►
From YouTube: MakerDAO Community Meeting - October 23, 2018
Description
Special Guests
- The Marianos recap the BSLCOL2018 Hackathon in Bogota
- Lenka gives us an overview of the events we have lined up for Prague this week and next
- We get a presentation by the VR3 Team of their hackathon winner: Dai Feeless Transactions
- Rich Brown talks about a new initiative at MakerDAO called the Core Community Development Group
---
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Email: info@makerdao.com
A
B
A
Okay,
cool
well
I'm
gonna
lead
up
to
it
a
bit
so
there's
a
possibility
that
I
would
just
begin
talking
and
talking
and
talking,
and
nobody
able
stop
me
so
before
I.
Do
that
I
want
to
talk
about
some
other
technical
milestones
that
make
it
as
hits
in
the
last
week,
and
so
they
were
quite
interesting.
One
of
the
things
that
I'm
excited
about
this
crap,
one
of
the
things
I'm
exciting
about
excited
about
is
maker
Dow
has
joined.
A
We'll
be
doing
the
same
thing
again
in
Prague
with
we'll
be
publishing
a
schedule
of
the
interesting
breakout
sessions
and
talks
that
will
be
involved
in
I.
Know
that
there's
three
separate
tracks
right
now
and
some
of
the
topics
are
quite
interesting.
Just
be
how
you
don't
suppose
you
have
that
handy
right
now.
I
do.
B
Yeah
I
do
have
the
agenda
Andy
and
make
it
out
to
be
presenting
on
the
challenges
of
asset-backed
stable
plans,
as
well
as
giving
a
close
sort
of
fire
side
panel
as
to
decentralise
finance
in
emerging
markets,
so
we're
never
very
Mariano
DP
within
the
define
emerging
markets
as
well
as
room
and
runa
Nick
and
chances
of
us
at
our
table
wines
we
might
be
doing
more
as
well.
Maybe
an
ad
hoc
talk
on
keepers
and
sentence
somewhere,
so
a
lot
to
look
forward
to
it.
A
There's
a
lot
of
interesting
things
happening
there.
A
lot
of
heavy
OS
will
be
in
attendance.
There's
three
different
tracks:
there's
some
talks
there
that
I
absolutely
do
not
want
to
miss
check
out
our
Twitter
feed
and
well,
we've
already
posted,
but
would
be
posting
again
signup
information
for
the
d5
event.
A
You
pay
basically
a
set
fee
of
hundreds
or
a
tenth
of
a
cent
or
maybe
Assante
I'm,
not
exactly
sure
what
it
is,
but
it
stays
extremely
well.
So
this
opens
up
the
door
for
us
doing
some
really
interesting
things
like
as
it's
just
and
Mariana
or
little
we're
of
that
onboarding
emerging
markets
is
very
difficult,
especially
if
you
need
to
explain
that
this
$10
remittance
that
is
coming
in
could
possibly
cost
a
dollar
or
maybe
it'll
cost
us
two
cents
or
maybe
it'll
cost
three
bucks.
A
Who
knows
that's
a
pretty
tough
sell
for
emerging
markets.
So
if
we
can,
you
start
using
a
dedicated
sidechain
with
predictable
and
microscopic
ease
that
really
opens
up
the
door
to
emerging
markets
and
that's
something
that
we're
enormously
interested
in
and
make
er
done.
So
that's
a
huge
thing
for
everybody.
Thank
you,
I!
Don't
let
groundbreaking
but
also
kind
of
cool
is
we
now
have
a
SoundCloud
version
of
the
community
I'm
sorry,
the
governance
calls
that
happened
on
Thursday.
A
A
A
Yeah
money
is
actually
far
more
interesting
than
computers.
I
had
no
idea
until
just
recently
and
I
think
that's
it
for
the
interesting
technical
milestones.
The
one
of
the
major
things
that
I
wanted
to
talk
about.
The
major
thing
I
wanted
to
talk
about
in
this
meeting
and
the
thing
that
I
teased
in
reddit
is
that
there's
a
new
major
initiative
at
maker
Dow
right
now
and
the
that
initiative
is
pleasingly
called
the
CCD
G,
which
stands
for
the
core
community
development
group
and
what
the
core
Community
Development
Group
is.
