►
From YouTube: NEARCON 2022 | Nightshade Stage - Day 3
Description
Check out all the talks of #NEARCON Nightshade Stage Day 3 with the timestamps below 🔽
00:00 - Beginning, Laurence Lewandowska
00:50 - Oracles on NEAR and the Need for On-Chain Data | Lindsey Crawford - Proximity Labs, Mitch Gildenberg - Switchboard, Jasper de Gooijer - Flux Protocol,Mike Cahill - Pyth Data Association, Thodoris Karakostas - Chainlink Labs | MC: Laurence Lewandowska
25:11 - OnMachina on the Data Storage Quandary | Polina Aladina & Mark Collier - OnMachina
40:17 - The Economics of ZK Proofs | Anish Mohammed - Panther
01:07:24 - Acumen Promo Video w/ Paul Steiner - President of El Salvador Small Business Administration (CONAMYPE)
01:12:49 - ₿eyond Laser Eyes: El Salvador Is More Than Just BTC | Mónica Taher - Invest SV, Government of El Salvador, Georgia Hanias - NEAR Foundation
01:36:41 - Not Your Parent's Facebook: Rebuilding Social Media in Web3 | Fernando Martinho - Relayz.io, Christos Panagiotakopoulos - Capsule Social, Cox Zhang - Connect3, Dani Osorio - MetaWeb Ventures
02:06:57 - 10 Thoughts on Community | Lou Kerner - Crypto Mondays | MC: Marcus Ribeiro
02:21:48 - Filling the Datalake: New Frontiers in Decentralized Storage | Fabian Riewe - KYVE Network
02:36:25 - How to Be a Pagoda Power User | Maksym Zavershynskyi - Pagoda | MC: Marcus Ribeiro
02:56:32 - Hackathon Dragon's Den | Illia Polosukhin - NEAR Protocol , Alex Shevchenko - Aurora Labs, Marieke Flament - NEAR Foundation
Join NEAR's community:
Website: https://near.org/
Reddit: https://www.reddit.com/r/nearprotocol/
Discord: https://near.chat/
Medium: https://medium.com/nearprotocol
Blog: https://near.org/blog/
Twitter: https://twitter.com/NEARProtocol
GitHub: https://github.com/near https://github.com/nearprotocol
Dev Docs: https://docs.near.org/
Create a wallet: https://wallet.near.org/create
Apps on NEAR: https://awesomenear.com/
Learn to Build On NEAR: https://www.near.university/
Grants & Funding: https://near.org/grants/
#Blockchain #FutureisNEAR #NEAR #nearprotocol
#nft #dao
A
A
Ladies
and
gentlemen,
this
morning
we're
talking
about
oracles
oracle's
on
near
and
the
need
for
on-chain
data
and
speaking
to
us
today
is
Lindsay
Crawford
from
proximity
labs
and
she
will
be
moderating
a
panel
with
Jasper
de
guzier
from
flux,
protocol,
Mike
Kyle
from
fifth
data
Association
and
Mitch
gildenberg
from
switchboard.
Welcome.
B
C
Sure
so
I
had
a
traditional
Finance
career
for
about
15
years.
I
worked
at
Morgan
Stanley
and
a
couple
of
other
trading
firms
in
FX
and
then
I
moved
over
to
jump
crypto
where
I
started
working
on
Partnerships
and
that
got
me
into
joining
the
the
board
of
the
Pitt
data
Association,
where
I
helped
the
The
Entity
Drive,
the
development
and
the
advancement
of
the
pith
Network.
D
D
We
were
unable
to
like
build
sustainable
products
kept
having
to
like
plug
holes
over
being
able
to
innovate,
and
that's
what
attracted
me
to
crypto
in
the
first
place
like
taking
a
technical
Deep
dive
into
the
immutability
of
smart
contracts
and
the
fact
that,
once
an
interface
is
there,
you'll
be
able
to
interact
with
it
forever
started.
Building
products
in
crypto
worked
on
ethereum
scalability
for
a
while
and
yeah
build
a
bunch
of
products
on
both
Ethan.
There.
E
Yeah
start
over
yeah
yeah
I'm.
Actually,
a
computer
security
engineer
by
trade
I
was
at
Google
for
about
five
years.
I
was
a
tech
leader
on
app
engine
for
a
majority
of
that
time,
but
I
you
know
had
a
friend
that
was
very
deep
to
the
Solana
space.
Originally
we
built
an
oracle
protocol
there
and
we
actually
just
passed
1
billion
transactions
on
Solana
and
we're
doing
a
big
multi-jane
push
to
really
serve
more
the
D5
markets
cross
chain
awesome.
B
C
Good
question
so
bit
network
is,
has
been
around
for
about
a
year
and
a
half,
and
it
has
a
novel
way
to
bring
prices
on
chain
they're
streamed
directly
from
the
data
providers.
The
data
providers
consist
of
exchanges
and
trading
firms,
mostly
they're,
all
considered
first
parties,
so
they've
got
the
legal
rights
to
redistribute
them
or
to
distribute
them
and
they
push
the
data.
C
So
if
you've
got
withdrawals
that
are
or
withdrawals
or
deposits
which
are
locked
on
a
particular
exchange,
usually
will
see
that
kind
of
come
out
of
line.
So
this
gets
combined
in
the
in
a
pip
Network
and
we
end
up
getting
this
kind
of
Benchmark
price
and
then
during
volatility
you
say
all
right.
This
confidence
interval
actually
represents
the
span
with
which
you
can
reasonably
expect
any
price
to
print.
So
you
get
this
consolidation,
because
all
the
trading
firms
will
use
their
smart
order
routers
to
figure
out
all
right.
C
This
is
where
we
expect
the
price
to
be,
and
then
this
confidence
interval
which
spans
everything
and
it
works
out
really
well
and
what
you
can
use
as
a
protocol
is,
you
can
look
at
this
confidence
interval
and
you
can
say
all
right,
I'm
going
to
limit
the
decision-making
criteria.
I
want
to
take
given
the
high
volatility
on
a
particular
price.
So
it's
worked
really
well
with
the
debugging
of
UST.
D
There's
multiple
ways
to
do
it.
Right,
like
you,
can
take
a
page
out
of
the
proof
of
stake
book
and
build
a
proof
of
stake
system
with
staking
and
slashing
mechanisms
in
order
to
incentivize
correct
behaviors.
There
is
optimistic
oracles
that
have
these
dispute
resolution
mechanisms
built
in
in
order
to
have
more
more
game,
theoretic
security
mechanism
at
the
cost
of
higher
latency
for
data
requests.
D
We
have
sort
of
like
a
hybrid
model
for
the
next
version
of
flux,
where
we
have
a
proof
of
stake
system
and
a
backstop
of
centralized
relayers.
So
there
is
this
decentralized
consensus:
Network
that
queries
data
for
the
protocols
that
want
access
to
certain
endpoints
and
in
parallel
there
will
be
a
relayers
querying
the
same
data
request,
providing
the
same
computation,
onset
data
and
then
just
like
with
pith
there's
some
sort
of
like
trust
assumptions
that
can
be
held
from
that.
E
So
the
whole
model
that
switchboard
approaches
data
feeds
in
is
that
we
are
completely
permissionless.
You
know
we
think
that
permissionless
Finance
needs
permissionless
data,
so
we
actually
offer
a
whole
no
code
solution
for
people
to
spend
up
any
data
feed.
They
want
less
than
five
minutes,
and
we
originally
built
this
with
the
strong
Market
towards
prediction
markets.
E
We
thought:
bringing
any
data
on
chain
could
open
up
a
whole
new
set
of
use
cases
just
for
blockchain
in
general,
so
I
think
prediction
markets
still
have
a
lot
of
growth
that
we
haven't
seen
yet
and
I
think
for
that
long
till
data
that
maybe
doesn't
have
a
huge
demand
overall,
but
a
lot
of
people
could
make
these
really
new
data
feeds
that
are
only
for
their
own
use.
Cases
is
something
that's
they've
got
a
lot
of
exploration
left.
E
What
use
cases
are
enabling
well
I,
think
that
if
you
say
you
want
to
spread
on
a
sports
game,
you
know
any
sports
book
you
want
to
put
on
chain.
It
can
be
done
very
easily
without
having
to
do
these
long-lived
data
feeds
so
a
lot
more
ephemeral
data
things
that
are
event
based,
could
really
be
popularized.
With
this
type
of
model.
D
Yeah,
so,
within
our
Network
there's
different
types
of
validator
roles,
we
have
main
chain
validators,
that's
okay,
if
it's
a
large
group
of
validators
that
doesn't
really
hold
back
scalability,
but
for
the
data
requests
themselves,
a
random
subset
of
these
validators
is
selected
and
those
perform
the
actual
like
querying
of
the
data
request.
Otherwise,
you
could
get
into
a
situation
where
every
query
almost
launches
sort
of
like
a
denial
service
attack,
which
is
something
you
obviously
want
to
avoid.
D
D
B
B
D
I
mean
so
that
really
what
you
choose
as
a
base
layer
doesn't
really
matter.
The
only
thing
is
that
if
you
choose
an
expensive
base
layer
such
as
ethereum,
the
user
ends
up
paying
for
it
and
the
data
is
going
to
be
slower.
So
what
you
choose
in
sort
of
like
the
Hub
and
spokes
model
of
a
cross
chain
Oracle
as
your
Hub,
it's
very
important,
could
be
if,
but
for
us,
it's
going
to
be
near
so
we're
using
a
near
Shard
to
do.
D
C
It's
a
good
question
so
far,
we've
seen
like
web3
has
kind
of
gravitated
to
two
main
use
cases.
One
has
been
defy
and
one
has
sort
of
been
nfts
and
that's
still
very
early,
and
you
know
yet
to
be
figured
out
what
the
actual
use
case
is.
Most
of
the
consumption
for
oracles
has
been
on
web,
or
has
it
been
on
defy
and
largely
within
crypto
assets?
C
What
we
think
will
happen
is
D5
will
continue
to
grow,
it'll,
expand,
Beyond,
crypto
and
it'll
include
real
world
assets,
and
that's
you
know
where
the
real
value
of
oracles
comes
in,
because
a
lot
of
the
crypto
assets
you
can
get
some
data
on
chain,
although
it's
a
lot
easier
to
game
when
it's
on
chain
using
an
oracle
service
to
link
together.
Off-Chain
data
is
actually
much
more
robust,
but
we
expect
that
this
will
expand
and
other
asset
classes
we'll
have
we'll
start
to
have
some
utility
we're
pretty
optimistic.
C
C
D
I
think
that
a
decentralized
ecosystem
deserves
a
truly
permissionless
and
decentralized
data
source,
as
well
I
think
it's
sort
of.
If
we
look
at
it,
a
lot
of
people
think
that
the
Oracle
problem
seems
unsolvable
and
have
sort
of
given
up
on
it.
If
you
look
at
a
lot
of
the
projects
using
a
lot
of
the
oracles
that
are
out
there
today,
a
lot
of
them
sort
of
give
up
on
it
and
just
like
they
just
agree
that
this
is
just
the
way
it
is
over.
D
What
I
think
the
utility
of
oracles
is
going
to
be
so
we've
always
explained
what
we're
trying
to
build
here
as
the
HTTP
for
web3
a
cross-chain
data
standard
that
allows
you
to
query
any
data
from
any
smart
contract,
so
it
could
be,
should
be
able
to
be
anything
but
I'm.
Very
passionate,
like
I,
entered
the
space.
D
For
me,
it
was
sort
of
like
a
pain
point
that
it
got
hijacked
by
sports
betting,
immediately
like
as
soon
as
we
build
our
prediction,
Market,
which
is
something
I'm
not
as
passionate
about,
but
I'm
very
excited
about
the
the
sort
of
like
the
possibility
of
like
derivatives
of
anything.
Basically
right,
like
you,
see
a
lot
of
projects
trying
to
build
real
world
as
a
real
world
assets
on
chain
which
I,
don't
think,
is
the
way
to
go
for
crypto
at
all.
E
So
I
think
five
years
now
from
out
there'll
be
I,
don't
think
the
Oracle
problem
is
going
to
be
solved.
I
think
there
is
going
to
be
an
increased
amount
of
customizability,
which
is
you
know,
of
course,
where
the
direction
that
we're
taking
I
think
that
no
Oracle
provider
can
actually
predict
the
downstream
U
cases,
use
cases
or
volume
that
any
data
feed
really
needs
to
be
supported
by
so
actually
letting
the
user
configure.
E
B
E
I
think
you
have
to
have
it
just
about
justify
all
the
use
case
to
make
a
utility
token.
You
know
we
use
native
tokens
for
all
the
chains
that
we
are
supporting
currently,
and
it
actually
makes
gas
cost
calculation
a
pretty
clear
cut,
because
the
people
making
data
feeds
are
actually
the
one
funding
all
the
updates
supplied
by
the
Oracle.
E
C
That's
what
pith
will
will
be
using
each
one
of
the
data
providers
will
be
required
to
stake,
there's
a
native
token
for
for
pith
in
order
to
do
that,
and
then
there's
the
benefits
of
rewarding
for
good
behavior
and
penalizing
for
bad
behavior.
That
makes
the
entire
system
more
robust,
more
robust
over
the
long
term.
I
think
that's
the
right
model
for
oracles,
because
if
you
don't
have
this
reward
mechanism,
you
have
free
rider
problems.
C
You
also
have
a
whole
host
of
other
areas
where
you
could
be
attacked
and
so
over
time,
the
greater
that
that
stake
becomes
the
more
secure
that
that
data
is
and
there's
one
kind
of
unique
way
that
the
model
has
been
positioned.
If
there's
a
a
major
Oracle
malfunction
or
a
Black
Swan
event.
As
we've
written
about
in
the
white
paper,
you
can
actually
bid
out
the
amount
that
gets
slashed
to
Consumers,
so
basically
they
can
pay
this
premium
so
that,
in
the
event
of
this
Black
Swan
event,
they
can
receive
this.
D
Yeah
I
think
that
a
lot
of
a
lot
of
crypto
networks
and
that's
what
we're
talking
about
here,
we're
talking
about
Oracle
networks,
need
a
sandboxed
environment.
That's
reflexive,
based
on
the
performance
of
that
Network,
so
I
think
it's
very
important
to
have
a
sandboxed
economy
in
this,
in
the
shape
of
a
token
that
represents
how
well
the
Network's
doing,
and
also
that's
being
used
to
reward
good
actors
and
punish
back
deck
to
Bad
actors.
I
think
that's,
that's
a
great
Point
yeah
and
then
yeah.
It's
meant
for
security.
D
B
C
Yeah
yeah,
we
were
analyzing
the
problem
and
and
looked
at
some
of
the
existing
Solutions,
and
we
didn't
think
that
they
could
scale,
and
so
my
my
kind
of
take
on
it
is
that
the
model
of
taking
data
from
the
internet
as
like
a
third
party,
either
from
scraping
or
kind
of
signing
up
to
apis,
has
it
works
obviously
well
in
the
early
days.
But
it
has
some
limitations
and
we
think
that
those
limitations
will
cause
problems
as
more
and
more
millions
of
people
get
into
kind
of
the
the
crypto
world.
C
One
of
the
problems
is,
if
you're
not
getting
the
part.
The
data
first
party,
then
you're
limited
to
the
selection
of
information
that
is
available
to
that
third
party.
So
you
wouldn't
be
able
to
get
confidence
intervals,
for
instance,
and
you
might
actually
be
throttled
in
the
terms
number
of
updates
that
you
get
so
certain
intermediaries
like
to
throttle
to
only
have
say,
One
update
per
minute
or
or
every
say,
10
seconds.
So
that's
one
constraint
and
the
other
constraint
actually
comes
out
to
on
the
legal
side
of
things.
C
If
you
want
to
bring
highly
regulated
Market
data
feeds
on
chain,
you
have
to
be
very
mindful
about
the
intellectual
property
ownership,
so
pith
supports
U.S
equities
and
that's
a
market
that,
in
the
traditional
space
Market
data
for
U.S
equities
in
like
the
five
to
ten
billion
dollar
a
year,
Revenue
business,
and
so
if
you
just
go
take
that
data
and
bring
it
on
chain,
the
person
who's
making
that
money
is
not
going
to
be
thrilled.
So
when
we
were
thinking
about
it,
we
thought
well.
How
do
you
solve
for
this
kind
of
problem?
C
And
if
you
solve
for
this
really
well,
then
you'll
cover
all
these
other
asset
classes,
and
we
we
went
kind
of
down
this
Airbnb
approach,
which
is
create
a
place
where
anyone
who's
got
data.
That's
lying
around
can
contribute
to
a
benchmark
price,
and
so
that's
why
the
composition
of
data
providers
for
pith
is
not
just
exchanges,
but
it's
trading
firms.
It's
the
largest
trading
firms
in
the
world,
so
there's
jump,
Jane,
Street,
Susquehanna,
drw,
HRT
and
so
on.
D
At
that
time
we
took
a
deep
dive
and
we
found
that
there
was
a
lot
of
the
security
that
was
promised
was
pretty
much
obscured
and
not
very
public
that
there
wasn't
any
security
so
and
then
the
other
Alternatives
were
just
too
slow
for
us
to
use.
So
we
were
looking
at
a
better
solution
and
that's
when
we
started
diving
into
the
space
and
while
doing
that,
we
realized
that
actually
most
of
defy
today
is
not
decentralized,
because
the
data
source
is
most
of
the
time.
E
We
we
could
cut
it
still
yeah
no
kind
of
in
line
with
what
Jasper
was
saying.
I
wanted
to
build
this
as
a
sort
of
Need
for
things
that
I
was
interested
in
building
myself
before
I
actually
started.
This
switchboard
here
I
actually
made
another
program
that
scraped
Instagram
for
finding
most
popular
locations
in
certain
cities,
and
it
was
very
cool
because
my
cousin
was
actually
running
a
butter
business
at
the
time.
I
found
him
the
most
popular
bakeries
in
LA
and
I.
E
Think
having
available
data
enables
a
whole
new
set
of
applications
to
be
built
on
different
platforms.
So
we
saw
a
need
to
build
a
very
customizable,
Oracle,
origiano
and
near
with
overwhelming
requests.
So
we
want
to
build
support
those
builders
in
the
next
generation
of
applications,
because
they
need
the
data
to
really
build
all
these
new
Solutions
I
know
there's
a
big
social
push
for
near
right
now
and
I
think
that
there's
many
many
use
cases
that
we
could
help
with
there.
B
A
I
J
H
H
So
I
want
to
start
with
a
little
trivia
question
for
all
of
you.
Pop
Quiz
wake
everybody
up,
so
this
quote
was
once
upon
a
time
set
by
the
CEO
of
Amazon
at
the
time,
and
he
made
this
bold
claim
that
95
percent
of
all
technology
spending
was
still
on
premises,
not
even
in
the
cloud
yet
so
what
year?
Do
you
all
think
this
quote.
H
Well,
that
you're
not
eligible
okay,
so
this
quote
was
actually
from
this
year
and
Andy
jassy
CEO
of
Amazon
said
this
on
CNBC
the
giant
business
Network.
So
why
would
he
actually
say
this
well
I
think
in
in
particular
on
CNBC
I.
Think
the
message
that
he
was
sending
to
investors
was,
if
you
think,
Amazon
and
Amazon
web
services
is
big.
Now
it's
going
to
get
much
much
bigger
right,
we're
very
early
in
the
cloud
game.
H
It's
been
growing
everybody's
moving
to
the
cloud,
but
Amazon
web
services
can
get
20
times
bigger
if
they
just
maintain
their
market
share,
as
everything
moves
to
Cloud
over
the
next
several
years
right,
and
so,
if
we
look
at
the
actual
market
share
breakdown
in
Cloud,
even
at
five
percent
of
Technology
spending,
it's
still
180
billion
dollars.
So
it's
it's
a
lot
of
money.
H
It's
a
huge
market
and
as
it
grows
20
times
bigger,
it's
going
to
be
trillions
of
dollars
and
if
you
think
about
Cloud,
as
this
trend
the
last
few
years,
it's
really
the
biggest
Force
for
centralization
ever
and
the
history
of
of
humanity,
and
it's
it's
really
an
oligopoly
today.
So
you
have
two
or
three
players:
if
you
just
look
at
Amazon
and
Microsoft
together,
that's
more
than
half
the
market,
so
it's
almost
a
duopoly
right.
H
So
it's
it's
a
massive
Force
for
centralization
and
if
we
extrapolate
that
out
and
see
where
we're
going
in
a
few
years,
if
all
of
technology
that
we
rely
on
for
the
global
economy
is
in
the
hands
of
a
platform
owned
by
two
or
three
companies
personally
I,
don't
think
that's
a
very
optimistic
future.
That's
not
the
future!
That
I
think
is
going
to
be
the
best
for
all
of
us
and
it's
certainly
if
you
care
about
decentralization.
H
I
Like
the
problem
becomes
that
half
of
the
Bitcoin
lightning
Network
nodes
are
actually
hosted
on
Amazon
web
services,
even
more
than
that.
If
you
go
to
Amazon
website
trying
to
get
a
note
running,
you
will
see
that
it
actually
says
on
their
website
that
25
of
all
the
ethereum
workloads
are
also
run
on
Amazon
web
services
and
that's
kind
of
becoming
the
problem
that
big
companies
make.
I
It
super
easy
to
host
the
notes
on
their
websites
and
then
you
can
just
go,
make
it
work
rather
than
having
like
your
own
service
rack
and
have
your
node
and
special
dedicated
computer
to
run
it.
You
can
just
do
it
in
couple
steps
and
there's
great
companies
and
yeah.
Actually,
why
would
that
be
a
problem
such
a
nice
user
experience
right?
So
here
we
see
a
Twitter
founder
of
tornado
cache.
This
is
very
recent
actually
August
this
year.
I
So
if
you're
not
familiar
with
tornado
cash,
this
is
one
of
the
most
used
mixers
in
ethereum
network
they're
evm
compatible.
Maybe
there
are
another
chains
as
well,
but
if
you're
him
is
the
biggest
one
and
yeah
what
you
can
do
with
tornado
cash,
you
can
send
the
money
in
you
receive
a
receipt.
You
generate
absolutely
new
address
and
you
can
withdraw
your
money
in
small
chunks.
So
it's
actually
a
money
laundering,
but
it's
also
a
privacy
and
unlimited
tool.
