05.630> to<00:12:05.750> solve<00:12:06.760> you've<00:12:07.760> got 00:12:07.930 --> 00:12:07.940 align:start position:0% Bitcoin was trying to solve you've got 00:12:07.940 --> 00:12:09.250 align:start position:0% Bitcoin was trying to solve you've got all<00:12:08.060> these<00:12:08.180> nodes<00:12:08.390> on<00:12:08.600> the<00:12:08.690> network<00:12:08.720> and<00:12:09.200> they 00:12:09.250 --> 00:12:09.260 align:start position:0% all these nodes on the network and they 00:12:09.260 --> 00:12:10.780 align:start position:0% all these nodes on the network and they all<00:12:09.380> have<00:12:09.620> a<00:12:09.650> different<00:12:09.740> perspective<00:12:10.310> on<00:12:10.670> the 00:12:10.780 --> 00:12:10.790 align:start position:0% all have a different perspective on the 00:12:10.790 --> 00:12:12.610 align:start position:0% all have a different perspective on the network<00:12:11.090> so<00:12:11.390> they<00:12:11.510> all<00:12:11.630> see<00:12:11.840> transactions<00:12:12.500> at 00:12:12.610 --> 00:12:12.620 align:start position:0% network so they all see transactions at 00:12:12.620 --> 00:12:14.800 align:start position:0% network so they all see transactions at different<00:12:12.890> times<00:12:13.100> and<00:12:13.430> what<00:12:14.420> you<00:12:14.540> want<00:12:14.690> to 00:12:14.800 --> 00:12:14.810 align:start position:0% different times and what you want to 00:12:14.810 --> 00:12:17.500 align:start position:0% different times and what you want to know<00:12:14.960> is<00:12:15.310> given<00:12:16.310> two<00:12:16.670> transactions<00:12:17.300> that<00:12:17.390> have 00:12:17.500 --> 00:12:17.510 align:start position:0% know is given two transactions that have 00:12:17.510 --> 00:12:20.140 align:start position:0% know is given two transactions that have been<00:12:17.630> sent<00:12:17.900> which<00:12:18.230> one<00:12:18.410> was<00:12:18.560> sent<00:12:18.680> earlier<00:12:19.150> and 00:12:20.140 --> 00:12:20.150 align:start position:0% been sent which one was sent earlier and 00:12:20.150 --> 00:12:21.580 align:start position:0% been sent which one was sent earlier and that's<00:12:20.300> something<00:12:20.510> that<00:12:20.630> about<00:12:20.990> which<00:12:21.200> every 00:12:21.580 --> 00:12:21.590 align:start position:0% that's something that about which every 00:12:21.590 --> 00:12:22.930 align:start position:0% that's something that about which every node<00:12:21.740> will<00:12:21.950> legitimately<00:12:22.430> have<00:12:22.580> a<00:12:22.610> different 00:12:22.930 --> 00:12:22.940 align:start position:0% node will legitimately have a different 00:12:22.940 --> 00:12:24.670 align:start position:0% node will legitimately have a different opinion<00:12:23.120> so<00:12:23.600> I<00:12:23.960> thought<00:12:24.080> she<00:12:24.230> just<00:12:24.260> kind<00:12:24.620> of 00:12:24.670 --> 00:12:24.680 align:start position:0% opinion so I thought she just kind of 00:12:24.680 --> 00:12:27.340 align:start position:0% opinion so I thought she just kind of punted<00:12:25.010> on<00:12:25.100> this<00:12:25.310> and<00:12:25.550> so<00:12:26.120> she's<00:12:26.810> genius<00:12:27.170> was 00:12:27.340 --> 00:12:27.350 align:start position:0% punted on this and so she's genius was 00:12:27.350 --> 00:12:28.690 align:start position:0% punted on this and so she's genius was to<00:12:27.470> realize<00:12:27.740> that<00:12:27.920> it<00:12:28.010> was<00:12:28.100> actually<00:12:28.220> okay<00:12:28.460> to 00:12:28.690 --> 00:12:28.700 align:start position:0% to realize that it was actually okay to 00:12:28.700 --> 00:12:31.840 align:start position:0% to realize that it was actually okay to punt<00:12:29.000> on<00:12:29.150> this<00:12:29.210> question<00:12:29.590> so<00:12:30.590> Bitcoin<00:12:31.130> or<00:12:31.340> a 00:12:31.840 --> 00:12:31.850 align:start position:0% punt on this question so Bitcoin or a 00:12:31.850 --> 00:12:33.370 align:start position:0% punt on this question so Bitcoin or a theory<00:12:32.240> and<00:12:32.390> we'll<00:12:32.480> just<00:12:32.690> really<00:12:32.960> just<00:12:33.200> pick 00:12:33.370 --> 00:12:33.380 align:start position:0% theory and we'll just really just pick 00:12:33.380 --> 00:12:37.870 align:start position:0% theory and we'll just really just pick one<00:12:33.790> and<00:12:35.560> it'll<00:12:36.560> you<00:12:36.830> know<00:12:36.950> and<00:12:37.400> and<00:12:37.640> what 00:12:37.870 --> 00:12:37.880 align:start position:0% one and it'll you know and and what 00:12:37.880 --> 00:12:39.520 align:start position:0% one and it'll you know and and what it'll<00:12:38.030> promise<00:12:38.330> you<00:12:38.450> is<00:12:38.600> that<00:12:38.720> if<00:12:38.840> you<00:12:38.990> give<00:12:39.140> if 00:12:39.520 --> 00:12:39.530 align:start position:0% it'll promise you is that if you give if 00:12:39.530 --> 00:12:42.340 align:start position:0% it'll promise you is that if you give if you<00:12:40.100> ask<00:12:40.280> it<00:12:40.460> again<00:12:40.730> then<00:12:41.570> with<00:12:41.900> an<00:12:41.990> increasing 00:12:42.340 --> 00:12:42.350 align:start position:0% you ask it again then with an increasing 00:12:42.350 --> 00:12:43.930 align:start position:0% you ask it again then with an increasing probability<00:12:42.610> it'll<00:12:43.610> give<00:12:43.730> you<00:12:43.820> the<00:12:43.880> same 00:12:43.930 --> 00:12:43.940 align:start position:0% probability it'll give you the same 00:12:43.940 --> 00:12:47.500 align:start position:0% probability it'll give you the same answer<00:12:44.150> again<00:12:45.130> so<00:12:46.130> if<00:12:46.460> we're<00:12:47.150> trying<00:12:47.270> to<00:12:47.420> get 00:12:47.500 --> 00:12:47.510 align:start position:0% answer again so if we're trying to get 00:12:47.510 --> 00:12:49.090 align:start position:0% answer again so if we're trying to get the<00:12:47.690> truth<00:12:47.990> of<00:12:48.170> a<00:12:48.230> proposition<00:12:48.260> it's<00:12:48.980> not 00:12:49.090 --> 00:12:49.100 align:start position:0% the truth of a proposition it's not 00:12:49.100 --> 00:12:50.320 align:start position:0% the truth of a proposition it's not really<00:12:49.280> clear<00:12:49.460> that<00:12:49.490> this<00:12:49.700> answer<00:12:50.000> will<00:12:50.090> do<00:12:50.210> it 00:12:50.320 --> 00:12:50.330 align:start position:0% really clear that this answer will do it 00:12:50.330 --> 00:12:53.740 align:start position:0% really clear that this answer will do it for<00:12:50.510> us<00:12:50.890> we<00:12:51.890> don't<00:12:52.760> really<00:12:52.940> just<00:12:53.150> want<00:12:53.330> punt<00:12:53.630> on 00:12:53.740 --> 00:12:53.750 align:start position:0% for us we don't really just want punt on 00:12:53.750 --> 00:12:55.690 align:start position:0% for us we don't really just want