{"id":"bK-l9UZERek","title":"Aurora Cloud Blockchain for the Real World","description":"Aurora Cloud Blockchain for the Real World, presented by Alex Shevchenko, CEO of Aurora, at Consensus 2023\n\nPart of an hourlong exploration of the advancements defining the NEAR ecosystem in 2023. Hosted by David Morrison.\n\n\nJoin NEAR's community:\nWebsite: https://near.org/\nReddit:   / nearprotocol  \nDiscord: https://near.chat/\nMedium:   / nearprotocol  \nBlog: https://near.org/blog/\nTwitter:   / nearprotocol  \nGitHub: https://github.com/near  https://github.com/nearprotocol\nDev Docs: https://docs.near.org/\nCreate a wallet: https://wallet.near.org/create\nApps on NEAR: https://awesomenear.com/\nLearn to Build On NEAR: https://www.near.university/\nGrants & Funding: https://near.org/grants/\n#Blockchain #FutureisNEAR #NEAR #nearprotocol\n#nft #dao #BOS","channel_name":"NEAR Protocol","published_at":"2023-05-15T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/bK-l9UZERek/hqdefault.jpg","transcript_text":"thank you hello everybody hopefully some of you know me but if in case if you are not I'm the CEO for our Labs the development company behind Aurora and Aurora in short is the evm compatibility layer on top of newer protocol something that allows you to launch your web3 stack on top of more performant modern L1 solution and I would like to start my talk today with two numbers 1.2 trillion US Dollars and 2.66 trillion US Dollars the first one is the total market cap of all cryptocurrencies at the moment as of today's morning in the second one is the valuation of a single company in this world web 2 company an ordinary digital company that many of you when the which products many of you are using and with this stuff the only thing that I can say what the heck what is happening we are a giant industry but we are not able to keep up even with the single company after 10 years of development and take a look at Apple 10 years ago iPhone just entered the market they started to pick up things however they were very very very behind many other players that are there so my convictions and the things that I believe in is that the reason why this Mass adoption is not happening is because blockchain is like quantum mechanics it is very very disruptive it is very very different it is actually speaks different terms in quantum mechanics you have the probabilities you don't know where things are located and what is the velocity of the of the particles I believe that blockchains are going to revolutionize the way how people think about the world they are going to change absolutely the language on which people are speaking with each other I think all of the businesses especially digital businesses that have been undergoing the digital Revolution they are going to undergo blockchain Revolution but it doesn't mean that they're going to have everything on the blockchain they're just going to use blockchain as a means of introducing Trust and for sure blockchain is not the core of their businesses blockchain is just a feature that is going to bring this additional things to the businesses and I can tell you even more that web 2 right now is much much more ready for the web 3 and integration of the web 3 Technologies in their stack than it was in 2015 when I started at the crypto and instead of us fighting and fighting with web2 and trying to disrupt them I believe that everything is going to be turned around and it is a web tool that is going to enable the web 3 revolution of the world so I think that we need to grow up learn how to speak with a web 2 and and help and give them solutions that are going to help their business models so and what a normal business needs right it needs to put down in their papers budgets so they need to understand what is the operational expenditures they would like to be able just in case something is wrong to switch the provider so they don't need to have a vendor login they need their solution this new solution that you are supplying to them to be connected to everything that they have already they don't want their business model to be disrupted because they are successful business they have in revenues and everything is okay they want to grow it or reduce the cost but there is no disruption that they want to undergo they want to fast iterate and Alex gioki was talking about this just a minute ago and they would like to be serviced well especially within the app something that is absolutely new and they would like to also be compliant they would like to understand that they are going to exist as a business tomorrow and um some some guy is not going to come and say that things that they are doing now need to comply with the Securities laws so what does it mean if we're talking about a blockchain predictability of the cost imply that there is some kind of container on containerized solution within which only these businesses operating no vendor lock-in means that this should be an evm solution connectivity means that you also need to create something that is going to be composable something that can use other applications that are working on the blockchain no disruption means that users that who are using the product of this business do not need to buy crypto and top up their wallets fast iterations means that there should be caught Snippets sdks great protocols that are supported by many vendors that are supplying this data and information and this is something that Elia was touching on the on the data data layer great service well it is hard and we don't know how to do it crypto is very bad at this but we need to learn through this right and compliance well we need to go get them licenses right that's that's the hard truth if we want to work with webtoos we need to get these licenses and all of these ideas everything that I was talking about right now was completely disconnected from from Aurora I've started with convictions I went into what what do our customers our future customers who have to need and now I just happy to say that this is exactly