WEBVTT Kind: captions Language: en 00:00:04.540 --> 00:00:07.829 align:start position:0% my<00:00:05.439> name<00:00:05.589> is<00:00:05.799> Kevin<00:00:06.309> walky<00:00:06.580> I<00:00:06.939> am<00:00:07.330> one<00:00:07.629> of<00:00:07.660> the 00:00:07.829 --> 00:00:07.839 align:start position:0% my name is Kevin walky I am one of the 00:00:07.839 --> 00:00:11.129 align:start position:0% my name is Kevin walky I am one of the cofounders<00:00:08.019> of<00:00:08.760> get<00:00:09.760> coin<00:00:09.969> which<00:00:10.570> is<00:00:10.750> made 00:00:11.129 --> 00:00:11.139 align:start position:0% cofounders of get coin which is made 00:00:11.139 --> 00:00:14.580 align:start position:0% cofounders of get coin which is made possible<00:00:11.709> by<00:00:12.039> consensus<00:00:12.939> and<00:00:13.240> a<00:00:14.109> community 00:00:14.580 --> 00:00:14.590 align:start position:0% possible by consensus and a community 00:00:14.590 --> 00:00:17.340 align:start position:0% possible by consensus and a community member<00:00:14.680> out<00:00:15.160> of<00:00:15.549> Boulder<00:00:16.150> Colorado<00:00:16.449> Oh<00:00:16.990> she'll 00:00:17.340 --> 00:00:17.350 align:start position:0% member out of Boulder Colorado Oh she'll 00:00:17.350 --> 00:00:21.300 align:start position:0% member out of Boulder Colorado Oh she'll Colorado<00:00:18.869> the<00:00:19.869> talk<00:00:20.080> that<00:00:20.320> I<00:00:20.349> pitched<00:00:20.710> at<00:00:21.100> Def 00:00:21.300 --> 00:00:21.310 align:start position:0% Colorado the talk that I pitched at Def 00:00:21.310 --> 00:00:24.630 align:start position:0% Colorado the talk that I pitched at Def Con<00:00:21.340> is<00:00:21.850> entitled<00:00:22.480> the<00:00:22.900> future<00:00:23.250> history<00:00:24.250> of 00:00:24.630 --> 00:00:24.640 align:start position:0% Con is entitled the future history of 00:00:24.640 --> 00:00:29.640 align:start position:0% Con is entitled the future history of the<00:00:25.390> open<00:00:25.840> Internet<00:00:26.260> and<00:00:27.060> I<00:00:28.500> think<00:00:29.500> I've<00:00:29.560> given 00:00:29.640 --> 00:00:29.650 align:start position:0% the open Internet and I think I've given 00:00:29.650 --> 00:00:31.830 align:start position:0% the open Internet and I think I've given a<00:00:29.830> lot<00:00:29.860> of<00:00:29.980> talks<00:00:30.160> about<00:00:30.550> dev<00:00:30.850> relations<00:00:31.539> and 00:00:31.830 --> 00:00:31.840 align:start position:0% a lot of talks about dev relations and 00:00:31.840 --> 00:00:33.540 align:start position:0% a lot of talks about dev relations and building<00:00:32.109> open-source<00:00:32.559> communities<00:00:33.070> this<00:00:33.370> is 00:00:33.540 --> 00:00:33.550 align:start position:0% building open-source communities this is 00:00:33.550 --> 00:00:37.349 align:start position:0% building open-source communities this is by<00:00:34.210> and<00:00:34.420> large<00:00:34.510> the<00:00:34.809> most<00:00:35.399> abstract<00:00:36.399> talk<00:00:36.879> that 00:00:37.349 --> 00:00:37.359 align:start position:0% by and large the most abstract talk that 00:00:37.359 --> 00:00:40.200 align:start position:0% by and large the most abstract talk that I've<00:00:37.479> ever<00:00:37.690> that<00:00:38.260> I've<00:00:38.379> ever<00:00:38.559> given<00:00:38.969> and<00:00:39.969> I 00:00:40.200 --> 00:00:40.210 align:start position:0% I've ever that I've ever given and I 00:00:40.210 --> 00:00:42.540 align:start position:0% I've ever that I've ever given and I think<00:00:40.420> that<00:00:40.600> for<00:00:40.870> that<00:00:40.899> reason<00:00:41.350> it's<00:00:41.920> one 00:00:42.540 --> 00:00:42.550 align:start position:0% think that for that reason it's one 00:00:42.550 --> 00:00:44.009 align:start position:0% think that for that reason it's one that's<00:00:42.760> a<00:00:42.879> little<00:00:43.030> bit<00:00:43.269> outside<00:00:43.479> of<00:00:43.749> my 00:00:44.009 --> 00:00:44.019 align:start position:0% that's a little bit outside of my 00:00:44.019 --> 00:00:45.719 align:start position:0% that's a little bit outside of my comfort<00:00:44.289> zone<00:00:44.620> because<00:00:44.859> as<00:00:45.190> a<00:00:45.219> software 00:00:45.719 --> 00:00:45.729 align:start position:0% comfort zone because as a software 00:00:45.729 --> 00:00:49.229 align:start position:0% comfort zone because as a software engineer<00:00:46.229> really<00:00:47.229> like<00:00:47.409> to<00:00:47.559> focus<00:00:47.769> on<00:00:48.280> being 00:00:49.229 --> 00:00:49.239 align:start position:0% engineer really like to focus on being 00:00:49.239 --> 00:00:51.660 align:start position:0% engineer really like to focus on being pragmatic<00:00:50.019> and<00:00:50.289> on<00:00:50.559> things<00:00:50.889> that<00:00:51.129> are 00:00:51.660 --> 00:00:51.670 align:start position:0% pragmatic and on things that are 00:00:51.670 --> 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align:start position:0% what the future history of the open Internet<00:00:59.289> is<00:00:59.469> going<00:00:59.649> to<00:00:59.920> be<00:01:00.100> but<00:01:00.819> I<00:01:01.030> do<00:01:01.239> feel 00:01:01.770 --> 00:01:01.780 align:start position:0% Internet is going to be but I do feel 00:01:01.780 --> 00:01:04.410 align:start position:0% Internet is going to be but I do feel strongly<00:01:02.619> as<00:01:03.069> a<00:01:03.129> community<00:01:03.639> member<00:01:03.789> as<00:01:04.210> an 00:01:04.410 --> 00:01:04.420 align:start position:0% strongly as a community member as an 00:01:04.420 --> 00:01:07.260 align:start position:0% strongly as a community member as an etherion<00:01:04.930> and<00:01:05.199> as<00:01:05.619> a<00:01:05.650> father<00:01:06.070> and<00:01:06.430> as<00:01:06.940> a<00:01:06.970> member 00:01:07.260 --> 00:01:07.270 align:start position:0% etherion and as a father and as a member 00:01:07.270 --> 00:01:09.900 align:start position:0% etherion and as a father and as a member of<00:01:07.299> the<00:01:07.540> Colorado<00:01:07.990> scene<00:01:08.470> that<00:01:09.130> this<00:01:09.490> is<00:01:09.640> the 00:01:09.900 --> 00:01:09.910 align:start position:0% of the Colorado scene that this is the 00:01:09.910 --> 00:01:12.360 align:start position:0% of the Colorado scene that this is the one<00:01:10.510> of<00:01:10.630> the<00:01:10.720> most<00:01:10.900> important<00:01:11.530> talks<00:01:12.040> that<00:01:12.340> I 00:01:12.360 --> 00:01:12.370 align:start position:0% one of the most important talks that I 00:01:12.370 --> 00:01:15.840 align:start position:0% one of the most important talks that I could<00:01:12.640> be<00:01:12.760> giving<00:01:12.910> at<00:01:13.950> Def<00:01:14.950> Con<00:01:14.980> this<00:01:15.340> year<00:01:15.400> and 00:01:15.840 --> 00:01:15.850 align:start position:0% could be giving at Def Con this year and 00:01:15.850 --> 00:01:17.520 align:start position:0% could be giving at Def Con this year and it's<00:01:16.180> because<00:01:16.420> I'm<00:01:16.570> increasingly<00:01:17.140> worried 00:01:17.520 --> 00:01:17.530 align:start position:0% it's because I'm increasingly worried 00:01:17.530 --> 00:01:20.400 align:start position:0% it's because I'm increasingly worried about<00:01:17.710> the<00:01:17.920> direction<00:01:18.280> of<00:01:18.640> of<00:01:18.880> the<00:01:19.420> world<00:01:19.630> at<00:01:20.230> a 00:01:20.400 --> 00:01:20.410 align:start position:0% about the direction of of the world at a 00:01:20.410 --> 00:01:22.470 align:start position:0% about the direction of of the world at a time<00:01:20.740> in<00:01:21.130> which<00:01:21.430> you<00:01:21.700> could<00:01:21.850> argue<00:01:22.240> that<00:01:22.270> our 00:01:22.470 --> 00:01:22.480 align:start position:0% time in which you could argue that our 00:01:22.480 --> 00:01:24.840 align:start position:0% time in which you could argue that our Industrial<00:01:23.260> Age<00:01:23.350> institutions<00:01:24.340> are 00:01:24.840 --> 00:01:24.850 align:start position:0% Industrial Age institutions are 00:01:24.850 --> 00:01:26.880 align:start position:0% Industrial Age institutions are crumbling<00:01:25.540> in<00:01:25.660> terms<00:01:25.900> of<00:01:26.080> credibility<00:01:26.440> and 00:01:26.880 --> 00:01:26.890 align:start position:0% crumbling in terms of credibility and 00:01:26.890 --> 00:01:28.710 align:start position:0% crumbling in terms of credibility and the<00:01:27.370> world<00:01:27.550> struggles<00:01:28.120> with<00:01:28.300> the<00:01:28.450> inability 00:01:28.710 --> 00:01:28.720 align:start position:0% the world struggles with the inability 00:01:28.720 --> 00:01:31.530 align:start position:0% the world struggles with the inability to<00:01:28.990> do<00:01:29.770> collective<00:01:30.280> sense<00:01:30.580> making<00:01:30.880> because<00:01:31.390> of 00:01:31.530 --> 00:01:31.540 align:start position:0% to do collective sense making because of 00:01:31.540 --> 00:01:33.870 align:start position:0% to do collective sense making because of fake<00:01:31.720> news<00:01:31.990> and<00:01:32.320> other<00:01:32.980> challenges<00:01:33.580> like 00:01:33.870 --> 00:01:33.880 align:start position:0% fake news and other challenges like 00:01:33.880 --> 00:01:37.260 align:start position:0% fake news and other challenges like climate<00:01:33.910> change<00:01:34.860> for<00:01:35.860> me<00:01:36.040> atheria<00:01:36.670> m--<00:01:36.730> is<00:01:37.000> a 00:01:37.260 --> 00:01:37.270 align:start position:0% climate change for me atheria m-- is a 00:01:37.270 --> 00:01:39.330 align:start position:0% climate change for me atheria m-- is a shelling<00:01:37.720> point<00:01:38.140> where<00:01:38.650> I<00:01:38.710> can<00:01:38.890> come<00:01:39.100> together 00:01:39.330 --> 00:01:39.340 align:start position:0% shelling point where I can come together 00:01:39.340 --> 00:01:41.430 align:start position:0% shelling point where I can come together with<00:01:40.060> other<00:01:40.090> people<00:01:40.690> who<00:01:40.840> have<00:01:40.990> hope<00:01:41.260> of 00:01:41.430 --> 00:01:41.440 align:start position:0% with other people who have hope of 00:01:41.440 --> 00:01:44.610 align:start position:0% with other people who have hope of building<00:01:42.160> a<00:01:42.340> new<00:01:43.090> world<00:01:43.330> and<00:01:43.900> new<00:01:44.170> systems 00:01:44.610 --> 00:01:44.620 align:start position:0% building a new world and new systems 00:01:44.620 --> 00:01:47.280 align:start position:0% building a new world and new systems that<00:01:44.890> are<00:01:45.280> not<00:01:45.450> subject<00:01:46.450> to<00:01:46.510> the<00:01:46.660> same<00:01:46.690> sort<00:01:47.200> of 00:01:47.280 --> 00:01:47.290 align:start position:0% that are not subject to the same sort of 00:01:47.290 --> 00:01:49.830 align:start position:0% that are not subject to the same sort of issues<00:01:47.890> and<00:01:48.190> so<00:01:48.790> I<00:01:48.820> think<00:01:48.940> that<00:01:49.150> it<00:01:49.600> would<00:01:49.720> be 00:01:49.830 --> 00:01:49.840 align:start position:0% issues and so I think that it would be 00:01:49.840 --> 00:01:52.649 align:start position:0% issues and so I think that it would be appropriate<00:01:49.930> for<00:01:50.409> me<00:01:50.680> to<00:01:51.190> talk<00:01:51.700> for<00:01:52.390> it<00:01:52.510> to 00:01:52.649 --> 00:01:52.659 align:start position:0% appropriate for me to talk for it to 00:01:52.659 --> 00:01:54.570 align:start position:0% appropriate for me to talk for it to start<00:01:52.930> my<00:01:53.050> talk<00:01:53.320> about<00:01:53.560> the<00:01:53.890> future<00:01:54.220> history 00:01:54.570 --> 00:01:54.580 align:start position:0% start my talk about the future history 00:01:54.580 --> 00:01:57.270 align:start position:0% start my talk about the future history of<00:01:54.820> the<00:01:55.000> open<00:01:55.270> Internet<00:01:55.659> with<00:01:56.440> talking<00:01:57.070> about 00:01:57.270 --> 00:01:57.280 align:start position:0% of the open Internet with talking about 00:01:57.280 --> 00:01:59.610 align:start position:0% of the open Internet with talking about the<00:01:57.909> present<00:01:58.300> history<00:01:58.630> of<00:01:58.870> the<00:01:59.020> open<00:01:59.290> Internet 00:01:59.610 --> 00:01:59.620 align:start position:0% the present history of the open Internet 00:01:59.620 --> 00:02:03.630 align:start position:0% the present history of the open Internet and<00:02:00.210> I<00:02:01.210> and<00:02:01.960> I<00:02:02.290> think<00:02:02.350> that<00:02:02.740> for<00:02:03.250> me<00:02:03.370> you<00:02:03.520> that 00:02:03.630 --> 00:02:03.640 align:start position:0% and I and I think that for me you that 00:02:03.640 --> 00:02:07.020 align:start position:0% and I and I think that for me you that starts<00:02:04.000> in<00:02:04.150> 1985<00:02:05.050> with<00:02:05.590> Richard<00:02:06.250> Stallman<00:02:06.760> and 00:02:07.020 --> 00:02:07.030 align:start position:0% starts in 1985 with Richard Stallman and 00:02:07.030 --> 00:02:08.460 align:start position:0% starts in 1985 with Richard Stallman and the<00:02:07.479> founding<00:02:07.840> of<00:02:07.930> the<00:02:08.080> Free<00:02:08.259> Software 00:02:08.460 --> 00:02:08.470 align:start position:0% the founding of the Free Software 00:02:08.470 --> 00:02:10.740 align:start position:0% the founding of the Free Software Foundation<00:02:08.879> and<00:02:09.879> say<00:02:10.330> what<00:02:10.509> you<00:02:10.599> will<00:02:10.720> about 00:02:10.740 --> 00:02:10.750 align:start position:0% Foundation and say what you will about 00:02:10.750 --> 00:02:13.229 align:start position:0% Foundation and say what you will about Richard<00:02:11.290> Stallman's<00:02:11.709> politics<00:02:12.250> these<00:02:12.579> days<00:02:12.639> I 00:02:13.229 --> 00:02:13.239 align:start position:0% Richard Stallman's politics these days I 00:02:13.239 --> 00:02:15.239 align:start position:0% Richard Stallman's politics these days I believe<00:02:13.389> that<00:02:14.230> being<00:02:14.379> work<00:02:14.709> that<00:02:14.920> the<00:02:15.069> Free 00:02:15.239 --> 00:02:15.249 align:start position:0% believe that being work that the Free 00:02:15.249 --> 00:02:17.729 align:start position:0% believe that being work that the Free Software<00:02:15.430> Foundation<00:02:15.909> did<00:02:16.569> in<00:02:16.840> 1985<00:02:17.530> was 00:02:17.729 --> 00:02:17.739 align:start position:0% Software Foundation did in 1985 was 00:02:17.739 --> 00:02:18.270 align:start position:0% Software Foundation did in 1985 was really 00:02:18.270 --> 00:02:18.280 align:start position:0% really 00:02:18.280 --> 00:02:21.180 align:start position:0% really important<00:02:18.910> in<00:02:19.480> defining<00:02:20.470> a<00:02:20.620> category<00:02:21.070> of 00:02:21.180 --> 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align:start position:0% of this community was to advocate for 00:02:29.410 --> 00:02:31.440 align:start position:0% of this community was to advocate for software<00:02:30.070> which<00:02:30.730> would<00:02:30.910> give<00:02:31.090> you<00:02:31.180> the<00:02:31.330> right 00:02:31.440 --> 00:02:31.450 align:start position:0% software which would give you the right 00:02:31.450 --> 00:02:34.140 align:start position:0% software which would give you the right to<00:02:31.720> a<00:02:31.750> run<00:02:32.230> the<00:02:32.380> software<00:02:32.620> B<00:02:33.550> study<00:02:33.940> the 00:02:34.140 --> 00:02:34.150 align:start position:0% to a run the software B study the 00:02:34.150 --> 00:02:37.199 align:start position:0% to a run the software B study the software<00:02:34.660> and<00:02:34.990> make<00:02:35.140> changes<00:02:35.620> to<00:02:35.920> it<00:02:36.100> and<00:02:36.280> C<00:02:36.850> we 00:02:37.199 --> 00:02:37.209 align:start position:0% software and make changes to it and C we 00:02:37.209 --> 00:02:40.320 align:start position:0% software and make changes to it and C we redistribute<00:02:37.780> the<00:02:38.500> software<00:02:39.459> with<00:02:40.000> or 00:02:40.320 --> 00:02:40.330 align:start position:0% redistribute the software with or 00:02:40.330 --> 00:02:42.960 align:start position:0% redistribute the software with or without<00:02:40.480> changes<00:02:41.230> and<00:02:41.530> the<00:02:42.280> reason<00:02:42.730> why<00:02:42.910> this 00:02:42.960 --> 00:02:42.970 align:start