WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:10.770 align:start position:0% [Applause] 00:00:10.770 --> 00:00:10.780 align:start position:0% 00:00:10.780 --> 00:00:18.130 align:start position:0% all<00:00:11.780> right<00:00:11.900> everybody<00:00:14.980> time<00:00:15.980> us<00:00:16.690> I<00:00:17.690> have<00:00:18.110> a 00:00:18.130 --> 00:00:18.140 align:start position:0% all right everybody time us I have a 00:00:18.140 --> 00:00:20.170 align:start position:0% all right everybody time us I have a very<00:00:18.439> loud<00:00:18.680> voice<00:00:18.710> that<00:00:19.250> this<00:00:19.369> room<00:00:19.580> is<00:00:19.700> not<00:00:19.880> so 00:00:20.170 --> 00:00:20.180 align:start position:0% very loud voice that this room is not so 00:00:20.180 --> 00:00:22.120 align:start position:0% very loud voice that this room is not so large<00:00:20.390> so<00:00:20.720> I'm<00:00:20.840> not<00:00:21.230> familiar<00:00:21.410> the<00:00:21.680> microphone 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session 00:00:33.350 --> 00:00:35.410 align:start position:0% joining our governance breakout session thank<00:00:33.920> you<00:00:34.040> also<00:00:34.220> to<00:00:34.400> all<00:00:35.150> the<00:00:35.180> other 00:00:35.410 --> 00:00:35.420 align:start position:0% thank you also to all the other 00:00:35.420 --> 00:00:36.759 align:start position:0% thank you also to all the other presenters<00:00:35.570> we<00:00:36.050> actually<00:00:36.320> have<00:00:36.440> a<00:00:36.470> really 00:00:36.759 --> 00:00:36.769 align:start position:0% presenters we actually have a really 00:00:36.769 --> 00:00:39.220 align:start position:0% presenters we actually have a really exciting<00:00:37.640> lineup<00:00:38.000> today<00:00:38.780> you're<00:00:39.080> going<00:00:39.170> to 00:00:39.220 --> 00:00:39.230 align:start position:0% exciting lineup today you're going to 00:00:39.230 --> 00:00:42.750 align:start position:0% exciting lineup today you're going to hear<00:00:39.410> from<00:00:39.650> a<00:00:39.769> number<00:00:40.160> of<00:00:40.340> people<00:00:41.019> very<00:00:42.019> very 00:00:42.750 --> 00:00:42.760 align:start position:0% hear from a number of people very very 00:00:42.760 --> 00:00:45.280 align:start position:0% hear from a number of people very very hardworking<00:00:43.760> very<00:00:43.970> intelligent<00:00:44.900> people<00:00:45.019> who 00:00:45.280 --> 00:00:45.290 align:start position:0% hardworking very intelligent people who 00:00:45.290 --> 00:00:46.570 align:start position:0% hardworking very intelligent people who have<00:00:45.409> fought<00:00:45.680> a<00:00:45.920> great<00:00:46.159> deal<00:00:46.400> about 00:00:46.570 --> 00:00:46.580 align:start position:0% have fought a great deal about 00:00:46.580 --> 00:00:49.090 align:start position:0% have fought a great deal about governance<00:00:47.120> from<00:00:47.629> a<00:00:48.019> huge<00:00:48.620> variety<00:00:48.860> of 00:00:49.090 --> 00:00:49.100 align:start position:0% governance from a huge variety of 00:00:49.100 --> 00:00:50.500 align:start position:0% governance from a huge variety of projects<00:00:49.610> I<00:00:49.729> think<00:00:49.760> we<00:00:49.940> had<00:00:50.059> about<00:00:50.239> ten 00:00:50.500 --> 00:00:50.510 align:start position:0% projects I think we had about ten 00:00:50.510 --> 00:00:52.119 align:start position:0% projects I think we had about ten projects<00:00:50.960> representatives<00:00:51.589> that's<00:00:51.830> that's 00:00:52.119 --> 00:00:52.129 align:start position:0% projects representatives that's that's 00:00:52.129 --> 00:00:55.060 align:start position:0% projects representatives that's that's quite<00:00:52.339> exciting<00:00:53.199> before<00:00:54.199> we<00:00:54.320> kick<00:00:54.530> off<00:00:54.680> before 00:00:55.060 --> 00:00:55.070 align:start position:0% quite exciting before we kick off before 00:00:55.070 --> 00:00:58.329 align:start position:0% quite exciting before we kick off before we<00:00:55.159> dive<00:00:55.400> into<00:00:56.320> governance<00:00:57.320> I<00:00:57.710> thought<00:00:58.250> it 00:00:58.329 --> 00:00:58.339 align:start position:0% we dive into governance I thought it 00:00:58.339 --> 00:01:00.219 align:start position:0% we dive into governance I thought it would<00:00:58.430> be<00:00:58.519> very<00:00:58.670> helpful<00:00:59.030> if<00:00:59.239> we<00:00:59.360> start<00:00:59.750> with 00:01:00.219 --> 00:01:00.229 align:start position:0% would be very helpful if we start with 00:01:00.229 --> 00:01:03.070 align:start position:0% would be very helpful if we start with some<00:01:00.440> basic<00:01:01.100> introductory<00:01:01.729> material<00:01:02.299> and<00:01:02.930> so 00:01:03.070 --> 00:01:03.080 align:start position:0% some basic introductory material and so 00:01:03.080 --> 00:01:04.329 align:start position:0% some basic introductory material and so I'll<00:01:03.199> just<00:01:03.229> take<00:01:03.470> a<00:01:03.530> couple<00:01:03.710> of<00:01:03.890> minutes<00:01:04.010> now 00:01:04.329 --> 00:01:04.339 align:start position:0% I'll just take a couple of minutes now 00:01:04.339 --> 00:01:07.780 align:start position:0% I'll just take a couple of minutes now to<00:01:04.850> introduce<00:01:05.780> this<00:01:06.200> concept<00:01:07.100> of<00:01:07.400> governance 00:01:07.780 --> 00:01:07.790 align:start position:0% to introduce this concept of governance 00:01:07.790 --> 00:01:11.890 align:start position:0% to introduce this concept of governance share<00:01:08.720> some<00:01:08.869> basic<00:01:08.990> terminology<00:01:10.600> do<00:01:11.600> we<00:01:11.720> have 00:01:11.890 --> 00:01:11.900 align:start position:0% share some basic terminology do we have 00:01:11.900 --> 00:01:16.240 align:start position:0% share some basic terminology do we have is<00:01:12.200> it<00:01:12.939> talks<00:01:13.939> up<00:01:14.149> are<00:01:14.990> you<00:01:15.200> checking<00:01:15.799> the<00:01:16.009> time 00:01:16.240 --> 00:01:16.250 align:start position:0% is it talks up are you checking the time 00:01:16.250 --> 00:01:19.779 align:start position:0% is it talks up are you checking the time of<00:01:16.670> the<00:01:16.789> timer<00:01:17.030> or<00:01:17.420> yeah<00:01:18.399> okay<00:01:19.399> and<00:01:19.579> you'll 00:01:19.779 --> 00:01:19.789 align:start position:0% of the timer or yeah okay and you'll 00:01:19.789 --> 00:01:25.330 align:start position:0% of the timer or yeah okay and you'll give<00:01:19.969> me<00:01:20.119> here<00:01:20.750> your<00:01:21.079> huh<00:01:21.670> 19<00:01:22.670> minutes 00:01:25.330 --> 00:01:25.340 align:start position:0% 00:01:25.340 --> 00:01:31.880 align:start position:0% [Music] 00:01:31.880 --> 00:01:31.890 align:start position:0% 00:01:31.890 --> 00:01:41.840 align:start position:0% sorry<00:01:33.480> yeah<00:01:36.600> thanks<00:01:37.630> okay<00:01:38.470> this<00:01:39.340> is<00:01:39.460> 46<00:01:40.060> month 00:01:41.840 --> 00:01:41.850 align:start position:0% sorry yeah thanks okay this is 46 month 00:01:41.850 --> 00:01:43.350 align:start position:0% sorry yeah thanks okay this is 46 month hello 00:01:43.350 --> 00:01:43.360 align:start position:0% hello 00:01:43.360 --> 00:01:47.490 align:start position:0% hello okay<00:01:43.980> cold<00:01:45.100> alright<00:01:45.400> let's<00:01:45.640> time<00:01:45.790> it<00:01:46.500> very 00:01:47.490 --> 00:01:47.500 align:start position:0% okay cold alright let's time it very 00:01:47.500 --> 00:01:49.410 align:start position:0% okay cold alright let's time it very briefly<00:01:47.770> but<00:01:48.100> with<00:01:48.280> background<00:01:48.790> my<00:01:49.090> name<00:01:49.270> is 00:01:49.410 --> 00:01:49.420 align:start position:0% briefly but with background my name is 00:01:49.420 --> 00:01:52.800 align:start position:0% briefly but with background my name is Lane<00:01:49.600> ready<00:01:49.870> I<00:01:50.820> first<00:01:51.820> and<00:01:52.000> foremost<00:01:52.360> am<00:01:52.600> a 00:01:52.800 --> 00:01:52.810 align:start position:0% Lane ready I first and foremost am a 00:01:52.810 --> 00:01:54.720 align:start position:0% Lane ready I first and foremost am a blockchain<00:01:53.110> core<00:01:53.650> developer<00:01:54.100> I've<00:01:54.490> been 00:01:54.720 --> 00:01:54.730 align:start position:0% blockchain core developer I've been 00:01:54.730 --> 00:01:56.580 align:start position:0% blockchain core developer I've been writing<00:01:54.970> software<00:01:55.360> my<00:01:55.750> whole<00:01:55.930> life<00:01:56.110> and<00:01:56.440> so 00:01:56.580 --> 00:01:56.590 align:start position:0% writing software my whole life and so 00:01:56.590 --> 00:01:58.800 align:start position:0% writing software my whole life and so kind<00:01:56.770> of<00:01:56.860> the<00:01:57.070> way<00:01:57.970> I<00:01:58.000> got<00:01:58.360> into<00:01:58.600> the 00:01:58.800 --> 00:01:58.810 align:start position:0% kind of the way I got into the 00:01:58.810 --> 00:02:00.870 align:start position:0% kind of the way I got into the blockchain<00:01:59.050> space<00:01:59.620> was<00:02:00.130> through<00:02:00.460> the 00:02:00.870 --> 00:02:00.880 align:start position:0% blockchain space was through the 00:02:00.880 --> 00:02:02.970 align:start position:0% blockchain space was through the technology<00:02:01.390> and<00:02:01.540> the<00:02:01.600> code<00:02:01.810> is<00:02:02.170> still<00:02:02.710> the 00:02:02.970 --> 00:02:02.980 align:start position:0% technology and the code is still the 00:02:02.980 --> 00:02:04.770 align:start position:0% technology and the code is still the main<00:02:03.190> lens<00:02:03.490> I<00:02:03.730> use<00:02:03.940> when<00:02:04.150> I<00:02:04.180> think<00:02:04.450> about<00:02:04.510> the 00:02:04.770 --> 00:02:04.780 align:start position:0% main lens I use when I think about the 00:02:04.780 --> 00:02:08.580 align:start position:0% main lens I use when I think about the blockchain<00:02:05.670> however<00:02:06.720> so<00:02:07.720> I<00:02:07.750> mean<00:02:08.110> I<00:02:08.230> sort<00:02:08.530> of 00:02:08.580 --> 00:02:08.590 align:start position:0% blockchain however so I mean I sort of 00:02:08.590 --> 00:02:10.740 align:start position:0% blockchain however so I mean I sort of have<00:02:08.770> had<00:02:08.920> this<00:02:09.119> crazy<00:02:10.119> journey<00:02:10.360> over<00:02:10.630> the 00:02:10.740 --> 00:02:10.750 align:start position:0% have had this crazy journey over the 00:02:10.750 --> 00:02:12.540 align:start position:0% have had this crazy journey over the past<00:02:10.810> two<00:02:11.170> years<00:02:11.200> I<00:02:11.590> worked<00:02:11.920> as<00:02:12.070> an<00:02:12.160> ethereal 00:02:12.540 --> 00:02:12.550 align:start position:0% past two years I worked as an ethereal 00:02:12.550 --> 00:02:14.730 align:start position:0% past two years I worked as an ethereal core<00:02:12.730> developer<00:02:13.150> for<00:02:13.420> about<00:02:13.750> eighteen<00:02:14.470> months 00:02:14.730 --> 00:02:14.740 align:start position:0% core developer for about eighteen months 00:02:14.740 --> 00:02:16.290 align:start position:0% core developer for about eighteen months to<00:02:14.770> two<00:02:14.890> years<00:02:14.980> and<00:02:15.490> more<00:02:15.610> recently<00:02:15.970> I've<00:02:16.120> been 00:02:16.290 --> 00:02:16.300 align:start position:0% to two years and more recently I've been 00:02:16.300 --> 00:02:22.220 align:start position:0% to two years and more recently I've been working<00:02:16.780> on<00:02:16.840> another<00:02:17.020> project 00:02:22.220 --> 00:02:22.230 align:start position:0% 00:02:22.230 --> 00:02:27.900 align:start position:0% it's<00:02:23.230> Hurley<00:02:23.590> I<00:02:23.800> bought<00:02:24.040> my<00:02:24.190> first<00:02:24.220> copy<00:02:26.910> but 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align:start position:0% is that you know technology is not a 00:02:35.860 --> 00:02:38.760 align:start position:0% is that you know technology is not a solution<00:02:36.400> by<00:02:37.300> itself<00:02:37.630> to<00:02:37.900> anything<00:02:38.290> okay 00:02:38.760 --> 00:02:38.770 align:start position:0% solution by itself to anything okay 00:02:38.770 --> 00:02:41.729 align:start position:0% solution by itself to anything okay technology<00:02:39.400> is<00:02:39.700> a<00:02:39.730> tool<00:02:40.060> that<00:02:40.480> we<00:02:40.989> can<00:02:41.020> use<00:02:41.350> to 00:02:41.729 --> 00:02:41.739 align:start position:0% technology is a tool that we can use to 00:02:41.739 --> 00:02:44.670 align:start position:0% technology is a tool that we can use to solve<00:02:42.459> problems<00:02:42.880> but<00:02:43.530> fundamentally<00:02:44.530> those 00:02:44.670 --> 00:02:44.680 align:start position:0% solve problems but fundamentally those 00:02:44.680 --> 00:02:46.770 align:start position:0% solve problems but fundamentally those problems<00:02:45.070> are<00:02:45.220> social<00:02:45.550> problems<00:02:45.940> and<00:02:46.209> I<00:02:46.510> think 00:02:46.770 --> 00:02:46.780 align:start position:0% problems are social problems and I think 00:02:46.780 --> 00:02:48.150 align:start position:0% problems are social problems and I think it's<00:02:46.900> very<00:02:47.080> critical<00:02:47.320> that<00:02:47.530> we<00:02:47.680> attack<00:02:47.950> the 00:02:48.150 --> 00:02:48.160 align:start position:0% it's very critical that we attack the 00:02:48.160 --> 00:02:49.949 align:start position:0% it's very critical that we attack the social<00:02:48.670> aspect<00:02:49.120> of<00:02:49.180> those<00:02:49.300> problems<00:02:49.690> first 00:02:49.949 --> 00:02:49.959 align:start position:0% social aspect of those problems first 00:02:49.959 --> 00:02:52.620 align:start position:0% social aspect of those problems first one<00:02:50.739> of<00:02:50.830> the<00:02:50.950> problems<00:02:51.340> that<00:02:51.459> I<00:02:51.940> think<00:02:52.030> is<00:02:52.450> sort 00:02:52.620 --> 00:02:52.630 align:start position:0% one of the problems that I think is sort 00:02:52.630 --> 00:02:54.990 align:start position:0% one of the problems that I think is sort of<00:02:52.720> unsolved<00:02:53.110> today<00:02:53.530> in<00:02:54.519> watching<00:02:54.940> this 00:02:54.990 --> 00:02:55.000 align:start position:0% of unsolved today in watching this 00:02:55.000 --> 00:02:56.220 align:start position:0% of unsolved today in watching this governance<00:02:55.390> and<00:02:55.570> that's<00:02:55.690> why<00:02:55.810> I<00:02:55.840> care<00:02:56.080> a<00:02:56.110> lot 00:02:56.220 --> 00:02:56.230 align:start position:0% governance and that's why I care a lot 00:02:56.230 --> 00:02:57.449 align:start position:0% governance and that's why I care a lot about<00:02:56.290> governance<00:02:56.830> and<00:02:56.950> I've<00:02:57.100> done<00:02:57.250> a<00:02:57.280> lot<00:02:57.340> of 00:02:57.449 --> 00:02:57.459 align:start position:0% about governance and I've done a lot of 00:02:57.459 --> 00:02:58.740 align:start position:0% about governance and I've done a lot of thinking<00:02:57.850> and<00:02:57.940> reading<00:02:58.150> and<00:02:58.420> writing<00:02:58.510> and 00:02:58.740 --> 00:02:58.750 align:start position:0% thinking and reading and writing and 00:02:58.750 --> 00:03:03.449 align:start position:0% thinking and reading and writing and speaking<00:02:58.959> about<00:02:59.260> it<00:03:01.110> so<00:03:02.110> this<00:03:03.010> is<00:03:03.190> what<00:03:03.370> we'll 00:03:03.449 --> 00:03:03.459 align:start position:0% speaking about it so this is what we'll 00:03:03.459 --> 00:03:04.860 align:start position:0% speaking about it so this is what we'll talk<00:03:03.610> about<00:03:03.700> in<00:03:03.940> this<00:03:04.030> quick<00:03:04.420> talk<00:03:04.600> so<00:03:04.780> I'll 00:03:04.860 --> 00:03:04.870 align:start position:0% talk about in this quick talk so I'll 00:03:04.870 --> 00:03:06.509 align:start position:0% talk about in this quick talk so I'll just<00:03:05.050> share<00:03:05.260> some<00:03:05.500> goals<00:03:05.769> for<00:03:05.980> the<00:03:06.040> talk<00:03:06.250> we'll 00:03:06.509 --> 00:03:06.519 align:start position:0% just share some goals for the talk we'll 00:03:06.519 --> 00:03:08.070 align:start position:0% just share some goals for the talk we'll talk<00:03:06.640> about<00:03:06.790> what<00:03:07.030> governance<00:03:07.390> is<00:03:07.570> and<00:03:07.959> what 00:03:08.070 --> 00:03:08.080 align:start position:0% talk about what governance is and what 00:03:08.080 --> 00:03:10.050 align:start position:0% talk about what governance is and what we're<00:03:08.230> trying<00:03:08.380> to<00:03:08.500> cover<00:03:08.769> in<00:03:09.060> some 00:03:10.050 --> 00:03:10.060 align:start position:0% we're trying to cover in some 00:03:10.060 --> 00:03:12.420 align:start position:0% we're trying to cover in some terminology<00:03:10.709> quick<00:03:11.709> glance<00:03:11.980> at<00:03:12.130> the<00:03:12.160> agenda 00:03:12.420 --> 00:03:12.430 align:start position:0% terminology quick glance at the agenda 00:03:12.430 --> 00:03:14.380 align:start position:0% terminology quick glance at the agenda and<00:03:12.790> then<00:03:12.940> if<00:03:13.330> we<00:03:13.510> have<00:03:13.660> any<00:03:13.810> time<00:03:13.840> left 00:03:14.380 --> 00:03:14.390 align:start position:0% and then if we have any time left 00:03:14.390 --> 00:03:15.670 align:start position:0% and then if we have any time left we<00:03:14.450> can<00:03:14.630> talk<00:03:15.020> some<00:03:15.050> more<00:03:15.290> about<00:03:15.350> hearing 00:03:15.670 --> 00:03:15.680 align:start position:0% we can talk some more about hearing 00:03:15.680 --> 00:03:19.120 align:start position:0% we can talk some more about hearing permanence<00:03:16.160> as<00:03:16.280> a<00:03:16.310> case<00:03:16.550> thing<00:03:17.800> so<00:03:18.800> my<00:03:18.920> goals 00:03:19.120 --> 00:03:19.130 align:start position:0% permanence as a case thing so my goals 00:03:19.130 --> 00:03:20.910 align:start position:0% permanence as a case thing so my goals for<00:03:19.430> this<00:03:19.490> talk<00:03:19.730> are<00:03:19.880> pretty<00:03:20.090> straightforward 00:03:20.910 --> 00:03:20.920 align:start position:0% for this talk are pretty straightforward 00:03:20.920 --> 00:03:23.500 align:start position:0% for this talk are pretty straightforward first<00:03:21.920> of<00:03:22.010> all<00:03:22.130> everyone<00:03:22.550> just<00:03:22.790> warm<00:03:23.000> up<00:03:23.120> get 00:03:23.500 --> 00:03:23.510 align:start position:0% first of all everyone just warm up get 00:03:23.510 --> 00:03:27.809 align:start position:0% first of all everyone just warm up get some<00:03:23.660> caffeine<00:03:24.160> and<00:03:25.270> network<00:03:26.270> though<00:03:26.420> cause<00:03:26.630> I 00:03:27.809 --> 00:03:27.819 align:start position:0% some caffeine and network though cause I 00:03:27.819 --> 00:03:31.150 align:start position:0% some caffeine and network though cause I just<00:03:28.819> want<00:03:29.360> to<00:03:29.750> get<00:03:30.200> people<00:03:30.500> on<00:03:30.740> the<00:03:30.860> same<00:03:31.100> page 00:03:31.150 --> 00:03:31.160 align:start position:0% just want to get people on the same page 00:03:31.160 --> 00:03:32.680 align:start position:0% just want to get people on the same page about<00:03:31.640> governance<00:03:32.240> right<00:03:32.420> because 00:03:32.680 --> 00:03:32.690 align:start position:0% about governance right because 00:03:32.690 --> 00:03:35.230 align:start position:0% about governance right because governance<00:03:33.110> is<00:03:33.230> a<00:03:33.260> very<00:03:33.620> subjective<00:03:34.400> complex 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governance<00:03:49.880> ism<00:03:50.150> of<00:03:50.239> the<00:03:50.330> different 00:03:50.590 --> 00:03:50.600 align:start position:0% governance ism of the different 00:03:50.600 --> 00:03:52.570 align:start position:0% governance ism of the different definitions<00:03:50.720> of<00:03:51.200> it<00:03:51.350> and<00:03:52.100> we'll<00:03:52.250> we'll<00:03:52.489> get 00:03:52.570 --> 00:03:52.580 align:start position:0% definitions of it and we'll we'll get 00:03:52.580 --> 00:03:54.640 align:start position:0% definitions of it and we'll we'll get some<00:03:52.760> common<00:03:53.269> terminology<00:03:53.540> as<00:03:54.050> well<00:03:54.230> because 00:03:54.640 --> 00:03:54.650 align:start position:0% some common terminology as well because 00:03:54.650 --> 00:03:56.740 align:start position:0% some common terminology as well because you'll<00:03:54.860> hear<00:03:55.100> a<00:03:55.160> lot<00:03:55.370> of<00:03:55.489> these<00:03:55.610> terms<00:03:55.820> used<00:03:56.390> in 00:03:56.740 --> 00:03:56.750 align:start position:0% you'll hear a lot of these terms used in 00:03:56.750 --> 00:04:00.790 align:start position:0% you'll hear a lot of these terms used in some<00:03:56.930> of<00:03:57.019> the<00:03:57.140> talks<00:03:57.290> here<00:03:57.650> today<00:03:59.620> so<00:04:00.620> let's 00:04:00.790 --> 00:04:00.800 align:start position:0% some of the talks here today so let's 00:04:00.800 --> 00:04:02.770 align:start position:0% some of the talks here today so let's start<00:04:01.070> by<00:04:01.459> answering<00:04:01.610> or<00:04:02.090> trying<00:04:02.420> to<00:04:02.660> answer 00:04:02.770 --> 00:04:02.780 align:start position:0% start by answering or trying to answer 00:04:02.780 --> 00:04:04.750 align:start position:0% start by answering or trying to answer this<00:04:03.440> difficult<00:04:03.950> question<00:04:04.310> what<00:04:04.670> is 00:04:04.750 --> 00:04:04.760 align:start position:0% this difficult question what is 00:04:04.760 --> 00:04:06.190 align:start position:0% this difficult question what is governance<00:04:05.060> does<00:04:05.420> anyone<00:04:05.690> here<00:04:05.900> want<00:04:05.930> to 00:04:06.190 --> 00:04:06.200 align:start position:0% governance does anyone here want to 00:04:06.200 --> 00:04:10.150 align:start position:0% governance does anyone here want to offer<00:04:06.830> a<00:04:07.310> definition<00:04:08.230> but<00:04:09.230> you're<00:04:10.010> paying 00:04:10.150 --> 00:04:10.160 align:start position:0% offer a definition but you're paying 00:04:10.160 --> 00:04:11.590 align:start position:0% offer a definition but you're paying attention<00:04:10.519> you<00:04:10.610> seem<00:04:10.760> awake<00:04:11.000> what<00:04:11.269> is<00:04:11.360> going 00:04:11.590 --> 00:04:11.600 align:start position:0% attention you seem awake what is going 00:04:11.600 --> 00:04:16.090 align:start position:0% attention you seem awake what is going to<00:04:11.720> get<00:04:11.840> to<00:04:11.959> you<00:04:13.269> how<00:04:14.269> we<00:04:14.330> make<00:04:14.510> decisions 00:04:16.090 --> 00:04:16.100 align:start position:0% to get to you how we make decisions 00:04:16.100 --> 00:04:23.060 align:start position:0% to get to you how we make decisions [Music] 00:04:23.060 --> 00:04:23.070 align:start position:0% 00:04:23.070 --> 00:04:26.100 align:start position:0% okay<00:04:24.070> yes<00:04:24.490> so<00:04:24.669> so<00:04:24.940> max<00:04:25.330> has<00:04:25.540> a<00:04:25.570> very<00:04:25.810> good<00:04:25.960> point 00:04:26.100 --> 00:04:26.110 align:start position:0% okay yes so so max has a very good point 00:04:26.110 --> 00:04:27.540 align:start position:0% okay yes so so max has a very good point which<00:04:26.320> is<00:04:26.350> that<00:04:26.500> so<00:04:26.889> it's<00:04:27.100> very<00:04:27.130> much<00:04:27.400> about 00:04:27.540 --> 00:04:27.550 align:start position:0% which is that so it's very much about 00:04:27.550 --> 00:04:29.400 align:start position:0% which is that so it's very much about making<00:04:27.669> decisions<00:04:28.210> but<00:04:28.389> and<00:04:28.660> you<00:04:28.960> also<00:04:29.260> offer 00:04:29.400 --> 00:04:29.410 align:start position:0% making decisions but and you also offer 00:04:29.410 --> 00:04:30.690 align:start position:0% making decisions but and you also offer it<00:04:29.590> another<00:04:29.740> piece<00:04:30.010> which<00:04:30.160> is<00:04:30.220> that<00:04:30.460> it<00:04:30.550> were 00:04:30.690 --> 00:04:30.700 align:start position:0% it another piece which is that it were 00:04:30.700 --> 00:04:32.550 align:start position:0% it another piece which is that it were not<00:04:30.820> alone<00:04:31.180> right<00:04:31.419> it's<00:04:31.960> how<00:04:32.050> we<00:04:32.110> do<00:04:32.260> this<00:04:32.380> with 00:04:32.550 --> 00:04:32.560 align:start position:0% not alone right it's how we do this with 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as<00:04:44.050> well<00:04:44.200> cool 00:04:44.670 --> 00:04:44.680 align:start position:0% execution yeah process as well cool 00:04:44.680 --> 00:04:47.280 align:start position:0% execution yeah process as well cool so<00:04:45.040> um<00:04:45.400> I<00:04:45.760> don't<00:04:46.419> intend<00:04:46.630> you<00:04:46.750> to<00:04:46.870> read<00:04:47.020> all<00:04:47.260> of 00:04:47.280 --> 00:04:47.290 align:start position:0% so um I don't intend you to read all of 00:04:47.290 --> 00:04:49.320 align:start position:0% so um I don't intend you to read all of this<00:04:47.440> but<00:04:47.560> this<00:04:47.860> is<00:04:47.919> just<00:04:48.100> to<00:04:48.250> show<00:04:48.310> you<00:04:48.490> so 00:04:49.320 --> 00:04:49.330 align:start position:0% this but this is just to show you so 00:04:49.330 --> 00:04:50.820 align:start position:0% this but this is just to show you so this<00:04:49.419> is<00:04:49.480> from<00:04:49.690> an<00:04:49.780> exercise<00:04:49.990> that<00:04:50.139> John<00:04:50.530> and<00:04:50.740> I 00:04:50.820 --> 00:04:50.830 align:start position:0% this is from an exercise that John and I 00:04:50.830 --> 00:04:52.560 align:start position:0% this is from an exercise that John and I and<00:04:51.340> some<00:04:51.460> of<00:04:51.610> several<00:04:52.030> other<00:04:52.210> people<00:04:52.360> never 00:04:52.560 --> 00:04:52.570 align:start position:0% and some of several other people never 00:04:52.570 --> 00:04:54.690 align:start position:0% and some of several other people never participated<00:04:53.169> in<00:04:53.320> recently<00:04:53.800> a<00:04:54.010> roundtable 00:04:54.690 --> 00:04:54.700 align:start position:0% participated in recently a roundtable 00:04:54.700 --> 00:04:56.250 align:start position:0% participated in recently a roundtable conversation<00:04:55.030> about<00:04:55.540> governance<00:04:55.960> where<00:04:56.139> we 00:04:56.250 --> 00:04:56.260 align:start position:0% conversation about governance where we 00:04:56.260 --> 00:04:57.960 align:start position:0% conversation about governance where we one<00:04:56.650> of<00:04:56.740> the<00:04:56.800> things<00:04:56.979> we<00:04:57.190> tried<00:04:57.460> to<00:04:57.490> do<00:04:57.760> at<00:04:57.880> the 00:04:57.960 --> 00:04:57.970 align:start position:0% one of the things we tried to do at the 00:04:57.970 --> 00:04:59.490 align:start position:0% one of the things we tried to do at the beginning<00:04:58.090> is<00:04:58.360> we<00:04:58.510> try<00:04:58.690> to<00:04:58.720> define<00:04:58.960> governance 00:04:59.490 --> 00:04:59.500 align:start position:0% beginning is we try to define governance 00:04:59.500 --> 00:05:00.780 align:start position:0% beginning is we try to define governance we<00:05:00.160> came<00:05:00.310> up<00:05:00.430> with<00:05:00.550> all<00:05:00.639> these<00:05:00.729> different 00:05:00.780 --> 00:05:00.790 align:start position:0% we came up with all these different 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00:05:08.190 --> 00:05:08.200 align:start position:0% problems it's partly about power and 00:05:08.200 --> 00:05:10.980 align:start position:0% problems it's partly about power and authority<00:05:08.729> rules<00:05:09.729> change<00:05:10.270> management<00:05:10.660> so 00:05:10.980 --> 00:05:10.990 align:start position:0% authority rules change management so 00:05:10.990 --> 00:05:13.740 align:start position:0% authority rules change management so it's<00:05:11.440> a<00:05:11.560> very<00:05:11.710> great<00:05:11.830> complex<00:05:12.370> topic<00:05:12.850> again<00:05:13.300> I 00:05:13.740 --> 00:05:13.750 align:start position:0% it's a very great complex topic again I 00:05:13.750 --> 00:05:15.390 align:start position:0% it's a very great complex topic again I don't<00:05:13.990> we<00:05:14.770> don't<00:05:14.860> have<00:05:15.010> time<00:05:15.160> to<00:05:15.280> go<00:05:15.370> through 00:05:15.390 --> 00:05:15.400 align:start position:0% don't we don't have time to go through 00:05:15.400 --> 00:05:17.250 align:start position:0% don't we don't have time to go through all<00:05:15.639> of<00:05:15.669> these<00:05:15.850> you're<00:05:16.419> free<00:05:16.600> to<00:05:16.720> review<00:05:17.139> the 00:05:17.250 --> 00:05:17.260 align:start position:0% all of these you're free to review the 00:05:17.260 --> 00:05:20.940 align:start position:0% all of these you're free to review the slides<00:05:17.410> later<00:05:18.150> but<00:05:19.150> the<00:05:20.139> key<00:05:20.350> takeaway<00:05:20.530> for<00:05:20.770> me 00:05:20.940 --> 00:05:20.950 align:start position:0% slides later but the key takeaway for me 00:05:20.950 --> 00:05:22.830 align:start position:0% slides later but the key takeaway for me is<00:05:21.340> that<00:05:21.610> what<00:05:21.940> governance<00:05:22.240> really<00:05:22.540> boils 00:05:22.830 --> 00:05:22.840 align:start position:0% is that what governance really boils 00:05:22.840 --> 00:05:25.260 align:start position:0% is that what governance really boils down<00:05:22.900> to<00:05:23.050> is<00:05:23.260> exactly<00:05:24.130> what<00:05:24.400> these<00:05:24.639> two<00:05:24.700> folks 00:05:25.260 --> 00:05:25.270 align:start position:0% down to is exactly what these two folks 00:05:25.270 --> 00:05:27.450 align:start position:0% down to is exactly what these two folks over<00:05:25.479> here<00:05:25.570> brought<00:05:26.050> up<00:05:26.200> which<00:05:26.800> is<00:05:26.950> we<00:05:27.130> have<00:05:27.280> to 00:05:27.450 --> 00:05:27.460 align:start position:0% over here brought up which is we have to 00:05:27.460 --> 00:05:29.100 align:start position:0% over here brought up which is we have to make<00:05:27.610> decisions<00:05:28.150> together<00:05:28.390> as<00:05:28.810> a<00:05:28.870> community 00:05:29.100 --> 00:05:29.110 align:start position:0% make decisions together as a community 00:05:29.110 --> 00:05:31.260 align:start position:0% make decisions together as a community and<00:05:29.560> that's<00:05:30.130> a<00:05:30.280> very<00:05:30.370> difficult<00:05:30.640> thing<00:05:30.850> to<00:05:31.000> do 00:05:31.260 --> 00:05:31.270 align:start position:0% and that's a very difficult thing to do 00:05:31.270 --> 00:05:33.390 align:start position:0% and that's a very difficult thing to do right<00:05:31.630> because<00:05:32.010> we<00:05:33.010> all<00:05:33.130> have<00:05:33.280> different 00:05:33.390 --> 00:05:33.400 align:start position:0% right because we all have different 00:05:33.400 --> 00:05:34.920 align:start position:0% right because we all have different needs<00:05:33.610> we<00:05:34.000> have<00:05:34.030> different<00:05:34.360> values<00:05:34.450> we<00:05:34.840> have 00:05:34.920 --> 00:05:34.930 align:start position:0% needs we have different values we have 00:05:34.930 --> 00:05:36.570 align:start position:0% needs we have different values we have different<00:05:35.200> preferences<00:05:35.350> and<00:05:35.890> so<00:05:36.430> we're 00:05:36.570 --> 00:05:36.580 align:start position:0% different preferences and so we're 00:05:36.580 --> 00:05:37.830 align:start position:0% different preferences and so we're trying<00:05:36.789> to<00:05:37.030> sort<00:05:37.210> of<00:05:37.240> aggregate<00:05:37.570> those 00:05:37.830 --> 00:05:37.840 align:start position:0% trying to sort of aggregate those 00:05:37.840 --> 00:05:40.170 align:start position:0% trying to sort of aggregate those preferences<00:05:38.280> and<00:05:39.280> make<00:05:39.550> the<00:05:39.669> best<00:05:39.850> possible 00:05:40.170 --> 00:05:40.180 align:start position:0% preferences and make the best possible 00:05:40.180 --> 00:05:42.090 align:start position:0% preferences and make the best possible collective<00:05:40.900> decisions<00:05:41.260> we<00:05:41.350> can<00:05:41.560> and<00:05:41.860> enact 00:05:42.090 --> 00:05:42.100 align:start position:0% collective decisions we can and enact 00:05:42.100 --> 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what are we<00:05:51.310> trying<00:05:51.700> to<00:05:51.820> govern<00:05:52.090> and<00:05:52.419> I'm<00:05:52.870> going<00:05:53.050> to<00:05:53.080> use 00:05:53.310 --> 00:05:53.320 align:start position:0% we trying to govern and I'm going to use 00:05:53.320 --> 00:05:55.950 align:start position:0% we trying to govern and I'm going to use etherium<00:05:53.950> as<00:05:54.220> a<00:05:54.250> case<00:05:54.520> study<00:05:54.700> here<00:05:54.820> because<00:05:55.150> it 00:05:55.950 --> 00:05:55.960 align:start position:0% etherium as a case study here because it 00:05:55.960 --> 00:05:57.450 align:start position:0% etherium as a case study here because it just<00:05:56.020> helps<00:05:56.229> to<00:05:56.380> have<00:05:56.470> concrete<00:05:56.860> examples<00:05:57.280> not 00:05:57.450 --> 00:05:57.460 align:start position:0% just helps to have concrete examples not 00:05:57.460 --> 00:06:00.150 align:start position:0% just helps to have concrete examples not the<00:05:57.550> most<00:05:57.760> familiar<00:05:58.000> with<00:05:58.270> the<00:05:58.330> evidence<00:05:59.160> it's 00:06:00.150 --> 00:06:00.160 align:start position:0% the most familiar with the evidence it's 00:06:00.160 --> 00:06:02.790 align:start position:0% the most familiar with the evidence it's kind<00:06:00.400> of<00:06:00.460> all<00:06:00.669> these<00:06:00.880> things<00:06:01.180> right<00:06:01.690> so<00:06:01.990> like 00:06:02.790 --> 00:06:02.800 align:start position:0% kind of all these things right so like 00:06:02.800 --> 00:06:05.279 align:start position:0% kind of all these things right so like again<00:06:03.280> just<00:06:03.460> picking<00:06:03.700> on<00:06:03.789> aetherium<00:06:04.289> there's 00:06:05.279 --> 00:06:05.289 align:start position:0% again just picking on aetherium there's 00:06:05.289 --> 00:06:06.540 align:start position:0% again just picking on aetherium there's the<00:06:05.410> governance<00:06:05.800> of<00:06:05.979> the<00:06:06.220> etherion 00:06:06.540 --> 00:06:06.550 align:start position:0% the governance of the etherion 00:06:06.550 --> 00:06:08.850 align:start position:0% the governance of the etherion foundation<00:06:07.030> right<00:06:07.360> and<00:06:08.020> the<00:06:08.289> resources<00:06:08.740> it 00:06:08.850 --> 00:06:08.860 align:start position:0% foundation right and the resources it 00:06:08.860 --> 00:06:10.920 align:start position:0% foundation right and the resources it controls<00:06:09.220> so<00:06:09.700> that's<00:06:09.880> kind<00:06:10.120> of<00:06:10.180> a<00:06:10.450> meatspace 00:06:10.920 --> 00:06:10.930 align:start position:0% controls so that's kind of a meatspace 00:06:10.930 --> 00:06:13.200 align:start position:0% controls so that's kind of a meatspace idea<00:06:11.500> it's<00:06:11.710> very<00:06:11.919> very<00:06:12.160> specific<00:06:12.639> there's 00:06:13.200 --> 00:06:13.210 align:start position:0% idea it's very very specific there's 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you<00:06:19.180> know<00:06:19.270> around<00:06:19.450> the<00:06:19.570> world<00:06:19.660> but 00:06:20.490 --> 00:06:20.500 align:start position:0% in a room you know around the world but 00:06:20.500 --> 00:06:22.020 align:start position:0% in a room you know around the world but it's<00:06:20.620> much<00:06:20.770> bigger<00:06:21.010> it's<00:06:21.370> very<00:06:21.550> difficult<00:06:21.910> to 00:06:22.020 --> 00:06:22.030 align:start position:0% it's much bigger it's very difficult to 00:06:22.030 --> 00:06:23.400 align:start position:0% it's much bigger it's very difficult to define<00:06:22.240> that<00:06:22.420> community 00:06:23.400 --> 00:06:23.410 align:start position:0% define that community 00:06:23.410 --> 00:06:24.570 align:start position:0% define that community there's<00:06:23.770> the<00:06:23.890> governance<00:06:24.250> of<00:06:24.370> the<00:06:24.430> core 00:06:24.570 --> 00:06:24.580 align:start position:0% there's the governance of the core 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there<00:06:30.100> are<00:06:30.130> independent<00:06:30.820> client 00:06:31.740 --> 00:06:31.750 align:start position:0% theory there are independent client 00:06:31.750 --> 00:06:33.180 align:start position:0% theory there are independent client implementations<00:06:32.410> right<00:06:32.620> it's<00:06:32.740> very<00:06:32.890> opposed 00:06:33.180 --> 00:06:33.190 align:start position:0% implementations right it's very opposed 00:06:33.190 --> 00:06:34.740 align:start position:0% implementations right it's very opposed something<00:06:33.820> on<00:06:33.910> the<00:06:34.000> order<00:06:34.120> of<00:06:34.270> seven<00:06:34.570> or<00:06:34.690> eight 00:06:34.740 --> 00:06:34.750 align:start position:0% something on the order of seven or eight 00:06:34.750 --> 00:06:38.250 align:start position:0% something on the order of seven or eight of<00:06:34.780> these<00:06:35.010> entities<00:06:36.010> to<00:06:36.190> house<00:06:36.490> others<00:06:37.260> and 00:06:38.250 --> 00:06:38.260 align:start position:0% of these entities to house others and 00:06:38.260 --> 00:06:39.330 align:start position:0% of these entities to house others and they<00:06:38.380> each<00:06:38.530> have<00:06:38.560> their<00:06:38.830> own<00:06:38.920> governance 00:06:39.330 --> 00:06:39.340 align:start position:0% they each have their own governance 00:06:39.340 --> 00:06:42.990 align:start position:0% they each have their own governance processes<00:06:39.730> there<00:06:41.040> is<00:06:42.040> the<00:06:42.250> network<00:06:42.520> itself 00:06:42.990 --> 00:06:43.000 align:start position:0% processes there is the network itself 00:06:43.000 --> 00:06:45.500 align:start position:0% processes there is the network itself right<00:06:43.780> so<00:06:43.990> this<00:06:44.110> is<00:06:44.170> you<00:06:44.620> know<00:06:44.740> individual 00:06:45.500 --> 00:06:45.510 align:start position:0% right so this is you know individual 00:06:45.510 --> 00:06:48.240 align:start position:0% right so this is you know individual factors<00:06:46.510> running<00:06:46.930> nodes<00:06:47.530> and<00:06:47.710> software 00:06:48.240 --> 00:06:48.250 align:start position:0% factors running nodes and software 00:06:48.250 --> 00:06:50.450 align:start position:0% factors running nodes and software upgrading<00:06:48.880> those<00:06:49.030> nodes<00:06:49.240> there's<00:06:49.840> the<00:06:50.020> data 00:06:50.450 --> 00:06:50.460 align:start position:0% upgrading those nodes there's the data 00:06:50.460 --> 00:06:53.130 align:start position:0% upgrading those nodes there's the data inside<00:06:51.460> like<00:06:51.880> the<00:06:52.450> box<00:06:52.660> that's<00:06:53.020> the 00:06:53.130 --> 00:06:53.140 align:start position:0% inside like the box that's the 00:06:53.140 --> 00:06:54.870 align:start position:0% inside like the box that's the blockchain<00:06:53.350> and<00:06:53.800> so<00:06:54.070> this<00:06:54.250> is<00:06:54.400> where<00:06:54.550> we<00:06:54.730> have 00:06:54.870 --> 00:06:54.880 align:start position:0% blockchain and so this is where we have 00:06:54.880 --> 00:06:56.190 align:start position:0% blockchain and so this is where we have questions<00:06:55.300> about<00:06:55.419> accountability<00:06:56.110> and 00:06:56.190 --> 00:06:56.200 align:start position:0% questions about accountability and 00:06:56.200 --> 00:06:56.970 align:start position:0% questions about accountability and things<00:06:56.410> like<00:06:56.560> that 00:06:56.970 --> 00:06:56.980 align:start position:0% things like that 00:06:56.980 --> 00:06:58.560 align:start position:0% things like that there's<00:06:57.340> applications<00:06:57.880> I'm<00:06:58.150> sure<00:06:58.300> you<00:06:58.419> could 00:06:58.560 --> 00:06:58.570 align:start position:0% there's applications I'm sure you could 00:06:58.570 --> 00:07:00.900 align:start position:0% there's applications I'm sure you could have<00:06:58.660> more<00:06:58.810> things<00:06:58.960> to<00:06:59.110> this<00:06:59.260> list<00:06:59.669> for<00:07:00.669> the 00:07:00.900 --> 00:07:00.910 align:start position:0% have more things to this list for the 00:07:00.910 --> 00:07:03.390 align:start position:0% have more things to this list for the purposes<00:07:01.300> of<00:07:01.450> today<00:07:01.780> will<00:07:02.650> mostly<00:07:03.220> be 00:07:03.390 --> 00:07:03.400 align:start position:0% purposes of today will mostly be 00:07:03.400 --> 00:07:05.850 align:start position:0% purposes of today will mostly be focusing<00:07:03.940> on<00:07:04.120> these<00:07:04.330> two<00:07:04.720> things<00:07:04.860> and 00:07:05.850 --> 00:07:05.860 align:start position:0% focusing on these two things and 00:07:05.860 --> 00:07:07.740 align:start position:0% focusing on these two things and obviously<00:07:06.550> each<00:07:06.880> speaker<00:07:07.330> has<00:07:07.360> their<00:07:07.660> own 00:07:07.740 --> 00:07:07.750 align:start position:0% obviously each speaker has their own 00:07:07.750 --> 00:07:09.210 align:start position:0% obviously each speaker has their own take<00:07:07.990> on<00:07:08.140> this<00:07:08.260> each<00:07:08.440> project<00:07:08.680> has<00:07:08.890> their<00:07:09.130> own 00:07:09.210 --> 00:07:09.220 align:start position:0% take on this each project has their own 00:07:09.220 --> 00:07:10.800 align:start position:0% take on this each project has their own take<00:07:09.460> you'll<00:07:09.730> hear<00:07:09.910> about<00:07:10.000> other<00:07:10.120> pieces<00:07:10.419> but 00:07:10.800 --> 00:07:10.810 align:start position:0% take you'll hear about other pieces but 00:07:10.810 --> 00:07:12.780 align:start position:0% take you'll hear about other pieces but kind<00:07:11.350> of<00:07:11.380> the<00:07:11.440> most<00:07:11.680> relevant<00:07:11.919> and<00:07:12.340> concrete 00:07:12.780 --> 00:07:12.790 align:start position:0% kind of the most relevant and concrete 00:07:12.790 --> 00:07:15.090 align:start position:0% kind of the most relevant and concrete pieces<00:07:13.210> are<00:07:13.480> protocols<00:07:14.260> how<00:07:14.830> do<00:07:14.890> you<00:07:14.980> govern 00:07:15.090 --> 00:07:15.100 align:start position:0% pieces are protocols how do you govern 00:07:15.100 --> 00:07:16.950 align:start position:0% pieces are protocols how do you govern the<00:07:15.340> protocol<00:07:15.640> how<00:07:16.060> do<00:07:16.120> we<00:07:16.240> make<00:07:16.419> changes<00:07:16.900> to 00:07:16.950 --> 00:07:16.960 align:start position:0% the protocol how do we make changes to 00:07:16.960 --> 00:07:19.860 align:start position:0% the protocol how do we make changes to the<00:07:17.169> protocol<00:07:17.380> and<00:07:17.919> the<00:07:18.700> data<00:07:18.910> because<00:07:19.630> again 00:07:19.860 --> 00:07:19.870 align:start position:0% the protocol and the data because again 00:07:19.870 --> 00:07:21.330 align:start position:0% the protocol and the data because again there's<00:07:20.050> very<00:07:20.290> interesting<00:07:20.380> questions<00:07:21.040> here 00:07:21.330 --> 00:07:21.340 align:start position:0% there's very interesting questions here 00:07:21.340 --> 00:07:23.070 align:start position:0% there's very interesting questions here around<00:07:21.550> availability<00:07:22.240> and<00:07:22.390> around<00:07:22.690> property 00:07:23.070 --> 00:07:23.080 align:start position:0% around availability and around property 00:07:23.080 --> 00:07:28.590 align:start position:0% around availability and around property rights<00:07:26.400> so<00:07:27.400> this<00:07:27.850> is<00:07:27.970> this<00:07:28.120> is<00:07:28.270> sort<00:07:28.390> of<00:07:28.479> the 00:07:28.590 --> 00:07:28.600 align:start position:0% rights so this is this is sort of the 00:07:28.600 --> 00:07:30.719 align:start position:0% rights so this is this is sort of the main<00:07:28.690> takeaway<00:07:29.140> right<00:07:29.560> is<00:07:29.830> that<00:07:29.860> governance 00:07:30.719 --> 00:07:30.729 align:start position:0% main takeaway right is that governance 00:07:30.729 --> 00:07:33.150 align:start position:0% main takeaway right is that governance is<00:07:31.030> complex<00:07:31.870> it's<00:07:32.169> multifaceted<00:07:32.710> it's 00:07:33.150 --> 00:07:33.160 align:start position:0% is complex it's multifaceted it's 00:07:33.160 --> 00:07:35.090 align:start position:0% is complex it's multifaceted it's subjective<00:07:33.790> this<00:07:34.570> is<00:07:34.660> my<00:07:34.780> own<00:07:34.960> opinion 00:07:35.090 --> 00:07:35.100 align:start position:0% subjective this is my own opinion 00:07:35.100 --> 00:07:38.250 align:start position:0% subjective this is my own opinion there's<00:07:36.100> no<00:07:36.160> one<00:07:37.060> like<00:07:37.570> when<00:07:37.810> we<00:07:37.900> talk<00:07:38.229> about 00:07:38.250 --> 00:07:38.260 align:start position:0% there's no one like when we talk about 00:07:38.260 --> 00:07:40.950 align:start position:0% there's no one like when we talk about governance<00:07:38.830> we<00:07:39.160> have<00:07:39.940> this<00:07:40.120> desire<00:07:40.360> to<00:07:40.840> kind 00:07:40.950 --> 00:07:40.960 align:start position:0% governance we have this desire to kind 00:07:40.960 --> 00:07:42.870 align:start position:0% governance we have this desire to kind of<00:07:41.080> say<00:07:41.290> there's<00:07:41.950> a<00:07:42.070> good<00:07:42.280> governance<00:07:42.640> right 00:07:42.870 --> 00:07:42.880 align:start position:0% of say there's a good governance right 00:07:42.880 --> 00:07:44.490 align:start position:0% of say there's a good governance right good<00:07:43.120> governance<00:07:43.479> is<00:07:43.690> inclusive<00:07:44.080> good 00:07:44.490 --> 00:07:44.500 align:start position:0% good governance is inclusive good 00:07:44.500 --> 00:07:46.260 align:start position:0% good governance is inclusive good governance<00:07:44.830> is<00:07:45.010> democratic<00:07:45.610> governance<00:07:46.090> is 00:07:46.260 --> 00:07:46.270 align:start position:0% governance is democratic governance is 00:07:46.270 --> 00:07:49.200 align:start position:0% governance is democratic governance is representative<00:07:46.900> and<00:07:47.580> bad<00:07:48.580> governance<00:07:48.910> as 00:07:49.200 --> 00:07:49.210 align:start position:0% representative and bad governance as 00:07:49.210 --> 00:07:50.550 align:start position:0% representative and bad governance as other<00:07:49.450> things<00:07:49.540> are<00:07:49.960> none<00:07:50.110> of<00:07:50.200> those<00:07:50.320> things 00:07:50.550 --> 00:07:50.560 align:start position:0% other things are none of those things 00:07:50.560 --> 00:07:53.180 align:start position:0% other things are none of those things it's<00:07:51.250> really<00:07:51.370> not<00:07:51.760> that<00:07:51.820> simple<00:07:52.270> right 00:07:53.180 --> 00:07:53.190 align:start position:0% it's really not that simple right 00:07:53.190 --> 00:07:55.830 align:start position:0% it's really not that simple right governance<00:07:54.190> is<00:07:54.490> very<00:07:54.820> situational<00:07:55.540> and<00:07:55.750> I 00:07:55.830 --> 00:07:55.840 align:start position:0% governance is very situational and I 00:07:55.840 --> 00:07:57.900 align:start position:0% governance is very situational and I think<00:07:56.080> that<00:07:56.260> different<00:07:56.500> initiatives<00:07:57.280> need 00:07:57.900 --> 00:07:57.910 align:start position:0% think that different initiatives need 00:07:57.910 --> 00:08:00.140 align:start position:0% think that different initiatives need radically<00:07:58.840> different<00:07:59.140> forms<00:07:59.410> of<00:07:59.500> governance 00:08:00.140 --> 00:08:00.150 align:start position:0% radically different forms of governance 00:08:00.150 --> 00:08:03.000 align:start position:0% radically different forms of governance you<00:08:01.150> know<00:08:01.270> if<00:08:01.540> if<00:08:01.870> we<00:08:02.200> in<00:08:02.380> this<00:08:02.410> room<00:08:02.560> here 00:08:03.000 --> 00:08:03.010 align:start position:0% you know if if we in this room here 00:08:03.010 --> 00:08:04.860 align:start position:0% you know if if we in this room here that's<00:08:03.280> or<00:08:03.520> 30-ish<00:08:04.060> people<00:08:04.419> in<00:08:04.540> this<00:08:04.630> room 00:08:04.860 --> 00:08:04.870 align:start position:0% that's or 30-ish people in this room 00:08:04.870 --> 00:08:07.890 align:start position:0% that's or 30-ish people in this room were<00:08:05.500> to<00:08:05.620> get<00:08:05.740> together<00:08:05.890> and<00:08:06.430> you<00:08:07.060> know<00:08:07.660> we<00:08:07.750> had 00:08:07.890 --> 00:08:07.900 align:start position:0% were to get together and you know we had 00:08:07.900 --> 00:08:09.270 align:start position:0% were to get together and you know we had a<00:08:07.930> task<00:08:08.200> we<00:08:08.440> didn't<00:08:08.650> build<00:08:08.770> something<00:08:09.160> or 00:08:09.270 --> 00:08:09.280 align:start position:0% a task we didn't build something or 00:08:09.280 --> 00:08:13.440 align:start position:0% a task we didn't build something or construct<00:08:09.669> something<00:08:10.919> maybe<00:08:12.180> you<00:08:13.180> know<00:08:13.300> we 00:08:13.440 --> 00:08:13.450 align:start position:0% construct something maybe you know we 00:08:13.450 --> 00:08:15.030 align:start position:0% construct something maybe you know we don't<00:08:13.570> need<00:08:13.780> complex<00:08:14.200> governance<00:08:14.680> structures 00:08:15.030 --> 00:08:15.040 align:start position:0% don't need complex governance structures 00:08:15.040 --> 00:08:16.559 align:start position:0% don't need complex governance structures maybe<00:08:15.250> is<00:08:15.430> a<00:08:15.460> small<00:08:15.760> enough<00:08:15.940> room 00:08:16.559 --> 00:08:16.569 align:start position:0% maybe is a small enough room 00:08:16.569 --> 00:08:17.939 align:start position:0% maybe is a small enough room we<00:08:16.629> trust<00:08:16.899> each<00:08:16.990> other<00:08:17.229> well<00:08:17.529> enough<00:08:17.559> and 00:08:17.939 --> 00:08:17.949 align:start position:0% we trust each other well enough and 00:08:17.949 --> 00:08:20.790 align:start position:0% we trust each other well enough and maybe<00:08:18.069> speak<00:08:18.309> the<00:08:18.460> same<00:08:18.580> language<00:08:19.259> that<00:08:20.259> you 00:08:20.790 --> 00:08:20.800 align:start position:0% maybe speak the same language that you 00:08:20.800 --> 00:08:22.709 align:start position:0% maybe speak the same language that you know<00:08:20.919> maybe<00:08:21.520> we<00:08:21.759> decide<00:08:22.059> to<00:08:22.149> do<00:08:22.270> something<00:08:22.599> in 00:08:22.709 --> 00:08:22.719 align:start position:0% know maybe we decide to do something in 00:08:22.719 --> 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time and<00:08:28.270> that's<00:08:28.539> maybe<00:08:28.779> perfectly<00:08:29.229> okay<00:08:29.499> again<00:08:29.740> in 00:08:29.939 --> 00:08:29.949 align:start position:0% and that's maybe perfectly okay again in 00:08:29.949 --> 00:08:31.739 align:start position:0% and that's maybe perfectly okay again in this<00:08:30.129> small<00:08:30.459> context<00:08:31.059> of<00:08:31.179> a<00:08:31.240> small<00:08:31.479> group<00:08:31.599> of 00:08:31.739 --> 00:08:31.749 align:start position:0% this small context of a small group of 00:08:31.749 --> 00:08:34.079 align:start position:0% this small context of a small group of people<00:08:32.110> on<00:08:32.169> a<00:08:32.259> small<00:08:32.500> time<00:08:32.709> period<00:08:33.099> but<00:08:33.969> of 00:08:34.079 --> 00:08:34.089 align:start position:0% people on a small time period but of 00:08:34.089 --> 00:08:35.790 align:start position:0% people on a small time period but of course<00:08:34.329> when<00:08:34.569> we<00:08:34.659> scale<00:08:34.930> out<00:08:35.110> to<00:08:35.319> the<00:08:35.409> level<00:08:35.680> of 00:08:35.790 --> 00:08:35.800 align:start position:0% course when we scale out to the level of 00:08:35.800 --> 00:08:37.319 align:start position:0% course when we scale out to the level of a<00:08:35.860> blockchain<00:08:36.099> or<00:08:36.519> even<00:08:36.699> further<00:08:36.940> to<00:08:37.240> the 00:08:37.319 --> 00:08:37.329 align:start position:0% a blockchain or even further to the 00:08:37.329 --> 00:08:39.149 align:start position:0% a blockchain or even further to the level<00:08:37.539> of<00:08:37.599> a<00:08:37.659> society<00:08:38.259> or<00:08:38.289> a<00:08:38.529> continent<00:08:38.919> or<00:08:39.130> a 00:08:39.149 --> 00:08:39.159 align:start position:0% level of a society or a continent or a 00:08:39.159 --> 00:08:40.649 align:start position:0% level of a society or a continent or a nation-state<00:08:39.490> we<00:08:40.240> need<00:08:40.389> very<00:08:40.539> different 00:08:40.649 --> 00:08:40.659 align:start position:0% nation-state we need very different 00:08:40.659 --> 00:08:42.329 align:start position:0% nation-state we need very different things<00:08:41.019> in<00:08:41.139> our<00:08:41.199> governance<00:08:41.589> so<00:08:41.889> I<00:08:41.919> just<00:08:42.099> want 00:08:42.329 --> 00:08:42.339 align:start position:0% things in our governance so I just want 00:08:42.339 --> 00:08:44.040 align:start position:0% things in our governance so I just want you<00:08:42.639> all<00:08:42.819> to<00:08:42.849> reflect<00:08:43.329> a<00:08:43.419> little<00:08:43.539> bit<00:08:43.690> as<00:08:43.930> you 00:08:44.040 --> 00:08:44.050 align:start position:0% you all to reflect a little bit as you 00:08:44.050 --> 00:08:49.170 align:start position:0% you all to reflect a little bit as you hear<00:08:44.319> these<00:08:44.500> talks<00:08:44.829> today<00:08:45.009> on<00:08:45.670> them<00:08:47.040> like<00:08:48.180> like 00:08:49.170 --> 00:08:49.180 align:start position:0% hear these talks today on them like like 00:08:49.180 --> 00:08:50.280 align:start position:0% hear these talks today on them like like what<00:08:49.389> is<00:08:49.480> good<00:08:49.630> governance<00:08:49.870> but<00:08:50.079> it's<00:08:50.170> bad 00:08:50.280 --> 00:08:50.290 align:start position:0% what is good governance but it's bad 00:08:50.290 --> 00:08:52.949 align:start position:0% what is good governance but it's bad governance<00:08:50.529> mean<00:08:51.509> what<00:08:52.509> are<00:08:52.630> the<00:08:52.720> criteria 00:08:52.949 --> 00:08:52.959 align:start position:0% governance mean what are the criteria 00:08:52.959 --> 00:08:55.259 align:start position:0% governance mean what are the criteria like<00:08:53.529> thick<00:08:53.769> while<00:08:54.250> there<00:08:54.399> is<00:08:54.519> no<00:08:54.699> absolute 00:08:55.259 --> 00:08:55.269 align:start position:0% like thick while there is no absolute 00:08:55.269 --> 00:08:57.749 align:start position:0% like thick while there is no absolute good<00:08:55.540> or<00:08:55.660> bad<00:08:55.779> there<00:08:56.470> are<00:08:56.740> certain<00:08:57.430> things 00:08:57.749 --> 00:08:57.759 align:start position:0% good or bad there are certain things 00:08:57.759 --> 00:09:00.389 align:start position:0% good or bad there are certain things that<00:08:58.180> I<00:08:58.389> think<00:08:58.660> we<00:08:58.930> can<00:08:59.139> say<00:08:59.800> or<00:09:00.009> certain 00:09:00.389 --> 00:09:00.399 align:start position:0% that I think we can say or certain 00:09:00.399 --> 00:09:01.889 align:start position:0% that I think we can say or certain properties<00:09:00.819> of<00:09:00.850> many<00:09:01.269> or<00:09:01.449> most<00:09:01.600> good 00:09:01.889 --> 00:09:01.899 align:start position:0% properties of many or most good 00:09:01.899 --> 00:09:03.210 align:start position:0% properties of many or most good governance<00:09:02.230> systems<00:09:02.620> and<00:09:02.740> these<00:09:02.800> are<00:09:03.009> things 00:09:03.210 --> 00:09:03.220 align:start position:0% governance systems and these are things 00:09:03.220 --> 00:09:06.480 align:start position:0% governance systems and these are things like<00:09:03.430> inclusivity<00:09:04.300> and<00:09:04.600> restoring<00:09:05.410> a<00:09:06.100> new 00:09:06.480 --> 00:09:06.490 align:start position:0% like inclusivity and restoring a new 00:09:06.490 --> 00:09:07.829 align:start position:0% like inclusivity and restoring a new permissionless<00:09:06.880> participatory<00:09:07.389> nature<00:09:07.509> of 00:09:07.829 --> 00:09:07.839 align:start position:0% permissionless participatory nature of 00:09:07.839 --> 00:09:12.600 align:start position:0% permissionless participatory nature of these<00:09:07.959> systems<00:09:10.800> another<00:09:11.800> very<00:09:12.130> important 00:09:12.600 --> 00:09:12.610 align:start position:0% these systems another very important 00:09:12.610 --> 00:09:15.090 align:start position:0% these systems another very important point<00:09:12.759> that<00:09:13.120> I<00:09:13.899> hope<00:09:14.170> sets<00:09:14.440> the<00:09:14.589> stage<00:09:14.740> for<00:09:14.800> the 00:09:15.090 --> 00:09:15.100 align:start position:0% point that I hope sets the stage for the 00:09:15.100 --> 00:09:16.439 align:start position:0% point that I hope sets the stage for the talks<00:09:15.370> today<00:09:15.519> is<00:09:15.730> this<00:09:15.910> interesting<00:09:16.269> question 00:09:16.439 --> 00:09:16.449 align:start position:0% talks today is this interesting question 00:09:16.449 --> 00:09:17.699 align:start position:0% talks today is this interesting question right<00:09:16.899> so<00:09:17.050> so<00:09:17.259> when<00:09:17.410> we<00:09:17.529> talk<00:09:17.680> about 00:09:17.699 --> 00:09:17.709 align:start position:0% right so so when we talk about 00:09:17.709 --> 00:09:18.900 align:start position:0% right so so when we talk about governance<00:09:18.279> in<00:09:18.399> the<00:09:18.459> context<00:09:18.850> that 00:09:18.900 --> 00:09:18.910 align:start position:0% governance in the context that 00:09:18.910 --> 00:09:20.249 align:start position:0% governance in the context that blockchain<00:09:19.389> there's<00:09:19.600> two<00:09:19.720> very<00:09:20.019> very 00:09:20.249 --> 00:09:20.259 align:start position:0% blockchain there's two very very 00:09:20.259 --> 00:09:22.170 align:start position:0% blockchain there's two very very different<00:09:20.350> ankles<00:09:20.920> on<00:09:21.040> it<00:09:21.160> there<00:09:21.699> is<00:09:21.819> the<00:09:21.970> idea 00:09:22.170 --> 00:09:22.180 align:start position:0% different ankles on it there is the idea 00:09:22.180 --> 00:09:23.429 align:start position:0% different ankles on it there is the idea of<00:09:22.209> governance<00:09:22.630> of<00:09:22.750> a<00:09:22.810> blockchain<00:09:23.079> and 00:09:23.429 --> 00:09:23.439 align:start position:0% of governance of a blockchain and 00:09:23.439 --> 00:09:25.470 align:start position:0% of governance of a blockchain and governance<00:09:23.740> by<00:09:24.069> blockchain<00:09:24.610> there's<00:09:25.420> a 00:09:25.470 --> 00:09:25.480 align:start position:0% governance by blockchain there's a 00:09:25.480 --> 00:09:26.879 align:start position:0% governance by blockchain there's a really<00:09:25.720> incredible<00:09:26.290> researcher<00:09:26.709> named 00:09:26.879 --> 00:09:26.889 align:start position:0% really incredible researcher named 00:09:26.889 --> 00:09:28.920 align:start position:0% really incredible researcher named Primavera<00:09:27.399> that<00:09:27.579> the<00:09:27.670> VP<00:09:27.939> who<00:09:28.149> has<00:09:28.300> done<00:09:28.509> a<00:09:28.720> lot 00:09:28.920 --> 00:09:28.930 align:start position:0% Primavera that the VP who has done a lot 00:09:28.930 --> 00:09:31.170 align:start position:0% Primavera that the VP who has done a lot of<00:09:28.990> really<00:09:29.529> just<00:09:30.430> mind-blowing<00:09:30.880> mean 00:09:31.170 --> 00:09:31.180 align:start position:0% of really just mind-blowing mean 00:09:31.180 --> 00:09:33.569 align:start position:0% of really just mind-blowing mean excellent<00:09:31.449> work<00:09:31.720> on<00:09:32.130> governance<00:09:33.130> in<00:09:33.279> general 00:09:33.569 --> 00:09:33.579 align:start position:0% excellent work on governance in general 00:09:33.579 --> 00:09:35.069 align:start position:0% excellent work on governance in general on<00:09:33.670> blocking<00:09:33.880> governance<00:09:34.420> I<00:09:34.509> very<00:09:34.750> strongly 00:09:35.069 --> 00:09:35.079 align:start position:0% on blocking governance I very strongly 00:09:35.079 --> 00:09:37.350 align:start position:0% on blocking governance I very strongly encourage<00:09:35.529> you<00:09:35.740> to<00:09:35.769> Google<00:09:36.610> her<00:09:36.790> read<00:09:37.149> some<00:09:37.329> of 00:09:37.350 --> 00:09:37.360 align:start position:0% encourage you to Google her read some of 00:09:37.360 --> 00:09:40.110 align:start position:0% encourage you to Google her read some of her<00:09:37.649> papers<00:09:38.649> and<00:09:38.920> it<00:09:39.040> was<00:09:39.220> her<00:09:39.399> she's<00:09:39.939> spoken 00:09:40.110 --> 00:09:40.120 align:start position:0% her papers and it was her she's spoken 00:09:40.120 --> 00:09:42.590 align:start position:0% her papers and it was her she's spoken very<00:09:40.420> eloquently<00:09:40.540> about<00:09:41.079> this<00:09:41.319> topic 00:09:42.590 --> 00:09:42.600 align:start position:0% very eloquently about this topic 00:09:42.600 --> 00:09:45.749 align:start position:0% very eloquently about this topic governance<00:09:43.600> of<00:09:43.839> blockchain<00:09:44.589> is<00:09:44.980> how<00:09:45.189> do<00:09:45.250> we<00:09:45.610> go 00:09:45.749 --> 00:09:45.759 align:start position:0% governance of blockchain is how do we go 00:09:45.759 --> 00:09:46.980 align:start position:0% governance of blockchain is how do we go in<00:09:45.790> the<00:09:46.000> blockchain<00:09:46.180> itself<00:09:46.660> right<00:09:46.839> and 00:09:46.980 --> 00:09:46.990 align:start position:0% in the blockchain itself right and 00:09:46.990 --> 00:09:47.879 align:start position:0% in the blockchain itself right and that's<00:09:47.110> kind<00:09:47.259> of<00:09:47.290> what<00:09:47.410> I<00:09:47.439> showed<00:09:47.649> you<00:09:47.860> a 00:09:47.879 --> 00:09:47.889 align:start position:0% that's kind of what I showed you a 00:09:47.889 --> 00:09:51.059 align:start position:0% that's kind of what I showed you a moment<00:09:48.189> ago<00:09:48.839> when<00:09:49.839> I<00:09:49.870> was<00:09:50.230> talking<00:09:50.380> about<00:09:50.589> what 00:09:51.059 --> 00:09:51.069 align:start position:0% moment ago when I was talking about what 00:09:51.069 --> 00:09:53.040 align:start position:0% moment ago when I was talking about what we're<00:09:51.250> governing<00:09:51.610> governance<00:09:52.449> by<00:09:52.720> law 00:09:53.040 --> 00:09:53.050 align:start position:0% we're governing governance by law 00:09:53.050 --> 00:09:55.050 align:start position:0% we're governing governance by law changes<00:09:53.500> have<00:09:53.589> a<00:09:53.620> much<00:09:53.889> bigger<00:09:54.250> idea<00:09:54.790> which<00:09:55.029> is 00:09:55.050 --> 00:09:55.060 align:start position:0% changes have a much bigger idea which is 00:09:55.060 --> 00:09:57.120 align:start position:0% changes have a much bigger idea which is that<00:09:55.360> once<00:09:55.630> we<00:09:55.870> figure<00:09:56.199> out<00:09:56.230> how<00:09:56.649> to<00:09:56.680> govern 00:09:57.120 --> 00:09:57.130 align:start position:0% that once we figure out how to govern 00:09:57.130 --> 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position:0% maybe they offer an alternative to some of<00:10:03.399> our<00:10:03.519> existing<00:10:03.930> institutions<00:10:04.930> and 00:10:05.129 --> 00:10:05.139 align:start position:0% of our existing institutions and 00:10:05.139 --> 00:10:06.329 align:start position:0% of our existing institutions and governance<00:10:05.380> structures<00:10:05.860> whether<00:10:06.069> its 00:10:06.329 --> 00:10:06.339 align:start position:0% governance structures whether its 00:10:06.339 --> 00:10:10.350 align:start position:0% governance structures whether its monetary<00:10:06.970> whether<00:10:07.689> it's<00:10:07.930> you<00:10:08.860> know<00:10:09.329> ways<00:10:10.329> to 00:10:10.350 --> 00:10:10.360 align:start position:0% monetary whether it's you know ways to 00:10:10.360 --> 00:10:11.970 align:start position:0% monetary whether it's you know ways to build<00:10:10.569> better<00:10:10.720> democracies<00:10:11.380> a<00:10:11.410> lot<00:10:11.800> of<00:10:11.889> the 00:10:11.970 --> 00:10:11.980 align:start position:0% build better democracies a lot of the 00:10:11.980 --> 00:10:14.129 align:start position:0% build better democracies a lot of the ideas<00:10:12.279> that<00:10:12.310> are<00:10:12.430> being<00:10:12.519> explored<00:10:12.910> in<00:10:13.420> the 00:10:14.129 --> 00:10:14.139 align:start position:0% ideas that are being explored in the 00:10:14.139 --> 00:10:15.170 align:start position:0% ideas that are being explored in the radical<00:10:14.560> exchange 00:10:15.170 --> 00:10:15.180 align:start position:0% radical exchange 00:10:15.180 --> 00:10:18.080 align:start position:0% radical exchange things<00:10:15.690> like<00:10:15.840> that<00:10:16.380> but<00:10:16.980> for<00:10:17.610> the<00:10:17.670> purposes<00:10:18.030> of 00:10:18.080 --> 00:10:18.090 align:start position:0% things like that but for the purposes of 00:10:18.090 --> 00:10:20.450 align:start position:0% things like that but for the purposes of today<00:10:18.800> we're<00:10:19.800> going<00:10:19.890> to<00:10:19.980> be<00:10:20.070> focusing 00:10:20.450 --> 00:10:20.460 align:start position:0% today we're going to be focusing 00:10:20.460 --> 00:10:22.550 align:start position:0% today we're going to be focusing primarily<00:10:20.640> the<00:10:21.210> governance<00:10:21.630> of<00:10:21.780> blockchain 00:10:22.550 --> 00:10:22.560 align:start position:0% primarily the governance of blockchain 00:10:22.560 --> 00:10:24.050 align:start position:0% primarily the governance of blockchain right<00:10:22.770> so<00:10:22.980> how<00:10:23.190> do<00:10:23.250> we<00:10:23.400> cover<00:10:23.760> in<00:10:23.910> these 00:10:24.050 --> 00:10:24.060 align:start position:0% right so how do we cover in these 00:10:24.060 --> 00:10:26.270 align:start position:0% right so how do we cover in these complex<00:10:24.390> projects<00:10:24.960> and<00:10:25.140> my<00:10:25.740> personal<00:10:26.130> goal 00:10:26.270 --> 00:10:26.280 align:start position:0% complex projects and my personal goal 00:10:26.280 --> 00:10:27.770 align:start position:0% complex projects and my personal goal was<00:10:26.460> that<00:10:26.640> you<00:10:26.790> know<00:10:26.880> hopefully<00:10:27.090> we<00:10:27.450> come<00:10:27.630> back 00:10:27.770 --> 00:10:27.780 align:start position:0% was that you know hopefully we come back 00:10:27.780 --> 00:10:29.930 align:start position:0% was that you know hopefully we come back a<00:10:28.020> year<00:10:28.230> from<00:10:28.380> now<00:10:28.470> and<00:10:29.010> we<00:10:29.430> figured<00:10:29.760> out<00:10:29.850> how 00:10:29.930 --> 00:10:29.940 align:start position:0% a year from now and we figured out how 00:10:29.940 --> 00:10:31.190 align:start position:0% a year from now and we figured out how to<00:10:30.000> govern<00:10:30.180> blockchains<00:10:30.720> and<00:10:30.900> then<00:10:30.990> we<00:10:31.050> can 00:10:31.190 --> 00:10:31.200 align:start position:0% to govern blockchains and then we can 00:10:31.200 --> 00:10:32.690 align:start position:0% to govern blockchains and then we can begin<00:10:31.410> using<00:10:31.590> blockchains<00:10:32.160> to<00:10:32.340> govern<00:10:32.610> the 00:10:32.690 --> 00:10:32.700 align:start position:0% begin using blockchains to govern the 00:10:32.700 --> 00:10:33.890 align:start position:0% begin using blockchains to govern the world<00:10:32.790> using<00:10:33.180> projects<00:10:33.510> like<00:10:33.660> democracy 00:10:33.890 --> 00:10:33.900 align:start position:0% world using projects like democracy 00:10:33.900 --> 00:10:39.430 align:start position:0% world using projects like democracy earth<00:10:34.320> which<00:10:34.500> is<00:10:34.620> not<00:10:34.770> these<00:10:34.920> projects<00:10:37.400> yeah 00:10:39.430 --> 00:10:39.440 align:start position:0% earth which is not these projects yeah 00:10:39.440 --> 00:10:43.520 align:start position:0% earth which is not these projects yeah executed<00:10:40.460> precision<00:10:42.050> all<00:10:43.050> right<00:10:43.170> cool<00:10:43.410> so 00:10:43.520 --> 00:10:43.530 align:start position:0% executed precision all right cool so 00:10:43.530 --> 00:10:45.920 align:start position:0% executed precision all right cool so let's<00:10:43.710> just<00:10:44.070> try<00:10:44.610> to<00:10:44.730> talk<00:10:45.450> about<00:10:45.570> some<00:10:45.810> very 00:10:45.920 --> 00:10:45.930 align:start position:0% let's just try to talk about some very 00:10:45.930 --> 00:10:48.530 align:start position:0% let's just try to talk about some very basic<00:10:46.020> terminology<00:10:46.920> there's<00:10:47.640> a<00:10:47.700> lot<00:10:47.970> here<00:10:48.270> and 00:10:48.530 --> 00:10:48.540 align:start position:0% basic terminology there's a lot here and 00:10:48.540 --> 00:10:50.570 align:start position:0% basic terminology there's a lot here and a<00:10:48.810> very<00:10:49.140> limited<00:10:49.320> time<00:10:49.560> I'm<00:10:49.980> not<00:10:50.160> going<00:10:50.400> to<00:10:50.460> go 00:10:50.570 --> 00:10:50.580 align:start position:0% a very limited time I'm not going to go 00:10:50.580 --> 00:10:51.950 align:start position:0% a very limited time I'm not going to go through<00:10:50.760> everything<00:10:51.090> but<00:10:51.360> this<00:10:51.510> is<00:10:51.630> just<00:10:51.840> the 00:10:51.950 --> 00:10:51.960 align:start position:0% through everything but this is just the 00:10:51.960 --> 00:10:54.740 align:start position:0% through everything but this is just the core<00:10:52.380> most<00:10:52.710> important<00:10:53.280> concepts<00:10:53.670> but<00:10:54.480> I<00:10:54.540> think 00:10:54.740 --> 00:10:54.750 align:start position:0% core most important concepts but I think 00:10:54.750 --> 00:10:55.970 align:start position:0% core most important concepts but I think you're<00:10:54.840> going<00:10:54.960> to<00:10:55.020> hear<00:10:55.140> one<00:10:55.350> of<00:10:55.380> today's<00:10:55.710> so 00:10:55.970 --> 00:10:55.980 align:start position:0% you're going to hear one of today's so 00:10:55.980 --> 00:10:58.490 align:start position:0% you're going to hear one of today's so very<00:10:56.400> very<00:10:56.610> very<00:10:56.910> briefly<00:10:57.180> at<00:10:57.870> enemas<00:10:58.230> ation 00:10:58.490 --> 00:10:58.500 align:start position:0% very very very briefly at enemas ation 00:10:58.500 --> 00:11:01.700 align:start position:0% very very very briefly at enemas ation is<00:10:58.620> a<00:10:58.650> big<00:10:58.860> part<00:10:59.130> of<00:10:59.190> governance<00:11:00.350> you<00:11:01.350> know<00:11:01.470> how 00:11:01.700 --> 00:11:01.710 align:start position:0% is a big part of governance you know how 00:11:01.710 --> 00:11:02.960 align:start position:0% is a big part of governance you know how we<00:11:01.770> incentivize<00:11:02.280> people<00:11:02.430> to<00:11:02.580> flow<00:11:02.910> to 00:11:02.960 --> 00:11:02.970 align:start position:0% we incentivize people to flow to 00:11:02.970 --> 00:11:06.200 align:start position:0% we incentivize people to flow to participate<00:11:03.780> to<00:11:04.650> have<00:11:04.770> skin<00:11:05.010> in<00:11:05.130> the<00:11:05.190> game<00:11:05.220> how 00:11:06.200 --> 00:11:06.210 align:start position:0% participate to have skin in the game how 00:11:06.210 --> 00:11:07.940 align:start position:0% participate to have skin in the game how you<00:11:06.720> know<00:11:06.780> in<00:11:06.900> the<00:11:06.960> context<00:11:07.350> of<00:11:07.440> blockchain 00:11:07.940 --> 00:11:07.950 align:start position:0% you know in the context of blockchain 00:11:07.950 --> 00:11:10.130 align:start position:0% you know in the context of blockchain are<00:11:08.310> we<00:11:08.550> offering<00:11:08.820> block<00:11:09.540> rewards<00:11:10.050> or 00:11:10.130 --> 00:11:10.140 align:start position:0% are we offering block rewards or 00:11:10.140 --> 00:11:12.880 align:start position:0% are we offering block rewards or validator<00:11:10.530> rewards<00:11:10.950> or<00:11:11.040> something<00:11:11.310> like<00:11:11.430> that 00:11:12.880 --> 00:11:12.890 align:start position:0% validator rewards or something like that 00:11:12.890 --> 00:11:15.290 align:start position:0% validator rewards or something like that legitimacy<00:11:13.890> and<00:11:13.950> authority<00:11:14.070> are<00:11:14.400> just<00:11:14.820> really 00:11:15.290 --> 00:11:15.300 align:start position:0% legitimacy and authority are just really 00:11:15.300 --> 00:11:17.900 align:start position:0% legitimacy and authority are just really poor<00:11:15.600> sexual<00:11:16.380> questions<00:11:16.920> in<00:11:17.280> any<00:11:17.490> system<00:11:17.850> of 00:11:17.900 --> 00:11:17.910 align:start position:0% poor sexual questions in any system of 00:11:17.910 --> 00:11:19.880 align:start position:0% poor sexual questions in any system of governance<00:11:18.330> what<00:11:18.930> is<00:11:19.020> kind<00:11:19.230> of<00:11:19.260> the<00:11:19.380> source<00:11:19.710> of 00:11:19.880 --> 00:11:19.890 align:start position:0% governance what is kind of the source of 00:11:19.890 --> 00:11:22.310 align:start position:0% governance what is kind of the source of legitimacy<00:11:19.980> right<00:11:20.910> why<00:11:21.150> do<00:11:21.210> we<00:11:21.540> believe<00:11:21.750> that 00:11:22.310 --> 00:11:22.320 align:start position:0% legitimacy right why do we believe that 00:11:22.320 --> 00:11:24.770 align:start position:0% legitimacy right why do we believe that in<00:11:22.800> the<00:11:22.950> context<00:11:23.430> of<00:11:23.520> my<00:11:24.150> home<00:11:24.330> country<00:11:24.510> of<00:11:24.660> the 00:11:24.770 --> 00:11:24.780 align:start position:0% in the context of my home country of the 00:11:24.780 --> 00:11:26.780 align:start position:0% in the context of my home country of the United<00:11:24.840> States<00:11:25.080> right<00:11:25.560> why<00:11:26.100> do<00:11:26.160> we<00:11:26.400> invest<00:11:26.670> a 00:11:26.780 --> 00:11:26.790 align:start position:0% United States right why do we invest a 00:11:26.790 --> 00:11:28.610 align:start position:0% United States right why do we invest a power<00:11:26.970> in<00:11:27.360> the<00:11:27.600> supreme<00:11:27.930> or<00:11:28.140> why<00:11:28.230> do<00:11:28.290> we<00:11:28.410> invest 00:11:28.610 --> 00:11:28.620 align:start position:0% power in the supreme or why do we invest 00:11:28.620 --> 00:11:30.710 align:start position:0% power in the supreme or why do we invest power<00:11:28.920> in<00:11:29.190> the<00:11:29.310> office<00:11:29.640> of<00:11:29.760> President<00:11:30.180> or<00:11:30.420> in 00:11:30.710 --> 00:11:30.720 align:start position:0% power in the office of President or in 00:11:30.720 --> 00:11:33.560 align:start position:0% power in the office of President or in the<00:11:31.470> Congress<00:11:31.940> what<00:11:32.940> is<00:11:33.030> the<00:11:33.120> source<00:11:33.360> of<00:11:33.480> that 00:11:33.560 --> 00:11:33.570 align:start position:0% the Congress what is the source of that 00:11:33.570 --> 00:11:35.120 align:start position:0% the Congress what is the source of that is<00:11:33.720> that<00:11:33.810> the<00:11:33.870> Constitution<00:11:34.590> is<00:11:34.680> it<00:11:34.830> a<00:11:34.890> set<00:11:35.040> of 00:11:35.120 --> 00:11:35.130 align:start position:0% is that the Constitution is it a set of 00:11:35.130 --> 00:11:36.820 align:start position:0% is that the Constitution is it a set of shared<00:11:35.280> values<00:11:35.400> is<00:11:35.850> it<00:11:35.940> something<00:11:36.090> else 00:11:36.820 --> 00:11:36.830 align:start position:0% shared values is it something else 00:11:36.830 --> 00:11:40.970 align:start position:0% shared values is it something else what<00:11:37.830> gives<00:11:38.190> those<00:11:39.260> those<00:11:40.260> institutions 00:11:40.970 --> 00:11:40.980 align:start position:0% what gives those those institutions 00:11:40.980 --> 00:11:42.530 align:start position:0% what gives those those institutions authority<00:11:41.520> and<00:11:41.760> what<00:11:41.970> does<00:11:42.090> it<00:11:42.120> mean<00:11:42.210> for<00:11:42.450> them 00:11:42.530 --> 00:11:42.540 align:start position:0% authority and what does it mean for them 00:11:42.540 --> 00:11:45.130 align:start position:0% authority and what does it mean for them to<00:11:42.660> have<00:11:42.810> authority<00:11:42.930> and<00:11:43.350> execute<00:11:43.770> Authority 00:11:45.130 --> 00:11:45.140 align:start position:0% to have authority and execute Authority 00:11:45.140 --> 00:11:47.690 align:start position:0% to have authority and execute Authority that's<00:11:46.140> Francia<00:11:46.530> credibility<00:11:47.040> you<00:11:47.580> know 00:11:47.690 --> 00:11:47.700 align:start position:0% that's Francia credibility you know 00:11:47.700 --> 00:11:49.760 align:start position:0% that's Francia credibility you know they're<00:11:48.540> fairly<00:11:48.870> self-explanatory<00:11:49.110> but 00:11:49.760 --> 00:11:49.770 align:start position:0% they're fairly self-explanatory but 00:11:49.770 --> 00:11:50.960 align:start position:0% they're fairly self-explanatory but accountability<00:11:50.430> is<00:11:50.520> really<00:11:50.790> really 00:11:50.960 --> 00:11:50.970 align:start position:0% accountability is really really 00:11:50.970 --> 00:11:52.460 align:start position:0% accountability is really really essential<00:11:51.420> in<00:11:51.480> governance<00:11:51.870> as<00:11:52.020> well<00:11:52.200> so<00:11:52.440> I 00:11:52.460 --> 00:11:52.470 align:start position:0% essential in governance as well so I 00:11:52.470 --> 00:11:54.200 align:start position:0% essential in governance as well so I would<00:11:52.710> say<00:11:52.860> a<00:11:52.890> property<00:11:53.730> of<00:11:53.820> most<00:11:54.000> good 00:11:54.200 --> 00:11:54.210 align:start position:0% would say a property of most good 00:11:54.210 --> 00:11:55.610 align:start position:0% would say a property of most good governance<00:11:54.570> systems<00:11:54.930> is<00:11:55.080> that<00:11:55.230> they<00:11:55.350> are 00:11:55.610 --> 00:11:55.620 align:start position:0% governance systems is that they are 00:11:55.620 --> 00:11:59.140 align:start position:0% governance systems is that they are accountable<00:11:55.890> and<00:11:56.490> no<00:11:57.530> individual<00:11:58.530> no 00:11:59.140 --> 00:11:59.150 align:start position:0% accountable and no individual no 00:11:59.150 --> 00:12:01.520 align:start position:0% accountable and no individual no governing<00:12:00.150> governmental<00:12:00.720> mechanism<00:12:00.930> or<00:12:01.350> body 00:12:01.520 --> 00:12:01.530 align:start position:0% governing governmental mechanism or body 00:12:01.530 --> 00:12:04.520 align:start position:0% governing governmental mechanism or body is<00:12:01.770> above<00:12:03.170> accountability<00:12:04.170> everyone's 00:12:04.520 --> 00:12:04.530 align:start position:0% is above accountability everyone's 00:12:04.530 --> 00:12:05.660 align:start position:0% is above accountability everyone's accountable<00:12:04.950> is<00:12:05.010> someone<00:12:05.220> else's<00:12:05.460> right 00:12:05.660 --> 00:12:05.670 align:start position:0% accountable is someone else's right 00:12:05.670 --> 00:12:06.800 align:start position:0% accountable is someone else's right that's<00:12:05.910> what<00:12:06.060> the<00:12:06.150> system<00:12:06.420> of<00:12:06.540> checks<00:12:06.720> and 00:12:06.800 --> 00:12:06.810 align:start position:0% that's what the system of checks and 00:12:06.810 --> 00:12:07.440 align:start position:0% that's what the system of checks and balances 00:12:07.440 --> 00:12:07.450 align:start position:0% balances 00:12:07.450 --> 00:12:09.300 align:start position:0% balances that's<00:12:08.080> a<00:12:08.170> very<00:12:08.290> essential<00:12:08.590> characteristic 00:12:09.300 --> 00:12:09.310 align:start position:0% that's a very essential characteristic 00:12:09.310 --> 00:12:11.040 align:start position:0% that's a very essential characteristic so<00:12:09.850> I<00:12:09.910> eventually<00:12:10.060> checks<00:12:10.390> balances<00:12:10.630> right 00:12:11.040 --> 00:12:11.050 align:start position:0% so I eventually checks balances right 00:12:11.050 --> 00:12:12.390 align:start position:0% so I eventually checks balances right kind<00:12:11.380> of<00:12:11.440> different<00:12:11.920> folks<00:12:12.280> different 00:12:12.390 --> 00:12:12.400 align:start position:0% kind of different folks different 00:12:12.400 --> 00:12:14.030 align:start position:0% kind of different folks different mechanism<00:12:13.030> keeping<00:12:13.540> each<00:12:13.660> other<00:12:13.750> in<00:12:13.900> check 00:12:14.030 --> 00:12:14.040 align:start position:0% mechanism keeping each other in check 00:12:14.040 --> 00:12:16.310 align:start position:0% mechanism keeping each other in check balancing<00:12:15.040> power 00:12:16.310 --> 00:12:16.320 align:start position:0% balancing power 00:12:16.320 --> 00:12:18.380 align:start position:0% balancing power stakeholder<00:12:17.320> this<00:12:17.500> is<00:12:17.620> a<00:12:17.650> very<00:12:17.860> controversial 00:12:18.380 --> 00:12:18.390 align:start position:0% stakeholder this is a very controversial 00:12:18.390 --> 00:12:20.340 align:start position:0% stakeholder this is a very controversial contentious<00:12:19.390> kind<00:12:19.600> of<00:12:19.660> question<00:12:20.020> who<00:12:20.200> is<00:12:20.230> a 00:12:20.340 --> 00:12:20.350 align:start position:0% contentious kind of question who is a 00:12:20.350 --> 00:12:22.380 align:start position:0% contentious kind of question who is a stakeholder<00:12:20.620> is<00:12:21.040> it<00:12:21.160> just<00:12:21.370> people<00:12:21.550> who<00:12:21.880> have<00:12:22.360> a 00:12:22.380 --> 00:12:22.390 align:start position:0% stakeholder is it just people who have a 00:12:22.390 --> 00:12:23.820 align:start position:0% stakeholder is it just people who have a seat<00:12:22.630> at<00:12:22.720> the<00:12:22.810> table<00:12:22.990> is<00:12:23.320> that<00:12:23.380> people<00:12:23.650> who<00:12:23.740> are 00:12:23.820 --> 00:12:23.830 align:start position:0% seat at the table is that people who are 00:12:23.830 --> 00:12:25.830 align:start position:0% seat at the table is that people who are directly<00:12:24.010> impacted<00:12:24.910> by<00:12:25.060> governances<00:12:25.690> at 00:12:25.830 --> 00:12:25.840 align:start position:0% directly impacted by governances at 00:12:25.840 --> 00:12:27.480 align:start position:0% directly impacted by governances at people<00:12:26.080> who<00:12:26.140> are<00:12:26.200> indirectly<00:12:26.740> impacted<00:12:27.340> by 00:12:27.480 --> 00:12:27.490 align:start position:0% people who are indirectly impacted by 00:12:27.490 --> 00:12:29.310 align:start position:0% people who are indirectly impacted by governance<00:12:27.910> again<00:12:28.660> in<00:12:28.810> the<00:12:28.870> context<00:12:29.290> of 00:12:29.310 --> 00:12:29.320 align:start position:0% governance again in the context of 00:12:29.320 --> 00:12:32.160 align:start position:0% governance again in the context of aetherium<00:12:30.030> glads<00:12:31.030> happier<00:12:31.420> I'm<00:12:31.600> sure<00:12:31.840> many<00:12:32.020> of 00:12:32.160 --> 00:12:32.170 align:start position:0% aetherium glads happier I'm sure many of 00:12:32.170 --> 00:12:33.690 align:start position:0% aetherium glads happier I'm sure many of you<00:12:32.290> are<00:12:32.380> familiar<00:12:32.470> with<00:12:32.890> because<00:12:33.070> you<00:12:33.580> know<00:12:33.670> a 00:12:33.690 --> 00:12:33.700 align:start position:0% you are familiar with because you know a 00:12:33.700 --> 00:12:35.910 align:start position:0% you are familiar with because you know a lot<00:12:33.820> to<00:12:34.090> say<00:12:34.240> on<00:12:34.270> this<00:12:34.420> topic<00:12:34.500> has<00:12:35.500> suggested 00:12:35.910 --> 00:12:35.920 align:start position:0% lot to say on this topic has suggested 00:12:35.920 --> 00:12:37.800 align:start position:0% lot to say on this topic has suggested that<00:12:35.980> sort<00:12:36.250> of<00:12:36.280> all<00:12:36.730> human<00:12:37.240> beings<00:12:37.510> you<00:12:37.780> know 00:12:37.800 --> 00:12:37.810 align:start position:0% that sort of all human beings you know 00:12:37.810 --> 00:12:39.750 align:start position:0% that sort of all human beings you know alive<00:12:38.230> today<00:12:38.470> and<00:12:38.860> any<00:12:39.130> point<00:12:39.430> in<00:12:39.520> the<00:12:39.610> future 00:12:39.750 --> 00:12:39.760 align:start position:0% alive today and any point in the future 00:12:39.760 --> 00:12:42.030 align:start position:0% alive today and any point in the future potentially<00:12:40.630> stakeholders<00:12:41.170> in<00:12:41.470> theory<00:12:41.920> on 00:12:42.030 --> 00:12:42.040 align:start position:0% potentially stakeholders in theory on 00:12:42.040 --> 00:12:43.800 align:start position:0% potentially stakeholders in theory on governance<00:12:42.430> because<00:12:43.030> you<00:12:43.270> know<00:12:43.360> to<00:12:43.690> the 00:12:43.800 --> 00:12:43.810 align:start position:0% governance because you know to the 00:12:43.810 --> 00:12:45.210 align:start position:0% governance because you know to the extent<00:12:43.840> that<00:12:44.140> in<00:12:44.290> theory<00:12:44.410> abhi<00:12:44.650> comes<00:12:44.890> a 00:12:45.210 --> 00:12:45.220 align:start position:0% extent that in theory abhi comes a 00:12:45.220 --> 00:12:48.270 align:start position:0% extent that in theory abhi comes a network<00:12:45.670> that<00:12:45.940> you<00:12:46.360> know<00:12:46.980> governments<00:12:47.980> are 00:12:48.270 --> 00:12:48.280 align:start position:0% network that you know governments are 00:12:48.280 --> 00:12:50.040 align:start position:0% network that you know governments are built<00:12:48.520> on<00:12:48.730> or<00:12:49.000> that's<00:12:49.120> used<00:12:49.330> to<00:12:49.510> govern<00:12:49.810> things 00:12:50.040 --> 00:12:50.050 align:start position:0% built on or that's used to govern things 00:12:50.050 --> 00:12:51.720 align:start position:0% built on or that's used to govern things off<00:12:50.260> the<00:12:50.440> block<00:12:50.590> Tanner<00:12:50.890> that<00:12:51.130> money<00:12:51.310> is<00:12:51.490> built 00:12:51.720 --> 00:12:51.730 align:start position:0% off the block Tanner that money is built 00:12:51.730 --> 00:12:54.510 align:start position:0% off the block Tanner that money is built on<00:12:52.140> it's<00:12:53.140> a<00:12:53.200> very<00:12:53.380> expansive<00:12:53.770> definition<00:12:54.070> of 00:12:54.510 --> 00:12:54.520 align:start position:0% on it's a very expansive definition of 00:12:54.520 --> 00:12:55.710 align:start position:0% on it's a very expansive definition of stakeholder<00:12:54.970> and<00:12:55.060> some<00:12:55.180> people<00:12:55.390> have<00:12:55.510> a<00:12:55.540> much 00:12:55.710 --> 00:12:55.720 align:start position:0% stakeholder and some people have a much 00:12:55.720 --> 00:12:58.140 align:start position:0% stakeholder and some people have a much more<00:12:55.870> narrow<00:12:56.080> definition<00:12:56.730> this<00:12:57.730> concept<00:12:58.120> of 00:12:58.140 --> 00:12:58.150 align:start position:0% more narrow definition this concept of 00:12:58.150 --> 00:13:00.000 align:start position:0% more narrow definition this concept of on<00:12:58.390> and<00:12:58.600> off<00:12:58.660> chain<00:12:58.930> governance<00:12:59.350> so<00:12:59.620> very<00:12:59.860> very 00:13:00.000 --> 00:13:00.010 align:start position:0% on and off chain governance so very very 00:13:00.010 --> 00:13:02.580 align:start position:0% on and off chain governance so very very briefly<00:13:00.310> on<00:13:00.580> chained<00:13:00.880> governance<00:13:01.360> means<00:13:01.630> when 00:13:02.580 --> 00:13:02.590 align:start position:0% briefly on chained governance means when 00:13:02.590 --> 00:13:06.090 align:start position:0% briefly on chained governance means when we<00:13:02.770> we<00:13:03.040> make<00:13:03.190> decisions<00:13:03.960> in<00:13:04.960> you<00:13:05.710> know<00:13:05.800> through 00:13:06.090 --> 00:13:06.100 align:start position:0% we we make decisions in you know through 00:13:06.100 --> 00:13:08.160 align:start position:0% we we make decisions in you know through the<00:13:06.190> protocol<00:13:06.550> and<00:13:07.120> they're<00:13:07.270> implemented<00:13:07.960> or 00:13:08.160 --> 00:13:08.170 align:start position:0% the protocol and they're implemented or 00:13:08.170 --> 00:13:10.560 align:start position:0% the protocol and they're implemented or enacted<00:13:08.590> long<00:13:08.920> chain<00:13:09.190> this<00:13:10.000> purpose<00:13:10.330> takes 00:13:10.560 --> 00:13:10.570 align:start position:0% enacted long chain this purpose takes 00:13:10.570 --> 00:13:12.420 align:start position:0% enacted long chain this purpose takes different<00:13:10.750> forms<00:13:10.930> like<00:13:11.260> coin<00:13:11.560> voting<00:13:11.890> tezo's 00:13:12.420 --> 00:13:12.430 align:start position:0% different forms like coin voting tezo's 00:13:12.430 --> 00:13:14.790 align:start position:0% different forms like coin voting tezo's their<00:13:12.670> area<00:13:13.110> maximal<00:13:14.110> version<00:13:14.380> of<00:13:14.470> this<00:13:14.560> and 00:13:14.790 --> 00:13:14.800 align:start position:0% their area maximal version of this and 00:13:14.800 --> 00:13:16.620 align:start position:0% their area maximal version of this and Carol<00:13:15.040> are<00:13:15.100> baptize<00:13:15.400> us<00:13:15.430> today<00:13:15.820> off-tank 00:13:16.620 --> 00:13:16.630 align:start position:0% Carol are baptize us today off-tank 00:13:16.630 --> 00:13:18.120 align:start position:0% Carol are baptize us today off-tank governance<00:13:17.020> is<00:13:17.260> the<00:13:17.380> old-fashioned<00:13:17.860> type<00:13:17.890> of 00:13:18.120 --> 00:13:18.130 align:start position:0% governance is the old-fashioned type of 00:13:18.130 --> 00:13:20.040 align:start position:0% governance is the old-fashioned type of governance<00:13:18.460> with<00:13:18.700> with<00:13:19.150> meatspace<00:13:19.720> you<00:13:19.930> know 00:13:20.040 --> 00:13:20.050 align:start position:0% governance with with meatspace you know 00:13:20.050 --> 00:13:21.990 align:start position:0% governance with with meatspace you know people<00:13:20.410> have<00:13:20.830> been<00:13:20.860> conversations<00:13:21.490> online<00:13:21.640> or 00:13:21.990 --> 00:13:22.000 align:start position:0% people have been conversations online or 00:13:22.000 --> 00:13:22.440 align:start position:0% people have been conversations online or in<00:13:22.060> person 00:13:22.440 --> 00:13:22.450 align:start position:0% in person 00:13:22.450 --> 00:13:25.590 align:start position:0% in person this<00:13:23.290> is<00:13:23.440> tightly<00:13:24.090> closely<00:13:25.090> related<00:13:25.360> to<00:13:25.480> a 00:13:25.590 --> 00:13:25.600 align:start position:0% this is tightly closely related to a 00:13:25.600 --> 00:13:27.150 align:start position:0% this is tightly closely related to a concept<00:13:26.290> called<00:13:26.440> tightly<00:13:26.800> coupled<00:13:26.950> or 00:13:27.150 --> 00:13:27.160 align:start position:0% concept called tightly coupled or 00:13:27.160 --> 00:13:28.680 align:start position:0% concept called tightly coupled or loosely<00:13:27.460> coupled<00:13:27.790> which<00:13:27.940> is<00:13:28.060> also<00:13:28.360> related<00:13:28.540> to 00:13:28.680 --> 00:13:28.690 align:start position:0% loosely coupled which is also related to 00:13:28.690 --> 00:13:29.600 align:start position:0% loosely coupled which is also related to binding<00:13:28.990> force<00:13:29.170> it's<00:13:29.260> non-binding 00:13:29.600 --> 00:13:29.610 align:start position:0% binding force it's non-binding 00:13:29.610 --> 00:13:31.770 align:start position:0% binding force it's non-binding governance<00:13:30.670> Vitalik<00:13:31.240> that's<00:13:31.360> a<00:13:31.420> good<00:13:31.570> article 00:13:31.770 --> 00:13:31.780 align:start position:0% governance Vitalik that's a good article 00:13:31.780 --> 00:13:33.540 align:start position:0% governance Vitalik that's a good article on<00:13:32.200> a<00:13:32.230> lot<00:13:32.410> of<00:13:32.500> this<00:13:32.590> stuff<00:13:32.800> but<00:13:33.130> again<00:13:33.400> just 00:13:33.540 --> 00:13:33.550 align:start position:0% on a lot of this stuff but again just 00:13:33.550 --> 00:13:35.220 align:start position:0% on a lot of this stuff but again just this<00:13:33.730> question<00:13:34.270> of<00:13:34.360> like<00:13:34.540> when<00:13:35.020> we<00:13:35.110> make 00:13:35.220 --> 00:13:35.230 align:start position:0% this question of like when we make 00:13:35.230 --> 00:13:38.070 align:start position:0% this question of like when we make decisions<00:13:35.650> today<00:13:36.300> take<00:13:37.300> effect<00:13:37.870> immediately 00:13:38.070 --> 00:13:38.080 align:start position:0% decisions today take effect immediately 00:13:38.080 --> 00:13:40.020 align:start position:0% decisions today take effect immediately or<00:13:38.710> is<00:13:38.800> there<00:13:38.950> some<00:13:39.100> interpretation<00:13:39.820> layer 00:13:40.020 --> 00:13:40.030 align:start position:0% or is there some interpretation layer 00:13:40.030 --> 00:13:43.620 align:start position:0% or is there some interpretation layer around<00:13:40.630> those<00:13:40.900> decisions<00:13:42.150> we<00:13:43.150> have<00:13:43.270> signaling 00:13:43.620 --> 00:13:43.630 align:start position:0% around those decisions we have signaling 00:13:43.630 --> 00:13:44.790 align:start position:0% around those decisions we have signaling and<00:13:43.750> voting<00:13:43.990> rights<00:13:44.170> of<00:13:44.290> signaling<00:13:44.710> is 00:13:44.790 --> 00:13:44.800 align:start position:0% and voting rights of signaling is 00:13:44.800 --> 00:13:46.530 align:start position:0% and voting rights of signaling is generally<00:13:45.160> regarded<00:13:45.340> as<00:13:45.640> non-binding<00:13:46.240> it's 00:13:46.530 --> 00:13:46.540 align:start position:0% generally regarded as non-binding it's 00:13:46.540 --> 00:13:48.510 align:start position:0% generally regarded as non-binding it's just<00:13:46.750> a<00:13:46.870> signal<00:13:47.500> input<00:13:47.980> into<00:13:48.250> another 00:13:48.510 --> 00:13:48.520 align:start position:0% just a signal input into another 00:13:48.520 --> 00:13:50.420 align:start position:0% just a signal input into another governance<00:13:48.940> mechanism<00:13:49.420> versus<00:13:49.750> voting<00:13:50.140> which 00:13:50.420 --> 00:13:50.430 align:start position:0% governance mechanism versus voting which 00:13:50.430 --> 00:13:53.520 align:start position:0% governance mechanism versus voting which should<00:13:51.430> be<00:13:51.640> binding<00:13:52.030> I<00:13:52.240> think<00:13:52.690> if<00:13:53.140> you<00:13:53.230> look<00:13:53.410> at 00:13:53.520 --> 00:13:53.530 align:start position:0% should be binding I think if you look at 00:13:53.530 --> 00:13:55.230 align:start position:0% should be binding I think if you look at like<00:13:53.890> what's<00:13:54.070> happening<00:13:54.370> with<00:13:54.490> brexit<00:13:54.910> today 00:13:55.230 --> 00:13:55.240 align:start position:0% like what's happening with brexit today 00:13:55.240 --> 00:13:56.640 align:start position:0% like what's happening with brexit today it's<00:13:55.480> a<00:13:55.570> very<00:13:55.750> interesting<00:13:55.960> question<00:13:56.230> there 00:13:56.640 --> 00:13:56.650 align:start position:0% it's a very interesting question there 00:13:56.650 --> 00:13:58.590 align:start position:0% it's a very interesting question there was<00:13:56.710> a<00:13:56.770> vote<00:13:57.010> you<00:13:57.640> know<00:13:57.760> and<00:13:58.000> there<00:13:58.450> was<00:13:58.480> a 00:13:58.590 --> 00:13:58.600 align:start position:0% was a vote you know and there was a 00:13:58.600 --> 00:14:01.500 align:start position:0% was a vote you know and there was a single<00:13:58.900> vote<00:13:59.110> and<00:13:59.640> you<00:14:00.640> know<00:14:00.760> is<00:14:01.060> it<00:14:01.270> the<00:14:01.360> case 00:14:01.500 --> 00:14:01.510 align:start position:0% single vote and you know is it the case 00:14:01.510 --> 00:14:03.810 align:start position:0% single vote and you know is it the case that<00:14:01.570> the<00:14:02.170> government<00:14:02.290> and<00:14:02.800> the<00:14:02.860> entire<00:14:03.460> all 00:14:03.810 --> 00:14:03.820 align:start position:0% that the government and the entire all 00:14:03.820 --> 00:14:05.160 align:start position:0% that the government and the entire all the<00:14:03.970> citizens<00:14:04.360> of<00:14:04.450> the<00:14:04.570> United<00:14:04.840> Kingdom 00:14:05.160 --> 00:14:05.170 align:start position:0% the citizens of the United Kingdom 00:14:05.170 --> 00:14:07.860 align:start position:0% the citizens of the United Kingdom should<00:14:05.320> be<00:14:05.440> bound<00:14:05.680> by<00:14:06.370> that<00:14:06.580> vote<00:14:06.790> or<00:14:07.720> should 00:14:07.860 --> 00:14:07.870 align:start position:0% should be bound by that vote or should 00:14:07.870 --> 00:14:09.120 align:start position:0% should be bound by that vote or should there<00:14:07.960> be<00:14:08.020> another<00:14:08.110> girl<00:14:08.410> friends 00:14:09.120 --> 00:14:09.130 align:start position:0% there be another girl friends 00:14:09.130 --> 00:14:13.110 align:start position:0% there be another girl friends finding<00:14:10.020> formal<00:14:11.020> informal<00:14:11.230> governance<00:14:12.120> we 00:14:13.110 --> 00:14:13.120 align:start position:0% finding formal informal governance we 00:14:13.120 --> 00:14:14.610 align:start position:0% finding formal informal governance we have<00:14:13.240> a<00:14:13.270> lot<00:14:13.450> of<00:14:13.480> informal<00:14:13.990> governance<00:14:14.380> in 00:14:14.610 --> 00:14:14.620 align:start position:0% have a lot of informal governance in 00:14:14.620 --> 00:14:16.580 align:start position:0% have a lot of informal governance in networks<00:14:15.040> like<00:14:15.190> aetherium<00:14:15.460> Bitcoin<00:14:16.060> today 00:14:16.580 --> 00:14:16.590 align:start position:0% networks like aetherium Bitcoin today 00:14:16.590 --> 00:14:21.120 align:start position:0% networks like aetherium Bitcoin today where<00:14:17.590> decisions<00:14:17.980> get<00:14:18.160> made<00:14:19.260> in<00:14:20.260> some<00:14:20.650> kind<00:14:20.980> of 00:14:21.120 --> 00:14:21.130 align:start position:0% where decisions get made in some kind of 00:14:21.130 --> 00:14:23.040 align:start position:0% where decisions get made in some kind of complex<00:14:21.760> ways<00:14:22.240> that<00:14:22.510> aren't<00:14:22.630> super<00:14:22.780> well 00:14:23.040 --> 00:14:23.050 align:start position:0% complex ways that aren't super well 00:14:23.050 --> 00:14:25.080 align:start position:0% complex ways that aren't super well documented<00:14:23.380> and<00:14:23.770> understood<00:14:24.160> versus<00:14:24.940> more 00:14:25.080 --> 00:14:25.090 align:start position:0% documented and understood versus more 00:14:25.090 --> 00:14:26.580 align:start position:0% documented and understood versus more formal<00:14:25.450> systems<00:14:25.810> where<00:14:25.990> we<00:14:26.020> have<00:14:26.260> you<00:14:26.500> know 00:14:26.580 --> 00:14:26.590 align:start position:0% formal systems where we have you know 00:14:26.590 --> 00:14:28.380 align:start position:0% formal systems where we have you know legislative<00:14:27.190> bodies<00:14:27.490> and<00:14:27.760> election 00:14:28.380 --> 00:14:28.390 align:start position:0% legislative bodies and election 00:14:28.390 --> 00:14:30.660 align:start position:0% legislative bodies and election processes<00:14:29.100> you'll<00:14:30.100> probably<00:14:30.250> hear<00:14:30.460> a<00:14:30.520> lot 00:14:30.660 --> 00:14:30.670 align:start position:0% processes you'll probably hear a lot 00:14:30.670 --> 00:14:32.040 align:start position:0% processes you'll probably hear a lot today<00:14:30.850> about<00:14:30.910> different<00:14:31.210> types<00:14:31.510> of<00:14:31.630> forks<00:14:31.840> are 00:14:32.040 --> 00:14:32.050 align:start position:0% today about different types of forks are 00:14:32.050 --> 00:14:33.030 align:start position:0% today about different types of forks are for<00:14:32.290> softworks 00:14:33.030 --> 00:14:33.040 align:start position:0% for softworks 00:14:33.040 --> 00:14:34.620 align:start position:0% for softworks they<00:14:33.760> can<00:14:33.910> be<00:14:34.000> contentious<00:14:34.360> or<00:14:34.450> money 00:14:34.620 --> 00:14:34.630 align:start position:0% they can be contentious or money 00:14:34.630 --> 00:14:36.360 align:start position:0% they can be contentious or money contentious<00:14:35.140> we<00:14:35.290> have<00:14:35.440> this<00:14:35.680> concept<00:14:36.070> of<00:14:36.190> like 00:14:36.360 --> 00:14:36.370 align:start position:0% contentious we have this concept of like 00:14:36.370 --> 00:14:38.670 align:start position:0% contentious we have this concept of like user<00:14:36.640> activated<00:14:37.180> software<00:14:37.330> Bitcoin<00:14:38.110> I 00:14:38.670 --> 00:14:38.680 align:start position:0% user activated software Bitcoin I 00:14:38.680 --> 00:14:40.860 align:start position:0% user activated software Bitcoin I finally<00:14:39.310> an<00:14:39.790> idea<00:14:40.120> I<00:14:40.180> really<00:14:40.390> really<00:14:40.690> like 00:14:40.860 --> 00:14:40.870 align:start position:0% finally an idea I really really like 00:14:40.870 --> 00:14:42.660 align:start position:0% finally an idea I really really like which<00:14:41.050> is<00:14:41.170> wet<00:14:41.350> coded<00:14:41.680> dry<00:14:41.860> code<00:14:42.100> this<00:14:42.430> is<00:14:42.580> an 00:14:42.660 --> 00:14:42.670 align:start position:0% which is wet coded dry code this is an 00:14:42.670 --> 00:14:45.390 align:start position:0% which is wet coded dry code this is an idea<00:14:42.970> that<00:14:43.030> comes<00:14:43.330> from<00:14:43.630> Nick<00:14:43.750> Szabo<00:14:44.130> who<00:14:45.130> is<00:14:45.370> a 00:14:45.390 --> 00:14:45.400 align:start position:0% idea that comes from Nick Szabo who is a 00:14:45.400 --> 00:14:47.240 align:start position:0% idea that comes from Nick Szabo who is a legal<00:14:45.880> scholar<00:14:46.000> and<00:14:46.300> a<00:14:46.330> computer<00:14:46.630> scientist 00:14:47.240 --> 00:14:47.250 align:start position:0% legal scholar and a computer scientist 00:14:47.250 --> 00:14:49.590 align:start position:0% legal scholar and a computer scientist he's<00:14:48.250> the<00:14:48.550> person<00:14:48.760> who<00:14:48.970> invented<00:14:49.180> the<00:14:49.390> concept 00:14:49.590 --> 00:14:49.600 align:start position:0% he's the person who invented the concept 00:14:49.600 --> 00:14:53.970 align:start position:0% he's the person who invented the concept of<00:14:49.870> a<00:14:49.960> smart<00:14:50.200> contract<00:14:50.380> as<00:14:50.770> well<00:14:51.180> and<00:14:52.980> proposed 00:14:53.970 --> 00:14:53.980 align:start position:0% of a smart contract as well and proposed 00:14:53.980 --> 00:14:55.980 align:start position:0% of a smart contract as well and proposed this<00:14:54.130> idea<00:14:54.340> right<00:14:54.700> when<00:14:54.940> code<00:14:55.210> is<00:14:55.420> code<00:14:55.750> that 00:14:55.980 --> 00:14:55.990 align:start position:0% this idea right when code is code that 00:14:55.990 --> 00:14:58.980 align:start position:0% this idea right when code is code that is<00:14:56.140> interpreted<00:14:56.800> by<00:14:56.830> human<00:14:57.580> brain<00:14:57.820> right<00:14:58.810> so 00:14:58.980 --> 00:14:58.990 align:start position:0% is interpreted by human brain right so 00:14:58.990 --> 00:15:00.480 align:start position:0% is interpreted by human brain right so that's<00:14:59.170> like<00:14:59.350> legal<00:14:59.770> code<00:14:59.980> in<00:15:00.250> that 00:15:00.480 --> 00:15:00.490 align:start position:0% that's like legal code in that 00:15:00.490 --> 00:15:02.790 align:start position:0% that's like legal code in that perspective<00:15:01.420> the<00:15:01.510> word<00:15:01.660> dry<00:15:02.290> code<00:15:02.560> on<00:15:02.710> the 00:15:02.790 --> 00:15:02.800 align:start position:0% perspective the word dry code on the 00:15:02.800 --> 00:15:04.260 align:start position:0% perspective the word dry code on the other<00:15:02.920> hand<00:15:03.130> is<00:15:03.280> code<00:15:03.490> that's<00:15:03.730> determined<00:15:04.150> by 00:15:04.260 --> 00:15:04.270 align:start position:0% other hand is code that's determined by 00:15:04.270 --> 00:15:05.730 align:start position:0% other hand is code that's determined by machines<00:15:04.630> and<00:15:04.900> so<00:15:05.440> there's<00:15:05.590> this<00:15:05.680> very 00:15:05.730 --> 00:15:05.740 align:start position:0% machines and so there's this very 00:15:05.740 --> 00:15:07.560 align:start position:0% machines and so there's this very interesting<00:15:05.980> balance<00:15:06.700> here<00:15:07.000> between<00:15:07.300> these 00:15:07.560 --> 00:15:07.570 align:start position:0% interesting balance here between these 00:15:07.570 --> 00:15:09.330 align:start position:0% interesting balance here between these two<00:15:07.660> different<00:15:07.780> and<00:15:08.080> how<00:15:08.650> they<00:15:08.770> interact<00:15:09.160> in 00:15:09.330 --> 00:15:09.340 align:start position:0% two different and how they interact in 00:15:09.340 --> 00:15:11.070 align:start position:0% two different and how they interact in the<00:15:09.400> context<00:15:09.790> of<00:15:09.850> blocked<00:15:10.060> hands<00:15:10.270> which<00:15:10.510> we 00:15:11.070 --> 00:15:11.080 align:start position:0% the context of blocked hands which we 00:15:11.080 --> 00:15:12.330 align:start position:0% the context of blocked hands which we could<00:15:11.200> talk<00:15:11.320> about<00:15:11.440> for<00:15:11.620> hours<00:15:11.680> that's<00:15:12.130> super 00:15:12.330 --> 00:15:12.340 align:start position:0% could talk about for hours that's super 00:15:12.340 --> 00:15:15.840 align:start position:0% could talk about for hours that's super interesting<00:15:14.370> strings<00:15:15.370> he's<00:15:15.490> gonna<00:15:15.580> come<00:15:15.790> up 00:15:15.840 --> 00:15:15.850 align:start position:0% interesting strings he's gonna come up 00:15:15.850 --> 00:15:18.440 align:start position:0% interesting strings he's gonna come up and<00:15:16.000> join<00:15:16.150> us<00:15:16.330> a<00:15:16.360> chair<00:15:16.690> a<00:15:16.960> bit<00:15:17.200> on<00:15:17.440> her<00:15:17.980> work<00:15:18.190> on 00:15:18.440 --> 00:15:18.450 align:start position:0% and join us a chair a bit on her work on 00:15:18.450 --> 00:15:20.220 align:start position:0% and join us a chair a bit on her work on system<00:15:19.450> it<00:15:19.570> governance<00:15:19.900> is<00:15:20.020> super 00:15:20.220 --> 00:15:20.230 align:start position:0% system it governance is super 00:15:20.230 --> 00:15:21.660 align:start position:0% system it governance is super interesting<00:15:20.410> an<00:15:20.680> important<00:15:20.980> topic<00:15:21.130> it<00:15:21.490> reduce 00:15:21.660 --> 00:15:21.670 align:start position:0% interesting an important topic it reduce 00:15:21.670 --> 00:15:26.000 align:start position:0% interesting an important topic it reduce your<00:15:21.760> self<00:15:21.970> as<00:15:22.060> well<00:15:22.210> I<00:15:22.680> mean<00:15:23.940> everybody<00:15:24.940> who<00:15:25.270> I 00:15:26.000 --> 00:15:26.010 align:start position:0% your self as well I mean everybody who I 00:15:26.010 --> 00:15:28.890 align:start position:0% your self as well I mean everybody who I am<00:15:27.010> you<00:15:27.160> sure<00:15:27.340> the<00:15:27.490> oh<00:15:27.520> yeah<00:15:27.820> I'm<00:15:28.090> a<00:15:28.120> crypto 00:15:28.890 --> 00:15:28.900 align:start position:0% am you sure the oh yeah I'm a crypto 00:15:28.900 --> 00:15:32.130 align:start position:0% am you sure the oh yeah I'm a crypto economic<00:15:29.380> conference<00:15:29.710> researcher<00:15:30.310> and<00:15:31.140> III 00:15:32.130 --> 00:15:32.140 align:start position:0% economic conference researcher and III 00:15:32.140 --> 00:15:35.130 align:start position:0% economic conference researcher and III bring<00:15:32.620> to<00:15:32.950> this<00:15:33.790> space<00:15:34.090> of<00:15:34.360> blockchain<00:15:34.870> all 00:15:35.130 --> 00:15:35.140 align:start position:0% bring to this space of blockchain all 00:15:35.140 --> 00:15:39.010 align:start position:0% bring to this space of blockchain all the<00:15:35.320> concepts<00:15:35.740> that<00:15:35.830> I<00:15:37.110> thought<00:15:38.110> about<00:15:38.320> in 00:15:39.010 --> 00:15:39.020 align:start position:0% the concepts that I thought about in 00:15:39.020 --> 00:15:40.630 align:start position:0% the concepts that I thought about in the<00:15:39.110> field<00:15:39.290> of<00:15:39.440> complex<00:15:39.710> systems<00:15:40.160> so<00:15:40.550> I'm 00:15:40.630 --> 00:15:40.640 align:start position:0% the field of complex systems so I'm 00:15:40.640 --> 00:15:42.310 align:start position:0% the field of complex systems so I'm going<00:15:40.820> to<00:15:40.850> talk<00:15:41.030> about<00:15:41.140> governance<00:15:42.140> as<00:15:42.290> a 00:15:42.310 --> 00:15:42.320 align:start position:0% going to talk about governance as a 00:15:42.320 --> 00:15:44.020 align:start position:0% going to talk about governance as a means<00:15:42.530> of<00:15:42.710> coordinating<00:15:43.250> multiple<00:15:43.340> agents 00:15:44.020 --> 00:15:44.030 align:start position:0% means of coordinating multiple agents 00:15:44.030 --> 00:15:46.600 align:start position:0% means of coordinating multiple agents within<00:15:44.630> a<00:15:44.780> system<00:15:44.960> and<00:15:45.440> that<00:15:46.250> there's<00:15:46.460> this 00:15:46.600 --> 00:15:46.610 align:start position:0% within a system and that there's this 00:15:46.610 --> 00:15:48.580 align:start position:0% within a system and that there's this concept<00:15:46.970> of<00:15:47.150> guided<00:15:47.630> self<00:15:47.840> organization 00:15:48.580 --> 00:15:48.590 align:start position:0% concept of guided self organization 00:15:48.590 --> 00:15:51.850 align:start position:0% concept of guided self organization which<00:15:49.160> is<00:15:49.340> basically<00:15:49.790> when<00:15:50.570> you<00:15:50.810> allow<00:15:51.140> agents 00:15:51.850 --> 00:15:51.860 align:start position:0% which is basically when you allow agents 00:15:51.860 --> 00:15:54.040 align:start position:0% which is basically when you allow agents to<00:15:52.100> evolve<00:15:52.370> by<00:15:52.580> themselves<00:15:53.120> and<00:15:53.240> to<00:15:53.630> govern<00:15:53.900> by 00:15:54.040 --> 00:15:54.050 align:start position:0% to evolve by themselves and to govern by 00:15:54.050 --> 00:15:56.020 align:start position:0% to evolve by themselves and to govern by themselves<00:15:54.590> but<00:15:54.980> you<00:15:55.130> guided<00:15:55.520> a<00:15:55.670> little<00:15:55.910> bit 00:15:56.020 --> 00:15:56.030 align:start position:0% themselves but you guided a little bit 00:15:56.030 --> 00:15:58.030 align:start position:0% themselves but you guided a little bit so<00:15:56.210> that<00:15:56.360> that<00:15:56.690> said<00:15:57.080> that<00:15:57.200> the<00:15:57.290> gun<00:15:57.470> to<00:15:57.800> them 00:15:58.030 --> 00:15:58.040 align:start position:0% so that that said that the gun to them 00:15:58.040 --> 00:16:00.310 align:start position:0% so that that said that the gun to them so<00:15:58.640> that<00:15:58.670> they<00:15:58.880> end<00:15:59.060> up<00:15:59.300> in<00:15:59.510> a<00:15:59.630> desirable<00:16:00.170> state 00:16:00.310 --> 00:16:00.320 align:start position:0% so that they end up in a desirable state 00:16:00.320 --> 00:16:02.710 align:start position:0% so that they end up in a desirable state and<00:16:00.740> easier<00:16:01.370> manner<00:16:01.580> there<00:16:02.150> are<00:16:02.180> several<00:16:02.480> ways 00:16:02.710 --> 00:16:02.720 align:start position:0% and easier manner there are several ways 00:16:02.720 --> 00:16:04.120 align:start position:0% and easier manner there are several ways in<00:16:02.960> which<00:16:03.050> you<00:16:03.200> can<00:16:03.350> actually<00:16:03.500> guide<00:16:03.890> these 00:16:04.120 --> 00:16:04.130 align:start position:0% in which you can actually guide these 00:16:04.130 --> 00:16:07.600 align:start position:0% in which you can actually guide these agents<00:16:04.610> so<00:16:05.350> the<00:16:06.350> first<00:16:06.590> way<00:16:06.800> is<00:16:07.070> just<00:16:07.100> to 00:16:07.600 --> 00:16:07.610 align:start position:0% agents so the first way is just to 00:16:07.610 --> 00:16:09.880 align:start position:0% agents so the first way is just to interrupts<00:16:08.360> and<00:16:08.630> then<00:16:09.320> the<00:16:09.470> second<00:16:09.710> way<00:16:09.860> is 00:16:09.880 --> 00:16:09.890 align:start position:0% interrupts and then the second way is 00:16:09.890 --> 00:16:11.560 align:start position:0% interrupts and then the second way is through<00:16:10.280> the<00:16:10.430> design<00:16:10.760> of<00:16:10.910> the<00:16:11.030> dynamics<00:16:11.510> of 00:16:11.560 --> 00:16:11.570 align:start position:0% through the design of the dynamics of 00:16:11.570 --> 00:16:13.270 align:start position:0% through the design of the dynamics of the<00:16:11.630> system<00:16:11.870> itself<00:16:12.290> solely<00:16:12.620> by<00:16:12.860> implementing 00:16:13.270 --> 00:16:13.280 align:start position:0% the system itself solely by implementing 00:16:13.280 --> 00:16:15.850 align:start position:0% the system itself solely by implementing some<00:16:13.430> sort<00:16:13.850> of<00:16:13.970> systemic<00:16:14.630> control<00:16:15.170> and<00:16:15.440> then 00:16:15.850 --> 00:16:15.860 align:start position:0% some sort of systemic control and then 00:16:15.860 --> 00:16:18.370 align:start position:0% some sort of systemic control and then the<00:16:15.890> third<00:16:16.190> way<00:16:16.400> is<00:16:16.730> by<00:16:17.180> constraining<00:16:18.140> the 00:16:18.370 --> 00:16:18.380 align:start position:0% the third way is by constraining the 00:16:18.380 --> 00:16:19.960 align:start position:0% the third way is by constraining the structure<00:16:18.860> of<00:16:18.980> the<00:16:19.130> entire<00:16:19.190> governance 00:16:19.960 --> 00:16:19.970 align:start position:0% structure of the entire governance 00:16:19.970 --> 00:16:22.390 align:start position:0% structure of the entire governance system<00:16:20.300> so<00:16:20.870> I'm<00:16:21.230> going<00:16:21.440> to<00:16:21.530> kind<00:16:22.280> of 00:16:22.390 --> 00:16:22.400 align:start position:0% system so I'm going to kind of 00:16:22.400 --> 00:16:24.310 align:start position:0% system so I'm going to kind of mathematically<00:16:23.060> characterize<00:16:23.660> this<00:16:23.930> so<00:16:24.080> that 00:16:24.310 --> 00:16:24.320 align:start position:0% mathematically characterize this so that 00:16:24.320 --> 00:16:27.100 align:start position:0% mathematically characterize this so that it<00:16:24.470> will<00:16:24.590> be<00:16:24.710> easier<00:16:25.040> for<00:16:25.070> you<00:16:25.280> to<00:16:25.370> grasp<00:16:26.110> okay 00:16:27.100 --> 00:16:27.110 align:start position:0% it will be easier for you to grasp okay 00:16:27.110 --> 00:16:31.930 align:start position:0% it will be easier for you to grasp okay go<00:16:27.550> alright<00:16:28.550> so<00:16:28.790> it<00:16:29.240> just<00:16:29.950> blasts<00:16:30.980> who<00:16:31.670> here 00:16:31.930 --> 00:16:31.940 align:start position:0% go alright so it just blasts who here 00:16:31.940 --> 00:16:40.570 align:start position:0% go alright so it just blasts who here has<00:16:31.970> played<00:16:32.480> with<00:16:36.160> board<00:16:37.160> Reno's<00:16:38.260> Chopin<00:16:39.580> okay 00:16:40.570 --> 00:16:40.580 align:start position:0% has played with board Reno's Chopin okay 00:16:40.580 --> 00:16:42.220 align:start position:0% has played with board Reno's Chopin okay closer<00:16:40.820> than<00:16:41.090> you<00:16:41.210> might<00:16:41.690> be<00:16:41.810> familiar<00:16:41.960> with 00:16:42.220 --> 00:16:42.230 align:start position:0% closer than you might be familiar with 00:16:42.230 --> 00:16:43.810 align:start position:0% closer than you might be familiar with interrupts<00:16:42.650> it's<00:16:42.830> basically<00:16:43.220> this<00:16:43.430> piece<00:16:43.640> of 00:16:43.810 --> 00:16:43.820 align:start position:0% interrupts it's basically this piece of 00:16:43.820 --> 00:16:45.520 align:start position:0% interrupts it's basically this piece of code<00:16:44.120> that<00:16:44.150> whenever<00:16:44.630> something<00:16:44.960> goes<00:16:45.230> wrong 00:16:45.520 --> 00:16:45.530 align:start position:0% code that whenever something goes wrong 00:16:45.530 --> 00:16:47.740 align:start position:0% code that whenever something goes wrong within<00:16:45.710> the<00:16:45.890> system<00:16:46.250> or<00:16:46.400> if<00:16:46.850> the<00:16:47.060> arena<00:16:47.600> is 00:16:47.740 --> 00:16:47.750 align:start position:0% within the system or if the arena is 00:16:47.750 --> 00:16:49.180 align:start position:0% within the system or if the arena is running<00:16:47.990> out<00:16:48.110> of<00:16:48.140> jumping<00:16:48.530> processing<00:16:49.010> power 00:16:49.180 --> 00:16:49.190 align:start position:0% running out of jumping processing power 00:16:49.190 --> 00:16:52.060 align:start position:0% running out of jumping processing power then<00:16:49.910> that<00:16:49.940> come<00:16:50.420> code<00:16:51.110> will<00:16:51.350> come<00:16:51.530> in<00:16:51.650> and<00:16:52.010> it 00:16:52.060 --> 00:16:52.070 align:start position:0% then that come code will come in and it 00:16:52.070 --> 00:16:55.450 align:start position:0% then that come code will come in and it will<00:16:52.280> modify<00:16:52.460> a<00:16:53.390> certain<00:16:53.900> parameter<00:16:54.080> so<00:16:54.920> so 00:16:55.450 --> 00:16:55.460 align:start position:0% will modify a certain parameter so so 00:16:55.460 --> 00:16:58.240 align:start position:0% will modify a certain parameter so so basically<00:16:55.840> interrupts<00:16:56.840> is<00:16:57.020> just<00:16:57.320> when<00:16:57.860> you 00:16:58.240 --> 00:16:58.250 align:start position:0% basically interrupts is just when you 00:16:58.250 --> 00:17:01.000 align:start position:0% basically interrupts is just when you want<00:16:58.610> to<00:16:58.730> change<00:16:59.090> for<00:17:00.020> example<00:17:00.080> if<00:17:00.530> you<00:17:00.740> have 00:17:01.000 --> 00:17:01.010 align:start position:0% want to change for example if you have 00:17:01.010 --> 00:17:03.820 align:start position:0% want to change for example if you have this<00:17:01.370> control<00:17:02.270> variable<00:17:02.750> X<00:17:02.990> then<00:17:03.320> you<00:17:03.500> change 00:17:03.820 --> 00:17:03.830 align:start position:0% this control variable X then you change 00:17:03.830 --> 00:17:05.890 align:start position:0% this control variable X then you change it<00:17:04.010> to<00:17:04.339> X<00:17:05.089> Prime 00:17:05.890 --> 00:17:05.900 align:start position:0% it to X Prime 00:17:05.900 --> 00:17:08.590 align:start position:0% it to X Prime so<00:17:06.470> that<00:17:06.680> you<00:17:07.190> put<00:17:07.459> it<00:17:07.580> in<00:17:07.730> you<00:17:08.000> put<00:17:08.180> the<00:17:08.209> system 00:17:08.590 --> 00:17:08.600 align:start position:0% so that you put it in you put the system 00:17:08.600 --> 00:17:10.510 align:start position:0% so that you put it in you put the system at<00:17:08.720> a<00:17:08.750> more<00:17:08.900> desirable<00:17:09.230> state<00:17:09.560> so<00:17:09.890> for<00:17:10.070> example 00:17:10.510 --> 00:17:10.520 align:start position:0% at a more desirable state so for example 00:17:10.520 --> 00:17:12.940 align:start position:0% at a more desirable state so for example if<00:17:10.700> your<00:17:10.940> system<00:17:11.750> gets<00:17:11.900> stuck<00:17:12.290> in<00:17:12.530> a<00:17:12.650> local 00:17:12.940 --> 00:17:12.950 align:start position:0% if your system gets stuck in a local 00:17:12.950 --> 00:17:17.350 align:start position:0% if your system gets stuck in a local minimum<00:17:13.280> like<00:17:13.850> this<00:17:15.700> if<00:17:16.700> your<00:17:16.880> system<00:17:17.240> gets 00:17:17.350 --> 00:17:17.360 align:start position:0% minimum like this if your system gets 00:17:17.360 --> 00:17:21.490 align:start position:0% minimum like this if your system gets stuck<00:17:17.690> in<00:17:17.900> a<00:17:18.410> local<00:17:18.560> meadow<00:17:19.360> and<00:17:20.360> say<00:17:21.140> this<00:17:21.350> is 00:17:21.490 --> 00:17:21.500 align:start position:0% stuck in a local meadow and say this is 00:17:21.500 --> 00:17:24.760 align:start position:0% stuck in a local meadow and say this is X<00:17:22.120> basically<00:17:23.120> you<00:17:23.480> you<00:17:23.839> go<00:17:24.110> and<00:17:24.380> intervene 00:17:24.760 --> 00:17:24.770 align:start position:0% X basically you you go and intervene 00:17:24.770 --> 00:17:28.540 align:start position:0% X basically you you go and intervene into<00:17:25.130> the<00:17:25.310> system<00:17:25.730> to<00:17:26.360> put<00:17:26.600> this<00:17:26.780> back<00:17:27.110> here<00:17:27.550> so 00:17:28.540 --> 00:17:28.550 align:start position:0% into the system to put this back here so 00:17:28.550 --> 00:17:30.070 align:start position:0% into the system to put this back here so then<00:17:28.700> it's<00:17:28.880> a<00:17:28.970> it's<00:17:29.180> in<00:17:29.300> a<00:17:29.360> what<00:17:29.540> is<00:17:29.720> our<00:17:29.870> goal 00:17:30.070 --> 00:17:30.080 align:start position:0% then it's a it's in a what is our goal 00:17:30.080 --> 00:17:31.090 align:start position:0% then it's a it's in a what is our goal state<00:17:30.320> and 00:17:31.090 --> 00:17:31.100 align:start position:0% state and 00:17:31.100 --> 00:17:33.100 align:start position:0% state and governance<00:17:31.490> can<00:17:31.850> just<00:17:32.090> hop<00:17:32.240> it<00:17:32.390> from<00:17:32.600> from 00:17:33.100 --> 00:17:33.110 align:start position:0% governance can just hop it from from 00:17:33.110 --> 00:17:34.840 align:start position:0% governance can just hop it from from there<00:17:33.320> on<00:17:33.530> so<00:17:33.830> that<00:17:33.980> the<00:17:34.070> agents<00:17:34.520> can<00:17:34.640> just 00:17:34.840 --> 00:17:34.850 align:start position:0% there on so that the agents can just 00:17:34.850 --> 00:17:38.140 align:start position:0% there on so that the agents can just coordinate<00:17:35.510> themselves<00:17:35.720> from<00:17:36.169> there<00:17:36.320> on<00:17:37.150> so 00:17:38.140 --> 00:17:38.150 align:start position:0% coordinate themselves from there on so 00:17:38.150 --> 00:17:41.470 align:start position:0% coordinate themselves from there on so then<00:17:38.480> you<00:17:38.840> have<00:17:39.020> the<00:17:39.260> problem<00:17:40.039> of<00:17:40.250> or<00:17:40.700> another 00:17:41.470 --> 00:17:41.480 align:start position:0% then you have the problem of or another 00:17:41.480 --> 00:17:43.480 align:start position:0% then you have the problem of or another way<00:17:41.720> of<00:17:41.750> guiding<00:17:42.260> the<00:17:42.380> subarctic<00:17:42.740> system 00:17:43.480 --> 00:17:43.490 align:start position:0% way of guiding the subarctic system 00:17:43.490 --> 00:17:50.470 align:start position:0% way of guiding the subarctic system using<00:17:44.210> systemic<00:17:44.720> control<00:17:48.850> so<00:17:49.850> this<00:17:50.059> is<00:17:50.210> when 00:17:50.470 --> 00:17:50.480 align:start position:0% using systemic control so this is when 00:17:50.480 --> 00:17:52.990 align:start position:0% using systemic control so this is when you<00:17:51.470> don't<00:17:51.679> just<00:17:51.890> change<00:17:52.130> the<00:17:52.340> parameter<00:17:52.820> you 00:17:52.990 --> 00:17:53.000 align:start position:0% you don't just change the parameter you 00:17:53.000 --> 00:17:55.210 align:start position:0% you don't just change the parameter you change<00:17:53.390> the<00:17:54.049> function<00:17:54.470> that<00:17:54.650> controls<00:17:55.070> the 00:17:55.210 --> 00:17:55.220 align:start position:0% change the function that controls the 00:17:55.220 --> 00:17:58.630 align:start position:0% change the function that controls the parameter<00:17:55.610> so<00:17:55.820> you<00:17:55.910> change<00:17:56.210> f<00:17:56.539> of<00:17:56.720> X<00:17:57.070> 2<00:17:58.070> f<00:17:58.309> of<00:17:58.460> X 00:17:58.630 --> 00:17:58.640 align:start position:0% parameter so you change f of X 2 f of X 00:17:58.640 --> 00:18:03.279 align:start position:0% parameter so you change f of X 2 f of X bar<00:17:58.910> or<00:17:59.320> f<00:18:00.320> of<00:18:00.620> X<00:18:00.950> so<00:18:01.610> instead<00:18:01.970> of<00:18:02.240> changing<00:18:02.960> or 00:18:03.279 --> 00:18:03.289 align:start position:0% bar or f of X so instead of changing or 00:18:03.289 --> 00:18:05.799 align:start position:0% bar or f of X so instead of changing or moving<00:18:03.740> at<00:18:03.860> this<00:18:03.950> point<00:18:04.400> to<00:18:04.669> here<00:18:04.970> we<00:18:05.480> change 00:18:05.799 --> 00:18:05.809 align:start position:0% moving at this point to here we change 00:18:05.809 --> 00:18:08.710 align:start position:0% moving at this point to here we change the<00:18:06.080> function<00:18:06.470> itself<00:18:06.830> so<00:18:07.730> if<00:18:08.150> you<00:18:08.419> had<00:18:08.570> an 00:18:08.710 --> 00:18:08.720 align:start position:0% the function itself so if you had an 00:18:08.720 --> 00:18:10.120 align:start position:0% the function itself so if you had an initial<00:18:09.080> function<00:18:09.380> that<00:18:09.500> looked<00:18:09.710> like<00:18:09.770> this 00:18:10.120 --> 00:18:10.130 align:start position:0% initial function that looked like this 00:18:10.130 --> 00:18:12.610 align:start position:0% initial function that looked like this you<00:18:10.880> can<00:18:11.090> make<00:18:11.330> this<00:18:11.539> new<00:18:11.840> function<00:18:12.230> hook<00:18:12.440> like 00:18:12.610 --> 00:18:12.620 align:start position:0% you can make this new function hook like 00:18:12.620 --> 00:18:15.430 align:start position:0% you can make this new function hook like this<00:18:12.890> or<00:18:13.340> any<00:18:13.940> any<00:18:14.659> kind<00:18:14.990> of<00:18:15.080> functional 00:18:15.430 --> 00:18:15.440 align:start position:0% this or any any kind of functional 00:18:15.440 --> 00:18:17.620 align:start position:0% this or any any kind of functional modification<00:18:16.130> this<00:18:16.520> is<00:18:16.700> usually<00:18:17.059> manifested 00:18:17.620 --> 00:18:17.630 align:start position:0% modification this is usually manifested 00:18:17.630 --> 00:18:19.210 align:start position:0% modification this is usually manifested as<00:18:17.750> an<00:18:17.840> art<00:18:17.960> form<00:18:18.200> solid<00:18:18.470> watch-chain<00:18:18.830> and 00:18:19.210 --> 00:18:19.220 align:start position:0% as an art form solid watch-chain and 00:18:19.220 --> 00:18:24.279 align:start position:0% as an art form solid watch-chain and then<00:18:20.150> you<00:18:20.659> can<00:18:20.870> have<00:18:22.299> entire<00:18:23.299> digital 00:18:24.279 --> 00:18:24.289 align:start position:0% then you can have entire digital 00:18:24.289 --> 00:18:31.150 align:start position:0% then you can have entire digital constitutions 00:18:31.150 --> 00:18:31.160 align:start position:0% 00:18:31.160 --> 00:18:33.430 align:start position:0% so<00:18:31.700> this<00:18:31.880> is<00:18:32.030> what<00:18:32.270> you<00:18:32.390> want<00:18:32.570> to<00:18:32.750> change<00:18:33.050> the 00:18:33.430 --> 00:18:33.440 align:start position:0% so this is what you want to change the 00:18:33.440 --> 00:18:35.590 align:start position:0% so this is what you want to change the entire<00:18:33.890> structure<00:18:34.370> in<00:18:34.730> which<00:18:34.970> the<00:18:35.240> government 00:18:35.590 --> 00:18:35.600 align:start position:0% entire structure in which the government 00:18:35.600 --> 00:18:37.900 align:start position:0% entire structure in which the government governance<00:18:36.140> is<00:18:36.290> operating<00:18:36.770> under<00:18:36.860> so<00:18:37.580> you<00:18:37.640> can 00:18:37.900 --> 00:18:37.910 align:start position:0% governance is operating under so you can 00:18:37.910 --> 00:18:40.030 align:start position:0% governance is operating under so you can go<00:18:38.060> from<00:18:38.270> a<00:18:38.450> democracy<00:18:38.690> to<00:18:39.140> occur<00:18:39.440> Oh<00:18:39.650> a<00:18:39.770> car 00:18:40.030 --> 00:18:40.040 align:start position:0% go from a democracy to occur Oh a car 00:18:40.040 --> 00:18:42.760 align:start position:0% go from a democracy to occur Oh a car key<00:18:40.250> or<00:18:40.520> anything<00:18:41.150> of<00:18:41.390> that<00:18:41.420> sort<00:18:41.600> and<00:18:42.080> this<00:18:42.620> is 00:18:42.760 --> 00:18:42.770 align:start position:0% key or anything of that sort and this is 00:18:42.770 --> 00:18:44.710 align:start position:0% key or anything of that sort and this is something<00:18:42.950> this<00:18:43.520> is<00:18:43.610> when<00:18:43.790> you<00:18:44.000> predefined 00:18:44.710 --> 00:18:44.720 align:start position:0% something this is when you predefined 00:18:44.720 --> 00:18:47.200 align:start position:0% something this is when you predefined the<00:18:45.560> structure<00:18:46.070> of<00:18:46.190> the<00:18:46.310> governance<00:18:46.730> itself 00:18:47.200 --> 00:18:47.210 align:start position:0% the structure of the governance itself 00:18:47.210 --> 00:18:50.520 align:start position:0% the structure of the governance itself so<00:18:47.690> now<00:18:47.960> you're<00:18:48.170> changing<00:18:48.620> the<00:18:48.710> entire<00:18:49.130> set<00:18:49.730> of 00:18:50.520 --> 00:18:50.530 align:start position:0% so now you're changing the entire set of 00:18:50.530 --> 00:18:53.830 align:start position:0% so now you're changing the entire set of governance<00:18:51.530> policies<00:18:52.130> that<00:18:52.880> is<00:18:53.030> defined<00:18:53.420> by<00:18:53.600> F 00:18:53.830 --> 00:18:53.840 align:start position:0% governance policies that is defined by F 00:18:53.840 --> 00:19:00.670 align:start position:0% governance policies that is defined by F 1<00:18:53.870> X<00:18:55.210> 2<00:18:56.210> X<00:18:56.800> all<00:18:57.800> at<00:18:58.100> the<00:18:58.280> effects<00:18:58.910> of<00:18:59.180> all<00:19:00.080> of<00:19:00.530> the 00:19:00.670 --> 00:19:00.680 align:start position:0% 1 X 2 X all at the effects of all of the 00:19:00.680 --> 00:19:03.970 align:start position:0% 1 X 2 X all at the effects of all of the policies<00:19:01.190> that<00:19:01.510> determine<00:19:02.510> or<00:19:02.980> underlying 00:19:03.970 --> 00:19:03.980 align:start position:0% policies that determine or underlying 00:19:03.980 --> 00:19:06.430 align:start position:0% policies that determine or underlying the<00:19:04.310> entire<00:19:04.730> governance<00:19:05.180> mechanism<00:19:05.690> so<00:19:06.380> you 00:19:06.430 --> 00:19:06.440 align:start position:0% the entire governance mechanism so you 00:19:06.440 --> 00:19:09.370 align:start position:0% the entire governance mechanism so you change<00:19:06.800> it<00:19:06.980> to<00:19:07.280> G<00:19:07.850> Prime<00:19:08.120> so<00:19:08.780> this<00:19:09.050> will<00:19:09.230> become 00:19:09.370 --> 00:19:09.380 align:start position:0% change it to G Prime so this will become 00:19:09.380 --> 00:19:11.560 align:start position:0% change it to G Prime so this will become basically<00:19:09.980> all<00:19:10.610> of<00:19:10.670> the<00:19:11.000> differences<00:19:11.420> two 00:19:11.560 --> 00:19:11.570 align:start position:0% basically all of the differences two 00:19:11.570 --> 00:19:15.010 align:start position:0% basically all of the differences two sets<00:19:11.840> of<00:19:11.960> functions<00:19:12.140> in<00:19:13.100> which<00:19:14.020> its 00:19:15.010 --> 00:19:15.020 align:start position:0% sets of functions in which its 00:19:15.020 --> 00:19:16.930 align:start position:0% sets of functions in which its moderating<00:19:15.680> hunter<00:19:15.920> and<00:19:16.160> then<00:19:16.280> you<00:19:16.400> basically 00:19:16.930 --> 00:19:16.940 align:start position:0% moderating hunter and then you basically 00:19:16.940 --> 00:19:21.220 align:start position:0% moderating hunter and then you basically transform<00:19:17.720> it<00:19:17.900> to<00:19:18.400> things<00:19:19.400> like<00:19:19.520> this<00:19:19.850> so<00:19:20.750> so 00:19:21.220 --> 00:19:21.230 align:start position:0% transform it to things like this so so 00:19:21.230 --> 00:19:24.160 align:start position:0% transform it to things like this so so that<00:19:21.650> is<00:19:22.040> that<00:19:22.760> although<00:19:23.060> it<00:19:23.540> creates<00:19:23.840> a<00:19:23.960> huge 00:19:24.160 --> 00:19:24.170 align:start position:0% that is that although it creates a huge 00:19:24.170 --> 00:19:25.600 align:start position:0% that is that although it creates a huge enough<00:19:24.440> amount<00:19:24.740> of<00:19:24.860> change<00:19:25.070> you<00:19:25.160> can<00:19:25.310> see<00:19:25.460> how 00:19:25.600 --> 00:19:25.610 align:start position:0% enough amount of change you can see how 00:19:25.610 --> 00:19:28.660 align:start position:0% enough amount of change you can see how limiting<00:19:26.060> that<00:19:26.240> is<00:19:26.360> so<00:19:26.960> basically<00:19:27.440> in<00:19:28.310> the 00:19:28.660 --> 00:19:28.670 align:start position:0% limiting that is so basically in the 00:19:28.670 --> 00:19:30.190 align:start position:0% limiting that is so basically in the whole<00:19:28.970> field<00:19:29.180> of<00:19:29.360> complex<00:19:29.600> systems<00:19:30.050> you<00:19:30.170> have 00:19:30.190 --> 00:19:30.200 align:start position:0% whole field of complex systems you have 00:19:30.200 --> 00:19:32.380 align:start position:0% whole field of complex systems you have this<00:19:30.550> you<00:19:31.550> have<00:19:31.580> to<00:19:31.850> spend<00:19:32.090> out<00:19:32.180> half 00:19:32.380 --> 00:19:32.390 align:start position:0% this you have to spend out half 00:19:32.390 --> 00:19:34.360 align:start position:0% this you have to spend out half self-organisation<00:19:33.110> where<00:19:33.530> you<00:19:33.980> allow<00:19:34.310> the 00:19:34.360 --> 00:19:34.370 align:start position:0% self-organisation where you allow the 00:19:34.370 --> 00:19:36.460 align:start position:0% self-organisation where you allow the agents<00:19:34.880> to<00:19:35.060> govern<00:19:35.660> themselves<00:19:35.870> so<00:19:36.230> that<00:19:36.260> you 00:19:36.460 --> 00:19:36.470 align:start position:0% agents to govern themselves so that you 00:19:36.470 --> 00:19:39.160 align:start position:0% agents to govern themselves so that you can<00:19:36.560> observe<00:19:36.830> emergent<00:19:37.340> effects<00:19:37.900> however<00:19:38.900> if 00:19:39.160 --> 00:19:39.170 align:start position:0% can observe emergent effects however if 00:19:39.170 --> 00:19:41.830 align:start position:0% can observe emergent effects however if you<00:19:39.350> if<00:19:39.560> you<00:19:39.680> go<00:19:39.860> ahead<00:19:40.040> and<00:19:40.460> if<00:19:40.820> you<00:19:41.090> change 00:19:41.830 --> 00:19:41.840 align:start position:0% you if you go ahead and if you change 00:19:41.840 --> 00:19:43.810 align:start position:0% you if you go ahead and if you change the<00:19:42.020> original<00:19:42.410> Constitution<00:19:42.950> itself<00:19:43.250> you<00:19:43.760> are 00:19:43.810 --> 00:19:43.820 align:start position:0% the original Constitution itself you are 00:19:43.820 --> 00:19:45.940 align:start position:0% the original Constitution itself you are guiding<00:19:44.210> the<00:19:44.240> system<00:19:44.630> too<00:19:44.870> much<00:19:45.080> in<00:19:45.350> such<00:19:45.920> a 00:19:45.940 --> 00:19:45.950 align:start position:0% guiding the system too much in such a 00:19:45.950 --> 00:19:48.430 align:start position:0% guiding the system too much in such a way<00:19:46.220> that<00:19:46.580> the<00:19:47.000> governance<00:19:47.690> of<00:19:47.870> that<00:19:48.110> system 00:19:48.430 --> 00:19:48.440 align:start position:0% way that the governance of that system 00:19:48.440 --> 00:19:52.330 align:start position:0% way that the governance of that system or<00:19:48.980> the<00:19:49.700> behavior<00:19:50.510> of<00:19:50.630> that<00:19:50.660> system<00:19:51.230> will<00:19:51.860> be 00:19:52.330 --> 00:19:52.340 align:start position:0% or the behavior of that system will be 00:19:52.340 --> 00:19:54.850 align:start position:0% or the behavior of that system will be too<00:19:52.580> constrained<00:19:53.180> or<00:19:53.360> too<00:19:53.570> limited<00:19:54.080> in<00:19:54.290> order 00:19:54.850 --> 00:19:54.860 align:start position:0% too constrained or too limited in order 00:19:54.860 --> 00:19:56.740 align:start position:0% too constrained or too limited in order to<00:19:55.100> for<00:19:55.610> you<00:19:55.700> to<00:19:55.850> actually<00:19:56.270> observe<00:19:56.540> any 00:19:56.740 --> 00:19:56.750 align:start position:0% to for you to actually observe any 00:19:56.750 --> 00:19:58.750 align:start position:0% to for you to actually observe any emergent<00:19:57.230> facts<00:19:57.470> so<00:19:57.950> although<00:19:58.220> that's<00:19:58.550> high 00:19:58.750 --> 00:19:58.760 align:start position:0% emergent facts so although that's high 00:19:58.760 --> 00:20:00.490 align:start position:0% emergent facts so although that's high impact<00:19:59.210> interpreting<00:20:00.140> and<00:20:00.290> highly 00:20:00.490 --> 00:20:00.500 align:start position:0% impact interpreting and highly 00:20:00.500 --> 00:20:03.070 align:start position:0% impact interpreting and highly constraining<00:20:01.130> it's<00:20:01.250> not<00:20:01.460> also<00:20:02.080> systemic 00:20:03.070 --> 00:20:03.080 align:start position:0% constraining it's not also systemic 00:20:03.080 --> 00:20:05.080 align:start position:0% constraining it's not also systemic control<00:20:03.470> is<00:20:03.710> kind<00:20:04.040> of<00:20:04.130> in<00:20:04.280> a<00:20:04.340> medium<00:20:04.610> level<00:20:04.790> it 00:20:05.080 --> 00:20:05.090 align:start position:0% control is kind of in a medium level it 00:20:05.090 --> 00:20:07.540 align:start position:0% control is kind of in a medium level it has<00:20:05.540> some<00:20:05.750> executional<00:20:06.380> challenges<00:20:06.980> so<00:20:07.430> the 00:20:07.540 --> 00:20:07.550 align:start position:0% has some executional challenges so the 00:20:07.550 --> 00:20:08.860 align:start position:0% has some executional challenges so the executional<00:20:08.000> challenges<00:20:08.450> with<00:20:08.570> systemic 00:20:08.860 --> 00:20:08.870 align:start position:0% executional challenges with systemic 00:20:08.870 --> 00:20:10.480 align:start position:0% executional challenges with systemic Controller<00:20:09.290> standards<00:20:09.770> requires<00:20:10.160> a<00:20:10.250> lot<00:20:10.460> of 00:20:10.480 --> 00:20:10.490 align:start position:0% Controller standards requires a lot of 00:20:10.490 --> 00:20:12.340 align:start position:0% Controller standards requires a lot of coordination<00:20:10.700> amongst<00:20:11.240> agents<00:20:11.690> do<00:20:12.140> you<00:20:12.230> know 00:20:12.340 --> 00:20:12.350 align:start position:0% coordination amongst agents do you know 00:20:12.350 --> 00:20:13.960 align:start position:0% coordination amongst agents do you know arrive<00:20:12.650> at<00:20:12.800> a<00:20:12.860> consensus<00:20:13.370> for<00:20:13.670> you<00:20:13.850> know 00:20:13.960 --> 00:20:13.970 align:start position:0% arrive at a consensus for you know 00:20:13.970 --> 00:20:16.570 align:start position:0% arrive at a consensus for you know executing<00:20:14.780> a<00:20:14.840> hard<00:20:15.080> work<00:20:15.370> whereas<00:20:16.370> with 00:20:16.570 --> 00:20:16.580 align:start position:0% executing a hard work whereas with 00:20:16.580 --> 00:20:19.870 align:start position:0% executing a hard work whereas with interrupts<00:20:17.180> it's<00:20:17.390> it's<00:20:17.870> very<00:20:18.160> it's<00:20:19.160> very<00:20:19.520> low 00:20:19.870 --> 00:20:19.880 align:start position:0% interrupts it's it's very it's very low 00:20:19.880 --> 00:20:22.900 align:start position:0% interrupts it's it's very it's very low impact<00:20:20.330> but<00:20:21.020> at<00:20:21.170> the<00:20:21.290> same<00:20:21.470> time<00:20:21.800> it<00:20:22.190> will<00:20:22.460> it 00:20:22.900 --> 00:20:22.910 align:start position:0% impact but at the same time it will it 00:20:22.910 --> 00:20:25.510 align:start position:0% impact but at the same time it will it will<00:20:23.060> definitely<00:20:23.600> create<00:20:23.840> a<00:20:24.320> change<00:20:25.310> within 00:20:25.510 --> 00:20:25.520 align:start position:0% will definitely create a change within 00:20:25.520 --> 00:20:27.420 align:start position:0% will definitely create a change within the<00:20:25.730> system<00:20:26.120> but<00:20:26.330> it's<00:20:26.810> the<00:20:27.110> thing 00:20:27.420 --> 00:20:27.430 align:start position:0% the system but it's the thing 00:20:27.430 --> 00:20:31.320 align:start position:0% the system but it's the thing it's<00:20:27.820> also<00:20:28.470> highly<00:20:29.470> flexible<00:20:30.070> in<00:20:30.700> such<00:20:31.030> a<00:20:31.060> way 00:20:31.320 --> 00:20:31.330 align:start position:0% it's also highly flexible in such a way 00:20:31.330 --> 00:20:32.880 align:start position:0% it's also highly flexible in such a way that<00:20:31.630> you<00:20:31.870> will<00:20:32.050> be<00:20:32.110> able<00:20:32.380> to<00:20:32.530> observe 00:20:32.880 --> 00:20:32.890 align:start position:0% that you will be able to observe 00:20:32.890 --> 00:20:34.530 align:start position:0% that you will be able to observe emergent<00:20:33.370> effects<00:20:33.670> even<00:20:33.970> if<00:20:34.060> you<00:20:34.180> do<00:20:34.330> change 00:20:34.530 --> 00:20:34.540 align:start position:0% emergent effects even if you do change 00:20:34.540 --> 00:20:36.750 align:start position:0% emergent effects even if you do change the<00:20:34.870> interrupts<00:20:35.320> or<00:20:35.590> if<00:20:36.070> you<00:20:36.250> change<00:20:36.550> the 00:20:36.750 --> 00:20:36.760 align:start position:0% the interrupts or if you change the 00:20:36.760 --> 00:20:39.450 align:start position:0% the interrupts or if you change the control<00:20:37.120> parameters<00:20:37.600> so<00:20:38.260> those<00:20:39.160> are<00:20:39.340> the 00:20:39.450 --> 00:20:39.460 align:start position:0% control parameters so those are the 00:20:39.460 --> 00:20:40.590 align:start position:0% control parameters so those are the three<00:20:39.700> ways<00:20:39.910> in<00:20:39.970> which<00:20:40.180> you<00:20:40.450> can 00:20:40.590 --> 00:20:40.600 align:start position:0% three ways in which you can 00:20:40.600 --> 00:20:43.950 align:start position:0% three ways in which you can mathematically<00:20:41.350> think<00:20:42.130> of<00:20:42.480> how<00:20:43.480> to<00:20:43.540> guide 00:20:43.950 --> 00:20:43.960 align:start position:0% mathematically think of how to guide 00:20:43.960 --> 00:20:47.100 align:start position:0% mathematically think of how to guide self-organizing<00:20:44.800> systems<00:20:45.220> and<00:20:45.520> I<00:20:46.390> think<00:20:46.930> that 00:20:47.100 --> 00:20:47.110 align:start position:0% self-organizing systems and I think that 00:20:47.110 --> 00:20:48.960 align:start position:0% self-organizing systems and I think that next<00:20:47.590> layer<00:20:48.010> will<00:20:48.220> be<00:20:48.310> talking<00:20:48.550> about<00:20:48.730> the 00:20:48.960 --> 00:20:48.970 align:start position:0% next layer will be talking about the 00:20:48.970 --> 00:20:51.210 align:start position:0% next layer will be talking about the different<00:20:49.270> ways<00:20:49.330> in<00:20:49.660> which<00:20:50.220> constitutions 00:20:51.210 --> 00:20:51.220 align:start position:0% different ways in which constitutions 00:20:51.220 --> 00:20:55.500 align:start position:0% different ways in which constitutions can<00:20:51.490> or<00:20:51.790> structures<00:20:52.750> of<00:20:53.080> events<00:20:53.710> can<00:20:53.920> be<00:20:54.510> can 00:20:55.500 --> 00:20:55.510 align:start position:0% can or structures of events can be can 00:20:55.510 --> 00:20:57.240 align:start position:0% can or structures of events can be can be<00:20:55.540> designed<00:20:56.380> within<00:20:56.680> itself<00:20:56.890> of<00:20:57.100> their 00:20:57.240 --> 00:20:57.250 align:start position:0% be designed within itself of their 00:20:57.250 --> 00:21:00.030 align:start position:0% be designed within itself of their movement<00:20:58.290> thank<00:20:59.290> you<00:20:59.410> shitty<00:20:59.620> and<00:20:59.890> you're 00:21:00.030 --> 00:21:00.040 align:start position:0% movement thank you shitty and you're 00:21:00.040 --> 00:21:02.040 align:start position:0% movement thank you shitty and you're gonna<00:21:00.160> do<00:21:00.370> a<00:21:00.400> talking<00:21:00.940> later<00:21:01.120> today<00:21:01.360> right<00:21:01.720> we 00:21:02.040 --> 00:21:02.050 align:start position:0% gonna do a talking later today right we 00:21:02.050 --> 00:21:03.690 align:start position:0% gonna do a talking later today right we can<00:21:02.200> dive<00:21:02.440> more<00:21:02.650> into<00:21:02.710> this<00:21:02.890> with<00:21:03.130> you<00:21:03.250> later 00:21:03.690 --> 00:21:03.700 align:start position:0% can dive more into this with you later 00:21:03.700 --> 00:21:05.580 align:start position:0% can dive more into this with you later yeah<00:21:03.850> okay<00:21:04.330> cool<00:21:04.630> so<00:21:04.750> make<00:21:05.170> sure<00:21:05.200> not<00:21:05.320> to<00:21:05.470> miss 00:21:05.580 --> 00:21:05.590 align:start position:0% yeah okay cool so make sure not to miss 00:21:05.590 --> 00:21:08.460 align:start position:0% yeah okay cool so make sure not to miss that<00:21:05.890> there<00:21:06.490> is<00:21:06.610> an<00:21:06.760> enormous<00:21:07.480> amount<00:21:07.840> that<00:21:08.260> we 00:21:08.460 --> 00:21:08.470 align:start position:0% that there is an enormous amount that we 00:21:08.470 --> 00:21:10.560 align:start position:0% that there is an enormous amount that we can<00:21:08.770> learn<00:21:08.980> from<00:21:09.390> researchers<00:21:10.390> such<00:21:10.540> as 00:21:10.560 --> 00:21:10.570 align:start position:0% can learn from researchers such as 00:21:10.570 --> 00:21:12.690 align:start position:0% can learn from researchers such as Shruti<00:21:10.930> who<00:21:11.050> are<00:21:11.110> exploring<00:21:11.470> these<00:21:11.920> ideas<00:21:12.070> of 00:21:12.690 --> 00:21:12.700 align:start position:0% Shruti who are exploring these ideas of 00:21:12.700 --> 00:21:14.490 align:start position:0% Shruti who are exploring these ideas of network<00:21:13.060> theory<00:21:13.360> and<00:21:13.720> systems<00:21:14.200> theory<00:21:14.380> of 00:21:14.490 --> 00:21:14.500 align:start position:0% network theory and systems theory of 00:21:14.500 --> 00:21:16.800 align:start position:0% network theory and systems theory of complex<00:21:14.860> systems<00:21:15.220> I've<00:21:15.520> just<00:21:15.880> tiptoed<00:21:16.660> into 00:21:16.800 --> 00:21:16.810 align:start position:0% complex systems I've just tiptoed into 00:21:16.810 --> 00:21:18.810 align:start position:0% complex systems I've just tiptoed into this<00:21:16.960> space<00:21:17.140> myself<00:21:17.590> and<00:21:17.890> I<00:21:18.130> encourage<00:21:18.670> all<00:21:18.790> of 00:21:18.810 --> 00:21:18.820 align:start position:0% this space myself and I encourage all of 00:21:18.820 --> 00:21:20.370 align:start position:0% this space myself and I encourage all of you<00:21:18.970> to<00:21:19.000> do<00:21:19.210> the<00:21:19.330> same<00:21:19.540> check<00:21:19.900> out<00:21:20.320> this 00:21:20.370 --> 00:21:20.380 align:start position:0% you to do the same check out this 00:21:20.380 --> 00:21:21.600 align:start position:0% you to do the same check out this article<00:21:20.590> is<00:21:20.860> this<00:21:20.980> your<00:21:21.100> article<00:21:21.430> there 00:21:21.600 --> 00:21:21.610 align:start position:0% article is this your article there 00:21:21.610 --> 00:21:24.000 align:start position:0% article is this your article there should<00:21:21.760> be<00:21:21.880> that's<00:21:22.540> a<00:21:22.810> big<00:21:23.050> italics<00:21:23.560> article 00:21:24.000 --> 00:21:24.010 align:start position:0% should be that's a big italics article 00:21:24.010 --> 00:21:28.020 align:start position:0% should be that's a big italics article into<00:21:24.400> a<00:21:24.430> constitution<00:21:25.060> cool<00:21:25.510> yeah<00:21:26.730> okay<00:21:27.730> so 00:21:28.020 --> 00:21:28.030 align:start position:0% into a constitution cool yeah okay so 00:21:28.030 --> 00:21:30.930 align:start position:0% into a constitution cool yeah okay so I'm<00:21:28.930> gonna<00:21:29.080> end<00:21:29.350> this<00:21:29.500> talk<00:21:29.770> but<00:21:30.550> I<00:21:30.610> wanted<00:21:30.820> to 00:21:30.930 --> 00:21:30.940 align:start position:0% I'm gonna end this talk but I wanted to 00:21:30.940 --> 00:21:32.580 align:start position:0% I'm gonna end this talk but I wanted to just<00:21:31.090> show<00:21:31.270> you<00:21:31.330> guys<00:21:31.630> a<00:21:31.660> brief<00:21:32.110> snapshot<00:21:32.350> of 00:21:32.580 --> 00:21:32.590 align:start position:0% just show you guys a brief snapshot of 00:21:32.590 --> 00:21:33.990 align:start position:0% just show you guys a brief snapshot of what<00:21:32.800> the<00:21:32.950> rest<00:21:33.100> of<00:21:33.220> the<00:21:33.280> day<00:21:33.400> looks<00:21:33.610> like 00:21:33.990 --> 00:21:34.000 align:start position:0% what the rest of the day looks like 00:21:34.000 --> 00:21:36.480 align:start position:0% what the rest of the day looks like so<00:21:34.360> up<00:21:34.510> next<00:21:34.590> we<00:21:35.590> have<00:21:35.710> a<00:21:35.770> talk<00:21:36.010> from<00:21:36.190> that<00:21:36.370> it 00:21:36.480 --> 00:21:36.490 align:start position:0% so up next we have a talk from that it 00:21:36.490 --> 00:21:37.980 align:start position:0% so up next we have a talk from that it was<00:21:36.640> going<00:21:36.820> to<00:21:36.940> talk<00:21:37.330> about<00:21:37.600> history<00:21:37.900> of 00:21:37.980 --> 00:21:37.990 align:start position:0% was going to talk about history of 00:21:37.990 --> 00:21:39.540 align:start position:0% was going to talk about history of democracy<00:21:38.170> and<00:21:38.530> random<00:21:38.830> selection<00:21:39.250> is<00:21:39.370> really 00:21:39.540 --> 00:21:39.550 align:start position:0% democracy and random selection is really 00:21:39.550 --> 00:21:41.820 align:start position:0% democracy and random selection is really exciting<00:21:40.030> you<00:21:40.930> hear<00:21:41.110> about<00:21:41.170> history<00:21:41.710> of 00:21:41.820 --> 00:21:41.830 align:start position:0% exciting you hear about history of 00:21:41.830 --> 00:21:43.890 align:start position:0% exciting you hear about history of blockchain<00:21:42.130> governance<00:21:42.540> John<00:21:43.540> I<00:21:43.570> left<00:21:43.810> that 00:21:43.890 --> 00:21:43.900 align:start position:0% blockchain governance John I left that 00:21:43.900 --> 00:21:45.360 align:start position:0% blockchain governance John I left that Snoke<00:21:44.110> a<00:21:44.230> title<00:21:44.530> I<00:21:44.590> think<00:21:44.770> I<00:21:44.860> may<00:21:45.010> have<00:21:45.040> throw 00:21:45.360 --> 00:21:45.370 align:start position:0% Snoke a title I think I may have throw 00:21:45.370 --> 00:21:47.960 align:start position:0% Snoke a title I think I may have throw that<00:21:45.520> up<00:21:45.610> there<00:21:45.790> but<00:21:46.030> is<00:21:46.180> that<00:21:46.330> accurate<00:21:46.830> yeah 00:21:47.960 --> 00:21:47.970 align:start position:0% that up there but is that accurate yeah 00:21:47.970 --> 00:21:50.700 align:start position:0% that up there but is that accurate yeah repetition<00:21:48.970> approximates<00:21:49.480> that<00:21:49.570> see<00:21:49.960> that's 00:21:50.700 --> 00:21:50.710 align:start position:0% repetition approximates that see that's 00:21:50.710 --> 00:21:52.350 align:start position:0% repetition approximates that see that's approximately<00:21:50.920> right<00:21:51.400> and<00:21:51.910> we<00:21:52.000> have<00:21:52.120> a<00:21:52.150> bunch 00:21:52.350 --> 00:21:52.360 align:start position:0% approximately right and we have a bunch 00:21:52.360 --> 00:21:54.000 align:start position:0% approximately right and we have a bunch of<00:21:52.510> sort<00:21:53.050> of<00:21:53.110> lightning<00:21:53.410> talks<00:21:53.620> of<00:21:53.770> it<00:21:53.890> or 00:21:54.000 --> 00:21:54.010 align:start position:0% of sort of lightning talks of it or 00:21:54.010 --> 00:21:55.050 align:start position:0% of sort of lightning talks of it or protocols<00:21:54.430> and<00:21:54.610> then<00:21:54.700> we'll<00:21:54.820> kind<00:21:54.940> of 00:21:55.050 --> 00:21:55.060 align:start position:0% protocols and then we'll kind of 00:21:55.060 --> 00:21:58.560 align:start position:0% protocols and then we'll kind of conclude<00:21:55.590> with<00:21:56.590> a<00:21:56.860> few<00:21:57.070> more<00:21:57.160> talks<00:21:57.570> 50 00:21:58.560 --> 00:21:58.570 align:start position:0% conclude with a few more talks 50 00:21:58.570 --> 00:21:59.450 align:start position:0% conclude with a few more talks 50 indicates 00:21:59.450 --> 00:21:59.460 align:start position:0% indicates 00:21:59.460 --> 00:22:02.850 align:start position:0% indicates Ilya<00:22:00.460> and<00:22:00.550> myself<00:22:00.910> and<00:22:01.590> so<00:22:02.590> my<00:22:02.800> understanding 00:22:02.850 --> 00:22:02.860 align:start position:0% Ilya and myself and so my understanding 00:22:02.860 --> 00:22:06.000 align:start position:0% Ilya and myself and so my understanding is<00:22:03.370> that<00:22:03.960> this<00:22:04.960> session<00:22:05.260> officially<00:22:05.710> ends<00:22:05.860> at 00:22:06.000 --> 00:22:06.010 align:start position:0% is that this session officially ends at 00:22:06.010 --> 00:22:07.890 align:start position:0% is that this session officially ends at 12<00:22:06.280> but<00:22:06.550> there's<00:22:06.940> nothing<00:22:07.210> here<00:22:07.420> after<00:22:07.750> this 00:22:07.890 --> 00:22:07.900 align:start position:0% 12 but there's nothing here after this 00:22:07.900 --> 00:22:10.080 align:start position:0% 12 but there's nothing here after this and<00:22:08.110> the<00:22:08.170> venue<00:22:08.380> is<00:22:08.440> open<00:22:08.710> until<00:22:08.980> 2<00:22:09.160> p.m.