WEBVTT
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so<00:00:05.390><c> when</c><00:00:05.510><c> I</c><00:00:05.540><c> speak</c><00:00:05.780><c> today</c><00:00:05.960><c> about</c><00:00:06.110><c> what</c><00:00:06.500><c> I</c><00:00:06.530><c> think</c>

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so when I speak today about what I think
 

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so when I speak today about what I think
will<00:00:07.040><c> be</c><00:00:07.070><c> the</c><00:00:07.279><c> broad</c><00:00:07.490><c> architecture</c><00:00:08.330><c> of</c><00:00:08.480><c> the</c>

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will be the broad architecture of the
 

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will be the broad architecture of the
decentralized<00:00:09.680><c> World</c><00:00:10.190><c> Wide</c><00:00:10.430><c> Web</c><00:00:10.460><c> and</c><00:00:10.880><c> how</c><00:00:11.300><c> we</c>

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decentralized World Wide Web and how we
 

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decentralized World Wide Web and how we
will<00:00:11.660><c> get</c><00:00:11.809><c> there</c><00:00:12.050><c> and</c><00:00:12.760><c> to</c><00:00:13.760><c> give</c><00:00:13.910><c> away</c><00:00:14.000><c> the</c>

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will get there and to give away the
 

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will get there and to give away the
punch<00:00:14.389><c> punch</c><00:00:15.020><c> line</c><00:00:15.289><c> the</c><00:00:15.559><c> critical</c><00:00:16.129><c> element</c><00:00:16.610><c> is</c>

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punch punch line the critical element is
 

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punch punch line the critical element is
you<00:00:17.180><c> you</c><00:00:17.630><c> the</c><00:00:17.840><c> developers</c><00:00:19.690><c> today's</c><00:00:20.690><c> web</c><00:00:20.960><c> -</c>

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you you the developers today's web -
 

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you you the developers today's web -
world<00:00:21.440><c> consists</c><00:00:22.040><c> of</c><00:00:22.100><c> siloed</c><00:00:22.550><c> walled</c><00:00:22.820><c> gardens</c>

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world consists of siloed walled gardens
 

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world consists of siloed walled gardens
it<00:00:23.930><c> really</c><00:00:24.170><c> isn't</c><00:00:24.320><c> much</c><00:00:24.530><c> of</c><00:00:24.590><c> an</c><00:00:24.830><c> open</c><00:00:24.920><c> web</c>

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it really isn't much of an open web
 

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it really isn't much of an open web
anymore

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anymore
 

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anymore
Google's<00:00:26.450><c> front-end</c><00:00:26.810><c> serves</c><00:00:27.080><c> and</c><00:00:27.320><c> monetizes</c>

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Google's front-end serves and monetizes
 

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Google's front-end serves and monetizes
everyone<00:00:28.760><c> else's</c><00:00:29.150><c> content</c><00:00:29.420><c> Facebook</c><00:00:30.380><c> Twitter</c>

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everyone else's content Facebook Twitter
 

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everyone else's content Facebook Twitter
and<00:00:30.950><c> a</c><00:00:30.980><c> bunch</c><00:00:31.160><c> of</c><00:00:31.280><c> other</c><00:00:31.430><c> Gardens</c><00:00:31.910><c> have</c><00:00:32.629><c> us</c>

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and a bunch of other Gardens have us
 

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and a bunch of other Gardens have us
trapped<00:00:33.170><c> behind</c><00:00:33.469><c> their</c><00:00:33.770><c> walls</c><00:00:34.360><c> it</c><00:00:35.360><c> didn't</c>

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trapped behind their walls it didn't
 

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trapped behind their walls it didn't
start<00:00:35.840><c> that</c><00:00:35.899><c> way</c><00:00:36.280><c> the</c><00:00:37.280><c> internet</c><00:00:37.640><c> started</c><00:00:38.000><c> with</c>

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start that way the internet started with
 

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start that way the internet started with
the<00:00:38.270><c> promise</c><00:00:38.630><c> of</c><00:00:38.720><c> a</c><00:00:38.810><c> certain</c><00:00:39.140><c> style</c><00:00:39.500><c> of</c>

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the promise of a certain style of
 

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the promise of a certain style of
decentralization<00:00:40.460><c> it</c><00:00:41.390><c> was</c><00:00:41.510><c> about</c><00:00:41.750><c> building</c>

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decentralization it was about building
 

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decentralization it was about building
robust<00:00:42.829><c> network</c><00:00:43.340><c> architectures</c><00:00:44.090><c> such</c><00:00:44.329><c> that</c>

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robust network architectures such that
 

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robust network architectures such that
damage<00:00:44.930><c> to</c><00:00:45.560><c> one</c><00:00:45.770><c> part</c><00:00:46.040><c> of</c><00:00:46.160><c> the</c><00:00:46.250><c> network</c><00:00:46.610><c> would</c>

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damage to one part of the network would
 

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damage to one part of the network would
not<00:00:47.329><c> render</c><00:00:47.540><c> other</c><00:00:47.870><c> parts</c><00:00:48.260><c> unusable</c><00:00:49.270><c> the</c>

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not render other parts unusable the
 

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not render other parts unusable the
socially<00:00:50.720><c> aware</c><00:00:50.810><c> technologists</c><00:00:51.739><c> soon</c><00:00:51.950><c> framed</c>

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socially aware technologists soon framed
 

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socially aware technologists soon framed
this<00:00:52.399><c> characteristic</c><00:00:52.910><c> of</c><00:00:53.270><c> decentralization</c>

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this characteristic of decentralization
 

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this characteristic of decentralization
in<00:00:54.500><c> the</c><00:00:55.010><c> context</c><00:00:55.550><c> of</c><00:00:55.610><c> political</c><00:00:56.149><c> control</c><00:00:56.570><c> John</c>

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in the context of political control John
 

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in the context of political control John
Gilmore<00:00:57.739><c> an</c><00:00:58.160><c> early</c><00:00:58.579><c> famous</c><00:00:59.000><c> cyberpunk</c><00:00:59.660><c> stated</c>

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Gilmore an early famous cyberpunk stated
 

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Gilmore an early famous cyberpunk stated
that<00:01:00.620><c> the</c><00:01:00.770><c> net</c><00:01:01.010><c> interpret</c><00:01:01.640><c> censorship</c><00:01:02.210><c> is</c>

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that the net interpret censorship is
 

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that the net interpret censorship is
damaged<00:01:02.750><c> and</c><00:01:03.020><c> routes</c><00:01:03.530><c> around</c><00:01:03.829><c> it</c><00:01:04.540><c> these</c><00:01:05.540><c> early</c>

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damaged and routes around it these early
 

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damaged and routes around it these early
cypherpunks<00:01:06.619><c> were</c><00:01:06.740><c> the</c><00:01:06.890><c> godparents</c><00:01:07.520><c> of</c><00:01:07.610><c> all</c>

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cypherpunks were the godparents of all
 

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cypherpunks were the godparents of all
of<00:01:07.880><c> us</c><00:01:08.000><c> here</c><00:01:08.299><c> today</c><00:01:08.479><c> in</c><00:01:09.070><c> today's</c><00:01:10.070><c> web</c><00:01:10.580><c> 2.0</c><00:01:11.150><c> we</c>

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of us here today in today's web 2.0 we
 

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of us here today in today's web 2.0 we
give<00:01:11.540><c> away</c><00:01:11.780><c> our</c><00:01:11.810><c> personal</c><00:01:12.380><c> information</c><00:01:12.530><c> and</c>

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give away our personal information and
 

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give away our personal information and
our<00:01:13.760><c> power</c><00:01:14.000><c> in</c><00:01:14.330><c> order</c><00:01:14.479><c> to</c><00:01:14.780><c> exist</c><00:01:15.200><c> on</c><00:01:15.530><c> the</c>

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our power in order to exist on the
 

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our power in order to exist on the
Internet

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Internet
 

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Internet
for<00:01:17.060><c> most</c><00:01:17.210><c> cyber</c><00:01:17.600><c> citizens</c><00:01:18.140><c> it</c><00:01:18.320><c> would</c><00:01:18.470><c> be</c>

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for most cyber citizens it would be
 

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for most cyber citizens it would be
debilitating<00:01:19.310><c> to</c><00:01:19.460><c> be</c><00:01:19.640><c> deprived</c><00:01:20.150><c> of</c><00:01:20.420><c> Gmail</c>

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debilitating to be deprived of Gmail
 

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debilitating to be deprived of Gmail
Google<00:01:22.159><c> search</c><00:01:22.430><c> Twitter</c><00:01:23.119><c> Amazon's</c>

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Google search Twitter Amazon's
 

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Google search Twitter Amazon's
and<00:01:24.580><c> Apple's</c><00:01:25.580><c> ecosystems</c><00:01:26.510><c> and</c><00:01:26.720><c> the</c><00:01:26.900><c> various</c>

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and Apple's ecosystems and the various
 

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and Apple's ecosystems and the various
Facebook<00:01:27.710><c> properties</c><00:01:28.479><c> the</c><00:01:29.479><c> web</c><00:01:29.630><c> is</c><00:01:29.780><c> broken</c><00:01:30.080><c> or</c>

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Facebook properties the web is broken or
 

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Facebook properties the web is broken or
incomplete<00:01:31.520><c> because</c><00:01:32.450><c> it</c><00:01:32.570><c> has</c><00:01:32.720><c> no</c><00:01:32.930><c> native</c>

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incomplete because it has no native
 

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incomplete because it has no native
constructs<00:01:33.740><c> for</c><00:01:33.890><c> identity</c><00:01:34.460><c> or</c><00:01:34.700><c> money</c><00:01:35.439><c> without</c>

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constructs for identity or money without
 

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constructs for identity or money without
a<00:01:36.619><c> native</c><00:01:37.070><c> construct</c><00:01:37.549><c> for</c><00:01:37.700><c> money</c><00:01:37.939><c> the</c><00:01:38.689><c> web</c>

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a native construct for money the web
 

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a native construct for money the web
turned<00:01:39.140><c> to</c><00:01:39.320><c> advertising</c><00:01:39.860><c> as</c><00:01:40.159><c> its</c><00:01:40.369><c> core</c>

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turned to advertising as its core
 

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turned to advertising as its core
business<00:01:41.119><c> model</c><00:01:41.330><c> without</c><00:01:42.200><c> a</c><00:01:42.380><c> native</c>

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business model without a native
 

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business model without a native
construct<00:01:43.280><c> for</c><00:01:43.460><c> secure</c><00:01:43.970><c> and</c><00:01:44.240><c> private</c>

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construct for secure and private
 

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construct for secure and private
identity<00:01:44.799><c> the</c><00:01:45.799><c> web</c><00:01:45.979><c> grew</c><00:01:46.220><c> exploitative</c>

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identity the web grew exploitative
 

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identity the web grew exploitative
before<00:01:47.900><c> we</c><00:01:48.020><c> could</c><00:01:48.200><c> recognize</c><00:01:48.680><c> that</c><00:01:48.890><c> an</c>

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before we could recognize that an
 

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before we could recognize that an
advertising<00:01:49.670><c> technology</c><00:01:50.420><c> cancer</c><00:01:50.900><c> was</c>

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advertising technology cancer was
 

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advertising technology cancer was
growing<00:01:51.979><c> and</c><00:01:52.189><c> killing</c><00:01:52.759><c> the</c><00:01:52.880><c> patient</c><00:01:53.650><c> with</c>

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growing and killing the patient with
 

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growing and killing the patient with
deep<00:01:54.860><c> learning</c><00:01:55.040><c> techniques</c><00:01:55.640><c> applied</c><00:01:56.330><c> to</c>

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deep learning techniques applied to
 

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deep learning techniques applied to
monetizing<00:01:57.290><c> our</c><00:01:57.380><c> personal</c><00:01:57.830><c> information</c><00:01:57.979><c> and</c>

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monetizing our personal information and
 

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monetizing our personal information and
our<00:01:59.210><c> attention</c><00:01:59.509><c> and</c><00:01:59.900><c> addicting</c><00:02:00.470><c> us</c><00:02:00.619><c> to</c>

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our attention and addicting us to
 

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our attention and addicting us to
clicking<00:02:01.189><c> and</c><00:02:01.460><c> scrolling</c><00:02:01.790><c> incessantly</c>

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clicking and scrolling incessantly
 

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clicking and scrolling incessantly
on<00:02:03.020><c> social</c><00:02:03.770><c> media</c><00:02:04.070><c> the</c><00:02:04.759><c> technology</c><00:02:05.329><c> that</c>

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on social media the technology that
 

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on social media the technology that
should<00:02:05.780><c> be</c><00:02:05.900><c> purely</c><00:02:06.259><c> empowering</c><00:02:06.860><c> us</c><00:02:07.310><c> has</c><00:02:07.909><c> also</c>

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should be purely empowering us has also
 

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should be purely empowering us has also
become<00:02:08.420><c> harmful</c><00:02:09.019><c> to</c><00:02:09.200><c> many</c><00:02:09.349><c> individuals</c><00:02:10.009><c> and</c><00:02:10.280><c> a</c>

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become harmful to many individuals and a
 

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become harmful to many individuals and a
weapon<00:02:11.000><c> of</c><00:02:11.150><c> mass</c><00:02:11.360><c> manipulation</c><00:02:12.140><c> targeted</c><00:02:13.040><c> at</c>

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weapon of mass manipulation targeted at
 

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weapon of mass manipulation targeted at
our<00:02:13.400><c> societies</c><00:02:14.030><c> and</c><00:02:14.239><c> they</c>

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our societies and they
 

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our societies and they
States<00:02:15.709><c> having</c><00:02:16.709><c> identified</c><00:02:17.160><c> some</c><00:02:17.520><c> nasty</c>

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States having identified some nasty
 

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States having identified some nasty
problems<00:02:18.330><c> in</c><00:02:18.599><c> the</c><00:02:18.750><c> commanding</c><00:02:19.230><c> control</c>

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problems in the commanding control
 

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problems in the commanding control
architecture<00:02:20.400><c> of</c><00:02:20.519><c> the</c><00:02:20.640><c> web</c><00:02:20.819><c> many</c><00:02:21.660><c> of</c><00:02:21.810><c> us</c><00:02:21.930><c> at</c>

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architecture of the web many of us at
 

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architecture of the web many of us at
this<00:02:22.290><c> conference</c><00:02:22.560><c> and</c><00:02:22.920><c> elsewhere</c><00:02:23.250><c> have</c><00:02:23.940><c> come</c>

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this conference and elsewhere have come
 

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this conference and elsewhere have come
up<00:02:24.330><c> with</c><00:02:24.540><c> some</c><00:02:24.720><c> promising</c><00:02:25.200><c> solutions</c><00:02:25.739><c> these</c>

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up with some promising solutions these
 

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up with some promising solutions these
solutions<00:02:27.180><c> are</c><00:02:27.300><c> not</c><00:02:27.390><c> yet</c><00:02:27.599><c> mature</c><00:02:27.959><c> but</c><00:02:28.170><c> they</c>

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solutions are not yet mature but they
 

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solutions are not yet mature but they
point<00:02:28.560><c> the</c><00:02:28.680><c> way</c><00:02:28.709><c> to</c><00:02:28.860><c> a</c><00:02:29.040><c> web</c><00:02:29.310><c> and</c><00:02:29.580><c> societal</c>

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point the way to a web and societal
 

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point the way to a web and societal
future<00:02:30.870><c> that</c><00:02:31.170><c> I</c><00:02:31.349><c> think</c><00:02:31.680><c> we</c><00:02:31.800><c> can</c><00:02:31.920><c> all</c><00:02:32.040><c> be</c>

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future that I think we can all be
 

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future that I think we can all be
optimistic<00:02:32.700><c> about</c><00:02:33.530><c> this</c><00:02:34.530><c> is</c><00:02:34.709><c> why</c><00:02:34.860><c> 4,000</c><00:02:35.849><c> of</c><00:02:35.940><c> us</c>

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optimistic about this is why 4,000 of us
 

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optimistic about this is why 4,000 of us
flew<00:02:36.450><c> to</c><00:02:36.599><c> the</c><00:02:36.630><c> kitchen</c><00:02:37.080><c> of</c><00:02:37.170><c> Japan</c><00:02:37.590><c> to</c>

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flew to the kitchen of Japan to
 

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flew to the kitchen of Japan to
celebrate<00:02:38.760><c> and</c><00:02:39.060><c> extend</c><00:02:39.750><c> the</c><00:02:39.930><c> current</c>

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celebrate and extend the current
 

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celebrate and extend the current
capabilities<00:02:40.890><c> of</c><00:02:41.190><c> aetherium</c><00:02:43.160><c> the</c><00:02:44.160><c> promising</c>

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capabilities of aetherium the promising
 

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capabilities of aetherium the promising
solutions<00:02:45.239><c> involve</c><00:02:45.930><c> decentralized</c><00:02:46.620><c> protocol</c>

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solutions involve decentralized protocol
 

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solutions involve decentralized protocol
technology<00:02:47.760><c> these</c><00:02:48.480><c> solutions</c><00:02:48.780><c> will</c><00:02:49.140><c> soon</c>

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technology these solutions will soon
 

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technology these solutions will soon
employ<00:02:49.860><c> zero</c><00:02:50.220><c> knowledge</c><00:02:50.549><c> techniques</c>

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employ zero knowledge techniques
 

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employ zero knowledge techniques
pervasively<00:02:51.930><c> and</c><00:02:52.260><c> systematically</c><00:02:53.190><c> so</c><00:02:54.090><c> only</c>

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pervasively and systematically so only
 

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pervasively and systematically so only
what<00:02:54.599><c> must</c><00:02:54.870><c> be</c><00:02:54.989><c> disclosed</c><00:02:55.440><c> in</c><00:02:55.650><c> a</c><00:02:55.739><c> given</c>

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what must be disclosed in a given
 

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what must be disclosed in a given
situation<00:02:56.220><c> will</c><00:02:56.790><c> be</c><00:02:56.910><c> shared</c><00:02:57.239><c> whether</c><00:02:58.049><c> you</c><00:02:58.230><c> are</c>

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situation will be shared whether you are
 

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situation will be shared whether you are
demonstrating<00:02:58.530><c> that</c><00:02:59.069><c> you</c><00:02:59.190><c> are</c><00:02:59.280><c> of</c><00:02:59.370><c> legal</c><00:02:59.430><c> age</c>

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demonstrating that you are of legal age
 

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demonstrating that you are of legal age
to<00:03:00.060><c> walk</c><00:03:00.239><c> into</c><00:03:00.480><c> a</c><00:03:00.569><c> bar</c><00:03:00.870><c> without</c><00:03:01.319><c> also</c><00:03:01.920><c> having</c>

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to walk into a bar without also having
 

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to walk into a bar without also having
to<00:03:02.310><c> reveal</c><00:03:03.060><c> your</c><00:03:03.269><c> home</c><00:03:03.450><c> address</c><00:03:03.599><c> or</c>

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to reveal your home address or
 

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to reveal your home address or
demonstrating<00:03:05.220><c> that</c><00:03:05.310><c> you</c><00:03:05.400><c> are</c><00:03:05.489><c> capable</c><00:03:05.940><c> of</c>

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demonstrating that you are capable of
 

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demonstrating that you are capable of
shipping<00:03:06.420><c> a</c><00:03:06.510><c> certain</c><00:03:06.810><c> quantity</c><00:03:07.260><c> of</c><00:03:07.290><c> grain</c>

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shipping a certain quantity of grain
 

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shipping a certain quantity of grain
without<00:03:07.799><c> revealing</c><00:03:08.250><c> your</c><00:03:08.579><c> company's</c><00:03:09.030><c> name</c>

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without revealing your company's name
 

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without revealing your company's name
these<00:03:10.650><c> solutions</c><00:03:10.980><c> involve</c><00:03:11.579><c> tokenized</c>

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these solutions involve tokenized
 

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these solutions involve tokenized
incentivize<00:03:13.680><c> collaboration</c><00:03:14.519><c> mechanisms</c>

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incentivize collaboration mechanisms
 

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incentivize collaboration mechanisms
instead<00:03:16.079><c> of</c><00:03:16.170><c> a</c><00:03:16.260><c> world</c><00:03:16.440><c> of</c><00:03:16.560><c> companies</c><00:03:16.980><c> that</c>

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instead of a world of companies that
 

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instead of a world of companies that
serve<00:03:17.400><c> customers</c><00:03:17.700><c> in</c><00:03:18.480><c> a</c><00:03:18.630><c> somewhat</c>

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serve customers in a somewhat
 

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serve customers in a somewhat
adversarial<00:03:19.370><c> relationship</c><00:03:20.400><c> we</c><00:03:21.030><c> will</c><00:03:21.180><c> soon</c>

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adversarial relationship we will soon
 

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adversarial relationship we will soon
conduct<00:03:21.810><c> our</c><00:03:21.959><c> lives</c><00:03:22.170><c> on</c><00:03:22.350><c> networks</c><00:03:22.769><c> for</c>

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conduct our lives on networks for
 

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conduct our lives on networks for
Commerce<00:03:23.459><c> and</c><00:03:23.730><c> leisure</c><00:03:24.350><c> these</c><00:03:25.350><c> networks</c><00:03:25.709><c> will</c>

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Commerce and leisure these networks will
 

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Commerce and leisure these networks will
bring<00:03:26.069><c> together</c><00:03:26.250><c> many</c><00:03:26.670><c> actors</c><00:03:27.120><c> in</c><00:03:27.180><c> diverse</c>

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bring together many actors in diverse
 

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bring together many actors in diverse
roles<00:03:28.200><c> and</c><00:03:28.530><c> motivate</c><00:03:29.489><c> activity</c><00:03:30.030><c> with</c>

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roles and motivate activity with
 

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roles and motivate activity with
tokenized<00:03:30.630><c> mechanism</c><00:03:31.230><c> design</c><00:03:31.560><c> such</c><00:03:32.280><c> that</c><00:03:32.310><c> the</c>

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tokenized mechanism design such that the
 

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tokenized mechanism design such that the
collective<00:03:33.120><c> collaborative</c><00:03:33.690><c> behavior</c><00:03:34.380><c> that</c>

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collective collaborative behavior that
 

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collective collaborative behavior that
emerges<00:03:35.370><c> on</c><00:03:35.489><c> each</c><00:03:35.639><c> platform</c><00:03:36.030><c> serves</c><00:03:36.600><c> all</c><00:03:36.870><c> the</c>

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emerges on each platform serves all the
 

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emerges on each platform serves all the
people<00:03:37.410><c> who</c><00:03:37.560><c> operate</c><00:03:37.769><c> on</c><00:03:38.160><c> and</c><00:03:38.459><c> jointly</c><00:03:39.359><c> owned</c>

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people who operate on and jointly owned
 

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people who operate on and jointly owned
and<00:03:39.989><c> govern</c><00:03:40.319><c> the</c><00:03:40.350><c> platform</c><00:03:41.100><c> as</c><00:03:41.370><c> the</c><00:03:42.299><c> platform</c>

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and govern the platform as the platform
 

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and govern the platform as the platform
appreciates<00:03:43.260><c> in</c><00:03:43.440><c> value</c><00:03:43.470><c> all</c><00:03:44.400><c> the</c><00:03:44.459><c> owners</c>

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appreciates in value all the owners
 

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appreciates in value all the owners
playing<00:03:45.329><c> different</c><00:03:45.660><c> roles</c><00:03:45.900><c> on</c><00:03:46.139><c> the</c><00:03:46.200><c> platform</c>

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playing different roles on the platform
 

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playing different roles on the platform
benefit<00:03:47.400><c> as</c><00:03:47.519><c> well</c><00:03:48.950><c> these</c><00:03:49.950><c> solutions</c><00:03:50.280><c> will</c><00:03:50.670><c> see</c>

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benefit as well these solutions will see
 

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benefit as well these solutions will see
us<00:03:50.940><c> establish</c><00:03:51.510><c> our</c><00:03:51.780><c> own</c><00:03:52.230><c> self</c><00:03:52.650><c> sovereign</c>

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us establish our own self sovereign
 

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us establish our own self sovereign
identities<00:03:53.549><c> where</c><00:03:54.180><c> we</c><00:03:54.359><c> control</c><00:03:54.720><c> the</c><00:03:54.959><c> roots</c><00:03:55.200><c> of</c>

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identities where we control the roots of
 

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identities where we control the roots of
our<00:03:55.500><c> IDs</c><00:03:55.829><c> through</c><00:03:56.760><c> D</c><00:03:57.030><c> IDs</c><00:03:57.470><c> decentralized</c>

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our IDs through D IDs decentralized
 

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our IDs through D IDs decentralized
identities<00:03:59.069><c> as</c><00:03:59.280><c> specified</c><00:04:00.150><c> by</c><00:04:00.180><c> the</c>

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identities as specified by the
 

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identities as specified by the
decentralized<00:04:01.109><c> identity</c><00:04:01.709><c> foundation</c><00:04:02.370><c> and</c>

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decentralized identity foundation and
 

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decentralized identity foundation and
realized<00:04:03.750><c> in</c><00:04:03.959><c> the</c><00:04:04.049><c> form</c><00:04:04.290><c> of</c><00:04:04.380><c> you</c><00:04:04.530><c> port</c><00:04:04.829><c> civil</c>

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realized in the form of you port civil
 

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realized in the form of you port civil
ID<00:04:05.549><c> and</c><00:04:05.940><c> other</c><00:04:06.299><c> products</c><00:04:07.280><c> verifiable</c><00:04:08.280><c> claims</c>

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ID and other products verifiable claims
 

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ID and other products verifiable claims
as<00:04:08.970><c> specified</c><00:04:09.750><c> by</c><00:04:09.959><c> the</c><00:04:10.019><c> w3c</c><00:04:10.700><c> will</c><00:04:11.700><c> enable</c><00:04:11.910><c> us</c>

