{"id":"CFAYKjEiPjg","title":"Layer 1 Stage | Closed vs. Open: The Case for an Open Web","description":"Closed vs. Open: The Case for an Open Web, presented by Chris Donovan of NEAR Foundation, at NEARCON 2023\n\nChris Donovan unravels the key principles underpinning the open web philosophy and explores how openness fosters innovation, inclusivity, and transparency. Gain valuable insights into the NEAR Foundation's vision for an open, decentralized internet, and the transformative potential it holds for individuals and communities worldwide.\n\n\n\nJoin NEAR's community:\nWebsite: https://near.org/\nReddit:   / nearprotocol  \nDiscord: https://near.chat/\nMedium:   / nearprotocol  \nBlog: https://near.org/blog/\nTwitter:   / nearprotocol  \nGitHub: https://github.com/near  https://github.com/nearprotocol\nDev Docs: https://docs.near.org/\nCreate a wallet: https://wallet.near.org/create\nApps on NEAR: https://awesomenear.com/\nLearn to Build On NEAR: https://www.near.university/\nGrants & Funding: https://near.org/grants/\n#Blockchain #FutureisNEAR #NEAR #nearprotocol\n#nft #dao","channel_name":"NEAR Protocol","published_at":"2023-11-22T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/CFAYKjEiPjg/hqdefault.jpg","transcript_text":"wow look at everybody stacking that en con woo all right well look they even gave me a Podium um so with that we've got a very exciting keynote speech coming ahead Chris Donovan Chief Operating Officer of the New Foundation will be presenting Clos versus open the case for an open web so please stack up that Encon and give it up for Chris Donovan ladies and gentlemen all right hi everybody how are we all doing enjoying neon so far I hope so I'm super excited to be up here today and thank you all for taking taking the time out of your very busy schedules and know we're all very busy in web 3 to be here with us at ncon 2023 now for those of you who don't know me my name is Chris Donovan I am the COO at the near foundation and what I wanted to do today is to briefly make the case for an open web and why I think it is so vital today and also so urgently needed so the current web Paradigm we have today right it has revolutionized and it now dominates pretty much every single aspect of Our Lives from our social and financial activities how we travel and work to how we communicate and even just consume information particularly news and the power of these systems is unquestionable right and their influence is ubiquitous it's everywhere and of course with the recent remarkable advances in Ai and and actually built in part on the the great work of our esteem co-founder and CEO Ilia the power and ubiquity of these systems is only set to increase further but there's a problem a big problem in fact in my view and that despite all of these successes and the amazing things that this technology enables us all to do the current web Paradigm is fundamentally broken and why is that because today the web is closed it's built on closed permission systems and infrastructure and these systems have the effect of concentrating power and wealth data and governance in the hands of a very small number of people the controllers and operators of these platforms and we we as users we are the product and privacy is eroded and inequality grows so that's why the creation of an open web right which is what we're all here to do it has always been the near ecosystems North Star but what do we mean by open web right it's a term that gets thrown around a lot so let's try and let's try and break it down so in our view an open web is built on permissionless autonomous systems and infrastructure right without controllers or Gatekeepers of any kind where anyone anywhere can access and use these systems to create participate and be fairly rewarded for their ideas and effort and by extension and to me most importantly of all this type of infrastructure can actually create guarantees for privacy for data ownership and portability and censorship resistance amongst a whole bunch of other things right and in this digital age these qualities they are fundamental human rights now having said all of that I actually want to dive more into why we need an open web and I think to better understand that question let's come back to the current Paradigm for a minute let's think about the closed web sometimes also called Web 2 and I mentioned earlier that despite all of the great progress the current closed Paradigm is datally flawed because it's built on these closed permissioned systems and actually this has a bunch of quite negative and very impactful consequences that are really important for us to recognize so let's think about a few of those Gatekeepers as we all know the operators of these systems right they can control the rules of the game right how these platforms operate who can have access to them and of course they can also arbit trarily change the rules of the game whenever they like and these Ward Gardens that they create in order for users and developers and Founders to get access to them they're typically required to give up something usually it's their privacy it's also usually their data ownership and sometimes a bunch of other stuff as well and of course these issues when it comes to Gatekeepers it's not just a purely online phenomenon right if if we consider things like the traditional Financial system for example you know that of course is something that has been operated on a permissioned gate kept closed basis for its entire history right and we've seen that accessibility and equality suffers as a result of that there's also extraction that happens with these Web Two Services right many of them as we know their build is free isn't that fantastic but actually they demand tradeoffs and sacrifices that users developers and Founders are just often not aware of or they might not fully understand because there's no transparency but actually they have no choice but to accept because they want to use these Services they want access to these goods and these products but that means that actually these Services they're not free right again in this world we are the product and we give up a huge amount of value when we enter into that bargain one of the biggest things that we do actually is we give up our ability to truly own anything in the current digital Paradigm right at the moment in in the closed web 2 Paradigm it operates primarily on what's called a licensed based model so that means that you don't have true ownership of any of your digital lives all that you have is what's called a license this is like a bundle of contractual rights between you and the platform or the operator right and the platform operators typically would retain ownership and these licenses as as you guys may may know not that you've probably read through all of them you know they have reams of terms and conditions they're extremely dense they're hard to follow the terms can be changed at any time um and you know without notice as well so the things that you think you own and the things that you think are yours in this Paradigm they're not really and I think this is probably one of the biggest issues of all right so these systems are fundamentally built optimize two things pure attention and I'll come back to what I mean by that in a minute and profit and that is at our expense again as as the users of these of these services and of course like we mentioned the operators of these platforms they are continuously updating the rules of the game in order to maximize these two things attention and profit and they're getting really really good at that they they even understand how our brains work neurologically how we respond to stimula how they can make sure that they keep our eyeballs glued to these screens as much as possible and in fact they've become so good like I said that actually this closed web Paradigm it touches every aspect of our lives and the controllers and operators of these platforms they have become extraordinarily