WEBVTT Kind: captions Language: en 00:00:00.080 --> 00:00:17.870 align:start position:0% [Music] 00:00:17.870 --> 00:00:17.880 align:start position:0% 00:00:17.880 --> 00:00:21.390 align:start position:0% next<00:00:18.160> up<00:00:18.400> we<00:00:18.520> have<00:00:18.720> Zuko<00:00:19.240> Wilcox<00:00:19.880> from<00:00:20.400> zcash 00:00:21.390 --> 00:00:21.400 align:start position:0% next up we have Zuko Wilcox from zcash 00:00:21.400 --> 00:00:28.630 align:start position:0% next up we have Zuko Wilcox from zcash comeing<00:00:21.760> up 00:00:28.630 --> 00:00:28.640 align:start position:0% 00:00:28.640 --> 00:00:32.709 align:start position:0% Zuko<00:00:29.640> uh-oh<00:00:30.240> I<00:00:30.320> need<00:00:30.480> the<00:00:30.759> clicker<00:00:31.759> is<00:00:31.920> this 00:00:32.709 --> 00:00:32.719 align:start position:0% Zuko uh-oh I need the clicker is this 00:00:32.719 --> 00:00:36.229 align:start position:0% Zuko uh-oh I need the clicker is this it<00:00:33.719> I'll<00:00:33.879> try 00:00:36.229 --> 00:00:36.239 align:start position:0% 00:00:36.239 --> 00:00:38.470 align:start position:0% clicking<00:00:37.239> now<00:00:37.399> I<00:00:37.480> need<00:00:37.640> to<00:00:37.760> make<00:00:38.040> that<00:00:38.239> thing 00:00:38.470 --> 00:00:38.480 align:start position:0% clicking now I need to make that thing 00:00:38.480 --> 00:00:40.950 align:start position:0% clicking now I need to make that thing full<00:00:38.840> screen<00:00:39.200> and<00:00:39.440> display 00:00:40.950 --> 00:00:40.960 align:start position:0% full screen and display 00:00:40.960 --> 00:00:43.029 align:start position:0% full screen and display it 00:00:43.029 --> 00:00:43.039 align:start position:0% it 00:00:43.039 --> 00:00:46.750 align:start position:0% it aha 00:00:46.750 --> 00:00:46.760 align:start position:0% 00:00:46.760 --> 00:00:50.189 align:start position:0% thanks<00:00:47.760> okay<00:00:48.559> thank<00:00:48.719> you<00:00:48.879> all<00:00:49.079> for<00:00:49.320> being<00:00:49.680> here 00:00:50.189 --> 00:00:50.199 align:start position:0% thanks okay thank you all for being here 00:00:50.199 --> 00:00:51.510 align:start position:0% thanks okay thank you all for being here wow<00:00:50.480> what<00:00:50.600> a 00:00:51.510 --> 00:00:51.520 align:start position:0% wow what a 00:00:51.520 --> 00:00:53.590 align:start position:0% wow what a crowd 00:00:53.590 --> 00:00:53.600 align:start position:0% crowd 00:00:53.600 --> 00:00:56.709 align:start position:0% crowd um<00:00:54.600> I'm<00:00:54.760> really<00:00:54.960> happy<00:00:55.199> to<00:00:55.280> be<00:00:55.480> here<00:00:56.480> a<00:00:56.559> little 00:00:56.709 --> 00:00:56.719 align:start position:0% um I'm really happy to be here a little 00:00:56.719 --> 00:00:59.549 align:start position:0% um I'm really happy to be here a little bit<00:00:56.920> intimidated<00:00:57.520> by<00:00:57.640> all<00:00:57.800> you<00:00:58.199> folks<00:00:59.199> uh<00:00:59.399> my 00:00:59.549 --> 00:00:59.559 align:start position:0% bit intimidated by all you folks uh my 00:00:59.559 --> 00:01:01.750 align:start position:0% bit intimidated by all you folks uh my name<00:01:00.079> is<00:01:00.160> Zuko<00:01:00.760> and<00:01:00.879> I'm<00:01:01.039> the<00:01:01.160> founder<00:01:01.480> of<00:01:01.600> the 00:01:01.750 --> 00:01:01.760 align:start position:0% name is Zuko and I'm the founder of the 00:01:01.760 --> 00:01:03.229 align:start position:0% name is Zuko and I'm the founder of the zcash 00:01:03.229 --> 00:01:03.239 align:start position:0% zcash 00:01:03.239 --> 00:01:06.149 align:start position:0% zcash project<00:01:04.239> and<00:01:04.360> the<00:01:04.559> first<00:01:04.879> half<00:01:05.560> of<00:01:05.760> this<00:01:05.960> talk 00:01:06.149 --> 00:01:06.159 align:start position:0% project and the first half of this talk 00:01:06.159 --> 00:01:08.230 align:start position:0% project and the first half of this talk is<00:01:06.320> about<00:01:06.520> what<00:01:06.680> zcash<00:01:07.240> is<00:01:07.680> and<00:01:07.799> the<00:01:07.960> second 00:01:08.230 --> 00:01:08.240 align:start position:0% is about what zcash is and the second 00:01:08.240 --> 00:01:11.429 align:start position:0% is about what zcash is and the second half<00:01:08.439> is<00:01:08.600> about<00:01:08.840> ways<00:01:09.080> to<00:01:09.280> connect<00:01:09.600> zcash<00:01:10.119> with 00:01:11.429 --> 00:01:11.439 align:start position:0% half is about ways to connect zcash with 00:01:11.439 --> 00:01:14.350 align:start position:0% half is about ways to connect zcash with ethereum<00:01:12.439> zcash<00:01:13.119> first<00:01:13.320> of<00:01:13.479> all<00:01:13.759> it's<00:01:13.880> a 00:01:14.350 --> 00:01:14.360 align:start position:0% ethereum zcash first of all it's a 00:01:14.360 --> 00:01:16.710 align:start position:0% ethereum zcash first of all it's a science<00:01:15.360> discovery<00:01:16.000> that<00:01:16.200> has<00:01:16.360> been<00:01:16.520> made 00:01:16.710 --> 00:01:16.720 align:start position:0% science discovery that has been made 00:01:16.720 --> 00:01:19.350 align:start position:0% science discovery that has been made over<00:01:16.920> the<00:01:17.119> past<00:01:17.640> four<00:01:18.040> or<00:01:18.200> so<00:01:18.560> years<00:01:18.920> by<00:01:19.080> a<00:01:19.200> set 00:01:19.350 --> 00:01:19.360 align:start position:0% over the past four or so years by a set 00:01:19.360 --> 00:01:20.550 align:start position:0% over the past four or so years by a set of 00:01:20.550 --> 00:01:20.560 align:start position:0% of 00:01:20.560 --> 00:01:23.710 align:start position:0% of cryptographers<00:01:21.560> and<00:01:22.119> um<00:01:23.079> I'll<00:01:23.240> tell<00:01:23.400> you<00:01:23.560> what 00:01:23.710 --> 00:01:23.720 align:start position:0% cryptographers and um I'll tell you what 00:01:23.720 --> 00:01:26.550 align:start position:0% cryptographers and um I'll tell you what the<00:01:24.000> science<00:01:24.479> Discovery<00:01:24.920> is<00:01:25.320> in<00:01:25.479> a<00:01:26.200> few 00:01:26.550 --> 00:01:26.560 align:start position:0% the science Discovery is in a few 00:01:26.560 --> 00:01:29.630 align:start position:0% the science Discovery is in a few minutes<00:01:27.560> and<00:01:27.840> the<00:01:27.960> cryptographers<00:01:28.720> who<00:01:29.479> uh 00:01:29.630 --> 00:01:29.640 align:start position:0% minutes and the cryptographers who uh 00:01:29.640 --> 00:01:31.230 align:start position:0% minutes and the cryptographers who uh are<00:01:30.000> responsible<00:01:30.400> for<00:01:30.560> that<00:01:30.680> are<00:01:30.840> all<00:01:31.000> part<00:01:31.119> of 00:01:31.230 --> 00:01:31.240 align:start position:0% are responsible for that are all part of 00:01:31.240 --> 00:01:33.270 align:start position:0% are responsible for that are all part of the<00:01:31.320> zcash<00:01:31.799> team<00:01:32.079> now<00:01:32.640> and<00:01:32.799> second<00:01:33.040> of<00:01:33.159> all 00:01:33.270 --> 00:01:33.280 align:start position:0% the zcash team now and second of all 00:01:33.280 --> 00:01:35.190 align:start position:0% the zcash team now and second of all it's<00:01:33.399> a<00:01:33.560> technology<00:01:34.159> that<00:01:34.280> the<00:01:34.399> zcash<00:01:34.920> team 00:01:35.190 --> 00:01:35.200 align:start position:0% it's a technology that the zcash team 00:01:35.200 --> 00:01:38.109 align:start position:0% it's a technology that the zcash team has<00:01:35.399> been<00:01:35.880> implementing<00:01:36.560> and<00:01:36.799> making<00:01:37.560> um 00:01:38.109 --> 00:01:38.119 align:start position:0% has been implementing and making um 00:01:38.119 --> 00:01:41.429 align:start position:0% has been implementing and making um efficient<00:01:38.640> and<00:01:39.439> useful<00:01:40.200> and 00:01:41.429 --> 00:01:41.439 align:start position:0% efficient and useful and 00:01:41.439 --> 00:01:44.109 align:start position:0% efficient and useful and practical<00:01:42.439> next<00:01:42.680> it's<00:01:42.840> a<00:01:43.000> blockchain<00:01:44.000> and 00:01:44.109 --> 00:01:44.119 align:start position:0% practical next it's a blockchain and 00:01:44.119 --> 00:01:46.670 align:start position:0% practical next it's a blockchain and there<00:01:44.200> is<00:01:44.439> currently<00:01:44.880> a<00:01:45.040> test<00:01:45.320> net<00:01:45.680> blockchain 00:01:46.670 --> 00:01:46.680 align:start position:0% there is currently a test net blockchain 00:01:46.680 --> 00:01:49.310 align:start position:0% there is currently a test net blockchain which<00:01:46.799> you<00:01:46.920> can<00:01:47.079> totally<00:01:47.479> go<00:01:48.479> uh<00:01:48.640> attack<00:01:49.119> and 00:01:49.310 --> 00:01:49.320 align:start position:0% which you can totally go uh attack and 00:01:49.320 --> 00:01:52.190 align:start position:0% which you can totally go uh attack and please<00:01:49.600> explain<00:01:49.960> how<00:01:50.079> you<00:01:50.200> did<00:01:50.399> so<00:01:50.880> thanks<00:01:51.840> um 00:01:52.190 --> 00:01:52.200 align:start position:0% please explain how you did so thanks um 00:01:52.200 --> 00:01:54.950 align:start position:0% please explain how you did so thanks um and<00:01:52.320> then<00:01:52.600> on<00:01:52.799> October<00:01:53.159> 28th<00:01:53.880> it'll<00:01:54.159> be<00:01:54.399> a<00:01:54.560> real 00:01:54.950 --> 00:01:54.960 align:start position:0% and then on October 28th it'll be a real 00:01:54.960 --> 00:01:57.069 align:start position:0% and then on October 28th it'll be a real main<00:01:55.320> net<00:01:55.719> like<00:01:55.880> permanent<00:01:56.399> blockchain<00:01:57.000> with 00:01:57.069 --> 00:01:57.079 align:start position:0% main net like permanent blockchain with 00:01:57.079 --> 00:01:58.709 align:start position:0% main net like permanent blockchain with a<00:01:57.200> store<00:01:57.439> of<00:01:57.600> value<00:01:57.880> on<00:01:58.000> it<00:01:58.159> so<00:01:58.320> it'll<00:01:58.560> be<00:01:58.640> a 00:01:58.709 --> 00:01:58.719 align:start position:0% a store of value on it so it'll be a 00:01:58.719 --> 00:02:01.350 align:start position:0% a store of value on it so it'll be a cryptocurrency 00:02:01.350 --> 00:02:01.360 align:start position:0% cryptocurrency 00:02:01.360 --> 00:02:04.469 align:start position:0% cryptocurrency uh<00:02:01.719> the<00:02:01.840> zcash<00:02:02.399> cryptocurrency<00:02:03.399> is<00:02:04.320> uh 00:02:04.469 --> 00:02:04.479 align:start position:0% uh the zcash cryptocurrency is uh 00:02:04.479 --> 00:02:06.670 align:start position:0% uh the zcash cryptocurrency is uh intended<00:02:04.920> to<00:02:05.079> be<00:02:05.280> useful<00:02:05.880> for<00:02:06.200> as<00:02:06.399> like<00:02:06.560> a 00:02:06.670 --> 00:02:06.680 align:start position:0% intended to be useful for as like a 00:02:06.680 --> 00:02:08.109 align:start position:0% intended to be useful for as like a store<00:02:06.880> of<00:02:07.000> value<00:02:07.200> and<00:02:07.280> a<00:02:07.360> medium<00:02:07.600> of<00:02:07.719> exchange 00:02:08.109 --> 00:02:08.119 align:start position:0% store of value and a medium of exchange 00:02:08.119 --> 00:02:09.430 align:start position:0% store of value and a medium of exchange starting<00:02:08.399> on<00:02:08.520> October 00:02:09.430 --> 00:02:09.440 align:start position:0% starting on October 00:02:09.440 --> 00:02:13.710 align:start position:0% starting on October 28<00:02:10.440> and<00:02:10.759> then<00:02:11.640> um<00:02:12.640> lastly<00:02:13.000> it's<00:02:13.120> a<00:02:13.239> community 00:02:13.710 --> 00:02:13.720 align:start position:0% 28 and then um lastly it's a community 00:02:13.720 --> 00:02:15.830 align:start position:0% 28 and then um lastly it's a community because<00:02:13.840> there's<00:02:14.040> a<00:02:14.200> whole<00:02:14.599> bunch<00:02:14.840> of<00:02:15.080> people 00:02:15.830 --> 00:02:15.840 align:start position:0% because there's a whole bunch of people 00:02:15.840 --> 00:02:18.830 align:start position:0% because there's a whole bunch of people um<00:02:16.160> spread<00:02:16.480> out<00:02:16.720> around<00:02:16.959> the<00:02:17.120> world<00:02:18.000> who<00:02:18.519> like 00:02:18.830 --> 00:02:18.840 align:start position:0% um spread out around the world who like 00:02:18.840 --> 00:02:21.350 align:start position:0% um spread out around the world who like me<00:02:19.400> think<00:02:19.760> that<00:02:20.040> privacy<00:02:20.480> is<00:02:20.599> a<00:02:20.840> really 00:02:21.350 --> 00:02:21.360 align:start position:0% me think that privacy is a really 00:02:21.360 --> 00:02:24.390 align:start position:0% me think that privacy is a really critical<00:02:22.360> value<00:02:23.000> in<00:02:23.200> our<00:02:23.480> society<00:02:24.080> and<00:02:24.239> that 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to establish<00:02:39.879> uh<00:02:40.000> more<00:02:40.680> contacts<00:02:41.159> between<00:02:41.360> the 00:02:41.430 --> 00:02:41.440 align:start position:0% establish uh more contacts between the 00:02:41.440 --> 00:02:44.350 align:start position:0% establish uh more contacts between the zcash<00:02:41.879> community<00:02:42.239> and<00:02:42.360> the<00:02:42.440> ethereum 00:02:44.350 --> 00:02:44.360 align:start position:0% zcash community and the ethereum 00:02:44.360 --> 00:02:46.710 align:start position:0% zcash community and the ethereum community<00:02:45.360> okay 00:02:46.710 --> 00:02:46.720 align:start position:0% community okay 00:02:46.720 --> 00:02:51.070 align:start position:0% community okay so<00:02:47.720> what<00:02:48.640> is<00:02:49.640> cool<00:02:50.159> about<00:02:50.440> blockchain 00:02:51.070 --> 00:02:51.080 align:start position:0% so what is cool about blockchain 00:02:51.080 --> 00:02:54.750 align:start position:0% so what is cool about blockchain technology<00:02:51.959> is<00:02:52.800> uh<00:02:53.280> the<00:02:53.920> a<00:02:54.120> pinned<00:02:54.440> only 00:02:54.750 --> 00:02:54.760 align:start position:0% technology is uh the a pinned only 00:02:54.760 --> 00:02:57.309 align:start position:0% technology is uh the a pinned only property<00:02:55.239> which<00:02:55.680> we<00:02:55.800> call<00:02:55.959> a<00:02:56.159> mutability<00:02:57.159> and 00:02:57.309 --> 00:02:57.319 align:start position:0% property which we call a mutability and 00:02:57.319 --> 00:03:01.149 align:start position:0% property which we call a mutability and the<00:02:57.440> single<00:02:57.760> source<00:02:58.040> of<00:02:58.879> Truth<00:03:00.000> uh 00:03:01.149 --> 00:03:01.159 align:start position:0% the single source of Truth uh 00:03:01.159 --> 00:03:03.949 align:start position:0% the single source of Truth uh effect<00:03:02.159> and<00:03:03.000> you<00:03:03.159> all<00:03:03.360> appreciate<00:03:03.799> this 00:03:03.949 --> 00:03:03.959 align:start position:0% effect and you all appreciate this 00:03:03.959 --> 00:03:06.470 align:start position:0% effect and you all appreciate this pretty<00:03:04.159> well<00:03:05.000> um<00:03:05.400> but<00:03:05.560> this<00:03:05.680> is<00:03:05.840> really<00:03:06.080> new 00:03:06.470 --> 00:03:06.480 align:start position:0% pretty well um but this is really new 00:03:06.480 --> 00:03:09.390 align:start position:0% pretty well um but this is really new this<00:03:06.599> was<00:03:06.760> just<00:03:06.920> recently<00:03:07.840> discovered<00:03:08.519> and 00:03:09.390 --> 00:03:09.400 align:start position:0% this was just recently discovered and 00:03:09.400 --> 00:03:10.789 align:start position:0% this was just recently discovered and we're<00:03:09.680> only<00:03:09.920> at<00:03:10.040> the<00:03:10.120> very<00:03:10.319> beginnings<00:03:10.680> of 00:03:10.789 --> 00:03:10.799 align:start position:0% we're only at the very beginnings of 00:03:10.799 --> 00:03:12.229 align:start position:0% we're only at the very beginnings of figuring<00:03:11.080> out<00:03:11.280> what<00:03:11.400> you<00:03:11.480> can<00:03:11.640> do<00:03:11.879> with<00:03:12.040> those 00:03:12.229 --> 00:03:12.239 align:start position:0% figuring out what you can do with those 00:03:12.239 --> 00:03:15.550 align:start position:0% figuring out what you can do with those two<00:03:13.000> properties<00:03:14.000> um<00:03:14.239> and<00:03:14.480> this<00:03:15.000> conference<00:03:15.400> is 00:03:15.550 --> 00:03:15.560 align:start position:0% two properties um and this conference is 00:03:15.560 --> 00:03:17.630 align:start position:0% two properties um and this conference is really<00:03:15.840> The<00:03:15.959> Cutting<00:03:16.280> Edge<00:03:16.840> of<00:03:17.120> experimenting 00:03:17.630 --> 00:03:17.640 align:start position:0% really The Cutting Edge of experimenting 00:03:17.640 --> 00:03:20.430 align:start position:0% really The Cutting Edge of experimenting with<00:03:17.799> what<00:03:17.920> you<00:03:18.000> can<00:03:18.159> do<00:03:18.560> given<00:03:19.280> uh<00:03:20.080> app<00:03:20.200> pinned 00:03:20.430 --> 00:03:20.440 align:start position:0% with what you can do given uh app pinned 00:03:20.440 --> 00:03:21.789 align:start position:0% with what you can do given uh app pinned only<00:03:20.680> in 00:03:21.789 --> 00:03:21.799 align:start position:0% only in 00:03:21.799 --> 00:03:24.350 align:start position:0% only in canonicity<00:03:22.799> and<00:03:22.920> then<00:03:23.159> the<00:03:23.360> encryption 00:03:24.350 --> 00:03:24.360 align:start position:0% canonicity and then the encryption 00:03:24.360 --> 00:03:27.270 align:start position:0% canonicity and then the encryption modern<00:03:24.720> day<00:03:24.879> encryption<00:03:25.360> is<00:03:25.599> like<00:03:26.000> 40<00:03:26.680> or<00:03:27.000> so 00:03:27.270 --> 00:03:27.280 align:start position:0% modern day encryption is like 40 or so 00:03:27.280 --> 00:03:29.309 align:start position:0% modern day encryption is like 40 or so years<00:03:27.599> old<00:03:28.599> uh<00:03:28.720> and<00:03:28.799> so<00:03:28.959> it's<00:03:29.120> better 00:03:29.309 --> 00:03:29.319 align:start position:0% years old uh and so it's better 00:03:29.319 --> 00:03:31.309 align:start position:0% years old uh and so it's better understood<00:03:29.920> and<00:03:30.360> pretty<00:03:30.560> much<00:03:30.720> everyone 00:03:31.309 --> 00:03:31.319 align:start position:0% understood and pretty much everyone 00:03:31.319 --> 00:03:32.789 align:start position:0% understood and pretty much everyone understands<00:03:31.599> the<00:03:31.840> Privacy<00:03:32.360> property<00:03:32.680> that 00:03:32.789 --> 00:03:32.799 align:start position:0% understands the Privacy property that 00:03:32.799 --> 00:03:34.470 align:start position:0% understands the Privacy property that encryption<00:03:33.280> gives<00:03:33.480> you<00:03:34.000> which<00:03:34.120> is<00:03:34.239> that<00:03:34.360> if 00:03:34.470 --> 00:03:34.480 align:start position:0% encryption gives you which is that if 00:03:34.480 --> 00:03:36.390 align:start position:0% encryption gives you which is that if two<00:03:34.640> people<00:03:34.840> want<00:03:34.959> to<00:03:35.239> communicate<00:03:36.239> and 00:03:36.390 --> 00:03:36.400 align:start position:0% two people want to communicate and 00:03:36.400 --> 00:03:39.589 align:start position:0% two people want to communicate and there's<00:03:36.680> some<00:03:37.680> uh<00:03:38.080> third<00:03:38.519> party<00:03:39.040> who<00:03:39.239> has<00:03:39.400> some 00:03:39.589 --> 00:03:39.599 align:start position:0% there's some uh third party who has some 00:03:39.599 --> 00:03:41.229 align:start position:0% there's some uh third party who has some position<00:03:39.879> of<00:03:40.120> Power<00:03:40.480> with<00:03:40.640> respect<00:03:40.920> to<00:03:41.080> those 00:03:41.229 --> 00:03:41.239 align:start position:0% position of Power with respect to those 00:03:41.239 --> 00:03:43.470 align:start position:0% position of Power with respect to those two<00:03:41.480> people<00:03:42.159> the<00:03:42.280> two<00:03:42.439> can<00:03:42.560> use<00:03:42.799> encryption<00:03:43.360> in 00:03:43.470 --> 00:03:43.480 align:start position:0% two people the two can use encryption in 00:03:43.480 --> 00:03:46.390 align:start position:0% two people the two can use encryption in order<00:03:43.720> to<00:03:43.920> prevent<00:03:44.519> the<00:03:44.920> the<00:03:45.280> other<00:03:46.000> third 00:03:46.390 --> 00:03:46.400 align:start position:0% order to prevent the the other third 00:03:46.400 --> 00:03:49.070 align:start position:0% order to prevent the the other third person<00:03:46.680> in<00:03:46.799> the<00:03:46.920> middle<00:03:47.720> from<00:03:48.080> spying<00:03:48.560> on<00:03:48.840> or 00:03:49.070 --> 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mathematics is that 00:04:04.519 --> 00:04:06.390 align:start position:0% just an outcome of mathematics is that if<00:04:04.599> you're<00:04:04.799> using<00:04:05.159> encryption<00:04:05.720> to<00:04:05.920> control 00:04:06.390 --> 00:04:06.400 align:start position:0% if you're using encryption to control 00:04:06.400 --> 00:04:09.350 align:start position:0% if you're using encryption to control read<00:04:06.920> access<00:04:07.400> to<00:04:07.599> your<00:04:07.920> data<00:04:08.680> then<00:04:08.879> that<00:04:09.000> means 00:04:09.350 --> 00:04:09.360 align:start position:0% read access to your data then that means 00:04:09.360 --> 00:04:13.149 align:start position:0% read access to your data then that means there's<00:04:09.640> some<00:04:10.480> secret<00:04:11.000> some<00:04:11.239> decryption<00:04:12.159> key 00:04:13.149 --> 00:04:13.159 align:start position:0% there's some secret some decryption key 00:04:13.159 --> 00:04:16.670 align:start position:0% there's some secret some decryption key uh<00:04:13.480> that<00:04:13.599> is<00:04:14.519> knowledge<00:04:15.280> of<00:04:15.599> that<00:04:15.959> secret<00:04:16.440> is 00:04:16.670 --> 00:04:16.680 align:start position:0% uh that is knowledge of that secret is 00:04:16.680 --> 00:04:18.469 align:start position:0% uh that is knowledge of that secret is necessary<00:04:17.120> and<00:04:17.359> sufficient<00:04:17.799> to<00:04:17.959> get<00:04:18.120> read 00:04:18.469 --> 00:04:18.479 align:start position:0% necessary and sufficient to get read 00:04:18.479 --> 00:04:21.110 align:start position:0% necessary and sufficient to get read access<00:04:18.799> to<00:04:18.919> the<00:04:19.079> data<00:04:20.040> right<00:04:20.759> but<00:04:20.959> that 00:04:21.110 --> 00:04:21.120 align:start position:0% access to the data right but that 00:04:21.120 --> 00:04:23.070 align:start position:0% access to the data right but that implies<00:04:21.639> that<00:04:21.799> if<00:04:21.880> you<00:04:22.000> know<00:04:22.280> that<00:04:22.440> secret<00:04:22.880> you 00:04:23.070 --> 00:04:23.080 align:start position:0% implies that if you know that secret you 00:04:23.080 --> 00:04:26.189 align:start position:0% implies that if you know that secret you could<00:04:23.840> choose<00:04:24.600> to<00:04:24.919> share<00:04:25.400> that<00:04:25.680> decryption 00:04:26.189 --> 00:04:26.199 align:start position:0% could choose to share that decryption 00:04:26.199 --> 00:04:27.870 align:start position:0% could choose to share that decryption key<00:04:26.440> with<00:04:26.600> someone<00:04:26.880> else<00:04:27.120> and<00:04:27.280> if<00:04:27.360> you<00:04:27.479> did<00:04:27.639> so 00:04:27.870 --> 00:04:27.880 align:start position:0% key with someone else and if you did so 00:04:27.880 --> 00:04:29.350 align:start position:0% key with someone else and if you did so that<00:04:28.000> would<00:04:28.160> give<00:04:28.320> them<00:04:28.520> the<00:04:28.680> ability<00:04:29.039> to<00:04:29.160> see 00:04:29.350 --> 00:04:29.360 align:start position:0% that would give them the ability to see 00:04:29.360 --> 00:04:31.110 align:start position:0% that would give them the ability to see that<00:04:29.479> data 00:04:31.110 --> 00:04:31.120 align:start position:0% that data 00:04:31.120 --> 00:04:35.270 align:start position:0% that data so<00:04:32.120> uh<00:04:32.680> zcash<00:04:33.440> is<00:04:33.600> the<00:04:33.800> first<00:04:34.120> time<00:04:34.479> we've<00:04:34.800> had 00:04:35.270 --> 00:04:35.280 align:start position:0% so uh zcash is the first time we've had 00:04:35.280 --> 00:04:37.909 align:start position:0% so uh zcash is the first time we've had all<00:04:35.479> four<00:04:35.720> of<00:04:35.919> these<00:04:36.160> properties<00:04:36.919> together 00:04:37.909 --> 00:04:37.919 align:start position:0% all four of these properties together 00:04:37.919 --> 00:04:40.710 align:start position:0% all four of these properties together combination<00:04:38.440> of<00:04:38.680> the<00:04:39.160> blockchain<00:04:39.800> and<00:04:40.000> the 00:04:40.710 --> 00:04:40.720 align:start position:0% combination of the blockchain and the 00:04:40.720 --> 00:04:45.310 align:start position:0% combination of the blockchain and the encryption<00:04:41.720> uh<00:04:41.840> and<00:04:42.000> that<00:04:42.120> means 00:04:45.310 --> 00:04:45.320 align:start position:0% 00:04:45.320 --> 00:04:48.749 align:start position:0% so<00:04:46.320> so<00:04:47.000> that<00:04:47.120> means<00:04:47.360> it's<00:04:47.639> in<00:04:47.759> order<00:04:47.960> to<00:04:48.199> really 00:04:48.749 --> 00:04:48.759 align:start position:0% so so that means it's in order to really 00:04:48.759 --> 00:04:50.230 align:start position:0% so so that means it's in order to really understand<00:04:48.960> what<00:04:49.080> you<00:04:49.199> might<00:04:49.360> be<00:04:49.440> able<00:04:49.639> to<00:04:49.840> do 00:04:50.230 --> 00:04:50.240 align:start position:0% understand what you might be able to do 00:04:50.240 --> 00:04:52.990 align:start position:0% understand what you might be able to do with<00:04:50.400> zcash<00:04:51.080> what<00:04:51.199> kind<00:04:51.320> of<00:04:51.479> like<00:04:52.440> products<00:04:52.759> or 00:04:52.990 --> 00:04:53.000 align:start position:0% with zcash what kind of like products or 00:04:53.000 --> 00:04:54.670 align:start position:0% with zcash what kind of like products or programs<00:04:53.360> you<00:04:53.479> could<00:04:53.680> build<00:04:53.880> on<00:04:54.080> top<00:04:54.199> of<00:04:54.320> it 00:04:54.670 --> 00:04:54.680 align:start position:0% programs you could build on top of it 00:04:54.680 --> 00:04:56.629 align:start position:0% programs you could build on top of it you've<00:04:54.919> got<00:04:55.080> to<00:04:55.600> appreciate<00:04:56.080> the<00:04:56.240> selector 00:04:56.629 --> 00:04:56.639 align:start position:0% you've got to appreciate the selector 00:04:56.639 --> 00:05:00.070 align:start position:0% you've got to appreciate the selector disclosure<00:04:57.160> part<00:04:57.560> because<00:04:58.560> people<00:04:58.960> often<00:04:59.759> who 00:05:00.070 --> 00:05:00.080 align:start position:0% disclosure part because people often who 00:05:00.080 --> 00:05:02.590 align:start position:0% disclosure part because people often who who<00:05:00.199> are<00:05:00.919> uh<00:05:01.160> more<00:05:01.479> familiar<00:05:01.880> with<00:05:02.000> the 00:05:02.590 --> 00:05:02.600 align:start position:0% who are uh more familiar with the 00:05:02.600 --> 00:05:05.830 align:start position:0% who are uh more familiar with the Privacy<00:05:03.600> consequence<00:05:04.520> of<00:05:04.720> encryption<00:05:05.720> they 00:05:05.830 --> 00:05:05.840 align:start position:0% Privacy consequence of encryption they 00:05:05.840 --> 00:05:07.390 align:start position:0% Privacy consequence of encryption they think<00:05:06.039> of<00:05:06.160> zcash<00:05:06.680> as<00:05:06.800> being<00:05:07.039> like<00:05:07.199> the 00:05:07.390 --> 00:05:07.400 align:start position:0% think of zcash as being like the 00:05:07.400 --> 00:05:09.830 align:start position:0% think of zcash as being like the opposite<00:05:08.199> of<00:05:08.639> Bitcoin<00:05:09.080> and<00:05:09.240> ethereum<00:05:09.720> where 00:05:09.830 --> 00:05:09.840 align:start position:0% opposite of Bitcoin and ethereum where 00:05:09.840 --> 00:05:11.590 align:start position:0% opposite of Bitcoin and ethereum where Bitcoin<00:05:10.160> and<00:05:10.280> ethereum<00:05:10.639> are<00:05:10.759> all<00:05:10.960> transparent 00:05:11.590 --> 00:05:11.600 align:start position:0% Bitcoin and ethereum are all transparent 00:05:11.600 --> 00:05:13.629 align:start position:0% Bitcoin and ethereum are all transparent all<00:05:11.759> the<00:05:11.919> time<00:05:12.600> and<00:05:12.680> so<00:05:12.840> they<00:05:12.960> think<00:05:13.080> of<00:05:13.199> zcash 00:05:13.629 --> 00:05:13.639 align:start position:0% all the time and so they think of zcash 00:05:13.639 --> 00:05:15.350 align:start position:0% all the time and so they think of zcash as<00:05:13.759> being<00:05:14.000> like<00:05:14.160> all<00:05:14.440> opaque<00:05:14.840> all<00:05:14.960> the<00:05:15.120> time 00:05:15.350 --> 00:05:15.360 align:start position:0% as being like all opaque all the time 00:05:15.360 --> 00:05:16.830 align:start position:0% as being like all opaque all the time it's<00:05:15.520> all<00:05:15.759> dark<00:05:16.039> all<00:05:16.199> the<00:05:16.320> time<00:05:16.560> but<00:05:16.720> that's 00:05:16.830 --> 00:05:16.840 align:start position:0% it's all dark all the time but that's 00:05:16.840 --> 00:05:19.950 align:start position:0% it's all dark all the time but that's not<00:05:17.000> true<00:05:17.240> at<00:05:17.440> all<00:05:18.440> uh<00:05:18.960> with<00:05:19.160> zcash<00:05:19.639> you<00:05:19.720> can 00:05:19.950 --> 00:05:19.960 align:start position:0% not true at all uh with zcash you can 00:05:19.960 --> 00:05:23.510 align:start position:0% not true at all uh with zcash you can append<00:05:20.759> data<00:05:21.759> to<00:05:22.000> the<00:05:22.240> blockchain<00:05:23.240> and<00:05:23.400> that 00:05:23.510 --> 00:05:23.520 align:start position:0% append data to the blockchain and that 00:05:23.520 --> 00:05:26.070 align:start position:0% append data to the blockchain and that data<00:05:23.759> is<00:05:24.039> encrypted<00:05:25.039> so<00:05:25.400> that<00:05:25.600> so<00:05:25.880> by 00:05:26.070 --> 00:05:26.080 align:start position:0% data is encrypted so that so by 00:05:26.080 --> 00:05:27.150 align:start position:0% data is encrypted so that so by appending<00:05:26.440> it<00:05:26.520> to<00:05:26.600> the<00:05:26.680> blockchain<00:05:27.039> you're 00:05:27.150 --> 00:05:27.160 align:start position:0% appending it to the blockchain you're 00:05:27.160 --> 00:05:28.670 align:start position:0% appending it to the blockchain you're not<00:05:27.319> revealing<00:05:27.720> it<00:05:27.840> to<00:05:28.160> everyone<00:05:28.440> in<00:05:28.560> the 00:05:28.670 --> 00:05:28.680 align:start position:0% not revealing it to everyone in the 00:05:28.680 --> 00:05:32.390 align:start position:0% not revealing it to everyone in the world<00:05:30.000> but<00:05:30.400> if<00:05:30.600> you<00:05:31.120> selectively<00:05:31.919> reveal<00:05:32.280> it 00:05:32.390 --> 00:05:32.400 align:start position:0% world but if you selectively reveal it 00:05:32.400 --> 00:05:34.230 align:start position:0% world but if you selectively reveal it to<00:05:32.560> a<00:05:32.680> certain<00:05:33.039> person<00:05:33.440> that<00:05:33.600> person<00:05:33.880> gets<00:05:34.080> to 00:05:34.230 --> 00:05:34.240 align:start position:0% to a certain person that person gets to 00:05:34.240 --> 00:05:36.710 align:start position:0% to a certain person that person gets to see<00:05:34.600> that<00:05:34.800> data<00:05:35.479> in<00:05:35.759> the<00:05:36.000> single<00:05:36.240> source<00:05:36.520> of 00:05:36.710 --> 00:05:36.720 align:start position:0% see that data in the single source of 00:05:36.720 --> 00:05:39.629 align:start position:0% see that data in the single source of Truth<00:05:37.680> in<00:05:37.800> the<00:05:37.919> canonical<00:05:38.360> blockchain<00:05:39.199> so<00:05:39.400> you 00:05:39.629 --> 00:05:39.639 align:start position:0% Truth in the canonical blockchain so you 00:05:39.639 --> 00:05:41.870 align:start position:0% Truth in the canonical blockchain so you can't<00:05:40.400> you<00:05:40.600> get<00:05:40.800> you<00:05:40.919> get<00:05:41.039> the<00:05:41.199> append<00:05:41.520> only<00:05:41.720> in 00:05:41.870 --> 00:05:41.880 align:start position:0% can't you get you get the append only in 00:05:41.880 --> 00:05:43.590 align:start position:0% can't you get you get the append only in canonicity<00:05:42.479> properties<00:05:42.880> you<00:05:43.039> can't<00:05:43.319> change 00:05:43.590 --> 00:05:43.600 align:start position:0% canonicity properties you can't change 00:05:43.600 --> 00:05:45.390 align:start position:0% canonicity properties you can't change