{"id":"-dykaLrj8Bo","title":"NEARCON 2023 Live Stream | Day 2 - Layer One Stage","description":"Check out all the amazing talks of #NEARCON HQ stage (Convento Do Beato) Day 2  with the timestamps below: \n14:44 | Welcome to NEARCON Day 2 - Martin Best - NEAR Foundation\n\n18:19  | Infra Ain't Easy: Connecting the Multi-Chain World - Yair Cleper - Lava Network, Thalita Franklin - Chorus One, Louis Liu - Octopus Network, Chris Sharp - Blockdaemon\nGleb Dudka - Greenfield\n\n46:10  | SK Telecom's Leap Into Web3- Sehyeon Oh - SK Telecom\n\n1:02:58  | MiCA Under the Microscope: Is It Enough to Entice Crypto Builders? - Josh Klayman - Linklaters LLP, Mary Beth Buchanan - NEAR Foundation, Nuno Lima da Luz - Cuatrecasas, Joy Macknight - The Banker\n\n1:29:34  | Exporting Innovation? How US Crypto Policy Impacts Everyone Else - Lisa Loud - Secret Network Foundation, Teana Baker-Taylor - Circle, Dave Rodman - The Rodman Law Group\n\n2:28:44  | From Concept to Practice: NEAR's Path to Decentralized Development - Vlad Frolov - NEAR, DevHub, Nneoma Kanu - NEAR DevHub/StableLab/COLDS Collective, Ori A - NEAR DevHub, Joe Spano - ShardDog / NEAR DevHub, Maria Yarotska - NEAR DevHub\n\n3:01:49  | NEARly Decentralized? Principles That Cross-Chain Builders Must Remember - John Yarwood - UDHC\n\n3:19:19  | What to BUIDL Next on Calimero and BOS - Sandi Fatić - Calimero\n\n3:33:11  | Urbit: Closing the Loop on the Open Web - Sam Henriquez - Urbit Foundation\n\n3:56:53  | Building at the Intersection of Web3 and AI - Julien Bouteloup - Stake Capital Group, Olga Feldmeier - Smart Valor, James Tromans - Google Cloud, Matt Stephenson - Pantera Capital, Subin An - Hashed\n\n4:19:28  | AI + Blockchain = Future of Work - Momo Araki - NEAR Tasks\n\n4:33:26  | AI and Crypto: The What, Why, and How - Niraj Pant - Stealth AI Startup\n\n4:47:04  | Generative AI's Role in Shaping the Next Frontier of the Open Web - Alexander Skidanov - NEAR\n\n4:56:53 | AI on NEAR: The Future of Work and Governance -  Illia Polosukhin - NEAR\n\n\n5:16:31 | AI x Blockchain: Illia Polosukhin and Mike Butcher in Conversation - Illia Polosukhin - NEAR,  Mike Butcher - TechCrunch\n\n5:54:06 | Five Things to Know About Web3 Fundraising in Europe - Samantha Bohbot - RockawayX\n\n6:09:41 | What We're Backing: Global VCs on New Funding Trends - Jon Geenty - Accomplice VC, Kartik Talwar - a_capital, Samantha Bohbot - RockawayX, Lex Sokolin - Generative Ventures, Lyllah Ledesma - CoinDesk\n\n6:44:41 | Making the Case for Building All Apps on the Open Web - Eric Winer - Pagoda\n\n7:04:03 | Pagoda in Conversation With Brave-  Brendan Eich - Brave Software, Eric Winer - Pagoda\n\nSocial Links\n\nJoin NEAR's community: \nWebsite: https://near.org/ \nTwitter:   / nearprotocol   \nDiscord: https://near.chat/ \nReddit:   / nearprotocol   \nMedium:   / nearprotocol   \nBlog: https://near.org/blog/ \nGitHub: https://github.com/near https://github.com/nearprotocol \nDev Docs: https://docs.near.org/ #Blockchain #FutureisNEAR #NEAR #nearprotocol #nft #dao","channel_name":"NEAR Protocol","published_at":"2023-11-09T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/-dykaLrj8Bo/hqdefault.jpg","transcript_text":"oh you oh e we will begin in 5 minutes please find your seats we will begin momentarily please take your seats and silence your cell phones please welcome our MC to the stage near foundations Martin best you can tell there was a very very good party last night looking at the the waves of empty seats and people starting to get their coffee well I think you guys if there was a special Encon prize for the people that made it on time you should definitely be winning a large Bounty uh speaking of Enon let's do a bit of housekeeping before we start talking about the amazing guests we're going to have on today's panel it will also give one or two moments for some of the other uh attendees to grab their coffee and remember who they are and where they are and to come into the L1 stage let's just talk quickly about uh about how you can earn Encon some people were asking yesterday uh about the magic QR code here on the screen and when is it going to be well guess what we're not going to tell you because if we tell you then you're only going to come and scan it to earn your extra encom so therefore look out for it I'm going to be here all day or at least till 2:30 I will be calling it out when the QR code will be on the screen you can scan it and you can get some more money now speaking of Encon and the swag uh there's been many people looking very glamorous walking around in their new hoodies their t-shirts drinking from their water bottles uh some interesting news number one those stocks are running low so you need to make sure that not now but in the break you go over and you use your Encon exchange it for some swag in the entrance area I'm sure you know where it is by now and we have a special offer for you some of the t-shirts are now reduced to 10 Encon so for the slice of one pizza you can look as glamorous as this in one of these t-shirts so think about that ladies and gentlemen final thing talking about lunch some of you may have spent all of your con yesterday and you're getting worried thinking how will I go to the food truck how will I buy that one slice of pizza well you have two options firstly you can look around and find someone smaller than yourself steal their phone scan it buy your pizza and return it to them but that's not the values of the near ecosystem is it that would not be very friendly so the second option which is actually much much easier is for you to go around talk to all of our sponsors and partners engage with them learn from them talk to them all all of them have got secret stashes of Encon not so secret really you just give your wallet scan it and then you're able to earn some extra Encon and that will give you that slice of pizza or that t-shirt or that water bottle that maybe you were just saving up for and haven't quite got yet so I can see we're now getting uh some of the people who last night were dancing furiously on the the Dance Floor gradually coming in good evening have have a nice time those grape shots were powerful weren't they so um we're going to kick it off with really exciting panel I just have one request for those of you in the room starting on the TU sorry the Wednesday morning the day after or whichever day it is now uh starting the day after the opening party is quite a difficult gig for those guys and for those of you that have come I just ask you to give a really Fierce Round of Applause and a few whoops screams positive ones by the way not negative ones uh try and get them pumped up because they're going to be talking about something that definitely is not easy and that's connecting the multi chain world with infra and it's something which is a really important topic to discuss so um I would like to bring to the stage um our lead moderator today which is none other than Mr gleb dudka uh hello everyone good morning yeah good morning to all the survivors of the Afterparty yesterday uh yeah so as uh as the MC already mentioned we are starting off pretty heavy in the topic with the topic of infrastructure and why it ain't easy uh and yeah I would like to uh introduce myself and the panel and the panelists will introduce themselves so I'm I'm glb dutka I'm from Green Greenfield Capital we are the European based uh European based crypto VC um we also run our own valid dator so we try to support the our Port course in a various ways including running and providing infra for for them and uh yeah I would like to the panelists to introduce themselves let's start with Chris sure hey good morning everyone Chris sharp I'm CTO at block demon uh hello everyone um uh Louis from octopus network uh octopus is is a I would say a complimentary infrastructure in near ecosystem we serve application specific blockchain by providing share security and uh inability support hi everyone good morning I'm talita I'm part of the cor one uh infrastructure provider so basically specialized in validator nodes we run 47 networks nowadays so I think this panel is something that's very relevant to uh to start discussing as the multi chain Road uh takes over hello everyone uh good morning exciting to be here uh my name is yir klepper I'm a co-founder and CEO at lava Network in lava we building a modular infrastructure layer uh that can support any RPC API in any chain okay awesome it's it's great to have you guys um yeah so let's let's let's dive into the qu into the questions and topic right away so the first question is like we are in an increasingly modular increasingly fragmented blockchain world we have right now large debates around the modularity like the modular blockchain stack versus the the monolithic stack as well as the number of l1's is uh and as well as l2s is constantly growing so I mean that definitely possesses a lot of uh a lot of challenges for infrastructure providers so I I was wondering how how do you guys deal with that increasing number of connections because I mean all of these layers and modules they need to be interconnected with one another and that creates friction so I was wondering how do you in your company kind of deal with that and then what challenges do you believe this fragmentation uh poses towards like the users of these protocols or your protocol uh your company um let's start with maybe Chris yeah sounds good um you know we have distinct lines of business obviously we have our nodes business and I would the question differently there than I would for our API business for on the Node side of things um really automation automation automation making sure that we can get updates apply patches and stay current so that um you know these networks are are as secure and as as operationally functional as possible on the API side of things um you know really building building things from a platform perspective and making sure that as new protocols come come on board where there are similarities there's less and less work for us to do over time time um on the wallet side of things um again it comes comes back to then building off of the you know the work that we've done on the API side of things so for our Universal API once we've added a protocol there it should then become much easier to integrate from from a wallet perspective so that's kind of our our approach and then I would say finally um you know just staying very current with uh evolving uh Technologies you know whether they're you know shared uh sequencer networks or or other kinds of things that you know effectively make um make some of the the the the bridges the exchanges the dexes the the defi stuff you know sort of communicate with one another more seamlessly makes sense what about you guys L okay uh so I I I think we are still uh in the process of uh I say blockchain exposion and uh in the in the coming years we will see um hundreds if not thousands public chain uh app chain middleware chain execution layer da layer but in not not necessarily I will not name this trend as fragmentation it's about exploration since uh we uh there is only uh very few use case has been po to be relevant in terms of web three or open Bap we need to explore much more uh field to make web three a real thing and then and be frankly we don't know what's the next killer app and the first thing we need uh a lot of different uh different infrastructure uh Diversified blockchain or even some some other things Beyond blockchain such as neutral uh uh sematic and orbit this kind of decentralized infostructure to make additional uh use case happen in the decentralized uh contest and but uh but uh uh if there are let's say thousands of blockchain it's not that security since uh considering how many device tcpip has been connected get together if we providing we have a open uh comprehensive standard on intern ability we are we will be okay that that is why we uh uh we we are uh we we we work on IBC I think it's the only open comprehensive inability stack around the place and uh we are about enable IBC on year and uh we partner with is secret Network to be uh uh to to to launching a real Bridge it it will be the first one uh for CER chain to connect with near y IVC and why we hope IBC will be perversive and all the blockchain and decentralized infrastructure will be connected with each other in uh trustless way understood and with lava how how do you handle that increased fragmentation yeah no I think what I can add to uh the important things that was saying here is that the we see fragmentation in the middleware layers and I think that um uh you know the concept of blockchain being serverless uh towards ensuring the same uh um you know the back end of the same state um within the different uh providers I think what we looking now is the increasing adoption of more and more um uh rollups and uh and blockchains and at the end of the day um Lava is addressing that in three different ways first of all we building a modular infrastructure is something that uh incentivizing the community to take any spake any new upcoming chains and together with our existing amazing partners for example block demon uh we are able to tackle quickly the entry point for these blockchains the RPC and API uh level uh the second part of that is that we creating kind of a incentive mechanism that makes sense that every um every vendor every provider is able to get rewards according to the quality of service and we see that a lot of lockin uh vendors we have today in uh blockchains uh some some some of the contracts were made one year ago even more um you know when when we had all in the bull run and the reality has changed so I think if we are able to be um to give a more flexibility to the chain and focus on RPC becoming a commodity but making it the quality of service the rewards based on the quality of service um that going to change and scale up much better the world we live in what do you guys think with corus one yeah um I think when it comes to node provider the biggest challenge with the fragmentation of the ecosystem is how you choose the ecosystems that you will support yeah uh it's becoming um mostly impossible I would say to support all layer ones and all decentralized networks that are not even blockchains um so I think this was this would be the the biggest challenge and also when it comes to specializing what the service that you offer for example we try to be active on governance so you need not only to run the software of that blockchain or that decentralized network but also to have researchers follow following the ecosystem what is the the particularities of each ecosystem and the main technical challenges that are being discussed that is completely different in the cosmos ecosystem and in on Theon ecosystem for example so I think this is a a big big challenge for us and I would still like to mention a third one that is the user experience because as a a node provider we although we support 47 networks the user experience is still not uh as smoothest that it could be in my opinion for example when it comes to um the user wants to know how how often the rewards are paid or there are just so many wallets so if you want to if you hold many different assets you have all this uh different systems and different wallets that you need to manage and that you the rewards that you need to claim and restake so I think this is also something that could be improved on when it comes to to staking yeah right I think I think just to add one thing talita just touch a very interesting concept about decentralization and we all believe we all here also for decentralization but I think there is a bit misconception that decentralization bring uh lack of scalability uh much more complexity and you know it's something that uh us as first com to the ecosystem to blockchain to web 3 uh only two two and a half years ago we see that uh decentralization is the is the tool is not the end goal because obviously ly at the end of the day if it's on the expans of scalability and complexity it doesn't make any any sense yeah definitely that's not a goal in itself right it's a means to an end uh yeah um from the investor standpoint we often times look at like what modes and what defensibility and stickiness does the project or protocol have and I was wondering like it's pretty guess we know some metrics for like stickiness and mode I guess in terms of like more consumer facing protocols like defi we can look at tvl there's like I don't know active users there's a bunch of a bunch of bunch of kpis and I was wondering what do you in your line of business think like how how do you think about your mode like your stickiness of your users of your clients and then kind of what kpis are you using like what kpis would you think are the most important for you and then how do fees kind of fit into those because I feel like with infrastructure sometimes you start kind of as a free offer but then then over time once you g gain some stickiness you start charging fees which might then make you not as competitive so I was just wondering how you guys think maybe uh maybe we start with uh with octopus oh yeah uh I think apparently uh the mode is there for Success uh particles uh for example uh we know that uh their uh eim they get billions of dollars polical Revenue uh a month and but if I F out uh etherum it will worth nothing so I think uh uh the motor protocal uh is composed of uh two major part one is Network effects uh for example uh octopus Network we facilitate uh the share security from near reinking to uh achain and so there is the provider side if there is more near holder engage with uh raking that will be easier for achain to get cost effective security and if there is more achain who join this network they will provide uh more opportunity for near Staker to to gain their their their rewards so it's a two side in M have uh apparently have uh Network effects the second part of the mode is about I would say confidence or fath uh just means you know application developer they choose their infrastructure very cautiously and if there if the infrastructure feel they uh effort will will will will go meaningless and uh so if an infrastructure whether it's blockchain or or metalware it has been there for years and with good maintenance and uh uh reputation a lot of usage adoption economic activities there we can safely buy that it will exist in the coming years so Lind effects and uh it will give this uh protocal amount to the others got it and with course one how how do you view your mode with towards like the protocols or towards the users well I think cost efficiency is something that will stand out as competition has been increasing a lot on the infrastructure side in the last couple years I would say and also the way that uh the quality of service in general that you offer not only on when it comes to uptime of the infrastructure but also everything else that is related to to running uh the notes so for example on the research side as I mentioned that is something that we we try to explore um a lot and although I think what's also relevant when it comes to the fee part is that we have a cost so although the competition can increase a lot there is a minimum that you need to charge because of your fixed cost in dollars that's basically servers and salaries so yeah I think mostly the cost efficiency would be something that I believe um would um create this uh advantages for for the players in in the infrastructure yeah got it as an another professional node operator Chris yeah sure thanks um so on block team and I kind of would separate it maybe into two broad categories um the first category would be just you know our corporate structure right like we we didn't have to but we have financially audited accounts we're ISO certified right and so that is going to be the kind of thing that if you're you know trafi maybe a big Bank um you know really globally that's going to be I think for us something that we look at as as a bit of a moe um uh because you you want to make sure that the company you're doing business with today is going to be in business tomorrow as well right um and that's something that we didn't have to do but we chose to do and it cost a lot and a lot of time the audits are are kind of kind of hard to do every year but but it's important for us and and our partners on the second side of things I would say uh innovating on the technology side of things um you know we've got an Institutional NPC wallet uh with uh a user experience that allows you to do sort of oneclick staking and if you think about all of the things that are involved in making that work you have to have you know an you know for it to be on Prem that's hard for it to be NPC that's really hard then you've got you know the API that I mentioned earlier that is is sort of servicing that it's available for everyone else we eat our own dog food um so to speak um and and then of course the you know rock solid 49es of of nodes and and everything that's powering those apis and so it's really a series of things that we that we bring to the table we think you know creates a competitive Advantage got it yeah here yeah I think um you know just just to add a bit for um you know how how love see the picture and you know my personal belief I think we can divide that into four different things we see Community we see uh integration and compossibility uh we see the brands and obviously uh the fee or even the new data primitive that we we thinking now um Community is uh the bread and butter of uh of of the topic right because if you know how to harness the community if you know how to incentivize them um um the rest will come right this is why I think most of you here uh and this is why you like to be here and near um the second part is uh integration and compossibility and I think what was important for us from the GetGo is to make this modular infra that is going to be Plug and Play to every ecosystem in one hand able to support the you know the 1,000 rollup and N chains and and at the same time to use the standards so we laa integrated ejs webd um uh uh coam um and we see that if we give one subscription access to all web 3 basically you know developers is focusing on the building they're not focusing on if they want to expend to new blockchains who going to support them and that's lead me to the third point that uh is about the usability the user experience how how easy is to go multi-chain because as you see announcement yesterday uh um by Ilia for example with polygon and near and there's a lot of integration between the different chains at the end of the day you need to give the the devs the uh flexibility to go between one uh chain and another and you know our vision as a new data primitive says that um if you have the data committed and backed by uh Financial commitments so you can trust it if you have strong partners that already um were an experts in specific ecosystem that's what we working for with block demon for example uh the scale is inevitable uh and that's my two sense got it um yeah let's let's try kind of a little bit of a wild angle here uh what it like there's increasing talk talk right now about like enshrining different services or different infrastructure protocols into the core like base layer one so with ethereum that would be like discussions whether ethereum should implement or like enshrine liquid staking into the core protocol and that would potentially put some of the kind of infrastructure protocols which are higher in the stack under pressure of just maybe like being integrated by respective L ones so I was wondering do like I was wondering does someone of you think that some of your core business you're you're running would be in danger potentially long term and how would you and how would you think about this who who wants to take that one well I can take it um on the Node operator side there is one dimension that's uh the more different binaries and softwares you have to run the more complexity and different things that you need to monitor so so this is something that this is a dimension that would create an incentive for having more things in the protocol although I also believe that it might be risky because the more complexity you have on the layer one for example the more chance you open for having an attack or a bug that's complex and it's harder to predict and should treat if if something happens so there I I think I'm personally I'm a fan of the protocol minimalism where I think layer one should also should only mostly focused on consensus and execution and yeah so that's my my personal take on that got it um I think we are running a little bit out of time so I just wanted to finish the panel with some uh likely spicey takes so I was wondering if you if you believe something about blockchain infra which is like you believe is not it's not really common sense it's kind of somewhat controversial so let's start with yeah maybe um so you know in the last so when we started we see that there is a natural evolution in blockchain infrastructure everyone at the beginning was running their own noes um and when blockchain adaption grew up it doesn't make sense right to scale it up uh second evolution was the centralized provider really reducing eliminating the barer to entry to all the blockchain and I think that the conception now uh that we like to talk about in lava is the modular infrastructure something that as talita said is all about incentives uh some of the investor told me it's like uber for nodes right we all remember all the shared economy uh some of them I support some of them less uh but uh at the end of the day it brought something new it brought something that adapting to the Dynamics of the new world it's adapting to the dynamic of the next uh Bull Run and yeah I think the next the next Bull Run will be all about incentivizing the community in order to help you build a much bulletproof and performant infrastructure okay got it I think we have time for one more controversial take that does does anyone want to take take it I will take it uh so uh we work on the field of app chain application speciic blockchain and uh people think that uh Layer Two or layer three will replace app chain since they inherit uh security from layer one but I think the basic contradiction is not uh roab versus AP it's about general purpose versus application specific so for any INF con structor if it's general purpose it can accommodate lot of use case but for any specific use case I can uh make a better infrastructure to fully optimize for this use case so it's up to the developer to choose public chain or app chain and uh the app chain can be let's say another way to uh there's another way for app chain let's say build on Cosmos SDK to inherit security from layer one and uh it's much mature than Layer Two since all the lay to as there there is a centralized sequencer centralized and centralized pool so I think for any uh application specific Choice uh let's say achain Cosmos SDK would be a a better choice than uh rups so this is my point okay cool yeah I think we are out of time it was it was great having you guys on the panel really pleasure meeting you thank yeah thanks thanks everyone thank you for listening ladies and gentlemen thanks a lot there to gleb for uh for hosting that uh really tough nut to crack for for web 3 and I can see that one or two more people have struggled out of bed and got down down here um let's just talk quickly about something really really exciting that's been happening um building momentum over the last year or so and that's the growth of near APAC uh there some of you hopefully will have been to our event in APAC a few months ago it was insane we're talking tens of thousands of people there uh attending that event and last night I had a moment around 11:00 p.m. where I started to think should I go home I had no energy and then I was surrounded by members of the near Korea Hub and suddenly I was reinvigorated with this passion and energy and enthusiasm so I just strongly encourage you if you see any of our near APAC colleagues go and chat to them because they are just coming with innovation ideas and excitement so we've got a really interesting speaker continuing that theme uh she arrived here in Lisbon on Monday interesting uh story about her she was just telling me backstage she is extremely good at speaking in German as well unfortunately not all of you guys are so she's actually going to bless us by by speaking in English and this is going to be about SK Telecom and their leap into web 3 so delighted to bring on to the stage Miss seon yeah hello everyone yeah so thank you for being here uh today and my name is seano I'm in charge of new business development based on the blockchain Technologies SK Telecom in Korea today I like to about SK telecom's live in web3 for the vision of web3 uh invisible web uh so moment so so yeah here yeah I start my presentation by giving a short introduction SK Telecom and our journey to web stre then I show you T wallet the crypto wallet we are developing as a gateway to decentralize the economy after introducing taport the nft marketplace we launched last year I'll talk about our collaboration with Neo Foundation finally I'll share my thought on the future of web stre as we all together moved forward so let's begin by diving into skt's Journey towards web3 SK Telecom South Korea's leading Telecom company with a market share of more than 48 percentage has a proud track record of generating stable revenue and leading customer satisfactions our Evolution has recently steering embracing Ai and integrating it our core Telecom services and re Imaging customer experiences through this effort SK Telecom aims to become the leading AI company globally while focusing on AI we have been working to create uh business opportunities by building blockchain infrastructure and exploring the markets initially we adopted blockchain infrastructure from the perspective of Technology iCal innovation in December 2018 we established a dedicated blockchain group at SK Telecom then we designed new service model using decentralized identifier and launched the mobile credential service based on selfs servering identity we have also been exploring news cases that could be synergized with skt's current digital identity Authentication and carrier billing based Mobile payment services and recently we started preparing for the crypto wallet which is sure to become the common web three in this chapter in the uh I will talk about skt's web Vision which is broadly characterized by the keyword invisible web three connecting possibilities uh breaching the Realties first we aim to bring the convenient web 2 ux into web3 and on board our existing 30 million subscribers to web3 Services almost all our subscribers will have their own wallet address within two years I hope and we are working connect our metabus service with blockchain infrastructure and also create the Synergy uh synergies between digital and physical customer satisfaction we believe that Financial Innovation enable us to realize the core values of web3 so we have partnered with some financial institutions to explore Market opportunities next we will discuss SK recently launched T wallet in this chapter I'll talk about some of the features of T wallet which includes kyc CQ MPC chat and Bridge functionalities tallet roles as digital asset commen Center and the DF Gateway transferring and swapping digital assets is a worldless essential features primarily users can manage their own native coins and nfts on etherum and polygon networks other evm based mainess will be supported gradu and we have some progress to support non ebm chain like Aptos KET does not yet support stos and cbdcs but we have partnered with the number one secret companies in Korea that is preparing for the stto platforms and will be reviewing t-w integration for Technical and legal issues we are we are also in discussion with major Commercial Bank to support CBD based stable coin and we support wallet connect to access various DF easily and we plan to expand the number of DFS that can be accessed directly within T wallet T wallet's biggest uh selling point is that it's a web- based wallet and has a kyc based signup process there is no download required and it can be accessed through web browser whether it's PC web or mobile web since it supports inep wallets thef players can ED T wallet in their apps or on their webbased services Services already we integrated T into if SKT metav services with millions of Maus and we have one person one wallet kyc policy to comply with financial institutions guidelines in Korea residents in Korea can sign up through an identity authentication Services called pass and residents outside of Korea can sign up through their passport deliver driver's license and residance card so Korean newer can sign up in less than 10 second after signing off users can view and transfer digital Assets in an intuitive ways Ted is implemented based on secure MPC Technologies to minimize the risk of custodial wallets while eliminating the inconvenience of non-custodial wallets in t wallet two of the three key Shares are needed for signing and if the key shares stored in the client browser is lost it can be restored through the recovery server operated by third party users don't need seed braises they just need to go through the identity authentication process to restore key share additionally users can increase wiress security by setting different password for each device and browsers secure MPC gives tet and over hambling advantage over other wallets T wallet CH is working on XMP with the T wallet chat users can send secure messages and transfer digital assets on a oneone basis and this one on chat service will be evolved to want many messaging and group chat Services TD is a cross chain asset transfer services that starts with transferring nft nfts minted on escap Main need to etherum or polygon we plan to evolve the bridge service to support other mainess in the near future next I'd like to introduce SK SK toport yeah at taport we want to focus on three areas these digital art metaverse entertainment and the membership nft Market tapos nftd artwork can be displayed in both online and offline galleries in the metav service we plan to offer items such as avat costumes and lens as nfts taport also has music nfts contain music copyrights the third target is me membership nft which are expected to grow in the future membership nfts for the high and Community interested in art collection and uh private Equity investing are already being experimented with we are also considering web Community nft to that end we recently partnered with fact block the organizer of Korean blockchain we we planed further explore and develop nft business cases through various initiatives in these three areas this is toport main page similar to other nft marketplaces you can see featured nft artworks and collections when we first plan to taport we set out to ensure the web two users have the same customer experience on web 3 as they did on web 2 it's very important I think so taport users don't need to recognize that the service is webs based to this end we adopted a fat money payment before supporting crypto payment since SKT is a telecom operator we prior ized Mobile payment based on Carrier billing and also support bank transfer based pay payment last October SKT launched the nft service within if our metaverse service by integrating taport and T within if we began to enable if users to conveniently purchase and utilize custumes issued as nft a prominent feature of taport is its parallel display at large physical galleries we run nft art galleries in two of the most heavily food traffic locations in so these are near kangam station and Cox in Samsung dong at Cox toport nftd artworks are displayed every 15 minute on a 100 m scale of digal SES areas by exhibiting artworks in both digital and physical spaces we hope to bring nfts close to our real lives now it's more on the next topic the collaboration agenda that SKT is discussing with the ne foundation and finally I share you with you my thought on the future of web3 since April SK Telecom has been discussing synergies with near Sports we are envisioning how tet and taport can be integrated with both and Nea is incubating a number of web stre project through an ecosystem program called near Horizon which also aligned with skt's web incubating plan we could also contribute to expanding the develop ecosystem by jointly hosting web3 academic programs or heon in addition the is participating in a Global Alliance called the CCI and I believe that if SK can join the alliance we can contribute to the institutionalization of innovative web3 project if our partnership agenda is executed we can expect to see more Innovative and diverse success stories in West world so look current political and economic system is not only the one uh that we can live in there are a lot of systems and subsystems that overlap and interact with each other which can be best explained through cybernetics with blockchain as a kind of cybernetics we can imagine a future of politics that is more democratic and expressive in ways never before possible technology alone is not enough to forge a new map of the crypto space from the political perspective crypto as a coordination from the economic perspective crypto as Finance from the societal perspective th and digital cooperatives will drive the blockchain common for Humanity now I hope that everyone here will work together for the new web civilization yeah thank you for my talk yeah okay ladies and gentlemen thank you so much uh seion for that fantastic talk and huge respect uh for gracing us with that presentation in English and now we know she can also speak German we can bring her back for for near Germany which we may hold at one time in the future so let's hope so now the next thing uh we're going to be talking about is something that I have also experienced in my previous role working in a crypto-friendly fintech incredibly difficult to navigate the world of regulations uh especially when they're coming from our esteemed colleagues in places like the EU uh and and elsewhere so we're going to have a really interesting panel that are going to try to tackle and explain some of those really really difficult subjects right now it sounds a little bit like a finnished racing driver but the acronym is uh ma it's under the microscope and so we're going to have some heavy weights talking about it and understanding how uh the the benefits and negatives and how it can entice crypto Builders so I'd like to invite to the stage our moderator Miss Joy mcnight hi there everybody I'm glad the people have come to see this panel uh because we have a very exciting panel for you so I'm Joy mcnight I'm editor of the banker publication which is part of the financial times group and I have some fantastic expert panelists with me today um right beside me I have Nuno Lima Deo who senior associate at Port in in Portugal at international law firm quatra classes and president of the Portuguese blockchain and cryptocurrencies Association next to him I have Josh Clayman who is us head of fintech and head of blockchain and digital assets as well as co-head of global technology sector at Law Firm link lers uh and next to her I have Mary Beth Buchanan strategic advisor to the near Foundation as well as sitting on the board of the cardano foundation and has previously been a federal prosecutor uh and also a partner at a very large law firm uh so it's a very legal heavy panel uh which is a good thing as we're discussing the eu's markets and crypto assets regulation or MAA which entered into force in June 2023 and is currently going through a consultation process with member states often hailed as a world first in the regulation of crypto assets so from the Banker's readership position uh I.E the banks this framework is very welcomed and it's something they've been waiting for before they could really get actively engaged with the crypto assets and obviously many of them have been doing some things on the side uh but the big institutions have really needed this regulatory Clarity so that they feel comfortable uh that they won't be on the receiving end of regulatory fines uh however what is clear is the eu's new framework approaches crypto Asset Services uh from the stand point of the traditional Market structure it draws heavily on existing rules such as the markets and financial instruments directive or miid among others to create a market design for financial instruments and it applies a regulatory principle of same activities same risk same rules which is intended to level the playing field for service providers so Banks and other intermediaries and financial Market infrastructures that require supervision are all app plotting the new regulatory framework or at least think it's a step in the right direction and Nuno I'm going to pose the first question to you well this is all well and good but then what does MAA bring to the crypto Community you know what does it include and then what does it leave out well thank you uh it was a very very good introduction so the the markets in crypto assets regulation um brings brings a lot to the table um it was intended the way it was designed initially was to tackle the Libra DM uh issue Facebook meta Facebook yeah yeah uh so uh basically the way that uh met wanted to um to proceed with and to launch uh um an art an essage reference token uh as the way they intended um that could that was uh um that was a way and could bring a little bit of disruption to the to the financial stability and um and the monetary policy throughout the world yeah so the central banks as soon as they made that announc all exactly they were on it IM imagine the whole the whole community and the users that uh are within Facebook getting a token that they could uh easily use to to pay for Services um there are a lot of users for Facebook so yeah that was the biggest the biggest um um motivation for the European Union to to launch this uh this regulation um in in uh in our jurisdiction so basically Mika tried to tackle that issue first basically it's constructed as a way to to regulate um asset reference tokens and e-money tokens the typically the the stable coins that we know nowadays usdc usdt whatever so that was the the the the the the main the main focus of this regulation and after that because we as every law must be it needs to be General and applicable to a lot of different different uh subjects and not just only for a a specific Target uh they've built um other things around that so nowadays we have a um a good a good framework that regulates the crypto asset service providers how they provide their services what type of services are comprised in that regulation um and the requirements that they need to have in order to provide those kind of services I think it will be a a very good uh very good framework and under the well under the the typical Brussels effect that the regulation in the European Union as um throughout the world I think it will be a major landmark and be replicated the the basic things that mik says uh will be replicated in other jurisdictions um but um yeah in terms of what it does it include and what it leaves out of of that regulation it includes um our um crypto asset service provider must must um must register the the needs that they have the requirements um let's say for example the the the the need to um to to separate funds from clients from the users and their own funds um well FDX yeah could could have been tackled if if M was was already in uh into force and uh FTX was registered in in the European Union uh that could have been prev vented let's say so yeah it has a lot of um a lot of um um a lot of lot of requirements that uh provide some kind of clarity to the end user and uh it's it's all about consumer protection in the end of the day so uh it brings a lot of a lot into the table on that side well it leaves out um nfts because it's a very complex issue to to to to tackle because nfts you you must see the underlying asset that is being represented by an nft nowadays it's mostly IP IP content or IP uh IP assets that are being represented as an nft but an nft and ERC uh 7 uh 721 or 1155 uh has a lot of uh complexity and uh so nfts were left left left aside and this centralized um D5 projects were also left uh out of of this regulation because it's a also a very complex issue to tackle so um yeah basically nfts on that side real nonf fungible tokens are left out of MAA and defi so um but I think it will be Revisited uh in the near future as long as the the legislator the lawmakers the Regulators start to understand how everything works uh yeah because there these different phases of consultation that's still happening yeah exactly exactly um we'll have some time to to to do that Mary Beth I was going to bring in you bring yourself in now um so what are the pros and cons for small and mediumsized companies or projects sure first I'd like to thank all the hearty participants out there who enjoyed the great party last night and are still here and you're awake so thank you for being here um because this is definitely one of the highlights of the conference the MAA legislation um there are definitely um pros and cons and I would say the absolute biggest Pro is that with this expansive legislation the European Union is sending a loud and clear message that crypto assets are welcome and you know this might not seem like a big thing but it is huge um because so many businesses that that operate globally in the crypto asset space are always wondering you know are we welcome are we not welcome what what's the law um you know if we come here are we going to have a hard time operating so to have this legislation is is a you know a welcome M bring your business to the European Union the this the second major um benefit is the passport ability of the license and again another huge game Cher having been general counsel to a European crypto asset business I can tell you that it is really hard uh or was really hard uh before M to try to decide where we want to do business across Europe and you know there's very little distance obviously the countries are so close yet the rules are so different and without having the ability to passport uh companies have to be really careful about deciding where they want to do business and it's it's no small business decision and these decisions um involve the commitment of significant resources uh in some cases the commitment to actually physically move a business and have certain employees to be present in certain jurisdictions and these decisions aren't made lightly and and they're obvious L made at the board level and so they take a long time to make those decisions and then in some cases even after um you know a particular business model has been vetted and the company moves into a jurisdiction the deal flow uh isn't there and then they realize that they put a lot of resources into a particular country and they're going to have to change course so passport ability number one um I would say the major cons you know for a small to medium business uh would be the increased compliance burdens so some of the you know bigger institutions they they've already had these programs in place and so this isn't a significant thing for them but for a small business to have to certify that each particular crypto asset is appropriate for a particular customer and that the compliance programs are adequate to protect that customer that's a pretty high burden and if if the company fails to meet that burden the penalty is 12 1 12% profits I mean huge I mean that's three times bigger than a gdpr violation so this is something that they really need to get right and put the the proper procedures in place to make sure uh that they can meet that burden uh something that Nuno did mention one one of the downsides is that there are some activities that are left out the nfts and um defi activities and I I think he's correct that over over the next uh year or two um there still will be some significant debate about particular defi activities and whether some defi activities may get swept in and so I think that the final word on this probably has not yet been written and we'll we'll have to see uh see what happens there but overall it's it's a strong message for crypto assets across the European Union and hopefully other countries around the world including the US will uh take a page out of this book well I have to say you did a great segue into the next question which is for Josh and so Josh you know what is the uh how does MAA for example and what's happening in terms of the EU how does that compare to the regulatory environment in the US so I don't think that the US has frequently been accused of providing clarity for digital assets regulation um unless you speak with Regulators um but so that's one difference right but I think part of that is because rather than having a statute or or a agreement of some sort we have case law right and the case law has grown up in different sorts of ways and we have principles based laws now we do have statutes like the the 33 act the Securities act or the exchange act the 34 act and so on but we have lots of reg Regulators that overlap they have overlapping jurisdiction and I think people are pretty familiar with that now you know the well-worn test the Howie test and tests about whether something looks like a note that is a security right the Reeves test family resemblance test which are are lesser known but I think what I would say is the regulatory perimeter the concept that something would be outside of the regulatory perimeter is kind of foreign to our our Regulators in the US um because so so much is focused on how is something offered how is something marketed how is something sold so looking at the activities as well what this means is that while under MAA nfts and defi are are expressly left out the SEC has made clear that nfts can be in their view Securities and has had some recent settlements with um impact Theory and Stoner cats right and with respect to defi we've seen proposed rule changes that would expand the definition of exchange to try and capture aspects of defi that currently aren't captured under under existing law we've also seen courts within the US really grappling with these issues and sometimes pushing back on The Regulators in ways that I don't think The Regulators necessarily expected also with respect to defi you may be aware of the recent private action that was attempted to be brought um against unisoft Labs right where the court there which happens to be the same judge that's decided in secv coinbase and that was the judge for the tornado cash action um by treasury in the US where that judge said actually you know the SEC hasn't really we're not there yet Congress needs to act right this is a matter for Congress and that's something that I think a lot of people in the US have been saying for a while of course the Congress has its own challenges I would just plant a seed about something that I think is coming down the pike which is is you know the same Regulators that are very concerned about digital Assets in the US are the same ones that are now very worried about AI right and both of these industries have incredible promise and as The Regulators will remind us you know attendant potentially serious risks and I think within the US there's an increased focus on National Security actually just did a um a podcast about this but why I say this is that there have been some things that have come along over the years but they've not been fully developed the US Department of com Commerce is not one of those agencies that really comes to mind in our space we think SEC cftc finsen Etc but actually there are some things in the works that could expand the kind of kyc AML CFT sanctions stuff to infrastructure providers like infrastructure as a service providers and if you think about our industry you know if you're not a Money Services business you're not a money transmitter I'm just infrastructure just keep this in mind you'll also see if you saw Biden's executive order on AI I know that's a little bit outside of this but I'm telling you these agencies are all coming together there's a really high focus on National Security as well as competition and the Department of Commerce is going to play a key role in that too so I would just say keep your eyes peeled for the Department of Commerce um and yeah there are lots of differences between the US and Ma but I have to say that's so interesting so thanks for raising that at something that never really occurred to me either uh Mary Beth I was going to ask the next question to you which is you know all the things I said at the beginning of the banks and the big institutions now have the ability to actually engage with the crypto assets Etc under MAA you know do you think do you think what I said was actually true in the terms of do you think that it provides that framework for the big institutions to get involved and then do you think they'll all go rushing in yeah I I think that um the the Banks the big banks are really the the true winners here with with ma because the crypto asset businesses that are not financial institutions have to apply uh for authorization to to operate under ma whereas the banks as as financial institutions and persons uh do not have have to apply for authorization but they do have to meet the notice Provisions so they have to notify their you know home home regulator that they intend to offer crypto assets and they have to file the white paper but that white paper doesn't have to be approved by anyone and of course they have to comply with all of the compliance requirements but you know for a big bank they already have uh extensive compliance procedures they have anti-money laundering programs they have terorist financing programs they have you know sanction programs and so they're already ahead of the game um the the other area is that uh you know they already already have been segregating customer accounts and this might not seem like a big deal but for a small crypto asset business many of them have been operating you with with an Omnibus wallet and they were not segregating uh you know uh customer funds in separate accounts so for some of those businesses even just doing that you know is a hurdle but for the banks they're already so so far out ahead of the game um and I think that the banks uh particularly in the US have been sitting on the sidelines realizing that there's a lot of opportunity in offering crypto assets and they have been wanting to do it um but because of the lack of clarity the banks have not gotten in you know not gotten into the game and and they're not offering crypto assets and so their customers are kind of being left out but here now that they've gotten the green light uh they will be able ble to offer those assets uh you know to to their bigger uh and smaller Financial clients excellent you know do you think the banks will be rushing in yeah I've been seeing a lot of movement on that area even in Portugal um we have clients that are moving towards that direction this is a a boat that has set sail a long time ago so uh there's no way to uh to circumvent or to ignore um this space of the digital assets and and crypto assets for for that part um yeah I think that the the yep as as Mary Mary said uh Mary Beth said um this this regul regulatory package was basically built to allow for financial institutions to come on board and the trefi to come on board on this new reality and the process of getting on board in this new industry uh it's much more simpler for the trfy industry because the you they have they have that all that compliance and structure that they have facilitates this this onboarding because we can't uh we can't forget that mik is basically constructed as a way to protect the consumer the end the end user um so um well try is typically we have some some some some issues sometimes but um it's basically constructed to give that confidence and to be a trustable environment for the investors and the end users so I think yeah that um m m allows for for that process to be much more clearer and um to bring that Level Playing Field as you said uh to the to the whole industry on that side but I I I wanted to to say uh as well that um to pick up on what Mary bet said that um well this will be very very harsh to to to smaller projects to to come on board because the requirements uh are very very um very burdensome uh for for smaller projects and uh everyone will need to to address if they are on a starting point if they are really a crypto asset service provider and they the the Le legal definition and then how they can tackle uh all the requirements that that M brings and I I think that a lot of m&a movements will come on board uh where big traditional web 2 web 1 uh corpor corporations will try to uh to acquire or to include or to to uh to bring on board some kind of uh some projects that are still developing and they want or that want to develop this this type of products so yeah uh to to to give a a much shorter answer to your question yeah I think that the banks and the trefi industry um will get on board now because they have a legal Clarity and uh it's not a it's not a traveling on uh uncharted waters now yes exactly well I just wanted to close because it's a bit of a shame because we only have like two minutes left uh but I just wanted to close with the question that was posed as the topic of this panel which is like is it enough to entice crypto Builders the crypto Builders to come uh to the EU has EU has the E my my other question was has the EU really stolen a March uh on other jurisdictions and back to your point you know about you know you you expect it to be replicated in other jurisdictions so you know does it but does it like include the whole Community will it entice the crypto Builders well to to be to be very uh summary to summarize everything yeah I I think it will it is enough to antise crypto Builders um it provides a lot of legal Clarity and foreen ability for for for the future uh on that side so I think it will um it will entites the crypto Builders to to build more and to build with uh with more clarity it on what they can build or not uh and one of the pillars of M was was also um to allow for um to have new new sorts of or new ways to uh to finance the way uh that you do some some kind of BU business so uh it was one of the pillars and the European the European Union and the European commission uh addressed that so um doing iOS or initial crypto offerings um is one of the ways that uh uh um that MAA tries to to abridge that so um I think it will be very good to uh to um to build more and build better in that sense Josh we have like yes or no almost time i' like you think it will I mean I think yes I think MAA has incentivized Builders um to to come but I think that's that's also just because as Mary B said it's a welcome mat right and so you know there talk about ma too and other things that will come along but I think really Builders want to build and so if there's a jurisdiction that is not making it literally onerous for them and and potentially riskier than than it should be Builders are going to build excellent uh yes or no Mary Beth yes it's a technology agnostic and uh it's clear that they're not regul the technology so yes I agree the build the builders will come excellent well thank you so much Mary Beth Josh Nuno I thought it was a fantastic panel and thanks so much for our audience for braving and coming to watch it thank you guys thank you so much uh to our panelist talking about European legislation we're now going to be flying over the Atlantic Ocean to North America a small country south of Canada which you may have heard of called the USA often been said that if the US regulator sneeze then the world of crypto will catch a cold and that's precisely what we're going to be discussing today exporting Innovation how us crypto policy impacts absolutely everyone else uh so I'd like to welcome to the stage our moderator for today Mr Dave Rodman good morning everybody uh I'm Dave Rodman I'm the managing partner of the Rodman Law Group uh our biggest practice area is web 3 and we represent clients in every vertical from uh Venture funds like bankless Ventures to defi trading platforms like parcel most gerine to this event uh we represent proximity uh room up there uh keom and our fearless leader Ilia um with me today are uh Lisa salow uh executive uh director of The Secret Network Foundation and Tina Baker of um biger Taylor sorry uh of circle uh and I'm going to let them uh introduce themselves hi everyone I'm Lisa loud executive director of secret Network and um I'm really honored to be on this panel today because uh my illustrious fellow panelists know a lot I have been in the crypto space since 2017 and I'm one of those people who has been affected by the US policy changes and the ups and downs um I come from Big Tech PayPal apple and have been in I was leading shape shift for a while and now um really focused on privacy in in blockchain and how it's a good thing how it can be a good thing um not necessarily the bad thing that everyone seems to think it is but I have learned so much in our backstage conversations and I'm really excited about this panel so I will pass it over to you Tiana thanks can you guys hear me yes yes okay um I'm Tina Baker Taylor I'm the vice president of policy and strategy at Circle for the Europe Middle East and Africa um so I lead our engagement with government and Regulators outside of the US um however prior to that I've I've been in the the policy space in this industry for about seven years um and my job before Circle was the chief policy officer at the Chamber of digital Commerce which is the the largest um kind of trade body and advocacy arm for the digital asset industry um based in DC so I spent a lot of time um on Capitol Hill and with us Regulators as they were thinking through um what their reaction might be to something like M so we just heard on the panel before that um Europe has progressed with regulatory um Clarity for this region which has a lot of benefits there's some cons for sure um but I think around the world we're seeing jurisdictions um really attack um or approach uh how they're going to put rules of the road in place um in some cases very proportionately and practically in other other cases um with a little bit more kind of focus on risk and and and strict rules um but what is clear is that as the US kind of sits back um and and struggles to get their arms around what to do the rest of the world is not yeah so I mean that that's what we're talking about here today uh so we're sitting in a European city and show of hands how many people are American H maybe like half a little bit less uh how many times have we heard Gary gendler's name today or yesterday or or have we heard discussions about uh intricate IRS code um you know I would I would posit that there is no other industry that intern and focus and permissionless in nature that spends so much time uh thinking about what it is America does and what it is America says because it really it really does impact everyone um and I think uh Lisa uh you had some very specific ways that uh non us exchanges were treating you your project can you tell the audience about that a little bit yeah sure um well with in this last year it has become very difficult to maintain a bank account as a crypto company and I actually have a company in Canada as well so I can tell you it's even worse in Canada um just the the risk appetite of the large institutions like the the banks in Canada is very very low so most of the crypto projects I know in Canada have been debanked recently um K coin has withdrawn from Canada uh binance has and these are all reflective of what's Happening in the US with the failure of the big Banks Silicon Valley Bank and and the others signature um we're seeing that the rest of the world especially in Canada in my case is very much like taking a okay hands off let's see what's going to happen um I think that's what you were referring to it's also as uh from the point of view of a secret Network we are seeing that um exchanges are deciding that even though secret network is our token is not a privacy coin we have clear transactions we do confidential Computing we've seen companies like binance want to delist us threaten to delist us because we have that name secret right and they're withdrawing from Canada in the US and they're saying okay we can't have anything to do with anything that is privacy related because it funds money laundering it you know it's funds terrorist activities we need to take a step back or we're going to get consequen so that's been really challenging even as um even as a confidental Computing platform layer one we are seeing the problems that are happening with the the US enforcement by regulation by enforcement actions yeah and uh Tina you work for a true multinational um how do how does Circle think about uh us regulations as it pertains to its operations in Europe SE for set yes well obviously we um are a pro regulation company we're a very centralized company um and you know as the issuer of a fully backed onetoone uh reserved digital dollar there is certainly a US Nexus for our company um which is impossible to deny um so one of the things that um circle is obviously very committed to and focused on is working with policy makers to um Implement uh very specific uh guidelines and rules for stable coins and there is a a bill at the moment that has passed the house Financial Services committee um and we're hoping that that bill progresses through Congress ideally this session um there's been a lot of focus on stable coin um policy in the US and and and around the world and I think that has to do with that Nexus right um so you'll you are creating an an asset that is reflective of an underlying currency um Circle also has uh a digital Euro um Euro coin and so that's also backed by Euros just like usdc is backed by dollars and so when you're operating in those contexts and you're able to plug into potentially the the traditional payments ecosystem um there needs to be very clear understanding of obligations and um the earlier panel was talking about segregation of assets and where those reserves are held and how Etc um so we're uh very supportive of the US progressing with with those um guidelines and hopefully um we start to see countries around the world looking at how they're going to um regulate not just stable coins but crypto assets more generally with a with a lens of equivalence right um or harmonization to some degree because as we're you know we're talking about M and the panel before there's very strict guidelines for how stable coins can be offered in Europe um and those depend on whether or not it is a European denominated stable coin or us or other denominated stable coin um and so how do those rules then align with a home jurisdiction for a US denominated stable coin there could be a lot of of oversight and supervisory friction there if the rules are so so different um and we're starting to see that in other jurisdictions where you know hopefully regulators and policy makers are picking up the phone um and calling each other or working through you know the the global government bodies that we have like the bis and the financial um stability board and uh a good example of this would be fatf right the financial action task force which a couple of years ago um created these guidelines for every country in the world basically um to put in place money laundering um prevention uh specifically for crypto assets which is very reflective of the bank secrecy act and which already EX existed right and I think it is um you know no coincidence that the US was uh the president of the fat during this period right when these guidelines were enforced um so but what that did do was create a Level Playing Field around the world for um crypto asset businesses to understand what their money laundering and and counterterrorism prevention obligations were and so hopefully as we start looking at bringing up other types of specifically centralized um crypto asset activity into the regulated perimeter like Josh mentioned earlier um we're doing that in a way that's consistent that allows global companies and not just you know a global company but digital assets by their nature are borderless and so they're going to move around um and if we don't have um some level of harmonization of those rules I think it's going to to create a lot of friction and more potential regulatory Arbitrage like we've seen previously I I just wanted to add to that it it can also create this sort of Walled Garden where certain people are walled off from participating in like some of the the US regulations I've been looking at with um exchanges being proactive in reporting who's interacting on their platforms and then if any wallet is um is touching a mixer it has to be um out yeah so these these are things that could potentially prevent certain groups and certain regions from participating in the global economy which is you know is meant to be borderless I think people will still participate it's just they won't have the legal right to do so I mean that's that's one of my fears is we end up into uh like a true dichotomy of crypto in the US crypto everywhere else it can go one way but it can't go back another way you know you touch a tornado cash wallet and you can't use that the rest of the assets that are in that wall in the US I me that's that's the sort of thing that keeps me up at night because uh as an American citizen proud of our tech industry to an extent they're not evil uh but really has driven our economy for the last 20 years um the idea of what we would be currently like if in the first year of operations Google had been told no you have to go to the Cayman Islands or sorry you have to go to Marius uh you we wouldn't have the products that we have now uh so that that is my my fear as a someone who supports the space is this exact thing but see I think what's happening is that um the the way that this capital is able to be deployed in this borderless way we're seeing Capital now deployed in you know southeast Asia and the Middle East and you know areas of you know Japan other G20 G7 countries and so you know if we have G7 countries like the UK um and the US which are approaching this on a very activity specific Case by case um and