hi everybody this is Charles Hoskinson broadcasting live from warm sunny Colorado it's almost 10 o'clock at night but we're all under quarantine here the state's completely shut down except for essential travel in fact if you're caught in the streets they'll throw you in jail if you don't have a good excuse for it $5,000 fine and 18 months in prison so I guess they're taking this quarantine thing pretty seriously but I I do have a nice farm and my my home office is quite comfortable and has good internet as good as we can get it you've been out here in the farm so I still can reach all you guys and hope everyone is doing quite well thank you so much for showing up anyway the purpose of this video is a little bit freeform but I did want to provide a slight update so we are going to have our next product management update come March 31st and this one is unlike the last one going to be live so I believe there's going to be an opportunity for QA and it's a great opportunity for you guys to get to know most of our product managers we're still bringing some product managers online but those product managers that are participating are covering to a large chunk of the entire cardamom product and hopefully we'll be able to get some other senior personnel involved as well like our CTO romaine I and Jeremy Roni and Tamara and others so that you guys can see a very diverse sampling of people it would also be very nice to see if we can get a Roy update as well from either Nico or Sebastian it's a good opportunity for it given that it's on a monthly katie's many of you saw the video that Tim made today if you go to our our HK YouTube channel you can see the the bio reboot video that we just launched today and that covers a lot of the USBs of the reboot and explains why the reboot is such a significant event for us we're also preparing a lot of content on the reboot in general so that look for blog posts and media stuff and videos and so forth we're going to roll that out and we're preparing some Hydra specific content as well we've been writing a lot about Hydra we're trying to get it out to the general public in terms of releases partners going to announce the reboot but as I mentioned in my prior video it is imminent and it's going to be a rolling launch so we'll probably do the command line version of it for enterprises and exchanges that's the node with the wallet back-end and then the next launch which will be shortly thereafter will likely be the GUI on top of that you do these rolling releases because there's different people who have to upgrade in different orders that said we have been toying with the idea of copying what Google's been doing with Chrome and canary having Chrome Canary and regular chrome where canary is the kind of the experimental rapid prototype build and then regular chrome is with the mainstream uses to do that with Daedalus because Daedalus is somewhat decoupled from the rest of the stack we could do rapid upgrades on a weekly basis with it just like we're doing weekly upgrades with the incentivized test net so so we're pretty excited actually about all of this and we're really excited to see that as we enter into awe April we're going to be completely different way of communicating and releasing software than we have over the last 18 months so it's been very nice as a CEO to see all these things come together we we had the resilience and the dogged determination to just keep trying and just keep trying and trying until we got to a point where we found something that worked well for us given that we didn't want to compromise on the integrity and so forth of the product more papers are coming out some of you noticed that we published three additional white papers if you go to the ihk a research site I think our count of papers is up to 62 we're still of course chipping away at the peer-review side of things some get in some don't and we're of course updating our papers and our content and we're cleaning up a lot of the research and we're kind of finalizing some research agreements especially on the network side we'd love to do some more in-depth knowledge about pub/sub we learned a huge amount about polder cast because of the ITN I personally really liked that protocol and the creator of Boulder cash bureaus for that 2012 paper were right now negotiating bringing him on board to do some directed research to kind of do polar cast to and combine lessons we've learned on the Haskell side and on the rough side to get a pub/sub system that makes sense for us so so that's that's real exciting will now set as soon as we can we're still waiting for that post quantum signature scheme for blog signing we thought we were gonna get it at the end of January but academics or academics and this was a non-critical items that we haven't pushed you hard on it but one of these days we'll get it along with The Associated code so that's going to be a hash based crypto scheme and it's going to be used to sign blocks that state pools make and it will add some degree of quantum resistance to our protocol unfortunately until we have post quantum vrf we can't close that gap and we'd also need to formally modify our security proofs to include quantum adversary so there's quite a bit of work to do to achieve end and post quantum community and there was also some open questions about certain things that we do with aggregate signatures like the LS or things that you do is zero knowledge crypto if that's portable into the post quantum world or not and what changes you're going to have to make to make those things work well so so stick with it we'll write some posts on that it's not in the mission critical path because content computers don't exist at scale yet but it is important to know that we have a path for quantum community if and when that becomes a problem and that path is not destructive to our core technology overall things are really shaping up nicely from Voltaire to our plans for Hydra to where we're at with smart contracts now how quickly we're rolling things out so it's it's really been a blessing to see despite that we have a global pandemic and the whole world is shut down that we're moving just as quickly if not faster than we were prior to the world being shut down I guess the lack of travel means people can be a little bit more focused on certain things and I hope that holds up now speaking about the global pandemic you may have noticed I made some comments speculations about will happen in the United States and this is a very complicated question it's something that nobody really has a good answer about the facts are that the United States basically was fairly aware of how serious Kovac could be back in January in February apparently the president and key members of our ruling class were given a really comprehensive models and information that should certain thresholds occur that kovat would become a global pandemic and so there was many people who believed in January and February this would be the case now unfortunately what occurred is that the US response was a bit lagged well we did Institute some travel bans we didn't really push hard to get a coordinated response between the states and the federal government coordinated testing and a litany of other things and it's not a particular criticism dany critical person it's a reality that in a country of 300 million plus people that is run by a federal system with strong political differences and strong opinions it's very difficult to get that initial coordination started since that time we've seen a pretty remarkable mobilization of the American public there's a lot of public-private partnerships that have been established there's been a rampant scale up and testing looks like antibody tests are on their way so we'll actually be able to know who's been infected and there's been and now I think over 70 drugs identified that potentially could have therapeutic value and there are literally hundreds of case studies running now these case studies will finish their first wave of review in April so these aren't vaccines these are existing drugs seeing if they have any therapeutic value now those existing drugs if they do then what that means is you can take a critical case to a moderate case a moderate case to a mild case and substantially reduce the mortality rate amongst the most vulnerable potential so that's a great win if we can achieve that now some of you have noticed that I've been a little harsh about hydroxychloroquine and I felt I should probably had a few words to that hydroxychloroquine is an old drug I think it's been around for over six decades and there was a French study where they used hydroxychloroquine and it was this row myosin and I believe zinc together for somewhere around 3040 patients it's not a large enough group and the study wasn't constructed the way to give you statistically significant evidence that this is indeed a cure that somehow will completely solve the problem and it's not not exactly the safest of drugs to take people with autoimmune problems like Lucas take it people have been exposed to malaria have taken it although malaria does exhibit a degree of resistance against chloroquine now I and I really hope that that drug works but there needs to be more studies and there are studies coming out and as of April we'll know now those of the camp that hydroxychloroquine works apparently doctors seem to agree with you because I read an article yesterday that there's a shortage of hydroxychloroquine being created by doctors prescribing it to themselves their family members to stockpile along noses this reminder so maybe they know something we don't know or maybe they're just stockpiling whatever they get their hands on there's also some other drugs like from death severe and some other of those severe antiviral drugs which are quite promising because they're designed specifically to work on viruses and they tend to have very few side effects for people the good news is that probably within the next 30 to 45 days at least some of these are going to be determined to work pretty well now it should that occur I do not believe that we will be at a mass quarantine situation meaning the entire United States shuts down I rather I think what's going to happen is there will be localized quarantines and that'll be like New York City and other places in those quarantine zones will stay in a until there's some degree of herd unity and they've managed to flatten the curve enough and their healthcare system is not super overwhelmed the concern is that if you allow people to flee these large cities I read statistics as of one out of every thousand people who are right now leaving New York City are infected and they don't even know that they're infected with korone fires and if that's the case then when people leave by the thousands or Millions you're actually creating a situation where that scattering further infects places which may not be able to handle the caseload so this is why I made the comment