powerful and wealthy and have an inordinate amount of influence as a result and of course despite all the progress like I mentioned and despite the fact that you know this technology has unlocked a lot of wonderful things it is doing a huge amount of damage to us as individuals and actually also to the broader fabric of our societies so what I'd like to do now is go through a few examples of the negative impact of the open web right to try and provide a little bit more context because people often say to me they're like look Chris okay I understand all of that this is like the 100th time you've chewed my off about the open web but honestly I don't really see why I should care right I just want to be able to use seamless products and services I want them to be powerful I want them to be easy and also I kind of think I trust that you know insert name of random web to Tech Giant will will do right by me right I I guess I kind of trust them enough it doesn't really bother me so let's dive into some examples I think in practice to try and make the case as to why we should care about this stuff so let's start with Kindle eBooks right I'm sure a lot of people in the audience have got an Amazon Kindle I do too right now these ebooks that you buy on on the Amazon store right and they appear on your Kindle you don't actually own them right they are licensed content like we were talking about earlier so what does that mean in practice that means that these books can just disappear from your Kindle right no notice to you no warning nothing they can just disappear because for example Amazon might have changed its licensing policies or maybe Amazon is in a dispute with a writer or a publishing house because they I don't know they disagree with the political views or social views of a particular author for example right and even more sinisterly the content of these books can be changed unilaterally without notice right so you could go back to reread one of the favor your favorite paragraphs one of your favorite books and it could be different to the last time that you read it and you wouldn't even necessarily know data breaches and another big problem with this closed centralized Paradigm right is that these enormous organizations and platforms including both technological and traditional say like traditional financial institutions as we know they gather huge amounts of very sensitive personal data as part of how they police and gatekeep access to these goods and services right and this creates enormous data breach risks and actually between March 21 and February 22 there were over 42 million records exposed by data breaches which is enormous and and that's just the tip of the iceberg right you we see new new stories of of additional security lapses and breaches almost every single day it feels like and and these things seriously harm individuals right with identity theft and financial loss and all the rest but it can it can truly destroy people's lives and I'm also just on this topic going to take a very quick kind of sidebar right and just raised the topic of kyc AML and and sanctions checks which is a bit of a you know a bit of a boogeyman to the to the web through crypto Community right and by those by the way you know kyc is know your customer AML anti-money laundering and sanctions checks right and these are checks that that organizations do in order to verify the identity of your counterparty or maybe your customer right and the policy outcome of that process is to try and validate that your counterparty is legit legitimate and isn't a criminal trying to bring criminal proceeds um into the financial system and I think look that's a worthwhile an important policy outcome but of course the way that these processes are run at the moment is extraordinarily outdated and dangerous you have copies of passports and utility bills and bank statements flying around the internet and being stored very poorly and all that it does is expose users to risks privacy and security and I think you know one of the really important things to recognize is actually that in web 3 today we have technology to do this process better right things like zero knowledge proves where you can do these types of identity verifications without having to expose people's sensitive information and so that means you're getting not just the same policy outcomes but actually better ones right more enhanced protection not creating all of these risks another great example app stores right web to App Stores particularly the Apple Store Right famously High commission 30% so hard for projects even to get admitted right and of course Apple sets the rules of the game it decides which which apps which projects it wants to allow in it can arbitrarily change the rules and kick apps out you know we know metamask was was booted out for a brief period of time and then let back in a couple of weeks ago but I also you know the examples I just talked through they're quite specific right and I I wanted to take a step back and for us to think about the broader impact of this closed Paradigm right on on our society as a whole so for example right there are 1.7 billion adults are currently unbanked and as I said the traditional Financial system it is the Paragon of closed permissioned approach inequality continues to Grow Again underpinned by this closed permissioned approach and if you look at this and there's plenty of other data on this the concentration of wealth and the levels of wealth inequality are actually the highest that they have ever been in in the history of records that we have right the previous time that we were even close to this level was on the eve of World War I and we know what happened after that and lastly and maybe most importantly polarization right so we talked about how these permission systems you know they optimize for Pure attention and by pure attention I mean that these platforms they don't care what kind of attention it is they don't care if it's attention to truthful content right or credible content they don't care if it's high quality attention they just want eyeballs on screens and the result of that is that these systems intentionally or not they have the effect of enhancing the spread of misinformation and therefore increasing social and political polarization there's some great research on on this topic um that I'd recommend anyone with an interest in this to look at there's a great paper from MIT back in 2018 that analyzed how false and truthful news stories spread on Twitter right and this this data demonstrated that actually false news stories are 70% more likely to be retweeted than true stories which is crazy when you think about it right and it actually takes true stories six times as long to re to reach 1500 people as it does for false stories to reach the same number of people and that's that kind of blows my mind to be honest right that there is an inbuilt bias to falsehood and misinformation right and we see the impact and the outcome of that every single day and this is a great example right where the median Democrat and the median Republican have become more divided and more polarized than at any point again in in the history of of these records so needless to say right the world does feel like we're at a bit of an inflection point and maybe even a precipice of sorts across many different areas and many many different dimensions as well right and the closed permission Paradigm has intentionally or not been playing an enormous part in either causing or amplifying these issues and this is a pretty pretty bleak list here right political and social polarization erosion of trust in everything geopolitical instability Etc right it's it's it's not a nice it's not a nice read and the trouble is at the moment governments and big corporations you know the only Paradigm they know is this closed permission Paradigm so when they think about how to to try and meet and overcome all of these challenges that