WEBVTT Kind: captions Language: en 00:00:00.550 --> 00:00:18.109 align:start position:0% [Music] 00:00:18.109 --> 00:00:18.119 align:start position:0% 00:00:18.119 --> 00:00:19.859 align:start position:0% okay<00:00:19.119> so<00:00:19.180> I'll<00:00:19.360> tell<00:00:19.539> you<00:00:19.570> about<00:00:19.660> the 00:00:19.859 --> 00:00:19.869 align:start position:0% okay so I'll tell you about the 00:00:19.869 --> 00:00:22.170 align:start position:0% okay so I'll tell you about the decentralize<00:00:20.320> co-opting<00:00:20.710> web<00:00:20.950> and<00:00:21.340> the<00:00:22.029> black 00:00:22.170 --> 00:00:22.180 align:start position:0% decentralize co-opting web and the black 00:00:22.180 --> 00:00:23.370 align:start position:0% decentralize co-opting web and the black feed<00:00:22.390> recipe<00:00:22.810> for<00:00:23.020> the<00:00:23.110> centrist 00:00:23.370 --> 00:00:23.380 align:start position:0% feed recipe for the centrist 00:00:23.380 --> 00:00:25.800 align:start position:0% feed recipe for the centrist organization<00:00:23.950> and<00:00:24.430> let<00:00:24.910> me<00:00:24.970> just<00:00:25.210> dive 00:00:25.800 --> 00:00:25.810 align:start position:0% organization and let me just dive 00:00:25.810 --> 00:00:28.769 align:start position:0% organization and let me just dive straightly<00:00:26.560> to<00:00:27.250> here<00:00:27.789> let's<00:00:28.390> start<00:00:28.599> with<00:00:28.750> a 00:00:28.769 --> 00:00:28.779 align:start position:0% straightly to here let's start with a 00:00:28.779 --> 00:00:31.320 align:start position:0% straightly to here let's start with a quick<00:00:28.960> overview<00:00:29.430> so<00:00:30.430> you<00:00:30.490> all<00:00:30.849> know<00:00:31.060> you're 00:00:31.320 --> 00:00:31.330 align:start position:0% quick overview so you all know you're 00:00:31.330 --> 00:00:33.990 align:start position:0% quick overview so you all know you're familiar<00:00:31.510> with<00:00:31.689> the<00:00:31.869> blockchain<00:00:32.320> 1.0<00:00:32.860> such<00:00:33.850> as 00:00:33.990 --> 00:00:34.000 align:start position:0% familiar with the blockchain 1.0 such as 00:00:34.000 --> 00:00:36.240 align:start position:0% familiar with the blockchain 1.0 such as Bitcoin<00:00:34.260> the<00:00:35.260> value<00:00:35.500> system<00:00:35.800> is<00:00:35.890> hard-coded 00:00:36.240 --> 00:00:36.250 align:start position:0% Bitcoin the value system is hard-coded 00:00:36.250 --> 00:00:39.150 align:start position:0% Bitcoin the value system is hard-coded an<00:00:36.820> objective<00:00:37.449> which<00:00:38.230> means<00:00:38.470> for<00:00:38.650> example<00:00:38.680> in 00:00:39.150 --> 00:00:39.160 align:start position:0% an objective which means for example in 00:00:39.160 --> 00:00:40.770 align:start position:0% an objective which means for example in Bitcoin<00:00:39.610> the<00:00:39.790> value<00:00:39.970> system<00:00:40.300> is<00:00:40.330> defined<00:00:40.480> by 00:00:40.770 --> 00:00:40.780 align:start position:0% Bitcoin the value system is defined by 00:00:40.780 --> 00:00:44.250 align:start position:0% Bitcoin the value system is defined by proof<00:00:41.019> work<00:00:41.410> so<00:00:42.239> providing<00:00:43.239> hashing<00:00:43.600> power<00:00:43.629> is 00:00:44.250 --> 00:00:44.260 align:start position:0% proof work so providing hashing power is 00:00:44.260 --> 00:00:46.470 align:start position:0% proof work so providing hashing power is valuable<00:00:44.890> and<00:00:45.430> it's<00:00:45.580> hard-coded<00:00:46.150> into<00:00:46.330> the 00:00:46.470 --> 00:00:46.480 align:start position:0% valuable and it's hard-coded into the 00:00:46.480 --> 00:00:48.450 align:start position:0% valuable and it's hard-coded into the client<00:00:46.900> it's<00:00:47.409> an<00:00:47.500> objective<00:00:47.890> value<00:00:48.070> system 00:00:48.450 --> 00:00:48.460 align:start position:0% client it's an objective value system 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ledger itself you<00:00:53.769> can<00:00:53.920> make<00:00:54.040> it<00:00:54.129> trust<00:00:54.309> as<00:00:54.460> cash<00:00:54.760> diamonds 00:00:55.350 --> 00:00:55.360 align:start position:0% you can make it trust as cash diamonds 00:00:55.360 --> 00:00:57.960 align:start position:0% you can make it trust as cash diamonds are<00:00:55.570> achievements<00:00:56.260> and<00:00:56.619> overall<00:00:57.610> I<00:00:57.670> would<00:00:57.760> say 00:00:57.960 --> 00:00:57.970 align:start position:0% are achievements and overall I would say 00:00:57.970 --> 00:01:00.840 align:start position:0% are achievements and overall I would say that<00:00:58.119> this<00:00:58.269> class<00:00:58.629> is<00:00:59.559> in<00:00:59.949> the<00:00:59.979> early<00:01:00.489> product 00:01:00.840 --> 00:01:00.850 align:start position:0% that this class is in the early product 00:01:00.850 --> 00:01:01.789 align:start position:0% that this class is in the early product stage 00:01:01.789 --> 00:01:01.799 align:start position:0% stage 00:01:01.799 --> 00:01:05.789 align:start position:0% stage then<00:01:02.799> blockchain<00:01:03.220> 2.0<00:01:03.640> if<00:01:04.299> you<00:01:04.560> you<00:01:05.560> can<00:01:05.710> now 00:01:05.789 --> 00:01:05.799 align:start position:0% then blockchain 2.0 if you you can now 00:01:05.799 --> 00:01:08.910 align:start position:0% then blockchain 2.0 if you you can now softly<00:01:06.220> code<00:01:06.520> your<00:01:07.299> value<00:01:07.659> system<00:01:07.860> it's<00:01:08.860> still 00:01:08.910 --> 00:01:08.920 align:start position:0% softly code your value system it's still 00:01:08.920 --> 00:01:11.910 align:start position:0% softly code your value system it's still objective<00:01:09.549> so<00:01:09.790> still<00:01:10.229> valuable<00:01:11.229> contribution 00:01:11.910 --> 00:01:11.920 align:start position:0% objective so still valuable contribution 00:01:11.920 --> 00:01:14.100 align:start position:0% objective so still valuable contribution should<00:01:12.159> be<00:01:12.340> a<00:01:12.580> machine<00:01:13.420> readable<00:01:13.720> machine 00:01:14.100 --> 00:01:14.110 align:start position:0% should be a machine readable machine 00:01:14.110 --> 00:01:16.170 align:start position:0% should be a machine readable machine measurable<00:01:14.530> the<00:01:15.250> gist<00:01:15.460> of<00:01:15.549> it<00:01:15.640> you<00:01:15.700> can<00:01:15.909> deploy 00:01:16.170 --> 00:01:16.180 align:start position:0% measurable the gist of it you can deploy 00:01:16.180 --> 00:01:18.120 align:start position:0% measurable the gist of it you can deploy smart<00:01:16.630> contracts<00:01:17.229> and<00:01:17.409> now<00:01:17.530> the<00:01:17.590> dissenter<00:01:18.040> is 00:01:18.120 --> 00:01:18.130 align:start position:0% smart contracts and now the dissenter is 00:01:18.130 --> 00:01:21.149 align:start position:0% smart contracts and now the dissenter is Asian<00:01:18.460> is<00:01:18.969> about<00:01:19.570> the<00:01:19.689> execution<00:01:20.259> and<00:01:20.469> you<00:01:20.979> can 00:01:21.149 --> 00:01:21.159 align:start position:0% Asian is about the execution and you can 00:01:21.159 --> 00:01:22.410 align:start position:0% Asian is about the execution and you can basically<00:01:21.369> write<00:01:21.909> self<00:01:22.179> executing 00:01:22.410 --> 00:01:22.420 align:start position:0% basically write self executing 00:01:22.420 --> 00:01:26.039 align:start position:0% basically write self executing accounting<00:01:23.229> systems<00:01:24.000> banking<00:01:25.000> gains<00:01:25.390> IOT 00:01:26.039 --> 00:01:26.049 align:start position:0% accounting systems banking gains IOT 00:01:26.049 --> 00:01:29.340 align:start position:0% accounting systems banking gains IOT contracts<00:01:26.679> and<00:01:26.920> so<00:01:27.490> on<00:01:27.579> so<00:01:27.759> forth<00:01:28.030> and<00:01:28.350> this 00:01:29.340 --> 00:01:29.350 align:start position:0% contracts and so on so forth and this 00:01:29.350 --> 00:01:31.020 align:start position:0% contracts and so on so forth and this