leaning into as Josh mentioned you know that case law where the president sits as opposed to kind of looking at this as net new economic activity that is Deployable in a way that was not previously available to us before you you're going to have challenges in being able to apply this type of activity into the existing Frameworks and so what happens to those countries um and I think that there is the potential for um those jurisdictions that don't kind of pony up to the table and start um addressing this in a proportionate practical way um that that the capital will just leap over those countries and I think that's one of the challenges we're seeing in the US where companies are thinking about leaving or indeed leaving and moving to places like you know Portugal for example um as a as a key attractor but we're seeing that happen now with companies looking to move to South Korea looking to move to Dubai looking to move to Abu Dhabi um because there's a clear framework there's access to Banks bank accounts um there's access to other Professional Services it's not just enough to put in place um a regulatory framework but you know we we've seen these challenges in the UK where there's rules but then you can't get a bank account and you can't get a an auditor and you can't get insurance and so how is a regulated business supposed to operate without those um Professional Services that that everybody needs um so I think that there is the potential for I the idea that everybody every body's going to pack up and leave the US I also think is a bit absurd um but it becomes a real capital investment both in um time uh money and just a lot of energy for those businesses that continue to show up in the US and try and push forward you know practical balanced policy well yeah I mean like how many Founders do we have in the room show of hands you know normal us startup uh Canadian startup 100 bucks to incorporate uh a C Corp uh you know standarded crypto incorporation in the Cayman Islands $122,000 BVI $4,000 this the sheer friction to that that is uh well and that's not necessarily going to change either even when those rules are in place you know I think Mary Beth mentioned it's not just enough to go to Spain and apply for a vasp license you now need a general manager you now need a head of Finance you need a a money laundering reporting officer you need a chief compliance officer those are four senior expensive people and they need to live in Spain and they need to be running that business separately agnostically from the parent right so you know when you're thinking about relocating there's a lot of considerations um but if companies are looking at that and still deciding that it is a good move for them because the situation at home is so um untenable I think that really speaks to the challenge at the in the US at the moment well I I think how realistic is it to expect that the US I mean regulation in the US moves very very slowly and the rate of acceleration of technology is increasing and increasing defi today is nothing like defi was a year ago and five years ago didn't exist so how is it even possible like what else did we expect right except that Regulators would not know would not have a clue what to do with this new thing these new asset classes and how realistic is it to think that we can solve this like what does the future hold really in the US well I mean I think the answer to that is we need to see the pruning of the jocy and a bunch of senators who are over the age of 70 need to die or leave office so that younger people who understand these things can take uh elected office and actually have uh practical rules that's just my own personal view not not my firm's view or anything like that but uh oh and I didn't start with this uh some of us are lawyers up here but we're not your lawyers this is all just educational information um that's my standard disclaimer uh but yeah truly I think that the the real change is going to happen when there's a regime change in in the US so I I certainly um as an American who hasn't lived in the US for 20 years I mean I I sit back and kind of watch some of the things that are happening and um am baffled hi um you know the idea that there's no speaker of the house and it takes weeks to get one right it's it's we put these people in office to govern and sometimes I question whether or not they remember that that's what they're there to do however having said that I think that there are um ways in which the industry can show up participate have a place at the table um and and actually proactively um contribute to these policy discussions in a meaningful way I look at Ma and through the the lens of it's it's it's a successful um regime or you know it purports to be we'll see what happens once it's implemented um but there's a number of things within it that are just impractical or or maybe actually technologically impossible to comply with and the reason some of those things are in there are because nobody was talking to the European commission as these things were being drafted and then when it got to kind of the end and this trialogue period then everybody was like oh my God this is like really bad but it was too late right so you know I I think on the panel earlier Josh mentioned the Department of Commerce there there are areas of government that are getting involved in these policy discussions uh the National Institute for standards and technology is another one um they have an open consultation out they're looking at AI they're looking at crypto assets they're looking at kind of the future of money um so there are ways that the industry can contribute to education that I think are absolutely imperative and especially in areas around privacy versus secrecy just because something is private doesn't mean that I'm doing something wrong or that I'm withholding information that you should have right I have a right to privacy and being able to distill um privacy preserving Technologies and what those are and how they're used I think is a a critical area where we can educate um I think identity is another area inter um so I think that if we take those areas where they're not specifically battling about what's decentralization and what's not and we start to focus on education across a broad piece instead of kind of hiding in the corner and waiting for something to happen to us I think we'll get potentially better results well at leis I think you had some I just wanted to interject a funny story um and what you were saying about not talking to the regime I there was a funny story in one of the states they had a bill proposed that um if anything happened on the blockchain the the government would have the the ability to force a fork of the blockchain which is just a I mean if you're in blockchain of obviously it's an absurd idea but the fact that lawmakers thought that that was a possible response to force a blockchain a layer one blockchain to actually fork in order to correct something that had happened that was illegal is just like a really good example of how you have to you do have to talk to the lawmakers but I didn't want to interrupt you about the Privacy difference between privacy and secrecy I think that's what you were about I was actually you were talking about your efforts on the hill with uh lobbying uh yeah so lobbying um recently was Global encryption day and so we're part of the universal privacy Alliance Group which um together with stand with crypto from coinbase um had a congressional briefing with Tom emmer on October 17th so we went to talk about privacy why privacy is important why it's not a bad word and uh how important it is to have private privacy preserving Technologies and uh I've heard even today I keep hearing this this note of well I don't have I'm not doing anything bad so I don't have anything to hide even regular people think that that is a reasonable thing to say but it's not absolutely not it's not reasonable because you don't keep your curtains open all the time in your house because you you do need privacy we just take privacy for for granted right now and I think we're sleepwalking into a future where that priv all our rights to privacy could be eroded away and suddenly we're like wait what kind of a world do we live in now oh the the uh end result of a cbdc is an absolute uh dystopian future where uh you know you have one too many big Maxs and your insurer sees that you've paid 100% And and then your your health insurance goes up I mean that's a real outcome that could happen and I know that circle's working really hard to to have that not be our outcome but I mean yeah that that is a very real real uh possibility when you look at the amount of data that's about running around around running about around us already right so if you look at you know payment apps like you know Apple pay Apple has an awful lot of information about you um they're probably one of the better uh privacy Advocates uh amongst their con kind of competitive set right um but being able to combine the information that is out there about you that you're not even consciously aware of um and start to make algorithmic decisions about how much you should pay for insurance or you know whether or not you know this comes into um money in in the through the lens of cbdcs right so if you have government issued digital currencies that have potential limits on how they can be spent and the ability to have programmability within this money um and you show up to the grocery store and you decide you know having a Super Bowl party and you're buying a couple cases of beer and computer says no because you've drank too much this month I mean that that is a potential I think the other thing that I would really encourage people to do and and I know that this is hard if this is not kind of your area of expertise but this is why we have trade bodies um join a trade body because they'll be looking at other types of policymaking or legislation that might not be specifically crypto related so for example a bill just passed in the UK it was called The Online safety Bill and it had been around for years and years and years and it was one of these Christmas tree bills where people have all their asss that they keep adding ornaments to the bill so it was taking a really long time to get ped and by the time it was ready to get past there was some extra additions right at the end around encryption and what they were trying to do was prevent child pornography being exchanged on Telegram and WhatsApp um and through through coid um uh inquiries they also realized that MPS were avoiding communicating on official channels because they were using WhatsApp and they're like What's this WhatsApp what what is all this information being shared on WhatsApp we should lock that down right there might have been ways to put measures in place to prevent child pornography that didn't necessarily attack encryption but because this Bill had been out there for so long and people had kind of lost the will they just wanted to get it done um there are several areas um around the language around encryption that I think potentially could have some impact on Smart contracts down the road right and so you know now the the whole process starts you know speaking to the law commission to get them to go back and take a look at this right so I think we get very focused on crypto policy but I think that we need to be a little bit more broadminded and how disruptive Technologies are being potentially policed and how it could impact things like privacy decentralization and some of the other tenants that you know our industry is built upon that that's a great point I I looks like we're out of time unfortunately I would say for everyone utilize AI to generate letters to your representatives send them in people are forced to read them at least in the US you can make a difference and now you don't have to actually write the letter you can just use chat gbt to have it right for you so yeah that's a great point I think people don't realize that really quickly if the the offices your Congress people and your Senators they keep track of the that people call on they have to so um make that an issue they care about yeah well thank you for talking with us today guys thank you ladies for this uh wonderful panel um everybody have a great rest of newon okay guys well done to all of you who have uh stuck through some really heavy legislation discussions from both Europe and North America the good news is now you can all go and uh relax for 30 minutes we have a lunch break uh please remember you've got that neon left over in your wallet uh hopefully you've been earning some more today going to some of the different experiences from our partners so now you have 30 minutes to go and spend it whether that's at the swag store or to go and get yourself a slice of pizza or something else so we'll see you back here in 30 minutes thank you e w for I what a w oh w he d right three m your foundations Martin best hey that wasn't an elaborate power play by me there just trying to go off stage and I say there was genuinely something wrong with the microphone we just had to fix so if you care about the near ecosystem I think we could probably agree that the people coming on to the stage next have the most important job arguably in all of the ecosystem in many respects uh finding developers nurturing them inspiring them getting them to build on Thea is a critically important job we're talking about targeting just tens of thousands of people around the world so it's going to be a really good discussion what we always find with web 3 projects is they start with a theoretical idea of how they're going to decentralize and then they're stuck with that very very difficult problem how do you bring it to reality how do you actually make that come to life in practice so this is what we're going to hear from our guest today and it's going to be facilitated by the one and only Maria Yota yeah just go hi folks thank you for staying for our little so I'm going to sit down I'll be working a lot today um so yeah we are here to present Dev Hub this is our team most of our team the the our our leader and founder Unfortunately they got sick so not to spread the conference back he's staying home today and we have Joe to replace him so so uh I think we uh we have all the names here so it's kind of self-explanatory my name is Maria Yota I'm leading heckadon at near I've been working at near for almost two years now and the point that I like to brag about is that 8,000 people hacked on near with me last year so I think it's pretty impressive in terms of where the heck it on goes so we opened this this little startup almost year ago I think the first time we presented it was uh at at the previous nearon so let me just open it up with some slides I didn't realize they're there so this is me yeah I like salted licorice they told me I need to talk um about you know some fun facts about me and let me just uh present what devhub is about so yeah I I kind of see you here that's awesome so uh about last year uh with those 8,000 people I like to prag about they hacked and built and shipped 3,000 project and we are incredibly proud of those who stick around to the ecosystem come back to the hackathons and actually keep building with us so thank you very much um most of those people are currently in the other venue hacker HQ if you didn't check it out most of you have checked it out so if you didn't come visit us there uh we have a lot of tables to work and we have some snacks so just drop by um so yeah let me just pass on to what Dev Hub does why did we found it we found it because we realized uh that our uh ecosystem of developers is overly incentivized so it's it's pretty obvious that people don't want to code for free they don't want to build for free uh can we just give them money can we just distribute tons of Grants um apparently we cannot so this is not the way to to go forward unfortunately we failed a couple of times and then we realized that we actually can diversify the approach and create a couple of Pathways where people can apply for support through devhub and find their way through new ecosystem so devhub is actually focused on developers which is obvious from the name uh but it's not just that we we do events we do meetups we do educational initiatives so um Michael is here my my beautiful team is going to talk about that in a moment so um I should go back can I go back yeah so uh when we are thinking about building out the new ecosystem of developers uh we are keeping you know this one just just one person the abstract developer in mind which is probably not the right way to to move forward we have several types of developers and blood here actually worked on the personas nma here is an expert in developer marketing so we realize that all all of the Builder personas we have three main ones which is app developers platform en enablers and platform developers so uh but this this is not where it ends this is just the three main ones and we have more we have heon hosts we have validators we have a Auditors and we we have deep Tech enthusiasts who shape ZK stuff we have a working group for that so devhub decided to be a place where all of The Talented amazing and smart people land so let's see what we can offer them uh we we support them through having a board where people can publish a proposal and get support and this is not centralized through me so there is not one Maria who approves the proposals this is a board of moderators who write attestations who approve or disapprove sometimes the initiatives that uh emerge in our community so what we do through the board we we support meetups and heatons and we un boarded a couple local hubs specifically near China is working through dhub now or they have a really cool new logo with us so we are sponsoring meetups throughout the globe uh we support local contributors uh we provide mentorship guidelines to make sure that everything is streamlined standardized and throughout the globe near standards are are held on the same level so we share the knowledge and we make sure that it's easy for people to on board and become aan in a sense that we all would understand and support uh we also support neuro integration uh development of docks and libraries we will talk about about that later uh we do office hours in different languages and different time zones so to to support this idea of a truly Global Community um and generally I would say Dev is connecting people because all of them can can meet each other through the board so let me just walk you through the year at a glance uh what we have done so far so first heatons and meetups we supported 12 events throughout the globe including e Global events e hackaton student hackaton all kinds of hackaton and we productized our knowledge about hackaton and released a product called hackbox a plug Inplay solution where people can host a heckadon um pretty much anywhere on a very low budget so we already have four events in the pipeline 15 more coming in the q1 and next year um another program program worth mentioning is near campus we have five 15 plus University clubs and we're boarding even more to including some big names that you can see on the screen I'm not going to name drop so uh Boris who is not on this but this panel is managing near campus on boarding students and and clubs throughout the globe so if you want to talk about near campus come to us to hacker HQ and fight Boris he would be happy to tell you more uh we have decentralized developer relations team so instead of just one team on a payroll we we have contributors throughout the globe uh we on board them they have mentorship guidelines they have all of the St to become near mentors so if they are a developer and if they are likable they actually can talk to people it's it's a very small intersection on that V diagram but it exists actually so we find these people we Scout them we teach them and we include them in our decentralized deal community so here's our link tree po by our booth so visit us at a HQ and I'm going to introduce my team now so starting with Vlad um Vlad is one of the first contributors in new ecosystem so Vlad how do we build the communities without incentives yeah sure well you run through the whole history of devhub but I want to start with the history of near ecosystem since I joined near four years ago and be been seeing and building this ecosystem together with all of us here and I've talked to many uh folks during the conference uh I've been to all three near cons and I'm excited to see it growing uh so well we near ecosystem started as a um open Community from day one and it's great but we had um the the initial focus and the uh approach to uh deliver near was that okay let's let's build cool stuff and people will come and and see and use uh the tech but it's it's not always the cas you need this Secret Sauce to to be there and that is um a bit more purposeful uh directed uh approach of uh telling people how to use it um where to find the relevant resources and all that stuff so this this idea of devhub was baking uh in in my head and in head of uh this whole uh awesome team for quite a while and we definitely um um had some insights collected over the years and um the one of the inside is that open source that's where we Drew are a lot of like inspiration from o operates with no funding incentives and the the main incentive for people to contribute to open source is they they they want to be part of something bigger they want to be um uh delivering the uh tools that are useful for somebody else so it is a kind of diff like um it's an interesting need humans some of the humans have uh in in just day-to-day life and that is uh what we employ here and what we want to focus uh in in Dev Hub and that's what we uh build uh through the tooling that we provide so uh we have as Maria mentioned many uh Frameworks that we replicate across the globe uh with that that would help others to just run the same approach uh no matter where in the world they are um mabox is a great example of that template that you can just get up and running fellowship program is a way how we uh bring people up to speed and uh uh make sure that we find the right talent and right motivation and Empower them and on board so currently the fellowship program that I will be talking uh more in detail later today at later to Stage is uh more about like those incentives uh that uh um yeah we we just help people to uh to find their way so this is important uh I feel like role for devhub is to uh bring this uh Community uh on the same page and uh we are not trying to be the near we want to be uh The Hub of near uh for developers and we want to actually bring um our like users who will arrive to devhub uh to explore the whole system from the lens of Dev Hub so with all those like uh small details that's how we build the the ecosystem that's what we focus on um and those are like very tiny details that we pay attention a lot and I hope Joe will also share with like how exactly we uh uh see it in the future but overall the holic system is growing and it's awesome to see thank you V so when it comes to being on the same same page we kind of need the page and we kind of need the people to be able to use it as opposed to be designed just for the developers and being in all T and in consistent so AI is actually the person behind our beautiful platform which was updated uh last Friday as usual so Orie would you like to talk about um our processes and about our platform in general sure absolutely so yeah the devhub uh portal is the main place for Developers to find everything that they need to be able to contribute to the near ecosystem you can submit ideas there and proposals find resources and and get sponsorship and also discover communities working on a variety of areas from protocol development to zero knowledge and it is an open source project so anyone is welcome to contribute and I guess I can also share a little bit of the journey that we've had in building it over the last year uh initially our Focus was around technical government governance and bootstrapping working groups and processes to enable uh you know decentralized decision making like on contract standards and protocol Improvement and to help create visibility we launched the first vzero of devhub uh in Q4 of last year and it was a landing page that introduced the project uh and how to get involved then later in q1 of this year we launched the the next version which was the gigs board which brought collaboration and coordination into one place and enabled uh anyone to to participate from there we scaled uh and added a new feature which was communities which enabled groups to self-organize and and focus on just more areas and as Maria just mentioned we our most recent version we applied the new devhub brand we added some ux improvements based on feedback as well as other enhancements and as we move forward into the next iteration we really want want devhub to not only be a tool just for for our team but for any partners and players in the ecosystem uh we want to help them scale So yeah thank you Ori so um when it comes to standardizing the processes we need to make sure that everyone is on the same page regarding our standards and how we actually want the ecosystem to grow how we want it to look like this doesn't mean that the system becomes centralized but it uh means that the system actually becomes consistent so everywhere you go to a near heckadon or Everywhere You Meet A near campus uh student we we need to make sure that they follow the same so to say guidelines so I would like nma to talk a little bit more about that because she's an expert on productizing know wish we have a Dev Hub um yeah hi everyone my name is nma um I'm the product manager at hackbox um and just like Maria said I think the beauty in decentralization is being able to empower on an individual level while also scaling at a community level and so I think hackbox really um exemplifies this by providing an endtoend solution that assures consistent quality and growth across the board um as you can see even here near is a very Global Community like Maria said earlier as well we had over 8,000 hackers hack with us last year and so we were really thinking how do we streamline the processes that these teams organize around how do we make hackathons accessible to everyone and that's where the light bulb came up and hackbox was born um so what is hackbox um not only do we provide funding support to anyone it's beginner oriented so anyone that wants to host a hackathon we're also productizing the team's Knowledge from hosting hackathons over the years um giving you guidelines from how to set up your registration form all you need to know about near developers our audience segment ments how to talk to sponsors if you need additional support for your um event we have our amazing designer here Sasha who created templatized designs that anyone can fork and edit to meet their own needs so really it's an endtoend plug-in-play solution for anyone to be able to host hackathons near hackathons to empower their communities um and there's there's a lot of value in being able to empower the individuals in the ecosystem that have the context to take that knowledge and Inspire Innovation within their communities um and I also want to say a little bit about like why we support hackathons in the first place it's not just about um challenges it's not just about winning bounties it's something of like a a microcosm of of what is possible when diverse perspectives people from different backgrounds are able to unite across a common Vision a challenge they're working in a Time bound environment and they're able to put together something that that's really cool and value additive to the ecosystem and so that's why we support um hackathon so much that's why we have this initiative to make hackathons more accessible to the community um and I'm really excited to see the new verticals that we unlock the new communities that we're able to bring in right now um we are in the process of um completing our beta cohort for hackbox um we had teams two teams in the US One in Mexico and um one in Niger neria as well um one of our hackbox hosts is right there Joanna from near NYC um and they had actually NOS present at their hackathon who were able to contextualize their problems their problem statements and developers were also present within that Arena um to help solve those challenges we have teams working on making the web 2 to3 transition more accessible um and really just providing value across different segments and I think that's really powerful and really I think realizes nearest core EOS which is one of an open and accessible web thank you Noma so heatons is just one step weab in near developer and we actually want them to stick around so we have bounty hunters we have all kind of people who just ship the same project at all hackaton trying to find a problem for their solution which is really back first in my opinion but our end goal as Dev Hub is to actually find and ret uh a lot of talented people with bright ideas who eventually become either devhub contributors entrepreneurs or maybe near Foundation employees I know at least a couple of people who who became employees through one of the heatons so Joe um would you like to talk about our gameification and retention strategy yeah absolutely so as you were saying one of the challenges that happens with any type of ecosystem is as people come in as hackers or as project owners is that it's not enough to just give them great tooling like Vlad mentioned it's also about making sure that they feel invested we want them to feel like they're actually part of the community so that comes from a couple different things and the obvious one always is like grants but we like we said we don't want to just be giving out grants all the time that's not sustainable that's not a methodology that really builds community so we want to look at retention strategies that actually are meaningful to both the developers themselves as well as to us as a community so things that we're starting to roll out this year and leading into next year are things around gamification so even if you're not actually ready to build an actual project you just are interested in near you like hacking you like building stuff we're going to give you opportunities to actually uh compete in challenges and essentially build up a reputation within the ecosystem so because what's going to happen you'll see from the hackathon here is that some people will make projects but some people just not know what to do next and we don't want to necessar force them into having to be an entrepreneur because not everybody is that but if you are an entrepreneur we want to give you that path so the the retention strategy really again around gamification and giving them those opportunities to be part of something is huge secondarily we think that by giving them the tools to actually come in and out of the ecosystem at different points whether you are ready to again build something larger or not uh as devhub we are the Hub right so we are not the ones who are going to make sure that you know you are building this great project and raising millions of dollars but we will help you get from the hackathon to where you need to go within the ecosystem to actually achieve those goals and the more that we can do that by interacting and engaging with you through again uh challenges hackathons and different types of uh whether maybe something like pairing people up and having to work together there's a lot of different ways that we can go about this it starts to build build that cohesion that we're looking for so that we can kind of expand from there thank you Joe so we have a couple of huers in the audience uh I think this year's heon is really special because we managed throughout the year we managed to build the bridges in the ecosystem and actually have challenges from Amer system Partners including sweat economy there thank you so much for such an exciting challenge to be on board the next billion people on di so I think through hackathons we actually can connect all of the entities and the ecosystem and come up with something beautiful so we have 700 registered people I think two or 300 are actually hacking in hacker HQ right now and the submission in line is in mere three and a half hours and thank you so much for taking your time to come here to listen to us so if we had one advice or suggestion or just a comment for a person who's trying to on board near ecosystem as a developer what would that be Ori let's start with you well I think you need to have genuine excitement about what you're doing and that will show organically as you interact and uh I think also being uh very curious about uh finding all the communities that exist and if they don't creating your own uh and just finding other people that are that share your passion and working together I think that's how we've seen the best success is when really are able to align with other folks and you know bring your ideas to life so that's what I would say yeah well very well put but I I personally believe that every single person on the earth has their own superpowers and that's why I uh view newa system as well like we need to play to our best strengths and definitely devhub being the home base for all developers or like I would even say like not de just developers but actually like any technical uh audience be validators or just even like Tech newsletter writers uh they they just can you know bring a lot more to the system uh with their like just very small Focus but they do it perfectly well and then it makes 100x impact on the Hol system so I we are trying like I'm personally trying to uh bring that to Dev Hub core and like core values how to empower identify find power people uh doing what they do the best so just keep keep building keep uh keep polishing your like superpowers and show us and like show show show us meaning us the near EOS system um and hopefully that like my my dream is that uh at certain point we would say like go on near you know like like we do today as like Go internet there is no internet.org so hopefully we will not see near torque uh quite soon with the growth of the ecosystem so big that it would just would make any no sense at all uh no yeah I would like to say one key thing is to take ownership of your journey um because this space is really what you make it there is a wealth of resources available to help I think we've gone through a lot of the initiatives um that we have undertaken at devhub to empower the community but that's again just one piece um we have so many different resources from the foundation to near Horizon to the different self-organizing communities um that it's really about coming in with intention and then taking ownership of your journey and what you you you turn it into so yeah that's my message for you take ownership of your journey so many good answers already um I think for myself when I speak to developers or just technical people in general uh I like to think of it a little bit different where uh in normal like I guess non crypto type Tech you know it's usually like one particular piece of technology that you're invested in and that you're building a community around the beauty of near is that it starts with this concept of open web and then it trickles down into all these different things whether it is something more hardware and networking based like validators to front-end development to Smart contracts and all the way through and so whatever you want to geek out about you can do that here and you can be part of a community and it's a really interesting process so again if you're into ZK if you are into security whatever that might be there's a place for you here and we hope that devhub that we can help guide you through that thank you Joe so I have one more question for you and it's a tricky one it's actually my favorite one the one that I was asked when I first entered web3 space um I guess it's always challenging to see uh if if you are reaching success or not if you don't know how the success looks like so for Dev Hub how do we know that we actually you know we actually did it we actually made it how how would it look like maybe in in reality a couple of years from now maybe you know what's what's the desired outcome starting with probably ory well I guess let me just recap uh what what happened so far you know I think when we look at the last year since launching the the devhub portal uh we've seen tremendous growth in engagement you know from the developers we've had over 400 uh unique authors uh submit long like 2,000 long form posts ranging from uh you know really amazing ideas to uh full Solutions we've had over 25 communities for and 30 Community calls uh We've sponsored over 200 uh projects and individuals and so I guess when we look forward I would like to see that momentum continue to build and be able to tell next year that you know that that number is times five you know or more more so we just want to continue to uh solve amazing problems together and and make a positive impact on on the ecosystem and on the open web uh in general so yeah Vlad well um first of all I I'm I'm viewing near ecosystem as a whole I'm not uh separating like devhub Community versus near community so I wanted to succeed near Community to succeed as a whole and even like bigger than that like uh the technology to succeed uh even though like it's it seems like it's it's doing great but uh ultimately it's all combination of small pieces that we innovate and move forward so in in terms of Dev Hub if we narrow it down and like say well what what is the contribution from Dev Hub specifically I you and I think we already achieved quite a lot as we're already like presented with like hard stats uh and we are getting uh like we Dev Hub is already start started to be used as the The Benchmark to many of the initiatives in near ecosystem which is already a good indicator to me that we are doing great uh to in know for for ourselves to to to see that the progress is there um we definitely want to just yeah keep doing what we're already doing and never like reduce the quality level of quality that we want to deliver and what we are delivering today uh there is always room for improvement that's what we are here for uh we yeah we we did The Branding it was long overdue uh we did uh we we improve on ux on the platform itself we definitely want to improve and bring um Dev Hub to be like just a natural way to you know it's like speaking so it's it would be natural for people to just oh I I I I just go to Dev Hub and and I'll I'll sort my problem there easily so that that would be awesome to see so yeah absolutely um and I think one more thing that I count as a marker of a healthy and Vibrant Community is organic content so how many people in their day-to-day lives are finding this technology useful and what are they saying about it how much are they proliferating this information I think that will contribute a lot to how ubiquitous um nears technology is um in the ways that people find it impactful in their personal lives and are able to share that message and actually just like self-organize advocates for the technology for the community so if someone has attended a hackbox hackathon and that was really impactful to them and they choose to make some content or write about what they learned or you know go off on a evangelism Mission and start preaching the Good gospel of near that is I think a healthy marker of a community that's really vibrant and active and successful and I think that's something that I would love to see more of and I'm sure that we are well on our way as as a team just one small piece of the ecosystem in in supporting that Vision I I I love that answer because I think the for me numbers as side I think the numbers right are obvious that you always want to see more active developers each month and all the way through but the real you know I think proof of your ecosystem growing and getting stronger is people self-organizing writing on their own uh doing those things so no longer that instead of us driving different working groups you guys are driving the work groups that to me is a strong ecosystem uh I really would also I think as we start to grow as a hub and as a larger Community across near to be able to better provide these Pathways that we mentioned earlier can we get you from you know the idea of going to a hackathon to possibly being a Founder if we can solve that for you if we can get you to self-organize then I think we're doing the right thing thank you so much so in my opinion success looks like decentralized diverse ecosystem of people who actually feel like stakeholders who feel like their opinion matters their Vision matters and we would be here to help them to to take it off actually whether they want to host a heon or they want to do something for their student club or they want to build a startup we're here for them so if you want to meet us if you want to talk more about Dev Hub initiatives uh come to the hacker HQ we will be there I think until the end of the day because we're doing the he done um so yeah the link tree is here to help to find our social networks our websites and our main resources that you might use as a Dev Hub contributor and thank you so much you a okay ladies and gentlemen I hope you enjoyed listening to our colleagues and friends from devhub like I mentioned before they started I think what they're doing for the ecosystem is so so so important and uh you can just hear as they talk how much passion they have for what they do so please make sure if you see them walking around or if you go up to the hacker Hub you uh go and check them out and and chat to them there's just so much knowledge about Community inside their heads so you can see we now have on stage a Podium you might think we're going to entertain a king or a president or or some sort of great leader uh currently not a leader of any Democratic nation that I know of but still somebody who's incredibly bright has a huge amount of knowledge and we're going to continue the decentralized theme now and we're going to be talking about Nia and some of the principles that cross chain Builders have to remember so I'm really proud to introduce Mr John ywood board new con good afternoon um as Martin mentioned my name is John yarwood I'm with the UDC and the Executive Vice President of legal and advocacy um who is the udhd you might ask we are uh oh all right we're are a group of former maker Foundation um Executives and advisers who now use the knowledge we gained and experience we gained uh bootstrapping the maker di protocol and dissolving and decentralizing um the protocol after dissolving the foundation to fund and strategically support new projects who are building things to combine Defi and traditional Finance into what we believe will usher in new Finance so before we talk about decentralization we kind of have to come to a common understanding of what that means right there are a lot of things you can say decentralization and there's a huge umbrella that many projects fall under that word so what we say is the system is decentralized if it is fault and attack resistant with a remote likelihood of collusion or creating a common point of control and with a sufficient number of diverse and independent contributors political actors and social influencers or community members operating the system's logic and when we analyze a project or platform or an app when we think about a decentralization we tend to look at this Arc of decentralization for its development starts here with Founders or a founding team they're in control they're maintaining that control as they build and need to bootstrap they seek funding whether that's publicly or privately and they seed a little of that control over to those funders and then as they build their projects and their communities they build in such a way where they can hand over the work force and the control of that project to the community itself Landing in the spot of optimal decentralization as we stand here today there's a couple questions I think I want to go through and answer with you first is near a decentralized protocol right now second how will the near ecosystem maintain a decentralized ethos as boss is increasingly used to expand the near ecosystem and then as we answer those questions we also need to think about at the same time when not if near reaches an inflection point what may follow what exogenous pressures may come to the ecosystem as near Scales and reaches that inflection point so today we're pretty close to busting out towards that inflection point as we speak over the last few months um 8 to 10 months months certainly after the FTX collapse the daily user accounts the um excuse me one second daily active addresses new addresses and smart contracts have grown at a steady pace so has the growth in transaction volume and the number of validators have increased on near and over the last quarter specifically these have jumped Leaps and Bounds right shout out to Kai now for helping with that but as that happens you're going to see there are increased security attacks increased pressure on the system and then also more legal and Regulatory scrutiny of the ecosystem as it grows and considering how much near social growth and widget development has happened since boss was introduced in March that will happen soon so so when we analyze something at the UDC we like to think of it as the four attributes framework we look at the structure number of tokens computers addresses clients control the number of people that actually control that structure the influence the number of people whether directly or indirectly influencing that control and then the number of processes and functions the protocol has and the overarching objective of this decentralization we believe is uner auton user autonomy or self sovereignty so we look at the near Tech stack right now right let's go to the front end layer the front end layer we rate the structure out of four and a four out of five there's multiple independent front ends that access the protocol I've heard thousands thrown around this week right control access by open source and proprietary front ends influence community and user base uh influences the direction of development and accessibility and then process uh the process exposes protocol functionality with added features smart contract layer five out of five on structure great job smart contract layer is open and versatile enough to create any protocol or dap control it's an open and upgradeable smart contracts four out of five influence smart contract layer is primarily influenced by near Foundation alongside the community it is not in infuenced by public policy or regulation necessarily at the moment process the smart contract layer is available for protocol andap development to all continue the data layer structure this is where we start to run into a little less decentralization right the data layer some data is stored offchain with compressed data secured onchain control it's a three out of five most State data is readily accessible with onchain data being immutable influence the data later design balances security with performance at the moment and accessible it's accessible under suo anonymity for autonomous use and process all data layer processing on chain and secure it on chain when we get to the settlement layer you're going to see a drop off and that's understood at this point in time where the near near protocol is if you remember that Arc of decentralization I mentioned so for structure it's significant geographical distribution and there's an implied Independence among validators however when you get to control right now there's a low number of validators a higher control with a single sequencer and near concentration influence node profit right now is balanced with security as the protocol is still developing an ARCA decentralization it's not a completely open incentivization system yet for nodes and validators process getting a little better better it's versatile but it's still decentralizing so not yet ready for full ecosystem now then we like to look at the softer points right and this is more human or entity control uh and um participation on the the protocol so when we're looking at user autonomy or self- sovereignty first of all we believe that a neutral infrastructure is at the heart of that we look at a political aspect is the community has the decision-making power and influence to create policy administrative this community is responsible for planning financing and management and economic is a community responsible for generating revenue and controlling expenditures right now politically the decision and policym is publicly accessible you all know what's happening however it's particularly focused by the near Foundation but new governance is coming on live like the NDC right had their first vote just this past quarter it's a milestone that can't be ignored administratively near is developing a diverse Community contributing towards establishing new operational functionality you have devhub you have the near development Suite of tools the big query public data set and you have the success of kakai now as an example of this administrative decentralization right economic the community has some influence or say over revenue or expenditure we now have the marketing Dow the development Hub we just heard from and creatives da who all have budgets and a grant system to help decentralize economically the protocol but then lastly the UDC likes to look at the tokenomics of a protocol if there are any at the moment with near there was an initial sale so sold through an Ico in April of 2018 which helped fund the foundation and the protocol itself but that's pretty centralized right use cases however the token itself is a utility token that's used for staking gas and governance so we're seeing some utility in the token it's not purely speculative and then there are no rights and values it doesn't act like a stock certificate right you don't have rights to any Revenue you don't have any attributable value coming forth from the operation of the protocol to token holders so maybe it's a little bit more decentralized than that Ico comment would necessarily indicate and so near Arc of decentralization started off blank there was pretty much tight control within the near Foundation as it um built the protocol and then into its Ico it had the funding you see that that point there is close to funding still close to control not anywhere near community and decentralization and as we see now at a current point it's moving towards that community in that optimal decentralization sphere so we can probably say that the near blockchain is arguably a public good or rather infrastructure if you prefer that term however despite the Leaps and Bounds and development over the last8 months there are some areas for growth and progress and that's going to become very important as the regul regulatory Spotlight begins shining on the near ecosystem so the regulatory touch points that most people focus on and we agree with as well are front-ends on and off ramps centralized and quasi centralized Financial applications and DOW rappers you know if you create an entity to encircle a dow to give it legal personhood or even voters if any of you follow us uh litigation in Uka the cftc went directly after the voters themselves but that was a particularized case with some Nuance but again back to this inflection point questions will begin to be asked of the corporate structure development implementation and funding like we've just covered but will also be asked about regulatory interoperability which we'll cover in just a few minutes so now that we've talked about near decentralization let's talk about moving into the future with boss as you all know boss was launched in March with six pillars fast author authorization development enablement Universal search gateways content moderation and near tasks with boss comes three wonderful attributes that I think are being pushed heavily this week rightly so interoperability democratized development and Open Access and control for interoperability we have to worry about a few things though first of all as you work across the you know digitalized Ledger environment and you become interoperable and cross chain you tend to inherit the traits of the the many change you're working on as you build an app or a project because of that we have to consider when building in Boss are we going to establish a minimum set of standards that we'll require when you build and when you move across chains or will we have you know um fall to the lowest common denominator if we want to in EN enforce those minimum standards will we do that through boss can we build it into the modules themselves can we do it through the community how will we do that then we also not only do we inherit traits we increase the amount of vulnerabilities that the ecosystem may be subject to so if you have a vulnerability on another chain or an L2 what does that mean for what's being built here on near and will that vulnerability bleed over and if it does that means in the exploitation of that vulnerability will Ripper Ripple through the ecosystem and if it does how will we know so maybe near governance the near governance Community needs to set up a monitoring tool or an information repository where people can understand what these vulnerabilities are and how to build around them then lastly as I said we we get to regulatory interoperability jurisdictionally it's a global blockchain right so you're going to have to work across the world with different regulators and have to consider all of the regulations that you're subject to then regulatory regimes defi blockchain crypto we like to remove intermediaries right and we work without silos well the traditional Finance World works with intermediaries and silos which means Securities and um Commodities don't mix together right they're kept separate lending and payments are kept separate that's not the same here so what are you subject to if you build something that combines those functions right does that mean you have to answer the SEC and the cftc in the US does that mean you have to answer to the FSA in the UK and also the EU or the French authorities or the Portuguese authorities and how do you build for that then I'm going to move through these very quickly democratized development it's a great attribute can we encode decentralization into democratized development with boss similar to building um standards into modules can we make sure open source is enshrined in in the boss ecosystem and how do we do that it's admittedly difficult if it's a truly open development environment people can build with open source code but they can close some of it off too because it's open and then variable control and user autonomy is built into democratized development however the nature of boss means that it is that it is built in a decentralized manner and V with variable control but it also means that developers can build centralized apps and platforms can the community influence this socially or economically through near tasks or other elements lastly access and control current access points the near Foundation primarily controls Fasto at the moment but others are building and hopefully we open up those access points the boss system and near governance how can that interact together how can these four new Dows come together and affect the boss ecosystem and then lastly will boss and will near tolerate centralized development through boss and if not how will the community come together to enforce that principle it's a little bit um philosophical but it's something the community needs to to Grapple with soon anyway thank you I know it was quick if you want to analyze your own project or your own build we have is it decentralize doapp which is a series of questions that leads you through this analysis and will give you a number score at the end of it um and you can use as you build so then lastly I just want to say you know while the blockchain seems to be nearly decentralized please keep all the four going in mind as the new community leads the world into the open web like a boss thank you okay ladies and gentlemen thank thank you so much to uh John for taking us through that really insightful I can see some people from the Balan region are mischievously heading towards the front row and this can mean only one thing hopefully only one thing hopefully you don't have any fruit to throw at the uh the next speaker because he is from the Balan region uh it's a gentleman called Mr Sandy ftic and uh he's working for a great organization called caliro and he's going to be talking about what to build next on caliro and boss and so let's give him a huge welcome wrong slide but let's start with that everybody thank you for coming here my name is Sandi fatic um and I'm the CEO of calimero network I joined the near ecosystem four years ago and I'm going to give you an Insight of what to build next on calimero and near before that I would ask you a question please raise your hand if you care about data privacy and data ownership right many as expected the ones who didn't raise the hand hopefully I can change your mind with few ideas but we have to to start talking about web3 and the open web we have to look at what the internet looked like and what happened in the last 10 years and if you look what the biggest investments in in the 10 years in the IT industry were and Innovation was software as a service it was great you get the ability to move all the services which you didn't want to run internally to somebody else and pay a fraction of the cost but many years after we get to a point where software as a service is stuck as a service you cannot move out you have to pay high fees you have to pay you know crazy amounts of per seat per whatever and the value is not there anymore so the worst thing we are paying all these services but we ended up in a situation where all this data is essentially getting stall and getting leaked everybody is giving data to companies like slack like I'm not going to name names but many others and essentially what happens the data gets leaked third party Services get compromised and essentially we are paying them to lose our privacy and we have to change that so how do we change it the only way to change it is to self-host it and everybody here in the room is going to say why would you self-host it isn't that crazy like we move from on premise to Cloud to you know software as a service because we didn't want to host it but if we actually care about it that's the only way and I'm going to tell you what we do differently at calimero so if you look at currently you're a company you want to have all the data ownership inside a company what you would have to do most likely you would have to pay high license fees pay a $50,000 license to like $20,000 license to this guy another license another license another license unlimited Services you have to run at the same time what do you need you need a team a devop team to run it you need multiple databases to be run at the same time you need many microservices it becomes cumbersome and that's why nobody wants to use it but blockchain we always talk about thrust we talk about uh immutability we talk about many different things but me coming into the web three four years ago as an infrastructure engineer working at Facebook then later on working as the infrastructure engineer uh at near the Pagoda team uh I saw something differently from my perspective I would say and like what blockchain is really good is to provide you one environment which you can run all your microservices or smart contracts inside so instead of having to care about every single database every single micros service every single front end you just have to sure that the network is running as long the network is running all the applications on top are going to work fine and then boss and calimero like what's the intersection what can you do on boss on near which you cannot do without calimero first of all if you build a Boss application all your data is public so what you get with us you get the ability to store your data privately secondly you'd have zero control over what the network near looks like it's two second block finality is this many gas fees is this many that in our case you customize the way is perfectly tailored to your use case Zero gas fees users don't have to pay to get the benefits of using a blockchain service and secondly people will say Sandy it's a centralized service it's a Federated system it's not so decentralized but does that really matter what is the problem we are trying to solve in some cases a centralized server will work in some cases currently we have zero knowledge maybe we can you know prove some of the cases federates assistants maybe you trust five banks more than you trust One Bank you know do you trust more Banks yes because there's a like less likelihood that it will go wrong and lastly it's managed like you get full control over what's happening inside your network and today I want to announce one thing a community Shard a community shart is essentially a private chart to which we run we are running uh it's run by several entities from the near ecosystem um and it's essentially your portal into the open internet into the open web what does that mean users can come and try new experiences without ever knowing what is blockchain and blockchain users web three users can deploy new types of applications Bobs applications for free and just start using it obviously we cannot provide services for everybody so it's going to be probably rate limited and eventually as your community grows as your use case grows you will have to spin up your own chart and migrate so please start um using it now uh portal. cal. Network and the first use case we built on on the portal is a chat obviously everybody will ask why to build another chat or how can it be better than slack and right now at the moment it's not better than slack it will eventually become but we build it in a way to show people that you can build real live world applications with good user experience which will eventually replace the others so you can scan the QR code yesterday was not working today it works we fixed the the issue uh yeah so please scan it n more minutes uh but I wanted to also take you one more time back back back to the future I call it back in time when we started the internet we started with open protocol like IRC you had a standardized protocol which you could use you could build clients on top of it and it was open for everybody to use then later on WE migrated to slack and now my idea is that eventually we will go back to the old ways like we will be have protocols which will Define how open web applications can interact and interoperate for example you can have one same messaging protocol built baked into the calimero network but you can have different boss experiences for the same user on one side you can have a community chat where you can run you know your discussions about def have Integrations about whatever but on but on the same set of contracts you can also build a customer support channel so same back end kind of in a way but different experiences and they should all be interoperable reusable and integratable U and open source and like one thing which we're trying to push in the web3 industry right now it's a new maybe maybe not A New Concept but like we we we want to see it happen um is essentially to define a set of open web standards like we did before for chat we had a standard for forms we had a standard for task we can have a standard for docs wikies so all these applications can eventually interoperate be reusable and well like very well defined uh and the reason why this could be why why this is important in my CA like my uh my view let's say uh we have reimplemented every single thing endless times again if you look slack if you look you know hopspot if you took uh teams all these applications are essentially 99% the same we have endless developer resources going into the development of the same things and with open web standards we can just build different experiences for different users and maybe eventually we can just ask an AI to build different experiences for us let's say I want my select channel to be green or ask my select channel to be different or whatever so like building this components should be pretty much easy like currently if you look at the near ecosystem there's a project called Jutsu AI which already does this so it's like you know almost there and I wanted to mention that the future is open source we have seen that now with you know jgpt close Source everybody is concerned like what is happening in the behind we see open AI models coming up we see open web applications open finance open everything the question question is like how long will it take in our case um you can see like everything will be open source we want to have yeah different noote experiences customizable front ends standards and the business model is built around a console so we have a developer consoles for developers who want to get into development for hosting for Enterprises so they don't have to do this that by themselves um and what's coming next um so yesterday announced the ZK was improver so this like a little bit of technical stuff so the things we are working on um to improve our current setup so we build the application and we backtrack uh we back like I think like one thing to say in web three usually people people are building infrastructure infrastructure infrastructure one one layer after another and the problem is nobody's really trying to solve a problem and if you look at any company in the past Facebook started as a you know three servers in a door room that it was 10 servers 100 servers one data center 100 data centers and they scaled up and fixed the infrastructure and the problems and optimized it for that specific use use case and the thing why I think we don't have many applications because people start with protocols people start with you know operations and they never really tried to build an app and that's why we decided to build more and more apps and then optimize our experience for this type of applications and several things we are you know we realized we can do is like obviously inter with the Z ZK was improver uh protocol lever encrypted State So currently for the encrypted state of the chat we have to have a manual uh service which does this a contract which does best we would like to extend this for any type of application inside the open web standard later on to have P2P boss runtime So currently we have a mini service which uh distributes the messages peer-to-peer uh but eventually I would like to see that you can deploy a contract and natively it knows how to uh render these uh optimistic change es on the client side and like few things which I wanted to mention uh we integrated two wallets currently user experience is very important we have the miner wallet on the other side we have fast thought fast thought allows anybody who's not a web3 user to onboard uh into the ecosystem and start using web 3 but also we have a lot of other wallets coming uh soon so we are working on integration with sender wallets wallet meteor wallet Ledger metamask and hopefully other ecosystem wallets so like user should decide which wallets and which applications and how they want to use them also we have some Enterprise projects in the pipeline building on top of us uh so for example we have two in parcel chain working in the logistics um and parcel delivery system like yeah par not system but Industries uh and we also have projects like Spin and tuno which are more web tree oriented on the defi side and to tuno like you know more on the nft so like we really want to be let's say the layer two scaling solution and privacy solution for boss and allow like any use cases to be built um and like the question is like what what can you build like I spend you know 12 minutes talking about like what can you build on the boss what should you build on the boss and I think you should build anything you want if you want to get to a state where open web is accessible to everybody is usable by everybody we should be able to build as good good experiences or better in the web three space than they currently are we should be able to integrate features and functionalities which will not be able to be integrated before possible before I mean thank you for the time uh if if you really enjoy this presentation and you think this is interesting to you uh please come to talk to us uh at our booth and if there's any questions unanswered I'm happy to answer them thank you oh the naughty Bulan people are now leaving after Mr fatic has finished his speech you should stay for more thank you very much uh Raa vanuno so um that was uh great to hear from our friends in the Balan region it's been really International we've just covered so many bases today uh and that's going to continue uh our next guest is from the herbit foundation and nice story about these guys is they had their uh conference here as well very recently so our next guest could have saved a fortune in hotel fees by just living on this stage uh so we're going to welcome him back now representing us here in near uh Mr Sam and RZ cool thank you good afternoon everybody so I'm here to talk briefly about herbit uh the open web and some of the work we've been doing with the near Foundation over the past three or so months uh in support of that Vision so first off uh well I sort of thought I could Advance a slide there we go so what is herbit urbit is a very old project with an enormous scope uh I could stand here for hours and give a long- winded technical explanation about the konel uh you know uh our networking protocols our identity layer but this is a short talk and I was thinking about how to best describe it uh when I was rewatching ilas talk yesterday and I like something he said it's what urbit does urbit is a place to store personal data to do peer-to-peer interactions and to run groups the way that we do this well what it actually is is a personal operating system that as a first principle makes it easy to write and run peer-to-peer applications the urber kernel solves all the hard problems with implementing daps networking