<00:22:09.190> so 00:22:10.080 --> 00:22:10.090 align:start position:0% and the venue is open until 2 p.m. so 00:22:10.090 --> 00:22:12.180 align:start position:0% and the venue is open until 2 p.m. so I'm<00:22:10.900> happy<00:22:11.140> to<00:22:11.290> stick<00:22:11.440> around<00:22:11.560> than<00:22:11.920> anyone 00:22:12.180 --> 00:22:12.190 align:start position:0% I'm happy to stick around than anyone 00:22:12.190 --> 00:22:13.920 align:start position:0% I'm happy to stick around than anyone else<00:22:12.340> else<00:22:12.640> you<00:22:12.820> can<00:22:13.060> stick<00:22:13.330> around<00:22:13.450> we<00:22:13.720> can<00:22:13.840> go 00:22:13.920 --> 00:22:13.930 align:start position:0% else else you can stick around we can go 00:22:13.930 --> 00:22:15.300 align:start position:0% else else you can stick around we can go a<00:22:13.960> little<00:22:14.110> over<00:22:14.410> time<00:22:14.560> and<00:22:14.860> maybe<00:22:14.980> we<00:22:15.100> can<00:22:15.220> do<00:22:15.280> a 00:22:15.300 --> 00:22:15.310 align:start position:0% a little over time and maybe we can do a 00:22:15.310 --> 00:22:16.240 align:start position:0% a little over time and maybe we can do a palace 00:22:16.240 --> 00:22:16.250 align:start position:0% palace 00:22:16.250 --> 00:22:18.490 align:start position:0% palace so<00:22:16.640> feel<00:22:16.820> free<00:22:16.850> to<00:22:16.970> go<00:22:17.510> out<00:22:17.540> grab<00:22:17.780> lunch<00:22:18.020> come 00:22:18.490 --> 00:22:18.500 align:start position:0% so feel free to go out grab lunch come 00:22:18.500 --> 00:22:21.250 align:start position:0% so feel free to go out grab lunch come back<00:22:18.650> if<00:22:18.770> your<00:22:19.010> student<00:22:19.220> sticking<00:22:19.490> around<00:22:20.260> I'm 00:22:21.250 --> 00:22:21.260 align:start position:0% back if your student sticking around I'm 00:22:21.260 --> 00:22:22.810 align:start position:0% back if your student sticking around I'm out<00:22:21.470> of<00:22:21.500> time<00:22:21.710> so<00:22:21.770> I'm<00:22:22.190> going<00:22:22.340> to<00:22:22.370> put<00:22:22.549> this<00:22:22.640> on 00:22:22.810 --> 00:22:22.820 align:start position:0% out of time so I'm going to put this on 00:22:22.820 --> 00:22:25.600 align:start position:0% out of time so I'm going to put this on hold<00:22:23.030> for<00:22:23.419> now<00:22:23.650> let's<00:22:24.650> continue<00:22:25.190> with<00:22:25.429> the 00:22:25.600 --> 00:22:25.610 align:start position:0% hold for now let's continue with the 00:22:25.610 --> 00:22:27.159 align:start position:0% hold for now let's continue with the other<00:22:25.640> talks<00:22:26.030> and<00:22:26.240> if<00:22:26.330> we<00:22:26.450> have<00:22:26.630> any<00:22:26.660> more<00:22:26.929> time 00:22:27.159 --> 00:22:27.169 align:start position:0% other talks and if we have any more time 00:22:27.169 --> 00:22:29.200 align:start position:0% other talks and if we have any more time later<00:22:27.500> that<00:22:27.620> I'm<00:22:27.830> happy<00:22:28.070> to<00:22:28.100> share<00:22:28.460> more<00:22:28.940> on<00:22:29.179> a 00:22:29.200 --> 00:22:29.210 align:start position:0% later that I'm happy to share more on a 00:22:29.210 --> 00:22:31.299 align:start position:0% later that I'm happy to share more on a theory<00:22:29.450> of<00:22:29.480> governance<00:22:29.870> with<00:22:30.230> everybody<00:22:30.590> okay 00:22:31.299 --> 00:22:31.309 align:start position:0% theory of governance with everybody okay 00:22:31.309 --> 00:22:40.360 align:start position:0% theory of governance with everybody okay thank<00:22:31.940> you<00:22:32.000> very<00:22:32.090> much<00:22:32.330> for<00:22:32.419> this<00:22:32.570> thing<00:22:39.370> are 00:22:40.360 --> 00:22:40.370 align:start position:0% thank you very much for this thing are 00:22:40.370 --> 00:22:46.539 align:start position:0% thank you very much for this thing are you<00:22:42.160> friends<00:22:43.160> here<00:22:44.530> you<00:22:45.530> can't<00:22:45.740> stop<00:22:46.400> her 00:22:46.539 --> 00:22:46.549 align:start position:0% you friends here you can't stop her 00:22:46.549 --> 00:22:49.030 align:start position:0% you friends here you can't stop her being<00:22:46.730> shorter<00:22:47.090> than<00:22:47.240> this<00:22:47.990> myself<00:22:48.320> I'm<00:22:48.500> Rico 00:22:49.030 --> 00:22:49.040 align:start position:0% being shorter than this myself I'm Rico 00:22:49.040 --> 00:22:53.799 align:start position:0% being shorter than this myself I'm Rico I'm<00:22:50.030> CEO<00:22:50.330> Anthony<00:22:50.540> Rose<00:22:51.790> we<00:22:52.790> do<00:22:52.910> in<00:22:53.299> dry<00:22:53.480> sports 00:22:53.799 --> 00:22:53.809 align:start position:0% I'm CEO Anthony Rose we do in dry sports 00:22:53.809 --> 00:22:56.310 align:start position:0% I'm CEO Anthony Rose we do in dry sports but<00:22:54.770> I'm<00:22:54.919> going<00:22:55.190> to<00:22:55.220> speak<00:22:55.429> about<00:22:55.580> this<00:22:55.820> now 00:22:56.310 --> 00:22:56.320 align:start position:0% but I'm going to speak about this now 00:22:56.320 --> 00:22:59.200 align:start position:0% but I'm going to speak about this now and<00:22:57.320> we'll<00:22:57.530> just<00:22:57.650> talk<00:22:57.740> about<00:22:57.830> this<00:22:58.100> later<00:22:58.400> but 00:22:59.200 --> 00:22:59.210 align:start position:0% and we'll just talk about this later but 00:22:59.210 --> 00:23:01.659 align:start position:0% and we'll just talk about this later but I'm<00:22:59.330> going<00:22:59.510> to<00:22:59.600> speak<00:22:59.780> about<00:22:59.870> now<00:23:00.140> is<00:23:00.320> and<00:23:00.669> some 00:23:01.659 --> 00:23:01.669 align:start position:0% I'm going to speak about now is and some 00:23:01.669 --> 00:23:04.030 align:start position:0% I'm going to speak about now is and some of<00:23:02.419> the<00:23:02.600> ideas<00:23:02.900> were<00:23:03.020> widget<00:23:03.260> aerospace<00:23:03.770> which 00:23:04.030 --> 00:23:04.040 align:start position:0% of the ideas were widget aerospace which 00:23:04.040 --> 00:23:08.560 align:start position:0% of the ideas were widget aerospace which is<00:23:04.160> random<00:23:04.460> selection<00:23:04.880> right<00:23:05.419> somehow<00:23:07.570> we 00:23:08.560 --> 00:23:08.570 align:start position:0% is random selection right somehow we 00:23:08.570 --> 00:23:10.299 align:start position:0% is random selection right somehow we think<00:23:08.750> about<00:23:08.809> poaching<00:23:09.049> governance<00:23:09.559> we<00:23:10.160> have 00:23:10.299 --> 00:23:10.309 align:start position:0% think about poaching governance we have 00:23:10.309 --> 00:23:11.710 align:start position:0% think about poaching governance we have to<00:23:10.429> think<00:23:10.730> that<00:23:11.059> we<00:23:11.210> are<00:23:11.330> thinking<00:23:11.570> out 00:23:11.710 --> 00:23:11.720 align:start position:0% to think that we are thinking out 00:23:11.720 --> 00:23:14.080 align:start position:0% to think that we are thinking out governance<00:23:12.200> and<00:23:12.410> humans<00:23:12.890> have<00:23:13.250> to<00:23:13.490> serve 00:23:14.080 --> 00:23:14.090 align:start position:0% governance and humans have to serve 00:23:14.090 --> 00:23:16.090 align:start position:0% governance and humans have to serve governance<00:23:14.480> problems<00:23:14.840> for<00:23:15.100> basically 00:23:16.090 --> 00:23:16.100 align:start position:0% governance problems for basically 00:23:16.100 --> 00:23:21.190 align:start position:0% governance problems for basically centuries<00:23:16.940> and<00:23:17.210> millennia<00:23:19.780> and<00:23:20.780> one<00:23:20.990> of<00:23:21.110> the 00:23:21.190 --> 00:23:21.200 align:start position:0% centuries and millennia and one of the 00:23:21.200 --> 00:23:25.510 align:start position:0% centuries and millennia and one of the key<00:23:21.910> features<00:23:22.910> of<00:23:23.150> early<00:23:23.870> day<00:23:24.200> Republic<00:23:24.980> was 00:23:25.510 --> 00:23:25.520 align:start position:0% key features of early day Republic was 00:23:25.520 --> 00:23:27.760 align:start position:0% key features of early day Republic was that<00:23:26.090> they<00:23:26.240> were<00:23:26.299> based<00:23:26.630> on<00:23:26.780> random<00:23:27.230> selection 00:23:27.760 --> 00:23:27.770 align:start position:0% that they were based on random selection 00:23:27.770 --> 00:23:35.860 align:start position:0% that they were based on random selection of<00:23:27.950> people<00:23:31.030> it<00:23:32.030> is<00:23:32.330> very<00:23:32.390> slow<00:23:32.809> exploding 00:23:35.860 --> 00:23:35.870 align:start position:0% 00:23:35.870 --> 00:23:37.270 align:start position:0% [Music] 00:23:37.270 --> 00:23:37.280 align:start position:0% [Music] 00:23:37.280 --> 00:23:42.110 align:start position:0% [Music] so<00:23:38.280> my<00:23:38.820> background<00:23:41.000> studies<00:23:42.000> economics 00:23:42.110 --> 00:23:42.120 align:start position:0% so my background studies economics 00:23:42.120 --> 00:23:45.070 align:start position:0% so my background studies economics political<00:23:42.810> philosophy<00:23:43.530> then<00:23:43.710> I<00:23:43.800> did<00:23:43.980> a<00:23:44.070> PhD<00:23:44.400> in 00:23:45.070 --> 00:23:45.080 align:start position:0% political philosophy then I did a PhD in 00:23:45.080 --> 00:23:47.090 align:start position:0% political philosophy then I did a PhD in collective<00:23:46.080> intelligence<00:23:46.290> and<00:23:46.740> this<00:23:46.890> is<00:23:47.010> I 00:23:47.090 --> 00:23:47.100 align:start position:0% collective intelligence and this is I 00:23:47.100 --> 00:23:49.240 align:start position:0% collective intelligence and this is I think<00:23:47.130> what<00:23:47.400> brought<00:23:47.730> me<00:23:47.760> to<00:23:48.150> this<00:23:48.600> type<00:23:48.810> of 00:23:49.240 --> 00:23:49.250 align:start position:0% think what brought me to this type of 00:23:49.250 --> 00:23:55.280 align:start position:0% think what brought me to this type of Tommy's<00:23:50.840> so<00:23:51.840> it's<00:23:53.300> the<00:23:54.300> person<00:23:54.600> to<00:23:54.780> the<00:23:54.930> status 00:23:55.280 --> 00:23:55.290 align:start position:0% Tommy's so it's the person to the status 00:23:55.290 --> 00:23:56.780 align:start position:0% Tommy's so it's the person to the status is<00:23:55.440> rationality<00:23:56.100> is<00:23:56.160> always<00:23:56.460> a<00:23:56.490> good<00:23:56.760> thing 00:23:56.780 --> 00:23:56.790 align:start position:0% is rationality is always a good thing 00:23:56.790 --> 00:23:58.730 align:start position:0% is rationality is always a good thing for<00:23:57.120> making<00:23:57.390> decisions<00:23:57.480> I<00:23:57.900> tend<00:23:58.470> to<00:23:58.500> think 00:23:58.730 --> 00:23:58.740 align:start position:0% for making decisions I tend to think 00:23:58.740 --> 00:24:00.650 align:start position:0% for making decisions I tend to think that<00:23:58.970> personality<00:23:59.970> is<00:24:00.000> everything<00:24:00.570> perfect 00:24:00.650 --> 00:24:00.660 align:start position:0% that personality is everything perfect 00:24:00.660 --> 00:24:04.340 align:start position:0% that personality is everything perfect decisions<00:24:01.350> but<00:24:01.950> some<00:24:02.850> type<00:24:03.030> word<00:24:03.240> for<00:24:03.450> reasons 00:24:04.340 --> 00:24:04.350 align:start position:0% decisions but some type word for reasons 00:24:04.350 --> 00:24:07.550 align:start position:0% decisions but some type word for reasons can<00:24:04.500> be<00:24:04.530> very<00:24:04.800> bad<00:24:05.030> with<00:24:06.030> race<00:24:06.210> racism<00:24:06.630> rules 00:24:07.550 --> 00:24:07.560 align:start position:0% can be very bad with race racism rules 00:24:07.560 --> 00:24:10.700 align:start position:0% can be very bad with race racism rules are<00:24:07.710> trying<00:24:07.950> to<00:24:08.450> just<00:24:09.450> move<00:24:10.230> forward<00:24:10.290> from 00:24:10.700 --> 00:24:10.710 align:start position:0% are trying to just move forward from 00:24:10.710 --> 00:24:15.320 align:start position:0% are trying to just move forward from interests<00:24:11.990> as<00:24:12.990> well<00:24:13.710> randomness<00:24:14.490> maze<00:24:14.760> is 00:24:15.320 --> 00:24:15.330 align:start position:0% interests as well randomness maze is 00:24:15.330 --> 00:24:17.870 align:start position:0% interests as well randomness maze is that<00:24:15.510> we<00:24:15.660> have<00:24:15.810> a<00:24:15.840> fullest<00:24:16.110> option<00:24:16.850> the<00:24:17.850> option 00:24:17.870 --> 00:24:17.880 align:start position:0% that we have a fullest option the option 00:24:17.880 --> 00:24:20.030 align:start position:0% that we have a fullest option the option that<00:24:18.210> is<00:24:18.330> going<00:24:18.540> to<00:24:18.630> be<00:24:18.720> chosen<00:24:18.960> he's<00:24:19.890> not 00:24:20.030 --> 00:24:20.040 align:start position:0% that is going to be chosen he's not 00:24:20.040 --> 00:24:21.860 align:start position:0% that is going to be chosen he's not going<00:24:20.250> to<00:24:20.310> be<00:24:20.430> chosen<00:24:20.610> because<00:24:20.790> of<00:24:20.940> reasons<00:24:21.330> to 00:24:21.860 --> 00:24:21.870 align:start position:0% going to be chosen because of reasons to 00:24:21.870 --> 00:24:24.440 align:start position:0% going to be chosen because of reasons to be<00:24:21.900> chosen<00:24:22.170> because<00:24:22.440> of<00:24:22.850> randomness<00:24:23.850> so<00:24:24.060> any 00:24:24.440 --> 00:24:24.450 align:start position:0% be chosen because of randomness so any 00:24:24.450 --> 00:24:28.850 align:start position:0% be chosen because of randomness so any of<00:24:24.570> those<00:24:24.890> can<00:24:25.890> be<00:24:26.330> selected<00:24:27.330> and<00:24:27.480> so<00:24:28.020> the 00:24:28.850 --> 00:24:28.860 align:start position:0% of those can be selected and so the 00:24:28.860 --> 00:24:32.480 align:start position:0% of those can be selected and so the brain<00:24:29.310> what<00:24:29.580> introduces<00:24:29.910> is<00:24:30.660> the<00:24:31.490> apprentice 00:24:32.480 --> 00:24:32.490 align:start position:0% brain what introduces is the apprentice 00:24:32.490 --> 00:24:35.330 align:start position:0% brain what introduces is the apprentice I<00:24:32.720> what<00:24:33.720> it's<00:24:33.870> called<00:24:34.050> a<00:24:34.200> personality<00:24:34.590> at<00:24:35.100> non 00:24:35.330 --> 00:24:35.340 align:start position:0% I what it's called a personality at non 00:24:35.340 --> 00:24:36.980 align:start position:0% I what it's called a personality at non personal<00:24:35.520> decision<00:24:36.060> or<00:24:36.480> in<00:24:36.660> the<00:24:36.750> selection 00:24:36.980 --> 00:24:36.990 align:start position:0% personal decision or in the selection 00:24:36.990 --> 00:24:39.800 align:start position:0% personal decision or in the selection process<00:24:37.910> this<00:24:38.910> means<00:24:39.180> that<00:24:39.300> a<00:24:39.420> lot<00:24:39.450> every 00:24:39.800 --> 00:24:39.810 align:start position:0% process this means that a lot every 00:24:39.810 --> 00:24:43.910 align:start position:0% process this means that a lot every decision<00:24:40.050> is<00:24:40.890> going<00:24:41.040> to<00:24:41.160> be<00:24:42.230> impartial<00:24:43.230> to<00:24:43.830> be 00:24:43.910 --> 00:24:43.920 align:start position:0% decision is going to be impartial to be 00:24:43.920 --> 00:24:48.220 align:start position:0% decision is going to be impartial to be a<00:24:43.950> moral<00:24:44.720> different<00:24:45.720> things<00:24:46.220> that<00:24:47.220> may<00:24:48.150> be 00:24:48.220 --> 00:24:48.230 align:start position:0% a moral different things that may be 00:24:48.230 --> 00:24:52.330 align:start position:0% a moral different things that may be important<00:24:49.230> for<00:24:49.410> for<00:24:50.280> some<00:24:50.490> political<00:24:50.610> systems 00:24:52.330 --> 00:24:52.340 align:start position:0% important for for some political systems 00:24:52.340 --> 00:24:55.670 align:start position:0% important for for some political systems especially<00:24:53.340> when<00:24:54.090> we<00:24:54.690> fear<00:24:54.990> that<00:24:55.140> what 00:24:55.670 --> 00:24:55.680 align:start position:0% especially when we fear that what 00:24:55.680 --> 00:24:57.770 align:start position:0% especially when we fear that what reasons<00:24:56.100> may<00:24:56.340> be<00:24:56.400> used<00:24:56.820> to<00:24:57.180> make<00:24:57.330> a<00:24:57.360> decisions 00:24:57.770 --> 00:24:57.780 align:start position:0% reasons may be used to make a decisions 00:24:57.780 --> 00:24:59.570 align:start position:0% reasons may be used to make a decisions so<00:24:58.560> this<00:24:58.680> is<00:24:58.800> what's<00:24:59.070> called<00:24:59.280> about 00:24:59.570 --> 00:24:59.580 align:start position:0% so this is what's called about 00:24:59.580 --> 00:25:00.350 align:start position:0% so this is what's called about reproducible 00:25:00.350 --> 00:25:00.360 align:start position:0% reproducible 00:25:00.360 --> 00:25:04.030 align:start position:0% reproducible you<00:25:01.080> may<00:25:01.230> want<00:25:01.440> to<00:25:01.500> consider<00:25:01.920> lotteries<00:25:02.600> when 00:25:04.030 --> 00:25:04.040 align:start position:0% you may want to consider lotteries when 00:25:04.040 --> 00:25:07.710 align:start position:0% you may want to consider lotteries when you<00:25:05.040> fear<00:25:05.610> as<00:25:06.030> some<00:25:06.600> pathways<00:25:06.840> from 00:25:07.710 --> 00:25:07.720 align:start position:0% you fear as some pathways from 00:25:07.720 --> 00:25:10.799 align:start position:0% you fear as some pathways from interfere<00:25:08.590> in<00:25:09.129> an<00:25:09.370> additional<00:25:10.240> process<00:25:10.600> right 00:25:10.799 --> 00:25:10.809 align:start position:0% interfere in an additional process right 00:25:10.809 --> 00:25:15.450 align:start position:0% interfere in an additional process right so<00:25:13.440> we<00:25:14.440> spend<00:25:14.740> a<00:25:14.769> lot<00:25:14.799> of<00:25:14.919> time<00:25:15.159> watching 00:25:15.450 --> 00:25:15.460 align:start position:0% so we spend a lot of time watching 00:25:15.460 --> 00:25:17.700 align:start position:0% so we spend a lot of time watching Lawrence<00:25:16.299> debates<00:25:16.600> about<00:25:16.809> what<00:25:17.320> is<00:25:17.470> the<00:25:17.590> best 00:25:17.700 --> 00:25:17.710 align:start position:0% Lawrence debates about what is the best 00:25:17.710 --> 00:25:19.110 align:start position:0% Lawrence debates about what is the best way<00:25:17.830> to<00:25:17.919> create<00:25:18.279> a<00:25:18.370> body<00:25:18.580> system<00:25:19.059> and 00:25:19.110 --> 00:25:19.120 align:start position:0% way to create a body system and 00:25:19.120 --> 00:25:22.440 align:start position:0% way to create a body system and quadratic<00:25:19.720> like<00:25:19.990> it's<00:25:20.919> forming<00:25:21.490> system<00:25:21.759> in 00:25:22.440 --> 00:25:22.450 align:start position:0% quadratic like it's forming system in 00:25:22.450 --> 00:25:23.820 align:start position:0% quadratic like it's forming system in the<00:25:22.570> end<00:25:22.690> it's<00:25:22.809> a<00:25:22.870> question<00:25:23.169> of<00:25:23.230> how<00:25:23.379> we<00:25:23.409> are<00:25:23.740> we 00:25:23.820 --> 00:25:23.830 align:start position:0% the end it's a question of how we are we 00:25:23.830 --> 00:25:27.930 align:start position:0% the end it's a question of how we are we get<00:25:23.919> preferences<00:25:24.750> so<00:25:25.830> molding<00:25:26.830> is<00:25:27.129> a<00:25:27.399> process 00:25:27.930 --> 00:25:27.940 align:start position:0% get preferences so molding is a process 00:25:27.940 --> 00:25:30.360 align:start position:0% get preferences so molding is a process that<00:25:28.450> is<00:25:28.629> based<00:25:28.960> on<00:25:29.350> reasons<00:25:29.799> between<00:25:30.250> the 00:25:30.360 --> 00:25:30.370 align:start position:0% that is based on reasons between the 00:25:30.370 --> 00:25:34.320 align:start position:0% that is based on reasons between the good<00:25:30.610> or<00:25:30.820> bad<00:25:31.080> and<00:25:32.490> lotteries<00:25:33.490> is<00:25:33.850> a<00:25:33.909> process 00:25:34.320 --> 00:25:34.330 align:start position:0% good or bad and lotteries is a process 00:25:34.330 --> 00:25:36.690 align:start position:0% good or bad and lotteries is a process at<00:25:34.629> this<00:25:34.779> pace<00:25:34.990> in<00:25:35.529> other<00:25:35.679> regions<00:25:36.070> right<00:25:36.460> and 00:25:36.690 --> 00:25:36.700 align:start position:0% at this pace in other regions right and 00:25:36.700 --> 00:25:42.389 align:start position:0% at this pace in other regions right and is<00:25:36.840> excluded<00:25:37.840> both<00:25:38.139> good<00:25:38.559> and<00:25:38.860> bad<00:25:39.009> reasons<00:25:41.399> so 00:25:42.389 --> 00:25:42.399 align:start position:0% is excluded both good and bad reasons so 00:25:42.399 --> 00:25:44.700 align:start position:0% is excluded both good and bad reasons so let's<00:25:42.639> see<00:25:42.820> now<00:25:42.850> a<00:25:43.000> bit<00:25:43.360> of<00:25:43.539> some<00:25:44.200> examples<00:25:44.440> of 00:25:44.700 --> 00:25:44.710 align:start position:0% let's see now a bit of some examples of 00:25:44.710 --> 00:25:46.680 align:start position:0% let's see now a bit of some examples of how<00:25:44.889> this<00:25:45.009> has<00:25:45.190> been<00:25:45.220> used<00:25:45.370> in<00:25:45.850> history<00:25:46.450> of 00:25:46.680 --> 00:25:46.690 align:start position:0% how this has been used in history of 00:25:46.690 --> 00:25:51.299 align:start position:0% how this has been used in history of particular<00:25:47.679> systems<00:25:48.600> because<00:25:49.600> you<00:25:49.690> know<00:25:50.309> with 00:25:51.299 --> 00:25:51.309 align:start position:0% particular systems because you know with 00:25:51.309 --> 00:25:53.100 align:start position:0% particular systems because you know with sometimes<00:25:51.940> think<00:25:52.210> that<00:25:52.269> we<00:25:52.539> are<00:25:52.779> inventing 00:25:53.100 --> 00:25:53.110 align:start position:0% sometimes think that we are inventing 00:25:53.110 --> 00:25:56.159 align:start position:0% sometimes think that we are inventing stuff<00:25:53.559> but<00:25:53.860> we<00:25:54.039> are<00:25:54.129> just<00:25:54.460> discovering<00:25:55.419> since 00:25:56.159 --> 00:25:56.169 align:start position:0% stuff but we are just discovering since 00:25:56.169 --> 00:25:58.379 align:start position:0% stuff but we are just discovering since Harvey<00:25:56.980> will<00:25:57.129> work<00:25:57.309> for<00:25:57.820> working<00:25:58.000> for<00:25:58.269> a<00:25:58.299> long 00:25:58.379 --> 00:25:58.389 align:start position:0% Harvey will work for working for a long 00:25:58.389 --> 00:26:08.549 align:start position:0% Harvey will work for working for a long time<00:25:58.600> in<00:25:58.929> different<00:25:59.399> regimes<00:26:06.570> so<00:26:07.570> this<00:26:07.779> guy<00:26:07.929> is 00:26:08.549 --> 00:26:08.559 align:start position:0% time in different regimes so this guy is 00:26:08.559 --> 00:26:10.889 align:start position:0% time in different regimes so this guy is the<00:26:08.620> guy<00:26:09.039> who<00:26:09.279> created<00:26:10.029> but<00:26:10.509> you<00:26:10.750> know 00:26:10.889 --> 00:26:10.899 align:start position:0% the guy who created but you know 00:26:10.899 --> 00:26:13.110 align:start position:0% the guy who created but you know essentially<00:26:11.409> democracy<00:26:12.190> no<00:26:12.549> there<00:26:12.730> was<00:26:12.850> this 00:26:13.110 --> 00:26:13.120 align:start position:0% essentially democracy no there was this 00:26:13.120 --> 00:26:16.830 align:start position:0% essentially democracy no there was this connector<00:26:13.929> called<00:26:14.169> ideas<00:26:14.669> he<00:26:15.669> overthrew<00:26:16.090> he 00:26:16.830 --> 00:26:16.840 align:start position:0% connector called ideas he overthrew he 00:26:16.840 --> 00:26:20.310 align:start position:0% connector called ideas he overthrew he gets<00:26:17.049> retained<00:26:17.320> in<00:26:17.919> a<00:26:18.009> pavilion<00:26:18.549> and<00:26:19.419> then<00:26:19.629> he 00:26:20.310 --> 00:26:20.320 align:start position:0% gets retained in a pavilion and then he 00:26:20.320 --> 00:26:21.600 align:start position:0% gets retained in a pavilion and then he created<00:26:20.679> what<00:26:20.919> we<00:26:21.039> know<00:26:21.190> of<00:26:21.370> the<00:26:21.399> Greek 00:26:21.600 --> 00:26:21.610 align:start position:0% created what we know of the Greek 00:26:21.610 --> 00:26:24.480 align:start position:0% created what we know of the Greek democracy<00:26:21.759> or<00:26:22.240> the<00:26:22.389> assembly<00:26:23.070> and<00:26:24.070> how<00:26:24.309> it 00:26:24.480 --> 00:26:24.490 align:start position:0% democracy or the assembly and how it 00:26:24.490 --> 00:26:26.820 align:start position:0% democracy or the assembly and how it will<00:26:24.580> evolve<00:26:24.700> etc<00:26:25.450> and<00:26:26.049> you<00:26:26.409> know<00:26:26.500> what<00:26:26.679> you 00:26:26.820 --> 00:26:26.830 align:start position:0% will evolve etc and you know what you 00:26:26.830 --> 00:26:29.190 align:start position:0% will evolve etc and you know what you did<00:26:26.980> after<00:26:27.100> doing<00:26:27.399> these<00:26:27.580> reforms<00:26:28.090> of<00:26:28.960> course 00:26:29.190 --> 00:26:29.200 align:start position:0% did after doing these reforms of course 00:26:29.200 --> 00:26:33.090 align:start position:0% did after doing these reforms of course but<00:26:29.559> anyone<00:26:29.980> who<00:26:30.220> disappear<00:26:31.470> so<00:26:32.470> no<00:26:32.620> one<00:26:32.740> know 00:26:33.090 --> 00:26:33.100 align:start position:0% but anyone who disappear so no one know 00:26:33.100 --> 00:26:35.669 align:start position:0% but anyone who disappear so no one know what<00:26:33.549> if<00:26:33.669> you<00:26:33.730> want<00:26:33.940> but<00:26:34.600> the<00:26:34.690> things<00:26:34.870> that<00:26:34.929> he 00:26:35.669 --> 00:26:35.679 align:start position:0% what if you want but the things that he 00:26:35.679 --> 00:26:37.470 align:start position:0% what if you want but the things that he created<00:26:36.070> the<00:26:36.159> system<00:26:36.490> and<00:26:36.730> then<00:26:36.940> left<00:26:37.149> it<00:26:37.330> for 00:26:37.470 --> 00:26:37.480 align:start position:0% created the system and then left it for 00:26:37.480 --> 00:26:41.070 align:start position:0% created the system and then left it for the<00:26:37.539> citizens<00:26:38.049> to<00:26:38.139> vanish<00:26:38.970> so<00:26:39.970> you<00:26:40.779> know<00:26:40.899> who 00:26:41.070 --> 00:26:41.080 align:start position:0% the citizens to vanish so you know who 00:26:41.080 --> 00:26:45.779 align:start position:0% the citizens to vanish so you know who did<00:26:41.590> that<00:26:41.740> by<00:26:41.919> two<00:26:42.419> so<00:26:44.129> this<00:26:45.129> is<00:26:45.190> a<00:26:45.309> basic 00:26:45.779 --> 00:26:45.789 align:start position:0% did that by two so this is a basic 00:26:45.789 --> 00:26:46.880 align:start position:0% did that by two so this is a basic structure<00:26:46.299> of<00:26:46.330> the 00:26:46.880 --> 00:26:46.890 align:start position:0% structure of the 00:26:46.890 --> 00:26:49.640 align:start position:0% structure of the system<00:26:47.900> citizens<00:26:48.900> can<00:26:49.080> participate<00:26:49.230> in<00:26:49.500> the 00:26:49.640 --> 00:26:49.650 align:start position:0% system citizens can participate in the 00:26:49.650 --> 00:26:50.060 align:start position:0% system citizens can participate in the assembly 00:26:50.060 --> 00:26:50.070 align:start position:0% assembly 00:26:50.070 --> 00:26:52.490 align:start position:0% assembly all<00:26:50.430> of<00:26:50.550> them<00:26:50.700> are<00:26:51.030> allowed<00:26:51.270> provided<00:26:52.110> they 00:26:52.490 --> 00:26:52.500 align:start position:0% all of them are allowed provided they 00:26:52.500 --> 00:26:54.380 align:start position:0% all of them are allowed provided they are<00:26:52.620> like<00:26:52.830> of<00:26:52.980> course<00:26:53.010> made<00:26:53.490> and<00:26:53.850> the<00:26:54.060> slaves 00:26:54.380 --> 00:26:54.390 align:start position:0% are like of course made and the slaves 00:26:54.390 --> 00:26:58.220 align:start position:0% are like of course made and the slaves and<00:26:55.490> the<00:26:56.490> assembly<00:26:57.420> is<00:26:57.660> going<00:26:57.870> to<00:26:58.020> choose 00:26:58.220 --> 00:26:58.230 align:start position:0% and the assembly is going to choose 00:26:58.230 --> 00:27:01.880 align:start position:0% and the assembly is going to choose courts<00:26:59.010> Council<00:26:59.850> and<00:27:00.060> magistrate<00:27:00.480> and<00:27:00.890> how 00:27:01.880 --> 00:27:01.890 align:start position:0% courts Council and magistrate and how 00:27:01.890 --> 00:27:04.490 align:start position:0% courts Council and magistrate and how important<00:27:02.370> was<00:27:02.580> random<00:27:03.120> selection<00:27:03.600> in<00:27:04.200> the 00:27:04.490 --> 00:27:04.500 align:start position:0% important was random selection in the 00:27:04.500 --> 00:27:07.970 align:start position:0% important was random selection in the city<00:27:05.540> singing<00:27:06.540> people<00:27:07.230> for<00:27:07.440> public<00:27:07.650> office<00:27:07.800> to 00:27:07.970 --> 00:27:07.980 align:start position:0% city singing people for public office to 00:27:07.980 --> 00:27:10.820 align:start position:0% city singing people for public office to the<00:27:08.730> 10%<00:27:09.090> of<00:27:09.540> all<00:27:09.780> the<00:27:09.840> people<00:27:10.440> who<00:27:10.560> were<00:27:10.680> of 00:27:10.820 --> 00:27:10.830 align:start position:0% the 10% of all the people who were of 00:27:10.830 --> 00:27:14.210 align:start position:0% the 10% of all the people who were of the<00:27:10.860> party<00:27:11.280> copies<00:27:11.700> were<00:27:12.630> chosen<00:27:12.840> by<00:27:13.440> lot<00:27:13.650> and 00:27:14.210 --> 00:27:14.220 align:start position:0% the party copies were chosen by lot and 00:27:14.220 --> 00:27:16.120 align:start position:0% the party copies were chosen by lot and what<00:27:14.400> do<00:27:14.460> you<00:27:14.550> want<00:27:14.730> percent<00:27:15.090> chosen<00:27:15.690> by 00:27:16.120 --> 00:27:16.130 align:start position:0% what do you want percent chosen by 00:27:16.130 --> 00:27:19.820 align:start position:0% what do you want percent chosen by election<00:27:17.130> only<00:27:18.000> those<00:27:18.390> that<00:27:18.630> work<00:27:18.960> the<00:27:19.740> very 00:27:19.820 --> 00:27:19.830 align:start position:0% election only those that work the very 00:27:19.830 --> 00:27:23.770 align:start position:0% election only those that work the very high<00:27:20.040> levels<00:27:20.340> in<00:27:20.400> the<00:27:20.490> army<00:27:20.760> general 00:27:23.770 --> 00:27:23.780 align:start position:0% 00:27:23.780 --> 00:27:34.130 align:start position:0% specialized<00:27:26.300> so<00:27:28.550> so<00:27:29.550> that's<00:27:30.390> my<00:27:32.240> note<00:27:33.240> every 00:27:34.130 --> 00:27:34.140 align:start position:0% specialized so so that's my note every 00:27:34.140 --> 00:27:38.210 align:start position:0% specialized so so that's my note every year<00:27:35.660> was<00:27:36.660> like<00:27:36.990> the<00:27:37.140> executive<00:27:37.380> power<00:27:37.800> was 00:27:38.210 --> 00:27:38.220 align:start position:0% year was like the executive power was 00:27:38.220 --> 00:27:40.580 align:start position:0% year was like the executive power was the<00:27:38.400> charge<00:27:38.610> of<00:27:38.850> the<00:27:39.000> day-to-day<00:27:39.350> running<00:27:40.350> on 00:27:40.580 --> 00:27:40.590 align:start position:0% the charge of the day-to-day running on 00:27:40.590 --> 00:27:43.090 align:start position:0% the charge of the day-to-day running on the<00:27:40.680> police<00:27:40.980> and<00:27:41.610> they<00:27:42.120> had<00:27:42.300> this<00:27:42.390> really 00:27:43.090 --> 00:27:43.100 align:start position:0% the police and they had this really 00:27:43.100 --> 00:27:46.490 align:start position:0% the police and they had this really specific<00:27:44.100> selection<00:27:44.820> process<00:27:45.180> no<00:27:45.600> this<00:27:46.350> is 00:27:46.490 --> 00:27:46.500 align:start position:0% specific selection process no this is 00:27:46.500 --> 00:27:50.720 align:start position:0% specific selection process no this is the<00:27:46.950> napkin<00:27:47.310> is<00:27:48.350> Greek<00:27:49.350> I<00:27:49.590> think<00:27:50.040> open<00:27:50.340> and<00:27:50.520> she 00:27:50.720 --> 00:27:50.730 align:start position:0% the napkin is Greek I think open and she 00:27:50.730 --> 00:27:53.120 align:start position:0% the napkin is Greek I think open and she says<00:27:50.970> not<00:27:51.090> one<00:27:51.300> of<00:27:51.330> these<00:27:51.630> with<00:27:52.560> her<00:27:52.800> name<00:27:53.010> on 00:27:53.120 --> 00:27:53.130 align:start position:0% says not one of these with her name on 00:27:53.130 --> 00:27:57.380 align:start position:0% says not one of these with her name on it<00:27:54.980> and<00:27:55.980> when<00:27:56.700> there<00:27:56.820> was<00:27:56.940> the<00:27:57.060> day<00:27:57.210> of<00:27:57.240> the 00:27:57.380 --> 00:27:57.390 align:start position:0% it and when there was the day of the 00:27:57.390 --> 00:27:59.900 align:start position:0% it and when there was the day of the battery<00:27:58.170> process<00:27:58.560> they<00:27:58.770> want<00:27:59.010> to<00:27:59.220> do<00:27:59.370> lottery 00:27:59.900 --> 00:27:59.910 align:start position:0% battery process they want to do lottery 00:27:59.910 --> 00:28:04.940 align:start position:0% battery process they want to do lottery machines<00:28:00.330> no<00:28:00.930> it's<00:28:01.230> cool<00:28:03.680> I've<00:28:04.680> been<00:28:04.830> talking 00:28:04.940 --> 00:28:04.950 align:start position:0% machines no it's cool I've been talking 00:28:04.950 --> 00:28:07.210 align:start position:0% machines no it's cool I've been talking to<00:28:05.070> Sonny<00:28:05.340> for<00:28:05.430> years<00:28:05.760> about<00:28:06.060> this<00:28:06.210> machine 00:28:07.210 --> 00:28:07.220 align:start position:0% to Sonny for years about this machine 00:28:07.220 --> 00:28:09.530 align:start position:0% to Sonny for years about this machine sign<00:28:08.220> this<00:28:08.370> is<00:28:08.490> a<00:28:08.520> machine<00:28:08.910> and<00:28:08.970> they<00:28:09.180> use<00:28:09.300> for 00:28:09.530 --> 00:28:09.540 align:start position:0% sign this is a machine and they use for 00:28:09.540 --> 00:28:11.240 align:start position:0% sign this is a machine and they use for random<00:28:09.810> selection<00:28:10.200> you<00:28:10.380> want<00:28:10.680> you<00:28:10.800> with<00:28:11.040> your 00:28:11.240 --> 00:28:11.250 align:start position:0% random selection you want you with your 00:28:11.250 --> 00:28:13.430 align:start position:0% random selection you want you with your token<00:28:11.850> it's<00:28:12.210> like<00:28:12.330> a<00:28:12.360> brass<00:28:12.630> plate<00:28:12.930> and<00:28:13.110> decide 00:28:13.430 --> 00:28:13.440 align:start position:0% token it's like a brass plate and decide 00:28:13.440 --> 00:28:16.820 align:start position:0% token it's like a brass plate and decide to<00:28:13.560> put<00:28:13.950> this<00:28:14.070> into<00:28:14.280> a<00:28:14.430> slot<00:28:14.730> machine<00:28:15.510> and<00:28:16.140> then 00:28:16.820 --> 00:28:16.830 align:start position:0% to put this into a slot machine and then 00:28:16.830 --> 00:28:19.670 align:start position:0% to put this into a slot machine and then can<00:28:17.400> some<00:28:17.730> guys<00:28:17.940> on<00:28:18.150> the<00:28:18.270> political<00:28:18.870> process 00:28:19.670 --> 00:28:19.680 align:start position:0% can some guys on the political process 00:28:19.680 --> 00:28:22.780 align:start position:0% can some guys on the political process and<00:28:20.240> good<00:28:21.240> some 00:28:22.780 --> 00:28:22.790 align:start position:0% and good some 00:28:22.790 --> 00:28:26.840 align:start position:0% and good some white<00:28:23.790> and<00:28:24.060> that<00:28:24.810> dies<00:28:25.170> into<00:28:26.010> the<00:28:26.160> shield 00:28:26.840 --> 00:28:26.850 align:start position:0% white and that dies into the shield 00:28:26.850 --> 00:28:31.390 align:start position:0% white and that dies into the shield virtue<00:28:27.330> ethics<00:28:27.690> aside<00:28:28.050> and<00:28:28.410> they<00:28:29.040> have<00:28:29.220> like 00:28:31.390 --> 00:28:31.400 align:start position:0% virtue ethics aside and they have like 00:28:31.400 --> 00:28:34.370 align:start position:0% virtue ethics aside and they have like here<00:28:32.400> is<00:28:32.700> like<00:28:32.880> I<00:28:33.150> co-signed<00:28:33.630> a<00:28:33.900> nice<00:28:34.080> pretty 00:28:34.370 --> 00:28:34.380 align:start position:0% here is like I co-signed a nice pretty 00:28:34.380 --> 00:28:37.520 align:start position:0% here is like I co-signed a nice pretty face<00:28:34.620> guys<00:28:34.860> and<00:28:35.850> if<00:28:35.970> you<00:28:36.000> have<00:28:36.090> on<00:28:36.480> your<00:28:36.750> row<00:28:37.170> of 00:28:37.520 --> 00:28:37.530 align:start position:0% face guys and if you have on your row of 00:28:37.530 --> 00:28:40.400 align:start position:0% face guys and if you have on your row of white<00:28:37.800> eyes<00:28:38.100> you<00:28:38.880> were<00:28:39.000> selected<00:28:39.450> black<00:28:40.050> guys 00:28:40.400 --> 00:28:40.410 align:start position:0% white eyes you were selected black guys 00:28:40.410 --> 00:28:44.600 align:start position:0% white eyes you were selected black guys he<00:28:40.710> went<00:28:40.890> home<00:28:42.140> and<00:28:43.140> is<00:28:43.260> it<00:28:43.380> worth<00:28:43.530> the<00:28:43.610> council 00:28:44.600 --> 00:28:44.610 align:start position:0% he went home and is it worth the council 00:28:44.610 --> 00:28:49.190 align:start position:0% he went home and is it worth the council name<00:28:45.560> away<00:28:46.560> why<00:28:46.920> was<00:28:47.160> this<00:28:47.340> used<00:28:47.870> was<00:28:48.870> this<00:28:49.020> not 00:28:49.190 --> 00:28:49.200 align:start position:0% name away why was this used was this not 00:28:49.200 --> 00:28:51.740 align:start position:0% name away why was this used was this not this<00:28:49.350> way<00:28:49.560> so<00:28:50.100> death<00:28:50.610> in<00:28:50.850> young<00:28:51.000> like 00:28:51.740 --> 00:28:51.750 align:start position:0% this way so death in young like 00:28:51.750 --> 00:28:53.180 align:start position:0% this way so death in young like different<00:28:52.320> families<00:28:52.770> that<00:28:52.800> weren't 00:28:53.180 --> 00:28:53.190 align:start position:0% different families that weren't 00:28:53.190 --> 00:28:56.000 align:start position:0% different families that weren't extravagant<00:28:53.700> for<00:28:53.820> power<00:28:54.080> and<00:28:55.080> they<00:28:55.620> were<00:28:55.710> very 00:28:56.000 --> 00:28:56.010 align:start position:0% extravagant for power and they were very 00:28:56.010 --> 00:28:58.850 align:start position:0% extravagant for power and they were very afraid<00:28:56.490> of<00:28:56.610> one<00:28:57.030> of<00:28:57.120> them<00:28:57.560> concentrating<00:28:58.560> too 00:28:58.850 --> 00:28:58.860 align:start position:0% afraid of one of them concentrating too 00:28:58.860 --> 00:29:02.320 align:start position:0% afraid of one of them concentrating too much<00:28:58.890> power<00:28:59.280> into<00:29:00.150> the<00:29:00.330> police<00:29:00.660> right<00:29:00.900> so 00:29:02.320 --> 00:29:02.330 align:start position:0% much power into the police right so 00:29:02.330 --> 00:29:05.660 align:start position:0% much power into the police right so that's<00:29:03.330> going<00:29:03.570> to<00:29:03.660> do<00:29:03.780> this<00:29:03.930> was<00:29:04.710> okay 00:29:05.660 --> 00:29:05.670 align:start position:0% that's going to do this was okay 00:29:05.670 --> 00:29:08.060 align:start position:0% that's going to do this was okay instead<00:29:06.510> of<00:29:06.600> making<00:29:07.050> elections<00:29:07.620> which<00:29:07.890> can 00:29:08.060 --> 00:29:08.070 align:start position:0% instead of making elections which can 00:29:08.070 --> 00:29:09.740 align:start position:0% instead of making elections which can lead<00:29:08.220> to<00:29:08.250> patronage<00:29:08.640> or<00:29:09.120> can<00:29:09.360> lead<00:29:09.540> to 00:29:09.740 --> 00:29:09.750 align:start position:0% lead to patronage or can lead to 00:29:09.750 --> 00:29:10.430 align:start position:0% lead to patronage or can lead to pollution 00:29:10.430 --> 00:29:10.440 align:start position:0% pollution 00:29:10.440 --> 00:29:14.150 align:start position:0% pollution it's<00:29:10.980> just<00:29:11.340> selected<00:29:12.180> randomly<00:29:12.570> and<00:29:13.350> they<00:29:14.010> use 00:29:14.150 --> 00:29:14.160 align:start position:0% it's just selected randomly and they use 00:29:14.160 --> 00:29:18.710 align:start position:0% it's just selected randomly and they use metal<00:29:14.940> I<00:29:16.040> don't<00:29:17.040> know<00:29:17.130> about<00:29:17.190> that<00:29:17.480> if<00:29:18.480> there 00:29:18.710 --> 00:29:18.720 align:start position:0% metal I don't know about that if there 00:29:18.720 --> 00:29:23.150 align:start position:0% metal I don't know about that if there is<00:29:18.840> some<00:29:19.820> even<00:29:20.820> so<00:29:21.150> Ronald<00:29:21.720> Cotton's<00:29:22.620> can<00:29:22.830> be 00:29:23.150 --> 00:29:23.160 align:start position:0% is some even so Ronald Cotton's can be 00:29:23.160 --> 00:29:25.400 align:start position:0% is some even so Ronald Cotton's can be in<00:29:23.310> favor<00:29:23.490> of<00:29:23.550> someone<00:29:23.850> it's<00:29:24.690> changed<00:29:25.050> every 00:29:25.400 --> 00:29:25.410 align:start position:0% in favor of someone it's changed every 00:29:25.410 --> 00:29:28.100 align:start position:0% in favor of someone it's changed every year<00:29:25.610> so<00:29:26.610> the<00:29:27.150> world<00:29:27.390> works<00:29:27.570> rotate<00:29:27.870> this<00:29:27.960> or 00:29:28.100 --> 00:29:28.110 align:start position:0% year so the world works rotate this or 00:29:28.110 --> 00:29:30.140 align:start position:0% year so the world works rotate this or any<00:29:28.260> potential<00:29:28.950> gain<00:29:29.310> that<00:29:29.460> will<00:29:29.640> be<00:29:29.730> done<00:29:29.910> in 00:29:30.140 --> 00:29:30.150 align:start position:0% any potential gain that will be done in 00:29:30.150 --> 00:29:33.230 align:start position:0% any potential gain that will be done in a<00:29:30.420> sharpen<00:29:30.780> band<00:29:30.990> some<00:29:31.410> very<00:29:31.710> lucky<00:29:32.240> random 00:29:33.230 --> 00:29:33.240 align:start position:0% a sharpen band some very lucky random 00:29:33.240 --> 00:29:36.080 align:start position:0% a sharpen band some very lucky random selection<00:29:33.920> was<00:29:34.920> then<00:29:35.190> destroyed<00:29:35.730> the<00:29:35.910> next 00:29:36.080 --> 00:29:36.090 align:start position:0% selection was then destroyed the next 00:29:36.090 --> 00:29:39.280 align:start position:0% selection was then destroyed the next year<00:29:36.210> when<00:29:36.600> it<00:29:36.960> changed<00:29:37.410> all<00:29:37.590> over<00:29:37.740> again 00:29:39.280 --> 00:29:39.290 align:start position:0% year when it changed all over again 00:29:39.290 --> 00:29:42.710 align:start position:0% year when it changed all over again so<00:29:40.490> the<00:29:41.490> two<00:29:41.700> keys<00:29:42.060> of<00:29:42.090> the<00:29:42.420> Greek<00:29:42.570> democracy 00:29:42.710 --> 00:29:42.720 align:start position:0% so the two keys of the Greek democracy 00:29:42.720 --> 00:29:47.080 align:start position:0% so the two keys of the Greek democracy were<00:29:43.620> are<00:29:44.370> no<00:29:44.490> selection<00:29:44.760> in<00:29:45.390> rotation 00:29:47.080 --> 00:29:47.090 align:start position:0% were are no selection in rotation 00:29:47.090 --> 00:29:49.280 align:start position:0% were are no selection in rotation if<00:29:48.090> you<00:29:48.180> want<00:29:48.330> to<00:29:48.390> learn<00:29:48.480> more<00:29:48.720> about<00:29:48.870> how<00:29:49.170> this 00:29:49.280 --> 00:29:49.290 align:start position:0% if you want to learn more about how this 00:29:49.290 --> 00:29:51.260 align:start position:0% if you want to learn more about how this process<00:29:49.530> work<00:29:49.800> and<00:29:50.100> every<00:29:50.640> command<00:29:50.940> D<00:29:51.060> status 00:29:51.260 --> 00:29:51.270 align:start position:0% process work and every command D status 00:29:51.270 --> 00:29:55.730 align:start position:0% process work and every command D status in<00:29:51.540> a<00:29:51.630> book<00:29:51.810> about<00:29:53.510> the<00:29:54.510> atom<00:29:54.870> is<00:29:55.410> in<00:29:55.470> the 00:29:55.730 --> 00:29:55.740 align:start position:0% in a book about the atom is in the 00:29:55.740 --> 00:29:58.880 align:start position:0% in a book about the atom is in the classical<00:29:56.280> news<00:29:56.400> is<00:29:56.610> from<00:29:56.730> the<00:29:56.850> 1930s<00:29:57.570> and<00:29:57.890> if 00:29:58.880 --> 00:29:58.890 align:start position:0% classical news is from the 1930s and if 00:29:58.890 --> 00:30:00.440 align:start position:0% classical news is from the 1930s and if you<00:29:58.950> want<00:29:59.100> to<00:29:59.160> learn<00:29:59.280> more<00:29:59.490> about<00:29:59.550> how<00:29:59.940> the 00:30:00.440 --> 00:30:00.450 align:start position:0% you want to learn more about how the 00:30:00.450 --> 00:30:03.620 align:start position:0% you want to learn more about how the political<00:30:00.900> system<00:30:01.380> work<00:30:01.620> in<00:30:01.890> Greece<00:30:02.630> this 00:30:03.620 --> 00:30:03.630 align:start position:0% political system work in Greece this 00:30:03.630 --> 00:30:05.780 align:start position:0% political system work in Greece this great<00:30:04.170> book<00:30:04.320> by<00:30:04.500> Josiah<00:30:04.830> over<00:30:05.190> personal 00:30:05.780 --> 00:30:05.790 align:start position:0% great book by Josiah over personal 00:30:05.790 --> 00:30:08.030 align:start position:0% great book by Josiah over personal knowledge<00:30:05.970> of<00:30:06.390> everything<00:30:07.200> and<00:30:07.320> all<00:30:07.560> of<00:30:07.950> the 00:30:08.030 --> 00:30:08.040 align:start position:0% knowledge of everything and all of the 00:30:08.040 --> 00:30:10.790 align:start position:0% knowledge of everything and all of the things<00:30:08.250> that<00:30:08.310> we<00:30:08.580> are<00:30:08.610> discussing<00:30:09.800> dodging 00:30:10.790 --> 00:30:10.800 align:start position:0% things that we are discussing dodging 00:30:10.800 --> 00:30:15.710 align:start position:0% things that we are discussing dodging ordnance<00:30:11.190> know<00:30:11.430> this<00:30:11.610> guy's<00:30:11.820> new<00:30:12.210> already<00:30:14.720> ok 00:30:15.710 --> 00:30:15.720 align:start position:0% ordnance know this guy's new already ok 00:30:15.720 --> 00:30:19.870 align:start position:0% ordnance know this guy's new already ok let's<00:30:15.870> move<00:30:15.990> forward<00:30:16.520> some<00:30:17.520> time 00:30:19.870 --> 00:30:19.880 align:start position:0% let's move forward some time 00:30:19.880 --> 00:30:24.860 align:start position:0% let's move forward some time another<00:30:20.880> important<00:30:22.820> city<00:30:23.820> where<00:30:24.420> they<00:30:24.600> lost 00:30:24.860 --> 00:30:24.870 align:start position:0% another important city where they lost 00:30:24.870 --> 00:30:28.160 align:start position:0% another important city where they lost the<00:30:25.500> Hydra<00:30:26.040> use<00:30:26.190> of<00:30:26.490> repetition<00:30:26.760> was<00:30:27.300> was 00:30:28.160 --> 00:30:28.170 align:start position:0% the Hydra use of repetition was was 00:30:28.170 --> 00:30:30.820 align:start position:0% the Hydra use of repetition was was Rhaenys<00:30:28.520> no<00:30:29.520> Venice<00:30:29.760> was<00:30:29.880> a<00:30:29.910> trading<00:30:30.300> empire 00:30:30.820 --> 00:30:30.830 align:start position:0% Rhaenys no Venice was a trading empire 00:30:30.830 --> 00:30:33.710 align:start position:0% Rhaenys no Venice was a trading empire it<00:30:31.830> was<00:30:31.860> known<00:30:32.280> as<00:30:32.460> the<00:30:32.610> Republic<00:30:33.210> asking<00:30:33.570> any 00:30:33.710 --> 00:30:33.720 align:start position:0% it was known as the Republic asking any 00:30:33.720 --> 00:30:34.280 align:start position:0% it was known as the Republic asking any seaman 00:30:34.280 --> 00:30:34.290 align:start position:0% seaman 00:30:34.290 --> 00:30:37.100 align:start position:0% seaman why<00:30:34.590> is<00:30:34.650> that<00:30:34.770> because<00:30:35.460> the<00:30:35.880> mostly<00:30:36.480> Republic 00:30:37.100 --> 00:30:37.110 align:start position:0% why is that because the mostly Republic 00:30:37.110 --> 00:30:39.890 align:start position:0% why is that because the mostly Republic was<00:30:37.770> intended<00:30:38.370> to<00:30:38.400> give<00:30:38.700> all<00:30:38.970> the<00:30:39.090> merchants 00:30:39.890 --> 00:30:39.900 align:start position:0% was intended to give all the merchants 00:30:39.900 --> 00:30:41.360 align:start position:0% was intended to give all the merchants of<00:30:39.960> the<00:30:40.020> Middle<00:30:40.350> Ages<00:30:40.410> element<00:30:41.160> of<00:30:41.280> the 00:30:41.360 --> 00:30:41.370 align:start position:0% of the Middle Ages element of the 00:30:41.370 --> 00:30:44.990 align:start position:0% of the Middle Ages element of the Renaissance<00:30:41.960> the<00:30:43.220> confidence<00:30:44.220> that<00:30:44.280> rule<00:30:44.880> of 00:30:44.990 --> 00:30:45.000 align:start position:0% Renaissance the confidence that rule of 00:30:45.000 --> 00:30:47.690 align:start position:0% Renaissance the confidence that rule of law<00:30:45.180> was<00:30:46.050> enacted<00:30:46.740> there<00:30:47.100> right<00:30:47.340> number 00:30:47.690 --> 00:30:47.700 align:start position:0% law was enacted there right number 00:30:47.700 --> 00:30:51.230 align:start position:0% law was enacted there right number Shylock's<00:30:48.660> Merchant<00:30:49.470> of<00:30:49.530> Venice<00:30:50.120> there<00:30:51.120> is<00:30:51.210> a 00:30:51.230 --> 00:30:51.240 align:start position:0% Shylock's Merchant of Venice there is a 00:30:51.240 --> 00:30:54.530 align:start position:0% Shylock's Merchant of Venice there is a trial<00:30:51.690> scene<00:30:52.230> and<00:30:52.500> in<00:30:52.770> the<00:30:52.860> try<00:30:53.010> the<00:30:53.070> scene<00:30:53.540> the 00:30:54.530 --> 00:30:54.540 align:start position:0% trial scene and in the try the scene the 00:30:54.540 --> 00:30:57.290 align:start position:0% trial scene and in the try the scene the judge<00:30:55.200> says<00:30:55.500> okay<00:30:55.830> well<00:30:56.670> I<00:30:56.760> know<00:30:56.820> that<00:30:56.970> this 00:30:57.290 --> 00:30:57.300 align:start position:0% judge says okay well I know that this 00:30:57.300 --> 00:31:00.470 align:start position:0% judge says okay well I know that this contract<00:30:57.690> is<00:30:58.140> not<00:30:58.170> call<00:30:58.560> upon<00:30:58.680> the<00:30:59.130> flesh<00:30:59.480> but 00:31:00.470 --> 00:31:00.480 align:start position:0% contract is not call upon the flesh but 00:31:00.480 --> 00:31:02.720 align:start position:0% contract is not call upon the flesh but a<00:31:00.660> contract<00:31:01.020> is<00:31:01.080> a<00:31:01.170> contract<00:31:01.370> and<00:31:02.370> if<00:31:02.460> we<00:31:02.580> don't 00:31:02.720 --> 00:31:02.730 align:start position:0% a contract is a contract and if we don't 00:31:02.730 --> 00:31:04.670 align:start position:0% a contract is a contract and if we don't comply<00:31:02.970> with<00:31:03.000> contracts<00:31:03.540> no<00:31:04.170> one<00:31:04.290> is<00:31:04.410> going<00:31:04.590> to 00:31:04.670 --> 00:31:04.680 align:start position:0% comply with contracts no one is going to 00:31:04.680 --> 00:31:08.600 align:start position:0% comply with contracts no one is going to come<00:31:04.890> to<00:31:05.010> Venice<00:31:05.310> to<00:31:05.820> trade<00:31:06.240> it<00:31:06.360> right<00:31:07.130> so<00:31:08.130> the 00:31:08.600 --> 00:31:08.610 align:start position:0% come to Venice to trade it right so the 00:31:08.610 --> 00:31:10.540 align:start position:0% come to Venice to trade it right so the things<00:31:08.790> that<00:31:08.970> this<00:31:09.090> image<00:31:09.690> very<00:31:10.050> some<00:31:10.440> very 00:31:10.540 --> 00:31:10.550 align:start position:0% things that this image very some very 00:31:10.550 --> 00:31:12.830 align:start position:0% things that this image very some very tricky<00:31:11.550> offshore<00:31:12.060> place<00:31:12.270> I'm<00:31:12.480> very<00:31:12.660> that 00:31:12.830 --> 00:31:12.840 align:start position:0% tricky offshore place I'm very that 00:31:12.840 --> 00:31:17.500 align:start position:0% tricky offshore place I'm very that spirit<00:31:13.440> was<00:31:14.100> built<00:31:15.030> on<00:31:15.180> the<00:31:15.360> second<00:31:15.900> order 00:31:17.500 --> 00:31:17.510 align:start position:0% spirit was built on the second order 00:31:17.510 --> 00:31:21.290 align:start position:0% spirit was built on the second order because<00:31:18.510> this<00:31:19.290> social<00:31:19.890> structure<00:31:20.310> were<00:31:20.850> again 00:31:21.290 --> 00:31:21.300 align:start position:0% because this social structure were again 00:31:21.300 --> 00:31:24.260 align:start position:0% because this social structure were again of<00:31:22.050> some<00:31:22.290> families<00:31:22.710> that<00:31:22.980> were<00:31:23.910> struggling 00:31:24.260 --> 00:31:24.270 align:start position:0% of some families that were struggling 00:31:24.270 --> 00:31:26.960 align:start position:0% of some families that were struggling for<00:31:24.480> power<00:31:25.010> and<00:31:26.010> this<00:31:26.130> families<00:31:26.550> you<00:31:26.850> know 00:31:26.960 --> 00:31:26.970 align:start position:0% for power and this families you know 00:31:26.970 --> 00:31:29.120 align:start position:0% for power and this families you know what<00:31:27.150> they<00:31:27.270> have<00:31:27.420> private<00:31:28.080> armies<00:31:28.410> and<00:31:28.620> they 00:31:29.120 --> 00:31:29.130 align:start position:0% what they have private armies and they 00:31:29.130 --> 00:31:32.240 align:start position:0% what they have private armies and they hated<00:31:29.460> each<00:31:29.700> other<00:31:29.970> so<00:31:30.960> that<00:31:31.530> they<00:31:31.920> had<00:31:32.100> to 00:31:32.240 --> 00:31:32.250 align:start position:0% hated each other so that they had to 00:31:32.250 --> 00:31:35.090 align:start position:0% hated each other so that they had to find<00:31:32.430> a<00:31:32.550> way<00:31:32.630> for<00:31:33.630> this<00:31:33.810> guy<00:31:33.960> to<00:31:34.290> like<00:31:34.530> coexist 00:31:35.090 --> 00:31:35.100 align:start position:0% find a way for this guy to like coexist 00:31:35.100 --> 00:31:37.730 align:start position:0% find a way for this guy to like coexist in<00:31:35.310> peace<00:31:35.430> in<00:31:36.030> Venice<00:31:36.600> and<00:31:36.960> preserve<00:31:37.440> the<00:31:37.620> rule 00:31:37.730 --> 00:31:37.740 align:start position:0% in peace in Venice and preserve the rule 00:31:37.740 --> 00:31:39.230 align:start position:0% in peace in Venice and preserve the rule of<00:31:37.860> law<00:31:38.040> that<00:31:38.220> was<00:31:38.370> very<00:31:38.550> important<00:31:38.970> for<00:31:39.120> all 00:31:39.230 --> 00:31:39.240 align:start position:0% of law that was very important for all 00:31:39.240 --> 00:31:44.720 align:start position:0% of law that was very important for all of<00:31:39.270> them<00:31:39.540> to<00:31:39.990> prosper<00:31:40.230> from<00:31:40.830> trade<00:31:43.700> you<00:31:44.700> know 00:31:44.720 --> 00:31:44.730 align:start position:0% of them to prosper from trade you know 00:31:44.730 --> 00:31:56.350 align:start position:0% of them to prosper from trade you know this<00:31:45.030> painting<00:31:49.220> and<00:31:50.220> what<00:31:50.490> is<00:31:50.610> this<00:31:50.730> building 00:31:56.350 --> 00:31:56.360 align:start position:0% 00:31:56.360 --> 00:31:59.300 align:start position:0% and<00:31:57.360> who<00:31:58.050> put<00:31:58.920> it<00:31:59.040> there 00:31:59.300 --> 00:31:59.310 align:start position:0% and who put it there 00:31:59.310 --> 00:32:06.460 align:start position:0% and who put it there scores<00:32:00.150> George 00:32:06.460 --> 00:32:06.470 align:start position:0% 00:32:06.470 --> 00:32:09.409 align:start position:0% it<00:32:07.470> was<00:32:07.649> the<00:32:08.129> president<00:32:08.669> of<00:32:08.850> the<00:32:08.909> Venetian 00:32:09.409 --> 00:32:09.419 align:start position:0% it was the president of the Venetian 00:32:09.419 --> 00:32:12.409 align:start position:0% it was the president of the Venetian Republic<00:32:09.450> and<00:32:10.460> the<00:32:11.460> interesting<00:32:12.149> thing<00:32:12.389> about 00:32:12.409 --> 00:32:12.419 align:start position:0% Republic and the interesting thing about 00:32:12.419 --> 00:32:15.289 align:start position:0% Republic and the interesting thing about the<00:32:12.749> doors<00:32:12.960> is<00:32:13.230> that<00:32:14.039> most<00:32:14.340> of<00:32:14.549> the<00:32:14.730> political 00:32:15.289 --> 00:32:15.299 align:start position:0% the doors is that most of the political 00:32:15.299 --> 00:32:17.299 align:start position:0% the doors is that most of the political positions<00:32:15.929> most<00:32:16.590> of<00:32:16.679> the<00:32:16.799> office<00:32:17.100> were 00:32:17.299 --> 00:32:17.309 align:start position:0% positions most of the office were 00:32:17.309 --> 00:32:20.029 align:start position:0% positions most of the office were selected<00:32:18.090> by<00:32:18.149> not<00:32:18.389> events<00:32:18.869> but<00:32:19.649> the<00:32:19.769> Doge 00:32:20.029 --> 00:32:20.039 align:start position:0% selected by not events but the Doge 00:32:20.039 --> 00:32:23.499 align:start position:0% selected by not events but the Doge selection<00:32:20.490> process<00:32:20.879> was<00:32:21.179> very<00:32:21.629> specific 00:32:23.499 --> 00:32:23.509 align:start position:0% selection process was very specific 00:32:23.509 --> 00:32:27.200 align:start position:0% selection process was very specific failure<00:32:24.509> in<00:32:24.690> the<00:32:24.809> office<00:32:25.139> so<00:32:25.529> this<00:32:25.679> is<00:32:25.799> how<00:32:26.210> it 00:32:27.200 --> 00:32:27.210 align:start position:0% failure in the office so this is how it 00:32:27.210 --> 00:32:29.919 align:start position:0% failure in the office so this is how it is<00:32:27.330> problem<00:32:27.690> that<00:32:27.869> donkeys<00:32:28.110> are<00:32:28.499> like<00:32:28.769> a 00:32:29.919 --> 00:32:29.929 align:start position:0% is problem that donkeys are like a 00:32:29.929 --> 00:32:32.619 align:start position:0% is problem that donkeys are like a blueprint<00:32:30.929> for<00:32:31.049> how<00:32:31.230> you<00:32:31.289> select<00:32:31.619> the<00:32:31.710> door 00:32:32.619 --> 00:32:32.629 align:start position:0% blueprint for how you select the door 00:32:32.629 --> 00:32:36.739 align:start position:0% blueprint for how you select the door I'm<00:32:33.629> certain<00:32:34.519> the<00:32:35.519> conceit<00:32:35.850> of<00:32:35.940> Angie<00:32:36.360> this<00:32:36.690> is 00:32:36.739 --> 00:32:36.749 align:start position:0% I'm certain the conceit of Angie this is 00:32:36.749 --> 00:32:38.720 align:start position:0% I'm certain the conceit of Angie this is harboring<00:32:37.169> 1000<00:32:37.830> people<00:32:38.070> upon<00:32:38.429> the 00:32:38.720 --> 00:32:38.730 align:start position:0% harboring 1000 people upon the 00:32:38.730 --> 00:32:41.359 align:start position:0% harboring 1000 people upon the patricians<00:32:39.259> participate<00:32:40.259> here<00:32:40.529> was<00:32:41.190> the 00:32:41.359 --> 00:32:41.369 align:start position:0% patricians participate here was the 00:32:41.369 --> 00:32:45.529 align:start position:0% patricians participate here was the parasitic<00:32:41.730> alley<00:32:42.029> and<00:32:43.019> then<00:32:43.639> you<00:32:44.639> have<00:32:44.789> table 00:32:45.529 --> 00:32:45.539 align:start position:0% parasitic alley and then you have table 00:32:45.539 --> 00:32:48.169 align:start position:0% parasitic alley and then you have table selection<00:32:46.019> of<00:32:46.230> all<00:32:46.409> the<00:32:46.529> thousand<00:32:47.279> people<00:32:47.399> 30 00:32:48.169 --> 00:32:48.179 align:start position:0% selection of all the thousand people 30 00:32:48.179 --> 00:32:51.049 align:start position:0% selection of all the thousand people 30 members<00:32:48.419> selected<00:32:48.960> there<00:32:49.169> and<00:32:50.039> this<00:32:50.460> 30<00:32:50.789> guys 00:32:51.049 --> 00:32:51.059 align:start position:0% members selected there and this 30 guys 00:32:51.059 --> 00:32:53.480 align:start position:0% members selected there and this 30 guys went<00:32:51.360> to<00:32:51.389> a<00:32:51.480> different<00:32:51.629> room<00:32:52.019> and<00:32:52.369> draw<00:32:53.369> again 00:32:53.480 --> 00:32:53.490 align:start position:0% went to a different room and draw again 00:32:53.490 --> 00:32:57.590 align:start position:0% went to a different room and draw again by<00:32:54.029> lot<00:32:54.269> only<00:32:54.779> nine<00:32:54.990> of<00:32:55.019> them<00:32:56.119> so<00:32:57.119> this<00:32:57.330> nine 00:32:57.590 --> 00:32:57.600 align:start position:0% by lot only nine of them so this nine 00:32:57.600 --> 00:33:01.430 align:start position:0% by lot only nine of them so this nine then<00:32:58.409> went<00:32:58.950> on<00:32:59.190> to<00:32:59.220> 14<00:32:59.850> nominate<00:33:00.600> 40<00:33:01.289> members 00:33:01.430 --> 00:33:01.440 align:start position:0% then went on to 14 nominate 40 members 00:33:01.440 --> 00:33:04.549 align:start position:0% then went on to 14 nominate 40 members out<00:33:01.799> of<00:33:01.830> all<00:33:02.129> the<00:33:02.249> 1000<00:33:02.970> members<00:33:03.149> and<00:33:03.659> the 00:33:04.549 --> 00:33:04.559 align:start position:0% out of all the 1000 members and the 00:33:04.559 --> 00:33:07.820 align:start position:0% out of all the 1000 members and the reader<00:33:04.740> listen<00:33:05.190> when<00:33:05.340> most<00:33:05.580> at<00:33:05.789> ease<00:33:06.649> so<00:33:07.649> these 00:33:07.820 --> 00:33:07.830 align:start position:0% reader listen when most at ease so these 00:33:07.830 --> 00:33:10.009 align:start position:0% reader listen when most at ease so these 30<00:33:08.129> members<00:33:08.399> they<00:33:09.119> went<00:33:09.389> a<00:33:09.480> different<00:33:09.600> room 00:33:10.009 --> 00:33:10.019 align:start position:0% 30 members they went a different room 00:33:10.019 --> 00:33:12.230 align:start position:0% 30 members they went a different room and<00:33:10.470> then<00:33:10.679> they<00:33:10.830> selected<00:33:11.460> by<00:33:11.549> God<00:33:11.580> to<00:33:12.149> add 00:33:12.230 --> 00:33:12.240 align:start position:0% and then they selected by God to add 00:33:12.240 --> 00:33:14.779 align:start position:0% and then they selected by God to add members<00:33:12.659> writing<00:33:13.259> and<00:33:13.950> these<00:33:14.190> club<00:33:14.429> members 00:33:14.779 --> 00:33:14.789 align:start position:0% members writing and these club members 00:33:14.789 --> 00:33:19.249 align:start position:0% members writing and these club members do<00:33:15.059> you<00:33:15.149> think<00:33:15.299> it<00:33:15.389> ends<00:33:15.539> here<00:33:17.929> selected<00:33:18.929> so 00:33:19.249 --> 00:33:19.259 align:start position:0% do you think it ends here selected so 00:33:19.259 --> 00:33:21.499 align:start position:0% do you think it ends here selected so defined<00:33:19.590> member<00:33:19.919> faculty<00:33:20.519> and<00:33:21.029> you<00:33:21.419> know 00:33:21.499 --> 00:33:21.509 align:start position:0% defined member faculty and you know 00:33:21.509 --> 00:33:24.049 align:start position:0% defined member faculty and you know disenfranchised<00:33:22.499> in<00:33:23.029> scintillated<00:33:24.029> nine 00:33:24.049 --> 00:33:24.059 align:start position:0% disenfranchised in scintillated nine 00:33:24.059 --> 00:33:26.930 align:start position:0% disenfranchised in scintillated nine members<00:33:24.539> up<00:33:24.659> to<00:33:24.779> 25<00:33:25.350> very<00:33:25.679> loud<00:33:25.889> and<00:33:26.730> these 00:33:26.930 --> 00:33:26.940 align:start position:0% members up to 25 very loud and these 00:33:26.940 --> 00:33:29.899 align:start position:0% members up to 25 very loud and these nine<00:33:27.149> members<00:33:27.570> then<00:33:28.080> nominated<00:33:28.919> 45<00:33:29.369> member<00:33:29.730> by 00:33:29.899 --> 00:33:29.909 align:start position:0% nine members then nominated 45 member by 00:33:29.909 --> 00:33:33.859 align:start position:0% nine members then nominated 45 member by faulty<00:33:30.330> and<00:33:31.009> this<00:33:32.009> 45<00:33:32.429> members<00:33:32.610> through<00:33:33.149> 11<00:33:33.779> of 00:33:33.859 --> 00:33:33.869 align:start position:0% faulty and this 45 members through 11 of 00:33:33.869 --> 00:33:36.409 align:start position:0% faulty and this 45 members through 11 of them<00:33:34.049> by<00:33:34.409> that<00:33:34.679> and<00:33:35.369> this<00:33:35.519> 11th<00:33:35.970> book<00:33:36.059> or<00:33:36.299> the 00:33:36.409 --> 00:33:36.419 align:start position:0% them by that and this 11th book or the 00:33:36.419 --> 00:33:40.340 align:start position:0% them by that and this 11th book or the undici<00:33:36.720> and<00:33:37.230> the<00:33:37.379> only<00:33:37.529> chief<00:33:38.389> nominated<00:33:39.389> 5<00:33:40.169> up 00:33:40.340 --> 00:33:40.350 align:start position:0% undici and the only chief nominated 5 up 00:33:40.350 --> 00:33:42.649 align:start position:0% undici and the only chief nominated 5 up in<00:33:40.499> 41<00:33:40.860> members<00:33:41.249> and<00:33:41.789> the<00:33:41.879> 14<00:33:42.119> members<00:33:42.360> know 00:33:42.649 --> 00:33:42.659 align:start position:0% in 41 members and the 14 members know 00:33:42.659 --> 00:33:45.790 align:start position:0% in 41 members and the 14 members know what<00:33:42.779> they<00:33:42.869> did 00:33:45.790 --> 00:33:45.800 align:start position:0% 00:33:45.800 --> 00:33:54.230 align:start position:0% [Music] 00:33:54.230 --> 00:33:54.240 align:start position:0% 00:33:54.240 --> 00:33:59.520 align:start position:0% process<00:33:57.780> recovery<00:33:58.780> companies<00:33:59.230> to<00:33:59.380> make<00:33:59.500> sure 00:33:59.520 --> 00:33:59.530 align:start position:0% process recovery companies to make sure 00:33:59.530 --> 00:34:01.650 align:start position:0% process recovery companies to make sure that<00:34:00.220> no<00:34:00.400> one<00:34:00.580> would<00:34:00.820> dump<00:34:01.090> her<00:34:01.270> from<00:34:01.570> the 00:34:01.650 --> 00:34:01.660 align:start position:0% that no one would dump her from the 00:34:01.660 --> 00:34:05.700 align:start position:0% that no one would dump her from the process<00:34:02.050> right<00:34:04.020> there<00:34:05.020> was<00:34:05.140> like<00:34:05.260> a<00:34:05.320> shuffling 00:34:05.700 --> 00:34:05.710 align:start position:0% process right there was like a shuffling 00:34:05.710 --> 00:34:09.690 align:start position:0% process right there was like a shuffling machine<00:34:05.860> of<00:34:06.160> people<00:34:06.670> right<00:34:06.820> you<00:34:06.910> know<00:34:07.200> and<00:34:08.700> it 00:34:09.690 --> 00:34:09.700 align:start position:0% machine of people right you know and it 00:34:09.700 --> 00:34:12.870 align:start position:0% machine of people right you know and it probably<00:34:10.179> happened<00:34:10.630> in<00:34:10.929> Venice<00:34:11.320> was<00:34:11.950> that<00:34:12.400> you 00:34:12.870 --> 00:34:12.880 align:start position:0% probably happened in Venice was that you 00:34:12.880 --> 00:34:14.400 align:start position:0% probably happened in Venice was that you don't<00:34:13.060> want<00:34:13.210> me<00:34:13.300> to<00:34:13.330> run<00:34:13.630> for<00:34:13.780> office<00:34:13.840> what 00:34:14.400 --> 00:34:14.410 align:start position:0% don't want me to run for office what 00:34:14.410 --> 00:34:20.970 align:start position:0% don't want me to run for office what they<00:34:14.530> often<00:34:14.679> say<00:34:15.190> man<00:34:15.730> I 00:34:20.970 --> 00:34:20.980 align:start position:0% 00:34:20.980 --> 00:34:23.520 align:start position:0% this<00:34:21.490> made<00:34:21.700> politics<00:34:22.270> another<00:34:23.110> perfect 00:34:23.520 --> 00:34:23.530 align:start position:0% this made politics another perfect 00:34:23.530 --> 00:34:25.980 align:start position:0% this made politics another perfect career<00:34:23.830> for<00:34:23.919> people<00:34:24.100> because<00:34:24.700> you<00:34:25.660> could<00:34:25.840> do 00:34:25.980 --> 00:34:25.990 align:start position:0% career for people because you could do 00:34:25.990 --> 00:34:28.470 align:start position:0% career for people because you could do nothing<00:34:26.380> to<00:34:26.590> become<00:34:26.980> the<00:34:27.100> daughter<00:34:27.340> it<00:34:28.150> was<00:34:28.240> so 00:34:28.470 --> 00:34:28.480 align:start position:0% nothing to become the daughter it was so 00:34:28.480 --> 00:34:30.990 align:start position:0% nothing to become the daughter it was so random<00:34:28.980> and<00:34:29.980> you<00:34:30.190> could<00:34:30.370> not<00:34:30.580> like<00:34:30.760> try<00:34:30.970> to 00:34:30.990 --> 00:34:31.000 align:start position:0% random and you could not like try to 00:34:31.000 --> 00:34:35.070 align:start position:0% random and you could not like try to create<00:34:31.600> your<00:34:31.919> alliances<00:34:33.150> and<00:34:34.150> the<00:34:34.510> random 00:34:35.070 --> 00:34:35.080 align:start position:0% create your alliances and the random 00:34:35.080 --> 00:34:37.350 align:start position:0% create your alliances and the random selection<00:34:35.230> also<00:34:35.679> gave<00:34:35.950> all<00:34:36.190> the<00:34:36.340> families<00:34:37.060> the 00:34:37.350 --> 00:34:37.360 align:start position:0% selection also gave all the families the 00:34:37.360 --> 00:34:40.020 align:start position:0% selection also gave all the families the chance<00:34:37.570> to<00:34:38.290> rotate<00:34:38.950> in<00:34:39.190> the<00:34:39.280> door<00:34:39.429> so<00:34:39.790> this 00:34:40.020 --> 00:34:40.030 align:start position:0% chance to rotate in the door so this 00:34:40.030 --> 00:34:41.850 align:start position:0% chance to rotate in the door so this times<00:34:40.270> you<00:34:40.510> this<00:34:40.750> time<00:34:40.900> is<00:34:41.020> you<00:34:41.200> and<00:34:41.530> so<00:34:41.740> it 00:34:41.850 --> 00:34:41.860 align:start position:0% times you this time is you and so it 00:34:41.860 --> 00:34:46.409 align:start position:0% times you this time is you and so it rotated<00:34:42.460> and<00:34:43.270> is<00:34:43.390> created<00:34:44.070> like<00:34:45.070> peace<00:34:45.700> among 00:34:46.409 --> 00:34:46.419 align:start position:0% rotated and is created like peace among 00:34:46.419 --> 00:34:50.280 align:start position:0% rotated and is created like peace among that<00:34:47.020> right<00:34:48.630> to<00:34:49.630> move<00:34:49.720> you<00:34:49.840> learn<00:34:49.960> more<00:34:50.140> about 00:34:50.280 --> 00:34:50.290 align:start position:0% that right to move you learn more about 00:34:50.290 --> 00:34:52.320 align:start position:0% that right to move you learn more about how<00:34:50.679> the<00:34:50.740> process<00:34:51.100> works<00:34:51.520> and<00:34:52.210> the 00:34:52.320 --> 00:34:52.330 align:start position:0% how the process works and the 00:34:52.330 --> 00:34:55.290 align:start position:0% how the process works and the mathematics<00:34:52.780> behind<00:34:52.900> it<00:34:53.640> this<00:34:54.640> is<00:34:54.910> very<00:34:55.240> good 00:34:55.290 --> 00:34:55.300 align:start position:0% mathematics behind it this is very good 00:34:55.300 --> 00:34:59.820 align:start position:0% mathematics behind it this is very good research<00:34:55.750> paper<00:34:56.020> from<00:34:58.050> the<00:34:59.050> protection<00:34:59.560> but 00:34:59.820 --> 00:34:59.830 align:start position:0% research paper from the protection but 00:34:59.830 --> 00:35:03.840 align:start position:0% research paper from the protection but who<00:34:59.920> knows<00:35:00.210> and<00:35:01.210> these<00:35:01.390> guys<00:35:01.600> and<00:35:02.370> the<00:35:03.370> CCC's 00:35:03.840 --> 00:35:03.850 align:start position:0% who knows and these guys and the CCC's 00:35:03.850 --> 00:35:06.270 align:start position:0% who knows and these guys and the CCC's that<00:35:04.030> the<00:35:04.540> Doge<00:35:04.780> election<00:35:05.470> process<00:35:05.830> like<00:35:06.040> okay 00:35:06.270 --> 00:35:06.280 align:start position:0% that the Doge election process like okay 00:35:06.280 --> 00:35:08.490 align:start position:0% that the Doge election process like okay I'm<00:35:06.400> sorry<00:35:06.610> you're<00:35:07.120> taking<00:35:07.270> a<00:35:07.420> future<00:35:07.690> tense 00:35:08.490 --> 00:35:08.500 align:start position:0% I'm sorry you're taking a future tense 00:35:08.500 --> 00:35:11.460 align:start position:0% I'm sorry you're taking a future tense they<00:35:09.190> come<00:35:09.430> they<00:35:09.940> call<00:35:10.090> that<00:35:10.470> security 00:35:11.460 --> 00:35:11.470 align:start position:0% they come they call that security 00:35:11.470 --> 00:35:14.670 align:start position:0% they come they call that security together<00:35:11.710> okay<00:35:12.070> when<00:35:12.940> you<00:35:13.090> are<00:35:13.120> in<00:35:14.080> urgent<00:35:14.260> and 00:35:14.670 --> 00:35:14.680 align:start position:0% together okay when you are in urgent and 00:35:14.680 --> 00:35:17.940 align:start position:0% together okay when you are in urgent and you<00:35:14.800> are<00:35:15.100> thinking<00:35:15.400> of<00:35:15.550> various<00:35:16.450> are<00:35:16.950> good 00:35:17.940 --> 00:35:17.950 align:start position:0% you are thinking of various are good 00:35:17.950 --> 00:35:19.620 align:start position:0% you are thinking of various are good place<00:35:18.130> to<00:35:18.250> do<00:35:18.370> business<00:35:18.400> when<00:35:19.210> you<00:35:19.360> see<00:35:19.540> that 00:35:19.620 --> 00:35:19.630 align:start position:0% place to do business when you see that 00:35:19.630 --> 00:35:20.490 align:start position:0% place to do business when you see that they<00:35:19.750> have<00:35:19.870> this<00:35:20.020> very<00:35:20.230> sophisticated 00:35:20.490 --> 00:35:20.500 align:start position:0% they have this very sophisticated 00:35:20.500 --> 00:35:23.040 align:start position:0% they have this very sophisticated process<00:35:21.370> and<00:35:21.940> you<00:35:22.030> can<00:35:22.180> trust<00:35:22.450> that<00:35:22.720> the<00:35:22.900> rule 00:35:23.040 --> 00:35:23.050 align:start position:0% process and you can trust that the rule 00:35:23.050 --> 00:35:26.130 align:start position:0% process and you can trust that the rule of<00:35:23.140> law<00:35:23.350> we<00:35:23.860> stay<00:35:24.100> right<00:35:24.760> so<00:35:25.570> this<00:35:25.750> is<00:35:25.870> what<00:35:26.020> we 00:35:26.130 --> 00:35:26.140 align:start position:0% of law we stay right so this is what we 00:35:26.140 --> 00:35:28.380 align:start position:0% of law we stay right so this is what we call<00:35:26.320> a<00:35:26.350> security<00:35:26.740> theater<00:35:27.030> even<00:35:28.030> if<00:35:28.210> the 00:35:28.380 --> 00:35:28.390 align:start position:0% call a security theater even if the 00:35:28.390 --> 00:35:31.620 align:start position:0% call a security theater even if the process<00:35:28.740> didn't<00:35:29.740> work<00:35:29.790> one<00:35:30.790> morning<00:35:30.940> one<00:35:31.120> it 00:35:31.620 --> 00:35:31.630 align:start position:0% process didn't work one morning one it 00:35:31.630 --> 00:35:34.690 align:start position:0% process didn't work one morning one it still<00:35:31.900> gave<00:35:32.050> the<00:35:32.230> impression<00:35:32.440> that<00:35:32.800> is 00:35:34.690 --> 00:35:34.700 align:start position:0% still gave the impression that is 00:35:34.700 --> 00:35:36.400 align:start position:0% still gave the impression that is [Music] 00:35:36.400 --> 00:35:36.410 align:start position:0% [Music] 00:35:36.410 --> 00:35:38.390 align:start position:0% [Music] if<00:35:37.410> you<00:35:37.530> want<00:35:37.680> to<00:35:37.740> learn<00:35:37.890> more<00:35:38.070> about<00:35:38.220> the 00:35:38.390 --> 00:35:38.400 align:start position:0% if you want to learn more about the 00:35:38.400 --> 00:35:40.270 align:start position:0% if you want to learn more about the Renaissance<00:35:38.880> and<00:35:39.090> sortition 00:35:40.270 --> 00:35:40.280 align:start position:0% Renaissance and sortition 00:35:40.280 --> 00:35:45.760 align:start position:0% Renaissance and sortition the<00:35:41.280> logistical<00:35:41.850> tiny<00:35:42.480> but<00:35:43.380> Machiavelli 00:35:45.760 --> 00:35:45.770 align:start position:0% the logistical tiny but Machiavelli 00:35:45.770 --> 00:35:50.030 align:start position:0% the logistical tiny but Machiavelli praises<00:35:47.330> his<00:35:48.330> discourse<00:35:48.720> on<00:35:48.900> living<00:35:49.230> he<00:35:49.860> was<00:35:49.980> a 00:35:50.030 --> 00:35:50.040 align:start position:0% praises his discourse on living he was a 00:35:50.040 --> 00:35:51.830 align:start position:0% praises his discourse on living he was a Republican<00:35:50.610> everything<00:35:51.120> he<00:35:51.210> did<00:35:51.270> he<00:35:51.390> wrote<00:35:51.660> of 00:35:51.830 --> 00:35:51.840 align:start position:0% Republican everything he did he wrote of 00:35:51.840 --> 00:35:54.200 align:start position:0% Republican everything he did he wrote of the<00:35:51.960> prince<00:35:52.200> he's<00:35:53.160> contrary<00:35:53.610> to<00:35:53.730> what<00:35:53.940> he 00:35:54.200 --> 00:35:54.210 align:start position:0% the prince he's contrary to what he 00:35:54.210 --> 00:35:55.670 align:start position:0% the prince he's contrary to what he actually<00:35:54.540> did<00:35:54.900> a<00:35:54.960> separation<00:35:55.440> he<00:35:55.500> was<00:35:55.620> a 00:35:55.670 --> 00:35:55.680 align:start position:0% actually did a separation he was a 00:35:55.680 --> 00:35:58.370 align:start position:0% actually did a separation he was a Republican<00:35:56.280> and<00:35:56.490> he<00:35:56.700> believed<00:35:57.390> strongly<00:35:57.990> in 00:35:58.370 --> 00:35:58.380 align:start position:0% Republican and he believed strongly in 00:35:58.380 --> 00:36:00.830 align:start position:0% Republican and he believed strongly in people<00:35:59.340> having<00:35:59.610> the<00:35:59.880> right<00:35:59.940> to<00:36:00.240> government 00:36:00.830 --> 00:36:00.840 align:start position:0% people having the right to government 00:36:00.840 --> 00:36:06.310 align:start position:0% people having the right to government and<00:36:01.530> use<00:36:01.800> news<00:36:02.040> of<00:36:02.190> randomness<00:36:02.520> in<00:36:03.530> selection 00:36:06.310 --> 00:36:06.320 align:start position:0% and use news of randomness in selection 00:36:06.320 --> 00:36:09.310 align:start position:0% and use news of randomness in selection and<00:36:07.320> so<00:36:07.500> this<00:36:07.710> Texas<00:36:08.130> to<00:36:08.340> the<00:36:08.370> United<00:36:08.760> States 00:36:09.310 --> 00:36:09.320 align:start position:0% and so this Texas to the United States 00:36:09.320 --> 00:36:12.650 align:start position:0% and so this Texas to the United States efficient<00:36:10.320> most<00:36:10.620> important<00:36:11.390> discussions<00:36:12.390> in 00:36:12.650 --> 00:36:12.660 align:start position:0% efficient most important discussions in 00:36:12.660 --> 00:36:15.440 align:start position:0% efficient most important discussions in the<00:36:12.870> time<00:36:13.830> of<00:36:13.980> the<00:36:14.160> early<00:36:14.910> days<00:36:15.120> of<00:36:15.360> the 00:36:15.440 --> 00:36:15.450 align:start position:0% the time of the early days of the 00:36:15.450 --> 00:36:18.200 align:start position:0% the time of the early days of the country<00:36:16.010> so<00:36:17.010> you<00:36:17.220> know<00:36:17.400> they<00:36:17.670> were<00:36:17.760> from<00:36:18.090> the 00:36:18.200 --> 00:36:18.210 align:start position:0% country so you know they were from the 00:36:18.210 --> 00:36:19.880 align:start position:0% country so you know they were from the English<00:36:18.450> food<00:36:18.630> and<00:36:19.140> now<00:36:19.380> they<00:36:19.530> have<00:36:19.680> to<00:36:19.740> figure 00:36:19.880 --> 00:36:19.890 align:start position:0% English food and now they have to figure 00:36:19.890 --> 00:36:22.970 align:start position:0% English food and now they have to figure out<00:36:20.070> how<00:36:20.400> they<00:36:20.610> create<00:36:21.090> an<00:36:21.270> estate<00:36:21.840> but<00:36:22.140> that 00:36:22.970 --> 00:36:22.980 align:start position:0% out how they create an estate but that 00:36:22.980 --> 00:36:25.130 align:start position:0% out how they create an estate but that works<00:36:23.310> basically<00:36:23.550> first<00:36:24.150> time<00:36:24.360> ever<00:36:24.600> and 00:36:25.130 --> 00:36:25.140 align:start position:0% works basically first time ever and 00:36:25.140 --> 00:36:28.220 align:start position:0% works basically first time ever and let's<00:36:25.830> say<00:36:26.190> democracy<00:36:26.820> and<00:36:27.750> we<00:36:27.900> have<00:36:28.050> like 00:36:28.220 --> 00:36:28.230 align:start position:0% let's say democracy and we have like 00:36:28.230 --> 00:36:29.870 align:start position:0% let's say democracy and we have like these<00:36:28.770> guys 00:36:29.870 --> 00:36:29.880 align:start position:0% these guys 00:36:29.880 --> 00:36:32.380 align:start position:0% these guys the<00:36:30.810> felony<00:36:31.170> row<00:36:31.650> for<00:36:32.070> basically 00:36:32.380 --> 00:36:32.390 align:start position:0% the felony row for basically 00:36:32.390 --> 00:36:34.850 align:start position:0% the felony row for basically intellectual<00:36:33.390> traditions<00:36:34.110> writing<00:36:34.470> on<00:36:34.620> okay 00:36:34.850 --> 00:36:34.860 align:start position:0% intellectual traditions writing on okay 00:36:34.860 --> 00:36:37.550 align:start position:0% intellectual traditions writing on okay how<00:36:35.760> should<00:36:35.790> the<00:36:36.180> u.s.<00:36:36.210> worked<00:36:36.990> out<00:36:37.320> the 00:36:37.550 --> 00:36:37.560 align:start position:0% how should the u.s. worked out the 00:36:37.560 --> 00:36:40.280 align:start position:0% how should the u.s. worked out the critical<00:36:37.860> system<00:36:38.160> world<00:36:38.810> president<00:36:39.810> achieve 00:36:40.280 --> 00:36:40.290 align:start position:0% critical system world president achieve 00:36:40.290 --> 00:36:43.400 align:start position:0% critical system world president achieve the<00:36:41.220> Congress<00:36:41.790> to<00:36:42.360> Chandlers<00:36:42.780> one<00:36:43.020> charmer 00:36:43.400 --> 00:36:43.410 align:start position:0% the Congress to Chandlers one charmer 00:36:43.410 --> 00:36:46.390 align:start position:0% the Congress to Chandlers one charmer all<00:36:43.590> these<00:36:43.740> questions<00:36:44.010> they<00:36:44.370> wrote<00:36:44.610> papers 00:36:46.390 --> 00:36:46.400 align:start position:0% all these questions they wrote papers 00:36:46.400 --> 00:36:50.960 align:start position:0% all these questions they wrote papers and<00:36:48.110> each<00:36:49.110> one<00:36:49.290> one<00:36:49.800> by<00:36:49.830> that<00:36:50.160> it's<00:36:50.340> not<00:36:50.550> a<00:36:50.580> very 00:36:50.960 --> 00:36:50.970 align:start position:0% and each one one by that it's not a very 00:36:50.970 --> 00:36:52.790 align:start position:0% and each one one by that it's not a very well<00:36:51.360> known<00:36:51.390> it<00:36:51.780> is<00:36:51.870> well<00:36:52.020> known<00:36:52.170> but<00:36:52.350> not<00:36:52.620> as 00:36:52.790 --> 00:36:52.800 align:start position:0% well known it is well known but not as 00:36:52.800 --> 00:36:54.350 align:start position:0% well known it is well known but not as much<00:36:53.190> as<00:36:53.250> the<00:36:53.520> others<00:36:53.760> and<00:36:54.030> he's<00:36:54.120> called 00:36:54.350 --> 00:36:54.360 align:start position:0% much as the others and he's called 00:36:54.360 --> 00:36:57.320 align:start position:0% much as the others and he's called Thomas<00:36:54.600> Paine<00:36:55.130> and<00:36:56.130> this<00:36:56.280> guy<00:36:56.430> among<00:36:57.120> other 00:36:57.320 --> 00:36:57.330 align:start position:0% Thomas Paine and this guy among other 00:36:57.330 --> 00:37:02.180 align:start position:0% Thomas Paine and this guy among other things<00:36:57.600> he<00:36:58.640> created<00:37:00.620> so<00:37:01.620> many<00:37:01.710> things<00:37:01.980> based 00:37:02.180 --> 00:37:02.190 align:start position:0% things he created so many things based 00:37:02.190 --> 00:37:03.650 align:start position:0% things he created so many things based on<00:37:02.280> universal<00:37:02.490> income<00:37:02.910> are<00:37:03.090> based<00:37:03.300> in<00:37:03.450> some 00:37:03.650 --> 00:37:03.660 align:start position:0% on universal income are based in some 00:37:03.660 --> 00:37:05.480 align:start position:0% on universal income are based in some races<00:37:03.900> from<00:37:04.140> him<00:37:04.380> and<00:37:04.620> a<00:37:04.710> greater<00:37:04.920> agrarian 00:37:05.480 --> 00:37:05.490 align:start position:0% races from him and a greater agrarian 00:37:05.490 --> 00:37:11.180 align:start position:0% races from him and a greater agrarian society<00:37:06.440> and<00:37:07.440> she<00:37:07.760> is<00:37:08.760> a<00:37:08.940> method<00:37:09.530> of<00:37:10.530> selecting 00:37:11.180 --> 00:37:11.190 align:start position:0% society and she is a method of selecting 00:37:11.190 --> 00:37:14.120 align:start position:0% society and she is a method of selecting the<00:37:11.370> president<00:37:11.820> in<00:37:12.600> order<00:37:12.840> to<00:37:12.960> avoid<00:37:13.200> the 00:37:14.120 --> 00:37:14.130 align:start position:0% the president in order to avoid the 00:37:14.130 --> 00:37:15.710 align:start position:0% the president in order to avoid the federal<00:37:14.430> government<00:37:14.730> will<00:37:14.850> be<00:37:14.880> captured<00:37:15.360> by 00:37:15.710 --> 00:37:15.720 align:start position:0% federal government will be captured by 00:37:15.720 --> 00:37:18.800 align:start position:0% federal government will be captured by the<00:37:15.780> name<00:37:16.080> of<00:37:16.320> the<00:37:16.590> powerful<00:37:17.190> currents<00:37:17.810> so 00:37:18.800 --> 00:37:18.810 align:start position:0% the name of the powerful currents so 00:37:18.810 --> 00:37:21.410 align:start position:0% the name of the powerful currents so this<00:37:18.990> is<00:37:19.110> what<00:37:19.200> he<00:37:19.320> suggested<00:37:19.770> and 00:37:21.410 --> 00:37:21.420 align:start position:0% this is what he suggested and 00:37:21.420 --> 00:37:24.200 align:start position:0% this is what he suggested and the<00:37:22.290> colonies<00:37:22.560> who<00:37:22.680> choose<00:37:22.980> delegates<00:37:23.400> to 00:37:24.200 --> 00:37:24.210 align:start position:0% the colonies who choose delegates to 00:37:24.210 --> 00:37:26.390 align:start position:0% the colonies who choose delegates to Congress<00:37:24.360> and<00:37:24.930> then<00:37:25.470> we'll<00:37:25.650> talk<00:37:25.860> a<00:37:25.890> start<00:37:26.220> in 00:37:26.390 --> 00:37:26.400 align:start position:0% Congress and then we'll talk a start in 00:37:26.400 --> 00:37:29.480 align:start position:0% Congress and then we'll talk a start in the<00:37:27.360> you<00:37:27.450> select<00:37:27.750> by<00:37:27.990> the<00:37:28.050> drug<00:37:28.410> one<00:37:29.250> colony 00:37:29.480 --> 00:37:29.490 align:start position:0% the you select by the drug one colony 00:37:29.490 --> 00:37:33.740 align:start position:0% the you select by the drug one colony out<00:37:29.730> of<00:37:29.910> the<00:37:30.000> thirteen<00:37:30.330> and<00:37:31.290> then<00:37:32.750> those 00:37:33.740 --> 00:37:33.750 align:start position:0% out of the thirteen and then those 00:37:33.750 --> 00:37:35.270 align:start position:0% out of the thirteen and then those thirteen<00:37:34.140> members<00:37:34.260> from<00:37:34.500> that<00:37:34.650> colony<00:37:34.980> which 00:37:35.270 --> 00:37:35.280 align:start position:0% thirteen members from that colony which 00:37:35.280 --> 00:37:37.430 align:start position:0% thirteen members from that colony which was<00:37:35.310> one<00:37:35.790> member<00:37:35.970> will<00:37:36.510> be<00:37:36.540> president<00:37:36.990> for<00:37:37.020> one 00:37:37.430 --> 00:37:37.440 align:start position:0% was one member will be president for one 00:37:37.440 --> 00:37:41.120 align:start position:0% was one member will be president for one year<00:37:37.620> right<00:37:38.550> so<00:37:39.290> this<00:37:40.290> is<00:37:40.350> what<00:37:40.560> it<00:37:40.680> suggested 00:37:41.120 --> 00:37:41.130 align:start position:0% year right so this is what it suggested 00:37:41.130 --> 00:37:44.210 align:start position:0% year right so this is what it suggested because<00:37:41.910> he<00:37:42.270> was<00:37:42.420> thinking<00:37:42.720> of<00:37:43.160> how<00:37:44.160> the 00:37:44.210 --> 00:37:44.220 align:start position:0% because he was thinking of how the 00:37:44.220 --> 00:37:48.140 align:start position:0% because he was thinking of how the Greeks<00:37:44.610> did<00:37:44.820> write<00:37:45.660> the<00:37:46.760> rotation<00:37:47.760> class 00:37:48.140 --> 00:37:48.150 align:start position:0% Greeks did write the rotation class 00:37:48.150 --> 00:37:50.090 align:start position:0% Greeks did write the rotation class formal<00:37:48.510> selection<00:37:48.690> would<00:37:49.530> tend<00:37:49.800> to<00:37:49.830> break 00:37:50.090 --> 00:37:50.100 align:start position:0% formal selection would tend to break 00:37:50.100 --> 00:37:55.070 align:start position:0% formal selection would tend to break tradition<00:37:50.520> of<00:37:50.940> power<00:37:53.450> this<00:37:54.450> is<00:37:54.600> the<00:37:54.720> last<00:37:54.930> time 00:37:55.070 --> 00:37:55.080 align:start position:0% tradition of power this is the last time 00:37:55.080 --> 00:37:57.590 align:start position:0% tradition of power this is the last time that<00:37:55.140> rotation<00:37:55.740> was<00:37:55.950> really<00:37:56.220> discussed<00:37:56.670> and<00:37:57.540> a 00:37:57.590 --> 00:37:57.600 align:start position:0% that rotation was really discussed and a 00:37:57.600 --> 00:37:59.630 align:start position:0% that rotation was really discussed and a serious<00:37:57.900> level<00:37:58.050> did<00:37:58.620> a<00:37:58.650> mass<00:37:58.920> of<00:37:58.950> course<00:37:59.340> as 00:37:59.630 --> 00:37:59.640 align:start position:0% serious level did a mass of course as 00:37:59.640 --> 00:38:01.820 align:start position:0% serious level did a mass of course as you<00:37:59.790> know<00:37:59.930> and<00:38:00.930> anything<00:38:01.230> climb<00:38:01.530> for 00:38:01.820 --> 00:38:01.830 align:start position:0% you know and anything climb for 00:38:01.830 --> 00:38:04.460 align:start position:0% you know and anything climb for extradition<00:38:02.190> declined<00:38:02.760> in<00:38:03.180> the<00:38:03.470> political 00:38:04.460 --> 00:38:04.470 align:start position:0% extradition declined in the political 00:38:04.470 --> 00:38:07.730 align:start position:0% extradition declined in the political world<00:38:04.710> history<00:38:05.810> because<00:38:06.810> of<00:38:07.020> two<00:38:07.260> reasons 00:38:07.730 --> 00:38:07.740 align:start position:0% world history because of two reasons 00:38:07.740 --> 00:38:11.000 align:start position:0% world history because of two reasons what<00:38:08.520> because<00:38:08.850> look<00:38:09.570> to<00:38:10.500> be<00:38:10.590> seen<00:38:10.830> as 00:38:11.000 --> 00:38:11.010 align:start position:0% what because look to be seen as 00:38:11.010 --> 00:38:13.370 align:start position:0% what because look to be seen as application<00:38:11.880> of<00:38:11.970> a<00:38:12.060> possibility<00:38:12.660> length<00:38:12.870> it 00:38:13.370 --> 00:38:13.380 align:start position:0% application of a possibility length it 00:38:13.380 --> 00:38:15.890 align:start position:0% application of a possibility length it should<00:38:13.530> let<00:38:13.710> trivialize<00:38:14.460> looks<00:38:14.730> like<00:38:15.540> more 00:38:15.890 --> 00:38:15.900 align:start position:0% should let trivialize looks like more 00:38:15.900 --> 00:38:18.230 align:start position:0% should let trivialize looks like more like<00:38:15.930> can<00:38:16.260> be<00:38:16.440> done<00:38:17.190> but<00:38:17.400> then<00:38:17.640> she<00:38:18.120> like 00:38:18.230 --> 00:38:18.240 align:start position:0% like can be done but then she like 00:38:18.240 --> 00:38:20.110 align:start position:0% like can be done but then she like something<00:38:18.900> this<00:38:19.200> is<00:38:19.320> made<00:38:19.500> way<00:38:19.710> to<00:38:19.770> select 00:38:20.110 --> 00:38:20.120 align:start position:0% something this is made way to select 00:38:20.120 --> 00:38:25.040 align:start position:0% something this is made way to select people<00:38:21.120> for<00:38:21.360> office<00:38:22.070> and<00:38:23.070> also<00:38:23.580> because<00:38:24.390> the 00:38:25.040 --> 00:38:25.050 align:start position:0% people for office and also because the 00:38:25.050 --> 00:38:27.790 align:start position:0% people for office and also because the classically<00:38:25.740> the<00:38:26.220> Republic<00:38:26.670> people<00:38:27.270> like 00:38:27.790 --> 00:38:27.800 align:start position:0% classically the Republic people like 00:38:27.800 --> 00:38:30.890 align:start position:0% classically the Republic people like working<00:38:28.800> for<00:38:29.100> the<00:38:29.160> common<00:38:29.400> good<00:38:29.540> fell<00:38:30.540> and 00:38:30.890 --> 00:38:30.900 align:start position:0% working for the common good fell and 00:38:30.900 --> 00:38:32.990 align:start position:0% working for the common good fell and what<00:38:31.440> we<00:38:31.560> have<00:38:31.740> is<00:38:31.920> liberal<00:38:32.460> democracies 00:38:32.990 --> 00:38:33.000 align:start position:0% what we have is liberal democracies 00:38:33.000 --> 00:38:34.730 align:start position:0% what we have is liberal democracies worried<00:38:33.330> how<00:38:33.510> the<00:38:33.570> people<00:38:33.930> selecting<00:38:34.440> from 00:38:34.730 --> 00:38:34.740 align:start position:0% worried how the people selecting from 00:38:34.740 --> 00:38:37.910 align:start position:0% worried how the people selecting from representative<00:38:35.310> and<00:38:36.090> the<00:38:36.180> sky<00:38:36.470> governing<00:38:37.470> for 00:38:37.910 --> 00:38:37.920 align:start position:0% representative and the sky governing for 00:38:37.920 --> 00:38:39.950 align:start position:0% representative and the sky governing for other<00:38:38.100> fears<00:38:38.430> and<00:38:38.850> then<00:38:39.270> the<00:38:39.570> people<00:38:39.840> who 00:38:39.950 --> 00:38:39.960 align:start position:0% other fears and then the people who 00:38:39.960 --> 00:38:43.070 align:start position:0% other fears and then the people who selecting<00:38:40.380> again<00:38:40.850> another<00:38:41.850> that<00:38:42.540> even<00:38:42.990> the 00:38:43.070 --> 00:38:43.080 align:start position:0% selecting again another that even the 00:38:43.080 --> 00:38:45.260 align:start position:0% selecting again another that even the more<00:38:43.290> title<00:38:43.680> is<00:38:43.890> wetland<00:38:44.310> or<00:38:44.490> housing<00:38:45.150> there 00:38:45.260 --> 00:38:45.270 align:start position:0% more title is wetland or housing there 00:38:45.270 --> 00:38:49.010 align:start position:0% more title is wetland or housing there was<00:38:45.390> garbage<00:38:45.570> in<00:38:46.230> the<00:38:46.500> world<00:38:46.830> so<00:38:47.820> this<00:38:48.690> ended 00:38:49.010 --> 00:38:49.020 align:start position:0% was garbage in the world so this ended 00:38:49.020 --> 00:38:52.610 align:start position:0% was garbage in the world so this ended in<00:38:49.170> but<00:38:50.040> you<00:38:50.130> know<00:38:50.280> as<00:38:50.540> partisan<00:38:51.540> politics<00:38:51.900> and 00:38:52.610 --> 00:38:52.620 align:start position:0% in but you know as partisan politics and 00:38:52.620 --> 00:38:55.100 align:start position:0% in but you know as partisan politics and that<00:38:52.830> exactly<00:38:53.490> what<00:38:54.120> the<00:38:54.300> ranch<00:38:54.480> and<00:38:54.690> wanted 00:38:55.100 --> 00:38:55.110 align:start position:0% that exactly what the ranch and wanted 00:38:55.110 --> 00:38:58.850 align:start position:0% that exactly what the ranch and wanted to<00:38:55.170> avoid<00:38:55.560> when<00:38:56.520> they<00:38:57.060> use<00:38:57.390> this<00:38:57.570> partition<00:38:57.990> so 00:38:58.850 --> 00:38:58.860 align:start position:0% to avoid when they use this partition so 00:38:58.860 --> 00:39:01.250 align:start position:0% to avoid when they use this partition so then<00:38:59.160> I<00:38:59.340> should<00:38:59.400> Greek<00:39:00.360> wouldn't<00:39:00.900> recognize 00:39:01.250 --> 00:39:01.260 align:start position:0% then I should Greek wouldn't recognize 00:39:01.260 --> 00:39:06.830 align:start position:0% then I should Greek wouldn't recognize our<00:39:01.530> systems<00:39:02.010> are<00:39:02.400> reported<00:39:03.330> right<00:39:05.840> these 00:39:06.830 --> 00:39:06.840 align:start position:0% our systems are reported right these 00:39:06.840 --> 00:39:10.310 align:start position:0% our systems are reported right these days<00:39:06.870> there<00:39:07.650> is<00:39:07.710> a<00:39:07.740> movement<00:39:08.070> is<00:39:09.080> really<00:39:10.080> bad 00:39:10.310 --> 00:39:10.320 align:start position:0% days there is a movement is really bad 00:39:10.320 --> 00:39:12.710 align:start position:0% days there is a movement is really bad early<00:39:11.280> ideas<00:39:11.520> of<00:39:11.670> partition<00:39:12.150> if<00:39:12.330> you<00:39:12.450> want<00:39:12.630> to 00:39:12.710 --> 00:39:12.720 align:start position:0% early ideas of partition if you want to 00:39:12.720 --> 00:39:13.310 align:start position:0% early ideas of partition if you want to learn<00:39:12.810> more 00:39:13.310 --> 00:39:13.320 align:start position:0% learn more 00:39:13.320 --> 00:39:15.740 align:start position:0% learn more these<00:39:13.740> are<00:39:13.860> called<00:39:14.130> claret<00:39:14.640> Aryans<00:39:15.030> you<00:39:15.630> know 00:39:15.740 --> 00:39:15.750 align:start position:0% these are called claret Aryans you know 00:39:15.750 --> 00:39:19.370 align:start position:0% these are called claret Aryans you know a<00:39:15.780> lot<00:39:16.170> more<00:39:17.060> French<00:39:18.060> wine<00:39:18.240> and<00:39:18.480> grapes 00:39:19.370 --> 00:39:19.380 align:start position:0% a lot more French wine and grapes 00:39:19.380 --> 00:39:21.349 align:start position:0% a lot more French wine and grapes but<00:39:20.039> these<00:39:20.220> guys<00:39:20.400> are<00:39:20.460> writing<00:39:20.910> for<00:39:21.089> all<00:39:21.210> these 00:39:21.349 --> 00:39:21.359 align:start position:0% but these guys are writing for all these 00:39:21.359 --> 00:39:22.999 align:start position:0% but these guys are writing for all these I<00:39:21.720> hope<00:39:22.380> it<00:39:22.650> works 00:39:22.999 --> 00:39:23.009 align:start position:0% I hope it works 00:39:23.009 --> 00:39:25.789 align:start position:0% I hope it works today<00:39:23.250> you<00:39:23.970> have<00:39:24.150> what<00:39:25.049> they<00:39:25.170> call<00:39:25.410> it<00:39:25.559> mini 00:39:25.789 --> 00:39:25.799 align:start position:0% today you have what they call it mini 00:39:25.799 --> 00:39:28.819 align:start position:0% today you have what they call it mini buggies<00:39:26.190> you<00:39:26.869> select<00:39:27.869> a<00:39:28.109> number<00:39:28.200> of<00:39:28.440> people 00:39:28.819 --> 00:39:28.829 align:start position:0% buggies you select a number of people 00:39:28.829 --> 00:39:33.160 align:start position:0% buggies you select a number of people for<00:39:30.470> to<00:39:31.470> the<00:39:31.589> cents<00:39:31.769> and<00:39:32.069> then<00:39:32.220> these<00:39:32.430> guys 00:39:33.160 --> 00:39:33.170 align:start position:0% for to the cents and then these guys 00:39:33.170 --> 00:39:36.559 align:start position:0% for to the cents and then these guys probably<00:39:34.400> are<00:39:35.400> consulted<00:39:36.000> in<00:39:36.180> policymaking 00:39:36.559 --> 00:39:36.569 align:start position:0% probably are consulted in policymaking 00:39:36.569 --> 00:39:39.380 align:start position:0% probably are consulted in policymaking right<00:39:37.349> there<00:39:38.250> nicely<00:39:38.460> doing<00:39:38.789> one<00:39:38.910> of<00:39:39.029> these<00:39:39.210> in 00:39:39.380 --> 00:39:39.390 align:start position:0% right there nicely doing one of these in 00:39:39.390 --> 00:39:41.809 align:start position:0% right there nicely doing one of these in France<00:39:39.660> now<00:39:39.869> I'll<00:39:40.259> end<00:39:40.470> on<00:39:40.559> the<00:39:40.650> morris<00:39:40.920> and 00:39:41.809 --> 00:39:41.819 align:start position:0% France now I'll end on the morris and 00:39:41.819 --> 00:39:44.210 align:start position:0% France now I'll end on the morris and this<00:39:42.599> is<00:39:42.720> for<00:39:42.960> making<00:39:43.440> policy<00:39:43.589> for<00:39:43.980> climate 00:39:44.210 --> 00:39:44.220 align:start position:0% this is for making policy for climate 00:39:44.220 --> 00:39:52.999 align:start position:0% this is for making policy for climate change<00:39:44.250> and<00:39:44.970> it's<00:39:45.809> just<00:39:46.170> last<00:39:47.069> week<00:39:51.890> all<00:39:52.890> this 00:39:52.999 --> 00:39:53.009 align:start position:0% change and it's just last week all this 00:39:53.009 --> 00:39:56.259 align:start position:0% change and it's just last week all this ideas<00:39:53.190> of<00:39:53.730> Sartre<00:39:54.240> Isha<00:39:54.390> and<00:39:54.750> how<00:39:54.930> to<00:39:54.990> create 00:39:56.259 --> 00:39:56.269 align:start position:0% ideas of Sartre Isha and how to create 00:39:56.269 --> 00:39:59.839 align:start position:0% ideas of Sartre Isha and how to create these<00:39:57.619> political<00:39:58.619> processes<00:39:59.130> that<00:39:59.250> are<00:39:59.460> more 00:39:59.839 --> 00:39:59.849 align:start position:0% these political processes that are more 00:39:59.849 --> 00:40:03.349 align:start position:0% these political processes that are more transparent<00:40:00.509> and<00:40:00.900> less<00:40:01.549> prone<00:40:02.549> to<00:40:02.609> pollution 00:40:03.349 --> 00:40:03.359 align:start position:0% transparent and less prone to pollution 00:40:03.359 --> 00:40:07.069 align:start position:0% transparent and less prone to pollution and<00:40:04.349> very<00:40:04.859> likely<00:40:05.309> to<00:40:05.549> pass<00:40:05.730> in<00:40:06.210> existing 00:40:07.069 --> 00:40:07.079 align:start position:0% and very likely to pass in existing 00:40:07.079 --> 00:40:10.519 align:start position:0% and very likely to pass in existing democracies<00:40:07.529> now<00:40:07.789> but<00:40:08.789> the<00:40:09.000> thing<00:40:09.329> is<00:40:09.599> that<00:40:10.109> we 00:40:10.519 --> 00:40:10.529 align:start position:0% democracies now but the thing is that we 00:40:10.529 --> 00:40:13.490 align:start position:0% democracies now but the thing is that we have<00:40:10.950> the<00:40:11.160> chance<00:40:11.690> since<00:40:12.690> we<00:40:12.839> don't<00:40:13.170> have<00:40:13.259> to 00:40:13.490 --> 00:40:13.500 align:start position:0% have the chance since we don't have to 00:40:13.500 --> 00:40:16.579 align:start position:0% have the chance since we don't have to reform<00:40:13.799> all<00:40:14.099> legacy<00:40:14.730> regimes<00:40:15.029> i<00:40:15.299> we<00:40:16.289> have<00:40:16.500> the 00:40:16.579 --> 00:40:16.589 align:start position:0% reform all legacy regimes i we have the 00:40:16.589 --> 00:40:18.859 align:start position:0% reform all legacy regimes i we have the chance<00:40:16.799> of<00:40:17.069> they<00:40:17.250> when<00:40:18.150> we<00:40:18.329> were<00:40:18.480> through<00:40:18.690> this 00:40:18.859 --> 00:40:18.869 align:start position:0% chance of they when we were through this 00:40:18.869 --> 00:40:21.109 align:start position:0% chance of they when we were through this monarchy<00:40:19.440> suspect<00:40:19.890> and<00:40:20.309> he<00:40:20.430> was<00:40:20.579> still<00:40:20.819> in<00:40:20.970> the 00:40:21.109 --> 00:40:21.119 align:start position:0% monarchy suspect and he was still in the 00:40:21.119 --> 00:40:23.329 align:start position:0% monarchy suspect and he was still in the century<00:40:22.019> we've<00:40:22.230> got<00:40:22.349> bill<00:40:22.559> this<00:40:22.710> just<00:40:23.130> dealt 00:40:23.329 --> 00:40:23.339 align:start position:0% century we've got bill this just dealt 00:40:23.339 --> 00:40:26.240 align:start position:0% century we've got bill this just dealt with<00:40:23.400> that<00:40:23.819> we<00:40:24.000> need<00:40:24.779> to<00:40:24.930> build<00:40:25.079> for<00:40:25.349> the 00:40:26.240 --> 00:40:26.250 align:start position:0% with that we need to build for the 00:40:26.250 --> 00:40:28.999 align:start position:0% with that we need to build for the coming<00:40:26.940> time<00:40:27.420> of<00:40:27.569> the<00:40:27.660> internet<00:40:28.109> to<00:40:28.259> be<00:40:28.410> the 00:40:28.999 --> 00:40:29.009 align:start position:0% coming time of the internet to be the 00:40:29.009 --> 00:40:32.120 align:start position:0% coming time of the internet to be the absolute<00:40:29.430> we<00:40:29.819> better<00:40:30.329> government<00:40:30.769> so<00:40:31.769> this<00:40:31.980> is 00:40:32.120 --> 00:40:32.130 align:start position:0% absolute we better government so this is 00:40:32.130 --> 00:40:34.759 align:start position:0% absolute we better government so this is the<00:40:32.279> blockchain<00:40:33.049> thing<00:40:34.049> so<00:40:34.529> we're<00:40:34.680> building 00:40:34.759 --> 00:40:34.769 align:start position:0% the blockchain thing so we're building 00:40:34.769 --> 00:40:36.609 align:start position:0% the blockchain thing so we're building these<00:40:34.980> institutions<00:40:35.519> and<00:40:35.730> we<00:40:35.970> can<00:40:36.299> choose 00:40:36.609 --> 00:40:36.619 align:start position:0% these institutions and we can choose 00:40:36.619 --> 00:40:38.690 align:start position:0% these institutions and we can choose whatever<00:40:37.619> we<00:40:37.769> want<00:40:38.039> because<00:40:38.160> there<00:40:38.430> are<00:40:38.490> no 00:40:38.690 --> 00:40:38.700 align:start position:0% whatever we want because there are no 00:40:38.700 --> 00:40:42.950 align:start position:0% whatever we want because there are no ladies<00:40:39.420> now<00:40:39.720> right<00:40:40.349> no<00:40:41.130> legacy<00:40:41.430> to<00:40:41.759> reform<00:40:42.119> so 00:40:42.950 --> 00:40:42.960 align:start position:0% ladies now right no legacy to reform so 00:40:42.960 --> 00:40:46.640 align:start position:0% ladies now right no legacy to reform so i<00:40:44.150> think<00:40:45.150> thats<00:40:45.390> artesian<00:40:45.900> can<00:40:46.109> be<00:40:46.259> a<00:40:46.289> really 00:40:46.640 --> 00:40:46.650 align:start position:0% i think thats artesian can be a really 00:40:46.650 --> 00:40:49.249 align:start position:0% i think thats artesian can be a really good<00:40:46.799> way<00:40:47.640> to<00:40:47.670> do<00:40:47.940> it<00:40:48.089> and<00:40:48.299> how<00:40:48.809> we<00:40:48.869> should 00:40:49.249 --> 00:40:49.259 align:start position:0% good way to do it and how we should 00:40:49.259 --> 00:40:51.920 align:start position:0% good way to do it and how we should think<00:40:49.470> about<00:40:49.859> this<00:40:50.130> well<00:40:50.430> when<00:40:51.390> do<00:40:51.569> we<00:40:51.599> want 00:40:51.920 --> 00:40:51.930 align:start position:0% think about this well when do we want 00:40:51.930 --> 00:40:55.220 align:start position:0% think about this well when do we want the<00:40:52.049> reason<00:40:52.380> to<00:40:52.470> be<00:40:52.589> part<00:40:52.859> of<00:40:53.099> the<00:40:54.230> decisions 00:40:55.220 --> 00:40:55.230 align:start position:0% the reason to be part of the decisions 00:40:55.230 --> 00:40:57.920 align:start position:0% the reason to be part of the decisions when<00:40:56.220> we<00:40:56.490> see<00:40:56.700> that<00:40:56.849> there<00:40:57.059> is<00:40:57.089> a<00:40:57.180> very<00:40:57.779> high 00:40:57.920 --> 00:40:57.930 align:start position:0% when we see that there is a very high 00:40:57.930 --> 00:41:02.400 align:start position:0% when we see that there is a very high chance<00:40:57.960> of<00:40:58.289> bad<00:40:58.500> prisons<00:40:58.950> becoming<00:40:59.849> part<00:41:00.119> of 00:41:02.400 --> 00:41:02.410 align:start position:0% 00:41:02.410 --> 00:41:05.359 align:start position:0% then<00:41:02.859> this<00:41:03.100> you<00:41:03.580> certainly<00:41:03.790> so<00:41:04.420> we<00:41:04.600> sanitize 00:41:05.359 --> 00:41:05.369 align:start position:0% then this you certainly so we sanitize 00:41:05.369 --> 00:41:08.849 align:start position:0% then this you certainly so we sanitize those<00:41:06.369> butter<00:41:06.700> business<00:41:07.230> now<00:41:08.230> when<00:41:08.470> we<00:41:08.619> want 00:41:08.849 --> 00:41:08.859 align:start position:0% those butter business now when we want 00:41:08.859 --> 00:41:11.190 align:start position:0% those butter business now when we want people<00:41:09.369> to<00:41:09.550> express<00:41:10.390> their<00:41:10.600> preferences<00:41:11.050> and 00:41:11.190 --> 00:41:11.200 align:start position:0% people to express their preferences and 00:41:11.200 --> 00:41:13.109 align:start position:0% people to express their preferences and we<00:41:11.350> don't<00:41:11.590> see<00:41:11.800> the<00:41:12.100> possibility<00:41:12.310> of<00:41:12.670> but<00:41:12.910> risk 00:41:13.109 --> 00:41:13.119 align:start position:0% we don't see the possibility of but risk 00:41:13.119 --> 00:41:16.859 align:start position:0% we don't see the possibility of but risk of<00:41:13.240> being<00:41:13.450> important<00:41:13.960> then<00:41:14.950> yes<00:41:15.340> we<00:41:15.670> can<00:41:15.910> we 00:41:16.859 --> 00:41:16.869 align:start position:0% of being important then yes we can we 00:41:16.869 --> 00:41:18.540 align:start position:0% of being important then yes we can we use<00:41:17.080> traditional<00:41:17.470> balking<00:41:17.920> systems<00:41:18.340> and 00:41:18.540 --> 00:41:18.550 align:start position:0% use traditional balking systems and 00:41:18.550 --> 00:41:20.880 align:start position:0% use traditional balking systems and quadratic<00:41:19.300> or<00:41:19.450> whatever<00:41:19.780> it<00:41:19.900> is<00:41:19.930> to<00:41:20.680> be<00:41:20.770> this 00:41:20.880 --> 00:41:20.890 align:start position:0% quadratic or whatever it is to be this 00:41:20.890 --> 00:41:24.990 align:start position:0% quadratic or whatever it is to be this constant<00:41:21.300> so<00:41:23.040> you<00:41:24.040> want<00:41:24.190> to<00:41:24.280> learn<00:41:24.550> more<00:41:24.730> about 00:41:24.990 --> 00:41:25.000 align:start position:0% constant so you want to learn more about 00:41:25.000 --> 00:41:27.960 align:start position:0% constant so you want to learn more about they<00:41:25.600> say<00:41:25.750> yeah<00:41:26.369> there<00:41:27.369> are<00:41:27.430> like<00:41:27.580> two<00:41:27.790> Bibles 00:41:27.960 --> 00:41:27.970 align:start position:0% they say yeah there are like two Bibles 00:41:27.970 --> 00:41:31.410 align:start position:0% they say yeah there are like two Bibles of<00:41:28.330> terminal<00:41:28.660> selection<00:41:29.109> one<00:41:30.040> of<00:41:30.130> them<00:41:30.310> is<00:41:30.640> the 00:41:31.410 --> 00:41:31.420 align:start position:0% of terminal selection one of them is the 00:41:31.420 --> 00:41:33.180 align:start position:0% of terminal selection one of them is the leg<00:41:31.540> of<00:41:31.660> the<00:41:31.750> drum<00:41:31.960> a<00:41:32.050> bit<00:41:32.080> of<00:41:32.320> stone<00:41:32.530> professor 00:41:33.180 --> 00:41:33.190 align:start position:0% leg of the drum a bit of stone professor 00:41:33.190 --> 00:41:36.840 align:start position:0% leg of the drum a bit of stone professor of<00:41:33.310> the<00:41:33.340> University<00:41:33.820> of<00:41:33.850> Dublin<00:41:34.830> is<00:41:35.830> great<00:41:36.609> and 00:41:36.840 --> 00:41:36.850 align:start position:0% of the University of Dublin is great and 00:41:36.850 --> 00:41:39.930 align:start position:0% of the University of Dublin is great and the<00:41:37.300> other<00:41:37.450> one<00:41:37.630> is<00:41:38.260> a<00:41:38.650> liver<00:41:39.160> dominant<00:41:39.609> the 00:41:39.930 --> 00:41:39.940 align:start position:0% the other one is a liver dominant the 00:41:39.940 --> 00:41:41.670 align:start position:0% the other one is a liver dominant the political<00:41:40.390> resolution<00:41:40.780> and<00:41:41.440> this<00:41:41.500> is<00:41:41.650> a 00:41:41.670 --> 00:41:41.680 align:start position:0% political resolution and this is a 00:41:41.680 --> 00:41:44.520 align:start position:0% political resolution and this is a history<00:41:42.070> of<00:41:42.190> how<00:41:42.670> random<00:41:43.660> selection<00:41:44.080> was<00:41:44.230> used 00:41:44.520 --> 00:41:44.530 align:start position:0% history of how random selection was used 00:41:44.530 --> 00:41:49.080 align:start position:0% history of how random selection was used throughout<00:41:45.280> history<00:41:45.670> of<00:41:46.200> politics<00:41:47.910> we<00:41:48.910> can 00:41:49.080 --> 00:41:49.090 align:start position:0% throughout history of politics we can 00:41:49.090 --> 00:41:52.530 align:start position:0% throughout history of politics we can learn<00:41:49.240> a<00:41:49.480> lot<00:41:49.780> from<00:41:50.050> this<00:41:51.359> thank<00:41:52.359> you<00:41:52.420> very 00:41:52.530 --> 00:41:52.540 align:start position:0% learn a lot from this thank you very 00:41:52.540 --> 00:41:59.930 align:start position:0% learn a lot from this thank you very much<00:41:57.540> Jonathan<00:41:58.540> actually<00:41:58.840> using<00:41:59.320> your<00:41:59.440> laptop 00:41:59.930 --> 00:41:59.940 align:start position:0% much Jonathan actually using your laptop 00:41:59.940 --> 00:42:12.210 align:start position:0% much Jonathan actually using your laptop you<00:42:01.350> fell<00:42:02.350> down<00:42:03.119> dramatically 00:42:12.210 --> 00:42:12.220 align:start position:0% 00:42:12.220 --> 00:42:14.830 align:start position:0% thank<00:42:13.220> you<00:42:13.280> all<00:42:13.430> for<00:42:13.460> coming<00:42:13.880> so<00:42:14.450> early<00:42:14.510> on 00:42:14.830 --> 00:42:14.840 align:start position:0% thank you all for coming so early on 00:42:14.840 --> 00:42:18.370 align:start position:0% thank you all for coming so early on Friday<00:42:15.170> but<00:42:16.010> last<00:42:16.280> day<00:42:16.430> of<00:42:16.520> death<00:42:16.700> huh<00:42:17.380> this 00:42:18.370 --> 00:42:18.380 align:start position:0% Friday but last day of death huh this 00:42:18.380 --> 00:42:21.580 align:start position:0% Friday but last day of death huh this week<00:42:18.980> was<00:42:19.130> great<00:42:19.720> so<00:42:20.720> my<00:42:20.900> name<00:42:21.020> is<00:42:21.110> John<00:42:21.350> light 00:42:21.580 --> 00:42:21.590 align:start position:0% week was great so my name is John light 00:42:21.590 --> 00:42:24.820 align:start position:0% week was great so my name is John light I<00:42:22.190> work<00:42:22.880> on<00:42:23.120> governance<00:42:23.690> for<00:42:24.410> the<00:42:24.440> Aragon 00:42:24.820 --> 00:42:24.830 align:start position:0% I work on governance for the Aragon 00:42:24.830 --> 00:42:27.370 align:start position:0% I work on governance for the Aragon Network<00:42:25.190> and<00:42:25.870> I'll<00:42:26.870> be<00:42:27.020> giving<00:42:27.200> a 00:42:27.370 --> 00:42:27.380 align:start position:0% Network and I'll be giving a 00:42:27.380 --> 00:42:29.200 align:start position:0% Network and I'll be giving a presentation<00:42:27.770> about<00:42:28.010> that<00:42:28.370> a<00:42:28.670> little<00:42:29.120> bit 00:42:29.200 --> 00:42:29.210 align:start position:0% presentation about that a little bit 00:42:29.210 --> 00:42:32.170 align:start position:0% presentation about that a little bit later<00:42:29.330> but<00:42:29.720> my<00:42:30.650> talk<00:42:31.130> this<00:42:31.310> morning<00:42:31.370> is<00:42:32.120> about 00:42:32.170 --> 00:42:32.180 align:start position:0% later but my talk this morning is about 00:42:32.180 --> 00:42:36.160 align:start position:0% later but my talk this morning is about a<00:42:32.950> brief<00:42:33.950> history<00:42:34.460> of<00:42:35.170> blockchain 00:42:36.160 --> 00:42:36.170 align:start position:0% a brief history of blockchain 00:42:36.170 --> 00:42:39.850 align:start position:0% a brief history of blockchain governments<00:42:37.040> so<00:42:37.460> this<00:42:38.420> is<00:42:38.630> this<00:42:38.780> as<00:42:39.080> the<00:42:39.470> title 00:42:39.850 --> 00:42:39.860 align:start position:0% governments so this is this as the title 00:42:39.860 --> 00:42:41.920 align:start position:0% governments so this is this as the title implies<00:42:40.070> this<00:42:40.640> is<00:42:40.820> by<00:42:40.970> no<00:42:41.000> means<00:42:41.210> going<00:42:41.690> to<00:42:41.810> be 