A
Is
it's
a
it's
a
set
of
programs
that
are
designed
to
create
incentives
and
direct
support
structures
for
people
that
are
in
our
community,
so
I
our
most
standout
members
who
are
community?
We
have
our
community
by
sort
of
by
its
very
definition,
is
and
unusually
intelligent
and
motivated
and
highly
crypto
savvy
group
of
people,
and
it
represents
a
fantastic
pool
of
talent.
A
It's
a
huge
resource
for
a
maker
down,
it's
one
of
our
our
major
resources
and
we
haven't
always
done
a
great
greatest
job,
leveraging
that
that
sounds
cool
and
supporting
it
and
growing
it.
The
way
that
we
should
and
I
think
that
we're
at
a
stage
in
Mikado's
development,
where
we
meet
to
kind
of
formalize
some
of
those
things,
and
so
what
that
means
is.
We
are
launching
a
series
of
initiatives
that
are
designed
like
I.
C
A
Earlier
to
directly
incentivize
our
most
highly
motivated
members,
through
primarily
through
a
series
of
grant-giving
exercises,
the
first
iteration
of
that
process
doesn't
have
a
name
yet
I'm
kind
of
been
calling
it
the
bootstrapper
internally
and
I'm,
not
sure
whether
that's
going
to
catch
on.
But
that
kind
of
tells
you
what
it's
all
about:
we're
very
interested
in
continuing
the
relationship
with
with
the
developers
and
the
writers
and
risk
Assessors
of
the
professionals
that
we
meet
in
the
community
and
what
we've
done
previously
is
generally
been
restricted
to
hackathons
and
hackathons
are
great
to
get.
A
You
know,
code
into
a
repo,
it's
they're
very
bad,
at
getting
code
committed
a
second
time
for
that
same
repo
and
what
we
want
to
do
is
sort
of
develop
these
longer
term
relationships
and
the
first
iteration
of
this
bootstrapping
process
will
be
based
around
small
to
mid-size
grants
that
we
will
be
allocating
to
its
teams
that
have
built
on
the
ecosystem
and
or
want
to
build
an
ecosystem,
and
those
grants
will
be
dispersed
through
a
milestone
based
approach.
So
we'll
sit
down
with
these
teams,
discuss
what
their
plans
are
for
the
future.
A
There's
there's
a
lot
of
opportunities
for
maker
Dow
to
really
support
people
once
they
actually
hit,
meaning
that
and
continue
that
conversation
on,
perhaps
for
the
rounds
of
funding
once
things
sort
of
take
on
some
I
am
very
excited
about
the
possibilities
here
and
I.
Think
that
we
are
we're
gonna,
be
in
a
position
to
use
this.
A
The
sort
of
block
of
funds
that
we
have
set
aside
to
really
incentivize
the
ecosystem
and
to
create
a
significant
amount
of
use
cases
for
dive,
because,
ultimately,
the
maker
down
foundation-
everybody
here
is
here
in
order
to
convince
people.
That
is
something
that
they
should
be
transacting
with,
and
everything
else
with
a
false
demo
leads
up
to
that
and
leads
back
from
that.
A
So
the
more
use
cases
we
create
the
better
it
is
for
everybody
and
I
think
this
is
gonna,
be
a
really
amazing
way
to
sort
of
get
that
happening
in
emerging
markets
and
and
all
over
the
world
in
general.
So
that
is
primary,
lead
on
why
this
new
program
is
so
cool.
Does
anybody
have
any
questions
about
how
about
granting
process
will
work
or
the
implications
of
it?
Because
I
have
a
dock?
That's
five
pages,
long
full
with
details,
so
somebody.
B
A
A
A
We're
primarily
focused
on
projects
that
are
advancing
and
the
initiatives
that
I
think
that
most
license,
that
the
initiatives
that
the
maker
Dow
is
interested
in,
so
we're
interested
in
disintermediation.
We're
interested
in
emerging
economies
were
interested
in
projects.
Obviously
that
are
based
around
transacting,
a
stable
coin.