identity um code distribution and it allows developers to focus on the business logic right now I believe that urbit is the easiest way to build real decentralized applications no hand waving about what's coming from where or who's serving what or you know where any of your interactions are coming from so why near and why been have we been working with the boss system well you're all familiar with how boss works but I'd like to take a high Lev look at some of the characteristics that boss has and compare them in some of the characteristics that IRB it has and I think this makes it pretty clear boss runs off of public front ends everything is on chain everything is legible and easily available boss is one part of a larger regimented comment herbit on the other hand focuses on personal backends scaling things to the user level and not necessarily exposing them to everybody boss does its Distribution on chain everything is up there for the taking and lives there permanently herbit does its distribution through a peer-to-peer Network and necessarily never touches any Central repository whether that's a data center or a chain more conceptually boss Runnings are ephemeral right they live on chain and any uh updates any State updates any information that you would like to add into it has to live there as well and um when you're done with it you return it from when it came on urbit everything is persistent and we believe that in a very strong way herbit is a function of itself and every event that happens updates your urbit event log uh such that it's there forever and so keeping these uh high level and frankly reductive principles in mind I think a pretty clear picture or at least a possibility starts to emerge the D of Boss front ends coupled with urbit backends self-hosted front ends with data pulled from onchain um in the general case enriched by specific private and personal data and augmented with the functionality of a personal server and a peer-to-peer Network now this is a pretty new partnership I first learned about near only a few months ago we've been making rapid progress and the first thing that we're hoping to unveil at this conference is that any boss Gateway can now be an urbit app any boss Gateway can now be distributed peer-to-peer on the urban Network it can be entirely self-hosted and is now the first time completely decentralized you no longer have to worry about about uh man- in the-middle attacks with your uh with whoever is providing you the Gateway you don't have to worry about whether the code is actually what they're saying it is now you can self-host it you can pull it from someone you trust and you can share the Gateway yourself on the urban Network I was going to say scan the QR code but rather head over to bit. start and one of our ecosystem companies will onboard you to the urbit network and you can join our group near X serit we'll be posting more information on how you can download our first implementation of the n.org Gateway how you can pull it onto your on to your herbit instance how you can share it with your friends and how you can start uh using the boss system in a completely decentralized and Sovereign fashion and this is cool this is a real meaningful step and an upgrade in sovereignty for the boss system and for the open web as a whole but it's still just the first step in that direction so what's next well one of the things we're most excited about is what we've taken to calling urbit aware boss components right now we've made it so that you can serve a Gateway from an urbit ship and you can have your components being served from your own server but wouldn't it be great if it served like a truly functional backend where you could actually uh take advantage of the urbit operating system what we're going to be doing along with several other things over the next few months is making a fork of the near social virtual machine which is the VM that uh boss runs in for now uh and we'll be exposing a custom urbit urbit object to go along with the other four custom objects and what this will allow for is for Boss developers to make components that will be able to recognize when they're being served from an herbit ship and then take advantage of that fact and make calls into the herbit user space uh in order to retrieve private personal data that you might not necessarily want onchain in this very early and not yet determinate example code we have um hypothetically someone calling into an app that we call Pals which stores social graphs on herbit this is information that you might not want everyone to know but it could be very useful for a boss developer another easy example app would be a notebook where you might want to have the interface stored onchain and you might want to have some you know onchain social features But ultimately you don't want your notes living anywhere except your own personal server we'll also be moving quickly on the on Federated RPC provision Services right now we default to one of many centralized RPC providers like most blockchain products in the future we'll be taking advantage of the herbit network and its Federated architecture in order to provide meaningfully decentralized RPC services that way uh not only are you certain that the code you're hosting is on your own server but the calls you're making are trustworthy as well lastly we're hoping to implement a more thoroughgoing implementation with the near blockchain right now everything we've done and everything that we have tightly scoped out is based around the boss system um which is good there's a very clear story there with front ends and back ends being married together but over the next few months once we've done the VM fork and once we've gone ahead with the RPC infrastructure we're hoping to provide a standard way for urbit developers to take advantage of the near chain lastly I like to to finish up uh by revisiting the idea of the open web like Ilia mentioned yesterday we used to have something that looked more like an open web protocols took precedence over platforms users often tended to run their own servers rather than being silent into centralized data centers and at the time it seemed like the backslide into the client server model was not inevitable thus far we've been very casual about the way our computers and programs have been designed a mindset that I think no longer plays over the next 5 to 10 years we can expect that the digital Commons is going to become overrun with uh self-generated content that's indistinguishable from you know what we might expect a person to make the commons will become fundamentally untrustworthy right and the open web uh as we currently understand it or as it was understood perhaps 10 years ago will will completely die if we're to retain our sovereignty through this we cannot be so careless with our digital identity and the way that we use our computers in many ways I think that Urban and near have been approaching this problem from opposite directions for a long time near provides flexible onchain protocols and standards in order to create a highly legible and regimented comments whereas bit focuses on reinforcing the sanctity or even the sanctum of the individual removing the requirement that in order to take even the most trivial action on your computer you expose yourself to a broader ecosystem of platforms and predatory individuals at large over the next couple months we'll be moving on a number of important pieces of infrastructure that will allow boss developers to take advantage of urbit in the urbit network all boss developers are going to have access to a structured backend built around sovereignty they're going to be able to take advantage of a peer-to-peer network uh and they will no longer have to rely on centralized RPC providers even more so than a technical partnership though I like to think of this as a alignment of philosophies we've been working on the same problem from opposite directions and both of us for quite a long time now and I'm looking forward to seeing what happens when we meet in the middle uh we'll be we'll be here for the rest of today and tomorrow showing off our new app and uh you know looking for more apps to put on herbit um we have a booth over in the hacker headquarters uh and we'd love it if you uh came by and talk to us um thank you very much check thank you so much for that and uh great to have our partners from the uh herbit Foundation here so the good news ladies and gentlemen is you now have a a toilet break or a coffee break or a cigarette break or all three combined I'm not here to judge or to check up on any of you go and do as you will 10 minutes 10 minutes starting from now uh so please be back in 10 thank you so much nah n n e n a please welcome our MC to the stage near foundations David Morrison all right okay listen few more hours and you can go get pissed Oh wait we're live on YouTube I don't know if I can swear it it's done now isn't it okay um right we're about to start the uh incredible AI track so raise your hand if you've ever used AI all right you're all getting sacked soon um okay so we have an incredible panel it's called called building at the intersection of web 3 AI and we have your wonderful moderator subin an who's going to introduce your guest so give it over subin okay okay hello good afternoon so I'm really excited to be be here because today's topic building at the intersection of web 3 and AI very amazing topic and I really honored to be with this wonderful panels so let's start with introducing each other so start with Julian could you start with your introduction so my name is Julian Balu I'm U the founder uh of state capital group we invest in the space and we also build and incubate a bunch of different projects my name is Olga felm um I'm co-founder of several companies um eloni is my current topic of focus and it's uh decentralized EI infrastructure I'm Matt Stevenson I'm an economist by training and I'm the head of research at pan Capal Matt could you please mic more because should we try again okay yeah all right I'm Matt Stevenson I'm an economist by training and I'm the head of research at panta Capital and my name is uh Dr James tremans uh my background is actually in AI but I currently lead Google's web 3 efforts from cloud okay great we only have 20 minutes so just go straight to the point so before we go to the intersection between web3 and AI I the web 3 and crypto AI this is very highly secured for the last 10 years I think so I just wonder what key value do you primarily focus on for these keywords web 3 and AI so why it is important for you and these words how about sty James sure well I think um AI has been knocking around for a long time and in we've seen a lot of technical progress recently that's going to affect society in some very deep and Broad ways and of course Google is an AI first company for a long time has been making ongoing investments in that space and we externalize those Investments through Google Cloud so any business can can take part in um this uh Renaissance and and Revolution and then in in much the same way I think web 3 has uh similar amount of innovation that's happened over the past 10 years obviously a lot since 2016 but it also has a lot of promise to how it can improve and uh impact societies as well both from the outside in thinking about banking the unbanked and so forth as well as improving existing Capital markets processes um by by working from the inside out and so it's very interesting to naturally think about the intersection of these two things and as we will no doubt discuss it's AI for web 3 or is it web 3 for AI or is it both cool definitely yeah I would say uh obviously there's some similarities between Ai and web 3 I think we took the sort of winter thing from AI right like there were AI Winters for a long time that sort of described these downturns and we borrow that in crypto crypto winter so there's something similarity or sort of similar about um the two areas but I think in particular like with the emergence of obviously uh you know the Transformer which we're familiar with for for reasons not unrelated to the conference and um and you know obviously the excitement around GPT there's just some interesting areas where it makes sense for web 3 to help Ai and for AI to help web 3 and I think both of those are actually really exciting particularly excited about the ladder I actually think crypto has a lot to offer to AI maybe some tech technical sort of ways we'll see if we can uh cover those without everybody falling asleep but uh but yeah maybe we'll talk about it later cool yeah so I think it's match made in heaven because you know everything that we have built in 10 years in crypto matches very nicely the demands of you know AI Pro projects and models obvious examples we have decentralized Computing decentralized storage encryption segregated learning and with all of those Concepts we are able to build even a better decentralized the right so this is really amazing intersection oh well yeah as mentioned I think I is a powerful tool but for now they are different a lot of different aspect of AI that can be very dangerous such as data uh uh security and all different things and in in a blockchain space the same you have a bunch of different activity and you don't really know how to filter the type of activity so AI could actually help so AI in in in blockchain could be a very good feed for uh providing and enhancing security across the two different worlds cool so we have a very common thesis for these three C so if we if I had to categorize in two parts with building the intersection of the we AI it could the first one will be blockchain enance Ai and second will be AI enhancing the blockchains so I just want to start with Julian that how could blockchain help AI ecosystem because you already had founded the AI and blockchain Company before so could you share your experience so um long time ago in the defi space of course always uh before defi came up I was building a project that was analyzing data from space um so using machine learning model that could um extract value from Real World asset for example the live production of coffee in Brazil and then sell that data to hedge F so they could place bet on the market knowing in two years or one year the production of coffee will be better in Brazil or Venezuela whatsoever um so the point is the way you can um so it's blockchain helping AI or AI helping blockchain blockchain helping AI yes so blockchain could really I think the biggest goal of of blockchain in AI because AI is the data securization um we are using a bench of a lot of data to train AI but we don't really give back the value of that data back to institution or people that generating this value so I think blockchain could unlock a lot of value for the data aggregation to teach train or enhance the AI capability so it's really about giving back the value of that data back to people using blockchain to train the next generation of AI because if you look at um all the AI system in the world that have been built in this uh I don't think any value back to people was actually distributed yeah I think it could be related with Federate learning or iot stuff I think right yeah how about Olga do you have any idea for for this one blockchain ining to AI well if you look at what's happening like in AI outside of crypto right like you know we need to catch up right like you see all of those you know general purpose llms having been built millions of people are using them but even you know specialized models right are being built like for example Bloomberg uh GPT right with 7 billion uh tokens 50 billion parameters right and it works it's amazing it's proprietary dat data there are a lot of specialized models already you know for e-commerce for you know different Industries but n yet in in crypto right so we really need to catch up and this is what we currently focusing on okay how about Matt well so I mentioned this is the area I'm especially excited about and if anybody is interested in the like technical stuff and you're at the big AI Conference next month in New Orleans called uh called NPS come check out my talk we got a paper accepted there on uh how how crypto helps AI so that's sort of long and short of it I I mentioned I'm an economist so I'm going to try to not be too uh too like game theoretical in the answer but essentially what it amounts to is that there's certain assumptions that get made in the development of AI such that when you turn them loose and try to do Cooperative AI where one AI is interacting with another there's just sort of like classic game theoretic exploits that aren't really well handled in the AI literature because you just didn't have to right you you sort of controlled these things when you start to turn them loose it looks closer to a concept like me right so maybe many of us are familiar with that right like the Galaxy brain take on me is that it maps on to these sort of like unintended consequences and that's sort of of what it's going to look like if you uh use the let's say naive um external regret minimization reinforcement learning learning in crypto or uh nii and you assume they're going to cooperate along those Dimensions cool I think that's a really interesting point so I think at the kind of higher up the stack when you have interacting agents um and they might have a uh you know you want to drive economic incentive for how those agents behave with respect to one another I think crypto can help facilitate that for sure um but I also like this idea that you know if you want to combine web 3 and AI such that imagine you have a wallet imagine in your wallet you have your credentials and your data um those are digitally signed documents by your bank your your company of employment your mortgage provider who whatever and you could ask an llm to go and get you a new mortgage or a new insurance or a new whatever and because your data is local and maybe this llm has been optimized to run on your device um no data's left anyway it hasn't gone and it can go and negotiate on your behalf um to get you the best mortgage refg Ates in like a reverse auction mechanism or something they bid back into you and before you know it the llm has presented to you uh a a set of three choices and you're in the loop and can make that decision and so there's a little bit of AI for web 3 and web 3 for AI because you could also Imagine provenance you can imagine U multiparty computation where maybe there external companies need to work together on something um it it gets interesting very quickly but of course there's a bunch of stuff that needs to happen before we get to that especially around identity so Julian more focus on data collection and data process level and three of are are more focusing on in like in like interface rebel I think so I want to start with this question with Olga that how AI incing the web 3 ecosystem because you recently pivoting your items to AI so how could be support the blockchain system with AI yeah I think you know guys like we probably all agree that one of the biggest hardles to mass adoption is uh uix right defies very complex very difficult to use right if you're not in the space like dealing with your keys and sending to the right addresses and bridges and all of this right it's a complexity normal consumer investing in Tech stuff cannot uh um you know cannot deal with so we you know we said okay how about you know we can create and you know meta layer for transaction where you as a user don't need to like trade and push buy and sell you can just talk right you can talk you can say okay find me the best bridge and find me the best yelding pool and send my you know Issa from Kraken to through my you know metamask to best yielding pools right you just say that and the magic happens so this is what we're building and I think this is this is where we can you know change like you know how difficult it is for people well making it easier for people to invest in Defi and be part of our ecosystem so do you enjoy the Sam alman's recent like video the gpts do you enjoy it yeah awesome awesome it's actually you see it's kind of like they're doing similar things it's just different specialization right whereas uh CH GPT and open AI it's like massive general purpose models right we take these models we tune them for the purpose of crypto right and it's guys it's all about data right so you need to input a lot of good high quality uh industry specific data we have all the analytics on chain data and we have it all for free right we not like you know traditional Finance where you have to pay for all the data right so this is amazing and and you know on one side we need to build the infrastructure so those fine tune specialized llms large language models right on the the top of which you know we can then build the applications for users right and our power in crypto Community is that we can do it together you know to to to train a good specialized llm models you need hundreds of millions it's so expensive you know GPU is expensive data is expensive everything like as a startup you cannot do this right but in crypto we have decentralization we can submit the data jointly we can train the models even raising right like like our ecosystem just just is cap is capable of combining and creating value in this decentralized way and this is why we're going to win okay cool I think we have not much time so I think many AI like AI in blockchain will be mentioned by next panels or something I want to jump up to the what is the hle for the AI and web3 intersection so in here there are many overhype keywords in here like in my case I think like prevention the de is very hype keyword for me because it is not it couldn't be solved as a blockchain so what kinds of things are overhyped this area could you like how about met do you have any idea of this well things are overhyped in web 3 AI or both would you say yeah like intersection uh at the intersection of web 3 and I it's a good question I mean I think there are things so we mentioned some of the some of the like data models earlier I wouldn't say it's overhyped right but like like like data marketplaces are very difficult to implement um so that's not one of those that I would say is not going to work like I think it will work it's just one of those where if somebody gives me the job to design the incentives I'm like oh no please do it to somebody else it's very hard right but uh but it's obviously in some ways like one of the biggest problems and and ZK proofs help to a decent degree like proof of compute sort of stuff right but like the the data market stuff is just is just a sort of like classic hard problem right because you have this issue where if I try to if I sell you my data you're instantly a competitor with me where now you can sell the same data to somebody else right so it uh a marginal cost of this stuff approaches zero very quickly um just difficult to design markets around so I would say that's the one that's the toughest nut to crack uh right off hand that we sort of talked about cool Julian do you have any idea of this like technical hles in this area um what the problems of blockchain and AI together yeah yeah well I I think the major problem is uh making sure the the the AI is not trying to produce its own data and then blockchain will consume the data but the data will be completely uh polluted and then you I think this is um people building machine learning is in AI are actually scared of is when you open an open economy where agents can get paid to do things at the end of the day they also producing the type of data so at what at which point this data is being produced by machines and not humans and then maybe you can get you can downsize in quality of next machine learnings uh in the next models because this data is not actually uh accurate or very good data so there could be a point where the model and this was explained by CH GPT uh founder Sam where Maybe the model that we have created is the best model because this is the best quality data that we could have access to but moving forward this data could be potentially affected by kind of virus or any type of things like that so there will be a way for the blockchain economy to attack the data quality or the data layer and this is actually a big problem guaranteeing the quality and the currency of data so you most like mostly focus on data side right data collect for me it's like yeah okay there's a hype in crypto there's a hype in in in in U in in in AI but I don't feel like people I mean it's a big risk you know trying to guarantee that people are getting paid for the data they're producing and trying to guarantee that um the AI is actually serving people and not evolving by himself and serving purposes because of AI and open data I think we really need to focus on zero knowledge proof on the fact that um people can still exist in a way that they're producing value and they're getting paid for the value and not big institution big Enterprise worldwide sucking the value of people to train those sayi and getting more powerful I think this is the biggest risk right now so in this point I want to hear from James how about how do you think about this one yeah so I mean it's an interesting why James because of Google or yeah Google Cloud as a cloud service yeah yeah I mean well obviously as a cloud business our role is to make models available for businesses to build on them to have their own products and services and specialize and so on and so forth I think um there's a very real reality that in order to train these models you need a lot of compute and you need that compute to be together and connected over infin band or some type of high performance High throughput uh interconnect and so actually there are very few organizations in the world that have made that investment and so there are it's natural that there will be a few people that can do it very very well um so you know our focus is making sure that the models we're building and the models that other people are building are accessible to everybody so everybody can get the value out of them and that's one of the uh I would say positions Google cloud has taken is not just to make its own foundational models available through the platform but also the foundational models provided by others as well cool so we have only one minute and a half so you you are also Builders and Founders and supporters and here and here are many potential Founders and Builders and here so could you share a word for them for this area how about start with drillion yeah I would say if you looking to build something in AI in blockchain try to focus on the product rather than the the Buzzy world so trying to find and identify an existing problem where you can tackle this problem with AI or blockchain it's uh I mean those two technology will be transforming Society but whether you can actually use both of them is very complex I would say at the moment we seeing a lot of decks and presentation where people like to mention those names uh but they're actually not solving any problems so try really to focus on the product that's solving real world uh problems and then you can see how this technology can help you achieve this Mission well here's my call guys you want to build the eye better decentralized a join us Elon AI is a project you know whatever you can do you know better data sources you know whom to follow you know where to look for Alpha you can you know submit data you can validate the data you can con context right so putting the data into context explaining to the model what this data means we need all of people's you know helping to build a decentralized DI so if you're interested in this type of uh engagement check it out El register and uh we'll be happy to see you on part of the project cool how about Matt yeah I just Echo what they said do it I mean I think there's there's some real opportunity there in both directions if you're an AI person I think there's very cool opportunities to build in web 3 and if you're a web 3 person um yeah similarly solving some problems in AI it makes sense there's enough of an overl Pi there's a lot of opportunity go for it Jam my my quick comment would be um really focus on value differentiation because a lot of the AI and web 3 use cases is just AI for any other problem whether it's writing software or helping you query data through natural language this is already possible web 3 is not unique um so focus on something which is truly only relevant at the intersection of web 3 and Ai and then you'll have an interesting value cool not enough time for discuss all of thing but very insightful panel so please give a big round of applause to them and thanks a lot all right enjoy it yeah enjoy it yeah you did okay brilliant right well the next talk is going to go even deeper into the world of AI and then the one after that even deeper and deeper next up we have the wonderful and I hope I don't ruin your name I'm sorry um mamuk araki uh on AI and blockchain and how that is going to equal the future of work so please give a big round of applause okay well hello everyone it's great to be back here at newon um with all of you here in beautiful Lisbon so my hope is that this talk will ease us into the theme of how Ai and blockchain intersect so a history of AI and blockchain can be told through the game of chess in 1997 an AI chess engine called Deep Blue famously defeated Grandmaster Gary Kasparov and deep mind or deep blue wasn't intelligent per se it couldn't produce strategy but it could calculate over 200 million chess moves per second so this was a watershed moment where AI caught the Public's imagination and since then AIS have defeated the best players in games like back gamon Jeopardy and as portrayed more recently in the Google Deep Mind documentary go here we see the champion Lee s all capitulating against the alphao program so we're captivated by these battles for Humanity seeing generational talents humbled by the Superhuman skills of AI when Lee sadal retired from professional play in 2018 he stated that he could never be the top player of go due to the increasing dominance of AI he referred to them as being entities that cannot be defeated so as the saying goes technology is a mirror and when we look at a reflection what do we see whatever it is it is humbling in light of AI we're realizing more than than ever that humans are endowed with modest cognitive capabilities and for the time being and with a degree of caution we can safely say that AI is endowed with less as John McCarthy lamented as soon as it works no one calls it AI anymore so cognitive scientists once believed that studying the brains of the best CH players would reveal the golden secrets of human intelligence to defeat Alpha Z which is the best chess engine in the world today you'd have to make a move so brilliant as to defy all expectations such AI research shows that human intelligence is one part computational brute force and another part more creative intangible so AI or the designers and developers uh developers of AI value surprises that is when you've taught it something in financial terms this is an Arbitrage of intellectual Capital so at the moment we have this opportunity to trade our human skills and knowledge for money the AI wants our knowledge it wants our information knowledge maybe eventually wisdom and of course we want money and note that this is already happening this is a picture of a Mechanical Turk which is an automaton chess player which was invented in 1770 as you can see there's actually a human being inside the box masquerading as the robot but the Mechanical Turk is the namesake of Amazon web services crowdsourcing platform and AWS has created new labor markets to monetize the human skills and knowledge necessary to develop AI models there are a lot of problems with Mechanical Turk not least of which which is the underpaying of the labor at the same time it's also been a boon for various researchers academics can now uh perform studies with people all around the world they're no longer limited to the undergraduates in the universities that house their research labs and here's what Yan laon who won the touring award for his work on convolutional neural networks and computer vision has to say on the subject he tweets human feedback for open-source large language models need to be crowdsourced Wikipedia Style and it's the only way for llms to become the repository of all knowledge and cultures as we know today AI is centralized and biased towards the English language and Silicon Valley so there's an imperative here at a global scale what we're seeing are gig and Creator economies On The Rise and this signals new ways for people to monetize their skills in the ongoing trend of digitizing real world assets you can think of chunks of human intellect taking on the form of these digital assets and so this a technological question what are the technologies that can be accessed on a global scale which are capable of transferring value between humans and and machine agents and I think you know where this is going naturally this leads us to blockchain so blockchain is assumed to provide all of these different solutions to the world's problems many of which we found to have failed some of which have succeeded um but one thing that we know that it's good at and that it's endured is that it's good for making markets and in this case the markets are for Global intelligence so if you look at these first drafts of regulations being proposed by governments around the world regarding AI there are mandates for data privacy there are mandates for safety mechanisms and risk uh if we look to blockchain of course there is the need for those principles that make human collaboration and compet uh competition fair and transparent and they must be reflected in the mechanics of the game and of course the technology needs to be efficient because it needs to address the problem of underpaying humans for completing these human intelligence tasks so here is an idea graph hopefully that can start to illustrate what this Market looks like so the market for crowdsourced human intelligence is two-sided on one side we have the task providers these would be AI companies they have provisioned a bunch of data they need them to be annotated with the knowledge of humans and of course they're depositing some money to compensate the workers who will be performing this work and on the other side we have the workers they come from all around the world they span demographics uh one interesting case is that you have retirees who take this uh kind of work because their benefits don't cover their cost of living in in the later part of their lives and from the perspective of Game Theory both sides will attempt to pull the rug from under each other a worker could produce junk yet feel entitled to earnings and a task provider could receive quality work but withhold pay by claiming the opposite so each side will devise strategies that the others can't thwart and this is known as the mini Max principle and what these uh technologies that we build these decentralized Technologies do is that they keep asymmetries of power in check it's the goal of the mechanism design and so what here what we're trying to show is that work will be assigned by the provider to the workers based on an evaluation of their competency or they can hand select them um this is basically a security question what kind of proofs do you need to create this contract of employment between two parties you could do proof of authority where you have one uh entity handpicking people but as the industry shows this is an onerous process it's costly um you can do something like proof of stake where people stake capital in order to have stake in the game but given the demographics these people don't have money to stake they're making this money to uh make a living so the work must be submitted without cheating and in turn it must be evaluated fairly and be compensated for so there's an interdependence for the system to work properly you have to reform What's called the central inspection principle this is the idea by Samuel benam um that talks about how you can efficiently manage uh a large number of people with few supervisors and you ALS also need to maintain civil resistance a concept we know very well in blockchain uh so that workers can't spoof the platform so this is Loosely analogous to a proof of work uh model where the work performed well translates to earning reputation which leads to accessing further opportunities and we can commit these proofs of work and start to measure reputation on the chains and so here's just a video animating the distribution of tasks t uh workers working those tasks submitting them to the market and eventually they get paid once you start connecting these markets you can start to share reputation inherit them markets can begin to talk to each other tasks can con converge you have all of these different uh Market Mechanics for across the across the two sides so we've had crowdsource knowledge for decades and what we're doing at near tasks is an iteration of existing ideas but in a trustless and permissionless context of blockchain so economies will be predicated on the potential and the capacity of both humans and machines to learn and our mission is to make them inclusive and fair markets and soon enough intelligence of all kinds will be exchanging value and it's for the purpose of iteratively enhancing themselves whether that's a human or whether it's a machine to improve oneself or whether the relationships are human to machine or machine to machine and not to spat out some Doom porn but many economic experts are making some scary predictions uh in the not too distant future about economic and financial crises and one would hope that the goal of these globally impactful exponential Technologies like Ai and blockchain is to soften the blow of any of these future crises and they do so by better establishing societal trust so in conclusion I hope that together we can grow and invest in our humanness thank you very much let's go all right okay we're working um listen I've been told by uh the boss um not that boss a different boss that you have to get off your seats and scan the QR codes and you can claim some Enon I know there is swag left there's some super cool newwork uh near Week t-shirts that they' thrown in the store if you haven't yet checked out the uh mint bear auction with the uh Mr Brown physical art piece it's absolutely incredible it would look good on anybody's office wall uh also great as a gift it's Christmas time soon um so go ahead and scan that we're going to give you a little bit of time until we introduce the next speaker uh in the meantime uh it's really important for me to reiterate that this is the AI track this is the part that you've all been waiting for we do have some neara Legends on the stage we have both of the co-founders coming up that is Ilia and Alex and they're going to drop some Alpha like you've never seen before so if you're ready for that give us one big round of applause while I introduce your next speaker NJ pan give it up for n hello everyone can everyone hear me me great so today I'm going to be talking about AI crypto as as uh was said and um I'm going to do a little bit of a you know 30,000 ft out view of why is this space interesting and um kind of take it from first principles you know what are the things to be looking at in this in this um category so what's the motivation what we have today is is this you know massive usership in AI you trap GPT has hundreds of millions of users using it every week uh products are coming out left and right and tons of money is entering the space people can't seem to get their hands on hardware and there we have a great backdrop for a very very exciting new technology and new products but what are the problems there's a lot of problems evident today with AI the first is that the infrastructure is highly centralized model storage model ownership and governance is all stored on Central servers and uh places that can be you know taken down computation on models is also centralized they're behind big public clouds and and big GPU Services access to training data and uh most models are also censored you if you try any of the even the open source models they're highly censored and it's become this cat and mouse game to try to get you know deep interesting information out of these these models this infrastructure is also highly permissioned there's high cost to using and improving AI it takes advantage or it's advantaged by centralized players it's uh these things are are very expensive to train and operate they also have centralized permission apis to access anything so again it's another Gateway for you accessing these AI models then finally these systems don't provide you any privacy any computational integrity and any censorship resistance so this creates a good backdrop for where I think crypto can have an interesting place for AI then finally governments incumbents large corporations are attempting to now regulate the space to try to cut out any new players to from entering the space and um I I think it kind of goes from a philosophical point to show you know they're kind of trying to attempt to say you know we know what's in your best interest but I think people know what's in their best interest the future impact here is really large with enough data you can replicate anyone virtually or physically you can have a politician say what they want to say have your favorite actor or movie star write what they want to write and it's believable by a lot of people so this will lead to a lot of scams increasingly as we become more digital and online it's another vector and entry point for these models to become highly you know susceptible in the um in the world we have there's a really great potential uh to create highly engaging new forms of media and propaganda and chat the the 2024 us election ads are already used us AI so we're already moving in this direction of AI starting to control these these forms of media which is really really big and so I think an important thing here is who's controlling the models who's controlling what goes into them who's controlling the governance aspect and who controls who builds the products on top um these are a couple slides or a couple images from a talk I really like called the AI dilemma they basically talk about social media was this great you know web 2 Innovation allows anyone to publish create all these great things you can connect to your friends you can talk to people you can get jobs but it also created all these bad things you know everything from information overload to you know these these highly addictive online platforms today AI has a lot of great promises but it also has a lot of potential issues everything from creating highly engaging fake robotic uh characters and chats that that engage people to building new types of scams and so with all of this it's kind of a scary picture I think crypto is the thing that will help solve a lot of these issues and and really create the AI future that we want AI is this highly centralizing technology it takes advantage of large swats of data collected into these big models and they're they're improved from that standpoint crypto is this highly decentralizing technology it brings power back to the people and it allows people to have sovereignty over their information their data and how they transact and so the obvious thing is to combine these two things combine this power of intelligence with this trustless you get from crypto crypto aai at least the aim is to go from won't be evil to can't be evil and not allowing big corporations or governments or really anyone tell you what to do and and how to transact if we've already decentralized money and music and property records and compute why not AI so this is how I think about the AI stack and this is something that um we've kind of stolen from Ilia and credit to him in this this mental framing at at the bottom right we have compute so everything from verifiable inference to training privacy of user data and censorship resistance all through cryptography and Game Theory on top of that is the models the things that are actually being used and interacted with by the end applications on top of this is the data what are the things that are actually feeding the models and and trying to make these things open and then finally are the applications on top what are the things people are building on top of these models alongside the left here is is governance which is all of these pieces of the stack have an element of governance and crypto governance is a really great way to manage you know how should a a certain AI model you know be steered how should interact with people and and things of that nature so a big question is uh what are the use cases and I think a really good interesting mental framing is to say AI is really good at finding information or creating information creating properties of programs that were not explicitly programmed if you take a swath of data and it gathers you some insights on it how are ways we can apply that in the crypto world that would be interesting one is very simple so it's validity safety privacy being able to interact with an llm or diffusion model in a way that's private or is um you know keeping your data Sovereign uh is already a great start and as we go down there are examples in every subcategory within defi you can build automated LP strategies that are run by you know by an AI model you can build new ways to parameterize risk and to adjust say the interest rate St parameters in a in a lending protocol in nfts uh it's things like appraisal improving and kind of enhancing the interactivity of the nft in gaming it's building autonomous worlds it's building personalized experiences allowing games to take your information and improve how the game is actually done within social building trustless recommendation systems ways to recontextualize information imagine if your favorite author or your favorite writer you know you don't like the writing style but you like their content you can take their content and have it Rec contextualize to you in a way that might be better for you maybe it's simpler language maybe it's in the form of you know Hemingway or or really anything like that you know the world is your oyster and finally governance being able to have Dows build automated governance proposals which today is a highly human you know human focused human intensive task and very laborious and as the Dow space grows it's going to be difficult to keep up with the number of humans that are needed to staff Dows we should let AI help what we're doing with governance and this is just the beginning there are many many many more applications I think my slider was cut off but um one one other example it's kind of an interesting sci-fi example is imagine you can take a human language intent you driven by an llm and and then turn it into you know self- assembling smart contracts so an example would be I could type into a chat bot and say you know I want you to build me synthetic 2x levered exposure to Apple with with near tokens as collateral normally that would take five or 10 steps the synthetic exposure might be in a different protocol the Apple might be in a different protocol near on a on a different you know different protocol and so what if you could have an llm that generates these inputs feeds them through one of these new intent protocols and then self assembles the smart contracts and generates you that payoff all autonomously the future of Finance you know really can be driven by by AI so for those in the audience that are interested in building in this space outside of the use cases that I mentioned there's also a lot of really interesting research directions to to think about one is how how do we do proofs of validity how do we prove that the compute done for a model was done correctly there are there's a a sub sector of the space called zkl that's quite popular and there's also a lot of interesting teams building in the optimistic proof side of the space decentralized training how can we build these these trustless training mechanisms and create you know the foundation models of tomorrow and build transparent Foundation models AI model governance how do we govern how an AI interacts with a human and how it should behave you know for a specific human and their preferences and then finally privacy in AI ZK proofs only go so far you know can really only prove information you know prove uh things about local information um so we'd have to look to the the next generation of Technologies fhe trust execution environments and and maybe MPC te so I didn't talk much about what what we're doing uh ritual is the company that I'm working on and the first product we came out with yesterday is called infernet uh it sort of comes from from the term inference so infernet is an SDK that allows any smart contract developer to use an AI model in their smart contract there's a bit of an outline here showing how that actually works but the end goal here is to make it extremely simple for people to use or build any of those applications I talked about just a few slides ago and that's it for more information it's my email uh my Twitter and then the Twitter handle of our company thank you all um QR code scan it if you don't scan it or get in trouble you can scan it you can get yourself some treats you can get yourself an extra lunch tomorrow you can earn neon or Encon and you can uh earn send and spend all around the conference now our next speaker is a brilliant mind he is one of the original co-founders of Nia uh but we're going to have them both on stage today separately so how can you tell which one he is Alex kind of has hair like like this and uh il's hair is a bit more like like this well Ilia is here um so you're not going to get them mixed up um I'm going to give you a few more seconds to scan that incredible QR code and grab your en con um and I am about to announce to the stage for the first time at neon 2023 Alexander skidanov hi everyone uh I'll talk today a little bit about uh Ai and open web and uh other nice hypy words um uh I had a particular thing I wanted to talk about uh I will still talk about it later today uh but as I came to the conference and I was roaming around the tables and observing what people are doing uh I noticed that a lot lot of things that I thought are yet to happen already happening so I just wanted to highlight what already exists today what you can do um with what uh is available uh one thing and I think many of you who played with chat GPT at all have already done that but I still I cannot stop being mindblown by uh how much you can do with just a s SLE sing Single prompt um that is something that happened yesterday uh when uh Eugene he just typed a prompt to make a website pasted it ver but him into a uh near social component and Bam it just works right so prototyping today already is possible without having any without having to write a single line of code it will just it will just work um another another example uh I I I unfortunately didn't hear the previous talk I had to be there uh but I hope you you guys are all excited about uh uh verifiable decentralized inference now uh decentralized inference will enable eventually uh decentralized agents that make decisions for us uh that's something that IIA will be talking right after me uh but something at a much smaller level is possible already today and uh what happens right now at a hackathon is that one of the projects that people work on uh is running an agent uh in an s GX Enclave uh and then you that agent can commit to something and then you can verify it on the blockchain right and so now you can have something simple as a uh decentralized autonomous organization funding decisions to be running by a model uh and the blockchain can already verify it you probably don't want to do it today uh with prompt injection and whatnot uh but uh as models get a little bit better um uh there's already something we can use you know month or maybe years ahead of uh inferences um production ready uh finally uh I think one beauty of the blockchain is that uh first of all it's close to where your money is uh it's close to where your data is you want your data to be encrypted uh and private uh but still used by many applications this is something that is uh what is being built in uh blockchain operating system uh and integrating that into uh agents uh to have sort of um all-encompassing uh single entry for everything you do uh is something that is very exciting um right so uh chat GPT and uh length chains and other Technologies already support fully um function calls emitting Json Etc so integrating that with the blockchain operating system will enable you to have to make decisions based on your private data uh real time without without having the data uh given out to third parties uh that that per se does not exist yet uh but we are on the on the path there uh if you want to play with something that that is very close to uh to that Vision uh check out a AI atmin based. XYZ uh Nate unfortunately couldn't demo it yesterday because chat GPT was down and when when their AI is down our AI is down but uh it is life right now so make sure to check it out so that exists today uh and the question is what do we need what else do we need to do to do today so that a year from now two years from now we are relevant uh and we are ahead of everybody else uh in the in the universe in which generative AI becomes the def fact way of um of things operating and I think one thing that excites me a lot uh is having uh having agents building or assisting I said building applications end to end and as you saw on on my very first slide you can already do simple prototypes that already works if you try to do anything more involved uh it starts glitching right if you try to if you try to use a modern uh large language model to create anything of sophistication higher than a simple prototype it will have a couple of mistakes usually as a human you would be able to fix them it is still faster in many cases to to go through the uh machine learning model to write the first version of the code and fix it especially if you're not familiar with the apis but if you want to build an end to end application it takes multiple steps it takes 20 steps to get there if there's a 10% chance of making a mistake on every step the probability of getting to a correct application is um 10% uh that is not uh a desirable probability and something we are investing heavily in right now um if you've seen my presentation last year uh one thing that we've been doing on near since 2021 early 2021 is investing heavily into building a large scale decentralized dat annotation platforms uh so near tasks I think they've they've been presenting on this stage today uh that is a that is a company that is productizing all the efforts we've had before uh and we uh we plan to invest heavily into capturing into annotating a massive Set uh of uh uh endtoend applications built on near components uh built for blockchain operating system capturing not just the final component because when you look at the final component you don't see what's been happening in the head of the person right when you look at the code on GitHub uh it's it's nice to see the code but but in order for you to reproduce it you need to to know what what was happening in the head of the developer and so we plan to capture all the every single step of every single thought the developer has had uh and by the time that the models are good enough uh which will happen very quickly right we we are uh at the very early steps at the very very early beginnings of uh of of what is yet to come when when they are good enough we will have um the data uh uh to be able to train something that will'll be building or will be assisting at least people at building applications end to endend uh that will be a massive competitive Advantage so that's something that is being being worked on right now uh so uh and uh I guess one beautiful part of that is that when you build when you build a uh if you ever if you ever built a component for blockchain operating system or if you ever observe the person doing that you would notice how how how quickly people who who know the ecosystem well enough can compose something relatively sophisticated by just uh picking up uh existing components putting them together and running them it's it's very interesting to observe how people can build something um especially during the NDC election people were building some very nice widgets very quickly uh out of what exists that is something that doesn't navely work with existing U apis because you need to you need to have you need to have an ability to search through the components index them Etc so all of that can be captured uh and will enable people to to fully Leverage The the existing ecosystem um um maybe in a year or shortly after so so that's something uh that excites me a lot I think that is something that will position near to be much uh better prepared for the Advent of uh of generi uh so hopefully you guys are also excited uh let's uh let's see it happen I'm going to annoy you with this but it's going to be worth it so if you want to claim your Encon get up scan the QR code um press the link and it will be sent directly to your Encon wallet where you cany buy all of the wonderful swag in the swag store you can get some uh delicious food and you can uh engage with the whole Encon app experience so I hope you enjoyed that just as much as I did am I on am I on the big screen can you Zo can you can you zoom in can you zoom in really close to my face for the announcement whenever whenever we get the screens back on I think that it's going to work for the bit um but this next man has uh treaded the boards a few times um he is is uh one of the people responsible for putting the T in chat GPT um and if we're not going to get the screens on I'm going to introduce them anyway because I know that I personally cannot wait to see everything that he says so do put your hands together and give a big round of applause for ilot pokin hello everyone great to be here on the second day it's been amazing conference right all right at least you're not asleep so that's good all right so we've heard a bunch about uh AI in web 3 and uh I want to kind of glean a little bit forward Beyond what's already here we've heard a little bit from Alex on what you can do on the developer side what you can do on product side um but I want to talk about the kind of the future of work and governance uh leveraging AI so for those who are not familiar I worked on in machine learning space for about 10 years before getting into blockchain and web 3 I worked at Google research where I worked across kind of open source project called tensorflow machine learning framework as well as uh on research for natural language understanding and if you used Google before especially before like 2000 19 the models were built were serving kind of short answers there and I end up kind of through the work we were doing because it was actually very non-performing the models we were using at the time uh kind of together with a group of researchers working on attention all need the paper that introduced Transformers and kind of kickstarted some of the Revolution uh that we see in today I always believe in the idea that AI can become a huge driver for productivity as well as uh a tool that kind of changes how Computing is done and so with Alex we started near in 2017 as AI startup we're teaching machines to code and we were trying to kind of Leap Frog what we seen today back in 17 now we did not have open Money uh so we ended up uh kind of getting into blockchain through needing ourselves to pay people around the world and realizing there's a huge opportunity\n\n[NEAR-pedia: text truncated at storage limit; the source document continues]","transcript_synced_at":"2026-11-03T06:21:11.664Z","segments":[{"start_seconds":28,"text":"oh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=28s"},{"start_seconds":58,"text":"you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=58s"},{"start_seconds":88,"text":"oh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=88s"},{"start_seconds":478,"text":"e","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=478s"},{"start_seconds":511,"text":"we will begin in 5 minutes please find your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=511s"},{"start_seconds":538,"text":"seats","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=538s"},{"start_seconds":766,"text":"we will begin momentarily please take your seats and silence your cell","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=766s"},{"start_seconds":777,"text":"phones","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=777s"},{"start_seconds":875,"text":"please welcome our MC to the stage near foundations Martin","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=875s"},{"start_seconds":889,"text":"best you can tell there was a very very good party last night looking at the the waves of empty seats and people starting","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=889s"},{"start_seconds":897,"text":"to get their coffee well I think you guys if there was a special Encon prize for the people that made it on time you should definitely be winning a large","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=897s"},{"start_seconds":905,"text":"Bounty uh speaking of Enon let's do a bit of housekeeping before we start talking about the amazing guests we're going to have on today's panel it will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=905s"},{"start_seconds":912,"text":"also give one or two moments for some of the other uh attendees to grab their coffee and remember who they are and where they are and to come into the L1","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=912s"},{"start_seconds":920,"text":"stage let's just talk quickly about uh about how you can earn Encon some people were asking yesterday uh about the magic","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=920s"},{"start_seconds":927,"text":"QR code here on the screen and when is it going to be well guess what we're not going to tell you because if we tell you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=927s"},{"start_seconds":935,"text":"then you're only going to come and scan it to earn your extra encom so therefore look out for it I'm going to be here all day or at least till 2:30 I will be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=935s"},{"start_seconds":943,"text":"calling it out when the QR code will be on the screen you can scan it and you can get some more money now speaking of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=943s"},{"start_seconds":950,"text":"Encon and the swag uh there's been many people looking very glamorous walking around in their new hoodies their t-shirts drinking from their water","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=950s"},{"start_seconds":958,"text":"bottles uh some interesting news number one those stocks are running low so you need to make sure that not now but in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=958s"},{"start_seconds":966,"text":"the break you go over and you use your Encon exchange it for some swag in the entrance area I'm sure you know where it is by now and we have a special offer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=966s"},{"start_seconds":974,"text":"for you some of the t-shirts are now reduced to 10 Encon so for the slice of one pizza you can look as glamorous as this in one of these t-shirts so think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=974s"},{"start_seconds":983,"text":"about that ladies and gentlemen final thing talking about lunch some of you may have spent all of your con yesterday and you're getting worried thinking how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=983s"},{"start_seconds":991,"text":"will I go to the food truck how will I buy that one slice of pizza well you have two options firstly you can look around and find someone smaller than","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=991s"},{"start_seconds":998,"text":"yourself steal their phone scan it buy your pizza and return it to them but that's not the values of the near ecosystem is it that would not be very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=998s"},{"start_seconds":1007,"text":"friendly so the second option which is actually much much easier is for you to go around talk to all of our sponsors","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1007s"},{"start_seconds":1013,"text":"and partners engage with them learn from them talk to them all all of them have got secret stashes of Encon not so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1013s"},{"start_seconds":1021,"text":"secret really you just give your wallet scan it and then you're able to earn some extra Encon and that will give you that slice of pizza or that t-shirt or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1021s"},{"start_seconds":1029,"text":"that water bottle that maybe you were just saving up for and haven't quite got yet so I can see we're now getting uh some of the people who last night were","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1029s"},{"start_seconds":1037,"text":"dancing furiously on the the Dance Floor gradually coming in good evening have have a nice time those grape shots were","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1037s"},{"start_seconds":1045,"text":"powerful weren't they so um we're going to kick it off with really exciting panel I just have one request for those of you in the room starting on the TU","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1045s"},{"start_seconds":1054,"text":"sorry the Wednesday morning the day after or whichever day it is now uh starting the day after the opening party is quite a difficult gig for those guys","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1054s"},{"start_seconds":1062,"text":"and for those of you that have come I just ask you to give a really Fierce Round of Applause and a few whoops screams positive ones by the way not","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1062s"},{"start_seconds":1070,"text":"negative ones uh try and get them pumped up because they're going to be talking about something that definitely is not easy and that's connecting the multi","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1070s"},{"start_seconds":1078,"text":"chain world with infra and it's something which is a really important topic to discuss so um I would like to bring to the stage um our lead moderator","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1078s"},{"start_seconds":1087,"text":"today which is none other than Mr gleb","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1087s"},{"start_seconds":1107,"text":"dudka uh hello everyone good morning yeah good","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1107s"},{"start_seconds":1114,"text":"morning to all the survivors of the Afterparty yesterday uh yeah so as uh as the MC already mentioned we are starting","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1114s"},{"start_seconds":1122,"text":"off pretty heavy in the topic with the topic of infrastructure and why it ain't easy uh and yeah I would like to uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1122s"},{"start_seconds":1129,"text":"introduce myself and the panel and the panelists will introduce themselves so I'm I'm glb dutka I'm from Green Greenfield Capital we are the European","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1129s"},{"start_seconds":1138,"text":"based uh European based crypto VC um we also run our own valid dator so we try to support the our Port course in a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1138s"},{"start_seconds":1146,"text":"various ways including running and providing infra for for them and uh yeah I would like to the panelists to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1146s"},{"start_seconds":1154,"text":"introduce themselves let's start with Chris sure hey good morning everyone Chris sharp I'm CTO at block","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1154s"},{"start_seconds":1162,"text":"demon uh hello everyone um uh Louis from octopus network uh octopus is is a I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1162s"},{"start_seconds":1169,"text":"would say a complimentary infrastructure in near ecosystem we serve application","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1169s"},{"start_seconds":1176,"text":"specific blockchain by providing share security and uh inability support hi everyone good morning I'm","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1176s"},{"start_seconds":1185,"text":"talita I'm part of the cor one uh infrastructure provider so basically specialized in validator nodes we run 47","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1185s"},{"start_seconds":1194,"text":"networks nowadays so I think this panel is something that's very relevant to uh to start discussing as the multi chain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1194s"},{"start_seconds":1203,"text":"Road uh takes over hello everyone uh good morning exciting to be here uh my name is yir","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1203s"},{"start_seconds":1211,"text":"klepper I'm a co-founder and CEO at lava Network in lava we building a modular infrastructure layer uh that can support","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1211s"},{"start_seconds":1220,"text":"any RPC API in any chain okay awesome it's it's great to have you guys um yeah so let's let's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1220s"},{"start_seconds":1227,"text":"let's dive into the qu into the questions and topic right away so the first question is like we are in an increasingly modular increasingly","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1227s"},{"start_seconds":1235,"text":"fragmented blockchain world we have right now large debates around the modularity like the modular blockchain stack versus the the monolithic stack as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1235s"},{"start_seconds":1244,"text":"well as the number of l1's is uh and as well as l2s is constantly growing so I mean that definitely possesses