1 00:00:04,600 --> 00:00:07,680 Speaker 1: So the big question is this, how do investors like 2 00:00:07,880 --> 00:00:11,800 Speaker 1: us get access to the ideas, information, and most importantly, 3 00:00:12,039 --> 00:00:14,880 Speaker 1: the right people that give us the tools and information 4 00:00:14,960 --> 00:00:19,000 Speaker 1: we need to make informed and educated decisions to have success. 5 00:00:19,600 --> 00:00:22,360 Speaker 1: That is the question, and this podcast will give us 6 00:00:22,360 --> 00:00:25,480 Speaker 1: the answers. This is Mark Moss, your host. Let's get 7 00:00:25,520 --> 00:00:28,080 Speaker 1: this started. Hello, and welcome to another episode of the 8 00:00:28,120 --> 00:00:31,560 Speaker 1: Market Disruptors podcast. Today I am sitting down with Olga 9 00:00:31,760 --> 00:00:36,040 Speaker 1: mac and she is the VP of Strategy at quantz Stamp. 10 00:00:36,520 --> 00:00:40,279 Speaker 1: They look at smart contracts and we dive into smart contracts, 11 00:00:40,400 --> 00:00:43,080 Speaker 1: what they are, why they're important, how they're being used, 12 00:00:43,640 --> 00:00:46,120 Speaker 1: problems that we could find with them, and how we 13 00:00:46,159 --> 00:00:49,239 Speaker 1: can mitigate the risks. So much good information in this 14 00:00:49,320 --> 00:00:51,480 Speaker 1: that you need to hear about smart contracts, which really 15 00:00:51,800 --> 00:00:54,440 Speaker 1: the whole system revolves around. So let's go ahead and 16 00:00:54,440 --> 00:00:57,240 Speaker 1: just jump right into with Olga. Everyone, Welcome to another 17 00:00:57,280 --> 00:01:00,440 Speaker 1: episode of the Market Disruptors podcast. Today, I am joined 18 00:01:00,720 --> 00:01:03,320 Speaker 1: by Olga and she is the VP of Strategy at 19 00:01:03,400 --> 00:01:05,959 Speaker 1: quant Stamp. She's a co author of a book, The 20 00:01:05,959 --> 00:01:09,759 Speaker 1: Fundamentals and Smart Contract Security UM. She's an attorney by trade, 21 00:01:09,800 --> 00:01:11,800 Speaker 1: but she's also been kind of in the digital Space, 22 00:01:11,800 --> 00:01:13,800 Speaker 1: Payment Space worked with Visa in the past, a really 23 00:01:13,920 --> 00:01:16,600 Speaker 1: unique perspective and I'm excited to have you on OLGA. 24 00:01:16,600 --> 00:01:19,960 Speaker 1: Thank you for joining time Market's fantastic to be here. 25 00:01:20,120 --> 00:01:23,720 Speaker 1: I appreciate you're in white. All right, So, UM, we 26 00:01:23,840 --> 00:01:26,000 Speaker 1: got a lot to talk about today. UM, but why 27 00:01:26,040 --> 00:01:27,920 Speaker 1: don't you just kind of frame it up a little 28 00:01:27,920 --> 00:01:29,880 Speaker 1: bit UM for those that don't know, I mean, I 29 00:01:29,880 --> 00:01:31,360 Speaker 1: gave you a good intro, but for those who don't know, 30 00:01:31,440 --> 00:01:33,880 Speaker 1: tell us who you are, kind of what you've been doing, 31 00:01:33,959 --> 00:01:35,840 Speaker 1: how and how you get to the space, and specifically 32 00:01:35,920 --> 00:01:39,520 Speaker 1: what you're doing now. So, as you mentioned, I'm a 33 00:01:39,600 --> 00:01:42,959 Speaker 1: VPF Strategy at quant Stamp. Quan Stamp is on the 34 00:01:43,040 --> 00:01:49,480 Speaker 1: interstection of blockchain smart contracts and security. Way make sure 35 00:01:49,600 --> 00:01:53,920 Speaker 1: that the smart contracts that companies and projects put out 36 00:01:54,000 --> 00:01:57,520 Speaker 1: in the world, UM that they're secure and that the 37 00:01:57,600 --> 00:02:01,480 Speaker 1: assets that people put in them are not stolen or 38 00:02:01,600 --> 00:02:04,720 Speaker 1: locked out. Uh So, to the extend you care about 39 00:02:04,800 --> 00:02:09,280 Speaker 1: your assets, UM, I highly recommend thinking about how secure 40 00:02:09,320 --> 00:02:12,280 Speaker 1: they are. UM. As as you mentioned in my prior lives, 41 00:02:12,320 --> 00:02:16,079 Speaker 1: I have been uh an attorney, I've been at numerous startups. 42 00:02:16,440 --> 00:02:19,280 Speaker 1: I've also been a big company such as Visa and 43 00:02:19,480 --> 00:02:23,320 Speaker 1: law firms. I am a tech lawyer by design. UM. 44 00:02:23,639 --> 00:02:27,440 Speaker 1: I've been on the cutting edge of various technologies, and 45 00:02:27,760 --> 00:02:30,960 Speaker 1: I've been always on the privacy security side. So those 46 00:02:30,960 --> 00:02:34,160 Speaker 1: are sort of my passions. They seem to be very 47 00:02:34,200 --> 00:02:38,880 Speaker 1: combineable in blockchain and crypto, and I'm really excited about 48 00:02:38,919 --> 00:02:42,960 Speaker 1: the space. Yeah, so that's interesting. So your background being 49 00:02:42,960 --> 00:02:47,959 Speaker 1: in tech UM security and privacy UM, which I would 50 00:02:48,000 --> 00:02:50,040 Speaker 1: imagine would have been would was a challenge in the 51 00:02:50,080 --> 00:02:53,120 Speaker 1: more centralized days and today with a new technology because 52 00:02:53,120 --> 00:02:55,000 Speaker 1: I give you like a lot of new tools that 53 00:02:55,040 --> 00:02:58,280 Speaker 1: you can use to really help the privacy and security piece. 54 00:02:59,360 --> 00:03:01,560 Speaker 1: So you have the right security and privacy and not 55 00:03:01,800 --> 00:03:05,520 Speaker 1: new challenges. We've had them for a while. We had 56 00:03:05,560 --> 00:03:09,639 Speaker 1: them before Internet, We've definitely had them during Internet, and 57 00:03:09,680 --> 00:03:12,400 Speaker 1: we will have them in web to three point oh 58 00:03:12,639 --> 00:03:16,720 Speaker 1: and and and and more. UM. Those are challenging their 59 00:03:16,800 --> 00:03:21,600 Speaker 1: evolving challenges UM, and they with every technology, you have 60 00:03:21,960 --> 00:03:25,679 Speaker 1: different different flavor of challenges and so it's really fun 61 00:03:25,720 --> 00:03:28,480 Speaker 1: to see the evolution of the challenge. It's also fun 62 00:03:28,520 --> 00:03:31,840 Speaker 1: to see the evolution of solutions, and frankly, it is 63 00:03:31,880 --> 00:03:36,440 Speaker 1: also fun to see UM how other people who challenge 64 00:03:36,680 --> 00:03:39,520 Speaker 1: space the crooks because they have access to the same 65 00:03:39,520 --> 00:03:44,200 Speaker 1: technology and um and and it is an ongoing, evolving 66 00:03:44,240 --> 00:03:48,160 Speaker 1: space for everyone. Yeah. So one piece of the space 67 00:03:48,200 --> 00:03:51,160 Speaker 1: that I'm super interested in and everybody should because it's 68 00:03:51,160 --> 00:03:53,560 Speaker 1: really the lynch pin maybe for the whole space, is 69 00:03:53,600 --> 00:03:57,280 Speaker 1: just the smart contract piece. And so I wanted to 70 00:03:57,280 --> 00:04:00,680 Speaker 1: spend some time talking about that. UM. And as you 71 00:04:00,720 --> 00:04:04,640 Speaker 1: mentioned with quans stamp, you're looking at smart contracts security. UM. 72 00:04:04,720 --> 00:04:07,040 Speaker 1: Now when we were talking before we started, you said 73 00:04:07,080 --> 00:04:08,960 Speaker 1: it's it is the space, right, so it kind of 74 00:04:09,040 --> 00:04:11,280 Speaker 1: is everything. UM, So maybe just tell us a little 75 00:04:11,320 --> 00:04:13,880 Speaker 1: bit kind of like what smart contracts are and how 76 00:04:13,880 --> 00:04:16,280 Speaker 1: they're being used and why they're so important. Yeah. So 77 00:04:16,360 --> 00:04:19,000 Speaker 1: smart contracts are you know, that's sort of a still 78 00:04:19,000 --> 00:04:22,120 Speaker 1: a name. As everyone knows, they're not smart you know, Mark, 79 00:04:22,200 --> 00:04:25,440 Speaker 1: you're very smart. Um, they're not that kind of smart. UM. 80 00:04:25,640 --> 00:04:28,840 Speaker 1: And they are not really contracts. They're not they're not 81 00:04:29,120 --> 00:04:31,880 Speaker 1: a bunch of legalies where you sign your name at 82 00:04:31,880 --> 00:04:34,800 Speaker 1: the bottom. What they are they are pieces of code. 83 00:04:35,320 --> 00:04:40,200 Speaker 1: And those pieces of code do three things. They store rules, 84 00:04:40,640 --> 00:04:45,240 Speaker 1: they verify rules, and they sell execute rules. So they 85 00:04:45,320 --> 00:04:48,360 Speaker 1: do those put the functions U and many folks compare 86 00:04:48,440 --> 00:04:51,159 Speaker 1: them to vending machines. So if I would like to 87 00:04:51,320 --> 00:04:54,400 Speaker 1: have a snack of choice, I go to a vending machine, 88 00:04:54,440 --> 00:04:58,279 Speaker 1: I put a dollar. Um Uh, it stores rules that 89 00:04:58,360 --> 00:05:00,440 Speaker 1: if you put a dollar, you get as knack of choice. 90 00:05:00,839 --> 00:05:03,839 Speaker 1: Once I put a dollar, it verifies that this dollar 91 00:05:03,960 --> 00:05:06,400 Speaker 1: is correct and that I meet the amount and then 92 00:05:06,440 --> 00:05:09,960 Speaker 1: tower while a beautiful moment, I get my snack of choice. 