00:42:41.920 --> 00:42:41.930 align:start position:0% implies this is by no means going to be 00:42:41.930 --> 00:42:43.320 align:start position:0% implies this is by no means going to be comprehensive 00:42:43.320 --> 00:42:43.330 align:start position:0% comprehensive 00:42:43.330 --> 00:42:45.850 align:start position:0% comprehensive although<00:42:44.330> watchings<00:42:44.900> have<00:42:45.230> only<00:42:45.410> been<00:42:45.650> around 00:42:45.850 --> 00:42:45.860 align:start position:0% although watchings have only been around 00:42:45.860 --> 00:42:50.770 align:start position:0% although watchings have only been around for<00:42:46.310> ten<00:42:46.610> years<00:42:46.990> ten<00:42:47.990> years<00:42:49.540> there's<00:42:50.540> been<00:42:50.750> a 00:42:50.770 --> 00:42:50.780 align:start position:0% for ten years ten years there's been a 00:42:50.780 --> 00:42:54.280 align:start position:0% for ten years ten years there's been a lot<00:42:51.020> of<00:42:51.140> really<00:42:51.470> interesting<00:42:52.120> events<00:42:53.140> as<00:42:54.140> it 00:42:54.280 --> 00:42:54.290 align:start position:0% lot of really interesting events as it 00:42:54.290 --> 00:42:57.310 align:start position:0% lot of really interesting events as it relates<00:42:54.590> to<00:42:54.740> governance<00:42:55.160> and<00:42:55.580> a<00:42:56.320> different 00:42:57.310 --> 00:42:57.320 align:start position:0% relates to governance and a different 00:42:57.320 --> 00:42:59.830 align:start position:0% relates to governance and a different block<00:42:57.530> chain<00:42:57.860> networks<00:42:58.580> and<00:42:58.910> so<00:42:59.210> I'm<00:42:59.510> going<00:42:59.750> to 00:42:59.830 --> 00:42:59.840 align:start position:0% block chain networks and so I'm going to 00:42:59.840 --> 00:43:04.120 align:start position:0% block chain networks and so I'm going to cover<00:43:00.050> just<00:43:00.890> a<00:43:01.430> brief<00:43:01.700> selection<00:43:02.030> of<00:43:03.130> some 00:43:04.120 --> 00:43:04.130 align:start position:0% cover just a brief selection of some 00:43:04.130 --> 00:43:05.680 align:start position:0% cover just a brief selection of some real<00:43:04.370> events<00:43:04.760> that<00:43:04.820> have<00:43:05.060> stood<00:43:05.300> out<00:43:05.420> to<00:43:05.660> me 00:43:05.680 --> 00:43:05.690 align:start position:0% real events that have stood out to me 00:43:05.690 --> 00:43:07.570 align:start position:0% real events that have stood out to me over<00:43:06.260> the<00:43:06.380> years<00:43:06.410> but<00:43:06.890> again<00:43:06.980> this<00:43:07.250> is<00:43:07.400> by<00:43:07.550> no 00:43:07.570 --> 00:43:07.580 align:start position:0% over the years but again this is by no 00:43:07.580 --> 00:43:09.190 align:start position:0% over the years but again this is by no means<00:43:07.910> comprehensive<00:43:08.210> if<00:43:08.690> we<00:43:08.780> could<00:43:08.960> probably 00:43:09.190 --> 00:43:09.200 align:start position:0% means comprehensive if we could probably 00:43:09.200 --> 00:43:15.250 align:start position:0% means comprehensive if we could probably talk<00:43:09.650> about<00:43:09.680> this<00:43:10.100> all<00:43:11.060> day<00:43:11.590> so<00:43:12.700> thank<00:43:13.700> you<00:43:13.820> so 00:43:15.250 --> 00:43:15.260 align:start position:0% talk about this all day so thank you so 00:43:15.260 --> 00:43:25.230 align:start position:0% talk about this all day so thank you so [Music] 00:43:25.230 --> 00:43:25.240 align:start position:0% 00:43:25.240 --> 00:43:30.460 align:start position:0% the<00:43:26.240> first<00:43:26.750> one<00:43:26.930> I'll<00:43:27.020> cover<00:43:27.370> was<00:43:28.370> the<00:43:29.000> CBE<00:43:29.690> by 00:43:30.460 --> 00:43:30.470 align:start position:0% the first one I'll cover was the CBE by 00:43:30.470 --> 00:43:36.480 align:start position:0% the first one I'll cover was the CBE by 2010<00:43:31.990> 51:39<00:43:32.990> southfork<00:43:33.800> in<00:43:33.950> August<00:43:34.760> of<00:43:34.910> 2010 00:43:36.480 --> 00:43:36.490 align:start position:0% 2010 51:39 southfork in August of 2010 00:43:36.490 --> 00:43:41.080 align:start position:0% 2010 51:39 southfork in August of 2010 so<00:43:37.690> this<00:43:38.690> was<00:43:38.930> a<00:43:39.230> bug<00:43:39.770> in<00:43:40.040> the<00:43:40.370> midpoint<00:43:40.520> that 00:43:41.080 --> 00:43:41.090 align:start position:0% so this was a bug in the midpoint that 00:43:41.090 --> 00:43:45.040 align:start position:0% so this was a bug in the midpoint that caused<00:43:41.360> about<00:43:41.840> 80<00:43:42.520> 184<00:43:43.520> million<00:43:43.730> Bitcoin<00:43:44.630> to 00:43:45.040 --> 00:43:45.050 align:start position:0% caused about 80 184 million Bitcoin to 00:43:45.050 --> 00:43:45.790 align:start position:0% caused about 80 184 million Bitcoin to be<00:43:45.170> created 00:43:45.790 --> 00:43:45.800 align:start position:0% be created 00:43:45.800 --> 00:43:48.370 align:start position:0% be created basically<00:43:46.670> someone<00:43:46.940> just<00:43:47.120> exploited<00:43:47.690> to 00:43:48.370 --> 00:43:48.380 align:start position:0% basically someone just exploited to 00:43:48.380 --> 00:43:51.250 align:start position:0% basically someone just exploited to create<00:43:48.680> some<00:43:48.830> transactions<00:43:49.490> that<00:43:50.260> created 00:43:51.250 --> 00:43:51.260 align:start position:0% create some transactions that created 00:43:51.260 --> 00:43:54.370 align:start position:0% create some transactions that created you<00:43:51.920> know<00:43:52.010> all<00:43:52.250> these<00:43:52.870> Bitcoin<00:43:53.870> out<00:43:54.080> of<00:43:54.200> thin 00:43:54.370 --> 00:43:54.380 align:start position:0% you know all these Bitcoin out of thin 00:43:54.380 --> 00:43:57.450 align:start position:0% you know all these Bitcoin out of thin air<00:43:54.410> and<00:43:54.820> people<00:43:55.820> notice<00:43:56.690> this<00:43:56.900> and<00:43:57.140> work 00:43:57.450 --> 00:43:57.460 align:start position:0% air and people notice this and work 00:43:57.460 --> 00:44:02.380 align:start position:0% air and people notice this and work understandably<00:43:58.460> alarmed<00:43:59.000> and<00:44:00.340> a<00:44:01.340> patch<00:44:02.120> was 00:44:02.380 --> 00:44:02.390 align:start position:0% understandably alarmed and a patch was 00:44:02.390 --> 00:44:04.270 align:start position:0% understandably alarmed and a patch was quickly<00:44:02.630> developed<00:44:03.230> and<00:44:03.380> circulated<00:44:04.040> in<00:44:04.160> the 00:44:04.270 --> 00:44:04.280 align:start position:0% quickly developed and circulated in the 00:44:04.280 --> 00:44:06.130 align:start position:0% quickly developed and circulated in the community<00:44:04.730> Satoshi 00:44:06.130 --> 00:44:06.140 align:start position:0% community Satoshi 00:44:06.140 --> 00:44:09.640 align:start position:0% community Satoshi gave<00:44:06.289> the<00:44:06.499> patch<00:44:06.710> his<00:44:06.950> blessing<00:44:07.369> and<00:44:08.230> and<00:44:09.230> it 00:44:09.640 --> 00:44:09.650 align:start position:0% gave the patch his blessing and and it 00:44:09.650 --> 00:44:13.509 align:start position:0% gave the patch his blessing and and it was<00:44:09.769> very<00:44:10.190> quickly<00:44:10.460> adopted<00:44:11.029> a<00:44:11.359> soft<00:44:12.289> fork<00:44:12.710> for 00:44:13.509 --> 00:44:13.519 align:start position:0% was very quickly adopted a soft fork for 00:44:13.519 --> 00:44:15.400 align:start position:0% was very quickly adopted a soft fork for those<00:44:13.640> who<00:44:13.789> are<00:44:13.880> familiar<00:44:14.029> with<00:44:14.329> the<00:44:14.539> term<00:44:14.749> is 00:44:15.400 --> 00:44:15.410 align:start position:0% those who are familiar with the term is 00:44:15.410 --> 00:44:19.839 align:start position:0% those who are familiar with the term is a<00:44:15.470> fork<00:44:15.890> that<00:44:16.430> restricts<00:44:17.329> the<00:44:17.660> ruleset<00:44:17.960> of<00:44:18.849> the 00:44:19.839 --> 00:44:19.849 align:start position:0% a fork that restricts the ruleset of the 00:44:19.849 --> 00:44:22.380 align:start position:0% a fork that restricts the ruleset of the consensus<00:44:20.450> rules<00:44:20.720> and<00:44:21.019> of<00:44:21.349> watch-chain<00:44:21.829> and 00:44:22.380 --> 00:44:22.390 align:start position:0% consensus rules and of watch-chain and 00:44:22.390 --> 00:44:23.549 align:start position:0% consensus rules and of watch-chain and [Music] 00:44:23.549 --> 00:44:23.559 align:start position:0% [Music] 00:44:23.559 --> 00:44:26.170 align:start position:0% [Music] in<00:44:24.559> such<00:44:24.829> a<00:44:24.859> way<00:44:25.069> that<00:44:25.099> it's<00:44:25.519> backwards<00:44:25.789> an 00:44:26.170 --> 00:44:26.180 align:start position:0% in such a way that it's backwards an 00:44:26.180 --> 00:44:31.390 align:start position:0% in such a way that it's backwards an apple<00:44:26.619> so<00:44:28.450> so<00:44:29.450> basically<00:44:30.220> transactions<00:44:31.220> that 00:44:31.390 --> 00:44:31.400 align:start position:0% apple so so basically transactions that 00:44:31.400 --> 00:44:33.700 align:start position:0% apple so so basically transactions that are<00:44:31.460> created<00:44:31.999> under<00:44:32.180> the<00:44:32.450> new<00:44:32.660> rule<00:44:33.019> set<00:44:33.349> are 00:44:33.700 --> 00:44:33.710 align:start position:0% are created under the new rule set are 00:44:33.710 --> 00:44:37.089 align:start position:0% are created under the new rule set are compatible<00:44:34.460> with<00:44:35.059> old<00:44:35.779> notes<00:44:36.289> that<00:44:36.710> have<00:44:36.890> not 00:44:37.089 --> 00:44:37.099 align:start position:0% compatible with old notes that have not 00:44:37.099 --> 00:44:41.670 align:start position:0% compatible with old notes that have not adopted<00:44:37.460> the<00:44:37.910> new<00:44:38.089> rule<00:44:38.420> set<00:44:38.690> yet<00:44:38.930> but 00:44:41.670 --> 00:44:41.680 align:start position:0% 00:44:41.680 --> 00:44:44.049 align:start position:0% transactions<00:44:42.680> that<00:44:42.890> violate<00:44:43.460> the<00:44:43.670> new<00:44:43.849> rule 00:44:44.049 --> 00:44:44.059 align:start position:0% transactions that violate the new rule 00:44:44.059 --> 00:44:46.569 align:start position:0% transactions that violate the new rule set<00:44:44.420> that<00:44:45.140> are<00:44:45.259> created<00:44:45.619> by<00:44:45.650> old<00:44:46.039> moves<00:44:46.309> are 00:44:46.569 --> 00:44:46.579 align:start position:0% set that are created by old moves are 00:44:46.579 --> 00:44:50.109 align:start position:0% set that are created by old moves are rejected<00:44:47.450> by<00:44:47.599> the<00:44:47.660> Dinos<00:44:48.279> so<00:44:49.279> basically<00:44:49.609> this 00:44:50.109 --> 00:44:50.119 align:start position:0% rejected by the Dinos so basically this 00:44:50.119 --> 00:44:52.900 align:start position:0% rejected by the Dinos so basically this this<00:44:50.509> this<00:44:50.809> fork<00:44:51.650> said<00:44:52.039> that<00:44:52.279> any 00:44:52.900 --> 00:44:52.910 align:start position:0% this this fork said that any 00:44:52.910 --> 00:44:56.910 align:start position:0% this this fork said that any transactions<00:44:53.630> that<00:44:53.869> create<00:44:54.739> these<00:44:55.599> 184<00:44:56.599> Billy 00:44:56.910 --> 00:44:56.920 align:start position:0% transactions that create these 184 Billy 00:44:56.920 --> 00:45:01.329 align:start position:0% transactions that create these 184 Billy Bitcoin<00:44:57.920> or<00:44:58.220> or<00:44:58.460> create<00:44:59.079> these<00:45:00.079> Overflow<00:45:00.980> are 00:45:01.329 --> 00:45:01.339 align:start position:0% Bitcoin or or create these Overflow are 00:45:01.339 --> 00:45:04.239 align:start position:0% Bitcoin or or create these Overflow are transactions<00:45:02.059> are<00:45:02.480> invalid<00:45:03.079> and<00:45:03.259> everything 00:45:04.239 --> 00:45:04.249 align:start position:0% transactions are invalid and everything 00:45:04.249 --> 00:45:07.749 align:start position:0% transactions are invalid and everything else<00:45:04.430> is<00:45:05.029> valid<00:45:05.480> and<00:45:06.230> they<00:45:07.069> basically<00:45:07.400> kind<00:45:07.670> of 00:45:07.749 --> 00:45:07.759 align:start position:0% else is valid and they basically kind of 00:45:07.759 --> 00:45:09.339 align:start position:0% else is valid and they basically kind of like<00:45:07.880> rolled<00:45:08.210> back<00:45:08.450> the<00:45:08.660> blockchain<00:45:09.140> to 00:45:09.339 --> 00:45:09.349 align:start position:0% like rolled back the blockchain to 00:45:09.349 --> 00:45:13.569 align:start position:0% like rolled back the blockchain to before<00:45:09.799> the<00:45:10.420> piece<00:45:11.980> behind<00:45:12.980> an<00:45:13.249> ad<00:45:13.369> for 00:45:13.569 --> 00:45:13.579 align:start position:0% before the piece behind an ad for 00:45:13.579 --> 00:45:16.210 align:start position:0% before the piece behind an ad for Bitcoin<00:45:13.970> were<00:45:14.720> created<00:45:15.140> included<00:45:15.980> all<00:45:16.130> the 00:45:16.210 --> 00:45:16.220 align:start position:0% Bitcoin were created included all the 00:45:16.220 --> 00:45:17.950 align:start position:0% Bitcoin were created included all the valid<00:45:16.609> transactions<00:45:17.180> and<00:45:17.390> then<00:45:17.480> continue<00:45:17.930> on 00:45:17.950 --> 00:45:17.960 align:start position:0% valid transactions and then continue on 00:45:17.960 --> 00:45:22.509 align:start position:0% valid transactions and then continue on from<00:45:18.559> there<00:45:19.869> and<00:45:20.869> this<00:45:21.619> was<00:45:21.799> kind<00:45:21.980> of<00:45:22.039> done<00:45:22.220> in 00:45:22.509 --> 00:45:22.519 align:start position:0% from there and this was kind of done in 00:45:22.519 --> 00:45:24.519 align:start position:0% from there and this was kind of done in and<00:45:22.670> I<00:45:22.759> think<00:45:22.940> in<00:45:23.089> kind<00:45:23.690> of<00:45:23.779> like<00:45:23.930> to<00:45:24.049> God<00:45:24.230> a 00:45:24.519 --> 00:45:24.529 align:start position:0% and I think in kind of like to God a 00:45:24.529 --> 00:45:29.680 align:start position:0% and I think in kind of like to God a very<00:45:25.160> good<00:45:25.339> community<00:45:25.819> driven<00:45:26.059> fashion<00:45:28.690> so 00:45:29.680 --> 00:45:29.690 align:start position:0% very good community driven fashion so 00:45:29.690 --> 00:45:32.440 align:start position:0% very good community driven fashion so this<00:45:29.839> is<00:45:29.960> the<00:45:30.109> patch<00:45:30.380> that<00:45:31.160> that<00:45:31.519> Satoshi 00:45:32.440 --> 00:45:32.450 align:start position:0% this is the patch that that Satoshi 00:45:32.450 --> 00:45:36.480 align:start position:0% this is the patch that that Satoshi I<00:45:32.480> published<00:45:33.140> and<00:45:33.410> put<00:45:34.339> out<00:45:34.490> and<00:45:35.260> the 00:45:36.480 --> 00:45:36.490 align:start position:0% I published and put out and the 00:45:36.490 --> 00:45:38.799 align:start position:0% I published and put out and the blockchain<00:45:37.490> pretty<00:45:38.029> quickly<00:45:38.240> over<00:45:38.599> it's<00:45:38.690> off 00:45:38.799 --> 00:45:38.809 align:start position:0% blockchain pretty quickly over it's off 00:45:38.809 --> 00:45:43.269 align:start position:0% blockchain pretty quickly over it's off the<00:45:38.960> bat<00:45:39.109> block<00:45:39.440> team<00:45:41.260> so<00:45:42.260> then<00:45:42.710> there<00:45:42.920> was<00:45:43.039> the 00:45:43.269 --> 00:45:43.279 align:start position:0% the bat block team so then there was the 00:45:43.279 --> 00:45:46.539 align:start position:0% the bat block team so then there was the one<00:45:43.849> megabyte<00:45:44.269> block<00:45:44.630> size<00:45:45.079> limit<00:45:45.349> southport 00:45:46.539 --> 00:45:46.549 align:start position:0% one megabyte block size limit southport 00:45:46.549 --> 00:45:51.309 align:start position:0% one megabyte block size limit southport in<00:45:46.910> 2010<00:45:48.640> September<00:45:49.640> 2010<00:45:50.059> so<00:45:50.599> this<00:45:50.960> one<00:45:51.140> was 00:45:51.309 --> 00:45:51.319 align:start position:0% in 2010 September 2010 so this one was 00:45:51.319 --> 00:45:52.960 align:start position:0% in 2010 September 2010 so this one was done<00:45:51.349> kind<00:45:51.769> of<00:45:51.829> quietly<00:45:52.160> that's<00:45:52.549> good<00:45:52.760> so<00:45:52.880> she 00:45:52.960 --> 00:45:52.970 align:start position:0% done kind of quietly that's good so she 00:45:52.970 --> 00:45:54.640 align:start position:0% done kind of quietly that's good so she didn't<00:45:53.240> really<00:45:53.329> announce<00:45:53.690> it<00:45:53.869> he<00:45:54.140> just<00:45:54.289> kind 00:45:54.640 --> 00:45:54.650 align:start position:0% didn't really announce it he just kind 00:45:54.650 --> 00:45:57.549 align:start position:0% didn't really announce it he just kind of<00:45:54.680> like<00:45:54.799> published<00:45:55.309> this<00:45:56.410> made<00:45:57.410> this 00:45:57.549 --> 00:45:57.559 align:start position:0% of like published this made this 00:45:57.559 --> 00:45:59.170 align:start position:0% of like published this made this commitment<00:45:57.859> the<00:45:58.099> code<00:45:58.279> base<00:45:58.460> and<00:45:58.760> then<00:45:58.940> pushed 00:45:59.170 --> 00:45:59.180 align:start position:0% commitment the code base and then pushed 00:45:59.180 --> 00:46:03.519 align:start position:0% commitment the code base and then pushed it<00:45:59.299> out<00:45:59.390> people<00:46:00.049> adopted<00:46:00.589> it<00:46:00.760> it<00:46:01.760> was<00:46:02.529> bundled 00:46:03.519 --> 00:46:03.529 align:start position:0% it out people adopted it it was bundled 00:46:03.529 --> 00:46:06.370 align:start position:0% it out people adopted it it was bundled as<00:46:03.769> a<00:46:03.950> soft<00:46:04.250> fork<00:46:04.609> again<00:46:05.019> along<00:46:06.019> with<00:46:06.079> some 00:46:06.370 --> 00:46:06.380 align:start position:0% as a soft fork again along with some 00:46:06.380 --> 00:46:09.099 align:start position:0% as a soft fork again along with some unrelated<00:46:06.799> changes<00:46:07.390> and<00:46:08.390> then<00:46:08.569> it<00:46:08.930> was 00:46:09.099 --> 00:46:09.109 align:start position:0% unrelated changes and then it was 00:46:09.109 --> 00:46:10.900 align:start position:0% unrelated changes and then it was scheduled<00:46:09.529> to<00:46:09.589> activate<00:46:10.130> at<00:46:10.339> a<00:46:10.369> specific 00:46:10.900 --> 00:46:10.910 align:start position:0% scheduled to activate at a specific 00:46:10.910 --> 00:46:13.480 align:start position:0% scheduled to activate at a specific block<00:46:11.119> height<00:46:11.390> so<00:46:11.720> once<00:46:11.930> the<00:46:12.109> block<00:46:12.319> ID<00:46:12.619> was 00:46:13.480 --> 00:46:13.490 align:start position:0% block height so once the block ID was 00:46:13.490 --> 00:46:17.019 align:start position:0% block height so once the block ID was reached<00:46:13.760> in<00:46:14.059> the<00:46:14.210> blockchain<00:46:15.220> the<00:46:16.220> soft<00:46:16.789> board 00:46:17.019 --> 00:46:17.029 align:start position:0% reached in the blockchain the soft board 00:46:17.029 --> 00:46:19.900 align:start position:0% reached in the blockchain the soft board activated<00:46:17.630> and<00:46:18.069> from<00:46:19.069> that<00:46:19.190> point<00:46:19.400> forward 00:46:19.900 --> 00:46:19.910 align:start position:0% activated and from that point forward 00:46:19.910 --> 00:46:21.579 align:start position:0% activated and from that point forward no<00:46:20.180> blocks<00:46:20.450> could<00:46:20.660> be<00:46:20.809> created<00:46:21.260> that<00:46:21.410> we're 00:46:21.579 --> 00:46:21.589 align:start position:0% no blocks could be created that we're 00:46:21.589 --> 00:46:23.980 align:start position:0% no blocks could be created that we're bigger<00:46:21.769> than<00:46:21.980> one<00:46:22.130> leg<00:46:22.309> quite<00:46:22.750> so<00:46:23.750> this<00:46:23.869> was 00:46:23.980 --> 00:46:23.990 align:start position:0% bigger than one leg quite so this was 00:46:23.990 --> 00:46:26.319 align:start position:0% bigger than one leg quite so this was time<00:46:24.200> done<00:46:24.470> basically<00:46:24.980> by<00:46:25.069> Satoshi<00:46:25.609> almost<00:46:26.210> in 00:46:26.319 --> 00:46:26.329 align:start position:0% time done basically by Satoshi almost in 00:46:26.329 --> 00:46:30.099 align:start position:0% time done basically by Satoshi almost in secret<00:46:27.849> and<00:46:28.849> this<00:46:29.000> is<00:46:29.150> the<00:46:29.240> exact<00:46:29.569> code<00:46:29.839> where 00:46:30.099 --> 00:46:30.109 align:start position:0% secret and this is the exact code where 00:46:30.109 --> 00:46:32.789 align:start position:0% secret and this is the exact code where it<00:46:30.170> adds<00:46:30.289> this<00:46:30.589> limit<00:46:31.309> so<00:46:31.579> you<00:46:31.609> can<00:46:31.760> see<00:46:32.119> that 00:46:32.789 --> 00:46:32.799 align:start position:0% it adds this limit so you can see that 00:46:32.799 --> 00:46:36.279 align:start position:0% it adds this limit so you can see that there<00:46:33.799> you<00:46:34.130> can<00:46:34.279> see<00:46:34.430> if<00:46:34.730> the<00:46:35.720> network<00:46:35.930> height 00:46:36.279 --> 00:46:36.289 align:start position:0% there you can see if the network height 00:46:36.289 --> 00:46:38.529 align:start position:0% there you can see if the network height is<00:46:36.559> greater<00:46:36.799> than<00:46:37.160> seventy<00:46:37.970> nine<00:46:38.119> thousand 00:46:38.529 --> 00:46:38.539 align:start position:0% is greater than seventy nine thousand 00:46:38.539 --> 00:46:42.339 align:start position:0% is greater than seventy nine thousand four<00:46:38.690> hundred<00:46:38.809> blocks<00:46:39.200> then<00:46:40.960> and<00:46:41.960> the<00:46:42.109> block 00:46:42.339 --> 00:46:42.349 align:start position:0% four hundred blocks then and the block 00:46:42.349 --> 00:46:44.440 align:start position:0% four hundred blocks then and the block size<00:46:42.589> is<00:46:42.619> bigger<00:46:43.009> than<00:46:43.220> the<00:46:43.369> max<00:46:43.579> block<00:46:43.819> size<00:46:44.059> a 00:46:44.440 --> 00:46:44.450 align:start position:0% size is bigger than the max block size a 00:46:44.450 --> 00:46:48.370 align:start position:0% size is bigger than the max block size a constant<00:46:45.200> and<00:46:45.700> you<00:46:46.809> get<00:46:47.809> it<00:46:47.930> returned<00:46:48.259> in 00:46:48.370 --> 00:46:48.380 align:start position:0% constant and you get it returned in 00:46:48.380 --> 00:46:51.039 align:start position:0% constant and you get it returned in error<00:46:49.150> but<00:46:50.150> yeah<00:46:50.240> this<00:46:50.390> was<00:46:50.450> done<00:46:50.750> kind<00:46:51.019> of 00:46:51.039 --> 00:46:51.049 align:start position:0% error but yeah this was done kind of 00:46:51.049 --> 00:46:53.349 align:start position:0% error but yeah this was done kind of sireesha<00:46:51.500> Slee<00:46:51.859> so<00:46:52.339> Toshi<00:46:52.519> did<00:46:52.819> this<00:46:52.970> a<00:46:53.000> couple 00:46:53.349 --> 00:46:53.359 align:start position:0% sireesha Slee so Toshi did this a couple 00:46:53.359 --> 00:46:55.059 align:start position:0% sireesha Slee so Toshi did this a couple of<00:46:53.420> times<00:46:53.660> too<00:46:54.049> he<00:46:54.529> just<00:46:54.710> kind<00:46:54.920> of<00:46:54.950> like 00:46:55.059 --> 00:46:55.069 align:start position:0% of times too he just kind of like 00:46:55.069 --> 00:46:56.160 align:start position:0% of times too he just kind of like slipped<00:46:55.339> in<00:46:55.519> consents 00:46:56.160 --> 00:46:56.170 align:start position:0% slipped in consents 00:46:56.170 --> 00:46:59.789 align:start position:0% slipped in consents rule<00:46:56.770> changes<00:46:58.020> so<00:46:59.020> that<00:46:59.049> it<00:46:59.230> wouldn't<00:46:59.530> be<00:46:59.619> too 00:46:59.789 --> 00:46:59.799 align:start position:0% rule changes so that it wouldn't be too 00:46:59.799 --> 00:47:01.170 align:start position:0% rule changes so that it wouldn't be too controversial<00:47:00.280> and<00:47:00.640> they<00:47:00.730> wouldn't<00:47:00.910> have<00:47:00.970> to 00:47:01.170 --> 00:47:01.180 align:start position:0% controversial and they wouldn't have to 00:47:01.180 --> 00:47:06.180 align:start position:0% controversial and they wouldn't have to you<00:47:02.049> know<00:47:02.280> debated<00:47:04.410> so<00:47:05.410> they<00:47:05.710> said<00:47:05.950> then<00:47:06.069> there 00:47:06.180 --> 00:47:06.190 align:start position:0% you know debated so they said then there 00:47:06.190 --> 00:47:07.530 align:start position:0% you know debated so they said then there was<00:47:06.309> a<00:47:06.339> proposal<00:47:06.760> to<00:47:06.910> increase<00:47:07.180> the<00:47:07.390> block 00:47:07.530 --> 00:47:07.540 align:start position:0% was a proposal to increase the block 00:47:07.540 --> 00:47:08.940 align:start position:0% was a proposal to increase the block size<00:47:07.599> limit<00:47:07.839> because<00:47:08.290> people<00:47:08.559> were<00:47:08.650> like<00:47:08.799> this 00:47:08.940 --> 00:47:08.950 align:start position:0% size limit because people were like this 00:47:08.950 --> 00:47:10.980 align:start position:0% size limit because people were like this is<00:47:09.130> a<00:47:09.160> kind<00:47:09.400> of<00:47:09.430> scale<00:47:09.700> so<00:47:09.910> of<00:47:10.299> course<00:47:10.480> once<00:47:10.780> the 00:47:10.980 --> 00:47:10.990 align:start position:0% is a kind of scale so of course once the 00:47:10.990 --> 00:47:13.410 align:start position:0% is a kind of scale so of course once the block<00:47:11.290> size<00:47:11.500> limit<00:47:11.530> was<00:47:12.099> activated 00:47:13.410 --> 00:47:13.420 align:start position:0% block size limit was activated 00:47:13.420 --> 00:47:15.240 align:start position:0% block size limit was activated you<00:47:13.839> get<00:47:13.990> people<00:47:14.380> dependent<00:47:14.859> kind<00:47:15.040> of<00:47:15.099> talk 00:47:15.240 --> 00:47:15.250 align:start position:0% you get people dependent kind of talk 00:47:15.250 --> 00:47:17.370 align:start position:0% you get people dependent kind of talk about<00:47:15.430> it<00:47:15.579> in<00:47:15.670> public<00:47:15.819> and<00:47:16.210> so<00:47:16.930> Jeff<00:47:17.140> Garcia 00:47:17.370 --> 00:47:17.380 align:start position:0% about it in public and so Jeff Garcia 00:47:17.380 --> 00:47:19.230 align:start position:0% about it in public and so Jeff Garcia comes<00:47:17.799> along<00:47:18.040> and<00:47:18.190> he<00:47:18.280> said<00:47:18.520> he<00:47:18.730> introduces<00:47:19.119> a 00:47:19.230 --> 00:47:19.240 align:start position:0% comes along and he said he introduces a 00:47:19.240 --> 00:47:21.210 align:start position:0% comes along and he said he introduces a patch<00:47:19.540> that<00:47:20.140> would<00:47:20.290> enable<00:47:20.470> Bitcoin<00:47:20.980> to 00:47:21.210 --> 00:47:21.220 align:start position:0% patch that would enable Bitcoin to 00:47:21.220 --> 00:47:25.049 align:start position:0% patch that would enable Bitcoin to miners<00:47:21.910> to<00:47:22.270> produce<00:47:23.170> as<00:47:23.500> a<00:47:23.890> type<00:47:24.520> of<00:47:24.549> produce 00:47:25.049 --> 00:47:25.059 align:start position:0% miners to produce as a type of produce 00:47:25.059 --> 00:47:26.970 align:start position:0% miners to produce as a type of produce valid<00:47:25.510> blocks<00:47:25.780> larger<00:47:26.260> than<00:47:26.440> one<00:47:26.619> megabyte 00:47:26.970 --> 00:47:26.980 align:start position:0% valid blocks larger than one megabyte 00:47:26.980 --> 00:47:30.539 align:start position:0% valid blocks larger than one megabyte and<00:47:28.410> the<00:47:29.410> community<00:47:29.859> kind<00:47:30.099> of<00:47:30.160> pushes<00:47:30.400> back 00:47:30.539 --> 00:47:30.549 align:start position:0% and the community kind of pushes back 00:47:30.549 --> 00:47:33.930 align:start position:0% and the community kind of pushes back and<00:47:30.880> says<00:47:31.030> hey<00:47:31.240> people<00:47:31.960> don't<00:47:32.440> like<00:47:32.940> download 00:47:33.930 --> 00:47:33.940 align:start position:0% and says hey people don't like download 00:47:33.940 --> 00:47:35.819 align:start position:0% and says hey people don't like download the<00:47:34.119> install<00:47:34.809> you're<00:47:35.530> gonna<00:47:35.680> become 00:47:35.819 --> 00:47:35.829 align:start position:0% the install you're gonna become 00:47:35.829 --> 00:47:37.470 align:start position:0% the install you're gonna become incompatible<00:47:36.430> with<00:47:36.730> the<00:47:36.849> network<00:47:37.180> because<00:47:37.390> it 00:47:37.470 --> 00:47:37.480 align:start position:0% incompatible with the network because it 00:47:37.480 --> 00:47:39.059 align:start position:0% incompatible with the network because it would<00:47:37.599> be<00:47:37.690> as<00:47:37.809> hard<00:47:38.290> for<00:47:38.530> it<00:47:38.589> at<00:47:38.680> that<00:47:38.829> point 00:47:39.059 --> 00:47:39.069 align:start position:0% would be as hard for it at that point 00:47:39.069 --> 00:47:41.190 align:start position:0% would be as hard for it at that point wouldn't<00:47:39.430> be<00:47:39.579> backwards<00:47:40.000> compatible<00:47:40.510> and<00:47:40.809> so 00:47:41.190 --> 00:47:41.200 align:start position:0% wouldn't be backwards compatible and so 00:47:41.200 --> 00:47:43.079 align:start position:0% wouldn't be backwards compatible and so the<00:47:41.319> network<00:47:41.619> would<00:47:41.770> split<00:47:42.069> is<00:47:42.309> basically 00:47:43.079 --> 00:47:43.089 align:start position:0% the network would split is basically 00:47:43.089 --> 00:47:45.780 align:start position:0% the network would split is basically everybody<00:47:43.599> did<00:47:43.839> not<00:47:44.250> install<00:47:45.250> it<00:47:45.430> at<00:47:45.520> the<00:47:45.640> same 00:47:45.780 --> 00:47:45.790 align:start position:0% everybody did not install it at the same 00:47:45.790 --> 00:47:49.650 align:start position:0% everybody did not install it at the same time<00:47:46.290> so<00:47:47.290> Toshi<00:47:47.500> kind<00:47:47.890> of<00:47:47.950> it<00:47:48.430> also<00:47:48.670> pushes 00:47:49.650 --> 00:47:49.660 align:start position:0% time so Toshi kind of it also pushes 00:47:49.660 --> 00:47:53.370 align:start position:0% time so Toshi kind of it also pushes back<00:47:49.930> on<00:47:49.990> the<00:47:50.200> idea<00:47:50.579> so<00:47:51.579> Toshi<00:47:51.790> says<00:47:52.260> if<00:47:53.260> this 00:47:53.370 --> 00:47:53.380 align:start position:0% back on the idea so Toshi says if this 00:47:53.380 --> 00:47:54.960 align:start position:0% back on the idea so Toshi says if this is<00:47:53.829> gonna<00:47:53.950> make<00:47:54.099> you<00:47:54.220> incompatible<00:47:54.790> with<00:47:54.880> the 00:47:54.960 --> 00:47:54.970 align:start position:0% is gonna make you incompatible with the 00:47:54.970 --> 00:47:57.299 align:start position:0% is gonna make you incompatible with the network<00:47:55.270> don't<00:47:55.510> run<00:47:55.660> it<00:47:55.809> but<00:47:56.799> here's<00:47:57.040> how<00:47:57.160> it 00:47:57.299 --> 00:47:57.309 align:start position:0% network don't run it but here's how it 00:47:57.309 --> 00:47:57.839 align:start position:0% network don't run it but here's how it couldn't<00:47:57.520> be<00:47:57.579> done 00:47:57.839 --> 00:47:57.849 align:start position:0% couldn't be done 00:47:57.849 --> 00:47:59.880 align:start position:0% couldn't be done however<00:47:58.450> it<00:47:58.809> was<00:47:59.200> never<00:47:59.349> done<00:47:59.589> the<00:47:59.770> way<00:47:59.859> that 00:47:59.880 --> 00:47:59.890 align:start position:0% however it was never done the way that 00:47:59.890 --> 00:48:03.030 align:start position:0% however it was never done the way that since<00:48:00.309> I<00:48:00.430> she<00:48:00.579> suggested<00:48:01.359> it<00:48:01.480> so<00:48:01.900> the<00:48:02.890> one 00:48:03.030 --> 00:48:03.040 align:start position:0% since I she suggested it so the one 00:48:03.040 --> 00:48:06.240 align:start position:0% since I she suggested it so the one megabyte<00:48:03.430> limit<00:48:04.440> persisted<00:48:05.440> for<00:48:05.650> quite<00:48:06.099> some 00:48:06.240 --> 00:48:06.250 align:start position:0% megabyte limit persisted for quite some 00:48:06.250 --> 00:48:08.280 align:start position:0% megabyte limit persisted for quite some time<00:48:06.460> and<00:48:06.760> we'll<00:48:07.540> talk<00:48:07.720> about<00:48:07.839> how<00:48:08.020> that<00:48:08.049> says 00:48:08.280 --> 00:48:08.290 align:start position:0% time and we'll talk about how that says 00:48:08.290 --> 00:48:10.109 align:start position:0% time and we'll talk about how that says that<00:48:08.470> that<00:48:08.619> big<00:48:08.740> one<00:48:08.950> over<00:48:08.980> the<00:48:09.190> years<00:48:09.369> so 00:48:10.109 --> 00:48:10.119 align:start position:0% that that big one over the years so 00:48:10.119 --> 00:48:11.990 align:start position:0% that that big one over the years so here's<00:48:10.420> you<00:48:10.869> know<00:48:10.960> Jeff<00:48:11.230> Karthik's<00:48:11.740> post 00:48:11.990 --> 00:48:12.000 align:start position:0% here's you know Jeff Karthik's post 00:48:12.000 --> 00:48:14.339 align:start position:0% here's you know Jeff Karthik's post saying<00:48:13.000> like<00:48:13.210> oh<00:48:13.359> this<00:48:13.690> is<00:48:13.839> how<00:48:13.960> we<00:48:14.020> could<00:48:14.230> do 00:48:14.339 --> 00:48:14.349 align:start position:0% saying like oh this is how we could do 00:48:14.349 --> 00:48:17.609 align:start position:0% saying like oh this is how we could do it<00:48:14.500> and<00:48:15.490> then<00:48:15.700> Satoshi<00:48:16.119> is<00:48:16.270> like<00:48:16.599> don't<00:48:17.470> use 00:48:17.609 --> 00:48:17.619 align:start position:0% it and then Satoshi is like don't use 00:48:17.619 --> 00:48:21.150 align:start position:0% it and then Satoshi is like don't use this<00:48:17.770> patch<00:48:18.510> you<00:48:19.510> if<00:48:19.869> you<00:48:20.349> install<00:48:20.859> it<00:48:21.010> you 00:48:21.150 --> 00:48:21.160 align:start position:0% this patch you if you install it you 00:48:21.160 --> 00:48:22.710 align:start position:0% this patch you if you install it you will<00:48:21.369> make<00:48:21.609> yourself<00:48:21.970> a<00:48:22.059> compatible<00:48:22.540> the 00:48:22.710 --> 00:48:22.720 align:start position:0% will make yourself a compatible the 00:48:22.720 --> 00:48:25.440 align:start position:0% will make yourself a compatible the network<00:48:23.049> to<00:48:23.559> your<00:48:23.740> own<00:48:23.950> detriment<00:48:24.490> we<00:48:25.299> can 00:48:25.440 --> 00:48:25.450 align:start position:0% network to your own detriment we can 00:48:25.450 --> 00:48:26.609 align:start position:0% network to your own detriment we can feign<00:48:25.630> something<00:48:25.900> to<00:48:25.990> change<00:48:26.140> later<00:48:26.410> of 00:48:26.609 --> 00:48:26.619 align:start position:0% feign something to change later of 00:48:26.619 --> 00:48:30.480 align:start position:0% feign something to change later of course<00:48:26.770> if<00:48:27.339> we<00:48:27.609> invoke<00:48:27.940> certain<00:48:28.119> eating<00:48:28.599> it<00:48:29.490> so 00:48:30.480 --> 00:48:30.490 align:start position:0% course if we invoke certain eating it so 00:48:30.490 --> 00:48:32.460 align:start position:0% course if we invoke certain eating it so then<00:48:31.000> there<00:48:31.150> was<00:48:31.240> the<00:48:31.420> mid-30s<00:48:32.290> south 00:48:32.460 --> 00:48:32.470 align:start position:0% then there was the mid-30s south 00:48:32.470 --> 00:48:34.079 align:start position:0% then there was the mid-30s south born-again<00:48:33.309> ass<00:48:33.430> off<00:48:33.609> the<00:48:33.730> board 00:48:34.079 --> 00:48:34.089 align:start position:0% born-again ass off the board 00:48:34.089 --> 00:48:36.750 align:start position:0% born-again ass off the board whereas<00:48:34.869> before<00:48:35.140> Satoshi<00:48:35.859> would<00:48:36.160> activate<00:48:36.609> it 00:48:36.750 --> 00:48:36.760 align:start position:0% whereas before Satoshi would activate it 00:48:36.760 --> 00:48:38.850 align:start position:0% whereas before Satoshi would activate it by<00:48:36.910> block<00:48:37.150> height<00:48:37.450> this<00:48:37.930> one<00:48:38.170> was<00:48:38.319> activate 00:48:38.850 --> 00:48:38.860 align:start position:0% by block height this one was activate 00:48:38.860 --> 00:48:41.670 align:start position:0% by block height this one was activate by<00:48:38.950> kind<00:48:39.190> of<00:48:39.220> a<00:48:39.310> flag<00:48:39.550> days<00:48:39.850> so<00:48:40.300> it<00:48:41.260> was<00:48:41.440> based 00:48:41.670 --> 00:48:41.680 align:start position:0% by kind of a flag days so it was based 00:48:41.680 --> 00:48:43.110 align:start position:0% by kind of a flag days so it was based on<00:48:41.800> the<00:48:41.890> time<00:48:42.130> stamp<00:48:42.160> that<00:48:42.580> a<00:48:42.730> walk<00:48:42.910> was 00:48:43.110 --> 00:48:43.120 align:start position:0% on the time stamp that a walk was 00:48:43.120 --> 00:48:44.730 align:start position:0% on the time stamp that a walk was created<00:48:43.570> rather<00:48:43.780> than<00:48:44.050> the<00:48:44.170> exact<00:48:44.470> walk 00:48:44.730 --> 00:48:44.740 align:start position:0% created rather than the exact walk 00:48:44.740 --> 00:48:49.230 align:start position:0% created rather than the exact walk height<00:48:45.480> it's<00:48:46.480> 30<00:48:46.780> I<00:48:47.770> think<00:48:48.760> this<00:48:49.090> was 00:48:49.230 --> 00:48:49.240 align:start position:0% height it's 30 I think this was 00:48:49.240 --> 00:48:51.780 align:start position:0% height it's 30 I think this was basically<00:48:49.420> a<00:48:49.600> change<00:48:49.900> that<00:48:49.990> prevented<00:48:50.790> two 00:48:51.780 --> 00:48:51.790 align:start position:0% basically a change that prevented two 00:48:51.790 --> 00:48:53.130 align:start position:0% basically a change that prevented two transactions<00:48:52.390> for<00:48:52.600> having<00:48:52.870> the<00:48:52.930> same 00:48:53.130 --> 00:48:53.140 align:start position:0% transactions for having the same 00:48:53.140 --> 00:48:55.200 align:start position:0% transactions for having the same transaction<00:48:53.740> ID<00:48:53.890> with<00:48:54.490> the<00:48:54.580> exception<00:48:55.090> of<00:48:55.150> two 00:48:55.200 --> 00:48:55.210 align:start position:0% transaction ID with the exception of two 00:48:55.210 --> 00:48:57.030 align:start position:0% transaction ID with the exception of two specific<00:48:55.570> blocks<00:48:56.110> that<00:48:56.380> they<00:48:56.560> didn't<00:48:56.830> want<00:48:56.980> to 00:48:57.030 --> 00:48:57.040 align:start position:0% specific blocks that they didn't want to 00:48:57.040 --> 00:49:00.150 align:start position:0% specific blocks that they didn't want to have<00:48:57.310> to<00:48:57.520> like<00:48:57.700> refer<00:48:58.240> about<00:48:59.170> transactional 00:49:00.150 --> 00:49:00.160 align:start position:0% have to like refer about transactional 00:49:00.160 --> 00:49:02.850 align:start position:0% have to like refer about transactional is<00:49:00.250> confirmed<00:49:00.610> in<00:49:00.760> the<00:49:00.820> past<00:49:01.030> but<00:49:01.780> from<00:49:02.410> after 00:49:02.850 --> 00:49:02.860 align:start position:0% is confirmed in the past but from after 00:49:02.860 --> 00:49:05.280 align:start position:0% is confirmed in the past but from after it<00:49:03.280> 30<00:49:04.090> was<00:49:04.240> activated<00:49:04.780> from<00:49:04.960> that<00:49:05.110> point 00:49:05.280 --> 00:49:05.290 align:start position:0% it 30 was activated from that point 00:49:05.290 --> 00:49:07.650 align:start position:0% it 30 was activated from that point forward<00:49:05.500> two<00:49:05.860> transactions<00:49:06.520> could<00:49:07.030> have<00:49:07.540> the 00:49:07.650 --> 00:49:07.660 align:start position:0% forward two transactions could have the 00:49:07.660 --> 00:49:10.980 align:start position:0% forward two transactions could have the same<00:49:07.840> transaction<00:49:08.410> ID<00:49:09.570> and<00:49:10.570> so<00:49:10.750> this<00:49:10.870> was 00:49:10.980 --> 00:49:10.990 align:start position:0% same transaction ID and so this was 00:49:10.990 --> 00:49:14.310 align:start position:0% same transaction ID and so this was activated<00:49:11.560> on<00:49:11.860> a<00:49:11.890> specific<00:49:12.400> day<00:49:12.840> and<00:49:13.840> it<00:49:14.110> says 00:49:14.310 --> 00:49:14.320 align:start position:0% activated on a specific day and it says 00:49:14.320 --> 00:49:16.560 align:start position:0% activated on a specific day and it says right<00:49:15.070> here<00:49:15.130> like<00:49:15.520> this<00:49:15.700> rule<00:49:15.970> applies<00:49:16.330> to<00:49:16.360> all 00:49:16.560 --> 00:49:16.570 align:start position:0% right here like this rule applies to all 00:49:16.570 --> 00:49:18.510 align:start position:0% right here like this rule applies to all blocks<00:49:17.020> whose<00:49:17.260> time<00:49:17.530> stamp<00:49:17.770> is<00:49:17.920> after<00:49:18.280> March 00:49:18.510 --> 00:49:18.520 align:start position:0% blocks whose time stamp is after March 00:49:18.520 --> 00:49:24.210 align:start position:0% blocks whose time stamp is after March 15<00:49:19.030> 2012<00:49:19.540> at<00:49:19.900> 0-0<00:49:20.290> UTC<00:49:22.890> and<00:49:23.890> that<00:49:24.070> was 00:49:24.210 --> 00:49:24.220 align:start position:0% 15 2012 at 0-0 UTC and that was 00:49:24.220 --> 00:49:27.930 align:start position:0% 15 2012 at 0-0 UTC and that was published<00:49:24.790> by<00:49:24.850> Peter<00:49:25.150> wheeler<00:49:26.160> so<00:49:27.160> then<00:49:27.760> there 00:49:27.930 --> 00:49:27.940 align:start position:0% published by Peter wheeler so then there 00:49:27.940 --> 00:49:30.930 align:start position:0% published by Peter wheeler so then there was<00:49:28.030> the<00:49:28.180> fifty<00:49:28.960> hard<00:49:29.350> work<00:49:29.590> and<00:49:30.250> 2013<00:49:30.820> no 00:49:30.930 --> 00:49:30.940 align:start position:0% was the fifty hard work and 2013 no 00:49:30.940 --> 00:49:32.490 align:start position:0% was the fifty hard work and 2013 no notice<00:49:31.240> most<00:49:31.420> of<00:49:31.540> this<00:49:31.660> is<00:49:31.810> Bitcoin<00:49:32.020> because 00:49:32.490 --> 00:49:32.500 align:start position:0% notice most of this is Bitcoin because 00:49:32.500 --> 00:49:34.140 align:start position:0% notice most of this is Bitcoin because like<00:49:32.710> Bitcoin<00:49:33.130> was<00:49:33.250> really<00:49:33.490> the<00:49:33.610> only<00:49:33.820> coin<00:49:33.970> of 00:49:34.140 --> 00:49:34.150 align:start position:0% like Bitcoin was really the only coin of 00:49:34.150 --> 00:49:35.790 align:start position:0% like Bitcoin was really the only coin of significance<00:49:34.690> at<00:49:34.840> this<00:49:34.960> point 00:49:35.790 --> 00:49:35.800 align:start position:0% significance at this point 00:49:35.800 --> 00:49:38.900 align:start position:0% significance at this point sorry<00:49:36.520> to<00:49:36.640> all<00:49:36.670> points<00:49:37.110> so<00:49:38.110> then<00:49:38.440> there<00:49:38.560> was<00:49:38.680> a 00:49:38.900 --> 00:49:38.910 align:start position:0% sorry to all points so then there was a 00:49:38.910 --> 00:49:44.310 align:start position:0% sorry to all points so then there was a 50-word<00:49:39.910> fort<00:49:40.180> in<00:49:41.130> 2013<00:49:42.480> to<00:49:43.480> March<00:49:43.600> May<00:49:43.870> 13th 00:49:44.310 --> 00:49:44.320 align:start position:0% 50-word fort in 2013 to March May 13th 00:49:44.320 --> 00:49:46.730 align:start position:0% 50-word fort in 2013 to March May 13th so<00:49:44.530> this<00:49:44.680> was<00:49:44.860> kind<00:49:45.340> of<00:49:45.430> the<00:49:45.490> first<00:49:45.790> like<00:49:46.030> big 00:49:46.730 --> 00:49:46.740 align:start position:0% so this was kind of the first like big 00:49:46.740 --> 00:49:51.990 align:start position:0% so this was kind of the first like big bug<00:49:49.860> like<00:49:50.860> this<00:49:51.010> was<00:49:51.160> around<00:49:51.640> the<00:49:51.790> time<00:49:51.850> that 00:49:51.990 --> 00:49:52.000 align:start position:0% bug like this was around the time that 00:49:52.000 --> 00:49:54.960 align:start position:0% bug like this was around the time that bit<00:49:52.270> when<00:49:52.420> I<00:49:52.450> shot<00:49:52.660> up<00:49:52.780> to<00:49:52.930> like<00:49:53.100> 150<00:49:54.100> 200<00:49:54.490> L<00:49:54.820> or 00:49:54.960 --> 00:49:54.970 align:start position:0% bit when I shot up to like 150 200 L or 00:49:54.970 --> 00:49:57.900 align:start position:0% bit when I shot up to like 150 200 L or something<00:49:55.240> like<00:49:55.300> that<00:49:56.400> so<00:49:57.400> it<00:49:57.460> was<00:49:57.550> happening 00:49:57.900 --> 00:49:57.910 align:start position:0% something like that so it was happening 00:49:57.910 --> 00:49:59.940 align:start position:0% something like that so it was happening in<00:49:58.000> a<00:49:58.060> lot<00:49:58.090> of<00:49:58.240> like<00:49:58.570> and<00:49:58.840> a<00:49:59.170> lot<00:49:59.230> of<00:49:59.530> like<00:49:59.710> price 00:49:59.940 --> 00:49:59.950 align:start position:0% in a lot of like and a lot of like price 00:49:59.950 --> 00:50:00.390 align:start position:0% in a lot of like and a lot of like price drama 00:50:00.390 --> 00:50:00.400 align:start position:0% drama 00:50:00.400 --> 00:50:04.850 align:start position:0% drama bid<00:50:01.240> 15<00:50:01.660> AK<00:50:02.610> there<00:50:03.610> was<00:50:03.730> a<00:50:03.760> there<00:50:04.150> was<00:50:04.180> a<00:50:04.300> bug 00:50:04.850 --> 00:50:04.860 align:start position:0% bid 15 AK there was a there was a bug 00:50:04.860 --> 00:50:07.980 align:start position:0% bid 15 AK there was a there was a bug called<00:50:05.860> the<00:50:05.950> Murphy<00:50:06.700> DB<00:50:07.060> bug<00:50:07.360> that<00:50:07.630> caused<00:50:07.900> a 00:50:07.980 --> 00:50:07.990 align:start position:0% called the Murphy DB bug that caused a 00:50:07.990 --> 00:50:10.620 align:start position:0% called the Murphy DB bug that caused a chain<00:50:08.200> split<00:50:08.590> it<00:50:09.130> was<00:50:09.310> the<00:50:09.430> longest<00:50:09.640> chains 00:50:10.620 --> 00:50:10.630 align:start position:0% chain split it was the longest chains 00:50:10.630 --> 00:50:15.180 align:start position:0% chain split it was the longest chains plate<00:50:10.930> of<00:50:11.020> England's<00:50:11.380> history<00:50:11.500> so<00:50:11.920> far<00:50:14.190> that 00:50:15.180 --> 00:50:15.190 align:start position:0% plate of England's history so far that 00:50:15.190 --> 00:50:18.720 align:start position:0% plate of England's history so far that like<00:50:15.700> accidental<00:50:16.270> chain<00:50:16.450> split<00:50:16.890> and<00:50:17.890> then<00:50:18.100> 50 00:50:18.720 --> 00:50:18.730 align:start position:0% like accidental chain split and then 50 00:50:18.730 --> 00:50:20.560 align:start position:0% like accidental chain split and then 50 was<00:50:18.880> gonna<00:50:19.060> activate<00:50:19.480> it<00:50:19.660> on<00:50:19.870> the 00:50:20.560 --> 00:50:20.570 align:start position:0% was gonna activate it on the 00:50:20.570 --> 00:50:23.440 align:start position:0% was gonna activate it on the we're<00:50:20.840> using<00:50:21.020> Flag<00:50:21.410> Day<00:50:21.440> of<00:50:21.710> hardboard<00:50:22.450> which 00:50:23.440 --> 00:50:23.450 align:start position:0% we're using Flag Day of hardboard which 00:50:23.450 --> 00:50:26.350 align:start position:0% we're using Flag Day of hardboard which which<00:50:23.900> which<00:50:24.170> created<00:50:25.070> a<00:50:25.400> basic<00:50:25.820> backwards 00:50:26.350 --> 00:50:26.360 align:start position:0% which which created a basic backwards 00:50:26.360 --> 00:50:29.410 align:start position:0% which which created a basic backwards incompatible<00:50:26.600> change<00:50:27.400> to<00:50:28.400> fix<00:50:28.910> this<00:50:29.150> earth 00:50:29.410 --> 00:50:29.420 align:start position:0% incompatible change to fix this earth 00:50:29.420 --> 00:50:34.060 align:start position:0% incompatible change to fix this earth BBB<00:50:31.180> and<00:50:32.180> like<00:50:32.720> here's<00:50:32.960> the<00:50:33.170> code<00:50:33.440> to<00:50:33.740> do<00:50:33.890> that 00:50:34.060 --> 00:50:34.070 align:start position:0% BBB and like here's the code to do that 00:50:34.070 --> 00:50:39.370 align:start position:0% BBB and like here's the code to do that once<00:50:35.030> again<00:50:35.500> has<00:50:36.500> this<00:50:37.090> like<00:50:38.090> rule<00:50:38.630> where<00:50:39.080> like 00:50:39.370 --> 00:50:39.380 align:start position:0% once again has this like rule where like 00:50:39.380 --> 00:50:41.950 align:start position:0% once again has this like rule where like you<00:50:39.860> know<00:50:39.920> if<00:50:40.100> the<00:50:40.850> block<00:50:41.030> time<00:50:41.330> is<00:50:41.600> greater 00:50:41.950 --> 00:50:41.960 align:start position:0% you know if the block time is greater 00:50:41.960 --> 00:50:43.360 align:start position:0% you know if the block time is greater than<00:50:42.230> one 00:50:43.360 --> 00:50:43.370 align:start position:0% than one 00:50:43.370 --> 00:50:46.900 align:start position:0% than one whatever<00:50:44.030> this<00:50:44.120> time<00:50:44.390> is<00:50:44.600> 11<00:50:45.230> March<00:50:45.590> 2013<00:50:46.040> then 00:50:46.900 --> 00:50:46.910 align:start position:0% whatever this time is 11 March 2013 then 00:50:46.910 --> 00:50:48.970 align:start position:0% whatever this time is 11 March 2013 then the<00:50:47.240> unit<00:50:47.480> one<00:50:47.630> in<00:50:47.720> this<00:50:47.840> world<00:50:48.110> and<00:50:48.590> then 00:50:48.970 --> 00:50:48.980 align:start position:0% the unit one in this world and then 00:50:48.980 --> 00:50:52.210 align:start position:0% the unit one in this world and then after<00:50:49.940> May<00:50:50.630> 15th<00:50:51.200> will<00:50:51.560> lack<00:50:51.770> salute<00:50:52.040> that 00:50:52.210 --> 00:50:52.220 align:start position:0% after May 15th will lack salute that 00:50:52.220 --> 00:50:54.190 align:start position:0% after May 15th will lack salute that will<00:50:52.520> actually<00:50:52.670> relax<00:50:53.270> the<00:50:53.510> world<00:50:53.750> so<00:50:54.080> when 00:50:54.190 --> 00:50:54.200 align:start position:0% will actually relax the world so when 00:50:54.200 --> 00:50:56.640 align:start position:0% will actually relax the world so when they<00:50:54.290> relax<00:50:54.590> the<00:50:54.920> rule<00:50:55.100> that<00:50:55.310> was<00:50:55.550> a<00:50:55.760> hard<00:50:55.970> work 00:50:56.640 --> 00:50:56.650 align:start position:0% they relax the rule that was a hard work 00:50:56.650 --> 00:51:00.370 align:start position:0% they relax the rule that was a hard work because<00:50:57.970> basically<00:50:58.970> any<00:50:59.450> anything<00:51:00.020> created 00:51:00.370 --> 00:51:00.380 align:start position:0% because basically any anything created 00:51:00.380 --> 00:51:03.270 align:start position:0% because basically any anything created after<00:51:00.680> that<00:51:00.830> point<00:51:01.130> was<00:51:01.370> incompatible<00:51:02.000> with 00:51:03.270 --> 00:51:03.280 align:start position:0% after that point was incompatible with 00:51:03.280 --> 00:51:05.290 align:start position:0% after that point was incompatible with software<00:51:04.280> that's<00:51:04.310> running<00:51:04.730> before<00:51:05.000> that 00:51:05.290 --> 00:51:05.300 align:start position:0% software that's running before that 00:51:05.300 --> 00:51:07.990 align:start position:0% software that's running before that point<00:51:05.510> so<00:51:06.440> it's<00:51:06.620> technically<00:51:07.430> a<00:51:07.520> hard<00:51:07.760> work 00:51:07.990 --> 00:51:08.000 align:start position:0% point so it's technically a hard work 00:51:08.000 --> 00:51:10.000 align:start position:0% point so it's technically a hard work although<00:51:08.270> some<00:51:08.930> people<00:51:09.140> might<00:51:09.830> debate 00:51:10.000 --> 00:51:10.010 align:start position:0% although some people might debate 00:51:10.010 --> 00:51:12.330 align:start position:0% although some people might debate whether<00:51:10.460> that<00:51:10.760> was<00:51:10.850> actually<00:51:11.180> a<00:51:11.210> hard<00:51:11.420> court 00:51:12.330 --> 00:51:12.340 align:start position:0% whether that was actually a hard court 00:51:12.340 --> 00:51:14.850 align:start position:0% whether that was actually a hard court so<00:51:13.340> then<00:51:13.520> there<00:51:13.670> was<00:51:13.760> a<00:51:13.790> really<00:51:14.000> interesting 00:51:14.850 --> 00:51:14.860 align:start position:0% so then there was a really interesting 00:51:14.860 --> 00:51:18.370 align:start position:0% so then there was a really interesting event<00:51:15.860> in<00:51:16.070> a<00:51:16.520> coin<00:51:16.730> called<00:51:17.000> fair<00:51:17.360> coin 00:51:18.370 --> 00:51:18.380 align:start position:0% event in a coin called fair coin 00:51:18.380 --> 00:51:21.760 align:start position:0% event in a coin called fair coin it's<00:51:18.740> the<00:51:18.860> first<00:51:19.870> rollback<00:51:20.870> that<00:51:21.140> I<00:51:21.320> know<00:51:21.380> of 00:51:21.760 --> 00:51:21.770 align:start position:0% it's the first rollback that I know of 00:51:21.770 --> 00:51:23.800 align:start position:0% it's the first rollback that I know of that<00:51:21.980> actually<00:51:22.040> kind<00:51:22.790> of<00:51:22.820> like<00:51:22.970> was<00:51:23.480> was 00:51:23.800 --> 00:51:23.810 align:start position:0% that actually kind of like was was 00:51:23.810 --> 00:51:28.990 align:start position:0% that actually kind of like was was almost<00:51:24.050> like<00:51:24.230> a<00:51:24.350> a<00:51:26.920> kind<00:51:27.920> of<00:51:28.040> like<00:51:28.160> that 00:51:28.990 --> 00:51:29.000 align:start position:0% almost like a a kind of like that 00:51:29.000 --> 00:51:32.050 align:start position:0% almost like a a kind of like that justice<00:51:29.570> related<00:51:30.220> rollback<00:51:31.220> so<00:51:31.580> basically 00:51:32.050 --> 00:51:32.060 align:start position:0% justice related rollback so basically 00:51:32.060 --> 00:51:33.940 align:start position:0% justice related rollback so basically there<00:51:32.450> was<00:51:32.510> an<00:51:32.630> exchange<00:51:32.810> called<00:51:33.200> mint<00:51:33.410> mint 00:51:33.940 --> 00:51:33.950 align:start position:0% there was an exchange called mint mint 00:51:33.950 --> 00:51:37.330 align:start position:0% there was an exchange called mint mint ow<00:51:34.220> that<00:51:34.700> was<00:51:34.850> hacked<00:51:35.150> and<00:51:35.680> 30%<00:51:36.680> of<00:51:36.800> the<00:51:36.920> fair 00:51:37.330 --> 00:51:37.340 align:start position:0% ow that was hacked and 30% of the fair 00:51:37.340 --> 00:51:39.880 align:start position:0% ow that was hacked and 30% of the fair coin<00:51:37.610> supply<00:51:38.060> was<00:51:38.330> golden<00:51:38.900> now<00:51:39.350> very<00:51:39.590> poignant 00:51:39.880 --> 00:51:39.890 align:start position:0% coin supply was golden now very poignant 00:51:39.890 --> 00:51:42.670 align:start position:0% coin supply was golden now very poignant was<00:51:40.130> a<00:51:40.160> proof<00:51:40.430> of<00:51:40.520> state<00:51:40.790> point<00:51:41.060> so<00:51:41.360> if<00:51:41.480> 30%<00:51:42.110> of 00:51:42.670 --> 00:51:42.680 align:start position:0% was a proof of state point so if 30% of 00:51:42.680 --> 00:51:44.380 align:start position:0% was a proof of state point so if 30% of your<00:51:42.830> proof<00:51:43.130> of<00:51:43.250> state<00:51:43.490> coin<00:51:43.700> is<00:51:43.940> held<00:51:44.180> by 00:51:44.380 --> 00:51:44.390 align:start position:0% your proof of state coin is held by 00:51:44.390 --> 00:51:47.200 align:start position:0% your proof of state coin is held by somebody<00:51:44.780> with<00:51:44.990> perhaps<00:51:45.860> less<00:51:46.220> than<00:51:46.580> good 00:51:47.200 --> 00:51:47.210 align:start position:0% somebody with perhaps less than good 00:51:47.210 --> 00:51:49.210 align:start position:0% somebody with perhaps less than good intentions<00:51:47.420> well<00:51:48.200> they're<00:51:48.650> locked<00:51:48.890> in<00:51:49.070> some 00:51:49.210 --> 00:51:49.220 align:start position:0% intentions well they're locked in some 00:51:49.220 --> 00:51:51.760 align:start position:0% intentions well they're locked in some trouble<00:51:49.430> so<00:51:49.910> they<00:51:50.510> decided<00:51:50.930> you<00:51:51.380> know<00:51:51.560> we're 00:51:51.760 --> 00:51:51.770 align:start position:0% trouble so they decided you know we're 00:51:51.770 --> 00:51:53.320 align:start position:0% trouble so they decided you know we're going<00:51:51.860> to<00:51:51.950> roll<00:51:52.220> back<00:51:52.430> the<00:51:52.460> blockchain<00:51:53.060> and 00:51:53.320 --> 00:51:53.330 align:start position:0% going to roll back the blockchain and 00:51:53.330 --> 00:51:55.420 align:start position:0% going to roll back the blockchain and reverse<00:51:53.750> that<00:51:53.990> that<00:51:54.230> transaction<00:51:54.950> is<00:51:55.040> not<00:51:55.220> so 00:51:55.420 --> 00:51:55.430 align:start position:0% reverse that that transaction is not so 00:51:55.430 --> 00:51:57.100 align:start position:0% reverse that that transaction is not so very<00:51:55.640> controversial<00:51:56.270> in<00:51:56.630> America 00:51:57.100 --> 00:51:57.110 align:start position:0% very controversial in America 00:51:57.110 --> 00:52:01.120 align:start position:0% very controversial in America entity<00:51:57.970> and<00:51:59.140> has<00:52:00.140> anyone<00:52:00.440> ever<00:52:00.560> heard<00:52:00.800> of<00:52:00.920> bear 00:52:01.120 --> 00:52:01.130 align:start position:0% entity and has anyone ever heard of bear 00:52:01.130 --> 00:52:04.030 align:start position:0% entity and has anyone ever heard of bear coin<00:52:01.510> and<00:52:02.510> see<00:52:02.720> how<00:52:02.960> you<00:52:03.440> know<00:52:03.530> successful 00:52:04.030 --> 00:52:04.040 align:start position:0% coin and see how you know successful 00:52:04.040 --> 00:52:07.030 align:start position:0% coin and see how you know successful that<00:52:04.340> it's<00:52:04.640> made<00:52:04.760> there<00:52:04.940> blockchain<00:52:05.590> but<00:52:06.590> but 00:52:07.030 --> 00:52:07.040 align:start position:0% that it's made there blockchain but but 00:52:07.040 --> 00:52:09.070 align:start position:0% that it's made there blockchain but but in<00:52:07.250> any<00:52:07.400> case<00:52:07.490> you<00:52:07.880> know<00:52:08.000> a<00:52:08.240> lot<00:52:08.480> of<00:52:08.570> people<00:52:08.840> did 00:52:09.070 --> 00:52:09.080 align:start position:0% in any case you know a lot of people did 00:52:09.080 --> 00:52:10.750 align:start position:0% in any case you know a lot of people did think<00:52:09.380> that<00:52:09.440> it<00:52:09.650> was<00:52:09.890> a<00:52:09.920> good<00:52:10.100> idea<00:52:10.400> because 00:52:10.750 --> 00:52:10.760 align:start position:0% think that it was a good idea because 00:52:10.760 --> 00:52:13.870 align:start position:0% think that it was a good idea because again<00:52:11.510> 30%<00:52:12.320> of<00:52:12.380> your<00:52:12.560> coins<00:52:12.980> and<00:52:13.430> a<00:52:13.640> previous 00:52:13.870 --> 00:52:13.880 align:start position:0% again 30% of your coins and a previous 00:52:13.880 --> 00:52:15.880 align:start position:0% again 30% of your coins and a previous state<00:52:14.150> watching<00:52:14.540> being<00:52:14.810> helped<00:52:15.020> by<00:52:15.080> an 00:52:15.880 --> 00:52:15.890 align:start position:0% state watching being helped by an 00:52:15.890 --> 00:52:18.250 align:start position:0% state watching being helped by an attacker<00:52:16.340> is<00:52:16.760> maybe<00:52:17.180> not<00:52:17.300> the<00:52:17.540> best<00:52:17.570> thing<00:52:17.960> so 00:52:18.250 --> 00:52:18.260 align:start position:0% attacker is maybe not the best thing so 00:52:18.260 --> 00:52:20.020 align:start position:0% attacker is maybe not the best thing so I<00:52:18.500> thought<00:52:18.950> that<00:52:19.130> was<00:52:19.250> really<00:52:19.460> interesting<00:52:19.550> as 00:52:20.020 --> 00:52:20.030 align:start position:0% I thought that was really interesting as 00:52:20.030 --> 00:52:21.640 align:start position:0% I thought that was really interesting as the<00:52:20.180> earliest<00:52:20.540> time<00:52:20.870> an<00:52:21.080> example<00:52:21.440> that<00:52:21.530> I 00:52:21.640 --> 00:52:21.650 align:start position:0% the earliest time an example that I 00:52:21.650 --> 00:52:24.850 align:start position:0% the earliest time an example that I could<00:52:21.770> find<00:52:22.100> him<00:52:22.280> a<00:52:22.310> kind<00:52:23.120> of<00:52:23.210> like<00:52:23.390> a<00:52:23.860> reversal 00:52:24.850 --> 00:52:24.860 align:start position:0% could find him a kind of like a reversal 00:52:24.860 --> 00:52:26.950 align:start position:0% could find him a kind of like a reversal of<00:52:24.950> a<00:52:25.070> theft<00:52:25.370> rather<00:52:25.760> than<00:52:26.030> a<00:52:26.060> kind<00:52:26.300> of<00:52:26.480> fixing 00:52:26.950 --> 00:52:26.960 align:start position:0% of a theft rather than a kind of fixing 00:52:26.960 --> 00:52:28.630 align:start position:0% of a theft rather than a kind of fixing of<00:52:27.080> above<00:52:27.380> the<00:52:27.650> way<00:52:27.770> the<00:52:27.920> earlier<00:52:28.280> buffer 00:52:28.630 --> 00:52:28.640 align:start position:0% of above the way the earlier buffer 00:52:28.640 --> 00:52:32.320 align:start position:0% of above the way the earlier buffer overflow<00:52:30.010> rollback<00:52:31.010> was<00:52:31.310> was<00:52:31.700> done<00:52:31.880> a<00:52:31.910> big<00:52:32.150> one 00:52:32.320 --> 00:52:32.330 align:start position:0% overflow rollback was was done a big one 00:52:32.330 --> 00:52:36.100 align:start position:0% overflow rollback was was done a big one so<00:52:32.960> then<00:52:33.140> moving<00:52:34.010> back<00:52:34.370> to<00:52:34.490> Bitcoin<00:52:34.700> bin<00:52:35.570> 101 00:52:36.100 --> 00:52:36.110 align:start position:0% so then moving back to Bitcoin bin 101 00:52:36.110 --> 00:52:39.480 align:start position:0% so then moving back to Bitcoin bin 101 was<00:52:36.350> added<00:52:36.740> to<00:52:36.860> Bitcoin<00:52:37.040> XT<00:52:37.630> so<00:52:38.630> Bitcoin<00:52:39.020> XT 00:52:39.480 --> 00:52:39.490 align:start position:0% was added to Bitcoin XT so Bitcoin XT 00:52:39.490 --> 00:52:43.660 align:start position:0% was added to Bitcoin XT so Bitcoin XT the<00:52:40.490> the<00:52:40.670> main<00:52:40.990> Bitcoin<00:52:41.990> client<00:52:42.290> in<00:52:42.680> the 00:52:43.660 --> 00:52:43.670 align:start position:0% the the main Bitcoin client in the 00:52:43.670 --> 00:52:47.470 align:start position:0% the the main Bitcoin client in the Bitcoin<00:52:43.940> network<00:52:44.270> today<00:52:45.230> and<00:52:45.710> back<00:52:46.010> then<00:52:46.480> was 00:52:47.470 --> 00:52:47.480 align:start position:0% Bitcoin network today and back then was 00:52:47.480 --> 00:52:49.990 align:start position:0% Bitcoin network today and back then was called<00:52:47.750> Bitcoin<00:52:48.170> QT<00:52:48.710> or<00:52:48.980> Bitcoin<00:52:49.490> core<00:52:49.700> this 00:52:49.990 --> 00:52:50.000 align:start position:0% called Bitcoin QT or Bitcoin core this 00:52:50.000 --> 00:52:53.620 align:start position:0% called Bitcoin QT or Bitcoin core this was<00:52:50.180> the<00:52:51.190> derivative<00:52:52.190> or<00:52:52.910> I<00:52:53.300> should<00:52:53.480> say 00:52:53.620 --> 00:52:53.630 align:start position:0% was the derivative or I should say 00:52:53.630 --> 00:52:57.840 align:start position:0% was the derivative or I should say descendant<00:52:54.230> of<00:52:54.410> the<00:52:55.420> client<00:52:56.420> that<00:52:56.570> Satoshi 00:52:57.840 --> 00:52:57.850 align:start position:0% descendant of the client that Satoshi 00:52:57.850 --> 00:53:01.330 align:start position:0% descendant of the client that Satoshi Satoshi<00:52:58.850> himself<00:52:59.270> wrote<00:52:59.590> big<00:53:00.590> when<00:53:00.770> XT<00:53:01.130> was 00:53:01.330 --> 00:53:01.340 align:start position:0% Satoshi himself wrote big when XT was 00:53:01.340 --> 00:53:03.850 align:start position:0% Satoshi himself wrote big when XT was developed<00:53:01.760> by<00:53:01.850> a<00:53:01.880> big<00:53:02.210> development<00:53:03.080> team<00:53:03.260> so<00:53:03.470> a 00:53:03.850 --> 00:53:03.860 align:start position:0% developed by a big development team so a 00:53:03.860 --> 00:53:06.880 align:start position:0% developed by a big development team so a former<00:53:04.670> Bitcoin<00:53:05.090> core<00:53:05.410> developer<00:53:06.410> named<00:53:06.680> Mike 00:53:06.880 --> 00:53:06.890 align:start position:0% former Bitcoin core developer named Mike 00:53:06.890 --> 00:53:09.340 align:start position:0% former Bitcoin core developer named Mike Hearn<00:53:07.220> had<00:53:08.030> this<00:53:08.210> client<00:53:08.510> called<00:53:08.900> Bitcoin<00:53:09.080> XT 00:53:09.340 --> 00:53:09.350 align:start position:0% Hearn had this client called Bitcoin XT 00:53:09.350 --> 00:53:11.080 align:start position:0% Hearn had this client called Bitcoin XT that<00:53:09.860> he<00:53:09.950> was<00:53:10.070> doing<00:53:10.220> some<00:53:10.460> experimental 00:53:11.080 --> 00:53:11.090 align:start position:0% that he was doing some experimental 00:53:11.090 --> 00:53:14.740 align:start position:0% that he was doing some experimental stuff<00:53:11.300> with<00:53:11.510> and<00:53:11.990> then<00:53:12.380> there<00:53:13.220> was<00:53:13.370> a<00:53:13.450> bit<00:53:14.450> or<00:53:14.720> a 00:53:14.740 --> 00:53:14.750 align:start position:0% stuff with and then there was a bit or a 00:53:14.750 --> 00:53:17.740 align:start position:0% stuff with and then there was a bit or a Bitcoin<00:53:15.170> improvement<00:53:15.680> proposal<00:53:16.510> 101<00:53:17.510> that 00:53:17.740 --> 00:53:17.750 align:start position:0% Bitcoin improvement proposal 101 that 00:53:17.750 --> 00:53:19.270 align:start position:0% Bitcoin improvement proposal 101 that was<00:53:17.900> implemented<00:53:18.260> to<00:53:18.560> increase<00:53:18.980> the<00:53:19.130> block 00:53:19.270 --> 00:53:19.280 align:start position:0% was implemented to increase the block 00:53:19.280 --> 00:53:22.360 align:start position:0% was implemented to increase the block size<00:53:19.340> to<00:53:19.610> 8<00:53:19.970> megabytes<00:53:20.620> now<00:53:21.680> Bitcoin<00:53:22.100> court 00:53:22.360 --> 00:53:22.370 align:start position:0% size to 8 megabytes now Bitcoin court 00:53:22.370 --> 00:53:25.360 align:start position:0% size to 8 megabytes now Bitcoin court did<00:53:22.730> not<00:53:22.760> adopt<00:53:23.270> this<00:53:23.630> if<00:53:24.010> it<00:53:25.010> would<00:53:25.130> have<00:53:25.250> been 00:53:25.360 --> 00:53:25.370 align:start position:0% did not adopt this if it would have been 00:53:25.370 --> 00:53:26.770 align:start position:0% did not adopt this if it would have been a<00:53:25.400> hard<00:53:25.610> fork<00:53:25.940> and 00:53:26.770 --> 00:53:26.780 align:start position:0% a hard fork and 00:53:26.780 --> 00:53:28.540 align:start position:0% a hard fork and or<00:53:26.870> against<00:53:27.290> a<00:53:27.500> hard<00:53:27.710> fork<00:53:28.010> to<00:53:28.160> increase<00:53:28.400> the 00:53:28.540 --> 00:53:28.550 align:start position:0% or against a hard fork to increase the 00:53:28.550 --> 00:53:30.580 align:start position:0% or against a hard fork to increase the block<00:53:28.700> size<00:53:28.760> of<00:53:29.090> the<00:53:29.150> men<00:53:29.270> at<00:53:29.360> that<00:53:29.510> point<00:53:29.750> but 00:53:30.580 --> 00:53:30.590 align:start position:0% block size of the men at that point but 00:53:30.590 --> 00:53:32.830 align:start position:0% block size of the men at that point but there<00:53:30.740> was<00:53:30.830> some<00:53:31.040> movement<00:53:31.630> within<00:53:32.630> the 00:53:32.830 --> 00:53:32.840 align:start position:0% there was some movement within the 00:53:32.840 --> 00:53:34.870 align:start position:0% there was some movement within the Bitcoin<00:53:33.380> community<00:53:33.500> to<00:53:34.160> increase<00:53:34.520> the<00:53:34.730> block 00:53:34.870 --> 00:53:34.880 align:start position:0% Bitcoin community to increase the block 00:53:34.880 --> 00:53:37.540 align:start position:0% Bitcoin community to increase the block size<00:53:34.940> limit<00:53:35.150> so<00:53:36.050> Bitcoin<00:53:36.440> XT<00:53:36.620> implemented 00:53:37.540 --> 00:53:37.550 align:start position:0% size limit so Bitcoin XT implemented 00:53:37.550 --> 00:53:40.840 align:start position:0% size limit so Bitcoin XT implemented this<00:53:38.800> and<00:53:39.800> was<00:53:40.190> basically<00:53:40.400> trying<00:53:40.730> to 00:53:40.840 --> 00:53:40.850 align:start position:0% this and was basically trying to 00:53:40.850 --> 00:53:43.150 align:start position:0% this and was basically trying to convince<00:53:41.210> people<00:53:41.360> hey<00:53:41.990> you<00:53:42.710> know<00:53:42.800> Bitcoin 00:53:43.150 --> 00:53:43.160 align:start position:0% convince people hey you know Bitcoin 00:53:43.160 --> 00:53:45.070 align:start position:0% convince people hey you know Bitcoin core<00:53:43.370> isn't<00:53:43.640> responding<00:53:44.120> to<00:53:44.510> the<00:53:44.630> community's 00:53:45.070 --> 00:53:45.080 align:start position:0% core isn't responding to the community's 00:53:45.080 --> 00:53:46.480 align:start position:0% core isn't responding to the community's demands<00:53:45.440> for<00:53:45.710> an<00:53:45.830> increase<00:53:46.130> in<00:53:46.280> the<00:53:46.340> bus 00:53:46.480 --> 00:53:46.490 align:start position:0% demands for an increase in the bus 00:53:46.490 --> 00:53:47.920 align:start position:0% demands for an increase in the bus estimate<00:53:46.970> you<00:53:47.090> should<00:53:47.240> run<00:53:47.420> big<00:53:47.600> planets 00:53:47.920 --> 00:53:47.930 align:start position:0% estimate you should run big planets 00:53:47.930 --> 00:53:50.200 align:start position:0% estimate you should run big planets instead<00:53:48.500> and<00:53:48.800> so<00:53:49.400> this<00:53:49.550> was<00:53:49.730> kind<00:53:49.850> of<00:53:49.940> one<00:53:50.120> of 00:53:50.200 --> 00:53:50.210 align:start position:0% instead and so this was kind of one of 00:53:50.210 --> 00:53:52.420 align:start position:0% instead and so this was kind of one of the<00:53:50.270> first<00:53:50.510> examples<00:53:50.720> of<00:53:51.260> a<00:53:51.620> Bitcoin<00:53:52.040> client 00:53:52.420 --> 00:53:52.430 align:start position:0% the first examples of a Bitcoin client 00:53:52.430 --> 00:53:55.290 align:start position:0% the first examples of a Bitcoin client kind<00:53:52.790> of<00:53:52.880> going<00:53:53.450> broke<00:53:53.570> and<00:53:53.960> going<00:53:54.860> against 00:53:55.290 --> 00:53:55.300 align:start position:0% kind of going broke and going against 00:53:55.300 --> 00:53:59.050 align:start position:0% kind of going broke and going against consensus<00:53:56.300> in<00:53:56.690> the<00:53:56.840> big<00:53:56.990> news<00:53:57.170> network 00:53:59.050 --> 00:53:59.060 align:start position:0% consensus in the big news network 00:53:59.060 --> 00:54:02.530 align:start position:0% consensus in the big news network so<00:53:59.540> later<00:53:59.900> 2015<00:54:00.800> miners<00:54:01.760> and<00:54:01.910> physicists<00:54:02.450> were 00:54:02.530 --> 00:54:02.540 align:start position:0% so later 2015 miners and physicists were 00:54:02.540 --> 00:54:04.060 align:start position:0% so later 2015 miners and physicists were signaling<00:54:03.020> support<00:54:03.470> for<00:54:03.680> bigger<00:54:03.860> bought 00:54:04.060 --> 00:54:04.070 align:start position:0% signaling support for bigger bought 00:54:04.070 --> 00:54:07.540 align:start position:0% signaling support for bigger bought plots<00:54:04.630> so<00:54:05.630> mining<00:54:06.500> pool<00:54:06.680> operators<00:54:07.250> like 00:54:07.540 --> 00:54:07.550 align:start position:0% plots so mining pool operators like 00:54:07.550 --> 00:54:09.730 align:start position:0% plots so mining pool operators like signed<00:54:07.820> a<00:54:07.940> letter<00:54:08.090> saying<00:54:08.510> you<00:54:09.350> know<00:54:09.440> we<00:54:09.620> all 00:54:09.730 --> 00:54:09.740 align:start position:0% signed a letter saying you know we all 00:54:09.740 --> 00:54:12.430 align:start position:0% signed a letter saying you know we all support<00:54:10.340> up<00:54:10.610> to<00:54:10.640> 8<00:54:11.060> megabytes<00:54:11.540> or<00:54:11.870> even<00:54:12.170> 20 00:54:12.430 --> 00:54:12.440 align:start position:0% support up to 8 megabytes or even 20 00:54:12.440 --> 00:54:15.520 align:start position:0% support up to 8 megabytes or even 20 mega<00:54:12.620> byte<00:54:12.830> blocks<00:54:13.130> in<00:54:13.850> tune<00:54:14.180> and<00:54:14.990> then<00:54:15.230> of 00:54:15.520 --> 00:54:15.530 align:start position:0% mega byte blocks in tune and then of 00:54:15.530 --> 00:54:16.960 align:start position:0% mega byte blocks in tune and then of prominent<00:54:16.010> businesses<00:54:16.460> kind<00:54:16.700> of<00:54:16.730> did 00:54:16.960 --> 00:54:16.970 align:start position:0% prominent businesses kind of did 00:54:16.970 --> 00:54:19.920 align:start position:0% prominent businesses kind of did something<00:54:17.240> similar<00:54:17.780> a<00:54:18.380> bunch<00:54:18.920> of<00:54:19.010> popular 00:54:19.920 --> 00:54:19.930 align:start position:0% something similar a bunch of popular 00:54:19.930 --> 00:54:22.510 align:start position:0% something similar a bunch of popular Bitcoin<00:54:20.930> wallets<00:54:21.410> and<00:54:21.680> payment<00:54:22.010> processors 00:54:22.510 --> 00:54:22.520 align:start position:0% Bitcoin wallets and payment processors 00:54:22.520 --> 00:54:25.480 align:start position:0% Bitcoin wallets and payment processors and<00:54:22.820> such<00:54:23.440> also<00:54:24.440> signed<00:54:24.860> the<00:54:24.980> letter<00:54:25.130> saying 00:54:25.480 --> 00:54:25.490 align:start position:0% and such also signed the letter saying 00:54:25.490 --> 00:54:27.640 align:start position:0% and such also signed the letter saying you<00:54:25.640> know<00:54:25.760> we<00:54:25.910> support<00:54:26.090> bit<00:54:26.540> 101<00:54:27.050> or<00:54:27.350> a 00:54:27.640 --> 00:54:27.650 align:start position:0% you know we support bit 101 or a 00:54:27.650 --> 00:54:30.550 align:start position:0% you know we support bit 101 or a megabyte<00:54:27.830> block<00:54:28.340> size<00:54:28.910> of<00:54:29.270> the<00:54:29.330> mint<00:54:29.510> this<00:54:30.380> is 00:54:30.550 --> 00:54:30.560 align:start position:0% megabyte block size of the mint this is 00:54:30.560 --> 00:54:33.130 align:start position:0% megabyte block size of the mint this is what<00:54:30.740> the<00:54:30.980> miner<00:54:31.430> letter<00:54:31.760> looks<00:54:32.030> like<00:54:32.270> you<00:54:32.990> can 00:54:33.130 --> 00:54:33.140 align:start position:0% what the miner letter looks like you can 00:54:33.140 --> 00:54:37.400 align:start position:0% what the miner letter looks like you can see<00:54:33.260> f2<00:54:33.620> pool<00:54:33.910> and<00:54:34.910> pool<00:54:35.330> party<00:54:35.870> and 00:54:37.400 --> 00:54:37.410 align:start position:0% see f2 pool and pool party and 00:54:37.410 --> 00:54:40.880 align:start position:0% see f2 pool and pool party and there's<00:54:37.650> a<00:54:37.710> VW<00:54:38.339> and<00:54:39.319> kind<00:54:40.319> of<00:54:40.349> a<00:54:40.440> date<00:54:40.650> stamp 00:54:40.880 --> 00:54:40.890 align:start position:0% there's a VW and kind of a date stamp 00:54:40.890 --> 00:54:43.700 align:start position:0% there's a VW and kind of a date stamp there<00:54:41.630> they<00:54:42.630> represent<00:54:43.109> it<00:54:43.229> as<00:54:43.380> a<00:54:43.410> pretty 00:54:43.700 --> 00:54:43.710 align:start position:0% there they represent it as a pretty 00:54:43.710 --> 00:54:45.319 align:start position:0% there they represent it as a pretty significant<00:54:44.309> share<00:54:44.489> of<00:54:44.519> the<00:54:44.640> hash<00:54:44.849> power<00:54:45.150> in 00:54:45.319 --> 00:54:45.329 align:start position:0% significant share of the hash power in 00:54:45.329 --> 00:54:49.539 align:start position:0% significant share of the hash power in the<00:54:45.450> network<00:54:45.779> and<00:54:46.710> then<00:54:46.890> also<00:54:48.440> blockchain 00:54:49.539 --> 00:54:49.549 align:start position:0% the network and then also blockchain 00:54:49.549 --> 00:54:52.009 align:start position:0% the network and then also blockchain bitpay<00:54:50.549> and<00:54:51.119> a<00:54:51.150> bunch<00:54:51.329> of<00:54:51.390> other<00:54:51.569> businesses 00:54:52.009 --> 00:54:52.019 align:start position:0% bitpay and a bunch of other businesses 00:54:52.019 --> 00:54:54.559 align:start position:0% bitpay and a bunch of other businesses assigned<00:54:52.380> this<00:54:52.759> industry<00:54:53.759> letter<00:54:53.999> also 00:54:54.559 --> 00:54:54.569 align:start position:0% assigned this industry letter also 00:54:54.569 --> 00:54:58.940 align:start position:0% assigned this industry letter also supporting<00:54:55.229> bigger<00:54:55.410> blocks<00:54:57.739> nothing<00:54:58.739> really 00:54:58.940 --> 00:54:58.950 align:start position:0% supporting bigger blocks nothing really 00:54:58.950 --> 00:55:01.849 align:start position:0% supporting bigger blocks nothing really became<00:54:59.190> of<00:54:59.369> this<00:55:00.410> because<00:55:01.410> the<00:55:01.589> Bitcoin 00:55:01.849 --> 00:55:01.859 align:start position:0% became of this because the Bitcoin 00:55:01.859 --> 00:55:04.519 align:start position:0% became of this because the Bitcoin network<00:55:01.979> is<00:55:02.220> hard<00:55:02.400> to<00:55:02.579> change<00:55:02.759> okay<00:55:03.299> so<00:55:03.690> in 00:55:04.519 --> 00:55:04.529 align:start position:0% network is hard to change okay so in 00:55:04.529 --> 00:55:05.509 align:start position:0% network is hard to change okay so in 2015 00:55:05.509 --> 00:55:05.519 align:start position:0% 2015 00:55:05.519 --> 00:55:08.509 align:start position:0% 2015 August<00:55:05.940> 2015<00:55:06.390> the<00:55:06.960> -<00:55:07.140> now<00:55:07.410> goes<00:55:07.680> live<00:55:07.920> so<00:55:08.489> I 00:55:08.509 --> 00:55:08.519 align:start position:0% August 2015 the - now goes live so I 00:55:08.519 --> 00:55:10.489 align:start position:0% August 2015 the - now goes live so I think<00:55:08.819> this<00:55:09.029> was<00:55:09.239> perhaps<00:55:09.420> the<00:55:09.660> first<00:55:09.749> example 00:55:10.489 --> 00:55:10.499 align:start position:0% think this was perhaps the first example 00:55:10.499 --> 00:55:12.589 align:start position:0% think this was perhaps the first example of<00:55:10.680> a<00:55:10.769> blockchain<00:55:11.009> that<00:55:11.519> basically<00:55:12.150> like<00:55:12.420> to 00:55:12.589 --> 00:55:12.599 align:start position:0% of a blockchain that basically like to 00:55:12.599 --> 00:55:15.680 align:start position:0% of a blockchain that basically like to hook<00:55:12.720> a<00:55:13.019> portion<00:55:13.710> of<00:55:13.859> the<00:55:14.009> block<00:55:14.309> report<00:55:14.849> so 00:55:15.680 --> 00:55:15.690 align:start position:0% hook a portion of the block report so 00:55:15.690 --> 00:55:17.749 align:start position:0% hook a portion of the block report so the<00:55:15.779> new<00:55:15.960> coins<00:55:16.259> ever<00:55:16.470> being<00:55:16.739> generated<00:55:17.160> and 00:55:17.749 --> 00:55:17.759 align:start position:0% the new coins ever being generated and 00:55:17.759 --> 00:55:19.609 align:start position:0% the new coins ever being generated and then<00:55:17.880> gave<00:55:18.180> it<00:55:18.210> to<00:55:18.630> a<00:55:18.660> specific<00:55:19.319> kind<00:55:19.470> of 00:55:19.609 --> 00:55:19.619 align:start position:0% then gave it to a specific kind of 00:55:19.619 --> 00:55:22.130 align:start position:0% then gave it to a specific kind of entity<00:55:19.979> and<00:55:20.190> said<00:55:20.400> like<00:55:20.609> dude<00:55:21.210> do<00:55:21.690> it<00:55:21.720> you<00:55:21.930> will 00:55:22.130 --> 00:55:22.140 align:start position:0% entity and said like dude do it you will 00:55:22.140 --> 00:55:24.739 align:start position:0% entity and said like dude do it you will witness<00:55:22.349> and<00:55:22.769> that<00:55:22.799> specific<00:55:23.759> entity<00:55:24.150> was<00:55:24.720> a 00:55:24.739 --> 00:55:24.749 align:start position:0% witness and that specific entity was a 00:55:24.749 --> 00:55:26.660 align:start position:0% witness and that specific entity was a network<00:55:25.259> of<00:55:25.529> what<00:55:25.739> are<00:55:25.829> called<00:55:25.859> master<00:55:26.430> nodes 00:55:26.660 --> 00:55:26.670 align:start position:0% network of what are called master nodes 00:55:26.670 --> 00:55:30.229 align:start position:0% network of what are called master nodes which<00:55:27.359> are<00:55:27.650> -<00:55:28.650> she<00:55:28.859> knows<00:55:29.579> in<00:55:29.789> the<00:55:29.910> vacuum 00:55:30.229 --> 00:55:30.239 align:start position:0% which are - she knows in the vacuum 00:55:30.239 --> 00:55:32.630 align:start position:0% which are - she knows in the vacuum network<00:55:30.539> that<00:55:30.779> have<00:55:30.930> locked<00:55:31.229> 1,000<00:55:32.039> -<00:55:32.160> tokens 00:55:32.630 --> 00:55:32.640 align:start position:0% network that have locked 1,000 - tokens 00:55:32.640 --> 00:55:34.640 align:start position:0% network that have locked 1,000 - tokens in<00:55:32.759> their<00:55:32.910> wallet<00:55:33.239> once<00:55:34.109> they've<00:55:34.259> done<00:55:34.440> this 00:55:34.640 --> 00:55:34.650 align:start position:0% in their wallet once they've done this 00:55:34.650 --> 00:55:37.039 align:start position:0% in their wallet once they've done this then<00:55:35.220> they<00:55:35.400> get<00:55:35.579> a<00:55:35.819> voting<00:55:36.210> rights<00:55:36.420> to<00:55:36.599> vote<00:55:36.839> on 00:55:37.039 --> 00:55:37.049 align:start position:0% then they get a voting rights to vote on 00:55:37.049 --> 00:55:39.469 align:start position:0% then they get a voting rights to vote on how<00:55:37.259> these<00:55:37.440> this<00:55:38.279> portion<00:55:39.059> of<00:55:39.150> the<00:55:39.269> back 00:55:39.469 --> 00:55:39.479 align:start position:0% how these this portion of the back 00:55:39.479 --> 00:55:41.210 align:start position:0% how these this portion of the back reward<00:55:39.809> that<00:55:39.960> has<00:55:40.049> been<00:55:40.200> split<00:55:40.440> off<00:55:40.650> kids<00:55:40.920> is 00:55:41.210 --> 00:55:41.220 align:start position:0% reward that has been split off kids is 00:55:41.220 --> 00:55:43.219 align:start position:0% reward that has been split off kids is spent 00:55:43.219 --> 00:55:43.229 align:start position:0% spent 00:55:43.229 --> 00:55:46.789 align:start position:0% spent fast-forward<00:55:44.160> to<00:55:44.930> July<00:55:45.930> of<00:55:45.989> 2016 00:55:46.789 --> 00:55:46.799 align:start position:0% fast-forward to July of 2016 00:55:46.799 --> 00:55:49.190 align:start position:0% fast-forward to July of 2016 Athenian<00:55:47.670> splits<00:55:48.029> after<00:55:48.390> the<00:55:48.539> DAO<00:55:48.690> incident 00:55:49.190 --> 00:55:49.200 align:start position:0% Athenian splits after the DAO incident 00:55:49.200 --> 00:55:53.239 align:start position:0% Athenian splits after the DAO incident so<00:55:50.009> basically<00:55:50.430> here<00:55:51.829> you<00:55:52.829> know<00:55:52.920> someone 00:55:53.239 --> 00:55:53.249 align:start position:0% so basically here you know someone 00:55:53.249 --> 00:55:54.469 align:start position:0% so basically here you know someone figured<00:55:53.460> out<00:55:53.579> to<00:55:53.759> think<00:55:53.969> of<00:55:54.059> like<00:55:54.210> you<00:55:54.359> know 00:55:54.469 --> 00:55:54.479 align:start position:0% figured out to think of like you know 00:55:54.479 --> 00:55:56.630 align:start position:0% figured out to think of like you know why<00:55:54.630> are<00:55:54.660> you<00:55:55.069> unilaterally<00:55:56.069> withdraw<00:55:56.460> money 00:55:56.630 --> 00:55:56.640 align:start position:0% why are you unilaterally withdraw money 00:55:56.640 --> 00:55:58.729 align:start position:0% why are you unilaterally withdraw money from<00:55:56.999> the<00:55:57.119> Dow<00:55:57.299> which<00:55:58.109> was<00:55:58.259> a<00:55:58.289> smart<00:55:58.529> contract 00:55:58.729 --> 00:55:58.739 align:start position:0% from the Dow which was a smart contract 00:55:58.739 --> 00:56:01.969 align:start position:0% from the Dow which was a smart contract not<00:55:59.539> that<00:56:00.539> they<00:56:00.660> did<00:56:00.869> not<00:56:01.019> deposit<00:56:01.559> and<00:56:01.739> they 00:56:01.969 --> 00:56:01.979 align:start position:0% not that they did not deposit and they 00:56:01.979 --> 00:56:03.859 align:start position:0% not that they did not deposit and they use<00:56:02.160> this<00:56:02.339> to<00:56:02.549> try<00:56:02.729> to<00:56:02.789> Train<00:56:03.119> like<00:56:03.420> most<00:56:03.690> of 00:56:03.859 --> 00:56:03.869 align:start position:0% use this to try to Train like most of 00:56:03.869 --> 00:56:07.099 align:start position:0% use this to try to Train like most of the<00:56:04.079> money<00:56:04.259> out<00:56:04.499> of<00:56:04.890> the<00:56:05.249> Dow<00:56:05.690> the<00:56:06.690> etherium 00:56:07.099 --> 00:56:07.109 align:start position:0% the money out of the Dow the etherium 00:56:07.109 --> 00:56:09.589 align:start position:0% the money out of the Dow the etherium Network<00:56:07.380> reacted<00:56:07.950> by<00:56:08.729> basically<00:56:09.029> creating<00:56:09.539> a 00:56:09.589 --> 00:56:09.599 align:start position:0% Network reacted by basically creating a 00:56:09.599 --> 00:56:12.019 align:start position:0% Network reacted by basically creating a hard<00:56:09.809> fork<00:56:10.170> that<00:56:10.710> was<00:56:10.979> trying<00:56:11.279> to<00:56:11.460> reverse 00:56:12.019 --> 00:56:12.029 align:start position:0% hard fork that was trying to reverse 00:56:12.029 --> 00:56:15.459 align:start position:0% hard fork that was trying to reverse this<00:56:12.210> change<00:56:13.400> or<00:56:14.400> like<00:56:14.579> reverse<00:56:14.849> this<00:56:15.059> event 00:56:15.459 --> 00:56:15.469 align:start position:0% this change or like reverse this event 00:56:15.469 --> 00:56:18.469 align:start position:0% this change or like reverse this event and<00:56:16.469> that's<00:56:17.039> the<00:56:17.519> the<00:56:17.880> network<00:56:18.059> ended<00:56:18.390> up 00:56:18.469 --> 00:56:18.479 align:start position:0% and that's the the network ended up 00:56:18.479 --> 00:56:20.930 align:start position:0% and that's the the network ended up splitting<00:56:18.719> into<00:56:19.140> what<00:56:19.859> we<00:56:19.979> call<00:56:20.339> aetherium 00:56:20.930 --> 00:56:20.940 align:start position:0% splitting into what we call aetherium 00:56:20.940 --> 00:56:21.410 align:start position:0% splitting into what we call aetherium today 00:56:21.410 --> 00:56:21.420 align:start position:0% today 00:56:21.420 --> 00:56:22.060 align:start position:0% today which<00:56:21.569> was 00:56:22.060 --> 00:56:22.070 align:start position:0% which was 00:56:22.070 --> 00:56:23.860 align:start position:0% which was to<00:56:22.130> change<00:56:22.790> where<00:56:23.030> the<00:56:23.120> funds<00:56:23.330> were<00:56:23.510> returned 00:56:23.860 --> 00:56:23.870 align:start position:0% to change where the funds were returned 00:56:23.870 --> 00:56:26.140 align:start position:0% to change where the funds were returned to<00:56:23.990> the<00:56:24.200> original<00:56:24.290> owners<00:56:24.560> and<00:56:25.040> then<00:56:25.700> a<00:56:25.730> 3m 00:56:26.140 --> 00:56:26.150 align:start position:0% to the original owners and then a 3m 00:56:26.150 --> 00:56:29.860 align:start position:0% to the original owners and then a 3m classic<00:56:26.600> which<00:56:27.530> which<00:56:28.120> was<00:56:29.120> at<00:56:29.330> the<00:56:29.450> time<00:56:29.630> you 00:56:29.860 --> 00:56:29.870 align:start position:0% classic which which was at the time you 00:56:29.870 --> 00:56:32.680 align:start position:0% classic which which was at the time you know<00:56:29.960> the<00:56:30.110> original<00:56:30.350> chain<00:56:30.860> where<00:56:31.250> the<00:56:31.690> the 00:56:32.680 --> 00:56:32.690 align:start position:0% know the original chain where the the 00:56:32.690 --> 00:56:34.600 align:start position:0% know the original chain where the the person<00:56:33.080> who<00:56:33.230> originally<00:56:33.500> tried<00:56:34.340> to<00:56:34.430> withdraw 00:56:34.600 --> 00:56:34.610 align:start position:0% person who originally tried to withdraw 00:56:34.610 --> 00:56:36.670 align:start position:0% person who originally tried to withdraw money<00:56:34.910> from<00:56:35.030> the<00:56:35.180> Dow<00:56:35.410> actually<00:56:36.410> got<00:56:36.560> the 00:56:36.670 --> 00:56:36.680 align:start position:0% money from the Dow actually got the 00:56:36.680 --> 00:56:39.670 align:start position:0% money from the Dow actually got the money<00:56:36.940> and<00:56:37.940> and<00:56:38.330> on<00:56:38.780> the<00:56:39.020> etherion<00:56:39.350> classic 00:56:39.670 --> 00:56:39.680 align:start position:0% money and and on the etherion classic 00:56:39.680 --> 00:56:41.050 align:start position:0% money and and on the etherion classic chain<00:56:39.890> that<00:56:40.130> that<00:56:40.430> history<00:56:40.790> is<00:56:40.880> still 00:56:41.050 --> 00:56:41.060 align:start position:0% chain that that history is still 00:56:41.060 --> 00:56:45.310 align:start position:0% chain that that history is still preserved<00:56:41.450> today<00:56:42.850> so<00:56:43.850> then<00:56:44.060> in<00:56:44.210> 2017<00:56:44.690> there 00:56:45.310 --> 00:56:45.320 align:start position:0% preserved today so then in 2017 there 00:56:45.320 --> 00:56:47.890 align:start position:0% preserved today so then in 2017 there was<00:56:45.470> the<00:56:45.980> the<00:56:46.190> block<00:56:46.400> size<00:56:46.640> debate<00:56:47.030> in<00:56:47.270> Bitcoin 00:56:47.890 --> 00:56:47.900 align:start position:0% was the the block size debate in Bitcoin 00:56:47.900 --> 00:56:50.320 align:start position:0% was the the block size debate in Bitcoin was<00:56:48.110> kind<00:56:48.290> of<00:56:48.350> coming<00:56:48.680> to<00:56:48.800> a<00:56:48.830> head<00:56:49.210> there<00:56:50.210> were 00:56:50.320 --> 00:56:50.330 align:start position:0% was kind of coming to a head there were 00:56:50.330 --> 00:56:51.670 align:start position:0% was kind of coming to a head there were there<00:56:50.660> were<00:56:50.750> kind<00:56:50.960> of<00:56:51.050> the<00:56:51.110> three<00:56:51.410> main 00:56:51.670 --> 00:56:51.680 align:start position:0% there were kind of the three main 00:56:51.680 --> 00:56:54.220 align:start position:0% there were kind of the three main competing<00:56:52.220> proposals<00:56:52.790> at<00:56:53.510> various<00:56:53.900> points<00:56:54.170> of 00:56:54.220 --> 00:56:54.230 align:start position:0% competing proposals at various points of 00:56:54.230 --> 00:56:55.060 align:start position:0% competing proposals at various points of time<00:56:54.410> throughout<00:56:54.710> the<00:56:54.800> year 00:56:55.060 --> 00:56:55.070 align:start position:0% time throughout the year 00:56:55.070 --> 00:56:58.090 align:start position:0% time throughout the year one<00:56:55.400> was<00:56:55.550> called<00:56:55.730> set<00:56:56.030> with<00:56:56.210> you<00:56:57.080> ASF<00:56:57.560> or<00:56:57.860> user 00:56:58.090 --> 00:56:58.100 align:start position:0% one was called set with you ASF or user 00:56:58.100 --> 00:57:01.240 align:start position:0% one was called set with you ASF or user activated<00:56:58.730> southport<00:56:59.240> one<00:56:59.990> was<00:57:00.230> a<00:57:00.260> b<00:57:00.680> CH<00:57:00.980> or 00:57:01.240 --> 00:57:01.250 align:start position:0% activated southport one was a b CH or 00:57:01.250 --> 00:57:04.570 align:start position:0% activated southport one was a b CH or Abednego<00:57:02.000> cash<00:57:02.270> and<00:57:02.570> the<00:57:03.500> other<00:57:03.680> was<00:57:03.950> a<00:57:03.980> segue 00:57:04.570 --> 00:57:04.580 align:start position:0% Abednego cash and the other was a segue 00:57:04.580 --> 00:57:06.280 align:start position:0% Abednego cash and the other was a segue to<00:57:04.760> X<00:57:04.940> and<00:57:05.210> these<00:57:05.510> were<00:57:05.660> all<00:57:05.720> backed<00:57:06.140> by 00:57:06.280 --> 00:57:06.290 align:start position:0% to X and these were all backed by 00:57:06.290 --> 00:57:10.540 align:start position:0% to X and these were all backed by various<00:57:06.740> factions<00:57:06.980> of<00:57:07.340> the<00:57:07.460> community<00:57:09.130> so<00:57:10.130> a 00:57:10.540 --> 00:57:10.550 align:start position:0% various factions of the community so a 00:57:10.550 --> 00:57:13.330 align:start position:0% various factions of the community so a set<00:57:11.090> the<00:57:11.420> story<00:57:11.660> here<00:57:11.930> is<00:57:11.960> that<00:57:12.140> sec<00:57:12.470> wit<00:57:12.710> which 00:57:13.330 --> 00:57:13.340 align:start position:0% set the story here is that sec wit which 00:57:13.340 --> 00:57:15.760 align:start position:0% set the story here is that sec wit which was<00:57:13.490> a<00:57:13.520> change<00:57:13.730> in<00:57:13.910> bitcoin<00:57:14.330> that<00:57:15.320> fixed 00:57:15.760 --> 00:57:15.770 align:start position:0% was a change in bitcoin that fixed 00:57:15.770 --> 00:57:18.940 align:start position:0% was a change in bitcoin that fixed transaction<00:57:16.490> malleability<00:57:16.910> and<00:57:17.360> and<00:57:18.260> also 00:57:18.940 --> 00:57:18.950 align:start position:0% transaction malleability and and also 00:57:18.950 --> 00:57:21.550 align:start position:0% transaction malleability and and also happened<00:57:19.460> to<00:57:19.550> decrease<00:57:20.390> the<00:57:21.080> block<00:57:21.290> weight 00:57:21.550 --> 00:57:21.560 align:start position:0% happened to decrease the block weight 00:57:21.560 --> 00:57:24.700 align:start position:0% happened to decrease the block weight limit<00:57:21.920> to<00:57:22.070> four<00:57:22.310> megabytes<00:57:23.290> was<00:57:24.290> really 00:57:24.700 --> 00:57:24.710 align:start position:0% limit to four megabytes was really 00:57:24.710 --> 00:57:26.830 align:start position:0% limit to four megabytes was really intended<00:57:25.040> to<00:57:25.220> be<00:57:25.400> activated<00:57:25.880> by<00:57:26.270> a<00:57:26.300> minor 00:57:26.830 --> 00:57:26.840 align:start position:0% intended to be activated by a minor 00:57:26.840 --> 00:57:29.890 align:start position:0% intended to be activated by a minor activated<00:57:27.500> southport<00:57:28.130> so<00:57:28.970> basically<00:57:29.330> the 00:57:29.890 --> 00:57:29.900 align:start position:0% activated southport so basically the 00:57:29.900 --> 00:57:31.870 align:start position:0% activated southport so basically the idea<00:57:30.170> was<00:57:30.290> that<00:57:30.320> miners<00:57:30.770> would<00:57:30.950> signal<00:57:31.430> up<00:57:31.700> to 00:57:31.870 --> 00:57:31.880 align:start position:0% idea was that miners would signal up to 00:57:31.880 --> 00:57:35.950 align:start position:0% idea was that miners would signal up to like<00:57:32.060> I<00:57:32.240> think<00:57:32.300> it<00:57:32.510> was<00:57:32.980> 70%<00:57:33.980> support<00:57:34.850> and<00:57:35.360> once 00:57:35.950 --> 00:57:35.960 align:start position:0% like I think it was 70% support and once 00:57:35.960 --> 00:57:38.200 align:start position:0% like I think it was 70% support and once they've<00:57:36.140> got<00:57:36.350> to<00:57:36.500> 70%<00:57:37.190> support<00:57:37.310> the<00:57:37.730> change 00:57:38.200 --> 00:57:38.210 align:start position:0% they've got to 70% support the change 00:57:38.210 --> 00:57:40.300 align:start position:0% they've got to 70% support the change would<00:57:38.390> activate<00:57:38.810> well<00:57:39.260> segwayed<00:57:39.830> failed<00:57:40.100> to 00:57:40.300 --> 00:57:40.310 align:start position:0% would activate well segwayed failed to 00:57:40.310 --> 00:57:42.490 align:start position:0% would activate well segwayed failed to gather<00:57:40.490> enough<00:57:40.760> support<00:57:41.090> for<00:57:41.270> miners<00:57:41.630> so 00:57:42.490 --> 00:57:42.500 align:start position:0% gather enough support for miners so 00:57:42.500 --> 00:57:44.140 align:start position:0% gather enough support for miners so Bitcoin<00:57:42.920> users<00:57:43.220> decided<00:57:43.670> to<00:57:43.760> activate<00:57:44.090> that 00:57:44.140 --> 00:57:44.150 align:start position:0% Bitcoin users decided to activate that 00:57:44.150 --> 00:57:46.090 align:start position:0% Bitcoin users decided to activate that with<00:57:44.510> themselves<00:57:44.900> basically<00:57:45.560> they<00:57:45.710> would<00:57:45.830> run 00:57:46.090 --> 00:57:46.100 align:start position:0% with themselves basically they would run 00:57:46.100 --> 00:57:48.370 align:start position:0% with themselves basically they would run software<00:57:46.490> that<00:57:46.850> says<00:57:47.090> at<00:57:47.630> a<00:57:47.690> certain<00:57:48.110> block 00:57:48.370 --> 00:57:48.380 align:start position:0% software that says at a certain block 00:57:48.380 --> 00:57:50.350 align:start position:0% software that says at a certain block height<00:57:48.620> or<00:57:48.860> whatever<00:57:49.100> we<00:57:49.910> will<00:57:50.060> start 00:57:50.350 --> 00:57:50.360 align:start position:0% height or whatever we will start 00:57:50.360 --> 00:57:52.090 align:start position:0% height or whatever we will start rejecting<00:57:50.630> any<00:57:51.110> blocks<00:57:51.440> that<00:57:51.680> don't<00:57:51.860> conform 00:57:52.090 --> 00:57:52.100 align:start position:0% rejecting any blocks that don't conform 00:57:52.100 --> 00:57:52.960 align:start position:0% rejecting any blocks that don't conform a<00:57:52.370> segment 00:57:52.960 --> 00:57:52.970 align:start position:0% a segment 00:57:52.970 --> 00:57:57.370 align:start position:0% a segment sorry<00:57:53.540> miners<00:57:54.220> say<00:57:55.220> with<00:57:55.400> 2x<00:57:55.960> was<00:57:56.960> a<00:57:56.990> group<00:57:57.230> of 00:57:57.370 --> 00:57:57.380 align:start position:0% sorry miners say with 2x was a group of 00:57:57.380 --> 00:58:00.610 align:start position:0% sorry miners say with 2x was a group of folks<00:57:57.710> that<00:57:57.920> proposed<00:57:58.760> a<00:57:59.060> compromise<00:57:59.780> of<00:58:00.380> we 00:58:00.610 --> 00:58:00.620 align:start position:0% folks that proposed a compromise of we 00:58:00.620 --> 00:58:02.440 align:start position:0% folks that proposed a compromise of we would<00:58:00.830> increase<00:58:01.190> the<00:58:01.490> block<00:58:01.670> size<00:58:01.730> limit<00:58:02.000> like 00:58:02.440 --> 00:58:02.450 align:start position:0% would increase the block size limit like 00:58:02.450 --> 00:58:03.790 align:start position:0% would increase the block size limit like double<00:58:02.780> the<00:58:02.870> block<00:58:03.050> size<00:58:03.290> limit<00:58:03.320> and 00:58:03.790 --> 00:58:03.800 align:start position:0% double the block size limit and 00:58:03.800 --> 00:58:05.470 align:start position:0% double the block size limit and implements<00:58:04.430> that<00:58:04.490> would<00:58:04.760> everybody<00:58:05.300> gets 00:58:05.470 --> 00:58:05.480 align:start position:0% implements that would everybody gets 00:58:05.480 --> 00:58:06.460 align:start position:0% implements that would everybody gets what<00:58:05.600> they<00:58:05.630> want 00:58:06.460 --> 00:58:06.470 align:start position:0% what they want 00:58:06.470 --> 00:58:10.970 align:start position:0% what they want well<00:58:06.800> I<00:58:07.040> think<00:58:07.100> work<00:58:07.430> out<00:58:08.530> when<00:58:09.530> the<00:58:09.980> when<00:58:10.550> the 00:58:10.970 --> 00:58:10.980 align:start position:0% well I think work out when the when the 00:58:10.980 --> 00:58:12.800 align:start position:0% well I think work out when the when the was<00:58:11.340> looking<00:58:11.520> like<00:58:11.880> the<00:58:12.060> user<00:58:12.210> activated 00:58:12.800 --> 00:58:12.810 align:start position:0% was looking like the user activated 00:58:12.810 --> 00:58:14.330 align:start position:0% was looking like the user activated sophomore<00:58:13.260> was<00:58:13.470> actually<00:58:13.859> gaining<00:58:14.130> momentum 00:58:14.330 --> 00:58:14.340 align:start position:0% sophomore was actually gaining momentum 00:58:14.340 --> 00:58:16.580 align:start position:0% sophomore was actually gaining momentum and<00:58:14.910> was<00:58:15.090> going<00:58:15.300> to<00:58:15.390> get<00:58:15.510> activated<00:58:16.050> some 00:58:16.580 --> 00:58:16.590 align:start position:0% and was going to get activated some 00:58:16.590 --> 00:58:18.160 align:start position:0% and was going to get activated some minor<00:58:16.830> is<00:58:17.070> that<00:58:17.220> felt<00:58:17.460> threatened<00:58:17.850> by<00:58:17.970> this 00:58:18.160 --> 00:58:18.170 align:start position:0% minor is that felt threatened by this 00:58:18.170 --> 00:58:21.260 align:start position:0% minor is that felt threatened by this decided<00:58:19.170> to<00:58:19.380> just<00:58:20.220> create<00:58:20.490> their<00:58:20.790> own<00:58:20.820> heart 00:58:21.260 --> 00:58:21.270 align:start position:0% decided to just create their own heart 00:58:21.270 --> 00:58:22.790 align:start position:0% decided to just create their own heart Fork<00:58:21.540> to<00:58:21.750> increase<00:58:22.109> the<00:58:22.260> block<00:58:22.440> size<00:58:22.500> limit 00:58:22.790 --> 00:58:22.800 align:start position:0% Fork to increase the block size limit 00:58:22.800 --> 00:58:27.020 align:start position:0% Fork to increase the block size limit without<00:58:23.520> set<00:58:24.030> with<00:58:24.210> and<00:58:25.160> created<00:58:26.160> this<00:58:26.369> new 00:58:27.020 --> 00:58:27.030 align:start position:0% without set with and created this new 00:58:27.030 --> 00:58:29.540 align:start position:0% without set with and created this new point<00:58:27.240> that<00:58:27.660> we<00:58:27.780> now<00:58:28.050> call<00:58:28.380> Vic<00:58:28.560> one<00:58:28.740> cash<00:58:28.980> for 00:58:29.540 --> 00:58:29.550 align:start position:0% point that we now call Vic one cash for 00:58:29.550 --> 00:58:34.040 align:start position:0% point that we now call Vic one cash for BCH<00:58:30.080> and<00:58:31.080> now<00:58:31.770> with<00:58:32.220> a<00:58:32.670> new<00:58:33.240> chain<00:58:33.540> that<00:58:33.810> had 00:58:34.040 --> 00:58:34.050 align:start position:0% BCH and now with a new chain that had 00:58:34.050 --> 00:58:36.020 align:start position:0% BCH and now with a new chain that had you<00:58:34.530> know<00:58:34.650> more<00:58:35.070> a<00:58:35.100> bigger<00:58:35.520> block<00:58:35.790> size<00:58:36.000> limit 00:58:36.020 --> 00:58:36.030 align:start position:0% you know more a bigger block size limit 00:58:36.030 --> 00:58:38.450 align:start position:0% you know more a bigger block size limit and<00:58:36.600> said<00:58:37.200> with<00:58:37.410> activated<00:58:37.830> through<00:58:38.190> a<00:58:38.250> user 00:58:38.450 --> 00:58:38.460 align:start position:0% and said with activated through a user 00:58:38.460 --> 00:58:41.120 align:start position:0% and said with activated through a user activated<00:58:39.000> Southport<00:58:39.480> asset<00:58:40.290> the<00:58:40.530> wind<00:58:40.950> was 00:58:41.120 --> 00:58:41.130 align:start position:0% activated Southport asset the wind was 00:58:41.130 --> 00:58:43.040 align:start position:0% activated Southport asset the wind was completely<00:58:41.609> taken<00:58:41.760> out<00:58:42.000> of<00:58:42.060> segment<00:58:42.570> to<00:58:42.690> exit 00:58:43.040 --> 00:58:43.050 align:start position:0% completely taken out of segment to exit 00:58:43.050 --> 00:58:45.440 align:start position:0% completely taken out of segment to exit sales<00:58:43.320> and<00:58:43.619> the<00:58:44.190> segue<00:58:44.580> to<00:58:44.609> export<00:58:45.270> was 00:58:45.440 --> 00:58:45.450 align:start position:0% sales and the segue to export was 00:58:45.450 --> 00:58:47.780 align:start position:0% sales and the segue to export was eventually<00:58:45.690> expanded<00:58:46.410> by<00:58:46.680> the<00:58:47.100> people<00:58:47.609> who 00:58:47.780 --> 00:58:47.790 align:start position:0% eventually expanded by the people who 00:58:47.790 --> 00:58:51.200 align:start position:0% eventually expanded by the people who originally<00:58:48.540> proposed<00:58:49.230> it<00:58:49.640> like<00:58:50.640> to<00:58:51.060> more 00:58:51.200 --> 00:58:51.210 align:start position:0% originally proposed it like to more 00:58:51.210 --> 00:58:57.230 align:start position:0% originally proposed it like to more slack<00:58:51.420> so<00:58:52.020> yeah<00:58:52.859> deke<00:58:53.490> Ren<00:58:53.730> then<00:58:54.830> in<00:58:55.970> June<00:58:56.970> of 00:58:57.230 --> 00:58:57.240 align:start position:0% slack so yeah deke Ren then in June of 00:58:57.240 --> 00:59:01.670 align:start position:0% slack so yeah deke Ren then in June of 2017<00:58:58.250> activates<00:58:59.250> its<00:58:59.490> first<00:58:59.850> upgrade<00:59:00.780> using 00:59:01.670 --> 00:59:01.680 align:start position:0% 2017 activates its first upgrade using 00:59:01.680 --> 00:59:05.450 align:start position:0% 2017 activates its first upgrade using an<00:59:02.100> option<00:59:02.880> governance<00:59:03.420> mechanism<00:59:04.050> so<00:59:04.710> this 00:59:05.450 --> 00:59:05.460 align:start position:0% an option governance mechanism so this 00:59:05.460 --> 00:59:08.060 align:start position:0% an option governance mechanism so this was<00:59:05.609> a<00:59:05.640> way<00:59:05.880> that<00:59:06.380> basically<00:59:07.380> what<00:59:07.800> are<00:59:07.920> called 00:59:08.060 --> 00:59:08.070 align:start position:0% was a way that basically what are called 00:59:08.070 --> 00:59:09.710 align:start position:0% was a way that basically what are called like<00:59:08.190> take<00:59:08.520> a<00:59:08.550> whole<00:59:08.820> craft<00:59:09.030> block<00:59:09.270> chain<00:59:09.540> to 00:59:09.710 --> 00:59:09.720 align:start position:0% like take a whole craft block chain to 00:59:09.720 --> 00:59:12.800 align:start position:0% like take a whole craft block chain to vote<00:59:10.080> on<00:59:10.410> a<00:59:11.040> change<00:59:11.460> to<00:59:11.880> the<00:59:12.000> consensus<00:59:12.540> rules 00:59:12.800 --> 00:59:12.810 align:start position:0% vote on a change to the consensus rules 00:59:12.810 --> 00:59:16.670 align:start position:0% vote on a change to the consensus rules and<00:59:13.020> then<00:59:13.560> but<00:59:14.130> just<00:59:14.400> by<00:59:14.970> voting<00:59:15.680> the 00:59:16.670 --> 00:59:16.680 align:start position:0% and then but just by voting the 00:59:16.680 --> 00:59:19.190 align:start position:0% and then but just by voting the consensus<00:59:17.580> rules<00:59:17.850> would<00:59:18.450> actually<00:59:18.990> be 00:59:19.190 --> 00:59:19.200 align:start position:0% consensus rules would actually be 00:59:19.200 --> 00:59:21.290 align:start position:0% consensus rules would actually be changed<00:59:19.710> automatically<00:59:20.430> people<00:59:20.850> didn't<00:59:21.180> have 00:59:21.290 --> 00:59:21.300 align:start position:0% changed automatically people didn't have 00:59:21.300 --> 00:59:23.330 align:start position:0% changed automatically people didn't have to<00:59:21.359> upgrade<00:59:21.900> their<00:59:22.080> clients<00:59:22.590> their<00:59:22.950> clients 00:59:23.330 --> 00:59:23.340 align:start position:0% to upgrade their clients their clients 00:59:23.340 --> 00:59:24.290 align:start position:0% to upgrade their clients their clients which<00:59:23.460> is<00:59:23.640> recognized 00:59:24.290 --> 00:59:24.300 align:start position:0% which is recognized 00:59:24.300 --> 00:59:25.970 align:start position:0% which is recognized oh<00:59:24.359> this<00:59:24.720> is<00:59:24.900> the<00:59:25.020> way<00:59:25.109> that<00:59:25.260> ticket<00:59:25.650> holders 00:59:25.970 --> 00:59:25.980 align:start position:0% oh this is the way that ticket holders 00:59:25.980 --> 00:59:27.650 align:start position:0% oh this is the way that ticket holders voted<00:59:26.369> these<00:59:26.609> are<00:59:26.760> the<00:59:26.850> changes<00:59:27.300> I'm 00:59:27.650 --> 00:59:27.660 align:start position:0% voted these are the changes I'm 00:59:27.660 --> 00:59:30.020 align:start position:0% voted these are the changes I'm automatically<00:59:28.410> going<00:59:28.619> to<00:59:28.910> accept<00:59:29.910> these 00:59:30.020 --> 00:59:30.030 align:start position:0% automatically going to accept these 00:59:30.030 --> 00:59:32.330 align:start position:0% automatically going to accept these upgrades<00:59:30.540> so<00:59:31.440> this<00:59:31.590> is<00:59:31.740> kind<00:59:31.920> of<00:59:31.950> the<00:59:32.070> first 00:59:32.330 --> 00:59:32.340 align:start position:0% upgrades so this is kind of the first 00:59:32.340 --> 00:59:34.460 align:start position:0% upgrades so this is kind of the first example<00:59:32.970> of<00:59:33.090> successful<00:59:33.720> and<00:59:33.900> honoring 00:59:34.460 --> 00:59:34.470 align:start position:0% example of successful and honoring 00:59:34.470 --> 00:59:38.720 align:start position:0% example of successful and honoring evidence<00:59:34.950> in<00:59:35.520> action<00:59:37.010> or<00:59:38.010> like<00:59:38.280> on<00:59:38.460> chain 00:59:38.720 --> 00:59:38.730 align:start position:0% evidence in action or like on chain 00:59:38.730 --> 00:59:41.180 align:start position:0% evidence in action or like on chain tightly<00:59:39.150> coupled<00:59:39.330> earnings<00:59:40.260> over<00:59:40.560> the 00:59:41.180 --> 00:59:41.190 align:start position:0% tightly coupled earnings over the 00:59:41.190 --> 00:59:45.530 align:start position:0% tightly coupled earnings over the rules<00:59:41.700> specifically<00:59:42.859> and<00:59:43.859> then<00:59:44.540> most 00:59:45.530 --> 00:59:45.540 align:start position:0% rules specifically and then most 00:59:45.540 --> 00:59:48.190 align:start position:0% rules specifically and then most recently<00:59:45.630> password<00:59:46.530> to<00:59:46.770> your<00:59:46.950> June<00:59:47.339> 2018 00:59:48.190 --> 00:59:48.200 align:start position:0% recently password to your June 2018 00:59:48.200 --> 00:59:52.490 align:start position:0% recently password to your June 2018 idios<00:59:49.200> has<00:59:49.980> launched<00:59:50.430> it<00:59:51.359> was<00:59:51.510> launched<00:59:51.990> they 00:59:52.490 --> 00:59:52.500 align:start position:0% idios has launched it was launched they 00:59:52.500 --> 00:59:54.680 align:start position:0% idios has launched it was launched they also<00:59:53.040> have<00:59:53.339> this<00:59:53.490> idea<00:59:53.670> of<00:59:53.880> like<00:59:54.210> on<00:59:54.390> chain 00:59:54.680 --> 00:59:54.690 align:start position:0% also have this idea of like on chain 00:59:54.690 --> 00:59:57.230 align:start position:0% also have this idea of like on chain governance<00:59:55.170> over<00:59:55.290> consensus<00:59:55.950> rules<00:59:56.240> they 00:59:57.230 --> 00:59:57.240 align:start position:0% governance over consensus rules they 00:59:57.240 --> 00:59:58.819 align:start position:0% governance over consensus rules they wanted<00:59:57.569> to<00:59:57.630> pick<00:59:57.720> a<00:59:57.780> constitution<00:59:58.560> that<00:59:58.740> was 00:59:58.819 --> 00:59:58.829 align:start position:0% wanted to pick a constitution that was 00:59:58.829 --> 01:00:01.339 align:start position:0% wanted to pick a constitution that was intended<00:59:59.310> to<00:59:59.339> bind<00:59:59.730> how<01:00:00.150> these<01:00:00.390> rules<01:00:01.200> would 01:00:01.339 --> 01:00:01.349 align:start position:0% intended to bind how these rules would 01:00:01.349 --> 01:00:05.300 align:start position:0% intended to bind how these rules would change<01:00:01.650> and<01:00:02.010> of<01:00:02.910> course<01:00:03.800> block<01:00:04.800> producers 01:00:05.300 --> 01:00:05.310 align:start position:0% change and of course block producers 01:00:05.310 --> 01:00:08.200 align:start position:0% change and of course block producers like<01:00:05.970> the<01:00:06.210> equivalent<01:00:06.420> of<01:00:06.660> miners 01:00:08.200 --> 01:00:08.210 align:start position:0% like the equivalent of miners 01:00:08.210 --> 01:00:10.370 align:start position:0% like the equivalent of miners immediately<01:00:09.210> violate<01:00:09.750> the<01:00:09.810> Constitution 01:00:10.370 --> 01:00:10.380 align:start position:0% immediately violate the Constitution 01:00:10.380 --> 01:00:14.319 align:start position:0% immediately violate the Constitution they<01:00:11.040> decided<01:00:11.760> to<01:00:12.020> you<01:00:13.020> know<01:00:13.050> I<01:00:13.170> really<01:00:13.589> freeze 01:00:14.319 --> 01:00:14.329 align:start position:0% they decided to you know I really freeze 01:00:14.329 --> 01:00:16.370 align:start position:0% they decided to you know I really freeze some<01:00:15.329> accounts<01:00:15.780> that<01:00:15.960> had<01:00:16.170> been<01:00:16.349> identified 01:00:16.370 --> 01:00:16.380 align:start position:0% some accounts that had been identified 01:00:16.380 --> 01:00:20.000 align:start position:0% some accounts that had been identified as<01:00:17.190> potential<01:00:17.790> stammers<01:00:18.270> in<01:00:19.200> violation<01:00:19.800> of 01:00:20.000 --> 01:00:20.010 align:start position:0% as potential stammers in violation of 01:00:20.010 --> 01:00:21.829 align:start position:0% as potential stammers in violation of the<01:00:20.160> FIA's<01:00:20.430> Constitution<01:00:21.240> which<01:00:21.690> had 01:00:21.829 --> 01:00:21.839 align:start position:0% the FIA's Constitution which had 01:00:21.839 --> 01:00:23.660 align:start position:0% the FIA's Constitution which had actually<01:00:22.050> intended<01:00:22.980> for<01:00:23.190> that<01:00:23.310> kind<01:00:23.579> of 01:00:23.660 --> 01:00:23.670 align:start position:0% actually intended for that kind of 01:00:23.670 --> 01:00:25.309 align:start position:0% actually intended for that kind of action<01:00:24.030> to<01:00:24.060> be<01:00:24.210> taken<01:00:24.300> by<01:00:24.780> a<01:00:24.810> separate 01:00:25.309 --> 01:00:25.319 align:start position:0% action to be taken by a separate 01:00:25.319 --> 01:00:27.920 align:start position:0% action to be taken by a separate arbitration<01:00:25.530> body<01:00:26.510> so<01:00:27.510> they<01:00:27.630> kind<01:00:27.810> like 01:00:27.920 --> 01:00:27.930 align:start position:0% arbitration body so they kind like 01:00:27.930 --> 01:00:31.069 align:start position:0% arbitration body so they kind like routed<01:00:28.319> around<01:00:28.650> the<01:00:28.770> Constitution<01:00:29.400> to<01:00:30.079> extra 01:00:31.069 --> 01:00:31.079 align:start position:0% routed around the Constitution to extra 01:00:31.079 --> 01:00:33.950 align:start position:0% routed around the Constitution to extra legally<01:00:31.589> you<01:00:32.400> know<01:00:32.430> impose<01:00:32.880> justice<01:00:33.420> in<01:00:33.720> this 01:00:33.950 --> 01:00:33.960 align:start position:0% legally you know impose justice in this 01:00:33.960 --> 01:00:39.140 align:start position:0% legally you know impose justice in this case<01:00:35.690> once<01:00:36.690> again<01:00:36.810> a<01:00:37.260> fast<01:00:37.829> wording<01:00:38.250> to<01:00:38.490> April 01:00:39.140 --> 01:00:39.150 align:start position:0% case once again a fast wording to April 01:00:39.150 --> 01:00:40.099 align:start position:0% case once again a fast wording to April 2019 01:00:40.099 --> 01:00:40.109 align:start position:0% 2019 01:00:40.109 --> 01:00:44.329 align:start position:0% 2019 this<01:00:40.530> year<01:00:41.040> illegal<01:00:41.700> use<01:00:42.950> legally<01:00:43.950> scraps 01:00:44.329 --> 01:00:44.339 align:start position:0% this year illegal use legally scraps 01:00:44.339 --> 01:00:46.370 align:start position:0% this year illegal use legally scraps their<01:00:44.550> constitution<01:00:45.329> for<01:00:45.869> a<01:00:45.900> new<01:00:46.109> user 01:00:46.370 --> 01:00:46.380 align:start position:0% their constitution for a new user 01:00:46.380 --> 01:00:49.160 align:start position:0% their constitution for a new user agreement<01:00:46.950> the<01:00:47.369> reason<01:00:47.670> why<01:00:47.930> you<01:00:48.930> know<01:00:49.020> it's 01:00:49.160 --> 01:00:49.170 align:start position:0% agreement the reason why you know it's 01:00:49.170 --> 01:00:53.390 align:start position:0% agreement the reason why you know it's characterized<01:00:49.740> as<01:00:49.890> illegal<01:00:50.190> is<01:00:50.730> because<01:00:52.400> they 01:00:53.390 --> 01:00:53.400 align:start position:0% characterized as illegal is because they 01:00:53.400 --> 01:00:55.790 align:start position:0% characterized as illegal is because they adopted<01:00:53.940> this<01:00:54.150> youth<01:00:54.420> new<01:00:54.780> user<01:00:55.140> agreement 01:00:55.790 --> 01:00:55.800 align:start position:0% adopted this youth new user agreement 01:00:55.800 --> 01:00:58.160 align:start position:0% adopted this youth new user agreement with<01:00:55.980> only<01:00:56.280> one<01:00:56.670> point<01:00:56.940> seven<01:00:57.270> four<01:00:57.450> percent 01:00:58.160 --> 01:00:58.170 align:start position:0% with only one point seven four percent 01:00:58.170 --> 01:01:00.380 align:start position:0% with only one point seven four percent turnout<01:00:58.589> despite<01:00:59.430> the<01:00:59.819> fact<01:01:00.060> that<01:01:00.180> their 01:01:00.380 --> 01:01:00.390 align:start position:0% turnout despite the fact that their 01:01:00.390 --> 01:01:02.240 align:start position:0% turnout despite the fact that their constitution<01:01:01.079> and<01:01:01.260> actually<01:01:01.589> required<01:01:01.980> them 01:01:02.240 --> 01:01:02.250 align:start position:0% constitution and actually required them 01:01:02.250 --> 01:01:04.339 align:start position:0% constitution and actually required them to<01:01:02.369> have<01:01:02.490> a<01:01:02.520> fifteen<01:01:03.030> percent<01:01:03.390> turnout<01:01:04.109> to 01:01:04.339 --> 01:01:04.349 align:start position:0% to have a fifteen percent turnout to 01:01:04.349 --> 01:01:07.970 align:start position:0% to have a fifteen percent turnout to make<01:01:04.500> this<01:01:04.680> kind<01:01:04.859> of<01:01:05.040> changes<01:01:05.460> so<01:01:06.109> so<01:01:07.109> far<01:01:07.349> you 01:01:07.970 --> 01:01:07.980 align:start position:0% make this kind of changes so so far you 01:01:07.980 --> 01:01:09.829 align:start position:0% make this kind of changes so so far you know<01:01:08.369> the<01:01:08.700> blocking<01:01:09.210> governance<01:01:09.630> is<01:01:09.810> not 01:01:09.829 --> 01:01:09.839 align:start position:0% know the blocking governance is not 01:01:09.839 --> 01:01:14.560 align:start position:0% know the blocking governance is not going<01:01:10.230> so<01:01:10.440> well<01:01:10.680> for<01:01:10.710> refer<01:01:11.250> for<01:01:11.640> us<01:01:12.140> and<01:01:13.140> this 01:01:14.560 --> 01:01:14.570 align:start position:0% going so well for refer for us and this 01:01:14.570 --> 01:01:17.110 align:start position:0% going so well for refer for us and this the<01:01:14.630> end<01:01:14.870> of<01:01:15.110> my<01:01:15.980> presentation<01:01:16.370> because<01:01:16.820> we're 01:01:17.110 --> 01:01:17.120 align:start position:0% the end of my presentation because we're 01:01:17.120 --> 01:01:18.940 align:start position:0% the end of my presentation because we're a<01:01:17.150> 20-9<01:01:17.600> team<01:01:17.900> now<01:01:18.080> and<01:01:18.440> there<01:01:18.590> hasn't<01:01:18.770> been 01:01:18.940 --> 01:01:18.950 align:start position:0% a 20-9 team now and there hasn't been 01:01:18.950 --> 01:01:23.380 align:start position:0% a 20-9 team now and there hasn't been anything<01:01:19.280> like<01:01:20.470> incredibly<01:01:21.520> new<01:01:22.520> or<01:01:22.940> novel 01:01:23.380 --> 01:01:23.390 align:start position:0% anything like incredibly new or novel 01:01:23.390 --> 01:01:25.990 align:start position:0% anything like incredibly new or novel that's<01:01:24.050> happened<01:01:24.440> since<01:01:24.590> then<01:01:24.800> so<01:01:25.670> with<01:01:25.820> that 01:01:25.990 --> 01:01:26.000 align:start position:0% that's happened since then so with that 01:01:26.000 --> 01:01:28.090 align:start position:0% that's happened since then so with that I<01:01:26.300> will<01:01:27.110> end<01:01:27.320> the<01:01:27.440> presentation 01:01:28.090 --> 01:01:28.100 align:start position:0% I will end the presentation 01:01:28.100 --> 01:01:33.190 align:start position:0% I will end the presentation thank<01:01:28.550> you<01:01:28.670> for<01:01:31.390> talking<01:01:32.390> favors<01:01:32.810> with<01:01:32.930> me<01:01:33.050> and 01:01:33.190 --> 01:01:33.200 align:start position:0% thank you for talking favors with me and 01:01:33.200 --> 01:01:34.870 align:start position:0% thank you for talking favors with me and I<01:01:33.290> think<01:01:33.500> we'll<01:01:33.590> hear<01:01:33.740> more<01:01:34.070> from<01:01:34.460> Tesla's 01:01:34.870 --> 01:01:34.880 align:start position:0% I think we'll hear more from Tesla's 01:01:34.880 --> 01:01:37.060 align:start position:0% I think we'll hear more from Tesla's better<01:01:35.240> stay<01:01:35.510> that<01:01:35.540> was<01:01:35.780> this<01:01:35.900> year<01:01:36.110> yeah<01:01:36.560> yeah 01:01:37.060 --> 01:01:37.070 align:start position:0% better stay that was this year yeah yeah 01:01:37.070 --> 01:01:40.390 align:start position:0% better stay that was this year yeah yeah I<01:01:37.280> think<01:01:37.490> the<01:01:37.790> reason<01:01:38.090> why<01:01:38.210> I<01:01:38.740> included<01:01:39.740> it<01:01:40.070> is 01:01:40.390 --> 01:01:40.400 align:start position:0% I think the reason why I included it is 01:01:40.400 --> 01:01:43.990 align:start position:0% I think the reason why I included it is because<01:01:41.770> it's<01:01:42.770> while<01:01:43.220> a<01:01:43.520> certainly<01:01:43.970> a 01:01:43.990 --> 01:01:44.000 align:start position:0% because it's while a certainly a 01:01:44.000 --> 01:01:46.450 align:start position:0% because it's while a certainly a landmark<01:01:44.420> event<01:01:44.990> itself<01:01:45.590> it<01:01:45.890> wasn't<01:01:46.400> the 01:01:46.450 --> 01:01:46.460 align:start position:0% landmark event itself it wasn't the 01:01:46.460 --> 01:01:50.800 align:start position:0% landmark event itself it wasn't the first<01:01:46.640> time<01:01:46.790> that<01:01:47.240> I<01:01:47.270> wrapped<01:01:48.460> my<01:01:49.460> suite<01:01:49.820> we 01:01:50.800 --> 01:01:50.810 align:start position:0% first time that I wrapped my suite we 01:01:50.810 --> 01:01:54.250 align:start position:0% first time that I wrapped my suite we have<01:01:50.990> Alfonzo<01:01:51.710> avenged<01:01:52.280> speaking<01:01:52.790> about<01:01:53.260> also 01:01:54.250 --> 01:01:54.260 align:start position:0% have Alfonzo avenged speaking about also 01:01:54.260 --> 01:01:57.430 align:start position:0% have Alfonzo avenged speaking about also speaking<01:01:54.740> about<01:01:55.120> hook<01:01:56.120> it<01:01:56.210> up<01:01:56.300> governance<01:01:56.900> so 01:01:57.430 --> 01:01:57.440 align:start position:0% speaking about hook it up governance so 01:01:57.440 --> 01:01:59.760 align:start position:0% speaking about hook it up governance so this<01:01:57.560> is<01:01:57.680> the<01:01:57.770> first<01:01:58.100> of<01:01:58.910> our<01:01:59.030> lightning<01:01:59.420> talks 01:01:59.760 --> 01:01:59.770 align:start position:0% this is the first of our lightning talks 01:01:59.770 --> 01:02:01.960 align:start position:0% this is the first of our lightning talks and<01:02:00.770> then<01:02:01.070> from<01:02:01.250> this<01:02:01.340> point<01:02:01.520> forward<01:02:01.760> we're 01:02:01.960 --> 01:02:01.970 align:start position:0% and then from this point forward we're 01:02:01.970 --> 01:02:04.450 align:start position:0% and then from this point forward we're going<01:02:02.060> to<01:02:02.120> hear<01:02:02.270> a<01:02:02.300> series<01:02:02.570> of<01:02:02.720> talks<01:02:03.250> to<01:02:04.250> learn 01:02:04.450 --> 01:02:04.460 align:start position:0% going to hear a series of talks to learn 01:02:04.460 --> 01:02:06.070 align:start position:0% going to hear a series of talks to learn and<01:02:04.880> do<01:02:05.000> a<01:02:05.030> little<01:02:05.120> bit<01:02:05.270> of<01:02:05.330> a<01:02:05.360> deep<01:02:05.540> dive<01:02:05.570> on 01:02:06.070 --> 01:02:06.080 align:start position:0% and do a little bit of a deep dive on 01:02:06.080 --> 01:02:07.960 align:start position:0% and do a little bit of a deep dive on much<01:02:06.950> different<01:02:07.250> protocols<01:02:07.580> so<01:02:07.700> we're<01:02:07.820> going 01:02:07.960 --> 01:02:07.970 align:start position:0% much different protocols so we're going 01:02:07.970 --> 01:02:15.970 align:start position:0% much different protocols so we're going to<01:02:08.090> get<01:02:08.210> so<01:02:10.780> high<01:02:14.200> percent<01:02:15.200> their<01:02:15.560> visits 01:02:15.970 --> 01:02:15.980 align:start position:0% to get so high percent their visits 01:02:15.980 --> 01:02:21.010 align:start position:0% to get so high percent their visits about<01:02:16.430> the<01:02:18.130> dangers<01:02:19.130> of<01:02:19.160> I<01:02:19.310> use<01:02:20.020> computer 01:02:21.010 --> 01:02:21.020 align:start position:0% about the dangers of I use computer 01:02:21.020 --> 01:02:23.260 align:start position:0% about the dangers of I use computer scientist<01:02:21.590> and<01:02:21.890> mathematician<01:02:21.950> betrayed<01:02:22.700> me 01:02:23.260 --> 01:02:23.270 align:start position:0% scientist and mathematician betrayed me 01:02:23.270 --> 01:02:26.920 align:start position:0% scientist and mathematician betrayed me working<01:02:24.220> things<01:02:25.220> related<01:02:25.640> to<01:02:25.930> dimension 01:02:26.920 --> 01:02:26.930 align:start position:0% working things related to dimension 01:02:26.930 --> 01:02:36.310 align:start position:0% working things related to dimension algorithms<01:02:27.350> and<01:02:27.680> also<01:02:35.020> some<01:02:36.020> his<01:02:36.170> real 01:02:36.310 --> 01:02:36.320 align:start position:0% algorithms and also some his real 01:02:36.320 --> 01:02:38.220 align:start position:0% algorithms and also some his real reviews 01:02:38.220 --> 01:02:38.230 align:start position:0% reviews 01:02:38.230 --> 01:02:40.020 align:start position:0% reviews the<01:02:38.560> governor's<01:02:38.950> populist<01:02:39.400> taste<01:02:39.640> in 01:02:40.020 --> 01:02:40.030 align:start position:0% the governor's populist taste in 01:02:40.030 --> 01:02:45.690 align:start position:0% the governor's populist taste in staccato<01:02:40.600> quality<01:02:41.170> don't<01:02:41.500> run<01:02:41.860> for<01:02:42.040> it<01:02:44.490> so<01:02:45.490> it 01:02:45.690 --> 01:02:45.700 align:start position:0% staccato quality don't run for it so it 01:02:45.700 --> 01:02:48.630 align:start position:0% staccato quality don't run for it so it is<01:02:46.300> not<01:02:46.360> perfect<01:02:47.170> but<01:02:47.500> it's<01:02:47.740> the<01:02:47.920> best<01:02:48.040> cut<01:02:48.370> I'd 01:02:48.630 --> 01:02:48.640 align:start position:0% is not perfect but it's the best cut I'd 01:02:48.640 --> 01:02:52.200 align:start position:0% is not perfect but it's the best cut I'd say<01:02:49.080> some<01:02:50.080> of<01:02:50.110> the<01:02:50.910> problems<01:02:51.910> that<01:02:52.000> people 01:02:52.200 --> 01:02:52.210 align:start position:0% say some of the problems that people 01:02:52.210 --> 01:02:54.960 align:start position:0% say some of the problems that people like<01:02:52.570> to<01:02:52.600> point<01:02:52.870> out<01:02:53.020> with<01:02:53.610> commodities<01:02:54.610> that 01:02:54.960 --> 01:02:54.970 align:start position:0% like to point out with commodities that 01:02:54.970 --> 01:02:59.280 align:start position:0% like to point out with commodities that is<01:02:55.960> usually<01:02:56.110> learn<01:02:56.500> to<01:02:56.740> not<01:02:56.950> it's<01:02:57.960> too<01:02:58.960> slow 01:02:59.280 --> 01:02:59.290 align:start position:0% is usually learn to not it's too slow 01:02:59.290 --> 01:03:01.860 align:start position:0% is usually learn to not it's too slow governance<01:03:00.000> and<01:03:01.000> it<01:03:01.270> has<01:03:01.450> to<01:03:01.570> be<01:03:01.630> able<01:03:01.690> to 01:03:01.860 --> 01:03:01.870 align:start position:0% governance and it has to be able to 01:03:01.870 --> 01:03:04.740 align:start position:0% governance and it has to be able to curse<01:03:02.110> it<01:03:02.230> has<01:03:02.380> to<01:03:02.500> keep<01:03:02.620> our<01:03:02.830> to<01:03:03.480> win<01:03:04.480> a<01:03:04.510> lot<01:03:04.720> of 01:03:04.740 --> 01:03:04.750 align:start position:0% curse it has to keep our to win a lot of 01:03:04.750 --> 01:03:08.610 align:start position:0% curse it has to keep our to win a lot of points<01:03:05.140> so<01:03:05.830> I'm<01:03:06.580> going<01:03:06.910> to<01:03:06.970> present<01:03:07.350> ways<01:03:08.350> in 01:03:08.610 --> 01:03:08.620 align:start position:0% points so I'm going to present ways in 01:03:08.620 --> 01:03:13.170 align:start position:0% points so I'm going to present ways in which<01:03:08.740> we<01:03:09.120> combat<01:03:10.120> this<01:03:10.180> produce<01:03:11.880> some<01:03:12.880> of<01:03:12.970> mr. 01:03:13.170 --> 01:03:13.180 align:start position:0% which we combat this produce some of mr. 01:03:13.180 --> 01:03:16.020 align:start position:0% which we combat this produce some of mr. Hogan<01:03:13.690> potent<01:03:14.110> we're<01:03:15.040> going<01:03:15.220> to<01:03:15.280> use<01:03:15.430> time<01:03:15.760> ops 01:03:16.020 --> 01:03:16.030 align:start position:0% Hogan potent we're going to use time ops 01:03:16.030 --> 01:03:18.750 align:start position:0% Hogan potent we're going to use time ops which<01:03:16.360> means<01:03:16.570> that<01:03:16.840> it<01:03:17.530> matters<01:03:18.040> not<01:03:18.250> only<01:03:18.550> how 01:03:18.750 --> 01:03:18.760 align:start position:0% which means that it matters not only how 01:03:18.760 --> 01:03:22.410 align:start position:0% which means that it matters not only how much<01:03:19.380> we<01:03:20.380> cut<01:03:20.560> but<01:03:21.010> also<01:03:21.160> how<01:03:22.030> long<01:03:22.240> you're 01:03:22.410 --> 01:03:22.420 align:start position:0% much we cut but also how long you're 01:03:22.420 --> 01:03:26.910 align:start position:0% much we cut but also how long you're willing<01:03:22.750> to<01:03:22.780> lock<01:03:23.230> these<01:03:24.270> points<01:03:25.270> because<01:03:25.920> you 01:03:26.910 --> 01:03:26.920 align:start position:0% willing to lock these points because you 01:03:26.920 --> 01:03:28.170 align:start position:0% willing to lock these points because you are<01:03:27.040> actually<01:03:27.340> you<01:03:27.580> are<01:03:27.610> very<01:03:27.850> much<01:03:28.000> committed 01:03:28.170 --> 01:03:28.180 align:start position:0% are actually you are very much committed 01:03:28.180 --> 01:03:32.610 align:start position:0% are actually you are very much committed to<01:03:28.540> a<01:03:28.660> system<01:03:30.810> we<01:03:31.810> have<01:03:31.960> several<01:03:32.170> governance 01:03:32.610 --> 01:03:32.620 align:start position:0% to a system we have several governance 01:03:32.620 --> 01:03:36.060 align:start position:0% to a system we have several governance bodies<01:03:33.300> that<01:03:34.300> has<01:03:34.540> some<01:03:34.810> advantages<01:03:35.260> first 01:03:36.060 --> 01:03:36.070 align:start position:0% bodies that has some advantages first 01:03:36.070 --> 01:03:37.470 align:start position:0% bodies that has some advantages first one<01:03:36.250> is<01:03:36.370> a<01:03:36.460> increase<01:03:36.730> in<01:03:36.850> speed<01:03:37.060> because<01:03:37.360> there 01:03:37.470 --> 01:03:37.480 align:start position:0% one is a increase in speed because there 01:03:37.480 --> 01:03:39.780 align:start position:0% one is a increase in speed because there are<01:03:37.570> more<01:03:37.660> channels<01:03:37.960> to<01:03:38.350> decision-making<01:03:39.280> and 01:03:39.780 --> 01:03:39.790 align:start position:0% are more channels to decision-making and 01:03:39.790 --> 01:03:41.100 align:start position:0% are more channels to decision-making and the<01:03:39.850> second<01:03:40.150> is<01:03:40.240> that<01:03:40.270> there<01:03:40.510> are<01:03:40.630> more<01:03:40.750> checks 01:03:41.100 --> 01:03:41.110 align:start position:0% the second is that there are more checks 01:03:41.110 --> 01:03:43.560 align:start position:0% the second is that there are more checks process<01:03:41.530> because<01:03:41.770> they<01:03:41.890> can<01:03:42.330> check<01:03:43.330> to<01:03:43.360> each 01:03:43.560 --> 01:03:43.570 align:start position:0% process because they can check to each 01:03:43.570 --> 01:03:46.800 align:start position:0% process because they can check to each other<01:03:44.790> and<01:03:45.790> we<01:03:46.030> try<01:03:46.210> to<01:03:46.240> give<01:03:46.480> power<01:03:46.660> to 01:03:46.800 --> 01:03:46.810 align:start position:0% other and we try to give power to 01:03:46.810 --> 01:03:49.710 align:start position:0% other and we try to give power to minorities<01:03:47.380> and<01:03:47.560> we<01:03:47.800> obtain<01:03:48.190> that<01:03:48.570> in<01:03:49.570> two 01:03:49.710 --> 01:03:49.720 align:start position:0% minorities and we obtain that in two 01:03:49.720 --> 01:03:51.690 align:start position:0% minorities and we obtain that in two ways<01:03:49.930> why<01:03:50.560> proportional<01:03:51.220> precipitation 01:03:51.690 --> 01:03:51.700 align:start position:0% ways why proportional precipitation 01:03:51.700 --> 01:03:55.490 align:start position:0% ways why proportional precipitation making<01:03:52.000> sure<01:03:52.120> that<01:03:52.300> minorities<01:03:53.260> are<01:03:53.290> as<01:03:53.860> well 01:03:55.490 --> 01:03:55.500 align:start position:0% making sure that minorities are as well 01:03:55.500 --> 01:03:58.410 align:start position:0% making sure that minorities are as well second<01:03:56.500> is<01:03:56.560> an<01:03:56.860> acquittal<01:03:57.280> rate<01:03:57.310> I<01:03:57.580> will<01:03:57.730> say 01:03:58.410 --> 01:03:58.420 align:start position:0% second is an acquittal rate I will say 01:03:58.420 --> 01:04:02.730 align:start position:0% second is an acquittal rate I will say more<01:03:58.570> about<01:03:58.630> that<01:03:58.810> later<01:04:01.230> so<01:04:02.230> who<01:04:02.530> are<01:04:02.590> the 01:04:02.730 --> 01:04:02.740 align:start position:0% more about that later so who are the 01:04:02.740 --> 01:04:04.840 align:start position:0% more about that later so who are the stakeholders 01:04:04.840 --> 01:04:04.850 align:start position:0% stakeholders 01:04:04.850 --> 01:04:07.960 align:start position:0% stakeholders I<01:04:05.410> hope<01:04:06.410> you<01:04:06.530> are<01:04:06.620> well<01:04:06.860> coconuts 01:04:07.960 --> 01:04:07.970 align:start position:0% I hope you are well coconuts 01:04:07.970 --> 01:04:09.850 align:start position:0% I hope you are well coconuts I<01:04:08.090> respect<01:04:08.930> complex<01:04:09.230> and<01:04:09.350> I<01:04:09.440> don't<01:04:09.500> have<01:04:09.710> time 01:04:09.850 --> 01:04:09.860 align:start position:0% I respect complex and I don't have time 01:04:09.860 --> 01:04:11.860 align:start position:0% I respect complex and I don't have time to<01:04:09.980> go<01:04:10.070> into<01:04:10.190> it 01:04:11.860 --> 01:04:11.870 align:start position:0% to go into it 01:04:11.870 --> 01:04:13.960 align:start position:0% to go into it there<01:04:12.470> are<01:04:12.560> validators<01:04:13.160> that<01:04:13.640> it<01:04:13.790> was<01:04:13.940> a 01:04:13.960 --> 01:04:13.970 align:start position:0% there are validators that it was a 01:04:13.970 --> 