[REDACTED] Day 1 | Reclaim Your Sovereignty

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   welcome everybody please come in take your seats our program will begin momentarily also as a courtesy to our presenters and those seated around you please silence all communication devices our program is about to begin we will grow that's the way it goes even go we will come T the go

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    w please welcome from near Foundation David Morrison mus music louder louder louder louder louder Gary guinsler you're fired ladies and gentlemen we are so back welcome to redacted 2024 as you know this is an event by

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    near but it goes so much further than that it's more than just a conference it's an IRL movement it is an opportunity for you to give a big middle finger to Big Tech and to reclaim your sovereignty and we are doing it all together let's go so I'm not a Marvel fan but it is my absolute privilege to welcome the Avengers of the near ecosystem of user own AI of Chan abstraction you are going to hear from Alex skidanov alexenko

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    Kendall call Bo Wang and of course NE protocol's co-founder IL aukin so please give a big round of applause for Ilia and let's kick this off right let's go hello everyone hope you're having a great morning uh I want to thank everyone for coming and if you're across kind of broad of three ecosystem joining this movement uh I think this is something that's at the core of the spirit INB 3 of

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    reclaiming your sovereignty of controlling your assets controlling your data your own choice and it's exciting to see this movement continues growing and uh we continue advancing this Mission so today I want to talk about near being a blockchain for AI and I want to introduce um kind of what we've been working on across the stack and then we'll have uh dve in from Alex kidan Alex chenko Kendall and Bowen talking about how different pieces of what we're working on fit together and

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    really powering this extremely unique opportunity we are in right now so first of all I want to say huge congratulations to the protocol team and this whole near ecosystem for launching Nightshade 2.0 let's let's give a this is something that we set out to do back in 2018 to build a sharded block chain that is able to continue scaling for any demand coming in for billions of users for trillions of transactions and it took us some time it took a lot of

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    research it took a lot of development but nitr 2.0 was the biggest upgrade since mayet went without a hitch we have not had any downtime in kind of uh in the network and kind of the protocols continue upgrading we just had another upgrade actually today uh reducing gas usage increasing throughput of the network so it's amazing to see this progress and I'm really exciting for excited to hear Bowen's talk with more details on that now what this enabled among other things is to make near the

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    home for Consumer crypto right instead of uh paying you know massive fees waiting for long transactions instead of you know having unreliable Network where you send a transaction and 30 seconds later it says block has expired you have something where you know users can unboard really easily and start using they already have you know effectively a consumer experience that they're familiar with in case of Kai Kai and

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    sweat and are able to use this extremely easy right and we have especially I want to call out Kai which had 250% growth in their user base since the year start uh hot launched this year and grew to 20 million plus users 4 million monthly active we have sweat continue kind of innovating and progressing and kind of showing massive usages play Amber we have meteor we have sender we have lots of lots of applications growing on near really providing this functionality uh across the

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    board now the on the other side near ecosystem you know has been growing and there's a lot of going on but it's always not going to be enough there's still lots and lots of interesting things happening across web 3 and this actually for me personally have been a very challenging state where you're like oh should we try to pull the projects to near and should we try to convince them and kind of enters this uh

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    effective like zero s game or should we actually make it easy for everyone to work together right and so um kind of through few iterations right originally it was blockchain operating system we introduced chain abstraction really allowing to interconnect all of the applications on all of the chains together in a seamless experience there's a ton of work happening again Kendall will dive in into this we had uh chain obstruction incubator launching

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    just amazing projects building on this St on the stack enabling kind of next uh level of innovation here finally this year we've introduced user owned AI this is something that's very close to my heart uh I've mentioned this many times I've been thinking about AI since I was 10 I was trying to build you know first things when I was 14 I started working when I was 17 in a machine Learning Company because I was excited to do this and I went to work for Google research because I saw that there's an opportunity to do something

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    with neural networks and we started neari originally because we saw the technolog is evolving and you can do really interesting things uh back in 17 now the challenge that continued kind of across all of this thinking has been that to really build this you need to build a company you need to build a centralized place which will collect more and more data and create kind of bigger and bigger um kind of mode around

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    it so you can make more money so you can invest more in research and development right this is how Google done it this is how open eyes is doing it this is how uh kind of even Facebook is doing it even if they open source it and this actually is contrary to you know the reducted movements the web 3 and in general what we're trying to do right how do we bring this into the hands of the users enable

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    the users themselves to benefit from this technology and uh always be kind of in control and so that's some kind of the user owned AI Movement we introduced and it's going to take a village it's going to take a massive amount of work across the ecosystem to make it happen so I kind of uh introduced a stack that we need to build this is mimicking what's happening inside centralized

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    companies and really building this kind of inopen as an ecosystem where you have a whole host of data and storage uh kind of providers everything from you know indexing new data crowd sourcing uh monetizing various data stream private in uh private computation of uh data as well as decentralized data storage you have a infrastructure and model layer where you have everything from training to inference to uh training specialized foundational models to agent

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    Frameworks and kind of agent payment layer and obviously have applications which actually benefiting from this in uh providing this benefit to the user so we've been having a massive growth with this ecosystem this year there's also obviously accelerator with Horizon with deli with better works we have communities across San Francisco and uh globally and so this been kind of booming ecosystem of projects really

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    pushing together what is possible and how we bring this user own AI forward now I want to showcase kind of how this things already coming together this is example of bit wallet which allows you to effectively talk to different agents which are can create transactions and interact on your behalf with a wallet and with other chain right so chain abstraction Ai and scalable blockchain all coming together into one really enabling this unique experience right for example interacting through safe on other chains on uh on ethereum

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    you can you know stake on near you can uh use potl through the natural language interface and it's extensible platform where people can build more agents and integrate them into this and if you want to learn more Nate is going to be talking and kind of showcasing how this works so I mentioned user own AI chain abstraction sharded blockchain so user own AI chain abstraction blockchain well these are not three different things this is one near protocol that really enables this unique

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    experience where you're interacting with uh Computing is changing to be uh powered by AI you have chain abstraction that effectively removes this boundaries between chains and between interactions um and assets you're doing and you have blockchain that can scale and power all of this in a robust way now changing gears a little bit why kind of the current world is not just kind of fundamentally broken because of incentiv but also product is not where

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    it is right where we want it to be first of all you know if you looking for like doing some Commerce looking for some product or for some service you have you know Google results which are uh effectively spammed with ads right this is their business model they effectively selling your attention to the highest bidder and allowing you uh kind of to guide you there and you go to some random website you need to go through a lot of clicks you need to sign

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    up now you don't know who did you give your data uh you you know use then enter your credit card you hope it's actually you know a safe place to enter your credit card and then you have to monitor email updates hopefully they deliver uh there's like unclear process of how to make sure this works now ai introduced a new level right we can now effectively interact with Computing in a natural way we can

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    talk to it and the challenges it lacks action right it can give you information but you know I'm trying to buy a road bike it gave me some options I can maybe ask it uh to refine the search but I still need to go and use Google for example to find actually where to buy it finally blockchain has built the most efficient speculating engine right I mean what we've seen with poly Market is amazing

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    because it's effectively a global speculation on elections which was extremely effective now the challenge is it is limited how much you can speculate in completed digital world if you don't connect this real economy if you don't collect this real value ad services and products for mainstream consumers and so far the blockchains have been focused on effectively some game as I said where

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    they're trying to battle for us for existing users and developers targeting them from different one chain to another kind of trying to rotate them uh and with throwing massive incentives right so we don't have this like how do we actually get out in the real world and bring real world to the blockchain so as an blockchain for AI we trying to power this user on internet right we're powering this kind of

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    movement where you own your data assets and Power of Choice and so to do that we believe we need to change the Paradigm again the current Paradigm is you're using search engine which is using advertisement you're using payment processors that you know uh taking its own cut you have effectively like a whole marketing Machinery behind the scene that is uh trying to Target you and fi kind of

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    rewrite what you're actually looking for to uh to Target you to a specific product you have obviously kind of algorithms in Tik to stock and Instagram and a which are benefit like that are optimized for making money for those companies not how benefits you how to get your wellbeing so the new paradigm is where AI is your interface with Internet it's your AI assistant that is able to understand what you want understand uh kind of your needs as well

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    as plan longterm how to you know grow your uh networks how to benefit your overall well-being and now this interface is able to directly connect with products and services around the world and on blockchain to actually have this direct relationship and find the best product right AI assistant doesn't care to look at you know the first few links in a Google search it will look through you know T of thousands of

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    options and find the best one for you and so this is kind of the new paradigm and in this Paradigm you still need a middleware right you need still a connectivity tissue that will connect your AI on the front end with Services AI agent smart contract on the back hand to really power this economy and that's what n is doing now we're introducing a new concept and this concept is intense this is a new type of a transaction that

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    allowing effectively anyone to uh come into agreement with other parties to exchange assets Goods services and it comes with a lot of different functions so again let's think back what is missing from a blockchain right now we have transactions you can you know pay someone in around the world for a fraction of a scent but we don't have real Commerce we don't have real Services because there's terms of service there is regulations there is uh you know Services sometimes don't get delivered and you need or Goods get lost

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    you need a way to ensure it and you need to way to make sure uh to have some Ser service provider to respond to you and so all of this is now comes in into a new model where in the intent itself you can attach effectively your information you can sign the terms of service you can have a dispute resolution which includes uh insurance which includes uh even potentially a contract effectively that will be uh used in court and importantly this works between users

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    their AI assistants other AI agents and regular services like everything from a restaurant to a bank can be running this uh on this model and be able to provide services to to the global World finally this abstracts all of the kind of different technologies that we've been building around change tokens agents contracts and really provides a single interface that is extremely easy to use

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    and we'll you'll see more how this works uh right now from alexenko now to just give you a little bit of taste what is this look like right your AI assistant you know as you wake up in the morning it already predicts what you're going to do what you want and it in the morning reaches out to the you know newspaper and fetches effective L uh a set of headlines and their costs right now your agent decides that um you will want to

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    read summary of the first three and it pays a little bit with a micro payment uh to the newspaper to receive them it then summarizes it and gives you recommendations uh in your UI now you wake up you click uh you know you scroll through the feed again this feed is prioritized for you to really kind of benefit your like information based on what you want to know based on what you're interested in now you actually want to read one of the Articles beyond

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    the summary and so you open it and now your AI goes and requests the full article and in this case uh it's actually worse getting the uh not not paying for it but actually getting the ad right and so now using the trusted uh execution environment on the phone uh there's actually attestation that you have watched the ad as part of reading the article that is being paid effectively to the newspaper that it can cash out from the advertisement right so this is all effectively this intent flow that allows to exchange

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    attestations and information and settle all of this on chain uh as as the transaction concludes and another the example this is something uh kind of close to my heart when the war broke out in Ukraine uh we have started a effectively crypto donation fund that was Distributing funds and doing a lot of different efforts and it was hundreds of volunteers effectively working like 20 hours a day to really coordinate collect

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    information you know help with fundraising and so you can imagine actually talking with your assistant saying hey I need to start like I want to start such an effort and it actually helps by starting a number of other agents that are actually running in the background and executing different tasks so you can have a fundraising agent right that actually reaches out in directly to people explain to them the situation and how the efforts of this

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    Dow specifically will be uh executed it has another agent that is actually receiving information and requests from uh people in need and processes them evaluates their as well at stations for example their location their kyc uh in Ukraine there's a bank ID for that and uh based on that distribute small amounts of money as well as it realizes there's requests from people uh that require actually shipping products that

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    are not available in Ukraine and so it goes and procures them in Germany and Poland this is actually what we were doing sends them to the border and then volunteers actually drive it through Ukraine so this was coordinated by hundreds of people but you can imagine a set of Agents actually working on behalf and you know there's still people will be involved in uh validating some of the decisions but a lot of this work actually can be uh effectively automated through this

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    model finally you know running a startup one of the most painful things is uh filing taxes and finding uh the best provider so you can imagine your assistant actually reaching out to Discovery agent in this case which gives you different options for what you're asking for and from this options you know you can select it can give you more context and it sends all of the accounting information to that agent

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    specifically now Alex skidanov will talk more how we doing privacy and how the agents uh can run in specific and uh trusted execution environments to enable that but what this means is even the developer of this agent is not actually receiving your accounting information it always stays private and secure and you're just getting back the filing and you can you know maybe check with other agents as well to recheck this

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    information so all of this is the vision but it's actually not that far uh today we're going to uh open up a near AI assistant it's available on chat. near it is an alpha it is still uh you know will continue iterating but we wanted to open it up we wanted to make it open source and wanted to open for people to uh start developing the model and kind of the way it works is youri assistant is effectively able to call other agents kind of other functionality and through that you can continue permissionless

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    expand what the AI assistant can do so let me give you a quick example right so this is your AI assistant chat. near and uh first of all it has local memory about every User it's able to associate it with your near account so it's able to actually remember things as you're talking to it and use that memory in different things it is a generic kind of you know uh chat assistant so it can answer you know questions like where where's what is bangok famous for in in

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    normal way but importantly it also can do actions uh very similar to uh what I show this bit uh for example you can create a meme coin about frogs at a party and it will go and generate not just an action but actually generate a whole web page uh that you can uh deploy to a website right so this is fully generated by I and obviously you can edit it if you want it can uh you know create the image and it actually can go and deployed to the uh meme launch

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    platform that we have meme cooking right so this is uh fully done by an AI agent uh that is specifically designed for launching uh meme coins and you can call it from your assistant it detects kind of your intent to be uh creating a meme coin and routes it to this uh agent so it takes a look bit of time to show up uh on on the meme cooking platform now you can always go and you know um like

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    say something like hey make a mcoin was my favorite color because it actually remembers you know what is your favorite color again uh shared memory across all of the agents and I think we should see it now yeah so it showed up so you can you can try this now yourself on chat. near log in with your near account you know create a meme coin let's you know let's make a few hundred mem coins right now now the other example I mentioned this is not just for web 3 so this is example

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    you want to do something with web two with proper Commerce so for example you want to buy a Neo t-shirt right so you go shop what do do actually generates a UI on a fly because it knows you want a not just an inter you know a text interface but actually a rich UI where you can you know look for different options you want to select different sizes and you're uh and you want to effectively provide an address what this

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    does underneath again it works with a shopper agent that uh receives your information sends it to the uh service that will be delivering you uh t-shirt as well as helps you create a transaction to actually pay for it so this is example where it actually shows you that it calls The Shopper agent uh kind of the first time you can allow it always do this and it says hey it going to execute a transaction on your behalf uh do you want to do this and so this is kind of executing the payment and all of

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    that as all of this is done it actually ships that to uh order to the uh service that actually provides uh shipping uh for the t-shirts so this is the example again of web 2 and web 3 working together from one AI interface it's not just text it's Rich interface that allows to have kind of Rich interactions and and it's able to generate them on a fly for specific use cases and you can

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    kind of customize it for yourself and it's able to remember how it works there's a lot more work to be done and again this is an open platform anybody can come in contribute uh and you have a GitHub near AI uh to uh to contribute to the platform as well so I will pass it now to Alex kdov the co-founder of near as well as cound of neari who's been working on the research side that

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    actually going to be powering the future of this techn ology test test one two how you guys doing okay let's talk about uh artificial intelligence um if you if you look back at the history of Technology uh if you look at what's been happening with u search Social Mobile it always Begins by something new and exciting uh something that changes Our Lives to the better and then one or two

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    companies fully capture uh the whole you know attention whole value from the uh from the new market and then you know a decade later that market is entirely you know used to capture every little every single dollar of our um of value without producing value for users anymore right so with search if you go to Google today it's almost impossible to find anything with social it's all optimized for your attention so that you spend you know more and more time on in there and artificial intelligence is in a very similar space

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    right now in a very similar moment in history where we are still at the moment where we're very excited about something new but we already can see that you know one two maybe three companies are fully capturing value uh and that will create a uh a data wheel uh that will effectively make it less uh more and more hard for uh for others to get throw them in the future uh and as long as you know if you like me believe that AI will be a very big part of our interactions with the internet

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    with the world uh with the practically everything in the future that means no user owned internet uh no user Centric future is possible as long as large language models are controlled by large corporations and if you look at those AR operations they have like like if you think of open AI on Google Facebook they have data experiments compute the best researchers all in the same place are all very nice centrally orchestrated right so that allows them to iterate

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    very quickly while outside of them if we wanted to replicate it in a decentralized fashion first of all we don't have access to uh resources that are of the same quality today uh second of all even the resources that exist they all spread out right so a person who tries to to um to push it Forward they have they spend a lot of time you know looking around finding things that they need and we want near near is in a sort

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    of unique position to try and go ahead and solve it because uh relative to web two companies right such as you know like any any web2 companies company that would try to to Dethrone you know hypothetical open AI we have years of experience of pulling resources together of orchestrating a large sets of people in a decentralized fashion something that is absolutely impossible in web 2 um uh you uh you know sending micro payments annotating

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    data Etc while relative to web three companies near is in unique position because near internally has a lot of experience building artificial intelligence U one and only of my co-founders is literally the creator of Transformers so it's a uh you know nobody in the world is positioned better than near to make this change and so correspondingly it is effectively our responsibility to drive

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    this uh this Innovation forward and effectively the way we want to do it the way we're doing it today is we want near to be a uh central decentralized place uh for all the things related to AI so that all the data sources all the models all the experiments uh are discoverable uh agents so that you have access to compute you have access to data annotations in one place uh and yet each of those is coming from various ecosystem projects from different uh decentralized entities right and none of

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    that you know nobody disappearing tomorrow because they ran out of money or turned out to be you know malicious from day one affects in any way uh the whole effort so before I get into uh the fun part let's address the most important part of uh decentralized di the decentralized DI one way or another needs to be private when you interact with ch GPT you know that your data goes to open AI but at least you can assume

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    that you know um that open AI has at least some effort to protect the data it's it's a bad place to be in but it's not as bad as if you were using some decentralized a servers where you know some random person is running a machine with a uh h100s and your data just goes to them and they sell it to the lowest bidder highest bidder uh and uh interestingly private AI is possible uh and the the way it is

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    possible is all the modern CPUs and gpus allow uh a technology called trusted execution environment something IIA mentioned during his talk uh which effectively says that if someone let's say me has a computer and I'm a malicious actor you should never trust me uh and you have some computation you want to do but you don't have access to compute you can send it to me and I can execute it in a trusted execution

