WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:10.690 align:start position:0% [Applause] 00:00:10.690 --> 00:00:10.700 align:start position:0% 00:00:10.700 --> 00:00:17.150 align:start position:0% okay<00:00:11.700> hi<00:00:15.320> today<00:00:16.320> I'm<00:00:16.619> going<00:00:16.800> to<00:00:16.859> be<00:00:16.980> talking 00:00:17.150 --> 00:00:17.160 align:start position:0% okay hi today I'm going to be talking 00:00:17.160 --> 00:00:19.929 align:start position:0% okay hi today I'm going to be talking about<00:00:17.400> their<00:00:17.849> knowledge<00:00:18.029> cruises<00:00:18.630> and<00:00:18.810> how 00:00:19.929 --> 00:00:19.939 align:start position:0% about their knowledge cruises and how 00:00:19.939 --> 00:00:22.189 align:start position:0% about their knowledge cruises and how zero<00:00:20.939> knowledge<00:00:21.090> proof<00:00:21.210> kind<00:00:21.720> of<00:00:21.779> enabled 00:00:22.189 --> 00:00:22.199 align:start position:0% zero knowledge proof kind of enabled 00:00:22.199 --> 00:00:24.650 align:start position:0% zero knowledge proof kind of enabled beautiful<00:00:22.770> coexist<00:00:23.400> with<00:00:23.820> privacy<00:00:24.300> and 00:00:24.650 --> 00:00:24.660 align:start position:0% beautiful coexist with privacy and 00:00:24.660 --> 00:00:30.470 align:start position:0% beautiful coexist with privacy and príncipe<00:00:25.109> transparently<00:00:25.949> drug<00:00:28.369> first<00:00:29.369> off<00:00:29.579> my 00:00:30.470 --> 00:00:30.480 align:start position:0% príncipe transparently drug first off my 00:00:30.480 --> 00:00:32.359 align:start position:0% príncipe transparently drug first off my name<00:00:30.509> is<00:00:30.779> Anne<00:00:30.930> Rose<00:00:31.169> I'm<00:00:31.469> the<00:00:31.770> co-host<00:00:31.980> of<00:00:32.279> a 00:00:32.359 --> 00:00:32.369 align:start position:0% name is Anne Rose I'm the co-host of a 00:00:32.369 --> 00:00:34.779 align:start position:0% name is Anne Rose I'm the co-host of a podcast<00:00:32.850> called<00:00:33.000> zero<00:00:33.420> knowledge<00:00:33.600> podcast<00:00:34.200> I 00:00:34.779 --> 00:00:34.789 align:start position:0% podcast called zero knowledge podcast I 00:00:34.789 --> 00:00:37.190 align:start position:0% podcast called zero knowledge podcast I also<00:00:35.789> throw<00:00:36.210> an<00:00:36.300> event<00:00:36.390> called<00:00:36.930> thisor 00:00:37.190 --> 00:00:37.200 align:start position:0% also throw an event called thisor 00:00:37.200 --> 00:00:39.319 align:start position:0% also throw an event called thisor knowledge<00:00:37.469> summit<00:00:37.950> and<00:00:38.219> the<00:00:38.760> next<00:00:39.030> one<00:00:39.180> will 00:00:39.319 --> 00:00:39.329 align:start position:0% knowledge summit and the next one will 00:00:39.329 --> 00:00:42.440 align:start position:0% knowledge summit and the next one will be<00:00:39.360> in<00:00:39.449> San<00:00:39.750> Francisco<00:00:40.260> on<00:00:40.500> October<00:00:40.949> 26th<00:00:41.760> so<00:00:42.390> I 00:00:42.440 --> 00:00:42.450 align:start position:0% be in San Francisco on October 26th so I 00:00:42.450 --> 00:00:43.430 align:start position:0% be in San Francisco on October 26th so I hope<00:00:42.600> to<00:00:42.720> see<00:00:42.870> you<00:00:42.930> there 00:00:43.430 --> 00:00:43.440 align:start position:0% hope to see you there 00:00:43.440 --> 00:00:46.520 align:start position:0% hope to see you there just<00:00:43.980> FYI<00:00:44.190> I<00:00:44.400> have<00:00:44.730> a<00:00:44.790> podcast<00:00:45.060> I'm<00:00:45.930> not<00:00:46.230> so 00:00:46.520 --> 00:00:46.530 align:start position:0% just FYI I have a podcast I'm not so 00:00:46.530 --> 00:00:48.229 align:start position:0% just FYI I have a podcast I'm not so used<00:00:46.739> to<00:00:46.920> giving<00:00:47.100> public<00:00:47.460> speaking<00:00:48.060> where 00:00:48.229 --> 00:00:48.239 align:start position:0% used to giving public speaking where 00:00:48.239 --> 00:00:50.090 align:start position:0% used to giving public speaking where there's<00:00:48.480> no<00:00:48.630> editing<00:00:49.020> so<00:00:49.440> please<00:00:49.860> bear<00:00:50.070> with 00:00:50.090 --> 00:00:50.100 align:start position:0% there's no editing so please bear with 00:00:50.100 --> 00:00:55.100 align:start position:0% there's no editing so please bear with me<00:00:52.190> alright<00:00:53.250> I'm<00:00:53.430> speaking<00:00:53.790> this<00:00:54.060> be<00:00:54.450> ten<00:00:54.750> and 00:00:55.100 --> 00:00:55.110 align:start position:0% me alright I'm speaking this be ten and 00:00:55.110 --> 00:00:58.100 align:start position:0% me alright I'm speaking this be ten and I<00:00:55.230> believe<00:00:55.500> this<00:00:55.680> is<00:00:55.739> the<00:00:56.130> privacy<00:00:56.820> track<00:00:57.360> so 00:00:58.100 --> 00:00:58.110 align:start position:0% I believe this is the privacy track so 00:00:58.110 --> 00:00:59.720 align:start position:0% I believe this is the privacy track so I'm<00:00:58.230> sure<00:00:58.440> you've<00:00:58.590> already<00:00:58.800> had<00:00:59.100> the<00:00:59.520> zero 00:00:59.720 --> 00:00:59.730 align:start position:0% I'm sure you've already had the zero 00:00:59.730 --> 00:01:01.250 align:start position:0% I'm sure you've already had the zero knowledge<00:00:59.850> proof<00:00:59.970> defined<00:01:00.690> for<00:01:00.989> you<00:01:01.050> I'm 00:01:01.250 --> 00:01:01.260 align:start position:0% knowledge proof defined for you I'm 00:01:01.260 --> 00:01:04.160 align:start position:0% knowledge proof defined for you I'm assuming<00:01:01.770> that<00:01:01.920> most<00:01:02.070> of<00:01:02.280> you<00:01:02.370> know<00:01:02.550> it<00:01:03.049> but<00:01:04.049> in 00:01:04.160 --> 00:01:04.170 align:start position:0% assuming that most of you know it but in 00:01:04.170 --> 00:01:06.560 align:start position:0% assuming that most of you know it but in case<00:01:04.320> you<00:01:04.469> don't<00:01:04.880> zero<00:01:05.880> knowledge<00:01:06.030> proof<00:01:06.149> is<00:01:06.540> a 00:01:06.560 --> 00:01:06.570 align:start position:0% case you don't zero knowledge proof is a 00:01:06.570 --> 00:01:08.719 align:start position:0% case you don't zero knowledge proof is a technique<00:01:07.079> for<00:01:07.439> showing<00:01:08.280> that<00:01:08.340> a<00:01:08.460> statement 00:01:08.719 --> 00:01:08.729 align:start position:0% technique for showing that a statement 00:01:08.729 --> 00:01:10.670 align:start position:0% technique for showing that a statement is<00:01:08.939> true<00:01:09.119> without<00:01:09.479> revealing<00:01:09.750> any<00:01:10.079> additional 00:01:10.670 --> 00:01:10.680 align:start position:0% is true without revealing any additional 00:01:10.680 --> 00:01:12.740 align:start position:0% is true without revealing any additional information<00:01:10.979> other<00:01:11.490> than<00:01:11.610> the<00:01:12.000> fact<00:01:12.390> that<00:01:12.570> the 00:01:12.740 --> 00:01:12.750 align:start position:0% information other than the fact that the 00:01:12.750 --> 00:01:14.870 align:start position:0% information other than the fact that the statement<00:01:13.140> is<00:01:13.229> true<00:01:13.259> so<00:01:14.189> for<00:01:14.340> example<00:01:14.700> if<00:01:14.789> I 00:01:14.870 --> 00:01:14.880 align:start position:0% statement is true so for example if I 00:01:14.880 --> 00:01:16.699 align:start position:0% statement is true so for example if I know<00:01:14.939> a<00:01:15.149> password<00:01:15.780> I<00:01:16.049> could<00:01:16.530> potentially 00:01:16.699 --> 00:01:16.709 align:start position:0% know a password I could potentially 00:01:16.709 --> 00:01:18.410 align:start position:0% know a password I could potentially prove<00:01:17.219> to<00:01:17.369> you<00:01:17.459> that<00:01:17.490> I<00:01:17.639> know<00:01:17.700> a<00:01:17.850> password 00:01:18.410 --> 00:01:18.420 align:start position:0% prove to you that I know a password 00:01:18.420 --> 00:01:21.109 align:start position:0% prove to you that I know a password without<00:01:18.899> revealing<00:01:19.229> what<00:01:19.590> that<00:01:19.740> word<00:01:20.249> is<00:01:20.429> you 00:01:21.109 --> 00:01:21.119 align:start position:0% without revealing what that word is you 00:01:21.119 --> 00:01:25.010 align:start position:0% without revealing what that word is you just<00:01:21.329> know<00:01:21.509> that<00:01:21.689> it<00:01:21.810> is<00:01:21.929> true<00:01:23.719> with<00:01:24.719> zernov 00:01:25.010 --> 00:01:25.020 align:start position:0% just know that it is true with zernov 00:01:25.020 --> 00:01:26.749 align:start position:0% just know that it is true with zernov proofs<00:01:25.380> you'll<00:01:25.560> have<00:01:25.709> a<00:01:25.740> proven<00:01:26.039> a<00:01:26.279> verifier 00:01:26.749 --> 00:01:26.759 align:start position:0% proofs you'll have a proven a verifier 00:01:26.759 --> 00:01:28.999 align:start position:0% proofs you'll have a proven a verifier the<00:01:27.659> underlying<00:01:28.139> information<00:01:28.409> is<00:01:28.829> kept 00:01:28.999 --> 00:01:29.009 align:start position:0% the underlying information is kept 00:01:29.009 --> 00:01:31.669 align:start position:0% the underlying information is kept secret<00:01:29.310> private<00:01:29.939> the<00:01:30.779> verifier<00:01:31.259> knows<00:01:31.529> that 00:01:31.669 --> 00:01:31.679 align:start position:0% secret private the verifier knows that 00:01:31.679 --> 00:01:33.590 align:start position:0% secret private the verifier knows that the<00:01:31.799> information<00:01:32.369> is<00:01:32.459> accurate<00:01:32.609> despite<00:01:33.240> not 00:01:33.590 --> 00:01:33.600 align:start position:0% the information is accurate despite not 00:01:33.600 --> 00:01:35.989 align:start position:0% the information is accurate despite not having<00:01:33.630> an<00:01:34.049> entire<00:01:34.350> picture<00:01:34.670> in<00:01:35.670> this<00:01:35.789> case 00:01:35.989 --> 00:01:35.999 align:start position:0% having an entire picture in this case 00:01:35.999 --> 00:01:37.969 align:start position:0% having an entire picture in this case there's<00:01:36.209> no<00:01:36.359> need<00:01:36.539> for<00:01:36.719> the<00:01:36.810> third<00:01:36.990> party<00:01:37.499> to 00:01:37.969 --> 00:01:37.979 align:start position:0% there's no need for the third party to 00:01:37.979 --> 00:01:39.949 align:start position:0% there's no need for the third party to act<00:01:38.069> as<00:01:38.249> a<00:01:38.279> sort<00:01:38.609> of<00:01:38.670> certifier<00:01:39.420> that<00:01:39.719> this<00:01:39.840> is 00:01:39.949 --> 00:01:39.959 align:start position:0% act as a sort of certifier that this is 00:01:39.959 --> 00:01:42.620 align:start position:0% act as a sort of certifier that this is true<00:01:40.229> the<00:01:40.889> zero<00:01:41.549> knowledge<00:01:41.700> proof<00:01:41.819> itself<00:01:42.389> the 00:01:42.620 --> 00:01:42.630 align:start position:0% true the zero knowledge proof itself the 00:01:42.630 --> 00:01:44.719 align:start position:0% true the zero knowledge proof itself the cryptographic<00:01:42.959> in<00:01:43.409> underpinnings<00:01:44.099> or<00:01:44.609> what 00:01:44.719 --> 00:01:44.729 align:start position:0% cryptographic in underpinnings or what 00:01:44.729 --> 00:01:47.960 align:start position:0% cryptographic in underpinnings or what confirm<00:01:45.439> the<00:01:46.439> truth<00:01:46.679> of<00:01:46.859> the<00:01:46.920> statement 00:01:47.960 --> 00:01:47.970 align:start position:0% confirm the truth of the statement 00:01:47.970 --> 00:01:51.860 align:start position:0% confirm the truth of the statement so<00:01:48.930> here's<00:01:49.140> a<00:01:49.230> little<00:01:49.440> example<00:01:50.420> later<00:01:51.420> tonight 00:01:51.860 --> 00:01:51.870 align:start position:0% so here's a little example later tonight 00:01:51.870 --> 00:01:54.290 align:start position:0% so here's a little example later tonight I<00:01:52.110> might<00:01:52.410> want<00:01:52.560> to<00:01:52.590> go<00:01:52.710> over<00:01:52.740> that<00:01:53.130> I<00:01:53.610> might 00:01:54.290 --> 00:01:54.300 align:start position:0% I might want to go over that I might 00:01:54.300 --> 00:01:56.690 align:start position:0% I might want to go over that I might want<00:01:54.480> to<00:01:54.510> go<00:01:54.600> to<00:01:54.660> karaoke<00:01:54.930> bar<00:01:55.440> actually<00:01:55.680> and<00:01:56.100> I 00:01:56.690 --> 00:01:56.700 align:start position:0% want to go to karaoke bar actually and I 00:01:56.700 --> 00:01:58.490 align:start position:0% want to go to karaoke bar actually and I learned<00:01:56.940> that<00:01:57.240> the<00:01:57.750> drinking<00:01:58.080> age<00:01:58.140> here<00:01:58.410> in 00:01:58.490 --> 00:01:58.500 align:start position:0% learned that the drinking age here in 00:01:58.500 --> 00:02:02.960 align:start position:0% learned that the drinking age here in Japan<00:01:58.950> is<00:01:59.100> 20<00:01:59.610> now<00:02:00.600> I'm<00:02:01.140> Way<00:02:01.650> over<00:02:01.980> 20<00:02:02.310> but<00:02:02.940> I 00:02:02.960 --> 00:02:02.970 align:start position:0% Japan is 20 now I'm Way over 20 but I 00:02:02.970 --> 00:02:04.970 align:start position:0% Japan is 20 now I'm Way over 20 but I mean<00:02:03.270> I<00:02:03.540> may<00:02:03.810> want<00:02:04.020> to<00:02:04.080> prove<00:02:04.380> that<00:02:04.410> I'm<00:02:04.710> over 00:02:04.970 --> 00:02:04.980 align:start position:0% mean I may want to prove that I'm over 00:02:04.980 --> 00:02:07.910 align:start position:0% mean I may want to prove that I'm over 20<00:02:05.310> without<00:02:05.430> revealing<00:02:05.850> my<00:02:06.210> age<00:02:06.240> and<00:02:06.660> I<00:02:07.650> could 00:02:07.910 --> 00:02:07.920 align:start position:0% 20 without revealing my age and I could 00:02:07.920 --> 00:02:09.800 align:start position:0% 20 without revealing my age and I could potentially<00:02:08.280> do<00:02:08.729> that<00:02:08.910> with<00:02:09.479> the<00:02:09.600> zero 00:02:09.800 --> 00:02:09.810 align:start position:0% potentially do that with the zero 00:02:09.810 --> 00:02:10.550 align:start position:0% potentially do that with the zero knowledge<00:02:09.960> proof 00:02:10.550 --> 00:02:10.560 align:start position:0% knowledge proof 00:02:10.560 --> 00:02:12.890 align:start position:0% knowledge proof so<00:02:10.920> here<00:02:11.160> the<00:02:11.580> bouncer<00:02:11.970> would<00:02:12.210> know<00:02:12.360> that<00:02:12.390> I<00:02:12.780> am 00:02:12.890 --> 00:02:12.900 align:start position:0% so here the bouncer would know that I am 00:02:12.900 --> 00:02:14.810 