{"id":"E_eWI3AGM-s","title":"Berkeley’s Future Blockchain Microbonds","description":"Today we talk with Berkeley's city councilman & attorney Ben Bartlett! He works in blockchain, helps projects get developed & is known for leveraging innovation to drive equity. Prepare to be inspired and potentially have your minds blown by what this pioneer & his team are up to that could transform the industry of municipal bonds.\n\nEmail: bennybartlett@gmail.com\nLinkedIn:   / bennybartlett  \n\nFollow the latest from NEAR Protocol on:\nWebsite: https://near.org/\nDiscord: https://near.chat/\nBlog: https://near.org/blog/\nTwitter:   / nearprotocol  \nGitHub: https://github.com/near  https://github.com/nearprotocol\n\n#Blockchain #FutureIsNEAR #NEAR #nearprotocol","channel_name":"NEAR Protocol","published_at":"2021-05-14T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/E_eWI3AGM-s/hqdefault.jpg","transcript_text":"hi everyone my name is dorian crutcher welcome to the episode of blockheads where we're here with the city council member of berkeley uh we're gonna be going into his background talking about his projects he's working on in blockchain to get integrated into the public space and his thoughts on the blockchain technology um in its current state uh hi dorian and chad and everyone out there thank you so much for taking the time to chat with me i'm a big fan of all your work and near in general uh yeah i'm my name is ben bartlett i'm on the city council berkeley i'm also an attorney and i work in blockchain to represent blockchain companies and founders and advised venture funds and whatnot and i helped projects get developed and on the city council i'm known for fighting for equity and innovation and essentially leveraging innovation to drive equity and so and that's how i that's pretty much how i got into the blockchain space um on those two fronts ben could you tell us like how you got interested in blockchain in the first place how did you get involved with that 13 years ago i added i had a someone somebody email i said yeah you can you can you can leverage your laptop to do computations for other people when you're not using it and get paid and i was like okay so i was like this sounds interesting i'll do it i thought it was for like laboratory experiments uh but it was just i paid these little bitcoins uh and there was sense at a time little sense and i was like this is interesting but i don't know what the hell to do with this it's like a game and i kind of lost interest in it and of course years later i realized millions and millions of dollars and then years later i was working at a place called the california uh drive electric vehicle adoption and how can we in particular um get charting stations uh set up around the state in the country and how could we pay for that drive a financial regime around it because the the the money doesn't make a lot of sense because electricity is so cheap so we we explored creating what we called a solar coin this is when icos were just taken off and read about it in the paper and we were going to do a solar coin then economic model monetize the electrons and so people could participate in electron markets um really cool vision but we didn't know how to do it or who to talk to so eventually that fell away this year we had two homeless people die in the streets in in berkeley for these people but that same year there were impact because we rely on what they call tax equity finance and this is uh corporations can defray some of their tax debt by investing in affordable housing and real energy things like that uh but that year the the the tax cuts were so so great that the corporations had no incentive to invest in our projects so we decided to go out to the crowd uh we reached out to people and we said okay we want to do we want to do something involving blockchain and crowdfunding for municipal bonds and and what we came up with were the microbonds and these are blockchain-based municipal bonds uh and some of the smartest people in the bay area crypto scene helped me come up with it and help design it and really proud of it and it's really interesting this is this is uh meant to solve for poverty and for infrastructure needs in general because the the average american is projected to have a zero net wealth zero net worth i'm sorry zero net worth uh in the next 35 to 40 years so that's huge scalar poverty the average american is projected to have a zero net worth uh within the next 40 years and i think due to the pandemic it's been accelerated so um that's that's a significant issue and at the same time the country uh has trillions and trillions and trillions of dollars of need bridges roads water everything needs to be rebuilt so we figured okay well let's let's align these two needs with each other because right now a bond uh the lowest price is 5 000 but the operative lower price lowest price is 100 000 and these go to wall street they buy them up and they get the returns uh they charge high fees and there's lots of friction points that blockchain can address employing smart contracts to issue the coupon payments etc can make it make a make a bond go for five dollars 25 hence the term microbot so the vision is for a low income family to own these 20 bonds tied to a bridge or a toll road or a dam or something or a renewable energy micro grid and get returns for 40 years so that's how you solve uh for this for this approaching poverty while solving for the nation's infrastructure needs so that's the vision of the microbonds and it's underway right now super excited about it man that's epic that's incredible so like it's like this aims to like attack that issue of like a poverty you know zero net worth like so you're saying like um actually i'm curious when you say like zero net worth like do you mean like like they're like an individual's income like will no longer like allow them to like save or be like if sufficient to like you know meet their own personal needs um yeah i'm interested in like what you're what the zero net worth like details are yeah yeah that that means barely getting by well it's like quite literally no savings nothing in the bank no ownership debt pnh zero net worth it comes from you know the last 50 years of our economic policy um of sucking well upward into the one percent that in a nutshell um due to regret progressive tax policies uh like sales taxes uh due to wage depression due to replacing replacing wage increases with credit so all those credit cards that gave out in the last 30 years all their balance is coming due and it comes from globalization and job competition and then outsourcing work uh and then disinvestment and retraining this investment in public education so it's a magic recipe um for for real what amounts to a slave class and that brawn with momentum uh that's going to take a lot of effort to correct and the pandemic of course oh and then before the and then the housing crisis right of 2008 2007 um that wiped away many of the gains people had made in terms of owning something and so now uh fast forward uh whatever comeback was was was happening was been doubly erased through the pandemic the lockdowns etc uh they've decimated um many people and so you have this recovery where there's a boom for rich people and then a complete absolute utter decimation everyone else this is what the a shape recovery that goes in two directions and so our efforts and i think everyone's effort on government and responsible business and anyone concerned the sustainability of the people um needs to correct that k and hammer them together into a circle and so these poverty um alleviation wealth creation events uh and corrective um policies um are going to be necessary to ensure the viability of this country big time um and when you were saying that like people with the micro bonds they would get paid out for like 40 uh years you were saying could you kind of expand on that well yeah so it depends right on the the the bonds fund public works and the government pays the bond so it could be it could be a 10-year it could be 40-year it could be 50 or it could be 99 years it all depends so you can imagine a wastewater treatment facility so all of these rare earth minerals we're going to be mining for electric cars uh mining the the the metals right is extremely extremely water intensive billions of gallons of dirty water produced to make the electric batteries for these cars all that water's got to be treated just like fracking and so that's a huge new opportunity for the government to let people buy into insurance it because you'll be paid companies will be paying um to use this water as well governments to clean it etc so that's a big one low hanging fruit that we that that's that's on the table right now and that's aside from everything else all the housing all the roads the sewers the country has not been rebuilt um and since it's since since the last iteration post world war ii so everything needs to be rebuilt um i'm curious on like what are like some of the challenges you feel like um we'll be in you're really standing in your way of like making this dream become like a reality so the you know the the pilot we're gonna do is gonna be just for a few million dollars uh there was talk of a fire truck uh talk of our local berkeley micro grid renewable energy small grid connecting a few city buildings uh and i think that's going to be fine because you know the we've we've got it approved by the city council they'll market it out to the community and then to the crypto world at large and i think it's going to succeed in a pilot level because of the interest will be so great and the bonds should sell out in the 10th of a second when it hits the larger crypto buying market but my goal is to is to go beyond the insular world of crypto people with their complicated past logins and stuff these these uh and open to the people promise of crypto and the promise web 3 right is to use technology to benefit humanity and open up access whereas the last iteration of the internet uh had the effect of constricting access and consolidated in five big companies who all who get all the revenue right so this web three promises internet of money um it should be democratizing money and i know that's the goal so the challenge would be for an interface that works for ordinary people and right now it doesn't exist so i'm hopeful that whoever the vendor that gets this uh will inspire others or they themselves will adopt a more user-friendly approach um to engaging in uh in cryptocurrency sweet how will you tackle the challenge of introducing like the average everyday person into your your project and product like say people like um us well so i mean the you know it will take lots lots of communication i did it on the local level yeah because they were right they thought was the dark web and thought it was bitcoin and you know i had to educate town elders on on the benefits and how the democratizing money is good for everyone and then i went actually and went around the run around the world talking about this for about a year i spoke in other countries and i helped them do it other countries did it on a larger level right banks did these bonds uh these crypto bonds uh the the u.n did these crypto bonds in about eight or nine countries and i i spoke to mayors throughout the united states governors interested politicians uh throughout throughout many many many many states in the country so i've done a lot of this selling and i think when when we when berkeley does its first offering and they see how easy it is now it can work that'll be a lot of the selling itself and then the and then the rest of it um we'll be communicating it to ordinary people saying listen there's a way uh for you and your family to own to own a piece of this country and get paid and it's just like crypto but um none of that is not the downside because it's a guaranteed bond um so i think i can make the case provided it's easy to use and that i get like i'm gonna keep saying this over and over i'm saying this for years um the the crypto the blockchain world