a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1244s"},{"start_seconds":1252,"text":"uh a lot of challenges for infrastructure providers so I I was wondering how how do you guys deal with that increasing number of connections","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1252s"},{"start_seconds":1261,"text":"because I mean all of these layers and modules they need to be interconnected with one another and that creates friction so I was wondering how do you in your company kind of deal with that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1261s"},{"start_seconds":1270,"text":"and then what challenges do you believe this fragmentation uh poses towards like the users of these protocols or your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1270s"},{"start_seconds":1278,"text":"protocol uh your company um let's start with maybe Chris yeah sounds good um you know we have distinct lines of business","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1278s"},{"start_seconds":1285,"text":"obviously we have our nodes business and I would the question differently there than I would for our API business for on the Node side of things um really","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1285s"},{"start_seconds":1294,"text":"automation automation automation making sure that we can get updates apply patches and stay current so that um you know these networks are are as secure","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1294s"},{"start_seconds":1303,"text":"and as as operationally functional as possible on the API side of things um you know really building building things from a platform perspective and making","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1303s"},{"start_seconds":1311,"text":"sure that as new protocols come come on board where there are similarities there's less and less work for us to do over time time um on the wallet side of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1311s"},{"start_seconds":1320,"text":"things um again it comes comes back to then building off of the you know the work that we've done on the API side of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1320s"},{"start_seconds":1327,"text":"things so for our Universal API once we've added a protocol there it should then become much easier to integrate from from a wallet perspective so that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1327s"},{"start_seconds":1336,"text":"kind of our our approach and then I would say finally um you know just staying very current with uh evolving uh Technologies you know whether they're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1336s"},{"start_seconds":1344,"text":"you know shared uh sequencer networks or or other kinds of things that you know effectively make um make some of the the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1344s"},{"start_seconds":1352,"text":"the the bridges the exchanges the dexes the the defi stuff you know sort of communicate with one another more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1352s"},{"start_seconds":1359,"text":"seamlessly makes sense what about you guys L okay uh so I I I think we are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1359s"},{"start_seconds":1365,"text":"still uh in the process of uh I say blockchain exposion and uh in the in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1365s"},{"start_seconds":1373,"text":"coming years we will see um hundreds if not thousands public chain uh app chain middleware","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1373s"},{"start_seconds":1381,"text":"chain execution layer da layer but in not not necessarily I will not name this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1381s"},{"start_seconds":1389,"text":"trend as fragmentation it's about exploration since uh we uh there is only","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1389s"},{"start_seconds":1398,"text":"uh very few use case has been po to be relevant in terms of web three or open","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1398s"},{"start_seconds":1406,"text":"Bap we need to explore much more uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1406s"},{"start_seconds":1411,"text":"field to make web three a real thing and then and be frankly we don't know what's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1411s"},{"start_seconds":1420,"text":"the next killer app and the first thing we need uh a lot of different uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1420s"},{"start_seconds":1428,"text":"different infrastructure uh Diversified blockchain or even some some other things Beyond","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1428s"},{"start_seconds":1436,"text":"blockchain such as neutral uh uh sematic and orbit this kind of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1436s"},{"start_seconds":1444,"text":"decentralized infostructure to make additional uh use case happen in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1444s"},{"start_seconds":1451,"text":"decentralized uh contest and but uh but uh uh if there are let's say thousands","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1451s"},{"start_seconds":1458,"text":"of blockchain it's not that security since uh considering how many device","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1458s"},{"start_seconds":1465,"text":"tcpip has been connected get together if we providing we have a open uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1465s"},{"start_seconds":1472,"text":"comprehensive standard on intern ability we are we will be okay that that is why","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1472s"},{"start_seconds":1479,"text":"we uh uh we we are uh we we we work on IBC I think it's the only open","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1479s"},{"start_seconds":1487,"text":"comprehensive inability stack around the place and uh we are about enable IBC on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1487s"},{"start_seconds":1495,"text":"year and uh we partner with is secret Network to be uh uh to to to launching a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1495s"},{"start_seconds":1502,"text":"real Bridge it it will be the first one uh for CER chain to connect with near y","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1502s"},{"start_seconds":1509,"text":"IVC and why we hope IBC will be perversive and all the blockchain and decentralized infrastructure will be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1509s"},{"start_seconds":1519,"text":"connected with each other in uh trustless way understood and with lava how how do you handle that increased","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1519s"},{"start_seconds":1528,"text":"fragmentation yeah no I think what I can add to uh the important things that was saying here is that the we see","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1528s"},{"start_seconds":1536,"text":"fragmentation in the middleware layers and I think that um uh you know the concept of blockchain being serverless","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1536s"},{"start_seconds":1544,"text":"uh towards ensuring the same uh um you know the back end of the same state um within the different uh providers I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1544s"},{"start_seconds":1553,"text":"think what we looking now is the increasing adoption of more and more um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1553s"},{"start_seconds":1560,"text":"uh rollups and uh and blockchains and at the end of the day um Lava is addressing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1560s"},{"start_seconds":1567,"text":"that in three different ways first of all we building a modular infrastructure is something that uh incentivizing the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1567s"},{"start_seconds":1576,"text":"community to take any spake any new upcoming chains and together with our existing amazing partners for example","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1576s"},{"start_seconds":1583,"text":"block demon uh we are able to tackle quickly the entry point for these blockchains the RPC and API uh level uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1583s"},{"start_seconds":1592,"text":"the second part of that is that we creating kind of a incentive mechanism","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1592s"},{"start_seconds":1598,"text":"that makes sense that every um every vendor every provider is able to get","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1598s"},{"start_seconds":1606,"text":"rewards according to the quality of service and we see that a lot of lockin","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1606s"},{"start_seconds":1613,"text":"uh vendors we have today in uh blockchains uh some some some of the contracts were made one year ago even","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1613s"},{"start_seconds":1620,"text":"more um you know when when we had all in the bull run and the reality has changed","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1620s"},{"start_seconds":1627,"text":"so I think if we are able to be um to give a more flexibility to the chain and focus on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1627s"},{"start_seconds":1636,"text":"RPC becoming a commodity but making it the quality of service the rewards based on the quality of service um that going","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1636s"},{"start_seconds":1644,"text":"to change and scale up much better the world we live in what do you guys think with corus one","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1644s"},{"start_seconds":1652,"text":"yeah um I think when it comes to node provider the biggest challenge with the fragmentation of the ecosystem is how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1652s"},{"start_seconds":1661,"text":"you choose the ecosystems that you will support yeah uh it's becoming um mostly impossible I would say to support all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1661s"},{"start_seconds":1670,"text":"layer ones and all decentralized networks that are not even blockchains um so I think this was this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1670s"},{"start_seconds":1677,"text":"would be the the biggest challenge and also when it comes to specializing what the service that you offer for example","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1677s"},{"start_seconds":1685,"text":"we try to be active on governance so you need not only to run the software of that blockchain or that decentralized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1685s"},{"start_seconds":1693,"text":"network but also to have researchers follow following the ecosystem what is the the particularities of each","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1693s"},{"start_seconds":1701,"text":"ecosystem and the main technical challenges that are being discussed that is completely different in the cosmos ecosystem and in on Theon ecosystem for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1701s"},{"start_seconds":1709,"text":"example so I think this is a a big big challenge for us and I would still like to mention a third one that is the user","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1709s"},{"start_seconds":1718,"text":"experience because as a a node provider we although we support 47 networks the user experience is still","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1718s"},{"start_seconds":1726,"text":"not uh as smoothest that it could be in my opinion for example when it comes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1726s"},{"start_seconds":1732,"text":"to um the user wants to know how how often the rewards are paid or there are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1732s"},{"start_seconds":1740,"text":"just so many wallets so if you want to if you hold many different assets you have all this uh different systems and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1740s"},{"start_seconds":1749,"text":"different wallets that you need to manage and that you the rewards that you need to claim and restake so I think this is also something that could be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1749s"},{"start_seconds":1757,"text":"improved on when it comes to to staking yeah right I think I think just to add","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1757s"},{"start_seconds":1764,"text":"one thing talita just touch a very interesting concept about decentralization and we all believe we all here also for decentralization but I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1764s"},{"start_seconds":1773,"text":"think there is a bit misconception that decentralization bring uh lack of scalability uh much more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1773s"},{"start_seconds":1780,"text":"complexity and you know it's something that uh us as first com to the ecosystem to blockchain to web 3 uh only two two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1780s"},{"start_seconds":1790,"text":"and a half years ago we see that uh decentralization is the is the tool is not the end goal because obviously ly at","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1790s"},{"start_seconds":1797,"text":"the end of the day if it's on the expans of scalability and complexity it doesn't make any any sense yeah definitely","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1797s"},{"start_seconds":1806,"text":"that's not a goal in itself right it's a means to an end uh yeah um from the investor standpoint we often times look","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1806s"},{"start_seconds":1814,"text":"at like what modes and what defensibility and stickiness does the project or protocol have and I was wondering like it's pretty guess we know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1814s"},{"start_seconds":1822,"text":"some metrics for like stickiness and mode I guess in terms of like more consumer facing protocols like defi we can look at tvl there's like I don't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1822s"},{"start_seconds":1829,"text":"know active users there's a bunch of a bunch of bunch of kpis and I was wondering what do you in your line of business think like how how do you think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1829s"},{"start_seconds":1838,"text":"about your mode like your stickiness of your users of your clients and then kind of what kpis are you using like what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1838s"},{"start_seconds":1845,"text":"kpis would you think are the most important for you and then how do fees kind of fit into those because I feel like with infrastructure sometimes you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1845s"},{"start_seconds":1854,"text":"start kind of as a free offer but then then over time once you g gain some stickiness you start charging fees which","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1854s"},{"start_seconds":1861,"text":"might then make you not as competitive so I was just wondering how you guys think maybe uh maybe we start with uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1861s"},{"start_seconds":1868,"text":"with octopus oh yeah uh I think apparently uh the mode is there for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1868s"},{"start_seconds":1876,"text":"Success uh particles uh for example uh we know that uh their uh eim they get","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1876s"},{"start_seconds":1885,"text":"billions of dollars polical Revenue uh a month and but if I F out uh etherum it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1885s"},{"start_seconds":1894,"text":"will worth nothing so I think uh uh the motor protocal uh is composed of uh two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1894s"},{"start_seconds":1902,"text":"major part one is Network effects uh for example uh octopus Network we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1902s"},{"start_seconds":1908,"text":"facilitate uh the share security from near reinking to uh achain and so there","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1908s"},{"start_seconds":1917,"text":"is the provider side if there is more near holder engage with uh raking that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1917s"},{"start_seconds":1924,"text":"will be easier for achain to get cost effective security and if there is more achain who join this network they will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1924s"},{"start_seconds":1933,"text":"provide uh more opportunity for near Staker to to gain their their their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1933s"},{"start_seconds":1940,"text":"rewards so it's a two side in M have uh apparently have uh Network effects the second part of the mode is about I would","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1940s"},{"start_seconds":1949,"text":"say confidence or fath uh just means you know application developer they choose","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1949s"},{"start_seconds":1956,"text":"their infrastructure very cautiously and if there if the infrastructure feel they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1956s"},{"start_seconds":1964,"text":"uh effort will will will will go meaningless and uh so if an infrastructure whether it's blockchain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1964s"},{"start_seconds":1973,"text":"or or metalware it has been there for years and with good maintenance and uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1973s"},{"start_seconds":1980,"text":"uh reputation a lot of usage adoption economic activities there we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1980s"},{"start_seconds":1988,"text":"can safely buy that it will exist in the coming years so Lind effects and uh it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1988s"},{"start_seconds":1995,"text":"will give this uh protocal amount to the others got it and with course one how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=1995s"},{"start_seconds":2002,"text":"how do you view your mode with towards like the protocols or towards the users well I think cost efficiency is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2002s"},{"start_seconds":2012,"text":"something that will stand out as competition has been increasing a lot on the infrastructure side in the last","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2012s"},{"start_seconds":2021,"text":"couple years I would say and also the way that uh the quality of service in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2021s"},{"start_seconds":2028,"text":"general that you offer not only on when it comes to uptime of the infrastructure but also everything else that is related","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2028s"},{"start_seconds":2036,"text":"to to running uh the notes so for example on the research side as I mentioned that is something that we we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2036s"},{"start_seconds":2044,"text":"try to explore um a lot and although I think what's also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2044s"},{"start_seconds":2052,"text":"relevant when it comes to the fee part is that we have a cost so although the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2052s"},{"start_seconds":2060,"text":"competition can increase a lot there is a minimum that you need to charge because of your fixed cost in dollars","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2060s"},{"start_seconds":2068,"text":"that's basically servers and salaries so yeah I think mostly the cost efficiency would be something that I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2068s"},{"start_seconds":2076,"text":"believe um would um create this uh advantages for for the players","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2076s"},{"start_seconds":2084,"text":"in in the infrastructure yeah got it as an another professional node operator Chris yeah sure thanks um so on block","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2084s"},{"start_seconds":2092,"text":"team and I kind of would separate it maybe into two broad categories um the first category would be just you know our corporate structure right like we we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2092s"},{"start_seconds":2100,"text":"didn't have to but we have financially audited accounts we're ISO certified right and so that is going to be the kind of thing that if you're you know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2100s"},{"start_seconds":2108,"text":"trafi maybe a big Bank um you know really globally that's going to be I think for us something that we look at as as a bit of a moe um uh because you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2108s"},{"start_seconds":2116,"text":"you want to make sure that the company you're doing business with today is going to be in business tomorrow as well right um and that's something that we didn't have to do but we chose to do and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2116s"},{"start_seconds":2125,"text":"it cost a lot and a lot of time the audits are are kind of kind of hard to do every year but but it's important for us and and our partners on the second","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2125s"},{"start_seconds":2133,"text":"side of things I would say uh innovating on the technology side of things um you know we've got an Institutional NPC wallet uh with uh a user experience that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2133s"},{"start_seconds":2143,"text":"allows you to do sort of oneclick staking and if you think about all of the things that are involved in making that work you have to have you know an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2143s"},{"start_seconds":2150,"text":"you know for it to be on Prem that's hard for it to be NPC that's really hard then you've got you know the API that I mentioned earlier that is is sort of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2150s"},{"start_seconds":2158,"text":"servicing that it's available for everyone else we eat our own dog food um so to speak um and and then of course","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2158s"},{"start_seconds":2165,"text":"the you know rock solid 49es of of nodes and and everything that's powering those apis and so it's really a series of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2165s"},{"start_seconds":2173,"text":"things that we that we bring to the table we think you know creates a competitive Advantage got it yeah here","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2173s"},{"start_seconds":2180,"text":"yeah I think um you know just just to add a bit for um you know how how love see the picture and you know my personal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2180s"},{"start_seconds":2188,"text":"belief I think we can divide that into four different things we see Community we see uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2188s"},{"start_seconds":2195,"text":"integration and compossibility uh we see the brands and obviously uh the fee or even","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2195s"},{"start_seconds":2203,"text":"the new data primitive that we we thinking now um Community is uh the bread and butter of uh of of the topic","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2203s"},{"start_seconds":2212,"text":"right because if you know how to harness the community if you know how to incentivize them um um the rest will come right this is why I think most of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2212s"},{"start_seconds":2220,"text":"you here uh and this is why you like to be here and near um the second part is uh integration and compossibility and I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2220s"},{"start_seconds":2230,"text":"think what was important for us from the GetGo is to make this modular infra that is going to be Plug and Play to every","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2230s"},{"start_seconds":2239,"text":"ecosystem in one hand able to support the you know the 1,000 rollup and N chains and and at the same time to use","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2239s"},{"start_seconds":2248,"text":"the standards so we laa integrated ejs webd um uh uh coam um and we see that if","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2248s"},{"start_seconds":2259,"text":"we give one subscription access to all web 3 basically you know developers is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2259s"},{"start_seconds":2267,"text":"focusing on the building they're not focusing on if they want to expend to new blockchains who going to support them and that's lead me to the third","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2267s"},{"start_seconds":2275,"text":"point that uh is about the usability the user experience how how easy is to go multi-chain because as you see","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2275s"},{"start_seconds":2282,"text":"announcement yesterday uh um by Ilia for example with polygon and near and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2282s"},{"start_seconds":2290,"text":"there's a lot of integration between the different chains at the end of the day you need to give the the devs the uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2290s"},{"start_seconds":2297,"text":"flexibility to go between one uh chain and another and you know our vision as a new data primitive says that um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2297s"},{"start_seconds":2307,"text":"if you have the data committed and backed by uh Financial commitments so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2307s"},{"start_seconds":2314,"text":"you can trust it if you have strong partners that already um were an experts in specific ecosystem that's what we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2314s"},{"start_seconds":2322,"text":"working for with block demon for example uh the scale is inevitable uh and that's my two sense got it um yeah let's let's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2322s"},{"start_seconds":2331,"text":"try kind of a little bit of a wild angle here uh what it like there's increasing talk talk right now about like enshrining different services or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2331s"},{"start_seconds":2340,"text":"different infrastructure protocols into the core like base layer one so with ethereum that would be like discussions whether ethereum should implement or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2340s"},{"start_seconds":2348,"text":"like enshrine liquid staking into the core protocol and that would potentially put some of the kind of infrastructure","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2348s"},{"start_seconds":2354,"text":"protocols which are higher in the stack under pressure of just maybe like being integrated by respective L ones so I was","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2354s"},{"start_seconds":2363,"text":"wondering do like I was wondering does someone of you think that some of your core business you're you're running","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2363s"},{"start_seconds":2371,"text":"would be in danger potentially long term and how would you and how would you think about","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2371s"},{"start_seconds":2377,"text":"this who who wants to take that one well I can take it um on the Node operator side there is one dimension","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2377s"},{"start_seconds":2386,"text":"that's uh the more different binaries and softwares you have to run the more complexity and different things that you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2386s"},{"start_seconds":2395,"text":"need to monitor so so this is something that this is a dimension that would create an incentive for having more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2395s"},{"start_seconds":2401,"text":"things in the protocol although I also believe that it might be risky because the more complexity you have on the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2401s"},{"start_seconds":2410,"text":"layer one for example the more chance you open for having an attack or a bug","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2410s"},{"start_seconds":2417,"text":"that's complex and it's harder to predict and should treat if if something","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2417s"},{"start_seconds":2423,"text":"happens so there I I think I'm personally I'm a fan of the protocol minimalism where I think layer one","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2423s"},{"start_seconds":2432,"text":"should also should only mostly focused on consensus and execution and yeah so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2432s"},{"start_seconds":2439,"text":"that's my my personal take on that got it um I think we are running a little bit out of time so I just wanted to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2439s"},{"start_seconds":2447,"text":"finish the panel with some uh likely spicey takes so I was wondering if you if you believe something about","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2447s"},{"start_seconds":2454,"text":"blockchain infra which is like you believe is not it's not really common sense it's kind of somewhat","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2454s"},{"start_seconds":2461,"text":"controversial so let's start with yeah maybe um so you know in the last so when","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2461s"},{"start_seconds":2471,"text":"we started we see that there is a natural evolution in blockchain infrastructure everyone at the beginning was running their own noes um and when","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2471s"},{"start_seconds":2478,"text":"blockchain adaption grew up it doesn't make sense right to scale it up uh second evolution was the centralized provider really","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2478s"},{"start_seconds":2487,"text":"reducing eliminating the barer to entry to all the blockchain and I think that the conception now uh that we like to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2487s"},{"start_seconds":2495,"text":"talk about in lava is the modular infrastructure something that as talita said is all about incentives uh some of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2495s"},{"start_seconds":2504,"text":"the investor told me it's like uber for nodes right we all remember all the shared economy uh some of them I support some","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2504s"},{"start_seconds":2513,"text":"of them less uh but uh at the end of the day it brought something new it brought something that adapting to the Dynamics","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2513s"},{"start_seconds":2521,"text":"of the new world it's adapting to the dynamic of the next uh Bull Run and yeah I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2521s"},{"start_seconds":2528,"text":"think the next the next Bull Run will be all about incentivizing the community in order to help you build a much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2528s"},{"start_seconds":2537,"text":"bulletproof and performant infrastructure okay got it I think we have time for one more controversial take that does does anyone want to take","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2537s"},{"start_seconds":2546,"text":"take it I will take it uh so uh we work on the field of app chain application","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2546s"},{"start_seconds":2552,"text":"speciic blockchain and uh people think that uh Layer Two or layer three will replace app chain since they inherit uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2552s"},{"start_seconds":2562,"text":"security from layer one but I think the basic contradiction is not uh roab","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2562s"},{"start_seconds":2568,"text":"versus AP it's about general purpose versus application specific so for any","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2568s"},{"start_seconds":2575,"text":"INF con structor if it's general purpose it can accommodate lot of use case but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2575s"},{"start_seconds":2582,"text":"for any specific use case I can uh make a better infrastructure to fully optimize for this use case so it's up to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2582s"},{"start_seconds":2591,"text":"the developer to choose public chain or app chain and uh the app chain can be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2591s"},{"start_seconds":2599,"text":"let's say another way to uh there's another way for app chain let's say build on Cosmos SDK to inherit security","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2599s"},{"start_seconds":2607,"text":"from layer one and uh it's much mature than Layer Two since all the lay to as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2607s"},{"start_seconds":2615,"text":"there there is a centralized sequencer centralized and centralized pool so I think for any uh application specific","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2615s"},{"start_seconds":2624,"text":"Choice uh let's say achain Cosmos SDK would be a a better choice than uh rups","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2624s"},{"start_seconds":2633,"text":"so this is my point okay cool yeah I think we are out of time it was it was great having you guys on the panel","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2633s"},{"start_seconds":2641,"text":"really pleasure meeting you thank yeah thanks thanks everyone thank you for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2641s"},{"start_seconds":2665,"text":"listening","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2665s"},{"start_seconds":2684,"text":"ladies and gentlemen thanks a lot there to gleb for uh for hosting that uh really tough nut to crack for for web 3 and I can see that one or two more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2684s"},{"start_seconds":2693,"text":"people have struggled out of bed and got down down here um let's just talk quickly about something really really exciting that's been happening um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2693s"},{"start_seconds":2701,"text":"building momentum over the last year or so and that's the growth of near APAC uh there some of you hopefully will have been to our event in APAC a few months","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2701s"},{"start_seconds":2710,"text":"ago it was insane we're talking tens of thousands of people there uh attending that event and last night I had a moment","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2710s"},{"start_seconds":2718,"text":"around 11:00 p.m. where I started to think should I go home I had no energy and then I was surrounded by members of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2718s"},{"start_seconds":2724,"text":"the near Korea Hub and suddenly I was reinvigorated with this passion and energy and enthusiasm so I just strongly","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2724s"},{"start_seconds":2732,"text":"encourage you if you see any of our near APAC colleagues go and chat to them because they are just coming with innovation ideas and excitement so we've","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2732s"},{"start_seconds":2740,"text":"got a really interesting speaker continuing that theme uh she arrived here in Lisbon on Monday interesting uh story about her she was just telling me","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2740s"},{"start_seconds":2748,"text":"backstage she is extremely good at speaking in German as well unfortunately not all of you guys are so she's actually going to bless us by by","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2748s"},{"start_seconds":2756,"text":"speaking in English and this is going to be about SK Telecom and their leap into web 3 so delighted to bring on to the stage Miss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2756s"},{"start_seconds":2773,"text":"seon yeah hello everyone yeah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2773s"},{"start_seconds":2782,"text":"so thank you for being here uh today and my name is seano I'm in charge of new business development based on the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2782s"},{"start_seconds":2790,"text":"blockchain Technologies SK Telecom in Korea today I like to about SK telecom's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2790s"},{"start_seconds":2797,"text":"live in web3 for the vision of web3 uh invisible","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2797s"},{"start_seconds":2805,"text":"web uh so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2805s"},{"start_seconds":2814,"text":"moment so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2814s"},{"start_seconds":2825,"text":"so yeah here yeah I start my presentation by giving a short","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2825s"},{"start_seconds":2832,"text":"introduction SK Telecom and our journey to web stre then I show you T wallet the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2832s"},{"start_seconds":2841,"text":"crypto wallet we are developing as a gateway to decentralize the economy after introducing taport the nft","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2841s"},{"start_seconds":2850,"text":"marketplace we launched last year I'll talk about our collaboration with Neo","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2850s"},{"start_seconds":2857,"text":"Foundation finally I'll share my thought on the future of web stre as we all together moved","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2857s"},{"start_seconds":2866,"text":"forward so let's begin by diving into skt's Journey towards","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2866s"},{"start_seconds":2874,"text":"web3 SK Telecom South Korea's leading Telecom company with a market share of more than","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2874s"},{"start_seconds":2884,"text":"48 percentage has a proud track record of generating stable revenue and leading","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2884s"},{"start_seconds":2892,"text":"customer satisfactions our Evolution has recently steering embracing Ai and integrating it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2892s"},{"start_seconds":2901,"text":"our core Telecom services and re Imaging customer experiences through this effort SK","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2901s"},{"start_seconds":2910,"text":"Telecom aims to become the leading AI company","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2910s"},{"start_seconds":2917,"text":"globally while focusing on AI we have been working to create uh business","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2917s"},{"start_seconds":2923,"text":"opportunities by building blockchain infrastructure and exploring the markets initially we adopted blockchain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2923s"},{"start_seconds":2932,"text":"infrastructure from the perspective of Technology iCal innovation in December 2018 we established a dedicated","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2932s"},{"start_seconds":2941,"text":"blockchain group at SK Telecom then we designed new service model using decentralized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2941s"},{"start_seconds":2949,"text":"identifier and launched the mobile credential service based on selfs servering identity we have also been exploring","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2949s"},{"start_seconds":2958,"text":"news cases that could be synergized with skt's current digital identity Authentication and carrier","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2958s"},{"start_seconds":2966,"text":"billing based Mobile payment services and recently we started preparing for the crypto wallet which is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2966s"},{"start_seconds":2974,"text":"sure to become the common web three in this chapter in the uh I will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2974s"},{"start_seconds":2984,"text":"talk about skt's web Vision which is broadly characterized by the keyword","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2984s"},{"start_seconds":2990,"text":"invisible web three connecting possibilities uh breaching the Realties first we aim to bring the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2990s"},{"start_seconds":2999,"text":"convenient web 2 ux into web3 and on board our existing 30 million","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=2999s"},{"start_seconds":3006,"text":"subscribers to web3 Services almost all our subscribers will have their own wallet address within two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3006s"},{"start_seconds":3015,"text":"years I hope and we are working connect our metabus service with blockchain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3015s"},{"start_seconds":3022,"text":"infrastructure and also create the Synergy uh synergies between digital and physical customer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3022s"},{"start_seconds":3029,"text":"satisfaction we believe that Financial Innovation enable us to realize the core values of web3 so we have partnered with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3029s"},{"start_seconds":3039,"text":"some financial institutions to explore Market opportunities","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3039s"},{"start_seconds":3046,"text":"next we will discuss SK recently launched T wallet in this chapter I'll talk about some of the features of T","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3046s"},{"start_seconds":3054,"text":"wallet which includes kyc CQ MPC chat and Bridge","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3054s"},{"start_seconds":3064,"text":"functionalities tallet roles as digital asset commen Center and the DF Gateway transferring and swapping","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3064s"},{"start_seconds":3073,"text":"digital assets is a worldless essential features primarily users can manage their own native coins and nfts on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3073s"},{"start_seconds":3082,"text":"etherum and polygon networks other evm based mainess will be supported gradu and we have some progress to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3082s"},{"start_seconds":3091,"text":"support non ebm chain like Aptos KET does not yet support stos and cbdcs but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3091s"},{"start_seconds":3098,"text":"we have partnered with the number one secret companies in Korea that is preparing for the stto platforms and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3098s"},{"start_seconds":3107,"text":"will be reviewing t-w integration for Technical and legal issues we are we are also in discussion","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3107s"},{"start_seconds":3115,"text":"with major Commercial Bank to support CBD based stable coin and we support wallet connect to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3115s"},{"start_seconds":3125,"text":"access various DF easily and we plan to expand the number of DFS that can be accessed directly within T","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3125s"},{"start_seconds":3135,"text":"wallet T wallet's biggest uh selling point is that it's a web- based wallet","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3135s"},{"start_seconds":3142,"text":"and has a kyc based signup process there is no download required and it can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3142s"},{"start_seconds":3149,"text":"be accessed through web browser whether it's PC web or mobile web since it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3149s"},{"start_seconds":3155,"text":"supports inep wallets thef players can ED T wallet in their apps or on their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3155s"},{"start_seconds":3162,"text":"webbased services Services already we integrated T into if SKT metav services","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3162s"},{"start_seconds":3171,"text":"with millions of Maus and we have one person one wallet kyc policy to comply with financial","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3171s"},{"start_seconds":3180,"text":"institutions guidelines in Korea residents in Korea can sign up through an identity authentication Services","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3180s"},{"start_seconds":3189,"text":"called pass and residents outside of Korea can sign up through their passport","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3189s"},{"start_seconds":3195,"text":"deliver driver's license and residance card so Korean newer can sign up in less","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3195s"},{"start_seconds":3204,"text":"than 10 second after signing off users can view and transfer digital Assets in an intuitive","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3204s"},{"start_seconds":3213,"text":"ways Ted is implemented based on secure MPC Technologies to minimize the risk of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3213s"},{"start_seconds":3221,"text":"custodial wallets while eliminating the inconvenience of non-custodial wallets in t wallet two of the three key","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3221s"},{"start_seconds":3230,"text":"Shares are needed for signing and if the key shares stored in the client browser is lost it can be restored through the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3230s"},{"start_seconds":3239,"text":"recovery server operated by third party users don't need seed braises they just need to go through the identity","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3239s"},{"start_seconds":3247,"text":"authentication process to restore key share additionally users can increase","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3247s"},{"start_seconds":3254,"text":"wiress security by setting different password for each device and browsers secure MPC gives tet and over hambling","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3254s"},{"start_seconds":3263,"text":"advantage over other wallets T wallet CH is working on XMP","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3263s"},{"start_seconds":3272,"text":"with the T wallet chat users can send secure messages and transfer digital assets on a oneone basis and this one on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3272s"},{"start_seconds":3281,"text":"chat service will be evolved to want many messaging and group chat","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3281s"},{"start_seconds":3288,"text":"Services TD is a cross chain asset transfer services that starts with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3288s"},{"start_seconds":3295,"text":"transferring nft nfts minted on escap Main need to etherum or polygon we plan","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3295s"},{"start_seconds":3302,"text":"to evolve the bridge service to support other mainess in the near future","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3302s"},{"start_seconds":3310,"text":"next I'd like to introduce SK SK","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3310s"},{"start_seconds":3318,"text":"toport yeah at taport we want to focus on three areas these digital art metaverse","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3318s"},{"start_seconds":3327,"text":"entertainment and the membership nft Market tapos nftd artwork can be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3327s"},{"start_seconds":3335,"text":"displayed in both online and offline galleries in the metav service we plan to offer items such as avat costumes and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3335s"},{"start_seconds":3344,"text":"lens as nfts taport also has music nfts contain music","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3344s"},{"start_seconds":3352,"text":"copyrights the third target is me membership nft which are expected to grow in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3352s"},{"start_seconds":3359,"text":"future membership nfts for the high and Community interested in art collection","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3359s"},{"start_seconds":3366,"text":"and uh private Equity investing are already being experimented","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3366s"},{"start_seconds":3374,"text":"with we are also considering web Community nft to that end we recently partnered with fact block the organizer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3374s"},{"start_seconds":3383,"text":"of Korean blockchain we we planed further explore and develop nft business cases through various","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3383s"},{"start_seconds":3391,"text":"initiatives in these three areas this is toport main page similar","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3391s"},{"start_seconds":3402,"text":"to other nft marketplaces you can see featured nft artworks and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3402s"},{"start_seconds":3411,"text":"collections when we first plan to taport we set out to ensure the web two users","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3411s"},{"start_seconds":3418,"text":"have the same customer experience on web 3 as they did on web 2 it's very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3418s"},{"start_seconds":3425,"text":"important I think so taport users don't need to recognize that the service is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3425s"},{"start_seconds":3432,"text":"webs based to this end we adopted a fat money payment before supporting crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3432s"},{"start_seconds":3439,"text":"payment since SKT is a telecom operator we prior ized Mobile payment based on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3439s"},{"start_seconds":3447,"text":"Carrier billing and also support bank transfer based pay","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3447s"},{"start_seconds":3454,"text":"payment last October SKT launched the nft service within if our metaverse","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3454s"},{"start_seconds":3460,"text":"service by integrating taport and T within if we began to enable if users to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3460s"},{"start_seconds":3468,"text":"conveniently purchase and utilize custumes issued as nft","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3468s"},{"start_seconds":3475,"text":"a prominent feature of taport is its parallel display at large physical galleries we run nft art galleries in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3475s"},{"start_seconds":3484,"text":"two of the most heavily food traffic locations in so these are near kangam","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3484s"},{"start_seconds":3490,"text":"station and Cox in Samsung dong at Cox toport nftd artworks are displayed every","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3490s"},{"start_seconds":3498,"text":"15 minute on a 100 m scale of digal SES areas","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3498s"},{"start_seconds":3505,"text":"by exhibiting artworks in both digital and physical spaces we hope to bring nfts close to our real","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3505s"},{"start_seconds":3516,"text":"lives now it's more on the next topic the collaboration agenda that SKT is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3516s"},{"start_seconds":3523,"text":"discussing with the ne foundation and finally I share you with you my thought on the future of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3523s"},{"start_seconds":3533,"text":"web3 since April SK Telecom has been discussing synergies with near Sports we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3533s"},{"start_seconds":3542,"text":"are envisioning how tet and taport can be integrated with both and Nea is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3542s"},{"start_seconds":3549,"text":"incubating a number of web stre project through an ecosystem program called near Horizon which also aligned with skt's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3549s"},{"start_seconds":3558,"text":"web incubating plan we could also contribute to expanding the develop ecosystem by","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3558s"},{"start_seconds":3566,"text":"jointly hosting web3 academic programs or heon in addition the is participating in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3566s"},{"start_seconds":3573,"text":"a Global Alliance called the CCI and I believe that if SK can join the alliance","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3573s"},{"start_seconds":3580,"text":"we can contribute to the institutionalization of innovative web3 project if our partnership agenda is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3580s"},{"start_seconds":3589,"text":"executed we can expect to see more Innovative and diverse success stories in West","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3589s"},{"start_seconds":3599,"text":"world so look current political and economic system is not only the one uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3599s"},{"start_seconds":3607,"text":"that we can live in there are a lot of systems and subsystems that overlap and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3607s"},{"start_seconds":3615,"text":"interact with each other which can be best explained through cybernetics with blockchain as a kind of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3615s"},{"start_seconds":3623,"text":"cybernetics we can imagine a future of politics that is more democratic and expressive in ways never before possible","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3623s"},{"start_seconds":3632,"text":"technology alone is not enough to forge a new map of the crypto space from the political perspective crypto as a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3632s"},{"start_seconds":3642,"text":"coordination from the economic perspective crypto as Finance from the societal perspective th and digital","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3642s"},{"start_seconds":3650,"text":"cooperatives will drive the blockchain common for Humanity now I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3650s"},{"start_seconds":3658,"text":"hope that everyone here will work together for the new web","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3658s"},{"start_seconds":3664,"text":"civilization yeah thank you for my talk","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3664s"},{"start_seconds":3683,"text":"yeah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3683s"},{"start_seconds":3707,"text":"okay ladies and gentlemen thank you so much uh seion for that fantastic talk and huge respect uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3707s"},{"start_seconds":3714,"text":"for gracing us with that presentation in English and now we know she can also speak German we can bring her back for for near Germany which we may hold at","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3714s"},{"start_seconds":3723,"text":"one time in the future so let's hope so now the next thing uh we're going to be talking about is something that I have also experienced in my previous role","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3723s"},{"start_seconds":3731,"text":"working in a crypto-friendly fintech incredibly difficult to navigate the world of regulations uh especially when they're coming from our esteemed","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3731s"},{"start_seconds":3739,"text":"colleagues in places like the EU uh and and elsewhere so we're going to have a really interesting panel that are going to try to tackle and explain some of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3739s"},{"start_seconds":3746,"text":"those really really difficult subjects right now it sounds a little bit like a finnished racing driver but the acronym is uh ma it's under the microscope and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3746s"},{"start_seconds":3754,"text":"so we're going to have some heavy weights talking about it and understanding how uh the the benefits and negatives and how it can entice","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3754s"},{"start_seconds":3761,"text":"crypto Builders so I'd like to invite to the stage our moderator Miss Joy","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3761s"},{"start_seconds":3770,"text":"mcnight hi there everybody I'm glad the people have come to see this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3770s"},{"start_seconds":3781,"text":"panel uh because we have a very exciting panel for you so I'm Joy mcnight I'm editor of the banker publication which","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3781s"},{"start_seconds":3788,"text":"is part of the financial times group and I have some fantastic expert panelists with me today um right beside me I have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3788s"},{"start_seconds":3796,"text":"Nuno Lima Deo who senior associate at Port in in Portugal at international law firm quatra classes and president of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3796s"},{"start_seconds":3805,"text":"Portuguese blockchain and cryptocurrencies Association next to him I have Josh Clayman who is us head of fintech and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3805s"},{"start_seconds":3813,"text":"head of blockchain and digital assets as well as co-head of global technology sector at Law Firm link lers uh and next","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3813s"},{"start_seconds":3822,"text":"to her I have Mary Beth Buchanan strategic advisor to the near Foundation as well as sitting on the board of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3822s"},{"start_seconds":3829,"text":"cardano foundation and has previously been a federal prosecutor uh and also a partner at a very large law firm uh so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3829s"},{"start_seconds":3837,"text":"it's a very legal heavy panel uh which is a good thing as we're discussing the eu's markets and crypto assets","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3837s"},{"start_seconds":3845,"text":"regulation or MAA which entered into force in June 2023 and is currently going through a consultation process","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3845s"},{"start_seconds":3853,"text":"with member states often hailed as a world first in the regulation of crypto assets so from the Banker's readership","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3853s"},{"start_seconds":3861,"text":"position uh I.E the banks this framework is very welcomed and it's something they've been waiting for before they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3861s"},{"start_seconds":3868,"text":"could really get actively engaged with the crypto assets and obviously many of them have been doing some things on the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3868s"},{"start_seconds":3874,"text":"side uh but the big institutions have really needed this regulatory Clarity so that they feel","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3874s"},{"start_seconds":3882,"text":"comfortable uh that they won't be on the receiving end of regulatory fines uh however what is clear is the eu's new","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3882s"},{"start_seconds":3889,"text":"framework approaches crypto Asset Services uh from the stand point of the traditional Market structure it draws","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3889s"},{"start_seconds":3897,"text":"heavily on existing rules such as the markets and financial instruments directive or miid among others to create","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3897s"},{"start_seconds":3904,"text":"a market design for financial instruments and it applies a regulatory principle of same activities same risk same rules which is intended to level","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3904s"},{"start_seconds":3913,"text":"the playing field for service providers so Banks and other intermediaries and financial Market","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3913s"},{"start_seconds":3920,"text":"infrastructures that require supervision are all app plotting the new regulatory framework or at least think it's a step","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3920s"},{"start_seconds":3928,"text":"in the right direction and Nuno I'm going to pose the first question to you well this is all well and good but then what does MAA bring to the crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3928s"},{"start_seconds":3937,"text":"Community you know what does it include and then what does it leave out well thank you uh it was a very very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3937s"},{"start_seconds":3945,"text":"good introduction so the the markets in crypto assets regulation um brings","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3945s"},{"start_seconds":3952,"text":"brings a lot to the table um it was intended the way it was designed","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3952s"},{"start_seconds":3959,"text":"initially was to tackle the Libra DM uh issue Facebook meta Facebook yeah yeah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3959s"},{"start_seconds":3966,"text":"uh so uh basically the way that uh met wanted to um to proceed with and to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3966s"},{"start_seconds":3973,"text":"launch uh um an art an essage reference token uh as the way they intended um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3973s"},{"start_seconds":3981,"text":"that could that was uh um that was a way and could bring a little bit of disruption to the to the financial","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3981s"},{"start_seconds":3991,"text":"stability and um and the monetary policy throughout the world yeah so the central","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3991s"},{"start_seconds":3998,"text":"banks as soon as they made that announc all exactly they were on it IM imagine the whole the whole community and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=3998s"},{"start_seconds":4005,"text":"users that uh are within Facebook getting a token that they could uh easily use to to pay for Services um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4005s"},{"start_seconds":4015,"text":"there are a lot of users for Facebook so yeah that was the biggest the biggest um um motivation for the European Union to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4015s"},{"start_seconds":4024,"text":"to launch this uh this regulation um in in uh in our jurisdiction so basically","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4024s"},{"start_seconds":4032,"text":"Mika tried to tackle that issue first basically it's constructed as a way to to regulate um asset reference tokens and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4032s"},{"start_seconds":4041,"text":"e-money tokens the typically the the stable coins that we know nowadays usdc usdt whatever so that was the the the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4041s"},{"start_seconds":4050,"text":"the the the main the main focus of this regulation and after that because we as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4050s"},{"start_seconds":4056,"text":"every law must be it needs to be General and applicable to a lot of different different uh subjects and not just only","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4056s"},{"start_seconds":4065,"text":"for a a specific Target uh they've built um other things around that so nowadays","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4065s"},{"start_seconds":4074,"text":"we have a um a good a good framework that regulates the crypto asset service providers how they provide their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4074s"},{"start_seconds":4083,"text":"services what type of services are comprised in that regulation um and the requirements that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4083s"},{"start_seconds":4090,"text":"they need to have in order to provide those kind of services I think it will be a a very good uh very good framework","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4090s"},{"start_seconds":4098,"text":"and under the well under the the typical Brussels effect that the regulation in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4098s"},{"start_seconds":4104,"text":"the European Union as um throughout the world I think it will be a major landmark and be replicated the the basic","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4104s"},{"start_seconds":4113,"text":"things that mik says uh will be replicated in other jurisdictions um but um yeah in terms of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4113s"},{"start_seconds":4121,"text":"what it does it include and what it leaves out of of that regulation it includes um our um crypto asset service","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4121s"},{"start_seconds":4130,"text":"provider must must um must register the the needs that they have the requirements um let's say for example","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4130s"},{"start_seconds":4139,"text":"the the the the need to um to to separate funds from clients from the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4139s"},{"start_seconds":4146,"text":"users and their own funds um well FDX yeah could could have been tackled if if","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4146s"},{"start_seconds":4154,"text":"M was was already in uh into force and uh FTX was registered in in the European","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4154s"},{"start_seconds":4161,"text":"Union uh that could have been prev vented let's say so yeah it has a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4161s"},{"start_seconds":4167,"text":"um a lot of um um a lot of lot of requirements that uh provide","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4167s"},{"start_seconds":4175,"text":"some kind of clarity to the end user and uh it's it's all about consumer protection in the end of the day so uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4175s"},{"start_seconds":4183,"text":"it brings a lot of a lot into the table on that side well it leaves out um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4183s"},{"start_seconds":4190,"text":"nfts because it's a very complex issue to to to to tackle because nfts you you must see the underlying asset that is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4190s"},{"start_seconds":4199,"text":"being represented by an nft nowadays it's mostly IP IP content or IP uh IP","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4199s"},{"start_seconds":4206,"text":"assets that are being represented as an nft but an nft and ERC uh 7 uh 721 or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4206s"},{"start_seconds":4215,"text":"1155 uh has a lot of uh complexity and uh so nfts were left left left aside and this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4215s"},{"start_seconds":4224,"text":"centralized um D5 projects were also left uh out of of this regulation because it's a also a very complex issue","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4224s"},{"start_seconds":4233,"text":"to tackle so um yeah basically nfts on that side real nonf fungible tokens are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4233s"},{"start_seconds":4240,"text":"left out of MAA and defi so um but I think it will be Revisited uh in the near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4240s"},{"start_seconds":4249,"text":"future as long as the the legislator the lawmakers the Regulators start to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4249s"},{"start_seconds":4255,"text":"understand how everything works uh yeah because there these different phases of consultation that's still happening yeah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4255s"},{"start_seconds":4263,"text":"exactly exactly um we'll have some time to to to do that Mary Beth I was going","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4263s"},{"start_seconds":4270,"text":"to bring in you bring yourself in now um so what are the pros and cons for small and mediumsized companies or projects","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4270s"},{"start_seconds":4278,"text":"sure first I'd like to thank all the hearty participants out there who enjoyed the great party last night and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4278s"},{"start_seconds":4286,"text":"are still here and you're awake so thank you for being here um because this is definitely one of the highlights of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4286s"},{"start_seconds":4294,"text":"conference the MAA legislation um there are definitely um pros and cons and I would say the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4294s"},{"start_seconds":4303,"text":"absolute biggest Pro is that with this expansive legislation the European Union","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4303s"},{"start_seconds":4311,"text":"is sending a loud and clear message that crypto assets are welcome and you know this might not seem like a big thing but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4311s"},{"start_seconds":4319,"text":"it is huge um because so many businesses