align:start position:0% so here the bouncer would know that I am over<00:02:13.080> 20<00:02:13.530> but<00:02:13.890> he<00:02:13.920> wouldn't<00:02:14.250> actually<00:02:14.400> know<00:02:14.640> my 00:02:14.810 --> 00:02:14.820 align:start position:0% over 20 but he wouldn't actually know my 00:02:14.820 --> 00:02:19.670 align:start position:0% over 20 but he wouldn't actually know my age<00:02:16.490> okay<00:02:17.510> so<00:02:18.510> in<00:02:18.660> this<00:02:18.780> talk<00:02:19.080> I'm<00:02:19.140> gonna<00:02:19.500> be 00:02:19.670 --> 00:02:19.680 align:start position:0% age okay so in this talk I'm gonna be 00:02:19.680 --> 00:02:21.980 align:start position:0% age okay so in this talk I'm gonna be outlining<00:02:20.040> sort<00:02:20.640> of<00:02:20.730> privacy<00:02:21.270> and<00:02:21.480> blockchain 00:02:21.980 --> 00:02:21.990 align:start position:0% outlining sort of privacy and blockchain 00:02:21.990 --> 00:02:24.380 align:start position:0% outlining sort of privacy and blockchain as<00:02:22.710> well<00:02:22.920> as<00:02:23.010> transparency<00:02:23.580> walk<00:02:23.880> in<00:02:24.090> and<00:02:24.240> help 00:02:24.380 --> 00:02:24.390 align:start position:0% as well as transparency walk in and help 00:02:24.390 --> 00:02:26.510 align:start position:0% as well as transparency walk in and help it's<00:02:25.140> you're<00:02:25.260> not<00:02:25.440> proof<00:02:25.770> interactive<00:02:26.340> both 00:02:26.510 --> 00:02:26.520 align:start position:0% it's you're not proof interactive both 00:02:26.520 --> 00:02:27.920 align:start position:0% it's you're not proof interactive both of<00:02:26.670> those<00:02:26.760> so<00:02:27.120> first<00:02:27.420> let's<00:02:27.750> talk<00:02:27.870> about 00:02:27.920 --> 00:02:27.930 align:start position:0% of those so first let's talk about 00:02:27.930 --> 00:02:31.700 align:start position:0% of those so first let's talk about privacy<00:02:29.990> to<00:02:30.990> privacy<00:02:31.380> in<00:02:31.440> the<00:02:31.500> blockchain 00:02:31.700 --> 00:02:31.710 align:start position:0% privacy to privacy in the blockchain 00:02:31.710 --> 00:02:34.220 align:start position:0% privacy to privacy in the blockchain blockchain<00:02:32.610> isn't<00:02:33.000> actually<00:02:33.300> private<00:02:33.720> on<00:02:34.080> its 00:02:34.220 --> 00:02:34.230 align:start position:0% blockchain isn't actually private on its 00:02:34.230 --> 00:02:37.160 align:start position:0% blockchain isn't actually private on its own<00:02:34.430> but<00:02:35.430> I<00:02:35.760> didn't<00:02:36.210> turn<00:02:36.300> ultra<00:02:36.600> proofs<00:02:36.870> can 00:02:37.160 --> 00:02:37.170 align:start position:0% own but I didn't turn ultra proofs can 00:02:37.170 --> 00:02:40.070 align:start position:0% own but I didn't turn ultra proofs can make<00:02:38.060> the<00:02:39.060> transactions<00:02:39.690> on<00:02:39.810> the<00:02:39.870> blockchain 00:02:40.070 --> 00:02:40.080 align:start position:0% make the transactions on the blockchain 00:02:40.080 --> 00:02:43.400 align:start position:0% make the transactions on the blockchain private<00:02:40.680> so<00:02:41.670> the<00:02:41.880> most<00:02:42.060> famous<00:02:42.510> sort<00:02:43.260> of<00:02:43.320> the 00:02:43.400 --> 00:02:43.410 align:start position:0% private so the most famous sort of the 00:02:43.410 --> 00:02:45.710 align:start position:0% private so the most famous sort of the first<00:02:43.740> example<00:02:44.610> of<00:02:44.700> this<00:02:44.880> was<00:02:45.150> the<00:02:45.270> zero<00:02:45.510> cash 00:02:45.710 --> 00:02:45.720 align:start position:0% first example of this was the zero cash 00:02:45.720 --> 00:02:48.290 align:start position:0% first example of this was the zero cash paper<00:02:46.020> written<00:02:46.410> in<00:02:46.530> 2014<00:02:47.400> or<00:02:47.940> they<00:02:48.150> actually 00:02:48.290 --> 00:02:48.300 align:start position:0% paper written in 2014 or they actually 00:02:48.300 --> 00:02:49.910 align:start position:0% paper written in 2014 or they actually proposed<00:02:48.870> a<00:02:49.050> model<00:02:49.350> that<00:02:49.500> allowed<00:02:49.740> for 00:02:49.910 --> 00:02:49.920 align:start position:0% proposed a model that allowed for 00:02:49.920 --> 00:02:53.300 align:start position:0% proposed a model that allowed for confidential<00:02:50.550> payments<00:02:51.739> since<00:02:52.739> then<00:02:53.040> there's 00:02:53.300 --> 00:02:53.310 align:start position:0% confidential payments since then there's 00:02:53.310 --> 00:02:54.860 align:start position:0% confidential payments since then there's been<00:02:53.370> a<00:02:53.459> lot<00:02:53.670> of<00:02:53.700> protocols<00:02:54.239> that<00:02:54.360> are<00:02:54.420> emerged 00:02:54.860 --> 00:02:54.870 align:start position:0% been a lot of protocols that are emerged 00:02:54.870 --> 00:02:57.650 align:start position:0% been a lot of protocols that are emerged when<00:02:55.470> they're<00:02:55.590> using<00:02:55.860> this<00:02:56.790> kind<00:02:57.570> of 00:02:57.650 --> 00:02:57.660 align:start position:0% when they're using this kind of 00:02:57.660 --> 00:03:00.890 align:start position:0% when they're using this kind of underlying<00:02:58.110> idea<00:02:58.530> and<00:02:58.970> they're<00:02:59.970> creating<00:03:00.330> you 00:03:00.890 --> 00:03:00.900 align:start position:0% underlying idea and they're creating you 00:03:00.900 --> 00:03:02.540 align:start position:0% underlying idea and they're creating you know<00:03:01.020> like<00:03:01.230> for<00:03:01.620> example<00:03:01.680> Z<00:03:02.100> cash<00:03:02.310> they're 00:03:02.540 --> 00:03:02.550 align:start position:0% know like for example Z cash they're 00:03:02.550 --> 00:03:04.250 align:start position:0% know like for example Z cash they're creating<00:03:02.850> a<00:03:02.910> shielded<00:03:03.360> account<00:03:03.660> model<00:03:04.050> and 00:03:04.250 --> 00:03:04.260 align:start position:0% creating a shielded account model and 00:03:04.260 --> 00:03:06.650 align:start position:0% creating a shielded account model and what<00:03:04.860> that<00:03:05.010> actually<00:03:05.040> means<00:03:05.580> going<00:03:06.239> back<00:03:06.450> to 00:03:06.650 --> 00:03:06.660 align:start position:0% what that actually means going back to 00:03:06.660 --> 00:03:09.380 align:start position:0% what that actually means going back to my<00:03:06.780> example<00:03:06.840> with<00:03:07.320> the<00:03:07.440> bouncer<00:03:08.030> if<00:03:09.030> I<00:03:09.180> have<00:03:09.270> to 00:03:09.380 --> 00:03:09.390 align:start position:0% my example with the bouncer if I have to 00:03:09.390 --> 00:03:12.530 align:start position:0% my example with the bouncer if I have to pay<00:03:09.540> my<00:03:09.720> cover<00:03:10.130> I<00:03:11.130> could<00:03:11.580> potentially<00:03:11.820> pay<00:03:12.330> the 00:03:12.530 --> 00:03:12.540 align:start position:0% pay my cover I could potentially pay the 00:03:12.540 --> 00:03:16.190 align:start position:0% pay my cover I could potentially pay the cover<00:03:14.060> from<00:03:15.060> my<00:03:15.270> account<00:03:15.630> to<00:03:15.900> the<00:03:15.989> bars 00:03:16.190 --> 00:03:16.200 align:start position:0% cover from my account to the bars 00:03:16.200 --> 00:03:18.290 align:start position:0% cover from my account to the bars account<00:03:16.560> and<00:03:16.800> no<00:03:17.250> other<00:03:17.489> information<00:03:17.670> would 00:03:18.290 --> 00:03:18.300 align:start position:0% account and no other information would 00:03:18.300 --> 00:03:20.540 align:start position:0% account and no other information would be<00:03:18.450> made<00:03:18.660> obvious<00:03:19.530> to<00:03:19.739> the<00:03:19.830> bars<00:03:20.010> account<00:03:20.340> for 00:03:20.540 --> 00:03:20.550 align:start position:0% be made obvious to the bars account for 00:03:20.550 --> 00:03:22.250 align:start position:0% be made obvious to the bars account for example<00:03:20.910> the<00:03:21.000> bar<00:03:21.180> would<00:03:21.390> not<00:03:21.570> know<00:03:21.810> what<00:03:22.140> I've 00:03:22.250 --> 00:03:22.260 align:start position:0% example the bar would not know what I've 00:03:22.260 --> 00:03:24.259 align:start position:0% example the bar would not know what I've transferred<00:03:22.800> before<00:03:22.980> what<00:03:23.519> I<00:03:23.550> plan<00:03:23.880> on<00:03:23.910> doing 00:03:24.259 --> 00:03:24.269 align:start position:0% transferred before what I plan on doing 00:03:24.269 --> 00:03:26.180 align:start position:0% transferred before what I plan on doing in<00:03:24.360> the<00:03:24.390> future<00:03:24.480> the<00:03:25.350> bar<00:03:25.590> would<00:03:25.739> not<00:03:25.920> know<00:03:26.070> my 00:03:26.180 --> 00:03:26.190 align:start position:0% in the future the bar would not know my 00:03:26.190 --> 00:03:28.790 align:start position:0% in the future the bar would not know my balance<00:03:26.670> and<00:03:26.940> yet<00:03:27.570> using<00:03:28.260> as<00:03:28.500> your<00:03:28.620> knowledge 00:03:28.790 --> 00:03:28.800 align:start position:0% balance and yet using as your knowledge 00:03:28.800 --> 00:03:30.560 align:start position:0% balance and yet using as your knowledge proof<00:03:29.100> I<00:03:29.280> can<00:03:29.489> guarantee<00:03:30.000> that<00:03:30.150> there's<00:03:30.450> no 00:03:30.560 --> 00:03:30.570 align:start position:0% proof I can guarantee that there's no 00:03:30.570 --> 00:03:32.600 align:start position:0% proof I can guarantee that there's no double<00:03:30.959> spend<00:03:31.260> so<00:03:31.830> I<00:03:31.890> could<00:03:32.070> guarantee<00:03:32.220> that<00:03:32.459> I 00:03:32.600 --> 00:03:32.610 align:start position:0% double spend so I could guarantee that I 00:03:32.610 --> 00:03:34.430 align:start position:0% double spend so I could guarantee that I have<00:03:32.970> those<00:03:33.330> five<00:03:33.660> tokens<00:03:34.170> that<00:03:34.260> I'm 00:03:34.430 --> 00:03:34.440 align:start position:0% have those five tokens that I'm 00:03:34.440 --> 00:03:35.720 align:start position:0% have those five tokens that I'm transferring<00:03:34.890> and<00:03:35.370> that<00:03:35.459> I<00:03:35.489> haven't 00:03:35.720 --> 00:03:35.730 align:start position:0% transferring and that I haven't 00:03:35.730 --> 00:03:40.370 align:start position:0% transferring and that I haven't transferred<00:03:36.300> five<00:03:36.870> tokens<00:03:37.320> twice<00:03:39.380> although 00:03:40.370 --> 00:03:40.380 align:start position:0% transferred five tokens twice although 00:03:40.380 --> 00:03:43.280 align:start position:0% transferred five tokens twice although five<00:03:40.620> tokens<00:03:40.890> for<00:03:41.550> an<00:03:41.670> entry<00:03:42.060> if<00:03:42.390> it's<00:03:42.600> caramel 00:03:43.280 --> 00:03:43.290 align:start position:0% five tokens for an entry if it's caramel 00:03:43.290 --> 00:03:44.990 align:start position:0% five tokens for an entry if it's caramel if<00:03:43.530> it's<00:03:43.680> C<00:03:43.920> cash<00:03:44.160> would<00:03:44.400> be<00:03:44.519> very<00:03:44.790> very 00:03:44.990 --> 00:03:45.000 align:start position:0% if it's C cash would be very very 00:03:45.000 --> 00:03:48.030 align:start position:0% if it's C cash would be very very expensive<00:03:45.450> so<00:03:45.630> I'm<00:03:45.750> hoping<00:03:46.019> that<00:03:46.170> my<00:03:46.320> night 00:03:48.030 --> 00:03:48.040 align:start position:0% expensive so I'm hoping that my night 00:03:48.040 --> 00:03:50.680 align:start position:0% expensive so I'm hoping that my night all<00:03:49.040> right<00:03:49.160> so<00:03:49.489> in<00:03:49.640> a<00:03:49.730> traditional<00:03:49.880> payment 00:03:50.680 --> 00:03:50.690 align:start position:0% all right so in a traditional payment 00:03:50.690 --> 00:03:53.229 align:start position:0% all right so in a traditional payment system<00:03:51.050> this<00:03:51.860> makes<00:03:52.099> total<00:03:52.340> sense<00:03:52.459> like<00:03:53.000> you 00:03:53.229 --> 00:03:53.239 align:start position:0% system this makes total sense like you 00:03:53.239 --> 00:03:55.270 align:start position:0% system this makes total sense like you should<00:03:53.510> not<00:03:53.720> have<00:03:54.050> to<00:03:54.349> reveal<00:03:54.860> what<00:03:55.160> you've 00:03:55.270 --> 00:03:55.280 align:start position:0% should not have to reveal what you've 00:03:55.280 --> 00:03:56.979 align:start position:0% should not have to reveal what you've done<00:03:55.459> before<00:03:55.610> what<00:03:56.150> you've<00:03:56.239> done<00:03:56.390> after<00:03:56.780> and 00:03:56.979 --> 00:03:56.989 align:start position:0% done before what you've done after and 00:03:56.989 --> 00:03:59.830 align:start position:0% done before what you've done after and like<00:03:57.950> sales<00:03:58.190> a<00:03:58.340> business<00:03:58.849> I<00:03:59.090> paid<00:03:59.569> your 00:03:59.830 --> 00:03:59.840 align:start position:0% like sales a business I paid your 00:03:59.840 --> 00:04:02.350 align:start position:0% like sales a business I paid your invoice<00:04:00.349> I<00:04:00.680> would<00:04:01.220> not<00:04:01.400> want<00:04:01.670> you<00:04:01.730> to<00:04:02.030> then<00:04:02.180> be 00:04:02.350 --> 00:04:02.360 align:start position:0% invoice I would not want you to then be 00:04:02.360 --> 00:04:05.020 align:start position:0% invoice I would not want you to then be able<00:04:02.420> to<00:04:02.630> see<00:04:02.810> other<00:04:02.989> invoices<00:04:03.650> I've<00:04:03.800> paid<00:04:04.069> in 00:04:05.020 --> 00:04:05.030 align:start position:0% able to see other invoices I've paid in 00:04:05.030 --> 00:04:07.650 align:start position:0% able to see other invoices I've paid in the<00:04:05.150> past<00:04:05.180> or<00:04:05.630> plan<00:04:05.840> to<00:04:05.989> pay<00:04:06.140> in<00:04:06.230> the<00:04:06.319> future 00:04:07.650 --> 00:04:07.660 align:start position:0% the past or plan to pay in the future 00:04:07.660 --> 00:04:10.330 align:start position:0% the past or plan to pay in the future and<00:04:08.660> so<00:04:08.810> here<00:04:08.989> we<00:04:09.080> can<00:04:09.230> see<00:04:09.380> why<00:04:09.560> privacy<00:04:10.190> is 00:04:10.330 --> 00:04:10.340 align:start position:0% and so here we can see why privacy is 00:04:10.340 --> 00:04:13.390 align:start position:0% and so here we can see why privacy is valuable<00:04:10.790> for<00:04:10.940> the<00:04:11.360> blockchain<00:04:11.569> and<00:04:12.160> I<00:04:13.160> think 00:04:13.390 --> 00:04:13.400 align:start position:0% valuable for the