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    environment and you will be absolutely certain that I had no idea what was happening on my computer uh I could not see your data I could not see uh the code you're executing all I know that something was executed on my machine right and so that allows you to build all sort of interesting use cases it allows you to do private inference meaning that I could be running a model on my machine and you could come to me run inference on my machine I will not see your data uh I will not see what you

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    were doing with the in there right you can you can send any medical records any private data and you will have 100% confidence that uh that was not in any way seen by me uh it allows you to run agents you know like an agent provider says this is my agent it's open source it's you know it's beautiful it does everything you want uh here is the end point there is no way for me without trusted execution environments to know that the end point I'm hitting is

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    actually the agent that they see on GitHub with trust at execution environment I can do that that allows you to to have a network of Agents running uh in a on a decentralized network where you know for every agent that it is doing exactly what is promised you can use any secrets private keys everything uh and be certain at every point that the system behaves exactly the way you want and uh none of your

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    data is is going to any malicious or any other actors uh but the most exciting uh the most exciting thing that trusted execution environments unlock is that they allow us to create Frontier open source Lang large language models which are monetizable right so today if you think about Frontier AI you know like uh the the the models like you know llama 405b or gp4 or you know GPT 5 is probably around the corner they are massive training such a model requires hundreds of millions of dollars and

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    there are very few entities who can afford spending hundreds of millions of dollars to create such a model and then just drop the weights and say hey guys use it uh it's all yours right and uh you know if if the entirety if the whole future of Open Source AI is fully in the hands of meta it's a very Bleak future we have and with tees what you can do is you can pull together sources from people uh you can train a model entirely inside of the tees using open source code uh open source data pipelines uh

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    and then get the model that is open source meaning that the source is open but not open weights meaning that the weights are not seen by anyone uh and yet anyone can pull the the uh the encrypted WS to the air machine and run it inside the KE but the KE would only serve the model to you uh if you establish a payment Channel and pay for the usage right and the and the price of the usage could be extremely competitive right it could be competitive with any

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    inference providers that exist today but you know that the model once it is trained will be monetizable every usage of the model will be paid for and therefore you can actually pull together those hundreds of millions of dollars and have those people have a reasonable way to expect to repay their their uh contribution uh from the usage of the model so that is extremely exciting

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    because that technology actually gives us you know gives us a path towards the future in which the frontier models are created by the community for the community and served in a decentralized fashion um without without sacrificing economical viability so that is probably the most exciting uh area that we are exploring right now this is uh effectively the way this is a little diagram which highlights what I was just describing right Bob who you can clearly

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    see is not a good uh good guy uh has a machine uh and the Machine is fully controlled by Bob right so like he can he can open it up he can use a microscope to like inspect every little transistor in the processor uh but there's a trusted execution environment within his machine and everything that happens in The Trusted execution environment L is can trusted but most importantly the protocol as a whole can trust it right so the protocol as a whole can know that the model once deployed to any of the machines with the

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    te will not be used without out proper payment back to the uh to the to the Dow that initially created it so it's a yeah and payment channels obviously is something that we know works very well uh there's there's a way to to build this technology such such that payment channels are open between the trusted execution environment and the and the user so it's a it's an exciting exciting technology and exciting Way Forward for user owned

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    AI the only problem is it's not enough to train a very large language model ideally you want to train a a large language model that is good right so so for example if you think if you think about lama 405b lama 405b in terms of size is comparable to gp4 uh or clae 3.5 uh but in no way is L 45b competitive with those two models right so even Facebook with all its resources cannot train a model that is competitive with an open AI model so how could we without having access to researchers

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    that Facebook has today train a model that will be competitive because if the model is not competitive you cannot monetize it people will not use it right now the way we approach it uh is we we start uh a series of competitions where we're just going to bring all the researchers who today uh don't work for open AI right there are students uh all over the world who are um getting into

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    AI today a lot of them are extremely talented and extremely knowledgeable who do not have a way uh to get access to compute to get access to uh to good data to get access to other resources uh and we will provide access to those researchers and a way for them to compete and show you know that they are the best and they can contribute to the best model in existence and you can think of it of course we cannot have a competition you know we cannot train a one trillion parameter model in in such

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    a way because you know even training one of them cost hundreds of millions of dollars but you can try train a small model and you can begin with like a half a billion parameter model which is small and then you can have thousands of researchers simultaneously competing for training the best half a billion parameter model and then you take the best of them those of those who who show that they are promising and and can do exciting things and all of them go to the next step and now we train the best

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    two billion parameter model right and then the best of those Advance further uh and at each step you have fewer people but those are the best people and uh but you need more compute you know fewer people more compute it's the same amount of resources you need to spend until you get the very best uh you know 10 to 20 people working on the very large language model that will be competing with the gp4s and cloes of the

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    world and that's uh that's a that's an exciting way to to enable first of all to enable people who are very talented but don't have a way uh to um to work for those uh large companies either because of uh uh their you know because of lack of opportunity or because of their values right not every person wants to contribute to the evil Corp uh you know to get more and more of of user

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    of user data and user attention so for many of them that will be the way to apply their talent to show what they can do to contribute to open source AI uh and to get rewarded for that cool uh so that the first competition is starting effectively now uh that will be a competition to train a very small high billion parameter model so let's together train the uh the small one and then uh we have a plan uh we will publish it very soon uh effectively you know in a in like six seven steps we

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    will get to uh to very large numbers which are way more than half a billion you know 400 billion trillion Etc so every everything I was talking about today uh a lot of it is uh live at app do.ai it's a hub for all things AI data sets models compute uh it's a place where the competitions uh will be hosted uh so the you know the future of decentralized AI has never been brighter uh so yeah let's build the future

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    together uh with this Alex shenko will take the stage and talk about uh very exited thank um hello everybody uh I'm going to talk about intents for agent cooporation and in order to start I want to share with you one quote of a person that really changed all of our Lives Albert Einstein so he said that there will be trillions of AI agents and maybe one of them could win the next us elections against Elon Musk and obviously this is a joke because Einstein knew that Elon Musk was not born in us so he cannot run for

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    presidency right but in every joke there is a grain of truth and the grain of Truth here is that there will be trillions of AI agents just count it by yourself there are billions of people uh there are hundreds of millions of Corporations and they have at least you know 10 to 100 Services inside of all of these corporations we are going to hit this number this is the decentralization

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    of the AI agents that we are going to face and the question is how they are able to cooperate and there are multiple stages of the cooperation for the AI agents that in place they need to discover each other they need to figure out that some AI agents are specialized in ordering a coffee and others are specialized in closing your banking account they need to figure out how to settle in between them and uh this means that they need to figure out how to pay how they can be accountable for what

93. 53:19

    they are uh promising to each other payment channels is another interesting thing so everybody have heard multiple years ago about uh microtransactions and stuff like that it was never picked up with the with people just because people for people it's not very convenient to use microtransactions but for AI agents as long as they have the access to compute well they can microtrans with

94. 53:44

    each other and the most convenient way how to do this is through the payment channels and in the end obviously in case something is not working we probably all have seen how large language model are not given to us what we expect them to give to us there needs to be a dispute resolution mechanisms it can be automatic onchain or it can be outside of the chain with you know experts coming in and figuring out how to settle now the thing that we are

95. 54:14

    bringing today is that all of these things are going to be available as a core part of the new protocol and this is our vision for the future of the infrastructure for AI agents corporations now a little bit into this Vision the decentralized message bus that is going to work in parallel with the near blockchain itself is going to power the communication and discovery of the AI agents um as Ilia said we're going to introduce a new type of a

96. 54:47

    action in the near protocol specifically for recording and settlement of the commitments and the third thing is that we're going to open up a we're going to create a new standard for payment channels that are going to settle on top of the blockchain and um already many people have been talking a little bit about the payment channel so just want to throw in something into you so you understand it

97. 55:12

    a little bit more so the payment channel is a a construct that allows you allows two agents to create a channel as a transaction on the network or on the blockchain so this is like an opening transaction and then they can send money to each other uh many different times or many times and then only settle on blockchain with another closing of the payment General transaction right so that's the thing that is going to be introduced and obviously you're going to

98. 55:45

    say to me yeah yeah the vision for the future infrastructure yeah very interesting Alex as always uh but this is not the thing this is the that I'm delivering to you on the vision s uh but if you know me I always trying to ship something and give something into your hands so you can try it right here right now and the first use case for the intent uh for intents on new protocol is something that you able to use right

99. 56:18

    here right now and this is a multi-chain deex so kind of not very funny right but actually it is fun I will encourage you to to check it out but before we're going to take a look at the demo I would like to pay your attention to four abstractions that are introduced in this product first one is obviously chain abstraction the tokens the chains that this deck is integrated uh it's not only a single chain right uh near Bitcoin

100. 56:53

     ethereum arbitrum and base are integrated right right now and more chains to come we do have a wallet abstraction in this solution so that it doesn't matter with which wallet you're going to sign in currently we support near wallets all of the near wallets that support message signin and also ethereum wallets including metamask coinbase wallet wallet connect wallets and all this all of this stuff is there the third thing is a token abstraction

101. 57:23

     everybody are tired of use the C on base usdc on ethereum there is only one usdc in the platform there is only one usdt on the platform there is only one eth so it feels like a centralized exchange and the last and the most important is that there is a contract abstraction users are not calling any contracts users are not um signing transactions that they don't understand there is no blind sing that is happening there that causes lots of problems especially in cases when the supply chain of the front end is compromised so

102. 58:05

     let's see it in action you are going to app. near intense org and you're able to connect to it with metamask directly by the way everything that works here is going on the near protocol right so I'm choosing the deposit token and this is tether from the ethereum blockchain I'm copying the deposit address going to my metamask and I'm just sending tether to this address exactly the same way how

103. 58:36

     you have been sending um tokens to your centralized exchanges uh of the choice the deposit is received and now you're able to do the swapping swaps are happening in between usdt and usdc please know that there is no particular chains that are connected with it and you're able to withdraw usdc in this case in base you put in your wallet address and you sign a message you're not signing a transaction this is just a message that you have signed and it's

104. 59:10

     settled on near protocol and if you will check it out there is this usdc available on your on your account with the rest of usdt we're going to do something that is even more crazy we're going to swap it into Bitcoin directly you're again going to sign a message for doing the Swap and you're going to withdraw this Bitcoin into the Bitcoin blockchain by again signing a message and and just like that Satoshi got approximately $50 um uh worth of bitcoin into his

105. 59:53

     account um what we you have just seen is a reference implementation for the intent protocol it is not intended to be the place where you can go though you can do it right here right now but this is something that we see that is going to be incorporated in all of the wallets in all of the front ends that have users um uh this is not kind a final product but instead this is a platform that everyone is able to use in order to give this uh solution uh to the users

106. 1:00:27

     now there are more things that are going to uh to be developed within the near intent par Paradigm uh obviously the first things that we're going to focus on is adding offchain services and AI agents for this um so a little bit of a different types of intents rather than just swapping one token into another right there will be new chains that are added in these lines uh these lays uh

107. 1:00:51

     inside of the direction of the chain abstraction so the first chains that are going to be Ed and we're targeting for ton and salana to be added by the end of the year uh and even more chains are going to be added because of the unique uh position of the chain abstraction narrative in near protocol we are able to do everything that you have seen with the chains that do not have any smart

108. 1:01:16

     contracts and to my best knowledge the uh the this type of swapping in a permissionless manner is the first in the industry um we are going to integrate all of this with applications and uh market makers and solvers um uh right away again we are not keeping this inside but instead this is an open platform this is an open protocol for everyone so uh if you would like to see this on your website just uh get in touch with me and we'll figure

109. 1:01:47

     out how to do this we're going to help you to integrate all of this this solution just on in the realm of um aifi uh we are going to add additional pieces of this financial infrastructure into this this platform including account F or the ability to U trade accounts lend accounts to other people uh we are going to introduce a shared liquidity pool against which the market makers will be able to borrow which is going to make the swaps even more

110. 1:02:20

     efficient uh lending is going to be introduced and more and more of the other Primitives uh as I said already a couple of times the platform is open and anyone is able to introduce their own types of intents that they would like to be available for everybody and for the front ends to use and uh lastly all of this is working as smart contracts on near right now but as I was saying we would like to integrate it deeper in the protocol level to make it even more

111. 1:02:50

     efficient and as a standard for everybody intense power the future of near as the blockchain for AI and I'm super excited that we are building this thing all together with all of the community you're able to access it right here right now with your near or metamask wallets you can forget already today about using your centralized exchange for swapping this usdt into Bitcoin instead you can do it directly on the near protocol in a decentral manner go and check out near in.org

112. 1:03:39

     and I'm happy to pass it over to Kendall who is going to tell you a little bit more about the chain obstruction thank you so what's really really fun about working in near right now is that uh everything we're building here is not just for near anymore it's actually for every single chain and as Ilia pointed out it's actually goes even Beyond web 3 in general and we're going to be able to connect to really anything on the

113. 1:04:13

     internet and hopefully actually change a bit about how the internet works uh but today we'll focus on you know what we're going to be able to bring to all these different chains that are out there and why we're super excited about it uh you know and I think when it comes to really making AI agents work in crypto and solving a lot of the problems that we currently have uh what's going to be really required is that each AI agent has unfettered access to the entirety of the crypto space this

114. 1:04:39

     includes every single crypto asset this includes every single smart contract and really every single piece of State uh this is part of the reason that we've been so focused on this concept of chain abstraction it really is to make it so that developers and users are able to interact with every piece of state every asset everything on every single chain as seamlessly as possible the way that

115. 1:05:01

     we're making this work is using the near abstraction stack so Alex uh just introduced a really important part of that stack which is the intent layer uh we also have two other really key pieces of Technology one is chain signatures and the other is the Omni Bridge so to give you an example of how this can kind of work you can imagine that a user first uh creates an intent basically submits a request to this intent and

116. 1:05:24

     solver Network once the the auction is kind of decided once like a solver is sort of chosen uh either by the user or or through a programmatic way that fulfilled request will then turn into a signed payload that can be relayed to a destination chain uh and that's using chain signatures and then once that's complete let's say that that there was a Bitcoin transaction that landed uh often times there's going to need to be a settlement process that happens on the

117. 1:05:49

     near side and this is where near as a blockchain will need to have access to that finalized State transition on the Bitcoin blockchain and this is going to be using the Omni Bridge which is effectively a wrapper over some different message passing layers or even light clients depending on the chain that will let the near uh smart contract know that that state transition on a destination chain has finally landed so

118. 1:06:11

     the most important takeaway from uh the piece of technology that I'll Focus the most on today which is chain signatures is that we now have enabled smart contracts to sign transactions and this is a really really interesting design space that we're seeing a lot of teams start to take advantage of so here's a little bit about how it works so you can imagine on the one side we've got this near account that's on the near blockchain that will be

119. 1:06:33

     originating some type of signature request so it'll call right now this signer contract on the near blockchain with a payload of cryptographic payload to be signed and then basically the address that it wants to use to sign that transaction then the real magic we have here is this network of uh multi-party computation noes you can basically imagine these as uh a large group of distributed entities uh that

120. 1:06:57

     have one part of like a key share that can be combined to sign for a private key that none of these individual parties know and the goal is to make this group as large as possible eventually hopefully resembling the makeup of the near validator set so this group will listen to requests that come in on that signer contract and they will then take that request and sign it uh using deterministic derivation function they'll basically ensure that this near

121. 1:07:22

     account is the only one who can originate and sign for this request they'll then return that signature on the near blockchain um which creates a perfect audit log of request and then response so you can verify that this was done correctly and then finally that transaction we pass to a destination chain and this is how you enable near smart contracts to sign transactions for Bitcoin and Dogecoin and ton salana any

122. 1:07:45

     chain that comes up with any of the thousands of chains that apparently are going to be launching over the next few years you'll be able to use this technology right now we have about two dozen teams who are building across three major categories um the first one and one I find particularly exciting is Bitcoin in 2024 we've really seen I think a Resurgence of uh well a realization that Bitcoin is kind of the

123. 1:08:09

     OG of crypto assets for a variety of reasons it's going to be extremely important to continue to utilize uh but to date it's actually been pretty difficult to build with Bitcoin in kind of a trust minimized way fortunately using chain signatures we're able to enable teams to tackle some really exciting use cases uh on the one side we've got Bitcoin lending it's surprisingly difficult if you have Bitcoin on the L1 to borrow against your

124. 1:08:33

     Bitcoin Step One is usually some type of bridge that has quite a bit of latency we're going to be able to really remove this using chain signatures part two runes trading uh you've probably heard a lot about this as a primitive people are very excited about the ability to issue assets on bitcoin but to dat that experience has been very limited when it comes to actually trading these assets because the the Bitcoin layer one itself is limited and then we of course have

125. 1:08:57

     several other use cases here like reaking uh or building liquid stake tokens on top of these reaking platforms uh we have several teams who are tackling that challenge to give you a little bit of an example of what this can look like from an experience perspective uh this is actually a fork on test net of the largest lending protocol on near that's empowering uh this Bitcoin experience so you can see here I've actually connected my Bitcoin account using uniset to this lending

126. 1:09:22

     protocol and you can actually see like a test that Bitcoin bance right there uh I can then actually just decide to borrow against this Bitcoin balance uh after I've deposited into the protocol you see here I'm going to like Supply uh a little bit of Bitcoin uh and then this transaction request that pops up is actually for uh my from my unisat wallet uh because thanks to this chain signature technology we are able to let users bring their existing wallet any

127. 1:09:46

     Bitcoin wallet that they that they have their Bitcoin custody in and then they're able to basically interact with this protocol just by signing a message uh using that wallet and this same pattern can be replicated across anything so Bitcoin users are able to be met where they are in their Bitcoin wallet but then get exposure to all these different usage patterns and all these different uh new experiences the next category we have a

128. 1:10:10

     lot of teams building in is uh I think particularly interesting because it really changes the way that you can reason about like how you're designing your protocol and what we mean by that is you no longer have to think in terms of of how you're going to deploy your protocol on one chain then you deploy that same protocol on another chain and then think about how maybe those two different versions of your of your protocol interact with each other you can actually design your protocol uh to