we were just talking about they only know one way to do that right the closed web way and so this typically results results in increased control additional permissions and increased centralization and of course that's just a negative feedback loop it just further enhances and amplif all of those issues that we were talking about and again right now the closed web like we said is extraordinarily dominant and the permission systems and infrastructure on which it relies extraordinarily dominant and actually set to become even more dominant right as AI is deployed in a closed web environment and this is happening right now and frankly the same should be said of blockchain right blockchain can exist in a lot of different ways both in an open and closed permissioned permissionless environment right so blockchain can be used to form the basis for example of a pervasive surveillance infrastructure right where every aspect of Our Lives is monitored and tracked maybe it's monitored and maintained by AI you know and that sounds a lot to me like a a dystopia right and I think that's a genuinely non-trivial possibility I agree this is all starting to sound a little bit Bleak right so what to do so right now it feels like you know the past state that we're in it doesn't feel sustainable right at least certainly not to me but looking forward there is a huge amount of optimism and promise but also we have similar risks and similar dangers but now we actually have the tools right in this room at this conference in this industry to do better and I actually think we have an obligation to do better in fact but we can we can with an open web right that is the corrective to all of these issues that we've just been talking through right and it's it's right here it's at our fingertips it's happening right now and as we said an open web it's built on permissionless autonomous systems so let's break down what we mean by those two terms right so starting with permissionless so by permissionless we mean that these systems can be used by anyone anywhere at any time right no one controls how they're accessed or used they operate on a peer-to-peer peerto system or system to system basis and that's it anyone can use them and by autonomous we mean that the operation of these systems is inter consistent and predefined by a set of rules that operate in the same way for everybody and those rules will continue to operate in the same way consistently without any influence by external third parties right and that quality this autonomous it enables censorship resistance which is vital but also true data ownership and portability like we were talking about earlier and again quick little sidebar thinking about true property ownership right and property rights in general they're very special and unique because unlike just about any other type of legal right a property right you can enforce against the entire world against anybody it's a very powerful thing right whereas contractual relationships licenses which are a form of contractual relationship usually you can only enforce those against your contractual counterparty right so they're nowhere near as meaningful they're nowhere near as powerful now the other great thing about these open permissionless systems right is that they can be designed to incentivize something other than pure attention or profit right and we can Implement them in a way that enables contributors and users to be fairly rewarded for the value and the effort that they put in but we also need to recognize and this is one of the biggest challenges I think that we've faced as an industry that we need to make sure that we give folks a reason to use this technology right we need to make the case effectively we need to match these Web Two services for convenience the user experience and for power I think we're making great strides towards doing that but I think it's pretty clear right that the essential component here that underpins this open web vision and this optimistic view of the future is permissionless autonomous infrastructure just like the near ecosystems open web stack now Ilia is going to be discussing this later so I'm not going to steal his Thunder I would not dream of doing that to IIA but what I will do instead is talk a little bit about how at the foundation we think about supporting an open web ecosystem right and you'll see here we think about three critical areas or buckets um that we think all need to be functioning in Harmony and sustainable for this ecosystem and for an open web to become a reality right so Founders assets and ecosystem so let's start with Founders right these are the brilliant entrepreneurs and and the Risk Takers that are helping us to build the open web right and revolutionizing how they offer products and services to their users and their customers right and it is their dedication it is their Brilliance and their hard work that is help helping to build the open web and actually solve real world problems like I said give people a reason to use this amazing technology and understand the value and the empowerment that it brings the second area is assets right we want Founders and and projects and Builders to come and generate new assets and new value in our ecosystem right and that will bring additional capital and additional backers and probably additional Founders and additional projects and users into the ecosystem right and this has the possibility of creating a a virtuous circle right that can enable Founders and Builders to create new projects and also to support the ongoing economic health and vibrancy of the ecosystem and and you know again without all of these three pieces working together we're not going to be successful so now coming lastly to the ecosystem and in some ways right this is what underpins everything else that we're that we're doing right because the ecosystem it includes that open web stack that IL is going to talk about more right the permissionless autonomous infrastructure that we absolutely have to have right that makes everything within an open web Paradigm possible but of course it also consists of everyone here in this room and everyone else across the ecosystem this amazing vibrant ecosystem that we have and all of these enormously talented Founders and and Builders you know leveraging that technology and making use of those assets and that value flowing into the ecosystem to build new projects to bring value to their uses and ultimately to build an open web and so the ecosystem is where all of this stuff comes together right and that is why the foundation's mission has always been to support the ongoing growth and development of an autonomous and decentralized near ecosystem and therefore by extension an open web and you know at the foundation we are unequivocally laser focused and committed to bringing our considerable resources to bear and support of this open web mission right and we believe that together all of us here in this room not just us at the foundation but as an ecosystem and frankly as an industry we have an opportunity to make this open web Vision a reality and like I said earlier this is not just an an opportunity right I think it's also an obligation that we have to do this right to make this a reality so look on that note I wanted to thank you for listening and I wanted to to ask you to join me to step into and to help build and support an open web at this near uh this year's neon so thank you very much everybody for listening","transcript_synced_at":"2026-11-03T06:18:33.251Z","segments":[{"start_seconds":4,"text":"wow look at everybody stacking that en con woo all right well look they even gave","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=4s"},{"start_seconds":11,"text":"me a Podium um so with that we've got a very exciting keynote","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=11s"},{"start_seconds":20,"text":"speech coming ahead Chris Donovan Chief Operating Officer of the New Foundation will