that that operate globally in the crypto asset space are always wondering you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4319s"},{"start_seconds":4327,"text":"know are we welcome are we not welcome what what's the law um you know if we come here are we going to have a hard time operating so to have this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4327s"},{"start_seconds":4337,"text":"legislation is is a you know a welcome M bring your business to the European Union the this the second major um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4337s"},{"start_seconds":4345,"text":"benefit is the passport ability of the license and again another huge game","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4345s"},{"start_seconds":4351,"text":"Cher having been general counsel to a European crypto asset business I can tell you that it is really hard uh or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4351s"},{"start_seconds":4360,"text":"was really hard uh before M to try to decide where we want to do business across Europe and you know there's very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4360s"},{"start_seconds":4369,"text":"little distance obviously the countries are so close yet the rules are so different and without having the ability to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4369s"},{"start_seconds":4376,"text":"passport uh companies have to be really careful about deciding where they want to do business and it's it's no small","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4376s"},{"start_seconds":4384,"text":"business decision and these decisions um involve the commitment of significant resources uh in some cases the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4384s"},{"start_seconds":4392,"text":"commitment to actually physically move a business and have certain employees to be present in certain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4392s"},{"start_seconds":4399,"text":"jurisdictions and these decisions aren't made lightly and and they're obvious L made at the board level and so they take","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4399s"},{"start_seconds":4406,"text":"a long time to make those decisions and then in some cases even after um you know a particular business model has","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4406s"},{"start_seconds":4413,"text":"been vetted and the company moves into a jurisdiction the deal flow uh isn't there and then they realize that they put a lot of resources into a particular","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4413s"},{"start_seconds":4422,"text":"country and they're going to have to change course so passport ability number one um I would say the major cons you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4422s"},{"start_seconds":4431,"text":"know for a small to medium business uh would be the increased compliance burdens so some of the you know bigger institutions they they've already had","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4431s"},{"start_seconds":4439,"text":"these programs in place and so this isn't a significant thing for them but for a small business to have to certify","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4439s"},{"start_seconds":4448,"text":"that each particular crypto asset is appropriate for a particular customer and that the compliance programs are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4448s"},{"start_seconds":4456,"text":"adequate to protect that customer that's a pretty high burden and if if the company fails to meet that burden the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4456s"},{"start_seconds":4465,"text":"penalty is 12 1 12% profits I mean huge I mean that's three times bigger than a gdpr violation so this is something that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4465s"},{"start_seconds":4475,"text":"they really need to get right and put the the proper procedures in place to make sure uh that they can meet that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4475s"},{"start_seconds":4483,"text":"burden uh something that Nuno did mention one one of the downsides is that there are some activities that are left","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4483s"},{"start_seconds":4490,"text":"out the nfts and um defi activities and I I think he's correct that over over","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4490s"},{"start_seconds":4498,"text":"the next uh year or two um there still will be some significant debate about particular defi activities and whether","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4498s"},{"start_seconds":4506,"text":"some defi activities may get swept in and so I think that the final word on this probably has not yet been written","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4506s"},{"start_seconds":4515,"text":"and we'll we'll have to see uh see what happens there but overall it's it's a strong message for crypto assets across","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4515s"},{"start_seconds":4523,"text":"the European Union and hopefully other countries around the world including the US will uh take a page out of this book","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4523s"},{"start_seconds":4531,"text":"well I have to say you did a great segue into the next question which is for Josh and so Josh you know what is the uh how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4531s"},{"start_seconds":4539,"text":"does MAA for example and what's happening in terms of the EU how does that compare to the regulatory environment in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4539s"},{"start_seconds":4546,"text":"US so I don't think that the US has frequently been accused of providing clarity","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4546s"},{"start_seconds":4554,"text":"for digital assets regulation um unless you speak with Regulators um but so that's one difference right but I think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4554s"},{"start_seconds":4562,"text":"part of that is because rather than having a statute or or a agreement of some sort we have case law right and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4562s"},{"start_seconds":4569,"text":"case law has grown up in different sorts of ways and we have principles based laws now we do have statutes like the the 33 act the Securities act or the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4569s"},{"start_seconds":4578,"text":"exchange act the 34 act and so on but we have lots of reg Regulators that overlap they have overlapping","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4578s"},{"start_seconds":4585,"text":"jurisdiction and I think people are pretty familiar with that now you know the well-worn test the Howie test and tests about whether something looks like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4585s"},{"start_seconds":4593,"text":"a note that is a security right the Reeves test family resemblance test which are are lesser known but I think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4593s"},{"start_seconds":4600,"text":"what I would say is the regulatory perimeter the concept that something would be outside of the regulatory perimeter is kind of foreign to our our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4600s"},{"start_seconds":4609,"text":"Regulators in the US um because so so much is focused on how is something offered how is something marketed how is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4609s"},{"start_seconds":4617,"text":"something sold so looking at the activities as well what this means is that while under MAA nfts and defi are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4617s"},{"start_seconds":4626,"text":"are expressly left out the SEC has made clear that nfts can be in their view","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4626s"},{"start_seconds":4634,"text":"Securities and has had some recent settlements with um impact Theory and Stoner cats right and with respect to defi we've seen proposed rule changes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4634s"},{"start_seconds":4643,"text":"that would expand the definition of exchange to try and capture aspects of defi that currently aren't captured under under existing law we've also seen","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4643s"},{"start_seconds":4652,"text":"courts within the US really grappling with these issues and sometimes pushing back on The Regulators in ways that I don't think The Regulators necessarily","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4652s"},{"start_seconds":4659,"text":"expected also with respect to defi you may be aware of the recent private action that was attempted to be brought","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4659s"},{"start_seconds":4666,"text":"um against unisoft Labs right where the court there which happens to be the same judge that's decided in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4666s"},{"start_seconds":4673,"text":"secv coinbase and that was the judge for the tornado cash action um by treasury","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4673s"},{"start_seconds":4680,"text":"in the US where that judge said actually you know the SEC hasn't really we're not there yet Congress needs to act right","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4680s"},{"start_seconds":4689,"text":"this is a matter for Congress and that's something that I think a lot of people in the US have been saying for a while of course the Congress has its own","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4689s"},{"start_seconds":4696,"text":"challenges I would just plant a seed about something that I think is coming down the pike which is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4696s"},{"start_seconds":4703,"text":"is you know the same Regulators that are very concerned about digital Assets in the US are the same ones that are now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4703s"},{"start_seconds":4711,"text":"very worried about AI right and both of these industries have incredible promise and as The Regulators will remind us you know attendant potentially serious risks","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4711s"},{"start_seconds":4720,"text":"and I think within the US there's an increased focus on National Security actually just did a um a podcast about this but why I say this is that there","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4720s"},{"start_seconds":4729,"text":"have been some things that have come along over the years but they've not been fully developed the US Department of com Commerce is not one of those","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4729s"},{"start_seconds":4738,"text":"agencies that really comes to mind in our space we think SEC cftc finsen Etc but actually there are some things in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4738s"},{"start_seconds":4746,"text":"the works that could expand the kind of kyc AML CFT sanctions stuff to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4746s"},{"start_seconds":4753,"text":"infrastructure providers like infrastructure as a service providers and if you think about our industry you know if you're not a Money Services","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4753s"},{"start_seconds":4761,"text":"business you're not a money transmitter I'm just infrastructure just keep this in mind you'll also see if you saw Biden's executive order on AI I know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4761s"},{"start_seconds":4769,"text":"that's a little bit outside of this but I'm telling you these agencies are all coming together there's a really high focus on National Security as well as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4769s"},{"start_seconds":4777,"text":"competition and the Department of Commerce is going to play a key role in that too so I would just say keep your eyes peeled for the Department of Commerce um and yeah there are lots of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4777s"},{"start_seconds":4786,"text":"differences between the US and Ma but I have to say that's so interesting so thanks for raising that at something that never really occurred to me either","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4786s"},{"start_seconds":4794,"text":"uh Mary Beth I was going to ask the next question to you which is you know all the things I said at the beginning of the banks and the big institutions now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4794s"},{"start_seconds":4802,"text":"have the ability to actually engage with the crypto assets Etc under MAA you know do you think do you think what I said","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4802s"},{"start_seconds":4811,"text":"was actually true in the terms of do you think that it provides that framework for the big institutions to get involved and then do you think they'll all go","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4811s"},{"start_seconds":4818,"text":"rushing in yeah I I think that um the the Banks the big banks are really the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4818s"},{"start_seconds":4825,"text":"the true winners here with with ma because the crypto asset businesses that are not financial institutions have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4825s"},{"start_seconds":4834,"text":"apply uh for authorization to to operate under ma whereas the banks as as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4834s"},{"start_seconds":4841,"text":"financial institutions and persons uh do not have have to apply for authorization but they do have to meet the notice","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4841s"},{"start_seconds":4849,"text":"Provisions so they have to notify their you know home home regulator that they intend to offer crypto assets and they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4849s"},{"start_seconds":4857,"text":"have to file the white paper but that white paper doesn't have to be approved by anyone and of course they have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4857s"},{"start_seconds":4864,"text":"comply with all of the compliance requirements but you know for a big bank they already have uh extensive","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4864s"},{"start_seconds":4872,"text":"compliance procedures they have anti-money laundering programs they have terorist financing programs they have you know sanction programs and so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4872s"},{"start_seconds":4880,"text":"they're already ahead of the game um the the other area is that uh you know they already already have been segregating customer accounts and this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4880s"},{"start_seconds":4890,"text":"might not seem like a big deal but for a small crypto asset business many of them have been operating you with with an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4890s"},{"start_seconds":4897,"text":"Omnibus wallet and they were not segregating uh you know uh customer funds in separate accounts so for some","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4897s"},{"start_seconds":4906,"text":"of those businesses even just doing that you know is a hurdle but for the banks they're already so so far out ahead of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4906s"},{"start_seconds":4913,"text":"the game um and I think that the banks uh particularly in the US have been sitting on the sidelines realizing that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4913s"},{"start_seconds":4922,"text":"there's a lot of opportunity in offering crypto assets and they have been wanting to do it um but because of the lack of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4922s"},{"start_seconds":4929,"text":"clarity the banks have not gotten in you know not gotten into the game and and they're not offering crypto assets and so their customers are kind of being","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4929s"},{"start_seconds":4938,"text":"left out but here now that they've gotten the green light uh they will be able ble to offer those assets uh you know to to their bigger uh and smaller","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4938s"},{"start_seconds":4947,"text":"Financial clients excellent you know do you think the banks will be rushing in yeah I've been seeing a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4947s"},{"start_seconds":4954,"text":"movement on that area even in Portugal um we have clients that are moving towards that direction this is a a boat","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4954s"},{"start_seconds":4963,"text":"that has set sail a long time ago so uh there's no way to uh to circumvent or to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4963s"},{"start_seconds":4970,"text":"ignore um this space of the digital assets and and crypto assets for for that part um yeah I think that the the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4970s"},{"start_seconds":4980,"text":"yep as as Mary Mary said uh Mary Beth said um this this regul regulatory","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4980s"},{"start_seconds":4989,"text":"package was basically built to allow for financial institutions to come on board","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4989s"},{"start_seconds":4995,"text":"and the trefi to come on board on this new reality and the process of getting on board in this new industry uh it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=4995s"},{"start_seconds":5004,"text":"much more simpler for the trfy industry because the you they have they have that all that compliance and structure that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5004s"},{"start_seconds":5013,"text":"they have facilitates this this onboarding because we can't uh we can't forget that mik is basically constructed","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5013s"},{"start_seconds":5020,"text":"as a way to protect the consumer the end the end user um so um well try is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5020s"},{"start_seconds":5028,"text":"typically we have some some some some issues sometimes but um it's basically constructed to give that confidence and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5028s"},{"start_seconds":5036,"text":"to be a trustable environment for the investors and the end users so I think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5036s"},{"start_seconds":5043,"text":"yeah that um m m allows for for that process to be much more clearer and um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5043s"},{"start_seconds":5052,"text":"to bring that Level Playing Field as you said uh to the to the whole industry on that side but I I I wanted to to say uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5052s"},{"start_seconds":5060,"text":"as well that um to pick up on what Mary bet said that um well this will be very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5060s"},{"start_seconds":5069,"text":"very harsh to to to smaller projects to to come on board because the requirements uh are very very um very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5069s"},{"start_seconds":5079,"text":"burdensome uh for for smaller projects and uh everyone will need to to address","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5079s"},{"start_seconds":5086,"text":"if they are on a starting point if they are really a crypto asset service provider and they the the Le legal definition and then how they can tackle","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5086s"},{"start_seconds":5096,"text":"uh all the requirements that that M brings and I I think that a lot of m&a movements will come on board uh where","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5096s"},{"start_seconds":5105,"text":"big traditional web 2 web 1 uh corpor corporations will try to uh to acquire","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5105s"},{"start_seconds":5113,"text":"or to include or to to uh to bring on board some kind of uh some projects that are still developing and they want or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5113s"},{"start_seconds":5122,"text":"that want to develop this this type of products so yeah uh to to to give a a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5122s"},{"start_seconds":5130,"text":"much shorter answer to your question yeah I think that the banks and the trefi industry um will get on board now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5130s"},{"start_seconds":5137,"text":"because they have a legal Clarity and uh it's not a it's not a traveling on uh uncharted waters now yes exactly well I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5137s"},{"start_seconds":5147,"text":"just wanted to close because it's a bit of a shame because we only have like two minutes left uh but I just wanted to close with the question that was posed","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5147s"},{"start_seconds":5154,"text":"as the topic of this panel which is like is it enough to entice crypto Builders the crypto Builders to come uh to the EU","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5154s"},{"start_seconds":5164,"text":"has EU has the E my my other question was has the EU really stolen a March uh on other jurisdictions and back to your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5164s"},{"start_seconds":5171,"text":"point you know about you know you you expect it to be replicated in other jurisdictions so you know does it but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5171s"},{"start_seconds":5179,"text":"does it like include the whole Community will it entice the crypto Builders well to to be to be very uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5179s"},{"start_seconds":5188,"text":"summary to summarize everything yeah I I think it will it is enough to antise crypto Builders um it provides a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5188s"},{"start_seconds":5197,"text":"legal Clarity and foreen ability for for for the future uh on that side so I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5197s"},{"start_seconds":5203,"text":"think it will um it will entites the crypto Builders to to build more and to build with uh with more clarity it on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5203s"},{"start_seconds":5212,"text":"what they can build or not uh and one of the pillars of M was was also um to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5212s"},{"start_seconds":5220,"text":"allow for um to have new new sorts of or new ways to uh to finance the way uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5220s"},{"start_seconds":5228,"text":"that you do some some kind of BU business so uh it was one of the pillars and the European the European Union and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5228s"},{"start_seconds":5236,"text":"the European commission uh addressed that so um doing iOS or initial crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5236s"},{"start_seconds":5243,"text":"offerings um is one of the ways that uh uh um that MAA tries to to abridge that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5243s"},{"start_seconds":5250,"text":"so um I think it will be very good to uh to um to build more and build better in that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5250s"},{"start_seconds":5258,"text":"sense Josh we have like yes or no almost time i' like you think it will I mean I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5258s"},{"start_seconds":5266,"text":"think yes I think MAA has incentivized Builders um to to come but I think that's that's also just because as Mary","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5266s"},{"start_seconds":5275,"text":"B said it's a welcome mat right and so you know there talk about ma too and other things that will come along but I think really Builders want to build and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5275s"},{"start_seconds":5284,"text":"so if there's a jurisdiction that is not making it literally onerous for them and and potentially riskier than than it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5284s"},{"start_seconds":5291,"text":"should be Builders are going to build excellent uh yes or no Mary Beth yes it's a technology agnostic and uh it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5291s"},{"start_seconds":5300,"text":"clear that they're not regul the technology so yes I agree the build the builders will come excellent well thank you so much Mary Beth Josh Nuno I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5300s"},{"start_seconds":5309,"text":"thought it was a fantastic panel and thanks so much for our audience for braving and coming to watch it thank you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5309s"},{"start_seconds":5331,"text":"guys thank you so much uh to our panelist","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5331s"},{"start_seconds":5340,"text":"talking about European legislation we're now going to be flying over the Atlantic Ocean to North America a small country","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5340s"},{"start_seconds":5348,"text":"south of Canada which you may have heard of called the USA often been said that if the US regulator sneeze then the world of crypto will catch a cold and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5348s"},{"start_seconds":5356,"text":"that's precisely what we're going to be discussing today exporting Innovation how us crypto policy impacts absolutely everyone else uh so I'd like to welcome","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5356s"},{"start_seconds":5365,"text":"to the stage our moderator for today Mr Dave","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5365s"},{"start_seconds":5384,"text":"Rodman good morning everybody uh I'm Dave Rodman I'm the managing partner of the Rodman Law Group uh our biggest","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5384s"},{"start_seconds":5391,"text":"practice area is web 3 and we represent clients in every vertical from uh Venture funds like bankless Ventures to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5391s"},{"start_seconds":5400,"text":"defi trading platforms like parcel most gerine to this event uh we represent","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5400s"},{"start_seconds":5406,"text":"proximity uh room up there uh keom and our fearless leader Ilia um with me","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5406s"},{"start_seconds":5413,"text":"today are uh Lisa salow uh executive uh director of The Secret Network Foundation and Tina Baker","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5413s"},{"start_seconds":5422,"text":"of um biger Taylor sorry uh of circle uh and I'm going to let them uh introduce themselves hi everyone I'm Lisa loud","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5422s"},{"start_seconds":5431,"text":"executive director of secret Network and um I'm really honored to be on this panel today because uh my illustrious","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5431s"},{"start_seconds":5439,"text":"fellow panelists know a lot I have been in the crypto space since 2017 and I'm one of those people who has","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5439s"},{"start_seconds":5447,"text":"been affected by the US policy changes and the ups and downs um I come from Big","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5447s"},{"start_seconds":5454,"text":"Tech PayPal apple and have been in I was leading shape shift for a while and now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5454s"},{"start_seconds":5461,"text":"um really focused on privacy in in blockchain and how it's a good thing how it can be a good thing um not","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5461s"},{"start_seconds":5469,"text":"necessarily the bad thing that everyone seems to think it is but I have learned so much in our backstage conversations and I'm really excited about this panel","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5469s"},{"start_seconds":5478,"text":"so I will pass it over to you Tiana thanks can you guys hear me yes yes okay um I'm Tina Baker Taylor I'm the vice president","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5478s"},{"start_seconds":5487,"text":"of policy and strategy at Circle for the Europe Middle East and Africa um so I lead our engagement with government and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5487s"},{"start_seconds":5495,"text":"Regulators outside of the US um however prior to that I've I've been in the the policy space in this industry for about","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5495s"},{"start_seconds":5503,"text":"seven years um and my job before Circle was the chief policy officer at the Chamber of digital Commerce which is the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5503s"},{"start_seconds":5511,"text":"the largest um kind of trade body and advocacy arm for the digital asset industry um based in DC so I spent a lot","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5511s"},{"start_seconds":5519,"text":"of time um on Capitol Hill and with us Regulators as they were thinking through um what their reaction might be to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5519s"},{"start_seconds":5527,"text":"something like M so we just heard on the panel before that um Europe has progressed with regulatory um Clarity","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5527s"},{"start_seconds":5534,"text":"for this region which has a lot of benefits there's some cons for sure um but I think around the world we're seeing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5534s"},{"start_seconds":5542,"text":"jurisdictions um really attack um or approach uh how they're going to put","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5542s"},{"start_seconds":5550,"text":"rules of the road in place um in some cases very proportionately and practically in other other cases um with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5550s"},{"start_seconds":5558,"text":"a little bit more kind of focus on risk and and and strict rules um but what is clear is that as the US kind of sits","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5558s"},{"start_seconds":5567,"text":"back um and and struggles to get their arms around what to do the rest of the world is not yeah so I mean that that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5567s"},{"start_seconds":5574,"text":"what we're talking about here today uh so we're sitting in a European city and show of hands how many people are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5574s"},{"start_seconds":5583,"text":"American H maybe like half a little bit less uh how many times have we heard Gary gendler's name today or yesterday","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5583s"},{"start_seconds":5590,"text":"or or have we heard discussions about uh intricate IRS code um you know I would I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5590s"},{"start_seconds":5597,"text":"would posit that there is no other industry that intern and focus and permissionless in nature that spends so much time uh thinking about what it is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5597s"},{"start_seconds":5607,"text":"America does and what it is America says because it really it really does impact everyone um and I think uh Lisa uh you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5607s"},{"start_seconds":5616,"text":"had some very specific ways that uh non us exchanges were treating you your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5616s"},{"start_seconds":5623,"text":"project can you tell the audience about that a little bit yeah sure um well with in this last year it has become very difficult to maintain a bank account as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5623s"},{"start_seconds":5631,"text":"a crypto company and I actually have a company in Canada as well so I can tell you it's even worse in Canada um just","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5631s"},{"start_seconds":5640,"text":"the the risk appetite of the large institutions like the the banks in Canada is very very low so most of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5640s"},{"start_seconds":5648,"text":"crypto projects I know in Canada have been debanked recently um K coin has","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5648s"},{"start_seconds":5654,"text":"withdrawn from Canada uh binance has and these are all reflective of what's Happening in the US with the failure of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5654s"},{"start_seconds":5663,"text":"the big Banks Silicon Valley Bank and and the others signature um we're seeing that the rest of the world especially in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5663s"},{"start_seconds":5671,"text":"Canada in my case is very much like taking a okay hands off let's see what's going to happen um I think that's what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5671s"},{"start_seconds":5678,"text":"you were referring to it's also as uh from the point of view of a secret Network we are seeing that um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5678s"},{"start_seconds":5686,"text":"exchanges are deciding that even though secret network is our token is not a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5686s"},{"start_seconds":5694,"text":"privacy coin we have clear transactions we do confidential Computing we've seen companies like binance want to delist us","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5694s"},{"start_seconds":5702,"text":"threaten to delist us because we have that name secret right and they're withdrawing from Canada in the US and they're saying okay we can't have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5702s"},{"start_seconds":5710,"text":"anything to do with anything that is privacy related because it funds money laundering it you know it's funds terrorist activities we need to take a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5710s"},{"start_seconds":5719,"text":"step back or we're going to get consequen so that's been really challenging even as um even as a confidental Computing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5719s"},{"start_seconds":5727,"text":"platform layer one we are seeing the problems that are happening with the the US enforcement by regulation by","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5727s"},{"start_seconds":5735,"text":"enforcement actions yeah and uh Tina you work for a true multinational um how do how does","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5735s"},{"start_seconds":5742,"text":"Circle think about uh us regulations as it pertains to its operations in Europe","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5742s"},{"start_seconds":5749,"text":"SE for set yes well obviously we um are a pro regulation company we're a very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5749s"},{"start_seconds":5755,"text":"centralized company um and you know as the issuer of a fully backed onetoone uh reserved digital dollar","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5755s"},{"start_seconds":5765,"text":"there is certainly a US Nexus for our company um which is impossible to deny um so one of the things that um circle","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5765s"},{"start_seconds":5773,"text":"is obviously very committed to and focused on is working with policy makers to um Implement uh very specific uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5773s"},{"start_seconds":5782,"text":"guidelines and rules for stable coins and there is a a bill at the moment that has passed the house Financial Services committee um and we're hoping that that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5782s"},{"start_seconds":5791,"text":"bill progresses through Congress ideally this session um there's been a lot of focus on stable coin um policy in the US","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5791s"},{"start_seconds":5800,"text":"and and and around the world and I think that has to do with that Nexus right um so you'll you are creating an an asset","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5800s"},{"start_seconds":5807,"text":"that is reflective of an underlying currency um Circle also has uh a digital Euro um Euro coin and so that's also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5807s"},{"start_seconds":5816,"text":"backed by Euros just like usdc is backed by dollars and so when you're operating in those contexts and you're able to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5816s"},{"start_seconds":5824,"text":"plug into potentially the the traditional payments ecosystem um there needs to be very clear understanding of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5824s"},{"start_seconds":5830,"text":"obligations and um the earlier panel was talking about segregation of assets and where those reserves are held and how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5830s"},{"start_seconds":5837,"text":"Etc um so we're uh very supportive of the US progressing with with those um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5837s"},{"start_seconds":5844,"text":"guidelines and hopefully um we start to see countries around the world looking","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5844s"},{"start_seconds":5851,"text":"at how they're going to um regulate not just stable coins but crypto assets more generally with a with a lens of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5851s"},{"start_seconds":5858,"text":"equivalence right um or harmonization to some degree because as we're you know we're talking about M and the panel","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5858s"},{"start_seconds":5866,"text":"before there's very strict guidelines for how stable coins can be offered in Europe um and those depend on whether or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5866s"},{"start_seconds":5873,"text":"not it is a European denominated stable coin or us or other denominated stable coin um and so how do those rules then","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5873s"},{"start_seconds":5880,"text":"align with a home jurisdiction for a US denominated stable coin there could be a lot of of oversight and supervisory","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5880s"},{"start_seconds":5888,"text":"friction there if the rules are so so different um and we're starting to see that in other jurisdictions where you know hopefully regulators and policy","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5888s"},{"start_seconds":5896,"text":"makers are picking up the phone um and calling each other or working through you know the the global government bodies that we have like the bis and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5896s"},{"start_seconds":5905,"text":"financial um stability board and uh a good example of this would be fatf right the financial action task force which a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5905s"},{"start_seconds":5913,"text":"couple of years ago um created these guidelines for every country in the world basically um to put in place money","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5913s"},{"start_seconds":5922,"text":"laundering um prevention uh specifically for crypto assets which is very reflective of the bank secrecy act and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5922s"},{"start_seconds":5930,"text":"which already EX existed right and I think it is um you know no coincidence that the US was uh the president of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5930s"},{"start_seconds":5938,"text":"fat during this period right when these guidelines were enforced um so but what that did do was create a Level Playing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5938s"},{"start_seconds":5947,"text":"Field around the world for um crypto asset businesses to understand what their money laundering and and counterterrorism prevention obligations","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5947s"},{"start_seconds":5956,"text":"were and so hopefully as we start looking at bringing up other types of specifically centralized um crypto asset","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5956s"},{"start_seconds":5964,"text":"activity into the regulated perimeter like Josh mentioned earlier um we're doing that in a way that's consistent","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5964s"},{"start_seconds":5971,"text":"that allows global companies and not just you know a global company but digital assets by their nature are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5971s"},{"start_seconds":5979,"text":"borderless and so they're going to move around um and if we don't have um some","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5979s"},{"start_seconds":5986,"text":"level of harmonization of those rules I think it's going to to create a lot of friction and more potential regulatory","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5986s"},{"start_seconds":5994,"text":"Arbitrage like we've seen previously I I just wanted to add to that it it can also create this sort of Walled Garden where certain people are walled off from","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=5994s"},{"start_seconds":6003,"text":"participating in like some of the the US regulations I've been looking at with um exchanges being proactive in reporting","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6003s"},{"start_seconds":6012,"text":"who's interacting on their platforms and then if any wallet is um is touching a mixer it has to be um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6012s"},{"start_seconds":6021,"text":"out yeah so these these are things that could potentially prevent certain groups and certain regions from participating","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6021s"},{"start_seconds":6029,"text":"in the global economy which is you know is meant to be borderless I think people will still participate it's just they won't have the legal right to do so I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6029s"},{"start_seconds":6038,"text":"mean that's that's one of my fears is we end up into uh like a true dichotomy of crypto in the US crypto everywhere else","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6038s"},{"start_seconds":6046,"text":"it can go one way but it can't go back another way you know you touch a tornado cash wallet and you can't use that the rest of the assets that are in that wall","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6046s"},{"start_seconds":6054,"text":"in the US I me that's that's the sort of thing that keeps me up at night because uh as an American citizen proud of our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6054s"},{"start_seconds":6062,"text":"tech industry to an extent they're not evil uh but really has driven our economy for the last 20 years um the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6062s"},{"start_seconds":6071,"text":"idea of what we would be currently like if in the first year of operations Google had been told no you have to go to the Cayman Islands or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6071s"},{"start_seconds":6080,"text":"sorry you have to go to Marius uh you we wouldn't have the products that we have now uh so that that is my my fear as a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6080s"},{"start_seconds":6090,"text":"someone who supports the space is this exact thing but see I think what's happening is that um the the way that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6090s"},{"start_seconds":6099,"text":"this capital is able to be deployed in this borderless way we're seeing Capital now deployed in you know southeast Asia","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6099s"},{"start_seconds":6108,"text":"and the Middle East and you know areas of you know Japan other G20 G7 countries","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6108s"},{"start_seconds":6116,"text":"and so you know if we have G7 countries like the UK um and the US which are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6116s"},{"start_seconds":6123,"text":"approaching this on a very activity specific Case by case um and leaning","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6123s"},{"start_seconds":6130,"text":"into as Josh mentioned you know that case law where the president sits as opposed to kind of looking at this as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6130s"},{"start_seconds":6137,"text":"net new economic activity that is Deployable in a way that was not previously available to us","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6137s"},{"start_seconds":6145,"text":"before you you're going to have challenges in being able to apply this type of activity into the existing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6145s"},{"start_seconds":6152,"text":"Frameworks and so what happens to those countries um and I think that there is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6152s"},{"start_seconds":6158,"text":"the potential for um those jurisdictions that don't kind of pony up to the table","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6158s"},{"start_seconds":6166,"text":"and start um addressing this in a proportionate practical way um that that the capital will just leap over those","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6166s"},{"start_seconds":6175,"text":"countries and I think that's one of the challenges we're seeing in the US where companies are thinking about leaving or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6175s"},{"start_seconds":6181,"text":"indeed leaving and moving to places like you know Portugal for example um as a as a key attractor but we're seeing that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6181s"},{"start_seconds":6190,"text":"happen now with companies looking to move to South Korea looking to move to Dubai looking to move to Abu Dhabi um because there's a clear framework","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6190s"},{"start_seconds":6198,"text":"there's access to Banks bank accounts um there's access to other Professional Services it's not just enough to put in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6198s"},{"start_seconds":6206,"text":"place um a regulatory framework but you know we we've seen these challenges in the UK where there's rules but then you can't get a bank account and you can't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6206s"},{"start_seconds":6214,"text":"get a an auditor and you can't get insurance and so how is a regulated business supposed to operate without","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6214s"},{"start_seconds":6222,"text":"those um Professional Services that that everybody needs um so I think that there is the potential for I the idea that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6222s"},{"start_seconds":6230,"text":"everybody every body's going to pack up and leave the US I also think is a bit absurd um but it becomes a real capital","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6230s"},{"start_seconds":6238,"text":"investment both in um time uh money and just a lot of energy for those businesses that continue to show up in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6238s"},{"start_seconds":6246,"text":"the US and try and push forward you know practical balanced policy well yeah I mean like how many Founders do we have in the room show of hands you know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6246s"},{"start_seconds":6256,"text":"normal us startup uh Canadian startup 100 bucks to incorporate uh a C Corp uh you know standarded","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6256s"},{"start_seconds":6263,"text":"crypto incorporation in the Cayman Islands $122,000 BVI $4,000 this the sheer friction to that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6263s"},{"start_seconds":6271,"text":"that is uh well and that's not necessarily going to change either even when those rules are in place you know I think Mary Beth mentioned it's not just","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6271s"},{"start_seconds":6280,"text":"enough to go to Spain and apply for a vasp license you now need a general manager you now need a head of Finance","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6280s"},{"start_seconds":6288,"text":"you need a a money laundering reporting officer you need a chief compliance officer those are four senior expensive","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6288s"},{"start_seconds":6295,"text":"people and they need to live in Spain and they need to be running that business separately agnostically from the parent right so you know when you're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6295s"},{"start_seconds":6302,"text":"thinking about relocating there's a lot of considerations um but if companies are looking at that and still deciding that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6302s"},{"start_seconds":6311,"text":"it is a good move for them because the situation at home is so um untenable I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6311s"},{"start_seconds":6319,"text":"think that really speaks to the challenge at the in the US at the moment well I I think how realistic is it to expect that the US I mean regulation in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6319s"},{"start_seconds":6328,"text":"the US moves very very slowly and the rate of acceleration of technology is increasing and increasing defi today is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6328s"},{"start_seconds":6336,"text":"nothing like defi was a year ago and five years ago didn't exist so how is it even possible like what else did we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6336s"},{"start_seconds":6345,"text":"expect right except that Regulators would not know would not have a clue what to do with this new thing these new","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6345s"},{"start_seconds":6352,"text":"asset classes and how realistic is it to think that we can solve this like what does the future hold really in the US","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6352s"},{"start_seconds":6360,"text":"well I mean I think the answer to that is we need to see the pruning of the jocy and a bunch of senators who are over the age of 70 need to die or leave","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6360s"},{"start_seconds":6368,"text":"office so that younger people who understand these things can take uh elected office and actually have uh practical rules that's just my own","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6368s"},{"start_seconds":6377,"text":"personal view not not my firm's view or anything like that but uh oh and I didn't start with this uh some of us are lawyers up here but we're not your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6377s"},{"start_seconds":6385,"text":"lawyers this is all just educational information um that's my standard disclaimer uh but yeah truly I think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6385s"},{"start_seconds":6393,"text":"that the the real change is going to happen when there's a regime change in in the US so I I certainly um as an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6393s"},{"start_seconds":6401,"text":"American who hasn't lived in the US for 20 years I mean I I sit back and kind of watch some of the things that are happening and um am baffled hi um you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6401s"},{"start_seconds":6412,"text":"know the idea that there's no speaker of the house and it takes weeks to get one right it's it's we put these people in office to govern and sometimes I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6412s"},{"start_seconds":6420,"text":"question whether or not they remember that that's what they're there to do however having said that I think that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6420s"},{"start_seconds":6426,"text":"there are um ways in which the industry can show up participate have a place at","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6426s"},{"start_seconds":6434,"text":"the table um and and actually proactively um contribute to these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6434s"},{"start_seconds":6441,"text":"policy discussions in a meaningful way I look at Ma and through the the lens of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6441s"},{"start_seconds":6449,"text":"it's it's it's a successful um regime or you know it purports to be we'll see what happens once it's implemented um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6449s"},{"start_seconds":6458,"text":"but there's a number of things within it that are just impractical or or maybe actually technologically impossible to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6458s"},{"start_seconds":6466,"text":"comply with and the reason some of those things are in there are because nobody was talking to the European commission","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6466s"},{"start_seconds":6475,"text":"as these things were being drafted and then when it got to kind of the end and this trialogue period then everybody was like oh my God this is like really bad","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6475s"},{"start_seconds":6484,"text":"but it was too late right so you know I I think on the panel earlier Josh mentioned the Department of Commerce","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6484s"},{"start_seconds":6491,"text":"there there are areas of government that are getting involved in these policy discussions uh the National Institute for standards and technology is another","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6491s"},{"start_seconds":6499,"text":"one um they have an open consultation out they're looking at AI they're looking at crypto assets they're looking at kind of the future of money um so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6499s"},{"start_seconds":6507,"text":"there are ways that the industry can contribute to education that I think are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6507s"},{"start_seconds":6515,"text":"absolutely imperative and especially in areas around privacy versus secrecy just because something is private doesn't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6515s"},{"start_seconds":6522,"text":"mean that I'm doing something wrong or that I'm withholding information that you should have right I have a right to privacy and being able to distill","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6522s"},{"start_seconds":6531,"text":"um privacy preserving Technologies and what those are and how they're used I think is a a critical area where we can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6531s"},{"start_seconds":6538,"text":"educate um I think identity is another area inter um so I think that if we take","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6538s"},{"start_seconds":6547,"text":"those areas where they're not specifically battling about what's decentralization and what's not and we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6547s"},{"start_seconds":6554,"text":"start to focus on education across a broad piece instead of kind of hiding in the corner and waiting for something to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6554s"},{"start_seconds":6562,"text":"happen to us I think we'll get potentially better results well at leis I think you had some I just wanted to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6562s"},{"start_seconds":6569,"text":"interject a funny story um and what you were saying about not talking to the regime I there was a funny story in one","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6569s"},{"start_seconds":6575,"text":"of the states they had a bill proposed that um if anything happened on the blockchain the the government would have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6575s"},{"start_seconds":6583,"text":"the the ability to force a fork of the blockchain which is just a I mean if you're in blockchain of obviously it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6583s"},{"start_seconds":6591,"text":"an absurd idea but the fact that lawmakers thought that that was a possible response to force a blockchain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6591s"},{"start_seconds":6598,"text":"a layer one blockchain to actually fork in order to correct something that had happened that was illegal is just like a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6598s"},{"start_seconds":6605,"text":"really good example of how you have to you do have to talk to the lawmakers but I didn't want to interrupt you about the Privacy difference between privacy and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6605s"},{"start_seconds":6614,"text":"secrecy I think that's what you were about I was actually you were talking about your efforts on the hill with uh lobbying uh yeah so lobbying um recently","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6614s"},{"start_seconds":6622,"text":"was Global encryption day and so we're part of the universal privacy Alliance Group which um together with stand with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6622s"},{"start_seconds":6630,"text":"crypto from coinbase um had a congressional briefing with Tom emmer on October 17th so we went to talk about","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6630s"},{"start_seconds":6640,"text":"privacy why privacy is important why it's not a bad word and uh how important it is to have private privacy preserving","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6640s"},{"start_seconds":6648,"text":"Technologies and uh I've heard even today I keep hearing this this note of well I don't have I'm not doing anything","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6648s"},{"start_seconds":6656,"text":"bad so I don't have anything to hide even regular people think that that is a reasonable thing to say but it's not absolutely not it's not reasonable","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6656s"},{"start_seconds":6665,"text":"because you don't keep your curtains open all the time in your house because you you do need privacy we just take","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6665s"},{"start_seconds":6673,"text":"privacy for for granted right now and I think we're sleepwalking into a future where that priv all our rights to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6673s"},{"start_seconds":6680,"text":"privacy could be eroded away and suddenly we're like wait what kind of a world do we live in now oh the the uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6680s"},{"start_seconds":6689,"text":"end result of a cbdc is an absolute uh dystopian future where uh you know you have one too many big Maxs and your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6689s"},{"start_seconds":6697,"text":"insurer sees that you've paid 100% And and then your your health insurance goes up I mean that's a real outcome that could happen and I know that circle's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6697s"},{"start_seconds":6705,"text":"working really hard to to have that not be our outcome but I mean yeah that that is a very real real uh possibility when you look at the amount of data that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6705s"},{"start_seconds":6713,"text":"about running around around running about around us already right so if you look at you know payment apps like you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6713s"},{"start_seconds":6722,"text":"know Apple pay Apple has an awful lot of information about you um they're probably one of the better uh privacy","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6722s"},{"start_seconds":6729,"text":"Advocates uh amongst their con kind of competitive set right um but being able to combine the information that is out","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6729s"},{"start_seconds":6738,"text":"there about you that you're not even consciously aware of um and start to make algorithmic decisions about how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6738s"},{"start_seconds":6746,"text":"much you should pay for insurance or you know whether or not you know this comes into um money in in the through the lens","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6746s"},{"start_seconds":6753,"text":"of cbdcs right so if you have government issued digital currencies that have potential limits on how they can be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6753s"},{"start_seconds":6762,"text":"spent and the ability to have programmability within this money um and you show up to the grocery store and you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6762s"},{"start_seconds":6769,"text":"decide you know having a Super Bowl party and you're buying a couple cases of beer and computer says no because you've drank too much this month I mean","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6769s"},{"start_seconds":6778,"text":"that that is a potential I think the other thing that I would really encourage people to do and and I know that this is hard if this is not kind of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6778s"},{"start_seconds":6785,"text":"your area of expertise but this is why we have trade bodies um join a trade body because they'll be looking at other","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6785s"},{"start_seconds":6794,"text":"types of policymaking or legislation that might not be specifically crypto related so for example a bill just passed in the UK it was called The","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6794s"},{"start_seconds":6803,"text":"Online safety Bill and it had been around for years and years and years and it was one of these Christmas tree bills where people have all their asss that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6803s"},{"start_seconds":6810,"text":"they keep adding ornaments to the bill so it was taking a really long time to get ped and by the time it was ready to get past there was some extra additions","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6810s"},{"start_seconds":6819,"text":"right at the end around encryption and what they were trying to do was prevent child pornography being exchanged on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6819s"},{"start_seconds":6825,"text":"Telegram and WhatsApp um and through through coid um uh inquiries they also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6825s"},{"start_seconds":6834,"text":"realized that MPS were avoiding communicating on official channels because they were using WhatsApp and they're like What's this WhatsApp what what is all this information being","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6834s"},{"start_seconds":6842,"text":"shared on WhatsApp we should lock that down right there might have been ways to put measures in place to prevent child","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6842s"},{"start_seconds":6850,"text":"pornography that didn't necessarily attack encryption but because this Bill had been out there for so long and people had kind of lost the will they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6850s"},{"start_seconds":6858,"text":"just wanted to get it done um there are several areas um around the language around encryption that I think potentially could have some impact on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6858s"},{"start_seconds":6867,"text":"Smart contracts down the road right and so you know now the the whole process starts you know speaking to the law commission to get them to go back and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6867s"},{"start_seconds":6875,"text":"take a look at this right so I think we get very focused on crypto policy but I think that we need to be a little bit","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6875s"},{"start_seconds":6882,"text":"more broadminded and how disruptive Technologies are being potentially policed and how it could impact things","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6882s"},{"start_seconds":6892,"text":"like privacy decentralization and some of the other tenants that you know our industry is built upon that that's a great point I I looks like we're out of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6892s"},{"start_seconds":6900,"text":"time unfortunately I would say for everyone utilize AI to generate letters to your representatives send them in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6900s"},{"start_seconds":6908,"text":"people are forced to read them at least in the US you can make a difference and now you don't have to actually write the letter you can just use chat gbt to have it right for you so yeah that's a great","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6908s"},{"start_seconds":6916,"text":"point I think people don't realize that really quickly if the the offices your Congress people and your Senators they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6916s"},{"start_seconds":6924,"text":"keep track of the that people call on they have to so um make that an issue they care about yeah well thank you for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6924s"},{"start_seconds":6932,"text":"talking with us today guys thank you ladies for this uh wonderful panel um everybody have a great rest of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6932s"},{"start_seconds":6948,"text":"newon okay guys well done to all of you who","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6948s"},{"start_seconds":6956,"text":"have uh stuck through some really heavy legislation discussions from both Europe and North America the good news is now you can all go and uh relax for 30","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6956s"},{"start_seconds":6965,"text":"minutes we have a lunch break uh please remember you've got that neon left over in your wallet uh hopefully you've been earning some more today going to some of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6965s"},{"start_seconds":6972,"text":"the different experiences from our partners so now you have 30 minutes to go and spend it whether that's at the swag store or to go and get yourself a slice of pizza or something else so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6972s"},{"start_seconds":6980,"text":"we'll see you back here in 30 minutes thank","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=6980s"},{"start_seconds":7008,"text":"you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=7008s"},{"start_seconds":7038,"text":"e","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=7038s"},{"start_seconds":7158,"text":"w","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=7158s"},{"start_seconds":7517,"text":"for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=7517s"},{"start_seconds":8176,"text":"I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8176s"},{"start_seconds":8236,"text":"what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8236s"},{"start_seconds":8266,"text":"a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8266s"},{"start_seconds":8296,"text":"w","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8296s"},{"start_seconds":8326,"text":"oh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8326s"},{"start_seconds":8356,"text":"w","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8356s"},{"start_seconds":8386,"text":"he","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8386s"},{"start_seconds":8416,"text":"d","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8416s"},{"start_seconds":8566,"text":"right","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8566s"},{"start_seconds":8685,"text":"three","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8685s"},{"start_seconds":8715,"text":"m","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8715s"},{"start_seconds":8854,"text":"your foundations Martin","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8854s"},{"start_seconds":8862,"text":"best hey that wasn't an elaborate power play by me there just trying to go off stage and I say there was genuinely","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8862s"},{"start_seconds":8870,"text":"something wrong with the microphone we just had to fix so if you care about the near ecosystem I think we could probably agree that the people coming on to the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8870s"},{"start_seconds":8878,"text":"stage next have the most important job arguably in all of the ecosystem in many respects uh finding developers nurturing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8878s"},{"start_seconds":8887,"text":"them inspiring them getting them to build on Thea is a critically important job we're talking about targeting just tens of thousands of people around the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8887s"},{"start_seconds":8894,"text":"world so it's going to be a really good discussion what we always find with web 3 projects is they start with a theoretical idea of how they're going to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8894s"},{"start_seconds":8902,"text":"decentralize and then they're stuck with that very very difficult problem how do you bring it to reality how do you actually make that come to life in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8902s"},{"start_seconds":8909,"text":"practice so this is what we're going to hear from our guest today and it's going to be facilitated by the one and only","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8909s"},{"start_seconds":8917,"text":"Maria","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8917s"},{"start_seconds":8925,"text":"Yota