your<00:05:43.759> story<00:05:44.039> later<00:05:44.479> and<00:05:44.600> you<00:05:44.759> can't<00:05:45.000> tell<00:05:45.240> one 00:05:45.390 --> 00:05:45.400 align:start position:0% your story later and you can't tell one 00:05:45.400 --> 00:05:47.870 align:start position:0% your story later and you can't tell one story<00:05:45.759> to<00:05:46.720> one<00:05:47.000> person<00:05:47.360> and<00:05:47.520> a<00:05:47.639> different 00:05:47.870 --> 00:05:47.880 align:start position:0% story to one person and a different 00:05:47.880 --> 00:05:49.749 align:start position:0% story to one person and a different story<00:05:48.160> to<00:05:48.280> a<00:05:48.400> different<00:05:48.720> person<00:05:49.400> but<00:05:49.520> at<00:05:49.639> the 00:05:49.749 --> 00:05:49.759 align:start position:0% story to a different person but at the 00:05:49.759 --> 00:05:53.070 align:start position:0% story to a different person but at the same<00:05:50.080> time<00:05:50.360> you<00:05:50.600> have<00:05:51.000> control<00:05:51.680> over<00:05:52.360> who<00:05:52.560> sees 00:05:53.070 --> 00:05:53.080 align:start position:0% same time you have control over who sees 00:05:53.080 --> 00:05:55.749 align:start position:0% same time you have control over who sees the<00:05:53.240> data<00:05:53.560> so<00:05:54.160> that's<00:05:54.520> really<00:05:54.840> interesting 00:05:55.749 --> 00:05:55.759 align:start position:0% the data so that's really interesting 00:05:55.759 --> 00:05:59.270 align:start position:0% the data so that's really interesting and<00:05:56.759> we're<00:05:57.039> even<00:05:57.280> more<00:05:57.600> at<00:05:57.720> the<00:05:57.880> beginnings<00:05:58.880> of 00:05:59.270 --> 00:05:59.280 align:start position:0% and we're even more at the beginnings of 00:05:59.280 --> 00:06:00.469 align:start position:0% and we're even more at the beginnings of experim<00:05:59.639> experimenting<00:06:00.080> with<00:06:00.240> what<00:06:00.360> you 00:06:00.469 --> 00:06:00.479 align:start position:0% experim experimenting with what you 00:06:00.479 --> 00:06:03.110 align:start position:0% experim experimenting with what you could<00:06:00.759> do<00:06:01.520> by<00:06:01.759> leveraging<00:06:02.319> these<00:06:02.520> properties 00:06:03.110 --> 00:06:03.120 align:start position:0% could do by leveraging these properties 00:06:03.120 --> 00:06:04.469 align:start position:0% could do by leveraging these properties I<00:06:03.240> really<00:06:03.400> have<00:06:03.560> no<00:06:03.720> idea<00:06:04.000> I<00:06:04.080> still<00:06:04.240> haven't 00:06:04.469 --> 00:06:04.479 align:start position:0% I really have no idea I still haven't 00:06:04.479 --> 00:06:05.909 align:start position:0% I really have no idea I still haven't figured<00:06:04.720> out<00:06:04.880> what<00:06:05.000> we're<00:06:05.120> going<00:06:05.199> to<00:06:05.360> do<00:06:05.680> with 00:06:05.909 --> 00:06:05.919 align:start position:0% figured out what we're going to do with 00:06:05.919 --> 00:06:11.430 align:start position:0% figured out what we're going to do with Bitcoin<00:06:06.280> and<00:06:06.440> ethereum<00:06:06.960> much<00:06:07.160> less<00:06:07.360> with<00:06:07.720> this 00:06:11.430 --> 00:06:11.440 align:start position:0% 00:06:11.440 --> 00:06:13.990 align:start position:0% um<00:06:12.440> okay<00:06:12.599> but<00:06:12.759> hold<00:06:12.919> on<00:06:13.160> back<00:06:13.319> up<00:06:13.599> why<00:06:13.720> would<00:06:13.880> I 00:06:13.990 --> 00:06:14.000 align:start position:0% um okay but hold on back up why would I 00:06:14.000 --> 00:06:18.550 align:start position:0% um okay but hold on back up why would I do<00:06:14.400> this<00:06:15.400> uh<00:06:15.919> why<00:06:16.120> why<00:06:16.199> are<00:06:16.400> we<00:06:16.599> doing<00:06:17.039> this<00:06:17.759> so 00:06:18.550 --> 00:06:18.560 align:start position:0% do this uh why why are we doing this so 00:06:18.560 --> 00:06:21.670 align:start position:0% do this uh why why are we doing this so I<00:06:18.800> think<00:06:19.440> that<00:06:19.880> privacy<00:06:20.599> is<00:06:20.720> a<00:06:20.919> fundamental 00:06:21.670 --> 00:06:21.680 align:start position:0% I think that privacy is a fundamental 00:06:21.680 --> 00:06:25.270 align:start position:0% I think that privacy is a fundamental human<00:06:22.160> right<00:06:23.160> and<00:06:23.319> I<00:06:23.440> think<00:06:23.759> that<00:06:24.080> privacy<00:06:24.680> is 00:06:25.270 --> 00:06:25.280 align:start position:0% human right and I think that privacy is 00:06:25.280 --> 00:06:28.150 align:start position:0% human right and I think that privacy is necessary<00:06:26.280> for<00:06:26.520> people<00:06:26.759> to<00:06:27.080> exercise<00:06:27.840> their 00:06:28.150 --> 00:06:28.160 align:start position:0% necessary for people to exercise their 00:06:28.160 --> 00:06:31.390 align:start position:0% necessary for people to exercise their unique<00:06:28.919> moral<00:06:29.280> choice 00:06:31.390 --> 00:06:31.400 align:start position:0% unique moral choice 00:06:31.400 --> 00:06:35.670 align:start position:0% unique moral choice es<00:06:32.759> um<00:06:33.759> and<00:06:33.919> I<00:06:34.199> also<00:06:34.560> think<00:06:34.759> that<00:06:34.919> privacy<00:06:35.319> is<00:06:35.400> a 00:06:35.670 --> 00:06:35.680 align:start position:0% es um and I also think that privacy is a 00:06:35.680 --> 00:06:38.270 align:start position:0% es um and I also think that privacy is a social<00:06:36.199> value<00:06:36.919> I<00:06:37.080> think<00:06:37.400> that<00:06:37.639> the<00:06:37.840> kind<00:06:38.000> of 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evolved around is uh healthy 00:06:45.880 --> 00:06:47.990 align:start position:0% societies evolved around is uh healthy and<00:06:46.000> that<00:06:46.080> it<00:06:46.319> strengthens<00:06:47.319> and<00:06:47.520> protects 00:06:47.990 --> 00:06:48.000 align:start position:0% and that it strengthens and protects 00:06:48.000 --> 00:06:49.189 align:start position:0% and that it strengthens and protects societies<00:06:48.440> and<00:06:48.560> it<00:06:48.680> makes<00:06:48.880> them<00:06:49.000> more 00:06:49.189 --> 00:06:49.199 align:start position:0% societies and it makes them more 00:06:49.199 --> 00:06:51.309 align:start position:0% societies and it makes them more resilient<00:06:49.639> and<00:06:49.759> more 00:06:51.309 --> 00:06:51.319 align:start position:0% resilient and more 00:06:51.319 --> 00:06:53.990 align:start position:0% resilient and more Humane<00:06:52.319> uh<00:06:52.440> but<00:06:52.599> I<00:06:52.759> also<00:06:53.080> have<00:06:53.520> discovered 00:06:53.990 --> 00:06:54.000 align:start position:0% Humane uh but I also have discovered 00:06:54.000 --> 00:06:56.110 align:start position:0% Humane uh but I also have discovered that<00:06:54.199> privacy<00:06:54.560> is<00:06:54.680> a<00:06:54.840> business<00:06:55.240> requirement 00:06:56.110 --> 00:06:56.120 align:start position:0% that privacy is a business requirement 00:06:56.120 --> 00:06:58.070 align:start position:0% that privacy is a business requirement so<00:06:56.319> I<00:06:56.440> started<00:06:57.000> I<00:06:57.120> decided<00:06:57.479> to<00:06:57.599> devote<00:06:57.919> years 00:06:58.070 --> 00:06:58.080 align:start position:0% so I started I decided to devote years 00:06:58.080 --> 00:07:00.150 align:start position:0% so I started I decided to devote years of<00:06:58.240> my<00:06:58.400> life<00:06:58.520> to<00:06:58.720> this<00:06:58.919> project<00:06:59.759> because<00:07:00.039> I 00:07:00.150 --> 00:07:00.160 align:start position:0% of my life to this project because I 00:07:00.160 --> 00:07:03.070 align:start position:0% of my life to this project because I really<00:07:00.360> cared<00:07:00.639> about<00:07:00.879> the<00:07:01.039> other<00:07:01.840> three<00:07:02.840> uh 00:07:03.070 --> 00:07:03.080 align:start position:0% really cared about the other three uh 00:07:03.080 --> 00:07:04.990 align:start position:0% really cared about the other three uh bullet<00:07:03.440> points<00:07:03.960> the<00:07:04.160> individual<00:07:04.680> value 00:07:04.990 --> 00:07:05.000 align:start position:0% bullet points the individual value 00:07:05.000 --> 00:07:07.390 align:start position:0% bullet points the individual value social<00:07:05.319> value<00:07:05.599> and<00:07:06.039> fungibility<00:07:07.039> uh<00:07:07.160> but<00:07:07.280> then 00:07:07.390 --> 00:07:07.400 align:start position:0% social value and fungibility uh but then 00:07:07.400 --> 00:07:08.950 align:start position:0% social value and fungibility uh but then when<00:07:07.599> I<00:07:07.680> got<00:07:07.840> started<00:07:08.160> I<00:07:08.240> was<00:07:08.440> pleasantly 00:07:08.950 --> 00:07:08.960 align:start position:0% when I got started I was pleasantly 00:07:08.960 --> 00:07:12.230 align:start position:0% when I got started I was pleasantly surprised<00:07:09.400> to<00:07:09.800> discover<00:07:10.720> that<00:07:11.120> businesses<00:07:12.120> uh 00:07:12.230 --> 00:07:12.240 align:start position:0% surprised to discover that businesses uh 00:07:12.240 --> 00:07:14.869 align:start position:0% surprised to discover that businesses uh are<00:07:12.479> really<00:07:13.160> strongly<00:07:13.520> demanding<00:07:14.199> this<00:07:14.440> kind 00:07:14.869 --> 00:07:14.879 align:start position:0% are really strongly demanding this kind 00:07:14.879 --> 00:07:17.830 align:start position:0% are really strongly demanding this kind of<00:07:15.160> data<00:07:15.680> security<00:07:16.240> for<00:07:16.560> their<00:07:16.840> applications 00:07:17.830 --> 00:07:17.840 align:start position:0% of data security for their applications 00:07:17.840 --> 00:07:21.270 align:start position:0% of data security for their applications and<00:07:18.000> this<00:07:18.080> is<00:07:18.240> true<00:07:18.560> both<00:07:18.960> of<00:07:19.520> um<00:07:20.520> industrial 00:07:21.270 --> 00:07:21.280 align:start position:0% and this is true both of um industrial 00:07:21.280 --> 00:07:24.629 align:start position:0% and this is true both of um industrial blockchain<00:07:22.120> businesses<00:07:22.879> like<00:07:23.759> Banking<00:07:24.240> and 00:07:24.629 --> 00:07:24.639 align:start position:0% blockchain businesses like Banking and 00:07:24.639 --> 00:07:26.990 align:start position:0% blockchain businesses like Banking and trade<00:07:25.000> finance<00:07:25.360> and<00:07:25.599> insurance<00:07:26.120> and<00:07:26.599> health 00:07:26.990 --> 00:07:27.000 align:start position:0% trade finance and insurance and health 00:07:27.000 --> 00:07:29.070 align:start position:0% trade finance and insurance and health care<00:07:27.199> and<00:07:27.639> internet<00:07:28.000> of<00:07:28.280> things<00:07:28.599> and<00:07:28.800> so<00:07:28.919> on 00:07:29.070 --> 00:07:29.080 align:start position:0% care and internet of things and so on 00:07:29.080 --> 00:07:30.830 align:start position:0% care and internet of things and so on there's<00:07:29.199> a<00:07:29.280> whole<00:07:29.599> conference<00:07:30.000> on<00:07:30.199> this<00:07:30.400> topic 00:07:30.830 --> 00:07:30.840 align:start position:0% there's a whole conference on this topic 00:07:30.840 --> 00:07:32.909 align:start position:0% there's a whole conference on this topic after<00:07:31.120> this<00:07:31.360> conference<00:07:32.360> um<00:07:32.479> at<00:07:32.599> which<00:07:32.759> I'm 00:07:32.909 --> 00:07:32.919 align:start position:0% after this conference um at which I'm 00:07:32.919 --> 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every<00:07:42.840> single<00:07:43.160> one<00:07:43.360> of 00:07:43.510 --> 00:07:43.520 align:start position:0% those applications every single one of 00:07:43.520 --> 00:07:45.950 align:start position:0% those applications every single one of them<00:07:43.919> requires<00:07:44.599> improved<00:07:45.159> privacy<00:07:45.720> before 00:07:45.950 --> 00:07:45.960 align:start position:0% them requires improved privacy before 00:07:45.960 --> 00:07:48.350 align:start position:0% them requires improved privacy before they<00:07:46.080> can<00:07:46.240> use<00:07:46.479> blockchain<00:07:47.000> technology<00:07:47.440> for 00:07:48.350 --> 00:07:48.360 align:start position:0% they can use blockchain technology for 00:07:48.360 --> 00:07:51.589 align:start position:0% they can use blockchain technology for that<00:07:49.360> as<00:07:49.479> it<00:07:49.599> turns<00:07:49.840> out<00:07:50.720> uh<00:07:50.840> and<00:07:50.960> in<00:07:51.159> addition 00:07:51.589 --> 00:07:51.599 align:start position:0% that as it turns out uh and in addition 00:07:51.599 --> 00:07:55.189 align:start position:0% that as it turns out uh and in addition people<00:07:51.800> who<00:07:51.960> want<00:07:52.159> to<00:07:52.440> use<00:07:53.680> um<00:07:54.680> open 00:07:55.189 --> 00:07:55.199 align:start position:0% people who want to use um open 00:07:55.199 --> 00:07:56.909 align:start position:0% people who want to use um open cryptocurrencies<00:07:56.039> like<00:07:56.159> Bitcoin<00:07:56.520> and 00:07:56.909 --> 00:07:56.919 align:start position:0% cryptocurrencies like Bitcoin and 00:07:56.919 --> 00:07:59.230 align:start position:0% cryptocurrencies like Bitcoin and ethereum<00:07:57.919> uh<00:07:58.039> just<00:07:58.159> to<00:07:58.360> transact<00:07:58.840> and<00:07:58.960> to<00:07:59.080> find 00:07:59.230 --> 00:07:59.240 align:start position:0% ethereum uh just to transact and to find 00:07:59.240 --> 00:08:01.110 align:start position:0% ethereum uh just to transact and to find more<00:07:59.639> customers<00:08:00.120> from<00:08:00.280> more<00:08:00.520> countries<00:08:00.919> and 00:08:01.110 --> 00:08:01.120 align:start position:0% more customers from more countries and 00:08:01.120 --> 00:08:03.110 align:start position:0% more customers from more countries and stuff<00:08:01.360> like<00:08:01.520> that<00:08:01.720> they<00:08:01.919> also<00:08:02.280> require 00:08:03.110 --> 00:08:03.120 align:start position:0% stuff like that they also require 00:08:03.120 --> 00:08:06.270 align:start position:0% stuff like that they also require privacy<00:08:03.720> so<00:08:04.039> that<00:08:04.360> their<00:08:05.240> uh<00:08:05.479> contracts<00:08:06.080> and 00:08:06.270 --> 00:08:06.280 align:start position:0% privacy so that their uh contracts and 00:08:06.280 --> 00:08:08.869 align:start position:0% privacy so that their uh contracts and transactions<00:08:06.879> are<00:08:07.039> not<00:08:07.240> exposed<00:08:07.720> to<00:08:08.280> enemies 00:08:08.869 --> 00:08:08.879 align:start position:0% transactions are not exposed to enemies 00:08:08.879 --> 00:08:13.790 align:start position:0% transactions are not exposed to enemies and<00:08:09.199> competitors<00:08:09.919> and 00:08:13.790 --> 00:08:13.800 align:start position:0% 00:08:13.800 --> 00:08:17.070 align:start position:0% um<00:08:14.800> one<00:08:14.960> of<00:08:15.080> our<00:08:15.199> supporters<00:08:16.120> uh<00:08:16.240> Jeff<00:08:16.520> garic 00:08:17.070 --> 00:08:17.080 align:start position:0% um one of our supporters uh Jeff garic 00:08:17.080 --> 00:08:19.950 align:start position:0% um one of our supporters uh Jeff garic says<00:08:18.039> if<00:08:18.240> Samsung<00:08:18.680> and<00:08:18.840> Apple<00:08:19.199> can<00:08:19.440> see<00:08:19.800> each 00:08:19.950 --> 00:08:19.960 align:start position:0% says if Samsung and Apple can see each 00:08:19.960 --> 00:08:21.710 align:start position:0% says if Samsung and Apple can see each other's<00:08:20.360> transactions<00:08:21.080> then<00:08:21.240> that<00:08:21.360> prevents 00:08:21.710 --> 00:08:21.720 align:start position:0% other's transactions then that prevents 00:08:21.720 --> 00:08:23.629 align:start position:0% other's transactions then that prevents them<00:08:21.879> from<00:08:22.039> doing<00:08:22.319> business<00:08:23.080> we<00:08:23.199> need<00:08:23.520> a 00:08:23.629 --> 00:08:23.639 align:start position:0% them from doing business we need a 00:08:23.639 --> 00:08:26.029 align:start position:0% them from doing business we need a neutral<00:08:24.000> playing<00:08:24.319> field<00:08:24.720> where<00:08:24.879> people<00:08:25.199> can 00:08:26.029 --> 00:08:26.039 align:start position:0% neutral playing field where people can 00:08:26.039 --> 00:08:27.950 align:start position:0% neutral playing field where