[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:01.59,0:00:10.49,Default,,0000,0000,0000,,[Music]
Dialogue: 0,0:00:13.10,0:00:15.54,Default,,0000,0000,0000,,my name is Tegan Klein I'm the
Dialogue: 0,0:00:15.54,0:00:17.28,Default,,0000,0000,0000,,co-founder of Edge and node the initial
Dialogue: 0,0:00:17.28,0:00:19.20,Default,,0000,0000,0000,,team behind the graph and with the graph
Dialogue: 0,0:00:19.20,0:00:20.64,Default,,0000,0000,0000,,what Google does for the web the graph
Dialogue: 0,0:00:20.64,0:00:22.68,Default,,0000,0000,0000,,does for blockchains and organizing data
Dialogue: 0,0:00:22.68,0:00:24.30,Default,,0000,0000,0000,,my name is Cynthia Haas and I'm the
Dialogue: 0,0:00:24.30,0:00:25.26,Default,,0000,0000,0000,,director of the world of women
Dialogue: 0,0:00:25.26,0:00:27.36,Default,,0000,0000,0000,,Foundation world of women is a
Dialogue: 0,0:00:27.36,0:00:29.94,Default,,0000,0000,0000,,collection of 10 000 women all across
Dialogue: 0,0:00:29.94,0:00:32.34,Default,,0000,0000,0000,,different backgrounds variety of skins
Dialogue: 0,0:00:32.34,0:00:34.26,Default,,0000,0000,0000,,traits and we are a community that
Dialogue: 0,0:00:34.26,0:00:36.18,Default,,0000,0000,0000,,Champions inclusion and diversity in the
Dialogue: 0,0:00:36.18,0:00:38.22,Default,,0000,0000,0000,,web through space my name is Charlie Lee
Dialogue: 0,0:00:38.22,0:00:40.68,Default,,0000,0000,0000,,I'm the creator of Litecoin one of the
Dialogue: 0,0:00:40.68,0:00:43.14,Default,,0000,0000,0000,,alternative currents fees to bitcoin I
Dialogue: 0,0:00:43.14,0:00:44.94,Default,,0000,0000,0000,,was playing around with the Bitcoin code
Dialogue: 0,0:00:44.94,0:00:47.64,Default,,0000,0000,0000,,base and decided to create my own
Dialogue: 0,0:00:47.64,0:00:50.70,Default,,0000,0000,0000,,cryptocurrency and it was a fun side
Dialogue: 0,0:00:50.70,0:00:52.80,Default,,0000,0000,0000,,project and it took off
Dialogue: 0,0:00:52.80,0:00:54.42,Default,,0000,0000,0000,,when you buy something with a credit
Dialogue: 0,0:00:54.42,0:00:56.34,Default,,0000,0000,0000,,card when your groceries are labeled
Dialogue: 0,0:00:56.34,0:00:58.74,Default,,0000,0000,0000,,organic when you see verified identity
Dialogue: 0,0:00:58.74,0:01:01.44,Default,,0000,0000,0000,,on social media or when you vote all of
Dialogue: 0,0:01:01.44,0:01:04.26,Default,,0000,0000,0000,,these things they depend on trust how do
Dialogue: 0,0:01:04.26,0:01:06.12,Default,,0000,0000,0000,,you know that the money was transferred
Dialogue: 0,0:01:06.12,0:01:08.58,Default,,0000,0000,0000,,that the food is actually organic that
Dialogue: 0,0:01:08.58,0:01:11.40,Default,,0000,0000,0000,,the person is real or that your vote is
Dialogue: 0,0:01:11.40,0:01:14.64,Default,,0000,0000,0000,,counted ultimately you trust records
Dialogue: 0,0:01:14.64,0:01:16.86,Default,,0000,0000,0000,,managed by Banks companies and
Dialogue: 0,0:01:16.86,0:01:18.00,Default,,0000,0000,0000,,governments
Dialogue: 0,0:01:18.00,0:01:20.94,Default,,0000,0000,0000,,but these days many people wonder if
Dialogue: 0,0:01:20.94,0:01:23.88,Default,,0000,0000,0000,,they can trust companies governments or
Dialogue: 0,0:01:23.88,0:01:27.00,Default,,0000,0000,0000,,any form of centralized power with the
Dialogue: 0,0:01:27.00,0:01:29.40,Default,,0000,0000,0000,,rise of misinformation what if we could
Dialogue: 0,0:01:29.40,0:01:31.08,Default,,0000,0000,0000,,build a system of trust that didn't