When
we're
interested
in,
though
I
think
that
kind
of
wraps
it
up
I
think
unless
Greg,
you
were
thinking
of
something
that
I'm
completely
blocking
on,
but
we're
looking
for
projects
a
sort
of
a
line
with
maker,
core
principles
and
obviously,
projects
that
are
specific.
A
D
B
A
Are
the
challenges
that
we
have
with
the
Mehcad?
Our
ecosystem
is
that
it's
complex,
it's
sophisticated,
I
shouldn't,
say
complex,
because
I
try
to
tell
people
that
it's
not
complex
once
you
finally
understand
it
and
everything
becomes
clear,
but
that
road
towards
understanding
it
can
be
quite
challenging
and
we
don't
do
a
great
job
of
providing
people
a
clear
path
to
understanding
how
the
system
works.
A
B
A
First
iteration
of
this
deck
is
what
our
CDP's,
how
do
I
can
make
a
CVP?
What
do
I
do
with
the
CDP
and
what
are
the
risks
associated
with
the
CDP,
so
very
basic
stuff,
the
same
with
the
I?
Where
do
I
find
I?
How
do
I
store
dying?
How
do
I
trade
die?
What
do
I
do
with
die
and
then
we're
once
we
have
this
sort
of
base
layer
of
course
finished.
A
The
next
step
will
be
the
more
events
like
the
201
level,
where
we
get
into
what's
my
risk
profile
or
how
do
I
find
arbitrage
opportunities,
things
like
that
will
be
the
next
step.
We
really
need
to
get
a
an
introductory
course
where
we
can
just
refer
people
to
this
constantly
updated
and
consistent
set
of
articles
that
explain
exactly
what's
going
on,
which
is
going
to
be
one
of
our.
It's
give
me
one
of
our
major
initiatives
getting
started.
A
A
Another
major
component
of
this
initiative
is
going
to
be
built
around
promoting
good
governance
and
that's.
It
hasn't
been
a
huge
issue
for
maker
cows
so
far,
but
it
will
be
soon
once
the
once.
The
proposals
are
filtering
in
once
we
begin
having
sort
of
an
official
debate
process
and
once
more
votes
start
happening
on
a
regular
basis.
A
There
will
be
an
opportunity
for
us
to
deal
with
some
of
the
challenges
that
go
along
with
that
by
figuring
out
the
best
way
to
go,
communicates
new
initiatives,
the
best
way
to
communicate
upcoming
votes,
the
best
way
to
form
the
conversations
around
these
different
proposals.
The
group
will
be
in
charge
of
doing
that
and,
and
one
of
the
other
I
guess
the
the
next
I'm
not
going
to
monopolize
the
entire
meeting,
but
so
I'm
going
to
keep
this
sort
of
high-level.
But
one
of
the
things
that
I
find
most
compelling
about.
A
This
is
the
the
concept
of
community
advocacy
and
I.
You
know
other
organizations
I've
been
with
this
has
been
an
increasingly
important
aspect
of
community
management
and
what
community
community
advocacy
means
to
me
is
it's
an
opportunity
for
us
to
create
of
a
clear
path
where
our
community
members
can
you
negate
in
a
semi-official
manner,
with
the
innovation
itself?
A
So
we've
had
these
situations
in
the
past,
where
our
community
members
have
come
up
with
some
very
compelling
reasons
why
they
think
that
we
should
add
this
feature
or
re-examine
this
part
of
our
incentive
structure
or
or
do
something
maybe
even
completely
different
and
the
only
mechanisms
the
community
has
to
speak
with
us
right
now
are
in
chat
or
in
these.
These
calls
or
in
reddit,
and
the
problem
with
those
three
mechanisms
is
that
they're
very
temporal.
So
no
people
can
have
their
say.
A
And
what
we'll
do
is
once
the
proposal
is
finished.
Bring
that
document
or
the
community
members
that
came
up
with
a
document
and
invite
them
to
a
meeting
to
discuss
or
present
those
issues
back
to
the
relevant
stakeholders
and
so
I'd
make
her
down.
So
we
can
see
whether
there's
some
traction
there
and
formally
sort
of
evaluate
the
feasibility
of
those
ideas
which
I
think
sounds
a
bit
dry,
but
I
think
that
that's
one
of
the
most
interesting
things
that
this
group
will
be
up
to
is
this
yeah.
