Web3 explained with Kevin Riedl

Capítulo 01

0:01 foreign all right Kevin um I’d like to thank you for uh joining us today on the hidden cures metacast um we want to talk a lot about web 3 blockchain and kind of where it’s going and where it’s headed and um you are the expert and so uh can you tell the audience a little about yourself what you do and here you are yeah sure first of all thank you everyone for having me it’s been a pleasure and the honor of being here um secondly yeah sure I’m Kevin uh legal

0:42 coming from Austria basically uh owned a smaller piece of agency in that regard and yeah what you do is we mostly adopt our contracts and ideas listen to a lot of Consulting for sure around that because it’s usually necessary to educate the customer um that’s what we do most of the time and that involves so-called nft collections uh decentralized organizations which is nothing else than some kind of voting mechanism where

1:18 people can vote with the assets onto some decisions and yeah tokens and even infrastructure and yeah but I’m really passionate about is actually education so if you have seen my LinkedIn or other social media channels or see that I post multiple times a day some kind of educational content actually tries to bring value and yeah that’s actually what I do for the most part and yeah I hope I can bring some value to this today and yeah I

1:58 would say any questions at any time feel free to drop them into the chat bar um I think after I attempt to keep things highly interactive because it usually helps to get things into the direction that helps everyone the most um I would say yeah what would I don’t know I don’t know if you want to jump in here but yeah yeah so I I find it really interesting that you have focused on education and uh more so just um children like like in the ages of

2:37 um in high school having the right smart contraction codes can you talk a little bit more about that uh yeah sure um yeah well I maybe a little bit of something I’m teaching children 10 to 15 year olds uh like every summer for the past X years basically I worked with all work with a non-profit organization in Austria in that regard and um yeah this year we did the first ever small contract or blockchain course which was really high risk because we

3:17 had five days it had developed it was an actual software development course and um yeah at the end of the week like on Friday they had to present it on a big stage to their parents to other teachers and so on and yeah that’s definitely a big thing you know especially um because I didn’t know if that actually works you know a learning Hotel because my project is not an easy task especially because you actually need to have a lot of texts you

3:51 need to understand wallets you need to understand how to transactions somewhat work and what is a blockchain why does it exist um yeah that was the let’s say the overall structure and what we do now is we decided to do the same format but online this time and for web free in general but which means not actually development contracts but giving a general introduction to children in general once in German and France in English so that

4:26 we have some kind of accessibility here and yeah got already quite some registrations around 16. I have 67 and that’s quite cool uh especially considering that yeah I would say parents or children are not that easy to reach comes to such a highly niche Chinese topic and yeah maybe to give you some context how we actually did I think that’s

Capítulo 02

5:00 something that you might be more interested in besides what we do and yeah I would say give you some context yes in summer we had five things to do that to learn to give them uh let’s say the tools my contract and what they were able to do in these I would say actually three days because the first day was very maturity like Channel instruction storytelling like 99 really came from let’s say uh 2008 Bitcoin uh why

5:43 governments are actually dislike blockchain um inflation why everything gets more expensive and all these kind of things I talked about scams wallets and yeah all that stuff basically and as you can imagine that was like definitely the funniest most exciting day all of them because the kids got like Super X other I would say extroverted excited at that time uh I asked a lot of Highly contextual and deep questions and that was already I was a great

6:22 starting point because knowing understanding why this technology is actually here uh help them a lot throughout the week when they actually got developments so what we did is um we talked in the end on the end at the at Monday basically what our smart contracts I even had a quick look at the code itself and on the next day we basically jumped right into it but um I explained what nfts are what tokens are and that was basically they go I

7:01 either told them uh if you want to do something easier uh let’s try a token regular security token that you can trade on the blockchain which is already I would say exciting enough and yeah and then and support nft collection and the fun thing is uh it’s kids where I would say crazy three teams out of six on four teams of six which already means

7:42 that some teams need multiple projects these days that’s very cool awesome I’m glad you like it yeah that’s really exciting and yeah teaching the youth about you know web3 and it’s basically the future so you guys are really giving these kids like a leg up on like what’s really coming down in the future that’s very awesome I wish I could I wish I would have learned this in 2008 when it first came out yeah uh well at that time uh Bitcoin was