129. 1:10:34

     be completely agnostic to the eventual chains that your users will be interacting with to give some examples of of how teams are using this uh Alex already showed an example of the near intense layer which is basically making it so that you can swap any asset between any chain we have a couple of other teams who are working on similar products like Omni Lane and thesis who's building a uh a margin based spot protocol that will actually allow users to deposit any asset and leverage

130. 1:10:58

     against it um we have teams building lending protocols particularly targeting very popular but underutilized assets like an xrp uh or a Dogecoin or even a Bitcoin uh and eventually you will even be able to borrow against your entire portfolio of assets that might spend across multiple chains and open opening up an entirely New Capital base uh and then we of course have teams building in

131. 1:11:20

     like the the uh yield space the reaking space that will allow you to restake any graphic asset across any chain to show a little bit about how this could work very similar to the example that uh Alex gave earlier this is a team called Omni Lane uh who's built cross chain swaps that um will enable you to swap between any two assets on any chain uh you can see here I basically connected my menam mask account and then I'm just going to go through and swap from the polygon

132. 1:11:45

     test net over to base uh and it works pretty similarly to the to the uh the intense layer where you'll basically find a solver who will fulfill this for you in just a matter of seconds and this experience to be replicable across a variety of chains and then last but not least we have account abstraction um we have a lot of very exciting teams building in this space particularly bits on like the kind of AI agent powered and user experience um we have one of the most

133. 1:12:10

     used apps in crypto if you're familiar with the hot wallet which is built in telegram we've actually deployed 6 million account abstra chain uh chain signatures powered wallets that can actually like custody assets across a variety of chain um and then we have teams like sweat who is one of the the largest kind of mass Market user apps in is now able to exp bring their 100 million user plus uh base uh across a

134. 1:12:34

     variety of different uh of different blockchains and applications and then tomorrow you guys will be getting a very special announcement from uh a very exciting team who's who's building in this space as well um I think what's super exciting about like what bits has been able to do is that they can take a new design pattern like a pass key based wallet uh and they can let you create a unified balance across a variety of different chain so like you can see here um that I'm actually have some ethereum

135. 1:12:59

     on a few different chains in my bits of wallet and I can actually go and I can just connect my bits of wallet to Unis swap or any other uh any other application that supports wallet connect and I can suddenly send transactions from that application so you can see here I'm actually like sending this this unisoft swap approving it on the bit side I'll actually sign using my uh Pass key on my Mac and then I've completed this transaction you can see I now

136. 1:13:23

     swapped from some ethereum on base to uh to some usdc on a different chain um and of course you can do this through uh the AI agent uh platform as well so those are three of the areas we see a lot of teams building in I think uh a really cool direction that we're going to be able to go that's uniquely unlocked by this MPC technology is actually building truly Unstoppable autonomous AI agents uh so we had Alex gdov mention earlier how you're going to be able to basically receive a uh

137. 1:13:56

     verified request from an llm by using a trusted execution environment that's a really exciting primitive that lets you interact with uh an AI model and know that you were served from the AI model you're aiming to interact with uh but I think what's even more interesting is when you combine this with the key resiliency of the multi-party computation technology you can actually have these agents that'll just live as

138. 1:14:18

     long as the network lives uh everyone's really excited about the idea of well effectively enabling like a Skynet uh but no one's really put together the pieces to actually Empower this today so like we see a lot of hype on you know Twitter right now about what what is going to be able to be unlocked with these Primitives uh and I'm excited that we're actually going to be able to deliver this Tex stack immediately so you can imagine that you basically have that AI agent that will be like have

139. 1:14:42

     most of its sort of uh information in state either living on the near blockchain or a variety of decentralized Technologies a user will then be able to prompt this agent you'll see like a trusted execution environment where someone's running this model that'll basically return the response and then the proof of the response using the remote ad testation uh and then this this uh this response will be able to interact with a near smart contract to then sign something somewhere uh and because this smart contract will be

140. 1:15:07

     using this distributed MPC technology what that means is that in order to take this agent offline you have to take down the entirety of the network which is going to be extremely difficult to do so this is how we can unlock these kind of truly perpetual and autonomous AI agents um which you know we're very excited to see how people build with us so uh now I will pass it over to Bone

141. 1:15:29

     Wong who's going to tell you about how the near blockchain itself works and how we enable all of this to begin with hey everyone um how are you guys doing yeah so you have heard a lot of very exciting uh new stuff from the uh previous amazing speak speakers and um I'm going to talk about something that's uh already existent but hopefully uh equally exciting uh this is how we build the most scalable blockchain so from the very beginning uh

142. 1:16:07

     near star with's vision of building uh fast cheap uh protocol that can scale to meet the needs of billions of users and now also AI agents and the primary way we achieve this is through blockchain Shing uh so blockchain Shing is basically this the uh scaling approach that divide the global state of blockchain into Shar States so that no validators in the network need to track the state uh of all the shs and as a result the network can scale with the number of shorts uh

143. 1:16:39

     it has oh sorry so uh back in 2019 we came up with this uh nce design uh for completely shed blockchain and before that uh all the prior art on blockchain sharting pretty much uh is what we on the left hand side uh which is that you have one Beacon chain and for each Shard you have a Shard chain and there is some complex oxidation mechanism so that allows you to communicate between different shards uh but it's actually very difficult to implement because uh

144. 1:17:11

     when you have one blockchain per Shard then it can have its own Forks when you want to communicate between two shards you can you need to think about which Fork uh it's coming from and which Fork it lands on and what happens if it gets reworked uh all of those problems do have some solutions uh but it requires uh very complex Machinery to make it work uh and one of the key Innovations we did uh with NI shade is that we say well instead of having that complexity

145. 1:17:36

     how about we just have one chain that rootes them all uh so this one chain that has blocks that contains chunks which are shart blocks from each chart and this greatly simplifies the design and this is what we did um back in 2019 the first uh version of near white paper uh it's designed for complete shorty blockchain and has uh this asynchronous execution environment uh if you want to communicate between uh two different

146. 1:18:02

     sharts or doing cross contract call what happens is that uh it first gets executed on the source chart and a receipt would be be generated and sent to the destination Shard uh and the security relies on uh fraud proofs and this is how you guarantee that uh no noes need to track all the sh while still maintaining the security of the network now five years later we made a lot of progress on implementing the original nitrate Vision uh but over the past year also we did a major overhaul

147. 1:18:33

     uh to the nitrate design by introducing stus validation uh and this is basically the foundation for the nitrate 2.0 that uh we introduced uh this year uh the reason for introducing St validation uh is threefold so one uh is because uh in practice it's actually very difficult uh to implement fraud proofs and to test them make sure that they're bug free and there is a very good reason why in the

148. 1:18:58

     optimistic rollup world people are still still struggling with deploying them uh into production uh and two is that it actually significantly improved the single Shar performance uh this is because before uh the biggest botle neck we have on single Shar performance was State access and the reason why those was problem was mostly because you have to do a lot of disc reads and that

149. 1:19:22

     really slow things down uh so with this design we actually make sure that the state is entirely held in memory uh we achieve this uh by having this two-fold approach where on the chunk producer side because it can we only need a few of them they can run more expensive hardware and as a result they can hold the state um of an entire shard in memory uh and produce uh chunks execute chunks um by having the state in memory and then on the Val side because um they

150. 1:19:52

     receive state witness they don't actually keep any state locally uh it's naturally the case that the state is held in memory when they execute the chunks uh and as a result because uh uh the validators don't need to hold any State uh locally uh they don't need to run as expensive Hardware uh in fact they can run pretty cheap hardware and this uh give rise to better decentralization meaning that we can run

151. 1:20:16

     uh we can have a lot more validators on the network and this is not just something that uh we designed and put into some kind of white paper uh actually over the past year also uh the team worked very hard on implementing this and we launched in August 2024 this is the biggest upgrade uh we did to mainnet since uh the original launch in October 2020 in terms of lines of code probably like over 100,000 lines of code changed uh this huge upgrade was down completely

152. 1:20:47

     life uh and with zero downtime so as a user as user you probably didn't even know that this upgrade happened and and it has to rely on us like telling the story that this thing actually happened to know that well this the main has been uh success successfully upgraded to this whole new version and now main that is uh fully sharded both state and transaction processing are sharded uh meaning that no validators need to track the state of more than one Shard and

153. 1:21:21

     today we have six shards on mainnet so that's a pretty good state to be in uh but in in my opinion that's uh just the beginning of a whole new era where we want to explore the limit of scalability uh we truly don't know today uh where the limit lies uh because in Siri the Manet can scale with a number of shards and not only that we actually also want to build this interesting feature called Dynamic resharding where the number of

154. 1:21:46

     shards on the network would dynamically adjust based on transaction load what that means more concretely is that if if you have one Shard that becomes congested uh let's say there's like popular app launching there uh then the system detect that and uh knows that it should split that Shard into two shards and conversely if you have two shards that are both idle or low usage then it would merge them back into one so let's imagine um in in the Sprite

155. 1:22:18

     future where we have 100 shards and each of each Shard can do 10,000 transactions per second and that would result in 1 million transactions per second which is 86 billion transactions per day it's it's a huge number and we do need that uh if if we think about the the bright future that uh you know Ilia Alex and other speakers have uh talked about where we have billions of users and agents or maybe even trillions transacting uh settling tents um and

156. 1:22:50

     payment channels this requires un parallel scalability that that only near can offer through this shed approach and it's it's not enough to just have that uh 1 million transaction per second or 86 billion transactions per day uh you cannot settle all the billions of intents per day inside one single smart contract uh that just would be too much for one single smart contract which lives in one Shard to

157. 1:23:21

     handle so what we need is actually shest smart contract which allows us to fully Leverage The Power of near sharting that so so that instead of it existing on one Shard it's simultaneously exists on all shards of near so that basically no matter how many shards near has the smart contract would would be living on that many shards this is possible by making the smart contract code Global meaning that Every Single Shard has

158. 1:23:46

     access to the smart contract code and the state is actually stored under user account rather than today stored under the contract account which then you know have to live in one Shard and this means that it can fully leverage uh near Shing approach and uh be much faster and also much more scalable um and you know allow for this non-blocking peer-to-peer or multiparty settlement uh which is key to this future we'll have like tons of

159. 1:24:13

     Agents transacting with each other so that's great I talked a lot about how near scalable how we can make it more scalable uh but we also wanted to make it even faster than today so today it's pretty decent the block time is uh is about 1 second and time to finality is about two two to three seconds uh but to make a truly seamless experience for the users we want to do better and one of the primary ways we want to do this is through the separation of consensus and execution uh that may sound very abstract so what

160. 1:24:45

     that means is that today uh one of the problem we have is that when you need to execute something you first need to to wait for the consensus to uh to create a block and then you know what to execute that's a problem because um means that you cannot the nodes are not constantly executing transactions or receipts it has to wait uh rather what we want to do is we want to have consensus wrong as

161. 1:25:08

     fast as possible just ERS transactions and then separately the executions try to catch up uh this means that a node would be constantly executing transactions because you know what to execute is already there waiting for it to execute uh this would allow for uh for much better through put but also would support long running transactions because now you don't need to have a state root update every single block and

162. 1:25:33

     uh because blogs are produced uh much more frequently uh if you have those RPC nodes uh just eagerly execute them as they get produced you also get optimistic confirmation that's much faster than what we have today and that is enough for most people and then separately we still have the finality guarantees that we have today so that's also not the end of it so if you actually think about it in a more uh concrete way

163. 1:25:57

     like what what what this kind of thing actually enables so uh on the bottom you can see what we have today so let's say you have some transaction uh that missed the the block production let's say got got in like 1 millisecond after the blocks produced then it's kind of suboptimal because you have to wait for one full second until the next block get produced rather if if we have this separation of consensus and execution the consensus just constantly wrongs you

164. 1:26:23

     can produce much faster and let's say blocks are produce every 200 milliseconds then even if you miss the block production you know that you will get in 200 millisecond later which is you know 5x better than what we have today and what's more interesting is that it allows for this uh long running transactions that doesn't fit in the in the limit of one block so that is not possible today because we we we need to make sure that consensus can continue producing blocks and not get interrupted

165. 1:26:52

     uh so that there is a gas limit that essentially limits how much time uh each blog can spend on execution um and in in this new word because you don't actually need to have the state root update going into the consensus for the next block you can actually wait uh longer than one block or even two blocks uh to wait for some some transaction to finish and this is very interesting because it it enables use cases that not possible

166. 1:27:17

     today for example we have um we have this we have Aurora running evm interpreter as a smart contract and has come to me at least 100 times saying that hey like how can we make sure that one transaction can fit more gas into it so that we can we can we can be fully compatible with ethereum executing 30 million evm gas in one year transactions so this is basically the solution to

167. 1:27:40

     that and on top of that you still the use case we support today let's say uh ref swaps that takes 5 milliseconds that's also uh readily available and also much faster uh so this combined with uh what we already have which is n 2.0 this leads to a very bright future where not only near is hypers scalable but also extremely fast and the Very versatile you can build all kinds of different applications whether it's

168. 1:28:06

     decentralized exchange uh that are some swaps it's very fast to execute or some long running computation that takes seconds to execute and uh with that I'll pass it back to IIA to conclude this talk all right well first of all I think it's really exciting because uh this is also I come to Bowen as well very frequently where it's like we need to make blockchain faster and indeed we are getting to really good throughput we can put a lot probably most of the

169. 1:28:43

     applications in web 3 if not all application web 3 on near and we're still going to have ton more capacity but now we can actually run with the speed of internet where the latency indeed you know every 100 milliseconds are failed by users so we can actually accelerate that so really exciting so we have the sharted blockchain we which is you know is scalable it is reliable and it's getting faster and faster we have

170. 1:29:06

     chain abstraction uh as Kendall talks through it that enables using all of this um kind of different web three Technologies been built around internet as well as enabling really interesting things on near itself we have intents as a new primitive that allowing us to effectively coordinate different actors agents Services market makers participants on the global internet in a very kind of interesting new ways and uh and creat as new amazing experiences as he showed and we have user on AI with AI

171. 1:29:39

     assistant and their research that going to advance what's possible with web 3 so all of these are really powering this future that we envisioning all of them are effectively enabling how we see that AI will be driving forward how we interact acting with internet how we interacting with uh Computing how we interacting with each other and all of them are effectively core components of this Vision right again you can think of

172. 1:30:03

     them effectively uh as front and back end it gets a little bit mixed with chain abstraction as kind of Kendall was talking about you know it can both work on the wallet side enabling new experiences and on the backend side enabling you to Marshall assets and um kind of interconnect uh applications similarly for intense it can work between effectively any of chain agents uh be that in the UI or on a back end now the kind of what we going after

173. 1:30:36

     right I think one of the interesting things in web 3 we always you know competing with other blockchains and the reality is that's not the competition the competition is the current status quo it's the internet where the ads are effectively dominating and the attention is driven to Mon and monetize every interaction every click you know there's ton of AD framework and ecosystem that's

174. 1:30:59

     working to effectively drive you to some decision that is not yours and so that's really what we're replacing right this is the new type of Commerce powered by AI this is user own internet that is on your side this is replacing effectively the whole kind of digital ads and uh marketing spent on those ads that is you know over $400 billion in a year in the budget it's all the payment processor

175. 1:31:23

     fees and all the aggregator commissions right which are now disaggregated because your AI can actually evaluate all the options in a neutral way without needing to have a mediator and a third party a middleman to do this and finally all the financial services right as you saw what we can do now uh was intense this also can work with Fiat this can work with you know stocks it can work with any asset uh in the world so that's

176. 1:31:48

     a future where we're going right this is trillion o over trillion dollars of business value a year here that we going to be capturing through building the system with all of the applications and kind of a assistance in the ecosystem as well as result of services and smart contracts and applications been built in the in the ecosystem so few key takeaways right so near the blockchain

177. 1:32:12

     fori uh go check out near assistant again it's Alpha so uh there'll be quirks but you know you can try launching mem coins not Financial advice you can uh there's also like more and more agents going to be added to actually enable more and more functionality if you're a researcher or interested in kind of building agents as well uh go to ab. for research Hub uh there's a lot kind of more and more resources being added there and finally uh exploring your intents both you know how it works right now as well how you

178. 1:32:44

     can integrate it into your application enabling new experiences or become part of the network effectively providing Services uh into this so I'll just finish on this thought that New York has never been kind of a you know traditional blockchain with lots of promise and lots of marketing and uh you know slow delivery uh we always focused on like delivering really interesting stuff and uh trying to

179. 1:33:08

     figure out how to Market it and how to explain it the the story of you know iterating on open VB and kind of all all of the ideas how we kind of position this has always been a uh our story of we we seiz the vision but uh we we learning how to communicate and so what we doing here is really going after that Vision that we kind of always had since 2018 2019 to really reenable the internet and be that kind of infrastructure that really interconnects

180. 1:33:40

     what's possible and removes uh middleman removes the kind of uh predatory uh economy that's been built right now on internet and so I'm really excited there's a lot more talks and a lot of uh kind of um folks building the ecosystem already uh in this Primitives uh as well as you know New Primitives for for the ecosystem there's applications talking about how kind of amazing experience they can provide so I hope you enjoy the conference I hope everyone uh has a

181. 1:34:10

     great time in Bangkok stay safe and uh thank you all right okay huge thank you to the near Avengers there uh you will see up here uh the QR codes that you can scan uh after every talk you will earn sov tokens you can then take those sov tokens which your on chain and give them to somebody digitally and in return they will give you a bag or some sandals or a t-shirt or BS a hoodie uh whatever it is

182. 1:34:49

     uh you can use them to activate experiences around the conference so please uh don't forget to do that um I need to remind each and every one of you to be back here at 1:00 p.m. because it is my favorite time of the day that is lunchtime so I will see you here in about 30 35 minutes thank you very much folks see you soon God bless the

183. 1:36:19

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208. 2:09:29

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209. 2:10:35

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210. 2:11:43

     our program will begin in 2 minutes 2 minutes please take your seats thank you next for

211. 2:13:42

     please welcome back David Morrison yeah all right thank you um look I hope you had a wonderful lunch uh there is still time and there's still plenty of Swag left over at the swag shop if you want to relax there's a massage somewhere but it's not it's not one of them ones um but you'll still have a good time regardless uh it is my pleasure to introduce the first panel of redacted and that is what's real in decentralized AI infrastructure with