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as specified by the w3c will enable us
 

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as specified by the w3c will enable us
to<00:04:12.180><c> lodge</c><00:04:12.480><c> cryptographic</c><00:04:13.069><c> attestations</c><00:04:14.069><c> from</c>

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to lodge cryptographic attestations from
 

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to lodge cryptographic attestations from
our<00:04:15.090><c> D</c><00:04:15.299><c> IDs</c><00:04:15.630><c> on</c><00:04:15.989><c> to</c><00:04:16.229><c> D</c><00:04:16.410><c> IDs</c><00:04:16.739><c> representing</c><00:04:17.579><c> other</c>

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our D IDs on to D IDs representing other
 

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our D IDs on to D IDs representing other
people<00:04:18.150><c> regarding</c><00:04:19.049><c> characteristic</c><00:04:19.680><c> like</c>

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people regarding characteristic like
 

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people regarding characteristic like
characteristics<00:04:20.940><c> like</c><00:04:21.120><c> their</c><00:04:21.329><c> age</c><00:04:21.800><c> actions</c>

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characteristics like their age actions
 

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characteristics like their age actions
like<00:04:23.010><c> the</c><00:04:23.159><c> fact</c><00:04:23.340><c> that</c><00:04:23.460><c> they</c><00:04:23.610><c> paid</c><00:04:23.849><c> their</c>

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like the fact that they paid their
 

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like the fact that they paid their
utility<00:04:24.599><c> bill</c><00:04:25.310><c> achievements</c><00:04:26.310><c> as</c><00:04:26.490><c> in</c>

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utility bill achievements as in
 

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utility bill achievements as in
education

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education
 

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education
attainment<00:04:28.160><c> and</c><00:04:28.930><c> performance</c><00:04:29.930><c> as</c><00:04:30.199><c> with</c>

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attainment and performance as with
 

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attainment and performance as with
credit<00:04:31.190><c> scores</c><00:04:31.310><c> or</c><00:04:31.699><c> developer</c><00:04:32.180><c> proficiency</c>

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credit scores or developer proficiency
 

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credit scores or developer proficiency
di<00:04:33.710><c> DS</c><00:04:34.010><c> can</c><00:04:34.220><c> also</c><00:04:34.340><c> represent</c><00:04:34.639><c> organizations</c>

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di DS can also represent organizations
 

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di DS can also represent organizations
or<00:04:35.990><c> things</c><00:04:36.320><c> like</c><00:04:36.680><c> content</c><00:04:37.370><c> for</c><00:04:37.610><c> instance</c>

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or things like content for instance
 

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or things like content for instance
perhaps<00:04:39.110><c> most</c><00:04:39.560><c> importantly</c><00:04:40.130><c> web</c><00:04:40.970><c> 3</c><00:04:41.270><c> will</c><00:04:41.510><c> be</c>

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perhaps most importantly web 3 will be
 

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perhaps most importantly web 3 will be
more<00:04:42.080><c> user</c><00:04:42.350><c> centric</c><00:04:42.830><c> than</c><00:04:43.160><c> any</c><00:04:43.370><c> previous</c>

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more user centric than any previous
 

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more user centric than any previous
internet<00:04:44.389><c> platform</c><00:04:44.960><c> putting</c><00:04:45.770><c> the</c><00:04:45.860><c> user</c>

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internet platform putting the user
 

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internet platform putting the user
finally<00:04:46.729><c> at</c><00:04:46.940><c> the</c><00:04:47.240><c> center</c><00:04:47.570><c> of</c><00:04:47.600><c> user</c><00:04:47.870><c> experience</c>

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finally at the center of user experience
 

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finally at the center of user experience
people<00:04:49.760><c> must</c><00:04:49.970><c> be</c><00:04:50.090><c> in</c><00:04:50.180><c> control</c><00:04:50.630><c> of</c><00:04:50.840><c> the</c><00:04:50.990><c> root</c><00:04:51.139><c> of</c>

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people must be in control of the root of
 

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people must be in control of the root of
their<00:04:51.440><c> identities</c><00:04:51.979><c> so</c><00:04:52.220><c> that</c><00:04:52.370><c> their</c><00:04:52.520><c> identity</c>

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their identities so that their identity
 

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their identities so that their identity
can't<00:04:53.300><c> be</c><00:04:53.479><c> stolen</c><00:04:53.960><c> and</c><00:04:54.800><c> in</c><00:04:55.250><c> control</c><00:04:55.639><c> of</c><00:04:55.729><c> their</c>

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can't be stolen and in control of their
 

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can't be stolen and in control of their
own<00:04:55.970><c> personal</c><00:04:56.389><c> information</c><00:04:56.540><c> so</c><00:04:57.500><c> it</c><00:04:57.620><c> can't</c><00:04:57.830><c> be</c>

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own personal information so it can't be
 

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own personal information so it can't be
exploited<00:04:58.550><c> even</c><00:04:58.820><c> in</c><00:04:59.660><c> the</c><00:04:59.750><c> extreme</c>

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exploited even in the extreme
 

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exploited even in the extreme
circumstance<00:05:00.710><c> where</c><00:05:00.919><c> a</c><00:05:00.950><c> refugee</c><00:05:01.760><c> is</c><00:05:01.880><c> deep</c>

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circumstance where a refugee is deep
 

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circumstance where a refugee is deep
platformed<00:05:02.900><c> from</c><00:05:03.260><c> their</c><00:05:03.440><c> country</c><00:05:03.919><c> and</c><00:05:04.190><c> not</c>

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platformed from their country and not
 

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platformed from their country and not
able<00:05:05.120><c> to</c><00:05:05.300><c> take</c><00:05:05.479><c> any</c><00:05:05.660><c> physical</c><00:05:06.050><c> possessions</c>

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able to take any physical possessions
 

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able to take any physical possessions
with<00:05:06.770><c> them</c><00:05:06.919><c> to</c><00:05:07.130><c> their</c><00:05:07.280><c> new</c><00:05:07.460><c> home</c><00:05:08.020><c> they</c><00:05:09.020><c> should</c>

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with them to their new home they should
 

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with them to their new home they should
be<00:05:09.380><c> able</c><00:05:09.470><c> to</c><00:05:09.590><c> easily</c><00:05:09.919><c> access</c><00:05:10.370><c> their</c>

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be able to easily access their
 

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be able to easily access their
decentralized<00:05:11.450><c> identity</c><00:05:11.990><c> and</c><00:05:12.200><c> reclaim</c><00:05:12.620><c> their</c>

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decentralized identity and reclaim their
 

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decentralized identity and reclaim their
personal<00:05:13.310><c> portable</c><00:05:13.790><c> history</c><00:05:14.450><c> and</c><00:05:14.750><c> reputation</c>

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in<00:05:18.710><c> in</c><00:05:19.220><c> the</c><00:05:19.340><c> form</c><00:05:19.610><c> of</c><00:05:19.729><c> verifiable</c><00:05:20.539><c> claims</c>

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in in the form of verifiable claims
 

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in in the form of verifiable claims
linked<00:05:21.560><c> to</c><00:05:21.830><c> that</c><00:05:21.950><c> di</c><00:05:22.190><c> D</c><00:05:22.780><c> under</c><00:05:23.780><c> the</c><00:05:23.900><c> web</c><00:05:24.020><c> 3</c>

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linked to that di D under the web 3
 

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linked to that di D under the web 3
paradigm<00:05:24.740><c> all</c><00:05:25.250><c> users</c><00:05:25.820><c> will</c><00:05:26.030><c> have</c><00:05:26.180><c> real</c><00:05:26.479><c> agency</c>

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paradigm all users will have real agency
 

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paradigm all users will have real agency
social<00:05:28.010><c> political</c><00:05:28.460><c> and</c><00:05:28.940><c> economic</c><00:05:29.060><c> on</c><00:05:29.690><c> the</c>

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social political and economic on the
 

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social political and economic on the
many<00:05:30.260><c> collaboration</c><00:05:30.949><c> networks</c><00:05:31.310><c> on</c><00:05:31.520><c> which</c><00:05:31.700><c> we</c>

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many collaboration networks on which we
 

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many collaboration networks on which we
will<00:05:32.030><c> all</c><00:05:32.300><c> soon</c><00:05:32.630><c> work</c><00:05:32.990><c> and</c><00:05:33.289><c> live</c><00:05:33.729><c> this</c><00:05:34.729><c> will</c><00:05:34.910><c> be</c>

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will all soon work and live this will be
 

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will all soon work and live this will be
the<00:05:35.150><c> new</c><00:05:35.300><c> fabric</c><00:05:35.570><c> of</c><00:05:35.900><c> society</c><00:05:36.020><c> and</c><00:05:36.530><c> this</c>

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the new fabric of society and this
 

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the new fabric of society and this
fabric<00:05:37.070><c> will</c><00:05:37.220><c> support</c><00:05:37.580><c> far</c><00:05:38.210><c> broader</c>

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fabric will support far broader
 

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fabric will support far broader
participation<00:05:38.960><c> in</c><00:05:39.500><c> governance</c><00:05:39.860><c> and</c><00:05:40.130><c> broader</c>

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participation in governance and broader
 

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participation in governance and broader
wealth<00:05:41.090><c> distribution</c><00:05:41.840><c> we're</c><00:05:42.830><c> moving</c><00:05:43.099><c> rapidly</c>

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wealth distribution we're moving rapidly
 

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wealth distribution we're moving rapidly
though<00:05:44.120><c> it</c><00:05:44.240><c> seems</c><00:05:44.510><c> agonizingly</c><00:05:45.320><c> slowly</c><00:05:45.650><c> at</c>

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though it seems agonizingly slowly at
 

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though it seems agonizingly slowly at
times<00:05:46.130><c> towards</c><00:05:47.030><c> realizing</c><00:05:47.599><c> the</c><00:05:47.720><c> web</c><00:05:47.870><c> 3</c><00:05:48.200><c> world</c>

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times towards realizing the web 3 world
 

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times towards realizing the web 3 world
it<00:05:49.310><c> seems</c><00:05:49.610><c> slowly</c><00:05:49.849><c> to</c><00:05:50.120><c> those</c><00:05:50.300><c> looking</c><00:05:50.690><c> in</c>

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it seems slowly to those looking in
 

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it seems slowly to those looking in
because<00:05:51.620><c> they</c><00:05:51.770><c> hear</c><00:05:52.010><c> about</c><00:05:52.130><c> the</c><00:05:52.280><c> potential</c>

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because they hear about the potential
 

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because they hear about the potential
and<00:05:52.880><c> they</c><00:05:52.940><c> expect</c><00:05:53.360><c> it</c><00:05:53.479><c> to</c><00:05:53.630><c> materialize</c>

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and they expect it to materialize
 

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and they expect it to materialize
instantly<00:05:55.639><c> as</c><00:05:55.940><c> though</c><00:05:56.780><c> the</c><00:05:56.900><c> web</c><00:05:57.050><c> and</c><00:05:57.289><c> Internet</c>

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instantly as though the web and Internet
 

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instantly as though the web and Internet
mobile<00:05:58.280><c> phones</c><00:05:58.520><c> and</c><00:05:58.880><c> cars</c><00:05:59.120><c> were</c><00:05:59.780><c> all</c><00:05:59.930><c> birthed</c>

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mobile phones and cars were all birthed
 

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mobile phones and cars were all birthed
as<00:06:00.560><c> mature</c><00:06:00.919><c> products</c><00:06:01.610><c> with</c><00:06:02.150><c> fully</c><00:06:02.419><c> formed</c>

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as mature products with fully formed
 

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as mature products with fully formed
infrastructure<00:06:03.560><c> by</c><00:06:03.889><c> their</c><00:06:04.070><c> original</c>

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infrastructure by their original
 

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infrastructure by their original
inventors<00:06:05.030><c> as</c><00:06:05.270><c> though</c><00:06:06.110><c> the</c><00:06:06.260><c> global</c>

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inventors as though the global
 

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inventors as though the global
electrical<00:06:07.160><c> grid</c><00:06:07.370><c> was</c><00:06:07.550><c> spun</c><00:06:07.820><c> by</c><00:06:07.970><c> Edison</c><00:06:08.389><c> and</c>

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electrical grid was spun by Edison and
 

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electrical grid was spun by Edison and
787's<00:06:09.710><c> and</c><00:06:09.940><c> f-35s</c><00:06:10.940><c> were</c><00:06:11.240><c> waiting</c><00:06:11.660><c> in</c><00:06:11.780><c> the</c>

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787's and f-35s were waiting in the
 

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787's and f-35s were waiting in the
wings<00:06:12.050><c> for</c><00:06:12.349><c> testing</c><00:06:12.800><c> on</c><00:06:12.950><c> the</c><00:06:13.490><c> runways</c><00:06:13.910><c> at</c><00:06:14.360><c> the</c>

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wings for testing on the runways at the
 

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wings for testing on the runways at the
International<00:06:15.560><c> Airport</c><00:06:15.740><c> at</c><00:06:16.280><c> Kitty</c><00:06:16.610><c> Hawk</c>

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realizing<00:06:21.650><c> a</c><00:06:21.740><c> well-formed</c><00:06:22.310><c> web</c><00:06:22.850><c> 3</c><00:06:23.270><c> world</c><00:06:23.690><c> will</c>

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realizing a well-formed web 3 world will
 

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realizing a well-formed web 3 world will
involve<00:06:24.560><c> us</c><00:06:24.710><c> achieving</c><00:06:25.220><c> improvements</c><00:06:25.550><c> in</c>

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involve us achieving improvements in
 

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involve us achieving improvements in
three<00:06:26.090><c> major</c><00:06:26.270><c> dimensions</c><00:06:26.860><c> privacy</c><00:06:27.860><c> and</c>

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three major dimensions privacy and
 

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three major dimensions privacy and
confidentiality<00:06:29.020><c> scalability</c><00:06:30.020><c> and</c>

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confidentiality scalability and
 

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confidentiality scalability and
usability<00:06:31.570><c> privacy</c><00:06:32.570><c> and</c><00:06:32.750><c> confidentiality</c><00:06:33.320><c> is</c>

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usability privacy and confidentiality is
 

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usability privacy and confidentiality is
moving<00:06:34.910><c> fast</c><00:06:35.150><c> with</c><00:06:35.509><c> various</c><00:06:35.810><c> explorations</c><00:06:36.500><c> of</c>

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moving fast with various explorations of
 

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moving fast with various explorations of
zero<00:06:36.830><c> knowledge</c><00:06:37.070><c> techniques</c><00:06:37.699><c> state</c><00:06:38.509><c> channels</c>

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zero knowledge techniques state channels
 

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zero knowledge techniques state channels
mechanisms<00:06:40.070><c> and</c><00:06:40.280><c> layer</c><00:06:40.520><c> to</c><00:06:40.729><c> private</c><00:06:41.180><c> chain</c>

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mechanisms and layer to private chain
 

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mechanisms and layer to private chain
architectures<00:06:42.610><c> we've</c><00:06:43.610><c> all</c><00:06:43.789><c> seen</c><00:06:44.120><c> and</c><00:06:44.360><c> will</c>

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architectures we've all seen and will
 

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architectures we've all seen and will
continue<00:06:44.780><c> to</c><00:06:44.930><c> see</c><00:06:45.199><c> massive</c><00:06:45.620><c> improvements</c><00:06:46.190><c> in</c>

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continue to see massive improvements in
 

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continue to see massive improvements in
scalability<00:06:46.970><c> this</c><00:06:47.690><c> is</c><00:06:47.840><c> all</c><00:06:47.990><c> moving</c><00:06:48.440><c> very</c><00:06:48.710><c> fast</c>

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scalability this is all moving very fast
 

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scalability this is all moving very fast
with<00:06:49.340><c> various</c><00:06:49.580><c> kinds</c><00:06:49.880><c> of</c><00:06:49.970><c> layer</c><00:06:50.120><c> 2</c><00:06:50.300><c> solutions</c>

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with various kinds of layer 2 solutions
 

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with various kinds of layer 2 solutions
being<00:06:51.050><c> built</c><00:06:51.289><c> launched</c><00:06:52.220><c> and</c><00:06:52.430><c> anchored</c><00:06:53.120><c> into</c><00:06:53.330><c> a</c>

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being built launched and anchored into a
 

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being built launched and anchored into a
theorem<00:06:53.930><c> layer</c><00:06:54.110><c> one</c><00:06:54.380><c> for</c><00:06:54.710><c> additional</c>

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theorem layer one for additional
 

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theorem layer one for additional
security<00:06:55.660><c> scale</c><00:06:56.660><c> networks</c><00:06:57.110><c> is</c><00:06:57.410><c> one</c><00:06:57.800><c> exciting</c>

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security scale networks is one exciting
 

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security scale networks is one exciting
example<00:06:58.759><c> again</c><00:06:59.720><c> lots</c><00:07:00.020><c> of</c><00:07:00.259><c> use</c><00:07:00.530><c> here</c><00:07:00.889><c> of</c><00:07:01.070><c> off</c>

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example again lots of use here of off
 

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example again lots of use here of off
chain<00:07:01.669><c> computation</c><00:07:02.419><c> using</c><00:07:03.020><c> interactive</c>

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chain computation using interactive
 

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chain computation using interactive
computation<00:07:04.370><c> games</c><00:07:04.639><c> and</c><00:07:04.940><c> zero-knowledge</c>

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computation games and zero-knowledge
 

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computation games and zero-knowledge
techniques<00:07:05.930><c> state</c><00:07:06.650><c> channels</c><00:07:07.099><c> and</c><00:07:07.479><c> layer</c><00:07:08.479><c> to</c>

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techniques state channels and layer to
 

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techniques state channels and layer to
public<00:07:09.229><c> and</c><00:07:09.380><c> private</c><00:07:09.440><c> chain</c><00:07:09.979><c> architectures</c>

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public and private chain architectures
 

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public and private chain architectures
we're<00:07:11.630><c> seeing</c><00:07:11.840><c> tens</c><00:07:12.050><c> of</c><00:07:12.199><c> thousands</c><00:07:12.620><c> of</c>

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we're seeing tens of thousands of
 

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we're seeing tens of thousands of
decentralized<00:07:13.370><c> transactions</c><00:07:14.030><c> per</c><00:07:14.240><c> second</c><00:07:14.630><c> DT</c>

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decentralized transactions per second DT
 

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decentralized transactions per second DT
PS<00:07:15.710><c> added</c><00:07:16.550><c> to</c><00:07:16.759><c> a</c><00:07:16.789><c> theorem</c><00:07:17.210><c> layer</c><00:07:17.360><c> to</c><00:07:17.660><c> this</c><00:07:17.840><c> year</c>

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PS added to a theorem layer to this year
 

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PS added to a theorem layer to this year
already<00:07:18.259><c> and</c><00:07:18.710><c> very</c><00:07:19.220><c> soon</c><00:07:19.520><c> we</c><00:07:19.580><c> will</c><00:07:19.849><c> see</c>

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already and very soon we will see
 

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already and very soon we will see
millions<00:07:20.650><c> and</c><00:07:21.650><c> probably</c><00:07:22.070><c> before</c><00:07:22.220><c> the</c><00:07:22.430><c> end</c><00:07:22.610><c> of</c>

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millions and probably before the end of
 

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millions and probably before the end of
2020<00:07:23.150><c> we</c><00:07:23.360><c> will</c><00:07:23.570><c> see</c><00:07:23.690><c> all</c><00:07:23.900><c> of</c><00:07:23.930><c> this</c><00:07:24.169><c> multiplied</c>

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2020 we will see all of this multiplied
 

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2020 we will see all of this multiplied
a<00:07:25.099><c> thousand</c><00:07:25.880><c> fold</c><00:07:26.090><c> as</c><00:07:26.539><c> the</c><00:07:26.750><c> theorem</c><00:07:26.990><c> phase</c>

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a thousand fold as the theorem phase
 

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a thousand fold as the theorem phase
zero<00:07:27.740><c> will</c><00:07:27.979><c> be</c><00:07:28.130><c> delivered</c><00:07:28.550><c> in</c><00:07:28.760><c> q1</c><00:07:29.180><c> in</c><00:07:29.389><c> phases</c>

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zero will be delivered in q1 in phases
 

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zero will be delivered in q1 in phases
one<00:07:30.710><c> and</c><00:07:30.740><c> two</c><00:07:31.010><c> will</c><00:07:31.729><c> likely</c><00:07:31.909><c> arrive</c><00:07:32.360><c> together</c>

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one and two will likely arrive together
 

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one and two will likely arrive together
before<00:07:33.380><c> the</c><00:07:33.500><c> end</c><00:07:33.620><c> of</c><00:07:33.740><c> the</c><00:07:33.860><c> year</c><00:07:35.320><c> usability</c><00:07:36.320><c> has</c>

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before the end of the year usability has
 

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before the end of the year usability has
also<00:07:36.590><c> seen</c><00:07:37.010><c> much</c><00:07:37.250><c> improvement</c><00:07:37.870><c> few</c><00:07:38.870><c> people</c>

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also seen much improvement few people
 

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also seen much improvement few people
recall<00:07:39.470><c> how</c><00:07:39.680><c> agonizing</c><00:07:40.310><c> it</c><00:07:40.550><c> was</c><00:07:40.729><c> to</c><00:07:40.940><c> access</c>

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recall how agonizing it was to access
 

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recall how agonizing it was to access
the<00:07:41.539><c> internet</c><00:07:41.960><c> via</c><00:07:42.260><c> dial-up</c><00:07:42.590><c> on</c><00:07:43.039><c> a</c><00:07:43.400><c> 9600</c><00:07:44.300><c> or</c>

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the internet via dial-up on a 9600 or
 

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the internet via dial-up on a 9600 or
14-4<00:07:45.380><c> baud</c><00:07:45.620><c> modem</c><00:07:45.849><c> the</c><00:07:46.849><c> apps</c><00:07:47.000><c> and</c><00:07:47.240><c> web</c><00:07:47.419><c> pages</c>

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14-4 baud modem the apps and web pages
 

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14-4 baud modem the apps and web pages
were<00:07:47.930><c> simple</c><00:07:48.289><c> back</c><00:07:48.470><c> then</c><00:07:48.650><c> but</c><00:07:48.860><c> it</c><00:07:48.949><c> wasn't</c>

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were simple back then but it wasn't
 

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were simple back then but it wasn't
uncommon<00:07:49.669><c> to</c><00:07:50.000><c> wait</c><00:07:50.120><c> 30</c><00:07:50.419><c> seconds</c><00:07:50.930><c> for</c><00:07:51.229><c> a</c><00:07:51.259><c> page</c>

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uncommon to wait 30 seconds for a page
 

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uncommon to wait 30 seconds for a page
to<00:07:51.530><c> load</c><00:07:51.949><c> and</c><00:07:53.020><c> often</c><00:07:54.020><c> you</c><00:07:54.409><c> weren't</c><00:07:54.590><c> sure</c><00:07:54.740><c> if</c>

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to load and often you weren't sure if
 

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to load and often you weren't sure if
you<00:07:54.949><c> were</c><00:07:55.070><c> still</c><00:07:55.099><c> connected</c><00:07:55.880><c> or</c><00:07:56.210><c> just</c><00:07:56.630><c> loading</c>

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you were still connected or just loading
 

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you were still connected or just loading
in<00:07:57.229><c> the</c><00:07:58.070><c> morning</c><00:07:58.430><c> you'd</c><00:07:58.820><c> get</c><00:07:59.000><c> to</c><00:07:59.120><c> your</c>

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in the morning you'd get to your
 

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in the morning you'd get to your
workstation<00:07:59.810><c> start</c><00:08:00.110><c> your</c><00:08:00.229><c> email</c><00:08:00.590><c> client</c>

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workstation start your email client
 

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workstation start your email client
downloading<00:08:01.639><c> and</c><00:08:01.820><c> go</c><00:08:02.360><c> for</c><00:08:02.599><c> coffee</c><00:08:02.840><c> to</c><00:08:03.380><c> give</c><00:08:03.530><c> it</c>

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downloading and go for coffee to give it
 

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downloading and go for coffee to give it
time<00:08:03.860><c> to</c><00:08:04.009><c> sync</c><00:08:04.280><c> with</c><00:08:04.490><c> the</c><00:08:04.580><c> pop</c><00:08:04.789><c> or</c><00:08:05.060><c> IMAP</c><00:08:05.270><c> server</c>

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time to sync with the pop or IMAP server
 

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time to sync with the pop or IMAP server
before<00:08:06.620><c> you</c><00:08:06.740><c> could</c><00:08:06.889><c> read</c><00:08:07.099><c> and</c><00:08:07.280><c> respond</c><00:08:07.669><c> to</c>

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before you could read and respond to
 

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before you could read and respond to
your<00:08:07.940><c> email</c><00:08:08.210><c> this</c><00:08:09.110><c> was</c><00:08:09.289><c> 93</c><00:08:10.070><c> 94</c><00:08:10.909><c> we</c><00:08:11.780><c> see</c><00:08:11.960><c> similar</c>

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your email this was 93 94 we see similar
 

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your email this was 93 94 we see similar
issues<00:08:12.620><c> with</c><00:08:12.770><c> early</c><00:08:13.099><c> implementations</c><00:08:13.849><c> of</c><00:08:13.970><c> the</c>

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issues with early implementations of the
 

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issues with early implementations of the
web<00:08:14.270><c> 3</c><00:08:14.509><c> technology</c><00:08:15.340><c> for</c><00:08:16.340><c> web</c><00:08:16.490><c> 3</c><00:08:16.759><c> many</c><00:08:17.000><c> projects</c>

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web 3 technology for web 3 many projects
 