that I think that Trump may have no choice but within the next week to two weeks depending upon the growth rate dance to some level of national quarantine if he did that probably would do it at the large city scale so big cities like Los Angeles New York City and so forth say that people simply can't leave they have to stay and in place there's already been substantial travel restrictions placed in many places within the United States and that's probably going to continue for at least two to four weeks that said I do not believe that we will see a global scale quarantine throughout the entire United States for six months or nine months or 12 months if there was anything that was across the whole us it would probably be for a period of four to six weeks maybe eight weeks just depending on how fast things go but you know we're seeing a doubling every three days to four days and major population centers for cases my dad is a physician in Wyoming and they went from no cases in Wyoming to around 40 cases in Wyoming I and bran Allah Wyoming is the literal definition of social distancing five hundred thousand people and state the size of Colorado it just there are ranches out there that are 600,000 acres you really can't get as far apart and anywhere else in the world as Wyoming and despite that there are still some cases going on so so it's pretty amazing that even as the places sparse as Gillette and its Cheyenne and Laramie that they are seeing spreading occur what encouraging though is that the eighty 15-5 role of influenza seems to be the case with kovat so eighty percent of people who get it you're either asymptomatic or get mild cases so it's just like a normal flu 15% people get it are either need to be hospitalized or get a moderate case but it's not necessarily life-threatening it's just something you remember and you tell your friends is if boy that was tough and 5% of people who get it get very very sick and actually require rather significant treatment including being sent to the ICU unfortunately countries like Italy we've noticed that a 90% of people who've been put on ninety one percent I think the statistic or 81 percent have to look it up again it came from UC health that we're put on ventilators did not get off into laters they just simply died while on the ventilator so that's quite unfortunate and Italy in particular seems to have an unusually high mortality rate the CFR is quite high amongst people who are ventilated which is why we're seeing seven eight hundred people die per per day in Italy and it's just strange that they've been impacted so hard so that's certainly a problem for the whole world but I think the biggest lesson to learn here there are three and they're directly related to our industry the first lesson is that the government is fully prepared our government and all governments to print an unlimited amount of money to maintain order right now the United States is leading the pack and it looks like our bailout is going to be about six trillion dollars two trillion from the bill directly and a prepared Federal Reserve is prepared to inject four trillion dollars into the US economy many people ask where does this money come from and the answer is it's printed out of thin air it's the world's largest pre mine and you know when I was younger I remember Bill Clinton leaving office and the u.s. national debt was four and a half trillion dollars and we had a surplus now what we're doing in just a few days of debate is printing more money then every single US president from George Washington - George - Bill Clinton spent in the entire history of the United States including the Apollo program including World War one and World War two the Civil War and so forth which is extraordinary and we're just doing it with a few days worth of debate and of course the liberal sides of the hour parties can't resist but try to riddle that bill with a bunch of an identity politics and social justice and so forth the standard disgusting stuff but what can you do this is who these people are so it's indicated that the old order is fully prepared to do whatever is necessary regardless if we suffer long-term consequences to create another limited amount of money and they'll just do that they're also fully prepared to of course bail out industries which have behaved irresponsibly you know our company we have a stockpile of cash for bad times Microsoft did as well it's one of the reasons Bill Gates is the world's richest man he lived in an environment where people just simply didn't pay their obligations so he made sure he had at least a year's worth of money on hand and assuming he made no revenue now many of our businesses for some reason decided to spend their money on stock buybacks and other things and they didn't stockpile of resources and as a consequence now that times are thin they're not in a position to survive for three or four months which is really crazy you know and yet we're now apparently going to bail these industries out so it's really sad there is no Main Street protection here it's just always Wall Street it's always corporatist because that's who runs our government and there is no difference in the UU or anywhere else for that matter that's first lesson that you know infinite money is coming the second lesson is that the world is still very bad at a coordinated global responses to collective problems and despite it needing to work together the world is not working together the ventilator shortage problem is a great example of that we knew as early as January that this is going to be a huge issue yet for some reason we just simply couldn't actively figure out how to rotate ventilators around the world so that the areas that need them the most could get them so we don't have to panic manufacturer haphazard crude ventilators and get them to places we could make sure that everybody who needed medical equipment could get medical equipment that's just one example another example be the personal protective equipment another example of research coordination drug trial coordination there are a hundred different ways that we could have worked together as the world to dramatically blunt this crisis we didn't do it I think this is the single greatest proof of why blockchain technology is necessary you know the reality is that our industry is the industry about consensus trust and coordination it's not about money bitcoin started as money but this is all about saying people join a game and they ultimately agreed to play collective rules and the governor of the game the code prevents people from cheating and when you're talking about coordination whether it be coordination of a supply chain coordination of medical records coordination of value whatever it might be trust history truth these things this is what we do and this is where we excel so there's this means I think we're going to see on the back end of this crisis a lot of people cleaning it up and asking well how can we do better and this is a great opportunity for us as an industry to rise up and let the world know that our technology exists and that we have an alternative to creating a global government we have an alternative to just empowering one particular body or entity or person we can achieve what we want which is global coordination without pushing power to the center or embracing a king so I believe that this is exposed the world for its weaknesses but then it also gives us a tremendous market opportunity on the back end the third thing is I think this is going to lead to a humongous amount of innovation you know the innovation in particular about but testing a lot of biomedical innovation for example there's probably going to be the case at some point where we can rapidly test people who enter a country so instead of quarantine protocols being you can enter or you not enter 14 protocols will be that you fly in instead of to all airports you fly to specialize the airports and you get tested and you will not be admitted to the country unless your test results come back negative I've already seen entrepreneurs and really smart people running around creating rapid test kits for Crona and they believe within 15 minutes you could potentially get a result so I think there's going to be a tremendous amount of innovation over the next 10 to 15 years where people will be able to get tested at the border prior to entries for not just one disease but potentially hundreds of diseases which we are worried about spreading this also opens up the question about digital identity and the idea of a bio passport so Malhar thinking that it may be a good idea to embed within a passport circuitry that allows you to store a subset of a tested medical records from vaccination records to testing records and so forth and to say okay well before you can enter the country you have to go get tested or verify that you're negative or vaccinated against these particular things and then at the border both before you arrive when you're checking in and when you arrive you can actually scan the passport and it'll reveal that you you're clear so this type of stuff is coming and it opens up a broader question about the portability of medical records who owns those things and identity in general and this is basically why we are building the technology we're building again we're not just talking about money we're talking about identity we're talking about who you are what you've done where you've gone and that can be your education your employment records that could be your health that can be your social network these types of things these are all relevant to nation states these are all relevant to employers and we have to either decide these things being owned by your government by a meta government or these things being owned by you the consumer and you get to decide where and when and how they're going to be used so we are building a great piece of technology that's shipping with card on oh it's called prism which uses the dead the decentralized identifier which is a standard created by the w3c along with some great blockchain technology to actually allow you to have an identity and build lots of metadata information around that identity specifically for these types of use cases it would be great for diaspora it'd be great for vaccinations it'd be great for medical records it'd be great for basically any context where you need to own your identity and then people need to operate on that identity in a global capacity while preserving your privacy and putting you in control so I really hope the industry as a whole recognizes this is a great opportunity for us to have a meaningful statement on that innovation side and say another thing for example some senators are complaining because Rand Paul tested positive others perhaps will have it that they can't vote why can't senators vote remotely why do they actually need to be physically in Washington to do that especially if they're ill and then to extend that why are we canceling