position:0% without changes and the reason why this 00:02:42.970 --> 00:02:44.790 align:start position:0% without changes and the reason why this rule<00:02:43.390> set<00:02:43.630> was<00:02:43.840> important<00:02:44.350> to<00:02:44.500> Richard 00:02:44.790 --> 00:02:44.800 align:start position:0% rule set was important to Richard 00:02:44.800 --> 00:02:47.250 align:start position:0% rule set was important to Richard Stallman<00:02:45.340> was<00:02:45.910> that<00:02:46.810> in<00:02:46.930> a<00:02:46.990> world 00:02:47.250 --> 00:02:47.260 align:start position:0% Stallman was that in a world 00:02:47.260 --> 00:02:49.530 align:start position:0% Stallman was that in a world increasingly<00:02:47.880> intermediated<00:02:48.880> by<00:02:49.030> software 00:02:49.530 --> 00:02:49.540 align:start position:0% increasingly intermediated by software 00:02:49.540 --> 00:02:51.930 align:start position:0% increasingly intermediated by software the<00:02:49.990> decisions<00:02:50.560> that<00:02:51.010> we<00:02:51.190> make<00:02:51.400> could<00:02:51.820> be 00:02:51.930 --> 00:02:51.940 align:start position:0% the decisions that we make could be 00:02:51.940 --> 00:02:55.140 align:start position:0% the decisions that we make could be influenced<00:02:52.540> by<00:02:52.720> software<00:02:53.290> creators<00:02:53.650> and<00:02:54.190> so 00:02:55.140 --> 00:02:55.150 align:start position:0% influenced by software creators and so 00:02:55.150 --> 00:02:57.660 align:start position:0% influenced by software creators and so the<00:02:55.270> question<00:02:55.660> in<00:02:55.780> my<00:02:55.930> mind<00:02:55.959> is<00:02:56.560> always<00:02:57.459> is 00:02:57.660 --> 00:02:57.670 align:start position:0% the question in my mind is always is 00:02:57.670 --> 00:02:59.970 align:start position:0% the question in my mind is always is this<00:02:57.850> software<00:02:58.360> doing<00:02:58.570> the<00:02:58.900> the<00:02:59.440> right<00:02:59.650> thing 00:02:59.970 --> 00:02:59.980 align:start position:0% this software doing the the right thing 00:02:59.980 --> 00:03:02.610 align:start position:0% this software doing the the right thing for<00:03:00.310> me<00:03:00.580> as<00:03:00.820> the<00:03:01.300> end<00:03:01.450> user<00:03:01.540> does<00:03:02.050> it<00:03:02.140> have<00:03:02.290> my 00:03:02.610 --> 00:03:02.620 align:start position:0% for me as the end user does it have my 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it<00:03:12.370> in<00:03:12.640> mind<00:03:12.910> and<00:03:13.239> so<00:03:13.750> I 00:03:13.979 --> 00:03:13.989 align:start position:0% government behind it in mind and so I 00:03:13.989 --> 00:03:16.020 align:start position:0% government behind it in mind and so I think<00:03:14.110> that<00:03:14.320> Richards<00:03:14.770> work<00:03:14.980> in<00:03:15.310> advocating 00:03:16.020 --> 00:03:16.030 align:start position:0% think that Richards work in advocating 00:03:16.030 --> 00:03:18.930 align:start position:0% think that Richards work in advocating that<00:03:16.330> we<00:03:17.230> create<00:03:17.560> open-source<00:03:18.250> software<00:03:18.489> that 00:03:18.930 --> 00:03:18.940 align:start position:0% that we create open-source software that 00:03:18.940 --> 00:03:21.300 align:start position:0% that we create open-source software that we<00:03:19.000> curate<00:03:19.330> free<00:03:19.630> software<00:03:20.170> that<00:03:20.830> we<00:03:21.280> can 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align:start position:0% in the history of the open Internet I think<00:03:37.120> is<00:03:37.239> important<00:03:37.780> is<00:03:37.959> Linus<00:03:38.650> travels 00:03:39.060 --> 00:03:39.070 align:start position:0% think is important is Linus travels 00:03:39.070 --> 00:03:42.449 align:start position:0% think is important is Linus travels creating<00:03:39.700> Linux<00:03:40.120> the<00:03:40.780> Linux<00:03:41.049> kernel<00:03:41.260> in<00:03:41.560> 1991 00:03:42.449 --> 00:03:42.459 align:start position:0% creating Linux the Linux kernel in 1991 00:03:42.459 --> 00:03:45.720 align:start position:0% creating Linux the Linux kernel in 1991 Linux<00:03:43.450> went<00:03:43.660> on<00:03:43.750> to<00:03:44.019> compete<00:03:44.500> with<00:03:44.890> Microsoft 00:03:45.720 --> 00:03:45.730 align:start position:0% Linux went on to compete with Microsoft 00:03:45.730 --> 00:03:49.979 align:start position:0% Linux went on to compete with Microsoft for<00:03:46.530> the<00:03:47.530> backbone<00:03:48.280> the<00:03:49.180> the<00:03:49.600> sort<00:03:49.930> of 00:03:49.979 --> 00:03:49.989 align:start position:0% for the backbone the the sort of 00:03:49.989 --> 00:03:53.250 align:start position:0% for the backbone the the sort of infrastructure<00:03:50.470> of<00:03:51.060> the<00:03:52.060> the<00:03:52.810> Internet<00:03:53.140> in 00:03:53.250 --> 00:03:53.260 align:start position:0% infrastructure of the the Internet in 00:03:53.260 --> 00:03:55.520 align:start position:0% infrastructure of the the Internet in the<00:03:53.350> 90s<00:03:53.739> in<00:03:53.980> today<00:03:54.579> is<00:03:54.760> one<00:03:54.970> of<00:03:55.000> the<00:03:55.269> most 00:03:55.520 --> 00:03:55.530 align:start position:0% the 90s in today is one of the most 00:03:55.530 --> 00:03:58.890 align:start position:0% the 90s in today is one of the most popular<00:03:56.530> distributions<00:03:57.340> of<00:03:57.610> software<00:03:58.420> in<00:03:58.720> the 00:03:58.890 --> 00:03:58.900 align:start position:0% popular distributions of software in the 00:03:58.900 --> 00:04:01.259 align:start position:0% popular distributions of software in the world<00:03:59.079> today<00:03:59.530> and<00:03:59.799> it's<00:04:00.190> all<00:04:00.340> available<00:04:00.549> for 00:04:01.259 --> 00:04:01.269 align:start position:0% world today and it's all available for 00:04:01.269 --> 00:04:01.979 align:start position:0% world today and it's all available for free 00:04:01.979 --> 00:04:01.989 align:start position:0% free 00:04:01.989 --> 00:04:04.259 align:start position:0% free Linux<00:04:02.590> is<00:04:02.739> an<00:04:02.860> important<00:04:03.280> operating<00:04:03.850> system 00:04:04.259 --> 00:04:04.269 align:start position:0% Linux is an important operating system 00:04:04.269 --> 00:04:07.110 align:start position:0% Linux is an important operating system because<00:04:04.690> they<00:04:05.110> approved<00:04:05.620> that<00:04:06.220> open<00:04:06.880> source 00:04:07.110 --> 00:04:07.120 align:start position:0% because they approved that open source 00:04:07.120 --> 00:04:08.520 align:start position:0% because they approved that open source software<00:04:07.329> a<00:04:07.660> group<00:04:07.989> of<00:04:08.140> people<00:04:08.260> who<00:04:08.440> have 00:04:08.520 --> 00:04:08.530 align:start position:0% software a group of people who have 00:04:08.530 --> 00:04:10.020 align:start position:0% software a group of people who have never<00:04:08.650> met<00:04:08.950> each<00:04:08.980> other<00:04:09.310> could<00:04:09.579> create<00:04:09.820> a 00:04:10.020 --> 00:04:10.030 align:start position:0% never met each other could create a 00:04:10.030 --> 00:04:12.600 align:start position:0% never met each other could create a product<00:04:10.540> that<00:04:10.840> compete<00:04:11.260> with<00:04:11.620> for-profit 00:04:12.600 --> 00:04:12.610 align:start position:0% product that compete with for-profit 00:04:12.610 --> 00:04:15.930 align:start position:0% product that compete with for-profit corporations<00:04:13.890> the<00:04:14.890> next<00:04:15.160> event<00:04:15.430> that<00:04:15.670> I<00:04:15.700> think 00:04:15.930 --> 00:04:15.940 align:start position:0% corporations the next event that I think 00:04:15.940 --> 00:04:17.580 align:start position:0% corporations the next event that I think is<00:04:16.030> important<00:04:16.479> in<00:04:16.630> the<00:04:16.720> history<00:04:17.079> of<00:04:17.109> the<00:04:17.350> open 00:04:17.580 --> 00:04:17.590 align:start position:0% is important in the history of the open 00:04:17.590 --> 00:04:20.640 align:start position:0% is important in the history of the open Internet<00:04:17.919> is<00:04:18.070> the<00:04:19.060> founding<00:04:19.419> of<00:04:19.630> Bitcoin<00:04:20.169> by 00:04:20.640 --> 00:04:20.650 align:start position:0% Internet is the founding of Bitcoin by 00:04:20.650 --> 00:04:22.650 align:start position:0% Internet is the founding of Bitcoin by an<00:04:20.769> individual<00:04:21.250> or<00:04:21.430> a<00:04:21.519> group<00:04:21.880> of<00:04:22.120> individuals 00:04:22.650 --> 00:04:22.660 align:start position:0% an individual or a group of individuals 00:04:22.660 --> 00:04:25.320 align:start position:0% an individual or a group of individuals known<00:04:22.960> as<00:04:23.110> Satoshi<00:04:23.440> Nakamoto<00:04:24.010> which<00:04:24.760> solved 00:04:25.320 --> 00:04:25.330 align:start position:0% known as Satoshi Nakamoto which solved 00:04:25.330 --> 00:04:26.790 align:start position:0% known as Satoshi Nakamoto which solved the<00:04:25.479> double<00:04:25.780> spend<00:04:26.020> problem<00:04:26.500> in<00:04:26.710> the 00:04:26.790 --> 00:04:26.800 align:start position:0% the double spend problem in the 00:04:26.800 --> 00:04:28.830 align:start position:0% the double spend problem in the Byzantine<00:04:27.220> general<00:04:27.610> problem<00:04:28.060> and<00:04:28.210> created<00:04:28.780> a 00:04:28.830 --> 00:04:28.840 align:start position:0% Byzantine general problem and created a 00:04:28.840 --> 00:04:30.779 align:start position:0% Byzantine general problem and created a new<00:04:28.870> open-source<00:04:29.650> money<00:04:29.950> that<00:04:30.400> we<00:04:30.490> could<00:04:30.640> use 00:04:30.779 --> 00:04:30.789 align:start position:0% new open-source money that we could use 00:04:30.789 --> 00:04:32.270 align:start position:0% new open-source money that we could use to<00:04:30.970> transact<00:04:31.419> online 00:04:32.270 --> 00:04:32.280 align:start position:0% to transact online 00:04:32.280 --> 00:04:36.060 align:start position:0% to transact online this<00:04:33.280> was<00:04:33.460> further<00:04:33.730> extended<00:04:34.060> I<00:04:34.660> have<00:04:35.650> italic 00:04:36.060 --> 00:04:36.070 align:start position:0% this was further extended I have italic 00:04:36.070 --> 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in tag your favorite Bitcoin maximalist<00:04:45.820> with<00:04:46.060> it<00:04:46.180> I<00:04:46.360> think<00:04:46.479> that<00:04:46.720> I<00:04:47.110> get<00:04:47.590> a 00:04:47.610 --> 00:04:47.620 align:start position:0% maximalist with it I think that I get a 00:04:47.620 --> 00:04:49.070 align:start position:0% maximalist with it I think that I get a real<00:04:47.800> kick<00:04:47.979> out<00:04:48.130> of<00:04:48.190> that<00:04:48.370> conversation 00:04:49.070 --> 00:04:49.080 align:start position:0% real kick out of that conversation 00:04:49.080 --> 00:04:52.650 align:start position:0% real kick out of that conversation Vitalik<00:04:50.080> extended<00:04:50.650> the<00:04:50.830> Bitcoin<00:04:51.250> system<00:04:51.850> by 00:04:52.650 --> 00:04:52.660 align:start position:0% Vitalik extended the Bitcoin system by 00:04:52.660 --> 00:04:54.480 align:start position:0% Vitalik extended the Bitcoin system by creating<00:04:53.560> a<00:04:53.650> system<00:04:53.830> that<00:04:54.010> would<00:04:54.250> allow<00:04:54.460> for 00:04:54.480 --> 00:04:54.490 align:start position:0% creating a system that would allow for 00:04:54.490 --> 00:04:56.430 align:start position:0% creating a system that would allow for programmable<00:04:55.120> smart<00:04:55.540> contracts<00:04:56.110> and 00:04:56.430 --> 00:04:56.440 align:start position:0% programmable smart contracts and 00:04:56.440 --> 00:04:59.430 align:start position:0% programmable smart contracts and therefore<00:04:56.889> the<00:04:57.370> ability<00:04:57.580> for<00:04:58.060> the<00:04:58.870> ethereum 00:04:59.430 --> 00:04:59.440 align:start position:0% therefore the ability for the ethereum 00:04:59.440 --> 00:05:00.990 align:start position:0% therefore the ability for the ethereum blockchain<00:04:59.470> to<00:05:00.040> do<00:05:00.190> more<00:05:00.400> than<00:05:00.699> just<00:05:00.760> move 00:05:00.990 --> 00:05:01.000 align:start position:0% blockchain to do more than just move 00:05:01.000 --> 00:05:04.080 align:start position:0% blockchain to do more than just move money<00:05:01.270> across<00:05:01.570> the<00:05:01.810> world<00:05:02.190> so<00:05:03.190> a<00:05:03.460> lot<00:05:04.060> of 00:05:04.080 --> 00:05:04.090 align:start position:0% money across the world so a lot of 00:05:04.090 --> 00:05:05.820 align:start position:0% money across the world so a lot of people<00:05:04.270> don't<00:05:04.600> know<00:05:04.840> this<00:05:05.020> in<00:05:05.229> this<00:05:05.350> space<00:05:05.470> but 00:05:05.820 --> 00:05:05.830 align:start position:0% people don't know this in this space but 00:05:05.830 --> 00:05:10.500 align:start position:0% people don't know this in this space but we're<00:05:05.950> actually<00:05:06.330> sitting<00:05:07.330> at<00:05:07.770> in<00:05:08.770> 2019<00:05:09.760> at<00:05:10.030> the 00:05:10.500 --> 00:05:10.510 align:start position:0% we're actually sitting at in 2019 at the 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systems and I think<00:05:18.729> that<00:05:18.850> that's<00:05:19.030> important<00:05:19.600> to<00:05:19.960> think 00:05:19.980 --> 00:05:19.990 align:start position:0% think that that's important to think 00:05:19.990 --> 00:05:22.920 align:start position:0% think that that's important to think about<00:05:20.530> when<00:05:21.280> we're<00:05:21.460> wondering<00:05:21.910> what<00:05:22.630> is<00:05:22.720> our 00:05:22.920 --> 00:05:22.930 align:start position:0% about when we're wondering what is our 00:05:22.930 --> 00:05:25.409 align:start position:0% about when we're wondering what is our legacy<00:05:23.380> in<00:05:23.560> the<00:05:23.710> etherium<00:05:24.550> space<00:05:24.820> and<00:05:25.210> in<00:05:25.360> the 00:05:25.409 --> 00:05:25.419 align:start position:0% legacy in the etherium space and in the 00:05:25.419 --> 00:05:26.909 align:start position:0% legacy in the etherium space and in the blockchain<00:05:25.630> space<00:05:26.110> and<00:05:26.350> what<00:05:26.500> will<00:05:26.650> the<00:05:26.740> world 00:05:26.909 --> 00:05:26.919 align:start position:0% blockchain space and what will the world 00:05:26.919 --> 00:05:30.330 align:start position:0% blockchain space and what will the world look<00:05:27.039> like<00:05:27.220> in<00:05:27.669> 2035<00:05:28.389> when<00:05:28.720> I'm<00:05:28.949> retired<00:05:29.949> or 00:05:30.330 --> 00:05:30.340 align:start position:0% look like in 2035 when I'm retired or 00:05:30.340 --> 00:05:32.310 align:start position:0% look like in 2035 when I'm retired or retiring<00:05:30.760> and<00:05:31.120> looking<00:05:31.630> back<00:05:31.810> on<00:05:31.840> the<00:05:32.169> work 00:05:32.310 --> 00:05:32.320 align:start position:0% retiring and looking back on the work 00:05:32.320 --> 00:05:35.070 align:start position:0% retiring and looking back on the work that<00:05:32.710> we've<00:05:32.830> done<00:05:33.010> so<00:05:33.880> as<00:05:34.030> I<00:05:34.180> transition<00:05:34.720> from 00:05:35.070 --> 00:05:35.080 align:start position:0% that we've done so as I transition from 00:05:35.080 --> 00:05:37.080 align:start position:0% that we've done so as I transition from the<00:05:35.470> present<00:05:35.830> history<00:05:36.160> of<00:05:36.430> the<00:05:36.580> open<00:05:36.789> Internet 00:05:37.080 --> 00:05:37.090 align:start position:0% the present history of the open Internet 00:05:37.090 --> 00:05:40.620 align:start position:0% the present history of the open Internet to<00:05:37.210> the<00:05:37.300> future<00:05:37.630> history<00:05:38.110> I<00:05:38.440> want<00:05:39.070> to<00:05:39.210> say<00:05:40.210> I 00:05:40.620 --> 00:05:40.630 align:start position:0% to the future history I want to say I 00:05:40.630 --> 00:05:42.330 align:start position:0% to the future history I want to say I want<00:05:40.840> to<00:05:40.930> set<00:05:41.110> expectations<00:05:41.440> by<00:05:41.950> saying<00:05:42.220> that 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and