punt on anything<00:12:54.050> that<00:12:54.230> has<00:12:54.410> perspective<00:12:55.310> involved 00:12:55.690 --> 00:12:55.700 align:start position:0% anything that has perspective involved 00:12:55.700 --> 00:12:57.400 align:start position:0% anything that has perspective involved especially<00:12:55.910> because<00:12:56.270> things<00:12:56.570> like<00:12:56.660> the<00:12:57.230> price 00:12:57.400 --> 00:12:57.410 align:start position:0% especially because things like the price 00:12:57.410 --> 00:12:58.780 align:start position:0% especially because things like the price of<00:12:57.440> Bitcoin<00:12:57.650> a<00:12:57.890> lot<00:12:58.070> of<00:12:58.130> things<00:12:58.310> actually<00:12:58.610> turn 00:12:58.780 --> 00:12:58.790 align:start position:0% of Bitcoin a lot of things actually turn 00:12:58.790 --> 00:13:00.670 align:start position:0% of Bitcoin a lot of things actually turn out<00:12:58.970> to<00:12:59.030> have<00:12:59.150> perspective<00:12:59.810> when<00:13:00.440> it<00:13:00.530> maybe 00:13:00.670 --> 00:13:00.680 align:start position:0% out to have perspective when it maybe 00:13:00.680 --> 00:13:02.950 align:start position:0% out to have perspective when it maybe seemed<00:13:00.950> like<00:13:01.070> they<00:13:01.160> didn't<00:13:01.430> so<00:13:02.300> we<00:13:02.540> want<00:13:02.780> the 00:13:02.950 --> 00:13:02.960 align:start position:0% seemed like they didn't so we want the 00:13:02.960 --> 00:13:08.500 align:start position:0% seemed like they didn't so we want the answer<00:13:03.760> but<00:13:04.760> there<00:13:05.180> is<00:13:05.330> no<00:13:05.600> the<00:13:06.440> answer<00:13:07.510> now 00:13:08.500 --> 00:13:08.510 align:start position:0% answer but there is no the answer now 00:13:08.510 --> 00:13:10.120 align:start position:0% answer but there is no the answer now this<00:13:08.810> is<00:13:08.990> something<00:13:09.440> where<00:13:09.590> we've<00:13:09.740> managed<00:13:10.010> to 00:13:10.120 --> 00:13:10.130 align:start position:0% this is something where we've managed to 00:13:10.130 --> 00:13:12.490 align:start position:0% this is something where we've managed to handle<00:13:10.310> in<00:13:10.760> blockchain<00:13:11.240> systems<00:13:11.780> when<00:13:12.320> we're 00:13:12.490 --> 00:13:12.500 align:start position:0% handle in blockchain systems when we're 00:13:12.500 --> 00:13:15.670 align:start position:0% handle in blockchain systems when we're dealing<00:13:12.890> not<00:13:12.920> with<00:13:13.160> the<00:13:14.320> transactions<00:13:15.320> on<00:13:15.500> top 00:13:15.670 --> 00:13:15.680 align:start position:0% dealing not with the transactions on top 00:13:15.680 --> 00:13:18.580 align:start position:0% dealing not with the transactions on top of<00:13:15.830> the<00:13:15.920> blockchain<00:13:16.330> but<00:13:17.330> with<00:13:17.690> the<00:13:18.170> basic 00:13:18.580 --> 00:13:18.590 align:start position:0% of the blockchain but with the basic 00:13:18.590 --> 00:13:20.550 align:start position:0% of the blockchain but with the basic rules<00:13:18.890> of<00:13:19.100> governance<00:13:19.400> of<00:13:19.700> the<00:13:19.790> blockchain 00:13:20.550 --> 00:13:20.560 align:start position:0% rules of governance of the blockchain 00:13:20.560 --> 00:13:23.699 align:start position:0% rules of governance of the blockchain so<00:13:21.310> what<00:13:21.519> we<00:13:21.639> did<00:13:21.819> with<00:13:22.060> the<00:13:22.329> the<00:13:22.779> dow<00:13:22.959> hack<00:13:23.230> or 00:13:23.699 --> 00:13:23.709 align:start position:0% so what we did with the the dow hack or 00:13:23.709 --> 00:13:25.079 align:start position:0% so what we did with the the dow hack or what<00:13:24.069> we<00:13:24.160> did<00:13:24.310> with<00:13:24.430> Bitcoin<00:13:24.850> and<00:13:24.999> Bitcoin 00:13:25.079 --> 00:13:25.089 align:start position:0% what we did with Bitcoin and Bitcoin 00:13:25.089 --> 00:13:27.389 align:start position:0% what we did with Bitcoin and Bitcoin cash<00:13:25.569> was<00:13:25.870> when<00:13:26.680> there<00:13:26.860> was<00:13:26.949> a<00:13:26.980> serious 00:13:27.389 --> 00:13:27.399 align:start position:0% cash was when there was a serious 00:13:27.399 --> 00:13:29.460 align:start position:0% cash was when there was a serious dispute<00:13:27.790> over<00:13:28.060> governance<00:13:28.569> we<00:13:29.079> fought<00:13:29.319> the 00:13:29.460 --> 00:13:29.470 align:start position:0% dispute over governance we fought the 00:13:29.470 --> 00:13:32.550 align:start position:0% dispute over governance we fought the chain<00:13:29.819> so<00:13:30.819> if<00:13:31.060> you<00:13:31.180> have<00:13:31.360> a<00:13:31.389> Bitcoin<00:13:31.839> before 00:13:32.550 --> 00:13:32.560 align:start position:0% chain so if you have a Bitcoin before 00:13:32.560 --> 00:13:34.230 align:start position:0% chain so if you have a Bitcoin before that<00:13:32.709> fork<00:13:33.009> then<00:13:33.339> you<00:13:33.459> have<00:13:33.610> Bitcoin<00:13:34.089> and 00:13:34.230 --> 00:13:34.240 align:start position:0% that fork then you have Bitcoin and 00:13:34.240 --> 00:13:37.019 align:start position:0% that fork then you have Bitcoin and Bitcoin<00:13:34.329> cash<00:13:34.779> after<00:13:35.290> the<00:13:35.379> fork<00:13:35.819> and<00:13:36.819> if<00:13:36.910> you 00:13:37.019 --> 00:13:37.029 align:start position:0% Bitcoin cash after the fork and if you 00:13:37.029 --> 00:13:39.059 align:start position:0% Bitcoin cash after the fork and if you have<00:13:37.149> ether<00:13:37.569> before<00:13:37.749> the<00:13:38.110> fork<00:13:38.620> you<00:13:38.800> have<00:13:38.920> it 00:13:39.059 --> 00:13:39.069 align:start position:0% have ether before the fork you have it 00:13:39.069 --> 00:13:43.019 align:start position:0% have ether before the fork you have it ether<00:13:39.790> and<00:13:39.999> EDC<00:13:40.480> after<00:13:40.899> the<00:13:40.990> fork<00:13:41.199> and<00:13:42.029> this 00:13:43.019 --> 00:13:43.029 align:start position:0% ether and EDC after the fork and this 00:13:43.029 --> 00:13:46.189 align:start position:0% ether and EDC after the fork and this gives<00:13:43.269> you<00:13:43.509> kind<00:13:43.899> of<00:13:44.079> a<00:13:44.199> slightly<00:13:44.980> strange<00:13:45.339> but 00:13:46.189 --> 00:13:46.199 align:start position:0% gives you kind of a slightly strange but 00:13:46.199 --> 00:13:48.929 align:start position:0% gives you kind of a slightly strange but kind<00:13:47.199> of<00:13:47.290> remarkable<00:13:47.680> kind<00:13:47.980> of<00:13:48.100> security<00:13:48.430> in 00:13:48.929 --> 00:13:48.939 align:start position:0% kind of remarkable kind of security in 00:13:48.939 --> 00:13:51.269 align:start position:0% kind of remarkable kind of security in