blockchain and I think 00:04:13.400 --> 00:04:14.860 align:start position:0% valuable for the blockchain and I think if<00:04:13.489> we<00:04:13.610> want<00:04:13.760> watching<00:04:14.209> to<00:04:14.330> be<00:04:14.390> adopted<00:04:14.780> on 00:04:14.860 --> 00:04:14.870 align:start position:0% if we want watching to be adopted on 00:04:14.870 --> 00:04:16.810 align:start position:0% if we want watching to be adopted on large<00:04:15.170> scale<00:04:15.470> it<00:04:16.040> definitely<00:04:16.519> needs<00:04:16.639> to<00:04:16.730> be 00:04:16.810 --> 00:04:16.820 align:start position:0% large scale it definitely needs to be 00:04:16.820 --> 00:04:21.250 align:start position:0% large scale it definitely needs to be secured<00:04:17.359> accurate<00:04:18.019> but<00:04:18.590> private<00:04:19.959> ok<00:04:20.959> so<00:04:21.049> now 00:04:21.250 --> 00:04:21.260 align:start position:0% secured accurate but private ok so now 00:04:21.260 --> 00:04:22.719 align:start position:0% secured accurate but private ok so now let's<00:04:21.290> talk<00:04:21.560> about<00:04:21.620> transparency<00:04:22.280> in<00:04:22.639> the 00:04:22.719 --> 00:04:22.729 align:start position:0% let's talk about transparency in the 00:04:22.729 --> 00:04:26.710 align:start position:0% let's talk about transparency in the blockchain<00:04:24.070> okay<00:04:25.450> when<00:04:26.450> you<00:04:26.540> think<00:04:26.690> about 00:04:26.710 --> 00:04:26.720 align:start position:0% blockchain okay when you think about 00:04:26.720 --> 00:04:28.750 align:start position:0% blockchain okay when you think about like<00:04:26.960> Bitcoin<00:04:27.440> and<00:04:27.710> other<00:04:27.979> distributed<00:04:28.490> open 00:04:28.750 --> 00:04:28.760 align:start position:0% like Bitcoin and other distributed open 00:04:28.760 --> 00:04:30.700 align:start position:0% like Bitcoin and other distributed open block<00:04:29.000> chains<00:04:29.270> you<00:04:30.080> will<00:04:30.200> see<00:04:30.440> all<00:04:30.590> the 00:04:30.700 --> 00:04:30.710 align:start position:0% block chains you will see all the 00:04:30.710 --> 00:04:32.800 align:start position:0% block chains you will see all the transfers<00:04:31.130> being<00:04:31.430> made<00:04:31.580> and<00:04:31.850> even<00:04:32.570> though 00:04:32.800 --> 00:04:32.810 align:start position:0% transfers being made and even though 00:04:32.810 --> 00:04:35.290 align:start position:0% transfers being made and even though it's<00:04:33.080> just<00:04:33.200> account<00:04:33.620> numbers<00:04:33.979> there<00:04:34.820> are<00:04:35.060> I 00:04:35.290 --> 00:04:35.300 align:start position:0% it's just account numbers there are I 00:04:35.300 --> 00:04:36.850 align:start position:0% it's just account numbers there are I mean<00:04:35.900> I<00:04:35.960> think<00:04:36.020> we<00:04:36.229> all<00:04:36.260> know<00:04:36.440> this<00:04:36.560> there<00:04:36.770> are 00:04:36.850 --> 00:04:36.860 align:start position:0% mean I think we all know this there are 00:04:36.860 --> 00:04:38.590 align:start position:0% mean I think we all know this there are methods<00:04:37.250> for<00:04:37.340> tracking<00:04:37.850> money<00:04:38.030> I'm<00:04:38.150> watching 00:04:38.590 --> 00:04:38.600 align:start position:0% methods for tracking money I'm watching 00:04:38.600 --> 00:04:40.719 align:start position:0% methods for tracking money I'm watching keep<00:04:39.260> they're<00:04:39.440> using<00:04:39.770> on<00:04:39.919> and<00:04:40.100> off<00:04:40.190> ramps<00:04:40.610> like 00:04:40.719 --> 00:04:40.729 align:start position:0% keep they're using on and off ramps like 00:04:40.729 --> 00:04:43.360 align:start position:0% keep they're using on and off ramps like exchanges<00:04:41.419> or<00:04:41.870> cracking<00:04:42.380> mixer<00:04:42.710> like<00:04:42.889> systems 00:04:43.360 --> 00:04:43.370 align:start position:0% exchanges or cracking mixer like systems 00:04:43.370 --> 00:04:45.100 align:start position:0% exchanges or cracking mixer like systems there<00:04:43.940> are<00:04:43.970> in<00:04:44.360> tight<00:04:44.570> like<00:04:44.840> there's 00:04:45.100 --> 00:04:45.110 align:start position:0% there are in tight like there's 00:04:45.110 --> 00:04:47.140 align:start position:0% there are in tight like there's analytics<00:04:45.710> companies<00:04:46.130> dedicated<00:04:46.340> entirely 00:04:47.140 --> 00:04:47.150 align:start position:0% analytics companies dedicated entirely 00:04:47.150 --> 00:04:49.810 align:start position:0% analytics companies dedicated entirely just<00:04:47.750> to<00:04:48.050> figuring<00:04:49.040> out<00:04:49.130> who's<00:04:49.340> who<00:04:49.580> on<00:04:49.610> the 00:04:49.810 --> 00:04:49.820 align:start position:0% just to figuring out who's who on the 00:04:49.820 --> 00:04:50.430 align:start position:0% just to figuring out who's who on the blockchain 00:04:50.430 --> 00:04:50.440 align:start position:0% blockchain 00:04:50.440 --> 00:04:52.630 align:start position:0% blockchain in<00:04:51.440> fact<00:04:51.680> criminals<00:04:52.190> have<00:04:52.340> been<00:04:52.370> caught 00:04:52.630 --> 00:04:52.640 align:start position:0% in fact criminals have been caught 00:04:52.640 --> 00:04:55.000 align:start position:0% in fact criminals have been caught because<00:04:52.880> these<00:04:53.330> Bitcoin<00:04:54.169> not<00:04:54.380> displayed<00:04:54.830> it 00:04:55.000 --> 00:04:55.010 align:start position:0% because these Bitcoin not displayed it 00:04:55.010 --> 00:04:56.740 align:start position:0% because these Bitcoin not displayed it and<00:04:55.250> that's<00:04:56.000> actually<00:04:56.120> a<00:04:56.330> really<00:04:56.510> good<00:04:56.690> thing 00:04:56.740 --> 00:04:56.750 align:start position:0% and that's actually a really good thing 00:04:56.750 --> 00:05:00.370 align:start position:0% and that's actually a really good thing like<00:04:57.740> transparency<00:04:58.580> is<00:04:59.150> a<00:04:59.180> good<00:04:59.479> thing<00:04:59.690> you 00:05:00.370 --> 00:05:00.380 align:start position:0% like transparency is a good thing you 00:05:00.380 --> 00:05:03.400 align:start position:0% like transparency is a good thing you can<00:05:00.560> actually<00:05:01.450> see<00:05:02.450> all<00:05:02.720> the<00:05:02.750> whole<00:05:03.169> things 00:05:03.400 --> 00:05:03.410 align:start position:0% can actually see all the whole things 00:05:03.410 --> 00:05:05.800 align:start position:0% can actually see all the whole things you<00:05:03.590> can<00:05:03.740> seal<00:05:03.950> the<00:05:04.100> transactions<00:05:04.880> if<00:05:05.180> you 00:05:05.800 --> 00:05:05.810 align:start position:0% you can seal the transactions if you 00:05:05.810 --> 00:05:07.960 align:start position:0% you can seal the transactions if you want<00:05:06.140> you<00:05:06.320> can<00:05:06.500> actually<00:05:06.650> take<00:05:07.250> like<00:05:07.430> keep<00:05:07.760> an 00:05:07.960 --> 00:05:07.970 align:start position:0% want you can actually take like keep an 00:05:07.970 --> 00:05:09.659 align:start position:0% want you can actually take like keep an authentic<00:05:08.419> copy<00:05:08.630> of<00:05:08.810> the<00:05:08.900> ledger 00:05:09.659 --> 00:05:09.669 align:start position:0% authentic copy of the ledger 00:05:09.669 --> 00:05:12.250 align:start position:0% authentic copy of the ledger transactions<00:05:10.669> are<00:05:11.120> mutable<00:05:11.630> and<00:05:11.690> you<00:05:11.810> can<00:05:11.990> see 00:05:12.250 --> 00:05:12.260 align:start position:0% transactions are mutable and you can see 00:05:12.260 --> 00:05:14.529 align:start position:0% transactions are mutable and you can see them<00:05:12.470> yourself<00:05:12.950> in<00:05:13.250> this<00:05:13.820> case<00:05:14.120> you<00:05:14.390> can 00:05:14.529 --> 00:05:14.539 align:start position:0% them yourself in this case you can 00:05:14.539 --> 00:05:17.050 align:start position:0% them yourself in this case you can actually<00:05:14.570> audit<00:05:15.289> any<00:05:16.039> transaction<00:05:16.850> and 00:05:17.050 --> 00:05:17.060 align:start position:0% actually audit any transaction and 00:05:17.060 --> 00:05:18.670 align:start position:0% actually audit any transaction and there's<00:05:17.210> no<00:05:17.330> middleman<00:05:17.750> needed<00:05:18.169> and<00:05:18.350> that 00:05:18.670 --> 00:05:18.680 align:start position:0% there's no middleman needed and that 00:05:18.680 --> 00:05:20.200 align:start position:0% there's no middleman needed and that means<00:05:18.919> you<00:05:19.100> know<00:05:19.280> where<00:05:19.580> your<00:05:19.729> tokens<00:05:20.090> are 00:05:20.200 --> 00:05:20.210 align:start position:0% means you know where your tokens are 00:05:20.210 --> 00:05:21.790 align:start position:0% means you know where your tokens are going<00:05:20.510> how<00:05:20.810> they're<00:05:20.990> being<00:05:21.169> used<00:05:21.229> and<00:05:21.710> who 00:05:21.790 --> 00:05:21.800 align:start position:0% going how they're being used and who 00:05:21.800 --> 00:05:24.670 align:start position:0% going how they're being used and who touches<00:05:22.070> them<00:05:22.930> but<00:05:23.930> if<00:05:24.110> you<00:05:24.229> think<00:05:24.410> back<00:05:24.650> to 00:05:24.670 --> 00:05:24.680 align:start position:0% touches them but if you think back to 00:05:24.680 --> 00:05:26.440 align:start position:0% touches them but if you think back to the<00:05:24.950> traditional<00:05:25.430> financial<00:05:25.910> world<00:05:26.060> large 00:05:26.440 --> 00:05:26.450 align:start position:0% the traditional financial world large 00:05:26.450 --> 00:05:28.240 align:start position:0% the traditional financial world large banks<00:05:26.840> and<00:05:26.900> other<00:05:27.080> institutions<00:05:27.169> will<00:05:28.039> lose 00:05:28.240 --> 00:05:28.250 align:start position:0% banks and other institutions will lose 00:05:28.250 --> 00:05:30.909 align:start position:0% banks and other institutions will lose customers<00:05:29.090> funds<00:05:29.570> in<00:05:30.050> ways<00:05:30.470> that<00:05:30.680> the<00:05:30.770> user 00:05:30.909 --> 00:05:30.919 align:start position:0% customers funds in ways that the user 00:05:30.919 --> 00:05:33.279 align:start position:0% customers funds in ways that the user may<00:05:31.160> not<00:05:31.370> be<00:05:31.550> aware<00:05:31.760> of<00:05:31.820> and<00:05:32.180> in<00:05:32.660> ways<00:05:32.840> the<00:05:33.139> user 00:05:33.279 --> 00:05:33.289 align:start position:0% may not be aware of and in ways the user 00:05:33.289 --> 00:05:34.300 align:start position:0% may not be aware of and in ways the user would<00:05:33.560> never<00:05:33.770> want 00:05:34.300 --> 00:05:34.310 align:start position:0% would never want 00:05:34.310 --> 00:05:36.580 align:start position:0% would never want so<00:05:34.669> there's<00:05:34.850> definitely<00:05:35.229> value<00:05:36.229> in<00:05:36.470> this 00:05:36.580 --> 00:05:36.590 align:start position:0% so there's definitely value in this 00:05:36.590 --> 00:05:37.580 align:start position:0% so there's definitely value in this transparency 00:05:37.580 --> 00:05:37.590 align:start position:0% transparency 00:05:37.590 --> 00:05:40.159 align:start position:0% transparency into<00:05:37.830> these<00:05:37.950> larger<00:05:38.370> systems<00:05:38.900> this<00:05:39.900> is<00:05:40.020> why 00:05:40.159 --> 00:05:40.169 align:start position:0% into these larger systems this is why 00:05:40.169 --> 00:05:41.960 align:start position:0% into these larger systems this is why transparency<00:05:40.889> is<00:05:40.950> valuable<00:05:41.340> for<00:05:41.730> the<00:05:41.790> blob 00:05:41.960 --> 00:05:41.970 align:start position:0% transparency is valuable for the blob 00:05:41.970 --> 00:05:45.140 align:start position:0% transparency is valuable for the blob chain<00:05:42.530> okay<00:05:43.530> so<00:05:43.830> now<00:05:43.980> I've<00:05:44.100> outlined<00:05:44.610> the 00:05:45.140 --> 00:05:45.150 align:start position:0% chain okay so now I've outlined the 00:05:45.150 --> 00:05:47.390 align:start position:0% chain okay so now I've outlined the tension<00:05:45.690> between<00:05:45.870> these<00:05:46.110> two<00:05:46.350> forces<00:05:46.620> there's 00:05:47.390 --> 00:05:47.400 align:start position:0% tension between these two forces there's 00:05:47.400 --> 00:05:49.610 align:start position:0% tension between these two forces there's privacy<00:05:47.820> and<00:05:48.150> there's<00:05:48.360> transparency<00:05:48.660> there's 00:05:49.610 --> 00:05:49.620 align:start position:0% privacy and there's transparency there's 00:05:49.620 --> 00:05:52.460 align:start position:0% privacy and there's transparency there's private<00:05:50.250> we<00:05:50.430> want<00:05:50.700> our<00:05:50.970> you<00:05:51.690> know<00:05:51.780> we<00:05:52.260> want 00:05:52.460 --> 00:05:52.470 align:start position:0% private we want our you know we want 00:05:52.470 --> 00:05:54.530 align:start position:0% private we want our you know we want some<00:05:52.680> of<00:05:52.770> our<00:05:52.889> data<00:05:53.100> to<00:05:53.190> be<00:05:53.280> confidential<00:05:53.820> we 00:05:54.530 --> 00:05:54.540 align:start position:0% some of our data to be confidential we 00:05:54.540 --> 00:05:56.240 align:start position:0% some of our data to be confidential we also<00:05:54.720> want<00:05:55.050> some<00:05:55.260> key<00:05:55.470> information<00:05:55.770> to<00:05:56.160> be 00:05:56.240 --> 00:05:56.250 align:start position:0% also want some key information to be 00:05:56.250 --> 00:05:59.540 align:start position:0% also want some key information to be verifiable<00:05:56.730> and<00:05:57.120> honorable<00:05:57.660> and<00:05:58.460> even<00:05:59.460> though 00:05:59.540 --> 00:05:59.550 align:start position:0% verifiable and honorable and even though 00:05:59.550 --> 00:06:01.970 align:start position:0% verifiable and honorable and even though it<00:05:59.639> seems<00:05:59.669> contradictory<00:06:00.830> during<00:06:01.830> all<00:06:01.919> the 00:06:01.970 --> 00:06:01.980 align:start position:0% it seems contradictory during all the 00:06:01.980 --> 00:06:05.629 align:start position:0% it seems contradictory during all the proofs<00:06:02.310> and<00:06:02.550> blockchain<00:06:03.230> enable<00:06:04.430> both<00:06:05.430> of 00:06:05.629 --> 00:06:05.639 align:start position:0% proofs and blockchain enable both of 00:06:05.639 --> 00:06:10.490 align:start position:0% proofs and blockchain enable both of these<00:06:05.760> things<00:06:06.090> it's<00:06:06.630> kind<00:06:06.810> of<00:06:06.870> cool<00:06:08.690> so<00:06:09.690> yeah 