The Future of Payments Will Be Funny

Transcript

Hi everybody. Uh I'm Leona from InMax and yeah I'm originally from Japan. I'm really happy to present here uh because I was uh living in Kod for five years. uh North Oaga is one of the my favorite city and today I want to talk about the future of payment and I think that future payment will be very funny and it's not it's not like a online payment uh today's world it's like more AIdriven uh UI and more AIdriven uh advertisement and this is a what is actually happening

uh in our industry and also in advertisement industry and that's the reason why I want to talk about this a bit and I want to I really you know glad to talk about this uh because it's about something new and I we launched the mainet last uh June uh end of the no last June and before that I cannot talk about so many new stuffs because people push me to talk about mainet and also you know uh this is the situation and it's has changed a bit. So let's start from the no yeah to to foresee the future of payments let's

start from the history of payment and money. So money started from being stones and shells. No. And the it's quite fakeable one of course. And the it's too fakeable. It's too printable. It became metal uh like gold and silver and yeah it's actually it works well today's world as well. Right. So know because alchimedes know found that know they can measure the purity of the metal uh especially gold uh know by measuring the know volume and also the weight right and after that uh maybe was like 13th century uh it money became paper

bill and paper bill thought to be crazy how when it started uh it's like no It's seems very fakeable but the strong army uh happened in Mongorian uh empire they they killed all the fakers so they it it worked well and it's been a while we are using paper as well right and electric record I became electric record of course and it's what we are using by we with with credit card and also you know payment application and of course uh online banking as Well, and this became finally cryptography and mass and

today's world we can see that money made of mass and cryptography and this is quite romantic for me and I the reason why I'm standing here. So after this what will happen right? So the money uh the form of the money made by cryptography uh how will it be used uh no in the future and now so basically the payment will change a lot and it's because of our automatic and the AIdriven society and people Um

before this error people could pay and after this error no machine can pay of course and the it has enough ability to pay something new right and so what is the the best payment system for AIdriven society and what actually happens in AIdriven society or AI agent driven society. So basically there's a many doubts right and basically crypto people connects everything to to blockchain. So people might think that uh why do we need crypto for that? Why don't we use credit cards uh for the AI agent payment and why do we need AI agent payments you

know it's is human job you know it might be possible people say that okay so it's quite simple question how many bank accounts do you have so do is there any guy here no having more than 10 bank accounts no for your individual maybe zero right maybe maximum five or you know something like that right and I have three accounts and how many devices and AI chats uh no chat thread do you have so devices like know the phone and no laptop and no Raspberry Pi no what whatever you come up with uh

maybe you have 10 or 20 devices uh which is uh which has embedded uh uh CPU and also you have many many charts with AI right so actually we have so many purposes uh for each device right and how many crypto address do you have so maybe some people say that it's like one or two some people might see that uh may say that it's like thousand because you know is uh farming or airrop hunting or something like that, right? And so why do we have so many addresses like

hundreds or thousands? Because we have many many purposes. So basically we use uh crypto address for each purpose and we blanch the address for each purpose. Right? So basically we have many many purpose but we have limited number of bank accounts and credit cards. So this is the reason why the current architecture of credit card it's not for the this kind of error with many many devices and many many AI agents.

So let's say if we uh if credit company uh change their mind or bank accounts uh bank system uh architect change their minds uh to adapt to the new era it might be possible we can see another presentation right but basically at least we don't have that right now and the crypto is quite cut off for that. So we can come up with many many programmable architectures uh for the know uh the security system in age of no trillion devices like so each people

each person has 20 devices and the many many agents and we need to come up with new idea to not to share uh one account uh among many devices you know that so if I have 100 devices here and I want to let them pay for something uh pay for their automonous uh activity they cannot uh they cannot uh you know go they can go without sharing account right so if I have a know 100 devices

and know AI agents here and they I if I have a only one uh credit uh card or only one uh bank account they need to share but it makes a lot of security problem and that's the reason why we need to come up with a new architecture to adopt opalite many many devices and the in terms of using many many devices we need to come up with more like zer trust architecture and the zer trust architect architecture. It's more closer to the uh basically it really uh cut down for uh ages uh with many many devices. So

they don't have to share about their key for one place of course and at the same time we neither operate this one with the cryptography and of course the offline pair to uh pair payment or pair to machine payments uh we need a proof of payment uh when they finalize their payments. So there are many many places like uh know they have a economy uh without uh you know uh internet uh or their stable connection internet and we can adapt this payment system for that and even if we have our many devices we need to

operate that correctly with uh internet connection we we need to make sure the all the payment all the activity uh should be done without the internet and the actual cryptography based payment system is quite cut off for that. So one is that advertisement uh is forming today's payment system as well and the advertise uh advertising system it's more right now human based of course and we buy many stuffs from the internet advertisement directly or indirectly.

So sometimes we see the ads and the buy that and buy some stuff right and the another on the other hands in another case uh we you know see the ad on the internet and after that a bit brainwashed to buy that and so this is basically affecting human mind and cut off for that but how about the odd uh in the AI AI errors in AI AI errors It might be possible that we ex know we tell our preference to agents and the agents uh search for that and the buy stuff from there.