elections why can't we vote online so closely related to the identity component still on the theme of innovation I think this is a great opportunity for us to actually make some very compelling arguments about a voting I know it felt it and others have expressed deep concerns about the security of voting but then when you think about the level of participation we can have how far this field has advanced the fact that we can create very secure environments in the fact that we're trusting our phones with our location our privacy our money and litany of other things probably makes a lot of sense to say that we can vote online now the solutions we've constructed and are constructing can allow people to run elections and an incredibly low cost on any scale from one person to a billion people and spin up either direct democracy liquid democracy representative democracy we can cover all these things and this is what makes the whole tear experiment so exciting yes we're voting on changing the protocol and voting on ballots but we just as well can use that to vote on leadership and as well could you set the vote on bills and corporate governance or government governments and so forth Society level of governance so this is a great opportunity for us to actually make big inroads in the digital identity and the voting side in particular and to propogate blockchain technology as far and wide as we can on our side were of course going to try very hard to do that in the state of Wyoming we think there's a great appetite for it and on the backend of this we'd love to see both the Democrat Republican primaries moving forward be done with online voting through blockchain we'd also love to see statewide elections done that way and it's such a small population state that we have a legitimate chance of being I will accomplish that within a three to five year time horizon and as a US state that would be a wonderful way to create a beachhead where we can get it across the entire United States we of course also try to sell these types of solutions and any government we enter as we feel that it adds a lot of trust credibility faith immutability auditability into an election system and of course you can add layers of privacy to it to meet any domestic need that's required so so we're quite we're quite happy about that so anyway those are three things I think are going to come out of this or have come out of this one government prints unlimited money and the Fiat system is corrupt and we will see negative interest rates probably as a result of this I do not have any faith in the global banking system I think these guys are foolish yet and I think they're hurting the poorest people in the world and we're on borrowed time but the way that the economy has been set up I also believe that you know this is kind of exposed our global governance issues at a level that people just were not willing to admit but now have to and I think that this is going to lead to a huge amount of innovation especially younger people who are deeply troubled and tired that our only solution for something that's affected humanity since the beginning is to shut the whole world down and just wait for a few scientists to come up with some stuff so our responses can be cynicism and pessimism and we can respond by complaining blaming and being toxic people that just just negatively bring everybody down or we can respond in a very very positive way by offering solutions and by offering a new way new path forward and saying that we can come together and work together and accomplish great things and the people who offer solutions generally the ones who get listened to especially in times of the crisis so another topic I'd like to bring up is the Wikipedia issue I brought this up yesterday and we mentioned people like David Gerard and others basically here's the situation as I stated we have a situation where we feel we're a novel project we feel we have a novel community we feel we have novel accomplishments we have been talked about by every single entity that matters at this point from being on Bloomberg from being in all of the major financial publications we've been mentioned by governments we've partnered with governments we have won the academic space and achieves the highest levels of success there whether people like our project agree with our values disagree with our values think we're going to succeed not succeed the fact that we've spent tens of millions of dollars collectively built tens of thousands the hundreds of thousands of people in our community and have been around for five years I think this justifies us to have a Wikipedia page especially given the standards that Wikipedia seems to have are completely bizarre some incredibly important people don't have pages very obscure people do in their stubs there is a particular set of editors who seem to really think cryptocurrencies are a scam have publicly said this I even tweeted some statements from those editors written books about it and as a consequence all cryptocurrency articles seem to receive arbitraries levels of scrutiny when these editors show up and the first victim of note was aetherium where the article kept repeatedly being deleted and the theory community itself guns so angry they started reading about that this happened as early as 2016 four years ago we are victims of this now the Cardinal community our article does not exist it was erased now if there were standards to given to us like these editors reached out and said hey it's obvious you guys are a notable project but you need to write a great article and then once you do that we can actually get it done we would be happy to invest enormous resources into doing that well we work with the community we work with trusted third parties and we get this done so that we can have a fair and accurate representation of who we are including criticisms for example our delays okay unfortunately no such option is available to us basically we're told we're violating Wikipedia's rules or our community is we're not sure how but we are and the consequences are that we don't even get to be talked about this is a great example of why Wikipedia is a failed platform you know if you say you're just going to be in an encyclopedia and you're a centralized organization you're allowed to write about any topic you want you can leave out things you can add things in you can explain things in great detail or not a lot of detail that's a commercial decision for the purchases of your good just like Britannica and Encarta and all these Compton's and all these other guys didn't even hire Patrick Stewart to go ahead and read off your articles I remember the old cyclopædia that did that but if you say you're an open platform that's going to crowdsource contributions and your goal is to have an accurate fair representation a neutral representation and balanced representation of things that are noteworthy you must apply that standard across all articles in your ecosystem and the fact that there is a known extreme bias against crypto which is self admitted and Wikimedia allows these editors to still exist and they're now using it against us is a great example of a platform that has failed there's been a very historic crypto bias in Wikipedia as early as 2010 I believe they were erasing the point article in the Satoshi article and Bitcoin itself was attacked by Wikimedia they said it wasn't real money they didn't want to accept it as a donation the originally associated it was drug trafficking so you know that's that's that organization but I just want to remind every single person in our space I do not feel Wikipedia is a credible resource I feel it as they failed encyclopedia there are some great articles there and there's some great information there especially in certain scientific topics but for the use of crypto currencies given that our competitors some much smaller are allowed to have pages we are not and any attempt we have to try to create a page or influence the creation of a page so people can talk about a noteworthy enjoyable project is completely met with censorship I consider this commercial censorship it's wrong if they have the ethos that there are commercial entity and they're allowed to talk about what they want to talk about and they're not fair and balanced then that would be their prerogative and I'd be fine about it but I feel that they're a dishonest organization as long as they allow this to process at some point we will talk to members in the media about it we will present an incredibly compelling case and every month we will increase the level of pressure until we get a formal statement from the operators of Wikipedia why they want to allow these editors to continue behaving in this way or why they feel we're not noteworthy if they at least make an argument why our competitors are noteworthy who are of the same or smaller size who have been around for less time than us or make an argument that you know somehow they are not worthy we're not noteworthy then at least that's something but right now it's we're not following the rules I guess they were I guess Joe Lubin gets an article I don't this person gets an article we don't it doesn't make any sense there's no rhyme or reason about it we don't understand it and if you're in a critic of card Auto a competitor of card on oh you're laughing and saying hey how look how great it is our competitor doesn't get mentioned I will remind you at one point we had an article it was erased you can become the victim just as easily as and you will unfortunately have the same recourse we have which is to directly talk to the community and tell them what's going on this has nothing to do with Cardno this has nothing to do with your favorite or unfavorite project getting some love or not getting some love this is an industry-wide issue which has persisted for over 10 years with this particular platform and the people in charge of deciding what's fair and balanced have written books saying we are scamp's as an industry not card ATO but as an industry that the best thing that can be done is for us to go away as an industry these are exact quotes if you take a look at my Twitter feed so just because you happen to be on the beneficial end do realize that at any moment you could be on the receiving end of this and you'll be in the same boat as us so as an industry as a whole I think we do need to band together and get a clear policy why crypto is treated the way it's treated perhaps this organization feels that they will actually be put out of business by our industry there's actually a good possibility of that I'd like to commend the ever pedia guys for trying and you know at some point if they keep doing this to us maybe we will throw our hat during create on Wikipedia replacement if you look at blockchain technology with all due respect to Jimmy Wales who I don't really think understands what we do it was literally created to put the level of transparency trust accountability and