93 00:05:10,160 --> 00:05:12,800 Speaker 1: So that's like, it's like logic, right, if this, then 94 00:05:12,920 --> 00:05:16,920 Speaker 1: that this, then that it's and and they get very 95 00:05:16,960 --> 00:05:20,960 Speaker 1: powerful when uh, there's more than one smart contracts and 96 00:05:21,240 --> 00:05:25,000 Speaker 1: it is a back and technology, most consumers do not 97 00:05:25,279 --> 00:05:28,720 Speaker 1: see it. If it's done right, and it's highly combinable 98 00:05:28,800 --> 00:05:33,120 Speaker 1: with other technologies like data or AI. And in fact, 99 00:05:33,160 --> 00:05:36,120 Speaker 1: when you combine that, that what makes it super powerful. 100 00:05:36,680 --> 00:05:39,680 Speaker 1: Um and so that that's the technology, and it can 101 00:05:39,720 --> 00:05:43,920 Speaker 1: power quite a few things, and exciting applications are possible 102 00:05:43,960 --> 00:05:46,440 Speaker 1: with it. Yeah, I've heard, you know, I get a 103 00:05:46,480 --> 00:05:48,920 Speaker 1: lot of questions about smart contracts, and people think they're 104 00:05:48,920 --> 00:05:51,279 Speaker 1: going to replace like law firms and things like that. 105 00:05:51,360 --> 00:05:54,280 Speaker 1: But I don't think that's quite it, right, So it's 106 00:05:54,279 --> 00:05:57,480 Speaker 1: more about logic, if this than that and the more 107 00:05:57,480 --> 00:05:59,320 Speaker 1: about the way things can kind of work together and 108 00:05:59,360 --> 00:06:01,719 Speaker 1: not so much like rule or govern over things. Is 109 00:06:01,720 --> 00:06:05,320 Speaker 1: that is that about? Right? Um? Let me I I 110 00:06:05,400 --> 00:06:07,320 Speaker 1: have a little bit more. You you sort of right, 111 00:06:07,400 --> 00:06:09,559 Speaker 1: but let me give you one nuanced way of looking 112 00:06:09,600 --> 00:06:13,240 Speaker 1: at it. Um, there is a world of smart contracts. 113 00:06:13,320 --> 00:06:16,120 Speaker 1: Let's sort of imagine the event diagram. There is a 114 00:06:16,120 --> 00:06:18,640 Speaker 1: world of smart contracts, and there is a word of 115 00:06:18,760 --> 00:06:21,960 Speaker 1: legal contracts, and imagine that those are two circles, and 116 00:06:22,000 --> 00:06:26,200 Speaker 1: there is an overlap. So there are some legal contracts 117 00:06:26,240 --> 00:06:29,960 Speaker 1: that may be replaced by smart contracts. And there's also 118 00:06:30,040 --> 00:06:32,720 Speaker 1: some smart smart contracts that are not legal contracts. And 119 00:06:32,720 --> 00:06:35,080 Speaker 1: there are some legal contracts that are not smart contracts, 120 00:06:35,160 --> 00:06:38,560 Speaker 1: so there could be an overlap. And uh, there is 121 00:06:38,600 --> 00:06:41,039 Speaker 1: a really great white paper by the Chamber of Digital 122 00:06:41,120 --> 00:06:47,440 Speaker 1: Commerce to what extent if the contract legal contract becomes 123 00:06:47,560 --> 00:06:50,880 Speaker 1: smart contract, whether it's enforceable um. And there are a 124 00:06:51,000 --> 00:06:52,880 Speaker 1: number of law of view articles and there in a 125 00:06:52,960 --> 00:06:57,080 Speaker 1: white paper, and most scholars and practitioners agree that should 126 00:06:57,120 --> 00:07:00,360 Speaker 1: this become a legal issue, it is highly likely those 127 00:07:00,440 --> 00:07:04,920 Speaker 1: legal contracts will be enforceable UM if they're executed by 128 00:07:04,960 --> 00:07:08,520 Speaker 1: smart contracts. However, you are correct that most smart contracts 129 00:07:08,560 --> 00:07:11,320 Speaker 1: are not legal contracts. They're just pieces of code. And 130 00:07:11,360 --> 00:07:14,320 Speaker 1: the beautiful thing about those pieces of code and the 131 00:07:14,360 --> 00:07:18,280 Speaker 1: reason why smart contracts are in my view, the application 132 00:07:18,360 --> 00:07:23,120 Speaker 1: of blockchain is that they embody sort of traditional business lodger, 133 00:07:23,440 --> 00:07:27,840 Speaker 1: any business, any function sort of operates on EVE then 134 00:07:27,840 --> 00:07:31,360 Speaker 1: E then statements uh, and smart contracts are sort of 135 00:07:31,360 --> 00:07:37,800 Speaker 1: an opportunity to to uh combine it all together and automated. 136 00:07:37,920 --> 00:07:40,960 Speaker 1: And so that's why you see most applications of smart 137 00:07:41,000 --> 00:07:45,200 Speaker 1: contracts at this time in in inefficiency type of space, 138 00:07:45,520 --> 00:07:50,400 Speaker 1: in making things better, faster, reduced paperwork, cheaper, those types 139 00:07:50,440 --> 00:07:53,400 Speaker 1: of things. That is the first wave of application of 140 00:07:53,440 --> 00:07:56,880 Speaker 1: smart contracts. My prediction that we're gonna be in this 141 00:07:56,960 --> 00:08:00,280 Speaker 1: space for a while um, and that would actually fuels 142 00:08:00,320 --> 00:08:05,400 Speaker 1: adoption and curiosity by many enterprises. But I think over time, 143 00:08:06,000 --> 00:08:11,080 Speaker 1: especially combined with other with other technology and data, um, you, 144 00:08:11,200 --> 00:08:14,560 Speaker 1: we will be able to solve what I call unsolvable problems, 145 00:08:14,760 --> 00:08:18,040 Speaker 1: problems that we sort of gave up solving or didn't 146 00:08:18,040 --> 00:08:21,000 Speaker 1: even think that other problems. Uh. And the next wave 147 00:08:21,040 --> 00:08:25,200 Speaker 1: of innovation will be combining the technologies and completely rethinking 148 00:08:25,200 --> 00:08:28,400 Speaker 1: how we do business. Yeah, so if if I have 149 00:08:28,480 --> 00:08:30,760 Speaker 1: this right, then you said, there's like the there's like 150 00:08:30,800 --> 00:08:34,200 Speaker 1: the legal contracts and the smart contracts. So legal contracts 151 00:08:34,240 --> 00:08:38,000 Speaker 1: are ones that might need to be decided on by somebody, right, 152 00:08:38,040 --> 00:08:40,480 Speaker 1: So like you and I have a business contract and 153 00:08:40,760 --> 00:08:43,679 Speaker 1: there's a breach and we have to go before arbitrator, 154 00:08:43,760 --> 00:08:46,880 Speaker 1: judge or something to rule over that contract, versus like 155 00:08:46,920 --> 00:08:49,520 Speaker 1: a smart contract, it's something that would be decided on 156 00:08:49,640 --> 00:08:52,840 Speaker 1: by the code, right, and it would, And so it's 157 00:08:52,840 --> 00:08:55,720 Speaker 1: really more about ways that things are working together and 158 00:08:55,760 --> 00:08:58,040 Speaker 1: not like the legal contract that that would be a 159 00:08:58,040 --> 00:09:00,080 Speaker 1: different way, because like laws, like something that's argued it 160 00:09:00,120 --> 00:09:04,240 Speaker 1: over right and sometimes decided on. If some parts of 161 00:09:04,320 --> 00:09:09,720 Speaker 1: legal contracts could be automated, and some contracts legal contracts, 162 00:09:09,760 --> 00:09:13,440 Speaker 1: anybody whoever negotiated a ligal contract know that they're often 163 00:09:13,520 --> 00:09:18,440 Speaker 1: deliberate gray areas because parties may or may not know 164 00:09:18,520 --> 00:09:21,640 Speaker 1: what's gonna happen in the future and may want to 165 00:09:21,679 --> 00:09:24,360 Speaker 1: be able to argue about that future. So to the 166 00:09:24,360 --> 00:09:28,080 Speaker 1: extent you want to have a bright line and self execution, um, 167 00:09:28,160 --> 00:09:30,600 Speaker 1: you may want to put smart contracts on that function. 168 00:09:30,920 --> 00:09:32,640 Speaker 1: And to the extent you may want to have a 169 00:09:32,679 --> 00:09:36,600 Speaker 1: gray area maybe not, So there's sort of benefits to 170 00:09:36,720 --> 00:09:38,839 Speaker 1: both those decisions to be made. So let me give 171 00:09:38,840 --> 00:09:42,000 Speaker 1: you an example. Sometimes, you know, if you are clear 172 00:09:42,080 --> 00:09:45,559 Speaker 1: about what performance leads to payment, you may want to 173 00:09:45,600 --> 00:09:47,560 Speaker 1: put it on a smart contract just to make sure 174 00:09:47,600 --> 00:09:52,000 Speaker 1: that you don't have to invoice and you automatically get payments. 