8:17 slowly slowly slowly emerging the following years but it was now we lost my contract discussion or something like that so but yeah um but yeah that’s definitely an exciting thing uh for us it’s less about let’s say watch it uh brings us you know it’s more something for Australia it’s great marketing it’s great branding right but in the end um it’s just fun because if you see the passion or

8:58 excitement in children’s eyes that’s just cool you know it’s uh something different besides the daily daily business but um yeah but one thing I would say to you is I don’t think education per se is actually the code for the tree almost from my point of view I guess it should be more like abstracted away people shouldn’t recognize that they use blockchain for sure if you want to build that product or projects then you need to know

9:33 but otherwise in best case you don’t talk a little bit more about that you talk a lot about that on LinkedIn and a lot of your posts about um businesses not getting into web3 and really doing their homework can you you talked a little bit about that strategy and uh I know what you mean when you say that yeah sure have a good day the most

Capítulo 03

10:00 important thing when any company approaches us is why why do you want to get into that field and it’s less about let’s say ethical discussion it’s more about the use case the business case what does web feel for you what what would make your product better if you add I don’t know nfts or dials or whatever there needs to be a reason to utilize technology should never go in any business in any startup thanks first it should be always it business case of

10:39 people first understanding what we need to build and then comes the how and if the how includes over three awesome and I definitely think that a lot of business can benefit from web free but I’m also convinced that not every business should be in battery because as a general rule of thumb that says blockchain is slow and expensive in comparison to centralized Solutions so there’s a reason why centralized databases and centralized companies like

11:21 Facebook Google and so on alphabetana I have such a high let’s say the ability to scale or such reliable out of that large and yes the three companies can really become really really large as well uh it doesn’t make sense to put everything on the blockchain it just degrades ux because you always need to pay for things it makes things lower and it complicates things it makes development of the product much more expensive as

11:57 well as you might already know where free developers are super expensive and yes the price will go down the next few years because more people get into it but uh that won’t change it’s still us let’s say special skill but they’re much more than two dollar questionable pre-developers that won’t change for the next five to ten years I really liked it so that’s definitely something to consider as a company can you talk about the differences

12:32 between web 3 the metaverse um kind of like how it all works you know Starbucks enter it says entered this Market uh Macy’s has entered this market and they’ve kind of entered it through the metaverse and now Starbucks has released their nfts on polygon um but I still think there’s a I think people think metaverse nfts are all web 3 is all one thing you kind of break it out and um kind of explain how it how each one of

13:05 them is kind of different and when you say web3 what does that Encompass when you say metaverse what does that encompass uh yeah sure on a great question um for sure everything that I see now is just opinionated and I’m for sure there are definitions out there but instead of it especially when it comes to their so-called metaverse I have heard all kinds of definitions some people stated meteoros is a free evil just like special some people even

13:39 claimed and and I’m really talking about an expert here that wrote a couple of books and it’s really well known uh even states that the metaverse can be contextual format so it doesn’t even need to be a visual um to uh the necessity to utilize blockchain or not so there’s a wide range of what the meeting was actually might be or it’s not if it’s already there if it already exists or if it doesn’t so Tomatoes is definitely the most

14:13 difficult thing um to Define especially also when it comes to AR VR and how does that that play into it from my point of view I definitely think tomatoes it’s just a term but I guess time around all of it would be like a virtual world where you can actually own things which means it necessarily involves blockchain in some kind of sense and you are able to actually be immersed in that which is a password by itself but just actually means

14:50 when you utilize a virtual reality or augmented reality technology so you are actually inside the world you cannot staring at this key at the screen

Capítulo 04

15:02 and performing at the on the outside Channel that’s that would be my metaverse let’s say somewhat definition when it comes to but free in general uh is for me really simple that means everything that basically involves blockchain that’s very free is just a fancy new neighbor for crypto just a fancy new name for the option that’s been free for me which means you have a website that opens or uses your wallet in some kind of way

15:38 or reads on the blockchain or white to the blockchain I don’t know but that’s very free for me so I’m probably new that also includes yeah oh sorry so I’m really new to this and um you guys use the word web3 did you guys have a web one a web 2 prior to web3 uh yeah great question um when we look at the actual history of the internet right uh um in well I’m too young to actually know the years but around 2000 there were the first couple