So,
for
example,
vitalik
used
this
to
donate
money
to
Ukraine
in
an
anonymous
way.
I
So
no
one
can
actually
track
these
wallets,
so
yeah
and
they
just
started
at
2019.
There
was
his
first
run
on
the
ethereum
network
on
2020.
They
actually
launched
a
Dao
and
all
the
founders
have
no
longer
access
to
any
of
the
treasury
or
actually
the
protocol
itself,
like
the
Dow,
can
vote
on.
All
of
the
updates
can
vote
on
money,
withdrawals
and
so
on
in
case
of
emergencies
and
on
August
this
year.
I
Let
me
actually
quote
it:
the
office
of
foreign
assets,
control
of
the
U.S
department
of
the
treasury
blacklist
at
tornado
cash,
making
it
illegal
for
United,
States
citizens,
residents
and
companies
to
receive
or
send
money
through
the
service.
So
pretty
much.
Anyone
who
uses
the
addresses
of
tornado
cash
that
are
book
listed
are
automatically
a
suspect
for
money
laundering,
red
flags
anywhere
knocks
on
the
door,
and
things
like
that.
So
pretty
much
in
one
day,
the
U.S
government
made
this
project
disappear,
and
this
is
what
how
they
look
right
now.
I
So,
even
though
this
protocol
is
decentralized,
it
hosts
on
ethereum
network,
you
cannot
actually
like
block
the
ethereum
network
in
full
and
access
it.
They
have
a
Dao
that
governs
it
so
Founders
do
not
really
have
access
to
any
of
those
funds,
and
the
code
base
is
gone
right
now,
as
just
mentioned
in
Twitter
like
you,
guys
cannot
access
this
anymore
and
the
Dow
cannot
actually
do
something
with
protocol,
because
all
of
the
people
in
Dao
will
be
automatically
blacklisted
in
all
their
services
and
people
start
knocking
their
door.
I
So
yeah
like
you,
cannot
access
the
app,
even
if
you
can
have
a
website,
because
the
website
is
blocked
as
well.
So-
and
this
is
another
thing
that
happened
this
July
June
actually,
so
there
was
a
cloudflare
outage
for
about
half
a
day
and
yeah
talking
about
websites.
It's
just
the
same
as
we've
seen
with
tornado
cash.
If
you
have
a
decentralized
app,
but
you
don't
have
a
website
like
nobody
can
use
it.
I
What
kind
of
user
experience
we're
even
talking
here
and
yeah,
very
decentralized,
great
work
guys,
so
it's
kind
of
not
the
First
Leap
in
technology
there
is
internet
and
internet
was
supposed
to
be
like
everybody
hosting
their
own
website
on
their
own
servers.
So
you
can
visit
your
friend's
website
and
it's
by
by
default
was
used
to
be
decentralized,
but
nobody
ever
used
it
like
that
and
right
now,
we're
like
using
Facebook
and
Instagram,
and
things
like
that.
So
it
kind
of
repeats
the
story
out
there.
I
Actually
talking
about
front
ends
like
there
are
solutions
for
front-end
problem
that
are
decentralized
right
now,
but
none
of
those
are
actually
being
actively
used
by
developers
like
you
can
only
wonder
why,
like?
Why
do
you
think
it
is
because
there
is
a
lot
of
problems
of
actually
calculating
the
price
for
running
your
infrastructure
and
yeah
like
this
is
one
of
the
things
there
is
most
Google
when
I
like
to
Google?
How
much
would
it
cost?
This
is
what
I
get
like
about
80
percent
of
Google
response
out
there,
and
this
is
the
answer.
Why?
I
I
It's
not
even
a
year
like
it's
about
10
slip
right
there
you
can
go,
it
goes
10
almost
10
percent
down
and
then
back
up
again
so
yeah,
and
this
is
what
makes
developers
very
angry.
You
cannot
even
estimate
pricing.
You
can
estimate
it
for
a
week.
You
can
not
estimate
it
for
a
year.
How
can
you
do
a
startup
if
you
don't
know
how
much
your
infrastructure
costs-
and
this
is
a
major
ux
problem
that
web3
has
and
it's
not
actually
that
big
of
a
problem
in
web
2?
H
At
the
same
time,
there
are
a
number
of
companies
that
that
aren't
in
web
3,
more
traditional
Cloud
hosting
companies
that
if
you
go
back
a
few
years,
we're
actually
larger
than
Amazon,
and
so
there
there
are
a
lot
of
companies
out
there
trying
to
provide
more
Alternatives
so
that
we're
not
stuck
with
an
oligopoly
right.
But
the
trend
is
not
great,
and
if
you
look
at
these
companies,
they
have
been
able
to
leverage
a
lot
of
great
open
source.
So
most
of
them
run.
H
Linux
openstack,
kubernetes,
so
they've
they've
been
able
to
utilize
open
source
as
a
way
to
kind
of
put
together
a
competitive
offering
in
the
market
and
try
to
give
us
alternatives
to
the
the
two
or
three
companies
that
dominate
but
they're,
really
not
making.
The
right
Trend
here,
right
and
I
think
that
the
reason
that
they're,
not
that
they're
falling
short,
is
they're
not
able
to
fully
coordinate
their
efforts
and
provide
a
unified
experience
to
developers
right.
H
They
may
use
the
same
open
source
tools
with
similar
apis,
but
there's
slight
differences
in
the
way
they
Implement
them.
So
in
at
the
end
of
the
day,
they
don't
get
those
Network
effects,
even
if
they're
using
the
same
software-
and
this
is
really
a
failure
of
economic
coordination.
These
companies
are
trying
to
kind
of
put
together
a
Coalition
in
a
way
to
give
us
Alternatives,
but
the
trend
is
going
in
the
wrong
direction.
H
If
we
don't
build
Alternatives
right,
and
so
that
is
exactly
what
we're
doing
with
on
machina,
we
are
building
a
decentralized
storage
Network
for
Generations,
zettabyte
and
based
on
you
know
our
background
and
our
look
at
the
market
in
understanding
what
the
web
2
Technologies
do
well
and
don't
do
as
well,
and
the
web
3
approaches
have
done
well
and
not
done
as
well.
We're
trying
to
bring
those
both
together
and
I.
H
Think,
in
addition
to
some
of
the
issues
with
pricing
volatility
with
existing
web3
storage,
a
lot
of
them
don't
actually
meet
all
of
the
requirements
that
people
actually
have
for
storage
right,
and
this
is
another
reason
why
so
many
people
just
end
up
on
Amazon
S3
I
mean
if
you
look
at
many
projects
out
there,
even
if
they
utilize
some
web3
storage,
they
almost
always
have
a
backup
on
on
Amazon
S3,
because
that's
meets
the
fundamental
requirements
that
everyone
has
for
storage
right.
You
can
be
in
web
3.
H
Idealist
really
believe
in
decentralization
want
to
see
that
world
come
true,
but
at
the
end
of
the
day,
if
your
application
goes
offline
or
isn't
isn't
reliable,
you
don't
have
enough
capacity.
You
don't
have
the
performance.
Your
users
expect
then
you're
going
to
have
to
go
back
to
web
2
storage.
So
that's
the
approach
we're
taking
with
on
Machina
we're
building
really
good
storage
first
blockchain.
Second,
if
you
will
so
we're,
we
are
utilizing
near
as
our
blockchain
for
that
capability
to
give
you
true
ownership.
I
H
And
that's
Happy,
those
in
a
in
a
nutshell,
and
so
you
know
I
think
we
are
going
to
tackle
the
pricing
issue
by
pricing
it
in
stable
coins
and
giving
people
predictable
pricing.
If
your
price
goes
up
and
down
every
week
every
day,
it's
just
really
difficult
to
make
a
plan
around
that
and
rely
on
it
and
incorporate
it
into
your
business.
H
So
we're
we're
focusing
on
stable
coin
pricing,
which
we
think
will
be
the
right
approach
and
in
terms
of
all
the
different
use
cases
that
we
want
to
support
in
the
markets
for
different
application
developers
out
there
over
time,
we're
going
to
grow
to
support
a
lot
of
different
use
cases,
starting
with
backup,
And
archiving
also
digital
assets,
I
think,
are
a
really
natural
fit
for
a
web.
3,
Storage,
decentralized,
storage,
Network
like
this
and
then
over
time.
H
You
know
more
consumer
facing
apps,
like
online
storage
and
ultimately
cdns
I
think
will
be
very,
very
disruptive
use
case
for
decentralized
storage
Network,
and
that
is
exactly
what
we're
ready
to
build
and
if
you'd
like
to
get
involved.
Please
contact
us,
we're
100,
open
source,
we're
getting
started
now
and
if
you
would
like
to
connect
with
us,
we
got
our
contact
information
up
here.
This
QR
code
will
take
you
to
our
Twitter.
H
L
K
K
Oh
green
one:
oh
thank
you!
Apologies
good
morning.
Everyone
I
follow
these.
My
stupidity
is
clear:
I
can't
even
get
a
clicker
to
work,
I'm
going
to
talk
to
you
about
your
own
knowledge
and,
secondly,
I
was
under
the
impression,
as
I
have
25
minutes.
So
unfortunately,
I
only
have
15
I'll.
Try
cover
the
talk
as
best
as
I
could
so
the
idea
I
was
thinking
is
like
how
do
I
price?
K
K
How
do
I
think
about
it
from
a
D5
perspective,
so
I
have
a
protocol
which
is
providing
previously
for
D5
and
I'm
using
the
Ronaldo's
proofs,
so
how,
in
my
head,
am
I
making
this
calculation
right
can
I
make
privy,
can
I
give
privacy
while
providing
D5
in
an
economically
viable
form?
So
everybody
knows
D5
very
good
paper
to
read
if
you
are
interested,
but
in
summary,
what
I'm
interested
in
you
know:
transactions
where
it's
public,
but
I
want
to
have
certain
information,
private
classic
case
Market
making.
K
Okay,
somebody
wants
to
sell
somebody
something
somebody
wants
to
buy
something
there's
a
gap
between
the
two
you
have
somebody
in
between
who
does
Market
making
okay.
So
what
happens
here?
So
there
are
classic
bunch
of
automated
market
makers
that
are
there
in
the
market,
but
there
are
a
bunch
of
security
issues
as
well
right
if
you
have
a
strategy
and
if
you
want
to
deploy
it,
then
you
want
to
keep
your
Alpha.
K
That's
not
going
to
happen.
You
absolutely
are
going
to
be
ripped
the
moment
it
comes
out.
Somebody
will
deploy.
You
know
a
subgraph
on
the
graph
copy.
Your
trade
and
depth
of
the
market
disappears.
Okay.
So
how
can
you
prevent
this?
So
a
bunch
of
guys,
Alex
and
Guillermo
see
these
guys
actually
noticed
this,
and
they
said
you
know
it's
pretty
much
impossible
to
actually
have
privacy
in
constant
function,
Market
making.
K
So
the
suggest
to
three
things,
add
some
Randomness.
So,
essentially,
what
you're
trying
to
do
is
if
you
have
a
constant
function:
Market
making
you
in
you
know,
X
in
device
are
constant,
get
X
get
Y
and
that's
how
it
is
so
you
randomly
change
it.
So
people
can't
find
it.
Then
you
batch
a
bunch
of
those
transactions.
K
Okay,
so
this
is
batching
like
take
a
bunch
of
them
and
batching
actually
has
a
bunch
of
delay.
You
get
the
average
price,
not
the
specific
price,
so
you
get
an
amount
of
privacy,
and
what's
this
thing,
okay,
the
other
thing
that
was
proposed
was
try.
Differential
privacy
right
and
differentiate
privacy
was
put
forward
by
the
same
set
of
folks.
This
time,
Talent
was
the
primary
author
and
glerma
was
the
third
author.
K
Literally
what
differentiate
privacy
is
this,
so
you
make
some
tiny
changes
to
the
data
set,
so
the
overall
statistical
properties
of
the
data
doesn't
change,
but
you
can
preserve
privacy
right
and
now
I
need
to
switch
gears
to
kind
of
explain
the
cost
of
having
decentralization
in
general.
Everybody
knows
what
decentralization
is.
Oh,
my
decentralization
thing.
Okay,
so
the
way
I
describe
is
the
following.
Imagine
you
have
a
leader
election
protocol
providing
consensus.
K
So
if
you
have
a
lead
election
protocol
and
you're
doing
the
same
function
as
a
centralized
protocol,
you
cost
the
Delta
of
the
cost
is
a
leader
election
protocol.
So,
if
proof
of
work,
what
you're
trying
to
do?
Essentially
when
you
do
proof
of
work,
is
to
do
some
randomized
reader
electron
fairness,
I
showed
leader
election
protocol
with
a
security
margin.
Okay,
so
that
Delta
is
the
cost
right.
Okay,
so
there's
this
Constructor
previously
mining
that
you
know
you
have
to
have
there's
a
cost
for
actually
providing
privacy.
K
Like
imagine,
I
run
a
privacy
protocol
and
there's
just
one
person
in
this
room
so
providing
a
zero
knowledge
shielding
doesn't
give
you
anything
so
I
need
to
have
more
incentives
for
people
to
come
and
stay
in
the
room,
so
this
is
literally
what
it
means
by
a
privacy
mining
in
a
journalist,
mining
context
right:
okay,
so
I'm
gonna
flip
the
gear
and
try
figure
out
in
a
reverse
sense.
What
does
it
really
mean
to
understand
privacy
from
a
data
perspective?
K
If
any
of
you
actually
have
read
the
paper,
I
I
am
assuming
okay,
I
remove
I
remove
the
paper,
but
this
is
what
it
is.
There
are
three
things
that
you
need
to
have
if
you
want
to
have
a
machine
learning
algorithm
to
gain
some
Advantage
number.
One
is
the
hardware
number
two
is
a
model
essentially
humans
to
build
a
model.
Third
is
the
data
and
the
data
is
the
mod
right.
So
essentially,
what
is
happening
is
in
a
world
where
there
is
privacy
and
world
with
no
privacy.
K
So
you
can
have
a
machine
learning
algorithm
that
has
access
to
all
the
data,
and
that
is
an
advantage
compared
to
a
machine
learning
algorithm
in
the
world
where
there
is
privacy,
you
don't
have
access
to
all
the
data.
Okay,
so
the
price
differential
between
the
two
is
the
real
question
we
are
asking,
and
is
this
the
price
that
we
have
in
the
market
and
can
we
use
this
price
as
an
indicator?
Is
there
anything
left
on
the
table
if
you
have
to
do
this
and
apply
zero
knowledge,
so
it's
an
economically
viable
protocol.
K
This
is
essentially
my
question.
Okay.
This
is
the
paper.
I
was
thinking
about
the
only
usual
effectiveness
of
data
right.
This
is
a
bunch
of
guys
from
CMU
and
Google
they're
kind
of
saying
three
things
and
I've
kind
of
described
it.
Oh
sorry
again,
so
this
is
what
I
was
saying
right.
There's
this
construct
of
a
data
Arbitrage
right.
You
can
actually
play
this
game
against
the
protocol.
So
as
long
as
soon
as
you
actually
find
out,
you
know
this
is
the
price.
K
You
know
it's
very
open,
so
you
can
have
a
whole
bunch
of
advisory
again
and
I
talk
about
a
second
order
once,
but
just
ignore
that
just
think
of
the
first
order.
Think
of
the
possibility
that
you
have
a
machine
learning
algorithm
and
you
can
you
have
a
two-legged
strategy.
You
sit
across
a
private
World
in
a
non-private
world
and
you
play
this
game
across
okay.
So,
in
general,
there's
this
question
about:
how
do
you
really
price
data
right?
K
It's
a
non-trivial
challenge,
so
biggest
problems
that
we
actually
have
is,
if
you
have
a
random
set
of
data.
How
do
you
know
this
is
original?
How
do
you
know
there
are
no
copies?
How
do
you
know
that
you
know
access
to
data
doesn't
mean
a
copy,
is
not
being
created,
just
random
things,
small
things
but
random
things,
but
very
very
hard
problems
right,
but,
typically
speaking,
you
have
this
curve
that
exists
right.
K
There's
like
the
possibility
of
having
what
I
call
Extreme
privacy
and
there's
this
a
scenario
of
I
wouldn't
really
agree
with
this
graph.
But
this
is
the
nearest
to
what
I
can
think
of
right.
You
shouldn't
ever
assume
that
if
you
have
zero
previously
there's
maximum
utility,
there
is
always
this
Arbiter
who
actually
sits
in
between
that
actually
takes
the
utility
out
of
you,
and
this
is
the
reason
why
we
should
consider
privacy,
at
least
in
my
mind,
so
the
curve
that
gets
to
this
part
of
it
literally
you're.
K
Never
you,
as
a
user,
are
never
actually
going
to
get
the
full
utility
out
of
it.
There
is
somebody
who's
going
to
pick
your
data
run.
A
machine
learning
algorithm
run
an
Arbitrage
against
you
and
then
take
profit
out
of
it,
so
think
Google
think
Facebook
you're
never
going
to
get
the
maximum
utility
right,
but
the
trade-off
is
like
very,
very
important.
Now
Switching
gears
now
I'm
going
to
talk
about
zero
knowledge,
so
simple
description
of
zero
knowledge.
K
Have
the
ability
to
get
outside
this
room
without
using
the
dough?
So
I
am
the
prover
he's
a
verifier?
He
comes
in.
Imagine
there's
a
door
and
he
just
lets
me
in
close.
The
door
waits
for
five
minutes
in
five
minutes
time.
If
I'm
seen
outside
this
room,
then
he
knows
for
a
fact
that
my
claim,
which
is
actually
the
thing
I'm
proving
that
I
have
the
ability
to
escape
from
this
room
without
using
the
dough.
That's
a
zero
knowledge.
K
I
can
run
this
protocol
as
many
times
as
I
want
I've
been
in
the
two
of
us,
but
he
would
never
find
out
how
you
know
how
I
escape
out
of
the
row.
This
is
this
classical
explanation
for
us
so
yeah.
My
summary
thing
would
be
like
if
you're
really
interested
there's
this
piece
that
aliens
hasn't
wrote,
It's
called
Cambrian
explosion,
crypto
proofs,
very
interesting
insights
in
the
sense
like
it
describes
how
proofs
have
evolved
over
time.
K
I
kind
of
took
a
bunch
of
them,
so
I
can
explain
things
reasonably
well.
How
many
minutes
do
I
have
Okay
so
going
back
in
time
in
history?
You
know
in
the
late
70s
you
know
publicly.
Crypto
was
born
and
before
that
there
were
like
some
other
cryptographic.
Primitives
that
are
around
mostly
were
symmetric.
Primitives,
the
Semitic
Primitives
include
hash
functions,
block
ciphers
stream,
ciphers
and
stream.
Cypress
and
block
ciphers
have
been
around
for
a
while.
If
anybody
is
interested
in
history,
you
can
look
at
Enigma
and
crypto
analysis
of
enigma.
It'll.
K
Give
you
a
very
good
history
of
classical
group
analysis
in
that
sense,
and
what
has
happened
is
in
the
late
70s.
There
was
a
introduction
of
public
encryptal
and
then
a
whole
bunch
of
new
things
as
possible
so
prior
to
having
a
public
crypto.
If
you
ever
wanted
to
have
a
secure
communication
with
someone,
you
actually
have
to
meet
someone
or
have
a
channel
set
up
that
you
trust,
whereas
in
the
case
of
public
key
crypto,
what
has
happened
is
now.
K
You
only
need
to
trust
the
map,
I'm,
not
saying
trust
them
out,
but
verify
it
right.
At
least
once
you
have
info
people
verifying
it,
you
know
for
a
fact
that
you
can
securely
communicate
with
anybody
once
you
know
the
public
key
right,
so
you're
a
public
and
a
private
key,
and
you
can
actually
communicate
with
anybody
without
having
met
them.
That's
the
key
and
different
kinds
of
cryptographic:
Primitives
keep
security
to
public
key
cryptography.
K
One
is
elliptic
curve,
the
other
one
is
integer
factorization,
given
a
very
large
number
find
the
largest
prime
factors.
That's
the
integer
factorization
an
elliptical
essentially
means
like.
If
you
have
a
random
point,
an
elliptic
curve,
how
many
times
at
this
point
jumped
around
that's
considered
like
a
difficult
problem
to
solve
the
first
one
is
proven
to
be
in
an
NP,
but
this
is
assumed
to
be
as
hard
as
that
one
okay,
so,
oh,
let
me
just
go
back.
Can
I
go
back
yeah?
K
So
you
know,
if
you
think,
about
the
economic
value
that's
currently
being
held
behind
this
set
of
all
problems
right,
you
could
actually
think
about
hash
functions
like
one
of
the
things
that
most
people
kind
of
forget
about
is
like
all
of
what
we
do
is
pretty
much
based
on
hash
functions.
Okay,
the
security
of
function.
Hash
functions
is
a
security
on
which
everything
on
top
sets
blockchain.
Yes,
our
signature
schemes.
Yes,
you
know
phones,
yes,
you
know
make
a
list
of
everything
you
have.
That's
the
total
value.
That's
out
there.
If
the.
K
If
ever
there
were
an
attack
on
a
hash
function
and
the
hash
function
is
completely
broken,
we
would
have
a
real
real
problem.
Okay
and
I
should
also
say
in
the
world
of
zero
knowledge.
We
have
a
slightly
different
class
of
hash
functions.
We
use
because
the
hash
functions
like
sha,
it's
a
kind
of
bit
difficult
to
implement
in
over
an
elliptic
curve,
it's
very
messy,
so
we
have
like
things
like
facility
and
other
ones.
K
So,
if
you're
interested
said,
you
should
probably
have
a
look
at
Z
price
and
me-
and
my
team
are
involved
in
that
particular
competition,
which
is
like
implementing
hash
functions
for
zero
knowledge
Okay.
So
so
the
way
I
would
describe
it
is
slightly
easier.
Okay.
This
is
how
it
is
so
1984
85,
three
people,
Shafi
gold-
was
a
third
person
name,
I
forgot
the
name
different.
They
actually
had
a
paper
describing
azero
North,
so
everybody
thought
it
was
a
silly
thing
to
do.
Nobody
accepted
paper.
K
They
were
rejected
Thrice
and
suddenly
you
know
after
some
time
somebody
realized.
This
is
useful.
You
could
actually
prove
something
without
actually
you
know
having
to
reveal
any
information,
so
there
was
interactive
zero
knowledge
right.
So
this
is
this.