00:06:10.490 --> 00:06:10.500 align:start position:0% these things it's kind of cool so yeah 00:06:10.500 --> 00:06:12.920 align:start position:0% these things it's kind of cool so yeah in<00:06:10.710> this<00:06:10.919> example<00:06:11.340> so<00:06:11.970> what<00:06:12.300> I<00:06:12.330> wanted<00:06:12.630> to<00:06:12.750> now 00:06:12.920 --> 00:06:12.930 align:start position:0% in this example so what I wanted to now 00:06:12.930 --> 00:06:15.560 align:start position:0% in this example so what I wanted to now is<00:06:13.139> talk<00:06:13.380> about<00:06:13.410> human<00:06:14.120> examples<00:06:15.120> of<00:06:15.300> hauser 00:06:15.560 --> 00:06:15.570 align:start position:0% is talk about human examples of hauser 00:06:15.570 --> 00:06:17.750 align:start position:0% is talk about human examples of hauser knowledge<00:06:16.110> proofs<00:06:16.440> and<00:06:16.710> watching<00:06:17.130> could 00:06:17.750 --> 00:06:17.760 align:start position:0% knowledge proofs and watching could 00:06:17.760 --> 00:06:19.750 align:start position:0% knowledge proofs and watching could potentially<00:06:18.389> help<00:06:18.630> with<00:06:18.840> compliance<00:06:19.260> and 00:06:19.750 --> 00:06:19.760 align:start position:0% potentially help with compliance and 00:06:19.760 --> 00:06:23.150 align:start position:0% potentially help with compliance and Trust<00:06:20.760> building<00:06:20.970> for<00:06:21.419> the<00:06:21.479> end-user<00:06:21.950> now<00:06:22.950> when 00:06:23.150 --> 00:06:23.160 align:start position:0% Trust building for the end-user now when 00:06:23.160 --> 00:06:24.920 align:start position:0% Trust building for the end-user now when I<00:06:23.190> was<00:06:23.400> preparing<00:06:23.820> these<00:06:24.150> lives<00:06:24.510> and<00:06:24.870> this 00:06:24.920 --> 00:06:24.930 align:start position:0% I was preparing these lives and this 00:06:24.930 --> 00:06:26.930 align:start position:0% I was preparing these lives and this presentation<00:06:25.440> I<00:06:25.770> wanted<00:06:26.370> to<00:06:26.460> use<00:06:26.580> examples 00:06:26.930 --> 00:06:26.940 align:start position:0% presentation I wanted to use examples 00:06:26.940 --> 00:06:30.920 align:start position:0% presentation I wanted to use examples from<00:06:27.180> like<00:06:27.450> healthcare<00:06:27.870> or<00:06:28.710> phony<00:06:29.060> or<00:06:30.060> even 00:06:30.920 --> 00:06:30.930 align:start position:0% from like healthcare or phony or even 00:06:30.930 --> 00:06:33.500 align:start position:0% from like healthcare or phony or even taxes<00:06:31.440> but<00:06:32.070> in<00:06:32.190> fact<00:06:32.400> a<00:06:32.610> lot<00:06:32.639> of<00:06:32.910> those<00:06:33.090> are<00:06:33.450> not 00:06:33.500 --> 00:06:33.510 align:start position:0% taxes but in fact a lot of those are not 00:06:33.510 --> 00:06:36.500 align:start position:0% taxes but in fact a lot of those are not very<00:06:33.900> developed<00:06:34.830> and<00:06:35.010> so<00:06:35.520> instead<00:06:35.729> the<00:06:36.300> focus 00:06:36.500 --> 00:06:36.510 align:start position:0% very developed and so instead the focus 00:06:36.510 --> 00:06:38.540 align:start position:0% very developed and so instead the focus of<00:06:36.840> these<00:06:36.990> examples<00:06:37.350> are<00:06:37.680> in<00:06:37.979> the<00:06:38.070> financial 00:06:38.540 --> 00:06:38.550 align:start position:0% of these examples are in the financial 00:06:38.550 --> 00:06:40.159 align:start position:0% of these examples are in the financial sector<00:06:38.850> and<00:06:39.090> I<00:06:39.540> think<00:06:39.570> it<00:06:39.780> makes<00:06:39.930> sense 00:06:40.159 --> 00:06:40.169 align:start position:0% sector and I think it makes sense 00:06:40.169 --> 00:06:41.570 align:start position:0% sector and I think it makes sense because<00:06:40.320> there's<00:06:40.650> so<00:06:40.830> much<00:06:40.950> activity<00:06:41.160> on 00:06:41.570 --> 00:06:41.580 align:start position:0% because there's so much activity on 00:06:41.580 --> 00:06:43.670 align:start position:0% because there's so much activity on chain<00:06:41.940> that<00:06:42.120> could<00:06:42.240> be<00:06:42.360> verified<00:06:42.600> it's<00:06:43.560> like 00:06:43.670 --> 00:06:43.680 align:start position:0% chain that could be verified it's like 00:06:43.680 --> 00:06:45.469 align:start position:0% chain that could be verified it's like it's<00:06:43.919> all<00:06:44.160> the<00:06:44.430> numbers<00:06:44.789> are<00:06:44.970> there<00:06:45.090> and<00:06:45.300> so<00:06:45.450> I 00:06:45.469 --> 00:06:45.479 align:start position:0% it's all the numbers are there and so I 00:06:45.479 --> 00:06:47.960 align:start position:0% it's all the numbers are there and so I think<00:06:45.900> a<00:06:46.110> lot<00:06:46.560> of<00:06:46.590> these<00:06:46.890> systems<00:06:47.430> will<00:06:47.610> first 00:06:47.960 --> 00:06:47.970 align:start position:0% think a lot of these systems will first 00:06:47.970 --> 00:06:52.159 align:start position:0% think a lot of these systems will first emerge<00:06:48.390> through<00:06:48.660> the<00:06:48.840> financial<00:06:49.320> sector<00:06:51.169> I 00:06:52.159 --> 00:06:52.169 align:start position:0% emerge through the financial sector I 00:06:52.169 --> 00:06:54.940 align:start position:0% emerge through the financial sector I want<00:06:52.650> to<00:06:52.710> talk<00:06:52.890> to<00:06:53.460> start<00:06:53.760> about<00:06:54.030> compliance 00:06:54.940 --> 00:06:54.950 align:start position:0% want to talk to start about compliance 00:06:54.950 --> 00:06:57.650 align:start position:0% want to talk to start about compliance this<00:06:55.950> is<00:06:56.100> probably<00:06:56.550> a<00:06:56.850> bit<00:06:57.030> of<00:06:57.060> a<00:06:57.180> dirty<00:06:57.390> word 00:06:57.650 --> 00:06:57.660 align:start position:0% this is probably a bit of a dirty word 00:06:57.660 --> 00:07:00.469 align:start position:0% this is probably a bit of a dirty word here<00:06:57.960> in<00:06:58.350> this<00:06:58.470> audience<00:06:58.680> but<00:06:59.160> I<00:06:59.460> I<00:06:59.970> think<00:07:00.360> this 00:07:00.469 --> 00:07:00.479 align:start position:0% here in this audience but I I think this 00:07:00.479 --> 00:07:02.810 align:start position:0% here in this audience but I I think this is<00:07:00.570> actually<00:07:00.690> really<00:07:01.020> cool<00:07:01.320> like<00:07:01.890> what<00:07:02.729> you 00:07:02.810 --> 00:07:02.820 align:start position:0% is actually really cool like what you 00:07:02.820 --> 00:07:04.880 align:start position:0% is actually really cool like what you could<00:07:02.970> do<00:07:03.090> is<00:07:03.240> earn<00:07:03.419> all<00:07:03.539> proofs<00:07:03.870> is<00:07:04.140> you<00:07:04.740> can 00:07:04.880 --> 00:07:04.890 align:start position:0% could do is earn all proofs is you can 00:07:04.890 --> 00:07:07.159 align:start position:0% could do is earn all proofs is you can potentially<00:07:05.220> cryptographically<00:07:05.850> prove<00:07:06.419> like 00:07:07.159 --> 00:07:07.169 align:start position:0% potentially cryptographically prove like 00:07:07.169 --> 00:07:09.050 align:start position:0% potentially cryptographically prove like a<00:07:07.200> fund<00:07:07.590> could<00:07:07.889> cryptographically<00:07:08.490> prove<00:07:08.910> its 00:07:09.050 --> 00:07:09.060 align:start position:0% a fund could cryptographically prove its 00:07:09.060 --> 00:07:11.120 align:start position:0% a fund could cryptographically prove its operating<00:07:09.600> compliantly<00:07:10.110> without<00:07:10.860> having 00:07:11.120 --> 00:07:11.130 align:start position:0% operating compliantly without having 00:07:11.130 --> 00:07:13.070 align:start position:0% operating compliantly without having just<00:07:11.280> disclosed<00:07:11.940> all<00:07:12.300> the<00:07:12.479> details<00:07:12.840> of<00:07:12.960> their 00:07:13.070 --> 00:07:13.080 align:start position:0% just disclosed all the details of their 00:07:13.080 --> 00:07:15.830 align:start position:0% just disclosed all the details of their actions<00:07:13.410> and<00:07:14.250> at<00:07:14.370> the<00:07:14.430> same<00:07:14.580> time<00:07:14.840> regulators 00:07:15.830 --> 00:07:15.840 align:start position:0% actions and at the same time regulators 00:07:15.840 --> 00:07:17.810 align:start position:0% actions and at the same time regulators could<00:07:16.169> be<00:07:16.260> given<00:07:16.530> visibility<00:07:17.130> in<00:07:17.340> the<00:07:17.460> general 00:07:17.810 --> 00:07:17.820 align:start position:0% could be given visibility in the general 00:07:17.820 --> 00:07:20.330 align:start position:0% could be given visibility in the general fund<00:07:18.000> information<00:07:18.330> but<00:07:19.320> not<00:07:19.500> access<00:07:20.010> to<00:07:20.160> other 00:07:20.330 --> 00:07:20.340 align:start position:0% fund information but not access to other 00:07:20.340 --> 00:07:22.190 align:start position:0% fund information but not access to other confidential<00:07:20.820> stuff<00:07:21.210> like<00:07:21.450> investing<00:07:22.050> half 00:07:22.190 --> 00:07:22.200 align:start position:0% confidential stuff like investing half 00:07:22.200 --> 00:07:25.550 align:start position:0% confidential stuff like investing half of<00:07:22.410> activities<00:07:23.370> lp's<00:07:23.880> or 00:07:25.550 --> 00:07:25.560 align:start position:0% of activities lp's or 00:07:25.560 --> 00:07:27.560 align:start position:0% of activities lp's or a<00:07:25.590> lot<00:07:26.040> of<00:07:26.190> these<00:07:26.310> examples<00:07:26.460> come<00:07:27.120> from<00:07:27.420> a 00:07:27.560 --> 00:07:27.570 align:start position:0% a lot of these examples come from a 00:07:27.570 --> 00:07:31.070 align:start position:0% a lot of these examples come from a specific<00:07:27.780> project<00:07:28.380> called<00:07:29.040> Endora<00:07:30.080> actually 00:07:31.070 --> 00:07:31.080 align:start position:0% specific project called Endora actually 00:07:31.080 --> 00:07:32.690 align:start position:0% specific project called Endora actually this<00:07:31.230> talk<00:07:31.500> was<00:07:31.710> inspired<00:07:32.160> a<00:07:32.310> little<00:07:32.430> bit<00:07:32.580> by 00:07:32.690 --> 00:07:32.700 align:start position:0% this talk was inspired a little bit by 00:07:32.700 --> 00:07:35.630 align:start position:0% this talk was inspired a little bit by Ben<00:07:33.450> fish<00:07:33.810> who<00:07:34.500> is<00:07:34.650> one<00:07:34.860> of<00:07:34.890> the<00:07:35.040> cofounders<00:07:35.220> of 00:07:35.630 --> 00:07:35.640 align:start position:0% Ben fish who is one of the cofounders of 00:07:35.640 --> 00:07:38.300 align:start position:0% Ben fish who is one of the cofounders of fedora<00:07:35.940> in<00:07:36.900> one<00:07:37.470> of<00:07:37.590> I<00:07:37.710> think<00:07:37.740> who<00:07:37.950> I<00:07:38.010> did<00:07:38.190> an 00:07:38.300 --> 00:07:38.310 align:start position:0% fedora in one of I think who I did an 00:07:38.310 --> 00:07:39.860 align:start position:0% fedora in one of I think who I did an interview<00:07:38.550> with<00:07:38.730> him<00:07:38.880> and<00:07:38.940> in<00:07:39.300> that<00:07:39.330> interview 00:07:39.860 --> 00:07:39.870 align:start position:0% interview with him and in that interview 00:07:39.870 --> 00:07:41.390 align:start position:0% interview with him and in that interview he<00:07:39.930> just<00:07:40.230> sort<00:07:40.350> of<00:07:40.380> mentioned<00:07:40.800> like<00:07:40.890> how<00:07:41.340> you 00:07:41.390 --> 00:07:41.400 align:start position:0% he just sort of mentioned like how you 00:07:41.400 --> 00:07:43.370 align:start position:0% he just sort of mentioned like how you could<00:07:41.610> actually<00:07:41.730> use<00:07:42.150> your<00:07:42.420> knowledge<00:07:42.960> proofs 00:07:43.370 --> 00:07:43.380 align:start position:0% could actually use your knowledge proofs 00:07:43.380 --> 00:07:47.510 align:start position:0% could actually use your knowledge proofs to<00:07:43.650> do<00:07:44.840> selective<00:07:45.840> disclosure<00:07:46.230> and<00:07:46.770> I<00:07:47.280> think 00:07:47.510 --> 00:07:47.520 align:start position:0% to do selective disclosure and I think 00:07:47.520 --> 00:07:49.880 align:start position:0% to do selective disclosure and I think that<00:07:47.790> is<00:07:48.240> one<00:07:48.540> of<00:07:48.630> the<00:07:48.720> powers<00:07:49.170> of<00:07:49.200> this<00:07:49.620> of 00:07:49.880 --> 00:07:49.890 align:start position:0% that is one of the powers of this of 00:07:49.890 --> 00:07:51.500 align:start position:0% that is one of the powers of this of this<00:07:50.100> technology<00:07:50.430> and<00:07:50.790> fedora<00:07:51.210> what<00:07:51.420> they 00:07:51.500 --> 00:07:51.510 align:start position:0% this technology and fedora what they 00:07:51.510 --> 00:07:52.610 align:start position:0% this technology and fedora what they actually<00:07:51.660> do<00:07:51.930> is<00:07:51.960> they<00:07:52.050> use<00:07:52.230> your<00:07:52.410> knowledge 00:07:52.610 --> 00:07:52.620 align:start position:0% actually do is they use your knowledge 00:07:52.620 --> 00:07:55.340 align:start position:0% actually do is they use your knowledge proofs<00:07:53.010> and<00:07:53.250> multi-party<00:07:54.240> computation<00:07:54.510> which 00:07:55.340 --> 00:07:55.350 align:start position:0% proofs and multi-party computation which 00:07:55.350 --> 00:07:57.740 align:start position:0% proofs and multi-party computation which they<00:07:55.560> related<00:07:55.980> an<00:07:56.280> equally<00:07:56.730> powerful<00:07:57.000> tool<00:07:57.480> to 00:07:57.740 --> 00:07:57.750 align:start position:0% they related an equally powerful tool to 00:07:57.750 --> 00:07:59.480 align:start position:0% they related an equally powerful tool to provide<00:07:58.380> both<00:07:58.620> privacy<00:07:59.100> and<00:07:59.310> transparency 00:07:59.480 --> 00:07:59.490 align:start position:0% provide both privacy and transparency 00:07:59.490 --> 00:08:02.510 align:start position:0% provide both privacy and transparency and<00:08:00.240> I<00:08:00.990> think<00:08:01.230> the<00:08:01.650> key<00:08:01.860> here<00:08:01.890> is<00:08:02.310> the 00:08:02.510 --> 00:08:02.520 align:start position:0% and I think the key here is the 00:08:02.520 --> 00:08:05.120 align:start position:0% and I think the key here is the selective<00:08:03.180> disclosure<00:08:03.590> it's<00:08:04.590> not<00:08:04.860> that 00:08:05.120 --> 00:08:05.130 align:start position:0% selective disclosure