what we're building and this is called Aurora Cloud so what is Aurora Cloud Aurora cloud is a set of tools that are allowing businesses to adapt blockchain technology without disruption it it includes evm containers or as we call them Aurora silos these are dedicated if you you can call them app chains that are available for businesses they can be private or public in case of the public networks these are launched on top of near protocol and in case not we're using calimero a private sharding solution that is developed inside of the new record system Aurora cloud is connected to the world directly in between the silos because they are able to just cross-contract call each other silos are composable because they are just smart contracts that are working on top of near blockchain and besides that they are connected by default with the largest blockchain in the world ethereum blockchain through the most secure and robust permissionless bridge that exists in the world and this is Rainbow Bridge for user onboarding you either can use boss or you can use the absolutely new wallet that is suited for web to users that is a part of the proposition of Aurora cloud and this wallet is going to be released in literally a couple of weeks from now it is called Aurora pass within this wallet there is no notion of per transaction fees all of the transactions are executed with Biometrics as similarly to how Apple wallet is working there is no disruption the the the idea of of this per transaction fees is pushed down the stack and the business is able actually to pay for the transactions and for the execution of transactions not only their own users but also businesses are able to create different marketing campaigns say this is a free Halloween weekend for everybody from the US as I said we are building one of the most complicated smart contracts in the world that have been hosting billions of value in highly liquid assets and they were not they have not been breaking broken and and they are staying even now working 24 7. our Tech is very robust and we are super proud of this particular feature and we have a proven track record of delivered projects now I want to give you just one case study of assigned web 2 customer who is paying us for this solution so this is not something that we're doing for free this is a client who was coming to us they understood what they want to do and they are already on boarding to the Aurora cloud this is a European green Energy company their business is extremely simple they are taking money they invest in it in solar panels they are operating solar panels getting green energy and selling it to the grid it costs a little bit more and because of this they are able to get around 14 to 16 apy on the investment their goal is to democratize energy markets and make it simpler and liquid because at the moment in case you're investing in the in the equity you are not able to do anything until the liquidity event and the solution that we are building for them that is almost built is pretty simple uh they we are able to organize a clean legal setup in the UK jurisdictions for them that is going to mean that everything that is happening with their security token that is representing the ownership of this company is okay and is translated to The Regulators we're launching with them permissioned public Aurora Silo with kyc and AML checks on the boundary so nobody else nobody who has have not been undergoing these checks is able to transact there is no transaction fees for their investors because it doesn't make sense for them to have these transaction fees we organize a simple sales process for their tokens and they we're putting there also established amm smart contracts that are that are able to create liquid markets for their investors so in short this is Aurora Cloud this is a tool that helps everyone and helps web 2 to transform into the web 3 and all of this is possible because of the near blockchain and great technologies that are developed together by near and Aurora thank you very much","transcript_synced_at":"2026-11-04T03:49:55.988Z","segments":[{"start_seconds":2,"text":"thank you","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=2s"},{"start_seconds":18,"text":"hello everybody hopefully some of you know me but if in case if you are not I'm the CEO for our Labs the development company behind","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=18s"},{"start_seconds":27,"text":"Aurora and Aurora in short is the evm compatibility layer on top of newer protocol something that allows you to launch your web3 stack on top of more","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=27s"},{"start_seconds":36,"text":"performant modern L1 solution and I would like to start my talk today with two numbers 1.2 trillion US Dollars","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=36s"},{"start_seconds":45,"text":"and 2.66 trillion US Dollars the first one is the total market cap of all cryptocurrencies at the moment as of","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=45s"},{"start_seconds":54,"text":"today's morning in the second one is the valuation of a single company in this world web 2 company an ordinary","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=54s"},{"start_seconds":63,"text":"digital company that many of you when the which products many of you are using and with this stuff the only thing that","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=63s"},{"start_seconds":72,"text":"I can say what the heck what is happening we are a giant industry but we are not able to keep up even with the","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=72s"},{"start_seconds":80,"text":"single company after 10 years of development and take a look at Apple 10 years ago iPhone just entered the market they","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=80s"},{"start_seconds":89,"text":"started to pick up things however they were very very very behind many other players that are