even if I could this subject 00:05:50.500 --> 00:05:52.529 align:start position:0% minutes and even if I could this subject matter<00:05:50.650> is<00:05:50.889> so<00:05:50.919> abstract<00:05:51.460> that<00:05:51.820> I<00:05:51.970> don't<00:05:52.330> know 00:05:52.529 --> 00:05:52.539 align:start position:0% matter is so abstract that I don't know 00:05:52.539 --> 00:05:53.940 align:start position:0% matter is so abstract that I don't know that<00:05:52.900> we<00:05:53.020> would<00:05:53.110> all<00:05:53.260> come<00:05:53.470> away<00:05:53.620> with<00:05:53.860> the 00:05:53.940 --> 00:05:53.950 align:start position:0% that we would all come away with the 00:05:53.950 --> 00:05:56.279 align:start position:0% that we would all come away with the same<00:05:54.099> conception<00:05:54.729> of<00:05:54.880> it<00:05:55.000> there's<00:05:55.599> this<00:05:55.750> fable 00:05:56.279 --> 00:05:56.289 align:start position:0% same conception of it there's this fable 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elephant<00:06:04.780> and<00:06:04.930> they<00:06:05.740> come<00:06:05.950> to 00:06:06.089 --> 00:06:06.099 align:start position:0% touching the elephant and they come to 00:06:06.099 --> 00:06:08.700 align:start position:0% touching the elephant and they come to disagree<00:06:06.610> because<00:06:07.120> the<00:06:07.419> person<00:06:07.810> who<00:06:08.260> felt<00:06:08.590> the 00:06:08.700 --> 00:06:08.710 align:start position:0% disagree because the person who felt the 00:06:08.710 --> 00:06:11.010 align:start position:0% disagree because the person who felt the trunk<00:06:08.950> said<00:06:09.190> this<00:06:09.400> is<00:06:09.550> a<00:06:09.580> tree<00:06:09.940> and<00:06:10.180> the<00:06:10.630> person 00:06:11.010 --> 00:06:11.020 align:start position:0% trunk said this is a tree and the person 00:06:11.020 --> 00:06:13.080 align:start position:0% trunk said this is a tree and the person who<00:06:11.200> felt<00:06:11.440> the<00:06:11.620> Tusk<00:06:11.830> said<00:06:12.220> oh<00:06:12.400> this<00:06:12.849> is<00:06:12.910> a 00:06:13.080 --> 00:06:13.090 align:start position:0% who felt the Tusk said oh this is a 00:06:13.090 --> 00:06:16.260 align:start position:0% who felt the Tusk said oh this is a weapon<00:06:13.510> and<00:06:13.780> I<00:06:14.500> think<00:06:14.770> that<00:06:14.979> that's<00:06:15.970> a<00:06:16.150> great 00:06:16.260 --> 00:06:16.270 align:start position:0% weapon and I think that that's a great 00:06:16.270 --> 00:06:19.110 align:start position:0% weapon and I think that that's a great metaphor<00:06:16.870> for<00:06:16.900> what<00:06:17.770> is<00:06:17.889> web<00:06:18.130> 3<00:06:18.460> and<00:06:18.760> what 00:06:19.110 --> 00:06:19.120 align:start position:0% metaphor for what is web 3 and what 00:06:19.120 --> 00:06:21.210 align:start position:0% metaphor for what is web 3 and what we're<00:06:19.270> building<00:06:19.650> today<00:06:20.650> because<00:06:21.070> I<00:06:21.099> think 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disagree about what 00:06:28.539 --> 00:06:30.300 align:start position:0% blows because they disagree about what they're<00:06:28.750> conceptualizing<00:06:29.590> and<00:06:30.070> I<00:06:30.160> think 00:06:30.300 --> 00:06:30.310 align:start position:0% they're conceptualizing and I think 00:06:30.310 --> 00:06:32.279 align:start position:0% they're conceptualizing and I think that's<00:06:30.430> a<00:06:30.520> great<00:06:30.669> metaphor<00:06:31.090> for<00:06:31.810> some<00:06:31.990> of<00:06:32.110> the 00:06:32.279 --> 00:06:32.289 align:start position:0% that's a great metaphor for some of the 00:06:32.289 --> 00:06:33.750 align:start position:0% that's a great metaphor for some of the sense<00:06:32.560> making<00:06:32.800> that<00:06:33.130> we've<00:06:33.280> been<00:06:33.400> doing<00:06:33.550> on 00:06:33.750 --> 00:06:33.760 align:start position:0% sense making that we've been doing on 00:06:33.760 --> 00:06:36.960 align:start position:0% sense making that we've been doing on crypto<00:06:34.300> Twitter<00:06:34.539> about<00:06:34.810> what<00:06:35.560> web<00:06:35.740> 3<00:06:36.039> is<00:06:36.190> so 00:06:36.960 --> 00:06:36.970 align:start position:0% crypto Twitter about what web 3 is so 00:06:36.970 --> 00:06:40.800 align:start position:0% crypto Twitter about what web 3 is so with<00:06:37.300> that<00:06:37.450> caveat<00:06:37.660> aside<00:06:39.000> I'd<00:06:40.000> like<00:06:40.030> to<00:06:40.300> move 00:06:40.800 --> 00:06:40.810 align:start position:0% with that caveat aside I'd like to move 00:06:40.810 --> 00:06:44.610 align:start position:0% with that caveat aside I'd like to move on<00:06:40.960> by<00:06:41.229> talking<00:06:41.680> about<00:06:42.000> what<00:06:43.000> I<00:06:43.030> view<00:06:43.180> as<00:06:43.620> the 00:06:44.610 --> 00:06:44.620 align:start position:0% on by talking about what I view as the 00:06:44.620 --> 00:06:45.690 align:start position:0% on by talking about what I view as the primary<00:06:44.890> story 00:06:45.690 --> 00:06:45.700 align:start position:0% primary story 00:06:45.700 --> 00:06:48.570 align:start position:0% primary story of<00:06:46.290> the<00:06:47.290> creation<00:06:47.680> of<00:06:47.800> the<00:06:47.920> open<00:06:48.130> Internet<00:06:48.400> of 00:06:48.570 --> 00:06:48.580 align:start position:0% of the creation of the open Internet of 00:06:48.580 --> 00:06:50.700 align:start position:0% of the creation of the open Internet of the<00:06:48.640> people<00:06:49.030> here<00:06:49.270> at<00:06:49.510> Def<00:06:49.810> Con<00:06:49.840> which<00:06:50.530> I 00:06:50.700 --> 00:06:50.710 align:start position:0% the people here at Def Con which I 00:06:50.710 --> 00:06:53.130 align:start position:0% the people here at Def Con which I called<00:06:50.950> the<00:06:51.130> hero's<00:06:51.460> journey<00:06:51.640> so<00:06:52.480> like<00:06:52.870> many 00:06:53.130 --> 00:06:53.140 align:start position:0% called the hero's journey so like many 00:06:53.140 --> 00:06:55.320 align:start position:0% called the hero's journey so like many of<00:06:53.290> you<00:06:53.440> I<00:06:53.470> grew<00:06:53.920> up<00:06:53.950> in<00:06:54.190> a<00:06:54.250> small<00:06:54.400> town<00:06:54.790> with 00:06:55.320 --> 00:06:55.330 align:start position:0% of you I grew up in a small town with 00:06:55.330 --> 00:06:59.430 align:start position:0% of you I grew up in a small town with small-town<00:06:55.870> values<00:06:56.910> community<00:06:57.910> family<00:06:58.840> peace 00:06:59.430 --> 00:06:59.440 align:start position:0% small-town values community family peace 00:06:59.440 --> 00:07:01.950 align:start position:0% small-town values community family peace in<00:06:59.740> Brotherhood<00:07:00.220> and<00:07:00.580> like<00:07:01.150> many<00:07:01.330> of<00:07:01.540> you<00:07:01.690> I 00:07:01.950 --> 00:07:01.960 align:start position:0% in Brotherhood and like many of you I 00:07:01.960 --> 00:07:04.950 align:start position:0% in Brotherhood and like many of you I went<00:07:02.470> off<00:07:02.800> to<00:07:03.400> college<00:07:03.610> to<00:07:03.760> get<00:07:04.120> educated<00:07:04.600> I 00:07:04.950 --> 00:07:04.960 align:start position:0% went off to college to get educated I 00:07:04.960 --> 00:07:07.080 align:start position:0% went off to college to get educated I have<00:07:05.620> a<00:07:05.650> computer<00:07:06.040> science<00:07:06.400> degree<00:07:06.490> but 00:07:07.080 --> 00:07:07.090 align:start position:0% have a computer science degree but 00:07:07.090 --> 00:07:08.940 align:start position:0% have a computer science degree but studied<00:07:07.720> a<00:07:07.780> few<00:07:07.990> other<00:07:08.140> things<00:07:08.230> in<00:07:08.650> school 00:07:08.940 --> 00:07:08.950 align:start position:0% studied a few other things in school 00:07:08.950 --> 00:07:11.220 align:start position:0% studied a few other things in school eventually<00:07:09.880> launched<00:07:10.360> my<00:07:10.510> career<00:07:10.570> by<00:07:11.020> moving 00:07:11.220 --> 00:07:11.230 align:start position:0% eventually launched my career by moving 00:07:11.230 --> 00:07:12.630 align:start position:0% eventually launched my career by moving to<00:07:11.560> a<00:07:11.860> big<00:07:12.130> city 00:07:12.630 --> 00:07:12.640 align:start position:0% to a big city 00:07:12.640 --> 00:07:16.020 align:start position:0% to a big city Philadelphia<00:07:13.600> than<00:07:14.440> New<00:07:14.800> York<00:07:15.010> City<00:07:15.280> and<00:07:15.580> then 00:07:16.020 --> 00:07:16.030 align:start position:0% Philadelphia than New York City and then 00:07:16.030 --> 00:07:18.990 align:start position:0% Philadelphia than New York City and then I<00:07:16.120> got<00:07:16.300> a<00:07:16.540> big<00:07:16.930> person<00:07:17.290> job<00:07:17.580> so<00:07:18.580> you<00:07:18.640> work<00:07:18.850> your 00:07:18.990 --> 00:07:19.000 align:start position:0% I got a big person job so you work your 00:07:19.000 --> 00:07:20.850 align:start position:0% I got a big person job so you work your way<00:07:19.030> up<00:07:19.330> the<00:07:19.540> corporate<00:07:19.660> ladder<00:07:20.020> and<00:07:20.440> you're 00:07:20.850 --> 00:07:20.860 align:start position:0% way up the corporate ladder and you're 00:07:20.860 --> 00:07:23.040 align:start position:0% way up the corporate ladder and you're trying<00:07:21.100> to<00:07:21.220> please<00:07:21.400> your<00:07:22.000> boss<00:07:22.210> so<00:07:22.780> that<00:07:22.810> they 00:07:23.040 --> 00:07:23.050 align:start position:0% trying to please your boss so that they 00:07:23.050 --> 00:07:24.150 align:start position:0% trying to please your boss so that they can<00:07:23.200> please<00:07:23.410> their<00:07:23.680> boss 00:07:24.150 --> 00:07:24.160 align:start position:0% can please their boss 00:07:24.160 --> 00:07:26.070 align:start position:0% can please their boss but<00:07:24.610> what<00:07:24.790> hill<00:07:25.000> are<00:07:25.180> we<00:07:25.300> really<00:07:25.510> climbing 00:07:26.070 --> 00:07:26.080 align:start position:0% but what hill are we really climbing 00:07:26.080 --> 00:07:28.260 align:start position:0% but what hill are we really climbing when<00:07:26.710> we're<00:07:27.400> trying<00:07:27.550> to<00:07:27.730> support<00:07:27.910> our 00:07:28.260 --> 00:07:28.270 align:start position:0% when we're trying to support our 00:07:28.270 --> 00:07:30.500 align:start position:0% when we're trying to support our families<00:07:28.720> by<00:07:28.960> working<00:07:29.170> for<00:07:29.560> these<00:07:29.680> for-profit 00:07:30.500 --> 00:07:30.510 align:start position:0% families by working for these for-profit 00:07:30.510 --> 00:07:32.280 align:start position:0% families by working for these for-profit corporations<00:07:31.510> and<00:07:31.750> we're<00:07:31.840> climbing<00:07:31.990> the 00:07:32.280 --> 00:07:32.290 align:start position:0% corporations and we're climbing the 00:07:32.290 --> 00:07:32.970 align:start position:0% corporations and we're climbing the corporate<00:07:32.470> ladder 00:07:32.970 --> 00:07:32.980 align:start position:0% corporate ladder 00:07:32.980 --> 00:07:35.940 align:start position:0% corporate ladder I<00:07:33.160> found<00:07:33.760> this<00:07:34.270> path<00:07:34.600> really<00:07:34.840> distasteful<00:07:35.770> and 00:07:35.940 --> 00:07:35.950 align:start position:0% I found this path really distasteful and 00:07:35.950 --> 00:07:38.160 align:start position:0% I found this path really distasteful and I<00:07:36.340> felt<00:07:36.610> like<00:07:36.790> I<00:07:37.000> was<00:07:37.180> doing<00:07:37.330> work<00:07:37.600> that<00:07:37.660> didn't 00:07:38.160 --> 00:07:38.170 align:start position:0% I felt like I was doing work that didn't 00:07:38.170 --> 00:07:40.950 align:start position:0% I felt like I was doing work that didn't match<00:07:38.830> my<00:07:38.860> values<00:07:39.520> and<00:07:40.030> I<00:07:40.240> was<00:07:40.360> working<00:07:40.540> in 00:07:40.950 --> 00:07:40.960 align:start position:0% match my values and I was working in 00:07:40.960 --> 00:07:43.320 align:start position:0% match my values and I was working in finance<00:07:41.050> I<00:07:41.890> was<00:07:42.310> working<00:07:42.640> in<00:07:42.760> a<00:07:42.850> place<00:07:43.060> where 00:07:43.320 --> 00:07:43.330 align:start position:0% finance I was working in a place where 00:07:43.330 --> 00:07:44.880 align:start position:0% finance I was working in a place where in<00:07:43.450> order<00:07:43.600> to<00:07:43.780> feed<00:07:43.960> my<00:07:44.080> family<00:07:44.500> to<00:07:44.740> stay 00:07:44.880 --> 00:07:44.890 align:start position:0% in order to feed my family to stay 00:07:44.890 --> 00:07:46.320 align:start position:0% in order to feed my family to stay afloat<00:07:45.070> in<00:07:45.250> the<00:07:45.340> world<00:07:45.490> in<00:07:45.700> order<00:07:45.880> to<00:07:46.090> it 00:07:46.320 --> 00:07:46.330 align:start position:0% afloat in the world in order to it 00:07:46.330 --> 00:07:48.480 align:start position:0% afloat in the world in order to it advanced<00:07:46.840> my<00:07:46.960> personal<00:07:47.410> agenda<00:07:47.500> I<00:07:48.040> was 00:07:48.480 --> 00:07:48.490 align:start position:0% advanced my personal agenda I was 00:07:48.490 --> 00:07:50.730 align:start position:0% advanced my personal agenda I was working<00:07:48.820> for<00:07:49.000> some<00:07:49.240> big<00:07:49.780> corporate<00:07:50.260> fat<00:07:50.470> cat 00:07:50.730 --> 00:07:50.740 align:start position:0% working for some big corporate fat cat 00:07:50.740 --> 00:07:53.820 align:start position:0% working for some big corporate fat cat who<00:07:50.950> was<00:07:51.070> making<00:07:51.280> more<00:07:51.580> money<00:07:51.730> than<00:07:52.060> me<00:07:52.240> and<00:07:52.830> in 00:07:53.820 --> 00:07:53.830 align:start position:0% who was making more money than me and in 00:07:53.830 --> 00:07:55.770 align:start position:0% who was making more money than me and in my<00:07:54.070> case<00:07:54.130> specifically<00:07:55.060> I<00:07:55.180> felt<00:07:55.450> like<00:07:55.630> they 00:07:55.770 --> 00:07:55.780 align:start position:0% my case specifically I felt like they 00:07:55.780 --> 00:07:57.990 align:start position:0% my case specifically I felt like they were<00:07:55.810> externalizing<00:07:56.800> harm<00:07:57.040> with<00:07:57.670> the<00:07:57.820> work 00:07:57.990 --> 00:07:58.000 align:start position:0% were externalizing harm with the work 00:07:58.000 --> 00:08:00.330 align:start position:0% were externalizing harm with the work that<00:07:58.030> I<00:07:58.270> was<00:07:58.390> getting<00:07:58.840> paid<00:07:59.020> to<00:07:59.290> do<00:07:59.470> for<00:08:00.100> them 00:08:00.330 --> 00:08:00.340 align:start position:0% that I was getting paid to do for them 00:08:00.340 --> 00:08:02.790 align:start position:0% that I was getting paid to do for them so<00:08:01.090> I<00:08:01.330> hated<00:08:01.660> going<00:08:01.900> into<00:08:02.170> this<00:08:02.290> office<00:08:02.650> I 00:08:02.790 --> 00:08:02.800 align:start position:0% so I hated going into this office I 00:08:02.800 --> 00:08:05.490 align:start position:0% so I hated going into this office I hated<00:08:03.040> everything<00:08:03.490> about<00:08:03.900> the<00:08:04.900> meetings<00:08:05.230> in 00:08:05.490 --> 00:08:05.500 align:start position:0% hated everything about the meetings in 00:08:05.500 --> 00:08:08.030 align:start position:0% hated everything about the meetings in the<00:08:05.620> software<00:08:06.010> that<00:08:06.370> that<00:08:06.820> I<00:08:06.850> was<00:08:07.030> writing<00:08:07.780> and 00:08:08.030 --> 00:08:08.040 align:start position:0% the software that that I was writing and 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position:0% because my feeling is that in the etherium<00:08:15.040> space<00:08:15.310> we<00:08:15.610> can<00:08:15.790> do<00:08:15.910> work<00:08:16.090> that<00:08:16.300> not 00:08:16.440 --> 00:08:16.450 align:start position:0% etherium space we can do work that not 00:08:16.450 --> 00:08:19.140 align:start position:0% etherium space we can do work that not only<00:08:16.690> can<00:08:17.230> advance<00:08:17.740> our<00:08:18.070> pocketbooks<00:08:18.730> and<00:08:18.910> I 00:08:19.140 --> 00:08:19.150 align:start position:0% only can advance our pocketbooks and I 00:08:19.150 --> 00:08:21.390 align:start position:0% only can advance our pocketbooks and I can<00:08:19.300> support<00:08:19.630> my<00:08:19.810> family<00:08:20.050> but<00:08:20.680> I<00:08:20.710> can<00:08:20.950> also<00:08:21.130> do 00:08:21.390 --> 00:08:21.400 align:start position:0% can support my family but I can also do 00:08:21.400 --> 00:08:23.370 align:start position:0% can support my family but I can also do work<00:08:21.640> that's<00:08:22.060> creating<00:08:22.480> a<00:08:22.540> new<00:08:22.690> economy<00:08:22.960> that 00:08:23.370 --> 00:08:23.380 align:start position:0% work that's creating a new economy that 00:08:23.380 --> 00:08:25.890 align:start position:0% work that's creating a new economy that can<00:08:23.530> be<00:08:23.620> better<00:08:23.770> than<00:08:23.890> the<00:08:24.580> old<00:08:24.940> economy<00:08:25.510> that 00:08:25.890 --> 00:08:25.900 align:start position:0% can be better than the old economy that 00:08:25.900 --> 00:08:27.750 align:start position:0% can be better than the old economy that can<00:08:26.050> do<00:08:26.140> work<00:08:26.350> that<00:08:26.380> aligns<00:08:26.890> with<00:08:27.160> my<00:08:27.310> values 00:08:27.750 --> 00:08:27.760 align:start position:0% can do work that aligns with my values 00:08:27.760 --> 00:08:29.820 align:start position:0% can do work that aligns with my values and<00:08:28.180> this<00:08:28.420> hero's<00:08:28.810> journey<00:08:28.990> isn't<00:08:29.290> me<00:08:29.620> it 00:08:29.820 --> 00:08:29.830 align:start position:0% and this hero's journey isn't me it 00:08:29.830 --> 00:08:31.710 align:start position:0% and this hero's journey isn't me it isn't<00:08:30.190> just<00:08:30.430> me<00:08:30.610> I've<00:08:30.790> talked<00:08:31.030> to<00:08:31.150> many<00:08:31.390> of<00:08:31.600> you 00:08:31.710 --> 00:08:31.720 align:start position:0% isn't just me I've talked to many of you 00:08:31.720 --> 00:08:34.680 align:start position:0% isn't just me I've talked to many of you all<00:08:32.050> here<00:08:32.560> at<00:08:32.650> Def<00:08:32.830> Con<00:08:32.860> and<00:08:33.370> I<00:08:34.000> know<00:08:34.150> that 00:08:34.680 --> 00:08:34.690 align:start position:0% all here at Def Con and I know that 00:08:34.690 --> 00:08:35.940 align:start position:0% all here at Def Con and I know that there<00:08:34.870> are<00:08:34.960> other<00:08:35.110> people<00:08:35.320> out<00:08:35.590> there<00:08:35.770> that 00:08:35.940 --> 00:08:35.950 align:start position:0% there are other people out there that 00:08:35.950 --> 00:08:38.219 align:start position:0% there are other people out there that feel<00:08:36.010> this<00:08:36.340> way<00:08:36.580> the<00:08:37.390> founding<00:08:37.780> myth<00:08:37.990> of 00:08:38.219 --> 00:08:38.229 align:start position:0% feel this way the founding myth of 00:08:38.229 --> 00:08:41.390 align:start position:0% feel this way the founding myth of aetherium<00:08:38.860> is<00:08:39.130> that<00:08:39.700> we<00:08:40.390> can<00:08:40.570> create<00:08:40.870> new 00:08:41.390 --> 00:08:41.400 align:start position:0% aetherium is that we can create new 00:08:41.400 --> 00:08:44.760 align:start position:0% aetherium is that we can create new transparent<00:08:42.400> economic<00:08:43.000> systems<00:08:43.450> that<00:08:43.870> can 00:08:44.760 --> 00:08:44.770 align:start position:0% transparent economic systems that can 00:08:44.770 --> 00:08:47.670 align:start position:0% transparent economic systems that can fundamentally<00:08:45.310> be<00:08:45.940> less<00:08:46.840> corruptible<00:08:47.470> than 00:08:47.670 --> 00:08:47.680 align:start position:0% fundamentally be less corruptible than 00:08:47.680 --> 00:08:50.190 align:start position:0% fundamentally be less corruptible than the<00:08:47.800> old<00:08:47.920> systems<00:08:48.460> because<00:08:49.000> the<00:08:49.510> users<00:08:49.810> can<00:08:50.020> be 00:08:50.190 --> 00:08:50.200 align:start position:0% the old systems because the users can be 00:08:50.200 --> 00:08:53.160 align:start position:0% the old systems because the users can be owners<00:08:50.620> of<00:08:50.920> the<00:08:51.490> economic<00:08:52.150> systems<00:08:52.570> because 00:08:53.160 --> 00:08:53.170 align:start position:0% owners of the economic systems because 00:08:53.170 --> 00:08:55.170 align:start position:0% owners of the economic systems because they're<00:08:53.380> transparent<00:08:54.100> and<00:08:54.250> because<00:08:54.910> we<00:08:55.060> can 00:08:55.170 --> 00:08:55.180 align:start position:0% they're transparent and because we can 00:08:55.180 --> 00:08:57.090 align:start position:0% they're transparent and because we can program<00:08:55.510> immutability<00:08:56.020> into<00:08:56.500> the<00:08:56.590> economic 00:08:57.090 --> 00:08:57.100 align:start position:0% program immutability into the economic 00:08:57.100 --> 00:08:58.800 align:start position:0% program immutability into the economic system<00:08:57.430> so<00:08:57.670> even<00:08:57.910> if<00:08:58.030> the<00:08:58.150> creator<00:08:58.510> of<00:08:58.690> the 00:08:58.800 --> 00:08:58.810 align:start position:0% system so even if the creator of the 00:08:58.810 --> 00:08:59.630 align:start position:0% system so even if the creator of the software<00:08:59.290> assists 00:08:59.630 --> 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align:start position:0% software it would still have the the end user<00:09:07.680> interest<00:09:08.220> in<00:09:08.399> minds<00:09:10.040> and<00:09:11.240> then<00:09:12.240> I<00:09:12.510> think 00:09:12.949 --> 00:09:12.959 align:start position:0% user interest in minds and then I think 00:09:12.959 --> 00:09:15.350 align:start position:0% user interest in minds and then I think that<00:09:13.140> this<00:09:13.230> is<00:09:13.410> even<00:09:13.970> multiplied<00:09:14.970> in 00:09:15.350 --> 00:09:15.360 align:start position:0% that this is even multiplied in 00:09:15.360 --> 00:09:18.380 align:start position:0% that this is even multiplied in importance<00:09:15.959> because<00:09:16.399> from<00:09:17.399> first<00:09:17.730> principles 00:09:18.380 --> 00:09:18.390 align:start position:0% importance because from first principles 00:09:18.390 --> 00:09:22.100 align:start position:0% importance because from first principles the<00:09:18.899> internet<00:09:19.320> of<00:09:19.500> money<00:09:19.740> could<00:09:20.220> be<00:09:20.480> huge<00:09:21.480> if 00:09:22.100 --> 00:09:22.110 align:start position:0% the internet of money could be huge if 00:09:22.110 --> 00:09:23.269 align:start position:0% the internet of money could be huge if you<00:09:22.290> think<00:09:22.440> about<00:09:22.620> what<00:09:22.800> the<00:09:22.890> Internet<00:09:23.190> of 00:09:23.269 --> 00:09:23.279 align:start position:0% you think about what the Internet of 00:09:23.279 --> 00:09:26.000 align:start position:0% you think about what the Internet of information<00:09:23.850> did<00:09:24.060> to<00:09:24.240> our<00:09:24.329> society<00:09:25.079> because 00:09:26.000 --> 00:09:26.010 align:start position:0% information did to our society because 00:09:26.010 --> 00:09:28.040 align:start position:0% information did to our society because it<00:09:26.250> was<00:09:26.399> the<00:09:26.850> core<00:09:27.060> innovation<00:09:27.570> was<00:09:27.779> that<00:09:28.019> a 00:09:28.040 --> 00:09:28.050 align:start position:0% it was the core innovation was that a 00:09:28.050 --> 00:09:29.810 align:start position:0% it was the core innovation was that a group<00:09:28.260> of<00:09:28.380> computers<00:09:28.920> could<00:09:29.279> transmit 00:09:29.810 --> 00:09:29.820 align:start position:0% group of computers could transmit 00:09:29.820 --> 00:09:32.540 align:start position:0% group of computers could transmit information<00:09:30.510> across<00:09:31.260> across<00:09:32.160> the<00:09:32.279> internet 00:09:32.540 --> 00:09:32.550 align:start position:0% information across across the internet 00:09:32.550 --> 00:09:34.400 align:start position:0% information across across the internet without<00:09:32.760> an<00:09:32.880> intermediary<00:09:33.360> everything<00:09:34.260> that 00:09:34.400 --> 00:09:34.410 align:start position:0% without an intermediary everything that 00:09:34.410 --> 00:09:36.290 align:start position:0% without an intermediary everything that was<00:09:34.529> based<00:09:34.740> on<00:09:34.890> top<00:09:35.160> of<00:09:35.370> information<00:09:36.060> in 00:09:36.290 --> 00:09:36.300 align:start position:0% was based on top of information in 00:09:36.300 --> 00:09:38.540 align:start position:0% was based on top of information in society<00:09:36.899> was<00:09:37.350> fundamentally<00:09:37.920> changed<00:09:38.310> by<00:09:38.490> the 00:09:38.540 --> 00:09:38.550 align:start position:0% society was fundamentally changed by the 00:09:38.550 --> 00:09:40.970 align:start position:0% society was fundamentally changed by the internet<00:09:38.970> our<00:09:39.360> media<00:09:39.750> our<00:09:39.990> politics<00:09:40.709> the<00:09:40.950> way 00:09:40.970 --> 00:09:40.980 align:start position:0% internet our media our politics the way 00:09:40.980 --> 00:09:44.269 align:start position:0% internet our media our politics the way were<00:09:41.220> entertains<00:09:41.730> and<00:09:42.720> if<00:09:43.110> you<00:09:43.260> if<00:09:44.070> your 00:09:44.269 --> 00:09:44.279 align:start position:0% were entertains and if you if your 00:09:44.279 --> 00:09:46.430 align:start position:0% were entertains and if you if your reason<00:09:44.459> about<00:09:44.850> the<00:09:45.329> Internet<00:09:45.720> of<00:09:45.750> money<00:09:46.140> in 00:09:46.430 --> 00:09:46.440 align:start position:0% reason about the Internet of money in 00:09:46.440 --> 00:09:48.800 align:start position:0% reason about the Internet of money in that<00:09:46.890> way<00:09:47.070> and<00:09:47.339> you<00:09:47.430> ask<00:09:47.670> yourself<00:09:47.880> what<00:09:48.660> is 00:09:48.800 --> 00:09:48.810 align:start position:0% that way and you ask yourself what is 00:09:48.810 --> 00:09:51.530 align:start position:0% that way and you ask yourself what is built<00:09:49.140> on<00:09:49.290> top<00:09:49.649> of<00:09:49.709> money<00:09:50.190> well<00:09:50.880> the<00:09:51.269> answer<00:09:51.510> to 00:09:51.530 --> 00:09:51.540 align:start position:0% built on top of money well the answer to 00:09:51.540 --> 00:09:53.420 align:start position:0% built on top of money well the answer to me<00:09:51.810> is<00:09:51.839> job's<00:09:52.260> is<00:09:52.589> banking<00:09:53.160> insurance 00:09:53.420 --> 00:09:53.430 align:start position:0% me is job's is banking insurance 00:09:53.430 --> 00:09:56.389 align:start position:0% me is job's is banking insurance investments<00:09:54.290> gaming<00:09:55.290> and<00:09:55.470> gambling<00:09:55.920> there 00:09:56.389 --> 00:09:56.399 align:start position:0% investments gaming and gambling there 00:09:56.399 --> 00:09:58.670 align:start position:0% investments gaming and gambling there are<00:09:56.550> so<00:09:56.700> many<00:09:56.790> things<00:09:57.120> in<00:09:57.329> society<00:09:57.540> that<00:09:58.410> are 00:09:58.670 --> 00:09:58.680 align:start position:0% are so many things in society that are 00:09:58.680 --> 00:10:01.850 align:start position:0% are so many things in society that are built<00:09:58.890> on<00:09:59.130> top<00:09:59.190> of<00:09:59.730> on<00:10:00.149> top<00:10:00.570> of<00:10:00.779> money<00:10:00.990> and<00:10:01.350> if 00:10:01.850 --> 00:10:01.860 align:start position:0% built on top of on top of money and if 00:10:01.860 --> 00:10:04.490 align:start position:0% built on top of on top of money and if we<00:10:01.980> can<00:10:02.160> build<00:10:02.430> them<00:10:02.970> based<00:10:03.480> upon<00:10:03.660> the 00:10:04.490 --> 00:10:04.500 align:start position:0% we can build them based upon the 00:10:04.500 --> 00:10:06.410 align:start position:0% we can build them based upon the etherium<00:10:05.070> main<00:10:05.550> that<00:10:05.730> and<00:10:05.910> the<00:10:06.000> etherium 00:10:06.410 --> 00:10:06.420 align:start position:0% etherium main that and the etherium 00:10:06.420 --> 00:10:08.389 align:start position:0% etherium main that and the etherium based<00:10:06.630> technologies<00:10:07.410> then<00:10:07.980> we're<00:10:08.130> gonna<00:10:08.250> be 00:10:08.389 --> 00:10:08.399 align:start position:0% based technologies then we're gonna be 00:10:08.399 --> 00:10:11.569 align:start position:0% based technologies then we're gonna be able<00:10:08.640> to<00:10:08.820> create<00:10:09.149> a<00:10:09.769> economic<00:10:10.769> system<00:10:11.279> that<00:10:11.310> is 00:10:11.569 --> 00:10:11.579 align:start position:0% able to create a economic system that is 00:10:11.579 --> 00:10:14.120 align:start position:0% able to create a economic system that is hopefully<00:10:12.060> freer<00:10:12.600> fairer<00:10:13.170> and<00:10:13.470> more<00:10:13.589> open 00:10:14.120 --> 00:10:14.130 align:start position:0% hopefully freer fairer and more open 00:10:14.130 --> 00:10:17.329 align:start position:0% hopefully freer fairer and more open than<00:10:14.279> the<00:10:14.399> one<00:10:14.550> that<00:10:14.579> existed<00:10:15.269> before<00:10:15.480> and<00:10:16.339> as 00:10:17.329 --> 00:10:17.339 align:start position:0% than the one that existed before and as 00:10:17.339 --> 00:10:20.949 align:start position:0% than the one that existed before and as someone<00:10:18.209> who<00:10:18.420> as<00:10:18.690> I<00:10:19.290> said<00:10:19.529> before<00:10:19.709> has 00:10:20.949 --> 00:10:20.959 align:start position:0% someone who as I said before has 00:10:20.959 --> 00:10:23.840 align:start position:0% someone who as I said before has small-town<00:10:21.959> community<00:10:22.350> values<00:10:23.070> and<00:10:23.459> I 00:10:23.840 --> 00:10:23.850 align:start position:0% small-town community values and I 00:10:23.850 --> 00:10:26.540 align:start position:0% small-town community values and I believe<00:10:24.480> what<00:10:25.170> we're<00:10:25.529> doing<00:10:25.829> in<00:10:25.949> Colorado 00:10:26.540 --> 00:10:26.550 align:start position:0% believe what we're doing in Colorado 00:10:26.550 --> 00:10:29.240 align:start position:0% believe what we're doing in Colorado with<00:10:27.269> respect<00:10:27.720> to<00:10:27.839> community<00:10:28.230> is<00:10:28.649> working 00:10:29.240 --> 00:10:29.250 align:start position:0% with respect to community is working 00:10:29.250 --> 00:10:31.550 align:start position:0% with respect to community is working it's<00:10:29.430> a<00:10:29.550> really<00:10:29.760> great<00:10:29.970> place<00:10:30.269> to<00:10:30.300> to<00:10:31.199> live<00:10:31.380> and 00:10:31.550 --> 00:10:31.560 align:start position:0% it's a really great place to to live and 00:10:31.560 --> 00:10:34.160 align:start position:0% it's a really great place to to live and work<00:10:31.740> the<00:10:32.040> neighbors<00:10:32.399> are<00:10:32.670> friendly<00:10:33.570> we<00:10:34.050> have 00:10:34.160 --> 00:10:34.170 align:start position:0% work the neighbors are friendly we have 00:10:34.170 --> 00:10:36.199 align:start position:0% work the neighbors are friendly we have an<00:10:34.290> economic<00:10:34.829> system<00:10:35.040> in<00:10:35.519> which<00:10:35.820> we<00:10:36.060> can 00:10:36.199 --> 00:10:36.209 align:start position:0% an economic system in which we can 00:10:36.209 --> 00:10:38.720 align:start position:0% an economic system in which we can transact<00:10:36.570> in<00:10:36.720> our<00:10:36.870> local<00:10:37.170> economy<00:10:37.709> and<00:10:37.860> we<00:10:38.579> can 00:10:38.720 --> 00:10:38.730 align:start position:0% transact in our local economy and we can 00:10:38.730 --> 00:10:40.490 align:start position:0% transact in our local economy and we can take<00:10:38.940> care<00:10:39.120> of<00:10:39.180> we<00:10:39.660> can<00:10:39.810> take<00:10:39.990> care<00:10:40.230> of<00:10:40.350> each 00:10:40.490 --> 00:10:40.500 align:start position:0% take care of we can take care of each 00:10:40.500 --> 00:10:43.670 align:start position:0% take care of we can take care of each other<00:10:41.149> I'm<00:10:42.149> really<00:10:42.510> hopeful<00:10:42.930> that<00:10:42.959> the 