01:04:16.420 align:start position:0% there are validators that it was a brought<01:04:14.630> the<01:04:14.810> consensus<01:04:15.470> protocol<01:04:15.830> there 01:04:16.420 --> 01:04:16.430 align:start position:0% brought the consensus protocol there 01:04:16.430 --> 01:04:20.500 align:start position:0% brought the consensus protocol there illuminators<01:04:18.250> coin<01:04:19.250> holders<01:04:19.730> who<01:04:20.000> supports 01:04:20.500 --> 01:04:20.510 align:start position:0% illuminators coin holders who supports 01:04:20.510 --> 01:04:22.960 align:start position:0% illuminators coin holders who supports the<01:04:20.990> election<01:04:21.560> validators<01:04:22.070> and<01:04:22.370> they<01:04:22.640> get 01:04:22.960 --> 01:04:22.970 align:start position:0% the election validators and they get 01:04:22.970 --> 01:04:27.160 align:start position:0% the election validators and they get rewarded<01:04:23.540> to<01:04:23.960> medical<01:04:24.320> validators<01:04:26.170> their 01:04:27.160 --> 01:04:27.170 align:start position:0% rewarded to medical validators their 01:04:27.170 --> 01:04:29.410 align:start position:0% rewarded to medical validators their parents<01:04:27.980> franchise<01:04:28.580> also<01:04:28.850> have<01:04:29.120> to<01:04:29.270> uphold 01:04:29.410 --> 01:04:29.420 align:start position:0% parents franchise also have to uphold 01:04:29.420 --> 01:04:34.410 align:start position:0% parents franchise also have to uphold God's<01:04:30.160> because<01:04:31.160> they<01:04:31.310> needed<01:04:31.700> to<01:04:32.740> secure 01:04:34.410 --> 01:04:34.420 align:start position:0% God's because they needed to secure 01:04:34.420 --> 01:04:37.090 align:start position:0% God's because they needed to secure conscience<01:04:35.420> that<01:04:35.600> so<01:04:36.260> the<01:04:36.530> projects<01:04:36.980> that's 01:04:37.090 --> 01:04:37.100 align:start position:0% conscience that so the projects that's 01:04:37.100 --> 01:04:39.850 align:start position:0% conscience that so the projects that's are<01:04:37.250> gonna<01:04:37.400> be<01:04:37.580> given<01:04:37.820> out<01:04:38.470> at<01:04:39.470> least<01:04:39.680> some<01:04:39.830> of 01:04:39.850 --> 01:04:39.860 align:start position:0% are gonna be given out at least some of 01:04:39.860 --> 01:04:44.610 align:start position:0% are gonna be given out at least some of them<01:04:40.070> are<01:04:40.190> going<01:04:40.340> to<01:04:40.400> give<01:04:40.580> given<01:04:40.910> out<01:04:41.030> through 01:04:44.610 --> 01:04:44.620 align:start position:0% 01:04:44.620 --> 01:04:51.280 align:start position:0% just<01:04:45.620> actually<01:04:48.520> okay<01:04:49.550> and<01:04:49.820> of<01:04:50.600> course<01:04:50.840> misters 01:04:51.280 --> 01:04:51.290 align:start position:0% just actually okay and of course misters 01:04:51.290 --> 01:04:53.350 align:start position:0% just actually okay and of course misters there<01:04:51.680> are<01:04:51.830> others<01:04:52.220> and<01:04:52.640> their<01:04:52.910> own<01:04:53.030> account 01:04:53.350 --> 01:04:53.360 align:start position:0% there are others and their own account 01:04:53.360 --> 01:04:56.620 align:start position:0% there are others and their own account holders<01:04:54.190> and<01:04:55.190> I<01:04:55.370> would<01:04:55.490> like<01:04:55.610> to<01:04:55.760> point<01:04:56.450> out 01:04:56.620 --> 01:04:56.630 align:start position:0% holders and I would like to point out 01:04:56.630 --> 01:04:58.750 align:start position:0% holders and I would like to point out the<01:04:57.110> first<01:04:57.260> ones<01:04:57.500> are<01:04:57.740> love<01:04:57.950> at<01:04:58.160> Second<01:04:58.430> Sight 01:04:58.750 --> 01:04:58.760 align:start position:0% the first ones are love at Second Sight 01:04:58.760 --> 01:05:02.920 align:start position:0% the first ones are love at Second Sight liquid<01:04:59.560> we<01:05:00.560> want<01:05:00.860> to<01:05:01.070> give<01:05:01.310> having<01:05:02.120> more<01:05:02.630> voice 01:05:02.920 --> 01:05:02.930 align:start position:0% liquid we want to give having more voice 01:05:02.930 --> 01:05:07.030 align:start position:0% liquid we want to give having more voice to<01:05:03.880> whatever<01:05:04.880> there<01:05:05.480> are<01:05:05.600> not<01:05:05.810> because<01:05:06.560> as<01:05:06.950> I 01:05:07.030 --> 01:05:07.040 align:start position:0% to whatever there are not because as I 01:05:07.040 --> 01:05:10.000 align:start position:0% to whatever there are not because as I said<01:05:07.280> people<01:05:08.270> with<01:05:08.840> love<01:05:09.050> stake<01:05:09.410> have<01:05:09.680> more 01:05:10.000 --> 01:05:10.010 align:start position:0% said people with love stake have more 01:05:10.010 --> 01:05:13.450 align:start position:0% said people with love stake have more skin<01:05:10.880> today<01:05:11.030> and<01:05:11.680> we<01:05:12.680> can<01:05:12.860> trust<01:05:13.130> that<01:05:13.250> they 01:05:13.450 --> 01:05:13.460 align:start position:0% skin today and we can trust that they 01:05:13.460 --> 01:05:14.980 align:start position:0% skin today and we can trust that they meet<01:05:13.640> they<01:05:13.820> that<01:05:14.180> I<01:05:14.270> care<01:05:14.480> more<01:05:14.600> about<01:05:14.660> the 01:05:14.980 --> 01:05:14.990 align:start position:0% meet they that I care more about the 01:05:14.990 --> 01:05:22.330 align:start position:0% meet they that I care more about the future<01:05:15.350> of<01:05:19.720> okay<01:05:20.720> so<01:05:21.200> decision<01:05:21.830> making 01:05:22.330 --> 01:05:22.340 align:start position:0% future of okay so decision making 01:05:22.340 --> 01:05:23.920 align:start position:0% future of okay so decision making governance<01:05:23.150> is<01:05:23.240> going<01:05:23.420> to<01:05:23.480> be<01:05:23.540> based<01:05:23.750> in 01:05:23.920 --> 01:05:23.930 align:start position:0% governance is going to be based in 01:05:23.930 --> 01:05:26.670 align:start position:0% governance is going to be based in referendum<01:05:24.410> they<01:05:25.040> are<01:05:25.190> going<01:05:25.400> to<01:05:25.490> be 01:05:26.670 --> 01:05:26.680 align:start position:0% referendum they are going to be 01:05:26.680 --> 01:05:31.960 align:start position:0% referendum they are going to be different<01:05:27.680> about<01:05:27.740> once<01:05:28.520> a<01:05:28.640> month<01:05:28.760> and<01:05:30.970> please 01:05:31.960 --> 01:05:31.970 align:start position:0% different about once a month and please 01:05:31.970 --> 01:05:34.330 align:start position:0% different about once a month and please there's<01:05:32.840> a<01:05:32.990> public<01:05:33.290> proposals<01:05:33.800> anybody<01:05:34.220> is 01:05:34.330 --> 01:05:34.340 align:start position:0% there's a public proposals anybody is 01:05:34.340 --> 01:05:38.380 align:start position:0% there's a public proposals anybody is free<01:05:35.060> to<01:05:35.210> propose<01:05:35.410> there's<01:05:37.390> sponsored 01:05:38.380 --> 01:05:38.390 align:start position:0% free to propose there's sponsored 01:05:38.390 --> 01:05:39.150 align:start position:0% free to propose there's sponsored proposals 01:05:39.150 --> 01:05:39.160 align:start position:0% proposals 01:05:39.160 --> 01:05:42.600 align:start position:0% proposals oh<01:05:39.850> there<01:05:40.360> can<01:05:40.740> sponsor<01:05:41.740> a<01:05:41.920> proposal<01:05:42.400> that 01:05:42.600 --> 01:05:42.610 align:start position:0% oh there can sponsor a proposal that 01:05:42.610 --> 01:05:44.850 align:start position:0% oh there can sponsor a proposal that they<01:05:42.790> liked<01:05:43.000> and<01:05:43.630> then<01:05:43.810> once<01:05:44.020> one<01:05:44.320> we're<01:05:44.650> gonna 01:05:44.850 --> 01:05:44.860 align:start position:0% they liked and then once one we're gonna 01:05:44.860 --> 01:05:47.430 align:start position:0% they liked and then once one we're gonna take<01:05:45.790> the<01:05:46.150> most<01:05:46.360> popular<01:05:46.750> proposal<01:05:47.260> addresses 01:05:47.430 --> 01:05:47.440 align:start position:0% take the most popular proposal addresses 01:05:47.440 --> 01:05:52.050 align:start position:0% take the most popular proposal addresses to<01:05:47.920> referendum<01:05:50.100> just<01:05:51.100> when<01:05:51.220> we<01:05:51.310> voted<01:05:51.520> one 01:05:52.050 --> 01:05:52.060 align:start position:0% to referendum just when we voted one 01:05:52.060 --> 01:05:54.810 align:start position:0% to referendum just when we voted one month<01:05:52.270> and<01:05:52.870> there's<01:05:53.230> really<01:05:53.680> not<01:05:54.130> many<01:05:54.310> late 01:05:54.810 --> 01:05:54.820 align:start position:0% month and there's really not many late 01:05:54.820 --> 01:05:58.470 align:start position:0% month and there's really not many late that<01:05:55.540> is<01:05:55.630> the<01:05:56.290> time<01:05:56.500> between<01:05:57.480> deciding 01:05:58.470 --> 01:05:58.480 align:start position:0% that is the time between deciding 01:05:58.480 --> 01:06:00.450 align:start position:0% that is the time between deciding something<01:05:58.870> deciding<01:05:59.590> our<01:05:59.770> proposal<01:06:00.280> and 01:06:00.450 --> 01:06:00.460 align:start position:0% something deciding our proposal and 01:06:00.460 --> 01:06:04.770 align:start position:0% something deciding our proposal and actually<01:06:00.970> implementing<01:06:03.090> this<01:06:04.090> is<01:06:04.270> important 01:06:04.770 --> 01:06:04.780 align:start position:0% actually implementing this is important 01:06:04.780 --> 01:06:09.180 align:start position:0% actually implementing this is important because<01:06:04.840> it<01:06:05.410> is<01:06:05.760> our<01:06:06.760> two<01:06:07.120> people<01:06:07.450> who<01:06:08.190> didn't 01:06:09.180 --> 01:06:09.190 align:start position:0% because it is our two people who didn't 01:06:09.190 --> 01:06:11.070 align:start position:0% because it is our two people who didn't agree<01:06:09.340> with<01:06:09.430> it<01:06:09.610> to<01:06:10.450> actually<01:06:10.810> leave<01:06:10.960> the 01:06:11.070 --> 01:06:11.080 align:start position:0% agree with it to actually leave the 01:06:11.080 --> 01:06:13.260 align:start position:0% agree with it to actually leave the system<01:06:11.260> so<01:06:11.830> that<01:06:11.860> they<01:06:12.310> know<01:06:12.670> that<01:06:12.700> something 01:06:13.260 --> 01:06:13.270 align:start position:0% system so that they know that something 01:06:13.270 --> 01:06:15.510 align:start position:0% system so that they know that something is<01:06:13.510> going<01:06:13.660> to<01:06:13.750> take<01:06:14.650> place<01:06:14.770> in<01:06:14.890> two<01:06:15.100> weeks 01:06:15.510 --> 01:06:15.520 align:start position:0% is going to take place in two weeks 01:06:15.520 --> 01:06:17.640 align:start position:0% is going to take place in two weeks some<01:06:16.120> days<01:06:16.330> to<01:06:16.360> decide<01:06:16.780> to<01:06:16.930> move<01:06:17.080> to<01:06:17.380> sell 01:06:17.640 --> 01:06:17.650 align:start position:0% some days to decide to move to sell 01:06:17.650 --> 01:06:19.950 align:start position:0% some days to decide to move to sell their<01:06:17.800> goods<01:06:17.950> in<01:06:18.280> there<01:06:18.970> like<01:06:19.480> it<01:06:19.510> so<01:06:19.750> this<01:06:19.900> is 01:06:19.950 --> 01:06:19.960 align:start position:0% their goods in there like it so this is 01:06:19.960 --> 01:06:27.350 align:start position:0% their goods in there like it so this is some<01:06:20.410> protection<01:06:20.830> for<01:06:23.400> some<01:06:24.400> protection 01:06:27.350 --> 01:06:27.360 align:start position:0% 01:06:27.360 --> 01:06:30.390 align:start position:0% there's<01:06:28.360> a<01:06:28.480> voluntary<01:06:28.900> type<01:06:29.140> of<01:06:29.350> editor<01:06:29.770> so 01:06:30.390 --> 01:06:30.400 align:start position:0% there's a voluntary type of editor so 01:06:30.400 --> 01:06:34.370 align:start position:0% there's a voluntary type of editor so everybody<01:06:31.090> else<01:06:31.450> and<01:06:31.840> we<01:06:32.050> has<01:06:32.560> to<01:06:32.590> lock<01:06:33.220> the 01:06:34.370 --> 01:06:34.380 align:start position:0% everybody else and we has to lock the 01:06:34.380 --> 01:06:40.290 align:start position:0% everybody else and we has to lock the cons<01:06:35.380> which<01:06:35.740> they<01:06:38.580> but<01:06:39.580> if<01:06:39.730> they<01:06:39.820> decide<01:06:40.150> to 01:06:40.290 --> 01:06:40.300 align:start position:0% cons which they but if they decide to 01:06:40.300 --> 01:06:44.310 align:start position:0% cons which they but if they decide to talk<01:06:40.870> for<01:06:41.080> a<01:06:41.140> longer<01:06:41.380> fuse<01:06:41.770> and<01:06:42.520> it's<01:06:43.320> high 01:06:44.310 --> 01:06:44.320 align:start position:0% talk for a longer fuse and it's high 01:06:44.320 --> 01:06:53.450 align:start position:0% talk for a longer fuse and it's high time<01:06:47.880> that<01:06:48.880> it's<01:06:49.690> faster<01:06:50.050> yes<01:06:50.590> take<01:06:52.080> this<01:06:53.080> body 01:06:53.450 --> 01:06:53.460 align:start position:0% time that it's faster yes take this body 01:06:53.460 --> 01:06:56.550 align:start position:0% time that it's faster yes take this body council<01:06:54.840> can<01:06:55.840> be<01:06:55.930> elected<01:06:56.200> by<01:06:56.320> stakeholders 01:06:56.550 --> 01:06:56.560 align:start position:0% council can be elected by stakeholders 01:06:56.560 --> 01:06:58.770 align:start position:0% council can be elected by stakeholders their<01:06:57.460> motion<01:06:57.820> is<01:06:57.910> to<01:06:58.030> represent<01:06:58.180> the 01:06:58.770 --> 01:06:58.780 align:start position:0% their motion is to represent the 01:06:58.780 --> 01:07:01.160 align:start position:0% their motion is to represent the interests<01:06:59.740> of<01:06:59.800> the<01:06:59.890> stakeholders<01:07:00.070> and 01:07:01.160 --> 01:07:01.170 align:start position:0% interests of the stakeholders and 01:07:01.170 --> 01:07:02.540 align:start position:0% interests of the stakeholders and something<01:07:02.170> I<01:07:02.230> want 01:07:02.540 --> 01:07:02.550 align:start position:0% something I want 01:07:02.550 --> 01:07:05.030 align:start position:0% something I want is<01:07:03.090> that<01:07:03.420> the<01:07:03.690> way<01:07:03.840> we<01:07:03.870> elect<01:07:04.230> the<01:07:04.680> custom 01:07:05.030 --> 01:07:05.040 align:start position:0% is that the way we elect the custom 01:07:05.040 --> 01:07:07.250 align:start position:0% is that the way we elect the custom universities<01:07:05.720> through<01:07:06.720> something<01:07:07.110> called 01:07:07.250 --> 01:07:07.260 align:start position:0% universities through something called 01:07:07.260 --> 01:07:08.390 align:start position:0% universities through something called the<01:07:07.320> Russian<01:07:07.530> representation<01:07:08.160> which 01:07:08.390 --> 01:07:08.400 align:start position:0% the Russian representation which 01:07:08.400 --> 01:07:12.200 align:start position:0% the Russian representation which basically<01:07:08.790> means<01:07:09.090> that<01:07:09.260> if<01:07:10.260> this<01:07:10.880> 10%<01:07:11.880> of<01:07:12.000> coin 01:07:12.200 --> 01:07:12.210 align:start position:0% basically means that if this 10% of coin 01:07:12.210 --> 01:07:16.130 align:start position:0% basically means that if this 10% of coin holders<01:07:12.630> that<01:07:12.900> have<01:07:13.280> similarity<01:07:14.280> twists<01:07:15.140> then 01:07:16.130 --> 01:07:16.140 align:start position:0% holders that have similarity twists then 01:07:16.140 --> 01:07:17.960 align:start position:0% holders that have similarity twists then they're<01:07:16.770> guaranteed<01:07:17.280> to<01:07:17.310> be<01:07:17.520> represented<01:07:17.910> by 01:07:17.960 --> 01:07:17.970 align:start position:0% they're guaranteed to be represented by 01:07:17.970 --> 01:07:19.430 align:start position:0% they're guaranteed to be represented by at<01:07:18.090> least<01:07:18.150> 10%<01:07:18.420> of<01:07:18.720> the<01:07:18.810> seats<01:07:19.050> in<01:07:19.260> the 01:07:19.430 --> 01:07:19.440 align:start position:0% at least 10% of the seats in the 01:07:19.440 --> 01:07:21.830 align:start position:0% at least 10% of the seats in the crossover<01:07:19.830> or<01:07:20.040> the<01:07:20.550> same<01:07:20.730> 20%<01:07:21.360> or<01:07:21.510> the<01:07:21.660> same 01:07:21.830 --> 01:07:21.840 align:start position:0% crossover or the same 20% or the same 01:07:21.840 --> 01:07:26.180 align:start position:0% crossover or the same 20% or the same with<01:07:22.070> 5%<01:07:23.870> this<01:07:24.870> is<01:07:24.960> very<01:07:25.170> different<01:07:25.320> to<01:07:25.680> some 01:07:26.180 --> 01:07:26.190 align:start position:0% with 5% this is very different to some 01:07:26.190 --> 01:07:28.610 align:start position:0% with 5% this is very different to some other<01:07:26.430> kind<01:07:26.730> of<01:07:26.910> representation<01:07:27.870> systems 01:07:28.610 --> 01:07:28.620 align:start position:0% other kind of representation systems 01:07:28.620 --> 01:07:30.830 align:start position:0% other kind of representation systems were<01:07:28.830> only<01:07:29.160> really<01:07:29.700> two<01:07:29.970> big<01:07:30.090> majorities<01:07:30.630> the 01:07:30.830 --> 01:07:30.840 align:start position:0% were only really two big majorities the 01:07:30.840 --> 01:07:32.390 align:start position:0% were only really two big majorities the center<01:07:31.320> than<01:07:31.440> the<01:07:31.530> one<01:07:31.650> that<01:07:31.770> says<01:07:31.920> no<01:07:32.010> sample 01:07:32.390 --> 01:07:32.400 align:start position:0% center than the one that says no sample 01:07:32.400 --> 01:07:35.050 align:start position:0% center than the one that says no sample so<01:07:32.940> we<01:07:32.970> really<01:07:33.420> want<01:07:33.600> to<01:07:33.660> stress<01:07:34.320> various 01:07:35.050 --> 01:07:35.060 align:start position:0% so we really want to stress various 01:07:35.060 --> 01:07:37.460 align:start position:0% so we really want to stress various because<01:07:36.060> also<01:07:36.390> this<01:07:36.630> gives<01:07:36.870> checks<01:07:37.290> and 01:07:37.460 --> 01:07:37.470 align:start position:0% because also this gives checks and 01:07:37.470 --> 01:07:41.390 align:start position:0% because also this gives checks and balances<01:07:39.170> because<01:07:40.170> the<01:07:40.260> council<01:07:40.440> has<01:07:40.890> some 01:07:41.390 --> 01:07:41.400 align:start position:0% balances because the council has some 01:07:41.400 --> 01:07:43.400 align:start position:0% balances because the council has some power<01:07:41.580> and<01:07:41.730> we<01:07:41.970> want<01:07:42.150> to<01:07:42.240> make<01:07:42.360> sure<01:07:42.390> that<01:07:42.840> it 01:07:43.400 --> 01:07:43.410 align:start position:0% power and we want to make sure that it 01:07:43.410 --> 01:07:47.980 align:start position:0% power and we want to make sure that it represents<01:07:43.860> everybody<01:07:44.310> and<01:07:44.940> if<01:07:45.330> there<01:07:45.660> is<01:07:45.780> no 01:07:47.980 --> 01:07:47.990 align:start position:0% represents everybody and if there is no 01:07:47.990 --> 01:07:50.450 align:start position:0% represents everybody and if there is no limit<01:07:48.990> in<01:07:49.080> the<01:07:49.200> console<01:07:49.560> then<01:07:49.860> they<01:07:50.010> basically 01:07:50.450 --> 01:07:50.460 align:start position:0% limit in the console then they basically 01:07:50.460 --> 01:07:51.650 align:start position:0% limit in the console then they basically have<01:07:50.730> no<01:07:50.880> power<01:07:51.060> well<01:07:51.210> that's<01:07:51.390> a<01:07:51.480> good<01:07:51.600> thing 01:07:51.650 --> 01:07:51.660 align:start position:0% have no power well that's a good thing 01:07:51.660 --> 01:07:54.260 align:start position:0% have no power well that's a good thing it's<01:07:52.650> very<01:07:52.770> hard<01:07:53.130> to<01:07:53.220> for<01:07:53.670> the<01:07:53.760> console<01:07:54.090> to 01:07:54.260 --> 01:07:54.270 align:start position:0% it's very hard to for the console to 01:07:54.270 --> 01:07:58.780 align:start position:0% it's very hard to for the console to have<01:07:54.540> supermajority<01:07:55.440> silence<01:07:55.950> on<01:07:56.130> the<01:07:56.220> things 01:07:58.780 --> 01:07:58.790 align:start position:0% 01:07:58.790 --> 01:08:02.810 align:start position:0% this<01:07:59.790> is<01:08:00.480> so<01:08:00.660> nice<01:08:01.040> laughter<01:08:02.040> of<01:08:02.130> a<01:08:02.220> sense<01:08:02.460> this 01:08:02.810 --> 01:08:02.820 align:start position:0% this is so nice laughter of a sense this 01:08:02.820 --> 01:08:05.690 align:start position:0% this is so nice laughter of a sense this personal<01:08:03.270> presentation<01:08:03.510> can<01:08:04.170> imagine<01:08:04.470> that<01:08:04.700> I 01:08:05.690 --> 01:08:05.700 align:start position:0% personal presentation can imagine that I 01:08:05.700 --> 01:08:08.390 align:start position:0% personal presentation can imagine that I recall<01:08:06.300> it<01:08:06.480> represents<01:08:06.990> something<01:08:07.710> ideal<01:08:08.190> has 01:08:08.390 --> 01:08:08.400 align:start position:0% recall it represents something ideal has 01:08:08.400 --> 01:08:10.220 align:start position:0% recall it represents something ideal has some<01:08:08.640> different<01:08:09.150> point<01:08:09.300> of<01:08:09.360> view<01:08:09.510> and<01:08:09.780> each 01:08:10.220 --> 01:08:10.230 align:start position:0% some different point of view and each 01:08:10.230 --> 01:08:11.630 align:start position:0% some different point of view and each one<01:08:10.410> of<01:08:10.530> them<01:08:10.680> is<01:08:10.890> going<01:08:11.040> to<01:08:11.130> get<01:08:11.250> one<01:08:11.460> wish 01:08:11.630 --> 01:08:11.640 align:start position:0% one of them is going to get one wish 01:08:11.640 --> 01:08:15.300 align:start position:0% one of them is going to get one wish that<01:08:11.850> even<01:08:12.060> possible 01:08:15.300 --> 01:08:15.310 align:start position:0% 01:08:15.310 --> 01:08:22.309 align:start position:0% oh<01:08:16.589> the<01:08:17.589> gentleman<01:08:17.950> over<01:08:17.980> there<01:08:20.310> I'm<01:08:21.310> not 01:08:22.309 --> 01:08:22.319 align:start position:0% oh the gentleman over there I'm not 01:08:22.319 --> 01:08:30.150 align:start position:0% oh the gentleman over there I'm not sorry<01:08:25.290> just<01:08:26.290> say<01:08:27.240> what<01:08:28.410> the<01:08:29.410> thing<01:08:29.589> also<01:08:29.890> can't 01:08:30.150 --> 01:08:30.160 align:start position:0% sorry just say what the thing also can't 01:08:30.160 --> 01:08:33.720 align:start position:0% sorry just say what the thing also can't stop<01:08:31.200> can<01:08:32.200> mitigate<01:08:32.380> artificially<01:08:33.370> dangerous 01:08:33.720 --> 01:08:33.730 align:start position:0% stop can mitigate artificially dangerous 01:08:33.730 --> 01:08:35.430 align:start position:0% stop can mitigate artificially dangerous inhalation<01:08:34.000> proposal<01:08:34.569> to<01:08:34.690> confess<01:08:35.049> directly 01:08:35.430 --> 01:08:35.440 align:start position:0% inhalation proposal to confess directly 01:08:35.440 --> 01:08:39.690 align:start position:0% inhalation proposal to confess directly for<01:08:35.950> proposals<01:08:37.799> but<01:08:38.799> as<01:08:38.890> he<01:08:38.980> said<01:08:39.160> mostly<01:08:39.460> mine 01:08:39.690 --> 01:08:39.700 align:start position:0% for proposals but as he said mostly mine 01:08:39.700 --> 01:08:51.930 align:start position:0% for proposals but as he said mostly mine it<01:08:39.910> doesn't<01:08:39.940> have<01:08:40.330> a<01:08:40.359> lot<01:08:40.540> of<01:08:40.569> power<01:08:50.250> so<01:08:51.250> yeah 01:08:51.930 --> 01:08:51.940 align:start position:0% it doesn't have a lot of power so yeah 01:08:51.940 --> 01:08:54.690 align:start position:0% it doesn't have a lot of power so yeah so<01:08:52.210> just<01:08:52.600> be<01:08:52.750> passionate<01:08:53.410> as<01:08:53.799> how<01:08:53.950> so<01:08:54.310> a<01:08:54.549> lot 01:08:54.690 --> 01:08:54.700 align:start position:0% so just be passionate as how so a lot 01:08:54.700 --> 01:08:59.160 align:start position:0% so just be passionate as how so a lot will<01:08:54.910> never<01:08:55.180> obviously<01:08:57.060> so<01:08:58.060> it's<01:08:58.810> very<01:08:58.990> long 01:08:59.160 --> 01:08:59.170 align:start position:0% will never obviously so it's very long 01:08:59.170 --> 01:09:01.800 align:start position:0% will never obviously so it's very long time<01:08:59.470> what<01:09:00.370> it<01:09:00.430> is<01:09:00.549> but<01:09:00.790> basically<01:09:01.330> I'll<01:09:01.630> hear 01:09:01.800 --> 01:09:01.810 align:start position:0% time what it is but basically I'll hear 01:09:01.810 --> 01:09:04.230 align:start position:0% time what it is but basically I'll hear about<01:09:02.049> process<01:09:02.470> of<01:09:02.589> competitions<01:09:03.370> us<01:09:03.970> like 01:09:04.230 --> 01:09:04.240 align:start position:0% about process of competitions us like 01:09:04.240 --> 01:09:08.039 align:start position:0% about process of competitions us like guarantees<01:09:04.690> and<01:09:04.870> improve<01:09:05.589> state<01:09:05.859> not<01:09:06.220> he<01:09:06.490> was 01:09:08.039 --> 01:09:08.049 align:start position:0% guarantees and improve state not he was 01:09:08.049 --> 01:09:10.700 align:start position:0% guarantees and improve state not he was multistage<01:09:08.770> on<01:09:09.490> shade<01:09:09.730> covers<01:09:10.089> my<01:09:10.240> resident 01:09:10.700 --> 01:09:10.710 align:start position:0% multistage on shade covers my resident 01:09:10.710 --> 01:09:14.820 align:start position:0% multistage on shade covers my resident and<01:09:13.260> getting<01:09:14.260> a<01:09:14.290> said<01:09:14.440> it's<01:09:14.529> also<01:09:14.650> an 01:09:14.820 --> 01:09:14.830 align:start position:0% and getting a said it's also an 01:09:14.830 --> 01:09:16.769 align:start position:0% and getting a said it's also an architectural<01:09:15.279> thing<01:09:15.549> those<01:09:16.359> governance 01:09:16.769 --> 01:09:16.779 align:start position:0% architectural thing those governance 01:09:16.779 --> 01:09:18.000 align:start position:0% architectural thing those governance it's<01:09:16.930> actually<01:09:17.200> that's<01:09:17.319> a<01:09:17.410> metaphor<01:09:17.620> to<01:09:17.799> call 01:09:18.000 --> 01:09:18.010 align:start position:0% it's actually that's a metaphor to call 01:09:18.010 --> 01:09:21.960 align:start position:0% it's actually that's a metaphor to call it<01:09:18.910> can<01:09:19.089> technically<01:09:20.069> accentuated<01:09:21.130> Lakshmi's 01:09:21.960 --> 01:09:21.970 align:start position:0% it can technically accentuated Lakshmi's 01:09:21.970 --> 01:09:26.329 align:start position:0% it can technically accentuated Lakshmi's bird<01:09:22.210> calls<01:09:23.220> theoretically<01:09:24.480> but<01:09:25.480> basically 01:09:26.329 --> 01:09:26.339 align:start position:0% bird calls theoretically but basically 01:09:26.339 --> 01:09:29.250 align:start position:0% bird calls theoretically but basically it<01:09:27.339> tells<01:09:27.490> us<01:09:27.670> you<01:09:27.970> know<01:09:28.120> the<01:09:28.390> underlying<01:09:28.930> you 01:09:29.250 --> 01:09:29.260 align:start position:0% it tells us you know the underlying you 01:09:29.260 --> 01:09:31.559 align:start position:0% it tells us you know the underlying you know<01:09:29.380> the<01:09:29.560> way<01:09:29.650> that<01:09:29.920> Bostick<01:09:30.400> rated<01:09:30.700> and<01:09:31.000> you 01:09:31.559 --> 01:09:31.569 align:start position:0% know the way that Bostick rated and you 01:09:31.569 --> 01:09:34.680 align:start position:0% know the way that Bostick rated and you know<01:09:31.980> consensus<01:09:33.180> through<01:09:34.180> this<01:09:34.390> notion<01:09:34.540> of 01:09:34.680 --> 01:09:34.690 align:start position:0% know consensus through this notion of 01:09:34.690 --> 01:09:36.750 align:start position:0% know consensus through this notion of baking<01:09:35.080> and<01:09:35.200> little<01:09:35.529> bit<01:09:35.650> mistake<01:09:35.950> so<01:09:36.250> you 01:09:36.750 --> 01:09:36.760 align:start position:0% baking and little bit mistake so you 01:09:36.760 --> 01:09:39.150 align:start position:0% baking and little bit mistake so you have<01:09:36.940> basically<01:09:37.510> the<01:09:37.810> mentorship<01:09:38.170> of<01:09:38.710> Baker's 01:09:39.150 --> 01:09:39.160 align:start position:0% have basically the mentorship of Baker's 01:09:39.160 --> 01:09:42.660 align:start position:0% have basically the mentorship of Baker's joining<01:09:39.850> pesos<01:09:40.210> the<01:09:41.080> first<01:09:41.319> year<01:09:41.670> obviously 01:09:42.660 --> 01:09:42.670 align:start position:0% joining pesos the first year obviously 01:09:42.670 --> 01:09:44.579 align:start position:0% joining pesos the first year obviously there's<01:09:43.060> a<01:09:43.150> big<01:09:43.330> increase<01:09:43.569> in<01:09:43.690> the<01:09:43.870> first<01:09:44.470> few 01:09:44.579 --> 01:09:44.589 align:start position:0% there's a big increase in the first few 01:09:44.589 --> 01:09:47.430 align:start position:0% there's a big increase in the first few months<01:09:44.740> and<01:09:44.980> that<01:09:45.040> sort<01:09:45.310> of<01:09:45.370> a<01:09:45.490> study<01:09:46.440> enough 01:09:47.430 --> 01:09:47.440 align:start position:0% months and that sort of a study enough 01:09:47.440 --> 01:09:51.000 align:start position:0% months and that sort of a study enough it's<01:09:48.190> not<01:09:48.460> as<01:09:48.880> delegation<01:09:49.600> so<01:09:50.200> people<01:09:50.589> can<01:09:50.740> you 01:09:51.000 --> 01:09:51.010 align:start position:0% it's not as delegation so people can you 01:09:51.010 --> 01:09:53.160 align:start position:0% it's not as delegation so people can you know<01:09:51.100> move<01:09:51.250> their<01:09:51.460> stake<01:09:51.810> designers<01:09:52.810> take<01:09:52.960> to 01:09:53.160 --> 01:09:53.170 align:start position:0% know move their stake designers take to 01:09:53.170 --> 01:09:55.170 align:start position:0% know move their stake designers take to you<01:09:53.980> know<01:09:54.100> these<01:09:54.220> various<01:09:54.670> speakers<01:09:54.850> around 01:09:55.170 --> 01:09:55.180 align:start position:0% you know these various speakers around 01:09:55.180 --> 01:09:57.510 align:start position:0% you know these various speakers around the<01:09:55.240> world<01:09:55.480> but<01:09:55.660> it's<01:09:56.110> not<01:09:56.170> depots<01:09:56.680> in<01:09:57.400> the 01:09:57.510 --> 01:09:57.520 align:start position:0% the world but it's not depots in the 01:09:57.520 --> 01:09:59.670 align:start position:0% the world but it's not depots in the notion<01:09:57.700> of<01:09:57.970> another<01:09:58.420> way<01:09:58.570> of<01:09:58.720> do<01:09:59.020> a<01:09:59.080> search<01:09:59.410> on 01:09:59.670 --> 01:09:59.680 align:start position:0% notion of another way of do a search on 01:09:59.680 --> 01:10:01.860 align:start position:0% notion of another way of do a search on or<01:09:59.980> listen<01:10:00.310> anything<01:10:00.520> like<01:10:00.700> that<01:10:00.760> I<01:10:01.120> fell 01:10:01.860 --> 01:10:01.870 align:start position:0% or listen anything like that I fell 01:10:01.870 --> 01:10:04.590 align:start position:0% or listen anything like that I fell obviously<01:10:02.260> funded<01:10:02.560> by<01:10:02.740> that<01:10:03.070> point<01:10:03.600> of 01:10:04.590 --> 01:10:04.600 align:start position:0% obviously funded by that point of 01:10:04.600 --> 01:10:08.640 align:start position:0% obviously funded by that point of inflation<01:10:05.490> appreciates<01:10:06.490> that<01:10:07.350> and<01:10:08.350> so<01:10:08.500> then 01:10:08.640 --> 01:10:08.650 align:start position:0% inflation appreciates that and so then 01:10:08.650 --> 01:10:10.650 align:start position:0% inflation appreciates that and so then those<01:10:09.190> make<01:10:09.370> it<01:10:09.490> uses<01:10:09.760> in<01:10:09.970> practice<01:10:10.420> it<01:10:10.570> is 01:10:10.650 --> 01:10:10.660 align:start position:0% those make it uses in practice it is 01:10:10.660 --> 01:10:13.560 align:start position:0% those make it uses in practice it is actually<01:10:11.050> officially<01:10:11.620> almost<01:10:12.010> 500<01:10:12.570> elevators 01:10:13.560 --> 01:10:13.570 align:start position:0% actually officially almost 500 elevators 01:10:13.570 --> 01:10:15.750 align:start position:0% actually officially almost 500 elevators and<01:10:13.780> all<01:10:13.930> 35<01:10:14.800> countries<01:10:15.040> at<01:10:15.430> least<01:10:15.460> that's 01:10:15.750 --> 01:10:15.760 align:start position:0% and all 35 countries at least that's 01:10:15.760 --> 01:10:18.180 align:start position:0% and all 35 countries at least that's what<01:10:16.060> we<01:10:16.150> know<01:10:16.270> publicly<01:10:16.780> you<01:10:17.020> know<01:10:17.110> a<01:10:17.740> leaders 01:10:18.180 --> 01:10:18.190 align:start position:0% what we know publicly you know a leaders 01:10:18.190 --> 01:10:20.550 align:start position:0% what we know publicly you know a leaders stay<01:10:18.850> where<01:10:19.090> they<01:10:19.240> are<01:10:19.330> what<01:10:19.630> they're<01:10:19.660> you 01:10:20.550 --> 01:10:20.560 align:start position:0% stay where they are what they're you 01:10:20.560 --> 01:10:22.200 align:start position:0% stay where they are what they're you know<01:10:20.620> what<01:10:20.680> they're<01:10:20.950> what<01:10:21.070> they're<01:10:21.130> doing<01:10:21.460> and 01:10:22.200 --> 01:10:22.210 align:start position:0% know what they're what they're doing and 01:10:22.210 --> 01:10:24.210 align:start position:0% know what they're what they're doing and so<01:10:22.420> you<01:10:22.720> have<01:10:22.870> to<01:10:23.020> sort<01:10:23.230> of<01:10:23.350> the<01:10:23.740> participants 01:10:24.210 --> 01:10:24.220 align:start position:0% so you have to sort of the participants 01:10:24.220 --> 01:10:25.830 align:start position:0% so you have to sort of the participants in<01:10:24.280> this<01:10:24.340> government<01:10:24.550> system<01:10:24.970> are<01:10:25.120> basically 01:10:25.830 --> 01:10:25.840 align:start position:0% in this government system are basically 01:10:25.840 --> 01:10:27.540 align:start position:0% in this government system are basically across<01:10:26.260> many<01:10:26.500> different 01:10:27.540 --> 01:10:27.550 align:start position:0% across many different 01:10:27.550 --> 01:10:28.830 align:start position:0% across many different there<01:10:27.699> is<01:10:27.790> additional<01:10:27.909> folks<01:10:28.360> running<01:10:28.540> really 01:10:28.830 --> 01:10:28.840 align:start position:0% there is additional folks running really 01:10:28.840 --> 01:10:30.930 align:start position:0% there is additional folks running really complex<01:10:29.260> you<01:10:29.949> know<01:10:30.010> copy<01:10:30.309> setups<01:10:30.790> there's 01:10:30.930 --> 01:10:30.940 align:start position:0% complex you know copy setups there's 01:10:30.940 --> 01:10:33.390 align:start position:0% complex you know copy setups there's books<01:10:31.179> on<01:10:31.300> Raspberry<01:10:31.719> Pi<01:10:31.800> there's<01:10:32.800> folks<01:10:33.070> just 01:10:33.390 --> 01:10:33.400 align:start position:0% books on Raspberry Pi there's folks just 01:10:33.400 --> 01:10:34.859 align:start position:0% books on Raspberry Pi there's folks just with<01:10:33.550> ledger<01:10:33.760> and<01:10:33.940> dresser<01:10:34.210> you<01:10:34.690> know<01:10:34.780> in 01:10:34.859 --> 01:10:34.869 align:start position:0% with ledger and dresser you know in 01:10:34.869 --> 01:10:37.620 align:start position:0% with ledger and dresser you know in there<01:10:35.020> in<01:10:35.230> threes<01:10:35.469> men<01:10:35.710> and<01:10:36.550> there's<01:10:36.849> 110<01:10:37.480> of 01:10:37.620 --> 01:10:37.630 align:start position:0% there in threes men and there's 110 of 01:10:37.630 --> 01:10:40.709 align:start position:0% there in threes men and there's 110 of these<01:10:37.750> public<01:10:38.050> delegates<01:10:38.760> you<01:10:39.760> know<01:10:39.849> of<01:10:40.510> these 01:10:40.709 --> 01:10:40.719 align:start position:0% these public delegates you know of these 01:10:40.719 --> 01:10:43.140 align:start position:0% these public delegates you know of these four<01:10:40.989> so<01:10:41.079> they<01:10:41.230> go<01:10:41.349> for<01:10:41.590> 450<01:10:42.400> to<01:10:42.460> 500<01:10:42.940> as<01:10:43.030> it 01:10:43.140 --> 01:10:43.150 align:start position:0% four so they go for 450 to 500 as it 01:10:43.150 --> 01:10:45.629 align:start position:0% four so they go for 450 to 500 as it varies<01:10:43.270> very<01:10:43.420> big<01:10:44.050> town<01:10:44.199> of<01:10:44.380> the<01:10:44.500> Republic<01:10:45.250> and 01:10:45.629 --> 01:10:45.639 align:start position:0% varies very big town of the Republic and 01:10:45.639 --> 01:10:48.510 align:start position:0% varies very big town of the Republic and vote<01:10:46.239> on<01:10:46.270> other<01:10:46.480> people's<01:10:46.809> behalf<01:10:47.409> and<01:10:48.340> then 01:10:48.510 --> 01:10:48.520 align:start position:0% vote on other people's behalf and then 01:10:48.520 --> 01:10:50.970 align:start position:0% vote on other people's behalf and then you<01:10:48.610> have<01:10:48.790> about<01:10:49.409> percentage<01:10:50.409> of<01:10:50.559> the<01:10:50.739> nura 01:10:50.970 --> 01:10:50.980 align:start position:0% you have about percentage of the nura 01:10:50.980 --> 01:10:52.830 align:start position:0% you have about percentage of the nura that's<01:10:51.250> involved<01:10:51.579> in<01:10:51.790> this<01:10:52.210> process<01:10:52.480> about 01:10:52.830 --> 01:10:52.840 align:start position:0% that's involved in this process about 01:10:52.840 --> 01:10:55.439 align:start position:0% that's involved in this process about 71%<01:10:53.409> of<01:10:53.739> the<01:10:53.920> Joel<01:10:54.340> supply<01:10:54.639> I<01:10:55.000> think<01:10:55.360> it's 01:10:55.439 --> 01:10:55.449 align:start position:0% 71% of the Joel supply I think it's 01:10:55.449 --> 01:10:58.680 align:start position:0% 71% of the Joel supply I think it's about<01:10:55.570> 80%<01:10:56.199> of<01:10:56.260> their<01:10:56.469> activity<01:10:57.030> and<01:10:58.030> so<01:10:58.540> then 01:10:58.680 --> 01:10:58.690 align:start position:0% about 80% of their activity and so then 01:10:58.690 --> 01:11:00.209 align:start position:0% about 80% of their activity and so then what's<01:10:59.020> the<01:10:59.110> actual<01:10:59.380> process<01:10:59.739> so<01:10:59.920> it<01:11:00.040> looks 01:11:00.209 --> 01:11:00.219 align:start position:0% what's the actual process so it looks 01:11:00.219 --> 01:11:02.339 align:start position:0% what's the actual process so it looks you<01:11:00.429> know<01:11:00.520> very<01:11:00.790> you<01:11:01.449> know<01:11:01.480> complex<01:11:01.929> but<01:11:02.199> it's 01:11:02.339 --> 01:11:02.349 align:start position:0% you know very you know complex but it's 01:11:02.349 --> 01:11:04.080 align:start position:0% you know very you know complex but it's actually<01:11:02.679> much<01:11:03.159> simpler<01:11:03.489> than<01:11:03.610> that<01:11:03.670> it's<01:11:03.969> a 01:11:04.080 --> 01:11:04.090 align:start position:0% actually much simpler than that it's a 01:11:04.090 --> 01:11:06.419 align:start position:0% actually much simpler than that it's a basic<01:11:04.630> Rises<01:11:05.440> for<01:11:05.619> periods<01:11:05.980> and<01:11:06.099> someone<01:11:06.340> this 01:11:06.419 --> 01:11:06.429 align:start position:0% basic Rises for periods and someone this 01:11:06.429 --> 01:11:08.609 align:start position:0% basic Rises for periods and someone this is<01:11:06.579> changing<01:11:07.000> potentially<01:11:07.840> in<01:11:07.900> a<01:11:07.960> week<01:11:08.110> if<01:11:08.380> we 01:11:08.609 --> 01:11:08.619 align:start position:0% is changing potentially in a week if we 01:11:08.619 --> 01:11:12.149 align:start position:0% is changing potentially in a week if we activate<01:11:09.130> a<01:11:09.309> new<01:11:09.489> upgrade<01:11:10.300> but<01:11:11.290> basically<01:11:11.710> it 01:11:12.149 --> 01:11:12.159 align:start position:0% activate a new upgrade but basically it 01:11:12.159 --> 01:11:13.709 align:start position:0% activate a new upgrade but basically it involves<01:11:12.730> it<01:11:12.969> starts<01:11:13.239> with<01:11:13.329> this<01:11:13.420> proposal 01:11:13.709 --> 01:11:13.719 align:start position:0% involves it starts with this proposal 01:11:13.719 --> 01:11:16.649 align:start position:0% involves it starts with this proposal period<01:11:14.199> each<01:11:15.190> of<01:11:15.369> each<01:11:15.790> of<01:11:15.969> these<01:11:16.030> mercury<01:11:16.420> is 01:11:16.649 --> 01:11:16.659 align:start position:0% period each of each of these mercury is 01:11:16.659 --> 01:11:19.620 align:start position:0% period each of each of these mercury is a<01:11:16.809> months<01:11:17.050> for<01:11:17.290> about<01:11:17.940> 23<01:11:18.940> days<01:11:19.300> I<01:11:19.510> think 01:11:19.620 --> 01:11:19.630 align:start position:0% a months for about 23 days I think 01:11:19.630 --> 01:11:23.669 align:start position:0% a months for about 23 days I think basically<01:11:20.699> 20<01:11:21.699> and<01:11:22.059> the<01:11:22.719> proposal<01:11:23.079> period<01:11:23.409> is 01:11:23.669 --> 01:11:23.679 align:start position:0% basically 20 and the proposal period is 01:11:23.679 --> 01:11:25.049 align:start position:0% basically 20 and the proposal period is this<01:11:23.860> period<01:11:24.099> where<01:11:24.280> basically<01:11:24.610> cannot<01:11:24.909> put 01:11:25.049 --> 01:11:25.059 align:start position:0% this period where basically cannot put 01:11:25.059 --> 01:11:26.549 align:start position:0% this period where basically cannot put as<01:11:25.150> many<01:11:25.210> people<01:11:25.540> succeed<01:11:25.840> like<01:11:25.989> I<01:11:26.260> think 01:11:26.549 --> 01:11:26.559 align:start position:0% as many people succeed like I think 01:11:26.559 --> 01:11:28.290 align:start position:0% as many people succeed like I think agent<01:11:27.010> I'll<01:11:27.070> go<01:11:27.219> into<01:11:27.520> some<01:11:27.550> of<01:11:27.940> the<01:11:28.000> similar 01:11:28.290 --> 01:11:28.300 align:start position:0% agent I'll go into some of the similar 01:11:28.300 --> 01:11:30.120 align:start position:0% agent I'll go into some of the similar detail<01:11:28.630> in<01:11:28.690> the<01:11:28.750> next<01:11:28.960> talk<01:11:29.590> but<01:11:29.829> basically 01:11:30.120 --> 01:11:30.130 align:start position:0% detail in the next talk but basically 01:11:30.130 --> 01:11:32.160 align:start position:0% detail in the next talk but basically you<01:11:30.760> have<01:11:30.880> this<01:11:31.000> core<01:11:31.210> face<01:11:31.420> period<01:11:32.020> it's<01:11:32.110> a 01:11:32.160 --> 01:11:32.170 align:start position:0% you have this core face period it's a 01:11:32.170 --> 01:11:33.839 align:start position:0% you have this core face period it's a very<01:11:32.380> conserved<01:11:32.800> on<01:11:33.010> like<01:11:33.190> this<01:11:33.369> or<01:11:33.730> the 01:11:33.839 --> 01:11:33.849 align:start position:0% very conserved on like this or the 01:11:33.849 --> 01:11:35.640 align:start position:0% very conserved on like this or the polkadot<01:11:34.179> model<01:11:34.480> it's<01:11:35.170> a<01:11:35.260> very<01:11:35.469> very 01:11:35.640 --> 01:11:35.650 align:start position:0% polkadot model it's a very very 01:11:35.650 --> 01:11:37.799 align:start position:0% polkadot model it's a very very conservative<01:11:36.270> sort<01:11:37.270> of<01:11:37.389> a<01:11:37.480> governance 01:11:37.799 --> 01:11:37.809 align:start position:0% conservative sort of a governance 01:11:37.809 --> 01:11:39.780 align:start position:0% conservative sort of a governance process<01:11:38.199> by<01:11:38.409> which<01:11:38.530> easily<01:11:39.219> have<01:11:39.429> to<01:11:39.550> hit<01:11:39.670> this 01:11:39.780 --> 01:11:39.790 align:start position:0% process by which easily have to hit this 01:11:39.790 --> 01:11:42.689 align:start position:0% process by which easily have to hit this this<01:11:40.389> quorum<01:11:40.809> you<01:11:41.320> know<01:11:41.440> very<01:11:41.710> very<01:11:41.949> high<01:11:42.130> bar 01:11:42.689 --> 01:11:42.699 align:start position:0% this quorum you know very very high bar 01:11:42.699 --> 01:11:45.330 align:start position:0% this quorum you know very very high bar of<01:11:43.090> consensus<01:11:43.840> it<01:11:43.989> started<01:11:44.320> about<01:11:44.469> 80%<01:11:45.130> and 01:11:45.330 --> 01:11:45.340 align:start position:0% of consensus it started about 80% and 01:11:45.340 --> 01:11:47.280 align:start position:0% of consensus it started about 80% and some<01:11:45.849> of<01:11:45.940> the<01:11:46.150> original<01:11:46.300> Athens<01:11:46.900> votes 01:11:47.280 --> 01:11:47.290 align:start position:0% some of the original Athens votes 01:11:47.290 --> 01:11:49.209 align:start position:0% some of the original Athens votes it<01:11:47.440> was<01:11:47.619> as<01:11:47.980> high<01:11:48.159> as<01:11:48.190> I<01:11:48.730> think 01:11:49.209 --> 01:11:49.219 align:start position:0% it was as high as I think 01:11:49.219 --> 01:11:51.430 align:start position:0% it was as high as I think 2%<01:11:49.610> to<01:11:49.849> the<01:11:49.940> quorum<01:11:50.269> I<01:11:50.479> mean<01:11:50.869> we<01:11:50.960> talk<01:11:51.199> I<01:11:51.320> had 01:11:51.430 --> 01:11:51.440 align:start position:0% 2% to the quorum I mean we talk I had 01:11:51.440 --> 01:11:54.339 align:start position:0% 2% to the quorum I mean we talk I had about<01:11:51.639> essential<01:11:52.639> estate<01:11:52.909> is<01:11:53.090> about<01:11:53.179> 86<01:11:53.989> or<01:11:54.289> 87 01:11:54.339 --> 01:11:54.349 align:start position:0% about essential estate is about 86 or 87 01:11:54.349 --> 01:11:57.009 align:start position:0% about essential estate is about 86 or 87 percent<01:11:54.979> above<01:11:55.309> the<01:11:55.340> stake<01:11:55.610> actually<01:11:56.059> voted 01:11:57.009 --> 01:11:57.019 align:start position:0% percent above the stake actually voted 01:11:57.019 --> 01:11:59.379 align:start position:0% percent above the stake actually voted or<01:11:57.199> participated<01:11:57.829> in<01:11:58.130> the<01:11:58.219> vote<01:11:58.269> basically<01:11:59.269> on 01:11:59.379 --> 01:11:59.389 align:start position:0% or participated in the vote basically on 01:11:59.389 --> 01:12:01.149 align:start position:0% or participated in the vote basically on this<01:11:59.479> proposal<01:11:59.749> period<01:12:00.110> even<01:12:00.320> have<01:12:00.530> a<01:12:00.679> yes/no 01:12:01.149 --> 01:12:01.159 align:start position:0% this proposal period even have a yes/no 01:12:01.159 --> 01:12:03.939 align:start position:0% this proposal period even have a yes/no maybe<01:12:01.519> both<01:12:02.110> yes<01:12:03.110> them<01:12:03.349> over<01:12:03.499> passed<01:12:03.710> but 01:12:03.939 --> 01:12:03.949 align:start position:0% maybe both yes them over passed but 01:12:03.949 --> 01:12:06.310 align:start position:0% maybe both yes them over passed but really<01:12:04.219> in<01:12:04.670> the<01:12:04.820> second<01:12:05.119> period<01:12:05.320> testing 01:12:06.310 --> 01:12:06.320 align:start position:0% really in the second period testing 01:12:06.320 --> 01:12:07.600 align:start position:0% really in the second period testing period<01:12:06.710> which<01:12:06.920> you're<01:12:07.070> not<01:12:07.190> going<01:12:07.369> to<01:12:07.460> get 01:12:07.600 --> 01:12:07.610 align:start position:0% period which you're not going to get 01:12:07.610 --> 01:12:11.649 align:start position:0% period which you're not going to get into<01:12:09.099> another<01:12:10.099> yes<01:12:10.400> no<01:12:10.610> or<01:12:10.639> maybe<01:12:11.119> a<01:12:11.269> state 01:12:11.649 --> 01:12:11.659 align:start position:0% into another yes no or maybe a state 01:12:11.659 --> 01:12:13.629 align:start position:0% into another yes no or maybe a state confirming<01:12:12.170> that<01:12:12.469> a<01:12:12.889> protocol<01:12:13.309> in<01:12:13.550> our 01:12:13.629 --> 01:12:13.639 align:start position:0% confirming that a protocol in our 01:12:13.639 --> 01:12:15.759 align:start position:0% confirming that a protocol in our proposal<01:12:13.969> should<01:12:14.239> make<01:12:14.869> it<01:12:15.019> to<01:12:15.199> become<01:12:15.559> the 01:12:15.759 --> 01:12:15.769 align:start position:0% proposal should make it to become the 01:12:15.769 --> 01:12:19.660 align:start position:0% proposal should make it to become the new<01:12:16.099> protocol<01:12:17.619> and<01:12:18.619> set<01:12:18.829> aside<01:12:18.949> about<01:12:19.369> three 01:12:19.660 --> 01:12:19.670 align:start position:0% new protocol and set aside about three 01:12:19.670 --> 01:12:20.560 align:start position:0% new protocol and set aside about three months<01:12:19.789> to<01:12:20.059> complete 01:12:20.560 --> 01:12:20.570 align:start position:0% months to complete 01:12:20.570 --> 01:12:21.969 align:start position:0% months to complete so<01:12:20.719> going<01:12:20.869> back<01:12:20.960> to<01:12:21.079> you<01:12:21.260> know<01:12:21.349> such<01:12:21.619> earlier 01:12:21.969 --> 01:12:21.979 align:start position:0% so going back to you know such earlier 01:12:21.979 --> 01:12:23.939 align:start position:0% so going back to you know such earlier so<01:12:22.219> what<01:12:22.579> was<01:12:22.670> a<01:12:22.789> sentence<01:12:23.449> was<01:12:23.570> our<01:12:23.690> first 01:12:23.939 --> 01:12:23.949 align:start position:0% so what was a sentence was our first 01:12:23.949 --> 01:12:26.770 align:start position:0% so what was a sentence was our first proposal<01:12:24.949> I<01:12:25.369> went<01:12:25.639> from<01:12:25.789> at<01:12:26.329> the<01:12:26.449> end<01:12:26.599> of 01:12:26.770 --> 01:12:26.780 align:start position:0% proposal I went from at the end of 01:12:26.780 --> 01:12:29.560 align:start position:0% proposal I went from at the end of February<01:12:27.380> to<01:12:27.530> the<01:12:27.619> end<01:12:27.739> of<01:12:28.039> May<01:12:28.610> it<01:12:29.420> was 01:12:29.560 --> 01:12:29.570 align:start position:0% February to the end of May it was 01:12:29.570 --> 01:12:31.629 align:start position:0% February to the end of May it was basically<01:12:30.050> just<01:12:30.170> voting<01:12:30.679> on<01:12:30.800> changes<01:12:31.489> to 01:12:31.629 --> 01:12:31.639 align:start position:0% basically just voting on changes to 01:12:31.639 --> 01:12:34.029 align:start position:0% basically just voting on changes to constants<01:12:32.239> so<01:12:32.449> it<01:12:32.510> was<01:12:32.719> just<01:12:33.260> changing<01:12:33.889> in 01:12:34.029 --> 01:12:34.039 align:start position:0% constants so it was just changing in 01:12:34.039 --> 01:12:35.799 align:start position:0% constants so it was just changing in both<01:12:34.190> sides<01:12:34.460> which<01:12:34.639> is<01:12:34.760> just<01:12:34.999> the<01:12:35.179> either<01:12:35.659> them 01:12:35.799 --> 01:12:35.809 align:start position:0% both sides which is just the either them 01:12:35.809 --> 01:12:37.629 align:start position:0% both sides which is just the either them account<01:12:36.079> for<01:12:36.320> previous<01:12:36.590> statement<01:12:37.099> SS<01:12:37.429> that<01:12:37.550> I 01:12:37.629 --> 01:12:37.639 align:start position:0% account for previous statement SS that I 01:12:37.639 --> 01:12:39.129 align:start position:0% account for previous statement SS that I have<01:12:37.849> mentioned<01:12:38.090> earlier<01:12:38.329> and<01:12:39.019> it<01:12:39.110> was 01:12:39.129 --> 01:12:39.139 align:start position:0% have mentioned earlier and it was 01:12:39.139 --> 01:12:39.910 align:start position:0% have mentioned earlier and it was doubling 01:12:39.910 --> 01:12:39.920 align:start position:0% doubling 01:12:39.920 --> 01:12:42.669 align:start position:0% doubling you<01:12:40.249> know<01:12:40.340> basically<01:12:41.090> Oh<01:12:41.510> Paul<01:12:42.260> doubling<01:12:42.590> the 01:12:42.669 --> 01:12:42.679 align:start position:0% you know basically Oh Paul doubling the 01:12:42.679 --> 01:12:46.089 align:start position:0% you know basically Oh Paul doubling the Gosselin<01:12:42.979> poseable<01:12:43.489> not<01:12:44.449> that<01:12:44.860> basically<01:12:45.860> the 01:12:46.089 --> 01:12:46.099 align:start position:0% Gosselin poseable not that basically the 01:12:46.099 --> 01:12:48.189 align:start position:0% Gosselin poseable not that basically the participation<01:12:46.489> as<01:12:46.699> mentioned<01:12:47.030> earlier<01:12:47.199> 87% 01:12:48.189 --> 01:12:48.199 align:start position:0% participation as mentioned earlier 87% 01:12:48.199 --> 01:12:50.950 align:start position:0% participation as mentioned earlier 87% of<01:12:48.499> stake<01:12:48.739> in<01:12:48.979> the<01:12:49.099> expiration<01:12:49.460> vote<01:12:49.789> about<01:12:50.539> 84 01:12:50.950 --> 01:12:50.960 align:start position:0% of stake in the expiration vote about 84 01:12:50.960 --> 01:12:52.270 align:start position:0% of stake in the expiration vote about 84 percent<01:12:50.989> a<01:12:51.320> stake<01:12:51.530> in<01:12:51.679> the<01:12:51.800> promotion<01:12:52.249> code 01:12:52.270 --> 01:12:52.280 align:start position:0% percent a stake in the promotion code 01:12:52.280 --> 01:12:54.549 align:start position:0% percent a stake in the promotion code and<01:12:53.090> the<01:12:53.210> reason<01:12:53.539> is<01:12:53.989> so<01:12:54.139> high<01:12:54.320> is<01:12:54.380> because 01:12:54.549 --> 01:12:54.559 align:start position:0% and the reason is so high is because 01:12:54.559 --> 01:12:57.040 align:start position:0% and the reason is so high is because bakers<01:12:55.249> are<01:12:55.460> mediating<01:12:56.239> beginning<01:12:56.659> to<01:12:56.869> votes 01:12:57.040 --> 01:12:57.050 align:start position:0% bakers are mediating beginning to votes 01:12:57.050 --> 01:12:59.979 align:start position:0% bakers are mediating beginning to votes for<01:12:57.889> for<01:12:58.159> folks<01:12:58.340> there's<01:12:59.239> not<01:12:59.389> as<01:12:59.539> a<01:12:59.570> required 01:12:59.979 --> 01:12:59.989 align:start position:0% for for folks there's not as a required 01:12:59.989 --> 01:13:02.169 align:start position:0% for for folks there's not as a required every<01:13:00.199> single<01:13:00.469> person<01:13:00.800> holding<01:13:01.610> a<01:13:01.670> token<01:13:01.999> to 01:13:02.169 --> 01:13:02.179 align:start position:0% every single person holding a token to 01:13:02.179 --> 01:13:06.459 align:start position:0% every single person holding a token to participate<01:13:02.929> in<01:13:03.800> this<01:13:05.050> it's<01:13:06.050> mostly<01:13:06.289> symbolic 01:13:06.459 --> 01:13:06.469 align:start position:0% participate in this it's mostly symbolic 01:13:06.469 --> 01:13:08.229 align:start position:0% participate in this it's mostly symbolic so<01:13:06.949> there's<01:13:07.130> just<01:13:07.219> a<01:13:07.369> little<01:13:07.489> you<01:13:08.090> know<01:13:08.150> we 01:13:08.229 --> 01:13:08.239 align:start position:0% so there's just a little you know we 01:13:08.239 --> 01:13:09.370 align:start position:0% so there's just a little you know we have<01:13:08.389> the<01:13:08.479> significant<01:13:08.929> inflationary 01:13:09.370 --> 01:13:09.380 align:start position:0% have the significant inflationary 01:13:09.380 --> 01:13:11.020 align:start position:0% have the significant inflationary invoices<01:13:09.889> well<01:13:10.099> I<01:13:10.340> won't<01:13:10.489> go<01:13:10.579> into<01:13:10.729> that<01:13:10.820> right 01:13:11.020 --> 01:13:11.030 align:start position:0% invoices well I won't go into that right 01:13:11.030 --> 01:13:12.819 align:start position:0% invoices well I won't go into that right now<01:13:11.090> but<01:13:11.389> as<01:13:11.929> mostly<01:13:12.170> symbolic<01:13:12.349> just<01:13:12.710> about 01:13:12.819 --> 01:13:12.829 align:start position:0% now but as mostly symbolic just about 01:13:12.829 --> 01:13:14.080 align:start position:0% now but as mostly symbolic just about 100<01:13:13.159> xdc 01:13:14.080 --> 01:13:14.090 align:start position:0% 100 xdc 01:13:14.090 --> 01:13:16.419 align:start position:0% 100 xdc reward<01:13:14.809> and<01:13:15.139> it<01:13:15.349> was<01:13:15.440> really<01:13:15.590> just<01:13:16.159> changing 01:13:16.419 --> 01:13:16.429 align:start position:0% reward and it was really just changing 01:13:16.429 --> 01:13:19.839 align:start position:0% reward and it was really just changing some<01:13:16.579> constants<01:13:17.119> and<01:13:18.070> why<01:13:19.070> only<01:13:19.280> one<01:13:19.489> team<01:13:19.639> was 01:13:19.839 --> 01:13:19.849 align:start position:0% some constants and why only one team was 01:13:19.849 --> 01:13:22.270 align:start position:0% some constants and why only one team was really<01:13:20.119> involved<01:13:20.780> in<01:13:21.079> the<01:13:21.380> you<01:13:22.070> know<01:13:22.159> in<01:13:22.219> the 01:13:22.270 --> 01:13:22.280 align:start position:0% really involved in the you know in the 01:13:22.280 --> 01:13:22.800 align:start position:0% really involved in the you know in the creation 01:13:22.800 --> 01:13:22.810 align:start position:0% creation 01:13:22.810 --> 01:13:26.070 align:start position:0% creation the<01:13:22.990> Furcal<01:13:23.380> tournament<01:13:23.770> and<01:13:24.040> but<01:13:24.990> you<01:13:25.990> know 01:13:26.070 --> 01:13:26.080 align:start position:0% the Furcal tournament and but you know 01:13:26.080 --> 01:13:28.440 align:start position:0% the Furcal tournament and but you know obviously<01:13:26.320> pretty<01:13:26.880> landmark<01:13:27.880> about<01:13:28.180> this<01:13:28.330> is 01:13:28.440 --> 01:13:28.450 align:start position:0% obviously pretty landmark about this is 01:13:28.450 --> 01:13:30.300 align:start position:0% obviously pretty landmark about this is that<01:13:28.570> it<01:13:28.690> involved<01:13:28.960> coordination<01:13:29.890> etc 01:13:30.300 --> 01:13:30.310 align:start position:0% that it involved coordination etc 01:13:30.310 --> 01:13:34.860 align:start position:0% that it involved coordination etc communes<01:13:30.640> own<01:13:30.810> circle<01:13:32.010> 35<01:13:33.010> countries<01:13:33.870> and 01:13:34.860 --> 01:13:34.870 align:start position:0% communes own circle 35 countries and 01:13:34.870 --> 01:13:39.300 align:start position:0% communes own circle 35 countries and about<01:13:35.500> 200<01:13:35.950> meters<01:13:36.220> you<01:13:36.940> know<01:13:38.070> and<01:13:39.070> so<01:13:39.160> then 01:13:39.300 --> 01:13:39.310 align:start position:0% about 200 meters you know and so then 01:13:39.310 --> 01:13:41.370 align:start position:0% about 200 meters you know and so then the<01:13:39.610> newer<01:13:39.760> upgrades<01:13:40.150> are<01:13:40.450> in<01:13:40.810> a<01:13:40.900> new<01:13:41.110> upgrade 01:13:41.370 --> 01:13:41.380 align:start position:0% the newer upgrades are in a new upgrade 01:13:41.380 --> 01:13:43.680 align:start position:0% the newer upgrades are in a new upgrade network<01:13:41.680> we're<01:13:41.800> going<01:13:41.950> to<01:13:42.010> now<01:13:42.450> instead<01:13:43.450> some 01:13:43.680 --> 01:13:43.690 align:start position:0% network we're going to now instead some 01:13:43.690 --> 01:13:45.000 align:start position:0% network we're going to now instead some operating<01:13:44.050> just<01:13:44.260> like<01:13:44.410> change<01:13:44.650> our<01:13:44.830> no 01:13:45.000 --> 01:13:45.010 align:start position:0% operating just like change our no 01:13:45.010 --> 01:13:47.970 align:start position:0% operating just like change our no constants<01:13:45.460> you<01:13:46.060> know<01:13:46.180> to<01:13:47.080> actually<01:13:47.500> like 01:13:47.970 --> 01:13:47.980 align:start position:0% constants you know to actually like 01:13:47.980 --> 01:13:49.290 align:start position:0% constants you know to actually like constantly<01:13:48.400> the<01:13:48.490> notion<01:13:48.700> of<01:13:48.790> crossed<01:13:48.970> upgrade 01:13:49.290 --> 01:13:49.300 align:start position:0% constantly the notion of crossed upgrade 01:13:49.300 --> 01:13:51.210 align:start position:0% constantly the notion of crossed upgrade so<01:13:49.450> actually<01:13:49.780> hopefully<01:13:50.110> every<01:13:50.320> also<01:13:50.980> babies 01:13:51.210 --> 01:13:51.220 align:start position:0% so actually hopefully every also babies 01:13:51.220 --> 01:13:52.950 align:start position:0% so actually hopefully every also babies every<01:13:51.490> form<01:13:51.700> of<01:13:51.790> revised<01:13:52.240> every<01:13:52.570> six<01:13:52.750> months 01:13:52.950 --> 01:13:52.960 align:start position:0% every form of revised every six months 01:13:52.960 --> 01:13:54.690 align:start position:0% every form of revised every six months even<01:13:53.080> you<01:13:53.710> know<01:13:53.800> some<01:13:53.980> regular<01:13:54.220> cadence<01:13:54.370> of 01:13:54.690 --> 01:13:54.700 align:start position:0% even you know some regular cadence of 01:13:54.700 --> 01:13:57.510 align:start position:0% even you know some regular cadence of pretty<01:13:55.360> much<01:13:55.570> a<01:13:55.720> Nissan<01:13:56.170> feedback<01:13:56.950> and<01:13:57.250> a<01:13:57.310> new 01:13:57.510 --> 01:13:57.520 align:start position:0% pretty much a Nissan feedback and a new 01:13:57.520 --> 01:13:59.760 align:start position:0% pretty much a Nissan feedback and a new innovations<01:13:58.300> that<01:13:58.450> have<01:13:58.540> been<01:13:58.750> refined<01:13:59.620> in 01:13:59.760 --> 01:13:59.770 align:start position:0% innovations that have been refined in 01:13:59.770 --> 01:14:02.970 align:start position:0% innovations that have been refined in you<01:14:00.550> know<01:14:00.640> engineering<01:14:01.000> his<01:14:01.330> basic<01:14:02.080> engineers 01:14:02.970 --> 01:14:02.980 align:start position:0% you know engineering his basic engineers 01:14:02.980 --> 01:14:05.190 align:start position:0% you know engineering his basic engineers that<01:14:03.130> prepares<01:14:03.610> core<01:14:03.820> dev<01:14:03.970> team<01:14:04.150> so<01:14:04.390> can 01:14:05.190 --> 01:14:05.200 align:start position:0% that prepares core dev team so can 01:14:05.200 --> 01:14:08.310 align:start position:0% that prepares core dev team so can propose<01:14:05.500> to<01:14:05.860> the<01:14:06.190> stakeholders<01:14:06.780> also<01:14:07.780> there's 01:14:08.310 --> 01:14:08.320 align:start position:0% propose to the stakeholders also there's 01:14:08.320 --> 01:14:09.810 align:start position:0% propose to the stakeholders also there's the<01:14:08.470> vanity<01:14:08.800> fashion<01:14:09.160> because<01:14:09.250> the<01:14:09.490> original 01:14:09.810 --> 01:14:09.820 align:start position:0% the vanity fashion because the original 01:14:09.820 --> 01:14:11.760 align:start position:0% the vanity fashion because the original proposal<01:14:10.240> and<01:14:10.360> now<01:14:10.450> see<01:14:10.990> a<01:14:11.200> haven't 01:14:11.760 --> 01:14:11.770 align:start position:0% proposal and now see a haven't 01:14:11.770 --> 01:14:13.290 align:start position:0% proposal and now see a haven't unfortunately<01:14:12.220> had<01:14:12.310> an<01:14:12.460> issue<01:14:12.700> in<01:14:13.000> this<01:14:13.090> one 01:14:13.290 --> 01:14:13.300 align:start position:0% unfortunately had an issue in this one 01:14:13.300 --> 01:14:15.120 align:start position:0% unfortunately had an issue in this one so<01:14:13.540> we're<01:14:13.750> actually<01:14:14.410> been<01:14:14.710> voting<01:14:14.980> on<01:14:15.100> a 01:14:15.120 --> 01:14:15.130 align:start position:0% so we're actually been voting on a 01:14:15.130 --> 01:14:17.100 align:start position:0% so we're actually been voting on a slightly<01:14:15.430> different<01:14:15.610> one<01:14:15.880> another<01:14:16.660> another 01:14:17.100 --> 01:14:17.110 align:start position:0% slightly different one another another 01:14:17.110 --> 01:14:19.500 align:start position:0% slightly different one another another time<01:14:17.380> coach<01:14:18.370> all<01:14:18.610> these<01:14:18.850> each<01:14:19.000> other<01:14:19.210> supports 01:14:19.500 --> 01:14:19.510 align:start position:0% time coach all these each other supports 01:14:19.510 --> 01:14:21.570 align:start position:0% time coach all these each other supports in<01:14:19.630> there<01:14:19.810> but<01:14:20.650> basically<01:14:20.740> there<01:14:21.280> are<01:14:21.310> a<01:14:21.430> lot 01:14:21.570 --> 01:14:21.580 align:start position:0% in there but basically there are a lot 01:14:21.580 --> 01:14:23.640 align:start position:0% in there but basically there are a lot of<01:14:21.610> challenges<01:14:21.820> to<01:14:22.060> this<01:14:22.300> process<01:14:22.720> so<01:14:22.930> one<01:14:23.620> of 01:14:23.640 --> 01:14:23.650 align:start position:0% of challenges to this process so one of 01:14:23.650 --> 01:14:25.650 align:start position:0% of challenges to this process so one of them<01:14:23.860> is<01:14:23.890> that<01:14:24.220> you<01:14:24.550> know<01:14:24.820> one<01:14:25.240> with<01:14:25.480> you<01:14:25.600> know 01:14:25.650 --> 01:14:25.660 align:start position:0% them is that you know one with you know 01:14:25.660 --> 01:14:27.150 align:start position:0% them is that you know one with you know it's<01:14:25.870> very<01:14:25.990> decentralized<01:14:26.230> is<01:14:26.710> actually<01:14:27.100> you 01:14:27.150 --> 01:14:27.160 align:start position:0% it's very decentralized is actually you 01:14:27.160 --> 01:14:28.710 align:start position:0% it's very decentralized is actually you know<01:14:27.190> there's<01:14:27.400> actually<01:14:27.520> you<01:14:28.450> know<01:14:28.540> nearly 01:14:28.710 --> 01:14:28.720 align:start position:0% know there's actually you know nearly 01:14:28.720 --> 01:14:31.320 align:start position:0% know there's actually you know nearly 500<01:14:29.320> you<01:14:29.860> know<01:14:29.980> different<01:14:30.730> enemies<01:14:31.090> that<01:14:31.270> are 01:14:31.320 --> 01:14:31.330 align:start position:0% 500 you know different enemies that are 01:14:31.330 --> 01:14:33.210 align:start position:0% 500 you know different enemies that are all<01:14:31.660> around<01:14:31.900> the<01:14:31.960> world<01:14:32.160> participating<01:14:33.160> in 01:14:33.210 --> 01:14:33.220 align:start position:0% all around the world participating in 01:14:33.220 --> 01:14:35.640 align:start position:0% all around the world participating in this<01:14:33.340> and<01:14:33.910> there's<01:14:34.150> also<01:14:34.300> the<01:14:34.600> issue<01:14:34.630> sort<01:14:35.590> of 01:14:35.640 --> 01:14:35.650 align:start position:0% this and there's also the issue sort of 01:14:35.650 --> 01:14:38.250 align:start position:0% this and there's also the issue sort of some<01:14:35.830> some<01:14:36.370> minor<01:14:36.550> tires<01:14:36.940> fragmented<01:14:37.810> and 01:14:38.250 --> 01:14:38.260 align:start position:0% some some minor tires fragmented and 01:14:38.260 --> 01:14:40.290 align:start position:0% some some minor tires fragmented and that<01:14:38.470> we<01:14:38.590> we've<01:14:39.130> found<01:14:39.400> determine<01:14:39.940> doing<01:14:40.180> this 01:14:40.290 --> 01:14:40.300 align:start position:0% that we we've found determine doing this 01:14:40.300 --> 01:14:42.270 align:start position:0% that we we've found determine doing this in<01:14:40.480> the<01:14:40.570> wild<01:14:40.720> around<01:14:41.440> you<01:14:41.620> so<01:14:41.830> for<01:14:41.980> example 01:14:42.270 --> 01:14:42.280 align:start position:0% in the wild around you so for example 01:14:42.280 --> 01:14:43.980 align:start position:0% in the wild around you so for example what<01:14:42.370> happens<01:14:42.610> if<01:14:42.700> you<01:14:42.760> find<01:14:42.850> a<01:14:42.970> bug<01:14:43.120> you<01:14:43.930> know 01:14:43.980 --> 01:14:43.990 align:start position:0% what happens if you find a bug you know 01:14:43.990 --> 01:14:46.260 align:start position:0% what happens if you find a bug you know some<01:14:44.410> way<01:14:44.530> through<01:14:44.710> the<01:14:44.770> process<01:14:45.150> we've<01:14:46.150> been 01:14:46.260 --> 01:14:46.270 align:start position:0% some way through the process we've been 01:14:46.270 --> 01:14:48.880 align:start position:0% some way through the process we've been going<01:14:46.450> through<01:14:46.480> that<01:14:46.770> recently<01:14:47.770> and<01:14:48.400> they 01:14:48.880 --> 01:14:48.890 align:start position:0% going through that recently and they 01:14:48.890 --> 01:14:50.650 align:start position:0% going through that recently and they you<01:14:49.130> know<01:14:49.250> the<01:14:49.520> most<01:14:49.820> recent<01:14:49.910> case<01:14:50.270> we<01:14:50.420> start 01:14:50.650 --> 01:14:50.660 align:start position:0% you know the most recent case we start 01:14:50.660 --> 01:14:52.450 align:start position:0% you know the most recent case we start we<01:14:51.080> found<01:14:51.320> it<01:14:51.470> before<01:14:51.800> the<01:14:51.920> final<01:14:52.220> but<01:14:52.370> they 01:14:52.450 --> 01:14:52.460 align:start position:0% we found it before the final but they 01:14:52.460 --> 01:14:54.940 align:start position:0% we found it before the final but they know<01:14:52.580> called<01:14:52.790> confirmation<01:14:53.030> quote<01:14:53.540> but<01:14:54.500> in 01:14:54.940 --> 01:14:54.950 align:start position:0% know called confirmation quote but in 01:14:54.950 --> 01:14:56.410 align:start position:0% know called confirmation quote but in other<01:14:55.130> cases<01:14:55.340> you<01:14:55.580> could<01:14:55.790> imagine<01:14:56.030> this<01:14:56.240> being 01:14:56.410 --> 01:14:56.420 align:start position:0% other cases you could imagine this being 01:14:56.420 --> 01:15:01.780 align:start position:0% other cases you could imagine this being having<01:14:57.290> been<01:14:57.410> a<01:14:57.440> consensus<01:14:59.680> solution<01:15:00.680> and<01:15:01.640> so 01:15:01.780 --> 01:15:01.790 align:start position:0% having been a consensus solution and so 01:15:01.790 --> 01:15:04.300 align:start position:0% having been a consensus solution and so then<01:15:01.970> you<01:15:02.720> know<01:15:02.810> also<01:15:03.230> there<01:15:03.380> on<01:15:03.950> the<01:15:03.980> court 01:15:04.300 --> 01:15:04.310 align:start position:0% then you know also there on the court 01:15:04.310 --> 01:15:05.350 align:start position:0% then you know also there on the court you<01:15:04.370> know<01:15:04.460> you<01:15:04.550> have<01:15:04.670> served<01:15:04.910> questions<01:15:05.270> of 01:15:05.350 --> 01:15:05.360 align:start position:0% you know you have served questions of 01:15:05.360 --> 01:15:06.880 align:start position:0% you know you have served questions of coordination<01:15:05.660> Ecija<01:15:06.140> you<01:15:06.560> know<01:15:06.650> all<01:15:06.800> these 01:15:06.880 --> 01:15:06.890 align:start position:0% coordination Ecija you know all these 01:15:06.890 --> 01:15:08.410 align:start position:0% coordination Ecija you know all these different<01:15:06.980> forms<01:15:07.340> in<01:15:07.460> which<01:15:07.580> people<01:15:07.850> are<01:15:07.910> or 01:15:08.410 --> 01:15:08.420 align:start position:0% different forms in which people are or 01:15:08.420 --> 01:15:09.970 align:start position:0% different forms in which people are or discussing<01:15:08.810> amendment<01:15:09.290> you<01:15:09.380> know<01:15:09.470> that<01:15:09.620> many 01:15:09.970 --> 01:15:09.980 align:start position:0% discussing amendment you know that many 01:15:09.980 --> 01:15:11.230 align:start position:0% discussing amendment you know that many thought<01:15:10.100> you<01:15:10.250> know<01:15:10.340> across<01:15:10.610> you<01:15:10.820> know<01:15:10.910> us<01:15:11.030> that 01:15:11.230 --> 01:15:11.240 align:start position:0% thought you know across you know us that 01:15:11.240 --> 01:15:13.000 align:start position:0% thought you know across you know us that their<01:15:11.420> country<01:15:11.900> so<01:15:12.080> about<01:15:12.380> language<01:15:12.710> barriers 01:15:13.000 --> 01:15:13.010 align:start position:0% their country so about language barriers 01:15:13.010 --> 01:15:15.490 align:start position:0% their country so about language barriers a<01:15:13.040> lot<01:15:13.250> of<01:15:13.690> cultural<01:15:14.690> differences<01:15:15.140> that<01:15:15.380> you 01:15:15.490 --> 01:15:15.500 align:start position:0% a lot of cultural differences that you 01:15:15.500 --> 01:15:17.050 align:start position:0% a lot of cultural differences that you including<01:15:15.920> you<01:15:16.280> nobody<01:15:16.550> sustained<01:15:16.910> the 01:15:17.050 --> 01:15:17.060 align:start position:0% including you nobody sustained the 01:15:17.060 --> 01:15:18.340 align:start position:0% including you nobody sustained the experience<01:15:17.390> of<01:15:17.420> you<01:15:17.690> know<01:15:17.720> with<01:15:17.930> voting 01:15:18.340 --> 01:15:18.350 align:start position:0% experience of you know with voting 01:15:18.350 --> 01:15:20.290 align:start position:0% experience of you know with voting praises<01:15:18.800> and<01:15:19.310> in<01:15:19.460> terms<01:15:19.670> of<01:15:19.790> democratic<01:15:20.150> norms 01:15:20.290 --> 01:15:20.300 align:start position:0% praises and in terms of democratic norms 01:15:20.300 --> 01:15:21.460 align:start position:0% praises and in terms of democratic norms all<01:15:20.690> those<01:15:20.780> kind<01:15:20.960> of<01:15:21.020> things<01:15:21.200> you<01:15:21.290> have 01:15:21.460 --> 01:15:21.470 align:start position:0% all those kind of things you have 01:15:21.470 --> 01:15:24.400 align:start position:0% all those kind of things you have different<01:15:22.400> different<01:15:22.850> tastings<01:15:23.330> and<01:15:24.260> then 01:15:24.400 --> 01:15:24.410 align:start position:0% different different tastings and then 01:15:24.410 --> 01:15:25.720 align:start position:0% different different tastings and then also<01:15:24.530> we've<01:15:24.740> had<01:15:24.770> ever<01:15:25.010> serve<01:15:25.250> proposal 01:15:25.720 --> 01:15:25.730 align:start position:0% also we've had ever serve proposal 01:15:25.730 --> 01:15:28.630 align:start position:0% also we've had ever serve proposal sisters<01:15:26.030> I<01:15:26.150> mean<01:15:26.300> breast<01:15:27.260> see<01:15:27.950> breast<01:15:28.250> and<01:15:28.430> in 01:15:28.630 --> 01:15:28.640 align:start position:0% sisters I mean breast see breast and in 01:15:28.640 --> 01:15:29.590 align:start position:0% sisters I mean breast see breast and in Edina<01:15:28.880> Paris 01:15:29.590 --> 01:15:29.600 align:start position:0% Edina Paris 01:15:29.600 --> 01:15:32.770 align:start position:0% Edina Paris Perry<01:15:29.780> started<01:15:30.140> in<01:15:30.260> France<01:15:30.500> and<01:15:31.190> this<01:15:31.400> is<01:15:31.780> from 01:15:32.770 --> 01:15:32.780 align:start position:0% Perry started in France and this is from 01:15:32.780 --> 01:15:34.930 align:start position:0% Perry started in France and this is from the<01:15:33.020> you<01:15:33.230> know<01:15:33.290> from<01:15:33.350> June<01:15:33.800> so<01:15:34.490> you<01:15:34.580> surf<01:15:34.760> clubs 01:15:34.930 --> 01:15:34.940 align:start position:0% the you know from June so you surf clubs 01:15:34.940 --> 01:15:36.760 align:start position:0% the you know from June so you surf clubs notion<01:15:35.300> of<01:15:35.420> new<01:15:35.960> people<01:15:36.140> sort<01:15:36.470> of<01:15:36.530> trying<01:15:36.740> to 01:15:36.760 --> 01:15:36.770 align:start position:0% notion of new people sort of trying to 01:15:36.770 --> 01:15:38.500 align:start position:0% notion of new people sort of trying to attack<01:15:36.890> so<01:15:37.400> it's<01:15:37.550> you<01:15:37.820> know<01:15:37.910> potentially 01:15:38.500 --> 01:15:38.510 align:start position:0% attack so it's you know potentially 01:15:38.510 --> 01:15:41.050 align:start position:0% attack so it's you know potentially capable<01:15:39.020> for<01:15:39.920> other<01:15:40.160> purposes<01:15:40.610> if<01:15:40.790> you<01:15:40.880> can 01:15:41.050 --> 01:15:41.060 align:start position:0% capable for other purposes if you can 01:15:41.060 --> 01:15:43.240 align:start position:0% capable for other purposes if you can get<01:15:41.780> your<01:15:41.870> proposal<01:15:42.380> if<01:15:42.740> you<01:15:42.920> want<01:15:43.070> you<01:15:43.130> to 01:15:43.240 --> 01:15:43.250 align:start position:0% get your proposal if you want you to 01:15:43.250 --> 01:15:44.860 align:start position:0% get your proposal if you want you to want<01:15:43.370> to<01:15:43.430> work<01:15:43.580> off<01:15:43.790> you<01:15:44.030> know<01:15:44.120> you<01:15:44.210> can<01:15:44.660> insert 01:15:44.860 --> 01:15:44.870 align:start position:0% want to work off you know you can insert 01:15:44.870 --> 01:15:47.260 align:start position:0% want to work off you know you can insert a<01:15:45.080> proposal<01:15:45.440> about<01:15:45.620> it<01:15:46.010> you<01:15:46.280> know<01:15:46.400> you<01:15:47.150> know 01:15:47.260 --> 01:15:47.270 align:start position:0% a proposal about it you know you know 01:15:47.270 --> 01:15:48.250 align:start position:0% a proposal about it you know you know not<01:15:47.480> fruitcake 01:15:48.250 --> 01:15:48.260 align:start position:0% not fruitcake 01:15:48.260 --> 01:15:50.470 align:start position:0% not fruitcake it<01:15:48.410> tells<01:15:48.620> of<01:15:48.710> the<01:15:48.770> process<01:15:49.130> and<01:15:49.280> then<01:15:49.460> you<01:15:50.000> can 01:15:50.470 --> 01:15:50.480 align:start position:0% it tells of the process and then you can 01:15:50.480 --> 01:15:52.570 align:start position:0% it tells of the process and then you can you<01:15:50.930> know<01:15:51.020> basically<01:15:51.320> that<01:15:51.680> gives<01:15:52.190> you<01:15:52.280> social 01:15:52.570 --> 01:15:52.580 align:start position:0% you know basically that gives you social 01:15:52.580 --> 01:15:53.950 align:start position:0% you know basically that gives you social charity<01:15:52.910> before<01:15:53.060> about<01:15:53.390> we're<01:15:53.540> going<01:15:53.720> you 01:15:53.950 --> 01:15:53.960 align:start position:0% charity before about we're going you 01:15:53.960 --> 01:15:55.360 align:start position:0% charity before about we're going you know<01:15:54.050> serving<01:15:54.440> serving<01:15:54.890> this<01:15:55.160> kind<01:15:55.340> of 01:15:55.360 --> 01:15:55.370 align:start position:0% know serving serving this kind of 01:15:55.370 --> 01:15:58.120 align:start position:0% know serving serving this kind of dynamic<01:15:55.520> for<01:15:56.180> a<01:15:56.240> while<01:15:56.360> now<01:15:57.320> and<01:15:57.620> then<01:15:57.800> other 01:15:58.120 --> 01:15:58.130 align:start position:0% dynamic for a while now and then other 01:15:58.130 --> 01:15:59.470 align:start position:0% dynamic for a while now and then other questions<01:15:58.550> you<01:15:58.640> know<01:15:58.700> obviously<01:15:58.940> about<01:15:59.120> tests 01:15:59.470 --> 01:15:59.480 align:start position:0% questions you know obviously about tests 01:15:59.480 --> 01:16:02.050 align:start position:0% questions you know obviously about tests and<01:15:59.630> other<01:15:59.720> mechanisms<01:16:00.710> that<01:16:01.100> form<01:16:01.730> only<01:16:01.790> say 01:16:02.050 --> 01:16:02.060 align:start position:0% and other mechanisms that form only say 01:16:02.060 --> 01:16:04.900 align:start position:0% and other mechanisms that form only say cos<01:16:02.330> we're<01:16:02.870> not<01:16:03.020> the<01:16:03.140> rest<01:16:03.380> right<01:16:03.560> so<01:16:03.920> you<01:16:04.820> know 01:16:04.900 --> 01:16:04.910 align:start position:0% cos we're not the rest right so you know 01:16:04.910 --> 01:16:07.300 align:start position:0% cos we're not the rest right so you know the<01:16:05.090> answer<01:16:05.540> here<01:16:05.750> is<01:16:05.800> really<01:16:06.800> I<01:16:06.950> think<01:16:07.070> a 01:16:07.300 --> 01:16:07.310 align:start position:0% the answer here is really I think a 01:16:07.310 --> 01:16:08.560 align:start position:0% the answer here is really I think a little<01:16:07.430> different<01:16:07.790> than<01:16:07.910> that<01:16:07.940> I<01:16:08.240> think<01:16:08.450> I 01:16:08.560 --> 01:16:08.570 align:start position:0% little different than that I think I 01:16:08.570 --> 01:16:10.480 align:start position:0% little different than that I think I think<01:16:08.600> it's<01:16:08.870> not<01:16:09.020> just<01:16:09.260> about<01:16:09.470> the<01:16:10.190> question 01:16:10.480 --> 01:16:10.490 align:start position:0% think it's not just about the question 01:16:10.490 --> 01:16:11.000 align:start position:0% think it's not just about the question of 01:16:11.000 --> 01:16:11.010 align:start position:0% of 01:16:11.010 --> 01:16:12.140 align:start position:0% of the<01:16:11.100> doctors<01:16:11.370> whatever<01:16:11.610> it's<01:16:11.760> actually 01:16:12.140 --> 01:16:12.150 align:start position:0% the doctors whatever it's actually 01:16:12.150 --> 01:16:14.600 align:start position:0% the doctors whatever it's actually intangibly<01:16:12.930> how<01:16:13.830> do<01:16:13.890> we<01:16:14.040> ensure<01:16:14.280> that<01:16:14.370> we<01:16:14.489> have 01:16:14.600 --> 01:16:14.610 align:start position:0% intangibly how do we ensure that we have 01:16:14.610 --> 01:16:16.430 align:start position:0% intangibly how do we ensure that we have flexibility<01:16:15.150> against<01:16:15.570> sort<01:16:15.870> of<01:16:15.930> hard<01:16:16.170> upon 01:16:16.430 --> 01:16:16.440 align:start position:0% flexibility against sort of hard upon 01:16:16.440 --> 01:16:18.440 align:start position:0% flexibility against sort of hard upon chain<01:16:16.710> rule<01:16:16.950> so<01:16:17.220> you<01:16:17.970> know<01:16:18.060> you<01:16:18.120> look<01:16:18.360> at 01:16:18.440 --> 01:16:18.450 align:start position:0% chain rule so you know you look at 01:16:18.450 --> 01:16:19.790 align:start position:0% chain rule so you know you look at things<01:16:18.600> like<01:16:18.720> Bitcoin<01:16:18.960> where<01:16:19.350> you<01:16:19.739> know 01:16:19.790 --> 01:16:19.800 align:start position:0% things like Bitcoin where you know 01:16:19.800 --> 01:16:21.560 align:start position:0% things like Bitcoin where you know originally<01:16:20.310> mining<01:16:20.670> was<01:16:20.820> actually<01:16:21.330> really 01:16:21.560 --> 01:16:21.570 align:start position:0% originally mining was actually really 01:16:21.570 --> 01:16:23.180 align:start position:0% originally mining was actually really widely<01:16:21.930> distributed<01:16:22.380> you<01:16:22.590> sort<01:16:22.800> over<01:16:23.010> time 01:16:23.180 --> 01:16:23.190 align:start position:0% widely distributed you sort over time 01:16:23.190 --> 01:16:25.280 align:start position:0% widely distributed you sort over time there<01:16:23.370> became<01:16:23.640> a<01:16:23.700> companies<01:16:24.060> of<01:16:24.180> scale<01:16:24.390> that's 01:16:25.280 --> 01:16:25.290 align:start position:0% there became a companies of scale that's 01:16:25.290 --> 01:16:27.920 align:start position:0% there became a companies of scale that's not<01:16:25.440> quite<01:16:25.680> analogous<01:16:26.370> but<01:16:26.520> the<01:16:26.880> point<01:16:27.120> is<01:16:27.270> you 01:16:27.920 --> 01:16:27.930 align:start position:0% not quite analogous but the point is you 01:16:27.930 --> 01:16:29.240 align:start position:0% not quite analogous but the point is you don't<01:16:28.170> actually<01:16:28.320> know<01:16:28.620> who's<01:16:28.830> going<01:16:29.010> to<01:16:29.070> come 01:16:29.240 --> 01:16:29.250 align:start position:0% don't actually know who's going to come 01:16:29.250 --> 01:16:30.890 align:start position:0% don't actually know who's going to come to<01:16:29.370> and<01:16:29.520> if<01:16:29.610> you<01:16:29.700> have<01:16:29.730> hard<01:16:30.000> coded<01:16:30.270> rules<01:16:30.450> you 01:16:30.890 --> 01:16:30.900 align:start position:0% to and if you have hard coded rules you 01:16:30.900 --> 01:16:32.030 align:start position:0% to and if you have hard coded rules you don't<01:16:30.930> understand<01:16:31.290> Oh<01:16:31.500> who's<01:16:31.680> going<01:16:31.860> to<01:16:31.920> come 01:16:32.030 --> 01:16:32.040 align:start position:0% don't understand Oh who's going to come 01:16:32.040 --> 01:16:33.920 align:start position:0% don't understand Oh who's going to come to<01:16:32.070> a<01:16:32.160> control<01:16:32.430> system<01:16:32.640> long<01:16:33.600> into<01:16:33.810> the<01:16:33.900> future 01:16:33.920 --> 01:16:33.930 align:start position:0% to a control system long into the future 01:16:33.930 --> 01:16:36.110 align:start position:0% to a control system long into the future and<01:16:34.320> so<01:16:34.470> you<01:16:34.560> need<01:16:34.710> other<01:16:35.280> mechanisms<01:16:36.030> are 01:16:36.110 --> 01:16:36.120 align:start position:0% and so you need other mechanisms are 01:16:36.120 --> 01:16:37.790 align:start position:0% and so you need other mechanisms are potentially<01:16:36.570> other<01:16:36.989> other<01:16:37.290> systems<01:16:37.739> to 01:16:37.790 --> 01:16:37.800 align:start position:0% potentially other other systems to 01:16:37.800 --> 01:16:40.820 align:start position:0% potentially other other systems to ensure<01:16:38.700> that<01:16:38.730> enough<01:16:39.360> flexibility<01:16:39.810> and<01:16:40.590> so<01:16:40.800> a 01:16:40.820 --> 01:16:40.830 align:start position:0% ensure that enough flexibility and so a 01:16:40.830 --> 01:16:42.200 align:start position:0% ensure that enough flexibility and so a few<01:16:41.070> of<01:16:41.130> these<01:16:41.250> are<01:16:41.550> you<01:16:41.790> know<01:16:41.880> that<01:16:42.000> the 01:16:42.200 --> 01:16:42.210 align:start position:0% few of these are you know that the 01:16:42.210 --> 01:16:44.150 align:start position:0% few of these are you know that the discuss<01:16:42.540> are<01:16:42.780> in<01:16:43.170> terms<01:16:43.560> of<01:16:43.710> things<01:16:43.920> you<01:16:44.100> know 01:16:44.150 --> 01:16:44.160 align:start position:0% discuss are in terms of things you know 01:16:44.160 --> 01:16:45.650 align:start position:0% discuss are in terms of things you know sort<01:16:44.370> of<01:16:44.430> inspired<01:16:44.820> by<01:16:44.880> it<01:16:45.030> it's<01:16:45.210> sort<01:16:45.390> of<01:16:45.450> now 01:16:45.650 --> 01:16:45.660 align:start position:0% sort of inspired by it it's sort of now 01:16:45.660 --> 01:16:47.240 align:start position:0% sort of inspired by it it's sort of now Ellis<01:16:46.140> is<01:16:46.260> sort<01:16:46.410> of<01:16:46.440> inspired<01:16:46.739> by<01:16:46.830> dowel<01:16:47.010> stock 01:16:47.240 --> 01:16:47.250 align:start position:0% Ellis is sort of inspired by dowel stock 01:16:47.250 --> 01:16:49.580 align:start position:0% Ellis is sort of inspired by dowel stock that<01:16:47.820> is<01:16:48.030> like<01:16:48.210> you<01:16:48.300> do<01:16:48.480> prediction<01:16:49.140> games<01:16:49.320> on 01:16:49.580 --> 01:16:49.590 align:start position:0% that is like you do prediction games on 01:16:49.590 --> 01:16:52.160 align:start position:0% that is like you do prediction games on proposals<01:16:50.250> to<01:16:50.460> write<01:16:50.580> proposals<01:16:50.760> you<01:16:51.239> can<01:16:51.420> use 01:16:52.160 --> 01:16:52.170 align:start position:0% proposals to write proposals you can use 01:16:52.170 --> 01:16:53.510 align:start position:0% proposals to write proposals you can use this<01:16:52.350> to<01:16:52.620> mitigate<01:16:53.040> you<01:16:53.160> know<01:16:53.280> certain 01:16:53.510 --> 01:16:53.520 align:start position:0% this to mitigate you know certain 01:16:53.520 --> 01:16:55.370 align:start position:0% this to mitigate you know certain governance<01:16:53.820> by<01:16:53.910> state<01:16:54.180> potentially<01:16:54.750> you<01:16:55.320> can 01:16:55.370 --> 01:16:55.380 align:start position:0% governance by state potentially you can 01:16:55.380 --> 01:16:56.960 align:start position:0% governance by state potentially you can also<01:16:55.530> do<01:16:55.710> that<01:16:55.770> you<01:16:56.250> know<01:16:56.340> there's<01:16:56.489> all<01:16:56.580> sorts 01:16:56.960 --> 01:16:56.970 align:start position:0% also do that you know there's all sorts 01:16:56.970 --> 01:16:58.340 align:start position:0% also do that you know there's all sorts of<01:16:57.060> you<01:16:57.330> know<01:16:57.450> if<01:16:57.570> you<01:16:57.630> want<01:16:57.810> this<01:16:57.900> to<01:16:57.960> be<01:16:58.140> you 01:16:58.340 --> 01:16:58.350 align:start position:0% of you know if you want this to be you 01:16:58.350 --> 01:16:59.270 align:start position:0% of you know if you want this to be you know<01:16:58.440> sort<01:16:58.560> of<01:16:58.680> this<01:16:58.739> economic 01:16:59.270 --> 01:16:59.280 align:start position:0% know sort of this economic 01:16:59.280 --> 01:17:00.650 align:start position:0% know sort of this economic infrastructure<01:16:59.760> that<01:17:00.000> can<01:17:00.150> upgrade<01:17:00.330> itself 01:17:00.650 --> 01:17:00.660 align:start position:0% infrastructure that can upgrade itself 01:17:00.660 --> 01:17:02.479 align:start position:0% infrastructure that can upgrade itself very<01:17:00.900> conservatively<01:17:01.739> you<01:17:01.950> can<01:17:02.340> basically 01:17:02.479 --> 01:17:02.489 align:start position:0% very conservatively you can basically 01:17:02.489 --> 01:17:04.130 align:start position:0% very conservatively you can basically set<01:17:02.970> higher<01:17:03.210> approval<01:17:03.480> thresholds<01:17:04.110> for 01:17:04.130 --> 01:17:04.140 align:start position:0% set higher approval thresholds for 01:17:04.140 --> 01:17:06.110 align:start position:0% set higher approval thresholds for certain<01:17:04.530> parameters<01:17:05.489> or<01:17:05.730> other 01:17:06.110 --> 01:17:06.120 align:start position:0% certain parameters or other 01:17:06.120 --> 01:17:09.350 align:start position:0% certain parameters or other characteristics<01:17:07.020> of<01:17:07.170> proposals<01:17:07.920> that<01:17:08.360> you 01:17:09.350 --> 01:17:09.360 align:start position:0% characteristics of proposals that you 01:17:09.360 --> 01:17:11.300 align:start position:0% characteristics of proposals that you don't<01:17:09.780> want<01:17:09.960> to<01:17:10.200> change<01:17:10.739> you'll<01:17:11.040> be<01:17:11.130> able<01:17:11.190> to 01:17:11.300 --> 01:17:11.310 align:start position:0% don't want to change you'll be able to 01:17:11.310 --> 01:17:14.840 align:start position:0% don't want to change you'll be able to change<01:17:13.130> and<01:17:14.130> then<01:17:14.250> the<01:17:14.340> other<01:17:14.489> question<01:17:14.820> is 01:17:14.840 --> 01:17:14.850 align:start position:0% change and then the other question is 01:17:14.850 --> 01:17:16.610 align:start position:0% change and then the other question is like<01:17:15.060> you<01:17:15.480> know<01:17:15.570> basically<01:17:16.050> our<01:17:16.320> small 01:17:16.610 --> 01:17:16.620 align:start position:0% like you know basically our small 01:17:16.620 --> 01:17:17.990 align:start position:0% like you know basically our small stakeholders<01:17:17.100> and<01:17:17.250> smart<01:17:17.460> entrepreneurs 01:17:17.990 --> 01:17:18.000 align:start position:0% stakeholders and smart entrepreneurs 01:17:18.000 --> 01:17:19.880 align:start position:0% stakeholders and smart entrepreneurs just<01:17:18.150> curl<01:17:18.480> and<01:17:18.750> this<01:17:18.900> is<01:17:19.050> some<01:17:19.230> sort<01:17:19.500> of<01:17:19.650> well 01:17:19.880 --> 01:17:19.890 align:start position:0% just curl and this is some sort of well 01:17:19.890 --> 01:17:21.830 align:start position:0% just curl and this is some sort of well you<01:17:20.430> know<01:17:20.489> who's<01:17:20.760> looking<01:17:20.880> out<01:17:21.090> for<01:17:21.390> it<01:17:21.540> is<01:17:21.600> or 01:17:21.830 --> 01:17:21.840 align:start position:0% you know who's looking out for it is or 01:17:21.840 --> 01:17:23.930 align:start position:0% you know who's looking out for it is or other<01:17:21.989> folks<01:17:22.230> whose<01:17:22.470> was<01:17:22.710> you<01:17:23.040> don't<01:17:23.280> have<01:17:23.520> as 01:17:23.930 --> 01:17:23.940 align:start position:0% other folks whose was you don't have as 01:17:23.940 --> 01:17:26.600 align:start position:0% other folks whose was you don't have as much<01:17:24.090> insight<01:17:24.720> into<01:17:24.750> it<01:17:25.110> so<01:17:25.320> you<01:17:25.950> know<01:17:26.250> just<01:17:26.400> to 01:17:26.600 --> 01:17:26.610 align:start position:0% much insight into it so you know just to 01:17:26.610 --> 01:17:28.640 align:start position:0% much insight into it so you know just to wrap<01:17:26.970> up<01:17:27.150> to<01:17:27.360> that<01:17:27.540> someone<01:17:27.930> things 01:17:28.640 --> 01:17:28.650 align:start position:0% wrap up to that someone things 01:17:28.650 --> 01:17:31.100 align:start position:0% wrap up to that someone things for<01:17:29.550> a<01:17:29.580> while<01:17:29.700> scholars<01:17:29.970> is<01:17:30.360> basically<01:17:30.600> how<01:17:31.050> do 01:17:31.100 --> 01:17:31.110 align:start position:0% for a while scholars is basically how do 01:17:31.110 --> 01:17:33.560 align:start position:0% for a while scholars is basically how do we<01:17:31.290> do<01:17:31.710> we<01:17:31.830> get<01:17:32.010> easy<01:17:32.400> for<01:17:32.760> many<01:17:33.060> many<01:17:33.300> staple 01:17:33.560 --> 01:17:33.570 align:start position:0% we do we get easy for many many staple 01:17:33.570 --> 01:17:34.520 align:start position:0% we do we get easy for many many staple from<01:17:33.690> the<01:17:33.810> world<01:17:33.930> to<01:17:34.020> understand<01:17:34.380> what's 01:17:34.520 --> 01:17:34.530 align:start position:0% from the world to understand what's 01:17:34.530 --> 01:17:36.590 align:start position:0% from the world to understand what's going<01:17:34.590> on<01:17:34.770> the<01:17:34.890> process<01:17:35.280> and<01:17:35.520> also<01:17:36.060> address 01:17:36.590 --> 01:17:36.600 align:start position:0% going on the process and also address 01:17:36.600 --> 01:17:38.540 align:start position:0% going on the process and also address their<01:17:36.780> different<01:17:37.140> preferences<01:17:37.560> and<01:17:38.340> so<01:17:38.460> you 01:17:38.540 --> 01:17:38.550 align:start position:0% their different preferences and so you 01:17:38.550 --> 01:17:40.250 align:start position:0% their different preferences and so you have<01:17:38.700> you<01:17:38.790> know<01:17:38.850> initial<01:17:39.180> laser<01:17:39.510> focus<01:17:40.170> on 01:17:40.250 --> 01:17:40.260 align:start position:0% have you know initial laser focus on 01:17:40.260 --> 01:17:42.140 align:start position:0% have you know initial laser focus on telling<01:17:40.440> surface<01:17:40.950> governor's<01:17:41.610> Explorer<01:17:42.030> of 01:17:42.140 --> 01:17:42.150 align:start position:0% telling surface governor's Explorer of 01:17:42.150 --> 01:17:44.900 align:start position:0% telling surface governor's Explorer of flora<01:17:42.960> but<01:17:43.800> later<01:17:43.980> into<01:17:44.190> the<01:17:44.220> ideas<01:17:44.580> to<01:17:44.700> build 01:17:44.900 --> 01:17:44.910 align:start position:0% flora but later into the ideas to build 01:17:44.910 --> 01:17:46.280 align:start position:0% flora but later into the ideas to build you<01:17:45.420> know<01:17:45.450> sort<01:17:45.720> of<01:17:45.780> a<01:17:45.810> full<01:17:45.960> speed<01:17:46.170> of 01:17:46.280 --> 01:17:46.290 align:start position:0% you know sort of a full speed of 01:17:46.290 --> 01:17:48.080 align:start position:0% you know sort of a full speed of signaling<01:17:46.710> tools<01:17:46.950> so<01:17:47.190> you<01:17:47.550> know<01:17:47.670> as<01:17:47.850> well<01:17:48.030> as 01:17:48.080 --> 01:17:48.090 align:start position:0% signaling tools so you know as well as 01:17:48.090 --> 01:17:50.150 align:start position:0% signaling tools so you know as well as your<01:17:48.270> visual<01:17:48.540> on<01:17:48.600> prediction<01:17:48.960> markets<01:17:49.290> and 01:17:50.150 --> 01:17:50.160 align:start position:0% your visual on prediction markets and 01:17:50.160 --> 01:17:52.670 align:start position:0% your visual on prediction markets and then<01:17:50.340> also<01:17:50.750> things<01:17:51.750> like<01:17:51.810> house<01:17:52.080> for 01:17:52.670 --> 01:17:52.680 align:start position:0% then also things like house for 01:17:52.680 --> 01:17:53.990 align:start position:0% then also things like house for governance<01:17:53.070> as<01:17:53.220> well<01:17:53.400> as<01:17:53.520> for<01:17:53.700> Commons 01:17:53.990 --> 01:17:54.000 align:start position:0% governance as well as for Commons 01:17:54.000 --> 01:17:56.090 align:start position:0% governance as well as for Commons governance<01:17:54.420> it<01:17:55.320> looks<01:17:55.470> like<01:17:55.560> domain<01:17:55.890> names 01:17:56.090 --> 01:17:56.100 align:start position:0% governance it looks like domain names 01:17:56.100 --> 01:17:57.890 align:start position:0% governance it looks like domain names and<01:17:56.370> registries<01:17:57.180> and<01:17:57.330> other<01:17:57.480> kinds<01:17:57.750> of<01:17:57.780> things 01:17:57.890 --> 01:17:57.900 align:start position:0% and registries and other kinds of things 01:17:57.900 --> 01:17:59.480 align:start position:0% and registries and other kinds of things like<01:17:58.080> that<01:17:58.230> and<01:17:58.950> then<01:17:59.100> the<01:17:59.160> last<01:17:59.190> thing<01:17:59.430> that 01:17:59.480 --> 01:17:59.490 align:start position:0% like that and then the last thing that 01:17:59.490 --> 01:18:01.230 align:start position:0% like that and then the last thing that things<01:17:59.760> like<01:17:59.910> I<01:17:59.970> don't 01:18:01.230 --> 01:18:01.240 align:start position:0% things like I don't 01:18:01.240 --> 01:18:09.420 align:start position:0% things like I don't you<01:18:01.750> sort<01:18:02.350> of<01:18:02.410> a<01:18:02.530> more<01:18:02.860> such<01:18:03.130> resistance<01:18:08.430> yeah 01:18:09.420 --> 01:18:09.430 align:start position:0% you sort of a more such resistance yeah 01:18:09.430 --> 01:18:15.480 align:start position:0% you sort of a more such resistance yeah awesome<01:18:10.300> thank<01:18:10.690> you<01:18:14.220> yes 01:18:15.480 --> 01:18:15.490 align:start position:0% awesome thank you yes 01:18:15.490 --> 01:18:18.600 align:start position:0% awesome thank you yes so<01:18:15.640> I<01:18:15.820> have<01:18:15.970> two<01:18:16.180> slides<01:18:17.100> because<01:18:18.100> that<01:18:18.370> mostly 01:18:18.600 --> 01:18:18.610 align:start position:0% so I have two slides because that mostly 01:18:18.610 --> 01:18:21.780 align:start position:0% so I have two slides because that mostly go<01:18:18.730> to<01:18:18.880> wipe<01:18:19.000> out<01:18:19.210> this<01:18:19.890> so<01:18:20.890> I'm<01:18:21.220> Adrian<01:18:21.670> a 01:18:21.780 --> 01:18:21.790 align:start position:0% go to wipe out this so I'm Adrian a 01:18:21.790 --> 01:18:25.710 align:start position:0% go to wipe out this so I'm Adrian a month<01:18:22.000> two<01:18:22.660> naps<01:18:23.190> so<01:18:24.190> very<01:18:24.550> briefly<01:18:24.820> 50<01:18:25.480> laps 01:18:25.710 --> 01:18:25.720 align:start position:0% month two naps so very briefly 50 laps 01:18:25.720 --> 01:18:28.650 align:start position:0% month two naps so very briefly 50 laps is<01:18:26.400> for<01:18:27.400> engineering<01:18:27.940> team<01:18:28.090> that<01:18:28.510> also 01:18:28.650 --> 01:18:28.660 align:start position:0% is for engineering team that also 01:18:28.660 --> 01:18:30.330 align:start position:0% is for engineering team that also happens<01:18:29.080> from<01:18:29.290> now<01:18:29.470> they<01:18:29.710> ask<01:18:29.860> you<01:18:30.010> to<01:18:30.130> sell<01:18:30.310> me 01:18:30.330 --> 01:18:30.340 align:start position:0% happens from now they ask you to sell me 01:18:30.340 --> 01:18:32.790 align:start position:0% happens from now they ask you to sell me start<01:18:30.640> occupants<01:18:31.060> and<01:18:31.480> banal<01:18:32.110> gives<01:18:32.380> us<01:18:32.590> love 01:18:32.790 --> 01:18:32.800 align:start position:0% start occupants and banal gives us love 01:18:32.800 --> 01:18:34.590 align:start position:0% start occupants and banal gives us love inside<01:18:33.250> these<01:18:33.670> government<01:18:34.090> systems<01:18:34.420> were 01:18:34.590 --> 01:18:34.600 align:start position:0% inside these government systems were 01:18:34.600 --> 01:18:37.080 align:start position:0% inside these government systems were because<01:18:35.320> we<01:18:35.500> set<01:18:36.280> up<01:18:36.310> having<01:18:36.580> to<01:18:36.700> run<01:18:36.820> every 01:18:37.080 --> 01:18:37.090 align:start position:0% because we set up having to run every 01:18:37.090 --> 01:18:38.730 align:start position:0% because we set up having to run every single<01:18:37.300> through<01:18:37.630> a<01:18:37.690> state<01:18:37.900> can<01:18:38.110> be<01:18:38.230> only<01:18:38.410> one 01:18:38.730 --> 01:18:38.740 align:start position:0% single through a state can be only one 01:18:38.740 --> 01:18:40.050 align:start position:0% single through a state can be only one of<01:18:38.800> the<01:18:38.860> things<01:18:39.070> that<01:18:39.250> are<01:18:39.370> technically 01:18:40.050 --> 01:18:40.060 align:start position:0% of the things that are technically 01:18:40.060 --> 01:18:42.000 align:start position:0% of the things that are technically interesting<01:18:40.600> and<01:18:40.840> we're<01:18:41.560> very<01:18:41.590> heavily 01:18:42.000 --> 01:18:42.010 align:start position:0% interesting and we're very heavily 01:18:42.010 --> 01:18:43.680 align:start position:0% interesting and we're very heavily involved<01:18:42.280> in<01:18:42.640> the<01:18:42.820> technical<01:18:43.120> governance<01:18:43.540> on 01:18:43.680 --> 01:18:43.690 align:start position:0% involved in the technical governance on 01:18:43.690 --> 01:18:46.320 align:start position:0% involved in the technical governance on these<01:18:43.840> systems<01:18:44.020> so<01:18:44.800> I<01:18:44.830> must<01:18:45.220> defer<01:18:45.550> to<01:18:45.610> mr.<01:18:45.850> on 01:18:46.320 --> 01:18:46.330 align:start position:0% these systems so I must defer to mr. on 01:18:46.330 --> 01:18:50.040 align:start position:0% these systems so I must defer to mr. on and<01:18:46.810> in<01:18:47.500> June<01:18:47.740> respective<01:18:48.310> of<01:18:48.840> micro<01:18:49.840> just 01:18:50.040 --> 01:18:50.050 align:start position:0% and in June respective of micro just 01:18:50.050 --> 01:18:52.170 align:start position:0% and in June respective of micro just aging<01:18:50.290> detective<01:18:50.950> these<01:18:51.610> proposed<01:18:51.940> evolve 01:18:52.170 --> 01:18:52.180 align:start position:0% aging detective these proposed evolve 01:18:52.180 --> 01:18:55.350 align:start position:0% aging detective these proposed evolve over<01:18:52.300> time<01:18:53.370> since<01:18:54.370> G<01:18:54.670> have<01:18:54.880> said<01:18:55.150> that<01:18:55.330> I 01:18:55.350 --> 01:18:55.360 align:start position:0% over time since G have said that I 01:18:55.360 --> 01:18:57.510 align:start position:0% over time since G have said that I should<01:18:55.690> briefly<01:18:56.530> talk<01:18:56.890> about<01:18:56.920> the<01:18:57.130> technical 01:18:57.510 --> 01:18:57.520 align:start position:0% should briefly talk about the technical 01:18:57.520 --> 01:18:59.130 align:start position:0% should briefly talk about the technical settings<01:18:58.060> so<01:18:58.270> tell<01:18:58.480> us<01:18:58.510> government<01:18:58.930> supposed 01:18:59.130 --> 01:18:59.140 align:start position:0% settings so tell us government supposed 01:18:59.140 --> 01:19:05.960 align:start position:0% settings so tell us government supposed to<01:18:59.230> call<01:18:59.380> it<01:18:59.440> to<01:18:59.560> that<01:18:59.740> as<01:18:59.800> well 01:19:05.960 --> 01:19:05.970 align:start position:0% 01:19:05.970 --> 01:19:10.410 align:start position:0% top<01:19:06.970> 10<01:19:07.390> works<01:19:07.660> is<01:19:08.320> for<01:19:08.530> white<01:19:08.680> votes<01:19:09.030> cool<01:19:10.030> all 01:19:10.410 --> 01:19:10.420 align:start position:0% top 10 works is for white votes cool all 01:19:10.420 --> 01:19:10.860 align:start position:0% top 10 works is for white votes cool all right 01:19:10.860 --> 01:19:10.870 align:start position:0% right 01:19:10.870 --> 01:19:12.540 align:start position:0% right let's<01:19:11.170> start<01:19:11.440> with<01:19:11.560> a<01:19:11.650> brief<01:19:11.770> over<01:19:12.160> your<01:19:12.280> fault 01:19:12.540 --> 01:19:12.550 align:start position:0% let's start with a brief over your fault 01:19:12.550 --> 01:19:17.670 align:start position:0% let's start with a brief over your fault options<01:19:12.970> are<01:19:13.150> right<01:19:13.450> we<01:19:13.960> have<01:19:16.680> some 01:19:17.670 --> 01:19:17.680 align:start position:0% options are right we have some 01:19:17.680 --> 01:19:22.660 align:start position:0% options are right we have some networking<01:19:18.100> stack<01:19:18.430> normally 01:19:22.660 --> 01:19:22.670 align:start position:0% 01:19:22.670 --> 01:19:29.950 align:start position:0% can<01:19:23.670> relocate<01:19:24.710> and<01:19:25.710> we<01:19:25.860> have 01:19:29.950 --> 01:19:29.960 align:start position:0% 01:19:29.960 --> 01:19:36.470 align:start position:0% [Music] 01:19:36.470 --> 01:19:36.480 align:start position:0% 01:19:36.480 --> 01:19:40.839 align:start position:0% then<01:19:36.809> we<01:19:36.929> have<01:19:37.019> some<01:19:37.289> consensus<01:19:38.070> death<01:19:39.469> and 01:19:40.839 --> 01:19:40.849 align:start position:0% then we have some consensus death and 01:19:40.849 --> 01:19:44.209 align:start position:0% then we have some consensus death and afterwards<01:19:41.849> we<01:19:41.969> have<01:19:42.179> some<01:19:42.650> economic<01:19:43.650> state 01:19:44.209 --> 01:19:44.219 align:start position:0% afterwards we have some economic state 01:19:44.219 --> 01:19:46.230 align:start position:0% afterwards we have some economic state machine 01:19:46.230 --> 01:19:46.240 align:start position:0% machine 01:19:46.240 --> 01:19:47.839 align:start position:0% machine [Music] 01:19:47.839 --> 01:19:47.849 align:start position:0% [Music] 01:19:47.849 --> 01:19:50.990 align:start position:0% [Music] stay<01:19:48.480> cheap<01:19:49.020> this<01:19:49.949> is<01:19:50.099> front<01:19:50.310> one<01:19:50.520> because 01:19:50.990 --> 01:19:51.000 align:start position:0% stay cheap this is front one because 01:19:51.000 --> 01:19:54.140 align:start position:0% stay cheap this is front one because this<01:19:51.989> is<01:19:52.380> completely<01:19:52.710> agnostic<01:19:53.130> so<01:19:53.940> when<01:19:54.090> you 01:19:54.140 --> 01:19:54.150 align:start position:0% this is completely agnostic so when you 01:19:54.150 --> 01:19:55.370 align:start position:0% this is completely agnostic so when you think<01:19:54.329> about<01:19:54.480> what<01:19:54.780> those<01:19:54.929> have<01:19:55.199> better 01:19:55.370 --> 01:19:55.380 align:start position:0% think about what those have better 01:19:55.380 --> 01:19:58.729 align:start position:0% think about what those have better features<01:19:55.590> Ryoga<01:19:56.219> is<01:19:57.260> networking<01:19:58.260> out<01:19:58.409> we<01:19:58.530> see 01:19:58.729 --> 01:19:58.739 align:start position:0% features Ryoga is networking out we see 01:19:58.739 --> 01:20:01.040 align:start position:0% features Ryoga is networking out we see calls<01:19:59.010> everything<01:19:59.310> better<01:19:59.699> is<01:20:00.420> local<01:20:00.840> to<01:20:00.869> your 01:20:01.040 --> 01:20:01.050 align:start position:0% calls everything better is local to your 01:20:01.050 --> 01:20:02.990 align:start position:0% calls everything better is local to your note<01:20:01.260> it's<01:20:02.040> totally<01:20:02.340> up<01:20:02.429> to<01:20:02.460> you<01:20:02.670> that's<01:20:02.880> we 01:20:02.990 --> 01:20:03.000 align:start position:0% note it's totally up to you that's we 01:20:03.000 --> 01:20:04.939 align:start position:0% note it's totally up to you that's we have<01:20:03.210> many<01:20:03.389> very<01:20:03.690> tiny<01:20:03.989> mutations<01:20:04.590> that<01:20:04.710> right 01:20:04.939 --> 01:20:04.949 align:start position:0% have many very tiny mutations that right 01:20:04.949 --> 01:20:06.879 align:start position:0% have many very tiny mutations that right doc<01:20:05.520> changes<01:20:05.849> generally<01:20:06.179> have<01:20:06.300> many<01:20:06.480> clients 01:20:06.879 --> 01:20:06.889 align:start position:0% doc changes generally have many clients 01:20:06.889 --> 01:20:09.350 align:start position:0% doc changes generally have many clients the<01:20:07.889> only<01:20:08.159> two<01:20:08.340> things<01:20:08.489> that<01:20:08.639> they<01:20:08.820> do<01:20:09.090> agree 01:20:09.350 --> 01:20:09.360 align:start position:0% the only two things that they do agree 01:20:09.360 --> 01:20:13.399 align:start position:0% the only two things that they do agree upon<01:20:09.659> is<01:20:09.900> consensus<01:20:10.679> and<01:20:10.920> in<01:20:11.219> our<01:20:11.400> protocol<01:20:12.409> so 01:20:13.399 --> 01:20:13.409 align:start position:0% upon is consensus and in our protocol so 01:20:13.409 --> 01:20:15.169 align:start position:0% upon is consensus and in our protocol so for<01:20:13.560> example<01:20:13.980> in<01:20:14.130> the<01:20:14.219> example<01:20:14.280> of<01:20:14.699> cosmos 01:20:15.169 --> 01:20:15.179 align:start position:0% for example in the example of cosmos 01:20:15.179 --> 01:20:18.410 align:start position:0% for example in the example of cosmos this<01:20:15.810> will<01:20:16.230> be<01:20:16.380> 10<01:20:16.530> min<01:20:16.739> consensus<01:20:17.250> and<01:20:17.489> this 01:20:18.410 --> 01:20:18.420 align:start position:0% this will be 10 min consensus and this 01:20:18.420 --> 01:20:20.890 align:start position:0% this will be 10 min consensus and this would<01:20:18.719> be<01:20:18.929> the<01:20:19.230> cosmos<01:20:20.190> hot<01:20:20.400> or<01:20:20.610> gaia 01:20:20.890 --> 01:20:20.900 align:start position:0% would be the cosmos hot or gaia 01:20:20.900 --> 01:20:23.000 align:start position:0% would be the cosmos hot or gaia depending<01:20:21.900> on<01:20:22.050> you<01:20:22.290> succeed<01:20:22.650> to<01:20:22.829> naming 01:20:23.000 --> 01:20:23.010 align:start position:0% depending on you succeed to naming 01:20:23.010 --> 01:20:25.640 align:start position:0% depending on you succeed to naming incorrectly<01:20:23.610> we'll<01:20:23.880> see<01:20:24.199> that's<01:20:25.199> currently 01:20:25.640 --> 01:20:25.650 align:start position:0% incorrectly we'll see that's currently 01:20:25.650 --> 01:20:27.260 align:start position:0% incorrectly we'll see that's currently some<01:20:25.829> contention<01:20:26.310> about<01:20:26.369> this<01:20:26.670> and<01:20:26.909> there<01:20:27.150> may 01:20:27.260 --> 01:20:27.270 align:start position:0% some contention about this and there may 01:20:27.270 --> 01:20:28.580 align:start position:0% some contention about this and there may be<01:20:27.300> new<01:20:27.540> government's<01:20:27.929> proposed<01:20:28.199> about<01:20:28.469> this 01:20:28.580 --> 01:20:28.590 align:start position:0% be new government's proposed about this 01:20:28.590 --> 01:20:31.339 align:start position:0% be new government's proposed about this as<01:20:28.710> well<01:20:29.239> but<01:20:30.239> specifically<01:20:30.750> the<01:20:30.929> economics 01:20:31.339 --> 01:20:31.349 align:start position:0% as well but specifically the economics 01:20:31.349 --> 01:20:33.649 align:start position:0% as well but specifically the economics eat<01:20:31.469> machine<01:20:31.790> success<01:20:32.790> what<01:20:33.060> is<01:20:33.179> golf<01:20:33.420> it's 01:20:33.649 --> 01:20:33.659 align:start position:0% eat machine success what is golf it's 01:20:33.659 --> 01:20:34.879 align:start position:0% eat machine success what is golf it's actually<01:20:34.050> how<01:20:34.139> do<01:20:34.199> you<01:20:34.320> get<01:20:34.440> to<01:20:34.530> move<01:20:34.679> funds 01:20:34.879 --> 01:20:34.889 align:start position:0% actually how do you get to move funds 01:20:34.889 --> 01:20:40.640 align:start position:0% actually how do you get to move funds around<01:20:35.010> husband<01:20:35.520> statement<01:20:38.810> ok<01:20:39.810> cool 01:20:40.640 --> 01:20:40.650 align:start position:0% around husband statement ok cool 01:20:40.650 --> 01:20:44.510 align:start position:0% around husband statement ok cool now<01:20:40.949> that<01:20:41.340> you<01:20:41.489> know<01:20:41.790> this<01:20:42.179> I<01:20:42.510> am<01:20:43.199> and<01:20:43.409> when<01:20:44.369> we 01:20:44.510 --> 01:20:44.520 align:start position:0% now that you know this I am and when we 01:20:44.520 --> 01:20:49.729 align:start position:0% now that you know this I am and when we talk<01:20:44.820> about<01:20:45.260> governance<01:20:46.260> in<01:20:47.250> many<01:20:47.310> cases<01:20:48.739> we 01:20:49.729 --> 01:20:49.739 align:start position:0% talk about governance in many cases we 01:20:49.739 --> 01:20:52.580 align:start position:0% talk about governance in many cases we talk<01:20:50.460> much<01:20:50.820> more<01:20:50.849> about<01:20:51.090> this<01:20:51.510> and<01:20:51.900> this<01:20:52.199> so 01:20:52.580 --> 01:20:52.590 align:start position:0% talk much more about this and this so 01:20:52.590 --> 01:20:54.950 align:start position:0% talk much more about this and this so many<01:20:53.400> systems<01:20:53.790> have<01:20:53.849> modified<01:20:54.690> their 01:20:54.950 --> 01:20:54.960 align:start position:0% many systems have modified their 01:20:54.960 --> 01:20:57.020 align:start position:0% many systems have modified their governance<01:20:55.320> the<01:20:55.889> consensus<01:20:56.369> systems<01:20:56.760> over 01:20:57.020 --> 01:20:57.030 align:start position:0% governance the consensus systems over 01:20:57.030 --> 01:20:59.870 align:start position:0% governance the consensus systems over time<01:20:57.469> those<01:20:58.469> are<01:20:58.500> mostly<01:20:58.860> stapled<01:20:59.369> but<01:20:59.849> I 01:20:59.870 --> 01:20:59.880 align:start position:0% time those are mostly stapled but I 01:20:59.880 --> 01:21:01.609 align:start position:0% time those are mostly stapled but I think<01:21:00.150> we<01:21:00.210> should<01:21:00.239> most<01:21:00.659> experiment<01:21:01.320> also 01:21:01.609 --> 01:21:01.619 align:start position:0% think we should most experiment also 01:21:01.619 --> 01:21:05.120 align:start position:0% think we should most experiment also improving<01:21:02.340> a<01:21:02.460> little<01:21:02.610> time<01:21:03.530> for<01:21:04.530> guiding<01:21:04.889> tell 01:21:05.120 --> 01:21:05.130 align:start position:0% improving a little time for guiding tell 01:21:05.130 --> 01:21:08.240 align:start position:0% improving a little time for guiding tell us<01:21:05.250> governments<01:21:06.030> this<01:21:06.690> is<01:21:06.900> quite<01:21:07.710> interesting 01:21:08.240 --> 01:21:08.250 align:start position:0% us governments this is quite interesting 01:21:08.250 --> 01:21:14.080 align:start position:0% us governments this is quite interesting because<01:21:08.400> it<01:21:09.889> effects<01:21:10.889> the<01:21:11.070> long<01:21:11.250> this<01:21:11.820> time 01:21:14.080 --> 01:21:14.090 align:start position:0% because it effects the long this time 01:21:14.090 --> 01:21:17.569 align:start position:0% because it effects the long this time and<01:21:15.090> so<01:21:15.599> what<01:21:15.719> happens<01:21:16.139> is<01:21:16.320> that<01:21:17.070> there's<01:21:17.429> a 01:21:17.569 --> 01:21:17.579 align:start position:0% and so what happens is that there's a 01:21:17.579 --> 01:21:20.450 align:start position:0% and so what happens is that there's a tough<01:21:17.760> shell<01:21:18.409> which<01:21:19.409> you<01:21:19.530> can<01:21:19.739> imagine<01:21:19.949> that 01:21:20.450 --> 01:21:20.460 align:start position:0% tough shell which you can imagine that 01:21:20.460 --> 01:21:22.790 align:start position:0% tough shell which you can imagine that it's<01:21:21.000> a<01:21:21.179> local<01:21:21.540> thing<01:21:21.570> that<01:21:22.020> everyone<01:21:22.530> have 01:21:22.790 --> 01:21:22.800 align:start position:0% it's a local thing that everyone have 01:21:22.800 --> 01:21:27.379 align:start position:0% it's a local thing that everyone have their<01:21:22.920> own<01:21:22.980> version<01:21:23.429> of<01:21:23.929> and<01:21:25.460> it<01:21:26.460> as<01:21:26.670> important 01:21:27.379 --> 01:21:27.389 align:start position:0% their own version of and it as important 01:21:27.389 --> 01:21:32.510 align:start position:0% their own version of and it as important takes<01:21:27.630> some<01:21:28.260> protocol<01:21:30.860> where<01:21:31.860> the<01:21:32.010> protocol 01:21:32.510 --> 01:21:32.520 align:start position:0% takes some protocol where the protocol 01:21:32.520 --> 01:21:35.359 align:start position:0% takes some protocol where the protocol is<01:21:33.150> combination<01:21:33.829> consensus<01:21:34.829> and<01:21:34.949> economic 01:21:35.359 --> 01:21:35.369 align:start position:0% is combination consensus and economic 01:21:35.369 --> 01:21:38.209 align:start position:0% is combination consensus and economic kernel<01:21:36.050> and<01:21:37.050> this<01:21:37.320> protocol<01:21:37.679> is<01:21:37.860> written<01:21:38.190> on 01:21:38.209 --> 01:21:38.219 align:start position:0% kernel and this protocol is written on 01:21:38.219 --> 01:21:42.350 align:start position:0% kernel and this protocol is written on panel<01:21:38.579> and<01:21:39.170> what<01:21:40.170> that<01:21:40.380> happens<01:21:40.829> is<01:21:41.119> that<01:21:42.119> the 01:21:42.350 --> 01:21:42.360 align:start position:0% panel and what that happens is that the 01:21:42.360 --> 01:21:46.129 align:start position:0% panel and what that happens is that the note<01:21:42.630> will<01:21:43.139> Michelle<01:21:43.710> and<01:21:44.270> all<01:21:45.270> this<01:21:45.510> makes<01:21:45.810> a 01:21:46.129 --> 01:21:46.139 align:start position:0% note will Michelle and all this makes a 01:21:46.139 --> 01:21:48.700 align:start position:0% note will Michelle and all this makes a signal 01:21:48.700 --> 01:21:48.710 align:start position:0% signal 01:21:48.710 --> 01:21:52.220 align:start position:0% signal what<01:21:49.710> happens<01:21:50.040> is<01:21:50.220> that<01:21:50.420> the<01:21:51.420> shell<01:21:51.690> takes<01:21:52.080> a 01:21:52.220 --> 01:21:52.230 align:start position:0% what happens is that the shell takes a 01:21:52.230 --> 01:21:54.710 align:start position:0% what happens is that the shell takes a bunch<01:21:52.860> of<01:21:52.980> a<01:21:53.070> camel<01:21:53.400> sauce<01:21:53.580> files<01:21:53.850> and<01:21:54.180> that 01:21:54.710 --> 01:21:54.720 align:start position:0% bunch of a camel sauce files and that 01:21:54.720 --> 01:21:56.720 align:start position:0% bunch of a camel sauce files and that runs<01:21:54.990> the<01:21:55.230> restricted<01:21:55.830> subset<01:21:56.160> of<01:21:56.220> the<01:21:56.370> camel 01:21:56.720 --> 01:21:56.730 align:start position:0% runs the restricted subset of the camel 01:21:56.730 --> 01:22:00.950 align:start position:0% runs the restricted subset of the camel compiler<01:21:57.060> to<01:21:57.810> turn<01:21:58.710> the<01:21:59.370> protocol<01:22:00.300> into 01:22:00.950 --> 01:22:00.960 align:start position:0% compiler to turn the protocol into 01:22:00.960 --> 01:22:02.540 align:start position:0% compiler to turn the protocol into something<01:22:01.290> that<01:22:01.320> can<01:22:01.620> be<01:22:01.680> dynamically<01:22:02.160> linked 01:22:02.540 --> 01:22:02.550 align:start position:0% something that can be dynamically linked 01:22:02.550 --> 01:22:05.630 align:start position:0% something that can be dynamically linked into<01:22:02.820> the<01:22:02.850> run<01:22:03.150> itself<01:22:03.920> and<01:22:04.920> then<01:22:05.130> execute 01:22:05.630 --> 01:22:05.640 align:start position:0% into the run itself and then execute 01:22:05.640 --> 01:22:07.670 align:start position:0% into the run itself and then execute attendant<01:22:06.180> but<01:22:06.660> ever<01:22:06.930> shell<01:22:07.200> receives 01:22:07.670 --> 01:22:07.680 align:start position:0% attendant but ever shell receives 01:22:07.680 --> 01:22:09.350 align:start position:0% attendant but ever shell receives network<01:22:08.040> messages<01:22:08.460> from<01:22:08.580> other<01:22:08.790> peers<01:22:09.120> of 01:22:09.350 --> 01:22:09.360 align:start position:0% network messages from other peers of 01:22:09.360 --> 01:22:11.960 align:start position:0% network messages from other peers of Excel<01:22:09.630> blocks<01:22:10.080> in<01:22:10.290> transactions<01:22:10.860> and<01:22:11.160> drives 01:22:11.960 --> 01:22:11.970 align:start position:0% Excel blocks in transactions and drives 01:22:11.970 --> 01:22:14.120 align:start position:0% Excel blocks in transactions and drives the<01:22:12.390> single-threaded<01:22:13.140> state<01:22:13.680> machine<01:22:14.040> which 01:22:14.120 --> 01:22:14.130 align:start position:0% the single-threaded state machine which 01:22:14.130 --> 01:22:16.760 align:start position:0% the single-threaded state machine which is<01:22:14.310> the<01:22:14.460> protocol<01:22:14.930> the<01:22:15.930> cool<01:22:16.200> thing<01:22:16.440> here<01:22:16.470> is 01:22:16.760 --> 01:22:16.770 align:start position:0% is the protocol the cool thing here is 01:22:16.770 --> 01:22:18.770 align:start position:0% is the protocol the cool thing here is that<01:22:17.310> due<01:22:17.520> to<01:22:17.670> this<01:22:17.790> you<01:22:18.000> can<01:22:18.150> build<01:22:18.360> a<01:22:18.420> binding 01:22:18.770 --> 01:22:18.780 align:start position:0% that due to this you can build a binding 01:22:18.780 --> 01:22:21.830 align:start position:0% that due to this you can build a binding onto<01:22:18.930> a<01:22:19.050> governance<01:22:19.440> system<01:22:19.860> where<01:22:20.840> someone 01:22:21.830 --> 01:22:21.840 align:start position:0% onto a governance system where someone 01:22:21.840 --> 01:22:23.900 align:start position:0% onto a governance system where someone or<01:22:22.140> anyone<01:22:22.200> through<01:22:22.770> all<01:22:22.860> really<01:22:23.250> can<01:22:23.520> inject 01:22:23.900 --> 01:22:23.910 align:start position:0% or anyone through all really can inject 01:22:23.910 --> 01:22:26.690 align:start position:0% or anyone through all really can inject a<01:22:24.090> bunch<01:22:24.210> of<01:22:24.390> calluses<01:22:24.930> files<01:22:25.370> everyone<01:22:26.370> votes 01:22:26.690 --> 01:22:26.700 align:start position:0% a bunch of calluses files everyone votes 01:22:26.700 --> 01:22:29.660 align:start position:0% a bunch of calluses files everyone votes on<01:22:27.000> the<01:22:27.510> on<01:22:28.200> the<01:22:28.410> hash<01:22:28.620> of<01:22:28.890> those<01:22:29.070> sauce<01:22:29.340> files 01:22:29.660 --> 01:22:29.670 align:start position:0% on the on the hash of those sauce files 01:22:29.670 --> 01:22:32.870 align:start position:0% on the on the hash of those sauce files and<01:22:30.030> if<01:22:30.690> everyone<01:22:31.050> in<01:22:31.290> the<01:22:31.440> net<01:22:32.310> worth<01:22:32.520> enough 01:22:32.870 --> 01:22:32.880 align:start position:0% and if everyone in the net worth enough 01:22:32.880 --> 01:22:34.520 align:start position:0% and if everyone in the net worth enough people<01:22:33.360> whatever<01:22:33.720> your<01:22:34.020> acceptance<01:22:34.410> criteria 01:22:34.520 --> 01:22:34.530 align:start position:0% people whatever your acceptance criteria 01:22:34.530 --> 01:22:37.310 align:start position:0% people whatever your acceptance criteria is<01:22:34.980> and<01:22:35.390> take<01:22:36.390> we<01:22:36.480> talked<01:22:36.660> about<01:22:36.810> this<01:22:36.990> earlier 01:22:37.310 --> 01:22:37.320 align:start position:0% is and take we talked about this earlier 01:22:37.320 --> 01:22:41.270 align:start position:0% is and take we talked about this earlier agree<01:22:38.280> on<01:22:38.490> the<01:22:38.730> sauce<01:22:39.720> funds<01:22:40.020> the<01:22:40.650> know<01:22:40.920> that<01:22:41.250> a 01:22:41.270 --> 01:22:41.280 align:start position:0% agree on the sauce funds the know that a 01:22:41.280 --> 01:22:43.580 align:start position:0% agree on the sauce funds the know that a predefined<01:22:41.880> block<01:22:42.120> again<01:22:42.690> given<01:22:43.110> the<01:22:43.140> upgrade 01:22:43.580 --> 01:22:43.590 align:start position:0% predefined block again given the upgrade 01:22:43.590 --> 01:22:48.500 align:start position:0% predefined block again given the upgrade will<01:22:44.280> decide<01:22:44.870> so<01:22:45.870> the<01:22:46.380> shell<01:22:46.980> will<01:22:47.220> return<01:22:47.610> the 01:22:48.500 --> 01:22:48.510 align:start position:0% will decide so the shell will return the 01:22:48.510 --> 01:22:50.750 align:start position:0% will decide so the shell will return the protocol<01:22:48.990> over<01:22:49.230> time<01:22:49.440> this<01:22:49.980> at<01:22:50.280> the<01:22:50.460> next 01:22:50.750 --> 01:22:50.760 align:start position:0% protocol over time this at the next 01:22:50.760 --> 01:22:52.490 align:start position:0% protocol over time this at the next clock<01:22:50.970> which<01:22:51.330> should<01:22:51.510> be<01:22:51.660> using<01:22:51.870> a<01:22:52.110> neutral 01:22:52.490 --> 01:22:52.500 align:start position:0% clock which should be using a neutral 01:22:52.500 --> 01:22:56.000 align:start position:0% clock which should be using a neutral color<01:22:52.740> and<01:22:53.640> at<01:22:54.480> that<01:22:54.630> point<01:22:54.810> the<01:22:54.960> shell<01:22:55.230> will 01:22:56.000 --> 01:22:56.010 align:start position:0% color and at that point the shell will 01:22:56.010 --> 01:22:58.300 align:start position:0% color and at that point the shell will use<01:22:56.760> the<01:22:57.030> sources<01:22:57.420> that<01:22:57.450> it<01:22:57.720> currently<01:22:57.900> has 01:22:58.300 --> 01:22:58.310 align:start position:0% use the sources that it currently has 01:22:58.310 --> 01:23:00.350 align:start position:0% use the sources that it currently has compound<01:22:59.310> them<01:22:59.460> on<01:22:59.640> the<01:22:59.760> fly<01:22:59.970> and<01:23:00.300> then 01:23:00.350 --> 01:23:00.360 align:start position:0% compound them on the fly and then 01:23:00.360 --> 01:23:02.540 align:start position:0% compound them on the fly and then dynamically<01:23:01.140> linked<01:23:01.560> them<01:23:01.680> into<01:23:02.130> the<01:23:02.250> running 01:23:02.540 --> 01:23:02.550 align:start position:0% dynamically linked them into the running 01:23:02.550 --> 01:23:04.880 align:start position:0% dynamically linked them into the running binary<01:23:02.970> and<01:23:03.240> that<01:23:03.630> way<01:23:03.780> towards<01:23:04.470> camp<01:23:04.710> Red 01:23:04.880 --> 01:23:04.890 align:start position:0% binary and that way towards camp Red 01:23:04.890 --> 01:23:07.640 align:start position:0% binary and that way towards camp Red Cloud<01:23:05.120> is<01:23:06.120> to<01:23:06.300> infect<01:23:06.750> the<01:23:06.990> same<01:23:07.230> thing<01:23:07.470> with 01:23:07.640 --> 01:23:07.650 align:start position:0% Cloud is to infect the same thing with 01:23:07.650 --> 01:23:11.150 align:start position:0% Cloud is to infect the same thing with an<01:23:07.890> wasn't<01:23:08.400> where<01:23:09.120> people<01:23:10.110> vote<01:23:10.290> on<01:23:10.530> about 01:23:11.150 --> 01:23:11.160 align:start position:0% an wasn't where people vote on about 01:23:11.160 --> 01:23:13.910 align:start position:0% an wasn't where people vote on about what<01:23:11.460> code<01:23:11.790> and<01:23:12.000> them<01:23:12.120> know<01:23:12.630> dynamically 01:23:13.910 --> 01:23:13.920 align:start position:0% what code and them know dynamically 01:23:13.920 --> 01:23:16.850 align:start position:0% what code and them know dynamically will<01:23:14.280> switch<01:23:14.520> to<01:23:14.730> the<01:23:14.760> new<01:23:14.940> protocol<01:23:15.740> but<01:23:16.740> this 01:23:16.850 --> 01:23:16.860 align:start position:0% will switch to the new protocol but this 01:23:16.860 --> 01:23:18.200 align:start position:0% will switch to the new protocol but this is<01:23:17.010> how<01:23:17.130> you<01:23:17.190> get<01:23:17.310> binding<01:23:17.640> on<01:23:17.760> to<01:23:17.880> governance 01:23:18.200 --> 01:23:18.210 align:start position:0% is how you get binding on to governance 01:23:18.210 --> 01:23:20.480 align:start position:0% is how you get binding on to governance because<01:23:18.840> in<01:23:19.260> order<01:23:19.470> to<01:23:19.590> opt<01:23:19.950> out<01:23:20.160> of<01:23:20.220> this 01:23:20.480 --> 01:23:20.490 align:start position:0% because in order to opt out of this 01:23:20.490 --> 01:23:24.110 align:start position:0% because in order to opt out of this change<01:23:21.050> people<01:23:22.050> have<01:23:22.230> to<01:23:22.440> modify<01:23:22.770> the<01:23:23.760> shell 01:23:24.110 --> 01:23:24.120 align:start position:0% change people have to modify the shell 01:23:24.120 --> 01:23:29.210 align:start position:0% change people have to modify the shell and<01:23:27.020> then<01:23:28.020> they<01:23:28.200> can<01:23:28.350> say<01:23:28.500> well<01:23:28.710> like<01:23:29.010> the 01:23:29.210 --> 01:23:29.220 align:start position:0% and then they can say well like the 01:23:29.220 --> 01:23:30.560 align:start position:0% and then they can say well like the shell<01:23:29.400> should<01:23:29.640> not<01:23:29.850> great<01:23:30.090> to<01:23:30.240> the<01:23:30.390> steep 01:23:30.560 --> 01:23:30.570 align:start position:0% shell should not great to the steep 01:23:30.570 --> 01:23:33.230 align:start position:0% shell should not great to the steep vertical<01:23:30.720> but<01:23:31.410> the<01:23:31.530> thing<01:23:31.770> is<01:23:31.800> in<01:23:32.310> most<01:23:33.060> cases 01:23:33.230 --> 01:23:33.240 align:start position:0% vertical but the thing is in most cases 01:23:33.240 --> 01:23:36.410 align:start position:0% vertical but the thing is in most cases you<01:23:33.660> will<01:23:33.750> also<01:23:33.930> have<01:23:34.170> to<01:23:34.230> slap<01:23:34.770> a<01:23:35.420> significant 01:23:36.410 --> 01:23:36.420 align:start position:0% you will also have to slap a significant 01:23:36.420 --> 01:23:39.020 align:start position:0% you will also have to slap a significant percentage<01:23:36.900> of<01:23:37.050> your<01:23:37.200> total<01:23:37.800> us<01:23:38.220> because<01:23:38.850> what 01:23:39.020 --> 01:23:39.030 align:start position:0% percentage of your total us because what 01:23:39.030 --> 01:23:41.060 align:start position:0% percentage of your total us because what can<01:23:39.120> happen<01:23:39.180> is<01:23:39.570> that<01:23:39.630> say<01:23:39.990> you<01:23:40.530> don't<01:23:40.740> night 01:23:41.060 --> 01:23:41.070 align:start position:0% can happen is that say you don't night 01:23:41.070 --> 01:23:44.780 align:start position:0% can happen is that say you don't night version<01:23:41.850> a<01:23:42.180> like<01:23:42.990> critical<01:23:43.740> aid<01:23:43.920> which<01:23:44.400> is<01:23:44.430> the 01:23:44.780 --> 01:23:44.790 align:start position:0% version a like critical aid which is the 01:23:44.790 --> 01:23:49.940 align:start position:0% version a like critical aid which is the protocol<01:23:46.340> and<01:23:47.340> so<01:23:47.880> you'll<01:23:48.540> only<01:23:48.840> go<01:23:49.170> and<01:23:49.500> part 01:23:49.940 --> 01:23:49.950 align:start position:0% protocol and so you'll only go and part 01:23:49.950 --> 01:23:53.000 align:start position:0% protocol and so you'll only go and part by<01:23:50.130> this<01:23:50.190> and<01:23:50.520> you<01:23:50.670> now<01:23:50.820> have<01:23:51.470> only<01:23:52.470> four 01:23:53.000 --> 01:23:53.010 align:start position:0% by this and you now have only four 01:23:53.010 --> 01:23:54.780 align:start position:0% by this and you now have only four people<01:23:53.220> ten<01:23:53.670> percent<01:23:54.000> of<01:23:54.240> never 01:23:54.780 --> 01:23:54.790 align:start position:0% people ten percent of never 01:23:54.790 --> 01:23:57.120 align:start position:0% people ten percent of never this<01:23:55.120> but<01:23:55.690> you<01:23:55.780> did<01:23:55.930> modify<01:23:56.230> the<01:23:56.350> balances<01:23:56.860> on 01:23:57.120 --> 01:23:57.130 align:start position:0% this but you did modify the balances on 01:23:57.130 --> 01:24:00.270 align:start position:0% this but you did modify the balances on the<01:23:57.390> new<01:23:58.390> protocol<01:23:58.810> aid<01:23:59.110> and<01:23:59.440> you<01:23:59.590> can<01:23:59.800> anyone 01:24:00.270 --> 01:24:00.280 align:start position:0% the new protocol aid and you can anyone 01:24:00.280 --> 01:24:03.540 align:start position:0% the new protocol aid and you can anyone can<01:24:00.430> reject<01:24:01.140> what<01:24:02.140> the<01:24:02.980> community<01:24:03.340> wants<01:24:03.400> to 01:24:03.540 --> 01:24:03.550 align:start position:0% can reject what the community wants to 01:24:03.550 --> 01:24:05.310 align:start position:0% can reject what the community wants to upgrade<01:24:03.730> to<01:24:04.090> and<01:24:04.330> then<01:24:04.570> they<01:24:04.690> you<01:24:04.810> exactly<01:24:05.230> the 01:24:05.310 --> 01:24:05.320 align:start position:0% upgrade to and then they you exactly the 01:24:05.320 --> 01:24:07.980 align:start position:0% upgrade to and then they you exactly the same<01:24:05.380> vote<01:24:05.800> and<01:24:06.070> by<01:24:06.430> default<01:24:06.910> all<01:24:07.150> notes<01:24:07.630> again 01:24:07.980 --> 01:24:07.990 align:start position:0% same vote and by default all notes again 01:24:07.990 --> 01:24:10.230 align:start position:0% same vote and by default all notes again will<01:24:08.320> upgrade<01:24:08.500> to<01:24:09.190> view<01:24:09.400> photo<01:24:09.610> so<01:24:10.180> you 01:24:10.230 --> 01:24:10.240 align:start position:0% will upgrade to view photo so you 01:24:10.240 --> 01:24:12.150 align:start position:0% will upgrade to view photo so you effectively<01:24:10.360> either<01:24:11.080> have<01:24:11.320> to<01:24:11.410> cut<01:24:11.590> keep<01:24:11.950> hot 01:24:12.150 --> 01:24:12.160 align:start position:0% effectively either have to cut keep hot 01:24:12.160 --> 01:24:15.000 align:start position:0% effectively either have to cut keep hot forking<01:24:12.700> to<01:24:13.240> prevent<01:24:13.540> new<01:24:14.470> protocols<01:24:14.890> are 01:24:15.000 --> 01:24:15.010 align:start position:0% forking to prevent new protocols are 01:24:15.010 --> 01:24:17.760 align:start position:0% forking to prevent new protocols are being<01:24:15.040> injected<01:24:15.460> or<01:24:16.090> you<01:24:16.360> slash<01:24:16.690> 80%<01:24:17.380> token 01:24:17.760 --> 01:24:17.770 align:start position:0% being injected or you slash 80% token 01:24:17.770 --> 01:24:19.380 align:start position:0% being injected or you slash 80% token balances<01:24:18.220> of<01:24:18.550> the<01:24:18.610> people<01:24:19.180> that<01:24:19.300> actually 01:24:19.380 --> 01:24:19.390 align:start position:0% balances of the people that actually 01:24:19.390 --> 01:24:21.960 align:start position:0% balances of the people that actually want<01:24:19.690> the<01:24:19.870> new<01:24:19.990> change<01:24:20.400> this<01:24:21.400> is<01:24:21.610> why<01:24:21.760> all<01:24:21.790> of 01:24:21.960 --> 01:24:21.970 align:start position:0% want the new change this is why all of 01:24:21.970 --> 01:24:24.750 align:start position:0% want the new change this is why all of this<01:24:22.150> is<01:24:22.210> cool<01:24:22.540> and<01:24:23.190> that<01:24:24.190> many<01:24:24.430> different 01:24:24.750 --> 01:24:24.760 align:start position:0% this is cool and that many different 01:24:24.760 --> 01:24:26.280 align:start position:0% this is cool and that many different ways<01:24:24.850> to<01:24:24.970> implement<01:24:25.120> this<01:24:25.420> tells<01:24:25.840> you<01:24:26.050> this<01:24:26.230> is 01:24:26.280 --> 01:24:26.290 align:start position:0% ways to implement this tells you this is 01:24:26.290 --> 