175 00:09:52,040 --> 00:09:55,760 Speaker 1: In supply chain, you often have this kind of UM 176 00:09:56,120 --> 00:09:59,280 Speaker 1: records that have to be submitted for the objects to 177 00:09:59,360 --> 00:10:02,880 Speaker 1: move through summers and so if you want to automate 178 00:10:02,920 --> 00:10:08,520 Speaker 1: that function UM and you get various clearances and various permissions, 179 00:10:08,800 --> 00:10:13,040 Speaker 1: if those are automatically submitted, the they you have automatic 180 00:10:13,720 --> 00:10:17,040 Speaker 1: execution of the function. So some things that are are 181 00:10:17,160 --> 00:10:20,760 Speaker 1: great to be for to be put on smart contracts, uh, 182 00:10:20,760 --> 00:10:23,240 Speaker 1: and some things that are probably still gonna be part 183 00:10:23,240 --> 00:10:26,840 Speaker 1: of our legal universe. Sure. So um as as part 184 00:10:26,880 --> 00:10:30,080 Speaker 1: of Quanstamp, you're looking over smart contracts and helping to 185 00:10:30,080 --> 00:10:31,800 Speaker 1: make sure they're secure and stuff like that. So I'm 186 00:10:31,840 --> 00:10:34,480 Speaker 1: guessing you're you're really at the forefront of these smart 187 00:10:34,480 --> 00:10:37,679 Speaker 1: contracts and really seeing what's going on. So how are 188 00:10:37,720 --> 00:10:40,840 Speaker 1: they being used today, Like what's really happening today or 189 00:10:40,880 --> 00:10:43,040 Speaker 1: what's what's right on the verge, like what's kind of 190 00:10:43,080 --> 00:10:45,280 Speaker 1: like this next wave of worre smart contracts you're really 191 00:10:45,280 --> 00:10:48,120 Speaker 1: gonna be making an impact. So you know, look, I 192 00:10:48,120 --> 00:10:51,200 Speaker 1: mean it's a little bit hard because, uh, blockchain smart 193 00:10:51,200 --> 00:10:54,440 Speaker 1: contracts attaching many industries, and it's a little bit hard 194 00:10:54,480 --> 00:10:57,320 Speaker 1: to say who is a little bit for their head there, 195 00:10:57,400 --> 00:11:00,960 Speaker 1: you know, that is changes somewhat they date. We do 196 00:11:01,120 --> 00:11:04,360 Speaker 1: know that blockchain is smart contracts, you know, have sort 197 00:11:04,360 --> 00:11:08,640 Speaker 1: of a very obvious financial implications, and bitcoin being one 198 00:11:08,679 --> 00:11:13,280 Speaker 1: of the sort of first application and various other financial 199 00:11:14,120 --> 00:11:19,240 Speaker 1: players adopting the technology quickly, more quickly than others, you know, 200 00:11:19,320 --> 00:11:21,400 Speaker 1: suggest that that's sort of an obvious place and we 201 00:11:21,480 --> 00:11:24,319 Speaker 1: see quite a lot of development, um But there are 202 00:11:24,320 --> 00:11:28,600 Speaker 1: other applications, you know, Uh, supply chain, the industry I 203 00:11:28,679 --> 00:11:32,400 Speaker 1: just mentioned has had quite a lot of progress as well. 204 00:11:32,520 --> 00:11:34,800 Speaker 1: IBM is doing quite a lot of work in it, 205 00:11:35,120 --> 00:11:37,040 Speaker 1: Oracle is doing quite a lot of work in it, 206 00:11:37,120 --> 00:11:41,360 Speaker 1: and many many other companies. Um. So sufflically, change space 207 00:11:41,480 --> 00:11:43,760 Speaker 1: is like just one area that's really using it. I 208 00:11:43,760 --> 00:11:47,079 Speaker 1: think also the decentralized finance space would be another area 209 00:11:47,120 --> 00:11:49,800 Speaker 1: that was probably using a lot of smart contracts as well. Right, 210 00:11:50,559 --> 00:11:54,400 Speaker 1: So yeah, decentralized finance. UH is part of the sort 211 00:11:54,400 --> 00:11:57,160 Speaker 1: of finance trend that I just discussed. Yes, that that 212 00:11:57,320 --> 00:12:01,000 Speaker 1: is the number one applications at this time, but there 213 00:12:01,000 --> 00:12:03,600 Speaker 1: are other areas and and logistic is another one. But 214 00:12:03,679 --> 00:12:07,520 Speaker 1: you also see it in in numerous others. Okay, I'm curious. 215 00:12:07,880 --> 00:12:10,719 Speaker 1: You know, in in we kind of saw the protocol 216 00:12:10,760 --> 00:12:13,040 Speaker 1: wars where we had you know, Ethereum came up as 217 00:12:13,040 --> 00:12:14,959 Speaker 1: a smart contract platform, and then we had all these 218 00:12:14,960 --> 00:12:20,000 Speaker 1: other smart contract platforms that came out. Um. What about Bitcoin? 219 00:12:20,240 --> 00:12:22,920 Speaker 1: I've heard, you know, there's talk about you know, side 220 00:12:23,000 --> 00:12:24,760 Speaker 1: chains and things like that where people are starting to 221 00:12:24,760 --> 00:12:27,480 Speaker 1: do smart contracts. Are you seeing any of that? Can 222 00:12:27,480 --> 00:12:29,640 Speaker 1: you comment on any of what may or may not 223 00:12:29,800 --> 00:12:33,080 Speaker 1: happen with smart contracts on the Bitcoin either probably side 224 00:12:33,160 --> 00:12:37,920 Speaker 1: chain or something federated chain. We see many folks dabble, 225 00:12:37,960 --> 00:12:42,920 Speaker 1: and smart contracts one of them. They are numerous others. Um. 226 00:12:43,480 --> 00:12:47,880 Speaker 1: I think we see the world where because smart contracts 227 00:12:47,880 --> 00:12:56,800 Speaker 1: functionality is so powerful and it embodies traditional business logic UM, 228 00:12:56,840 --> 00:13:00,840 Speaker 1: and a lot of people realize that and so UM 229 00:13:00,960 --> 00:13:05,800 Speaker 1: without specifically commenting on what bigpoint our theorem does, UM, 230 00:13:05,840 --> 00:13:09,560 Speaker 1: I think we'll see the world where that functionality will 231 00:13:09,600 --> 00:13:15,359 Speaker 1: be embedded in many platforms because it is so powerful, 232 00:13:15,480 --> 00:13:18,640 Speaker 1: because it is so cool too many businesses, and I 233 00:13:18,679 --> 00:13:21,840 Speaker 1: think there is realization. I think the challenge for the 234 00:13:21,880 --> 00:13:25,800 Speaker 1: technology at this time is that looking forward, that we're 235 00:13:25,800 --> 00:13:31,720 Speaker 1: gonna have numerous platforms embed that functionality. How do we 236 00:13:31,840 --> 00:13:35,000 Speaker 1: make sure that those platforms talk to each other? Um, 237 00:13:35,040 --> 00:13:37,640 Speaker 1: that is an interesting challenge yourself. But yes, I think 238 00:13:37,760 --> 00:13:40,680 Speaker 1: I think it's smart, smart conscious functionality. And if you 239 00:13:40,720 --> 00:13:46,640 Speaker 1: look for example at at um uh patenting a smart 240 00:13:47,160 --> 00:13:50,880 Speaker 1: contract functionality is one of the top five functionalities that 241 00:13:50,920 --> 00:13:54,240 Speaker 1: are being patented in the United States and China, which 242 00:13:54,320 --> 00:13:58,240 Speaker 1: leads patents in blockchain. And so my prediction that smart 243 00:13:58,280 --> 00:14:03,080 Speaker 1: contracts will continue being the for functionality and that we 244 00:14:03,120 --> 00:14:06,120 Speaker 1: will also need to solve a challenge of platforms talking 245 00:14:06,120 --> 00:14:09,200 Speaker 1: to each other. So then, um, in the future, at 246 00:14:09,240 --> 00:14:11,800 Speaker 1: some point in the future. UM, you think this argument 247 00:14:11,920 --> 00:14:15,520 Speaker 1: right now of bitcoin versus all all coins is uh, 248 00:14:15,720 --> 00:14:18,600 Speaker 1: smart contract platforms can run small cartracks, Bitcoin can't. But 249 00:14:18,679 --> 00:14:21,480 Speaker 1: you think there's a future where Bitcoin runs smart contracts 250 00:14:21,520 --> 00:14:23,680 Speaker 1: just like other platforms do. In some way or another. 251 00:14:24,520 --> 00:14:26,880 Speaker 1: I think there is a future for manual platform to 252 00:14:26,960 --> 00:14:30,760 Speaker 1: have a functionality related to smart contracts, and I think 253 00:14:31,040 --> 00:14:35,000 Speaker 1: it's an evolving field. It's definitely an experimental technology at 254 00:14:35,000 --> 00:14:38,960 Speaker 1: this point. A lot of new stuff is, frankly even today, 255 00:14:39,160 --> 00:14:43,360 Speaker 1: is coming out from universities like the University of Waterloo, Stanford, 256 00:14:43,600 --> 00:14:47,760 Speaker 1: m I t H, University of Singapore. So it's a 257 00:14:47,840 --> 00:14:53,720 Speaker 1: highly experimental technology and we'll see more and more we developed. Yes. Okay, Now, um, 258 00:14:53,720 --> 00:14:55,720 Speaker 1: you had said when I want, I think before we 259 00:14:55,760 --> 00:14:58,880 Speaker 1: started the actual show. Um, I had mentioned where I 260 00:14:58,880 --> 00:15:01,320 Speaker 1: said it's a big piece and said smart contracts are 261 00:15:01,320 --> 00:15:04,840 Speaker 1: actually the piece. Um, so what do you mean by that? Like, 262 00:15:05,520 --> 00:15:08,280 Speaker 1: why is it? Why are smart contracts so important to 263 00:15:08,360 --> 00:15:13,560 Speaker 1: this entire ecosystem? Uh? I think it's because it really 264 00:15:14,800 --> 00:15:18,000 Speaker 1: under pains and I think we've never looked the way 265 00:15:18,000 --> 00:15:24,520 Speaker 1: we do business that smart contracts just embodies logically how 266 00:15:24,600 --> 00:15:26,920 Speaker 1: the business has done a lot of business. If you 267 00:15:27,000 --> 00:15:30,440 Speaker 1: ever worked for an enterprise or any company, a lot 268 00:15:30,480 --> 00:15:33,720 Speaker 1: of business could be reduced to a bunch of evvent statement. 269 00:15:34,080 --> 00:15:37,040 Speaker 1: You pay me, If you pay me, I'll give you services. 270 00:15:37,160 --> 00:15:39,920 Speaker 1: If I give you services, we're then I have relationship. Right. 