Encrypted dApps on Ethereum Using Secure Enclaves

Transcript

very good afternoon uh to everybody who has uh joined uh me and all the builders here in Vietnam today and it's a pleasure to be back in Vietnam after after a year it was your last time uh somewhere in August September for E Vietnam and today I see a huge potential uh in Vietnam and I strongly believe in the builders in Vietnam the reason being the number of people Builders and participants have significantly incre inreased and I'm pretty sure that uh a lot of people are going to place a lot of bets uh on the potential of builders in vetnam and uh excited to talk about a very interesting concept uh to you guys

today uh so a quick introduction about me I'm Jin and uh I'm one of the developer relations engineer at 10 protocol so 10 protocol is uh uh Layer Two on ethereum that offers encryption okay now that sounds a lot of uh technical jargons for you and if there is any non-technical people person sitting here then I'm going to make it simple for you and help you understand why it matters to you okay so I'm going to share with you some metrics so that I make you aware of the problem and then sell the solution to you so typical uh pitch so uh right now ethereum processes around 1.3 million transactions per day

I'm just talking about ethereum there are so many chains out there so many new layer tws and now probably layer 3es are going to come every day and just I'm talking about the transactions of one single chain so you can see the inflow of activity and users on one single chain so much things are happening on a chain and next doesn't work sorry guys take it this this is left this is right okay

no yeah sorry for the interruption one another metric that I want to show with you guys is around 59 90k daily active users on ethereum just imagine how big the platform is that it has 590k daily active users okay and next 53 million plus smart contracts if you don't know what smart contract is I don't think so anybody doesn't know but just a quick primer smart contract is nothing but the logic or the program behind running an application on blockchain so 53 million plus Logics or program of different applications from different verticals and use cases on one single

chain next 4,000 plus contracts and thousands and thousand gigabytes of user data my yours and everybody around the world the data is on ethereum okay and year on your web3 has been seeing 80% growth so all this indicates to one thing that lot of activities a lot of activity has been happening on ethereum lot of people are joining it a huge growth is happening and I believe the numbers are going to go up 2x 3x but but like uh the missing seats here

there's a missing void or a big void or a missing place in ethereum a gap in ethereum which will slowly reduce the adoption rate and also stop you from innovating and what is that anybody here can can say what is the problem right now that ethereum has I don't want the usual answers the usual answers that I get I've added that to the slide that is security scalability decentralization that's so 2020 is nobody talks talks about that because we have so many chains out there

solving one of this problem I'm not here to talk about this I'm I'm here to talk about something very crucial something super important which you all are used to your phones have your browsers have your devices have everything has this technology but only web3 doesn't have what's that any guesses sorry that's true I I I I agree that in the name of web we have uh shoved a lot of complexity into the daps and the user experience have we we have spoiled it but there are a lot of projects working towards improving it and we are very close to that but very few people or projects have started

thinking about the problem that I'm going to talk about it's not usability I have uh in my previous project I worked on usability and I see a lot of growth in that direction but not this one so that is encryption ethereum doesn't have encryption all the million and billion and trillion chains out there and the copies of them that are coming out none of them has encryption and what is the problem with that your data that you put on ethereum or you do some transaction you do some activity everything is public you buy some tokens you buy nfts you buy some assets you interact with a game right

now uh uh some some speakers we're talking about games the problem with running games on chain or ethereum you know what it is I can see what the move what is the move that you made and I can make an informed guess why because ethereum is transparent and you still doubt me then I'm going to show you a simple platform that has been used to uh do that and and that actually allows you to decipher user data activity footprint everything on blockchain in minutes and that actually is I think they forgot the slides okay so that is called as EOS scan it's a block Explorer so if you can go to a

block Explorer type in your address or contract address or transaction hash you can figure out what is my activity in the entire span from the beginning of my interaction on blockchain till this moment I can see what I have bought what I have sold where I am what are my interests what NF do I like to buy what tokens do I like to buy when do I sell what kind of a Trader I am what games I play what moves I make every basically I have all the data to profile you and Target you which web2 doesn't allow because web2 has got a simple mechanism called as https the paralog sign that you see when you type a URL but web3 doesn't have