16:16 of websites right that’s so called Web one and it was you could imagine it like a really really super basic and cheap looking website it just sometimes a blank white screen there’s some text on it so basically looking like a blog post without any nice styling or whatever it’s really just like a book a widescreen pasta text for example uh things like that like a web that doesn’t move that doesn’t adapt to your user for

16:53 example that’s called the robot one and at some point we’ve got social media we got that sounds like Facebook because many other apps that are Interactive um I would also count Google to that for sure um because you can type in on the website or you have an identity somewhere on that website and the content the information that you see is dynamic and completely personalized to you so it’s not aesthetic let’s add

17:33 aesthetic page where every user on the planet sees the same content but instead it’s Dynamic things can change and will change things might move are animated except that that’s right too and yeah now we have possibility to actually own things thanks to our blockchain and wallets and that just adds yeah new business models on top of that so that’s the thing actually I hope that answers the question it did thank you yeah that was very uh clear and concise

18:15 I very much like made me understand I was like oh okay so that’s just like the first version and then our second version the way I kind of thought of it was like the original internet when our computers were like black with green fonts and then our 20th century internet and now we’re going into like the 3D virtual world and we’re going into virtual reality yep uh well as as mentioned before um that’s all just terms you know what what is

18:48 um it’s actually from my point of view just an opinion all the time but free is definitely something that’s more closely defined but meters and most of the other things are highly Dynamic okay in terms of the definition Kevin so we kind of we kind of look like look at spatial and we saw the opportunity as as we kind of move into a web free kind of World um you kind of see like this is where someone’s website will be so not

19:23 necessarily going to um the web 2 type of website where you just click and Google but come into a space like this this is more interactive where your community can interact and it combines The Social Network with a with a space that ensures that has uh information or content about you and your company you kind of see that as in the first step in integrating people into this new uh universe or do you think this is just a

19:54 fad who’s going to go away um well looking at rep 1 and web tour

Capítulo 05

20:03 we still see both both coexists but one we still have static websites for example most company websites are in fact somewhat were a web one because the content doesn’t change right and there’s actually some things that move that are interactive because you can write fill out the form or things like them but most company websites and project data very much static so one could argue that it’s somewhat wet one um

20:43 so I think it’s the same for metaverse web free so basically these company websites will in my opinion definitely stay there will be still used as a means of Distributing or showcasing information but I will definitely also be some kind of occasions where I don’t know maybe when it comes to me meetings or just gaming gamifying things you know meetings or whiteboards sessions or maybe talks like this that’s definitely more fun than a regular let’s

21:26 say Zoom call something like that these kind of things yeah um I definitely think that and as especially when it comes to photo gamifying this with I don’t know with posts which means you get some kind of patches or medals or participating uh some kind of webinars and so on that you can showcase that on your profile I don’t know things like that uh I guess I’ll definitely coming and will be more widely adopted what I don’t think it really depends on the

22:04 business model for sure if you’re a fashion company I fully comply with that and fully think that they will have like locations in the meters but if let’s say you’re a regular company I don’t think you need or will have actual building in the Metro Bus it could be wrong could be wrong maybe it’s going to be a place to Showcase case studies I don’t know to present my past prior projects to your potential clients uh I’ll grab a

22:48 poor nice coffee in our first talk or something like that Consulting sessions could be I don’t know and it might depend on the business but yeah let’s see I don’t know that’s my answer so we made you a little card and uh if I can bring it over too so you can see it and uh thanks basically we would create badges like this I don’t know if you can

23:30 see it or if I’m just can you do it can you do a little 360 view for because I’m recording so I can get like a nice little 360 of it oh so I can see it better perfect and so when it comes to Badges and um kind of what you were talking about um spatial does something cool where it locks down content or rooms um based off of nfts or they’re calling it nf2 so nfts

24:11 that you have in your wallet which would allow only a certain amount of people to come into this room or certain people that have your entity to come in here if they come in this room what do you think about Concepts like that when you talk about um eatings or or just business right so if if I’m Starbucks and I have a certain nft um that gives me like you were talking about the gamification that gives me access to rooms that allowed me to

24:42 interact or talks with the CEO is that that’s something or somewhere you see the industry going or is again that’s just we’re just too far away from uh the question is twofold the company to be honest uh yes I definitely think the industry is going that way simply