00:10:43.670 --> 00:10:43.680 align:start position:0% other I'm really hopeful that the 00:10:43.680 --> 00:10:46.579 align:start position:0% other I'm really hopeful that the etherium<00:10:44.490> based<00:10:45.329> internet<00:10:45.690> will<00:10:45.990> allow<00:10:46.199> us<00:10:46.410> to 00:10:46.579 --> 00:10:46.589 align:start position:0% etherium based internet will allow us to 00:10:46.589 --> 00:10:48.170 align:start position:0% etherium based internet will allow us to take<00:10:46.860> what's<00:10:47.370> working<00:10:47.610> in<00:10:47.790> our<00:10:47.880> local 00:10:48.170 --> 00:10:48.180 align:start position:0% take what's working in our local 00:10:48.180 --> 00:10:51.199 align:start position:0% take what's working in our local communities<00:10:48.690> and<00:10:48.930> scale<00:10:49.560> it<00:10:49.740> past<00:10:50.010> to<00:10:50.550> pass 00:10:51.199 --> 00:10:51.209 align:start position:0% communities and scale it past to pass 00:10:51.209 --> 00:10:53.889 align:start position:0% communities and scale it past to pass what's<00:10:51.720> the<00:10:52.290> suggested<00:10:52.949> cognitive<00:10:53.430> limit<00:10:53.730> in 00:10:53.889 --> 00:10:53.899 align:start position:0% what's the suggested cognitive limit in 00:10:53.899 --> 00:10:57.939 align:start position:0% what's the suggested cognitive limit in humans<00:10:54.899> called<00:10:55.829> Dunbar's<00:10:56.220> number<00:10:56.310> so 00:10:57.939 --> 00:10:57.949 align:start position:0% humans called Dunbar's number so 00:10:57.949 --> 00:10:59.870 align:start position:0% humans called Dunbar's number so Tumblr's<00:10:58.949> number<00:10:59.220> is<00:10:59.310> a<00:10:59.339> suggestive 00:10:59.870 --> 00:10:59.880 align:start position:0% Tumblr's number is a suggestive 00:10:59.880 --> 00:11:01.970 align:start position:0% Tumblr's number is a suggestive cognitive<00:11:00.390> limit<00:11:00.660> in<00:11:00.810> which<00:11:00.870> says<00:11:01.740> that<00:11:01.769> you 00:11:01.970 --> 00:11:01.980 align:start position:0% cognitive limit in which says that you 00:11:01.980 --> 00:11:03.639 align:start position:0% cognitive limit in which says that you can<00:11:02.190> basically<00:11:02.430> only<00:11:02.820> have<00:11:03.089> stable 00:11:03.639 --> 00:11:03.649 align:start position:0% can basically only have stable 00:11:03.649 --> 00:11:05.900 align:start position:0% can basically only have stable relationships<00:11:04.649> with<00:11:04.890> up<00:11:05.070> to<00:11:05.190> five<00:11:05.370> people<00:11:05.610> in 00:11:05.900 --> 00:11:05.910 align:start position:0% relationships with up to five people in 00:11:05.910 --> 00:11:08.660 align:start position:0% relationships with up to five people in York<00:11:06.060> in<00:11:06.440> 15<00:11:07.440> people<00:11:07.680> in<00:11:07.860> your<00:11:07.980> super<00:11:08.279> family 00:11:08.660 --> 00:11:08.670 align:start position:0% York in 15 people in your super family 00:11:08.670 --> 00:11:11.460 align:start position:0% York in 15 people in your super family or<00:11:09.029> 150<00:11:09.959> people<00:11:10.170> in<00:11:10.380> your<00:11:10.470> tribe 00:11:11.460 --> 00:11:11.470 align:start position:0% or 150 people in your tribe 00:11:11.470 --> 00:11:13.110 align:start position:0% or 150 people in your tribe and<00:11:11.560> so<00:11:11.890> this<00:11:12.010> is<00:11:12.160> a<00:11:12.190> cognitive<00:11:12.670> limit<00:11:12.970> in 00:11:13.110 --> 00:11:13.120 align:start position:0% and so this is a cognitive limit in 00:11:13.120 --> 00:11:16.560 align:start position:0% and so this is a cognitive limit in humans<00:11:13.690> it<00:11:14.050> exists<00:11:14.770> and<00:11:15.040> it's<00:11:15.730> it's<00:11:16.120> basically 00:11:16.560 --> 00:11:16.570 align:start position:0% humans it exists and it's it's basically 00:11:16.570 --> 00:11:18.000 align:start position:0% humans it exists and it's it's basically something<00:11:16.990> that<00:11:17.260> we<00:11:17.350> evolved<00:11:17.800> in<00:11:17.890> our 00:11:18.000 --> 00:11:18.010 align:start position:0% something that we evolved in our 00:11:18.010 --> 00:11:21.180 align:start position:0% something that we evolved in our hunter-gatherer<00:11:18.340> days<00:11:18.970> and<00:11:19.620> the<00:11:20.620> the<00:11:20.920> sort<00:11:21.130> of 00:11:21.180 --> 00:11:21.190 align:start position:0% hunter-gatherer days and the the sort of 00:11:21.190 --> 00:11:22.950 align:start position:0% hunter-gatherer days and the the sort of like<00:11:21.340> composable<00:11:22.120> things<00:11:22.510> that<00:11:22.720> are<00:11:22.840> working 00:11:22.950 --> 00:11:22.960 align:start position:0% like composable things that are working 00:11:22.960 --> 00:11:24.600 align:start position:0% like composable things that are working in<00:11:23.200> our<00:11:23.320> local<00:11:23.530> communities<00:11:24.070> is<00:11:24.310> that<00:11:24.490> we're 00:11:24.600 --> 00:11:24.610 align:start position:0% in our local communities is that we're 00:11:24.610 --> 00:11:26.910 align:start position:0% in our local communities is that we're having<00:11:24.730> repeat<00:11:25.270> interactions<00:11:25.960> we're<00:11:26.620> having 00:11:26.910 --> 00:11:26.920 align:start position:0% having repeat interactions we're having 00:11:26.920 --> 00:11:29.400 align:start position:0% having repeat interactions we're having possible<00:11:27.430> win<00:11:27.910> wins<00:11:28.180> in<00:11:28.600> our<00:11:28.750> interactions 00:11:29.400 --> 00:11:29.410 align:start position:0% possible win wins in our interactions 00:11:29.410 --> 00:11:31.200 align:start position:0% possible win wins in our interactions with<00:11:29.530> people<00:11:29.950> in<00:11:30.070> our<00:11:30.190> local<00:11:30.370> communities<00:11:31.000> and 00:11:31.200 --> 00:11:31.210 align:start position:0% with people in our local communities and 00:11:31.210 --> 00:11:33.360 align:start position:0% with people in our local communities and we're<00:11:31.810> having<00:11:31.960> low<00:11:32.500> miscommunication 00:11:33.360 --> 00:11:33.370 align:start position:0% we're having low miscommunication 00:11:33.370 --> 00:11:34.860 align:start position:0% we're having low miscommunication ideally<00:11:34.000> with<00:11:34.120> people<00:11:34.390> in<00:11:34.510> our<00:11:34.600> local 00:11:34.860 --> 00:11:34.870 align:start position:0% ideally with people in our local 00:11:34.870 --> 00:11:38.460 align:start position:0% ideally with people in our local communities<00:11:35.350> so<00:11:35.560> my<00:11:36.100> hope<00:11:36.280> is<00:11:36.610> that<00:11:37.470> with 00:11:38.460 --> 00:11:38.470 align:start position:0% communities so my hope is that with 00:11:38.470 --> 00:11:40.590 align:start position:0% communities so my hope is that with aetherium<00:11:39.130> creating<00:11:39.760> a<00:11:39.820> new<00:11:40.000> internet<00:11:40.420> in 00:11:40.590 --> 00:11:40.600 align:start position:0% aetherium creating a new internet in 00:11:40.600 --> 00:11:42.660 align:start position:0% aetherium creating a new internet in which<00:11:40.780> Trust<00:11:41.110> is<00:11:41.290> able<00:11:41.560> to<00:11:41.680> be<00:11:41.800> managed<00:11:42.400> and 00:11:42.660 --> 00:11:42.670 align:start position:0% which Trust is able to be managed and 00:11:42.670 --> 00:11:43.980 align:start position:0% which Trust is able to be managed and move<00:11:42.910> around<00:11:43.030> that<00:11:43.480> we're<00:11:43.570> going<00:11:43.690> to<00:11:43.780> be<00:11:43.930> able 00:11:43.980 --> 00:11:43.990 align:start position:0% move around that we're going to be able 00:11:43.990 --> 00:11:45.330 align:start position:0% move around that we're going to be able to<00:11:44.110> scaled<00:11:44.500> on<00:11:44.710> Mars<00:11:44.920> map 00:11:45.330 --> 00:11:45.340 align:start position:0% to scaled on Mars map 00:11:45.340 --> 00:11:47.430 align:start position:0% to scaled on Mars map Dunbar's<00:11:45.760> number<00:11:45.820> so<00:11:46.810> the<00:11:46.930> internet<00:11:47.230> was<00:11:47.410> a 00:11:47.430 --> 00:11:47.440 align:start position:0% Dunbar's number so the internet was a 00:11:47.440 --> 00:11:49.920 align:start position:0% Dunbar's number so the internet was a fundamentally<00:11:48.300> foundationally<00:11:49.300> chain<00:11:49.570> it 00:11:49.920 --> 00:11:49.930 align:start position:0% fundamentally foundationally chain it 00:11:49.930 --> 00:11:51.270 align:start position:0% fundamentally foundationally chain it conditionally<00:11:50.680> changed<00:11:50.950> the<00:11:51.040> way<00:11:51.130> we 00:11:51.270 --> 00:11:51.280 align:start position:0% conditionally changed the way we 00:11:51.280 --> 00:11:52.800 align:start position:0% conditionally changed the way we interact<00:11:51.490> with<00:11:51.790> each<00:11:51.940> other<00:11:52.300> because<00:11:52.450> it 00:11:52.800 --> 00:11:52.810 align:start position:0% interact with each other because it 00:11:52.810 --> 00:11:54.240 align:start position:0% interact with each other because it allowed<00:11:52.990> you<00:11:53.170> to<00:11:53.290> access<00:11:53.680> someone<00:11:54.040> from 00:11:54.240 --> 00:11:54.250 align:start position:0% allowed you to access someone from 00:11:54.250 --> 00:11:56.220 align:start position:0% allowed you to access someone from across<00:11:54.370> the<00:11:54.790> world<00:11:54.940> but<00:11:55.630> it<00:11:55.750> didn't<00:11:55.990> allow<00:11:56.170> you 00:11:56.220 --> 00:11:56.230 align:start position:0% across the world but it didn't allow you 00:11:56.230 --> 00:11:58.230 align:start position:0% across the world but it didn't allow you to<00:11:56.500> trust<00:11:56.770> someone<00:11:57.130> from<00:11:57.580> across<00:11:57.850> the<00:11:58.090> world 00:11:58.230 --> 00:11:58.240 align:start position:0% to trust someone from across the world 00:11:58.240 --> 00:12:00.720 align:start position:0% to trust someone from across the world and<00:11:58.510> it<00:11:58.960> and<00:11:59.290> it<00:11:59.410> didn't<00:11:59.680> allow<00:11:59.920> you<00:11:59.980> to<00:12:00.280> create 00:12:00.720 --> 00:12:00.730 align:start position:0% and it and it didn't allow you to create 00:12:00.730 --> 00:12:03.000 align:start position:0% and it and it didn't allow you to create a<00:12:01.000> meaningful<00:12:01.510> relationship<00:12:01.840> or<00:12:02.530> a<00:12:02.590> stable 00:12:03.000 --> 00:12:03.010 align:start position:0% a meaningful relationship or a stable 00:12:03.010 --> 00:12:04.800 align:start position:0% a meaningful relationship or a stable social<00:12:03.490> relationship<00:12:04.180> with<00:12:04.420> people<00:12:04.720> across 00:12:04.800 --> 00:12:04.810 align:start position:0% social relationship with people across 00:12:04.810 --> 00:12:06.840 align:start position:0% social relationship with people across the<00:12:05.170> world<00:12:05.290> and<00:12:05.620> I<00:12:06.100> think<00:12:06.130> that<00:12:06.490> if<00:12:06.670> we<00:12:06.760> can 00:12:06.840 --> 00:12:06.850 align:start position:0% the world and I think that if we can 00:12:06.850 --> 00:12:08.400 align:start position:0% the world and I think that if we can program<00:12:07.210> our<00:12:07.390> sentence<00:12:07.720> sentence<00:12:08.080> into<00:12:08.320> our 00:12:08.400 --> 00:12:08.410 align:start position:0% program our sentence sentence into our 00:12:08.410 --> 00:12:09.870 align:start position:0% program our sentence sentence into our money<00:12:08.590> then<00:12:08.800> we<00:12:08.920> can<00:12:09.070> create<00:12:09.220> incentives 00:12:09.870 --> 00:12:09.880 align:start position:0% money then we can create incentives 00:12:09.880 --> 00:12:12.120 align:start position:0% money then we can create incentives which<00:12:10.450> will<00:12:10.780> allow<00:12:10.990> us<00:12:11.170> to<00:12:11.350> have<00:12:11.680> more<00:12:11.920> stable 00:12:12.120 --> 00:12:12.130 align:start position:0% which will allow us to have more stable 00:12:12.130 --> 00:12:15.590 align:start position:0% which will allow us to have more stable social<00:12:12.610> relationships<00:12:13.300> across<00:12:13.990> the<00:12:14.290> world 00:12:15.590 --> 00:12:15.600 align:start position:0% social relationships across the world 00:12:15.600 --> 00:12:18.450 align:start position:0% social relationships across the world the<00:12:16.600> the<00:12:16.630> final<00:12:17.260> principle<00:12:17.890> that<00:12:18.190> I<00:12:18.220> want<00:12:18.400> to 00:12:18.450 --> 00:12:18.460 align:start position:0% the the final principle that I want to 00:12:18.460 --> 00:12:21.690 align:start position:0% the the final principle that I want to talk<00:12:18.610> about<00:12:18.790> really<00:12:19.480> quick<00:12:19.690> is<00:12:20.280> the<00:12:21.280> Matthew 00:12:21.690 --> 00:12:21.700 align:start position:0% talk about really quick is the Matthew 00:12:21.700 --> 00:12:23.700 align:start position:0% talk about really quick is the Matthew effect<00:12:22.060> which<00:12:22.630> is<00:12:22.810> basically<00:12:23.200> to<00:12:23.380> explain 00:12:23.700 --> 00:12:23.710 align:start position:0% effect which is basically to explain 00:12:23.710 --> 00:12:27.030 align:start position:0% effect which is basically to explain sometimes<00:12:24.220> as<00:12:24.550> the<00:12:25.090> cumulative<00:12:25.630> effect<00:12:26.110> of<00:12:26.380> a 00:12:27.030 --> 00:12:27.040 align:start position:0% sometimes as the cumulative effect of a 00:12:27.040 --> 00:12:29.490 align:start position:0% sometimes as the cumulative effect of a cumulative<00:12:27.730> advantage<00:12:28.720> and<00:12:29.230> it<00:12:29.320> can<00:12:29.410> be 00:12:29.490 --> 00:12:29.500 align:start position:0% cumulative advantage and it can be 00:12:29.500 --> 00:12:32.040 align:start position:0% cumulative advantage and it can be observed<00:12:29.830> in<00:12:30.220> many<00:12:30.520> aspects<00:12:31.150> of<00:12:31.270> life<00:12:31.750> in 00:12:32.040 --> 00:12:32.050 align:start position:0% observed in many aspects of life in 00:12:32.050 --> 00:12:35.880 align:start position:0% observed in many aspects of life in systems<00:12:32.590> where<00:12:33.810> where<00:12:34.810> the<00:12:35.170> rich<00:12:35.290> get<00:12:35.530> richer 00:12:35.880 --> 00:12:35.890 align:start position:0% systems where where the rich get richer 00:12:35.890 --> 00:12:38.400 align:start position:0% systems where where the rich get richer the<00:12:36.340> people<00:12:36.640> who<00:12:36.820> have<00:12:37.030> resources<00:12:37.480> continue 00:12:38.400 --> 00:12:38.410 align:start position:0% the people who have resources continue 00:12:38.410 --> 00:12:42.390 align:start position:0% the people who have resources continue to<00:12:38.620> monopolize<00:12:39.100> the<00:12:39.430> resources<00:12:40.150> and<00:12:40.620> and<00:12:41.620> my 00:12:42.390 --> 00:12:42.400 align:start position:0% to monopolize the resources and and my 00:12:42.400 --> 00:12:44.670 align:start position:0% to monopolize the resources and and my hope<00:12:42.640> is<00:12:42.910> that<00:12:42.970> because<00:12:43.630> we<00:12:43.840> have<00:12:43.870> a<00:12:44.440> new 00:12:44.670 --> 00:12:44.680 align:start position:0% hope is that because we have a new 00:12:44.680 --> 00:12:46.200 align:start position:0% hope is that because we have a new financial<00:12:44.920> system<00:12:45.520> that<00:12:45.550> we're<00:12:45.820> building<00:12:45.850> in 00:12:46.200 --> 00:12:46.210 align:start position:0% financial system that we're building in 00:12:46.210 --> 00:12:48.240 align:start position:0% financial system that we're building in the<00:12:46.300> etherium<00:12:46.750> space<00:12:47.050> not<00:12:47.800> that<00:12:48.010> everything 00:12:48.240 --> 00:12:48.250 align:start position:0% the etherium space not that everything 00:12:48.250 --> 00:12:51.930 align:start position:0% the etherium space not that everything will<00:12:49.350> these<00:12:50.350> these<00:12:50.770> new<00:12:50.830> systems<00:12:51.430> that<00:12:51.790> we're 00:12:51.930 --> 00:12:51.940 align:start position:0% will these these new systems that we're 00:12:51.940 --> 00:12:53.340 align:start position:0% will these these new systems that we're building<00:12:52.030> in<00:12:52.300> the<00:12:52.390> etherium<00:12:52.750> space<00:12:52.930> will<00:12:53.170> just 