that<00:13:49.439> especially<00:13:50.439> from<00:13:50.769> the<00:13:50.860> point<00:13:51.040> of<00:13:51.129> view 00:13:51.269 --> 00:13:51.279 align:start position:0% that especially from the point of view 00:13:51.279 --> 00:13:53.939 align:start position:0% that especially from the point of view of<00:13:51.370> the<00:13:51.459> minority<00:13:52.029> if<00:13:53.019> you<00:13:53.319> lose<00:13:53.620> to<00:13:53.860> the 00:13:53.939 --> 00:13:53.949 align:start position:0% of the minority if you lose to the 00:13:53.949 --> 00:13:57.480 align:start position:0% of the minority if you lose to the minority<00:13:54.279> of<00:13:54.670> the<00:13:54.759> majority<00:13:55.680> if<00:13:56.680> the<00:13:57.100> decision 00:13:57.480 --> 00:13:57.490 align:start position:0% minority of the majority if the decision 00:13:57.490 --> 00:14:01.079 align:start position:0% minority of the majority if the decision making<00:13:57.970> process<00:13:58.569> in<00:13:59.009> force<00:14:00.009> goes<00:14:00.399> against<00:14:00.910> you 00:14:01.079 --> 00:14:01.089 align:start position:0% making process in force goes against you 00:14:01.089 --> 00:14:04.079 align:start position:0% making process in force goes against you you<00:14:01.809> still<00:14:02.110> have<00:14:02.379> the<00:14:02.529> ability<00:14:02.620> to<00:14:03.309> continue 00:14:04.079 --> 00:14:04.089 align:start position:0% you still have the ability to continue 00:14:04.089 --> 00:14:05.910 align:start position:0% you still have the ability to continue with<00:14:04.240> your<00:14:04.360> own<00:14:04.509> chain<00:14:04.779> you<00:14:05.379> still<00:14:05.589> have<00:14:05.800> the 00:14:05.910 --> 00:14:05.920 align:start position:0% with your own chain you still have the 00:14:05.920 --> 00:14:08.879 align:start position:0% with your own chain you still have the ability<00:14:06.279> to<00:14:06.309> follow<00:14:06.550> your<00:14:06.850> own<00:14:06.879> rules<00:14:07.439> and<00:14:08.439> it 00:14:08.879 --> 00:14:08.889 align:start position:0% ability to follow your own rules and it 00:14:08.889 --> 00:14:11.100 align:start position:0% ability to follow your own rules and it may<00:14:09.100> be<00:14:09.160> that<00:14:09.579> even<00:14:10.209> if<00:14:10.329> in<00:14:10.449> the<00:14:10.569> short<00:14:10.809> term 00:14:11.100 --> 00:14:11.110 align:start position:0% may be that even if in the short term 00:14:11.110 --> 00:14:13.170 align:start position:0% may be that even if in the short term the<00:14:11.379> market<00:14:11.680> goes<00:14:11.829> against<00:14:12.279> you<00:14:12.490> who<00:14:12.939> knows 00:14:13.170 --> 00:14:13.180 align:start position:0% the market goes against you who knows 00:14:13.180 --> 00:14:14.999 align:start position:0% the market goes against you who knows maybe<00:14:13.420> in<00:14:13.660> the<00:14:13.749> long<00:14:13.899> term 00:14:14.999 --> 00:14:15.009 align:start position:0% maybe in the long term 00:14:15.009 --> 00:14:16.920 align:start position:0% maybe in the long term you<00:14:15.339> will<00:14:15.490> also<00:14:15.610> find<00:14:15.910> that<00:14:16.029> your<00:14:16.240> token<00:14:16.749> is 00:14:16.920 --> 00:14:16.930 align:start position:0% you will also find that your token is 00:14:16.930 --> 00:14:18.689 align:start position:0% you will also find that your token is more<00:14:17.139> valuable<00:14:17.470> than<00:14:17.649> the<00:14:18.189> other<00:14:18.220> one<00:14:18.490> and 00:14:18.689 --> 00:14:18.699 align:start position:0% more valuable than the other one and 00:14:18.699 --> 00:14:20.220 align:start position:0% more valuable than the other one and even<00:14:19.029> if<00:14:19.209> it<00:14:19.300> doesn't<00:14:19.449> then<00:14:19.749> you<00:14:19.779> still<00:14:20.079> get<00:14:20.170> to 00:14:20.220 --> 00:14:20.230 align:start position:0% even if it doesn't then you still get to 00:14:20.230 --> 00:14:22.290 align:start position:0% even if it doesn't then you still get to do<00:14:20.379> what<00:14:20.470> you<00:14:20.529> want<00:14:20.649> to<00:14:20.680> do<00:14:20.939> so<00:14:21.939> this<00:14:22.120> is<00:14:22.269> a 00:14:22.290 --> 00:14:22.300 align:start position:0% do what you want to do so this is a 00:14:22.300 --> 00:14:24.449 align:start position:0% do what you want to do so this is a great<00:14:22.569> fit<00:14:22.899> for<00:14:22.930> handling<00:14:23.559> disagreements 00:14:24.449 --> 00:14:24.459 align:start position:0% great fit for handling disagreements 00:14:24.459 --> 00:14:27.509 align:start position:0% great fit for handling disagreements about<00:14:24.639> reality<00:14:25.600> what<00:14:26.529> we<00:14:26.620> can<00:14:26.769> do<00:14:26.889> is<00:14:27.069> embrace 00:14:27.509 --> 00:14:27.519 align:start position:0% about reality what we can do is embrace 00:14:27.519 --> 00:14:32.129 align:start position:0% about reality what we can do is embrace perspective<00:14:28.420> and<00:14:28.769> embrace<00:14:29.769> subjectivity<00:14:31.139> so 00:14:32.129 --> 00:14:32.139 align:start position:0% perspective and embrace subjectivity so 00:14:32.139 --> 00:14:36.150 align:start position:0% perspective and embrace subjectivity so what<00:14:32.319> we<00:14:32.410> need<00:14:32.559> is<00:14:32.589> opinionated<00:14:33.459> money<00:14:35.160> so 00:14:36.150 --> 00:14:36.160 align:start position:0% what we need is opinionated money so 00:14:36.160 --> 00:14:37.920 align:start position:0% what we need is opinionated money so we've<00:14:36.339> written<00:14:36.490> a<00:14:36.639> token<00:14:37.029> contract<00:14:37.509> it's 00:14:37.920 --> 00:14:37.930 align:start position:0% we've written a token contract it's 00:14:37.930 --> 00:14:41.509 align:start position:0% we've written a token contract it's about<00:14:38.430> 100<00:14:39.430> lines<00:14:39.579> of<00:14:39.759> solidity<00:14:40.089> and<00:14:40.470> it 00:14:41.509 --> 00:14:41.519 align:start position:0% about 100 lines of solidity and it 00:14:41.519 --> 00:14:45.900 align:start position:0% about 100 lines of solidity and it commits<00:14:42.519> every<00:14:43.120> day<00:14:43.300> to<00:14:44.370> any<00:14:45.370> number<00:14:45.610> of<00:14:45.730> new 00:14:45.900 --> 00:14:45.910 align:start position:0% commits every day to any number of new 00:14:45.910 --> 00:14:48.030 align:start position:0% commits every day to any number of new world<00:14:46.120> views<00:14:46.420> so<00:14:47.110> every<00:14:47.319> day<00:14:47.470> you<00:14:47.500> can<00:14:47.769> create 00:14:48.030 --> 00:14:48.040 align:start position:0% world views so every day you can create 00:14:48.040 --> 00:14:50.389 align:start position:0% world views so every day you can create new<00:14:48.129> branches<00:14:48.730> on<00:14:48.879> it<00:14:48.910> and<00:14:49.180> cause<00:14:49.329> it<00:14:49.509> to<00:14:49.540> fork 