stage<00:01:29.649> of<00:01:29.859> this<00:01:29.979> class<00:01:30.219> I<00:01:30.399> would<00:01:30.460> say<00:01:30.729> is 00:01:31.020 --> 00:01:31.030 align:start position:0% stage of this class I would say is 00:01:31.030 --> 00:01:33.510 align:start position:0% stage of this class I would say is roughly<00:01:31.390> the<00:01:31.630> prototype<00:01:32.020> stage<00:01:32.280> in<00:01:33.280> third 00:01:33.510 --> 00:01:33.520 align:start position:0% roughly the prototype stage in third 00:01:33.520 --> 00:01:34.950 align:start position:0% roughly the prototype stage in third class<00:01:33.670> which<00:01:33.969> is<00:01:34.210> also<00:01:34.390> the<00:01:34.539> class<00:01:34.749> that<00:01:34.869> I 00:01:34.950 --> 00:01:34.960 align:start position:0% class which is also the class that I 00:01:34.960 --> 00:01:38.190 align:start position:0% class which is also the class that I will<00:01:35.109> focus<00:01:35.829> on<00:01:36.039> today<00:01:36.189> is<00:01:36.780> dealing<00:01:37.780> with<00:01:37.990> the 00:01:38.190 --> 00:01:38.200 align:start position:0% will focus on today is dealing with the 00:01:38.200 --> 00:01:40.020 align:start position:0% will focus on today is dealing with the emergent<00:01:38.770> and<00:01:38.890> subjective<00:01:39.460> value<00:01:39.640> system 00:01:40.020 --> 00:01:40.030 align:start position:0% emergent and subjective value system 00:01:40.030 --> 00:01:42.090 align:start position:0% emergent and subjective value system such<00:01:40.630> a<00:01:40.659> value<00:01:40.899> system<00:01:40.990> that<00:01:41.170> human<00:01:41.649> the 00:01:42.090 --> 00:01:42.100 align:start position:0% such a value system that human the 00:01:42.100 --> 00:01:44.340 align:start position:0% such a value system that human the people<00:01:42.399> define<00:01:42.729> the<00:01:43.539> G's<00:01:43.719> to<00:01:43.840> feel<00:01:43.990> it<00:01:44.079> it 00:01:44.340 --> 00:01:44.350 align:start position:0% people define the G's to feel it it 00:01:44.350 --> 00:01:46.499 align:start position:0% people define the G's to feel it it allows<00:01:44.710> you<00:01:44.859> to<00:01:44.890> basically<00:01:45.520> engage<00:01:46.119> with 00:01:46.499 --> 00:01:46.509 align:start position:0% allows you to basically engage with 00:01:46.509 --> 00:01:48.870 align:start position:0% allows you to basically engage with collective<00:01:47.020> intelligence<00:01:47.200> and<00:01:47.799> really<00:01:48.640> hear 00:01:48.870 --> 00:01:48.880 align:start position:0% collective intelligence and really hear 00:01:48.880 --> 00:01:51.059 align:start position:0% collective intelligence and really hear you<00:01:48.909> decentralize<00:01:49.450> the<00:01:49.479> governance<00:01:50.069> itself 00:01:51.059 --> 00:01:51.069 align:start position:0% you decentralize the governance itself 00:01:51.069 --> 00:01:53.340 align:start position:0% you decentralize the governance itself so<00:01:52.060> examples<00:01:52.689> would<00:01:52.719> be<00:01:52.810> the<00:01:53.020> centrist 00:01:53.340 --> 00:01:53.350 align:start position:0% so examples would be the centrist 00:01:53.350 --> 00:01:55.889 align:start position:0% so examples would be the centrist collaboration<00:01:54.039> curation<00:01:54.999> of<00:01:55.060> content<00:01:55.299> or 00:01:55.889 --> 00:01:55.899 align:start position:0% collaboration curation of content or 00:01:55.899 --> 00:01:58.410 align:start position:0% collaboration curation of content or even<00:01:55.960> curation<00:01:56.920> of<00:01:56.979> physical<00:01:57.340> objects<00:01:57.850> such 00:01:58.410 --> 00:01:58.420 align:start position:0% even curation of physical objects such 00:01:58.420 --> 00:02:01.050 align:start position:0% even curation of physical objects such as<00:01:58.450> restaurants<00:01:59.429> decentralized<00:02:00.429> insurance<00:02:00.850> a 00:02:01.050 --> 00:02:01.060 align:start position:0% as restaurants decentralized insurance a 00:02:01.060 --> 00:02:03.359 align:start position:0% as restaurants decentralized insurance a networked<00:02:01.630> p2p<00:02:02.079> insurance<00:02:02.530> the<00:02:03.069> central 00:02:03.359 --> 00:02:03.369 align:start position:0% networked p2p insurance the central 00:02:03.369 --> 00:02:05.730 align:start position:0% networked p2p insurance the central investment<00:02:03.880> funds<00:02:04.119> and<00:02:04.420> so<00:02:04.899> on<00:02:05.020> so<00:02:05.259> as<00:02:05.469> long<00:02:05.619> as 00:02:05.730 --> 00:02:05.740 align:start position:0% investment funds and so on so as long as 00:02:05.740 --> 00:02:07.950 align:start position:0% investment funds and so on so as long as you<00:02:05.859> want<00:02:06.039> objective<00:02:06.759> accounting<00:02:07.569> system 00:02:07.950 --> 00:02:07.960 align:start position:0% you want objective accounting system 00:02:07.960 --> 00:02:09.900 align:start position:0% you want objective accounting system blockchain<00:02:08.380> is<00:02:08.440> just<00:02:08.649> fine<00:02:08.890> if<00:02:09.190> you<00:02:09.640> want<00:02:09.819> in 00:02:09.900 --> 00:02:09.910 align:start position:0% blockchain is just fine if you want in 00:02:09.910 --> 00:02:11.370 align:start position:0% blockchain is just fine if you want in the<00:02:09.970> central<00:02:10.270> insurance<00:02:10.450> system<00:02:11.020> with<00:02:11.200> it 00:02:11.370 --> 00:02:11.380 align:start position:0% the central insurance system with it 00:02:11.380 --> 00:02:13.590 align:start position:0% the central insurance system with it with<00:02:11.770> a<00:02:11.850> subjective<00:02:12.850> assessment<00:02:12.910> of<00:02:13.330> claims 00:02:13.590 --> 00:02:13.600 align:start position:0% with a subjective assessment of claims 00:02:13.600 --> 00:02:16.170 align:start position:0% with a subjective assessment of claims for<00:02:13.840> example<00:02:14.260> you<00:02:14.709> need<00:02:14.830> also<00:02:15.010> this<00:02:15.880> kind<00:02:16.090> of 00:02:16.170 --> 00:02:16.180 align:start position:0% for example you need also this kind of 00:02:16.180 --> 00:02:17.790 align:start position:0% for example you need also this kind of collective<00:02:16.420> intelligence<00:02:16.630> protocol<00:02:17.319> or<00:02:17.500> the 00:02:17.790 --> 00:02:17.800 align:start position:0% collective intelligence protocol or the 00:02:17.800 --> 00:02:19.650 align:start position:0% collective intelligence protocol or the central<00:02:18.220> governance<00:02:18.610> and<00:02:18.819> this<00:02:19.209> this<00:02:19.450> class 00:02:19.650 --> 00:02:19.660 align:start position:0% central governance and this this class 00:02:19.660 --> 00:02:21.390 align:start position:0% central governance and this this class is<00:02:19.870> totally<00:02:20.230> in<00:02:20.319> a<00:02:20.410> instill<00:02:20.890> in<00:02:20.980> the<00:02:21.069> research 00:02:21.390 --> 00:02:21.400 align:start position:0% is totally in a instill in the research 00:02:21.400 --> 00:02:22.430 align:start position:0% is totally in a instill in the research stage 00:02:22.430 --> 00:02:22.440 align:start position:0% stage 00:02:22.440 --> 00:02:24.900 align:start position:0% stage so<00:02:23.440> let<00:02:23.560> me<00:02:23.620> let<00:02:23.890> me<00:02:23.980> dive<00:02:24.220> into<00:02:24.430> the<00:02:24.580> back<00:02:24.730> it 00:02:24.900 --> 00:02:24.910 align:start position:0% so let me let me dive into the back it 00:02:24.910 --> 00:02:27.780 align:start position:0% so let me let me dive into the back it really<00:02:25.210> really<00:02:25.660> quick<00:02:25.930> a<00:02:26.200> high<00:02:26.980> level 00:02:27.780 --> 00:02:27.790 align:start position:0% really really quick a high level 00:02:27.790 --> 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position:0% won't get into it much but this is it's 00:02:42.310 --> 00:02:44.599 align:start position:0% won't get into it much but this is it's kind<00:02:42.519> of<00:02:42.579> a<00:02:42.640> decentralized<00:02:42.879> social<00:02:43.530> network 00:02:44.599 --> 00:02:44.609 align:start position:0% kind of a decentralized social network 