that the problem is anybody not a man in the middle but anybody out there can profile file you targets you misuse your data so this is the biggest problem and what we need we need encryption and what does encryption provide you encryption gives you privacy and what that means what games you play nobody comes to know about that what moves you make in a game nobody comes to know that what trades you do nobody comes to know that you could actually build web like applications just imagine can you build a grab because I just got a grab ride to here to come here can you build a grab on

blockchain you can't build that because I can see from where which hotle or which apartment you took a right to your and I can come to your home that's so scary because blockchain is transparent I can see what you what did you order for yesterday's dinner I ordered a sweet soup yesterday and trust me nobody knows that I ordered it except for gojek and grab guys why because it's web to and it's private but if you build that on blockchain it would be public I can just go to the grab or go smart contract address on EOS scan figure out what you have ordered yesterday for dinner and I can understand your interest so that's so scary and just imagine what if you could build what about health insurances you

cannot build Health insurances or Medical Care Systems on blockchain because of lack of encryption and privacy because you ailments your diseases your medical conditions would become public and I don't think so you want it to be public okay but that can be solved with encryption and encryption would mean that you get privacy Your Health Data your personal data your location your address your transactions everything stays private until you decide to make it public and I believe we are here to give back control to users in the name of decentralization not snatch it okay so we need privacy but we don't need 100% privacy we need

programmable privacy if you haven't heard about this concept this is programable privacy and pro programmable privacy means you have the flexibility to choose what you can keep private and what you can keep public just imagine I have a profile on blockchain I can keep my name public but my age private do you have that flexibility at this moment on blockchain no whatever data you put on blockchain is public or few chains out there have provided privacy but it's 100% private and that can be misused for a lot of fraudulent activities so for that the solution that we need is programable privacy which allows you to have controls like the people sitting there have on the audio turn down my

treble increase my base increase the pitch or decrease the pitch you need to have fine grain control over your data activity interaction on blockchain and that can be achieved using programmable privacy and I don't want any entity to say that something should be 100% private or 100% transparency it is the it is you users who should have the flexibility or the freedom to choose what needs to be private and transparent and all this can be possible using a technology that I'm pretty sure none of you would have heard about and that is called as teas not the te's that you wear or the swags swag te's that you get from E Vietnam team they are awesome but I'm talking about and other awesome

te's called as trusted execution environment and trust me everybody actually has a te in their pockets how you know your iPhones and smartphones have got T's and how do you like how are te's used te's are used to store your passwords and credential in your smartphones and your laptops okay so this is a hardware this is a piece of technology that you already have been using but you are not aware of Blu-ray Blu-ray movies if you have ever watched a Blu-ray movie on a Blu-ray player that uses te's okay so a lot of Technology already uses te's so what is the goodness about te's te's are like a black box like a box like this but not colorful black and you put

whatever you want to put in it inside it nobody else other than you could see it whatever you want to operate or uh do on it you do it inside the Box you just get the output nobody else get to know about what happened what's the data that's a beauty it's like a back black box it's like your secret bedroom nobody gets to know what fun you do in that so trusted execution environment is exactly like that okay so you can confidently put a lot of data inside that get whatever the work you want to do inside it and get the output and what is the goodness about it the exact same thing that uh my fellow friend here told about usability te's allow you to add

encryption and privacy and all this features without spiling the user experience because I know a lot of new technology comes and they shove in new language they bring in new uh Library they bring in new SDK and the entire developer and user experience is spoiled and I'll be scratching my head overnight what can I do with this code I'm not able to figure out I have to spend six months to learn it but tees allow you to do the exact same thing that you're doing on ethereum without any new language any new library no new SDK no new framework exact good old solidity the same set of tools and you get one extra feature and for no extra cost because the affordability stays the same because it's a layer to okay and what you could build because I told you all