Remember
me
talking
about
integer
factorization
there's
a
related
problem
called
quadratic
reciprocity,
so
you
could
actually
use
that
to
prove
certain
lensing
interactive
such
and
then
what
has
happened
is
like
somewhere
along
2011.
There
was
a
scheme
that
was
created
that
has
actually
non-interactive.
K
Okay,
interactive
versus
non-interactive
is
like
imagine,
niada,
Coral,
dough
and
my
name
is
kind
of
mapped
in
such
a
way
that
every
room-
that's
there.
Basically,
if
it's
a
one
I,
have
the
ability
to
escape
from
the
room
with
the
zero
knowledge
interactive
protocol.
If
it's
zero
I
can't
escape
right,
so
essentially
by
running
a
protocol
and
getting
a
commit
against
all
of
the
rooms,
you
would
actually
know
whether
I
am
the
person
in
zero
knowledge
or
not
effectively.
That's
like
a
applying
a
feature
metric
on
an
interactive
protocol.
K
Okay,
so
that's
literally
what
happened
and
then
there
was
improvements.
The
first
to
the
schemes
to
evolve
was
Pinocchio
in
2013
I
think
then
Z
cash
was
produced
and
then
in
between
there
was
a
growth
growth
16
was
produced
and
then
what
has
happened?
The
stock
was
produced.
It's
like
October
2017.
The
stock
paper
was
produced
by
Ellie
Benson,
the
guy
who
wrote
this
thing
Okay.
So
this
is
a
very
interesting
article.
K
K
This
is
kind
of
like
at
a
high
level.
Again,
there's
been
a
lot
of
blurring
between
stocks
and
snacks.
That
has
happened
so
in
the
past
there
was
a
clear
definition
of
snacks
stocks
that
actually
use
fry
and
the
security
for
that
pretty
much
came
from
hash
functions,
so
they
are
quantum
resistant
in
a
sense
like
imagine
tomorrow,
if
you
have
a
quantum
computer
with
enough
of
gates
to
actually
run
shows,
algorithm
ensures,
CQB
ensures
algorithm
and
a
finding
Cycles
in
an
abelian
field
is
linear.
K
What
that
means
is
even
if
you
increase
the
size
of
your
keys,
you
still
will
be
able
to
decrypt
it
in
linear
time.
Essentially,
what
that
means
is
you
could
decrypt
all
of
ethereum
all
of
Nia,
all
of
Bitcoin
if
you
have
access
to
a
large
enough
corner
computer
right,
so
stocks
are
resistant
to
that
you
know
you
have
to
in
the
best
attack
is
Growers
attack,
so
Growers
attack
is
searching
in
an
unsorted
database.
That's
a
square
root
and
speed
up,
so
it's
almost
equivalent
to
about
the
attack
right.
K
So
this
is
kind
of
what
it
is
so
bulletproof
use
in
the
factorizations
stocks
use
a
hash
function
if
they
use
fry
and
snacks
actually
use
the
ellipticals
right.
I
was
describing
the
two
classes
of
problems
that
are
supposed
to
be
hard.
One
is
in
digital
factorization.
Another
one
is
like
elliptical
one
point
jumping
on
a
curve
right,
so
the
the
knocks
and
stocks
have
kind
of
merged.
K
K
If
anybody's
interested
I'll
send
you
the
high
resolution,
one
so
summary
is
like,
if
you
are
looking
at
a
normal
protocol,
a
layer,
one
protocol,
I've
taken
the
case
of
ethereum,
because
I've
I've
been
I've
already
deployed
one
one
of
my
schemes
on
part
of
the
protocol
on
ethereum
I've
deployed
part
of
the
protocol,
linear
as
well.
I
haven't
optimized
it.
So
you
know
comparison
won't
be
fair.
This
is
kind
of
optimized,
so
I
know
what
it
is.
So
in
general,
the
highest
upside
you
can
see
for
zero.
K
Knowledge
is
like
for
Roll-Ups,
but
if
you
actually
do
recursive
Roll-Ups
with
ZK
right
and
like
a
typical
transaction,
is
like
a
400k
kind
of
gas
kind
of
situation
right.
Okay,
so
there
are
two
classes
of
math
that
you
really
require
to
do.
Zk
one
is
ffts.
This
is
a
fast
Fourier
transforms
anybody
who
has
done
Digital,
Signal
processing.
You
should
know
what
that
is.
It's
just
multiplying
large
numbers
using
some
random
switch.
Okay
and
other
one
is
called
multiscala
multiplication
right.
K
So
if
you're
really
interested
in
multiscaler
multiplication,
I
would
recommend
you
actually
look
at
this.
They
are
looking
at
an
fpga
implementation
and
trying
to
make
zika's
really
fast.
Now
you
might
ask
me:
why
are
you
talking
about
this,
this
two
sides
to
this
argument?
One
is
the
real
compute
cost
and
the
other
is
the
time
question.
So,
if
you
could
do
more,
you
could
actually
have
more
transactions
and
in
any
layer
one
you
can.
Then
you
know
overall,
over
a
period
in
time
have
a
much
lesser
cost,
because
you
have
economies
of
scale.
K
If
you
do
10
transactions
in
a
block
and
your
block
is
going
to
cause
X,
the
cost
of
one
transaction
is
X
by
10
right.
So,
if
you
could
do
100,
you
get
one
order
of
magnitude
less.
If
you
do
two,
you
know
thousand
you
have.
You
know
three
orders
of
magnitude
less.
So
this
is
the
thing
that
I'm
saying.
So
it's
like
the
faster
you
are
you
actually
get
advantage
of
scales
Okay
so,
and
this
is
typically
how
this
normally
translates
to
you.
So
the
thing
that
we're
saying
is
category
wise.
K
As
I
said,
there
are
a
bunch
that
are
stocks,
and
there
are
bonds
that
are
snacks,
and
there
are
things
that
sit
in
the
middle
right.
Polygon
Hermes
is
a
good
example
right.
Fry
is
a
polynomial
commitment
scheme
and
kind
of
what
it's
trying
to
do
is
get
the
best
of
both
worlds.
Okay,
I
should
probably
explain
one
thing
before
I
go
for
any
further.
K
First
knocks
we
actually
require
a
setup
and
what
that
implies
is
like,
if
you,
if
any
of
you
have
come
across
zcash
and
the
problem
they
have
had
in
the
past
is
like
they
had
some
problems
with
their
setup
process.
Okay,
so
there's
a
bug
in
the
whole
map
they
had
done,
and
so
it
was
arbitrarily
possible
for
somebody
to
Mint
as
many
as
they
want.
So
that
problem,
as
in
like
the
setup
problem,
is
kind
of
avoiding
a
stock.
K
Okay
and
also
there's
the
size
of
the
proof,
like
the
size
of
the
proof,
is
slightly
larger
and
not
all
computations
are
as
fast
as
knocks.
So,
if
you
combine
both,
you
can
actually
almost
get
the
best
of
both
worlds.
That's
what
they
have
tried
to
do
so
in
general.
So
if
you
look
at
stocks,
there
are
more
like
a
fft
kind
of
computation
and
if
you
look
at
more
like
a
plonky
and
all
the
rest
of
them,
the
plan
schemes,
which
is
like
this
called
all
those
teams
over
here,
the
Aztec
guys.
K
You
know
those
two
guys
are
the
guys
who
actually
created
the
scheme,
other
people
improved
it
and
that
there
are
a
bunch
of
other
ones
that
are
around,
so
they
have
a
more
multi-scalar
multiplication
right.
What
is
this
thing?
Okay,
so
if
you
think
about
this
in
a
very
large
sense,
you
could
actually
have
gpus
fpgas
and
R6
same
thing.
That
applies
to
mining,
more
or
less
applies,
but
there's
a
higher
IO
requirement
input
output
requirement,
so
it's
kind
of
very
hard
to
actually
optimize
for
Asic
in
a
fuller
sense
and
yeah.
K
K
So
this
is
my
conclusion.
So
first
and
the
foremost
thing
I
always
say
to
anybody,
is
there
is
no
such
thing
as
free
lunch.
If
there
is
computation
you're
going
to
pay
a
cost
for
it,
and
privacy
is
something
that's
going
to
be
understood
in
an
economic
sense,
it's
like
if
you
are
going
to
provide
privacy
and
it's
going
to
be
so
expensive,
nobody's
actually
going
to
have
it
right
and
the
other
thing
is
I
competing
with
centralized
systems
again
is
non-trivial,
so
most
of
us
actually
think
about
privacy.
K
We
think
about
zero
knowledge
in
a
decentralized
manner.
If
you
ever
think
about
competing
with
once
a
system,
it's
generally
speaking,
challenging
and
current
Tech
current
crop
of
text
that
actually
provides
privacy
I,
don't
think
they
are
in
a
stage
where
they
could
really
compete
with
everybody
else
and
cost.
That's
my
two
cents.
K
K
Okay
so
I'm
saying
a
couple
of
things.
Firstly,
if
you
look
at
the
cost
of
finding
cost
of
running
GK,
the
cost
of
running
ZK
has
to
be
always.
If
you
are
doing
that
for
privacy,
it
has
to
be
always
below
in
the
Arbitrage,
so
I
am
trying
to
price
the
price
of
privacy.
So
I
have
two
worlds
where
one
world
they
actually
have:
no
privacy,
another
world,
there's
privacy
and
there's
two
machine
learning:
algorithms
that
are
running
there's
an
Arbitrage
between
the
two
of
them.
K
That's
the
total
space
I
have
so
whenever
I
build
an
algorithm
that
has
ZK.
That's
that's
kind
of
my
assumption.
There
should
be
something
left
between
the
two,
so
you
can
actually
really
economically
viable
sense
run
it.
Otherwise,
you
can't
and
all
the
tools
that
you
have
available
are
the
tools
I
mentioned
and
I
kind
of
gave
you
an
indication
of
what
the
cost
is
for
doing
most
of
the
things
that
make
sense.
O
K
So
I
I
had
a
slide
on
this,
but
I
removed
it.
So
this
is
what
you
can
do.
That's
a
couple
of
solutions.
You
have
number
one
is
like
you
can
add,
Hardware
custom
hardware
and
you
can
accelerate
the
compute
as
one
number
two
is.
You
can
actually
do
delegated
proof
computation,
so
Patrice
mistro,
actually
from
Elio,
actually
gave
a
talk
and
that
kind
of
describes
how
you
could
actually
delegate
the
compute
and
you
can
from
a
browser.
K
For
example,
you
could
then
use
an
NPC
mechanism
to
delegate
your
computer
someplace
where
there's
hardware
and
you
can
do
the
compute.
So
there
are
trade-offs
again
goes
back
to
the
thing.
I
was
saying
it
has
to
be
economically
viable.
It
has
to
be
within
the
bounds
of
network
latency
and
computational
latency.
If
you're
going
to
do
something-
and
you
have
to
wait
for
two
minutes.
L
P
So
you
mentioned
cost
of
doing
ZK
should
be
less
than
the
Arbitrage
profits
for
I
guess
the
default
use
case,
but
how
might
one
think
about
the
cost
of
doing
ZK
for
other
use
cases?
That's
outside
of
D5
so
like?
What's
the
the
incremental
cost
that
people
might
want
to
pay
for
privacy
in
other
use
cases?
Okay,.
K
So
I'll
be
very
honest:
that's
a
question.
I,
don't
have
an
answer
to
I've,
actually
done
a
lot
of
analysis
for
D5,
because
I've
been
working
on
D5,
but
my
general
sense
is
a
following.
Nobody
actually
goes
to
a
McDonald's
to
buy
a
smoothie,
but
they
go
to
McDonald's
to
buy
a
burger
when
the
Smoothie
is
a
Delta
and
they
they
really
don't
see
the
the
massive
cost.
So
that
would
be
my
basic
assumption
if
the
cost
of
the
Smoothie
is
greater
than
of
the
burger,
which
is
essentially
the
utility
function,
we
fail.
K
So
for
me,
in
B5,
I
have
a
reasonable
amount
of
what
I
can
go
for,
but
in
general
sense
imagine
an
identity
scheme.
It's
pretty
much
impossible
for
me
to
find
the
pricing
right
so
I'll
be
honest
and
I'll.
Tell
you
a
friend,
I,
don't
know
somebody
should
do
a
PhD
thesis
on
this
thing
and
figure
out
what
you
know.
It's
very
useful
for
society.
K
If
you
think
about
it,
privacy
is
a
basis
of
democracy
and
if
you
don't
have
privacy,
your
vote
is
known
to
everybody
else
and
having
seen
Cambridge
analytics
and
seeing
the
effect
of
it
globally,
I
would
say
we
as
Humanity.
We
as
a
civilization,
especially
the
western
civilization,
should
really
understand
the
cost.
I,
don't
know,
I
put
my
hand
up
and
say:
I,
don't
know.
M
K
Be
very
honest:
I
knew
the
Neo
team
is
actually
working
on
things
because
the
last
time
I
talked
to
Elia.
He
was
saying
they
are
interested
in
zamzique,
but
I,
don't
know
exact
state
of
FS.
So
what
I
have
done
for
my
project,
which
is
Panda
protocol?
You
got
a
grant,
we
deployed
our
protocol
onto
near,
so
Aurora
actually
has
solidity
compatibility.
So
all
the
libraries
are
there.
So
I
honestly,
don't
know
in
general.
K
If
you
are
an
L2,
if
you
want
to
have
a
sorry
L1,
you
want
to
have
L2
as
in
like,
if
you're
a
layer,
one
as
a
blockchain-
and
you
are
a
layer,
2
optimization
mechanism.
Then
if
you
want
to
have
the
benefits
of
zero
knowledge,
Zeke
rollers
will
be
the
path
to
go
again.
I
am
not
suggesting
anybody
should
do
anything.
A
Thank
you
Anish
and
the
great
presentation
on
zero
knowledge
and
the
economics
of
zero
knowledge
proof.
We
were
going
to
have
a
short
break
of
five
minutes
and
please
come
back
in
five
minutes
where
we
have
someone
coming
from
El
Salvador
to
talk
to
you
about
a
little
bit
more
than
just
Bitcoin
in
El
Salvador.
F
There
are
400
million
small
and
medium-sized
businesses
in
the
world.
This
represents
95
of
the
world's
companies
and
60
percent
of
all
workers,
while
larger
businesses
have
access
to
Capital
at
very
low
interest
rates.
A
staggering
50
percent
of
smes
borrow
from
informal
sources,
often
at
rates
in
excess
of
one
thousand
percent.
Apy
Acumen
and
near
have
partnered
to
change
this
near
singular
focus
is
to
enable
the
most
user-friendly
and
real-world
impactful
blockchain-based
applications.
Acumen
is
solving
a
real
problem
faced
by
smes.
F
Access
to
Capital
using
the
near
blockchain
Acumen
is
able
to
connect
Global
Capital
providers
and
smes
in
Emerging
Markets
with
minimal
friction
by
working
together,
Acumen
and
near
are
able
to
effectively
Bridge
activities
in
the
off-chain
world
and
the
on-chain
world,
while
keeping
users
on
each
side
focused
on
the
problems
they
are
trying
to
solve,
which
includes
funding
their
business
for
off-chain
users
and
access
to
uncorrelated
yield
for
on-chain
users.
Acumen
leverages
defy
to
power
microfinance
globally
and
is
a
Pioneer
in
the
use
of
D5
to
address
Financial
inclusion.
F
Acumen
believes
in
defy
and
do
good
and
empowers
smes
in
Emerging
Markets
by
providing
access
to
Capital
at
reasonable
rates,
while
providing
stable,
uncorrelated
returns
to
the
D5
Community
through
its
protocol,
Acumen
has
successfully
implemented
its
seed,
Capital
pool
in
El
Salvador
and
is
now
working
to
expand
and
scale
the
Acumen
model
first
in
El,
Salvador
and
then
globally.
This
is
how
Acumen,
using
D5
for
good
has
had
a
positive
impact
on
the
daily
lives
of
these
people.
My.
F
Until
2022,
your
investment
has
changed
the
lives
of
thousands
of
people
and
we
are
just
starting.
Will
you
join
us
to
make
the
impact
even
greater?
We
are
partnering
with
industry
and
governments
globally
in
introducing
the
Acumen
model
to
achieve
a
positive
impact
on
citizens
lives
across
the
world.
R
Well,
Acumen,
being
one
of
the
Pioneers
in
El
Salvador
in
bringing
Financial
inclusion
to
the
smaller
micro
company,
they
are
competing
on
the
level
with
the
ushers
who
are
charging
30
and
40
percent
monthly
interest
with
Acumen
strategy.
They
have
the
ability
to
offer
much
more
cost-effective
loans,
much
more
flexible
loans
without
the
traditional
intermediary
paperwork
and
without
the
long-term
bureaucracy
that
is
involved
with
traditional
banking.
F
S
F
Acumen
is
using
defy
to
fundamentally
change
Capital
markets
by
making
access
to
Capital
more
Equitable
by
bridging
defy
with
the
traditional
Financial
system.
We
are
providing
new
opportunities
to
thousands
of
small
businesses
and
stable
D5
yield
to
the
crypto
Community.
You
can
help
to
create
equal
opportunity
in
our
financial
system
and
a
better
world
for
all
join
us
today.
T
Thank
you.
Everyone
for
coming
can
I
just
say
this
is
one
of
my
favorite
topics,
nice
Financial
inclusion.
You
know
helping
to
bring
what
is
it
now
I
know
it's
over
a
billion
people
that
are
outside
the
formal
economy,
I'm
sure
that
number
is
much
bigger
and
I
think
it's
just
fortuitous
that
we
are
having
this
conversation,
because
my
background
is
in
fintech
and
for
anyone
who
has
also
been
or
dabbled
in
the
fintech
space.
That
was
the
first
thing
that
fintech
wanted
to
address.
T
Financial
exclusion-
and
you
had
all
these
incredible
companies
trying
to
pierce
through
all
of
the
challenges
in
Emerging
Markets.
Some
of
them
succeeded,
but
a
lot
of
them
failed
this
one,
okay,
a
lot
of
them
failed.
So
it's
interesting
that
we
are
sitting
here
talking
about
a
project
that
has
been
incredibly
incredibly
successful,
a
project
that
I
thought
that
fintech
would
have
been
able
to
deliver,
but
hasn't.
L
T
There's
a
couple
of
questions
I
want
to
ask
you.
The
first
is
tell
us
a
bit
more
about
Acumen,
it's
one
of
the
most
successful
Investments
That
proximity.
Labs
has
you
know,
invested
in
and
basically
how
did
you
manage
to
bring
it
to
the
masses?
The
way
that
you
have
because
again
trying
to
introduce
new
technology
and
Innovation
is
a
very
tricky
thing
to
do,
especially
for
those
who
are
normally
not
well
educated.
T
U
Absolutely
I
my
work
focuses
on
attracting
foreign
investment
into
El
Salvador,
as
it
relates
to
technology
and
Innovation.
So
when
the
Bitcoin
law
passed
and-
and
as
you
may
know,
it
passed
by
a
super
majority
in
Congress,
a
lot
of
companies
came
migrated
to
El
Salvador.
In
fact,
we
we
were
hit
by
an
avalanche
of
companies
from
Singapore
from
the
US
Europe,
the
rest
of
Latin
America,
and
we
couldn't
keep
up.
U
You
know
we
were
not
expecting
the
Global
Response
that
we
have
in
terms
of
branding
in
term
in
terms
of
opening
the
doors
to
all
of
these
companies
that
were
selling
shop
in
El,
Salvador
and
Acumen
came
and
it
Incorporated.
It
became
a
Salvadorian
company
right
because
it
Incorporated
there
and
they
talked
to
us
about
their
project,
which
we
found
absolutely
compelling.
70
of
the
population
in
El
Salvador
happens
to
be
unbanked.
U
That
should
give
you
an
idea
of
the
need
that
people
have
that
small
businesses
have
like
the
ones
we
saw
over
here,
the
taking
not
to
the
banking
request
a
loan,
because
they
would
not
be
able
to
get
it
and
they
have
to
rely.
They
have
to
depend
on
loan
sharks
and
these
Loan
Sharks
not
only
abuse,
small
businesses,
and
you
know
regular
people
like
like
you
and
I,
but
they
charge
fifteen
hundred
percent
four
thousand
percent.
U
You
know
interest
rate
I
mean
it's
incredible,
and
that
is
a
cultural
problem,
because
it
happens
not
only
in
El
Salvador
but
also
in
the
rest
of
Latin
America.
Hence
why
micro
loans
are
a
good
business
in
Latin
America.
At
the
same
time,
when
we
spoke
to
to
Acumen,
we
saw
right
away
the
opportunity
to
deploy
something
that
we
knew
was
going
to
be
beneficial
for
our
country.
Hence
why
you
saw
the
head
of
the
SBA,
which
is
you
know?
Basically,
the
small
business
administration
signed
an
agreement.
U
The
government
signed
an
agreement
with
Acumen
and
we
are
giving
them
giving
them
our
whole
support.
We
are
hand-picking
literally
hand-picking,
the
projects
that
we
want
to
work
with
a
lot
like
I
said.
A
lot
of
companies
have
migrated
to
into
El
Salvador,
but
we're
not
necessarily
promoting
or
applauding
all
of
the
projects,
because
you
know
some
of
them
are
are
fantastic
like
Acumen.
U
T
What
sets
Acumen,
apart
from
the
other
companies
that
have
tried
to
come
in
because
I
think
a
lot
of
the
companies
who
are
also
probably
trying
to
take
advantage
of
El
Salvador,
because
he
took
such
a
big
gamble
becoming
the
first
country
in
the
world
to
introduce
Bitcoin
as
legal
tender.
We
wrote
a
lot
about
that
last
year.
T
It's
success
has
been
variable,
but
we
can
talk
about
that
a
bit
later.
But
what
set
Acumen
apart
and
how
did
you
get
people
on
board
because
even
trying
to
explain
defy
crypto
to
people
that
are
outside
of
our
bubble
is
really
hard.
But
here
you
are
working
with
Acumen
and
they've
onboarded.
Thousands
of
people
so
tell
us
how
that
was
achieved
as
well.
Well,.
U
Actually,
the
the
program
is
barely
rolling
out
and
it's
we're
going
through
a
pilot
process
right
now,
which
means
that
Acumen
is
giving
these
loans
offering
these
loans
to
a
certain
number
of
people.
