WEBVTT Kind: captions Language: en 00:00:05.070 --> 00:00:14.910 align:start position:0% [Music] 00:00:14.910 --> 00:00:14.920 align:start position:0% 00:00:14.920 --> 00:00:18.510 align:start position:0% [Music] 00:00:18.510 --> 00:00:18.520 align:start position:0% 00:00:18.520 --> 00:00:21.630 align:start position:0% hi<00:00:18.640> everyone<00:00:19.240> uh<00:00:19.760> before<00:00:19.960> we<00:00:20.119> start<00:00:20.800> um<00:00:21.359> I<00:00:21.480> am 00:00:21.630 --> 00:00:21.640 align:start position:0% hi everyone uh before we start um I am 00:00:21.640 --> 00:00:24.470 align:start position:0% hi everyone uh before we start um I am Simon<00:00:21.960> delier<00:00:22.960> I<00:00:23.519> am<00:00:23.599> a<00:00:23.720> developer<00:00:24.119> at 00:00:24.470 --> 00:00:24.480 align:start position:0% Simon delier I am a developer at 00:00:24.480 --> 00:00:27.029 align:start position:0% Simon delier I am a developer at consensus<00:00:25.480> um<00:00:25.640> I've<00:00:25.840> also<00:00:26.039> been<00:00:26.400> uh<00:00:26.599> writing<00:00:26.920> a 00:00:27.029 --> 00:00:27.039 align:start position:0% consensus um I've also been uh writing a 00:00:27.039 --> 00:00:28.990 align:start position:0% consensus um I've also been uh writing a book<00:00:27.279> about<00:00:27.480> blockchain<00:00:27.880> technology<00:00:28.279> for<00:00:28.480> the 00:00:28.990 --> 00:00:29.000 align:start position:0% book about blockchain technology for the 00:00:29.000 --> 00:00:30.910 align:start position:0% book about blockchain technology for the for<00:00:29.199> the<00:00:29.400> past<00:00:29.640> month 00:00:30.910 --> 00:00:30.920 align:start position:0% for the past month 00:00:30.920 --> 00:00:34.190 align:start position:0% for the past month um<00:00:31.920> sorry<00:00:32.200> not<00:00:32.439> past<00:00:32.640> month<00:00:33.000> more<00:00:33.160> than<00:00:33.280> a<00:00:33.440> year 00:00:34.190 --> 00:00:34.200 align:start position:0% um sorry not past month more than a year 00:00:34.200 --> 00:00:36.389 align:start position:0% um sorry not past month more than a year um<00:00:34.440> and<00:00:34.559> I'm<00:00:34.680> still<00:00:34.879> busy<00:00:35.120> with<00:00:35.280> that<00:00:35.960> and<00:00:36.239> um 00:00:36.389 --> 00:00:36.399 align:start position:0% um and I'm still busy with that and um 00:00:36.399 --> 00:00:37.510 align:start position:0% um and I'm still busy with that and um tokens<00:00:36.760> are<00:00:36.879> one<00:00:37.000> of<00:00:37.079> the<00:00:37.160> things<00:00:37.399> I'm 00:00:37.510 --> 00:00:37.520 align:start position:0% tokens are one of the things I'm 00:00:37.520 --> 00:00:39.030 align:start position:0% tokens are one of the things I'm focusing<00:00:37.840> on<00:00:38.160> which<00:00:38.360> I<00:00:38.480> think<00:00:38.680> is<00:00:38.840> very 00:00:39.030 --> 00:00:39.040 align:start position:0% focusing on which I think is very 00:00:39.040 --> 00:00:42.590 align:start position:0% focusing on which I think is very important<00:00:39.920> because<00:00:40.120> the<00:00:40.280> timing<00:00:41.440> is<00:00:42.440> right 00:00:42.590 --> 00:00:42.600 align:start position:0% important because the timing is right 00:00:42.600 --> 00:00:44.470 align:start position:0% important because the timing is right for<00:00:42.800> this<00:00:42.960> so<00:00:43.120> I'm<00:00:43.239> going<00:00:43.360> to<00:00:44.079> talk<00:00:44.239> about 00:00:44.470 --> 00:00:44.480 align:start position:0% for this so I'm going to talk about 00:00:44.480 --> 00:00:47.350 align:start position:0% for this so I'm going to talk about tokens<00:00:44.920> token<00:00:45.360> standards<00:00:46.360> and<00:00:46.559> then<00:00:46.960> um<00:00:47.199> what 00:00:47.350 --> 00:00:47.360 align:start position:0% tokens token standards and then um what 00:00:47.360 --> 00:00:51.430 align:start position:0% tokens token standards and then um what you<00:00:47.440> can<00:00:47.600> use<00:00:47.800> tokens<00:00:48.280> for<00:00:49.640> um<00:00:50.640> uh<00:00:50.960> I<00:00:51.039> had<00:00:51.199> an 00:00:51.430 --> 00:00:51.440 align:start position:0% you can use tokens for um uh I had an 00:00:51.440 --> 00:00:53.630 align:start position:0% you can use tokens for um uh I had an accident<00:00:51.840> with<00:00:52.000> my<00:00:52.359> laptop<00:00:52.840> last<00:00:53.039> night<00:00:53.399> we 00:00:53.630 --> 00:00:53.640 align:start position:0% accident with my laptop last night we 00:00:53.640 --> 00:00:55.709 align:start position:0% accident with my laptop last night we had<00:00:53.800> some<00:00:54.000> wine<00:00:54.199> so<00:00:54.320> I<00:00:54.399> spilled<00:00:54.719> over<00:00:54.920> it<00:00:55.440> so<00:00:55.640> I 00:00:55.709 --> 00:00:55.719 align:start position:0% had some wine so I spilled over it so I 00:00:55.719 --> 00:00:58.029 align:start position:0% had some wine so I spilled over it so I don't<00:00:55.879> have<00:00:56.039> my<00:00:56.239> laptop<00:00:56.600> with<00:00:56.719> me<00:00:56.879> anymore<00:00:57.719> but 00:00:58.029 --> 00:00:58.039 align:start position:0% don't have my laptop with me anymore but 00:00:58.039 --> 00:01:00.229 align:start position:0% don't have my laptop with me anymore but uh<00:00:58.600> then<00:00:58.760> I<00:00:58.920> decided<00:00:59.280> also<00:00:59.600> thought<00:01:00.000> that<00:01:00.120> the 00:01:00.229 --> 00:01:00.239 align:start position:0% uh then I decided also thought that the 00:01:00.239 --> 00:01:03.029 align:start position:0% uh then I decided also thought that the Wi-Fi<00:01:00.559> would<00:01:00.760> be<00:01:00.920> fine<00:01:01.440> but<00:01:01.600> it's<00:01:01.800> not<00:01:02.559> so<00:01:02.879> the 00:01:03.029 --> 00:01:03.039 align:start position:0% Wi-Fi would be fine but it's not so the 00:01:03.039 --> 00:01:04.590 align:start position:0% Wi-Fi would be fine but it's not so the the<00:01:03.120> slides<00:01:03.440> might<00:01:03.600> be<00:01:03.760> a<00:01:03.840> bit<00:01:04.040> behind<00:01:04.320> and<00:01:04.479> a 00:01:04.590 --> 00:01:04.600 align:start position:0% the slides might be a bit behind and a 00:01:04.600 --> 00:01:08.350 align:start position:0% the slides might be a bit behind and a bit<00:01:04.760> slow<00:01:05.680> um<00:01:06.000> so<00:01:06.880> why<00:01:07.040> are<00:01:07.240> tokens<00:01:07.799> important 00:01:08.350 --> 00:01:08.360 align:start position:0% bit slow um so why are tokens important 00:01:08.360 --> 00:01:10.830 align:start position:0% bit slow um so why are tokens important at<00:01:08.520> this<00:01:08.640> point<00:01:08.840> in<00:01:09.040> time<00:01:09.520> it's<00:01:09.759> because<00:01:10.240> um 00:01:10.830 --> 00:01:10.840 align:start position:0% at this point in time it's because um 00:01:10.840 --> 00:01:14.550 align:start position:0% at this point in time it's because um soon<00:01:11.479> and<00:01:11.640> it<00:01:12.119> it<00:01:12.240> has<00:01:12.400> already<00:01:12.960> started<00:01:13.960> um<00:01:14.360> is 00:01:14.550 --> 00:01:14.560 align:start position:0% soon and it it has already started um is 00:01:14.560 --> 00:01:16.390 align:start position:0% soon and it it has already started um is that<00:01:15.040> when<00:01:15.159> you<00:01:15.240> see<00:01:15.439> the<00:01:15.560> next<00:01:15.759> picture<00:01:16.280> you 00:01:16.390 --> 00:01:16.400 align:start position:0% that when you see the next picture you 00:01:16.400 --> 00:01:18.350 align:start position:0% that when you see the next picture you will<00:01:16.560> see<00:01:17.240> that<00:01:17.479> this<00:01:17.560> is<00:01:17.759> what's<00:01:18.000> pretty<00:01:18.200> much 00:01:18.350 --> 00:01:18.360 align:start position:0% will see that this is what's pretty much 00:01:18.360 --> 00:01:21.030 align:start position:0% will see that this is what's pretty much going<00:01:18.479> to<00:01:18.640> happen<00:01:19.080> soon<00:01:19.400> and<00:01:19.600> is<00:01:19.840> happening<00:01:20.840> um 00:01:21.030 --> 00:01:21.040 align:start position:0% going to happen soon and is happening um 00:01:21.040 --> 00:01:23.350 align:start position:0% going to happen soon and is happening um no<00:01:21.320> there<00:01:21.439> aren't<00:01:21.759> tokens<00:01:22.079> under<00:01:22.280> your<00:01:22.479> seats 00:01:23.350 --> 00:01:23.360 align:start position:0% no there aren't tokens under your seats 00:01:23.360 --> 00:01:24.910 align:start position:0% no there aren't tokens under your seats that<00:01:23.560> would<00:01:23.720> have<00:01:23.799> been<00:01:24.040> great<00:01:24.720> but 00:01:24.910 --> 00:01:24.920 align:start position:0% that would have been great but 00:01:24.920 --> 00:01:26.469 align:start position:0% that would have been great but everyone's<00:01:25.240> going<00:01:25.320> to<00:01:25.479> get<00:01:25.560> a<00:01:25.720> token<00:01:26.240> people 00:01:26.469 --> 00:01:26.479 align:start position:0% everyone's going to get a token people 00:01:26.479 --> 00:01:28.590 align:start position:0% everyone's going to get a token people are<00:01:26.680> going<00:01:26.840> to<00:01:26.960> Min<00:01:27.240> tokens<00:01:27.520> for<00:01:27.720> everything 00:01:28.590 --> 00:01:28.600 align:start position:0% are going to Min tokens for everything 00:01:28.600 --> 00:01:30.429 align:start position:0% are going to Min tokens for everything so<00:01:28.799> what<00:01:28.960> are<00:01:29.200> tokens<00:01:29.759> why<00:01:29.920> why<00:01:30.000> do<00:01:30.119> we<00:01:30.240> care 00:01:30.429 --> 00:01:30.439 align:start position:0% so what are tokens why why do we care 00:01:30.439 --> 00:01:32.429 align:start position:0% so what are tokens why why do we care about<00:01:30.680> it<00:01:31.320> there<00:01:31.439> are<00:01:31.600> several<00:01:31.920> reasons<00:01:32.320> why 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describe tokens as assets 00:01:40.439 --> 00:01:42.830 align:start position:0% you can describe tokens as assets digital<00:01:40.759> assets<00:01:41.040> and<00:01:41.159> so<00:01:41.399> forth<00:01:42.159> I<00:01:42.320> like 00:01:42.830 --> 00:01:42.840 align:start position:0% digital assets and so forth I like 00:01:42.840 --> 00:01:44.670 align:start position:0% digital assets and so forth I like personally<00:01:43.240> I<00:01:43.360> like<00:01:43.479> to<00:01:43.600> use<00:01:43.759> the<00:01:43.880> words<00:01:44.119> funga 00:01:44.670 --> 00:01:44.680 align:start position:0% personally I like to use the words funga 00:01:44.680 --> 00:01:48.429 align:start position:0% personally I like to use the words funga bles<00:01:45.680> that's<00:01:45.880> not<00:01:46.000> a<00:01:46.119> fungible<00:01:46.719> that's<00:01:46.840> a<00:01:47.560> fun 00:01:48.429 --> 00:01:48.439 align:start position:0% bles that's not a fungible that's a fun 00:01:48.439 --> 00:01:50.389 align:start position:0% bles that's not a fungible that's a fun Geral 00:01:50.389 --> 00:01:50.399 align:start position:0% Geral 00:01:50.399 --> 00:01:53.030 align:start position:0% Geral um<00:01:51.399> um<00:01:51.719> but<00:01:52.280> if<00:01:52.399> you<00:01:52.479> want<00:01:52.600> to<00:01:52.719> know<00:01:52.840> what<00:01:52.960> a 00:01:53.030 --> 00:01:53.040 align:start position:0% um um but if you want to know what a 00:01:53.040 --> 00:01:55.389 align:start position:0% um um but if you want to know what a fungible<00:01:53.600> is<00:01:54.200> it's 00:01:55.389 --> 00:01:55.399 align:start position:0% fungible is it's 00:01:55.399 --> 00:01:57.830 align:start position:0% fungible is it's a<00:01:56.399> something<00:01:56.799> that's<00:01:57.079> of<00:01:57.240> the<00:01:57.360> nature<00:01:57.600> of<00:01:57.719> a 00:01:57.830 --> 00:01:57.840 align:start position:0% a something that's of the nature of a 00:01:57.840 --> 00:01:59.310 align:start position:0% a something that's of the nature of a kind<00:01:58.039> to<00:01:58.159> be<00:01:58.280> freely<00:01:58.640> exchangeable 00:01:59.310 --> 00:01:59.320 align:start position:0% kind to be freely exchangeable 00:01:59.320 --> 00:02:01.830 align:start position:0% kind to be freely exchangeable replaceable<00:02:00.000> inho<00:02:00.240> whole<00:02:00.880> in<00:02:01.039> part<00:02:01.280> for<00:02:01.560> any 00:02:01.830 --> 00:02:01.840 align:start position:0% replaceable inho whole in part for any 00:02:01.840 --> 00:02:04.389 align:start position:0% replaceable inho whole in part for any like<00:02:02.240> nature<00:02:02.560> of<00:02:02.799> kind<00:02:03.399> and<00:02:03.560> fundability<00:02:04.039> is<00:02:04.280> a 00:02:04.389 --> 00:02:04.399 align:start position:0% like nature of kind and fundability is a 00:02:04.399 --> 00:02:06.429 align:start position:0% like nature of kind and fundability is a property<00:02:04.680> of<00:02:04.759> a<00:02:04.880> Goods<00:02:05.280> commodity<00:02:05.799> whose 00:02:06.429 --> 00:02:06.439 align:start position:0% property of a Goods commodity whose 00:02:06.439 --> 00:02:09.510 align:start position:0% property of a Goods commodity whose individual<00:02:07.439> units<00:02:08.039> are<00:02:08.280> capable<00:02:08.720> of<00:02:08.920> mutual 00:02:09.510 --> 00:02:09.520 align:start position:0% individual units are capable of mutual 00:02:09.520 --> 00:02:12.190 align:start position:0% individual units are capable of mutual substitution<00:02:10.520> so<00:02:11.200> that's<00:02:11.440> just<00:02:11.800> basically 00:02:12.190 --> 00:02:12.200 align:start position:0% substitution so that's just basically 00:02:12.200 --> 00:02:14.110 align:start position:0% substitution so that's just basically fancy<00:02:12.599> speak<00:02:12.879> for<00:02:13.080> saying<00:02:13.560> you<00:02:13.640> can<00:02:13.800> trade 00:02:14.110 --> 00:02:14.120 align:start position:0% fancy speak for saying you can trade 00:02:14.120 --> 00:02:16.030 align:start position:0% fancy speak for saying you can trade things<00:02:14.360> around<00:02:15.080> and<00:02:15.239> you<00:02:15.319> can<00:02:15.480> measure<00:02:15.920> the 00:02:16.030 --> 00:02:16.040 align:start position:0% things around and you can measure the 00:02:16.040 --> 00:02:18.910 align:start position:0% things around and you can measure the amount<00:02:16.280> of<00:02:16.400> units<00:02:16.760> you<00:02:16.959> have<00:02:17.120> for<00:02:17.440> something 00:02:18.910 --> 00:02:18.920 align:start position:0% amount of units you have for something 00:02:18.920 --> 00:02:22.030 align:start position:0% amount of units you have for something so<00:02:19.920> um<00:02:20.080> when<00:02:20.200> you<00:02:20.319> think<00:02:20.480> of<00:02:20.640> tokens<00:02:21.640> uh<00:02:21.800> people 00:02:22.030 --> 00:02:22.040 align:start position:0% so um when you think of tokens uh people 00:02:22.040 --> 00:02:23.470 align:start position:0% so um when you