Capítulo 06

25:02 because it’s a standard way of approaching these kind of things you know as a company but I need to launch an nft or token and then I can check does that user own this token and has access to this but that’s nothing new that’s something that you could have done already 10 years ago so you don’t need necessarily web free or blockchain for that you could have just saved it into your regular database you could give people the opportunity to

25:41 sell their let’s say ticket on that Marketplace in a centralized way and all these things access already just look at console games we have accomplishments we have skins uh people trade gaming accounts all that kind of stuff and that also branches out in many other industry sectors as well so it’s definitely nothing new which is good um because that means the business model business case is here but it also means that it’s not

26:16 necessarily needed to do that on the blockchain so thinking about the ux perspective that you need to own a wallet to actually do this kind of things uh make it more difficult because you need to think about how do we give a user I want to maybe even without them recognizing uh just look at Reddit for example that launched their Avatar energies people didn’t even know these are an advantages in the beginning and yeah that’s the actual thing that

26:54 you wouldn’t need to do make it so abstract that people don’t even recognize that you use this technology so that makes it more difficult actually again and so the question for me is or I’m I’m quite convinced of that and I know many people that agree with that as well many companies also big ones do it for let’s say targeting the Amna Generations so it’s less about is that the perfect solution for the problem that I want to solve but

27:31 more about targeting younger people that are convinced and like that technology so I think it’s more about that most of the time when companies go into the meteors when they uh I don’t know so virtual fashion I’m sure that’s a business case separate one but these kind of things um I think it’s that’s about oh well we need blockchain we need centralization uh because we want to give power to the people if they actually would like to do

28:04 that then things would look much much much much different and that’s definitely not the case so that that’s my take actually hope that answers I couldn’t agree more like the I think people like the idea of nfts um but the actual execution of how does that get into somebody’s hands becomes quite difficult right like in so many different ways um you ever see that becoming easier where it’s I get that everyone has to have a wallet and it’s kind of how it

28:40 works on the blockchain there’s been a lot of companies that kind of come in now and then that third party I think we call them daps am I correcting that um one doesn’t it gets easier many companies focus on ux and improving the user experience when let’s say the already Solutions out there where you can log in with your Gmail account Facebook I don’t know whatever you want to or email address and that solution automatically

29:16 generates a wallet behind your back that you can use so there are other Solutions out there and there are definitely many more things that are being built right now that’s all these kind of things but the question always is if you use these kind of things then you always give up some kind of decentralization and ownership and power aspects and no matter how decentralized that solution thinks because it’s always an abstraction

29:49 and the more abstract uh something is which means you make it easier for someone to use something because you hide things and you heard nothing is

Capítulo 07

30:02 correct word then you always have some kind of power Dynamic here you always have information that the user maybe doesn’t have or some control that usually doesn’t have so that just means well why do you use blockchain them at all because blockchain isn’t there for let’s say that the two big claims of people on companies have is decentralization control which means nobody can take that asset away from me that’s my opinion the strongest value

30:39 proposition and then we have that much much weaker but somewhat maybe valid claim it’s about interoperability which means that you can exchange these assets easily between different companies organizations because you have a independent data layer which means the blockchain itself that saves uh two energies for example your your assets your tokens what you own and that definitely makes it easier to some extent but for quite some time

31:21 it will be much more difficult because most people don’t have to know how and most ux solutions aren’t there yet I’m not sure enough yet so the only reason to use blockchain right now for me is to actually go into that ownership and decentralization world so yeah and can you talk more about that Kevin when you say um ownership are you talking more like a Dao or like what do you mean by the best case scenario for using blockchain like

32:03 what type of businesses should be using it foreign use cases out there which means you own for example bit when you own if you’re you own some kind of token and the bank can certainly say uh well we don’t give it to you oh well we are paying for oh well uh you know you’re sanctionized which is already being Bell tested thanks to tornado cash and whatever Solutions without trying to confuse your knowledge but what I want to say is

32:46 blockchain enables you to actually own money just uh as you own actually your cash you know in your own actual wallet at home so put the currency actually enables you to own these kind of things in a digital way if you have something on your bank account you don’t own it the bank didn’t even have it uh they usually lend a lot of it to other parties and then these parties maybe landed away again and that that gives uh let’s say an incredible incredible

