0:00:04.580,0:00:07.020
I think non-financial use cases of

0:00:07.020,0:00:08.880
blockchain are just emerging the biggest

0:00:08.880,0:00:11.040
such application currently are nfts or

0:00:11.040,0:00:13.200
non-fungible tokens which represent

0:00:13.200,0:00:15.420
unique assets things like Collectibles

0:00:15.420,0:00:17.940
primarily today but there's been an

0:00:17.940,0:00:20.039
explosion of representing other types of

0:00:20.039,0:00:22.140
assets things like carbon credits real

0:00:22.140,0:00:24.180
estate Securities and those kinds of

0:00:24.180,0:00:25.980
things fundamentally you can think of

0:00:25.980,0:00:29.760
blockchain as creating more efficient

0:00:29.760,0:00:33.360
usage or exchanges in almost any Arena

0:00:33.360,0:00:35.760
one way to use blockchain is to track

0:00:35.760,0:00:38.579
energy and and how it's used throughout

0:00:38.579,0:00:41.160
a grid and being able to then help

0:00:41.160,0:00:43.500
people figure out how to use it much

0:00:43.500,0:00:45.239
more efficiently

0:00:45.239,0:00:47.879
any time where there's like a contract

0:00:47.879,0:00:50.340
the participants they need some level of

0:00:50.340,0:00:51.660
trust right and usually we bring in

0:00:51.660,0:00:52.920
lawyers to do that and it's great

0:00:52.920,0:00:54.539
lawyers are an awesome solution to that

0:00:54.539,0:00:55.920
they're also an expensive solution to

0:00:55.920,0:00:57.960
that blockchains can create situations

0:00:57.960,0:00:59.399
they can't solve every problem but they

0:00:59.399,0:01:01.379
can create situations where we don't

0:01:01.379,0:01:03.180
necessarily need a lawyer to be involved

0:01:03.180,0:01:05.339
because things that the lawyer would

0:01:05.339,0:01:06.900
take care of can happen on the

0:01:06.900,0:01:08.580
blockchain in a way that everyone can

0:01:08.580,0:01:10.619
trust currently when we upload photos or

0:01:10.619,0:01:12.299
videos we don't actually have ownership

0:01:12.299,0:01:14.340
over that data so there's a huge

0:01:14.340,0:01:15.900
opportunity in terms of how do we

0:01:15.900,0:01:17.580
communicate with people that we love but

0:01:17.580,0:01:20.580
also how do we create online

0:01:20.580,0:01:22.680
what excites me most about blockchain is

0:01:22.680,0:01:25.020
the opportunity to deal with the wealth

0:01:25.020,0:01:27.180
Gap blockchain enables opportunity

0:01:27.180,0:01:29.340
because in this space we get to

0:01:29.340,0:01:31.740
de-identify ourselves and now I'm able

0:01:31.740,0:01:34.380
to interact with people anonymously or

0:01:34.380,0:01:36.780
pseudo anonymously with just as a series

0:01:36.780,0:01:39.240
of numbers my public key and I can

0:01:39.240,0:01:41.939
participate in any type of use cases

0:01:41.939,0:01:44.040
that I want without having that

0:01:44.040,0:01:46.320
regulation preventing me simply because

0:01:46.320,0:01:48.960
you know I'm of a particular demographic

0:01:48.960,0:01:51.659
or a particular gender My Hope for the

0:01:51.659,0:01:54.720
future of blockchain is that we find

0:01:54.720,0:01:58.140
ways to solve problems that we haven't

0:01:58.140,0:01:59.700
been very good at solving Financial

0:01:59.700,0:02:02.280
inclusions an obvious one blockchain

0:02:02.280,0:02:05.460
technology either by itself will solve

0:02:05.460,0:02:08.819
this problem or it will push governments

0:02:08.819,0:02:12.780
to put in more sensible regulation to

0:02:12.780,0:02:15.840
have more sensible policies on access

0:02:15.840,0:02:18.480
that'll solve the problem the thing that

0:02:18.480,0:02:19.500
keeps me up at night that I'm really

0:02:19.500,0:02:21.480
worried about is that we will wind up

0:02:21.480,0:02:23.459