Dialogue: 0,0:01:31.08,0:01:33.66,Default,,0000,0000,0000,,depend on a central entity what if we
Dialogue: 0,0:01:33.66,0:01:35.58,Default,,0000,0000,0000,,could keep track of things like money or
Dialogue: 0,0:01:35.58,0:01:37.74,Default,,0000,0000,0000,,property in a way that anyone could
Dialogue: 0,0:01:37.74,0:01:39.60,Default,,0000,0000,0000,,audit the data without putting a company
Dialogue: 0,0:01:39.60,0:01:42.00,Default,,0000,0000,0000,,or government in charge
Dialogue: 0,0:01:42.00,0:01:44.04,Default,,0000,0000,0000,,that's possible today using the
Dialogue: 0,0:01:44.04,0:01:46.08,Default,,0000,0000,0000,,technology called blockchain
Dialogue: 0,0:01:46.08,0:01:47.88,Default,,0000,0000,0000,,blockchain is a new way of storing
Dialogue: 0,0:01:47.88,0:01:50.40,Default,,0000,0000,0000,,information across internet where
Dialogue: 0,0:01:50.40,0:01:52.76,Default,,0000,0000,0000,,everyone can participate with blockchain
Dialogue: 0,0:01:52.76,0:01:55.02,Default,,0000,0000,0000,,data can be decentralized and
Dialogue: 0,0:01:55.02,0:01:58.20,Default,,0000,0000,0000,,distributed nobody owns a blockchain but
Dialogue: 0,0:01:58.20,0:02:00.00,Default,,0000,0000,0000,,everybody can use it and verify the
Dialogue: 0,0:02:00.00,0:02:02.76,Default,,0000,0000,0000,,information on it this technology is the
Dialogue: 0,0:02:02.76,0:02:05.34,Default,,0000,0000,0000,,Innovation behind cryptocurrencies like
Dialogue: 0,0:02:05.34,0:02:08.52,Default,,0000,0000,0000,,Bitcoin it has other potential use cases
Dialogue: 0,0:02:08.52,0:02:11.40,Default,,0000,0000,0000,,which we'll get to in a later video but
Dialogue: 0,0:02:11.40,0:02:12.96,Default,,0000,0000,0000,,first let's look at how the problems of
Dialogue: 0,0:02:12.96,0:02:15.66,Default,,0000,0000,0000,,trust have been solved in the past
Dialogue: 0,0:02:15.66,0:02:17.70,Default,,0000,0000,0000,,since the earliest of human societies
Dialogue: 0,0:02:17.70,0:02:19.44,Default,,0000,0000,0000,,we've invented different ways of
Dialogue: 0,0:02:19.44,0:02:21.30,Default,,0000,0000,0000,,building trust by keeping track of
Dialogue: 0,0:02:21.30,0:02:23.58,Default,,0000,0000,0000,,information and transactions
Dialogue: 0,0:02:23.58,0:02:26.82,Default,,0000,0000,0000,,like who owns this Farm
Dialogue: 0,0:02:26.82,0:02:29.64,Default,,0000,0000,0000,,how much do I owe you for the milk what
Dialogue: 0,0:02:29.64,0:02:31.62,Default,,0000,0000,0000,,are the laws of the land
Dialogue: 0,0:02:31.62,0:02:34.02,Default,,0000,0000,0000,,humans started using shells or precious
Dialogue: 0,0:02:34.02,0:02:36.48,Default,,0000,0000,0000,,rocks to keep track of transactions and
Dialogue: 0,0:02:36.48,0:02:38.40,Default,,0000,0000,0000,,these became the earliest forms of
Dialogue: 0,0:02:38.40,0:02:41.28,Default,,0000,0000,0000,,currency as we moved from tribes to
Dialogue: 0,0:02:41.28,0:02:44.28,Default,,0000,0000,0000,,villages to cities we needed to keep
Dialogue: 0,0:02:44.28,0:02:47.94,Default,,0000,0000,0000,,track of property and laws this led to
Dialogue: 0,0:02:47.94,0:02:50.04,Default,,0000,0000,0000,,the early invention of numbers in
Dialogue: 0,0:02:50.04,0:02:51.48,Default,,0000,0000,0000,,writing
Dialogue: 0,0:02:51.48,0:02:53.22,Default,,0000,0000,0000,,isn't that incredible
Dialogue: 0,0:02:53.22,0:02:55.86,Default,,0000,0000,0000,,we didn't invent numbers for math class
Dialogue: 0,0:02:55.86,0:02:57.48,Default,,0000,0000,0000,,we didn't invent the alphabet to write