212. 2:14:12

     your host Jeff wilsa the hor of the AI curious podcast so please give a big round of applause for Jeff hello hello it's great to be here my name is Jeff wilser I am the host of the AI curious podcast and I am super curious and fired up for today's session I am joined of course by Scott dystra and Mark Ryden to absolutely the sharpest Minds in the space on decentralized AI and we're here to really get into the Nuance to get into

213. 2:14:59

     kind of challenging the hype going past the buzzwords of what is real what's real and what's kind of smoke in mirrors what's legit why does it matter in centralized AI it's a baseline things let's hear a bit about what you're both focus on your projects uh Scott tell usit what you guys are focused on absolutely well great to be here excited to be at the at the newk conference and uh space and time is a decentralized ZK proven database of all of crypto's data

214. 2:15:29

     so about 100 terabytes of data from every major chain and we provide that data to AI agents and smart contracts that need it and then we're also building a lot of uh AI our own AI agent infrastructure on top to help de de developers uh generate smart contracts generate SQL queries and generate smart contracts that make SQL queries on chain which are ZK proven ultimately we give a

215. 2:15:53

     lot of context about what's happening on chain to AI agents and uh we're really excited to be here awesome Mark yeah also very excited to be here thank you again for for having me um we are Aether we build decentralized GPU infrastructure for AI and gaming companies essentially you can think of us as like a an AWS or a Google Cloud providing you know high performance compute for for AI infrastructure uh the difference obviously being that uh we don't own any any of that compute ourselves it's contributed by our partners uh giving us the ability to

216. 2:16:25

     essentially kind of scale in a in a way that's very different from a traditional infrastructure provider so one thing I'd like to start with is what exactly we even mean when we say infrastructure right because I was struck by a graphic Ilia showed this morning it was an amazing schematic showing kind of the the current state of play of the near ecosystem alone and by my like rough count there are like 60 is projects on this chart like oh my God there's so much going on right and good

217. 2:16:58

     chunk of those are infrastructure in some way or another and that's just the near Worlds if you zoom out we probably have 3400 plus projects so how do you guys think about even the Lea lands here the different types of infrastructure projects different types of verticals um is there a taxonomy you're thinking about are there like two or three main buckets um Scott how do you view this kind of the overall universe and how do you kind of break that down so starting at the at the bottom you have projects

218. 2:17:30

     like Aether that are at decentralized basically uh aggregating commodity gpus and incentivizing the onboarding of those gpus and then you have decentralized training and inference which is a very nent uh category in in in crypto that like I think will evolve a lot over the next 2 three years and I think the use cases for that will become much more app parent than they are today then you have projects like ritual that

219. 2:17:53

     are uh a category around bringing llm inference on chain like allowing smart contracts to ask questions from an llm you can call that AI co-processing if you will um and then finally above that is is e the consumer layer uh users that are AI agents AI agents actually transacting on chain teams like virtuals that are building agents like Luna that are transacting so you have gpus

220. 2:18:15

     training uh bringing inference to the chain and then finally transacting on chain across those four four categories I'd say there's at least two or three like very real projects in each category and we're looking at one right here Mark do you have the same kind of worldview of the labor land or would you add a category how do you how do you guys view it yeah I don't think I'd add a category I think uh what you said was was very

221. 2:18:39

     right uh I mean with AI you you you have the the fundamentals right GPU data models and and infrastructure kind of exists across uh those verticals Aether obvious exists in the in the the GPU commodity space um there's a there's a bunch of kind of different players in each in each segment but infrastructure I think is it's a it's a funny word in in crypto right I think it's it's almost kind of um it almost becomes a dirty word towards the end of a cycle right because

222. 2:19:13

     we get so obsessed with infrastructure early on right uh and then we realized holy we have no actual ual use cases like we've built all this infrastructure and who's using it right what's the what's the actual application for what we've what we've built um so yeah infrastructure I think we're we're very very good at uh and there's yeah there's a lot of a lot of growth in the good thing is we're nowhere near the end

223. 2:19:36

     of the AI cycle so it's not quite a dirty word just yet right we have some more some time to play um Scott you mentioned kind of jokingly but kind of not jokingly that each of these categories have two or three real projects um obviously without naming names although feel free if you want to throw someone under the bus like go for it we'll start some see we'll start we'll start some Wars here but what what types

224. 2:20:02

     of projects or types of infrastructure do you strike you as a little more hypy and frothy and a little less legit okay that's an interesting question so uh I think a lot of investors in the space and then a lot of teams building in the space are really excited about bringing llm inference on chain like allowing smart contracts to emit an event on chain that some offchain AI co-processor listens for that requires llm inference it kind of oracles the llm result back on chain to

225. 2:20:34

     a Smart contract like that's a very promising future and exciting thing but I think the the use cases for that are still TBD like there's a lot of use cases around governance for Dows um maybe like Dynamic nfts but when you get past that I I think that area is very much TBD and when we were really excited to hear from Naraj because I was I want I was going to ask him that question like yo what are you most excited about use cases that one to me is a big

226. 2:21:00

     question mark like how that part of the industry is going to evolve what's not a big question mark is using crypto as an incentive mechanism to onboard a lot of commodity Hardware like that's a very clear use case that's a perfect use case for the blockchain perfect use case for crypto and that's like uh that's going back to crypto's Roots using a cryptocurrency to incentivize kind of economies of scale to on board a lot of Hardware from the community whether

227. 2:21:24

     that's Enterprise Community or uh retail Community finally um there's a lot of teams right now building sdks for AI agents to transact on chain and that's very real like that's something that hobbyist developers are using on their weekends to build their own AI agents that transact on base or transact on salana and we see teams like dow. fun that are using those sdks to allow third parties to create AI agents that like

228. 2:21:48

     transact on chain and buy beam coins that's as real as you can get I love the I love the the Dow fun use case um you good yeah to be honest I think AI is coming into its kind of um real crypto use case now I think that honestly when you look at kind of the early stages of AI very very training focused very llm kind of uh Frontier Model focused right uh a space that maybe not uh not a great fit for decentralization right I think

229. 2:22:20

     large language models when when you're looking at kind of the the chat tbts and the anthropics they benefit so much from centralization right a massive amount of Hardware collocated huge amounts of data that they can just pump into these centralized systems it's not something that inherently uh lends itself to to decentralization right I think you have some really cool projects that are

230. 2:22:43

     looking to um provide alternatives to this model right but that's a big technical challenge that I think is not something that we'll be able to kind of immediately solve um but it's it's a it's not a space that is naturally welcoming to to decentralization however like Scott just mentioned we're we're entering this period of time I think where crypto offers this really really cool use case for uh for for for the for the kind of the AI application space like the

231. 2:23:16

     inferencing space the agent space uh and we're seeing that just start to explode right Dow up fund is a really really cool example like everyone knows um like pumped up fund Dow do fun similar situation but you you kind of invest in a dow right and if the Dow hits um enough uh kind of investment the the Dow goes live there's a dow token and then the the money that was kind of invested uh is in meant to be used to to invest within within the within the Dow but uh

232. 2:23:48

     what what kind of is is happening is that um people are creating AI agents right that are meant to be managing these Dows so people are investing in in these Dows on the assumption that an AI agent is going to be the portfolio manager right probably a horrible idea better than me being a manager of it so I I I see the merits in some sense but people people people love it and I think I think this is this kind of beginning of this really really exciting um space

233. 2:24:19

     where crypto does have a really cool use case uh for for AI is it going to be probably a horrible idea in the beginning yes but it's going to be it's going to be fun and in in some ways have I feel like in the last even six months agents have exploded in terms of excitement hype but also to both your points some legitimate use cases has me it's a paradox here have the rise of Agents or the expected rise of Agents even changed how we're thinking about infrastructure and actually are kind of like nudging and guiding how we're

234. 2:24:53

     building infrastructure I mean goad yeah I I'll just quickly jump in I think it I think it definitely should right because when you when you think about agents um what what do they do they're meant to make our existence on chain easier right more seamless I meant to provide the ability to kind of overcome um the the the kind of challenges of of of daily daily existence on chain right and what's cool about agents is that I would say within the next kind of one to two months we're going to have uh this kind of

235. 2:25:26

     abstraction of the complexity of interacting with crypto right so much of the the the complaints that we have with crypto are about the the ux right how do you kind of uh overcome that education barrier this kind of complexity associated with kind of managing your assets on chain uh agents are going to remove that instantaneously you're just going to be able to communicate directly with your agent that you don't need to know to bridge tokens manage gas fees

236. 2:25:52

     kind of understand what what kind of uh different chains are just going to be able to execute right and I don't think we're looking hard enough at what infrastructure looks like post complexity in crypto uh and that's something that we're going to hit very very soon Scott how are you thinking about that yeah the the question was like how are how are we changing the infrastructure development with the Advent of this agent or if it I'm not

237. 2:26:15

     even sure if it is but are agents kind of like is there a circular thing I think very much yeah I was just I was pondering it when when uh when Mark was talking um we like internally in space and time we've I don't call 35 Engineers or so and they're already thinking like hey we we have our own um kind of C genen tools that we use internally and they were trying to kind of make them an API that third parties can use and we're

238. 2:26:38

     we're like a lot of new infrastructure development we're trying to build AI first like make sure like the first line of code written was generated um rather than taking like a bunch of code that we already built that we hand coded over the last 2 three years before we had a ton of really good uh development agents and then like adding an agent on top to a bunch of code that's already written by humans we're trying to start agent first now like what does that look like

239. 2:27:03

     on chain so I think about um like uh protocols that are sort of like SDK first or like API first where like a di5 protocol that's less concerned about what the UI is and more concerned about like how can agents use like abstracted key infrastructure abstracted wallet infrastructure to trade on a user's behalf like intense right there's this new kind of popular term in crypto around intense and I know near is doing a lot with intense which is really

240. 2:27:32

     excited and there's a lot of other teams and intense is like a could could become like an AI first ux for defi finally um on the space and time side like what we did for our user experience and our developer experiences we just built like we just kind of co-engineered with Microsoft like with a bunch of azure AI lab engineers and our own Engineers we built a very specif uh sophisticated prompt to SQL engine so that like

241. 2:27:56

     developers can can write can write a prompt that gets that gets turned into SQL that their smart contracts can run on chain to get the data they need or their AI agents can run to get the data but like writing sequels a painful 10 minute 20 minute 30 minute process when you have a big query and thank God like AI just writes it now for all of our users so like today at least half if not more like I think like 55% of the queries that that are run against space

242. 2:28:21

     and time were first generated by an AI agent which is like a very uh AI first developer experience go ahead yeah I I I just want to Echo that I think you're right this this kind of focus away almost from ux like it's funny that we say that because we suck at ux right like crypto sucks at ux right but this this Focus away from from ux this ability to like build an ecosystem that's just very accessible by agents I think is is is it's a you know really good point and this intent-based

243. 2:28:54

     ecosystem kind of structure that uh a lot of kind of projects are leaning into is is fascinating as well right I I still don't fully understand it it feels like magic to me you know what I mean this idea that you you just put a request into the the protocol right and then the the request will get kind of met you don't need to kind of understand what you're asking for you don't need to kind of have this kind of technical kind of uh con nection to to the to the request you just have to have the

244. 2:29:23

     ability to to request and I think that um you're right that's going to be a fascinating kind of uh growth sector um built largely on the back of kind of AI do you guys have a sense of within the larger decentralized AI infrastructure framework of a pie chart what chunk of that uses tokens and what will not I'm still trying to I'm just get my arms around to what extent tokens in cryptocurrency is a necessary fuel for this engine and there

245. 2:29:58

     are some projects where it's explicit and there are some where I don't see mention of it at all right so what's your gut on that of how important tokens will be to all of this so you have um two categories around like like of of cryptocurrency and Ai and in my very humble opinion One is using cryptocurrency to bootstrap like a larg e economy that you couldn't like like an economy of scale which is what Bitcoin was what ethereum was what most l1s are bootstrap a a large number of validators

246. 2:30:30

     a large number of commodity servers contributed to your network incentivized by a new token Aether is is that for gpus like uh an economy of scale of onboarding a lot of gpus where where the token is the incentive to do so on the other hand there's like agents transacting on chain using crypto as just a better payment mechanism as a better way to transfer money on the internet as just a way to move Capital

247. 2:30:56

     between parties on the internet and like I I think it was uh KY Sani from multicoin that tweeted like two weeks ago like hey why do AI agents need to transact on chain you can just give them your credit card and that's like a valid question I think everyone was was I've had that question for a while I was too scared to ask that so why can't I just give my agent my Visa why do why do they need to transact on chain I I would pose the question differently I would say do users have cryptocurrency that they want

248. 2:31:22

     to do things with like like you have an AI agent that's a that's an assistant that helps you do something like an AI agent that helps you uh purchase a flight to London or a flight to Bangkok or you have an AI agent that helps you um make defi transactions or take out a loan on chain if you're buying a flight to Bangkok with your AI agent assistant I think you will give them your credit card I think they'll be very thin like very well-defined parameters where

249. 2:31:45

     you've set up um a very contained amount of money like hey I'm willing to spend 700 USD on this flight I have an AI agent infrastructure an AI agent assistant that I give my credit card and it spends $700 with Asia air and I can it buys my flight for me that's very different than like me trying to bridge money over to an L2 to take out a loan and that's a lot of work for me so I

250. 2:32:08

     just have my agent do it if I already have crypto of course it's going to transact on chain and blockchain just offers a better programmatic way for agents to to transact so long story short um I think both will be very important I I don't think it's either or I think I think the blockchain is a better way for agents to transact programmatically but there will be very isolated use cases where of course you can give it your credit card Mark do you agree yeah I agree I

251. 2:32:31

     mean you you you said that really well I think um one one kind of uh thing to look at here is that as we increasingly offload work to AI agents right the the requirement to to understand and be able to kind of measure and and and kind of over see that work is is pretty critical and I think that um obviously the blockchain is this kind of immutable transparent kind of Ledger this ability to kind of understand exactly what these agents are doing uh and that you know

252. 2:33:03

     there's a there's an element of oversight that I think is important as we start to kind of offload this responsibility that the blockchain does provide where do you guys think we are in the timeline of all this for infrastructure uh Mark I love how you mentioned earlier that you know given Cycles it could be a dirty word in in web 3 um do you have a sense that we are it's imminence of this becoming

253. 2:33:27

     mainstream having enough infra built that everyone in this room and but more importantly because this room is very self-selecting crowd right this rooms brothers sisters grandparents you know when do you think this will be something that truly gets uh mainstreamed and then let's tackle what challenges do we have to get there Scott what are your thoughts the data infrastructure is maturing really fast space and times part of that we're we're accelerating

254. 2:34:00

     like providing AI agents a lot of data and a lot of context about what's happening on chain I think we'll get there like in 2025 to where 90% of the boxes are checked off of what agents need in terms of data um but going mainstream is is interesting I think it's like it rides off the coattails of uh success stories right when we see like small success stories like Luna agent from virtuals that's got everyone excited and it's

255. 2:34:29

     going viral on Twitter and I'm taking 20 minutes to see what the AI agent's going to live stream that gets people really excited and then you get a a massive amount of development effort that's poured into that sector so like now starting today we're starting to see tons of developers wake up and be like oh my gosh this is so cool wait I see a success story I see what's possible and start to like ruminate on what's

256. 2:34:53

     possible uh start to build their own agents that are more consumer focused that could go mainstream like like agents that have 500,000 followers on Tik Tok and they're live streaming their own content but they're accepting tips accepting donations accepting uh payments in crypto not like people connecting stripe and typing in their credit card to tip an AI agent it's going to be crypto that primarily they

257. 2:35:19

     accept and so it's it's mainstream but it's you know maybe not like your grandmother using F yet Mark when you as far as infrastructure itself and before we get to the actual Grandma's all you know aping into these things um when will the rails be sufficiently built I think a lot of the Rails are are already there right I think that um like we're seeing in this this kind of um the these agents that are going viral we you know you you're starting to see some really cool kind of demos right on the the the

258. 2:35:51

     binance in binance week kind of you know two weeks ago bit GPT did a really cool demo right where they had their their agent live on stage uh it sent a transaction to someone uh in the audience right like they it executed stuff that's you know a little bit complex for for the average person I think that it's it's there right the the the rails are there the agents are are just becoming increasingly capable I think that the pieces that are maybe um not there yet right and I'd love to hear

259. 2:36:22

     your opinion on this is like let's say let's say I I choose to personally invest uh my time my data in in an agent that can can act on my behalf right um I don't necessarily know uh whether the infrastructure to protect that data transfer is is necessarily ready yet right I know that there's an agent that can probably go on chain and do a transaction on my behal but is there an agent that I can maybe trust with my

260. 2:36:52

     data in a way that kind of protects that data that doesn't kind of uh you know share that with the the broader model that's kind of powering the agent I don't know is what's your what's your take on that Scott good question yeah I mean that that was the whole promise of web 3 at least in the last cycle so much was talked about about returning ownership of data back to the internet's constituents because it was stolen from

261. 2:37:16

     us in the Facebook decade um where where we just gave our data to Google and Facebook and they sold it they productized it and there was this like in the 2021 cycle there was so much promise of crypto giving back ownership and control of data to Consumers from a llm standpoint I think you're going to need highquality decentralized gpus and you're going to need uh teams building you know privacy Solutions and

262. 2:37:41

     decentralized llm inference on top of that for that to occur like right now we give all of our data to chat to to open AI via chat BT I think I think that the INF I think you're exactly right if the question is what's missing that's definitely missing today is a way to protect consumers from providing that data I I'm thinking about it more about Capital protect consumers Capital like I didn't even think I'm sping times a data company that's a great segue to our final lightning round style question real quick give us a

263. 2:38:13

     prediction give us a 20 seconds or less infrastructure AI prediction next year five years Dealers Choice I predict that smart contracts will be a policy engine for controlling Capital like allow like putting tight guardrails around how AI agents can spend money on your behalf who they can send money to uh what kind of portfolio of of Blue Chips versus meme coins can they buy for you like you can the beauty of smart contracts is they can be a policy engine that control

264. 2:38:43

     like how agents use your money who they send it to Etc love that Mark quick prediction yeah I think we're going to be post post complexity in crypto very very soon the next maybe 3 to four months I think that uh the the crypto space is going to explode with a bunch of useless AI agents that are executing on chain a large amount of noise from a smart contract perspective a large amount of noise on Twitter and social media I think we're going to go through