think of tokens uh people often<00:02:22.280> think<00:02:22.480> that<00:02:22.599> it's<00:02:22.720> s<00:02:22.879> of<00:02:23.040> worthless 00:02:23.470 --> 00:02:23.480 align:start position:0% often think that it's s of worthless 00:02:23.480 --> 00:02:25.509 align:start position:0% often think that it's s of worthless play<00:02:23.680> money<00:02:24.080> but<00:02:24.280> we<00:02:24.440> use<00:02:24.720> tokens<00:02:25.040> in<00:02:25.239> almost 00:02:25.509 --> 00:02:25.519 align:start position:0% play money but we use tokens in almost 00:02:25.519 --> 00:02:27.830 align:start position:0% play money but we use tokens in almost every<00:02:25.800> facets<00:02:26.120> of<00:02:26.239> Our<00:02:26.440> Lives<00:02:27.040> we<00:02:27.160> use<00:02:27.480> tokens 00:02:27.830 --> 00:02:27.840 align:start position:0% every facets of Our Lives we use tokens 00:02:27.840 --> 00:02:30.190 align:start position:0% every facets of Our Lives we use tokens as<00:02:28.080> coins<00:02:28.640> currencies<00:02:29.560> we<00:02:29.680> think<00:02:29.920> think<00:02:30.080> about 00:02:30.190 --> 00:02:30.200 align:start position:0% as coins currencies we think think about 00:02:30.200 --> 00:02:32.550 align:start position:0% as coins currencies we think think about it<00:02:30.319> as<00:02:30.480> shares<00:02:30.800> or<00:02:31.040> equity<00:02:31.360> and<00:02:31.599> things<00:02:32.280> um<00:02:32.480> it 00:02:32.550 --> 00:02:32.560 align:start position:0% it as shares or equity and things um it 00:02:32.560 --> 00:02:34.390 align:start position:0% it as shares or equity and things um it can<00:02:32.720> be<00:02:32.920> prediction<00:02:33.319> Market<00:02:33.680> outcomes<00:02:34.120> it<00:02:34.239> can 00:02:34.390 --> 00:02:34.400 align:start position:0% can be prediction Market outcomes it can 00:02:34.400 --> 00:02:36.630 align:start position:0% can be prediction Market outcomes it can be<00:02:34.920> used<00:02:35.200> in<00:02:35.400> energy<00:02:35.720> meters<00:02:36.040> to<00:02:36.200> represent 00:02:36.630 --> 00:02:36.640 align:start position:0% be used in energy meters to represent 00:02:36.640 --> 00:02:40.350 align:start position:0% be used in energy meters to represent Energy<00:02:37.080> hours<00:02:37.519> tickets<00:02:38.040> access<00:02:38.480> tokens<00:02:39.480> etc 00:02:40.350 --> 00:02:40.360 align:start position:0% Energy hours tickets access tokens etc 00:02:40.360 --> 00:02:42.830 align:start position:0% Energy hours tickets access tokens etc etc<00:02:40.879> so<00:02:41.319> it<00:02:41.480> can<00:02:41.760> it<00:02:41.879> can<00:02:42.040> represent<00:02:42.519> almost 00:02:42.830 --> 00:02:42.840 align:start position:0% etc so it can it can represent almost 00:02:42.840 --> 00:02:45.229 align:start position:0% etc so it can it can represent almost anything<00:02:43.440> and<00:02:43.920> the<00:02:44.040> reason<00:02:44.400> why<00:02:44.680> the<00:02:44.840> talk<00:02:45.120> is 00:02:45.229 --> 00:02:45.239 align:start position:0% anything and the reason why the talk is 00:02:45.239 --> 00:02:47.030 align:start position:0% anything and the reason why the talk is important<00:02:45.680> at<00:02:45.879> this<00:02:46.040> point<00:02:46.200> in<00:02:46.400> time<00:02:46.800> because 00:02:47.030 --> 00:02:47.040 align:start position:0% important at this point in time because 00:02:47.040 --> 00:02:49.149 align:start position:0% important at this point in time because this<00:02:47.159> is<00:02:47.280> the<00:02:47.440> first<00:02:47.720> thing<00:02:48.000> that<00:02:48.640> um<00:02:48.840> a<00:02:48.920> lot<00:02:49.080> of 00:02:49.149 --> 00:02:49.159 align:start position:0% this is the first thing that um a lot of 00:02:49.159 --> 00:02:50.470 align:start position:0% this is the first thing that um a lot of people<00:02:49.360> are<00:02:49.440> going<00:02:49.560> to<00:02:49.680> use<00:02:49.840> on<00:02:49.959> ethereum<00:02:50.400> and 00:02:50.470 --> 00:02:50.480 align:start position:0% people are going to use on ethereum and 00:02:50.480 --> 00:02:52.630 align:start position:0% people are going to use on ethereum and have<00:02:50.680> already<00:02:50.959> started<00:02:51.280> using<00:02:51.640> in<00:02:51.800> ethereum 00:02:52.630 --> 00:02:52.640 align:start position:0% have already started using in ethereum 00:02:52.640 --> 00:02:55.229 align:start position:0% have already started using in ethereum is<00:02:52.840> that<00:02:53.680> we<00:02:53.879> need<00:02:54.000> to<00:02:54.120> find<00:02:54.280> a<00:02:54.400> way<00:02:54.519> for<00:02:54.720> things 00:02:55.229 --> 00:02:55.239 align:start position:0% is that we need to find a way for things 00:02:55.239 --> 00:02:56.869 align:start position:0% is that we need to find a way for things for<00:02:55.519> these<00:02:55.720> kind<00:02:55.840> of<00:02:56.000> token<00:02:56.319> systems<00:02:56.680> to 00:02:56.869 --> 00:02:56.879 align:start position:0% for these kind of token systems to 00:02:56.879 --> 00:02:58.670 align:start position:0% for these kind of token systems to interoperate<00:02:57.480> with<00:02:57.599> each<00:02:57.800> other<00:02:58.319> and<00:02:58.440> then 00:02:58.670 --> 00:02:58.680 align:start position:0% interoperate with each other and then 00:02:58.680 --> 00:03:01.589 align:start position:0% interoperate with each other and then also<00:02:58.959> find<00:02:59.159> a<00:02:59.319> way<00:02:59.519> for<00:02:59.879> for<00:03:00.440> um<00:03:00.720> other<00:03:01.120> adaps 00:03:01.589 --> 00:03:01.599 align:start position:0% also find a way for for um other adaps 00:03:01.599 --> 00:03:04.910 align:start position:0% also find a way for for um other adaps to<00:03:01.800> use<00:03:02.440> these<00:03:02.640> tokens<00:03:03.080> in<00:03:03.280> their<00:03:03.879> ecosystems 00:03:04.910 --> 00:03:04.920 align:start position:0% to use these tokens in their ecosystems 00:03:04.920 --> 00:03:07.470 align:start position:0% to use these tokens in their ecosystems so<00:03:05.920> there's<00:03:06.159> been<00:03:06.319> a<00:03:06.519> community<00:03:06.959> effort 00:03:07.470 --> 00:03:07.480 align:start position:0% so there's been a community effort 00:03:07.480 --> 00:03:09.990 align:start position:0% so there's been a community effort mainly<00:03:08.159> um<00:03:08.319> spirited<00:03:08.840> by<00:03:08.959> the<00:03:09.040> foundation<00:03:09.599> to 00:03:09.990 --> 00:03:10.000 align:start position:0% mainly um spirited by the foundation to 00:03:10.000 --> 00:03:12.309 align:start position:0% mainly um spirited by the foundation to design<00:03:10.400> some<00:03:10.560> of<00:03:10.720> these<00:03:11.000> standards<00:03:12.000> um<00:03:12.120> so 00:03:12.309 --> 00:03:12.319 align:start position:0% design some of these standards um so 00:03:12.319 --> 00:03:13.910 align:start position:0% design some of these standards um so that<00:03:12.640> uh<00:03:12.799> these<00:03:12.959> things<00:03:13.159> can<00:03:13.319> interoperate 00:03:13.910 --> 00:03:13.920 align:start position:0% that uh these things can interoperate 00:03:13.920 --> 00:03:15.789 align:start position:0% that uh these things can interoperate easily<00:03:14.519> and<00:03:14.640> the<00:03:14.760> current<00:03:15.040> ones<00:03:15.239> are<00:03:15.480> around 00:03:15.789 --> 00:03:15.799 align:start position:0% easily and the current ones are around 00:03:15.799 --> 00:03:18.869 align:start position:0% easily and the current ones are around tokens<00:03:16.360> Registries<00:03:17.360> data<00:03:17.599> feeds<00:03:17.959> and<00:03:18.080> foring 00:03:18.869 --> 00:03:18.879 align:start position:0% tokens Registries data feeds and foring 00:03:18.879 --> 00:03:21.190 align:start position:0% tokens Registries data feeds and foring contracts<00:03:19.879> um<00:03:20.159> the<00:03:20.319> most<00:03:20.519> important<00:03:20.879> one<00:03:21.040> at 00:03:21.190 --> 00:03:21.200 align:start position:0% contracts um the most important one at 00:03:21.200 --> 00:03:23.270 align:start position:0% contracts um the most important one at this<00:03:21.360> stage<00:03:21.799> is<00:03:22.000> tokens<00:03:22.720> because<00:03:23.000> that's<00:03:23.159> the 00:03:23.270 --> 00:03:23.280 align:start position:0% this stage is tokens because that's the 00:03:23.280 --> 00:03:25.830 align:start position:0% this stage is tokens because that's the first<00:03:23.440> one<00:03:23.640> most<00:03:23.920> people<00:03:24.120> will<00:03:24.720> use<00:03:25.720> the 00:03:25.830 --> 00:03:25.840 align:start position:0% first one most people will use the 00:03:25.840 --> 00:03:28.270 align:start position:0% first one most people will use the standards<00:03:26.239> are<00:03:26.480> important<00:03:27.480> um<00:03:27.959> usually 00:03:28.270 --> 00:03:28.280 align:start position:0% standards are important um usually 00:03:28.280 --> 00:03:29.750 align:start position:0% standards are important um usually standards<00:03:28.599> are<00:03:28.799> important<00:03:29.200> but<00:03:29.439> the<00:03:29.560> reason 00:03:29.750 --> 00:03:29.760 align:start position:0% standards are important but the reason 00:03:29.760 --> 00:03:31.750 align:start position:0% standards are important but the reason reason<00:03:30.040> why<00:03:30.200> it's<00:03:30.720> uh<00:03:31.120> relatively<00:03:31.560> more 00:03:31.750 --> 00:03:31.760 align:start position:0% reason why it's uh relatively more 00:03:31.760 --> 00:03:34.070 align:start position:0% reason why it's uh relatively more important<00:03:32.120> in<00:03:32.280> ethereum's<00:03:32.879> case<00:03:33.280> is<00:03:33.480> that 00:03:34.070 --> 00:03:34.080 align:start position:0% important in ethereum's case is that 00:03:34.080 --> 00:03:36.710 align:start position:0% important in ethereum's case is that when<00:03:34.239> you<00:03:34.439> deploy<00:03:34.959> things<00:03:35.879> uh<00:03:35.959> you<00:03:36.120> can't<00:03:36.599> it's 00:03:36.710 --> 00:03:36.720 align:start position:0% when you deploy things uh you can't it's 00:03:36.720 --> 00:03:38.470 align:start position:0% when you deploy things uh you can't it's more<00:03:37.120> difficult<00:03:37.280> to<00:03:37.439> update<00:03:37.760> it<00:03:38.000> unless<00:03:38.319> you 00:03:38.470 --> 00:03:38.480 align:start position:0% more difficult to update it unless you 00:03:38.480 --> 00:03:40.949 align:start position:0% more difficult to update it unless you Bol<00:03:38.799> in<00:03:39.640> these<00:03:39.840> kind<00:03:40.000> of<00:03:40.159> features<00:03:40.560> to<00:03:40.720> allow 00:03:40.949 --> 00:03:40.959 align:start position:0% Bol in these kind of features to allow 00:03:40.959 --> 00:03:42.710 align:start position:0% Bol in these kind of features to allow it<00:03:41.040> to<00:03:41.159> change<00:03:41.560> functionality<00:03:42.080> in<00:03:42.200> the<00:03:42.280> future 00:03:42.710 --> 00:03:42.720 align:start position:0% it to change functionality in the future 00:03:42.720 --> 00:03:44.270 align:start position:0% it to change functionality in the future so<00:03:42.920> if<00:03:43.040> we<00:03:43.200> assume<00:03:43.560> we're<00:03:43.760> going<00:03:43.840> to<00:03:44.000> have<00:03:44.120> a 00:03:44.270 --> 00:03:44.280 align:start position:0% so if we assume we're going to have a 00:03:44.280 --> 00:03:46.710 align:start position:0% so if we assume we're going to have a token<00:03:45.040> for<00:03:45.560> which<00:03:45.680> is<00:03:45.799> a<00:03:45.879> share<00:03:46.120> in<00:03:46.239> a<00:03:46.360> company 00:03:46.710 --> 00:03:46.720 align:start position:0% token for which is a share in a company 00:03:46.720 --> 00:03:49.869 align:start position:0% token for which is a share in a company that's<00:03:46.879> going<00:03:47.000> to<00:03:47.120> last<00:03:47.400> 150<00:03:48.120> years<00:03:49.120> um<00:03:49.439> then 00:03:49.869 --> 00:03:49.879 align:start position:0% that's going to last 150 years um then 00:03:49.879 --> 00:03:51.550 align:start position:0% that's going to last 150 years um then this<00:03:50.040> thing<00:03:50.200> needs<00:03:50.400> to<00:03:50.560> be<00:03:50.840> uh<00:03:50.959> future<00:03:51.319> proof 00:03:51.550 --> 00:03:51.560 align:start position:0% this thing needs to be uh future proof 00:03:51.560 --> 00:03:53.110 align:start position:0% this thing needs to be uh future proof as<00:03:51.760> possible<00:03:52.159> so<00:03:52.640> that's<00:03:52.840> why<00:03:52.959> these 00:03:53.110 --> 00:03:53.120 align:start position:0% as possible so that's why these 00:03:53.120 --> 00:03:55.350 align:start position:0% as possible so that's why these standards<00:03:53.480> are<00:03:53.640> important<00:03:54.280> and<00:03:54.519> why<00:03:55.040> we<00:03:55.200> need 00:03:55.350 --> 00:03:55.360 align:start position:0% standards are important and why we need 00:03:55.360 --> 00:03:59.990 align:start position:0% standards are important and why we need to<00:03:55.680> um<00:03:56.680> uh<00:03:56.799> discuss<00:03:57.360> this<00:03:58.360> so<00:03:59.360> one<00:03:59.480> of<00:03:59.599> the<00:03:59.920> the 00:03:59.990 --> 00:04:00.000 align:start position:0% to um uh discuss this so one of the the 00:04:00.000 --> 00:04:01.670 align:start position:0% to um uh discuss this so one of the the problems<00:04:00.280> with<00:04:00.439> standards<00:04:01.040> is<00:04:01.200> the<00:04:01.319> standards 00:04:01.670 --> 00:04:01.680 align:start position:0% problems with standards is the standards 00:04:01.680 --> 00:04:05.190 align:start position:0% problems with standards is the standards are<00:04:01.799> not<00:04:02.040> easy<00:04:02.920> um<00:04:03.480> this<00:04:03.599> is<00:04:04.000> a<00:04:04.159> relevant<00:04:04.519> SK<00:04:04.840> CD 00:04:05.190 --> 00:04:05.200 align:start position:0% are not easy um this is a relevant SK CD 00:04:05.200 --> 00:04:07.149 align:start position:0% are not easy um this is a relevant SK CD comic<00:04:05.879> that<00:04:06.239> there<00:04:06.360> would<00:04:06.519> be<00:04:06.640> a<00:04:06.760> situation 00:04:07.149 --> 00:04:07.159 align:start position:0% comic that there would be a situation 00:04:07.159 --> 00:04:09.190 align:start position:0% comic that there would be a situation where<00:04:07.280> there<00:04:07.360> are<00:04:07.480> 14<00:04:07.959> competing<00:04:08.360> standards 00:04:09.190 --> 00:04:09.200 align:start position:0% where there are 14 competing standards 00:04:09.200 --> 00:04:10.589 align:start position:0% where there are 14 competing standards and<00:04:09.280> then<00:04:09.400> someone<00:04:09.680> says<00:04:10.040> that's<00:04:10.400> that's 00:04:10.589 --> 00:04:10.599 align:start position:0% and then someone says that's that's 00:04:10.599 --> 00:04:12.550 align:start position:0% and then someone says that's that's