and crypto is great for relieving friction among legacy institutions however the friction that's inherent in the blockchain applications right now is too great uh to do the mission of helping ordinary people get out of poverty yeah that makes sense like um at least like with near trying to like make it easier for the end user right it's like our goal is make it easier for the end user but i still find that like even um while i try like to explain like blockchain to my friends or people who like i run into like you know i often often um you know often often like met with like a lot of confusion at first seeing like dorian what is a blockchain what is cryptocurrency like uh how's it all work like i don't understand like any of it like how do i even like get involved or buy like and like an ether or bitcoin or near token or like whatever cryptocurrency um there's like uh i'm finding there's still like a lot of questions and mystery like around it uh and i'm and i'm curious it's like um do you like when you're communicating like uh so how do you like when you're talking about communicating to like general public or communicating to like just like like a like um every man like do you have like your plan probably like laid out for that it's gonna be like a like a cd meeting or is gonna be like some sort of like um like thing people can sign up for to learn more about um like or do you have like what's your plan for that aspect so far yeah first of all i want to say i definitely appreciate near your protocol um this nearest one one of the blockchain companies making an effort uh to be accessible to people uh with its ease of use and its user interface i really appreciate that uh and that makes me wanna bet on there for the long term too uh and not that i'm giving financial advice i'm just saying i believe in the company so eventually it's all the above right his town halls he's going to churches he's talking and you know i think i think it's easy to relate because everyone knows bitcoin everyone knows bitcoin made a lot of money uh for a lot of people and this is cryptocurrency so it's easy to translate that knowledge into this new thing these crypto bonds we can call them right they call them microbonds but whatever but we're translating it to crypto bonds because these are these are these are you know these are government instruments to just like assets for your family and it's easy to easy to use easy to buy um blockchain is just the under and just the stuff beneath it to make it seamless and automated um and to make make it make it make make it work better for you i leave it real simple i talk about the outcomes and if they ask blaine um what blockchain is i say well um if you've ever had to do it to a shared document where you're right together on a google document that's what it is you're you're together multiple people editing at the same time um you know and they seem to get that but if there are people that never use google docs then it's just like you know i just i talk about it like it's like like it's telephone nation um everybody on the phone uh sharing the same information to each other and then and that and that locks it up that locks it up and they say okay yes i'm curious how would you like to see the community or people other ways people can get like involved with your project if they're interested like right now um are there ways people can like help out or support you like how can we all get connected to you yeah well definitely you know i need all the support i can get because this is a big revolution right now the the city is closed the rf uh 11 or 12 teams applied they're going to choose a team and then that team is going to go out and and issue these microbonds it's going to be a big marketing push it'll be nuts but the larger goal for myself is to take these lessons and export them to the world because i really want to achieve this this revolution and money so everyone wants to help me just just come on board let's let's do it together that's how we got this far and i think for the next level which is going to be global offerings where people in kenya and somalia are helping to fund desalination projects uh you know around the horn of africa uh and people around the world scattered all a part of the same project finance team that's the next vision of this because just as america is looking at uh an average net worth of zero uh half of the world is going to be without water in the next 40 years so we've got to get serious about desalination bringing new technologies in and financing these very expensive projects to bring water to the people and so that's that's where this has to go to so anyone interested in helping um drive that conversation and create those the next uh financial engine of inclusion and environmental repair uh get with me and you can you can email me uh bennybartlet gmail.com you can find me on linkedin this has been bartlett uh yeah email linkedin yeah we'll have um ben's email linkedin in the description for this video everyone's like get involved um and yeah i mean thank you for like and thank you for offering that and for giving away free will get in touch with you so yeah your long-term goal is to see this go global to see like um like this project this technology like help not just like the us but in other countries somebody kind of curious is like it's like for berkeley's like hub like for berkeley like what makes berkeley suit the best suited like test out this new technology well you know so berkeley is great for this for this application because uh we we pride ourselves in big innovators uh you know the universe here we we have our own we have around element brickellium uh but uh but on this on the social front too berkeley um you know helped launch so many innovations from um for on like the black panthers i came from here and in oakland uh we created uh the free speech movement we created disability rights we created the local food revolution we created um neighborhood recycling we created property assessed clean energy pace financing which is where you pay for solar panels in your house using your property taxes right um and now they've gone from berkeley to being a multi-billion dollar industry so uh we pride ourselves on on these innovations that also help people and we we we hope we we embrace that whenever we can so this is uh this is par for the course uh for our brand i know yeah i don't know if you answer the question or not it's okay if you can't like but like do you know if there's like a timeline on like when microphones might be available to the public to be able to purchase and like um is that like and like is their portal to purchase these like depending on like which team um wins like you know i guess the contract or however the negotiations are settled yeah so it's been five years we passed we passed the initial legislation to create this five years ago uh it's been moving slow uh the finance department was great you know the the bankers on wall street that work with us were like trying to stall it uh but and then the pandemic hit and so that knocked it out for a year but now it's fully on board they they've seen the market mature they have confidence uh and and the rfp is designed so that the team will have a legacy bank with them to guarantee it so there's no fear on the city's part uh for our credit rating etc so i think at this point the team the team will be chosen over the next two or three months and then the second they're choosing shows them they're gonna go out to market so i i don't know people will be able to buy these things within six months wow okay that's exciting it is exciting i want to buy it they go out to market you know i'm going to be out there promoting it i'm trying to drive up interest and get it going everywhere so i'll be back i'll be everywhere talking about it i'm trying to make it happen yeah so they'll be they'll be a geo fencing for the for some period to let give berkeley a shot um and so berkeley people will buy as much as they can or as many people as we can convince to do it in town uh and the cool thing is we design legislation to encourage the creation of a secondary benefit that comes from the payments so you figure a little a little bond five eight dollars ten dollars is gonna have such tiny coupon payments right uh eight cents five cents 20 cents that it can become a local currency it can become a digital currency for use in berkeley uh it can be it can be a two-way portal for small businesses and customers who are struggling to keep their stores open it can be i think for homeless people or for kids so we ask the applicants to come up with a really creative uh socially beneficial use case uh for the tokens so that's gonna be exciting because they're gonna they're gonna sell that aspect of it as well to the local people so we'll give them we'll geofence it for a time let the locals get out buy as much as they can and then a certain amount of time it goes out to the market as at a hole and that's going to be an interesting uh whirlwind because yeah actually i'm also curious like what does that process even look like like you like you purchase a bond like you get like but some tokens in return or like or how do people interact like what would this like flow look like for the for the user if you're allowed to talk about that these are just like normal normal bonds right they're digital and a bond bond is a loan that's all it is so you you lend the government ten dollars and the government pays you back uh 11 over 10 years and so but periodically it gives you payments those are called coupons coupon payments right and so uh people will receive this coupon payment uh and i imagine the the team will design two ways to receive it so they can get it as normal money or they probably be able to write a token or an ft or something that can be moved around or spent or donated or traded or who knows what they come up with i have no idea what they're gonna come up with but i know just from the rumors i heard from people that were thinking of applying the ideas are very creative uh and very really exciting and is the value um and like so it's going to be tied to like a stable coin you said it's a buyer's tie to like the val like a usd or you know the american dollar stable in that it's a dollar right right these are dollars they're not tied to anything they're just they are dollars it is in digital they're in digital form the small payments they make it labeled into something interesting creative like a health care donation token or a homeless token or a berkeley buck or or you know who knows or a series of coupons to the local cafes who knows right they're dollars as well that's really exciting it's exciting yeah so that means like there's little volatility and like um for anybody who wants to jump in on this like uh for any person who's like new to um blockchains you're not like uh you're not like exposing stuff to the risk of like you know other cryptocurrencies that like have like those you know high highs and like low lows right you're you're you're tied to the dollar so like it's probably even more like recognizable for the average user or accessible yeah yeah so just as in the normal world um bonds are stable instruments right so if you want a low-risk investment with a you know the steady yield you just buy some bonds right and so these are just funds and they're they're gonna they're going to be um if you get the terms like zero it's like a zero coupon which means um it won't fluctuate there's going to be a standard set payment over so many years and so to discourage speculation so because they woke up in value but but the the stability in them is the value and so you know that that's that's the exciting thing about it uh for getting people interested in digital assets and who knows what kind of blending occurs who knows i'm really excited yeah i'm really excited to see how this like uh changes like birthdays communities um over the next few years like or in like what um like what public services will be revitalized or in the way that people think too like