it's not that 00:08:05.130 --> 00:08:08.270 align:start position:0% selective disclosure it's not that everything<00:08:05.730> is<00:08:06.020> transparent<00:08:07.020> it's<00:08:07.500> not<00:08:08.100> that 00:08:08.270 --> 00:08:08.280 align:start position:0% everything is transparent it's not that 00:08:08.280 --> 00:08:09.710 align:start position:0% everything is transparent it's not that everything<00:08:08.580> is<00:08:09.030> kept<00:08:09.360> private 00:08:09.710 --> 00:08:09.720 align:start position:0% everything is kept private 00:08:09.720 --> 00:08:11.060 align:start position:0% everything is kept private you<00:08:09.900> actually<00:08:10.110> can<00:08:10.440> allow<00:08:10.620> certain 00:08:11.060 --> 00:08:11.070 align:start position:0% you actually can allow certain 00:08:11.070 --> 00:08:13.040 align:start position:0% you actually can allow certain information<00:08:11.370> through<00:08:11.880> and<00:08:12.120> keep<00:08:12.810> other 00:08:13.040 --> 00:08:13.050 align:start position:0% information through and keep other 00:08:13.050 --> 00:08:17.630 align:start position:0% information through and keep other information<00:08:13.770> private<00:08:16.220> so<00:08:17.220> the<00:08:17.310> first<00:08:17.520> example 00:08:17.630 --> 00:08:17.640 align:start position:0% information private so the first example 00:08:17.640 --> 00:08:20.660 align:start position:0% information private so the first example that<00:08:18.000> I<00:08:18.150> want<00:08:18.360> to<00:08:18.420> share<00:08:19.070> is<00:08:20.070> this<00:08:20.280> idea<00:08:20.610> of 00:08:20.660 --> 00:08:20.670 align:start position:0% that I want to share is this idea of 00:08:20.670 --> 00:08:23.990 align:start position:0% that I want to share is this idea of ensuring<00:08:21.090> kyc<00:08:21.630> so<00:08:22.470> kyc<00:08:23.010> know<00:08:23.400> your<00:08:23.550> customer 00:08:23.990 --> 00:08:24.000 align:start position:0% ensuring kyc so kyc know your customer 00:08:24.000 --> 00:08:25.520 align:start position:0% ensuring kyc so kyc know your customer this<00:08:24.240> is<00:08:24.420> something<00:08:24.720> that<00:08:24.840> you<00:08:24.930> need<00:08:25.080> to<00:08:25.230> do<00:08:25.350> if 00:08:25.520 --> 00:08:25.530 align:start position:0% this is something that you need to do if 00:08:25.530 --> 00:08:26.810 align:start position:0% this is something that you need to do if you're<00:08:25.680> running<00:08:25.860> an<00:08:26.070> exchange<00:08:26.430> if<00:08:26.700> you're 00:08:26.810 --> 00:08:26.820 align:start position:0% you're running an exchange if you're 00:08:26.820 --> 00:08:28.430 align:start position:0% you're running an exchange if you're buying<00:08:27.090> cryptocurrency<00:08:27.660> if<00:08:28.050> you're<00:08:28.170> doing 00:08:28.430 --> 00:08:28.440 align:start position:0% buying cryptocurrency if you're doing 00:08:28.440 --> 00:08:31.070 align:start position:0% buying cryptocurrency if you're doing investments<00:08:29.120> what<00:08:30.120> you<00:08:30.210> could<00:08:30.450> do<00:08:30.600> here<00:08:30.870> is 00:08:31.070 --> 00:08:31.080 align:start position:0% investments what you could do here is 00:08:31.080 --> 00:08:34.040 align:start position:0% investments what you could do here is actually<00:08:31.590> prove<00:08:32.040> that<00:08:32.460> a<00:08:33.300> participant<00:08:33.960> has 00:08:34.040 --> 00:08:34.050 align:start position:0% actually prove that a participant has 00:08:34.050 --> 00:08:36.800 align:start position:0% actually prove that a participant has passed<00:08:34.350> a<00:08:34.650> kyc<00:08:35.190> by<00:08:35.790> a<00:08:35.820> third<00:08:36.090> party<00:08:36.420> so<00:08:36.690> what 00:08:36.800 --> 00:08:36.810 align:start position:0% passed a kyc by a third party so what 00:08:36.810 --> 00:08:38.180 align:start position:0% passed a kyc by a third party so what you<00:08:36.900> do<00:08:37.050> is<00:08:37.110> you<00:08:37.260> basically<00:08:37.440> take<00:08:37.860> a<00:08:37.920> white 00:08:38.180 --> 00:08:38.190 align:start position:0% you do is you basically take a white 00:08:38.190 --> 00:08:40.880 align:start position:0% you do is you basically take a white list<00:08:38.430> and<00:08:38.670> the<00:08:39.660> white<00:08:39.990> list<00:08:40.140> of<00:08:40.290> addresses<00:08:40.470> and 00:08:40.880 --> 00:08:40.890 align:start position:0% list and the white list of addresses and 00:08:40.890 --> 00:08:43.219 align:start position:0% list and the white list of addresses and sort<00:08:41.760> of<00:08:41.820> your<00:08:42.210> selection<00:08:42.720> of<00:08:42.780> addresses 00:08:43.219 --> 00:08:43.229 align:start position:0% sort of your selection of addresses 00:08:43.229 --> 00:08:45.110 align:start position:0% sort of your selection of addresses match<00:08:43.530> that<00:08:43.890> and<00:08:44.100> then<00:08:44.490> provide<00:08:44.820> a<00:08:44.850> proof 00:08:45.110 --> 00:08:45.120 align:start position:0% match that and then provide a proof 00:08:45.120 --> 00:08:48.020 align:start position:0% match that and then provide a proof saying<00:08:45.480> like<00:08:45.720> this<00:08:46.070> like<00:08:47.070> these<00:08:47.460> addresses 00:08:48.020 --> 00:08:48.030 align:start position:0% saying like this like these addresses 00:08:48.030 --> 00:08:49.760 align:start position:0% saying like this like these addresses are<00:08:48.210> on<00:08:48.270> the<00:08:48.570> white<00:08:48.690> list<00:08:48.900> however<00:08:49.410> you 00:08:49.760 --> 00:08:49.770 align:start position:0% are on the white list however you 00:08:49.770 --> 00:08:51.620 align:start position:0% are on the white list however you wouldn't<00:08:50.070> actually<00:08:50.280> be<00:08:50.580> disclosing<00:08:51.120> which 00:08:51.620 --> 00:08:51.630 align:start position:0% wouldn't actually be disclosing which 00:08:51.630 --> 00:08:53.930 align:start position:0% wouldn't actually be disclosing which addresses<00:08:52.170> how<00:08:52.470> many<00:08:52.710> addresses<00:08:52.950> you 00:08:53.930 --> 00:08:53.940 align:start position:0% addresses how many addresses you 00:08:53.940 --> 00:08:55.430 align:start position:0% addresses how many addresses you wouldn't<00:08:54.180> have<00:08:54.300> no<00:08:54.720> one<00:08:54.900> looking<00:08:55.200> for<00:08:55.380> the 00:08:55.430 --> 00:08:55.440 align:start position:0% wouldn't have no one looking for the 00:08:55.440 --> 00:08:57.500 align:start position:0% wouldn't have no one looking for the outside<00:08:55.710> would<00:08:55.830> be<00:08:55.950> able<00:08:56.010> to<00:08:56.130> tell<00:08:56.400> who<00:08:57.180> on 00:08:57.500 --> 00:08:57.510 align:start position:0% outside would be able to tell who on 00:08:57.510 --> 00:08:59.480 align:start position:0% outside would be able to tell who on that<00:08:57.540> list<00:08:58.020> has<00:08:58.350> been<00:08:58.560> kind<00:08:59.010> of<00:08:59.040> went<00:08:59.430> through 00:08:59.480 --> 00:08:59.490 align:start position:0% that list has been kind of went through 00:08:59.490 --> 00:09:02.060 align:start position:0% that list has been kind of went through and<00:08:59.970> so<00:09:00.390> here<00:09:00.570> you<00:09:00.720> see<00:09:00.930> this<00:09:01.070> selective 00:09:02.060 --> 00:09:02.070 align:start position:0% and so here you see this selective 00:09:02.070 --> 00:09:05.600 align:start position:0% and so here you see this selective disclosure<00:09:03.830> so<00:09:04.830> another<00:09:05.070> one<00:09:05.250> would<00:09:05.400> be<00:09:05.490> to 00:09:05.600 --> 00:09:05.610 align:start position:0% disclosure so another one would be to 00:09:05.610 --> 00:09:08.840 align:start position:0% disclosure so another one would be to prevent<00:09:05.940> capital<00:09:06.510> management<00:09:06.810> fraud<00:09:07.850> funds 00:09:08.840 --> 00:09:08.850 align:start position:0% prevent capital management fraud funds 00:09:08.850 --> 00:09:10.580 align:start position:0% prevent capital management fraud funds could<00:09:09.090> demonstrate<00:09:09.330> statements<00:09:10.110> about<00:09:10.290> flows 00:09:10.580 --> 00:09:10.590 align:start position:0% could demonstrate statements about flows 00:09:10.590 --> 00:09:12.380 align:start position:0% could demonstrate statements about flows even<00:09:10.860> out<00:09:11.130> from<00:09:11.340> addresses<00:09:11.790> belonging<00:09:12.210> to 00:09:12.380 --> 00:09:12.390 align:start position:0% even out from addresses belonging to 00:09:12.390 --> 00:09:13.720 align:start position:0% even out from addresses belonging to investors<00:09:12.870> versus<00:09:13.230> invest 00:09:13.720 --> 00:09:13.730 align:start position:0% investors versus invest 00:09:13.730 --> 00:09:15.250 align:start position:0% investors versus invest and<00:09:14.030> this<00:09:14.450> could<00:09:14.690> actually<00:09:14.840> prevent 00:09:15.250 --> 00:09:15.260 align:start position:0% and this could actually prevent 00:09:15.260 --> 00:09:19.780 align:start position:0% and this could actually prevent ponzi-scheme<00:09:15.740> and<00:09:16.250> embezzlement<00:09:18.550> so<00:09:19.550> another 00:09:19.780 --> 00:09:19.790 align:start position:0% ponzi-scheme and embezzlement so another 00:09:19.790 --> 00:09:21.940 align:start position:0% ponzi-scheme and embezzlement so another example<00:09:19.940> would<00:09:20.420> be<00:09:20.480> a<00:09:20.870> server<00:09:21.590> couple 00:09:21.940 --> 00:09:21.950 align:start position:0% example would be a server couple 00:09:21.950 --> 00:09:24.610 align:start position:0% example would be a server couple examples<00:09:22.400> are<00:09:22.960> providing<00:09:23.960> better<00:09:24.200> business 00:09:24.610 --> 00:09:24.620 align:start position:0% examples are providing better business 00:09:24.620 --> 00:09:27.970 align:start position:0% examples are providing better business practices<00:09:24.770> for<00:09:25.370> trust-building<00:09:26.800> so<00:09:27.800> here's 00:09:27.970 --> 00:09:27.980 align:start position:0% practices for trust-building so here's 00:09:27.980 --> 00:09:29.080 align:start position:0% practices for trust-building so here's another<00:09:28.130> example<00:09:28.700> where<00:09:28.820> you<00:09:28.850> could 00:09:29.080 --> 00:09:29.090 align:start position:0% another example where you could 00:09:29.090 --> 00:09:31.060 align:start position:0% another example where you could communicate<00:09:29.510> better<00:09:29.750> with<00:09:30.080> investors<00:09:30.740> you 00:09:31.060 --> 00:09:31.070 align:start position:0% communicate better with investors you 00:09:31.070 --> 00:09:32.520 align:start position:0% communicate better with investors you can<00:09:31.220> actually<00:09:31.700> share<00:09:31.970> more<00:09:32.210> information 00:09:32.520 --> 00:09:32.530 align:start position:0% can actually share more information 00:09:32.530 --> 00:09:35.500 align:start position:0% can actually share more information without<00:09:33.530> revealing<00:09:33.800> the<00:09:34.040> details<00:09:34.360> you<00:09:35.360> could 00:09:35.500 --> 00:09:35.510 align:start position:0% without revealing the details you could 00:09:35.510 --> 00:09:37.090 align:start position:0% without revealing the details you could provide<00:09:35.810> on<00:09:36.110> the<00:09:36.140> code<00:09:36.380> to<00:09:36.440> be<00:09:36.560> probe<00:09:36.800> all<00:09:36.950> of 00:09:37.090 --> 00:09:37.100 align:start position:0% provide on the code to be probe all of 00:09:37.100 --> 00:09:38.860 align:start position:0% provide on the code to be probe all of the<00:09:37.160> funds<00:09:37.400> current<00:09:37.790> asset<00:09:38.090> Holdings<00:09:38.390> using<00:09:38.810> a 00:09:38.860 --> 00:09:38.870 align:start position:0% the funds current asset Holdings using a 00:09:38.870 --> 00:09:40.600 align:start position:0% the funds current asset Holdings using a public<00:09:39.050> database<00:09:39.380> of<00:09:39.770> assets<00:09:40.220> and<00:09:40.370> liquidity 00:09:40.600 --> 00:09:40.610 align:start position:0% public database of assets and liquidity 00:09:40.610 --> 00:09:42.820 align:start position:0% public database of assets and liquidity profiles<00:09:41.240> you<00:09:42.020> can<00:09:42.140> share<00:09:42.350> general 00:09:42.820 --> 00:09:42.830 align:start position:0% profiles you can share general 00:09:42.830 --> 00:09:44.710 align:start position:0% profiles you can share general information<00:09:43.490> about<00:09:43.550> a<00:09:43.700> funds<00:09:43.970> asset<00:09:44.180> without 00:09:44.710 --> 00:09:44.720 align:start position:0% information about a funds asset without 00:09:44.720 --> 00:09:46.600 align:start position:0% information about a funds asset without disclosing<00:09:45.140> which<00:09:45.620> assets<00:09:46.220> are<00:09:46.340> actually 00:09:46.600 --> 00:09:46.610 align:start position:0% disclosing which assets are actually 00:09:46.610 --> 00:09:48.190 align:start position:0% disclosing which assets are actually held<00:09:46.820> or<00:09:47.390> you<00:09:47.570> could<00:09:47.690> do<00:09:47.780> something<00:09:47.960> like<00:09:48.170> a 00:09:48.190 --> 00:09:48.200 align:start position:0% held or you could do something like a 00:09:48.200 --> 00:09:50.380 align:start position:0% held or you could do something like a proof<00:09:48.500> of<00:09:48.620> solvency<00:09:49.160> where<00:09:49.970> you<00:09:50.060> can<00:09:50.210> actually 00:09:50.380 --> 00:09:50.390 align:start position:0% proof of solvency where you can actually 00:09:50.390 --> 00:09:52.480 align:start position:0% proof of solvency where you can actually demonstrate<00:09:50.720> the<00:09:51.470> value<00:09:51.620> of<00:09:51.920> asset<00:09:52.280> backs 00:09:52.480 --> 00:09:52.490 align:start position:0% demonstrate the value of asset backs 00:09:52.490 --> 00:09:56.920 align:start position:0% demonstrate the value of asset backs back<00:09:52.940> tokens<00:09:55.060> the<00:09:56.060> value<00:09:56.450> of<00:09:56.510> the<00:09:56.600> tokens 00:09:56.920 --> 00:09:56.930 align:start position:0% back tokens the value of the tokens 00:09:56.930 --> 00:09:58.660 align:start position:0% back tokens the value of the tokens actually<00:09:57.290> exceed<00:09:57.620> the<00:09:57.740> liabilities<00:09:58.310> meaning 00:09:58.660 --> 00:09:58.670 align:start position:0% actually exceed the liabilities meaning 00:09:58.670 --> 00:10:01.300 align:start position:0% actually exceed the liabilities meaning like<00:09:58.850> the<00:09:59.660> fund<00:09:59.960> is<00:10:00.110> solvent<00:10:00.290> it<00:10:00.740> actually<00:10:01.100> has 