ridiculous<00:04:11.360> why<00:04:11.439> don't<00:04:11.640> we<00:04:11.840> just<00:04:12.000> make<00:04:12.319> one 00:04:12.550 --> 00:04:12.560 align:start position:0% ridiculous why don't we just make one 00:04:12.560 --> 00:04:14.429 align:start position:0% ridiculous why don't we just make one universal<00:04:13.079> standard<00:04:13.599> that<00:04:13.760> takes<00:04:13.959> all<00:04:14.120> use 00:04:14.429 --> 00:04:14.439 align:start position:0% universal standard that takes all use 00:04:14.439 --> 00:04:16.390 align:start position:0% universal standard that takes all use cases<00:04:14.720> into<00:04:15.040> account<00:04:15.560> and<00:04:15.760> what<00:04:15.879> you<00:04:15.959> end<00:04:16.160> up 00:04:16.390 --> 00:04:16.400 align:start position:0% cases into account and what you end up 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all that you need<00:04:26.520> to<00:04:26.639> do<00:04:26.800> is<00:04:26.880> to<00:04:27.000> be<00:04:27.120> in<00:04:27.199> the<00:04:27.320> right<00:04:27.520> place 00:04:27.670 --> 00:04:27.680 align:start position:0% need to do is to be in the right place 00:04:27.680 --> 00:04:29.150 align:start position:0% need to do is to be in the right place at<00:04:27.840> the<00:04:28.000> right<00:04:28.199> time<00:04:28.520> the<00:04:28.639> thing<00:04:28.840> that<00:04:28.960> gets 00:04:29.150 --> 00:04:29.160 align:start position:0% at the right time the thing that gets 00:04:29.160 --> 00:04:30.870 align:start position:0% at the right time the thing that gets the<00:04:29.280> most<00:04:29.479> adop<00:04:29.720> adopted<00:04:30.120> is<00:04:30.280> the<00:04:30.440> standard 00:04:30.870 --> 00:04:30.880 align:start position:0% the most adop adopted is the standard 00:04:30.880 --> 00:04:34.390 align:start position:0% the most adop adopted is the standard that<00:04:31.280> wins<00:04:32.280> JavaScript<00:04:32.840> was<00:04:32.919> B<00:04:33.160> to<00:04:33.280> be<00:04:34.039> used<00:04:34.280> in 00:04:34.390 --> 00:04:34.400 align:start position:0% that wins JavaScript was B to be used in 00:04:34.400 --> 00:04:36.550 align:start position:0% that wins JavaScript was B to be used in the<00:04:34.520> browser<00:04:35.280> and<00:04:35.400> before<00:04:35.600> we<00:04:35.800> knew<00:04:36.039> it<00:04:36.400> it's 00:04:36.550 --> 00:04:36.560 align:start position:0% the browser and before we knew it it's 00:04:36.560 --> 00:04:39.270 align:start position:0% the browser and before we knew it it's used<00:04:36.800> on<00:04:37.000> Hardware<00:04:37.680> so<00:04:38.479> it's<00:04:38.759> literally<00:04:39.160> just 00:04:39.270 --> 00:04:39.280 align:start position:0% used on Hardware so it's literally just 00:04:39.280 --> 00:04:40.469 align:start position:0% used on Hardware so it's literally just being<00:04:39.479> at<00:04:39.600> the<00:04:39.680> right<00:04:39.840> place<00:04:40.039> at<00:04:40.120> the<00:04:40.280> right 00:04:40.469 --> 00:04:40.479 align:start position:0% being at the right place at the right 00:04:40.479 --> 00:04:42.150 align:start position:0% being at the right place at the right time<00:04:40.720> which<00:04:40.880> standards<00:04:41.360> being<00:04:41.520> used<00:04:41.800> the<00:04:41.919> most 00:04:42.150 --> 00:04:42.160 align:start position:0% time which standards being used the most 00:04:42.160 --> 00:04:44.909 align:start position:0% time which standards being used the most often<00:04:42.720> you<00:04:42.840> can<00:04:43.039> discuss<00:04:43.560> at<00:04:43.840> infinum<00:04:44.560> about 00:04:44.909 --> 00:04:44.919 align:start position:0% often you can discuss at infinum about 00:04:44.919 --> 00:04:46.150 align:start position:0% often you can discuss at infinum about what<00:04:45.120> kind<00:04:45.240> of<00:04:45.400> things<00:04:45.680> should<00:04:45.800> be<00:04:45.880> in<00:04:46.000> a 00:04:46.150 --> 00:04:46.160 align:start position:0% what kind of things should be in a 00:04:46.160 --> 00:04:49.150 align:start position:0% what kind of things should be in a standard<00:04:47.080> but<00:04:47.800> the<00:04:47.919> one<00:04:48.160> that<00:04:48.400> will<00:04:48.600> win<00:04:49.080> at 00:04:49.150 --> 00:04:49.160 align:start position:0% standard but the one that will win at 00:04:49.160 --> 00:04:50.510 align:start position:0% standard but the one that will win at the<00:04:49.280> end<00:04:49.400> of<00:04:49.479> the<00:04:49.600> day<00:04:49.759> it<00:04:49.840> will<00:04:49.960> be<00:04:50.080> used<00:04:50.360> by 00:04:50.510 --> 00:04:50.520 align:start position:0% the end of the day it will be used by 00:04:50.520 --> 00:04:52.469 align:start position:0% the end of the day it will be used by most<00:04:50.759> people<00:04:51.280> is<00:04:51.400> the<00:04:51.520> one<00:04:51.720> that<00:04:51.880> gets 00:04:52.469 --> 00:04:52.479 align:start position:0% most people is the one that gets 00:04:52.479 --> 00:04:55.430 align:start position:0% most people is the one that gets developed<00:04:53.400> the<00:04:53.520> most<00:04:53.840> or<00:04:54.160> deployed<00:04:54.680> so<00:04:55.199> with 00:04:55.430 --> 00:04:55.440 align:start position:0% developed the most or deployed so with 00:04:55.440 --> 00:04:58.550 align:start position:0% developed the most or deployed so with the<00:04:55.919> Mist<00:04:56.440> an<00:04:56.600> ethereum<00:04:57.039> wallet<00:04:57.759> um<00:04:58.080> recently 00:04:58.550 --> 00:04:58.560 align:start position:0% the Mist an ethereum wallet um recently 00:04:58.560 --> 00:05:00.749 align:start position:0% the Mist an ethereum wallet um recently launched<00:04:59.479> they<00:04:59.880> you<00:05:00.000> can<00:05:00.120> issue<00:05:00.400> and<00:05:00.520> create 00:05:00.749 --> 00:05:00.759 align:start position:0% launched they you can issue and create 00:05:00.759 --> 00:05:03.550 align:start position:0% launched they you can issue and create tokens<00:05:01.080> from<00:05:01.320> there<00:05:01.919> and<00:05:02.360> everyone<00:05:03.240> already 00:05:03.550 --> 00:05:03.560 align:start position:0% tokens from there and everyone already 00:05:03.560 --> 00:05:05.270 align:start position:0% tokens from there and everyone already needs<00:05:03.800> to<00:05:04.280> consider<00:05:04.720> that<00:05:04.840> that<00:05:04.960> a<00:05:05.080> lot<00:05:05.199> of 00:05:05.270 --> 00:05:05.280 align:start position:0% needs to consider that that a lot of 00:05:05.280 --> 00:05:07.749 align:start position:0% needs to consider that that a lot of people<00:05:05.479> have<00:05:05.680> really<00:05:05.919> started<00:05:06.280> issuing 00:05:07.749 --> 00:05:07.759 align:start position:0% people have really started issuing 00:05:07.759 --> 00:05:10.150 align:start position:0% people have really started issuing tokens<00:05:08.759> so<00:05:08.919> what<00:05:09.039> do<00:05:09.160> the<00:05:09.280> current<00:05:09.560> token 00:05:10.150 --> 00:05:10.160 align:start position:0% tokens so what do the current token 00:05:10.160 --> 00:05:13.670 align:start position:0% tokens so what do the current token standards<00:05:11.160> um<00:05:11.800> look<00:05:12.039> like<00:05:12.919> uh<00:05:13.039> they<00:05:13.199> only<00:05:13.400> deal 00:05:13.670 --> 00:05:13.680 align:start position:0% standards um look like uh they only deal 00:05:13.680 --> 00:05:16.510 align:start position:0% standards um look like uh they only deal with<00:05:13.880> transfers<00:05:14.880> and<00:05:15.080> approvals<00:05:15.759> so<00:05:16.000> transfer 00:05:16.510 --> 00:05:16.520 align:start position:0% with transfers and approvals so transfer 00:05:16.520 --> 00:05:18.870 align:start position:0% with transfers and approvals so transfer is<00:05:16.919> how<00:05:17.080> do<00:05:17.160> you<00:05:17.280> send<00:05:17.560> tokens<00:05:17.919> around<00:05:18.600> and<00:05:18.759> the 00:05:18.870 --> 00:05:18.880 align:start position:0% is how do you send tokens around and the 00:05:18.880 --> 00:05:22.350 align:start position:0% is how do you send tokens around and the approval<00:05:19.400> system<00:05:19.960> is<00:05:20.800> the<00:05:21.039> possibility<00:05:21.560> to<00:05:22.199> to 00:05:22.350 --> 00:05:22.360 align:start position:0% approval system is the possibility to to 00:05:22.360 --> 00:05:25.150 align:start position:0% approval system is the possibility to to give<00:05:22.639> custodian<00:05:23.360> access<00:05:23.960> to<00:05:24.160> other<00:05:24.440> people<00:05:25.000> uh 00:05:25.150 --> 00:05:25.160 align:start position:0% give custodian access to other people uh 00:05:25.160 --> 00:05:28.070 align:start position:0% give custodian access to other people uh other<00:05:25.440> contracts<00:05:26.160> and<00:05:26.440> um<00:05:26.600> so<00:05:26.840> forth<00:05:27.720> it<00:05:27.840> does 00:05:28.070 --> 00:05:28.080 align:start position:0% other contracts and um so forth it does 00:05:28.080 --> 00:05:30.270 align:start position:0% other contracts and um so forth it does not<00:05:28.759> prescribe<00:05:29.240> anything<00:05:29.800> about<00:05:29.960> how<00:05:30.120> these 00:05:30.270 --> 00:05:30.280 align:start position:0% not prescribe anything about how these 00:05:30.280 --> 00:05:31.870 align:start position:0% not prescribe anything about how these tokens<00:05:30.600> are<00:05:30.759> created<00:05:31.240> that's<00:05:31.440> up<00:05:31.600> to<00:05:31.759> the 00:05:31.870 --> 00:05:31.880 align:start position:0% tokens are created that's up to the 00:05:31.880 --> 00:05:34.390 align:start position:0% tokens are created that's up to the Token<00:05:32.199> Creator<00:05:32.560> to<00:05:32.800> decide<00:05:33.680> and<00:05:33.840> the<00:05:34.000> general 00:05:34.390 --> 00:05:34.400 align:start position:0% Token Creator to decide and the general 00:05:34.400 --> 00:05:36.790 align:start position:0% Token Creator to decide and the general idea<00:05:34.720> behind<00:05:35.039> token<00:05:35.360> systems<00:05:36.039> is<00:05:36.240> that<00:05:36.600> a 00:05:36.790 --> 00:05:36.800 align:start position:0% idea behind token systems is that a 00:05:36.800 --> 00:05:39.070 align:start position:0% idea behind token systems is that a token<00:05:37.080> system<00:05:37.360> lives<00:05:37.880> in<00:05:38.240> a<00:05:38.479> specific 00:05:39.070 --> 00:05:39.080 align:start position:0% token system lives in a specific 00:05:39.080 --> 00:05:41.830 align:start position:0% token system lives in a specific contract<00:05:40.080> uh<00:05:40.160> sorry<00:05:40.600> at<00:05:40.720> a<00:05:40.880> specific 00:05:41.830 --> 00:05:41.840 align:start position:0% contract uh sorry at a specific 00:05:41.840 --> 00:05:44.110 align:start position:0% contract uh sorry at a specific address<00:05:42.840> so<00:05:43.120> these<00:05:43.360> the<00:05:43.479> standards<00:05:43.840> look<00:05:44.000> as 00:05:44.110 --> 00:05:44.120 align:start position:0% address so these the standards look as 00:05:44.120 --> 00:05:46.790 align:start position:0% address so these the standards look as follows<00:05:45.000> um<00:05:45.120> this<00:05:45.240> was<00:05:45.400> taken<00:05:45.759> from<00:05:46.199> the<00:05:46.440> Wiki 00:05:46.790 --> 00:05:46.800 align:start position:0% follows um this was taken from the Wiki 00:05:46.800 --> 00:05:49.070 align:start position:0% follows um this was taken from the Wiki page<00:05:47.039> so<00:05:47.199> everyone<00:05:47.600> can<00:05:47.840> can<00:05:48.039> go<00:05:48.199> look<00:05:48.360> at<00:05:48.479> it 00:05:49.070 --> 00:05:49.080 align:start position:0% page so everyone can can go look at it 00:05:49.080 --> 00:05:50.510 align:start position:0% page so everyone can can go look at it so<00:05:49.280> the<00:05:49.400> first<00:05:49.600> one<00:05:49.720> is<00:05:49.880> just<00:05:50.000> a<00:05:50.199> basic 00:05:50.510 --> 00:05:50.520 align:start position:0% so the first one is just a basic 00:05:50.520 --> 00:05:53.350 align:start position:0% so the first one is just a basic transfer<00:05:51.199> you<00:05:51.360> send<00:05:52.360> you<00:05:52.600> you<00:05:52.720> are<00:05:52.919> authorized 00:05:53.350 --> 00:05:53.360 align:start position:0% transfer you send you you are authorized 00:05:53.360 --> 00:05:56.070 align:start position:0% transfer you send you you are authorized to<00:05:53.440> send<00:05:53.960> your<00:05:54.160> own<00:05:54.360> money<00:05:54.600> to<00:05:54.800> someone<00:05:55.080> else 00:05:56.070 --> 00:05:56.080 align:start position:0% to send your own money to someone else 00:05:56.080 --> 00:05:57.990 align:start position:0% to send your own money to someone else then<00:05:56.240> you<00:05:56.400> have<00:05:56.600> the<00:05:56.840> transfer<00:05:57.319> from<00:05:57.720> which<00:05:57.840> is 00:05:57.990 --> 00:05:58.000 align:start position:0% then you have the transfer from which is 00:05:58.000 --> 00:06:00.070 align:start position:0% then you have the transfer from which is once<00:05:58.240> you've<00:05:58.479> G<00:05:58.800> someone<00:05:59.080> else<00:05:59.800> the 00:06:00.070 --> 00:06:00.080 align:start position:0% once you've G someone else the 00:06:00.080 --> 00:06:02.230 align:start position:0% once you've G someone else the possibility<00:06:00.600> to<00:06:00.800> send<00:06:01.039> money<00:06:01.280> on<00:06:01.400> your<00:06:01.639> behalf 00:06:02.230 --> 00:06:02.240 align:start position:0% possibility to send money on your behalf 00:06:02.240 --> 00:06:05.070 align:start position:0% possibility to send money on your behalf you<00:06:02.479> specify<00:06:03.240> who<00:06:03.400> needs<00:06:03.639> to<00:06:03.800> send<00:06:04.039> to<00:06:04.240> whom 00:06:05.070 --> 00:06:05.080 align:start position:0% you specify who needs to send to whom 00:06:05.080 --> 00:06:09.589 align:start position:0% you specify who needs to send to whom then<00:06:05.199> a<00:06:05.360> normal<00:06:05.680> balance<00:06:06.120> of<00:06:07.160> um<00:06:08.160> um<00:06:08.720> um<00:06:09.080> API 00:06:09.589 --> 00:06:09.599 align:start position:0% then a normal balance of um um um API 00:06:09.599 --> 00:06:12.029 align:start position:0% then a normal balance of um um um API which<00:06:09.759> is<00:06:10.280> as<00:06:10.720> it's<00:06:10.960> obvious<00:06:11.400> it<00:06:11.680> Returns<00:06:11.960> the 00:06:12.029 --> 00:06:12.039 align:start position:0% which is as it's obvious it Returns the 00:06:12.039 --> 00:06:14.550 align:start position:0% which is as it's obvious it Returns the amount<00:06:12.240> of<00:06:12.319> tokens<00:06:12.639> at<00:06:12.759> a<00:06:12.880> certain<00:06:13.560> address 00:06:14.550 --> 00:06:14.560 align:start position:0% amount of tokens at a certain address 00:06:14.560 --> 00:06:16.870 align:start position:0% amount of tokens at a certain address