Token Maximalism

Transcript

again selfish heaven establish the thesis that social networks which are so large and immature society the deputy goods our destruction as open source to the networks and not as corporations are actually database participate additionally in the entire system is open and transparent to be inspected and verified by anyone this is important because the results distrust of the system establishes trust that the system undeniably buys it seven

days and the consensus about the information in the database establishes trust in an unquestionable truth and to give a sense of how important Trust is for our society the 35 who said the u.s. employment is to establish trust and Chinese law enforcement years except them if you ever separate that to global GDP you imagine how much trust in Sudan a

strong that the regulation in the person of the supply chain working that the regulations and enforcement of the extenders of the restaurant on place and included beyond superseding remember how badly fuse go and trust in the financial system breaks down man the most economy is on the vintage collapse and you can see how things when trust in a government backs down as we witnessed in Venezuela open into it now because trust the site when you present intangible and the feature abduction distrust their simulated limited and openness and applying bottle energy to number of different industries which also means there's a lot of confusion because notice that blockchain use a lot

of different things to a lot of different people in the following slides I learned a few of the scenes in crypto and I'm going to admit us gets afterwards little APIs where public good token networks seem to be and both well the code is less effective doses is a trivial examples do keep in mind ads and investments of hours the value of money is based on trust and since we know assistance I can Khalid trust they can create money and talk about these types of money are not available and connected internet value means that we can incentives can have the energy business

innovations initiative history was another deniability operation which we defined incentives so when they saw the business I now you use a whisk to my investment only and angry customers can take capacity and that summer changing incentives change how the world works the dominant Sarah most organization today is a limited liability and so now we can pull the incentives and definite desired behavior into a network this site also because it has a neighbors the biggest business model innovation some networks since the beginning of the limited liability corporation and we actually change where the incentive structure and the financial company is fundamentally flawed for example their

main goal is to charge me as much as possible say that the passenger is much as possible the driver as possible detail business stakeholders are directly post this is the fireline control and I'll

try to continue it is the noise and alarms keep going so in contrast establish a non-profit foundation instead of the Apostle company and access to use of the network as a customer as a supplier which is such a source of investable and tradable asset so the values in that work is shared indirectly with all stakeholders instead of value strategies that position only disaffected few on years of company shares and dismissed amanda has a potential to be better than free because a token I'd appreciate in value so the man shall be virginity the networking

pieces so I just said I'm sorry about that so websites with this side just add some contrast companies descriptive networks established a non-profit foundation instead of a circle company access to the use of the network as a customer or the right to read as a supplier

represented in addition taken which itself is s on the best of them tradable asset so the value of the network the shed indirectly with all stakeholders instead of value strategies that benefit only the selected team and those of company shares this is potentially better than free because it's open my officiating value which they demand so the utility of the network increases and gangully rights and that's our sovereignty event decisions that could have serious consequences for the stakeholders so it's about emphasizing that these public good of the networks are not companies and we actually have statements from the SEC and other regulatory agencies and they understand

and acknowledge this concept of decentralized networks so it's not just about talking here this allows to have proprietary asset in fact in order to create the required trusts for the network the acid slash code base actually needs to be open source transparent and then also means that it is building once and we used by thousands because and this is resources so without the Chinese recipe fine

the merciless education ecosystem with museum transaction costs open source financial instruments and intermediaries the sentencing system extremely keen to add value it's an example of the explosive deaths news networks can have applications are decentralized central bank and let's to print the same inform from your quad comparatives is a money market and future swab which is a teacher's exchange again these are open source and that's a trusted the de minimis few students that indirectly financed by utility tokens defy even have the solution insurance which allows you to make homer against evangelist at

the bottom that reporter calls next feature is also open source University Network web she's entirely to the participants in the other children many times I had to stab you in the back chain and claim assessment and pads also be able stop everyone to inspect another aviation sector is tighten up three so decentralisation is not just a password as well it's a means to event security and sovereignty such as media and becoming evident very large-scale social networks of such high pendant importance that depend the goods the classical great event regulation is a suti anymore this is two reasons one the complexity complexity they can

handle you can see say something an exercise some exercise some days series of mistakes are bound to happen and to incentives in fed that's a company ultimately this one society the cheapest things and high space and the purpose way and in the specification board they tried to be a mess to the market by outsourcing the pesantren personality to temporary members as a cost-cutting technique which is directly attributed to the failure crashes no specification that three enables the marketplaces to the plasmatic service providers like AWS and next instead of a company in that resource she must employ eliminates the supplies

competing and data storage resources that is very exciting that this is the perfect competition and elimination and this today face anytime and this is a storage and computing providers

internet resource cloud personal relations connected to be up to seven times cheaper than the rest again I'm estimating reality to be beyond our expectations if suppose a minute mr. foster an ecosystem mists that is an supply-side innovation as a controller of workmen another interesting sector is engines it is estimated that the sort of social tasks of payments are 2 percent of u.s. GDP which is how to train those yet in America I know and that's because the credit card networks Raj I did it two times you study of a lesson different parties transaction you see the point out here that site Penn Square - based

on oil companies actually only one of those 11 parties and this is what it looks like well flex up into many ways by reducing the costs on the sale payments down at 1% when next a payment to the virtual and the mention that we animatron Texas em approach their e-commerce payments in Asia when abduction technologies used to display the cost on the 10 basis points for the cup of compare and X day settlement it's already one of the most news factions in the distance we have a number two real users in over six hundred twenty nine dollars of transaction value in eight months so as you can see doctor is a

simple technology but with profound implications for many different industries and talk about complexity it is sa financial system estimated to be three times house 25 times faster than the latest international system with a volatility that makes a natural gas they trade ageism so how do you navigate this space as investor the simple it some pieces that would give us accessibility tuning space Vanessa strong conviction when the market stability turned against us and the best way to some nice analysis is that work alchemist analysts we just have a hard time seeing how special companies allowing to compete with open source coconut barracks and

the short radical that is imaginable the diverse set of state workers you can see the currently the regulator's that

they need and States them the second day notes that little point I was actually surprised how many politicians are listed the difference between the recent rise in that legs like that so I'm sure there's some good points supporting our pieces that the network's intercellular a janitor society that their sensors have been goods a better structure that we source open networks where the incentives they lied this is fantastic corporations that expect that evaluation a selected few and ultimately is not in the company versus customer and to pilot thank you very much [Applause]