01:24:27.600 align:start position:0% ways to implement this tells you this is a<01:24:26.470> restricted<01:24:26.770> subset<01:24:27.190> of<01:24:27.250> the<01:24:27.370> account 01:24:27.600 --> 01:24:27.610 align:start position:0% a restricted subset of the account 01:24:27.610 --> 01:24:30.150 align:start position:0% a restricted subset of the account compiled<01:24:27.970> a<01:24:28.120> blocker<01:24:28.330> abilities<01:24:28.780> wasn't<01:24:29.230> as 01:24:30.150 --> 01:24:30.160 align:start position:0% compiled a blocker abilities wasn't as 01:24:30.160 --> 01:24:32.160 align:start position:0% compiled a blocker abilities wasn't as long<01:24:30.430> as<01:24:30.550> the<01:24:30.910> important<01:24:31.330> thing<01:24:31.450> has<01:24:32.020> to<01:24:32.140> be 01:24:32.160 --> 01:24:32.170 align:start position:0% long as the important thing has to be 01:24:32.170 --> 01:24:34.170 align:start position:0% long as the important thing has to be deterministic<01:24:32.710> and<01:24:33.160> properly<01:24:33.550> sandboxed 01:24:34.170 --> 01:24:34.180 align:start position:0% deterministic and properly sandboxed 01:24:34.180 --> 01:24:36.120 align:start position:0% deterministic and properly sandboxed because<01:24:34.720> otherwise<01:24:35.080> if<01:24:35.290> this<01:24:35.380> isn't<01:24:35.680> properly 01:24:36.120 --> 01:24:36.130 align:start position:0% because otherwise if this isn't properly 01:24:36.130 --> 01:24:37.560 align:start position:0% because otherwise if this isn't properly sandbox<01:24:36.580> you're<01:24:36.760> building<01:24:37.030> massive<01:24:37.390> plot 01:24:37.560 --> 01:24:37.570 align:start position:0% sandbox you're building massive plot 01:24:37.570 --> 01:24:39.990 align:start position:0% sandbox you're building massive plot that<01:24:37.720> where<01:24:38.680> anyone<01:24:39.010> can<01:24:39.100> upload<01:24:39.250> code<01:24:39.760> tune 01:24:39.990 --> 01:24:40.000 align:start position:0% that where anyone can upload code tune 01:24:40.000 --> 01:24:41.280 align:start position:0% that where anyone can upload code tune that<01:24:40.240> would<01:24:40.360> then<01:24:40.630> automatically<01:24:41.140> get 01:24:41.280 --> 01:24:41.290 align:start position:0% that would then automatically get 01:24:41.290 --> 01:24:43.260 align:start position:0% that would then automatically get executed<01:24:41.800> everyone's<01:24:42.160> machine<01:24:42.460> and<01:24:42.700> through 01:24:43.260 --> 01:24:43.270 align:start position:0% executed everyone's machine and through 01:24:43.270 --> 01:24:44.640 align:start position:0% executed everyone's machine and through a<01:24:43.300> stick<01:24:43.600> this<01:24:43.750> is<01:24:43.900> specifically<01:24:44.320> scary 01:24:44.640 --> 01:24:44.650 align:start position:0% a stick this is specifically scary 01:24:44.650 --> 01:24:46.530 align:start position:0% a stick this is specifically scary because<01:24:45.460> all<01:24:45.670> of<01:24:45.790> these<01:24:45.910> machines<01:24:46.090> fault 01:24:46.530 --> 01:24:46.540 align:start position:0% because all of these machines fault 01:24:46.540 --> 01:24:48.570 align:start position:0% because all of these machines fault hotkeys<01:24:47.050> that<01:24:47.410> are<01:24:47.500> using<01:24:47.830> content<01:24:48.130> designing 01:24:48.570 --> 01:24:48.580 align:start position:0% hotkeys that are using content designing 01:24:48.580 --> 01:24:50.310 align:start position:0% hotkeys that are using content designing and<01:24:48.730> kind<01:24:48.940> of<01:24:48.970> incur<01:24:49.270> significant<01:24:49.900> slashing 01:24:50.310 --> 01:24:50.320 align:start position:0% and kind of incur significant slashing 01:24:50.320 --> 01:24:53.400 align:start position:0% and kind of incur significant slashing analysis<01:24:50.680> if<01:24:51.040> they<01:24:51.520> were<01:24:51.670> compromised<01:24:52.410> yeah 01:24:53.400 --> 01:24:53.410 align:start position:0% analysis if they were compromised yeah 01:24:53.410 --> 01:24:55.590 align:start position:0% analysis if they were compromised yeah we<01:24:54.250> have<01:24:54.400> to<01:24:54.520> be<01:24:54.610> really<01:24:54.970> sure<01:24:55.150> that<01:24:55.180> code 01:24:55.590 --> 01:24:55.600 align:start position:0% we have to be really sure that code 01:24:55.600 --> 01:24:57.900 align:start position:0% we have to be really sure that code probably<01:24:56.350> sandbox<01:24:56.860> account<01:24:56.980> compiling<01:24:57.520> from 01:24:57.900 --> 01:24:57.910 align:start position:0% probably sandbox account compiling from 01:24:57.910 --> 01:25:00.690 align:start position:0% probably sandbox account compiling from the<01:24:58.060> sandbox<01:24:59.020> to<01:24:59.350> an<01:24:59.470> interpreter<01:25:00.160> for<01:25:00.370> all 01:25:00.690 --> 01:25:00.700 align:start position:0% the sandbox to an interpreter for all 01:25:00.700 --> 01:25:03.720 align:start position:0% the sandbox to an interpreter for all these<01:25:00.910> programs<01:25:02.430> cool 01:25:03.720 --> 01:25:03.730 align:start position:0% these programs cool 01:25:03.730 --> 01:25:07.040 align:start position:0% these programs cool without<01:25:04.300> this<01:25:04.960> is<01:25:05.140> a<01:25:05.170> quick<01:25:05.470> intro<01:25:05.770> to 01:25:07.040 --> 01:25:07.050 align:start position:0% without this is a quick intro to 01:25:07.050 --> 01:25:11.700 align:start position:0% without this is a quick intro to technical<01:25:08.050> spective<01:25:08.860> one<01:25:09.400> minute<01:25:10.440> all<01:25:11.440> right 01:25:11.700 --> 01:25:11.710 align:start position:0% technical spective one minute all right 01:25:11.710 --> 01:25:15.750 align:start position:0% technical spective one minute all right then<01:25:12.580> really<01:25:13.000> quickly<01:25:13.830> we<01:25:14.830> caught<01:25:15.040> this<01:25:15.280> so 01:25:15.750 --> 01:25:15.760 align:start position:0% then really quickly we caught this so 01:25:15.760 --> 01:25:20.090 align:start position:0% then really quickly we caught this so cosmos<01:25:16.300> goals 01:25:20.090 --> 01:25:20.100 align:start position:0% 01:25:20.100 --> 01:25:23.420 align:start position:0% [Music] 01:25:23.420 --> 01:25:23.430 align:start position:0% 01:25:23.430 --> 01:25:28.940 align:start position:0% new<01:25:24.330> whiteboard<01:25:24.510> series<01:25:27.110> so<01:25:28.110> there's<01:25:28.560> a<01:25:28.620> 40% 01:25:28.940 --> 01:25:28.950 align:start position:0% new whiteboard series so there's a 40% 01:25:28.950 --> 01:25:30.560 align:start position:0% new whiteboard series so there's a 40% form 01:25:30.560 --> 01:25:30.570 align:start position:0% form 01:25:30.570 --> 01:25:36.440 align:start position:0% form okay<01:25:31.470> for<01:25:31.950> example<01:25:32.630> and<01:25:33.890> strict<01:25:34.890> majority<01:25:35.450> so 01:25:36.440 --> 01:25:36.450 align:start position:0% okay for example and strict majority so 01:25:36.450 --> 01:25:48.830 align:start position:0% okay for example and strict majority so 50%<01:25:39.740> and<01:25:42.800> 33%<01:25:43.970> veto<01:25:44.970> power<01:25:47.540> as<01:25:48.540> quick 01:25:48.830 --> 01:25:48.840 align:start position:0% 50% and 33% veto power as quick 01:25:48.840 --> 01:25:51.410 align:start position:0% 50% and 33% veto power as quick explanation<01:25:49.110> it<01:25:49.890> means<01:25:50.190> so<01:25:50.670> cos<01:25:50.940> the<01:25:51.270> weight 01:25:51.410 --> 01:25:51.420 align:start position:0% explanation it means so cos the weight 01:25:51.420 --> 01:25:51.770 align:start position:0% explanation it means so cos the weight works 01:25:51.770 --> 01:25:51.780 align:start position:0% works 01:25:51.780 --> 01:25:53.870 align:start position:0% works it's<01:25:51.960> a<01:25:52.050> signaling<01:25:52.500> process<01:25:52.890> signals<01:25:53.250> Gannett 01:25:53.870 --> 01:25:53.880 align:start position:0% it's a signaling process signals Gannett 01:25:53.880 --> 01:25:55.790 align:start position:0% it's a signaling process signals Gannett system<01:25:54.300> why<01:25:54.900> anyone<01:25:55.260> in<01:25:55.380> the<01:25:55.500> world<01:25:55.590> can 01:25:55.790 --> 01:25:55.800 align:start position:0% system why anyone in the world can 01:25:55.800 --> 01:25:58.310 align:start position:0% system why anyone in the world can upload<01:25:56.100> a<01:25:56.370> text<01:25:56.640> proposal<01:25:57.180> needs<01:25:57.750> to<01:25:57.960> pay<01:25:58.110> five 01:25:58.310 --> 01:25:58.320 align:start position:0% upload a text proposal needs to pay five 01:25:58.320 --> 01:26:00.470 align:start position:0% upload a text proposal needs to pay five from<01:25:58.500> 12<01:25:58.740> atoms<01:25:59.130> as<01:25:59.280> the<01:25:59.400> deposit<01:25:59.820> this<01:26:00.300> is<01:26:00.420> to 01:26:00.470 --> 01:26:00.480 align:start position:0% from 12 atoms as the deposit this is to 01:26:00.480 --> 01:26:02.270 align:start position:0% from 12 atoms as the deposit this is to prevent<01:26:00.720> spam<01:26:01.050> but<01:26:01.770> once<01:26:01.950> they've<01:26:02.100> uploaded 01:26:02.270 --> 01:26:02.280 align:start position:0% prevent spam but once they've uploaded 01:26:02.280 --> 01:26:06.260 align:start position:0% prevent spam but once they've uploaded any<01:26:03.150> one<01:26:03.420> can<01:26:03.890> all<01:26:04.890> the<01:26:05.190> values<01:26:05.700> can<01:26:05.910> build<01:26:06.150> on 01:26:06.260 --> 01:26:06.270 align:start position:0% any one can all the values can build on 01:26:06.270 --> 01:26:08.450 align:start position:0% any one can all the values can build on it<01:26:06.300> and<01:26:06.600> hopefully<01:26:07.290> delegate<01:26:08.130> us<01:26:08.250> can 01:26:08.450 --> 01:26:08.460 align:start position:0% it and hopefully delegate us can 01:26:08.460 --> 01:26:10.730 align:start position:0% it and hopefully delegate us can override<01:26:08.940> the<01:26:09.090> balanced<01:26:09.540> choice<01:26:09.900> but<01:26:10.560> by 01:26:10.730 --> 01:26:10.740 align:start position:0% override the balanced choice but by 01:26:10.740 --> 01:26:13.010 align:start position:0% override the balanced choice but by default<01:26:11.160> they<01:26:11.340> inherited<01:26:11.760> so<01:26:12.360> it<01:26:12.480> means<01:26:12.630> that 01:26:13.010 --> 01:26:13.020 align:start position:0% default they inherited so it means that 01:26:13.020 --> 01:26:14.750 align:start position:0% default they inherited so it means that if<01:26:13.320> you<01:26:13.590> want<01:26:13.830> to<01:26:13.980> delegate<01:26:14.310> your<01:26:14.370> voting 01:26:14.750 --> 01:26:14.760 align:start position:0% if you want to delegate your voting 01:26:14.760 --> 01:26:16.460 align:start position:0% if you want to delegate your voting power<01:26:14.910> to<01:26:15.150> felled<01:26:15.570> it<01:26:15.750> or<01:26:15.840> you<01:26:15.900> can<01:26:16.170> but<01:26:16.350> if<01:26:16.440> you 01:26:16.460 --> 01:26:16.470 align:start position:0% power to felled it or you can but if you 01:26:16.470 --> 01:26:17.960 align:start position:0% power to felled it or you can but if you validate<01:26:16.920> them<01:26:17.130> does<01:26:17.280> something<01:26:17.310> batshit 01:26:17.960 --> 01:26:17.970 align:start position:0% validate them does something batshit 01:26:17.970 --> 01:26:18.590 align:start position:0% validate them does something batshit insane 01:26:18.590 --> 01:26:18.600 align:start position:0% insane 01:26:18.600 --> 01:26:21.770 align:start position:0% insane you<01:26:18.930> can<01:26:19.080> overwrite<01:26:19.470> this<01:26:19.620> to<01:26:19.770> say<01:26:20.570> in<01:26:21.570> order 01:26:21.770 --> 01:26:21.780 align:start position:0% you can overwrite this to say in order 01:26:21.780 --> 01:26:25.210 align:start position:0% you can overwrite this to say in order to<01:26:22.530> be<01:26:22.590> valid<01:26:22.710> it<01:26:23.040> needs<01:26:23.220> to<01:26:23.370> have<01:26:23.580> for<01:26:23.850> 20%<01:26:24.210> and 01:26:25.210 --> 01:26:25.220 align:start position:0% to be valid it needs to have for 20% and 01:26:25.220 --> 01:26:29.480 align:start position:0% to be valid it needs to have for 20% and of<01:26:26.220> those<01:26:26.490> 40%<01:26:27.180> at<01:26:27.420> least<01:26:27.960> 50%<01:26:28.530> at<01:26:29.070> least<01:26:29.250> half 01:26:29.480 --> 01:26:29.490 align:start position:0% of those 40% at least 50% at least half 01:26:29.490 --> 01:26:31.850 align:start position:0% of those 40% at least 50% at least half the<01:26:29.520> audience<01:26:29.940> not<01:26:30.930> half<01:26:31.170> forecast<01:26:31.620> and<01:26:31.830> that 01:26:31.850 --> 01:26:31.860 align:start position:0% the audience not half forecast and that 01:26:31.860 --> 01:26:35.090 align:start position:0% the audience not half forecast and that is<01:26:31.980> rejected<01:26:32.250> and<01:26:33.240> if<01:26:34.140> partly<01:26:34.380> if<01:26:34.590> something 01:26:35.090 --> 01:26:35.100 align:start position:0% is rejected and if partly if something 01:26:35.100 --> 01:26:37.370 align:start position:0% is rejected and if partly if something is<01:26:35.190> rejected<01:26:35.790> do<01:26:36.600> not<01:26:36.750> get<01:26:36.960> you<01:26:37.110> to<01:26:37.230> college 01:26:37.370 --> 01:26:37.380 align:start position:0% is rejected do not get you to college 01:26:37.380 --> 01:26:39.980 align:start position:0% is rejected do not get you to college mark<01:26:37.680> as<01:26:38.010> he<01:26:38.820> just<01:26:39.060> felt<01:26:39.270> like<01:26:39.450> one<01:26:39.690> and<01:26:39.810> a<01:26:39.870> half 01:26:39.980 --> 01:26:39.990 align:start position:0% mark as he just felt like one and a half 01:26:39.990 --> 01:26:41.830 align:start position:0% mark as he just felt like one and a half thousand<01:26:40.350> dollars<01:26:40.440> if<01:26:40.950> that<01:26:41.100> happens<01:26:41.460> and 01:26:41.830 --> 01:26:41.840 align:start position:0% thousand dollars if that happens and 01:26:41.840 --> 01:26:46.160 align:start position:0% thousand dollars if that happens and also<01:26:42.950> due<01:26:43.950> to<01:26:43.980> the<01:26:44.160> way<01:26:44.430> est<01:26:45.030> works<01:26:45.270> if<01:26:45.570> more 01:26:46.160 --> 01:26:46.170 align:start position:0% also due to the way est works if more 01:26:46.170 --> 01:26:50.200 align:start position:0% also due to the way est works if more than<01:26:46.200> a<01:26:46.410> third<01:26:46.680> ever<01:26:47.040> vote<01:26:47.310> no<01:26:47.640> oh<01:26:48.350> no<01:26:49.350> we<01:26:49.500> don't 01:26:50.200 --> 01:26:50.210 align:start position:0% than a third ever vote no oh no we don't 01:26:50.210 --> 01:26:52.850 align:start position:0% than a third ever vote no oh no we don't everything<01:26:51.210> it<01:26:51.510> won't<01:26:51.900> get<01:26:52.110> accepted<01:26:52.530> by<01:26:52.680> them 01:26:52.850 --> 01:26:52.860 align:start position:0% everything it won't get accepted by them 01:26:52.860 --> 01:26:55.640 align:start position:0% everything it won't get accepted by them because<01:26:52.950> in<01:26:53.610> either<01:26:53.910> case<01:26:54.330> if<01:26:54.720> one<01:26:55.410> third<01:26:55.620> of 01:26:55.640 --> 01:26:55.650 align:start position:0% because in either case if one third of 01:26:55.650 --> 01:26:56.960 align:start position:0% because in either case if one third of the<01:26:55.770> network<01:26:56.040> doesn't<01:26:56.370> like<01:26:56.490> something<01:26:56.850> they 01:26:56.960 --> 01:26:56.970 align:start position:0% the network doesn't like something they 01:26:56.970 --> 01:26:59.360 align:start position:0% the network doesn't like something they can<01:26:57.150> always<01:26:57.360> fault<01:26:57.660> the<01:26:57.780> chain<01:26:58.070> so<01:26:59.070> this<01:26:59.190> is 01:26:59.360 --> 01:26:59.370 align:start position:0% can always fault the chain so this is 01:26:59.370 --> 01:27:02.890 align:start position:0% can always fault the chain so this is why<01:26:59.700> there's<01:26:59.970> a<01:27:00.060> no<01:27:00.510> veto<01:27:00.960> threshold<01:27:01.590> here<01:27:01.770> all 01:27:02.890 --> 01:27:02.900 align:start position:0% why there's a no veto threshold here all 01:27:02.900 --> 01:27:06.560 align:start position:0% why there's a no veto threshold here all right<01:27:03.900> then<01:27:04.410> yeah<01:27:05.160> the<01:27:06.030> cool<01:27:06.300> thing<01:27:06.510> about 01:27:06.560 --> 01:27:06.570 align:start position:0% right then yeah the cool thing about 01:27:06.570 --> 01:27:08.870 align:start position:0% right then yeah the cool thing about having<01:27:06.750> signalling<01:27:07.410> proposals<01:27:07.920> is<01:27:08.250> it<01:27:08.640> kind 01:27:08.870 --> 01:27:08.880 align:start position:0% having signalling proposals is it kind 01:27:08.880 --> 01:27:11.330 align:start position:0% having signalling proposals is it kind of<01:27:08.940> many<01:27:09.270> of<01:27:09.420> the<01:27:09.510> same<01:27:09.690> time<01:27:09.930> so<01:27:10.410> do<01:27:10.620> these 01:27:11.330 --> 01:27:11.340 align:start position:0% of many of the same time so do these 01:27:11.340 --> 01:27:12.950 align:start position:0% of many of the same time so do these kind<01:27:11.640> of<01:27:11.670> governance<01:27:12.030> upgrade<01:27:12.420> binding<01:27:12.810> on 01:27:12.950 --> 01:27:12.960 align:start position:0% kind of governance upgrade binding on 01:27:12.960 --> 01:27:14.150 align:start position:0% kind of governance upgrade binding on Czech<01:27:13.140> government<01:27:13.260> operates<01:27:13.800> very<01:27:13.890> voter 01:27:14.150 --> 01:27:14.160 align:start position:0% Czech government operates very voter 01:27:14.160 --> 01:27:15.440 align:start position:0% Czech government operates very voter code<01:27:14.490> you<01:27:14.670> can't<01:27:14.880> have<01:27:15.030> many<01:27:15.210> at<01:27:15.330> the<01:27:15.420> same 01:27:15.440 --> 01:27:15.450 align:start position:0% code you can't have many at the same 01:27:15.450 --> 01:27:18.080 align:start position:0% code you can't have many at the same time<01:27:15.870> because<01:27:16.380> it<01:27:17.370> is<01:27:17.490> incredibly<01:27:18.000> difficult 01:27:18.080 --> 01:27:18.090 align:start position:0% time because it is incredibly difficult 01:27:18.090 --> 01:27:20.270 align:start position:0% time because it is incredibly difficult to<01:27:18.510> figure<01:27:18.720> out<01:27:18.840> how<01:27:19.020> you<01:27:19.080> merge<01:27:19.500> two<01:27:19.770> distinct 01:27:20.270 --> 01:27:20.280 align:start position:0% to figure out how you merge two distinct 01:27:20.280 --> 01:27:22.880 align:start position:0% to figure out how you merge two distinct code<01:27:20.610> bases<01:27:21.390> into<01:27:21.960> each<01:27:22.200> other<01:27:22.380> to<01:27:22.560> form<01:27:22.710> over 01:27:22.880 --> 01:27:22.890 align:start position:0% code bases into each other to form over 01:27:22.890 --> 01:27:24.350 align:start position:0% code bases into each other to form over here<01:27:22.950> in<01:27:23.190> protocol<01:27:23.550> that<01:27:23.700> still<01:27:24.000> maintains 01:27:24.350 --> 01:27:24.360 align:start position:0% here in protocol that still maintains 01:27:24.360 --> 01:27:26.540 align:start position:0% here in protocol that still maintains properties<01:27:24.840> like<01:27:25.530> the<01:27:25.680> design<01:27:25.980> properties<01:27:26.310> of 01:27:26.540 --> 01:27:26.550 align:start position:0% properties like the design properties of 01:27:26.550 --> 01:27:28.750 align:start position:0% properties like the design properties of either<01:27:26.760> so<01:27:27.300> the<01:27:27.570> same<01:27:27.810> MO 01:27:28.750 --> 01:27:28.760 align:start position:0% either so the same MO 01:27:28.760 --> 01:27:31.629 align:start position:0% either so the same MO many<01:27:28.940> fun<01:27:29.119> at<01:27:29.300> the<01:27:29.360> same<01:27:29.510> time<01:27:30.039> the<01:27:31.039> deposit 01:27:31.629 --> 01:27:31.639 align:start position:0% many fun at the same time the deposit 01:27:31.639 --> 01:27:33.640 align:start position:0% many fun at the same time the deposit face<01:27:31.849> runs<01:27:32.179> for<01:27:32.420> two<01:27:32.539> weeks<01:27:32.780> and<01:27:33.050> afterwards 01:27:33.640 --> 01:27:33.650 align:start position:0% face runs for two weeks and afterwards 01:27:33.650 --> 01:27:35.439 align:start position:0% face runs for two weeks and afterwards the<01:27:33.889> voting<01:27:34.519> phase<01:27:34.730> run<01:27:34.940> to<01:27:35.030> another<01:27:35.119> two 01:27:35.439 --> 01:27:35.449 align:start position:0% the voting phase run to another two 01:27:35.449 --> 01:27:35.919 align:start position:0% the voting phase run to another two weeks 01:27:35.919 --> 01:27:35.929 align:start position:0% weeks 01:27:35.929 --> 01:27:38.830 align:start position:0% weeks the<01:27:36.860> downside<01:27:37.429> is<01:27:37.610> it's<01:27:37.909> very<01:27:37.969> clear<01:27:38.630> what 01:27:38.830 --> 01:27:38.840 align:start position:0% the downside is it's very clear what 01:27:38.840 --> 01:27:41.470 align:start position:0% the downside is it's very clear what couldn't<01:27:39.170> happen<01:27:39.369> after<01:27:40.369> vote<01:27:41.119> has<01:27:41.329> been 01:27:41.470 --> 01:27:41.480 align:start position:0% couldn't happen after vote has been 01:27:41.480 --> 01:27:43.029 align:start position:0% couldn't happen after vote has been successful<01:27:41.989> right<01:27:42.199> because<01:27:42.469> we<01:27:43.010> don't 01:27:43.029 --> 01:27:43.039 align:start position:0% successful right because we don't 01:27:43.039 --> 01:27:45.220 align:start position:0% successful right because we don't actually<01:27:43.340> know<01:27:43.579> the<01:27:43.789> specifics<01:27:44.360> so<01:27:44.960> due<01:27:45.199> to 01:27:45.220 --> 01:27:45.230 align:start position:0% actually know the specifics so due to 01:27:45.230 --> 01:27:48.490 align:start position:0% actually know the specifics so due to this<01:27:45.500> the<01:27:46.250> way<01:27:46.460> you<01:27:46.940> upgrade<01:27:47.719> the<01:27:47.750> code<01:27:48.289> bits 01:27:48.490 --> 01:27:48.500 align:start position:0% this the way you upgrade the code bits 01:27:48.500 --> 01:27:50.229 align:start position:0% this the way you upgrade the code bits of<01:27:48.650> the<01:27:48.739> cosmos<01:27:49.070> up<01:27:49.219> is<01:27:49.369> that<01:27:49.519> you<01:27:49.670> first<01:27:49.909> had 01:27:50.229 --> 01:27:50.239 align:start position:0% of the cosmos up is that you first had 01:27:50.239 --> 01:27:52.750 align:start position:0% of the cosmos up is that you first had bunch<01:27:50.510> of<01:27:50.659> votes<01:27:51.079> on<01:27:51.380> we<01:27:52.099> want<01:27:52.309> these<01:27:52.489> new 01:27:52.750 --> 01:27:52.760 align:start position:0% bunch of votes on we want these new 01:27:52.760 --> 01:27:54.609 align:start position:0% bunch of votes on we want these new features<01:27:52.969> and<01:27:53.389> then<01:27:53.570> hopefully<01:27:54.079> someone 01:27:54.609 --> 01:27:54.619 align:start position:0% features and then hopefully someone 01:27:54.619 --> 01:27:57.009 align:start position:0% features and then hopefully someone builds<01:27:54.949> those<01:27:55.159> new<01:27:55.340> features<01:27:55.519> and<01:27:56.360> afterwards 01:27:57.009 --> 01:27:57.019 align:start position:0% builds those new features and afterwards 01:27:57.019 --> 01:27:59.109 align:start position:0% builds those new features and afterwards you<01:27:57.530> have<01:27:57.650> a<01:27:57.679> secondary<01:27:58.159> vote<01:27:58.460> but<01:27:58.760> where<01:27:59.030> you 01:27:59.109 --> 01:27:59.119 align:start position:0% you have a secondary vote but where you 01:27:59.119 --> 01:28:01.390 align:start position:0% you have a secondary vote but where you vote<01:27:59.329> on<01:27:59.360> the<01:27:59.599> specific<01:28:00.139> half<01:28:00.710> of<01:28:01.039> the<01:28:01.190> code 01:28:01.390 --> 01:28:01.400 align:start position:0% vote on the specific half of the code 01:28:01.400 --> 01:28:04.089 align:start position:0% vote on the specific half of the code that<01:28:01.550> you<01:28:01.670> wanna<01:28:01.820> run<01:28:02.000> and<01:28:02.710> if<01:28:03.710> you<01:28:03.889> find 01:28:04.089 --> 01:28:04.099 align:start position:0% that you wanna run and if you find 01:28:04.099 --> 01:28:06.310 align:start position:0% that you wanna run and if you find cousins<01:28:04.489> governments<01:28:04.849> at<01:28:04.940> all<01:28:05.059> this<01:28:05.719> was<01:28:06.050> the 01:28:06.310 --> 01:28:06.320 align:start position:0% cousins governments at all this was the 01:28:06.320 --> 01:28:09.910 align:start position:0% cousins governments at all this was the very<01:28:07.269> I<01:28:08.269> don't<01:28:09.079> want<01:28:09.199> to<01:28:09.289> say<01:28:09.349> funny<01:28:09.559> I<01:28:09.619> spent 01:28:09.910 --> 01:28:09.920 align:start position:0% very I don't want to say funny I spent 01:28:09.920 --> 01:28:12.299 align:start position:0% very I don't want to say funny I spent like<01:28:10.070> six<01:28:10.280> hours<01:28:10.429> sitting<01:28:10.699> in<01:28:10.880> audience 01:28:12.299 --> 01:28:12.309 align:start position:0% like six hours sitting in audience 01:28:12.309 --> 01:28:14.589 align:start position:0% like six hours sitting in audience anyway<01:28:13.309> there<01:28:13.519> wasn't<01:28:13.789> vote<01:28:13.940> for<01:28:14.239> the<01:28:14.329> cousin 01:28:14.589 --> 01:28:14.599 align:start position:0% anyway there wasn't vote for the cousin 01:28:14.599 --> 01:28:17.560 align:start position:0% anyway there wasn't vote for the cousin seventh<01:28:14.900> grade<01:28:15.079> which<01:28:15.829> turns<01:28:16.340> out<01:28:16.570> wasn't 01:28:17.560 --> 01:28:17.570 align:start position:0% seventh grade which turns out wasn't 01:28:17.570 --> 01:28:19.149 align:start position:0% seventh grade which turns out wasn't properly<01:28:17.960> tested<01:28:18.380> the<01:28:18.500> migration<01:28:18.889> procedure 01:28:19.149 --> 01:28:19.159 align:start position:0% properly tested the migration procedure 01:28:19.159 --> 01:28:23.290 align:start position:0% properly tested the migration procedure was<01:28:19.400> probably<01:28:19.699> tested<01:28:20.150> and<01:28:20.329> due<01:28:21.019> to<01:28:21.050> that<01:28:22.300> the 01:28:23.290 --> 01:28:23.300 align:start position:0% was probably tested and due to that the 01:28:23.300 --> 01:28:24.729 align:start position:0% was probably tested and due to that the new<01:28:23.480> constant<01:28:23.960> of<01:28:24.050> three<01:28:24.320> didn't<01:28:24.619> actually 01:28:24.729 --> 01:28:24.739 align:start position:0% new constant of three didn't actually 01:28:24.739 --> 01:28:26.560 align:start position:0% new constant of three didn't actually start<01:28:25.130> and<01:28:25.429> so<01:28:25.880> we<01:28:25.969> had<01:28:26.090> to<01:28:26.119> roll<01:28:26.360> back<01:28:26.539> to 01:28:26.560 --> 01:28:26.570 align:start position:0% start and so we had to roll back to 01:28:26.570 --> 01:28:29.109 align:start position:0% start and so we had to roll back to cosmos<01:28:26.989> up<01:28:27.139> to<01:28:27.320> this<01:28:27.500> cost<01:28:27.800> down<01:28:28.369> to<01:28:28.429> two<01:28:28.940> hours 01:28:29.109 --> 01:28:29.119 align:start position:0% cosmos up to this cost down to two hours 01:28:29.119 --> 01:28:31.419 align:start position:0% cosmos up to this cost down to two hours at<01:28:29.389> mass<01:28:29.570> months<01:28:29.900> confusing<01:28:30.469> I<01:28:30.650> was<01:28:30.980> very<01:28:31.159> sad 01:28:31.419 --> 01:28:31.429 align:start position:0% at mass months confusing I was very sad 01:28:31.429 --> 01:28:33.040 align:start position:0% at mass months confusing I was very sad as<01:28:31.670> I<01:28:31.789> said<01:28:32.000> it<01:28:32.090> very<01:28:32.420> loudly<01:28:32.630> that's<01:28:32.900> in<01:28:33.019> a 01:28:33.040 --> 01:28:33.050 align:start position:0% as I said it very loudly that's in a 01:28:33.050 --> 01:28:35.080 align:start position:0% as I said it very loudly that's in a cage<01:28:33.289> for<01:28:33.500> six<01:28:33.710> hours<01:28:33.860> while<01:28:34.610> trying<01:28:35.000> to 01:28:35.080 --> 01:28:35.090 align:start position:0% cage for six hours while trying to 01:28:35.090 --> 01:28:38.290 align:start position:0% cage for six hours while trying to figure<01:28:35.239> out<01:28:35.360> what<01:28:35.599> to<01:28:35.690> do<01:28:35.840> that<01:28:36.190> so<01:28:37.190> in<01:28:38.030> my 01:28:38.290 --> 01:28:38.300 align:start position:0% figure out what to do that so in my 01:28:38.300 --> 01:28:41.049 align:start position:0% figure out what to do that so in my opinion<01:28:39.340> honestly<01:28:40.340> some<01:28:40.849> of<01:28:40.880> the<01:28:40.969> best 01:28:41.049 --> 01:28:41.059 align:start position:0% opinion honestly some of the best 01:28:41.059 --> 01:28:43.450 align:start position:0% opinion honestly some of the best government<01:28:41.510> models<01:28:41.900> will<01:28:42.050> combine<01:28:42.409> both<01:28:42.650> so 01:28:43.450 --> 01:28:43.460 align:start position:0% government models will combine both so 01:28:43.460 --> 01:28:44.830 align:start position:0% government models will combine both so you<01:28:43.519> will<01:28:43.849> have<01:28:43.969> some<01:28:44.239> sort<01:28:44.269> of<01:28:44.449> signaling 01:28:44.830 --> 01:28:44.840 align:start position:0% you will have some sort of signaling 01:28:44.840 --> 01:28:46.810 align:start position:0% you will have some sort of signaling proposal<01:28:45.289> proposals<01:28:46.280> because<01:28:46.400> it<01:28:46.639> allows 01:28:46.810 --> 01:28:46.820 align:start position:0% proposal proposals because it allows 01:28:46.820 --> 01:28:48.339 align:start position:0% proposal proposals because it allows error<01:28:47.150> in<01:28:47.300> the<01:28:47.389> community<01:28:47.809> to<01:28:47.960> have<01:28:48.199> a<01:28:48.260> voice 01:28:48.339 --> 01:28:48.349 align:start position:0% error in the community to have a voice 01:28:48.349 --> 01:28:52.330 align:start position:0% error in the community to have a voice to<01:28:48.789> suggest<01:28:49.789> changes<01:28:50.360> to<01:28:50.590> get<01:28:51.590> ideas<01:28:52.219> of 01:28:52.330 --> 01:28:52.340 align:start position:0% to suggest changes to get ideas of 01:28:52.340 --> 01:28:54.189 align:start position:0% to suggest changes to get ideas of high-level<01:28:53.150> goals<01:28:53.539> that<01:28:53.840> you<01:28:53.960> want<01:28:54.110> to 01:28:54.189 --> 01:28:54.199 align:start position:0% high-level goals that you want to 01:28:54.199 --> 01:28:55.930 align:start position:0% high-level goals that you want to achieve<01:28:54.289> right<01:28:54.679> like<01:28:54.920> do<01:28:55.099> we<01:28:55.219> want<01:28:55.250> a<01:28:55.670> picture 01:28:55.930 --> 01:28:55.940 align:start position:0% achieve right like do we want a picture 01:28:55.940 --> 01:28:58.660 align:start position:0% achieve right like do we want a picture wasn't<01:28:56.269> do<01:28:56.570> we<01:28:56.719> want<01:28:57.050> to<01:28:57.230> have<01:28:57.889> any<01:28:58.099> consensus 01:28:58.660 --> 01:28:58.670 align:start position:0% wasn't do we want to have any consensus 01:28:58.670 --> 01:29:01.000 align:start position:0% wasn't do we want to have any consensus mechanism<01:28:59.090> is<01:28:59.179> how<01:28:59.329> do<01:28:59.389> we<01:28:59.599> remember<01:28:59.780> one<01:29:00.139> and 01:29:01.000 --> 01:29:01.010 align:start position:0% mechanism is how do we remember one and 01:29:01.010 --> 01:29:04.149 align:start position:0% mechanism is how do we remember one and once<01:29:01.219> you<01:29:01.369> saw<01:29:02.239> a<01:29:02.269> broad<01:29:02.630> concept<01:29:02.929> are<01:29:03.380> drawn 01:29:04.149 --> 01:29:04.159 align:start position:0% once you saw a broad concept are drawn 01:29:04.159 --> 01:29:06.580 align:start position:0% once you saw a broad concept are drawn agreement<01:29:04.730> over<01:29:04.940> where<01:29:05.480> you<01:29:05.570> want<01:29:05.750> to<01:29:05.809> go<01:29:05.960> then 01:29:06.580 --> 01:29:06.590 align:start position:0% agreement over where you want to go then 01:29:06.590 --> 01:29:08.529 align:start position:0% agreement over where you want to go then someone<01:29:06.949> builds<01:29:07.309> it<01:29:07.429> and<01:29:07.639> once<01:29:07.969> they've<01:29:08.210> build 01:29:08.529 --> 01:29:08.539 align:start position:0% someone builds it and once they've build 01:29:08.539 --> 01:29:10.149 align:start position:0% someone builds it and once they've build it<01:29:08.750> vote<01:29:09.019> on<01:29:09.050> the<01:29:09.260> space<01:29:09.469> specific 01:29:10.149 --> 01:29:10.159 align:start position:0% it vote on the space specific 01:29:10.159 --> 01:29:12.279 align:start position:0% it vote on the space specific implementation<01:29:10.909> so<01:29:11.510> ever<01:29:11.809> on<01:29:11.929> increase 01:29:12.279 --> 01:29:12.289 align:start position:0% implementation so ever on increase 01:29:12.289 --> 01:29:18.359 align:start position:0% implementation so ever on increase everyone<01:29:12.739> upgrades<01:29:13.219> to<01:29:13.429> it<01:29:13.489> automatically 01:29:18.359 --> 01:29:18.369 align:start position:0% 01:29:18.369 --> 01:29:20.500 align:start position:0% yes<01:29:19.400> okay<01:29:19.880> cool 01:29:20.500 --> 01:29:20.510 align:start position:0% yes okay cool 01:29:20.510 --> 01:29:22.149 align:start position:0% yes okay cool I<01:29:20.539> think<01:29:20.840> I<01:29:20.869> counted<01:29:21.050> most<01:29:21.380> of<01:29:21.590> the<01:29:21.650> points<01:29:22.010> and 01:29:22.149 --> 01:29:22.159 align:start position:0% I think I counted most of the points and 01:29:22.159 --> 01:29:24.129 align:start position:0% I think I counted most of the points and only<01:29:22.610> thinking<01:29:23.329> like<01:29:23.510> five<01:29:23.719> minutes<01:29:23.900> all 01:29:24.129 --> 01:29:24.139 align:start position:0% only thinking like five minutes all 01:29:24.139 --> 01:29:25.660 align:start position:0% only thinking like five minutes all about<01:29:24.260> the<01:29:24.349> thing<01:29:24.500> so<01:29:24.949> thank<01:29:25.250> you<01:29:25.309> very<01:29:25.429> much 01:29:25.660 --> 01:29:25.670 align:start position:0% about the thing so thank you very much 01:29:25.670 --> 01:29:27.339 align:start position:0% about the thing so thank you very much I'll<01:29:25.849> be<01:29:25.969> around<01:29:26.030> later<01:29:26.389> if<01:29:26.929> you<01:29:27.110> have<01:29:27.139> any 01:29:27.339 --> 01:29:27.349 align:start position:0% I'll be around later if you have any 01:29:27.349 --> 01:29:30.250 align:start position:0% I'll be around later if you have any questions<01:29:27.679> I<01:29:27.860> can<01:29:27.920> talk<01:29:28.219> to<01:29:28.340> you<01:29:28.480> most<01:29:29.480> about<01:29:29.690> I 01:29:30.250 --> 01:29:30.260 align:start position:0% questions I can talk to you most about I 01:29:30.260 --> 01:29:32.939 align:start position:0% questions I can talk to you most about I can<01:29:30.949> talk<01:29:31.130> to<01:29:31.219> you<01:29:31.280> about<01:29:31.309> either<01:29:31.610> $10<01:29:32.449> off 01:29:32.939 --> 01:29:32.949 align:start position:0% can talk to you about either $10 off 01:29:32.949 --> 01:29:35.189 align:start position:0% can talk to you about either $10 off government<01:29:33.250> systems<01:29:33.610> we<01:29:34.390> happen<01:29:34.750> to<01:29:34.780> spend<01:29:35.140> a 01:29:35.189 --> 01:29:35.199 align:start position:0% government systems we happen to spend a 01:29:35.199 --> 01:29:38.280 align:start position:0% government systems we happen to spend a lot<01:29:35.290> of<01:29:35.350> time<01:29:35.620> on<01:29:35.830> them<01:29:36.420> so<01:29:37.420> here<01:29:37.630> comes<01:29:37.840> miss<01:29:38.170> a 01:29:38.280 --> 01:29:38.290 align:start position:0% lot of time on them so here comes miss a 01:29:38.290 --> 01:29:42.720 align:start position:0% lot of time on them so here comes miss a meal<01:29:38.469> Thank<01:29:38.770> You<01:29:38.830> Ellen 01:29:42.720 --> 01:29:42.730 align:start position:0% 01:29:42.730 --> 01:29:44.820 align:start position:0% and<01:29:43.570> so<01:29:43.840> for<01:29:44.080> those<01:29:44.199> of<01:29:44.380> you<01:29:44.500> who<01:29:44.710> are 01:29:44.820 --> 01:29:44.830 align:start position:0% and so for those of you who are 01:29:44.830 --> 01:29:48.780 align:start position:0% and so for those of you who are unfamiliar<01:29:45.690> this<01:29:46.690> here<01:29:46.960> it<01:29:47.080> is<01:29:47.140> sleep<01:29:47.670> in<01:29:48.670> the 01:29:48.780 --> 01:29:48.790 align:start position:0% unfamiliar this here it is sleep in the 01:29:48.790 --> 01:29:50.370 align:start position:0% unfamiliar this here it is sleep in the deep<01:29:48.969> reading<01:29:49.300> ecosystem<01:29:49.840> stately 01:29:50.370 --> 01:29:50.380 align:start position:0% deep reading ecosystem stately 01:29:50.380 --> 01:29:53.760 align:start position:0% deep reading ecosystem stately represents<01:29:51.070> a<01:29:51.250> ticket<01:29:51.870> which<01:29:52.870> is<01:29:53.050> a<01:29:53.080> float<01:29:53.500> on 01:29:53.760 --> 01:29:53.770 align:start position:0% represents a ticket which is a float on 01:29:53.770 --> 01:29:58.160 align:start position:0% represents a ticket which is a float on the<01:29:53.890> network<01:29:54.840> and<01:29:55.840> it's<01:29:56.020> kind<01:29:56.560> of<01:29:56.650> like<01:29:56.890> a 01:29:58.160 --> 01:29:58.170 align:start position:0% the network and it's kind of like a 01:29:58.170 --> 01:30:03.330 align:start position:0% the network and it's kind of like a community<01:29:59.170> a<01:29:59.440> big<01:30:00.130> mess<01:30:01.860> now<01:30:02.860> before<01:30:03.219> I<01:30:03.250> begin 01:30:03.330 --> 01:30:03.340 align:start position:0% community a big mess now before I begin 01:30:03.340 --> 01:30:05.280 align:start position:0% community a big mess now before I begin the<01:30:03.580> talk<01:30:03.820> I<01:30:03.940> just<01:30:03.969> want<01:30:04.150> to<01:30:04.330> extend<01:30:04.780> a<01:30:04.989> special 01:30:05.280 --> 01:30:05.290 align:start position:0% the talk I just want to extend a special 01:30:05.290 --> 01:30:07.490 align:start position:0% the talk I just want to extend a special thank<01:30:05.739> you<01:30:05.920> to<01:30:05.949> be<01:30:06.280> there<01:30:06.550> and<01:30:06.640> community<01:30:07.000> for 01:30:07.490 --> 01:30:07.500 align:start position:0% thank you to be there and community for 01:30:07.500 --> 01:30:11.850 align:start position:0% thank you to be there and community for extending<01:30:08.500> an<01:30:08.590> invite<01:30:09.100> to<01:30:09.969> us<01:30:10.140> D<01:30:11.140> cred<01:30:11.380> doesn't 01:30:11.850 --> 01:30:11.860 align:start position:0% extending an invite to us D cred doesn't 01:30:11.860 --> 01:30:15.689 align:start position:0% extending an invite to us D cred doesn't have<01:30:12.160> any<01:30:12.610> explicit<01:30:13.000> link<01:30:13.420> to<01:30:13.750> atheria<01:30:14.699> so 01:30:15.689 --> 01:30:15.699 align:start position:0% have any explicit link to atheria so 01:30:15.699 --> 01:30:17.220 align:start position:0% have any explicit link to atheria so something<01:30:16.000> that<01:30:16.030> I<01:30:16.150> do<01:30:16.239> find<01:30:16.660> the<01:30:16.810> degree<01:30:17.140> I 01:30:17.220 --> 01:30:17.230 align:start position:0% something that I do find the degree I 01:30:17.230 --> 01:30:19.860 align:start position:0% something that I do find the degree I probably<01:30:17.710> a<01:30:18.070> third<01:30:18.310> committee<01:30:18.699> is<01:30:19.390> not<01:30:19.719> only 01:30:19.860 --> 01:30:19.870 align:start position:0% probably a third committee is not only 01:30:19.870 --> 01:30:22.140 align:start position:0% probably a third committee is not only its<01:30:20.080> positivity<01:30:20.679> but<01:30:21.070> also<01:30:21.250> its<01:30:21.850> willingness 01:30:22.140 --> 01:30:22.150 align:start position:0% its positivity but also its willingness 01:30:22.150 --> 01:30:26.880 align:start position:0% its positivity but also its willingness to<01:30:22.420> welcome<01:30:23.280> ideas<01:30:24.280> that<01:30:25.110> exist<01:30:26.110> outside<01:30:26.620> of 01:30:26.880 --> 01:30:26.890 align:start position:0% to welcome ideas that exist outside of 01:30:26.890 --> 01:30:30.240 align:start position:0% to welcome ideas that exist outside of its<01:30:27.130> immediate<01:30:27.640> ecosystem<01:30:28.300> as<01:30:29.170> I<01:30:29.890> know<01:30:29.949> that 01:30:30.240 --> 01:30:30.250 align:start position:0% its immediate ecosystem as I know that 01:30:30.250 --> 01:30:32.400 align:start position:0% its immediate ecosystem as I know that the<01:30:30.400> cryptocurrency<01:30:31.060> space<01:30:31.690> can<01:30:31.900> often<01:30:32.199> time 01:30:32.400 --> 01:30:32.410 align:start position:0% the cryptocurrency space can often time 01:30:32.410 --> 01:30:34.260 align:start position:0% the cryptocurrency space can often time to<01:30:32.590> be<01:30:32.710> quite<01:30:32.949> tribalistic<01:30:33.520> it<01:30:33.790> types<01:30:34.030> of 01:30:34.260 --> 01:30:34.270 align:start position:0% to be quite tribalistic it types of 01:30:34.270 --> 01:30:37.229 align:start position:0% to be quite tribalistic it types of things<01:30:34.500> so<01:30:35.500> for<01:30:36.370> the<01:30:36.489> talk<01:30:36.699> today<01:30:36.880> I'm<01:30:37.090> going 01:30:37.229 --> 01:30:37.239 align:start position:0% things so for the talk today I'm going 01:30:37.239 --> 01:30:39.330 align:start position:0% things so for the talk today I'm going to<01:30:37.300> focus<01:30:37.360> D<01:30:38.230> creds<01:30:38.440> model<01:30:38.739> has<01:30:38.890> quite<01:30:39.190> a<01:30:39.219> bit 01:30:39.330 --> 01:30:39.340 align:start position:0% to focus D creds model has quite a bit 01:30:39.340 --> 01:30:40.770 align:start position:0% to focus D creds model has quite a bit of<01:30:39.429> complexity<01:30:39.910> to<01:30:40.060> it<01:30:40.239> so<01:30:40.540> I'm<01:30:40.630> going<01:30:40.750> to 01:30:40.770 --> 01:30:40.780 align:start position:0% of complexity to it so I'm going to 01:30:40.780 --> 01:30:43.229 align:start position:0% of complexity to it so I'm going to focus<01:30:40.989> less<01:30:41.410> on<01:30:41.679> how<01:30:42.070> it<01:30:42.219> works<01:30:42.460> and<01:30:42.820> more<01:30:43.030> so 01:30:43.229 --> 01:30:43.239 align:start position:0% focus less on how it works and more so 01:30:43.239 --> 01:30:45.630 align:start position:0% focus less on how it works and more so why<01:30:43.630> we<01:30:43.840> implemented<01:30:44.410> that<01:30:44.560> implemented<01:30:45.460> it 01:30:45.630 --> 01:30:45.640 align:start position:0% why we implemented that implemented it 01:30:45.640 --> 01:30:51.620 align:start position:0% why we implemented that implemented it that<01:30:45.850> way<01:30:48.570> okay<01:30:49.570> so<01:30:49.630> for<01:30:50.350> a<01:30:50.380> bit<01:30:50.560> of<01:30:50.590> historical 01:30:51.620 --> 01:30:51.630 align:start position:0% that way okay so for a bit of historical 01:30:51.630 --> 01:30:55.260 align:start position:0% that way okay so for a bit of historical context<01:30:52.630> before<01:30:52.870> have<01:30:53.520> some<01:30:54.520> of<01:30:54.640> the<01:30:54.699> for<01:30:55.210> the 01:30:55.260 --> 01:30:55.270 align:start position:0% context before have some of the for the 01:30:55.270 --> 01:30:56.820 align:start position:0% context before have some of the for the developers<01:30:55.690> in<01:30:55.810> the<01:30:55.929> room<01:30:56.260> you<01:30:56.469> might<01:30:56.650> be 01:30:56.820 --> 01:30:56.830 align:start position:0% developers in the room you might be 01:30:56.830 --> 01:30:58.950 align:start position:0% developers in the room you might be familiar<01:30:57.070> with<01:30:57.340> some<01:30:57.760> of<01:30:57.790> our<01:30:58.000> developers 01:30:58.950 --> 01:30:58.960 align:start position:0% familiar with some of our developers 01:30:58.960 --> 01:31:04.229 align:start position:0% familiar with some of our developers previous<01:30:59.760> open<01:31:00.760> source<01:31:01.110> work<01:31:02.280> so<01:31:03.280> Meyer<01:31:03.790> 2d 01:31:04.229 --> 01:31:04.239 align:start position:0% previous open source work so Meyer 2d 01:31:04.239 --> 01:31:08.610 align:start position:0% previous open source work so Meyer 2d cred<01:31:05.400> many<01:31:06.400> about<01:31:06.670> developers<01:31:07.300> spent<01:31:07.660> over<01:31:08.230> 15 01:31:08.610 --> 01:31:08.620 align:start position:0% cred many about developers spent over 15 01:31:08.620 --> 01:31:10.720 align:start position:0% cred many about developers spent over 15 years<01:31:08.650> in<01:31:09.100> a<01:31:09.340> way<01:31:09.489> tell<01:31:09.670> people<01:31:10.030> be<01:31:10.360> as 01:31:10.720 --> 01:31:10.730 align:start position:0% years in a way tell people be as 01:31:10.730 --> 01:31:13.960 align:start position:0% years in a way tell people be as but<01:31:10.880> yet<01:31:11.470> they<01:31:12.470> then<01:31:12.740> moved<01:31:13.070> into<01:31:13.370> very<01:31:13.880> early 01:31:13.960 --> 01:31:13.970 align:start position:0% but yet they then moved into very early 01:31:13.970 --> 01:31:17.950 align:start position:0% but yet they then moved into very early Bitcoin<01:31:14.870> development<01:31:16.060> releasing<01:31:17.060> BTC<01:31:17.570> sweet 01:31:17.950 --> 01:31:17.960 align:start position:0% Bitcoin development releasing BTC sweet 01:31:17.960 --> 01:31:21.670 align:start position:0% Bitcoin development releasing BTC sweet and<01:31:18.320> Reese's<01:31:18.770> T<01:31:19.220> at<01:31:19.520> btcd<01:31:20.350> which<01:31:21.350> at<01:31:21.530> the<01:31:21.650> time 01:31:21.670 --> 01:31:21.680 align:start position:0% and Reese's T at btcd which at the time 01:31:21.680 --> 01:31:25.360 align:start position:0% and Reese's T at btcd which at the time was<01:31:22.160> the<01:31:22.370> first<01:31:23.950> alternate<01:31:24.950> full<01:31:25.190> node 01:31:25.360 --> 01:31:25.370 align:start position:0% was the first alternate full node 01:31:25.370 --> 01:31:27.910 align:start position:0% was the first alternate full node implementation<01:31:26.060> of<01:31:26.150> the<01:31:26.300> coin<01:31:26.620> then<01:31:27.620> they 01:31:27.910 --> 01:31:27.920 align:start position:0% implementation of the coin then they 01:31:27.920 --> 01:31:30.310 align:start position:0% implementation of the coin then they moved<01:31:28.190> on<01:31:28.400> to<01:31:28.460> release<01:31:29.390> Christiana<01:31:30.020> Tomac 01:31:30.310 --> 01:31:30.320 align:start position:0% moved on to release Christiana Tomac 01:31:30.320 --> 01:31:32.290 align:start position:0% moved on to release Christiana Tomac swaps<01:31:30.590> so<01:31:30.980> that<01:31:31.400> was<01:31:31.550> released<01:31:31.880> and<01:31:32.270> made 01:31:32.290 --> 01:31:32.300 align:start position:0% swaps so that was released and made 01:31:32.300 --> 01:31:36.210 align:start position:0% swaps so that was released and made open-source<01:31:32.990> by<01:31:33.610> Davis<01:31:34.610> one<01:31:34.850> about<01:31:35.060> the<01:31:35.180> girls 01:31:36.210 --> 01:31:36.220 align:start position:0% open-source by Davis one about the girls 01:31:36.220 --> 01:31:38.380 align:start position:0% open-source by Davis one about the girls tends<01:31:37.220> to<01:31:37.370> be<01:31:37.460> one<01:31:37.610> of<01:31:37.700> our<01:31:37.820> more<01:31:38.030> prominent 01:31:38.380 --> 01:31:38.390 align:start position:0% tends to be one of our more prominent 01:31:38.390 --> 01:31:42.250 align:start position:0% tends to be one of our more prominent open<01:31:39.020> source<01:31:39.230> contributions<01:31:40.420> so<01:31:41.420> the<01:31:41.990> reason 01:31:42.250 --> 01:31:42.260 align:start position:0% open source contributions so the reason 01:31:42.260 --> 01:31:45.640 align:start position:0% open source contributions so the reason why<01:31:42.380> I<01:31:42.410> bring<01:31:42.710> this<01:31:42.770> up<01:31:43.100> is<01:31:43.510> that<01:31:44.530> for<01:31:45.530> de 01:31:45.640 --> 01:31:45.650 align:start position:0% why I bring this up is that for de 01:31:45.650 --> 01:31:47.020 align:start position:0% why I bring this up is that for de credit<01:31:45.950> governments<01:31:46.370> wasn't<01:31:46.730> really<01:31:46.940> an 01:31:47.020 --> 01:31:47.030 align:start position:0% credit governments wasn't really an 01:31:47.030 --> 01:31:50.380 align:start position:0% credit governments wasn't really an afterthought<01:31:48.580> it<01:31:49.580> was<01:31:49.940> something<01:31:50.210> that<01:31:50.240> was 01:31:50.380 --> 01:31:50.390 align:start position:0% afterthought it was something that was 01:31:50.390 --> 01:31:52.750 align:start position:0% afterthought it was something that was carefully<01:31:50.930> planned<01:31:51.260> because<01:31:51.830> the<01:31:52.370> team<01:31:52.610> had 01:31:52.750 --> 01:31:52.760 align:start position:0% carefully planned because the team had 01:31:52.760 --> 01:31:56.830 align:start position:0% carefully planned because the team had spent<01:31:53.000> quite<01:31:53.300> a<01:31:53.360> bit<01:31:53.420> of<01:31:53.570> time<01:31:54.130> prior<01:31:55.840> dealing 01:31:56.830 --> 01:31:56.840 align:start position:0% spent quite a bit of time prior dealing 01:31:56.840 --> 01:31:59.410 align:start position:0% spent quite a bit of time prior dealing with<01:31:56.990> open<01:31:57.290> source<01:31:57.530> communities<01:31:57.980> and<01:31:58.420> having 01:31:59.410 --> 01:31:59.420 align:start position:0% with open source communities and having 01:31:59.420 --> 01:32:02.430 align:start position:0% with open source communities and having to<01:31:59.540> deal<01:31:59.690> with<01:31:59.930> the<01:32:00.080> various<01:32:00.470> conflicting 01:32:02.430 --> 01:32:02.440 align:start position:0% to deal with the various conflicting 01:32:02.440 --> 01:32:05.170 align:start position:0% to deal with the various conflicting stakeholder<01:32:03.440> groups<01:32:03.710> within<01:32:04.280> the<01:32:04.340> Bitcoin 01:32:05.170 --> 01:32:05.180 align:start position:0% stakeholder groups within the Bitcoin 01:32:05.180 --> 01:32:13.230 align:start position:0% stakeholder groups within the Bitcoin ecosystem<01:32:07.600> and<01:32:08.600> so<01:32:09.700> for<01:32:10.700> that<01:32:10.790> reason<01:32:10.850> it<01:32:11.540> said 01:32:13.230 --> 01:32:13.240 align:start position:0% ecosystem and so for that reason it said 01:32:13.240 --> 01:32:17.950 align:start position:0% ecosystem and so for that reason it said so<01:32:14.240> I<01:32:14.300> lost<01:32:15.080> my<01:32:15.260> chain<01:32:15.650> of<01:32:15.770> thought<01:32:15.980> but<01:32:16.960> we'll 01:32:17.950 --> 01:32:17.960 align:start position:0% so I lost my chain of thought but we'll 01:32:17.960 --> 01:32:19.570 align:start position:0% so I lost my chain of thought but we'll just<01:32:17.990> go<01:32:18.140> to<01:32:18.260> the<01:32:18.620> beginning<01:32:18.710> so<01:32:19.010> that<01:32:19.040> these 01:32:19.570 --> 01:32:19.580 align:start position:0% just go to the beginning so that these 01:32:19.580 --> 01:32:20.860 align:start position:0% just go to the beginning so that these deep<01:32:19.940> rivers<01:32:20.210> originally<01:32:20.600> conceptualized 01:32:20.860 --> 01:32:20.870 align:start position:0% deep rivers originally conceptualized 01:32:20.870 --> 01:32:23.890 align:start position:0% deep rivers originally conceptualized around<01:32:21.560> 2014<01:32:22.160> so<01:32:22.640> that<01:32:22.670> was<01:32:23.060> roughly<01:32:23.720> around 01:32:23.890 --> 01:32:23.900 align:start position:0% around 2014 so that was roughly around 01:32:23.900 --> 01:32:26.740 align:start position:0% around 2014 so that was roughly around it<01:32:24.170> at<01:32:24.560> the<01:32:24.680> time<01:32:24.920> that<01:32:25.190> the<01:32:25.340> team<01:32:25.720> started<01:32:26.720> to 01:32:26.740 --> 01:32:26.750 align:start position:0% it at the time that the team started to 01:32:26.750 --> 01:32:29.140 align:start position:0% it at the time that the team started to transition<01:32:27.260> away<01:32:27.530> from<01:32:27.800> their<01:32:28.700> Bitcoin 01:32:29.140 --> 01:32:29.150 align:start position:0% transition away from their Bitcoin 01:32:29.150 --> 01:32:33.430 align:start position:0% transition away from their Bitcoin development<01:32:29.830> then<01:32:30.830> we<01:32:31.100> leader<01:32:32.440> underwent 01:32:33.430 --> 01:32:33.440 align:start position:0% development then we leader underwent 01:32:33.440 --> 01:32:35.800 align:start position:0% development then we leader underwent about<01:32:34.000> roughly<01:32:35.000> two<01:32:35.150> years<01:32:35.480> of<01:32:35.690> development 01:32:35.800 --> 01:32:35.810 align:start position:0% about roughly two years of development 01:32:35.810 --> 01:32:40.530 align:start position:0% about roughly two years of development we<01:32:36.800> later<01:32:36.980> released<01:32:37.370> it<01:32:37.990> quarter<01:32:38.990> 1<01:32:39.170> of<01:32:39.290> 2016 01:32:40.530 --> 01:32:40.540 align:start position:0% we later released it quarter 1 of 2016 01:32:40.540 --> 01:32:44.740 align:start position:0% we later released it quarter 1 of 2016 then<01:32:41.540> in<01:32:41.990> quarter<01:32:42.440> 2<01:32:42.620> of<01:32:43.210> 2017<01:32:44.210> we<01:32:44.480> had<01:32:44.630> our 01:32:44.740 --> 01:32:44.750 align:start position:0% then in quarter 2 of 2017 we had our 01:32:44.750 --> 01:32:48.490 align:start position:0% then in quarter 2 of 2017 we had our first<01:32:45.310> launch<01:32:46.310> chain<01:32:46.730> voting<01:32:47.270> process<01:32:47.690> so 01:32:48.490 --> 01:32:48.500 align:start position:0% first launch chain voting process so 01:32:48.500 --> 01:32:51.460 align:start position:0% first launch chain voting process so John<01:32:48.920> alluded<01:32:49.160> to<01:32:49.370> that<01:32:49.570> in<01:32:50.570> his<01:32:50.840> early<01:32:51.200> talk 01:32:51.460 --> 01:32:51.470 align:start position:0% John alluded to that in his early talk 01:32:51.470 --> 01:32:54.670 align:start position:0% John alluded to that in his early talk and<01:32:52.130> this<01:32:52.790> was<01:32:52.970> really<01:32:53.750> the<01:32:53.930> first<01:32:54.200> time<01:32:54.500> we 01:32:54.670 --> 01:32:54.680 align:start position:0% and this was really the first time we 01:32:54.680 --> 01:32:56.950 align:start position:0% and this was really the first time we actually<01:32:54.830> got<01:32:55.130> to 01:32:56.950 --> 01:32:56.960 align:start position:0% actually got to 01:32:56.960 --> 01:32:59.780 align:start position:0% actually got to demonstrate<01:32:57.960> the<01:32:58.409> core<01:32:58.980> of<01:32:59.130> Ekron<01:32:59.520> sales 01:32:59.780 --> 01:32:59.790 align:start position:0% demonstrate the core of Ekron sales 01:32:59.790 --> 01:33:01.939 align:start position:0% demonstrate the core of Ekron sales process<01:33:00.480> which<01:33:01.230> is<01:33:01.380> our<01:33:01.530> ability<01:33:01.920> to 01:33:01.939 --> 01:33:01.949 align:start position:0% process which is our ability to 01:33:01.949 --> 01:33:05.630 align:start position:0% process which is our ability to implement<01:33:02.520> user<01:33:03.270> activated<01:33:03.960> hard<01:33:04.290> Forks<01:33:04.739> now 01:33:05.630 --> 01:33:05.640 align:start position:0% implement user activated hard Forks now 01:33:05.640 --> 01:33:07.669 align:start position:0% implement user activated hard Forks now to<01:33:05.699> my<01:33:06.060> knowledge<01:33:06.239> this<01:33:06.570> was<01:33:06.750> actually<01:33:06.960> first 01:33:07.669 --> 01:33:07.679 align:start position:0% to my knowledge this was actually first 01:33:07.679 --> 01:33:10.310 align:start position:0% to my knowledge this was actually first time<01:33:08.130> a<01:33:08.429> user<01:33:08.640> activated<01:33:09.390> hard<01:33:09.600> fork<01:33:09.900> has<01:33:10.110> ever 01:33:10.310 --> 01:33:10.320 align:start position:0% time a user activated hard fork has ever 01:33:10.320 --> 01:33:12.729 align:start position:0% time a user activated hard fork has ever being<01:33:10.620> observed<01:33:11.100> in<01:33:11.400> the<01:33:11.730> cryptocurrency 01:33:12.729 --> 01:33:12.739 align:start position:0% being observed in the cryptocurrency 01:33:12.739 --> 01:33:15.890 align:start position:0% being observed in the cryptocurrency ecosystem<01:33:13.739> and<01:33:14.640> then<01:33:15.150> since<01:33:15.449> then<01:33:15.690> we're 01:33:15.890 --> 01:33:15.900 align:start position:0% ecosystem and then since then we're 01:33:15.900 --> 01:33:18.040 align:start position:0% ecosystem and then since then we're starting<01:33:16.110> to<01:33:16.320> focus<01:33:16.500> a<01:33:16.770> little<01:33:16.890> bit<01:33:17.070> more<01:33:17.130> on 01:33:18.040 --> 01:33:18.050 align:start position:0% starting to focus a little bit more on 01:33:18.050 --> 01:33:20.410 align:start position:0% starting to focus a little bit more on off<01:33:19.050> chain<01:33:19.290> governance<01:33:19.800> which<01:33:20.070> is 01:33:20.410 --> 01:33:20.420 align:start position:0% off chain governance which is 01:33:20.420 --> 01:33:22.669 align:start position:0% off chain governance which is specifically<01:33:21.420> relates<01:33:21.810> to<01:33:21.960> the<01:33:22.140> coordination 01:33:22.669 --> 01:33:22.679 align:start position:0% specifically relates to the coordination 01:33:22.679 --> 01:33:24.050 align:start position:0% specifically relates to the coordination of<01:33:22.980> the<01:33:23.040> various<01:33:23.429> different<01:33:23.790> contributors 01:33:24.050 --> 01:33:24.060 align:start position:0% of the various different contributors 01:33:24.060 --> 01:33:31.100 align:start position:0% of the various different contributors and<01:33:24.510> the<01:33:24.630> products<01:33:24.929> resources<01:33:28.550> so<01:33:29.780> whilst<01:33:30.780> we 01:33:31.100 --> 01:33:31.110 align:start position:0% and the products resources so whilst we 01:33:31.110 --> 01:33:33.919 align:start position:0% and the products resources so whilst we were<01:33:31.320> fairly<01:33:31.909> early<01:33:32.909> in<01:33:33.120> recognizing 01:33:33.919 --> 01:33:33.929 align:start position:0% were fairly early in recognizing 01:33:33.929 --> 01:33:36.709 align:start position:0% were fairly early in recognizing governance<01:33:34.409> as<01:33:34.830> a<01:33:35.699> problem<01:33:36.120> I<01:33:36.300> want<01:33:36.570> to<01:33:36.630> make 01:33:36.709 --> 01:33:36.719 align:start position:0% governance as a problem I want to make 01:33:36.719 --> 01:33:38.510 align:start position:0% governance as a problem I want to make it<01:33:36.840> clear<01:33:37.020> you<01:33:37.560> know<01:33:37.679> that<01:33:37.920> we're<01:33:38.100> not<01:33:38.130> so 01:33:38.510 --> 01:33:38.520 align:start position:0% it clear you know that we're not so 01:33:38.520 --> 01:33:40.700 align:start position:0% it clear you know that we're not so arrogant<01:33:38.969> as<01:33:39.210> to<01:33:39.239> assume<01:33:39.690> that<01:33:40.110> we're<01:33:40.380> some 01:33:40.700 --> 01:33:40.710 align:start position:0% arrogant as to assume that we're some 01:33:40.710 --> 01:33:45.500 align:start position:0% arrogant as to assume that we're some kind<01:33:41.070> of<01:33:41.330> governance<01:33:42.330> in<01:33:42.630> a<01:33:42.719> sale<01:33:43.020> I<01:33:44.510> think 01:33:45.500 --> 01:33:45.510 align:start position:0% kind of governance in a sale I think 01:33:45.510 --> 01:33:49.189 align:start position:0% kind of governance in a sale I think that<01:33:45.870> just<01:33:46.080> like<01:33:46.320> watching<01:33:47.510> itself<01:33:48.510> there<01:33:48.960> are 01:33:49.189 --> 01:33:49.199 align:start position:0% that just like watching itself there are 01:33:49.199 --> 01:33:50.930 align:start position:0% that just like watching itself there are many<01:33:49.409> correct<01:33:49.980> ways<01:33:50.280> to<01:33:50.670> implement 01:33:50.930 --> 01:33:50.940 align:start position:0% many correct ways to implement 01:33:50.940 --> 01:33:54.979 align:start position:0% many correct ways to implement governance<01:33:52.010> and<01:33:53.150> depending<01:33:54.150> on<01:33:54.330> the 01:33:54.979 --> 01:33:54.989 align:start position:0% governance and depending on the 01:33:54.989 --> 01:33:56.660 align:start position:0% governance and depending on the particular<01:33:55.140> problem<01:33:56.040> that<01:33:56.070> you're<01:33:56.370> looking 01:33:56.660 --> 01:33:56.670 align:start position:0% particular problem that you're looking 01:33:56.670 --> 01:34:02.570 align:start position:0% particular problem that you're looking to<01:33:56.730> solve<01:34:00.469> the<01:34:01.469> effectiveness<01:34:02.010> of<01:34:02.370> a 01:34:02.570 --> 01:34:02.580 align:start position:0% to solve the effectiveness of a 01:34:02.580 --> 01:34:04.280 align:start position:0% to solve the effectiveness of a particular<01:34:02.699> governance<01:34:03.360> solution<01:34:03.900> is<01:34:04.050> going 01:34:04.280 --> 01:34:04.290 align:start position:0% particular governance solution is going 01:34:04.290 --> 01:34:07.520 align:start position:0% particular governance solution is going to<01:34:04.440> depend<01:34:04.620> very<01:34:04.949> heavily<01:34:05.250> on<01:34:05.670> that<01:34:06.350> so<01:34:07.350> in<01:34:07.469> the 01:34:07.520 --> 01:34:07.530 align:start position:0% to depend very heavily on that so in the 01:34:07.530 --> 01:34:09.979 align:start position:0% to depend very heavily on that so in the context<01:34:08.010> of<01:34:08.100> de<01:34:08.489> credit<01:34:08.880> we<01:34:09.000> suppose<01:34:09.360> that<01:34:09.390> we 01:34:09.979 --> 01:34:09.989 align:start position:0% context of de credit we suppose that we 01:34:09.989 --> 01:34:13.070 align:start position:0% context of de credit we suppose that we focused<01:34:10.890> specifically<01:34:11.520> on<01:34:11.640> a<01:34:12.360> bond<01:34:12.659> chain 01:34:13.070 --> 01:34:13.080 align:start position:0% focused specifically on a bond chain 01:34:13.080 --> 01:34:15.790 align:start position:0% focused specifically on a bond chain quaint<01:34:13.710> halter<01:34:14.100> led<01:34:14.570> governance 01:34:15.790 --> 01:34:15.800 align:start position:0% quaint halter led governance 01:34:15.800 --> 01:34:18.610 align:start position:0% quaint halter led governance specifically<01:34:16.800> as<01:34:17.250> it<01:34:17.280> relates<01:34:17.400> to<01:34:17.880> the 01:34:18.610 --> 01:34:18.620 align:start position:0% specifically as it relates to the 01:34:18.620 --> 01:34:25.459 align:start position:0% specifically as it relates to the consensus<01:34:19.620> change<01:34:19.860> process<01:34:22.610> and<01:34:23.610> so<01:34:24.469> I'll 01:34:25.459 --> 01:34:25.469 align:start position:0% consensus change process and so I'll 01:34:25.469 --> 01:34:27.620 align:start position:0% consensus change process and so I'll just<01:34:25.590> briefly<01:34:26.159> give<01:34:26.550> you<01:34:26.610> an<01:34:26.790> overview<01:34:27.090> of<01:34:27.480> how 01:34:27.620 --> 01:34:27.630 align:start position:0% just briefly give you an overview of how 01:34:27.630 --> 01:34:30.380 align:start position:0% just briefly give you an overview of how that<01:34:27.690> works<01:34:27.989> basically<01:34:28.890> we<01:34:29.219> utilize<01:34:29.550> a<01:34:29.580> hybrid 01:34:30.380 --> 01:34:30.390 align:start position:0% that works basically we utilize a hybrid 01:34:30.390 --> 01:34:32.149 align:start position:0% that works basically we utilize a hybrid model<01:34:30.750> that<01:34:30.960> blends<01:34:31.409> both<01:34:31.710> the<01:34:31.830> proof<01:34:32.040> of 01:34:32.149 --> 01:34:32.159 align:start position:0% model that blends both the proof of 01:34:32.159 --> 01:34:35.600 align:start position:0% model that blends both the proof of state<01:34:32.400> with<01:34:32.940> pro<01:34:33.420> court<01:34:33.860> so<01:34:34.860> probably<01:34:35.190> easiest 01:34:35.600 --> 01:34:35.610 align:start position:0% state with pro court so probably easiest 01:34:35.610 --> 01:34:38.500 align:start position:0% state with pro court so probably easiest way<01:34:35.969> to<01:34:36.679> visualize<01:34:37.679> this 01:34:38.500 --> 01:34:38.510 align:start position:0% way to visualize this 01:34:38.510 --> 01:34:41.500 align:start position:0% way to visualize this something<01:34:39.350> like<01:34:39.500> that<01:34:39.530> assembly<01:34:40.010> line<01:34:40.510> so 01:34:41.500 --> 01:34:41.510 align:start position:0% something like that assembly line so 01:34:41.510 --> 01:34:43.660 align:start position:0% something like that assembly line so what<01:34:41.600> happens<01:34:42.020> is<01:34:42.230> whenever<01:34:42.500> a<01:34:42.710> minor<01:34:43.130> about 01:34:43.660 --> 01:34:43.670 align:start position:0% what happens is whenever a minor about 01:34:43.670 --> 01:34:47.110 align:start position:0% what happens is whenever a minor about produces<01:34:44.180> is<01:34:45.020> producing<01:34:45.470> a<01:34:45.650> lot<01:34:45.680> they<01:34:46.670> have<01:34:46.910> to 01:34:47.110 --> 01:34:47.120 align:start position:0% produces is producing a lot they have to 01:34:47.120 --> 01:34:49.540 align:start position:0% produces is producing a lot they have to select<01:34:47.450> a<01:34:47.720> number<01:34:47.960> of<01:34:48.230> tickets<01:34:48.530> over<01:34:49.040> votes 01:34:49.540 --> 01:34:49.550 align:start position:0% select a number of tickets over votes 01:34:49.550 --> 01:34:52.870 align:start position:0% select a number of tickets over votes and<01:34:49.940> random<01:34:50.420> from<01:34:50.630> the<01:34:50.750> stakeholders<01:34:51.880> into 01:34:52.870 --> 01:34:52.880 align:start position:0% and random from the stakeholders into 01:34:52.880 --> 01:34:55.390 align:start position:0% and random from the stakeholders into their<01:34:53.030> lungs<01:34:53.240> now<01:34:53.690> in<01:34:54.260> order<01:34:54.500> that<01:34:54.590> want<01:34:55.100> to<01:34:55.280> be 01:34:55.390 --> 01:34:55.400 align:start position:0% their lungs now in order that want to be 01:34:55.400 --> 01:34:57.790 align:start position:0% their lungs now in order that want to be considered<01:34:55.880> valid<01:34:56.090> in<01:34:56.810> order<01:34:57.140> to<01:34:57.260> actually 01:34:57.790 --> 01:34:57.800 align:start position:0% considered valid in order to actually 01:34:57.800 --> 01:35:03.820 align:start position:0% considered valid in order to actually successfully<01:34:58.190> posted<01:34:58.970> and<01:35:02.110> receive<01:35:03.110> the<01:35:03.470> love 01:35:03.820 --> 01:35:03.830 align:start position:0% successfully posted and receive the love 01:35:03.830 --> 01:35:07.180 align:start position:0% successfully posted and receive the love reward<01:35:04.250> a<01:35:05.140> majority<01:35:06.140> of<01:35:06.170> the<01:35:06.470> votes<01:35:06.770> they 01:35:07.180 --> 01:35:07.190 align:start position:0% reward a majority of the votes they 01:35:07.190 --> 01:35:09.640 align:start position:0% reward a majority of the votes they include<01:35:07.640> within<01:35:07.940> that<01:35:08.060> block<01:35:08.270> need<01:35:09.230> to<01:35:09.410> be<01:35:09.530> in 01:35:09.640 --> 01:35:09.650 align:start position:0% include within that block need to be in 01:35:09.650 --> 01:35:12.010 align:start position:0% include within that block need to be in favor<01:35:09.980> of<01:35:10.190> whatever<01:35:10.520> clock<01:35:11.030> particular<01:35:11.840> block 01:35:12.010 --> 01:35:12.020 align:start position:0% favor of whatever clock particular block 01:35:12.020 --> 01:35:14.260 align:start position:0% favor of whatever clock particular block type<01:35:12.260> of<01:35:12.410> this<01:35:12.560> event<01:35:12.950> and<01:35:13.490> those<01:35:13.670> votes<01:35:14.120> are 01:35:14.260 --> 01:35:14.270 align:start position:0% type of this event and those votes are 01:35:14.270 --> 01:35:16.210 align:start position:0% type of this event and those votes are selected<01:35:14.690> at<01:35:14.810> random<01:35:14.840> to<01:35:15.350> the<01:35:15.440> minor<01:35:15.650> can't<01:35:15.980> go 01:35:16.210 --> 01:35:16.220 align:start position:0% selected at random to the minor can't go 01:35:16.220 --> 01:35:18.130 align:start position:0% selected at random to the minor can't go into<01:35:16.460> select<01:35:16.940> every<01:35:17.270> choose<01:35:17.570> the<01:35:17.750> votes<01:35:17.960> that 01:35:18.130 --> 01:35:18.140 align:start position:0% into select every choose the votes that 01:35:18.140 --> 01:35:21.940 align:start position:0% into select every choose the votes that are<01:35:18.790> exclusively<01:35:19.840> in<01:35:20.840> favor<01:35:21.110> of<01:35:21.320> whatever<01:35:21.500> is 01:35:21.940 --> 01:35:21.950 align:start position:0% are exclusively in favor of whatever is 01:35:21.950 --> 01:35:23.070 align:start position:0% are exclusively in favor of whatever is invasively 01:35:23.070 --> 01:35:23.080 align:start position:0% invasively 01:35:23.080 --> 01:35:25.690 align:start position:0% invasively now<01:35:24.080> so<01:35:24.290> that<01:35:24.440> the<01:35:24.620> whole<01:35:24.770> process<01:35:25.070> is<01:35:25.400> on 01:35:25.690 --> 01:35:25.700 align:start position:0% now so that the whole process is on 01:35:25.700 --> 01:35:28.810 align:start position:0% now so that the whole process is on chain<01:35:25.970> and<01:35:26.150> binding<01:35:26.530> so<01:35:27.530> once<01:35:27.860> an<01:35:28.190> approval 01:35:28.810 --> 01:35:28.820 align:start position:0% chain and binding so once an approval 01:35:28.820 --> 01:35:31.390 align:start position:0% chain and binding so once an approval threshold<01:35:29.390> of<01:35:29.570> at<01:35:29.690> least<01:35:29.900> 75<01:35:30.740> percent<01:35:30.950> of<01:35:31.280> the 01:35:31.390 --> 01:35:31.400 align:start position:0% threshold of at least 75 percent of the 01:35:31.400 --> 01:35:32.770 align:start position:0% threshold of at least 75 percent of the votes<01:35:31.580> within<01:35:31.880> a<01:35:31.910> which<01:35:32.240> of<01:35:32.270> the<01:35:32.510> voting 01:35:32.770 --> 01:35:32.780 align:start position:0% votes within a which of the voting 01:35:32.780 --> 01:35:37.360 align:start position:0% votes within a which of the voting window<01:35:34.930> have<01:35:35.930> been<01:35:36.260> accumulated 01:35:37.360 --> 01:35:37.370 align:start position:0% window have been accumulated 01:35:37.370 --> 01:35:39.820 align:start position:0% window have been accumulated then<01:35:37.880> whatever<01:35:38.090> change<01:35:38.540> gets<01:35:39.320> automatically 01:35:39.820 --> 01:35:39.830 align:start position:0% then whatever change gets automatically 01:35:39.830 --> 01:35:41.980 align:start position:0% then whatever change gets automatically implemented<01:35:40.610> so<01:35:40.850> an<01:35:41.090> example<01:35:41.210> of<01:35:41.570> this<01:35:41.750> might 01:35:41.980 --> 01:35:41.990 align:start position:0% implemented so an example of this might 01:35:41.990 --> 01:35:50.770 align:start position:0% implemented so an example of this might be<01:35:42.050> pro<01:35:42.950> or<01:35:42.980> anti<01:35:43.460> segregated<01:35:44.120> witness<01:35:49.780> okay 01:35:50.770 --> 01:35:50.780 align:start position:0% be pro or anti segregated witness okay 01:35:50.780 --> 01:35:55.540 align:start position:0% be pro or anti segregated witness okay so<01:35:51.610> the<01:35:52.610> thing<01:35:53.120> but<01:35:54.130> coin<01:35:55.130> holder<01:35:55.400> blood 01:35:55.540 --> 01:35:55.550 align:start position:0% so the thing but coin holder blood 01:35:55.550 --> 01:35:59.020 align:start position:0% so the thing but coin holder blood governance<01:35:56.000> is<01:35:56.240> as<01:35:56.600> Lane<01:35:57.350> alluded<01:35:58.100> to<01:35:58.280> it 01:35:59.020 --> 01:35:59.030 align:start position:0% governance is as Lane alluded to it 01:35:59.030 --> 01:36:01.260 align:start position:0% governance is as Lane alluded to it doesn't<01:35:59.300> necessarily<01:36:00.020> take<01:36:00.050> into<01:36:00.620> account 01:36:01.260 --> 01:36:01.270 align:start position:0% doesn't necessarily take into account 01:36:01.270 --> 01:36:04.210 align:start position:0% doesn't necessarily take into account almost<01:36:02.270> all<01:36:02.750> the<01:36:03.080> possible<01:36:03.650> types<01:36:03.950> of 01:36:04.210 --> 01:36:04.220 align:start position:0% almost all the possible types of 01:36:04.220 --> 01:36:07.150 align:start position:0% almost all the possible types of stakeholders<01:36:04.820> that<01:36:04.850> might<01:36:05.540> exist<01:36:06.160> that's 01:36:07.150 --> 01:36:07.160 align:start position:0% stakeholders that might exist that's 01:36:07.160 --> 01:36:09.700 align:start position:0% stakeholders that might exist that's definitely<01:36:07.640> very<01:36:07.760> true<01:36:08.060> but<01:36:08.900> what<01:36:09.050> it<01:36:09.140> does<01:36:09.380> do 01:36:09.700 --> 01:36:09.710 align:start position:0% definitely very true but what it does do 01:36:09.710 --> 01:36:12.700 align:start position:0% definitely very true but what it does do is<01:36:10.100> it<01:36:10.160> it<01:36:10.430> does<01:36:10.610> constant<01:36:11.390> paucity<01:36:12.080> wider<01:36:12.350> net 01:36:12.700 --> 01:36:12.710 align:start position:0% is it it does constant paucity wider net 01:36:12.710 --> 01:36:17.020 align:start position:0% is it it does constant paucity wider net to<01:36:13.250> program<01:36:14.090> work<01:36:14.300> miners<01:36:14.750> alone<01:36:15.250> and<01:36:16.250> so<01:36:16.880> that 01:36:17.020 --> 01:36:17.030 align:start position:0% to program work miners alone and so that 01:36:17.030 --> 01:36:18.939 align:start position:0% to program work miners alone and so that was<01:36:17.360> really<01:36:17.570> the<01:36:17.630> point<01:36:17.750> behind 01:36:18.939 --> 01:36:18.949 align:start position:0% was really the point behind 01:36:18.949 --> 01:36:21.610 align:start position:0% was really the point behind is<01:36:19.010> that<01:36:19.670> we<01:36:20.030> didn't<01:36:20.300> want<01:36:20.449> to<01:36:20.630> eliminate<01:36:20.960> - 01:36:21.610 --> 01:36:21.620 align:start position:0% is that we didn't want to eliminate - 01:36:21.620 --> 01:36:22.900 align:start position:0% is that we didn't want to eliminate - because<01:36:22.010> we<01:36:22.160> felt<01:36:22.370> that<01:36:22.429> they<01:36:22.580> play<01:36:22.820> an 01:36:22.900 --> 01:36:22.910 align:start position:0% because we felt that they play an 01:36:22.910 --> 01:36:25.330 align:start position:0% because we felt that they play an incredibly<01:36:23.239> important<01:36:23.960> role<01:36:23.989> and<01:36:24.590> we're 01:36:25.330 --> 01:36:25.340 align:start position:0% incredibly important role and we're 01:36:25.340 --> 01:36:28.450 align:start position:0% incredibly important role and we're still<01:36:25.580> huge<01:36:26.000> advocates<01:36:26.630> or<01:36:26.840> group<01:36:27.170> of<01:36:27.260> work<01:36:27.469> as 01:36:28.450 --> 01:36:28.460 align:start position:0% still huge advocates or group of work as 01:36:28.460 --> 01:36:32.320 align:start position:0% still huge advocates or group of work as a<01:36:28.670> consensus<01:36:29.239> model<01:36:30.160> we<01:36:31.160> just<01:36:31.190> felt<01:36:31.640> that<01:36:31.760> they 01:36:32.320 --> 01:36:32.330 align:start position:0% a consensus model we just felt that they 01:36:32.330 --> 01:36:35.530 align:start position:0% a consensus model we just felt that they need<01:36:32.510> to<01:36:32.660> be<01:36:33.580> a<01:36:34.580> great<01:36:35.090> level<01:36:35.420> of 01:36:35.530 --> 01:36:35.540 align:start position:0% need to be a great level of 01:36:35.540 --> 01:36:37.810 align:start position:0% need to be a great level of democratization<01:36:36.230> in<01:36:37.010> the<01:36:37.340> governance 01:36:37.810 --> 01:36:37.820 align:start position:0% democratization in the governance 01:36:37.820 --> 01:36:45.850 align:start position:0% democratization in the governance process<01:36:43.150> okay<01:36:44.150> so<01:36:44.210> in<01:36:44.900> the<01:36:45.050> context<01:36:45.469> of<01:36:45.530> coin 01:36:45.850 --> 01:36:45.860 align:start position:0% process okay so in the context of coin 01:36:45.860 --> 01:36:47.709 align:start position:0% process okay so in the context of coin will<01:36:46.040> have<01:36:46.160> led<01:36:46.310> to<01:36:46.340> a<01:36:46.520> governance<01:36:47.000> of<01:36:47.360> course 01:36:47.709 --> 01:36:47.719 align:start position:0% will have led to a governance of course 01:36:47.719 --> 01:36:49.870 align:start position:0% will have led to a governance of course the<01:36:48.050> the<01:36:48.410> distribution<01:36:49.190> of<01:36:49.370> the<01:36:49.489> currency 01:36:49.870 --> 01:36:49.880 align:start position:0% the the distribution of the currency 01:36:49.880 --> 01:36:52.900 align:start position:0% the the distribution of the currency itself<01:36:49.969> is<01:36:50.750> incredibly<01:36:51.410> important<01:36:51.949> and 01:36:52.900 --> 01:36:52.910 align:start position:0% itself is incredibly important and 01:36:52.910 --> 01:36:55.000 align:start position:0% itself is incredibly important and that's<01:36:53.150> why<01:36:53.330> earlier<01:36:53.540> I<01:36:53.810> stress<01:36:54.320> that<01:36:54.620> the<01:36:54.800> for 01:36:55.000 --> 01:36:55.010 align:start position:0% that's why earlier I stress that the for 01:36:55.010 --> 01:36:56.680 align:start position:0% that's why earlier I stress that the for us<01:36:55.100> governance<01:36:55.580> wasn't<01:36:55.940> enough<01:36:56.179> Authority 01:36:56.680 --> 01:36:56.690 align:start position:0% us governance wasn't enough Authority 01:36:56.690 --> 01:36:59.709 align:start position:0% us governance wasn't enough Authority something<01:36:57.080> was<01:36:57.199> very<01:36:57.230> carefully<01:36:58.040> planned<01:36:58.719> and 01:36:59.709 --> 01:36:59.719 align:start position:0% something was very carefully planned and 01:36:59.719 --> 01:37:02.979 align:start position:0% something was very carefully planned and the<01:37:00.050> hybrid<01:37:00.469> model<01:37:00.710> and<01:37:01.270> the<01:37:02.270> distribution<01:37:02.690> of 01:37:02.979 --> 01:37:02.989 align:start position:0% the hybrid model and the distribution of 01:37:02.989 --> 01:37:04.689 align:start position:0% the hybrid model and the distribution of the<01:37:03.110> block<01:37:03.320> reward<01:37:03.500> was<01:37:03.949> carefully<01:37:04.400> planned 01:37:04.689 --> 01:37:04.699 align:start position:0% the block reward was carefully planned 01:37:04.699 --> 01:37:08.110 align:start position:0% the block reward was carefully planned such<01:37:05.090> that<01:37:05.560> would<01:37:06.560> have<01:37:06.770> as<01:37:07.100> wide<01:37:07.429> and<01:37:07.699> as<01:37:07.820> fair 01:37:08.110 --> 01:37:08.120 align:start position:0% such that would have as wide and as fair 01:37:08.120 --> 01:37:11.320 align:start position:0% such that would have as wide and as fair as<01:37:08.570> possible<01:37:09.199> of<01:37:10.100> a<01:37:10.340> initial<01:37:10.940> acquaintance 01:37:11.320 --> 01:37:11.330 align:start position:0% as possible of a initial acquaintance 01:37:11.330 --> 01:37:14.140 align:start position:0% as possible of a initial acquaintance distribution<01:37:11.900> and<01:37:12.590> it's<01:37:13.580> also<01:37:13.790> for<01:37:14.060> this 01:37:14.140 --> 01:37:14.150 align:start position:0% distribution and it's also for this 01:37:14.150 --> 01:37:18.340 align:start position:0% distribution and it's also for this reason<01:37:14.210> that<01:37:14.660> I<01:37:15.199> kind<01:37:15.980> of<01:37:16.690> urged<01:37:17.690> the<01:37:17.929> etherion 01:37:18.340 --> 01:37:18.350 align:start position:0% reason that I kind of urged the etherion 01:37:18.350 --> 01:37:20.020 align:start position:0% reason that I kind of urged the etherion community<01:37:18.739> not<01:37:18.980> to<01:37:19.010> give<01:37:19.340> up<01:37:19.489> on<01:37:19.670> proof<01:37:19.910> of 01:37:20.020 --> 01:37:20.030 align:start position:0% community not to give up on proof of 01:37:20.030 --> 01:37:23.470 align:start position:0% community not to give up on proof of work<01:37:20.179> just<01:37:20.840> yet<01:37:21.340> because<01:37:22.340> it's<01:37:23.000> an<01:37:23.120> incredibly 01:37:23.470 --> 01:37:23.480 align:start position:0% work just yet because it's an incredibly 01:37:23.480 --> 01:37:27.100 align:start position:0% work just yet because it's an incredibly effective<01:37:23.870> tool<01:37:24.560> for<01:37:25.060> implementing<01:37:26.060> fair<01:37:26.929> and 01:37:27.100 --> 01:37:27.110 align:start position:0% effective tool for implementing fair and 01:37:27.110 --> 01:37:29.439 align:start position:0% effective tool for implementing fair and litecoin<01:37:27.350> distributions<01:37:28.340> so<01:37:29.090> certainly 01:37:29.439 --> 01:37:29.449 align:start position:0% litecoin distributions so certainly 01:37:29.449 --> 01:37:32.470 align:start position:0% litecoin distributions so certainly considering<01:37:30.110> a<01:37:31.040> point<01:37:32.030> hopeful<01:37:32.330> that 01:37:32.470 --> 01:37:32.480 align:start position:0% considering a point hopeful that 01:37:32.480 --> 01:37:35.620 align:start position:0% considering a point hopeful that governance<01:37:33.020> model<01:37:33.410> it's<01:37:34.300> not<01:37:35.300> something<01:37:35.600> that 01:37:35.620 --> 01:37:35.630 align:start position:0% governance model it's not something that 01:37:35.630 --> 01:37:37.150 align:start position:0% governance model it's not something that I<01:37:35.780> would<01:37:35.960> recommend<01:37:36.080> moving<01:37:36.650> away<01:37:36.739> from<01:37:36.890> just 01:37:37.150 --> 01:37:37.160 align:start position:0% I would recommend moving away from just 01:37:37.160 --> 01:37:40.840 align:start position:0% I would recommend moving away from just yet<01:37:38.620> but<01:37:39.620> something<01:37:39.830> else<01:37:40.070> that's<01:37:40.280> oftentimes 01:37:40.840 --> 01:37:40.850 align:start position:0% yet but something else that's oftentimes 01:37:40.850 --> 01:37:42.880 align:start position:0% yet but something else that's oftentimes overlooked<01:37:41.330> with<01:37:41.810> proof<01:37:42.080> of<01:37:42.199> work<01:37:42.350> is<01:37:42.590> that<01:37:42.800> it 01:37:42.880 --> 01:37:42.890 align:start position:0% overlooked with proof of work is that it 01:37:42.890 --> 01:37:44.860 align:start position:0% overlooked with proof of work is that it extends<01:37:43.310> a<01:37:43.489> lifeline<01:37:44.030> for<01:37:44.060> those<01:37:44.390> who<01:37:44.660> might 01:37:44.860 --> 01:37:44.870 align:start position:0% extends a lifeline for those who might 01:37:44.870 --> 01:37:48.130 align:start position:0% extends a lifeline for those who might be<01:37:44.900> relatively<01:37:45.500> persecuted<01:37:46.300> so<01:37:47.300> I<01:37:47.660> suspect 01:37:48.130 --> 01:37:48.140 align:start position:0% be relatively persecuted so I suspect 01:37:48.140 --> 01:37:49.600 align:start position:0% be relatively persecuted so I suspect that<01:37:48.199> for<01:37:48.320> many<01:37:48.679> of<01:37:48.770> us<01:37:48.980> who<01:37:49.160> are<01:37:49.250> probably 01:37:49.600 --> 01:37:49.610 align:start position:0% that for many of us who are probably 01:37:49.610 --> 01:37:51.550 align:start position:0% that for many of us who are probably pretty<01:37:49.850> fortunate<01:37:50.300> to<01:37:50.750> have<01:37:50.870> the<01:37:51.050> Liberty<01:37:51.530> to 01:37:51.550 --> 01:37:51.560 align:start position:0% pretty fortunate to have the Liberty to 01:37:51.560 --> 01:37:53.520 align:start position:0% pretty fortunate to have the Liberty to pursue<01:37:52.100> an<01:37:52.429> interest<01:37:52.670> in<01:37:52.880> cryptocurrencies 01:37:53.520 --> 01:37:53.530 align:start position:0% pursue an interest in cryptocurrencies 01:37:53.530 --> 01:37:56.110 align:start position:0% pursue an interest in cryptocurrencies but<01:37:54.530> for<01:37:54.770> a<01:37:54.800> lot<01:37:55.070> of<01:37:55.100> people<01:37:55.550> around<01:37:55.760> the<01:37:55.910> world 01:37:56.110 --> 01:37:56.120 align:start position:0% but for a lot of people around the world 01:37:56.120 --> 01:37:56.950 align:start position:0% but for a lot of people around the world they<01:37:56.390> don't 01:37:56.950 --> 01:37:56.960 align:start position:0% they don't 01:37:56.960 --> 01:38:00.400 align:start position:0% they don't that<01:37:57.260> luxury<01:37:57.760> and<01:37:58.760> for<01:37:59.150> many<01:37:59.300> of<01:37:59.450> them<01:37:59.690> the 01:38:00.400 --> 01:38:00.410 align:start position:0% that luxury and for many of them the 01:38:00.410 --> 01:38:02.650 align:start position:0% that luxury and for many of them the idea<01:38:00.770> of<01:38:00.830> having<01:38:01.100> to<01:38:01.430> submit<01:38:01.640> your<01:38:01.970> personal 01:38:02.650 --> 01:38:02.660 align:start position:0% idea of having to submit your personal 01:38:02.660 --> 01:38:05.340 align:start position:0% idea of having to submit your personal identity<01:38:03.350> in<01:38:03.680> order<01:38:03.830> to<01:38:04.040> participate<01:38:04.370> in<01:38:04.880> ICO 01:38:05.340 --> 01:38:05.350 align:start position:0% identity in order to participate in ICO 01:38:05.350 --> 01:38:10.960 align:start position:0% identity in order to participate in ICO or<01:38:06.350> to<01:38:06.980> access<01:38:07.850> an<01:38:08.270> exchange<01:38:08.720> platform<01:38:09.970> can 01:38:10.960 --> 01:38:10.970 align:start position:0% or to access an exchange platform can 01:38:10.970 --> 01:38:13.360 align:start position:0% or to access an exchange platform can oftentimes<01:38:11.300> be<01:38:11.630> putting<01:38:12.140> their<01:38:12.470> either<01:38:13.130> their 01:38:13.360 --> 01:38:13.370 align:start position:0% oftentimes be putting their either their 01:38:13.370 --> 01:38:15.510 align:start position:0% oftentimes be putting their either their liberty<01:38:13.790> or<01:38:14.030> even<01:38:14.270> their<01:38:14.390> lives<01:38:14.570> at<01:38:14.870> risk 01:38:15.510 --> 01:38:15.520 align:start position:0% liberty or even their lives at risk 01:38:15.520 --> 01:38:17.710 align:start position:0% liberty or even their lives at risk and<01:38:16.520> so<01:38:16.640> something<01:38:16.820> that<01:38:16.940> oftentimes<01:38:17.450> gets 01:38:17.710 --> 01:38:17.720 align:start position:0% and so something that oftentimes gets 01:38:17.720 --> 01:38:20.350 align:start position:0% and so something that oftentimes gets overlooked<01:38:18.440> about<01:38:18.770> proof-of-work<01:38:19.220> mining<01:38:19.790> is 01:38:20.350 --> 01:38:20.360 align:start position:0% overlooked about proof-of-work mining is 01:38:20.360 --> 01:38:21.940 align:start position:0% overlooked about proof-of-work mining is it<01:38:20.510> actually<01:38:20.870> provides<01:38:21.260> a<01:38:21.440> discrete 01:38:21.940 --> 01:38:21.950 align:start position:0% it actually provides a discrete 01:38:21.950 --> 01:38:24.900 align:start position:0% it actually provides a discrete mechanism<01:38:22.670> for<01:38:23.000> individuals<01:38:23.600> to<01:38:23.990> obtain 01:38:24.900 --> 01:38:24.910 align:start position:0% mechanism for individuals to obtain 01:38:24.910 --> 01:38:28.870 align:start position:0% mechanism for individuals to obtain cryptocurrency<01:38:26.230> using<01:38:27.230> hardware<01:38:27.950> as<01:38:28.250> a<01:38:28.280> proxy 01:38:28.870 --> 01:38:28.880 align:start position:0% cryptocurrency using hardware as a proxy 01:38:28.880 --> 01:38:33.970 align:start position:0% cryptocurrency using hardware as a proxy and<01:38:31.540> then<01:38:32.540> so<01:38:32.750> in<01:38:32.870> the<01:38:32.960> context<01:38:33.470> of<01:38:33.560> a<01:38:33.680> point 01:38:33.970 --> 01:38:33.980 align:start position:0% and then so in the context of a point 01:38:33.980 --> 01:38:35.320 align:start position:0% and then so in the context of a point quite<01:38:34.340> all<01:38:34.520> the<01:38:34.640> Landtag 01:38:35.320 --> 01:38:35.330 align:start position:0% quite all the Landtag 01:38:35.330 --> 01:38:37.540 align:start position:0% quite all the Landtag a<01:38:35.690> government<01:38:36.380> system<01:38:36.500> what<01:38:36.890> you<01:38:36.980> really<01:38:37.220> want 01:38:37.540 --> 01:38:37.550 align:start position:0% a government system what you really want 01:38:37.550 --> 01:38:41.500 align:start position:0% a government system what you really want to<01:38:37.670> have<01:38:38.560> democratize<01:38:40.030> access<01:38:41.030> to<01:38:41.420> the 01:38:41.500 --> 01:38:41.510 align:start position:0% to have democratize access to the 01:38:41.510 --> 01:38:43.960 align:start position:0% to have democratize access to the consumer<01:38:41.990> for<01:38:42.440> the<01:38:42.740> governance<01:38:43.580> process 01:38:43.960 --> 01:38:43.970 align:start position:0% consumer for the governance process 01:38:43.970 --> 01:38:49.930 align:start position:0% consumer for the governance process again<01:38:44.390> for<01:38:44.630> the<01:38:44.720> work<01:38:44.930> is<01:38:45.200> excellent<01:38:48.760> so<01:38:49.760> just 01:38:49.930 --> 01:38:49.940 align:start position:0% again for the work is excellent so just 01:38:49.940 --> 01:38:55.180 align:start position:0% again for the work is excellent so just a<01:38:50.000> few<01:38:50.150> closing<01:38:50.420> thoughts<01:38:50.650> before<01:38:51.650> we<01:38:52.480> end<01:38:54.190> for 01:38:55.180 --> 01:38:55.190 align:start position:0% a few closing thoughts before we end for 01:38:55.190 --> 01:38:56.410 align:start position:0% a few closing thoughts before we end for those<01:38:55.250> of<01:38:55.460> you<01:38:55.580> that<01:38:55.730> are<01:38:55.970> considering 01:38:56.410 --> 01:38:56.420 align:start position:0% those of you that are considering 01:38:56.420 --> 01:38:58.540 align:start position:0% those of you that are considering implementing<01:38:57.130> coin<01:38:58.130> all<01:38:58.310> the<01:38:58.400> lead 01:38:58.540 --> 01:38:58.550 align:start position:0% implementing coin all the lead 01:38:58.550 --> 01:39:02.260 align:start position:0% implementing coin all the lead governance<01:38:59.030> systems<01:38:59.830> a<01:39:00.830> few<01:39:01.820> suggestions 01:39:02.260 --> 01:39:02.270 align:start position:0% governance systems a few suggestions 01:39:02.270 --> 01:39:06.220 align:start position:0% governance systems a few suggestions that<01:39:02.630> I<01:39:02.720> would<01:39:02.870> have<01:39:03.050> is<01:39:04.960> implementing<01:39:05.960> a<01:39:06.020> coin 01:39:06.220 --> 01:39:06.230 align:start position:0% that I would have is implementing a coin 01:39:06.230 --> 01:39:07.840 align:start position:0% that I would have is implementing a coin coin<01:39:06.590> holder<01:39:06.890> that<01:39:07.040> government<01:39:07.460> system 01:39:07.840 --> 01:39:07.850 align:start position:0% coin holder that government system 01:39:07.850 --> 01:39:09.810 align:start position:0% coin holder that government system becomes<01:39:08.380> exponentially<01:39:09.380> more<01:39:09.530> difficult 01:39:09.810 --> 01:39:09.820 align:start position:0% becomes exponentially more difficult 01:39:09.820 --> 01:39:13.990 align:start position:0% becomes exponentially more difficult after<01:39:10.820> you've<01:39:11.300> released<01:39:11.660> your<01:39:12.080> protocol<01:39:13.000> so 01:39:13.990 --> 01:39:14.000 align:start position:0% after you've released your protocol so 01:39:14.000 --> 01:39:17.440 align:start position:0% after you've released your protocol so if<01:39:14.660> you<01:39:14.900> if<01:39:15.230> you<01:39:15.440> can<01:39:15.740> try<01:39:16.490> to<01:39:16.520> really<01:39:17.060> really 01:39:17.440 --> 01:39:17.450 align:start position:0% if you if you can try to really really 01:39:17.450 --> 01:39:19.720 align:start position:0% if you if you can try to really really carefully<01:39:18.080> plan<01:39:18.530> out<01:39:18.560> your<01:39:18.770> initial<01:39:19.310> pointers 01:39:19.720 --> 01:39:19.730 align:start position:0% carefully plan out your initial pointers 01:39:19.730 --> 01:39:22.510 align:start position:0% carefully plan out your initial pointers distribution<01:39:20.600> and<01:39:21.320> your<01:39:21.590> governance<01:39:22.040> process 01:39:22.510 --> 01:39:22.520 align:start position:0% distribution and your governance process 01:39:22.520 --> 01:39:27.600 align:start position:0% distribution and your governance process before<01:39:22.760> you<01:39:23.030> launch<01:39:24.520> the<01:39:25.520> second<01:39:25.850> one<01:39:26.000> is<01:39:26.390> that 01:39:27.600 --> 01:39:27.610 align:start position:0% before you launch the second one is that 01:39:27.610 --> 01:39:30.460 align:start position:0% before you launch the second one is that to<01:39:28.610> make<01:39:29.120> sure<01:39:29.300> that<01:39:29.570> you<01:39:29.750> consider<01:39:30.140> your 01:39:30.460 --> 01:39:30.470 align:start position:0% to make sure that you consider your 01:39:30.470 --> 01:39:33.340 align:start position:0% to make sure that you consider your projects<01:39:30.920> ongoing<01:39:31.700> resourcing<01:39:32.300> so<01:39:32.990> I<01:39:33.020> think<01:39:33.140> a 01:39:33.340 --> 01:39:33.350 align:start position:0% projects ongoing resourcing so I think a 01:39:33.350 --> 01:39:36.460 align:start position:0% projects ongoing resourcing so I think a lot<01:39:33.590> of<01:39:33.620> a<01:39:33.920> lot<01:39:34.700> of<01:39:34.730> projects<01:39:35.180> that<01:39:35.270> I<01:39:35.390> see<01:39:35.630> you 01:39:36.460 --> 01:39:36.470 align:start position:0% lot of a lot of projects that I see you 01:39:36.470 --> 01:39:38.080 align:start position:0% lot of a lot of projects that I see you know<01:39:36.560> particularly<01:39:37.040> ones<01:39:37.580> that<01:39:37.700> are<01:39:37.820> raising 01:39:38.080 --> 01:39:38.090 align:start position:0% know particularly ones that are raising 01:39:38.090 --> 01:39:40.419 align:start position:0% know particularly ones that are raising outrageous<01:39:38.960> amounts<01:39:39.320> of<01:39:39.440> money 01:39:40.419 --> 01:39:40.429 align:start position:0% outrageous amounts of money 01:39:40.429 --> 01:39:44.350 align:start position:0% outrageous amounts of money in<01:39:40.820> the<01:39:41.210> form<01:39:41.449> of<01:39:41.539> an<01:39:41.630> ICO<01:39:41.960> is<01:39:42.969> the<01:39:43.969> path<01:39:44.210> across 01:39:44.350 --> 01:39:44.360 align:start position:0% in the form of an ICO is the path across 01:39:44.360 --> 01:39:47.399 align:start position:0% in the form of an ICO is the path across that<01:39:44.719> just<01:39:45.079> provides<01:39:45.530> instant<01:39:46.190> gratification 01:39:47.399 --> 01:39:47.409 align:start position:0% that just provides instant gratification 01:39:47.409 --> 01:39:49.209 align:start position:0% that just provides instant gratification something<01:39:48.409> that<01:39:48.559> a<01:39:48.770> lot<01:39:49.010> of<01:39:49.099> them<01:39:49.190> probably 01:39:49.209 --> 01:39:49.219 align:start position:0% something that a lot of them probably 01:39:49.219 --> 01:39:50.979 align:start position:0% something that a lot of them probably are<01:39:49.579> considering<01:39:50.210> is<01:39:50.300> that<01:39:50.449> those<01:39:50.599> resources 01:39:50.979 --> 01:39:50.989 align:start position:0% are considering is that those resources 01:39:50.989 --> 01:39:54.520 align:start position:0% are considering is that those resources can<01:39:51.349> actually<01:39:51.739> go<01:39:52.460> like<01:39:52.849> with<01:39:53.150> it<01:39:53.409> and<01:39:54.409> then 01:39:54.520 --> 01:39:54.530 align:start position:0% can actually go like with it and then 01:39:54.530 --> 01:39:56.950 align:start position:0% can actually go like with it and then you<01:39:54.590> can<01:39:54.770> find<01:39:55.730> yourself<01:39:56.059> in<01:39:56.210> the<01:39:56.270> Paris 01:39:56.950 --> 01:39:56.960 align:start position:0% you can find yourself in the Paris 01:39:56.960 --> 01:40:00.430 align:start position:0% you can find yourself in the Paris situation<01:39:57.320> of<01:39:58.329> having<01:39:59.329> financial<01:40:00.020> pressures 01:40:00.430 --> 01:40:00.440 align:start position:0% situation of having financial pressures 01:40:00.440 --> 01:40:02.799 align:start position:0% situation of having financial pressures being<01:40:00.710> applied<01:40:01.039> from<01:40:01.460> external<01:40:02.150> special 01:40:02.799 --> 01:40:02.809 align:start position:0% being applied from external special 01:40:02.809 --> 01:40:06.939 align:start position:0% being applied from external special interest<01:40:03.139> groups<01:40:04.750> which<01:40:05.750> can<01:40:06.110> get<01:40:06.619> in<01:40:06.739> the<01:40:06.829> way 01:40:06.939 --> 01:40:06.949 align:start position:0% interest groups which can get in the way 01:40:06.949 --> 01:40:10.209 align:start position:0% interest groups which can get in the way of<01:40:06.980> your<01:40:07.460> governance<01:40:08.059> process<01:40:08.599> so<01:40:09.530> for<01:40:09.770> us<01:40:09.920> we 01:40:10.209 --> 01:40:10.219 align:start position:0% of your governance process so for us we 01:40:10.219 --> 01:40:13.209 align:start position:0% of your governance process so for us we had<01:40:10.460> 10%<01:40:10.880> of<01:40:11.360> that<01:40:11.389> of<01:40:12.260> our<01:40:12.440> local<01:40:12.800> Lord<01:40:13.010> goes 01:40:13.209 --> 01:40:13.219 align:start position:0% had 10% of that of our local Lord goes 01:40:13.219 --> 01:40:15.729 align:start position:0% had 10% of that of our local Lord goes into<01:40:13.550> a<01:40:13.579> decentralized<01:40:14.239> Treasury<01:40:14.690> fund<01:40:14.960> and 01:40:15.729 --> 01:40:15.739 align:start position:0% into a decentralized Treasury fund and 01:40:15.739 --> 01:40:17.439 align:start position:0% into a decentralized Treasury fund and that's<01:40:15.889> why<01:40:16.130> they<01:40:16.280> off<01:40:16.460> chain<01:40:16.789> component 01:40:17.439 --> 01:40:17.449 align:start position:0% that's why they off chain component 01:40:17.449 --> 01:40:20.410 align:start position:0% that's why they off chain component about<01:40:17.630> governance<01:40:18.199> comes<01:40:18.440> into<01:40:18.710> play<01:40:19.420> we 01:40:20.410 --> 01:40:20.420 align:start position:0% about governance comes into play we 01:40:20.420 --> 01:40:22.930 align:start position:0% about governance comes into play we released<01:40:20.750> a<01:40:21.010> governance<01:40:22.010> platform<01:40:22.610> we<01:40:22.730> call 01:40:22.930 --> 01:40:22.940 align:start position:0% released a governance platform we call 01:40:22.940 --> 01:40:26.589 align:start position:0% released a governance platform we call polity<01:40:23.500> and<01:40:24.500> so<01:40:24.679> Claudia<01:40:25.010> is<01:40:25.699> the<01:40:26.000> Greek<01:40:26.329> word 01:40:26.589 --> 01:40:26.599 align:start position:0% polity and so Claudia is the Greek word 01:40:26.599 --> 01:40:29.260 align:start position:0% polity and so Claudia is the Greek word for<01:40:26.630> a<01:40:27.020> system<01:40:27.710> or<01:40:28.010> ancient<01:40:28.219> return<01:40:28.849> for<01:40:29.239> a 01:40:29.260 --> 01:40:29.270 align:start position:0% for a system or ancient return for a 01:40:29.270 --> 01:40:32.620 align:start position:0% for a system or ancient return for a system<01:40:29.989> of<01:40:30.050> government<01:40:30.429> and<01:40:31.429> politics<01:40:32.360> just 01:40:32.620 --> 01:40:32.630 align:start position:0% system of government and politics just 01:40:32.630 --> 01:40:35.979 align:start position:0% system of government and politics just interface<01:40:33.349> where<01:40:34.179> stakeholders<01:40:35.179> can<01:40:35.480> vote<01:40:35.719> on 01:40:35.979 --> 01:40:35.989 align:start position:0% interface where stakeholders can vote on 01:40:35.989 --> 01:40:37.930 align:start position:0% interface where stakeholders can vote on where<01:40:36.559> the<01:40:36.710> various<01:40:37.099> different<01:40:37.460> funds<01:40:37.699> get 01:40:37.930 --> 01:40:37.940 align:start position:0% where the various different funds get 01:40:37.940 --> 01:40:40.390 align:start position:0% where the various different funds get allocated<01:40:38.510> to<01:40:38.719> and<01:40:39.230> funds<01:40:39.949> our<01:40:40.130> ongoing 01:40:40.390 --> 01:40:40.400 align:start position:0% allocated to and funds our ongoing 01:40:40.400 --> 01:40:45.760 align:start position:0% allocated to and funds our ongoing operation<01:40:42.010> contribution<01:40:43.010> efforts<01:40:44.559> so<01:40:45.559> if<01:40:45.679> you 01:40:45.760 --> 01:40:45.770 align:start position:0% operation contribution efforts so if you 01:40:45.770 --> 01:40:47.500 align:start position:0% operation contribution efforts so if you want<01:40:45.980> more<01:40:46.190> with<01:40:46.489> where<01:40:46.849> can<01:40:47.000> you<01:40:47.090> go<01:40:47.210> to<01:40:47.270> find 01:40:47.500 --> 01:40:47.510 align:start position:0% want more with where can you go to find 01:40:47.510 --> 01:40:48.910 align:start position:0% want more with where can you go to find out<01:40:47.630> a<01:40:47.690> little<01:40:47.780> bit<01:40:47.929> more<01:40:48.139> information 01:40:48.910 --> 01:40:48.920 align:start position:0% out a little bit more information 01:40:48.920 --> 01:40:51.430 align:start position:0% out a little bit more information definitely<01:40:49.699> the<01:40:50.110> documentation<01:40:51.110> is<01:40:51.260> your 01:40:51.430 --> 01:40:51.440 align:start position:0% definitely the documentation is your 01:40:51.440 --> 01:40:53.500 align:start position:0% definitely the documentation is your best<01:40:51.619> resource<01:40:51.710> we<01:40:52.429> don't<01:40:52.699> actually<01:40:53.000> have<01:40:53.239> a 01:40:53.500 --> 01:40:53.510 align:start position:0% best resource we don't actually have a 01:40:53.510 --> 01:40:55.270 align:start position:0% best resource we don't actually have a white<01:40:53.869> paper<01:40:54.050> so<01:40:54.409> this<01:40:54.500> is<01:40:54.650> the<01:40:54.770> closest<01:40:55.159> thing 01:40:55.270 --> 01:40:55.280 align:start position:0% white paper so this is the closest thing 01:40:55.280 --> 01:40:58.629 align:start position:0% white paper so this is the closest thing to<01:40:55.340> it<01:40:56.079> the<01:40:57.079> next<01:40:57.230> best<01:40:57.530> resource<01:40:58.010> we<01:40:58.369> are<01:40:58.460> all 01:40:58.629 --> 01:40:58.639 align:start position:0% to it the next best resource we are all 01:40:58.639 --> 01:41:02.439 align:start position:0% to it the next best resource we are all form<01:40:58.940> and<01:40:59.150> form<01:40:59.539> and<01:40:59.929> our<01:41:00.079> credit<01:41:00.739> and<01:41:01.429> then<01:41:02.329> of 01:41:02.439 --> 01:41:02.449 align:start position:0% form and form and our credit and then of 01:41:02.449 --> 01:41:04.450 align:start position:0% form and form and our credit and then of course<01:41:02.690> our<01:41:02.869> bridge<01:41:03.230> comes<01:41:03.590> so<01:41:03.980> the<01:41:04.280> bridge 01:41:04.450 --> 01:41:04.460 align:start position:0% course our bridge comes so the bridge 01:41:04.460 --> 01:41:06.100 align:start position:0% course our bridge comes so the bridge communications<01:41:05.150> channels<01:41:05.539> are<01:41:05.659> kind<01:41:05.869> of<01:41:05.900> cold 01:41:06.100 --> 01:41:06.110 align:start position:0% communications channels are kind of cold 01:41:06.110 --> 01:41:08.529 align:start position:0% communications channels are kind of cold we<01:41:06.739> actually<01:41:07.070> have<01:41:07.280> our<01:41:07.400> slack<01:41:07.849> discordant 01:41:08.529 --> 01:41:08.539 align:start position:0% we actually have our slack discordant 01:41:08.539 --> 01:41:10.600 align:start position:0% we actually have our slack discordant majors<01:41:08.929> chats<01:41:09.349> all<01:41:09.710> bridge<01:41:10.039> together<01:41:10.219> so 01:41:10.600 --> 01:41:10.610 align:start position:0% majors chats all bridge together so 01:41:10.610 --> 01:41:12.370 align:start position:0% majors chats all bridge together so message<01:41:11.059> on<01:41:11.210> one<01:41:11.449> will<01:41:11.659> show<01:41:11.780> up<01:41:11.929> on<01:41:12.110> all<01:41:12.230> the 01:41:12.370 --> 01:41:12.380 align:start position:0% message on one will show up on all the 01:41:12.380 --> 01:41:14.740 align:start position:0% message on one will show up on all the others<01:41:12.590> and<01:41:13.010> this<01:41:13.670> is<01:41:13.849> a<01:41:13.880> really<01:41:14.239> cool<01:41:14.570> place 01:41:14.740 --> 01:41:14.750 align:start position:0% others and this is a really cool place 01:41:14.750 --> 01:41:16.419 align:start position:0% others and this is a really cool place to<01:41:14.840> hang<01:41:15.110> out<01:41:15.260> because<01:41:15.619> this<01:41:15.770> is<01:41:15.829> what<01:41:16.039> you<01:41:16.159> see 01:41:16.419 --> 01:41:16.429 align:start position:0% to hang out because this is what you see 01:41:16.429 --> 01:41:18.279 align:start position:0% to hang out because this is what you see all<01:41:16.639> about<01:41:16.789> governance<01:41:17.420> activities<01:41:17.570> being 01:41:18.279 --> 01:41:18.289 align:start position:0% all about governance activities being 01:41:18.289 --> 01:41:20.560 align:start position:0% all about governance activities being and<01:41:18.559> operations<01:41:19.099> being<01:41:19.489> coordinated<01:41:19.849> in<01:41:20.239> real 01:41:20.560 --> 01:41:20.570 align:start position:0% and operations being coordinated in real 01:41:20.570 --> 01:41:22.020 align:start position:0% and operations being coordinated in real time<01:41:20.840> it's<01:41:21.110> very<01:41:21.230> transparent 01:41:22.020 --> 01:41:22.030 align:start position:0% time it's very transparent 01:41:22.030 --> 01:41:30.390 align:start position:0% time it's very transparent very<01:41:22.270> cool<01:41:24.330> and<01:41:25.860> finally<01:41:26.860> Cohen<01:41:27.850> stated<01:41:29.400> just 01:41:30.390 --> 01:41:30.400 align:start position:0% very cool and finally Cohen stated just 01:41:30.400 --> 01:41:32.880 align:start position:0% very cool and finally Cohen stated just something<01:41:31.000> that<01:41:31.330> I<01:41:31.630> really<01:41:31.930> would<01:41:32.020> have<01:41:32.170> urged 01:41:32.880 --> 01:41:32.890 align:start position:0% something that I really would have urged 01:41:32.890 --> 01:41:35.760 align:start position:0% something that I really would have urged before<01:41:33.400> we<01:41:33.520> end<01:41:33.670> is<01:41:34.050> don't<01:41:35.050> move<01:41:35.260> mustn't 01:41:35.760 --> 01:41:35.770 align:start position:0% before we end is don't move mustn't 01:41:35.770 --> 01:41:37.920 align:start position:0% before we end is don't move mustn't break<01:41:35.890> things<01:41:36.330> that<01:41:37.330> we<01:41:37.480> should<01:41:37.660> sort<01:41:37.840> of 01:41:37.920 --> 01:41:37.930 align:start position:0% break things that we should sort of 01:41:37.930 --> 01:41:39.690 align:start position:0% break things that we should sort of transition<01:41:38.410> away<01:41:38.530> from<01:41:38.890> that<01:41:39.070> Silicon<01:41:39.670> Valley 01:41:39.690 --> 01:41:39.700 align:start position:0% transition away from that Silicon Valley 01:41:39.700 --> 01:41:43.320 align:start position:0% transition away from that Silicon Valley mentality<01:41:41.220> shift<01:41:42.220> quality<01:41:42.460> code<01:41:42.910> and 01:41:43.320 --> 01:41:43.330 align:start position:0% mentality shift quality code and 01:41:43.330 --> 01:41:47.120 align:start position:0% mentality shift quality code and considered<01:41:43.960> some<01:41:44.140> implications<01:41:45.070> because 01:41:47.120 --> 01:41:47.130 align:start position:0% considered some implications because 01:41:47.130 --> 01:41:50.010 align:start position:0% considered some implications because implementing<01:41:48.130> major<01:41:48.550> consensus<01:41:49.270> changes<01:41:49.750> in 01:41:50.010 --> 01:41:50.020 align:start position:0% implementing major consensus changes in 01:41:50.020 --> 01:41:52.800 align:start position:0% implementing major consensus changes in this<01:41:50.200> space<01:41:50.470> is<01:41:50.770> not<01:41:51.130> easy<01:41:51.520> it's<01:41:52.000> not<01:41:52.270> it's<01:41:52.660> not 01:41:52.800 --> 01:41:52.810 align:start position:0% this space is not easy it's not it's not 01:41:52.810 --> 01:41:55.770 align:start position:0% this space is not easy it's not it's not quick<01:41:53.110> and<01:41:53.700> no<01:41:54.700> matter<01:41:54.850> how<01:41:55.150> would<01:41:55.420> we<01:41:55.570> make 01:41:55.770 --> 01:41:55.780 align:start position:0% quick and no matter how would we make 01:41:55.780 --> 01:41:57.180 align:start position:0% quick and no matter how would we make our<01:41:55.960> government<01:41:56.320> systems<01:41:56.710> I<01:41:56.860> don't<01:41:57.040> think 01:41:57.180 --> 01:41:57.190 align:start position:0% our government systems I don't think 01:41:57.190 --> 01:42:02.160 align:start position:0% our government systems I don't think it's<01:41:57.310> ever<01:41:57.520> going<01:41:57.820> to<01:41:58.060> do<01:42:00.060> so<01:42:01.060> really<01:42:01.990> really 01:42:02.160 --> 01:42:02.170 align:start position:0% it's ever going to do so really really 01:42:02.170 --> 01:42:04.110 align:start position:0% it's ever going to do so really really carefully<01:42:02.770> consider<01:42:03.190> code<01:42:03.460> before<01:42:03.670> you<01:42:03.850> Shiva 01:42:04.110 --> 01:42:04.120 align:start position:0% carefully consider code before you Shiva 01:42:04.120 --> 01:42:06.990 align:start position:0% carefully consider code before you Shiva and<01:42:04.500> don't<01:42:05.500> compromise<01:42:05.980> you<01:42:06.640> know<01:42:06.730> don't 01:42:06.990 --> 01:42:07.000 align:start position:0% and don't compromise you know don't 01:42:07.000 --> 01:42:10.200 align:start position:0% and don't compromise you know don't compromise<01:42:07.420> to<01:42:07.810> fit<01:42:08.280> gimmicky<01:42:09.280> you<01:42:10.120> know 01:42:10.200 --> 01:42:10.210 align:start position:0% compromise to fit gimmicky you know 01:42:10.210 --> 01:42:12.210 align:start position:0% compromise to fit gimmicky you know outrageous<01:42:10.930> transaction<01:42:11.530> throughput<01:42:12.100> and 01:42:12.210 --> 01:42:12.220 align:start position:0% outrageous transaction throughput and 01:42:12.220 --> 01:42:13.230 align:start position:0% outrageous transaction throughput and silly<01:42:12.490> features 01:42:13.230 --> 01:42:13.240 align:start position:0% silly features 01:42:13.240 --> 01:42:14.880 align:start position:0% silly features don't<01:42:13.690> forget<01:42:13.930> what<01:42:14.080> we're<01:42:14.230> here<01:42:14.380> for<01:42:14.620> it's 01:42:14.880 --> 01:42:14.890 align:start position:0% don't forget what we're here for it's 01:42:14.890 --> 01:42:16.260 align:start position:0% don't forget what we're here for it's censorship<01:42:15.250> resistance<01:42:15.910> and 01:42:16.260 --> 01:42:16.270 align:start position:0% censorship resistance and 01:42:16.270 --> 01:42:22.950 align:start position:0% censorship resistance and decentralization<01:42:19.860> and<01:42:20.860> thank<01:42:21.430> you<01:42:21.550> if<01:42:22.300> anyone 01:42:22.950 --> 01:42:22.960 align:start position:0% decentralization and thank you if anyone 01:42:22.960 --> 01:42:25.590 align:start position:0% decentralization and thank you if anyone has<01:42:23.140> any<01:42:23.350> questions<01:42:23.500> or<01:42:24.100> wants<01:42:25.000> to<01:42:25.120> know<01:42:25.240> more 01:42:25.590 --> 01:42:25.600 align:start position:0% has any questions or wants to know more 01:42:25.600 --> 01:42:28.230 align:start position:0% has any questions or wants to know more about<01:42:25.660> specifically<01:42:26.560> how<01:42:26.770> to<01:42:26.800> credit<01:42:27.340> the 01:42:28.230 --> 01:42:28.240 align:start position:0% about specifically how to credit the 01:42:28.240 --> 01:42:29.550 align:start position:0% about specifically how to credit the current<01:42:28.480> governance<01:42:28.840> model<01:42:29.140> works<01:42:29.320> I<01:42:29.530> think 01:42:29.550 --> 01:42:29.560 align:start position:0% current governance model works I think 01:42:29.560 --> 01:42:30.780 align:start position:0% current governance model works I think more<01:42:29.950> than<01:42:30.100> happy<01:42:30.340> to<01:42:30.370> take<01:42:30.580> questions 01:42:30.780 --> 01:42:30.790 align:start position:0% more than happy to take questions 01:42:30.790 --> 01:42:32.520 align:start position:0% more than happy to take questions afterwards<01:42:31.480> you<01:42:31.720> can<01:42:31.870> comment<01:42:32.050> on<01:42:32.200> each<01:42:32.320> other 01:42:32.520 --> 01:42:32.530 align:start position:0% afterwards you can comment on each other 01:42:32.530 --> 01:42:40.129 align:start position:0% afterwards you can comment on each other anyways<01:42:33.490> thank<01:42:33.850> you<01:42:33.910> very<01:42:34.090> much 01:42:40.129 --> 01:42:40.139 align:start position:0% 01:42:40.139 --> 01:42:42.209 align:start position:0% very<01:42:41.139> much<01:42:41.289> Josh<01:42:41.530> that<01:42:41.800> was<01:42:41.829> super 01:42:42.209 --> 01:42:42.219 align:start position:0% very much Josh that was super 01:42:42.219 --> 01:42:44.189 align:start position:0% very much Josh that was super interesting<01:42:42.670> you<01:42:43.539> guys<01:42:43.690> are<01:42:43.840> some<01:42:44.050> really 01:42:44.189 --> 01:42:44.199 align:start position:0% interesting you guys are some really 01:42:44.199 --> 01:42:45.689 align:start position:0% interesting you guys are some really exciting<01:42:44.380> stuff<01:42:44.530> thanks<01:42:45.039> for<01:42:45.159> sharing<01:42:45.340> it<01:42:45.550> I 01:42:45.689 --> 01:42:45.699 align:start position:0% exciting stuff thanks for sharing it I 01:42:45.699 --> 01:42:46.919 align:start position:0% exciting stuff thanks for sharing it I really<01:42:45.940> like<01:42:46.090> your<01:42:46.300> clothes<01:42:46.539> they<01:42:46.690> thought 01:42:46.919 --> 01:42:46.929 align:start position:0% really like your clothes they thought 01:42:46.929 --> 01:42:48.569 align:start position:0% really like your clothes they thought that<01:42:47.139> governments<01:42:47.739> can't<01:42:48.039> brush<01:42:48.159> government 01:42:48.569 --> 01:42:48.579 align:start position:0% that governments can't brush government 01:42:48.579 --> 01:42:51.330 align:start position:0% that governments can't brush government as<01:42:48.699> I<01:42:48.849> said<01:42:49.059> we<01:42:49.329> did<01:42:49.570> we<01:42:50.260> needed<01:42:50.409> to<01:42:50.559> have 01:42:51.330 --> 01:42:51.340 align:start position:0% as I said we did we needed to have 01:42:51.340 --> 01:42:54.569 align:start position:0% as I said we did we needed to have patience<01:42:51.820> and<01:42:52.440> be<01:42:53.440> very<01:42:53.650> thoughtful<01:42:53.829> before 01:42:54.569 --> 01:42:54.579 align:start position:0% patience and be very thoughtful before 01:42:54.579 --> 01:42:55.859 align:start position:0% patience and be very thoughtful before we're<01:42:54.730> kind<01:42:54.909> of<01:42:55.000> incrementally<01:42:55.329> involved 01:42:55.859 --> 01:42:55.869 align:start position:0% we're kind of incrementally involved 01:42:55.869 --> 01:42:57.569 align:start position:0% we're kind of incrementally involved yeah<01:42:56.349> I<01:42:56.530> couldn't<01:42:56.860> agree<01:42:56.920> more<01:42:57.039> strongly<01:42:57.400> with 01:42:57.569 --> 01:42:57.579 align:start position:0% yeah I couldn't agree more strongly with 01:42:57.579 --> 01:43:00.569 align:start position:0% yeah I couldn't agree more strongly with that<01:42:57.789> all<01:42:58.539> right<01:42:58.599> up<01:42:59.409> next<01:42:59.469> we<01:42:59.679> have<01:42:59.889> the<01:43:00.280> one 01:43:00.569 --> 01:43:00.579 align:start position:0% that all right up next we have the one 01:43:00.579 --> 01:43:03.600 align:start position:0% that all right up next we have the one and<01:43:00.699> only<01:43:00.730> light<01:43:01.000> coin<01:43:01.239> again<01:43:02.190> John<01:43:03.190> my 01:43:03.600 --> 01:43:03.610 align:start position:0% and only light coin again John my 01:43:03.610 --> 01:43:06.259 align:start position:0% and only light coin again John my talking<01:43:04.090> to<01:43:04.269> us<01:43:04.449> about<01:43:04.829> Aragon<01:43:05.829> governance 01:43:06.259 --> 01:43:06.269 align:start position:0% talking to us about Aragon governance 01:43:06.269 --> 01:43:08.729 align:start position:0% talking to us about Aragon governance I'm<01:43:07.269> sure<01:43:07.510> probably<01:43:08.110> everyone<01:43:08.530> in<01:43:08.590> the<01:43:08.650> street 01:43:08.729 --> 01:43:08.739 align:start position:0% I'm sure probably everyone in the street 01:43:08.739 --> 01:43:09.930 align:start position:0% I'm sure probably everyone in the street was<01:43:08.829> already<01:43:09.130> familiar<01:43:09.250> with<01:43:09.489> Aragon 01:43:09.930 --> 01:43:09.940 align:start position:0% was already familiar with Aragon 01:43:09.940 --> 01:43:12.029 align:start position:0% was already familiar with Aragon probably<01:43:10.630> needs<01:43:10.750> no<01:43:10.840> introduction<01:43:11.139> but<01:43:11.500> their 01:43:12.029 --> 01:43:12.039 align:start position:0% probably needs no introduction but their 01:43:12.039 --> 01:43:15.359 align:start position:0% probably needs no introduction but their project<01:43:12.909> that<01:43:13.059> has<01:43:13.750> been<01:43:13.780> really<01:43:14.650> blazing<01:43:15.219> a 01:43:15.359 --> 01:43:15.369 align:start position:0% project that has been really blazing a 01:43:15.369 --> 01:43:17.759 align:start position:0% project that has been really blazing a trail<01:43:15.400> and<01:43:15.880> just<01:43:16.239> doing<01:43:16.500> some<01:43:17.500> of<01:43:17.590> the<01:43:17.650> most 01:43:17.759 --> 01:43:17.769 align:start position:0% trail and just doing some of the most 01:43:17.769 --> 01:43:19.379 align:start position:0% trail and just doing some of the most interesting<01:43:18.250> and<01:43:18.369> exciting<01:43:18.429> work<01:43:18.789> in<01:43:19.030> covered 01:43:19.379 --> 01:43:19.389 align:start position:0% interesting and exciting work in covered 01:43:19.389 --> 01:43:21.209 align:start position:0% interesting and exciting work in covered it's<01:43:19.510> engineering<01:43:19.900> space<01:43:20.170> with<01:43:20.469> dows<01:43:20.949> and 01:43:21.209 --> 01:43:21.219 align:start position:0% it's engineering space with dows and 01:43:21.219 --> 01:43:23.220 align:start position:0% it's engineering space with dows and many<01:43:21.340> other<01:43:21.489> things<01:43:21.670> I'm<01:43:22.420> gonna<01:43:22.599> plug<01:43:23.079> your 01:43:23.220 --> 01:43:23.230 align:start position:0% many other things I'm gonna plug your 01:43:23.230 --> 01:43:25.020 align:start position:0% many other things I'm gonna plug your slides<01:43:23.469> up<01:43:23.559> again<01:43:23.769> it's<01:43:23.980> a<01:43:24.039> pretty<01:43:24.250> common 01:43:25.020 --> 01:43:25.030 align:start position:0% slides up again it's a pretty common 01:43:25.030 --> 01:43:28.319 align:start position:0% slides up again it's a pretty common great<01:43:25.510> thanks<01:43:26.050> a<01:43:26.110> lot<01:43:26.289> Lee<01:43:26.670> so<01:43:27.670> for<01:43:27.880> folks<01:43:28.030> that 01:43:28.319 --> 01:43:28.329 align:start position:0% great thanks a lot Lee so for folks that 01:43:28.329 --> 01:43:30.870 align:start position:0% great thanks a lot Lee so for folks that were<01:43:28.480> at<01:43:28.840> what<01:43:29.380> three<01:43:29.590> summit<01:43:29.949> or<01:43:30.429> this<01:43:30.610> year 01:43:30.870 --> 01:43:30.880 align:start position:0% were at what three summit or this year 01:43:30.880 --> 01:43:34.290 align:start position:0% were at what three summit or this year perhaps<01:43:31.420> saw<01:43:31.690> the<01:43:32.340> video<01:43:33.340> that<01:43:33.400> came<01:43:33.699> out<01:43:33.880> this 01:43:34.290 --> 01:43:34.300 align:start position:0% perhaps saw the video that came out this 01:43:34.300 --> 01:43:36.660 align:start position:0% perhaps saw the video that came out this presentation<01:43:34.809> is<01:43:35.050> going<01:43:35.230> to<01:43:35.349> be<01:43:35.559> kind<01:43:36.519> of<01:43:36.639> a 01:43:36.660 --> 01:43:36.670 align:start position:0% presentation is going to be kind of a 01:43:36.670 --> 01:43:41.069 align:start position:0% presentation is going to be kind of a repeat<01:43:37.030> of<01:43:37.210> the<01:43:38.219> recap<01:43:39.219> of<01:43:39.719> Aragon<01:43:40.719> Network 01:43:41.069 --> 01:43:41.079 align:start position:0% repeat of the recap of Aragon Network 01:43:41.079 --> 01:43:41.680 align:start position:0% repeat of the recap of Aragon Network both 01:43:41.680 --> 01:43:41.690 align:start position:0% both 01:43:41.690 --> 01:43:45.720 align:start position:0% both that<01:43:42.139> happened<01:43:42.590> so<01:43:42.710> far<01:43:43.449> I'm<01:43:44.449> going<01:43:44.750> to 01:43:45.720 --> 01:43:45.730 align:start position:0% that happened so far I'm going to 01:43:45.730 --> 01:43:49.209 align:start position:0% that happened so far I'm going to briefly<01:43:46.730> cover<01:43:47.179> but<01:43:48.050> however<01:43:48.409> on<01:43:48.889> network 01:43:49.209 --> 01:43:49.219 align:start position:0% briefly cover but however on network 01:43:49.219 --> 01:43:51.760 align:start position:0% briefly cover but however on network governance<01:43:49.639> works<01:43:49.929> and<01:43:50.929> then<01:43:51.290> just<01:43:51.530> kind<01:43:51.739> of 01:43:51.760 --> 01:43:51.770 align:start position:0% governance works and then just kind of 01:43:51.770 --> 01:43:55.169 align:start position:0% governance works and then just kind of recap<01:43:52.429> how<01:43:53.210> it<01:43:53.600> has<01:43:53.870> been<01:43:54.080> working<01:43:54.440> so<01:43:54.590> far 01:43:55.169 --> 01:43:55.179 align:start position:0% recap how it has been working so far 01:43:55.179 --> 01:44:00.340 align:start position:0% recap how it has been working so far for<01:43:56.179> a<01:43:56.210> more<01:43:57.170> complete<01:43:58.179> review<01:43:59.179> of<01:43:59.480> how<01:44:00.050> their 01:44:00.340 --> 01:44:00.350 align:start position:0% for a more complete review of how their 01:44:00.350 --> 01:44:02.770 align:start position:0% for a more complete review of how their network<01:44:00.889> governance<01:44:01.699> works<01:44:01.940> I<01:44:02.300> did<01:44:02.750> a 01:44:02.770 --> 01:44:02.780 align:start position:0% network governance works I did a 01:44:02.780 --> 01:44:06.040 align:start position:0% network governance works I did a presentation<01:44:03.020> about<01:44:03.830> this<01:44:04.639> at<01:44:04.909> our<01:44:05.570> annual 01:44:06.040 --> 01:44:06.050 align:start position:0% presentation about this at our annual 01:44:06.050 --> 01:44:08.830 align:start position:0% presentation about this at our annual conference<01:44:06.290> our<01:44:07.010> con<01:44:07.370> earlier<01:44:08.179> this<01:44:08.360> year<01:44:08.420> you 01:44:08.830 --> 01:44:08.840 align:start position:0% conference our con earlier this year you 01:44:08.840 --> 01:44:12.729 align:start position:0% conference our con earlier this year you can<01:44:08.989> find<01:44:09.020> that<01:44:09.290> video<01:44:09.440> on<01:44:10.070> YouTube<01:44:11.500> but<01:44:12.500> so 01:44:12.729 --> 01:44:12.739 align:start position:0% can find that video on YouTube but so 01:44:12.739 --> 01:44:15.189 align:start position:0% can find that video on YouTube but so yeah<01:44:13.070> let's<01:44:14.030> jump<01:44:14.239> into<01:44:14.389> it<01:44:14.510> airline<01:44:15.050> Network 01:44:15.189 --> 01:44:15.199 align:start position:0% yeah let's jump into it airline Network 01:44:15.199 --> 01:44:18.100 align:start position:0% yeah let's jump into it airline Network folks<01:44:15.770> recap 01:44:18.100 --> 01:44:18.110 align:start position:0% folks recap 01:44:18.110 --> 01:44:21.720 align:start position:0% folks recap so<01:44:18.500> some<01:44:18.830> background<01:44:19.780> Aaron<01:44:20.780> on<01:44:20.840> network<01:44:21.170> is 01:44:21.720 --> 01:44:21.730 align:start position:0% so some background Aaron on network is 01:44:21.730 --> 01:44:25.020 align:start position:0% so some background Aaron on network is the<01:44:22.730> the<01:44:23.120> now<01:44:23.330> that<01:44:23.719> that<01:44:24.050> oversees<01:44:24.710> the 01:44:25.020 --> 01:44:25.030 align:start position:0% the the now that that oversees the 01:44:25.030 --> 01:44:28.500 align:start position:0% the the now that that oversees the project<01:44:26.290> so<01:44:27.290> this<01:44:27.440> is<01:44:27.530> a<01:44:27.560> decentralized 01:44:28.500 --> 01:44:28.510 align:start position:0% project so this is a decentralized 01:44:28.510 --> 01:44:32.740 align:start position:0% project so this is a decentralized organization<01:44:29.560> governed<01:44:30.560> by<01:44:31.449> holders<01:44:32.449> of<01:44:32.630> the 01:44:32.740 --> 01:44:32.750 align:start position:0% organization governed by holders of the 01:44:32.750 --> 01:44:35.830 align:start position:0% organization governed by holders of the Aragon<01:44:33.020> Network<01:44:33.350> token<01:44:34.000> Aragon<01:44:35.000> network<01:44:35.360> is 01:44:35.830 --> 01:44:35.840 align:start position:0% Aragon Network token Aragon network is 01:44:35.840 --> 01:44:38.140 align:start position:0% Aragon Network token Aragon network is funded<01:44:36.409> by<01:44:36.620> proceeds<01:44:37.280> of<01:44:37.460> the<01:44:37.670> sale<01:44:37.940> of<01:44:37.969> that 01:44:38.140 --> 01:44:38.150 align:start position:0% funded by proceeds of the sale of that 01:44:38.150 --> 01:44:42.340 align:start position:0% funded by proceeds of the sale of that token<01:44:39.100> back<01:44:40.100> in<01:44:40.310> 2017<01:44:40.850> there<01:44:41.630> was<01:44:41.719> a<01:44:41.780> sale<01:44:42.020> and 01:44:42.340 --> 01:44:42.350 align:start position:0% token back in 2017 there was a sale and 01:44:42.350 --> 01:44:44.470 align:start position:0% token back in 2017 there was a sale and that's<01:44:43.190> how<01:44:43.400> ante<01:44:43.940> was<01:44:44.150> initially 01:44:44.470 --> 01:44:44.480 align:start position:0% that's how ante was initially 01:44:44.480 --> 01:44:49.870 align:start position:0% that's how ante was initially distributed<01:44:46.000> so<01:44:47.000> both<01:44:47.780> before<01:44:48.550> area<01:44:49.550> networks 01:44:49.870 --> 01:44:49.880 align:start position:0% distributed so both before area networks 01:44:49.880 --> 01:44:52.780 align:start position:0% distributed so both before area networks have<01:44:50.030> and<01:44:50.179> holders<01:44:50.420> could<01:44:50.860> govern<01:44:51.860> the 01:44:52.780 --> 01:44:52.790 align:start position:0% have and holders could govern the 01:44:52.790 --> 01:44:56.410 align:start position:0% have and holders could govern the network<01:44:53.239> we<01:44:53.600> needed<01:44:54.020> the<01:44:54.260> tools<01:44:54.920> to<01:44:55.580> govern 01:44:56.410 --> 01:44:56.420 align:start position:0% network we needed the tools to govern 01:44:56.420 --> 01:44:58.479 align:start position:0% network we needed the tools to govern the<01:44:56.600> network<01:44:56.929> and<01:44:57.199> so<01:44:57.409> that's<01:44:58.159> what<01:44:58.370> we've 01:44:58.479 --> 01:44:58.489 align:start position:0% the network and so that's what we've 01:44:58.489 --> 01:45:00.780 align:start position:0% the network and so that's what we've been<01:44:58.610> working<01:44:58.760> on<01:44:58.969> building<01:44:59.179> is<01:44:59.570> tools<01:44:59.929> for 01:45:00.780 --> 01:45:00.790 align:start position:0% been working on building is tools for 01:45:00.790 --> 01:45:03.490 align:start position:0% been working on building is tools for creating<01:45:01.790> and<01:45:02.179> governing<01:45:02.630> decentralized 01:45:03.490 --> 01:45:03.500 align:start position:0% creating and governing decentralized 01:45:03.500 --> 01:45:08.050 align:start position:0% creating and governing decentralized organizations<01:45:04.159> on<01:45:04.520> aetherium<01:45:06.670> and<01:45:07.670> we<01:45:07.880> have 01:45:08.050 --> 01:45:08.060 align:start position:0% organizations on aetherium and we have 01:45:08.060 --> 01:45:10.600 align:start position:0% organizations on aetherium and we have one<01:45:08.719> of<01:45:08.750> those<01:45:08.900> tools<01:45:09.230> lives<01:45:09.650> today<01:45:09.889> at<01:45:10.280> app 01:45:10.600 --> 01:45:10.610 align:start position:0% one of those tools lives today at app 01:45:10.610 --> 01:45:15.160 align:start position:0% one of those tools lives today at app dot<01:45:10.850> Aaron<01:45:11.179> on<01:45:11.300> border<01:45:13.719> so<01:45:14.719> once<01:45:14.900> we<01:45:15.020> have 01:45:15.160 --> 01:45:15.170 align:start position:0% dot Aaron on border so once we have 01:45:15.170 --> 01:45:18.910 align:start position:0% dot Aaron on border so once we have tools<01:45:15.679> live<01:45:16.670> on<01:45:17.030> maintenance<01:45:17.480> that<01:45:17.989> Aragon 01:45:18.910 --> 01:45:18.920 align:start position:0% tools live on maintenance that Aragon 01:45:18.920 --> 01:45:20.979 align:start position:0% tools live on maintenance that Aragon network<01:45:19.190> different<01:45:19.520> holders<01:45:19.760> could<01:45:20.120> use<01:45:20.480> to 01:45:20.979 --> 01:45:20.989 align:start position:0% network different holders could use to 01:45:20.989 --> 01:45:24.689 align:start position:0% network different holders could use to participate<01:45:21.530> in<01:45:21.739> marinids<01:45:22.400> we<01:45:23.179> decided<01:45:24.050> to 01:45:24.689 --> 01:45:24.699 align:start position:0% participate in marinids we decided to 01:45:24.699 --> 01:45:28.090 align:start position:0% participate in marinids we decided to formalize<01:45:25.699> our<01:45:25.940> governance<01:45:26.330> process<01:45:26.840> and<01:45:27.199> so 01:45:28.090 --> 01:45:28.100 align:start position:0% formalize our governance process and so 01:45:28.100 --> 01:45:32.140 align:start position:0% formalize our governance process and so first<01:45:28.699> we<01:45:29.290> wrote<01:45:30.400> kind<01:45:31.400> of<01:45:31.460> a<01:45:31.550> foundational 01:45:32.140 --> 01:45:32.150 align:start position:0% first we wrote kind of a foundational 01:45:32.150 --> 01:45:33.459 align:start position:0% first we wrote kind of a foundational document<01:45:32.659> of 01:45:33.459 --> 01:45:33.469 align:start position:0% document of 01:45:33.469 --> 01:45:35.260 align:start position:0% document of or<01:45:33.530> governance<01:45:33.949> of<01:45:34.190> the<01:45:34.310> Aragon<01:45:34.640> manifesto 01:45:35.260 --> 01:45:35.270 align:start position:0% or governance of the Aragon manifesto 01:45:35.270 --> 01:45:39.130 align:start position:0% or governance of the Aragon manifesto this<01:45:36.050> was<01:45:36.260> ratified<01:45:36.590> by<01:45:36.800> AMT<01:45:37.520> holders<01:45:37.910> in<01:45:38.239> June 01:45:39.130 --> 01:45:39.140 align:start position:0% this was ratified by AMT holders in June 01:45:39.140 --> 01:45:45.300 align:start position:0% this was ratified by AMT holders in June of<01:45:39.640> 2018<01:45:40.640> and<01:45:41.000> then<01:45:41.719> later<01:45:41.989> that<01:45:42.290> year<01:45:44.050> we 01:45:45.300 --> 01:45:45.310 align:start position:0% of 2018 and then later that year we 01:45:45.310 --> 01:45:48.950 align:start position:0% of 2018 and then later that year we wrote<01:45:46.310> up<01:45:46.489> how<01:45:47.030> the<01:45:47.719> governance<01:45:48.170> process 01:45:48.950 --> 01:45:48.960 align:start position:0% wrote up how the governance process 01:45:48.960 --> 01:45:52.770 align:start position:0% wrote up how the governance process [Music] 01:45:52.770 --> 01:45:52.780 align:start position:0% 01:45:52.780 --> 01:45:55.570 align:start position:0% serious<01:45:53.780> I've<01:45:53.900> been<01:45:54.050> doing<01:45:54.230> here<01:45:54.520> thank<01:45:55.520> you 01:45:55.570 --> 01:45:55.580 align:start position:0% serious I've been doing here thank you 01:45:55.580 --> 01:45:59.530 align:start position:0% serious I've been doing here thank you for<01:45:55.940> clarifying<01:45:56.300> Syria<01:45:57.670> and<01:45:58.670> so<01:45:59.150> later<01:45:59.420> that 01:45:59.530 --> 01:45:59.540 align:start position:0% for clarifying Syria and so later that 01:45:59.540 --> 01:46:02.050 align:start position:0% for clarifying Syria and so later that year<01:45:59.960> we<01:46:00.530> formalized<01:46:01.280> how<01:46:01.520> the<01:46:01.580> governance 01:46:02.050 --> 01:46:02.060 align:start position:0% year we formalized how the governance 01:46:02.060 --> 01:46:06.910 align:start position:0% year we formalized how the governance process<01:46:02.510> would<01:46:03.140> actually<01:46:03.469> work<01:46:04.390> under<01:46:05.920> AGP 01:46:06.910 --> 01:46:06.920 align:start position:0% process would actually work under AGP 01:46:06.920 --> 01:46:10.030 align:start position:0% process would actually work under AGP one<01:46:07.130> two<01:46:07.550> approaches<01:46:08.420> the<01:46:09.050> Aragon<01:46:09.500> governance 01:46:10.030 --> 01:46:10.040 align:start position:0% one two approaches the Aragon governance 01:46:10.040 --> 01:46:12.700 align:start position:0% one two approaches the Aragon governance proposal<01:46:10.760> process<01:46:11.270> which<01:46:11.780> was<01:46:11.900> ratified<01:46:12.140> in 01:46:12.700 --> 01:46:12.710 align:start position:0% proposal process which was ratified in 01:46:12.710 --> 01:46:17.950 align:start position:0% proposal process which was ratified in November<01:46:13.219> of<01:46:13.400> 2017<01:46:15.400> so<01:46:16.400> this<01:46:16.699> is<01:46:16.850> roughly<01:46:17.120> how 01:46:17.950 --> 01:46:17.960 align:start position:0% November of 2017 so this is roughly how 01:46:17.960 --> 01:46:22.330 align:start position:0% November of 2017 so this is roughly how the<01:46:18.489> proposal<01:46:19.489> process<01:46:19.610> itself<01:46:20.300> works<01:46:21.340> so 01:46:22.330 --> 01:46:22.340 align:start position:0% the proposal process itself works so 01:46:22.340 --> 01:46:27.160 align:start position:0% the proposal process itself works so there<01:46:22.760> are<01:46:23.000> six<01:46:23.390> stages<01:46:24.199> now<01:46:25.480> there<01:46:26.480> are<01:46:26.840> the 01:46:27.160 --> 01:46:27.170 align:start position:0% there are six stages now there are the 01:46:27.170 --> 01:46:29.530 align:start position:0% there are six stages now there are the the<01:46:28.160> first<01:46:28.489> three<01:46:28.699> stages<01:46:28.940> are<01:46:29.330> just 01:46:29.530 --> 01:46:29.540 align:start position:0% the first three stages are just 01:46:29.540 --> 01:46:30.939 align:start position:0% the first three stages are just basically<01:46:29.840> information<01:46:30.170> gathering<01:46:30.830> and 01:46:30.939 --> 01:46:30.949 align:start position:0% basically information gathering and 01:46:30.949 --> 01:46:34.479 align:start position:0% basically information gathering and proposal<01:46:31.640> drafting<01:46:32.530> then<01:46:33.530> Stage<01:46:33.830> four<01:46:34.250> this 01:46:34.479 --> 01:46:34.489 align:start position:0% proposal drafting then Stage four this 01:46:34.489 --> 01:46:36.729 align:start position:0% proposal drafting then Stage four this is<01:46:34.640> slightly<01:46:35.360> out<01:46:35.570> of<01:46:35.600> date<01:46:35.719> Stage<01:46:36.170> four<01:46:36.469> is<01:46:36.710> a 01:46:36.729 --> 01:46:36.739 align:start position:0% is slightly out of date Stage four is a 01:46:36.739 --> 01:46:38.880 align:start position:0% is slightly out of date Stage four is a community<01:46:37.400> review<01:46:37.699> period<01:46:38.000> that<01:46:38.719> all 01:46:38.880 --> 01:46:38.890 align:start position:0% community review period that all 01:46:38.890 --> 01:46:41.830 align:start position:0% community review period that all proposals<01:46:39.890> have<01:46:40.190> to<01:46:40.310> go<01:46:40.430> through<01:46:40.730> after<01:46:41.690> the 01:46:41.830 --> 01:46:41.840 align:start position:0% proposals have to go through after the 01:46:41.840 --> 01:46:43.959 align:start position:0% proposals