then<00:06:14.759> these<00:06:14.919> are<00:06:15.199> the<00:06:15.599> approval<00:06:16.000> apis<00:06:16.759> which 00:06:16.870 --> 00:06:16.880 align:start position:0% then these are the approval apis which 00:06:16.880 --> 00:06:19.790 align:start position:0% then these are the approval apis which is<00:06:17.400> the<00:06:17.560> first<00:06:17.840> one<00:06:18.199> is<00:06:19.080> uh<00:06:19.199> the<00:06:19.360> possibility 00:06:19.790 --> 00:06:19.800 align:start position:0% is the first one is uh the possibility 00:06:19.800 --> 00:06:23.110 align:start position:0% is the first one is uh the possibility to<00:06:20.000> give<00:06:20.280> full<00:06:20.880> custodian<00:06:21.880> um<00:06:22.639> over<00:06:22.880> your 00:06:23.110 --> 00:06:23.120 align:start position:0% to give full custodian um over your 00:06:23.120 --> 00:06:25.270 align:start position:0% to give full custodian um over your account<00:06:23.479> so<00:06:23.720> it's<00:06:23.960> essentially<00:06:24.360> saying<00:06:25.080> this 00:06:25.270 --> 00:06:25.280 align:start position:0% account so it's essentially saying this 00:06:25.280 --> 00:06:26.830 align:start position:0% account so it's essentially saying this contract<00:06:25.680> can<00:06:25.840> do<00:06:26.039> whatever<00:06:26.360> they<00:06:26.479> want<00:06:26.720> with 00:06:26.830 --> 00:06:26.840 align:start position:0% contract can do whatever they want with 00:06:26.840 --> 00:06:28.749 align:start position:0% contract can do whatever they want with my<00:06:27.000> money<00:06:27.520> you<00:06:27.639> need<00:06:27.800> to<00:06:27.919> trust<00:06:28.240> that<00:06:28.440> contract 00:06:28.749 --> 00:06:28.759 align:start position:0% my money you need to trust that contract 00:06:28.759 --> 00:06:30.950 align:start position:0% my money you need to trust that contract is<00:06:28.880> not<00:06:29.039> going<00:06:29.120> to<00:06:29.240> do<00:06:29.599> something<00:06:30.080> stupid<00:06:30.560> or 00:06:30.950 --> 00:06:30.960 align:start position:0% is not going to do something stupid or 00:06:30.960 --> 00:06:34.150 align:start position:0% is not going to do something stupid or crazy<00:06:31.960> um<00:06:32.240> then<00:06:32.440> you<00:06:32.599> can<00:06:33.000> remove<00:06:33.440> or<00:06:33.680> revoke 00:06:34.150 --> 00:06:34.160 align:start position:0% crazy um then you can remove or revoke 00:06:34.160 --> 00:06:37.390 align:start position:0% crazy um then you can remove or revoke that<00:06:34.560> access<00:06:35.400> and<00:06:35.800> this<00:06:36.160> the<00:06:36.319> unapproved<00:06:37.240> uh 00:06:37.390 --> 00:06:37.400 align:start position:0% that access and this the unapproved uh 00:06:37.400 --> 00:06:41.550 align:start position:0% that access and this the unapproved uh revokes<00:06:38.039> both<00:06:38.360> once<00:06:38.800> of<00:06:39.680> um<00:06:40.680> once<00:06:40.960> of<00:06:41.160> control 00:06:41.550 --> 00:06:41.560 align:start position:0% revokes both once of um once of control 00:06:41.560 --> 00:06:44.150 align:start position:0% revokes both once of um once of control and<00:06:41.680> full<00:06:41.960> custodian<00:06:42.440> control<00:06:43.440> the<00:06:43.599> once<00:06:43.880> of 00:06:44.150 --> 00:06:44.160 align:start position:0% and full custodian control the once of 00:06:44.160 --> 00:06:46.510 align:start position:0% and full custodian control the once of control<00:06:44.960> is<00:06:45.400> where<00:06:45.720> you<00:06:45.919> essentially<00:06:46.360> it's 00:06:46.510 --> 00:06:46.520 align:start position:0% control is where you essentially it's 00:06:46.520 --> 00:06:47.350 align:start position:0% control is where you essentially it's like 00:06:47.350 --> 00:06:47.360 align:start position:0% like 00:06:47.360 --> 00:06:50.430 align:start position:0% like a<00:06:48.360> deposit<00:06:48.880> type<00:06:49.120> system<00:06:49.560> where<00:06:50.199> you 00:06:50.430 --> 00:06:50.440 align:start position:0% a deposit type system where you 00:06:50.440 --> 00:06:52.909 align:start position:0% a deposit type system where you essentially<00:06:50.880> give<00:06:51.120> a<00:06:51.479> contract<00:06:52.479> uh<00:06:52.800> the 00:06:52.909 --> 00:06:52.919 align:start position:0% essentially give a contract uh the 00:06:52.919 --> 00:06:55.790 align:start position:0% essentially give a contract uh the ability<00:06:53.319> to<00:06:53.599> Once<00:06:53.960> off<00:06:54.360> up<00:06:54.520> to<00:06:54.720> certain<00:06:55.120> amount 00:06:55.790 --> 00:06:55.800 align:start position:0% ability to Once off up to certain amount 00:06:55.800 --> 00:06:57.869 align:start position:0% ability to Once off up to certain amount withdraw<00:06:56.280> money<00:06:56.560> or<00:06:56.919> extend<00:06:57.280> money<00:06:57.479> from<00:06:57.639> your 00:06:57.869 --> 00:06:57.879 align:start position:0% withdraw money or extend money from your 00:06:57.879 --> 00:06:59.909 align:start position:0% withdraw money or extend money from your account<00:06:58.800> and<00:06:58.919> then<00:06:59.080> you<00:06:59.240> have<00:06:59.599> helper 00:06:59.909 --> 00:06:59.919 align:start position:0% account and then you have helper 00:06:59.919 --> 00:07:01.749 align:start position:0% account and then you have helper functions<00:07:00.400> which<00:07:00.560> you<00:07:00.759> use<00:07:01.039> to<00:07:01.319> basically 00:07:01.749 --> 00:07:01.759 align:start position:0% functions which you use to basically 00:07:01.759 --> 00:07:05.189 align:start position:0% functions which you use to basically check<00:07:02.400> if<00:07:02.680> the<00:07:02.960> if<00:07:03.120> the<00:07:03.800> account<00:07:04.280> has<00:07:04.919> um 00:07:05.189 --> 00:07:05.199 align:start position:0% check if the if the account has um 00:07:05.199 --> 00:07:06.950 align:start position:0% check if the if the account has um access<00:07:05.520> to<00:07:05.680> do<00:07:05.919> certain 00:07:06.950 --> 00:07:06.960 align:start position:0% access to do certain 00:07:06.960 --> 00:07:11.110 align:start position:0% access to do certain things<00:07:07.960> so<00:07:08.479> based<00:07:08.759> on<00:07:08.919> that<00:07:09.120> we<00:07:09.280> created<00:07:09.840> a<00:07:10.440> um 00:07:11.110 --> 00:07:11.120 align:start position:0% things so based on that we created a um 00:07:11.120 --> 00:07:14.189 align:start position:0% things so based on that we created a um basic<00:07:11.400> standard<00:07:11.800> token<00:07:12.800> uh<00:07:13.080> the<00:07:13.599> the<00:07:13.759> funds 00:07:14.189 --> 00:07:14.199 align:start position:0% basic standard token uh the the funds 00:07:14.199 --> 00:07:16.869 align:start position:0% basic standard token uh the the funds are<00:07:14.479> created<00:07:15.160> in<00:07:15.319> the<00:07:15.560> Constructor<00:07:16.199> so 00:07:16.869 --> 00:07:16.879 align:start position:0% are created in the Constructor so 00:07:16.879 --> 00:07:19.589 align:start position:0% are created in the Constructor so essentially<00:07:17.280> saying<00:07:17.919> whoever<00:07:18.520> mints<00:07:19.199> the<00:07:19.400> the 00:07:19.589 --> 00:07:19.599 align:start position:0% essentially saying whoever mints the the 00:07:19.599 --> 00:07:21.550 align:start position:0% essentially saying whoever mints the the contract<00:07:20.160> is<00:07:20.360> the<00:07:20.479> owner<00:07:20.800> of<00:07:20.919> the<00:07:21.080> initial 00:07:21.550 --> 00:07:21.560 align:start position:0% contract is the owner of the initial 00:07:21.560 --> 00:07:23.909 align:start position:0% contract is the owner of the initial balance<00:07:22.560> um<00:07:22.800> I'm<00:07:22.919> going<00:07:23.000> to<00:07:23.240> post<00:07:23.759> these 00:07:23.909 --> 00:07:23.919 align:start position:0% balance um I'm going to post these 00:07:23.919 --> 00:07:26.670 align:start position:0% balance um I'm going to post these things<00:07:24.160> on<00:07:24.639> um<00:07:24.879> the<00:07:25.080> subreddit<00:07:25.759> and<00:07:26.120> um<00:07:26.280> online 00:07:26.670 --> 00:07:26.680 align:start position:0% things on um the subreddit and um online 00:07:26.680 --> 00:07:29.070 align:start position:0% things on um the subreddit and um online so<00:07:26.840> you<00:07:26.960> can<00:07:27.599> go<00:07:27.800> find<00:07:28.479> these<00:07:28.680> some<00:07:28.800> of<00:07:28.919> these 00:07:29.070 --> 00:07:29.080 align:start position:0% so you can go find these some of these 00:07:29.080 --> 00:07:31.230 align:start position:0% so you can go find these some of these examples<00:07:29.599> we've<00:07:29.800> created<00:07:30.599> um<00:07:30.840> that's<00:07:31.039> what<00:07:31.120> it 00:07:31.230 --> 00:07:31.240 align:start position:0% examples we've created um that's what it 00:07:31.240 --> 00:07:35.510 align:start position:0% examples we've created um that's what it would<00:07:31.400> look<00:07:31.639> like<00:07:32.720> um<00:07:33.720> then<00:07:34.440> uh<00:07:34.599> we<00:07:34.759> thought 00:07:35.510 --> 00:07:35.520 align:start position:0% would look like um then uh we thought 00:07:35.520 --> 00:07:39.029 align:start position:0% would look like um then uh we thought about<00:07:36.520> the<00:07:36.840> problem<00:07:37.240> of<00:07:38.000> well<00:07:38.440> a<00:07:38.560> lot<00:07:38.680> of<00:07:38.840> these 00:07:39.029 --> 00:07:39.039 align:start position:0% about the problem of well a lot of these 00:07:39.039 --> 00:07:41.070 align:start position:0% about the problem of well a lot of these functionalities<00:07:39.639> will<00:07:39.800> be<00:07:39.960> duplicated<00:07:40.879> uh 00:07:41.070 --> 00:07:41.080 align:start position:0% functionalities will be duplicated uh 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core functionality into a library so for those<00:07:47.759> that<00:07:47.960> don't<00:07:48.159> know<00:07:48.520> this<00:07:48.639> is<00:07:48.840> really 00:07:49.070 --> 00:07:49.080 align:start position:0% those that don't know this is really 00:07:49.080 --> 00:07:52.270 align:start position:0% those that don't know this is really awesome<00:07:49.840> libraries<00:07:50.759> um<00:07:50.960> like<00:07:51.680> Christian 00:07:52.270 --> 00:07:52.280 align:start position:0% awesome libraries um like Christian 00:07:52.280 --> 00:07:55.029 align:start position:0% awesome libraries um like Christian explained<00:07:52.680> earlier<00:07:53.319> is<00:07:54.159> you<00:07:54.599> create<00:07:54.919> the 00:07:55.029 --> 00:07:55.039 align:start position:0% explained earlier is you create the 00:07:55.039 --> 00:07:57.029 align:start position:0% explained earlier is you create the capability<00:07:55.520> for<00:07:55.759> code<00:07:56.039> to<00:07:56.240> live<00:07:56.440> at<00:07:56.520> a<00:07:56.680> certain 00:07:57.029 --> 00:07:57.039 align:start position:0% capability for code to live at a certain 00:07:57.039 --> 00:07:59.469 align:start position:0% capability for code to live at a certain place<00:07:57.240> on<00:07:57.360> the<00:07:57.520> blockchain<00:07:58.120> and<00:07:58.319> then<00:07:59.000> uh<00:07:59.080> you 00:07:59.469 --> 00:07:59.479 align:start position:0% place on the blockchain and then uh you 00:07:59.479 --> 00:08:01.469 align:start position:0% place on the blockchain and then uh you ually<00:07:59.840> call<00:08:00.240> those<00:08:00.520> functionality<00:08:01.280> and 00:08:01.469 --> 00:08:01.479 align:start position:0% ually call those functionality and 00:08:01.479 --> 00:08:03.469 align:start position:0% ually call those functionality and execute<00:08:01.840> it<00:08:02.000> in<00:08:02.120> the<00:08:02.240> current<00:08:02.639> environment<00:08:03.360> or 00:08:03.469 --> 00:08:03.479 align:start position:0% execute it in the current environment or 00:08:03.479 --> 00:08:05.869 align:start position:0% execute it in the current environment or the<00:08:03.639> calling<00:08:04.039> code<00:08:04.599> of<00:08:04.840> the<00:08:05.199> specific 00:08:05.869 --> 00:08:05.879 align:start position:0% the calling code of the specific 00:08:05.879 --> 00:08:08.550 align:start position:0% the calling code of the specific contract<00:08:06.360> so<00:08:06.840> you<00:08:06.960> would<00:08:07.120> for<00:08:07.240> example<00:08:07.800> have<00:08:08.400> a 00:08:08.550 --> 00:08:08.560 align:start position:0% contract so you would for example have a 00:08:08.560 --> 00:08:10.950 align:start position:0% contract so you would for example have a token<00:08:08.919> system<00:08:09.560> that<00:08:09.759> then<00:08:10.080> uses<00:08:10.479> transfer 00:08:10.950 --> 00:08:10.960 align:start position:0% token system that then uses transfer 00:08:10.960 --> 00:08:12.350 align:start position:0% token system that then uses transfer functionality<00:08:11.599> but<00:08:11.720> you<00:08:11.800> don't<00:08:12.039> have<00:08:12.159> to 00:08:12.350 --> 00:08:12.360 align:start position:0% functionality but you don't have to 00:08:12.360 --> 00:08:14.110 align:start position:0% functionality but you don't have to deploy<00:08:12.720> the<00:08:12.840> transfer<00:08:13.319> functionality<00:08:13.919> for 00:08:14.110 --> 00:08:14.120 align:start position:0% deploy the transfer functionality for 00:08:14.120 --> 00:08:16.710 align:start position:0% deploy the transfer functionality for each<00:08:14.360> token<00:08:14.720> system<00:08:15.080> each<00:08:15.280> time<00:08:16.199> so<00:08:16.360> we<00:08:16.479> wrote 00:08:16.710 --> 00:08:16.720 align:start position:0% each token system each time so we wrote 00:08:16.720 --> 00:08:20.629 align:start position:0% each token system each time so we wrote a<00:08:16.879> library<00:08:17.840> um<00:08:18.000> to<00:08:18.159> do<00:08:18.479> this<00:08:19.479> um<00:08:20.080> it<00:08:20.280> will<00:08:20.440> also 00:08:20.629 --> 00:08:20.639 align:start position:0% a library um to do this um it will also 00:08:20.639 --> 00:08:23.270 align:start position:0% a library um to do this um it will also be<00:08:20.800> available<00:08:21.759> um<00:08:22.080> and<00:08:22.280> then<00:08:22.560> the<00:08:22.919> the<00:08:23.039> actual 00:08:23.270 --> 00:08:23.280 align:start position:0% be available um and then the the actual 00:08:23.280 --> 00:08:24.749 align:start position:0% be available um and then the the actual implementation<00:08:24.039> which<00:08:24.159> is<00:08:24.280> the<00:08:24.400> stuff<00:08:24.599> you 00:08:24.749 --> 00:08:24.759 align:start position:0% implementation which is the stuff you 00:08:24.759 --> 00:08:26.909 align:start position:0% implementation which is the stuff you deploy<00:08:25.080> is<00:08:25.240> much<00:08:25.400> smaller<00:08:26.120> so<00:08:26.319> this<00:08:26.440> is<00:08:26.639> just 00:08:26.909 --> 00:08:26.919 align:start position:0% deploy is much smaller so this is just 00:08:26.919 --> 00:08:28.909 align:start position:0% deploy is much smaller