00:10:01.300 --> 00:10:01.310 align:start position:0% like the fund is solvent it actually has 00:10:01.310 --> 00:10:02.950 align:start position:0% like the fund is solvent it actually has the<00:10:01.520> funds<00:10:01.730> it<00:10:01.940> says<00:10:02.180> and<00:10:02.570> you<00:10:02.720> can<00:10:02.840> actually 00:10:02.950 --> 00:10:02.960 align:start position:0% the funds it says and you can actually 00:10:02.960 --> 00:10:04.870 align:start position:0% the funds it says and you can actually do<00:10:03.230> that<00:10:03.350> without<00:10:03.500> revealing<00:10:03.830> how<00:10:04.130> much<00:10:04.340> or 00:10:04.870 --> 00:10:04.880 align:start position:0% do that without revealing how much or 00:10:04.880 --> 00:10:08.050 align:start position:0% do that without revealing how much or what<00:10:04.910> they<00:10:05.120> are<00:10:05.950> and<00:10:06.950> this<00:10:07.550> is<00:10:07.670> a<00:10:07.760> really 00:10:08.050 --> 00:10:08.060 align:start position:0% what they are and this is a really 00:10:08.060 --> 00:10:10.570 align:start position:0% what they are and this is a really exciting<00:10:08.330> example<00:10:08.900> which<00:10:08.990> is<00:10:09.310> it<00:10:10.310> actually 00:10:10.570 --> 00:10:10.580 align:start position:0% exciting example which is it actually 00:10:10.580 --> 00:10:12.940 align:start position:0% exciting example which is it actually uses<00:10:10.700> your<00:10:11.000> knowledge<00:10:11.270> of<00:10:11.300> proof<00:10:11.600> to<00:10:11.950> issue 00:10:12.940 --> 00:10:12.950 align:start position:0% uses your knowledge of proof to issue 00:10:12.950 --> 00:10:14.530 align:start position:0% uses your knowledge of proof to issue stocks<00:10:13.400> them<00:10:13.550> a<00:10:13.610> ledger<00:10:13.820> and<00:10:14.270> you<00:10:14.420> can 00:10:14.530 --> 00:10:14.540 align:start position:0% stocks them a ledger and you can 00:10:14.540 --> 00:10:16.120 align:start position:0% stocks them a ledger and you can actually<00:10:14.690> track<00:10:15.050> these<00:10:15.290> through<00:10:15.620> secondary 00:10:16.120 --> 00:10:16.130 align:start position:0% actually track these through secondary 00:10:16.130 --> 00:10:19.000 align:start position:0% actually track these through secondary trades<00:10:17.140> except<00:10:18.140> to<00:10:18.230> the<00:10:18.320> outside<00:10:18.770> no<00:10:18.980> one 00:10:19.000 --> 00:10:19.010 align:start position:0% trades except to the outside no one 00:10:19.010 --> 00:10:20.620 align:start position:0% trades except to the outside no one would<00:10:19.280> necessarily<00:10:19.460> know<00:10:20.000> that<00:10:20.240> you<00:10:20.390> are 00:10:20.620 --> 00:10:20.630 align:start position:0% would necessarily know that you are 00:10:20.630 --> 00:10:22.150 align:start position:0% would necessarily know that you are tracking<00:10:20.900> them<00:10:21.170> you<00:10:21.410> could<00:10:21.620> to<00:10:21.710> see<00:10:21.860> where 00:10:22.150 --> 00:10:22.160 align:start position:0% tracking them you could to see where 00:10:22.160 --> 00:10:24.430 align:start position:0% tracking them you could to see where they're<00:10:22.370> going<00:10:22.730> but<00:10:22.940> outwardly<00:10:23.150> like<00:10:23.780> no<00:10:24.290> one 00:10:24.430 --> 00:10:24.440 align:start position:0% they're going but outwardly like no one 00:10:24.440 --> 00:10:25.840 align:start position:0% they're going but outwardly like no one else<00:10:24.590> could<00:10:24.830> see<00:10:25.070> where<00:10:25.310> they're<00:10:25.490> going<00:10:25.640> it 00:10:25.840 --> 00:10:25.850 align:start position:0% else could see where they're going it 00:10:25.850 --> 00:10:26.950 align:start position:0% else could see where they're going it wouldn't<00:10:26.030> be<00:10:26.090> able<00:10:26.150> to<00:10:26.300> track<00:10:26.480> them<00:10:26.660> only 00:10:26.950 --> 00:10:26.960 align:start position:0% wouldn't be able to track them only 00:10:26.960 --> 00:10:28.510 align:start position:0% wouldn't be able to track them only you'd<00:10:27.140> be<00:10:27.290> able<00:10:27.410> to<00:10:27.560> track<00:10:27.740> them<00:10:27.950> and<00:10:28.280> you<00:10:28.400> can 00:10:28.510 --> 00:10:28.520 align:start position:0% you'd be able to track them and you can 00:10:28.520 --> 00:10:29.890 align:start position:0% you'd be able to track them and you can actually<00:10:28.760> do<00:10:28.880> that<00:10:29.060> using<00:10:29.480> certain<00:10:29.720> altar 00:10:29.890 --> 00:10:29.900 align:start position:0% actually do that using certain altar 00:10:29.900 --> 00:10:33.340 align:start position:0% actually do that using certain altar prints<00:10:30.080> as<00:10:30.200> well<00:10:31.330> so<00:10:32.330> some<00:10:32.510> other<00:10:32.690> use<00:10:33.050> cases 00:10:33.340 --> 00:10:33.350 align:start position:0% prints as well so some other use cases 00:10:33.350 --> 00:10:35.290 align:start position:0% prints as well so some other use cases that<00:10:33.680> I<00:10:33.740> kind<00:10:33.920> of<00:10:33.950> mentioned<00:10:34.430> quickly<00:10:34.940> before 00:10:35.290 --> 00:10:35.300 align:start position:0% that I kind of mentioned quickly before 00:10:35.300 --> 00:10:38.140 align:start position:0% that I kind of mentioned quickly before and<00:10:35.600> like<00:10:36.230> in<00:10:36.530> general<00:10:36.800> this<00:10:37.190> talk<00:10:37.490> is<00:10:37.790> very 00:10:38.140 --> 00:10:38.150 align:start position:0% and like in general this talk is very 00:10:38.150 --> 00:10:40.840 align:start position:0% and like in general this talk is very much<00:10:38.390> trying<00:10:39.200> to<00:10:39.410> find<00:10:39.770> ways<00:10:40.100> trusts<00:10:40.520> to<00:10:40.640> think 00:10:40.840 --> 00:10:40.850 align:start position:0% much trying to find ways trusts to think 00:10:40.850 --> 00:10:42.700 align:start position:0% much trying to find ways trusts to think about<00:10:41.090> the<00:10:41.240> power<00:10:41.420> of<00:10:41.600> zernoff<00:10:42.020> proofs<00:10:42.380> and<00:10:42.650> I 00:10:42.700 --> 00:10:42.710 align:start position:0% about the power of zernoff proofs and I 00:10:42.710 --> 00:10:44.920 align:start position:0% about the power of zernoff proofs and I hope<00:10:43.010> that<00:10:43.850> this<00:10:44.000> actually<00:10:44.360> could<00:10:44.510> inspire 00:10:44.920 --> 00:10:44.930 align:start position:0% hope that this actually could inspire 00:10:44.930 --> 00:10:47.290 align:start position:0% hope that this actually could inspire you<00:10:45.170> to<00:10:45.320> think<00:10:45.560> about<00:10:45.860> more<00:10:46.100> ideas<00:10:46.730> and<00:10:47.000> so 00:10:47.290 --> 00:10:47.300 align:start position:0% you to think about more ideas and so 00:10:47.300 --> 00:10:48.670 align:start position:0% you to think about more ideas and so other<00:10:47.450> ideas<00:10:47.810> that<00:10:47.900> have<00:10:47.990> been<00:10:48.020> floated<00:10:48.530> or 00:10:48.670 --> 00:10:48.680 align:start position:0% other ideas that have been floated or 00:10:48.680 --> 00:10:50.860 align:start position:0% other ideas that have been floated or things<00:10:48.890> like<00:10:48.980> taxes<00:10:49.520> and<00:10:49.550> auditing<00:10:50.030> supply 00:10:50.860 --> 00:10:50.870 align:start position:0% things like taxes and auditing supply 00:10:50.870 --> 00:10:52.720 align:start position:0% things like taxes and auditing supply chain<00:10:51.080> management<00:10:51.410> and<00:10:51.710> voting<00:10:52.040> there<00:10:52.550> is<00:10:52.700> a 00:10:52.720 --> 00:10:52.730 align:start position:0% chain management and voting there is a 00:10:52.730 --> 00:10:55.270 align:start position:0% chain management and voting there is a project<00:10:53.030> called<00:10:53.270> ZK<00:10:53.810> ledger<00:10:54.080> from<00:10:54.410> MIT<00:10:54.770> where 00:10:55.270 --> 00:10:55.280 align:start position:0% project called ZK ledger from MIT where 00:10:55.280 --> 00:10:56.830 align:start position:0% project called ZK ledger from MIT where they<00:10:55.460> did<00:10:55.640> a<00:10:55.670> lot<00:10:55.850> of<00:10:56.000> work<00:10:56.150> on<00:10:56.300> the<00:10:56.420> auditing 00:10:56.830 --> 00:10:56.840 align:start position:0% they did a lot of work on the auditing 00:10:56.840 --> 00:10:58.390 align:start position:0% they did a lot of work on the auditing front<00:10:57.110> as<00:10:57.650> far<00:10:57.860> as<00:10:57.920> I<00:10:58.010> know<00:10:58.130> there's<00:10:58.340> no 00:10:58.390 --> 00:10:58.400 align:start position:0% front as far as I know there's no 00:10:58.400 --> 00:11:00.460 align:start position:0% front as far as I know there's no implementations<00:10:59.180> yet<00:10:59.390> and<00:10:59.600> in<00:10:59.930> general<00:11:00.350> a<00:11:00.440> lot 00:11:00.460 --> 00:11:00.470 align:start position:0% implementations yet and in general a lot 00:11:00.470 --> 00:11:02.650 align:start position:0% implementations yet and in general a lot of<00:11:00.710> this<00:11:00.830> stuff<00:11:01.010> will<00:11:01.250> need<00:11:01.490> like<00:11:01.790> I<00:11:02.180> mean 00:11:02.650 --> 00:11:02.660 align:start position:0% of this stuff will need like I mean 00:11:02.660 --> 00:11:04.090 align:start position:0% of this stuff will need like I mean you'll<00:11:02.780> have<00:11:02.810> to<00:11:03.050> get<00:11:03.170> a<00:11:03.200> lot<00:11:03.410> of<00:11:03.440> authorities 00:11:04.090 --> 00:11:04.100 align:start position:0% you'll have to get a lot of authorities 00:11:04.100 --> 00:11:06.340 align:start position:0% you'll have to get a lot of authorities and<00:11:04.250> regulators<00:11:04.700> on<00:11:04.850> word<00:11:05.090> I<00:11:05.330> sort<00:11:05.990> of<00:11:06.050> picture 00:11:06.340 --> 00:11:06.350 align:start position:0% and regulators on word I sort of picture 00:11:06.350 --> 00:11:08.800 align:start position:0% and regulators on word I sort of picture it<00:11:06.470> being<00:11:06.680> a<00:11:06.770> combined<00:11:07.610> effort<00:11:07.880> between<00:11:08.300> funds 00:11:08.800 --> 00:11:08.810 align:start position:0% it being a combined effort between funds 00:11:08.810 --> 00:11:10.630 align:start position:0% it being a combined effort between funds and<00:11:09.170> regulators<00:11:09.800> I<00:11:10.040> don't<00:11:10.250> think<00:11:10.460> it<00:11:10.550> would 00:11:10.630 --> 00:11:10.640 align:start position:0% and regulators I don't think it would 00:11:10.640 --> 00:11:13.480 align:start position:0% and regulators I don't think it would just<00:11:10.790> come<00:11:11.120> from<00:11:11.390> industry<00:11:11.960> if<00:11:12.950> that<00:11:13.190> was 00:11:13.480 --> 00:11:13.490 align:start position:0% just come from industry if that was 00:11:13.490 --> 00:11:14.590 align:start position:0% just come from industry if that was happen<00:11:13.760> but<00:11:13.940> I<00:11:13.970> think<00:11:14.209> it<00:11:14.300> could<00:11:14.420> be<00:11:14.480> really 00:11:14.590 --> 00:11:14.600 align:start position:0% happen but I think it could be really 00:11:14.600 --> 00:11:18.790 align:start position:0% happen but I think it could be really powerful<00:11:16.060> cool<00:11:17.060> so<00:11:17.779> yeah<00:11:17.930> I<00:11:18.110> hope<00:11:18.440> that<00:11:18.500> this 00:11:18.790 --> 00:11:18.800 align:start position:0% powerful cool so yeah I hope that this 00:11:18.800 --> 00:11:20.650 align:start position:0% powerful cool so yeah I hope that this talk<00:11:19.070> has<00:11:19.220> helped<00:11:19.520> you<00:11:19.610> to<00:11:19.730> explain<00:11:20.060> I<00:11:20.360> hope 00:11:20.650 --> 00:11:20.660 align:start position:0% talk has helped you to explain I hope 00:11:20.660 --> 00:11:22.030 align:start position:0% talk has helped you to explain I hope that<00:11:20.870> I've<00:11:20.990> explained<00:11:21.410> a<00:11:21.529> little<00:11:21.620> bit<00:11:21.770> how 00:11:22.030 --> 00:11:22.040 align:start position:0% that I've explained a little bit how 00:11:22.040 --> 00:11:23.800 align:start position:0% that I've explained a little bit how valuable<00:11:22.370> your<00:11:23.000> knowledge<00:11:23.270> proofs<00:11:23.510> could<00:11:23.690> be 00:11:23.800 --> 00:11:23.810 align:start position:0% valuable your knowledge proofs could be 00:11:23.810 --> 00:11:25.690 align:start position:0% valuable your knowledge proofs could be for<00:11:24.140> our<00:11:24.230> personal<00:11:25.040> and<00:11:25.130> professional<00:11:25.220> lives 00:11:25.690 --> 00:11:25.700 align:start position:0% for our personal and professional lives 00:11:25.700 --> 00:11:28.690 align:start position:0% for our personal and professional lives and<00:11:26.500> yeah<00:11:27.500> and<00:11:27.770> how<00:11:27.950> it<00:11:28.100> provides<00:11:28.490> this 00:11:28.690 --> 00:11:28.700 align:start position:0% and yeah and how it provides this 00:11:28.700 --> 00:11:30.610 align:start position:0% and yeah and how it provides this much-needed<00:11:29.029> balance<00:11:29.690> between<00:11:29.870> privacy<00:11:30.260> and 00:11:30.610 --> 00:11:30.620 align:start position:0% much-needed balance between privacy and 00:11:30.620 --> 00:11:33.610 align:start position:0% much-needed balance between privacy and transparency<00:11:31.060> and<00:11:32.060> before<00:11:32.959> I<00:11:32.990> end<00:11:33.260> I<00:11:33.410> want<00:11:33.589> to 00:11:33.610 --> 00:11:33.620 align:start position:0% transparency and before I end I want to 00:11:33.620 --> 00:11:35.829 align:start position:0% transparency and before I end I want to say<00:11:33.680> a<00:11:33.800> big<00:11:34.010> thank<00:11:34.250> you<00:11:34.279> to<00:11:34.370> that<00:11:35.180> fish<00:11:35.390> as<00:11:35.660> I 00:11:35.829 --> 00:11:35.839 align:start position:0% say a big thank you to that fish as I 00:11:35.839 --> 00:11:37.750 align:start position:0% say a big thank you to that fish as I mentioned<00:11:36.200> from<00:11:36.800> Fedora<00:11:37.160> because<00:11:37.430> you<00:11:37.520> really 00:11:37.750 --> 00:11:37.760 align:start position:0% mentioned from Fedora because you really 00:11:37.760 --> 00:11:39.670 align:start position:0% mentioned from Fedora because you really helped<00:11:38.000> me<00:11:38.029> work<00:11:38.660> on<00:11:38.810> this<00:11:38.930> talk<00:11:39.170> and<00:11:39.380> come<00:11:39.529> up 00:11:39.670 --> 00:11:39.680 align:start position:0% helped me work on this talk and come up 00:11:39.680 --> 00:11:41.860 align:start position:0% helped me work on this talk and come up