auditability that is required for a system like Wikipedia you have edit logs shouldn't those be immutable shouldn't those be beyond censorship you have incentives for contribution wouldn't a token economy help that and create a financial incentive for people to create a high-quality content you have voting systems shouldn't you get some Democratic mandate about certain things instead of allowing certain people to rule like little dictators and so forth so to me it feels very very prudent for us to to really explore having something like Wikipedia replacement on a blockchain and I'm glad that people are starting to look into it and if this continues I think there is no alternative for our industry as a whole I I don't want this distraction at the moment we have too much work to do and that's why I mention my prior video that we're not going to do anything until after Shelly ships and at that point we'll have a bit more resources and a bit more oxygen to think and I hope that this naturally resolves itself again we're not asking for preferential treatment we're not asking for anything above and beyond the standards that have already been set we're just asking for fair treatment and we don't feel it is fair treatment when people like David Gerard our editors deciding whether we're noteworthy or not when they have expressed a clear public bias over a multi-year period for multiple projects and said we don't even have a right to exist this would be like having Nancy Pelosi be the editor of trumps article on Wikipedia I mean or having Trump be the editor of Nancy's article it's a clear public bias that is obviously there it's not balanced and if our competitors some cases smaller and less relevant are allowed to have pages and we're not then you have to ask yourself why is that and if they don't feel we're noteworthy project then publicly open a letter and explain why we are I'd also ask that anybody who donates to Wikipedia prior to making a donation ask for an explanation of why Wikimedia is willing to censor people and embrace this type of censorship you know why do you have a right to ask for money for omission if you are clearly in this case in this industry not following that mission oh and we'll get around but hold the patience and hold the faith about it but it's disgusting and despicable to me I think again the worst thing they did was editing Phil wobblers biography it is not their job to decide whether the work Phil does today is useful or not if you say this man deserves to have a biography and he has chosen to spend his time on a project then it is relevant to put that information in his biography if it's connected to the tone of the biography he created Haskell and that's noteworthy but flutist that's not that's a ohk spam he created that language amongst others that is a real programming language you can write code in is the primary smart contract language that thousands of gaps will be written in probably by the end of this year that thousands of developers will be trained blockchain courses will be taught in this programming language somehow we don't deserve to have a page about that language even though very small obscure programming languages are allowed to have a page and the creator of that language who does deserve to have a page it has one if it's put in that he created that language it's removed and the exact editorial comment was i ohk blockchains spam that was outrageous it's wrong and it's just an example of where wikipedia is failing I'd love to see a formal response to this I really would love to explain to me how that spam we can of course change and edit things but that's a fact that language exists it's a piece of academic work it's the single most sophisticated elegant and formally verified with formal semantics programming language first crypto currencies ever created a whole new counting model extended UT EXO was created to accommodate it it is not a small piece of work it is a collective piece of workable worth three years of intense research by a team of brilliant academics that has been written in a regular format it exists it's been coated up you can Plutus smart contracts so while other programming languages incredibly small academic language is apparently deserved to have a Wikipedia page we don't deserve to have one there and the creator of that language who does have a page we're not even allowed to mention that he worked on that in his page this is an example of censorship plain and simple so that's the that's the Wikipedia thing now is some people have pointed out that we do have articles and other languages Russian German I think Croatia and Japanese and that's another example of the irregularity of the platform apparently we're noteworthy you know to ride a notable and other society then those editors are great and we have in some cases great articles or at least mention but then in English were not noteworthy okay so what's the standard there it's a pretty crazy thing and when these things are pointed out I understand it's a decentralized organization I understand these are volunteer contributors but when they are pointed out the people who coordinate run that organization have a moral obligation if not fiduciary to step up and investigate and this is of that scale considering that's been going on now for years it's been going on now in multiple communities it has to stop alright now let's get to your questions I'd love to hear your thoughts about the whole Steve versus Tron saga yeah that's a great example of social consensus versus computer-based consensus so we spent all this time constructing consensus protocols with a proof-of-work or proof of stake or otherwise and the idea is that you have this notion of an honest majority and then they get corrupted a 51% attack happens or you have a takeover like what occurred with some steam and then then suddenly say oh god the chain is completely taking over and then people rise up and they say well you know we really didn't agree with that we saw this also with theory in classic for example or Bitcoin cash so your protocol allows the user of the system under normal operations to have a reasonable expectation of the truth that they're seeing is right but then what happens is that when people attack the system either they conduct a 51% attack for what happened with steam there are people who will say okay well I guess I just have to go along with that but then usually what happens is the majority of the community or some cleek of the community will say I don't like that that's wrong I don't agree with this and they split off now previous take is particularly powerful for this because let's use a thought experiment let's say that you have 10,000 tokens and 5,000 are owned by one person and the other 5,000 are owned by 5,000 individuals now under this scenario from a network view you would have equal power on both sides but from a person view you have one two five thousand so let's say that that person with five thousand buys one of these things person leaves or four thousand 999 here and there's one here and then says I'm going to be king of the network I have 51% of the supply I'm going to conduct a 51% of attack now from a network view he's allowed to do that but from a people level of view what happens if those four thousand 999 people just simply say we are now going to create token two and we're all going to have the same amount but you have nothing so he's left over in token one with his ownership of 51% do whatever he wants but then everybody's in token - now you haven't ask yourself does token one still have the same amount of bat the answer is no because the value comes not from the token but from the people behind the token those people their social consensus the infrastructure that they bring the transactions that they conduct the thoughts that they have the interactions that they have with each other value is always in these systems connected to the users this is why when you see guys like Peter shift or Rubini or these others babble on about how cryptocurrencies are worthless because you can click a button and fork it and then suddenly create 21 million more with a different token you say yes you can do that but that next token doesn't have the people people live in an ecosystem so proof of stake is the ultimate system in that respect where when we are all following the social contract and by the way the wealthy have the highest incentive the fall of the social contract cuz if they behave badly they're the ones that could be removed from the system fastest when you're following that generally speaking these systems become very resilient and capable of resolving their problems quite quickly now we are investigating alternatives to stake weighting or control of a system now Bitcoin has that and they have an exogenous system that's my knee but proof of merit there's got to be different ways of doing this we've also seen protocols created that actually allow people to prove they're human beings or proof of human and it could be everything from solving a CAPTCHA puzzle to something else and then you can register for a period of time and identity and then actually verify you're a real unique person so this is the next generation after the first generation of proof mistake but in the mean time it means that we can intervene as a community to recover from events that we feel violate the social contracts of our systems now the base be seen as the system scale can an intervention actually occur at a scale of millions or billions and users but then again if you're a millions of millions of users no one actor will have so much stake they can control the system the Gini coefficient she'd distribute in a way where wealth is fairly well distributed and you can do all kinds of things to kind of create checks and balances inside the system so I think people tend to get too caught up in the network scale side of things and they say if that doesn't give me the absolute guarantee and principle and promise and the code itself is not perfect then somehow the system can never recover from an attack these are systems that are still young and fragile and ultimately their value comes from us so we the people can rise up the point is that the systems protect us from ourselves they show us what fraud has occurred they show us when people are lying they show us when the rules are being violated right now these four trillion dollars that are being printed with the Federal Reserve nothing is going to be done transparently there they're not even subject to a Gao audit that nobody can audit them so they can just pay anybody they want to do whatever they want there's not going really going to be a lot of checks and balances or controls there and we just have to trust people or eyes with our system we don't trust anyone we can see everybody's sins as they are and then we as a collective ecosystem have the ability to intervene where and when necessary to protect the integrity of the system and as the