so this is just what<00:08:27.240> the<00:08:27.360> actual<00:08:27.680> token<00:08:28.440> each<00:08:28.639> time<00:08:28.800> you 00:08:28.909 --> 00:08:28.919 align:start position:0% what the actual token each time you 00:08:28.919 --> 00:08:30.830 align:start position:0% what the actual token each time you meant<00:08:29.159> to<00:08:29.599> token<00:08:29.919> contract<00:08:30.360> what<00:08:30.479> it<00:08:30.599> would 00:08:30.830 --> 00:08:30.840 align:start position:0% meant to token contract what it would 00:08:30.840 --> 00:08:33.670 align:start position:0% meant to token contract what it would actually<00:08:31.599> look<00:08:31.879> like<00:08:32.560> so<00:08:32.719> we<00:08:32.880> did<00:08:33.159> some<00:08:33.399> test 00:08:33.670 --> 00:08:33.680 align:start position:0% actually look like so we did some test 00:08:33.680 --> 00:08:35.829 align:start position:0% actually look like so we did some test to<00:08:33.800> see<00:08:34.080> if<00:08:34.200> it's<00:08:34.440> substantially<00:08:35.000> cheaper<00:08:35.599> and 00:08:35.829 --> 00:08:35.839 align:start position:0% to see if it's substantially cheaper and 00:08:35.839 --> 00:08:37.550 align:start position:0% to see if it's substantially cheaper and this<00:08:36.000> was<00:08:36.200> the<00:08:36.360> estimated<00:08:36.839> gas<00:08:37.080> cost<00:08:37.279> for<00:08:37.399> the 00:08:37.550 --> 00:08:37.560 align:start position:0% this was the estimated gas cost for the 00:08:37.560 --> 00:08:40.509 align:start position:0% this was the estimated gas cost for the normal<00:08:37.839> one<00:08:38.479> and<00:08:38.599> the<00:08:38.760> library<00:08:39.479> is<00:08:40.159> it's<00:08:40.279> a<00:08:40.399> bit 00:08:40.509 --> 00:08:40.519 align:start position:0% normal one and the library is it's a bit 00:08:40.519 --> 00:08:42.149 align:start position:0% normal one and the library is it's a bit cheaper<00:08:41.000> I'm 00:08:42.149 --> 00:08:42.159 align:start position:0% cheaper I'm 00:08:42.159 --> 00:08:44.630 align:start position:0% cheaper I'm sure<00:08:43.159> uh<00:08:43.320> there's<00:08:43.560> still<00:08:43.839> some<00:08:44.360> gas 00:08:44.630 --> 00:08:44.640 align:start position:0% sure uh there's still some gas 00:08:44.640 --> 00:08:46.269 align:start position:0% sure uh there's still some gas optimization<00:08:45.240> tricks<00:08:45.560> we<00:08:45.680> could<00:08:45.800> employ<00:08:46.160> to 00:08:46.269 --> 00:08:46.279 align:start position:0% optimization tricks we could employ to 00:08:46.279 --> 00:08:48.389 align:start position:0% optimization tricks we could employ to make<00:08:46.399> it<00:08:46.480> even<00:08:46.680> more<00:08:46.880> cheaper 00:08:48.389 --> 00:08:48.399 align:start position:0% make it even more cheaper 00:08:48.399 --> 00:08:50.910 align:start position:0% make it even more cheaper um<00:08:49.399> we'll<00:08:49.600> see<00:08:49.760> what<00:08:49.920> happens<00:08:50.360> most<00:08:50.519> of<00:08:50.720> this 00:08:50.910 --> 00:08:50.920 align:start position:0% um we'll see what happens most of this 00:08:50.920 --> 00:08:53.070 align:start position:0% um we'll see what happens most of this stuff<00:08:51.399> most<00:08:51.519> of<00:08:51.680> the<00:08:51.839> stuff<00:08:52.080> came<00:08:52.320> into<00:08:52.920> uh 00:08:53.070 --> 00:08:53.080 align:start position:0% stuff most of the stuff came into uh 00:08:53.080 --> 00:08:54.430 align:start position:0% stuff most of the stuff came into uh when<00:08:53.279> we<00:08:53.480> started<00:08:53.680> thinking<00:08:53.920> about<00:08:54.200> gas 00:08:54.430 --> 00:08:54.440 align:start position:0% when we started thinking about gas 00:08:54.440 --> 00:08:58.750 align:start position:0% when we started thinking about gas optimization<00:08:55.240> was<00:08:56.040> um<00:08:56.240> the<00:08:56.399> fact<00:08:56.720> that<00:08:57.600> um<00:08:58.600> was 00:08:58.750 --> 00:08:58.760 align:start position:0% optimization was um the fact that um was 00:08:58.760 --> 00:09:00.430 align:start position:0% optimization was um the fact that um was the<00:08:58.920> fact<00:08:59.160> that 00:09:00.430 --> 00:09:00.440 align:start position:0% the fact that 00:09:00.440 --> 00:09:03.269 align:start position:0% the fact that nosis<00:09:01.240> and<00:09:01.399> other<00:09:01.680> prediction<00:09:02.079> markets<00:09:02.760> they 00:09:03.269 --> 00:09:03.279 align:start position:0% nosis and other prediction markets they 00:09:03.279 --> 00:09:05.790 align:start position:0% nosis and other prediction markets they they<00:09:03.519> essentially<00:09:04.040> mint<00:09:04.560> tokens<00:09:05.000> for<00:09:05.279> each 00:09:05.790 --> 00:09:05.800 align:start position:0% they essentially mint tokens for each 00:09:05.800 --> 00:09:08.230 align:start position:0% they essentially mint tokens for each event<00:09:06.360> and<00:09:06.760> and<00:09:07.040> specific<00:09:07.480> outcome<00:09:07.959> so<00:09:08.160> you 00:09:08.230 --> 00:09:08.240 align:start position:0% event and and specific outcome so you 00:09:08.240 --> 00:09:10.710 align:start position:0% event and and specific outcome so you would<00:09:08.480> have<00:09:09.040> the<00:09:09.240> credential<00:09:09.760> race<00:09:10.480> then<00:09:10.640> you 00:09:10.710 --> 00:09:10.720 align:start position:0% would have the credential race then you 00:09:10.720 --> 00:09:13.310 align:start position:0% would have the credential race then you would<00:09:10.839> need<00:09:11.000> a<00:09:11.160> token<00:09:11.480> system<00:09:11.800> for<00:09:12.720> uh<00:09:12.920> Hillary 00:09:13.310 --> 00:09:13.320 align:start position:0% would need a token system for uh Hillary 00:09:13.320 --> 00:09:15.790 align:start position:0% would need a token system for uh Hillary Clinton<00:09:14.320> uh<00:09:14.440> Jeff<00:09:14.760> Bush<00:09:15.000> and<00:09:15.160> whatever<00:09:15.680> you 00:09:15.790 --> 00:09:15.800 align:start position:0% Clinton uh Jeff Bush and whatever you 00:09:15.800 --> 00:09:18.030 align:start position:0% Clinton uh Jeff Bush and whatever you would<00:09:16.000> have<00:09:16.680> Min<00:09:16.880> a<00:09:17.040> specific<00:09:17.360> token<00:09:17.720> contract 00:09:18.030 --> 00:09:18.040 align:start position:0% would have Min a specific token contract 00:09:18.040 --> 00:09:20.230 align:start position:0% would have Min a specific token contract for<00:09:18.160> all<00:09:18.279> of<00:09:18.360> them<00:09:18.640> and<00:09:18.760> if<00:09:18.880> we<00:09:19.079> assume<00:09:19.880> like<00:09:20.079> we 00:09:20.230 --> 00:09:20.240 align:start position:0% for all of them and if we assume like we 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very<00:09:25.880> wonderfully<00:09:26.839> then<00:09:27.079> it<00:09:27.279> comes<00:09:27.680> very<00:09:28.200> um 00:09:28.509 --> 00:09:28.519 align:start position:0% very wonderfully then it comes very um 00:09:28.519 --> 00:09:31.110 align:start position:0% very wonderfully then it comes very um expensive<00:09:28.959> to<00:09:29.519> these<00:09:29.680> tokens<00:09:30.079> each<00:09:30.320> time<00:09:30.880> so 00:09:31.110 --> 00:09:31.120 align:start position:0% expensive to these tokens each time so 00:09:31.120 --> 00:09:32.670 align:start position:0% expensive to these tokens each time so we<00:09:31.320> thought<00:09:31.560> about<00:09:31.920> the<00:09:32.040> possibility<00:09:32.519> of 00:09:32.670 --> 00:09:32.680 align:start position:0% we thought about the possibility of 00:09:32.680 --> 00:09:34.430 align:start position:0% we thought about the possibility of adding<00:09:33.160> an<00:09:33.560> an 00:09:34.430 --> 00:09:34.440 align:start position:0% adding an an 00:09:34.440 --> 00:09:36.710 align:start position:0% adding an an identifier<00:09:35.440> an<00:09:35.640> optional<00:09:35.959> identifier<00:09:36.480> to<00:09:36.600> a 00:09:36.710 --> 00:09:36.720 align:start position:0% identifier an optional identifier to a 00:09:36.720 --> 00:09:39.069 align:start position:0% identifier an optional identifier to a token<00:09:37.000> system<00:09:37.440> but<00:09:37.600> it<00:09:37.760> meant<00:09:38.200> it<00:09:38.360> adds<00:09:38.839> some 00:09:39.069 --> 00:09:39.079 align:start position:0% token system but it meant it adds some 00:09:39.079 --> 00:09:41.030 align:start position:0% token system but it meant it adds some kind<00:09:39.200> of<00:09:39.360> complexity<00:09:39.839> to<00:09:40.000> the<00:09:40.120> standards<00:09:40.680> that 00:09:41.030 --> 00:09:41.040 align:start position:0% kind of complexity to the standards that 00:09:41.040 --> 00:09:43.470 align:start position:0% kind of complexity to the standards that most<00:09:41.440> tokens<00:09:41.920> might<00:09:42.079> not<00:09:42.279> use<00:09:42.880> so<00:09:43.040> this<00:09:43.160> is<00:09:43.320> an 00:09:43.470 --> 00:09:43.480 align:start position:0% most tokens might not use so this is an 00:09:43.480 --> 00:09:45.509 align:start position:0% most tokens might not use so this is an example<00:09:43.839> of<00:09:44.000> things<00:09:44.279> where<00:09:44.440> it<00:09:44.600> gets<00:09:45.200> it<00:09:45.360> can 00:09:45.509 --> 00:09:45.519 align:start position:0% example of things where it gets it can 00:09:45.519 --> 00:09:47.509 align:start position:0% example of things where it gets it can get<00:09:45.720> quite<00:09:45.920> complicated<00:09:46.440> in<00:09:46.560> terms<00:09:46.800> of<00:09:47.160> what 00:09:47.509 --> 00:09:47.519 align:start position:0% get quite complicated in terms of what 00:09:47.519 --> 00:09:50.949 align:start position:0% get quite complicated in terms of what this<00:09:47.760> the<00:09:47.880> community<00:09:48.320> ends<00:09:48.560> up<00:09:48.839> using<00:09:49.959> um 00:09:50.949 --> 00:09:50.959 align:start position:0% this the community ends up using um 00:09:50.959 --> 00:09:52.550 align:start position:0% this the community ends up using um there<00:09:51.120> are<00:09:51.440> ways<00:09:51.680> in<00:09:51.839> which<00:09:51.959> you<00:09:52.079> can<00:09:52.279> have 00:09:52.550 --> 00:09:52.560 align:start position:0% there are ways in which you can have 00:09:52.560 --> 00:09:55.829 align:start position:0% there are ways in which you can have exactly<00:09:53.040> this<00:09:53.240> type<00:09:53.560> of<00:09:54.079> um<00:09:54.279> system<00:09:54.920> and<00:09:55.079> then 00:09:55.829 --> 00:09:55.839 align:start position:0% exactly this type of um system and then 00:09:55.839 --> 00:09:58.389 align:start position:0% exactly this type of um system and then it<00:09:56.079> you<00:09:56.320> use<00:09:56.680> essentially<00:09:57.560> a<00:09:57.839> constellation 00:09:58.389 --> 00:09:58.399 align:start position:0% it you use essentially a constellation 00:09:58.399 --> 00:10:01.190 align:start position:0% it you use essentially a constellation of<00:09:58.560> forwarding<00:09:59.000> contra<00:09:59.360> tracks<00:10:00.040> around<00:10:01.040> this 00:10:01.190 --> 00:10:01.200 align:start position:0% of forwarding contra tracks around this 00:10:01.200 --> 00:10:02.790 align:start position:0% of forwarding contra tracks around this kind<00:10:01.320> of<00:10:01.480> thing<00:10:01.720> but<00:10:02.000> it's<00:10:02.160> out<00:10:02.279> of<00:10:02.440> scope<00:10:02.640> of 00:10:02.790 --> 00:10:02.800 align:start position:0% kind of thing but it's out of scope of 00:10:02.800 --> 00:10:06.750 align:start position:0% kind of thing but it's out of scope of this<00:10:03.000> talk<00:10:04.440> um<00:10:05.440> what<00:10:05.560> we're<00:10:05.760> going<00:10:05.880> to<00:10:06.040> do<00:10:06.480> from 00:10:06.750 --> 00:10:06.760 align:start position:0% this talk um what we're going to do from 00:10:06.760 --> 00:10:10.150 align:start position:0% this talk um what we're going to do from Ur<00:10:07.000> and<00:10:07.160> out<00:10:07.600> um<00:10:08.200> is<00:10:08.600> we've<00:10:08.839> built<00:10:09.120> the<00:10:09.279> basic 00:10:10.150 --> 00:10:10.160 align:start position:0% Ur and out um is we've built the basic 00:10:10.160 --> 00:10:12.230 align:start position:0% Ur and out um is we've built the basic Nick<00:10:10.480> dots<00:10:10.720> and<00:10:10.880> made<00:10:11.120> this<00:10:11.320> really<00:10:11.560> nice 00:10:12.230 --> 00:10:12.240 align:start position:0% Nick dots and made this really nice 00:10:12.240 --> 00:10:14.790 align:start position:0% Nick dots and made this really nice simplistic<00:10:12.839> interface<00:10:13.839> um<00:10:14.120> that<00:10:14.360> basically 00:10:14.790 --> 00:10:14.800 align:start position:0% simplistic interface um that basically 00:10:14.800 --> 00:10:16.710 align:start position:0% simplistic interface um that basically means<00:10:15.079> anyone<00:10:15.360> can<00:10:15.480> create<00:10:15.720> a<00:10:15.800> token<00:10:16.120> contract 00:10:16.710 --> 00:10:16.720 align:start position:0% means anyone can create a token contract 00:10:16.720 --> 00:10:19.910 align:start position:0% means anyone can create a token contract and<00:10:17.399> because<00:10:18.079> we<00:10:18.640> conform<00:10:19.079> to<00:10:19.240> the<00:10:19.440> wonderful 00:10:19.910 --> 00:10:19.920 align:start position:0% and because we conform to the wonderful 00:10:19.920 --> 00:10:21.870 align:start position:0% and because we conform to the wonderful standards<00:10:20.560> it<00:10:20.680> means<00:10:20.959> you<00:10:21.079> can<00:10:21.279> just<00:10:21.440> use<00:10:21.680> that 00:10:21.870 --> 00:10:21.880 align:start position:0% standards it means you can just use that 00:10:21.880 --> 00:10:23.829 align:start position:0% standards it means you can just use that address<00:10:22.279> in<00:10:22.440> the<00:10:22.560> current<00:10:22.839> ethereum<00:10:23.279> wallet 00:10:23.829 --> 00:10:23.839 align:start position:0% address in the current ethereum wallet 00:10:23.839 --> 00:10:26.509 align:start position:0% address in the current ethereum wallet and<00:10:24.000> you<00:10:24.079> can<00:10:24.279> tra<00:10:24.959> and<00:10:25.480> exchange<00:10:25.880> your<00:10:26.079> Simon 00:10:26.509 --> 00:10:26.519 align:start position:0% and you can tra and exchange your Simon 00:10:26.519 --> 00:10:29.509 align:start position:0% and you can tra and exchange your Simon tokens<00:10:27.519> for<00:10:28.160> no<00:10:28.320> I'm<00:10:28.440> not<00:10:28.560> selling<00:10:28.839> beers<00:10:29.399> but 00:10:29.509 --> 00:10:29.519 align:start position:0% tokens for no I'm not selling beers but 00:10:29.519 --> 00:10:31.710 align:start position:0% tokens for no I'm not selling beers but you<00:10:29.600> can<00:10:29.800> exchange<00:10:30.200> it<00:10:30.320> for<00:10:30.480> something<00:10:30.760> else 00:10:31.710 --> 00:10:31.720 align:start position:0% you can exchange it for