there","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=89s"},{"start_seconds":98,"text":"so my convictions and the things that I believe in is 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especially digital businesses that have been","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=135s"},{"start_seconds":143,"text":"undergoing the digital Revolution they are going to undergo blockchain Revolution but it doesn't mean that they're going to have everything on the","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=143s"},{"start_seconds":151,"text":"blockchain they're just going to use blockchain as a means of introducing Trust","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=151s"},{"start_seconds":158,"text":"and for sure blockchain is not the core of their businesses blockchain is just a feature that is going to bring this","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=158s"},{"start_seconds":166,"text":"additional things to the businesses and I can tell you even more that web 2 right now is much","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=166s"},{"start_seconds":174,"text":"much more ready for the web 3 and integration of the web 3 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there is no disruption that they want to undergo","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=250s"},{"start_seconds":257,"text":"they want to fast iterate and Alex gioki was talking about this just a minute ago and they would like to be serviced well","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=257s"},{"start_seconds":265,"text":"especially within the app something that is absolutely new and they would like to also be compliant they would like to","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=265s"},{"start_seconds":274,"text":"understand that they are going to exist as a business tomorrow and um some some guy is not going to come and say that","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=274s"},{"start_seconds":283,"text":"things that they are doing now need to comply with the Securities laws so what does it mean","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=283s"},{"start_seconds":291,"text":"if we're talking about a blockchain predictability of the cost imply that there is some kind of","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=291s"},{"start_seconds":299,"text":"container on containerized solution within which only these businesses operating","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=299s"},{"start_seconds":306,"text":"no vendor lock-in means that this should be an evm solution connectivity means that you also need to","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=306s"},{"start_seconds":315,"text":"create something that is going to be composable something that can use other applications that are working on the blockchain","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=315s"},{"start_seconds":322,"text":"no disruption means that users that who are using the product of this business do not need to buy crypto and top up","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=322s"},{"start_seconds":331,"text":"their wallets fast iterations means that there should be caught Snippets sdks great protocols","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=331s"},{"start_seconds":339,"text":"that are supported by many vendors that are supplying this data and information and this is something that Elia was touching on the on the data data layer","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=339s"},{"start_seconds":348,"text":"great service well it is hard and we don't know how to do it crypto is very bad at this but we need to learn through","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=348s"},{"start_seconds":357,"text":"this right and compliance well we need to go get them licenses right that's that's the hard truth if we want to work","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=357s"},{"start_seconds":366,"text":"with webtoos we need to get these licenses and all of these ideas everything that I was talking about right now was completely disconnected","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=366s"},{"start_seconds":374,"text":"from from Aurora I've started with convictions I went into what what do our customers our","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=374s"},{"start_seconds":383,"text":"future customers who have to need and now I just happy to say that this is exactly what we're building and this is","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=383s"},{"start_seconds":390,"text":"called Aurora Cloud so what is Aurora Cloud Aurora cloud is a set of tools that are allowing businesses to adapt","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=390s"},{"start_seconds":398,"text":"blockchain technology without disruption it it includes evm containers or as we","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=398s"},{"start_seconds":407,"text":"call them Aurora silos these are dedicated if you you can call them app chains that are available for businesses","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=407s"},{"start_seconds":414,"text":"they can be private or public in case of the public networks these are launched on top of near protocol and in case not","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=414s"},{"start_seconds":423,"text":"we're using calimero a private sharding solution that is developed inside of the new record system","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=423s"},{"start_seconds":430,"text":"Aurora cloud is connected to the world directly in between the silos because they are able to just cross-contract","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=430s"},{"start_seconds":439,"text":"call each other silos are composable because they are just smart contracts that are working on","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=439s"},{"start_seconds":447,"text":"top of near blockchain and besides that they are connected by