00:14:50.389 --> 00:14:50.399 align:start position:0% new branches on it and cause it to fork 00:14:50.399 --> 00:14:52.530 align:start position:0% new branches on it and cause it to fork and<00:14:51.399> each<00:14:51.610> of<00:14:51.759> those<00:14:51.910> branches<00:14:52.420> were 00:14:52.530 --> 00:14:52.540 align:start position:0% and each of those branches were 00:14:52.540 --> 00:14:55.949 align:start position:0% and each of those branches were represented<00:14:53.170> a<00:14:53.259> different<00:14:53.550> world<00:14:54.550> view<00:14:54.839> so<00:14:55.839> in 00:14:55.949 --> 00:14:55.959 align:start position:0% represented a different world view so in 00:14:55.959 --> 00:14:57.720 align:start position:0% represented a different world view so in each<00:14:56.079> of<00:14:56.290> those<00:14:56.410> branches<00:14:57.069> then<00:14:57.279> the<00:14:57.490> the 00:14:57.720 --> 00:14:57.730 align:start position:0% each of those branches then the the 00:14:57.730 --> 00:14:59.759 align:start position:0% each of those branches then the the contract<00:14:58.120> knows<00:14:58.300> how<00:14:58.990> much<00:14:59.170> money<00:14:59.379> you<00:14:59.589> should 00:14:59.759 --> 00:14:59.769 align:start position:0% contract knows how much money you should 00:14:59.769 --> 00:15:02.160 align:start position:0% contract knows how much money you should have<00:14:59.980> and<00:15:00.970> it'll<00:15:01.180> allow<00:15:01.300> you<00:15:01.449> to<00:15:01.750> spend<00:15:01.990> money 00:15:02.160 --> 00:15:02.170 align:start position:0% have and it'll allow you to spend money 00:15:02.170 --> 00:15:05.069 align:start position:0% have and it'll allow you to spend money that's<00:15:02.439> that's<00:15:02.829> on<00:15:02.980> the<00:15:03.329> some<00:15:04.329> parallel 00:15:05.069 --> 00:15:05.079 align:start position:0% that's that's on the some parallel 00:15:05.079 --> 00:15:07.350 align:start position:0% that's that's on the some parallel chains<00:15:05.350> twice<00:15:05.679> but<00:15:06.670> not<00:15:06.819> money<00:15:06.970> that's<00:15:07.209> on<00:15:07.269> the 00:15:07.350 --> 00:15:07.360 align:start position:0% chains twice but not money that's on the 00:15:07.360 --> 00:15:09.990 align:start position:0% chains twice but not money that's on the same<00:15:07.540> chain<00:15:08.040> so<00:15:09.040> it<00:15:09.399> looks<00:15:09.699> something<00:15:09.879> like 00:15:09.990 --> 00:15:10.000 align:start position:0% same chain so it looks something like 00:15:10.000 --> 00:15:11.249 align:start position:0% same chain so it looks something like this<00:15:10.240> so<00:15:10.480> if<00:15:10.540> you<00:15:10.629> wanted<00:15:10.779> to<00:15:10.870> know<00:15:10.990> did<00:15:11.110> my 00:15:11.249 --> 00:15:11.259 align:start position:0% this so if you wanted to know did my 00:15:11.259 --> 00:15:13.769 align:start position:0% this so if you wanted to know did my office<00:15:11.559> burn<00:15:12.009> down<00:15:12.250> one<00:15:13.059> person<00:15:13.420> might<00:15:13.540> say<00:15:13.689> it 00:15:13.769 --> 00:15:13.779 align:start position:0% office burn down one person might say it 00:15:13.779 --> 00:15:15.119 align:start position:0% office burn down one person might say it did<00:15:13.929> and<00:15:14.110> one<00:15:14.199> other<00:15:14.290> person<00:15:14.589> might<00:15:14.889> say<00:15:15.040> it 00:15:15.119 --> 00:15:15.129 align:start position:0% did and one other person might say it 00:15:15.129 --> 00:15:18.210 align:start position:0% did and one other person might say it didn't<00:15:15.399> so<00:15:15.790> we<00:15:15.910> have<00:15:16.029> two<00:15:16.179> forks<00:15:16.709> and<00:15:17.709> you<00:15:18.100> can 00:15:18.210 --> 00:15:18.220 align:start position:0% didn't so we have two forks and you can 00:15:18.220 --> 00:15:24.710 align:start position:0% didn't so we have two forks and you can keep<00:15:18.339> your<00:15:18.490> money<00:15:18.610> on<00:15:18.790> on<00:15:18.999> either<00:15:19.179> or<00:15:19.329> both<00:15:21.269> now 00:15:24.710 --> 00:15:24.720 align:start position:0% 00:15:24.720 --> 00:15:28.110 align:start position:0% once<00:15:25.720> we<00:15:25.899> can<00:15:26.079> do<00:15:26.230> this<00:15:26.439> your<00:15:27.249> smart<00:15:27.579> contract 00:15:28.110 --> 00:15:28.120 align:start position:0% once we can do this your smart contract 00:15:28.120 --> 00:15:30.509 align:start position:0% once we can do this your smart contract no<00:15:28.329> longer<00:15:28.689> needs<00:15:28.899> to<00:15:29.170> choose<00:15:29.439> between<00:15:30.069> these 00:15:30.509 --> 00:15:30.519 align:start position:0% no longer needs to choose between these 00:15:30.519 --> 00:15:33.570 align:start position:0% no longer needs to choose between these different<00:15:31.050> allegedly<00:15:32.050> objective<00:15:32.649> realities 00:15:33.570 --> 00:15:33.580 align:start position:0% different allegedly objective realities 00:15:33.580 --> 00:15:35.699 align:start position:0% different allegedly objective realities so<00:15:33.970> if<00:15:34.180> you've<00:15:34.330> got<00:15:34.480> a<00:15:34.540> bed<00:15:34.750> on<00:15:34.779> did<00:15:35.140> Trump<00:15:35.470> or 00:15:35.699 --> 00:15:35.709 align:start position:0% so if you've got a bed on did Trump or 00:15:35.709 --> 00:15:38.310 align:start position:0% so if you've got a bed on did Trump or Hillary<00:15:36.040> win<00:15:36.550> election<00:15:37.089> you<00:15:37.690> don't<00:15:37.720> need<00:15:38.170> the 00:15:38.310 --> 00:15:38.320 align:start position:0% Hillary win election you don't need the 00:15:38.320 --> 00:15:41.160 align:start position:0% Hillary win election you don't need the smart<00:15:38.560> contract<00:15:39.040> to<00:15:39.160> choose<00:15:39.540> which<00:15:40.540> one<00:15:40.839> which 00:15:41.160 --> 00:15:41.170 align:start position:0% smart contract to choose which one which 00:15:41.170 --> 00:15:43.199 align:start position:0% smart contract to choose which one which of<00:15:41.290> those<00:15:41.410> things<00:15:41.589> happened<00:15:42.010> you<00:15:42.250> don't<00:15:42.910> even 00:15:43.199 --> 00:15:43.209 align:start position:0% of those things happened you don't even 00:15:43.209 --> 00:15:45.480 align:start position:0% of those things happened you don't even need<00:15:43.420> that<00:15:43.660> to<00:15:43.810> be<00:15:44.050> an<00:15:44.410> objective<00:15:44.620> truth<00:15:45.130> about 00:15:45.480 --> 00:15:45.490 align:start position:0% need that to be an objective truth about 00:15:45.490 --> 00:15:48.360 align:start position:0% need that to be an objective truth about which<00:15:45.670> one<00:15:45.880> of<00:15:45.970> those<00:15:46.360> things<00:15:46.570> happened<00:15:47.370> your 00:15:48.360 --> 00:15:48.370 align:start