have to go through after the community<01:46:42.020> review<01:46:42.650> period<01:46:42.949> the<01:46:43.670> urban 01:46:43.959 --> 01:46:43.969 align:start position:0% community review period the urban 01:46:43.969 --> 01:46:46.750 align:start position:0% community review period the urban Association<01:46:44.719> which<01:46:45.320> isn't<01:46:45.560> a<01:46:45.800> nonprofit<01:46:46.430> that 01:46:46.750 --> 01:46:46.760 align:start position:0% Association which isn't a nonprofit that 01:46:46.760 --> 01:46:49.470 align:start position:0% Association which isn't a nonprofit that kind<01:46:47.540> of<01:46:47.570> oversees<01:46:48.170> the<01:46:48.320> project<01:46:48.500> right<01:46:48.890> now 01:46:49.470 --> 01:46:49.480 align:start position:0% kind of oversees the project right now 01:46:49.480 --> 01:46:52.510 align:start position:0% kind of oversees the project right now or<01:46:50.480> to<01:46:50.840> the<01:46:50.960> proposals<01:46:51.560> and<01:46:51.800> then<01:46:52.280> any 01:46:52.510 --> 01:46:52.520 align:start position:0% or to the proposals and then any 01:46:52.520 --> 01:46:54.729 align:start position:0% or to the proposals and then any proposals<01:46:53.300> that<01:46:53.449> get<01:46:53.660> passed<01:46:53.989> the<01:46:54.469> interview 01:46:54.729 --> 01:46:54.739 align:start position:0% proposals that get passed the interview 01:46:54.739 --> 01:46:57.370 align:start position:0% proposals that get passed the interview go<01:46:55.550> on<01:46:55.670> to<01:46:55.820> a<01:46:55.850> final<01:46:56.239> ballot<01:46:56.600> and<01:46:56.750> get<01:46:56.900> voted<01:46:57.199> on 01:46:57.370 --> 01:46:57.380 align:start position:0% go on to a final ballot and get voted on 01:46:57.380 --> 01:47:01.660 align:start position:0% go on to a final ballot and get voted on by<01:46:57.620> any<01:46:57.830> holders<01:46:58.570> in<01:46:59.570> the<01:47:00.219> network<01:47:01.219> mode<01:47:01.430> and 01:47:01.660 --> 01:47:01.670 align:start position:0% by any holders in the network mode and 01:47:01.670 --> 01:47:04.930 align:start position:0% by any holders in the network mode and any<01:47:02.469> proposals<01:47:03.469> that<01:47:03.590> are<01:47:03.710> approved<01:47:03.980> get 01:47:04.930 --> 01:47:04.940 align:start position:0% any proposals that are approved get 01:47:04.940 --> 01:47:08.200 align:start position:0% any proposals that are approved get executed<01:47:05.510> and<01:47:05.750> any<01:47:06.199> that<01:47:06.469> get<01:47:06.830> rejected<01:47:07.210> go 01:47:08.200 --> 01:47:08.210 align:start position:0% executed and any that get rejected go 01:47:08.210 --> 01:47:10.810 align:start position:0% executed and any that get rejected go back<01:47:08.420> to<01:47:08.630> square<01:47:08.810> one<01:47:09.080> so<01:47:09.640> that's<01:47:10.640> a 01:47:10.810 --> 01:47:10.820 align:start position:0% back to square one so that's a 01:47:10.820 --> 01:47:12.189 align:start position:0% back to square one so that's a high-level<01:47:11.150> overview<01:47:11.360> of<01:47:11.750> kind<01:47:11.900> of<01:47:11.989> how<01:47:12.140> the 01:47:12.189 --> 01:47:12.199 align:start position:0% high-level overview of kind of how the 01:47:12.199 --> 01:47:16.750 align:start position:0% high-level overview of kind of how the process<01:47:12.380> works<01:47:12.860> today<01:47:14.110> so<01:47:15.110> so<01:47:15.980> far<01:47:16.190> we've<01:47:16.489> had 01:47:16.750 --> 01:47:16.760 align:start position:0% process works today so so far we've had 01:47:16.760 --> 01:47:20.229 align:start position:0% process works today so so far we've had three<01:47:17.690> votes<01:47:17.960> under<01:47:18.469> the<01:47:18.770> area<01:47:19.610> of<01:47:19.910> governance 01:47:20.229 --> 01:47:20.239 align:start position:0% three votes under the area of governance 01:47:20.239 --> 01:47:22.640 align:start position:0% three votes under the area of governance proposal<01:47:20.780> process<01:47:21.130> the<01:47:22.130> fourth 01:47:22.640 --> 01:47:22.650 align:start position:0% proposal process the fourth 01:47:22.650 --> 01:47:23.720 align:start position:0% proposal process the fourth coming<01:47:22.890> up<01:47:23.010> at<01:47:23.130> the<01:47:23.159> end<01:47:23.250> of<01:47:23.429> this<01:47:23.550> month 01:47:23.720 --> 01:47:23.730 align:start position:0% coming up at the end of this month 01:47:23.730 --> 01:47:28.100 align:start position:0% coming up at the end of this month actually<01:47:26.270> 33<01:47:27.270> proposals<01:47:27.840> have<01:47:27.960> been 01:47:28.100 --> 01:47:28.110 align:start position:0% actually 33 proposals have been 01:47:28.110 --> 01:47:29.689 align:start position:0% actually 33 proposals have been submitted<01:47:28.500> on<01:47:28.620> time<01:47:28.739> so<01:47:29.159> like<01:47:29.250> before<01:47:29.460> the 01:47:29.689 --> 01:47:29.699 align:start position:0% submitted on time so like before the 01:47:29.699 --> 01:47:32.450 align:start position:0% submitted on time so like before the deadlines<01:47:30.350> 26<01:47:31.350> have<01:47:31.590> actually<01:47:32.010> made<01:47:32.159> it<01:47:32.219> onto 01:47:32.450 --> 01:47:32.460 align:start position:0% deadlines 26 have actually made it onto 01:47:32.460 --> 01:47:37.370 align:start position:0% deadlines 26 have actually made it onto the<01:47:32.670> final<01:47:33.030> ballot<01:47:33.500> and<01:47:34.500> then<01:47:34.980> 21<01:47:36.380> proposals 01:47:37.370 --> 01:47:37.380 align:start position:0% the final ballot and then 21 proposals 01:47:37.380 --> 01:47:39.770 align:start position:0% the final ballot and then 21 proposals finally<01:47:37.860> were<01:47:38.040> actually<01:47:38.580> approved<01:47:38.969> by<01:47:39.239> AMT 01:47:39.770 --> 01:47:39.780 align:start position:0% finally were actually approved by AMT 01:47:39.780 --> 01:47:42.890 align:start position:0% finally were actually approved by AMT holders<01:47:40.110> and<01:47:40.320> so<01:47:41.040> far<01:47:41.480> about<01:47:42.480> eight<01:47:42.719> and<01:47:42.750> a 01:47:42.890 --> 01:47:42.900 align:start position:0% holders and so far about eight and a 01:47:42.900 --> 01:47:44.149 align:start position:0% holders and so far about eight and a half<01:47:42.929> and<01:47:43.260> then<01:47:43.350> they<01:47:43.440> die<01:47:43.679> have<01:47:44.010> been 01:47:44.149 --> 01:47:44.159 align:start position:0% half and then they die have been 01:47:44.159 --> 01:47:46.300 align:start position:0% half and then they die have been distributed<01:47:44.790> to<01:47:45.030> this<01:47:45.179> proposal<01:47:45.540> process 01:47:46.300 --> 01:47:46.310 align:start position:0% distributed to this proposal process 01:47:46.310 --> 01:47:52.160 align:start position:0% distributed to this proposal process and<01:47:47.310> about<01:47:47.520> three<01:47:47.730> and<01:47:47.820> a<01:47:47.880> half<01:47:47.909> million<01:47:48.239> ante 01:47:52.160 --> 01:47:52.170 align:start position:0% 01:47:52.170 --> 01:47:53.620 align:start position:0% [Music] 01:47:53.620 --> 01:47:53.630 align:start position:0% [Music] 01:47:53.630 --> 01:47:56.600 align:start position:0% [Music] participation<01:47:54.630> rate<01:47:54.810> on<01:47:55.500> average<01:47:55.980> across<01:47:56.489> all 01:47:56.600 --> 01:47:56.610 align:start position:0% participation rate on average across all 01:47:56.610 --> 01:47:58.760 align:start position:0% participation rate on average across all of<01:47:56.880> the<01:47:56.969> votes<01:47:57.179> is<01:47:57.449> about<01:47:57.719> four<01:47:58.380> point<01:47:58.560> seven 01:47:58.760 --> 01:47:58.770 align:start position:0% of the votes is about four point seven 01:47:58.770 --> 01:48:02.930 align:start position:0% of the votes is about four point seven five<01:47:59.040> percent<01:47:59.100> of<01:47:59.969> all<01:48:00.540> ET<01:48:01.699> tokens<01:48:02.699> in 01:48:02.930 --> 01:48:02.940 align:start position:0% five percent of all ET tokens in 01:48:02.940 --> 01:48:04.850 align:start position:0% five percent of all ET tokens in existence<01:48:03.420> participating<01:48:04.170> in<01:48:04.260> the<01:48:04.380> vote<01:48:04.560> and 01:48:04.850 --> 01:48:04.860 align:start position:0% existence participating in the vote and 01:48:04.860 --> 01:48:09.080 align:start position:0% existence participating in the vote and our<01:48:05.580> highest<01:48:05.850> turnout<01:48:06.390> rate<01:48:06.600> was<01:48:07.760> seven<01:48:08.760> point 01:48:09.080 --> 01:48:09.090 align:start position:0% our highest turnout rate was seven point 01:48:09.090 --> 01:48:12.770 align:start position:0% our highest turnout rate was seven point eight<01:48:09.300> four<01:48:09.810> percent<01:48:11.120> the<01:48:12.120> top<01:48:12.360> three<01:48:12.540> most 01:48:12.770 --> 01:48:12.780 align:start position:0% eight four percent the top three most 01:48:12.780 --> 01:48:14.600 align:start position:0% eight four percent the top three most contentious<01:48:13.290> proposals<01:48:13.860> which<01:48:14.130> I<01:48:14.280> define<01:48:14.580> as 01:48:14.600 --> 01:48:14.610 align:start position:0% contentious proposals which I define as 01:48:14.610 --> 01:48:17.360 align:start position:0% contentious proposals which I define as like<01:48:15.210> the<01:48:15.420> closest<01:48:15.870> ratio<01:48:16.620> between<01:48:16.890> yes<01:48:17.340> and 01:48:17.360 --> 01:48:17.370 align:start position:0% like the closest ratio between yes and 01:48:17.370 --> 01:48:21.919 align:start position:0% like the closest ratio between yes and no<01:48:17.640> votes<01:48:18.199> was<01:48:19.199> a<01:48:19.469> flop<01:48:20.370> funding<01:48:21.120> proposal<01:48:21.630> for 01:48:21.919 --> 01:48:21.929 align:start position:0% no votes was a flop funding proposal for 01:48:21.929 --> 01:48:24.050 align:start position:0% no votes was a flop funding proposal for a<01:48:21.960> team<01:48:22.230> called<01:48:22.340> autarkic<01:48:23.340> so<01:48:23.580> this<01:48:23.760> was<01:48:24.030> a 01:48:24.050 --> 01:48:24.060 align:start position:0% a team called autarkic so this was a 01:48:24.060 --> 01:48:27.080 align:start position:0% a team called autarkic so this was a team<01:48:24.540> that<01:48:24.570> was<01:48:24.810> seeking<01:48:25.260> a<01:48:26.130> relatively<01:48:26.820> large 01:48:27.080 --> 01:48:27.090 align:start position:0% team that was seeking a relatively large 01:48:27.090 --> 01:48:30.770 align:start position:0% team that was seeking a relatively large grant<01:48:27.449> to<01:48:27.719> join<01:48:29.090> around<01:48:30.090> one<01:48:30.300> which<01:48:30.510> is<01:48:30.659> the 01:48:30.770 --> 01:48:30.780 align:start position:0% grant to join around one which is the 01:48:30.780 --> 01:48:34.010 align:start position:0% grant to join around one which is the team<01:48:30.929> that<01:48:30.960> I<01:48:31.230> work<01:48:31.469> for<01:48:31.770> as<01:48:32.100> a<01:48:32.850> full-time<01:48:33.420> team 01:48:34.010 --> 01:48:34.020 align:start position:0% team that I work for as a full-time team 01:48:34.020 --> 01:48:38.390 align:start position:0% team that I work for as a full-time team working<01:48:34.409> on<01:48:34.850> Aragon<01:48:35.850> project<01:48:36.659> software<01:48:37.400> and 01:48:38.390 --> 01:48:38.400 align:start position:0% working on Aragon project software and 01:48:38.400 --> 01:48:40.130 align:start position:0% working on Aragon project software and their<01:48:38.489> proposal<01:48:38.670> was<01:48:39.150> relatively<01:48:39.570> close<01:48:39.870> in 01:48:40.130 --> 01:48:40.140 align:start position:0% their proposal was relatively close in 01:48:40.140 --> 01:48:44.229 align:start position:0% their proposal was relatively close in essence<01:48:40.860> no<01:48:40.949> votes<01:48:41.219> with<01:48:41.790> 54%<01:48:42.360> yes<01:48:42.870> 46%<01:48:43.530> no 01:48:44.229 --> 01:48:44.239 align:start position:0% essence no votes with 54% yes 46% no 01:48:44.239 --> 01:48:48.200 align:start position:0% essence no votes with 54% yes 46% no AG's<01:48:45.239> p16<01:48:46.199> which<01:48:46.469> was<01:48:46.739> a<01:48:47.090> procedural<01:48:48.090> vote 01:48:48.200 --> 01:48:48.210 align:start position:0% AG's p16 which was a procedural vote 01:48:48.210 --> 01:48:50.479 align:start position:0% AG's p16 which was a procedural vote about<01:48:48.750> modifying<01:48:49.650> the<01:48:49.920> governance 01:48:50.479 --> 01:48:50.489 align:start position:0% about modifying the governance 01:48:50.489 --> 01:48:55.790 align:start position:0% about modifying the governance since<01:48:50.699> itself<01:48:51.829> also<01:48:54.110> relatively<01:48:55.110> close<01:48:55.380> and 01:48:55.790 --> 01:48:55.800 align:start position:0% since itself also relatively close and 01:48:55.800 --> 01:49:00.770 align:start position:0% since itself also relatively close and getting<01:48:56.159> rejected<01:48:56.519> and<01:48:58.130> then<01:48:59.130> a<01:48:59.429> to<01:48:59.849> be<01:49:00.119> 37 01:49:00.770 --> 01:49:00.780 align:start position:0% getting rejected and then a to be 37 01:49:00.780 --> 01:49:03.620 align:start position:0% getting rejected and then a to be 37 which<01:49:00.960> was<01:49:01.199> a<01:49:01.230> retainer<01:49:01.679> for<01:49:01.949> an<01:49:02.070> awfully<01:49:02.570> or<01:49:03.570> a 01:49:03.620 --> 01:49:03.630 align:start position:0% which was a retainer for an awfully or a 01:49:03.630 --> 01:49:06.379 align:start position:0% which was a retainer for an awfully or a network<01:49:04.019> security<01:49:04.710> partner<01:49:05.340> this<01:49:06.150> would<01:49:06.300> be 01:49:06.379 --> 01:49:06.389 align:start position:0% network security partner this would be 01:49:06.389 --> 01:49:08.689 align:start position:0% network security partner this would be like<01:49:06.510> auditors<01:49:06.989> that<01:49:07.019> are<01:49:07.380> auditing<01:49:08.249> Aragon 01:49:08.689 --> 01:49:08.699 align:start position:0% like auditors that are auditing Aragon 01:49:08.699 --> 01:49:11.029 align:start position:0% like auditors that are auditing Aragon software<01:49:09.210> at<01:49:09.449> an<01:49:09.659> ongoing<01:49:09.840> on<01:49:10.710> an<01:49:10.920> ongoing 01:49:11.029 --> 01:49:11.039 align:start position:0% software at an ongoing on an ongoing 01:49:11.039 --> 01:49:18.109 align:start position:0% software at an ongoing on an ongoing basis<01:49:11.730> and<01:49:14.239> then<01:49:15.239> maybe<01:49:15.989> like<01:49:16.320> a<01:49:16.380> a<01:49:17.119> honorable 01:49:18.109 --> 01:49:18.119 align:start position:0% basis and then maybe like a a honorable 01:49:18.119 --> 01:49:22.359 align:start position:0% basis and then maybe like a a honorable mention<01:49:18.539> with<01:49:19.320> the<01:49:19.499> the<01:49:19.949> proposals<01:49:20.579> to<01:49:21.389> reject 01:49:22.359 --> 01:49:22.369 align:start position:0% mention with the the proposals to reject 01:49:22.369 --> 01:49:25.759 align:start position:0% mention with the the proposals to reject or<01:49:23.369> prevent<01:49:24.300> the<01:49:24.989> aeronaut<01:49:25.320> project<01:49:25.679> from 01:49:25.759 --> 01:49:25.769 align:start position:0% or prevent the aeronaut project from 01:49:25.769 --> 01:49:27.140 align:start position:0% or prevent the aeronaut project from building<01:49:26.099> on<01:49:26.219> any<01:49:26.400> blog<01:49:26.610> gene<01:49:26.849> that<01:49:27.030> would 01:49:27.140 --> 01:49:27.150 align:start position:0% building on any blog gene that would 01:49:27.150 --> 01:49:30.799 align:start position:0% building on any blog gene that would that<01:49:27.269> wasn't<01:49:27.599> a<01:49:27.659> theory<01:49:28.219> that<01:49:29.329> that<01:49:30.329> that<01:49:30.630> one 01:49:30.799 --> 01:49:30.809 align:start position:0% that wasn't a theory that that that one 01:49:30.809 --> 01:49:35.169 align:start position:0% that wasn't a theory that that that one also<01:49:30.929> had<01:49:31.409> I<01:49:32.280> believe<01:49:32.760> it<01:49:32.849> was<01:49:32.940> like<01:49:33.030> 69%<01:49:33.980> no 01:49:35.169 --> 01:49:35.179 align:start position:0% also had I believe it was like 69% no 01:49:35.179 --> 01:49:41.149 align:start position:0% also had I believe it was like 69% no 31%<01:49:36.179> yes<01:49:38.780> so<01:49:39.780> some<01:49:40.110> lessons<01:49:40.260> that<01:49:40.829> we've 01:49:41.149 --> 01:49:41.159 align:start position:0% 31% yes so some lessons that we've 01:49:41.159 --> 01:49:45.979 align:start position:0% 31% yes so some lessons that we've learned<01:49:41.219> so<01:49:41.579> far<01:49:43.070> it's<01:49:44.449> it's<01:49:45.449> good<01:49:45.690> to<01:49:45.809> have<01:49:45.929> a 01:49:45.979 --> 01:49:45.989 align:start position:0% learned so far it's it's good to have a 01:49:45.989 --> 01:49:48.229 align:start position:0% learned so far it's it's good to have a direct<01:49:46.380> communication<01:49:46.650> channel<01:49:47.429> with<01:49:47.639> voters 01:49:48.229 --> 01:49:48.239 align:start position:0% direct communication channel with voters 01:49:48.239 --> 01:49:50.899 align:start position:0% direct communication channel with voters to<01:49:48.539> cut<01:49:48.719> through<01:49:48.929> the<01:49:49.050> noise<01:49:49.139> so<01:49:50.099> we<01:49:50.489> set<01:49:50.699> up<01:49:50.730> a 01:49:50.899 --> 01:49:50.909 align:start position:0% to cut through the noise so we set up a 01:49:50.909 --> 01:49:52.989 align:start position:0% to cut through the noise so we set up a mailing<01:49:51.150> list<01:49:51.389> called<01:49:52.199> the<01:49:52.380> airline<01:49:52.710> Network 01:49:52.989 --> 01:49:52.999 align:start position:0% mailing list called the airline Network 01:49:52.999 --> 01:49:57.830 align:start position:0% mailing list called the airline Network voters<01:49:53.999> mailing<01:49:54.690> list<01:49:55.070> so<01:49:56.070> that<01:49:56.360> voters<01:49:57.360> can 01:49:57.830 --> 01:49:57.840 align:start position:0% voters mailing list so that voters can 01:49:57.840 --> 01:49:59.509 align:start position:0% voters mailing list so that voters can sign<01:49:58.199> up<01:49:58.230> to<01:49:58.380> give<01:49:58.650> like<01:49:58.800> very<01:49:59.039> low<01:49:59.219> volume 01:49:59.509 --> 01:49:59.519 align:start position:0% sign up to give like very low volume 01:49:59.519 --> 01:50:02.200 align:start position:0% sign up to give like very low volume very<01:50:00.119> high<01:50:00.269> signal<01:50:00.749> alerts<01:50:01.230> about<01:50:01.530> when 01:50:02.200 --> 01:50:02.210 align:start position:0% very high signal alerts about when 01:50:02.210 --> 01:50:05.330 align:start position:0% very high signal alerts about when important<01:50:03.530> events<01:50:04.530> are<01:50:04.650> happening<01:50:04.829> in<01:50:05.219> the 01:50:05.330 --> 01:50:05.340 align:start position:0% important events are happening in the 01:50:05.340 --> 01:50:08.359 align:start position:0% important events are happening in the governance<01:50:05.789> process<01:50:06.619> in<01:50:07.619> particular<01:50:07.739> like 01:50:08.359 --> 01:50:08.369 align:start position:0% governance process in particular like 01:50:08.369 --> 01:50:11.209 align:start position:0% governance process in particular like when<01:50:08.789> to<01:50:08.909> actually<01:50:09.300> vote<01:50:09.800> so<01:50:10.800> the<01:50:10.889> Aragon 01:50:11.209 --> 01:50:11.219 align:start position:0% when to actually vote so the Aragon 01:50:11.219 --> 01:50:12.560 align:start position:0% when to actually vote so the Aragon project<01:50:11.550> is<01:50:11.670> doing<01:50:11.849> a<01:50:11.940> lot<01:50:12.030> of<01:50:12.179> stuff<01:50:12.360> if 01:50:12.560 --> 01:50:12.570 align:start position:0% project is doing a lot of stuff if 01:50:12.570 --> 01:50:13.729 align:start position:0% project is doing a lot of stuff if you're<01:50:12.659> following<01:50:13.019> all<01:50:13.139> of<01:50:13.170> our<01:50:13.349> channels 01:50:13.729 --> 01:50:13.739 align:start position:0% you're following all of our channels 01:50:13.739 --> 01:50:15.919 align:start position:0% you're following all of our channels you're<01:50:13.889> getting<01:50:14.130> a<01:50:14.159> lot<01:50:14.309> of<01:50:14.340> noise<01:50:14.999> and<01:50:15.300> you 01:50:15.919 --> 01:50:15.929 align:start position:0% you're getting a lot of noise and you 01:50:15.929 --> 01:50:17.390 align:start position:0% you're getting a lot of noise and you might<01:50:16.110> not<01:50:16.380> see<01:50:16.860> the<01:50:17.039> important 01:50:17.390 --> 01:50:17.400 align:start position:0% might not see the important 01:50:17.400 --> 01:50:20.810 align:start position:0% might not see the important announcements<01:50:17.909> about<01:50:17.999> the<01:50:18.150> boat<01:50:19.820> another 01:50:20.810 --> 01:50:20.820 align:start position:0% announcements about the boat another 01:50:20.820 --> 01:50:22.160 align:start position:0% announcements about the boat another thing<01:50:21.090> is<01:50:21.210> to<01:50:21.239> put<01:50:21.480> a<01:50:21.510> thaw<01:50:21.780> retainer<01:50:22.050> of 01:50:22.160 --> 01:50:22.170 align:start position:0% thing is to put a thaw retainer of 01:50:22.170 --> 01:50:23.779 align:start position:0% thing is to put a thaw retainer of information<01:50:22.679> about<01:50:22.860> a<01:50:22.920> boat<01:50:23.099> in<01:50:23.340> like<01:50:23.579> one 01:50:23.779 --> 01:50:23.789 align:start position:0% information about a boat in like one 01:50:23.789 --> 01:50:26.120 align:start position:0% information about a boat in like one place<01:50:24.030> and<01:50:24.360> then<01:50:24.989> repeatedly<01:50:25.469> tell<01:50:25.769> people 01:50:26.120 --> 01:50:26.130 align:start position:0% place and then repeatedly tell people 01:50:26.130 --> 01:50:28.310 align:start position:0% place and then repeatedly tell people like<01:50:26.369> where<01:50:26.909> that<01:50:27.090> one<01:50:27.239> place<01:50:27.480> is<01:50:27.659> located<01:50:27.840> so 01:50:28.310 --> 01:50:28.320 align:start position:0% like where that one place is located so 01:50:28.320 --> 01:50:31.279 align:start position:0% like where that one place is located so they<01:50:28.349> can<01:50:28.590> find<01:50:28.829> it<01:50:29.010> again<01:50:29.749> it's<01:50:30.749> just<01:50:30.929> good<01:50:31.110> to 01:50:31.279 --> 01:50:31.289 align:start position:0% they can find it again it's just good to 01:50:31.289 --> 01:50:34.040 align:start position:0% they can find it again it's just good to have<01:50:31.320> a<01:50:31.880> thoriated<01:50:32.880> like<01:50:33.179> a<01:50:33.210> source<01:50:33.570> of<01:50:33.719> truth 01:50:34.040 --> 01:50:34.050 align:start position:0% have a thoriated like a source of truth 01:50:34.050 --> 01:50:36.200 align:start position:0% have a thoriated like a source of truth that<01:50:34.409> people<01:50:34.739> know<01:50:35.159> they<01:50:35.460> can<01:50:35.610> always<01:50:35.789> go<01:50:36.150> to 01:50:36.200 --> 01:50:36.210 align:start position:0% that people know they can always go to 01:50:36.210 --> 01:50:38.029 align:start position:0% that people know they can always go to this<01:50:36.449> spot<01:50:36.599> and<01:50:36.989> fight<01:50:37.199> the<01:50:37.530> most<01:50:37.739> up-to-date 01:50:38.029 --> 01:50:38.039 align:start position:0% this spot and fight the most up-to-date 01:50:38.039 --> 01:50:40.760 align:start position:0% this spot and fight the most up-to-date information<01:50:38.340> about<01:50:38.940> a<01:50:39.090> vote 01:50:40.760 --> 01:50:40.770 align:start position:0% information about a vote 01:50:40.770 --> 01:50:42.140 align:start position:0% information about a vote all<01:50:40.830> these<01:50:40.980> scattered<01:50:41.370> channels<01:50:41.760> and<01:50:41.970> maybe 01:50:42.140 --> 01:50:42.150 align:start position:0% all these scattered channels and maybe 01:50:42.150 --> 01:50:43.610 align:start position:0% all these scattered channels and maybe finding<01:50:42.540> out<01:50:42.750> today<01:50:42.780> or<01:50:43.230> out-of-date 01:50:43.610 --> 01:50:43.620 align:start position:0% finding out today or out-of-date 01:50:43.620 --> 01:50:47.090 align:start position:0% finding out today or out-of-date information<01:50:45.350> another<01:50:46.350> thing<01:50:46.590> is<01:50:46.680> to<01:50:46.710> keep<01:50:46.920> the 01:50:47.090 --> 01:50:47.100 align:start position:0% information another thing is to keep the 01:50:47.100 --> 01:50:49.310 align:start position:0% information another thing is to keep the process<01:50:47.550> as<01:50:47.760> simple<01:50:47.970> as<01:50:48.270> possible<01:50:48.330> to<01:50:49.110> lower 01:50:49.310 --> 01:50:49.320 align:start position:0% process as simple as possible to lower 01:50:49.320 --> 01:50:51.740 align:start position:0% process as simple as possible to lower the<01:50:49.650> barrier<01:50:50.040> to<01:50:50.340> participation<01:50:51.000> and<01:50:51.390> reduce 01:50:51.740 --> 01:50:51.750 align:start position:0% the barrier to participation and reduce 01:50:51.750 --> 01:50:55.490 align:start position:0% the barrier to participation and reduce the<01:50:51.990> likelihood<01:50:52.140> of<01:50:52.560> mistakes<01:50:53.250> and<01:50:54.290> I'm<01:50:55.290> sure 01:50:55.490 --> 01:50:55.500 align:start position:0% the likelihood of mistakes and I'm sure 01:50:55.500 --> 01:50:59.090 align:start position:0% the likelihood of mistakes and I'm sure we<01:50:55.740> could<01:50:56.300> you<01:50:57.300> know<01:50:57.360> spend<01:50:57.720> time<01:50:58.100> designing 01:50:59.090 --> 01:50:59.100 align:start position:0% we could you know spend time designing 01:50:59.100 --> 01:51:01.220 align:start position:0% we could you know spend time designing some<01:50:59.400> elaborate<01:51:00.000> like<01:51:00.180> group<01:51:00.480> Goldberg 01:51:01.220 --> 01:51:01.230 align:start position:0% some elaborate like group Goldberg 01:51:01.230 --> 01:51:03.470 align:start position:0% some elaborate like group Goldberg governance<01:51:01.860> system<01:51:02.310> that<01:51:03.240> looks 01:51:03.470 --> 01:51:03.480 align:start position:0% governance system that looks 01:51:03.480 --> 01:51:04.820 align:start position:0% governance system that looks sophisticated<01:51:04.110> but<01:51:04.350> doesn't<01:51:04.710> actually 01:51:04.820 --> 01:51:04.830 align:start position:0% sophisticated but doesn't actually 01:51:04.830 --> 01:51:06.740 align:start position:0% sophisticated but doesn't actually accomplish<01:51:05.430> a<01:51:05.460> lot<01:51:05.730> because<01:51:05.970> people<01:51:06.150> just 01:51:06.740 --> 01:51:06.750 align:start position:0% accomplish a lot because people just 01:51:06.750 --> 01:51:10.400 align:start position:0% accomplish a lot because people just have<01:51:06.870> such<01:51:07.770> a<01:51:07.800> hard<01:51:08.220> time<01:51:08.460> navigating<01:51:09.180> it<01:51:09.750> that 01:51:10.400 --> 01:51:10.410 align:start position:0% have such a hard time navigating it that 01:51:10.410 --> 01:51:15.040 align:start position:0% have such a hard time navigating it that only<01:51:11.180> like<01:51:12.180> either<01:51:12.750> extremely<01:51:13.440> dedicated<01:51:13.740> or 01:51:15.040 --> 01:51:15.050 align:start position:0% only like either extremely dedicated or 01:51:15.050 --> 01:51:17.570 align:start position:0% only like either extremely dedicated or perhaps<01:51:16.160> manipulative<01:51:17.160> people<01:51:17.460> would 01:51:17.570 --> 01:51:17.580 align:start position:0% perhaps manipulative people would 01:51:17.580 --> 01:51:20.480 align:start position:0% perhaps manipulative people would actually<01:51:17.700> get<01:51:18.000> through<01:51:18.210> the<01:51:18.300> process<01:51:19.130> and<01:51:20.130> and 01:51:20.480 --> 01:51:20.490 align:start position:0% actually get through the process and and 01:51:20.490 --> 01:51:22.940 align:start position:0% actually get through the process and and finally<01:51:20.970> ask<01:51:21.750> participants<01:51:22.320> for<01:51:22.710> feedback 01:51:22.940 --> 01:51:22.950 align:start position:0% finally ask participants for feedback 01:51:22.950 --> 01:51:24.710 align:start position:0% finally ask participants for feedback and<01:51:23.370> use<01:51:23.820> it<01:51:24.030> to<01:51:24.120> make<01:51:24.270> the<01:51:24.360> process<01:51:24.540> better 01:51:24.710 --> 01:51:24.720 align:start position:0% and use it to make the process better 01:51:24.720 --> 01:51:26.600 align:start position:0% and use it to make the process better after<01:51:25.440> all<01:51:25.590> of<01:51:25.740> those<01:51:25.980> that<01:51:26.130> we've<01:51:26.310> done<01:51:26.430> so 01:51:26.600 --> 01:51:26.610 align:start position:0% after all of those that we've done so 01:51:26.610 --> 01:51:29.810 align:start position:0% after all of those that we've done so far<01:51:26.640> we<01:51:27.000> sent<01:51:27.240> out<01:51:27.330> a<01:51:27.360> survey<01:51:27.980> asking<01:51:28.980> people 01:51:29.810 --> 01:51:29.820 align:start position:0% far we sent out a survey asking people 01:51:29.820 --> 01:51:33.470 align:start position:0% far we sent out a survey asking people several<01:51:30.660> questions<01:51:31.140> about<01:51:31.850> their<01:51:32.850> experience 01:51:33.470 --> 01:51:33.480 align:start position:0% several questions about their experience 01:51:33.480 --> 01:51:35.330 align:start position:0% several questions about their experience in<01:51:33.660> the<01:51:33.990> new<01:51:34.110> governance<01:51:34.500> process<01:51:34.920> whether 01:51:35.330 --> 01:51:35.340 align:start position:0% in the new governance process whether 01:51:35.340 --> 01:51:37.340 align:start position:0% in the new governance process whether they<01:51:35.580> voted<01:51:35.820> or<01:51:36.300> not<01:51:36.540> if<01:51:36.810> you<01:51:36.930> want<01:51:36.960> to<01:51:37.170> hear 01:51:37.340 --> 01:51:37.350 align:start position:0% they voted or not if you want to hear 01:51:37.350 --> 01:51:39.350 align:start position:0% they voted or not if you want to hear from<01:51:37.440> them<01:51:37.680> and<01:51:37.920> as<01:51:38.820> well<01:51:39.030> as<01:51:39.180> like 01:51:39.350 --> 01:51:39.360 align:start position:0% from them and as well as like 01:51:39.360 --> 01:51:41.570 align:start position:0% from them and as well as like suggestions<01:51:39.780> about<01:51:40.110> you<01:51:40.440> know<01:51:40.500> what<01:51:40.740> what<01:51:41.250> it 01:51:41.570 --> 01:51:41.580 align:start position:0% suggestions about you know what what it 01:51:41.580 --> 01:51:43.430 align:start position:0% suggestions about you know what what it would<01:51:41.730> improve<01:51:42.030> about<01:51:42.540> using<01:51:42.960> the<01:51:43.050> governance 01:51:43.430 --> 01:51:43.440 align:start position:0% would improve about using the governance 01:51:43.440 --> 01:51:46.160 align:start position:0% would improve about using the governance process<01:51:43.830> itself<01:51:44.310> or<01:51:44.580> the<01:51:45.030> user<01:51:45.270> experience<01:51:45.750> of 01:51:46.160 --> 01:51:46.170 align:start position:0% process itself or the user experience of 01:51:46.170 --> 01:51:47.500 align:start position:0% process itself or the user experience of interacting<01:51:46.470> with<01:51:46.890> the<01:51:47.010> governance<01:51:47.370> process 01:51:47.500 --> 01:51:47.510 align:start position:0% interacting with the governance process 01:51:47.510 --> 01:51:49.520 align:start position:0% interacting with the governance process we've<01:51:48.510> gotten<01:51:48.780> a<01:51:48.810> lot<01:51:48.960> of<01:51:49.020> great<01:51:49.230> feedback 01:51:49.520 --> 01:51:49.530 align:start position:0% we've gotten a lot of great feedback 01:51:49.530 --> 01:51:51.350 align:start position:0% we've gotten a lot of great feedback from<01:51:49.920> the<01:51:50.070> surveys<01:51:50.400> and<01:51:50.670> actually 01:51:51.350 --> 01:51:51.360 align:start position:0% from the surveys and actually 01:51:51.360 --> 01:51:53.650 align:start position:0% from the surveys and actually incorporated<01:51:52.110> that<01:51:52.260> feedback<01:51:52.530> into<01:51:53.010> our 01:51:53.650 --> 01:51:53.660 align:start position:0% incorporated that feedback into our 01:51:53.660 --> 01:51:56.150 align:start position:0% incorporated that feedback into our product<01:51:54.660> development<01:51:54.840> roadmap<01:51:55.410> as<01:51:55.830> well<01:51:56.040> as 01:51:56.150 --> 01:51:56.160 align:start position:0% product development roadmap as well as 01:51:56.160 --> 01:51:59.300 align:start position:0% product development roadmap as well as our<01:51:56.340> governance<01:51:57.050> roadmap<01:51:58.050> so<01:51:58.500> this<01:51:59.010> has<01:51:59.160> been 01:51:59.300 --> 01:51:59.310 align:start position:0% our governance roadmap so this has been 01:51:59.310 --> 01:52:04.520 align:start position:0% our governance roadmap so this has been really<01:51:59.610> helpful<01:51:59.850> for<01:52:00.180> us<01:52:01.010> and<01:52:02.330> then<01:52:03.330> some<01:52:04.140> open 01:52:04.520 --> 01:52:04.530 align:start position:0% really helpful for us and then some open 01:52:04.530 --> 01:52:07.250 align:start position:0% really helpful for us and then some open questions<01:52:04.980> that<01:52:05.760> we<01:52:05.910> have<01:52:06.120> that<01:52:06.810> I<01:52:06.870> would<01:52:07.050> love 01:52:07.250 --> 01:52:07.260 align:start position:0% questions that we have that I would love 01:52:07.260 --> 01:52:09.890 align:start position:0% questions that we have that I would love to<01:52:07.410> discuss<01:52:07.500> if<01:52:08.100> folks<01:52:08.820> wanna<01:52:09.090> chat<01:52:09.510> after 01:52:09.890 --> 01:52:09.900 align:start position:0% to discuss if folks wanna chat after 01:52:09.900 --> 01:52:11.690 align:start position:0% to discuss if folks wanna chat after this<01:52:10.050> would<01:52:10.650> be<01:52:10.770> like<01:52:10.980> you<01:52:11.160> know<01:52:11.190> how<01:52:11.490> do<01:52:11.550> we 01:52:11.690 --> 01:52:11.700 align:start position:0% this would be like you know how do we 01:52:11.700 --> 01:52:13.310 align:start position:0% this would be like you know how do we increase<01:52:11.970> participation<01:52:12.450> rate<01:52:13.050> while 01:52:13.310 --> 01:52:13.320 align:start position:0% increase participation rate while 01:52:13.320 --> 01:52:15.680 align:start position:0% increase participation rate while maintaining<01:52:13.530> or<01:52:14.100> improving<01:52:14.690> decision 01:52:15.680 --> 01:52:15.690 align:start position:0% maintaining or improving decision 01:52:15.690 --> 01:52:19.520 align:start position:0% maintaining or improving decision quality<01:52:17.690> you<01:52:18.690> know<01:52:18.780> one<01:52:19.020> thing<01:52:19.170> we<01:52:19.290> could<01:52:19.410> do 01:52:19.520 --> 01:52:19.530 align:start position:0% quality you know one thing we could do 01:52:19.530 --> 01:52:21.860 align:start position:0% quality you know one thing we could do is<01:52:19.620> like<01:52:19.770> just<01:52:20.490> pay<01:52:20.670> voters<01:52:21.060> to<01:52:21.210> show<01:52:21.420> up<01:52:21.600> that 01:52:21.860 --> 01:52:21.870 align:start position:0% is like just pay voters to show up that 01:52:21.870 --> 01:52:23.750 align:start position:0% is like just pay voters to show up that we'll<01:52:21.960> probably<01:52:22.110> get<01:52:22.410> more<01:52:23.190> people<01:52:23.400> to<01:52:23.550> show 01:52:23.750 --> 01:52:23.760 align:start position:0% we'll probably get more people to show 01:52:23.760 --> 01:52:25.730 align:start position:0% we'll probably get more people to show up<01:52:23.940> but<01:52:24.180> will<01:52:24.570> then<01:52:24.720> actually<01:52:24.960> result<01:52:25.530> in 01:52:25.730 --> 01:52:25.740 align:start position:0% up but will then actually result in 01:52:25.740 --> 01:52:28.570 align:start position:0% up but will then actually result in better<01:52:26.060> decisions<01:52:27.140> it's<01:52:28.140> an<01:52:28.230> open<01:52:28.440> question 01:52:28.570 --> 01:52:28.580 align:start position:0% better decisions it's an open question 01:52:28.580 --> 01:52:30.590 align:start position:0% better decisions it's an open question how<01:52:29.580> do<01:52:29.640> we<01:52:29.910> protect<01:52:30.270> against<01:52:30.510> various 01:52:30.590 --> 01:52:30.600 align:start position:0% how do we protect against various 01:52:30.600 --> 01:52:33.770 align:start position:0% how do we protect against various attacks<01:52:31.350> like<01:52:31.680> vote<01:52:31.920> selling<01:52:32.600> bribing<01:52:33.600> or 01:52:33.770 --> 01:52:33.780 align:start position:0% attacks like vote selling bribing or 01:52:33.780 --> 01:52:36.560 align:start position:0% attacks like vote selling bribing or collusion<01:52:34.500> bad<01:52:35.070> voting 01:52:36.560 --> 01:52:36.570 align:start position:0% collusion bad voting 01:52:36.570 --> 01:52:38.979 align:start position:0% collusion bad voting how<01:52:37.350> do<01:52:37.410> we<01:52:37.560> run<01:52:38.070> meaning 01:52:38.979 --> 01:52:38.989 align:start position:0% how do we run meaning 01:52:38.989 --> 01:52:40.540 align:start position:0% how do we run meaning experiments<01:52:39.679> while<01:52:39.889> protecting<01:52:40.280> the 01:52:40.540 --> 01:52:40.550 align:start position:0% experiments while protecting the 01:52:40.550 --> 01:52:42.339 align:start position:0% experiments while protecting the integrity<01:52:40.849> of<01:52:41.150> the<01:52:41.360> airline<01:52:41.719> network<01:52:42.079> you 01:52:42.339 --> 01:52:42.349 align:start position:0% integrity of the airline network you 01:52:42.349 --> 01:52:44.049 align:start position:0% integrity of the airline network you know<01:52:42.440> add<01:52:42.650> as<01:52:42.980> the<01:52:43.369> last<01:52:43.550> speaker<01:52:43.670> mentioned 01:52:44.049 --> 01:52:44.059 align:start position:0% know add as the last speaker mentioned 01:52:44.059 --> 01:52:45.640 align:start position:0% know add as the last speaker mentioned we<01:52:44.300> don't<01:52:44.449> want<01:52:44.570> to<01:52:44.630> move<01:52:44.809> fast<01:52:45.110> and<01:52:45.349> break 01:52:45.640 --> 01:52:45.650 align:start position:0% we don't want to move fast and break 01:52:45.650 --> 01:52:46.720 align:start position:0% we don't want to move fast and break things<01:52:45.710> we<01:52:46.099> don't<01:52:46.159> want<01:52:46.249> to<01:52:46.400> break<01:52:46.579> our 01:52:46.720 --> 01:52:46.730 align:start position:0% things we don't want to break our 01:52:46.730 --> 01:52:48.580 align:start position:0% things we don't want to break our governance<01:52:47.090> process<01:52:47.570> but<01:52:47.900> we<01:52:48.110> don't<01:52:48.289> want<01:52:48.469> to 01:52:48.580 --> 01:52:48.590 align:start position:0% governance process but we don't want to 01:52:48.590 --> 01:52:50.770 align:start position:0% governance process but we don't want to stand<01:52:49.369> still<01:52:49.699> either<01:52:49.999> we<01:52:50.269> want<01:52:50.480> to<01:52:50.539> continue 01:52:50.770 --> 01:52:50.780 align:start position:0% stand still either we want to continue 01:52:50.780 --> 01:52:53.290 align:start position:0% stand still either we want to continue iterating<01:52:51.110> so<01:52:51.619> how<01:52:51.800> do<01:52:51.860> we<01:52:52.039> run<01:52:52.730> meaningful 01:52:53.290 --> 01:52:53.300 align:start position:0% iterating so how do we run meaningful 01:52:53.300 --> 01:52:54.640 align:start position:0% iterating so how do we run meaningful experiments<01:52:53.900> without<01:52:54.139> breaking<01:52:54.559> the 01:52:54.640 --> 01:52:54.650 align:start position:0% experiments without breaking the 01:52:54.650 --> 01:52:57.339 align:start position:0% experiments without breaking the governance<01:52:55.039> process<01:52:55.099> and<01:52:55.909> then<01:52:56.630> finally<01:52:57.050> you 01:52:57.339 --> 01:52:57.349 align:start position:0% governance process and then finally you 01:52:57.349 --> 01:52:59.439 align:start position:0% governance process and then finally you know<01:52:57.380> how<01:52:57.710> do<01:52:57.769> we<01:52:57.920> continually<01:52:58.699> improve<01:52:59.179> Vogt 01:52:59.439 --> 01:52:59.449 align:start position:0% know how do we continually improve Vogt 01:52:59.449 --> 01:53:01.810 align:start position:0% know how do we continually improve Vogt communications<01:53:00.230> and<01:53:00.530> user<01:53:00.679> experience<01:53:00.949> the 01:53:01.810 --> 01:53:01.820 align:start position:0% communications and user experience the 01:53:01.820 --> 01:53:03.549 align:start position:0% communications and user experience the feedback<01:53:02.239> answers<01:53:02.630> have<01:53:02.929> again<01:53:03.320> have<01:53:03.530> been 01:53:03.549 --> 01:53:03.559 align:start position:0% feedback answers have again have been 01:53:03.559 --> 01:53:06.819 align:start position:0% feedback answers have again have been helpful<01:53:04.010> for<01:53:04.219> getting<01:53:05.090> some<01:53:05.630> direct<01:53:06.469> feedback 01:53:06.819 --> 01:53:06.829 align:start position:0% helpful for getting some direct feedback 01:53:06.829 --> 01:53:12.040 align:start position:0% helpful for getting some direct feedback from<01:53:07.309> the<01:53:07.489> voters<01:53:08.679> but<01:53:10.150> you<01:53:11.150> know<01:53:11.239> how<01:53:11.749> can<01:53:11.929> we 01:53:12.040 --> 01:53:12.050 align:start position:0% from the voters but you know how can we 01:53:12.050 --> 01:53:13.060 align:start position:0% from the voters but you know how can we how<01:53:12.320> can<01:53:12.349> we<01:53:12.499> make<01:53:12.679> sure<01:53:12.710> that<01:53:12.920> we're 01:53:13.060 --> 01:53:13.070 align:start position:0% how can we make sure that we're 01:53:13.070 --> 01:53:15.489 align:start position:0% how can we make sure that we're continually<01:53:13.749> doing<01:53:14.749> this<01:53:14.929> so<01:53:15.170> that<01:53:15.320> we're 01:53:15.489 --> 01:53:15.499 align:start position:0% continually doing this so that we're 01:53:15.499 --> 01:53:19.930 align:start position:0% continually doing this so that we're we're<01:53:15.860> always<01:53:16.070> improving<01:53:18.130> so<01:53:19.130> that's<01:53:19.730> what<01:53:19.909> I 01:53:19.930 --> 01:53:19.940 align:start position:0% we're always improving so that's what I 01:53:19.940 --> 01:53:21.970 align:start position:0% we're always improving so that's what I have<01:53:20.150> today<01:53:20.480> about<01:53:21.110> the<01:53:21.380> airline<01:53:21.530> network 01:53:21.970 --> 01:53:21.980 align:start position:0% have today about the airline network 01:53:21.980 --> 01:53:23.439 align:start position:0% have today about the airline network governance<01:53:22.369> process<01:53:22.820> like<01:53:22.999> I<01:53:23.059> said<01:53:23.090> we<01:53:23.329> have<01:53:23.420> a 01:53:23.439 --> 01:53:23.449 align:start position:0% governance process like I said we have a 01:53:23.449 --> 01:53:25.479 align:start position:0% governance process like I said we have a folk<01:53:23.690> later<01:53:23.989> this<01:53:24.199> month<01:53:24.440> so<01:53:24.829> if<01:53:25.159> you<01:53:25.280> want<01:53:25.460> to 01:53:25.479 --> 01:53:25.489 align:start position:0% folk later this month so if you want to 01:53:25.489 --> 01:53:27.339 align:start position:0% folk later this month so if you want to see<01:53:25.730> it<01:53:25.849> in<01:53:26.030> action<01:53:26.179> just<01:53:26.449> kind<01:53:26.869> of<01:53:26.900> follow<01:53:27.139> our 01:53:27.339 --> 01:53:27.349 align:start position:0% see it in action just kind of follow our 01:53:27.349 --> 01:53:29.259 align:start position:0% see it in action just kind of follow our channels<01:53:27.800> jump<01:53:28.190> into<01:53:28.460> our<01:53:28.519> forum<01:53:28.940> and<01:53:29.090> you<01:53:29.119> can 01:53:29.259 --> 01:53:29.269 align:start position:0% channels jump into our forum and you can 01:53:29.269 --> 01:53:31.149 align:start position:0% channels jump into our forum and you can see<01:53:29.480> how<01:53:29.659> you<01:53:30.380> know<01:53:30.440> the<01:53:30.619> governance<01:53:31.099> process 01:53:31.149 --> 01:53:31.159 align:start position:0% see how you know the governance process 01:53:31.159 --> 01:53:35.080 align:start position:0% see how you know the governance process is<01:53:31.730> working<01:53:32.139> in<01:53:33.139> real<01:53:33.409> time<01:53:33.679> this<01:53:34.070> month<01:53:34.369> thank 01:53:35.080 --> 01:53:35.090 align:start position:0% is working in real time this month thank 01:53:35.090 --> 01:53:39.850 align:start position:0% is working in real time this month thank you 01:53:39.850 --> 01:53:39.860 align:start position:0% 01:53:39.860 --> 01:53:43.160 align:start position:0% thank<01:53:40.860> you<01:53:41.010> again<01:53:41.250> John<01:53:41.870> yeah<01:53:42.870> you're<01:53:43.080> the 01:53:43.160 --> 01:53:43.170 align:start position:0% thank you again John yeah you're the 01:53:43.170 --> 01:53:44.990 align:start position:0% thank you again John yeah you're the very<01:53:43.320> valid<01:53:43.590> point<01:53:43.830> which<01:53:43.920> is<01:53:44.070> that<01:53:44.100> a<01:53:44.640> lot<01:53:44.970> of 01:53:44.990 --> 01:53:45.000 align:start position:0% very valid point which is that a lot of 01:53:45.000 --> 01:53:46.490 align:start position:0% very valid point which is that a lot of the<01:53:45.150> governance<01:53:45.480> ideas<01:53:45.960> you're<01:53:46.110> clearing<01:53:46.320> up 01:53:46.490 --> 01:53:46.500 align:start position:0% the governance ideas you're clearing up 01:53:46.500 --> 01:53:48.710 align:start position:0% the governance ideas you're clearing up here<01:53:46.680> today<01:53:46.920> are<01:53:47.280> sort<01:53:48.240> of<01:53:48.270> still<01:53:48.510> in<01:53:48.630> the 01:53:48.710 --> 01:53:48.720 align:start position:0% here today are sort of still in the 01:53:48.720 --> 01:53:50.210 align:start position:0% here today are sort of still in the design<01:53:48.990> phases<01:53:49.230> but<01:53:49.650> I<01:53:49.680> think<01:53:49.920> what's<01:53:50.100> really 01:53:50.210 --> 01:53:50.220 align:start position:0% design phases but I think what's really 01:53:50.220 --> 01:53:51.980 align:start position:0% design phases but I think what's really exciting<01:53:50.490> about<01:53:50.760> Aragon<01:53:51.210> as<01:53:51.630> well<01:53:51.840> as<01:53:51.900> the 01:53:51.980 --> 01:53:51.990 align:start position:0% exciting about Aragon as well as the 01:53:51.990 --> 01:53:53.390 align:start position:0% exciting about Aragon as well as the credit<01:53:52.290> some<01:53:52.410> of<01:53:52.500> it<01:53:52.590> of<01:53:52.680> course<01:53:52.710> of<01:53:53.040> course<01:53:53.070> is 01:53:53.390 --> 01:53:53.400 align:start position:0% credit some of it of course of course is 01:53:53.400 --> 01:53:55.100 align:start position:0% credit some of it of course of course is that<01:53:53.580> you<01:53:53.760> guys<01:53:53.880> have<01:53:53.940> I've<01:53:54.540> been<01:53:54.750> doing<01:53:54.990> this 01:53:55.100 --> 01:53:55.110 align:start position:0% that you guys have I've been doing this 01:53:55.110 --> 01:53:58.460 align:start position:0% that you guys have I've been doing this for<01:53:55.410> you<01:53:55.650> know<01:53:55.740> over<01:53:55.770> a<01:53:56.070> year<01:53:56.280> now<01:53:56.430> and<01:53:56.460> so<01:53:57.470> jump 01:53:58.460 --> 01:53:58.470 align:start position:0% for you know over a year now and so jump 01:53:58.470 --> 01:54:01.130 align:start position:0% for you know over a year now and so jump in<01:53:58.620> and<01:53:58.950> just<01:53:59.370> payment<01:53:59.730> and<01:54:00.140> observe 01:54:01.130 --> 01:54:01.140 align:start position:0% in and just payment and observe 01:54:01.140 --> 01:54:02.390 align:start position:0% in and just payment and observe governance<01:54:01.590> and<01:54:01.740> Ashley's<01:54:02.010> been<01:54:02.190> really 01:54:02.390 --> 01:54:02.400 align:start position:0% governance and Ashley's been really 01:54:02.400 --> 01:54:04.640 align:start position:0% governance and Ashley's been really exciting<01:54:02.700> to<01:54:02.730> see<01:54:02.940> all<01:54:03.150> right<01:54:04.110> up<01:54:04.320> next<01:54:04.470> we 01:54:04.640 --> 01:54:04.650 align:start position:0% exciting to see all right up next we 01:54:04.650 --> 01:54:07.330 align:start position:0% exciting to see all right up next we have<01:54:04.740> Ilya<01:54:05.070> a<01:54:05.130> co-founder<01:54:05.670> of<01:54:05.700> near<01:54:06.180> protocol 01:54:07.330 --> 01:54:07.340 align:start position:0% have Ilya a co-founder of near protocol 01:54:07.340 --> 01:54:09.740 align:start position:0% have Ilya a co-founder of near protocol yeah<01:54:08.400> near<01:54:08.700> is<01:54:09.180> another<01:54:09.420> really<01:54:09.600> exciting 01:54:09.740 --> 01:54:09.750 align:start position:0% yeah near is another really exciting 01:54:09.750 --> 01:54:11.660 align:start position:0% yeah near is another really exciting project<01:54:10.290> you<01:54:10.350> guys<01:54:10.500> are<01:54:11.040> very<01:54:11.160> close<01:54:11.310> to 01:54:11.660 --> 01:54:11.670 align:start position:0% project you guys are very close to 01:54:11.670 --> 01:54:14.360 align:start position:0% project you guys are very close to launching<01:54:12.000> I<01:54:12.330> mean<01:54:12.570> then<01:54:12.750> I<01:54:12.780> think<01:54:13.050> right<01:54:13.370> you 01:54:14.360 --> 01:54:14.370 align:start position:0% launching I mean then I think right you 01:54:14.370 --> 01:54:16.300 align:start position:0% launching I mean then I think right you guys<01:54:14.490> have<01:54:14.580> a<01:54:14.640> very<01:54:14.730> different<01:54:15.120> vision<01:54:15.210> for 01:54:16.300 --> 01:54:16.310 align:start position:0% guys have a very different vision for 01:54:16.310 --> 01:54:18.980 align:start position:0% guys have a very different vision for you<01:54:17.310> know<01:54:17.430> the<01:54:18.030> future<01:54:18.240> of<01:54:18.450> blockchain<01:54:18.840> to 01:54:18.980 --> 01:54:18.990 align:start position:0% you know the future of blockchain to 01:54:18.990 --> 01:54:20.210 align:start position:0% you know the future of blockchain to charting<01:54:19.350> all<01:54:19.500> that<01:54:19.620> fun<01:54:19.800> stuff<01:54:19.830> but<01:54:20.100> also 01:54:20.210 --> 01:54:20.220 align:start position:0% charting all that fun stuff but also 01:54:20.220 --> 01:54:25.180 align:start position:0% charting all that fun stuff but also governance<01:54:20.670> so<01:54:20.820> you<01:54:20.880> have<01:54:21.120> to<01:54:21.270> get<01:54:21.390> away<01:54:21.450> a 01:54:25.180 --> 01:54:25.190 align:start position:0% 01:54:25.190 --> 01:54:28.370 align:start position:0% show<01:54:26.190> of<01:54:26.310> hands<01:54:26.490> how<01:54:26.820> many<01:54:26.850> of<01:54:27.120> you<01:54:27.270> know<01:54:27.870> above 01:54:28.370 --> 01:54:28.380 align:start position:0% show of hands how many of you know above 01:54:28.380 --> 01:54:35.780 align:start position:0% show of hands how many of you know above near<01:54:31.580> so<01:54:32.580> which<01:54:33.300> bill<01:54:34.280> that's<01:54:35.280> kind<01:54:35.580> of<01:54:35.640> not 01:54:35.780 --> 01:54:35.790 align:start position:0% near so which bill that's kind of not 01:54:35.790 --> 01:54:39.560 align:start position:0% near so which bill that's kind of not even<01:54:35.910> a<01:54:36.090> part<01:54:36.330> of<01:54:36.390> the<01:54:36.480> talk<01:54:37.520> Sameer<01:54:38.520> is<01:54:38.760> kind 01:54:39.560 --> 01:54:39.570 align:start position:0% even a part of the talk Sameer is kind 01:54:39.570 --> 01:54:45.230 align:start position:0% even a part of the talk Sameer is kind of<01:54:39.600> the<01:54:39.990> way<01:54:40.140> we<01:54:40.350> started<01:54:43.790> when<01:54:44.790> we<01:54:44.940> start 01:54:45.230 --> 01:54:45.240 align:start position:0% of the way we started when we start 01:54:45.240 --> 01:54:46.880 align:start position:0% of the way we started when we start looking<01:54:45.600> at<01:54:45.870> kind<01:54:46.110> of<01:54:46.260> Crichton<01:54:46.560> space<01:54:46.740> of 01:54:46.880 --> 01:54:46.890 align:start position:0% looking at kind of Crichton space of 01:54:46.890 --> 01:54:49.160 align:start position:0% looking at kind of Crichton space of what<01:54:47.040> changes<01:54:47.660> yes<01:54:48.660> there's<01:54:48.960> like 01:54:49.160 --> 01:54:49.170 align:start position:0% what changes yes there's like 01:54:49.170 --> 01:54:50.720 align:start position:0% what changes yes there's like scalability<01:54:49.740> issues<01:54:50.010> there's<01:54:50.310> a<01:54:50.400> lot<01:54:50.610> of 01:54:50.720 --> 01:54:50.730 align:start position:0% scalability issues there's a lot of 01:54:50.730 --> 01:54:52.490 align:start position:0% scalability issues there's a lot of people<01:54:50.850> working<01:54:51.300> that<01:54:51.330> actually<01:54:52.320> one<01:54:52.470> of 01:54:52.490 --> 01:54:52.500 align:start position:0% people working that actually one of 01:54:52.500 --> 01:54:54.920 align:start position:0% people working that actually one of those<01:54:52.680> main<01:54:52.950> concern<01:54:53.640> that<01:54:53.850> we<01:54:54.000> had<01:54:54.240> was<01:54:54.630> that 01:54:54.920 --> 01:54:54.930 align:start position:0% those main concern that we had was that 01:54:54.930 --> 01:54:58.220 align:start position:0% those main concern that we had was that is<01:54:55.560> pretty<01:54:56.400> much<01:54:56.700> like<01:54:57.570> proving<01:54:57.930> hard<01:54:58.110> to 01:54:58.220 --> 01:54:58.230 align:start position:0% is pretty much like proving hard to 01:54:58.230 --> 01:55:00.290 align:start position:0% is pretty much like proving hard to build<01:54:58.380> applications<01:54:59.040> on<01:54:59.190> consoles<01:55:00.000> all<01:55:00.180> right 01:55:00.290 --> 01:55:00.300 align:start position:0% build applications on consoles all right 01:55:00.300 --> 01:55:02.420 align:start position:0% build applications on consoles all right and<01:55:00.810> coming<01:55:01.080> from<01:55:01.290> that<01:55:01.470> too<01:55:01.710> right<01:55:02.010> little 01:55:02.420 --> 01:55:02.430 align:start position:0% and coming from that too right little 01:55:02.430 --> 01:55:05.810 align:start position:0% and coming from that too right little modifications<01:55:03.000> like<01:55:03.270> firebase<01:55:03.870> parts<01:55:04.820> like 01:55:05.810 --> 01:55:05.820 align:start position:0% modifications like firebase parts like 01:55:05.820 --> 01:55:08.030 align:start position:0% modifications like firebase parts like different<01:55:06.180> clouds<01:55:06.390> there's<01:55:07.260> so<01:55:07.560> much<01:55:07.680> to<01:55:07.920> me 01:55:08.030 --> 01:55:08.040 align:start position:0% different clouds there's so much to me 01:55:08.040 --> 01:55:09.740 align:start position:0% different clouds there's so much to me there's<01:55:08.340> no<01:55:08.460> much<01:55:08.610> libraries<01:55:09.060> and<01:55:09.540> make<01:55:09.720> a 01:55:09.740 --> 01:55:09.750 align:start position:0% there's no much libraries and make a 01:55:09.750 --> 01:55:13.460 align:start position:0% there's no much libraries and make a system<01:55:10.050> we<01:55:10.350> kind<01:55:10.530> of<01:55:10.620> developed<01:55:11.750> here<01:55:12.750> the 01:55:13.460 --> 01:55:13.470 align:start position:0% system we kind of developed here the 01:55:13.470 --> 01:55:15.710 align:start position:0% system we kind of developed here the kind<01:55:13.860> of<01:55:14.040> associate<01:55:14.700> Roasters<01:55:15.270> right<01:55:15.480> and<01:55:15.660> it 01:55:15.710 --> 01:55:15.720 align:start position:0% kind of associate Roasters right and it 01:55:15.720 --> 01:55:17.990 align:start position:0% kind of associate Roasters right and it comes<01:55:15.900> into<01:55:16.170> the<01:55:16.290> cart<01:55:16.560> and<01:55:16.680> it<01:55:17.190> takes<01:55:17.400> weeks 01:55:17.990 --> 01:55:18.000 align:start position:0% comes into the cart and it takes weeks 01:55:18.000 --> 01:55:19.419 align:start position:0% comes into the cart and it takes weeks or<01:55:18.240> a<01:55:18.270> month<01:55:18.330> special<01:55:18.780> board 01:55:19.419 --> 01:55:19.429 align:start position:0% or a month special board 01:55:19.429 --> 01:55:22.899 align:start position:0% or a month special board and<01:55:19.640> then<01:55:20.800> doubles<01:55:21.800> is<01:55:21.980> like<01:55:22.489> you<01:55:22.730> cannot 01:55:22.899 --> 01:55:22.909 align:start position:0% and then doubles is like you cannot 01:55:22.909 --> 01:55:24.939 align:start position:0% and then doubles is like you cannot actually<01:55:23.270> target<01:55:23.840> to<01:55:23.929> me<01:55:23.989> abusers<01:55:24.409> right<01:55:24.679> at 01:55:24.939 --> 01:55:24.949 align:start position:0% actually target to me abusers right at 01:55:24.949 --> 01:55:26.770 align:start position:0% actually target to me abusers right at the<01:55:25.130> end<01:55:25.280> it's<01:55:25.580> all<01:55:25.760> critical<01:55:26.090> users<01:55:26.449> which<01:55:26.690> is 01:55:26.770 --> 01:55:26.780 align:start position:0% the end it's all critical users which is 01:55:26.780 --> 01:55:29.080 align:start position:0% the end it's all critical users which is still<01:55:27.080> walking<01:55:27.530> into<01:55:27.949> you<01:55:28.130> so<01:55:28.670> figuring<01:55:28.940> out 01:55:29.080 --> 01:55:29.090 align:start position:0% still walking into you so figuring out 01:55:29.090 --> 01:55:31.120 align:start position:0% still walking into you so figuring out how<01:55:29.390> to<01:55:29.420> get<01:55:29.719> people<01:55:29.989> to<01:55:30.199> use<01:55:30.469> this<01:55:30.620> is 01:55:31.120 --> 01:55:31.130 align:start position:0% how to get people to use this is 01:55:31.130 --> 01:55:33.850 align:start position:0% how to get people to use this is important<01:55:31.610> now<01:55:32.449> the<01:55:33.230> thing<01:55:33.440> is<01:55:33.469> like 01:55:33.850 --> 01:55:33.860 align:start position:0% important now the thing is like 01:55:33.860 --> 01:55:36.490 align:start position:0% important now the thing is like obviously<01:55:34.100> you<01:55:34.880> cannot<01:55:35.270> figure<01:55:35.810> this<01:55:35.929> out<01:55:36.199> in 01:55:36.490 --> 01:55:36.500 align:start position:0% obviously you cannot figure this out in 01:55:36.500 --> 01:55:38.439 align:start position:0% obviously you cannot figure this out in it<01:55:36.590> from<01:55:36.800> the<01:55:36.890> beginning<01:55:37.040> from<01:55:37.489> a<01:55:37.580> start<01:55:37.909> like 01:55:38.439 --> 01:55:38.449 align:start position:0% it from the beginning from a start like 01:55:38.449 --> 01:55:40.270 align:start position:0% it from the beginning from a start like this<01:55:38.600> is<01:55:38.750> an<01:55:38.840> evolution<01:55:39.230> of<01:55:39.320> the<01:55:39.440> process<01:55:40.040> and 01:55:40.270 --> 01:55:40.280 align:start position:0% this is an evolution of the process and 01:55:40.280 --> 01:55:42.160 align:start position:0% this is an evolution of the process and to<01:55:40.610> do<01:55:40.820> that<01:55:41.000> you<01:55:41.239> need<01:55:41.330> the<01:55:41.390> process<01:55:41.929> copy 01:55:42.160 --> 01:55:42.170 align:start position:0% to do that you need the process copy 01:55:42.170 --> 01:55:44.560 align:start position:0% to do that you need the process copy evolving<01:55:42.679> protocol<01:55:43.130> how<01:55:43.760> do<01:55:43.820> you<01:55:44.030> all<01:55:44.210> your 01:55:44.560 --> 01:55:44.570 align:start position:0% evolving protocol how do you all your 01:55:44.570 --> 01:55:50.040 align:start position:0% evolving protocol how do you all your catalyst<01:55:45.560> to<01:55:46.310> hack<01:55:46.850> the<01:55:47.060> governance<01:55:47.449> now 01:55:50.040 --> 01:55:50.050 align:start position:0% catalyst to hack the governance now 01:55:50.050 --> 01:55:52.450 align:start position:0% catalyst to hack the governance now looking<01:55:51.050> from<01:55:51.140> our<01:55:51.320> perspective<01:55:51.890> defining 01:55:52.450 --> 01:55:52.460 align:start position:0% looking from our perspective defining 01:55:52.460 --> 01:55:54.280 align:start position:0% looking from our perspective defining governance<01:55:52.880> oh<01:55:53.030> we<01:55:53.360> haven't<01:55:53.510> like<01:55:53.989> Wayne 01:55:54.280 --> 01:55:54.290 align:start position:0% governance oh we haven't like Wayne 01:55:54.290 --> 01:55:56.800 align:start position:0% governance oh we haven't like Wayne asked<01:55:54.620> what<01:55:54.830> is<01:55:54.920> the<01:55:55.040> governor's<01:55:55.400> but<01:55:55.810> the 01:55:56.800 --> 01:55:56.810 align:start position:0% asked what is the governor's but the 01:55:56.810 --> 01:55:59.709 align:start position:0% asked what is the governor's but the question<01:55:57.350> is<01:55:57.500> how<01:55:58.130> do<01:55:58.190> you<01:55:58.370> define<01:55:58.790> governance 01:55:59.709 --> 01:55:59.719 align:start position:0% question is how do you define governance 01:55:59.719 --> 01:56:01.510 align:start position:0% question is how do you define governance like<01:55:59.840> what<01:56:00.050> is<01:56:00.170> like<01:56:00.320> a<01:56:00.530> in<01:56:00.770> our<01:56:00.920> governance<01:56:01.310> is 01:56:01.510 --> 01:56:01.520 align:start position:0% like what is like a in our governance is 01:56:01.520 --> 01:56:04.120 align:start position:0% like what is like a in our governance is a<01:56:01.550> blog<01:56:01.790> like<01:56:02.480> from<01:56:03.380> our<01:56:03.500> perspective<01:56:03.980> it's 01:56:04.120 --> 01:56:04.130 align:start position:0% a blog like from our perspective it's 01:56:04.130 --> 01:56:05.950 align:start position:0% a blog like from our perspective it's actually<01:56:04.429> about<01:56:04.610> a<01:56:04.670> defining<01:56:05.270> condition<01:56:05.690> like 01:56:05.950 --> 01:56:05.960 align:start position:0% actually about a defining condition like 01:56:05.960 --> 01:56:08.380 align:start position:0% actually about a defining condition like would<01:56:06.170> retract<01:56:06.469> achieve<01:56:06.860> and<01:56:07.159> then<01:56:07.730> culture 01:56:08.380 --> 01:56:08.390 align:start position:0% would retract achieve and then culture 01:56:08.390 --> 01:56:09.970 align:start position:0% would retract achieve and then culture of<01:56:08.510> how<01:56:08.719> to<01:56:08.780> make<01:56:09.050> decisions<01:56:09.170> towards<01:56:09.679> an 01:56:09.970 --> 01:56:09.980 align:start position:0% of how to make decisions towards an 01:56:09.980 --> 01:56:12.550 align:start position:0% of how to make decisions towards an adult<01:56:10.190> right<01:56:10.969> instead<01:56:11.690> of<01:56:11.750> like<01:56:12.080> oh<01:56:12.199> its<01:56:12.409> own 01:56:12.550 --> 01:56:12.560 align:start position:0% adult right instead of like oh its own 01:56:12.560 --> 01:56:13.630 align:start position:0% adult right instead of like oh its own chain<01:56:12.739> governance<01:56:13.250> you're<01:56:13.370> going<01:56:13.489> to<01:56:13.550> be 01:56:13.630 --> 01:56:13.640 align:start position:0% chain governance you're going to be 01:56:13.640 --> 01:56:15.520 align:start position:0% chain governance you're going to be voting<01:56:13.760> on<01:56:13.969> stuff<01:56:14.239> it's<01:56:14.449> like<01:56:14.510> hey<01:56:14.840> we<01:56:15.500> want 01:56:15.520 --> 01:56:15.530 align:start position:0% voting on stuff it's like hey we want 01:56:15.530 --> 01:56:17.800 align:start position:0% voting on stuff it's like hey we want you<01:56:15.949> know<01:56:16.100> every<01:56:16.580> single<01:56:16.790> person<01:56:16.969> in<01:56:17.690> the 01:56:17.800 --> 01:56:17.810 align:start position:0% you know every single person in the 01:56:17.810 --> 01:56:20.680 align:start position:0% you know every single person in the world<01:56:17.989> have<01:56:18.920> a<01:56:18.949> wallet<01:56:19.760> and<01:56:20.060> self<01:56:20.300> custody 01:56:20.680 --> 01:56:20.690 align:start position:0% world have a wallet and self custody 01:56:20.690 --> 01:56:24.250 align:start position:0% world have a wallet and self custody their<01:56:20.840> data<01:56:21.080> and<01:56:21.440> assets<01:56:21.860> and<01:56:22.840> we<01:56:23.840> want<01:56:24.020> every 01:56:24.250 --> 01:56:24.260 align:start position:0% their data and assets and we want every 01:56:24.260 --> 01:56:25.919 align:start position:0% their data and assets and we want every single<01:56:24.409> developer<01:56:24.770> to<01:56:25.250> be<01:56:25.310> building 01:56:25.919 --> 01:56:25.929 align:start position:0% single developer to be building 01:56:25.929 --> 01:56:28.000 align:start position:0% single developer to be building applications<01:56:26.929> of<01:56:27.020> launching<01:56:27.380> representa 01:56:28.000 --> 01:56:28.010 align:start position:0% applications of launching representa 01:56:28.010 --> 01:56:30.370 align:start position:0% applications of launching representa submission<01:56:28.460> and<01:56:28.699> then<01:56:29.120> the<01:56:29.600> culture<01:56:29.989> is<01:56:30.110> how 01:56:30.370 --> 01:56:30.380 align:start position:0% submission and then the culture is how 01:56:30.380 --> 01:56:34.390 align:start position:0% submission and then the culture is how do<01:56:30.440> you<01:56:30.530> actually<01:56:30.650> get<01:56:30.949> there<01:56:31.190> what<01:56:31.400> is<01:56:33.400> what 01:56:34.390 --> 01:56:34.400 align:start position:0% do you actually get there what is what 01:56:34.400 --> 01:56:38.020 align:start position:0% do you actually get there what is what are<01:56:34.489> the<01:56:34.550> rules<01:56:34.730> to<01:56:34.909> follow<01:56:35.980> so<01:56:36.980> on<01:56:37.850> the<01:56:37.940> other 01:56:38.020 --> 01:56:38.030 align:start position:0% are the rules to follow so on the other 01:56:38.030 --> 01:56:40.390 align:start position:0% are the rules to follow so on the other side<01:56:38.300> is<01:56:38.570> two<01:56:38.780> new<01:56:38.929> tools<01:56:39.140> right<01:56:39.530> we<01:56:40.250> are 01:56:40.390 --> 01:56:40.400 align:start position:0% side is two new tools right we are 01:56:40.400 --> 01:56:42.130 align:start position:0% side is two new tools right we are pretty<01:56:41.330> much 01:56:42.130 --> 01:56:42.140 align:start position:0% pretty much 01:56:42.140 --> 01:56:44.560 align:start position:0% pretty much the<01:56:42.530> space<01:56:42.800> right<01:56:43.130> and<01:56:43.370> we<01:56:43.790> all<01:56:43.910> love<01:56:44.210> building 01:56:44.560 --> 01:56:44.570 align:start position:0% the space right and we all love building 01:56:44.570 --> 01:56:46.540 align:start position:0% the space right and we all love building tools<01:56:44.810> and<01:56:45.590> the<01:56:45.680> thing<01:56:45.830> is<01:56:45.950> like<01:56:45.980> tools<01:56:46.340> can<01:56:46.520> be 01:56:46.540 --> 01:56:46.550 align:start position:0% tools and the thing is like tools can be 01:56:46.550 --> 01:56:48.370 align:start position:0% tools and the thing is like tools can be very<01:56:46.820> different<01:56:47.000> but<01:56:47.750> we<01:56:48.020> have<01:56:48.140> Swiss 01:56:48.370 --> 01:56:48.380 align:start position:0% very different but we have Swiss 01:56:48.380 --> 01:56:50.320 align:start position:0% very different but we have Swiss nominations<01:56:48.920> which<01:56:49.250> is<01:56:49.400> just<01:56:49.580> a<01:56:49.670> tool<01:56:49.910> for 01:56:50.320 --> 01:56:50.330 align:start position:0% nominations which is just a tool for 01:56:50.330 --> 01:56:52.480 align:start position:0% nominations which is just a tool for organizing<01:56:50.900> people<01:56:51.260> how<01:56:51.980> to<01:56:52.040> actually<01:56:52.310> make 01:56:52.480 --> 01:56:52.490 align:start position:0% organizing people how to actually make 01:56:52.490 --> 01:56:55.090 align:start position:0% organizing people how to actually make decisions<01:56:53.120> and<01:56:53.360> be<01:56:54.170> compliant<01:56:54.560> and<01:56:54.920> that's 01:56:55.090 --> 01:56:55.100 align:start position:0% decisions and be compliant and that's 01:56:55.100 --> 01:56:56.230 align:start position:0% decisions and be compliant and that's the<01:56:55.250> following 01:56:56.230 --> 01:56:56.240 align:start position:0% the following 01:56:56.240 --> 01:56:58.990 align:start position:0% the following still<01:56:57.100> relation<01:56:58.100> to<01:56:58.190> the<01:56:58.250> physical<01:56:58.580> world 01:56:58.990 --> 01:56:59.000 align:start position:0% still relation to the physical world 01:56:59.000 --> 01:57:01.000 align:start position:0% still relation to the physical world there's<01:56:59.360> often<01:56:59.540> tools<01:56:59.960> like<01:57:00.260> Twitter<01:57:00.500> got 01:57:01.000 --> 01:57:01.010 align:start position:0% there's often tools like Twitter got 01:57:01.010 --> 01:57:04.120 align:start position:0% there's often tools like Twitter got this<01:57:01.700> great<01:57:02.030> action<01:57:02.390> to<01:57:02.630> know<01:57:02.900> okay<01:57:03.620> then<01:57:03.920> make 01:57:04.120 --> 01:57:04.130 align:start position:0% this great action to know okay then make 01:57:04.130 --> 01:57:06.400 align:start position:0% this great action to know okay then make some<01:57:04.370> decisions<01:57:04.820> and<01:57:05.180> there's<01:57:05.900> my<01:57:06.020> coaching 01:57:06.400 --> 01:57:06.410 align:start position:0% some decisions and there's my coaching 01:57:06.410 --> 01:57:12.250 align:start position:0% some decisions and there's my coaching and<01:57:06.980> different<01:57:07.750> content<01:57:10.150> but<01:57:11.150> those<01:57:11.570> are<01:57:11.990> all 01:57:12.250 --> 01:57:12.260 align:start position:0% and different content but those are all 01:57:12.260 --> 01:57:14.410 align:start position:0% and different content but those are all tools<01:57:12.530> to<01:57:12.890> actually<01:57:13.280> facilitate<01:57:13.550> the<01:57:14.030> process 01:57:14.410 --> 01:57:14.420 align:start position:0% tools to actually facilitate the process 01:57:14.420 --> 01:57:18.870 align:start position:0% tools to actually facilitate the process and<01:57:14.690> I<01:57:15.680> mean<01:57:16.010> overtime<01:57:16.460> incentivizes<01:57:17.330> right 01:57:18.870 --> 01:57:18.880 align:start position:0% and I mean overtime incentivizes right 01:57:18.880 --> 01:57:27.700 align:start position:0% and I mean overtime incentivizes right behind<01:57:19.880> some<01:57:20.270> rocks<01:57:20.980> order<01:57:24.970> so<01:57:25.970> kind<01:57:26.570> of<01:57:26.710> one 01:57:27.700 --> 01:57:27.710 align:start position:0% behind some rocks order so kind of one 01:57:27.710 --> 01:57:29.710 align:start position:0% behind some rocks order so kind of one thing<01:57:27.950> that's<01:57:28.190> used<01:57:28.760> an<01:57:28.940> overload<01:57:29.300> is<01:57:29.540> that 01:57:29.710 --> 01:57:29.720 align:start position:0% thing that's used an overload is that 01:57:29.720 --> 01:57:31.540 align:start position:0% thing that's used an overload is that different<01:57:30.050> effects<01:57:30.650> before<01:57:30.860> and<01:57:31.160> different 01:57:31.540 --> 01:57:31.550 align:start position:0% different effects before and different 01:57:31.550 --> 01:57:34.710 align:start position:0% different effects before and different methods<01:57:31.880> right<01:57:32.360> like<01:57:32.870> if<01:57:32.990> you<01:57:33.080> think<01:57:33.230> of<01:57:33.380> it 01:57:34.710 --> 01:57:34.720 align:start position:0% methods right like if you think of it 01:57:34.720 --> 01:57:40.570 align:start position:0% methods right like if you think of it the<01:57:35.720> best<01:57:36.110> decision<01:57:36.890> process<01:57:37.660> is<01:57:38.660> not<01:57:39.580> it's 01:57:40.570 --> 01:57:40.580 align:start position:0% the best decision process is not it's 01:57:40.580 --> 01:57:42.250 align:start position:0% the best decision process is not it's actually<01:57:40.730> consensus<01:57:41.480> and<01:57:41.660> everybody<01:57:42.140> around 01:57:42.250 --> 01:57:42.260 align:start position:0% actually consensus and everybody around 01:57:42.260 --> 01:57:45.940 align:start position:0% actually consensus and everybody around the<01:57:42.500> table<01:57:42.650> agrees<01:57:43.460> on<01:57:43.640> the<01:57:43.730> same<01:57:43.910> thing<01:57:44.950> come 01:57:45.940 --> 01:57:45.950 align:start position:0% the table agrees on the same thing come 01:57:45.950 --> 01:57:47.980 align:start position:0% the table agrees on the same thing come into<01:57:46.190> this<01:57:46.250> different<01:57:46.550> view<01:57:46.850> that<01:57:47.690> sort<01:57:47.960> of 01:57:47.980 --> 01:57:47.990 align:start position:0% into this different view that sort of 01:57:47.990 --> 01:57:49.690 align:start position:0% into this different view that sort of conversations<01:57:48.740> we<01:57:48.950> were<01:57:49.130> kind<01:57:49.340> of<01:57:49.400> figuring 01:57:49.690 --> 01:57:49.700 align:start position:0% conversations we were kind of figuring 01:57:49.700 --> 01:57:51.640 align:start position:0% conversations we were kind of figuring out<01:57:50.000> what<01:57:50.420> was<01:57:50.660> the<01:57:50.900> difference<01:57:51.110> in<01:57:51.380> views 01:57:51.640 --> 01:57:51.650 align:start position:0% out what was the difference in views 01:57:51.650 --> 01:57:53.830 align:start position:0% out what was the difference in views actually<01:57:52.250> figure<01:57:52.700> out<01:57:52.850> what<01:57:53.240> is<01:57:53.360> the<01:57:53.510> best 01:57:53.830 --> 01:57:53.840 align:start position:0% actually figure out what is the best 01:57:53.840 --> 01:57:54.370 align:start position:0% actually figure out what is the best option 01:57:54.370 --> 01:57:54.380 align:start position:0% option 01:57:54.380 --> 01:57:57.850 align:start position:0% option I<01:57:54.620> want<01:57:55.400> everybody<01:57:55.670> together<01:57:55.970> and<01:57:56.740> all<01:57:57.740> this 01:57:57.850 --> 01:57:57.860 align:start position:0% I want everybody together and all this 01:57:57.860 --> 01:58:00.160 align:start position:0% I want everybody together and all this is<01:57:58.040> done<01:57:58.220> scale<01:57:58.580> right<01:57:58.820> you<01:57:58.970> cannot<01:57:59.180> put<01:57:59.510> you 01:58:00.160 --> 01:58:00.170 align:start position:0% is done scale right you cannot put you 01:58:00.170 --> 01:58:01.960 align:start position:0% is done scale right you cannot put you know<01:58:00.320> hundreds<01:58:01.010> of<01:58:01.100> thousands<01:58:01.490> of<01:58:01.550> people<01:58:01.880> in 01:58:01.960 --> 01:58:01.970 align:start position:0% know hundreds of thousands of people in 01:58:01.970 --> 01:58:04.780 align:start position:0% know hundreds of thousands of people in one<01:58:02.090> room<01:58:02.240> and<01:58:02.710> decision<01:58:03.710> even<01:58:04.310> those<01:58:04.430> 100 01:58:04.780 --> 01:58:04.790 align:start position:0% one room and decision even those 100 01:58:04.790 --> 01:58:07.710 align:start position:0% one room and decision even those 100 people<01:58:04.820> that's<01:58:05.270> already<01:58:05.450> pretty<01:58:05.660> on<01:58:05.810> scalable 01:58:07.710 --> 01:58:07.720 align:start position:0% people that's already pretty on scalable 01:58:07.720 --> 01:58:10.180 align:start position:0% people that's already pretty on scalable and<01:58:08.720> it<01:58:08.840> actually<01:58:09.080> works<01:58:09.440> way<01:58:09.680> better<01:58:09.710> any 01:58:10.180 --> 01:58:10.190 align:start position:0% and it actually works way better any 01:58:10.190 --> 01:58:12.100 align:start position:0% and it actually works way better any person<01:58:10.610> because<01:58:11.030> like<01:58:11.360> we<01:58:11.630> have<01:58:11.780> you<01:58:11.990> know 01:58:12.100 --> 01:58:12.110 align:start position:0% person because like we have you know 01:58:12.110 --> 01:58:15.050 align:start position:0% person because like we have you know millions<01:58:12.800> of<01:58:13.070> years<01:58:13.370> figuring<01:58:13.760> out 01:58:15.050 --> 01:58:15.060 align:start position:0% millions of years figuring out 01:58:15.060 --> 01:58:19.130 align:start position:0% millions of years figuring out each<01:58:15.150> other<01:58:15.330> in<01:58:15.690> person<01:58:16.130> and<01:58:17.180> my<01:58:18.180> chats<01:58:18.600> and 01:58:19.130 --> 01:58:19.140 align:start position:0% each other in person and my chats and 01:58:19.140 --> 01:58:23.780 align:start position:0% each other in person and my chats and Twitter<01:58:19.560> etc<01:58:19.770> become<01:58:20.370> extremely<01:58:22.580> well<01:58:23.580> just 01:58:23.780 --> 01:58:23.790 align:start position:0% Twitter etc become extremely well just 01:58:23.790 --> 01:58:27.980 align:start position:0% Twitter etc become extremely well just solving<01:58:24.510> over<01:58:25.050> time<01:58:25.550> now<01:58:26.550> doc<01:58:27.210> said<01:58:27.630> mister 01:58:27.980 --> 01:58:27.990 align:start position:0% solving over time now doc said mister 01:58:27.990 --> 01:58:30.410 align:start position:0% solving over time now doc said mister those<01:58:28.320> tender<01:58:28.710> doctor<01:58:29.040> sooner<01:58:29.280> we<01:58:29.670> elect 01:58:30.410 --> 01:58:30.420 align:start position:0% those tender doctor sooner we elect 01:58:30.420 --> 01:58:33.950 align:start position:0% those tender doctor sooner we elect somebody<01:58:31.730> presumably<01:58:32.730> is<01:58:33.060> fast<01:58:33.510> at<01:58:33.810> doing 01:58:33.950 --> 01:58:33.960 align:start position:0% somebody presumably is fast at doing 01:58:33.960 --> 01:58:35.840 align:start position:0% somebody presumably is fast at doing this<01:58:34.380> function<01:58:34.830> right<01:58:34.980> and<01:58:35.400> this<01:58:35.520> is<01:58:35.640> for 01:58:35.840 --> 01:58:35.850 align:start position:0% this function right and this is for 01:58:35.850 --> 01:58:37.670 align:start position:0% this function right and this is for example<01:58:35.910> like<01:58:36.540> for<01:58:36.720> technical<01:58:37.140> decisions 01:58:37.670 --> 01:58:37.680 align:start position:0% example like for technical decisions 01:58:37.680 --> 01:58:41.330 align:start position:0% example like for technical decisions right<01:58:37.950> and<01:58:38.550> like<01:58:38.700> you<01:58:38.940> know<01:58:39.060> Damocles<01:58:40.310> knows<01:58:41.310> a 01:58:41.330 --> 01:58:41.340 align:start position:0% right and like you know Damocles knows a 01:58:41.340 --> 01:58:42.770 align:start position:0% right and like you know Damocles knows a lot<01:58:41.670> you<01:58:41.970> know<01:58:42.090> I've<01:58:42.240> been<01:58:42.270> thinking<01:58:42.690> about 01:58:42.770 --> 01:58:42.780 align:start position:0% lot you know I've been thinking about 01:58:42.780 --> 01:58:44.120 align:start position:0% lot you know I've been thinking about this<01:58:42.990> a<01:58:43.050> lot<01:58:43.170> I<01:58:43.320> can<01:58:43.710> make<01:58:43.890> those<01:58:43.980> decisions 01:58:44.120 --> 01:58:44.130 align:start position:0% this a lot I can make those decisions 01:58:44.130 --> 01:58:49.160 align:start position:0% this a lot I can make those decisions and<01:58:44.700> then<01:58:46.250> this<01:58:47.250> is<01:58:47.370> great<01:58:47.610> and<01:58:47.940> like<01:58:48.540> this<01:58:48.990> is 01:58:49.160 --> 01:58:49.170 align:start position:0% and then this is great and like this is 01:58:49.170 --> 01:58:52.580 align:start position:0% and then this is great and like this is made<01:58:49.500> sense<01:58:49.800> for<01:58:50.010> a<01:58:50.070> lot<01:58:50.220> of<01:58:50.250> tasks<01:58:50.790> but<01:58:51.590> in 01:58:52.580 --> 01:58:52.590 align:start position:0% made sense for a lot of tasks but in 01:58:52.590 --> 01:58:54.680 align:start position:0% made sense for a lot of tasks but in kind<01:58:52.860> of<01:58:52.890> more<01:58:53.340> global<01:58:53.790> consensus<01:58:54.240> right<01:58:54.390> mr. 01:58:54.680 --> 01:58:54.690 align:start position:0% kind of more global consensus right mr. 01:58:54.690 --> 01:58:57.320 align:start position:0% kind of more global consensus right mr. interview<01:58:55.230> to<01:58:55.440> still<01:58:55.680> mean<01:58:55.920> to<01:58:55.950> where<01:58:56.330> one 01:58:57.320 --> 01:58:57.330 align:start position:0% interview to still mean to where one 01:58:57.330 --> 01:59:01.430 align:start position:0% interview to still mean to where one person<01:58:57.750> in<01:58:57.930> on<01:58:58.050> half<01:58:58.400> attempt<01:58:59.750> to<01:59:00.750> capture<01:59:01.080> all 01:59:01.430 --> 01:59:01.440 align:start position:0% person in on half attempt to capture all 01:59:01.440 --> 01:59:05.870 align:start position:0% person in on half attempt to capture all the<01:59:01.680> possible<01:59:02.390> roles<01:59:04.400> and<01:59:05.400> then<01:59:05.520> dessert 01:59:05.870 --> 01:59:05.880 align:start position:0% the possible roles and then dessert 01:59:05.880 --> 01:59:08.000 align:start position:0% the possible roles and then dessert oxidizes<01:59:06.720> voting<01:59:07.110> is<01:59:07.260> kind<01:59:07.500> of<01:59:07.530> what<01:59:07.680> we<01:59:07.830> used 01:59:08.000 --> 01:59:08.010 align:start position:0% oxidizes voting is kind of what we used 01:59:08.010 --> 01:59:10.910 align:start position:0% oxidizes voting is kind of what we used to<01:59:08.130> it's<01:59:08.730> great<01:59:08.910> to<01:59:09.180> get<01:59:09.390> decision<01:59:10.380> to<01:59:10.590> make<01:59:10.740> to 01:59:10.910 --> 01:59:10.920 align:start position:0% to it's great to get decision to make to 01:59:10.920 --> 01:59:12.590 align:start position:0% to it's great to get decision to make to build<01:59:11.130> a<01:59:11.220> decision<01:59:11.700> from<01:59:11.940> there's<01:59:12.360> a<01:59:12.420> large 01:59:12.590 --> 01:59:12.600 align:start position:0% build a decision from there's a large 01:59:12.600 --> 01:59:14.780 align:start position:0% build a decision from there's a large number<01:59:12.660> of<01:59:12.870> people<01:59:13.050> but<01:59:13.470> it's<01:59:14.400> inherited 01:59:14.780 --> 01:59:14.790 align:start position:0% number of people but it's inherited 01:59:14.790 --> 01:59:16.700 align:start position:0% number of people but it's inherited device<01:59:15.120> right<01:59:15.450> in<01:59:15.630> Lincoln's<01:59:16.020> I<01:59:16.200> think<01:59:16.440> yes<01:59:16.590> or 01:59:16.700 --> 01:59:16.710 align:start position:0% device right in Lincoln's I think yes or 01:59:16.710 --> 01:59:17.839 align:start position:0% device right in Lincoln's I think yes or no 01:59:17.839 --> 01:59:17.849 align:start position:0% no 01:59:17.849 --> 01:59:19.550 align:start position:0% no there's<01:59:18.389> no<01:59:18.540> way<01:59:18.780> that<01:59:18.929> kind<01:59:19.230> of<01:59:19.320> had<01:59:19.530> a 01:59:19.550 --> 01:59:19.560 align:start position:0% there's no way that kind of had a 01:59:19.560 --> 01:59:21.140 align:start position:0% there's no way that kind of had a nuanced<01:59:19.920> conversation<01:59:20.099> and<01:59:20.730> figured<01:59:21.030> out 01:59:21.140 --> 01:59:21.150 align:start position:0% nuanced conversation and figured out 01:59:21.150 --> 01:59:23.270 align:start position:0% nuanced conversation and figured out maybe<01:59:21.449> there's<01:59:21.659> a<01:59:21.750> better<01:59:21.869> proposal<01:59:22.170> and<01:59:22.980> also 01:59:23.270 --> 01:59:23.280 align:start position:0% maybe there's a better proposal and also 01:59:23.280 --> 01:59:26.300 align:start position:0% maybe there's a better proposal and also subtle<01:59:23.760> very<01:59:24.659> often<01:59:25.050> the<01:59:25.170> proposal<01:59:25.650> itself<01:59:25.949> is 01:59:26.300 --> 01:59:26.310 align:start position:0% subtle very often the proposal itself is 01:59:26.310 --> 01:59:29.300 align:start position:0% subtle very often the proposal itself is written<01:59:26.489> by<01:59:26.820> a<01:59:27.270> single<01:59:27.989> person<01:59:28.380> or<01:59:28.440> entity<01:59:28.590> and 01:59:29.300 --> 01:59:29.310 align:start position:0% written by a single person or entity and 01:59:29.310 --> 01:59:32.240 align:start position:0% written by a single person or entity and kind<01:59:29.639> of<01:59:29.760> in<01:59:30.090> currently<01:59:30.420> has<01:59:30.659> some<01:59:31.219> biases<01:59:32.219> of 01:59:32.240 --> 01:59:32.250 align:start position:0% kind of in currently has some biases of 01:59:32.250 --> 01:59:35.089 align:start position:0% kind of in currently has some biases of that<01:59:32.849> and<01:59:33.239> container<01:59:33.719> of<01:59:33.780> suffering<01:59:34.260> humans 01:59:35.089 --> 01:59:35.099 align:start position:0% that and container of suffering humans 01:59:35.099 --> 01:59:36.530 align:start position:0% that and container of suffering humans it<01:59:35.219> usually<01:59:35.610> has<01:59:35.790> some<01:59:36.030> kind<01:59:36.239> of<01:59:36.300> nested 01:59:36.530 --> 01:59:36.540 align:start position:0% it usually has some kind of nested 01:59:36.540 --> 01:59:41.089 align:start position:0% it usually has some kind of nested interest<01:59:36.869> so<01:59:39.050> that<01:59:40.050> is<01:59:40.320> to<01:59:40.650> kind<01:59:40.829> of<01:59:40.860> combine 01:59:41.089 --> 01:59:41.099 align:start position:0% interest so that is to kind of combine 01:59:41.099 --> 01:59:43.270 align:start position:0% interest so that is to kind of combine this<01:59:41.489> message<01:59:41.880> right<01:59:42.060> and<01:59:42.300> figure<01:59:42.599> out<01:59:42.750> how<01:59:43.050> to 01:59:43.270 --> 01:59:43.280 align:start position:0% this message right and figure out how to 01:59:43.280 --> 01:59:45.950 align:start position:0% this message right and figure out how to kind<01:59:44.280> of<01:59:44.340> follow<01:59:44.579> the<01:59:44.820> principles<01:59:45.360> and<01:59:45.510> get<01:59:45.750> to 01:59:45.950 --> 01:59:45.960 align:start position:0% kind of follow the principles and get to 01:59:45.960 --> 01:59:47.930 align:start position:0% kind of follow the principles and get to you<01:59:46.560> know<01:59:46.650> submission<01:59:47.219> the<01:59:47.400> goal<01:59:47.579> we<01:59:47.760> have 01:59:47.930 --> 01:59:47.940 align:start position:0% you know submission the goal we have 01:59:47.940 --> 01:59:51.649 align:start position:0% you know submission the goal we have right<01:59:48.239> so<01:59:48.510> like<01:59:49.730> just<01:59:50.730> to<01:59:50.940> you<01:59:51.090> know<01:59:51.150> exhibit 01:59:51.649 --> 01:59:51.659 align:start position:0% right so like just to you know exhibit 01:59:51.659 --> 01:59:52.970 align:start position:0% right so like just to you know exhibit just<01:59:51.750> those<01:59:51.929> that<01:59:52.050> you're<01:59:52.170> trying<01:59:52.409> to<01:59:52.530> be<01:59:52.710> like 01:59:52.970 --> 01:59:52.980 align:start position:0% just those that you're trying to be like 01:59:52.980 --> 01:59:54.680 align:start position:0% just those that you're trying to be like elevated<01:59:53.790> we<01:59:53.909> kind<01:59:54.090> of<01:59:54.150> talked<01:59:54.329> a<01:59:54.360> little<01:59:54.540> bit 01:59:54.680 --> 01:59:54.690 align:start position:0% elevated we kind of talked a little bit 01:59:54.690 --> 01:59:56.330 align:start position:0% elevated we kind of talked a little bit about<01:59:54.810> the<01:59:55.020> tools<01:59:55.260> that<01:59:55.349> we<01:59:55.469> want<01:59:55.710> to<01:59:55.800> use<01:59:55.980> for 01:59:56.330 --> 01:59:56.340 align:start position:0% about the tools that we want to use for 01:59:56.340 --> 01:59:58.129 align:start position:0% about the tools that we want to use for this<01:59:56.460> but<01:59:57.119> the<01:59:57.210> principles<01:59:57.690> gonna<01:59:57.900> follow 01:59:58.129 --> 01:59:58.139 align:start position:0% this but the principles gonna follow 01:59:58.139 --> 02:00:00.080 align:start position:0% this but the principles gonna follow what<01:59:58.409> is<01:59:58.560> to<01:59:59.130> make<01:59:59.250> sure<01:59:59.280> that<01:59:59.460> there's<01:59:59.880> clear 02:00:00.080 --> 02:00:00.090 align:start position:0% what is to make sure that there's clear 02:00:00.090 --> 02:00:02.149 align:start position:0% what is to make sure that there's clear goals<02:00:00.360> like<02:00:00.750> their<02:00:01.050> mission<02:00:01.469> and<02:00:01.980> they're 02:00:02.149 --> 02:00:02.159 align:start position:0% goals like their mission and they're 02:00:02.159 --> 02:00:04.129 align:start position:0% goals like their mission and they're kind<02:00:02.460> of<02:00:02.520> pokey<02:00:02.909> are<02:00:03.030> symmetrical<02:00:03.719> metrics 02:00:04.129 --> 02:00:04.139 align:start position:0% kind of pokey are symmetrical metrics 02:00:04.139 --> 02:00:06.379 align:start position:0% kind of pokey are symmetrical metrics that<02:00:04.349> you<02:00:04.500> can<02:00:04.619> target<02:00:04.920> as<02:00:05.760> a<02:00:05.820> community 02:00:06.379 --> 02:00:06.389 align:start position:0% that you can target as a community 02:00:06.389 --> 02:00:08.180 align:start position:0% that you can target as a community that's<02:00:06.719> everybody<02:00:07.260> in<02:00:07.320> here<02:00:07.560> like<02:00:07.710> hey<02:00:07.920> we 02:00:08.180 --> 02:00:08.190 align:start position:0% that's everybody in here like hey we 02:00:08.190 --> 02:00:09.770 align:start position:0% that's everybody in here like hey we want<02:00:08.219> to<02:00:08.460> get<02:00:08.610> more<02:00:08.880> users<02:00:09.090> going<02:00:09.449> to<02:00:09.540> get<02:00:09.630> some 02:00:09.770 --> 02:00:09.780 align:start position:0% want to get more users going to get some 02:00:09.780 --> 02:00:13.069 align:start position:0% want to get more users going to get some with<02:00:09.869> developers<02:00:10.699> and<02:00:11.699> be<02:00:12.599> able<02:00:12.840> to<02:00:12.929> measure 02:00:13.069 --> 02:00:13.079 align:start position:0% with developers and be able to measure 02:00:13.079 --> 02:00:15.140 align:start position:0% with developers and be able to measure it<02:00:13.290> that's<02:00:13.770> important<02:00:14.190> coming<02:00:14.610> to<02:00:14.760> developers 02:00:15.140 --> 02:00:15.150 align:start position:0% it that's important coming to developers 02:00:15.150 --> 02:00:18.399 align:start position:0% it that's important coming to developers write<02:00:15.329> down<02:00:15.510> actually<02:00:16.469> see<02:00:16.980> your<02:00:17.150> system 02:00:18.399 --> 02:00:18.409 align:start position:0% write down actually see your system 02:00:18.409 --> 02:00:23.270 align:start position:0% write down actually see your system clear<02:00:20.750> your<02:00:21.750> them<02:00:21.929> into<02:00:22.260> decisions<02:00:23.099> that's 02:00:23.270 --> 02:00:23.280 align:start position:0% clear your them into decisions that's 02:00:23.280 --> 02:00:26.180 align:start position:0% clear your them into decisions that's bad<02:00:23.460> right<02:00:23.820> so<02:00:24.150> right<02:00:24.329> now<02:00:24.480> like<02:00:25.260> it's 02:00:26.180 --> 02:00:26.190 align:start position:0% bad right so right now like it's 02:00:26.190 --> 02:00:27.890 align:start position:0% bad right so right now like it's actually<02:00:26.489> really<02:00:26.670> hard<02:00:26.940> to<02:00:27.060> be<02:00:27.270> technical 02:00:27.890 --> 02:00:27.900 align:start position:0% actually really hard to be technical 02:00:27.900 --> 02:00:29.479 align:start position:0% actually really hard to be technical that's<02:00:28.260> been<02:00:28.409> technical<02:00:28.860> decision<02:00:29.190> sided 02:00:29.479 --> 02:00:29.489 align:start position:0% that's been technical decision sided 02:00:29.489 --> 02:00:31.550 align:start position:0% that's been technical decision sided because<02:00:29.610> of<02:00:30.000> so<02:00:30.210> comedians<02:00:30.560> conversations 02:00:31.550 --> 02:00:31.560 align:start position:0% because of so comedians conversations 02:00:31.560 --> 02:00:33.770 align:start position:0% because of so comedians conversations it's<02:00:31.889> weight<02:00:32.070> on<02:00:32.280> way<02:00:32.550> better<02:00:32.760> done<02:00:33.060> was<02:00:33.659> in 02:00:33.770 --> 02:00:33.780 align:start position:0% it's weight on way better done was in 02:00:33.780 --> 02:00:35.930 align:start position:0% it's weight on way better done was in the<02:00:33.869> room<02:00:34.079> right<02:00:34.349> like<02:00:34.949> with<02:00:35.159> whiteboard<02:00:35.639> deck 02:00:35.930 --> 02:00:35.940 align:start position:0% the room right like with whiteboard deck 02:00:35.940 --> 02:00:38.660 align:start position:0% the room right like with whiteboard deck into<02:00:36.090> discussing<02:00:36.480> but<02:00:37.320> like<02:00:38.130> making<02:00:38.400> it 02:00:38.660 --> 02:00:38.670 align:start position:0% into discussing but like making it 02:00:38.670 --> 02:00:40.580 align:start position:0% into discussing but like making it action<02:00:39.210> since<02:00:39.389> paradise<02:00:39.869> replay<02:00:40.199> exists 02:00:40.580 --> 02:00:40.590 align:start position:0% action since paradise replay exists 02:00:40.590 --> 02:00:43.370 align:start position:0% action since paradise replay exists putting<02:00:41.219> it<02:00:41.310> in<02:00:41.400> about<02:00:41.579> like<02:00:41.929> showing<02:00:42.929> how<02:00:43.320> the 02:00:43.370 --> 02:00:43.380 align:start position:0% putting it in about like showing how the 02:00:43.380 --> 02:00:45.770 align:start position:0% putting it in about like showing how the decisions<02:00:44.040> are<02:00:44.130> made<02:00:44.190> not<02:00:44.639> just<02:00:44.699> by<02:00:45.090> K<02:00:45.329> this<02:00:45.570> is 02:00:45.770 --> 02:00:45.780 align:start position:0% decisions are made not just by K this is 02:00:45.780 --> 02:00:48.550 align:start position:0% decisions are made not just by K this is a<02:00:46.310> home<02:00:47.310> is<02:00:47.489> it's<02:00:47.670> safer<02:00:48.000> community 02:00:48.550 --> 02:00:48.560 align:start position:0% a home is it's safer community 02:00:48.560 --> 02:00:52.060 align:start position:0% a home is it's safer community Congrats<02:00:50.230> you<02:00:51.230> wanna<02:00:51.410> make<02:00:51.710> the<02:00:51.890> strategic 02:00:52.060 --> 02:00:52.070 align:start position:0% Congrats you wanna make the strategic 02:00:52.070 --> 02:00:55.080 align:start position:0% Congrats you wanna make the strategic decisions<02:00:52.820> right<02:00:53.030> by<02:00:53.690> bringing<02:00:53.990> people<02:00:54.140> for 02:00:55.080 --> 02:00:55.090 align:start position:0% decisions right by bringing people for 02:00:55.090 --> 02:00:57.250 align:start position:0% decisions right by bringing people for representing<02:00:56.090> different<02:00:56.270> roles<02:00:56.660> and<02:00:57.050> like 02:00:57.250 --> 02:00:57.260 align:start position:0% representing different roles and like 02:00:57.260 --> 02:01:01.420 align:start position:0% representing different roles and like goals<02:00:57.680> talk<02:00:58.490> about<02:00:58.760> this<02:00:58.910> again<02:00:59.090> later<02:00:59.750> but<02:01:00.430> in 02:01:01.420 --> 02:01:01.430 align:start position:0% goals talk about this again later but in 02:01:01.430 --> 02:01:03.730 align:start position:0% goals talk about this again later but in person<02:01:01.730> right<02:01:02.210> and<02:01:02.420> get<02:01:02.810> to<02:01:02.960> consensus<02:01:03.470> like 02:01:03.730 --> 02:01:03.740 align:start position:0% person right and get to consensus like 02:01:03.740 --> 02:01:05.260 align:start position:0% person right and get to consensus like for<02:01:03.920> strategic<02:01:04.400> decisions<02:01:04.820> you<02:01:04.940> want<02:01:05.150> this 02:01:05.260 --> 02:01:05.270 align:start position:0% for strategic decisions you want this 02:01:05.270 --> 02:01:07.090 align:start position:0% for strategic decisions you want this consensus<02:01:05.900> where<02:01:06.140> like<02:01:06.320> everybody<02:01:06.650> agrees 02:01:07.090 --> 02:01:07.100 align:start position:0% consensus where like everybody agrees 02:01:07.100 --> 02:01:08.620 align:start position:0% consensus where like everybody agrees that<02:01:07.130> this<02:01:07.370> is<02:01:07.550> the<02:01:07.640> best<02:01:07.850> option<02:01:08.060> right<02:01:08.420> and 02:01:08.620 --> 02:01:08.630 align:start position:0% that this is the best option right and 02:01:08.630 --> 02:01:10.300 align:start position:0% that this is the best option right and they<02:01:08.810> bring<02:01:09.110> whatever<02:01:09.500> the<02:01:09.650> concerns<02:01:10.130> and 02:01:10.300 --> 02:01:10.310 align:start position:0% they bring whatever the concerns and 02:01:10.310 --> 02:01:14.020 align:start position:0% they bring whatever the concerns and half<02:01:10.550> up<02:01:10.880> front<02:01:10.910> and<02:01:11.390> get<02:01:11.900> investment<02:01:12.350> and<02:01:13.030> for 02:01:14.020 --> 02:01:14.030 align:start position:0% half up front and get investment and for 02:01:14.030 --> 02:01:15.790 align:start position:0% half up front and get investment and for technical<02:01:14.450> decisions<02:01:14.870> right<02:01:15.080> like<02:01:15.320> let's<02:01:15.530> say 02:01:15.790 --> 02:01:15.800 align:start position:0% technical decisions right like let's say 02:01:15.800 --> 02:01:18.910 align:start position:0% technical decisions right like let's say hey<02:01:16.100> you<02:01:16.970> know<02:01:17.090> like<02:01:17.750> Louie<02:01:18.020> like<02:01:18.590> we<02:01:18.740> need<02:01:18.890> to 02:01:18.910 --> 02:01:18.920 align:start position:0% hey you know like Louie like we need to 02:01:18.920 --> 02:01:20.680 align:start position:0% hey you know like Louie like we need to think<02:01:19.400> some<02:01:19.640> five<02:01:19.850> minute<02:01:20.210> this<02:01:20.360> is<02:01:20.510> not 02:01:20.680 --> 02:01:20.690 align:start position:0% think some five minute this is not 02:01:20.690 --> 02:01:23.440 align:start position:0% think some five minute this is not something<02:01:21.140> that<02:01:21.170> like<02:01:22.010> you<02:01:22.430> need<02:01:22.700> that<02:01:22.730> huge 02:01:23.440 --> 02:01:23.450 align:start position:0% something that like you need that huge 02:01:23.450 --> 02:01:24.820 align:start position:0% something that like you need that huge community<02:01:23.900> support<02:01:24.320> right<02:01:24.470> this<02:01:24.680> is 02:01:24.820 --> 02:01:24.830 align:start position:0% community support right this is 02:01:24.830 --> 02:01:27.580 align:start position:0% community support right this is something<02:01:25.190> that<02:01:25.400> you<02:01:25.520> can<02:01:25.700> have<02:01:25.960> an<02:01:26.960> elected 02:01:27.580 --> 02:01:27.590 align:start position:0% something that you can have an elected 02:01:27.590 --> 02:01:29.740 align:start position:0% something that you can have an elected people<02:01:27.920> who<02:01:28.280> are<02:01:28.370> held<02:01:28.550> accountable<02:01:28.970> but<02:01:29.660> at 02:01:29.740 --> 02:01:29.750 align:start position:0% people who are held accountable but at 02:01:29.750 --> 02:01:31.630 align:start position:0% people who are held accountable but at the<02:01:29.810> same<02:01:29.990> time<02:01:30.230> have<02:01:30.590> can<02:01:30.920> have<02:01:31.070> a<02:01:31.130> really 02:01:31.630 --> 02:01:31.640 align:start position:0% the same time have can have a really 02:01:31.640 --> 02:01:37.990 align:start position:0% the same time have can have a really good<02:01:31.820> decision<02:01:35.080> and<02:01:36.080> it's<02:01:36.710> kind<02:01:36.980> of<02:01:37.040> finished 02:01:37.990 --> 02:01:38.000 align:start position:0% good decision and it's kind of finished 02:01:38.000 --> 02:01:40.060 align:start position:0% good decision and it's kind of finished out<02:01:38.150> is<02:01:38.360> that<02:01:38.570> like<02:01:39.140> all<02:01:39.290> those<02:01:39.440> tools<02:01:39.710> into 02:01:40.060 --> 02:01:40.070 align:start position:0% out is that like all those tools into 02:01:40.070 --> 02:01:41.680 align:start position:0% out is that like all those tools into building<02:01:40.430> like<02:01:40.550> Aragon<02:01:40.940> is<02:01:41.090> new<02:01:41.240> great<02:01:41.450> job 02:01:41.680 --> 02:01:41.690 align:start position:0% building like Aragon is new great job 02:01:41.690 --> 02:01:46.560 align:start position:0% building like Aragon is new great job right<02:01:42.400> does<02:01:43.400> be<02:01:43.760> grab<02:01:44.060> but<02:01:45.020> they<02:01:45.500> all<02:01:45.650> kind<02:01:45.980> of 02:01:46.560 --> 02:01:46.570 align:start position:0% right does be grab but they all kind of 02:01:46.570 --> 02:01:48.520 align:start position:0% right does be grab but they all kind of experiments<02:01:47.570> right<02:01:47.660> we<02:01:47.870> don't<02:01:47.960> really<02:01:48.200> know 02:01:48.520 --> 02:01:48.530 align:start position:0% experiments right we don't really know 02:01:48.530 --> 02:01:50.560 align:start position:0% experiments right we don't really know what<02:01:48.920> the<02:01:49.010> parts<02:01:49.250> of<02:01:49.340> investment<02:01:49.910> and<02:01:50.240> what 02:01:50.560 --> 02:01:50.570 align:start position:0% what the parts of investment and what 02:01:50.570 --> 02:01:52.180 align:start position:0% what the parts of investment and what you<02:01:50.690> need<02:01:50.870> to<02:01:50.990> do<02:01:51.140> is<02:01:51.350> we<02:01:51.530> need<02:01:51.590> to<02:01:51.680> test<02:01:52.010> them 02:01:52.180 --> 02:01:52.190 align:start position:0% you need to do is we need to test them 02:01:52.190 --> 02:01:53.259 align:start position:0% you need to do is we need to test them first 02:01:53.259 --> 02:01:53.269 align:start position:0% first 02:01:53.269 --> 02:01:55.750 align:start position:0% first I'm<02:01:53.929> kind<02:01:54.229> of<02:01:54.260> a<02:01:54.379> little<02:01:54.589> bit<02:01:54.679> of<02:01:54.799> state<02:01:55.099> and 02:01:55.750 --> 02:01:55.760 align:start position:0% I'm kind of a little bit of state and 02:01:55.760 --> 02:02:00.939 align:start position:0% I'm kind of a little bit of state and see<02:01:56.149> how<02:01:57.969> how<02:01:58.969> like<02:01:59.719> what<02:01:59.929> decisions<02:02:00.349> I<02:02:00.469> make 02:02:00.939 --> 02:02:00.949 align:start position:0% see how how like what decisions I make 02:02:00.949 --> 02:02:03.129 align:start position:0% see how how like what decisions I make is<02:02:01.039> it<02:02:01.339> moving<02:02:01.549> towards<02:02:02.149> a<02:02:02.209> goal<02:02:02.389> you<02:02:02.719> set<02:02:02.959> up 02:02:03.129 --> 02:02:03.139 align:start position:0% is it moving towards a goal you set up 02:02:03.139 --> 02:02:05.919 align:start position:0% is it moving towards a goal you set up right<02:02:03.409> and<02:02:03.649> then<02:02:04.339> if<02:02:04.789> it<02:02:04.999> does<02:02:05.179> that<02:02:05.659> we<02:02:05.809> can 02:02:05.919 --> 02:02:05.929 align:start position:0% right and then if it does that we can 02:02:05.929 --> 02:02:08.199 align:start position:0% right and then if it does that we can actually<02:02:06.049> have<02:02:06.439> like<02:02:06.799> a<02:02:06.859> clear<02:02:07.429> path<02:02:07.760> how<02:02:08.149> the 02:02:08.199 --> 02:02:08.209 align:start position:0% actually have like a clear path how the 02:02:08.209 --> 02:02:11.019 align:start position:0% actually have like a clear path how the state<02:02:08.659> goes<02:02:08.869> a<02:02:08.899> system<02:02:09.349> or<02:02:09.499> treatment<02:02:09.979> so<02:02:10.669> you 02:02:11.019 --> 02:02:11.029 align:start position:0% state goes a system or treatment so you 02:02:11.029 --> 02:02:13.119 align:start position:0% state goes a system or treatment so you can<02:02:11.149> imagine<02:02:11.329> like<02:02:11.659> what<02:02:11.869> set<02:02:12.109> out<02:02:12.319> where<02:02:12.979> you 02:02:13.119 --> 02:02:13.129 align:start position:0% can imagine like what set out where you 02:02:13.129 --> 02:02:15.009 align:start position:0% can imagine like what set out where you put<02:02:13.369> in<02:02:13.519> some<02:02:13.969> amount<02:02:14.449> of<02:02:14.539> money<02:02:14.749> you<02:02:14.899> could 02:02:15.009 --> 02:02:15.019 align:start position:0% put in some amount of money you could 02:02:15.019 --> 02:02:16.989 align:start position:0% put in some amount of money you could say<02:02:15.199> hey<02:02:15.379> you<02:02:15.439> can<02:02:15.709> manage<02:02:15.979> this<02:02:16.069> down<02:02:16.339> as<02:02:16.939> a 02:02:16.989 --> 02:02:16.999 align:start position:0% say hey you can manage this down as a 02:02:16.999 --> 02:02:19.359 align:start position:0% say hey you can manage this down as a floor<02:02:17.719> making<02:02:18.019> decisions<02:02:18.559> to<02:02:18.679> work<02:02:18.859> towards 02:02:19.359 --> 02:02:19.369 align:start position:0% floor making decisions to work towards 02:02:19.369 --> 02:02:21.609 align:start position:0% floor making decisions to work towards the<02:02:19.489> progress<02:02:19.879> of<02:02:19.999> the<02:02:20.119> goals<02:02:20.359> and<02:02:20.749> set<02:02:20.959> up<02:02:21.109> and 02:02:21.609 --> 02:02:21.619 align:start position:0% the progress of the goals and set up and 02:02:21.619 --> 02:02:23.979 align:start position:0% the progress of the goals and set up and then<02:02:21.799> over<02:02:22.039> time<02:02:22.249> as<02:02:22.519> is<02:02:22.729> now<02:02:22.909> it<02:02:23.569> makes<02:02:23.719> one 02:02:23.979 --> 02:02:23.989 align:start position:0% then over time as is now it makes one 02:02:23.989 --> 02:02:25.659 align:start position:0% then over time as is now it makes one more<02:02:24.139> decision<02:02:24.349> to<02:02:24.589> improve<02:02:24.889> the<02:02:25.039> metrics<02:02:25.429> you 02:02:25.659 --> 02:02:25.669 align:start position:0% more decision to improve the metrics you 02:02:25.669 --> 02:02:28.269 align:start position:0% more decision to improve the metrics you actually<02:02:26.269> can<02:02:26.479> fund<02:02:26.929> one<02:02:27.260> right<02:02:27.619> to<02:02:27.859> the<02:02:27.889> sole 02:02:28.269 --> 02:02:28.279 align:start position:0% actually can fund one right to the sole 02:02:28.279 --> 02:02:31.000 align:start position:0% actually can fund one right to the sole would<02:02:28.459> you<02:02:28.999> not<02:02:29.179> programmable<02:02:29.959> and<02:02:30.409> kind<02:02:30.949> of 02:02:31.000 --> 02:02:31.010 align:start position:0% would you not programmable and kind of 02:02:31.010 --> 02:02:33.879 align:start position:0% would you not programmable and kind of this<02:02:31.129> idea<02:02:31.399> and<02:02:31.969> to<02:02:32.539> just<02:02:32.749> finish<02:02:33.019> up<02:02:33.260> like<02:02:33.679> one 02:02:33.879 --> 02:02:33.889 align:start position:0% this idea and to just finish up like one 02:02:33.889 --> 02:02:35.139 align:start position:0% this idea and to just finish up like one of<02:02:33.979> the<02:02:34.069> things<02:02:34.249> we've<02:02:34.459> been<02:02:34.489> doing<02:02:34.729> we're 02:02:35.139 --> 02:02:35.149 align:start position:0% of the things we've been doing we're 02:02:35.149 --> 02:02:36.969 align:start position:0% of the things we've been doing we're actually<02:02:35.299> trying<02:02:35.749> to<02:02:35.899> bring<02:02:36.589> some<02:02:36.829> of<02:02:36.859> the 02:02:36.969 --> 02:02:36.979 align:start position:0% actually trying to bring some of the 02:02:36.979 --> 02:02:39.609 align:start position:0% actually trying to bring some of the knowledge<02:02:37.159> in<02:02:37.549> this<02:02:37.729> space<02:02:38.119> but<02:02:38.929> it<02:02:39.260> gives<02:02:39.439> its 02:02:39.609 --> 02:02:39.619 align:start position:0% knowledge in this space but it gives its 02:02:39.619 --> 02:02:41.799 align:start position:0% knowledge in this space but it gives its parent<02:02:40.010> is<02:02:40.219> a<02:02:40.549> whiteboard<02:02:40.969> series<02:02:41.239> where<02:02:41.659> we 02:02:41.799 --> 02:02:41.809 align:start position:0% parent is a whiteboard series where we 02:02:41.809 --> 02:02:43.629 align:start position:0% parent is a whiteboard series where we pretty<02:02:42.379> much<02:02:42.439> interviewed<02:02:42.889> one<02:02:43.069> of<02:02:43.099> our<02:02:43.339> homes 02:02:43.629 --> 02:02:43.639 align:start position:0% pretty much interviewed one of our homes 02:02:43.639 --> 02:02:46.089 align:start position:0% pretty much interviewed one of our homes and<02:02:44.179> a<02:02:44.269> lot<02:02:44.389> of<02:02:44.479> projects<02:02:44.959> I<02:02:45.139> think<02:02:45.289> is<02:02:45.649> sitting 02:02:46.089 --> 02:02:46.099 align:start position:0% and a lot of projects I think is sitting 02:02:46.099 --> 02:02:48.909 align:start position:0% and a lot of projects I think is sitting right<02:02:46.219> now<02:02:46.369> in<02:02:46.699> a<02:02:47.059> whiteboard<02:02:47.389> series<02:02:47.629> we<02:02:48.499> want 02:02:48.909 --> 02:02:48.919 align:start position:0% right now in a whiteboard series we want 02:02:48.919 --> 02:02:50.469 align:start position:0% right now in a whiteboard series we want to<02:02:49.039> continue<02:02:49.369> doing<02:02:49.459> this<02:02:49.729> as<02:02:49.999> well<02:02:50.029> as<02:02:50.329> what's 02:02:50.469 --> 02:02:50.479 align:start position:0% to continue doing this as well as what's 02:02:50.479 --> 02:02:52.269 align:start position:0% to continue doing this as well as what's been<02:02:50.629> published<02:02:50.839> on<02:02:51.079> all<02:02:51.229> content<02:02:51.709> around 02:02:52.269 --> 02:02:52.279 align:start position:0% been published on all content around 02:02:52.279 --> 02:02:54.789 align:start position:0% been published on all content around different<02:02:52.609> spaces<02:02:53.209> like<02:02:53.329> comments<02:02:53.779> etc<02:02:53.869> so 02:02:54.789 --> 02:02:54.799 align:start position:0% different spaces like comments etc so 02:02:54.799 --> 02:02:57.459 align:start position:0% different spaces like comments etc so check<02:02:55.039> it<02:02:55.159> out<02:02:55.249> and<02:02:55.609> if<02:02:56.389> you<02:02:56.599> have<02:02:56.629> some<02:02:57.049> ideas 02:02:57.459 --> 02:02:57.469 align:start position:0% check it out and if you have some ideas 02:02:57.469 --> 02:03:06.490 align:start position:0% check it out and if you have some ideas what<02:02:57.799> other<02:02:58.010> content<02:02:58.549> would<02:02:58.639> be 02:03:06.490 --> 02:03:06.500 align:start position:0% 02:03:06.500 --> 02:03:09.680 align:start position:0% right<02:03:07.530> Thank<02:03:08.100> You<02:03:08.160> Millia 02:03:09.680 --> 02:03:09.690 align:start position:0% right Thank You Millia 02:03:09.690 --> 02:03:12.710 align:start position:0% right Thank You Millia Federico<02:03:10.680> is<02:03:11.190> up<02:03:11.580> again<02:03:12.000> to<02:03:12.150> tell<02:03:12.330> us<02:03:12.450> more 02:03:12.710 --> 02:03:12.720 align:start position:0% Federico is up again to tell us more 02:03:12.720 --> 02:03:19.870 align:start position:0% Federico is up again to tell us more about<02:03:12.780> the<02:03:13.080> Larsa<02:03:13.470> governance<02:03:13.830> or<02:03:14.100> Greeks 02:03:19.870 --> 02:03:19.880 align:start position:0% 02:03:19.880 --> 02:03:24.530 align:start position:0% already<02:03:20.880> nice<02:03:21.090> again<02:03:22.970> the<02:03:23.970> suitors<02:03:24.360> hope 02:03:24.530 --> 02:03:24.540 align:start position:0% already nice again the suitors hope 02:03:24.540 --> 02:03:26.210 align:start position:0% already nice again the suitors hope someone<02:03:24.960> interrupted<02:03:25.320> time<02:03:25.530> because<02:03:26.010> Rebecca 02:03:26.210 --> 02:03:26.220 align:start position:0% someone interrupted time because Rebecca 02:03:26.220 --> 02:03:28.940 align:start position:0% someone interrupted time because Rebecca long<02:03:27.060> degree<02:03:27.330> bright<02:03:27.570> sunny<02:03:28.200> Carol 02:03:28.940 --> 02:03:28.950 align:start position:0% long degree bright sunny Carol 02:03:28.950 --> 02:03:32.470 align:start position:0% long degree bright sunny Carol what<02:03:29.220> do<02:03:29.280> you<02:03:29.340> know<02:03:30.050> yeah<02:03:31.050> we're<02:03:31.260> out<02:03:31.290> looking 02:03:32.470 --> 02:03:32.480 align:start position:0% what do you know yeah we're out looking 02:03:32.480 --> 02:03:34.950 align:start position:0% what do you know yeah we're out looking for<02:03:33.480> us<02:03:33.630> or<02:03:33.870> somewhere 02:03:34.950 --> 02:03:34.960 align:start position:0% for us or somewhere 02:03:34.960 --> 02:03:41.070 align:start position:0% for us or somewhere [Music] 02:03:41.070 --> 02:03:41.080 align:start position:0% 02:03:41.080 --> 02:03:46.120 align:start position:0% good<02:03:42.110> so<02:03:43.690> the<02:03:44.690> internal<02:03:45.140> start<02:03:45.500> with<02:03:45.860> the 02:03:46.120 --> 02:03:46.130 align:start position:0% good so the internal start with the 02:03:46.130 --> 02:03:47.950 align:start position:0% good so the internal start with the problem<02:03:46.460> of<02:03:46.520> incomplete<02:03:47.000> contracts<02:03:47.540> and 02:03:47.950 --> 02:03:47.960 align:start position:0% problem of incomplete contracts and 02:03:47.960 --> 02:03:50.380 align:start position:0% problem of incomplete contracts and objects<02:03:48.440> no<02:03:48.620> length<02:03:49.130> talk<02:03:49.340> about<02:03:49.580> wide<02:03:49.940> our 02:03:50.380 --> 02:03:50.390 align:start position:0% objects no length talk about wide our 02:03:50.390 --> 02:03:52.930 align:start position:0% objects no length talk about wide our wealth<02:03:50.870> and<02:03:51.020> right<02:03:51.290> all<02:03:51.730> there<02:03:52.730> are<02:03:52.820> some 02:03:52.930 --> 02:03:52.940 align:start position:0% wealth and right all there are some 02:03:52.940 --> 02:03:54.520 align:start position:0% wealth and right all there are some things<02:03:53.180> that<02:03:53.239> the<02:03:53.420> computers<02:03:53.870> cannot<02:03:54.080> hear<02:03:54.350> is 02:03:54.520 --> 02:03:54.530 align:start position:0% things that the computers cannot hear is 02:03:54.530 --> 02:03:59.860 align:start position:0% things that the computers cannot hear is I<02:03:54.680> mean<02:03:54.860> they're<02:03:55.400> really<02:03:58.090> completed<02:03:59.090> this 02:03:59.860 --> 02:03:59.870 align:start position:0% I mean they're really completed this 02:03:59.870 --> 02:04:02.140 align:start position:0% I mean they're really completed this alone<02:04:00.320> is<02:04:00.469> humans<02:04:00.860> because<02:04:01.670> everything<02:04:02.060> is 02:04:02.140 --> 02:04:02.150 align:start position:0% alone is humans because everything is 02:04:02.150 --> 02:04:05.800 align:start position:0% alone is humans because everything is recorded<02:04:02.960> a<02:04:03.790> lot<02:04:04.790> of<02:04:04.850> trucks<02:04:05.390> and<02:04:05.540> many 02:04:05.800 --> 02:04:05.810 align:start position:0% recorded a lot of trucks and many 02:04:05.810 --> 02:04:08.140 align:start position:0% recorded a lot of trucks and many contracts<02:04:06.260> with<02:04:06.410> regard<02:04:06.949> to<02:04:07.130> need<02:04:07.790> some<02:04:07.940> human 02:04:08.140 --> 02:04:08.150 align:start position:0% contracts with regard to need some human 02:04:08.150 --> 02:04:13.720 align:start position:0% contracts with regard to need some human input<02:04:08.600> or<02:04:09.489> making<02:04:10.489> them<02:04:10.699> unfortunately<02:04:12.730> this 02:04:13.720 --> 02:04:13.730 align:start position:0% input or making them unfortunately this 02:04:13.730 --> 02:04:15.370 align:start position:0% input or making them unfortunately this becomes<02:04:14.060> an<02:04:14.180> important<02:04:14.630> thing<02:04:14.780> if<02:04:14.960> you<02:04:15.110> think 02:04:15.370 --> 02:04:15.380 align:start position:0% becomes an important thing if you think 02:04:15.380 --> 02:04:17.500 align:start position:0% becomes an important thing if you think that<02:04:16.219> three<02:04:16.790> to<02:04:16.850> five<02:04:17.120> percent<02:04:17.239> of 02:04:17.500 --> 02:04:17.510 align:start position:0% that three to five percent of 02:04:17.510 --> 02:04:19.750 align:start position:0% that three to five percent of transaction<02:04:18.199> online<02:04:18.489> dispute<02:04:19.489> right 02:04:19.750 --> 02:04:19.760 align:start position:0% transaction online dispute right 02:04:19.760 --> 02:04:22.200 align:start position:0% transaction online dispute right annually<02:04:20.270> some<02:04:20.480> type<02:04:20.690> of<02:04:20.719> penetration<02:04:21.199> and 02:04:22.200 --> 02:04:22.210 align:start position:0% annually some type of penetration and 02:04:22.210 --> 02:04:29.200 align:start position:0% annually some type of penetration and that's<02:04:24.699> for<02:04:25.699> this<02:04:25.910> type<02:04:26.360> of<02:04:26.390> problems<02:04:27.910> so<02:04:28.910> this 02:04:29.200 --> 02:04:29.210 align:start position:0% that's for this type of problems so this 02:04:29.210 --> 02:04:32.800 align:start position:0% that's for this type of problems so this is<02:04:29.330> imaginary<02:04:31.239> Zimbabwe<02:04:32.239> website 02:04:32.800 --> 02:04:32.810 align:start position:0% is imaginary Zimbabwe website 02:04:32.810 --> 02:04:36.040 align:start position:0% is imaginary Zimbabwe website the<02:04:33.800> pavement<02:04:34.190> and<02:04:34.400> this<02:04:34.550> crow<02:04:34.760> account<02:04:35.120> and 02:04:36.040 --> 02:04:36.050 align:start position:0% the pavement and this crow account and 02:04:36.050 --> 02:04:38.740 align:start position:0% the pavement and this crow account and they<02:04:36.320> both<02:04:36.469> agree<02:04:36.800> that<02:04:37.270> injectors<02:04:38.270> a<02:04:38.300> dispute 02:04:38.740 --> 02:04:38.750 align:start position:0% they both agree that injectors a dispute 02:04:38.750 --> 02:04:41.050 align:start position:0% they both agree that injectors a dispute each<02:04:38.930> one<02:04:39.080> go<02:04:39.260> to<02:04:39.380> Clara<02:04:39.620> this<02:04:40.520> bill<02:04:40.730> amends 02:04:41.050 --> 02:04:41.060 align:start position:0% each one go to Clara this bill amends 02:04:41.060 --> 02:04:43.780 align:start position:0% each one go to Clara this bill amends tell<02:04:41.960> it's<02:04:42.320> a<02:04:42.530> jury<02:04:42.830> of<02:04:43.010> experts<02:04:43.190> and<02:04:43.640> they're 02:04:43.780 --> 02:04:43.790 align:start position:0% tell it's a jury of experts and they're 02:04:43.790 --> 02:04:48.160 align:start position:0% tell it's a jury of experts and they're going<02:04:43.940> to<02:04:44.120> see<02:04:44.810> the<02:04:44.930> evidence<02:04:45.290> and<02:04:46.150> inform<02:04:47.170> on 02:04:48.160 --> 02:04:48.170 align:start position:0% going to see the evidence and inform on 02:04:48.170 --> 02:04:50.650 align:start position:0% going to see the evidence and inform on who<02:04:48.469> is<02:04:48.560> right<02:04:48.770> and<02:04:49.070> then<02:04:49.760> this<02:04:50.000> Esther<02:04:50.449> is 02:04:50.650 --> 02:04:50.660 align:start position:0% who is right and then this Esther is 02:04:50.660 --> 02:04:53.350 align:start position:0% who is right and then this Esther is broken<02:04:51.080> up<02:04:51.290> you<02:04:51.469> pay<02:04:51.739> is<02:04:52.670> because<02:04:53.120> you<02:04:53.270> were 02:04:53.350 --> 02:04:53.360 align:start position:0% broken up you pay is because you were 02:04:53.360 --> 02:04:54.040 align:start position:0% broken up you pay is because you were right<02:04:53.540> okay 02:04:54.040 --> 02:04:54.050 align:start position:0% right okay 02:04:54.050 --> 02:04:59.110 align:start position:0% right okay understood<02:04:54.800> for<02:04:55.160> now<02:04:57.130> so<02:04:58.130> how<02:04:58.430> do<02:04:58.850> you<02:04:58.940> select 02:04:59.110 --> 02:04:59.120 align:start position:0% understood for now so how do you select 02:04:59.120 --> 02:05:01.540 align:start position:0% understood for now so how do you select yours<02:04:59.510> and<02:05:00.290> that's<02:05:00.440> the<02:05:00.620> question<02:05:01.100> now<02:05:01.219> and 02:05:01.540 --> 02:05:01.550 align:start position:0% yours and that's the question now and 02:05:01.550 --> 02:05:04.540 align:start position:0% yours and that's the question now and then<02:05:02.390> about<02:05:03.110> how<02:05:03.650> it<02:05:03.770> used<02:05:03.980> to<02:05:04.070> work<02:05:04.130> for 02:05:04.540 --> 02:05:04.550 align:start position:0% then about how it used to work for 02:05:04.550 --> 02:05:07.450 align:start position:0% then about how it used to work for Greece<02:05:05.390> and<02:05:05.739> they<02:05:06.739> had<02:05:06.920> this<02:05:07.010> concept<02:05:07.400> of 02:05:07.450 --> 02:05:07.460 align:start position:0% Greece and they had this concept of 02:05:07.460 --> 02:05:11.020 align:start position:0% Greece and they had this concept of coming<02:05:08.030> up<02:05:08.150> trials<02:05:08.540> very<02:05:09.460> sing<02:05:10.460> sing<02:05:10.670> will<02:05:10.850> go 02:05:11.020 --> 02:05:11.030 align:start position:0% coming up trials very sing sing will go 02:05:11.030 --> 02:05:14.650 align:start position:0% coming up trials very sing sing will go together<02:05:11.570> in<02:05:12.110> a<02:05:12.170> trial<02:05:12.440> but<02:05:13.310> first<02:05:13.730> there<02:05:14.600> was 02:05:14.650 --> 02:05:14.660 align:start position:0% together in a trial but first there was 02:05:14.660 --> 02:05:16.810 align:start position:0% together in a trial but first there was a<02:05:14.719> very<02:05:15.080> special<02:05:15.890> mechanism<02:05:16.340> so<02:05:16.430> you<02:05:16.460> wouldn't 02:05:16.810 --> 02:05:16.820 align:start position:0% a very special mechanism so you wouldn't 02:05:16.820 --> 02:05:18.880 align:start position:0% a very special mechanism so you wouldn't go<02:05:17.120> to<02:05:17.180> trial<02:05:17.480> you<02:05:17.690> friends<02:05:18.110> to<02:05:18.290> develop<02:05:18.739> them 02:05:18.880 --> 02:05:18.890 align:start position:0% go to trial you friends to develop them 02:05:18.890 --> 02:05:21.670 align:start position:0% go to trial you friends to develop them right<02:05:19.100> so<02:05:19.989> there<02:05:20.989> was<02:05:21.110> a<02:05:21.140> random<02:05:21.440> selection 02:05:21.670 --> 02:05:21.680 align:start position:0% right so there was a random selection 02:05:21.680 --> 02:05:25.840 align:start position:0% right so there was a random selection for<02:05:22.610> of<02:05:22.760> tours<02:05:23.980> so<02:05:24.980> the<02:05:25.160> first<02:05:25.400> word<02:05:25.580> to<02:05:25.790> the 02:05:25.840 --> 02:05:25.850 align:start position:0% for of tours so the first word to the 02:05:25.850 --> 02:05:29.470 align:start position:0% for of tours so the first word to the court<02:05:26.120> and<02:05:26.330> they<02:05:26.739> protect<02:05:27.739> you<02:05:27.890> and<02:05:28.210> to<02:05:29.210> be 02:05:29.470 --> 02:05:29.480 align:start position:0% court and they protect you and to be 02:05:29.480 --> 02:05:33.189 align:start position:0% court and they protect you and to be rude<02:05:29.750> or<02:05:29.870> not<02:05:30.190> and<02:05:31.190> then<02:05:31.660> after<02:05:32.660> you<02:05:32.780> selected 02:05:33.189 --> 02:05:33.199 align:start position:0% rude or not and then after you selected 02:05:33.199 --> 02:05:36.790 align:start position:0% rude or not and then after you selected and<02:05:33.920> decided<02:05:34.790> again<02:05:35.060> by<02:05:35.210> blood<02:05:35.600> work 02:05:36.790 --> 02:05:36.800 align:start position:0% and decided again by blood work 02:05:36.800 --> 02:05:38.950 align:start position:0% and decided again by blood work going<02:05:37.100> to<02:05:37.190> sit<02:05:37.400> in<02:05:37.700> which<02:05:37.820> port<02:05:38.090> right<02:05:38.330> there's 02:05:38.950 --> 02:05:38.960 align:start position:0% going to sit in which port right there's 02:05:38.960 --> 02:05:51.930 align:start position:0% going to sit in which port right there's a<02:05:39.050> done<02:05:39.590> selection<02:05:40.040> you<02:05:41.030> know<02:05:41.180> what<02:05:41.330> they<02:05:41.450> used 02:05:51.930 --> 02:05:51.940 align:start position:0% 02:05:51.940 --> 02:05:54.670 align:start position:0% so<02:05:52.940> this<02:05:53.090> woman<02:05:53.240> who<02:05:53.630> wants<02:05:53.900> to<02:05:53.930> be<02:05:53.990> a<02:05:54.110> jury<02:05:54.350> in 02:05:54.670 --> 02:05:54.680 align:start position:0% so this woman who wants to be a jury in 02:05:54.680 --> 02:05:59.560 align:start position:0% so this woman who wants to be a jury in this<02:05:55.400> beauty<02:05:55.880> signer<02:05:56.560> so<02:05:57.560> she<02:05:57.620> gets<02:05:57.860> to<02:05:58.570> fight 02:05:59.560 --> 02:05:59.570 align:start position:0% this beauty signer so she gets to fight 02:05:59.570 --> 02:06:03.130 align:start position:0% this beauty signer so she gets to fight as<02:05:59.750> tokens<02:06:00.350> and<02:06:00.770> deposit<02:06:01.670> this<02:06:01.790> token<02:06:02.210> what<02:06:02.720> is 02:06:03.130 --> 02:06:03.140 align:start position:0% as tokens and deposit this token what is 02:06:03.140 --> 02:06:07.660 align:start position:0% as tokens and deposit this token what is token<02:06:04.510> universe<02:06:05.510> one<02:06:05.750> select<02:06:06.650> money<02:06:06.980> very 02:06:07.660 --> 02:06:07.670 align:start position:0% token universe one select money very 02:06:07.670 --> 02:06:10.330 align:start position:0% token universe one select money very well-attended<02:06:08.000> aspirin<02:06:08.900> well<02:06:09.170> done<02:06:09.380> so 02:06:10.330 --> 02:06:10.340 align:start position:0% well-attended aspirin well done so 02:06:10.340 --> 02:06:12.640 align:start position:0% well-attended aspirin well done so Curtis<02:06:10.730> has<02:06:10.940> many<02:06:11.150> courts<02:06:11.510> and<02:06:11.720> see<02:06:12.260> deposit 02:06:12.640 --> 02:06:12.650 align:start position:0% Curtis has many courts and see deposit 02:06:12.650 --> 02:06:14.770 align:start position:0% Curtis has many courts and see deposit system<02:06:12.830> and<02:06:13.160> they<02:06:13.370> spoken<02:06:13.610> like<02:06:14.240> a<02:06:14.270> quirk<02:06:14.660> of 02:06:14.770 --> 02:06:14.780 align:start position:0% system and they spoken like a quirk of 02:06:14.780 --> 02:06:21.190 align:start position:0% system and they spoken like a quirk of websites<02:06:15.440> dispute<02:06:16.190> and<02:06:16.970> so<02:06:19.540> is<02:06:20.540> taking<02:06:20.960> the 02:06:21.190 --> 02:06:21.200 align:start position:0% websites dispute and so is taking the 02:06:21.200 --> 02:06:25.360 align:start position:0% websites dispute and so is taking the son<02:06:21.520> of<02:06:22.520> how<02:06:23.510> it<02:06:23.630> works<02:06:23.920> so<02:06:24.920> this<02:06:25.100> is<02:06:25.220> talking 02:06:25.360 --> 02:06:25.370 align:start position:0% son of how it works so this is talking 02:06:25.370 --> 02:06:27.520 align:start position:0% son of how it works so this is talking Thomas<02:06:26.030> theis<02:06:26.210> take<02:06:26.540> into<02:06:27.020> the<02:06:27.110> court<02:06:27.350> and 02:06:27.520 --> 02:06:27.530 align:start position:0% Thomas theis take into the court and 02:06:27.530 --> 02:06:30.880 align:start position:0% Thomas theis take into the court and many<02:06:28.400> people<02:06:28.730> take<02:06:29.000> the<02:06:29.030> token<02:06:29.450> and<02:06:29.890> the 02:06:30.880 --> 02:06:30.890 align:start position:0% many people take the token and the 02:06:30.890 --> 02:06:32.170 align:start position:0% many people take the token and the doctor<02:06:31.130> gives<02:06:31.310> you<02:06:31.340> the<02:06:31.490> chat<02:06:31.730> with<02:06:31.970> drawn 02:06:32.170 --> 02:06:32.180 align:start position:0% doctor gives you the chat with drawn 02:06:32.180 --> 02:06:35.230 align:start position:0% doctor gives you the chat with drawn randomly<02:06:32.390> in<02:06:32.750> sewer<02:06:32.990> and<02:06:33.800> some<02:06:34.400> of<02:06:34.460> them<02:06:34.670> are 02:06:35.230 --> 02:06:35.240 align:start position:0% randomly in sewer and some of them are 02:06:35.240 --> 02:06:37.600 align:start position:0% randomly in sewer and some of them are going<02:06:35.480> to<02:06:35.540> be<02:06:35.660> selected<02:06:36.080> randomly<02:06:36.460> and<02:06:37.460> these 02:06:37.600 --> 02:06:37.610 align:start position:0% going to be selected randomly and these 02:06:37.610 --> 02:06:39.400 align:start position:0% going to be selected randomly and these guys<02:06:37.790> are<02:06:37.970> going<02:06:38.090> to<02:06:38.300> be<02:06:38.720> the<02:06:38.780> traversal<02:06:39.140> is 02:06:39.400 --> 02:06:39.410 align:start position:0% guys are going to be the traversal is 02:06:39.410 --> 02:06:42.970 align:start position:0% guys are going to be the traversal is okay<02:06:40.330> and<02:06:41.330> the<02:06:41.480> token<02:06:41.810> stays<02:06:42.020> long<02:06:42.260> until<02:06:42.620> a 02:06:42.970 --> 02:06:42.980 align:start position:0% okay and the token stays long until a 02:06:42.980 --> 02:06:47.470 align:start position:0% okay and the token stays long until a decision<02:06:43.520> is<02:06:43.820> done<02:06:45.370> so<02:06:46.370> how<02:06:46.760> do<02:06:46.820> we<02:06:47.000> say<02:06:47.150> device 02:06:47.470 --> 02:06:47.480 align:start position:0% decision is done so how do we say device 02:06:47.480 --> 02:06:49.990 align:start position:0% decision is done so how do we say device people<02:06:48.200> to<02:06:48.470> do<02:06:48.560> as<02:06:49.130> both<02:06:49.370> of<02:06:49.550> the<02:06:49.730> you<02:06:49.820> make 02:06:49.990 --> 02:06:50.000 align:start position:0% people to do as both of the you make 02:06:50.000 --> 02:06:51.400 align:start position:0% people to do as both of the you make sure<02:06:50.120> that<02:06:50.150> we<02:06:50.420> know<02:06:50.510> how<02:06:50.690> to<02:06:50.720> do<02:06:51.050> know<02:06:51.170> in<02:06:51.320> the 02:06:51.400 --> 02:06:51.410 align:start position:0% sure that we know how to do know in the 02:06:51.410 --> 02:06:54.700 align:start position:0% sure that we know how to do know in the grant<02:06:51.680> randomly<02:06:52.250> aibee<02:06:53.240> aibee<02:06:53.620> just<02:06:54.620> to 02:06:54.700 --> 02:06:54.710 align:start position:0% grant randomly aibee aibee just to 02:06:54.710 --> 02:06:58.820 align:start position:0% grant randomly aibee aibee just to collect<02:06:54.980> money<02:06:55.660> for<02:06:56.660> this<02:06:56.840> we<02:06:57.050> use 02:06:58.820 --> 02:06:58.830 align:start position:0% collect money for this we use 02:06:58.830 --> 02:07:03.440 align:start position:0% collect money for this we use you're<02:06:59.830> a<02:06:59.860> nice<02:07:00.580> guy 02:07:03.440 --> 02:07:03.450 align:start position:0% 02:07:03.450 --> 02:07:08.030 align:start position:0% come<02:07:04.450> on<02:07:04.570> this<02:07:04.690> is<02:07:04.780> a<02:07:04.870> blockchain<02:07:05.350> conference 02:07:08.030 --> 02:07:08.040 align:start position:0% 02:07:08.040 --> 02:07:11.430 align:start position:0% so<02:07:09.040> totally<02:07:09.490> the<02:07:10.270> lyrics<02:07:10.780> of<02:07:10.930> the<02:07:11.020> fifties<02:07:11.410> and 02:07:11.430 --> 02:07:11.440 align:start position:0% so totally the lyrics of the fifties and 02:07:11.440 --> 02:07:13.530 align:start position:0% so totally the lyrics of the fifties and sixties<02:07:11.710> and<02:07:12.280> he<02:07:12.550> developed<02:07:12.940> this<02:07:12.970> concept<02:07:13.210> of 02:07:13.530 --> 02:07:13.540 align:start position:0% sixties and he developed this concept of 02:07:13.540 --> 02:07:15.870 align:start position:0% sixties and he developed this concept of focal<02:07:13.900> point<02:07:14.160> this<02:07:15.160> is<02:07:15.250> a<02:07:15.340> public<02:07:15.760> record 02:07:15.870 --> 02:07:15.880 align:start position:0% focal point this is a public record 02:07:15.880 --> 02:07:20.820 align:start position:0% focal point this is a public record innate<02:07:16.390> when<02:07:16.780> there<02:07:16.930> is<02:07:17.020> uncertainty<02:07:19.830> when 02:07:20.820 --> 02:07:20.830 align:start position:0% innate when there is uncertainty when 02:07:20.830 --> 02:07:21.540 align:start position:0% innate when there is uncertainty when they<02:07:20.890> have<02:07:21.010> to<02:07:21.100> make<02:07:21.190> a<02:07:21.250> decision 02:07:21.540 --> 02:07:21.550 align:start position:0% they have to make a decision 02:07:21.550 --> 02:07:25.500 align:start position:0% they have to make a decision independently<02:07:22.680> right<02:07:23.680> so<02:07:24.190> each<02:07:25.150> of<02:07:25.300> you 02:07:25.500 --> 02:07:25.510 align:start position:0% independently right so each of you 02:07:25.510 --> 02:07:27.300 align:start position:0% independently right so each of you choose<02:07:26.350> one<02:07:26.470> number<02:07:26.620> and<02:07:26.920> if<02:07:27.010> you<02:07:27.130> choose<02:07:27.250> to 02:07:27.300 --> 02:07:27.310 align:start position:0% choose one number and if you choose to 02:07:27.310 --> 02:07:29.790 align:start position:0% choose one number and if you choose to say<02:07:27.460> that<02:07:27.610> the<02:07:27.700> majority<02:07:28.200> to<02:07:29.200> get<02:07:29.320> twenty 02:07:29.790 --> 02:07:29.800 align:start position:0% say that the majority to get twenty 02:07:29.800 --> 02:07:33.560 align:start position:0% say that the majority to get twenty dollars<02:07:30.240> which<02:07:31.240> one<02:07:31.390> do<02:07:31.480> you<02:07:31.510> choose 02:07:33.560 --> 02:07:33.570 align:start position:0% dollars which one do you choose 02:07:33.570 --> 02:07:35.040 align:start position:0% dollars which one do you choose very<02:07:34.570> well 02:07:35.040 --> 02:07:35.050 align:start position:0% very well 02:07:35.050 --> 02:07:37.890 align:start position:0% very well so<02:07:35.770> that's<02:07:36.010> the<02:07:36.160> simple<02:07:36.490> one<02:07:36.640> the<02:07:37.270> number 02:07:37.890 --> 02:07:37.900 align:start position:0% so that's the simple one the number 02:07:37.900 --> 02:07:41.430 align:start position:0% so that's the simple one the number would<02:07:38.410> be<02:07:38.470> like<02:07:38.830> money<02:07:39.520> to<02:07:40.000> choose<02:07:40.390> but<02:07:40.840> we 02:07:41.430 --> 02:07:41.440 align:start position:0% would be like money to choose but we 02:07:41.440 --> 02:07:43.620 align:start position:0% would be like money to choose but we expect<02:07:42.040> other<02:07:42.250> to<02:07:42.430> choose<02:07:42.640> 1,000<02:07:43.240> so<02:07:43.330> we<02:07:43.450> chose 02:07:43.620 --> 02:07:43.630 align:start position:0% expect other to choose 1,000 so we chose 02:07:43.630 --> 02:07:45.120 align:start position:0% expect other to choose 1,000 so we chose that<02:07:43.780> one<02:07:44.050> and<02:07:44.230> so<02:07:44.350> this<02:07:44.470> generates<02:07:44.920> and 02:07:45.120 --> 02:07:45.130 align:start position:0% that one and so this generates and 02:07:45.130 --> 02:07:49.380 align:start position:0% that one and so this generates and coordinating<02:07:45.820> mechanism<02:07:46.170> it's<02:07:47.170> not<02:07:47.380> done<02:07:48.390> so 02:07:49.380 --> 02:07:49.390 align:start position:0% coordinating mechanism it's not done so 02:07:49.390 --> 02:07:51.570 align:start position:0% coordinating mechanism it's not done so if<02:07:50.080> different<02:07:50.440> tourists<02:07:50.770> got<02:07:50.920> independently 02:07:51.570 --> 02:07:51.580 align:start position:0% if different tourists got independently 02:07:51.580 --> 02:07:54.480 align:start position:0% if different tourists got independently on<02:07:52.030> the<02:07:52.780> same<02:07:52.960> dispute<02:07:53.350> knowing<02:07:54.310> that<02:07:54.400> they 02:07:54.480 --> 02:07:54.490 align:start position:0% on the same dispute knowing that they 02:07:54.490 --> 02:07:57.000 align:start position:0% on the same dispute knowing that they have<02:07:54.670> to<02:07:54.790> know<02:07:54.820> that<02:07:54.940> the<02:07:55.240> majority<02:07:55.710> then<02:07:56.710> this 02:07:57.000 --> 02:07:57.010 align:start position:0% have to know that the majority then this 02:07:57.010 --> 02:07:59.640 align:start position:0% have to know that the majority then this creates<02:07:57.310> an<02:07:57.520> incentive<02:07:57.670> in<02:07:58.060> them<02:07:58.780> to<02:07:59.110> vote<02:07:59.410> on 02:07:59.640 --> 02:07:59.650 align:start position:0% creates an incentive in them to vote on 02:07:59.650 --> 02:08:04.470 align:start position:0% creates an incentive in them to vote on the<02:07:59.770> truth<02:08:00.070> about<02:08:00.370> the<02:08:00.850> dispute<02:08:01.090> good<02:08:03.480> these 02:08:04.470 --> 02:08:04.480 align:start position:0% the truth about the dispute good these 02:08:04.480 --> 02:08:07.830 align:start position:0% the truth about the dispute