00:02:44.609 --> 00:02:47.940 align:start position:0% kind of a decentralized social network algorithm<00:02:45.609> and<00:02:45.849> then<00:02:46.359> the<00:02:46.659> the<00:02:47.109> main<00:02:47.319> the<00:02:47.769> main 00:02:47.940 --> 00:02:47.950 align:start position:0% algorithm and then the the main the main 00:02:47.950 --> 00:02:49.589 align:start position:0% algorithm and then the the main the main layer<00:02:48.189> is<00:02:48.310> the<00:02:48.459> objective<00:02:48.730> there<00:02:49.030> which<00:02:49.480> is 00:02:49.589 --> 00:02:49.599 align:start position:0% layer is the objective there which is 00:02:49.599 --> 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in<00:02:56.799> the<00:02:56.859> decentralized<00:02:57.129> network<00:02:57.750> and 00:02:58.740 --> 00:02:58.750 align:start position:0% agents in the decentralized network and 00:02:58.750 --> 00:03:00.390 align:start position:0% agents in the decentralized network and then<00:02:58.900> of<00:02:59.019> course<00:02:59.200> the<00:02:59.290> curation<00:02:59.769> of<00:02:59.829> objects 00:03:00.390 --> 00:03:00.400 align:start position:0% then of course the curation of objects 00:03:00.400 --> 00:03:02.759 align:start position:0% then of course the curation of objects through<00:03:00.760> the<00:03:00.909> value<00:03:01.870> system<00:03:02.170> of<00:03:02.200> that<00:03:02.379> network 00:03:02.759 --> 00:03:02.769 align:start position:0% through the value system of that network 00:03:02.769 --> 00:03:04.800 align:start position:0% through the value system of that network and<00:03:03.010> then<00:03:03.430> the<00:03:03.549> inter<00:03:03.730> objective<00:03:04.150> layer<00:03:04.359> is 00:03:04.800 --> 00:03:04.810 align:start position:0% and then the inter objective layer is 00:03:04.810 --> 00:03:06.809 align:start position:0% and then the inter objective layer is about<00:03:05.349> basically<00:03:05.919> the<00:03:06.010> relationship<00:03:06.669> between 00:03:06.809 --> 00:03:06.819 align:start position:0% about basically the relationship between 00:03:06.819 --> 00:03:08.569 align:start position:0% about basically the relationship between various<00:03:07.299> networks 00:03:08.569 --> 00:03:08.579 align:start position:0% various networks 00:03:08.579 --> 00:03:11.429 align:start position:0% various networks so<00:03:09.579> in<00:03:09.760> the<00:03:09.819> following<00:03:10.090> I<00:03:10.209> will<00:03:10.239> consider<00:03:10.689> the 00:03:11.429 --> 00:03:11.439 align:start position:0% so in the following I will consider the 00:03:11.439 --> 00:03:12.869 align:start position:0% so in the following I will consider the case<00:03:11.650> of<00:03:11.799> the<00:03:11.889> central<00:03:12.099> corporation<00:03:12.700> but 00:03:12.869 --> 00:03:12.879 align:start position:0% case of the central corporation but 00:03:12.879 --> 00:03:14.940 align:start position:0% case of the central corporation but basically<00:03:13.720> much<00:03:13.989> of<00:03:14.139> what<00:03:14.319> I<00:03:14.349> will<00:03:14.439> say<00:03:14.739> will 00:03:14.940 --> 00:03:14.950 align:start position:0% basically much of what I will say will 00:03:14.950 --> 00:03:16.970 align:start position:0% basically much of what I will say will hold<00:03:15.189> for<00:03:15.400> the<00:03:15.459> other<00:03:15.609> use<00:03:15.790> case<00:03:16.000> as<00:03:16.120> well 00:03:16.970 --> 00:03:16.980 align:start position:0% hold for the other use case as well 00:03:16.980 --> 00:03:19.920 align:start position:0% hold for the other use case as well so<00:03:17.980> ok<00:03:18.370> so<00:03:18.400> that's<00:03:18.639> just<00:03:18.849> imagine<00:03:19.209> network<00:03:19.599> the 00:03:19.920 --> 00:03:19.930 align:start position:0% so ok so that's just imagine network the 00:03:19.930 --> 00:03:21.960 align:start position:0% so ok so that's just imagine network the the<00:03:20.230> balls<00:03:20.470> are<00:03:20.739> our<00:03:21.099> agents<00:03:21.459> with<00:03:21.609> private 00:03:21.960 --> 00:03:21.970 align:start position:0% the balls are our agents with private 00:03:21.970 --> 00:03:23.970 align:start position:0% the balls are our agents with private keys<00:03:22.180> the<00:03:22.750> circles<00:03:23.169> are<00:03:23.290> agent<00:03:23.680> without 00:03:23.970 --> 00:03:23.980 align:start position:0% keys the circles are agent without 00:03:23.980 --> 00:03:25.679 align:start position:0% keys the circles are agent without private<00:03:24.370> keys<00:03:24.549> basically<00:03:24.970> smart<00:03:25.239> contracts 00:03:25.679 --> 00:03:25.689 align:start position:0% private keys basically smart contracts 00:03:25.689 --> 00:03:28.550 align:start position:0% private keys basically smart contracts or<00:03:25.870> if<00:03:25.959> you<00:03:26.049> want<00:03:26.280> decentralized<00:03:27.280> networks 00:03:28.550 --> 00:03:28.560 align:start position:0% or if you want decentralized networks 00:03:28.560 --> 00:03:31.440 align:start position:0% or if you want decentralized networks and<00:03:29.560> all<00:03:30.159> of<00:03:30.250> them<00:03:30.400> are<00:03:30.430> agents<00:03:31.030> of<00:03:31.120> the 00:03:31.440 --> 00:03:31.450 align:start position:0% and all of them are agents of the 00:03:31.450 --> 00:03:33.449 align:start position:0% and all of them are agents of the centralized<00:03:31.900> network<00:03:32.199> number<00:03:32.590> one<00:03:32.799> so<00:03:33.310> this 00:03:33.449 --> 00:03:33.459 align:start position:0% centralized network number one so this 00:03:33.459 --> 00:03:35.909 align:start position:0% centralized network number one so this is<00:03:33.579> the<00:03:33.669> worldview<00:03:34.090> as<00:03:34.299> seen<00:03:34.629> by<00:03:35.260> a<00:03:35.560> network 00:03:35.909 --> 00:03:35.919 align:start position:0% is the worldview as seen by a network 00:03:35.919 --> 00:03:37.890 align:start position:0% is the worldview as seen by a network number<00:03:36.190> one<00:03:36.489> we'll<00:03:37.090> get<00:03:37.269> back<00:03:37.449> to<00:03:37.599> that<00:03:37.690> later 00:03:37.890 --> 00:03:37.900 align:start position:0% number one we'll get back to that later 00:03:37.900 --> 00:03:40.110 align:start position:0% number one we'll get back to that later so<00:03:38.739> the<00:03:38.889> objective<00:03:39.310> lair<00:03:39.459> basically<00:03:39.879> or<00:03:40.000> the 00:03:40.110 --> 00:03:40.120 align:start position:0% so the objective lair basically or the 00:03:40.120 --> 00:03:42.360 align:start position:0% so the objective lair basically or the intra<00:03:40.780> network<00:03:41.319> dynamics<00:03:41.500> looks<00:03:42.159> something 00:03:42.360 --> 00:03:42.370 align:start position:0% intra network dynamics looks something 00:03:42.370 --> 00:03:46.319 align:start position:0% intra network dynamics looks something like<00:03:42.519> that<00:03:42.909> so<00:03:43.690> anyone<00:03:44.609> let's<00:03:45.609> see<00:03:45.790> yeah 00:03:46.319 --> 00:03:46.329 align:start position:0% like that so anyone let's see yeah 00:03:46.329 --> 00:03:49.050 align:start position:0% like that so anyone let's see yeah anyone<00:03:46.989> can<00:03:47.049> post<00:03:47.379> a<00:03:47.680> contribution<00:03:48.609> for 00:03:49.050 --> 00:03:49.060 align:start position:0% anyone can post a contribution for 00:03:49.060 --> 00:03:52.020 align:start position:0% anyone can post a contribution for example<00:03:49.449> you<00:03:49.989> can<00:03:50.229> post<00:03:51.159> to<00:03:51.310> the<00:03:51.400> network<00:03:51.790> a 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every agent in the network 00:04:00.069 --> 00:04:02.610 align:start position:0% then every every agent in the network any<00:04:00.250> agent<00:04:00.579> in<00:04:00.669> the<00:04:00.729> network<00:04:01.030> can<00:04:01.060> post<00:04:01.870> his 00:04:02.610 --> 00:04:02.620 align:start position:0% any agent in the network can post his 00:04:02.620 --> 00:04:04.439 align:start position:0% any agent in the network can post his