people can uh<00:08:26.199> connect<00:08:26.680> with<00:08:26.919> their<00:08:27.280> partners<00:08:27.720> and 00:08:27.950 --> 00:08:27.960 align:start position:0% uh connect with their partners and 00:08:27.960 --> 00:08:29.749 align:start position:0% uh connect with their partners and customers<00:08:28.560> at<00:08:28.680> the<00:08:28.800> same<00:08:29.000> time<00:08:29.199> as<00:08:29.520> having 00:08:29.749 --> 00:08:29.759 align:start position:0% customers at the same time as having 00:08:29.759 --> 00:08:33.389 align:start position:0% customers at the same time as having privacy<00:08:30.280> from<00:08:30.879> competitors<00:08:31.839> or<00:08:32.839> criminals<00:08:33.240> or 00:08:33.389 --> 00:08:33.399 align:start position:0% privacy from competitors or criminals or 00:08:33.399 --> 00:08:35.509 align:start position:0% privacy from competitors or criminals or hackers<00:08:33.719> or<00:08:33.919> whatever<00:08:34.680> so<00:08:34.880> that<00:08:35.039> turns<00:08:35.279> out<00:08:35.399> to 00:08:35.509 --> 00:08:35.519 align:start position:0% hackers or whatever so that turns out to 00:08:35.519 --> 00:08:37.310 align:start position:0% hackers or whatever so that turns out to be<00:08:35.880> really<00:08:36.120> important<00:08:36.479> and<00:08:36.640> widely<00:08:36.919> demanded 00:08:37.310 --> 00:08:37.320 align:start position:0% be really important and widely demanded 00:08:37.320 --> 00:08:38.949 align:start position:0% be really important and widely demanded by<00:08:37.519> businesses<00:08:38.159> which<00:08:38.320> I've<00:08:38.440> learned<00:08:38.719> in<00:08:38.839> the 00:08:38.949 --> 00:08:38.959 align:start position:0% by businesses which I've learned in the 00:08:38.959 --> 00:08:40.350 align:start position:0% by businesses which I've learned in the last<00:08:39.080> two<00:08:39.240> years<00:08:39.399> when<00:08:39.519> I<00:08:39.640> started<00:08:39.919> talking<00:08:40.200> to 00:08:40.350 --> 00:08:40.360 align:start position:0% last two years when I started talking to 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notes<00:08:49.080> are<00:08:49.279> worth<00:08:49.720> exactly<00:08:50.240> 100<00:08:50.600> each<00:08:50.800> one 00:08:50.949 --> 00:08:50.959 align:start position:0% W notes are worth exactly 100 each one 00:08:50.959 --> 00:08:52.750 align:start position:0% W notes are worth exactly 100 each one is<00:08:51.120> worth<00:08:51.360> exactly<00:08:51.800> 100<00:08:52.000> W<00:08:52.279> it's<00:08:52.399> not<00:08:52.600> that 00:08:52.750 --> 00:08:52.760 align:start position:0% is worth exactly 100 W it's not that 00:08:52.760 --> 00:08:54.110 align:start position:0% is worth exactly 100 W it's not that some<00:08:53.000> notes<00:08:53.279> are<00:08:53.399> worth<00:08:53.600> a<00:08:53.720> little<00:08:53.839> more<00:08:54.000> and 00:08:54.110 --> 00:08:54.120 align:start position:0% some notes are worth a little more and 00:08:54.120 --> 00:08:55.790 align:start position:0% some notes are worth a little more and some<00:08:54.240> notes<00:08:54.480> are<00:08:54.600> worth<00:08:54.800> a<00:08:54.920> little<00:08:55.160> less<00:08:55.680> and 00:08:55.790 --> 00:08:55.800 align:start position:0% some notes are worth a little less and 00:08:55.800 --> 00:08:58.310 align:start position:0% some notes are worth a little less and that's<00:08:56.040> really<00:08:56.360> important<00:08:57.120> because<00:08:57.680> you<00:08:57.839> want 00:08:58.310 --> 00:08:58.320 align:start position:0% that's really important because you want 00:08:58.320 --> 00:09:00.710 align:start position:0% that's really important because you want Commerce<00:08:58.760> to<00:08:58.920> be<00:08:59.079> friction<00:08:59.680> L<00:09:00.079> and<00:09:00.320> easy<00:09:00.600> you 00:09:00.710 --> 00:09:00.720 align:start position:0% Commerce to be friction L and easy you 00:09:00.720 --> 00:09:02.949 align:start position:0% Commerce to be friction L and easy you have<00:09:00.839> enough<00:09:01.160> problems<00:09:01.519> already<00:09:02.480> uh<00:09:02.640> getting 00:09:02.949 --> 00:09:02.959 align:start position:0% have enough problems already uh getting 00:09:02.959 --> 00:09:04.509 align:start position:0% have enough problems already uh getting you<00:09:03.079> know<00:09:03.279> getting<00:09:03.519> business<00:09:03.880> done<00:09:04.160> and<00:09:04.279> so 00:09:04.509 --> 00:09:04.519 align:start position:0% you know getting business done and so 00:09:04.519 --> 00:09:06.550 align:start position:0% you know getting business done and so you<00:09:04.640> don't<00:09:04.880> want<00:09:05.320> people<00:09:05.720> hesitating<00:09:06.320> and 00:09:06.550 --> 00:09:06.560 align:start position:0% you don't want people hesitating and 00:09:06.560 --> 00:09:08.470 align:start position:0% you don't want people hesitating and calculating<00:09:07.120> about<00:09:07.480> which<00:09:07.839> particular<00:09:08.200> note 00:09:08.470 --> 00:09:08.480 align:start position:0% calculating about which particular note 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era<00:09:15.399> we<00:09:15.640> need<00:09:16.200> better<00:09:17.160> uh<00:09:17.320> privacy 00:09:17.790 --> 00:09:17.800 align:start position:0% blockchain era we need better uh privacy 00:09:17.800 --> 00:09:20.470 align:start position:0% blockchain era we need better uh privacy in<00:09:17.880> order<00:09:18.120> to<00:09:19.079> keep<00:09:19.399> having<00:09:19.680> fungibility<00:09:20.360> in 00:09:20.470 --> 00:09:20.480 align:start position:0% in order to keep having fungibility in 00:09:20.480 --> 00:09:21.670 align:start position:0% in order to keep having fungibility in my 00:09:21.670 --> 00:09:21.680 align:start position:0% my 00:09:21.680 --> 00:09:25.110 align:start position:0% my opinion<00:09:22.680> all<00:09:23.120> right<00:09:24.120> uh<00:09:24.440> the<00:09:24.560> way<00:09:24.720> we<00:09:24.880> do 00:09:25.110 --> 00:09:25.120 align:start position:0% opinion all right uh the way we do 00:09:25.120 --> 00:09:27.910 align:start position:0% opinion all right uh the way we do privacy<00:09:25.720> like<00:09:25.839> I<00:09:25.959> already<00:09:26.480> alluded<00:09:27.480> uh<00:09:27.680> to 00:09:27.910 --> 00:09:27.920 align:start position:0% privacy like I already alluded uh to 00:09:27.920 --> 00:09:30.150 align:start position:0% privacy like I already alluded uh to encryption<00:09:28.560> so<00:09:28.720> there's<00:09:28.880> a<00:09:28.959> lot<00:09:29.079> of<00:09:29.399> privacy 00:09:30.150 --> 00:09:30.160 align:start position:0% encryption so there's a lot of privacy 00:09:30.160 --> 00:09:32.590 align:start position:0% encryption so there's a lot of privacy techniques<00:09:30.760> that<00:09:30.880> have<00:09:31.079> been<00:09:31.320> developed<00:09:31.800> for 00:09:32.590 --> 00:09:32.600 align:start position:0% techniques that have been developed for 00:09:32.600 --> 00:09:35.550 align:start position:0% techniques that have been developed for uh<00:09:32.959> Bitcoin<00:09:33.959> um<00:09:34.399> I<00:09:34.519> don't<00:09:34.800> know<00:09:35.200> if<00:09:35.360> they've 00:09:35.550 --> 00:09:35.560 align:start position:0% uh Bitcoin um I don't know if they've 00:09:35.560 --> 00:09:37.670 align:start position:0% uh Bitcoin um I don't know if they've been<00:09:35.800> applied<00:09:36.120> to<00:09:36.279> ethereum<00:09:36.880> yet<00:09:37.279> um<00:09:37.440> I'd<00:09:37.600> be 00:09:37.670 --> 00:09:37.680 align:start position:0% been applied to ethereum yet um I'd be 00:09:37.680 --> 00:09:38.910 align:start position:0% been applied to ethereum yet um I'd be interested<00:09:37.959> to<00:09:38.079> hear<00:09:38.240> from<00:09:38.360> you<00:09:38.480> all<00:09:38.680> about 00:09:38.910 --> 00:09:38.920 align:start position:0% interested to hear from you all about 00:09:38.920 --> 00:09:43.030 align:start position:0% interested to hear from you all about that<00:09:39.839> uh<00:09:40.480> and<00:09:41.200> uh<00:09:41.640> those<00:09:41.800> ones<00:09:42.000> are<00:09:42.240> basically 00:09:43.030 --> 00:09:43.040 align:start position:0% that uh and uh those ones are basically 00:09:43.040 --> 00:09:46.470 align:start position:0% that uh and uh those ones are basically obfuscation<00:09:43.839> in<00:09:43.959> the<00:09:44.120> sense<00:09:44.399> of<00:09:44.959> uh<00:09:45.920> taking<00:09:46.240> a 00:09:46.470 --> 00:09:46.480 align:start position:0% obfuscation in the sense of uh taking a 00:09:46.480 --> 00:09:48.590 align:start position:0% obfuscation in the sense of uh taking a transaction<00:09:47.240> and<00:09:47.399> hiding<00:09:47.680> it<00:09:47.800> in<00:09:47.959> a<00:09:48.079> bundle<00:09:48.440> of 00:09:48.590 --> 00:09:48.600 align:start position:0% transaction and hiding it in a bundle of 00:09:48.600 --> 00:09:51.949 align:start position:0% transaction and hiding it in a bundle of other<00:09:49.399> transactions<00:09:50.399> uh<00:09:50.519> so<00:09:50.680> that<00:09:50.839> it's<00:09:51.760> so 00:09:51.949 --> 00:09:51.959 align:start position:0% other transactions uh so that it's so 00:09:51.959 --> 00:09:53.590 align:start position:0% other transactions uh so that it's so there's<00:09:52.120> a<00:09:52.240> few<00:09:52.480> different<00:09:53.000> transactions 00:09:53.590 --> 00:09:53.600 align:start position:0% there's a few different transactions 00:09:53.600 --> 00:09:54.750 align:start position:0% there's a few different transactions that<00:09:53.720> it<00:09:53.800> could<00:09:53.920> have<00:09:54.040> been<00:09:54.200> a<00:09:54.320> part<00:09:54.480> of<00:09:54.600> or 00:09:54.750 --> 00:09:54.760 align:start position:0% that it could have been a part of or 00:09:54.760 --> 00:09:56.829 align:start position:0% that it could have been a part of or something<00:09:55.079> like<00:09:55.279> that<00:09:56.079> and<00:09:56.279> what<00:09:56.399> we're<00:09:56.560> doing 00:09:56.829 --> 00:09:56.839 align:start position:0% something like that and what we're doing 00:09:56.839 --> 00:09:58.710 align:start position:0% something like that and what we're doing in<00:09:57.120> zcash<00:09:57.760> is<00:09:57.959> is<00:09:58.120> kind<00:09:58.240> of<00:09:58.320> a<00:09:58.440> different 00:09:58.710 --> 00:09:58.720 align:start position:0% in zcash is is kind of a different 00:09:58.720 --> 00:10:00.710 align:start position:0% in zcash is is kind of a different approach<00:09:59.040> which<00:09:59.160> is<00:09:59.480> using<00:10:00.079> encryption<00:10:00.640> which 00:10:00.710 --> 00:10:00.720 align:start position:0% approach which is using encryption which 00:10:00.720 --> 00:10:04.430 align:start position:0% approach which is using encryption which is<00:10:00.839> a<00:10:01.000> well<00:10:01.200> understood<00:10:01.760> modern 00:10:04.430 --> 00:10:04.440 align:start position:0% 00:10:04.440 --> 00:10:07.470 align:start position:0% technology<00:10:05.440> and<00:10:06.120> we<00:10:06.279> encrypt<00:10:06.800> all<00:10:06.959> of<00:10:07.120> the 00:10:07.470 --> 00:10:07.480 align:start position:0% technology and we encrypt all of the 00:10:07.480 --> 00:10:09.630 align:start position:0% technology and we encrypt all of the parts<00:10:08.120> of<00:10:08.240> the<00:10:08.399> transaction<00:10:09.000> before<00:10:09.279> posting 00:10:09.630 --> 00:10:09.640 align:start position:0% parts of the transaction before posting 00:10:09.640 --> 00:10:11.590 align:start position:0% parts of the transaction before posting it<00:10:09.760> to<00:10:09.920> the<00:10:10.040> blockchain<00:10:10.880> so<00:10:11.040> the<00:10:11.160> sender 00:10:11.590 --> 00:10:11.600 align:start position:0% it to the blockchain so the sender 00:10:11.600 --> 00:10:13.990 align:start position:0% it to the blockchain so the sender address<00:10:12.079> the<00:10:12.200> recipient<00:10:12.680> address<00:10:13.160> the<00:10:13.360> amount 00:10:13.990 --> 00:10:14.000 align:start position:0% address the recipient address the amount 00:10:14.000 --> 00:10:17.350 align:start position:0% address the recipient address the amount any<00:10:14.360> other<00:10:15.360> metadata<00:10:16.279> that<00:10:16.519> is<00:10:16.800> part<00:10:17.079> of<00:10:17.200> the 00:10:17.350 --> 00:10:17.360 align:start position:0% any other metadata that is part of the 00:10:17.360 --> 00:10:20.030 align:start position:0% any other metadata that is part of the transaction<00:10:18.040> that<00:10:18.200> all<00:10:18.360> gets<00:10:18.880> encrypted<00:10:19.880> uh 00:10:20.030 --> 00:10:20.040 align:start position:0% transaction that all gets encrypted uh 00:10:20.040 --> 00:10:21.829 align:start position:0% transaction that all gets encrypted uh and<00:10:20.160> then<00:10:20.320> only<00:10:20.560> the<00:10:20.720> cipher<00:10:21.079> text<00:10:21.360> is<00:10:21.519> posted 00:10:21.829 --> 00:10:21.839 align:start position:0% and then only the cipher text is posted 00:10:21.839 --> 00:10:22.829 align:start position:0% and then only the cipher text is posted to<00:10:22.000> the 00:10:22.829 --> 00:10:22.839 align:start position:0% to the 00:10:22.839 --> 00:10:25.710 align:start position:0% to the blockchain<00:10:23.839> okay<00:10:24.079> that 00:10:25.710 --> 00:10:25.720 align:start position:0% blockchain okay that 00:10:25.720 --> 00:10:28.750 align:start position:0% blockchain okay that clearly<00:10:26.720> has<00:10:26.839> a<00:10:27.040> very<00:10:27.480> strong<00:10:27.959> privacy 00:10:28.750 --> 00:10:28.760 align:start position:0% clearly has a very strong privacy 00:10:28.760 --> 00:10:30.470 align:start position:0% clearly has a very strong privacy consequence 00:10:30.470 --> 00:10:30.480 align:start position:0% consequence 00:10:30.480 --> 00:10:33.829 align:start position:0% consequence um<00:10:31.480> but<00:10:32.440> uh<00:10:32.720> there's<00:10:32.920> also<00:10:33.120> a<00:10:33.200> major<00:10:33.560> problem 00:10:33.829 --> 00:10:33.839 align:start position:0% um but uh there's also a major problem 00:10:33.839 --> 00:10:35.590 align:start position:0% um but uh there's also a major problem with<00:10:33.959> it<00:10:34.200> like<00:10:34.320> why<00:10:34.440> didn't<00:10:34.680> Satoshi<00:10:35.200> do<00:10:35.399> that 00:10:35.590 --> 00:10:35.600 align:start position:0% with it like why didn't Satoshi do that 00:10:35.600 --> 00:10:38.190 align:start position:0% with it like why didn't Satoshi do that years<00:10:35.880> ago<00:10:36.440> with<00:10:36.600> Bitcoin<00:10:37.600> is<00:10:37.800> that<00:10:37.959> if<00:10:38.040> you 00:10:38.190 --> 00:10:38.200 align:start position:0% years ago with Bitcoin is that if you 00:10:38.200 --> 00:10:39.910 align:start position:0% years ago with Bitcoin is that if you encrypt<00:10:38.639> all<00:10:38.720> the<00:10:38.880> transactions<00:10:39.519> then<00:10:39.639> how<00:10:39.760> do 00:10:39.910 --> 00:10:39.920 align:start position:0% encrypt all the transactions then how do 00:10:39.920 --> 00:10:43.470 align:start position:0% encrypt all the transactions then how do the<00:10:40.079> validators<00:10:40.800> know<00:10:41.240> how<00:10:41.800> to<00:10:42.800> uh 00:10:43.470 --> 00:10:43.480 align:start position:0% the validators know how to uh 00:10:43.480 --> 00:10:45.430 align:start position:0% the validators know how to uh discriminate<00:10:44.079> how<00:10:44.200> to<00:10:44.320> filter<00:10:44.680> out<00:10:45.000> bogus 00:10:45.430 --> 00:10:45.440 align:start position:0% discriminate how to filter out bogus 00:10:45.440 --> 00:10:46.670 align:start position:0% discriminate how to filter out bogus transactions<00:10:45.920> that<00:10:46.120> include<00:10:46.399> only 00:10:46.670 --> 00:10:46.680 align:start position:0% transactions that include only 00:10:46.680 --> 00:10:48.150 align:start position:0% transactions that include only legitimate<00:10:47.120> transactions<00:10:47.639> in<00:10:47.800> the 00:10:48.150 --> 00:10:48.160 align:start position:0% legitimate transactions in the 00:10:48.160 --> 00:10:50.550 align:start position:0% legitimate transactions in the blockchain<00:10:49.160> so<00:10:49.399> that<00:10:49.560> was<00:10:49.720> the<00:10:49.880> unsolved 00:10:50.550 --> 00:10:50.560 align:start position:0% blockchain so that was the unsolved 00:10:50.560 --> 00:10:53.829 align:start position:0% blockchain so that was the unsolved