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web 3 technology for web 3 many projects
are<00:08:17.570><c> exploring</c><00:08:17.930><c> the</c><00:08:18.080><c> progressive</c><00:08:18.620><c> onboarding</c>

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are exploring the progressive onboarding
 

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are exploring the progressive onboarding
technique<00:08:19.820><c> that</c><00:08:20.360><c> enables</c><00:08:20.539><c> instant</c>

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technique that enables instant
 

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technique that enables instant
onboarding<00:08:21.680><c> of</c><00:08:21.860><c> the</c><00:08:22.009><c> user</c><00:08:22.220><c> to</c><00:08:22.610><c> adapt</c><00:08:23.259><c> followed</c>

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onboarding of the user to adapt followed
 

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onboarding of the user to adapt followed
by<00:08:24.409><c> a</c><00:08:24.440><c> gradual</c><00:08:24.889><c> handover</c><00:08:25.520><c> of</c><00:08:26.150><c> responsibility</c>

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by a gradual handover of responsibility
 

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by a gradual handover of responsibility
from<00:08:27.110><c> the</c><00:08:27.320><c> DAP</c><00:08:27.530><c> to</c><00:08:27.889><c> the</c><00:08:28.039><c> user</c><00:08:28.219><c> as</c><00:08:28.520><c> investment</c>

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from the DAP to the user as investment
 

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from the DAP to the user as investment
of<00:08:29.240><c> attention</c><00:08:29.719><c> and</c>

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of attention and
 

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of attention and
in<00:08:30.770><c> that</c><00:08:31.130><c> dap</c><00:08:31.370><c> grows</c><00:08:32.500><c> new</c><00:08:33.500><c> wallet</c>

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in that dap grows new wallet
 

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in that dap grows new wallet
architectures<00:08:34.610><c> are</c><00:08:35.120><c> taking</c><00:08:35.539><c> the</c><00:08:35.750><c> multi</c>

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architectures are taking the multi
 

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architectures are taking the multi
signature<00:08:36.590><c> tooling</c><00:08:37.159><c> pioneered</c><00:08:37.669><c> by</c><00:08:37.729><c> gnosis</c>

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signature tooling pioneered by gnosis
 

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signature tooling pioneered by gnosis
wallet<00:08:39.080><c> and</c><00:08:39.260><c> safe</c><00:08:39.560><c> and</c><00:08:39.979><c> adding</c><00:08:40.520><c> social</c>

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wallet and safe and adding social
 

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wallet and safe and adding social
recovery<00:08:41.210><c> pioneered</c><00:08:42.110><c> by</c><00:08:42.169><c> you</c><00:08:42.349><c> port</c><00:08:42.770><c> and</c>

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recovery pioneered by you port and
 

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recovery pioneered by you port and
social<00:08:43.700><c> acceptance</c><00:08:44.210><c> or</c><00:08:44.510><c> rejection</c><00:08:44.870><c> of</c>

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social acceptance or rejection of
 

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social acceptance or rejection of
intended<00:08:46.400><c> user</c><00:08:46.610><c> actions</c><00:08:47.180><c> to</c><00:08:47.750><c> ensure</c><00:08:47.870><c> that</c>

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intended user actions to ensure that
 

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intended user actions to ensure that
early<00:08:48.500><c> adopters</c><00:08:48.980><c> go</c><00:08:49.220><c> don't</c><00:08:49.640><c> get</c><00:08:49.820><c> nicked</c><00:08:50.090><c> by</c>

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early adopters go don't get nicked by
 

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early adopters go don't get nicked by
the<00:08:50.510><c> still</c><00:08:50.840><c> sharp</c><00:08:51.140><c> edges</c><00:08:51.440><c> of</c><00:08:51.860><c> this</c><00:08:52.070><c> new</c>

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the still sharp edges of this new
 

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the still sharp edges of this new
technology<00:08:52.960><c> in</c><00:08:53.960><c> systems</c><00:08:54.380><c> of</c><00:08:54.500><c> the</c><00:08:54.620><c> like</c><00:08:54.800><c> ENS</c>

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technology in systems of the like ENS
 

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technology in systems of the like ENS
are<00:08:55.730><c> gaining</c><00:08:56.300><c> traction</c><00:08:56.660><c> so</c><00:08:57.440><c> soon</c><00:08:57.710><c> we</c><00:08:57.860><c> won't</c>

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are gaining traction so soon we won't
 

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are gaining traction so soon we won't
have<00:08:58.160><c> to</c><00:08:58.400><c> look</c><00:08:58.550><c> at</c><00:08:58.730><c> long</c><00:08:59.030><c> strings</c><00:08:59.540><c> of</c>

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have to look at long strings of
 

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have to look at long strings of
hexadecimal<00:09:00.620><c> addresses</c><00:09:01.100><c> anymore</c>

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hexadecimal addresses anymore
 

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hexadecimal addresses anymore
just<00:09:02.150><c> as</c><00:09:02.300><c> we</c><00:09:02.480><c> rarely</c><00:09:02.780><c> look</c><00:09:03.170><c> at</c><00:09:03.410><c> the</c><00:09:03.710><c> four</c>

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just as we rarely look at the four
 

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just as we rarely look at the four
octets<00:09:04.190><c> of</c><00:09:04.670><c> IP</c><00:09:05.000><c> addresses</c><00:09:05.720><c> in</c><00:09:05.930><c> dot</c><00:09:06.710><c> decimal</c>

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octets of IP addresses in dot decimal
 

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octets of IP addresses in dot decimal
notation<00:09:09.070><c> the</c><00:09:10.070><c> architecture</c><00:09:10.550><c> of</c><00:09:10.610><c> the</c><00:09:10.760><c> web</c>

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notation the architecture of the web
 

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notation the architecture of the web
doesn't<00:09:11.480><c> merely</c><00:09:11.840><c> represent</c><00:09:12.530><c> identity</c><00:09:13.190><c> risk</c>

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doesn't merely represent identity risk
 

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doesn't merely represent identity risk
for<00:09:13.670><c> people</c><00:09:13.790><c> and</c><00:09:14.180><c> political</c><00:09:14.810><c> risk</c><00:09:15.290><c> for</c><00:09:15.590><c> nation</c>

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for people and political risk for nation
 

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for people and political risk for nation
states<00:09:16.160><c> it</c><00:09:16.790><c> also</c><00:09:16.910><c> represents</c><00:09:17.480><c> different</c>

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states it also represents different
 

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states it also represents different
kinds<00:09:18.080><c> of</c><00:09:18.170><c> platform</c><00:09:18.680><c> risk</c><00:09:18.950><c> there's</c><00:09:19.760><c> platform</c>

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kinds of platform risk there's platform
 

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kinds of platform risk there's platform
risks<00:09:20.510><c> to</c><00:09:20.960><c> artists</c><00:09:21.470><c> and</c><00:09:21.650><c> others</c><00:09:21.980><c> who</c><00:09:22.160><c> find</c>

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risks to artists and others who find
 

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risks to artists and others who find
themselves<00:09:22.520><c> deep</c><00:09:22.970><c> platformed</c><00:09:23.690><c> from</c><00:09:24.110><c> a</c><00:09:24.230><c> system</c>

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themselves deep platformed from a system
 

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themselves deep platformed from a system
they<00:09:24.710><c> rely</c><00:09:24.980><c> on</c><00:09:25.010><c> for</c><00:09:25.460><c> their</c><00:09:25.520><c> livelihood</c>

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they rely on for their livelihood
 

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they rely on for their livelihood
Facebook<00:09:27.230><c> Twitter</c><00:09:27.410><c> in</c><00:09:27.590><c> YouTube</c><00:09:27.920><c> now</c><00:09:28.220><c> have</c>

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Facebook Twitter in YouTube now have
 

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Facebook Twitter in YouTube now have
enormous<00:09:28.790><c> ability</c><00:09:29.000><c> to</c><00:09:29.420><c> shape</c><00:09:29.630><c> narratives</c>

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enormous ability to shape narratives
 

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enormous ability to shape narratives
debate<00:09:30.920><c> and</c><00:09:31.190><c> broad</c><00:09:31.760><c> morality</c><00:09:32.450><c> and</c><00:09:32.770><c> there's</c>

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debate and broad morality and there's
 

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debate and broad morality and there's
platformers<00:09:34.370><c> to</c><00:09:34.550><c> startups</c><00:09:34.970><c> and</c><00:09:35.270><c> other</c>

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platformers to startups and other
 

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platformers to startups and other
companies<00:09:36.050><c> who</c><00:09:36.200><c> find</c><00:09:36.470><c> the</c><00:09:36.589><c> rules</c><00:09:36.770><c> of</c><00:09:37.070><c> a</c>

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companies who find the rules of a
 

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companies who find the rules of a
platform<00:09:37.370><c> can</c><00:09:38.150><c> change</c><00:09:38.510><c> from</c><00:09:38.750><c> underneath</c><00:09:39.080><c> them</c>

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platform can change from underneath them
 

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platform can change from underneath them
as<00:09:39.710><c> that</c><00:09:40.640><c> platform</c><00:09:40.850><c> grows</c><00:09:41.420><c> and</c><00:09:41.660><c> evolves</c><00:09:41.870><c> and</c>

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as that platform grows and evolves and
 

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as that platform grows and evolves and
finds<00:09:42.560><c> itself</c><00:09:42.800><c> cannibalizing</c><00:09:43.790><c> the</c><00:09:43.910><c> companies</c>

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finds itself cannibalizing the companies
 

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finds itself cannibalizing the companies
that<00:09:44.360><c> it</c><00:09:44.690><c> drew</c><00:09:44.930><c> in</c><00:09:44.960><c> as</c><00:09:45.260><c> partners</c><00:09:45.740><c> a</c><00:09:46.010><c> few</c><00:09:46.580><c> years</c>

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that it drew in as partners a few years
 

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that it drew in as partners a few years
earlier<00:09:47.150><c> the</c><00:09:47.870><c> incessant</c><00:09:48.140><c> drive</c><00:09:48.470><c> to</c><00:09:48.650><c> grow</c>

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earlier the incessant drive to grow
 

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earlier the incessant drive to grow
revenue<00:09:49.040><c> once</c><00:09:49.880><c> at</c><00:09:50.030><c> the</c><00:09:50.150><c> top</c><00:09:50.180><c> of</c><00:09:50.660><c> its</c><00:09:50.810><c> adoption</c>

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revenue once at the top of its adoption
 

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revenue once at the top of its adoption
curve<00:09:51.530><c> yields</c><00:09:52.400><c> such</c><00:09:52.640><c> anti-competitive</c>

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curve yields such anti-competitive
 

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curve yields such anti-competitive
behavior<00:09:54.700><c> Google</c><00:09:55.700><c> Amazon</c><00:09:55.880><c> Facebook</c><00:09:56.420><c> Linkedin</c>

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behavior Google Amazon Facebook Linkedin
 

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behavior Google Amazon Facebook Linkedin
Apple<00:09:57.680><c> and</c><00:09:57.890><c> Microsoft</c><00:09:57.920><c> are</c><00:09:58.820><c> all</c><00:09:58.970><c> large</c>

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Apple and Microsoft are all large
 

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Apple and Microsoft are all large
platforms<00:10:00.020><c> that</c><00:10:00.470><c> have</c><00:10:00.680><c> engaged</c><00:10:01.010><c> in</c><00:10:01.339><c> dining</c><00:10:01.760><c> on</c>

00:10:01.960 --> 00:10:01.970 align:start position:0%
platforms that have engaged in dining on
 

00:10:01.970 --> 00:10:05.050 align:start position:0%
platforms that have engaged in dining on
their<00:10:02.330><c> dependants</c><00:10:03.160><c> as</c><00:10:04.160><c> a</c><00:10:04.220><c> cyber</c><00:10:04.520><c> citizen</c><00:10:04.970><c> I</c>

00:10:05.050 --> 00:10:05.060 align:start position:0%
their dependants as a cyber citizen I
 

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their dependants as a cyber citizen I
love<00:10:05.330><c> and</c><00:10:05.630><c> need</c><00:10:06.080><c> Google</c><00:10:06.500><c> and</c><00:10:06.920><c> Amazon</c><00:10:07.070><c> but</c><00:10:07.880><c> the</c>

00:10:07.990 --> 00:10:08.000 align:start position:0%
love and need Google and Amazon but the
 

00:10:08.000 --> 00:10:10.210 align:start position:0%
love and need Google and Amazon but the
unfair<00:10:08.330><c> advantages</c><00:10:08.870><c> that</c><00:10:09.230><c> accrue</c><00:10:09.589><c> to</c><00:10:09.620><c> Amazon</c>

00:10:10.210 --> 00:10:10.220 align:start position:0%
unfair advantages that accrue to Amazon
 

00:10:10.220 --> 00:10:13.180 align:start position:0%
unfair advantages that accrue to Amazon
in<00:10:10.370><c> its</c><00:10:10.520><c> e-commerce</c><00:10:10.760><c> activities</c><00:10:11.660><c> and</c><00:10:11.960><c> to</c><00:10:12.710><c> the</c>

00:10:13.180 --> 00:10:13.190 align:start position:0%
in its e-commerce activities and to the
 

00:10:13.190 --> 00:10:16.240 align:start position:0%
in its e-commerce activities and to the
AWS<00:10:13.760><c> cloud</c><00:10:14.150><c> are</c><00:10:14.450><c> staggering</c><00:10:15.020><c> as</c><00:10:15.200><c> are</c><00:10:16.100><c> those</c>

00:10:16.240 --> 00:10:16.250 align:start position:0%
AWS cloud are staggering as are those
 

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AWS cloud are staggering as are those
that<00:10:16.490><c> are</c><00:10:16.640><c> available</c><00:10:16.730><c> to</c><00:10:17.180><c> Google</c><00:10:17.330><c> a</c><00:10:17.950><c> new</c><00:10:18.950><c> and</c>

00:10:19.120 --> 00:10:19.130 align:start position:0%
that are available to Google a new and
 

00:10:19.130 --> 00:10:20.620 align:start position:0%
that are available to Google a new and
insidious<00:10:19.430><c> kind</c><00:10:19.790><c> of</c><00:10:19.880><c> platform</c><00:10:20.300><c> risk</c><00:10:20.480><c> has</c>

00:10:20.620 --> 00:10:20.630 align:start position:0%
insidious kind of platform risk has
 

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insidious kind of platform risk has
emerged<00:10:21.020><c> more</c><00:10:21.410><c> recently</c><00:10:21.830><c> just</c><00:10:22.130><c> as</c><00:10:22.730><c> platforms</c>

00:10:23.230 --> 00:10:23.240 align:start position:0%
emerged more recently just as platforms
 

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emerged more recently just as platforms
like<00:10:23.360><c> LinkedIn</c><00:10:23.900><c> like</c><00:10:24.410><c> Facebook</c><00:10:24.830><c> LinkedIn</c><00:10:25.280><c> and</c>

00:10:25.390 --> 00:10:25.400 align:start position:0%
like LinkedIn like Facebook LinkedIn and
 

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like LinkedIn like Facebook LinkedIn and
others<00:10:25.730><c> have</c><00:10:26.390><c> eaten</c><00:10:26.720><c> the</c><00:10:26.839><c> lunch</c><00:10:27.050><c> of</c><00:10:27.230><c> some</c>

00:10:27.400 --> 00:10:27.410 align:start position:0%
others have eaten the lunch of some
 

00:10:27.410 --> 00:10:29.680 align:start position:0%
others have eaten the lunch of some
startups<00:10:27.890><c> over</c><00:10:28.250><c> the</c><00:10:28.339><c> years</c><00:10:28.670><c> clouds</c><00:10:29.300><c> are</c><00:10:29.570><c> now</c>

00:10:29.680 --> 00:10:29.690 align:start position:0%
startups over the years clouds are now
 

00:10:29.690 --> 00:10:31.660 align:start position:0%
startups over the years clouds are now
cannibalizing<00:10:30.589><c> the</c><00:10:30.680><c> profits</c><00:10:31.100><c> of</c><00:10:31.250><c> companies</c>

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cannibalizing the profits of companies
 

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cannibalizing the profits of companies
built<00:10:32.000><c> around</c><00:10:32.480><c> open</c><00:10:32.810><c> source</c><00:10:33.080><c> projects</c><00:10:33.940><c> AWS</c>

00:10:34.930 --> 00:10:34.940 align:start position:0%
built around open source projects AWS
 

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built around open source projects AWS
and<00:10:35.210><c> some</c><00:10:35.390><c> Asian</c><00:10:35.630><c> cloud</c><00:10:36.050><c> providers</c><00:10:36.620><c> have</c><00:10:37.100><c> been</c>

00:10:37.120 --> 00:10:37.130 align:start position:0%
and some Asian cloud providers have been
 

00:10:37.130 --> 00:10:39.610 align:start position:0%
and some Asian cloud providers have been
accused<00:10:37.640><c> for</c><00:10:37.820><c> a</c><00:10:37.850><c> while</c><00:10:38.030><c> of</c><00:10:38.240><c> rewriting</c><00:10:38.660><c> reusing</c>

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accused for a while of rewriting reusing
 

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accused for a while of rewriting reusing
and<00:10:40.100><c> rebranding</c><00:10:40.760><c> products</c><00:10:41.150><c> without</c>

00:10:41.290 --> 00:10:41.300 align:start position:0%
and rebranding products without
 

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and rebranding products without
supplying<00:10:41.870><c> the</c><00:10:41.990><c> underline</c>

00:10:42.930 --> 00:10:42.940 align:start position:0%
supplying the underline
 

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supplying the underline
supporting<00:10:43.940><c> the</c><00:10:44.060><c> underlying</c><00:10:44.420><c> open</c><00:10:44.810><c> source</c>

00:10:45.069 --> 00:10:45.079 align:start position:0%
supporting the underlying open source
 

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supporting the underlying open source
and<00:10:45.410><c> often</c><00:10:46.100><c> eliminating</c><00:10:46.759><c> economic</c><00:10:47.360><c> benefits</c>

00:10:47.800 --> 00:10:47.810 align:start position:0%
and often eliminating economic benefits
 

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and often eliminating economic benefits
to<00:10:48.019><c> the</c><00:10:48.139><c> for-profit</c><00:10:48.350><c> companies</c><00:10:49.100><c> that</c><00:10:49.250><c> have</c>

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to the for-profit companies that have
 

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to the for-profit companies that have
commercialized<00:10:50.000><c> those</c><00:10:50.360><c> open</c><00:10:50.690><c> source</c>

00:10:50.889 --> 00:10:50.899 align:start position:0%
commercialized those open source
 

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commercialized those open source
projects<00:10:51.550><c> many</c><00:10:52.550><c> would</c><00:10:52.819><c> argue</c><00:10:53.120><c> that</c><00:10:53.149><c> this</c><00:10:53.389><c> sort</c>

00:10:53.650 --> 00:10:53.660 align:start position:0%
projects many would argue that this sort
 

00:10:53.660 --> 00:10:55.210 align:start position:0%
projects many would argue that this sort
of<00:10:53.690><c> behavior</c><00:10:53.810><c> is</c><00:10:54.350><c> perfectly</c><00:10:55.040><c> acceptable</c>

00:10:55.210 --> 00:10:55.220 align:start position:0%
of behavior is perfectly acceptable
 

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of behavior is perfectly acceptable
under<00:10:55.940><c> open</c><00:10:56.300><c> source</c><00:10:56.540><c> licensing</c><00:10:57.139><c> others</c><00:10:58.069><c> would</c>

00:10:58.240 --> 00:10:58.250 align:start position:0%
under open source licensing others would
 

00:10:58.250 --> 00:10:59.710 align:start position:0%
under open source licensing others would
argue<00:10:58.550><c> that</c><00:10:58.579><c> there's</c><00:10:58.910><c> an</c><00:10:59.060><c> implicit</c><00:10:59.329><c> social</c>

00:10:59.710 --> 00:10:59.720 align:start position:0%
argue that there's an implicit social
 

00:10:59.720 --> 00:11:02.499 align:start position:0%
argue that there's an implicit social
contract<00:11:00.439><c> and</c><00:11:00.649><c> that</c><00:11:01.310><c> companies</c><00:11:01.759><c> like</c><00:11:02.029><c> Amazon</c>

00:11:02.499 --> 00:11:02.509 align:start position:0%
contract and that companies like Amazon
 

00:11:02.509 --> 00:11:04.540 align:start position:0%
contract and that companies like Amazon
are<00:11:02.990><c> not</c><00:11:03.230><c> giving</c><00:11:03.589><c> back</c><00:11:03.740><c> when</c><00:11:04.069><c> they</c><00:11:04.160><c> capture</c>

00:11:04.540 --> 00:11:04.550 align:start position:0%
are not giving back when they capture
 

00:11:04.550 --> 00:11:06.960 align:start position:0%
are not giving back when they capture
value<00:11:04.730><c> from</c><00:11:05.089><c> the</c><00:11:05.209><c> open</c><00:11:05.449><c> source</c><00:11:05.600><c> community</c>

00:11:06.960 --> 00:11:06.970 align:start position:0%
value from the open source community
 

00:11:06.970 --> 00:11:09.249 align:start position:0%
value from the open source community
this<00:11:07.970><c> kind</c><00:11:08.209><c> of</c><00:11:08.269><c> anti-competitive</c><00:11:08.839><c> behavior</c>

00:11:09.249 --> 00:11:09.259 align:start position:0%
this kind of anti-competitive behavior
 

00:11:09.259 --> 00:11:11.559 align:start position:0%
this kind of anti-competitive behavior
is<00:11:09.709><c> enabled</c><00:11:10.129><c> by</c><00:11:10.310><c> vertical</c><00:11:10.730><c> integration</c>

00:11:11.559 --> 00:11:11.569 align:start position:0%
is enabled by vertical integration
 

00:11:11.569 --> 00:11:13.449 align:start position:0%
is enabled by vertical integration
I<00:11:11.600><c> believe</c><00:11:12.290><c> the</c><00:11:12.439><c> web</c><00:11:12.589><c> free</c><00:11:12.860><c> world</c><00:11:13.069><c> will</c><00:11:13.339><c> be</c>

00:11:13.449 --> 00:11:13.459 align:start position:0%
I believe the web free world will be
 

00:11:13.459 --> 00:11:15.730 align:start position:0%
I believe the web free world will be
largely<00:11:13.810><c> horizontally</c><00:11:14.810><c> layered</c><00:11:15.050><c> with</c>

00:11:15.730 --> 00:11:15.740 align:start position:0%
largely horizontally layered with
 

00:11:15.740 --> 00:11:17.740 align:start position:0%
largely horizontally layered with
explicit<00:11:16.160><c> interface</c><00:11:16.819><c> promises</c><00:11:17.449><c> between</c>

00:11:17.740 --> 00:11:17.750 align:start position:0%
explicit interface promises between
 

00:11:17.750 --> 00:11:20.679 align:start position:0%
explicit interface promises between
layers<00:11:18.199><c> or</c><00:11:19.040><c> between</c><00:11:19.310><c> synergistic</c><00:11:20.060><c> components</c>

00:11:20.679 --> 00:11:20.689 align:start position:0%
layers or between synergistic components
 

00:11:20.689 --> 00:11:24.280 align:start position:0%
layers or between synergistic components
at<00:11:20.870><c> each</c><00:11:21.170><c> layer</c><00:11:22.329><c> is</c><00:11:23.329><c> this</c><00:11:23.600><c> likely</c><00:11:24.050><c> to</c><00:11:24.079><c> be</c><00:11:24.259><c> a</c>

00:11:24.280 --> 00:11:24.290 align:start position:0%
at each layer is this likely to be a
 

00:11:24.290 --> 00:11:25.809 align:start position:0%
at each layer is this likely to be a
problem<00:11:24.350><c> for</c><00:11:24.829><c> our</c><00:11:24.889><c> space</c><00:11:25.250><c> given</c><00:11:25.670><c> that</c><00:11:25.759><c> our</c>

00:11:25.809 --> 00:11:25.819 align:start position:0%
problem for our space given that our
 

00:11:25.819 --> 00:11:27.939 align:start position:0%
problem for our space given that our
space<00:11:26.120><c> is</c><00:11:26.329><c> composed</c><00:11:26.750><c> of</c><00:11:26.930><c> largely</c><00:11:27.230><c> open-source</c>

00:11:27.939 --> 00:11:27.949 align:start position:0%
space is composed of largely open-source
 

00:11:27.949 --> 00:11:30.460 align:start position:0%
space is composed of largely open-source
projects<00:11:28.579><c> I</c><00:11:28.730><c> would</c><00:11:29.660><c> argue</c><00:11:29.810><c> that</c><00:11:29.990><c> we</c><00:11:30.170><c> have</c><00:11:30.199><c> an</c>

00:11:30.460 --> 00:11:30.470 align:start position:0%
projects I would argue that we have an
 

00:11:30.470 --> 00:11:33.129 align:start position:0%
projects I would argue that we have an
opportunity<00:11:31.060><c> unique</c><00:11:32.060><c> to</c><00:11:32.240><c> the</c><00:11:32.360><c> technology</c><00:11:32.959><c> to</c>

00:11:33.129 --> 00:11:33.139 align:start position:0%
opportunity unique to the technology to
 

00:11:33.139 --> 00:11:34.800 align:start position:0%
opportunity unique to the technology to
construct<00:11:33.589><c> things</c><00:11:33.800><c> differently</c>

00:11:34.800 --> 00:11:34.810 align:start position:0%
construct things differently
 

00:11:34.810 --> 00:11:36.369 align:start position:0%
construct things differently
applications<00:11:35.810><c> running</c><00:11:36.019><c> on</c><00:11:36.139><c> blockchain</c>

00:11:36.369 --> 00:11:36.379 align:start position:0%
applications running on blockchain
 