evaluation<00:04:03.340> of<00:04:03.430> that<00:04:03.609> contribution<00:04:03.940> what<00:04:04.329> is 00:04:04.439 --> 00:04:04.449 align:start position:0% evaluation of that contribution what is 00:04:04.449 --> 00:04:06.240 align:start position:0% evaluation of that contribution what is the<00:04:04.569> value<00:04:04.900> of<00:04:04.959> that<00:04:05.079> contribution<00:04:05.409> the 00:04:06.240 --> 00:04:06.250 align:start position:0% the value of that contribution the 00:04:06.250 --> 00:04:09.330 align:start position:0% the value of that contribution the subjective<00:04:06.790> value<00:04:07.379> you<00:04:08.379> say<00:04:08.560> different<00:04:08.769> agent 00:04:09.330 --> 00:04:09.340 align:start position:0% subjective value you say different agent 00:04:09.340 --> 00:04:10.679 align:start position:0% subjective value you say different agent may<00:04:09.459> have<00:04:09.639> different<00:04:09.970> irritation<00:04:10.479> in<00:04:10.569> that 00:04:10.679 --> 00:04:10.689 align:start position:0% may have different irritation in that 00:04:10.689 --> 00:04:13.140 align:start position:0% may have different irritation in that network<00:04:11.079> and<00:04:11.290> they<00:04:11.560> also<00:04:11.709> can<00:04:12.669> have<00:04:12.849> different 00:04:13.140 --> 00:04:13.150 align:start position:0% network and they also can have different 00:04:13.150 --> 00:04:15.899 align:start position:0% network and they also can have different assessments<00:04:13.750> at<00:04:14.349> some<00:04:14.889> point<00:04:15.159> when<00:04:15.549> you<00:04:15.639> when 00:04:15.899 --> 00:04:15.909 align:start position:0% assessments at some point when you when 00:04:15.909 --> 00:04:18.029 align:start position:0% assessments at some point when you when you<00:04:15.970> get<00:04:16.120> a<00:04:16.150> majority<00:04:16.299> threshold<00:04:17.109> the<00:04:17.560> network 00:04:18.029 --> 00:04:18.039 align:start position:0% you get a majority threshold the network 00:04:18.039 --> 00:04:21.719 align:start position:0% you get a majority threshold the network will<00:04:18.549> now<00:04:18.930> issue<00:04:19.930> new<00:04:20.680> tokens<00:04:21.220> and<00:04:21.310> reputation 00:04:21.719 --> 00:04:21.729 align:start position:0% will now issue new tokens and reputation 00:04:21.729 --> 00:04:23.339 align:start position:0% will now issue new tokens and reputation score<00:04:21.849> and<00:04:22.270> allocate<00:04:22.960> them<00:04:23.110> to<00:04:23.260> the 00:04:23.339 --> 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repeating reputational weighted 00:04:34.090 --> 00:04:36.659 align:start position:0% about a repeating reputational weighted voting<00:04:34.330> system<00:04:34.870> for<00:04:35.080> the<00:04:35.800> location<00:04:36.190> of<00:04:36.279> tokens 00:04:36.659 --> 00:04:36.669 align:start position:0% voting system for the location of tokens 00:04:36.669 --> 00:04:39.700 align:start position:0% voting system for the location of tokens and<00:04:36.760> mutation<00:04:37.500> per<00:04:38.500> contribution<00:04:39.130> to<00:04:39.370> the 00:04:39.700 --> 00:04:39.710 align:start position:0% and mutation per contribution to the 00:04:39.710 --> 00:04:40.590 align:start position:0% and mutation per contribution to the yeutter 00:04:40.590 --> 00:04:40.600 align:start position:0% yeutter 00:04:40.600 --> 00:04:42.790 align:start position:0% yeutter basically<00:04:41.600> the<00:04:41.690> outcome<00:04:42.170> of<00:04:42.200> the<00:04:42.410> voting<00:04:42.710> is 00:04:42.790 --> 00:04:42.800 align:start position:0% basically the outcome of the voting is 00:04:42.800 --> 00:04:45.660 align:start position:0% basically the outcome of the voting is the<00:04:42.830> median<00:04:43.340> that's<00:04:44.240> pretty<00:04:44.600> important<00:04:45.050> and 00:04:45.660 --> 00:04:45.670 align:start position:0% the median that's pretty important and 00:04:45.670 --> 00:04:48.070 align:start position:0% the median that's pretty important and one<00:04:46.670> consequence<00:04:47.150> of<00:04:47.330> that<00:04:47.360> is<00:04:47.660> that<00:04:47.810> you<00:04:47.930> only 00:04:48.070 --> 00:04:48.080 align:start position:0% one consequence of that is that you only 00:04:48.080 --> 00:04:50.650 align:start position:0% one consequence of that is that you only get<00:04:48.380> issuance<00:04:48.830> of<00:04:48.920> token<00:04:49.340> once<00:04:49.910> you<00:04:50.150> reach<00:04:50.360> a 00:04:50.650 --> 00:04:50.660 align:start position:0% get issuance of token once you reach a 00:04:50.660 --> 00:04:53.200 align:start position:0% get issuance of token once you reach a majority<00:04:51.380> threshold<00:04:52.100> we'll<00:04:52.700> talk<00:04:52.880> about<00:04:53.000> that 00:04:53.200 --> 00:04:53.210 align:start position:0% majority threshold we'll talk about that 00:04:53.210 --> 00:04:55.360 align:start position:0% majority threshold we'll talk about that later<00:04:53.270> and<00:04:54.140> then<00:04:54.470> most<00:04:54.710> importantly<00:04:55.130> there<00:04:55.280> is 00:04:55.360 --> 00:04:55.370 align:start position:0% later and then most importantly there is 00:04:55.370 --> 00:04:57.280 align:start position:0% later and then most importantly there is also<00:04:55.520> reputation<00:04:56.210> will<00:04:56.330> flow<00:04:56.570> from 00:04:57.280 --> 00:04:57.290 align:start position:0% also reputation will flow from 00:04:57.290 --> 00:04:59.230 align:start position:0% also reputation will flow from non-voters<00:04:57.920> later<00:04:58.280> borders<00:04:58.640> and<00:04:58.850> misaligned 00:04:59.230 --> 00:04:59.240 align:start position:0% non-voters later borders and misaligned 00:04:59.240 --> 00:05:02.110 align:start position:0% non-voters later borders and misaligned borders<00:04:59.570> into<00:05:00.020> early<00:05:00.590> aligned<00:05:01.190> borders<00:05:01.580> that 00:05:02.110 --> 00:05:02.120 align:start position:0% borders into early aligned borders that 00:05:02.120 --> 00:05:04.330 align:start position:0% borders into early aligned borders that basically<00:05:02.480> create<00:05:02.810> the<00:05:03.020> the<00:05:03.320> the<00:05:03.980> backfield 00:05:04.330 --> 00:05:04.340 align:start position:0% basically create the the the backfield 00:05:04.340 --> 00:05:07.540 align:start position:0% basically create the the the backfield loop<00:05:04.960> which<00:05:05.960> means<00:05:06.230> that<00:05:06.410> the<00:05:06.680> the<00:05:07.010> majority 00:05:07.540 --> 00:05:07.550 align:start position:0% loop which means that the the majority 00:05:07.550 --> 00:05:09.430 align:start position:0% loop which means that the the majority the<00:05:07.640> majority<00:05:08.030> is<00:05:08.450> that<00:05:08.630> is<00:05:08.810> a<00:05:08.840> systematic 00:05:09.430 --> 00:05:09.440 align:start position:0% the majority is that is a systematic 00:05:09.440 --> 00:05:12.490 align:start position:0% the majority is that is a systematic align<00:05:09.740> is<00:05:10.640> its<00:05:11.210> reputation<00:05:11.510> is<00:05:11.840> increasing 00:05:12.490 --> 00:05:12.500 align:start position:0% align is its reputation is increasing 00:05:12.500 --> 00:05:16.200 align:start position:0% align is its reputation is increasing and<00:05:12.650> increasing<00:05:12.770> and<00:05:13.370> that<00:05:13.460> creates 00:05:16.200 --> 00:05:16.210 align:start position:0% and increasing and that creates 00:05:16.210 --> 00:05:19.240 align:start position:0% and increasing and that creates that's<00:05:17.210> basic<00:05:17.780> create<00:05:18.050> growing<00:05:18.530> alignment<00:05:19.160> in 00:05:19.240 --> 00:05:19.250 align:start position:0% that's basic create growing alignment in 00:05:19.250 --> 00:05:21.190 align:start position:0% that's basic create growing alignment in the<00:05:19.310> network<00:05:19.640> but<00:05:20.180> also<00:05:20.210> growing<00:05:20.690> incentive 00:05:21.190 --> 00:05:21.200 align:start position:0% the network but also growing incentive 00:05:21.200 --> 00:05:22.620 align:start position:0% the network but also growing