of this possibilities and problems now you are aware that a lot of things are happening in blockchain there's a huge gap which can be solved with encryption but what is the use of it because if because if you don't understand what is the end benefit for an user then there is no point of me pitching here right what are the end users benefits you could actually build a defi application that is me free if you know what is me me is a maximum extractable value in the past it was known as minimal extractable value what it allows you is somebody else can see in see inside the mempool and figure out what trades you have made and do a front running and there you lose a lot of money it is because of unnecessary transparency why should

somebody else know that what order I have placed so not needed because when they see that they use that to do front running and make a better trade and make profits out of that and that is a billion dollar business in Twitter if you just search me you will see a lot of people doing meev Bots meev activity but you could finally solve that a negative M using trusted execution environment other thing uh my fellow speakers uh sitting here we're talking about games have you seen any good game except for axi Infinity and few of them in web3 one one of the things being bad usability that he told about the other thing being that uh things can't be made

fully on chain because if you try to make a logic on chain I can go and see what is the logic and uh follow that steps to get into the next level or win it just imagine if I am uh one of the spow fellow speakers were uh talking about secure random number generation just imagine if you build a lottery game and if it's on chain you can see what is the lottery number and and you can misuse that or if you want to G want to build a guessing game I can see what is the number that has to be guessed because it's transparent and I can make that guess and I can win it that is the problem so you could finally build fully onchain games where your uh logic your game logic and entire the entire game

logic would be onchain private and nobody would be able to access it you can have games with nfts assets skins that are privates and only accessible after completing certain levels or requirement and finally institutions would be able to get into web 3 through institutional trading because institutions don't want that they have made billion dollar trade or a deal with somebody else they want to keep it private that's business it's my business let me just take care of my business don't book your nosen so you could finally have institutional trading in web3 because of this encryption which allows you to keep your institutional trade or deals private from

public dark poool trading private liquidity pools confidential Health Systems e-commerce grab gojek food delivery applications insurance applications Games Social streaming services and subscription Based Services all can be built finely on blockchain with this encryption so that that is what is the scenario of web 3 and ethereum and that is the solution and you can get started by building I work for one of the projects which uh offers encryption and we are one of the first ones who are doing this without spoiling

The Experience so the same user usability for both developers and users and you could buy finally build all the solutions so if something was stopping you from building web3 and AD option then this is the time that you look at it and uh it's very simple if you want to get started then before that before you want to get started there might be questions about compliance because whenever you do something really good uh there is a problem of fraud inactivity and you need compliance and regulations you need to follow that you can't always be the bad boy okay so what about compliance so we have got a very novel mechanism called as data Revolution which we introduced

which allows you to program that when a certain private data should be made public you as a developer can choose that or the da can vote to make certain data public just imagine a very bad situation happens with a defi app somebody did a very messy thing and that activity should be made public so that relevant authorities can take action but you can't do that on a traditional chain uh if it has privacy the then that is when we introduce data Revelation so that the Dao can vote and make that particular incident or data public so that that can finally be audited and the criminal activity can be found out

figured out and the entity behind that can be punished so that is privacy and all the goodness without getting punished without getting the good guys punished and the bad guys getting punished so that is encryption privacy confidentiality with compliance with good usability with freedom with flexibility where do you get this somewhere else nowhere else you can get all of this uh on a te based projects uh so one of the project is 10 that you can see on the top there is a very slight white logo 10 so that is the project that I work for and uh we offered encryption so if you plan to build any

of the solutions like a grab or gek for Vietnam on blockchain the that is it please go and check this out and that is my QR code you can check my profile or if you wish to get started uh with development you can go and check uh the tweets and the resources and the things I've been talking about the research that we have been doing in development we have been doing okay so thank you thank you once again for uh be patient being patient and hearing all this uh things whether it's good or rubbish and uh I hope that I might have sparked a little bit of curiosity in you about what is missing in the space and how can that be fixed thank you once again have

a very very good day thank you Mr Chin [Music]