it gives a great opportunity for people to think differently and to maybe invest their money in their city and earn a return on it and then have some coupons and some coins and you know maybe yeah you could spend the coupon at like a certain coffee shop and maybe you meet someone there and that's nice you know and and it just the helping of people because that's what we all are trying to do is sell people and clearly you're really trying especially with this new technology because i feel like a lot of people can just look down negatively at like blockchain or cryptocurrency and think that it's like this this uh you know oh this weird scary thing but really it's it's the future and it's here to stay like nfts are huge right now and it's it's only just getting it's only just starting you know so um yeah i'm i'm really stoked for this i want to email you after and freaking see how i can help and kind of get started because it's either now or never in my opinion and um especially with you talking about desalination in africa too that's like finally like in our water like the water and um and the treatment facilities like these are all they're huge things that are going to need to be done in the future but that know that but that no one really likes talking about so it's nice that you're bringing this up as well then very very stoked yeah thank you the the mobile phone revolution um you know personal communication tied to now money and so you know we this is a new era of decentralization uh and shared power and inclusion absolutely oh yeah it's coming mainstream now like like uh trevor noah was just like you know had this whole like on nfts like a few weeks ago like i think snl did it a few months ago like um it's no longer it's kind of cool seeing it's like no longer like it's like just like a niche like thing in the corner of like you know the internet it's like um it's actually out there and people can get involved they want to yeah like like this could be a way for people to gain funds or gain traction and like hopefully like helping out like more homeless people too i can see that being thing um like yeah oakland san francisco it's all it's all pretty yeah it's pretty serious so it's pretty exciting to see possibility for alleviation to that issue too oh no i was going to say yeah you're right i mean california has as many as a half a million homeless people uh you know this goes back to infrastructure as well uh the current generation that's coming up the millennials is the biggest generation in human history it dwarfs the um the baby boomers and so but they have not built out more housing for people you know poor or have mental problems or struggling you you are competing for a housing unit and you lose that race and once you're out it's all part of the same the same deal expanding infrastructure and making it work for more people if you think about that yeah the street number um like the house market is so competitive the homeless like rates are increasing like you know this could definitely like solve like hey this could definitely help at least alleviate some of those issues even though like that was like the biggest like generation um in history of actually yeah i didn't know that either even more than the baby boomers like oh yeah it's wild to think about that's why your generation was out in the streets last year um you know and 50 dates that's never happened what were like the big things that you really needed from like a blockchain company that was going to be some huge deciding factors because this is a huge deal and there's a fair amount of really good blockchain companies out there so i'm curious what may have swayed you or what was uh what you liked about some comparison i wanted everyone to apply so we designed we designed the offering to encourage teams to work together to team up configured that even if you know a new blockchain company didn't have the track record they could partner up with someone who did and we wanted we also wanted to have electricity bank with them to guarantee the bonds in case they don't sell um and we wanted them to have some non-profit partnership to figure out the best way to have the secondary use of the of the bond instruments right like that's what i mentioned the local local currencies or homeless aid or whatever uh so you know we weren't concerned with it we just wanted them we wanted the checklist of things security ease of use um traceability to track ability because you know we wanted the the bonds to be uh remain with the rightful owner you know if they get stolen and be destroyed and replaced easily and and a platform that could handle the demand um and and and have the ability to market uh the instruments so you know we just we just had this checklist of those like seven those seven qualifications and we wanted people to to form up partnerships to make it work because we did because we wanted new people right we wanted people to that are trying hard to make their dreams come true have this chance of becoming world famous uh you know that's new teams with diverse teams and you know and berkeley we have a whole checklist too you gotta you gotta have diversity you gotta have women you gotta um you know you got to not be involved in guns and oil so so that was the just the the main highlights right security of course functionality vision um and um and financial um partnership for acumen right and that's all that's all we that's always it's all we put out there and so i've not seen the applications yet i won't see them until they choose them i'm kind of firewalled off from that it's the the city the people working the city finance department are going to go through and vet everyone and choose the team but we've given enough parameters and they understand the goals and they support it and they and they do want this to be not a one-off they want this to be a template um that they can go they can keep reissuing through for different projects sure the team will want to use that template for the rest of the country as well so um yeah so it's all good as as long as people where wherever there is wherever they were deficient find a partner right and that was the goal because we're trying to we're trying to we're trying to leverage the spirit of community right uh even on the business level man i love that that's so inspiring too like what what you guys are doing and how you're approaching it i feel like we don't hear enough of these kinds of things and and uh government and with our city you know there's like an actionable step that like uh that like looks like finally like like wow yeah i'm really excited this is this is so cool um i'm like so excited like there's a way for like users to get involved in their community to help build up their community but also like saving themselves from poverty yeah and to give people like some hope and to invest in like your your city and and to be more connected with people and just like be happy it's uh it's it's nice oh did we uh no we lost ben ben is awesome bro he's doing cool stuff this is like probably most exciting projects i've seen for blockchain you can make your own like social token you know spin-off token from like you know this whole thing like that's tied to uh these there's like tied to these bonds or you know like that's really exciting it's really cool opens up a lot of possibilities for some cool blockchain projects and even just like ways for like um coffee shops like local stores get involved and open themselves up for blockchain and just like maybe automatically reinvest those into some bonds like there's some cool ideas out there that i can like already imagine that would be sick if berkeley had their own berkeley token and then you could use the berkeley tokens at certain shops in berkeley that would be sick as hell i think eventually every state's probably going to try doing that and berkeley could if they wanted to sell this model to other countries to use or just put on the blockchain and make it open source for other people genuinely like i feel like this is like really cool because like it's like an actual step to um to a whole new like wave of technology it's like something i never thought i'd see in my lifetime so yeah like dude me either i was like we have computers in our pockets like what else can you make like i can i can grab myself from the moon and like be home by five i don't know like uh i hope it's so funny that it's so funny that he did like mining too that he was like mining on his laptop and i'm trying to wonder if like if it's possible for like other um credit to your way to like invest in other cities yeah i mean like dude yeah that's what i mean like for the future of this like other cities are so gonna adopt this create their own like social token or whatever and then you'll be able to maybe buy their token on coinbase like the berkeley token the california token and yeah and it all would be on the blockchain so you could be cool to see everything that they're doing like what they're up to and where your money goes and then getting a percentage back that'd be sick if they were like an nft as well because i it makes me wonder like when you own a part of that bond you he was saying that you technically own you know like a part of that fire truck that you helped get for the city so what would what could that look like because garyvee is doing these nft drops where if you buy one of his nfts called like the workout monster you get a workout with him this youtuber for one hour or like four hours and that's like something that comes with the nft that you purchase so i'm wondering if maybe what if they have kind of something like that where they're like if you're helping put into the city um you know say a building maybe you get to use the building couple times out of the month or something or you get a perk you know like a cool a cool perk since you're investing in the city sorry uh my brain's like we should make it we should turn this into like a podcast or something bonds aren't taxable because like they are they're loans for them right exactly you don't get taxed on the on the profits that you would earn from it all righty everyone so we may have lost the internet connection with ben but what we did not lose was the feeling of excitement and hopefulness from his up-and-coming innovative project featuring the power of microbonds using the blockchain guys this is exciting stuff if you guys want to get involved with this micro bond project you can find his contact information in the description below reach out to him get involved get excited and yeah there's a whole world of possibilities out there waiting for you and for this really cool and your community featuring these projects um thank you guys for watching we had a lot of fun talking to ben i hope you guys had a great time watching and listening and with that we're gonna sign off have a great day guys someone someone email i said yeah you can you can you can leverage your laptop to do computations for other people when you're not using it and get paid","transcript_synced_at":"2026-11-04T04:17:15.273Z","segments":[{"start_seconds":8,"text":"hi everyone my name is dorian crutcher welcome to the episode of blockheads where we're here with the city council member of berkeley uh we're gonna be going into","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=8s"},{"start_seconds":15,"text":"his background talking about his projects he's working on in blockchain to get integrated into the public space and his thoughts on the blockchain","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=15s"},{"start_seconds":24,"text":"technology um in its current state uh hi dorian and chad and everyone out there thank you so much for taking the time to chat with me","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=24s"},{"start_seconds":32,"text":"i'm a big fan of all your work and near in general uh yeah i'm my name is ben bartlett i'm on the city council berkeley","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=32s"},{"start_seconds":40,"text":"i'm also an attorney and i work