Dialogue: 0,0:02:57.48,0:02:58.74,Default,,0000,0000,0000,,books
Dialogue: 0,0:02:58.74,0:03:01.08,Default,,0000,0000,0000,,we invented them to keep track of land
Dialogue: 0,0:03:01.08,0:03:04.50,Default,,0000,0000,0000,,livestock debts and taxes
Dialogue: 0,0:03:04.50,0:03:06.36,Default,,0000,0000,0000,,and of course we've come a long way
Dialogue: 0,0:03:06.36,0:03:08.52,Default,,0000,0000,0000,,since then currency has evolved from
Dialogue: 0,0:03:08.52,0:03:11.46,Default,,0000,0000,0000,,shells to coins to banknotes to Digital
Dialogue: 0,0:03:11.46,0:03:13.56,Default,,0000,0000,0000,,Data writing has evolved from clay
Dialogue: 0,0:03:13.56,0:03:16.14,Default,,0000,0000,0000,,tablets to paper to digital formats
Dialogue: 0,0:03:16.14,0:03:18.60,Default,,0000,0000,0000,,along with inventing writing and numbers
Dialogue: 0,0:03:18.60,0:03:21.72,Default,,0000,0000,0000,,we've also invented a new way to
Dialogue: 0,0:03:21.72,0:03:24.06,Default,,0000,0000,0000,,establish trust because all of these
Dialogue: 0,0:03:24.06,0:03:26.88,Default,,0000,0000,0000,,ways of preserving records They still
Dialogue: 0,0:03:26.88,0:03:30.12,Default,,0000,0000,0000,,depend on trust that's why the laws of
Dialogue: 0,0:03:30.12,0:03:32.82,Default,,0000,0000,0000,,the land were set in stone to make sure
Dialogue: 0,0:03:32.82,0:03:35.88,Default,,0000,0000,0000,,nobody would change them
Dialogue: 0,0:03:35.88,0:03:38.52,Default,,0000,0000,0000,,but how do you trust something even if
Dialogue: 0,0:03:38.52,0:03:40.32,Default,,0000,0000,0000,,it's set in stone
Dialogue: 0,0:03:40.32,0:03:42.84,Default,,0000,0000,0000,,for example you might have a clay tablet
Dialogue: 0,0:03:42.84,0:03:46.14,Default,,0000,0000,0000,,that says you own 100 cows but how do I
Dialogue: 0,0:03:46.14,0:03:48.36,Default,,0000,0000,0000,,know that you didn't make that number up
Dialogue: 0,0:03:48.36,0:03:51.24,Default,,0000,0000,0000,,that's why we invented trusted seals
Dialogue: 0,0:03:51.24,0:03:55.20,Default,,0000,0000,0000,,stamps and signatures
Dialogue: 0,0:03:55.20,0:03:57.24,Default,,0000,0000,0000,,and with all of these inventions we've
Dialogue: 0,0:03:57.24,0:03:58.86,Default,,0000,0000,0000,,authorized and put our trust in a
Dialogue: 0,0:03:58.86,0:04:01.32,Default,,0000,0000,0000,,limited group of people organizations or
Dialogue: 0,0:04:01.32,0:04:03.24,Default,,0000,0000,0000,,governments with the special power to
Dialogue: 0,0:04:03.24,0:04:05.22,Default,,0000,0000,0000,,verify our records that's the one thing
Dialogue: 0,0:04:05.22,0:04:07.50,Default,,0000,0000,0000,,that has never changed over thousands of
Dialogue: 0,0:04:07.50,0:04:10.14,Default,,0000,0000,0000,,years and new technologies these systems
Dialogue: 0,0:04:10.14,0:04:12.36,Default,,0000,0000,0000,,only work if we trust the organizations
Dialogue: 0,0:04:12.36,0:04:15.48,Default,,0000,0000,0000,,and authorities that verify the records
Dialogue: 0,0:04:15.48,0:04:16.98,Default,,0000,0000,0000,,and this brings us back to the
Dialogue: 0,0:04:16.98,0:04:18.00,Default,,0000,0000,0000,,blockchain
Dialogue: 0,0:04:18.00,0:04:19.92,Default,,0000,0000,0000,,blockchain is the first technology that
Dialogue: 0,0:04:19.92,0:04:21.72,Default,,0000,0000,0000,,allows us to record information without
Dialogue: 0,0:04:21.72,0:04:23.52,Default,,0000,0000,0000,,needing to trust a central Authority
Dialogue: 0,0:04:23.52,0:04:26.94,Default,,0000,0000,0000,,it's a digital way to store and verify