yeah just go hi folks thank you for staying for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8925s"},{"start_seconds":8933,"text":"our little so I'm going to sit down I'll be working a lot today um so yeah we are here to present","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8933s"},{"start_seconds":8942,"text":"Dev Hub this is our team most of our team the the our our leader and founder Unfortunately they got sick so not to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8942s"},{"start_seconds":8951,"text":"spread the conference back he's staying home today and we have Joe to replace him so so uh I think we uh we have all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8951s"},{"start_seconds":8959,"text":"the names here so it's kind of self-explanatory my name is Maria Yota I'm leading heckadon at near I've been working at near for almost two years now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8959s"},{"start_seconds":8968,"text":"and the point that I like to brag about is that 8,000 people hacked on near with me last year so I think it's pretty","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8968s"},{"start_seconds":8975,"text":"impressive in terms of where the heck it on goes so we opened this this little startup almost year ago I think the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8975s"},{"start_seconds":8984,"text":"first time we presented it was uh at at the previous nearon so let me just open it up with some slides I didn't realize","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8984s"},{"start_seconds":8992,"text":"they're there so this is me yeah I like salted licorice they told me I need to talk um about you know some fun facts","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=8992s"},{"start_seconds":9000,"text":"about me and let me just uh present what devhub is about so yeah I I kind of see you here that's awesome so uh about last","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9000s"},{"start_seconds":9009,"text":"year uh with those 8,000 people I like to prag about they hacked and built and shipped 3,000 project and we are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9009s"},{"start_seconds":9018,"text":"incredibly proud of those who stick around to the ecosystem come back to the hackathons and actually keep building","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9018s"},{"start_seconds":9025,"text":"with us so thank you very much um most of those people are currently in the other venue hacker HQ if you didn't check it out most of you have checked it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9025s"},{"start_seconds":9034,"text":"out so if you didn't come visit us there uh we have a lot of tables to work and we have some snacks so just drop by um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9034s"},{"start_seconds":9043,"text":"so yeah let me just pass on to what Dev Hub does why did we found it we found it because we realized uh that our uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9043s"},{"start_seconds":9053,"text":"ecosystem of developers is overly incentivized so it's it's pretty obvious that people don't want to code for free","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9053s"},{"start_seconds":9060,"text":"they don't want to build for free uh can we just give them money can we just distribute tons of Grants um apparently","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9060s"},{"start_seconds":9069,"text":"we cannot so this is not the way to to go forward unfortunately we failed a couple of times and then we realized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9069s"},{"start_seconds":9076,"text":"that we actually can diversify the approach and create a couple of Pathways where people can apply for support through devhub and find their way","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9076s"},{"start_seconds":9084,"text":"through new ecosystem so devhub is actually focused on developers which is obvious from the name uh but it's not just that we we do events we do meetups","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9084s"},{"start_seconds":9093,"text":"we do educational initiatives so um Michael is here my my beautiful team is going to talk about that in a moment so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9093s"},{"start_seconds":9101,"text":"um I should go back can I go back yeah so uh when we are thinking about building out the new ecosystem of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9101s"},{"start_seconds":9110,"text":"developers uh we are keeping you know this one just just one person the abstract developer in mind which is probably not the right way to to move","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9110s"},{"start_seconds":9118,"text":"forward we have several types of developers and blood here actually worked on the personas nma here is an expert in developer marketing so we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9118s"},{"start_seconds":9126,"text":"realize that all all of the Builder personas we have three main ones which is app developers platform en enablers","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9126s"},{"start_seconds":9133,"text":"and platform developers so uh but this this is not where it ends this is just the three main ones and we have more we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9133s"},{"start_seconds":9142,"text":"have heon hosts we have validators we have a Auditors and we we have deep Tech enthusiasts who shape ZK stuff we have a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9142s"},{"start_seconds":9150,"text":"working group for that so devhub decided to be a place where all of The Talented amazing and smart people land so let's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9150s"},{"start_seconds":9158,"text":"see what we can offer them uh we we support them through having a board where people can publish a proposal and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9158s"},{"start_seconds":9166,"text":"get support and this is not centralized through me so there is not one Maria who approves the proposals this is a board","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9166s"},{"start_seconds":9173,"text":"of moderators who write attestations who approve or disapprove sometimes the initiatives that uh emerge in our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9173s"},{"start_seconds":9181,"text":"community so what we do through the board we we support meetups and heatons and we un boarded a couple local hubs","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9181s"},{"start_seconds":9189,"text":"specifically near China is working through dhub now or they have a really cool new logo with us so we are sponsoring","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9189s"},{"start_seconds":9196,"text":"meetups throughout the globe uh we support local contributors uh we provide mentorship guidelines to make sure that everything","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9196s"},{"start_seconds":9204,"text":"is streamlined standardized and throughout the globe near standards are are held on the same level so we share","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9204s"},{"start_seconds":9212,"text":"the knowledge and we make sure that it's easy for people to on board and become aan in a sense that we all would","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9212s"},{"start_seconds":9220,"text":"understand and support uh we also support neuro integration uh development of docks and libraries we will talk about about that later uh we do office","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9220s"},{"start_seconds":9228,"text":"hours in different languages and different time zones so to to support this idea of a truly Global Community um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9228s"},{"start_seconds":9235,"text":"and generally I would say Dev is connecting people because all of them can can meet each other through the board so let me just walk you through","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9235s"},{"start_seconds":9242,"text":"the year at a glance uh what we have done so far so first heatons and meetups we supported 12 events throughout the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9242s"},{"start_seconds":9250,"text":"globe including e Global events e hackaton student hackaton all kinds of hackaton and we productized our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9250s"},{"start_seconds":9258,"text":"knowledge about hackaton and released a product called hackbox a plug Inplay solution where people can host a heckadon um pretty much anywhere on a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9258s"},{"start_seconds":9267,"text":"very low budget so we already have four events in the pipeline 15 more coming in the q1 and next year um another program","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9267s"},{"start_seconds":9276,"text":"program worth mentioning is near campus we have five 15 plus University clubs and we're boarding even more to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9276s"},{"start_seconds":9284,"text":"including some big names that you can see on the screen I'm not going to name drop so uh Boris who is not on this but this panel is managing near campus on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9284s"},{"start_seconds":9293,"text":"boarding students and and clubs throughout the globe so if you want to talk about near campus come to us to hacker HQ and fight Boris he would be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9293s"},{"start_seconds":9301,"text":"happy to tell you more uh we have decentralized developer relations team so instead of just one team on a payroll","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9301s"},{"start_seconds":9309,"text":"we we have contributors throughout the globe uh we on board them they have mentorship guidelines they have all of the St to become near mentors so if they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9309s"},{"start_seconds":9318,"text":"are a developer and if they are likable they actually can talk to people it's it's a very small intersection on that V","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9318s"},{"start_seconds":9325,"text":"diagram but it exists actually so we find these people we Scout them we teach them and we include them in our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9325s"},{"start_seconds":9333,"text":"decentralized deal community so here's our link tree po by our booth so visit","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9333s"},{"start_seconds":9340,"text":"us at a HQ and I'm going to introduce my team now so starting with Vlad um Vlad is one of the first contributors in new","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9340s"},{"start_seconds":9348,"text":"ecosystem so Vlad how do we build the communities without incentives yeah sure well you run","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9348s"},{"start_seconds":9356,"text":"through the whole history of devhub but I want to start with the history of near ecosystem since I joined near four years","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9356s"},{"start_seconds":9362,"text":"ago and be been seeing and building this ecosystem together with all of us here and I've talked to many uh folks during","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9362s"},{"start_seconds":9370,"text":"the conference uh I've been to all three near cons and I'm excited to see it growing uh so well we near ecosystem started as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9370s"},{"start_seconds":9379,"text":"a um open Community from day one and it's great but we had um the the initial","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9379s"},{"start_seconds":9387,"text":"focus and the uh approach to uh deliver near was that okay let's let's build cool stuff and people will come and and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9387s"},{"start_seconds":9396,"text":"see and use uh the tech but it's it's not always the cas you need this Secret Sauce to to be there and that is um a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9396s"},{"start_seconds":9404,"text":"bit more purposeful uh directed uh approach of uh telling people how to use it um where to find the relevant","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9404s"},{"start_seconds":9413,"text":"resources and all that stuff so this this idea of devhub was baking uh in in my head and in head of uh this whole uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9413s"},{"start_seconds":9421,"text":"awesome team for quite a while and we definitely um um had some insights","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9421s"},{"start_seconds":9428,"text":"collected over the years and um the one of the inside is that open source that's where we Drew are a lot of like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9428s"},{"start_seconds":9437,"text":"inspiration from o operates with no funding incentives and the the main incentive for people to contribute to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9437s"},{"start_seconds":9445,"text":"open source is they they they want to be part of something bigger they want to be um uh delivering the uh tools that are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9445s"},{"start_seconds":9454,"text":"useful for somebody else so it is a kind of diff like um it's an interesting","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9454s"},{"start_seconds":9461,"text":"need humans some of the humans have uh in in just day-to-day life and that is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9461s"},{"start_seconds":9469,"text":"uh what we employ here and what we want to focus uh in in Dev Hub and that's what we uh build uh through the tooling","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9469s"},{"start_seconds":9477,"text":"that we provide so uh we have as Maria mentioned many uh Frameworks that we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9477s"},{"start_seconds":9484,"text":"replicate across the globe uh with that that would help others to just run the same approach uh no matter where in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9484s"},{"start_seconds":9493,"text":"world they are um mabox is a great example of that template that you can just get up and running fellowship","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9493s"},{"start_seconds":9502,"text":"program is a way how we uh bring people up to speed and uh uh make sure that we find the right talent and right","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9502s"},{"start_seconds":9511,"text":"motivation and Empower them and on board so currently the fellowship program that I will be talking uh more in detail","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9511s"},{"start_seconds":9518,"text":"later today at later to Stage is uh more about like those incentives uh that uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9518s"},{"start_seconds":9527,"text":"um yeah we we just help people to uh to find their way so this is important uh I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9527s"},{"start_seconds":9534,"text":"feel like role for devhub is to uh bring this uh Community uh on the same page","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9534s"},{"start_seconds":9541,"text":"and uh we are not trying to be the near we want to be uh The Hub of near uh for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9541s"},{"start_seconds":9548,"text":"developers and we want to actually bring um our like users who will arrive to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9548s"},{"start_seconds":9555,"text":"devhub uh to explore the whole system from the lens of Dev Hub so with all those like uh small details that's how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9555s"},{"start_seconds":9563,"text":"we build the the ecosystem that's what we focus on um and those are like very tiny details that we pay attention a lot","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9563s"},{"start_seconds":9571,"text":"and I hope Joe will also share with like how exactly we uh uh see it in the future but overall the holic system is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9571s"},{"start_seconds":9580,"text":"growing and it's awesome to see thank you V so when it comes to being on the same same page we kind of need the page and we kind of need the people to be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9580s"},{"start_seconds":9589,"text":"able to use it as opposed to be designed just for the developers and being in all T and in consistent so AI is actually","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9589s"},{"start_seconds":9596,"text":"the person behind our beautiful platform which was updated uh last Friday as usual so Orie would you like to talk","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9596s"},{"start_seconds":9604,"text":"about um our processes and about our platform in general sure absolutely so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9604s"},{"start_seconds":9610,"text":"yeah the devhub uh portal is the main place for Developers to find everything that they need to be able to contribute","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9610s"},{"start_seconds":9618,"text":"to the near ecosystem you can submit ideas there and proposals find resources and and get sponsorship and also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9618s"},{"start_seconds":9627,"text":"discover communities working on a variety of areas from protocol development to zero knowledge and it is an open source project so anyone is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9627s"},{"start_seconds":9636,"text":"welcome to contribute and I guess I can also share a little bit of the journey that we've had in building it over the last year uh initially our Focus was","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9636s"},{"start_seconds":9644,"text":"around technical government governance and bootstrapping working groups and processes to enable uh you know decentralized decision making like on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9644s"},{"start_seconds":9653,"text":"contract standards and protocol Improvement and to help create visibility we launched the first vzero","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9653s"},{"start_seconds":9660,"text":"of devhub uh in Q4 of last year and it was a landing page that introduced the project uh and how to get involved then","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9660s"},{"start_seconds":9668,"text":"later in q1 of this year we launched the the next version which was the gigs board which brought collaboration and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9668s"},{"start_seconds":9675,"text":"coordination into one place and enabled uh anyone to to participate from there","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9675s"},{"start_seconds":9682,"text":"we scaled uh and added a new feature which was communities which enabled groups to self-organize and and focus on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9682s"},{"start_seconds":9690,"text":"just more areas and as Maria just mentioned we our most recent version we applied the new devhub brand we added","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9690s"},{"start_seconds":9697,"text":"some ux improvements based on feedback as well as other enhancements and as we move forward into the next iteration we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9697s"},{"start_seconds":9704,"text":"really want want devhub to not only be a tool just for for our team but for any partners and players in the ecosystem uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9704s"},{"start_seconds":9712,"text":"we want to help them scale So yeah thank you Ori so um when it comes to standardizing the processes we need to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9712s"},{"start_seconds":9721,"text":"make sure that everyone is on the same page regarding our standards and how we actually want the ecosystem to grow how we want it to look like this doesn't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9721s"},{"start_seconds":9729,"text":"mean that the system becomes centralized but it uh means that the system actually becomes consistent so everywhere you go to a near heckadon or Everywhere You","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9729s"},{"start_seconds":9738,"text":"Meet A near campus uh student we we need to make sure that they follow the same","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9738s"},{"start_seconds":9745,"text":"so to say guidelines so I would like nma to talk a little bit more about that because she's an expert on productizing know wish we have a Dev","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9745s"},{"start_seconds":9753,"text":"Hub um yeah hi everyone my name is nma um I'm the product manager at hackbox um and just like Maria said I think the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9753s"},{"start_seconds":9762,"text":"beauty in decentralization is being able to empower on an individual level while also scaling at a community level and so I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9762s"},{"start_seconds":9770,"text":"think hackbox really um exemplifies this by providing an endtoend solution that assures consistent quality and growth","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9770s"},{"start_seconds":9780,"text":"across the board um as you can see even here near is a very Global Community like Maria said earlier as well we had","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9780s"},{"start_seconds":9787,"text":"over 8,000 hackers hack with us last year and so we were really thinking how do we streamline the processes that these teams organize around","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9787s"},{"start_seconds":9795,"text":"how do we make hackathons accessible to everyone and that's where the light bulb came up and hackbox was born um so what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9795s"},{"start_seconds":9804,"text":"is hackbox um not only do we provide funding support to anyone it's beginner oriented so anyone that wants to host a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9804s"},{"start_seconds":9811,"text":"hackathon we're also productizing the team's Knowledge from hosting hackathons over the years um giving you guidelines","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9811s"},{"start_seconds":9819,"text":"from how to set up your registration form all you need to know about near developers our audience segment ments how to talk to sponsors if you need","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9819s"},{"start_seconds":9827,"text":"additional support for your um event we have our amazing designer here Sasha who created templatized designs that anyone","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9827s"},{"start_seconds":9835,"text":"can fork and edit to meet their own needs so really it's an endtoend plug-in-play solution for anyone to be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9835s"},{"start_seconds":9842,"text":"able to host hackathons near hackathons to empower their communities um and there's there's a lot of value in being able to empower the individuals in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9842s"},{"start_seconds":9851,"text":"ecosystem that have the context to take that knowledge and Inspire Innovation within their communities um and I also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9851s"},{"start_seconds":9859,"text":"want to say a little bit about like why we support hackathons in the first place it's not just about um challenges it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9859s"},{"start_seconds":9866,"text":"not just about winning bounties it's something of like a a microcosm of of what is possible when diverse","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9866s"},{"start_seconds":9874,"text":"perspectives people from different backgrounds are able to unite across a common Vision a challenge they're working in a Time bound environment and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9874s"},{"start_seconds":9883,"text":"they're able to put together something that that's really cool and value additive to the ecosystem and so that's why we support um hackathon so much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9883s"},{"start_seconds":9891,"text":"that's why we have this initiative to make hackathons more accessible to the community um and I'm really excited to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9891s"},{"start_seconds":9898,"text":"see the new verticals that we unlock the new communities that we're able to bring in right now um we are in the process of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9898s"},{"start_seconds":9906,"text":"um completing our beta cohort for hackbox um we had teams two teams in the US One in Mexico and um one in Niger","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9906s"},{"start_seconds":9915,"text":"neria as well um one of our hackbox hosts is right there Joanna from near NYC um and they had actually NOS present","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9915s"},{"start_seconds":9923,"text":"at their hackathon who were able to contextualize their problems their problem statements and developers were also present within that Arena um to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9923s"},{"start_seconds":9932,"text":"help solve those challenges we have teams working on making the web 2 to3 transition more accessible um and really","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9932s"},{"start_seconds":9940,"text":"just providing value across different segments and I think that's really powerful and really I think realizes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9940s"},{"start_seconds":9949,"text":"nearest core EOS which is one of an open and accessible web thank you Noma so heatons is just one step weab in near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9949s"},{"start_seconds":9957,"text":"developer and we actually want them to stick around so we have bounty hunters we have all kind of people who just ship the same project at all hackaton trying","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9957s"},{"start_seconds":9965,"text":"to find a problem for their solution which is really back first in my opinion but our end goal as Dev Hub is to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9965s"},{"start_seconds":9973,"text":"actually find and ret uh a lot of talented people with bright ideas who eventually become either devhub contributors entrepreneurs or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9973s"},{"start_seconds":9983,"text":"maybe near Foundation employees I know at least a couple of people who who became employees through one of the heatons so Joe um would you like to talk","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9983s"},{"start_seconds":9992,"text":"about our gameification and retention strategy yeah absolutely so as you were saying one of the challenges that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9992s"},{"start_seconds":9999,"text":"happens with any type of ecosystem is as people come in as hackers or as project owners is that it's not enough to just","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=9999s"},{"start_seconds":10007,"text":"give them great tooling like Vlad mentioned it's also about making sure that they feel invested we want them to feel like they're actually part of the community so that comes from a couple","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10007s"},{"start_seconds":10016,"text":"different things and the obvious one always is like grants but we like we said we don't want to just be giving out grants all the time that's not sustainable that's not a methodology","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10016s"},{"start_seconds":10024,"text":"that really builds community so we want to look at retention strategies that actually are meaningful to both the developers themselves as well as to us","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10024s"},{"start_seconds":10033,"text":"as a community so things that we're starting to roll out this year and leading into next year are things around gamification so even if you're not","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10033s"},{"start_seconds":10041,"text":"actually ready to build an actual project you just are interested in near you like hacking you like building stuff we're going to give you opportunities to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10041s"},{"start_seconds":10048,"text":"actually uh compete in challenges and essentially build up a reputation within the ecosystem so because what's going to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10048s"},{"start_seconds":10057,"text":"happen you'll see from the hackathon here is that some people will make projects but some people just not know what to do next and we don't want to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10057s"},{"start_seconds":10064,"text":"necessar force them into having to be an entrepreneur because not everybody is that but if you are an entrepreneur we want to give you that path so the the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10064s"},{"start_seconds":10071,"text":"retention strategy really again around gamification and giving them those opportunities to be part of something is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10071s"},{"start_seconds":10078,"text":"huge secondarily we think that by giving them the tools to actually come in and out of the ecosystem at different points","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10078s"},{"start_seconds":10087,"text":"whether you are ready to again build something larger or not uh as devhub we are the Hub right so we are not the ones","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10087s"},{"start_seconds":10094,"text":"who are going to make sure that you know you are building this great project and raising millions of dollars but we will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10094s"},{"start_seconds":10101,"text":"help you get from the hackathon to where you need to go within the ecosystem to actually achieve those goals and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10101s"},{"start_seconds":10108,"text":"more that we can do that by interacting and engaging with you through again uh challenges hackathons and different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10108s"},{"start_seconds":10116,"text":"types of uh whether maybe something like pairing people up and having to work together there's a lot of different ways that we can go about this it starts to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10116s"},{"start_seconds":10124,"text":"build build that cohesion that we're looking for so that we can kind of expand from there thank you Joe so we have a couple","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10124s"},{"start_seconds":10131,"text":"of huers in the audience uh I think this year's heon is really special because we managed throughout the year we managed to build the bridges in the ecosystem","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10131s"},{"start_seconds":10140,"text":"and actually have challenges from Amer system Partners including sweat economy there thank you so much for such an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10140s"},{"start_seconds":10147,"text":"exciting challenge to be on board the next billion people on di so I think through hackathons we actually can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10147s"},{"start_seconds":10154,"text":"connect all of the entities and the ecosystem and come up with something beautiful so we have 700 registered people I think two or 300 are actually","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10154s"},{"start_seconds":10162,"text":"hacking in hacker HQ right now and the submission in line is in mere three and a half hours and thank you so much for taking your time to come here to listen","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10162s"},{"start_seconds":10170,"text":"to us so if we had one advice or suggestion or just a comment for a person who's trying to on board near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10170s"},{"start_seconds":10178,"text":"ecosystem as a developer what would that be Ori let's start with you well I think you need to have genuine excitement about what you're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10178s"},{"start_seconds":10186,"text":"doing and that will show organically as you interact and uh I think also being","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10186s"},{"start_seconds":10194,"text":"uh very curious about uh finding all the communities that exist and if they don't creating your own uh and just finding","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10194s"},{"start_seconds":10203,"text":"other people that are that share your passion and working together I think that's how we've seen the best success is when really are able to align with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10203s"},{"start_seconds":10210,"text":"other folks and you know bring your ideas to life so that's what I would say yeah well very well put but I I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10210s"},{"start_seconds":10219,"text":"personally believe that every single person on the earth has their own superpowers and that's why I uh view","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10219s"},{"start_seconds":10226,"text":"newa system as well like we need to play to our best strengths and definitely devhub being the home base for all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10226s"},{"start_seconds":10234,"text":"developers or like I would even say like not de just developers but actually like any technical uh audience be validators","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10234s"},{"start_seconds":10244,"text":"or just even like Tech newsletter writers uh they they just can you know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10244s"},{"start_seconds":10250,"text":"bring a lot more to the system uh with their like just very small Focus but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10250s"},{"start_seconds":10257,"text":"they do it perfectly well and then it makes 100x impact on the Hol system so I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10257s"},{"start_seconds":10265,"text":"we are trying like I'm personally trying to uh bring that to Dev Hub core and like core values how to empower identify","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10265s"},{"start_seconds":10274,"text":"find power people uh doing what they do the best so just keep keep building keep","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10274s"},{"start_seconds":10281,"text":"uh keep polishing your like superpowers and show us and like show show show us meaning us the near EOS","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10281s"},{"start_seconds":10290,"text":"system um and hopefully that like my my dream is that uh at certain point we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10290s"},{"start_seconds":10296,"text":"would say like go on near you know like like we do today as like Go internet there is no internet.org so hopefully we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10296s"},{"start_seconds":10305,"text":"will not see near torque uh quite soon with the growth of the ecosystem so big that it would just would make any no","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10305s"},{"start_seconds":10313,"text":"sense at all uh no yeah I would like to say one key thing is to take ownership","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10313s"},{"start_seconds":10320,"text":"of your journey um because this space is really what you make it there is a wealth of resources available to help I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10320s"},{"start_seconds":10327,"text":"think we've gone through a lot of the initiatives um that we have undertaken at devhub to empower the community but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10327s"},{"start_seconds":10334,"text":"that's again just one piece um we have so many different resources from the foundation to near Horizon to the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10334s"},{"start_seconds":10342,"text":"different self-organizing communities um that it's really about coming in with intention and then taking ownership of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10342s"},{"start_seconds":10349,"text":"your journey and what you you you turn it into so yeah that's my message for you take ownership of your","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10349s"},{"start_seconds":10356,"text":"journey so many good answers already um I think for myself when I speak to developers or just technical people in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10356s"},{"start_seconds":10364,"text":"general uh I like to think of it a little bit different where uh in normal like I guess non crypto type Tech you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10364s"},{"start_seconds":10372,"text":"know it's usually like one particular piece of technology that you're invested in and that you're building a community around the beauty of near is that it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10372s"},{"start_seconds":10380,"text":"starts with this concept of open web and then it trickles down into all these different things whether it is something more hardware and networking based like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10380s"},{"start_seconds":10387,"text":"validators to front-end development to Smart contracts and all the way through and so whatever you want to geek out about you can do that here and you can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10387s"},{"start_seconds":10396,"text":"be part of a community and it's a really interesting process so again if you're into ZK if you are into security","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10396s"},{"start_seconds":10404,"text":"whatever that might be there's a place for you here and we hope that devhub that we can help guide you through that thank you Joe so I have one more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10404s"},{"start_seconds":10411,"text":"question for you and it's a tricky one it's actually my favorite one the one that I was asked when I first entered web3 space um I guess it's always","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10411s"},{"start_seconds":10420,"text":"challenging to see uh if if you are reaching success or not if you don't know how the success looks like so for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10420s"},{"start_seconds":10427,"text":"Dev Hub how do we know that we actually you know we actually did it we actually made it how how would it look like maybe","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10427s"},{"start_seconds":10434,"text":"in in reality a couple of years from now maybe you know what's what's the desired outcome starting with probably","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10434s"},{"start_seconds":10441,"text":"ory well I guess let me just recap uh what what happened so far you know I think when we look at the last year","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10441s"},{"start_seconds":10448,"text":"since launching the the devhub portal uh we've seen tremendous growth in engagement you know from the developers","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10448s"},{"start_seconds":10455,"text":"we've had over 400 uh unique authors uh submit long like 2,000 long form posts","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10455s"},{"start_seconds":10462,"text":"ranging from uh you know really amazing ideas to uh full Solutions we've had over 25 communities for and 30 Community","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10462s"},{"start_seconds":10471,"text":"calls uh We've sponsored over 200 uh projects and individuals and so I guess when we look forward I would like to see","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10471s"},{"start_seconds":10478,"text":"that momentum continue to build and be able to tell next year that you know that that number is times five you know or more more so we just want to continue","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10478s"},{"start_seconds":10486,"text":"to uh solve amazing problems together and and make a positive impact on on the ecosystem and on the open web uh in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10486s"},{"start_seconds":10494,"text":"general so yeah Vlad well um first of all I I'm I'm viewing near ecosystem as a whole I'm","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10494s"},{"start_seconds":10502,"text":"not uh separating like devhub Community versus near community so I wanted to succeed near Community to succeed as a whole and even like bigger than that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10502s"},{"start_seconds":10511,"text":"like uh the technology to succeed uh even though like it's it seems like it's it's doing great but uh ultimately it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10511s"},{"start_seconds":10520,"text":"all combination of small pieces that we innovate and move forward so in in terms of Dev Hub if we narrow it down and like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10520s"},{"start_seconds":10528,"text":"say well what what is the contribution from Dev Hub specifically I you and I think we already achieved quite a lot as we're already like presented with like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10528s"},{"start_seconds":10536,"text":"hard stats uh and we are getting uh like we Dev Hub is already start started to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10536s"},{"start_seconds":10543,"text":"be used as the The Benchmark to many of the initiatives in near ecosystem which is already a good indicator to me that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10543s"},{"start_seconds":10550,"text":"we are doing great uh to in know for for ourselves to to to see that the progress is there um we definitely want to just","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10550s"},{"start_seconds":10559,"text":"yeah keep doing what we're already doing and never like reduce the quality level of quality that we want to deliver and what we are delivering today uh there is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10559s"},{"start_seconds":10567,"text":"always room for improvement that's what we are here for uh we yeah we we did The","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10567s"},{"start_seconds":10574,"text":"Branding it was long overdue uh we did uh we we improve on ux on the platform itself we definitely want to improve and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10574s"},{"start_seconds":10583,"text":"bring um Dev Hub to be like just a natural way to you know it's like speaking so it's it would be natural for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10583s"},{"start_seconds":10590,"text":"people to just oh I I I I just go to Dev Hub and and I'll I'll sort my problem there easily so that that would be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10590s"},{"start_seconds":10597,"text":"awesome to see so yeah absolutely um and I think one more thing that I count as a marker of a healthy and Vibrant","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10597s"},{"start_seconds":10606,"text":"Community is organic content so how many people in their day-to-day lives are finding this technology useful and what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10606s"},{"start_seconds":10614,"text":"are they saying about it how much are they proliferating this information I think that will contribute a lot to how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10614s"},{"start_seconds":10622,"text":"ubiquitous um nears technology is um in the ways that people find it impactful in their personal lives and are able to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10622s"},{"start_seconds":10630,"text":"share that message and actually just like self-organize advocates for the technology for the community so if","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10630s"},{"start_seconds":10638,"text":"someone has attended a hackbox hackathon and that was really impactful to them and they choose to make some content or write about what they learned or you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10638s"},{"start_seconds":10646,"text":"know go off on a evangelism Mission and start preaching the Good gospel of near that is I think a healthy marker of a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10646s"},{"start_seconds":10655,"text":"community that's really vibrant and active and successful and I think that's something that I would love to see more of and I'm sure that we are well on our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10655s"},{"start_seconds":10663,"text":"way as as a team just one small piece of the ecosystem in in supporting that Vision I I I love that answer because I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10663s"},{"start_seconds":10673,"text":"think the for me numbers as side I think the numbers right are obvious that you always want to see more active developers each month and all the way","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10673s"},{"start_seconds":10680,"text":"through but the real you know I think proof of your ecosystem growing and getting stronger is people self-organizing writing on their own uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10680s"},{"start_seconds":10688,"text":"doing those things so no longer that instead of us driving different working groups you guys are driving the work groups that to me is a strong ecosystem","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10688s"},{"start_seconds":10697,"text":"uh I really would also I think as we start to grow as a hub and as a larger Community across near to be able to better provide these Pathways that we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10697s"},{"start_seconds":10705,"text":"mentioned earlier can we get you from you know the idea of going to a hackathon to possibly being a Founder if","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10705s"},{"start_seconds":10713,"text":"we can solve that for you if we can get you to self-organize then I think we're doing the right thing thank you so much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10713s"},{"start_seconds":10720,"text":"so in my opinion success looks like decentralized diverse ecosystem of people who actually feel like stakeholders who feel like their opinion","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10720s"},{"start_seconds":10729,"text":"matters their Vision matters and we would be here to help them to to take it off actually whether they want to host a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10729s"},{"start_seconds":10736,"text":"heon or they want to do something for their student club or they want to build a startup we're here for them so if you want to meet us if you want to talk more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10736s"},{"start_seconds":10745,"text":"about Dev Hub initiatives uh come to the hacker HQ we will be there I think until the end of the day because we're doing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10745s"},{"start_seconds":10752,"text":"the he done um so yeah the link tree is here to help to find our social networks our websites and our main resources that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10752s"},{"start_seconds":10761,"text":"you might use as a Dev Hub contributor and thank you so much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10761s"},{"start_seconds":10782,"text":"you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10782s"},{"start_seconds":10842,"text":"a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10842s"},{"start_seconds":10850,"text":"okay ladies and gentlemen I hope you enjoyed listening to our colleagues and friends from devhub like I mentioned before they started I think what they're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10850s"},{"start_seconds":10858,"text":"doing for the ecosystem is so so so important and uh you can just hear as they talk how much passion they have for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10858s"},{"start_seconds":10865,"text":"what they do so please make sure if you see them walking around or if you go up to the hacker Hub you uh go and check them out and and chat to them there's just so much knowledge about Community","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10865s"},{"start_seconds":10874,"text":"inside their heads so you can see we now have on stage a Podium you might think we're going to entertain a king or a president or or some sort of great","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10874s"},{"start_seconds":10882,"text":"leader uh currently not a leader of any Democratic nation that I know of but still somebody who's incredibly bright has a huge amount of knowledge and we're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10882s"},{"start_seconds":10890,"text":"going to continue the decentralized theme now and we're going to be talking about Nia and some of the principles that cross chain Builders have to remember so I'm really proud to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10890s"},{"start_seconds":10899,"text":"introduce Mr John","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10899s"},{"start_seconds":10902,"text":"ywood","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10902s"},{"start_seconds":10910,"text":"board new con good afternoon um as Martin mentioned my name is John yarwood I'm with the UDC and the Executive Vice","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10910s"},{"start_seconds":10917,"text":"President of legal and advocacy um who is the udhd you might ask we are uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10917s"},{"start_seconds":10925,"text":"oh all right we're are a group of former maker Foundation um Executives and advisers who now use the knowledge we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10925s"},{"start_seconds":10934,"text":"gained and experience we gained uh bootstrapping the maker di protocol and dissolving and decentralizing um the protocol after","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10934s"},{"start_seconds":10943,"text":"dissolving the foundation to fund and strategically support new projects who","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10943s"},{"start_seconds":10949,"text":"are building things to combine Defi and traditional Finance into what we believe","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10949s"},{"start_seconds":10956,"text":"will usher in new Finance so before we talk about decentralization we kind of have to come","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10956s"},{"start_seconds":10963,"text":"to a common understanding of what that means right there are a lot of things you can say decentralization and there's a huge umbrella that many projects fall","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10963s"},{"start_seconds":10972,"text":"under that word so what we say is the system is decentralized if it is fault and attack resistant with a remote likelihood of collusion or creating a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10972s"},{"start_seconds":10981,"text":"common point of control and with a sufficient number of diverse and independent contributors political actors and social influencers or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10981s"},{"start_seconds":10990,"text":"community members operating the system's logic and when we analyze a project or platform or an app when we think about a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10990s"},{"start_seconds":10997,"text":"decentralization we tend to look at this Arc of decentralization for its development starts here with Founders or a founding team they're in control","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=10997s"},{"start_seconds":11006,"text":"they're maintaining that control as they build and need to bootstrap they seek funding whether that's publicly or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11006s"},{"start_seconds":11013,"text":"privately and they seed a little of that control over to those funders and then as they build their projects and their communities they build in such a way","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11013s"},{"start_seconds":11021,"text":"where they can hand over the work force and the control of that project to the community itself Landing in the spot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11021s"},{"start_seconds":11029,"text":"optimal decentralization as we stand here today there's a couple questions I think I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11029s"},{"start_seconds":11037,"text":"want to go through and answer with you first is near a decentralized protocol right now second how will the near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11037s"},{"start_seconds":11045,"text":"ecosystem maintain a decentralized ethos as boss is increasingly used to expand the near ecosystem and then as we answer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11045s"},{"start_seconds":11054,"text":"those questions we also need to think about at the same time when not if near reaches an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11054s"},{"start_seconds":11061,"text":"inflection point what may follow what exogenous pressures may come to the ecosystem as near Scales and reaches","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11061s"},{"start_seconds":11069,"text":"that inflection point so today we're pretty close to busting out towards that inflection","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11069s"},{"start_seconds":11076,"text":"point as we speak over the last few months um 8 to 10 months months","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11076s"},{"start_seconds":11084,"text":"certainly after the FTX collapse the daily user accounts the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11084s"},{"start_seconds":11091,"text":"um excuse me one second daily active addresses new addresses and smart contracts have grown","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11091s"},{"start_seconds":11099,"text":"at a steady pace so has the growth in transaction volume and the number of validators have increased on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11099s"},{"start_seconds":11105,"text":"near and over the last quarter specifically these have jumped Leaps and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11105s"},{"start_seconds":11112,"text":"Bounds right shout out to Kai now for helping with that but as that happens","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11112s"},{"start_seconds":11119,"text":"you're going to see there are increased security attacks increased pressure on the system and then also more legal and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11119s"},{"start_seconds":11128,"text":"Regulatory scrutiny of the ecosystem as it grows and considering how much near social growth and widget development has","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11128s"},{"start_seconds":11136,"text":"happened since boss was introduced in March that will happen soon so so when we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11136s"},{"start_seconds":11144,"text":"analyze something at the UDC we like to think of it as the four attributes framework we look at the structure","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11144s"},{"start_seconds":11152,"text":"number of tokens computers addresses clients control the number of people that actually control that structure the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11152s"},{"start_seconds":11159,"text":"influence the number of people whether directly or indirectly influencing that control and then the number of processes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11159s"},{"start_seconds":11167,"text":"and functions the protocol has and the overarching objective of this decentralization we believe is uner","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11167s"},{"start_seconds":11173,"text":"auton user autonomy or self sovereignty so we look at the near Tech stack right now right let's go to the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11173s"},{"start_seconds":11181,"text":"front end layer the front end layer we rate the structure out of four and a four out of five there's multiple independent front ends that access the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11181s"},{"start_seconds":11189,"text":"protocol I've heard thousands thrown around this week right control access by open source and proprietary front ends","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11189s"},{"start_seconds":11197,"text":"influence community and user base uh influences the direction of development and accessibility and then process uh the process exposes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11197s"},{"start_seconds":11207,"text":"protocol functionality with added features smart contract layer five out of five on structure","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11207s"},{"start_seconds":11215,"text":"great job smart contract layer is open and versatile enough to create any protocol or dap control it's an open and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11215s"},{"start_seconds":11223,"text":"upgradeable smart contracts four out of five influence smart contract layer is primarily influenced by near Foundation","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11223s"},{"start_seconds":11230,"text":"alongside the community it is not in infuenced by public policy or regulation necessarily at the moment process the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11230s"},{"start_seconds":11239,"text":"smart contract layer is available for protocol andap development to all continue the data","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11239s"},{"start_seconds":11246,"text":"layer structure this is where we start to run into a little less decentralization right the data layer some data is stored offchain with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11246s"},{"start_seconds":11254,"text":"compressed data secured onchain control it's a three out of five most State data is readily accessible with onchain data","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11254s"},{"start_seconds":11262,"text":"being immutable influence the data later design balances security with performance at the moment and accessible it's accessible under suo","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11262s"},{"start_seconds":11271,"text":"anonymity for autonomous use and process all data layer processing on chain and secure it on chain when we get to the settlement","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11271s"},{"start_seconds":11280,"text":"layer you're going to see a drop off and that's understood at this point in time where the near near protocol is if you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11280s"},{"start_seconds":11287,"text":"remember that Arc of decentralization I mentioned so for structure it's significant geographical distribution","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11287s"},{"start_seconds":11295,"text":"and there's an implied Independence among validators however when you get to control right now there's a low number","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11295s"},{"start_seconds":11302,"text":"of validators a higher control with a single sequencer and near concentration influence node profit right now is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11302s"},{"start_seconds":11310,"text":"balanced with security as the protocol is still developing an ARCA decentralization it's not a completely open incentivization system yet for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11310s"},{"start_seconds":11318,"text":"nodes and validators process getting a little better better it's versatile but it's still decentralizing so not yet","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11318s"},{"start_seconds":11326,"text":"ready for full ecosystem now then we like to look at the softer points right and this is more","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11326s"},{"start_seconds":11335,"text":"human or entity control uh and um participation on the the protocol so when we're looking at user autonomy or","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11335s"},{"start_seconds":11344,"text":"self- sovereignty first of all we believe that a neutral infrastructure is at the heart of that we look at a political aspect is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11344s"},{"start_seconds":11352,"text":"the community has the decision-making power and influence to create policy administrative this community is responsible for planning financing and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11352s"},{"start_seconds":11360,"text":"management and economic is a community responsible for generating revenue and controlling","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11360s"},{"start_seconds":11368,"text":"expenditures right now politically the decision and policym is publicly accessible you all know what's happening","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11368s"},{"start_seconds":11376,"text":"however it's particularly focused by the near Foundation but new governance is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11376s"},{"start_seconds":11383,"text":"coming on live like the NDC right had their first vote just this past quarter it's a milestone that can't be ignored","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11383s"},{"start_seconds":11392,"text":"administratively near is developing a diverse Community contributing towards establishing new operational functionality you have devhub you have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11392s"},{"start_seconds":11401,"text":"the near development Suite of tools the big query public data set and you have the success of kakai now as an example","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11401s"},{"start_seconds":11409,"text":"of this administrative decentralization right economic the community has some influence or say over revenue or expenditure we now have the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11409s"},{"start_seconds":11418,"text":"marketing Dow the development Hub we just heard from and creatives da who all have budgets and a grant system to help","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11418s"},{"start_seconds":11426,"text":"decentralize economically the protocol but then lastly the UDC likes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11426s"},{"start_seconds":11435,"text":"to look at the tokenomics of a protocol if there are any at the moment with near there was an initial sale so sold","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11435s"},{"start_seconds":11443,"text":"through an Ico in April of 2018 which helped fund the foundation and the protocol itself but that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11443s"},{"start_seconds":11450,"text":"pretty centralized right use cases however the token itself is a utility token that's used for staking gas and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11450s"},{"start_seconds":11458,"text":"governance so we're seeing some utility in the token it's not purely speculative and then there are no rights and values it doesn't act like a stock certificate","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11458s"},{"start_seconds":11467,"text":"right you don't have rights to any Revenue you don't have any attributable value coming forth from the operation of the protocol to token holders so maybe","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11467s"},{"start_seconds":11476,"text":"it's a little bit more decentralized than that Ico comment would necessarily indicate and so near Arc of decentralization started off blank there","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11476s"},{"start_seconds":11485,"text":"was pretty much tight control within the near Foundation as it um built the protocol and then into its Ico it had","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11485s"},{"start_seconds":11492,"text":"the funding you see that that point there is close to funding still close to control not anywhere near community and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11492s"},{"start_seconds":11500,"text":"decentralization and as we see now at a current point it's moving towards that community in that optimal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11500s"},{"start_seconds":11507,"text":"decentralization sphere","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11507s"},{"start_seconds":11514,"text":"so we can probably say that the near blockchain is arguably a public good or rather infrastructure if you prefer that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11514s"},{"start_seconds":11522,"text":"term however despite the Leaps and Bounds and development over the last8","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11522s"},{"start_seconds":11530,"text":"months there are some areas for growth and progress and that's going to become very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11530s"},{"start_seconds":11538,"text":"important as the regul regulatory Spotlight begins shining on the near ecosystem so the regulatory touch points","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11538s"},{"start_seconds":11547,"text":"that most people focus on and we agree with as well are front-ends on and off ramps centralized and quasi centralized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11547s"},{"start_seconds":11554,"text":"Financial applications and DOW rappers you know if you create an entity to encircle a dow to give it legal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11554s"},{"start_seconds":11561,"text":"personhood or even voters if any of you follow us uh litigation in Uka the cftc","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11561s"},{"start_seconds":11570,"text":"went directly after the voters themselves but that was a particularized case with some Nuance","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11570s"},{"start_seconds":11576,"text":"but again back to this inflection point questions will begin to be asked of the corporate structure development implementation and funding like we've","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11576s"},{"start_seconds":11584,"text":"just covered but will also be asked about regulatory interoperability which we'll cover in just a few","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11584s"},{"start_seconds":11591,"text":"minutes so now that we've talked about near decentralization let's talk about moving","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11591s"},{"start_seconds":11600,"text":"into the future with boss as you all know boss was launched in March with six pillars fast author authorization","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11600s"},{"start_seconds":11608,"text":"development enablement Universal search gateways content moderation and near tasks with boss comes three wonderful","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11608s"},{"start_seconds":11617,"text":"attributes that I think are being pushed heavily this week rightly so interoperability","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11617s"},{"start_seconds":11626,"text":"democratized development and Open Access and control for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11626s"},{"start_seconds":11633,"text":"interoperability we have to worry about a few things though first of all as you work across the you know digitalized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11633s"},{"start_seconds":11643,"text":"Ledger environment and you become interoperable and cross chain you tend to inherit the traits of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11643s"},{"start_seconds":11652,"text":"the the many change you're working on as you build an app or a project because of that we have to consider when building","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11652s"},{"start_seconds":11659,"text":"in Boss are we going to establish a minimum set of standards that we'll require when you build and when you move","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11659s"},{"start_seconds":11665,"text":"across chains or will we have you know um fall to the lowest common","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11665s"},{"start_seconds":11673,"text":"denominator if we want to in EN enforce those minimum standards will we do that through boss can we build it into the modules","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11673s"},{"start_seconds":11682,"text":"themselves can we do it through the community how will we do that then we also not only do we inherit","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11682s"},{"start_seconds":11690,"text":"traits we increase the amount of vulnerabilities that the ecosystem may be subject to so if you have a vulnerability on another chain or an L2","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11690s"},{"start_seconds":11699,"text":"what does that mean for what's being built here on near and will that vulnerability bleed over and if it does