33:24 launch level rich and that’s why Banks uh oftentimes get in trouble so if you land the same hundred dollars to 10 people that’s an issue so basically when you say decentralized you say moving away from like those traditional banking systems uh um yeah um I I’m maybe some context I own a small part of a traditional finance company as well and we have organized uh Conference in October in Frankfurt to Germany where we invited asset managers

34:08 and all these traditional people and they didn’t know that I’m a smart contract ever actually and they pitched or some of them pitched blockchain to me all of them know matter how conservative they are they are really conservative oftentimes they know that blockchain dictify the Central Finance is the future all of them there’s not a single doubt anymore they’re convinced and that’s the crazy part I’m talking about London Stock Exchange as the

34:45 people from there and so on and the least person that’s just crazy so that’s definitely I would say the strongest use case wow

Capítulo 08

35:02 and so yeah well I think the uh the garyvee’s in the world and the uh kind of what the the rhetoric is out there in in the mainstream is nft is a way to own a collectible right so very much like Finance or or social media or anything like it’s a way to actually say or to say you were there like I I always use Facebook and and listening to um the CEO of Facebook I can never remember his name what’s his name um uh Zuckerberg

35:40 yeah Zuckerberg and he was on there talking with um kind of you know why he’s against iPhone and communication and and how a phone was created and he’s creating a communication um a different way to communicate and a lot of his ideas were nfts were a way to you know if you said you were at a restaurant and you took a picture but you’re really at your home or you stole the picture off the Internet and you kind of faked being there entities were

36:09 a way to show um like there were social currency so it was like actually you know I actually own that car I actually own that house and he kind of envisioned the world where you’d walk into a place like this in a metaverse and on your wall would be all the nfps that you own that were basically uh things that you owned in real life but um ways for people can see them here so for instance if you owned a Rolex but you didn’t wear your Rolex all

36:35 the time um and people were allowed in your room they’d be like oh he actually has a Rolex and it’s a little bit of like social currency so it’s interesting how you talk about the D5 Market what do you think about Zuckerberg’s idea of social Equity with nfts or non-fungible tokens of claiming ownership of actually owning or being in a place um well the question always is does that need to be decentralized uh safety of a blockchain but yeah I

37:10 definitely like that um so I would although I I would say this goes actually in the direction of so-called hopes which is nothing else uh as an abbreviation for proof of attendance protocol which means to get an nft on a blockchain that you don’t need to any gas for because that company that issues those probes pays for it and those nfts are actually used to prove that you attended an event like

37:50 this for example so we could issue posts for this event if we put a plan to do that so that would be that’s already there and I really like this the question just is will people care and let’s say two years if they you know it’s just a souvenir you know uh for some events it’s nice but for most of them people don’t actually care you know right now it’s fancy in two videos maybe it’s not so that’s uh that’s the question

38:28 and so if I uh Nike kind of had this idea and I thought it was a brilliant idea and so what Nike said was cool if you if you come in and you have our nft now when we drop new shoes instead of bots being able to jump in here and buy up all these shoes and then resell them the only way you can actually buy these shoes is if you have one of our thousand nfts that were giving away just for attending an event right and now you get

38:59 first access to their shoes when they drop so the 1000 nft holders get to purchase two shoes at that point uh because they attended an event and that that’s really where the utility of the nft comes in to speak a little bit more about the utility and kind of how they can take that hope nft and then build those type of um functionalities into it and does that does that need to be a smart contract uh yeah great question basically

39:33 that’s always the thing right doesn’t need to be a smart contract which means is a smart contract right definition but you could solve it in a centralized database as well it’s not not many reasons why you can’t do that or you can provide Market based or service things

Capítulo 09

40:00 you can do a lot of these things and for some industry sectors uh these marketplaces exist so that’s the first question does it need to be a smart contract that’s always depends right um the advantage definitely is if it’s really easy for you to create the nft because you can use I’m one of these no code tools which means you just click a couple of buttons and you have the nft then it’s definitely easier to use that than actually building some kind of app

40:41 or something like that where you can buy and sell something in a digital way so the blockchain definitely enables you to make this check out and buy a selling process of assets any kind of assets much more streamlined and much more easy easier right so that’s definitely the case so maybe from a complexity standpoint that’s certainly a big big boss and from a Utility side to get back to your original question I’m not mistaken