00:11:36.379 --> 00:11:38.590 align:start position:0%
applications running on blockchain
networks<00:11:36.920><c> are</c><00:11:37.430><c> likely</c><00:11:37.879><c> to</c><00:11:38.060><c> be</c><00:11:38.180><c> subject</c><00:11:38.569><c> to</c>

00:11:38.590 --> 00:11:38.600 align:start position:0%
networks are likely to be subject to
 

00:11:38.600 --> 00:11:41.619 align:start position:0%
networks are likely to be subject to
different<00:11:39.019><c> economics</c><00:11:39.589><c> cyber</c><00:11:40.459><c> economics</c><00:11:41.389><c> or</c>

00:11:41.619 --> 00:11:41.629 align:start position:0%
different economics cyber economics or
 

00:11:41.629 --> 00:11:44.230 align:start position:0%
different economics cyber economics or
crypto<00:11:42.079><c> economics</c><00:11:42.649><c> of</c><00:11:42.800><c> course</c><00:11:43.060><c> the</c><00:11:44.060><c> best</c>

00:11:44.230 --> 00:11:44.240 align:start position:0%
crypto economics of course the best
 

00:11:44.240 --> 00:11:47.019 align:start position:0%
crypto economics of course the best
blockchain<00:11:44.779><c> systems</c><00:11:45.290><c> are</c><00:11:45.699><c> explicit</c><00:11:46.699><c> about</c>

00:11:47.019 --> 00:11:47.029 align:start position:0%
blockchain systems are explicit about
 

00:11:47.029 --> 00:11:49.240 align:start position:0%
blockchain systems are explicit about
what<00:11:47.089><c> these</c><00:11:47.480><c> costs</c><00:11:48.019><c> are</c><00:11:48.230><c> and</c><00:11:48.529><c> these</c><00:11:49.009><c> costs</c>

00:11:49.240 --> 00:11:49.250 align:start position:0%
what these costs are and these costs
 

00:11:49.250 --> 00:11:51.009 align:start position:0%
what these costs are and these costs
should<00:11:49.459><c> be</c><00:11:49.519><c> paid</c><00:11:49.880><c> by</c><00:11:50.089><c> the</c><00:11:50.149><c> appropriate</c><00:11:50.660><c> actor</c>

00:11:51.009 --> 00:11:51.019 align:start position:0%
should be paid by the appropriate actor
 

00:11:51.019 --> 00:11:53.980 align:start position:0%
should be paid by the appropriate actor
in<00:11:51.350><c> some</c><00:11:52.279><c> cases</c><00:11:52.699><c> it</c><00:11:52.850><c> will</c><00:11:52.939><c> be</c><00:11:53.000><c> the</c><00:11:53.269><c> end</c><00:11:53.389><c> user</c><00:11:53.660><c> in</c>

00:11:53.980 --> 00:11:53.990 align:start position:0%
in some cases it will be the end user in
 

00:11:53.990 --> 00:11:55.929 align:start position:0%
in some cases it will be the end user in
some<00:11:54.350><c> cases</c><00:11:54.740><c> it</c><00:11:54.860><c> will</c><00:11:54.980><c> be</c><00:11:55.040><c> the</c><00:11:55.250><c> app</c><00:11:55.339><c> publisher</c>

00:11:55.929 --> 00:11:55.939 align:start position:0%
some cases it will be the app publisher
 

00:11:55.939 --> 00:11:58.090 align:start position:0%
some cases it will be the app publisher
perhaps<00:11:56.630><c> via</c><00:11:56.870><c> the</c><00:11:57.050><c> gas-station</c><00:11:57.439><c> network</c><00:11:57.889><c> or</c>

00:11:58.090 --> 00:11:58.100 align:start position:0%
perhaps via the gas-station network or
 

00:11:58.100 --> 00:12:00.120 align:start position:0%
perhaps via the gas-station network or
other<00:11:58.279><c> meta</c><00:11:58.639><c> transaction</c><00:11:59.360><c> mechanism</c>

00:12:00.120 --> 00:12:00.130 align:start position:0%
other meta transaction mechanism
 

00:12:00.130 --> 00:12:02.350 align:start position:0%
other meta transaction mechanism
blockchain<00:12:01.130><c> networks</c><00:12:01.459><c> will</c><00:12:01.699><c> better</c><00:12:01.939><c> account</c>

00:12:02.350 --> 00:12:02.360 align:start position:0%
blockchain networks will better account
 

00:12:02.360 --> 00:12:04.720 align:start position:0%
blockchain networks will better account
for<00:12:02.660><c> possible</c><00:12:03.139><c> negative</c><00:12:03.490><c> externalities</c><00:12:04.490><c> and</c>

00:12:04.720 --> 00:12:04.730 align:start position:0%
for possible negative externalities and
 

00:12:04.730 --> 00:12:07.090 align:start position:0%
for possible negative externalities and
bring<00:12:05.329><c> them</c><00:12:05.509><c> inside</c><00:12:05.779><c> the</c><00:12:06.259><c> tent</c><00:12:06.500><c> while</c>

00:12:07.090 --> 00:12:07.100 align:start position:0%
bring them inside the tent while
 

00:12:07.100 --> 00:12:09.519 align:start position:0%
bring them inside the tent while
benefiting<00:12:07.699><c> naturally</c><00:12:08.209><c> and</c><00:12:08.449><c> massively</c><00:12:08.899><c> from</c>

00:12:09.519 --> 00:12:09.529 align:start position:0%
benefiting naturally and massively from
 

00:12:09.529 --> 00:12:11.379 align:start position:0%
benefiting naturally and massively from
positive<00:12:10.040><c> externalities</c><00:12:10.730><c> like</c><00:12:11.000><c> network</c>

00:12:11.379 --> 00:12:11.389 align:start position:0%
positive externalities like network
 

00:12:11.389 --> 00:12:14.050 align:start position:0%
positive externalities like network
effects<00:12:11.899><c> all</c><00:12:12.579><c> participants</c><00:12:13.579><c> on</c><00:12:13.880><c> these</c>

00:12:14.050 --> 00:12:14.060 align:start position:0%
effects all participants on these
 

00:12:14.060 --> 00:12:15.910 align:start position:0%
effects all participants on these
networks<00:12:14.480><c> will</c><00:12:15.079><c> be</c><00:12:15.230><c> doing</c><00:12:15.380><c> so</c><00:12:15.649><c> from</c><00:12:15.860><c> a</c>

00:12:15.910 --> 00:12:15.920 align:start position:0%
networks will be doing so from a
 

00:12:15.920 --> 00:12:18.069 align:start position:0%
networks will be doing so from a
position<00:12:16.100><c> of</c><00:12:16.399><c> personal</c><00:12:16.850><c> or</c><00:12:17.060><c> corporate</c><00:12:17.360><c> agency</c>

00:12:18.069 --> 00:12:18.079 align:start position:0%
position of personal or corporate agency
 

00:12:18.079 --> 00:12:20.620 align:start position:0%
position of personal or corporate agency
many<00:12:19.009><c> will</c><00:12:19.189><c> be</c><00:12:19.310><c> compensated</c><00:12:19.939><c> themselves</c><00:12:20.449><c> for</c>

00:12:20.620 --> 00:12:20.630 align:start position:0%
many will be compensated themselves for
 

00:12:20.630 --> 00:12:22.210 align:start position:0%
many will be compensated themselves for
the<00:12:20.689><c> roles</c><00:12:20.870><c> they</c><00:12:21.079><c> play</c><00:12:21.290><c> on</c><00:12:21.410><c> these</c><00:12:21.529><c> networks</c><00:12:21.980><c> as</c>

00:12:22.210 --> 00:12:22.220 align:start position:0%
the roles they play on these networks as
 

00:12:22.220 --> 00:12:24.249 align:start position:0%
the roles they play on these networks as
they<00:12:22.759><c> in</c><00:12:22.880><c> turn</c><00:12:23.089><c> compensate</c><00:12:23.660><c> other</c><00:12:23.810><c> people</c>

00:12:24.249 --> 00:12:24.259 align:start position:0%
they in turn compensate other people
 

00:12:24.259 --> 00:12:28.650 align:start position:0%
they in turn compensate other people
orcs<00:12:25.160><c> or</c><00:12:25.399><c> dabs</c><00:12:25.790><c> for</c><00:12:26.750><c> the</c><00:12:26.839><c> value</c><00:12:27.110><c> they</c><00:12:27.259><c> provide</c>

00:12:28.650 --> 00:12:28.660 align:start position:0%
orcs or dabs for the value they provide
 

00:12:28.660 --> 00:12:31.090 align:start position:0%
orcs or dabs for the value they provide
platform<00:12:29.660><c> risk</c><00:12:29.930><c> will</c><00:12:30.170><c> be</c><00:12:30.199><c> reduced</c><00:12:30.769><c> by</c>

00:12:31.090 --> 00:12:31.100 align:start position:0%
platform risk will be reduced by
 

00:12:31.100 --> 00:12:33.730 align:start position:0%
platform risk will be reduced by
decentralized<00:12:31.910><c> governance</c><00:12:32.269><c> and</c><00:12:32.569><c> the</c><00:12:33.199><c> ability</c>

00:12:33.730 --> 00:12:33.740 align:start position:0%
decentralized governance and the ability
 

00:12:33.740 --> 00:12:36.400 align:start position:0%
decentralized governance and the ability
to<00:12:33.769><c> fork</c><00:12:34.189><c> open</c><00:12:34.579><c> source</c><00:12:34.819><c> code</c><00:12:35.089><c> bases</c><00:12:35.540><c> to</c><00:12:36.170><c> launch</c>

00:12:36.400 --> 00:12:36.410 align:start position:0%
to fork open source code bases to launch
 

00:12:36.410 --> 00:12:39.449 align:start position:0%
to fork open source code bases to launch
competing<00:12:37.339><c> platforms</c><00:12:37.550><c> or</c><00:12:38.209><c> even</c><00:12:38.750><c> to</c><00:12:38.930><c> fork</c>

00:12:39.449 --> 00:12:39.459 align:start position:0%
competing platforms or even to fork
 

00:12:39.459 --> 00:12:41.860 align:start position:0%
competing platforms or even to fork
operating<00:12:40.459><c> platforms</c><00:12:41.029><c> when</c><00:12:41.240><c> they</c><00:12:41.360><c> cease</c><00:12:41.629><c> to</c>

00:12:41.860 --> 00:12:41.870 align:start position:0%
operating platforms when they cease to
 

00:12:41.870 --> 00:12:44.740 align:start position:0%
operating platforms when they cease to
serve<00:12:42.079><c> their</c><00:12:42.350><c> entire</c><00:12:42.649><c> constituency</c><00:12:43.600><c> we</c><00:12:44.600><c> will</c>

00:12:44.740 --> 00:12:44.750 align:start position:0%
serve their entire constituency we will
 

00:12:44.750 --> 00:12:46.420 align:start position:0%
serve their entire constituency we will
all<00:12:44.870><c> come</c><00:12:45.139><c> to</c><00:12:45.170><c> understand</c><00:12:45.680><c> that</c><00:12:45.769><c> Forks</c><00:12:46.220><c> are</c>

00:12:46.420 --> 00:12:46.430 align:start position:0%
all come to understand that Forks are
 

00:12:46.430 --> 00:12:48.720 align:start position:0%
all come to understand that Forks are
very<00:12:46.699><c> healthy</c><00:12:47.120><c> and</c><00:12:47.240><c> powerful</c><00:12:47.449><c> economic</c><00:12:48.230><c> tool</c>

00:12:48.720 --> 00:12:48.730 align:start position:0%
very healthy and powerful economic tool
 

00:12:48.730 --> 00:12:50.860 align:start position:0%
very healthy and powerful economic tool
eventually<00:12:49.730><c> the</c><00:12:49.850><c> more</c><00:12:50.000><c> advanced</c><00:12:50.360><c> platforms</c>

00:12:50.860 --> 00:12:50.870 align:start position:0%
eventually the more advanced platforms
 

00:12:50.870 --> 00:12:52.569 align:start position:0%
eventually the more advanced platforms
will<00:12:51.019><c> make</c><00:12:51.139><c> it</c><00:12:51.259><c> easy</c><00:12:51.470><c> to</c><00:12:51.620><c> fork</c><00:12:52.009><c> themselves</c>

00:12:52.569 --> 00:12:52.579 align:start position:0%
will make it easy to fork themselves
 

00:12:52.579 --> 00:12:55.260 align:start position:0%
will make it easy to fork themselves
copying<00:12:53.449><c> the</c><00:12:53.660><c> over</c><00:12:54.079><c> the</c><00:12:54.230><c> entire</c><00:12:54.589><c> state</c>

00:12:55.260 --> 00:12:55.270 align:start position:0%
copying the over the entire state
 

00:12:55.270 --> 00:12:57.450 align:start position:0%
copying the over the entire state
or<00:12:55.690><c> just</c><00:12:56.110><c> building</c><00:12:56.440><c> stateless</c><00:12:56.890><c> systems</c><00:12:57.250><c> that</c>

00:12:57.450 --> 00:12:57.460 align:start position:0%
or just building stateless systems that
 

00:12:57.460 --> 00:12:59.820 align:start position:0%
or just building stateless systems that
make<00:12:57.610><c> forking</c><00:12:58.060><c> easy</c><00:12:58.330><c> to</c><00:12:59.170><c> ensure</c><00:12:59.440><c> that</c><00:12:59.470><c> those</c>

00:12:59.820 --> 00:12:59.830 align:start position:0%
make forking easy to ensure that those
 

00:12:59.830 --> 00:13:01.590 align:start position:0%
make forking easy to ensure that those
in<00:13:00.190><c> governance</c><00:13:00.790><c> of</c><00:13:01.000><c> the</c><00:13:01.090><c> system</c><00:13:01.450><c> are</c>

00:13:01.590 --> 00:13:01.600 align:start position:0%
in governance of the system are
 

00:13:01.600 --> 00:13:04.230 align:start position:0%
in governance of the system are
incentivized<00:13:02.170><c> to</c><00:13:02.440><c> be</c><00:13:02.830><c> and</c><00:13:03.100><c> remain</c><00:13:03.850><c> good</c>

00:13:04.230 --> 00:13:04.240 align:start position:0%
incentivized to be and remain good
 

00:13:04.240 --> 00:13:07.410 align:start position:0%
incentivized to be and remain good
stewards<00:13:04.690><c> of</c><00:13:04.810><c> the</c><00:13:04.930><c> system</c><00:13:05.790><c> forks</c><00:13:06.790><c> effectively</c>

00:13:07.410 --> 00:13:07.420 align:start position:0%
stewards of the system forks effectively
 

00:13:07.420 --> 00:13:10.140 align:start position:0%
stewards of the system forks effectively
keep<00:13:07.660><c> those</c><00:13:07.930><c> exiting</c><00:13:08.740><c> within</c><00:13:09.730><c> the</c><00:13:09.910><c> broader</c>

00:13:10.140 --> 00:13:10.150 align:start position:0%
keep those exiting within the broader
 

00:13:10.150 --> 00:13:12.990 align:start position:0%
keep those exiting within the broader
tent<00:13:10.830><c> enabling</c><00:13:11.830><c> the</c><00:13:11.950><c> extended</c><00:13:12.370><c> community</c><00:13:12.520><c> to</c>

00:13:12.990 --> 00:13:13.000 align:start position:0%
tent enabling the extended community to
 

00:13:13.000 --> 00:13:15.660 align:start position:0%
tent enabling the extended community to
define<00:13:13.330><c> itself</c><00:13:13.720><c> in</c><00:13:14.020><c> broader</c><00:13:14.650><c> and</c><00:13:14.980><c> more</c><00:13:15.310><c> varied</c>

00:13:15.660 --> 00:13:15.670 align:start position:0%
define itself in broader and more varied
 

00:13:15.670 --> 00:13:18.360 align:start position:0%
define itself in broader and more varied
terms<00:13:16.050><c> John</c><00:13:17.050><c> Gilmore</c><00:13:17.320><c> would</c><00:13:17.620><c> be</c><00:13:17.770><c> a</c><00:13:17.800><c> huge</c><00:13:18.070><c> fan</c>

00:13:18.360 --> 00:13:18.370 align:start position:0%
terms John Gilmore would be a huge fan
 

00:13:18.370 --> 00:13:19.830 align:start position:0%
terms John Gilmore would be a huge fan
of<00:13:18.400><c> the</c><00:13:18.670><c> forking</c><00:13:19.090><c> mechanism</c>

00:13:19.830 --> 00:13:19.840 align:start position:0%
of the forking mechanism
 

00:13:19.840 --> 00:13:23.910 align:start position:0%
of the forking mechanism
I<00:13:20.970><c> am</c><00:13:21.970><c> powerfully</c><00:13:22.480><c> focused</c><00:13:22.870><c> on</c><00:13:23.020><c> maximal</c>

00:13:23.910 --> 00:13:23.920 align:start position:0%
I am powerfully focused on maximal
 

00:13:23.920 --> 00:13:26.640 align:start position:0%
I am powerfully focused on maximal
decentralization<00:13:24.670><c> permissionless</c><00:13:25.630><c> the</c><00:13:26.470><c> base</c>

00:13:26.640 --> 00:13:26.650 align:start position:0%
decentralization permissionless the base
 

00:13:26.650 --> 00:13:29.040 align:start position:0%
decentralization permissionless the base
trust<00:13:27.010><c> layer</c><00:13:27.190><c> that</c><00:13:27.400><c> is</c><00:13:27.460><c> aetherium</c><00:13:28.060><c> and</c><00:13:28.390><c> its</c>

00:13:29.040 --> 00:13:29.050 align:start position:0%
trust layer that is aetherium and its
 

00:13:29.050 --> 00:13:30.480 align:start position:0%
trust layer that is aetherium and its
potential<00:13:29.560><c> to</c><00:13:29.620><c> be</c><00:13:29.740><c> a</c><00:13:29.770><c> global</c><00:13:30.190><c> settlement</c>

00:13:30.480 --> 00:13:30.490 align:start position:0%
potential to be a global settlement
 

00:13:30.490 --> 00:13:32.700 align:start position:0%
potential to be a global settlement
layer<00:13:30.790><c> largely</c><00:13:31.330><c> devoid</c><00:13:31.750><c> of</c><00:13:31.930><c> platform</c><00:13:32.440><c> risk</c>

00:13:32.700 --> 00:13:32.710 align:start position:0%
layer largely devoid of platform risk
 

00:13:32.710 --> 00:13:35.460 align:start position:0%
layer largely devoid of platform risk
for<00:13:33.460><c> natively</c><00:13:33.760><c> digital</c><00:13:34.210><c> assets</c><00:13:34.570><c> or</c><00:13:34.750><c> digitized</c>

00:13:35.460 --> 00:13:35.470 align:start position:0%
for natively digital assets or digitized
 

00:13:35.470 --> 00:13:38.070 align:start position:0%
for natively digital assets or digitized
real-world<00:13:36.100><c> assets</c><00:13:36.730><c> but</c><00:13:37.540><c> I</c><00:13:37.600><c> think</c><00:13:37.870><c> it</c><00:13:37.990><c> is</c>

00:13:38.070 --> 00:13:38.080 align:start position:0%
real-world assets but I think it is
 

00:13:38.080 --> 00:13:39.660 align:start position:0%
real-world assets but I think it is
short-sighted<00:13:38.530><c> when</c><00:13:38.830><c> some</c><00:13:39.070><c> some</c><00:13:39.400><c> people</c>

00:13:39.660 --> 00:13:39.670 align:start position:0%
short-sighted when some some people
 

00:13:39.670 --> 00:13:41.280 align:start position:0%
short-sighted when some some people
believe<00:13:39.880><c> that</c><00:13:40.060><c> all</c><00:13:40.150><c> blockchain</c><00:13:40.630><c> systems</c><00:13:41.050><c> must</c>

00:13:41.280 --> 00:13:41.290 align:start position:0%
believe that all blockchain systems must
 

00:13:41.290 --> 00:13:43.740 align:start position:0%
believe that all blockchain systems must
be<00:13:41.380><c> fully</c><00:13:41.740><c> permissionless</c><00:13:42.400><c> and</c><00:13:42.790><c> maximally</c>

00:13:43.740 --> 00:13:43.750 align:start position:0%
be fully permissionless and maximally
 

00:13:43.750 --> 00:13:45.840 align:start position:0%
be fully permissionless and maximally
decentralized<00:13:44.470><c> when</c><00:13:45.340><c> you</c><00:13:45.430><c> were</c><00:13:45.520><c> issuing</c>

00:13:45.840 --> 00:13:45.850 align:start position:0%
decentralized when you were issuing
 

00:13:45.850 --> 00:13:48.630 align:start position:0%
decentralized when you were issuing
valuable<00:13:46.390><c> assets</c><00:13:46.810><c> or</c><00:13:47.080><c> anchoring</c><00:13:47.830><c> into</c><00:13:48.160><c> a</c><00:13:48.190><c> base</c>

00:13:48.630 --> 00:13:48.640 align:start position:0%
valuable assets or anchoring into a base
 

00:13:48.640 --> 00:13:51.390 align:start position:0%
valuable assets or anchoring into a base
trust<00:13:49.030><c> layer</c><00:13:49.240><c> that</c><00:13:50.050><c> layer</c><00:13:50.380><c> must</c><00:13:50.740><c> be</c><00:13:50.920><c> maximally</c>

00:13:51.390 --> 00:13:51.400 align:start position:0%
trust layer that layer must be maximally
 

00:13:51.400 --> 00:13:53.310 align:start position:0%
trust layer that layer must be maximally
decentralized<00:13:52.060><c> and</c><00:13:52.360><c> that</c><00:13:52.510><c> requires</c><00:13:52.930><c> it</c><00:13:53.110><c> to</c><00:13:53.230><c> be</c>

00:13:53.310 --> 00:13:53.320 align:start position:0%
decentralized and that requires it to be
 

00:13:53.320 --> 00:13:55.350 align:start position:0%
decentralized and that requires it to be
completely<00:13:53.770><c> permissionless</c><00:13:54.310><c> but</c><00:13:55.120><c> adding</c>

00:13:55.350 --> 00:13:55.360 align:start position:0%
completely permissionless but adding
 

00:13:55.360 --> 00:13:57.660 align:start position:0%
completely permissionless but adding
some<00:13:55.690><c> decentralization</c><00:13:56.500><c> to</c><00:13:56.830><c> use</c><00:13:57.010><c> cases</c><00:13:57.310><c> that</c>

00:13:57.660 --> 00:13:57.670 align:start position:0%
some decentralization to use cases that
 

00:13:57.670 --> 00:13:59.670 align:start position:0%
some decentralization to use cases that
are<00:13:58.060><c> enacted</c><00:13:58.540><c> among</c><00:13:59.080><c> a</c><00:13:59.110><c> small</c><00:13:59.320><c> set</c><00:13:59.650><c> of</c>

00:13:59.670 --> 00:13:59.680 align:start position:0%
are enacted among a small set of
 

00:13:59.680 --> 00:14:02.070 align:start position:0%
are enacted among a small set of
counterparties<00:14:00.430><c> is</c><00:14:00.610><c> enormous</c><00:14:01.270><c> ly</c><00:14:01.570><c> valuable</c>

00:14:02.070 --> 00:14:02.080 align:start position:0%
counterparties is enormous ly valuable
 

00:14:02.080 --> 00:14:04.380 align:start position:0%
counterparties is enormous ly valuable
and<00:14:02.320><c> this</c><00:14:02.890><c> is</c><00:14:03.070><c> best</c><00:14:03.310><c> done</c><00:14:03.460><c> on</c><00:14:03.850><c> a</c><00:14:03.880><c> private</c>

00:14:04.380 --> 00:14:04.390 align:start position:0%
and this is best done on a private
 

00:14:04.390 --> 00:14:07.860 align:start position:0%
and this is best done on a private
permission<00:14:04.960><c> system</c><00:14:05.230><c> for</c><00:14:05.680><c> now</c><00:14:05.770><c> a</c><00:14:06.870><c> commodity</c>

00:14:07.860 --> 00:14:07.870 align:start position:0%
permission system for now a commodity
 

00:14:07.870 --> 00:14:09.450 align:start position:0%
permission system for now a commodity
trade<00:14:08.110><c> finance</c><00:14:08.470><c> platform</c><00:14:08.740><c> for</c><00:14:09.130><c> instance</c>

00:14:09.450 --> 00:14:09.460 align:start position:0%
trade finance platform for instance
 

00:14:09.460 --> 00:14:11.370 align:start position:0%
trade finance platform for instance
linking<00:14:09.910><c> billing</c><00:14:10.240><c> banks</c><00:14:10.720><c> and</c><00:14:10.870><c> commodity</c>

00:14:11.370 --> 00:14:11.380 align:start position:0%
linking billing banks and commodity
 

00:14:11.380 --> 00:14:13.110 align:start position:0%
linking billing banks and commodity
traders<00:14:11.860><c> does</c><00:14:12.550><c> not</c><00:14:12.700><c> need</c><00:14:12.850><c> radical</c>

00:14:13.110 --> 00:14:13.120 align:start position:0%
traders does not need radical
 

00:14:13.120 --> 00:14:15.090 align:start position:0%
traders does not need radical
decentralization<00:14:14.080><c> and</c><00:14:14.320><c> permissionless</c><00:14:14.830><c> in</c>

00:14:15.090 --> 00:14:15.100 align:start position:0%
decentralization and permissionless in
 

00:14:15.100 --> 00:14:17.310 align:start position:0%
decentralization and permissionless in
2019<00:14:15.820><c> in</c><00:14:16.210><c> order</c><00:14:16.630><c> to</c><00:14:16.780><c> be</c><00:14:16.870><c> an</c><00:14:16.960><c> order</c><00:14:17.260><c> of</c>