I
believe
it's
250k
right
now
for
the
pilot
and
the
goal
is
to
deploy
about
10
million
dollars
for
small
businesses,
so
we're
at
the
beginning
of
the
process.
U
I
I
can
quickly
identify
after
a
year,
I
think
I
can
quickly
identify
whether
or
not
an
idea
is
going
to
be
successful
or
not,
and
as
soon
as
I
received
acumen's
proposal.
I
said
no.
This
is
this
is
something
that
we
need
to
put
in
front
of
the
president
and
and
that's
the
way
it
happened.
So
we
sent
the
information
to
the
president
Acumen
an
Acumen
representative
ended
up
meeting
with
president
bukele.
President
bouquet
loves
the
project,
and
it
gives
you
an
idea
of
number
one.
T
T
U
That's
a
very
key
question:
the
reason
why
we
decided
to
do
an
agreement
with
document
why
the
government
basically
signed
an
agreement
is
because
we
wanted
our
SBA,
the
small
business
administration,
which
is
really
called
konamipe,
the
National
Council
of
small
businesses.
We
wanted
our
entity,
that
is,
that
has
thousands
and
thousands
of
small
businesses
Affiliated
you
know
to
to
them.
We
wanted
our
entity
to
help
Acumen
identify
those
small
businesses.
U
So
it's
not
that
the
Acumen
goes
on
the
street
thing
you
know
and
basically
offers
the
loans
to
the
entrepreneurs
they
find
everywhere.
It's
really
a
well-organized,
well-orchestrated
effort
where
the
small
business
administration
is
basically
pouring
putting
this
offer
on
the
table
for
the
entrepreneurs
that
might
have
a
need
to
to
get
a
loan
and
that's
the
way
we're
doing
it.
U
Definitely
I
think
fintech
is
just
a
a
broad,
a
more
General
concept.
You
know
name
for
a
lot
of
the
startups
that
are
in
this
ecosystem.
If,
if
not
all
of
the
startups
right
Financial,
you
know
finance
and
Technology.
Yes,
Acumen
fits
that
category
absolutely,
but
why
is
it
a
D5
company
simply
because
the
loans
are
being
generated
from
crypto?
U
So
a
lot
of
people
who
are
a
lot
of
investors
who
believe
in
the
project
are
putting
money
into
it,
but
this
money
is
coming
in
the
form
of
crypto,
so
it
is
D5
automatically
because
of
that,
and
at
the
same
time,
if
we
talk
about
decentralized
Finance,
oh
and
I
want
to
point
out
really
quick
that
it's
it's
crypto.
The
investment
is
in
crypto.
The
loans
are
in
crypto,
but
they're
backed
by
stable
coins.
So
if
we
look
at
that
other
premise,
then
absolutely
it
is
D5.
We're
talking
about
decentralized
finances.
T
When
it
comes
to
sustainability,
I
would
imagine
as
well
the
transparency
of
being
able
to
record
everything
is
also
a
big
advantage
in
a
place
like
El
Salvador,
which
doesn't
have
like
sort
of
the
best
reputation
when
it
comes
to
you
know,
transparency,
so
I
think
that's
really
good
in
helping
to
advance
the
economy
too,
and
probably
will
encourage
more
investment
as
well
in
the
country
going
back
as
well
to
the
Bitcoin
situation.
So
again
it
was
super
exciting
to
see
El
Salvador
introduced
as
legal
tender
last
year.
T
U
Sure,
when
the
Bitcoin
law
was
announced,
when
the
president
actually
announced
the
proposal
of
the
law
and
he
sent
it
to
Congress
I-
think
for
many
of
us
who
have
been
in
this
space
for
a
long
time,
I
invested
in
Bitcoin
in
2014,
but
but
then
again,
I
begin
technology
for
over
20
years.
So
I
happen
to
be
a
special
case,
but
I
want
to
say
that
perhaps
the
majority
of
people
in
El
Salvador,
some
of
them
might
have
never
heard
a
bit.
U
You
know
about
Bitcoin,
others
might
have
might
have
heard
about
Bitcoin
in
the
past,
but
perhaps
had
an
investor
or
didn't
think
of
it
as
as
a
way
of
transacting
right.
So
when
it
happened,
part
of
the
population
was
in
favor
of
it.
Because
simply
we
understand
that
this
world
is
going
towards
D5.
That
is,
if
not
the
present
it's
the
near
future
and
I
I
can
say
that
a
lot
of
people
were
excited.
U
Yes,
there
is
a
part
of
the
population
that
perhaps
were
not
that
excited
about
it
because
they
didn't
understand
what
Bitcoin
was.
They
didn't
understand
why
El
Salvador
was
adopting
Bitcoin
as
legal
tender
if
we
already
had
the
US
dollar
and
they
didn't
understand
many
many
other
things
and
that's
okay
and
it's
valid
because
we
live
in
a
democracy
and
there
has
to
be
an
opposition.
U
You
know
who
who
might
not
like
the
decisions
that
the
government
takes,
but
overall
after
a
year,
I
want
to
say
a
few
things,
especially
in
the
area
that
I
that
I
gravitate
around,
which
is
Investments.
A
lot
of
companies
have
come
and
invested
in
El
Salvador.
They
have
moved,
they
have
opened
offices,
they
have
generated
lots
of
jobs
for
our
people,
and
you
can
see
this
ecosystem
growing
and
growing
by
the
minute.
U
To
the
point
that
we
have
been
able
to
form
to
create
what
we
call
a
Bitcoin
and
blockchain
cluster,
which
means
that
it's
a
it's,
a
group
of
all
the
companies
that
that
are
in
the
space,
but
they
have
to
be
situated
in
El
Salvador.
In
order
to
be
able
to
be
a
part
of
the
of
the
cluster
Academia
and
government,
and
these
three
sectors
are
working
together
in
order
to
make
this
ecosystem
even
stronger,
so
it's
it's
really
a
country's
project.
It's
not
just
the
governments.
U
You
know,
project
I
think
there
will
be
leaving
a
lot
of
people
in
our
ecosystem.
You
know
even
perhaps
at
this
conference
that
may
not
see
the
need
for
a
country
or
for
a
government
to
adopt
Bitcoin
as
legal
tender
or
any
other
coin
for
that
matter,
but
we
decided
to
do
it
this
way
and
we're
seeing
a
lot
of
benefits
already,
including,
like
I,
said
Investments.
U
However,
we
are
aware
that
without
education,
there
won't
be
Mass
adoption
and
even
though
we're
only
6.5
million
salvadorians
inside
of
the
country
and
3.2
outside
there
still
needs
to
be
a
lot
of
Education.
It
will
be
a
slow
and
long
process.
You
know
nobody
can
can
expect
to
say
that
after
a
year
of
adopting
the
law,
everybody
is
making
transactions.
You
know
transacting
with
Bitcoin.
Is
it's
not
going
to
happen
in
any
country?
There
has
to
be
an
educational
process.
Yeah.
T
So
I
also
want
to
talk
a
bit
about
so
acumen's
plans,
Beyond
El
Salvador.
So
it's
very
ambitious.
You
know
idea
that
you
can
grow
rapidly.
You
know
and
and
move
you
know
throughout
South
America
tell
me
what
you
plan
to
achieve
in
you
know
in
El
Salvador
in
the
next
six
to
12
months
and
what
the
future
holds
after
that.
U
I
think
well:
Acumen
is
one
of
a
few
projects
that
were
definitely
promoting
right
because
we're
like
I,
said
we're
hand-picking,
those
jewels
that
migrated
to
El
Salvador
and
made
our
country
their
home
and
now
they're,
ready
to
to
take
off
an
Acumen
happens
to
be
a
very
good
example
of
that.
I
think
the
goal
is
absolutely
on
board
as
many
small
businesses
as
possible,
those
that
are
unbanked
those
that
there
is
absolutely
no
way
they
can
get.
U
If
that
argument,
if
that
process
succeeds
in
in
El,
Salvador
and
I
am
absolutely
certain
that
it
will
succeed,
then
the
same
thing
can
happen
in
the
rest
of
the
Central
American
countries,
all
of
Latin
America
and
many
other
countries
around
the
world,
especially
in
Africa.
You
know
where,
where
there
is
a
need
and
the
microfinance
business
has
been
proven,
so
I
think
it's
really.
It
will
be
a
matter
of
onboarding
for
the
next
12
months.
T
So
again,
I
just
I
just
want
to
wrap
my
head
around
the
onboarding
process,
so
I,
let's
say
I'm
in
South,
Salvador
I
run
a
bakery
and
I
want
to
get
a
loan
I'm
approved
for
a
loan.
This
is
a
face-to-face
interaction,
correct,
correct.
It's
not
through
a
mobile
phone,
no
okay,
so
I
get
improved
for
a
loan
and
now
how
do
I
pay
back?
T
U
The
advantage
that
we
have
is
that,
like
I,
said
we're
working
with
the
small
business
of
our
small
business
administration,
the
government's
entity,
and
they
have
thousands
and
thousands
of
small
businesses.
So
from
that
pool
you
know
the
small
business
administration
tells
all
of
those
businesses
we
have
explains.
Basically
what
Acumen
is
what
they
would
like
to
do,
what
types
of
loans
they
would
like
to
to
offer
any
then
again,
I'm
an
entrepreneur
and
I
have
a
small
business
and
I'm
in
need
of
this
loan.
Then
I'm
going
to
apply
to
it.
U
The
idea
is
for
Acumen
to
get
to
that
point
where
they
will
have
where
actually
entrepreneurs
will
be
able
to
get
approved
on
an
app
and
and
receive
the
you
know
the
loan.
Otherwise
she
wouldn't
it
wouldn't
really
be
fintech.
You
know
in
a
way,
but
I
think
the
process
of
identifying
the
businesses.
That,
in
theory,
should
be
the
hardest
part,
but
we're
making
it
easier
simply
because
of
the
agreement
that
we
have
with
you
know
between
the
small
business
administration
and
argument.
T
And
I
think
that's
the
way
forward.
It's
like
human
interaction
and
actually
it's
why
it's
been
so
difficult
to
sell,
crypto
and
defy
to
the
mainstream
media,
because
I
think
we've
done
a
terrible
job
explaining
it
and
if
you're
going
to
embrace
this
in
really
exciting
project,
there's
going
to
be
a
lot
of
investment
and
time
needed
to
onboard
them
through
education
sitting
down
with
people
explaining
what
the
process
is.
T
I
have
one
more
question
before
we
wrap
it
up
and
it's
all
about
sort
of
the
microfinance
model
so
I
had
you
know
the
Good
Fortune
to
study
a
bit
on
the
subject
and
microfinance.
It
doesn't
necessarily
work
everywhere.
I
mean
you
think.
Okay,
we've
got
all
the
ingredients.
Let's
set
this
up
in
sub-Saharan
Africa,
let's
set
this
up
somewhere
in
India
and
now
in
South
America,
but
it
doesn't
always
work.
Tell
me
what
it
takes
to
run
a
successful
sort
of
microfinance
project
and
how
D5
fits
into
that.
U
Education
bottom
line
education.
Why?
Because
I
can
tell
you
that
in
El,
Salvador
The
microfinance,
Lending
business
is
successful
in
the
same
way
it
is
successful
in
the
rest
of
Central,
America
and
I
want
I,
dare
say
all
of
Latin
America
number
one.
There
is
a
need
there.
There
are
a
lot
of
people
who
happen
to
be
unbent,
so
there
is
a
need
already
number
two
a
lot
of
these
companies
and
that
are
that
are
in
the
business
of
micro
lending
go
out
of
their
way
to
educate
people
in
regards
to
interest
rates.
U
Yes,
they're
high,
but
you
know
they
they
at
least
people
will
have
access
to
to
this
money
to
Capital.
They
do
a
lot
of
Outreach
a
lot
of
marketing
it's.
The
message
is
constant,
therefore,
I
think
for
Latin
America,
and
especially
for
El
Salvador,
that
that
business
is
successful.
It
might
not
be
the
same
casing.
Other
countries
like
you
mentioned
India,
although
I
I've
read
a
lot
of
articles
about
how
micro
lending
is
in
some
areas
in
India
is
successful
and
I
think
it
has
to
do
with
culture
as
well.
U
You
know
if
people
have
been
relying
on,
let's
say:
I,
my
mother
had
a
small
business
and
she
was
never
she
she
was.
She
never
had
access
to
the
bank
to
a
bank
account
and
I
inherited
that
business
and
I
I
learned
that
I
could
get
a
loan
from
a
loan
shark
or
one
of
these
places.
Where
I
can
you
know,
I
I
can
knock
on
the
door
and
they
will
give
me
some
money
and
the
interest
rate
is
going
to
be
high.
T
L
A
Thank
you
Monica
for
this
inspiring
talk
and
how
we
can
bring
blockchain
for
greater
good
for
microfinance
micro
loans
and
helping
the
ecosystems
thrive.
We're
now
going
to
have
a
short
lunch
break,
so
we
have
about
a
30
minute
break.
Please
enjoy
the
lunch,
enjoy
the
boots
go
visit,
all
the
different
Regional
Specialties
and
see
you
back
here
in
30
minutes.
V
Hey
everyone
hope
you
had
a
good
break.
I
hope
you
got
to
try
some
of
the
good
food
out
there.
It's
definitely
getting
better
every
day,
so
I'm
Marcus
near
Foundation
I
do
community
and
ecosystem
growth.
It's
great
to
have
you
all
here
we
have
some
awesome
talks
coming
up.
We
now
have
Danny
Osorio
of
meadowweb
Ventures
she's,
going
to
be
hosting
a
panel
titled,
not
your
parents,
Facebook
rebuilding
social
media
and
web
3
should
be
very
interesting.
W
W
I
want
to
remind
you,
there's
an
amazing
after
party
tonight
with
a
killer
DJ
that
may
or
may
not
have
been
revealed,
so
keep
your
eyes
peeled
for
that.
Welcome
to
not
your
parents,
Facebook
hurts
a
little
bit
since
you
know.
I
may
have
been
in
one
of
those
early
Facebook
testing
cruise,
but
we're
going
to
talk
today
about
rebuilding
social
media
in
an
age
of
web3
and
I.
Have
today
an
incredible
lineup
of
panelists
joining
us
on
the
stage.
Please
come
Cox
from
connect,
three
Fernando
from
realize
and
Christos
from
blockchain.
W
Y
Yeah
I'm
Fernando
I've
been
on
this
I
know,
years
and
years
already:
I'm,
founder
and
CEO
of
relays,
dot
IO
and
we
are
basically
a
comms
protocol
and
we're
trying
to
solve
some
of
the
problems
within
video
conferencing
chat.
You
know,
file
anything
that
is
really
comes
and
we
came
up
with
a
solution.
A
web
3
video
conferencing
call
people
calling
the
web
series
Zoom.
You
know,
but
it's
a
lot
more
than
that
yeah.
We
are
cyber
security
guys
and
we
do
understand.
You
know
what
has
been
happening
around.
Y
You
know
across
the
world
with
all
of
these
apps
yeah,
so
we
decided
to
have
a
take.
We
we've
been
in
crypto
for
a
long
time
and
we
do
understand
technology.
Well,
so
we
decided
to
have
a
go
at
it
and
we
pretty
much
that
yeah.
You
can
use
it
anytime.
You
want
no
actually
it's
in
beta
at
the
moment,
but
you
can
use
it.
Z
Okay,
so
I'm
Cox,
so
we
build
connection
is
an
open
social
layer
inventory
and
we
on
the
upper
level.
We
enable
users
can
own
their
identity
and
create,
distribute
monetize
and
have
a
social
interaction
read
on
their
Creations
on
their
profile,
and
we
also
have
an
open
social
protocol
which
enable
not
only
us
but
also
all
the
third
party
platforms
or
developers
to
easily
plug
into
our
social
protocol
to
read
or
contribute
the
social
data
into
the
protocol.
Yeah,
wonderful.
W
W
I
remember
at
the
very
beginning
of
Facebook,
they
told
us
they
were
never
going
to
harvest
our
data
and
then
at
some
point
that
sort
of
changed
and
you
know
we
became
the
product
and
so
I
think
what
all
of
you
are
building
is
a
bit
of
a
reaction
to
that
Paradigm
of
the
first
set
of
social
media
platforms
and
so
I'm
wondering
maybe
like
Christus.
You
can
kick
us
off,
but
what
do
you
think
is
most
broken
with
the
existing
forms
of
social
media?
That
capsule
is
looking
to
overtake
like
why.
X
So
let
me
tell
you
a
small
story
back
in
2020
when
kovitz
track.
There
was
this
thing,
this
theory
that
kovit
was
created
in
lab
in
China
I
mean
this.
Is
it's
not
the
point
of
discussing
this
Theory
itself,
but
people
were
posting
about
this
theory
on
Facebook
and
they
were
getting
banned.
They
were
getting
silenced
or
sometimes
like.
The
post
was
taken
down,
even
without
the
user's
knowledge
and
up
until
the
moment
the
White
House
said
yeah.
X
W
Something
that
censorship
resistant,
exactly
okay,
but
here's
the
counter
argument,
because
I
spoke
to
the
Facebook
engineer
that
made
the
algorithm
that
was
designed
to
identify
fake
news
right
and
stop
misinformation
from
spreading
again,
because
there
is
nothing
to
take
that
down.
So
how
do
you?
How
do
you
then
handle
that
kind
of
you
know
Community,
Management
and
like
public,
you
know:
I,
don't
want
to
call
it
public
policy,
but
it
is.
It
is
something
related
to
like
protection
of
the
public
from.
X
W
X
And
there
is
this
Con
the
condom
that
it's
either
controversial
or
fake
news.
We
are
not
for
ex.
We
are
not
a
free
speech
platform,
as
in
you
can
post
whatever.
You
want
weary
platform
where
we
have
a
Content
policy,
but
this
content
policy
is
enforceable
through
smart,
smart
contracts
in
a
transparent
public
Ledger
that
anybody
can
scrutinize
and
check.
Hey
did
this,
this
moderation,
action
was
justified
or
not,
and
I
believe
this
way
people
can.
W
Z
Yeah
so
I
think
in
the
traditional
social
media
users,
like
the
data
they're
at
their
profile
and
their
generated
created
content
will
be
all
used
towards
the
user
embedding
or
we
call
it
it's
like
attributes
about
the
person
so
which
will
be
used
as
a
ads
or
the
content
recommendation.
So
that's
why
the
big
companies
like
Facebook
or
Google,
so
that's
how
they
make
money
right.
Z
Z
So
all
the
data
or
content
we
generally
involved
to
are
in
the
centralized
servers
of
different
platforms,
but
in
web
3,
all
the
data
or
content
in
the
wallets
are
in
what
is
on
different
blockchains,
so
I
think
in
the
future.
In
Webster
world,
the
data
can
be
better
aggregated
or
analyzed
all
the
launching
and
the
identity
user
view.
Z
With,
with,
like
the
techniques
like
ZK
roll
up,
they,
the
user
will
be
able
to
control
their
content
or
their
data
or
their
identity
to
to
control
who
can
use
it
or
even
monetize,
their
user.
Embedding
and
so
we
take
back
the
data
sovereignty
back
to
the
user
and
they
can
better
utilize
their
own
data
to
everywhere,
as
a
recommendation
for
for
monetization
or
for
any.
There
would
be
a
lot
more
use.
Cases
of
that.
Z
Z
Not
only
I
mean
not
only
advertising,
maybe
the
documentation,
the
you
know:
the
monetization,
the
com,
I
monetize,
my
own
created
content
and
the
the
let's.
Let's
take
openly
example.
They
only
take
like
three
around
three
percent
of
the
of
the
share
of
the
revenue,
but
in
Facebook
that
was
45.
So
that's
a
very
huge
change
in
the
in
the
in
the
revenue
cut,
yeah.
W
W
Y
Yeah
we
have
to
look.
We
have
to
think
about
what
really
means
web
3.
Okay,
I
heard
this
saying
sensitive
resistance,
but
when
you
start
to
look
a
lot
of
people,
what
they
are
doing
by
not
even
having
or
the
what
they
are
doing
open
source
at
some
point,
yeah
I
mean
it's
the
same
thing
as
Facebook.
You
know
the
guy
says:
oh
yeah,
we
have
a
bot
that
is,
you
know,
detects
whatever
you
know
it's
fake
news
or
misinformation,
but
it's
missing
what
they
consider.
Misinformation
yeah,
which
we
found
recently.
W
Y
Y
That's
my
point
exactly
you
know:
I
mean
who
are
those
new
sources
I
give
an
example
very
quickly.
You
know
it
was
last
week
that
Facebook
and
Twitter
retracted
back
something
that
they
censored
was
fake
news,
that
natural
immunity
was
stronger
than
the
vaccine
and
they
now
retracted,
but
they
were
the
first
ones
to
censor
that
so
yeah.
Y
Were
well
that's
right,
so
in
web
3
you
cannot
have
anybody
to
control.
What
decide
is
what
it
is
real
or
not,
or
is
true,
because
otherwise,
that
trustfulness
that
exists
in
blockchain
in
crypto
yeah
we're
not
constructing
anything
different
from
web
2.,
so
in
web
3.
First
of
you
have
to
start
by
saying
we're
going
to
make
something
open
source
and
it
doesn't
matter
if
it's
video
or
not
yeah,
it
is
any
content.
So
you
need
to
get
back
to
the
users.
The
users
are
going
to
be
able
to
decide.
Y
You
know
why?
Don't
you
let
the
users
create
the
algorithms.
You
know
that's
print
plenty
of
geniuses
out
there
PhD
guys
that
can
just
come
up
with
something
contribute
to
open
source
project,
for
example
in
in
video
and
what
we
do
in
terms
of
comms.
We
are
going
to
make
everything
open
source
so
that
people
understand
it's
really
secure
we're
not
with
censorship
resistance,
because
extremely
important.
The
way
the
world
is
going
at
the
moment.
It's
it's
Madness
at
the
moment
you
know
so
having
control
of
your
data.
Y
It
doesn't
matter
if
it's
going
to
be
through
an
avatar
or
you
know,
whatever
people
come
up,
there's
cool
stuff
coming
out,
but
you
have
to
give
that
back
to
people.
People
can
create
the
assets
for
anything
that
you
want
yeah
and
they
can
contribute
with
those
things.
So
by
doing
this,
you
can
achieve
a
true
web
3
revolution
in
social
media.
Otherwise
we're
just
gonna.
Go
there.
It's
a
mix.
They.