A
All
right,
I
think
that
that's
probably
as
much
rambling
as
I'm
going
to
do,
because
that's
a
lot
to
ingest
and
so
there's
some
very
cool
things
here.
I
think
that
this
this
granting
process
has
the
opportunity
to
really
accelerate
the
size
and
scope
of
our
third-party
ecosystem.
The
community
advocacy
process,
I
believe,
will
go
great,
go
a
long
way
to
sort
of
formalizing
and
empowering
some
of
our
most
dedicated
community
members
to
actually
go
out
and
do
things
that
are
cool
and
sort
of
earn,
a
living
wage
doing
that
and
the
generation
of
content.
A
So
we
can
help
onboard
our
users
a
bit
better
than
we
have
is
also
super
interesting
to
me.
So
I
think
that's
that's
where
I'm
going
to
wrap
it
up.
If
anybody
has
any
questions,
let
me
know
if
you
have
any
questions
that
come
up
through
the
course
of
the
rest
of
the
meeting,
feel
free
to
type
them
in
and
I
will
do
my
best
to
answer.
A
B
C
A
C
C
So
the
entire
product
blockchain
week
is
really
packed
with
exciting
things
that
are
happening.
I
think
we
will
start
off
with
status
hackathon
that
will
start
on
the
26th.
It
will
go
throughout
the
it
will
happen
throughout
the
weekend
until
the
28th
and
its
status
hackathon
will
be
having
a
stand,
but,
most
importantly,
we
will
have
some
amazing
workshops
and
and
hex
challenges
assigned
and
yeah
I'll
just
go
very
high
level
and
the
end
of
the
status
hackathon
will
be
organizing
a
special
edition
by
the
hour.
C
C
We
are
new
members
and
we
are
excited
yes,
you'll
get
one
day.
We
are
very
excited
about
yep,
being
part
of
that
again
we
have
some
nice
representation
there
on
the
13th.
Def
Con
already
starts
until
the
2nd,
we'll
have
our
CTO
Andy
speaking
and
we'll
have
a
formal
verification
team
giving
a
workshop.
We'll
have
our
stand
there,
of
course,
and
during
DEFCON
there
are
a
couple.
C
Other
events:
there
is
blockchain
for
good
workshop
on
the
31st,
where
we'll
have
our
CEO
hoon
speaking
and
and
couple
more
I,
think
and
then
there
are
some
amazing
parties
in
the
evenings
and
there's
just
a
bunch
of
other
events
that
I
most
likely
forgot.
But
it's
going
to
be
exciting.
Oh
and
we
have
a
special
Def
Con
edition
t-shirt
so
make
sure
to
stop
by
and
get
yours
no
spoilers.
A
D
A
D
Iii
I
can
speak
a
bit
of
the
blockchain
I
mean
even
okay.
Those
are
really
cool.
Even
okay
was
the
second
edition.
The
first
one
was
in
in
Santiago
de
Chile,
and
it
was
a
very
small
one.
The
first
and
doing
this
this
edition
at
portico
Lamia.
It
was
much
much
bigger.
There
were
a
lot
of
exciting
projects
and
it
was
just
not
only
etherium.
We
have
people
from
them,
neo
blockchain,
RSK,
Microsoft
IBM.
D
D
This
sum
is
like
a
Twitter
handling
that
people
send
Bitcoin
cash
to
an
address
that
they
had
and
in
the
profile
and
they
buy
food
and
they
and
then
share
the
pictures
of
the
kids
eating
the
food
with
that,
a
with
the
amount
of
money
that
it
was
indeed
to
that
Bitcoin
cash
address.
So
this
was
really
really
really
cool
because,
despite
the
Decrypter
that
you
are
using
right
bit
going
die
if
tedium
I
don't
know
whatever
it
was
really
cool.
When
you
see
that
it
is
helping
people
right,
I,
don't
care
the
name.
D
Yeah
I
do
care,
helping
people
and
that's
the
awesome
thing
and
what
else
well
and
she
said
we
had
that
hackathon
and
it
was
really
good
to
see
what
of
talented
developers
and
it
was
really
really
really
nice
to
see
a
well-known
face
for
us
there.