systems get larger and larger the rules of those systems start looking like stoned and people just tend to follow them because they know that they can't violate them it's almost like a digital panopticon in that sense Charles are we different compared to K Zoe's so there are surface level similarities between the tazewell's project and cardinal project but other than that they're completely different projects because they have completely different foundations for their technology we do not have the same consensus algorithms so our security models are different the way our algorithms work are different how people delegate are different how people stake are different how state pools operator different our protocols were built over a multi-year period with lots of peer review they provide things like a decouple clock with Kronos eventually recovery from dishonest majority we do not require a check point these types of things so the consensus layers are completely different the network layers are completely different we build something from scratch I think they may be using secure code emiliya or something like that but they're using much more standard things nothing significant there we have a completely different Network stack based on principles like Rena and then it has the ability to dynamically adjust its period of your policies we're gonna have best-in-class pub/sub whenever we get that and our performance and resilience in that Network stack is very very good and we thought about it for over three years and wrote a hundred and six page paper on how to do that third our accounting models are completely different so I take those uses aetherium style account model we use something called the extended et Excel model we wrote a paper about this in January and this model is great because it enables us to use Hydra you cannot use Hydra in its current form and quesos second this model is much more amenable to sharding world state is much harder to shard and extending you TSO is much better for a functional design model and it also gives us a superior way of handling multi asset to the way that they handle multi-asset our governance systems are totally different as well when we launch the full tear test net you guys will see that but we have a different way of voting in a different way of handling democracy they've chosen a much more deep on change system we've chosen a system that starts a little bit off chain but with something in a side chain which we can gradually bring in so it's a slightly more conservative way of handling governance but overall I think it's a nice way of doing because it allows us to make rapid changes to that governance system we're both implemented in functional languages we use more formal than they do but they use Oh camel and there is some that they use in their stack so okay we'll give them that but there are surface level similarities but there are completely different design science and philosophy these projects they were primarily launched as a governance experiment so they are a proof of state coin they do do smart contracts but the real USP of Tasos is governance on chain this is what they were all about from hilum Goodman days very worthwhile experiment to conduct and I think they've actually made some meaningful and significant contributions we were launched as well we turn to third generation cryptocurrency so we deeply wanted to understand it or offer ability we deeply want to understand scalability and we deeply wanted to understand governance and we've made in our view meaningful contributions in all of these categories and we have answers and solutions to all of these categories or as they've been primarily pushing governments now they've been able to get to market a little faster than us because we had some delays mentioned before but you know this is how it is and if I had to do over I would have been the market before them and if they had to do over they would have in the market really quickly to because they would have made many different decisions about their governance and about the people that they worked with and so forth and these things happen and no one will remember them in five years or six years after we shift everything in our stacks but I think ultimately the process that you've chosen the way we approach how we write code the way how we work with academic partners all of these things are definitely very different from how tase works and the fact that we now have sixty two papers we published I don't recall a single major scientific paper that they've published and push through peer review I guess they don't feel that's necessary I and they and we get criticized a lot in the space that that's not necessary but I feel that foundations built on academic rigor are much much much more meaningful than foundations built by engineers and we try until it doesn't work especially when you're talking about people's privacy and money and people's identity from Jenny's start a Sarkar can you talk to about if Cardona is working on you know operability we are we've written a lot of protocols both on the proof works out of the world and the proof of stateside of the world and we're aware of the market standards that exist so really to be convenient to look and say well you have side chains and there's lots of things you can do there so NEPA Powell's are a great example of this Venus's syndra's has really done the brainchild of that he built this whole PhD on this and basically the idea is that there's a certain structural property of proof of work that you can take advantage of that if you know a little bit about how that chain works and a little bit about the initial distribution then you can construct very very small proofs that allow you to verify a transaction that you're getting is real meaning the tokens exist and they haven't been double spent those are the two conditions that you need to satisfy so the NEPA Powell idea the non-interactive proofs the proof of work are those proofs and we created the theoretical foundations for them and others have borrowed it like fly Klein for example and that science is maturing quite rapidly and that's the key to having superlight clients for Bitcoin and that's the key to having beautiful interoperability between two proof-of-work crypto currencies because they can trust lessly send transactions to each other if you inject just a little bit of bootstrap information in both chains and you change a little bit of the validation so that these transactions can validate and treat assets as foreign assets so we understand a huge amount about NEPA piles we've even constructed a proof of bern system for that and at some point we will roll that out and because we can interpret those proofs our state pools could process those proofs and then that would allow us to receive assets and information from a proof-of-work chain now for a proof-of-work chain to get those assets back or interact with us that chain would need to have some changes and that's really one of the problems of proof of side chains is that bitcoin is king and the people who maintain bitcoin have really no desire to talk to other crypto currencies so they are holding back the entire industry-wide centralized trustless interoperability conversation by not leading there so there's also an equivalent notion of constructing these types of proofs using different math and different ideas for proof of stake but that's one level of the other level is saying well because Bitcoin won't change and because the industry is where it's at let's create trusted bridges that can see both systems and kind of managed locks so inter ledger is an example of a protocol like that or you could use the Lightning Network as a protocol like that there's been a lot of ideas about trusted third parties coming in to manage movement of funds and information between systems so we're pragmatists we're not going to go invent the Wi-Fi we've already done a lot of that but at the end of the day interoperability is a market standard and whether we have a perfect idea or a substandard idea the markets going to tell us which one to work with and that's the one that we're going to adopt and pull in so we're waiting kind of to see what happens and we'll see what we can do now that's for everything outside of cart on oh but there's this idea it was as early as 2016 where we were talking about card on my cell and Cl and Cardinal ad and basically the concept there was that we'd have these side chains that would run connected somehow to card on o and they could do their own things they could have their own consensus rules or they could have their own virtual machines which were distinctly different they would run for some reason one thing we can do because the way we wrote the fireman reboot code and the shell eco to the Gobind code is that it's very easy for us to spin up a permission to ledger on that code base and switch from or Boris to Oh PFT which is a PFT protocol that's basically like what fabric has or any of these other consortium chains have and if we have a good side chains communication protocol when you spin up that permission ledger it will be able to natively communicate with Cardinal as an interoperability layer it's almost like what polkadot or cosmos are doing so we can capture that business model very quickly and allow people to do permissioned DLT with card ion technology the issue assets run smart contracts do it very high performant in any configuration they want but then when they need a public system to communicate the other permission block chains or to allow their users to use public infrastructure they can move assets and information very easily between those two systems so we are investigating that and a lot of this came out of our discussions with atala taular really gave us a nice sandbox explore and understand these things and to me it'd be great just capture what cosmos has done and polka-dot have done and that's a very low-cost thing for us to do and this code base is written in a way that makes it quite easy for us to do that it would be like literally weeks two months worth of additional engineering work to bring that to our ecosystem and then suddenly we have the perfect permission and permissionless ledger solution for everybody so this is what good engineering gives you it's one of the examples of why we broke wrote things in the way that we wrote things is to be able to bring these things out quite well for everybody well Dedalus have legend NOS support soon yeah we do have that support in the code but we haven't turned it on yet and we will turn on the coming weeks or months it's hard to say exactly when that's going to hit and this is why actually the Daedalus canary idea is so powerful because we could actually turn it on with that and then you guys could play around with it we verify that things are looking pretty good but there's a lot we actually have to do on the accounting model for Daedalus because right now it's just HD wallet you