problem<00:10:50.920> until<00:10:51.480> about<00:10:51.800> three<00:10:52.079> years<00:10:52.639> ago<00:10:53.639> when 00:10:53.829 --> 00:10:53.839 align:start position:0% problem until about three years ago when 00:10:53.839 --> 00:10:56.110 align:start position:0% problem until about three years ago when the<00:10:54.000> scientists<00:10:54.480> that<00:10:54.600> I<00:10:54.880> mentioned<00:10:55.880> uh<00:10:56.000> that 00:10:56.110 --> 00:10:56.120 align:start position:0% the scientists that I mentioned uh that 00:10:56.120 --> 00:10:58.190 align:start position:0% the scientists that I mentioned uh that was<00:10:56.240> the<00:10:56.360> Breakthrough<00:10:57.079> and<00:10:57.240> it's<00:10:57.760> uh<00:10:57.959> called 00:10:58.190 --> 00:10:58.200 align:start position:0% was the Breakthrough and it's uh called 00:10:58.200 --> 00:11:00.030 align:start position:0% was the Breakthrough and it's uh called ZK<00:10:58.560> snarks<00:10:59.040> which 00:11:00.030 --> 00:11:00.040 align:start position:0% ZK snarks which 00:11:00.040 --> 00:11:02.069 align:start position:0% ZK snarks which uh<00:11:00.160> vitalic<00:11:00.600> mentioned<00:11:00.959> in<00:11:01.160> his<00:11:01.360> talk<00:11:01.560> today 00:11:02.069 --> 00:11:02.079 align:start position:0% uh vitalic mentioned in his talk today 00:11:02.079 --> 00:11:04.350 align:start position:0% uh vitalic mentioned in his talk today as<00:11:02.160> a<00:11:02.320> future<00:11:03.240> a<00:11:03.440> potential<00:11:03.880> future 00:11:04.350 --> 00:11:04.360 align:start position:0% as a future a potential future 00:11:04.360 --> 00:11:07.550 align:start position:0% as a future a potential future Improvement<00:11:04.920> to<00:11:05.360> ethereum<00:11:06.360> uh<00:11:06.480> ZK<00:11:06.800> snaric<00:11:07.320> are 00:11:07.550 --> 00:11:07.560 align:start position:0% Improvement to ethereum uh ZK snaric are 00:11:07.560 --> 00:11:10.110 align:start position:0% Improvement to ethereum uh ZK snaric are really<00:11:07.880> efficient<00:11:08.320> zero<00:11:08.720> knowledge<00:11:09.200> proofs 00:11:10.110 --> 00:11:10.120 align:start position:0% really efficient zero knowledge proofs 00:11:10.120 --> 00:11:12.269 align:start position:0% really efficient zero knowledge proofs and<00:11:10.240> a<00:11:10.360> zero<00:11:10.639> knowledge<00:11:11.040> proof 00:11:12.269 --> 00:11:12.279 align:start position:0% and a zero knowledge proof 00:11:12.279 --> 00:11:16.790 align:start position:0% and a zero knowledge proof is<00:11:13.279> a<00:11:13.440> pretty<00:11:13.760> mindboggling<00:11:14.760> thing 00:11:16.790 --> 00:11:16.800 align:start position:0% is a pretty mindboggling thing 00:11:16.800 --> 00:11:18.350 align:start position:0% is a pretty mindboggling thing uh 00:11:18.350 --> 00:11:18.360 align:start position:0% uh 00:11:18.360 --> 00:11:22.350 align:start position:0% uh but<00:11:19.360> the<00:11:19.560> effect<00:11:19.880> of<00:11:20.040> it<00:11:20.279> is<00:11:20.800> you<00:11:21.000> can<00:11:21.399> make<00:11:21.560> a 00:11:22.350 --> 00:11:22.360 align:start position:0% but the effect of it is you can make a 00:11:22.360 --> 00:11:26.829 align:start position:0% but the effect of it is you can make a cryptographic<00:11:23.480> uh<00:11:24.480> string<00:11:25.120> a<00:11:25.519> proof<00:11:26.519> and<00:11:26.680> the 00:11:26.829 --> 00:11:26.839 align:start position:0% cryptographic uh string a proof and the 00:11:26.839 --> 00:11:29.629 align:start position:0% cryptographic uh string a proof and the validators<00:11:27.480> can<00:11:27.680> inspect<00:11:28.200> this<00:11:29.000> and<00:11:29.399> can<00:11:29.480> say 00:11:29.629 --> 00:11:29.639 align:start position:0% validators can inspect this and can say 00:11:29.639 --> 00:11:31.230 align:start position:0% validators can inspect this and can say to 00:11:31.230 --> 00:11:31.240 align:start position:0% to 00:11:31.240 --> 00:11:33.629 align:start position:0% to themselves<00:11:32.240> nobody<00:11:32.680> could<00:11:32.800> have<00:11:33.000> come<00:11:33.200> up 00:11:33.629 --> 00:11:33.639 align:start position:0% themselves nobody could have come up 00:11:33.639 --> 00:11:35.790 align:start position:0% themselves nobody could have come up with<00:11:33.800> this<00:11:33.959> cryptographic<00:11:34.600> string<00:11:35.440> if<00:11:35.600> they 00:11:35.790 --> 00:11:35.800 align:start position:0% with this cryptographic string if they 00:11:35.800 --> 00:11:39.470 align:start position:0% with this cryptographic string if they did<00:11:36.040> not<00:11:36.360> know<00:11:36.760> a<00:11:36.880> secret<00:11:37.279> key<00:11:37.680> which<00:11:37.920> signed<00:11:38.920> a 00:11:39.470 --> 00:11:39.480 align:start position:0% did not know a secret key which signed a 00:11:39.480 --> 00:11:41.670 align:start position:0% did not know a secret key which signed a transaction<00:11:40.480> which<00:11:40.639> was<00:11:40.920> valid<00:11:41.240> according<00:11:41.519> to 00:11:41.670 --> 00:11:41.680 align:start position:0% transaction which was valid according to 00:11:41.680 --> 00:11:44.310 align:start position:0% transaction which was valid according to all<00:11:41.800> the<00:11:41.920> rules<00:11:42.440> of<00:11:43.160> uh<00:11:43.720> like<00:11:43.839> not<00:11:44.040> double 00:11:44.310 --> 00:11:44.320 align:start position:0% all the rules of uh like not double 00:11:44.320 --> 00:11:47.910 align:start position:0% all the rules of uh like not double spending<00:11:44.800> and<00:11:45.000> preserving<00:11:45.639> all<00:11:45.800> the 00:11:47.910 --> 00:11:47.920 align:start position:0% spending and preserving all the 00:11:47.920 --> 00:11:49.870 align:start position:0% spending and preserving all the invariant 00:11:49.870 --> 00:11:49.880 align:start position:0% invariant 00:11:49.880 --> 00:11:53.829 align:start position:0% invariant uh<00:11:51.040> and<00:11:52.040> that<00:11:52.240> transaction<00:11:52.800> is<00:11:53.000> what's<00:11:53.360> inside 00:11:53.829 --> 00:11:53.839 align:start position:0% uh and that transaction is what's inside 00:11:53.839 --> 00:11:56.550 align:start position:0% uh and that transaction is what's inside this<00:11:54.200> Cipher<00:11:54.600> text<00:11:55.360> so<00:11:55.800> the<00:11:55.920> validators<00:11:56.440> can 00:11:56.550 --> 00:11:56.560 align:start position:0% this Cipher text so the validators can 00:11:56.560 --> 00:11:58.430 align:start position:0% this Cipher text so the validators can use<00:11:56.760> this<00:11:56.920> zero<00:11:57.160> knowledge<00:11:57.480> proof<00:11:57.839> to 00:11:58.430 --> 00:11:58.440 align:start position:0% use this zero knowledge proof to 00:11:58.440 --> 00:11:59.829 align:start position:0% use this zero knowledge proof to persuade<00:11:58.959> themselves 00:11:59.829 --> 00:11:59.839 align:start position:0% persuade themselves 00:11:59.839 --> 00:12:02.110 align:start position:0% persuade themselves cryptographically<00:12:00.839> that<00:12:01.040> there<00:12:01.320> must<00:12:01.720> be<00:12:01.959> a 00:12:02.110 --> 00:12:02.120 align:start position:0% cryptographically that there must be a 00:12:02.120 --> 00:12:05.069 align:start position:0% cryptographically that there must be a valid<00:12:02.880> transaction<00:12:03.880> signed 00:12:05.069 --> 00:12:05.079 align:start position:0% valid transaction signed 00:12:05.079 --> 00:12:08.190 align:start position:0% valid transaction signed by<00:12:06.079> the<00:12:06.399> person<00:12:06.720> who<00:12:07.240> who<00:12:07.360> owned<00:12:07.680> the<00:12:07.800> private 00:12:08.190 --> 00:12:08.200 align:start position:0% by the person who who owned the private 00:12:08.200 --> 00:12:10.670 align:start position:0% by the person who who owned the private key<00:12:09.200> inside<00:12:09.519> this<00:12:09.680> encrypted<00:12:10.079> transaction 00:12:10.670 --> 00:12:10.680 align:start position:0% key inside this encrypted transaction 00:12:10.680 --> 00:12:11.870 align:start position:0% key inside this encrypted transaction but<00:12:10.800> they<00:12:10.920> don't<00:12:11.079> learn<00:12:11.399> anything<00:12:11.720> that's 00:12:11.870 --> 00:12:11.880 align:start position:0% but they don't learn anything that's 00:12:11.880 --> 00:12:13.710 align:start position:0% but they don't learn anything that's called<00:12:12.079> ZK<00:12:12.560> a<00:12:12.639> short<00:12:12.839> for<00:12:13.000> zero<00:12:13.279> knowledge 00:12:13.710 --> 00:12:13.720 align:start position:0% called ZK a short for zero knowledge 00:12:13.720 --> 00:12:15.990 align:start position:0% called ZK a short for zero knowledge because<00:12:14.000> they<00:12:14.160> don't<00:12:14.360> learn<00:12:15.120> anything<00:12:15.600> else 00:12:15.990 --> 00:12:16.000 align:start position:0% because they don't learn anything else 00:12:16.000 --> 00:12:17.350 align:start position:0% because they don't learn anything else about<00:12:16.199> the<00:12:16.320> transaction<00:12:16.839> they<00:12:16.920> don't<00:12:17.079> learn 00:12:17.350 --> 00:12:17.360 align:start position:0% about the transaction they don't learn 00:12:17.360 --> 00:12:19.670 align:start position:0% about the transaction they don't learn anything<00:12:17.680> about<00:12:17.959> the<00:12:18.120> amount<00:12:18.959> that<00:12:19.279> of<00:12:19.519> what 00:12:19.670 --> 00:12:19.680 align:start position:0% anything about the amount that of what 00:12:19.680 --> 00:12:21.470 align:start position:0% anything about the amount that of what kind<00:12:19.800> of<00:12:20.000> contract<00:12:20.399> is<00:12:20.560> involved<00:12:20.959> or<00:12:21.160> anything 00:12:21.470 --> 00:12:21.480 align:start position:0% kind of contract is involved or anything 00:12:21.480 --> 00:12:23.430 align:start position:0% kind of contract is involved or anything like<00:12:21.680> that<00:12:22.440> so<00:12:22.720> that's<00:12:23.000> the<00:12:23.199> science 00:12:23.430 --> 00:12:23.440 align:start position:0% like that so that's the science 00:12:23.440 --> 00:12:24.990 align:start position:0% like that so that's the science breakthrough<00:12:23.959> that<00:12:24.079> has<00:12:24.320> just<00:12:24.600> come<00:12:24.760> out 00:12:24.990 --> 00:12:25.000 align:start position:0% breakthrough that has just come out 00:12:25.000 --> 00:12:30.189 align:start position:0% breakthrough that has just come out recently 00:12:30.189 --> 00:12:30.199 align:start position:0% 00:12:30.199 --> 00:12:33.590 align:start position:0% so<00:12:31.199> for<00:12:31.360> the<00:12:31.519> rest<00:12:31.639> of<00:12:31.839> this<00:12:32.199> talk<00:12:33.199> different 00:12:33.590 --> 00:12:33.600 align:start position:0% so for the rest of this talk different 00:12:33.600 --> 00:12:35.430 align:start position:0% so for the rest of this talk different ways<00:12:34.360> that 00:12:35.430 --> 00:12:35.440 align:start position:0% ways that 00:12:35.440 --> 00:12:38.550 align:start position:0% ways that ethereum<00:12:36.440> and<00:12:36.639> zcash 00:12:38.550 --> 00:12:38.560 align:start position:0% ethereum and zcash 00:12:38.560 --> 00:12:42.110 align:start position:0% ethereum and zcash can<00:12:39.560> connect<00:12:39.880> with<00:12:40.040> each<00:12:40.560> other<00:12:41.560> uh<00:12:41.720> the<00:12:41.880> first 00:12:42.110 --> 00:12:42.120 align:start position:0% can connect with each other uh the first 00:12:42.120 --> 00:12:44.030 align:start position:0% can connect with each other uh the first way<00:12:42.320> so<00:12:42.560> ethereum's<00:12:43.120> reason<00:12:43.360> for<00:12:43.600> existence 00:12:44.030 --> 00:12:44.040 align:start position:0% way so ethereum's reason for existence 00:12:44.040 --> 00:12:46.470 align:start position:0% way so ethereum's reason for existence is<00:12:44.519> programmability<00:12:45.519> and<00:12:45.639> zcash<00:12:46.120> is<00:12:46.240> reason 00:12:46.470 --> 00:12:46.480 align:start position:0% is programmability and zcash is reason 00:12:46.480 --> 00:12:49.150 align:start position:0% is programmability and zcash is reason for<00:12:46.720> existence<00:12:47.160> is<00:12:47.639> privacy<00:12:48.639> and<00:12:48.760> so<00:12:48.920> we<00:12:49.040> want 00:12:49.150 --> 00:12:49.160 align:start position:0% for existence is privacy and so we want 00:12:49.160 --> 00:12:53.269 align:start position:0% for existence is privacy and so we want to<00:12:49.880> we're<00:12:50.079> wondering<00:12:50.680> we<00:12:50.839> we<00:12:51.040> zcash<00:12:51.880> have<00:12:52.279> been 00:12:53.269 --> 00:12:53.279 align:start position:0% to we're wondering we we zcash have been 00:12:53.279 --> 00:12:55.350 align:start position:0% to we're wondering we we zcash have been because<00:12:53.560> we<00:12:53.680> love<00:12:53.880> ethereum<00:12:54.440> we've<00:12:55.199> I've 00:12:55.350 --> 00:12:55.360 align:start position:0% because we love ethereum we've I've 00:12:55.360 --> 00:12:57.310 align:start position:0% because we love ethereum we've I've always<00:12:55.519> loved<00:12:55.760> ethereum<00:12:56.240> since<00:12:56.839> the<00:12:56.959> moment<00:12:57.199> I 00:12:57.310 --> 00:12:57.320 align:start position:0% always loved ethereum since the moment I 00:12:57.320 --> 00:13:00.590 align:start position:0% always loved ethereum since the moment I heard<00:12:57.519> about<00:12:57.920> it<00:12:58.920> uh 00:13:00.590 --> 00:13:00.600 align:start position:0% heard about it uh 00:13:00.600 --> 00:13:03.430 align:start position:0% heard about it uh just<00:13:01.320> slightly<00:13:01.760> before<00:13:02.160> the<00:13:02.839> first<00:13:03.160> Public 00:13:03.430 --> 00:13:03.440 align:start position:0% just slightly before the first Public 00:13:03.440 --> 00:13:05.990 align:start position:0% just slightly before the first Public Announcement<00:13:03.839> of<00:13:04.160> it<00:13:05.160> um<00:13:05.600> and<00:13:05.680> so<00:13:05.839> we've 00:13:05.990 --> 00:13:06.000 align:start position:0% Announcement of it um and so we've 00:13:06.000 --> 00:13:06.990 align:start position:0% Announcement of it um and so we've always<00:13:06.120> been<00:13:06.199> trying<00:13:06.360> to<00:13:06.440> figure<00:13:06.639> out<00:13:06.800> how<00:13:06.880> do 00:13:06.990 --> 00:13:07.000 align:start position:0% always been trying to figure out how do 00:13:07.000 --> 00:13:09.230 align:start position:0% always been trying to figure out how do you<00:13:07.560> how<00:13:07.680> can<00:13:07.800> you<00:13:07.959> combine<00:13:08.440> programmability 00:13:09.230 --> 00:13:09.240 align:start position:0% you how can you combine programmability 00:13:09.240 --> 00:13:10.030 align:start position:0% you how can you combine programmability and 00:13:10.030 --> 00:13:10.040 align:start position:0% and 00:13:10.040 --> 00:13:14.710 align:start position:0% and privacy<00:13:11.040> so<00:13:11.240> the<00:13:11.399> first<00:13:11.680> way<00:13:12.079> is<00:13:12.680> um<00:13:13.720> add 00:13:14.710 --> 00:13:14.720 align:start position:0% privacy so the first way is um add 00:13:14.720 --> 00:13:17.670 align:start position:0% privacy so the first way is um add privacy<00:13:15.320> into<00:13:15.959> ethereum<00:13:16.959> and<00:13:17.079> there's<00:13:17.360> this 00:13:17.670 --> 00:13:17.680 align:start position:0% privacy into ethereum and there's this 00:13:17.680 --> 00:13:20.629 align:start position:0% privacy into ethereum and there's this this<00:13:17.959> hack<00:13:18.519> that<00:13:18.639> we<00:13:18.800> did<00:13:19.120> called<00:13:19.920> Baby<00:13:20.279> Zoey 00:13:20.629 --> 00:13:20.639 align:start position:0% this hack that we did called Baby Zoey 00:13:20.639 --> 00:13:21.910 align:start position:0% this hack that we did called Baby Zoey and<00:13:20.720> it's<00:13:20.839> called<00:13:21.079> baby<00:13:21.360> because<00:13:21.560> it's<00:13:21.680> just<00:13:21.800> a 00:13:21.910 --> 00:13:21.920 align:start position:0% and it's called baby because it's just a 00:13:21.920 --> 00:13:23.990 align:start position:0% and it's called baby because it's just a baby<00:13:22.279> step<00:13:22.560> it's<00:13:22.680> just<00:13:22.800> a<00:13:22.880> proof<00:13:23.079> of<00:13:23.320> concept 00:13:23.990 --> 00:13:24.000 align:start position:0% baby step it's just a proof of concept 00:13:24.000 --> 00:13:26.389 align:start position:0% baby step it's just a proof of concept and<00:13:24.120> Zoe<00:13:24.440> is<00:13:24.519> short<00:13:24.720> for<00:13:24.920> zcash<00:13:25.440> on<00:13:25.639> ethereum 