00:14:17.310 --> 00:14:17.320 align:start position:0%
2019 in order to be an order of
 

00:14:17.320 --> 00:14:19.830 align:start position:0%
2019 in order to be an order of
magnitude<00:14:17.860><c> or</c><00:14:17.950><c> more</c><00:14:18.160><c> better</c><00:14:18.400><c> platform</c><00:14:19.300><c> for</c>

00:14:19.830 --> 00:14:19.840 align:start position:0%
magnitude or more better platform for
 

00:14:19.840 --> 00:14:21.720 align:start position:0%
magnitude or more better platform for
conducting<00:14:20.320><c> trade</c><00:14:20.650><c> amongst</c><00:14:21.160><c> those</c><00:14:21.250><c> parties</c>

00:14:21.720 --> 00:14:21.730 align:start position:0%
conducting trade amongst those parties
 

00:14:21.730 --> 00:14:25.290 align:start position:0%
conducting trade amongst those parties
come<00:14:22.660><c> 2020</c><00:14:23.320><c> it</c><00:14:23.920><c> may</c><00:14:24.190><c> make</c><00:14:24.370><c> sense</c><00:14:24.400><c> to</c><00:14:24.940><c> link</c><00:14:25.120><c> that</c>

00:14:25.290 --> 00:14:25.300 align:start position:0%
come 2020 it may make sense to link that
 

00:14:25.300 --> 00:14:26.610 align:start position:0%
come 2020 it may make sense to link that
commodity<00:14:25.540><c> trade</c><00:14:26.020><c> finance</c><00:14:26.410><c> platform</c>

00:14:26.610 --> 00:14:26.620 align:start position:0%
commodity trade finance platform
 

00:14:26.620 --> 00:14:28.620 align:start position:0%
commodity trade finance platform
laterally<00:14:27.400><c> into</c><00:14:27.550><c> a</c><00:14:27.700><c> commodities</c><00:14:28.210><c> trading</c>

00:14:28.620 --> 00:14:28.630 align:start position:0%
laterally into a commodities trading
 

00:14:28.630 --> 00:14:30.870 align:start position:0%
laterally into a commodities trading
platform<00:14:29.140><c> and</c><00:14:29.350><c> into</c><00:14:30.190><c> a</c><00:14:30.220><c> payments</c><00:14:30.670><c> platform</c>

00:14:30.870 --> 00:14:30.880 align:start position:0%
platform and into a payments platform
 

00:14:30.880 --> 00:14:33.510 align:start position:0%
platform and into a payments platform
and<00:14:31.840><c> into</c><00:14:32.260><c> a</c><00:14:32.440><c> corporate</c><00:14:32.890><c> identity</c><00:14:33.340><c> platform</c>

00:14:33.510 --> 00:14:33.520 align:start position:0%
and into a corporate identity platform
 

00:14:33.520 --> 00:14:36.510 align:start position:0%
and into a corporate identity platform
and<00:14:33.970><c> into</c><00:14:34.090><c> an</c><00:14:34.390><c> insurance</c><00:14:34.540><c> platform</c><00:14:35.410><c> etc</c><00:14:36.010><c> these</c>

00:14:36.510 --> 00:14:36.520 align:start position:0%
and into an insurance platform etc these
 

00:14:36.520 --> 00:14:38.220 align:start position:0%
and into an insurance platform etc these
networks<00:14:36.940><c> can</c><00:14:37.120><c> be</c><00:14:37.150><c> linked</c><00:14:37.510><c> to</c><00:14:37.600><c> one</c><00:14:37.750><c> or</c><00:14:37.900><c> one</c>

00:14:38.220 --> 00:14:38.230 align:start position:0%
networks can be linked to one or one
 

00:14:38.230 --> 00:14:41.100 align:start position:0%
networks can be linked to one or one
another<00:14:38.500><c> laterally</c><00:14:39.100><c> using</c><00:14:39.850><c> bridges</c><00:14:40.210><c> or</c><00:14:40.750><c> using</c>

00:14:41.100 --> 00:14:41.110 align:start position:0%
another laterally using bridges or using
 

00:14:41.110 --> 00:14:42.840 align:start position:0%
another laterally using bridges or using
the<00:14:41.230><c> Lacroix</c><00:14:41.589><c> leti</c><00:14:41.830><c> technology</c><00:14:42.460><c> which</c><00:14:42.670><c> can</c>

00:14:42.840 --> 00:14:42.850 align:start position:0%
the Lacroix leti technology which can
 

00:14:42.850 --> 00:14:45.420 align:start position:0%
the Lacroix leti technology which can
enable<00:14:43.140><c> unintimidating</c><00:14:44.140><c> to</c><00:14:44.890><c> trustless</c>

00:14:45.420 --> 00:14:45.430 align:start position:0%
enable unintimidating to trustless
 

00:14:45.430 --> 00:14:48.150 align:start position:0%
enable unintimidating to trustless
atomic<00:14:45.970><c> swaps</c><00:14:46.270><c> or</c><00:14:46.600><c> message</c><00:14:47.470><c> passing</c><00:14:47.920><c> across</c>

00:14:48.150 --> 00:14:48.160 align:start position:0%
atomic swaps or message passing across
 

00:14:48.160 --> 00:14:50.850 align:start position:0%
atomic swaps or message passing across
network<00:14:48.640><c> boundaries</c><00:14:49.120><c> the</c><00:14:50.020><c> quality</c><00:14:50.440><c> already</c>

00:14:50.850 --> 00:14:50.860 align:start position:0%
network boundaries the quality already
 

00:14:50.860 --> 00:14:53.220 align:start position:0%
network boundaries the quality already
links<00:14:51.160><c> aetherium</c><00:14:51.610><c> and</c><00:14:51.880><c> bitcoin</c><00:14:52.360><c> trust</c><00:14:52.839><c> lessly</c>

00:14:53.220 --> 00:14:53.230 align:start position:0%
links aetherium and bitcoin trust lessly
 

00:14:53.230 --> 00:14:56.910 align:start position:0%
links aetherium and bitcoin trust lessly
and<00:14:53.850><c> by</c><00:14:54.850><c> 2021</c><00:14:55.510><c> it</c><00:14:55.810><c> may</c><00:14:55.990><c> make</c><00:14:56.200><c> sense</c><00:14:56.380><c> to</c><00:14:56.530><c> anchor</c>

00:14:56.910 --> 00:14:56.920 align:start position:0%
and by 2021 it may make sense to anchor
 

00:14:56.920 --> 00:14:58.950 align:start position:0%
and by 2021 it may make sense to anchor
all<00:14:56.950><c> those</c><00:14:57.250><c> platforms</c><00:14:57.510><c> down</c><00:14:58.510><c> into</c><00:14:58.870><c> the</c>

00:14:58.950 --> 00:14:58.960 align:start position:0%
all those platforms down into the
 

00:14:58.960 --> 00:15:00.900 align:start position:0%
all those platforms down into the
theorem<00:14:59.350><c> based</c><00:14:59.589><c> trust</c><00:14:59.890><c> layer</c><00:15:00.160><c> for</c><00:15:00.550><c> increased</c>

00:15:00.900 --> 00:15:00.910 align:start position:0%
theorem based trust layer for increased
 

00:15:00.910 --> 00:15:03.570 align:start position:0%
theorem based trust layer for increased
security<00:15:01.270><c> without</c><00:15:02.050><c> sacrificing</c><00:15:02.860><c> scalability</c>

00:15:03.570 --> 00:15:03.580 align:start position:0%
security without sacrificing scalability
 

00:15:03.580 --> 00:15:06.210 align:start position:0%
security without sacrificing scalability
and<00:15:03.850><c> also</c><00:15:04.839><c> so</c><00:15:05.260><c> that</c><00:15:05.290><c> the</c><00:15:05.530><c> base</c><00:15:05.710><c> layer</c><00:15:05.980><c> can</c>

00:15:06.210 --> 00:15:06.220 align:start position:0%
and also so that the base layer can
 

00:15:06.220 --> 00:15:08.350 align:start position:0%
and also so that the base layer can
serve<00:15:06.430><c> as</c><00:15:06.580><c> a</c><00:15:06.610><c> trustworthy</c><00:15:07.060><c> message</c><00:15:07.720><c> and</c>

00:15:08.350 --> 00:15:08.360 align:start position:0%
serve as a trustworthy message and
 

00:15:08.360 --> 00:15:10.509 align:start position:0%
serve as a trustworthy message and
transaction<00:15:09.019><c> bus</c><00:15:09.230><c> between</c><00:15:09.950><c> a</c><00:15:09.980><c> wide</c><00:15:10.220><c> variety</c>

00:15:10.509 --> 00:15:10.519 align:start position:0%
transaction bus between a wide variety
 

00:15:10.519 --> 00:15:13.480 align:start position:0%
transaction bus between a wide variety
of<00:15:10.700><c> applications</c><00:15:11.890><c> this</c><00:15:12.890><c> suggests</c><00:15:13.040><c> that</c><00:15:13.339><c> the</c>

00:15:13.480 --> 00:15:13.490 align:start position:0%
of applications this suggests that the
 

00:15:13.490 --> 00:15:15.069 align:start position:0%
of applications this suggests that the
architecture<00:15:14.029><c> of</c><00:15:14.060><c> the</c><00:15:14.180><c> decentralized</c><00:15:14.870><c> world</c>

00:15:15.069 --> 00:15:15.079 align:start position:0%
architecture of the decentralized world
 

00:15:15.079 --> 00:15:17.500 align:start position:0%
architecture of the decentralized world
wide<00:15:15.320><c> web</c><00:15:15.589><c> will</c><00:15:16.190><c> look</c><00:15:16.399><c> like</c><00:15:16.610><c> a</c><00:15:16.640><c> patchwork</c><00:15:17.000><c> of</c>

00:15:17.500 --> 00:15:17.510 align:start position:0%
wide web will look like a patchwork of
 

00:15:17.510 --> 00:15:20.259 align:start position:0%
wide web will look like a patchwork of
block<00:15:17.779><c> chains</c><00:15:18.110><c> some</c><00:15:18.950><c> possibly</c><00:15:19.640><c> private</c><00:15:20.120><c> and</c>

00:15:20.259 --> 00:15:20.269 align:start position:0%
block chains some possibly private and
 

00:15:20.269 --> 00:15:22.449 align:start position:0%
block chains some possibly private and
permissioned<00:15:20.750><c> linked</c><00:15:21.620><c> to</c><00:15:21.740><c> one</c><00:15:21.890><c> another</c><00:15:21.920><c> and</c>

00:15:22.449 --> 00:15:22.459 align:start position:0%
permissioned linked to one another and
 

00:15:22.459 --> 00:15:24.190 align:start position:0%
permissioned linked to one another and
anchored<00:15:23.120><c> down</c><00:15:23.269><c> into</c><00:15:23.600><c> the</c><00:15:23.720><c> permissionless</c>

00:15:24.190 --> 00:15:24.200 align:start position:0%
anchored down into the permissionless
 

00:15:24.200 --> 00:15:26.620 align:start position:0%
anchored down into the permissionless
and<00:15:24.560><c> maximally</c><00:15:25.220><c> decentralized</c><00:15:26.000><c> based</c><00:15:26.329><c> trust</c>

00:15:26.620 --> 00:15:26.630 align:start position:0%
and maximally decentralized based trust
 

00:15:26.630 --> 00:15:29.050 align:start position:0%
and maximally decentralized based trust
layer<00:15:26.930><c> using</c><00:15:27.769><c> a</c><00:15:27.829><c> variety</c><00:15:27.980><c> of</c><00:15:28.250><c> techniques</c><00:15:28.700><c> that</c>

00:15:29.050 --> 00:15:29.060 align:start position:0%
layer using a variety of techniques that
 

00:15:29.060 --> 00:15:30.910 align:start position:0%
layer using a variety of techniques that
theorem<00:15:29.810><c> 2.0</c><00:15:30.260><c> is</c><00:15:30.410><c> currently</c><00:15:30.709><c> the</c><00:15:30.800><c> only</c>

00:15:30.910 --> 00:15:30.920 align:start position:0%
theorem 2.0 is currently the only
 

00:15:30.920 --> 00:15:33.490 align:start position:0%
theorem 2.0 is currently the only
candidate<00:15:31.579><c> to</c><00:15:32.060><c> be</c><00:15:32.180><c> that</c><00:15:32.360><c> base</c><00:15:32.600><c> trust</c><00:15:32.959><c> layer</c><00:15:33.200><c> as</c>

00:15:33.490 --> 00:15:33.500 align:start position:0%
candidate to be that base trust layer as
 

00:15:33.500 --> 00:15:35.949 align:start position:0%
candidate to be that base trust layer as
it<00:15:34.190><c> is</c><00:15:34.490><c> the</c><00:15:34.610><c> only</c><00:15:34.640><c> blockchain</c><00:15:35.360><c> project</c><00:15:35.810><c> that</c>

00:15:35.949 --> 00:15:35.959 align:start position:0%
it is the only blockchain project that
 

00:15:35.959 --> 00:15:38.220 align:start position:0%
it is the only blockchain project that
is<00:15:36.079><c> assiduously</c><00:15:36.709><c> focused</c><00:15:37.459><c> on</c><00:15:37.610><c> maximizing</c>

00:15:38.220 --> 00:15:38.230 align:start position:0%
is assiduously focused on maximizing
 

00:15:38.230 --> 00:15:40.389 align:start position:0%
is assiduously focused on maximizing
decentralization<00:15:39.230><c> in</c><00:15:39.709><c> all</c><00:15:40.190><c> of</c><00:15:40.250><c> its</c>

00:15:40.389 --> 00:15:40.399 align:start position:0%
decentralization in all of its
 

00:15:40.399 --> 00:15:43.240 align:start position:0%
decentralization in all of its
dimensions<00:15:41.200><c> this</c><00:15:42.200><c> Internet</c><00:15:42.620><c> of</c><00:15:42.740><c> blockchains</c>

00:15:43.240 --> 00:15:43.250 align:start position:0%
dimensions this Internet of blockchains
 

00:15:43.250 --> 00:15:45.190 align:start position:0%
dimensions this Internet of blockchains
architecture<00:15:43.970><c> rhymes</c><00:15:44.269><c> nicely</c><00:15:44.870><c> with</c><00:15:45.050><c> the</c>

00:15:45.190 --> 00:15:45.200 align:start position:0%
architecture rhymes nicely with the
 

00:15:45.200 --> 00:15:47.560 align:start position:0%
architecture rhymes nicely with the
internet<00:15:45.740><c> with</c><00:15:46.579><c> the</c><00:15:46.700><c> fact</c><00:15:46.880><c> that</c><00:15:47.029><c> the</c><00:15:47.149><c> Internet</c>

00:15:47.560 --> 00:15:47.570 align:start position:0%
internet with the fact that the Internet
 

00:15:47.570 --> 00:15:50.440 align:start position:0%
internet with the fact that the Internet
is<00:15:47.720><c> an</c><00:15:47.990><c> internet</c><00:15:48.410><c> of</c><00:15:48.589><c> networks</c><00:15:49.130><c> and</c><00:15:49.450><c> finally</c>

00:15:50.440 --> 00:15:50.450 align:start position:0%
is an internet of networks and finally
 

00:15:50.450 --> 00:15:53.230 align:start position:0%
is an internet of networks and finally
our<00:15:51.440><c> planet</c><00:15:51.890><c> will</c><00:15:52.190><c> have</c><00:15:52.760><c> an</c><00:15:52.880><c> automated</c>

00:15:53.230 --> 00:15:53.240 align:start position:0%
our planet will have an automated
 

00:15:53.240 --> 00:15:55.389 align:start position:0%
our planet will have an automated
objective<00:15:54.019><c> trust</c><00:15:54.290><c> foundation</c><00:15:54.890><c> to</c><00:15:55.100><c> replace</c>

00:15:55.389 --> 00:15:55.399 align:start position:0%
objective trust foundation to replace
 

00:15:55.399 --> 00:15:57.130 align:start position:0%
objective trust foundation to replace
the<00:15:55.579><c> subjective</c><00:15:56.120><c> trust</c><00:15:56.420><c> infrastructure</c>

00:15:57.130 --> 00:15:57.140 align:start position:0%
the subjective trust infrastructure
 

00:15:57.140 --> 00:16:00.030 align:start position:0%
the subjective trust infrastructure
we've<00:15:57.800><c> built</c><00:15:58.160><c> on</c><00:15:58.370><c> for</c><00:15:58.880><c> millennia</c><00:15:59.300><c> to</c>

00:16:00.030 --> 00:16:00.040 align:start position:0%
we've built on for millennia to
 

00:16:00.040 --> 00:16:02.110 align:start position:0%
we've built on for millennia to
continually<00:16:01.040><c> address</c><00:16:01.399><c> scalability</c><00:16:02.089><c> concerns</c>

00:16:02.110 --> 00:16:02.120 align:start position:0%
continually address scalability concerns
 

00:16:02.120 --> 00:16:04.440 align:start position:0%
continually address scalability concerns
we<00:16:03.019><c> must</c><00:16:03.230><c> practice</c><00:16:03.500><c> minimum</c><00:16:04.220><c> viable</c>

00:16:04.440 --> 00:16:04.450 align:start position:0%
we must practice minimum viable
 

00:16:04.450 --> 00:16:07.060 align:start position:0%
we must practice minimum viable
decentralization<00:16:05.450><c> as</c><00:16:05.839><c> we</c><00:16:06.470><c> stand</c><00:16:06.740><c> up</c><00:16:06.860><c> new</c>

00:16:07.060 --> 00:16:07.070 align:start position:0%
decentralization as we stand up new
 

00:16:07.070 --> 00:16:09.400 align:start position:0%
decentralization as we stand up new
permission<00:16:07.610><c> to</c><00:16:07.760><c> tear</c><00:16:07.970><c> networks</c><00:16:08.450><c> going</c>

00:16:09.400 --> 00:16:09.410 align:start position:0%
permission to tear networks going
 

00:16:09.410 --> 00:16:11.470 align:start position:0%
permission to tear networks going
forward<00:16:09.950><c> we</c><00:16:10.100><c> will</c><00:16:10.250><c> always</c><00:16:10.430><c> have</c><00:16:10.670><c> scalability</c>

00:16:11.470 --> 00:16:11.480 align:start position:0%
forward we will always have scalability
 

00:16:11.480 --> 00:16:13.750 align:start position:0%
forward we will always have scalability
concerns<00:16:11.959><c> and</c><00:16:12.290><c> there</c><00:16:12.769><c> is</c><00:16:12.860><c> no</c><00:16:13.040><c> need</c><00:16:13.220><c> to</c><00:16:13.399><c> over</c>

00:16:13.750 --> 00:16:13.760 align:start position:0%
concerns and there is no need to over
 

00:16:13.760 --> 00:16:16.509 align:start position:0%
concerns and there is no need to over
secure<00:16:14.180><c> every</c><00:16:14.540><c> use</c><00:16:14.750><c> case</c><00:16:15.040><c> we</c><00:16:16.040><c> will</c><00:16:16.160><c> get</c><00:16:16.339><c> used</c>

00:16:16.509 --> 00:16:16.519 align:start position:0%
secure every use case we will get used
 

00:16:16.519 --> 00:16:18.250 align:start position:0%
secure every use case we will get used
to<00:16:16.640><c> designing</c><00:16:17.060><c> systems</c><00:16:17.570><c> with</c><00:16:17.720><c> appropriate</c>

00:16:18.250 --> 00:16:18.260 align:start position:0%
to designing systems with appropriate
 

00:16:18.260 --> 00:16:21.340 align:start position:0%
to designing systems with appropriate
levels<00:16:18.560><c> of</c><00:16:18.740><c> decentralization</c><00:16:20.199><c> we</c><00:16:21.199><c> should</c>

00:16:21.340 --> 00:16:21.350 align:start position:0%
levels of decentralization we should
 

00:16:21.350 --> 00:16:22.900 align:start position:0%
levels of decentralization we should
start<00:16:21.560><c> to</c><00:16:21.680><c> think</c><00:16:21.829><c> of</c><00:16:21.980><c> layer</c><00:16:22.160><c> 2</c><00:16:22.399><c> blockchain</c>

00:16:22.900 --> 00:16:22.910 align:start position:0%
start to think of layer 2 blockchain
 

00:16:22.910 --> 00:16:25.930 align:start position:0%
start to think of layer 2 blockchain
networks<00:16:23.300><c> as</c><00:16:23.540><c> logical</c><00:16:24.529><c> constructs</c><00:16:25.070><c> because</c>

00:16:25.930 --> 00:16:25.940 align:start position:0%
networks as logical constructs because
 

00:16:25.940 --> 00:16:27.579 align:start position:0%
networks as logical constructs because
in<00:16:26.089><c> time</c><00:16:26.269><c> we</c><00:16:26.420><c> will</c><00:16:26.510><c> want</c><00:16:26.690><c> to</c><00:16:26.810><c> lift</c><00:16:27.019><c> these</c><00:16:27.260><c> and</c>

00:16:27.579 --> 00:16:27.589 align:start position:0%
in time we will want to lift these and
 

00:16:27.589 --> 00:16:29.740 align:start position:0%
in time we will want to lift these and
set<00:16:28.010><c> them</c><00:16:28.190><c> back</c><00:16:28.310><c> down</c><00:16:28.550><c> on</c><00:16:28.820><c> more</c><00:16:29.209><c> capable</c>

00:16:29.740 --> 00:16:29.750 align:start position:0%
set them back down on more capable
 

00:16:29.750 --> 00:16:32.380 align:start position:0%
set them back down on more capable
physical<00:16:30.260><c> architectures</c><00:16:30.949><c> we</c><00:16:31.850><c> need</c><00:16:32.029><c> to</c><00:16:32.180><c> start</c>

00:16:32.380 --> 00:16:32.390 align:start position:0%
physical architectures we need to start
 

00:16:32.390 --> 00:16:34.840 align:start position:0%
physical architectures we need to start
designing<00:16:32.570><c> for</c><00:16:33.140><c> such</c><00:16:33.290><c> upgrades</c><00:16:33.850><c> eventually</c>

00:16:34.840 --> 00:16:34.850 align:start position:0%
designing for such upgrades eventually
 

00:16:34.850 --> 00:16:36.189 align:start position:0%
designing for such upgrades eventually
most<00:16:35.029><c> of</c><00:16:35.149><c> the</c><00:16:35.209><c> world's</c><00:16:35.480><c> private</c><00:16:35.839><c> permission</c>

00:16:36.189 --> 00:16:36.199 align:start position:0%
most of the world's private permission
 

00:16:36.199 --> 00:16:38.769 align:start position:0%
most of the world's private permission
systems<00:16:36.620><c> will</c><00:16:37.190><c> run</c><00:16:37.399><c> on</c><00:16:37.550><c> public</c><00:16:38.000><c> permission</c><00:16:38.510><c> in</c>

00:16:38.769 --> 00:16:38.779 align:start position:0%
systems will run on public permission in
 

00:16:38.779 --> 00:16:41.380 align:start position:0%
systems will run on public permission in
permissionless<00:16:39.680><c> infrastructure</c><00:16:40.640><c> just</c><00:16:41.209><c> as</c>

00:16:41.380 --> 00:16:41.390 align:start position:0%
permissionless infrastructure just as
 

00:16:41.390 --> 00:16:42.610 align:start position:0%
permissionless infrastructure just as
corporate<00:16:41.810><c> in</c><00:16:41.930><c> government</c><00:16:42.440><c> IT</c>

00:16:42.610 --> 00:16:42.620 align:start position:0%
corporate in government IT
 

00:16:42.620 --> 00:16:45.069 align:start position:0%
corporate in government IT
infrastructures<00:16:43.459><c> today</c><00:16:43.790><c> we</c><00:16:44.390><c> run</c><00:16:44.510><c> largely</c><00:16:44.810><c> on</c>

00:16:45.069 --> 00:16:45.079 align:start position:0%
infrastructures today we run largely on
 

00:16:45.079 --> 00:16:47.380 align:start position:0%
infrastructures today we run largely on
cloud<00:16:45.459><c> just</c><00:16:46.459><c> because</c><00:16:46.760><c> it</c><00:16:46.880><c> will</c><00:16:47.029><c> be</c><00:16:47.149><c> the</c><00:16:47.269><c> best</c>

00:16:47.380 --> 00:16:47.390 align:start position:0%
cloud just because it will be the best
 

00:16:47.390 --> 00:16:49.829 align:start position:0%
cloud just because it will be the best
substrate<00:16:47.930><c> on</c><00:16:48.110><c> which</c><00:16:48.140><c> to</c><00:16:48.529><c> run</c><00:16:48.680><c> these</c><00:16:48.920><c> systems</c>

00:16:49.829 --> 00:16:49.839 align:start position:0%
substrate on which to run these systems
 

00:16:49.839 --> 00:16:52.990 align:start position:0%
substrate on which to run these systems
it<00:16:50.839><c> is</c><00:16:50.930><c> critical</c><00:16:51.320><c> that</c><00:16:51.350><c> this</c><00:16:51.680><c> base</c><00:16:51.949><c> layer</c><00:16:52.550><c> be</c>

00:16:52.990 --> 00:16:53.000 align:start position:0%
it is critical that this base layer be
 

00:16:53.000 --> 00:16:54.490 align:start position:0%
it is critical that this base layer be
permissionless<00:16:53.540><c> and</c><00:16:53.930><c> maximum</c><00:16:54.380><c> lead</c>

00:16:54.490 --> 00:16:54.500 align:start position:0%
permissionless and maximum lead
 

00:16:54.500 --> 00:16:56.889 align:start position:0%
permissionless and maximum lead
essential<00:16:54.920><c> about</c><00:16:55.149><c> decentralized</c><00:16:56.149><c> because</c>