import the wall and that's it but then you have single-use of dresses you have cold wallets support you have multi currency because that's coming soon so these types of things these types of things are are coming and you know it'd be nice to be able to do that in a and then interface and you guys can play around with it for a while but we've known about it we have plans for it it's not super hard to do and there's a question about attrition of IO HK employees we don't really have that much attrition if I which employees we have a very low turnover rate I think it's five or six percent per annum maybe lower there has been some turnover in the product management side guys we've had two years of delays figure that one out if if we try to get something out and it doesn't get out some people have to be accountable for that and we just changed directions so I won't hesitate to change directions where one is necessary because I'm accountable to delivering a product and I'm accountable to you as a community and no matter how well-intentioned people are accountable to deadlines and if they're not achieved then we pivot change strategy change processes in some cases change personnel that's that very few people leave they like what they do and in many cases people try to poach our people from Google to Apple to others and they stay even when offered more money because they like what we do can you talk a little bit with runtime verification do you think whatever kind of contract them out again you know RV is another example of where we really wanted something work you just couldn't financially get it to work so when we started this we didn't know if the extent of UT Excel or Plutus idea whatever materialized and time to be competitive and produce real value for market so we actually launched two teams at the same time and one was go formalize what a theorem had done and basically do a do-over so had I still been CEO of etherium and had I still been in that ecosystem the theorem would not be running on the EVM it'd be running on yella but Gorry Roshi created yellows of beautiful virtual machine is significantly better than the EVM it's based on some legacy principles from LLVM it's a lot easier to write tooling for it and you could do tons more things with it and we assembly even looks a lot prettier it looks like C as opposed to like assembly so so overall what we did with our V was something more traditional and expected in the imperative world and then we also have this concept of K and SBC as a long-term path to having thousands of programming languages run in the system extended UTM so in Plutus is much more of a DSL driven approach where you have a leg kind of as Plutus idea which is your interoperability language and it allows you to corral loss gene infrastructure but then within it is this magical concept that you can write dsls for law for supply chain for medical records and financial transactions and those are very simple and they're very easy to test and validate against the business logic so while you get less flexibility in that model you get a much higher assurance that what you're writing is right and what you're writing is specific for your domain and also if you move away from professional programmers which is what yellow is looking at more towards domain experts and the domain experts could be lawyer could be supply chain expert NBA are actually writing their own smart contracts and of kind of a plug-and-play language to model their business domain now all things if we had unlimited resources we'd still be funding the RV relationship we spend about five million dollars doing foundational work if you Fiat few million ADA but it was just one of those things where we had to make some hard choices and we scaled down certain things to make sure that we could deliver an end-to-end full product as you know markets went from 30 billion dollar ADA down to down to billion dollar a day you know and you you can't spend a thirty billion dollar ecosystem for a 1 billion dollar product but that said we've maintained a good relationship with Grigory and his people I think he's a very ethical guy I loved his way he thinks I'll of his researchers and I think there's a very strong possibility that when we reintroduce volt error that we probably could find a way to bring him back into the community somehow and perhaps a slightly smaller longer-term engagement to find a way to get yelling into Cardno and find a way to get K and s PC where it needs to go to realize that promise and so that's gonna take some time and we still have to hurt some cats for it but he's been doing this for 15 years after he left NASA and became a scientist at UIUC this is his baby and he's created his own logic it's called reach ability logic and he keeps working on the K framework and he keeps doing work with SBCC his graduate students do as well so that was another reason we invested in him is that regardless we gave him money or not those projects would continue and there's even been some people cryptocurrency space who have looked into his technology like Elrond I believe is using yella a written and go so so that's some very impressive work we even got it working at one time in 2018 we had a yellow test net and we we ran some yellow contracts I know Sebastian was very excited about a prospect of some syntactic sugar for yellow so people could write smart contracts directly in it and I was really happy to see that and they wrote some great papers and they actually wrote great code so we're real sad to see that go but we'd love to we'd love to bring it back in at some point Charles Hoskins looks like he's 60 years old yeah I'm getting old guys old and fat white hair is percolating in it's for you I looked young when I started this now I look old Justin Fujimoto asks what types of trusted hardware is being built at the Wyoming blockchain lab what use will they provide so basically the idea after we did the New Balance deal we use the tan Jim cards as the authentication piece it's nice when you have trusted Hardware because you have on one hand the token one hand the trusted Hardware and what hand the product so you kind of have to merge these three things together so if you can take something and embed it into the product itself for example you have a handbag you put a chip into the handbag or a chip into the shoe then you can do that in the supply chain and then you have a separate role in your supply chain called the Authenticator and the Authenticator can verify what they're seeing is real and then they have an authentication token that they can send to be controlled by that piece of trusted hardware that you embed within the device then what happens is that is everything moving forward is challenge-response the consumer will have an app and what that consumer is going to do is when they see the product it could be a handbag or a shoe or a watch they can scan it usually using NFC and it's a challenge response protocol the app knows the blockchain with the authentication token on it it's saying that the chip is identifying that it is this particular token then you say okay prove that you have the credentials for that and then the chip will generate a signature from a challenge and then send it to to the phone that's asking only the that has that private key we'll be able to do that now if you generate the trusted hardware in the right way what you can do is guarantee that those keys are unique so when an address is generating this Enclave it doesn't exist anywhere else you get approve of the uniqueness for that and you know that those authentication tokens were issued by the Authenticator either by the merchant themselves or a third-party provider for that merchant and then once you validate that that particular address is writing that address can be attached to an arbitrarily large amount of metadata this is why Cardno has an identity standard that did and Cardno has a metadata standard because when you cover these things together then you can actually go off chain and grab a huge amount of information that is connected to a hash that's on chain and that huge amount of information can be everything from the factory was made by the engineers who worked on it the third-party auditors who were involved how long it's at and a storage container how long did it take to go from the factory to the retail store the original price that it was sold at if it's something that's maintainable like a watch the service record who serviced it all that entire history could be there and you can even do something where that history is actually only provided to the owner so for example you can register your identity connect it to the product at the point of purchase and then your identity gets signed and only you can release that to somebody else so as part of your transaction when you resell goods you do that but then you're entitled to all that information but no one else can see that so what we'd like to do is take from a ten gem card and build a trusted Harvard module that is implantable in the shoes watches and other such things and has strong security guarantees it's tamper resistant so super cheap to manufacture it could be put in a bio-available casing so you can embed it animals for farm track and trace and then it doesn't require external power so there's a lot of work that has to be done for what antenna is needed how much local processing powers needed can we use functional hardware design to use formal methods get strong guarantees that the security properties we care about are there like you can't extract the private key from the system and we may even have the opportunity to add some more capabilities to this chip above and beyond just being a trusted Enclave that's embeddable for example we wrote a paper called one-shot signatures which uses quantum cryptography to create signatures that could only be used once and never reused once they're used there may be a possibility that a standard piece of silicon we could actually emulate this protocol we don't quite fully know yet but there may be that possibility now where this is very useful is then that chip can be put into a USB stick or some other equivalent device and it can be an augment or to stake pools and when they sign a block they sign was a signature that can never actually be reused so it's not even a question of did they erase their key or not or did the trusted Hardware enforce it but the laws of physics you can never reuse that signature and if you're curious about that paper it's one of our 62 papers we published just Google one-shot signatures a Gillespie ocess our chief scientist and you can see that come up it's a great piece of work it came out this year and it's another example of the original science that we do at i/o HK which is incredibly vast and apparently our competitors don't seem to care about Johnny Walker Blue Label Mac it's a dry year set up for those who don't know I do waiting here to dry year I've been doing this for a long