00:12:53.340 --> 00:12:53.350 align:start position:0% building in the etherium space will just 00:12:53.350 --> 00:12:55.380 align:start position:0% building in the etherium space will just magically<00:12:53.500> be<00:12:54.040> better<00:12:54.250> but<00:12:54.790> because<00:12:55.090> we<00:12:55.240> have 00:12:55.380 --> 00:12:55.390 align:start position:0% magically be better but because we have 00:12:55.390 --> 00:12:57.210 align:start position:0% magically be better but because we have the<00:12:55.510> properties<00:12:55.960> of<00:12:56.140> transparency<00:12:57.010> and 00:12:57.210 --> 00:12:57.220 align:start position:0% the properties of transparency and 00:12:57.220 --> 00:12:59.640 align:start position:0% the properties of transparency and immutability<00:12:58.150> we<00:12:58.750> can<00:12:58.930> build<00:12:59.080> systems<00:12:59.500> that 00:12:59.640 --> 00:12:59.650 align:start position:0% immutability we can build systems that 00:12:59.650 --> 00:13:01.770 align:start position:0% immutability we can build systems that are<00:12:59.830> fundamentally<00:13:00.400> resistant<00:13:01.000> to<00:13:01.330> the 00:13:01.770 --> 00:13:01.780 align:start position:0% are fundamentally resistant to the 00:13:01.780 --> 00:13:04.410 align:start position:0% are fundamentally resistant to the accumulation<00:13:02.320> the<00:13:03.010> cumulative<00:13:03.550> accumulation 00:13:04.410 --> 00:13:04.420 align:start position:0% accumulation the cumulative accumulation 00:13:04.420 --> 00:13:08.010 align:start position:0% accumulation the cumulative accumulation of<00:13:04.630> capital<00:13:05.320> over<00:13:05.470> time<00:13:05.770> and<00:13:06.840> what's<00:13:07.840> really 00:13:08.010 --> 00:13:08.020 align:start position:0% of capital over time and what's really 00:13:08.020 --> 00:13:11.940 align:start position:0% of capital over time and what's really exciting<00:13:08.230> is<00:13:08.740> that<00:13:09.540> this<00:13:10.540> year<00:13:10.870> at<00:13:11.080> Def<00:13:11.500> Con<00:13:11.560> we 00:13:11.940 --> 00:13:11.950 align:start position:0% exciting is that this year at Def Con we 00:13:11.950 --> 00:13:15.030 align:start position:0% exciting is that this year at Def Con we can<00:13:12.100> all<00:13:12.280> point<00:13:12.550> at<00:13:12.820> defy<00:13:13.300> and<00:13:13.660> open<00:13:14.590> fie<00:13:14.770> and 00:13:15.030 --> 00:13:15.040 align:start position:0% can all point at defy and open fie and 00:13:15.040 --> 00:13:19.680 align:start position:0% can all point at defy and open fie and say<00:13:15.730> you<00:13:16.360> can<00:13:16.540> do<00:13:17.580> you<00:13:18.580> can<00:13:18.760> do<00:13:18.910> transactions 00:13:19.680 --> 00:13:19.690 align:start position:0% say you can do you can do transactions 00:13:19.690 --> 00:13:22.200 align:start position:0% say you can do you can do transactions on<00:13:19.930> get<00:13:20.380> coin<00:13:20.620> in<00:13:21.160> order<00:13:21.430> to<00:13:21.550> work<00:13:21.700> for<00:13:21.910> open 00:13:22.200 --> 00:13:22.210 align:start position:0% on get coin in order to work for open 00:13:22.210 --> 00:13:24.330 align:start position:0% on get coin in order to work for open source<00:13:22.420> software<00:13:22.660> you<00:13:23.440> can<00:13:23.590> can<00:13:24.040> you<00:13:24.310> can 00:13:24.330 --> 00:13:24.340 align:start position:0% source software you can can you can 00:13:24.340 --> 00:13:25.260 align:start position:0% source software you can can you can transact<00:13:24.910> with 00:13:25.260 --> 00:13:25.270 align:start position:0% transact with 00:13:25.270 --> 00:13:27.510 align:start position:0% transact with stable<00:13:25.630> coin<00:13:25.870> you<00:13:26.470> can<00:13:26.500> make<00:13:26.860> investments 00:13:27.510 --> 00:13:27.520 align:start position:0% stable coin you can make investments 00:13:27.520 --> 00:13:28.950 align:start position:0% stable coin you can make investments with<00:13:27.670> compound<00:13:28.180> and<00:13:28.420> now<00:13:28.480> we<00:13:28.660> even<00:13:28.810> have 00:13:28.950 --> 00:13:28.960 align:start position:0% with compound and now we even have 00:13:28.960 --> 00:13:31.500 align:start position:0% with compound and now we even have extensibility<00:13:29.770> of<00:13:30.010> compound<00:13:30.430> that<00:13:30.580> we<00:13:30.730> can<00:13:30.880> we 00:13:31.500 --> 00:13:31.510 align:start position:0% extensibility of compound that we can we 00:13:31.510 --> 00:13:34.800 align:start position:0% extensibility of compound that we can we can<00:13:31.690> we<00:13:32.620> can<00:13:32.650> do<00:13:32.920> transactions<00:13:33.670> that<00:13:34.060> benefit 00:13:34.800 --> 00:13:34.810 align:start position:0% can we can do transactions that benefit 00:13:34.810 --> 00:13:37.590 align:start position:0% can we can do transactions that benefit other<00:13:34.960> people<00:13:35.260> with<00:13:35.500> with<00:13:35.860> our<00:13:35.890> die<00:13:36.250> and<00:13:36.610> it's 00:13:37.590 --> 00:13:37.600 align:start position:0% other people with with our die and it's 00:13:37.600 --> 00:13:39.510 align:start position:0% other people with with our die and it's it's<00:13:37.990> with<00:13:38.200> this<00:13:38.410> in<00:13:38.590> mind<00:13:38.890> that<00:13:39.040> I'm<00:13:39.190> a<00:13:39.220> little 00:13:39.510 --> 00:13:39.520 align:start position:0% it's with this in mind that I'm a little 00:13:39.520 --> 00:13:42.360 align:start position:0% it's with this in mind that I'm a little bit<00:13:39.670> worried<00:13:40.030> that<00:13:40.750> we're<00:13:41.320> just<00:13:41.650> gonna<00:13:41.800> see<00:13:42.130> a 00:13:42.360 --> 00:13:42.370 align:start position:0% bit worried that we're just gonna see a 00:13:42.370 --> 00:13:44.940 align:start position:0% bit worried that we're just gonna see a region<00:13:42.610> so<00:13:43.360> the<00:13:43.600> existing<00:13:44.050> financial<00:13:44.440> system 00:13:44.940 --> 00:13:44.950 align:start position:0% region so the existing financial system 00:13:44.950 --> 00:13:46.380 align:start position:0% region so the existing financial system and<00:13:45.100> the<00:13:45.160> incentive<00:13:45.610> structures<00:13:46.030> that<00:13:46.270> exist 00:13:46.380 --> 00:13:46.390 align:start position:0% and the incentive structures that exist 00:13:46.390 --> 00:13:48.810 align:start position:0% and the incentive structures that exist in<00:13:46.750> the<00:13:46.960> existing<00:13:47.860> financial<00:13:48.250> system 00:13:48.810 --> 00:13:48.820 align:start position:0% in the existing financial system 00:13:48.820 --> 00:13:50.610 align:start position:0% in the existing financial system re-emerge<00:13:49.450> but<00:13:49.810> with<00:13:49.960> aetherium<00:13:50.380> based 00:13:50.610 --> 00:13:50.620 align:start position:0% re-emerge but with aetherium based 00:13:50.620 --> 00:13:52.650 align:start position:0% re-emerge but with aetherium based technology<00:13:51.310> so<00:13:51.970> I<00:13:52.030> think<00:13:52.090> the<00:13:52.270> etherium 00:13:52.650 --> 00:13:52.660 align:start position:0% technology so I think the etherium 00:13:52.660 --> 00:13:55.020 align:start position:0% technology so I think the etherium community<00:13:53.110> is<00:13:53.200> bundled<00:13:53.620> up<00:13:53.770> as<00:13:54.010> a<00:13:54.730> set<00:13:54.940> of 00:13:55.020 --> 00:13:55.030 align:start position:0% community is bundled up as a set of 00:13:55.030 --> 00:13:57.630 align:start position:0% community is bundled up as a set of technologies<00:13:55.750> but<00:13:56.350> it's<00:13:56.530> also<00:13:56.710> a<00:13:57.220> set<00:13:57.520> of 00:13:57.630 --> 00:13:57.640 align:start position:0% technologies but it's also a set of 00:13:57.640 --> 00:14:00.240 align:start position:0% technologies but it's also a set of values<00:13:57.820> around<00:13:58.750> censorship<00:13:59.650> resistance 00:14:00.240 --> 00:14:00.250 align:start position:0% values around censorship resistance 00:14:00.250 --> 00:14:02.250 align:start position:0% values around censorship resistance around<00:14:00.460> decentralization<00:14:01.330> around<00:14:02.020> pushing 00:14:02.250 --> 00:14:02.260 align:start position:0% around decentralization around pushing 00:14:02.260 --> 00:14:04.740 align:start position:0% around decentralization around pushing power<00:14:02.500> to<00:14:02.830> the<00:14:02.920> edges<00:14:03.220> and<00:14:03.460> there's<00:14:04.270> we've 00:14:04.740 --> 00:14:04.750 align:start position:0% power to the edges and there's we've 00:14:04.750 --> 00:14:06.480 align:start position:0% power to the edges and there's we've seen<00:14:04.930> a<00:14:04.960> lot<00:14:05.140> of<00:14:05.260> vc<00:14:05.410> chains<00:14:05.860> launched<00:14:06.280> over 00:14:06.480 --> 00:14:06.490 align:start position:0% seen a lot of vc chains launched over 00:14:06.490 --> 00:14:08.790 align:start position:0% seen a lot of vc chains launched over the<00:14:06.670> last<00:14:06.880> several<00:14:07.120> years<00:14:07.270> last<00:14:08.200> year<00:14:08.380> or<00:14:08.470> so 00:14:08.790 --> 00:14:08.800 align:start position:0% the last several years last year or so 00:14:08.800 --> 00:14:10.890 align:start position:0% the last several years last year or so that<00:14:09.220> are<00:14:09.460> basically<00:14:10.000> taking<00:14:10.540> technology 00:14:10.890 --> 00:14:10.900 align:start position:0% that are basically taking technology 00:14:10.900 --> 00:14:12.660 align:start position:0% that are basically taking technology that<00:14:11.290> looks<00:14:11.530> and<00:14:11.890> sounds<00:14:12.070> a<00:14:12.460> lot<00:14:12.610> like 00:14:12.660 --> 00:14:12.670 align:start position:0% that looks and sounds a lot like 00:14:12.670 --> 00:14:15.000 align:start position:0% that looks and sounds a lot like etherium<00:14:13.330> but<00:14:13.840> i<00:14:13.870> don't<00:14:14.080> fundamentally<00:14:14.440> think 00:14:15.000 --> 00:14:15.010 align:start position:0% etherium but i don't fundamentally think 00:14:15.010 --> 00:14:16.410 align:start position:0% etherium but i don't fundamentally think it's<00:14:15.250> bundled<00:14:15.430> up<00:14:15.700> with<00:14:15.850> the<00:14:15.940> same<00:14:16.120> sort<00:14:16.330> of 00:14:16.410 --> 00:14:16.420 align:start position:0% it's bundled up with the same sort of 00:14:16.420 --> 00:14:18.600 align:start position:0% it's bundled up with the same sort of values<00:14:16.780> that<00:14:16.990> we're<00:14:17.170> seeing<00:14:17.410> from<00:14:18.160> the 00:14:18.600 --> 00:14:18.610 align:start position:0% values that we're seeing from the 00:14:18.610 --> 00:14:21.030 align:start position:0% values that we're seeing from the etherium<00:14:19.030> space<00:14:19.300> and<00:14:19.690> in<00:14:20.140> the<00:14:20.530> founding<00:14:20.860> myth 00:14:21.030 --> 00:14:21.040 align:start position:0% etherium space and in the founding myth 00:14:21.040 --> 00:14:24.210 align:start position:0% etherium space and in the founding myth of<00:14:21.340> etherium<00:14:21.910> so<00:14:22.810> the<00:14:23.170> thought<00:14:23.380> that<00:14:24.040> i<00:14:24.070> would 00:14:24.210 --> 00:14:24.220 align:start position:0% of etherium so the thought that i would 00:14:24.220 --> 00:14:26.670 align:start position:0% of etherium so the thought that i would leave<00:14:24.520> you<00:14:24.730> with<00:14:25.110> today<00:14:26.110> is<00:14:26.140> that<00:14:26.410> we're 00:14:26.670 --> 00:14:26.680 align:start position:0% leave you with today is that we're 00:14:26.680 --> 00:14:29.070 align:start position:0% leave you with today is that we're designing<00:14:26.830> these<00:14:27.280> power<00:14:27.550> structures<00:14:28.060> now<00:14:28.300> in 00:14:29.070 --> 00:14:29.080 align:start position:0% designing these power structures now in 00:14:29.080 --> 00:14:31.830 align:start position:0% designing these power structures now in 20<00:14:29.440> years<00:14:29.590> you<00:14:29.890> will<00:14:29.950> look<00:14:30.190> back<00:14:30.460> at<00:14:31.000> DEFCON<00:14:31.600> 5 00:14:31.830 --> 00:14:31.840 align:start position:0% 20 years you will look back at DEFCON 5 00:14:31.840 --> 00:14:34.680 align:start position:0% 20 years you will look back at DEFCON 5 in<00:14:32.170> japan<00:14:33.040> and<00:14:33.310> the<00:14:33.820> work<00:14:34.150> that<00:14:34.180> we've<00:14:34.450> done<00:14:34.480> in 00:14:34.680 --> 00:14:34.690 align:start position:0% in japan and the work that we've done in 00:14:34.690 --> 00:14:37.710 align:start position:0% in japan and the work that we've done in the<00:14:34.810> etherium<00:14:35.260> space<00:14:35.590> and<00:14:36.390> it'll<00:14:37.390> be<00:14:37.450> shaped 00:14:37.710 --> 00:14:37.720 align:start position:0% the etherium space and it'll be shaped 00:14:37.720 --> 00:14:40.350 align:start position:0% the etherium space and it'll be shaped by<00:14:37.900> the<00:14:38.890> contours<00:14:39.370> of<00:14:39.640> the<00:14:39.970> bull<00:14:40.150> and<00:14:40.270> bear 00:14:40.350 --> 00:14:40.360 align:start position:0% by the contours of the bull and bear 00:14:40.360 --> 00:14:42.720 align:start position:0% by the contours of the bull and bear market<00:14:40.870> and<00:14:41.020> probably<00:14:41.530> by<00:14:42.070> the<00:14:42.130> regulatory 00:14:42.720 --> 00:14:42.730 align:start position:0% market and probably by the regulatory 00:14:42.730 --> 00:14:45.210 align:start position:0% market and probably by the regulatory regimes<00:14:43.390> that<00:14:43.810> we<00:14:43.870> that<00:14:44.650> we<00:14:44.740> go<00:14:44.860> back<00:14:45.040> and 00:14:45.210 --> 00:14:45.220 align:start position:0% regimes that we that we go back and 00:14:45.220 --> 00:14:47.940 align:start position:0% regimes that we that we go back and forth<00:14:45.400> with<00:14:45.930> in<00:14:46.930> our<00:14:47.050> various<00:14:47.380> governments 00:14:47.940 --> 00:14:47.950 align:start position:0% forth with in our various governments 00:14:47.950 --> 00:14:50.190 align:start position:0% forth with in our various governments it'll<00:14:48.520> be<00:14:48.610> shaped<00:14:48.880> by<00:14:49.060> the<00:14:49.210> trade-off<00:14:49.690> between 00:14:50.190 --> 00:14:50.200 align:start position:0% it'll be shaped by the trade-off between 00:14:50.200 --> 00:14:52.800 align:start position:0% it'll be shaped by the trade-off between surveillance<00:14:51.160> the<00:14:51.940> capitalists<00:14:52.450> need<00:14:52.600> to 00:14:52.800 --> 00:14:52.810 align:start position:0% surveillance the capitalists need to 00:14:52.810 --> 00:14:54.420 align:start position:0% surveillance the capitalists need to surveil<00:14:53.140> your<00:14:53.350> users<00:14:53.620> and<00:14:53.800> make<00:14:53.950> money<00:14:54.100> off<00:14:54.220> of 00:14:54.420 --> 00:14:54.430 align:start position:0% surveil your users and make money off of 00:14:54.430 --> 00:14:56.490 align:start position:0% surveil your users and make money off of the<00:14:54.550> data<00:14:54.730> and<00:14:55.030> the<00:14:55.450> fundamental<00:14:55.960> user<00:14:56.200> right 00:14:56.490 --> 00:14:56.500 align:start position:0% the data and the fundamental user right 00:14:56.500 --> 00:14:59.790 align:start position:0% the data and the fundamental user right to<00:14:57.160> have<00:14:57.640> privacy<00:14:58.150> and<00:14:59.140> we're<00:14:59.260> gonna<00:14:59.350> decide 00:14:59.790 --> 00:14:59.800 align:start position:0% to have privacy and we're gonna decide 00:14:59.800 --> 00:15:02.310 align:start position:0% to have privacy and we're gonna decide what<00:14:59.860> kind<00:15:00.370> of<00:15:00.520> network<00:15:00.730> we're<00:15:01.450> building<00:15:01.930> for 00:15:02.310 --> 00:15:02.320 align:start position:0% what kind of network we're building for 00:15:02.320 --> 00:15:04.080 align:start position:0% what kind of network we're building for our<00:15:02.350> networked<00:15:02.830> species<00:15:03.400> what<00:15:03.610> kind<00:15:03.820> of<00:15:03.880> power 00:15:04.080 --> 00:15:04.090 align:start position:0% our networked species what kind of power 00:15:04.090 --> 00:15:06.360 align:start position:0% our networked species what kind of power structures<00:15:04.660> there's<00:15:05.020> going<00:15:05.230> to<00:15:05.410> be<00:15:05.560> is<00:15:05.920> it 00:15:06.360 --> 00:15:06.370 align:start position:0% structures there's going to be is it 00:15:06.370 --> 00:15:08.100 align:start position:0% structures there's going to be is it going<00:15:06.610> to<00:15:06.670> be<00:15:06.790> a<00:15:06.820> one-to-many<00:15:07.210> relationship 00:15:08.100 --> 00:15:08.110 align:start position:0% going to be a one-to-many relationship 00:15:08.110 --> 00:15:10.170 align:start position:0% going to be a one-to-many relationship with<00:15:08.320> power<00:15:08.530> brokers<00:15:09.040> that<00:15:09.310> have<00:15:09.490> monopoly<00:15:10.150> of 00:15:10.170 --> 00:15:10.180 align:start position:0% with power brokers that have monopoly of 00:15:10.180 --> 00:15:13.050 align:start position:0% with power brokers that have monopoly of monopolies<00:15:11.020> over<00:15:11.050> our<00:15:11.560> investment<00:15:12.130> and<00:15:12.310> it 00:15:13.050 --> 00:15:13.060 align:start position:0% monopolies over our investment and it 00:15:13.060 --> 00:15:16.770 align:start position:0% monopolies over our investment and it our<00:15:13.300> employment<00:15:14.200> relationships<00:15:15.390> or<00:15:16.390> will<00:15:16.630> the 00:15:16.770 --> 00:15:16.780 align:start position:0% our employment relationships or will the 00:15:16.780 --> 00:15:18.870 align:start position:0% our employment relationships or will the power<00:15:16.990> be<00:15:17.170> slightly<00:15:17.470> more<00:15:17.710> distributed<00:15:18.280> in<00:15:18.400> an 00:15:18.870 --> 00:15:18.880 align:start position:0% power be slightly more distributed in an 00:15:18.880 --> 00:15:20.700 align:start position:0% power be slightly more distributed in an oligarchical<00:15:19.660> type<00:15:19.930> model<00:15:20.290> where<00:15:20.470> we<00:15:20.590> all 00:15:20.700 --> 00:15:20.710 align:start position:0% oligarchical type model where we all 00:15:20.710 --> 00:15:24.450 align:start position:0% oligarchical type model where we all have<00:15:20.950> local<00:15:22.080> lords<00:15:23.080> that<00:15:23.320> we<00:15:23.440> that<00:15:24.010> we<00:15:24.190> deal 00:15:24.450 --> 00:15:24.460 align:start position:0% have local lords that we that we deal 00:15:24.460 --> 00:15:28.920 align:start position:0% have local lords that we that we deal with<00:15:25.860> in<00:15:26.860> the<00:15:27.010> u.s.