[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:13.64,0:00:14.81,Default,,0000,0000,0000,,My name's Tegan Kline.
Dialogue: 0,0:00:14.81,0:00:17.98,Default,,0000,0000,0000,,I'm the co-founder of Edge & Node,\Nthe initial team behind The Graph.
Dialogue: 0,0:00:18.27,0:00:20.14,Default,,0000,0000,0000,,And with The Graph\Nwhat Google does for the web,
Dialogue: 0,0:00:20.14,0:00:22.52,Default,,0000,0000,0000,,The Graph does for blockchains\Nand organizing data.
Dialogue: 0,0:00:22.60,0:00:25.69,Default,,0000,0000,0000,,My name is Cynthia Haas, and I'm the\Ndirector of the World of Women Foundation.
Dialogue: 0,0:00:25.90,0:00:28.99,Default,,0000,0000,0000,,World of Women\Nis a collection of 10,000 women
Dialogue: 0,0:00:28.99,0:00:32.74,Default,,0000,0000,0000,,all across different backgrounds,\Nvariety of skins, traits.
Dialogue: 0,0:00:32.99,0:00:36.74,Default,,0000,0000,0000,,And we are a community that champions\Ninclusion and diversity in the web3 space.
Dialogue: 0,0:00:36.74,0:00:38.29,Default,,0000,0000,0000,,My name is Charlie Lee.
Dialogue: 0,0:00:38.29,0:00:39.91,Default,,0000,0000,0000,,I'm the creator of Litecoin.
Dialogue: 0,0:00:39.91,0:00:42.54,Default,,0000,0000,0000,,One of the alternative currencies to Bitcoin.
Dialogue: 0,0:00:42.54,0:00:45.21,Default,,0000,0000,0000,,I was playing around\Nwith the Bitcoin code base
Dialogue: 0,0:00:45.25,0:00:48.38,Default,,0000,0000,0000,,and decided\Nto create my own cryptocurrency
Dialogue: 0,0:00:48.55,0:00:51.72,Default,,0000,0000,0000,,and it was a fun side project\Nand it took off.
Dialogue: 0,0:00:52.76,0:00:56.85,Default,,0000,0000,0000,,When you buy something with a credit card,\Nwhen your groceries are labeled organic,
Dialogue: 0,0:00:56.85,0:01:00.31,Default,,0000,0000,0000,,when you see a verified identity\Non social media or when you vote,
Dialogue: 0,0:01:00.73,0:01:03.23,Default,,0000,0000,0000,,all of these things, they depend on trust.
Dialogue: 0,0:01:03.65,0:01:05.98,Default,,0000,0000,0000,,How do you know that\Nthe money was transferred,
Dialogue: 0,0:01:05.98,0:01:09.69,Default,,0000,0000,0000,,that the food is actually organic,\Nthat the person is real,
Dialogue: 0,0:01:09.94,0:01:12.11,Default,,0000,0000,0000,,or that your vote is counted?
Dialogue: 0,0:01:12.11,0:01:17.33,Default,,0000,0000,0000,,Ultimately, you trust records managed\Nby banks, companies and governments.
Dialogue: 0,0:01:18.04,0:01:22.83,Default,,0000,0000,0000,,But these days, many people wonder\Nif they can trust companies, governments
Dialogue: 0,0:01:23.33,0:01:28.30,Default,,0000,0000,0000,,or any form of centralized power.\NWith the rise of misinformation
Dialogue: 0,0:01:28.67,0:01:32.63,Default,,0000,0000,0000,,what if we could build a system of trust\Nthat didn't depend on a central entity?
Dialogue: 0,0:01:33.01,0:01:36.43,Default,,0000,0000,0000,,What if we could keep track of things\Nlike money or property in a way
Dialogue: 0,0:01:36.43,0:01:41.98,Default,,0000,0000,0000,,that anyone could audit the data without\Nputting a company or government in charge?
Dialogue: 0,0:01:41.98,0:01:45.15,Default,,0000,0000,0000,,That's possible today,\Nusing the technology called blockchain.
Dialogue: 0,0:01:46.06,0:01:49.28,Default,,0000,0000,0000,,Blockchain is a new way\Nof storing information across the internet
Dialogue: 0,0:01:49.78,0:01:52.57,Default,,0000,0000,0000,,where everyone can participate.\NWith blockchain,
Dialogue: 0,0:01:53.07,0:01:55.32,Default,,0000,0000,0000,,data can be decentralized and distributed.
Dialogue: 0,0:01:55.99,0:01:57.70,Default,,0000,0000,0000,,Nobody owns a blockchain,
Dialogue: 0,0:01:57.70,0:02:01.08,Default,,0000,0000,0000,,but everybody can use it\Nand verify their information on it.