something else 00:10:31.720 --> 00:10:33.710 align:start position:0% you can exchange it for something else um<00:10:32.360> then<00:10:32.760> eventually<00:10:33.120> we're<00:10:33.240> going<00:10:33.320> to<00:10:33.480> make 00:10:33.710 --> 00:10:33.720 align:start position:0% um then eventually we're going to make 00:10:33.720 --> 00:10:36.389 align:start position:0% um then eventually we're going to make more<00:10:34.720> a<00:10:34.839> more<00:10:35.120> complicated<00:10:35.720> token<00:10:36.040> issuance 00:10:36.389 --> 00:10:36.399 align:start position:0% more a more complicated token issuance 00:10:36.399 --> 00:10:39.750 align:start position:0% more a more complicated token issuance and<00:10:36.519> management<00:10:36.959> system<00:10:37.959> that<00:10:38.120> will<00:10:38.760> involve 00:10:39.750 --> 00:10:39.760 align:start position:0% and management system that will involve 00:10:39.760 --> 00:10:41.550 align:start position:0% and management system that will involve the<00:10:39.959> options<00:10:40.320> to<00:10:40.680> pick<00:10:40.839> and<00:10:41.000> choose<00:10:41.279> certain 00:10:41.550 --> 00:10:41.560 align:start position:0% the options to pick and choose certain 00:10:41.560 --> 00:10:44.069 align:start position:0% the options to pick and choose certain features<00:10:42.200> so<00:10:42.639> if<00:10:42.720> you<00:10:42.839> want<00:10:43.040> an<00:10:43.200> administrator 00:10:44.069 --> 00:10:44.079 align:start position:0% features so if you want an administrator 00:10:44.079 --> 00:10:45.509 align:start position:0% features so if you want an administrator or<00:10:44.200> you<00:10:44.320> want<00:10:44.519> the<00:10:44.680> possibility<00:10:45.079> to<00:10:45.279> Min 00:10:45.509 --> 00:10:45.519 align:start position:0% or you want the possibility to Min 00:10:45.519 --> 00:10:48.069 align:start position:0% or you want the possibility to Min tokens<00:10:45.839> into<00:10:46.079> the<00:10:46.240> future<00:10:47.079> if<00:10:47.240> tokens<00:10:47.560> should 00:10:48.069 --> 00:10:48.079 align:start position:0% tokens into the future if tokens should 00:10:48.079 --> 00:10:49.990 align:start position:0% tokens into the future if tokens should should<00:10:48.320> Decay<00:10:49.000> you<00:10:49.120> know<00:10:49.279> there<00:10:49.360> are<00:10:49.560> lots<00:10:49.760> of 00:10:49.990 --> 00:10:50.000 align:start position:0% should Decay you know there are lots of 00:10:50.000 --> 00:10:52.230 align:start position:0% should Decay you know there are lots of VAR<00:10:50.480> variables<00:10:51.000> involved<00:10:51.760> and<00:10:51.880> then<00:10:51.959> to<00:10:52.120> make 00:10:52.230 --> 00:10:52.240 align:start position:0% VAR variables involved and then to make 00:10:52.240 --> 00:10:54.750 align:start position:0% VAR variables involved and then to make it<00:10:52.320> easy<00:10:52.519> to<00:10:52.639> Plug<00:10:52.839> and<00:10:53.000> Play<00:10:53.680> these<00:10:53.880> kind<00:10:54.040> of 00:10:54.750 --> 00:10:54.760 align:start position:0% it easy to Plug and Play these kind of 00:10:54.760 --> 00:10:58.389 align:start position:0% it easy to Plug and Play these kind of things<00:10:56.200> um<00:10:57.200> yeah<00:10:57.320> just<00:10:57.519> an<00:10:57.720> example<00:10:58.040> of<00:10:58.160> the 00:10:58.389 --> 00:10:58.399 align:start position:0% things um yeah just an example of the 00:10:58.399 --> 00:11:00.590 align:start position:0% things um yeah just an example of the identifier<00:10:58.959> code 00:11:00.590 --> 00:11:00.600 align:start position:0% identifier code 00:11:00.600 --> 00:11:03.150 align:start position:0% identifier code given<00:11:00.920> these<00:11:01.120> things<00:11:02.000> um<00:11:02.720> there<00:11:02.800> are<00:11:02.959> still 00:11:03.150 --> 00:11:03.160 align:start position:0% given these things um there are still 00:11:03.160 --> 00:11:05.150 align:start position:0% given these things um there are still some<00:11:03.399> thoughts<00:11:03.760> that<00:11:03.920> we<00:11:04.160> have<00:11:04.440> around<00:11:05.000> the 00:11:05.150 --> 00:11:05.160 align:start position:0% some thoughts that we have around the 00:11:05.160 --> 00:11:07.350 align:start position:0% some thoughts that we have around the the<00:11:05.279> token<00:11:05.639> standards<00:11:06.639> and<00:11:06.880> that's<00:11:07.079> why<00:11:07.279> I 00:11:07.350 --> 00:11:07.360 align:start position:0% the token standards and that's why I 00:11:07.360 --> 00:11:09.110 align:start position:0% the token standards and that's why I thought<00:11:07.560> this<00:11:07.680> is<00:11:07.800> a<00:11:08.000> perfect<00:11:08.360> time<00:11:08.639> because 00:11:09.110 --> 00:11:09.120 align:start position:0% thought this is a perfect time because 00:11:09.120 --> 00:11:11.150 align:start position:0% thought this is a perfect time because we<00:11:09.240> have<00:11:09.399> all<00:11:09.600> the<00:11:10.000> developers<00:11:10.440> in<00:11:10.560> the<00:11:10.720> room 00:11:11.150 --> 00:11:11.160 align:start position:0% we have all the developers in the room 00:11:11.160 --> 00:11:12.949 align:start position:0% we have all the developers in the room to<00:11:11.360> consider<00:11:11.760> these<00:11:11.959> things<00:11:12.360> one<00:11:12.519> of<00:11:12.639> the<00:11:12.760> most 00:11:12.949 --> 00:11:12.959 align:start position:0% to consider these things one of the most 00:11:12.959 --> 00:11:15.110 align:start position:0% to consider these things one of the most pertinent<00:11:13.360> ones<00:11:13.639> that<00:11:13.760> we<00:11:13.880> want<00:11:14.040> to<00:11:14.200> introduce 00:11:15.110 --> 00:11:15.120 align:start position:0% pertinent ones that we want to introduce 00:11:15.120 --> 00:11:18.230 align:start position:0% pertinent ones that we want to introduce that<00:11:15.600> U<00:11:16.560> is<00:11:16.839> the<00:11:17.079> a<00:11:17.240> get<00:11:17.480> total<00:11:17.800> or<00:11:17.959> total 00:11:18.230 --> 00:11:18.240 align:start position:0% that U is the a get total or total 00:11:18.240 --> 00:11:20.190 align:start position:0% that U is the a get total or total amount<00:11:18.600> API<00:11:19.240> that's<00:11:19.440> not<00:11:19.639> currently<00:11:19.959> in<00:11:20.079> the 00:11:20.190 --> 00:11:20.200 align:start position:0% amount API that's not currently in the 00:11:20.200 --> 00:11:23.470 align:start position:0% amount API that's not currently in the token<00:11:20.880> standards<00:11:21.880> um<00:11:22.120> this<00:11:22.279> is<00:11:23.279> what<00:11:23.399> it 00:11:23.470 --> 00:11:23.480 align:start position:0% token standards um this is what it 00:11:23.480 --> 00:11:26.550 align:start position:0% token standards um this is what it should<00:11:23.880> return<00:11:24.240> is<00:11:24.560> just<00:11:25.320> based<00:11:25.600> on<00:11:26.079> whatever 00:11:26.550 --> 00:11:26.560 align:start position:0% should return is just based on whatever 00:11:26.560 --> 00:11:28.910 align:start position:0% should return is just based on whatever the<00:11:26.720> token<00:11:27.480> deems<00:11:27.839> to<00:11:28.000> be<00:11:28.200> the<00:11:28.320> case<00:11:28.680> the 00:11:28.910 --> 00:11:28.920 align:start position:0% the token deems to be the case the 00:11:28.920 --> 00:11:31.389 align:start position:0% the token deems to be the case the amount<00:11:29.440> of<00:11:29.600> tokens<00:11:29.959> in<00:11:30.160> circulation<00:11:31.160> and<00:11:31.279> this 00:11:31.389 --> 00:11:31.399 align:start position:0% amount of tokens in circulation and this 00:11:31.399 --> 00:11:32.750 align:start position:0% amount of tokens in circulation and this is<00:11:31.560> important<00:11:31.920> for<00:11:32.079> scenarios<00:11:32.519> where<00:11:32.639> you 00:11:32.750 --> 00:11:32.760 align:start position:0% is important for scenarios where you 00:11:32.760 --> 00:11:35.269 align:start position:0% is important for scenarios where you want<00:11:32.880> to<00:11:33.040> figure<00:11:33.320> out<00:11:33.720> hey<00:11:33.959> how<00:11:34.160> much<00:11:34.440> how<00:11:34.560> many 00:11:35.269 --> 00:11:35.279 align:start position:0% want to figure out hey how much how many 00:11:35.279 --> 00:11:36.509 align:start position:0% want to figure out hey how much how many like<00:11:35.440> what's<00:11:35.680> my 00:11:36.509 --> 00:11:36.519 align:start position:0% like what's my 00:11:36.519 --> 00:11:39.230 align:start position:0% like what's my percentage<00:11:37.519> uh<00:11:37.680> ownership<00:11:38.279> in<00:11:38.399> a<00:11:38.600> company<00:11:39.040> for 00:11:39.230 --> 00:11:39.240 align:start position:0% percentage uh ownership in a company for 00:11:39.240 --> 00:11:40.790 align:start position:0% percentage uh ownership in a company for example<00:11:39.800> that's<00:11:40.000> not<00:11:40.200> possible<00:11:40.560> at<00:11:40.680> the 00:11:40.790 --> 00:11:40.800 align:start position:0% example that's not possible at the 00:11:40.800 --> 00:11:42.710 align:start position:0% example that's not possible at the moment<00:11:41.120> unless<00:11:41.440> you<00:11:41.600> store<00:11:41.959> it<00:11:42.360> somewhere 00:11:42.710 --> 00:11:42.720 align:start position:0% moment unless you store it somewhere 00:11:42.720 --> 00:11:44.509 align:start position:0% moment unless you store it somewhere else<00:11:43.000> or<00:11:43.279> or<00:11:43.440> have<00:11:43.639> previous 00:11:44.509 --> 00:11:44.519 align:start position:0% else or or have previous 00:11:44.519 --> 00:11:47.470 align:start position:0% else or or have previous knowledge<00:11:45.519> um<00:11:45.839> the<00:11:45.959> order<00:11:46.240> of<00:11:46.360> the<00:11:46.519> parameters 00:11:47.470 --> 00:11:47.480 align:start position:0% knowledge um the order of the parameters 00:11:47.480 --> 00:11:50.150 align:start position:0% knowledge um the order of the parameters uh<00:11:47.600> was<00:11:47.800> recently<00:11:48.360> changed<00:11:49.360> um<00:11:49.800> we're<00:11:50.000> not 00:11:50.150 --> 00:11:50.160 align:start position:0% uh was recently changed um we're not 00:11:50.160 --> 00:11:52.350 align:start position:0% uh was recently changed um we're not sure<00:11:50.519> why<00:11:50.760> but<00:11:51.040> I'm<00:11:51.160> going<00:11:51.240> to<00:11:51.440> talk<00:11:51.600> to<00:11:52.120> Alex 00:11:52.350 --> 00:11:52.360 align:start position:0% sure why but I'm going to talk to Alex 00:11:52.360 --> 00:11:55.069 align:start position:0% sure why but I'm going to talk to Alex and<00:11:52.519> favian<00:11:52.959> about<00:11:53.120> it<00:11:53.839> um<00:11:54.040> it's<00:11:54.480> not<00:11:54.760> picky 00:11:55.069 --> 00:11:55.079 align:start position:0% and favian about it um it's not picky 00:11:55.079 --> 00:11:57.230 align:start position:0% and favian about it um it's not picky things<00:11:55.440> but<00:11:55.959> it's<00:11:56.160> like<00:11:56.399> very<00:11:56.600> small<00:11:56.920> change 00:11:57.230 --> 00:11:57.240 align:start position:0% things but it's like very small change 00:11:57.240 --> 00:11:59.790 align:start position:0% things but it's like very small change but<00:11:57.360> it<00:11:57.440> means<00:11:57.800> that<00:11:58.040> if<00:11:58.160> we<00:11:58.279> don't<00:11:59.079> um 00:11:59.790 --> 00:11:59.800 align:start position:0% but it means that if we don't um 00:11:59.800 --> 00:12:02.629 align:start position:0% but it means that if we don't um if<00:11:59.920> we<00:12:00.040> don't<00:12:00.720> think<00:12:00.959> about<00:12:01.200> it<00:12:01.440> then<00:12:01.560> it<00:12:01.680> means 00:12:02.629 --> 00:12:02.639 align:start position:0% if we don't think about it then it means 00:12:02.639 --> 00:12:04.470 align:start position:0% if we don't think about it then it means future<00:12:03.160> stuff<00:12:03.399> won't<00:12:03.639> be 00:12:04.470 --> 00:12:04.480 align:start position:0% future stuff won't be 00:12:04.480 --> 00:12:07.990 align:start position:0% future stuff won't be compatible<00:12:05.480> then<00:12:06.240> um<00:12:06.920> which<00:12:07.040> is<00:12:07.279> going<00:12:07.399> to<00:12:07.519> be 00:12:07.990 --> 00:12:08.000 align:start position:0% compatible then um which is going to be 00:12:08.000 --> 00:12:10.430 align:start position:0% compatible then um which is going to be probably<00:12:08.560> at<00:12:09.000> next<00:12:09.240> year's<00:12:09.519> Devcon<00:12:10.040> when<00:12:10.279> the 00:12:10.430 --> 00:12:10.440 align:start position:0% probably at next year's Devcon when the 00:12:10.440 --> 00:12:11.990 align:start position:0% probably at next year's Devcon when the tokens<00:12:10.880> have<00:12:11.040> been<00:12:11.200> flourishing<00:12:11.760> then<00:12:11.880> we 00:12:11.990 --> 00:12:12.000 align:start position:0% tokens have been flourishing then we 00:12:12.000 --> 00:12:13.829 align:start position:0% tokens have been flourishing then we need<00:12:12.120> to<00:12:12.240> start<00:12:12.480> talking<00:12:12.760> about<00:12:13.040> registry 00:12:13.829 --> 00:12:13.839 align:start position:0% need to start talking about registry 00:12:13.839 --> 00:12:16.910 align:start position:0% need to start talking about registry standards<00:12:14.839> um<00:12:15.800> I<00:12:15.880> say<00:12:16.079> grown<00:12:16.440> there<00:12:16.639> because 00:12:16.910 --> 00:12:16.920 align:start position:0% standards um I say grown there because 00:12:16.920 --> 00:12:18.829 align:start position:0% standards um I say grown there because it's<00:12:17.240> it<00:12:17.480> see<00:12:17.680> it<00:12:17.800> seems<00:12:18.000> like<00:12:18.160> a<00:12:18.279> lot<00:12:18.440> more 00:12:18.829 --> 00:12:18.839 align:start position:0% it's it see it seems like a lot more 00:12:18.839 --> 00:12:20.750 align:start position:0% it's it see it seems like a lot more difficult<00:12:19.079> problem<00:12:19.440> than<00:12:19.639> token 00:12:20.750 --> 00:12:20.760 align:start position:0% difficult problem than token 00:12:20.760 --> 00:12:23.710 align:start position:0% difficult problem than token standards<00:12:21.760> um<00:12:22.160> so<00:12:22.480> it's<00:12:23.040> the<00:12:23.240> question<00:12:23.560> of 00:12:23.710 --> 00:12:23.720 align:start position:0% standards um so it's the question of 00:12:23.720 --> 00:12:25.550 align:start position:0% standards um so it's the question of should<00:12:23.920> the<00:12:24.040> metadata<00:12:24.720> of<00:12:24.839> the<00:12:25.000> token<00:12:25.320> be<00:12:25.480> in 00:12:25.550 --> 00:12:25.560 align:start position:0% should the metadata of the token be in 00:12:25.560 --> 00:12:27.470 align:start position:0% should the metadata of the token be in the<00:12:25.760> contract<00:12:26.160> itself<00:12:26.519> or<00:12:26.680> should<00:12:26.839> it<00:12:26.959> be<00:12:27.079> in<00:12:27.160> a 