41:19 um that that’s a cool part yeah because there’s a during a standard the dial sorry standardized way of validating if you own something it’s easier for other solutions for example Discord to check do you own that nft if you wouldn’t have that then this code would need to go to your own custom rest API and check if that specific user has that that definitely makes things much more easier although way easier

42:00 um I guess that’s the main benefit of using nfts and that regard for providing utility but it’s super easy to sell by and prove that you put your own distance and what kind of utility you know describe is the limits you can do anything that you can imagine right before I could speak for myself on this but energies without until we don’t really make sense to me I guess that’s where the art World kind of is right so you’re buying a piece of art and then

42:34 you’re just saying hey I actually own this art or I’ve been to this event um without utility um I think that’s kind of what is destroyed and you and I have had this conversation before but I really believe that’s kind of what destroyed what has been destroying uh the crypto world and the web 3 Market when it comes to just normal people right people that go to work every day and don’t have to deal with web 3 or think about web 3 at

43:01 all and they always go back to um it’s fake it’s not real there’s you get nothing from it it’s just a money grab um how do you think we change that uh mindset and what are different ways you know when you when you are utilizing nfts and what type of utilities and does it have to be on the blockchain can it be something easy at first that kind of gets people into the blockchain like how do you how do you see us 2023 how do you see this this billion

43:36 dollar Market Per Se um take off well [Music] um as mentioned before the Armory is definitely reasons for doing it on the blockchain and all the reasons for not doing on the blockchain um on the cost perspective complexity side on The View and um there we go I’ll just say from the X perspective right now it would make sense to do it in a central asteroid when it comes to q1

44:18 sometimes ask you a question right there you keep saying it’s it’s expensive but I mean really I can jump on polygon I can take this um digital asset that I made right here I can go into openc I can create a contract I can mint it and then I can basically sell it right I mean um I can transfer it I can there’s a lot of different things I can do with it that puts on the blockchain that really doesn’t cost anything other than time

44:45 when you say um it’s cost heavy can you talk a little bit more about that uh just so that we get a firm understanding of what you mean when you say that uh yeah sure uh two things regarding that in general first thing that’s when

Capítulo 10

45:02 we talk about polygon a really tiny cost right indeed that’s a transaction fee you always need to pay for transactions if you do it in a centralized trade there are no transaction fees first thing when we talk about let’s say I just for like everyone that’s that’s a beginner can you just talk a little bit more I’m sorry and those two things um when you do anything that involves the blockchain which means you want to buy some create

45:35 an energy for example which is a digital artwork then you need or you basically save something on the blockchain which is just a database that’s distributed around the world so there are many computers one is in Asia one is in the US and both have the same set of data and for that very same reason you need to pay these people that have these servers to actually save your data your information which means you just bought

46:13 this piece of art and these people around the world all of them need to save that that costs money some blockchains costs way more on some it costs way less but can go from a couple of cents or even a fractional sense to hundreds of dollars depending on demands of the blockchain and the type of blockchain right now all of them are quite cheap Lots because also good prices can you just describe that um and you did a little bit just what I

46:54 really been trying to get to is just the blockchain in general and how it works differently than um you know right now I hold the information I’m the one with the information on a website platform right so if I said you had this um I’m the one who controls um the data right and what we’re paying keys for is is to lock it in and saying even if a computer goes down in the U.S and in AP Asia there’s still 2 000 other computers that hold that same data and

47:26 it can’t be changed and so it’s locked in and so when you own it you own it and there’s no other way around it is that a fair way of saying that in the simplest term as possible um I would say 50 50. it’s completely correct and nothing wrong about that um the thing is if a computer goes down and then another one is still there to hold the data that’s something that’s actually about two principle but Google has many servers as well if one of them

48:02 explodes or Burns Google is still there and working um what approach doesn’t you said that perfectly uh it doesn’t allow any of the of these servers to just change the information that’s what it is about if something is saved on the blockchain the theory of game theory around it is nobody can manipulate it nobody can change it without the majority of these people that control the natural agree into it and usually the incentives the

48:43 stakes for these people operating that Network are really high and then Department that they are honest with it now so there’s a really low in some active most of the time that actually try to scam people and that’s why the blockchain is so powerful so then that’s that’s the main main thing that’s why I Define the center of Finance is so exciting and there’s no bank nobody that can take it away from you because nobody can change the