in blockchain to represent blockchain companies and founders and advised venture funds and","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=40s"},{"start_seconds":48,"text":"whatnot and i helped projects get developed and on the city council i'm known for fighting for equity and","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=48s"},{"start_seconds":56,"text":"innovation and essentially leveraging innovation to drive equity and so and that's how i that's pretty much how i got into the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=56s"},{"start_seconds":64,"text":"blockchain space um on those two fronts ben could you tell us like how you got interested in blockchain in the first place how did you get involved with that","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=64s"},{"start_seconds":72,"text":"13 years ago i added i had a someone somebody email i said yeah you can you can you can leverage your laptop to do computations for other people when","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=72s"},{"start_seconds":80,"text":"you're not using it and get paid and i was like okay so i was like this sounds interesting i'll do it i thought it was for like laboratory experiments","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=80s"},{"start_seconds":88,"text":"uh but it was just i paid these little bitcoins","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=88s"},{"start_seconds":95,"text":"uh and there was sense at a time little sense and i was like this is interesting but i don't know what the hell to do with this it's like a game","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=95s"},{"start_seconds":102,"text":"and i kind of lost interest in it and of course years later i realized","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=102s"},{"start_seconds":110,"text":"millions and millions of dollars","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=110s"},{"start_seconds":116,"text":"and then years later i was working at a place called the california uh drive electric vehicle adoption","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=116s"},{"start_seconds":123,"text":"and how can we in particular um get charting stations uh set up around the state in the country","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=123s"},{"start_seconds":130,"text":"and how could we pay for that drive a financial regime around it because the the the money doesn't make a lot of","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=130s"},{"start_seconds":139,"text":"sense because electricity is so cheap so we we explored creating what we called a solar coin this is when icos were just taken off","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=139s"},{"start_seconds":147,"text":"and read about it in the paper and we were going to do a solar coin then","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=147s"},{"start_seconds":153,"text":"economic model monetize the electrons and so people could participate in electron markets","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=153s"},{"start_seconds":161,"text":"um really cool vision but we didn't know how to do it or who to talk to so eventually that fell away this year we had two homeless people die in the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=161s"},{"start_seconds":169,"text":"streets in in berkeley for these people but that same year there were impact because we rely on what they call","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=169s"},{"start_seconds":177,"text":"tax equity finance and this is uh corporations can defray some of their tax debt by investing in affordable","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=177s"},{"start_seconds":184,"text":"housing and real energy things like that uh but that year the the the tax cuts were so so great that the corporations had no incentive","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=184s"},{"start_seconds":193,"text":"to invest in our projects so we decided to go out to the crowd uh we reached out to people and we said okay we want to do we want","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=193s"},{"start_seconds":200,"text":"to do something involving blockchain and crowdfunding for municipal bonds and and what we came up with were the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=200s"},{"start_seconds":208,"text":"microbonds and these are blockchain-based municipal bonds uh and some of the smartest people in the bay area crypto scene helped me","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=208s"},{"start_seconds":217,"text":"come up with it and help design it and really proud of it and it's really interesting this is this is uh meant to solve for poverty","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=217s"},{"start_seconds":225,"text":"and for infrastructure needs in general because the the average american is projected to have a zero","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=225s"},{"start_seconds":233,"text":"net wealth zero net worth i'm sorry zero net worth uh in the next 35 to 40 years so that's huge scalar poverty","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=233s"},{"start_seconds":241,"text":"the average american is projected to have a zero net worth uh within the next 40 years and i think due to the pandemic it's been accelerated","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=241s"},{"start_seconds":250,"text":"so um that's that's a significant issue and at the same time the country uh has trillions and trillions and trillions of dollars","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=250s"},{"start_seconds":257,"text":"of need bridges roads water everything needs to be rebuilt so we figured okay well let's let's","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=257s"},{"start_seconds":266,"text":"align these two needs with each other because right now a bond uh the lowest price is 5 000 but the operative","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=266s"},{"start_seconds":275,"text":"lower price lowest price is 100 000 and these go to wall street they buy","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=275s"},{"start_seconds":282,"text":"them up and they get the returns uh they charge high fees and there's lots of friction points that blockchain can address","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=282s"},{"start_seconds":291,"text":"employing smart contracts to issue the coupon payments etc can make it make a make a bond go for five dollars","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=291s"},{"start_seconds":298,"text":"25 hence the term microbot so the vision is for a low income family to own these 20","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=298s"},{"start_seconds":306,"text":"bonds tied to a bridge or a toll road or a dam or something or a renewable energy micro grid","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=306s"},{"start_seconds":315,"text":"and get returns for 40 years so that's how you solve","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=315s"},{"start_seconds":321,"text":"uh for this for this approaching poverty while solving for the nation's infrastructure needs","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=321s"},{"start_seconds":329,"text":"so that's the vision of the microbonds and it's underway right now super excited about it man that's epic that's incredible so like it's like this","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=329s"},{"start_seconds":337,"text":"aims to like attack that issue of like a poverty you know zero net worth like so you're saying like um actually i'm curious when you say","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=337s"},{"start_seconds":345,"text":"like zero net worth like do you mean like like they're like an individual's income like will no longer like allow them to like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=345s"},{"start_seconds":353,"text":"save or be like if sufficient to like you know meet their own personal needs um yeah i'm interested in like what you're what the zero net worth like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=353s"},{"start_seconds":361,"text":"details are yeah yeah that that means barely getting by well it's like quite literally no savings","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=361s"},{"start_seconds":368,"text":"nothing in the bank no ownership debt pnh zero net worth it comes from you know the last 50 years","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=368s"},{"start_seconds":376,"text":"of our economic policy um of sucking well upward into the one percent that in a nutshell","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=376s"},{"start_seconds":384,"text":"um due to regret progressive tax policies uh like sales taxes uh due to wage depression","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=384s"},{"start_seconds":392,"text":"due to replacing replacing wage increases with credit so all those credit cards that gave out in the last 30 years","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=392s"},{"start_seconds":400,"text":"all their balance is coming due and it comes from globalization and job competition and then outsourcing","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=400s"},{"start_seconds":408,"text":"work uh and then disinvestment and retraining this investment in public education so","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=408s"},{"start_seconds":415,"text":"it's a magic recipe um for for real what amounts to a slave class","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=415s"},{"start_seconds":423,"text":"and that brawn with momentum uh that's going to take a lot of effort to correct","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=423s"},{"start_seconds":431,"text":"and the pandemic of course oh and then before the and then the housing crisis right of 2008 2007","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=431s"},{"start_seconds":438,"text":"um that wiped away many of the gains people had made in terms of owning something and so now uh fast forward","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=438s"},{"start_seconds":447,"text":"uh whatever comeback was was was happening was been doubly erased through the pandemic","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=447s"},{"start_seconds":453,"text":"the lockdowns etc uh they've decimated um many people and so you have this recovery","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=453s"},{"start_seconds":461,"text":"where there's a boom for rich people and then a complete absolute utter decimation everyone else","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=461s"},{"start_seconds":469,"text":"this is what the a shape recovery that goes in two directions and so our efforts and i think","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=469s"},{"start_seconds":477,"text":"everyone's effort on government and responsible business and anyone concerned the sustainability of the people","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=477s"},{"start_seconds":485,"text":"um needs to correct that k and hammer them together into a circle and so these poverty um alleviation","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=485s"},{"start_seconds":493,"text":"wealth creation events uh and corrective um policies um are going to be necessary to ensure the viability of this country","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=493s"},{"start_seconds":501,"text":"big time um and when you were saying that like people with the micro bonds they would get paid out for like 40","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=501s"},{"start_seconds":508,"text":"uh years you were saying could you kind of expand on that well yeah so it depends right on the the the bonds fund public works and the government pays the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=508s"},{"start_seconds":518,"text":"bond so it could be it could be a 10-year it