time so I'll spend a whole year and I can drink the next year I don't drink and then the year after I drinking so forth so 2020 is a dragger I picked a hell of a drunk year we have a global pandemic and I'm just at home I'm like man be nice to drink some whiskey I like Japanese whiskey and Scottish whiskey really really really love Hibiki it's great stuff and on the Scottish side Glen Reggie Signet is really good Macallan 30 is very good too and also I really like Jameson 18 that's some good stuff it's not that expensive the Jameson stone like a hundred bucks a bottle or something like that rose wow that's expensive looks like a Khalid 30 is like five grand about so you can spend a lot of money on whiskey so there's some great whiskey's out here that are too expensive next year I'll tell you all about this year I'm completely dry since December 26 Charles why did you name your project after cart Don oh is he related to you or what is your connection I have some Medici blood in the family I don't think there's any Cardinal blood card Otto was the ultimate Renaissance guy he was a doctor a lawyer he was a mathematician he was a gambler a complete scoundrel he was the personal physician of the Pope but then excommunicated but still hung out with the Pope even after being excommunicated he was just one of those guys that lived a life that was unbelievably rich wasn't nice wasn't evil he was somewhere in between he basically built out modern probability theory because he wanted to be a better gambler he also inadvertently created the Italian peer review process because at the time he was around most of the scientists and Italy would guard their knowledge and not publish anything because it was a way to maintain employment so how he would get a professorship in an Italian university is you go and present to the students and if they felt you were knowledgeable they'd say yes this person should be part of our system so people didn't want to publish anything because it would ruin their their brand they kept things secret so what Cardinal would do would get people very drunk and learn all of their secrets and he wrote them all down and that he eventually started publishing books about this which was super taboo at the time and including how to affect her quintic polynomial quartic polynomial excuse me so he got that from Tartaglia which means the stutterer so he was a really legendary guy and I think it was even a contemporary DaVinci and I figured it'd be perfect name for a cryptocurrency because the cryptocurrency is not good or bad it's a neutral thing it's brilliant and inspired it's bit of a polymath and everybody has an opinion about it and you'll never get a clear and concise way but it certainly has a huge impact and it's a man of its time I just just really like card on and you know I wanted to have a gender balance in it so I was either gonna name DITA ADA or grace grace for grace hopper the creator of COBOL wonderful woman Admiral grace was in the Navy and she was one of the first female programmers brilliant gal I think she was the discoverer of the computer bug because she found a moth in a computer and called it a bug and she had just had this indomitable personality for being a small gal she even carried these things called nano sticks which is a speed of light in a nanosecond and she'd hand them out to people and say this is why your computers aren't faster and of course he had a Lovelace was the first programmer a female programmer and she was actually the daughter of Lord Byron was one of my favorite poets and ADA was just a little easier to translate pronounce because the ADA programming language now those pictures behind you related to car Donna by any chance no that's a good stuff Clint and that's a Waterhouse painting and broth from long ago Charles please talk about spiral dynamics Theory implemented in Cardno example Africa you know actually we have some people who are in the spiral dynamics community working for me my secretary actually used secretary for some very prominent person in the spiral dynamics community Ken Wilber and there's a lot of great ideas from that community I think we can apply but I'm not a spiral dynamics expert I am reading about them but it'll take me months to talk about it in a formed way so I'll pass on that for now but well we'll get back to it you previously mentioned Algar and as a cryptocurrency project could potentially compete with Cortado what are their cryptocurrency projects out there you see as potential competitors so I think you have to have a test the first test does does the brain of the cryptocurrency so the science behind it the protocol design does that have a decentralized faceless replenishing source because the reality is the challenges we're gonna face in 2050 and 2100 are totally different than the challenges we face today so do you have a mind a collective global decentralized mind that's capable of thinking around these problems and doing so in a way that's resilient and not able to be co-opted by the whims and will of the day-to-day so one of the reasons we've invented ourselves into the academy and made a conscious choice to decentralize that so Tokyo Tech and Athens and Edinburgh and Wyoming all across the whole world and eventually many more is that that's faceless I could die our chief scientist could die other people could disappear but the research goes on and that research doesn't have a particular ethnicity gender or anything about it its global in nature so the first criteria is the brain that designs the protocols to get you to the next generation to resolve the problems of your generation so that's one pillar if you don't have a decentralized brain you're dead the second thing is engineering is the engineering diverse and as the engineering done in a way that's sustainable meaning that there's money and there's opportunity for diversity we have yet to achieve this at the kernel side but post Voltaire that is going to be the major pillar and I think this is one of the strongest USPS that we have so basically this idea is you want to write code and you're good you can be discovered and you can have that opportunity and you can make your livelihood working for the blockchain itself - has achieved this in some respect Zi cash has also achieved this in some respect and at the end of this year we will achieve this as well so it's going to get done so I made sure of it so basically that is the second pillar and every cryptocurrency has to have aetherium will not Vitalik for whatever bizarre reasons walked away from it and so I think a fearing will die because of that one decision any cryptocurrency does not have this will either be relegated to being a single used crypto currency like Bitcoin is a store of value or it will die out because it just can't compete if a cryptocurrency can mint its own money and invest that money into its own development it's a positive feedback loop and over a long arc that cryptocurrency will have so much more resilience and power and diversity than a cryptocurrency funded through volunteerism benefactors or other methods in methodology will never be co-opted able okay the third condition is the actual dynamics the social dynamics of the community itself so it's entirely possible you can have a decentralized brain and very possible you have two centralized funding but then you can have a very toxic community that is very groupthink II cult of personalities a litany of social problems that prevent it from growing to the next level so just because your religion may be the one true religion and have the key to world peace and making society great and so forth if you only have 500 members and because you guys are presented in such a crazy way that you can never get more than 500 members can't get to a billion so you need an open community inclusive community a community that has a high degree of what's called idea flow you have a community that needs a reward merit the community that brings people up it allows people to grow and allows people to actually voice their opinions without fear of retribution or reprisal you need an opinion that can deal effectively with crises and controversy so a crisis occurs a key member dies imprisoned some event comes in and you're able to overcome that it's a Nothing burger like for example the Cardinal foundation failure we overcame that not an issue we move right on didn't destroy our ecosystem the mountain box failure with Bitcoin that's an example but you also need community that's willing to admit it's wrong and willing to Vivat when new ideas come so this is the failure of Bitcoin it's incapable of pivoting it's incapable of addressing new ideas it's very insular in that respect and you need a community that's capable of working with others where well that makes sense the reality is it some day some point will probably work with the etherion community and some day at some point will probably work with the Eostre days those community if it benefits us both mutual aid and we'll do so in a way where it's not like North Korea talking to South Korea it'll do it will so in a way just like Germany talking to France at one time rivals at one time they had some hostilities now no one seems to care and we can work together so you need those three properties you need positive social dynamics that allow you to have high idea flow and inclusivity and the ability to grow and it empowers people to come up from the nothingness and it rewards them accordingly you need to have a really strong funding mechanism that's decentralized and utilize the power of the printing press to get people where they need to go and you need to have a decentralized brain so any cryptocurrency that has all three of those is going to be around in 50 years or a hundred years doesn't need me now I'll grant doesn't have that Tasos doesn't have that although they're getting closer to it and at the moment we don't have that no one has that completely and we're working on it we think a lot about it's why we look at things like Voltaire it's why we look at things like governance that's why we invested three years of time into voting systems this is the true power and long-term maintenance and viability of a cryptocurrency and we're super super important to that okay one more good question maybe two did you choose a virtual conference solution for the Shelly release I had a meeting this week and last week about it we've been talking about it every week we have definitely invested a lot of time into looking for a good solution we found some and were in the final stages of building our way up to getting to a point where we actually have one so we'll probably make it an announcement in a week or two about what vendor we're going to go with I think hubs from Mozilla is pretty interesting but wouldn't be nice to have a VR component make sure there's a lot of interactivity we'd like to be able to do something over a multi-day I'd be super cool to do a hackathon at the same time as well