incentive to<00:05:21.320> fork<00:05:21.560> the<00:05:21.650> network 00:05:22.620 --> 00:05:22.630 align:start position:0% to fork the network 00:05:22.630 --> 00:05:25.240 align:start position:0% to fork the network that<00:05:23.630> anyone<00:05:24.110> can<00:05:24.350> do<00:05:24.470> in<00:05:24.800> a<00:05:24.920> click<00:05:25.100> of<00:05:25.190> a 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align:start position:0% existence of multiple value systems so<00:05:34.640> this<00:05:34.850> is<00:05:35.000> the<00:05:35.210> view<00:05:35.480> the<00:05:35.690> world<00:05:36.200> view<00:05:36.470> of 00:05:36.550 --> 00:05:36.560 align:start position:0% so this is the view the world view of 00:05:36.560 --> 00:05:38.770 align:start position:0% so this is the view the world view of network<00:05:36.860> one<00:05:37.070> so<00:05:37.880> now<00:05:38.000> maybe<00:05:38.210> this<00:05:38.480> is<00:05:38.660> the 00:05:38.770 --> 00:05:38.780 align:start position:0% network one so now maybe this is the 00:05:38.780 --> 00:05:40.840 align:start position:0% network one so now maybe this is the world<00:05:38.990> view<00:05:39.200> of<00:05:39.230> network<00:05:39.650> two<00:05:39.860> you<00:05:40.520> can<00:05:40.700> as<00:05:40.820> you 00:05:40.840 --> 00:05:40.850 align:start position:0% world view of network two you can as you 00:05:40.850 --> 00:05:43.330 align:start position:0% world view of network two you can as you can<00:05:41.060> see<00:05:41.270> different<00:05:42.200> agents<00:05:42.800> sorry<00:05:43.160> the 00:05:43.330 --> 00:05:43.340 align:start position:0% can see different agents sorry the 00:05:43.340 --> 00:05:44.830 align:start position:0% can see different agents sorry the agents<00:05:43.790> in<00:05:43.880> different<00:05:44.150> networks<00:05:44.240> may<00:05:44.630> have 00:05:44.830 --> 00:05:44.840 align:start position:0% agents in different networks may have 00:05:44.840 --> 00:05:46.630 align:start position:0% agents in different networks may have different<00:05:45.200> reputations<00:05:45.770> according<00:05:46.460> to<00:05:46.520> the 00:05:46.630 --> 00:05:46.640 align:start position:0% different reputations according to the 00:05:46.640 --> 00:05:48.210 align:start position:0% different reputations according to the network<00:05:46.760> and 00:05:48.210 --> 00:05:48.220 align:start position:0% network and 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so<00:05:57.080> that<00:05:57.350> the<00:05:57.530> outcome<00:05:57.890> is<00:05:57.920> multiple 00:05:58.360 --> 00:05:58.370 align:start position:0% networks so that the outcome is multiple 00:05:58.370 --> 00:06:00.220 align:start position:0% networks so that the outcome is multiple value<00:05:58.640> systems<00:05:59.060> that<00:05:59.150> they<00:05:59.360> can<00:05:59.510> have<00:05:59.750> various 00:06:00.220 --> 00:06:00.230 align:start position:0% value systems that they can have various 00:06:00.230 --> 00:06:02.080 align:start position:0% value systems that they can have various relationships<00:06:00.830> they<00:06:01.280> can<00:06:01.430> be<00:06:01.520> complementary 00:06:02.080 --> 00:06:02.090 align:start position:0% relationships they can be complementary 00:06:02.090 --> 00:06:04.000 align:start position:0% relationships they can be complementary competing<00:06:02.990> or<00:06:03.200> mother-daughter 00:06:04.000 --> 00:06:04.010 align:start position:0% competing or mother-daughter 00:06:04.010 --> 00:06:06.070 align:start position:0% competing or mother-daughter relationships<00:06:04.610> or<00:06:04.850> any<00:06:05.450> combination<00:06:06.020> of 00:06:06.070 --> 00:06:06.080 align:start position:0% relationships or any combination of 00:06:06.080 --> 00:06:08.860 align:start position:0% relationships or any combination of those<00:06:06.730> and<00:06:07.730> then<00:06:07.910> the<00:06:08.060> match<00:06:08.630> of<00:06:08.840> that 00:06:08.860 --> 00:06:08.870 align:start position:0% those and then the match of that 00:06:08.870 --> 00:06:10.870 align:start position:0% those and then the match of that protocol<00:06:09.470> is<00:06:09.530> about<00:06:09.860> defining<00:06:10.220> the<00:06:10.460> network 00:06:10.870 --> 00:06:10.880 align:start position:0% protocol is about defining the network 00:06:10.880 --> 00:06:12.700 align:start position:0% protocol is about defining the network as<00:06:11.060> an<00:06:11.150> agent<00:06:11.450> in<00:06:11.540> other<00:06:11.720> networks<00:06:11.900> which 00:06:12.700 --> 00:06:12.710 align:start position:0% as an agent in other networks which 00:06:12.710 --> 00:06:14.500 align:start position:0% as an agent in other networks which means<00:06:13.010> how<00:06:13.280> to<00:06:13.310> take<00:06:13.580> the<00:06:13.730> aggregation<00:06:14.180> of 00:06:14.500 --> 00:06:14.510 align:start position:0% means how to take the aggregation of 00:06:14.510 --> 00:06:15.880 align:start position:0% means how to take the aggregation of internal<00:06:14.930> contribution<00:06:15.470> within<00:06:15.770> the 00:06:15.880 --> 00:06:15.890 align:start position:0% internal contribution within the 00:06:15.890 --> 00:06:18.460 align:start position:0% internal contribution within the networks<00:06:16.630> and<00:06:17.630> triggering<00:06:18.140> with<00:06:18.260> them 00:06:18.460 --> 00:06:18.470 align:start position:0% networks and triggering with them 00:06:18.470 --> 00:06:20.200 align:start position:0% networks and triggering with them training<00:06:18.890> the<00:06:19.040> external<00:06:19.730> contribution 00:06:20.200 --> 00:06:20.210 align:start position:0% training the external contribution 00:06:20.210 --> 00:06:21.940 align:start position:0% training the external contribution evaluation<00:06:20.720> of<00:06:20.900> the<00:06:21.050> network<00:06:21.380> in<00:06:21.710> other 00:06:21.940 --> 00:06:21.950 align:start position:0% evaluation of the network in other 00:06:21.950 --> 00:06:24.220 align:start position:0% evaluation of the network in other networks<00:06:22.600> so<00:06:23.600> that<00:06:23.630> that<00:06:23.870> part<00:06:24.080> of<00:06:24.140> the 00:06:24.220 --> 00:06:24.230 align:start position:0% networks so that that part of the 00:06:24.230 --> 00:06:26.260 align:start position:0% networks so that that part of the protocol<00:06:24.590> and<00:06:24.830> the<00:06:25.400> outcome<00:06:25.730> is<00:06:25.850> the<00:06:25.880> federal 00:06:26.260 --> 00:06:26.270 align:start position:0% protocol and the outcome is the federal 00:06:26.270 --> 00:06:27.420 align:start position:0% protocol and the outcome is the federal governance 00:06:27.420 --> 00:06:27.430 align:start position:0% governance 00:06:27.430 --> 00:06:30.940 align:start position:0% governance network<00:06:28.430> or<00:06:29.200> federal<00:06:30.200> governance<00:06:30.470> structure 00:06:30.940 --> 00:06:30.950 align:start position:0% network or federal governance structure 00:06:30.950 --> 00:06:32.590 align:start position:0% network or federal governance structure as<00:06:31.130> well<00:06:31.640> as<00:06:31.730> economic<00:06:32.090> relationship<00:06:32.570> between 00:06:32.590 --> 00:06:32.600 align:start position:0% as well as economic relationship between 00:06:32.600 --> 00:06:34.600 align:start position:0% as well as economic relationship between networks<00:06:33.260> and<00:06:33.530> in<00:06:33.950> terms<00:06:34.160> of<00:06:34.310> token 00:06:34.600 --> 00:06:34.610 align:start position:0% networks and in terms of token 00:06:34.610 --> 00:06:37.240 align:start position:0% networks and in terms of token Redemption<00:06:35.440> so<00:06:36.440> if<00:06:36.560> that<00:06:36.740> was<00:06:36.950> the<00:06:37.040> dynamic 00:06:37.240 --> 00:06:37.250 align:start position:0% Redemption so if that was the dynamic 00:06:37.250 --> 00:06:39.910 align:start position:0% Redemption so if that was the dynamic the<00:06:37.880> intra<00:06:38.210> network<00:06:38.570> dynamic<00:06:39.110> the 00:06:39.910 --> 00:06:39.920 align:start position:0% the intra network dynamic the 00:06:39.920 --> 00:06:41.320 align:start position:0% the intra network dynamic the internetwork<00:06:40.640> dynamic<00:06:41.000> looks<00:06:41.180> like 00:06:41.320 --> 00:06:41.330 align:start position:0% internetwork dynamic looks like 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evaluation<00:06:49.760> to<00:06:49.910> a<00:06:49.940> larger<00:06:50.510> network<00:06:50.900> but 00:06:51.880 --> 00:06:51.890 align:start position:0% the evaluation to a larger network but 00:06:51.890 --> 00:06:53.629 align:start position:0% the evaluation to a larger network but now<00:06:52.010> remember<00:06:52.160> that<00:06:52.430> the<00:06:52.640> agents<00:06:53.120> in 00:06:53.629 --> 00:06:53.639 align:start position:0% now remember that the agents in 00:06:53.639 --> 00:06:57.110 align:start position:0% now remember that the agents in internally<00:06:54.150> can<00:06:54.300> also<00:06:54.449> may<00:06:55.409> also<00:06:55.650> be<00:06:56.120> having 00:06:57.110 --> 00:06:57.120 align:start position:0% internally can also may also be having 00:06:57.120 --> 00:06:58.850 align:start position:0% internally can also may also be having reputation<00:06:57.689> in<00:06:57.810> the<00:06:57.900> external<00:06:58.169> Network<00:06:58.590> and 00:06:58.850 --> 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look<00:07:05.099> like<00:07:05.279> that 00:07:05.420 --> 00:07:05.430 align:start position:0% simplest case may look like that 00:07:05.430 --> 00:07:07.700 align:start position:0% simplest case may look like that something<00:07:05.699> like<00:07:05.819> that<00:07:06.120> and<00:07:06.449> in<00:07:07.080> more<00:07:07.289> general 00:07:07.700 --> 00:07:07.710 align:start position:0% something like that and in more general 00:07:07.710 --> 00:07:11.950 align:start position:0% something like that and in more general case<00:07:08.189> it<00:07:08.610> can<00:07:08.789> also<00:07:08.909> be<00:07:09.120> more<00:07:09.270> complex 00:07:11.950 --> 00:07:11.960 align:start position:0% 00:07:11.960 --> 00:07:16.100 align:start position:0% so<00:07:12.960> that<00:07:13.409> brings<00:07:14.219> me<00:07:14.370> to<00:07:14.400> the<00:07:14.870> problem<00:07:15.870> of<00:07:15.930> in 00:07:16.100 --> 00:07:16.110 align:start position:0% so that brings me to the problem of in 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the<00:07:23.669> governance<00:07:24.419> scalability<00:07:24.870> problem 00:07:25.219 --> 00:07:25.229 align:start position:0% well the governance scalability problem 00:07:25.229 --> 00:07:27.909 align:start position:0% well the governance scalability problem is<00:07:25.319> that<00:07:25.529> it's<00:07:26.009> in<00:07:26.550> order<00:07:26.819> to<00:07:26.939> remain 00:07:27.909 --> 00:07:27.919 align:start position:0% is that it's in order to remain 00:07:27.919 --> 00:07:30.230 align:start position:0% is that it's in order to remain resilience<00:07:28.919> you<00:07:29.099> need<00:07:29.250> to<00:07:29.340> have<00:07:29.550> majority 00:07:30.230 --> 00:07:30.240 align:start position:0% resilience you need to have majority 00:07:30.240 --> 00:07:32.119 align:start position:0% resilience you need to have majority threshold<00:07:30.870> for<00:07:31.020> each<00:07:31.199> decision<00:07:31.590> to<00:07:31.949> make 00:07:32.119 --> 00:07:32.129 align:start position:0% threshold for each decision to make 00:07:32.129 --> 00:07:34.519 align:start position:0% threshold for each decision to make which<00:07:32.669> is<00:07:32.699> which<00:07:33.120> is<00:07:33.150> not<00:07:33.389> very<00:07:33.599> functional<00:07:34.080> so 00:07:34.519 --> 00:07:34.529 align:start position:0% which is which is not very functional so 00:07:34.529 --> 00:07:37.580 align:start position:0% which is which is not very functional so for<00:07:34.680> example<00:07:34.949> here<00:07:35.129> the<00:07:35.250> 45<00:07:36.319> agents<00:07:37.319> below 00:07:37.580 --> 00:07:37.590 align:start position:0% for example here the 45 agents below 00:07:37.590 --> 00:07:39.170 align:start position:0% for example here the 45 agents below let's<00:07:37.830> assume<00:07:38.039> they<00:07:38.159> have<00:07:38.340> equal<00:07:38.490> reputation 00:07:39.170 --> 00:07:39.180 align:start position:0% let's assume they have equal reputation 00:07:39.180 --> 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position:0% agree about any decision but with this network<00:07:46.500> topology<00:07:47.159> you<00:07:47.550> can<00:07:47.729> reach<00:07:47.879> the 00:07:48.019 --> 00:07:48.029 align:start position:0% network topology you can reach the 00:07:48.029 --> 00:07:50.899 align:start position:0% network topology you can reach the station<00:07:48.240> with<00:07:48.539> only<00:07:48.810> 12<00:07:49.310> agents<00:07:50.310> attending 00:07:50.899 --> 00:07:50.909 align:start position:0% station with only 12 agents attending 00:07:50.909 --> 00:07:52.939 align:start position:0% station with only 12 agents attending every<00:07:51.089> decision<00:07:51.479> so<00:07:52.289> that's<00:07:52.469> crucial<00:07:52.800> but 00:07:52.939 --> 00:07:52.949 align:start position:0% every decision so that's crucial but 00:07:52.949 --> 00:07:55.339 align:start position:0% every decision so that's crucial but since<00:07:53.219> not<00:07:53.430> not<00:07:53.849> every<00:07:54.360> not<00:07:54.749> any<00:07:54.990> 12 00:07:55.339 --> 00:07:55.349 align:start position:0% since not not every not any 12 00:07:55.349 --> 00:07:57.170 align:start position:0% since not not every not any 12 configuration<00:07:56.069> 12<00:07:56.400> people<00:07:56.610> configuration 00:07:57.170 --> 00:07:57.180 align:start position:0% configuration 12 people configuration 00:07:57.180 --> 00:07:59.240 align:start position:0% configuration 12 people configuration work<00:07:57.409> for<00:07:58.409> that<00:07:58.469> reason<00:07:58.800> you<00:07:58.830> can<00:07:59.069> show<00:07:59.219> that 00:07:59.240 --> 00:07:59.250 align:start position:0% work for that reason you can show that 00:07:59.250 --> 00:08:04.240 align:start position:0% work for that reason you can show that resilience<00:07:59.849> is<00:07:59.909> actually<00:08:00.270> kept<00:08:00.479> the<00:08:01.349> same 00:08:04.240 --> 00:08:04.250 align:start position:0% 00:08:04.250 --> 00:08:06.649 align:start position:0% ok<00:08:05.250> so<00:08:05.310> solving<00:08:05.909> the<00:08:06.029> governance<00:08:06.360> occurs<00:08:06.539> in 00:08:06.649 --> 00:08:06.659 align:start position:0% ok so solving the governance occurs in 00:08:06.659 --> 00:08:08.689 align:start position:0% ok so solving the governance occurs in progress<00:08:06.900> made<00:08:07.289> by<00:08:07.319> semi<00:08:08.099> compositional 00:08:08.689 --> 00:08:08.699 align:start position:0% progress made by semi compositional 00:08:08.699 --> 00:08:11.119 align:start position:0% progress made by semi compositional network<00:08:08.969> topology<00:08:09.479> as<00:08:09.659> well<00:08:10.199> as<00:08:10.319> added<00:08:10.979> with 00:08:11.119 --> 00:08:11.129 align:start position:0% network topology as well as added with 00:08:11.129 --> 00:08:12.980 align:start position:0% network topology as well as added with delegated<00:08:11.610> voting<00:08:11.879> system<00:08:12.240> and<00:08:12.449> also 00:08:12.980 --> 00:08:12.990 align:start position:0% delegated voting system and also 00:08:12.990 --> 00:08:15.760 align:start position:0% delegated voting system and also non-voters<00:08:13.620> leaking<00:08:13.979> reputation 00:08:15.760 --> 00:08:15.770 align:start position:0% non-voters leaking reputation 00:08:15.770 --> 00:08:18.019 align:start position:0% non-voters leaking reputation okay<00:08:16.770> I'll<00:08:16.860> just<00:08:17.009> keep<00:08:17.250> a<00:08:17.310> subjective<00:08:17.759> area 00:08:18.019 --> 00:08:18.029 align:start position:0% okay I'll just keep a subjective area 00:08:18.029 --> 00:08:19.309 align:start position:0% okay I'll just keep a subjective area again<00:08:18.240> just<00:08:18.270> beautiful<00:08:18.870> flow<00:08:19.080> of<00:08:19.139> information 