with<00:11:39.800> those<00:11:39.980> points<00:11:40.459> I<00:11:40.640> think<00:11:41.180> their<00:11:41.480> projects 00:11:41.860 --> 00:11:41.870 align:start position:0% with those points I think their projects 00:11:41.870 --> 00:11:43.449 align:start position:0% with those points I think their projects pretty<00:11:42.050> cool<00:11:42.260> I<00:11:42.500> don't<00:11:42.830> work<00:11:42.950> for<00:11:42.980> them<00:11:43.220> but<00:11:43.399> I 00:11:43.449 --> 00:11:43.459 align:start position:0% pretty cool I don't work for them but I 00:11:43.459 --> 00:11:46.210 align:start position:0% pretty cool I don't work for them but I just<00:11:43.580> I<00:11:43.850> think<00:11:44.180> they<00:11:44.450> inspired<00:11:44.810> us<00:11:45.020> so<00:11:45.260> I<00:11:45.529> wanna 00:11:46.210 --> 00:11:46.220 align:start position:0% just I think they inspired us so I wanna 00:11:46.220 --> 00:11:54.880 align:start position:0% just I think they inspired us so I wanna say<00:11:46.399> thank<00:11:46.610> you<00:11:46.700> to<00:11:46.820> them<00:11:53.529> this<00:11:54.529> is<00:11:54.589> a<00:11:54.800> very 00:11:54.880 --> 00:11:54.890 align:start position:0% say thank you to them this is a very 00:11:54.890 --> 00:11:56.920 align:start position:0% say thank you to them this is a very high-level<00:11:55.430> talk<00:11:55.910> the<00:11:56.540> zero<00:11:56.779> knowledge 00:11:56.920 --> 00:11:56.930 align:start position:0% high-level talk the zero knowledge 00:11:56.930 --> 00:11:58.389 align:start position:0% high-level talk the zero knowledge summit<00:11:57.380> is<00:11:57.529> something<00:11:57.860> that<00:11:57.950> I'm<00:11:58.040> thrown<00:11:58.279> in 00:11:58.389 --> 00:11:58.399 align:start position:0% summit is something that I'm thrown in 00:11:58.399 --> 00:11:59.800 align:start position:0% summit is something that I'm thrown in San<00:11:58.580> Francisco<00:11:59.000> at<00:11:59.300> the<00:11:59.450> end<00:11:59.570> of<00:11:59.660> month 00:11:59.800 --> 00:11:59.810 align:start position:0% San Francisco at the end of month 00:11:59.810 --> 00:12:02.139 align:start position:0% San Francisco at the end of month October<00:12:00.470> 26<00:12:00.890> if<00:12:01.160> you're<00:12:01.339> into<00:12:01.700> that<00:12:01.790> if<00:12:02.029> you're 00:12:02.139 --> 00:12:02.149 align:start position:0% October 26 if you're into that if you're 00:12:02.149 --> 00:12:04.329 align:start position:0% October 26 if you're into that if you're there<00:12:02.420> please<00:12:02.810> apply<00:12:03.200> that<00:12:03.860> will<00:12:04.130> have 00:12:04.329 --> 00:12:04.339 align:start position:0% there please apply that will have 00:12:04.339 --> 00:12:05.650 align:start position:0% there please apply that will have actually<00:12:04.670> some<00:12:04.850> of<00:12:04.880> the<00:12:05.000> best<00:12:05.089> researchers 00:12:05.650 --> 00:12:05.660 align:start position:0% actually some of the best researchers 00:12:05.660 --> 00:12:08.530 align:start position:0% actually some of the best researchers around<00:12:06.100> talking<00:12:07.100> about<00:12:07.339> details<00:12:08.029> of<00:12:08.360> their 00:12:08.530 --> 00:12:08.540 align:start position:0% around talking about details of their 00:12:08.540 --> 00:12:10.329 align:start position:0% around talking about details of their protocols<00:12:09.050> and<00:12:09.380> so<00:12:09.620> I<00:12:09.649> hope<00:12:09.920> that<00:12:09.950> you<00:12:10.220> will 00:12:10.329 --> 00:12:10.339 align:start position:0% protocols and so I hope that you will 00:12:10.339 --> 00:12:13.840 align:start position:0% protocols and so I hope that you will consider<00:12:10.550> coming<00:12:12.220> so<00:12:13.220> I<00:12:13.250> don't<00:12:13.640> know<00:12:13.700> if<00:12:13.760> you 00:12:13.840 --> 00:12:13.850 align:start position:0% consider coming so I don't know if you 00:12:13.850 --> 00:12:15.850 align:start position:0% consider coming so I don't know if you have<00:12:13.970> any<00:12:14.089> questions<00:12:14.540> or<00:12:15.380> if<00:12:15.589> you<00:12:15.680> actually 00:12:15.850 --> 00:12:15.860 align:start position:0% have any questions or if you actually 00:12:15.860 --> 00:12:17.800 align:start position:0% have any questions or if you actually give<00:12:16.190> any<00:12:16.370> comments<00:12:16.880> given<00:12:17.209> me<00:12:17.300> and<00:12:17.420> ideas 00:12:17.800 --> 00:12:17.810 align:start position:0% give any comments given me and ideas 00:12:17.810 --> 00:12:19.470 align:start position:0% give any comments given me and ideas that<00:12:18.110> would<00:12:18.170> be<00:12:18.290> really<00:12:18.529> interesting<00:12:18.920> to<00:12:19.040> hear 00:12:19.470 --> 00:12:19.480 align:start position:0% that would be really interesting to hear 00:12:19.480 --> 00:12:22.280 align:start position:0% that would be really interesting to hear also<00:12:20.480> I<00:12:20.510> think<00:12:20.600> there's<00:12:20.870> only<00:12:20.990> one 00:12:22.280 --> 00:12:22.290 align:start position:0% also I think there's only one 00:12:22.290 --> 00:12:29.500 align:start position:0% also I think there's only one so 00:12:29.500 --> 00:12:29.510 align:start position:0% 00:12:29.510 --> 00:12:32.690 align:start position:0% you<00:12:30.510> get<00:12:30.720> lakhs<00:12:31.230> welcome<00:12:32.070> two<00:12:32.190> men<00:12:32.340> to<00:12:32.460> do<00:12:32.580> this 00:12:32.690 --> 00:12:32.700 align:start position:0% you get lakhs welcome two men to do this 00:12:32.700 --> 00:12:42.210 align:start position:0% you get lakhs welcome two men to do this you<00:12:32.820> know 00:12:42.210 --> 00:12:42.220 align:start position:0% 00:12:42.220 --> 00:12:47.110 align:start position:0% inside<00:12:43.220> these<00:12:43.370> 18<00:12:43.640> digital<00:12:44.060> machines<00:12:44.710> so<00:12:46.120> well 00:12:47.110 --> 00:12:47.120 align:start position:0% inside these 18 digital machines so well 00:12:47.120 --> 00:12:48.520 align:start position:0% inside these 18 digital machines so well I<00:12:47.150> know<00:12:47.210> that<00:12:47.390> there's<00:12:47.690> a<00:12:47.780> lot<00:12:47.930> of<00:12:47.990> projects 00:12:48.520 --> 00:12:48.530 align:start position:0% I know that there's a lot of projects 00:12:48.530 --> 00:12:50.860 align:start position:0% I know that there's a lot of projects that<00:12:48.620> are<00:12:48.680> building<00:12:49.100> on<00:12:49.280> top<00:12:49.520> of<00:12:49.580> the<00:12:50.570> air 00:12:50.860 --> 00:12:50.870 align:start position:0% that are building on top of the air 00:12:50.870 --> 00:12:52.240 align:start position:0% that are building on top of the air virtual<00:12:51.260> machine<00:12:51.500> using<00:12:51.890> zero<00:12:52.100> knowledge 00:12:52.240 --> 00:12:52.250 align:start position:0% virtual machine using zero knowledge 00:12:52.250 --> 00:12:55.240 align:start position:0% virtual machine using zero knowledge proof<00:12:52.810> stuff<00:12:53.810> and<00:12:54.380> I'm<00:12:54.560> sure<00:12:54.740> you<00:12:54.890> could<00:12:55.070> do 00:12:55.240 --> 00:12:55.250 align:start position:0% proof stuff and I'm sure you could do 00:12:55.250 --> 00:12:57.280 align:start position:0% proof stuff and I'm sure you could do private<00:12:55.790> transactions<00:12:56.390> with<00:12:56.600> them<00:12:56.810> but<00:12:57.260> I 00:12:57.280 --> 00:12:57.290 align:start position:0% private transactions with them but I 00:12:57.290 --> 00:12:58.450 align:start position:0% private transactions with them but I think<00:12:57.380> what<00:12:57.680> we're<00:12:57.830> talking<00:12:58.130> about<00:12:58.160> here<00:12:58.400> is 00:12:58.450 --> 00:12:58.460 align:start position:0% think what we're talking about here is 00:12:58.460 --> 00:13:00.670 align:start position:0% think what we're talking about here is actually<00:12:58.730> its<00:12:59.270> constructions<00:13:00.170> using<00:13:00.620> this 00:13:00.670 --> 00:13:00.680 align:start position:0% actually its constructions using this 00:13:00.680 --> 00:13:01.900 align:start position:0% actually its constructions using this you're<00:13:00.800> an<00:13:00.920> entrepreneur<00:13:01.370> and<00:13:01.550> as<00:13:01.790> I 00:13:01.900 --> 00:13:01.910 align:start position:0% you're an entrepreneur and as I 00:13:01.910 --> 00:13:04.060 align:start position:0% you're an entrepreneur and as I mentioned<00:13:02.210> also<00:13:02.330> NPCs<00:13:02.990> it<00:13:03.710> sounds<00:13:03.950> like 00:13:04.060 --> 00:13:04.070 align:start position:0% mentioned also NPCs it sounds like 00:13:04.070 --> 00:13:06.670 align:start position:0% mentioned also NPCs it sounds like you've<00:13:04.790> actually<00:13:05.060> designed<00:13:05.660> systems<00:13:06.290> that 00:13:06.670 --> 00:13:06.680 align:start position:0% you've actually designed systems that 00:13:06.680 --> 00:13:53.460 align:start position:0% you've actually designed systems that allow<00:13:06.890> for<00:13:06.950> the<00:13:07.280> disclosure<00:13:11.350> right<00:13:12.350> now<00:13:23.290> using 00:13:53.460 --> 00:13:53.470 align:start position:0% 00:13:53.470 --> 00:13:57.130 align:start position:0% this<00:13:54.470> ability<00:13:55.250> over<00:13:55.850> a<00:13:56.180> blank<00:13:56.570> there's<00:13:56.930> no 00:13:57.130 --> 00:13:57.140 align:start position:0% this ability over a blank there's no 00:13:57.140 --> 00:14:00.130 align:start position:0% this ability over a blank there's no logic<00:13:57.470> rules<00:13:57.589> for<00:13:57.920> the<00:13:58.160> Texas<00:13:58.640> and<00:13:59.240> I<00:13:59.720> would 00:14:00.130 --> 00:14:00.140 align:start position:0% logic rules for the Texas and I would 00:14:00.140 --> 00:14:04.329 align:start position:0% logic rules for the Texas and I would say<00:14:00.380> that<00:14:00.620> it<00:14:00.860> is<00:14:01.870> absolutely<00:14:02.870> a<00:14:03.260> challenge<00:14:03.920> to 00:14:04.329 --> 00:14:04.339 align:start position:0% say that it is absolutely a challenge to 00:14:04.339 --> 00:14:08.980 align:start position:0% say that it is absolutely a challenge to convince<00:14:05.260> eventual<00:14:06.260> ministry<00:14:06.800> to<00:14:07.660> use<00:14:08.660> of 00:14:08.980 --> 00:14:08.990 align:start position:0% convince eventual ministry to use of 00:14:08.990 --> 00:14:12.310 align:start position:0% convince eventual ministry to use of these<00:14:09.170> technology<00:14:09.950> it's<00:14:10.540> completely<00:14:11.540> another 00:14:12.310 --> 00:14:12.320 align:start position:0% these technology it's completely another 00:14:12.320 --> 00:14:15.790 align:start position:0% these technology it's completely another level<00:14:12.800> of<00:14:13.100> check<00:14:13.370> so<00:14:13.940> all<00:14:14.480> these<00:14:15.230> emulation 00:14:15.790 --> 00:14:15.800 align:start position:0% level of check so all these emulation 00:14:15.800 --> 00:14:18.670 align:start position:0% level of check so all these emulation auditory<00:14:16.370> understand<00:14:17.270> the<00:14:17.690> power<00:14:17.960> of<00:14:18.260> zero 00:14:18.670 --> 00:14:18.680 align:start position:0% auditory understand the power of zero 00:14:18.680 --> 00:14:20.800 align:start position:0% auditory understand the power of zero knowledge<00:14:18.920> proves<00:14:19.339> but<00:14:19.760> you<00:14:19.970> need<00:14:20.240> to<00:14:20.540> prove 00:14:20.800 --> 00:14:20.810 align:start position:0% knowledge proves but you need to prove 00:14:20.810 --> 00:14:25.540 align:start position:0% knowledge proves but you need to prove it<00:14:21.080> yes<00:14:21.890> for<00:14:22.160> the<00:14:22.760> government<00:14:24.130> that's<00:14:25.130> that's 00:14:25.540 --> 00:14:25.550 align:start position:0% it yes for the government that's that's 00:14:25.550 --> 00:14:27.160 align:start position:0% it yes for the government that's that's actually<00:14:25.670> one<00:14:25.940> of<00:14:25.970> the<00:14:26.060> reasons<00:14:26.390> why<00:14:26.510> I<00:14:26.960> don't 00:14:27.160 --> 00:14:27.170 align:start position:0% actually one of the reasons why I don't 00:14:27.170 --> 00:14:30.010 align:start position:0% actually one of the reasons why I don't totally<00:14:27.380> see<00:14:27.770> it<00:14:27.890> coming<00:14:28.339> from<00:14:28.640> industry<00:14:29.570> and 00:14:30.010 --> 00:14:30.020 align:start position:0% totally see it coming from industry and 00:14:30.020 --> 00:14:31.630 align:start position:0% totally see it coming from industry and like<00:14:30.260> having<00:14:30.560> industry<00:14:30.980> pitch<00:14:31.250> it<00:14:31.460> to 00:14:31.630 --> 00:14:31.640 align:start position:0% like having industry pitch it to 00:14:31.640 --> 00:14:34.900 align:start position:0% like having industry pitch it to government<00:14:32.570> but<00:14:32.990> rather<00:14:33.050> like<00:14:33.580> soar<00:14:34.580> through 00:14:34.900 --> 00:14:34.910 align:start position:0% government but rather like soar through 00:14:34.910 --> 00:14:37.630 align:start position:0% government but rather like soar through education<00:14:35.510> or<00:14:35.660> through<00:14:35.839> like<00:14:36.640> evangelizing 00:14:37.630 --> 00:14:37.640 align:start position:0% education or through like evangelizing 00:14:37.640 --> 00:14:39.820 align:start position:0% education or through like evangelizing these<00:14:37.910> ideas<00:14:38.420> potentially<00:14:39.290> have<00:14:39.470> people 00:14:39.820 --> 00:14:39.830 align:start position:0% these ideas potentially have people 00:14:39.830 --> 00:14:42.040 align:start position:0% these ideas potentially have people within<00:14:40.010> those<00:14:40.430> bodies<00:14:41.210> come<00:14:41.630> up<00:14:41.750> with<00:14:41.930> those 00:14:42.040 --> 00:14:42.050 align:start position:0% within those bodies come up with those 00:14:42.050 --> 00:14:44.140 align:start position:0% within those bodies come up with those ideas<00:14:42.200> themselves<00:14:42.580> which<00:14:43.580> may<00:14:43.760> be<00:14:43.940> good<00:14:44.120> or 00:14:44.140 --> 00:14:44.150 align:start position:0% ideas themselves which may be good or 00:14:44.150 --> 00:14:45.520 align:start position:0% ideas themselves which may be good or bad<00:14:44.390> but<00:14:44.630> I<00:14:44.690> think<00:14:44.750> it's<00:14:44.990> good<00:14:45.170> that<00:14:45.200> we<00:14:45.320> keep 00:14:45.520 --> 00:14:45.530 align:start position:0% bad but I think it's good that we keep 00:14:45.530 --> 00:14:47.410 align:start position:0% bad but I think it's good that we keep an<00:14:45.650> eye<00:14:45.770> on<00:14:45.800> it 00:14:47.410 --> 00:14:47.420 