265. 2:39:10

     a a blizzard of these sorts of kind of um uh actions uh but I think that um there's going to be some really cool stuff that appears uh and and survives as a result amazing great great discussion enjoyed it thanks guys thank you all thanks for having us great up guys thank you all right uh don't forget to scan the QR code with your beautiful uh mobile applications and to earn some s they've

266. 2:40:00

     got a sick t-shirt over there that says Don't fed on me and it's got the snake um right I think we're all good with the chairs and uh we've got another incredible panel um it's going to feel a little bit like deja vu because you have the same moderator so please put a big round of applause together for Jeff Wilson the host of the AI curious podcast and the wonderful panelists for decentralized AI apps that you can use

267. 2:40:31

     today let's give him a round of applause hello hello you guys cannot get rid of me I apologize for that my name is still Jeff wilser host of the AI curious podcast and I am super excited to be joined with yet another All-Star lineup of very smart folks you discuss decentralized AI apps you can actually use today and potentially also what you can use tomorrow and how do we get from

268. 2:41:10

     today to tomorrow I am joined by Ben Fielding by colantha May by edgers Nam and by Jessica Sol hello all welcome let's have a let's start with some brief intros of what you guys are focused on then we'll dive straight into the red meat Ben you go first sir hey everyone I'm Ben uh my background originally is in AI so kind of uh you'll see the reason why I care about this um but now I'm the co-founder of Jensen and we're building the network for machine

269. 2:41:41

     intelligence um so we essentially build infrastructure for the core resources of machine learning uh to be done in a fully decentralized way uh and entirely programmatically rather than requiring all of the kind of human world things that machine learning requires right now Claudia hey everyone my name is clenia May I'm the co-founder of Masa Masa is a decentralized network that provides data for AI developers what we provide is

270. 2:42:06

     truly realtime structured and factorized data for anyone anywhere in the world to build AI applications and AI agents fun fact I'll volunteer one uh my cat lafy is an AI agent well I do have a real C but he is also an AI agent amazing Edgar hey I'm Edgar uh I'm the co-founder Chief product officer of Jer Ai and we are building gen layer uh gen layer is a new kind of blockchain where the smart contracts can connect directly to the internet to fetch any e data and execute natural language instructions using

271. 2:42:38

     large language models we do that in a way that's unique uh by aggregating the intelligence of many different large language models through our consensus mechanism Jessica hey how's it going my name is Jessica Solomon and I work on a couple complimentary projects both 707 and Vana 707 is the one and only ecosystem project of Aura which puts AI models on chain 707 is focusing on AI generated content models on chain and we have actually um

272. 2:43:07

     named our protocol after the extension to erc721 nfts uh called ERC 77 which is essentially a way of showcasing an nft and correspondence to a piece of content that was generated with an AI model Vana is focused on user owned data and we love using data to train AI models that then generate content amazing so what I'd love to do is have something of a three act play right here okay in act one I want to cover what we're supposed

273. 2:43:41

     to cover apps we can use right now act two what we think might happen tomorrow what that could look like and maybe what are some like gaps between where we are today tomorrow act three how do we get there and so I'm not going to ask each of you one by one by one so jump in whenever let's talk about what you think are some of the most exciting really useful apps that everyone here in this audience everyone in live stream they could actually go right now on their phone on their laptop and actually do things to show what's in

274. 2:44:14

     the field right and you guys are all in the front lines you there's no one better than the folks in this room to time in of this so I'm curious you know what what excites you about what currently exists today and we'll go from there something that I'm seeing um and that's kind of coming online basically right now is using large language models to create kind of a universal Oracle um because so far oracles have been quite

275. 2:44:36

     limited they only work with very narrow precise data feeds um and for something for something like a prediction Market where you have oneoff questions you need to have humans basically to resolve it which is slow and expensive and unre reliable so what we're seeing now and what we're also working on at gen layer as one of the use cases is universal article where you can fetch any data any from the internet and use large language models to extract an answer for example

276. 2:45:01

     who won the election that's something that's already super reliable with the current level of Technology we also seen like chain link and Chaos Labs come out with their you know um simpler Solutions than a gen layer will building this full platform fully fledged consensus mechanism that's going to be super reliable for that but that's what that's something I'm super excited about clavia yeah I think I'll probably talk about one thing that people have been saying

277. 2:45:25

     in AI for a very long time but for the first time mainstream audience finally understands what we all have been talking for many many months and years which is AI agent up top I mentioned that I do have a cat whose name is lafy and who is also an AI agent and I think many of you have seen were interacted with Luna goat and many other AI agents on Twitter the that is I think the most

278. 2:45:48

     um approachable or accessible AI application that we have seeing in mainstream right now but imagine what can happen in the future currently both goat and Luna are trained on prescrip data sets where static data sets but in the future using realtime data provided by Masa um goat and Luna and many other AI agents out there including my cat lafy will be able to learn in real time Commerce in real time and make all the AI agents more contextually aware and

279. 2:46:19

     emotionally intelligent I know I jump the G and I'm talking about the future but I'm super excited I I definitely want to explore this emotional intelligence that you're describing there I need some for myself personally too so I'm very intrigued by this Jessica for you yeah I think people should try generating an inference on chain with one of aura's tools um so if you want you can use actually stable diffusion on chain right now the cool

280. 2:46:41

     thing I find about generating a piece of content or an image with stable diffusion on shame is that unlike an nft which is often times a JPEG or some painting that I made somewhere else and then I decided to Mint it on chain with wearable or openc this inference is actually occurring on the blockchain which I think is a somewhat game-changing feature of both Ai and blockchain and conduit with one another

281. 2:47:07

     Ben any current use cases you want to highlight yeah I'd probably just um I'd double click on the agents use case I think that's the most exciting thing right now um I would say i' I'd maybe caution that I do think we're in like POC territory with it like it's interesting right now these agents uh you're able to converse with them and they can they can say interesting things but behind the scenes a lot of what's

282. 2:47:28

     going on is still very centralized um which is fine right like it it doesn't make a huge difference with our interactions it demonstrates what's possible that's really exciting um but I would say um what will become more exciting in kind of Jensen's opinion is when those agents can actually do real tasks on our behalf they're not just like uh conversing with us anymore they're going out and kind of executing something thing and I think for us to get there we need um to basically bring

283. 2:47:53

     a load of the infrastructure that they rely on to an onchain environment doesn't necessarily need to be on chain but it needs to be kind of adjacent to the chain because those agents themselves aren't truly autonomous yet but they can be um so yeah again jumping to the Future a little bit but I think when we can do real autonomy which is one of the most interesting things about crypto it will get super exciting not to say it isn't exciting right now is it fair to say that we're still in verely

284. 2:48:19

     even these use cases you guys describe which are Super exciting I'm guessing are all still pretty early adopter is right there's there's not a lot I keep making discussing grandmas today but a lot of grandmas out there doing decentralized AI stuff right and even like the cat and your cat sounds amazing both the real and fake one sorry not fake uh apologies to our AI overlords human challenged right

285. 2:48:45

     um interesting exciting stuff but it's not mainstream decentralized AI agents are not yet mainstream is that is that fair to say that it's not it's not yet spilled over into normies just yet is that fair yeah I think so but in many ways I think it's quite exciting to start with what the normies are most excited about sure um my Boomer parents love generating content with mid journey and all um while mid journey is not open source I'd love to see a way in which

286. 2:49:15

     egotistical Boomers can generate content and actually prove prove it's their on the blockchain and that's kind of to Ben's point that the narrative matters right and even if it's if if we waited and we we've all learned this and kind of the overall web three crypto space if we waited until everything was perfectly decentralized before doing anything before shipping a single thing the industry would be dead right you have to start with something and then we kind of

287. 2:49:39

     progressively centralize um with that said let's let's pivot to the Future um what excites you now about actually let's start with you uh on your emotional intelligence emotional intelligence cat agent if I'm getting that correct talk about what you see down the road of how these decentralized AI agents can work and give use cases that might kind of blow Norm's Minds yeah first of all I actually want to piggy back to the prior question about um is decentralized AI mainstream yet I think the answer is no but when

288. 2:50:13

     mainstream is interacting with decentralized AI in the future I don't think they need to know that is decentralized great Point that's really the magic when it comes to Consumer adoption you don't have to understand the technology you just need to find utility in what you're using take the cat Asian as an example right it will make I'll make a statement here it will make all of your PRI me coins look very dumb because they're not emotionally intelligent they're not contextually

289. 2:50:38

     aware they cannot think in real time so the first iteration of the future will be truly emotionally intelligent and contextually aware AI agents then to your point I think that AI agents should be able to not only converse with you to make you happy and entertained but also being able to complete tasks through agent to agent coordination agent to agent payments and in the future agent

290. 2:51:01

     to non-agent entity so the end game of this is that any single one of you sitting in the audience on on stage here you will be a able to have an army of AI agents that's completing task for you that is basically creating the mini clenia but clenia 1 2 3 4 5 ABC out there creating value on your behalf that's I think the pretty more remote future we're looking at can I double click a little more on emotionally in

291. 2:51:27

     intelligent point I'm I'm really curious of what this looks like can you give an example concretely of um so what does that mean as far as emotionally intell they're able to sense what your emotion is and then give an appropriate response that kind of respects that or or kind of flush it out that what that looks like yeah so if you use our agent Network and Masa you'll be able to first set the prompt and then Define the personality

292. 2:51:52

     and the traits of the AI agent right for example my cat's personality or cality there is really a sassy roster who is just making very snarky comments out there judging you based on your Twitter history but being an emotionally intelligent cat and being said the cat will be able to learn in real time and formulate Chain of Thought and be able to refine the way that it reacts to your

293. 2:52:18

     behaviors or your conversation we're living in Wild I think most people have no idea where we're headed this is wild and amazing stuff Edgars what excites you about what these could look like in the future and give us some examples like that uh for us I think the most interesting well for me personally even the most interesting thing is using AI for um dispute resolution kind of like extending this idea of you know a prediction Market is already done but

294. 2:52:43

     extending it to kind of way more powerful smart contracts because the way we see it right now is well for some things you can use a Smart contract if you want to have a bet about the price of ethereum Tomorrow incredible you can have a smart contract it's self-resolving and instant it's super cheap but if I want to hire somebody to write me a blog post right that's not something I can actually achieve with a smart contract because the smart contract cannot see the article and more

295. 2:53:05

     fundamentally it cannot evaluate what is a good article for that you need natural language you need um you know flexible kind of contextual Concepts that uh formal languages like solidity cannot deal with that kind of stuff uh so right now you basically need to have a payer contract and go to a judge uh and it's going to take you a year and 10 grand to get that resolved uh so what we see is that you can actually use Ai and by combining the intelligence of many different large language models to make

296. 2:53:29

     it super reliable you can use it to have these contracts where where the AI basically acts as a decentralized court system a decentralized panel of Judges that can resolve really high stakes contracts such as a truly autonomous organization or per kind of performance-based Contracting hiring people to do stuff um anything like that that's super interesting to me kind of taking this idea of smart contracts and making them intelligent extending this

297. 2:53:54

     concept to really take a big bite of the legal system so we have ai judges AI armies AI cats Jessica what what what excites you about either what's coming that's being built right now that will come out soonish or long-term is or maybe what you want to see dealers well I'm excited about more people actually building AI models and them having the me the means to do so and I think that's something that blockchain has done a really brilliant job of is helping curate ecosystems and help sort of

298. 2:54:24

     curate essentially funding for peoples that are members of those ecosystems to really incentivize developers and align interests in a way to which we can have more Niche versions of AI that might not come otherwise without decentralized technology Ben how about you future use cases you want to see um I think I'd probably agree with edas on the essentially trusted decision making um I think we we've seen that decision- making in the human world typically involves outsourced trust somewhere to

299. 2:54:56

     some organization or or some like legal entity or something like that and that's worked for a long time in a certain way but it has has downsides and then we've got decentralization and like decentralized trust mechanisms which are really interesting for us to co-organize around things but when it comes to some kind of complex decision we get stuck again we either go to some kind of voting system which typically fall apart for various reasons or we Outsource that trust again to one of those older legal

300. 2:55:20

     institutions whereas if we can have trusted execution of some kind of agent on chain you can Outsource that decision- making a group could say we are all opting in to Outsource this decision making to this entity um and we can see that execute entirely on chain for that to happen you're going to have to have uh verification and kind of uh verified execution of the agent itself all of the components of the agent and need to going to need to be transparent

301. 2:55:43

     and verified but that's all possible um and so that's one of the big things we're working on is bringing all those pie P of infrastructure to the chain so that you can Outsource that trust um so I think when you do that it changes what we can do collectively uh in a big way um and to to what Jessica said it allows people to build more and more interesting AI models and AI agents uh one of the things I would caution though is we talk a lot about um autonomous

302. 2:56:08

     agents in this like anthropomorphized way where we think they'll look like people and they'll talk like people I don't think that's the case I think it's much more interesting if we let them evolve as this kind of entity with a completely different set of abilities it doesn't need to talk to people yes it probably will people are a system that it needs to interact with uh but then we have those interagent Communications that doesn't necessarily need to be even be human readable it can be super efficient in its own way um same with

303. 2:56:32

     how it interacts with the outside world it doesn't need to go via the human rails those are likely incredibly inefficient for it we need to think of the Rails that make sense for the agents themselves uh and the tech itself and I think that's when it gets really interesting but you end up super abstract so it's a balance between anthrop prizing these systems and allowing them to be as powerful as they possibly can be I love that trait that that tension you outlined that's that's a great Point um as promised act three

304. 2:56:58

     how do we get there how do we get to that future um and I'm curious mostly what do you think the main pain points or friction exists to get there is it is it is it is it the real challenge overcoming Tech hurdles and we we need certain we need more chips need more capital or or is it about a cultural awareness is it about marketing is that my personal thought by the way on a branding issue I think we got to Rebrand even the word AI agents it's like kind of awkward and hard to say it reminds me

305. 2:57:31

     of like on a 30 Rock there was a bit of like the movie called the rural juror and no one can say the rural juror I think AI agent is a clunky word we got to do better than that but anyway my personal thought but seriously what do you guys think it will take to get there and what are the main pain points we have to resolve Edgar off I think big one is Tech of course there's centralization at every layer of the

306. 2:57:55

     stack from how you train the models to how you do the inference uh to how you interact with them and I would add a final one which is the that a single model itself is centralized it's a subjective entity it's a biased entity statistical entity you know you you talk to CH gbt 90% of the time it gives you the correct answer 10% of the time it hallucinates something right so it can be wrong uh so you we think at least you also need to decentralize uh you know

307. 2:58:20

     between multiple models have them work together so I think it's on the tech side of course tons of problems to solve but I also think it's on the imagination side you know people are just starting to understand even how to talk to a simple large language model and then you know to get to a point what can you actually do with them how can you redesign the entire Society how we work

308. 2:58:38

     with you know how we increase trust with each other how we have a much more uh effective efficient system for working with each other how does that look like in an AI age so there's also a huge task into imagine this future and then you know go and build it clenia I think Tech obviously we have we're at Devcon so every most of the people here are developers we're working hard on solving the tech problem I do think adoption is

309. 2:59:02

     the number one issue faced by decentralized AI applications now a lot of people when talking about things such as mcoin would literally just shrug it up thinking that it is so dumb it's a pump and dump scheme however it did bring a lot of much needed awareness to a lot of great decentralized applications we're all building in this room so I'll say adoption adoption adoption I don't mind meme coin I don't

310. 2:59:25

     mind other ways to get people's attention but in order to go mainstream with decentralized AI we need user adoption Ben I appreciate you've had a a very cold sober look at a lot of this B I'm very curious your thoughts on what's it really like no BS what's it going to take to make us a reality it's it's a good question I I think we're in that classic tension that this space has been through many times of infrastructure

311. 2:59:49

     versus application where you need the infrastructure to enable the applications but you need the applications to prove that the infrastructure actually makes sense to build and it at a certain point both actually make sense and you can build real applications with real decentralized infrastructure I think we're potentially on the cusp of that potentially um but at the same time you're not sure what what still needs to be built it's this kind of this

312. 3:00:12

     trade-off that you're always in um I think what the space needs is both of those things it needs people focused with a long-term Vision on how these things should actually execute under the hood what resources they'll require and how do we enable those in a way that is most efficient theoretically right now but at the same time we need a bunch of people just kind of sprinting ahead and saying look this is how I think it's going to work I'm going to hack all the stuff underneath it together it's not going to execute exactly how it will in

313. 3:00:38

     the future but that doesn't matter I'm kind of like proving out the use case specifically and showing the world that something is possible I think the time we're at right now I would upweight that application side um a Jensen we've been building for 5 years in the space we've been building core infrastructure uh we've been building through a time when nobody was thinking about AI agents or

314. 3:00:56

     AI applications in a decentralized way and people are now and I think that is generally very very good for the space um so I would say to people who are thinking about this don't worry too much about the kind of decentralization in the specific infrastructure underneath your app because that is being built there's people focusing on it just prove that there's a real kind of value of doing this this thing that you've got in your head prove there's actually a good reason to do it um because otherwise the space will just get stuck in in a

315. 3:01:20

     similar thing that the the crypto and decentralized space has got stuck in before where people build things and there's incentives and there's there's loads of reasons why there's money flowing into this thing but people have built something that actually doesn't have any use case in the world so I would focus on building the use case show what's possible the decentralization will come the power beneath the infrastructure will come um and you'll be able to adopt it when it's ready but just kind of demonstrate

316. 3:01:43

     what's possible for now sneaky spicy take I love that Jessica how about you what do you think yeah so my sneaky spicy take is tokens and airdrop Farmers I have noticed that people are willing to use a product that might be somewhat still experimental if they anticipate that their usage will then relate to them potentially receiving an aspet of future value I think that's a cool way

317. 3:02:07

     to help create community and incentives for a number of somewhat um more experimental products and help them mature awesome so final question for you all let's do lightning round style once again I'm curious about predictions I want to it could be a year from now 5 years from now hell if one of you guys wants to go 20 years from now go there Ben give us a a little glimpse of the

318. 3:02:31

     future of some actual apps use cases decentralized AI people might use whether 2026 or 2046 okay I would say by 2027 I think the vast majority of the the triggering of the execution of machine learning uh training and inference will actually be done by machines themselves it won't be done by people so the entire kind of industry of machine learning compute which is what I focus on a lot but obviously bringing in data and and all of the other pieces will actually be uh interacted with by