271 00:15:39,920 --> 00:15:43,560 Speaker 1: So there's a lot of event statements embedded just sort 272 00:15:43,560 --> 00:15:46,440 Speaker 1: of by default. And so smart contracts the reason they're 273 00:15:46,440 --> 00:15:49,000 Speaker 1: so powerful is because we have many enterprises, because we 274 00:15:49,040 --> 00:15:53,680 Speaker 1: have many services, we have many instance statements, uh, sort 275 00:15:53,680 --> 00:15:56,920 Speaker 1: of assumed in our daily lives and our businesses, and 276 00:15:57,040 --> 00:16:01,280 Speaker 1: smart contracts can very easily or more easily than other 277 00:16:01,360 --> 00:16:05,080 Speaker 1: things automade that. Yeah, Okay, it's kind of like a 278 00:16:05,080 --> 00:16:07,520 Speaker 1: bunch of systems. So like the best businesses in the 279 00:16:07,560 --> 00:16:10,920 Speaker 1: world really build the best systems. Um. Think of like franchises, 280 00:16:10,960 --> 00:16:13,360 Speaker 1: where like something has always done the same way, if this, 281 00:16:13,520 --> 00:16:16,680 Speaker 1: then that right. So um, So if that's the biggest 282 00:16:16,760 --> 00:16:19,800 Speaker 1: piece of the system, um, which I agree with you, right, 283 00:16:19,880 --> 00:16:21,840 Speaker 1: I mean in order for all this to work, we 284 00:16:21,960 --> 00:16:25,520 Speaker 1: have to have that smart contract, that logic in there. Um. 285 00:16:25,560 --> 00:16:27,400 Speaker 1: But if if that's big of if it's that big 286 00:16:27,440 --> 00:16:29,480 Speaker 1: of a piece, then it's it's important that we get 287 00:16:29,480 --> 00:16:31,640 Speaker 1: it right. And I think that's where quand Stamp comes 288 00:16:31,640 --> 00:16:35,240 Speaker 1: into to like look at these smart contracts and see 289 00:16:35,920 --> 00:16:38,920 Speaker 1: problems that maybe there. I know, throughout history we've seen 290 00:16:38,960 --> 00:16:41,080 Speaker 1: some big problems, right, so I think there was the 291 00:16:41,120 --> 00:16:43,760 Speaker 1: Ethereum one, there was this parody one, right, so we've 292 00:16:43,760 --> 00:16:48,840 Speaker 1: seen big problems with smart contract failures and um, I 293 00:16:48,880 --> 00:16:51,680 Speaker 1: guess you guys are trying to help solve that problem. 294 00:16:51,720 --> 00:16:53,960 Speaker 1: Is that correct? So let's let me talk a little 295 00:16:54,000 --> 00:16:57,360 Speaker 1: bit more about what could possibly go wrong. Yeah, smart 296 00:16:57,400 --> 00:17:00,320 Speaker 1: contract because you know, on the one hand, day in body, 297 00:17:00,360 --> 00:17:03,640 Speaker 1: business logic, and they're super powerful. I think of them 298 00:17:03,680 --> 00:17:07,919 Speaker 1: as a very very sharp knife. Um. On the other hand, 299 00:17:08,359 --> 00:17:12,560 Speaker 1: remember they are pieces of code. And who writes pieces 300 00:17:12,600 --> 00:17:17,480 Speaker 1: of code? Humans? Humans right code? And so what is 301 00:17:17,520 --> 00:17:20,399 Speaker 1: the problems with people doing things? Well, the problem is 302 00:17:20,400 --> 00:17:25,640 Speaker 1: that humans people professional error probe, they make mistake and 303 00:17:25,720 --> 00:17:28,919 Speaker 1: so what we see and the classic example, you know 304 00:17:28,960 --> 00:17:31,840 Speaker 1: you mentioned parity as I'll mentioned something else, The classic 305 00:17:31,880 --> 00:17:35,439 Speaker 1: one is a doubt problem. One little miss step in 306 00:17:35,440 --> 00:17:41,800 Speaker 1: a code, one little mistake can have millions of dollars disappear, 307 00:17:42,400 --> 00:17:44,639 Speaker 1: and people will you know, if you ever talk to 308 00:17:44,680 --> 00:17:47,280 Speaker 1: somebody who has been affected by this problem. For example, 309 00:17:47,280 --> 00:17:49,879 Speaker 1: our founder a Quantum, one of the reasons he founded 310 00:17:49,920 --> 00:17:54,040 Speaker 1: this company is because he has been affected by this problem. 311 00:17:54,160 --> 00:17:57,159 Speaker 1: If you if you ever talk to somebody or who 312 00:17:57,320 --> 00:18:00,080 Speaker 1: was part of thou Um, you know what how and 313 00:18:00,280 --> 00:18:04,160 Speaker 1: is that money was disappearing. Folks have been watching at 314 00:18:04,240 --> 00:18:09,200 Speaker 1: real time and they could do absolutely nothing about it. 315 00:18:09,200 --> 00:18:12,879 Speaker 1: It's sort of like witnessing and violence against yourself. You 316 00:18:13,040 --> 00:18:17,360 Speaker 1: just stand there smile, right, and it doesn't matter how 317 00:18:17,440 --> 00:18:20,639 Speaker 1: much money people lost. People who were part of it 318 00:18:21,000 --> 00:18:26,360 Speaker 1: have a very almost primitive reaction to this violence, right 319 00:18:26,440 --> 00:18:29,560 Speaker 1: to this funds disappearing in front of their eyes, and 320 00:18:29,640 --> 00:18:32,399 Speaker 1: that that was very disturbing, right, and they couldn't do 321 00:18:32,680 --> 00:18:35,720 Speaker 1: much about it. So that is the challenge with smart 322 00:18:35,720 --> 00:18:39,960 Speaker 1: contract is that on the one hand, they're very very powerful. 323 00:18:40,080 --> 00:18:43,200 Speaker 1: On the other hand, they are created by humans. Humans 324 00:18:43,240 --> 00:18:48,080 Speaker 1: make mistakes, and so there your funds can be locked out, 325 00:18:48,200 --> 00:18:51,760 Speaker 1: your funds can disappear, your assets, right and remember which 326 00:18:51,800 --> 00:18:54,560 Speaker 1: you can put on a smart contract doesn't have to 327 00:18:54,600 --> 00:18:58,639 Speaker 1: be financial asset. It could be any asset. It could be, 328 00:18:58,680 --> 00:19:02,400 Speaker 1: for example, a real estate asset. It could be August reputation, 329 00:19:02,920 --> 00:19:06,120 Speaker 1: August privacy because that's an asset as well. So they 330 00:19:06,200 --> 00:19:09,840 Speaker 1: store assets that are quite valuable. And so it's important 331 00:19:09,920 --> 00:19:15,080 Speaker 1: to make sure that there's no code problems because those, 332 00:19:15,240 --> 00:19:19,919 Speaker 1: especially in public blockchains, they are open. The code is 333 00:19:19,960 --> 00:19:23,800 Speaker 1: open to two for everyone to see um and there 334 00:19:23,840 --> 00:19:27,000 Speaker 1: are people who are really good at finding the crooks, 335 00:19:27,040 --> 00:19:31,080 Speaker 1: finding the challenges the code and taking advantage of it 336 00:19:31,280 --> 00:19:34,359 Speaker 1: and so yes, on the one hand, it's a powerful knife, 337 00:19:34,400 --> 00:19:37,400 Speaker 1: but that knife could be used to to cure and 338 00:19:37,520 --> 00:19:40,520 Speaker 1: that knife could be used to kill. Um. And so 339 00:19:40,600 --> 00:19:45,120 Speaker 1: it's very important to use this tool in an intentional 340 00:19:45,160 --> 00:19:48,240 Speaker 1: way and take precautions. It's a you know, it's it's 341 00:19:48,280 --> 00:19:50,320 Speaker 1: no different. It's a it's an age old problem. Right. 342 00:19:50,359 --> 00:19:52,240 Speaker 1: You have bankers, and you have bank robbers, and the 343 00:19:52,320 --> 00:19:54,240 Speaker 1: banks are trying to stay a step ahead of the robbers. 344 00:19:54,320 --> 00:19:57,880 Speaker 1: Or we have virus makers and anti virus makers and there, 345 00:19:57,960 --> 00:20:01,720 Speaker 1: and it's always this race. And UM, remember when I 346 00:20:01,800 --> 00:20:05,000 Speaker 1: said that, you know, the good guys and the bad 347 00:20:05,040 --> 00:20:08,600 Speaker 1: guys have access to the same technology, right Exactly, I 348 00:20:08,600 --> 00:20:11,720 Speaker 1: can understand the challenge you must have or our company, 349 00:20:11,800 --> 00:20:14,160 Speaker 1: like Content might have, um in a sense where all 350 00:20:14,200 --> 00:20:16,960 Speaker 1: this code is written by humans, and everybody writes it 351 00:20:17,000 --> 00:20:19,640 Speaker 1: a little bit differently. Um. And then there's all these 352 00:20:19,640 --> 00:20:22,160 Speaker 1: different platforms and languages to write it on, so there's 353 00:20:22,200 --> 00:20:25,640 Speaker 1: like a limited amount of combinations. UM. So I could 354 00:20:25,720 --> 00:20:28,439 Speaker 1: understand it. It could be very difficult. Uh. Could you 355 00:20:28,480 --> 00:20:31,320 Speaker 1: talk at all about maybe a process of how you 356 00:20:31,359 --> 00:20:35,720 Speaker 1: do that or how that's done? Yeah? So, um. Actually, 357 00:20:35,880 --> 00:20:39,200 Speaker 1: so that while there's a potentially infinite number of combinations. 358 00:20:39,240 --> 00:20:41,760 Speaker 1: We also know that some smart contracts are more tested 359 00:20:41,760 --> 00:20:45,600 Speaker 1: than others, so there are increasingly number of templates and 360 00:20:45,680 --> 00:20:51,119 Speaker 1: best practices that are emerging to help developers to write 361 00:20:51,119 --> 00:20:54,800 Speaker 1: smart contracts that they don't have to recreate the wheel 362 00:20:54,880 --> 00:20:58,400 Speaker 1: every time because some smart contracts are already tested and 363 00:20:58,440 --> 00:21:02,680 Speaker 1: so there are organizations that put out templates. We created 364 00:21:02,680 --> 00:21:06,760 Speaker 1: a Smart Contract Security Alliance where we work with enterprises 365 00:21:06,800 --> 00:21:10,600 Speaker 1: and project to put out best practices. So that is emerging. 