00:12:27.470 --> 00:12:27.480 align:start position:0% the contract itself or should it be in a 00:12:27.480 --> 00:12:29.829 align:start position:0% the contract itself or should it be in a registry<00:12:28.480> um<00:12:28.720> and<00:12:28.839> it's<00:12:28.959> still<00:12:29.240> up<00:12:29.360> to<00:12:29.480> debate 00:12:29.829 --> 00:12:29.839 align:start position:0% registry um and it's still up to debate 00:12:29.839 --> 00:12:32.509 align:start position:0% registry um and it's still up to debate which<00:12:29.959> one<00:12:30.160> is<00:12:30.399> best<00:12:31.160> we<00:12:31.240> don't<00:12:31.519> actually<00:12:31.760> know 00:12:32.509 --> 00:12:32.519 align:start position:0% which one is best we don't actually know 00:12:32.519 --> 00:12:34.189 align:start position:0% which one is best we don't actually know um<00:12:32.639> because<00:12:32.800> in<00:12:32.959> C<00:12:33.199> some<00:12:33.399> circumstances<00:12:34.120> you 00:12:34.189 --> 00:12:34.199 align:start position:0% um because in C some circumstances you 00:12:34.199 --> 00:12:36.509 align:start position:0% um because in C some circumstances you don't<00:12:34.440> actually<00:12:34.639> need<00:12:34.839> metadata<00:12:35.639> sometimes 00:12:36.509 --> 00:12:36.519 align:start position:0% don't actually need metadata sometimes 00:12:36.519 --> 00:12:38.509 align:start position:0% don't actually need metadata sometimes you<00:12:36.639> want<00:12:36.800> it<00:12:36.920> to<00:12:37.000> be<00:12:37.120> in<00:12:37.199> a<00:12:37.320> registry<00:12:38.240> doesn't 00:12:38.509 --> 00:12:38.519 align:start position:0% you want it to be in a registry doesn't 00:12:38.519 --> 00:12:42.430 align:start position:0% you want it to be in a registry doesn't matter<00:12:39.279> um<00:12:40.160> then<00:12:40.519> the<00:12:40.720> question<00:12:41.160> of<00:12:41.800> like<00:12:42.120> the 00:12:42.430 --> 00:12:42.440 align:start position:0% matter um then the question of like the 00:12:42.440 --> 00:12:45.189 align:start position:0% matter um then the question of like the the<00:12:42.560> issue<00:12:42.839> of<00:12:43.560> uh<00:12:43.680> creating<00:12:44.079> a<00:12:44.160> lot<00:12:44.399> of<00:12:44.600> tokens 00:12:45.189 --> 00:12:45.199 align:start position:0% the issue of uh creating a lot of tokens 00:12:45.199 --> 00:12:47.870 align:start position:0% the issue of uh creating a lot of tokens for<00:12:45.440> various<00:12:45.720> use<00:12:46.120> cases<00:12:47.120> um<00:12:47.279> is<00:12:47.360> it<00:12:47.560> possible 00:12:47.870 --> 00:12:47.880 align:start position:0% for various use cases um is it possible 00:12:47.880 --> 00:12:50.230 align:start position:0% for various use cases um is it possible to<00:12:48.079> make<00:12:48.240> it<00:12:48.440> cheap<00:12:49.199> and<00:12:49.399> flexible<00:12:50.120> and 00:12:50.230 --> 00:12:50.240 align:start position:0% to make it cheap and flexible and 00:12:50.240 --> 00:12:52.030 align:start position:0% to make it cheap and flexible and modular<00:12:50.800> enough<00:12:51.079> so<00:12:51.279> that<00:12:51.480> you<00:12:51.600> can<00:12:51.839> have 00:12:52.030 --> 00:12:52.040 align:start position:0% modular enough so that you can have 00:12:52.040 --> 00:12:54.470 align:start position:0% modular enough so that you can have these<00:12:52.320> kind<00:12:52.480> of<00:12:53.160> um<00:12:53.480> several<00:12:53.800> ones<00:12:54.120> but<00:12:54.279> keep 00:12:54.470 --> 00:12:54.480 align:start position:0% these kind of um several ones but keep 00:12:54.480 --> 00:12:56.350 align:start position:0% these kind of um several ones but keep the<00:12:54.639> nice<00:12:54.880> standard<00:12:55.240> set<00:12:55.399> of 00:12:56.350 --> 00:12:56.360 align:start position:0% the nice standard set of 00:12:56.360 --> 00:13:00.790 align:start position:0% the nice standard set of apis<00:12:57.360> then<00:12:57.680> I<00:12:57.800> think<00:12:58.040> generally<00:12:58.959> um 00:13:00.790 --> 00:13:00.800 align:start position:0% apis then I think generally um 00:13:00.800 --> 00:13:02.949 align:start position:0% apis then I think generally um I<00:13:00.880> think<00:13:01.079> generally<00:13:01.920> there's<00:13:02.199> still<00:13:02.519> the<00:13:02.800> the 00:13:02.949 --> 00:13:02.959 align:start position:0% I think generally there's still the the 00:13:02.959 --> 00:13:05.430 align:start position:0% I think generally there's still the the issue<00:13:03.360> of<00:13:04.360> it's<00:13:04.560> great<00:13:04.800> that<00:13:04.959> we<00:13:05.079> have<00:13:05.240> all 00:13:05.430 --> 00:13:05.440 align:start position:0% issue of it's great that we have all 00:13:05.440 --> 00:13:07.150 align:start position:0% issue of it's great that we have all these<00:13:05.639> standards<00:13:06.160> and<00:13:06.320> hopefully<00:13:06.680> people<00:13:06.880> use 00:13:07.150 --> 00:13:07.160 align:start position:0% these standards and hopefully people use 00:13:07.160 --> 00:13:08.550 align:start position:0% these standards and hopefully people use them<00:13:07.399> to<00:13:07.600> make<00:13:07.839> everything<00:13:08.199> nicely 00:13:08.550 --> 00:13:08.560 align:start position:0% them to make everything nicely 00:13:08.560 --> 00:13:11.310 align:start position:0% them to make everything nicely interoperable<00:13:09.399> but<00:13:09.800> there's<00:13:10.040> still<00:13:10.279> no<00:13:10.959> clear 00:13:11.310 --> 00:13:11.320 align:start position:0% interoperable but there's still no clear 00:13:11.320 --> 00:13:13.670 align:start position:0% interoperable but there's still no clear way<00:13:11.600> which<00:13:11.760> we<00:13:11.920> can<00:13:12.279> think<00:13:12.480> about<00:13:12.839> how<00:13:13.000> we 00:13:13.670 --> 00:13:13.680 align:start position:0% way which we can think about how we 00:13:13.680 --> 00:13:15.430 align:start position:0% way which we can think about how we potentially<00:13:14.240> extend<00:13:14.760> standards<00:13:15.199> in<00:13:15.320> the 00:13:15.430 --> 00:13:15.440 align:start position:0% potentially extend standards in the 00:13:15.440 --> 00:13:17.389 align:start position:0% potentially extend standards in the future<00:13:15.760> so<00:13:15.959> hopefully<00:13:16.360> the<00:13:16.800> community<00:13:17.240> can 00:13:17.389 --> 00:13:17.399 align:start position:0% future so hopefully the community can 00:13:17.399 --> 00:13:19.230 align:start position:0% future so hopefully the community can give<00:13:17.600> some<00:13:17.800> ideas<00:13:18.160> about<00:13:18.360> how<00:13:18.519> we<00:13:18.639> go<00:13:18.839> forth 00:13:19.230 --> 00:13:19.240 align:start position:0% give some ideas about how we go forth 00:13:19.240 --> 00:13:21.310 align:start position:0% give some ideas about how we go forth and<00:13:19.839> once<00:13:20.040> the<00:13:20.160> standard's<00:13:20.560> been<00:13:20.760> defined<00:13:21.160> do 00:13:21.310 --> 00:13:21.320 align:start position:0% and once the standard's been defined do 00:13:21.320 --> 00:13:24.069 align:start position:0% and once the standard's been defined do we<00:13:21.959> do<00:13:22.240> does<00:13:22.440> everyone<00:13:22.720> go<00:13:23.079> yay<00:13:23.600> like<00:13:23.760> raise 00:13:24.069 --> 00:13:24.079 align:start position:0% we do does everyone go yay like raise 00:13:24.079 --> 00:13:26.430 align:start position:0% we do does everyone go yay like raise hands<00:13:24.360> or<00:13:24.760> like<00:13:24.880> what<00:13:25.000> does<00:13:25.160> the<00:13:25.399> process<00:13:26.160> look 00:13:26.430 --> 00:13:26.440 align:start position:0% hands or like what does the process look 00:13:26.440 --> 00:13:28.790 align:start position:0% hands or like what does the process look like<00:13:27.000> um<00:13:27.519> so<00:13:28.120> that's<00:13:28.279> something<00:13:28.480> we<00:13:28.560> need<00:13:28.680> to 00:13:28.790 --> 00:13:28.800 align:start position:0% like um so that's something we need to 00:13:28.800 --> 00:13:31.389 align:start position:0% like um so that's something we need to consider<00:13:29.560> and<00:13:29.720> the<00:13:29.880> great<00:13:30.079> thing<00:13:30.320> is<00:13:31.079> um<00:13:31.320> I 00:13:31.389 --> 00:13:31.399 align:start position:0% consider and the great thing is um I 00:13:31.399 --> 00:13:33.470 align:start position:0% consider and the great thing is um I think<00:13:31.560> it's<00:13:31.800> tomorrow<00:13:32.800> if<00:13:32.880> you<00:13:33.000> care<00:13:33.240> about 00:13:33.470 --> 00:13:33.480 align:start position:0% think it's tomorrow if you care about 00:13:33.480 --> 00:13:35.829 align:start position:0% think it's tomorrow if you care about this<00:13:33.639> kind<00:13:33.760> of<00:13:33.920> thing<00:13:34.560> um<00:13:35.079> then<00:13:35.560> there's<00:13:35.720> a 00:13:35.829 --> 00:13:35.839 align:start position:0% this kind of thing um then there's a 00:13:35.839 --> 00:13:38.710 align:start position:0% this kind of thing um then there's a standards<00:13:36.240> panel<00:13:36.480> tomorrow<00:13:36.880> which<00:13:37.120> we<00:13:37.720> um 00:13:38.710 --> 00:13:38.720 align:start position:0% standards panel tomorrow which we um 00:13:38.720 --> 00:13:40.829 align:start position:0% standards panel tomorrow which we um which<00:13:38.920> we<00:13:39.079> should<00:13:39.480> uh<00:13:39.600> all<00:13:39.800> attend<00:13:40.360> so<00:13:40.560> we<00:13:40.680> can 00:13:40.829 --> 00:13:40.839 align:start position:0% which we should uh all attend so we can 00:13:40.839 --> 00:13:44.069 align:start position:0% which we should uh all attend so we can build<00:13:41.560> many<00:13:41.839> apps<00:13:42.079> that<00:13:42.680> interoperate<00:13:43.680> um<00:13:43.959> I 00:13:44.069 --> 00:13:44.079 align:start position:0% build many apps that interoperate um I 00:13:44.079 --> 00:13:47.189 align:start position:0% build many apps that interoperate um I have<00:13:44.360> a<00:13:45.320> I<00:13:45.519> purposly<00:13:45.880> left<00:13:46.079> some<00:13:46.279> few<00:13:46.760> minutes 00:13:47.189 --> 00:13:47.199 align:start position:0% have a I purposly left some few minutes 00:13:47.199 --> 00:13:51.389 align:start position:0% have a I purposly left some few minutes for<00:13:48.040> uh<00:13:48.160> question<00:13:48.480> and<00:13:48.800> answers<00:13:49.800> um<00:13:50.160> so<00:13:51.160> if<00:13:51.240> you 00:13:51.389 --> 00:13:51.399 align:start position:0% for uh question and answers um so if you 00:13:51.399 --> 00:13:54.389 align:start position:0% for uh question and answers um so if you have<00:13:51.560> any<00:13:51.759> questions<00:13:52.199> please<00:13:52.600> ask<00:13:53.199> me<00:13:54.199> that's 00:13:54.389 --> 00:13:54.399 align:start position:0% have any questions please ask me that's 00:13:54.399 --> 00:14:00.110 align:start position:0% have any questions please ask me that's fun<00:13:55.079> durables<00:13:55.720> not<00:13:55.880> funes 00:14:00.110 --> 00:14:00.120 align:start position:0% 00:14:00.120 --> 00:14:04.710 align:start position:0% see<00:14:00.519> is<00:14:01.120> that<00:14:02.440> yeah<00:14:03.440> one<00:14:03.720> yeah 00:14:04.710 --> 00:14:04.720 align:start position:0% see is that yeah one yeah 00:14:04.720 --> 00:14:07.230 align:start position:0% see is that yeah one yeah okay<00:14:05.720> so<00:14:06.040> yeah<00:14:06.320> um<00:14:06.480> yeah<00:14:06.680> questions<00:14:07.040> yeah 00:14:07.230 --> 00:14:07.240 align:start position:0% okay so yeah um yeah questions yeah 00:14:07.240 --> 00:14:10.829 align:start position:0% okay so yeah um yeah questions yeah they're 00:14:10.829 --> 00:14:10.839 align:start position:0% 00:14:10.839 --> 00:14:13.269 align:start position:0% back<00:14:11.839> so<00:14:12.040> in<00:14:12.160> the<00:14:12.279> beginning<00:14:12.639> of<00:14:12.800> your<00:14:13.000> talk 00:14:13.269 --> 00:14:13.279 align:start position:0% back so in the beginning of your talk 00:14:13.279 --> 00:14:15.629 align:start position:0% back so in the beginning of your talk you<00:14:13.440> mentioned<00:14:14.000> the<00:14:14.199> token<00:14:14.560> creation<00:14:15.279> built 00:14:15.629 --> 00:14:15.639 align:start position:0% you mentioned the token creation built 00:14:15.639 --> 00:14:18.910 align:start position:0% you mentioned the token creation built into<00:14:15.920> the<00:14:16.079> Mist<00:14:16.639> wallet<00:14:17.639> uh<00:14:18.120> how<00:14:18.519> strongly<00:14:18.800> are 00:14:18.910 --> 00:14:18.920 align:start position:0% into the Mist wallet uh how strongly are 00:14:18.920 --> 00:14:21.949 align:start position:0% into the Mist wallet uh how strongly are you<00:14:19.120> committed<00:14:19.720> to<00:14:20.040> stay<00:14:20.399> compatible<00:14:21.120> with<00:14:21.560> uh 00:14:21.949 --> 00:14:21.959 align:start position:0% you committed to stay compatible with uh 00:14:21.959 --> 00:14:25.710 align:start position:0% you committed to stay compatible with uh with<00:14:22.160> those<00:14:22.800> tokens<00:14:23.800> um<00:14:24.079> those<00:14:24.240> ones<00:14:24.600> are<00:14:25.600> as 00:14:25.710 --> 00:14:25.720 align:start position:0% with those tokens um those ones are as 00:14:25.720 --> 00:14:27.710 align:start position:0% with those tokens um those ones are as far<00:14:25.880> as<00:14:25.959> I<00:14:26.079> know<00:14:26.240> I<00:14:26.320> looked<00:14:26.480> at<00:14:26.600> the<00:14:26.720> code<00:14:27.199> is 00:14:27.710 --> 00:14:27.720 align:start position:0% far as I know I looked at the code is 00:14:27.720 --> 00:14:30.470 align:start position:0% far as I know I looked at the code is it's<00:14:28.199> it<00:14:28.680> it<00:14:28.759> didn't<00:14:29.160> deviate<00:14:29.560> at<00:14:29.720> all<00:14:30.240> to 00:14:30.470 --> 00:14:30.480 align:start position:0% it's it it didn't deviate at all to 00:14:30.480 --> 00:14:32.110 align:start position:0% it's it it didn't deviate at all to normal<00:14:30.759> standards<00:14:31.240> except<00:14:31.639> the<00:14:31.720> order<00:14:31.959> of 00:14:32.110 --> 00:14:32.120 align:start position:0% normal standards except the order of 00:14:32.120 --> 00:14:34.189 align:start position:0% normal standards except the order of parameters<00:14:33.000> and<00:14:33.160> we<00:14:33.279> haven't<00:14:33.560> deployed<00:14:34.000> any 00:14:34.189 --> 00:14:34.199 align:start position:0% parameters and we haven't deployed any 00:14:34.199 --> 00:14:36.069 align:start position:0% parameters and we haven't deployed any tokens<00:14:34.519> ourselves<00:14:34.959> so<00:14:35.160> it's<00:14:35.480> it's<00:14:35.600> just<00:14:35.839> easy 00:14:36.069 --> 00:14:36.079 align:start position:0% tokens ourselves so it's it's just easy 00:14:36.079 --> 00:14:37.550 align:start position:0% tokens ourselves so it's it's just easy