319. 3:03:10

     agents I think those agents like I said before will be less anthropomorphized and more like just systems uh but they'll be the ones interacting with this infrastructure that we're all building it won't be people clenia I'll make extremely short-term predictions so I can be proven wrong or right so I predict in the next 24 hours Bitcoin will surar past $80,000 no Financial investment advice ADV right no Financial

320. 3:03:35

     advice please um but I also predict that in the next 6 months uh the newly established um Twitter influencers or KS will be more than 50% AI agents driven instead of real human driven amazing Edgars I'll extend on both of these guys and say that by let's say 2030 the vast majority of the entire economic activity in the world is going to be conducted by AI agents um you know working with each other on behalf of humans hopefully but uh we'll see but at least the agents for sure working with

321. 3:04:05

     each other together and Jessica yeah so my prediction is that AI generated content will become Ubi not just in the form of art but also in the form of pharmaceuticals and I'm excited for blockchain to help really show attribution towards who was creating those AI models and what version of that model created those assets and helping also those assets become somewhat more divisible my final prediction next conference my AI agents will be moderator for all of you guys AI agents

322. 3:04:36

     and the five agents will have a great conversation and it'll be a great time thanks so much guys really enjoyed it thank you all appreciate it thank you thanks whoa whoa whoa whoa all right woo um this has been one of our greatest events yet I can't believe there's there's so many people here um The Vibes are Immaculate although I don't know if I'm too old to say that or not but

323. 3:05:30

     it we've said it anyway um I've also been told not to swear but we did that anyway didn't we uh right we have a uh wonderful speaker representative from I've just been told it's Deli but I've been saying Deli for God knows how long uh from Deli Labs his name is Kevin simbach and he is going to talk about a distributed rebellion and his thesis on crypto a from Deli Labs give a big round

324. 3:05:55

     of applause for Kevin please everybody Welcome to the stage thank you really excited to be here today I'm going to talk about our thesis for crypto AI we called it the distributed rebellion and that'll make a little bit more sense to you as I get into to it but first I want to introduce you to kind of what we've been up to at Deli at this intersection of crypto and AI at Deli digital our research company we've published four really

325. 3:06:29

     comprehensive reports covering the entire landscape of decentralized AI we've open- sourced these so they're available to anyone highly recommend you go check them out we'll continue to cover this sector very deeply at Deli Ventures we've been investing in this space for quite a bit of time we're up to about 20 Investments and we were one of the earlier funds to start underwriting in this sector and we

326. 3:06:54

     continue to actively deploy capital and Lead rounds and then just recently we concluded our crypto AI month we had about 15 events with a lot of the thought leaders in the space covering a whole bunch of the relevant topics those were all recorded they're available online again something you can check out I guess just to sum it up we had a lot of conviction in crypto AI very early on

327. 3:07:19

     and that conviction has only since grown and then at Deli Labs we're really excited to partner with near on this crypto AI accelerator cohort we've got eight great teams that we're working with right now um you'll hear about many of them throughout this week and couldn't be more excited we're going to have a demo day next month that showcases all these projects uh again very excited for what we have going on and then before we started this

328. 3:07:49

     accelerator cohort we are very thesis driven at what we do and where we spend our time at Delphi Labs so we took our time to think about crypto and AI from a builder perspective and that's where we developed our thesis the distributed Rebellion so to just start off with a little bit of context on where we're coming from um we want to have a a view of where we think the world is and where it's going now some of you you may recognize this chart it's from the paper situational awareness and it just plots

329. 3:08:20

     the rate of innovation of AI as measured in orders of magnitude improvements and the author thinks that we'll get to AGI in four to five years and then Super intelligence shortly after now whether you agree with that timeline or not it's kind of hard to argue the pace of innovation that's happening in AI right now I think we see this on our timelines every day with lots of new developments

330. 3:08:43

     and so um kind of with that all I I think that this quote by the Google CEO really sums it up it's that the risk of underinvestigated of a few big tech companies or do they lead us down this darker path now the way that we see it is that the utopian path is a world where we have many models small and large Niche and generalized decentralized and centralized they're all coexisting and the point is that gives us Choice the darker path and I don't think

331. 3:09:45

     I'm offending anyone here in this room is a world where you have a couple of big tech companies that have these centralized God models and and you think about that you think about the amount of influence that they would be able to exert if this happens the ability to control the content and the creative output from these models it's a pretty scary proposition but if you're a builder it's more than just that if you're working in

332. 3:10:14

     in AI um and that's your your world then you have to deal with a bunch of risks so for one you've got rug risk at any given time the owners of these models they could change they could limit they could restrict your access it's really hard to build a sustainable business model with that underlying risk factor you have cost performance trade-offs a lot of use cases for AI may not make

333. 3:10:39

     sense financially to be run on these big expensive models and so you're just limiting the potential here you've also got vertical integration what's to stop the big companies from eating up more of the stack and you know ultimately they're going to pursue a strategy of Maximum value creation and we've seen this happen over time with other examples and then of course you have privacy I don't think I need to expand

334. 3:11:03

     on that too much here so we see a world with all of these many models as making so much more sense than relying on a couple a handful of centralized God models then we have to ask ourselves this question of where does crypto fit into all this crypto AI has been criticized a little bit for um in some cases forcing a token where maybe it doesn't need to be and that's fair so let's take a step back and think about how crypto fits in from a first principles perspective and you start

335. 3:11:34

     with well what do we want as Builders and as users we want as I said earlier we want choice we want to be able to pick and choose what services we want to use to meet whatever needs that we have and so to deliver on that choice well what do we need we need infrastructure data routing orchestration payments privacy all of these things this is where crypto really thrives it's bringing these Services together in a decentralized way with crypto incentive

336. 3:12:05

     mechanisms so crypto is a perfect fit for AI when it comes to the decentralized aspects of this many models world that we want to see and that leads us to this decentralized AI stack now I know there's some logos on this page this isn't meant to be a comprehensive view of the crypto AI space we think the one that topology Ventures puts out is really good so check that one out this is just meant to be illustrative and if we break it down very simply into four layers at the bottom you have

337. 3:12:38

     infrastructure this is where we've seen a lot of the early projects bloom in crypto aai it's where a lot of the capital has flowed and that makes a lot of sense if you just look Nvidia today the world's most valuable company capturing a lot of the value um that's kind of where it all starts in an early sector Innovation is just easier to underwrite As you move up the stack into Data that's where we things see things

338. 3:13:01

     getting pretty exciting you can think of data as like an iceberg where the part of the ice that's above water that's the publicly available data and the models today have consumed much of what exists out there the much bigger portion that's underwater that's private data that's data that can be unlocked through crypto incentive mechanisms and in fact three of our eight cohort companies are working on various Data Solutions that

339. 3:13:27

     we are pretty excited about and then moving up to stack at the model layer you have some really interesting Innovations happening here you have um you have things like enshrining models directly into blockchains you have model optimizations this is what is I think really more groundbreaking and where we're going to see a lot of new unlocks that open up the app layer and at the

340. 3:13:51

     app layer that's where over time we see the most value AC crewing we see the most exciting things that are going to be happening and what makes the up layer for crypto AI really interesting is that you have such a large addressable Market because you have all the people all of us out here as users of these applications and then you have all of the AI agents as potential users and so

341. 3:14:16

     all of this put together is what we think is the big unlock and what we have to build and so I'll just kind of wrap things up with a few closing thoughts the first is that it's really hard to overstate how impactful AI will be we also can see though that a world where AI dominated by a few centralized models um either run by companies or or worse by the state that's a dystopian future that we really don't want to see

342. 3:14:48

     um what's so great and what's so important about crypto aai is that it has the opportunity to give us an alternative and actually deliver genuinely better Solutions the good news is here we're still very early the challenge that we all have is that there is just so much to build so everything I've shared here today it's available in much more detail if you read our paper I think there's some hard copies available around here and then it's on our pin tweet at the deli Labs X profile if you're an

343. 3:15:22

     investor or a builder and you want to learn more about what we do uh please reach out or come find me thank you very much he

344. 3:16:58

     all right um don't forget scan the QR codes when they come up on screen and you will earn s and you can swap that s for sandals and war or otherwise I don't know um bitter means please in German which I found out uh a few months back and it's also the name uh of the next project uh we're going to have a wonderful gentleman named Ned gear on to talk about the decentralized agent selector protocol but before that please remember that this man has built diligently

345. 3:17:30

     alongside his team in crypto for six years and has yet to launch a token that is unheard of so please give a big round of applause for Mr nck gear my hello hello hello how is life let's go okay I have a time that I can look at 14 minutes all right there's so much to present uh first off super excited to be here actually mint based the original company was born out of a hackathon at Devcon in 2018 so it's been a very very

346. 3:18:16

     gnarly Journey uh to get to where we're at and to say the least so today we'll be presenting the decentralized agent Discovery protocol I'm sure a lot of you folks have heard a lot about agent this agent that transaction Builder Bas is doing this uh we've been doing this for quite a while and so here's a tweet from May 18th 2023 I had a very hardcore midlife crisis at this point uh there

347. 3:18:40

     weren't a ton of users on near everyone was on evm I said what do we do team and the team just said let's just do whatever we want for a month and so that's what they did instead of switching to evm they went hard on AI and they were able to build these chbt plugins in May 223 uh that WR and compiled contracts deployed contracts and generated UI contracts from abis so that's quite a

348. 3:19:06

     bit right so originally we were mint base uh an nft Marketplace and so we built this in the beginning to kind of do everything that we could do on the nft Marketplace so bitsa was literally created out of how do we mint all my nfts uh and list them for sale and generate an image uh and transfer nfts do all that with natural language was kind of the beginning so this isn't a big pivot for us it was a okay let's see how that works and that then got us to

349. 3:19:38

     where this guy is uh if you haven't messed around with it I think it's one of the most advanced uh blockchain transaction building mechanisms because not only are you you able to build your own agent uh like here we have the safe account assistant this took our team two hours to build uh that allows you to deploy your safe for free to add recovery and do all these sort of things um but it also has chain abstraction at

350. 3:20:02

     the core that means one account can sign for multiple chains so just imagine in a prompt and this isn't me saying imagine in a prompt this is you today being able to go in and say I'd like to deploy a safe on op I'd like to deploy a safe on um Arbitron I'd like to transfer my uh usdc over to here all that stuff is ready to go so this is where I'm super excited to finally partner with people

351. 3:20:28

     outside of the near ecosystem I love the near ecosystem to death but there's a lot of other things going on out there right so safe uh I think is one of the most trusted uh evm ethereum companies around uh they've been building since the beginning they were one of the first Ico folks and to have them sort of working with with us uh is is incredibly powerful um and why we went this route so if you guys aren't familiar with how

352. 3:20:54

     chain abstraction works it uses an NPC which means all of you get all these nodes get private keys but you don't get your private key right they just kind of jumble them up and then you get it at the end of the day it's a little bit scary sometimes because if that MPC dies or someone stops running the the network then you're kind of effed right um so we took an extra 2 months of building to

353. 3:21:17

     basically give you guys nosis saves uh for every NPC account so the MPC account 227 is just a partial owner and you can actually add additional owners so if the MPC dies you can add your own whatever owner and you're still good to go plus this is where the entire evm world is heading right uh smart accounts uh and that's where we get to this new world uh we added walllet connect where we can go in not just with the safe uh you can see my three Network we have ethereum op

354. 3:21:48

     base over on my right I'm saying can you deploy a safe on Arbitron uh and it's just going to go ahead and do that so wallet connect is awesome because now this gets us into you can go buy nfts uh on openc trade on Unis swap uh and connect directly uh using your pits of wallet again this is not about the bit of wallet this is really about the AI transaction building uh behind the scenes picking these agents and so on so we haven't deployed

355. 3:22:19

     a token because I never wanted to get to a point where I said we just deploy a token to deploy a token there's so many governance tokens there's so many all these different tokens that are running no one can really explain the true utility it wasn't until about probably a month ago that we finally had our aha moment so getting to that let's see we've got our first cow swap uh I'm going to see if I can actually do this

356. 3:22:43

     uh because we just launched this today so please bear with me I'm going to go into AI we're going to find our cow agent which is this guy and I'm going to can you swap 0.1 usdc uh on Arbitron main net so this is going to go build the transaction to proceed yes and so really this is about having conversations with blockchains it's not just about building the transaction it's about I need to understand what I'm about to transact I need to use these five different

357. 3:23:18

     websites to do that I want to see how much I have Stak in the in the system I could choose that agent I want to stake more into the system uh and then there it is so I'm going to hit approve we're going to unlock using Pass key if you guys aren't using Pass key for signing I mean I can't use any other wallets it's uh it's really lifechanging um that's a whole other topic where basically the private key gets stored on your pass key not in local storage uh and we use that to to

358. 3:23:49

     assign these sort of messages so here we could see my order on cow swap already uh the transaction is about to process you can see that on near we can go over to here and when this loads up it's probably going to say an open order Arbitron so there it is my order is open if you're not familiar with how Arbitron or How cow swap works it's actually complex multiple Sol are trying

359. 3:24:16

     to get you the best deal so we had to build a bidirectional communication agent that says give me this okay I got you this but it goes back and forth before it finally does that so once this says close we can go look on that in a minute but let's get back to the Token because I'm sure that's probably the most interesting part right the first natural language cow swap right right here using chain abstraction and if you

360. 3:24:41

     aren't keeping up with cow swap uh they're doing far more volume than Unis swap swap they're kind of this Dark Horse behind the scenes that's uh solving the me issue very exciting so we've been focusing on the agent onboarding making this stupid easy for developers to build agents right using a uh command to be able to from scratch make any smart contract into an agent uh we even have this really nice little uh mpm Library called make agent that once

361. 3:25:13

     you go Fork one of these agents that we have it'll fire it up uh the wallet and you can actually interact with this agent with your code from Local Host and it'll update as you go uh you can then go into uh the playground so if you go into AI you go into playground this is where uh your agent will live um and then if you get it verified eventually that'll come into this world again we have all sorts of Agents like staking you can stake you can check your balances you can analyze your wallet you can see all your

362. 3:25:47

     transactions uh and it's it's fascinating so 6 minutes let's see you guys with me still yeah okay back to redacted where are we at um okay AI has two Pathways uh really we're going to become more efficient and everything's going to be okay right or we all become a dystopian monolitic Powers uh that is owned by one person so how do we combat this like for real like you've so much BS over the world we're going to solve

363. 3:26:18

     this sovereignty all this sort of stuff I truly believe this is it agent Discovery needs to be fast safe and decentralized for human thrival this is the key to anyone being able to build their own agents uh load them up into a system and then have a decentralized validator network pick which agent should be uh selected to run those transactions uh and so on so imagine every agent can be a smart contract an

364. 3:26:46

     agent can be just an API tacked on with some uh transaction tools it could be a lot of things um and so here's basically the entire flow of our tokenomics it's much simpler than you think so let's say one agent uh builds you know a bunch of cow swap transactions good for them uh and I would love to hear if anyone else has seen this I'm sure as I'm presenting this we'll see this over and over and

365. 3:27:12

     over again from this idea I I tell you this is as fresh from our brain as as it gets uh so agent we need to combat fraud um even though it builds that cow swap transaction over and over and over again one day it could go oh my God that's a half million dollar transaction I'm just going to like send this money to myself so to me that's the the core of the problem that we're we're we're combating with delegated agent staking so agents

366. 3:27:37

     can stake bits of token uh and other folks in the community can actually stake in that token as well the bigger the stake is the more likely that agent will be selected uh to get a transaction thrown in front we'll be running multiple agents behind the scenes kind of like the same sort of solver Network as uh cow Swap and how that works and uh we'll be keeping a recorded chat log of

367. 3:28:01

     every single uh prompt mutably stored on R weave uh for that record so it's B's job and the foundations to make sure these uh primitive agents get built uh making images building V videos building transactions combat combating fraud and and the validators network to store this information uh and to constantly be rating these agents on speed accuracy price was this a better price or a less Better Price than this other uh piece so and community members can do this we see

368. 3:28:31

     like 70 different cow swap uh agents being built because you're just able to go you Fork the agent you load it up you get it verified and then off it goes it's really about the decentralized uh agent selector to pick and choose which ones have been around for longer which one have great reputation uh which ones have stake obviously if you build a dow uh agent you could probably run that without much stake at all right because

369. 3:28:55

     you're not actually running any transactions that have value it's I want to pay for my users to easily uh interact with my Dows and so on so we are bitsa um I'm super proud of the team I'm like holding back tears a little bit because it's been a battle man six years so let's go any questions oh just for fun since I have three minutes let's see if uh that transaction actually went

370. 3:29:31

     through oh I'm not going to find it this is where I ruin everything oh yeah it's already gone no okay thank you very much right how amazing was that so for this next talk I'm going to introduce it in a way in which I can earn tokens whilst I introduce it and that is because this talk is from Oleg fenco the CEO and founder of sweat and the birther of the movement economy I don't know if I should have said birther

371. 3:30:36

     I don't know if it's an appropriate word well it's 2024 um the title sweat and neara equals consumer crypto so please give a big round of applause for OLG thank you thank you David Woo that's a big stage holy moly uh good to be here thank you very much for finding time to escape those coffees and drinks and cigarettes you know whoever and of course web audience uh thank you very much for checking us

372. 3:31:07

     out so I'm going to talk about slightly different stuff than I guess most of the people here I'm not going to go into massive details on Tech but we're going to talk about the big picture and the future that we are all going to be with the benefit of hindsight looking back and kind of going this is when it really started to happen and the title that I put is very similar to actually the title that you've seen before is what is happening beyond the infrastructure bubble and of course you've seen the

373. 3:31:40

     answer it's consumer crypto but let me give you a little bit of context and we are talking a lot about tribalism in web 3 so in 2009 I was a Bitcoin and the analogy that we're using internally is it's an island right so there are there's an island it's called Bitcoin and there are a bunch of people playing their games there and you know kind of doing that trading and then in 2011

374. 3:32:04

     there was another Island that appeared and then in 2015 a lot more Islands appeared but again they are all Islands they are all separate and as Ilia was saying it's a zero sum game because what started happening that these islands were competing for attention not just users but Builders and Founders now 2019 is getting really really quite big already in terms of number of chains and these are not everything these are not