W
X
So
I
believe
the
the
problem
we
have
right
now
with
web3
is
that
it's
overly
complicated
with
our
users
and
for
somebody
to
get
onboarded
on
a
web
free
and
a
decentralized
application.
He
needs
a
wallet.
The
user
needs
to
know
what
smart
contracts
are,
what
transactions
are
buy?
Some
crypto,
which
is
so
many
steps
to
go
to
a
trading
app
and
by
crypto
anyway,
it's
a
complicated
thing
and
thing
is
with
web
2
applications.
X
Our
parents
don't
know
what
exists
behind
it.
Don't
know
that
there
is
a
smart
contract
behind
the
web3
or
on
Facebook.
They
don't
know
what
that
their
existing
server
a
database
or
whatever
they
know
what
they
do.
They
push
a
button.
They
publish
a
post
and
I
think
we
need
to
reach
a
point
where
this
happens.
On
web3
too,
we
don't
need
to
educate
our
users
to
web3.
We
need
to
bring
web3
to
the
users
and
that's
what
we
do
actually.
On
blockchain
we've
tried
to
create
an
experience
where
the
UI
is
familiar.
X
W
The
time
okay,
actually,
one
of
the
things
that
first
drew
me
to
explore
near,
was
that
it
was
the
only
blockchain
platform
that
had
really
prioritized
the
user
experience
as
something
that
was
mission
critical,
rather
than
an
afterthought.
I
was
like
yeah.
That
makes
sense.
People
need
people
to
use
the
thing
that
we
build.
X
And
that's
why
we
we
chose
near
actually
to
build
on
it
to
build
a
platform
on
the
air
because
to
onboard
the
user.
It's
very
easy!
You
don't
need
an
extension.
You
don't
need
metamask
to
to
be
onboarded
and
I.
Believe
this
way.
People
who
are
in
our
mission
statement
journalists,
people
who
have
to
say
something
to
be
heard
who
are
not
web
3
Specialists,
will
use
our
platform
to
provide
their
content.
W
That's
really
wonderful,
I
think
you
make
such
a
great
point
about
abstracting
away
some
of
the
challenges,
the
user
experience
and
I
definitely
think
that's
going
to
be
Mission
critical
for
web
3
platforms
to
move
forward
Cox.
Do
you
want
to
tell
us
a
little
bit
about
how
you
see
Innovation
with
data
moving
forward
and
maybe
how
the
user
experience
can
impact
that
as
well.
Z
Yeah
I
think
the
so.
The
first
thing
is
as
a
we,
the
the
data
is
in
Webster
is
different.
It's
on
a
different
model,
so
all
the
data
right
now
is
fragmented
in
all
the
Wallets
on
different
blockchains.
So
the
first
thing
I
think
we
should
do-
is
to
aggregate
all
the
data
and
we
make
meaningful
connections
between
them
so
by
meaningful
connection,
I
mean
between
people
and
people,
people
and
the
content
and
people
and
services.
Z
So
this
could
be
a
social
graph
or
interest
graph,
so
we
generate
Insurance
Group
on
on
chain
and
by
their
by
their
own
chain,
both
own
chain
and
off-chain
data
or
the
generated
content.
But
all
those
data
or
interest
graph
goes
back
to
to
the
user,
so
they
own
their
own
things.
So
when
we
so
with
the
interest
graph
I
think
we
can,
we
can
do
a
lot
of
interesting
things
like
I
can
recommend
your
the
content
to
you
that
you
may
be
interested
in
and
but
without.
Z
Z
The
the
create
content
in
a
traditional
platform
all
goes
to
the
platform
themselves,
but
in
future
in
web
3.
The
con
absolutely
belongs
to
user
so
that
they
can
bring
the
content
with
them
to
whatever
platform
they
want
to
use
and
the
the
rules
yeah.
The
rules,
of
course,
is
set
by
the
platform,
but
the
the
user
will
definitely
go
to
the
platforms
that
they
prefer
so
yeah.
So
that's,
that's.
That's
also
I
think
I
agree
with
Crystal
about
that.
Z
The
best
way
is
for
us
is
to
enable
user
to
take
the
benefits
of
web3
without
letting
them
know
or
without
letting
them
feel
it's
hard
to.
Oh,
there
is
a
barrier,
so
so
yeah
so
I
think
the
the
from
product
wise.
It
will
be
the
as
easy
to
use
as
the
current
any
web
to
apps,
but
under
the
hold
we
use
a
Technique.
We
use
website
technique
to
ensure
that
users
own
their
own
things
and
we
can
take
their.
They
can
control
their
privacy.
They
can
better
utilize.
W
Okay,
that's
very
cool,
so
here's
a
follow-up
question,
something
different
in
web
3
from
web
2
is
that
all
the
data
is
public
if
it's
on
the
blockchain,
so
we
have
transparency.
So
does
that
mean
I
can
see
my
friends
data
and
what
data
can
I
see?
What
could
I
do
with
it?
Could
I
get
like
some
Alpha
as
to
like
what
and
if
he's
all
my
friends
are
picking
up.
How
could
that
work.
W
Z
W
Cool
very
cool,
so
so
kind
of
moving
moving
on
from
that
one
of
the
challenges
we
see
really
is
how
having
these
decentralized.
You
know
permissionless
solutions
that
are
built
on
centralized
infrastructure,
so
maybe
Fernando.
If
you
can
talk
to
us
a
little
bit
about
the
stack
that
you've
designed
at
relays-
and
you
know
what
components
of
that
are
decentralized
which
components
are
still
using
Santa
Claus
databases
and
what
the
plan
for
the
future
is.
Y
Yeah,
it's
a
good
question
and
you
see
a
lot
of
stuff
there.
It's
actually
on
centralized.
It's
not
fully
decentralized
a
lot
of
it.
Actually,
you
know,
but
you
have
to
start
somewhere
right.
You
start
always
centralized,
and
then
you
just
enable
people
to
become
nodes,
validators
operators
or
whatever
you
want
to
call.
If
you
have
any
of
that-
and
you
will
see
more
and
more
of
that,
because
I've
seen
Solutions
out
there
that
they
are
running
on
a
server
on
AWS
I,
don't
want
to
mention
names
in
One
server
in
the
US
yeah.
So.
Y
So
what
we
need
to
do
is
to
make
sure
that,
first
of
all,
the
user
understands
where
this
data
is
yeah
being
control
of
that
data
and
instead
of
having
giving
you
the
phone
number,
the
email
you
know
like,
we
have
to
sign
on
web
to
almost
everything
your
entry
is
your
wallet.
Nobody
knows
well,
you
might
share
with
some
friends,
but
then
they'll
know
which
nfts
you
have
right.
So
that's
that's
the
thing
here
is
that
balance
and
you
can
actually
decide
what
you
want
to
share
publicly
or
not
yeah
and.
W
Y
So
yeah
what
you
need
to
do,
then,
is
to
make
sure
that
you
have
a
network
of
node
operators
yeah,
that
you
don't
need
to
create
even
your
layer,
one
yeah!
You
just
need
to
create
your
SDK
wallet,
they
stake
it
and
they
become
a
node
operated
as
a
minimum
entry
level,
and
they
do
several
things
and
we're
using
conjunction
with
a
near
smart
contracts
yeah.
So
your
public
key
from
your
browser
with
my
browser
with
everybody.
This
is
just
how
we've
done
our
stuff.
Y
Yeah,
plus
your
wallet
enable
us
to
create
a
one
session,
key
an
ephemeral
session
key
on
a
near
blockchain,
and
then
what
you
have
these
three
layers
of
encryption,
where
the
not
validators
are
just
making
sure
the
peer-to-peer
in
the
routing.
But
you
know
it's
sustainable
yeah
and
as
the
network
grows,
it
becomes
censorship
resistant.
So
if
any
hacker
any
government
tries
to
bring
it
to
a
node
yeah,
they
only
see
a
stream
that
has
three
layers
of
encryption.
Then
they
have
to
go
back
and
hack
the
entire
near
blockchain
to
be
able
to
find.
Y
W
M
Y
X
To
what
we
have
created
is
a
kind
of
different
decentralized
architecture
than
the
one
you
find
usually
thing
is
when
we,
because
we
want
to
provide
what
we
said
before,
like
the
familiarity
of
web
2.
We
want
our
users
to
be
able
to
post
articles
without
articles
comments,
repos
feeds
without
without
paying
transaction
fees,
without
doing
it,
an
actual
transaction
on
the
blockchain
and
how
we
achieve
that.
We've
created
a
system
where
we
have
at
this.
X
Basically,
all
the
articles
are
stored
on
ipfs
and
we
need
an
index
for
these
articles,
a
searchable
index
where
you
can
like
search
them
by
tag
by
user
by
category
by
title
and
this
index
is
stored
on
a
decentralized
database.
It's
actually
open
source,
it's
called
rbdb
and
it's
been
used
by
a
couple
of
projects,
and
so,
whenever
a
user
posts
an
article
after
it
is
validated
it
is
stored
on
our
bdb
and
it
then
it
is
propagated
to
all
the
other
capsule
nodes
on
the
network.
X
So
whenever
a
user
wants
to
access
an
article,
he
chooses
the
node
that
the
user
wants
to
trust.
So
because
we
are
not
talking
about
transaction
data,
we
don't
need
consensus
that
a
blockchain
provides
for
these
articles.
So
a
user
just
chooses
a
note.
She
trusts
of
its
integrity
and
reads
the
article
that's
stored
on
this
note,
which
theoretically
will
be
all
the
articles
on
blockchain.
X
W
W
That's
really
cool
it's.
Actually,
it's
really
hard
to
see
decentralized
applications
that
are
have
an
entirely
decentralized
stack.
That's
that's
I
think,
that's
definitely
where
the
future
is
headed,
but
it's
very
cool
to
see.
You
know
how
you're
making
your
way
there.
So,
since
we
only
have
a
few
minutes,
I
want
to
end
this.
By
doing
like
a
you
know,
30
second
hot
takes
from
all
of
you
on
what
you
think
the
futuristic
social
app
of
the
future
looks
like
Fernando.
If
you
want
to
kick
us
off,
yeah.
Y
All
right,
look:
it's
the
entry
is
going
to
be
a
wallet.
You
know
no
email,
no
phone,
nothing!
You
know
you
are
in
control
of
it.
You
have
an
avatar,
the
Avatar
could
be
built
by
yourself.
It
creates
a
lot
of
stuff
that
you
can
then
use
within
the
ID.
You
know
there's
a
lot
of
stuff
happening
around
that
and
then
you
decide
what
data
you
want
to
make
public,
because
advertising
is
needed.
Target
advertising
is
needed,
but
you
are
going
to
benefit
from
that
yeah.
So
you're
gonna
get
the
rewards.
Y
If
you
share
your
data
and
not
the
Facebooks
and
the
others
so
in
decentralization
is
key
to
that.
If
you
really
want
to
build
a
truly
centralized
use
a
combination
of
having
a
chain
night
near,
but
if
it
makes
sense
yeah
like
we
did
create
your
own
network
of
node
operators.
So
you
you
know
it's
very
hard,
then
to
break
you
know
what
people
try,
because
people
are
going
to
be
curious
and
they
want
to
find
more
things
about
you
yeah.
It's
very
simple.
Definitely.
W
Z
Think
yeah
I
think
it
it's
bad
that
we
can
just
use
like
web3
apps
as
easy
as
we
just
open
the
Instagram
or
Twitter
on
our
mobile
phone,
so
normal
user.
Won't
they
don't
need
to
know
the
techniques
on
the
whole
and
but
we
use
the
like
blockchain
or
that
website
Technologies
to
make
sure
user
owns.
It
owns
their
own
things
and
they
can
take
a
wherever
they
want
to
go
and
that
is
their.
Their
post
will
not
be
deleted
for
no
reason
so
yeah.
Z
X
So
I
think
they
will.
They
will
not
be
as
different
as
we
know
them
to
be.
Social
media
apps
are
tuned
for
human
behavior.
What
we
will
see
is
ownership
by
the
users
and,
as
all
of
my
colleagues
here
said,
like
decentralization
and
transparent
algorithms
things
we
want
to
know
what's
behind
the
scenes
we
want
to
know.
Why
did
they
see
this
post?
Why
did
I
see
this
ad
and
there
there's?
We
want
to
know
which?
What
data
the
app
has
for
me
so
I
think
they're
not
going
to
be
extraordinarily
different.
V
Yeah,
that
was
certainly
a
great
chat.
Thank
each
of
you
for
coming
up
here.
It'll,
definitely
be
interesting
to
see
how
blockchain
technology
will
shape,
how
we
know
and
use
social
media
today.
This
next
speaker
I'm
happy
to
invite
up
here.
They
have
solidified
themselves.
In
the
space
a
strong
advocate
of
crypto
and
blockchain
Technology,
we
have
Lou
Kerner
of
blockchain
co-investors
speaking
on
Lou
kerner's
thoughts
on
community
okay.
Thank
you.
AA
My
day,
job
is
I'm
a
partner
at
a
firm
called
blockchain
co-investors
we're
a
crypto
fund
to
fund
investing
in
more
than
40
of
the
leading
crypto
VCS
around
the
world.
We
have
a
cryptos
back
and
you
know
and
really
enjoy
that,
but
my
passion
is
really
Community
whoop
and
the
thing
to
change
yep
there.
It
is
okay,
let's
go
on
to
the
next
slide,
and
so
how
do
I
know
anything
about
Community?
Well,
my
community
lesson
really
started
at
bolt.
Boat
was
an
early
social
network.
AA
It
had
been
around
since
96
VC
poured
60
million
into
it
and
then
walked
away.
In
2003
I
became
the
co-ceo.
With
the
original
founder
we
had
500
000
students
or
500
000,
kids,
monthly
uniques,
and
over
the
next
three
years
we
grew
it
to
the
largest
social
network.
In
the
world.
More
than
23
million
kids
day-to-date
Acquisitions
talked
to
more
than
100
kids
about
buying
their
company,
including
being
the
first
person
called
Zuckerberg
and
offer
to
buy
Facebook
a
month
after
relaunched.
AA
After
bolt,
I
did
Angel
Investing
in
and
around
the
space
ultimately
became
a
VC
raised.
A
fund
continue
to
invest
in
in
the
space
in
companies
like
Meetup
and
I
was
actually
investing
in
tech
companies
founded
by
Israelis
when
on
June
29
2017
I
saw
the
crypto
light.
I've
been
crypto,
24
7
ever
since
I
first
went
down
the
rabbit
hole
in
2013,
I
joked
deep
enough
that
the
Wall
Street
Journal
wrote
a
story
quoting
me
as
wall
Street's,
Bitcoin
expert,
but
I
did
not
see
it
and
it
wasn't
until
June
29th.
AA
That
I
saw
it
actually
on
a
conference.
Call
that
I
put
on
to
learn
about
icos
and
on
the
call
somebody
said
something
had
a
Gestalt
shift
and
I
became
the
belief
that
for
the
first
time
in
history,
we
had
a
tool
set
to
solve
for
the
community
instead
of
the
man
in
the
middle
and
I
thought
that
that
was
going
to
be
the
biggest
thing
to
happen
in
history
and
I
was
told
that
there's
a
clock.
I
was
looking
around
for
the
clock.
AA
Where
is
it?
Is
there
a
clock
with
the
time
on
it?
Well,
I'm,
going
to
finish
in
time:
anyways
anyways
wrote,
I
was
in
a
manic
state
for
three
months
after
which
I
wrote
a
kind
of
my
construct
down.
A
blog
post
called
seven
thoughts
on
crypto
after
three
months
down
the
rabbit
hole
was
the
most
red
thing
on
medium
for
three
days:
tag
crypto
after
which
I
didn't
know
at
the
time,
but
medium
ranks
bloggers
in
more
than
100
categories
and
the
category
of
crypto.
AA
That
was
the
most
read
thing
for
three
days
and
according
to
medium
I
was
the
third
most
influential
crypto
blogger
in
the
world
after
three
months,
which
did
two
things
one,
it
made
me
a
guy
in
crypto
and
two.
It
proved
the
first
of
my
seven
thoughts
on
crypto,
which
I
still
believe
today,
which
is
that
nobody
knows
anything
they
were
at
the
start
of
something
brand
new
and
it's
all
you
know
unblazed
Trail
and
my
focus
is:
is
community
so
now
I've
been
thinking
deeply
about
Community
for
20
years,
weirdly
and
I.
AA
AA
The
best
book
that
I've
ever
read
on
you
know
about
crypto,
is
sacred
economics
and,
and
take
good
economics
really
told
me
for
me,
the
ethos
is
that
I
really
feel
that
I
grew
up
in
a
culture
of
greed
and
I
was
taught
that
the
more
I
take
for
myself
the
better
and
that
made
a
lot
of
sense
because
I
like
taking
stuff
I
was
good
at
it,
but
it
turns
out
that
there
are
other
cultures
of
giving
and
cultures
of
generosity.
And,
for
me,
that's
the
culture
of
that's
what
you
know.
AA
That's
what
I'm
here
for,
but
what
is
community
I
start
with
what
is
community
anybody
want
to
take
a
stab.
What
is
community?
No
okay?
So
it's
really
interesting
to
ask
because
it
really
does
mean
different
things
to
different
people,
but
you
know,
regardless
of
how
good
somebody's
definition
is
to
me:
I
I,
distill
it
down
and
distill
it
down
and
distill
it
down
and
to
me
what
a
community
is.
AA
AA
AA
But
how
do
you
give
value
to
your
community
members
right?
It's
all
about
giving
and
value
to
your
communities,
giving
giving
them.
You
know
utility
and
there's
most
of
the
focus
is
on
giving
them
a
dollar,
because
everybody
likes
a
dollar
the
problem
with
giving
people
a
dollar.
Is
it
costs
you
a
dollar?
So
what
you
want
to
do
is
give
them
things
that
cost
you
less
than
a
dollar.
AA
AA
We
have
nfts
that
are
going
to
be
give
such
immense
value
in
the
coming
years.
Is
that
technology?
But
so
for
me,
it's
actually
the
non-cast
incentives
that
are
going
to
be
the
bigger
part,
the
more
interest
and
the
more
compelling
part
of
building
community
and
rewarding
your
community
incentivizing
your
community,
and
that's
why
you
know
I
believe
that
communities
can
scale
highly
correlated
What
I,
Call,
Value
Delta,
so
a
community
makes
something
for
the
members
at
a
cost
of
X.
The
members
get
it
and
they
value
it
at.
AA
Why
and
the
bigger
the
difference
between
X
and
Y
becomes
the
bigger
the
community
can
become,
and
that's
why,
if
you
think
about
it,
the
the
biggest
communities
in
the
world
are
actually
the
things
with
the
biggest
value
deltas
and
we
have
a
collective
name
for
those
things.
We
call
those
things:
religions,
they
produce
Faith
at
50
cents,
a
book,
and
we
know
how
much
people
value
their
faith
at
and
that's
why
religions
have
scaled
to
billions
of
people
and
lasted
thousands
of
years.
AA
There
are
undoubtedly
the
world's
greatest
communities
and
so
again
the
size
of
community
highly
correlated
to
Value
Delta
Faith.
You
know
to
some
degree
you
know
most
people
are
here
because
of
the
near
community
and
and
you're
here,
because
you
have
faith
that
the
New
York
Community
is
going
to
continue
to
have
Kick-Ass
technology
and
do
other
things
for
its
community
members
that
are
highly
positive,
as
it
has
in
the
past.
AA
AA
You
know
I
I
saw
it
and
oh
my
God
and
I
was
a
massive
bull
for
eight
years,
under
a
very
simple
premise
that
I
learned
when
I
was
running
bolt
and
that's
that
you
grow
your
engagement
is
the
key
metric
and
you're
either
growing
your
engagement
or
you're
dying,
and
once
you
start
dying,
it's
very
hard
to
stop
and
so
Facebook
increased
their
engagement
for
seven
years.
You
know
for
every
quarter
quarter
after
quarter
and
they
in
January
of
18.
AA
They
reported
their
first
decrease
in
engagement
in
history,
and
it
was
funny
you
know
super
interesting
to
hear
the
panel
before
but
and
they
actually
gave
a
reason
for
why
it
decreased.
They
said
it
decreased
because
we
decided
to
stop
people
from
doing
the
number.
One
thing
that
people
want
to
do
on
Facebook
book
read
fake
news.
They
really
said
that
that
is
literally.
The
most
click
thing
is
fake
news,
so
grow
your
engagement
figure
out.
How
you
can
engage
the
size
of
your
community
is
to
me
completely
irrelevant.
AA
The
only
thing
that
matters
is
the
engagement
of
your
community.
You
know
much
better
to
have
10
highly
engaged
members.
You
know
out
of
a
hundred
than
one
highly
engaged
member
out
of
a
thousand
so
drive.
The
engagement
I
also
really
strongly
believe.
This
was
a
dinner
I
was
at
at
consensus,
put
on
by
coin
Center,
which
is
kind
of
the
main
lobbying
Organization
for
the
ecosystem
in
in
DC,
since
2000
and
I
think
they
opened
up
in
2011..
AA
AA
You
know
how
negative
that
that
was
going
to
be
their
ever
increasing
share
of
Market
of
tech
market
cap-
and
you
know,
fam
gut,
continues
to
five
years
later.
Accelerate
the
pace
in
which
it
is
you
know,
has
you
know
all
of
the
value
getting
created
in
the
ecosystem
and
for
me
you
know
when
Facebook
rebranded,
to
to
meta
the
most
I
thought,
cogent
thing
that
somebody
wrote
on
Twitter
was
Jack
Dorsey.
AA
He
said
that
it's
not
a
surprise
that
Facebook
is
the
first
company
and
only
company
to
go
all
in
on
the
metaverse,
because
it's
the
only
one
of
the
big
five
companies,
that's
still
run
by
its
founder
and
so
they're
all
here
now,
they're
all
coming
after
the
metaverse
we're
all
here
for
the
metaverse.
The
metaverses
is
the
future.
AA
That's
where
we're
all
going
and
I
actually
think
they
were
in
a
War
for
the
soul
of
the
metaverse
between
the
community
and
what
I
you
know,
and
family
Facebook
Apple,
Microsoft,
Google
and
Amazon,
and
if
we
don't
figure
it
out
and
get
you
know
this
into
the
hands
of
the
masses.
They're
gonna
do
it
and
it
feels
epically
like
Star
Wars
and
we're
the
alliance
and
they're
the
Death
Star,
and
you
know
I
think
most
of
the
time
the
Death
Star
wins.