366 00:21:10,960 --> 00:21:13,239 Speaker 1: There will be more and more of it because you know, 367 00:21:13,359 --> 00:21:15,959 Speaker 1: just like lawyers don't have to write every contracts from 368 00:21:16,000 --> 00:21:20,600 Speaker 1: scritches because many clauses have been litigated. Uh, similarly, developers 369 00:21:20,640 --> 00:21:22,800 Speaker 1: don't have to write a code from scritch and they 370 00:21:22,800 --> 00:21:26,439 Speaker 1: can take advantage of the code and it makes it 371 00:21:26,520 --> 00:21:30,199 Speaker 1: much easier for auditors to double check. But part of 372 00:21:30,280 --> 00:21:35,520 Speaker 1: developing safe smart contracts or any code, especially if it 373 00:21:36,000 --> 00:21:40,680 Speaker 1: houses assets, is to basically go through the process of 374 00:21:40,680 --> 00:21:43,960 Speaker 1: of audit, and we provide that service. We're also building 375 00:21:44,320 --> 00:21:48,560 Speaker 1: protocols and tools to make sure that the that smart 376 00:21:48,600 --> 00:21:52,720 Speaker 1: contracts can be checked for vulnerabilities at scale, because if 377 00:21:52,800 --> 00:21:56,280 Speaker 1: you imagine the world that will be dominated by smart 378 00:21:56,320 --> 00:21:59,240 Speaker 1: contracts because if then it is so embedded in our 379 00:21:59,600 --> 00:22:03,199 Speaker 1: collect the logic, then it's very important to get to 380 00:22:03,240 --> 00:22:05,520 Speaker 1: the point where you can just sort of take all 381 00:22:05,560 --> 00:22:08,880 Speaker 1: your smart contracts, put them in the black box and 382 00:22:08,960 --> 00:22:12,080 Speaker 1: make sure that you're safe. Right, that's the ideal world. 383 00:22:12,160 --> 00:22:14,520 Speaker 1: So we are building those tools, We are building those 384 00:22:14,560 --> 00:22:18,000 Speaker 1: protocols in the meantime as this technology developed, and as 385 00:22:18,040 --> 00:22:21,919 Speaker 1: we're building, were also providing services. And we're not the 386 00:22:21,960 --> 00:22:23,720 Speaker 1: only ones. There are other people who do this. They 387 00:22:23,720 --> 00:22:27,919 Speaker 1: all have slightly different UM method that I'm doing it. 388 00:22:28,440 --> 00:22:31,359 Speaker 1: I personally like the way we're doing it. We have 389 00:22:31,520 --> 00:22:35,119 Speaker 1: a number of PhDs from the university or Waterlook who 390 00:22:35,200 --> 00:22:41,679 Speaker 1: dedicated their life to studying, understanding developing smart contracts. So 391 00:22:41,800 --> 00:22:45,280 Speaker 1: the way we do audits is that we basically take 392 00:22:45,680 --> 00:22:51,400 Speaker 1: smart contracts and give it to three people to audit independently, 393 00:22:51,880 --> 00:22:55,720 Speaker 1: and then they compare results and UH compete as to 394 00:22:55,760 --> 00:23:01,360 Speaker 1: who's gonna find most vulnerabilities. We find that through that process, UM, 395 00:23:01,720 --> 00:23:04,680 Speaker 1: we we get it, get it right, and we get 396 00:23:04,720 --> 00:23:08,359 Speaker 1: really good results UM. And then we also in the 397 00:23:08,359 --> 00:23:13,320 Speaker 1: process educate our clients, helped them at that better practices UM, 398 00:23:13,520 --> 00:23:18,439 Speaker 1: and just generally be safer. Yeah, I think, Um, it 399 00:23:18,560 --> 00:23:20,640 Speaker 1: opens up a lot of conversation that we maybe haven't 400 00:23:20,640 --> 00:23:23,000 Speaker 1: had in the past. Um but but but maybe we 401 00:23:23,000 --> 00:23:26,080 Speaker 1: should have. So obviously we talked like I just mentioned 402 00:23:26,160 --> 00:23:30,600 Speaker 1: viruses and things like that we've seen recently, Um like uh, 403 00:23:30,840 --> 00:23:34,560 Speaker 1: all these uh, these hacks where they've locked the computers right, 404 00:23:34,600 --> 00:23:36,439 Speaker 1: locked the data. I think the City of Baltimore just 405 00:23:36,520 --> 00:23:38,320 Speaker 1: like had their whole system locked and they had to 406 00:23:38,359 --> 00:23:42,120 Speaker 1: pay the ransom. And those are like vulnerabilities and Microsoft software. 407 00:23:42,119 --> 00:23:45,359 Speaker 1: I believe that the NSA knew about and exploited whatever. 408 00:23:45,480 --> 00:23:47,720 Speaker 1: Won't get into that, but my point is it was 409 00:23:47,880 --> 00:23:50,280 Speaker 1: it was it was a bug, if you will, or 410 00:23:50,359 --> 00:23:52,840 Speaker 1: some sort of a something in the Microsoft software that 411 00:23:52,880 --> 00:23:55,240 Speaker 1: allowed these hackers to get in and locked that system down. 412 00:23:55,280 --> 00:23:57,879 Speaker 1: And that's kind of similar, right, So, just like Microsoft 413 00:23:57,880 --> 00:24:00,720 Speaker 1: should be responsible to make sure the code can't be hacked, 414 00:24:00,960 --> 00:24:03,720 Speaker 1: the smart contract people need to also be responsible to 415 00:24:03,760 --> 00:24:05,960 Speaker 1: make sure their code isn't hacked. Kind of the same thing, right. 416 00:24:06,800 --> 00:24:11,520 Speaker 1: Human error. Humans are good at developing avel solutions, and 417 00:24:11,560 --> 00:24:15,600 Speaker 1: they are prone to error, and sometimes small errors are costly, 418 00:24:15,760 --> 00:24:18,280 Speaker 1: and there's always people that are motivated defining those errors, 419 00:24:18,320 --> 00:24:21,200 Speaker 1: and there are people who motivate their crooks who want 420 00:24:21,240 --> 00:24:23,280 Speaker 1: to exploit them. It is not to say that we 421 00:24:23,320 --> 00:24:26,080 Speaker 1: should not be developing technology. It is not just say 422 00:24:26,119 --> 00:24:29,200 Speaker 1: that we should hide our money or assets under the mattress. 423 00:24:29,200 --> 00:24:32,800 Speaker 1: It is to say that we should we should approach 424 00:24:32,920 --> 00:24:37,240 Speaker 1: technology was our eyes open and we know that humans 425 00:24:37,320 --> 00:24:39,920 Speaker 1: make mistakes, and that means we should double check what 426 00:24:40,000 --> 00:24:44,000 Speaker 1: humans do. Yeah, yeah, I think, Um, you know so 427 00:24:44,000 --> 00:24:47,240 Speaker 1: so knowing that those types of problems already exist today, Um, 428 00:24:47,600 --> 00:24:49,400 Speaker 1: we're we're kind of aware of that. But now we're 429 00:24:49,400 --> 00:24:52,800 Speaker 1: talking about like money or wealth or value, whatever you 430 00:24:52,800 --> 00:24:55,119 Speaker 1: want to call it, whether it be intellectual property or whatever. 431 00:24:55,720 --> 00:24:57,639 Speaker 1: But when you're talking about money, I mean now we 432 00:24:57,720 --> 00:25:01,520 Speaker 1: have huge, huge sum at risk and so it just 433 00:25:01,600 --> 00:25:06,080 Speaker 1: requires extra extra you know. So I like to talk 434 00:25:06,080 --> 00:25:10,480 Speaker 1: about assets and remember those assets that held by smart contracts, 435 00:25:10,480 --> 00:25:14,399 Speaker 1: maybe money. They could be tangible assets like real estate. 436 00:25:14,600 --> 00:25:17,240 Speaker 1: They could be intangible one. They could be all us reputation. 437 00:25:17,560 --> 00:25:21,440 Speaker 1: That could be all us privacy, all us intellectual property. 438 00:25:21,960 --> 00:25:24,680 Speaker 1: So those types of things. So I tend to think 439 00:25:24,680 --> 00:25:27,160 Speaker 1: of them as more as assets, and people care about 440 00:25:27,200 --> 00:25:30,400 Speaker 1: their assets, whether they're tangible and tangible monetary or has 441 00:25:30,400 --> 00:25:32,680 Speaker 1: the rights. Sure, Yeah, that's a that's a great point. 442 00:25:32,760 --> 00:25:35,160 Speaker 1: That's that's a great point. So, um you talked about 443 00:25:35,320 --> 00:25:38,240 Speaker 1: UM you guys started like some foundation or organization or 444 00:25:38,280 --> 00:25:40,560 Speaker 1: something like that. I'm curious is there or is there 445 00:25:40,600 --> 00:25:43,320 Speaker 1: now or will there be some sort of uh maybe 446 00:25:43,359 --> 00:25:46,520 Speaker 1: like a rating agency where like UM, companies can be 447 00:25:46,560 --> 00:25:48,640 Speaker 1: more trusted than others. I mean, I know we're really 448 00:25:48,680 --> 00:25:50,840 Speaker 1: in the infancy right now and maybe it's not established, 449 00:25:50,880 --> 00:25:53,440 Speaker 1: but do you think there's a way where the consumer knows, Okay, 450 00:25:53,480 --> 00:25:57,440 Speaker 1: these guys are more trusted reputation wise than others. We 451 00:25:57,600 --> 00:26:00,720 Speaker 1: I can tell you that what today when we are projects, 452 00:26:01,200 --> 00:26:05,240 Speaker 1: we provide reports to those companies and projects that we've 453 00:26:05,240 --> 00:26:08,040 Speaker 1: done it. Many of them really like it. Our reports 454 00:26:08,080 --> 00:26:12,520 Speaker 1: are highly comprehensive. They rate all kinds of challenges that 455 00:26:12,520 --> 00:26:15,800 Speaker 1: could possibly go wrong, give feedback, and they rate whether 456 00:26:15,920 --> 00:26:18,359 Speaker 1: or not those challenges are life threatening or kind of 457 00:26:18,440 --> 00:26:21,040 Speaker 1: nice you have, So we probably quite a lot of feedback. 