Dialogue: 0,0:02:01.08,0:02:05.75,Default,,0000,0000,0000,,This technology is the innovation\Nbehind cryptocurrencies, like Bitcoin.
Dialogue: 0,0:02:06.38,0:02:10.96,Default,,0000,0000,0000,,It has other potential use cases\Nwhich we'll get to in a later video.
Dialogue: 0,0:02:10.96,0:02:14.26,Default,,0000,0000,0000,,But first, let's look at how the problems\Nof trust have been solved in the past.
Dialogue: 0,0:02:15.64,0:02:15.97,Default,,0000,0000,0000,,Since the
Dialogue: 0,0:02:15.97,0:02:19.06,Default,,0000,0000,0000,,earliest of human societies,\Nwe have invented different ways
Dialogue: 0,0:02:19.06,0:02:22.52,Default,,0000,0000,0000,,of building trust by keeping\Ntrack of information and transactions
Dialogue: 0,0:02:23.60,0:02:26.02,Default,,0000,0000,0000,,like who owns this farm?
Dialogue: 0,0:02:26.86,0:02:29.11,Default,,0000,0000,0000,,How much do I owe you for the milk?
Dialogue: 0,0:02:29.11,0:02:31.69,Default,,0000,0000,0000,,What are the laws of the land?
Dialogue: 0,0:02:31.69,0:02:35.78,Default,,0000,0000,0000,,Humans started using shells or precious\Nrocks to keep track of transactions,
Dialogue: 0,0:02:35.95,0:02:38.70,Default,,0000,0000,0000,,and these became\Nthe earliest forms of currency.
Dialogue: 0,0:02:38.99,0:02:42.50,Default,,0000,0000,0000,,As we moved from tribes\Nto villages to cities,
Dialogue: 0,0:02:42.87,0:02:46.33,Default,,0000,0000,0000,,we needed to keep track of property\Nand laws.
Dialogue: 0,0:02:46.88,0:02:50.30,Default,,0000,0000,0000,,This led to the early invention of numbers\Nand writing.
Dialogue: 0,0:02:51.25,0:02:53.17,Default,,0000,0000,0000,,Isn't that incredible?
Dialogue: 0,0:02:53.17,0:02:55.22,Default,,0000,0000,0000,,We didn't invent numbers for math class.
Dialogue: 0,0:02:55.80,0:02:58.72,Default,,0000,0000,0000,,We didn't invent the alphabet\Nto write books.
Dialogue: 0,0:02:58.72,0:03:01.85,Default,,0000,0000,0000,,We invented them to keep track of land,\Nlivestock,
Dialogue: 0,0:03:02.10,0:03:04.39,Default,,0000,0000,0000,,debts and taxes.
Dialogue: 0,0:03:04.39,0:03:06.73,Default,,0000,0000,0000,,And of course, we've come a long way\Nsince then.
Dialogue: 0,0:03:06.98,0:03:11.69,Default,,0000,0000,0000,,Currency has evolved from shells\Nto coins to bank notes to digital data.
Dialogue: 0,0:03:12.19,0:03:14.82,Default,,0000,0000,0000,,Writing has evolved from clay tablets\Nto paper
Dialogue: 0,0:03:14.82,0:03:18.70,Default,,0000,0000,0000,,to digital formats.\NAlong with inventing writing and numbers.
Dialogue: 0,0:03:18.70,0:03:22.49,Default,,0000,0000,0000,,We've also invented\Na new way to establish trust,
Dialogue: 0,0:03:22.74,0:03:27.100,Default,,0000,0000,0000,,because all of these ways of preserving\Nrecords, they still depend on trust.
Dialogue: 0,0:03:28.37,0:03:31.63,Default,,0000,0000,0000,,That's\Nwhy the laws of the land were set in stone
Dialogue: 0,0:03:31.84,0:03:34.88,Default,,0000,0000,0000,,to make sure nobody would change them.
Dialogue: 0,0:03:35.92,0:03:36.55,Default,,0000,0000,0000,,But how do you
Dialogue: 0,0:03:36.55,0:03:39.47,Default,,0000,0000,0000,,trust something,\Neven if it's set in stone?
Dialogue: 0,0:03:40.30,0:03:44.81,Default,,0000,0000,0000,,For example, you might have a clay tablet\Nthat says you own 100 cows,
Dialogue: 0,0:03:45.18,0:03:48.81,Default,,0000,0000,0000,,but how do I know\Nthat you didn't make that number up?
Dialogue: 0,0:03:48.81,0:03:52.15,Default,,0000,0000,0000,,That's why we invented\Ntrusted seals, stamps
Dialogue: 0,0:03:52.56,0:03:55.03,Default,,0000,0000,0000,,and signatures.