whether accidentally or deliberately

0:02:23.459,0:02:26.099
rebuilding the same biases that we have

0:02:26.099,0:02:27.660
in our existing system

0:02:27.660,0:02:29.840
foreign

0:02:31.400,0:02:33.420
there definitely are environmental

0:02:33.420,0:02:35.160
impacts when it comes to blockchain

0:02:35.160,0:02:37.800
technology with Bitcoin it's proof of

0:02:37.800,0:02:39.780
work and proof of work requires energy

0:02:39.780,0:02:41.940
consumption but the value that Bitcoin

0:02:41.940,0:02:43.800
brings is much higher than that energy

0:02:43.800,0:02:46.379
consumption the environmental impacts

0:02:46.379,0:02:49.500
are disastrous in the case of the proof

0:02:49.500,0:02:52.019
of work Technologies that's Bitcoin as

0:02:52.019,0:02:53.879
an example so proof of stake is another

0:02:53.879,0:02:56.340
form of consensus system we have

0:02:56.340,0:02:59.459
stakeholders that stake on a on a

0:02:59.459,0:03:01.860
blockchain to say that this block is

0:03:01.860,0:03:04.080
valid so using proof of stake we're

0:03:04.080,0:03:05.940
actually not expending any electricity

0:03:05.940,0:03:07.920
usage a lot of people believe that it's

0:03:07.920,0:03:09.780
it's less decentralized so I think

0:03:09.780,0:03:11.040
you're going to see blockchain reducing

0:03:11.040,0:03:13.140
its own carbon footprint meanwhile

0:03:13.140,0:03:15.180
providing Technologies and abilities

0:03:15.180,0:03:16.920
that will help improve things outside of

0:03:16.920,0:03:19.580
the blockchain space

0:03:19.860,0:03:21.360
I believe that crypto currency in

0:03:21.360,0:03:22.860
blockchain are going to continue to grow

0:03:22.860,0:03:25.019
and be widely adopted it's true that it

0:03:25.019,0:03:26.340
goes through Cycles so sometimes we'll

0:03:26.340,0:03:27.900
see a massive run-up and then a

0:03:27.900,0:03:29.760
correction but if you zoom out over

0:03:29.760,0:03:31.800
these from one cycle to the next it

0:03:31.800,0:03:34.140
continues to grow at a really rapid Pace

0:03:34.140,0:03:36.000
my biggest concern with blockchain

0:03:36.000,0:03:38.519
technology is that it's developing very

0:03:38.519,0:03:41.040
fast but the regulators and governments

0:03:41.040,0:03:43.680
don't really understand it they don't

0:03:43.680,0:03:45.659
know how to regulate it they will

0:03:45.659,0:03:49.500
eventually but short term they don't and

0:03:49.500,0:03:52.140
it's important to agree across countries

0:03:52.140,0:03:54.420
not just in one country it's already

0:03:54.420,0:03:57.239
become a an underlying layer for lots of

0:03:57.239,0:03:59.159
systems and applications worldwide and

0:03:59.159,0:04:00.780
so it's pretty difficult to at this

0:04:00.780,0:04:02.940
point stop using blockchains do I think

0:04:02.940,0:04:04.860
decentralized permissionless open

0:04:04.860,0:04:07.140
networks are here to say I certainly

0:04:07.140,0:04:09.120
hope so and I think Bitcoin demonstrated

0:04:09.120,0:04:11.159
that they are at least that one seems to

0:04:11.159,0:04:13.620
be over a decade in existence will the

0:04:13.620,0:04:15.720
new one survive it's really anybody's

0:04:15.720,0:04:18.000
guess it's impossible to know for any

0:04:18.000,0:04:19.859
new thing we need a lot of evidence to

0:04:19.859,0:04:21.660
believe that it's really going to be the

0:04:21.660,0:04:23.160
next big thing and in the case of

0:04:23.160,0:04:24.360
blockchain we just don't have that

0:04:24.360,0:04:26.520
evidence yet blockchain's helping push

0:04:26.520,0:04:28.800
the technology it's pushing ideas it's

0:04:28.800,0:04:31.560
pushing competition but sometimes the

0:04:31.560,0:04:36.080
first mover isn't the one who wins