375. 3:32:34

     all the chains that are in existence but probably just the biggest ones that all of you have heard about now in 2022 it starts to get really really busy I guess the top left over there there you know kind of with a beach in the middle that's probably salana right given what we're seeing right now now in 2024 we have more than a thousand chains in existence some people say 1,800 but you know what once you go above thousand it doesn't really matter we have way too

376. 3:33:06

     many chains and about 200 of them are still in development I'm sure that you've heard of fundraisers that are happening right now you've heard and you've token you've spoken to Founders building new chains about 3 months ago I was at the party in Portugal where 20 people attended four of them were working on new Layer Two and layer one chains because the easiest thing for fundraising for many many years has been to build another chain and all of a

377. 3:33:38

     sudden money was thrown at you now this complexity is not everything around these islands we've been build this gazillion different Bridges we buil you know kind of bilateral Bridges some multi-chain bridges multi-chain dexes cross chain messaging protocols etc etc there is just huge amount of complexity but if you really look at it as a map islands and a lot of stuff connecting them it still is a tribal world every

378. 3:34:09

     island has their own story every island is waving their own Flags you know if you're in salana then you are not you know or you're against other chains if you're on base you are not on other layer twos it is actually fascinating how backwards this thinking is now what happens when all of this is going to burst and it is definitely going to burst because look if you have 1,000 chains and if you look at DBS so decentralized apps that have more than

379. 3:34:40

     thousand users the count of daps is less than 600 so let's use the analogy of rails right the blockchain is a rail we have thousand Railway companies chasing 600 carriages to run on them that's crazy that doesn't work Railway company and rails need to have a lot higher number of daps running on them and a lot higher number of users so we have certainly overinvestment Le because this is over last few years have been the only thing that predictably generated returns for

380. 3:35:22

     Capital allocators now what is going to be next and you've seen it in the title that it is consumer crypto and some people kind of challenge me how do you know how do you know that it is going to be consumer crypto and here I'm going to show my age because we have seen it all before if we think that we web 3 is a unique industry that is working in its own unique way and is completely separate and is not

381. 3:35:54

     going to be developing in the same fashion as other Industries we're kiding ourselves so let's look back in history I already referred to railroads the Nugget that I have is in the UK before 20th century there were 280 Railway companies within 70 years they collapsed to seven then to one and 60% of all of those Railways were pulled out of the ground because they were generating no traffic and there were absolutely no return right now Railways in the UK are

382. 3:36:27

     not generating a penny and it is a disaster in terms of kind of infrastructure maintenance but Railways gave birth to pretty much every industry when I met somebody from the US they said oh I live in Atlanta Atlanta was created on the Confluence of several Railways there was absolutely nothing there Atlanta was given birth by the fact that there was a junction of multiple Railways so it didn't just start things it didn't just

383. 3:36:58

     start Industries it created huge cities that are right now housing tens of millions of people what happened with radio with radio at the beginning all the money were going into Towers into cables into radio sets I don't know if you guys have experienced long waves short waves now we have dab and you know everything else but what is the business model that is sustaining radio right now it's advertising it's consumer

384. 3:37:31

     spending now let's look at television television again Towers cables TV sets black and white then color right now TV set manufacturers are selling their Hardware their TV set set at cost and they make money by pre-installing Netflix Disney plus and TV channel it is all powered by consumer spending now let's look at mobile and this is more recent I'm sure that most of you would remember how much rage

385. 3:38:04

     everywhere we were reading about the networks being built that was a you know uh what was it WAP then there was age then there was first generation second generation third gener fourth generation and there were towers built and we had this handset manufacturers like Nokia you know dominating the world but where is mobile right now and what is happening in Mobile when was the last

386. 3:38:30

     time you read about a mobile network on the front page of any newspaper it's long forgotten everything that is happening in Mobile right now and all the money that is made in Mobile are practically made by Apple and Google and it's it's all happening in a mobile app space now my absolutely favorite and most relevant to all of us I'm sure is internet I'll show my age but I remember

387. 3:38:57

     90s uh Cisco was the largest company in the world in 98 and 99 Sun Microsystems was huge Juniper Networks it was all about servers data centers and building out infrastructure bubble hit in year 2000 and this is a parallel that I think everyone's familiar with right because we're actually tracking adoption of web 3 against the internet and these are the last numbers that were published but

388. 3:39:30

     actually if you looking at the actuals now we are pretty certain tracking about 1999 of Internet adoption what happened in the year 2000 anyone remembers Doom bubble and what happened in Doom bubble all of those infrastructure Investments went basically nowhere but there was a lot of capital on Sidelines and capital allocators and investors needed a new narrative and in early 2000s one very important narrative was born which was

389. 3:40:03

     consumer internet and guess what that is where pretty much all the money made on the internet were made not on the infrastructure investment but on consumer internet 2003 Google 2007 Facebook I'm not talking about gazillion of other companies that potentially have not survived but been acquired and absorbed by these big players but that's where all the returns came from now no matter what industry you're looking at the summary is it always starts with

390. 3:40:35

     infrastructure investment and then it kicks into consumer version of that industry and that what sustains it for the rest of its days and this is where the money are made now if we know that it is going to be consumer crypto and I hope that I've convinced you that there is no other way than going down that path then what are the things that we know about it first it is definitely going to be on the

391. 3:41:04

     mobile because if we want to get next billion people they are not going to be doing this stuff on desktop and laptops there are no billion people around the world that have this on desktop and laptop available able to them the other thing that we know it is going to be a lot simpler ux and I'm calling it chainless because chain to chain to chain is the biggest Boon to any user

392. 3:41:29

     right now we have millions of users in sweat wallet it's very difficult for them to move from one chain to another the third thing is that success has to be defined through active users not tvl that is one of the most important things thing for Founders because if you are building for the next billion people but your Target and success is tvl you not going to be able to build for the next billion people why because as you start building you realize that you can hit your tvl targets by making 10 phone

393. 3:42:00

     calls to big whales what you're going to be building end up is what they're using right now just with high apy maybe with few tweaks on the user experience and that product that is useful to 10 whales is certainly not going to be the product that the next billion people would want to be able to uh would want to use so success has to be active users and I know that there are a lot of kind of arguments oh my god there are so many Bots look this is a problem that we can easily solve but we just need to have a

394. 3:42:31

     mindset to go for active users now last but not least we need to have really really good products and I believe that these products are all going to be around ownership money data access rwa and because we're here and because we realize the power of AI I do believe that a lot of this stuff is going to be powered by AI or at least built using AI now this is basically a framework that we use internally so what is consumer crypto building a mobile really simply

395. 3:43:09

     ux with Target to bring in next billion people and mass market products not another derivative of a derivative of a derivative trading but something that the next billion people will be able to understand and be attracted to now we and I mean we as sweat and sweat wallet we cover these two areas extremely well we understand how to build for mobile we understand how to bring in users but without near we will never be able to deliver this simple ux chainless ux and

396. 3:43:43

     build those Mass Market products now what do we need in order for that to happen and these are the four elements that are basically my interpretation my apologies if you guys are from near I'm potentially using slightly different words for it but there are four fundamental things that power this future one is sharded architecture we've heard today that 200 millisecond blocks amazing high throughput no cap on growth and low transaction costs next

397. 3:44:16

     is chain signatures MPC and fast o this means that we are able to have one front end for any chain and every chain and to use one key to manage all of those actions and one of my favorites given the fact that we're aiming for next billion people we will be able to autocreate accounts on any chain in order to facilitate users actions if they haven't yet jumped onto that chain number three is intense basic change and Bridge you've seen presentation from Alex shenko this is really really

398. 3:44:52

     exciting because if you're talking about swapping keys not assets that's incredibly easier but also a lot safer than the current architectures used for swaps it makes it AI agent ready and also it enables for us and our users an opportunity to pay any fees on any chain with a token that user has rather than having to run around and have dozens of different gas tokens and last but not least is multi-chain oneclick connect that is my absolutely favorite not a lot of people

399. 3:45:28

     in near ecosystem are talking about it but because we are thinking about end user experience it is extremely important because it's like magic I press a button the dab opens and I am already connected and logged in I don't need to click connect wallet go through seven steps use it connect and then I can actually perform an action on the DAP when D loads I can do whatever I want straight away and confirm transaction in my wallet and it will work both ways from wallets to DBS and

400. 3:45:59

     from DBS to wallets so bringing all of this together will enable the future that I'm really excited about and that's the only slide about us so sweat wallet we're building one wallet where you'll be able to hold assets on absolute abolutely any chain you will be able to manage these assets and take any action on them using one key and one key only for the next billion people that is absolutely vital nobody is going to be running around with dozens of accounts and huge number of seat phrases and last

401. 3:46:31

     but not least at least our users cannot comprehend and understand why if they are doing one transaction they need to have BNB in other transaction they need to have eth and that transaction they need to have avax this is not something that you want to educate our users for so we want to make sure that our users can pay everything with sweat and I can tell you it's not just the next billion people but it is people around here they are excited when I tell them that you

402. 3:47:01

     can pay your fees on any chain literally with your feet thank you very much Amigos uh that's all I know so um I said that in part because our next panelist or at least the moderator of the next panel is a brilliant friend of mine he is a Mexican Overlord but not not not in a criminal way um because he's building one of the most incredible liquid staking applications on Nia and Beyond

403. 3:48:01

     and he is going to sit down uh with Mr Oliver nidel I believe from deuts telegam so please give a big warm welcome to clao cosio and Oliver and a big round of applause okay okay okay so we're here finally we're here finally yeah little bit chilly so I CH my dress I I had a t-shirt all of you but uh now it's sorry it's it looks familiar I've seen some of your team members in some of the uh eth

404. 3:48:40

     events all over the world um but then again like tell us a little bit about yourself Olive yeah of course of course yeah first of all thanks for having me here it's a great pleasure to be here in Bangkok um at that great venue very exciting um lot of interesting speeches so far nice people nice surrounding nice food um hope all of you enjoying that um so yeah my name is Oliver Oliver n in German pronunciation it's hard for the

405. 3:49:12

     others um I work at dut Telecom and I'm heading digital trust at deuts Telecom and uh yeah sometimes people ask me what the hell is digital trust um so in that case it's easy to explain digital trust in um my experience means bringing trust to digitized world and uh in a digitized world you need privacy you need need infra um or security info security and uh the three somehow brings trust uh into this digitized world by um yeah

406. 3:49:51

     trust in assets trust in uh networks and Trust in in new economy perfect perfect and and I I think it's important for people that might not be familiar with Dosa Telecom right like what is it that that um DOA Telecom brings to their customers and how did they get into web 3 I think that's a a good underline um start to where why you're here right like yeah um we had a long journey um to web three we we it's kind of a grassroot

407. 3:50:24

     um grassroot opportunity that that we had so in 2016 we started with uh one people Alex he's still uh in the team and he came to us and said web 3 or they didn't call it web 3 that time but that's something quite interesting so we thought okay might be uh we started with ideations uh with innovation we did some projects some proof of concept in Deutsche Telecom but also for potential customers but um some of you may remember um 2017 18 19 it was everyone

408. 3:50:58

     was talking about blockchain but no one had real cases because everyone was thinking in in in web 3 cases so centralized cases but this is the decentralized world so um everyone tried something but no one had a real decentralized um case in mind or behind that so um in 2019 we changed a little bit our Focus so we thought what about supporting infrastructures I mean deut a telecom I don't know what do you know about deuta Telecom but deuta Telecom is um the most

409. 3:51:36

     valuable um Telco company in the world so we do trust and reliable networks for voice since decades for internet since 20 30 years so since the '90s um of the last century um so infrastructures for exchanging things like voice data reliable internet that's part of our DNA so it was somehow obvious um to think also about bringing new stuff into that so reliable um networks for assets for um

410. 3:52:19

     exchanging data in a decentralized manner yeah and that was a starting point for us I think it's important for people to understand like what what's it's DOA Telecom is a really big company right yes and so sometimes understanding the technology takes time and how do you choose the technology what makes made you choose the different protocols you're supporting I think you're supporting more than 17 blockchain

411. 3:52:43

     protocols right now right now more than 17 blockchain we started 2020 with the with the Oracle so that was quite easy chain link so we started with uh some some chain link notes um and then we went further on PKA do chillo also E3 room um and it got more and more at the beginning it was very hard and a hard journey to get there how you explain that to the sea level guys right yeah that was uh it took us years to get on the sea level of deut and Telecom and

412. 3:53:15

     get some support So as I mentioned it was a grassroot and and for deut and Telecom it's yeah I think we have been uh the first Fortune 500 uh in that business that is that support that business um afterwards and then from time to time there have been new networks so we are looking for networks with a with a strong techn technology with uh with a vision uh with with a good ecosystem with a vibrant ecosystem like I see here with um yeah but also also with a

413. 3:53:50

     story to tell the people why should I go into that rep three what does it brings to the community to the people um and also to the businesses so um yeah that's uh I think that's one of the challenges right like how do you justify building all this infrastructure under this protocol for what right and I think Ilia sumarized it really well his talk right he was saying okay so here are the AI

414. 3:54:15

     agents right here is near but then at the bottom here's all the infrastructure right so as I as you already mentioned we have 17 networks supported right now and uh there will be more in the future in the near future so yeah what do you mean the near future yeah as I already mentioned we support a lot of uh customers so we have millions of customers that we support with um yeah phones with connections

415. 3:54:44

     with internet um and nowadays also AI is very very important um for for those people so um what would it be if there would be a network High scalable carbon neutral that supports also with the AI so that would be great isn't it well I think it is right I think that's the reason we're here right exactly yeah um so I'm very proud to um uh introduce today that we as dut Telecom will join the near ecosystem uh so we will be the first TCO um node

416. 3:55:24

     operation um provider or node operator um that will support the great near ecosystem yeah yeah this this is part of a yeah yeah no it's a it's it's uh we're really excited to welcome you to the near ecosystem right for us uh we've been talking to your team for a couple of months and we started talking with Alex right back in Berlin right um e uh Berlin we said hey like what would it look like and I think that's something that we're really excited I I think like

417. 3:55:54

     the AI narrative is that AI Tech that we're building I think that's something that deutche telecom and its customers can leverage and that's something that we think about for the future so we start as a note operator and uh as I already mentioned um it's one of the networks um but the network aren't just for being node operator for us so we do indexing we do staking we have Bitcoin

418. 3:56:20

     nodes we have lightning notes running um but at the end of the day we want to also find something that can be on top of that yeah for our customers um it's not there right now but it will be in the future so well near intense is there near ey is there right so I think this is the the start of a beautiful friendship like say well I hope so I hope so yes and we already live I don't

419. 3:56:44

     know if I have told it so we are already live as a notator I I think since this week um yes went live this week we life H so yeah now through through the metap pool now we're supporting um DOA Telecom right so we're allowing anybody that you that is staking right now near through the metap uh platform just a little bit of background so what we do basically is we help near become be be more decentralized so whenever you go to metol and meant a liquid sing token that

420. 3:57:17

     delegation part a small part of that is going to support the growth of the yes validator node for do Telecom and we support outside of the traditional ecosystem the traditional ecosystem is Amazon um a AWS is azure is maybe Google cloud or something else uh we do this this uh in our own infrastructure open Telecom cloud or um especially also in data centers in Germany so we bring a German security data privacy trust into that reliability into that Network um

421. 3:57:51

     that's um I I think that's an additional Point um that yeah we're seeing the use cases start to spread and I think the Enterprise use case is something that hasn't been really truly explored and I think having a partnership with DOA Telecom will help the near ecosystem leverage not only your knowledge right I think you're one of the key part partners for any application or project to navigate the underlying um how can I

422. 3:58:20

     say challenges about running a um a project on for European customers right having your knowledge of that all your security and more importantly the infrastructure and customers to make a successful go to market that's what I want to do perfect so Ali again like AI is a big theme right I I want to understand de Telecom perspective around it where do you see the opportunities I think there's a lot of Builders here in the audience that would like to tap into the

423. 3:58:50

     years of experience because you seen AI it's not the first time you hear it right no it's not the first time I hear it um you can imagine it's very important for theom in general uh but of course most of the initiatives are web to yeah so traditional stuff um because our customers they don't think in web 3 but doesn't matter we can bring them there um but in the web 2 part I mean GPT is for everyone um it's it's known

424. 3:59:21

     by everyone but it's not really useful for companies that want to secure their intellectual property so uh Deutsche Telecom has a product in Germany on the market we call it business GPT is a dedicated gbt for businesses enterprise Enterprise grade up to large and also small medium Enterprises um we do also some thing in culture I don't know if someone knows Z Opa in one of the world's famous opera houses or at least in Europe I know know how it is over

425. 3:59:54

     here or on the rest of the world um so we used AI um to compose Opera so not to play just music we um used it to compose the Opera and it has then been played by the Dron philonic Orchestra in the S oper for audum so you can use AI in in in many many um different um and and coming back to the use cases there's a lot like I said there's a lot of Builders here right there's a hackathon

426. 4:00:23

     happening as well yeah and what's um and and I want people to come out of this Fireside shat with some of the Lessons Learned right for projects that want to leverage AI from your perspective of course this is should not be considered Financial advice please do your own research right don't don't hold Oliver accountable for that but what's your what advice would you give them right like they're exploring AI for you what

427. 4:00:46

     would what is the lwh hanging fruit the lwh hanging fruit is making it available for the majority and I think that's all always with the new te technology new ideas and we have seen also some examples today so when AI makes the life easier for us for every one of us I mean for us it's easy but there are billions of people outside for them isn't it easy to use it um so that would be the key um for the

428. 4:01:18

     future um to get them there yeah and those people will then support the ecosystem and they support or use the ecosystem yeah you know what the end of the story so for all of us this this is a great answer and and and one of the young and for this growth we need the infrastructure to grow right having deutche Telecom as a partner is key but also decentralization part is important and here a little bit of alpha for everybody for those that are running nodes or are interested in running a

429. 4:01:48

     near protocol blockchain node uh we're launching the professional node program and so if you're interested in running a node and you have and you're bullish on the near protocol ecosystem please go talk to us over there at the metap pool Booth we're going to be running a program it's uh for 10 uh node operators so please reach out to us that's going to be something cool we're helping near become more decentralized and with this