<00:15:27.310> we<00:15:28.060> call<00:15:28.330> our<00:15:28.510> system<00:15:28.810> of 00:15:28.920 --> 00:15:28.930 align:start position:0% with in the u.s. we call our system of 00:15:28.930 --> 00:15:31.200 align:start position:0% with in the u.s. we call our system of government<00:15:28.990> a<00:15:29.470> representative<00:15:30.010> democracy<00:15:30.210> in 00:15:31.200 --> 00:15:31.210 align:start position:0% government a representative democracy in 00:15:31.210 --> 00:15:33.510 align:start position:0% government a representative democracy in which<00:15:31.570> we<00:15:31.780> have<00:15:31.960> about<00:15:32.740> a<00:15:32.800> hundred<00:15:32.950> senators 00:15:33.510 --> 00:15:33.520 align:start position:0% which we have about a hundred senators 00:15:33.520 --> 00:15:35.340 align:start position:0% which we have about a hundred senators three<00:15:33.820> hundred<00:15:34.090> something<00:15:34.300> House<00:15:35.140> of 00:15:35.340 --> 00:15:35.350 align:start position:0% three hundred something House of 00:15:35.350 --> 00:15:37.290 align:start position:0% three hundred something House of Representatives<00:15:35.980> that<00:15:36.070> that<00:15:36.670> we<00:15:36.790> differ<00:15:36.970> our 00:15:37.290 --> 00:15:37.300 align:start position:0% Representatives that that we differ our 00:15:37.300 --> 00:15:37.940 align:start position:0% Representatives that that we differ our power<00:15:37.480> to<00:15:37.690> and 00:15:37.940 --> 00:15:37.950 align:start position:0% power to and 00:15:37.950 --> 00:15:40.910 align:start position:0% power to and decision-making<00:15:38.370> power<00:15:39.410> one<00:15:40.410> of<00:15:40.530> the<00:15:40.680> things 00:15:40.910 --> 00:15:40.920 align:start position:0% decision-making power one of the things 00:15:40.920 --> 00:15:43.340 align:start position:0% decision-making power one of the things that<00:15:41.190> I've<00:15:41.310> been<00:15:41.340> sharing<00:15:42.240> ideas<00:15:42.540> with<00:15:43.020> the 00:15:43.340 --> 00:15:43.350 align:start position:0% that I've been sharing ideas with the 00:15:43.350 --> 00:15:45.650 align:start position:0% that I've been sharing ideas with the halls<00:15:43.530> of<00:15:43.710> Def<00:15:43.890> Con<00:15:44.160> and<00:15:44.430> over<00:15:44.910> sake<00:15:45.210> in<00:15:45.600> the 00:15:45.650 --> 00:15:45.660 align:start position:0% halls of Def Con and over sake in the 00:15:45.660 --> 00:15:48.710 align:start position:0% halls of Def Con and over sake in the bars<00:15:46.050> of<00:15:46.350> Def<00:15:46.500> Con<00:15:46.740> has<00:15:46.980> been<00:15:47.850> what<00:15:48.360> would<00:15:48.510> the 00:15:48.710 --> 00:15:48.720 align:start position:0% bars of Def Con has been what would the 00:15:48.720 --> 00:15:50.510 align:start position:0% bars of Def Con has been what would the world<00:15:48.840> look<00:15:48.990> like<00:15:49.320> if<00:15:49.500> we<00:15:49.530> were<00:15:49.650> completely 00:15:50.510 --> 00:15:50.520 align:start position:0% world look like if we were completely 00:15:50.520 --> 00:15:53.570 align:start position:0% world look like if we were completely peer-to-peer<00:15:51.090> network<00:15:52.080> species<00:15:52.680> if<00:15:53.340> there 00:15:53.570 --> 00:15:53.580 align:start position:0% peer-to-peer network species if there 00:15:53.580 --> 00:15:55.430 align:start position:0% peer-to-peer network species if there was<00:15:53.700> government<00:15:54.030> in<00:15:54.330> the<00:15:54.510> financial<00:15:55.020> system 00:15:55.430 --> 00:15:55.440 align:start position:0% was government in the financial system 00:15:55.440 --> 00:15:58.760 align:start position:0% was government in the financial system that<00:15:55.470> was<00:15:55.740> buy<00:15:55.920> of<00:15:56.250> and<00:15:56.700> for<00:15:57.030> the<00:15:57.180> people<00:15:57.540> and<00:15:58.470> I 00:15:58.760 --> 00:15:58.770 align:start position:0% that was buy of and for the people and I 00:15:58.770 --> 00:16:00.230 align:start position:0% that was buy of and for the people and I think<00:15:58.980> that<00:15:59.100> it's<00:15:59.250> really<00:15:59.310> interesting<00:15:59.520> to 00:16:00.230 --> 00:16:00.240 align:start position:0% think that it's really interesting to 00:16:00.240 --> 00:16:01.970 align:start position:0% think that it's really interesting to think<00:16:00.270> about<00:16:00.510> deconstructing<00:16:01.440> jobs<00:16:01.680> and 00:16:01.970 --> 00:16:01.980 align:start position:0% think about deconstructing jobs and 00:16:01.980 --> 00:16:04.660 align:start position:0% think about deconstructing jobs and deconstructing<00:16:02.520> and<00:16:02.640> buyer<00:16:02.910> to<00:16:03.900> constructing 00:16:04.660 --> 00:16:04.670 align:start position:0% deconstructing and buyer to constructing 00:16:04.670 --> 00:16:06.830 align:start position:0% deconstructing and buyer to constructing investments<00:16:05.670> pushing<00:16:06.420> them<00:16:06.570> into<00:16:06.720> a 00:16:06.830 --> 00:16:06.840 align:start position:0% investments pushing them into a 00:16:06.840 --> 00:16:08.750 align:start position:0% investments pushing them into a peer-to-peer<00:16:07.170> network<00:16:07.260> and<00:16:08.070> then<00:16:08.250> rebuilding 00:16:08.750 --> 00:16:08.760 align:start position:0% peer-to-peer network and then rebuilding 00:16:08.760 --> 00:16:11.720 align:start position:0% peer-to-peer network and then rebuilding a<00:16:08.850> financial<00:16:09.300> system<00:16:09.510> on<00:16:10.020> top<00:16:10.350> of<00:16:10.530> that<00:16:10.730> the 00:16:11.720 --> 00:16:11.730 align:start position:0% a financial system on top of that the 00:16:11.730 --> 00:16:13.400 align:start position:0% a financial system on top of that the work<00:16:11.910> that<00:16:12.120> we're<00:16:12.240> doing<00:16:12.330> at<00:16:12.660> git<00:16:12.930> coin<00:16:13.140> is 00:16:13.400 --> 00:16:13.410 align:start position:0% work that we're doing at git coin is 00:16:13.410 --> 00:16:15.770 align:start position:0% work that we're doing at git coin is designed<00:16:13.950> to<00:16:14.250> create<00:16:14.490> peer-to-peer<00:16:14.910> jobs<00:16:15.450> for 00:16:15.770 --> 00:16:15.780 align:start position:0% designed to create peer-to-peer jobs for 00:16:15.780 --> 00:16:18.470 align:start position:0% designed to create peer-to-peer jobs for software<00:16:16.200> developers<00:16:16.890> and<00:16:17.160> this<00:16:17.880> is<00:16:18.060> a<00:16:18.090> real 00:16:18.470 --> 00:16:18.480 align:start position:0% software developers and this is a real 00:16:18.480 --> 00:16:21.200 align:start position:0% software developers and this is a real visualization<00:16:19.470> of<00:16:19.680> what<00:16:20.430> our<00:16:20.610> mesh<00:16:20.820> network 00:16:21.200 --> 00:16:21.210 align:start position:0% visualization of what our mesh network 00:16:21.210 --> 00:16:23.510 align:start position:0% visualization of what our mesh network of<00:16:21.390> jobs<00:16:21.630> looks<00:16:22.320> like<00:16:22.530> you<00:16:23.040> can<00:16:23.190> see<00:16:23.220> that 00:16:23.510 --> 00:16:23.520 align:start position:0% of jobs looks like you can see that 00:16:23.520 --> 00:16:25.220 align:start position:0% of jobs looks like you can see that there<00:16:23.640> are<00:16:23.760> super<00:16:24.000> connectors<00:16:24.600> that<00:16:24.630> are 00:16:25.220 --> 00:16:25.230 align:start position:0% there are super connectors that are 00:16:25.230 --> 00:16:27.590 align:start position:0% there are super connectors that are brokers<00:16:25.980> on<00:16:26.280> the<00:16:26.430> network<00:16:26.730> but<00:16:27.210> you<00:16:27.330> can<00:16:27.450> see 00:16:27.590 --> 00:16:27.600 align:start position:0% brokers on the network but you can see 00:16:27.600 --> 00:16:28.930 align:start position:0% brokers on the network but you can see that<00:16:27.780> there's<00:16:27.900> also<00:16:28.110> a<00:16:28.290> lot<00:16:28.440> of<00:16:28.470> peer-to-peer 00:16:28.930 --> 00:16:28.940 align:start position:0% that there's also a lot of peer-to-peer 00:16:28.940 --> 00:16:33.320 align:start position:0% that there's also a lot of peer-to-peer activity<00:16:29.940> my<00:16:30.930> vision<00:16:31.320> is<00:16:31.470> that<00:16:31.830> we<00:16:32.460> will<00:16:33.180> all 00:16:33.320 --> 00:16:33.330 align:start position:0% activity my vision is that we will all 00:16:33.330 --> 00:16:35.360 align:start position:0% activity my vision is that we will all work<00:16:33.570> for<00:16:33.990> the<00:16:34.110> open<00:16:34.350> Internet<00:16:34.710> one<00:16:34.890> day<00:16:35.100> and 00:16:35.360 --> 00:16:35.370 align:start position:0% work for the open Internet one day and 00:16:35.370 --> 00:16:37.010 align:start position:0% work for the open Internet one day and we'll<00:16:35.550> be<00:16:35.700> able<00:16:35.790> to<00:16:35.910> transact<00:16:36.510> with<00:16:36.780> each 00:16:37.010 --> 00:16:37.020 align:start position:0% we'll be able to transact with each 00:16:37.020 --> 00:16:39.950 align:start position:0% we'll be able to transact with each other<00:16:37.230> support<00:16:37.920> open-source<00:16:38.400> software<00:16:38.640> in<00:16:39.270> in 00:16:39.950 --> 00:16:39.960 align:start position:0% other support open-source software in in 00:16:39.960 --> 00:16:42.080 align:start position:0% other support open-source software in in and<00:16:40.680> support<00:16:41.040> our<00:16:41.130> families<00:16:41.490> by<00:16:41.640> doing<00:16:41.970> that 00:16:42.080 --> 00:16:42.090 align:start position:0% and support our families by doing that 00:16:42.090 --> 00:16:43.730 align:start position:0% and support our families by doing that and<00:16:42.420> one<00:16:42.870> of<00:16:42.960> the<00:16:43.020> things<00:16:43.170> that<00:16:43.320> I<00:16:43.350> try<00:16:43.710> to 00:16:43.730 --> 00:16:43.740 align:start position:0% and one of the things that I try to 00:16:43.740 --> 00:16:45.950 align:start position:0% and one of the things that I try to remember<00:16:44.160> as<00:16:44.310> a<00:16:44.340> design<00:16:44.730> principle<00:16:45.000> at<00:16:45.660> git 00:16:45.950 --> 00:16:45.960 align:start position:0% remember as a design principle at git 00:16:45.960 --> 00:16:48.140 align:start position:0% remember as a design principle at git coin<00:16:46.200> is<00:16:46.440> that<00:16:47.040> these<00:16:47.430> nodes<00:16:47.790> in<00:16:48.000> these 00:16:48.140 --> 00:16:48.150 align:start position:0% coin is that these nodes in these 00:16:48.150 --> 00:16:50.600 align:start position:0% coin is that these nodes in these networks<00:16:48.420> are<00:16:48.930> three-dimensional<00:16:49.860> humans 00:16:50.600 --> 00:16:50.610 align:start position:0% networks are three-dimensional humans 00:16:50.610 --> 00:16:53.180 align:start position:0% networks are three-dimensional humans that<00:16:51.090> have<00:16:51.150> families<00:16:52.080> that<00:16:52.110> have<00:16:52.590> needs<00:16:52.830> that 00:16:53.180 --> 00:16:53.190 align:start position:0% that have families that have needs that 00:16:53.190 --> 00:16:55.070 align:start position:0% that have families that have needs that have<00:16:53.340> their<00:16:53.520> own<00:16:53.640> sets<00:16:53.940> of<00:16:54.060> values<00:16:54.450> that<00:16:54.660> have 00:16:55.070 --> 00:16:55.080 align:start position:0% have their own sets of values that have 00:16:55.080 --> 00:16:58.010 align:start position:0% have their own sets of values that have their<00:16:55.320> own<00:16:55.490> backgrounds<00:16:56.490> and<00:16:57.020> communication 00:16:58.010 --> 00:16:58.020 align:start position:0% their own backgrounds and communication 00:16:58.020 --> 00:17:01.130 align:start position:0% their own backgrounds and communication across<00:16:58.740> the<00:16:59.340> edges<00:16:59.670> of<00:16:59.820> these<00:16:59.940> networks<00:17:00.390> will 00:17:01.130 --> 00:17:01.140 align:start position:0% across the edges of these networks will 00:17:01.140 --> 00:17:05.000 align:start position:0% across the edges of these networks will be<00:17:01.340> fundamentally<00:17:02.340> hard<00:17:03.150> to<00:17:04.079> to<00:17:04.560> facilitate 00:17:05.000 --> 00:17:05.010 align:start position:0% be fundamentally hard to to facilitate 00:17:05.010 --> 00:17:07.640 align:start position:0% be fundamentally hard to to facilitate value<00:17:05.880> because<00:17:06.839> of<00:17:07.020> the<00:17:07.110> communication 00:17:07.640 --> 00:17:07.650 align:start position:0% value because of the communication 00:17:07.650 --> 00:17:10.490 align:start position:0% value because of the communication barriers<00:17:08.040> across<00:17:08.370> this<00:17:08.550> network<00:17:08.760> and<00:17:09.180> we<00:17:10.170> and 00:17:10.490 --> 00:17:10.500 align:start position:0% barriers across this network and we and 00:17:10.500 --> 00:17:11.449 align:start position:0% barriers across this network and we and one<00:17:10.770> of<00:17:10.860> the<00:17:10.949> things<00:17:11.160> that<00:17:11.310> we're<00:17:11.430> really 00:17:11.449 --> 00:17:11.459 align:start position:0% one of the things that we're really 00:17:11.459 --> 00:17:13.310 align:start position:0% one of the things that we're really trying<00:17:11.790> to<00:17:11.910> program<00:17:12.150> into<00:17:12.510> our<00:17:12.600> system<00:17:12.959> is<00:17:13.110> is 00:17:13.310 --> 00:17:13.320 align:start position:0% trying to program into our system is is 00:17:13.320 --> 00:17:15.890 align:start position:0% trying to program into our system is is empathy<00:17:13.829> we're<00:17:14.730> all<00:17:14.880> spending<00:17:15.270> face-to-face 00:17:15.890 --> 00:17:15.900 align:start position:0% empathy we're all spending face-to-face 00:17:15.900 --> 00:17:18.079 align:start position:0% empathy we're all spending face-to-face time<00:17:16.230> with<00:17:16.260> each<00:17:17.040> other<00:17:17.310> this<00:17:17.550> week<00:17:17.790> and<00:17:18.000> we 