Dialogue: 0,0:04:26.94,0:04:30.48,Default,,0000,0000,0000,,information that is set in stone without
Dialogue: 0,0:04:30.48,0:04:34.44,Default,,0000,0000,0000,,needing a stone or a seal or a bank or a
Dialogue: 0,0:04:34.44,0:04:36.90,Default,,0000,0000,0000,,government the information on a
Dialogue: 0,0:04:36.90,0:04:39.24,Default,,0000,0000,0000,,blockchain is saved on a distributed
Dialogue: 0,0:04:39.24,0:04:42.54,Default,,0000,0000,0000,,network of computers so long as these
Dialogue: 0,0:04:42.54,0:04:46.02,Default,,0000,0000,0000,,computers are independently managed in
Dialogue: 0,0:04:46.02,0:04:49.56,Default,,0000,0000,0000,,theory no individual or organization can
Dialogue: 0,0:04:49.56,0:04:52.50,Default,,0000,0000,0000,,take down the network or corrupt it
Dialogue: 0,0:04:52.50,0:04:54.72,Default,,0000,0000,0000,,this is like a form of writing that
Dialogue: 0,0:04:54.72,0:04:57.24,Default,,0000,0000,0000,,can't be counterfeit or destroyed it
Dialogue: 0,0:04:57.24,0:04:59.76,Default,,0000,0000,0000,,enables a new form of trust the first
Dialogue: 0,0:04:59.76,0:05:01.92,Default,,0000,0000,0000,,use is Bitcoin
Dialogue: 0,0:05:01.92,0:05:04.32,Default,,0000,0000,0000,,Bitcoin is a digital currency that
Dialogue: 0,0:05:04.32,0:05:06.54,Default,,0000,0000,0000,,safely tracks transactions in ownership
Dialogue: 0,0:05:06.54,0:05:09.36,Default,,0000,0000,0000,,without needing to put trust in any bank
Dialogue: 0,0:05:09.36,0:05:11.64,Default,,0000,0000,0000,,or government but that's only one
Dialogue: 0,0:05:11.64,0:05:13.74,Default,,0000,0000,0000,,example a blockchain could potentially
Dialogue: 0,0:05:13.74,0:05:15.72,Default,,0000,0000,0000,,be used to track ownership of real
Dialogue: 0,0:05:15.72,0:05:18.96,Default,,0000,0000,0000,,estate to establish contracts to
Dialogue: 0,0:05:18.96,0:05:22.02,Default,,0000,0000,0000,,authenticate documents and to verify
Dialogue: 0,0:05:22.02,0:05:23.82,Default,,0000,0000,0000,,document was created on a certain date
Dialogue: 0,0:05:23.82,0:05:26.58,Default,,0000,0000,0000,,it's now theoretically possible to do
Dialogue: 0,0:05:26.58,0:05:29.60,Default,,0000,0000,0000,,all of these things and
Dialogue: 0,0:05:32.52,0:05:34.74,Default,,0000,0000,0000,,blockchain technology still has a long
Dialogue: 0,0:05:34.74,0:05:37.68,Default,,0000,0000,0000,,way to reach its full potential and its
Dialogue: 0,0:05:37.68,0:05:40.50,Default,,0000,0000,0000,,future is a topic of regular debate some
Dialogue: 0,0:05:40.50,0:05:42.72,Default,,0000,0000,0000,,believe that this is the future with the
Dialogue: 0,0:05:42.72,0:05:45.00,Default,,0000,0000,0000,,potential to democratize who has power
Dialogue: 0,0:05:45.00,0:05:47.64,Default,,0000,0000,0000,,and authority in human societies others
Dialogue: 0,0:05:47.64,0:05:50.16,Default,,0000,0000,0000,,think it is a giant scam with no other
Dialogue: 0,0:05:50.16,0:05:52.26,Default,,0000,0000,0000,,purpose in the rest of this video series
Dialogue: 0,0:05:52.26,0:05:54.72,Default,,0000,0000,0000,,we'll look at how this technology works
Dialogue: 0,0:05:54.72,0:05:57.42,Default,,0000,0000,0000,,and then we'll explore different points
Dialogue: 0,0:05:57.42,0:05:57.85,Default,,0000,0000,0000,,of view
Dialogue: 0,0:05:57.85,0:05:59.94,Default,,0000,0000,0000,,[Music]
Dialogue: 0,0:05:59.94,0:06:02.94,Default,,0000,0000,0000,,us
Dialogue: 0,0:06:03.51,0:06:06.66,Default,,0000,0000,0000,,[Music]