default with the largest blockchain in the world ethereum blockchain through","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=447s"},{"start_seconds":454,"text":"the most secure and robust permissionless bridge that exists in the world and this is Rainbow Bridge","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=454s"},{"start_seconds":462,"text":"for user onboarding you either can use boss or you can use the absolutely new wallet that is suited for web to users","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=462s"},{"start_seconds":469,"text":"that is a part of the proposition of Aurora cloud and this wallet is going to be released in literally a couple of","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=469s"},{"start_seconds":477,"text":"weeks from now it is called Aurora pass within this wallet there is no notion of per transaction fees all of the","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=477s"},{"start_seconds":484,"text":"transactions are executed with Biometrics as similarly to how Apple wallet is working there is no disruption","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=484s"},{"start_seconds":493,"text":"the the the idea of of this per transaction fees is pushed down the stack and the business is able actually","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=493s"},{"start_seconds":502,"text":"to pay for the transactions and for the execution of transactions not only their own users but also businesses are able","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=502s"},{"start_seconds":510,"text":"to create different marketing campaigns say this is a free Halloween weekend for","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=510s"},{"start_seconds":517,"text":"everybody from the US as I said we are building one of the most complicated smart contracts in the","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=517s"},{"start_seconds":525,"text":"world that have been hosting billions of value in highly liquid assets and they were not they have not been breaking broken and","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=525s"},{"start_seconds":534,"text":"and they are staying even now working 24 7. our Tech is very robust and we are","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=534s"},{"start_seconds":543,"text":"super proud of this particular feature and we have a proven track record of delivered projects now I want to give you just one case","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=543s"},{"start_seconds":552,"text":"study of assigned web 2 customer who is paying us for this solution so this is not something that we're doing for free","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=552s"},{"start_seconds":561,"text":"this is a client who was coming to us they understood what they want to do and they are already on boarding to the","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=561s"},{"start_seconds":568,"text":"Aurora cloud this is a European green Energy company their business is extremely simple they","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=568s"},{"start_seconds":575,"text":"are taking money they invest in it in solar panels they are operating solar panels getting green energy and selling it to the grid","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=575s"},{"start_seconds":583,"text":"it costs a little bit more and because of this they are able to get around 14 to 16 apy on the investment","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=583s"},{"start_seconds":592,"text":"their goal is to democratize energy markets and make it simpler and liquid because at the moment in case you're","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=592s"},{"start_seconds":600,"text":"investing in the in the equity you are not able to do anything until the liquidity event and the solution that we are building","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=600s"},{"start_seconds":609,"text":"for them that is almost built is pretty simple uh they we are able to organize a clean legal setup in the UK","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=609s"},{"start_seconds":616,"text":"jurisdictions for them that is going to mean that everything that is happening with their security token that is representing the ownership of this","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=616s"},{"start_seconds":624,"text":"company is okay and is translated to The Regulators we're launching with them","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=624s"},{"start_seconds":631,"text":"permissioned public Aurora Silo with kyc and AML checks on the boundary so nobody else nobody who has have not been","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=631s"},{"start_seconds":640,"text":"undergoing these checks is able to transact there is no transaction fees for their investors because it doesn't make sense","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=640s"},{"start_seconds":647,"text":"for them to have these transaction fees we organize a simple sales process for","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=647s"},{"start_seconds":654,"text":"their tokens and they we're putting there also established amm smart contracts that are that are able to","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=654s"},{"start_seconds":661,"text":"create liquid markets for their investors so in short this is Aurora Cloud this is a tool that helps everyone and helps web","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=661s"},{"start_seconds":670,"text":"2 to transform into the web 3 and all of this is possible because of the near blockchain and great technologies that","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=670s"},{"start_seconds":679,"text":"are developed together by near and Aurora thank you very much","url":"https://www.youtube.com/watch?v=bK-l9UZERek&t=679s"}],"youtube_url":"https://youtube.com/watch?v=bK-l9UZERek","url":"https://near-pedia.xyz/videos/bK-l9UZERek"}