could be 40-year it could be 50 or it could be 99 years","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=518s"},{"start_seconds":525,"text":"it all depends so you can imagine a wastewater treatment facility so all of these","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=525s"},{"start_seconds":532,"text":"rare earth minerals we're going to be mining for electric cars uh mining","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=532s"},{"start_seconds":539,"text":"the the the metals right is extremely extremely water intensive billions of gallons of dirty water","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=539s"},{"start_seconds":548,"text":"produced to make the electric batteries for these cars all that water's got to be treated just like fracking and so that's a huge","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=548s"},{"start_seconds":556,"text":"new opportunity for the government to let people buy into insurance it because you'll be paid companies will be paying","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=556s"},{"start_seconds":564,"text":"um to use this water as well governments to clean it etc so that's a big one low hanging fruit that we that that's that's on the table right now","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=564s"},{"start_seconds":572,"text":"and that's aside from everything else all the housing all the roads the sewers the country has not been rebuilt um and since it's since since the last","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=572s"},{"start_seconds":580,"text":"iteration post world war ii so everything needs to be rebuilt um i'm curious on like what are like some of the challenges you feel like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=580s"},{"start_seconds":588,"text":"um we'll be in you're really standing in your way of like making this dream become like a reality so the you know the the pilot we're gonna do is gonna be just","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=588s"},{"start_seconds":596,"text":"for a few million dollars uh there was talk of a fire truck uh talk of our local berkeley micro grid","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=596s"},{"start_seconds":604,"text":"renewable energy small grid connecting a few city buildings uh and i think that's going to be fine because you know the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=604s"},{"start_seconds":612,"text":"we've we've got it approved by the city council they'll market it out to the community and then to the crypto world at large","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=612s"},{"start_seconds":619,"text":"and i think it's going to succeed in a pilot level because of the interest will be so great and the bonds should sell out in the 10th of a second","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=619s"},{"start_seconds":628,"text":"when it hits the larger crypto buying market but my goal is to is to go","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=628s"},{"start_seconds":634,"text":"beyond the insular world of crypto people with their complicated past logins and stuff","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=634s"},{"start_seconds":642,"text":"these these uh and open to the people promise of crypto and the promise web 3 right is to use technology to benefit humanity and open","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=642s"},{"start_seconds":650,"text":"up access whereas the last iteration of the internet uh had the effect of constricting access and consolidated in five big","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=650s"},{"start_seconds":659,"text":"companies who all who get all the revenue right so this web three promises internet of money","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=659s"},{"start_seconds":668,"text":"um it should be democratizing money and i know that's the goal so the challenge would be for an","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=668s"},{"start_seconds":674,"text":"interface that works for ordinary people and right now it doesn't exist so i'm hopeful that whoever the vendor that gets this uh will","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=674s"},{"start_seconds":684,"text":"inspire others or they themselves will adopt a more user-friendly approach","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=684s"},{"start_seconds":690,"text":"um to engaging in uh in cryptocurrency sweet how will you tackle the challenge of introducing like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=690s"},{"start_seconds":698,"text":"the average everyday person into your your project and product like say people like um us well so i mean the you know it will","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=698s"},{"start_seconds":708,"text":"take lots lots of communication i did it on the local level yeah because they were right they thought was the dark web","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=708s"},{"start_seconds":716,"text":"and thought it was bitcoin and you know i had to educate town elders on on the benefits and how the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=716s"},{"start_seconds":723,"text":"democratizing money is good for everyone and then i went actually and went around the run around the world talking about this for about a year i spoke in","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=723s"},{"start_seconds":730,"text":"other countries and i helped them do it other countries did it on a larger level right banks did these bonds uh these crypto bonds","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=730s"},{"start_seconds":738,"text":"uh the the u.n did these crypto bonds in about eight or nine countries and i i spoke to mayors throughout the united states","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=738s"},{"start_seconds":748,"text":"governors interested politicians uh throughout throughout many many many many states in the country so i've done a lot of this","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=748s"},{"start_seconds":756,"text":"selling and i think when when we when berkeley does its first offering and they see how easy it is now it can work","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=756s"},{"start_seconds":764,"text":"that'll be a lot of the selling itself and then the and then the rest of it um we'll be communicating it to ordinary people saying listen there's a way","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=764s"},{"start_seconds":773,"text":"uh for you and your family to own to own a piece of this country and get paid and it's just like crypto but um none of","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=773s"},{"start_seconds":781,"text":"that is not the downside because it's a guaranteed bond um so i think i can make the case provided it's easy to use","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=781s"},{"start_seconds":790,"text":"and that i get like i'm gonna keep saying this over and over i'm saying this for years um the the crypto the blockchain world and","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=790s"},{"start_seconds":797,"text":"crypto is great for relieving friction among legacy institutions however the friction that's inherent in the blockchain","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=797s"},{"start_seconds":805,"text":"applications right now is too great uh to do the mission of helping ordinary people get out of poverty","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=805s"},{"start_seconds":815,"text":"yeah that makes sense like um at least like with near trying to like make it easier for the end user right it's like our goal is make it easier for the end user but i still find that like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=815s"},{"start_seconds":823,"text":"even um while i try like to explain like blockchain to my friends or people who like i run into like you know","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=823s"},{"start_seconds":831,"text":"i often often um you know often often like met with like a lot of confusion at first seeing like dorian what is a blockchain","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=831s"},{"start_seconds":839,"text":"what is cryptocurrency like uh how's it all work like i don't understand like any of it like how do i even like get involved or buy","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=839s"},{"start_seconds":847,"text":"like and like an ether or bitcoin or near token or like whatever cryptocurrency um there's","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=847s"},{"start_seconds":854,"text":"like uh i'm finding there's still like a lot of questions and mystery like around it uh and i'm and i'm curious it's like um do you","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=854s"},{"start_seconds":862,"text":"like when you're communicating like uh so how do you like when you're talking about communicating to like general public or","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=862s"},{"start_seconds":869,"text":"communicating to like just like like a like um every man like do you have like your plan probably like laid out for that it's gonna be like a like a cd meeting","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=869s"},{"start_seconds":878,"text":"or is gonna be like some sort of like um like thing people can sign up for to learn more about um like or do you have like what's your","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=878s"},{"start_seconds":887,"text":"plan for that aspect so far yeah first of all i want to say i definitely appreciate near","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=887s"},{"start_seconds":894,"text":"your protocol um this nearest one one of the blockchain companies making an effort uh to be accessible to people uh with its","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=894s"},{"start_seconds":903,"text":"ease of use and its user interface i really appreciate that uh and that makes me wanna bet on there for the long term too uh","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=903s"},{"start_seconds":912,"text":"and not that i'm giving financial advice i'm just saying i believe in the company so eventually it's all the above right","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=912s"},{"start_seconds":920,"text":"his town halls he's going to churches he's talking and you know i think i think it's easy","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=920s"},{"start_seconds":927,"text":"to relate because everyone knows bitcoin everyone knows bitcoin made a lot of money uh for a lot of people and this is","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=927s"},{"start_seconds":935,"text":"cryptocurrency so it's easy to translate that knowledge into this new thing these crypto bonds we can call them right they call them microbonds but","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=935s"},{"start_seconds":944,"text":"whatever but we're translating it to crypto bonds because these are these are these are you know these are government instruments","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=944s"},{"start_seconds":952,"text":"to just like assets for your family and it's easy to easy to use easy to buy um blockchain is just the under and just","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=952s"},{"start_seconds":960,"text":"the stuff beneath it to make it seamless and automated um and to make make it make it make make it","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=960s"},{"start_seconds":968,"text":"work better for you i leave it real simple i talk about the outcomes and if they ask blaine um what blockchain is i say well um","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=968s"},{"start_seconds":976,"text":"if you've ever had to do it to a shared document where you're right together on a google document that's what it is","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=976s"},{"start_seconds":983,"text":"you're