458 00:26:21,560 --> 00:26:25,400 Speaker 1: We know that companies like it will also know that. Frankally, 459 00:26:25,640 --> 00:26:30,280 Speaker 1: regular regulators in many countries like ASTI. Well, UM, we've 460 00:26:30,320 --> 00:26:33,600 Speaker 1: received main requests for which you just basically described as 461 00:26:33,600 --> 00:26:38,479 Speaker 1: sort of very signed for blockchain. We are deeply aware 462 00:26:38,600 --> 00:26:42,119 Speaker 1: with UM understand that this is an emerging technology. It 463 00:26:42,280 --> 00:26:45,560 Speaker 1: is changing day by day. But we know that we 464 00:26:46,040 --> 00:26:50,320 Speaker 1: our reports are reports after we audit. Smart contracts are 465 00:26:50,560 --> 00:26:55,800 Speaker 1: basically hashed on blockchain if client wants and and so 466 00:26:55,880 --> 00:27:00,399 Speaker 1: there is an opportunity to provide that UM kind sumer 467 00:27:00,480 --> 00:27:06,719 Speaker 1: reassurance that UM that smart contract that they're using. UM. Okay, 468 00:27:07,960 --> 00:27:10,440 Speaker 1: So for the for the average like I said, consumer 469 00:27:10,480 --> 00:27:15,080 Speaker 1: consumer assurance, like, UM, you know a lot of these 470 00:27:15,080 --> 00:27:18,879 Speaker 1: smart contracts are inconsequential UM, And I don't really care. 471 00:27:19,320 --> 00:27:22,120 Speaker 1: You know, if if a supply chain management smart contract 472 00:27:22,200 --> 00:27:24,399 Speaker 1: doesn't work and maybe an invoice gets mixed up. I 473 00:27:24,440 --> 00:27:26,840 Speaker 1: mean that's not the end of the world. UM. If 474 00:27:26,880 --> 00:27:29,160 Speaker 1: I have a million dollars sitting in my DeFi account 475 00:27:29,160 --> 00:27:31,320 Speaker 1: and that that gets exploited, and that's a whole different 476 00:27:31,320 --> 00:27:34,879 Speaker 1: thing to me. UM. So seen as uh, seeing as 477 00:27:34,920 --> 00:27:38,760 Speaker 1: we're getting more and more assets, wealth value, whatever you 478 00:27:38,800 --> 00:27:41,880 Speaker 1: want to call them, put onto these smart contract platforms, UM, 479 00:27:41,920 --> 00:27:43,720 Speaker 1: what do you think some of the risks are that 480 00:27:43,720 --> 00:27:46,199 Speaker 1: that people should be aware of, that we should be 481 00:27:46,200 --> 00:27:49,480 Speaker 1: watching out for. Well, there's gonna it's a develop it's 482 00:27:49,480 --> 00:27:54,359 Speaker 1: a developing technology. There's numerous risk it's evolving. UM. You know, 483 00:27:54,880 --> 00:27:58,600 Speaker 1: maybe being a smart consumer is really a prudent thing. UM. 484 00:27:58,640 --> 00:28:00,560 Speaker 1: I'm not so considered to tell you do not use 485 00:28:00,600 --> 00:28:02,960 Speaker 1: this technology because I love this technology. I think it's 486 00:28:02,960 --> 00:28:07,560 Speaker 1: a powerful technology. But understand it is a developing technology. 487 00:28:07,600 --> 00:28:10,480 Speaker 1: A lot of it is still at the universities. I 488 00:28:10,560 --> 00:28:15,240 Speaker 1: like being, um, the first adapter, and I like I 489 00:28:15,320 --> 00:28:17,720 Speaker 1: will for my education and to be on the cutting 490 00:28:17,880 --> 00:28:21,640 Speaker 1: edge of technology. I will even risk some money. UM, 491 00:28:21,680 --> 00:28:25,879 Speaker 1: I will not risk all of my money. UM. UM. 492 00:28:25,960 --> 00:28:29,879 Speaker 1: You know you can be part of the various solutions, 493 00:28:29,920 --> 00:28:33,520 Speaker 1: you can try different things. UH, you still should retain 494 00:28:33,560 --> 00:28:36,840 Speaker 1: your common sense. UM. You have to understand that smart 495 00:28:36,920 --> 00:28:40,240 Speaker 1: contracts are developing. It's gonna take time for them to 496 00:28:40,240 --> 00:28:43,880 Speaker 1: become a mature technology. UM. There are numerous platforms that 497 00:28:43,920 --> 00:28:48,080 Speaker 1: are coming up. So UM, if you like being open minded, 498 00:28:48,120 --> 00:28:51,280 Speaker 1: if you like trying different things, I highly encourage you 499 00:28:51,320 --> 00:28:53,840 Speaker 1: to do it. Just keep your common sense. Do not 500 00:28:54,000 --> 00:28:57,280 Speaker 1: put all your assets in one place. That is that 501 00:28:57,280 --> 00:29:01,480 Speaker 1: that is made of experimental technology. That is smart. Um. 502 00:29:01,720 --> 00:29:04,240 Speaker 1: You know we all at some point have to pay 503 00:29:04,320 --> 00:29:08,600 Speaker 1: mortgage or random and and and buy food. It's even 504 00:29:08,680 --> 00:29:11,560 Speaker 1: smart when you talk about stuff that is tried and true. 505 00:29:11,920 --> 00:29:14,480 Speaker 1: For example, this is the Microsoft bug. I mean Microsoft's 506 00:29:14,480 --> 00:29:16,000 Speaker 1: been out a long time and like yet you know, 507 00:29:16,000 --> 00:29:19,000 Speaker 1: people have lost a lot there. Um, you know, whether 508 00:29:19,000 --> 00:29:21,239 Speaker 1: that be banks or investments or stocks or whatever. So 509 00:29:21,320 --> 00:29:23,480 Speaker 1: you never really want to put all your assets into 510 00:29:23,560 --> 00:29:26,400 Speaker 1: one basket. So uh, and I agree with you, right, 511 00:29:26,560 --> 00:29:28,720 Speaker 1: and an emerging technology is even more important, so you 512 00:29:28,720 --> 00:29:32,320 Speaker 1: should definitely practice that more so good point. I know 513 00:29:32,440 --> 00:29:36,840 Speaker 1: for me personally, UM, I have multiple hardware wallets and 514 00:29:36,880 --> 00:29:38,520 Speaker 1: I don't even put all my all my stuff on 515 00:29:38,520 --> 00:29:40,360 Speaker 1: one hardware wall. I have it on multiple hardwall It's 516 00:29:40,400 --> 00:29:42,360 Speaker 1: just in case something happens to one or whatever. Right, 517 00:29:42,400 --> 00:29:45,720 Speaker 1: So even diversified to that level, and I think I 518 00:29:45,800 --> 00:29:49,840 Speaker 1: think that makes great sense, Um, great strategy. And I 519 00:29:49,880 --> 00:29:52,520 Speaker 1: can tell you that most people in the industry, myself included, 520 00:29:52,560 --> 00:29:55,560 Speaker 1: do the same. So you you just you just have 521 00:29:55,600 --> 00:29:57,560 Speaker 1: to be smart. Yeah, you just don't want a single 522 00:29:57,560 --> 00:29:59,320 Speaker 1: point of failure and you don't want to lose everything 523 00:29:59,360 --> 00:30:04,520 Speaker 1: to one one thing or or or be severely impacted. Now, UM, 524 00:30:04,760 --> 00:30:08,120 Speaker 1: we've talked about you had you had recently gone and 525 00:30:08,160 --> 00:30:11,240 Speaker 1: spoke with the Digital Chamber of Commerce. Um, and I 526 00:30:11,280 --> 00:30:13,640 Speaker 1: think you that was invest in Washington, d C. Is 527 00:30:13,680 --> 00:30:16,200 Speaker 1: that correct? And you were kind of, uh, you're kind 528 00:30:16,240 --> 00:30:20,560 Speaker 1: of educating if you will, some of the congressmen, etcetera 529 00:30:20,560 --> 00:30:23,640 Speaker 1: while you were there. So yes, So Digital a Chamber 530 00:30:23,640 --> 00:30:27,280 Speaker 1: of Commerce is a great organization that composed of leaders 531 00:30:27,920 --> 00:30:32,840 Speaker 1: in blockchain, smart contracts, and crypto. They include members that 532 00:30:32,920 --> 00:30:37,200 Speaker 1: are highly reputable and well known of companies and law 533 00:30:37,280 --> 00:30:41,520 Speaker 1: firms and accountants and consultants. They also include many well 534 00:30:41,600 --> 00:30:45,000 Speaker 1: known projects. So it's a great group of people. Annually 535 00:30:45,560 --> 00:30:50,400 Speaker 1: organized UM a education day and manuela sort of fly 536 00:30:50,640 --> 00:30:54,800 Speaker 1: to Washington, d C. And meet with members of Congress, 537 00:30:54,840 --> 00:30:58,120 Speaker 1: both in the House and Senate to to help them 538 00:30:58,200 --> 00:31:02,480 Speaker 1: understand this very complicated to anology. UM. You know, block 539 00:31:02,600 --> 00:31:07,080 Speaker 1: chain smart contracts are is a very very complicated technology. 540 00:31:07,120 --> 00:31:09,560 Speaker 1: There is a reason why a big chunk of quand 541 00:31:09,600 --> 00:31:14,080 Speaker 1: stamp are folks who have PhDs. UM. It gets really 542 00:31:14,080 --> 00:31:17,440 Speaker 1: complicated really quickly, and so we try to make sure 543 00:31:17,520 --> 00:31:21,400 Speaker 1: that UM members of Congress before they make any decisions, 544 00:31:21,520 --> 00:31:25,320 Speaker 1: before they ask any questions, they're highly educated and aware 545 00:31:25,760 --> 00:31:28,440 Speaker 1: of what this technology is with the benefits, what the 546 00:31:28,480 --> 00:31:31,880 Speaker 1: challenges are, where it is in its development. UM. We 547 00:31:32,040 --> 00:31:36,480 Speaker 1: really believe that education is powerful. I personally educated many, 548 00:31:36,800 --> 00:31:39,479 Speaker 1: UM many members of Congress of the United States. I'm 549 00:31:39,520 --> 00:31:44,000 Speaker 1: also fairly active in California. I've gone to SACRAMENTUM many times. 