be","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=20s"},{"start_seconds":26,"text":"presenting Clos versus open the case for an open web so please stack up that Encon and give it up for Chris Donovan","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=26s"},{"start_seconds":35,"text":"ladies and gentlemen all","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=35s"},{"start_seconds":44,"text":"right hi everybody how are we all doing enjoying neon so far I","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=44s"},{"start_seconds":52,"text":"hope so I'm super excited to be up here today and thank you all for taking taking the time out of your very busy","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=52s"},{"start_seconds":61,"text":"schedules and know we're all very busy in web 3 to be here with us at ncon 2023 now for those of you who don't know","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=61s"},{"start_seconds":68,"text":"me my name is Chris Donovan I am the COO at the near foundation and what I wanted to do today is to briefly make the case","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=68s"},{"start_seconds":77,"text":"for an open web and why I think it is so vital today and also so urgently","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=77s"},{"start_seconds":86,"text":"needed so the current web Paradigm we have today right it has revolutionized and it now dominates","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=86s"},{"start_seconds":92,"text":"pretty much every single aspect of Our Lives from our social and financial activities how we travel and work to how","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=92s"},{"start_seconds":101,"text":"we communicate and even just consume information particularly news and the power of these systems is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=101s"},{"start_seconds":109,"text":"unquestionable right and their influence is ubiquitous it's everywhere and of course with the recent remarkable","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=109s"},{"start_seconds":116,"text":"advances in Ai and and actually built in part on the the great work of our esteem co-founder and CEO Ilia the power and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=116s"},{"start_seconds":124,"text":"ubiquity of these systems is only set to increase further but there's a problem a","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=124s"},{"start_seconds":131,"text":"big problem in fact in my view and that despite all of these successes and the amazing things that","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=131s"},{"start_seconds":139,"text":"this technology enables us all to do the current web Paradigm is fundamentally broken and why is that because today the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=139s"},{"start_seconds":148,"text":"web is closed it's built on closed permission systems and infrastructure and these systems","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=148s"},{"start_seconds":157,"text":"have the effect of concentrating power and wealth data and governance in the hands of a very small number of people","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=157s"},{"start_seconds":165,"text":"the controllers and operators of these platforms and we we as users we are the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=165s"},{"start_seconds":173,"text":"product and privacy is eroded and inequality grows","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=173s"},{"start_seconds":180,"text":"so that's why the creation of an open web right which is what we're all here to do it has always been the near","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=180s"},{"start_seconds":188,"text":"ecosystems North Star but what do we mean by open web right it's a term that gets thrown","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=188s"},{"start_seconds":195,"text":"around a lot so let's try and let's try and break it down so in our view an open web is built","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=195s"},{"start_seconds":203,"text":"on permissionless autonomous systems and infrastructure right without controllers or Gatekeepers of any","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=203s"},{"start_seconds":210,"text":"kind where anyone anywhere can access and use these systems to create participate and be fairly rewarded for","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=210s"},{"start_seconds":220,"text":"their ideas and effort and by extension and to me most importantly of all this type of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=220s"},{"start_seconds":227,"text":"infrastructure can actually create guarantees for privacy for data ownership and portability and censorship","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=227s"},{"start_seconds":235,"text":"resistance amongst a whole bunch of other things right and in this digital age these qualities they are fundamental","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=235s"},{"start_seconds":243,"text":"human rights now having said all of that I actually want to dive more into why we","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=243s"},{"start_seconds":251,"text":"need an open web and I think to better understand that question let's come back to the current Paradigm for a minute","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=251s"},{"start_seconds":258,"text":"let's think about the closed web sometimes also called Web 2 and I mentioned earlier that despite","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=258s"},{"start_seconds":266,"text":"all of the great progress the current closed Paradigm is datally flawed because it's built on these closed","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=266s"},{"start_seconds":272,"text":"permissioned systems and actually this has a bunch of quite negative and very impactful consequences that are really","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=272s"},{"start_seconds":280,"text":"important for us to recognize so let's think about a few of those Gatekeepers as we all know the operators","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=280s"},{"start_seconds":289,"text":"of these systems right they can control the rules of the game right how these platforms operate who can have access to","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=289s"},{"start_seconds":297,"text":"them and of course they can also arbit trarily change the rules of the game whenever they like and these Ward","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=297s"},{"start_seconds":304,"text":"Gardens that they create in order for users and developers and Founders to get access to them they're typically required to give up something usually","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=304s"},{"start_seconds":312,"text":"it's their privacy it's also usually their data ownership and sometimes a bunch of other stuff as well and of course these issues when it comes to","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=312s"},{"start_seconds":320,"text":"Gatekeepers it's not just a purely online phenomenon right if if we consider things like the traditional","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=320s"},{"start_seconds":328,"text":"Financial system for example you know that of course is something that has been operated on a permissioned gate","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=328s"},{"start_seconds":334,"text":"kept closed basis for its entire history right and we've seen that accessibility","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=334s"},{"start_seconds":340,"text":"and equality suffers as a result of that there's also extraction that","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=340s"},{"start_seconds":348,"text":"happens with these Web Two Services right many