you're together multiple people editing at the same time um you know and they seem to get that","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=983s"},{"start_seconds":992,"text":"but if there are people that never use google docs then it's just like you know i just i talk about it like it's like like it's telephone nation","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=992s"},{"start_seconds":1000,"text":"um everybody on the phone uh sharing the same information to each other and then and that","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1000s"},{"start_seconds":1008,"text":"and that locks it up that locks it up and they say okay","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1008s"},{"start_seconds":1019,"text":"yes i'm curious how would you like to see the community or people other ways people can get like involved with your project if they're interested","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1019s"},{"start_seconds":1027,"text":"like right now um are there ways people can like help out or support you like how can we all get connected to you yeah well definitely you know i need all the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1027s"},{"start_seconds":1035,"text":"support i can get because this is a big revolution right now the the city is closed the rf uh 11 or 12 teams applied they're going","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1035s"},{"start_seconds":1043,"text":"to choose a team and then that team is going to go out and and issue these microbonds it's going to be a big marketing push","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1043s"},{"start_seconds":1051,"text":"it'll be nuts but the larger goal for myself is to take these lessons and export them to the world","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1051s"},{"start_seconds":1059,"text":"because i really want to achieve this this revolution and money so everyone wants to help me just just come on board let's let's do it together","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1059s"},{"start_seconds":1067,"text":"that's how we got this far and i think for the next level which is going to be global offerings where people in kenya and somalia are helping to fund","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1067s"},{"start_seconds":1075,"text":"desalination projects uh you know around the horn of africa uh and people around the world scattered","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1075s"},{"start_seconds":1083,"text":"all a part of the same project finance team that's the next vision of this because just as america is looking at","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1083s"},{"start_seconds":1091,"text":"uh an average net worth of zero uh half of the world is going to be without water in the next 40 years","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1091s"},{"start_seconds":1099,"text":"so we've got to get serious about desalination bringing new technologies in","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1099s"},{"start_seconds":1106,"text":"and financing these very expensive projects to bring water to the people and so that's that's where this has to go to so anyone interested in helping","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1106s"},{"start_seconds":1116,"text":"um drive that conversation and create those the next uh financial engine of inclusion","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1116s"},{"start_seconds":1123,"text":"and environmental repair uh get with me and you can you can email me uh bennybartlet","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1123s"},{"start_seconds":1130,"text":"gmail.com you can find me on linkedin this has been bartlett uh yeah","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1130s"},{"start_seconds":1138,"text":"email linkedin yeah we'll have um ben's email linkedin in the description for this video","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1138s"},{"start_seconds":1146,"text":"everyone's like get involved um and yeah i mean thank you for like and thank you for offering that and for","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1146s"},{"start_seconds":1153,"text":"giving away free will get in touch with you so yeah your long-term goal is to see this go global to see like um like this project this technology","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1153s"},{"start_seconds":1162,"text":"like help not just like the us but in other countries somebody kind of curious is like it's like for berkeley's like hub like for berkeley like what makes","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1162s"},{"start_seconds":1170,"text":"berkeley suit the best suited like test out this new technology well you know so berkeley is great for this for this application because","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1170s"},{"start_seconds":1178,"text":"uh we we pride ourselves in big innovators uh you know the universe here we we have our own we have around element brickellium","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1178s"},{"start_seconds":1186,"text":"uh but uh but on this on the social front too berkeley um you know helped launch so many innovations","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1186s"},{"start_seconds":1193,"text":"from um for on like the black panthers i came from here and in oakland uh we created","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1193s"},{"start_seconds":1201,"text":"uh the free speech movement we created disability rights we created the local food revolution","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1201s"},{"start_seconds":1209,"text":"we created um neighborhood recycling we created property assessed clean energy pace financing","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1209s"},{"start_seconds":1217,"text":"which is where you pay for solar panels in your house using your property taxes right um and now they've gone from berkeley to being","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1217s"},{"start_seconds":1225,"text":"a multi-billion dollar industry so uh we pride ourselves on on these innovations that also help","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1225s"},{"start_seconds":1233,"text":"people and we we we hope we we embrace that whenever we can so this is uh this is par for the course","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1233s"},{"start_seconds":1242,"text":"uh for our brand i know yeah i don't know if you answer the question or not it's okay if you can't like but like do you know if there's like a timeline on like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1242s"},{"start_seconds":1250,"text":"when microphones might be available to the public to be able to purchase and like um is that like and like is their portal to purchase these like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1250s"},{"start_seconds":1258,"text":"depending on like which team um wins like you know i guess the contract or however the negotiations are settled","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1258s"},{"start_seconds":1267,"text":"yeah so it's been five years we passed we passed the initial legislation to create this five years ago","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1267s"},{"start_seconds":1276,"text":"uh it's been moving slow uh the finance department was great you know the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1276s"},{"start_seconds":1283,"text":"the bankers on wall street that work with us were like trying to stall it uh but and then the pandemic hit and so","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1283s"},{"start_seconds":1290,"text":"that knocked it out for a year but now it's fully on board they they've seen the market mature they have confidence uh and and the rfp","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1290s"},{"start_seconds":1299,"text":"is designed so that the team will have a legacy bank with them to guarantee it so there's no fear on the city's part uh","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1299s"},{"start_seconds":1307,"text":"for our credit rating etc so i think at this point the team the team will be chosen over the next two or three months","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1307s"},{"start_seconds":1314,"text":"and then the second they're choosing shows them they're gonna go out to market so i i don't know people will be","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1314s"},{"start_seconds":1322,"text":"able to buy these things within six months wow okay that's exciting it is","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1322s"},{"start_seconds":1328,"text":"exciting i want to buy it they go out to market you know i'm going to be out there promoting it","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1328s"},{"start_seconds":1335,"text":"i'm trying to drive up interest and get it going everywhere so i'll be back i'll be everywhere talking about it i'm","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1335s"},{"start_seconds":1343,"text":"trying to make it happen yeah so they'll be they'll be a geo","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1343s"},{"start_seconds":1352,"text":"fencing for the for some period to let give berkeley a shot um and so berkeley people will buy as much as they can or as many people as we can","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1352s"},{"start_seconds":1360,"text":"convince to do it in town uh and the cool thing is we design legislation to encourage the creation","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1360s"},{"start_seconds":1368,"text":"of a secondary benefit that comes from the payments so you figure a little a little bond","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1368s"},{"start_seconds":1376,"text":"five eight dollars ten dollars is gonna have such tiny coupon payments right uh eight cents five cents 20 cents","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1376s"},{"start_seconds":1384,"text":"that it can become a local currency it can become a digital currency for use in berkeley","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1384s"},{"start_seconds":1391,"text":"uh it can be it can be a two-way portal for small businesses and customers who are struggling to keep their stores open","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1391s"},{"start_seconds":1400,"text":"it can be i think for homeless people or for kids so we ask the applicants to come up with a really creative","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1400s"},{"start_seconds":1407,"text":"uh socially beneficial use case uh for the tokens so that's gonna be exciting because they're gonna they're gonna sell that","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1407s"},{"start_seconds":1415,"text":"aspect of it as well to the local people so we'll give them we'll geofence it for a time","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1415s"},{"start_seconds":1421,"text":"let the locals get out buy as much as they can and then a certain amount of time it goes out to","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1421s"},{"start_seconds":1429,"text":"the market as at a hole and that's going to be an interesting uh whirlwind because yeah actually i'm also curious like what does that process even look like like you","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1429s"},{"start_seconds":1438,"text":"like you purchase a bond like you get like but some tokens in return or like or how do people interact like what would","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1438s"},{"start_seconds":1446,"text":"this like flow look like for the for the user if you're allowed to talk about that these are just like normal normal bonds right they're digital","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1446s"},{"start_seconds":1455,"text":"and a bond bond is a loan that's all it is so you