position:0% which one of those things happened your 00:15:48.370 --> 00:15:50.280 align:start position:0% which one of those things happened your contract<00:15:48.850> just<00:15:49.029> pays<00:15:49.240> the<00:15:49.450> person<00:15:49.870> who<00:15:50.110> thinks 00:15:50.280 --> 00:15:50.290 align:start position:0% contract just pays the person who thinks 00:15:50.290 --> 00:15:53.519 align:start position:0% contract just pays the person who thinks that<00:15:50.470> Hillary<00:15:51.070> won<00:15:51.250> on<00:15:52.079> Hillary<00:15:53.079> won<00:15:53.290> on<00:15:53.440> the 00:15:53.519 --> 00:15:53.529 align:start position:0% that Hillary won on Hillary won on the 00:15:53.529 --> 00:15:55.949 align:start position:0% that Hillary won on Hillary won on the branch<00:15:53.769> that<00:15:53.860> says<00:15:54.160> Hillary<00:15:54.430> won<00:15:54.640> and<00:15:54.959> pays 00:15:55.949 --> 00:15:55.959 align:start position:0% branch that says Hillary won and pays 00:15:55.959 --> 00:15:57.930 align:start position:0% branch that says Hillary won and pays the<00:15:56.290> the<00:15:56.589> person<00:15:56.860> who<00:15:56.890> bet<00:15:57.130> the<00:15:57.250> Trump<00:15:57.490> won<00:15:57.700> on 00:15:57.930 --> 00:15:57.940 align:start position:0% the the person who bet the Trump won on 00:15:57.940 --> 00:16:01.380 align:start position:0% the the person who bet the Trump won on any<00:15:58.149> branch<00:15:58.420> that<00:15:58.630> says<00:15:58.810> Trump<00:15:59.050> won<00:15:59.880> so<00:16:00.880> we<00:16:01.240> can 00:16:01.380 --> 00:16:01.390 align:start position:0% any branch that says Trump won so we can 00:16:01.390 --> 00:16:03.540 align:start position:0% any branch that says Trump won so we can take<00:16:01.630> all<00:16:01.959> of<00:16:02.019> that<00:16:02.320> stuff<00:16:02.620> all<00:16:02.860> the<00:16:03.070> objective 00:16:03.540 --> 00:16:03.550 align:start position:0% take all of that stuff all the objective 00:16:03.550 --> 00:16:06.030 align:start position:0% take all of that stuff all the objective stuff<00:16:03.790> right<00:16:04.329> out<00:16:04.600> of<00:16:04.630> the<00:16:04.839> contract<00:16:05.230> and<00:16:05.649> put 00:16:06.030 --> 00:16:06.040 align:start position:0% stuff right out of the contract and put 00:16:06.040 --> 00:16:09.300 align:start position:0% stuff right out of the contract and put it<00:16:06.130> into<00:16:06.279> the<00:16:06.370> social<00:16:06.700> realm<00:16:08.100> now<00:16:09.100> at<00:16:09.220> this 00:16:09.300 --> 00:16:09.310 align:start position:0% it into the social realm now at this 00:16:09.310 --> 00:16:12.360 align:start position:0% it into the social realm now at this point<00:16:09.519> people<00:16:09.790> always<00:16:09.910> worry<00:16:10.089> that<00:16:10.709> if<00:16:11.709> we've 00:16:12.360 --> 00:16:12.370 align:start position:0% point people always worry that if we've 00:16:12.370 --> 00:16:14.340 align:start position:0% point people always worry that if we've got<00:16:12.610> these<00:16:12.820> hundreds<00:16:13.390> of<00:16:13.510> thousands<00:16:13.899> of<00:16:13.990> facts 00:16:14.340 --> 00:16:14.350 align:start position:0% got these hundreds of thousands of facts 00:16:14.350 --> 00:16:15.569 align:start position:0% got these hundreds of thousands of facts and<00:16:14.470> we're<00:16:14.589> branching<00:16:14.800> on<00:16:15.070> all<00:16:15.190> of<00:16:15.339> them<00:16:15.459> we're 00:16:15.569 --> 00:16:15.579 align:start position:0% and we're branching on all of them we're 00:16:15.579 --> 00:16:17.819 align:start position:0% and we're branching on all of them we're gonna<00:16:15.640> have<00:16:15.760> just<00:16:16.209> an<00:16:16.360> unfathomable<00:16:16.829> number 00:16:17.819 --> 00:16:17.829 align:start position:0% gonna have just an unfathomable number 00:16:17.829 --> 00:16:22.800 align:start position:0% gonna have just an unfathomable number of<00:16:18.600> of<00:16:19.600> branches<00:16:21.089> but<00:16:22.089> this<00:16:22.240> is<00:16:22.390> quite<00:16:22.600> a<00:16:22.630> nice 00:16:22.800 --> 00:16:22.810 align:start position:0% of of branches but this is quite a nice 00:16:22.810 --> 00:16:25.079 align:start position:0% of of branches but this is quite a nice fit<00:16:23.079> for<00:16:23.380> our<00:16:23.410> arbitration<00:16:24.279> contracts 00:16:25.079 --> 00:16:25.089 align:start position:0% fit for our arbitration contracts 00:16:25.089 --> 00:16:26.970 align:start position:0% fit for our arbitration contracts because<00:16:25.420> our<00:16:25.720> arbitration<00:16:26.320> contracts<00:16:26.860> in 00:16:26.970 --> 00:16:26.980 align:start position:0% because our arbitration contracts in 00:16:26.980 --> 00:16:32.990 align:start position:0% because our arbitration contracts in reality<00:16:27.399> check<00:16:27.839> represents<00:16:28.839> a<00:16:28.930> process<00:16:29.440> for 00:16:32.990 --> 00:16:33.000 align:start position:0% 00:16:33.000 --> 00:16:35.819 align:start position:0% forgetting<00:16:34.110> resolving<00:16:35.110> a<00:16:35.200> bunch<00:16:35.380> of<00:16:35.470> facts 00:16:35.819 --> 00:16:35.829 align:start position:0% forgetting resolving a bunch of facts 00:16:35.829 --> 00:16:38.130 align:start position:0% forgetting resolving a bunch of facts and<00:16:36.040> so<00:16:36.640> you<00:16:36.700> have<00:16:36.880> a<00:16:36.910> large<00:16:37.360> number<00:16:37.450> of<00:16:37.750> facts 00:16:38.130 --> 00:16:38.140 align:start position:0% and so you have a large number of facts 00:16:38.140 --> 00:16:39.360 align:start position:0% and so you have a large number of facts that<00:16:38.170> are<00:16:38.709> all<00:16:38.800> hid<00:16:39.010> around 00:16:39.360 --> 00:16:39.370 align:start position:0% that are all hid around 00:16:39.370 --> 00:16:43.380 align:start position:0% that are all hid around hid<00:16:40.149> behind<00:16:40.380> that<00:16:41.380> contract<00:16:41.940> so<00:16:42.940> what<00:16:43.149> we<00:16:43.240> can 00:16:43.380 --> 00:16:43.390 align:start position:0% hid behind that contract so what we can 00:16:43.390 --> 00:16:46.530 align:start position:0% hid behind that contract so what we can do<00:16:43.510> here<00:16:43.750> is<00:16:43.959> you<00:16:44.829> commit<00:16:45.160> to<00:16:45.399> a<00:16:45.730> whitelist<00:16:46.360> of 00:16:46.530 --> 00:16:46.540 align:start position:0% do here is you commit to a whitelist of 00:16:46.540 --> 00:16:49.079 align:start position:0% do here is you commit to a whitelist of arbitrators<00:16:47.370> once<00:16:48.370> you<00:16:48.670> think<00:16:48.880> that<00:16:49.000> an 00:16:49.079 --> 00:16:49.089 align:start position:0% arbitrators once you think that an 00:16:49.089 --> 00:16:51.180 align:start position:0% arbitrators once you think that