to<00:14:36.240> switch<00:14:36.519> to<00:14:36.759> the<00:14:36.880> changing<00:14:37.279> of<00:14:37.440> the 00:14:37.550 --> 00:14:37.560 align:start position:0% to switch to the changing of the 00:14:37.560 --> 00:14:39.910 align:start position:0% to switch to the changing of the parameters<00:14:38.399> so<00:14:38.680> to<00:14:38.880> answer<00:14:39.120> your<00:14:39.320> question 00:14:39.910 --> 00:14:39.920 align:start position:0% parameters so to answer your question 00:14:39.920 --> 00:14:42.150 align:start position:0% parameters so to answer your question it's<00:14:40.199> they<00:14:40.320> will<00:14:40.480> be<00:14:40.639> compatible<00:14:41.639> but<00:14:41.920> those 00:14:42.150 --> 00:14:42.160 align:start position:0% it's they will be compatible but those 00:14:42.160 --> 00:14:44.389 align:start position:0% it's they will be compatible but those tokens<00:14:42.519> don't<00:14:42.759> have<00:14:43.000> as<00:14:43.120> far<00:14:43.279> as<00:14:43.360> I<00:14:43.519> know<00:14:44.040> and 00:14:44.389 --> 00:14:44.399 align:start position:0% tokens don't have as far as I know and 00:14:44.399 --> 00:14:46.710 align:start position:0% tokens don't have as far as I know and Alex<00:14:44.720> and<00:14:44.880> Fabion<00:14:45.320> can<00:14:45.519> correct<00:14:45.800> me<00:14:46.040> but<00:14:46.519> those 00:14:46.710 --> 00:14:46.720 align:start position:0% Alex and Fabion can correct me but those 00:14:46.720 --> 00:14:48.790 align:start position:0% Alex and Fabion can correct me but those tokens<00:14:47.079> don't<00:14:47.279> have<00:14:47.440> approval<00:14:48.120> systems<00:14:48.639> in 00:14:48.790 --> 00:14:48.800 align:start position:0% tokens don't have approval systems in 00:14:48.800 --> 00:14:52.310 align:start position:0% tokens don't have approval systems in them<00:14:49.639> so<00:14:50.120> uh<00:14:50.279> they<00:14:50.480> only<00:14:51.199> their<00:14:51.320> only<00:14:51.880> apis 00:14:52.310 --> 00:14:52.320 align:start position:0% them so uh they only their only apis 00:14:52.320 --> 00:14:55.310 align:start position:0% them so uh they only their only apis they<00:14:52.519> support<00:14:52.880> is<00:14:53.079> transfers<00:14:53.920> at<00:14:54.040> the<00:14:54.320> moment 00:14:55.310 --> 00:14:55.320 align:start position:0% they support is transfers at the moment 00:14:55.320 --> 00:15:00.550 align:start position:0% they support is transfers at the moment but<00:14:55.440> I<00:14:55.560> might<00:14:55.720> be<00:14:55.880> wrong<00:14:56.240> I<00:14:56.320> might<00:14:56.480> be<00:14:56.639> wrong 00:15:00.550 --> 00:15:00.560 align:start position:0% 00:15:00.560 --> 00:15:02.069 align:start position:0% is<00:15:00.680> there<00:15:00.839> another 00:15:02.069 --> 00:15:02.079 align:start position:0% is there another 00:15:02.079 --> 00:15:04.069 align:start position:0% is there another question<00:15:03.079> we<00:15:03.199> have<00:15:03.320> one<00:15:03.480> more<00:15:03.639> we<00:15:03.759> have<00:15:03.920> time 00:15:04.069 --> 00:15:04.079 align:start position:0% question we have one more we have time 00:15:04.079 --> 00:15:13.389 align:start position:0% question we have one more we have time for<00:15:04.240> one<00:15:04.399> more<00:15:05.199> question<00:15:06.199> Tiff<00:15:06.639> or<00:15:06.800> someone 00:15:13.389 --> 00:15:13.399 align:start position:0% 00:15:13.399 --> 00:15:18.470 align:start position:0% yes<00:15:14.800> thanks<00:15:15.800> um<00:15:15.959> so<00:15:16.160> you<00:15:16.240> mentioned<00:15:17.240> uh<00:15:17.759> the 00:15:18.470 --> 00:15:18.480 align:start position:0% yes thanks um so you mentioned uh the 00:15:18.480 --> 00:15:20.189 align:start position:0% yes thanks um so you mentioned uh the problem<00:15:18.800> with<00:15:18.959> storing<00:15:19.320> the<00:15:19.440> metadata 00:15:20.189 --> 00:15:20.199 align:start position:0% problem with storing the metadata 00:15:20.199 --> 00:15:22.189 align:start position:0% problem with storing the metadata whether<00:15:20.440> that's<00:15:20.600> on<00:15:20.720> the<00:15:20.920> contract<00:15:21.560> or<00:15:21.800> in<00:15:21.920> a 00:15:22.189 --> 00:15:22.199 align:start position:0% whether that's on the contract or in a 00:15:22.199 --> 00:15:24.509 align:start position:0% whether that's on the contract or in a registry<00:15:23.199> um<00:15:23.360> would<00:15:23.480> it<00:15:23.600> not<00:15:23.800> be<00:15:24.000> possible<00:15:24.320> to 00:15:24.509 --> 00:15:24.519 align:start position:0% registry um would it not be possible to 00:15:24.519 --> 00:15:27.310 align:start position:0% registry um would it not be possible to use<00:15:25.040> ipfs<00:15:26.040> and<00:15:26.199> do<00:15:26.320> you<00:15:26.399> see<00:15:26.600> any<00:15:26.839> problems 00:15:27.310 --> 00:15:27.320 align:start position:0% use ipfs and do you see any problems 00:15:27.320 --> 00:15:30.150 align:start position:0% use ipfs and do you see any problems with<00:15:27.560> using<00:15:27.920> that<00:15:28.079> approach<00:15:29.319> yeah<00:15:29.440> I<00:15:29.519> mean<00:15:30.000> you 00:15:30.150 --> 00:15:30.160 align:start position:0% with using that approach yeah I mean you 00:15:30.160 --> 00:15:32.629 align:start position:0% with using that approach yeah I mean you you<00:15:30.319> can<00:15:30.600> use<00:15:31.079> ipfs<00:15:31.920> I<00:15:31.959> mean<00:15:32.120> it's<00:15:32.279> not<00:15:32.399> a<00:15:32.519> lot 00:15:32.629 --> 00:15:32.639 align:start position:0% you can use ipfs I mean it's not a lot 00:15:32.639 --> 00:15:34.150 align:start position:0% you can use ipfs I mean it's not a lot of<00:15:32.800> data<00:15:33.040> you<00:15:33.160> need<00:15:33.319> to<00:15:33.399> store<00:15:33.680> it's<00:15:33.880> stff 00:15:34.150 --> 00:15:34.160 align:start position:0% of data you need to store it's stff 00:15:34.160 --> 00:15:36.829 align:start position:0% of data you need to store it's stff stuff<00:15:34.399> like<00:15:34.560> you<00:15:34.680> know<00:15:35.399> um<00:15:35.800> a<00:15:36.000> name<00:15:36.319> and<00:15:36.600> maybe 00:15:36.829 --> 00:15:36.839 align:start position:0% stuff like you know um a name and maybe 00:15:36.839 --> 00:15:39.030 align:start position:0% stuff like you know um a name and maybe a<00:15:37.040> symbol<00:15:37.720> or<00:15:38.240> and<00:15:38.360> then<00:15:38.560> like<00:15:38.759> how<00:15:38.880> many 00:15:39.030 --> 00:15:39.040 align:start position:0% a symbol or and then like how many 00:15:39.040 --> 00:15:40.629 align:start position:0% a symbol or and then like how many tokens<00:15:39.360> are<00:15:39.480> in<00:15:39.639> circulation<00:15:40.279> that<00:15:40.399> kind<00:15:40.519> of 00:15:40.629 --> 00:15:40.639 align:start position:0% tokens are in circulation that kind of 00:15:40.639 --> 00:15:42.749 align:start position:0% tokens are in circulation that kind of stuff<00:15:40.880> so<00:15:41.480> it's<00:15:41.639> fine<00:15:41.839> to<00:15:42.000> store<00:15:42.240> it<00:15:42.480> on<00:15:42.639> the 00:15:42.749 --> 00:15:42.759 align:start position:0% stuff so it's fine to store it on the 00:15:42.759 --> 00:15:44.350 align:start position:0% stuff so it's fine to store it on the blockchain<00:15:43.199> I<00:15:43.279> think<00:15:43.519> the<00:15:43.720> the<00:15:43.839> biggest<00:15:44.120> issue 00:15:44.350 --> 00:15:44.360 align:start position:0% blockchain I think the the biggest issue 00:15:44.360 --> 00:15:47.389 align:start position:0% blockchain I think the the biggest issue is<00:15:44.560> actually<00:15:44.759> more<00:15:45.440> the<00:15:45.639> naming<00:15:46.000> of<00:15:46.399> things 00:15:47.389 --> 00:15:47.399 align:start position:0% is actually more the naming of things 00:15:47.399 --> 00:15:49.269 align:start position:0% is actually more the naming of things and<00:15:48.000> um<00:15:48.240> we've<00:15:48.440> already<00:15:48.639> seen<00:15:48.959> that<00:15:49.120> people 00:15:49.269 --> 00:15:49.279 align:start position:0% and um we've already seen that people 00:15:49.279 --> 00:15:51.829 align:start position:0% and um we've already seen that people have<00:15:49.440> created<00:15:49.800> tokens<00:15:50.639> that<00:15:51.199> have<00:15:51.440> exactly 00:15:51.829 --> 00:15:51.839 align:start position:0% have created tokens that have exactly 00:15:51.839 --> 00:15:54.150 align:start position:0% have created tokens that have exactly the<00:15:51.959> same<00:15:52.199> names<00:15:52.480> as<00:15:52.720> other<00:15:53.160> cryptocurrencies 00:15:54.150 --> 00:15:54.160 align:start position:0% the same names as other cryptocurrencies 00:15:54.160 --> 00:15:56.949 align:start position:0% the same names as other cryptocurrencies which<00:15:54.319> is<00:15:54.560> not<00:15:54.880> the<00:15:55.040> same<00:15:55.319> thing<00:15:56.040> so<00:15:56.519> you<00:15:56.639> know 00:15:56.949 --> 00:15:56.959 align:start position:0% which is not the same thing so you know 00:15:56.959 --> 00:15:58.230 align:start position:0% which is not the same thing so you know I<00:15:57.040> mean<00:15:57.319> that<00:15:57.440> will<00:15:57.639> always<00:15:57.800> be<00:15:57.959> the<00:15:58.040> case 00:15:58.230 --> 00:15:58.240 align:start position:0% I mean that will always be the case 00:15:58.240 --> 00:16:00.189 align:start position:0% I mean that will always be the case people<00:15:58.440> will<00:15:58.560> be<00:15:58.639> able<00:15:58.800> to<00:15:59.079> do<00:15:59.240> that<00:15:59.360> anyway 00:16:00.189 --> 00:16:00.199 align:start position:0% people will be able to do that anyway 00:16:00.199 --> 00:16:02.590 align:start position:0% people will be able to do that anyway but<00:16:00.519> uh<00:16:00.959> you<00:16:01.240> sort<00:16:01.440> of<00:16:01.759> it<00:16:01.880> would<00:16:02.040> be<00:16:02.199> ideal 00:16:02.590 --> 00:16:02.600 align:start position:0% but uh you sort of it would be ideal 00:16:02.600 --> 00:16:05.309 align:start position:0% but uh you sort of it would be ideal that<00:16:02.759> you<00:16:02.880> know<00:16:03.319> if<00:16:03.480> I<00:16:03.759> create<00:16:04.759> uh<00:16:04.920> Simon 00:16:05.309 --> 00:16:05.319 align:start position:0% that you know if I create uh Simon 00:16:05.319 --> 00:16:08.189 align:start position:0% that you know if I create uh Simon tokens<00:16:05.800> and<00:16:06.000> I<00:16:06.319> decide<00:16:06.800> my<00:16:07.040> metad<00:16:07.319> datas<00:16:07.560> in<00:16:07.680> a 00:16:08.189 --> 00:16:08.199 align:start position:0% tokens and I decide my metad datas in a 00:16:08.199 --> 00:16:10.350 align:start position:0% tokens and I decide my metad datas in a in<00:16:08.319> the<00:16:08.440> token<00:16:08.800> itself<00:16:09.440> uh<00:16:09.639> token<00:16:09.959> contract 00:16:10.350 --> 00:16:10.360 align:start position:0% in the token itself uh token contract 00:16:10.360 --> 00:16:12.230 align:start position:0% in the token itself uh token contract itself<00:16:11.040> and<00:16:11.160> then<00:16:11.279> you<00:16:11.399> know<00:16:11.600> 5<00:16:11.839> years<00:16:12.040> from 00:16:12.230 --> 00:16:12.240 align:start position:0% itself and then you know 5 years from 00:16:12.240 --> 00:16:14.430 align:start position:0% itself and then you know 5 years from now<00:16:12.519> someone<00:16:13.040> a<00:16:13.160> new<00:16:13.360> registry<00:16:13.839> pops<00:16:14.079> up<00:16:14.279> that 00:16:14.430 --> 00:16:14.440 align:start position:0% now someone a new registry pops up that 00:16:14.440 --> 00:16:16.470 align:start position:0% now someone a new registry pops up that everyone<00:16:14.720> uses<00:16:15.040> for<00:16:15.199> token<00:16:15.480> Registries<00:16:16.360> and 00:16:16.470 --> 00:16:16.480 align:start position:0% everyone uses for token Registries and 00:16:16.480 --> 00:16:19.189 align:start position:0% everyone uses for token Registries and someone<00:16:16.759> just<00:16:16.920> steals<00:16:17.360> that<00:16:17.560> name<00:16:18.279> and<00:16:18.720> then 00:16:19.189 --> 00:16:19.199 align:start position:0% someone just steals that name and then 00:16:19.199 --> 00:16:20.749 align:start position:0% someone just steals that name and then how<00:16:19.360> does<00:16:19.480> this<00:16:19.639> interoperate<00:16:20.480> like<00:16:20.600> for 00:16:20.749 --> 00:16:20.759 align:start position:0% how does this interoperate like for 00:16:20.759 --> 00:16:22.309 align:start position:0% how does this interoperate like for example<00:16:21.079> a<00:16:21.199> decentralized<00:16:21.839> exchange<00:16:22.160> like 00:16:22.309 --> 00:16:22.319 align:start position:0% example a decentralized exchange like 00:16:22.319 --> 00:16:24.470 align:start position:0% example a decentralized exchange like ether<00:16:22.600> X<00:16:22.759> for<00:16:22.920> example<00:16:23.600> are<00:16:23.800> they<00:16:23.959> going<00:16:24.040> to 00:16:24.470 --> 00:16:24.480 align:start position:0% ether X for example are they going to 00:16:24.480 --> 00:16:26.829 align:start position:0% ether X for example are they going to call<00:16:25.120> the<00:16:25.279> information<00:16:25.800> from<00:16:25.920> a<00:16:26.120> registry<00:16:26.680> or 00:16:26.829 --> 00:16:26.839 align:start position:0% call the information from a registry or 00:16:26.839 --> 00:16:28.189 align:start position:0% call the information from a registry or are<00:16:26.959> they<00:16:27.079> going<00:16:27.199> to<00:16:27.319> talk<00:16:27.519> to<00:16:27.759> the<00:16:27.920> Token 00:16:28.189 --> 00:16:28.199 align:start position:0% are they going to talk to the Token 00:16:28.199 --> 00:16:29.790 align:start position:0% are they going to talk to the Token contract<00:16:28.560> itself<00:16:28.920> to<00:16:29.279> to<00:16:29.480> get<00:16:29.600> that 00:16:29.790 --> 00:16:29.800 align:start position:0% contract itself to to get that 00:16:29.800 --> 00:16:31.230 align:start position:0% contract itself to to get that information<00:16:30.319> and<00:16:30.440> it's<00:16:30.600> not<00:16:30.959> it's<00:16:31.079> not 00:16:31.230 --> 00:16:31.240 align:start position:0% information and it's not it's not 00:16:31.240 --> 00:16:35.110 align:start position:0% information and it's not it's not obvious<00:16:31.560> yet<00:16:31.800> what<00:16:31.920> we<00:16:32.040> should 00:16:35.110 --> 00:16:35.120 align:start position:0% 00:16:35.120 --> 00:16:37.430 align:start position:0% do<00:16:36.120> cool<00:16:36.480> thank<00:16:36.600> you<00:16:36.680> very<00:16:36.800> much<00:16:37.079> guys 00:16:37.430 --> 00:16:37.440 align:start position:0% do cool thank you very much guys 00:16:37.440 --> 00:16:42.630 align:start position:0% do cool thank you very much guys appreciate<00:16:37.839> it 00:16:42.630 --> 00:16:42.640 align:start position:0% 00:16:42.640 --> 00:16:46.519 align:start position:0% [Music]