you lend the government ten dollars","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1455s"},{"start_seconds":1463,"text":"and the government pays you back uh 11 over 10 years and so but periodically it gives you payments","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1463s"},{"start_seconds":1470,"text":"those are called coupons coupon payments right and so uh people will receive this coupon payment","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1470s"},{"start_seconds":1479,"text":"uh and i imagine the the team will design two ways to receive it","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1479s"},{"start_seconds":1486,"text":"so they can get it as normal money or they probably be able to write a token or an ft or something that can be moved around or spent","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1486s"},{"start_seconds":1495,"text":"or donated or traded or who knows what they come up with i have no idea what they're gonna come up with but i know just from","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1495s"},{"start_seconds":1502,"text":"the rumors i heard from people that were thinking of applying the ideas are very creative uh and very really exciting","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1502s"},{"start_seconds":1510,"text":"and is the value um and like so it's going to be tied to like a stable coin you said it's a buyer's tie to like the val like a usd","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1510s"},{"start_seconds":1518,"text":"or you know the american dollar stable in that it's a dollar right right these are dollars they're not tied to anything","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1518s"},{"start_seconds":1525,"text":"they're just they are dollars it is in digital they're in digital form the small payments they make it labeled into something","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1525s"},{"start_seconds":1532,"text":"interesting creative like a health care donation token or a homeless token or a berkeley buck","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1532s"},{"start_seconds":1539,"text":"or or you know who knows or a series of coupons to the local cafes who knows right they're dollars as well","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1539s"},{"start_seconds":1548,"text":"that's really exciting it's exciting yeah so that means like there's little volatility and like um for anybody who wants to jump in on this like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1548s"},{"start_seconds":1556,"text":"uh for any person who's like new to um blockchains you're not like uh you're not like exposing stuff to the risk of like you know other","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1556s"},{"start_seconds":1564,"text":"cryptocurrencies that like have like those you know high highs and like low lows right you're you're you're tied to the dollar so like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1564s"},{"start_seconds":1571,"text":"it's probably even more like recognizable for the average user or accessible yeah yeah so just as in the normal world","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1571s"},{"start_seconds":1579,"text":"um bonds are stable instruments right so if you want a low-risk investment with a you know the steady","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1579s"},{"start_seconds":1586,"text":"yield you just buy some bonds right and so these are just funds and they're they're gonna they're going to be um","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1586s"},{"start_seconds":1594,"text":"if you get the terms like zero it's like a zero coupon which means um it won't fluctuate there's going to be a standard","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1594s"},{"start_seconds":1601,"text":"set payment over so many years and so to discourage speculation so because they woke up in value","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1601s"},{"start_seconds":1609,"text":"but but the the stability in them is the value and so you know that that's that's the exciting thing about it","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1609s"},{"start_seconds":1617,"text":"uh for getting people interested in digital assets and who knows what kind of blending occurs who knows","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1617s"},{"start_seconds":1624,"text":"i'm really excited yeah i'm really excited to see how this like uh changes like birthdays communities um over the next few years like or in like what um like what public","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1624s"},{"start_seconds":1633,"text":"services will be revitalized or in the way that people think too like it gives a great opportunity for people to think differently and to","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1633s"},{"start_seconds":1642,"text":"maybe invest their money in their city and earn a return on it and then have some coupons and some coins and you know maybe yeah you could spend the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1642s"},{"start_seconds":1650,"text":"coupon at like a certain coffee shop and maybe you meet someone there and that's nice you know and and it just the helping of people","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1650s"},{"start_seconds":1658,"text":"because that's what we all are trying to do is sell people and clearly you're really trying especially with this new technology because i feel like a lot of people can","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1658s"},{"start_seconds":1666,"text":"just look down negatively at like blockchain or cryptocurrency and think that it's like this this uh you know oh this weird scary","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1666s"},{"start_seconds":1675,"text":"thing but really it's it's the future and it's here to stay like nfts are huge right now and it's it's only just getting","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1675s"},{"start_seconds":1681,"text":"it's only just starting you know so um yeah i'm i'm really stoked for this i want to email you after and","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1681s"},{"start_seconds":1689,"text":"freaking see how i can help and kind of get started because it's either now or never in my opinion and um especially with you talking about","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1689s"},{"start_seconds":1697,"text":"desalination in africa too that's like finally like in our water like the water and um and the treatment facilities like these","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1697s"},{"start_seconds":1705,"text":"are all they're huge things that are going to need to be done in the future but that know that but that no one really likes talking about so it's nice that","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1705s"},{"start_seconds":1714,"text":"you're bringing this up as well then very very stoked yeah thank you the the mobile phone revolution","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1714s"},{"start_seconds":1722,"text":"um you know personal communication tied to now money and so you know we","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1722s"},{"start_seconds":1729,"text":"this is a new era of decentralization uh and shared power and inclusion absolutely","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1729s"},{"start_seconds":1736,"text":"oh yeah it's coming mainstream now like like uh trevor noah was just like you know had this whole like on nfts like a few weeks ago like i","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1736s"},{"start_seconds":1745,"text":"think snl did it a few months ago like um it's no longer it's kind of cool seeing it's like no longer like it's like just like a niche like thing","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1745s"},{"start_seconds":1754,"text":"in the corner of like you know the internet it's like um it's actually out there and people can get involved they want to yeah like like this could","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1754s"},{"start_seconds":1761,"text":"be a way for people to gain funds or gain traction and like hopefully like helping out like more homeless people too i can see that being","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1761s"},{"start_seconds":1768,"text":"thing um like yeah oakland san francisco it's all it's all pretty yeah it's pretty serious","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1768s"},{"start_seconds":1775,"text":"so it's pretty exciting to see possibility for alleviation to that issue too oh no i was going to say yeah you're right i mean california has as many as a","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1775s"},{"start_seconds":1784,"text":"half a million homeless people uh you know this goes back to infrastructure as well uh the current generation","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1784s"},{"start_seconds":1792,"text":"that's coming up the millennials is the biggest generation in human history it dwarfs the um the baby boomers","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1792s"},{"start_seconds":1800,"text":"and so but they have not built out more housing for people you know poor or have mental problems or struggling","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1800s"},{"start_seconds":1807,"text":"you you are competing for a housing unit and you lose that race and once you're out","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1807s"},{"start_seconds":1814,"text":"it's all part of the same the same deal expanding infrastructure and making it work for more people if you think about that yeah the street","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1814s"},{"start_seconds":1821,"text":"number um like the house market is so competitive the homeless like rates are increasing like you know this could definitely like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1821s"},{"start_seconds":1830,"text":"solve like hey this could definitely help at least alleviate some of those issues even though like that was like the biggest like generation","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1830s"},{"start_seconds":1836,"text":"um in history of actually yeah i didn't know that either even more than the baby boomers like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1836s"},{"start_seconds":1844,"text":"oh yeah it's wild to think about that's why your generation was out in the streets last year um you know and 50 dates that's never","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1844s"},{"start_seconds":1853,"text":"happened what were like the big things that you really needed from like a blockchain company that was going to be some huge deciding","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1853s"},{"start_seconds":1860,"text":"factors because this is a huge deal and there's a fair amount of really good blockchain companies out there so i'm curious what may have swayed you or","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1860s"},{"start_seconds":1868,"text":"what was uh what you liked about some comparison i wanted everyone to apply so we designed we designed the offering","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1868s"},{"start_seconds":1877,"text":"to encourage teams to work together to team up configured that even if you know","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1877s"},{"start_seconds":1883,"text":"a new blockchain company didn't have the track record they could partner up with someone who did and we wanted","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1883s"},{"start_seconds":1891,"text":"we also wanted to have electricity bank with them to guarantee the bonds in case they don't sell um and we wanted them to have some","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1891s"},{"start_seconds":1899,"text":"non-profit partnership to figure out the best way to have the secondary use of the of