00:08:19.309 --> 00:08:19.319 align:start position:0% again just beautiful flow of information 00:08:19.319 --> 00:08:22.689 align:start position:0% again just beautiful flow of information it<00:08:20.219> basically<00:08:20.669> based<00:08:21.449> on<00:08:21.659> trust<00:08:22.110> scores 00:08:22.689 --> 00:08:22.699 align:start position:0% it basically based on trust scores 00:08:22.699 --> 00:08:25.730 align:start position:0% it basically based on trust scores reputations<00:08:23.699> and<00:08:23.849> endorsements<00:08:24.560> and<00:08:25.560> let<00:08:25.649> me 00:08:25.730 --> 00:08:25.740 align:start position:0% reputations and endorsements and let me 00:08:25.740 --> 00:08:28.480 align:start position:0% reputations and endorsements and let me quickly<00:08:25.979> just<00:08:26.399> if<00:08:26.879> I<00:08:27.060> have<00:08:27.240> some<00:08:27.479> time<00:08:27.689> left 00:08:28.480 --> 00:08:28.490 align:start position:0% quickly just if I have some time left 00:08:28.490 --> 00:08:30.829 align:start position:0% quickly just if I have some time left yeah<00:08:29.490> let<00:08:29.669> me<00:08:29.759> quickly<00:08:30.000> just<00:08:30.120> discuss<00:08:30.629> the 00:08:30.829 --> 00:08:30.839 align:start position:0% yeah let me quickly just discuss the 00:08:30.839 --> 00:08:33.079 align:start position:0% yeah let me quickly just discuss the block<00:08:31.020> to<00:08:31.139> implementation<00:08:31.560> which<00:08:31.919> is<00:08:32.070> a<00:08:32.339> based 00:08:33.079 --> 00:08:33.089 align:start position:0% block to implementation which is a based 00:08:33.089 --> 00:08:37.040 align:start position:0% block to implementation which is a based on<00:08:33.240> a<00:08:33.539> novel<00:08:34.260> architecture<00:08:35.159> so<00:08:35.699> the<00:08:35.909> idea<00:08:36.300> the 00:08:37.040 --> 00:08:37.050 align:start position:0% on a novel architecture so the idea the 00:08:37.050 --> 00:08:39.709 align:start position:0% on a novel architecture so the idea the question<00:08:37.589> was<00:08:37.709> how<00:08:37.949> to<00:08:37.979> implement<00:08:38.510> all<00:08:39.510> this 00:08:39.709 --> 00:08:39.719 align:start position:0% question was how to implement all this 00:08:39.719 --> 00:08:41.089 align:start position:0% question was how to implement all this protocol<00:08:40.169> on<00:08:40.229> the<00:08:40.320> blockchain<00:08:40.529> in<00:08:40.740> a<00:08:40.800> scalable 00:08:41.089 --> 00:08:41.099 align:start position:0% protocol on the blockchain in a scalable 00:08:41.099 --> 00:08:43.060 align:start position:0% protocol on the blockchain in a scalable way 00:08:43.060 --> 00:08:43.070 align:start position:0% way 00:08:43.070 --> 00:08:46.340 align:start position:0% way so<00:08:44.070> the<00:08:44.880> point<00:08:45.089> is<00:08:45.180> that<00:08:45.240> the<00:08:45.600> blockchain<00:08:45.839> only 00:08:46.340 --> 00:08:46.350 align:start position:0% so the point is that the blockchain only 00:08:46.350 --> 00:08:49.550 align:start position:0% so the point is that the blockchain only have<00:08:46.920> a<00:08:46.949> I<00:08:47.550> would<00:08:48.029> call<00:08:48.240> box<00:08:48.510> a<00:08:48.600> minimalism<00:08:48.990> the 00:08:49.550 --> 00:08:49.560 align:start position:0% have a I would call box a minimalism the 00:08:49.560 --> 00:08:51.230 align:start position:0% have a I would call box a minimalism the smart<00:08:49.860> content<00:08:50.160> blockchain<00:08:50.579> is<00:08:50.640> also<00:08:50.970> very 00:08:51.230 --> 00:08:51.240 align:start position:0% smart content blockchain is also very 00:08:51.240 --> 00:08:53.780 align:start position:0% smart content blockchain is also very very<00:08:51.360> simple<00:08:51.779> smart<00:08:52.410> contract<00:08:52.890> which<00:08:53.760> is 00:08:53.780 --> 00:08:53.790 align:start position:0% very simple smart contract which is 00:08:53.790 --> 00:08:55.100 align:start position:0% very simple smart contract which is basically<00:08:54.149> a<00:08:54.269> reputation<00:08:54.570> weighted 00:08:55.100 --> 00:08:55.110 align:start position:0% basically a reputation weighted 00:08:55.110 --> 00:08:56.810 align:start position:0% basically a reputation weighted multi-state<00:08:55.620> contract<00:08:56.040> to<00:08:56.160> change<00:08:56.399> the<00:08:56.550> state 00:08:56.810 --> 00:08:56.820 align:start position:0% multi-state contract to change the state 00:08:56.820 --> 00:08:59.120 align:start position:0% multi-state contract to change the state the<00:08:57.390> state<00:08:57.750> on<00:08:58.140> the<00:08:58.290> blockchain<00:08:58.529> is<00:08:58.709> just<00:08:59.040> the 00:08:59.120 --> 00:08:59.130 align:start position:0% the state on the blockchain is just the 00:08:59.130 --> 00:09:00.620 align:start position:0% the state on the blockchain is just the reputation<00:08:59.339> token<00:08:59.970> balances<00:09:00.420> and 00:09:00.620 --> 00:09:00.630 align:start position:0% reputation token balances and 00:09:00.630 --> 00:09:03.740 align:start position:0% reputation token balances and established<00:09:01.350> the<00:09:01.649> established<00:09:02.069> votes<00:09:02.750> and 00:09:03.740 --> 00:09:03.750 align:start position:0% established the established votes and 00:09:03.750 --> 00:09:04.850 align:start position:0% established the established votes and then<00:09:03.899> there<00:09:04.019> is<00:09:04.110> also<00:09:04.230> the<00:09:04.380> state<00:09:04.620> change 00:09:04.850 --> 00:09:04.860 align:start position:0% then there is also the state change 00:09:04.860 --> 00:09:07.190 align:start position:0% then there is also the state change protocol<00:09:05.279> or<00:09:05.430> the<00:09:05.640> of<00:09:05.850> the<00:09:05.940> protocol<00:09:06.330> and<00:09:06.810> then 00:09:07.190 --> 00:09:07.200 align:start position:0% protocol or the of the protocol and then 00:09:07.200 --> 00:09:09.610 align:start position:0% protocol or the of the protocol and then the<00:09:07.350> rest<00:09:07.560> all<00:09:07.800> the<00:09:07.920> messages<00:09:08.430> between<00:09:09.210> people 00:09:09.610 --> 00:09:09.620 align:start position:0% the rest all the messages between people 00:09:09.620 --> 00:09:12.200 align:start position:0% the rest all the messages between people the<00:09:10.620> the<00:09:10.860> signing<00:09:11.490> of<00:09:11.580> masse<00:09:11.850> of 00:09:12.200 --> 00:09:12.210 align:start position:0% the the signing of masse of 00:09:12.210 --> 00:09:14.690 align:start position:0% the the signing of masse of contributions<00:09:12.960> and<00:09:13.140> evaluations<00:09:13.770> as<00:09:14.040> well<00:09:14.340> as 00:09:14.690 --> 00:09:14.700 align:start position:0% contributions and evaluations as well as 00:09:14.700 --> 00:09:16.010 align:start position:0% contributions and evaluations as well as the<00:09:14.790> calculation<00:09:15.180> of<00:09:15.330> the<00:09:15.480> protocol<00:09:15.780> itself 00:09:16.010 --> 00:09:16.020 align:start position:0% the calculation of the protocol itself 00:09:16.020 --> 00:09:20.660 align:start position:0% the calculation of the protocol itself is<00:09:16.440> all<00:09:16.910> export<00:09:18.290> beyond<00:09:19.290> the<00:09:19.440> change<00:09:20.310> so<00:09:20.520> off 00:09:20.660 --> 00:09:20.670 align:start position:0% is all export beyond the change so off 00:09:20.670 --> 00:09:21.970 align:start position:0% is all export beyond the change so off chain 00:09:21.970 --> 00:09:21.980 align:start position:0% chain 00:09:21.980 --> 00:09:24.220 align:start position:0% chain so<00:09:22.980> how<00:09:23.130> it<00:09:23.250> looks<00:09:23.430> like<00:09:23.610> something<00:09:23.850> like<00:09:23.910> that 00:09:24.220 --> 00:09:24.230 align:start position:0% so how it looks like something like that 00:09:24.230 --> 00:09:26.240 align:start position:0% so how it looks like something like that someone<00:09:25.230> is<00:09:25.350> stunning<00:09:25.590> contribution<00:09:26.130> is 00:09:26.240 --> 00:09:26.250 align:start position:0% someone is