00:13:26.389 --> 00:13:26.399 align:start position:0% and Zoe is short for zcash on ethereum 00:13:26.399 --> 00:13:29.509 align:start position:0% and Zoe is short for zcash on ethereum some<00:13:26.639> zcash<00:13:27.279> went<00:13:27.480> to<00:13:27.800> a 00:13:29.509 --> 00:13:29.519 align:start position:0% some zcash went to a 00:13:29.519 --> 00:13:31.470 align:start position:0% some zcash went to a a<00:13:29.639> hackfest<00:13:30.440> and<00:13:30.639> vitalic<00:13:31.079> was<00:13:31.240> there<00:13:31.360> and 00:13:31.470 --> 00:13:31.480 align:start position:0% a hackfest and vitalic was there and 00:13:31.480 --> 00:13:33.269 align:start position:0% a hackfest and vitalic was there and helped<00:13:31.800> them<00:13:32.079> and<00:13:32.199> some<00:13:32.360> people<00:13:32.560> from<00:13:32.760> Cornell 00:13:33.269 --> 00:13:33.279 align:start position:0% helped them and some people from Cornell 00:13:33.279 --> 00:13:36.670 align:start position:0% helped them and some people from Cornell were<00:13:33.480> helping<00:13:33.800> them<00:13:34.600> and 00:13:36.670 --> 00:13:36.680 align:start position:0% were helping them and 00:13:36.680 --> 00:13:39.870 align:start position:0% were helping them and uh<00:13:37.680> what<00:13:37.839> that<00:13:37.959> does<00:13:38.160> is<00:13:38.399> add<00:13:38.720> a<00:13:38.920> ZK<00:13:39.399> snark 00:13:39.870 --> 00:13:39.880 align:start position:0% uh what that does is add a ZK snark 00:13:39.880 --> 00:13:43.430 align:start position:0% uh what that does is add a ZK snark pre-compile<00:13:40.560> into<00:13:41.279> ethereum<00:13:42.279> uh<00:13:42.639> and<00:13:43.120> then 00:13:43.430 --> 00:13:43.440 align:start position:0% pre-compile into ethereum uh and then 00:13:43.440 --> 00:13:46.949 align:start position:0% pre-compile into ethereum uh and then Implement<00:13:44.000> kind<00:13:44.120> of<00:13:44.360> a<00:13:44.880> a<00:13:45.519> minimal<00:13:46.240> simplified 00:13:46.949 --> 00:13:46.959 align:start position:0% Implement kind of a a minimal simplified 00:13:46.959 --> 00:13:49.189 align:start position:0% Implement kind of a a minimal simplified version<00:13:47.240> of<00:13:47.399> zcash<00:13:48.000> as<00:13:48.120> an<00:13:48.240> ethereum<00:13:48.760> contract 00:13:49.189 --> 00:13:49.199 align:start position:0% version of zcash as an ethereum contract 00:13:49.199 --> 00:13:50.550 align:start position:0% version of zcash as an ethereum contract so<00:13:49.320> that's<00:13:49.480> pretty<00:13:49.680> awesome<00:13:49.959> that<00:13:50.079> that<00:13:50.199> works 00:13:50.550 --> 00:13:50.560 align:start position:0% so that's pretty awesome that that works 00:13:50.560 --> 00:13:52.590 align:start position:0% so that's pretty awesome that that works and<00:13:50.680> that's<00:13:50.839> hopefully<00:13:51.240> the<00:13:51.399> basis<00:13:51.880> of<00:13:52.120> the 00:13:52.590 --> 00:13:52.600 align:start position:0% and that's hopefully the basis of the 00:13:52.600 --> 00:13:55.870 align:start position:0% and that's hopefully the basis of the coming<00:13:53.600> uh<00:13:53.720> ZK<00:13:54.079> snark<00:13:54.800> pre-compile<00:13:55.800> that 00:13:55.870 --> 00:13:55.880 align:start position:0% coming uh ZK snark pre-compile that 00:13:55.880 --> 00:13:58.710 align:start position:0% coming uh ZK snark pre-compile that should<00:13:56.079> be<00:13:56.199> added<00:13:56.440> into<00:13:56.720> ethereum<00:13:57.600> proper<00:13:58.600> and 00:13:58.710 --> 00:13:58.720 align:start position:0% should be added into ethereum proper and 00:13:58.720 --> 00:13:59.870 align:start position:0% should be added into ethereum proper and the<00:13:58.800> second<00:13:59.199> thing<00:13:59.279> you<00:13:59.360> can<00:13:59.440> do<00:13:59.560> is<00:13:59.680> add 00:13:59.870 --> 00:13:59.880 align:start position:0% the second thing you can do is add 00:13:59.880 --> 00:14:03.110 align:start position:0% the second thing you can do is add programmability<00:14:00.759> into<00:14:01.440> zcash<00:14:02.440> um<00:14:02.800> we<00:14:02.920> don't 00:14:03.110 --> 00:14:03.120 align:start position:0% programmability into zcash um we don't 00:14:03.120 --> 00:14:06.550 align:start position:0% programmability into zcash um we don't have<00:14:03.279> any<00:14:03.800> results<00:14:04.399> to<00:14:05.120> talk<00:14:05.600> about<00:14:06.079> yet<00:14:06.399> but 00:14:06.550 --> 00:14:06.560 align:start position:0% have any results to talk about yet but 00:14:06.560 --> 00:14:08.470 align:start position:0% have any results to talk about yet but some<00:14:06.720> of<00:14:06.839> our<00:14:07.120> scientists<00:14:07.839> uh<00:14:07.920> spend<00:14:08.240> some<00:14:08.360> of 00:14:08.470 --> 00:14:08.480 align:start position:0% some of our scientists uh spend some of 00:14:08.480 --> 00:14:12.990 align:start position:0% some of our scientists uh spend some of their<00:14:08.639> spare<00:14:08.959> time<00:14:09.120> in<00:14:09.279> the<00:14:09.920> lab<00:14:11.000> uh<00:14:12.000> poking<00:14:12.440> at 00:14:12.990 --> 00:14:13.000 align:start position:0% their spare time in the lab uh poking at 00:14:13.000 --> 00:14:16.030 align:start position:0% their spare time in the lab uh poking at uh<00:14:13.720> different<00:14:14.079> kinds<00:14:14.440> of<00:14:15.199> programmability<00:14:15.880> or 00:14:16.030 --> 00:14:16.040 align:start position:0% uh different kinds of programmability or 00:14:16.040 --> 00:14:18.389 align:start position:0% uh different kinds of programmability or smart<00:14:16.399> Contracting<00:14:17.079> that<00:14:17.399> would<00:14:17.680> fit<00:14:18.079> into 00:14:18.389 --> 00:14:18.399 align:start position:0% smart Contracting that would fit into 00:14:18.399 --> 00:14:20.949 align:start position:0% smart Contracting that would fit into the<00:14:18.560> zcash<00:14:19.160> engine<00:14:20.040> and<00:14:20.160> still<00:14:20.399> preserve<00:14:20.759> all 00:14:20.949 --> 00:14:20.959 align:start position:0% the zcash engine and still preserve all 00:14:20.959 --> 00:14:23.350 align:start position:0% the zcash engine and still preserve all the<00:14:21.079> security<00:14:21.480> properties<00:14:21.800> of<00:14:22.120> zcash<00:14:23.120> uh<00:14:23.279> and 00:14:23.350 --> 00:14:23.360 align:start position:0% the security properties of zcash uh and 00:14:23.360 --> 00:14:25.670 align:start position:0% the security properties of zcash uh and then<00:14:23.480> the<00:14:23.639> Third<00:14:23.959> Way<00:14:24.440> is<00:14:24.720> get<00:14:24.880> the<00:14:25.000> zcash<00:14:25.519> and 00:14:25.670 --> 00:14:25.680 align:start position:0% then the Third Way is get the zcash and 00:14:25.680 --> 00:14:28.389 align:start position:0% then the Third Way is get the zcash and ethereum<00:14:26.120> blockchains<00:14:26.680> to<00:14:26.839> connect<00:14:27.519> because 00:14:28.389 --> 00:14:28.399 align:start position:0% ethereum blockchains to connect because 00:14:28.399 --> 00:14:30.189 align:start position:0% ethereum blockchains to connect because whatever<00:14:28.720> happen<00:14:29.279> for<00:14:29.399> the<00:14:29.560> for<00:14:29.680> the<00:14:29.800> next<00:14:30.000> few 00:14:30.189 --> 00:14:30.199 align:start position:0% whatever happen for the for the next few 00:14:30.199 --> 00:14:32.430 align:start position:0% whatever happen for the for the next few years<00:14:30.519> at<00:14:30.639> least<00:14:31.040> both<00:14:31.240> of<00:14:31.519> these<00:14:31.959> blockchains 00:14:32.430 --> 00:14:32.440 align:start position:0% years at least both of these blockchains 00:14:32.440 --> 00:14:35.910 align:start position:0% years at least both of these blockchains are<00:14:32.560> going<00:14:32.680> to<00:14:32.800> be<00:14:33.560> active<00:14:34.560> um<00:14:34.959> entities<00:14:35.639> with 00:14:35.910 --> 00:14:35.920 align:start position:0% are going to be active um entities with 00:14:35.920 --> 00:14:38.470 align:start position:0% are going to be active um entities with a<00:14:36.079> user<00:14:36.399> base<00:14:36.720> and<00:14:37.040> developers<00:14:38.040> around<00:14:38.320> them 00:14:38.470 --> 00:14:38.480 align:start position:0% a user base and developers around them 00:14:38.480 --> 00:14:40.470 align:start position:0% a user base and developers around them and<00:14:38.600> I<00:14:38.680> want<00:14:38.920> the<00:14:39.199> developer<00:14:39.759> communities<00:14:40.279> to 00:14:40.470 --> 00:14:40.480 align:start position:0% and I want the developer communities to 00:14:40.480 --> 00:14:42.910 align:start position:0% and I want the developer communities to be<00:14:40.720> easily<00:14:41.120> able<00:14:41.440> to<00:14:41.800> work 00:14:42.910 --> 00:14:42.920 align:start position:0% be easily able to work 00:14:42.920 --> 00:14:44.829 align:start position:0% be easily able to work together<00:14:43.920> that's<00:14:44.079> what<00:14:44.199> we<00:14:44.279> call<00:14:44.519> Project 00:14:44.829 --> 00:14:44.839 align:start position:0% together that's what we call Project 00:14:44.839 --> 00:14:48.470 align:start position:0% together that's what we call Project Alchemy<00:14:45.320> is<00:14:45.440> to<00:14:45.560> make<00:14:45.680> the<00:14:45.800> zcash<00:14:46.440> and<00:14:47.440> um<00:14:48.360> and 00:14:48.470 --> 00:14:48.480 align:start position:0% Alchemy is to make the zcash and um and 00:14:48.480 --> 00:14:51.069 align:start position:0% Alchemy is to make the zcash and um and ethereum<00:14:48.959> blockchains<00:14:49.920> Inter<00:14:50.279> interoperate 00:14:51.069 --> 00:14:51.079 align:start position:0% ethereum blockchains Inter interoperate 00:14:51.079 --> 00:14:53.230 align:start position:0% ethereum blockchains Inter interoperate so<00:14:51.279> that<00:14:51.399> there's<00:14:51.560> a<00:14:51.759> seamless<00:14:52.560> ability<00:14:52.959> to 00:14:53.230 --> 00:14:53.240 align:start position:0% so that there's a seamless ability to 00:14:53.240 --> 00:14:56.110 align:start position:0% so that there's a seamless ability to move<00:14:53.759> between<00:14:54.079> the<00:14:54.519> two<00:14:55.519> and<00:14:55.680> the<00:14:55.800> way<00:14:55.920> we<00:14:56.000> want 00:14:56.110 --> 00:14:56.120 align:start position:0% move between the two and the way we want 00:14:56.120 --> 00:14:59.829 align:start position:0% move between the two and the way we want to<00:14:56.279> do<00:14:56.480> that<00:14:57.199> is<00:14:57.399> just<00:14:57.639> by<00:14:57.959> cloning<00:14:58.360> BTC<00:14:58.759> relay 00:14:59.829 --> 00:14:59.839 align:start position:0% to do that is just by cloning BTC relay 00:14:59.839 --> 00:15:02.990 align:start position:0% to do that is just by cloning BTC relay uh<00:14:59.959> BTC<00:15:00.360> relay<00:15:00.639> is<00:15:00.720> an<00:15:00.839> ethereum<00:15:01.320> script<00:15:02.320> uh 00:15:02.990 --> 00:15:03.000 align:start position:0% uh BTC relay is an ethereum script uh 00:15:03.000 --> 00:15:05.710 align:start position:0% uh BTC relay is an ethereum script uh that<00:15:03.199> Joseph<00:15:03.480> chow<00:15:03.800> and<00:15:04.000> others<00:15:04.440> have<00:15:04.920> written 00:15:05.710 --> 00:15:05.720 align:start position:0% that Joseph chow and others have written 00:15:05.720 --> 00:15:09.350 align:start position:0% that Joseph chow and others have written which<00:15:05.920> makes<00:15:06.440> basically<00:15:07.120> a<00:15:08.120> uh<00:15:08.440> a<00:15:08.600> Bitcoin 00:15:09.350 --> 00:15:09.360 align:start position:0% which makes basically a uh a Bitcoin 00:15:09.360 --> 00:15:12.350 align:start position:0% which makes basically a uh a Bitcoin light<00:15:09.720> client<00:15:10.160> inside<00:15:10.519> ethereum<00:15:11.160> and<00:15:11.320> so<00:15:12.240> uh 00:15:12.350 --> 00:15:12.360 align:start position:0% light client inside ethereum and so uh 00:15:12.360 --> 00:15:16.430 align:start position:0% light client inside ethereum and so uh our<00:15:12.680> project<00:15:13.199> is<00:15:13.399> to<00:15:14.160> change<00:15:14.560> that<00:15:14.720> to<00:15:14.920> make<00:15:15.480> a 00:15:16.430 --> 00:15:16.440 align:start position:0% our project is to change that to make a 00:15:16.440 --> 00:15:20.749 align:start position:0% our project is to change that to make a zcash<00:15:17.240> light<00:15:17.560> client<00:15:17.959> inside<00:15:18.240> of<00:15:18.800> ethereum<00:15:19.800> um 00:15:20.749 --> 00:15:20.759 align:start position:0% zcash light client inside of ethereum um 00:15:20.759 --> 00:15:22.710 align:start position:0% zcash light client inside of ethereum um and<00:15:20.920> Jaden<00:15:21.279> hes<00:15:21.600> from<00:15:21.800> consensus<00:15:22.279> has<00:15:22.440> helped 00:15:22.710 --> 00:15:22.720 align:start position:0% and Jaden hes from consensus has helped 00:15:22.720 --> 00:15:27.069 align:start position:0% and Jaden hes from consensus has helped with<00:15:22.880> this<00:15:23.600> already<00:15:24.600> and<00:15:25.480> uh<00:15:26.480> sorry<00:15:26.800> I<00:15:26.880> keep 00:15:27.069 --> 00:15:27.079 align:start position:0% with this already and uh sorry I keep 00:15:27.079 --> 00:15:28.590 align:start position:0% with this already and uh sorry I keep hitting<00:15:27.440> I'm<00:15:27.560> just<00:15:27.720> nervously<00:15:28.160> clicking<00:15:28.480> the 00:15:28.590 --> 00:15:28.600 align:start position:0% hitting I'm just nervously clicking the 00:15:28.600 --> 00:15:32.230 align:start position:0% hitting I'm just nervously clicking the button<00:15:29.079> not<00:15:29.399> trying<00:15:29.680> to<00:15:29.839> change<00:15:30.160> my<00:15:30.480> slides 00:15:32.230 --> 00:15:32.240 align:start position:0% button not trying to change my slides 00:15:32.240 --> 00:15:35.030 align:start position:0% button not trying to change my slides um<00:15:33.240> so<00:15:33.440> once<00:15:33.600> you<00:15:33.800> have<00:15:34.040> that<00:15:34.199> once<00:15:34.360> you<00:15:34.560> have<00:15:34.839> a 00:15:35.030 --> 00:15:35.040 align:start position:0% um so once you have that once you have a 00:15:35.040 --> 00:15:37.509 align:start position:0% um so once you have that once you have a an<00:15:35.199> ethereum<00:15:35.600> script<00:15:35.959> that<00:15:36.160> can<00:15:36.519> that<00:15:36.680> can<00:15:37.000> see 00:15:37.509 --> 00:15:37.519 align:start position:0% an ethereum script that can that can see 00:15:37.519 --> 00:15:40.110 align:start position:0% an ethereum script that can that can see transactions<00:15:38.360> from<00:15:38.560> the<00:15:38.720> other 00:15:40.110 --> 00:15:40.120 align:start position:0% transactions from the other 00:15:40.120 --> 00:15:42.749 align:start position:0% transactions from the other blockchain<00:15:41.120> then<00:15:41.399> it's<00:15:41.680> possible<00:15:41.959> to<00:15:42.160> write 00:15:42.749 --> 00:15:42.759 align:start position:0% blockchain then it's possible to write 00:15:42.759 --> 00:15:45.990 align:start position:0% blockchain then it's possible to write uh<00:15:42.920> an<00:15:43.040> ethereum<00:15:43.560> contract<00:15:44.120> that<00:15:44.360> can<00:15:45.000> uh<00:15:45.240> do<00:15:45.720> a 00:15:45.990 --> 00:15:46.000 align:start position:0% uh an ethereum contract that can uh do a 00:15:46.000 --> 00:15:49.030 align:start position:0% uh an ethereum contract that can uh do a trustless<00:15:46.639> swap<00:15:47.480> of<00:15:47.680> zcash<00:15:48.240> for 00:15:49.030 --> 00:15:49.040 align:start position:0% trustless swap of zcash for 00:15:49.040 --> 00:15:52.069 align:start position:0% trustless swap of zcash for ether<00:15:50.040> right<00:15:50.279> because<00:15:50.519> the<00:15:51.199> um<00:15:51.360> the<00:15:51.480> ethereum 00:15:52.069 --> 00:15:52.079 align:start position:0% ether right because the um the ethereum 00:15:52.079 --> 00:15:53.389 align:start position:0% ether right because the um the ethereum contract<00:15:52.519> can 00:15:53.389 --> 00:15:53.399 align:start position:0% contract can 00:15:53.399 --> 00:15:59.030 align:start position:0% contract can say<00:15:54.399> I<00:15:54.519> will<00:15:54.839> pay<00:15:55.160> out<00:15:56.160> 40<00:15:56.720> ether<00:15:57.199> to<00:15:57.399> the<00:15:57.600> first 00:15:59.030 --> 00:15:59.040 align:start position:0% say I will pay out 40 ether to the first 00:15:59.040 --> 00:16:01.670 align:start