the bond instruments right like that's what i","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1899s"},{"start_seconds":1908,"text":"mentioned the local local currencies or homeless aid or whatever uh so you know we weren't concerned with it we just wanted them","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1908s"},{"start_seconds":1915,"text":"we wanted the checklist of things security ease of use um traceability to track ability because you know we","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1915s"},{"start_seconds":1924,"text":"wanted the the bonds to be uh remain with the rightful owner you know if they get stolen and be","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1924s"},{"start_seconds":1931,"text":"destroyed and replaced easily and and a platform that could handle the demand um and and and have the","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1931s"},{"start_seconds":1940,"text":"ability to market uh the instruments so you know we just we just had this checklist of those like seven those seven","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1940s"},{"start_seconds":1948,"text":"qualifications and we wanted people to to form up partnerships to make it work because we did because we wanted new","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1948s"},{"start_seconds":1956,"text":"people right we wanted people to that are trying hard to make their dreams come true have this chance of becoming","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1956s"},{"start_seconds":1964,"text":"world famous uh you know that's new teams with diverse teams and you know and berkeley we have a whole checklist too you gotta you gotta have","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1964s"},{"start_seconds":1972,"text":"diversity you gotta have women you gotta um you know you got to not be involved in guns and oil","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1972s"},{"start_seconds":1984,"text":"so so that was the just the the main highlights right security of course functionality","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1984s"},{"start_seconds":1992,"text":"vision um and um and financial um partnership for acumen right","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1992s"},{"start_seconds":1999,"text":"and that's all that's all we that's always it's all we put out there and so i've not seen the applications yet i won't see them until they choose them","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=1999s"},{"start_seconds":2008,"text":"i'm kind of firewalled off from that it's the the city the people working the city finance department are going to go through and","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2008s"},{"start_seconds":2014,"text":"vet everyone and choose the team but we've given enough parameters and they understand the goals and they support it and they and they do","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2014s"},{"start_seconds":2023,"text":"want this to be not a one-off they want this to be a template um that they can go they can keep reissuing through for","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2023s"},{"start_seconds":2030,"text":"different projects sure the team will want to use that template for the rest of the country as well so um yeah so it's all good as as long","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2030s"},{"start_seconds":2039,"text":"as people where wherever there is wherever they were deficient find a partner right and that was the goal","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2039s"},{"start_seconds":2046,"text":"because we're trying to we're trying to we're trying to leverage the spirit of community right uh even on the business level","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2046s"},{"start_seconds":2053,"text":"man i love that that's so inspiring too like what what you guys are doing and how you're approaching it i feel like we don't hear enough of","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2053s"},{"start_seconds":2061,"text":"these kinds of things and and uh government and with our city you know there's like an actionable step that like uh that like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2061s"},{"start_seconds":2069,"text":"looks like finally like like wow yeah i'm really excited this is this is","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2069s"},{"start_seconds":2076,"text":"so cool um i'm like so excited like there's a way for like users to get involved in their community to help build up","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2076s"},{"start_seconds":2083,"text":"their community but also like saving themselves from poverty yeah and to give people like some hope and to invest in like your","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2083s"},{"start_seconds":2090,"text":"your city and and to be more connected with people and just like be happy it's uh it's it's nice","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2090s"},{"start_seconds":2099,"text":"oh did we uh no we lost ben ben is awesome bro he's doing cool stuff this is like probably most exciting projects i've seen for blockchain you","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2099s"},{"start_seconds":2107,"text":"can make your own like social token you know spin-off token from like you know this whole thing like that's tied to uh these there's like tied to these","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2107s"},{"start_seconds":2115,"text":"bonds or you know like that's really exciting it's really cool opens up a lot of possibilities for some cool blockchain projects and even just like ways for like um","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2115s"},{"start_seconds":2122,"text":"coffee shops like local stores get involved and open themselves up for blockchain and just like maybe automatically reinvest those into some bonds like there's some cool ideas","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2122s"},{"start_seconds":2131,"text":"out there that i can like already imagine that would be sick if berkeley had their own berkeley token and then you could use the berkeley","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2131s"},{"start_seconds":2138,"text":"tokens at certain shops in berkeley that would be sick as hell i think eventually every state's probably going to try doing that and berkeley could if they","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2138s"},{"start_seconds":2147,"text":"wanted to sell this model to other countries to use or just put on the blockchain and make it open source for other people","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2147s"},{"start_seconds":2155,"text":"genuinely like i feel like this is like really cool because like it's like an actual step to um to a whole new like wave of","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2155s"},{"start_seconds":2162,"text":"technology it's like something i never thought i'd see in my lifetime so yeah like dude me either i was like we have computers in our pockets like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2162s"},{"start_seconds":2171,"text":"what else can you make like i can i can grab myself from the moon and like be home by five i don't know","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2171s"},{"start_seconds":2179,"text":"like uh i hope it's so funny that it's so funny that he did like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2179s"},{"start_seconds":2186,"text":"mining too that he was like mining on his laptop and i'm trying to wonder if like if it's possible for like other um credit to your way to like invest in","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2186s"},{"start_seconds":2195,"text":"other cities yeah i mean like dude yeah that's what i mean like for the future of this like other cities are so gonna adopt this","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2195s"},{"start_seconds":2203,"text":"create their own like social token or whatever and then you'll be able to maybe buy their token on coinbase","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2203s"},{"start_seconds":2211,"text":"like the berkeley token the california token and yeah and it all would be on the blockchain","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2211s"},{"start_seconds":2219,"text":"so you could be cool to see everything that they're doing like what they're up to and where your money goes and then getting a percentage back","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2219s"},{"start_seconds":2226,"text":"that'd be sick if they were like an nft as well because i it makes me wonder like when you own a part of that bond you he was","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2226s"},{"start_seconds":2234,"text":"saying that you technically own you know like a part of that fire truck that you helped get for the city so what would what could that look like","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2234s"},{"start_seconds":2241,"text":"because garyvee is doing these nft drops where if you buy one of his nfts called like the workout monster you get a workout","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2241s"},{"start_seconds":2248,"text":"with him this youtuber for one hour or like four hours and that's like something that comes with the nft that you purchase","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2248s"},{"start_seconds":2256,"text":"so i'm wondering if maybe what if they have kind of something like that where they're like if you're helping put into the city um you know say a building","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2256s"},{"start_seconds":2264,"text":"maybe you get to use the building couple times out of the month or something or you get a perk you know like a cool a cool perk since","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2264s"},{"start_seconds":2272,"text":"you're investing in the city sorry uh my brain's like we should make it we should turn this into like a podcast or something bonds aren't taxable because like they","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2272s"},{"start_seconds":2279,"text":"are they're loans for them right exactly you don't get taxed on the on the profits that you would earn from it all righty everyone so we may have lost","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2279s"},{"start_seconds":2288,"text":"the internet connection with ben but what we did not lose was the feeling of excitement and hopefulness from his up-and-coming","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2288s"},{"start_seconds":2295,"text":"innovative project featuring the power of microbonds using the blockchain guys this is exciting stuff if you guys want to get","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2295s"},{"start_seconds":2303,"text":"involved with this micro bond project you can find his contact information in the description below reach out to him get involved get","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2303s"},{"start_seconds":2310,"text":"excited and yeah there's a whole world of possibilities out there waiting for you and for this really cool and your community featuring these projects","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2310s"},{"start_seconds":2319,"text":"um thank you guys for watching we had a lot of fun talking to ben i hope you guys had a great time watching and listening and with that we're gonna sign off have a great day","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2319s"},{"start_seconds":2338,"text":"guys","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2338s"},{"start_seconds":2348,"text":"someone someone email i said yeah you can you can you can leverage your laptop to do computations for other people when you're not using it and get paid","url":"https://www.youtube.com/watch?v=E_eWI3AGM-s&t=2348s"}],"youtube_url":"https://youtube.com/watch?v=E_eWI3AGM-s","url":"https://near-pedia.xyz/videos/E_eWI3AGM-s"}