00:16:56.889 --> 00:16:56.899 align:start position:0%
essential about decentralized because
 

00:16:56.899 --> 00:16:59.639 align:start position:0%
essential about decentralized because
that<00:16:57.110><c> is</c><00:16:57.350><c> where</c><00:16:57.680><c> we</c><00:16:57.860><c> derive</c><00:16:58.519><c> trust</c><00:16:59.120><c> and</c><00:16:59.480><c> that</c>

00:16:59.639 --> 00:16:59.649 align:start position:0%
that is where we derive trust and that
 

00:16:59.649 --> 00:17:02.530 align:start position:0%
that is where we derive trust and that
trust<00:17:00.649><c> layer</c><00:17:00.829><c> must</c><00:17:01.100><c> be</c><00:17:01.220><c> global</c><00:17:01.670><c> so</c><00:17:02.269><c> that</c><00:17:02.420><c> it</c>

00:17:02.530 --> 00:17:02.540 align:start position:0%
trust layer must be global so that it
 

00:17:02.540 --> 00:17:04.059 align:start position:0%
trust layer must be global so that it
can<00:17:02.720><c> build</c><00:17:02.990><c> so</c><00:17:03.529><c> that</c><00:17:03.649><c> we</c><00:17:03.769><c> can</c><00:17:03.949><c> build</c>

00:17:04.059 --> 00:17:04.069 align:start position:0%
can build so that we can build
 

00:17:04.069 --> 00:17:05.650 align:start position:0%
can build so that we can build
international<00:17:04.549><c> financial</c><00:17:05.150><c> and</c><00:17:05.449><c> trade</c>

00:17:05.650 --> 00:17:05.660 align:start position:0%
international financial and trade
 

00:17:05.660 --> 00:17:07.270 align:start position:0%
international financial and trade
systems<00:17:06.140><c> that</c><00:17:06.679><c> all</c><00:17:06.829><c> countries</c><00:17:07.250><c> can</c>

00:17:07.270 --> 00:17:07.280 align:start position:0%
systems that all countries can
 

00:17:07.280 --> 00:17:10.809 align:start position:0%
systems that all countries can
collaborate<00:17:07.910><c> on</c><00:17:09.069><c> what</c><00:17:10.069><c> makes</c><00:17:10.250><c> a</c><00:17:10.400><c> theorem</c><00:17:10.699><c> the</c>

00:17:10.809 --> 00:17:10.819 align:start position:0%
collaborate on what makes a theorem the
 

00:17:10.819 --> 00:17:14.319 align:start position:0%
collaborate on what makes a theorem the
current<00:17:11.120><c> best</c><00:17:11.630><c> or</c><00:17:11.959><c> only</c><00:17:12.040><c> option</c><00:17:13.040><c> to</c><00:17:14.000><c> be</c><00:17:14.089><c> a</c><00:17:14.120><c> base</c>

00:17:14.319 --> 00:17:14.329 align:start position:0%
current best or only option to be a base
 

00:17:14.329 --> 00:17:15.559 align:start position:0%
current best or only option to be a base
trust<00:17:14.689><c> layer</c><00:17:14.900><c> for</c><00:17:15.140><c> the</c><00:17:15.199><c> plan</c>

00:17:15.559 --> 00:17:15.569 align:start position:0%
trust layer for the plan
 

00:17:15.569 --> 00:17:18.619 align:start position:0%
trust layer for the plan
on<00:17:15.779><c> a</c><00:17:16.129><c> recent</c><00:17:17.129><c> into</c><00:17:17.609><c> the</c><00:17:17.729><c> ether</c><00:17:18.089><c> podcast</c>

00:17:18.619 --> 00:17:18.629 align:start position:0%
on a recent into the ether podcast
 

00:17:18.629 --> 00:17:21.679 align:start position:0%
on a recent into the ether podcast
Matteo<00:17:19.559><c> Leibowitz</c><00:17:20.159><c> who</c><00:17:20.909><c> might</c><00:17:21.119><c> be</c><00:17:21.269><c> out</c><00:17:21.449><c> there</c>

00:17:21.679 --> 00:17:21.689 align:start position:0%
Matteo Leibowitz who might be out there
 

00:17:21.689 --> 00:17:24.259 align:start position:0%
Matteo Leibowitz who might be out there
right<00:17:21.899><c> now</c><00:17:22.309><c> indicated</c><00:17:23.309><c> that</c><00:17:23.459><c> he</c><00:17:23.639><c> felt</c><00:17:23.909><c> that</c>

00:17:24.259 --> 00:17:24.269 align:start position:0%
right now indicated that he felt that
 

00:17:24.269 --> 00:17:26.929 align:start position:0%
right now indicated that he felt that
Bitcoin<00:17:24.720><c> had</c><00:17:25.319><c> a</c><00:17:25.350><c> defined</c><00:17:25.919><c> distribution</c><00:17:26.759><c> and</c>

00:17:26.929 --> 00:17:26.939 align:start position:0%
Bitcoin had a defined distribution and
 

00:17:26.939 --> 00:17:29.539 align:start position:0%
Bitcoin had a defined distribution and
that<00:17:27.299><c> aetherium</c><00:17:27.839><c> had</c><00:17:28.319><c> a</c><00:17:28.350><c> divine</c><00:17:28.769><c> token</c><00:17:29.340><c> launch</c>

00:17:29.539 --> 00:17:29.549 align:start position:0%
that aetherium had a divine token launch
 

00:17:29.549 --> 00:17:31.969 align:start position:0%
that aetherium had a divine token launch
for<00:17:29.940><c> ether</c><00:17:30.299><c> he</c><00:17:30.929><c> outlined</c><00:17:31.289><c> what</c><00:17:31.470><c> he</c><00:17:31.559><c> called</c><00:17:31.799><c> the</c>

00:17:31.969 --> 00:17:31.979 align:start position:0%
for ether he outlined what he called the
 

00:17:31.979 --> 00:17:34.489 align:start position:0%
for ether he outlined what he called the
distribution<00:17:32.369><c> Quadra</c><00:17:33.179><c> lemma</c><00:17:33.359><c> his</c><00:17:34.049><c> argument</c>

00:17:34.489 --> 00:17:34.499 align:start position:0%
distribution Quadra lemma his argument
 

00:17:34.499 --> 00:17:36.909 align:start position:0%
distribution Quadra lemma his argument
was<00:17:34.590><c> that</c><00:17:34.649><c> regulators</c><00:17:35.369><c> have</c><00:17:35.729><c> woken</c><00:17:36.090><c> up</c><00:17:36.269><c> and</c>

00:17:36.909 --> 00:17:36.919 align:start position:0%
was that regulators have woken up and
 

00:17:36.919 --> 00:17:40.609 align:start position:0%
was that regulators have woken up and
any<00:17:37.970><c> post-2015</c><00:17:38.970><c> protocol</c><00:17:39.779><c> that</c><00:17:40.169><c> wishes</c><00:17:40.499><c> to</c>

00:17:40.609 --> 00:17:40.619 align:start position:0%
any post-2015 protocol that wishes to
 

00:17:40.619 --> 00:17:43.039 align:start position:0%
any post-2015 protocol that wishes to
achieve<00:17:40.739><c> widespread</c><00:17:41.549><c> adoption</c><00:17:41.749><c> has</c><00:17:42.749><c> to</c>

00:17:43.039 --> 00:17:43.049 align:start position:0%
achieve widespread adoption has to
 

00:17:43.049 --> 00:17:44.810 align:start position:0%
achieve widespread adoption has to
succeed<00:17:43.529><c> with</c><00:17:43.830><c> respect</c><00:17:44.220><c> to</c><00:17:44.279><c> the</c><00:17:44.399><c> following</c>

00:17:44.810 --> 00:17:44.820 align:start position:0%
succeed with respect to the following
 

00:17:44.820 --> 00:17:48.109 align:start position:0%
succeed with respect to the following
four<00:17:45.119><c> pillars</c><00:17:46.129><c> we're</c><00:17:47.129><c> talking</c><00:17:47.460><c> about</c><00:17:47.549><c> layer</c><00:17:47.849><c> 1</c>

00:17:48.109 --> 00:17:48.119 align:start position:0%
four pillars we're talking about layer 1
 

00:17:48.119 --> 00:17:50.839 align:start position:0%
four pillars we're talking about layer 1
protocols<00:17:48.690><c> here</c><00:17:49.190><c> the</c><00:17:50.190><c> first</c><00:17:50.429><c> pillar</c><00:17:50.639><c> is</c><00:17:50.729><c> the</c>

00:17:50.839 --> 00:17:50.849 align:start position:0%
protocols here the first pillar is the
 

00:17:50.849 --> 00:17:52.789 align:start position:0%
protocols here the first pillar is the
token<00:17:51.239><c> must</c><00:17:51.570><c> be</c><00:17:51.720><c> issued</c><00:17:51.899><c> broadly</c><00:17:52.619><c> and</c>

00:17:52.789 --> 00:17:52.799 align:start position:0%
token must be issued broadly and
 

00:17:52.799 --> 00:17:56.589 align:start position:0%
token must be issued broadly and
equitably<00:17:53.929><c> number</c><00:17:54.929><c> 2</c><00:17:55.109><c> the</c><00:17:55.559><c> community</c><00:17:56.099><c> must</c>

00:17:56.589 --> 00:17:56.599 align:start position:0%
equitably number 2 the community must
 

00:17:56.599 --> 00:17:59.599 align:start position:0%
equitably number 2 the community must
remain<00:17:57.599><c> engaged</c><00:17:58.049><c> vibrant</c><00:17:58.859><c> and</c><00:17:59.039><c> grow</c><00:17:59.309><c> large</c>

00:17:59.599 --> 00:17:59.609 align:start position:0%
remain engaged vibrant and grow large
 

00:17:59.609 --> 00:18:01.999 align:start position:0%
remain engaged vibrant and grow large
over<00:18:00.029><c> time</c><00:18:00.269><c> one</c><00:18:01.049><c> way</c><00:18:01.169><c> to</c><00:18:01.229><c> achieve</c><00:18:01.409><c> this</c><00:18:01.739><c> by</c><00:18:01.950><c> it</c>

00:18:01.999 --> 00:18:02.009 align:start position:0%
over time one way to achieve this by it
 

00:18:02.009 --> 00:18:04.279 align:start position:0%
over time one way to achieve this by it
is<00:18:02.279><c> by</c><00:18:02.460><c> enabling</c><00:18:02.879><c> the</c><00:18:02.970><c> tokens</c><00:18:03.330><c> held</c><00:18:04.049><c> by</c><00:18:04.229><c> the</c>

00:18:04.279 --> 00:18:04.289 align:start position:0%
is by enabling the tokens held by the
 

00:18:04.289 --> 00:18:07.369 align:start position:0%
is by enabling the tokens held by the
community<00:18:04.919><c> to</c><00:18:05.159><c> appreciate</c><00:18:05.580><c> in</c><00:18:05.729><c> value</c><00:18:06.379><c> number</c>

00:18:07.369 --> 00:18:07.379 align:start position:0%
community to appreciate in value number
 

00:18:07.379 --> 00:18:09.409 align:start position:0%
community to appreciate in value number
3<00:18:07.679><c> the</c><00:18:08.039><c> project</c><00:18:08.429><c> must</c><00:18:08.639><c> bring</c><00:18:08.820><c> in</c><00:18:08.940><c> sufficient</c>

00:18:09.409 --> 00:18:09.419 align:start position:0%
3 the project must bring in sufficient
 

00:18:09.419 --> 00:18:11.269 align:start position:0%
3 the project must bring in sufficient
capital<00:18:09.599><c> so</c><00:18:10.349><c> that</c><00:18:10.499><c> it</c><00:18:10.619><c> can</c><00:18:10.830><c> be</c><00:18:10.950><c> delivered</c>

00:18:11.269 --> 00:18:11.279 align:start position:0%
capital so that it can be delivered
 

00:18:11.279 --> 00:18:13.960 align:start position:0%
capital so that it can be delivered
maintained<00:18:12.029><c> and</c><00:18:12.299><c> continuously</c><00:18:13.049><c> improved</c><00:18:13.559><c> and</c>

00:18:13.960 --> 00:18:13.970 align:start position:0%
maintained and continuously improved and
 

00:18:13.970 --> 00:18:16.789 align:start position:0%
maintained and continuously improved and
finally<00:18:14.970><c> and</c><00:18:15.119><c> this</c><00:18:15.239><c> is</c><00:18:15.299><c> the</c><00:18:15.599><c> new</c><00:18:15.779><c> wrinkle</c><00:18:16.200><c> the</c>

00:18:16.789 --> 00:18:16.799 align:start position:0%
finally and this is the new wrinkle the
 

00:18:16.799 --> 00:18:19.269 align:start position:0%
finally and this is the new wrinkle the
project<00:18:17.249><c> must</c><00:18:17.429><c> be</c><00:18:17.489><c> regulatorily</c><00:18:18.210><c> compliant</c>

00:18:19.269 --> 00:18:19.279 align:start position:0%
project must be regulatorily compliant
 

00:18:19.279 --> 00:18:21.889 align:start position:0%
project must be regulatorily compliant
among<00:18:20.279><c> all</c><00:18:20.399><c> the</c><00:18:20.549><c> competitors</c><00:18:21.059><c> the</c><00:18:21.509><c> etherium</c>

00:18:21.889 --> 00:18:21.899 align:start position:0%
among all the competitors the etherium
 

00:18:21.899 --> 00:18:23.960 align:start position:0%
among all the competitors the etherium
killers<00:18:22.259><c> to</c><00:18:22.679><c> have</c><00:18:22.799><c> emerged</c><00:18:23.159><c> in</c><00:18:23.369><c> the</c><00:18:23.519><c> past</c><00:18:23.549><c> few</c>

00:18:23.960 --> 00:18:23.970 align:start position:0%
killers to have emerged in the past few
 

00:18:23.970 --> 00:18:26.299 align:start position:0%
killers to have emerged in the past few
years<00:18:24.049><c> after</c><00:18:25.049><c> Bitcoin</c><00:18:25.440><c> end</c><00:18:25.649><c> of</c><00:18:25.769><c> theorem</c><00:18:26.070><c> were</c>

00:18:26.299 --> 00:18:26.309 align:start position:0%
years after Bitcoin end of theorem were
 

00:18:26.309 --> 00:18:29.239 align:start position:0%
years after Bitcoin end of theorem were
launched<00:18:26.729><c> none</c><00:18:27.509><c> show</c><00:18:27.840><c> convincing</c><00:18:28.830><c> signs</c><00:18:29.070><c> of</c>

00:18:29.239 --> 00:18:29.249 align:start position:0%
launched none show convincing signs of
 

00:18:29.249 --> 00:18:30.830 align:start position:0%
launched none show convincing signs of
meeting<00:18:29.489><c> all</c><00:18:29.639><c> four</c><00:18:29.909><c> requirements</c><00:18:30.599><c> of</c><00:18:30.749><c> the</c>

00:18:30.830 --> 00:18:30.840 align:start position:0%
meeting all four requirements of the
 

00:18:30.840 --> 00:18:33.739 align:start position:0%
meeting all four requirements of the
Quadra<00:18:31.169><c> lemma</c><00:18:31.879><c> the</c><00:18:32.879><c> best</c><00:18:33.059><c> way</c><00:18:33.179><c> to</c><00:18:33.210><c> build</c><00:18:33.450><c> and</c>

00:18:33.739 --> 00:18:33.749 align:start position:0%
Quadra lemma the best way to build and
 

00:18:33.749 --> 00:18:36.259 align:start position:0%
Quadra lemma the best way to build and
grow<00:18:33.899><c> a</c><00:18:33.989><c> strong</c><00:18:34.409><c> community</c><00:18:35.039><c> is</c><00:18:35.519><c> to</c><00:18:35.849><c> seldom</c><00:18:36.210><c> a</c>

00:18:36.259 --> 00:18:36.269 align:start position:0%
grow a strong community is to seldom a
 

00:18:36.269 --> 00:18:37.700 align:start position:0%
grow a strong community is to seldom a
token<00:18:36.629><c> and</c><00:18:36.840><c> promise</c><00:18:37.259><c> that</c><00:18:37.289><c> it</c><00:18:37.559><c> will</c>

00:18:37.700 --> 00:18:37.710 align:start position:0%
token and promise that it will
 

00:18:37.710 --> 00:18:40.659 align:start position:0%
token and promise that it will
appreciate<00:18:38.039><c> and</c><00:18:38.639><c> then</c><00:18:39.299><c> work</c><00:18:39.570><c> to</c><00:18:39.869><c> make</c><00:18:39.989><c> it</c><00:18:40.139><c> so</c>

00:18:40.659 --> 00:18:40.669 align:start position:0%
appreciate and then work to make it so
 

00:18:40.669 --> 00:18:43.330 align:start position:0%
appreciate and then work to make it so
this<00:18:41.669><c> is</c><00:18:41.879><c> the</c><00:18:42.029><c> definition</c><00:18:42.479><c> of</c><00:18:42.690><c> a</c><00:18:42.779><c> security</c>

00:18:43.330 --> 00:18:43.340 align:start position:0%
this is the definition of a security
 

00:18:43.340 --> 00:18:45.609 align:start position:0%
this is the definition of a security
since<00:18:44.340><c> you</c><00:18:44.460><c> are</c><00:18:44.519><c> now</c><00:18:44.669><c> selling</c><00:18:45.059><c> a</c><00:18:45.149><c> security</c>

00:18:45.609 --> 00:18:45.619 align:start position:0%
since you are now selling a security
 

00:18:45.619 --> 00:18:48.409 align:start position:0%
since you are now selling a security
your<00:18:46.619><c> token</c><00:18:47.129><c> won't</c><00:18:47.340><c> be</c><00:18:47.489><c> issued</c><00:18:47.849><c> broadly</c><00:18:48.330><c> and</c>

00:18:48.409 --> 00:18:48.419 align:start position:0%
your token won't be issued broadly and
 

00:18:48.419 --> 00:18:51.039 align:start position:0%
your token won't be issued broadly and
widely<00:18:48.629><c> in</c><00:18:49.109><c> your</c><00:18:49.649><c> community</c><00:18:50.190><c> won't</c><00:18:50.340><c> be</c><00:18:50.580><c> robust</c>

00:18:51.039 --> 00:18:51.049 align:start position:0%
widely in your community won't be robust
 

00:18:51.049 --> 00:18:54.200 align:start position:0%
widely in your community won't be robust
there<00:18:52.049><c> may</c><00:18:52.559><c> be</c><00:18:52.590><c> novel</c><00:18:53.070><c> mechanisms</c><00:18:53.669><c> tried</c><00:18:53.970><c> over</c>

00:18:54.200 --> 00:18:54.210 align:start position:0%
there may be novel mechanisms tried over
 

00:18:54.210 --> 00:18:56.119 align:start position:0%
there may be novel mechanisms tried over
time<00:18:54.450><c> but</c><00:18:54.690><c> so</c><00:18:54.869><c> far</c><00:18:55.080><c> no</c><00:18:55.289><c> projects</c><00:18:55.739><c> have</c><00:18:55.859><c> gained</c>

00:18:56.119 --> 00:18:56.129 align:start position:0%
time but so far no projects have gained
 

00:18:56.129 --> 00:18:58.460 align:start position:0%
time but so far no projects have gained
great<00:18:56.489><c> traction</c><00:18:56.820><c> and</c><00:18:57.299><c> it</c><00:18:57.960><c> is</c><00:18:58.080><c> hard</c><00:18:58.289><c> to</c><00:18:58.409><c> imagine</c>

00:18:58.460 --> 00:18:58.470 align:start position:0%
great traction and it is hard to imagine
 

00:18:58.470 --> 00:19:00.649 align:start position:0%
great traction and it is hard to imagine
building<00:18:58.950><c> the</c><00:18:59.249><c> world's</c><00:18:59.580><c> trust</c><00:18:59.909><c> Foundation</c>

00:19:00.649 --> 00:19:00.659 align:start position:0%
building the world's trust Foundation
 

00:19:00.659 --> 00:19:03.560 align:start position:0%
building the world's trust Foundation
and<00:19:00.869><c> global</c><00:19:01.619><c> settlement</c><00:19:01.919><c> layer</c><00:19:02.220><c> on</c><00:19:02.489><c> a</c><00:19:02.519><c> VC</c><00:19:03.330><c> coin</c>

00:19:03.560 --> 00:19:03.570 align:start position:0%
and global settlement layer on a VC coin
 

00:19:03.570 --> 00:19:07.399 align:start position:0%
and global settlement layer on a VC coin
project<00:19:04.700><c> the</c><00:19:05.700><c> sec</c><00:19:06.119><c> recently</c><00:19:06.539><c> gave</c><00:19:06.749><c> the</c><00:19:07.019><c> eos</c>

00:19:07.399 --> 00:19:07.409 align:start position:0%
project the sec recently gave the eos
 

00:19:07.409 --> 00:19:09.469 align:start position:0%
project the sec recently gave the eos
project<00:19:07.919><c> a</c><00:19:08.070><c> slap</c><00:19:08.369><c> on</c><00:19:08.580><c> the</c><00:19:08.609><c> wrist</c><00:19:08.879><c> for</c><00:19:09.330><c> their</c>

00:19:09.469 --> 00:19:09.479 align:start position:0%
project a slap on the wrist for their
 

00:19:09.479 --> 00:19:11.810 align:start position:0%
project a slap on the wrist for their
token<00:19:09.840><c> sale</c><00:19:10.049><c> but</c><00:19:10.799><c> this</c><00:19:10.979><c> does</c><00:19:11.190><c> not</c><00:19:11.220><c> mean</c><00:19:11.580><c> a</c>

00:19:11.810 --> 00:19:11.820 align:start position:0%
token sale but this does not mean a
 

00:19:11.820 --> 00:19:13.820 align:start position:0%
token sale but this does not mean a
project<00:19:12.330><c> structured</c><00:19:12.720><c> like</c><00:19:12.899><c> eos</c><00:19:13.259><c> could</c><00:19:13.619><c> have</c><00:19:13.799><c> a</c>

00:19:13.820 --> 00:19:13.830 align:start position:0%
project structured like eos could have a
 

00:19:13.830 --> 00:19:16.999 align:start position:0%
project structured like eos could have a
successful<00:19:14.340><c> raise</c><00:19:14.700><c> at</c><00:19:14.999><c> this</c><00:19:15.179><c> point</c><00:19:15.539><c> yes</c><00:19:16.529><c> EC</c><00:19:16.859><c> is</c>

00:19:16.999 --> 00:19:17.009 align:start position:0%
successful raise at this point yes EC is
 

00:19:17.009 --> 00:19:19.759 align:start position:0%
successful raise at this point yes EC is
tooled<00:19:17.309><c> up</c><00:19:17.489><c> now</c><00:19:17.729><c> and</c><00:19:17.999><c> very</c><00:19:18.450><c> aware</c><00:19:18.779><c> today</c><00:19:19.470><c> it</c>

00:19:19.759 --> 00:19:19.769 align:start position:0%
tooled up now and very aware today it
 

00:19:19.769 --> 00:19:22.159 align:start position:0%
tooled up now and very aware today it
would<00:19:19.919><c> shut</c><00:19:20.220><c> down</c><00:19:20.249><c> a</c><00:19:20.879><c> sale</c><00:19:21.419><c> structured</c><00:19:21.989><c> like</c>

00:19:22.159 --> 00:19:22.169 align:start position:0%
would shut down a sale structured like
 

00:19:22.169 --> 00:19:24.560 align:start position:0%
would shut down a sale structured like
the<00:19:22.349><c> EO</c><00:19:22.529><c> sale</c><00:19:23.009><c> before</c><00:19:23.639><c> it</c><00:19:23.879><c> was</c><00:19:23.999><c> able</c><00:19:24.179><c> to</c><00:19:24.299><c> turn</c>

00:19:24.560 --> 00:19:24.570 align:start position:0%
the EO sale before it was able to turn
 

00:19:24.570 --> 00:19:25.250 align:start position:0%
the EO sale before it was able to turn
on<00:19:24.690><c> its</c><00:19:24.899><c> first</c>

00:19:25.250 --> 00:19:25.260 align:start position:0%
on its first
 

00:19:25.260 --> 00:19:32.470 align:start position:0%
on its first
billboards<00:19:25.680><c> in</c><00:19:25.860><c> Times</c><00:19:25.920><c> Square</c><00:19:29.510><c> since</c><00:19:31.370><c> sorry</c>

00:19:32.470 --> 00:19:32.480 align:start position:0%
billboards in Times Square since sorry
 

00:19:32.480 --> 00:19:36.830 align:start position:0%
billboards in Times Square since sorry
yes<00:19:34.070><c> so</c><00:19:35.070><c> instead</c><00:19:35.340><c> of</c><00:19:35.400><c> the</c><00:19:35.820><c> vertical</c><00:19:36.000><c> walled</c>

00:19:36.830 --> 00:19:36.840 align:start position:0%
yes so instead of the vertical walled
 

00:19:36.840 --> 00:19:39.950 align:start position:0%
yes so instead of the vertical walled
gardens<00:19:37.440><c> of</c><00:19:37.680><c> web</c><00:19:38.130><c> 2.0</c><00:19:38.670><c> we</c><00:19:39.630><c> will</c><00:19:39.780><c> have</c>

00:19:39.950 --> 00:19:39.960 align:start position:0%
gardens of web 2.0 we will have
 

00:19:39.960 --> 00:19:42.140 align:start position:0%
gardens of web 2.0 we will have
horizontal<00:19:40.460><c> decentralized</c><00:19:41.460><c> collaboration</c>

00:19:42.140 --> 00:19:42.150 align:start position:0%
horizontal decentralized collaboration
 