00:17:18.079 --> 00:17:18.089 align:start position:0% time with each other this week and we 00:17:18.089 --> 00:17:20.060 align:start position:0% time with each other this week and we won't<00:17:18.270> get<00:17:18.510> to<00:17:18.690> do<00:17:18.839> that<00:17:19.050> probably<00:17:19.470> for 00:17:20.060 --> 00:17:20.070 align:start position:0% won't get to do that probably for 00:17:20.070 --> 00:17:23.150 align:start position:0% won't get to do that probably for another<00:17:20.280> year<00:17:20.850> or<00:17:21.060> so<00:17:21.449> and<00:17:21.959> so<00:17:22.380> when<00:17:23.040> you're 00:17:23.150 --> 00:17:23.160 align:start position:0% another year or so and so when you're 00:17:23.160 --> 00:17:24.890 align:start position:0% another year or so and so when you're transacting<00:17:23.790> in<00:17:23.910> this<00:17:24.089> peer-to-peer<00:17:24.360> network 00:17:24.890 --> 00:17:24.900 align:start position:0% transacting in this peer-to-peer network 00:17:24.900 --> 00:17:26.660 align:start position:0% transacting in this peer-to-peer network building<00:17:25.320> in<00:17:25.530> ethical<00:17:26.370> design 00:17:26.660 --> 00:17:26.670 align:start position:0% building in ethical design 00:17:26.670 --> 00:17:28.880 align:start position:0% building in ethical design considerations<00:17:27.390> that<00:17:27.570> remind<00:17:27.990> you<00:17:28.199> that<00:17:28.230> your 00:17:28.880 --> 00:17:28.890 align:start position:0% considerations that remind you that your 00:17:28.890 --> 00:17:30.380 align:start position:0% considerations that remind you that your were<00:17:29.040> transacting<00:17:29.820> with<00:17:29.850> an<00:17:30.060> actual 00:17:30.380 --> 00:17:30.390 align:start position:0% were transacting with an actual 00:17:30.390 --> 00:17:32.030 align:start position:0% were transacting with an actual three-dimensional<00:17:31.110> human<00:17:31.290> will<00:17:31.920> be 00:17:32.030 --> 00:17:32.040 align:start position:0% three-dimensional human will be 00:17:32.040 --> 00:17:34.430 align:start position:0% three-dimensional human will be important<00:17:32.520> because<00:17:33.030> the<00:17:33.630> contours<00:17:34.080> of<00:17:34.170> this 00:17:34.430 --> 00:17:34.440 align:start position:0% important because the contours of this 00:17:34.440 --> 00:17:36.380 align:start position:0% important because the contours of this peer-to-peer<00:17:34.950> financial<00:17:35.730> system<00:17:36.060> that<00:17:36.240> we're 00:17:36.380 --> 00:17:36.390 align:start position:0% peer-to-peer financial system that we're 00:17:36.390 --> 00:17:38.930 align:start position:0% peer-to-peer financial system that we're building<00:17:36.510> are<00:17:37.080> going<00:17:37.620> to<00:17:37.860> be<00:17:38.040> the<00:17:38.430> way<00:17:38.550> value 00:17:38.930 --> 00:17:38.940 align:start position:0% building are going to be the way value 00:17:38.940 --> 00:17:42.260 align:start position:0% building are going to be the way value flows<00:17:39.240> in<00:17:39.690> in<00:17:40.440> this<00:17:41.370> period<00:17:41.670> of<00:17:41.790> here<00:17:42.030> this 00:17:42.260 --> 00:17:42.270 align:start position:0% flows in in this period of here this 00:17:42.270 --> 00:17:44.030 align:start position:0% flows in in this period of here this network<00:17:42.630> species<00:17:43.080> that<00:17:43.350> we're<00:17:43.530> building<00:17:43.620> and 00:17:44.030 --> 00:17:44.040 align:start position:0% network species that we're building and 00:17:44.040 --> 00:17:46.190 align:start position:0% network species that we're building and we<00:17:44.460> can<00:17:44.610> always<00:17:44.910> choose<00:17:45.150> between<00:17:45.570> building 00:17:46.190 --> 00:17:46.200 align:start position:0% we can always choose between building 00:17:46.200 --> 00:17:49.880 align:start position:0% we can always choose between building something<00:17:46.470> that<00:17:47.480> that<00:17:48.480> enriches<00:17:49.380> ourselves 00:17:49.880 --> 00:17:49.890 align:start position:0% something that that enriches ourselves 00:17:49.890 --> 00:17:51.340 align:start position:0% something that that enriches ourselves at<00:17:50.190> the<00:17:50.520> expense 00:17:51.340 --> 00:17:51.350 align:start position:0% at the expense 00:17:51.350 --> 00:17:52.900 align:start position:0% at the expense of<00:17:51.410> others<00:17:51.650> and<00:17:51.860> building<00:17:52.490> something<00:17:52.730> that 00:17:52.900 --> 00:17:52.910 align:start position:0% of others and building something that 00:17:52.910 --> 00:17:55.299 align:start position:0% of others and building something that climbs<00:17:53.299> both<00:17:53.539> hills<00:17:53.809> at<00:17:54.169> once<00:17:54.470> and<00:17:55.130> we're 00:17:55.299 --> 00:17:55.309 align:start position:0% climbs both hills at once and we're 00:17:55.309 --> 00:17:57.100 align:start position:0% climbs both hills at once and we're doing<00:17:55.520> this<00:17:55.640> all<00:17:55.820> collectively<00:17:56.450> in<00:17:56.900> the 00:17:57.100 --> 00:17:57.110 align:start position:0% doing this all collectively in the 00:17:57.110 --> 00:17:59.740 align:start position:0% doing this all collectively in the etherium<00:17:57.590> space<00:17:57.919> when<00:17:58.580> we<00:17:58.700> build<00:17:58.910> the 00:17:59.740 --> 00:17:59.750 align:start position:0% etherium space when we build the 00:17:59.750 --> 00:18:02.200 align:start position:0% etherium space when we build the etherium<00:18:00.230> OS<00:18:00.549> which<00:18:01.549> I've<00:18:01.730> started<00:18:01.850> to 00:18:02.200 --> 00:18:02.210 align:start position:0% etherium OS which I've started to 00:18:02.210 --> 00:18:04.779 align:start position:0% etherium OS which I've started to conceptualize<00:18:02.870> as<00:18:03.250> the<00:18:04.250> operating<00:18:04.669> system 00:18:04.779 --> 00:18:04.789 align:start position:0% conceptualize as the operating system 00:18:04.789 --> 00:18:08.529 align:start position:0% conceptualize as the operating system for<00:18:05.750> a<00:18:06.110> new<00:18:06.350> financial<00:18:06.650> system<00:18:07.010> and<00:18:07.730> then<00:18:08.210> the 00:18:08.529 --> 00:18:08.539 align:start position:0% for a new financial system and then the 00:18:08.539 --> 00:18:10.810 align:start position:0% for a new financial system and then the DAP<00:18:08.750> store<00:18:09.110> that<00:18:09.590> we're<00:18:09.799> building<00:18:10.190> on<00:18:10.400> top<00:18:10.760> of 00:18:10.810 --> 00:18:10.820 align:start position:0% DAP store that we're building on top of 00:18:10.820 --> 00:18:12.970 align:start position:0% DAP store that we're building on top of this<00:18:11.210> new<00:18:11.419> financial<00:18:11.870> system<00:18:12.080> which<00:18:12.650> includes 00:18:12.970 --> 00:18:12.980 align:start position:0% this new financial system which includes 00:18:12.980 --> 00:18:15.279 align:start position:0% this new financial system which includes things<00:18:13.669> like<00:18:13.850> Dallas<00:18:14.390> which<00:18:14.630> includes<00:18:15.020> things 00:18:15.279 --> 00:18:15.289 align:start position:0% things like Dallas which includes things 00:18:15.289 --> 00:18:17.440 align:start position:0% things like Dallas which includes things like<00:18:15.470> peer-to-peer<00:18:15.890> jobs<00:18:16.460> which<00:18:17.000> includes 00:18:17.440 --> 00:18:17.450 align:start position:0% like peer-to-peer jobs which includes 00:18:17.450 --> 00:18:19.480 align:start position:0% like peer-to-peer jobs which includes your<00:18:17.630> investments<00:18:18.260> and<00:18:18.470> probably<00:18:19.010> many<00:18:19.190> more 00:18:19.480 --> 00:18:19.490 align:start position:0% your investments and probably many more 00:18:19.490 --> 00:18:23.740 align:start position:0% your investments and probably many more things<00:18:19.820> by<00:18:20.120> DEFCON<00:18:20.630> six<00:18:20.990> I<00:18:22.240> get<00:18:23.240> coin<00:18:23.480> our 00:18:23.740 --> 00:18:23.750 align:start position:0% things by DEFCON six I get coin our 00:18:23.750 --> 00:18:25.990 align:start position:0% things by DEFCON six I get coin our mission<00:18:24.260> is<00:18:24.500> to<00:18:24.559> grow<00:18:25.070> and<00:18:25.220> sustain<00:18:25.400> open 00:18:25.990 --> 00:18:26.000 align:start position:0% mission is to grow and sustain open 00:18:26.000 --> 00:18:28.360 align:start position:0% mission is to grow and sustain open source<00:18:26.270> software<00:18:26.559> we<00:18:27.559> believe<00:18:27.919> that<00:18:28.220> open 00:18:28.360 --> 00:18:28.370 align:start position:0% source software we believe that open 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and<00:18:35.510> that<00:18:35.870> they<00:18:36.679> don't<00:18:36.860> get<00:18:37.070> to<00:18:37.159> capture<00:18:37.520> as 00:18:37.630 --> 00:18:37.640 align:start position:0% and that they don't get to capture as 00:18:37.640 --> 00:18:40.659 align:start position:0% and that they don't get to capture as much<00:18:37.820> value<00:18:38.030> as<00:18:38.270> as<00:18:39.140> they<00:18:39.500> as<00:18:39.799> they<00:18:40.039> create<00:18:40.309> and 00:18:40.659 --> 00:18:40.669 align:start position:0% much value as as they as they create and 00:18:40.669 --> 00:18:42.610 align:start position:0% much value as as they as they create and so<00:18:41.000> we're<00:18:41.120> fundamentally<00:18:41.720> trying<00:18:41.929> to<00:18:42.200> create 00:18:42.610 --> 00:18:42.620 align:start position:0% so we're fundamentally trying to create 00:18:42.620 --> 00:18:44.500 align:start position:0% so we're fundamentally trying to create a<00:18:42.860> better<00:18:43.190> world<00:18:43.429> for<00:18:43.610> software<00:18:44.120> engineers 00:18:44.500 --> 00:18:44.510 align:start position:0% a better world for software engineers 00:18:44.510 --> 00:18:45.700 align:start position:0% a better world for software engineers and<00:18:44.809> trying<00:18:45.080> to<00:18:45.140> create<00:18:45.289> a<00:18:45.380> world<00:18:45.559> where 00:18:45.700 --> 00:18:45.710 align:start position:0% and trying to create a world where 00:18:45.710 --> 00:18:48.190 align:start position:0% and trying to create a world where software<00:18:46.610> developers<00:18:47.120> work<00:18:47.600> just<00:18:47.960> for<00:18:48.110> the 00:18:48.190 --> 00:18:48.200 align:start position:0% software developers work just for the 00:18:48.200 --> 00:18:50.680 align:start position:0% software developers work just for the internet<00:18:48.530> I'm<00:18:49.130> really<00:18:49.700> lucky<00:18:49.880> to<00:18:50.179> be<00:18:50.299> working 00:18:50.680 --> 00:18:50.690 align:start position:0% internet I'm really lucky to be working 00:18:50.690 --> 00:18:53.770 align:start position:0% internet I'm really lucky to be working on<00:18:50.780> a<00:18:50.809> use<00:18:51.049> case<00:18:51.350> that<00:18:52.190> has<00:18:52.760> highly<00:18:53.270> technical 00:18:53.770 --> 00:18:53.780 align:start position:0% on a use case that has highly technical 00:18:53.780 --> 00:18:57.190 align:start position:0% on a use case that has highly technical people<00:18:53.990> in<00:18:54.760> involved<00:18:55.760> in<00:18:55.970> the<00:18:56.539> transactions 00:18:57.190 --> 00:18:57.200 align:start position:0% people in involved in the transactions 00:18:57.200 --> 00:18:58.870 align:start position:0% people in involved in the transactions that<00:18:57.409> we're<00:18:57.590> creating<00:18:57.830> because<00:18:58.400> they'll<00:18:58.760> get 00:18:58.870 --> 00:18:58.880 align:start position:0% that we're creating because they'll get 00:18:58.880 --> 00:19:02.230 align:start position:0% that we're creating because they'll get through<00:18:59.150> the<00:18:59.990> barriers<00:19:00.770> of<00:19:01.100> signing<00:19:01.909> metamath 00:19:02.230 --> 00:19:02.240 align:start position:0% through the barriers of signing metamath 00:19:02.240 --> 00:19:04.899 align:start position:0% through the barriers of signing metamath transactions<00:19:02.990> of<00:19:03.320> getting<00:19:03.710> gas<00:19:04.039> of<00:19:04.429> figuring 00:19:04.899 --> 00:19:04.909 align:start position:0% transactions of getting gas of figuring 00:19:04.909 --> 00:19:06.490 align:start position:0% transactions of getting gas of figuring out<00:19:05.000> how<00:19:05.210> to<00:19:05.240> resubmit<00:19:05.750> their<00:19:05.870> transactions 00:19:06.490 --> 00:19:06.500 align:start position:0% out how to resubmit their transactions 00:19:06.500 --> 00:19:09.490 align:start position:0% out how to resubmit their transactions on<00:19:06.740> on<00:19:07.640> meta<00:19:08.179> masks<00:19:08.419> when<00:19:08.630> the<00:19:08.780> gas<00:19:08.929> network<00:19:09.200> is 00:19:09.490 --> 00:19:09.500 align:start position:0% on on meta masks when the gas network is 00:19:09.500 --> 00:19:11.710 align:start position:0% on on meta masks when the gas network is clogged<00:19:09.770> but<00:19:09.950> we<00:19:10.070> all<00:19:10.250> have<00:19:10.490> a<00:19:10.520> lot<00:19:10.700> of<00:19:10.850> work<00:19:11.030> to 00:19:11.710 --> 00:19:11.720 align:start position:0% clogged but we all have a lot of work to 00:19:11.720 --> 00:19:14.799 align:start position:0% clogged but we all have a lot of work to do<00:19:11.929> as<00:19:12.230> a<00:19:13.070> community<00:19:13.309> to<00:19:14.150> make<00:19:14.179> sure<00:19:14.360> that<00:19:14.510> the 00:19:14.799 --> 00:19:14.809 align:start position:0% do as a community to make sure that the 00:19:14.809 --> 00:19:17.279 align:start position:0% do as a community to make sure that the most<00:19:15.049> essential<00:19:15.470> is<00:19:15.770> a<00:19:15.919> decentralized<00:19:16.880> chain 00:19:17.279 --> 00:19:17.289 align:start position:0% most essential is a decentralized chain 00:19:17.289 --> 00:19:19.750 align:start position:0% most essential is a decentralized chain that's<00:19:18.289> out<00:19:18.470> there<00:19:18.679> is<00:19:18.950> the<00:19:19.340> one<00:19:19.460> that's<00:19:19.610> the 00:19:19.750 --> 00:19:19.760 align:start position:0% that's out there is the one that's the 00:19:19.760 --> 00:19:21.850 align:start position:0% that's out there is the one that's the most<00:19:19.850> transacted<00:19:20.750> and<00:19:20.960> I<00:19:21.289> hope<00:19:21.500> that<00:19:21.710> when 00:19:21.850 --> 00:19:21.860 align:start position:0% most transacted and I hope that when 00:19:21.860 --> 00:19:23.649 align:start position:0% most transacted and I hope that when you're<00:19:21.950> building<00:19:22.190> the<00:19:22.970> new<00:19:23.120> financial<00:19:23.510> system 00:19:23.649 --> 00:19:23.659 align:start position:0% you're building the new financial system 00:19:23.659 --> 00:19:26.380 align:start position:0% you're building the new financial system you'll<00:19:24.230> remember<00:19:24.530> the<00:19:25.100> rich<00:19:25.520> history<00:19:25.789> that 00:19:26.380 --> 00:19:26.390 align:start position:0% you'll remember the rich history that 00:19:26.390 --> 00:19:29.740 align:start position:0% you'll remember the rich history that comes<00:19:26.960> from<00:19:27.799> the<00:19:28.340> open<00:19:28.789> source<00:19:29.059> and<00:19:29.330> free 00:19:29.740 --> 00:19:29.750 align:start position:0% comes from the open source and free 00:19:29.750 --> 00:19:31.600 align:start position:0% comes from the open source and free software<00:19:29.830> movements<00:19:30.830> because<00:19:31.400> we're 00:19:31.600 --> 00:19:31.610 align:start position:0% software movements because we're 00:19:31.610 --> 00:19:33.039 align:start position:0% software movements because we're building<00:19:31.880> the<00:19:32.179> future<00:19:32.480> of<00:19:32.630> our<00:19:32.720> networked 00:19:33.039 --> 00:19:33.049 align:start position:0% building the future of our networked 00:19:33.049 --> 00:19:35.810 align:start position:0% building the future of our networked species<00:19:33.559> thank<00:19:34.429> you<00:19:34.549> very<00:19:34.700> much 00:19:35.810 --> 00:19:35.820 align:start position:0% species thank you very much 00:19:35.820 --> 00:19:44.930 align:start position:0% species thank you very much [Applause] 00:19:44.930 --> 00:19:44.940 align:start position:0% 00:19:44.940 --> 00:19:47.000 align:start position:0% you