430. 4:02:13

     type of partner ships the near future is bright so Oliver anything last remarks before we leave the stage many thanks for being here um we are looking forward to support the network to support the ecosystem um I like the work with you I like hopefully the work with you in the audience in the future maybe someone of you and uh yeah I'm here for the rest of the day and for tomorrow so something someone wants to

431. 4:02:44

     catch up just I'm very easy to find I just my magenta to to miss where you are so the the invitation is open from Oliver if you're building please reach out to Oliver he's going to be here all day and tomorrow so for for the rest of the day thank you very much everybody and have a great day in Bangkok have a great day byebye all right um uh right okay this is a big one um you've got like three four

432. 4:03:23

     maybe five minutes um until we have the world's most famous whistleblower and a personal hero of mine here to talk to you about uh the future of AI and AI safety and the threat that it might pause to each and every one of us so if you really need the toilet I expect you to run as fast as you can sit down if you sit down stand up if you stand up uh but be back here for 300 p.m. where it

433. 4:03:47

     all kicks off I will see you there God bless billen got a vision in my mind and I'm ready for the LI it's my time on

434. 4:04:48

     Thea call meules the way I'm be spit it perfectly got like circus free build a network branching out burning trees stay while sheep making money Bill making moneyy Bill the currency here talking about it doesn't me cuz we don't want no people L Burger me

435. 4:05:52

     fight please make your way in and take your seats our program will resume in just a couple minutes so make your way to the room and find a seat thank you the

436. 4:07:36

     the a

437. 4:08:47

     please welcome back David Morrison all right look I um they gave me a promotion uh they they took the uh they took the handheld one off me uh I'm just going to be real with each and every one of you in here I don't often get nervous when I stand on stage but right now I am truly bricking myself I think that if we scratch back the Defi degeneracy and we peel away the meme coins and we take our nft profile pictures and put them to the side just

438. 4:09:23

     for a second and we look at the real core of crypto and the values of web 3 and what it stands for um it's going to be personified in this next speaker uh a lot of us have given our time our dedication our money to building this industry in which truth is truly immutable but this next gentleman and a personal hero of mine gave his freedom for it so please give a big round of applause to Mr Edward Snowden I used to work for the

439. 4:09:58

     government but now I work for the public we are seeing the werewolves beginning to Circle it will build a dam around us our digital Freedom hangs in the balance but the revolution isn't coming it's all already here hello everyone how are you woo W big crowd so you know I actually uh spent a little bit of time in Thailand myself I loved it there uh if anybody hasn't done it yet uh you should absolutely try and go scuba diving even if you don't know how you know they they'll do it in a backyard pool in uh your hotel pool

440. 4:10:49

     whatever uh it's amazing it's quick and then you know get out to the reefs it's it's a fabulous place uh haven't been there for a while probably won't be won't uh be back for a while um but look we're here for for for something more serious and this was not the speech that I expected to give uh when I set out to start writing it I've got to say in in industry as a space as an idea as a

441. 4:11:15

     concept uh we are doing very well uh at least in terms of income but that's not how everything should be measured right you look at the charts today uh Bitcoin anything everything's up it's fabulous right people are are are doing well they're they're euphoric but there's a much different Trend that's happening in the world and I think they're intersecting in different ways we have a lever of power in our hands today and I think we're being asked how we want to use it and I

442. 4:11:46

     think most of us haven't reflected on um the implications of that what it means where we're at uh where it should be headed so I've been rereading uh John Stewart Mills on Liberty uh old book I think 1850s uh but it is remarkable how relevant it is today and for any of you I I think it is worth reading um it might seem in the language a little bit wooden but I think you will be surprised how well the concepts have time travel to today uh when we're talking about censorship when we're

443. 4:12:18

     talking about Mass audience when we're talking about the influences of the crowd on the individual uh and of course the state uh versus The Sovereign self or what we want to be the Sovereign self now people know me uh most commonly of course the 2013 Revelations of mass surveillance uh I came for forward and this was something that uh many many people knew was theoretically possible

444. 4:12:48

     uh but they didn't realize that it was practically being done at the scale that it was uh my government and of course many other governments around the world had in secret constructed uh an architecture of Oppression that in many ways simply hadn't been switched on uh it was set to like a passive monitoring mode they could you know stick their Nets in the uh flow over the ocean and pull up the by catch uh which was all of our Lives all of our activities all of our purchases all of our reading all of

445. 4:13:20

     our interaction the games you play what time you're awake where your phone is traveling the cell phone uh location uh information cell site location uh information all of these little things which um individually didn't mean much but in aggregate were a perfect picture of our lives uh they helped the state understand us better than we understand ourselves now uh so many years later we see this technology is spreading everywhere private companies have it of

446. 4:13:53

     course the social media companies uh and now they're starting to feed it to artificial intelligence uh engines sort of inferencing probalistic reasoning models and what's that going to happen what's that going to lead to you know of course Facebook says they're not using this information for training yet uh but their public models are incredibly good uh the open source models uh the private models like you know open Ai and whatnot they they won't even tell you what they

447. 4:14:20

     train on uh but there have been scandals here and there where we've seen you know private data being revealed by a model maybe just because it has access to something through an API uh maybe it's in the training set itself maybe you show leaked uh tokens that were on uh GitHub repo that it scraped uh regardless the idea is that we have more and more disperate little pieces of data that in the past would have been lost

448. 4:14:44

     they would have forgot be forgotten but now they're centralized they're intersected they're recorded they're understood and they're available and they're available to more and more people more and more hands it's no longer just the classified world it's everywhere and to go back to John Stewart Mill um the the very first paragraph of it uh is describing civil liberty what that is um and essentially it's our our our freedom or

449. 4:15:16

     belief uh and where the domain of that uh brushes up against the states legitimate power to sort of shape and interfere uh there is a limit on it uh and that's what civil liberty describes in a legitimate government and the idea is that it's supposed to be Beyond anybody's authority to tell us what to do how to live what to think um we have freedom of opinion uh to a greater degree and

450. 4:15:48

     freedom of action to a certain degree but a lesser degree and the idea here the commonly agreed accepted principle uh is that our actions have more potential uh to sort of step on the people around us uh to harm them and so we make a kind of universal PCT where you can believe whatever you want so long as it causes no harm to others and even where it does as long as it's quiet as long as it's introspective

451. 4:16:19

     as long as it's not going out there and you know burning people's houses down uh it's okay now we know uh that this boundary has been trampled on in the past but typically we consider these to be tyrannies we consider these to be illegitimate governments and I I think what John Stuart Mill might have called in the past something we're all familiar with the Tyranny majority has begun to become something new that we're not really even

452. 4:16:52

     aware of but we see it happening and influencing every day and that's that there's a new tyranny of mediocrity when you feed everything into a probabilistic reasoning machine uh whether that is an AI diffusion model uh that studies all the artwor in the world at least that's publicly reachable compresses it into a you know 3D latent space and then you give it terms and it searches in that and it

453. 4:17:23

     throws out what is the likeliest outcome of what you're describing that is averaging down uh human creativity that is averaging down Human Experience uh now they apply a seed and some Randomness to it we can get more original results here or there but it's the same thing with the algorithm on social media right your timeline whether it's Tik Tok whether it's Instagram whether it's Twitter I guess we're not allowed to call it

454. 4:17:49

     Twitter anymore but it's still Twitter um it's the same thing with crypto with mem coins with the trends with the meta that everybody is chasing uh and I think we need to reflect on the chains that are being placed on us uh by the expectation of the average you see that in politics uh we just had a presidential election where surprisingly uh the candidate that was pandering the hardest to the polls uh was actually the conventional candidate uh KL

455. 4:18:28

     Harris um this is the one that's pole testing that's looking everything that's trying to uh appeal to the most people that's going oh we're going to steal the Republicans back by pretending to be Republicans we're going to out Republican the Republicans uh and then somehow they lost uh and that's because it ended up being an election between someone who was uh very obviously fake and someone who was more authentic even

456. 4:18:51

     though they're they're lying half the time anyway uh and what this reveals I I think is there is a a hunger for something original uh something that is true to itself even if it's not true uh true to itself true in belief right true in in in in Direction um and that's that's not a reflection on a a candidate or an individual saying you know one of these people is wonderful one of these people is not it's a recognition of ourselves what we're reflecting or what we're

457. 4:19:22

     looking at how we're seeing the world how we're seeing these timelines we are viewing everything through a pain of glass uh we're looking down at a screen you know in a restaurant in a Subway on a plane you see everybody like this you know looking at what's in their hands um and that that's not just shaping our beliefs that's shaping ourselves it's changing us we are being forced into molds uh and Everywhere You Look whether it's advertising they are targeting this moving average that's

458. 4:19:52

     constantly being shaped they are ping it themselves and you the result is a grayscale good uh something that is not exceptional but it's appealing in many ways they they try to reach that uh this this this global average these beautiful mid Journey images that no matter how different they appear to be eventually begin to strike us as obviously all the same uh you go shopping you look at reviews you see people unboxing things

459. 4:20:22

     uh and there's an increasing sense of sameness where they're incremental upgrades they are improvements right they're a little better than last time but there's a little less wow in the world and I worry about this on the social level I worry about this on the economic level when you think about uh social media when you think about YouTube when you look at like the subscriber counts and things like that

460. 4:20:45

     when you look at authors the books that are being read when you look at movies when you look at the TV shows that are being talked about uh it's a winner taker all world and this is not new this is not revolutionary people have heard about it but what where where does that start to reach us um I think what's happening is that there's a increasing equality of outcome and that sounds like a good thing right we go oh luxury space

461. 4:21:10

     communism right uh but it's not that um in fact there something much worse we have a quality of outcome uh but only for those of a certain income and for the average the income is declining because in a winter take all World our share of the pie is constantly decreasing uh whereas those who have the attention those who are you know uh the big attention getter um or receiving the Gaze of big eyeball uh they are getting it all more and more

462. 4:21:47

     more and more uh and it's a question of what they do with it well okay so the thought leaders of the world today are they leading us in a good direction does the world feel better uh to you now politically intellectually than it did four years ago eight years ago 12 years ago 20 years ago um a lot of people look back at the 90s now with a sense of nostalgia and it's funny because back then it was a little bit fra H and you know I I I I don't want to take us all the way through uh

463. 4:22:19

     introspection endlessly here because I know we have limited time but I want to argue uh against that Dynamic for a little bit because I I think that's what it's about I think this crowd particularly can understand a little bit better than the average because the reality here is if you are in this room you're not average you're weird um you're strange you unusual uh whether you're trying to you know get rich quick which is a little bit uh you know a commonality that

464. 4:22:52

     everybody has you know it's the hope it's the dream or you're actually working uh to make something new try something new understand something different now you're putting the work in uh and the reality of Human Experience ladies and gentlemen is largely passive people imitate uh they look at the great figures they look at the great uh sort of stories of our past they imate and they emulate they try to take something

465. 4:23:17

     from themselves they try to use it as their model and eventually maybe in themselves through the process of experimentation they find something new they find something work that works for them they find something that somebody else hasn't tried before and that ladies and gentlemen is in fact what it's all about I've got very young children right and they they love to imitate you give them a new word they'll be saying it all day there's nothing wrong with that uh

466. 4:23:40

     recognizing the average seeing what is around you uh that is common that is popular means it is in many cases useful in many cases it means that it's effective but not in all and the power of this audience the power of our space the power of what we do is recognizing that the systems around us have worked and maybe can continue to work uh but they have weaknesses they have limits to their Authority legitimate or illegitimate and we can change that we do not have to accept the

467. 4:24:12

     world as it is we do not have to accept the world as we've inherited it whether we're talking about money whether we're talking about Finance whether we're talking about creativity we have to do something different than what we inherited or what are we doing at all the power of this game of life in which We're Playing Our Round right now you in this room here doing you know you're in Thailand

468. 4:24:35

     um this is a fabulous thing uh but there are limited rounds we have limited days I you have to recognize that when we're talking about the tyranny of majority we have to find in ourselves a right to heresy uh we have to violate the Orthodox uh we have to recognize in ourselves the heterodox uh what is unusual about ourselves and nurture that uh it's not to say that what's good for you is good for everybody it's not that you want to

469. 4:25:07

     make everybody else just like you this is actually one of the problems of conflict in the world today you see a lot of people worried that their you know culture their way of life is being erased uh but it's this same Dynamic that we've talked about it is the oppression of the average it is the fact that we are trying to be molded we are trying to be stamped with a common template the known good configuration uh and we recognize in ourselves there's a part of us that

470. 4:25:37

     doesn't fit no matter how normal we are no matter how ordinary we are nobody fits in the cie cookie cutter perfectly there's a part of the dough that will be cut off that will be removed that will be left you know as the crumb and that is a loss to the soul you know that that is the part of us that part that doesn't fit that's the most special part of us and we want to rescue it we want to make something of it we need to recognize that within our communities we need to recognize that within our peers and we

471. 4:26:08

     have to be willing to to fight for it because that difference is as you know I said reflecting on children that's the root of progress uh that is the core of the new method the Beating Heart of the new meta uh that is undiscovered uh we make it happen by being weird and by being committed to our weird and it's not the thing where you know somebody points it out and we're a little bit embarrassed

472. 4:26:38

     we're a little bit reluctant we laugh it off you know not saying be a jerk uh but I am saying recognize that the differences the idiosyncrasies the eccentricities of the self uh are the most valuable parts of you and the timeline is going to sand them off right you are going to get likes for the things that people agree with and you are going to have the posts that you know nobody recognizes nobody comments on maybe nobody agrees with it but you keep iterating on the theme you keep

473. 4:27:11

     recognizing ing what is U unusual and special about yourself and you can escape you can find your way out of that shadow Conformity you know I I I was asked to Pine on digital sovereignty what that means uh con uh in policy terms classically uh the way we've seen it start to apply is governments trying to regulate the internet uh within their own borders saying oh you know you guys can do this and that but what comes in

474. 4:27:43

     our territory you have to answer to our government you know you have to turn over your records this that and the other this was seen quite recently with telegram right uh the marketed as secure messenger it certainly uh wasn't before but it especially is not so now that the French government and basically every Western intelligence agency has this poor guy uh locked in a hotel room in in

475. 4:28:05

     Paris and threatened with jail if he doesn't cooperate um but it's to recognize this uh just as everything else is is trying to be erased in the form of large political uh International blocks uh borders are trying to be erased uh digital sovereignty is not um this thing that they're uh describing where you know we they try to regulate the internet for our purposes uh digital sovereignty in the purpose in the for the purposes of

476. 4:28:39

     the individual uh is where we recognize that there is a civil liberty for the internet and for our interaction with it for our systems whether we're talking about our money whether we're talking about our connection uh whether we're talking about our writing whether we're talking about our reading there are legitimate uh uh limits on their authority to regulate and the only way to preserve our digital sovereignty is be cre to create our own

477. 4:29:12

     systems uh that are enforced Through Math uh that are enforced through uh architecture uh that no level of law or influence or you know grabbing some guy at a hotel room uh or everyone in this conference uh and throwing in M Jael cell will be able to change and this is the importance of things like the original uh sort of Bitcoin idea is that there is nobody that you can put under the gun to change it now we've seen a lot of inventions we've seen a lot of uh

478. 4:29:44

     novelty and Innovation uh since then and some of it's been powerful some of it's been useful uh but it's important to remember this or principle uh the things that we took for granted in the last decade uh can no longer be counted on to be left alone as the price Rises as we see you know the black rocks come into the community as we see the big Banks enter it as we see governments begin to talk about strategic reserves and

479. 4:30:11

     Investments the uh arms race gets sparked in our domain where they're trying to compete for part of the new territory we have to recognize that more and more encroachments are coming into our communities I don't care how strong you are I don't care how principled you are I don't care how brilliant you are as long as you have a physical body that they can reach uh they are going to try their best to put their influence upon you uh and whether it crosses uh or when

480. 4:30:42

     it crosses from that border uh of the legitimate exercise of authority to the illegitimate uh expression of it will you be prepared and that's the question we as a community need to ask ourselves uh we need to ask these projects and we need to think about uh what happens tomorrow for mem coins you know it doesn't matter these things have no meaning anyway they're they're chasing the trend it's uh sort of a popularity contest for a moment for the round it is a game we

481. 4:31:13

     recognize that for what it is if you want to play okay fine so long as you're not hurting anybody it's the the same thing is sort of uh the freedom of opinion but uh when you're playing for real Stakes when it's no longer a game we're playing games of Power uh you need to be ready you need to make sure that your digital footprint uh your your digital Homestead cannot be colonized it can't

482. 4:31:38

     be oppressed it can't be taken out from underneath you uh by any State uh and with that I'll say let's open it up for questions brilliant brilliant Edward thank you look I bought this t-shirt I had to buy it from a uh had to buy it from a from a from a Twilight fan site um but but Team Edward right Team Edward big time um so it might look weird to the I can see Ed here on the on the screen um so to my bosses you can find

483. 4:32:16

     me if I want but this is my copy of opponent record I got it as soon as it came out I've read it three times it's a brilliant amazing book Ed I think it's unlikely we're going to cross in the street this week um but I've written a little message and I know it's not the same as you signing it but if you could just give your approval and look you said be weird right so I'm just going to be myself so I've written uh to David my number one

484. 4:32:40

     fan keep fighting the good fight sport lots of love PS the truth reain Supreme and there's a little Gap here that I'm going to sign with Edward Snowden if you say if that's okay oh please do and don't uh don't don't be shy about adding don't don't be shy about adding at the very bottom there stay free all thank you that's going straight on eBay Stay Free and stay weird all right well look it's got coffee stands on it I've used it that much all right we have a a

485. 4:33:11

     few question questions prepared and I'm I'm so excited to ask you them um so you spoke about it a little bit uh you can call it the regime change I know some people around the world would say that uh but given the US election results um where do you think the US goes now in terms of privacy and security you know he's talked about dismantling the deeps there and and gutting out the government whether or not he does I don't know but

486. 4:33:36

     what direction do you think it's heading yeah I I mean this is difficult it it's it's funny because the uh you know crypto Community has really gone all in for Trump but of course because he said nice things in in some areas but it's much more complex uh speaking more broadly uh frankly I think he's not especially tuned into this so it's not something that's going to be driven at the presidential level but I do think

487. 4:34:01

     there is a maximalism uh for power for influence and that's common to all presidents uh the question is just you