position:0% say I will pay out 40 ether to the first zcash<00:15:59.600> address<00:16:00.240> which<00:16:00.399> send<00:16:00.800> or<00:16:01.120> to<00:16:01.279> the<00:16:01.399> first 00:16:01.670 --> 00:16:01.680 align:start position:0% zcash address which send or to the first 00:16:01.680 --> 00:16:04.389 align:start position:0% zcash address which send or to the first address<00:16:02.000> of<00:16:02.160> your<00:16:02.360> choice<00:16:02.720> which<00:16:02.880> sends<00:16:03.839> z<00:16:04.279> a 00:16:04.389 --> 00:16:04.399 align:start position:0% address of your choice which sends z a 00:16:04.399 --> 00:16:06.629 align:start position:0% address of your choice which sends z a certain<00:16:04.720> amount<00:16:05.440> like<00:16:05.680> five<00:16:05.959> zcash<00:16:06.399> to<00:16:06.519> a 00:16:06.629 --> 00:16:06.639 align:start position:0% certain amount like five zcash to a 00:16:06.639 --> 00:16:09.430 align:start position:0% certain amount like five zcash to a certain<00:16:07.120> zcash<00:16:07.680> address<00:16:08.680> and<00:16:08.800> then<00:16:09.000> once<00:16:09.160> it's 00:16:09.430 --> 00:16:09.440 align:start position:0% certain zcash address and then once it's 00:16:09.440 --> 00:16:12.230 align:start position:0% certain zcash address and then once it's posted<00:16:10.000> that<00:16:10.519> offer<00:16:11.240> a 00:16:12.230 --> 00:16:12.240 align:start position:0% posted that offer a 00:16:12.240 --> 00:16:15.749 align:start position:0% posted that offer a zcash<00:16:13.240> programmer<00:16:13.880> user<00:16:14.440> can<00:16:14.639> fulfill<00:16:15.199> that 00:16:15.749 --> 00:16:15.759 align:start position:0% zcash programmer user can fulfill that 00:16:15.759 --> 00:16:17.389 align:start position:0% zcash programmer user can fulfill that and<00:16:15.880> then<00:16:16.040> the<00:16:16.160> ethereum<00:16:16.680> contract<00:16:17.120> will 00:16:17.389 --> 00:16:17.399 align:start position:0% and then the ethereum contract will 00:16:17.399 --> 00:16:19.350 align:start position:0% and then the ethereum contract will fulfill<00:16:17.800> its<00:16:18.040> side<00:16:18.399> right<00:16:18.560> so<00:16:19.040> there<00:16:19.160> was 00:16:19.350 --> 00:16:19.360 align:start position:0% fulfill its side right so there was 00:16:19.360 --> 00:16:22.030 align:start position:0% fulfill its side right so there was never<00:16:19.560> an<00:16:19.720> opportunity<00:16:20.199> for<00:16:20.480> either<00:16:20.839> side<00:16:21.240> to 00:16:22.030 --> 00:16:22.040 align:start position:0% never an opportunity for either side to 00:16:22.040 --> 00:16:24.550 align:start position:0% never an opportunity for either side to uh<00:16:22.199> take<00:16:22.440> off<00:16:22.600> with<00:16:22.759> the<00:16:22.839> other<00:16:23.120> side's 00:16:24.550 --> 00:16:24.560 align:start position:0% uh take off with the other side's 00:16:24.560 --> 00:16:27.309 align:start position:0% uh take off with the other side's tokens 00:16:27.309 --> 00:16:27.319 align:start position:0% tokens 00:16:27.319 --> 00:16:30.590 align:start position:0% tokens um<00:16:28.319> and<00:16:28.440> there's<00:16:28.920> there's<00:16:29.120> a<00:16:30.120> a<00:16:30.240> bunch<00:16:30.399> of 00:16:30.590 --> 00:16:30.600 align:start position:0% um and there's there's a a bunch of 00:16:30.600 --> 00:16:33.030 align:start position:0% um and there's there's a a bunch of complicated<00:16:31.199> like<00:16:31.399> game<00:16:31.680> theoretic<00:16:32.440> problems 00:16:33.030 --> 00:16:33.040 align:start position:0% complicated like game theoretic problems 00:16:33.040 --> 00:16:35.350 align:start position:0% complicated like game theoretic problems that<00:16:33.279> arise<00:16:33.759> from<00:16:34.000> that<00:16:34.519> uh<00:16:34.720> which<00:16:35.040> Joseph 00:16:35.350 --> 00:16:35.360 align:start position:0% that arise from that uh which Joseph 00:16:35.360 --> 00:16:37.230 align:start position:0% that arise from that uh which Joseph Chow<00:16:35.680> has<00:16:35.800> thought<00:16:35.959> a<00:16:36.040> lot<00:16:36.240> about<00:16:36.600> I<00:16:36.720> hope<00:16:37.160> I 00:16:37.230 --> 00:16:37.240 align:start position:0% Chow has thought a lot about I hope I 00:16:37.240 --> 00:16:41.030 align:start position:0% Chow has thought a lot about I hope I mean<00:16:37.360> he<00:16:37.480> seems<00:16:37.800> to<00:16:38.800> have<00:16:39.680> uh<00:16:40.160> and<00:16:40.319> hopefully 00:16:41.030 --> 00:16:41.040 align:start position:0% mean he seems to have uh and hopefully 00:16:41.040 --> 00:16:43.749 align:start position:0% mean he seems to have uh and hopefully we<00:16:41.160> can<00:16:41.279> just<00:16:41.480> benefit<00:16:41.920> from<00:16:42.079> all<00:16:42.240> of<00:16:42.440> that 00:16:43.749 --> 00:16:43.759 align:start position:0% we can just benefit from all of that 00:16:43.759 --> 00:16:49.189 align:start position:0% we can just benefit from all of that research<00:16:44.759> um<00:16:45.480> and<00:16:45.680> also<00:16:46.639> I<00:16:46.839> think<00:16:47.519> the<00:16:48.199> Raiden 00:16:49.189 --> 00:16:49.199 align:start position:0% research um and also I think the Raiden 00:16:49.199 --> 00:16:51.230 align:start position:0% research um and also I think the Raiden uh<00:16:49.399> design<00:16:49.920> also<00:16:50.279> tries<00:16:50.519> to<00:16:50.639> solve<00:16:50.880> the<00:16:51.000> same 00:16:51.230 --> 00:16:51.240 align:start position:0% uh design also tries to solve the same 00:16:51.240 --> 00:16:53.389 align:start position:0% uh design also tries to solve the same problem<00:16:51.480> so<00:16:51.639> maybe<00:16:51.839> we<00:16:51.959> could<00:16:52.079> use<00:16:52.480> that<00:16:52.800> or 00:16:53.389 --> 00:16:53.399 align:start position:0% problem so maybe we could use that or 00:16:53.399 --> 00:17:00.309 align:start position:0% problem so maybe we could use that or its<00:16:53.600> Solutions<00:16:54.319> instead<00:16:55.319> but<00:16:55.800> uh 00:17:00.309 --> 00:17:00.319 align:start position:0% 00:17:00.319 --> 00:17:02.829 align:start position:0% the<00:17:00.440> end<00:17:00.680> result<00:17:01.000> of<00:17:01.199> that<00:17:01.519> is<00:17:01.759> two<00:17:02.079> things<00:17:02.720> if 00:17:02.829 --> 00:17:02.839 align:start position:0% the end result of that is two things if 00:17:02.839 --> 00:17:04.630 align:start position:0% the end result of that is two things if you<00:17:03.040> get<00:17:03.160> if<00:17:03.240> you<00:17:03.399> get<00:17:03.560> that<00:17:03.800> if<00:17:03.880> we<00:17:04.039> get<00:17:04.199> that 00:17:04.630 --> 00:17:04.640 align:start position:0% you get if you get that if we get that 00:17:04.640 --> 00:17:07.470 align:start position:0% you get if you get that if we get that working<00:17:05.640> we<00:17:05.760> get<00:17:05.919> two<00:17:06.079> things<00:17:06.319> out<00:17:06.439> of<00:17:06.600> it<00:17:07.240> and 00:17:07.470 --> 00:17:07.480 align:start position:0% working we get two things out of it and 00:17:07.480 --> 00:17:08.909 align:start position:0% working we get two things out of it and and<00:17:07.799> this<00:17:07.880> is<00:17:08.039> the<00:17:08.120> one<00:17:08.240> I'm<00:17:08.400> most<00:17:08.600> excited 00:17:08.909 --> 00:17:08.919 align:start position:0% and this is the one I'm most excited 00:17:08.919 --> 00:17:10.549 align:start position:0% and this is the one I'm most excited about<00:17:09.160> out<00:17:09.240> of<00:17:09.400> the<00:17:09.520> three<00:17:09.760> ways<00:17:10.240> these<00:17:10.400> are 00:17:10.549 --> 00:17:10.559 align:start position:0% about out of the three ways these are 00:17:10.559 --> 00:17:12.990 align:start position:0% about out of the three ways these are all<00:17:10.760> cool<00:17:11.160> and<00:17:11.319> we're<00:17:12.000> contributing<00:17:12.559> to<00:17:12.839> all 00:17:12.990 --> 00:17:13.000 align:start position:0% all cool and we're contributing to all 00:17:13.000 --> 00:17:15.549 align:start position:0% all cool and we're contributing to all of<00:17:13.360> them<00:17:14.360> uh<00:17:14.640> but<00:17:14.959> the<00:17:15.039> one<00:17:15.120> that<00:17:15.240> I'm<00:17:15.360> most 00:17:15.549 --> 00:17:15.559 align:start position:0% of them uh but the one that I'm most 00:17:15.559 --> 00:17:16.990 align:start position:0% of them uh but the one that I'm most excited<00:17:15.880> about<00:17:16.039> is<00:17:16.199> number<00:17:16.439> three<00:17:16.760> because 00:17:16.990 --> 00:17:17.000 align:start position:0% excited about is number three because 00:17:17.000 --> 00:17:18.429 align:start position:0% excited about is number three because that's<00:17:17.199> the<00:17:17.280> one<00:17:17.400> that<00:17:17.520> can<00:17:17.640> be<00:17:17.799> deployed<00:17:18.240> and 00:17:18.429 --> 00:17:18.439 align:start position:0% that's the one that can be deployed and 00:17:18.439 --> 00:17:19.710 align:start position:0% that's the one that can be deployed and people<00:17:18.600> can<00:17:18.760> start<00:17:18.959> using<00:17:19.199> it<00:17:19.319> and<00:17:19.439> building 00:17:19.710 --> 00:17:19.720 align:start position:0% people can start using it and building 00:17:19.720 --> 00:17:23.390 align:start position:0% people can start using it and building on<00:17:19.839> it<00:17:20.000> the<00:17:20.079> soonest<00:17:20.559> I<00:17:21.079> think<00:17:22.079> so<00:17:23.000> uh<00:17:23.120> if<00:17:23.240> we 00:17:23.390 --> 00:17:23.400 align:start position:0% on it the soonest I think so uh if we 00:17:23.400 --> 00:17:25.870 align:start position:0% on it the soonest I think so uh if we get<00:17:23.600> this<00:17:24.199> deployed<00:17:24.959> the<00:17:25.079> first<00:17:25.319> thing<00:17:25.559> is<00:17:25.760> is 00:17:25.870 --> 00:17:25.880 align:start position:0% get this deployed the first thing is is 00:17:25.880 --> 00:17:28.029 align:start position:0% get this deployed the first thing is is a<00:17:26.000> decentralized<00:17:26.959> currency<00:17:27.400> exchange<00:17:27.880> right 00:17:28.029 --> 00:17:28.039 align:start position:0% a decentralized currency exchange right 00:17:28.039 --> 00:17:30.990 align:start position:0% a decentralized currency exchange right there<00:17:28.280> so<00:17:28.919> if<00:17:29.039> all<00:17:29.240> the<00:17:29.320> currency<00:17:30.000> exchanges 00:17:30.990 --> 00:17:31.000 align:start position:0% there so if all the currency exchanges 00:17:31.000 --> 00:17:33.150 align:start position:0% there so if all the currency exchanges have<00:17:31.360> failed<00:17:32.360> uh<00:17:32.480> or<00:17:32.600> if<00:17:32.679> you<00:17:32.799> live<00:17:32.919> in<00:17:33.039> a 00:17:33.150 --> 00:17:33.160 align:start position:0% have failed uh or if you live in a 00:17:33.160 --> 00:17:35.750 align:start position:0% have failed uh or if you live in a country<00:17:33.520> where<00:17:33.679> you<00:17:33.960> can't<00:17:34.679> use<00:17:34.960> a<00:17:35.120> currency 00:17:35.750 --> 00:17:35.760 align:start position:0% country where you can't use a currency 00:17:35.760 --> 00:17:38.390 align:start position:0% country where you can't use a currency exchange<00:17:36.760> um<00:17:36.919> or<00:17:37.080> something<00:17:37.360> like<00:17:37.559> that<00:17:38.080> but 00:17:38.390 --> 00:17:38.400 align:start position:0% exchange um or something like that but 00:17:38.400 --> 00:17:40.909 align:start position:0% exchange um or something like that but you<00:17:38.600> still<00:17:39.000> have<00:17:39.559> ethereum<00:17:40.120> and<00:17:40.280> zcash 00:17:40.909 --> 00:17:40.919 align:start position:0% you still have ethereum and zcash 00:17:40.919 --> 00:17:43.750 align:start position:0% you still have ethereum and zcash blockchains<00:17:41.600> you<00:17:41.720> can<00:17:41.880> use<00:17:42.240> this<00:17:42.559> to<00:17:42.880> swap 00:17:43.750 --> 00:17:43.760 align:start position:0% blockchains you can use this to swap 00:17:43.760 --> 00:17:46.470 align:start position:0% blockchains you can use this to swap ether<00:17:44.120> for<00:17:44.440> zcash<00:17:45.120> with<00:17:45.280> no<00:17:45.720> third<00:17:46.039> party<00:17:46.320> and 00:17:46.470 --> 00:17:46.480 align:start position:0% ether for zcash with no third party and 00:17:46.480 --> 00:17:48.789 align:start position:0% ether for zcash with no third party and no<00:17:46.720> vulner<00:17:47.120> extra<00:17:47.400> vulnerability<00:17:48.280> so<00:17:48.480> I<00:17:48.559> think 00:17:48.789 --> 00:17:48.799 align:start position:0% no vulner extra vulnerability so I think 00:17:48.799 --> 00:17:50.510 align:start position:0% no vulner extra vulnerability so I think that's<00:17:49.320> awesome<00:17:49.720> that's<00:17:49.919> very<00:17:50.160> highly 00:17:50.510 --> 00:17:50.520 align:start position:0% that's awesome that's very highly 00:17:50.520 --> 00:17:53.590 align:start position:0% that's awesome that's very highly resilient<00:17:51.240> and<00:17:52.200> um<00:17:53.000> you<00:17:53.120> know<00:17:53.280> if<00:17:53.360> that<00:17:53.480> were 00:17:53.590 --> 00:17:53.600 align:start position:0% resilient and um you know if that were 00:17:53.600 --> 00:17:55.789 align:start position:0% resilient and um you know if that were to<00:17:53.720> get<00:17:53.799> bootstrapped<00:17:54.440> and<00:17:54.640> become<00:17:55.440> widely 00:17:55.789 --> 00:17:55.799 align:start position:0% to get bootstrapped and become widely 00:17:55.799 --> 00:17:57.990 align:start position:0% to get bootstrapped and become widely used<00:17:56.240> then<00:17:56.400> it's<00:17:56.840> uh<00:17:56.960> one<00:17:57.080> of<00:17:57.240> those<00:17:57.440> unshut 00:17:57.990 --> 00:17:58.000 align:start position:0% used then it's uh one of those unshut 00:17:58.000 --> 00:17:59.630 align:start position:0% used then it's uh one of those unshut downable<00:17:58.400> kind<00:17:58.520> of<00:17:58.640> things<00:17:58.880> things<00:17:59.120> it's<00:17:59.320> a<00:17:59.520> a 00:17:59.630 --> 00:17:59.640 align:start position:0% downable kind of things things it's a a 00:17:59.640 --> 00:18:02.190 align:start position:0% downable kind of things things it's a a general<00:18:00.039> purpose<00:18:00.400> utility<00:18:00.919> for<00:18:01.200> everyone<00:18:01.640> to 00:18:02.190 --> 00:18:02.200 align:start position:0% general purpose utility for everyone to 00:18:02.200 --> 00:18:06.549 align:start position:0% general purpose utility for everyone to rely<00:18:02.520> on<00:18:02.760> after<00:18:03.280> that<00:18:04.280> maybe<00:18:05.080> I<00:18:05.200> love<00:18:05.400> the<00:18:05.559> idea 00:18:06.549 --> 00:18:06.559 align:start position:0% rely on after that maybe I love the idea 00:18:06.559 --> 00:18:08.190 align:start position:0% rely on after that maybe I love the idea uh<00:18:06.679> but<00:18:06.799> the<00:18:06.919> other<00:18:07.120> thing<00:18:07.280> is<00:18:07.440> if<00:18:07.640> that<00:18:07.799> gets 00:18:08.190 --> 00:18:08.200 align:start position:0% uh but the other thing is if that gets 00:18:08.200 --> 00:18:10.510 align:start position:0% uh but the other thing is if that gets going<00:18:08.480> if<00:18:08.600> you<00:18:08.760> have<00:18:09.000> those<00:18:09.240> contracts<00:18:10.240> on<00:18:10.400> the 00:18:10.510 --> 00:18:10.520 align:start position:0% going if you have those contracts on the 00:18:10.520 --> 00:18:12.669 align:start position:0% going if you have those contracts on the ethereum<00:18:11.000> blockchain<00:18:11.760> then<00:18:11.919> that<00:18:12.039> means 00:18:12.669 --> 00:18:12.679 align:start position:0% ethereum blockchain then that means 00:18:12.679 --> 00:18:16.110 align:start position:0% ethereum blockchain then that means ethereum<00:18:13.679> contracts<00:18:14.400> gain<00:18:14.640> a<00:18:14.880> new<00:18:15.440> power<00:18:16.000> this 00:18:16.110 --> 00:18:16.120 align:start position:0% ethereum contracts gain a new power this 00:18:16.120 --> 00:18:17.710 align:start position:0% ethereum contracts gain a new power this is<00:18:16.320> the<00:18:16.480> awesome<00:18:16.799> thing<00:18:16.960> about<00:18:17.159> ethereum 00:18:17.710 --> 00:18:17.720 align:start position:0% is the awesome thing about ethereum 00:18:17.720 --> 00:18:20.510 align:start position:0% is the awesome thing about ethereum which<00:18:18.480> I<00:18:18.559> don't<00:18:19.080> understand<00:18:19.840> very<00:18:20.039> well<00:18:20.320> but 