an arbitrator<00:16:49.450> is<00:16:49.660> bad<00:16:49.870> you<00:16:50.500> can<00:16:50.680> just<00:16:50.920> remove 00:16:51.180 --> 00:16:51.190 align:start position:0% arbitrator is bad you can just remove 00:16:51.190 --> 00:16:53.699 align:start position:0% arbitrator is bad you can just remove that<00:16:51.250> arbitrator<00:16:51.910> from<00:16:52.600> the<00:16:52.779> whitelist<00:16:53.079> and 00:16:53.699 --> 00:16:53.709 align:start position:0% that arbitrator from the whitelist and 00:16:53.709 --> 00:16:55.170 align:start position:0% that arbitrator from the whitelist and what<00:16:53.950> anyone<00:16:54.310> can<00:16:54.490> just<00:16:54.610> publish<00:16:54.760> a<00:16:54.910> branch 00:16:55.170 --> 00:16:55.180 align:start position:0% what anyone can just publish a branch 00:16:55.180 --> 00:16:57.930 align:start position:0% what anyone can just publish a branch that<00:16:55.450> removes<00:16:55.779> that<00:16:56.370> that<00:16:57.370> arbitrator<00:16:57.790> from 00:16:57.930 --> 00:16:57.940 align:start position:0% that removes that that arbitrator from 00:16:57.940 --> 00:16:59.880 align:start position:0% that removes that that arbitrator from from<00:16:58.240> the<00:16:58.300> whitelist<00:16:58.600> and<00:16:59.290> this<00:16:59.589> means<00:16:59.800> that 00:16:59.880 --> 00:16:59.890 align:start position:0% from the whitelist and this means that 00:16:59.890 --> 00:17:01.170 align:start position:0% from the whitelist and this means that we<00:17:00.100> no<00:17:00.250> longer<00:17:00.279> have<00:17:00.579> to<00:17:00.790> trust<00:17:01.000> our 00:17:01.170 --> 00:17:01.180 align:start position:0% we no longer have to trust our 00:17:01.180 --> 00:17:03.180 align:start position:0% we no longer have to trust our arbitrators<00:17:01.750> arbitrators<00:17:02.350> because<00:17:02.920> if<00:17:03.040> the 00:17:03.180 --> 00:17:03.190 align:start position:0% arbitrators arbitrators because if the 00:17:03.190 --> 00:17:05.189 align:start position:0% arbitrators arbitrators because if the arbitrator<00:17:03.610> is<00:17:03.790> bad<00:17:04.000> the<00:17:04.480> economy<00:17:04.900> can<00:17:05.020> just 00:17:05.189 --> 00:17:05.199 align:start position:0% arbitrator is bad the economy can just 00:17:05.199 --> 00:17:07.230 align:start position:0% arbitrator is bad the economy can just route<00:17:05.350> around<00:17:05.620> them<00:17:05.829> so<00:17:06.760> we<00:17:06.880> can<00:17:07.000> do<00:17:07.120> this 00:17:07.230 --> 00:17:07.240 align:start position:0% route around them so we can do this 00:17:07.240 --> 00:17:08.790 align:start position:0% route around them so we can do this whole<00:17:07.449> thing<00:17:07.660> without<00:17:07.929> needing<00:17:08.290> needing<00:17:08.589> that 00:17:08.790 --> 00:17:08.800 align:start position:0% whole thing without needing needing that 00:17:08.800 --> 00:17:11.790 align:start position:0% whole thing without needing needing that the<00:17:09.040> trust<00:17:09.809> so<00:17:10.809> very<00:17:11.110> quickly<00:17:11.350> I<00:17:11.500> just<00:17:11.530> want<00:17:11.740> to 00:17:11.790 --> 00:17:11.800 align:start position:0% the trust so very quickly I just want to 00:17:11.800 --> 00:17:13.439 align:start position:0% the trust so very quickly I just want to compare<00:17:11.980> a<00:17:12.040> couple<00:17:12.130> of<00:17:12.370> code<00:17:12.520> examples<00:17:13.270> so 00:17:13.439 --> 00:17:13.449 align:start position:0% compare a couple of code examples so 00:17:13.449 --> 00:17:16.290 align:start position:0% compare a couple of code examples so this<00:17:13.630> is<00:17:13.809> the<00:17:13.990> claim<00:17:14.350> function<00:17:15.010> with<00:17:15.970> a<00:17:16.000> pope 00:17:16.290 --> 00:17:16.300 align:start position:0% this is the claim function with a pope 00:17:16.300 --> 00:17:18.090 align:start position:0% this is the claim function with a pope right<00:17:16.780> this<00:17:16.929> is<00:17:17.050> the<00:17:17.140> claim<00:17:17.350> function<00:17:17.829> with<00:17:17.980> an 00:17:18.090 --> 00:17:18.100 align:start position:0% right this is the claim function with an 00:17:18.100 --> 00:17:20.280 align:start position:0% right this is the claim function with an arbitrator<00:17:18.630> who<00:17:19.630> the<00:17:19.780> contract<00:17:20.140> already 00:17:20.280 --> 00:17:20.290 align:start position:0% arbitrator who the contract already 00:17:20.290 --> 00:17:22.829 align:start position:0% arbitrator who the contract already thinks<00:17:20.740> it's<00:17:20.860> going<00:17:20.980> to<00:17:21.040> trust<00:17:21.510> so<00:17:22.510> what<00:17:22.689> we're 00:17:22.829 --> 00:17:22.839 align:start position:0% thinks it's going to trust so what we're 00:17:22.839 --> 00:17:26.640 align:start position:0% thinks it's going to trust so what we're doing<00:17:23.050> there<00:17:23.230> is<00:17:24.300> we're<00:17:25.500> checking<00:17:26.500> the 00:17:26.640 --> 00:17:26.650 align:start position:0% doing there is we're checking the 00:17:26.650 --> 00:17:28.860 align:start position:0% doing there is we're checking the question<00:17:27.010> that<00:17:27.640> somebody<00:17:27.880> feet<00:17:28.150> somebody 00:17:28.860 --> 00:17:28.870 align:start position:0% question that somebody feet somebody 00:17:28.870 --> 00:17:30.210 align:start position:0% question that somebody feet somebody feeds<00:17:29.020> us<00:17:29.110> to<00:17:29.200> question<00:17:29.320> ID<00:17:29.620> and<00:17:29.830> when<00:17:29.919> we 00:17:30.210 --> 00:17:30.220 align:start position:0% feeds us to question ID and when we 00:17:30.220 --> 00:17:32.430 align:start position:0% feeds us to question ID and when we check<00:17:30.400> the<00:17:30.490> question<00:17:30.880> and<00:17:31.840> then<00:17:31.960> we<00:17:32.080> send<00:17:32.320> them 00:17:32.430 --> 00:17:32.440 align:start position:0% check the question and then we send them 00:17:32.440 --> 00:17:33.750 align:start position:0% check the question and then we send them so<00:17:32.710> in<00:17:32.919> this<00:17:33.040> case<00:17:33.220> the<00:17:33.370> balance<00:17:33.610> of<00:17:33.669> all 00:17:33.750 --> 00:17:33.760 align:start position:0% so in this case the balance of all 00:17:33.760 --> 00:17:35.580 align:start position:0% so in this case the balance of all tokens<00:17:34.210> held<00:17:34.390> by<00:17:34.480> the<00:17:34.540> contract<00:17:34.960> to<00:17:35.559> that 00:17:35.580 --> 00:17:35.590 align:start position:0% tokens held by the contract to that 00:17:35.590 --> 00:17:39.090 align:start position:0% tokens held by the contract to that person<00:17:36.720> this<00:17:37.720> is<00:17:37.929> the<00:17:38.080> same<00:17:38.320> contract<00:17:38.740> on 00:17:39.090 --> 00:17:39.100 align:start position:0% person this is the