of them as we know their build is free isn't that fantastic but","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=348s"},{"start_seconds":355,"text":"actually they demand tradeoffs and sacrifices that users developers and Founders are just often not aware of or","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=355s"},{"start_seconds":364,"text":"they might not fully understand because there's no transparency but actually they have no choice but to accept because they want to use these Services they want access to these goods and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=364s"},{"start_seconds":372,"text":"these products but that means that actually these Services they're not free right again in this world we are the product and we give up a huge amount of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=372s"},{"start_seconds":381,"text":"value when we enter into that bargain one of the biggest things that we do actually is we give up our ability","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=381s"},{"start_seconds":390,"text":"to truly own anything in the current digital Paradigm right at the moment in in the closed web 2 Paradigm it operates","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=390s"},{"start_seconds":399,"text":"primarily on what's called a licensed based model so that means that you don't have true ownership of any of your digital lives all that you have is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=399s"},{"start_seconds":408,"text":"what's called a license this is like a bundle of contractual rights between you and the platform or the operator right","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=408s"},{"start_seconds":416,"text":"and the platform operators typically would retain ownership and these licenses as as you guys may may know not that you've probably read through all of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=416s"},{"start_seconds":423,"text":"them you know they have reams of terms and conditions they're extremely dense they're hard to follow the terms can be changed at any time um and you know","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=423s"},{"start_seconds":433,"text":"without notice as well so the things that you think you own and the things that you think are yours in this Paradigm they're not","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=433s"},{"start_seconds":443,"text":"really and I think this is probably one of the biggest issues of all right so these systems are fundamentally built optimize two","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=443s"},{"start_seconds":451,"text":"things pure attention and I'll come back to what I mean by that in a minute and profit and that is at our expense again","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=451s"},{"start_seconds":459,"text":"as as the users of these of these services and of course like we mentioned the operators of these platforms they","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=459s"},{"start_seconds":467,"text":"are continuously updating the rules of the game in order to maximize these two things attention and profit and they're","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=467s"},{"start_seconds":476,"text":"getting really really good at that they they even understand how our brains work neurologically how we respond to stimula","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=476s"},{"start_seconds":483,"text":"how they can make sure that they keep our eyeballs glued to these screens as much as possible and in fact they've become so good like I said that actually","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=483s"},{"start_seconds":491,"text":"this closed web Paradigm it touches every aspect of our lives and the controllers and operators of these","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=491s"},{"start_seconds":498,"text":"platforms they have become extraordinarily powerful and wealthy and have an inordinate amount of influence","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=498s"},{"start_seconds":505,"text":"as a result and of course despite all the progress like I mentioned and despite the fact that you know this technology","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=505s"},{"start_seconds":513,"text":"has unlocked a lot of wonderful things it is doing a huge amount of damage to us as individuals and actually also to","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=513s"},{"start_seconds":520,"text":"the broader fabric of our societies so what I'd like to do now is go through a few examples of the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=520s"},{"start_seconds":528,"text":"negative impact of the open web right to try and provide a little bit more context because people often say to me they're like look Chris okay I","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=528s"},{"start_seconds":536,"text":"understand all of that this is like the 100th time you've chewed my off about the open web but honestly I don't really see why I should care right I just want","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=536s"},{"start_seconds":544,"text":"to be able to use seamless products and services I want them to be powerful I want them to be easy and also I kind of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=544s"},{"start_seconds":551,"text":"think I trust that you know insert name of random web to Tech Giant will will do right by me right I I guess I kind of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=551s"},{"start_seconds":559,"text":"trust them enough it doesn't really bother me so let's dive into some examples I think in practice to try and make the case as to why we should care","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=559s"},{"start_seconds":568,"text":"about this stuff so let's start with Kindle eBooks right I'm sure a lot of people in the audience","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=568s"},{"start_seconds":574,"text":"have got an Amazon Kindle I do too right now these ebooks that you buy on on the Amazon store right and they appear on your Kindle you don't actually own them","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=574s"},{"start_seconds":583,"text":"right they are licensed content like we were talking about earlier so what does that mean in practice that means that these books can just disappear from your","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=583s"},{"start_seconds":591,"text":"Kindle right no notice to you no warning nothing they can just disappear because for example Amazon might have changed its licensing policies or maybe Amazon","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=591s"},{"start_seconds":600,"text":"is in a dispute with a writer or a publishing house because they I don't know they disagree with the political views or social views of a particular","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=600s"},{"start_seconds":607,"text":"author for example right and even more sinisterly the content of these books can be changed unilaterally without","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=607s"},{"start_seconds":615,"text":"notice right so you could go back to reread one of the favor your favorite paragraphs one of your favorite books and it could be different to the last time that you read it and you wouldn't","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=615s"},{"start_seconds":623,"text":"even necessarily know data breaches and another big problem with this closed centralized","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=623s"},{"start_seconds":632,"text":"Paradigm right is that these enormous organizations and platforms including both technological and traditional say","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=632s"},{"start_seconds":640,"text":"like traditional financial institutions as we know they gather huge