We
are
three
team
that
they
were
the
the
winners
of
the
UNICEF
hackathon
that
took
place
Mexico
with
the
Linda
project
and
they
were
competing
there
or
the
maker
thought
challenge,
and
that
is
why
that
we
have
even
got
a
show
here
with
us.
So
he
can
explain
a
bit.
E
E
E
E
E
E
A
E
E
B
E
E
E
Also,
if
you
try
to
get
more
gas,
when
you
have
a
pending
friends
like
pending
requests,
it
won't
be
approved
also,
they
only
be
appropriate.
You
have
the
positive
balance
and
you
are
have
a
good
record
of
using
this
gas.
If
you
have
this,
the
subsidiary
account
this
one
will
send
you
back
the
big
ass,
so
you
can
now
send
to
the
receiver.
So.
E
Sure
first
folder,
like
the
first
year
of
valuation,
is
if
you
you
have
that,
and
you
like
you,
have
spending
correctly
like
attacking
the
subsea
account,
won't
be
cost-effective
because
they
need
to
move
diets
between
different
wallets
they
that
that
will
cause
more
than
then
gas
spent
by
the
subsidiary
wallet
and
yeah.
That's
yes,
very
simple
verification
process
like
we
had,
we
can
add
more
like
tracking
paths,
records,
I
know,
but
a
see
verification
is
that
that's.
B
B
No
I
am
I
like
this
approach,
there's
a
lot
of
stuff
that
has
to
be
done
inside
the
web,
app,
probably
to
prevent
spamming,
because
otherwise,
if
you
want
to
do
this
all
via
smart
contracts
and
actually
delegate
another
smart
contract
to
move
your
tokens
for
you,
then
you
at
least
need
to
do.
One
transaction
in
the
blockchain
for
approving
your
euro
die
balance
on
another
contract.
So
in
this
case
it
does
it's
like
an
unconventional
approach,
but
it
does
work
without
any
gas
and
any
transactions
on
the
actual
sender.
B
A
E
B
A
Yeah,
that's
an
interesting
option
here.
You'd
have
to
if
whoever's
running,
eh
the
virtual
wallet
had
a
bankroll.
They
could
potentially
overtime
to
see
as
the
DSR
to
cover
transactions.
Potentially,
who
knows
what's
serving
in
this
model,
what's
the
incentive
for
the
virtual
wallet
owner
to
do
what
the
yeah
yeah.
E
A
E
D
E
A
Thanks
for
that,
I
rank
Mariana
I
want
to
ask
you
a
program
what
both
Mariana
I
think.
As
you
mentioned,
the
UNICEF
hackathon
and
one
of
the
interesting
things
we
saw
at
the
UNICEF
hackathon
was
there.
Is
this
extreme
level
of
interest
in
identity
related
solutions
on
the
blockchain
as
a
host
of
currency
related
solutions?
Did
you
guys
what
were
the
general
themes
you
saw
at
the
we
hackathon?
Was
it
about
transactions
or
whether
anything
any
other
sort
of
initiatives
that
were
people
have
found
compelling
there.
B
Yeah
yeah,
so
yeah
I
think
I
was
the
one
that
participated
in
both
so
essentially
in
in
this
one.
It
was
much
more
business
oriented
the
other
one
because
it
was
UNICEF
and
the
topic
was
was
refugees.
Almost
everybody
chose
identity
because
was
more
of
a
pressing
issue,
and
and
also
we
had
the
problem
of
tackle
blotch
hang
on
to
everything
syndrome,
maybe
that,
while
the
efforts
are
laudable
in
the
end,
we
don't
know
if
it's
gonna
make
much
sense
right,
because
we
had
a
couple
of
things
that
were
oh
yeah.
B
This
is
a
wallet
for
Refugees
right
and
we
don't
even
know
the
conditions
that
that
they're
in
and
asking
people
to
to
have
like
a
phone.
That's
why
that's
why
the
Linda
project
was
interesting
cuz.
He
tackled
like
using
SMS
messages
and
in
simple
phone
calls,
instead
of
having
like
a
smart
phone,
but
in
this
case
in
Colombia,
everything
was
a
little
bit
more
business
oriented,
but
still
within
the
the
means
and
the
constraints
of
like
Latin
American
economy,
which
it's
a
lot
more
messy
than
than
what
you
see
in
other
places.