so we're trying to do something where we can innovate a little bit and we're also trying to do something where we could actually have 50 or a hundred thousand people if we wanted to everybody's at home right now you know it's perfect time to do a virtual conference you'll get a lot of attendance and there's just a lot of content that we have to release and so I think we're talking more like 30 or 40 presentations between everybody says a lot to talk about and there's also a media component we'd like to invite journalists so that they can write lots of great articles about it so so we'll talk about it his Plutus fest thing yeah actually if we can do a successful hackathon for our virtual conference what we'll probably do is run two virtual conferences per year a general Cardon au conference and then run a governance conference specifically for these things but then we could also add a third one that is multiple conferences like Plutus fest and run it quarterly and just rotate it from place to place because it's super cheap to do a virtual conference and it's quite easy to do that now thank you pop pop and actually ain't seen nothing yet the the documentation is completely being rewritten for card on oh so card on a dork will possess that documentation and by June we should have really amazing kind of documentation we're working real hard to rewrite that how can we give lifelong learner is accredited and the privileges that should come with that without being tied to name-brand universities I think Coursera udemy Udacity the EDX these types of platforms are the very first step the idea of global credentials and you have to separate knowledge from vocation so we'd used to do this and then it got all screwed up in the 19th century it used to be that the people went to the Academy were the wealthy and they didn't really have to work so they weren't going to the Academy for become get a job in some civil service they were going to the Academy because well they want to learn about rhetoric or logic or physics or something and usually they came from large noble families and so as a consequence that somebody went in the military somebody went to the clergy one person was going to run the family so what the hell do you deal with the with the seventh son or something like that well you throw them into the university is you have no other place to put them so it's a convenient place to put on it then he does something that creates prestige great then somewhere along the way we had this British Empire and we said oh well the civil service needs credentialing so how do we know someone's qualified to be a bureaucrat in this gigantic global bureaucracy that runs the third of the world ah give him a college degree and that's a stamp that they're capable of doing something and so this idea of education as a vocational thing went from I'm gonna train you on the job or there's a trade school to we're actually going to combine the same thing that Nobles go to every day people go to and there was a big shift in the 19th and 20th century towards that end well now employers are saying well this makes no bloody sense at all why the hell do I want to say that just because you went to Williams College and got a degree in Gender Studies you're somehow more qualified to be an entry-level employee in my company then somebody who had six months of intensive vocational training specifically related to the things that I do as an employer also what happens when I have to retrain you do I have to send you for another four-year degree or would I send you to a three-month retraining program so why don't we do the ladder into the former because it's cheaper and faster for all parties involved and people change vocations so much anyway there's no thing there so the people though the counter-argument is well it teaches you how to think and I disagree with that entirely there's not enough philosophy or critical thinking or mathematics education in modern university pedagogy to particularly do that or approves that somebody's disciplined does improve anybody's disciplined at all I'm sorry if people drink their way for four years and you know be a c-minus student get through there's nothing or grows a person up it's like come on guys let's let's be real here so I think modern pedagogy has changed modern education has changed to a point where university degrees are irrelevant and they're unnecessary if your goal is to get a job and vocational training is now pivoting more towards topical and nanodegrees like what you'd acid he's pushing and what Coursera is pushing and a lot more is going into the cloud and going online and there's a lot of accelerated programs my brother for example he graduated from Metro State in psychology and the sunny want to be a nurse and so he went to a BS RN program that was one year at Regis a very accelerated program bachelors in nursing in one year and he finished that it was a nurse for a while then it became a doctor so I think more of that is going to happen where we have rapid retraining programs that compress a lot of information and they demonstrate the candidate can do that and there's a vocational component where there's on-the-job training to finish out the the loop so the good news is that this information especially if it's online is getting cheaper and cheaper cheaper to distribute it's kind of weird that academics inflate like 10 percent per year tuition keeps going up despite the fact that technology should make the cost of delivering education go way down that's because of student loans the people who buy the product are insulated from the cost of it the same for medicine in America for the most part and as a consequence the provider of it can just artificially inflate the prices way way high the consumer actually had to pay the sticker price one eighteen year old could afford a two hundred thousand dollar tuition that just simply wouldn't so those universities would have no enrollment so they would have no customers to pay them and therefore they would either have to lower their prices or go out of business but they're subsidized by the Pell Grant and still own system that we have so I and given that we have a trillion dollars in student loan debt that can't be discharged even through bankruptcy it's got to come to a crisis at some point and I think there's going to be a splitting of the vocational side from the actual academic side and we're going to probably see a lot of universities go out of business or have to retool themselves that's ultimately a good thing these institutions have become tremendously pure crack you have become very administrator heavy it's difficult to deal with them even when you're trying to give them like an amazing deal that helps them grow decisions are made in a very slow way then even though they're slow they're not good decisions they're not methodical thought-out decisions and also you look at key metrics if your job is to be vocational then you should track the people who have graduated where their jobs are at and if 50% or 60% of your graduates official and Social Sciences are not getting good jobs or any jobs and of the jumps are getting their salaries are lower than $35,000 a year you really have to question was there any value for them doing that it's all they learned it's like well yeah anybody can learn I can go online and I can get anything I want there so why why are you getting value out of this process I'm sorry there are many many other ways that people cut it join the National Guard there's plenty of ways to cut that but lifelong learners have more resources available to them today than they've ever had before the great courses Coursera there's so many MOOCs flying around I know a lot of you say well a lot of people don't finish MOOCs well yeah because they don't usually have to pay for them and also there's no pressure social pressure financial pressure external pressure to finish but the fact that they can sample these things and even if 1% of people are taking and finishing them that's still when you factor all the numbers tens if not hundreds of thousands of people consistently studying advanced topics like for example the Santa Fe Institute's complexity Explorer Santa Fe is the world's predominant it's the world's pre-eminent of academic body for complexity theory to be able to study there in learning complexity theory from them is a privilege of a lifetime that only a few people get to have yet somehow I can just go to the website take courses from them for free that's just that's just amazing and lifelong learners have that opportunity and it's super cool to see it and I've been exposed to a lot of cool ideas as a consequence of that how's my brother doing during kovat 19 I think that his hospital has won Kovac patient or they may be self isolating at home Gillette's pretty small they're certainly worried about it up there and they've managed to get themselves enough personal protective equipment that they should be okay they have proper quarantine protocols they have proper treatment protocols ready to go I just really hope that they don't get hit too hard until April because then at least they'll have some good therapeutics to treat people who are impacted prom with Gillette is the large group of the population is older they worked in coal mines they smoked they lived a very hard life and that's the exact demographic that if they can track OVA dies from kovat so these are patients who are gonna get very very sick very quickly and unfortunately he's gonna be right in the middle all that and we all have Wars to fight I fight financial worth he fights medical Wars friends in the family fought actual Wars and these wars are tough and so I hope he's okay that's cool to hear that you're gonna write your bachelor's thesis soon on decentralized app using IP FS in Cardinal well please playground is getting a big upgrade here in a bit so hopefully you'll be able to write some code on that let us know all right well anyway it's about 11:30 at night guys this has been a heck of a lot of fun as I mentioned before a lot of good announcements coming stay tuned for the 31st that's going to be a big big day Aparna is gonna have a lot of fun live event y'all gonna learn a lot about where we're going biron me beauty's imminent and it's gonna be super exciting to hear a part announce that so look for that and Shelly Haskell test that's not too far off and that's going to be again two phases one for state co-operators they roll over from the ITN and then there's the balance check to verify that your rewards that you earned on the ITN are ported over properly and once we've gone through those two check marks we should be ready to go for Shelly main net we rewrote our listing libraries and a lot of exchanges super excited and very excited about the things we've done on the wallet back in April is really our time to shine for that and so every week releases are coming so thanks guys for listening and until next time talk to you soon