550 00:31:44,440 --> 00:31:50,400 Speaker 1: I I firmly believe that educated people, educated legislators on average, 551 00:31:50,440 --> 00:31:54,360 Speaker 1: make much better decisions, and so I always prioritize educating 552 00:31:54,360 --> 00:31:57,600 Speaker 1: people about this amazing technology that has a huge potential. 553 00:31:57,960 --> 00:32:00,000 Speaker 1: I was, you know, there is a couple of day 554 00:32:00,040 --> 00:32:01,400 Speaker 1: is a testimony I think a week ago, a week 555 00:32:01,480 --> 00:32:03,760 Speaker 1: or two ago on on the whole Facebook Libra, and 556 00:32:04,120 --> 00:32:07,000 Speaker 1: I was, I was actually pleasantly surprised. I think it 557 00:32:07,000 --> 00:32:09,040 Speaker 1: was the second day of testimony to hear from a 558 00:32:09,120 --> 00:32:12,320 Speaker 1: lot of these uh congressmen and representatives that were there 559 00:32:12,360 --> 00:32:16,520 Speaker 1: that actually sounded pretty knowledgeable. I was actually pleasantly surprised 560 00:32:16,520 --> 00:32:20,240 Speaker 1: that do you find more than not that people are 561 00:32:20,240 --> 00:32:22,080 Speaker 1: starting to be more aware and are kind of being 562 00:32:22,160 --> 00:32:23,880 Speaker 1: educated or are they do? We still have a long 563 00:32:23,880 --> 00:32:27,320 Speaker 1: way to go. I think what Libra did, independent of 564 00:32:27,400 --> 00:32:30,800 Speaker 1: what position you take on just just bitcoin and just 565 00:32:30,880 --> 00:32:35,480 Speaker 1: kind of cryptocurrencies overall, but Libre specifically, because Congress is 566 00:32:35,520 --> 00:32:39,640 Speaker 1: focused on it, has raised blockchain issues. And yes, I 567 00:32:39,680 --> 00:32:42,360 Speaker 1: find that our members of Congress want to learn more 568 00:32:42,640 --> 00:32:44,520 Speaker 1: in the same way they want to learn more about 569 00:32:44,520 --> 00:32:47,920 Speaker 1: other issues. I also know that many of their stoffers 570 00:32:48,040 --> 00:32:51,920 Speaker 1: are very young and grew up with technology and so 571 00:32:52,520 --> 00:32:55,440 Speaker 1: uh and and many of them are very curious about 572 00:32:55,440 --> 00:32:57,440 Speaker 1: this technology, and many of them want to learn more 573 00:32:57,480 --> 00:32:59,960 Speaker 1: about it, and many of them want to help their 574 00:33:00,600 --> 00:33:04,640 Speaker 1: their representatives and centers, their bosses to to be knowledgeable 575 00:33:04,640 --> 00:33:06,640 Speaker 1: about it. So I can tell you there is a 576 00:33:06,680 --> 00:33:10,920 Speaker 1: lot of effort to educate everyone from many ways, digital 577 00:33:11,000 --> 00:33:14,320 Speaker 1: Chamber of Commerce doing its busy and numerous other organizations 578 00:33:14,320 --> 00:33:16,880 Speaker 1: that do that piece. And I'm I'm really thrilled to 579 00:33:16,920 --> 00:33:22,440 Speaker 1: see education being prioritized by our agencies, by our legislators, 580 00:33:22,440 --> 00:33:26,360 Speaker 1: by by our government. Yeah. I like that point you 581 00:33:26,400 --> 00:33:28,560 Speaker 1: made about the staffers being younger and maybe trying to 582 00:33:28,560 --> 00:33:30,640 Speaker 1: help them out. I never really thought about that, but 583 00:33:30,680 --> 00:33:33,400 Speaker 1: that's an important point. You know. Sometimes I I look 584 00:33:33,440 --> 00:33:36,960 Speaker 1: at the the meetings, the committee meanings are having or whatever, 585 00:33:37,000 --> 00:33:40,320 Speaker 1: and you see the age of the average policymaker there, 586 00:33:40,720 --> 00:33:45,200 Speaker 1: and you know, it's just older people are raised in 587 00:33:45,240 --> 00:33:47,960 Speaker 1: a different generation than the younger people. And I have 588 00:33:48,120 --> 00:33:50,720 Speaker 1: kids and they're they're raised in the digital age and 589 00:33:50,720 --> 00:33:52,680 Speaker 1: everything is digital to them, right, And and then you 590 00:33:52,720 --> 00:33:55,960 Speaker 1: have you know, my parents, and they're old and they 591 00:33:56,040 --> 00:33:59,160 Speaker 1: weren't and so I'm afraid you have these old policymakers 592 00:33:59,200 --> 00:34:00,920 Speaker 1: put in policies in place that will be there for 593 00:34:00,960 --> 00:34:02,920 Speaker 1: a long time. They are going to affect this younger generation. 594 00:34:02,960 --> 00:34:06,360 Speaker 1: There's like this divide. So um, I think, right, there's 595 00:34:06,360 --> 00:34:10,319 Speaker 1: generally a correlation between age and technologies. For every correlation 596 00:34:10,360 --> 00:34:13,480 Speaker 1: I find there's numerous exceptions. Uh, there are quite a 597 00:34:13,560 --> 00:34:16,680 Speaker 1: number of people who my parents age who know more 598 00:34:16,680 --> 00:34:19,160 Speaker 1: about technologies than I do. So I think one has 599 00:34:19,200 --> 00:34:24,600 Speaker 1: to be very careful about making age based sort of generalization. 600 00:34:24,920 --> 00:34:26,959 Speaker 1: But by and large, you know, if you talk about 601 00:34:27,000 --> 00:34:30,640 Speaker 1: average people, there is a correlation. And it is great 602 00:34:30,719 --> 00:34:33,640 Speaker 1: that you know. And and we know that members of Congress, 603 00:34:33,760 --> 00:34:37,439 Speaker 1: especially members of the Senate and to skew older. Uh 604 00:34:37,480 --> 00:34:40,920 Speaker 1: so there will be a correlation. I am really pleased 605 00:34:40,960 --> 00:34:44,319 Speaker 1: to see that this this correlation can be offset by 606 00:34:44,600 --> 00:34:48,600 Speaker 1: very young stuffers who are very eager, who went to school, 607 00:34:48,680 --> 00:34:51,640 Speaker 1: who grew up with different technology and see the world 608 00:34:51,719 --> 00:34:54,600 Speaker 1: in a very different ways. So so yeah, so it 609 00:34:54,680 --> 00:34:56,680 Speaker 1: is it is balancing each other out. But yes, there 610 00:34:56,719 --> 00:34:58,719 Speaker 1: is there is a correlation, and yes there is a 611 00:34:59,320 --> 00:35:04,280 Speaker 1: skewing too, more than older population and our legislation. You 612 00:35:04,280 --> 00:35:07,040 Speaker 1: you had mentioned that there's a lot of focus on 613 00:35:07,080 --> 00:35:09,200 Speaker 1: the whole Facebook Libra thing, and I don't know how 614 00:35:09,280 --> 00:35:12,040 Speaker 1: much you want to dive into that, but I'm just curious. UM. 615 00:35:12,080 --> 00:35:15,120 Speaker 1: The focus that it's doing, UM, is that bringing more 616 00:35:15,200 --> 00:35:19,239 Speaker 1: awareness to the overall space. So they're focused on Facebook Libra, 617 00:35:19,320 --> 00:35:22,320 Speaker 1: but now it's bringing more awareness to the blockchain space overall. 618 00:35:22,360 --> 00:35:24,360 Speaker 1: And is that a good thing to bringing good attention 619 00:35:24,440 --> 00:35:27,319 Speaker 1: or bad attention or is any attention good? You know? 620 00:35:27,560 --> 00:35:34,040 Speaker 1: I think UM, Facebook is a high profile player generally 621 00:35:34,080 --> 00:35:39,440 Speaker 1: speaking in many industries, and it's doubling in blockchain brings 622 00:35:39,719 --> 00:35:43,040 Speaker 1: and eagerness to be educated. And I'm excited about that 623 00:35:43,080 --> 00:35:47,359 Speaker 1: eagerness to be educated when we're having conversations that we're 624 00:35:47,360 --> 00:35:50,719 Speaker 1: not had before that we're put off to to have 625 00:35:50,760 --> 00:35:54,400 Speaker 1: some other day. And now you know, you know, because 626 00:35:54,680 --> 00:35:58,000 Speaker 1: Libra has been testifying in Congress, those members have to 627 00:35:58,040 --> 00:36:01,759 Speaker 1: be educated, UM, and they have been prioritizing education. I 628 00:36:01,800 --> 00:36:05,399 Speaker 1: think prioritizing education is overall highly positive thing and I'm 629 00:36:05,400 --> 00:36:09,520 Speaker 1: excited about it. So it's a net game. It's it's 630 00:36:09,520 --> 00:36:13,759 Speaker 1: a it's a conversation that had to be had. Yeah. Yeah, 631 00:36:13,840 --> 00:36:15,399 Speaker 1: like I said, I was, I was. I was really 632 00:36:15,400 --> 00:36:17,759 Speaker 1: surprised some of the conversations that were coming out, and 633 00:36:17,800 --> 00:36:20,480 Speaker 1: I was pleasantly surprised seeing the level of education that 634 00:36:20,480 --> 00:36:23,200 Speaker 1: some of these people had. UM. So overall, I think 635 00:36:23,239 --> 00:36:26,520 Speaker 1: it's good. UM. We definitely see a big division though. 