00:19:42.150 --> 00:19:44.320 align:start position:0%
horizontal decentralized collaboration
layers<00:19:42.360><c> at</c><00:19:42.780><c> the</c><00:19:43.410><c> base</c><00:19:43.560><c> we</c><00:19:43.800><c> will</c><00:19:43.920><c> have</c>

00:19:44.320 --> 00:19:44.330 align:start position:0%
layers at the base we will have
 

00:19:44.330 --> 00:19:46.970 align:start position:0%
layers at the base we will have
aetherium<00:19:45.330><c> for</c><00:19:45.600><c> trusted</c><00:19:45.990><c> transactions</c><00:19:46.650><c> and</c>

00:19:46.970 --> 00:19:46.980 align:start position:0%
aetherium for trusted transactions and
 

00:19:46.980 --> 00:19:48.710 align:start position:0%
aetherium for trusted transactions and
guaranteed<00:19:47.460><c> execution</c><00:19:48.150><c> of</c><00:19:48.240><c> agreements</c>

00:19:48.710 --> 00:19:48.720 align:start position:0%
guaranteed execution of agreements
 

00:19:48.720 --> 00:19:50.540 align:start position:0%
guaranteed execution of agreements
linked<00:19:49.500><c> to</c><00:19:49.560><c> protocols</c><00:19:50.040><c> for</c><00:19:50.250><c> decentralized</c>

00:19:50.540 --> 00:19:50.550 align:start position:0%
linked to protocols for decentralized
 

00:19:50.550 --> 00:19:53.510 align:start position:0%
linked to protocols for decentralized
storage<00:19:51.300><c> bandwidth</c><00:19:51.870><c> heavy</c><00:19:52.110><c> compute</c><00:19:52.620><c> identity</c>

00:19:53.510 --> 00:19:53.520 align:start position:0%
storage bandwidth heavy compute identity
 

00:19:53.520 --> 00:19:56.750 align:start position:0%
storage bandwidth heavy compute identity
proof<00:19:53.940><c> of</c><00:19:54.090><c> location</c><00:19:54.660><c> and</c><00:19:54.810><c> others</c><00:19:55.470><c> on</c><00:19:55.770><c> top</c><00:19:56.580><c> of</c>

00:19:56.750 --> 00:19:56.760 align:start position:0%
proof of location and others on top of
 

00:19:56.760 --> 00:19:59.720 align:start position:0%
proof of location and others on top of
that<00:19:56.880><c> we</c><00:19:57.390><c> will</c><00:19:57.540><c> have</c><00:19:57.780><c> the</c><00:19:58.620><c> open</c><00:19:59.070><c> decentralized</c>

00:19:59.720 --> 00:19:59.730 align:start position:0%
that we will have the open decentralized
 

00:19:59.730 --> 00:20:01.550 align:start position:0%
that we will have the open decentralized
financial<00:20:00.300><c> plumbing</c><00:20:00.720><c> layer</c><00:20:00.900><c> for</c><00:20:01.470><c> the</c>

00:20:01.550 --> 00:20:01.560 align:start position:0%
financial plumbing layer for the
 

00:20:01.560 --> 00:20:04.250 align:start position:0%
financial plumbing layer for the
emerging<00:20:02.040><c> global</c><00:20:02.340><c> economy</c><00:20:03.210><c> this</c><00:20:04.080><c> will</c>

00:20:04.250 --> 00:20:04.260 align:start position:0%
emerging global economy this will
 

00:20:04.260 --> 00:20:06.710 align:start position:0%
emerging global economy this will
consist<00:20:04.440><c> of</c><00:20:04.740><c> price</c><00:20:04.980><c> table</c><00:20:05.340><c> tokens</c><00:20:05.760><c> borrowing</c>

00:20:06.710 --> 00:20:06.720 align:start position:0%
consist of price table tokens borrowing
 

00:20:06.720 --> 00:20:08.540 align:start position:0%
consist of price table tokens borrowing
and<00:20:06.900><c> lending</c><00:20:06.930><c> networks</c><00:20:07.560><c> decentralized</c>

00:20:08.540 --> 00:20:08.550 align:start position:0%
and lending networks decentralized
 

00:20:08.550 --> 00:20:11.420 align:start position:0%
and lending networks decentralized
exchanges<00:20:09.180><c> for</c><00:20:09.360><c> liquidity</c><00:20:09.860><c> tokenized</c><00:20:10.860><c> assets</c>

00:20:11.420 --> 00:20:11.430 align:start position:0%
exchanges for liquidity tokenized assets
 

00:20:11.430 --> 00:20:13.610 align:start position:0%
exchanges for liquidity tokenized assets
in<00:20:11.580><c> all</c><00:20:11.700><c> forms</c><00:20:12.180><c> other</c><00:20:12.840><c> financial</c><00:20:13.260><c> instruments</c>

00:20:13.610 --> 00:20:13.620 align:start position:0%
in all forms other financial instruments
 

00:20:13.620 --> 00:20:16.280 align:start position:0%
in all forms other financial instruments
like<00:20:13.980><c> derivatives</c><00:20:14.340><c> and</c><00:20:14.880><c> synthetics</c><00:20:15.450><c> payment</c>

00:20:16.280 --> 00:20:16.290 align:start position:0%
like derivatives and synthetics payment
 

00:20:16.290 --> 00:20:18.170 align:start position:0%
like derivatives and synthetics payment
system<00:20:16.620><c> subscription</c><00:20:17.310><c> systems</c><00:20:17.700><c> and</c><00:20:17.940><c> staking</c>

00:20:18.170 --> 00:20:18.180 align:start position:0%
system subscription systems and staking
 

00:20:18.180 --> 00:20:20.840 align:start position:0%
system subscription systems and staking
and<00:20:18.510><c> validation</c><00:20:19.080><c> systems</c><00:20:19.500><c> even</c><00:20:20.370><c> government</c>

00:20:20.840 --> 00:20:20.850 align:start position:0%
and validation systems even government
 

00:20:20.850 --> 00:20:23.180 align:start position:0%
and validation systems even government
systems<00:20:21.270><c> will</c><00:20:22.260><c> partially</c><00:20:22.530><c> lie</c><00:20:22.890><c> in</c><00:20:22.950><c> this</c>

00:20:23.180 --> 00:20:23.190 align:start position:0%
systems will partially lie in this
 

00:20:23.190 --> 00:20:24.920 align:start position:0%
systems will partially lie in this
financial<00:20:23.580><c> plumbing</c><00:20:24.060><c> layer</c><00:20:24.240><c> for</c><00:20:24.660><c> certain</c>

00:20:24.920 --> 00:20:24.930 align:start position:0%
financial plumbing layer for certain
 

00:20:24.930 --> 00:20:27.710 align:start position:0%
financial plumbing layer for certain
kinds<00:20:25.200><c> of</c><00:20:25.290><c> networks</c><00:20:25.650><c> and</c><00:20:25.890><c> tokens</c><00:20:26.480><c> much</c><00:20:27.480><c> of</c><00:20:27.630><c> the</c>

00:20:27.710 --> 00:20:27.720 align:start position:0%
kinds of networks and tokens much of the
 

00:20:27.720 --> 00:20:29.450 align:start position:0%
kinds of networks and tokens much of the
blockchain<00:20:27.930><c> systems</c><00:20:28.590><c> we</c><00:20:28.800><c> will</c><00:20:28.980><c> build</c><00:20:29.190><c> going</c>

00:20:29.450 --> 00:20:29.460 align:start position:0%
blockchain systems we will build going
 

00:20:29.460 --> 00:20:32.360 align:start position:0%
blockchain systems we will build going
forward<00:20:29.940><c> will</c><00:20:30.450><c> be</c><00:20:30.570><c> enabled</c><00:20:30.780><c> by</c><00:20:31.140><c> and</c><00:20:31.470><c> enhanced</c>

00:20:32.360 --> 00:20:32.370 align:start position:0%
forward will be enabled by and enhanced
 

00:20:32.370 --> 00:20:34.120 align:start position:0%
forward will be enabled by and enhanced
by<00:20:32.430><c> an</c><00:20:32.730><c> increasingly</c><00:20:33.270><c> capable</c><00:20:33.870><c> and</c>

00:20:34.120 --> 00:20:34.130 align:start position:0%
by an increasingly capable and
 

00:20:34.130 --> 00:20:36.770 align:start position:0%
by an increasingly capable and
sophisticated<00:20:35.130><c> financial</c><00:20:35.460><c> their</c><00:20:35.940><c> for</c>

00:20:36.770 --> 00:20:36.780 align:start position:0%
sophisticated financial their for
 

00:20:36.780 --> 00:20:38.480 align:start position:0%
sophisticated financial their for
instance<00:20:37.050><c> the</c><00:20:37.200><c> IT</c><00:20:37.380><c> industry</c><00:20:37.710><c> is</c><00:20:38.070><c> becoming</c>

00:20:38.480 --> 00:20:38.490 align:start position:0%
instance the IT industry is becoming
 

00:20:38.490 --> 00:20:42.260 align:start position:0%
instance the IT industry is becoming
more<00:20:38.640><c> granular</c><00:20:39.270><c> and</c><00:20:39.590><c> commoditized</c><00:20:41.270><c> trusted</c>

00:20:42.260 --> 00:20:42.270 align:start position:0%
more granular and commoditized trusted
 

00:20:42.270 --> 00:20:43.850 align:start position:0%
more granular and commoditized trusted
compute<00:20:42.690><c> heavy</c><00:20:42.900><c> compute</c><00:20:43.320><c> storage</c><00:20:43.650><c> and</c>

00:20:43.850 --> 00:20:43.860 align:start position:0%
compute heavy compute storage and
 

00:20:43.860 --> 00:20:45.710 align:start position:0%
compute heavy compute storage and
bandwidth<00:20:44.280><c> will</c><00:20:44.820><c> all</c><00:20:44.940><c> be</c><00:20:45.090><c> distributed</c><00:20:45.630><c> on</c>

00:20:45.710 --> 00:20:45.720 align:start position:0%
bandwidth will all be distributed on
 

00:20:45.720 --> 00:20:48.530 align:start position:0%
bandwidth will all be distributed on
cloud<00:20:46.050><c> and</c><00:20:46.320><c> fog</c><00:20:46.500><c> infrastructure</c><00:20:47.430><c> we</c><00:20:48.390><c> will</c>

00:20:48.530 --> 00:20:48.540 align:start position:0%
cloud and fog infrastructure we will
 

00:20:48.540 --> 00:20:50.960 align:start position:0%
cloud and fog infrastructure we will
negotiate<00:20:49.100><c> provision</c><00:20:50.100><c> and</c><00:20:50.310><c> pay</c><00:20:50.580><c> for</c><00:20:50.820><c> these</c>

00:20:50.960 --> 00:20:50.970 align:start position:0%
negotiate provision and pay for these
 

00:20:50.970 --> 00:20:53.360 align:start position:0%
negotiate provision and pay for these
services<00:20:51.510><c> through</c><00:20:51.780><c> smart</c><00:20:52.200><c> contracts</c><00:20:52.860><c> with</c>

00:20:53.360 --> 00:20:53.370 align:start position:0%
services through smart contracts with
 

00:20:53.370 --> 00:20:56.720 align:start position:0%
services through smart contracts with
tokens<00:20:53.670><c> in</c><00:20:54.120><c> real</c><00:20:54.420><c> time</c><00:20:55.070><c> providers</c><00:20:56.070><c> and</c><00:20:56.370><c> users</c>

00:20:56.720 --> 00:20:56.730 align:start position:0%
tokens in real time providers and users
 

00:20:56.730 --> 00:20:59.090 align:start position:0%
tokens in real time providers and users
will<00:20:57.330><c> need</c><00:20:57.510><c> natively</c><00:20:58.020><c> digital</c><00:20:58.530><c> financial</c>

00:20:59.090 --> 00:20:59.100 align:start position:0%
will need natively digital financial
 

00:20:59.100 --> 00:21:01.220 align:start position:0%
will need natively digital financial
instruments<00:20:59.610><c> to</c><00:21:00.060><c> hedge</c><00:21:00.270><c> their</c><00:21:00.510><c> pricing</c><00:21:01.020><c> and</c>

00:21:01.220 --> 00:21:01.230 align:start position:0%
instruments to hedge their pricing and
 

00:21:01.230 --> 00:21:05.480 align:start position:0%
instruments to hedge their pricing and
other<00:21:01.470><c> risks</c><00:21:02.660><c> the</c><00:21:03.660><c> base</c><00:21:03.840><c> trust</c><00:21:04.140><c> layer</c><00:21:04.490><c> enables</c>

00:21:05.480 --> 00:21:05.490 align:start position:0%
other risks the base trust layer enables
 

00:21:05.490 --> 00:21:07.730 align:start position:0%
other risks the base trust layer enables
the<00:21:05.700><c> financial</c><00:21:06.210><c> layer</c><00:21:06.360><c> and</c><00:21:06.690><c> upon</c><00:21:07.560><c> that</c>

00:21:07.730 --> 00:21:07.740 align:start position:0%
the financial layer and upon that
 

00:21:07.740 --> 00:21:10.010 align:start position:0%
the financial layer and upon that
financial<00:21:08.340><c> plumbing</c><00:21:08.730><c> layer</c><00:21:08.910><c> the</c><00:21:09.540><c> rest</c><00:21:09.750><c> of</c><00:21:09.900><c> the</c>

00:21:10.010 --> 00:21:10.020 align:start position:0%
financial plumbing layer the rest of the
 

00:21:10.020 --> 00:21:12.260 align:start position:0%
financial plumbing layer the rest of the
emerging<00:21:10.410><c> global</c><00:21:10.560><c> digital</c><00:21:11.070><c> economy</c><00:21:11.790><c> will</c><00:21:12.150><c> be</c>

00:21:12.260 --> 00:21:12.270 align:start position:0%
emerging global digital economy will be
 

00:21:12.270 --> 00:21:15.830 align:start position:0%
emerging global digital economy will be
built<00:21:12.480><c> it</c><00:21:13.470><c> is</c><00:21:13.560><c> an</c><00:21:13.740><c> amazing</c><00:21:14.280><c> time</c><00:21:14.520><c> to</c><00:21:14.820><c> be</c><00:21:14.850><c> active</c>

00:21:15.830 --> 00:21:15.840 align:start position:0%
built it is an amazing time to be active
 

00:21:15.840 --> 00:21:18.440 align:start position:0%
built it is an amazing time to be active
in<00:21:16.080><c> the</c><00:21:16.230><c> technology</c><00:21:16.830><c> space</c><00:21:17.130><c> and</c><00:21:17.520><c> great</c><00:21:18.150><c> to</c><00:21:18.330><c> be</c>

00:21:18.440 --> 00:21:18.450 align:start position:0%
in the technology space and great to be
 

00:21:18.450 --> 00:21:21.050 align:start position:0%
in the technology space and great to be
a<00:21:18.480><c> developer</c><00:21:19.140><c> at</c><00:21:19.320><c> a</c><00:21:19.440><c> time</c><00:21:19.830><c> when</c><00:21:20.460><c> the</c><00:21:20.580><c> Nerds</c><00:21:20.850><c> are</c>

00:21:21.050 --> 00:21:21.060 align:start position:0%
a developer at a time when the Nerds are
 

00:21:21.060 --> 00:21:23.180 align:start position:0%
a developer at a time when the Nerds are
about<00:21:21.270><c> to</c><00:21:21.450><c> inherit</c><00:21:21.870><c> the</c><00:21:22.020><c> earth</c><00:21:22.050><c> to</c><00:21:22.860><c> a</c><00:21:22.890><c> far</c>

00:21:23.180 --> 00:21:23.190 align:start position:0%
about to inherit the earth to a far
 

00:21:23.190 --> 00:21:24.560 align:start position:0%
about to inherit the earth to a far
greater<00:21:23.220><c> extent</c><00:21:23.520><c> than</c><00:21:24.210><c> in</c><00:21:24.330><c> previous</c>

00:21:24.560 --> 00:21:24.570 align:start position:0%
greater extent than in previous
 

00:21:24.570 --> 00:21:29.960 align:start position:0%
greater extent than in previous
technological<00:21:25.140><c> years</c><00:21:28.520><c> there</c><00:21:29.520><c> will</c><00:21:29.640><c> be</c><00:21:29.670><c> a</c><00:21:29.790><c> bit</c>

00:21:29.960 --> 00:21:29.970 align:start position:0%
technological years there will be a bit
 

00:21:29.970 --> 00:21:31.820 align:start position:0%
technological years there will be a bit
of<00:21:30.090><c> a</c><00:21:30.150><c> tug</c><00:21:30.330><c> of</c><00:21:30.360><c> war</c><00:21:30.510><c> over</c><00:21:30.930><c> the</c><00:21:31.020><c> next</c><00:21:31.260><c> few</c><00:21:31.440><c> years</c>

00:21:31.820 --> 00:21:31.830 align:start position:0%
of a tug of war over the next few years
 

00:21:31.830 --> 00:21:34.760 align:start position:0%
of a tug of war over the next few years
web<00:21:32.640><c> to</c><00:21:32.910><c> anti-patterns</c><00:21:33.660><c> won't</c><00:21:33.930><c> die</c><00:21:34.140><c> rapidly</c>

00:21:34.760 --> 00:21:34.770 align:start position:0%
web to anti-patterns won't die rapidly
 

00:21:34.770 --> 00:21:37.490 align:start position:0%
web to anti-patterns won't die rapidly
and<00:21:34.890><c> easily</c><00:21:35.340><c> and</c><00:21:35.520><c> many</c><00:21:35.940><c> web</c><00:21:36.240><c> many</c><00:21:36.900><c> valuable</c>

00:21:37.490 --> 00:21:37.500 align:start position:0%
and easily and many web many valuable
 

00:21:37.500 --> 00:21:38.289 align:start position:0%
and easily and many web many valuable
web<00:21:37.680><c> to</c>

00:21:38.289 --> 00:21:38.299 align:start position:0%
web to
 

00:21:38.299 --> 00:21:40.389 align:start position:0%
web to
struck<00:21:38.629><c> should</c><00:21:38.959><c> be</c><00:21:39.080><c> evolved</c><00:21:39.559><c> to</c><00:21:39.859><c> benefit</c><00:21:40.249><c> web</c>

00:21:40.389 --> 00:21:40.399 align:start position:0%
struck should be evolved to benefit web
 

00:21:40.399 --> 00:21:42.909 align:start position:0%
struck should be evolved to benefit web
three<00:21:40.729><c> and</c><00:21:41.119><c> of</c><00:21:41.749><c> course</c><00:21:41.959><c> there</c><00:21:42.169><c> will</c><00:21:42.289><c> be</c><00:21:42.320><c> web</c><00:21:42.619><c> to</c>

00:21:42.909 --> 00:21:42.919 align:start position:0%
three and of course there will be web to
 

00:21:42.919 --> 00:21:46.619 align:start position:0%
three and of course there will be web to
wolves<00:21:43.369><c> in</c><00:21:43.519><c> webs</c><00:21:43.729><c> threes</c><00:21:44.349><c> sheep's</c><00:21:45.349><c> clothing</c>

00:21:46.619 --> 00:21:46.629 align:start position:0%
wolves in webs threes sheep's clothing
 

00:21:46.629 --> 00:21:49.599 align:start position:0%
wolves in webs threes sheep's clothing
to<00:21:47.629><c> achieve</c><00:21:47.959><c> rapid</c><00:21:48.589><c> technological</c><00:21:49.009><c> evolution</c>

00:21:49.599 --> 00:21:49.609 align:start position:0%
to achieve rapid technological evolution
 

00:21:49.609 --> 00:21:52.629 align:start position:0%
to achieve rapid technological evolution
and<00:21:50.239><c> societal</c><00:21:50.809><c> advancement</c><00:21:51.499><c> we</c><00:21:52.039><c> simply</c><00:21:52.459><c> need</c>

00:21:52.629 --> 00:21:52.639 align:start position:0%
and societal advancement we simply need
 

00:21:52.639 --> 00:21:55.690 align:start position:0%
and societal advancement we simply need
more<00:21:52.669><c> web</c><00:21:53.239><c> 3</c><00:21:53.599><c> developers</c><00:21:54.169><c> we</c><00:21:55.129><c> need</c><00:21:55.339><c> the</c><00:21:55.519><c> best</c>

00:21:55.690 --> 00:21:55.700 align:start position:0%
more web 3 developers we need the best
 

00:21:55.700 --> 00:21:57.070 align:start position:0%
more web 3 developers we need the best
and<00:21:55.999><c> the</c><00:21:56.089><c> brightest</c><00:21:56.389><c> from</c><00:21:56.599><c> the</c><00:21:56.690><c> web</c><00:21:56.839><c> to</c>

00:21:57.070 --> 00:21:57.080 align:start position:0%
and the brightest from the web to
 

00:21:57.080 --> 00:21:58.570 align:start position:0%
and the brightest from the web to
world's<00:21:57.440><c> to</c><00:21:57.679><c> understand</c><00:21:58.099><c> what</c><00:21:58.309><c> is</c><00:21:58.429><c> now</c>

00:21:58.570 --> 00:21:58.580 align:start position:0%
world's to understand what is now
 

00:21:58.580 --> 00:22:02.169 align:start position:0%
world's to understand what is now
possible<00:21:59.179><c> under</c><00:21:59.869><c> this</c><00:22:00.019><c> new</c><00:22:00.200><c> paradigm</c><00:22:01.179><c> there's</c>

00:22:02.169 --> 00:22:02.179 align:start position:0%
possible under this new paradigm there's
 

00:22:02.179 --> 00:22:04.389 align:start position:0%
possible under this new paradigm there's
somewhat<00:22:02.509><c> north</c><00:22:02.749><c> of</c><00:22:03.019><c> 30</c><00:22:03.469><c> million</c><00:22:03.830><c> software</c>

00:22:04.389 --> 00:22:04.399 align:start position:0%
somewhat north of 30 million software
 

00:22:04.399 --> 00:22:06.849 align:start position:0%
somewhat north of 30 million software
developers<00:22:04.849><c> globally</c><00:22:05.330><c> that</c><00:22:06.200><c> number</c><00:22:06.499><c> includes</c>

00:22:06.849 --> 00:22:06.859 align:start position:0%
developers globally that number includes
 

00:22:06.859 --> 00:22:10.419 align:start position:0%
developers globally that number includes
as<00:22:07.849><c> rough</c><00:22:08.179><c> estimates</c><00:22:08.719><c> but</c><00:22:09.440><c> 600,000</c>

00:22:10.419 --> 00:22:10.429 align:start position:0%
as rough estimates but 600,000
 

00:22:10.429 --> 00:22:12.759 align:start position:0%
as rough estimates but 600,000
open-source<00:22:10.940><c> developers</c><00:22:11.479><c> 12</c><00:22:12.169><c> million</c><00:22:12.499><c> Java</c>

00:22:12.759 --> 00:22:12.769 align:start position:0%
open-source developers 12 million Java
 

00:22:12.769 --> 00:22:15.459 align:start position:0%
open-source developers 12 million Java
developers<00:22:13.369><c> 8</c><00:22:14.029><c> million</c><00:22:14.450><c> Python</c><00:22:14.899><c> developers</c>

00:22:15.459 --> 00:22:15.469 align:start position:0%
developers 8 million Python developers
 

00:22:15.469 --> 00:22:18.699 align:start position:0%
developers 8 million Python developers
20<00:22:16.369><c> million</c><00:22:16.609><c> apple</c><00:22:16.999><c> iOS</c><00:22:17.299><c> developers</c><00:22:18.200><c> 3</c>

00:22:18.699 --> 00:22:18.709 align:start position:0%
20 million apple iOS developers 3
 

00:22:18.709 --> 00:22:21.729 align:start position:0%
20 million apple iOS developers 3
million<00:22:19.009><c> Microsoft</c><00:22:19.549><c> developers</c><00:22:20.739><c> 15,000</c>

00:22:21.729 --> 00:22:21.739 align:start position:0%
million Microsoft developers 15,000
 

00:22:21.739 --> 00:22:26.529 align:start position:0%
million Microsoft developers 15,000
Linux<00:22:22.039><c> developers</c><00:22:24.099><c> so</c><00:22:25.099><c> here's</c><00:22:25.339><c> my</c><00:22:25.519><c> ask</c><00:22:25.729><c> or</c>

00:22:26.529 --> 00:22:26.539 align:start position:0%
Linux developers so here's my ask or
 

00:22:26.539 --> 00:22:28.959 align:start position:0%
Linux developers so here's my ask or
rather<00:22:26.779><c> a</c><00:22:26.899><c> challenge</c><00:22:27.379><c> to</c><00:22:28.009><c> all</c><00:22:28.039><c> of</c><00:22:28.249><c> us</c><00:22:28.489><c> for</c><00:22:28.729><c> next</c>

00:22:28.959 --> 00:22:28.969 align:start position:0%
rather a challenge to all of us for next
 

00:22:28.969 --> 00:22:30.909 align:start position:0%
rather a challenge to all of us for next
year<00:22:29.209><c> let's</c><00:22:29.869><c> get</c><00:22:30.019><c> 1</c><00:22:30.320><c> million</c><00:22:30.679><c> of</c><00:22:30.799><c> those</c>

00:22:30.909 --> 00:22:30.919 align:start position:0%
year let's get 1 million of those
 

00:22:30.919 --> 00:22:32.379 align:start position:0%
year let's get 1 million of those
developers<00:22:31.399><c> building</c><00:22:31.820><c> with</c><00:22:31.969><c> the</c><00:22:32.089><c> theorem</c>

00:22:32.379 --> 00:22:32.389 align:start position:0%
developers building with the theorem
 