that means in the exploitation of that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11699s"},{"start_seconds":11707,"text":"vulnerability will Ripper Ripple through the ecosystem and if it does how will we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11707s"},{"start_seconds":11714,"text":"know so maybe near governance the near governance Community needs to set up a monitoring tool or an information repository where people can understand","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11714s"},{"start_seconds":11722,"text":"what these vulnerabilities are and how to build around them then lastly as I said we we get to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11722s"},{"start_seconds":11729,"text":"regulatory interoperability jurisdictionally it's a global blockchain right so you're going to have to work across the world with different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11729s"},{"start_seconds":11738,"text":"regulators and have to consider all of the regulations that you're subject to then regulatory regimes defi blockchain","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11738s"},{"start_seconds":11747,"text":"crypto we like to remove intermediaries right and we work without silos well the traditional Finance World works with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11747s"},{"start_seconds":11754,"text":"intermediaries and silos which means Securities and um Commodities don't mix together right they're kept separate","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11754s"},{"start_seconds":11761,"text":"lending and payments are kept separate that's not the same here so what are you subject to if you build something that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11761s"},{"start_seconds":11769,"text":"combines those functions right does that mean you have to answer the SEC and the cftc in the US does that mean you have to answer to the FSA in the UK and also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11769s"},{"start_seconds":11778,"text":"the EU or the French authorities or the Portuguese authorities and how do you build for that then I'm going to move through","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11778s"},{"start_seconds":11785,"text":"these very quickly democratized development it's a great attribute can we encode decentralization into democratized development with boss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11785s"},{"start_seconds":11794,"text":"similar to building um standards into modules can we make sure open source is enshrined in in the boss ecosystem and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11794s"},{"start_seconds":11803,"text":"how do we do that it's admittedly difficult if it's a truly open development environment people can build with open source code but they can close","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11803s"},{"start_seconds":11811,"text":"some of it off too because it's open and then variable control and user autonomy is built into democratized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11811s"},{"start_seconds":11819,"text":"development however the nature of boss means that it is that it is built in a decentralized manner and V with variable control but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11819s"},{"start_seconds":11827,"text":"it also means that developers can build centralized apps and platforms can the community influence this socially or economically","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11827s"},{"start_seconds":11835,"text":"through near tasks or other elements lastly access and control current access points the near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11835s"},{"start_seconds":11843,"text":"Foundation primarily controls Fasto at the moment but others are building and hopefully we open up those access points the boss system and near governance how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11843s"},{"start_seconds":11851,"text":"can that interact together how can these four new Dows come together and affect the boss ecosystem and then lastly will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11851s"},{"start_seconds":11859,"text":"boss and will near tolerate centralized development through boss and if not how will the community come","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11859s"},{"start_seconds":11867,"text":"together to enforce that principle it's a little bit um philosophical but it's something the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11867s"},{"start_seconds":11875,"text":"community needs to to Grapple with soon anyway thank you I know it was quick if you want to analyze your own","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11875s"},{"start_seconds":11883,"text":"project or your own build we have is it decentralize doapp which is a series of questions that leads you through this analysis and will give you a number","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11883s"},{"start_seconds":11891,"text":"score at the end of it um and you can use as you build so then lastly I just want to say you know while the blockchain seems to be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11891s"},{"start_seconds":11900,"text":"nearly decentralized please keep all the four going in mind as the new community leads the world into the open web like a boss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11900s"},{"start_seconds":11908,"text":"thank","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11908s"},{"start_seconds":11920,"text":"you okay ladies and gentlemen thank thank you so much to uh John for taking us through that really insightful I can see some people from the Balan region","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11920s"},{"start_seconds":11929,"text":"are mischievously heading towards the front row and this can mean only one thing hopefully only one thing hopefully you don't have any fruit to throw at the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11929s"},{"start_seconds":11937,"text":"uh the next speaker because he is from the Balan region uh it's a gentleman called Mr Sandy ftic and uh he's working","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11937s"},{"start_seconds":11944,"text":"for a great organization called caliro and he's going to be talking about what to build next on caliro and boss and so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11944s"},{"start_seconds":11950,"text":"let's give him a huge welcome","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11950s"},{"start_seconds":11963,"text":"wrong slide but let's start with that everybody thank you for coming here my name is Sandi fatic um and I'm the CEO","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11963s"},{"start_seconds":11970,"text":"of calimero network I joined the near ecosystem four years ago and I'm going to give you an Insight of what to build next on calimero and near before that I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11970s"},{"start_seconds":11979,"text":"would ask you a question please raise your hand if you care about data privacy and data ownership right many as expected the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11979s"},{"start_seconds":11987,"text":"ones who didn't raise the hand hopefully I can change your mind with few ideas but we have to to start talking about web3 and the open web we have to look at","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11987s"},{"start_seconds":11996,"text":"what the internet looked like and what happened in the last 10 years and if you look what the biggest investments","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=11996s"},{"start_seconds":12004,"text":"in in the 10 years in the IT industry were and Innovation was software as a service it was great you get the ability","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12004s"},{"start_seconds":12013,"text":"to move all the services which you didn't want to run internally to somebody else and pay a fraction of the cost but many years after we get to a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12013s"},{"start_seconds":12022,"text":"point where software as a service is stuck as a service you cannot move out you have to pay high fees you have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12022s"},{"start_seconds":12029,"text":"pay you know crazy amounts of per seat per whatever and the value is not there","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12029s"},{"start_seconds":12037,"text":"anymore so the worst thing we are paying all these services but we ended up in a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12037s"},{"start_seconds":12045,"text":"situation where all this data is essentially getting stall and getting leaked everybody is giving data to companies","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12045s"},{"start_seconds":12052,"text":"like slack like I'm not going to name names but many others and essentially what happens the data gets leaked third party Services get compromised and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12052s"},{"start_seconds":12060,"text":"essentially we are paying them to lose our privacy and we have to change that so how do we change it the only way to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12060s"},{"start_seconds":12069,"text":"change it is to self-host it and everybody here in the room is going to say why would you self-host it isn't that crazy like we move from on premise","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12069s"},{"start_seconds":12077,"text":"to Cloud to you know software as a service because we didn't want to host it but if we actually care about it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12077s"},{"start_seconds":12084,"text":"that's the only way and I'm going to tell you what we do differently at calimero so if you look at currently","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12084s"},{"start_seconds":12091,"text":"you're a company you want to have all the data ownership inside a company what you would have to do most likely you would have to pay high license fees pay","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12091s"},{"start_seconds":12099,"text":"a $50,000 license to like $20,000 license to this guy another license another license another license","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12099s"},{"start_seconds":12107,"text":"unlimited Services you have to run at the same time what do you need you need a team a devop team to run it you need","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12107s"},{"start_seconds":12114,"text":"multiple databases to be run at the same time you need many microservices it becomes cumbersome and that's why nobody wants to use it but blockchain we always","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12114s"},{"start_seconds":12122,"text":"talk about thrust we talk about uh immutability we talk about many different things but me coming into the web three four years ago as an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12122s"},{"start_seconds":12130,"text":"infrastructure engineer working at Facebook then later on working as the infrastructure engineer uh at near the Pagoda team uh I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12130s"},{"start_seconds":12139,"text":"saw something differently from my perspective I would say and like what blockchain is really good is to provide you one environment which you can run","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12139s"},{"start_seconds":12147,"text":"all your microservices or smart contracts inside so instead of having to care about every single database every single micros service every single front","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12147s"},{"start_seconds":12155,"text":"end you just have to sure that the network is running as long the network is running all the applications on top are going to work fine","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12155s"},{"start_seconds":12163,"text":"and then boss and calimero like what's the intersection what can you do on boss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12163s"},{"start_seconds":12169,"text":"on near which you cannot do without calimero first of all if you build a Boss application all your data is public","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12169s"},{"start_seconds":12177,"text":"so what you get with us you get the ability to store your data privately secondly you'd have zero control over what the network near looks like it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12177s"},{"start_seconds":12186,"text":"two second block finality is this many gas fees is this many that in our case you customize the way is perfectly","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12186s"},{"start_seconds":12193,"text":"tailored to your use case Zero gas fees users don't have to pay to get the benefits of using a blockchain service","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12193s"},{"start_seconds":12200,"text":"and secondly people will say Sandy it's a centralized service it's a Federated system it's not so decentralized but","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12200s"},{"start_seconds":12207,"text":"does that really matter what is the problem we are trying to solve in some cases a centralized server will work in some cases currently we have zero","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12207s"},{"start_seconds":12214,"text":"knowledge maybe we can you know prove some of the cases federates assistants maybe you trust five banks more than you trust One Bank","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12214s"},{"start_seconds":12222,"text":"you know do you trust more Banks yes because there's a like less likelihood that it will go wrong and lastly it's managed like you get full control over","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12222s"},{"start_seconds":12231,"text":"what's happening inside your network and today I want to announce one thing a community Shard a community shart is essentially a private chart to which we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12231s"},{"start_seconds":12239,"text":"run we are running uh it's run by several entities from the near ecosystem um and it's essentially your portal into","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12239s"},{"start_seconds":12247,"text":"the open internet into the open web what does that mean users can come and try new experiences without ever knowing what is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12247s"},{"start_seconds":12255,"text":"blockchain and blockchain users web three users can deploy new types of applications Bobs applications for free and just start using it obviously we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12255s"},{"start_seconds":12264,"text":"cannot provide services for everybody so it's going to be probably rate limited and eventually as your community grows as your use case grows you will have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12264s"},{"start_seconds":12271,"text":"spin up your own chart and migrate so please start um using it now uh portal. cal. Network and the first","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12271s"},{"start_seconds":12280,"text":"use case we built on on the portal is a chat obviously everybody will ask why to build another","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12280s"},{"start_seconds":12287,"text":"chat or how can it be better than slack and right now at the moment it's not better than slack it will eventually become but we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12287s"},{"start_seconds":12296,"text":"build it in a way to show people that you can build real live world applications with good user experience which will eventually replace","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12296s"},{"start_seconds":12305,"text":"the others so you can scan the QR code yesterday was not working today it works we fixed the the issue","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12305s"},{"start_seconds":12313,"text":"uh yeah so please scan it n more minutes uh but I wanted to also take you one more time back back back to the future I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12313s"},{"start_seconds":12321,"text":"call it back in time when we started the internet we started with open protocol like IRC you had a standardized protocol which you could use you could build","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12321s"},{"start_seconds":12329,"text":"clients on top of it and it was open for everybody to use then later on WE migrated to slack and now my idea is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12329s"},{"start_seconds":12337,"text":"that eventually we will go back to the old ways like we will be have protocols which will Define how open web applications can interact and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12337s"},{"start_seconds":12346,"text":"interoperate for example you can have one same messaging protocol built baked into the calimero","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12346s"},{"start_seconds":12354,"text":"network but you can have different boss experiences for the same user on one side you can have a community chat where you can run you know your discussions","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12354s"},{"start_seconds":12363,"text":"about def have Integrations about whatever but on but on the same set of contracts you can also build a customer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12363s"},{"start_seconds":12370,"text":"support channel so same back end kind of in a way but different experiences and they should all be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12370s"},{"start_seconds":12379,"text":"interoperable reusable and integratable U and open source and like one thing which we're trying to push in the web3 industry","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12379s"},{"start_seconds":12388,"text":"right now it's a new maybe maybe not A New Concept but like we we we want to see it happen um is essentially to define a set of open web standards like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12388s"},{"start_seconds":12397,"text":"we did before for chat we had a standard for forms we had a standard for task we can have a standard for docs wikies so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12397s"},{"start_seconds":12404,"text":"all these applications can eventually interoperate be reusable and well like very well defined","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12404s"},{"start_seconds":12411,"text":"uh and the reason why this could be why why this is important in my CA like my uh my view let's say uh we have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12411s"},{"start_seconds":12420,"text":"reimplemented every single thing endless times again if you look slack if you look you know hopspot if you took uh teams all these applications are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12420s"},{"start_seconds":12428,"text":"essentially 99% the same we have endless developer resources going into the development of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12428s"},{"start_seconds":12436,"text":"the same things and with open web standards we can just build different experiences for different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12436s"},{"start_seconds":12444,"text":"users and maybe eventually we can just ask an AI to build different experiences for us let's say I want my select","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12444s"},{"start_seconds":12454,"text":"channel to be green or ask my select channel to be different or whatever so like building this components should be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12454s"},{"start_seconds":12462,"text":"pretty much easy like currently if you look at the near ecosystem there's a project called Jutsu AI which already does this so it's like you know almost","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12462s"},{"start_seconds":12469,"text":"there and I wanted to mention that the future is open source we have seen that now with you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12469s"},{"start_seconds":12478,"text":"know jgpt close Source everybody is concerned like what is happening in the behind we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12478s"},{"start_seconds":12484,"text":"see open AI models coming up we see open web applications open finance open everything the question question is like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12484s"},{"start_seconds":12491,"text":"how long will it take in our case um you can see like everything will be open source we want to have yeah different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12491s"},{"start_seconds":12500,"text":"noote experiences customizable front ends standards and the business model is built around a console so we have a developer consoles for developers who","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12500s"},{"start_seconds":12509,"text":"want to get into development for hosting for Enterprises so they don't have to do this that by themselves um and what's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12509s"},{"start_seconds":12517,"text":"coming next um so yesterday announced the ZK was improver so this like a little bit of technical stuff so the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12517s"},{"start_seconds":12524,"text":"things we are working on um to improve our current setup so we build the application and we backtrack uh we back like I think like one thing to say in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12524s"},{"start_seconds":12532,"text":"web three usually people people are building infrastructure infrastructure infrastructure one one layer after another and the problem is nobody's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12532s"},{"start_seconds":12541,"text":"really trying to solve a problem and if you look at any company in the past Facebook started as a you know three","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12541s"},{"start_seconds":12548,"text":"servers in a door room that it was 10 servers 100 servers one data center 100 data centers and they scaled up and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12548s"},{"start_seconds":12555,"text":"fixed the infrastructure and the problems and optimized it for that specific use use case and the thing why I think we don't have many applications","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12555s"},{"start_seconds":12563,"text":"because people start with protocols people start with you know operations and they never really tried to build an app and that's why we decided to build more and more apps and then optimize our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12563s"},{"start_seconds":12572,"text":"experience for this type of applications and several things we are you know we realized we can do is like obviously inter with the Z ZK was improver uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12572s"},{"start_seconds":12582,"text":"protocol lever encrypted State So currently for the encrypted state of the chat we have to have a manual uh service which does this a contract which does","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12582s"},{"start_seconds":12590,"text":"best we would like to extend this for any type of application inside the open web standard later on to have P2P boss runtime So currently we have a mini","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12590s"},{"start_seconds":12598,"text":"service which uh distributes the messages peer-to-peer uh but eventually I would like to see that you can deploy a contract and natively it knows how to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12598s"},{"start_seconds":12607,"text":"uh render these uh optimistic change es on the client side and like few things which I wanted to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12607s"},{"start_seconds":12615,"text":"mention uh we integrated two wallets currently user experience is very important we have the miner wallet on the other side we have fast thought fast","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12615s"},{"start_seconds":12623,"text":"thought allows anybody who's not a web3 user to onboard uh into the ecosystem and start using web 3 but also we have a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12623s"},{"start_seconds":12630,"text":"lot of other wallets coming uh soon so we are working on integration with sender wallets wallet meteor wallet Ledger metamask and hopefully other","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12630s"},{"start_seconds":12638,"text":"ecosystem wallets so like user should decide which wallets and which applications and how they want to use them also we have some Enterprise","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12638s"},{"start_seconds":12647,"text":"projects in the pipeline building on top of us uh so for example we have two in parcel chain working in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12647s"},{"start_seconds":12654,"text":"logistics um and parcel delivery system like yeah par not system but Industries","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12654s"},{"start_seconds":12663,"text":"uh and we also have projects like Spin and tuno which are more web tree oriented on the defi side and to tuno","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12663s"},{"start_seconds":12670,"text":"like you know more on the nft so like we really want to be let's say the layer two scaling solution and privacy","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12670s"},{"start_seconds":12677,"text":"solution for boss and allow like any use cases to be built um and like the question is like what what can you build like I spend you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12677s"},{"start_seconds":12685,"text":"know 12 minutes talking about like what can you build on the boss what should you build on the boss and I think you should build anything you want if you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12685s"},{"start_seconds":12693,"text":"want to get to a state where open web is accessible to everybody is usable by everybody we should be able to build as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12693s"},{"start_seconds":12700,"text":"good good experiences or better in the web three space than they currently are we should be able to integrate features","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12700s"},{"start_seconds":12707,"text":"and functionalities which will not be able to be integrated before possible before I mean thank you for the time uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12707s"},{"start_seconds":12717,"text":"if if you really enjoy this presentation and you think this is interesting to you uh please come to talk to us uh at our booth and if there's any questions","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12717s"},{"start_seconds":12725,"text":"unanswered I'm happy to answer them thank you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12725s"},{"start_seconds":12746,"text":"oh the naughty Bulan people are now leaving after Mr fatic has finished his speech you should stay for more thank you very much uh Raa vanuno so um that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12746s"},{"start_seconds":12755,"text":"was uh great to hear from our friends in the Balan region it's been really International we've just covered so many bases today uh and that's going to continue uh our","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12755s"},{"start_seconds":12763,"text":"next guest is from the herbit foundation and nice story about these guys is they had their uh conference here as well","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12763s"},{"start_seconds":12771,"text":"very recently so our next guest could have saved a fortune in hotel fees by just living on this stage uh so we're going to welcome him back now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12771s"},{"start_seconds":12778,"text":"representing us here in near uh Mr Sam and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12778s"},{"start_seconds":12789,"text":"RZ cool thank you good afternoon everybody so I'm here to talk briefly about herbit","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12789s"},{"start_seconds":12798,"text":"uh the open web and some of the work we've been doing with the near Foundation over the past three or so months uh in support of that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12798s"},{"start_seconds":12807,"text":"Vision so first off","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12807s"},{"start_seconds":12819,"text":"uh well I sort of thought I could Advance a slide there we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12819s"},{"start_seconds":12826,"text":"go so what is herbit urbit is a very old project with an enormous scope uh I could stand here for hours and give a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12826s"},{"start_seconds":12834,"text":"long- winded technical explanation about the konel uh you know uh our networking protocols our identity layer but this is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12834s"},{"start_seconds":12843,"text":"a short talk and I was thinking about how to best describe it uh when I was rewatching ilas talk yesterday and I like something he","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12843s"},{"start_seconds":12851,"text":"said it's what urbit does urbit is a place to store personal data to do peer-to-peer interactions and to run","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12851s"},{"start_seconds":12860,"text":"groups the way that we do this well what it actually is is a personal operating system that as a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12860s"},{"start_seconds":12868,"text":"first principle makes it easy to write and run peer-to-peer applications the urber kernel solves all the hard problems with implementing daps","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12868s"},{"start_seconds":12877,"text":"networking identity um code distribution and it allows","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12877s"},{"start_seconds":12885,"text":"developers to focus on the business logic right now I believe that urbit is the easiest way to build real decentralized applications no hand","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12885s"},{"start_seconds":12894,"text":"waving about what's coming from where or who's serving what or you know where any of your interactions are coming","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12894s"},{"start_seconds":12902,"text":"from so why near and why been have we been working with the boss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12902s"},{"start_seconds":12909,"text":"system well you're all familiar with how boss works but I'd like to take a high Lev look at some of the characteristics that boss has and compare them in some of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12909s"},{"start_seconds":12918,"text":"characteristics that IRB it has and I think this makes it pretty clear boss runs off of public front ends","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12918s"},{"start_seconds":12927,"text":"everything is on chain everything is legible and easily available boss is one part of a larger regimented","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12927s"},{"start_seconds":12934,"text":"comment herbit on the other hand focuses on personal backends scaling things to the user level and not necessarily","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12934s"},{"start_seconds":12943,"text":"exposing them to everybody boss does its Distribution on chain everything is up there for the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12943s"},{"start_seconds":12952,"text":"taking and lives there permanently herbit does its distribution through a peer-to-peer Network and necessarily never touches any Central","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12952s"},{"start_seconds":12961,"text":"repository whether that's a data center or a chain more conceptually boss Runnings are ephemeral","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12961s"},{"start_seconds":12969,"text":"right they live on chain and any uh updates any State updates any information that you would like to add","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12969s"},{"start_seconds":12976,"text":"into it has to live there as well and um when you're done with it you return it from when it came on urbit everything is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12976s"},{"start_seconds":12985,"text":"persistent and we believe that in a very strong way herbit is a function of itself and every event that happens","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12985s"},{"start_seconds":12993,"text":"updates your urbit event log uh such that it's there forever and so keeping these uh high","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=12993s"},{"start_seconds":13001,"text":"level and frankly reductive principles in mind I think a pretty clear picture or at least a possibility starts to emerge","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13001s"},{"start_seconds":13009,"text":"the D of Boss front ends coupled with urbit backends self-hosted front ends with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13009s"},{"start_seconds":13019,"text":"data pulled from onchain um in the general case enriched by specific private and personal data and augmented with the functionality of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13019s"},{"start_seconds":13027,"text":"a personal server and a peer-to-peer Network now this is a pretty new partnership I first learned about near only a few","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13027s"},{"start_seconds":13035,"text":"months ago we've been making rapid progress and the first thing that we're hoping to unveil at this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13035s"},{"start_seconds":13043,"text":"conference is that any boss Gateway can now be an urbit app any boss Gateway can now be distributed peer-to-peer on the urban","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13043s"},{"start_seconds":13052,"text":"Network it can be entirely self-hosted and is now the first time completely decentralized you no longer have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13052s"},{"start_seconds":13059,"text":"worry about about uh man- in the-middle attacks with your uh with whoever is providing you the Gateway you don't have to worry about whether the code is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13059s"},{"start_seconds":13067,"text":"actually what they're saying it is now you can self-host it you can pull it from someone you trust and you can share the Gateway yourself on the urban","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13067s"},{"start_seconds":13081,"text":"Network I was going to say scan the QR code but rather head over to bit. start and one of our ecosystem companies will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13081s"},{"start_seconds":13088,"text":"onboard you to the urbit network and you can join our group near X serit we'll be posting more information on how you can download our first implementation of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13088s"},{"start_seconds":13096,"text":"n.org Gateway how you can pull it onto your on to your herbit instance how you can share it with your friends and how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13096s"},{"start_seconds":13103,"text":"you can start uh using the boss system in a completely decentralized and Sovereign fashion and this is cool this is a real","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13103s"},{"start_seconds":13111,"text":"meaningful step and an upgrade in sovereignty for the boss system and for the open web as a whole but it's still","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13111s"},{"start_seconds":13118,"text":"just the first step in that direction so what's next well one of the things we're most excited about is what we've taken to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13118s"},{"start_seconds":13127,"text":"calling urbit aware boss components right now we've made it so that you can serve a Gateway from an urbit ship and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13127s"},{"start_seconds":13134,"text":"you can have your components being served from your own server but wouldn't it be great if it served like a truly functional backend where you could","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13134s"},{"start_seconds":13143,"text":"actually uh take advantage of the urbit operating system what we're going to be doing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13143s"},{"start_seconds":13151,"text":"along with several other things over the next few months is making a fork of the near social virtual machine which is the VM that uh boss runs in for now uh and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13151s"},{"start_seconds":13161,"text":"we'll be exposing a custom urbit urbit object to go along with the other four custom objects and what this will allow for is for Boss developers to make","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13161s"},{"start_seconds":13170,"text":"components that will be able to recognize when they're being served from an herbit ship and then take advantage of that fact and make calls into the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13170s"},{"start_seconds":13177,"text":"herbit user space uh in order to retrieve private personal data that you might not necessarily want onchain in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13177s"},{"start_seconds":13184,"text":"this very early and not yet determinate example code we have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13184s"},{"start_seconds":13192,"text":"um hypothetically someone calling into an app that we call Pals which stores social graphs on herbit this is information that you might not want","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13192s"},{"start_seconds":13200,"text":"everyone to know but it could be very useful for a boss developer another easy example app would","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13200s"},{"start_seconds":13207,"text":"be a notebook where you might want to have the interface stored onchain and you might want to have some you know onchain social features But ultimately","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13207s"},{"start_seconds":13215,"text":"you don't want your notes living anywhere except your own personal server we'll also be moving quickly on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13215s"},{"start_seconds":13225,"text":"the on Federated RPC provision Services right now we default to one of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13225s"},{"start_seconds":13231,"text":"many centralized RPC providers like most blockchain products in the future we'll be taking advantage of the herbit network and its Federated architecture","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13231s"},{"start_seconds":13239,"text":"in order to provide meaningfully decentralized RPC services that way uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13239s"},{"start_seconds":13246,"text":"not only are you certain that the code you're hosting is on your own server but the calls you're making are trustworthy as","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13246s"},{"start_seconds":13258,"text":"well lastly we're hoping to implement a more thoroughgoing implementation with the near blockchain right now everything we've","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13258s"},{"start_seconds":13266,"text":"done and everything that we have tightly scoped out is based around the boss system um which is good there's a very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13266s"},{"start_seconds":13273,"text":"clear story there with front ends and back ends being married together but over the next few months once we've done","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13273s"},{"start_seconds":13280,"text":"the VM fork and once we've gone ahead with the RPC infrastructure we're hoping to provide a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13280s"},{"start_seconds":13288,"text":"standard way for urbit developers to take advantage of the near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13288s"},{"start_seconds":13297,"text":"chain lastly I like to to finish up uh by revisiting the idea of the open","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13297s"},{"start_seconds":13304,"text":"web like Ilia mentioned yesterday we used to have something that looked more like an open web protocols","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13304s"},{"start_seconds":13312,"text":"took precedence over platforms users often tended to run their own servers rather than being silent into centralized data centers and at the time","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13312s"},{"start_seconds":13322,"text":"it seemed like the backslide into the client server model was not inevitable thus far we've been very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13322s"},{"start_seconds":13330,"text":"casual about the way our computers and programs have been designed a mindset that I think no longer plays over the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13330s"},{"start_seconds":13336,"text":"next 5 to 10 years we can expect that the digital Commons is going to become overrun with uh self-generated content","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13336s"},{"start_seconds":13345,"text":"that's indistinguishable from you know what we might expect a person to make the commons will become fundamentally","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13345s"},{"start_seconds":13352,"text":"untrustworthy right and the open web uh as we currently understand it or as it was understood perhaps 10 years ago will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13352s"},{"start_seconds":13359,"text":"will completely die if we're to retain our sovereignty through this we cannot be so careless with our digital identity","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13359s"},{"start_seconds":13367,"text":"and the way that we use our computers in many ways I think that Urban and near have been approaching","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13367s"},{"start_seconds":13374,"text":"this problem from opposite directions for a long time near provides flexible onchain protocols and standards in order to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13374s"},{"start_seconds":13383,"text":"create a highly legible and regimented comments whereas bit focuses on reinforcing the sanctity or even the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13383s"},{"start_seconds":13392,"text":"sanctum of the individual removing the requirement that in order to take even the most trivial action on your computer you expose yourself to a broader","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13392s"},{"start_seconds":13401,"text":"ecosystem of platforms and predatory individuals at large over the next couple months we'll","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13401s"},{"start_seconds":13410,"text":"be moving on a number of important pieces of infrastructure that will allow boss developers to take advantage of urbit in the urbit network all boss","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13410s"},{"start_seconds":13417,"text":"developers are going to have access to a structured backend built around sovereignty they're going to be able to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13417s"},{"start_seconds":13424,"text":"take advantage of a peer-to-peer network uh and they will no longer have to rely on centralized RPC","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13424s"},{"start_seconds":13433,"text":"providers even more so than a technical partnership though I like to think of this as a alignment of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13433s"},{"start_seconds":13442,"text":"philosophies we've been working on the same problem from opposite directions and both of us for quite a long time now and I'm looking forward to seeing what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13442s"},{"start_seconds":13451,"text":"happens when we meet in the middle uh we'll be we'll be here for the rest of today and tomorrow showing off","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13451s"},{"start_seconds":13457,"text":"our new app and uh you know looking for more apps to put on herbit um we have a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13457s"},{"start_seconds":13465,"text":"booth over in the hacker headquarters uh and we'd love it if you uh came by and talk to us","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13465s"},{"start_seconds":13473,"text":"um thank you very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13473s"},{"start_seconds":13478,"text":"much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13478s"},{"start_seconds":13492,"text":"check thank you so much for that and uh great to have our partners from the uh herbit Foundation here so the good news ladies and gentlemen is you now have a a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13492s"},{"start_seconds":13501,"text":"toilet break or a coffee break or a cigarette break or all three combined I'm not here to judge or to check up on any of you go and do as you will 10","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13501s"},{"start_seconds":13509,"text":"minutes 10 minutes starting from now uh so please be back in 10 thank you so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13509s"},{"start_seconds":13538,"text":"much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13538s"},{"start_seconds":13568,"text":"nah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13568s"},{"start_seconds":13598,"text":"n","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13598s"},{"start_seconds":13658,"text":"n","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13658s"},{"start_seconds":13958,"text":"e","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=13958s"},{"start_seconds":14107,"text":"n","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14107s"},{"start_seconds":14137,"text":"a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14137s"},{"start_seconds":14162,"text":"please welcome our MC to the stage near foundations David Morrison","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14162s"},{"start_seconds":14174,"text":"all right okay listen few more hours and you can go get pissed Oh wait we're live on YouTube I don't know if I can swear","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14174s"},{"start_seconds":14182,"text":"it it's done now isn't it okay um right we're about to start the uh incredible AI track so raise your hand if you've ever used","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14182s"},{"start_seconds":14191,"text":"AI all right you're all getting sacked soon um okay so we have an incredible panel it's called called building at the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14191s"},{"start_seconds":14199,"text":"intersection of web 3 AI and we have your wonderful moderator subin an who's going to introduce your guest so give it over","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14199s"},{"start_seconds":14216,"text":"subin okay","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14216s"},{"start_seconds":14224,"text":"okay hello good afternoon so I'm really excited to be be here because","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14224s"},{"start_seconds":14231,"text":"today's topic building at the intersection of web 3 and AI very amazing topic and I really honored to be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14231s"},{"start_seconds":14239,"text":"with this wonderful panels so let's start with introducing each other so start with Julian could you start with your introduction so my name is Julian","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14239s"},{"start_seconds":14248,"text":"Balu I'm U the founder uh of state capital group we invest in the space and we also build and incubate a bunch of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14248s"},{"start_seconds":14257,"text":"different projects my name is Olga felm um I'm co-founder","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14257s"},{"start_seconds":14264,"text":"of several companies um eloni is my current topic of focus and it's uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14264s"},{"start_seconds":14271,"text":"decentralized EI infrastructure I'm Matt Stevenson I'm an economist by training and I'm the head of research at pan Capal Matt could you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14271s"},{"start_seconds":14279,"text":"please mic more because should we try again okay yeah all right I'm Matt Stevenson I'm an economist by training and I'm the head of research at panta","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14279s"},{"start_seconds":14287,"text":"Capital and my name is uh Dr James tremans uh my background is actually in AI but I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14287s"},{"start_seconds":14295,"text":"currently lead Google's web 3 efforts from cloud okay great we only have 20 minutes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14295s"},{"start_seconds":14301,"text":"so just go straight to the point so before we go to the intersection between web3 and AI I the web 3 and crypto AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14301s"},{"start_seconds":14311,"text":"this is very highly secured for the last 10 years I think so I just wonder what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14311s"},{"start_seconds":14318,"text":"key value do you primarily focus on for these keywords web 3 and AI so why it is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14318s"},{"start_seconds":14326,"text":"important for you and these words how about sty James sure well I think um AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14326s"},{"start_seconds":14334,"text":"has been knocking around for a long time and in we've seen a lot of technical progress recently that's going to affect","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14334s"},{"start_seconds":14341,"text":"society in some very deep and Broad ways and of course Google is an AI first company for a long time has been making","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14341s"},{"start_seconds":14348,"text":"ongoing investments in that space and we externalize those Investments through Google Cloud so any business can can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14348s"},{"start_seconds":14355,"text":"take part in um this uh Renaissance and and Revolution and then in in much the same way I think web 3 has uh similar","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14355s"},{"start_seconds":14365,"text":"amount of innovation that's happened over the past 10 years obviously a lot since 2016 but it also has a lot of promise to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14365s"},{"start_seconds":14372,"text":"how it can improve and uh impact societies as well both from the outside in thinking about banking the unbanked and so forth as well as improving","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14372s"},{"start_seconds":14380,"text":"existing Capital markets processes um by by working from the inside out and so it's very interesting to naturally think about the intersection of these two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14380s"},{"start_seconds":14388,"text":"things and as we will no doubt discuss it's AI for web 3 or is it web 3 for AI or is it both cool definitely yeah I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14388s"},{"start_seconds":14397,"text":"would say uh obviously there's some similarities between Ai and web 3 I think we took the sort of winter thing from AI right like there were AI Winters","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14397s"},{"start_seconds":14405,"text":"for a long time that sort of described these downturns and we borrow that in crypto crypto winter so there's something similarity or sort of similar","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14405s"},{"start_seconds":14412,"text":"about um the two areas but I think in particular like with the emergence of obviously uh you know the Transformer which we're familiar with for for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14412s"},{"start_seconds":14420,"text":"reasons not unrelated to the conference and um and you know obviously the excitement around GPT there's just some interesting areas where it makes sense","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14420s"},{"start_seconds":14428,"text":"for web 3 to help Ai and for AI to help web 3 and I think both of those are actually really exciting particularly excited about the ladder I actually think crypto has a lot to offer to AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14428s"},{"start_seconds":14437,"text":"maybe some tech technical sort of ways we'll see if we can uh cover those without everybody falling asleep but uh but yeah maybe we'll talk about it later","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14437s"},{"start_seconds":14444,"text":"cool yeah so I think it's match made in heaven because you know everything that we have built in 10 years in crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14444s"},{"start_seconds":14453,"text":"matches very nicely the demands of you know AI Pro projects and models obvious","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14453s"},{"start_seconds":14461,"text":"examples we have decentralized Computing decentralized storage encryption segregated learning and with all of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14461s"},{"start_seconds":14469,"text":"those Concepts we are able to build even a better decentralized the right so this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14469s"},{"start_seconds":14475,"text":"is really amazing intersection oh well yeah as mentioned I think I is a powerful tool but for now they are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14475s"},{"start_seconds":14484,"text":"different a lot of different aspect of AI that can be very dangerous such as data uh uh security and all different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14484s"},{"start_seconds":14491,"text":"things and in in a blockchain space the same you have a bunch of different activity and you don't really know how to filter the type of activity","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14491s"},{"start_seconds":14499,"text":"so AI could actually help so AI in in in blockchain could be a very good feed for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14499s"},{"start_seconds":14505,"text":"uh providing and enhancing security across the two different worlds cool so we have a very common thesis for these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14505s"},{"start_seconds":14514,"text":"three C so if we if I had to categorize in two parts with building the intersection of the we AI it could the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14514s"},{"start_seconds":14523,"text":"first one will be blockchain enance Ai and second will be AI enhancing the blockchains so I just want to start with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14523s"},{"start_seconds":14530,"text":"Julian that how could blockchain help AI ecosystem because you already had founded the AI and blockchain Company","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14530s"},{"start_seconds":14537,"text":"before so could you share your experience so um long time ago in the defi space of course always uh before","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14537s"},{"start_seconds":14546,"text":"defi came up I was building a project that was analyzing data from space um so using machine learning model that could","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14546s"},{"start_seconds":14554,"text":"um extract value from Real World asset for example the live production of coffee in Brazil and then sell that data","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14554s"},{"start_seconds":14561,"text":"to hedge F so they could place bet on the market knowing in two years or one year the production of coffee will be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14561s"},{"start_seconds":14568,"text":"better in Brazil or Venezuela whatsoever um so the point is the way you can um so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14568s"},{"start_seconds":14576,"text":"it's blockchain helping AI or AI helping blockchain blockchain helping AI yes so blockchain could really I think the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14576s"},{"start_seconds":14583,"text":"biggest goal of of blockchain in AI because AI is the data securization um we are using a bench of a lot of data","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14583s"},{"start_seconds":14592,"text":"to train AI but we don't really give back the value of that data back to institution or people that generating","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14592s"},{"start_seconds":14599,"text":"this value so I think blockchain could unlock a lot of value for the data aggregation to teach train or enhance","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14599s"},{"start_seconds":14608,"text":"the AI capability so it's really about giving back the value of that data back to people using blockchain to train the next generation of AI because if you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14608s"},{"start_seconds":14617,"text":"look at um all the AI system in the world that have been built in this uh I don't think any value back to people was","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14617s"},{"start_seconds":14625,"text":"actually distributed yeah I think it could be related with Federate learning or iot stuff I think right yeah how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14625s"},{"start_seconds":14634,"text":"about Olga do you have any idea for for this one blockchain ining to AI well if you look at what's happening like in AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14634s"},{"start_seconds":14642,"text":"outside of crypto right like you know we need to catch up right like you see all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14642s"},{"start_seconds":14648,"text":"of those you know general purpose llms having been built millions of people are using them but even you know specialized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14648s"},{"start_seconds":14657,"text":"models right are being built like for example Bloomberg uh GPT right with 7","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14657s"},{"start_seconds":14663,"text":"billion uh tokens 50 billion parameters right and it works it's amazing it's proprietary dat data there are a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14663s"},{"start_seconds":14671,"text":"specialized models already you know for e-commerce for you know different Industries but n yet in in crypto right","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14671s"},{"start_seconds":14679,"text":"so we really need to catch up and this is what we currently focusing on okay how about Matt well so I mentioned this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14679s"},{"start_seconds":14687,"text":"is the area I'm especially excited about and if anybody is interested in the like technical stuff and you're at the big AI Conference next month in New Orleans called uh called NPS come check out my","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14687s"},{"start_seconds":14696,"text":"talk we got a paper accepted there on uh how how crypto helps AI so that's sort of long and short of it I I mentioned I'm an economist so I'm going to try to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14696s"},{"start_seconds":14703,"text":"not be too uh too like game theoretical in the answer but essentially what it amounts to is that there's certain assumptions that get made in the development of AI such that when you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14703s"},{"start_seconds":14712,"text":"turn them loose and try to do Cooperative AI where one AI is interacting with another there's just sort of like classic game theoretic exploits that aren't really well handled","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14712s"},{"start_seconds":14720,"text":"in the AI literature because you just didn't have to right you you sort of controlled these things when you start to turn them loose it looks closer to a concept like me right so maybe many of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14720s"},{"start_seconds":14730,"text":"us are familiar with that right like the Galaxy brain take on me is that it maps on to these sort of like unintended consequences and that's sort of of what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14730s"},{"start_seconds":14738,"text":"it's going to look like if you uh use the let's say naive um external regret minimization reinforcement learning learning in crypto or uh nii and you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14738s"},{"start_seconds":14747,"text":"assume they're going to cooperate along those Dimensions cool I think that's a really interesting point so I think at the kind of higher up the stack when you have interacting agents um and they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14747s"},{"start_seconds":14756,"text":"might have a uh you know you want to drive economic incentive for how those agents behave with respect to one another I think crypto can help facilitate that for sure um but I also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14756s"},{"start_seconds":14765,"text":"like this idea that you know if you want to combine web 3 and AI such that imagine you have a wallet imagine in your wallet you have your credentials","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14765s"},{"start_seconds":14773,"text":"and your data um those are digitally signed documents by your bank your your company of employment your mortgage provider who whatever and you could ask","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14773s"},{"start_seconds":14782,"text":"an llm to go and get you a new mortgage or a new insurance or a new whatever and because your data is local and maybe this llm has been optimized to run on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14782s"},{"start_seconds":14790,"text":"your device um no data's left anyway it hasn't gone and it can go and negotiate on your behalf um to get you the best mortgage refg Ates in like a reverse","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14790s"},{"start_seconds":14799,"text":"auction mechanism or something they bid back into you and before you know it the llm has presented to you uh a a set of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14799s"},{"start_seconds":14806,"text":"three choices and you're in the loop and can make that decision and so there's a little bit of AI for web 3 and web 3 for AI because you could also Imagine provenance you can imagine U multiparty","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14806s"},{"start_seconds":14815,"text":"computation where maybe there external companies need to work together on something um it it gets interesting very quickly but of course there's a bunch of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14815s"},{"start_seconds":14823,"text":"stuff that needs to happen before we get to that especially around identity so Julian more focus on data collection and data process level and three of are are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14823s"},{"start_seconds":14833,"text":"more focusing on in like in like interface rebel I think so I want to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14833s"},{"start_seconds":14839,"text":"start with this question with Olga that how AI incing the web 3 ecosystem","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14839s"},{"start_seconds":14846,"text":"because you recently pivoting your items to AI so how could be support the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14846s"},{"start_seconds":14853,"text":"blockchain system with AI yeah I think you know guys like we probably all agree that one of the biggest hardles to mass","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14853s"},{"start_seconds":14860,"text":"adoption is uh uix right defies very complex very difficult to use right if you're not in the space like dealing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14860s"},{"start_seconds":14869,"text":"with your keys and sending to the right addresses and bridges and all of this right it's a complexity normal consumer","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14869s"},{"start_seconds":14876,"text":"investing in Tech stuff cannot uh um you know cannot deal with so we you know we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14876s"},{"start_seconds":14883,"text":"said okay how about you know we can create and you know meta layer for transaction where you as a user don't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14883s"},{"start_seconds":14891,"text":"need to like trade and push buy and sell you can just talk right you can talk you can say okay find me the best bridge and find me the best yelding pool and send","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14891s"},{"start_seconds":14900,"text":"my you know Issa from Kraken to through my you know metamask to best yielding pools right you just say that and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14900s"},{"start_seconds":14909,"text":"magic happens so this is what we're building and I think this is this is where we can you know change like you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14909s"},{"start_seconds":14916,"text":"know how difficult it is for people well making it easier for people to invest in Defi and be part of our ecosystem so do","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14916s"},{"start_seconds":14924,"text":"you enjoy the Sam alman's recent like video the gpts do you enjoy it yeah awesome awesome it's actually you see","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14924s"},{"start_seconds":14933,"text":"it's kind of like they're doing similar things it's just different specialization right whereas uh CH GPT","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14933s"},{"start_seconds":14940,"text":"and open AI it's like massive general purpose models right we take these models we tune them for the purpose of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14940s"},{"start_seconds":14948,"text":"crypto right and it's guys it's all about data right so you need to input a lot of good high quality uh industry","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14948s"},{"start_seconds":14957,"text":"specific data we have all the analytics on chain data and we have it all for free right we not like you know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14957s"},{"start_seconds":14964,"text":"traditional Finance where you have to pay for all the data right so this is amazing and and you know on one side we need to build the infrastructure so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14964s"},{"start_seconds":14972,"text":"those fine tune specialized llms large language models right on the the top of which you know we can then build the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14972s"},{"start_seconds":14980,"text":"applications for users right and our power in crypto Community is that we can do it together you know to to to train a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14980s"},{"start_seconds":14989,"text":"good specialized llm models you need hundreds of millions it's so expensive you know GPU is expensive data is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14989s"},{"start_seconds":14996,"text":"expensive everything like as a startup you cannot do this right but in crypto we have decentralization we can submit","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=14996s"},{"start_seconds":15004,"text":"the data jointly we can train the models even raising right like like our ecosystem just just is cap is capable of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15004s"},{"start_seconds":15013,"text":"combining and creating value in this decentralized way and this is why we're going to win okay cool I think we have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15013s"},{"start_seconds":15021,"text":"not much time so I think many AI like AI in blockchain will be mentioned by next","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15021s"},{"start_seconds":15029,"text":"panels or something I want to jump up to the what is the hle for the AI and web3 intersection so in here there are many","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15029s"},{"start_seconds":15037,"text":"overhype keywords in here like in my case I think like prevention the de is very hype keyword for me because it is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15037s"},{"start_seconds":15047,"text":"not it couldn't be solved as a blockchain so what kinds of things are overhyped this area could you like how","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15047s"},{"start_seconds":15055,"text":"about met do you have any idea of this well things are overhyped in web 3 AI or both would you say yeah like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15055s"},{"start_seconds":15062,"text":"intersection uh at the intersection of web 3 and I it's