636 00:36:26,560 --> 00:36:28,399 Speaker 1: I mean there's some people that don't you mentioned going 637 00:36:28,480 --> 00:36:31,960 Speaker 1: before UM and it's going to Sacramento in California, and 638 00:36:32,000 --> 00:36:35,520 Speaker 1: I know we have a very outspoken representative in California 639 00:36:35,600 --> 00:36:37,400 Speaker 1: that thinks it should all be outlawed and no one 640 00:36:37,440 --> 00:36:39,960 Speaker 1: should be allowed to own it. So that's obviously another 641 00:36:39,960 --> 00:36:41,920 Speaker 1: side of the extreme. So it's interesting to see how 642 00:36:41,920 --> 00:36:44,120 Speaker 1: that's going to play out. You know. I find that 643 00:36:44,160 --> 00:36:49,120 Speaker 1: there's always gonna be an outspoken outlier in every jurisdiction 644 00:36:49,760 --> 00:36:54,120 Speaker 1: UM and and they exist in every state. They exist 645 00:36:54,160 --> 00:36:57,960 Speaker 1: in on the federal level as well. UM. Focusing on 646 00:36:58,080 --> 00:37:01,200 Speaker 1: outliers in anything you do UM may or may not 647 00:37:01,320 --> 00:37:03,800 Speaker 1: be a put in thing. I think buying large people 648 00:37:03,920 --> 00:37:07,200 Speaker 1: I meet and I now I'm now educated members of 649 00:37:07,239 --> 00:37:11,719 Speaker 1: many federal and California agencies, and I've talked to many 650 00:37:12,360 --> 00:37:17,960 Speaker 1: legislators and regulators. I would say the predominant, the predominant 651 00:37:18,040 --> 00:37:21,200 Speaker 1: mood is open minded, and to me, that's a positive thing. 652 00:37:21,200 --> 00:37:26,600 Speaker 1: And yes, there are outliers, there outliers on the either side. Okay, good, Well, 653 00:37:26,600 --> 00:37:28,279 Speaker 1: we're running out of time, so we got to try 654 00:37:28,320 --> 00:37:30,320 Speaker 1: and wrap this up. I just want maybe ask you 655 00:37:30,360 --> 00:37:33,719 Speaker 1: another question because you have a very unique perspective. I think, 656 00:37:33,760 --> 00:37:37,440 Speaker 1: being with your background digital security, privacy, being in the 657 00:37:37,480 --> 00:37:39,600 Speaker 1: forefront of this kind of smart contracts and talking to 658 00:37:39,680 --> 00:37:41,400 Speaker 1: Congress a little bit, so you kind of have this 659 00:37:41,480 --> 00:37:46,200 Speaker 1: like unique perspective. Um, where do you think we are u, 660 00:37:46,680 --> 00:37:48,719 Speaker 1: you know, in the adoption of this and and maybe 661 00:37:48,800 --> 00:37:51,040 Speaker 1: where are we in the next couple of years. Are 662 00:37:51,080 --> 00:37:52,920 Speaker 1: we still really early and people should just be patient 663 00:37:52,920 --> 00:37:55,960 Speaker 1: and wait, or is there something that we see gradually 664 00:37:56,000 --> 00:37:58,080 Speaker 1: picking up and and and kind of where do you 665 00:37:58,080 --> 00:38:00,680 Speaker 1: see that over the next year or two. I think 666 00:38:00,719 --> 00:38:04,000 Speaker 1: we're definitely on the earlier side. We're definitely not in 667 00:38:04,040 --> 00:38:07,400 Speaker 1: the very very beginning. We are on the earlier side. 668 00:38:07,600 --> 00:38:10,080 Speaker 1: We're also on the side where there is a number 669 00:38:10,320 --> 00:38:14,040 Speaker 1: of kind of proof of concepts and small deployments that 670 00:38:14,040 --> 00:38:17,759 Speaker 1: are happening at various enterprises and projects. So it is 671 00:38:17,800 --> 00:38:21,520 Speaker 1: an opportunity for this technology to really show what what 672 00:38:21,560 --> 00:38:24,360 Speaker 1: it can do, and a lot of that is focused 673 00:38:24,400 --> 00:38:28,319 Speaker 1: on gaining efficiencies, which frankly, you know, drives a lot 674 00:38:28,360 --> 00:38:30,960 Speaker 1: of adoption among enterprises. If you can show that you 675 00:38:31,000 --> 00:38:34,800 Speaker 1: can make it bigger, faster, cheaper, that is usually a highly, 676 00:38:34,880 --> 00:38:38,640 Speaker 1: highly compelling reason to adopt this technology. Having said that 677 00:38:39,040 --> 00:38:43,279 Speaker 1: it is very early, we do think that security challenges 678 00:38:43,320 --> 00:38:46,719 Speaker 1: are not that they have to be sold at least 679 00:38:46,760 --> 00:38:50,360 Speaker 1: to some extent for for the mass adoption. Um, you know, 680 00:38:50,440 --> 00:38:56,560 Speaker 1: regulators are having conversations about smart country, box chain, crypto. Uh, 681 00:38:56,600 --> 00:38:59,799 Speaker 1: there needs to be some clarity for mass adoption as well. 682 00:39:00,200 --> 00:39:03,280 Speaker 1: So we are fairly early, but the conversations are happening, 683 00:39:03,360 --> 00:39:07,400 Speaker 1: the technology is developing, people are sort of struggling with 684 00:39:07,520 --> 00:39:11,200 Speaker 1: various problems, as they should be. We see the shift 685 00:39:11,320 --> 00:39:13,239 Speaker 1: from you know, again, if you look at sort of 686 00:39:13,600 --> 00:39:17,240 Speaker 1: patent trends, most of the patent trends in the past 687 00:39:17,280 --> 00:39:20,520 Speaker 1: have been in from the universities. That is changing. A 688 00:39:20,560 --> 00:39:24,719 Speaker 1: lot of patenting is actually happening in enterprises. So what 689 00:39:24,920 --> 00:39:27,480 Speaker 1: that said yet, that this industry is here to stand 690 00:39:27,640 --> 00:39:32,400 Speaker 1: stay and that enterprises and projects are heavily investing in 691 00:39:32,440 --> 00:39:36,239 Speaker 1: this industry, and that it will be a technology that 692 00:39:36,400 --> 00:39:39,600 Speaker 1: will change the way we do business and live our lives. 693 00:39:39,800 --> 00:39:42,279 Speaker 1: It is a bag end technology, so if it is 694 00:39:42,320 --> 00:39:45,439 Speaker 1: done right, we will not see it. Our lives will 695 00:39:45,480 --> 00:39:48,480 Speaker 1: just get better and and that will be our new normal. 696 00:39:48,640 --> 00:39:50,760 Speaker 1: In the same way as we no longer write letters 697 00:39:50,800 --> 00:39:53,360 Speaker 1: to each other and write emails, and we just have 698 00:39:53,520 --> 00:39:57,759 Speaker 1: many more communications and our lives got to guess arguably better. Um. 699 00:39:58,000 --> 00:40:00,600 Speaker 1: And that's the seamless process. That that is what I 700 00:40:00,600 --> 00:40:03,200 Speaker 1: expect what happened with blockchain and smart contract Sure, at 701 00:40:03,239 --> 00:40:04,200 Speaker 1: the end of the day, it just has to be 702 00:40:04,239 --> 00:40:08,120 Speaker 1: a better, a better, a better technology. So I agree 703 00:40:08,160 --> 00:40:12,480 Speaker 1: with that. Well, good stuff. I appreciate the conversation. UM. Hopefully, 704 00:40:12,480 --> 00:40:16,520 Speaker 1: hopefully that is useful for everyone listening. I know, uh, 705 00:40:16,640 --> 00:40:19,000 Speaker 1: paying attention to smart contracts and being smart with them 706 00:40:19,080 --> 00:40:21,200 Speaker 1: is a big piece that I'm practicing, so I hope 707 00:40:21,200 --> 00:40:24,279 Speaker 1: everyone else is too. UM. But Olga, thanks for so 708 00:40:24,400 --> 00:40:28,160 Speaker 1: much for coming on. I appreciate the conversation. And are 709 00:40:28,200 --> 00:40:30,839 Speaker 1: you active on social media or anywhere that people can 710 00:40:30,920 --> 00:40:33,480 Speaker 1: keep up with you. I am very active on LinkedIn, 711 00:40:33,680 --> 00:40:37,080 Speaker 1: I'm somewhat active on Twitter, but LinkedIn is where I 712 00:40:37,120 --> 00:40:40,640 Speaker 1: tend to hang. So I open two connections and help 713 00:40:40,680 --> 00:40:43,680 Speaker 1: everyone who needs to be helped, either with resources or 714 00:40:43,719 --> 00:40:46,440 Speaker 1: in any other way, or direct them to resources that 715 00:40:46,560 --> 00:40:49,120 Speaker 1: quant stem It is absolutely delighted to be here. Thank 716 00:40:49,120 --> 00:40:52,120 Speaker 1: you for finding giving me this opportunity to share my passion. 717 00:40:52,600 --> 00:40:55,919 Speaker 1: I am thrilled and I very much look forward how 718 00:40:56,040 --> 00:40:59,400 Speaker 1: the world will change and and become better with this 719 00:40:59,520 --> 00:41:03,040 Speaker 1: amazing saying technology that has a lot of potential. All right, 720 00:41:03,080 --> 00:41:07,200 Speaker 1: thanks so much, you're bet hey. If you like this 721 00:41:07,280 --> 00:41:10,919 Speaker 1: episode of the Market Disruptors Podcast, please help us take 722 00:41:10,920 --> 00:41:13,480 Speaker 1: this to the top of the podcast charts. Just please 723 00:41:13,520 --> 00:41:16,800 Speaker 1: do me a favor and rate, review and subscribe. Taking 724 00:41:16,840 --> 00:41:19,360 Speaker 1: fifteen seconds to just leave a quick review goes a 725 00:41:19,440 --> 00:41:22,120 Speaker 1: long way and helping us reach more people and disrupt 726 00:41:22,160 --> 00:41:25,040 Speaker 1: more markets. I really appreciate you listening and I'll see 727 00:41:25,080 --> 00:41:27,240 Speaker 1: you next time on the Market Distructors Podcast.