AA
AA
Anybody
who
wants
to
come
and
help
the
community
I
think
you
should
give
Open
Arms
too,
but
you
just
have
to
realize
the
people
who
are
there
for
the
money
when
the
money
leaves
those
people
are
going
to
leave
because
they're
not
getting
what
they
told
that
they
could.
You
know
that
they
were
going
to
get,
but
you
know.
Obviously
everybody
wants
money,
but
there's
such
a
feeling
that
there's
more
going
on
here
but
anyways
just
to
touch
on
the
crypto
crash
to
me,
having
lived
through
the
you
know
the
whole
internet
boom
and
crash.
AA
You
know,
if
you
look
back
at
Amazon
right,
is
that
a
bubble
up
65x
in
a
couple
years?
Well,
is
that
a
bubble
in
a
crash?
You
know
down
nine
up
65x
down
95
and
in
the
context
of
time
it's
it's
not
even
a
blip
right
in
the
context
of
what
you
know,
Amazon
became
and
to
me
that's
what
that's
what
it
certainly
feels
like
in
crypto
and
I
mentioned
that
I
I
only
have
two
price
targets
that
I've
put
out
in
20
years.
L
V
V
AB
Awesome,
okay,
guys
so
hit
me
perfect,
hey
so
I'm
Fabian
I
am
the
co-founder
and
CEO
of
Kaif
Network
I
am
a
software
developer
and
got
into
the
crypto
space
in
yeah.
It
was
end
of
2019,
early
2020,
actually
and
I
started
out
in
the
army
vehicle
system,
so
I
was
always
working
with
data
storage
and
everything
and
then
I
kind
of
got
torn
into
the
whole
kind
of
network
story.
We're
going
to
talk
a
bit
about
that
and
basically
what
we're
doing
with
clouds.
We
are
building
a
fully
decentralized
data
Lake.
AB
Not
too
many.
All
right,
that's
perfect,
so
basically
think
about
it.
The
following
way:
you're
building
a
company
right
and
this
company
has
to
keep
track
of
every
single
record.
They
are
doing
on
paper
printed
out
put
it
in
a
warehouse
and
after
a
while
of
your
successful
company,
we
have
this
huge
Warehouse,
where
you
have
to
manage
well
tons
and
tons
of
paper,
but
there's
actually
no
use
for
it
right,
because
the
only
use
would
have
is
well
for
some
auditing
cases.
You
might
pull
them
up,
but
basically
just
cost.
AB
You
a
lot
of
money
to
maintain
all
of
this
warehouse
and
make
all
this
data
accessible
in
case.
Someone
needs
it,
and
this
it's
pretty
obvious.
What
happens
next
is
basically
lowers
your
profit
on
the
whole
thing
right,
and
the
least
thing
we
want
to
happen-
is
companies
kind
of
lowering
Profit
just
for
kind
of
like
some
auditing
purposes.
That's
like
a
very
easy
example
of,
like
the
the
current
well
blockchain
space,
because
what
all
those
blockchain
Works
do
and
I
think
Solana
is
a
pretty
good
example
of
that
is.
AB
They
are
highly
decentralized
actually
on
the
Block
creation
process,
but
then
actually
storing
the
data
just
gets
way
too
costive
for
them.
So
what
they
do
is
they
start
pruning
their
data
and
start
deleting
the
data,
and
you
actually
run
to
the
risk
of
centralizing
data
availability
again
to
a
point
where
actually
for
Salon
I
think
it
is
quite
a
case
where
there's
one
public
archiving
node
to
get
all
the
data
from
and
that's
the
Solana
Foundation
itself,
so
we're
actually
running
into
a
centralization
problem.
AB
If
we
don't
start
building
some
secure
places
for
networks
to
offload
their
data
into
right
and
then
it's
also
quite
tricky
to
well
retrieve
all
those
large
amounts
of
data,
because
how
do
you
actually
do
it?
There
are
multiple
like
Solutions
out
there
there's
the
graph,
that's
quite
famous
for
graphical
access,
dual
analytics
for
analytics
purposes,
but
the
problem
is:
is
they
actually
all
don't
work
with
the
native
data?
AB
AB
So
how
do
you
actually
make
sure
that
you're
also
working
with
the
correct
and
valid
data
right,
and
then
it
also
comes
into
that
that
if
you're
a
developer,
there
are
tons
of
different
well
data
applications
and
data
use
cases
you
might
even
have
in
one
app
if
you're,
building
like
a
profile
page
a
normal
database
is
fine.
If
you
may
be
building
something
with
insurance,
you
need
some
more
high-end
data
stick.
But
how
do
you
really
do
it
in
in
web
3
and
query?
There
is
no
solution
to
that.
Right.
AB
There's
also
no
way
to
Cache
State
Transitions,
and
what
does
it
mean?
It
means
that,
if
we're
working
with
a
smart
contract,
what's
going
to
happen,
is
that
if
I
transfer
a
token
from
A
to
B
I'm,
actually
just
subtracting
my
balance
by
10
and
adding
it
to
Beast
person
by
10
right
and
if
we
want
to
replay
that
and
actually
get
to
the
current
result,
it's
a
very
kind
of
intense
computational
cost
you
have,
but
the
problem
is,
you
cannot
really
cache
it.
AB
This
is
a
bit
what's
happening
right
now,
like
a
2008
financial
situation,
but
for
blockchain
infrastructure
right
because
what's
happening
is
right
now
we
see
a
lot
of
like
hacks
on
Bridges
hacks
on
ecosystems,
because
the
underlying
infrastructure
isn't
really
supportive
enough
for
everything
that's
going
on,
and
so
basically
we
could
actually
lead
to
a
huge
collapse
in
the
whole
Market
if
we
start
kind
of
stacking
up
more
and
more
and
more
insecure
systems
on
top
of
each
other.
They
deal
with
like
some
centralized
points
in
some
parts,
because
this
is
just
a
very
easy.
AB
A
very
important
attack,
Vector
for
them,
and
also
the
cost
of
distribution,
is
crazy,
expensive
as
well
I
mean
the
only
reason
why
we
don't
store
nft
metadata
on
chain
on
ethereum,
for
example,
is
because
the
cost
of
storage
is
the
most
expensive
gas
call
right,
and
this
is
because
for
computation,
it's
easy.
It's
a
one-time
thing
and
I
have
the
new
result,
but
let's
say
you
have
your
nft
and
it
has
a
hang
on
ape
image.
AB
You
have
to
carry
this
around
Forever
on
tens
of
thousands
of
machines
to
keep
it
really
truly
decentralized.
So
you
cannot
really
optimize
for
computation
in
one
part,
but
then
data
storage
on
the
other
part
because
they
are
conflicting
with
each
other
right,
that's
kind
of
like
what
the
evm
model
is
and
why
well
actually
so
many
nfts
are
stored
on
Amazon
S3
or
something
like
that,
because
you
just
cannot
simply
afford
storing
all
this
information
in
your
smart
contact
just
by
pure
design
right.
AB
It's
pure
design
choice
that
this
is
impossible
because
you
don't
want
to
start
carrying
around
data
forever,
and
this
is
until
then
we
have
our
weave
and
ipfs
and
like
file
storage,
optimize,
blockchains
kind
of
coming
up
that.
Allow
us
really
to
now
build
the
infrastructure
of
a
fully
decentralized
data
Lake,
making
it
then
accessible
kind
of
for
everyone
else
to
store
the
data
in
one
place
and
then
being
able
to
to
access
it,
and
so
the
whole
kive
story
is
kind
of
like
a
very
organic
thing.
AB
Actually,
so
me
and
my
co-founder,
we
were
working
on
like
a
r
with
kyc
project
and
then
one
day
came
across
a
grand
from
parody
and
our
weave
to
store
parodies
data
onto
our
Reef
because
they
realized
this
exact
problem,
we're
like.
Oh,
we
have
to
find
a
way
to
kind
of
offlay
our
data
to
a
different
place
where
it's
more
optimized
for
data
storage,
because
we
know
in
the
long
run
we
actually
can't
afford
it.
AB
Let's
say
what
what
me
and
John
my
co-founder
built
out
and
then
we
started
realizing
that
actually,
all
of
the
other
ecosystems
have
the
exact
same
problem.
I
mean
all
of
the
evm
ecosystems.
Do
have
the
same
evm
design
problem
right
and
there
is
not
a
real
solution
to
anything
because
even
in
web
2
right.
There
are
multiple
reasons
why
you
would
choose
this
database
over
that
database.
It
could
be
because
you're
more
familiar
with
that.
It
could
be
because
this
fits
kind
of
like
your
choice,
so
it's
really
kind
of
dependent
on.
AB
Where
does
the
developer
build
in
the
end?
And
then
we
so
we
started
reaching
out
to
all
of
those
male
ones
kind
of
like
secure.
The
initial
support
started
building
out
Integrations
for
them,
and
then
it
got
really
really
interesting,
because
then
we
also
came
across
actually
data
providers
like
chain
link
like
the
graph
and
realized.
Well,
actually,
they
have
the
same
problem
as
well.
How
do
they
get
the
data
and
then
monetize
it
like?
AB
How
do
they
actually
get
the
initial
data
and
how
do
they
make
sure
that
the
data
they
work
with
is
valid?
Because
just
imagine
the
economic
damage
that
happens
if
chain
link
would
put
up
an
incorrect
price
I
think
it
happened
for
the
whole
UST
story
when
that
thing
went
down
and
chain
link
had
to
stop
right.
The
Oracle
service
on
other
emms,
the
price
just
crashed,
because
suddenly
you
were
working
with
incorrect
data
all
over
the
place.
AB
Like
are
we
if
we
also
support
other
storage,
backends
like
makina,
filecoin
and
so
on,
and
then
making
this
accessible
in
a
raw
form
really
to
all
projects
out
there.
So,
like
the
graph
can
utilize,
the
covalent
can
utilize
it.
You
can
utilize
it
in
the
application.
If
you're
building
an
nft
Marketplace,
you
can
actually
store
the
data
through
Kai,
iPhone,
permanent
storage
and
then
having
this
accessible
in
your
application,
because
you
know
that
the
data
you'll
be
working
with
is
actually
correct.
AB
So
the
way
this
works
and
how
we
ensure
that
data
actually
stays
valid
is
a
proof
of
stake
system.
So
we
have
two
types
of
nodes
where
Cosmos
SDK
based
chain
that
handles
all
the
consensus,
and
then
we
have
protocol
nodes
that
are
relaying
the
data
via
runtime
and
the
runtime
can
really
be
anything.
It
can
be
getting
the
data
from
well
near
onto
our
onto
our
with
through
car.
AB
If
it
can
be
actually
decentralizing
data,
we
actually
have
a
cool
use
case
in
discussion
right
now,
where
there's
a
platform
from
region
Network,
and
they
have
all
this
weather
data.
That
is
a
public
good
but
centralized,
and
they
want
to
make
sure
that
this
data
stays
accessible.
So
how
do
they
solve
it?
And
this
is
how
they
approached
us
and
saying
hey.
We
kind
of
need
to
get
this
data
decentralized.
Can
you
guys
help
us
with
that
and
that's
actually
what
we're
doing
there?
So
we
have
a
storage
pool.
AB
This
one
is
executing
all
of
the
runtimes
and
has
handling
the
data.
Relaying
and
the
storage
pool
requires
a
project
to
fund
it,
and
then
the
funding
gets
paid
out
over
time.
Mistaken
rewards
to
the
validators
and
to
their
delegators,
and
what's
going
to
happen,
is
if
a
storage
pool
ever
runs
out
of
funding
it
pauses,
and
so
it
doesn't
relay
data
anymore
and
of
course,
then
you're
kind
of
in
this
critical
phase.
AB
If
you're
building
like
an
Analytics
tool,
for
example,
on
top
of
the
data
you're,
always
of
course
incentivized
right
purchasing
kind
of
tokens,
putting
it
up
in
the
pool
as
funding
to
ensure
that
the
system
keeps
on
going
right.
And
if
you
don't
do
it,
it's
fine
as
well,
because
apparently,
then
there
is
no
demand
in
this
new
data
being
produced,
and
this
leads
to
this
really
nice.
Nice
outcome
that,
for
example,
Bitcoin
block
zero
looks
the
same
all
over
the
world.
It
doesn't
matter
if
you
access
it
from
China
from
Europe
from
America.
AB
Of
course,
it's
very
important
to
ensure
were
actually
that
the
stake
you
are
working
with
is
high
enough
right
to
securely
support
the
other
Bridges,
let's
say,
for
example,
you're
building
an
amm
you're
using
kaif's
data
as
your
financial
data,
but
and
the
well
amm
has
a
TV
at
of
1.5
billion
dollars.
Then
I
think
it's
a
fair
question
to
ask:
well,
is
a
stake
in
this
pool
of
like
ten
dollars
enough
right?
Well,
of
course,
no,
it
is
and
you
have
to
provide.
Then
a
stake.
AB
AB
Actually,
why
should
I
trust
any
foundation
if
I'm
running
my
node,
because
you
as
a
node
operator
at
the
end,
have
to
take
the
risk
of
running
it?
If
you
execute
some
some
incorrect
trades
or
something
you're
getting
slash
in
a
proof
of
stake
system
with
that,
then
you
are
the
one
responsible
for
that.
So
in
a
truly
decentralized
world,
you
always
have
to
find
a
place
to
get
your
initial
data
from
when
getting
a
chain,
because
you
cannot
just
sync
on
ethereum
I,
think
it
takes
months.
AB
Actually,
if
you
would
sync
from
other
nodes
to
get
your
notes
up
to
speed,
so
it
has
to
be
something
that
is
like
kind
of
like
a
really
service
for
that
to
it
and
then
yeah.
We
also
have
I,
would
say
all
evm
support
chains.
We
have
Bitcoin
Fury
developer,
you
can
play
around
with
it.
We
have
one
graphical
indexer
out
there
that
you
can
do
cross
chain
analytics
if
you
want
to.
AB
Doesn't
look
like
it,
that's
good
all
right!
Well,
thank
you
very
much
and
yeah.
If
you
want
to
kind
of
know
more
about
Kai
feel
free
to
go
to
our
app
it's
after
careful
Network,
you
can
play
around
with
the
current
test
net
you
can
play
around
with
the
data.
There
feel
free
to
join
us
on
Discord,
with
a
very
active
community
of
developers,
so
node
operators
there
or
just
yeah,
feel
free
to
reach
out
I
will
be
staying
here
in
front
of
the
stage
for
a
bit.
V
Identifying
a
critical
infrastructure
pitfalls
in
the
space
and
then
building
solutions
to
those
are
crucial
to
the
adoption,
growth
and
reputation
of
the
overall
space.
So
thank
you
again,
Fabian
for
coming
up
and
presenting
that
up.
Next
I
would
like
to
I'm
proud
to
introduce
you
to
one
of
the
biggest
Giga
brains
here
at
the
whole
conference.
We
have
Maxim's
zavershinsky
of
pagoda
speaking
on
how
to
be
a
pagoda
power,
user
foreign.
G
G
G
Why
powerful
tools?
Because
we
want
to
cater
to
a
specific
narrow
slice
of
the
developers
and
near
ecosystem
that
build
application?
That
could
then
create
a
very
large
value
for
through
linear
blockchain
and
our
company
Pagoda
is
the
one
that
builds
actually
majority
of
the
developer
tools
for
for
near
ecosystem,
and
so
naturally,
it
is
also
our
responsibility
to
build
develop
tools
for
the
power
users
too.
V
G
Trying
to
address
every
step
in
developer,
Journey
from
the
deep
Tech
Foundation
to
learning
all
the
way
up
to
when
your
application
is
launched
and
successful,
and
today
I'm
going
to
walk
through
each
of
the
steps
and
tell
you
about
the
powerful
tools
that
we
have
there.
So,
let's
start
with
the
Deep
Tech
Foundation.
G
G
To
allow
you
to
look
up
as
like
the
way
you
would
do
with
a
time
machine,
any
state
of
the
near
blockchain
anytime
in
history,
with
the
same
latency
that
you
would
have
with
a
just
a
regular
RPC
endpoint
and
we're
consulted
working
on
Integrations
with
other
blockchains
or
powerful
projects.
So
you
know
we
have
integration
with
ethereum
we've
been
discussing
integration
with
Cosmos
and
there
are
other
blockchains
coming
up
too.
G
So
this
is
also
something
that
we
provide
for
our
powered
users,
because
sometimes
developers
they
launch
initially
their
project
on
ethereum,
and
then
they
have
a
token
deployed
there,
and
but
they
want
to
move
to
near.
So
what
they
do
is
that
they
keep
their
token
on
ethereum
blockchain,
but
they
develop
the
rest
of
the
functionality
are
near
and
they
have
user
interactions
actually
done
for
the
smart
contracts
running
on
the
air.
So
this
is
how
people
leverage
this
Integrations.
G
Today
there
are
some
features
of
near
blockchain
that
are
very
unique
to
near
I
mean
where
else
you're
gonna
find
the
layer,
one
that
says,
which
virtual
machine
would
you
like
to
use
like
at
near?
We
have
three
right:
we
have
web
assembly
virtual
machine,
a
VM
virtual
machine,
JavaScript
virtual
machine
and
we're
going
to
add
more
like
we're.
Not
stopping
here
like
we're,
gonna
get
all
of
them.
G
The
move
is
being
discussed
right
now.
We
also
have
such
powerful
run
time
that
we
don't
bother
even
optimizing
smart
contracts
for
it.
You
know
if
you
are
an
ethereum
developer,
you
probably
know
how
how
much
effort
people
put
into
optimizing
the
solidity
code.
You
know
they
sometimes
go
into
the
assembly
with
near
people
get
sometimes
so
lazy
that
they,
you
know
they
can
just
put
all
of
the
HTML
and
JavaScript
there.
They
call
it
web4
hosting
and
and
serve
it
directly
from
the
smart
contract
and
ethereum
world.
G
Like
let's
say
a
tornado
cash
example.
People
would
serve.
You
know,
front-end
from
the
ipfs
with
near
you
can
jam
the
whole
thing
in
the
same:
smart
contract,
the
front
end
your
business
logic
and
later
I'm
going
to
be
talking
also
about
like
data
aggregation
and
some
tests
and
yeah
and
just
serve
it
like
that.
So
this
is
specifically
because
our
runtime
is
so
powerful,
so
data
aggregation.
G
So
what
we're
looking
at
right
now
is
that
we
think
we
can
replace
some
of
the
middleware
of
the
apps
built
on
a
blockchain
with
our
smart
contract
like
we
can
literally
allow
you
to
build
a
piece
of
your
middleware
inside
of
a
smart
contract.
This
is
also
pretty
crazy.
We
will
be
able
to
have
some
data
pre-aggregation
right
inside
the
smart
contract.
This
is
something
that
we
are
investigating.
G
It's
not
done
yet,
but
you
know
that
will
showcase
the
power
of
the
near
runtime
even
more
and
the
light
client
over
near
is
actually
exceptional,
like
it's
not
like
any
other
light
client
of
any
other
blockchain
that
you
you
know
so
with
near.
If
you
want
to
maintain,
keep
track
of
the
blockchain
and
do
the
validation,
you
need
only
two
headers
a
day
like
with
ethereum.
G
You
need
every
single
header
to
actually
maintain
the
light
client
and
we
use
this
feature
to
build
ethereum
bridge,
but
as
a
power
user,
you
can
use
it
for
many
other
crazy
things.
For
instance,
you
can
use
it
to
verify
the
results
of
the
RPC
responses
that
been
given
to
you
by
any
RPC
standpoint.
You
can
use
it
inside
the
smart
contract
built
on
near
to
verify
validity
of
whatever
other
data
has
been
generated
on
this
blockchain.
G
So
even
you
know,
like
a
a
smart
contract,
would
return
result
from
another
contract,
so
yeah,
it's
it's
something
that
haven't
been
used
much
but
I
think
you
can
build
a
whole
bunch
of
crazy,
powerful
stuff
with
it,
and
we
also
try
to
rethink
how
people
learn
when
they're
power
users
well.
First
of
all
like
if
you're
a
power
users,
you
know
that
sometimes
you
just
don't
read
documentation
right.
You
just
go
there.
You
Tinker
with
the
code,
and
this
is
what
we're
trying
to
heavily
lean
into.
G
We
also
have
a
library
of
the
core
contracts
that
are
very
polished,
they're,
the
Pinnacle
of
the
code
or
the
code
right
on
the
near
blockchain.
You
can
learn
from
it.
You
can
see
some
patterns
in
there.
We
did
a
lot
of
audits,
yeah,
so
I,
that's
how
I
think
power
users
could
learn
too,
and
finally,
things
always
awesome
near
something
that's
been
built
by
the
community.
G
That
will
continue
expanding.
However,
we're
gonna
rethink
our
way
of
learning
even
further
going
forward.
So
one
thing
that
we're
considering
adding
is
a
project
wizard
which
will
allow
you,
if
you
have
an
idea,
if
you
want
to
build
to
just
click
through
several
steps
and
get
the
app
running.
If
you
don't
know
what
you
want
to
build,
we're
going
to
have
a
gallery
of
projects
available
for
you
that
will
allow
you
to
explore
things
and
maybe
come
up
with
your
own
ideas.
So
these
are
the
things
that
are
currently
in
works.
G
G
What
you
might
not
know
is
that
actually
it
can
run
in
two
different
modes.
It
can
allow
you
to
embed
the
JavaScript
interpreter
right
into
your
smart
contract
or
it
can.
You
can
have
a
JavaScript
interpreter
for
multiple
smart
contract.
Our
workspace
suggests
the
test
and
framework
that
actually
doesn't
force
a
specific
JavaScript
framework
on
you.
It
allows
you
to
choose
your
favorite
JavaScript
testing
framework
and
the
wallet
selector
is
actually
something
that
we're
building
like
right
now
and
I.
Think
it's
already
rich
in
the
official
parity
with
ethereum
analogs
and
going
forward.
G
It
will
be
even
richer
and
more
powerful
that
you
see
in
ethereum
space,
so
keep
an
eye
on
that
in
our
rust,
stack,
I
think
the
most
powerful
thing
is
our
I
mean.
Obviously,
SDK
has
been
notorious.
You
know
many
other
blockchains
actually
learn
and
copy
from
it,
but
our
CLI
is
something
that
hasn't
been
spoken
enough
of.
