House house consent broadcasting live from warm sunny colorado recent events have definitely been tough on everybody in not only our industry but the world as many of you are aware yesterday the united states restricted travel to europe for at least 30 days and it seems like we are headed for a very significant economic event which could lead to a global depression all markets whether it be the commodity markets the equity markets bond markets currency markets and the crypto markets have definitely taken a hit and endured a great degree of volatility in unstability this said it is important in times like these to take a step back and reflect at the fundamentals of society and the fundamentals of our industry and where we're all going yesterday I received a package and I was very excited to receive this package it's a battery but it's not just any type of battery it's actually a graphene battery now graphene is one of those wonder materials that when I went to university I got to read about and study and understand and there are a lot of prominent scientists who feel that it's gonna bring in a new dawn of humanity this battery is charged is much faster than normal batteries and its capacities much higher and once these things become mainstream we're talking about cell phones that could stay 3-4 days without recharging cars that could drive a thousand miles and this is just one of many examples of what's coming in the next 10 years to 20 years whether it be advancements in AI whether it be advancements in nanotechnology whether it be advancements in material sciences we are entering into an age of Plenty and wonder and we are entering into an age where the foundations of the research done in the 20th century get to be enjoyed by those living in the 21st century so there are no problems so big that it will collapse society there are no problems so big that everything is going to fall apart the reality is right now we are in a period of fear and uncertainty and the fear is far worse than the reality this is certainly a problematic disease there are plenty of problematic diseases and certainly far worse ones like hemorrhagic fevers even HIV and it will pass while it will disrupt things and slow things down and the markets have taken a temporary hit our fundamentals as an industry are just as sound is the fundamentals of graphing technology or any of the things that we're getting in the 21st century right now today in my calendar I have meetings with people in my company living in nine different countries we have no disruption to our business operations and we have no disruption in the passion and excitement that we carry for the technology we build none of our roadmaps or schedules are changed and we do continue working hard every single day and the reality is this is the same truth for most of the people in the cryptocurrency space and I ask myself who is my community contains engineers doctors lawyers politicians the rich the poor they're all unified by a belief that the things that we build should exist and these things should belong to the global Commons at the end of the day long after kovat is gone Cardno will still be here long after kovat is gone our industry will still be here and during the cleanup phase from this global pandemic we will start asking fundamental questions of why when we knew this was coming we had 17 years of notice since the first SARS epidemic in 2003 did we do nothing collectively as a global community why are our markets so fragile that a disease that when a young healthy person contracts it kills less than 0.1% of them were we so filled with fear that we had to shut entire countries down and end all recreation why is it in an age where we can build batteries like that where space travels becoming Mercia lized in private where we can do pretty much anything we want these things keep happening and we will start asking for new systems new ways of voting new ways of giving people power new ways of dealing with crises new ways of representing value and property so it's not as volatile and not subject to the irrational whims of a marketplace from day to day and Black Swan events we don't have any control over we now look at the solutions the ECB press conference today the offerings of the White House yesterday and it's the same old will give you some loans will get more credit will print more money will lower interest rates this will not fundamentally fix a fundamentally broken system an unsound system the only solution long-term is the technology we as an industry are constructing and the only solution will be to have the minds who have not been engaged in this problem solve that problem wasn't too long ago when Einstein said that the problems of today cannot be solved with the minds of today you cannot solve problems using the same solution over and over again and the reality is that our industry is here to stay our fundamentals are sound and things will get better and yes while prices collapse from time to time and fear has called the markets I will remind the broader markets that we've been here before we've seen collapses before we Bend through cycles before yet we are still around we are still strong and we are still resilient as an industry and I call upon all the leaders of our industry to give a similar message it's time for calm it's time for fundamentals it's time for first principles and it's a time for us to all ask why are we here is it to make an extra dollar is it to see things go up 10% or is it here to change the world so that we don't have to live through these types of problems again and again and again and keep being at the mercy of the few so I for one am committed my company is committed our technology's committed our community is committed and we continue to wake up every day with calm certainty and a desire to continue working hard we will continue shipping our products our operations our undisrupted and we will get this done together and then once it's in your hands together we will work together to take it to the whole world to the billions of people and show them that there's a new way of doing things that doesn't require the sins of the past so hang in there hang together and make sure that you don't succumb to fear that's the worst thing panic that's the worst thing in this case the treatment seems to be worse than the disease itself and I believe in each and every one of you you certainly believe in us and we take a lot of pride in that and we take a lot of comfort in that and I believe in the fundamentals of this industry and I'm committed as hell and we're gonna get it done one way or another so thank you for listening and hang in there everybody Cheers