Dialogue: 0,0:03:55.15,0:03:58.24,Default,,0000,0000,0000,,And with all of these inventions,\Nwe authorize and put our trust
Dialogue: 0,0:03:58.24,0:03:59.86,Default,,0000,0000,0000,,in a limited group of people,
Dialogue: 0,0:03:59.86,0:04:04.08,Default,,0000,0000,0000,,organizations, or governments with\Nthe special power to verify our records.
Dialogue: 0,0:04:04.24,0:04:07.66,Default,,0000,0000,0000,,And that's the one thing that has never\Nchanged over thousands of years
Dialogue: 0,0:04:07.66,0:04:09.21,Default,,0000,0000,0000,,and new technologies.
Dialogue: 0,0:04:09.21,0:04:12.42,Default,,0000,0000,0000,,These systems only work\Nif we trust the organizations
Dialogue: 0,0:04:12.42,0:04:14.46,Default,,0000,0000,0000,,and authorities that verify the records.
Dialogue: 0,0:04:15.46,0:04:18.01,Default,,0000,0000,0000,,And this brings us back to the blockchain.
Dialogue: 0,0:04:18.01,0:04:21.26,Default,,0000,0000,0000,,Blockchain is the first technology\Nthat allows us to record information
Dialogue: 0,0:04:21.26,0:04:23.35,Default,,0000,0000,0000,,without needing\Nto trust a central authority.
Dialogue: 0,0:04:23.89,0:04:27.52,Default,,0000,0000,0000,,It's a digital way\Nto store and verify information
Dialogue: 0,0:04:27.85,0:04:31.60,Default,,0000,0000,0000,,that is set in stone\Nwithout needing a stone
Dialogue: 0,0:04:31.90,0:04:34.69,Default,,0000,0000,0000,,or a seal or a bank or government.
Dialogue: 0,0:04:35.23,0:04:40.45,Default,,0000,0000,0000,,The information on a blockchain is saved\Non a distributed network of computers.
Dialogue: 0,0:04:40.90,0:04:45.08,Default,,0000,0000,0000,,So long as these computers\Nare independently managed.
Dialogue: 0,0:04:45.45,0:04:51.29,Default,,0000,0000,0000,,In theory, no individual or organization\Ncan take down the network or corrupt it.
Dialogue: 0,0:04:52.42,0:04:52.88,Default,,0000,0000,0000,,This is
Dialogue: 0,0:04:52.88,0:04:56.75,Default,,0000,0000,0000,,like a form of writing\Nthat can't be counterfeit or destroyed.
Dialogue: 0,0:04:56.75,0:04:58.76,Default,,0000,0000,0000,,It enables a new form of trust.
Dialogue: 0,0:04:59.01,0:05:01.93,Default,,0000,0000,0000,,The first use is Bitcoin.
Dialogue: 0,0:05:01.93,0:05:05.47,Default,,0000,0000,0000,,Bitcoin is a digital currency\Nthat safely tracks transactions
Dialogue: 0,0:05:05.80,0:05:09.98,Default,,0000,0000,0000,,and ownership without needing to put trust\Nin any bank or government.
Dialogue: 0,0:05:10.60,0:05:12.40,Default,,0000,0000,0000,,But that's only one example.
Dialogue: 0,0:05:12.40,0:05:15.06,Default,,0000,0000,0000,,A blockchain could potentially be used\Nto track ownership
Dialogue: 0,0:05:15.06,0:05:19.90,Default,,0000,0000,0000,,of real estate, to establish contracts,\Nto authenticate documents
Dialogue: 0,0:05:20.57,0:05:23.61,Default,,0000,0000,0000,,and to verify\Na document was created on a certain date.
Dialogue: 0,0:05:23.74,0:05:28.58,Default,,0000,0000,0000,,It's now theoretically possible\Nto do all of these things and so much more
Dialogue: 0,0:05:28.95,0:05:31.91,Default,,0000,0000,0000,,without depending on traditional systems\Nof trust.
Dialogue: 0,0:05:32.50,0:05:36.59,Default,,0000,0000,0000,,Blockchain technology still has a long way\Nto reach its full potential,
Dialogue: 0,0:05:36.92,0:05:39.84,Default,,0000,0000,0000,,and its future\Nis a topic of regular debate.
Dialogue: 0,0:05:40.21,0:05:42.97,Default,,0000,0000,0000,,Some believe that this is the future\Nwith a potential
Dialogue: 0,0:05:42.97,0:05:46.51,Default,,0000,0000,0000,,to democratize who has power and authority\Nin human societies.
Dialogue: 0,0:05:46.85,0:05:50.48,Default,,0000,0000,0000,,Others think it is a giant scam\Nwith no other purpose.
Dialogue: 0,0:05:50.56,0:05:54.60,Default,,0000,0000,0000,,In the rest of this video series\Nwill look at how this technology works.
Dialogue: 0,0:05:54.60,0:05:57.98,Default,,0000,0000,0000,,And then we'll explore\Ndifferent points of view.