So
this
CLI
is
quite
unique.
It's
basically
a
modular
CLI,
think
think
of
it.
G
G
So
right
now
you
can
run
your
own
data
Lake
framework
indexer
and
extract
any
kind
of
data
from
the
blockchain,
even
in
a
historical
way
and
finally
thing
that
I
already
mentioned,
we
are
we're
going
to
be
exploring
Unchained
data
aggregation
just
because
we
can
you
know,
and
it
will
be
able
to
replace
a
lot
of
the
middleware
for
some
of
the
apps
right.
So
how
do
power
users
on
near
do
building
and
deployment?
Well.
G
First
of
all,
the
the
thing
that
they
care,
the
most
based
on
the
feedback
is
reproducibility
of
the
builds,
and
you
probably
know
that,
even
in
ethereum
space,
where
the
compilation
of
solidity
is
pretty
straightforward,
it
is
still
a
pain
right.
It's
still
compiler
version
dependent
and
near
we
compile
rust
towards
I,
mean
JavaScript
towardsum,
and
it
is
generally
known
to
be
a
challenge
to
make
a
reproducible
rust
compilation,
but
we
pushed
it
to
a
predictability
as
close
as
possible
and
in
most
of
the
cases
I
think
like
practically
speaking.
G
It
should
be
reproducible
our
builds
and
very
likely
we're
going
to
make
it
100
reproducible
in
the
future
too.
Why
do
you
want
to
produceable
builds?
This
is
because
you
want
to
prove
to
your
users
that
whatever
was
on
file,
you
have
deployed
actually
corresponds
to
the
source
code
that
you
put
on
a
GitHub,
so
they
can
verify
that
they
can
trust
you.
G
G
Another
powerful
feature
that
is
kind
of
taken
for
granted
in
in
solidity
space
is
API
generation,
so
we
have
edited
recently
and
we
started
integrating
apis
like
everywhere
in
our
tools,
I
think
it's
also
going
to
be
a
powerful
feature
and
and
finally
check
out
this
community
build
a
project
called
near
Pages,
which
is
basically
a
web
for
host
and
all
right.
So
what
are
we
going
to
add
in
the
future?
G
So
we're
going
to
help
you
with
a
with
with
the
publishing
your
source
code
and
apis
we're
going
to
have
a
source
code,
an
API
registry
which
is
going
to
be
hosted
by
Pagoda?
It's
going
to
be
centralized
service.
Similarly
to
etherscan-
and
we
also
gonna-
provide
you
attestation
to
the
source
code,
so
we
will
be
able
to
see
that
Pagoda
was
indeed
able
to
replicate
the
code,
compilation
and
API
generation.
G
Many
users
will
actually
deeply
care
about
it,
especially
the
users
of
the
D5
applications
running
on
near
because
again
they
want
to
know
that
they
can
trust
this
code,
we're
going
to
have
a
bi-directional
integration
with
Astro
Dao.
So
this
is
something
again
that
really
big
projects
do
by
default.
You
know
like
whenever,
as
soon
as
the
project
keeps
on
evaluation,
you
actually
switch
from
having
a
centralized
private
key
on
and
all
of
the
deployment
of
your
smart
contract
to
having
either
multi-seek
or
a
Dell
controlling
it.
G
So
we're
going
to
add
this
function
into
our
developer
console,
so
it
will
be
able
to
just
check
a
box
and
have
a
Dell
governed
project
there,
and
what
I'm
already
mentioned
is
zero
field
contracts,
so
we're
going
to
investigate
and
just
allowing
you
to
have
a
single
contract
that
are
that
that
runs
both
front-end
data,
aggregation,
business
logic
and
tests
all
in
one.
This
is
still
an
idea,
but
we
are
investigating
it.
So
if
you
care
about
that,
please
let
us
know
we
can.
G
So
this
we're
going
to
be
considering
adding
to
so
testing
and
simulation
is
something
that
power
users
care
very
deeply
about
again,
because
power
users
usually
mean
that
they
work
on
high
value,
high
value
applications
and
high
value
applications
need
to
be
like
waterproof
and
therefore
the
testing
is
super
critical
in
there.
So
what
we
try
to
do
with
Pagoda
we
try
to
make
the
testing
as
easy
as
possible.
G
G
This
is
might
be
a
feature
that
we're
going
to
be
adding
to
developer
console.
We
also
put
a
lot
of
quite
a
lot
of
work
in
making
sure
our
tests
are
super
precise,
like
they
execute
the
way
your
application
would
execute
in
production
again,
something
you
should
be
taking
for
granted
in
a
blockchain
world,
but
the
way
we
sold
it
is
with.
We
actually
spin
out
a
single
node,
so
a
single,
tiny
blockchain.
Every
time
you
run
a
test,
that's
what
we
do
for
you,
which
makes
it
a
perfect
simulation.
G
You
can
have
minute
spooning
and
time
travel
and
gas
profile,
and
all
these
power
features
that
you
actually
have
in
ethereum
world,
but
you
might
not
have
another
blockchain
and
we
even
looking
into
tracing
and
other
kind
of
Diagnostic
and
debuggability
of
the
of
test.
Writing
and
also
we
want
you
to
spend
less
time
on
your
testing,
but
give
get
more
of
the
results.
G
G
So
obviously
we
have
Explorer.
There
are
multiple
explorers
actually
on
your
blockchain,
the
Pagoda
one
is
the
frequently
a
default
one
for
the
power
users.
We
also
have
contract
analytics
in
a
developer,
console
that
allows
you
to
you
know,
look
at
the
basic
stats
and
this
contract
analytics
will
expand
in
the
future.
It
will
become
business
intelligence,
basically
thing
that
will
allow
you
to
even
optimize
your
business,
not
just
the
smart
contract.
G
G
You
can
subscribe
to
this
kind
of
events
through
the
telegram
and
we're
going
to
be
adding
even
more
sophisticated
triggers
and
alerts
mechanisms
together
within
the
Integrations
of
other,
like
various
alerts
and
systems
and
as
I
said,
we're
also
going
to
be
adding
ability
for
you
to
have
business
insights
into
your
the
app
and
even
maybe
give
you
suggestions.
So
what
you
can
improve
there
so
that
you
could
grow
your
user
base
or
have
a
higher
impact.
G
So
that
was
a
pretty
brief
overview
of
the
power
features
that
we
provide
for
our
developers
and
what
we're
going
to
be
considering
adding
in
the
future.
But
you
don't
need
to
wait
for
us.
You
don't
need
to
wait
for
Pagoda
to
create
those
tools
and
add
those
features
you
can
actually
do
it
as
a
part
of
the
community
and
what
you
can
do
if
you
know
what
you
want
to
have
and
Pagoda
is
not
implementing
it.
Yet
you
can
actually
just
join
workgroup
calls
and
propose
it.
G
You
can
submit
a
near
enhancement
proposal
to
build
this
kind
of
tool.
If
you
don't
know
what
you
want
and
you
just
have
some
vague
idea,
you
can
actually
join
Community
groups
and
brainstorm
with
everyone.
What
could
be
done
or
you
can
create
your
own
community
group
for
instance.
Today
we
don't
have
tools
community
group,
but
you
can
actually
create
one
so
feel
free
to
do
it.
Contact
us
check
out
this
URL
link
or
visit
our
booth.
AC
AD
Thank
you
all
for
building
with
us,
and
this
is
Dragon's
Den.
This
is
where
it
happens.
10
top
teams
will
get
to
pitch
on
the
main
stage
in
front
of
Ilya
Marie
and
Alex
they're
there
they're
hiding
behind
the
Combs.
So
you
wouldn't
see
them
not
to
put
any
more
stress
on
you,
so
it's
gonna
be
like
that.
Each
team
will
have
to
present
in
three
minutes
or
less.
We
will
have
a
big
big
timer
here
on
the
main
stage
right.
AD
So
if
you
go
over
three
minutes,
I
will
have
to
put
you
on
a
heart.
Stop
I
will
just
take
the
microphone
from
you
physically
I
hope,
that's
understandable.
Please
don't
be
offended
and
then
our
judges
will
get
an
opportunity
to
ask
you
just
one
or
two
questions
and
please
please
be
brief,
because
you
will
get
three
minutes
to
listen
to
the
questions
and
to
answer
them
after
19
speech
we
will
choose
the
winner,
not
I
I
won't
choose,
they
will
choose,
they
will
choose
just
one
winner.
AD
AD
AE
All
right
so
Harvard
Business
Review,
36
percent,
more
whites
than
blacks,
are
receiving
a
callback
for
the
next
interview.
24,
more
whites
than
Latinos
United
States
attorney's
office
is
having
to
collect
390
000,
because
people
are
working
on
our
Public
Works
projects
like
Amtrak
the
rail
system.
Without
a
current
certification,
lots
of
discrimination,
lots
of
corruption.
AE
AE
AE
AE
AE
AE
AE
AF
AE
How
do
we
make
money
yeah?
Well
for
it,
as
you
can
see
up
on
the
screen,
Angela
did
a
wonderful
job
in
figma
in
showing
what
the
job
portal
is
going
to
look
like,
and
there
is
a
salary
that
is
attributed
for
a
job
now
in
the
web.
2
world,
head
hunters
and
recruiting
firms
can
have
a
one
percent,
10
upwards
of
a
30
percent
commission
for
job
placement
of
a
candidate
into
an
organization.
AF
AD
AH
AH
Over
here
all
right
thanks,
so
basically
we
are
taking
communication
for
granted
in
web3.
Why,
on
web
2,
people
sign
in
with
Facebook
sign
in
with
Google,
once
you
do
this
you're
giving
the
the
web
apps
your
email
address
and
that
works
as
a
way
to
communicate.
It
works
as
a
way
to
deliver
notifications
for
whatever
you
know,
information
might
interest
you
a
different
identity
on
Facebook
and
an
item
you
sold
on
eBay,
etc,
etc.
On
web3,
this
doesn't
happen.
AH
You
connect
your
wallet,
you're
anonymous,
that's
great,
but
how
can
you
get
the
inside
scoop?
How
can
you
get
the
information
sent
to
you
that
matters
to
you
and
not
only
that?
How
can
you
actually
control
it
in
a
way
that
you
don't
receive
spam
and
it's
only
the
the
things
that
matter
to
you
so
Hermes
protocol
is
a
notification
as
a
service.
AH
100
free
for
users
will
get
into
the
business
details
afterwards
and
basically,
what
we
are
doing
is
we're
reading
the
blockchain
data
in
real
time,
parsing
it
and
making
it
into
easy
notifications
that
people
can
subscribe
to,
and
then
they
get
the
notifications
through
the
Discord
telegram
or
Twitter.
These
can
be
sent
to
direct
messages
or
to
public
channels.
On
servers.
AH
Here
are
some
examples.
So,
on
the
on
the
right
side,
we
can
see
a
direct
message
from
our
Discord
bot.
It's
already
around
200
servers
in
this
specific
case,
we're
showing
transfer
from
Anna
one
of
our
team
members
to
herself
sending
some
near
and
on
the
left
side
we're
seeing
the
Hermes
bot
used
as
a
sales
tracker
for
an
nft
collection.
So
it's
sending
the
traits
of
the
nft,
including
Rarity
percentage
on
a
channel
that
everyone
on
that
server
can
see.
AH
So
this
not
only
works
for
private
communication,
but
also
public
channels.
Another
example.
Here
we
have
on
the
left
side
anchor
protocol,
which
I
guess
some
of
you
might
know
from
the
Terra
collapse.
They
actually
used
a
Hermes
protocol
to
subscribe
to
notification
alerts
of
governance
proposals.
So
you
can
see
here
the
bot
automatically
creates
a
thread
so
that
people
can
comment
on
it,
but
it's
done
on
a
read-only
channel,
so
the
only
threads
can
be
posted.
AH
AH
Thank
you.
There
we
go
so
what
we
have
just
shown
is
the
consumer
side
of
the
platform.
We
actually
have
a
planned
out
and
are
already
building
apis,
so
that
adapts
can
integrate
with
us
and
the
way
that's
going
to
work
because
we're
fixing
a
communication
problem
right.
So
the
way
it's
going
to
work
is
that
applications
front-ends
like
nft
marketplaces
or
whatever
the
x
is
they
will
have
you
know
a
button
or
a
tick
box
or
whatever
you
want
subscribe
to
this
alert.
So
on
decks.
AH
AH
Then
we
get
that
signature
so
that
we
know
that
you
know
the
user
authorized
that
subscription
and
then,
whenever
they
trigger
an
alert
off
chain,
in
this
case
it's
obtained,
then
we
we
route
the
information
to
where
the
user
has
the
default,
so
either
Discord
or
telegram
Etc.
If
you
know
zapier,
if
this
and
that
integral
math,
whatever
it's
going
to
work
very
similar
from
the
from
the
user's
perspective,
you
really
pick
and
choose
where
you
want
to
get
it.
AH
Send
the
notifications,
it's
a
it's,
a
mixed
bag
right,
so
we
we
are
planning
to
have
the
entire
notifications
layer
built
on
chain
so
that
everything
can
be
done
through
smart
contracts
and
we
actually
have
a
really
good
partner
called
Andromeda
protocol
to
to
use
this
as
a
Lego
building
block
and
it's
going
to
be
working
fully
on
chain.
But
for
now
using
apis.
AH
That's
going
to
go
to
our
servers
on
one
hand,
it
is
going
to
be
centralized
on
one
entity
ourselves
and
the
service
provider
cloudflare,
but
we're
doing
almost
the
entire
infrastructure
running
on
cloudflare
workers,
which
is
their
serverless
platform.
So
in
terms
of
an
availability,
honestly
I
I
mean
in
terms
of
this
installation,
there's
multiple
aspects
and
pros
and
cons
to
it
right
so
I
think
that
being
present
in
193
cities
across
the
globe
is
going
to
be
pretty
resilient.
AH
AH
I'll
try
to
be
really
quick,
I
need
some
more
times.
I
mean
they're
better.
So
this
following
elia's
question,
he
asked
like
how
how
does
it
integrate
with
other
apps
right?
So
when
people
subscribe
to
these
alerts,
it's
going
to
be
a
very
similar
business
model
to
MailChimp
scene
in
blue
sin
grid,
so
mass
mailing,
except
that
inside
of
emails,
we're
using
wallet,
addresses
so
basically
daps
builds
lists
of
all
the
addresses
of
people
that
might
be
interested.
AH
They
have
to
get
their
users
permission,
of
course,
but
once
people
give
that
permission,
then
they
can
send
out
notifications
whenever
they
have
new
updates
or
whatever
and
that's
charged
at
a
very
small
fee.
But
there
are
more
things
in
plan.
Airdrop
notifications,
Etc
I
mean
I
could
talk,
but
thank
you.
AD
AD
M
AJ
My
name
is
Constance
my
team
and
I.
We
are
representing
near
Singapore
and,
as
we
know
that
melee
City
Capital
Cities,
especially
in
Asia
like
Singapore
Shanghai
Tokyo,
they
have
very
extremely
like
extremely
competitive
job
market.
We
receive
a
lot
of
requests
of
people
looking
for
a
job
looking
for
talent
every
day.
AJ
All
the
time
and
one
question
we
got
asked
most
of
time
is:
do
you
know
this
person
or
do
you
know
this
company
I
mean
there's
LinkedIn
profile,
there's
CVS
and
all
that,
but
there's
little
Trust,
so
we're
tackling
this
problem
from
three
aspects.
One
verify
experience
you
are
able
to
experience
and
send
requests
to
the
money
to
verify
for
you.
The
action
of
verification
will
trigger
an
issue,
a
text.
AJ
Nft,
don't
worry
if
your
profile
will
be
empty
if
you're
coming
from
web
2,
just
like
most
of
our
Guild
members,
you're
still
able
to
key
in
the
experiences
just
that
it
won't
appear
as
a
verified
nft
other
than
that.
You
can
also
invite
your
company
to
join,
and
for
this
we
are
using
text-based,
non-transferable,
erc721
building
on
Aurora
and
second
Glory
badges.
This
function,
acts
like
the
poap
for
the
issuer
is
a
proof
of
impact
for
the
receiver.
It's
a
proof
of
the
glory
moment.
AJ
And
last
one
will
be
on
chain
endorsement.
This
is
the
function
that
allows
the
most
our
entity
shouldn't
only
be
involved
around
our
heart
skills,
our
connections
and
memories.
With
our
mentors,
our
friends
and
teammates
complete
us
with
on-chain
endorsement.
We
can
sell
it
and
take
it
everywhere
forever
for
these
we're
using
text-based
nonsense
for
row
erc721
as
well.
AG
AJ
Do
I
go
to
market
I
already
have
the
market
it's
built
on
demand,
so
in
our
community
we've
got
700
members
right
now
and
they
are
constantly
looking
for
jobs.
Looking
for
talent
and
currently
we're
like
manually,
collecting
information
and
personally
endorse
and
connect
them
is
I
mean
it
gets
the
job
done,
but
it's
quite
limited.
It's
very
menu,
so
we
hope
to
solve
the
problem.
Do
a
three-way.
AI
AJ
AI
AJ
K
M
L
AL
AK
I
was
going
to
say,
I'm
glad
I
got
my
nice
shot
on
today.
Oh,
we
started
all
right.
Cool
Martin
is
near
the
ad
service
for
near
let's
get
started,
so
marketing
is
hard
right.
Projects
need
to
grow,
but
it's
one
of
the
hardest
things
out
there,
a
good
product
isn't
enough.
You
always
need
a
good
strategy.
You
need
a
target
audience.
You
need
people
to
Market
too,
but
that
can
be
hard
in
Bear
market.
AK
So
when
there's
poor
liquidity,
if
we
consider
the
nft
trading
liquidity
or
near
and
compare
it
to
other
platforms,
for
example,
looking
at
the
30-day
trading
volume
and
the
last
30
days,
you
can
see
that
near
has
a
you
know
on
the
leading
marketplaces
has
a
lot
less
liquidity
than
a
lot
of
these
other
guys,
even
though
proportionally
it
should
be
a
lot
more.
So
how
can
we
increase
this?
Well,
our
product
marketing
is
near.
AK
We
want
to
basically
be
the
Google
ad
service
on
there,
so
what
that
means
is
bringing
web
2
marketing
to
web3
by
displaying
targeted
ads
based
on
on-chain
user
data,
which
is
publicly
available
and
doesn't
make
use
of
cookies,
which
is
great.
We
also
using
a
machine
learning
based
approach
because
there's
a
lot
of
noise
in
cryptos.
We
want
to
reduce
that
as
much
as
possible
and
it's
very
efficient.
It's
cost
effective
because
the
advertising
is
very
targeted.
AK
AK
The
ad
Creator
can
sort
of
tweak
their
campaign
to
either
Reach
people
who
are
maybe
already
interested
in
their
product.
Maybe
they
own
a
certain
nft
and
you
want
to
you,
know,
sell
them
another
one
or
you
can
Target
to
a
new
community
that
may
be
interested
based
on
what's
in
their
wallet
and
the
sort
of
transactions
and
interactions
they've
had.
How
does
it
work?
AK
We
can
take
a
cut
in
the
middle,
and
ideally,
we
would
also
like
to
have
a
way
to
sort
of
incentivize
users,
for
you
know
interacting
with
ads
in
terms
of
people
viewing
them,
maybe
giving
them
a
portion
of
our
profits
and
for
the
people
pulling
out
the
ads.
We'll
have
an
auction
mechanism
so
that
you
know
the
more
ads
the
more
they
want
their
ads
out
there,
the
more
they
can
pay
for
them.
AK
AK
AD
AF
AK
Course
I
mean
you
know,
think
of
a
typical
website.
You
may
go
on
and
it
may
show
you
recommended
things
like
Amazon
or
Ebay
shows
you
other
recommended
items,
or
we
can
obviously
have
a
slightly
more
optimized
strategy
for
that.
So
that's
kind
of
like
one
main
service
and
then
obviously
we
would
have
to
work
with
the
I
think
people
would
want
to
work
with
us
because
we
can
literally
get
them
more
customers.
We
can
make
them
more
money,
it
benefits
Us
in
the
process.
AK
AF
AM
AK
Thank
you.
That's
really
good
I
mean
it's
also
in
a
lot
of
these
examples.
I
spoke
about
nfts,
but
really
because
we're
looking
at
Unchained
data,
it
can
be
D5
protocols,
you're,
providing
liquidity
too.
It
could
be
games,
you're
playing
anything
and
so
yeah.
We
could
definitely
solve
without
even
a
user
in
terms
of
The
Advertiser
providing
ads.
We
could
just
look
at
what
they
already
provide,
whether
it
be
entities
they've
got
on
a
Marketplace
and
we
can
take
the
days
from
there
without
them.
Providing
anything
to
us,
I
think,
there's
a
lot
of
ways.
AI
AK
So
that's
definitely
something
I
think
we
didn't
really
have
much
time
to
think
about
the
last
few
days
because,
obviously,
yes,
we
can
incorporate
a
token
right
now,
blah
blah
it
works,
but
then
we
have
to
think.
Okay
do
we
want
our
own
tokens
we
want
to
use
near?
Do
they
have
to
then
create
a
new
wallet?
How
do
they
get
those
funds?
What
do
those
funds
do,
but
I
think
it
may
be
something
to
do
with
I.
AK
Think
a
really
cool
idea
would
be
to
partner
with
the
projects
that
want
to
advertise
and
see
if
we
can
maybe
provide
some
incentives.
For
example,
if
a
customer
is
really
interested
in
their
product,
maybe
they
can
use
our
token
or
use
other
projects
token.
You
know
I
mean
to
get.
You
know,
reduce
trading
fees
on
an
nft
Marketplace
or
giving
them
mints.
You
know
I
mean
on
a
D5
protocol.
It
could
be
through
boosts
in
liquidity,
pools
things
like
that
alternative.
AK
AD
AI
AD
AN
My
name's
Sam-
and
this
was
my
first
introduction
to
web3,
so
it's
great
to
be
on
stage.
That's
crazy,
so
I'm
gonna
jump
straight
in
I'm
gonna
go
very
fast,
I'm,
very
sorry,
so
the
internet
is
responsible
for
3.7
of
all
Global
carbon
emissions.
That's
not
great!
Every
time
we
send
data
from
a
server
to
you,
the
client
we're
transferring
data
which
is
using
energy.
Therefore,
burning
emissions,
especially
in
two
out
of
three
cases
where
the
energy
is
coming
from
an
unsustainable
source.