It.
A
I
think
that
there's
there's
going
to
be
we're
gonna,
be
learning
a
lot
of
things,
I
think
from
these
more
regional
hackathons
than
we
would
in
the
you
know
this
Southern
California
hackathons,
because
I
think
that
there's
a
spline
spot
that
crypto
has
right
now,
where
we
think
that
you
know
building
a
complex
solution
for
a
thousand
dollar
feature
phone.
Is
the
future
of
crypto
and
I'm
more
and
more
becoming
convinced
that
that's
absolutely
not
the
future
of
crypto.
B
A
A
We're
like
I'm
a
3G
or
wireless
technology
is
a
good
example
where
the
things
we
considered
less
develop.
Economies
have
completely
leapfrog
the
the
first
world
economies
by
adoption
of
3G
and
cell
phone
usage
and
digital
or
phone
based
current
economies,
where
we're
sort
of
the
paradigms.
I
think
that
we
use
sometimes
are
overly
complicated,
where
we
can
probably
learn
a
few
things
about
optimisation
of
UX.
So
that's
really
interesting
to
me
to
see
what
people
are
building
at
these
other
conferences,
it's
cool,
yeah,.
D
A
D
Know
it
was
a
team
that
they
told
us
that
they
were
doing
on
their
free
time
this
thing
and
they
needed
that
stable
going
to
price
day,
the
the
coffee
bean
crops
and
and
whereas
Mariano
said
17
hours
is
not
long
enough
to
develop
something
like
that,
but
they
were
working
towards
this
implementation
of
dye
in
their
platforms
was
really
cool.
I
I
was
talking
with
them
yesterday.
They
told
me
that
they
are
in
in
a
hurry
right
now,
because
they
have
like
other
works
and
our
jobs
as
soon
they
are
able.
D
A
Okay,
we're
coming
up
on
10
minutes
left.
If
anybody
has
any
random
questions
they
want
to
throw
to
the
community
or
to
us.
Please
do
so
now
over
give
it
some
thought
and
type
it
into
the
window
or
just
jump
into
the
conversation.
Mariana
Conte
did
you
have
anything
else?
You
want
to
talk
about
other
standard
events
or
thoughts
from
the
okay.
E
B
A
A
That's
a
tough
question
because
I
don't
know
what
we
is
in
this
organization,
so
everybody
has
their
own
opinion
right.
So,
if
you're
talking
about
me,
no
I
think
that
if
there
iam
is
just
the
thing
that
works
right
now
and
if
something
better
comes
along,
then
we
should
jump
but
I,
don't
I,
don't
think.
That's
it.
A
D
A
It's
weird:
it's
a
weird
conversation
because
it
predicting
the
future
is
almost
impossible
or
predicting.
The
future
of
technology
is
even
harder
than
impossible
and
then
predicting
the
future.
Crypto
technology
is
just
an
absurd
proposition,
so
I
think
that
in
the
short
term,
there's
a
lot
of
really
interesting
things
happening
with
side
chains
and
bridges,
loom,
wanna
chain
colors,
Mo's
polkadot.
A
The
list
goes
on
and
on
I
think
there
were
a
lot
of
the
organized
the
square.
The
space
can
shake
out
in
a
lot
of
different
ways:
either
there's
just
one
clear
winner
and
we
all
just
join
or
not
at
our
peril,
or
we
have
this
abstraction
of
various
technologies
hidden
from
the
end
users,
and
we
just
migrate
from
one
to
the
other,
and
it
doesn't
really
matter
who
wins
is
just
whoever's
most
useful.
D
D
A
A
D
A
A
Minutes
left
in
Jordan,
as
always,
has
an
interesting
and
semi
tough
question,
which
we
should
probably
dress
it
and
I
like
this
question
and
actually
because
I
just
said
a
few
minutes
ago,
that
there
kind
of
is
no,
we
at
makers
so
I'm,
not
the
voice
of
what
everybody
thinks.
Maker
I
only
have
my
own
opinions
and
if
anybody
else
has
opinions
they're
more
than
happy
to
jump
in,
but
with
a
tether
or
foolishness.