amounts of very sensitive personal data as part of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=640s"},{"start_seconds":648,"text":"how they police and gatekeep access to these goods and services right and this creates enormous data breach risks and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=648s"},{"start_seconds":656,"text":"actually between March 21 and February 22 there were over 42 million records exposed by data breaches which is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=656s"},{"start_seconds":664,"text":"enormous and and that's just the tip of the iceberg right you we see new new stories of of additional security lapses and breaches almost every single day it","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=664s"},{"start_seconds":672,"text":"feels like and and these things seriously harm individuals right with identity theft and financial loss and all the rest but it can it can truly","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=672s"},{"start_seconds":680,"text":"destroy people's lives and I'm also just on this topic going to take a very quick kind of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=680s"},{"start_seconds":687,"text":"sidebar right and just raised the topic of kyc AML and and sanctions checks which is a bit of a you know a bit of a boogeyman to the to the web through","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=687s"},{"start_seconds":696,"text":"crypto Community right and by those by the way you know kyc is know your customer AML anti-money laundering and sanctions checks right and these are","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=696s"},{"start_seconds":704,"text":"checks that that organizations do in order to verify the identity of your counterparty or maybe your customer","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=704s"},{"start_seconds":711,"text":"right and the policy outcome of that process is to try and validate that your counterparty is legit legitimate and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=711s"},{"start_seconds":719,"text":"isn't a criminal trying to bring criminal proceeds um into the financial system and I think look that's a","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=719s"},{"start_seconds":726,"text":"worthwhile an important policy outcome but of course the way that these processes are run at the moment is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=726s"},{"start_seconds":733,"text":"extraordinarily outdated and dangerous you have copies of passports and utility bills and bank statements flying around the internet and being stored very","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=733s"},{"start_seconds":742,"text":"poorly and all that it does is expose users to risks privacy and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=742s"},{"start_seconds":749,"text":"security and I think you know one of the really important things to recognize is actually that in web 3 today we have","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=749s"},{"start_seconds":757,"text":"technology to do this process better right things like zero knowledge proves where you can do these types of identity verifications without having to expose","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=757s"},{"start_seconds":766,"text":"people's sensitive information and so that means you're getting not just the same policy outcomes but actually better","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=766s"},{"start_seconds":773,"text":"ones right more enhanced protection not creating all of these risks another great","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=773s"},{"start_seconds":781,"text":"example app stores right web to App Stores particularly the Apple Store Right famously High commission 30% so","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=781s"},{"start_seconds":788,"text":"hard for projects even to get admitted right and of course Apple sets the rules of the game it decides which which apps","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=788s"},{"start_seconds":796,"text":"which projects it wants to allow in it can arbitrarily change the rules and kick apps out you know we know metamask was was booted out for a brief period of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=796s"},{"start_seconds":804,"text":"time and then let back in a couple of weeks ago but I also you know the examples I just","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=804s"},{"start_seconds":813,"text":"talked through they're quite specific right and I I wanted to take a step back and for us to think about the broader","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=813s"},{"start_seconds":819,"text":"impact of this closed Paradigm right on on our society as a whole so for example","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=819s"},{"start_seconds":826,"text":"right there are 1.7 billion adults are currently unbanked and as I said the traditional Financial system it is the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=826s"},{"start_seconds":833,"text":"Paragon of closed permissioned approach","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=833s"},{"start_seconds":839,"text":"inequality continues to Grow Again underpinned by this closed permissioned approach and if you look at this and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=839s"},{"start_seconds":848,"text":"there's plenty of other data on this the concentration of wealth and the levels of wealth inequality are actually the highest that they have ever been in in","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=848s"},{"start_seconds":857,"text":"the history of records that we have right the previous time that we were even close to this level was on the eve of World War I and we know what happened","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=857s"},{"start_seconds":866,"text":"after that and lastly and maybe most importantly","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=866s"},{"start_seconds":874,"text":"polarization right so we talked about how these permission systems you know they optimize for Pure","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=874s"},{"start_seconds":882,"text":"attention and by pure attention I mean that these platforms they don't care what kind of attention it is they don't care if it's attention to truthful","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=882s"},{"start_seconds":890,"text":"content right or credible content they don't care if it's high quality attention they just want eyeballs on","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=890s"},{"start_seconds":897,"text":"screens and the result of that is that these systems intentionally or not they have","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=897s"},{"start_seconds":905,"text":"the effect of enhancing the spread of misinformation and therefore increasing social and political polarization there's some great research","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=905s"},{"start_seconds":913,"text":"on on this topic um that I'd recommend anyone with an interest in this to look at there's a great paper from MIT back in 2018 that analyzed how false and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=913s"},{"start_seconds":923,"text":"truthful news stories spread on Twitter right and this this data demonstrated","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=923s"},{"start_seconds":930,"text":"that actually false news stories are 70% more likely to be retweeted than true","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=930s"},{"start_seconds":936,"text":"stories which is crazy when you think about it right and it actually takes true stories six times as long to re to","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=936s"},{"start_seconds":945,"text":"reach 1500 people as it does for false stories to reach the