same contract on 00:17:39.100 --> 00:17:42.570 align:start position:0% person this is the same contract on subject<00:17:39.610> democracy<00:17:40.090> so<00:17:40.929> the<00:17:41.740> claim<00:17:42.070> function 00:17:42.570 --> 00:17:42.580 align:start position:0% subject democracy so the claim function 00:17:42.580 --> 00:17:44.299 align:start position:0% subject democracy so the claim function is<00:17:42.700> a<00:17:42.730> little<00:17:42.970> bit<00:17:43.090> different<00:17:43.480> we've<00:17:43.809> got<00:17:44.020> a 00:17:44.299 --> 00:17:44.309 align:start position:0% is a little bit different we've got a 00:17:44.309 --> 00:17:46.530 align:start position:0% is a little bit different we've got a branch<00:17:45.309> parameter<00:17:46.030> and 00:17:46.530 --> 00:17:46.540 align:start position:0% branch parameter and 00:17:46.540 --> 00:17:48.810 align:start position:0% branch parameter and arbitrated<00:17:46.960> parameter<00:17:47.380> and<00:17:47.620> the<00:17:48.370> first<00:17:48.580> thing 00:17:48.810 --> 00:17:48.820 align:start position:0% arbitrated parameter and the first thing 00:17:48.820 --> 00:17:51.060 align:start position:0% arbitrated parameter and the first thing we<00:17:48.910> do<00:17:49.060> is<00:17:49.240> we<00:17:49.450> go<00:17:49.570> to<00:17:49.600> the<00:17:49.840> token<00:17:50.230> contract<00:17:50.680> and 00:17:51.060 --> 00:17:51.070 align:start position:0% we do is we go to the token contract and 00:17:51.070 --> 00:17:54.630 align:start position:0% we do is we go to the token contract and we<00:17:51.610> ask<00:17:51.850> it<00:17:52.270> on<00:17:52.630> this<00:17:53.170> branch<00:17:53.530> is<00:17:53.950> this<00:17:54.340> Alice 00:17:54.630 --> 00:17:54.640 align:start position:0% we ask it on this branch is this Alice 00:17:54.640 --> 00:17:57.030 align:start position:0% we ask it on this branch is this Alice is<00:17:54.880> this<00:17:55.030> arbitrator<00:17:55.420> legit<00:17:55.810> and<00:17:56.800> if<00:17:56.920> the 00:17:57.030 --> 00:17:57.040 align:start position:0% is this arbitrator legit and if the 00:17:57.040 --> 00:17:58.860 align:start position:0% is this arbitrator legit and if the arbitrator<00:17:57.490> is<00:17:57.670> legit<00:17:57.970> then<00:17:58.150> we<00:17:58.240> go<00:17:58.330> ahead<00:17:58.450> and 00:17:58.860 --> 00:17:58.870 align:start position:0% arbitrator is legit then we go ahead and 00:17:58.870 --> 00:18:00.990 align:start position:0% arbitrator is legit then we go ahead and all<00:17:59.140> the<00:17:59.260> rest<00:17:59.410> is<00:17:59.530> just<00:17:59.770> the<00:17:59.860> same<00:18:00.070> except<00:18:00.970> for 00:18:00.990 --> 00:18:01.000 align:start position:0% all the rest is just the same except for 00:18:01.000 --> 00:18:02.790 align:start position:0% all the rest is just the same except for the<00:18:01.150> very<00:18:01.300> last<00:18:01.450> line<00:18:01.780> where<00:18:02.110> that<00:18:02.140> token 00:18:02.790 --> 00:18:02.800 align:start position:0% the very last line where that token 00:18:02.800 --> 00:18:09.510 align:start position:0% the very last line where that token payment<00:18:03.220> also<00:18:03.970> specifies<00:18:04.450> a<00:18:04.480> branch<00:18:07.740> so<00:18:08.740> once 00:18:09.510 --> 00:18:09.520 align:start position:0% payment also specifies a branch so once 00:18:09.520 --> 00:18:11.580 align:start position:0% payment also specifies a branch so once we<00:18:09.790> have<00:18:10.030> opinionated<00:18:10.930> money<00:18:11.110> like<00:18:11.320> this 00:18:11.580 --> 00:18:11.590 align:start position:0% we have opinionated money like this 00:18:11.590 --> 00:18:13.800 align:start position:0% we have opinionated money like this people<00:18:12.520> are<00:18:12.580> welcome<00:18:13.000> to<00:18:13.210> play<00:18:13.330> their<00:18:13.660> own 00:18:13.800 --> 00:18:13.810 align:start position:0% people are welcome to play their own 00:18:13.810 --> 00:18:16.380 align:start position:0% people are welcome to play their own language<00:18:14.350> games<00:18:14.650> and<00:18:15.130> embrace<00:18:15.970> their<00:18:16.240> own 00:18:16.380 --> 00:18:16.390 align:start position:0% language games and embrace their own 00:18:16.390 --> 00:18:20.580 align:start position:0% language games and embrace their own worldviews<00:18:17.050> so<00:18:18.030> you're<00:18:19.200> entitled<00:18:20.200> to<00:18:20.500> your 00:18:20.580 --> 00:18:20.590 align:start position:0% worldviews so you're entitled to your 00:18:20.590 --> 00:18:23.820 align:start position:0% worldviews so you're entitled to your own<00:18:20.740> opinion<00:18:21.600> hell<00:18:22.600> you're<00:18:22.960> also<00:18:23.080> entitled<00:18:23.560> to 00:18:23.820 --> 00:18:23.830 align:start position:0% own opinion hell you're also entitled to 00:18:23.830 --> 00:18:24.600 align:start position:0% own opinion hell you're also entitled to your<00:18:23.980> own<00:18:24.070> facts 00:18:24.600 --> 00:18:24.610 align:start position:0% your own facts 00:18:24.610 --> 00:18:26.370 align:start position:0% your own facts this<00:18:24.760> is<00:18:24.940> aetherium<00:18:25.600> it's<00:18:25.750> it's 00:18:26.370 --> 00:18:26.380 align:start position:0% this is aetherium it's it's 00:18:26.380 --> 00:18:27.870 align:start position:0% this is aetherium it's it's permissionless<00:18:26.860> it's<00:18:27.220> free<00:18:27.400> you<00:18:27.430> can<00:18:27.640> do<00:18:27.730> what 00:18:27.870 --> 00:18:27.880 align:start position:0% permissionless it's free you can do what 00:18:27.880 --> 00:18:32.130 align:start position:0% permissionless it's free you can do what you<00:18:27.940> like<00:18:28.530> but<00:18:30.420> if<00:18:31.420> you<00:18:31.780> won't<00:18:31.930> play<00:18:32.050> a 00:18:32.130 --> 00:18:32.140 align:start position:0% you like but if you won't play a 00:18:32.140 --> 00:18:33.660 align:start position:0% you like but if you won't play a language<00:18:32.470> game<00:18:32.740> with<00:18:32.860> somebody<00:18:33.160> else<00:18:33.340> you're 00:18:33.660 --> 00:18:33.670 align:start position:0% language game with somebody else you're 00:18:33.670 --> 00:18:34.800 align:start position:0% language game with somebody else you're gonna<00:18:33.790> have<00:18:33.970> to<00:18:34.090> persuade<00:18:34.420> those<00:18:34.600> other 00:18:34.800 --> 00:18:34.810 align:start position:0% gonna have to persuade those other 00:18:34.810 --> 00:18:37.440 align:start position:0% gonna have to persuade those other people<00:18:35.170> the<00:18:35.920> world<00:18:36.850> that<00:18:37.060> you're<00:18:37.180> trying<00:18:37.420> to 00:18:37.440 --> 00:18:37.450 align:start position:0% people the world that you're trying to 00:18:37.450 --> 00:18:41.340 align:start position:0% people the world that