align:start position:0% an eye on it 00:14:47.420 --> 00:14:52.120 align:start position:0% an eye on it I<00:14:47.589> find<00:14:48.589> a<00:14:48.740> lot<00:14:48.920> of<00:14:49.550> that<00:14:50.800> though<00:14:51.800> there's<00:14:52.040> a 00:14:52.120 --> 00:14:52.130 align:start position:0% I find a lot of that though there's a 00:14:52.130 --> 00:14:54.950 align:start position:0% I find a lot of that though there's a motive<00:14:52.700> I<00:14:52.850> mean<00:14:53.180> Singapore 00:14:54.950 --> 00:14:54.960 align:start position:0% motive I mean Singapore 00:14:54.960 --> 00:14:59.480 align:start position:0% motive I mean Singapore to<00:14:55.110> Authority<00:14:55.770> the<00:14:56.010> launcher<00:14:58.100> kind<00:14:59.100> of<00:14:59.220> like<00:14:59.460> a 00:14:59.480 --> 00:14:59.490 align:start position:0% to Authority the launcher kind of like a 00:14:59.490 --> 00:15:02.030 align:start position:0% to Authority the launcher kind of like a -<00:14:59.880> notable<00:15:00.630> fortune<00:15:01.200> Plumtree 00:15:02.030 --> 00:15:02.040 align:start position:0% - notable fortune Plumtree 00:15:02.040 --> 00:15:06.170 align:start position:0% - notable fortune Plumtree and<00:15:02.940> one<00:15:03.390> on<00:15:03.600> through<00:15:03.899> the<00:15:05.180> implementations 00:15:06.170 --> 00:15:06.180 align:start position:0% and one on through the implementations 00:15:06.180 --> 00:15:09.290 align:start position:0% and one on through the implementations is<00:15:06.360> as<00:15:06.570> easy<00:15:06.720> as<00:15:07.050> proof<00:15:07.520> serious<00:15:08.520> importance 00:15:09.290 --> 00:15:09.300 align:start position:0% is as easy as proof serious importance 00:15:09.300 --> 00:15:19.040 align:start position:0% is as easy as proof serious importance with<00:15:09.480> much<00:15:09.660> proof<00:15:10.250> for<00:15:11.250> in<00:15:11.339> the<00:15:11.490> bank<00:15:11.730> I<00:15:18.050> mean 00:15:19.040 --> 00:15:19.050 align:start position:0% with much proof for in the bank I mean 00:15:19.050 --> 00:15:22.250 align:start position:0% with much proof for in the bank I mean just<00:15:19.260> just<00:15:19.320> give<00:15:19.740> example<00:15:20.370> I<00:15:21.110> mean<00:15:22.110> I'd<00:15:22.230> be 00:15:22.250 --> 00:15:22.260 align:start position:0% just just give example I mean I'd be 00:15:22.260 --> 00:15:24.019 align:start position:0% just just give example I mean I'd be curious<00:15:22.560> to<00:15:22.740> hear<00:15:22.890> exactly<00:15:23.279> what<00:15:23.790> they're 00:15:24.019 --> 00:15:24.029 align:start position:0% curious to hear exactly what they're 00:15:24.029 --> 00:15:25.340 align:start position:0% curious to hear exactly what they're doing<00:15:24.060> there<00:15:24.570> because<00:15:24.870> it<00:15:25.080> means<00:15:25.200> your 00:15:25.340 --> 00:15:25.350 align:start position:0% doing there because it means your 00:15:25.350 --> 00:15:26.930 align:start position:0% doing there because it means your knowledge<00:15:25.649> proofs<00:15:25.920> can<00:15:26.130> be<00:15:26.250> powerful<00:15:26.580> for<00:15:26.880> all 00:15:26.930 --> 00:15:26.940 align:start position:0% knowledge proofs can be powerful for all 00:15:26.940 --> 00:15:28.250 align:start position:0% knowledge proofs can be powerful for all sorts<00:15:27.300> of<00:15:27.360> things<00:15:27.510> but<00:15:27.750> here<00:15:28.020> what<00:15:28.170> I'm 00:15:28.250 --> 00:15:28.260 align:start position:0% sorts of things but here what I'm 00:15:28.260 --> 00:15:30.170 align:start position:0% sorts of things but here what I'm talking<00:15:28.589> about<00:15:28.649> is<00:15:28.890> like<00:15:29.040> compliance<00:15:29.820> or<00:15:30.029> like 00:15:30.170 --> 00:15:30.180 align:start position:0% talking about is like compliance or like 00:15:30.180 --> 00:15:32.660 align:start position:0% talking about is like compliance or like some<00:15:30.450> information<00:15:30.630> is<00:15:31.320> revealed<00:15:31.649> and<00:15:32.310> some<00:15:32.520> is 00:15:32.660 --> 00:15:32.670 align:start position:0% some information is revealed and some is 00:15:32.670 --> 00:15:34.340 align:start position:0% some information is revealed and some is kept<00:15:32.940> private 00:15:34.340 --> 00:15:34.350 align:start position:0% kept private 00:15:34.350 --> 00:15:36.530 align:start position:0% kept private so<00:15:34.470> I<00:15:34.500> like<00:15:35.100> I'd<00:15:35.250> be<00:15:35.370> curious<00:15:35.430> to<00:15:35.700> hear<00:15:35.850> exactly 00:15:36.530 --> 00:15:36.540 align:start position:0% so I like I'd be curious to hear exactly 00:15:36.540 --> 00:15:37.970 align:start position:0% so I like I'd be curious to hear exactly where<00:15:36.810> they<00:15:36.990> use<00:15:37.110> it<00:15:37.290> doesn't<00:15:37.770> think<00:15:37.860> it's 00:15:37.970 --> 00:15:37.980 align:start position:0% where they use it doesn't think it's 00:15:37.980 --> 00:15:39.590 align:start position:0% where they use it doesn't think it's like<00:15:38.100> there<00:15:38.490> are<00:15:38.640> actually<00:15:38.970> examples<00:15:39.270> in 00:15:39.590 --> 00:15:39.600 align:start position:0% like there are actually examples in 00:15:39.600 --> 00:15:40.970 align:start position:0% like there are actually examples in health<00:15:39.899> care<00:15:40.110> of<00:15:40.290> spirit<00:15:40.560> knowledge<00:15:40.709> groups 00:15:40.970 --> 00:15:40.980 align:start position:0% health care of spirit knowledge groups 00:15:40.980 --> 00:15:42.800 align:start position:0% health care of spirit knowledge groups that's<00:15:41.459> so<00:15:41.640> far<00:15:41.790> there's<00:15:41.970> no<00:15:42.060> exams<00:15:42.330> you're<00:15:42.720> an 00:15:42.800 --> 00:15:42.810 align:start position:0% that's so far there's no exams you're an 00:15:42.810 --> 00:15:44.449 align:start position:0% that's so far there's no exams you're an awful<00:15:42.990> person<00:15:43.020> and<00:15:43.440> blockchain<00:15:43.740> that<00:15:44.339> are 00:15:44.449 --> 00:15:44.459 align:start position:0% awful person and blockchain that are 00:15:44.459 --> 00:15:46.730 align:start position:0% awful person and blockchain that are like<00:15:44.640> really<00:15:44.910> working<00:15:45.690> in<00:15:46.110> the<00:15:46.410> way<00:15:46.529> that<00:15:46.709> a 00:15:46.730 --> 00:15:46.740 align:start position:0% like really working in the way that a 00:15:46.740 --> 00:15:52.100 align:start position:0% like really working in the way that a hospital<00:15:46.890> would<00:15:47.250> be<00:15:47.310> known<00:15:47.610> to<00:15:50.480> or<00:15:51.480> maybe<00:15:51.990> you 00:15:52.100 --> 00:15:52.110 align:start position:0% hospital would be known to or maybe you 00:15:52.110 --> 00:15:58.460 align:start position:0% hospital would be known to or maybe you have<00:15:52.260> a<00:15:52.290> counter<00:15:52.740> example<00:15:57.080> they're<00:15:58.080> doing<00:15:58.380> a 00:15:58.460 --> 00:15:58.470 align:start position:0% have a counter example they're doing a 00:15:58.470 --> 00:16:01.699 align:start position:0% have a counter example they're doing a kind<00:15:58.709> of<00:15:58.830> real-time<00:15:59.070> contentment<00:16:00.709> between 00:16:01.699 --> 00:16:01.709 align:start position:0% kind of real-time contentment between 00:16:01.709 --> 00:16:05.360 align:start position:0% kind of real-time contentment between pens<00:16:01.980> and<00:16:02.540> so<00:16:03.540> this<00:16:03.870> is<00:16:04.020> kind<00:16:04.260> of<00:16:04.350> they<00:16:05.220> have 00:16:05.360 --> 00:16:05.370 align:start position:0% pens and so this is kind of they have 00:16:05.370 --> 00:16:09.470 align:start position:0% pens and so this is kind of they have had 00:16:09.470 --> 00:16:09.480 align:start position:0% 00:16:09.480 --> 00:16:13.220 align:start position:0% let's<00:16:10.019> enjoy<00:16:10.709> our<00:16:11.009> treatments<00:16:11.970> yes<00:16:12.480> and<00:16:12.989> I 00:16:13.220 --> 00:16:13.230 align:start position:0% let's enjoy our treatments yes and I 00:16:13.230 --> 00:16:17.359 align:start position:0% let's enjoy our treatments yes and I think<00:16:13.410> the<00:16:13.649> bullet<00:16:14.429> I<00:16:14.809> missed<00:16:15.809> out<00:16:16.019> on<00:16:16.049> Laura 00:16:17.359 --> 00:16:17.369 align:start position:0% think the bullet I missed out on Laura 00:16:17.369 --> 00:16:20.269 align:start position:0% think the bullet I missed out on Laura it's<00:16:17.489> a<00:16:17.579> pony<00:16:17.790> scented<00:16:18.269> bicycle<00:16:18.660> chain<00:16:19.279> yes 00:16:20.269 --> 00:16:20.279 align:start position:0% it's a pony scented bicycle chain yes 00:16:20.279 --> 00:16:22.759 align:start position:0% it's a pony scented bicycle chain yes undeveloped<00:16:20.999> also<00:16:21.540> into<00:16:21.989> I<00:16:22.019> think<00:16:22.230> is<00:16:22.410> like 00:16:22.759 --> 00:16:22.769 align:start position:0% undeveloped also into I think is like 00:16:22.769 --> 00:16:25.400 align:start position:0% undeveloped also into I think is like NASA<00:16:23.639> and<00:16:24.119> all<00:16:24.209> those<00:16:24.419> things<00:16:24.629> I<00:16:24.749> can<00:16:24.779> get<00:16:25.169> back 00:16:25.400 --> 00:16:25.410 align:start position:0% NASA and all those things I can get back 00:16:25.410 --> 00:16:27.939 align:start position:0% NASA and all those things I can get back home 00:16:27.939 --> 00:16:27.949 align:start position:0% 00:16:27.949 --> 00:16:30.979 align:start position:0% my<00:16:28.949> pictures<00:16:29.369> to<00:16:29.399> hear<00:16:29.759> from<00:16:30.119> that<00:16:30.329> example<00:16:30.689> if 00:16:30.979 --> 00:16:30.989 align:start position:0% my pictures to hear from that example if 00:16:30.989 --> 00:16:33.079 align:start position:0% my pictures to hear from that example if there<00:16:31.199> are<00:16:31.230> actually<00:16:31.679> like<00:16:31.859> is<00:16:32.249> that<00:16:32.309> designed 00:16:33.079 --> 00:16:33.089 align:start position:0% there are actually like is that designed 00:16:33.089 --> 00:16:35.419 align:start position:0% there are actually like is that designed by<00:16:33.480> regulators<00:16:34.259> are<00:16:34.559> set<00:16:34.799> designed<00:16:35.129> by<00:16:35.399> a 00:16:35.419 --> 00:16:35.429 align:start position:0% by regulators are set designed by a 00:16:35.429 --> 00:16:39.019 align:start position:0% by regulators are set designed by a consortium<00:16:35.669> of<00:16:36.329> banks<00:16:36.799> so<00:16:37.799> big<00:16:38.129> yeah<00:16:38.699> so 00:16:39.019 --> 00:16:39.029 align:start position:0% consortium of banks so big yeah so 00:16:39.029 --> 00:16:40.819 align:start position:0% consortium of banks so big yeah so religion<00:16:39.749> is<00:16:39.839> kind<00:16:40.350> of<00:16:40.439> interesting 00:16:40.819 --> 00:16:40.829 align:start position:0% religion is kind of interesting 00:16:40.829 --> 00:16:43.309 align:start position:0% religion is kind of interesting intelligent<00:16:41.699> I<00:16:42.119> mean<00:16:42.299> not<00:16:42.480> thought<00:16:43.019> it<00:16:43.049> so 00:16:43.309 --> 00:16:43.319 align:start position:0% intelligent I mean not thought it so 00:16:43.319 --> 00:16:46.359 align:start position:0% intelligent I mean not thought it so much<00:16:43.559> in<00:16:44.339> order<00:16:44.549> for<00:16:44.730> this<00:16:45.119> communicates<00:16:45.749> to 00:16:46.359 --> 00:16:46.369 align:start position:0% much in order for this communicates to 00:16:46.369 --> 00:16:58.099 align:start position:0% much in order for this communicates to political<00:16:47.369> lives<00:16:56.149> also<00:16:57.149> it<00:16:57.540> was<00:16:57.720> basically 00:16:58.099 --> 00:16:58.109 align:start position:0% political lives also it was basically 00:16:58.109 --> 00:17:00.859 align:start position:0% political lives also it was basically like<00:16:58.350> a<00:16:58.410> call<00:16:58.769> government<00:16:59.669> there<00:17:00.480> were<00:17:00.600> three 00:17:00.859 --> 00:17:00.869 align:start position:0% like a call government there were three 00:17:00.869 --> 00:17:04.490 align:start position:0% like a call government there were three industry<00:17:01.910> limitations<00:17:02.910> that<00:17:03.179> defunded<00:17:03.929> to<00:17:04.350> do 00:17:04.490 --> 00:17:04.500 align:start position:0% industry limitations that defunded to do 00:17:04.500 --> 00:17:07.399 align:start position:0% industry limitations that defunded to do it<00:17:04.679> and<00:17:05.370> the<00:17:05.549> author<00:17:05.699> evaluates<00:17:06.600> and<00:17:06.959> publish 00:17:07.399 --> 00:17:07.409 align:start position:0% it and the author evaluates and publish 00:17:07.409 --> 00:17:09.949 align:start position:0% it and the author evaluates and publish the<00:17:07.559> results<00:17:07.709> and<00:17:08.309> their<00:17:08.600> deterrence<00:17:09.600> to<00:17:09.750> a 00:17:09.949 --> 00:17:09.959 align:start position:0% the results and their deterrence to a 00:17:09.959 --> 00:17:11.630 align:start position:0% the results and their deterrence to a higher 00:17:11.630 --> 00:17:11.640 align:start position:0% higher 00:17:11.640 --> 00:17:17.150 align:start position:0% higher Oh<00:17:13.610> are<00:17:14.610> we<00:17:14.760> of<00:17:14.970> three<00:17:15.240> minutes<00:17:15.420> left<00:17:16.160> anyone 00:17:17.150 --> 00:17:17.160 align:start position:0% Oh are we of three minutes left anyone 00:17:17.160 --> 00:17:20.740 align:start position:0% Oh are we of three minutes left anyone else<00:17:17.339> have<00:17:17.520> any<00:17:17.670> questions<00:17:17.850> or<00:17:18.390> ideas 00:17:20.740 --> 00:17:20.750 align:start position:0% 00:17:20.750 --> 00:17:24.680 align:start position:0% if<00:17:21.750> not<00:17:22.050> then<00:17:22.440> thank<00:17:23.310> you<00:17:23.400> for<00:17:23.790> listening<00:17:23.940> and 00:17:24.680 --> 00:17:24.690 align:start position:0% if not then thank you for listening and 00:17:24.690 --> 00:17:26.480 align:start position:0% if not then thank you for listening and yeah<00:17:25.230> I<00:17:25.260> hope<00:17:25.500> this<00:17:25.709> hope<00:17:26.010> you<00:17:26.190> think<00:17:26.370> about 00:17:26.480 --> 00:17:26.490 align:start position:0% yeah I hope this hope you think about 00:17:26.490 --> 00:17:31.810 align:start position:0% yeah I hope this hope you think about these<00:17:26.790> ideas<00:17:26.970> that<00:17:27.390> you<00:17:27.450> guys<00:17:27.750> do 00:17:31.810 --> 00:17:31.820 align:start position:0% 00:17:31.820 --> 00:17:38.510 align:start position:0% [Applause]