49:14 information who owns something that’s the powerful that’s the cool thing about it yeah that’s the part um when we talk about business and and that’s the part that I love right is um and we’re gonna talk a little bit into the future but I love the idea of dows and just like decentralized banking I believe so many companies and so many big companies should be um more transparent and more than anything what I I rest um why I’m I’m in this industry and why

49:53 I want to be in this industry is I like transparency right I like the idea that um you can see what’s going on and and

Capítulo 11

50:00 everyone’s books are open um and I like that in cannabis right so I like it in taking um things that people see in the dark like banking is is very dark especially here in the United States and kind of how we look at everything right you said something earlier that I don’t know that everyone understands is that a bank just takes a hundred dollars and gives that same hundred dollars to 10 people right and then just charges them

50:28 um interest and to see that decentralized what that means is like being able to see where every dollar goes that’s that’s scary for some people but uh very cool for other people right um and you when you talk about not everything that’s just needing um blockchain do you not like the idea of seeing being able to see um transparently in the in the companies via blockchain or you just think it’s too hard to get there um an example let’s talk about

51:07 uh okay uh first of all there are different types of blockchains I don’t want to get too deep into that but when we talk about blockchain in this context or 2013 you always talk about so-called public blockchains which means the data that you save onto that Network that blockchain is visible to everyone everyone can see it everyone can verify it everyone can save something onto the blockchain if they pay that fee to this

51:45 uh people operate in the network but there are also other types of blockchains that restrict that ability which means only some people can save data on a blockchain only some people can see the data that is saved on the blockchain that for example that involves use cases like Logistics you don’t want the whole world to see where your cooks are called the hour and who it at the very same moment actually passage you know that can be cool for

52:24 some tiny use case because most of the time it’s a security issue if you transport something really valuable then you don’t want people to see that all over the world but [Music] um but still it can make sense to use a blockchain because these parties these people that are involved in that supply chain throughout the journey that don’t trust each other so they evaluate who had the package last before it got lost for example

52:58 these kind of things that’s the first part of the story where the public blockchain for example the things that we talk here about don’t make sense necessarily there’s many other things like that then you get into things like that sounds really silly and I think the hour why do you need a decentralized dog or cat app and I had a potential customer that tried to build some productives but why do you need to save that data in a decentralized way

53:39 who don’t I trust you who thought that I trust uh that I don’t know all of that information but instead saving it on a public blockchain so that everyone can see there are no reasons for that at least no reason that I can see and that’s certainly a business that I don’t think should resolve completely around their feet maybe there are some tiny things well it could make sense or 90 percent uh about this specific use case it

54:17 probably doesn’t so this kind of considerations phone always has to undertake what’s the value of that blockchain would add here who don’t I trust who don’t die at first that’s the main question and then I’m so sorry I know that we’re uh we’re running up against time and I know we’ve kept you for way too long and you’ve been awesome and amazing I think we’ve learned we’ve learned so much does anyone have any questions that they want

54:47 to uh ask Evan while he’s here and we hope to have them back on to talk more about this I think it’s such a interesting subject kind of as we’re moving forward but I think you’ve done a great job does anyone have any questions that’s here

Capítulo 12

55:00 uh I think I asked my questions already my only question would be it just you referring to the nfts do you see the nfts getting um any more advanced or how I say uh more more streamlined in the future to where it’s more of a uh common um currency among businesses and other companies and stuff like that do you think you’ll see more people trading them uh 100 um I think the prices will definitely go further down

55:40 and because the supply which means many more businesses project and some creating nfts will also lower the channel of price tag for these kind of things because that’s just way more supplier than demand sometimes or already actually uh but yeah it’s a cool way of engaging people of building a community it it’s yeah I think you know just having an nft and say well as scary V does it ignoring but if you own that specific animal and a team this week uh

56:20 you have a chance to jump onto a call with me all while um that’s cool yeah [Music] um more difficult with other things so definitely think so awesome thanks cool Kevin I want to say thank you um you are awesome man and I hope we hope to have you back keep up the good fight man and uh we’ll continue to follow you and what you’re doing and um again hopefully you can come back on

57:02 and talk a little bit more about how to finish these uh these conversations yeah sure um I said thanks everyone uh for being here and yeah it’s really a pleasure I hope uh it helped oh yeah I’m really standing