stunning contribution is 00:09:26.250 --> 00:09:28.520 align:start position:0% someone is stunning contribution is posting<00:09:26.670> into<00:09:27.180> the<00:09:27.300> network<00:09:27.660> someone<00:09:28.260> else<00:09:28.410> is 00:09:28.520 --> 00:09:28.530 align:start position:0% posting into the network someone else is 00:09:28.530 --> 00:09:31.430 align:start position:0% posting into the network someone else is a<00:09:28.860> posting<00:09:29.700> evaluation<00:09:30.270> like<00:09:30.990> that<00:09:31.230> they 00:09:31.430 --> 00:09:31.440 align:start position:0% a posting evaluation like that they 00:09:31.440 --> 00:09:33.920 align:start position:0% a posting evaluation like that they reach<00:09:31.620> the<00:09:31.770> majority<00:09:32.280> at<00:09:33.180> that<00:09:33.390> point<00:09:33.630> he<00:09:33.750> has 00:09:33.920 --> 00:09:33.930 align:start position:0% reach the majority at that point he has 00:09:33.930 --> 00:09:36.650 align:start position:0% reach the majority at that point he has a<00:09:33.960> package<00:09:34.380> roughly<00:09:35.280> look<00:09:35.880> like<00:09:36.060> that<00:09:36.270> and 00:09:36.650 --> 00:09:36.660 align:start position:0% a package roughly look like that and 00:09:36.660 --> 00:09:39.200 align:start position:0% a package roughly look like that and then<00:09:36.720> it<00:09:37.710> only<00:09:37.950> then<00:09:38.280> is<00:09:38.430> posting<00:09:38.880> the<00:09:38.970> state 00:09:39.200 --> 00:09:39.210 align:start position:0% then it only then is posting the state 00:09:39.210 --> 00:09:40.970 align:start position:0% then it only then is posting the state change<00:09:39.510> claim<00:09:39.930> proposition<00:09:40.710> into<00:09:40.920> the 00:09:40.970 --> 00:09:40.980 align:start position:0% change claim proposition into the 00:09:40.980 --> 00:09:43.490 align:start position:0% change claim proposition into the blockchain<00:09:41.160> and<00:09:41.700> then<00:09:42.360> all<00:09:42.660> the<00:09:43.080> reputable 00:09:43.490 --> 00:09:43.500 align:start position:0% blockchain and then all the reputable 00:09:43.500 --> 00:09:45.200 align:start position:0% blockchain and then all the reputable agents<00:09:43.890> are<00:09:43.980> being<00:09:44.190> called<00:09:44.460> to<00:09:44.730> calculate 00:09:45.200 --> 00:09:45.210 align:start position:0% agents are being called to calculate 00:09:45.210 --> 00:09:47.180 align:start position:0% agents are being called to calculate locally<00:09:45.750> under<00:09:45.870> the<00:09:46.080> machine<00:09:46.440> the<00:09:46.920> state 00:09:47.180 --> 00:09:47.190 align:start position:0% locally under the machine the state 00:09:47.190 --> 00:09:49.490 align:start position:0% locally under the machine the state change<00:09:47.520> according<00:09:48.330> to<00:09:48.360> the<00:09:48.450> protocol<00:09:48.930> and<00:09:49.140> if 00:09:49.490 --> 00:09:49.500 align:start position:0% change according to the protocol and if 00:09:49.500 --> 00:09:51.530 align:start position:0% change according to the protocol and if they<00:09:49.650> agree<00:09:49.770> with<00:09:50.100> that<00:09:50.310> to<00:09:50.760> sign<00:09:51.030> that<00:09:51.270> a 00:09:51.530 --> 00:09:51.540 align:start position:0% they agree with that to sign that a 00:09:51.540 --> 00:09:55.520 align:start position:0% they agree with that to sign that a state<00:09:52.020> change<00:09:52.490> so<00:09:53.490> let<00:09:53.610> me<00:09:53.670> just<00:09:53.850> end<00:09:54.120> with<00:09:54.530> a 00:09:55.520 --> 00:09:55.530 align:start position:0% state change so let me just end with a 00:09:55.530 --> 00:09:59.360 align:start position:0% state change so let me just end with a few<00:09:56.250> few<00:09:56.930> shanks<00:09:57.930> um<00:09:58.050> some<00:09:58.320> timeline<00:09:58.770> so 00:09:59.360 --> 00:09:59.370 align:start position:0% few few shanks um some timeline so 00:09:59.370 --> 00:10:01.490 align:start position:0% few few shanks um some timeline so firstly<00:09:59.730> let<00:10:00.510> me<00:10:00.540> tell<00:10:00.720> you<00:10:00.810> that<00:10:00.990> back<00:10:01.260> feed 00:10:01.490 --> 00:10:01.500 align:start position:0% firstly let me tell you that back feed 00:10:01.500 --> 00:10:03.650 align:start position:0% firstly let me tell you that back feed goes<00:10:02.340> nonprofits<00:10:03.000> or<00:10:03.150> we<00:10:03.270> opening<00:10:03.570> a 00:10:03.650 --> 00:10:03.660 align:start position:0% goes nonprofits or we opening a 00:10:03.660 --> 00:10:05.180 align:start position:0% goes nonprofits or we opening a non-profit<00:10:04.110> foundation<00:10:04.230> to<00:10:04.770> continue<00:10:05.100> the 00:10:05.180 --> 00:10:05.190 align:start position:0% non-profit foundation to continue the 00:10:05.190 --> 00:10:08.210 align:start position:0% non-profit foundation to continue the research<00:10:05.310> and<00:10:05.670> development<00:10:05.700> of<00:10:06.300> the<00:10:07.290> protocol 00:10:08.210 --> 00:10:08.220 align:start position:0% research and development of the protocol 00:10:08.220 --> 00:10:10.700 align:start position:0% research and development of the protocol stack<00:10:08.340> for<00:10:08.610> the<00:10:08.670> centralization<00:10:09.200> in<00:10:10.200> the<00:10:10.380> 19 00:10:10.700 --> 00:10:10.710 align:start position:0% stack for the centralization in the 19 00:10:10.710 --> 00:10:12.800 align:start position:0% stack for the centralization in the 19 to<00:10:10.800> 23<00:10:11.070> of<00:10:11.280> October<00:10:11.400> there<00:10:12.300> is<00:10:12.390> a<00:10:12.420> protocol 00:10:12.800 --> 00:10:12.810 align:start position:0% to 23 of October there is a protocol 00:10:12.810 --> 00:10:15.050 align:start position:0% to 23 of October there is a protocol workshop<00:10:13.230> if<00:10:13.380> anyone<00:10:13.740> is<00:10:13.830> interested<00:10:13.980> in<00:10:14.580> that 00:10:15.050 --> 00:10:15.060 align:start position:0% workshop if anyone is interested in that 00:10:15.060 --> 00:10:16.780 align:start position:0% workshop if anyone is interested in that domain<00:10:15.360> please<00:10:15.690> just<00:10:15.930> email<00:10:16.110> me 00:10:16.780 --> 00:10:16.790 align:start position:0% domain please just email me 00:10:16.790 --> 00:10:19.610 align:start position:0% domain please just email me and<00:10:17.790> you<00:10:17.880> can<00:10:18.030> participate<00:10:18.150> and<00:10:18.840> then<00:10:19.380> we<00:10:19.560> are 00:10:19.610 --> 00:10:19.620 align:start position:0% and you can participate and then we are 00:10:19.620 --> 00:10:22.280 align:start position:0% and you can participate and then we are expecting<00:10:20.520> until<00:10:20.790> the<00:10:20.940> end<00:10:21.060> of<00:10:21.150> the<00:10:21.300> year<00:10:21.750> to 00:10:22.280 --> 00:10:22.290 align:start position:0% expecting until the end of the year to 00:10:22.290 --> 00:10:23.900 align:start position:0% expecting until the end of the year to complete<00:10:22.620> the<00:10:22.740> protocol<00:10:23.070> specification<00:10:23.670> and 00:10:23.900 --> 00:10:23.910 align:start position:0% complete the protocol specification and 00:10:23.910 --> 00:10:25.940 align:start position:0% complete the protocol specification and then<00:10:24.150> three<00:10:24.930> months<00:10:25.050> later<00:10:25.200> to<00:10:25.560> release<00:10:25.800> an 00:10:25.940 --> 00:10:25.950 align:start position:0% then three months later to release an 00:10:25.950 --> 00:10:27.620 align:start position:0% then three months later to release an alpha<00:10:26.190> stage<00:10:26.370> life<00:10:26.580> central<00:10:27.180> organization 00:10:27.620 --> 00:10:27.630 align:start position:0% alpha stage life central organization 00:10:27.630 --> 00:10:33.540 align:start position:0% alpha stage life central organization thank<00:10:28.050> you<00:10:28.310> thank<00:10:29.310> you<00:10:29.400> very<00:10:29.700> much<00:10:30.000> thank<00:10:30.960> you 00:10:33.540 --> 00:10:33.550 align:start position:0% 00:10:33.550 --> 00:10:40.909 align:start position:0% [Music]