same number of people and that's that kind of blows my","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=945s"},{"start_seconds":952,"text":"mind to be honest right that there is an inbuilt bias to falsehood and misinformation right and we see the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=952s"},{"start_seconds":960,"text":"impact and the outcome of that every single day and this is a great example right where the median Democrat and the median Republican have become more","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=960s"},{"start_seconds":968,"text":"divided and more polarized than at any point again in in the history of of these","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=968s"},{"start_seconds":976,"text":"records so needless to say right the world does feel like we're at a bit of an inflection point and maybe even a","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=976s"},{"start_seconds":984,"text":"precipice of sorts across many different areas and many many different dimensions as well right and the closed permission","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=984s"},{"start_seconds":992,"text":"Paradigm has intentionally or not been playing an enormous part in either causing or amplifying these issues and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=992s"},{"start_seconds":1002,"text":"this is a pretty pretty bleak list here right political and social polarization erosion of trust in everything geopolitical instability Etc right it's","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1002s"},{"start_seconds":1011,"text":"it's it's not a nice it's not a nice read and the trouble is at the moment governments and big corporations you","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1011s"},{"start_seconds":1020,"text":"know the only Paradigm they know is this closed permission Paradigm so when they think about how to to try and meet and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1020s"},{"start_seconds":1028,"text":"overcome all of these challenges that we were just talking about they only know one way to do that right the closed web","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1028s"},{"start_seconds":1035,"text":"way and so this typically results results in increased control additional permissions and increased centralization","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1035s"},{"start_seconds":1044,"text":"and of course that's just a negative feedback loop it just further enhances and amplif all of those issues that we were talking","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1044s"},{"start_seconds":1052,"text":"about and again right now the closed web like we said is extraordinarily dominant and the permission systems and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1052s"},{"start_seconds":1059,"text":"infrastructure on which it relies extraordinarily dominant and actually set to become even more","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1059s"},{"start_seconds":1066,"text":"dominant right as AI is deployed in a closed web environment and this is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1066s"},{"start_seconds":1072,"text":"happening right now and frankly the same should be said of blockchain","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1072s"},{"start_seconds":1079,"text":"right blockchain can exist in a lot of different ways both in an open and closed permissioned permissionless","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1079s"},{"start_seconds":1086,"text":"environment right so blockchain can be used to form the basis for example of a pervasive surveillance infrastructure","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1086s"},{"start_seconds":1094,"text":"right where every aspect of Our Lives is monitored and tracked maybe it's monitored and maintained by AI you know and that sounds a lot to me","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1094s"},{"start_seconds":1102,"text":"like a a dystopia right and I think that's a genuinely non-trivial possibility","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1102s"},{"start_seconds":1110,"text":"I agree this is all starting to sound a little bit Bleak right so what to do so right now it feels like you know","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1110s"},{"start_seconds":1118,"text":"the past state that we're in it doesn't feel sustainable right at least certainly not to me but looking forward there is a huge amount of optimism and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1118s"},{"start_seconds":1127,"text":"promise but also we have similar risks and similar dangers but now we actually have the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1127s"},{"start_seconds":1134,"text":"tools right in this room at this conference in this industry to do","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1134s"},{"start_seconds":1141,"text":"better and I actually think we have an obligation to do better in","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1141s"},{"start_seconds":1148,"text":"fact but we can we can with an open web right that is the corrective to all of these issues that","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1148s"},{"start_seconds":1156,"text":"we've just been talking through right and it's it's right here it's at our fingertips it's happening right now and as we said an open web it's","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1156s"},{"start_seconds":1165,"text":"built on permissionless autonomous systems so let's break down what we mean by those two terms right so starting","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1165s"},{"start_seconds":1174,"text":"with permissionless so by permissionless we mean that these systems can be used by anyone anywhere at any time right no one","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1174s"},{"start_seconds":1184,"text":"controls how they're accessed or used they operate on a peer-to-peer peerto system or system to system basis and that's it anyone can use","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1184s"},{"start_seconds":1192,"text":"them and by autonomous we mean that the operation of these systems is inter consistent and predefined by a set of","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1192s"},{"start_seconds":1200,"text":"rules that operate in the same way for everybody and those rules will continue to operate in the same way consistently","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1200s"},{"start_seconds":1208,"text":"without any influence by external third parties right and that quality this","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1208s"},{"start_seconds":1215,"text":"autonomous it enables censorship resistance which is vital but also true data ownership and portability like we","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1215s"},{"start_seconds":1224,"text":"were talking about earlier and again quick little sidebar thinking about true property ownership right and property","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1224s"},{"start_seconds":1232,"text":"rights in general they're very special and unique because unlike just about any other type of legal right a property","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1232s"},{"start_seconds":1239,"text":"right you can enforce against the entire world against anybody it's a very powerful thing right whereas contractual","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1239s"},{"start_seconds":1246,"text":"relationships licenses which are a form of contractual relationship usually you can only enforce those against your contractual counterparty right so","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1246s"},{"start_seconds":1253,"text":"they're nowhere near as meaningful they're nowhere near as powerful now the other great thing about