you're trying to inhabit<00:18:37.780> is<00:18:37.960> interesting<00:18:39.000> so<00:18:40.000> we'll<00:18:40.780> see<00:18:41.050> what 00:18:41.340 --> 00:18:41.350 align:start position:0% inhabit is interesting so we'll see what 00:18:41.350 --> 00:18:43.920 align:start position:0% inhabit is interesting so we'll see what kind<00:18:42.040> of<00:18:42.220> values<00:18:42.700> the<00:18:43.060> markets<00:18:43.390> actually<00:18:43.510> want 00:18:43.920 --> 00:18:43.930 align:start position:0% kind of values the markets actually want 00:18:43.930 --> 00:18:46.530 align:start position:0% kind of values the markets actually want to<00:18:44.170> assign<00:18:44.950> to<00:18:45.190> those<00:18:45.430> different<00:18:45.880> branches 00:18:46.530 --> 00:18:46.540 align:start position:0% to assign to those different branches 00:18:46.540 --> 00:18:50.160 align:start position:0% to assign to those different branches and<00:18:47.500> we'll<00:18:48.070> also<00:18:48.220> see<00:18:48.810> what<00:18:49.810> people<00:18:50.080> actually 00:18:50.160 --> 00:18:50.170 align:start position:0% and we'll also see what people actually 00:18:50.170 --> 00:18:52.530 align:start position:0% and we'll also see what people actually want<00:18:50.380> to<00:18:50.620> use<00:18:50.860> so<00:18:51.250> Kellyanne<00:18:52.090> Kong<00:18:52.330> where's 00:18:52.530 --> 00:18:52.540 align:start position:0% want to use so Kellyanne Kong where's 00:18:52.540 --> 00:18:54.780 align:start position:0% want to use so Kellyanne Kong where's welcome<00:18:52.990> to<00:18:53.110> her<00:18:53.260> alternative<00:18:54.220> facts<00:18:54.550> if<00:18:54.670> he 00:18:54.780 --> 00:18:54.790 align:start position:0% welcome to her alternative facts if he 00:18:54.790 --> 00:18:57.180 align:start position:0% welcome to her alternative facts if he wants<00:18:55.030> them<00:18:55.240> that's<00:18:55.420> absolutely<00:18:55.930> fine<00:18:56.190> but 00:18:57.180 --> 00:18:57.190 align:start position:0% wants them that's absolutely fine but 00:18:57.190 --> 00:18:59.460 align:start position:0% wants them that's absolutely fine but we'll<00:18:57.340> see<00:18:57.580> what<00:18:57.790> universe<00:18:58.690> what<00:18:58.960> worldview 00:18:59.460 --> 00:18:59.470 align:start position:0% we'll see what universe what worldview 00:18:59.470 --> 00:19:02.250 align:start position:0% we'll see what universe what worldview what<00:19:00.100> set<00:19:00.340> of<00:19:00.460> facts<00:19:00.760> uses<00:19:01.300> if<00:19:01.600> she<00:19:01.930> wants<00:19:02.170> to 00:19:02.250 --> 00:19:02.260 align:start position:0% what set of facts uses if she wants to 00:19:02.260 --> 00:19:04.350 align:start position:0% what set of facts uses if she wants to say<00:19:02.440> ensure<00:19:02.860> her<00:19:03.070> house<00:19:03.280> and<00:19:03.610> get<00:19:04.060> reliable 00:19:04.350 --> 00:19:04.360 align:start position:0% say ensure her house and get reliable 00:19:04.360 --> 00:19:07.770 align:start position:0% say ensure her house and get reliable data<00:19:04.690> when<00:19:04.900> it<00:19:04.990> burns<00:19:05.140> down<00:19:05.850> so<00:19:06.850> if<00:19:07.240> like<00:19:07.630> me 00:19:07.770 --> 00:19:07.780 align:start position:0% data when it burns down so if like me 00:19:07.780 --> 00:19:09.630 align:start position:0% data when it burns down so if like me you're<00:19:07.900> excited<00:19:08.350> about<00:19:08.500> this<00:19:08.710> then<00:19:09.070> please 00:19:09.630 --> 00:19:09.640 align:start position:0% you're excited about this then please 00:19:09.640 --> 00:19:11.510 align:start position:0% you're excited about this then please come<00:19:09.880> and<00:19:09.970> talk<00:19:10.090> to<00:19:10.150> us<00:19:10.360> on<00:19:10.720> our<00:19:10.810> Geeta<00:19:11.050> Channel 00:19:11.510 --> 00:19:11.520 align:start position:0% come and talk to us on our Geeta Channel 00:19:11.520 --> 00:19:16.170 align:start position:0% come and talk to us on our Geeta Channel I've<00:19:12.520> also<00:19:13.050> put<00:19:14.340> all<00:19:15.340> the<00:19:15.460> things<00:19:15.490> this<00:19:15.910> was<00:19:16.090> a 00:19:16.170 --> 00:19:16.180 align:start position:0% I've also put all the things this was a 00:19:16.180 --> 00:19:18.510 align:start position:0% I've also put all the things this was a piece<00:19:16.390> I<00:19:16.540> wrote<00:19:16.660> last<00:19:16.840> year<00:19:17.110> about<00:19:17.200> this<00:19:17.520> also 00:19:18.510 --> 00:19:18.520 align:start position:0% piece I wrote last year about this also 00:19:18.520 --> 00:19:22.200 align:start position:0% piece I wrote last year about this also links<00:19:19.360> to<00:19:19.390> Vita<00:19:20.110> leaks<00:19:20.700> writing<00:19:21.700> on<00:19:21.850> subject 00:19:22.200 --> 00:19:22.210 align:start position:0% links to Vita leaks writing on subject 00:19:22.210 --> 00:19:25.410 align:start position:0% links to Vita leaks writing on subject democracy<00:19:22.630> where<00:19:23.410> he<00:19:23.530> did<00:19:23.800> a<00:19:23.830> lot<00:19:24.160> of<00:19:24.220> legwork 00:19:25.410 --> 00:19:25.420 align:start position:0% democracy where he did a lot of legwork 00:19:25.420 --> 00:19:27.960 align:start position:0% democracy where he did a lot of legwork so<00:19:26.080> please<00:19:26.680> please<00:19:26.950> do<00:19:27.040> come<00:19:27.490> and<00:19:27.640> talk<00:19:27.760> to<00:19:27.790> us 00:19:27.960 --> 00:19:27.970 align:start position:0% so please please do come and talk to us 00:19:27.970 --> 00:19:30.420 align:start position:0% so please please do come and talk to us the<00:19:28.600> reality<00:19:28.840> token<00:19:29.410> thing<00:19:29.620> is<00:19:30.190> nearly<00:19:30.370> ready 00:19:30.420 --> 00:19:30.430 align:start position:0% the reality token thing is nearly ready 00:19:30.430 --> 00:19:32.070 align:start position:0% the reality token thing is nearly ready to<00:19:30.610> go<00:19:30.760> but<00:19:30.970> this<00:19:31.060> thing<00:19:31.300> we're<00:19:31.600> still<00:19:31.780> kind<00:19:31.990> of 00:19:32.070 --> 00:19:32.080 align:start position:0% to go but this thing we're still kind of 00:19:32.080 --> 00:19:34.050 align:start position:0% to go but this thing we're still kind of batting<00:19:32.560> around<00:19:32.650> different<00:19:32.860> models<00:19:33.250> and<00:19:33.460> so 00:19:34.050 --> 00:19:34.060 align:start position:0% batting around different models and so 00:19:34.060 --> 00:19:42.550 align:start position:0% batting around different models and so we'd<00:19:34.180> love<00:19:34.300> to<00:19:34.330> hear<00:19:34.480> what<00:19:34.600> you<00:19:34.660> think<00:19:34.750> okay 00:19:42.550 --> 00:19:42.560 align:start position:0% 00:19:42.560 --> 00:19:50.140 align:start position:0% [Music]