good these are<02:08:04.800> some<02:08:05.800> interfaces<02:08:06.520> about<02:08:06.760> how<02:08:06.910> works<02:08:07.660> and 02:08:07.830 --> 02:08:07.840 align:start position:0% are some interfaces about how works and 02:08:07.840 --> 02:08:10.410 align:start position:0% are some interfaces about how works and there's<02:08:08.830> jurors<02:08:09.280> world<02:08:09.640> with<02:08:09.880> the<02:08:09.970> majority 02:08:10.410 --> 02:08:10.420 align:start position:0% there's jurors world with the majority 02:08:10.420 --> 02:08:13.500 align:start position:0% there's jurors world with the majority they<02:08:10.960> get<02:08:11.110> it<02:08:11.260> okay<02:08:11.530> bad<02:08:11.710> and<02:08:12.240> arbitration<02:08:13.240> see 02:08:13.500 --> 02:08:13.510 align:start position:0% they get it okay bad and arbitration see 02:08:13.510 --> 02:08:15.570 align:start position:0% they get it okay bad and arbitration see and<02:08:13.720> the<02:08:13.840> jurors<02:08:14.230> are<02:08:14.380> both<02:08:14.560> different<02:08:14.860> they 02:08:15.570 --> 02:08:15.580 align:start position:0% and the jurors are both different they 02:08:15.580 --> 02:08:19.619 align:start position:0% and the jurors are both different they lose<02:08:15.850> the<02:08:16.000> trophy<02:08:16.120> the<02:08:16.360> worst<02:08:16.540> possible 02:08:19.619 --> 02:08:19.629 align:start position:0% 02:08:19.629 --> 02:08:22.349 align:start position:0% so<02:08:20.199> this<02:08:20.349> creates<02:08:20.679> basically<02:08:21.359> situational 02:08:22.349 --> 02:08:22.359 align:start position:0% so this creates basically situational 02:08:22.359 --> 02:08:25.109 align:start position:0% so this creates basically situational work<02:08:22.979> users<02:08:23.979> who<02:08:24.129> try<02:08:24.309> to<02:08:24.340> abuse<02:08:24.550> a<02:08:24.820> systemic 02:08:25.109 --> 02:08:25.119 align:start position:0% work users who try to abuse a systemic 02:08:25.119 --> 02:08:27.449 align:start position:0% work users who try to abuse a systemic reporting<02:08:25.959> randomly<02:08:26.349> they<02:08:26.709> will<02:08:27.159> lose<02:08:27.340> the 02:08:27.449 --> 02:08:27.459 align:start position:0% reporting randomly they will lose the 02:08:27.459 --> 02:08:30.419 align:start position:0% reporting randomly they will lose the token<02:08:27.820> it<02:08:28.479> was<02:08:28.659> mid-morning<02:08:29.079> or<02:08:29.949> average<02:08:30.399> a 02:08:30.419 --> 02:08:30.429 align:start position:0% token it was mid-morning or average a 02:08:30.429 --> 02:08:33.599 align:start position:0% token it was mid-morning or average a statistically<02:08:31.179> more<02:08:31.329> cases<02:08:31.599> and<02:08:31.959> users<02:08:32.919> who 02:08:33.599 --> 02:08:33.609 align:start position:0% statistically more cases and users who 02:08:33.609 --> 02:08:35.969 align:start position:0% statistically more cases and users who make<02:08:34.419> the<02:08:34.599> one<02:08:34.959> sort<02:08:35.229> of<02:08:35.320> analyzing<02:08:35.889> the 02:08:35.969 --> 02:08:35.979 align:start position:0% make the one sort of analyzing the 02:08:35.979 --> 02:08:38.069 align:start position:0% make the one sort of analyzing the evidence<02:08:36.099> important<02:08:36.760> correctly<02:08:37.179> they<02:08:37.929> will 02:08:38.069 --> 02:08:38.079 align:start position:0% evidence important correctly they will 02:08:38.079 --> 02:08:42.569 align:start position:0% evidence important correctly they will make<02:08:38.320> money<02:08:40.619> so<02:08:41.619> the<02:08:41.739> vision<02:08:41.889> is<02:08:42.070> create 02:08:42.569 --> 02:08:42.579 align:start position:0% make money so the vision is create 02:08:42.579 --> 02:08:44.699 align:start position:0% make money so the vision is create justice<02:08:43.209> system<02:08:43.570> can<02:08:44.050> solve<02:08:44.379> all<02:08:44.590> the 02:08:44.699 --> 02:08:44.709 align:start position:0% justice system can solve all the 02:08:44.709 --> 02:08:47.699 align:start position:0% justice system can solve all the disputes<02:08:45.039> of<02:08:45.129> all<02:08:45.340> the<02:08:45.429> dolls<02:08:45.639> that<02:08:45.969> are<02:08:46.709> being 02:08:47.699 --> 02:08:47.709 align:start position:0% disputes of all the dolls that are being 02:08:47.709 --> 02:08:51.469 align:start position:0% disputes of all the dolls that are being created<02:08:48.070> and<02:08:48.639> curves<02:08:49.300> has<02:08:49.719> a<02:08:50.019> cool<02:08:50.559> side<02:08:50.859> and 02:08:51.469 --> 02:08:51.479 align:start position:0% created and curves has a cool side and 02:08:51.479 --> 02:08:53.790 align:start position:0% created and curves has a cool side and another<02:08:52.479> top<02:08:52.809> side<02:08:53.079> are<02:08:53.260> always<02:08:53.559> like<02:08:53.649> this 02:08:53.790 --> 02:08:53.800 align:start position:0% another top side are always like this 02:08:53.800 --> 02:08:56.250 align:start position:0% another top side are always like this were<02:08:54.010> you<02:08:54.579> have<02:08:54.729> like<02:08:54.909> dubs<02:08:55.179> but<02:08:55.959> have 02:08:56.250 --> 02:08:56.260 align:start position:0% were you have like dubs but have 02:08:56.260 --> 02:08:58.790 align:start position:0% were you have like dubs but have disputes<02:08:56.649> and<02:08:56.800> they<02:08:56.949> send<02:08:57.340> those<02:08:57.519> arrows 02:08:58.790 --> 02:08:58.800 align:start position:0% disputes and they send those arrows 02:08:58.800 --> 02:09:00.929 align:start position:0% disputes and they send those arrows intellisense<02:08:59.800> not<02:09:00.189> the<02:09:00.340> decision<02:09:00.729> about 02:09:00.929 --> 02:09:00.939 align:start position:0% intellisense not the decision about 02:09:00.939 --> 02:09:04.770 align:start position:0% intellisense not the decision about those<02:09:01.209> visits<02:09:01.599> right<02:09:03.209> this<02:09:04.209> can<02:09:04.389> be<02:09:04.479> used<02:09:04.689> for 02:09:04.770 --> 02:09:04.780 align:start position:0% those visits right this can be used for 02:09:04.780 --> 02:09:07.770 align:start position:0% those visits right this can be used for escrow<02:09:05.169> transactions<02:09:06.239> this<02:09:07.239> is<02:09:07.359> an<02:09:07.449> interface 02:09:07.770 --> 02:09:07.780 align:start position:0% escrow transactions this is an interface 02:09:07.780 --> 02:09:10.949 align:start position:0% escrow transactions this is an interface with<02:09:08.079> for<02:09:08.439> you<02:09:08.800> can't<02:09:09.010> wait<02:09:09.219> an<02:09:09.340> escrow<02:09:09.959> 200 02:09:10.949 --> 02:09:10.959 align:start position:0% with for you can't wait an escrow 200 02:09:10.959 --> 02:09:13.699 align:start position:0% with for you can't wait an escrow 200 that<02:09:11.079> is<02:09:11.139> going<02:09:11.379> to<02:09:11.499> be<02:09:11.649> for<02:09:12.550> like<02:09:12.699> girls<02:09:13.030> you 02:09:13.699 --> 02:09:13.709 align:start position:0% that is going to be for like girls you 02:09:13.709 --> 02:09:16.109 align:start position:0% that is going to be for like girls you can<02:09:14.709> use<02:09:14.889> this<02:09:15.039> now<02:09:15.280> you<02:09:15.340> should<02:09:15.669> prepare<02:09:15.820> a 02:09:16.109 --> 02:09:16.119 align:start position:0% can use this now you should prepare a 02:09:16.119 --> 02:09:19.649 align:start position:0% can use this now you should prepare a contractor<02:09:16.599> for<02:09:16.719> example<02:09:17.369> then<02:09:18.659> token 02:09:19.649 --> 02:09:19.659 align:start position:0% contractor for example then token 02:09:19.659 --> 02:09:24.839 align:start position:0% contractor for example then token released<02:09:20.249> this<02:09:21.249> is<02:09:21.459> a<02:09:23.159> people<02:09:24.159> that<02:09:24.280> same 02:09:24.839 --> 02:09:24.849 align:start position:0% released this is a people that same 02:09:24.849 --> 02:09:26.849 align:start position:0% released this is a people that same token<02:09:25.030> at<02:09:25.329> least<02:09:25.510> and<02:09:25.719> other<02:09:25.869> can<02:09:26.619> challenge 02:09:26.849 --> 02:09:26.859 align:start position:0% token at least and other can challenge 02:09:26.859 --> 02:09:28.520 align:start position:0% token at least and other can challenge them<02:09:27.070> if<02:09:27.189> you<02:09:27.249> don't<02:09:27.340> comply<02:09:27.609> with<02:09:27.789> rules<02:09:27.999> and 02:09:28.520 --> 02:09:28.530 align:start position:0% them if you don't comply with rules and 02:09:28.530 --> 02:09:31.319 align:start position:0% them if you don't comply with rules and there<02:09:29.530> are<02:09:29.559> rules<02:09:29.679> for<02:09:30.189> these<02:09:30.550> is<02:09:31.149> really 02:09:31.319 --> 02:09:31.329 align:start position:0% there are rules for these is really 02:09:31.329 --> 02:09:37.129 align:start position:0% there are rules for these is really smooth<02:09:32.429> and<02:09:35.070> we<02:09:36.070> should<02:09:36.219> not<02:09:36.340> kind<02:09:36.639> of 02:09:37.129 --> 02:09:37.139 align:start position:0% smooth and we should not kind of 02:09:37.139 --> 02:09:39.569 align:start position:0% smooth and we should not kind of application<02:09:38.139> of<02:09:38.260> these<02:09:38.409> to<02:09:39.280> create<02:09:39.429> a 02:09:39.569 --> 02:09:39.579 align:start position:0% application of these to create a 02:09:39.579 --> 02:09:40.739 align:start position:0% application of these to create a humanities 02:09:40.739 --> 02:09:40.749 align:start position:0% humanities 02:09:40.749 --> 02:09:43.589 align:start position:0% humanities how<02:09:41.439> do<02:09:41.499> you<02:09:41.679> make<02:09:41.859> sure<02:09:41.889> that<02:09:42.070> people<02:09:42.669> are<02:09:43.119> not 02:09:43.589 --> 02:09:43.599 align:start position:0% how do you make sure that people are not 02:09:43.599 --> 02:09:45.750 align:start position:0% how do you make sure that people are not on<02:09:43.869> the<02:09:43.989> internet<02:09:44.349> so<02:09:45.070> this<02:09:45.219> approach<02:09:45.489> if 02:09:45.750 --> 02:09:45.760 align:start position:0% on the internet so this approach if 02:09:45.760 --> 02:09:48.469 align:start position:0% on the internet so this approach if you're<02:09:45.939> interested<02:09:46.479> used<02:09:46.869> squares<02:09:47.229> for 02:09:48.469 --> 02:09:48.479 align:start position:0% you're interested used squares for 02:09:48.479 --> 02:09:50.909 align:start position:0% you're interested used squares for detecting<02:09:49.479> making<02:09:49.809> this<02:09:49.929> list<02:09:50.169> and<02:09:50.379> it's<02:09:50.619> use 02:09:50.909 --> 02:09:50.919 align:start position:0% detecting making this list and it's use 02:09:50.919 --> 02:09:54.149 align:start position:0% detecting making this list and it's use them<02:09:52.109> to<02:09:53.109> that<02:09:53.260> tonight<02:09:53.530> at<02:09:53.679> what<02:09:53.829> time<02:09:53.979> is 02:09:54.149 --> 02:09:54.159 align:start position:0% them to that tonight at what time is 02:09:54.159 --> 02:09:56.580 align:start position:0% them to that tonight at what time is short<02:09:54.429> we<02:09:54.849> have<02:09:54.969> the<02:09:55.119> little<02:09:55.469> for<02:09:56.469> the 02:09:56.580 --> 02:09:56.590 align:start position:0% short we have the little for the 02:09:56.590 --> 02:09:59.580 align:start position:0% short we have the little for the humanity<02:09:57.899> system<02:09:58.899> if<02:09:59.019> you<02:09:59.139> want<02:09:59.289> to<02:09:59.349> come<02:09:59.499> to 02:09:59.580 --> 02:09:59.590 align:start position:0% humanity system if you want to come to 02:09:59.590 --> 02:10:01.979 align:start position:0% humanity system if you want to come to the<02:09:59.649> fellows<02:09:59.889> house<02:10:00.419> many<02:10:01.419> person<02:10:01.780> going<02:10:01.929> to 02:10:01.979 --> 02:10:01.989 align:start position:0% the fellows house many person going to 02:10:01.989 --> 02:10:05.989 align:start position:0% the fellows house many person going to be<02:10:02.139> there<02:10:02.289> to<02:10:02.469> collaborate<02:10:03.010> in<02:10:03.189> meeting<02:10:03.519> this 02:10:05.989 --> 02:10:05.999 align:start position:0% 02:10:05.999 --> 02:10:10.109 align:start position:0% italic<02:10:08.070> this<02:10:09.070> is<02:10:09.219> creating<02:10:09.760> something<02:10:09.999> that 02:10:10.109 --> 02:10:10.119 align:start position:0% italic this is creating something that 02:10:10.119 --> 02:10:12.730 align:start position:0% italic this is creating something that we<02:10:10.300> very<02:10:10.389> suggested<02:10:11.159> into<02:10:12.159> the 02:10:12.730 --> 02:10:12.740 align:start position:0% we very suggested into the 02:10:12.740 --> 02:10:15.850 align:start position:0% we very suggested into the stockin<02:10:13.100> is<02:10:13.310> periodically<02:10:13.850> they<02:10:14.450> are<02:10:15.440> use<02:10:15.680> of 02:10:15.850 --> 02:10:15.860 align:start position:0% stockin is periodically they are use of 02:10:15.860 --> 02:10:18.190 align:start position:0% stockin is periodically they are use of Parros<02:10:16.280> to<02:10:17.060> create<02:10:17.360> at<02:10:17.510> least<02:10:17.540> a<02:10:17.810> few<02:10:17.990> months 02:10:18.190 --> 02:10:18.200 align:start position:0% Parros to create at least a few months 02:10:18.200 --> 02:10:20.320 align:start position:0% Parros to create at least a few months the<02:10:18.380> internet<02:10:18.770> so<02:10:19.040> this<02:10:19.400> is<02:10:19.550> you<02:10:19.670> need<02:10:19.790> to<02:10:20.060> come 02:10:20.320 --> 02:10:20.330 align:start position:0% the internet so this is you need to come 02:10:20.330 --> 02:10:22.390 align:start position:0% the internet so this is you need to come to<02:10:20.480> this<02:10:20.600> place<02:10:20.810> in<02:10:20.990> go<02:10:21.890> to<02:10:21.920> collaborate 02:10:22.390 --> 02:10:22.400 align:start position:0% to this place in go to collaborate 02:10:22.400 --> 02:10:25.330 align:start position:0% to this place in go to collaborate tonight<02:10:23.090> at<02:10:23.360> 6:30<02:10:23.720> at<02:10:24.620> fill<02:10:24.830> ourselves<02:10:24.920> I 02:10:25.330 --> 02:10:25.340 align:start position:0% tonight at 6:30 at fill ourselves I 02:10:25.340 --> 02:10:30.340 align:start position:0% tonight at 6:30 at fill ourselves I tested<02:10:25.370> Civic<02:10:26.710> Center<02:10:27.710> and<02:10:28.300> finally<02:10:29.350> Paris 02:10:30.340 --> 02:10:30.350 align:start position:0% tested Civic Center and finally Paris 02:10:30.350 --> 02:10:32.890 align:start position:0% tested Civic Center and finally Paris can<02:10:30.500> be<02:10:30.590> used<02:10:30.770> for<02:10:30.890> parties<02:10:31.420> now<02:10:32.420> there's<02:10:32.810> a 02:10:32.890 --> 02:10:32.900 align:start position:0% can be used for parties now there's a 02:10:32.900 --> 02:10:34.510 align:start position:0% can be used for parties now there's a dispute<02:10:33.110> about<02:10:33.320> what<02:10:33.650> is<02:10:33.800> it<02:10:33.920> were<02:10:34.010> provided 02:10:34.510 --> 02:10:34.520 align:start position:0% dispute about what is it were provided 02:10:34.520 --> 02:10:37.300 align:start position:0% dispute about what is it were provided in<02:10:35.030> the<02:10:35.450> two<02:10:35.630> participants<02:10:35.900> can<02:10:36.500> I<02:10:36.800> start<02:10:37.220> this 02:10:37.300 --> 02:10:37.310 align:start position:0% in the two participants can I start this 02:10:37.310 --> 02:10:39.490 align:start position:0% in the two participants can I start this with<02:10:37.490> this<02:10:37.610> product<02:10:38.050> so<02:10:39.050> this<02:10:39.170> is<02:10:39.290> how<02:10:39.440> the 02:10:39.490 --> 02:10:39.500 align:start position:0% with this product so this is how the 02:10:39.500 --> 02:10:42.940 align:start position:0% with this product so this is how the trail<02:10:39.770> system<02:10:40.330> looks<02:10:41.330> right<02:10:41.510> now<02:10:41.710> and<02:10:42.710> this<02:10:42.890> is 02:10:42.940 --> 02:10:42.950 align:start position:0% trail system looks right now and this is 02:10:42.950 --> 02:10:46.540 align:start position:0% trail system looks right now and this is how<02:10:43.310> it<02:10:43.730> will<02:10:44.510> look<02:10:44.780> in<02:10:45.080> the<02:10:45.140> future<02:10:45.340> when<02:10:46.340> all 02:10:46.540 --> 02:10:46.550 align:start position:0% how it will look in the future when all 02:10:46.550 --> 02:10:50.490 align:start position:0% how it will look in the future when all of<02:10:46.700> these<02:10:46.850> other<02:10:47.030> tasks<02:10:47.300> connected<02:10:47.870> to<02:10:47.990> theirs 02:10:50.490 --> 02:10:50.500 align:start position:0% of these other tasks connected to theirs 02:10:50.500 --> 02:10:54.160 align:start position:0% of these other tasks connected to theirs so<02:10:51.500> basically<02:10:52.160> these<02:10:52.730> to<02:10:52.910> solve<02:10:53.150> the<02:10:53.780> problems 02:10:54.160 --> 02:10:54.170 align:start position:0% so basically these to solve the problems 02:10:54.170 --> 02:10:57.340 align:start position:0% so basically these to solve the problems of<02:10:54.380> the<02:10:54.680> dispute<02:10:55.010> of<02:10:55.100> all<02:10:55.310> of<02:10:55.400> the<02:10:55.490> graphs<02:10:56.350> and 02:10:57.340 --> 02:10:57.350 align:start position:0% of the dispute of all of the graphs and 02:10:57.350 --> 02:10:59.850 align:start position:0% of the dispute of all of the graphs and this<02:10:57.530> is<02:10:57.620> the<02:10:57.710> standard<02:10:58.160> way<02:10:58.370> to<02:10:58.430> pitch<02:10:58.670> crepes 02:10:59.850 --> 02:10:59.860 align:start position:0% this is the standard way to pitch crepes 02:10:59.860 --> 02:11:04.330 align:start position:0% this is the standard way to pitch crepes but<02:11:01.240> there's<02:11:02.240> more<02:11:02.420> to<02:11:02.600> this<02:11:02.720> than<02:11:03.340> resolution 02:11:04.330 --> 02:11:04.340 align:start position:0% but there's more to this than resolution 02:11:04.340 --> 02:11:06.490 align:start position:0% but there's more to this than resolution unless<02:11:05.300> this<02:11:05.630> is<02:11:05.720> what<02:11:05.840> I<02:11:05.870> want<02:11:06.140> to<02:11:06.230> tell<02:11:06.380> you 02:11:06.490 --> 02:11:06.500 align:start position:0% unless this is what I want to tell you 02:11:06.500 --> 02:11:09.790 align:start position:0% unless this is what I want to tell you now<02:11:06.620> and<02:11:07.630> I<02:11:08.630> told<02:11:08.990> you<02:11:09.080> before<02:11:09.380> how<02:11:09.590> they 02:11:09.790 --> 02:11:09.800 align:start position:0% now and I told you before how they 02:11:09.800 --> 02:11:12.490 align:start position:0% now and I told you before how they Brittany<02:11:10.160> Marcia<02:11:10.550> world<02:11:11.020> but<02:11:12.020> I<02:11:12.050> didn't<02:11:12.350> tell 02:11:12.490 --> 02:11:12.500 align:start position:0% Brittany Marcia world but I didn't tell 02:11:12.500 --> 02:11:15.610 align:start position:0% Brittany Marcia world but I didn't tell you<02:11:12.620> all<02:11:12.710> the<02:11:12.800> story<02:11:13.210> because<02:11:14.620> remember 02:11:15.610 --> 02:11:15.620 align:start position:0% you all the story because remember 02:11:15.620 --> 02:11:19.060 align:start position:0% you all the story because remember Christ<02:11:16.010> in<02:11:16.130> his<02:11:16.220> reforms<02:11:17.230> that<02:11:18.230> he<02:11:18.560> created 02:11:19.060 --> 02:11:19.070 align:start position:0% Christ in his reforms that he created 02:11:19.070 --> 02:11:21.040 align:start position:0% Christ in his reforms that he created the<02:11:19.130> assembly<02:11:19.520> and<02:11:19.640> all<02:11:19.790> that<02:11:19.970> but<02:11:20.930> the 02:11:21.040 --> 02:11:21.050 align:start position:0% the assembly and all that but the 02:11:21.050 --> 02:11:23.500 align:start position:0% the assembly and all that but the democracy<02:11:21.530> isn't<02:11:21.770> working<02:11:22.280> that<02:11:22.790> no<02:11:23.360> one 02:11:23.500 --> 02:11:23.510 align:start position:0% democracy isn't working that no one 02:11:23.510 --> 02:11:27.490 align:start position:0% democracy isn't working that no one didn't<02:11:23.690> work<02:11:25.900> became<02:11:26.900> the<02:11:27.020> captain<02:11:27.200> Ernest 02:11:27.490 --> 02:11:27.500 align:start position:0% didn't work became the captain Ernest 02:11:27.500 --> 02:11:31.870 align:start position:0% didn't work became the captain Ernest the<02:11:27.620> majority<02:11:29.260> the<02:11:30.260> assembly<02:11:30.770> was<02:11:31.520> voting 02:11:31.870 --> 02:11:31.880 align:start position:0% the majority the assembly was voting 02:11:31.880 --> 02:11:35.410 align:start position:0% the majority the assembly was voting like<02:11:32.180> blocks<02:11:33.160> it<02:11:34.160> was<02:11:34.400> prosecuted<02:11:35.000> rights<02:11:35.330> of 02:11:35.410 --> 02:11:35.420 align:start position:0% like blocks it was prosecuted rights of 02:11:35.420 --> 02:11:40.060 align:start position:0% like blocks it was prosecuted rights of the<02:11:35.510> minority<02:11:35.990> and<02:11:36.760> descendant<02:11:38.110> regime<02:11:39.110> that 02:11:40.060 --> 02:11:40.070 align:start position:0% the minority and descendant regime that 02:11:40.070 --> 02:11:42.610 align:start position:0% the minority and descendant regime that later<02:11:40.370> called<02:11:40.670> it<02:11:40.760> Theotokos<02:11:41.420> Marty<02:11:42.410> being 02:11:42.610 --> 02:11:42.620 align:start position:0% later called it Theotokos Marty being 02:11:42.620 --> 02:11:44.530 align:start position:0% later called it Theotokos Marty being over<02:11:42.830> my<02:11:43.070> Twitter<02:11:43.280> are<02:11:44.030> the<02:11:44.180> two<02:11:44.360> people 02:11:44.530 --> 02:11:44.540 align:start position:0% over my Twitter are the two people 02:11:44.540 --> 02:11:48.550 align:start position:0% over my Twitter are the two people Twitter<02:11:44.840> like<02:11:46.120> every<02:11:47.120> day<02:11:47.270> like<02:11:47.560> yeah 02:11:48.550 --> 02:11:48.560 align:start position:0% Twitter like every day like yeah 02:11:48.560 --> 02:11:51.430 align:start position:0% Twitter like every day like yeah decision<02:11:49.460> right<02:11:49.670> that's<02:11:50.540> how<02:11:50.660> it<02:11:50.780> working<02:11:51.140> is 02:11:51.430 --> 02:11:51.440 align:start position:0% decision right that's how it working is 02:11:51.440 --> 02:11:54.970 align:start position:0% decision right that's how it working is right<02:11:52.130> after<02:11:52.310> the<02:11:53.470> reform<02:11:54.470> like<02:11:54.560> reference 02:11:54.970 --> 02:11:54.980 align:start position:0% right after the reform like reference 02:11:54.980 --> 02:11:57.490 align:start position:0% right after the reform like reference and<02:11:55.760> it<02:11:55.910> ended<02:11:56.150> up<02:11:56.270> in<02:11:56.390> a<02:11:56.540> very<02:11:56.870> disheartened 02:11:57.490 --> 02:11:57.500 align:start position:0% and it ended up in a very disheartened 02:11:57.500 --> 02:12:01.060 align:start position:0% and it ended up in a very disheartened leadership<02:11:57.920> of<02:11:58.160> the<02:11:58.340> thirty<02:11:58.550> tyrants<02:12:00.070> that 02:12:01.060 --> 02:12:01.070 align:start position:0% leadership of the thirty tyrants that 02:12:01.070 --> 02:12:03.160 align:start position:0% leadership of the thirty tyrants that Killaloe<02:12:01.580> people<02:12:01.940> and<02:12:02.510> in<02:12:02.690> the<02:12:02.780> restoration 02:12:03.160 --> 02:12:03.170 align:start position:0% Killaloe people and in the restoration 02:12:03.170 --> 02:12:06.070 align:start position:0% Killaloe people and in the restoration and<02:12:03.620> you<02:12:04.340> know<02:12:04.460> how<02:12:04.670> others<02:12:05.240> became<02:12:05.690> actually 02:12:06.070 --> 02:12:06.080 align:start position:0% and you know how others became actually 02:12:06.080 --> 02:12:07.549 align:start position:0% and you know how others became actually a<02:12:06.380> real<02:12:06.860> democracy 02:12:07.549 --> 02:12:07.559 align:start position:0% a real democracy 02:12:07.559 --> 02:12:11.379 align:start position:0% a real democracy and<02:12:07.679> a<02:12:07.800> trade<02:12:08.159> war<02:12:09.320> because<02:12:10.320> they<02:12:10.710> make<02:12:10.980> a 02:12:11.379 --> 02:12:11.389 align:start position:0% and a trade war because they make a 02:12:11.389 --> 02:12:14.450 align:start position:0% and a trade war because they make a small<02:12:12.389> change<02:12:12.719> in<02:12:13.320> their<02:12:13.800> solutions<02:12:14.280> they 02:12:14.450 --> 02:12:14.460 align:start position:0% small change in their solutions they 02:12:14.460 --> 02:12:16.549 align:start position:0% small change in their solutions they created<02:12:14.849> someone<02:12:15.210> called<02:12:15.570> a<02:12:15.630> man<02:12:15.809> no<02:12:16.170> more 02:12:16.549 --> 02:12:16.559 align:start position:0% created someone called a man no more 02:12:16.559 --> 02:12:20.379 align:start position:0% created someone called a man no more tonight<02:12:16.969> and<02:12:17.969> this<02:12:18.090> was<02:12:18.360> a<02:12:18.630> judiciary<02:12:19.340> review 02:12:20.379 --> 02:12:20.389 align:start position:0% tonight and this was a judiciary review 02:12:20.389 --> 02:12:25.459 align:start position:0% tonight and this was a judiciary review for<02:12:21.389> all<02:12:21.570> of<02:12:21.719> the<02:12:21.949> seminary's<02:12:24.199> this<02:12:25.199> is<02:12:25.320> hard 02:12:25.459 --> 02:12:25.469 align:start position:0% for all of the seminary's this is hard 02:12:25.469 --> 02:12:25.700 align:start position:0% for all of the seminary's this is hard work 02:12:25.700 --> 02:12:25.710 align:start position:0% work 02:12:25.710 --> 02:12:29.810 align:start position:0% work you<02:12:26.670> have<02:12:26.849> did<02:12:27.380> the<02:12:28.400> proposing<02:12:29.400> innocent 02:12:29.810 --> 02:12:29.820 align:start position:0% you have did the proposing innocent 02:12:29.820 --> 02:12:32.000 align:start position:0% you have did the proposing innocent education<02:12:30.539> to<02:12:30.630> the<02:12:30.750> assembly<02:12:31.110> are<02:12:31.440> phony 02:12:32.000 --> 02:12:32.010 align:start position:0% education to the assembly are phony 02:12:32.010 --> 02:12:36.410 align:start position:0% education to the assembly are phony assembly<02:12:32.539> and<02:12:33.539> then<02:12:33.780> after<02:12:34.199> the<02:12:34.820> route<02:12:35.820> was<02:12:36.030> an 02:12:36.410 --> 02:12:36.420 align:start position:0% assembly and then after the route was an 02:12:36.420 --> 02:12:39.859 align:start position:0% assembly and then after the route was an almost<02:12:36.630> passed<02:12:37.159> it<02:12:38.159> was<02:12:38.369> often<02:12:38.699> in<02:12:39.510> the<02:12:39.630> middle 02:12:39.859 --> 02:12:39.869 align:start position:0% almost passed it was often in the middle 02:12:39.869 --> 02:12:41.930 align:start position:0% almost passed it was often in the middle of<02:12:39.960> the<02:12:40.079> Agora<02:12:40.440> where<02:12:41.280> every<02:12:41.579> citizen<02:12:41.699> will 02:12:41.930 --> 02:12:41.940 align:start position:0% of the Agora where every citizen will 02:12:41.940 --> 02:12:45.350 align:start position:0% of the Agora where every citizen will receive<02:12:42.630> and<02:12:43.079> could<02:12:43.679> really<02:12:44.059> and<02:12:45.059> if<02:12:45.210> they 02:12:45.350 --> 02:12:45.360 align:start position:0% receive and could really and if they 02:12:45.360 --> 02:12:47.870 align:start position:0% receive and could really and if they thought<02:12:45.750> that<02:12:46.110> this<02:12:46.800> built<02:12:47.579> on<02:12:47.699> family 02:12:47.870 --> 02:12:47.880 align:start position:0% thought that this built on family 02:12:47.880 --> 02:12:51.229 align:start position:0% thought that this built on family Constitution<02:12:48.630> and<02:12:49.170> two<02:12:49.380> challenges<02:12:49.920> and<02:12:50.239> when 02:12:51.229 --> 02:12:51.239 align:start position:0% Constitution and two challenges and when 02:12:51.239 --> 02:12:55.250 align:start position:0% Constitution and two challenges and when they<02:12:51.360> challenge<02:12:51.599> it<02:12:53.659> they'll<02:12:54.659> open<02:12:54.989> to<02:12:55.199> a 02:12:55.250 --> 02:12:55.260 align:start position:0% they challenge it they'll open to a 02:12:55.260 --> 02:13:01.220 align:start position:0% they challenge it they'll open to a trial<02:12:55.969> so<02:12:56.969> you<02:12:57.000> have<02:12:57.949> jury<02:12:58.949> of<02:12:59.420> citizens<02:13:00.420> but 02:13:01.220 --> 02:13:01.230 align:start position:0% trial so you have jury of citizens but 02:13:01.230 --> 02:13:03.439 align:start position:0% trial so you have jury of citizens but conducted<02:13:01.650> a<02:13:01.710> trial<02:13:01.949> on<02:13:02.159> the<02:13:02.250> new<02:13:02.400> law<02:13:02.610> and 02:13:03.439 --> 02:13:03.449 align:start position:0% conducted a trial on the new law and 02:13:03.449 --> 02:13:07.010 align:start position:0% conducted a trial on the new law and some<02:13:04.079> important<02:13:04.889> thing<02:13:05.369> prosecutors<02:13:06.270> other 02:13:07.010 --> 02:13:07.020 align:start position:0% some important thing prosecutors other 02:13:07.020 --> 02:13:12.260 align:start position:0% some important thing prosecutors other defendants<02:13:07.590> and<02:13:07.800> then<02:13:08.039> actually<02:13:09.860> decision<02:13:11.270> so 02:13:12.260 --> 02:13:12.270 align:start position:0% defendants and then actually decision so 02:13:12.270 --> 02:13:16.339 align:start position:0% defendants and then actually decision so this<02:13:13.309> decision<02:13:14.329> will<02:13:15.329> not<02:13:15.360> the<02:13:15.750> dog<02:13:15.900> intercept 02:13:16.339 --> 02:13:16.349 align:start position:0% this decision will not the dog intercept 02:13:16.349 --> 02:13:21.250 align:start position:0% this decision will not the dog intercept and<02:13:17.219> it<02:13:17.400> was<02:13:17.550> all<02:13:17.789> powered<02:13:18.300> by<02:13:18.420> the<02:13:18.480> people 02:13:21.250 --> 02:13:21.260 align:start position:0% 02:13:21.260 --> 02:13:27.350 align:start position:0% this<02:13:22.260> is<02:13:22.349> why<02:13:22.590> very<02:13:23.579> famous<02:13:25.280> problem<02:13:26.280> is<02:13:27.119> if 02:13:27.350 --> 02:13:27.360 align:start position:0% this is why very famous problem is if 02:13:27.360 --> 02:13:29.209 align:start position:0% this is why very famous problem is if you<02:13:27.420> control<02:13:27.690> the<02:13:27.719> courts<02:13:28.079> you<02:13:28.800> control<02:13:29.130> the 02:13:29.209 --> 02:13:29.219 align:start position:0% you control the courts you control the 02:13:29.219 --> 02:13:32.000 align:start position:0% you control the courts you control the state<02:13:29.460> because<02:13:29.940> you<02:13:30.239> will<02:13:30.630> join<02:13:30.840> what<02:13:31.619> laws 02:13:32.000 --> 02:13:32.010 align:start position:0% state because you will join what laws 02:13:32.010 --> 02:13:36.949 align:start position:0% state because you will join what laws can<02:13:32.730> be<02:13:32.760> passed<02:13:32.849> in<02:13:33.570> your<02:13:33.809> community 02:13:36.949 --> 02:13:36.959 align:start position:0% 02:13:36.959 --> 02:13:40.609 align:start position:0% so<02:13:37.590> a<02:13:38.179> very<02:13:39.179> important<02:13:39.510> use<02:13:39.630> case<02:13:39.719> I<02:13:40.019> imagined 02:13:40.609 --> 02:13:40.619 align:start position:0% so a very important use case I imagined 02:13:40.619 --> 02:13:44.719 align:start position:0% so a very important use case I imagined Cantara<02:13:41.130> dollar<02:13:41.969> governance<02:13:42.449> is<02:13:43.610> critical<02:13:44.610> is 02:13:44.719 --> 02:13:44.729 align:start position:0% Cantara dollar governance is critical is 02:13:44.729 --> 02:13:48.580 align:start position:0% Cantara dollar governance is critical is judiciary<02:13:45.360> review<02:13:45.780> and<02:13:46.079> the<02:13:46.590> promotion<02:13:47.130> vote 02:13:48.580 --> 02:13:48.590 align:start position:0% judiciary review and the promotion vote 02:13:48.590 --> 02:13:53.239 align:start position:0% judiciary review and the promotion vote now<02:13:50.840> but<02:13:51.840> if<02:13:51.959> someone<02:13:52.260> comes<02:13:52.469> and<02:13:52.739> says<02:13:52.979> ok 02:13:53.239 --> 02:13:53.249 align:start position:0% now but if someone comes and says ok 02:13:53.249 --> 02:13:58.219 align:start position:0% now but if someone comes and says ok let's<02:13:53.519> raise<02:13:54.059> it<02:13:54.170> to<02:13:55.170> medium<02:13:55.920> or<02:13:57.229> something 02:13:58.219 --> 02:13:58.229 align:start position:0% let's raise it to medium or something 02:13:58.229 --> 02:14:02.870 align:start position:0% let's raise it to medium or something like<02:13:58.739> shouldn't<02:13:59.459> X<02:13:59.789> Dow<02:14:00.260> invest<02:14:01.260> or<02:14:01.880> give 02:14:02.870 --> 02:14:02.880 align:start position:0% like shouldn't X Dow invest or give 02:14:02.880 --> 02:14:05.899 align:start position:0% like shouldn't X Dow invest or give money<02:14:02.999> to<02:14:03.239> some<02:14:03.479> project<02:14:03.900> so<02:14:04.619> this<02:14:04.880> can<02:14:05.880> be 02:14:05.899 --> 02:14:05.909 align:start position:0% money to some project so this can be 02:14:05.909 --> 02:14:09.609 align:start position:0% money to some project so this can be passed<02:14:06.239> by<02:14:06.719> the<02:14:07.219> buddy<02:14:08.219> commutable 02:14:09.609 --> 02:14:09.619 align:start position:0% passed by the buddy commutable 02:14:09.619 --> 02:14:13.910 align:start position:0% passed by the buddy commutable split<02:14:10.619> sale<02:14:10.800> but<02:14:11.249> it<02:14:11.400> passes<02:14:11.610> so<02:14:12.769> those<02:14:13.769> who 02:14:13.910 --> 02:14:13.920 align:start position:0% split sale but it passes so those who 02:14:13.920 --> 02:14:16.669 align:start position:0% split sale but it passes so those who voted<02:14:14.070> yes<02:14:14.219> so<02:14:15.179> they<02:14:15.449> have<02:14:15.689> their<02:14:15.900> token<02:14:16.650> that 02:14:16.669 --> 02:14:16.679 align:start position:0% voted yes so they have their token that 02:14:16.679 --> 02:14:20.839 align:start position:0% voted yes so they have their token that stays<02:14:17.209> locked<02:14:18.209> into<02:14:18.749> their<02:14:19.019> world<02:14:19.199> and<02:14:19.889> then 02:14:20.839 --> 02:14:20.849 align:start position:0% stays locked into their world and then 02:14:20.849 --> 02:14:25.370 align:start position:0% stays locked into their world and then the<02:14:21.630> community<02:14:22.139> can<02:14:22.969> see<02:14:23.969> the<02:14:24.630> law<02:14:24.809> that<02:14:25.229> was 02:14:25.370 --> 02:14:25.380 align:start position:0% the community can see the law that was 02:14:25.380 --> 02:14:27.410 align:start position:0% the community can see the law that was passed<02:14:25.439> and<02:14:26.400> if<02:14:26.760> they<02:14:26.880> don't<02:14:26.999> see<02:14:27.179> that<02:14:27.209> they 02:14:27.410 --> 02:14:27.420 align:start position:0% passed and if they don't see that they 02:14:27.420 --> 02:14:28.939 align:start position:0% passed and if they don't see that they complies<02:14:27.809> with<02:14:27.840> the<02:14:28.050> Constitution<02:14:28.139> they<02:14:28.800> can 02:14:28.939 --> 02:14:28.949 align:start position:0% complies with the Constitution they can 02:14:28.949 --> 02:14:31.729 align:start position:0% complies with the Constitution they can change<02:14:29.219> that<02:14:29.519> law<02:14:29.760> and<02:14:30.170> this<02:14:31.170> will<02:14:31.409> send<02:14:31.559> it<02:14:31.650> to 02:14:31.729 --> 02:14:31.739 align:start position:0% change that law and this will send it to 02:14:31.739 --> 02:14:34.669 align:start position:0% change that law and this will send it to trial<02:14:33.229> of<02:14:34.229> course 02:14:34.669 --> 02:14:34.679 align:start position:0% trial of course 02:14:34.679 --> 02:14:38.060 align:start position:0% trial of course Tara's<02:14:35.010> right<02:14:35.789> and<02:14:36.479> the<02:14:36.659> earth<02:14:36.900> would<02:14:37.739> create 02:14:38.060 --> 02:14:38.070 align:start position:0% Tara's right and the earth would create 02:14:38.070 --> 02:14:41.629 align:start position:0% Tara's right and the earth would create a<02:14:38.280> jury<02:14:38.519> of<02:14:38.999> randomly<02:14:39.449> selected<02:14:40.099> users<02:14:41.099> and 02:14:41.629 --> 02:14:41.639 align:start position:0% a jury of randomly selected users and 02:14:41.639 --> 02:14:47.179 align:start position:0% a jury of randomly selected users and these<02:14:42.179> guys<02:14:42.420> are<02:14:42.900> going<02:14:43.199> to<02:14:45.530> decide<02:14:46.530> if<02:14:47.070> this 02:14:47.179 --> 02:14:47.189 align:start position:0% these guys are going to decide if this 02:14:47.189 --> 02:14:49.790 align:start position:0% these guys are going to decide if this proposal<02:14:47.449> is<02:14:48.449> compatible<02:14:48.989> or<02:14:49.139> not<02:14:49.170> with<02:14:49.679> the 02:14:49.790 --> 02:14:49.800 align:start position:0% proposal is compatible or not with the 02:14:49.800 --> 02:14:53.679 align:start position:0% proposal is compatible or not with the tower<02:14:50.010> Constitution<02:14:50.789> and<02:14:52.010> the<02:14:53.010> trial 02:14:53.679 --> 02:14:53.689 align:start position:0% tower Constitution and the trial 02:14:53.689 --> 02:14:55.879 align:start position:0% tower Constitution and the trial different<02:14:54.689> parties<02:14:55.019> arguing<02:14:55.349> about<02:14:55.590> things 02:14:55.879 --> 02:14:55.889 align:start position:0% different parties arguing about things 02:14:55.889 --> 02:15:01.609 align:start position:0% different parties arguing about things and<02:14:56.550> Israelis<02:14:57.479> went<02:14:57.689> home<02:14:57.959> and<02:14:58.219> if<02:14:59.219> you<02:15:00.619> voted 02:15:01.609 --> 02:15:01.619 align:start position:0% and Israelis went home and if you voted 02:15:01.619 --> 02:15:04.910 align:start position:0% and Israelis went home and if you voted for<02:15:02.010> the<02:15:02.249> proposal<02:15:02.969> in<02:15:03.269> the<02:15:03.889> promotion<02:15:04.889> code 02:15:04.910 --> 02:15:04.920 align:start position:0% for the proposal in the promotion code 02:15:04.920 --> 02:15:07.279 align:start position:0% for the proposal in the promotion code and<02:15:05.369> then<02:15:05.820> this<02:15:05.939> is<02:15:06.059> overturned<02:15:06.570> by<02:15:06.809> defended 02:15:07.279 --> 02:15:07.289 align:start position:0% and then this is overturned by defended 02:15:07.289 --> 02:15:10.699 align:start position:0% and then this is overturned by defended by<02:15:07.860> the<02:15:07.920> directory<02:15:08.840> producer<02:15:09.840> deposit<02:15:10.229> right 02:15:10.699 --> 02:15:10.709 align:start position:0% by the directory producer deposit right 02:15:10.709 --> 02:15:14.089 align:start position:0% by the directory producer deposit right and<02:15:11.610> this<02:15:11.849> and<02:15:12.300> is<02:15:13.110> distributed<02:15:13.679> to<02:15:13.800> those<02:15:13.920> who 02:15:14.089 --> 02:15:14.099 align:start position:0% and this and is distributed to those who 02:15:14.099 --> 02:15:16.879 align:start position:0% and this and is distributed to those who challenged<02:15:14.459> and<02:15:14.789> the<02:15:15.780> drug<02:15:16.050> participated<02:15:16.800> in 02:15:16.879 --> 02:15:16.889 align:start position:0% challenged and the drug participated in 02:15:16.889 --> 02:15:18.100 align:start position:0% challenged and the drug participated in the<02:15:17.039> trial 02:15:18.100 --> 02:15:18.110 align:start position:0% the trial 02:15:18.110 --> 02:15:22.969 align:start position:0% the trial so<02:15:19.110> this<02:15:19.289> is<02:15:19.349> how<02:15:19.499> a<02:15:19.530> magic<02:15:20.099> clear<02:15:20.760> us<02:15:20.939> to<02:15:21.979> be 02:15:22.969 --> 02:15:22.979 align:start position:0% so this is how a magic clear us to be 02:15:22.979 --> 02:15:25.189 align:start position:0% so this is how a magic clear us to be used<02:15:23.189> in<02:15:23.550> the<02:15:23.670> middle<02:15:23.820> of<02:15:24.119> the<02:15:24.539> governance 02:15:25.189 --> 02:15:25.199 align:start position:0% used in the middle of the governance 02:15:25.199 --> 02:15:27.439 align:start position:0% used in the middle of the governance john<02:15:26.159> was<02:15:26.519> asking<02:15:26.849> before<02:15:26.939> how<02:15:27.209> do<02:15:27.269> you 02:15:27.439 --> 02:15:27.449 align:start position:0% john was asking before how do you 02:15:27.449 --> 02:15:31.790 align:start position:0% john was asking before how do you prevent<02:15:27.749> from<02:15:28.579> but<02:15:29.579> those<02:15:29.849> pass<02:15:30.239> a<02:15:30.510> patent<02:15:30.900> for 02:15:31.790 --> 02:15:31.800 align:start position:0% prevent from but those pass a patent for 02:15:31.800 --> 02:15:35.689 align:start position:0% prevent from but those pass a patent for to<02:15:31.979> be<02:15:32.070> done<02:15:32.249> for<02:15:32.909> buying<02:15:33.209> so<02:15:33.959> if<02:15:34.469> we<02:15:34.679> have<02:15:34.889> this 02:15:35.689 --> 02:15:35.699 align:start position:0% to be done for buying so if we have this 02:15:35.699 --> 02:15:39.220 align:start position:0% to be done for buying so if we have this layer<02:15:35.999> of<02:15:36.679> tradition<02:15:37.679> based<02:15:38.159> on 02:15:39.220 --> 02:15:39.230 align:start position:0% layer of tradition based on 02:15:39.230 --> 02:15:41.740 align:start position:0% layer of tradition based on disruption<02:15:39.980> our<02:15:40.070> mechanism<02:15:40.580> that<02:15:41.449> this<02:15:41.570> is<02:15:41.690> a 02:15:41.740 --> 02:15:41.750 align:start position:0% disruption our mechanism that this is a 02:15:41.750 --> 02:15:45.370 align:start position:0% disruption our mechanism that this is a solution<02:15:41.900> for<02:15:42.140> that<02:15:43.900> so<02:15:44.900> basically<02:15:44.989> imagine 02:15:45.370 --> 02:15:45.380 align:start position:0% solution for that so basically imagine 02:15:45.380 --> 02:15:46.780 align:start position:0% solution for that so basically imagine that<02:15:45.800> besides<02:15:46.160> although<02:15:46.460> we<02:15:46.550> know<02:15:46.670> about 02:15:46.780 --> 02:15:46.790 align:start position:0% that besides although we know about 02:15:46.790 --> 02:15:48.750 align:start position:0% that besides although we know about Gareth<02:15:47.150> about<02:15:47.360> centralized<02:15:48.140> course<02:15:48.410> for 02:15:48.750 --> 02:15:48.760 align:start position:0% Gareth about centralized course for 02:15:48.760 --> 02:15:51.550 align:start position:0% Gareth about centralized course for website<02:15:49.760> and<02:15:50.090> that<02:15:50.179> kind<02:15:50.360> of<02:15:50.420> stuff<02:15:50.630> I<02:15:50.989> think 02:15:51.550 --> 02:15:51.560 align:start position:0% website and that kind of stuff I think 02:15:51.560 --> 02:15:53.160 align:start position:0% website and that kind of stuff I think it's<02:15:51.890> going<02:15:52.010> to<02:15:52.040> play<02:15:52.190> a<02:15:52.250> very<02:15:52.520> important<02:15:52.880> role 02:15:53.160 --> 02:15:53.170 align:start position:0% it's going to play a very important role 02:15:53.170 --> 02:15:57.669 align:start position:0% it's going to play a very important role but<02:15:54.170> these<02:15:54.520> vows<02:15:55.520> generate<02:15:56.480> now<02:15:57.170> some<02:15:57.380> kind<02:15:57.500> of 02:15:57.669 --> 02:15:57.679 align:start position:0% but these vows generate now some kind of 02:15:57.679 --> 02:15:59.950 align:start position:0% but these vows generate now some kind of centralized<02:15:58.280> support<02:15:58.760> services<02:15:59.719> you<02:15:59.780> can 02:15:59.950 --> 02:15:59.960 align:start position:0% centralized support services you can 02:15:59.960 --> 02:16:02.740 align:start position:0% centralized support services you can approve<02:16:00.230> and<02:16:00.739> then<02:16:01.130> you<02:16:01.550> get<02:16:01.850> the<02:16:02.270> decisions 02:16:02.740 --> 02:16:02.750 align:start position:0% approve and then you get the decisions 02:16:02.750 --> 02:16:07.419 align:start position:0% approve and then you get the decisions made<02:16:02.810> right<02:16:03.320> and<02:16:05.199> ACC's<02:16:06.199> a<02:16:06.440> Supreme<02:16:07.250> Court 02:16:07.419 --> 02:16:07.429 align:start position:0% made right and ACC's a Supreme Court 02:16:07.429 --> 02:16:08.860 align:start position:0% made right and ACC's a Supreme Court that<02:16:07.520> is<02:16:07.699> controlled<02:16:08.150> by<02:16:08.179> the<02:16:08.270> users<02:16:08.630> right 02:16:08.860 --> 02:16:08.870 align:start position:0% that is controlled by the users right 02:16:08.870 --> 02:16:11.650 align:start position:0% that is controlled by the users right this<02:16:09.679> is<02:16:09.910> controlled<02:16:10.910> by<02:16:10.940> people<02:16:11.300> who<02:16:11.360> are<02:16:11.540> in 02:16:11.650 --> 02:16:11.660 align:start position:0% this is controlled by people who are in 02:16:11.660 --> 02:16:14.140 align:start position:0% this is controlled by people who are in the<02:16:11.719> Dow<02:16:11.920> I<02:16:12.920> think<02:16:13.520> it's<02:16:13.640> going<02:16:13.790> to<02:16:13.820> be<02:16:13.969> very 02:16:14.140 --> 02:16:14.150 align:start position:0% the Dow I think it's going to be very 02:16:14.150 --> 02:16:16.840 align:start position:0% the Dow I think it's going to be very important<02:16:14.630> to<02:16:14.719> have<02:16:15.380> solid<02:16:16.040> governance<02:16:16.610> for 02:16:16.840 --> 02:16:16.850 align:start position:0% important to have solid governance for 02:16:16.850 --> 02:16:23.340 align:start position:0% important to have solid governance for the<02:16:16.880> project<02:16:17.719> so<02:16:18.380> thank<02:16:19.070> you<02:16:19.160> very<02:16:19.190> much<02:16:22.179> about 02:16:23.340 --> 02:16:23.350 align:start position:0% the project so thank you very much about 02:16:23.350 --> 02:16:25.800 align:start position:0% the project so thank you very much about governance<02:16:24.350> do<02:16:24.560> you<02:16:24.739> have<02:16:24.860> those<02:16:24.980> slides<02:16:25.219> I 02:16:25.800 --> 02:16:25.810 align:start position:0% governance do you have those slides I 02:16:25.810 --> 02:16:28.209 align:start position:0% governance do you have those slides I did<02:16:26.810> you<02:16:26.870> send<02:16:27.050> me<02:16:27.199> okay<02:16:27.410> sorry<02:16:27.679> I<02:16:27.920> will<02:16:28.100> get 02:16:28.209 --> 02:16:28.219 align:start position:0% did you send me okay sorry I will get 02:16:28.219 --> 02:16:31.720 align:start position:0% did you send me okay sorry I will get the<02:16:28.310> second<02:16:29.300> circle<02:16:29.660> you<02:16:30.260> would<02:16:30.380> be<02:16:30.730> director 02:16:31.720 --> 02:16:31.730 align:start position:0% the second circle you would be director 02:16:31.730 --> 02:16:32.379 align:start position:0% the second circle you would be director yes 02:16:32.379 --> 02:16:32.389 align:start position:0% yes 02:16:32.389 --> 02:16:34.179 align:start position:0% yes Nancy<02:16:32.719> passion<02:16:33.110> foundation<02:16:33.590> so<02:16:33.830> yeah<02:16:34.010> we're 02:16:34.179 --> 02:16:34.189 align:start position:0% Nancy passion foundation so yeah we're 02:16:34.189 --> 02:16:35.350 align:start position:0% Nancy passion foundation so yeah we're really<02:16:34.340> excited<02:16:34.519> to<02:16:34.700> have<02:16:34.729> Josh<02:16:35.030> here<02:16:35.059> with<02:16:35.269> us 02:16:35.350 --> 02:16:35.360 align:start position:0% really excited to have Josh here with us 02:16:35.360 --> 02:16:36.490 align:start position:0% really excited to have Josh here with us today<02:16:35.479> why<02:16:35.689> don't<02:16:35.750> you<02:16:35.870> kick<02:16:36.019> off<02:16:36.139> introduce 02:16:36.490 --> 02:16:36.500 align:start position:0% today why don't you kick off introduce 02:16:36.500 --> 02:16:38.169 align:start position:0% today why don't you kick off introduce yourself<02:16:36.800> and<02:16:36.889> all<02:16:37.010> you<02:16:37.490> evil<02:16:37.760> eyes<02:16:38.000> what<02:16:38.150> to 02:16:38.169 --> 02:16:38.179 align:start position:0% yourself and all you evil eyes what to 02:16:38.179 --> 02:16:45.520 align:start position:0% yourself and all you evil eyes what to do<02:16:38.860> Twitter<02:16:39.860> DM<02:16:40.040> yeah<02:16:43.929> and<02:16:44.929> thanks<02:16:45.260> to<02:16:45.349> all<02:16:45.380> the 02:16:45.520 --> 02:16:45.530 align:start position:0% do Twitter DM yeah and thanks to all the 02:16:45.530 --> 02:16:47.830 align:start position:0% do Twitter DM yeah and thanks to all the other<02:16:45.650> presenters<02:16:46.099> for<02:16:46.370> their<02:16:46.519> great<02:16:46.840> great 02:16:47.830 --> 02:16:47.840 align:start position:0% other presenters for their great great 02:16:47.840 --> 02:16:50.679 align:start position:0% other presenters for their great great talks<02:16:48.170> so<02:16:49.160> as<02:16:49.309> I<02:16:49.519> mentioned<02:16:50.030> I<02:16:50.179> am<02:16:50.210> the 02:16:50.679 --> 02:16:50.689 align:start position:0% talks so as I mentioned I am the 02:16:50.689 --> 02:16:52.030 align:start position:0% talks so as I mentioned I am the executive<02:16:51.050> director<02:16:51.080> of<02:16:51.410> the<02:16:51.559> C<02:16:51.710> contra 02:16:52.030 --> 02:16:52.040 align:start position:0% executive director of the C contra 02:16:52.040 --> 02:16:56.650 align:start position:0% executive director of the C contra nomination<02:16:52.550> as<02:16:55.000> honestly<02:16:56.000> I<02:16:56.269> think<02:16:56.330> this<02:16:56.510> is 02:16:56.650 --> 02:16:56.660 align:start position:0% nomination as honestly I think this is 02:16:56.660 --> 02:16:57.850 align:start position:0% nomination as honestly I think this is probably<02:16:56.960> going<02:16:57.080> to<02:16:57.139> be<02:16:57.200> the<02:16:57.349> most<02:16:57.500> boring 02:16:57.850 --> 02:16:57.860 align:start position:0% probably going to be the most boring 02:16:57.860 --> 02:17:00.730 align:start position:0% probably going to be the most boring lightning<02:16:58.580> talk<02:16:58.790> of<02:16:59.290> everyone's<02:17:00.290> because<02:17:00.590> it 02:17:00.730 --> 02:17:00.740 align:start position:0% lightning talk of everyone's because it 02:17:00.740 --> 02:17:03.459 align:start position:0% lightning talk of everyone's because it is<02:17:00.889> our<02:17:01.610> governance<02:17:02.210> process<02:17:02.630> is<02:17:02.809> decidedly 02:17:03.459 --> 02:17:03.469 align:start position:0% is our governance process is decidedly 02:17:03.469 --> 02:17:06.580 align:start position:0% is our governance process is decidedly the<02:17:03.650> most<02:17:03.889> off<02:17:04.099> chain<02:17:04.400> is<02:17:05.389> the<02:17:05.750> most<02:17:06.019> sort<02:17:06.469> of 02:17:06.580 --> 02:17:06.590 align:start position:0% the most off chain is the most sort of 02:17:06.590 --> 02:17:09.790 align:start position:0% the most off chain is the most sort of meatspace<02:17:07.070> consensus<02:17:07.820> and<02:17:08.679> actually<02:17:09.679> it's 02:17:09.790 --> 02:17:09.800 align:start position:0% meatspace consensus and actually it's 02:17:09.800 --> 02:17:12.549 align:start position:0% meatspace consensus and actually it's also<02:17:09.920> one<02:17:10.429> that<02:17:10.550> is<02:17:10.630> much<02:17:11.630> more<02:17:11.900> I<02:17:12.290> think 02:17:12.549 --> 02:17:12.559 align:start position:0% also one that is much more I think 02:17:12.559 --> 02:17:15.100 align:start position:0% also one that is much more I think legally<02:17:13.309> enforced<02:17:13.820> that 02:17:15.100 --> 02:17:15.110 align:start position:0% legally enforced that 02:17:15.110 --> 02:17:17.020 align:start position:0% legally enforced that get<02:17:15.440> it<02:17:15.530> a<02:17:15.890> little<02:17:16.220> bit<02:17:16.430> of<02:17:16.490> that<02:17:16.551> in<02:17:16.670> a<02:17:16.730> second 02:17:17.020 --> 02:17:17.030 align:start position:0% get it a little bit of that in a second 02:17:17.030 --> 02:17:19.660 align:start position:0% get it a little bit of that in a second so<02:17:17.301> first<02:17:17.900> off<02:17:18.080> a<02:17:18.110> toast<02:17:18.470> to<02:17:19.100> governance<02:17:19.430> the 02:17:19.660 --> 02:17:19.670 align:start position:0% so first off a toast to governance the 02:17:19.670 --> 02:17:22.530 align:start position:0% so first off a toast to governance the cause<02:17:19.850> of<02:17:19.880> and<02:17:20.330> solution<02:17:20.690> to<02:17:20.920> always<02:17:21.920> performs 02:17:22.530 --> 02:17:22.540 align:start position:0% cause of and solution to always performs 02:17:22.540 --> 02:17:25.541 align:start position:0% cause of and solution to always performs much<02:17:23.540> like<02:17:23.780> alcohol<02:17:24.260> a<02:17:24.560> little<02:17:25.070> bit<02:17:25.190> is<02:17:25.280> great 02:17:25.541 --> 02:17:25.551 align:start position:0% much like alcohol a little bit is great 02:17:25.551 --> 02:17:27.640 align:start position:0% much like alcohol a little bit is great but<02:17:25.850> too<02:17:26.060> much<02:17:26.270> it'll<02:17:26.510> kill<02:17:26.780> you 02:17:27.640 --> 02:17:27.650 align:start position:0% but too much it'll kill you 02:17:27.650 --> 02:17:32.291 align:start position:0% but too much it'll kill you so<02:17:28.580> let's<02:17:29.450> talk<02:17:30.051> about<02:17:30.110> that<02:17:31.070> I<02:17:31.490> think 02:17:32.291 --> 02:17:32.301 align:start position:0% so let's talk about that I think 02:17:32.301 --> 02:17:35.590 align:start position:0% so let's talk about that I think generally<02:17:33.260> speaking<02:17:33.290> in<02:17:34.510> you<02:17:35.510> know 02:17:35.590 --> 02:17:35.600 align:start position:0% generally speaking in you know 02:17:35.600 --> 02:17:38.610 align:start position:0% generally speaking in you know cryptocurrency<02:17:36.350> systems<02:17:37.010> you<02:17:37.430> have<02:17:37.670> this 02:17:38.610 --> 02:17:38.620 align:start position:0% cryptocurrency systems you have this 02:17:38.620 --> 02:17:41.140 align:start position:0% cryptocurrency systems you have this have<02:17:39.620> a<02:17:39.650> number<02:17:40.130> of<02:17:40.341> set<02:17:40.551> of<02:17:40.610> stakeholders<02:17:40.820> and 02:17:41.140 --> 02:17:41.150 align:start position:0% have a number of set of stakeholders and 02:17:41.150 --> 02:17:43.300 align:start position:0% have a number of set of stakeholders and it's<02:17:41.240> obviously<02:17:41.630> you<02:17:41.930> mean<02:17:42.140> a<02:17:42.591> little<02:17:43.220> bit 02:17:43.300 --> 02:17:43.310 align:start position:0% it's obviously you mean a little bit 02:17:43.310 --> 02:17:45.070 align:start position:0% it's obviously you mean a little bit broader<02:17:43.490> than<02:17:43.730> this<02:17:43.910> but<02:17:44.150> at<02:17:44.630> least<02:17:44.810> in<02:17:44.960> my 02:17:45.070 --> 02:17:45.080 align:start position:0% broader than this but at least in my 02:17:45.080 --> 02:17:47.710 align:start position:0% broader than this but at least in my rooms<02:17:45.350> he<02:17:45.440> captures<02:17:45.860> the<02:17:45.890> way<02:17:46.220> that<02:17:46.460> I<02:17:46.730> tend<02:17:47.510> to 02:17:47.710 --> 02:17:47.720 align:start position:0% rooms he captures the way that I tend to 02:17:47.720 --> 02:17:49.900 align:start position:0% rooms he captures the way that I tend to divide<02:17:48.051> up<02:17:48.380> different<02:17:49.190> stakeholders<02:17:49.790> that 02:17:49.900 --> 02:17:49.910 align:start position:0% divide up different stakeholders that 02:17:49.910 --> 02:17:51.791 align:start position:0% divide up different stakeholders that may<02:17:50.120> have<02:17:50.360> different<02:17:50.540> conflicting<02:17:50.801> interests 02:17:51.791 --> 02:17:51.801 align:start position:0% may have different conflicting interests 02:17:51.801 --> 02:17:53.770 align:start position:0% may have different conflicting interests at<02:17:51.890> times<02:17:52.130> may<02:17:52.341> have<02:17:52.540> common<02:17:53.540> aligned 02:17:53.770 --> 02:17:53.780 align:start position:0% at times may have common aligned 02:17:53.780 --> 02:17:57.370 align:start position:0% at times may have common aligned interests<02:17:54.170> and<02:17:55.450> what<02:17:56.450> we're<02:17:56.660> kind<02:17:56.960> of<02:17:57.051> relying 02:17:57.370 --> 02:17:57.380 align:start position:0% interests and what we're kind of relying 02:17:57.380 --> 02:17:59.050 align:start position:0% interests and what we're kind of relying on<02:17:57.591> is<02:17:57.770> that<02:17:57.950> each<02:17:58.250> group<02:17:58.430> relies<02:17:58.760> on<02:17:58.790> trust 02:17:59.050 --> 02:17:59.060 align:start position:0% on is that each group relies on trust 02:17:59.060 --> 02:18:02.640 align:start position:0% on is that each group relies on trust co2<02:17:59.720> in<02:18:00.140> some<02:18:00.380> fashion<02:18:00.650> but<02:18:01.040> they<02:18:01.700> also<02:18:01.880> have 02:18:02.640 --> 02:18:02.650 align:start position:0% co2 in some fashion but they also have 02:18:02.650 --> 02:18:06.250 align:start position:0% co2 in some fashion but they also have some<02:18:03.650> kind<02:18:03.950> of<02:18:03.980> ability<02:18:04.100> to<02:18:04.430> ameliorate<02:18:05.260> any 02:18:06.250 --> 02:18:06.260 align:start position:0% some kind of ability to ameliorate any 02:18:06.260 --> 02:18:08.050 align:start position:0% some kind of ability to ameliorate any kind<02:18:06.650> of<02:18:06.950> disagreement<02:18:07.370> that<02:18:07.520> you<02:18:07.700> might<02:18:07.850> have 02:18:08.050 --> 02:18:08.060 align:start position:0% kind of disagreement that you might have 02:18:08.060 --> 02:18:13.000 align:start position:0% kind of disagreement that you might have as<02:18:08.630> as<02:18:09.220> John<02:18:10.220> mentioned<02:18:10.490> before<02:18:11.210> about<02:18:12.010> bigger 02:18:13.000 --> 02:18:13.010 align:start position:0% as as John mentioned before about bigger 02:18:13.010 --> 02:18:15.070 align:start position:0% as as John mentioned before about bigger wine<02:18:13.280> there's<02:18:13.520> the<02:18:13.730> UAS<02:18:14.120> mm<02:18:14.540> and<02:18:14.780> every 02:18:15.070 --> 02:18:15.080 align:start position:0% wine there's the UAS mm and every 02:18:15.080 --> 02:18:16.510 align:start position:0% wine there's the UAS mm and every segment<02:18:15.290> that<02:18:15.560> was<02:18:15.650> a<02:18:15.710> clear<02:18:16.310> demonstration 02:18:16.510 --> 02:18:16.520 align:start position:0% segment that was a clear demonstration 02:18:16.520 --> 02:18:19.180 align:start position:0% segment that was a clear demonstration of<02:18:16.970> users<02:18:17.360> overriding<02:18:18.051> what<02:18:18.620> appeared<02:18:19.070> to<02:18:19.100> be 02:18:19.180 --> 02:18:19.190 align:start position:0% of users overriding what appeared to be 02:18:19.190 --> 02:18:24.120 align:start position:0% of users overriding what appeared to be minor<02:18:19.610> and<02:18:20.150> corporate<02:18:20.990> origin 02:18:24.120 --> 02:18:24.130 align:start position:0% 02:18:24.130 --> 02:18:28.240 align:start position:0% so<02:18:25.130> what<02:18:25.309> in<02:18:26.029> the<02:18:26.179> Z<02:18:26.359> cache<02:18:26.740> like<02:18:27.740> at<02:18:27.859> least<02:18:28.040> in 02:18:28.240 --> 02:18:28.250 align:start position:0% so what in the Z cache like at least in 02:18:28.250 --> 02:18:30.700 align:start position:0% so what in the Z cache like at least in the<02:18:28.849> easy<02:18:29.090> cash<02:18:29.210> foundation<02:18:29.809> side<02:18:30.080> and<02:18:30.500> on<02:18:30.620> the 02:18:30.700 --> 02:18:30.710 align:start position:0% the easy cash foundation side and on the 02:18:30.710 --> 02:18:33.339 align:start position:0% the easy cash foundation side and on the electrical<02:18:31.069> intimate<02:18:31.550> side<02:18:31.729> which<02:18:31.969> is<02:18:32.120> in<02:18:32.349> the 02:18:33.339 --> 02:18:33.349 align:start position:0% electrical intimate side which is in the 02:18:33.349 --> 02:18:35.080 align:start position:0% electrical intimate side which is in the for-profit<02:18:33.620> entity<02:18:34.340> that<02:18:34.460> really<02:18:34.969> has<02:18:35.059> been 02:18:35.080 --> 02:18:35.090 align:start position:0% for-profit entity that really has been 02:18:35.090 --> 02:18:37.809 align:start position:0% for-profit entity that really has been responsible<02:18:35.899> for<02:18:36.349> the<02:18:36.889> vast<02:18:37.160> majority<02:18:37.399> of 02:18:37.809 --> 02:18:37.819 align:start position:0% responsible for the vast majority of 02:18:37.819 --> 02:18:40.120 align:start position:0% responsible for the vast majority of developments<02:18:38.389> in<02:18:38.540> cash<02:18:38.719> attending<02:18:39.260> and<02:18:40.099> we 02:18:40.120 --> 02:18:40.130 align:start position:0% developments in cash attending and we 02:18:40.130 --> 02:18:46.480 align:start position:0% developments in cash attending and we focus<02:18:40.609> more<02:18:40.819> on<02:18:40.880> the<02:18:40.939> development<02:18:41.540> side<02:18:44.200> so<02:18:45.490> we 02:18:46.480 --> 02:18:46.490 align:start position:0% focus more on the development side so we 02:18:46.490 --> 02:18:48.280 align:start position:0% focus more on the development side so we have<02:18:46.519> the<02:18:46.729> sort<02:18:46.939> of<02:18:46.969> aspirational<02:18:47.359> model<02:18:47.809> and 02:18:48.280 --> 02:18:48.290 align:start position:0% have the sort of aspirational model and 02:18:48.290 --> 02:18:50.769 align:start position:0% have the sort of aspirational model and give<02:18:48.740> me<02:18:48.950> in<02:18:49.279> the<02:18:49.399> community<02:18:49.790> of<02:18:50.090> this<02:18:50.269> to<02:18:50.599> of 02:18:50.769 --> 02:18:50.779 align:start position:0% give me in the community of this to of 02:18:50.779 --> 02:18:52.719 align:start position:0% give me in the community of this to of to<02:18:51.019> whom<02:18:51.200> all<02:18:51.410> these<02:18:51.590> central<02:18:52.189> governments 02:18:52.719 --> 02:18:52.729 align:start position:0% to whom all these central governments 02:18:52.729 --> 02:18:55.089 align:start position:0% to whom all these central governments and<02:18:52.910> yet<02:18:53.569> idea<02:18:53.809> behind<02:18:53.960> that<02:18:54.290> is<02:18:54.620> that<02:18:54.679> you 02:18:55.089 --> 02:18:55.099 align:start position:0% and yet idea behind that is that you 02:18:55.099 --> 02:18:57.280 align:start position:0% and yet idea behind that is that you have<02:18:55.309> these<02:18:55.519> two<02:18:55.880> separate<02:18:56.809> but<02:18:57.050> allowing 02:18:57.280 --> 02:18:57.290 align:start position:0% have these two separate but allowing 02:18:57.290 --> 02:18:59.559 align:start position:0% have these two separate but allowing organizations<02:18:57.529> of<02:18:58.130> development<02:18:58.519> side<02:18:58.700> one 02:18:59.559 --> 02:18:59.569 align:start position:0% organizations of development side one 02:18:59.569 --> 02:19:01.480 align:start position:0% organizations of development side one feel<02:18:59.750> like<02:18:59.870> a<02:18:59.960> coin<02:19:00.170> company<02:19:00.380> as<02:19:01.010> mentioned 02:19:01.480 --> 02:19:01.490 align:start position:0% feel like a coin company as mentioned 02:19:01.490 --> 02:19:02.500 align:start position:0% feel like a coin company as mentioned there<02:19:01.580> they're<02:19:01.880> the<02:19:02.000> ones<02:19:02.179> that<02:19:02.359> really 02:19:02.500 --> 02:19:02.510 align:start position:0% there they're the ones that really 02:19:02.510 --> 02:19:04.839 align:start position:0% there they're the ones that really started<02:19:02.899> everything<02:19:03.200> on<02:19:04.189> the<02:19:04.279> sea<02:19:04.399> cash<02:19:04.580> side 02:19:04.839 --> 02:19:04.849 align:start position:0% started everything on the sea cash side 02:19:04.849 --> 02:19:07.269 align:start position:0% started everything on the sea cash side and<02:19:05.750> they<02:19:05.929> are<02:19:05.960> answerable<02:19:06.679> to<02:19:06.769> shareholders 02:19:07.269 --> 02:19:07.279 align:start position:0% and they are answerable to shareholders 02:19:07.279 --> 02:19:09.160 align:start position:0% and they are answerable to shareholders the<02:19:07.639> agency<02:19:08.000> cash<02:19:08.179> foundation<02:19:08.689> that<02:19:08.870> was<02:19:08.929> set 02:19:09.160 --> 02:19:09.170 align:start position:0% the agency cash foundation that was set 02:19:09.170 --> 02:19:11.950 align:start position:0% the agency cash foundation that was set up<02:19:09.200> about<02:19:09.649> a<02:19:09.859> year<02:19:10.040> later<02:19:10.340> after<02:19:11.240> what 02:19:11.950 --> 02:19:11.960 align:start position:0% up about a year later after what 02:19:11.960 --> 02:19:13.870 align:start position:0% up about a year later after what several<02:19:12.439> years<02:19:12.529> after<02:19:12.830> happen<02:19:13.399> even<02:19:13.490> appear 02:19:13.870 --> 02:19:13.880 align:start position:0% several years after happen even appear 02:19:13.880 --> 02:19:15.879 align:start position:0% several years after happen even appear after<02:19:14.000> as<02:19:14.660> he<02:19:14.870> catch<02:19:15.080> the<02:19:15.109> protocol<02:19:15.740> that 02:19:15.879 --> 02:19:15.889 align:start position:0% after as he catch the protocol that 02:19:15.889 --> 02:19:18.429 align:start position:0% after as he catch the protocol that launched<02:19:16.519> and<02:19:17.330> we're<02:19:17.750> a<02:19:17.779> nonprofit<02:19:18.019> that 02:19:18.429 --> 02:19:18.439 align:start position:0% launched and we're a nonprofit that 02:19:18.439 --> 02:19:22.120 align:start position:0% launched and we're a nonprofit that answers<02:19:18.800> to<02:19:18.859> our<02:19:19.460> board<02:19:19.849> an<02:19:20.059> issue<02:19:20.979> and<02:19:21.979> we 02:19:22.120 --> 02:19:22.130 align:start position:0% answers to our board an issue and we 02:19:22.130 --> 02:19:24.400 align:start position:0% answers to our board an issue and we both<02:19:22.279> are<02:19:22.639> dedicated<02:19:23.510> primarily<02:19:23.660> to<02:19:24.139> certain 02:19:24.400 --> 02:19:24.410 align:start position:0% both are dedicated primarily to certain 02:19:24.410 --> 02:19:28.599 align:start position:0% both are dedicated primarily to certain see<02:19:24.529> cash<02:19:25.059> so<02:19:26.059> in<02:19:26.420> you<02:19:27.380> know<02:19:27.469> 2019<02:19:28.130> here's<02:19:28.399> kind 02:19:28.599 --> 02:19:28.609 align:start position:0% see cash so in you know 2019 here's kind 02:19:28.609 --> 02:19:31.419 align:start position:0% see cash so in you know 2019 here's kind of<02:19:28.639> a<02:19:28.729> list<02:19:28.969> of<02:19:29.269> where<02:19:29.630> I<02:19:30.050> see<02:19:30.469> the<02:19:30.830> roles<02:19:31.279> and 02:19:31.419 --> 02:19:31.429 align:start position:0% of a list of where I see the roles and 02:19:31.429 --> 02:19:33.280 align:start position:0% of a list of where I see the roles and responsibilities<02:19:32.149> of<02:19:32.179> guilt<02:19:32.929> your<02:19:33.109> coin 02:19:33.280 --> 02:19:33.290 align:start position:0% responsibilities of guilt your coin 02:19:33.290 --> 02:19:35.110 align:start position:0% responsibilities of guilt your coin company<02:19:33.620> on<02:19:33.710> one<02:19:33.889> side<02:19:34.130> and<02:19:34.429> the<02:19:34.819> c-catch 02:19:35.110 --> 02:19:35.120 align:start position:0% company on one side and the c-catch 02:19:35.120 --> 02:19:36.849 align:start position:0% company on one side and the c-catch foundation<02:19:35.599> on<02:19:35.689> the<02:19:35.779> other<02:19:35.929> and<02:19:36.200> where 02:19:36.849 --> 02:19:36.859 align:start position:0% foundation on the other and where 02:19:36.859 --> 02:19:40.320 align:start position:0% foundation on the other and where there's<02:19:37.700> an<02:19:37.880> intersection<02:19:38.149> in<02:19:38.779> between<02:19:39.590> and 02:19:40.320 --> 02:19:40.330 align:start position:0% there's an intersection in between and 02:19:40.330 --> 02:19:43.059 align:start position:0% there's an intersection in between and you<02:19:41.330> know<02:19:41.420> where<02:19:41.599> where<02:19:42.529> this<02:19:42.620> really<02:19:42.859> comes 02:19:43.059 --> 02:19:43.069 align:start position:0% you know where where this really comes 02:19:43.069 --> 02:19:44.620 align:start position:0% you know where where this really comes down<02:19:43.130> to<02:19:43.250> brass<02:19:43.460> tacks<02:19:43.519> in<02:19:43.969> terms<02:19:44.179> of<02:19:44.330> how<02:19:44.569> the 02:19:44.620 --> 02:19:44.630 align:start position:0% down to brass tacks in terms of how the 02:19:44.630 --> 02:19:47.679 align:start position:0% down to brass tacks in terms of how the protocols<02:19:45.170> govern<02:19:45.529> is<02:19:46.000> how<02:19:47.000> the<02:19:47.420> electric 02:19:47.679 --> 02:19:47.689 align:start position:0% protocols govern is how the electric 02:19:47.689 --> 02:19:49.120 align:start position:0% protocols govern is how the electric coin<02:19:47.899> company<02:19:48.109> decides<02:19:48.529> to<02:19:48.680> build<02:19:48.859> and 02:19:49.120 --> 02:19:49.130 align:start position:0% coin company decides to build and 02:19:49.130 --> 02:19:51.099 align:start position:0% coin company decides to build and maintain<02:19:49.250> the<02:19:49.609> note<02:19:49.819> software<02:19:50.359> that<02:19:50.720> users 02:19:51.099 --> 02:19:51.109 align:start position:0% maintain the note software that users 02:19:51.109 --> 02:19:53.860 align:start position:0% maintain the note software that users choose<02:19:51.529> to<02:19:51.830> run<02:19:52.040> how<02:19:53.000> we<02:19:53.359> the<02:19:53.540> c-catch 02:19:53.860 --> 02:19:53.870 align:start position:0% choose to run how we the c-catch 02:19:53.870 --> 02:19:55.990 align:start position:0% choose to run how we the c-catch foundation<02:19:54.439> choose<02:19:55.130> to<02:19:55.460> build<02:19:55.640> our 02:19:55.990 --> 02:19:56.000 align:start position:0% foundation choose to build our 02:19:56.000 --> 02:19:58.150 align:start position:0% foundation choose to build our independent<02:19:56.750> note<02:19:56.870> software<02:19:57.410> that<02:19:57.859> we<02:19:58.100> are 02:19:58.150 --> 02:19:58.160 align:start position:0% independent note software that we are 02:19:58.160 --> 02:20:00.730 align:start position:0% independent note software that we are the<02:19:58.310> process<02:19:58.670> of<02:19:58.790> developing<02:19:59.210> now<02:19:59.529> and<02:20:00.529> then 02:20:00.730 --> 02:20:00.740 align:start position:0% the process of developing now and then 02:20:00.740 --> 02:20:02.690 align:start position:0% the process of developing now and then how<02:20:01.130> we<02:20:01.189> decide<02:20:01.700> to<02:20:01.880> enter 02:20:02.690 --> 02:20:02.700 align:start position:0% how we decide to enter 02:20:02.700 --> 02:20:05.000 align:start position:0% how we decide to enter process<02:20:03.601> which<02:20:03.811> is<02:20:03.931> similar<02:20:04.260> to<02:20:04.290> the<02:20:04.500> myth<02:20:04.710> and 02:20:05.000 --> 02:20:05.010 align:start position:0% process which is similar to the myth and 02:20:05.010 --> 02:20:08.631 align:start position:0% process which is similar to the myth and ent<02:20:05.460> process<02:20:05.910> and<02:20:06.720> how<02:20:07.021> we<02:20:07.160> come<02:20:08.160> together<02:20:08.280> to 02:20:08.631 --> 02:20:08.641 align:start position:0% ent process and how we come together to 02:20:08.641 --> 02:20:11.710 align:start position:0% ent process and how we come together to cite<02:20:08.880> future<02:20:09.330> development<02:20:10.320> on<02:20:10.950> the<02:20:11.101> roadmap 02:20:11.710 --> 02:20:11.720 align:start position:0% cite future development on the roadmap 02:20:11.720 --> 02:20:16.551 align:start position:0% cite future development on the roadmap protocol<02:20:13.311> so<02:20:14.311> what<02:20:14.880> I<02:20:15.110> and<02:20:16.110> this<02:20:16.230> is<02:20:16.351> maybe 02:20:16.551 --> 02:20:16.561 align:start position:0% protocol so what I and this is maybe 02:20:16.561 --> 02:20:18.290 align:start position:0% protocol so what I and this is maybe this<02:20:16.830> is<02:20:16.980> not<02:20:17.130> indicative<02:20:17.670> of<02:20:17.760> everyone<02:20:18.210> in 02:20:18.290 --> 02:20:18.300 align:start position:0% this is not indicative of everyone in 02:20:18.300 --> 02:20:20.600 align:start position:0% this is not indicative of everyone in the<02:20:18.450> Sikh<02:20:19.320> educated<02:20:19.771> necessarily<02:20:20.280> but<02:20:20.370> my 02:20:20.600 --> 02:20:20.610 align:start position:0% the Sikh educated necessarily but my 02:20:20.610 --> 02:20:23.301 align:start position:0% the Sikh educated necessarily but my personal<02:20:21.391> view<02:20:21.690> is<02:20:22.050> that<02:20:22.320> users<02:20:23.040> running 02:20:23.301 --> 02:20:23.311 align:start position:0% personal view is that users running 02:20:23.311 --> 02:20:27.801 align:start position:0% personal view is that users running nodes<02:20:24.080> are<02:20:25.080> the<02:20:25.260> ultimate<02:20:25.710> expression<02:20:26.280> of<02:20:26.811> who 02:20:27.801 --> 02:20:27.811 align:start position:0% nodes are the ultimate expression of who 02:20:27.811 --> 02:20:30.200 align:start position:0% nodes are the ultimate expression of who has<02:20:28.021> power<02:20:28.351> in<02:20:28.620> the<02:20:28.740> system<02:20:29.160> it's<02:20:29.400> really<02:20:29.940> up 02:20:30.200 --> 02:20:30.210 align:start position:0% has power in the system it's really up 02:20:30.210 --> 02:20:33.110 align:start position:0% has power in the system it's really up to<02:20:30.240> users<02:20:31.170> to<02:20:31.200> decide<02:20:31.590> like<02:20:32.340> what<02:20:32.851> kind<02:20:33.061> of 02:20:33.110 --> 02:20:33.120 align:start position:0% to users to decide like what kind of 02:20:33.120 --> 02:20:36.140 align:start position:0% to users to decide like what kind of rules<02:20:33.420> they<02:20:33.601> want<02:20:33.720> to<02:20:33.870> follow<02:20:34.080> and<02:20:34.730> I<02:20:35.730> think<02:20:36.061> it 02:20:36.140 --> 02:20:36.150 align:start position:0% rules they want to follow and I think it 02:20:36.150 --> 02:20:39.410 align:start position:0% rules they want to follow and I think it was<02:20:36.240> most<02:20:36.681> clearly<02:20:37.681> demonstrated<02:20:37.970> in<02:20:38.970> the 02:20:39.410 --> 02:20:39.420 align:start position:0% was most clearly demonstrated in the 02:20:39.420 --> 02:20:45.591 align:start position:0% was most clearly demonstrated in the Atlanta<02:20:40.290> SF<02:20:42.470> situation<02:20:43.470> in<02:20:43.590> 2017<02:20:44.280> so<02:20:44.610> in 02:20:45.591 --> 02:20:45.601 align:start position:0% Atlanta SF situation in 2017 so in 02:20:45.601 --> 02:20:49.011 align:start position:0% Atlanta SF situation in 2017 so in essence<02:20:46.050> the<02:20:46.290> most<02:20:46.590> like<02:20:46.891> real<02:20:47.750> impact<02:20:48.750> that 02:20:49.011 --> 02:20:49.021 align:start position:0% essence the most like real impact that 02:20:49.021 --> 02:20:51.980 align:start position:0% essence the most like real impact that we<02:20:49.380> have<02:20:49.410> the<02:20:49.650> foundation<02:20:49.800> have<02:20:50.521> in<02:20:51.420> terms<02:20:51.811> of 02:20:51.980 --> 02:20:51.990 align:start position:0% we have the foundation have in terms of 02:20:51.990 --> 02:20:54.890 align:start position:0% we have the foundation have in terms of governance<02:20:52.351> is<02:20:52.681> attached<02:20:52.980> protocol<02:20:53.580> is<02:20:54.480> in 02:20:54.890 --> 02:20:54.900 align:start position:0% governance is attached protocol is in 02:20:54.900 --> 02:20:58.881 align:start position:0% governance is attached protocol is in our<02:20:55.050> ability<02:20:55.771> to<02:20:56.420> build<02:20:57.420> and<02:20:57.931> maintain<02:20:58.110> a 02:20:58.881 --> 02:20:58.891 align:start position:0% our ability to build and maintain a 02:20:58.891 --> 02:21:00.140 align:start position:0% our ability to build and maintain a consensus<02:20:59.460> we've<02:20:59.610> had<02:20:59.790> one<02:20:59.970> note 02:21:00.140 --> 02:21:00.150 align:start position:0% consensus we've had one note 02:21:00.150 --> 02:21:03.051 align:start position:0% consensus we've had one note implementation<02:21:01.010> for<02:21:02.010> a<02:21:02.070> physiatrist<02:21:02.460> deck 02:21:03.051 --> 02:21:03.061 align:start position:0% implementation for a physiatrist deck 02:21:03.061 --> 02:21:09.120 align:start position:0% implementation for a physiatrist deck what<02:21:03.271> we're<02:21:03.391> doing<02:21:03.601> with 02:21:09.120 --> 02:21:09.130 align:start position:0% 02:21:09.130 --> 02:21:12.210 align:start position:0% and<02:21:10.119> what<02:21:10.540> does<02:21:10.630> that<02:21:10.659> mean<02:21:11.080> for<02:21:11.439> sort<02:21:12.130> of<02:21:12.159> the 02:21:12.210 --> 02:21:12.220 align:start position:0% and what does that mean for sort of the 02:21:12.220 --> 02:21:18.240 align:start position:0% and what does that mean for sort of the sip<02:21:12.430> process<02:21:12.880> tomorrow<02:21:15.930> so<02:21:16.930> right<02:21:17.710> now<02:21:17.890> it<02:21:18.220> is 02:21:18.240 --> 02:21:18.250 align:start position:0% sip process tomorrow so right now it is 02:21:18.250 --> 02:21:20.219 align:start position:0% sip process tomorrow so right now it is impressive<02:21:18.760> today<02:21:18.880> for<02:21:19.300> all<02:21:19.449> intents<02:21:20.140> and 02:21:20.219 --> 02:21:20.229 align:start position:0% impressive today for all intents and 02:21:20.229 --> 02:21:23.820 align:start position:0% impressive today for all intents and purposes<02:21:20.710> you<02:21:21.689> know<02:21:22.689> we<02:21:22.840> we<02:21:23.170> do<02:21:23.350> have<02:21:23.560> there 02:21:23.820 --> 02:21:23.830 align:start position:0% purposes you know we we do have there 02:21:23.830 --> 02:21:25.740 align:start position:0% purposes you know we we do have there are<02:21:24.010> only<02:21:24.159> an<02:21:24.550> editor<02:21:25.000> of<02:21:25.029> this<02:21:25.239> oppresses 02:21:25.740 --> 02:21:25.750 align:start position:0% are only an editor of this oppresses 02:21:25.750 --> 02:21:27.300 align:start position:0% are only an editor of this oppresses that's<02:21:25.930> represented<02:21:26.500> by<02:21:26.529> the<02:21:26.619> foundation<02:21:27.100> but 02:21:27.300 --> 02:21:27.310 align:start position:0% that's represented by the foundation but 02:21:27.310 --> 02:21:29.580 align:start position:0% that's represented by the foundation but ultimately<02:21:27.810> you<02:21:28.810> know<02:21:28.899> whatever<02:21:29.170> the 02:21:29.580 --> 02:21:29.590 align:start position:0% ultimately you know whatever the 02:21:29.590 --> 02:21:31.290 align:start position:0% ultimately you know whatever the electric<02:21:29.979> point<02:21:30.069> company<02:21:30.520> decides<02:21:30.909> to 02:21:31.290 --> 02:21:31.300 align:start position:0% electric point company decides to 02:21:31.300 --> 02:21:34.800 align:start position:0% electric point company decides to integrate<02:21:31.750> it<02:21:31.840> into<02:21:32.290> CRT<02:21:32.890> is<02:21:33.880> pretty<02:21:34.659> much 02:21:34.800 --> 02:21:34.810 align:start position:0% integrate it into CRT is pretty much 02:21:34.810 --> 02:21:37.849 align:start position:0% integrate it into CRT is pretty much what<02:21:35.290> winds<02:21:35.859> up<02:21:35.979> defining<02:21:36.670> the<02:21:36.909> product<02:21:37.210> line 02:21:37.849 --> 02:21:37.859 align:start position:0% what winds up defining the product line 02:21:37.859 --> 02:21:39.780 align:start position:0% what winds up defining the product line there's<02:21:38.859> a<02:21:38.949> wrinkle<02:21:39.130> to<02:21:39.310> this<02:21:39.399> that<02:21:39.580> I'll<02:21:39.670> get 02:21:39.780 --> 02:21:39.790 align:start position:0% there's a wrinkle to this that I'll get 02:21:39.790 --> 02:21:42.599 align:start position:0% there's a wrinkle to this that I'll get into<02:21:39.850> about<02:21:40.630> trademarks<02:21:41.260> but<02:21:41.500> for<02:21:41.949> for<02:21:42.430> at 02:21:42.599 --> 02:21:42.609 align:start position:0% into about trademarks but for for at 02:21:42.609 --> 02:21:44.189 align:start position:0% into about trademarks but for for at least<02:21:42.729> on<02:21:42.970> the<02:21:43.090> on<02:21:43.390> the<02:21:43.510> pure<02:21:43.750> developments 02:21:44.189 --> 02:21:44.199 align:start position:0% least on the on the pure developments 02:21:44.199 --> 02:21:46.260 align:start position:0% least on the on the pure developments that<02:21:44.290> that<02:21:44.560> is<02:21:44.830> what<02:21:45.100> that<02:21:45.850> is<02:21:45.880> what<02:21:46.090> matters 02:21:46.260 --> 02:21:46.270 align:start position:0% that that is what that is what matters 02:21:46.270 --> 02:21:49.920 align:start position:0% that that is what that is what matters and<02:21:46.569> firm<02:21:47.290> you<02:21:47.920> know<02:21:48.029> from<02:21:49.029> the<02:21:49.810> beginning 02:21:49.920 --> 02:21:49.930 align:start position:0% and firm you know from the beginning 02:21:49.930 --> 02:21:52.410 align:start position:0% and firm you know from the beginning till<02:21:50.380> now<02:21:50.409> a<02:21:50.979> lot<02:21:51.520> of<02:21:51.609> that<02:21:51.699> process<02:21:52.119> has<02:21:52.270> been 02:21:52.410 --> 02:21:52.420 align:start position:0% till now a lot of that process has been 02:21:52.420 --> 02:21:55.769 align:start position:0% till now a lot of that process has been kind<02:21:52.840> of<02:21:52.960> opaque<02:21:53.380> and<02:21:54.130> it's<02:21:54.420> etiquette<02:21:55.420> lesson 02:21:55.769 --> 02:21:55.779 align:start position:0% kind of opaque and it's etiquette lesson 02:21:55.779 --> 02:21:57.179 align:start position:0% kind of opaque and it's etiquette lesson needed<02:21:56.050> to<02:21:56.140> be<02:21:56.290> more<02:21:56.439> open<02:21:56.739> because<02:21:56.890> it's 02:21:57.179 --> 02:21:57.189 align:start position:0% needed to be more open because it's 02:21:57.189 --> 02:21:58.920 align:start position:0% needed to be more open because it's really<02:21:57.399> been<02:21:57.640> more<02:21:58.000> about<02:21:58.180> like<02:21:58.420> technocratic 02:21:58.920 --> 02:21:58.930 align:start position:0% really been more about like technocratic 02:21:58.930 --> 02:22:01.889 align:start position:0% really been more about like technocratic decisions<02:21:59.560> being<02:21:59.800> made<02:21:59.920> about<02:22:00.750> things<02:22:01.750> like 02:22:01.889 --> 02:22:01.899 align:start position:0% decisions being made about things like 02:22:01.899 --> 02:22:05.760 align:start position:0% decisions being made about things like privacy<02:22:02.529> prudence<02:22:02.949> exactly<02:22:04.229> so<02:22:05.229> we're<02:22:05.529> going 02:22:05.760 --> 02:22:05.770 align:start position:0% privacy prudence exactly so we're going 02:22:05.770 --> 02:22:08.189 align:start position:0% privacy prudence exactly so we're going to<02:22:05.949> go<02:22:06.340> in<02:22:06.489> the<02:22:06.580> future<02:22:07.029> is<02:22:07.300> there's<02:22:07.840> going<02:22:08.080> to 02:22:08.189 --> 02:22:08.199 align:start position:0% to go in the future is there's going to 02:22:08.199 --> 02:22:10.500 align:start position:0% to go in the future is there's going to be<02:22:08.350> this<02:22:08.770> mutually<02:22:09.489> kind<02:22:09.729> of<02:22:09.819> selective 02:22:10.500 --> 02:22:10.510 align:start position:0% be this mutually kind of selective 02:22:10.510 --> 02:22:14.070 align:start position:0% be this mutually kind of selective process<02:22:10.899> about<02:22:11.140> what<02:22:12.239> ECC<02:22:13.239> decides<02:22:13.569> to<02:22:13.720> XE 02:22:14.070 --> 02:22:14.080 align:start position:0% process about what ECC decides to XE 02:22:14.080 --> 02:22:16.229 align:start position:0% process about what ECC decides to XE catch<02:22:14.290> da<02:22:14.500> what<02:22:14.680> we<02:22:14.859> decide<02:22:15.189> to<02:22:15.220> add<02:22:15.520> to<02:22:15.850> zebra 02:22:16.229 --> 02:22:16.239 align:start position:0% catch da what we decide to add to zebra 02:22:16.239 --> 02:22:18.240 align:start position:0% catch da what we decide to add to zebra and<02:22:16.510> then<02:22:16.720> there's<02:22:17.170> a<02:22:17.260> mutual<02:22:17.529> upgrade<02:22:18.069> to 02:22:18.240 --> 02:22:18.250 align:start position:0% and then there's a mutual upgrade to 02:22:18.250 --> 02:22:22.740 align:start position:0% and then there's a mutual upgrade to sort<02:22:18.430> of<02:22:18.520> network<02:22:20.729> so<02:22:21.729> this<02:22:21.880> is<02:22:22.029> how<02:22:22.180> you<02:22:22.659> know 02:22:22.740 --> 02:22:22.750 align:start position:0% sort of network so this is how you know 02:22:22.750 --> 02:22:25.740 align:start position:0% sort of network so this is how you know we<02:22:23.050> keep<02:22:23.710> that<02:22:23.920> band<02:22:24.250> together<02:22:24.460> there's<02:22:25.119> the 02:22:25.740 --> 02:22:25.750 align:start position:0% we keep that band together there's the 02:22:25.750 --> 02:22:28.320 align:start position:0% we keep that band together there's the power<02:22:26.500> of<02:22:26.680> the<02:22:26.890> actual<02:22:27.399> power<02:22:27.609> of<02:22:27.850> users<02:22:28.180> to 02:22:28.320 --> 02:22:28.330 align:start position:0% power of the actual power of users to 02:22:28.330 --> 02:22:32.429 align:start position:0% power of the actual power of users to run<02:22:28.449> nodes<02:22:28.750> on<02:22:29.739> one<02:22:30.340> side<02:22:30.609> is<02:22:30.970> the<02:22:31.439> that 02:22:32.429 --> 02:22:32.439 align:start position:0% run nodes on one side is the that 02:22:32.439 --> 02:22:33.960 align:start position:0% run nodes on one side is the that plausible<02:22:32.710> threat<02:22:33.100> of<02:22:33.279> an<02:22:33.369> intentional<02:22:33.729> chain 02:22:33.960 --> 02:22:33.970 align:start position:0% plausible threat of an intentional chain 02:22:33.970 --> 02:22:35.399 align:start position:0% plausible threat of an intentional chain split<02:22:34.270> but<02:22:34.479> there's<02:22:34.659> this<02:22:34.779> other<02:22:34.960> legal 02:22:35.399 --> 02:22:35.409 align:start position:0% split but there's this other legal 02:22:35.409 --> 02:22:38.059 align:start position:0% split but there's this other legal enforcement<02:22:35.649> mechanism<02:22:36.609> with<02:22:37.510> the<02:22:37.540> trademark 02:22:38.059 --> 02:22:38.069 align:start position:0% enforcement mechanism with the trademark 02:22:38.069 --> 02:22:41.880 align:start position:0% enforcement mechanism with the trademark which<02:22:39.069> is<02:22:39.250> basically<02:22:39.640> the<02:22:40.140> right<02:22:41.140> now<02:22:41.350> the 02:22:41.880 --> 02:22:41.890 align:start position:0% which is basically the right now the 02:22:41.890 --> 02:22:44.189 align:start position:0% which is basically the right now the trademark<02:22:42.250> is<02:22:42.399> fully<02:22:42.670> owned<02:22:42.880> by<02:22:43.060> ECC<02:22:43.689> but 02:22:44.189 --> 02:22:44.199 align:start position:0% trademark is fully owned by ECC but 02:22:44.199 --> 02:22:47.729 align:start position:0% trademark is fully owned by ECC but there<02:22:44.529> is<02:22:44.770> this<02:22:46.380> there's<02:22:47.380> a<02:22:47.470> current 02:22:47.729 --> 02:22:47.739 align:start position:0% there is this there's a current 02:22:47.739 --> 02:22:49.290 align:start position:0% there is this there's a current agreement<02:22:48.279> that's<02:22:48.369> being<02:22:48.550> negotiated<02:22:48.670> in 02:22:49.290 --> 02:22:49.300 align:start position:0% agreement that's being negotiated in 02:22:49.300 --> 02:22:52.550 align:start position:0% agreement that's being negotiated in order<02:22:49.600> to<02:22:49.750> give<02:22:50.080> both<02:22:50.859> the<02:22:51.340> ECC 02:22:52.550 --> 02:22:52.560 align:start position:0% order to give both the ECC 02:22:52.560 --> 02:22:55.729 align:start position:0% order to give both the ECC easy<02:22:52.949> cash<02:22:53.220> foundation<02:22:53.880> power<02:22:54.720> deciding<02:22:55.409> what 02:22:55.729 --> 02:22:55.739 align:start position:0% easy cash foundation power deciding what 02:22:55.739 --> 02:22:57.290 align:start position:0% easy cash foundation power deciding what represents<02:22:56.369> its<02:22:56.489> in<02:22:56.609> cash<02:22:56.790> from<02:22:56.909> a<02:22:57.000> legal 02:22:57.290 --> 02:22:57.300 align:start position:0% represents its in cash from a legal 02:22:57.300 --> 02:23:01.969 align:start position:0% represents its in cash from a legal perspective<02:22:59.510> so<02:23:00.510> this<02:23:00.930> is<02:23:01.140> a<02:23:01.170> little<02:23:01.439> snippet 02:23:01.969 --> 02:23:01.979 align:start position:0% perspective so this is a little snippet 02:23:01.979 --> 02:23:04.280 align:start position:0% perspective so this is a little snippet we<02:23:02.460> actually<02:23:03.119> wound<02:23:03.329> up<02:23:03.479> Tulane<02:23:03.869> they 02:23:04.280 --> 02:23:04.290 align:start position:0% we actually wound up Tulane they 02:23:04.290 --> 02:23:06.649 align:start position:0% we actually wound up Tulane they whatever<02:23:05.220> talking<02:23:05.819> about<02:23:05.939> of<02:23:06.029> a<02:23:06.090> second<02:23:06.510> a 02:23:06.649 --> 02:23:06.659 align:start position:0% whatever talking about of a second a 02:23:06.659 --> 02:23:08.120 align:start position:0% whatever talking about of a second a community<02:23:07.229> center<02:23:07.409> the<02:23:07.500> collection<02:23:07.920> because 02:23:08.120 --> 02:23:08.130 align:start position:0% community center the collection because 02:23:08.130 --> 02:23:10.760 align:start position:0% community center the collection because there<02:23:08.609> was<02:23:08.760> disagreement<02:23:09.060> with<02:23:09.659> ECC<02:23:10.319> about 02:23:10.760 --> 02:23:10.770 align:start position:0% there was disagreement with ECC about 02:23:10.770 --> 02:23:13.460 align:start position:0% there was disagreement with ECC about moving<02:23:11.579> forward<02:23:11.939> on<02:23:12.119> the<02:23:12.210> trademark<02:23:12.720> and<02:23:13.319> this 02:23:13.460 --> 02:23:13.470 align:start position:0% moving forward on the trademark and this 02:23:13.470 --> 02:23:14.990 align:start position:0% moving forward on the trademark and this is<02:23:13.590> like<02:23:13.739> one<02:23:13.949> of<02:23:13.979> the<02:23:14.100> most<02:23:14.220> important<02:23:14.760> things 02:23:14.990 --> 02:23:15.000 align:start position:0% is like one of the most important things 02:23:15.000 --> 02:23:16.130 align:start position:0% is like one of the most important things that<02:23:15.149> we<02:23:15.359> could<02:23:15.510> have<02:23:15.600> done<02:23:15.720> it<02:23:15.869> because<02:23:16.109> a 02:23:16.130 --> 02:23:16.140 align:start position:0% that we could have done it because a 02:23:16.140 --> 02:23:18.590 align:start position:0% that we could have done it because a foundation<02:23:16.739> in<02:23:17.189> order<02:23:17.369> to<02:23:17.640> legitimize<02:23:18.029> the 02:23:18.590 --> 02:23:18.600 align:start position:0% foundation in order to legitimize the 02:23:18.600 --> 02:23:20.719 align:start position:0% foundation in order to legitimize the process<02:23:19.140> by<02:23:19.649> which<02:23:19.680> we<02:23:20.040> go<02:23:20.159> through<02:23:20.399> future 02:23:20.719 --> 02:23:20.729 align:start position:0% process by which we go through future 02:23:20.729 --> 02:23:22.639 align:start position:0% process by which we go through future upgrades<02:23:21.180> and<02:23:21.420> right<02:23:21.810> now<02:23:22.020> the<02:23:22.079> reason<02:23:22.500> this 02:23:22.639 --> 02:23:22.649 align:start position:0% upgrades and right now the reason this 02:23:22.649 --> 02:23:24.410 align:start position:0% upgrades and right now the reason this is<02:23:22.770> such<02:23:22.920> a<02:23:22.979> hot-button<02:23:23.220> issue<02:23:23.550> is<02:23:23.819> we're<02:23:24.329> in 02:23:24.410 --> 02:23:24.420 align:start position:0% is such a hot-button issue is we're in 02:23:24.420 --> 02:23:26.149 align:start position:0% is such a hot-button issue is we're in the<02:23:24.510> process<02:23:24.720> of<02:23:25.109> discussing<02:23:25.500> in<02:23:25.800> the<02:23:25.890> future 02:23:26.149 --> 02:23:26.159 align:start position:0% the process of discussing in the future 02:23:26.159 --> 02:23:28.819 align:start position:0% the process of discussing in the future of<02:23:26.220> dev<02:23:26.399> fund<02:23:26.720> for<02:23:27.720> the<02:23:27.989> basically<02:23:28.710> an 02:23:28.819 --> 02:23:28.829 align:start position:0% of dev fund for the basically an 02:23:28.829 --> 02:23:31.880 align:start position:0% of dev fund for the basically an extension<02:23:29.069> of<02:23:29.460> the<02:23:29.579> Founders<02:23:29.880> Award<02:23:30.079> and<02:23:31.079> who 02:23:31.880 --> 02:23:31.890 align:start position:0% extension of the Founders Award and who 02:23:31.890 --> 02:23:33.469 align:start position:0% extension of the Founders Award and who would<02:23:32.040> stand<02:23:32.310> and<02:23:32.430> benefit<02:23:32.850> from<02:23:33.029> that<02:23:33.210> sort 02:23:33.469 --> 02:23:33.479 align:start position:0% would stand and benefit from that sort 02:23:33.479 --> 02:23:36.050 align:start position:0% would stand and benefit from that sort of<02:23:33.829> awarding<02:23:34.829> me<02:23:35.069> the<02:23:35.279> foundation<02:23:35.550> I<02:23:35.850> want<02:23:36.000> to 02:23:36.050 --> 02:23:36.060 align:start position:0% of awarding me the foundation I want to 02:23:36.060 --> 02:23:37.490 align:start position:0% of awarding me the foundation I want to make<02:23:36.149> sure<02:23:36.180> that<02:23:36.420> that<02:23:36.510> city<02:23:36.869> is<02:23:37.020> being<02:23:37.229> made 02:23:37.490 --> 02:23:37.500 align:start position:0% make sure that that city is being made 02:23:37.500 --> 02:23:43.069 align:start position:0% make sure that that city is being made with<02:23:38.130> the<02:23:38.250> degree<02:23:38.579> of<02:23:38.779> legitimacy<02:23:39.779> of<02:23:40.229> hair<02:23:42.079> so 02:23:43.069 --> 02:23:43.079 align:start position:0% with the degree of legitimacy of hair so 02:23:43.079 --> 02:23:46.010 align:start position:0% with the degree of legitimacy of hair so just<02:23:44.000> going<02:23:45.000> into<02:23:45.239> like<02:23:45.390> how<02:23:45.569> we'll<02:23:45.869> decide 02:23:46.010 --> 02:23:46.020 align:start position:0% just going into like how we'll decide 02:23:46.020 --> 02:23:48.469 align:start position:0% just going into like how we'll decide what<02:23:46.710> we're<02:23:46.859> gonna<02:23:46.920> put<02:23:47.130> into<02:23:47.369> zebra<02:23:47.729> there's 02:23:48.469 --> 02:23:48.479 align:start position:0% what we're gonna put into zebra there's 02:23:48.479 --> 02:23:51.260 align:start position:0% what we're gonna put into zebra there's not<02:23:48.750> my<02:23:48.899> personal<02:23:49.260> ones<02:23:49.670> and<02:23:50.670> everything 02:23:51.260 --> 02:23:51.270 align:start position:0% not my personal ones and everything 02:23:51.270 --> 02:23:53.000 align:start position:0% not my personal ones and everything ultimately<02:23:51.510> escalates<02:23:52.350> to<02:23:52.560> the<02:23:52.649> board<02:23:52.859> of<02:23:52.949> the 02:23:53.000 --> 02:23:53.010 align:start position:0% ultimately escalates to the board of the 02:23:53.010 --> 02:23:56.179 align:start position:0% ultimately escalates to the board of the foundation<02:23:54.439> but<02:23:55.439> the<02:23:55.710> board<02:23:55.949> to<02:23:56.069> these 02:23:56.179 --> 02:23:56.189 align:start position:0% foundation but the board to these 02:23:56.189 --> 02:23:57.800 align:start position:0% foundation but the board to these valuable<02:23:56.699> feedback<02:23:56.939> and<02:23:57.329> this<02:23:57.479> is<02:23:57.630> that 02:23:57.800 --> 02:23:57.810 align:start position:0% valuable feedback and this is that 02:23:57.810 --> 02:23:59.569 align:start position:0% valuable feedback and this is that community<02:23:58.260> sentiment<02:23:58.739> process<02:23:59.159> that<02:23:59.399> they 02:23:59.569 --> 02:23:59.579 align:start position:0% community sentiment process that they 02:23:59.579 --> 02:24:02.090 align:start position:0% community sentiment process that they were<02:23:59.640> talking<02:24:00.060> about<02:24:00.149> earlier<02:24:00.800> and<02:24:01.800> that<02:24:01.829> that 02:24:02.090 --> 02:24:02.100 align:start position:0% were talking about earlier and that that 02:24:02.100 --> 02:24:03.920 align:start position:0% were talking about earlier and that that I<02:24:02.130> mentioned<02:24:02.819> that<02:24:02.850> like<02:24:03.119> very<02:24:03.149> very<02:24:03.510> briefly 02:24:03.920 --> 02:24:03.930 align:start position:0% I mentioned that like very very briefly 02:24:03.930 --> 02:24:05.780 align:start position:0% I mentioned that like very very briefly with<02:24:04.590> the<02:24:04.649> idea<02:24:04.979> that<02:24:05.040> there<02:24:05.279> are<02:24:05.340> many<02:24:05.609> ways 02:24:05.780 --> 02:24:05.790 align:start position:0% with the idea that there are many ways 02:24:05.790 --> 02:24:08.300 align:start position:0% with the idea that there are many ways that<02:24:06.029> we<02:24:06.149> can<02:24:06.300> collect<02:24:06.720> the<02:24:06.779> kind<02:24:07.020> of<02:24:07.170> both<02:24:08.010> on 02:24:08.300 --> 02:24:08.310 align:start position:0% that we can collect the kind of both on 02:24:08.310 --> 02:24:10.130 align:start position:0% that we can collect the kind of both on chain<02:24:08.640> and<02:24:08.850> watch-chain<02:24:09.239> sentiment<02:24:09.869> that<02:24:09.989> can 02:24:10.130 --> 02:24:10.140 align:start position:0% chain and watch-chain sentiment that can 02:24:10.140 --> 02:24:11.660 align:start position:0% chain and watch-chain sentiment that can then<02:24:10.290> be<02:24:10.439> used<02:24:10.470> to<02:24:10.829> and<02:24:11.250> the<02:24:11.369> Board's<02:24:11.640> decision 02:24:11.660 --> 02:24:11.670 align:start position:0% then be used to and the Board's decision 02:24:11.670 --> 02:24:13.880 align:start position:0% then be used to and the Board's decision but<02:24:12.510> we<02:24:12.630> make<02:24:12.779> no<02:24:12.899> mistake<02:24:13.260> that<02:24:13.290> ultimately 02:24:13.880 --> 02:24:13.890 align:start position:0% but we make no mistake that ultimately 02:24:13.890 --> 02:24:16.309 align:start position:0% but we make no mistake that ultimately like<02:24:14.609> whatever<02:24:15.180> gets<02:24:15.449> decided<02:24:15.810> about<02:24:16.079> what 02:24:16.309 --> 02:24:16.319 align:start position:0% like whatever gets decided about what 02:24:16.319 --> 02:24:17.960 align:start position:0% like whatever gets decided about what the<02:24:16.439> foundation<02:24:16.800> decides<02:24:17.279> to<02:24:17.430> put<02:24:17.609> in<02:24:17.819> its 02:24:17.960 --> 02:24:17.970 align:start position:0% the foundation decides to put in its 02:24:17.970 --> 02:24:21.380 align:start position:0% the foundation decides to put in its software<02:24:18.300> is<02:24:18.600> going<02:24:18.869> to<02:24:18.989> be<02:24:19.140> decided<02:24:19.859> by<02:24:20.390> by 02:24:21.380 --> 02:24:21.390 align:start position:0% software is going to be decided by by 02:24:21.390 --> 02:24:23.479 align:start position:0% software is going to be decided by by the<02:24:21.449> board<02:24:21.750> and<02:24:22.439> I<02:24:22.529> suspect<02:24:22.979> that<02:24:23.040> it<02:24:23.159> won't<02:24:23.340> go 02:24:23.479 --> 02:24:23.489 align:start position:0% the board and I suspect that it won't go 02:24:23.489 --> 02:24:25.160 align:start position:0% the board and I suspect that it won't go against<02:24:23.760> what<02:24:23.939> we<02:24:24.090> view<02:24:24.149> to<02:24:24.420> be<02:24:24.569> community 02:24:25.160 --> 02:24:25.170 align:start position:0% against what we view to be community 02:24:25.170 --> 02:24:26.899 align:start position:0% against what we view to be community consensus<02:24:25.680> but<02:24:25.890> that's<02:24:26.100> ultimately<02:24:26.489> where 02:24:26.899 --> 02:24:26.909 align:start position:0% consensus but that's ultimately where 02:24:26.909 --> 02:24:29.090 align:start position:0% consensus but that's ultimately where where<02:24:27.420> that<02:24:27.540> power<02:24:27.750> lies<02:24:28.109> users<02:24:28.619> can<02:24:28.829> still 02:24:29.090 --> 02:24:29.100 align:start position:0% where that power lies users can still 02:24:29.100 --> 02:24:32.359 align:start position:0% where that power lies users can still have<02:24:29.760> the<02:24:29.880> power<02:24:30.060> to<02:24:30.390> fork<02:24:30.720> away<02:24:31.170> and<02:24:31.920> and 02:24:32.359 --> 02:24:32.369 align:start position:0% have the power to fork away and and 02:24:32.369 --> 02:24:38.750 align:start position:0% have the power to fork away and and choose<02:24:33.000> to<02:24:33.739> and<02:24:34.739> choose<02:24:35.010> to<02:24:35.250> operate<02:24:37.760> and 02:24:38.750 --> 02:24:38.760 align:start position:0% choose to and choose to operate and 02:24:38.760 --> 02:24:40.670 align:start position:0% choose to and choose to operate and potentially<02:24:39.359> needed<02:24:39.720> sort<02:24:39.899> of<02:24:39.960> a<02:24:40.079> you<02:24:40.199> ASM 02:24:40.670 --> 02:24:40.680 align:start position:0% potentially needed sort of a you ASM 02:24:40.680 --> 02:24:44.450 align:start position:0% potentially needed sort of a you ASM style<02:24:40.979> new<02:24:41.220> verb<02:24:41.460> but<02:24:43.220> you<02:24:44.220> know<02:24:44.310> ultimately 02:24:44.450 --> 02:24:44.460 align:start position:0% style new verb but you know ultimately 02:24:44.460 --> 02:24:46.309 align:start position:0% style new verb but you know ultimately there's<02:24:44.970> this<02:24:45.119> trademark<02:24:45.540> issue<02:24:45.779> that<02:24:46.079> that 02:24:46.309 --> 02:24:46.319 align:start position:0% there's this trademark issue that that 02:24:46.319 --> 02:24:48.080 align:start position:0% there's this trademark issue that that makes<02:24:46.529> it<02:24:46.680> harder<02:24:47.040> to<02:24:47.159> do<02:24:47.340> that<02:24:47.369> and<02:24:47.699> thus 02:24:48.080 --> 02:24:48.090 align:start position:0% makes it harder to do that and thus 02:24:48.090 --> 02:24:53.090 align:start position:0% makes it harder to do that and thus really<02:24:49.020> I<02:24:49.529> think<02:24:49.770> I<02:24:50.670> think<02:24:51.210> kind<02:24:51.540> of<02:24:52.100> compels 02:24:53.090 --> 02:24:53.100 align:start position:0% really I think I think kind of compels 02:24:53.100 --> 02:24:55.490 align:start position:0% really I think I think kind of compels both<02:24:53.399> PCC<02:24:54.060> and<02:24:54.300> the<02:24:54.479> C<02:24:54.600> cash<02:24:54.779> foundation<02:24:55.350> to 02:24:55.490 --> 02:24:55.500 align:start position:0% both PCC and the C cash foundation to 02:24:55.500 --> 02:24:57.229 align:start position:0% both PCC and the C cash foundation to deny<02:24:55.800> entry<02:24:55.979> to<02:24:56.220> some<02:24:56.489> kind<02:24:56.699> of<02:24:56.729> consensus 02:24:57.229 --> 02:24:57.239 align:start position:0% deny entry to some kind of consensus 02:24:57.239 --> 02:25:01.429 align:start position:0% deny entry to some kind of consensus about<02:24:57.329> work<02:24:57.659> oh<02:24:59.600> okay<02:25:00.600> actually<02:25:00.810> I<02:25:00.989> mean<02:25:01.199> it<02:25:01.350> in 02:25:01.429 --> 02:25:01.439 align:start position:0% about work oh okay actually I mean it in 02:25:01.439 --> 02:25:02.109 align:start position:0% about work oh okay actually I mean it in time 02:25:02.109 --> 02:25:02.119 align:start position:0% time 02:25:02.119 --> 02:25:05.149 align:start position:0% time I<02:25:03.119> worried<02:25:03.869> there<02:25:04.079> was<02:25:04.290> pressure<02:25:04.739> but<02:25:04.949> anyway 02:25:05.149 --> 02:25:05.159 align:start position:0% I worried there was pressure but anyway 02:25:05.159 --> 02:25:07.250 align:start position:0% I worried there was pressure but anyway thank<02:25:05.699> you<02:25:05.729> everybody<02:25:06.029> that<02:25:06.420> that<02:25:06.750> wasn't<02:25:06.989> me 02:25:07.250 --> 02:25:07.260 align:start position:0% thank you everybody that that wasn't me 02:25:07.260 --> 02:25:09.679 align:start position:0% thank you everybody that that wasn't me kind<02:25:07.619> of<02:25:07.680> trying<02:25:07.949> to<02:25:08.010> blitz<02:25:08.939> through<02:25:09.149> that<02:25:09.390> but 02:25:09.679 --> 02:25:09.689 align:start position:0% kind of trying to blitz through that but 02:25:09.689 --> 02:25:11.450 align:start position:0% kind of trying to blitz through that but there's<02:25:09.960> there's<02:25:10.770> a<02:25:10.890> lot<02:25:11.040> more<02:25:11.130> that's<02:25:11.279> going 02:25:11.450 --> 02:25:11.460 align:start position:0% there's there's a lot more that's going 02:25:11.460 --> 02:25:13.069 align:start position:0% there's there's a lot more that's going on<02:25:11.640> and<02:25:11.970> there's<02:25:12.390> a<02:25:12.420> cash<02:25:12.689> side<02:25:12.930> I 02:25:13.069 --> 02:25:13.079 align:start position:0% on and there's a cash side I 02:25:13.079 --> 02:25:16.160 align:start position:0% on and there's a cash side I wholeheartedly<02:25:14.270> recommend<02:25:15.270> that<02:25:16.050> if 02:25:16.160 --> 02:25:16.170 align:start position:0% wholeheartedly recommend that if 02:25:16.170 --> 02:25:17.389 align:start position:0% wholeheartedly recommend that if anyone's<02:25:16.500> interested<02:25:16.920> check<02:25:16.979> out<02:25:17.220> some<02:25:17.340> of 02:25:17.389 --> 02:25:17.399 align:start position:0% anyone's interested check out some of 02:25:17.399 --> 02:25:18.979 align:start position:0% anyone's interested check out some of the<02:25:17.460> blog<02:25:17.670> posts<02:25:18.000> that<02:25:18.090> come<02:25:18.270> out<02:25:18.420> they<02:25:18.840> like 02:25:18.979 --> 02:25:18.989 align:start position:0% the blog posts that come out they like 02:25:18.989 --> 02:25:20.750 align:start position:0% the blog posts that come out they like your<02:25:19.140> point<02:25:19.409> company<02:25:19.800> from<02:25:20.340> the<02:25:20.489> sea<02:25:20.609> cash 02:25:20.750 --> 02:25:20.760 align:start position:0% your point company from the sea cash 02:25:20.760 --> 02:25:22.969 align:start position:0% your point company from the sea cash foundation<02:25:21.329> check<02:25:21.600> out<02:25:21.750> Florence<02:25:22.439> Nazi<02:25:22.829> cash 02:25:22.969 --> 02:25:22.979 align:start position:0% foundation check out Florence Nazi cash 02:25:22.979 --> 02:25:25.040 align:start position:0% foundation check out Florence Nazi cash coupon<02:25:23.189> if<02:25:23.819> you<02:25:23.909> want<02:25:24.060> to<02:25:24.149> see<02:25:24.300> a<02:25:24.569> lot<02:25:24.899> of<02:25:24.989> the 02:25:25.040 --> 02:25:25.050 align:start position:0% coupon if you want to see a lot of the 02:25:25.050 --> 02:25:27.500 align:start position:0% coupon if you want to see a lot of the debate<02:25:25.260> about<02:25:25.560> the<02:25:26.040> future<02:25:26.640> dev<02:25:27.239> fund 02:25:27.500 --> 02:25:27.510 align:start position:0% debate about the future dev fund 02:25:27.510 --> 02:25:29.929 align:start position:0% debate about the future dev fund proposals<02:25:28.140> which<02:25:28.770> we're<02:25:29.340> currently<02:25:29.579> in<02:25:29.880> a 02:25:29.929 --> 02:25:29.939 align:start position:0% proposals which we're currently in a 02:25:29.939 --> 02:25:31.099 align:start position:0% proposals which we're currently in a standstill<02:25:30.239> until<02:25:30.449> this<02:25:30.630> tree<02:25:30.899> park 02:25:31.099 --> 02:25:31.109 align:start position:0% standstill until this tree park 02:25:31.109 --> 02:25:32.430 align:start position:0% standstill until this tree park agreement<02:25:31.560> gets 02:25:32.430 --> 02:25:32.440 align:start position:0% agreement gets 02:25:32.440 --> 02:25:35.610 align:start position:0% agreement gets happen<02:25:33.070> very<02:25:33.400> very<02:25:33.610> soon<02:25:34.260> okay<02:25:35.260> thank<02:25:35.530> you 02:25:35.610 --> 02:25:35.620 align:start position:0% happen very very soon okay thank you 02:25:35.620 --> 02:25:37.970 align:start position:0% happen very very soon okay thank you very<02:25:35.891> much 02:25:37.970 --> 02:25:37.980 align:start position:0% very much 02:25:37.980 --> 02:25:40.140 align:start position:0% very much cool<02:25:38.980> so<02:25:39.280> I'm<02:25:39.550> going<02:25:39.730> to<02:25:39.820> talk<02:25:40.000> about 02:25:40.140 --> 02:25:40.150 align:start position:0% cool so I'm going to talk about 02:25:40.150 --> 02:25:43.950 align:start position:0% cool so I'm going to talk about governance<02:25:41.021> obtains<02:25:41.410> so<02:25:42.540> so<02:25:43.540> it<02:25:43.660> Lane<02:25:43.811> asked 02:25:43.950 --> 02:25:43.960 align:start position:0% governance obtains so so it Lane asked 02:25:43.960 --> 02:25:46.020 align:start position:0% governance obtains so so it Lane asked me<02:25:44.050> to<02:25:44.110> be<02:25:44.260> super<02:25:44.680> quick<02:25:44.800> anyway<02:25:45.460> can't<02:25:45.880> you 02:25:46.020 --> 02:25:46.030 align:start position:0% me to be super quick anyway can't you 02:25:46.030 --> 02:25:50.131 align:start position:0% me to be super quick anyway can't you givemea<02:25:46.240> a<02:25:46.630> new<02:25:47.970> research<02:25:48.970> from<02:25:49.540> my<02:25:49.750> city<02:25:49.930> for 02:25:50.131 --> 02:25:50.141 align:start position:0% givemea a new research from my city for 02:25:50.141 --> 02:25:52.801 align:start position:0% givemea a new research from my city for economics<02:25:50.710> and<02:25:50.830> I<02:25:51.610> also<02:25:51.880> built<02:25:52.150> the<02:25:52.450> cosmos 02:25:52.801 --> 02:25:52.811 align:start position:0% economics and I also built the cosmos 02:25:52.811 --> 02:25:55.290 align:start position:0% economics and I also built the cosmos appear<02:25:53.110> in<02:25:53.200> my<02:25:53.320> direction<02:25:53.620> rich<02:25:53.980> people<02:25:54.851> so 02:25:55.290 --> 02:25:55.300 align:start position:0% appear in my direction rich people so 02:25:55.300 --> 02:25:57.091 align:start position:0% appear in my direction rich people so what<02:25:55.450> is<02:25:55.540> governance<02:25:55.900> so<02:25:56.141> governance<02:25:56.680> can<02:25:57.010> be 02:25:57.091 --> 02:25:57.101 align:start position:0% what is governance so governance can be 02:25:57.101 --> 02:25:59.551 align:start position:0% what is governance so governance can be designed<02:25:57.490> if<02:25:57.910> -<02:25:58.330> had<02:25:58.480> the<02:25:58.601> decision-making<02:25:59.290> or 02:25:59.551 --> 02:25:59.561 align:start position:0% designed if - had the decision-making or 02:25:59.561 --> 02:26:00.511 align:start position:0% designed if - had the decision-making or coordinate<02:25:59.920> coordination<02:26:00.370> of<02:26:00.400> multiple 02:26:00.511 --> 02:26:00.521 align:start position:0% coordinate coordination of multiple 02:26:00.521 --> 02:26:02.460 align:start position:0% coordinate coordination of multiple agents<02:26:01.061> so<02:26:01.210> that's<02:26:01.391> what<02:26:01.720> we<02:26:02.141> discussed 02:26:02.460 --> 02:26:02.470 align:start position:0% agents so that's what we discussed 02:26:02.470 --> 02:26:03.810 align:start position:0% agents so that's what we discussed earlier<02:26:02.590> today<02:26:03.101> I'm<02:26:03.430> sure<02:26:03.580> you're<02:26:03.730> familiar 02:26:03.810 --> 02:26:03.820 align:start position:0% earlier today I'm sure you're familiar 02:26:03.820 --> 02:26:06.301 align:start position:0% earlier today I'm sure you're familiar with<02:26:04.740> decision-making<02:26:05.740> can<02:26:05.891> be<02:26:06.040> defined 02:26:06.301 --> 02:26:06.311 align:start position:0% with decision-making can be defined 02:26:06.311 --> 02:26:09.210 align:start position:0% with decision-making can be defined mathematically<02:26:06.880> by<02:26:07.090> just<02:26:07.561> talking<02:26:08.561> about<02:26:08.830> our 02:26:09.210 --> 02:26:09.220 align:start position:0% mathematically by just talking about our 02:26:09.220 --> 02:26:10.440 align:start position:0% mathematically by just talking about our function 02:26:10.440 --> 02:26:10.450 align:start position:0% function 02:26:10.450 --> 02:26:13.230 align:start position:0% function it<02:26:11.290> which<02:26:11.530> maps<02:26:11.860> to<02:26:12.160> a<02:26:12.370> set<02:26:12.550> of<02:26:12.641> outcomes<02:26:12.790> why 02:26:13.230 --> 02:26:13.240 align:start position:0% it which maps to a set of outcomes why 02:26:13.240 --> 02:26:15.060 align:start position:0% it which maps to a set of outcomes why do<02:26:13.300> I<02:26:13.540> beat<02:26:13.780> the<02:26:13.900> desirable<02:26:14.320> Aksum<02:26:14.740> I'm 02:26:15.060 --> 02:26:15.070 align:start position:0% do I beat the desirable Aksum I'm 02:26:15.070 --> 02:26:16.860 align:start position:0% do I beat the desirable Aksum I'm coordination<02:26:15.700> can<02:26:16.030> be<02:26:16.150> defined<02:26:16.480> as<02:26:16.601> among 02:26:16.860 --> 02:26:16.870 align:start position:0% coordination can be defined as among 02:26:16.870 --> 02:26:19.051 align:start position:0% coordination can be defined as among agents<02:26:17.200> just<02:26:17.320> tell<02:26:17.530> me<02:26:17.620> where<02:26:18.061> multiple 02:26:19.051 --> 02:26:19.061 align:start position:0% agents just tell me where multiple 02:26:19.061 --> 02:26:20.820 align:start position:0% agents just tell me where multiple agents<02:26:19.330> have<02:26:19.480> to<02:26:19.570> coordinate<02:26:19.811> in<02:26:20.170> order<02:26:20.710> to 02:26:20.820 --> 02:26:20.830 align:start position:0% agents have to coordinate in order to 02:26:20.830 --> 02:26:25.290 align:start position:0% agents have to coordinate in order to achieve<02:26:20.891> a<02:26:21.340> certain<02:26:21.490> goal<02:26:22.800> cool<02:26:23.830> so<02:26:24.160> um<02:26:24.460> so 02:26:25.290 --> 02:26:25.300 align:start position:0% achieve a certain goal cool so um so 02:26:25.300 --> 02:26:27.480 align:start position:0% achieve a certain goal cool so um so let's<02:26:25.510> say<02:26:25.690> we<02:26:26.110> are<02:26:26.141> playing<02:26:26.440> a<02:26:26.650> very<02:26:26.891> generous 02:26:27.480 --> 02:26:27.490 align:start position:0% let's say we are playing a very generous 02:26:27.490 --> 02:26:30.330 align:start position:0% let's say we are playing a very generous business<02:26:28.120> is<02:26:28.271> our<02:26:28.391> game<02:26:28.680> and<02:26:29.680> the<02:26:29.950> game<02:26:30.101> is 02:26:30.330 --> 02:26:30.340 align:start position:0% business is our game and the game is 02:26:30.340 --> 02:26:33.841 align:start position:0% business is our game and the game is defined<02:26:30.700> as<02:26:31.120> so<02:26:31.510> so<02:26:32.141> the<02:26:33.130> fashion<02:26:33.490> space<02:26:33.641> the 02:26:33.841 --> 02:26:33.851 align:start position:0% defined as so so the fashion space the 02:26:33.851 --> 02:26:35.520 align:start position:0% defined as so so the fashion space the space<02:26:33.910> we<02:26:34.240> cooperate<02:26:34.660> and<02:26:34.811> in<02:26:34.960> fact<02:26:35.110> and<02:26:35.440> the 02:26:35.520 --> 02:26:35.530 align:start position:0% space we cooperate and in fact and the 02:26:35.530 --> 02:26:38.300 align:start position:0% space we cooperate and in fact and the AMD<02:26:35.980> airplane<02:26:36.370> the<02:26:36.521> business 02:26:38.300 --> 02:26:38.310 align:start position:0% AMD airplane the business 02:26:38.310 --> 02:26:40.219 align:start position:0% AMD airplane the business so<02:26:38.850> the<02:26:39.060> Nash<02:26:39.210> equilibrium<02:26:39.810> which<02:26:40.050> is 02:26:40.219 --> 02:26:40.229 align:start position:0% so the Nash equilibrium which is 02:26:40.229 --> 02:26:43.880 align:start position:0% so the Nash equilibrium which is equilibrium<02:26:40.590> and<02:26:41.130> through<02:26:41.490> which<02:26:41.960> the<02:26:42.960> either 02:26:43.880 --> 02:26:43.890 align:start position:0% equilibrium and through which the either 02:26:43.890 --> 02:26:45.770 align:start position:0% equilibrium and through which the either player<02:26:44.280> doesn't<02:26:44.640> have<02:26:44.970> any<02:26:45.180> incentive<02:26:45.450> to 02:26:45.770 --> 02:26:45.780 align:start position:0% player doesn't have any incentive to 02:26:45.780 --> 02:26:49.610 align:start position:0% player doesn't have any incentive to move<02:26:45.930> from<02:26:46.340> its<02:26:47.340> it<02:26:47.640> I<02:26:48.149> defect<02:26:48.510> effect<02:26:48.840> so<02:26:49.200> it's 02:26:49.610 --> 02:26:49.620 align:start position:0% move from its it I defect effect so it's 02:26:49.620 --> 02:26:52.880 align:start position:0% move from its it I defect effect so it's not<02:26:49.770> zero<02:26:50.040> service<02:26:50.370> America<02:26:50.880> job<02:26:51.630> like<02:26:52.590> I<02:26:52.770> mean 02:26:52.880 --> 02:26:52.890 align:start position:0% not zero service America job like I mean 02:26:52.890 --> 02:26:56.150 align:start position:0% not zero service America job like I mean the<02:26:53.069> bottom<02:26:53.250> right<02:26:53.760> corner<02:26:54.000> and<02:26:54.810> it's<02:26:55.710> defined 02:26:56.150 --> 02:26:56.160 align:start position:0% the bottom right corner and it's defined 02:26:56.160 --> 02:26:59.330 align:start position:0% the bottom right corner and it's defined by<02:26:56.370> that<02:26:56.930> by<02:26:57.930> that<02:26:57.960> function<02:26:58.649> right<02:26:58.950> there 02:26:59.330 --> 02:26:59.340 align:start position:0% by that by that function right there 02:26:59.340 --> 02:27:01.700 align:start position:0% by that by that function right there cool<02:26:59.670> so<02:27:00.030> how<02:27:00.390> can<02:27:00.450> this<02:27:00.720> game<02:27:00.899> be<02:27:00.960> modified<02:27:01.500> so 02:27:01.700 --> 02:27:01.710 align:start position:0% cool so how can this game be modified so 02:27:01.710 --> 02:27:03.110 align:start position:0% cool so how can this game be modified so the<02:27:01.859> sister<02:27:02.130> concept<02:27:02.460> of<02:27:02.550> being<02:27:02.670> morphing 02:27:03.110 --> 02:27:03.120 align:start position:0% the sister concept of being morphing 02:27:03.120 --> 02:27:05.599 align:start position:0% the sister concept of being morphing where<02:27:03.359> the<02:27:04.290> Nash<02:27:04.470> equilibrium<02:27:05.100> of<02:27:05.160> a<02:27:05.280> game<02:27:05.460> can 02:27:05.599 --> 02:27:05.609 align:start position:0% where the Nash equilibrium of a game can 02:27:05.609 --> 02:27:08.809 align:start position:0% where the Nash equilibrium of a game can be<02:27:05.729> shifted<02:27:06.149> and<02:27:06.930> this<02:27:07.770> game<02:27:08.040> can<02:27:08.250> be<02:27:08.370> modified 02:27:08.809 --> 02:27:08.819 align:start position:0% be shifted and this game can be modified 02:27:08.819 --> 02:27:11.179 align:start position:0% be shifted and this game can be modified as<02:27:09.030> a<02:27:09.149> third<02:27:09.420> player<02:27:09.750> that<02:27:10.380> has<02:27:10.649> information 02:27:11.179 --> 02:27:11.189 align:start position:0% as a third player that has information 02:27:11.189 --> 02:27:13.370 align:start position:0% as a third player that has information about<02:27:11.670> the<02:27:12.240> games<02:27:12.420> at<02:27:12.630> least<02:27:12.840> you<02:27:12.990> guys<02:27:13.200> are 02:27:13.370 --> 02:27:13.380 align:start position:0% about the games at least you guys are 02:27:13.380 --> 02:27:17.630 align:start position:0% about the games at least you guys are playing<02:27:13.970> is<02:27:14.970> able<02:27:15.720> to<02:27:15.899> make<02:27:16.140> an<02:27:16.410> offer<02:27:16.890> to 02:27:17.630 --> 02:27:17.640 align:start position:0% playing is able to make an offer to 02:27:17.640 --> 02:27:20.389 align:start position:0% playing is able to make an offer to change<02:27:17.970> the<02:27:18.149> utilities<02:27:18.720> of<02:27:19.170> the<02:27:19.710> initial<02:27:20.160> game 02:27:20.389 --> 02:27:20.399 align:start position:0% change the utilities of the initial game 02:27:20.399 --> 02:27:22.700 align:start position:0% change the utilities of the initial game and<02:27:21.030> this<02:27:21.270> is<02:27:21.420> especially<02:27:21.750> possible<02:27:22.530> with 02:27:22.700 --> 02:27:22.710 align:start position:0% and this is especially possible with 02:27:22.710 --> 02:27:24.590 align:start position:0% and this is especially possible with trucks<02:27:23.340> because<02:27:23.670> it's<02:27:23.850> not<02:27:24.000> contracts<02:27:24.420> and 02:27:24.590 --> 02:27:24.600 align:start position:0% trucks because it's not contracts and 02:27:24.600 --> 02:27:26.719 align:start position:0% trucks because it's not contracts and publicly<02:27:24.960> visible<02:27:25.130> strictly<02:27:26.130> enforceable 02:27:26.719 --> 02:27:26.729 align:start position:0% publicly visible strictly enforceable 02:27:26.729 --> 02:27:29.900 align:start position:0% publicly visible strictly enforceable and<02:27:26.880> also<02:27:27.600> they<02:27:28.380> are<02:27:28.729> frictionless<02:27:29.729> to 02:27:29.900 --> 02:27:29.910 align:start position:0% and also they are frictionless to 02:27:29.910 --> 02:27:31.219 align:start position:0% and also they are frictionless to implement<02:27:30.240> means<02:27:30.450> that<02:27:30.689> you<02:27:30.810> wouldn't<02:27:31.140> have 02:27:31.219 --> 02:27:31.229 align:start position:0% implement means that you wouldn't have 02:27:31.229 --> 02:27:35.719 align:start position:0% implement means that you wouldn't have to<02:27:31.439> expect<02:27:32.280> any<02:27:32.670> money<02:27:32.970> with<02:27:33.649> with<02:27:34.729> legal 02:27:35.719 --> 02:27:35.729 align:start position:0% to expect any money with with legal 02:27:35.729 --> 02:27:38.809 align:start position:0% to expect any money with with legal contracts<02:27:36.240> and<02:27:36.600> winning<02:27:36.899> authorities<02:27:37.819> and 02:27:38.809 --> 02:27:38.819 align:start position:0% contracts and winning authorities and 02:27:38.819 --> 02:27:40.309 align:start position:0% contracts and winning authorities and they're<02:27:38.970> also<02:27:39.120> strictly<02:27:39.510> enforceable<02:27:40.140> means 02:27:40.309 --> 02:27:40.319 align:start position:0% they're also strictly enforceable means 02:27:40.319 --> 02:27:42.820 align:start position:0% they're also strictly enforceable means that<02:27:40.500> any<02:27:40.710> debt<02:27:41.040> that<02:27:41.069> you<02:27:41.370> make<02:27:41.580> on<02:27:41.819> this 02:27:42.820 --> 02:27:42.830 align:start position:0% that any debt that you make on this 02:27:42.830 --> 02:27:46.639 align:start position:0% that any debt that you make on this particular<02:27:43.830> work<02:27:44.130> will<02:27:44.790> be<02:27:44.970> credible<02:27:45.649> so 02:27:46.639 --> 02:27:46.649 align:start position:0% particular work will be credible so 02:27:46.649 --> 02:27:48.410 align:start position:0% particular work will be credible so let's<02:27:46.950> say<02:27:47.100> it's<02:27:47.280> player<02:27:47.609> C<02:27:47.880> comes<02:27:48.180> to<02:27:48.300> be 02:27:48.410 --> 02:27:48.420 align:start position:0% let's say it's player C comes to be 02:27:48.420 --> 02:27:50.660 align:start position:0% let's say it's player C comes to be antes<02:27:48.780> hey<02:27:49.290> B<02:27:49.530> I'm<02:27:49.830> going<02:27:50.100> to<02:27:50.189> give<02:27:50.310> you<02:27:50.399> one 02:27:50.660 --> 02:27:50.670 align:start position:0% antes hey B I'm going to give you one 02:27:50.670 --> 02:27:53.719 align:start position:0% antes hey B I'm going to give you one point<02:27:50.939> five<02:27:51.380> utility<02:27:52.380> points<02:27:52.560> if<02:27:53.340> you 02:27:53.719 --> 02:27:53.729 align:start position:0% point five utility points if you 02:27:53.729 --> 02:27:56.750 align:start position:0% point five utility points if you cooperate<02:27:54.510> with<02:27:55.200> hire<02:27:55.920> a<02:27:56.220> well<02:27:56.490> they're<02:27:56.729> a 02:27:56.750 --> 02:27:56.760 align:start position:0% cooperate with hire a well they're a 02:27:56.760 --> 02:27:58.790 align:start position:0% cooperate with hire a well they're a defects<02:27:57.300> now<02:27:57.689> even<02:27:58.050> though<02:27:58.200> this<02:27:58.380> is<02:27:58.500> not<02:27:58.530> the 02:27:58.790 --> 02:27:58.800 align:start position:0% defects now even though this is not the 02:27:58.800 --> 02:28:02.780 align:start position:0% defects now even though this is not the most<02:27:59.250> rational<02:27:59.460> strategy<02:27:59.910> for<02:28:00.420> for<02:28:01.350> be<02:28:01.530> an<02:28:02.160> us 02:28:02.780 --> 02:28:02.790 align:start position:0% most rational strategy for for be an us 02:28:02.790 --> 02:28:05.900 align:start position:0% most rational strategy for for be an us C<02:28:03.750> doesn't<02:28:04.020> exist<02:28:04.470> or<02:28:04.710> if<02:28:05.130> seeded<02:28:05.490> hadn't<02:28:05.819> made 02:28:05.900 --> 02:28:05.910 align:start position:0% C doesn't exist or if seeded hadn't made 02:28:05.910 --> 02:28:08.690 align:start position:0% C doesn't exist or if seeded hadn't made the<02:28:06.060> offer<02:28:06.210> now<02:28:06.540> by<02:28:07.350> proposing<02:28:08.069> this<02:28:08.189> utility 02:28:08.690 --> 02:28:08.700 align:start position:0% the offer now by proposing this utility 02:28:08.700 --> 02:28:12.500 align:start position:0% the offer now by proposing this utility if<02:28:08.910> he<02:28:09.240> makes<02:28:09.420> the<02:28:09.600> freshmen<02:28:10.609> cool<02:28:11.609> so<02:28:11.970> so<02:28:12.300> then 02:28:12.500 --> 02:28:12.510 align:start position:0% if he makes the freshmen cool so so then 02:28:12.510 --> 02:28:16.250 align:start position:0% if he makes the freshmen cool so so then we<02:28:12.689> have<02:28:12.990> this<02:28:13.109> constant<02:28:13.470> game<02:28:13.770> where<02:28:15.260> since 02:28:16.250 --> 02:28:16.260 align:start position:0% we have this constant game where since 02:28:16.260 --> 02:28:18.710 align:start position:0% we have this constant game where since the<02:28:16.620> C<02:28:17.220> is<02:28:17.430> equal<02:28:17.700> to<02:28:17.729> offer<02:28:17.970> what<02:28:18.330> provides 02:28:18.710 --> 02:28:18.720 align:start position:0% the C is equal to offer what provides 02:28:18.720 --> 02:28:22.820 align:start position:0% the C is equal to offer what provides any<02:28:19.020> points<02:28:19.319> for<02:28:19.819> cooperate<02:28:20.819> defect<02:28:21.590> C<02:28:22.590> will 02:28:22.820 --> 02:28:22.830 align:start position:0% any points for cooperate defect C will 02:28:22.830 --> 02:28:25.099 align:start position:0% any points for cooperate defect C will be<02:28:22.979> able<02:28:23.160> to<02:28:23.340> modify<02:28:23.609> the<02:28:23.910> game<02:28:24.270> that<02:28:24.569> a<02:28:24.720> and<02:28:24.930> B 02:28:25.099 --> 02:28:25.109 align:start position:0% be able to modify the game that a and B 02:28:25.109 --> 02:28:27.080 align:start position:0% be able to modify the game that a and B are<02:28:25.229> playing<02:28:25.530> thus<02:28:26.189> the<02:28:26.490> painting<02:28:26.819> the<02:28:26.939> new 02:28:27.080 --> 02:28:27.090 align:start position:0% are playing thus the painting the new 02:28:27.090 --> 02:28:28.130 align:start position:0% are playing thus the painting the new Nash<02:28:27.300> equilibria 02:28:28.130 --> 02:28:28.140 align:start position:0% Nash equilibria 02:28:28.140 --> 02:28:32.059 align:start position:0% Nash equilibria to<02:28:28.560> arrive<02:28:29.189> a<02:28:30.060> defect<02:28:30.810> equality<02:28:31.530> corporates 02:28:32.059 --> 02:28:32.069 align:start position:0% to arrive a defect equality corporates 02:28:32.069 --> 02:28:34.670 align:start position:0% to arrive a defect equality corporates so<02:28:32.700> now<02:28:32.880> it<02:28:33.090> has<02:28:33.120> essentially<02:28:33.780> changed<02:28:34.560> to 02:28:34.670 --> 02:28:34.680 align:start position:0% so now it has essentially changed to 02:28:34.680 --> 02:28:35.809 align:start position:0% so now it has essentially changed to modify<02:28:35.160> the<02:28:35.220> game 02:28:35.809 --> 02:28:35.819 align:start position:0% modify the game 02:28:35.819 --> 02:28:37.519 align:start position:0% modify the game that<02:28:36.449> it<02:28:36.600> does<02:28:36.839> is<02:28:37.050> not<02:28:37.199> the<02:28:37.379> traditional 02:28:37.519 --> 02:28:37.529 align:start position:0% that it does is not the traditional 02:28:37.529 --> 02:28:41.479 align:start position:0% that it does is not the traditional business<02:28:38.159> and<02:28:38.310> not<02:28:38.430> my<02:28:38.550> anymore<02:28:39.319> and<02:28:40.339> this<02:28:41.339> is 02:28:41.479 --> 02:28:41.489 align:start position:0% business and not my anymore and this is 02:28:41.489 --> 02:28:43.729 align:start position:0% business and not my anymore and this is just<02:28:41.729> one<02:28:41.939> way<02:28:42.180> in<02:28:42.510> which<02:28:42.720> games<02:28:43.140> can<02:28:43.409> be<02:28:43.560> work 02:28:43.729 --> 02:28:43.739 align:start position:0% just one way in which games can be work 02:28:43.739 --> 02:28:45.679 align:start position:0% just one way in which games can be work it's<02:28:44.159> gonna<02:28:44.430> be<02:28:44.489> work<02:28:44.760> even<02:28:45.180> through<02:28:45.209> three 02:28:45.679 --> 02:28:45.689 align:start position:0% it's gonna be work even through three 02:28:45.689 --> 02:28:47.750 align:start position:0% it's gonna be work even through three agreements<02:28:45.989> made<02:28:46.379> between<02:28:46.409> two<02:28:46.770> players<02:28:47.159> that 02:28:47.750 --> 02:28:47.760 align:start position:0% agreements made between two players that 02:28:47.760 --> 02:28:49.130 align:start position:0% agreements made between two players that are<02:28:47.909> just<02:28:48.119> attracting<02:28:48.600> with<02:28:48.749> each<02:28:48.899> other 02:28:49.130 --> 02:28:49.140 align:start position:0% are just attracting with each other 02:28:49.140 --> 02:28:50.929 align:start position:0% are just attracting with each other without<02:28:49.439> the<02:28:49.739> third<02:28:49.890> player<02:28:50.189> takes<02:28:50.579> the<02:28:50.760> sting 02:28:50.929 --> 02:28:50.939 align:start position:0% without the third player takes the sting 02:28:50.939 --> 02:28:52.849 align:start position:0% without the third player takes the sting and<02:28:51.180> there<02:28:51.629> are<02:28:51.720> many<02:28:51.899> other<02:28:52.140> ways<02:28:52.169> as<02:28:52.499> well<02:28:52.589> in 02:28:52.849 --> 02:28:52.859 align:start position:0% and there are many other ways as well in 02:28:52.859 --> 02:28:54.409 align:start position:0% and there are many other ways as well in which<02:28:53.010> it's<02:28:53.550> gonna<02:28:53.760> be<02:28:53.879> worked<02:28:54.089> which<02:28:54.300> I 02:28:54.409 --> 02:28:54.419 align:start position:0% which it's gonna be worked which I 02:28:54.419 --> 02:28:56.510 align:start position:0% which it's gonna be worked which I wouldn't<02:28:54.689> go<02:28:54.810> into<02:28:55.050> details<02:28:55.350> right<02:28:55.409> now<02:28:55.589> but 02:28:56.510 --> 02:28:56.520 align:start position:0% wouldn't go into details right now but 02:28:56.520 --> 02:28:58.729 align:start position:0% wouldn't go into details right now but the<02:28:56.729> point<02:28:56.939> is<02:28:57.239> that<02:28:57.270> any<02:28:57.899> spot<02:28:58.169> contract<02:28:58.619> that 02:28:58.729 --> 02:28:58.739 align:start position:0% the point is that any spot contract that 02:28:58.739 --> 02:29:01.279 align:start position:0% the point is that any spot contract that can<02:28:58.949> be<02:28:59.010> computed<02:28:59.489> will<02:29:00.209> be<02:29:00.539> computed<02:29:01.020> at<02:29:01.169> this 02:29:01.279 --> 02:29:01.289 align:start position:0% can be computed will be computed at this 02:29:01.289 --> 02:29:02.719 align:start position:0% can be computed will be computed at this is<02:29:01.439> kind<02:29:01.649> of<02:29:01.709> the<02:29:01.829> double<02:29:02.100> edge<02:29:02.249> of<02:29:02.399> this<02:29:02.520> of 02:29:02.719 --> 02:29:02.729 align:start position:0% is kind of the double edge of this of 02:29:02.729 --> 02:29:04.670 align:start position:0% is kind of the double edge of this of during<02:29:03.479> complete<02:29:03.839> launching<02:29:04.289> or 02:29:04.670 --> 02:29:04.680 align:start position:0% during complete launching or 02:29:04.680 --> 02:29:07.069 align:start position:0% during complete launching or completeness<02:29:05.459> of<02:29:05.699> small<02:29:05.909> contracts<02:29:06.300> because 02:29:07.069 --> 02:29:07.079 align:start position:0% completeness of small contracts because 02:29:07.079 --> 02:29:09.590 align:start position:0% completeness of small contracts because anything<02:29:07.619> that<02:29:07.859> computers<02:29:08.729> will<02:29:08.999> be<02:29:09.180> computed 02:29:09.590 --> 02:29:09.600 align:start position:0% anything that computers will be computed 02:29:09.600 --> 02:29:11.750 align:start position:0% anything that computers will be computed so<02:29:10.109> we<02:29:10.499> arrive<02:29:10.859> at<02:29:11.010> this<02:29:11.159> dimension<02:29:11.609> what 02:29:11.750 --> 02:29:11.760 align:start position:0% so we arrive at this dimension what 02:29:11.760 --> 02:29:13.880 align:start position:0% so we arrive at this dimension what would<02:29:11.939> you<02:29:12.029> do<02:29:12.329> we<02:29:12.479> consider<02:29:12.959> good<02:29:13.439> power<02:29:13.709> to 02:29:13.880 --> 02:29:13.890 align:start position:0% would you do we consider good power to 02:29:13.890 --> 02:29:19.909 align:start position:0% would you do we consider good power to be<02:29:14.010> money<02:29:15.949> so<02:29:16.949> I<02:29:17.489> sort<02:29:18.479> of<02:29:18.689> loosely<02:29:18.959> defined<02:29:19.260> of 02:29:19.909 --> 02:29:19.919 align:start position:0% be money so I sort of loosely defined of 02:29:19.919 --> 02:29:22.130 align:start position:0% be money so I sort of loosely defined of how<02:29:20.640> the<02:29:20.699> appropriate<02:29:21.300> configurations<02:29:21.930> can 02:29:22.130 --> 02:29:22.140 align:start position:0% how the appropriate configurations can 02:29:22.140 --> 02:29:24.139 align:start position:0% how the appropriate configurations can be<02:29:22.199> extremely<02:29:22.770> bad<02:29:22.919> so<02:29:23.159> the<02:29:23.369> number<02:29:23.640> of<02:29:23.669> offers 02:29:24.139 --> 02:29:24.149 align:start position:0% be extremely bad so the number of offers 02:29:24.149 --> 02:29:27.109 align:start position:0% be extremely bad so the number of offers that<02:29:24.390> have<02:29:24.779> potential<02:29:25.439> players<02:29:26.010> Cerf<02:29:26.909> came 02:29:27.109 --> 02:29:27.119 align:start position:0% that have potential players Cerf came 02:29:27.119 --> 02:29:30.859 align:start position:0% that have potential players Cerf came Warburg<02:29:27.539> inmate<02:29:28.249> is<02:29:29.249> defined<02:29:29.909> by<02:29:30.329> the<02:29:30.390> number 02:29:30.859 --> 02:29:30.869 align:start position:0% Warburg inmate is defined by the number 02:29:30.869 --> 02:29:33.849 align:start position:0% Warburg inmate is defined by the number of<02:29:31.079> actions<02:29:31.499> that<02:29:32.339> exists<02:29:33.060> within<02:29:33.209> the<02:29:33.390> game 02:29:33.849 --> 02:29:33.859 align:start position:0% of actions that exists within the game 02:29:33.859 --> 02:29:37.939 align:start position:0% of actions that exists within the game times<02:29:34.859> the<02:29:35.189> wealth<02:29:35.430> of<02:29:35.640> the<02:29:36.209> maximum<02:29:36.959> the 02:29:37.939 --> 02:29:37.949 align:start position:0% times the wealth of the maximum the 02:29:37.949 --> 02:29:39.979 align:start position:0% times the wealth of the maximum the maximum<02:29:38.100> wealth<02:29:38.550> of<02:29:38.760> the<02:29:38.879> war<02:29:39.089> per<02:29:39.239> times<02:29:39.869> a 02:29:39.979 --> 02:29:39.989 align:start position:0% maximum wealth of the war per times a 02:29:39.989 --> 02:29:42.380 align:start position:0% maximum wealth of the war per times a combination<02:29:40.499> of<02:29:40.709> the<02:29:41.279> players<02:29:41.850> that<02:29:42.060> the 02:29:42.380 --> 02:29:42.390 align:start position:0% combination of the players that the 02:29:42.390 --> 