That's
that's
happened
yet
again,
like
on
the
six
months
schedule
or
whatever
they're
working
on
for
destroying
the
industry.
A
There's
been
a
lot
of
interest
in
stable
coins
and
naturally
stable
coins
that
have
some
kind
of
audit
trail
associated
with
them,
and
there's
been
a
lot
of
media
in
the
last
couple
weeks
that
strangely
have
taken
the
position
that
there's
only
one
type
of
stable
coin
and
that's
the
IOU
token
reserve
backed
model
because
of
this
explosion
of
I.
Think
a
lot
of
organizations
have
realized
that
it's
not
in
all
that
hard
to
just
open
up
a
bank
account
and
start
issuing
certificates
for
dollars
and
and
I.
A
Think
the
question
in
the
chat
was:
are
we
concerned
there's
quickly?
That's
the
question
and
I:
don't
know
whether
makers
concerned
and
I
don't
think
that
I
am
concerned,
though,
because
I
think
that
there's
a
larger
perspective
to
be
taken
here,
one
is
that
the
wider
crypto
journalistic
scene
has
a
depressingly
low
understanding
of
how
crypto
works
generally
this,
especially
in
the
stable
coin
space,
and
a
lot
of
the
conversations
that
we've
seen
recently
have
been
like
I,
said
discussing.
A
Usd
tokens
and
USD
tokens
from
my
perspective
represents
a
very
niche
market
in
the
stable
coin
world.
They
represents
largely
up
until
this
point,
whatever
make
up
a
number.
Ninety
percent
of
all
USD,
stable
corn
activity,
in
my
opinion,
is
just
changing.
Pointers
in
a
relational
database
in
a
centralized
exchange
somewhere.
This
stuff
doesn't
hit,
doesn't
hit
consumer
as
it
doesn't
hits
the
a
chain
generally
and
the
number
of
people
that
are
actually
redeeming
this
stuff
for
money
is
vanishingly
small.
A
So
if
there's
there
was
basically
tether
and
then
there's
the
the
new
sort
of
exchange
based
tokens,
USD
tokens
that
are
coming
up,
but
even
with
the
the
new
crop
that's
arising.
If
you
look
at
the
number
of
holders,
the
number
of
trades
and
the
volume
that's
outstanding,
there's
only
one
I
think:
that's
that's
doing
more
activity
than
die,
so
so
sorry
I'm
getting
a
bit
off-track
here,
but
as
far
as
I'm
concerned,
we
have
to
stay
on
top
of
what
the
markets
up
see.
We
have
to
look
at
this
trend.
A
We
have
to
start
asking
and
we
have
been
asking
questions
of
these
journalists
like
hey.
You
have
a
stable
coin:
article
and
you've
treated
stable
coins
as
tax
USD,
TSD
and
tethering,
and
that's
that's
not
what
a
stable
coin
is,
and
we
also
have
to
remember
that's
the
total
addressable
market
for
these
things,
I
think
are
extremely
small.
A
A
So
Jordan
and
Chris
I
don't
know
if
I've
addressed
any
concerns
adequately.
So
we
know
what
we
see
what's
happening
and
we're
aware
of
it.
But
I
I
don't
know
if
you
could
say
that
we
are
concerned
and
I'm,
not
convinced
that
we
should
be.
You
know,
capital
C
concerned,
but
we're
obviously
taking
everything
is
okay,
I
tend.
D
To
sing
to
of
this
table
coin
environment,
much
like
an
automotive
industry
in
which
we
have
a
lot
of
different
types
of
cars,
she
had
bands,
you
have
cars,
you
have
bytes,
you
have
trucks,
you
have
big
gaps.
You
have
a
lot
of
different
things
that
fulfill
different
purposes
right
ix
into
things
like
that.
Yeah.
A
And
that's
the
there's,
this
sort
of
nicely
ties
back
into
your
maximalism
thing,
because
there's
a
tendency
in
this
space
or
human
nature
in
general
to
determine
to
gauge
things
against
whether
they're,
the
winner
or
not
and
I,
think
the
key
thing
to
assume
that
there's
going
to
be
a
winner,
stable
coin.
I.
Think
that
that.