00:18:20.510 --> 00:18:20.520 align:start position:0% which I don't understand very well but 00:18:20.520 --> 00:18:22.950 align:start position:0% which I don't understand very well but the<00:18:21.200> the<00:18:21.360> exciting<00:18:21.760> thing<00:18:21.919> about<00:18:22.120> it<00:18:22.280> is<00:18:22.520> that 00:18:22.950 --> 00:18:22.960 align:start position:0% the the exciting thing about it is that 00:18:22.960 --> 00:18:24.950 align:start position:0% the the exciting thing about it is that every<00:18:23.200> time<00:18:23.440> someone<00:18:23.799> adds<00:18:24.000> a<00:18:24.200> new<00:18:24.520> contract 00:18:24.950 --> 00:18:24.960 align:start position:0% every time someone adds a new contract 00:18:24.960 --> 00:18:27.070 align:start position:0% every time someone adds a new contract to<00:18:25.080> the<00:18:25.240> ethereum<00:18:26.039> blockchain<00:18:26.640> this<00:18:26.799> gives 00:18:27.070 --> 00:18:27.080 align:start position:0% to the ethereum blockchain this gives 00:18:27.080 --> 00:18:28.990 align:start position:0% to the ethereum blockchain this gives all<00:18:27.240> the<00:18:27.400> other<00:18:27.640> contracts<00:18:28.200> the<00:18:28.320> possibility 00:18:28.990 --> 00:18:29.000 align:start position:0% all the other contracts the possibility 00:18:29.000 --> 00:18:31.430 align:start position:0% all the other contracts the possibility to<00:18:29.120> do<00:18:29.280> something<00:18:29.559> new<00:18:29.960> without<00:18:30.960> without<00:18:31.240> as 00:18:31.430 --> 00:18:31.440 align:start position:0% to do something new without without as 00:18:31.440 --> 00:18:33.630 align:start position:0% to do something new without without as much<00:18:31.919> coordination<00:18:32.520> and<00:18:32.840> planning<00:18:33.280> between 00:18:33.630 --> 00:18:33.640 align:start position:0% much coordination and planning between 00:18:33.640 --> 00:18:36.470 align:start position:0% much coordination and planning between the<00:18:33.799> different<00:18:34.159> coders<00:18:35.039> so<00:18:35.640> if<00:18:35.799> we<00:18:36.000> succeed<00:18:36.360> at 00:18:36.470 --> 00:18:36.480 align:start position:0% the different coders so if we succeed at 00:18:36.480 --> 00:18:37.630 align:start position:0% the different coders so if we succeed at getting<00:18:36.799> this 00:18:37.630 --> 00:18:37.640 align:start position:0% getting this 00:18:37.640 --> 00:18:39.990 align:start position:0% getting this done<00:18:38.640> then<00:18:38.960> all<00:18:39.120> the<00:18:39.240> other<00:18:39.480> ethereum 00:18:39.990 --> 00:18:40.000 align:start position:0% done then all the other ethereum 00:18:40.000 --> 00:18:42.230 align:start position:0% done then all the other ethereum contracts<00:18:40.480> gain<00:18:40.760> the<00:18:40.919> ability 00:18:42.230 --> 00:18:42.240 align:start position:0% contracts gain the ability 00:18:42.240 --> 00:18:45.870 align:start position:0% contracts gain the ability to<00:18:43.400> um<00:18:44.400> send<00:18:44.760> and<00:18:44.919> receive 00:18:45.870 --> 00:18:45.880 align:start position:0% to um send and receive 00:18:45.880 --> 00:18:48.390 align:start position:0% to um send and receive zcash<00:18:46.880> basically<00:18:47.559> because<00:18:47.720> you<00:18:47.799> can<00:18:48.000> always 00:18:48.390 --> 00:18:48.400 align:start position:0% zcash basically because you can always 00:18:48.400 --> 00:18:50.310 align:start position:0% zcash basically because you can always you<00:18:48.480> can<00:18:48.640> always<00:18:48.880> post<00:18:49.159> a<00:18:49.320> claim 00:18:50.310 --> 00:18:50.320 align:start position:0% you can always post a claim 00:18:50.320 --> 00:18:52.630 align:start position:0% you can always post a claim saying<00:18:51.320> as<00:18:51.440> an<00:18:51.600> ethereum<00:18:52.080> contract<00:18:52.440> you<00:18:52.520> can 00:18:52.630 --> 00:18:52.640 align:start position:0% saying as an ethereum contract you can 00:18:52.640 --> 00:18:55.710 align:start position:0% saying as an ethereum contract you can always<00:18:53.000> post<00:18:53.520> a<00:18:53.720> an<00:18:53.919> offer<00:18:54.400> saying<00:18:55.080> I<00:18:55.200> will<00:18:55.480> pay 00:18:55.710 --> 00:18:55.720 align:start position:0% always post a an offer saying I will pay 00:18:55.720 --> 00:18:59.789 align:start position:0% always post a an offer saying I will pay you<00:18:55.919> if<00:18:56.039> you<00:18:56.240> send<00:18:56.559> zcash<00:18:57.159> there<00:18:58.159> or<00:18:59.080> um 00:18:59.789 --> 00:18:59.799 align:start position:0% you if you send zcash there or um 00:18:59.799 --> 00:19:02.470 align:start position:0% you if you send zcash there or um whatever<00:19:00.799> and<00:19:01.000> if 00:19:02.470 --> 00:19:02.480 align:start position:0% whatever and if 00:19:02.480 --> 00:19:06.350 align:start position:0% whatever and if um<00:19:03.480> if<00:19:03.600> your<00:19:03.799> ethereum<00:19:04.720> contract 00:19:06.350 --> 00:19:06.360 align:start position:0% um if your ethereum contract 00:19:06.360 --> 00:19:07.909 align:start position:0% um if your ethereum contract receives 00:19:07.909 --> 00:19:07.919 align:start position:0% receives 00:19:07.919 --> 00:19:11.230 align:start position:0% receives zcash<00:19:08.919> then<00:19:09.559> if<00:19:09.679> it<00:19:09.760> were<00:19:09.960> sent<00:19:10.640> encrypted<00:19:11.120> on 00:19:11.230 --> 00:19:11.240 align:start position:0% zcash then if it were sent encrypted on 00:19:11.240 --> 00:19:12.669 align:start position:0% zcash then if it were sent encrypted on the<00:19:11.320> zcash<00:19:11.760> blockchain<00:19:12.159> no<00:19:12.240> one<00:19:12.360> can<00:19:12.480> tell 00:19:12.669 --> 00:19:12.679 align:start position:0% the zcash blockchain no one can tell 00:19:12.679 --> 00:19:14.950 align:start position:0% the zcash blockchain no one can tell where<00:19:12.799> it<00:19:12.960> came<00:19:13.159> from<00:19:13.559> but<00:19:13.720> they<00:19:13.840> can<00:19:13.960> always 00:19:14.950 --> 00:19:14.960 align:start position:0% where it came from but they can always 00:19:14.960 --> 00:19:17.310 align:start position:0% where it came from but they can always see<00:19:15.960> who<00:19:16.200> has<00:19:16.360> control<00:19:16.640> of<00:19:16.760> it<00:19:16.919> now<00:19:17.120> because 00:19:17.310 --> 00:19:17.320 align:start position:0% see who has control of it now because 00:19:17.320 --> 00:19:18.990 align:start position:0% see who has control of it now because ethereum<00:19:17.799> contracts<00:19:18.240> don't<00:19:18.480> have<00:19:18.760> any 00:19:18.990 --> 00:19:19.000 align:start position:0% ethereum contracts don't have any 00:19:19.000 --> 00:19:21.669 align:start position:0% ethereum contracts don't have any secrets<00:19:19.520> right<00:19:19.640> so<00:19:19.799> everyone<00:19:20.080> can<00:19:20.520> see<00:19:21.520> what 00:19:21.669 --> 00:19:21.679 align:start position:0% secrets right so everyone can see what 00:19:21.679 --> 00:19:23.270 align:start position:0% secrets right so everyone can see what an<00:19:21.840> ethereum<00:19:22.240> contract<00:19:22.520> knows<00:19:22.799> and<00:19:23.000> what<00:19:23.120> it 00:19:23.270 --> 00:19:23.280 align:start position:0% an ethereum contract knows and what it 00:19:23.280 --> 00:19:25.149 align:start position:0% an ethereum contract knows and what it decides<00:19:23.720> so<00:19:23.880> if<00:19:23.960> it<00:19:24.080> decides<00:19:24.360> to<00:19:24.480> send<00:19:24.679> zcash 00:19:25.149 --> 00:19:25.159 align:start position:0% decides so if it decides to send zcash 00:19:25.159 --> 00:19:27.350 align:start position:0% decides so if it decides to send zcash everyone<00:19:25.440> can<00:19:25.600> see<00:19:26.280> to<00:19:26.600> what<00:19:26.840> address<00:19:27.159> it 00:19:27.350 --> 00:19:27.360 align:start position:0% everyone can see to what address it 00:19:27.360 --> 00:19:29.870 align:start position:0% everyone can see to what address it intended<00:19:27.760> to<00:19:27.919> send<00:19:28.120> it 00:19:29.870 --> 00:19:29.880 align:start position:0% intended to send it 00:19:29.880 --> 00:19:31.830 align:start position:0% intended to send it um<00:19:30.280> so<00:19:30.559> it<00:19:30.679> could<00:19:30.880> potentially<00:19:31.280> have<00:19:31.480> privacy 00:19:31.830 --> 00:19:31.840 align:start position:0% um so it could potentially have privacy 00:19:31.840 --> 00:19:34.190 align:start position:0% um so it could potentially have privacy on<00:19:31.960> the<00:19:32.320> incoming<00:19:33.320> transaction<00:19:33.840> and<00:19:33.960> not<00:19:34.080> on 00:19:34.190 --> 00:19:34.200 align:start position:0% on the incoming transaction and not on 00:19:34.200 --> 00:19:36.510 align:start position:0% on the incoming transaction and not on the<00:19:34.280> outgoing<00:19:35.039> transaction<00:19:36.039> uh<00:19:36.200> but<00:19:36.320> that's 00:19:36.510 --> 00:19:36.520 align:start position:0% the outgoing transaction uh but that's 00:19:36.520 --> 00:19:40.430 align:start position:0% the outgoing transaction uh but that's okay<00:19:36.960> because<00:19:37.440> privacy<00:19:37.919> is<00:19:38.240> a<00:19:39.240> a<00:19:39.640> social 00:19:40.430 --> 00:19:40.440 align:start position:0% okay because privacy is a a social 00:19:40.440 --> 00:19:42.789 align:start position:0% okay because privacy is a a social systemwide<00:19:41.440> network<00:19:41.919> property<00:19:42.320> anyway<00:19:42.679> it's 00:19:42.789 --> 00:19:42.799 align:start position:0% systemwide network property anyway it's 00:19:42.799 --> 00:19:45.149 align:start position:0% systemwide network property anyway it's not<00:19:42.960> an<00:19:43.120> atomic<00:19:43.559> property<00:19:43.840> of<00:19:44.159> individual 00:19:45.149 --> 00:19:45.159 align:start position:0% not an atomic property of individual 00:19:45.159 --> 00:19:47.870 align:start position:0% not an atomic property of individual transactions<00:19:45.799> so<00:19:46.000> much<00:19:46.840> so<00:19:47.240> basically<00:19:47.760> it 00:19:47.870 --> 00:19:47.880 align:start position:0% transactions so much so basically it 00:19:47.880 --> 00:19:49.789 align:start position:0% transactions so much so basically it seems<00:19:48.240> like<00:19:48.640> it<00:19:48.799> might<00:19:49.039> make<00:19:49.280> ethereum 00:19:49.789 --> 00:19:49.799 align:start position:0% seems like it might make ethereum 00:19:49.799 --> 00:19:53.230 align:start position:0% seems like it might make ethereum contracts<00:19:50.360> able<00:19:50.760> to<00:19:51.720> send<00:19:52.000> and 00:19:53.230 --> 00:19:53.240 align:start position:0% contracts able to send and 00:19:53.240 --> 00:20:01.110 align:start position:0% contracts able to send and receive<00:19:54.240> more<00:19:54.400> or<00:19:54.559> less<00:19:54.799> privately 00:20:01.110 --> 00:20:01.120 align:start position:0% 00:20:01.120 --> 00:20:03.149 align:start position:0% well<00:20:02.120> we<00:20:02.280> haven't<00:20:02.480> been<00:20:02.640> making<00:20:02.919> much 00:20:03.149 --> 00:20:03.159 align:start position:0% well we haven't been making much 00:20:03.159 --> 00:20:04.909 align:start position:0% well we haven't been making much progress<00:20:03.520> on<00:20:03.720> this<00:20:03.919> project<00:20:04.200> in<00:20:04.360> the<00:20:04.559> last 00:20:04.909 --> 00:20:04.919 align:start position:0% progress on this project in the last 00:20:04.919 --> 00:20:08.710 align:start position:0% progress on this project in the last couple<00:20:05.120> of<00:20:05.280> months<00:20:06.000> because<00:20:07.000> um<00:20:07.840> October<00:20:08.200> 28 00:20:08.710 --> 00:20:08.720 align:start position:0% couple of months because um October 28 00:20:08.720 --> 00:20:10.350 align:start position:0% couple of months because um October 28 is<00:20:08.840> our<00:20:09.000> launch<00:20:09.280> date<00:20:09.480> for<00:20:09.640> zcash<00:20:10.080> and<00:20:10.200> it's 00:20:10.350 --> 00:20:10.360 align:start position:0% is our launch date for zcash and it's 00:20:10.360 --> 00:20:11.909 align:start position:0% is our launch date for zcash and it's coming<00:20:10.559> up<00:20:10.760> fast<00:20:11.120> like<00:20:11.360> five<00:20:11.559> weeks<00:20:11.799> or 00:20:11.909 --> 00:20:11.919 align:start position:0% coming up fast like five weeks or 00:20:11.919 --> 00:20:16.669 align:start position:0% coming up fast like five weeks or something<00:20:12.200> from<00:20:12.400> now<00:20:13.400> um<00:20:14.400> so<00:20:15.360> hopefully<00:20:16.360> uh 00:20:16.669 --> 00:20:16.679 align:start position:0% something from now um so hopefully uh 00:20:16.679 --> 00:20:18.909 align:start position:0% something from now um so hopefully uh we'll<00:20:16.880> make<00:20:17.080> more<00:20:17.320> progress<00:20:17.720> on<00:20:18.200> the<00:20:18.760> uh 00:20:18.909 --> 00:20:18.919 align:start position:0% we'll make more progress on the uh 00:20:18.919 --> 00:20:21.669 align:start position:0% we'll make more progress on the uh project<00:20:19.240> Alchemy<00:20:19.760> and<00:20:19.919> the<00:20:20.039> other<00:20:20.320> two<00:20:21.159> um 00:20:21.669 --> 00:20:21.679 align:start position:0% project Alchemy and the other two um 00:20:21.679 --> 00:20:24.070 align:start position:0% project Alchemy and the other two um after<00:20:22.039> that<00:20:22.919> uh<00:20:23.039> and<00:20:23.159> in<00:20:23.280> the<00:20:23.400> meantime<00:20:23.840> other 00:20:24.070 --> 00:20:24.080 align:start position:0% after that uh and in the meantime other 00:20:24.080 --> 00:20:26.470 align:start position:0% after that uh and in the meantime other people<00:20:24.400> have<00:20:24.559> been<00:20:24.760> making<00:20:25.039> some<00:20:25.320> progress<00:20:26.280> uh 00:20:26.470 --> 00:20:26.480 align:start position:0% people have been making some progress uh 00:20:26.480 --> 00:20:29.350 align:start position:0% people have been making some progress uh contri<00:20:27.000> contributing<00:20:27.559> to<00:20:27.720> it<00:20:28.000> so<00:20:28.919> uh<00:20:29.159> you 00:20:29.350 --> 00:20:29.360 align:start position:0% contri contributing to it so uh you 00:20:29.360 --> 00:20:30.950 align:start position:0% contri contributing to it so uh you should<00:20:29.799> if<00:20:29.919> you<00:20:30.039> find<00:20:30.280> this<00:20:30.440> interesting<00:20:30.840> at 00:20:30.950 --> 00:20:30.960 align:start position:0% should if you find this interesting at 00:20:30.960 --> 00:20:33.190 align:start position:0% should if you find this interesting at all<00:20:31.200> you<00:20:31.320> should<00:20:31.600> just<00:20:32.039> reach 00:20:33.190 --> 00:20:33.200 align:start position:0% all you should just reach 00:20:33.200 --> 00:20:35.390 align:start position:0% all you should just reach out<00:20:34.200> um<00:20:34.400> and<00:20:34.559> you<00:20:34.840> you<00:20:34.919> should<00:20:35.080> definitely 00:20:35.390 --> 00:20:35.400 align:start position:0% out um and you you should definitely 00:20:35.400 --> 00:20:38.190 align:start position:0% out um and you you should definitely find<00:20:35.640> me<00:20:36.080> after<00:20:36.360> this<00:20:37.000> talk<00:20:37.919> because<00:20:38.120> I'm 00:20:38.190 --> 00:20:38.200 align:start position:0% find me after this talk because I'm 00:20:38.200 --> 00:20:40.310 align:start position:0% find me after this talk because I'm going<00:20:38.320> to<00:20:38.400> be<00:20:38.840> around<00:20:39.080> at<00:20:39.200> the<00:20:39.320> conference<00:20:40.200> the 00:20:40.310 --> 00:20:40.320 align:start position:0% going to be around at the conference the 00:20:40.320 --> 00:20:42.830 align:start position:0% going to be around at the conference the whole 00:20:42.830 --> 00:20:42.840 align:start position:0% 00:20:42.840 --> 00:20:46.590 align:start position:0% time<00:20:43.840> and<00:20:44.840> um<00:20:45.840> I<00:20:45.919> think<00:20:46.039> that's<00:20:46.200> all<00:20:46.320> I<00:20:46.400> have<00:20:46.520> to 00:20:46.590 --> 00:20:46.600 align:start position:0% time and um I think that's all I have to 00:20:46.600 --> 00:20:48.830 align:start position:0% time and um I think that's all I have to say<00:20:46.760> about 00:20:48.830 --> 00:20:48.840 align:start position:0% say about 00:20:48.840 --> 00:20:52.840 align:start position:0% say about that<00:20:49.840> thanks