these","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1253s"},{"start_seconds":1262,"text":"open permissionless systems right is that they can be designed to incentivize something other than pure attention or","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1262s"},{"start_seconds":1269,"text":"profit right and we can Implement them in a way that enables contributors and users to be fairly rewarded for the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1269s"},{"start_seconds":1277,"text":"value and the effort that they put in but we also need to recognize and this is one of the biggest challenges I think that we've faced as an industry that we","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1277s"},{"start_seconds":1285,"text":"need to make sure that we give folks a reason to use this technology right we need to make the case effectively we","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1285s"},{"start_seconds":1293,"text":"need to match these Web Two services for convenience the user experience and for power I think we're making great strides","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1293s"},{"start_seconds":1301,"text":"towards doing that but I think it's pretty clear right that the essential component here that","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1301s"},{"start_seconds":1308,"text":"underpins this open web vision and this optimistic view of the future is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1308s"},{"start_seconds":1315,"text":"permissionless autonomous infrastructure just like the near ecosystems open web","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1315s"},{"start_seconds":1322,"text":"stack now Ilia is going to be discussing this later so I'm not going to steal his Thunder I would not dream of doing that to IIA but what I will do instead is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1322s"},{"start_seconds":1331,"text":"talk a little bit about how at the foundation we think about supporting an open web ecosystem right and you'll see","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1331s"},{"start_seconds":1339,"text":"here we think about three critical areas or buckets um that we think all need to be functioning in Harmony and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1339s"},{"start_seconds":1347,"text":"sustainable for this ecosystem and for an open web to become a reality right so Founders","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1347s"},{"start_seconds":1354,"text":"assets and ecosystem so let's start with Founders right these are the brilliant","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1354s"},{"start_seconds":1363,"text":"entrepreneurs and and the Risk Takers that are helping us to build the open web right and revolutionizing how they offer products and services to their","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1363s"},{"start_seconds":1371,"text":"users and their customers right and it is their dedication it is their Brilliance and their hard work that is help helping to build the open web and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1371s"},{"start_seconds":1380,"text":"actually solve real world problems like I said give people a reason to use this amazing technology and understand the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1380s"},{"start_seconds":1389,"text":"value and the empowerment that it brings the second area is assets right","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1389s"},{"start_seconds":1398,"text":"we want Founders and and projects and Builders to come and generate new assets and new value in our ecosystem right and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1398s"},{"start_seconds":1405,"text":"that will bring additional capital and additional backers and probably additional Founders and additional","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1405s"},{"start_seconds":1412,"text":"projects and users into the ecosystem right and this has the possibility of creating a a virtuous circle right that","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1412s"},{"start_seconds":1420,"text":"can enable Founders and Builders to create new projects and also to support the ongoing economic health and vibrancy of the","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1420s"},{"start_seconds":1428,"text":"ecosystem and and you know again without all of these three pieces working together we're not going to be","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1428s"},{"start_seconds":1436,"text":"successful so now coming lastly to the ecosystem and in some ways right this is","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1436s"},{"start_seconds":1444,"text":"what underpins everything else that we're that we're doing right because the ecosystem it includes that open web stack that IL is going to talk about","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1444s"},{"start_seconds":1452,"text":"more right the permissionless autonomous infrastructure that we absolutely have to have right that makes everything","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1452s"},{"start_seconds":1459,"text":"within an open web Paradigm possible but of course it also consists of everyone here in this room and everyone else","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1459s"},{"start_seconds":1468,"text":"across the ecosystem this amazing vibrant ecosystem that we have and all of these enormously talented Founders and and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1468s"},{"start_seconds":1475,"text":"Builders you know leveraging that technology and making use of those assets and that value flowing into the ecosystem to build new projects to bring","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1475s"},{"start_seconds":1484,"text":"value to their uses and ultimately to build an open web and so the ecosystem is where all of this stuff comes","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1484s"},{"start_seconds":1492,"text":"together right and that is why the foundation's mission has always been to support the ongoing growth and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1492s"},{"start_seconds":1500,"text":"development of an autonomous and decentralized near ecosystem and therefore by extension an open web and","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1500s"},{"start_seconds":1509,"text":"you know at the foundation we are unequivocally laser focused and committed to bringing our considerable","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1509s"},{"start_seconds":1517,"text":"resources to bear and support of this open web mission right and we believe that together all of us here in this room not just us at the foundation but","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1517s"},{"start_seconds":1525,"text":"as an ecosystem and frankly as an industry we have an opportunity to make this open web Vision a reality and like","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1525s"},{"start_seconds":1534,"text":"I said earlier this is not just an an opportunity right I think it's also an obligation that we","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1534s"},{"start_seconds":1541,"text":"have to do this right to make this a reality so look on that note I wanted to","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1541s"},{"start_seconds":1549,"text":"thank you for listening and I wanted to to ask you to join me to step into and to help build and support an open web at","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1549s"},{"start_seconds":1557,"text":"this near uh this year's neon so thank you very much everybody for","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1557s"},{"start_seconds":1573,"text":"listening","url":"https://www.youtube.com/watch?v=CFAYKjEiPjg&t=1573s"}],"youtube_url":"https://youtube.com/watch?v=CFAYKjEiPjg","url":"https://near-pedia.xyz/videos/CFAYKjEiPjg"}