00:22:32.389 --> 00:22:35.469 align:start position:0%
developers building with the theorem
technology<00:22:33.190><c> we</c><00:22:34.190><c> can</c><00:22:34.399><c> currently</c><00:22:34.579><c> estimating</c>

00:22:35.469 --> 00:22:35.479 align:start position:0%
technology we can currently estimating
 

00:22:35.479 --> 00:22:37.839 align:start position:0%
technology we can currently estimating
truffle<00:22:35.899><c> downloads</c><00:22:36.440><c> and</c><00:22:36.799><c> other</c><00:22:37.219><c> metrics</c><00:22:37.700><c> that</c>

00:22:37.839 --> 00:22:37.849 align:start position:0%
truffle downloads and other metrics that
 

00:22:37.849 --> 00:22:40.379 align:start position:0%
truffle downloads and other metrics that
there<00:22:38.059><c> are</c><00:22:38.209><c> as</c><00:22:38.479><c> many</c><00:22:38.509><c> as</c><00:22:38.859><c> 500,000</c><00:22:39.859><c> developers</c>

00:22:40.379 --> 00:22:40.389 align:start position:0%
there are as many as 500,000 developers
 

00:22:40.389 --> 00:22:42.879 align:start position:0%
there are as many as 500,000 developers
engaging<00:22:41.389><c> with</c><00:22:41.690><c> etherium</c><00:22:42.169><c> somewhat</c>

00:22:42.879 --> 00:22:42.889 align:start position:0%
engaging with etherium somewhat
 

00:22:42.889 --> 00:22:46.319 align:start position:0%
engaging with etherium somewhat
regularly<00:22:43.339><c> in</c><00:22:43.669><c> some</c><00:22:43.940><c> capacity</c><00:22:44.599><c> and</c><00:22:45.129><c> probably</c>

00:22:46.319 --> 00:22:46.329 align:start position:0%
regularly in some capacity and probably
 

00:22:46.329 --> 00:22:49.869 align:start position:0%
regularly in some capacity and probably
200,000<00:22:47.329><c> of</c><00:22:47.539><c> those</c><00:22:47.749><c> or</c><00:22:48.079><c> more</c><00:22:48.529><c> have</c><00:22:49.279><c> full-time</c>

00:22:49.869 --> 00:22:49.879 align:start position:0%
200,000 of those or more have full-time
 

00:22:49.879 --> 00:22:52.209 align:start position:0%
200,000 of those or more have full-time
at<00:22:50.239><c> theorem</c><00:22:50.659><c> developer</c><00:22:51.109><c> jobs</c><00:22:51.349><c> or</c><00:22:51.619><c> otherwise</c>

00:22:52.209 --> 00:22:52.219 align:start position:0%
at theorem developer jobs or otherwise
 

00:22:52.219 --> 00:22:56.019 align:start position:0%
at theorem developer jobs or otherwise
fully<00:22:52.940><c> engaged</c><00:22:53.649><c> at</c><00:22:54.649><c> first</c><00:22:54.950><c> a</c><00:22:55.129><c> million</c><00:22:55.549><c> that</c>

00:22:56.019 --> 00:22:56.029 align:start position:0%
fully engaged at first a million that
 

00:22:56.029 --> 00:22:57.699 align:start position:0%
fully engaged at first a million that
theorem<00:22:56.450><c> devs</c><00:22:56.749><c> might</c><00:22:57.079><c> sound</c><00:22:57.379><c> overly</c>

00:22:57.699 --> 00:22:57.709 align:start position:0%
theorem devs might sound overly
 

00:22:57.709 --> 00:23:00.310 align:start position:0%
theorem devs might sound overly
ambitious<00:22:58.209><c> but</c><00:22:59.209><c> I</c><00:22:59.269><c> think</c><00:22:59.539><c> that</c><00:22:59.690><c> the</c><00:22:59.839><c> concerted</c>

00:23:00.310 --> 00:23:00.320 align:start position:0%
ambitious but I think that the concerted
 

00:23:00.320 --> 00:23:01.859 align:start position:0%
ambitious but I think that the concerted
effort<00:23:00.589><c> we</c><00:23:00.709><c> can</c><00:23:00.889><c> get</c><00:23:01.039><c> there</c><00:23:01.219><c> in</c><00:23:01.249><c> a</c><00:23:01.429><c> year</c><00:23:01.459><c> or</c><00:23:01.669><c> so</c>

00:23:01.859 --> 00:23:01.869 align:start position:0%
effort we can get there in a year or so
 

00:23:01.869 --> 00:23:04.389 align:start position:0%
effort we can get there in a year or so
we<00:23:02.869><c> have</c><00:23:02.989><c> an</c><00:23:03.109><c> incredibly</c><00:23:03.589><c> talented</c><00:23:03.859><c> range</c><00:23:04.249><c> of</c>

00:23:04.389 --> 00:23:04.399 align:start position:0%
we have an incredibly talented range of
 

00:23:04.399 --> 00:23:06.879 align:start position:0%
we have an incredibly talented range of
people<00:23:04.579><c> and</c><00:23:04.969><c> teams</c><00:23:05.450><c> contributing</c><00:23:06.379><c> their</c><00:23:06.559><c> time</c>

00:23:06.879 --> 00:23:06.889 align:start position:0%
people and teams contributing their time
 

00:23:06.889 --> 00:23:09.039 align:start position:0%
people and teams contributing their time
and<00:23:07.219><c> efforts</c><00:23:07.549><c> to</c><00:23:07.759><c> improving</c><00:23:08.419><c> tools</c><00:23:08.839><c> and</c>

00:23:09.039 --> 00:23:09.049 align:start position:0%
and efforts to improving tools and
 

00:23:09.049 --> 00:23:13.060 align:start position:0%
and efforts to improving tools and
resources<00:23:09.459><c> we've</c><00:23:10.459><c> all</c><00:23:10.609><c> dedicated</c><00:23:11.889><c> decided</c><00:23:12.889><c> to</c>

00:23:13.060 --> 00:23:13.070 align:start position:0%
resources we've all dedicated decided to
 

00:23:13.070 --> 00:23:15.879 align:start position:0%
resources we've all dedicated decided to
redirect<00:23:13.669><c> our</c><00:23:13.879><c> careers</c><00:23:14.299><c> our</c><00:23:14.629><c> days</c><00:23:14.929><c> nights</c><00:23:15.529><c> and</c>

00:23:15.879 --> 00:23:15.889 align:start position:0%
redirect our careers our days nights and
 

00:23:15.889 --> 00:23:18.129 align:start position:0%
redirect our careers our days nights and
weekends<00:23:16.459><c> to</c><00:23:16.639><c> building</c><00:23:17.389><c> this</c><00:23:17.509><c> technology</c>

00:23:18.129 --> 00:23:18.139 align:start position:0%
weekends to building this technology
 

00:23:18.139 --> 00:23:20.619 align:start position:0%
weekends to building this technology
together<00:23:18.320><c> and</c><00:23:19.129><c> we've</c><00:23:19.489><c> come</c><00:23:19.729><c> all</c><00:23:19.909><c> this</c><00:23:19.969><c> way</c><00:23:20.179><c> in</c>

00:23:20.619 --> 00:23:20.629 align:start position:0%
together and we've come all this way in
 

00:23:20.629 --> 00:23:23.199 align:start position:0%
together and we've come all this way in
just<00:23:20.959><c> a</c><00:23:21.079><c> few</c><00:23:21.259><c> short</c><00:23:21.320><c> years</c><00:23:21.820><c> from</c><00:23:22.820><c> the</c><00:23:22.940><c> start</c><00:23:23.149><c> of</c>

00:23:23.199 --> 00:23:23.209 align:start position:0%
just a few short years from the start of
 

00:23:23.209 --> 00:23:25.209 align:start position:0%
just a few short years from the start of
the<00:23:23.299><c> theorem</c><00:23:23.599><c> project</c><00:23:24.049><c> this</c><00:23:24.529><c> is</c><00:23:24.739><c> all</c><00:23:24.889><c> seemed</c>

00:23:25.209 --> 00:23:25.219 align:start position:0%
the theorem project this is all seemed
 

00:23:25.219 --> 00:23:26.949 align:start position:0%
the theorem project this is all seemed
inevitable<00:23:25.519><c> to</c><00:23:26.029><c> me</c><00:23:26.149><c> though</c><00:23:26.809><c> it</c><00:23:26.929><c> is</c>

00:23:26.949 --> 00:23:26.959 align:start position:0%
inevitable to me though it is
 

00:23:26.959 --> 00:23:29.859 align:start position:0%
inevitable to me though it is
astonishing<00:23:27.440><c> how</c><00:23:27.919><c> fast</c><00:23:28.249><c> it</c><00:23:28.459><c> is</c><00:23:28.579><c> moved</c><00:23:28.879><c> but</c><00:23:29.690><c> for</c>

00:23:29.859 --> 00:23:29.869 align:start position:0%
astonishing how fast it is moved but for
 

00:23:29.869 --> 00:23:31.509 align:start position:0%
astonishing how fast it is moved but for
all<00:23:29.959><c> of</c><00:23:30.079><c> those</c><00:23:30.200><c> looking</c><00:23:30.619><c> in</c><00:23:30.799><c> and</c><00:23:31.039><c> waiting</c><00:23:31.429><c> on</c>

00:23:31.509 --> 00:23:31.519 align:start position:0%
all of those looking in and waiting on
 

00:23:31.519 --> 00:23:34.440 align:start position:0%
all of those looking in and waiting on
us<00:23:31.759><c> let's</c><00:23:32.539><c> get</c><00:23:32.719><c> this</c><00:23:32.899><c> thing</c><00:23:32.959><c> in</c><00:23:33.229><c> a</c><00:23:33.289><c> higher</c><00:23:33.469><c> gear</c>

00:23:34.440 --> 00:23:34.450 align:start position:0%
us let's get this thing in a higher gear
 

00:23:34.450 --> 00:23:37.629 align:start position:0%
us let's get this thing in a higher gear
this<00:23:35.450><c> is</c><00:23:35.509><c> my</c><00:23:35.779><c> challenge</c><00:23:36.049><c> to</c><00:23:36.440><c> all</c><00:23:36.469><c> of</c><00:23:36.589><c> us</c><00:23:36.799><c> 1</c>

00:23:37.629 --> 00:23:37.639 align:start position:0%
this is my challenge to all of us 1
 

00:23:37.639 --> 00:23:40.810 align:start position:0%
this is my challenge to all of us 1
million<00:23:37.879><c> of</c><00:23:38.119><c> theorem</c><00:23:38.389><c> developers</c><00:23:39.219><c> by</c><00:23:40.219><c> DEFCON</c>

00:23:40.810 --> 00:23:40.820 align:start position:0%
million of theorem developers by DEFCON
 

00:23:40.820 --> 00:23:43.089 align:start position:0%
million of theorem developers by DEFCON
6<00:23:41.179><c> perhaps</c><00:23:41.629><c> maybe</c><00:23:42.320><c> that's</c><00:23:42.559><c> a</c><00:23:42.649><c> little</c><00:23:42.679><c> too</c>

00:23:43.089 --> 00:23:43.099 align:start position:0%
6 perhaps maybe that's a little too
 

00:23:43.099 --> 00:23:44.999 align:start position:0%
6 perhaps maybe that's a little too
ambitious<00:23:43.219><c> but</c><00:23:43.729><c> we</c><00:23:43.849><c> will</c><00:23:44.029><c> give</c><00:23:44.179><c> it</c><00:23:44.209><c> a</c><00:23:44.329><c> shot</c>

00:23:44.999 --> 00:23:45.009 align:start position:0%
ambitious but we will give it a shot
 

00:23:45.009 --> 00:23:48.190 align:start position:0%
ambitious but we will give it a shot
over<00:23:46.009><c> the</c><00:23:46.339><c> next</c><00:23:46.579><c> days</c><00:23:46.849><c> and</c><00:23:46.879><c> weeks</c><00:23:47.200><c> please</c>

00:23:48.190 --> 00:23:48.200 align:start position:0%
over the next days and weeks please
 

00:23:48.200 --> 00:23:49.839 align:start position:0%
over the next days and weeks please
reach<00:23:48.469><c> out</c><00:23:48.649><c> to</c><00:23:48.859><c> your</c><00:23:48.950><c> developer</c><00:23:49.460><c> friends</c><00:23:49.759><c> who</c>

00:23:49.839 --> 00:23:49.849 align:start position:0%
reach out to your developer friends who
 

00:23:49.849 --> 00:23:50.909 align:start position:0%
reach out to your developer friends who
are<00:23:49.940><c> not</c><00:23:50.149><c> yet</c><00:23:50.389><c> in</c><00:23:50.570><c> the</c>

00:23:50.909 --> 00:23:50.919 align:start position:0%
are not yet in the
 

00:23:50.919 --> 00:23:53.220 align:start position:0%
are not yet in the
space<00:23:51.369><c> we</c><00:23:52.299><c> are</c><00:23:52.450><c> putting</c><00:23:52.690><c> together</c><00:23:52.899><c> several</c>

00:23:53.220 --> 00:23:53.230 align:start position:0%
space we are putting together several
 

00:23:53.230 --> 00:23:55.919 align:start position:0%
space we are putting together several
projects<00:23:53.889><c> to</c><00:23:53.980><c> support</c><00:23:54.190><c> this</c><00:23:54.639><c> thrust</c><00:23:54.940><c> the</c>

00:23:55.919 --> 00:23:55.929 align:start position:0%
projects to support this thrust the
 

00:23:55.929 --> 00:23:59.070 align:start position:0%
projects to support this thrust the
website<00:23:56.379><c> 1</c><00:23:56.859><c> million</c><00:23:57.279><c> devs</c><00:23:57.580><c> comm</c><00:23:58.239><c> will</c><00:23:58.899><c> house</c>

00:23:59.070 --> 00:23:59.080 align:start position:0%
website 1 million devs comm will house
 

00:23:59.080 --> 00:24:02.009 align:start position:0%
website 1 million devs comm will house
multiple<00:23:59.619><c> ways</c><00:23:59.799><c> to</c><00:23:59.830><c> induce</c><00:24:00.419><c> introduce</c><00:24:01.419><c> your</c>

00:24:02.009 --> 00:24:02.019 align:start position:0%
multiple ways to induce introduce your
 

00:24:02.019 --> 00:24:04.379 align:start position:0%
multiple ways to induce introduce your
developer<00:24:02.889><c> friends</c><00:24:03.279><c> to</c><00:24:03.489><c> many</c><00:24:03.730><c> of</c><00:24:03.970><c> the</c><00:24:04.149><c> holy</c>

00:24:04.379 --> 00:24:04.389 align:start position:0%
developer friends to many of the holy
 

00:24:04.389 --> 00:24:06.899 align:start position:0%
developer friends to many of the holy
 moments<00:24:05.289><c> that</c><00:24:05.769><c> blew</c><00:24:06.070><c> your</c><00:24:06.309><c> minds</c><00:24:06.580><c> when</c>

00:24:06.899 --> 00:24:06.909 align:start position:0%
 moments that blew your minds when
 

00:24:06.909 --> 00:24:09.210 align:start position:0%
 moments that blew your minds when
you<00:24:07.029><c> learned</c><00:24:07.269><c> about</c><00:24:07.389><c> the</c><00:24:07.690><c> space</c><00:24:08.159><c> Kevin</c><00:24:09.159><c> a</c>

00:24:09.210 --> 00:24:09.220 align:start position:0%
you learned about the space Kevin a
 

00:24:09.220 --> 00:24:10.769 align:start position:0%
you learned about the space Kevin a
walkie<00:24:09.399><c> and</c><00:24:09.580><c> the</c><00:24:09.789><c> get</c><00:24:09.940><c> coin</c><00:24:10.179><c> team</c><00:24:10.419><c> have</c><00:24:10.600><c> put</c>

00:24:10.769 --> 00:24:10.779 align:start position:0%
walkie and the get coin team have put
 

00:24:10.779 --> 00:24:12.779 align:start position:0%
walkie and the get coin team have put
together<00:24:10.869><c> a</c><00:24:11.109><c> game</c><00:24:11.320><c> that</c><00:24:11.590><c> will</c><00:24:11.710><c> be</c><00:24:12.340><c> available</c>

00:24:12.779 --> 00:24:12.789 align:start position:0%
together a game that will be available
 

00:24:12.789 --> 00:24:14.580 align:start position:0%
together a game that will be available
extremely<00:24:13.330><c> soon</c><00:24:13.600><c> to</c><00:24:13.779><c> highlight</c><00:24:14.139><c> many</c><00:24:14.440><c> of</c>

00:24:14.580 --> 00:24:14.590 align:start position:0%
extremely soon to highlight many of
 

00:24:14.590 --> 00:24:17.580 align:start position:0%
extremely soon to highlight many of
these<00:24:14.710><c> insights</c><00:24:15.220><c> Billy</c><00:24:16.179><c> lucky</c><00:24:16.659><c> James</c><00:24:17.259><c> Cox</c>

00:24:17.580 --> 00:24:17.590 align:start position:0%
these insights Billy lucky James Cox
 

00:24:17.590 --> 00:24:20.820 align:start position:0%
these insights Billy lucky James Cox
karate<00:24:18.070><c> and</c><00:24:18.399><c> Joe</c><00:24:19.210><c> Burnett</c><00:24:19.809><c> of</c><00:24:20.049><c> the</c><00:24:20.320><c> rapid</c><00:24:20.679><c> team</c>

00:24:20.820 --> 00:24:20.830 align:start position:0%
karate and Joe Burnett of the rapid team
 

00:24:20.830 --> 00:24:23.549 align:start position:0%
karate and Joe Burnett of the rapid team
have<00:24:21.039><c> put</c><00:24:21.220><c> together</c><00:24:21.309><c> a</c><00:24:21.700><c> quests</c><00:24:22.269><c> system</c><00:24:22.899><c> to</c>

00:24:23.549 --> 00:24:23.559 align:start position:0%
have put together a quests system to
 

00:24:23.559 --> 00:24:25.710 align:start position:0%
have put together a quests system to
help<00:24:23.679><c> your</c><00:24:23.889><c> dev</c><00:24:24.129><c> friends</c><00:24:24.549><c> set</c><00:24:25.149><c> out</c><00:24:25.179><c> on</c><00:24:25.450><c> holy</c>

00:24:25.710 --> 00:24:25.720 align:start position:0%
help your dev friends set out on holy
 

00:24:25.720 --> 00:24:29.039 align:start position:0%
help your dev friends set out on holy
 moment<00:24:26.379><c> learning</c><00:24:27.100><c> Odysseys</c><00:24:27.609><c> and</c><00:24:28.049><c> there</c>

00:24:29.039 --> 00:24:29.049 align:start position:0%
 moment learning Odysseys and there
 

00:24:29.049 --> 00:24:31.320 align:start position:0%
 moment learning Odysseys and there
will<00:24:29.169><c> be</c><00:24:29.200><c> badges</c><00:24:29.710><c> kudos</c><00:24:30.129><c> and</c><00:24:30.159><c> historicist</c><00:24:31.210><c> in</c>

00:24:31.320 --> 00:24:31.330 align:start position:0%
will be badges kudos and historicist in
 

00:24:31.330 --> 00:24:33.690 align:start position:0%
will be badges kudos and historicist in
a<00:24:31.539><c> scoring</c><00:24:31.840><c> system</c><00:24:31.960><c> if</c><00:24:32.889><c> you</c><00:24:33.070><c> bring</c><00:24:33.249><c> in</c><00:24:33.399><c> twenty</c>

00:24:33.690 --> 00:24:33.700 align:start position:0%
a scoring system if you bring in twenty
 

00:24:33.700 --> 00:24:36.359 align:start position:0%
a scoring system if you bring in twenty
devs<00:24:33.940><c> and</c><00:24:34.299><c> they</c><00:24:34.869><c> start</c><00:24:35.169><c> racking</c><00:24:35.350><c> up</c><00:24:35.619><c> kudos</c><00:24:36.070><c> and</c>

00:24:36.359 --> 00:24:36.369 align:start position:0%
devs and they start racking up kudos and
 

00:24:36.369 --> 00:24:38.639 align:start position:0%
devs and they start racking up kudos and
points<00:24:36.730><c> you'll</c><00:24:37.299><c> find</c><00:24:37.629><c> yourself</c><00:24:37.960><c> rising</c><00:24:38.470><c> on</c>

00:24:38.639 --> 00:24:38.649 align:start position:0%
points you'll find yourself rising on
 

00:24:38.649 --> 00:24:40.769 align:start position:0%
points you'll find yourself rising on
the<00:24:38.710><c> leaderboard</c><00:24:39.369><c> as</c><00:24:39.609><c> they</c><00:24:40.419><c> will</c><00:24:40.570><c> all</c>

00:24:40.769 --> 00:24:40.779 align:start position:0%
the leaderboard as they will all
 

00:24:40.779 --> 00:24:44.099 align:start position:0%
the leaderboard as they will all
represent<00:24:41.470><c> members</c><00:24:41.799><c> of</c><00:24:41.919><c> your</c><00:24:42.070><c> team</c><00:24:43.049><c> by</c><00:24:44.049><c> the</c>

00:24:44.099 --> 00:24:44.109 align:start position:0%
represent members of your team by the
 

00:24:44.109 --> 00:24:46.169 align:start position:0%
represent members of your team by the
way<00:24:44.320><c> staking</c><00:24:44.799><c> out</c><00:24:44.919><c> a</c><00:24:44.950><c> position</c><00:24:45.399><c> in</c><00:24:45.639><c> the</c><00:24:45.970><c> top</c>

00:24:46.169 --> 00:24:46.179 align:start position:0%
way staking out a position in the top
 

00:24:46.179 --> 00:24:48.299 align:start position:0%
way staking out a position in the top
ten<00:24:46.480><c> on</c><00:24:46.749><c> that</c><00:24:47.200><c> leaderboard</c><00:24:47.559><c> will</c><00:24:47.950><c> make</c><00:24:48.100><c> you</c>

00:24:48.299 --> 00:24:48.309 align:start position:0%
ten on that leaderboard will make you
 

00:24:48.309 --> 00:24:50.820 align:start position:0%
ten on that leaderboard will make you
super<00:24:48.789><c> hireable</c><00:24:49.210><c> in</c><00:24:49.539><c> a</c><00:24:49.960><c> developer</c><00:24:50.529><c> relations</c>

00:24:50.820 --> 00:24:50.830 align:start position:0%
super hireable in a developer relations
 

00:24:50.830 --> 00:24:54.330 align:start position:0%
super hireable in a developer relations
dev<00:24:51.519><c> rel</c><00:24:51.730><c> role</c><00:24:52.029><c> in</c><00:24:52.269><c> our</c><00:24:52.480><c> ecosystem</c><00:24:53.340><c> consensus</c>

00:24:54.330 --> 00:24:54.340 align:start position:0%
dev rel role in our ecosystem consensus
 

00:24:54.340 --> 00:24:56.039 align:start position:0%
dev rel role in our ecosystem consensus
and<00:24:54.460><c> others</c><00:24:54.700><c> find</c><00:24:55.179><c> people</c><00:24:55.539><c> with</c><00:24:55.629><c> those</c><00:24:55.749><c> skills</c>

00:24:56.039 --> 00:24:56.049 align:start position:0%
and others find people with those skills
 

00:24:56.049 --> 00:24:58.830 align:start position:0%
and others find people with those skills
to<00:24:56.230><c> be</c><00:24:56.320><c> enormous</c><00:24:56.559><c> ly</c><00:24:56.830><c> valuable</c><00:24:57.279><c> the</c><00:24:58.239><c> 1</c><00:24:58.419><c> million</c>

00:24:58.830 --> 00:24:58.840 align:start position:0%
to be enormous ly valuable the 1 million
 

00:24:58.840 --> 00:25:02.039 align:start position:0%
to be enormous ly valuable the 1 million
dev<00:24:59.109><c> comm</c><00:24:59.679><c> site</c><00:24:59.980><c> will</c><00:25:00.399><c> reveal</c><00:25:00.759><c> much</c><00:25:01.090><c> more</c><00:25:01.480><c> fun</c>

00:25:02.039 --> 00:25:02.049 align:start position:0%
dev comm site will reveal much more fun
 

00:25:02.049 --> 00:25:04.680 align:start position:0%
dev comm site will reveal much more fun
mechanism<00:25:02.679><c> over</c><00:25:03.070><c> the</c><00:25:03.159><c> next</c><00:25:03.369><c> few</c><00:25:03.580><c> days</c><00:25:03.730><c> and</c><00:25:04.149><c> we</c>

00:25:04.680 --> 00:25:04.690 align:start position:0%
mechanism over the next few days and we
 

00:25:04.690 --> 00:25:06.840 align:start position:0%
mechanism over the next few days and we
will<00:25:04.840><c> grow</c><00:25:05.019><c> it</c><00:25:05.109><c> over</c><00:25:05.320><c> time</c><00:25:05.529><c> please</c><00:25:06.489><c> check</c><00:25:06.730><c> it</c>

00:25:06.840 --> 00:25:06.850 align:start position:0%
will grow it over time please check it
 

00:25:06.850 --> 00:25:11.390 align:start position:0%
will grow it over time please check it
out<00:25:06.970><c> and</c><00:25:07.210><c> send</c><00:25:07.929><c> your</c><00:25:08.080><c> friends</c><00:25:09.239><c> thank</c><00:25:10.239><c> you</c>

00:25:11.390 --> 00:25:11.400 align:start position:0%
out and send your friends thank you
 

00:25:11.400 --> 00:25:22.450 align:start position:0%
out and send your friends thank you
[Applause]

00:25:22.450 --> 00:25:22.460 align:start position:0%
 
 

00:25:22.460 --> 00:25:24.520 align:start position:0%
 
you