AN
So
one
way
we
can
solve
this
is
by
reducing
a
website's
page
weight
right
and
for
this
hackathon
I
want
to
focus
on
a
very
particular
group
of
images
on
a
page
that
we
all
hate
and
I'm.
Really
sorry
marketing
is
near
you're
going
to
hate
me,
but
it's
ads
right.
None
of
us
like
ads
and
ads
can
make
up
anywhere
from
between
18
to
70
percent
of
a
page
weights
for
a
regular
web
page,
which
is
a
staggering
amount.
AN
Now
you
might
already
be
thinking.
I
can
switch
on
an
ad
blocker
and
already
do
this
well
you're,
not
considering
the
Creator,
because
they
miss
out
on
the
money
that
they
that
they
would
have
made
from
serving
up
the
adverts.
So
my
problem
statement
was:
how
can
we
use
near
to
reduce
our
digital
carbon
footprint
all
while
promoting
a
Creator
economy,
so
I
built
pomegranate
I'm,
going
to
show
you
with
a
demo?
Hopefully
this
is
going
to
work,
we're
going
to
rely
on
past
Sam
to
run
it
through
cool.
AN
So
you
can
see
here
we're
on
the
public
web
page
I'm
gonna
hit
get
started.
Then
it's
going
to
prompt
you
to
sign.
In
with
your
near
wallet,
you
can
see
it's
requesting
a
full
access,
token
good
stuff,
choosing
an
account
hitting
next
good.
Okay.
Now
it's
prompting
us
that
we
haven't
got
the
pomegranate
extension
installed,
so
we've
installed
it
and
now
we're
hitting
Link
account.
That's
sent
our
near
information
to
Pomegranate,
which
is
up
there
now
and
says
we're
logged
in
which
is
great.
AN
What
happens
is
the
ads
disappear
from
the
page
we've
told
the
page
we
this
person's
trusted,
we
know
who
they
are.
You
don't
need
to
show
them
adverts
anymore,
and
we
start
to
stream
them
a
very
small
amount
of
near
as
compensation
for
them,
not
showing
us
adverts.
We
can
also
see
that
the
numbers
for
carbon
have
start
to
go
up
as
whenever
we'll
be
served.
Ads,
we'd
be
burning
carbon
we're
now,
not
anymore,
burning
carbonate,
releasing
carbon
good
stuff
cool.
AN
Sorry,
Paul
Simon
needs
to
catch
up
with
me,
I'm
going
too
fast.
Now
good
stuff
I
got
10
seconds
bloody
hell,
okay,
keep
going,
keep
going,
okay,
so
to
add,
as
a
Creator
to
add
pomegranate
to
your
website.
All
you
have
to
do
is
add
two
answer
code.
There
was
perfect
tool
because
it's
carbon
neutral,
which
means
we're
not
using
any
carbon
to
send
funds
to
and
from
people.
AO
AN
Knew
Brave
was
going
to
come
up,
so
I
did
my
homework,
so
brave
only
has
62
million
monthly
active
users
compared
to
Chrome's
2.6
billion.
So
Chrome
extension
is
the
perfect
tool
to
do
this.
As
for
the
other
comments,
creators
will
lose
out
if
people
use
an
ad
blocker,
so
it's
kind
of
like
an
ad
blocker
alternative
people
already
pay
for
YouTube
premium
to
not
have
ads
on
YouTube.
For
example,
why
shouldn't
they
on
on
smaller
creators
websites,
but.
AN
That
absolutely
could
be
done
not
on
the
scope
of
the
hackathon.
But
yes,
you
could
have
a
little
that
pops
up
and
says
hey.
If
you
don't
want
to
see
ads,
Do
It
we
pass
down
information
to
the
client
client's
code
can
then
decide
how
they
want
to
execute
it.
It
might
be
to
remove
ads,
it
might
be
to
increase
functionality,
it
might
be
to
show
up
upper
and
all
that
absolutely
up
to
the
Creator.
AI
AN
We
let
the
creators
of
the
websites
deal
with
it.
Basically,
so
we
we
pass
down
true
or
false
effectively
at
the
end
of
the
day.
Right
are
they
are
they
enabled
on
this
or
are
they
not?
And
so
what
content
is
displayed?
What
ads
are
displayed?
What
ads
are
not
displayed
is
totally
in
the
hands
of
the
creator
of
their
website.
AI
AN
AN
You're,
absolutely
right
yeah,
so
how
the
hell
do
you
roll
it
out?
I
think
the
tip
is
to
is
to
Target
a
couple
of
big
creators
right,
get
them
using
it,
get
it
on
their
platform,
hopefully
with
a
large
volume
of
users,
and
hopefully
we'll
start
to
see
some
adoption
I
think
especially
this
the
sites
out
there
like
patreon,
where
people
pay
money
every
month
to
support
their
creators.
They
don't
get
anything
back
necessarily
for
this.
They
have
an
ad
free
experience.
AN
AP
What
we
want
to
build
yeah.
We
want
to
build
truly
decentralized
project
and
with
all
transactions
on
chain.
We
want
to
boost
trading
volume
of
refinance
as
well.
We
want
to
use
deep
liquidity
of
learning
boring
protocols
so
how
it
works.
Let's
imagine
Alice
has
one
thousand
dollars
and
want
to
open
leverage
position
of
near
Long
Distance,
and
here
she
goes
to
our
platform
and
deposit.
AP
AP
What
about
challenges?
The
challenges
was
disconnecting
connected
on
mobile
Finance,
connecting
a
ref
and
connected
our
existing
protocol
and
testing,
especially
testing,
because
there
are
a
lot
of
cross
cross
country
contracts.
What's
next,
where
you
want
to
build
this
product
in
a
nearest
Fusion,
we
want
to
add
additional
risks.
AP
AG
AP
Go
out
yeah,
because
if,
if
she
wrongs,
what
will
happen
in
that
today?
Just
imagine
that
she
put
these
positions
and
near
price
just
dropped
to
a
10
percent.
Our
liquidation
boat
goes
to
a
Smart
contract
gives
call
my
position
is
closed
on
the
near
here.
Smart
contact
repay
your
debt,
okay
and
the
difference
moves
from
your
deposit
to
repair
the
debt
in
full.
So
she
will
lose
this
difference
between
drop
price
and
your
deposit
difference
not
could
be
more
than
her
first
deposit.
AP
AI
AP
Because
if
you
connect,
for
example,
to
Bureau
yeah,
they
don't
allow
us
to
land
to
borrow
more
than
our
deposit.
If
you
own
liquidity
and
we're
lending
pool
on
our
borrowing
pool
on
our
platform,
we
can
afford
it
because
our
smarter
control
it.
If
we
will
go
to
a
bureau
with
this
protocol
and
make
some
connections
and
Implement
like
white,
reliable
solution
to
them.
It
could
be.
AD
AD
AQ
The
issue
we
are
trying
to
solve
is
that
of
rewarding
users
for
lowering
their
CO2
emissions,
and
we
think
this
is
a
problem
that
everyone
faces
like
we've
seen
in
these
presentations,
but
for
these
11
000
companies
in
the
EU,
it's
more
urgent,
because
the
government
will
charge
them
a
fine
if
they
don't
show
that
they've
lowered
their
emissions
year
by
year.
Next,
we'll
see
a
video
of
our
solution
that
we
built
to
address
this
problem.
AL
AL
AL
AL
AL
AQ
Great,
so
we
use
the
newer
JavaScript
SDK
and
what
we're
most
proud
of
is
how
easy
it
was
for
Sarah
to
create
the
new
wallet.
She
didn't
even
know
that
she
was
interacting
with
a
blockchain.
Here.
Is
our
monetization
strategy,
we'll
partner
with
event
managers
charge
them
to
list
their
events,
we'll
have
premium
user
accounts
and
the
future
will
be
the
charge
corporate
for
their
commuters.
AQ
AQ
Yeah,
so
you
can
actually
all
try
today
and
the
example
we
showed
is
the
after
event
at
our
Studios,
we've
listed
all
the
events
for
now
where
we
plan
to
partner
with
near
or
the
web
Summit
actually
in
the
future,
to
add
all
of
their
details,
and
people
will
just
be
able
to
click
on
it
and
join
carpool
offer
carpool.
We
also
have
an
option
to
create
a
meet-up
meet
together
and
then
call
Uber
if
there's
no
carpool
available,
but
again
we're
taking
one
car
of
the
road.
AQ
AQ
Could
be
something,
but
we
are
a
lot
more
limited
right
now
to
specific
non-strangers.
We
don't
want
them
to
carpool
with
just
anyone
they
carpool
with
someone
to
go
to
an
event.
They
have
similar
interests
or
their
carpool.
With
someone
to
go
to
work,
they
already
kind
of
know
that
person
you're
not
with
complete
stranger,
so
it
takes
that
danger
out
of
the
situation.
AF
AD
L
L
AR
AR
A
play
full
screen:
okay,
come
up.
Oh
my
timer
started
all
right,
hello,
everyone,
my
name
is
Derek
Holman
and
I
am
very
proud
to
be
introducing
you
all
to
only
funds.
The
web
3
fundraising
platform
that
helps
to
solve
exactly
one
key
pain.
Point
that
I
want
to
check.
We
all
know
about.
Has
anyone
here
ever
funded
a
project
on
Kickstarter?
AR
Okay,
you
need
to
be
more
generous.
Has
anyone
ever
contributed
to
an
Ico
in
2017
I'm?
Sorry,
for
your
loss?
Has
anyone
ever
minted
an
nft
over
the
past
year
and
has
anyone
ever
been
disappointed
that
the
team
either
completely
disappeared
or
went
in
a
direction
that
was
completely
different
from
what
they
promised?
AR
So
we
all
know
the
pain
we've
either
experienced
it
or
known
somebody
who
donated
money
to
something
they
believed
in,
but
then
they
had
no
power
over
the
funds
once
they
had
been
given.
We
wanted
to
create
a
web
3
smart
contract
that
empowered
the
backers
with
a
dow
government
style,
simple
erc20
vote
where
for
each
near
or
eth
or
dollar,
they
donate,
they
receive
one
vote
and
here's
where
it
gets
fun.
AR
That
is
our
key
value
proposition.
We
are
relying
completely
on
the
idea
that
the
founders
want
to
be
held
accountable
and
the
community
wants
this
mechanism
secured
on
chain
to
create
an
easier
form
of
coordination.
That's
a
little
more
trustless
on
the
demo
behind
me.
We've
showcased
our
live
on
Aurora
test
net
app
that
has
a
create
project
functionality.
You
can
upload
pictures,
set
the
various
parameters
I
mentioned,
and
you
can
also
explore
the
projects
that
are
currently
live,
including
ours,
if
you'd
like
to
donate.
AR
AS
AR
This
is
something
we
have
obviously
had
to
talk
about
a
lot
behind
the
scenes.
The
fine
line
between
donation
and,
basically,
a
Saft
right
like
is
this
erc20
Limited
in
scope
to
the
initial
funds,
or
does
it
then
become
a
tokenomics
platform
where
you're
saying
something
like
this
is
10
of
initial
Supply
blah
blah
blah?
Those
are
features
that
we've
talked
about,
but,
frankly
we
need
to
do
more.
AI
Yeah,
the
second
part
is
much
more
complicated,
especially
with
the
sourcing
good
projects
for
actually
seeking
for
this
stuff.
So
in
case
you
are
you're
aware
of
angelist
model.
There
are
specific
people,
Syndicate
leads
who
are
actually
having
these
angels,
who
are
actually
having
the
access
to
the
projects
who
are
seeking
for
funding
right.
So
it
is
not
that
simple
to
to
advertise
your
platform
for
them
to
come
in.
V
AR
AS
AF
AR
AR
We
haven't
even
talked
token
incentives
right
and
that's
intentional,
but
one
thing
I
wanted
to
add
is
that
we're
playing
more
in
the
git
coin:
public
goods
funding
space,
where
it's,
let's
give
it
up
for
git
coin.
We're
thinking
about
things
like
you
know,
matching
pools
quadratic
to
improve
just
beyond
linear
investing
and
I
just
wanted
to
mention
that
it's
very
common
in
the
Bitcoin
space
that
once
a
project
has
its
C
legs,
its
funding
has
been
out
six
months
or
whatever
that
they
retroactively
airdrop
to
the
people
that
funded
them.
AD
AD
AT
AU
Hello
good
morning,
everybody
who
would
like
a
thousand
years
as
a
reward
right.
We
all
love,
rewards,
but
who
would
like
to
write
a
thousand
lines
of
code
for
that
reward.
Anyone
just
like
two
people,
that's
exactly
what
we
are
trying
to
solve
with
X
to
earn.
We
want
to
make
it
really
simple
for
people
to
add
rewards
to
their
apps.
The
way
we
do
it
is
that
you
create
a
Rewards
program
on
our
dashboard.
AU
AU
AU
We
deploy
this
as
a
smart
contract
on
the
Chain,
so,
as
you
can
see
near
con,
2022
has
been
deployed
and
while
paying
it
out,
all
I
need
to
do
is
import
an
SDK.
As
you
can
see
on
line
one
and
then
just
use
the
give
rewards
function
to
pay
my
users,
the
idea
is
to
make
it
extremely
simple
for
developers
to
start
using
rewards
in
their
apps
without
having
to
worry
about
a
smart
contract
code
without
having
to
worry
about
web
3
code,
so
that
a
lot
more
apps
can
be
onboarded
with
Rewards.
AU
So
what
we
believe
in
I
think
the
first
and
foremost
is
that
web
3
needs
to
feel
like
magic.
It
does
not
have
to
be
so
complicated.
It
does
not
have
to
be
so
many
Concepts
floating
around
and
being
confused
all
the
time.
The
second
is
rewards
are
the
future
of
consumer
Apps
rewards
or
incentives
are
going
to
align.
People
like
never
before,
and
the
third
is
always
be
truly
decentralized.
If
you
notice
I
did
not
mention
an
API
key
anywhere
in
my
presentation.
That's
because
we
have
none
right.
AU
Everything
works
without
an
API
key,
so
you
truly
own
your
contracts.
You
truly
own
your
reward
programs,
and
you
could
delete
it
anytime
that
you
want
to
delete
it
and,
above
all,
the
most
important
thing
that
we
believe
in
is
that
everything
should
be
made
as
simple
as
possible,
but
not
simpler.
Thank
you.
AU
So
we
ensure
that
only
the
program
Creator
can
trigger
the
give
reward
method
on
the
subcontract.
So
we
assert
that
the
person
who
is
sending
the
transaction
is
always
the
owner
of
the
program
and
on
their
app
side
because
they
are
putting
the
functions
in
their
code
they're,
going
to
ensure
that
you
only
can
trigger
it.
Once
you
have
done
an
action
and
so
forth.
AF
AI
AU
AD
Thank
you
so
much
all
right.
Thank
you.
We're
not
the
big
round
to
the
floor.
So
without
nine
finalists
of
the
fishing
competition
judges.
You
can
have
your
conversation
and
while
you
add
it,
you
will
have
like
fun
5-10
minutes
to
get
on
the
main
stage
because
you're
late
to
everything,
I'm.
So
sorry,
but
while
they
have
the
conversation,
we
will
actually
have
the
opportunity
to
have
an
open
mic,
because
I
know
that
a
lot
of
projects
didn't
have
the
opportunity
to
pitch
here.
So
yeah
right,
you
did
Pitch.
AT
AT
The
point
is
here
that
in
in
Europe
it's
a
huge
Market
of
these
loyalty
programs,
it's
38
billions
per
year
and
it
grows
like
five
percent
per
year.
It's
really
like
real
business,
it's
a
near
could
integrate
so
yeah.
Also.
The
technical
point
is
here
that
we
don't
lock
our
money
when
we
generate
a
QR
code.
So
only
when
user
claims
that
money,
we
lock
them
and
it's
a
kind
of
mass
adoption,
because
user
can
buy
something,
for
example,
and
then
scan
QR
code
and
he
creates
an
account
you
understand.
AD
AV
AW
Hugo,
a
Pioneer
I've
been
with
40
acres
down
since
the
beginning,
and
here
we're
going
to
tell
you
guys
about
some
of
the
things
that
we're
doing
out
here.
I
think
it's
extremely
revolutionary
revolutionary.
Where
we're
what
we're
doing
we
have
mad
use
cases
and
we're
going
to
go
ahead
and
tell
you
guys
about
that
now.
Yeah.
AV
So
40
acres
now
is
a
professional
resource.
Collective
focused
on
onboarding,
more
people
of
color
into
the
web
three
space
through
three
things:
okay,
I
want
y'all
to
remember
this.
It's
called
e-cube,
educate,
Empower
and
engage
because
right
now
a
lot
of
us
are
cognizant
of
what's
happening
at
web
3,
but
there's
a
ton
of
people
outside
that
have
no
idea
what
a
smart
contract
is
and
we
need
culturally
relevant
education
to
help
people
understand
that
because
it's
going
over
people's
heads.
AV
AW
Yeah,
so
at
our
Dow
we
kind
of
take
a
guild
approach
where
we
have
different
initiatives
between
each
Guild
and
our
main
approach
is
centered
around
the
commons
right.
A
common
goal
of
the
only
way
forward
is
together
because
I
don't
know
whether
y'all
understand,
but
a
lot
of
my
community
has
been
left
behind
in
this
Innovation.
So
when
people
are
looking
for
use
cases
you're
looking
in
the
wrong
place
right
so
with
our
whole
force
Guild.
AW
What
we
did
was
that
we
picked
seven
previously
slave
dance
populations
within
the
south
of
the
United
States,
and
the
way
that
we
pick
those
Seven
Cities
is
that
we
notice
that
not
only
are
these
places
resource
deserts,
but
they
also,
if
you
look
at
just
the
data
behind
it,
education
is
lacking
there.
People
don't
even
have
access
to
books
and
laptops.
AW
So
one
thing
that
we're
doing
right
now
is
that
we're
actually
in
get
coins,
diversity
and
equity
and
inclusion
round
helping
to
get
people
free
laptops,
free
books
and
incentivize
nft
education
to
where
that
they
can
easily
be
onboarded
into
a
place
that
feels
more
like
home,
because
I
know
it
was
extremely
hard
for
people.
You
know
that
look
like
me
that
look
like
us
to
come
in
here
and
feel
welcomed,
which
you
know
a
lot
of
the
times.
It's
not
everybody's
fault.
AW
AV
I
think
last
thing:
real,
quick
before
you
give
us
Applause
appreciate
that
we
do
have
a
get
coin.
Grant
active
right
now,
as
Derek
was
talking
about
it's
a
dollar
in
a
dream.
I
know
everybody
got
a
dollar
in
their
wallet
right
now
and
because,
if
you
donate
one
dollar
to
our
grant,
we
get
96
dollars.
So
we
would
really
appreciate
it's
called
40
acres.
Now.
AD
AX
Will
hold
it
really
short?
Maybe
you
can
do
it
30
seconds?
Okay,
so
we
are,
we
have.
We
are
building
a
platform
where
you
can
own
trade,
govern
and
crowdfund
exclusive
items.
Fractionalized
items
like
Ferraris
who,
who
in
this
room
has
a
Ferrari
one.
You
have
a
Ferrari,
you
want
one
he's
given
Ferraris.
AX
AC
All
right,
John,
Stokes
with
space
style,
we're
democratizing
access
to
space
and
bringing
space
launch
to
Wyoming,
first
space-based
out
LLCs
and
their
business
designation
framework.
What
we're
working
on
here
at
the
hackathon
is
a
concept
we
defined
as
liquid
membership
mechanism
to
opt
in
and
out
of
our
organization
by
purchasing
our
membership
nft
and
automatically
adds
you
to
our
Dow.
AC
N
N
Basically,
what
what
happens
on
blockchain
today
is
that
every
transactions
spoke
in
some
public
ledger.
So
anyone
can
see
what
happens
on
blockchain,
so
we
have
decided
to
work
in
a
protocol
that
will
help
to
enhance
privacy
on
top
of
blockchain,
because
we
cannot
talk
about
cutting-edge
technology
such
as
defy
when
the
system
behind
it.
The
blockchain,
is
actually
worse
than
the
traditional
system
in
terms
of
privacy.
So
our
team
has
been
working
in
building
some
ZK
technology
infrastructure
for
a
year.
N
So
what
we
need
to
do
is
to
prevent
these
Bad
actors
from
interacting
to
our
protocol,
and
so
we
have
created
a
blacklist
white
list
mechanism,
so
only
white
listed
accountants
that
got
authorized
by
our
partners
will
be
able
to
interact
with
the
protocol
and
blacklisted
accountant
won't
be
able
to
interact
to
it.
This
is
basically
what
we
have
built.
We
have
a
full
functional,
functional
app
on
testnet
working.
You
guys
can
test
it
and
with
deposit
and
withdrawal
funds
on
it.
Thank
you.
AD
AM
AM
AS
So
why
don't
we
have
Ubi
Universal
basic
income
on
near
blockchain?
Why
don't
we
have
one
person
one
vote
on
near
blockchain?
Why
don't
we
have
Learn
to
Earn
on
the
blockchain?
Why
don't
we
have
fair,
icos
and
fair
air
drops
on
the
blockchain.
All
have
the
same
answer,
the
same
question,
the
same
answer
and
it's
civil
attacks
and
how
do
you
prevent
civil
attacks?
You
have
proof
of
personhood
on
the
blockchain
we
can
solve
it.
We
have
solved
it.
AS
AM
AD
AM
Okay
right
so
anyway,
follow
up.
Follow
us
up.
We
created
an
App
proposal
for
standardized
the
interface,
so
different
protocols
can
query
or
register
the
classes
and
yeah.
We
can
have
basically
a
network
of
classes
which
could
Define
us
as
a
human
and
with
that
Implement
Ubi
Implement,
Fair,
airdrops,
Implement,
Fair
Financial
protocols.
AD
AF
C
AF
And,
like
all
top
10
projects,
I
mean,
as
you
saw,
were
really
cool.
I
mean
they're
trying
to
solve
problems.
They
have
kind
of
some
solution
that
you
can
use.
You
can
try
and
I'm
excited
to
see.
All
of
them
live
to
be
clear,
but
I
think
given
our
goals
on
sustainability,
given
our
focus
on
kind
of
to
bring
better
experience
to
the
user,
we
we
found
that
pomegranate
is
indeed
the
top
project.