a good question I mean I think there are things so we mentioned","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15062s"},{"start_seconds":15070,"text":"some of the some of the like data models earlier I wouldn't say it's overhyped right but like like like data marketplaces are very difficult to implement um so that's not one of those","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15070s"},{"start_seconds":15078,"text":"that I would say is not going to work like I think it will work it's just one of those where if somebody gives me the job to design the incentives I'm like oh no please do it to somebody else it's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15078s"},{"start_seconds":15085,"text":"very hard right but uh but it's obviously in some ways like one of the biggest problems and and ZK proofs help to a decent degree like proof of compute","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15085s"},{"start_seconds":15092,"text":"sort of stuff right but like the the data market stuff is just is just a sort of like classic hard problem right because you have this issue where if I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15092s"},{"start_seconds":15100,"text":"try to if I sell you my data you're instantly a competitor with me where now you can sell the same data to somebody else right so it uh a marginal cost of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15100s"},{"start_seconds":15108,"text":"this stuff approaches zero very quickly um just difficult to design markets around so I would say that's the one that's the toughest nut to crack uh right off hand that we sort of talked","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15108s"},{"start_seconds":15117,"text":"about cool Julian do you have any idea of this like technical hles in this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15117s"},{"start_seconds":15124,"text":"area um what the problems of blockchain and AI together yeah yeah well I I think","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15124s"},{"start_seconds":15130,"text":"the major problem is uh making sure the the the AI is not trying to produce its own data and then blockchain will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15130s"},{"start_seconds":15139,"text":"consume the data but the data will be completely uh polluted and then you I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15139s"},{"start_seconds":15146,"text":"think this is um people building machine learning is in AI are actually scared of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15146s"},{"start_seconds":15152,"text":"is when you open an open economy where agents can get paid to do things at the end of the day they also producing the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15152s"},{"start_seconds":15161,"text":"type of data so at what at which point this data is being produced by machines and not humans and then maybe you can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15161s"},{"start_seconds":15168,"text":"get you can downsize in quality of next machine learnings uh in the next models because this data is not actually uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15168s"},{"start_seconds":15177,"text":"accurate or very good data so there could be a point where the model and this was explained by CH GPT uh founder","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15177s"},{"start_seconds":15185,"text":"Sam where Maybe the model that we have created is the best model because this is the best quality data that we could have access to but moving forward this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15185s"},{"start_seconds":15194,"text":"data could be potentially affected by kind of virus or any type of things like that so there will be a way for the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15194s"},{"start_seconds":15201,"text":"blockchain economy to attack the data quality or the data layer and this is actually a big problem guaranteeing the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15201s"},{"start_seconds":15210,"text":"quality and the currency of data so you most like mostly focus on data side right data collect for me it's like yeah","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15210s"},{"start_seconds":15219,"text":"okay there's a hype in crypto there's a hype in in in in U in in in AI but I don't feel like people I mean it's a big","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15219s"},{"start_seconds":15228,"text":"risk you know trying to guarantee that people are getting paid for the data they're producing and trying to guarantee that um the AI is actually","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15228s"},{"start_seconds":15237,"text":"serving people and not evolving by himself and serving purposes because of AI and open data I think we really need","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15237s"},{"start_seconds":15245,"text":"to focus on zero knowledge proof on the fact that um people can still exist in a way that they're producing value and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15245s"},{"start_seconds":15253,"text":"they're getting paid for the value and not big institution big Enterprise worldwide sucking the value of people to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15253s"},{"start_seconds":15260,"text":"train those sayi and getting more powerful I think this is the biggest risk right now so in this point I want to hear from James how about how do you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15260s"},{"start_seconds":15269,"text":"think about this one yeah so I mean it's an interesting why James because of Google or yeah Google Cloud as a cloud service yeah yeah I mean well obviously","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15269s"},{"start_seconds":15277,"text":"as a cloud business our role is to make models available for businesses to build on them to have their own products and services and specialize and so on and so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15277s"},{"start_seconds":15286,"text":"forth I think um there's a very real reality that in order to train these models you need a lot of compute and you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15286s"},{"start_seconds":15294,"text":"need that compute to be together and connected over infin band or some type of high performance High throughput uh interconnect and so actually there are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15294s"},{"start_seconds":15302,"text":"very few organizations in the world that have made that investment and so there are it's natural that there will be a few people that can do it very very well","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15302s"},{"start_seconds":15311,"text":"um so you know our focus is making sure that the models we're building and the models that other people are building are accessible to everybody so everybody can get the value out of them and that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15311s"},{"start_seconds":15319,"text":"one of the uh I would say positions Google cloud has taken is not just to make its own foundational models available through the platform but also the foundational models provided by","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15319s"},{"start_seconds":15327,"text":"others as well cool so we have only one minute and a half so you you are also","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15327s"},{"start_seconds":15335,"text":"Builders and Founders and supporters and here and here are many potential Founders and Builders and here so could","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15335s"},{"start_seconds":15342,"text":"you share a word for them for this area how about start with drillion yeah I would say if you looking","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15342s"},{"start_seconds":15350,"text":"to build something in AI in blockchain try to focus on the product rather than the the Buzzy world so trying to find","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15350s"},{"start_seconds":15358,"text":"and identify an existing problem where you can tackle this problem with AI or blockchain it's uh I mean those two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15358s"},{"start_seconds":15366,"text":"technology will be transforming Society but whether you can actually use both of them is very complex I would say at the moment we seeing a lot of decks and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15366s"},{"start_seconds":15374,"text":"presentation where people like to mention those names uh but they're actually not solving any problems so try really to focus on the product that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15374s"},{"start_seconds":15382,"text":"solving real world uh problems and then you can see how this technology can help you achieve this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15382s"},{"start_seconds":15391,"text":"Mission well here's my call guys you want to build the eye better decentralized a join us Elon AI is a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15391s"},{"start_seconds":15400,"text":"project you know whatever you can do you know better data sources you know whom to follow you know where to look for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15400s"},{"start_seconds":15407,"text":"Alpha you can you know submit data you can validate the data you can con context right so putting the data into","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15407s"},{"start_seconds":15415,"text":"context explaining to the model what this data means we need all of people's you know helping to build a decentralized DI so if you're interested","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15415s"},{"start_seconds":15424,"text":"in this type of uh engagement check it out El register and uh we'll be happy to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15424s"},{"start_seconds":15431,"text":"see you on part of the project cool how about Matt yeah I just Echo what they said do it I mean I think there's there's some real opportunity there in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15431s"},{"start_seconds":15440,"text":"both directions if you're an AI person I think there's very cool opportunities to build in web 3 and if you're a web 3 person um yeah similarly solving some","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15440s"},{"start_seconds":15448,"text":"problems in AI it makes sense there's enough of an overl Pi there's a lot of opportunity go for it Jam my my quick","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15448s"},{"start_seconds":15455,"text":"comment would be um really focus on value differentiation because a lot of the AI and web 3 use cases is just AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15455s"},{"start_seconds":15464,"text":"for any other problem whether it's writing software or helping you query data through natural language this is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15464s"},{"start_seconds":15470,"text":"already possible web 3 is not unique um so focus on something which is truly only relevant at the intersection of web 3 and Ai and then you'll have an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15470s"},{"start_seconds":15479,"text":"interesting value cool not enough time for discuss all of thing but very insightful panel so please give a big","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15479s"},{"start_seconds":15487,"text":"round of applause to them and thanks a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15487s"},{"start_seconds":15515,"text":"lot","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15515s"},{"start_seconds":15529,"text":"all right enjoy it yeah enjoy it yeah you did okay brilliant right well the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15529s"},{"start_seconds":15537,"text":"next talk is going to go even deeper into the world of AI and then the one after that even deeper and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15537s"},{"start_seconds":15545,"text":"deeper next up we have the wonderful and I hope I don't ruin your name I'm sorry","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15545s"},{"start_seconds":15552,"text":"um mamuk araki uh on AI and blockchain and how that is going to equal the future of work so please give a big","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15552s"},{"start_seconds":15560,"text":"round of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15560s"},{"start_seconds":15574,"text":"applause okay well hello everyone it's great to be back here at newon um with all of you here in beautiful","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15574s"},{"start_seconds":15583,"text":"Lisbon so my hope is that this talk will ease us into the theme of how Ai and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15583s"},{"start_seconds":15590,"text":"blockchain intersect so a history of AI and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15590s"},{"start_seconds":15597,"text":"blockchain can be told through the game of chess in 1997 an AI chess engine called Deep Blue","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15597s"},{"start_seconds":15605,"text":"famously defeated Grandmaster Gary Kasparov and deep mind or deep blue wasn't intelligent per se it couldn't","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15605s"},{"start_seconds":15614,"text":"produce strategy but it could calculate over 200 million chess moves per second so this was a watershed moment","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15614s"},{"start_seconds":15623,"text":"where AI caught the Public's imagination and since then AIS have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15623s"},{"start_seconds":15632,"text":"defeated the best players in games like back gamon Jeopardy and as portrayed more recently","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15632s"},{"start_seconds":15641,"text":"in the Google Deep Mind documentary go here we see the champion Lee s all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15641s"},{"start_seconds":15647,"text":"capitulating against the alphao program so we're captivated by these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15647s"},{"start_seconds":15655,"text":"battles for Humanity seeing generational talents humbled by the Superhuman skills of AI when Lee sadal retired from","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15655s"},{"start_seconds":15665,"text":"professional play in 2018 he stated that he could never be the top player of go due to the increasing dominance of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15665s"},{"start_seconds":15673,"text":"AI he referred to them as being entities that cannot be defeated so as the saying goes","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15673s"},{"start_seconds":15682,"text":"technology is a mirror and when we look at a reflection what do we see whatever it is it is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15682s"},{"start_seconds":15692,"text":"humbling in light of AI we're realizing more than than ever that humans are endowed with modest cognitive","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15692s"},{"start_seconds":15701,"text":"capabilities and for the time being and with a degree of caution we can safely say that AI is endowed with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15701s"},{"start_seconds":15710,"text":"less as John McCarthy lamented as soon as it works no one calls it AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15710s"},{"start_seconds":15720,"text":"anymore so cognitive scientists once believed that studying the brains of the best CH players would reveal the golden secrets of human","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15720s"},{"start_seconds":15728,"text":"intelligence to defeat Alpha Z which is the best chess engine in the world today you'd have to make a move so brilliant","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15728s"},{"start_seconds":15736,"text":"as to defy all expectations such AI research shows that human intelligence is one part","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15736s"},{"start_seconds":15744,"text":"computational brute force and another part more creative","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15744s"},{"start_seconds":15755,"text":"intangible so AI or the designers and developers uh developers of AI value","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15755s"},{"start_seconds":15762,"text":"surprises that is when you've taught it something in financial terms this is an","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15762s"},{"start_seconds":15769,"text":"Arbitrage of intellectual Capital so at the moment we have this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15769s"},{"start_seconds":15777,"text":"opportunity to trade our human skills and knowledge for money the AI wants our knowledge it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15777s"},{"start_seconds":15785,"text":"wants our information knowledge maybe eventually wisdom and of course we want","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15785s"},{"start_seconds":15795,"text":"money and note that this is already happening this is a picture of a Mechanical Turk which is an automaton","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15795s"},{"start_seconds":15804,"text":"chess player which was invented in 1770 as you can see there's actually a human being inside the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15804s"},{"start_seconds":15811,"text":"box masquerading as the robot but the Mechanical Turk is the namesake of Amazon web services","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15811s"},{"start_seconds":15820,"text":"crowdsourcing platform and AWS has created new labor markets to monetize the human skills and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15820s"},{"start_seconds":15828,"text":"knowledge necessary to develop AI models there are a lot of problems with Mechanical Turk not least of which which","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15828s"},{"start_seconds":15837,"text":"is the underpaying of the labor at the same time it's also been a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15837s"},{"start_seconds":15844,"text":"boon for various researchers academics can now uh perform studies with people all around the world they're","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15844s"},{"start_seconds":15851,"text":"no longer limited to the undergraduates in the universities that house their research labs and here's what Yan laon who won","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15851s"},{"start_seconds":15860,"text":"the touring award for his work on convolutional neural networks and computer vision has to say on the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15860s"},{"start_seconds":15867,"text":"subject he tweets human feedback for open-source large language models need","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15867s"},{"start_seconds":15873,"text":"to be crowdsourced Wikipedia Style and it's the only way for llms to become the repository of all knowledge and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15873s"},{"start_seconds":15882,"text":"cultures as we know today AI is centralized and biased towards the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15882s"},{"start_seconds":15888,"text":"English language and Silicon Valley so there's an imperative","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15888s"},{"start_seconds":15895,"text":"here at a global scale what we're seeing are gig and Creator economies On The Rise and this","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15895s"},{"start_seconds":15903,"text":"signals new ways for people to monetize their skills in the ongoing trend of digitizing real","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15903s"},{"start_seconds":15913,"text":"world assets you can think of chunks of human intellect taking on the form of these digital","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15913s"},{"start_seconds":15922,"text":"assets and so this a technological question what are the technologies that can be accessed on a global scale which","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15922s"},{"start_seconds":15931,"text":"are capable of transferring value between humans and and machine agents and I think you know where this is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15931s"},{"start_seconds":15940,"text":"going naturally this leads us to blockchain so blockchain is assumed to provide all of these different solutions","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15940s"},{"start_seconds":15948,"text":"to the world's problems many of which we found to have failed some of which have succeeded um but one thing that we know","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15948s"},{"start_seconds":15956,"text":"that it's good at and that it's endured is that it's good for making markets and in this case the markets are for Global","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15956s"},{"start_seconds":15965,"text":"intelligence so if you look at these first drafts of regulations being proposed by governments around the world regarding","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15965s"},{"start_seconds":15973,"text":"AI there are mandates for data privacy there are mandates for safety mechanisms and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15973s"},{"start_seconds":15981,"text":"risk uh if we look to blockchain of course there is the need for those principles that make human collaboration","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15981s"},{"start_seconds":15989,"text":"and compet uh competition fair and transparent and they must be reflected in the mechanics of the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15989s"},{"start_seconds":15996,"text":"game and of course the technology needs to be efficient because it needs to address the problem of underpaying humans for completing these human","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=15996s"},{"start_seconds":16004,"text":"intelligence tasks so here is an idea graph hopefully","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16004s"},{"start_seconds":16012,"text":"that can start to illustrate what this Market looks like so the market for crowdsourced human intelligence is two-sided on one side we have the task","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16012s"},{"start_seconds":16020,"text":"providers these would be AI companies they have provisioned a bunch of data they need them to be annotated with the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16020s"},{"start_seconds":16028,"text":"knowledge of humans and of course they're depositing some money to compensate the workers who will be performing this work and on the other","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16028s"},{"start_seconds":16037,"text":"side we have the workers they come from all around the world they span demographics uh one interesting case is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16037s"},{"start_seconds":16045,"text":"that you have retirees who take this uh kind of work because their benefits don't cover their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16045s"},{"start_seconds":16054,"text":"cost of living in in the later part of their lives and from the perspective of Game","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16054s"},{"start_seconds":16063,"text":"Theory both sides will attempt to pull the rug from under each other a worker could produce junk yet feel entitled to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16063s"},{"start_seconds":16072,"text":"earnings and a task provider could receive quality work but withhold pay by claiming the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16072s"},{"start_seconds":16079,"text":"opposite so each side will devise strategies that the others can't thwart and this is known as the mini Max","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16079s"},{"start_seconds":16087,"text":"principle and what these uh technologies that we build these decentralized Technologies do is that they keep asymmetries of power in check it's the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16087s"},{"start_seconds":16096,"text":"goal of the mechanism design and so what here what we're trying to show is that work will be assigned by the provider to the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16096s"},{"start_seconds":16105,"text":"workers based on an evaluation of their competency or they can hand select them um this is basically a security question","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16105s"},{"start_seconds":16114,"text":"what kind of proofs do you need to create this contract of employment between two parties you could do proof","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16114s"},{"start_seconds":16121,"text":"of authority where you have one uh entity handpicking people but as the industry shows this is an onerous","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16121s"},{"start_seconds":16129,"text":"process it's costly um you can do something like proof of stake where people stake capital in order to have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16129s"},{"start_seconds":16137,"text":"stake in the game but given the demographics these people don't have money to stake they're making this money","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16137s"},{"start_seconds":16143,"text":"to uh make a living so the work must be submitted without cheating and in turn it must be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16143s"},{"start_seconds":16152,"text":"evaluated fairly and be compensated for so there's an interdependence for the system to work properly you have to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16152s"},{"start_seconds":16159,"text":"reform What's called the central inspection principle this is the idea by Samuel benam um that talks about how you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16159s"},{"start_seconds":16167,"text":"can efficiently manage uh a large number of people with few supervisors and you ALS also need to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16167s"},{"start_seconds":16176,"text":"maintain civil resistance a concept we know very well in blockchain uh so that workers can't spoof the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16176s"},{"start_seconds":16183,"text":"platform so this is Loosely analogous to a proof of work uh model where the work performed well translates to earning","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16183s"},{"start_seconds":16192,"text":"reputation which leads to accessing further opportunities and we can commit these proofs of work and start to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16192s"},{"start_seconds":16200,"text":"measure reputation on the chains and so here's just a video animating the distribution of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16200s"},{"start_seconds":16209,"text":"tasks t uh workers working those tasks submitting them to the market and eventually they","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16209s"},{"start_seconds":16217,"text":"get paid once you start connecting these markets you can start to share reputation inherit them markets","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16217s"},{"start_seconds":16225,"text":"can begin to talk to each other tasks can con converge you have all of these different uh Market Mechanics for across the across the two","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16225s"},{"start_seconds":16234,"text":"sides so we've had crowdsource knowledge for decades and what we're doing at near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16234s"},{"start_seconds":16241,"text":"tasks is an iteration of existing ideas but in a trustless and permissionless context of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16241s"},{"start_seconds":16251,"text":"blockchain so economies will be predicated on the potential and the capacity of both humans and machines to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16251s"},{"start_seconds":16258,"text":"learn and our mission is to make them inclusive and fair markets and soon enough intelligence of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16258s"},{"start_seconds":16266,"text":"all kinds will be exchanging value and it's for the purpose of iteratively enhancing themselves whether that's a human or whether it's a machine to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16266s"},{"start_seconds":16274,"text":"improve oneself or whether the relationships are human to machine or machine to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16274s"},{"start_seconds":16282,"text":"machine and not to spat out some Doom porn but many economic experts are making some scary predictions uh in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16282s"},{"start_seconds":16290,"text":"not too distant future about economic and financial crises and one would hope that the goal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16290s"},{"start_seconds":16297,"text":"of these globally impactful exponential Technologies like Ai and blockchain is to soften the blow of any of these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16297s"},{"start_seconds":16305,"text":"future crises and they do so by better establishing societal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16305s"},{"start_seconds":16312,"text":"trust so in conclusion I hope that together we can grow and invest in our humanness thank you very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16312s"},{"start_seconds":16324,"text":"much","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16324s"},{"start_seconds":16331,"text":"let's go all right okay we're working um listen I've been told by uh the boss um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16331s"},{"start_seconds":16339,"text":"not that boss a different boss that you have to get off your seats and scan the QR codes and you can claim some Enon I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16339s"},{"start_seconds":16345,"text":"know there is swag left there's some super cool newwork uh near Week t-shirts that they' thrown in the store if you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16345s"},{"start_seconds":16352,"text":"haven't yet checked out the uh mint bear auction with the uh Mr Brown physical","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16352s"},{"start_seconds":16359,"text":"art piece it's absolutely incredible it would look good on anybody's office wall uh also great as a gift it's Christmas","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16359s"},{"start_seconds":16366,"text":"time soon um so go ahead and scan that we're going to give you a little bit of time until we introduce the next speaker","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16366s"},{"start_seconds":16374,"text":"uh in the meantime uh it's really important for me to reiterate that this is the AI track this is the part that you've all been waiting for we do have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16374s"},{"start_seconds":16383,"text":"some neara Legends on the stage we have both of the co-founders coming up that is Ilia and Alex and they're going to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16383s"},{"start_seconds":16391,"text":"drop some Alpha like you've never seen before so if you're ready for that give us one big round of applause while I introduce your next","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16391s"},{"start_seconds":16399,"text":"speaker NJ pan give it up for","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16399s"},{"start_seconds":16412,"text":"n hello everyone can everyone hear me me great so today I'm going to be","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16412s"},{"start_seconds":16421,"text":"talking about AI crypto as as uh was said and um I'm going to do a little bit of a you know 30,000 ft out view of why","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16421s"},{"start_seconds":16430,"text":"is this space interesting and um kind of take it from first principles you know what are the things to be looking at in this in this um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16430s"},{"start_seconds":16438,"text":"category so what's the motivation what we have today is is this you know massive","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16438s"},{"start_seconds":16446,"text":"usership in AI you trap GPT has hundreds of millions of users using it every week uh products are coming out left and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16446s"},{"start_seconds":16454,"text":"right and tons of money is entering the space people can't seem to get their hands on hardware and there we have a great","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16454s"},{"start_seconds":16463,"text":"backdrop for a very very exciting new technology and new products but what are the problems","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16463s"},{"start_seconds":16472,"text":"there's a lot of problems evident today with AI the first is that the infrastructure","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16472s"},{"start_seconds":16479,"text":"is highly centralized model storage model ownership and governance is all stored on Central","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16479s"},{"start_seconds":16487,"text":"servers and uh places that can be you know taken down computation on models is also centralized they're behind big","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16487s"},{"start_seconds":16495,"text":"public clouds and and big GPU Services access to training data and uh most models are also censored you if you try any of the even","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16495s"},{"start_seconds":16504,"text":"the open source models they're highly censored and it's become this cat and mouse game to try to get you know deep interesting information out of these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16504s"},{"start_seconds":16513,"text":"these models this infrastructure is also highly permissioned there's high cost to using and improving","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16513s"},{"start_seconds":16521,"text":"AI it takes advantage or it's advantaged by centralized players it's uh these things are are very expensive to train and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16521s"},{"start_seconds":16530,"text":"operate they also have centralized permission apis to access anything so again it's another Gateway for you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16530s"},{"start_seconds":16537,"text":"accessing these AI models then finally these systems don't provide you any privacy any","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16537s"},{"start_seconds":16545,"text":"computational integrity and any censorship resistance so this creates a good backdrop for where I think crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16545s"},{"start_seconds":16551,"text":"can have an interesting place for AI then finally governments incumbents large corporations are attempting to now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16551s"},{"start_seconds":16561,"text":"regulate the space to try to cut out any new players to from entering the space and um I I think it kind of goes from a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16561s"},{"start_seconds":16569,"text":"philosophical point to show you know they're kind of trying to attempt to say you know we know what's in your best interest but I think people know what's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16569s"},{"start_seconds":16577,"text":"in their best interest the future impact here is really","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16577s"},{"start_seconds":16584,"text":"large with enough data you can replicate anyone virtually or physically you can have a politician say what they want to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16584s"},{"start_seconds":16592,"text":"say have your favorite actor or movie star write what they want to write and it's believable by a lot of people so this will lead to a lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16592s"},{"start_seconds":16600,"text":"scams increasingly as we become more digital and online it's another vector and entry point for these models to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16600s"},{"start_seconds":16607,"text":"become highly you know susceptible in the um in the world we have there's a really great","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16607s"},{"start_seconds":16615,"text":"potential uh to create highly engaging new forms of media and propaganda and chat the the 2024 us election ads are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16615s"},{"start_seconds":16624,"text":"already used us AI so we're already moving in this direction of AI starting to control these these forms of media which is really really","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16624s"},{"start_seconds":16632,"text":"big and so I think an important thing here is who's controlling the models who's controlling what goes into them who's controlling the governance aspect","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16632s"},{"start_seconds":16641,"text":"and who controls who builds the products on top um these are a couple slides or a couple images from a talk I really like","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16641s"},{"start_seconds":16650,"text":"called the AI dilemma they basically talk about social media was this great you know web 2 Innovation allows anyone","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16650s"},{"start_seconds":16657,"text":"to publish create all these great things you can connect to your friends you can talk to people you can get jobs but it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16657s"},{"start_seconds":16665,"text":"also created all these bad things you know everything from information overload to you know these these highly addictive online","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16665s"},{"start_seconds":16673,"text":"platforms today AI has a lot of great promises but it also has a lot of potential issues everything from creating highly","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16673s"},{"start_seconds":16683,"text":"engaging fake robotic uh characters and chats that that engage people to building new types of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16683s"},{"start_seconds":16691,"text":"scams and so with all of this it's kind of a scary picture I think crypto is the thing that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16691s"},{"start_seconds":16699,"text":"will help solve a lot of these issues and and really create the AI future that we want AI is this highly centralizing","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16699s"},{"start_seconds":16708,"text":"technology it takes advantage of large swats of data collected into these big models and they're they're improved from","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16708s"},{"start_seconds":16716,"text":"that standpoint crypto is this highly decentralizing technology it brings power back to the people and it allows","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16716s"},{"start_seconds":16723,"text":"people to have sovereignty over their information their data and how they transact and so the obvious thing is to combine these","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16723s"},{"start_seconds":16732,"text":"two things combine this power of intelligence with this trustless you get from crypto crypto","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16732s"},{"start_seconds":16741,"text":"aai at least the aim is to go from won't be evil to can't be evil and not allowing big corporations or governments","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16741s"},{"start_seconds":16750,"text":"or really anyone tell you what to do and and how to transact if we've already decentralized money and music and property records and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16750s"},{"start_seconds":16759,"text":"compute why not AI so this is how I think about the AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16759s"},{"start_seconds":16767,"text":"stack and this is something that um we've kind of stolen from Ilia and credit to him in this this mental framing at at the bottom right we have","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16767s"},{"start_seconds":16777,"text":"compute so everything from verifiable inference to training privacy of user data and censorship resistance all","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16777s"},{"start_seconds":16786,"text":"through cryptography and Game Theory on top of that is the models the things that are actually being used and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16786s"},{"start_seconds":16793,"text":"interacted with by the end applications on top of this is the data what are the things that are actually","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16793s"},{"start_seconds":16801,"text":"feeding the models and and trying to make these things open and then finally are the applications on top what are the things people are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16801s"},{"start_seconds":16809,"text":"building on top of these models alongside the left here is is governance which","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16809s"},{"start_seconds":16816,"text":"is all of these pieces of the stack have an element of governance and crypto governance is a really great way to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16816s"},{"start_seconds":16824,"text":"manage you know how should a a certain AI model you know be steered how should interact with people and and things of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16824s"},{"start_seconds":16832,"text":"that nature so a big question is uh what are the use","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16832s"},{"start_seconds":16839,"text":"cases and I think a really good interesting mental framing is to say AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16839s"},{"start_seconds":16846,"text":"is really good at finding information or creating information creating properties of programs that were not explicitly","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16846s"},{"start_seconds":16853,"text":"programmed if you take a swath of data and it gathers you some insights on it how are ways we can apply that in the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16853s"},{"start_seconds":16861,"text":"crypto world that would be interesting one is very simple so it's validity safety privacy being able to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16861s"},{"start_seconds":16869,"text":"interact with an llm or diffusion model in a way that's private or is um you know keeping your data Sovereign uh is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16869s"},{"start_seconds":16877,"text":"already a great start and as we go down there are examples in every subcategory within defi you can build automated LP","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16877s"},{"start_seconds":16886,"text":"strategies that are run by you know by an AI model you can build new ways to parameterize risk and to adjust say the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16886s"},{"start_seconds":16894,"text":"interest rate St parameters in a in a lending protocol in nfts uh it's things like appraisal","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16894s"},{"start_seconds":16902,"text":"improving and kind of enhancing the interactivity of the nft in gaming it's building autonomous","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16902s"},{"start_seconds":16909,"text":"worlds it's building personalized experiences allowing games to take your information and improve how the game is","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16909s"},{"start_seconds":16917,"text":"actually done within social building trustless recommendation systems ways to recontextualize","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16917s"},{"start_seconds":16925,"text":"information imagine if your favorite author or your favorite writer you know you don't like the writing style but you like their content you can take their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16925s"},{"start_seconds":16933,"text":"content and have it Rec contextualize to you in a way that might be better for you maybe it's simpler language maybe it's in the form of you know Hemingway","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16933s"},{"start_seconds":16942,"text":"or or really anything like that you know the world is your oyster and finally governance being able to have Dows build automated governance","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16942s"},{"start_seconds":16951,"text":"proposals which today is a highly human you know human focused human intensive task and very laborious and as the Dow","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16951s"},{"start_seconds":16960,"text":"space grows it's going to be difficult to keep up with the number of humans that are needed to staff Dows we should let AI help what we're doing with","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16960s"},{"start_seconds":16969,"text":"governance and this is just the beginning there are many many many more applications I think my slider was cut","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16969s"},{"start_seconds":16978,"text":"off but um one one other example it's kind of an interesting sci-fi example is imagine you can take a human language","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16978s"},{"start_seconds":16985,"text":"intent you driven by an llm and and then turn it into you know self- assembling smart contracts so an example would be I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16985s"},{"start_seconds":16994,"text":"could type into a chat bot and say you know I want you to build me synthetic 2x levered exposure to Apple with with near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=16994s"},{"start_seconds":17002,"text":"tokens as collateral normally that would take five or 10 steps the synthetic exposure might be in a different","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17002s"},{"start_seconds":17009,"text":"protocol the Apple might be in a different protocol near on a on a different you know different protocol and so what if you could have an llm","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17009s"},{"start_seconds":17017,"text":"that generates these inputs feeds them through one of these new intent protocols and then self assembles the smart contracts and generates you that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17017s"},{"start_seconds":17025,"text":"payoff all autonomously the future of Finance you know really can be driven by by","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17025s"},{"start_seconds":17033,"text":"AI so for those in the audience that are interested in building in this space outside of the use cases that I mentioned there's also a lot of really interesting research directions to to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17033s"},{"start_seconds":17042,"text":"think about one is how how do we do proofs of validity how do we prove that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17042s"},{"start_seconds":17048,"text":"the compute done for a model was done correctly there are there's a a sub sector of the space called zkl that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17048s"},{"start_seconds":17056,"text":"quite popular and there's also a lot of interesting teams building in the optimistic proof side of the space","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17056s"},{"start_seconds":17063,"text":"decentralized training how can we build these these trustless training mechanisms and create you know the foundation models of tomorrow and build","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17063s"},{"start_seconds":17072,"text":"transparent Foundation models AI model governance how do we govern how an AI interacts with a human and how it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17072s"},{"start_seconds":17080,"text":"should behave you know for a specific human and their preferences and then finally privacy in","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17080s"},{"start_seconds":17088,"text":"AI ZK proofs only go so far you know can really only prove information you know prove uh things about local","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17088s"},{"start_seconds":17096,"text":"information um so we'd have to look to the the next generation of Technologies fhe trust execution environments and and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17096s"},{"start_seconds":17103,"text":"maybe MPC te so I didn't talk much about what what we're doing uh ritual is the company","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17103s"},{"start_seconds":17111,"text":"that I'm working on and the first product we came out with yesterday is called infernet uh it sort of comes from","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17111s"},{"start_seconds":17119,"text":"from the term inference so infernet is an SDK that allows any smart contract developer to use an AI model in their","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17119s"},{"start_seconds":17127,"text":"smart contract there's a bit of an outline here showing how that actually works but the end goal here is to make it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17127s"},{"start_seconds":17135,"text":"extremely simple for people to use or build any of those applications I talked about just a few slides","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17135s"},{"start_seconds":17145,"text":"ago and that's it for more information it's my email uh my Twitter and then the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17145s"},{"start_seconds":17153,"text":"Twitter handle of our company thank you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17153s"},{"start_seconds":17163,"text":"all um QR code scan it if you don't scan it or get in trouble you can scan it you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17163s"},{"start_seconds":17170,"text":"can get yourself some treats you can get yourself an extra lunch tomorrow you can earn neon or Encon and you can uh earn","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17170s"},{"start_seconds":17178,"text":"send and spend all around the conference now our next speaker is a brilliant mind he is one of the original co-founders of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17178s"},{"start_seconds":17187,"text":"Nia uh but we're going to have them both on stage today separately so how can you tell which one he is Alex kind of has","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17187s"},{"start_seconds":17195,"text":"hair like like this and uh il's hair is a bit more like like this well Ilia is here um so you're not going to get them","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17195s"},{"start_seconds":17203,"text":"mixed up um I'm going to give you a few more seconds to scan that incredible QR code and grab your en con um and I am","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17203s"},{"start_seconds":17210,"text":"about to announce to the stage for the first time at neon 2023 Alexander","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17210s"},{"start_seconds":17223,"text":"skidanov","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17223s"},{"start_seconds":17228,"text":"hi everyone uh I'll talk today a little bit about uh Ai and open web and uh other","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17228s"},{"start_seconds":17237,"text":"nice hypy words um uh I had a particular thing I wanted to talk about uh I will still talk about","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17237s"},{"start_seconds":17245,"text":"it later today uh but as I came to the conference and I was roaming around the tables and observing what people are doing uh I noticed that a lot lot of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17245s"},{"start_seconds":17254,"text":"things that I thought are yet to happen already happening so I just wanted to highlight what already exists today what","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17254s"},{"start_seconds":17261,"text":"you can do um with what uh is available uh one thing and I think many of you who","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17261s"},{"start_seconds":17268,"text":"played with chat GPT at all have already done that but I still I cannot stop being mindblown by uh how much you can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17268s"},{"start_seconds":17276,"text":"do with just a s SLE sing Single prompt um that is something that happened yesterday uh when","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17276s"},{"start_seconds":17285,"text":"uh Eugene he just typed a prompt to make a website pasted it ver but him into a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17285s"},{"start_seconds":17293,"text":"uh near social component and Bam it just works right so prototyping today already is possible without having any without","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17293s"},{"start_seconds":17303,"text":"having to write a single line of code it will just it will just work um another another example uh I I I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17303s"},{"start_seconds":17311,"text":"unfortunately didn't hear the previous talk I had to be there uh but I hope you you guys are all excited about uh uh verifiable decentralized inference now","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17311s"},{"start_seconds":17320,"text":"uh decentralized inference will enable eventually uh decentralized agents that make decisions for us uh that's","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17320s"},{"start_seconds":17328,"text":"something that IIA will be talking right after me uh but something at a much smaller level is possible already today and uh what happens right now at a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17328s"},{"start_seconds":17337,"text":"hackathon is that one of the projects that people work on uh is running an agent uh in an s GX Enclave uh and then","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17337s"},{"start_seconds":17347,"text":"you that agent can commit to something and then you can verify it on the blockchain right and so now you can have something simple as a uh decentralized","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17347s"},{"start_seconds":17356,"text":"autonomous organization funding decisions to be running by a model uh and the blockchain can already verify it you probably don't want to do it today","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17356s"},{"start_seconds":17364,"text":"uh with prompt injection and whatnot uh but uh as models get a little bit better um uh there's already something we can","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17364s"},{"start_seconds":17372,"text":"use you know month or maybe years ahead of uh inferences um production","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17372s"},{"start_seconds":17379,"text":"ready uh finally uh I think one beauty of the blockchain is that uh first of all it's close to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17379s"},{"start_seconds":17389,"text":"where your money is uh it's close to where your data is you want your data to be encrypted uh and private uh but still","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17389s"},{"start_seconds":17397,"text":"used by many applications this is something that is uh what is being built in uh blockchain operating system","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17397s"},{"start_seconds":17405,"text":"uh and integrating that into uh agents uh to have sort","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17405s"},{"start_seconds":17412,"text":"of um all-encompassing uh single entry for everything you do uh is something that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17412s"},{"start_seconds":17418,"text":"is very exciting um right so uh chat GPT and uh length chains and other","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17418s"},{"start_seconds":17425,"text":"Technologies already support fully um function calls emitting Json Etc so","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17425s"},{"start_seconds":17432,"text":"integrating that with the blockchain operating system will enable you to have to make decisions based on your private","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17432s"},{"start_seconds":17439,"text":"data uh real time without without having the data uh given out to third","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17439s"},{"start_seconds":17446,"text":"parties uh that that per se does not exist yet uh but we are on the on the path there uh if you want to play with something that that is very close to uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17446s"},{"start_seconds":17455,"text":"to that Vision uh check out a AI atmin based. XYZ uh Nate unfortunately couldn't demo it yesterday because chat","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17455s"},{"start_seconds":17464,"text":"GPT was down and when when their AI is down our AI is down but uh it is life","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17464s"},{"start_seconds":17471,"text":"right now so make sure to check it out so that exists today uh and the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17471s"},{"start_seconds":17478,"text":"question is what do we need what else do we need to do to do today so that a year from now two years from now we are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17478s"},{"start_seconds":17486,"text":"relevant uh and we are ahead of everybody else uh in the in the universe in which generative AI becomes the def","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17486s"},{"start_seconds":17493,"text":"fact way of um of things operating and I think one thing that excites me a lot uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17493s"},{"start_seconds":17502,"text":"is having uh having agents building or assisting I said building applications","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17502s"},{"start_seconds":17510,"text":"end to end and as you saw on on my very first slide you can already do simple prototypes that already works if you try","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17510s"},{"start_seconds":17518,"text":"to do anything more involved uh it starts glitching right if you try to if you try to use a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17518s"},{"start_seconds":17525,"text":"modern uh large language model to create anything of sophistication higher than a simple prototype it will have a couple","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17525s"},{"start_seconds":17532,"text":"of mistakes usually as a human you would be able to fix them it is still faster in many cases to to go through the uh machine learning model to write","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17532s"},{"start_seconds":17541,"text":"the first version of the code and fix it especially if you're not familiar with the apis but if you want to build an end to end application it takes multiple steps it takes 20 steps to get there if","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17541s"},{"start_seconds":17550,"text":"there's a 10% chance of making a mistake on every step the probability of getting to a correct application is um","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17550s"},{"start_seconds":17556,"text":"10% uh that is not uh a desirable probability and something we are","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17556s"},{"start_seconds":17563,"text":"investing heavily in right now um if you've seen my presentation last year uh one thing that we've been doing on near","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17563s"},{"start_seconds":17570,"text":"since 2021 early 2021 is investing heavily into building a large scale decentralized dat annotation platforms","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17570s"},{"start_seconds":17579,"text":"uh so near tasks I think they've they've been presenting on this stage today uh that is a that is a company that is productizing all the efforts we've had","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17579s"},{"start_seconds":17586,"text":"before uh and we uh we plan to invest heavily into capturing into annotating a massive Set uh of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17586s"},{"start_seconds":17595,"text":"uh uh endtoend applications built on near components uh built for blockchain operating system capturing not just the final component because when you look at","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17595s"},{"start_seconds":17603,"text":"the final component you don't see what's been happening in the head of the person right when you look at the code on GitHub uh it's it's nice to see the code","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17603s"},{"start_seconds":17611,"text":"but but in order for you to reproduce it you need to to know what what was happening in the head of the developer and so we plan to capture all the every single step of every single","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17611s"},{"start_seconds":17620,"text":"thought the developer has had uh and by the time that the models are good enough uh which will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17620s"},{"start_seconds":17626,"text":"happen very quickly right we we are uh at the very early steps at the very very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17626s"},{"start_seconds":17634,"text":"early beginnings of uh of of what is yet to come when when they are good enough we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17634s"},{"start_seconds":17641,"text":"will have um the data uh uh to be able to train something that will'll be building or will be assisting","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17641s"},{"start_seconds":17649,"text":"at least people at building applications end to endend uh that will be a massive competitive Advantage so that's something that is being being worked on","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17649s"},{"start_seconds":17656,"text":"right now uh so uh and uh I guess one beautiful part of that is that when you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17656s"},{"start_seconds":17663,"text":"build when you build a uh if you ever if you ever built a component for blockchain operating system or if you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17663s"},{"start_seconds":17670,"text":"ever observe the person doing that you would notice how how how quickly people who who know the ecosystem well enough can compose something relatively","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17670s"},{"start_seconds":17678,"text":"sophisticated by just uh picking up uh existing components putting them together and running them it's it's very","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17678s"},{"start_seconds":17686,"text":"interesting to observe how people can build something um especially during the NDC election people were building some very nice widgets very quickly uh out of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17686s"},{"start_seconds":17695,"text":"what exists that is something that doesn't navely work with existing U apis because you need to you need to have you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17695s"},{"start_seconds":17702,"text":"need to have an ability to search through the components index them Etc so all of that can be captured uh and will","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17702s"},{"start_seconds":17710,"text":"enable people to to fully Leverage The the existing ecosystem","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17710s"},{"start_seconds":17718,"text":"um um maybe in a year or shortly after so so that's something uh that excites me a lot I think that is something that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17718s"},{"start_seconds":17726,"text":"will position near to be much uh better prepared for the Advent of uh of generi","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17726s"},{"start_seconds":17734,"text":"uh so hopefully you guys are also excited uh let's uh let's see it","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17734s"},{"start_seconds":17748,"text":"happen I'm going to annoy you with this but it's going to be worth it so if you want to claim your Encon get up scan the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17748s"},{"start_seconds":17756,"text":"QR code um press the link and it will be sent directly to your Encon wallet where you cany buy all of the wonderful swag","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17756s"},{"start_seconds":17765,"text":"in the swag store you can get some uh delicious food and you can uh engage with the whole Encon app experience so I","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17765s"},{"start_seconds":17773,"text":"hope you enjoyed that just as much as I did am I on am I on the big screen can you Zo can you can you zoom in can you zoom in really close to my face for the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17773s"},{"start_seconds":17782,"text":"announcement whenever whenever we get the screens back on I think that it's going to work for the bit um but this next man has uh treaded the boards a few","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17782s"},{"start_seconds":17791,"text":"times um he is is uh one of the people responsible for putting the T in chat GPT um and if we're not going to get the","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17791s"},{"start_seconds":17799,"text":"screens on I'm going to introduce them anyway because I know that I personally cannot wait to see everything that he says so do put your hands together and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17799s"},{"start_seconds":17808,"text":"give a big round of applause for ilot","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17808s"},{"start_seconds":17818,"text":"pokin hello everyone great to be here on the second day it's been amazing conference right all right at least you're not","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17818s"},{"start_seconds":17827,"text":"asleep so that's good all right so we've heard a bunch about uh AI in web 3 and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17827s"},{"start_seconds":17835,"text":"uh I want to kind of glean a little bit forward Beyond what's already here we've heard a little bit from Alex on what you","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17835s"},{"start_seconds":17843,"text":"can do on the developer side what you can do on product side um but I want to talk about the kind of the future of","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17843s"},{"start_seconds":17849,"text":"work and governance uh leveraging AI","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17849s"},{"start_seconds":17858,"text":"so for those who are not familiar I worked on in machine learning space for about 10 years before getting into","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17858s"},{"start_seconds":17866,"text":"blockchain and web 3 I worked at Google research where I worked across kind of open source project called tensorflow","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17866s"},{"start_seconds":17873,"text":"machine learning framework as well as uh on research for natural language understanding and if you used Google","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17873s"},{"start_seconds":17880,"text":"before especially before like 2000 19 the models were built were serving kind of short answers there and I end up","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17880s"},{"start_seconds":17890,"text":"kind of through the work we were doing because it was actually very non-performing the models we were using at the time uh kind of together with a","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17890s"},{"start_seconds":17899,"text":"group of researchers working on attention all need the paper that introduced Transformers and kind of kickstarted some of the Revolution uh","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17899s"},{"start_seconds":17908,"text":"that we see in today I always believe in the idea that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17908s"},{"start_seconds":17914,"text":"AI can become a huge driver for productivity as well as uh a tool that","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17914s"},{"start_seconds":17922,"text":"kind of changes how Computing is done and so with Alex we started near in 2017 as AI startup we're teaching machines to","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17922s"},{"start_seconds":17930,"text":"code and we were trying to kind of Leap Frog what we seen today back in 17 now we did not have open Money uh so we","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17930s"},{"start_seconds":17940,"text":"ended up uh kind of getting into blockchain through needing ourselves to pay people around the world and","url":"https://www.youtube.com/watch?v=-dykaLrj8Bo&t=17940s"}],"youtube_url":"https://youtube.com/watch?v=-dykaLrj8Bo","url":"https://near-pedia.xyz/videos/-dykaLrj8Bo"}