02:29:45.229 align:start position:0% combination of the players that the worker<02:29:42.600> chooses<02:29:43.109> to<02:29:43.289> work<02:29:43.470> and<02:29:43.970> this<02:29:44.970> will<02:29:45.149> be 02:29:45.229 --> 02:29:45.239 align:start position:0% worker chooses to work and this will be 02:29:45.239 --> 02:29:46.819 align:start position:0% worker chooses to work and this will be divided<02:29:45.629> by<02:29:45.810> the<02:29:45.869> computation<02:29:46.379> power<02:29:46.560> the 02:29:46.819 --> 02:29:46.829 align:start position:0% divided by the computation power the 02:29:46.829 --> 02:29:48.380 align:start position:0% divided by the computation power the worker<02:29:47.010> because<02:29:47.339> that's<02:29:47.520> a<02:29:47.640> key<02:29:47.819> limitation 02:29:48.380 --> 02:29:48.390 align:start position:0% worker because that's a key limitation 02:29:48.390 --> 02:29:50.479 align:start position:0% worker because that's a key limitation that<02:29:48.600> is<02:29:49.560> to<02:29:49.680> attain<02:29:49.800> the<02:29:50.069> number<02:29:50.279> of<02:29:50.369> a 02:29:50.479 --> 02:29:50.489 align:start position:0% that is to attain the number of a 02:29:50.489 --> 02:29:56.479 align:start position:0% that is to attain the number of a morphing<02:29:50.819> officer<02:29:51.270> why<02:29:51.869> do<02:29:51.930> you<02:29:52.109> make<02:29:55.129> so<02:29:56.129> okay 02:29:56.479 --> 02:29:56.489 align:start position:0% morphing officer why do you make so okay 02:29:56.489 --> 02:29:59.119 align:start position:0% morphing officer why do you make so okay so<02:29:56.520> on<02:29:56.789> out<02:29:56.999> there<02:29:57.180> cuz<02:29:57.390> this<02:29:57.810> is<02:29:57.989> the<02:29:58.050> game<02:29:58.229> I'm 02:29:59.119 --> 02:29:59.129 align:start position:0% so on out there cuz this is the game I'm 02:29:59.129 --> 02:30:00.649 align:start position:0% so on out there cuz this is the game I'm gonna<02:29:59.339> have<02:29:59.459> the<02:29:59.579> room<02:29:59.699> to<02:29:59.909> make<02:30:00.180> the<02:30:00.329> number 02:30:00.649 --> 02:30:00.659 align:start position:0% gonna have the room to make the number 02:30:00.659 --> 02:30:03.559 align:start position:0% gonna have the room to make the number between<02:30:01.260> 0<02:30:01.829> and<02:30:01.890> 100<02:30:02.189> and<02:30:02.729> the<02:30:03.089> person<02:30:03.449> that 02:30:03.559 --> 02:30:03.569 align:start position:0% between 0 and 100 and the person that 02:30:03.569 --> 02:30:05.389 align:start position:0% between 0 and 100 and the person that makes<02:30:03.749> the<02:30:03.899> number<02:30:04.169> closest<02:30:04.649> to<02:30:04.800> a<02:30:04.829> half<02:30:05.159> of 02:30:05.389 --> 02:30:05.399 align:start position:0% makes the number closest to a half of 02:30:05.399 --> 02:30:08.829 align:start position:0% makes the number closest to a half of the<02:30:05.520> average<02:30:05.789> wins<02:30:06.979> alright<02:30:07.979> go<02:30:08.159> ahead<02:30:08.189> make 02:30:08.829 --> 02:30:08.839 align:start position:0% the average wins alright go ahead make 02:30:08.839 --> 02:30:13.849 align:start position:0% the average wins alright go ahead make all<02:30:09.839> right<02:30:11.180> yes<02:30:12.180> ok<02:30:12.749> cool<02:30:12.989> how<02:30:13.169> many<02:30:13.680> pay 02:30:13.849 --> 02:30:13.859 align:start position:0% all right yes ok cool how many pay 02:30:13.859 --> 02:30:15.290 align:start position:0% all right yes ok cool how many pay people<02:30:14.220> picked<02:30:14.430> about<02:30:14.699> 50 02:30:15.290 --> 02:30:15.300 align:start position:0% people picked about 50 02:30:15.300 --> 02:30:19.609 align:start position:0% people picked about 50 show<02:30:15.989> hands<02:30:17.089> ok<02:30:18.089> how<02:30:19.020> many<02:30:19.079> people<02:30:19.229> picked 02:30:19.609 --> 02:30:19.619 align:start position:0% show hands ok how many people picked 02:30:19.619 --> 02:30:24.859 align:start position:0% show hands ok how many people picked about<02:30:19.709> 25<02:30:21.709> ok<02:30:22.739> level<02:30:23.249> 1<02:30:23.430> you<02:30:24.390> guys<02:30:24.539> didn't<02:30:24.810> make 02:30:24.859 --> 02:30:24.869 align:start position:0% about 25 ok level 1 you guys didn't make 02:30:24.869 --> 02:30:26.929 align:start position:0% about 25 ok level 1 you guys didn't make a<02:30:25.020> random<02:30:25.409> choice<02:30:25.589> if<02:30:25.979> you<02:30:26.129> picked<02:30:26.399> it<02:30:26.520> if<02:30:26.729> you 02:30:26.929 --> 02:30:26.939 align:start position:0% a random choice if you picked it if you 02:30:26.939 --> 02:30:28.639 align:start position:0% a random choice if you picked it if you make<02:30:27.119> them<02:30:27.209> up<02:30:27.359> a<02:30:27.479> decent<02:30:27.659> it<02:30:28.079> might<02:30:28.470> be<02:30:28.619> a 02:30:28.639 --> 02:30:28.649 align:start position:0% make them up a decent it might be a 02:30:28.649 --> 02:30:32.869 align:start position:0% make them up a decent it might be a random<02:30:28.890> choice<02:30:29.159> if<02:30:30.089> you<02:30:30.209> picked<02:30:31.459> about<02:30:32.459> 25 02:30:32.869 --> 02:30:32.879 align:start position:0% random choice if you picked about 25 02:30:32.879 --> 02:30:34.670 align:start position:0% random choice if you picked about 25 it's<02:30:33.180> another<02:30:33.390> one<02:30:33.689> choice<02:30:33.869> how<02:30:34.409> do<02:30:34.470> you<02:30:34.529> think 02:30:34.670 --> 02:30:34.680 align:start position:0% it's another one choice how do you think 02:30:34.680 --> 02:30:40.969 align:start position:0% it's another one choice how do you think people<02:30:35.129> picked<02:30:35.369> about<02:30:36.270> house<02:30:36.749> 25<02:30:39.770> okay 02:30:40.969 --> 02:30:40.979 align:start position:0% people picked about house 25 okay 02:30:40.979 --> 02:30:45.170 align:start position:0% people picked about house 25 okay level<02:30:41.369> 2<02:30:41.520> choice<02:30:41.789> how<02:30:42.659> do<02:30:42.720> people<02:30:43.050> make<02:30:43.169> 0<02:30:44.180> okay 02:30:45.170 --> 02:30:45.180 align:start position:0% level 2 choice how do people make 0 okay 02:30:45.180 --> 02:30:46.580 align:start position:0% level 2 choice how do people make 0 okay cool<02:30:45.419> you<02:30:45.600> guys<02:30:45.779> probably<02:30:46.020> on 02:30:46.580 --> 02:30:46.590 align:start position:0% cool you guys probably on 02:30:46.590 --> 02:30:49.120 align:start position:0% cool you guys probably on or<02:30:47.100> you're<02:30:47.550> really<02:30:47.880> computationally<02:30:48.689> smart 02:30:49.120 --> 02:30:49.130 align:start position:0% or you're really computationally smart 02:30:49.130 --> 02:30:51.979 align:start position:0% or you're really computationally smart okay<02:30:50.130> so<02:30:50.189> the<02:30:50.520> little<02:30:51.239> gate<02:30:51.390> games<02:30:51.600> is<02:30:51.779> winding 02:30:51.979 --> 02:30:51.989 align:start position:0% okay so the little gate games is winding 02:30:51.989 --> 02:30:53.870 align:start position:0% okay so the little gate games is winding on<02:30:52.260> you're<02:30:52.590> able<02:30:53.010> to<02:30:53.100> make<02:30:53.250> inferences<02:30:53.579> that 02:30:53.870 --> 02:30:53.880 align:start position:0% on you're able to make inferences that 02:30:53.880 --> 02:30:56.809 align:start position:0% on you're able to make inferences that about<02:30:54.449> your<02:30:54.600> peers<02:30:54.899> about<02:30:55.399> what<02:30:56.399> your<02:30:56.550> peers 02:30:56.809 --> 02:30:56.819 align:start position:0% about your peers about what your peers 02:30:56.819 --> 02:31:02.120 align:start position:0% about your peers about what your peers are<02:30:57.060> choosing<02:30:58.050> so<02:30:58.340> yeah<02:30:59.340> yeah<02:31:00.029> exactly 02:31:02.120 --> 02:31:02.130 align:start position:0% are choosing so yeah yeah exactly 02:31:02.130 --> 02:31:04.729 align:start position:0% are choosing so yeah yeah exactly so<02:31:02.550> so<02:31:03.000> the<02:31:03.420> grass<02:31:03.569> is<02:31:03.720> located<02:31:04.140> way<02:31:04.199> to<02:31:04.260> go 02:31:04.729 --> 02:31:04.739 align:start position:0% so so the grass is located way to go 02:31:04.739 --> 02:31:07.160 align:start position:0% so so the grass is located way to go math<02:31:04.890> Shanthi<02:31:05.250> one<02:31:05.460> of<02:31:05.550> the<02:31:05.699> one<02:31:06.239> of<02:31:06.270> the<02:31:06.479> key 02:31:07.160 --> 02:31:07.170 align:start position:0% math Shanthi one of the one of the key 02:31:07.170 --> 02:31:08.599 align:start position:0% math Shanthi one of the one of the key limitations<02:31:07.710> for<02:31:07.829> that<02:31:08.010> is<02:31:08.130> that<02:31:08.250> humans<02:31:08.550> are 02:31:08.599 --> 02:31:08.609 align:start position:0% limitations for that is that humans are 02:31:08.609 --> 02:31:10.760 align:start position:0% limitations for that is that humans are usually<02:31:09.210> studied<02:31:09.869> or<02:31:09.989> empirically<02:31:10.500> it<02:31:10.649> has 02:31:10.760 --> 02:31:10.770 align:start position:0% usually studied or empirically it has 02:31:10.770 --> 02:31:11.870 align:start position:0% usually studied or empirically it has been<02:31:10.920> verified<02:31:11.130> that<02:31:11.399> humans<02:31:11.670> are<02:31:11.760> usually 02:31:11.870 --> 02:31:11.880 align:start position:0% been verified that humans are usually 02:31:11.880 --> 02:31:14.899 align:start position:0% been verified that humans are usually level<02:31:12.239> three<02:31:12.420> and<02:31:13.369> computers<02:31:14.369> can<02:31:14.460> be<02:31:14.609> as 02:31:14.899 --> 02:31:14.909 align:start position:0% level three and computers can be as 02:31:14.909 --> 02:31:18.500 align:start position:0% level three and computers can be as level<02:31:15.239> high<02:31:15.899> as<02:31:16.729> the<02:31:17.729> compute<02:31:18.029> power<02:31:18.060> that 02:31:18.500 --> 02:31:18.510 align:start position:0% level high as the compute power that 02:31:18.510 --> 02:31:23.540 align:start position:0% level high as the compute power that they<02:31:18.600> possess<02:31:20.540> so<02:31:22.100> also<02:31:23.100> when<02:31:23.250> we're<02:31:23.399> dealing 02:31:23.540 --> 02:31:23.550 align:start position:0% they possess so also when we're dealing 02:31:23.550 --> 02:31:26.540 align:start position:0% they possess so also when we're dealing with<02:31:23.729> a<02:31:24.270> lot<02:31:24.540> of<02:31:24.630> these<02:31:25.220> watching<02:31:26.220> our<02:31:26.340> smart 02:31:26.540 --> 02:31:26.550 align:start position:0% with a lot of these watching our smart 02:31:26.550 --> 02:31:29.809 align:start position:0% with a lot of these watching our smart contract<02:31:26.880> systems<02:31:27.300> I<02:31:28.250> have<02:31:29.250> tended<02:31:29.579> to<02:31:29.699> work 02:31:29.809 --> 02:31:29.819 align:start position:0% contract systems I have tended to work 02:31:29.819 --> 02:31:31.250 align:start position:0% contract systems I have tended to work under<02:31:30.119> the<02:31:30.149> assumption<02:31:30.479> that<02:31:30.630> information<02:31:31.170> is 02:31:31.250 --> 02:31:31.260 align:start position:0% under the assumption that information is 02:31:31.260 --> 02:31:32.569 align:start position:0% under the assumption that information is complete<02:31:31.590> because<02:31:31.859> everything<02:31:32.310> is<02:31:32.399> was<02:31:32.550> a 02:31:32.569 --> 02:31:32.579 align:start position:0% complete because everything is was a 02:31:32.579 --> 02:31:34.370 align:start position:0% complete because everything is was a wonderful<02:31:33.060> thing<02:31:33.090> about<02:31:33.300> chain<02:31:33.630> but<02:31:34.170> for 02:31:34.370 --> 02:31:34.380 align:start position:0% wonderful thing about chain but for 02:31:34.380 --> 02:31:35.630 align:start position:0% wonderful thing about chain but for information<02:31:34.829> is<02:31:34.890> actually<02:31:35.069> incomplete 02:31:35.630 --> 02:31:35.640 align:start position:0% information is actually incomplete 02:31:35.640 --> 02:31:37.670 align:start position:0% information is actually incomplete because<02:31:36.119> a<02:31:36.300> lot<02:31:36.540> of<02:31:36.569> billions<02:31:37.140> can<02:31:37.319> be<02:31:37.439> private 02:31:37.670 --> 02:31:37.680 align:start position:0% because a lot of billions can be private 02:31:37.680 --> 02:31:40.309 align:start position:0% because a lot of billions can be private even<02:31:38.430> though<02:31:38.520> the<02:31:38.640> briefs<02:31:38.939> are<02:31:39.319> broadcasted 02:31:40.309 --> 02:31:40.319 align:start position:0% even though the briefs are broadcasted 02:31:40.319 --> 02:31:41.899 align:start position:0% even though the briefs are broadcasted they<02:31:40.439> can<02:31:40.590> still<02:31:40.859> be<02:31:40.890> private<02:31:41.430> because<02:31:41.609> you 02:31:41.899 --> 02:31:41.909 align:start position:0% they can still be private because you 02:31:41.909 --> 02:31:44.000 align:start position:0% they can still be private because you don't<02:31:42.149> know<02:31:42.300> the<02:31:42.569> true<02:31:42.779> belief<02:31:43.109> so<02:31:43.619> you<02:31:43.680> can 02:31:44.000 --> 02:31:44.010 align:start position:0% don't know the true belief so you can 02:31:44.010 --> 02:31:45.800 align:start position:0% don't know the true belief so you can assign<02:31:44.369> a<02:31:44.430> high<02:31:44.640> degree<02:31:44.790> of<02:31:44.939> certainty<02:31:45.149> tenant 02:31:45.800 --> 02:31:45.810 align:start position:0% assign a high degree of certainty tenant 02:31:45.810 --> 02:31:49.969 align:start position:0% assign a high degree of certainty tenant and<02:31:46.550> also<02:31:47.550> reality<02:31:48.119> is<02:31:48.270> a<02:31:48.300> fabrication<02:31:48.750> of<02:31:49.109> the 02:31:49.969 --> 02:31:49.979 align:start position:0% and also reality is a fabrication of the 02:31:49.979 --> 02:31:51.290 align:start position:0% and also reality is a fabrication of the collective<02:31:50.399> perception<02:31:50.670> of<02:31:50.939> all<02:31:51.090> of<02:31:51.210> the 02:31:51.290 --> 02:31:51.300 align:start position:0% collective perception of all of the 02:31:51.300 --> 02:31:52.429 align:start position:0% collective perception of all of the agents<02:31:51.600> within<02:31:51.840> the<02:31:51.930> system 02:31:52.429 --> 02:31:52.439 align:start position:0% agents within the system 02:31:52.439 --> 02:31:56.359 align:start position:0% agents within the system so<02:31:52.859> there<02:31:53.159> are<02:31:53.189> things<02:31:53.340> such<02:31:53.640> as<02:31:54.020> the<02:31:55.020> value<02:31:55.439> is 02:31:56.359 --> 02:31:56.369 align:start position:0% so there are things such as the value is 02:31:56.369 --> 02:31:58.460 align:start position:0% so there are things such as the value is also<02:31:56.640> a<02:31:56.790> perception<02:31:57.300> is<02:31:57.600> that<02:31:57.659> it's<02:31:58.140> something 02:31:58.460 --> 02:31:58.470 align:start position:0% also a perception is that it's something 02:31:58.470 --> 02:32:00.530 align:start position:0% also a perception is that it's something that<02:31:58.590> we<02:31:58.710> have<02:31:58.800> assigned<02:31:59.250> the<02:31:59.790> definition<02:32:00.359> of 02:32:00.530 --> 02:32:00.540 align:start position:0% that we have assigned the definition of 02:32:00.540 --> 02:32:03.290 align:start position:0% that we have assigned the definition of a<02:32:00.630> thing<02:32:00.810> is<02:32:01.079> also<02:32:01.229> other<02:32:01.439> perceptions<02:32:02.119> it<02:32:03.119> is 02:32:03.290 --> 02:32:03.300 align:start position:0% a thing is also other perceptions it is 02:32:03.300 --> 02:32:06.649 align:start position:0% a thing is also other perceptions it is supposed<02:32:03.569> to<02:32:03.630> define<02:32:03.930> by<02:32:04.140> the<02:32:04.170> agents<02:32:04.800> and<02:32:05.659> so 02:32:06.649 --> 02:32:06.659 align:start position:0% supposed to define by the agents and so 02:32:06.659 --> 02:32:08.859 align:start position:0% supposed to define by the agents and so essentially<02:32:07.079> we<02:32:07.470> are<02:32:07.500> not<02:32:07.859> able<02:32:08.069> to<02:32:08.220> meet<02:32:08.460> very 02:32:08.859 --> 02:32:08.869 align:start position:0% essentially we are not able to meet very 02:32:08.869 --> 02:32:11.030 align:start position:0% essentially we are not able to meet very definitive<02:32:09.869> inferences<02:32:10.319> about<02:32:10.380> those<02:32:10.770> things 02:32:11.030 --> 02:32:11.040 align:start position:0% definitive inferences about those things 02:32:11.040 --> 02:32:13.490 align:start position:0% definitive inferences about those things unless<02:32:11.399> what<02:32:11.760> we<02:32:11.880> do<02:32:12.090> do<02:32:12.479> so<02:32:12.659> by<02:32:12.840> Americo<02:32:13.229> study 02:32:13.490 --> 02:32:13.500 align:start position:0% unless what we do do so by Americo study 02:32:13.500 --> 02:32:15.080 align:start position:0% unless what we do do so by Americo study in<02:32:13.619> which<02:32:13.739> case<02:32:14.010> it<02:32:14.310> would<02:32:14.579> be<02:32:14.609> a<02:32:14.729> probability 02:32:15.080 --> 02:32:15.090 align:start position:0% in which case it would be a probability 02:32:15.090 --> 02:32:20.030 align:start position:0% in which case it would be a probability distribution<02:32:16.880> cool<02:32:17.909> so<02:32:18.770> and<02:32:19.770> then<02:32:19.890> there's 02:32:20.030 --> 02:32:20.040 align:start position:0% distribution cool so and then there's 02:32:20.040 --> 02:32:23.899 align:start position:0% distribution cool so and then there's also<02:32:20.279> this<02:32:20.489> big<02:32:20.729> challenge<02:32:20.970> of<02:32:22.909> formalizing 02:32:23.899 --> 02:32:23.909 align:start position:0% also this big challenge of formalizing 02:32:23.909 --> 02:32:26.479 align:start position:0% also this big challenge of formalizing that<02:32:24.060> irrationality<02:32:24.840> so<02:32:25.079> so<02:32:25.739> why<02:32:26.010> do<02:32:26.069> I<02:32:26.220> call 02:32:26.479 --> 02:32:26.489 align:start position:0% that irrationality so so why do I call 02:32:26.489 --> 02:32:28.519 align:start position:0% that irrationality so so why do I call this<02:32:26.609> humans<02:32:27.029> and<02:32:27.329> machines<02:32:27.510> in<02:32:27.869> humans<02:32:28.380> it's 02:32:28.519 --> 02:32:28.529 align:start position:0% this humans and machines in humans it's 02:32:28.529 --> 02:32:30.510 align:start position:0% this humans and machines in humans it's basically<02:32:28.979> human<02:32:29.729> designers 02:32:30.510 --> 02:32:30.520 align:start position:0% basically human designers 02:32:30.520 --> 02:32:32.729 align:start position:0% basically human designers designing<02:32:30.970> machine<02:32:31.390> systems<02:32:31.839> that<02:32:32.439> are 02:32:32.729 --> 02:32:32.739 align:start position:0% designing machine systems that are 02:32:32.739 --> 02:32:35.609 align:start position:0% designing machine systems that are supposed<02:32:33.640> to<02:32:33.729> coordinate<02:32:33.970> other<02:32:34.299> humans<02:32:34.720> and 02:32:35.609 --> 02:32:35.619 align:start position:0% supposed to coordinate other humans and 02:32:35.619 --> 02:32:37.800 align:start position:0% supposed to coordinate other humans and the<02:32:36.459> big<02:32:36.609> challenge<02:32:37.029> with<02:32:37.209> that<02:32:37.239> or<02:32:37.600> mapping 02:32:37.800 --> 02:32:37.810 align:start position:0% the big challenge with that or mapping 02:32:37.810 --> 02:32:39.840 align:start position:0% the big challenge with that or mapping through<02:32:38.649> this<02:32:38.859> is<02:32:39.009> formalizing<02:32:39.669> about 02:32:39.840 --> 02:32:39.850 align:start position:0% through this is formalizing about 02:32:39.850 --> 02:32:41.609 align:start position:0% through this is formalizing about irrationality<02:32:40.569> and<02:32:40.600> the<02:32:40.839> way<02:32:40.989> we<02:32:41.199> can<02:32:41.379> do<02:32:41.470> that 02:32:41.609 --> 02:32:41.619 align:start position:0% irrationality and the way we can do that 02:32:41.619 --> 02:32:44.729 align:start position:0% irrationality and the way we can do that is<02:32:41.829> two<02:32:42.640> ways<02:32:42.819> one<02:32:43.419> can<02:32:43.720> use<02:32:43.930> Gibbs<02:32:44.560> free 02:32:44.729 --> 02:32:44.739 align:start position:0% is two ways one can use Gibbs free 02:32:44.739 --> 02:32:47.189 align:start position:0% is two ways one can use Gibbs free energy<02:32:45.129> in<02:32:45.909> which<02:32:46.089> case<02:32:46.449> you<02:32:46.689> look<02:32:46.810> at<02:32:46.959> it<02:32:47.049> as<02:32:47.169> a 02:32:47.189 --> 02:32:47.199 align:start position:0% energy in which case you look at it as a 02:32:47.199 --> 02:32:49.529 align:start position:0% energy in which case you look at it as a constrained<02:32:47.680> optimization<02:32:48.100> or<02:32:48.640> you<02:32:49.359> can 02:32:49.529 --> 02:32:49.539 align:start position:0% constrained optimization or you can 02:32:49.539 --> 02:32:51.029 align:start position:0% constrained optimization or you can measure<02:32:49.749> effectiveness<02:32:50.439> if<02:32:50.709> it<02:32:50.799> gives<02:32:50.949> you 02:32:51.029 --> 02:32:51.039 align:start position:0% measure effectiveness if it gives you 02:32:51.039 --> 02:32:52.739 align:start position:0% measure effectiveness if it gives you got<02:32:51.189> payout<02:32:51.489> divergence<02:32:52.060> which<02:32:52.239> is<02:32:52.390> basically 02:32:52.739 --> 02:32:52.749 align:start position:0% got payout divergence which is basically 02:32:52.749 --> 02:32:56.789 align:start position:0% got payout divergence which is basically the<02:32:53.409> Delta<02:32:53.799> between<02:32:53.979> and<02:32:55.049> expected<02:32:56.049> outcome 02:32:56.789 --> 02:32:56.799 align:start position:0% the Delta between and expected outcome 02:32:56.799 --> 02:33:00.719 align:start position:0% the Delta between and expected outcome versus<02:32:57.549> the<02:32:58.149> true<02:32:58.509> outcome<02:32:58.779> of<02:32:59.199> the<02:32:59.289> game<02:32:59.729> and 02:33:00.719 --> 02:33:00.729 align:start position:0% versus the true outcome of the game and 02:33:00.729 --> 02:33:02.369 align:start position:0% versus the true outcome of the game and the<02:33:01.029> constraint<02:33:01.359> optimization<02:33:01.449> is<02:33:02.020> basically 02:33:02.369 --> 02:33:02.379 align:start position:0% the constraint optimization is basically 02:33:02.379 --> 02:33:03.869 align:start position:0% the constraint optimization is basically you<02:33:02.529> end<02:33:02.619> up<02:33:02.949> at<02:33:03.129> the<02:33:03.159> constraint 02:33:03.869 --> 02:33:03.879 align:start position:0% you end up at the constraint 02:33:03.879 --> 02:33:06.179 align:start position:0% you end up at the constraint it's<02:33:03.999> a<02:33:04.060> compute<02:33:04.359> power<02:33:04.509> that<02:33:05.259> of<02:33:05.499> the<02:33:05.770> agent 02:33:06.179 --> 02:33:06.189 align:start position:0% it's a compute power that of the agent 02:33:06.189 --> 02:33:09.659 align:start position:0% it's a compute power that of the agent that<02:33:06.220> means<02:33:06.669> kind<02:33:06.909> of<02:33:07.060> calculation<02:33:08.459> and<02:33:09.459> then 02:33:09.659 --> 02:33:09.669 align:start position:0% that means kind of calculation and then 02:33:09.669 --> 02:33:11.880 align:start position:0% that means kind of calculation and then we<02:33:09.939> also<02:33:10.119> have<02:33:10.449> the<02:33:10.930> complexity<02:33:11.470> of<02:33:11.499> value 02:33:11.880 --> 02:33:11.890 align:start position:0% we also have the complexity of value 02:33:11.890 --> 02:33:13.319 align:start position:0% we also have the complexity of value this<02:33:12.100> is<02:33:12.220> basically<02:33:12.579> an<02:33:12.789> argument<02:33:13.149> saying 02:33:13.319 --> 02:33:13.329 align:start position:0% this is basically an argument saying 02:33:13.329 --> 02:33:17.429 align:start position:0% this is basically an argument saying that<02:33:13.479> you<02:33:14.049> cannot<02:33:14.350> represent<02:33:15.159> value<02:33:16.259> that<02:33:17.259> a 02:33:17.429 --> 02:33:17.439 align:start position:0% that you cannot represent value that a 02:33:17.439 --> 02:33:19.349 align:start position:0% that you cannot represent value that a human<02:33:17.890> has<02:33:17.919> or<02:33:18.430> what<02:33:18.609> a<02:33:18.640> human<02:33:18.999> body<02:33:19.149> is 02:33:19.349 --> 02:33:19.359 align:start position:0% human has or what a human body is 02:33:19.359 --> 02:33:21.719 align:start position:0% human has or what a human body is mathematically<02:33:20.049> and<02:33:20.319> thus<02:33:20.799> it<02:33:21.009> becomes<02:33:21.369> hard 02:33:21.719 --> 02:33:21.729 align:start position:0% mathematically and thus it becomes hard 02:33:21.729 --> 02:33:26.550 align:start position:0% mathematically and thus it becomes hard to<02:33:21.989> implement<02:33:22.989> that<02:33:23.079> in<02:33:23.229> a<02:33:23.319> simulation<02:33:25.560> cool 02:33:26.550 --> 02:33:26.560 align:start position:0% to implement that in a simulation cool 02:33:26.560 --> 02:33:29.579 align:start position:0% to implement that in a simulation cool so<02:33:26.890> so<02:33:27.249> we're<02:33:27.850> essentially<02:33:28.539> when<02:33:29.439> we're 02:33:29.579 --> 02:33:29.589 align:start position:0% so so we're essentially when we're 02:33:29.589 --> 02:33:30.840 align:start position:0% so so we're essentially when we're talking<02:33:29.739> about<02:33:29.949> these<02:33:30.189> kinds<02:33:30.430> of<02:33:30.520> systems 02:33:30.840 --> 02:33:30.850 align:start position:0% talking about these kinds of systems 02:33:30.850 --> 02:33:33.179 align:start position:0% talking about these kinds of systems they<02:33:30.999> do<02:33:31.270> not<02:33:31.600> a<02:33:31.629> scale-free<02:33:32.140> networks<02:33:32.649> being 02:33:33.179 --> 02:33:33.189 align:start position:0% they do not a scale-free networks being 02:33:33.189 --> 02:33:35.670 align:start position:0% they do not a scale-free networks being their<02:33:33.850> networks<02:33:34.239> where<02:33:34.509> 80%<02:33:35.020> of<02:33:35.439> the<02:33:35.529> nodes 02:33:35.670 --> 02:33:35.680 align:start position:0% their networks where 80% of the nodes 02:33:35.680 --> 02:33:38.310 align:start position:0% their networks where 80% of the nodes for<02:33:35.949> 20%<02:33:36.339> of<02:33:36.549> possession<02:33:37.029> and<02:33:37.149> 20%<02:33:37.749> of<02:33:37.810> those 02:33:38.310 --> 02:33:38.320 align:start position:0% for 20% of possession and 20% of those 02:33:38.320 --> 02:33:41.820 align:start position:0% for 20% of possession and 20% of those the<02:33:38.950> connections<02:33:39.660> and<02:33:40.660> there<02:33:41.350> are<02:33:41.440> ways<02:33:41.620> in 02:33:41.820 --> 02:33:41.830 align:start position:0% the connections and there are ways in 02:33:41.830 --> 02:33:43.920 align:start position:0% the connections and there are ways in which<02:33:41.980> these<02:33:42.550> networks<02:33:43.000> can<02:33:43.180> be<02:33:43.360> resilient 02:33:43.920 --> 02:33:43.930 align:start position:0% which these networks can be resilient 02:33:43.930 --> 02:33:45.720 align:start position:0% which these networks can be resilient but<02:33:44.560> first<02:33:44.740> we<02:33:44.860> have<02:33:45.010> to<02:33:45.040> define<02:33:45.250> resilience 02:33:45.720 --> 02:33:45.730 align:start position:0% but first we have to define resilience 02:33:45.730 --> 02:33:49.430 align:start position:0% but first we have to define resilience so<02:33:46.390> resilience<02:33:47.021> we<02:33:47.260> can<02:33:47.440> measure<02:33:48.010> it<02:33:48.220> us<02:33:48.430> up<02:33:48.700> as 02:33:49.430 --> 02:33:49.440 align:start position:0% so resilience we can measure it us up as 02:33:49.440 --> 02:33:52.710 align:start position:0% so resilience we can measure it us up as either<02:33:50.440> of<02:33:50.980> the<02:33:51.670> ability<02:33:52.000> to<02:33:52.030> not<02:33:52.510> be 02:33:52.710 --> 02:33:52.720 align:start position:0% either of the ability to not be 02:33:52.720 --> 02:33:55.020 align:start position:0% either of the ability to not be fragmented<02:33:53.110> or<02:33:53.470> the<02:33:54.370> ability<02:33:54.670> to<02:33:54.700> tolerate 02:33:55.020 --> 02:33:55.030 align:start position:0% fragmented or the ability to tolerate 02:33:55.030 --> 02:33:57.660 align:start position:0% fragmented or the ability to tolerate faults<02:33:55.480> or<02:33:55.720> the<02:33:56.560> looking<02:33:56.920> to<02:33:57.010> survive<02:33:57.310> attacks 02:33:57.660 --> 02:33:57.670 align:start position:0% faults or the looking to survive attacks 02:33:57.670 --> 02:33:59.880 align:start position:0% faults or the looking to survive attacks so<02:33:58.240> we<02:33:58.780> are<02:33:58.900> not<02:33:58.990> going<02:33:59.170> to<02:33:59.290> consider<02:33:59.560> around 02:33:59.880 --> 02:33:59.890 align:start position:0% so we are not going to consider around 02:33:59.890 --> 02:34:01.770 align:start position:0% so we are not going to consider around the<02:33:59.980> networks<02:34:00.310> think<02:34:00.490> of<02:34:00.610> usually<02:34:00.940> ball 02:34:01.770 --> 02:34:01.780 align:start position:0% the networks think of usually ball 02:34:01.780 --> 02:34:03.300 align:start position:0% the networks think of usually ball chains<02:34:02.050> are<02:34:02.290> most<02:34:02.590> and<02:34:02.740> largest<02:34:03.100> scale-free 02:34:03.300 --> 02:34:03.310 align:start position:0% chains are most and largest scale-free 02:34:03.310 --> 02:34:06.590 align:start position:0% chains are most and largest scale-free networks<02:34:03.930> so<02:34:04.930> with<02:34:05.080> the<02:34:05.170> scale-free<02:34:05.470> networks 02:34:06.590 --> 02:34:06.600 align:start position:0% networks so with the scale-free networks 02:34:06.600 --> 02:34:09.330 align:start position:0% networks so with the scale-free networks the<02:34:07.600> attack<02:34:08.140> survivability<02:34:08.680> of<02:34:08.830> watching<02:34:09.220> is 02:34:09.330 --> 02:34:09.340 align:start position:0% the attack survivability of watching is 02:34:09.340 --> 02:34:11.761 align:start position:0% the attack survivability of watching is pretty<02:34:09.610> pretty<02:34:10.030> bad<02:34:10.330> so<02:34:10.930> that's<02:34:11.200> the<02:34:11.470> that's 02:34:11.761 --> 02:34:11.771 align:start position:0% pretty pretty bad so that's the that's 02:34:11.771 --> 02:34:12.960 align:start position:0% pretty pretty bad so that's the that's the<02:34:12.010> one<02:34:12.130> thing<02:34:12.340> that<02:34:12.521> we<02:34:12.640> should<02:34:12.790> consider 02:34:12.960 --> 02:34:12.970 align:start position:0% the one thing that we should consider 02:34:12.970 --> 02:34:15.240 align:start position:0% the one thing that we should consider with<02:34:13.390> with<02:34:13.510> thinking<02:34:13.840> about<02:34:14.021> resilience<02:34:14.560> of<02:34:14.740> a 02:34:15.240 --> 02:34:15.250 align:start position:0% with with thinking about resilience of a 02:34:15.250 --> 02:34:16.680 align:start position:0% with with thinking about resilience of a block<02:34:15.430> chain<02:34:15.670> so<02:34:15.910> basically<02:34:16.330> attack 02:34:16.680 --> 02:34:16.690 align:start position:0% block chain so basically attack 02:34:16.690 --> 02:34:18.780 align:start position:0% block chain so basically attack survivability<02:34:17.260> is<02:34:17.800> the<02:34:18.100> fact<02:34:18.340> that<02:34:18.430> since 02:34:18.780 --> 02:34:18.790 align:start position:0% survivability is the fact that since 02:34:18.790 --> 02:34:20.970 align:start position:0% survivability is the fact that since since<02:34:19.570> there<02:34:19.750> are<02:34:19.840> such<02:34:20.021> few<02:34:20.410> nodes<02:34:20.590> there 02:34:20.970 --> 02:34:20.980 align:start position:0% since there are such few nodes there 02:34:20.980 --> 02:34:22.860 align:start position:0% since there are such few nodes there that<02:34:21.460> possess<02:34:21.910> most<02:34:22.180> number<02:34:22.480> of<02:34:22.510> connections 02:34:22.860 --> 02:34:22.870 align:start position:0% that possess most number of connections 02:34:22.870 --> 02:34:24.990 align:start position:0% that possess most number of connections then<02:34:23.620> if<02:34:23.740> you<02:34:23.830> attack<02:34:24.070> those<02:34:24.310> notes<02:34:24.610> than<02:34:24.880> the 02:34:24.990 --> 02:34:25.000 align:start position:0% then if you attack those notes than the 02:34:25.000 --> 02:34:26.580 align:start position:0% then if you attack those notes than the entire<02:34:25.271> system<02:34:25.660> essentially<02:34:25.990> fails 02:34:26.580 --> 02:34:26.590 align:start position:0% entire system essentially fails 02:34:26.590 --> 02:34:28.650 align:start position:0% entire system essentially fails however<02:34:27.190> with<02:34:27.460> regards<02:34:27.790> to<02:34:27.820> network 02:34:28.650 --> 02:34:28.660 align:start position:0% however with regards to network 02:34:28.660 --> 02:34:31.011 align:start position:0% however with regards to network fragmentation<02:34:29.470> and<02:34:29.771> fault<02:34:30.070> tolerance 02:34:31.011 --> 02:34:31.021 align:start position:0% fragmentation and fault tolerance 02:34:31.021 --> 02:34:34.380 align:start position:0% fragmentation and fault tolerance because<02:34:32.021> of<02:34:32.170> this<02:34:32.290> property<02:34:32.590> of<02:34:33.100> a<02:34:33.700> few<02:34:34.210> nodes 02:34:34.380 --> 02:34:34.390 align:start position:0% because of this property of a few nodes 02:34:34.390 --> 02:34:37.400 align:start position:0% because of this property of a few nodes having<02:34:34.870> high<02:34:35.470> degree<02:34:35.920> of<02:34:35.950> connections<02:34:36.490> the 02:34:37.400 --> 02:34:37.410 align:start position:0% having high degree of connections the 02:34:37.410 --> 02:34:40.410 align:start position:0% having high degree of connections the network<02:34:38.410> within<02:34:38.620> would<02:34:39.190> essentially<02:34:40.090> not 02:34:40.410 --> 02:34:40.420 align:start position:0% network within would essentially not 02:34:40.420 --> 02:34:44.040 align:start position:0% network within would essentially not really<02:34:40.810> change<02:34:41.170> if<02:34:41.530> you<02:34:42.510> remove<02:34:43.510> a<02:34:43.630> couple<02:34:43.960> of 02:34:44.040 --> 02:34:44.050 align:start position:0% really change if you remove a couple of 02:34:44.050 --> 02:34:46.170 align:start position:0% really change if you remove a couple of notes<02:34:44.230> about<02:34:44.500> the<02:34:44.650> system<02:34:45.040> or<02:34:45.430> if<02:34:45.850> a<02:34:46.000> few 02:34:46.170 --> 02:34:46.180 align:start position:0% notes about the system or if a few 02:34:46.180 --> 02:34:49.970 align:start position:0% notes about the system or if a few random<02:34:46.360> notes<02:34:46.780> get<02:34:47.110> influenced<02:34:47.830> are<02:34:48.010> attacked 02:34:49.970 --> 02:34:49.980 align:start position:0% random notes get influenced are attacked 02:34:49.980 --> 02:34:55.560 align:start position:0% random notes get influenced are attacked cool<02:34:50.980> so<02:34:51.280> this<02:34:51.970> is<02:34:52.090> awesome<02:34:52.480> and<02:34:53.160> he<02:34:54.160> in<02:34:54.910> 500<02:34:55.540> BC 02:34:55.560 --> 02:34:55.570 align:start position:0% cool so this is awesome and he in 500 BC 02:34:55.570 --> 02:34:59.610 align:start position:0% cool so this is awesome and he in 500 BC he<02:34:56.670> proposed<02:34:57.670> South<02:34:58.450> organization<02:34:59.140> and<02:34:59.380> South 02:34:59.610 --> 02:34:59.620 align:start position:0% he proposed South organization and South 02:34:59.620 --> 02:35:04.620 align:start position:0% he proposed South organization and South governance<02:35:02.640> so<02:35:03.640> how<02:35:04.030> do<02:35:04.090> you<02:35:04.240> hide<02:35:04.450> me 02:35:04.620 --> 02:35:04.630 align:start position:0% governance so how do you hide me 02:35:04.630 --> 02:35:09.450 align:start position:0% governance so how do you hide me self-organized<02:35:05.230> so<02:35:06.750> we<02:35:07.750> aren't<02:35:08.710> very<02:35:09.130> good<02:35:09.250> at 02:35:09.450 --> 02:35:09.460 align:start position:0% self-organized so we aren't very good at 02:35:09.460 --> 02:35:11.730 align:start position:0% self-organized so we aren't very good at some<02:35:09.760> organization<02:35:10.450> as<02:35:10.690> we<02:35:10.960> have<02:35:11.140> observed<02:35:11.350> in 02:35:11.730 --> 02:35:11.740 align:start position:0% some organization as we have observed in 02:35:11.740 --> 02:35:13.890 align:start position:0% some organization as we have observed in current<02:35:12.070> systems<02:35:12.370> so<02:35:13.300> but<02:35:13.540> then<02:35:13.660> there<02:35:13.810> are 02:35:13.890 --> 02:35:13.900 align:start position:0% current systems so but then there are 02:35:13.900 --> 02:35:15.840 align:start position:0% current systems so but then there are ways<02:35:14.140> in<02:35:14.170> which<02:35:14.380> we<02:35:14.530> can<02:35:14.771> self-organize<02:35:15.070> and 02:35:15.840 --> 02:35:15.850 align:start position:0% ways in which we can self-organize and 02:35:15.850 --> 02:35:18.270 align:start position:0% ways in which we can self-organize and we<02:35:16.630> can<02:35:16.780> also<02:35:16.960> guide<02:35:17.260> it<02:35:17.470> so<02:35:17.860> I<02:35:17.890> have<02:35:18.070> to<02:35:18.160> give 02:35:18.270 --> 02:35:18.280 align:start position:0% we can also guide it so I have to give 02:35:18.280 --> 02:35:20.870 align:start position:0% we can also guide it so I have to give credit<02:35:18.640> to<02:35:18.670> my<02:35:19.030> friend<02:35:19.360> Virgil<02:35:19.720> Griffith<02:35:20.021> for 02:35:20.870 --> 02:35:20.880 align:start position:0% credit to my friend Virgil Griffith for 02:35:20.880 --> 02:35:23.380 align:start position:0% credit to my friend Virgil Griffith for for<02:35:21.880> introducing<02:35:22.330> me<02:35:22.510> to<02:35:22.600> the<02:35:22.780> concept 02:35:23.380 --> 02:35:23.390 align:start position:0% for introducing me to the concept 02:35:23.390 --> 02:35:25.420 align:start position:0% for introducing me to the concept organization<02:35:24.080> which<02:35:24.260> first<02:35:24.800> implemented<02:35:25.040> in 02:35:25.420 --> 02:35:25.430 align:start position:0% organization which first implemented in 02:35:25.430 --> 02:35:27.550 align:start position:0% organization which first implemented in terms<02:35:25.670> of<02:35:25.909> studying<02:35:26.840> some<02:35:27.020> information 02:35:27.550 --> 02:35:27.560 align:start position:0% terms of studying some information 02:35:27.560 --> 02:35:30.960 align:start position:0% terms of studying some information theoretic<02:35:27.739> systems<02:35:28.479> but<02:35:29.479> essentially 02:35:30.960 --> 02:35:30.970 align:start position:0% theoretic systems but essentially 02:35:30.970 --> 02:35:34.210 align:start position:0% theoretic systems but essentially self-organization<02:35:31.989> can<02:35:32.989> be<02:35:33.140> guided<02:35:33.409> in<02:35:33.770> three 02:35:34.210 --> 02:35:34.220 align:start position:0% self-organization can be guided in three 02:35:34.220 --> 02:35:37.649 align:start position:0% self-organization can be guided in three ways<02:35:34.370> so<02:35:34.790> either<02:35:35.000> you<02:35:35.330> can<02:35:35.649> talk<02:35:36.649> about<02:35:36.979> or 02:35:37.649 --> 02:35:37.659 align:start position:0% ways so either you can talk about or 02:35:37.659 --> 02:35:41.110 align:start position:0% ways so either you can talk about or change<02:35:38.659> the<02:35:38.779> change<02:35:39.739> the<02:35:39.979> control<02:35:40.699> parameter 02:35:41.110 --> 02:35:41.120 align:start position:0% change the change the control parameter 02:35:41.120 --> 02:35:43.780 align:start position:0% change the change the control parameter of<02:35:41.239> this<02:35:41.390> is<02:35:41.510> due<02:35:41.630> in<02:35:41.810> which<02:35:41.960> case<02:35:42.229> the<02:35:42.890> X<02:35:43.189> will 02:35:43.780 --> 02:35:43.790 align:start position:0% of this is due in which case the X will 02:35:43.790 --> 02:35:46.570 align:start position:0% of this is due in which case the X will be<02:35:43.970> made<02:35:44.239> and<02:35:44.479> just<02:35:44.560> another<02:35:45.560> X<02:35:46.250> which<02:35:46.460> is 02:35:46.570 --> 02:35:46.580 align:start position:0% be made and just another X which is 02:35:46.580 --> 02:35:48.160 align:start position:0% be made and just another X which is better<02:35:46.760> so<02:35:47.270> earlier<02:35:47.569> I<02:35:47.659> explained<02:35:48.050> it 02:35:48.160 --> 02:35:48.170 align:start position:0% better so earlier I explained it 02:35:48.170 --> 02:35:49.960 align:start position:0% better so earlier I explained it actually<02:35:48.439> graphically<02:35:48.859> I<02:35:48.890> think<02:35:49.130> that<02:35:49.250> that 02:35:49.960 --> 02:35:49.970 align:start position:0% actually graphically I think that that 02:35:49.970 --> 02:35:52.870 align:start position:0% actually graphically I think that that might<02:35:50.149> help<02:35:50.840> a<02:35:50.989> little<02:35:51.020> bit<02:35:51.319> better<02:35:51.880> so 02:35:52.870 --> 02:35:52.880 align:start position:0% might help a little bit better so 02:35:52.880 --> 02:35:55.689 align:start position:0% might help a little bit better so essentially<02:35:53.449> if<02:35:53.810> you<02:35:54.140> have<02:35:54.170> a<02:35:54.710> system<02:35:55.340> where 02:35:55.689 --> 02:35:55.699 align:start position:0% essentially if you have a system where 02:35:55.699 --> 02:35:58.360 align:start position:0% essentially if you have a system where it<02:35:56.120> has<02:35:56.359> been<02:35:56.930> stuck<02:35:57.260> in<02:35:57.470> a<02:35:57.560> local<02:35:57.680> minima<02:35:58.159> and 02:35:58.360 --> 02:35:58.370 align:start position:0% it has been stuck in a local minima and 02:35:58.370 --> 02:36:00.250 align:start position:0% it has been stuck in a local minima and it's<02:35:58.520> just<02:35:58.699> not<02:35:58.819> even<02:35:59.060> know<02:35:59.210> from<02:35:59.420> here<02:35:59.630> you 02:36:00.250 --> 02:36:00.260 align:start position:0% it's just not even know from here you 02:36:00.260 --> 02:36:02.860 align:start position:0% it's just not even know from here you just<02:36:00.290> take<02:36:00.649> this<02:36:00.830> and<02:36:01.069> look<02:36:01.550> but<02:36:02.029> it<02:36:02.120> but<02:36:02.600> it<02:36:02.750> up 02:36:02.860 --> 02:36:02.870 align:start position:0% just take this and look but it but it up 02:36:02.870 --> 02:36:06.099 align:start position:0% just take this and look but it but it up here<02:36:03.140> so<02:36:03.710> so<02:36:04.430> that<02:36:04.609> get<02:36:04.760> system<02:36:05.120> goes<02:36:05.449> back<02:36:05.750> to 02:36:06.099 --> 02:36:06.109 align:start position:0% here so so that get system goes back to 02:36:06.109 --> 02:36:09.780 align:start position:0% here so so that get system goes back to that<02:36:06.920> Nam<02:36:07.100> except<02:36:07.399> better<02:36:07.609> that<02:36:08.180> are<02:36:08.300> more<02:36:08.569> or 02:36:09.780 --> 02:36:09.790 align:start position:0% that Nam except better that are more or 02:36:09.790 --> 02:36:15.280 align:start position:0% that Nam except better that are more or just<02:36:10.790> eat<02:36:11.420> that's<02:36:11.779> more<02:36:12.229> desirable<02:36:13.330> or<02:36:14.330> you 02:36:15.280 --> 02:36:15.290 align:start position:0% just eat that's more desirable or you 02:36:15.290 --> 02:36:16.960 align:start position:0% just eat that's more desirable or you can<02:36:15.439> have<02:36:15.739> or<02:36:16.100> you<02:36:16.250> can<02:36:16.399> actually<02:36:16.640> change<02:36:16.909> the 02:36:16.960 --> 02:36:16.970 align:start position:0% can have or you can actually change the 02:36:16.970 --> 02:36:19.870 align:start position:0% can have or you can actually change the function<02:36:17.479> itself<02:36:17.750> so<02:36:18.170> this<02:36:18.319> is<02:36:18.470> changing<02:36:18.920> X<02:36:19.220> or 02:36:19.870 --> 02:36:19.880 align:start position:0% function itself so this is changing X or 02:36:19.880 --> 02:36:22.960 align:start position:0% function itself so this is changing X or you<02:36:20.210> can<02:36:20.390> change<02:36:20.600> the<02:36:20.689> function<02:36:21.050> that<02:36:21.970> governs 02:36:22.960 --> 02:36:22.970 align:start position:0% you can change the function that governs 02:36:22.970 --> 02:36:27.010 align:start position:0% you can change the function that governs X<02:36:23.560> so<02:36:24.560> instead<02:36:25.069> of<02:36:25.130> having<02:36:25.850> it<02:36:26.029> like<02:36:26.210> this<02:36:26.449> you 02:36:27.010 --> 02:36:27.020 align:start position:0% X so instead of having it like this you 02:36:27.020 --> 02:36:29.590 align:start position:0% X so instead of having it like this you can<02:36:27.050> transform<02:36:27.739> it<02:36:27.949> to<02:36:28.189> something<02:36:28.909> like<02:36:29.420> this 02:36:29.590 --> 02:36:29.600 align:start position:0% can transform it to something like this 02:36:29.600 --> 02:36:32.139 align:start position:0% can transform it to something like this or<02:36:29.899> any<02:36:30.620> other<02:36:30.920> function<02:36:31.189> so<02:36:31.550> isn't<02:36:31.850> to<02:36:31.970> you 02:36:32.139 --> 02:36:32.149 align:start position:0% or any other function so isn't to you 02:36:32.149 --> 02:36:33.580 align:start position:0% or any other function so isn't to you you<02:36:32.390> would<02:36:32.510> change<02:36:32.689> the<02:36:32.810> dynamics<02:36:33.350> which 02:36:33.580 --> 02:36:33.590 align:start position:0% you would change the dynamics which 02:36:33.590 --> 02:36:36.189 align:start position:0% you would change the dynamics which governed<02:36:34.340> any<02:36:34.609> specific<02:36:35.420> control<02:36:35.750> parameter 02:36:36.189 --> 02:36:36.199 align:start position:0% governed any specific control parameter 02:36:36.199 --> 02:36:38.559 align:start position:0% governed any specific control parameter and<02:36:36.949> you<02:36:37.069> can<02:36:37.220> change<02:36:37.489> this<02:36:37.729> for<02:36:38.029> any<02:36:38.239> number 02:36:38.559 --> 02:36:38.569 align:start position:0% and you can change this for any number 02:36:38.569 --> 02:36:40.510 align:start position:0% and you can change this for any number of<02:36:38.659> functions<02:36:38.810> or<02:36:39.229> you<02:36:39.979> can<02:36:40.159> change<02:36:40.399> the 02:36:40.510 --> 02:36:40.520 align:start position:0% of functions or you can change the 02:36:40.520 --> 02:36:42.880 align:start position:0% of functions or you can change the entire<02:36:40.850> structure<02:36:41.359> of<02:36:41.750> the<02:36:42.050> self<02:36:42.529> governing 02:36:42.880 --> 02:36:42.890 align:start position:0% entire structure of the self governing 02:36:42.890 --> 02:36:45.429 align:start position:0% entire structure of the self governing system<02:36:43.220> itself<02:36:43.520> in<02:36:43.909> which<02:36:44.180> case<02:36:44.479> you<02:36:44.720> you 02:36:45.429 --> 02:36:45.439 align:start position:0% system itself in which case you you 02:36:45.439 --> 02:36:48.570 align:start position:0% system itself in which case you you change<02:36:45.800> the<02:36:46.159> set<02:36:46.399> of<02:36:46.550> all<02:36:46.790> the<02:36:47.510> functions<02:36:47.930> that 02:36:48.570 --> 02:36:48.580 align:start position:0% change the set of all the functions that 02:36:48.580 --> 02:36:51.729 align:start position:0% change the set of all the functions that that<02:36:49.580> constitute<02:36:50.390> the<02:36:50.540> government<02:36:51.020> the 02:36:51.729 --> 02:36:51.739 align:start position:0% that constitute the government the 02:36:51.739 --> 02:36:54.040 align:start position:0% that constitute the government the governance<02:36:52.130> model<02:36:52.489> so<02:36:52.909> all<02:36:53.270> the<02:36:53.569> policies 02:36:54.040 --> 02:36:54.050 align:start position:0% governance model so all the policies 02:36:54.050 --> 02:36:55.809 align:start position:0% governance model so all the policies that<02:36:54.260> are<02:36:54.439> defined<02:36:54.949> within<02:36:55.159> the<02:36:55.279> system<02:36:55.640> can 02:36:55.809 --> 02:36:55.819 align:start position:0% that are defined within the system can 02:36:55.819 --> 02:36:58.030 align:start position:0% that are defined within the system can be<02:36:55.850> changed<02:36:56.000> and<02:36:56.449> that<02:36:56.840> case<02:36:57.290> is<02:36:57.319> extremely 02:36:58.030 --> 02:36:58.040 align:start position:0% be changed and that case is extremely 02:36:58.040 --> 02:37:01.990 align:start position:0% be changed and that case is extremely limiting<02:36:58.670> in<02:36:59.449> the<02:36:59.600> sense<02:36:59.810> that<02:36:59.930> it<02:37:00.350> will<02:37:01.000> not 02:37:01.990 --> 02:37:02.000 align:start position:0% limiting in the sense that it will not 02:37:02.000 --> 02:37:04.149 align:start position:0% limiting in the sense that it will not allow<02:37:02.390> for<02:37:02.449> you<02:37:03.050> to<02:37:03.229> see<02:37:03.439> emergent<02:37:03.890> effects 02:37:04.149 --> 02:37:04.159 align:start position:0% allow for you to see emergent effects 02:37:04.159 --> 02:37:05.291 align:start position:0% allow for you to see emergent effects because<02:37:04.520> your<02:37:04.640> constant 02:37:05.291 --> 02:37:05.301 align:start position:0% because your constant 02:37:05.301 --> 02:37:06.841 align:start position:0% because your constant want<02:37:05.451> to<02:37:05.541> find<02:37:05.721> the<02:37:05.900> way<02:37:05.991> in<02:37:06.141> which<02:37:06.320> the<02:37:06.501> coming 02:37:06.841 --> 02:37:06.851 align:start position:0% want to find the way in which the coming 02:37:06.851 --> 02:37:10.271 align:start position:0% want to find the way in which the coming governance<02:37:07.851> model<02:37:08.181> is<02:37:08.391> worse<02:37:09.351> with<02:37:09.681> regards 02:37:10.271 --> 02:37:10.281 align:start position:0% governance model is worse with regards 02:37:10.281 --> 02:37:12.640 align:start position:0% governance model is worse with regards to<02:37:10.341> just<02:37:10.581> interrupts<02:37:11.091> you<02:37:11.631> can<02:37:11.871> you<02:37:12.230> can<02:37:12.440> be 02:37:12.640 --> 02:37:12.650 align:start position:0% to just interrupts you can you can be 02:37:12.650 --> 02:37:14.680 align:start position:0% to just interrupts you can you can be able<02:37:12.891> you<02:37:13.190> can<02:37:13.221> still<02:37:13.551> observe<02:37:14.150> quite<02:37:14.451> a<02:37:14.480> lot 02:37:14.680 --> 02:37:14.690 align:start position:0% able you can still observe quite a lot 02:37:14.690 --> 02:37:17.051 align:start position:0% able you can still observe quite a lot of<02:37:14.781> governance<02:37:15.141> and<02:37:15.320> flex<02:37:15.561> or<02:37:16.521> emergent 02:37:17.051 --> 02:37:17.061 align:start position:0% of governance and flex or emergent 02:37:17.061 --> 02:37:21.011 align:start position:0% of governance and flex or emergent effects<02:37:17.501> despite<02:37:18.501> there<02:37:18.831> being<02:37:19.360> a<02:37:20.360> little<02:37:20.900> bit 02:37:21.011 --> 02:37:21.021 align:start position:0% effects despite there being a little bit 02:37:21.021 --> 02:37:23.521 align:start position:0% effects despite there being a little bit of<02:37:21.230> intervention<02:37:21.891> within<02:37:22.161> the<02:37:22.251> systems<02:37:22.610> so 02:37:23.521 --> 02:37:23.531 align:start position:0% of intervention within the systems so 02:37:23.531 --> 02:37:25.930 align:start position:0% of intervention within the systems so those<02:37:24.531> are<02:37:24.711> do<02:37:25.131> you<02:37:25.161> ways<02:37:25.400> in<02:37:25.551> which<02:37:25.671> you<02:37:25.820> can 02:37:25.930 --> 02:37:25.940 align:start position:0% those are do you ways in which you can 02:37:25.940 --> 02:37:28.241 align:start position:0% those are do you ways in which you can guide<02:37:26.721> the<02:37:27.051> self-organizing<02:37:27.741> system<02:37:28.101> to 02:37:28.241 --> 02:37:28.251 align:start position:0% guide the self-organizing system to 02:37:28.251 --> 02:37:31.961 align:start position:0% guide the self-organizing system to better<02:37:28.461> to<02:37:29.451> better<02:37:29.601> States<02:37:30.021> or<02:37:30.291> to<02:37:30.911> having<02:37:31.911> a 02:37:31.961 --> 02:37:31.971 align:start position:0% better to better States or to having a 02:37:31.971 --> 02:37:35.711 align:start position:0% better to better States or to having a better<02:37:32.181> governance<02:37:32.541> model<02:37:34.480> okay<02:37:35.480> cool 02:37:35.711 --> 02:37:35.721 align:start position:0% better governance model okay cool 02:37:35.721 --> 02:37:40.591 align:start position:0% better governance model okay cool remember<02:37:36.201> this<02:37:36.381> guy<02:37:37.301> so<02:37:39.011> so<02:37:40.011> think<02:37:40.371> about 02:37:40.591 --> 02:37:40.601 align:start position:0% remember this guy so so think about 02:37:40.601 --> 02:37:44.171 align:start position:0% remember this guy so so think about guiding<02:37:41.601> the<02:37:41.781> process<02:37:42.320> in<02:37:42.471> which<02:37:43.001> systems<02:37:44.001> can 02:37:44.171 --> 02:37:44.181 align:start position:0% guiding the process in which systems can 02:37:44.181 --> 02:37:46.571 align:start position:0% guiding the process in which systems can be<02:37:44.331> governed<02:37:44.650> instead<02:37:45.650> of<02:37:45.771> allowing<02:37:46.251> it<02:37:46.551> to 02:37:46.571 --> 02:37:46.581 align:start position:0% be governed instead of allowing it to 02:37:46.581 --> 02:37:50.551 align:start position:0% be governed instead of allowing it to complete<02:37:47.150> the<02:37:47.501> self<02:37:48.501> organized<02:37:48.951> by<02:37:49.161> itself 02:37:50.551 --> 02:37:50.561 align:start position:0% complete the self organized by itself 02:37:50.561 --> 02:37:56.741 align:start position:0% complete the self organized by itself thank<02:37:51.561> you<02:37:54.070> my<02:37:55.070> name<02:37:55.251> is<02:37:55.400> I'm<02:37:56.241> a<02:37:56.421> software 02:37:56.741 --> 02:37:56.751 align:start position:0% thank you my name is I'm a software 02:37:56.751 --> 02:37:58.901 align:start position:0% thank you my name is I'm a software engineer<02:37:56.841> at<02:37:57.291> court<02:37:57.681> and<02:37:57.951> today<02:37:58.431> I'm<02:37:58.610> gonna<02:37:58.791> be 02:37:58.901 --> 02:37:58.911 align:start position:0% engineer at court and today I'm gonna be 02:37:58.911 --> 02:38:00.251 align:start position:0% engineer at court and today I'm gonna be talking<02:37:59.061> about<02:37:59.271> the<02:37:59.541> other<02:37:59.690> half<02:37:59.931> of 02:38:00.251 --> 02:38:00.261 align:start position:0% talking about the other half of 02:38:00.261 --> 02:38:02.861 align:start position:0% talking about the other half of governance<02:38:00.860> that<02:38:00.980> Lane<02:38:01.281> talks<02:38:01.581> about<02:38:01.871> whether 02:38:02.861 --> 02:38:02.871 align:start position:0% governance that Lane talks about whether 02:38:02.871 --> 02:38:04.781 align:start position:0% governance that Lane talks about whether that<02:38:03.291> watch<02:38:03.471> chain<02:38:03.771> can<02:38:04.011> provide<02:38:04.281> governance 02:38:04.781 --> 02:38:04.791 align:start position:0% that watch chain can provide governance 02:38:04.791 --> 02:38:05.830 align:start position:0% that watch chain can provide governance and<02:38:05.121> this 02:38:05.830 --> 02:38:05.840 align:start position:0% and this 02:38:05.840 --> 02:38:09.849 align:start position:0% and this they're<02:38:06.020> watching<02:38:06.470> and<02:38:06.680> provide<02:38:06.949> robot<02:38:08.859> so 02:38:09.849 --> 02:38:09.859 align:start position:0% they're watching and provide robot so 02:38:09.859 --> 02:38:12.819 align:start position:0% they're watching and provide robot so what<02:38:10.069> is<02:38:10.279> Google<02:38:10.609> bot<02:38:11.380> this<02:38:12.380> is<02:38:12.529> a<02:38:12.560> very 02:38:12.819 --> 02:38:12.829 align:start position:0% what is Google bot this is a very 02:38:12.829 --> 02:38:16.660 align:start position:0% what is Google bot this is a very nebulous<02:38:13.069> topic<02:38:13.939> so<02:38:14.390> there's<02:38:15.460> the<02:38:16.460> straight 02:38:16.660 --> 02:38:16.670 align:start position:0% nebulous topic so there's the straight 02:38:16.670 --> 02:38:18.580 align:start position:0% nebulous topic so there's the straight paper<02:38:16.909> called<02:38:17.300> micro<02:38:17.659> foundations<02:38:18.229> of<02:38:18.470> the 02:38:18.580 --> 02:38:18.590 align:start position:0% paper called micro foundations of the 02:38:18.590 --> 02:38:20.590 align:start position:0% paper called micro foundations of the world<02:38:18.770> walk<02:38:18.979> and<02:38:19.250> by<02:38:19.640> Gillian<02:38:20.000> Hatfield<02:38:20.390> and 02:38:20.590 --> 02:38:20.600 align:start position:0% world walk and by Gillian Hatfield and 02:38:20.600 --> 02:38:23.649 align:start position:0% world walk and by Gillian Hatfield and very<02:38:20.869> wet<02:38:21.079> nest<02:38:21.319> and<02:38:21.649> in<02:38:22.579> it<02:38:22.729> they<02:38:23.270> basically 02:38:23.649 --> 02:38:23.659 align:start position:0% very wet nest and in it they basically 02:38:23.659 --> 02:38:26.370 align:start position:0% very wet nest and in it they basically say<02:38:23.960> that<02:38:23.989> Lola<02:38:24.890> is<02:38:25.220> a<02:38:25.550> classification 02:38:26.370 --> 02:38:26.380 align:start position:0% say that Lola is a classification 02:38:26.380 --> 02:38:29.080 align:start position:0% say that Lola is a classification institution<02:38:27.380> so<02:38:28.010> what<02:38:28.250> they<02:38:28.369> mean<02:38:28.520> by<02:38:28.640> this<02:38:28.699> is 02:38:29.080 --> 02:38:29.090 align:start position:0% institution so what they mean by this is 02:38:29.090 --> 02:38:31.750 align:start position:0% institution so what they mean by this is like<02:38:29.270> it<02:38:29.869> takes<02:38:30.079> the<02:38:30.229> facts<02:38:30.590> of<02:38:30.680> the<02:38:30.739> case<02:38:30.890> it's 02:38:31.750 --> 02:38:31.760 align:start position:0% like it takes the facts of the case it's 02:38:31.760 --> 02:38:33.639 align:start position:0% like it takes the facts of the case it's it's<02:38:32.540> a<02:38:32.689> function<02:38:32.960> that<02:38:32.989> takes<02:38:33.170> the<02:38:33.260> facts<02:38:33.500> of 02:38:33.639 --> 02:38:33.649 align:start position:0% it's a function that takes the facts of 02:38:33.649 --> 02:38:34.899 align:start position:0% it's a function that takes the facts of the<02:38:33.739> case<02:38:33.859> and<02:38:34.159> then<02:38:34.310> it<02:38:34.430> outputs<02:38:34.489> our 02:38:34.899 --> 02:38:34.909 align:start position:0% the case and then it outputs our 02:38:34.909 --> 02:38:37.450 align:start position:0% the case and then it outputs our decision<02:38:35.300> so<02:38:36.020> in<02:38:36.350> this<02:38:36.500> case<02:38:36.710> it<02:38:36.890> would<02:38:36.979> be<02:38:37.040> is 02:38:37.450 --> 02:38:37.460 align:start position:0% decision so in this case it would be is 02:38:37.460 --> 02:38:39.880 align:start position:0% decision so in this case it would be is this<02:38:37.699> lawful<02:38:38.090> or<02:38:38.329> unlawful<02:38:38.359> is<02:38:39.140> this 02:38:39.880 --> 02:38:39.890 align:start position:0% this lawful or unlawful is this 02:38:39.890 --> 02:38:43.319 align:start position:0% this lawful or unlawful is this constitutional<02:38:40.369> or<02:38:40.760> unconstitutional<02:38:41.920> and 02:38:43.319 --> 02:38:43.329 align:start position:0% constitutional or unconstitutional and 02:38:43.329 --> 02:38:45.910 align:start position:0% constitutional or unconstitutional and they<02:38:44.329> submit<02:38:44.689> a<02:38:44.720> good<02:38:45.079> classification 02:38:45.910 --> 02:38:45.920 align:start position:0% they submit a good classification 02:38:45.920 --> 02:38:47.920 align:start position:0% they submit a good classification institution<02:38:46.489> it<02:38:46.729> has<02:38:47.449> these<02:38:47.659> six 02:38:47.920 --> 02:38:47.930 align:start position:0% institution it has these six 02:38:47.930 --> 02:38:50.500 align:start position:0% institution it has these six characteristics<02:38:48.850> so<02:38:49.850> it<02:38:50.149> makes<02:38:50.359> the 02:38:50.500 --> 02:38:50.510 align:start position:0% characteristics so it makes the 02:38:50.510 --> 02:38:52.120 align:start position:0% characteristics so it makes the decision-making<02:38:51.079> Hajek<02:38:51.529> publicly<02:38:51.949> available 02:38:52.120 --> 02:38:52.130 align:start position:0% decision-making Hajek publicly available 02:38:52.130 --> 02:38:54.069 align:start position:0% decision-making Hajek publicly available so<02:38:52.819> if<02:38:52.970> you're<02:38:53.090> trying<02:38:53.300> to<02:38:53.479> decide<02:38:53.750> whether<02:38:53.960> or 02:38:54.069 --> 02:38:54.079 align:start position:0% so if you're trying to decide whether or 02:38:54.079 --> 02:38:56.229 align:start position:0% so if you're trying to decide whether or not<02:38:54.229> to<02:38:54.380> do<02:38:54.470> something<02:38:54.890> you<02:38:55.850> need<02:38:55.970> to<02:38:56.149> know 02:38:56.229 --> 02:38:56.239 align:start position:0% not to do something you need to know 02:38:56.239 --> 02:38:57.939 align:start position:0% not to do something you need to know whether<02:38:56.569> you<02:38:56.930> know<02:38:57.109> what<02:38:57.409> you're<02:38:57.560> going<02:38:57.739> to<02:38:57.770> do 02:38:57.939 --> 02:38:57.949 align:start position:0% whether you know what you're going to do 02:38:57.949 --> 02:39:00.849 align:start position:0% whether you know what you're going to do is<02:38:58.100> lawful<02:38:58.550> or<02:38:58.729> unlawful<02:38:58.760> right<02:38:59.529> it<02:39:00.529> results 02:39:00.849 --> 02:39:00.859 align:start position:0% is lawful or unlawful right it results 02:39:00.859 --> 02:39:02.889 align:start position:0% is lawful or unlawful right it results in<02:39:00.979> computing<02:39:01.399> its<02:39:01.579> Abel<02:39:02.060> it's<02:39:02.510> impersonal 02:39:02.889 --> 02:39:02.899 align:start position:0% in computing its Abel it's impersonal 02:39:02.899 --> 02:39:06.250 align:start position:0% in computing its Abel it's impersonal it's<02:39:03.890> able<02:39:04.100> to<02:39:04.250> produce<02:39:04.550> new<02:39:04.790> rules<02:39:05.260> by 02:39:06.250 --> 02:39:06.260 align:start position:0% it's able to produce new rules by 02:39:06.260 --> 02:39:07.990 align:start position:0% it's able to produce new rules by soliciting<02:39:06.560> information<02:39:06.920> for<02:39:07.489> users<02:39:07.790> and 02:39:07.990 --> 02:39:08.000 align:start position:0% soliciting information for users and 02:39:08.000 --> 02:39:09.700 align:start position:0% soliciting information for users and against<02:39:08.390> critical<02:39:08.840> results<02:39:09.290> for<02:39:09.470> novel 02:39:09.700 --> 02:39:09.710 align:start position:0% against critical results for novel 02:39:09.710 --> 02:39:13.689 align:start position:0% against critical results for novel inputs<02:39:11.170> okay<02:39:12.170> so<02:39:12.350> they<02:39:12.619> say<02:39:12.829> they<02:39:13.550> say 02:39:13.689 --> 02:39:13.699 align:start position:0% inputs okay so they say they say 02:39:13.699 --> 02:39:15.460 align:start position:0% inputs okay so they say they say importantly<02:39:14.239> that<02:39:14.540> it's<02:39:14.689> a<02:39:14.779> mistake<02:39:15.170> to 02:39:15.460 --> 02:39:15.470 align:start position:0% importantly that it's a mistake to 02:39:15.470 --> 02:39:17.170 align:start position:0% importantly that it's a mistake to presuppose<02:39:15.920> that<02:39:16.130> government<02:39:16.880> is<02:39:17.060> an 02:39:17.170 --> 02:39:17.180 align:start position:0% presuppose that government is an 02:39:17.180 --> 02:39:21.300 align:start position:0% presuppose that government is an essential<02:39:17.600> feature<02:39:17.720> of<02:39:17.930> law<02:39:18.560> and<02:39:18.829> legal<02:39:19.100> order 02:39:21.300 --> 02:39:21.310 align:start position:0% essential feature of law and legal order 02:39:21.310 --> 02:39:26.649 align:start position:0% essential feature of law and legal order so<02:39:22.810> this<02:39:23.810> is<02:39:24.140> firmly<02:39:24.680> multi-point<02:39:25.310> and<02:39:25.880> you 02:39:26.649 --> 02:39:26.659 align:start position:0% so this is firmly multi-point and you 02:39:26.659 --> 02:39:28.450 align:start position:0% so this is firmly multi-point and you might<02:39:26.810> notice<02:39:27.170> that<02:39:27.199> these 02:39:28.450 --> 02:39:28.460 align:start position:0% might notice that these 02:39:28.460 --> 02:39:32.350 align:start position:0% might notice that these strangely<02:39:30.100> but<02:39:31.100> the<02:39:31.430> reason<02:39:31.700> why<02:39:31.790> they<02:39:32.120> are 02:39:32.350 --> 02:39:32.360 align:start position:0% strangely but the reason why they are 02:39:32.360 --> 02:39:34.330 align:start position:0% strangely but the reason why they are acting<02:39:32.780> this<02:39:32.900> way<02:39:32.960> is<02:39:33.260> because<02:39:33.440> the<02:39:34.040> heat<02:39:34.190> my 02:39:34.330 --> 02:39:34.340 align:start position:0% acting this way is because the heat my 02:39:34.340 --> 02:39:37.750 align:start position:0% acting this way is because the heat my project<02:39:34.850> didn't<02:39:35.270> use<02:39:35.479> to<02:39:36.340> instruct<02:39:37.340> them<02:39:37.580> on 02:39:37.750 --> 02:39:37.760 align:start position:0% project didn't use to instruct them on 02:39:37.760 --> 02:39:40.120 align:start position:0% project didn't use to instruct them on how<02:39:37.820> to<02:39:38.030> do<02:39:38.330> things<02:39:38.479> it<02:39:39.140> just<02:39:39.200> cents<02:39:39.830> to<02:39:39.979> give 02:39:40.120 --> 02:39:40.130 align:start position:0% how to do things it just cents to give 02:39:40.130 --> 02:39:41.710 align:start position:0% how to do things it just cents to give them<02:39:40.310> the<02:39:40.400> whole<02:39:40.610> of<02:39:40.910> moving<02:39:41.330> forward<02:39:41.600> without 02:39:41.710 --> 02:39:41.720 align:start position:0% them the whole of moving forward without 02:39:41.720 --> 02:39:44.200 align:start position:0% them the whole of moving forward without falling<02:39:42.260> and<02:39:42.500> so<02:39:43.100> you<02:39:43.160> can<02:39:43.430> see<02:39:43.610> they<02:39:43.790> you<02:39:44.120> know 02:39:44.200 --> 02:39:44.210 align:start position:0% falling and so you can see they you know 02:39:44.210 --> 02:39:45.940 align:start position:0% falling and so you can see they you know we<02:39:44.360> got<02:39:44.510> really<02:39:44.660> really<02:39:45.170> different<02:39:45.350> behavior 02:39:45.940 --> 02:39:45.950 align:start position:0% we got really really different behavior 02:39:45.950 --> 02:39:47.650 align:start position:0% we got really really different behavior because<02:39:46.280> because<02:39:46.729> we<02:39:46.850> focused<02:39:47.210> on<02:39:47.330> the<02:39:47.479> goal 02:39:47.650 --> 02:39:47.660 align:start position:0% because because we focused on the goal 02:39:47.660 --> 02:39:50.160 align:start position:0% because because we focused on the goal and<02:39:47.930> not<02:39:48.080> the<02:39:48.470> mechanisms<02:39:49.040> of<02:39:49.160> how<02:39:49.280> to<02:39:49.340> do<02:39:49.550> it 02:39:50.160 --> 02:39:50.170 align:start position:0% and not the mechanisms of how to do it 02:39:50.170 --> 02:39:52.360 align:start position:0% and not the mechanisms of how to do it and<02:39:51.170> we<02:39:51.350> can<02:39:51.470> actually<02:39:51.650> apply<02:39:52.010> the<02:39:52.100> same 02:39:52.360 --> 02:39:52.370 align:start position:0% and we can actually apply the same 02:39:52.370 --> 02:39:54.070 align:start position:0% and we can actually apply the same things<02:39:52.610> a<02:39:52.700> lot<02:39:52.850> and<02:39:53.180> this<02:39:53.330> is<02:39:53.479> a<02:39:53.690> natural 02:39:54.070 --> 02:39:54.080 align:start position:0% things a lot and this is a natural 02:39:54.080 --> 02:39:55.240 align:start position:0% things a lot and this is a natural approach<02:39:54.260> it's<02:39:54.590> called<02:39:54.800> the<02:39:54.860> functional 02:39:55.240 --> 02:39:55.250 align:start position:0% approach it's called the functional 02:39:55.250 --> 02:39:57.280 align:start position:0% approach it's called the functional approaching<02:39:55.729> comparative<02:39:56.270> plot<02:39:56.479> and<02:39:57.020> what<02:39:57.170> it 02:39:57.280 --> 02:39:57.290 align:start position:0% approaching comparative plot and what it 02:39:57.290 --> 02:39:59.170 align:start position:0% approaching comparative plot and what it says<02:39:57.470> is<02:39:57.620> that<02:39:57.650> law<02:39:58.040> is<02:39:58.250> comparable<02:39:58.850> if<02:39:59.060> it 02:39:59.170 --> 02:39:59.180 align:start position:0% says is that law is comparable if it 02:39:59.180 --> 02:40:00.790 align:start position:0% says is that law is comparable if it performs<02:39:59.630> the<02:39:59.750> same<02:39:59.900> functions<02:40:00.350> so<02:40:00.590> if<02:40:00.680> it 02:40:00.790 --> 02:40:00.800 align:start position:0% performs the same functions so if it 02:40:00.800 --> 02:40:06.370 align:start position:0% performs the same functions so if it solves<02:40:01.130> the<02:40:01.250> same<02:40:01.460> social<02:40:01.729> problems<02:40:05.140> I'm<02:40:06.140> just 02:40:06.370 --> 02:40:06.380 align:start position:0% solves the same social problems I'm just 02:40:06.380 --> 02:40:08.260 align:start position:0% solves the same social problems I'm just going<02:40:06.530> to<02:40:06.560> give<02:40:06.710> one<02:40:07.130> example<02:40:07.190> of<02:40:07.640> this<02:40:07.760> so 02:40:08.260 --> 02:40:08.270 align:start position:0% going to give one example of this so 02:40:08.270 --> 02:40:10.870 align:start position:0% going to give one example of this so this<02:40:08.420> is<02:40:08.690> the<02:40:08.990> law<02:40:09.140> speaker<02:40:09.490> and<02:40:10.490> this<02:40:10.700> was 02:40:10.870 --> 02:40:10.880 align:start position:0% this is the law speaker and this was 02:40:10.880 --> 02:40:12.969 align:start position:0% this is the law speaker and this was around<02:40:11.300> the<02:40:11.450> Year<02:40:11.630> 1000<02:40:12.560> years<02:40:12.680> old 02:40:12.969 --> 02:40:12.979 align:start position:0% around the Year 1000 years old 02:40:12.979 --> 02:40:16.570 align:start position:0% around the Year 1000 years old in<02:40:13.360> Scandinavian<02:40:14.360> countries<02:40:14.740> like<02:40:15.740> Iceland 02:40:16.570 --> 02:40:16.580 align:start position:0% in Scandinavian countries like Iceland 02:40:16.580 --> 02:40:21.700 align:start position:0% in Scandinavian countries like Iceland and<02:40:17.300> what<02:40:18.020> the<02:40:18.140> law<02:40:18.260> speaker<02:40:18.650> did<02:40:18.830> was<02:40:20.560> as<02:40:21.560> you 02:40:21.700 --> 02:40:21.710 align:start position:0% and what the law speaker did was as you 02:40:21.710 --> 02:40:23.140 align:start position:0% and what the law speaker did was as you might<02:40:21.860> imagine<02:40:21.950> spoke<02:40:22.490> little<02:40:22.670> off<02:40:22.850> so<02:40:23.030> this 02:40:23.140 --> 02:40:23.150 align:start position:0% might imagine spoke little off so this 02:40:23.150 --> 02:40:26.230 align:start position:0% might imagine spoke little off so this was<02:40:23.390> how<02:40:23.570> they<02:40:23.810> carried<02:40:24.110> a<02:40:24.140> lot<02:40:25.000> down<02:40:26.000> through 02:40:26.230 --> 02:40:26.240 align:start position:0% was how they carried a lot down through 02:40:26.240 --> 02:40:27.550 align:start position:0% was how they carried a lot down through generations<02:40:26.270> was<02:40:26.930> that<02:40:27.080> they<02:40:27.229> had<02:40:27.350> a<02:40:27.380> law 02:40:27.550 --> 02:40:27.560 align:start position:0% generations was that they had a law 02:40:27.560 --> 02:40:29.440 align:start position:0% generations was that they had a law speaker<02:40:27.860> it<02:40:28.220> wasn't<02:40:28.460> hard<02:40:28.550> today<02:40:28.670> so<02:40:29.060> this<02:40:29.390> is 02:40:29.440 --> 02:40:29.450 align:start position:0% speaker it wasn't hard today so this is 02:40:29.450 --> 02:40:30.550 align:start position:0% speaker it wasn't hard today so this is very<02:40:29.750> different<02:40:30.110> than<02:40:30.170> what<02:40:30.320> we're<02:40:30.500> familiar 02:40:30.550 --> 02:40:30.560 align:start position:0% very different than what we're familiar 02:40:30.560 --> 02:40:35.050 align:start position:0% very different than what we're familiar with<02:40:30.830> but<02:40:31.130> it's<02:40:31.280> still<02:40:31.400> counted<02:40:31.790> as<02:40:31.880> well<02:40:34.060> okay 02:40:35.050 --> 02:40:35.060 align:start position:0% with but it's still counted as well okay 02:40:35.060 --> 02:40:39.550 align:start position:0% with but it's still counted as well okay so<02:40:36.670> given<02:40:37.670> that<02:40:37.820> that<02:40:38.540> definition<02:40:39.020> let's<02:40:39.380> talk 02:40:39.550 --> 02:40:39.560 align:start position:0% so given that that definition let's talk 02:40:39.560 --> 02:40:41.920 align:start position:0% so given that that definition let's talk about<02:40:39.710> the<02:40:39.950> social<02:40:40.190> problems<02:40:40.729> to<02:40:40.970> solve<02:40:41.180> so 02:40:41.920 --> 02:40:41.930 align:start position:0% about the social problems to solve so 02:40:41.930 --> 02:40:43.510 align:start position:0% about the social problems to solve so there's<02:40:42.110> this<02:40:42.229> great<02:40:42.380> paper<02:40:42.800> by<02:40:42.830> Anthony 02:40:43.510 --> 02:40:43.520 align:start position:0% there's this great paper by Anthony 02:40:43.520 --> 02:40:45.969 align:start position:0% there's this great paper by Anthony Carlin<02:40:43.910> who's<02:40:44.300> a<02:40:44.420> Illinois<02:40:45.380> Austrian 02:40:45.969 --> 02:40:45.979 align:start position:0% Carlin who's a Illinois Austrian 02:40:45.979 --> 02:40:46.810 align:start position:0% Carlin who's a Illinois Austrian contract<02:40:46.400> law 02:40:46.810 --> 02:40:46.820 align:start position:0% contract law 02:40:46.820 --> 02:40:49.630 align:start position:0% contract law he<02:40:47.330> has<02:40:47.540> this<02:40:48.320> paper<02:40:48.560> called<02:40:48.860> contract<02:40:49.280> law<02:40:49.400> in 02:40:49.630 --> 02:40:49.640 align:start position:0% he has this paper called contract law in 02:40:49.640 --> 02:40:51.940 align:start position:0% he has this paper called contract law in the<02:40:49.729> state<02:40:49.790> of<02:40:49.970> nature<02:40:50.180> and<02:40:50.740> vinicky<02:40:51.740> says 02:40:51.940 --> 02:40:51.950 align:start position:0% the state of nature and vinicky says 02:40:51.950 --> 02:40:53.620 align:start position:0% the state of nature and vinicky says that<02:40:52.100> there's<02:40:52.280> two<02:40:52.490> problems<02:40:52.970> in<02:40:53.210> this<02:40:53.420> goes 02:40:53.620 --> 02:40:53.630 align:start position:0% that there's two problems in this goes 02:40:53.630 --> 02:40:55.810 align:start position:0% that there's two problems in this goes back<02:40:53.810> to<02:40:53.990> Hobbes<02:40:54.170> he<02:40:54.860> says<02:40:55.100> that<02:40:55.370> one<02:40:55.670> of<02:40:55.760> the 02:40:55.810 --> 02:40:55.820 align:start position:0% back to Hobbes he says that one of the 02:40:55.820 --> 02:40:57.969 align:start position:0% back to Hobbes he says that one of the problems<02:40:56.180> is<02:40:56.330> vulnerability<02:40:57.229> of<02:40:57.440> possession 02:40:57.969 --> 02:40:57.979 align:start position:0% problems is vulnerability of possession 02:40:57.979 --> 02:40:59.800 align:start position:0% problems is vulnerability of possession so<02:40:58.460> you<02:40:58.790> know<02:40:58.880> people<02:40:59.060> can<02:40:59.330> take<02:40:59.450> your<02:40:59.600> stuff 02:40:59.800 --> 02:40:59.810 align:start position:0% so you know people can take your stuff 02:40:59.810 --> 02:41:02.380 align:start position:0% so you know people can take your stuff great<02:41:00.350> and<02:41:00.700> the<02:41:01.700> other<02:41:01.820> problem<02:41:02.270> is 02:41:02.380 --> 02:41:02.390 align:start position:0% great and the other problem is 02:41:02.390 --> 02:41:04.630 align:start position:0% great and the other problem is transactional<02:41:03.170> security<02:41:03.740> so<02:41:04.280> this<02:41:04.430> means 02:41:04.630 --> 02:41:04.640 align:start position:0% transactional security so this means 02:41:04.640 --> 02:41:05.080 align:start position:0% transactional security so this means that 02:41:05.080 --> 02:41:05.090 align:start position:0% that 02:41:05.090 --> 02:41:06.250 align:start position:0% that trying<02:41:05.300> to<02:41:05.359> make<02:41:05.479> promises<02:41:05.689> with<02:41:06.109> other 02:41:06.250 --> 02:41:06.260 align:start position:0% trying to make promises with other 02:41:06.260 --> 02:41:10.570 align:start position:0% trying to make promises with other people<02:41:06.649> they<02:41:06.859> may<02:41:06.890> break<02:41:07.189> their<02:41:07.399> promises<02:41:09.580> so 02:41:10.570 --> 02:41:10.580 align:start position:0% people they may break their promises so 02:41:10.580 --> 02:41:14.440 align:start position:0% people they may break their promises so how<02:41:10.700> can<02:41:10.760> we<02:41:11.000> solve<02:41:11.210> this<02:41:12.250> so<02:41:13.250> let's<02:41:14.120> get<02:41:14.300> the 02:41:14.440 --> 02:41:14.450 align:start position:0% how can we solve this so let's get the 02:41:14.450 --> 02:41:16.420 align:start position:0% how can we solve this so let's get the definitions<02:41:15.050> out<02:41:15.140> and<02:41:15.320> play<02:41:15.439> so<02:41:15.890> I'm<02:41:16.189> going<02:41:16.370> to 02:41:16.420 --> 02:41:16.430 align:start position:0% definitions out and play so I'm going to 02:41:16.430 --> 02:41:18.070 align:start position:0% definitions out and play so I'm going to be<02:41:16.580> defining<02:41:16.880> a<02:41:17.030> blockchain<02:41:17.240> very<02:41:17.689> loosely 02:41:18.070 --> 02:41:18.080 align:start position:0% be defining a blockchain very loosely 02:41:18.080 --> 02:41:20.650 align:start position:0% be defining a blockchain very loosely and<02:41:18.439> very<02:41:19.100> abstractly<02:41:19.609> as<02:41:19.939> a<02:41:20.240> state<02:41:20.540> machine 02:41:20.650 --> 02:41:20.660 align:start position:0% and very abstractly as a state machine 02:41:20.660 --> 02:41:22.360 align:start position:0% and very abstractly as a state machine so<02:41:20.990> it<02:41:21.350> takes<02:41:21.530> all<02:41:21.680> the<02:41:21.800> states<02:41:22.070> and<02:41:22.250> new 02:41:22.360 --> 02:41:22.370 align:start position:0% so it takes all the states and new 02:41:22.370 --> 02:41:24.370 align:start position:0% so it takes all the states and new information<02:41:22.939> it<02:41:23.479> has<02:41:23.630> a<02:41:23.660> transition<02:41:24.200> function 02:41:24.370 --> 02:41:24.380 align:start position:0% information it has a transition function 02:41:24.380 --> 02:41:28.780 align:start position:0% information it has a transition function and<02:41:24.830> you<02:41:24.890> get<02:41:25.040> a<02:41:25.070> new<02:41:25.189> space<02:41:27.310> I'm<02:41:28.310> also<02:41:28.550> going 02:41:28.780 --> 02:41:28.790 align:start position:0% and you get a new space I'm also going 02:41:28.790 --> 02:41:31.480 align:start position:0% and you get a new space I'm also going to<02:41:28.880> be<02:41:28.939> defining<02:41:29.620> manches<02:41:30.620> vs.<02:41:31.010> off<02:41:31.220> change 02:41:31.480 --> 02:41:31.490 align:start position:0% to be defining manches vs. off change 02:41:31.490 --> 02:41:32.200 align:start position:0% to be defining manches vs. off change assets 02:41:32.200 --> 02:41:32.210 align:start position:0% assets 02:41:32.210 --> 02:41:35.679 align:start position:0% assets so<02:41:32.930> as<02:41:33.260> unchain<02:41:33.710> asset<02:41:34.100> by<02:41:35.090> that<02:41:35.270> I<02:41:35.300> just<02:41:35.479> mean 02:41:35.679 --> 02:41:35.689 align:start position:0% so as unchain asset by that I just mean 02:41:35.689 --> 02:41:37.660 align:start position:0% so as unchain asset by that I just mean that<02:41:35.840> it<02:41:36.080> watching<02:41:36.500> is<02:41:36.800> the<02:41:37.010> sole<02:41:37.250> source<02:41:37.520> of 02:41:37.660 --> 02:41:37.670 align:start position:0% that it watching is the sole source of 02:41:37.670 --> 02:41:40.719 align:start position:0% that it watching is the sole source of truth<02:41:37.880> for<02:41:38.020> ownership<02:41:39.020> or<02:41:39.229> access<02:41:39.649> and<02:41:40.220> by<02:41:40.550> off 02:41:40.719 --> 02:41:40.729 align:start position:0% truth for ownership or access and by off 02:41:40.729 --> 02:41:41.889 align:start position:0% truth for ownership or access and by off chain<02:41:40.970> I<02:41:41.149> mean<02:41:41.330> that's<02:41:41.479> something<02:41:41.780> else 02:41:41.889 --> 02:41:41.899 align:start position:0% chain I mean that's something else 02:41:41.899 --> 02:41:44.020 align:start position:0% chain I mean that's something else determines<02:41:42.560> ownership<02:41:43.340> for<02:41:43.490> access<02:41:43.790> so<02:41:43.910> this 02:41:44.020 --> 02:41:44.030 align:start position:0% determines ownership for access so this 02:41:44.030 --> 02:41:45.730 align:start position:0% determines ownership for access so this is<02:41:44.180> really<02:41:44.300> about<02:41:44.510> social<02:41:44.840> consensus<02:41:45.530> and 02:41:45.730 --> 02:41:45.740 align:start position:0% is really about social consensus and 02:41:45.740 --> 02:41:50.380 align:start position:0% is really about social consensus and source<02:41:46.100> attribute<02:41:48.640> okay<02:41:49.640> so<02:41:49.700> let's<02:41:49.970> make<02:41:50.120> a 02:41:50.380 --> 02:41:50.390 align:start position:0% source attribute okay so let's make a 02:41:50.390 --> 02:41:53.530 align:start position:0% source attribute okay so let's make a simple<02:41:51.109> on<02:41:51.620> a<02:41:51.649> piece<02:41:52.130> cryptocurrencies<02:41:53.120> let's 02:41:53.530 --> 02:41:53.540 align:start position:0% simple on a piece cryptocurrencies let's 02:41:53.540 --> 02:41:55.270 align:start position:0% simple on a piece cryptocurrencies let's say<02:41:53.689> that<02:41:53.840> Alice<02:41:54.140> wants<02:41:54.439> to<02:41:54.470> get<02:41:54.649> funked<02:41:54.859> into 02:41:55.270 --> 02:41:55.280 align:start position:0% say that Alice wants to get funked into 02:41:55.280 --> 02:41:57.490 align:start position:0% say that Alice wants to get funked into enlisted<02:41:55.790> rank<02:41:55.970> so<02:41:56.570> the<02:41:56.689> whole<02:41:56.840> state<02:41:57.170> Alice 02:41:57.490 --> 02:41:57.500 align:start position:0% enlisted rank so the whole state Alice 02:41:57.500 --> 02:41:59.620 align:start position:0% enlisted rank so the whole state Alice has<02:41:57.680> to<02:41:57.890> involve<02:41:58.160> a<02:41:58.340> zero<02:41:58.609> it<02:41:59.120> goes<02:41:59.180> through<02:41:59.570> a 02:41:59.620 --> 02:41:59.630 align:start position:0% has to involve a zero it goes through a 02:41:59.630 --> 02:42:01.660 align:start position:0% has to involve a zero it goes through a transition<02:42:00.109> function<02:42:00.260> now<02:42:01.040> about<02:42:01.250> the<02:42:01.460> same 02:42:01.660 --> 02:42:01.670 align:start position:0% transition function now about the same 02:42:01.670 --> 02:42:05.800 align:start position:0% transition function now about the same rate<02:42:01.970> varies<02:42:02.270> reporter<02:42:03.939> let's<02:42:04.939> look<02:42:05.570> at<02:42:05.720> it 02:42:05.800 --> 02:42:05.810 align:start position:0% rate varies reporter let's look at it 02:42:05.810 --> 02:42:07.719 align:start position:0% rate varies reporter let's look at it invalid<02:42:06.320> transaction<02:42:06.830> so<02:42:07.160> let's<02:42:07.340> say<02:42:07.490> that 02:42:07.719 --> 02:42:07.729 align:start position:0% invalid transaction so let's say that 02:42:07.729 --> 02:42:10.420 align:start position:0% invalid transaction so let's say that Bob<02:42:08.000> tries<02:42:08.840> to<02:42:08.990> take<02:42:09.200> ten<02:42:09.439> tokens<02:42:09.620> from<02:42:10.010> Alice 02:42:10.420 --> 02:42:10.430 align:start position:0% Bob tries to take ten tokens from Alice 02:42:10.430 --> 02:42:13.480 align:start position:0% Bob tries to take ten tokens from Alice without<02:42:11.120> her<02:42:11.570> consent<02:42:11.830> so<02:42:12.830> as<02:42:13.070> we<02:42:13.220> all<02:42:13.250> know 02:42:13.480 --> 02:42:13.490 align:start position:0% without her consent so as we all know 02:42:13.490 --> 02:42:15.219 align:start position:0% without her consent so as we all know this<02:42:14.000> would<02:42:14.180> not<02:42:14.359> work<02:42:14.510> great 02:42:15.219 --> 02:42:15.229 align:start position:0% this would not work great 02:42:15.229 --> 02:42:17.080 align:start position:0% this would not work great so<02:42:15.439> because<02:42:16.160> Alice<02:42:16.490> has<02:42:16.609> not<02:42:16.790> signed<02:42:17.000> the 02:42:17.080 --> 02:42:17.090 align:start position:0% so because Alice has not signed the 02:42:17.090 --> 02:42:19.050 align:start position:0% so because Alice has not signed the transaction<02:42:17.689> it's<02:42:17.960> not<02:42:18.140> going<02:42:18.439> to<02:42:18.560> be 02:42:19.050 --> 02:42:19.060 align:start position:0% transaction it's not going to be 02:42:19.060 --> 02:42:21.219 align:start position:0% transaction it's not going to be validated<02:42:20.060> by<02:42:20.359> the<02:42:20.390> bot<02:42:20.660> producer<02:42:21.109> to 02:42:21.219 --> 02:42:21.229 align:start position:0% validated by the bot producer to 02:42:21.229 --> 02:42:25.739 align:start position:0% validated by the bot producer to dominators<02:42:21.740> fingers<02:42:22.160> whatever<02:42:22.729> was<02:42:23.300> at<02:42:23.479> every 02:42:25.739 --> 02:42:25.749 align:start position:0% dominators fingers whatever was at every 02:42:25.749 --> 02:42:28.479 align:start position:0% dominators fingers whatever was at every so<02:42:26.749> what's<02:42:27.229> really<02:42:27.350> cool<02:42:27.649> about<02:42:27.709> this<02:42:28.100> is<02:42:28.430> that 02:42:28.479 --> 02:42:28.489 align:start position:0% so what's really cool about this is that 02:42:28.489 --> 02:42:30.869 align:start position:0% so what's really cool about this is that it<02:42:29.479> turns<02:42:29.659> out<02:42:29.810> that<02:42:29.869> for<02:42:30.109> differences 02:42:30.869 --> 02:42:30.879 align:start position:0% it turns out that for differences 02:42:30.879 --> 02:42:33.010 align:start position:0% it turns out that for differences because<02:42:31.879> they<02:42:32.090> units<02:42:32.449> they're<02:42:32.689> actually 02:42:33.010 --> 02:42:33.020 align:start position:0% because they units they're actually 02:42:33.020 --> 02:42:34.869 align:start position:0% because they units they're actually enforcing<02:42:33.560> property<02:42:33.949> rights<02:42:34.249> on<02:42:34.760> the 02:42:34.869 --> 02:42:34.879 align:start position:0% enforcing property rights on the 02:42:34.879 --> 02:42:36.699 align:start position:0% enforcing property rights on the internet<02:42:35.239> in<02:42:35.629> code<02:42:35.930> and<02:42:36.260> without<02:42:36.529> traditional 02:42:36.699 --> 02:42:36.709 align:start position:0% internet in code and without traditional 02:42:36.709 --> 02:42:37.479 align:start position:0% internet in code and without traditional law 02:42:37.479 --> 02:42:37.489 align:start position:0% law 02:42:37.489 --> 02:42:40.510 align:start position:0% law so<02:42:38.300> agent<02:42:39.140> honoring<02:42:39.800> has<02:42:40.189> this<02:42:40.310> great 02:42:40.510 --> 02:42:40.520 align:start position:0% so agent honoring has this great 02:42:40.520 --> 02:42:43.300 align:start position:0% so agent honoring has this great tapeworm<02:42:40.879> called<02:42:41.090> ownership<02:42:41.600> and<02:42:42.079> it<02:42:43.069> makes 02:42:43.300 --> 02:42:43.310 align:start position:0% tapeworm called ownership and it makes 02:42:43.310 --> 02:42:45.699 align:start position:0% tapeworm called ownership and it makes talks<02:42:43.609> about<02:42:43.909> I<02:42:44.180> think<02:42:44.390> there's<02:42:44.840> like<02:42:45.050> six<02:42:45.560> or 02:42:45.699 --> 02:42:45.709 align:start position:0% talks about I think there's like six or 02:42:45.709 --> 02:42:48.189 align:start position:0% talks about I think there's like six or eight<02:42:45.859> different<02:42:46.659> rights<02:42:47.659> that<02:42:47.869> are<02:42:47.989> in<02:42:48.079> the 02:42:48.189 --> 02:42:48.199 align:start position:0% eight different rights that are in the 02:42:48.199 --> 02:42:50.229 align:start position:0% eight different rights that are in the bundle<02:42:48.560> of<02:42:48.709> ownership<02:42:49.010> and<02:42:49.819> it<02:42:49.970> turns<02:42:50.119> out 02:42:50.229 --> 02:42:50.239 align:start position:0% bundle of ownership and it turns out 02:42:50.239 --> 02:42:52.630 align:start position:0% bundle of ownership and it turns out that<02:42:50.300> particular<02:42:50.869> duties<02:42:51.189> have<02:42:52.189> three<02:42:52.550> of 02:42:52.630 --> 02:42:52.640 align:start position:0% that particular duties have three of 02:42:52.640 --> 02:42:54.040 align:start position:0% that particular duties have three of those<02:42:52.760> rights<02:42:52.999> so<02:42:53.119> there's<02:42:53.449> the<02:42:53.659> right<02:42:53.779> to<02:42:53.899> use 02:42:54.040 --> 02:42:54.050 align:start position:0% those rights so there's the right to use 02:42:54.050 --> 02:42:56.409 align:start position:0% those rights so there's the right to use there's<02:42:54.890> the<02:42:55.039> right<02:42:55.159> to<02:42:55.310> exclude<02:42:55.489> others<02:42:55.699> and 02:42:56.409 --> 02:42:56.419 align:start position:0% there's the right to exclude others and 02:42:56.419 --> 02:43:01.059 align:start position:0% there's the right to exclude others and there's<02:42:56.600> the<02:42:56.720> power<02:42:56.869> transfer<02:42:59.409> so<02:43:00.409> a<02:43:00.439> Bakura 02:43:01.059 --> 02:43:01.069 align:start position:0% there's the power transfer so a Bakura 02:43:01.069 --> 02:43:04.899 align:start position:0% there's the power transfer so a Bakura we<02:43:01.760> decided<02:43:02.560> to<02:43:03.560> see<02:43:04.159> what<02:43:04.189> would<02:43:04.489> happen<02:43:04.819> if 02:43:04.899 --> 02:43:04.909 align:start position:0% we decided to see what would happen if 02:43:04.909 --> 02:43:06.609 align:start position:0% we decided to see what would happen if we<02:43:05.029> try<02:43:05.239> to<02:43:05.300> suppress<02:43:05.810> more<02:43:06.050> sophisticated 02:43:06.609 --> 02:43:06.619 align:start position:0% we try to suppress more sophisticated 02:43:06.619 --> 02:43:09.250 align:start position:0% we try to suppress more sophisticated property<02:43:07.069> rights<02:43:07.279> so<02:43:07.550> we<02:43:08.300> chose<02:43:08.449> to<02:43:08.810> implement 02:43:09.250 --> 02:43:09.260 align:start position:0% property rights so we chose to implement 02:43:09.260 --> 02:43:11.139 align:start position:0% property rights so we chose to implement the<02:43:09.680> pencil<02:43:10.010> demo<02:43:10.249> based<02:43:10.489> on<02:43:10.729> right<02:43:10.879> into<02:43:10.999> our 02:43:11.139 --> 02:43:11.149 align:start position:0% the pencil demo based on right into our 02:43:11.149 --> 02:43:13.389 align:start position:0% the pencil demo based on right into our place<02:43:11.390> this<02:43:11.810> is<02:43:11.869> a<02:43:11.989> picture<02:43:12.379> redditor<02:43:13.129> place 02:43:13.389 --> 02:43:13.399 align:start position:0% place this is a picture redditor place 02:43:13.399 --> 02:43:17.409 align:start position:0% place this is a picture redditor place and<02:43:14.169> in<02:43:15.169> this<02:43:15.350> demo<02:43:15.590> we<02:43:16.579> decided<02:43:17.029> to<02:43:17.180> allow 02:43:17.409 --> 02:43:17.419 align:start position:0% and in this demo we decided to allow 02:43:17.419 --> 02:43:20.109 align:start position:0% and in this demo we decided to allow users<02:43:17.779> to<02:43:17.869> buy<02:43:18.169> and<02:43:18.379> sell<02:43:18.529> pixels<02:43:18.949> as<02:43:19.279> well<02:43:19.909> as 02:43:20.109 --> 02:43:20.119 align:start position:0% users to buy and sell pixels as well as 02:43:20.119 --> 02:43:21.790 align:start position:0% users to buy and sell pixels as well as phone<02:43:20.359> pixels<02:43:20.899> and<02:43:21.050> can't<02:43:21.350> create<02:43:21.560> whatever 02:43:21.790 --> 02:43:21.800 align:start position:0% phone pixels and can't create whatever 02:43:21.800 --> 02:43:23.710 align:start position:0% phone pixels and can't create whatever they<02:43:22.100> wanted<02:43:22.369> to<02:43:22.520> create<02:43:22.699> but<02:43:23.419> what<02:43:23.569> we 02:43:23.710 --> 02:43:23.720 align:start position:0% they wanted to create but what we 02:43:23.720 --> 02:43:26.969 align:start position:0% they wanted to create but what we discovered<02:43:23.899> was<02:43:24.770> that<02:43:25.029> this<02:43:26.029> was<02:43:26.239> actually 02:43:26.969 --> 02:43:26.979 align:start position:0% discovered was that this was actually 02:43:26.979 --> 02:43:29.790 align:start position:0% discovered was that this was actually implementing<02:43:27.979> another<02:43:28.310> one<02:43:28.550> of<02:43:28.850> Monterey's 02:43:29.790 --> 02:43:29.800 align:start position:0% implementing another one of Monterey's 02:43:29.800 --> 02:43:31.630 align:start position:0% implementing another one of Monterey's rights<02:43:30.800> and<02:43:31.010> the<02:43:31.069> bundle<02:43:31.340> ship<02:43:31.489> with 02:43:31.630 --> 02:43:31.640 align:start position:0% rights and the bundle ship with 02:43:31.640 --> 02:43:34.719 align:start position:0% rights and the bundle ship with ownership<02:43:31.879> and<02:43:32.419> this<02:43:32.629> was<02:43:32.810> the<02:43:33.050> right<02:43:33.199> to<02:43:33.729> to 02:43:34.719 --> 02:43:34.729 align:start position:0% ownership and this was the right to to 02:43:34.729 --> 02:43:36.699 align:start position:0% ownership and this was the right to to alienate<02:43:35.390> the<02:43:35.569> you<02:43:35.689> straight<02:43:35.989> maintained 02:43:36.699 --> 02:43:36.709 align:start position:0% alienate the you straight maintained 02:43:36.709 --> 02:43:38.800 align:start position:0% alienate the you straight maintained ownership<02:43:37.010> but<02:43:37.850> allow<02:43:38.029> someone<02:43:38.300> else<02:43:38.419> to<02:43:38.629> use 02:43:38.800 --> 02:43:38.810 align:start position:0% ownership but allow someone else to use 02:43:38.810 --> 02:43:40.739 align:start position:0% ownership but allow someone else to use it<02:43:38.989> it<02:43:39.350> turns<02:43:39.560> out<02:43:39.739> that<02:43:39.890> this<02:43:40.010> is<02:43:40.220> kind<02:43:40.430> of<02:43:40.520> the 02:43:40.739 --> 02:43:40.749 align:start position:0% it it turns out that this is kind of the 02:43:40.749 --> 02:43:43.569 align:start position:0% it it turns out that this is kind of the the<02:43:41.749> owner<02:43:42.079> tenant<02:43:42.529> subtenant<02:43:42.919> relationship 02:43:43.569 --> 02:43:43.579 align:start position:0% the owner tenant subtenant relationship 02:43:43.579 --> 02:43:47.679 align:start position:0% the owner tenant subtenant relationship so<02:43:44.029> this<02:43:44.119> is<02:43:44.239> very<02:43:44.419> important<02:43:46.329> so<02:43:47.329> we<02:43:47.479> talked 02:43:47.679 --> 02:43:47.689 align:start position:0% so this is very important so we talked 02:43:47.689 --> 02:43:49.490 align:start position:0% so this is very important so we talked about<02:43:47.869> 1<02:43:48.169> million<02:43:48.470> possession 02:43:49.490 --> 02:43:49.500 align:start position:0% about 1 million possession 02:43:49.500 --> 02:43:51.680 align:start position:0% about 1 million possession proud<02:43:50.130> parents<02:43:50.310> what<02:43:50.790> about<02:43:51.000> transactional 02:43:51.680 --> 02:43:51.690 align:start position:0% proud parents what about transactional 02:43:51.690 --> 02:43:56.980 align:start position:0% proud parents what about transactional security<02:43:52.170> in<02:43:52.440> contractor<02:43:53.450> so<02:43:54.800> the<02:43:55.800> simplest 02:43:56.980 --> 02:43:56.990 align:start position:0% security in contractor so the simplest 02:43:56.990 --> 02:43:59.750 align:start position:0% security in contractor so the simplest example<02:43:57.990> of<02:43:58.080> transactional<02:43:58.740> and<02:43:58.920> security<02:43:59.340> is 02:43:59.750 --> 02:43:59.760 align:start position:0% example of transactional and security is 02:43:59.760 --> 02:44:02.030 align:start position:0% example of transactional and security is what<02:43:59.970> I<02:44:00.000> call<02:44:00.330> the<02:44:00.510> squad<02:44:00.750> and<02:44:01.080> there's<02:44:01.890> this 02:44:02.030 --> 02:44:02.040 align:start position:0% what I call the squad and there's this 02:44:02.040 --> 02:44:04.160 align:start position:0% what I call the squad and there's this great<02:44:02.280> example<02:44:02.430> from<02:44:03.390> Raiders<02:44:03.840> of<02:44:04.080> the<02:44:04.110> Lost 02:44:04.160 --> 02:44:04.170 align:start position:0% great example from Raiders of the Lost 02:44:04.170 --> 02:44:06.980 align:start position:0% great example from Raiders of the Lost Ark<02:44:04.520> it's<02:44:05.520> not<02:44:05.790> actually<02:44:06.360> the<02:44:06.510> squash<02:44:06.780> that's 02:44:06.980 --> 02:44:06.990 align:start position:0% Ark it's not actually the squash that's 02:44:06.990 --> 02:44:10.850 align:start position:0% Ark it's not actually the squash that's what<02:44:07.140> happens<02:44:07.470> right<02:44:07.620> after<02:44:07.770> it<02:44:09.500> so<02:44:10.500> I<02:44:10.530> had<02:44:10.830> a 02:44:10.850 --> 02:44:10.860 align:start position:0% what happens right after it so I had a 02:44:10.860 --> 02:44:12.230 align:start position:0% what happens right after it so I had a video<02:44:11.130> but<02:44:11.280> I<02:44:11.370> want<02:44:11.520> to<02:44:11.580> try<02:44:11.700> to<02:44:11.760> play<02:44:11.910> it<02:44:12.060> for 02:44:12.230 --> 02:44:12.240 align:start position:0% video but I want to try to play it for 02:44:12.240 --> 02:44:14.600 align:start position:0% video but I want to try to play it for time<02:44:12.390> reasons<02:44:12.540> but<02:44:12.960> it's<02:44:13.470> all<02:44:13.620> enacted<02:44:14.400> pretty 02:44:14.600 --> 02:44:14.610 align:start position:0% time reasons but it's all enacted pretty 02:44:14.610 --> 02:44:17.000 align:start position:0% time reasons but it's all enacted pretty guys<02:44:14.760> but<02:44:15.000> Indiana<02:44:15.900> Jones<02:44:16.140> is<02:44:16.530> trying<02:44:16.710> to<02:44:16.860> get 02:44:17.000 --> 02:44:17.010 align:start position:0% guys but Indiana Jones is trying to get 02:44:17.010 --> 02:44:20.390 align:start position:0% guys but Indiana Jones is trying to get over<02:44:17.100> this<02:44:17.370> pin<02:44:17.640> right<02:44:18.180> and<02:44:18.800> he<02:44:19.800> has<02:44:20.010> the<02:44:20.190> idol 02:44:20.390 --> 02:44:20.400 align:start position:0% over this pin right and he has the idol 02:44:20.400 --> 02:44:23.090 align:start position:0% over this pin right and he has the idol his<02:44:20.940> system<02:44:21.600> is<02:44:21.750> on<02:44:21.840> the<02:44:21.870> other<02:44:22.050> side<02:44:22.350> it<02:44:22.890> has 02:44:23.090 --> 02:44:23.100 align:start position:0% his system is on the other side it has 02:44:23.100 --> 02:44:24.410 align:start position:0% his system is on the other side it has the<02:44:23.130> win<02:44:23.400> that<02:44:23.610> would<02:44:23.700> help<02:44:23.820> them<02:44:23.970> get<02:44:24.120> across 02:44:24.410 --> 02:44:24.420 align:start position:0% the win that would help them get across 02:44:24.420 --> 02:44:27.230 align:start position:0% the win that would help them get across and<02:44:24.750> so<02:44:25.350> he<02:44:26.160> says<02:44:26.340> give<02:44:26.520> me<02:44:26.550> the<02:44:26.610> whip<02:44:26.850> and<02:44:27.090> this 02:44:27.230 --> 02:44:27.240 align:start position:0% and so he says give me the whip and this 02:44:27.240 --> 02:44:28.430 align:start position:0% and so he says give me the whip and this guy<02:44:27.390> says<02:44:27.660> throw<02:44:27.870> me<02:44:27.990> the<02:44:28.110> idol 02:44:28.430 --> 02:44:28.440 align:start position:0% guy says throw me the idol 02:44:28.440 --> 02:44:31.280 align:start position:0% guy says throw me the idol so<02:44:29.250> Indiana<02:44:29.880> Jones<02:44:30.060> throws<02:44:30.450> the<02:44:30.630> Idol<02:44:30.930> over 02:44:31.280 --> 02:44:31.290 align:start position:0% so Indiana Jones throws the Idol over 02:44:31.290 --> 02:44:38.810 align:start position:0% so Indiana Jones throws the Idol over and<02:44:32.040> as<02:44:32.940> we<02:44:33.150> might<02:44:33.330> expect<02:44:37.160> so<02:44:38.160> this<02:44:38.520> is<02:44:38.670> the 02:44:38.810 --> 02:44:38.820 align:start position:0% and as we might expect so this is the 02:44:38.820 --> 02:44:40.640 align:start position:0% and as we might expect so this is the problem<02:44:39.150> of<02:44:39.300> transactional<02:44:40.140> and<02:44:40.230> security 02:44:40.640 --> 02:44:40.650 align:start position:0% problem of transactional and security 02:44:40.650 --> 02:44:43.640 align:start position:0% problem of transactional and security and<02:44:41.430> we<02:44:41.490> solve<02:44:41.730> it<02:44:41.910> so<02:44:42.090> it<02:44:42.900> gets<02:44:43.080> all<02:44:43.230> this<02:44:43.440> if 02:44:43.640 --> 02:44:43.650 align:start position:0% and we solve it so it gets all this if 02:44:43.650 --> 02:44:45.251 align:start position:0% and we solve it so it gets all this if we<02:44:43.770> use<02:44:43.800> a<02:44:43.920> smart<02:44:44.250> contract 02:44:45.251 --> 02:44:45.261 align:start position:0% we use a smart contract 02:44:45.261 --> 02:44:48.131 align:start position:0% we use a smart contract so<02:44:45.700> what's<02:44:46.700> really<02:44:47.000> special<02:44:47.360> ears<02:44:47.870> that<02:44:48.080> a 02:44:48.131 --> 02:44:48.141 align:start position:0% so what's really special ears that a 02:44:48.141 --> 02:44:51.011 align:start position:0% so what's really special ears that a smart<02:44:48.440> contract<02:44:48.620> and<02:44:49.610> essentially<02:44:50.480> bones<02:44:50.690> the 02:44:51.011 --> 02:44:51.021 align:start position:0% smart contract and essentially bones the 02:44:51.021 --> 02:44:54.791 align:start position:0% smart contract and essentially bones the assets<02:44:51.641> and<02:44:52.641> allow<02:44:52.910> us<02:44:53.150> to<02:44:53.570> transfer<02:44:54.561> them 02:44:54.791 --> 02:44:54.801 align:start position:0% assets and allow us to transfer them 02:44:54.801 --> 02:44:57.730 align:start position:0% assets and allow us to transfer them so<02:44:54.921> if<02:44:55.160> alice<02:44:55.490> has<02:44:55.730> X<02:44:56.000> and<02:44:56.480> broth<02:44:56.690> has<02:44:56.900> one<02:44:57.110> we 02:44:57.730 --> 02:44:57.740 align:start position:0% so if alice has X and broth has one we 02:44:57.740 --> 02:44:59.650 align:start position:0% so if alice has X and broth has one we can<02:44:57.921> send<02:44:58.160> it<02:44:58.370> to<02:44:58.490> the<02:44:58.580> smart<02:44:58.820> contract<02:44:59.000> then 02:44:59.650 --> 02:44:59.660 align:start position:0% can send it to the smart contract then 02:44:59.660 --> 02:45:01.421 align:start position:0% can send it to the smart contract then the<02:44:59.690> smart<02:45:00.051> contract<02:45:00.230> can<02:45:00.771> actually<02:45:01.160> do<02:45:01.280> the 02:45:01.421 --> 02:45:01.431 align:start position:0% the smart contract can actually do the 02:45:01.431 --> 02:45:03.850 align:start position:0% the smart contract can actually do the dispersal<02:45:02.171> safely<02:45:03.171> so<02:45:03.410> this<02:45:03.530> is<02:45:03.711> really 02:45:03.850 --> 02:45:03.860 align:start position:0% dispersal safely so this is really 02:45:03.860 --> 02:45:06.490 align:start position:0% dispersal safely so this is really really<02:45:03.980> cool<02:45:04.570> cuz<02:45:05.570> that<02:45:05.721> means<02:45:05.841> we've<02:45:06.080> solved 02:45:06.490 --> 02:45:06.500 align:start position:0% really cool cuz that means we've solved 02:45:06.500 --> 02:45:08.320 align:start position:0% really cool cuz that means we've solved the<02:45:06.650> social<02:45:07.011> problem<02:45:07.400> of<02:45:07.730> transactional 02:45:08.320 --> 02:45:08.330 align:start position:0% the social problem of transactional 02:45:08.330 --> 02:45:09.990 align:start position:0% the social problem of transactional insecurity<02:45:08.900> without<02:45:09.381> using<02:45:09.740> traditional 02:45:09.990 --> 02:45:10.000 align:start position:0% insecurity without using traditional 02:45:10.000 --> 02:45:13.930 align:start position:0% insecurity without using traditional context<02:45:11.000> and<02:45:11.990> so<02:45:12.261> you<02:45:12.801> might<02:45:12.980> be<02:45:13.160> saying<02:45:13.370> well 02:45:13.930 --> 02:45:13.940 align:start position:0% context and so you might be saying well 02:45:13.940 --> 02:45:15.581 align:start position:0% context and so you might be saying well you<02:45:14.301> know<02:45:14.330> that<02:45:14.570> was<02:45:14.690> just<02:45:14.721> a<02:45:15.021> simple<02:45:15.351> swap 02:45:15.581 --> 02:45:15.591 align:start position:0% you know that was just a simple swap 02:45:15.591 --> 02:45:18.490 align:start position:0% you know that was just a simple swap what<02:45:16.400> about<02:45:16.671> what<02:45:17.601> about<02:45:17.631> promises<02:45:18.351> that 02:45:18.490 --> 02:45:18.500 align:start position:0% what about what about promises that 02:45:18.500 --> 02:45:19.990 align:start position:0% what about what about promises that unfold<02:45:18.891> over<02:45:19.040> time<02:45:19.190> what<02:45:19.580> about<02:45:19.610> mark 02:45:19.990 --> 02:45:20.000 align:start position:0% unfold over time what about mark 02:45:20.000 --> 02:45:23.980 align:start position:0% unfold over time what about mark complexly<02:45:20.480> and<02:45:22.511> and<02:45:23.511> you<02:45:23.631> would<02:45:23.750> be<02:45:23.870> right 02:45:23.980 --> 02:45:23.990 align:start position:0% complexly and and you would be right 02:45:23.990 --> 02:45:26.020 align:start position:0% complexly and and you would be right that's<02:45:24.171> a<02:45:24.261> big<02:45:24.381> questions<02:45:24.711> let's<02:45:25.011> open<02:45:25.221> up<02:45:25.461> the 02:45:26.020 --> 02:45:26.030 align:start position:0% that's a big questions let's open up the 02:45:26.030 --> 02:45:28.990 align:start position:0% that's a big questions let's open up the black<02:45:26.330> box<02:45:26.631> of<02:45:26.870> contract<02:45:27.381> enforcement<02:45:27.591> and<02:45:28.341> so 02:45:28.990 --> 02:45:29.000 align:start position:0% black box of contract enforcement and so 02:45:29.000 --> 02:45:30.341 align:start position:0% black box of contract enforcement and so there's<02:45:29.181> two<02:45:29.360> steps<02:45:29.601> there's<02:45:29.990> a 02:45:30.341 --> 02:45:30.351 align:start position:0% there's two steps there's a 02:45:30.351 --> 02:45:32.621 align:start position:0% there's two steps there's a classification<02:45:31.011> step<02:45:31.641> and<02:45:31.910> then<02:45:32.391> there's 02:45:32.621 --> 02:45:32.631 align:start position:0% classification step and then there's 02:45:32.631 --> 02:45:36.610 align:start position:0% classification step and then there's appliance<02:45:33.141> and<02:45:33.261> control<02:45:35.230> and<02:45:36.230> this<02:45:36.351> comes 02:45:36.610 --> 02:45:36.620 align:start position:0% appliance and control and this comes 02:45:36.620 --> 02:45:39.581 align:start position:0% appliance and control and this comes from<02:45:36.801> a<02:45:37.070> great<02:45:37.311> talk<02:45:37.551> by<02:45:37.580> Professor<02:45:38.591> Oliver 02:45:39.581 --> 02:45:39.591 align:start position:0% from a great talk by Professor Oliver 02:45:39.591 --> 02:45:41.081 align:start position:0% from a great talk by Professor Oliver Peck<02:45:39.740> not<02:45:39.891> called<02:45:40.131> ambiguity<02:45:40.730> and<02:45:40.820> legal 02:45:41.081 --> 02:45:41.091 align:start position:0% Peck not called ambiguity and legal 02:45:41.091 --> 02:45:43.451 align:start position:0% Peck not called ambiguity and legal specification<02:45:41.811> but<02:45:42.440> what<02:45:42.591> is<02:45:42.771> list<02:45:43.070> is<02:45:43.250> that 02:45:43.451 --> 02:45:43.461 align:start position:0% specification but what is list is that 02:45:43.461 --> 02:45:45.970 align:start position:0% specification but what is list is that so<02:45:44.360> there's<02:45:44.570> the<02:45:44.721> event<02:45:44.931> classification<02:45:45.711> step 02:45:45.970 --> 02:45:45.980 align:start position:0% so there's the event classification step 02:45:45.980 --> 02:45:48.371 align:start position:0% so there's the event classification step break<02:45:46.221> that<02:45:46.671> says<02:45:46.910> has<02:45:47.211> X<02:45:47.511> happened<02:45:47.961> or<02:45:48.171> not 02:45:48.371 --> 02:45:48.381 align:start position:0% break that says has X happened or not 02:45:48.381 --> 02:45:50.201 align:start position:0% break that says has X happened or not and<02:45:48.771> then<02:45:49.311> there's<02:45:49.580> applying<02:45:49.971> the<02:45:50.120> correct 02:45:50.201 --> 02:45:50.211 align:start position:0% and then there's applying the correct 02:45:50.211 --> 02:45:55.480 align:start position:0% and then there's applying the correct rules<02:45:50.601> so<02:45:50.780> if<02:45:51.021> X<02:45:51.320> happens<02:45:51.530> then<02:45:52.011> dy<02:45:53.440> and<02:45:54.490> it 02:45:55.480 --> 02:45:55.490 align:start position:0% rules so if X happens then dy and it 02:45:55.490 --> 02:45:57.371 align:start position:0% rules so if X happens then dy and it turns<02:45:55.730> out<02:45:55.910> that<02:45:56.120> humans<02:45:56.480> are<02:45:56.660> much<02:45:56.841> better<02:45:57.080> at 02:45:57.371 --> 02:45:57.381 align:start position:0% turns out that humans are much better at 02:45:57.381 --> 02:45:59.831 align:start position:0% turns out that humans are much better at classification<02:45:58.160> than<02:45:58.820> computers<02:45:59.271> aren't<02:45:59.511> so 02:45:59.831 --> 02:45:59.841 align:start position:0% classification than computers aren't so 02:45:59.841 --> 02:46:04.240 align:start position:0% classification than computers aren't so like<02:46:00.200> for<02:46:00.620> example<02:46:00.790> in<02:46:02.711> entender<02:46:03.711> law<02:46:03.891> it's 02:46:04.240 --> 02:46:04.250 align:start position:0% like for example in entender law it's 02:46:04.250 --> 02:46:05.381 align:start position:0% like for example in entender law it's really<02:46:04.521> important<02:46:04.881> to<02:46:04.940> know<02:46:05.030> that<02:46:05.240> the 02:46:05.381 --> 02:46:05.391 align:start position:0% really important to know that the 02:46:05.391 --> 02:46:07.820 align:start position:0% really important to know that the apartment<02:46:05.811> is<02:46:05.841> happening<02:46:06.320> so<02:46:06.921> you're<02:46:07.221> doing 02:46:07.820 --> 02:46:07.830 align:start position:0% apartment is happening so you're doing 02:46:07.830 --> 02:46:10.580 align:start position:0% apartment is happening so you're doing you<02:46:08.700> would<02:46:08.820> have<02:46:08.970> to<02:46:09.150> have<02:46:09.300> sensory<02:46:09.811> or<02:46:10.140> like 02:46:10.580 --> 02:46:10.590 align:start position:0% you would have to have sensory or like 02:46:10.590 --> 02:46:14.420 align:start position:0% you would have to have sensory or like carbon<02:46:11.370> monoxide<02:46:11.840> for<02:46:12.840> vermin<02:46:13.530> for<02:46:13.950> you<02:46:14.311> know 02:46:14.420 --> 02:46:14.430 align:start position:0% carbon monoxide for vermin for you know 02:46:14.430 --> 02:46:16.460 align:start position:0% carbon monoxide for vermin for you know you<02:46:14.970> can<02:46:15.120> remote<02:46:15.630> you<02:46:15.780> can<02:46:15.900> imagine<02:46:16.050> all<02:46:16.320> the 02:46:16.460 --> 02:46:16.470 align:start position:0% you can remote you can imagine all the 02:46:16.470 --> 02:46:17.930 align:start position:0% you can remote you can imagine all the things<02:46:16.500> that<02:46:16.800> you<02:46:16.890> have<02:46:17.070> to<02:46:17.280> do<02:46:17.370> about<02:46:17.580> a<02:46:17.640> trap 02:46:17.930 --> 02:46:17.940 align:start position:0% things that you have to do about a trap 02:46:17.940 --> 02:46:20.060 align:start position:0% things that you have to do about a trap but<02:46:18.720> you<02:46:18.840> can<02:46:18.990> actually<02:46:19.350> just<02:46:19.561> have<02:46:19.650> that<02:46:19.950> you 02:46:20.060 --> 02:46:20.070 align:start position:0% but you can actually just have that you 02:46:20.070 --> 02:46:21.200 align:start position:0% but you can actually just have that you might<02:46:20.190> mean<02:46:20.400> that<02:46:20.430> you<02:46:20.670> can<02:46:20.790> inspect<02:46:21.030> your 02:46:21.200 --> 02:46:21.210 align:start position:0% might mean that you can inspect your 02:46:21.210 --> 02:46:23.330 align:start position:0% might mean that you can inspect your going<02:46:21.570> on<02:46:21.600> saying<02:46:21.930> oh<02:46:22.200> this<02:46:22.680> looks<02:46:22.950> popular 02:46:23.330 --> 02:46:23.340 align:start position:0% going on saying oh this looks popular 02:46:23.340 --> 02:46:26.030 align:start position:0% going on saying oh this looks popular right<02:46:23.670> so<02:46:23.850> that<02:46:24.000> would<02:46:24.120> be<02:46:24.210> a<02:46:24.240> lot<02:46:24.390> easier<02:46:25.040> so 02:46:26.030 --> 02:46:26.040 align:start position:0% right so that would be a lot easier so 02:46:26.040 --> 02:46:27.740 align:start position:0% right so that would be a lot easier so humans<02:46:26.460> are<02:46:26.550> graded<02:46:26.850> classification<02:46:27.570> but 02:46:27.740 --> 02:46:27.750 align:start position:0% humans are graded classification but 02:46:27.750 --> 02:46:30.080 align:start position:0% humans are graded classification but they're<02:46:27.900> terrible<02:46:28.110> at<02:46:28.620> rural<02:46:29.040> application<02:46:29.670> so 02:46:30.080 --> 02:46:30.090 align:start position:0% they're terrible at rural application so 02:46:30.090 --> 02:46:31.340 align:start position:0% they're terrible at rural application so as<02:46:30.360> we<02:46:30.540> all<02:46:30.570> know<02:46:30.780> there's<02:46:31.110> a<02:46:31.170> lot<02:46:31.230> of 02:46:31.340 --> 02:46:31.350 align:start position:0% as we all know there's a lot of 02:46:31.350 --> 02:46:34.460 align:start position:0% as we all know there's a lot of corruptions<02:46:32.600> misunderstandings<02:46:33.600> all<02:46:34.200> sorts 02:46:34.460 --> 02:46:34.470 align:start position:0% corruptions misunderstandings all sorts 02:46:34.470 --> 02:46:37.700 align:start position:0% corruptions misunderstandings all sorts of<02:46:34.530> constraint<02:46:35.930> so<02:46:36.930> it<02:46:37.110> turns<02:46:37.290> out<02:46:37.440> that<02:46:37.500> we 02:46:37.700 --> 02:46:37.710 align:start position:0% of constraint so it turns out that we 02:46:37.710 --> 02:46:39.530 align:start position:0% of constraint so it turns out that we can<02:46:37.860> have<02:46:38.010> the<02:46:38.490> best<02:46:38.640> of<02:46:38.850> both<02:46:38.910> worlds<02:46:39.390> and 02:46:39.530 --> 02:46:39.540 align:start position:0% can have the best of both worlds and 02:46:39.540 --> 02:46:41.390 align:start position:0% can have the best of both worlds and this<02:46:39.750> is<02:46:39.930> where<02:46:40.110> things<02:46:40.650> like<02:46:40.830> lettuce<02:46:41.070> come 02:46:41.390 --> 02:46:41.400 align:start position:0% this is where things like lettuce come 02:46:41.400 --> 02:46:44.000 align:start position:0% this is where things like lettuce come in<02:46:41.521> so<02:46:42.300> we<02:46:42.870> can<02:46:42.990> have<02:46:43.110> any<02:46:43.200> human<02:46:43.440> classifier 02:46:44.000 --> 02:46:44.010 align:start position:0% in so we can have any human classifier 02:46:44.010 --> 02:46:46.011 align:start position:0% in so we can have any human classifier human<02:46:44.640> classifier<02:46:45.150> saying<02:46:45.480> yes<02:46:45.690> this<02:46:45.840> is 02:46:46.011 --> 02:46:46.021 align:start position:0% human classifier saying yes this is 02:46:46.021 --> 02:46:47.780 align:start position:0% human classifier saying yes this is habitable<02:46:46.380> and<02:46:46.740> that<02:46:47.070> can<02:46:47.250> be<02:46:47.370> part<02:46:47.610> of<02:46:47.670> that 02:46:47.780 --> 02:46:47.790 align:start position:0% habitable and that can be part of that 02:46:47.790 --> 02:46:50.060 align:start position:0% habitable and that can be part of that input<02:46:47.970> in<02:46:48.330> the<02:46:48.420> smart<02:46:48.630> contract<02:46:48.780> we<02:46:49.771> can<02:46:49.800> also 02:46:50.060 --> 02:46:50.070 align:start position:0% input in the smart contract we can also 02:46:50.070 --> 02:46:51.890 align:start position:0% input in the smart contract we can also have<02:46:50.311> human<02:46:50.670> dispute<02:46:51.000> resolution<02:46:51.480> systems 02:46:51.890 --> 02:46:51.900 align:start position:0% have human dispute resolution systems 02:46:51.900 --> 02:46:54.080 align:start position:0% have human dispute resolution systems such<02:46:52.140> that<02:46:52.250> if<02:46:53.250> something<02:46:53.670> is<02:46:53.730> triggered<02:46:54.061> to 02:46:54.080 --> 02:46:54.090 align:start position:0% such that if something is triggered to 02:46:54.090 --> 02:46:56.090 align:start position:0% such that if something is triggered to gets<02:46:54.330> indexed<02:46:54.630> in<02:46:55.170> dispute<02:46:55.500> resolution<02:46:55.950> and 02:46:56.090 --> 02:46:56.100 align:start position:0% gets indexed in dispute resolution and 02:46:56.100 --> 02:46:59.290 align:start position:0% gets indexed in dispute resolution and then<02:46:56.220> comes<02:46:56.400> back<02:46:56.490> into<02:46:56.790> the<02:46:56.970> smart<02:46:57.210> contract 02:46:59.290 --> 02:46:59.300 align:start position:0% then comes back into the smart contract 02:46:59.300 --> 02:47:01.880 align:start position:0% then comes back into the smart contract so<02:47:00.300> we<02:47:00.600> talked<02:47:00.960> about<02:47:01.080> vulnerability<02:47:01.800> of 02:47:01.880 --> 02:47:01.890 align:start position:0% so we talked about vulnerability of 02:47:01.890 --> 02:47:03.500 align:start position:0% so we talked about vulnerability of protection<02:47:02.311> we<02:47:02.430> talked<02:47:02.610> about<02:47:02.730> transactional 02:47:03.500 --> 02:47:03.510 align:start position:0% protection we talked about transactional 02:47:03.510 --> 02:47:05.810 align:start position:0% protection we talked about transactional security<02:47:04.050> and<02:47:04.260> help<02:47:04.500> property<02:47:05.490> rights<02:47:05.670> of 02:47:05.810 --> 02:47:05.820 align:start position:0% security and help property rights of 02:47:05.820 --> 02:47:07.970 align:start position:0% security and help property rights of contractors<02:47:06.390> solutions<02:47:06.811> to<02:47:06.960> those<02:47:07.080> but<02:47:07.710> do<02:47:07.860> we 02:47:07.970 --> 02:47:07.980 align:start position:0% contractors solutions to those but do we 02:47:07.980 --> 02:47:12.830 align:start position:0% contractors solutions to those but do we actually<02:47:08.160> have<02:47:08.580> you<02:47:08.880> a<02:47:08.910> lot<02:47:11.330> so<02:47:12.330> going<02:47:12.510> back<02:47:12.780> to 02:47:12.830 --> 02:47:12.840 align:start position:0% actually have you a lot so going back to 02:47:12.840 --> 02:47:14.630 align:start position:0% actually have you a lot so going back to the<02:47:13.350> rules<02:47:13.561> of<02:47:13.740> the<02:47:13.830> go<02:47:13.950> to<02:47:14.010> the<02:47:14.160> class<02:47:14.311> of<02:47:14.460> each 02:47:14.630 --> 02:47:14.640 align:start position:0% the rules of the go to the class of each 02:47:14.640 --> 02:47:17.810 align:start position:0% the rules of the go to the class of each institution<02:47:15.320> so<02:47:16.320> number<02:47:16.561> one<02:47:16.800> is<02:47:17.580> the 02:47:17.810 --> 02:47:17.820 align:start position:0% institution so number one is the 02:47:17.820 --> 02:47:19.220 align:start position:0% institution so number one is the decision<02:47:18.180> making<02:47:18.480> market<02:47:18.840> publicly 02:47:19.220 --> 02:47:19.230 align:start position:0% decision making market publicly 02:47:19.230 --> 02:47:21.230 align:start position:0% decision making market publicly available<02:47:19.410> this<02:47:20.130> is<02:47:20.280> obviously<02:47:20.730> true<02:47:20.970> for 02:47:21.230 --> 02:47:21.240 align:start position:0% available this is obviously true for 02:47:21.240 --> 02:47:22.820 align:start position:0% available this is obviously true for watching<02:47:21.690> right<02:47:21.900> we<02:47:22.200> have<02:47:22.320> to<02:47:22.470> be<02:47:22.561> able<02:47:22.650> to 02:47:22.820 --> 02:47:22.830 align:start position:0% watching right we have to be able to 02:47:22.830 --> 02:47:24.470 align:start position:0% watching right we have to be able to replicate<02:47:23.010> it<02:47:23.311> so<02:47:23.580> it<02:47:23.820> has<02:47:23.940> to<02:47:24.061> be<02:47:24.150> publicly 02:47:24.470 --> 02:47:24.480 align:start position:0% replicate it so it has to be publicly 02:47:24.480 --> 02:47:27.320 align:start position:0% replicate it so it has to be publicly available<02:47:25.311> number<02:47:26.311> two<02:47:26.610> does<02:47:26.850> it<02:47:26.970> resolve 02:47:27.320 --> 02:47:27.330 align:start position:0% available number two does it resolve 02:47:27.330 --> 02:47:30.020 align:start position:0% available number two does it resolve ambiguity<02:47:28.130> so<02:47:29.130> things<02:47:29.640> have<02:47:29.850> to<02:47:29.940> be 02:47:30.020 --> 02:47:30.030 align:start position:0% ambiguity so things have to be 02:47:30.030 --> 02:47:30.730 align:start position:0% ambiguity so things have to be determined<02:47:30.300> this 02:47:30.730 --> 02:47:30.740 align:start position:0% determined this 02:47:30.740 --> 02:47:32.110 align:start position:0% determined this you<02:47:30.920> can't<02:47:31.160> really<02:47:31.490> allow<02:47:31.700> for<02:47:31.730> anything 02:47:32.110 --> 02:47:32.120 align:start position:0% you can't really allow for anything 02:47:32.120 --> 02:47:33.520 align:start position:0% you can't really allow for anything committee<02:47:32.480> so<02:47:32.780> I<02:47:32.840> would<02:47:33.021> say<02:47:33.200> that<02:47:33.230> this<02:47:33.471> is 02:47:33.520 --> 02:47:33.530 align:start position:0% committee so I would say that this is 02:47:33.530 --> 02:47:34.261 align:start position:0% committee so I would say that this is yes 02:47:34.261 --> 02:47:34.271 align:start position:0% yes 02:47:34.271 --> 02:47:38.620 align:start position:0% yes number<02:47:35.271> three<02:47:35.540> is<02:47:35.721> it<02:47:35.900> stable<02:47:36.610> so<02:47:37.610> or<02:47:38.090> anything 02:47:38.620 --> 02:47:38.630 align:start position:0% number three is it stable so or anything 02:47:38.630 --> 02:47:41.560 align:start position:0% number three is it stable so or anything on<02:47:38.870> watching<02:47:39.380> to<02:47:39.410> be<02:47:39.920> used<02:47:40.790> to<02:47:41.090> solving<02:47:41.420> social 02:47:41.560 --> 02:47:41.570 align:start position:0% on watching to be used to solving social 02:47:41.570 --> 02:47:43.990 align:start position:0% on watching to be used to solving social problems<02:47:41.750> it<02:47:42.230> has<02:47:42.380> to<02:47:42.561> be<02:47:42.650> long-lasting<02:47:43.040> so<02:47:43.940> I 02:47:43.990 --> 02:47:44.000 align:start position:0% problems it has to be long-lasting so I 02:47:44.000 --> 02:47:46.140 align:start position:0% problems it has to be long-lasting so I think<02:47:44.090> this<02:47:44.330> still<02:47:44.540> remains<02:47:44.811> to<02:47:44.960> be<02:47:44.990> seen<02:47:45.290> okay 02:47:46.140 --> 02:47:46.150 align:start position:0% think this still remains to be seen okay 02:47:46.150 --> 02:47:49.091 align:start position:0% think this still remains to be seen okay number<02:47:47.150> four<02:47:47.450> gives<02:47:48.050> predictable<02:47:48.650> results 02:47:49.091 --> 02:47:49.101 align:start position:0% number four gives predictable results 02:47:49.101 --> 02:47:53.801 align:start position:0% number four gives predictable results for<02:47:49.280> novel<02:47:49.550> infants<02:47:50.800> so<02:47:51.800> this<02:47:52.580> is<02:47:52.790> kind<02:47:53.030> of<02:47:53.181> yes 02:47:53.801 --> 02:47:53.811 align:start position:0% for novel infants so this is kind of yes 02:47:53.811 --> 02:47:59.440 align:start position:0% for novel infants so this is kind of yes and<02:47:53.840> no<02:47:55.090> so<02:47:56.090> on<02:47:56.420> a<02:47:56.450> watching<02:47:56.960> we<02:47:57.200> can<02:47:58.120> we<02:47:59.120> can<02:47:59.271> we 02:47:59.440 --> 02:47:59.450 align:start position:0% and no so on a watching we can we can we 02:47:59.450 --> 02:48:01.600 align:start position:0% and no so on a watching we can we can we can<02:47:59.630> say<02:47:59.811> FX<02:48:00.230> and<02:48:00.471> we<02:48:00.500> can<02:48:00.681> say<02:48:00.830> if<02:48:01.040> not<02:48:01.280> X<02:48:01.460> and 02:48:01.600 --> 02:48:01.610 align:start position:0% can say FX and we can say if not X and 02:48:01.610 --> 02:48:02.921 align:start position:0% can say FX and we can say if not X and that's<02:48:01.730> the<02:48:01.940> entire<02:48:02.181> universe<02:48:02.601> so<02:48:02.811> the 02:48:02.921 --> 02:48:02.931 align:start position:0% that's the entire universe so the 02:48:02.931 --> 02:48:05.740 align:start position:0% that's the entire universe so the possibilities<02:48:03.561> right<02:48:03.771> but<02:48:04.610> at<02:48:05.271> the<02:48:05.420> same<02:48:05.570> time 02:48:05.740 --> 02:48:05.750 align:start position:0% possibilities right but at the same time 02:48:05.750 --> 02:48:07.120 align:start position:0% possibilities right but at the same time there's<02:48:06.080> probably<02:48:06.471> going<02:48:06.681> to<02:48:06.771> be<02:48:06.830> things<02:48:07.070> that 02:48:07.120 --> 02:48:07.130 align:start position:0% there's probably going to be things that 02:48:07.130 --> 02:48:09.490 align:start position:0% there's probably going to be things that we<02:48:07.340> don't<02:48:07.431> expect<02:48:07.820> so<02:48:08.750> I<02:48:08.811> think<02:48:08.900> this<02:48:09.110> one<02:48:09.320> is<02:48:09.351> a 02:48:09.490 --> 02:48:09.500 align:start position:0% we don't expect so I think this one is a 02:48:09.500 --> 02:48:10.870 align:start position:0% we don't expect so I think this one is a baby<02:48:09.710> we're<02:48:10.160> working<02:48:10.490> on<02:48:10.610> it 02:48:10.870 --> 02:48:10.880 align:start position:0% baby we're working on it 02:48:10.880 --> 02:48:14.410 align:start position:0% baby we're working on it number<02:48:11.690> five<02:48:12.190> so<02:48:13.190> a<02:48:13.521> smart<02:48:13.851> contract<02:48:14.061> for 02:48:14.410 --> 02:48:14.420 align:start position:0% number five so a smart contract for 02:48:14.420 --> 02:48:16.631 align:start position:0% number five so a smart contract for anyone<02:48:14.660> watching<02:48:15.110> it<02:48:15.351> isn't<02:48:15.830> personal<02:48:15.950> right 02:48:16.631 --> 02:48:16.641 align:start position:0% anyone watching it isn't personal right 02:48:16.641 --> 02:48:18.341 align:start position:0% anyone watching it isn't personal right done<02:48:16.851> so<02:48:17.181> on<02:48:17.450> and<02:48:17.601> watching<02:48:17.721> you<02:48:18.021> don't<02:48:18.170> even 02:48:18.341 --> 02:48:18.351 align:start position:0% done so on and watching you don't even 02:48:18.351 --> 02:48:20.140 align:start position:0% done so on and watching you don't even know<02:48:18.500> do<02:48:19.040> someone<02:48:19.370> else<02:48:19.521> we<02:48:19.700> don't<02:48:19.820> even<02:48:20.061> know 02:48:20.140 --> 02:48:20.150 align:start position:0% know do someone else we don't even know 02:48:20.150 --> 02:48:22.690 align:start position:0% know do someone else we don't even know if<02:48:20.300> it's<02:48:20.450> a<02:48:20.510> machine<02:48:20.811> or<02:48:21.080> a<02:48:21.530> person<02:48:22.040> so<02:48:22.521> it's 02:48:22.690 --> 02:48:22.700 align:start position:0% if it's a machine or a person so it's 02:48:22.700 --> 02:48:26.440 align:start position:0% if it's a machine or a person so it's very<02:48:22.851> impersonal<02:48:23.500> and<02:48:24.500> number<02:48:25.040> six<02:48:25.311> it<02:48:26.210> can 02:48:26.440 --> 02:48:26.450 align:start position:0% very impersonal and number six it can 02:48:26.450 --> 02:48:28.421 align:start position:0% very impersonal and number six it can produce<02:48:26.660> new<02:48:27.410> bubbles<02:48:27.710> by<02:48:27.860> soliciting 02:48:28.421 --> 02:48:28.431 align:start position:0% produce new bubbles by soliciting 02:48:28.431 --> 02:48:30.640 align:start position:0% produce new bubbles by soliciting information<02:48:28.521> from<02:48:29.030> users<02:48:29.181> and<02:48:30.141> if<02:48:30.290> this<02:48:30.410> one 02:48:30.640 --> 02:48:30.650 align:start position:0% information from users and if this one 02:48:30.650 --> 02:48:33.730 align:start position:0% information from users and if this one is<02:48:31.280> also<02:48:31.550> one<02:48:31.760> that<02:48:32.110> watching<02:48:33.110> ecosystem<02:48:33.681> this 02:48:33.730 --> 02:48:33.740 align:start position:0% is also one that watching ecosystem this 02:48:33.740 --> 02:48:37.990 align:start position:0% is also one that watching ecosystem this week<02:48:33.980> on<02:48:34.690> we<02:48:35.690> can<02:48:36.101> produce<02:48:37.101> neutrals<02:48:37.670> by 02:48:37.990 --> 02:48:38.000 align:start position:0% week on we can produce neutrals by 02:48:38.000 --> 02:48:39.850 align:start position:0% week on we can produce neutrals by transitioning<02:48:38.690> to<02:48:38.900> be<02:48:39.021> block<02:48:39.260> chains<02:48:39.530> or<02:48:39.740> news 02:48:39.850 --> 02:48:39.860 align:start position:0% transitioning to be block chains or news 02:48:39.860 --> 02:48:42.220 align:start position:0% transitioning to be block chains or news or<02:48:40.190> upgrading<02:48:40.730> to<02:48:40.851> new<02:48:40.940> smart<02:48:41.210> contracts<02:48:41.630> but 02:48:42.220 --> 02:48:42.230 align:start position:0% or upgrading to new smart contracts but 02:48:42.230 --> 02:48:44.051 align:start position:0% or upgrading to new smart contracts but that's<02:48:42.500> very<02:48:42.590> difficult<02:48:42.920> that<02:48:43.370> still<02:48:43.580> remains 02:48:44.051 --> 02:48:44.061 align:start position:0% that's very difficult that still remains 02:48:44.061 --> 02:48:47.131 align:start position:0% that's very difficult that still remains to<02:48:44.120> be<02:48:44.210> seen<02:48:44.510> how<02:48:44.721> how<02:48:45.230> good<02:48:45.380> we<02:48:45.530> are 02:48:47.131 --> 02:48:47.141 align:start position:0% to be seen how how good we are 02:48:47.141 --> 02:48:49.480 align:start position:0% to be seen how how good we are so<02:48:48.141> inclusion 02:48:49.480 --> 02:48:49.490 align:start position:0% so inclusion 02:48:49.490 --> 02:48:51.820 align:start position:0% so inclusion we<02:48:49.610> took<02:48:49.760> the<02:48:49.910> functional<02:48:50.360> approach<02:48:50.830> we 02:48:51.820 --> 02:48:51.830 align:start position:0% we took the functional approach we 02:48:51.830 --> 02:48:53.290 align:start position:0% we took the functional approach we talked<02:48:52.040> about<02:48:52.190> the<02:48:52.550> rule<02:48:52.760> of<02:48:52.850> law<02:48:53.000> as<02:48:53.240> a 02:48:53.290 --> 02:48:53.300 align:start position:0% talked about the rule of law as a 02:48:53.300 --> 02:48:55.660 align:start position:0% talked about the rule of law as a classification<02:48:53.900> institution<02:48:54.830> we<02:48:55.460> talked 02:48:55.660 --> 02:48:55.670 align:start position:0% classification institution we talked 02:48:55.670 --> 02:48:57.580 align:start position:0% classification institution we talked about<02:48:55.820> the<02:48:56.150> social<02:48:56.270> problems<02:48:56.870> to<02:48:57.080> solve 02:48:57.580 --> 02:48:57.590 align:start position:0% about the social problems to solve 02:48:57.590 --> 02:48:59.170 align:start position:0% about the social problems to solve right<02:48:57.830> so<02:48:58.040> the<02:48:58.160> owner<02:48:58.340> ability<02:48:58.670> possession 02:48:59.170 --> 02:48:59.180 align:start position:0% right so the owner ability possession 02:48:59.180 --> 02:49:01.810 align:start position:0% right so the owner ability possession and<02:48:59.479> transactional<02:49:00.110> and<02:49:00.260> security<02:49:00.710> and<02:49:01.130> it 02:49:01.810 --> 02:49:01.820 align:start position:0% and transactional and security and it 02:49:01.820 --> 02:49:04.930 align:start position:0% and transactional and security and it turns<02:49:02.090> out<02:49:02.270> that<02:49:02.840> for<02:49:03.530> on<02:49:03.710> J<02:49:03.920> assets<02:49:04.400> we<02:49:04.910> can 02:49:04.930 --> 02:49:04.940 align:start position:0% turns out that for on J assets we can 02:49:04.940 --> 02:49:06.880 align:start position:0% turns out that for on J assets we can require<02:49:05.540> sophisticated<02:49:05.780> property<02:49:06.650> rights 02:49:06.880 --> 02:49:06.890 align:start position:0% require sophisticated property rights 02:49:06.890 --> 02:49:08.469 align:start position:0% require sophisticated property rights that<02:49:06.979> we<02:49:07.100> can<02:49:07.250> solve<02:49:07.430> simple<02:49:07.850> transaction<02:49:08.420> on 02:49:08.469 --> 02:49:08.479 align:start position:0% that we can solve simple transaction on 02:49:08.479 --> 02:49:10.840 align:start position:0% that we can solve simple transaction on security<02:49:09.050> we're<02:49:09.530> still<02:49:09.710> early<02:49:09.740> on<02:49:10.130> as<02:49:10.490> I'm 02:49:10.840 --> 02:49:10.850 align:start position:0% security we're still early on as I'm 02:49:10.850 --> 02:49:13.270 align:start position:0% security we're still early on as I'm sure<02:49:11.030> all<02:49:11.090> you<02:49:11.390> know<02:49:11.710> censorship<02:49:12.710> resistant 02:49:13.270 --> 02:49:13.280 align:start position:0% sure all you know censorship resistant 02:49:13.280 --> 02:49:15.250 align:start position:0% sure all you know censorship resistant articles<02:49:13.790> often<02:49:14.300> and<02:49:14.450> we're<02:49:14.540> working<02:49:15.020> on 02:49:15.250 --> 02:49:15.260 align:start position:0% articles often and we're working on 02:49:15.260 --> 02:49:17.500 align:start position:0% articles often and we're working on solutions<02:49:15.410> for<02:49:15.830> off<02:49:15.950> chain<02:49:16.220> assets<02:49:16.610> but<02:49:17.300> the 02:49:17.500 --> 02:49:17.510 align:start position:0% solutions for off chain assets but the 02:49:17.510 --> 02:49:18.880 align:start position:0% solutions for off chain assets but the really<02:49:17.750> cool<02:49:17.780> thing<02:49:18.080> is<02:49:18.110> that<02:49:18.260> I'm<02:49:18.470> watching 02:49:18.880 --> 02:49:18.890 align:start position:0% really cool thing is that I'm watching 02:49:18.890 --> 02:49:21.370 align:start position:0% really cool thing is that I'm watching as<02:49:19.160> a<02:49:19.220> smart<02:49:19.580> contract<02:49:19.760> platform<02:49:20.479> can<02:49:21.020> provide 02:49:21.370 --> 02:49:21.380 align:start position:0% as a smart contract platform can provide 02:49:21.380 --> 02:49:24.430 align:start position:0% as a smart contract platform can provide at<02:49:21.710> least<02:49:21.740> parts<02:49:22.250> of<02:49:22.340> the<02:49:22.640> robot<02:49:22.990> so<02:49:23.990> thank<02:49:24.320> you 02:49:24.430 --> 02:49:24.440 align:start position:0% at least parts of the robot so thank you 02:49:24.440 --> 02:49:31.440 align:start position:0% at least parts of the robot so thank you so<02:49:24.590> much 02:49:31.440 --> 02:49:31.450 align:start position:0% 02:49:31.450 --> 02:49:37.819 align:start position:0% [Applause]