So ads will change uh based on this idea. So we tell many information on the our preference to AI agent. AI agent will match to the items uh shopping items to buy based on that those information then we will see that all the advertisement will be transformed uh to be cut out for the uh no being bought by uh agents. So shopping agents uh is the most realistic idea uh to

to use our AI agents. uh we can see that AI agent can make a lot of kind of historic scientific or no achievement and the AI agent can d drive the no spaceship card or what whatever we come up with but basically the one step from here it's like AI agent will have a aity to buy something based on the people's preference it's quite realistic and the it's actually we have some services uh know already built with this idea uh without the know people knowing that. So there should be a programmable budget on the agents uh

for this uh type new type of the uh economic uh no economic activities uh happening right now and also why uh M2M payments uh is needed crossborder transfer. So crypto is basically very very good at uh crossborder transfer and the cross border transfer will be like uh no I if I want to pay you uh maybe some of you guys know came from another continent for example and I if I want to send money to you guys sometimes it doesn't work especially if I went to

Nigeria uh last year I have no method to send money to my uh colleagues uh living in Nigeria and but crypto is just no face to face and they airdrop their address and they send money directly right so banking system takes three days to figure out uh how to send money and at the same time crypto we can uh we can go uh anything without any problem uh about these payments So to have this kind of collaboration uh or this kind of uh economic activity uh we prefer crypto time. So M2M how

crossborder payment how it's needed simply because we need needed the this for the opportunities and the opportunities like so it's we already had the same problem 30 years ago uh I was a child so I don't uh see that by uh I uh but we can see that uh many many records and the logs uh discussion log uh people are talking about why do we need uh internet globally instead of separated to to to many uh countries for example Russia has its own internet and the America has own internet and why

don't we separate internet like the way uh there's many many know discussion about that and basically today's words people prefer the payment uh sorry uh website access totally ignoring borders, right? So we if we know connect to the know some websites or apps we don't care which is located but the we need to think about the reason why it's happening simply because in about the information people wanted opportunities uh to the access to the other uh for information and at the same time why do we limit our no payment

system uh to each district uh judication or something like that. So basically based on the opportunity uh just like say just same as uh in 1990s uh we need to have our payment system totally going uh beyond the border uh to to have our full opportunities for the no accessores. So let's imagine that know we have some know we want to operate some uh no business in Texas for example uh in the near future the totally uh know limited number of AI agent can operate some stuff there right and we

can ask the AI agent from here Japan or I'm living in Switzerland so I maybe I can order that from Switzerland right so how do we uh how about who access to the know AI agent economic activities we need to make sure that the all the payment uh will be uh should be expectable uh to be successful or fail uh before it happens. So because of this opportunity stuff, we need a no uh crypto which is totally self-s sovereign uh to each uh account you have or owners have and yeah that's the

meaning of the know payments to the AI agents and stateless L2. So basically we can come up with a payment system totally cut out for the no this type of uh payments which is which has a more frequently uh happening no transactions. So if we if you allow some automatic system not limited to AI agent they have uh make they will make more transactions than uh individual of course and what is their payment system or what is the blockchain uh which is

totally cut out for payments uh sorry uh the scalable payments. So we need a statelessness here because statelessness and the statelessness and statefulness have tradeoff. So statelessness has more limited functionality but it has extreme scalability and also full privacy and it's more easy to decentralize and actually 99.9% of blockchain today they are stateful and no Solana stateful of course and no a bit optimism of course itself is

statesful and the statefulness has more functionality like EVM compatibility or SVM compatibility or something like that. But basically we need our know blockchain or trustless payment system totally cut out for the this kind of scalable payments. So right now in max is one of the stateless payments uh systems and we it's only consumed 0.08 08 bytes uh per transfer on chain. So it's less than one bit and so it's almost making a Guinness record of the onchain consumption uh of the payment and it has full privacy and it's quite

it has quite limited functionality but it's yeah no typical tradeoff of stateless and statefulness. So if I know describe hintax there's many way to describe actually and the plasma plus recursive zk know this is forians and the in bitcoiner context it's like rgp plus mina plus zolola is something difficult but it's works for bitcoiners I guess and we can say that these are high tps at tornado cash or in the bitcoin l3 context it's just same as shvb because they quoted That's our paper and yeah

to to shorten the explanation of the mechanism of max is super actually super simple all the UTXO all the asset it described in the form of macro tree and the micro tree uh sorry micro proof and the macro proof distributed to the client side and the client side have a full kind of validation of the all the history of the UTXO but if we go this directly it it will be quite inefficient of course so we apply ZKP for this and of course it's a chain of ZKP the UTXO itself has a marker proof and at the same time ZP of

the uh kind of packing balance and we will send this to another person they will make another ZP and if you If he sends to another person, he makes another ZKP. It's a chain of ZKP uh ZKP inside of ZKP. And once you verify the previous ZKP, you can verify the entire history of ZKP at the same time. So yeah, because N minus one already proven N minus two and it reaches zero, right? And so this is extremely efficient way to verify the all the history of UTXO and in inmax it happens in each device maybe in your laptop or on your mobile

phone or it works everywhere. So it's almost unlimited number no infinite number of the parallelization and it's this is making efficiency of impacts. So thank you so much and the please visit our website to join our privacy mining on the payment system on the payment SDK which is already uh cut out for uh agents uh adoption. So thank you so much. Thank you very much.