{"version":"1.0.0","segments":[{"startTime":3.51,"endTime":6.48,"body":"Welcome back to another episode of The"},{"startTime":3.51,"endTime":6.48,"body":"Digital Village Show, where we tackle"},{"startTime":6.48,"endTime":10.26,"body":"issues that impact people, the economy,"},{"startTime":6.48,"endTime":10.26,"body":"and the planet from a technology angle."},{"startTime":11.16,"endTime":14.34,"body":"We're back, New week, new"},{"startTime":11.16,"endTime":14.34,"body":"episode, and a new cohost."},{"startTime":14.4,"endTime":17.61,"body":"The voice that you would've heard"},{"startTime":14.4,"endTime":17.61,"body":"during these intros and outros each."},{"startTime":18.395,"endTime":24.125,"body":"So myself, Chris, and Luke will be, uh,"},{"startTime":18.395,"endTime":24.125,"body":"welcoming Mark Mumford in today's episode."},{"startTime":24.485,"endTime":27.815,"body":"He is a data technologist with the"},{"startTime":24.485,"endTime":27.815,"body":"background in capital markets and more"},{"startTime":27.815,"endTime":31.205,"body":"recently all things Defi and Web 3.0."},{"startTime":31.325,"endTime":34.325,"body":"Co-founder of the new Australian"},{"startTime":31.325,"endTime":34.325,"body":"Web through 0.0 focus, business not"},{"startTime":34.33,"endTime":38.945,"body":"centralized, and co-founder of one of"},{"startTime":34.33,"endTime":38.945,"body":"the rapidly growing community groups."},{"startTime":39.004,"endTime":43.415,"body":"OSD five, focusing on bringing Web three"},{"startTime":39.004,"endTime":43.415,"body":"Bruno communities together here in Sydney."},{"startTime":43.925,"endTime":44.525,"body":"Welcome, Mark."},{"startTime":44.525,"endTime":45.875,"body":"In today's episode as."},{"startTime":46.145,"endTime":49.055,"body":"Explore how blockchain tech"},{"startTime":46.145,"endTime":49.055,"body":"is reducing the inefficiencies"},{"startTime":49.175,"endTime":50.825,"body":"of modern day transactions."},{"startTime":51.095,"endTime":57.785,"body":"Enjoying Welcome back to another episode"},{"startTime":51.095,"endTime":57.785,"body":"of Digital Village Show, Take two."},{"startTime":58.355,"endTime":59.074,"body":"Isn't that right?"},{"startTime":59.415,"endTime":60.464,"body":"Yes."},{"startTime":60.495,"endTime":64.394,"body":"We tried to record this a couple"},{"startTime":60.495,"endTime":64.394,"body":"weeks ago, but we were met with a very"},{"startTime":64.485,"endTime":70.575,"body":"thunders outdoor reception with Jack"},{"startTime":64.485,"endTime":70.575,"body":"hammering and yeah, I don't know, just"},{"startTime":70.575,"endTime":73.485,"body":"sounded like there was a Jack Jack"},{"startTime":70.575,"endTime":73.485,"body":"Hammer's road works the whole deal."},{"startTime":73.515,"endTime":73.725,"body":"Yeah."},{"startTime":73.725,"endTime":76.185,"body":"Jack needs to not hammer at those times."},{"startTime":76.185,"endTime":78.315,"body":"It wasn't fair, Jack, if you"},{"startTime":76.185,"endTime":78.315,"body":"were out there front door."},{"startTime":78.375,"endTime":79.335,"body":"It's incredibly rude of him."},{"startTime":79.335,"endTime":81.595,"body":"I'm like, we went outside, we said, Hey."},{"startTime":82.2,"endTime":85.259,"body":"Calm farm and he just looked"},{"startTime":82.2,"endTime":85.259,"body":"at us and continued jacket."},{"startTime":85.259,"endTime":87.87,"body":"He continued indeed,"},{"startTime":85.259,"endTime":87.87,"body":"actually got closer to us."},{"startTime":87.875,"endTime":88.69,"body":"He did All the time."},{"startTime":88.69,"endTime":88.89,"body":"Yes."},{"startTime":89.729,"endTime":92.65,"body":"just inch closer and closer and"},{"startTime":89.729,"endTime":92.65,"body":"closer, and it's very engaged."},{"startTime":92.7,"endTime":93.479,"body":"Louder and louder."},{"startTime":93.9,"endTime":95.33,"body":"Well, we're here now, so we're here now."},{"startTime":95.5,"endTime":97.979,"body":"We, we had a good rhythm of conversation."},{"startTime":98.22,"endTime":99.21,"body":"We looked back at the audio."},{"startTime":99.21,"endTime":101.55,"body":"It was, it was pretty much"},{"startTime":99.21,"endTime":101.55,"body":"unusable with everything going on."},{"startTime":102.255,"endTime":105.195,"body":"Um, Mark, thank you for your time"},{"startTime":102.255,"endTime":105.195,"body":"coming back to join us for a take two."},{"startTime":105.675,"endTime":107.265,"body":"Um, good to be back."},{"startTime":107.325,"endTime":107.745,"body":"Yeah."},{"startTime":107.745,"endTime":111.255,"body":"So Mark, I'll do, you know, I'll go"},{"startTime":107.745,"endTime":111.255,"body":"through the intros and stuff again,"},{"startTime":111.255,"endTime":113.595,"body":"even though you know it is take"},{"startTime":111.255,"endTime":113.595,"body":"two of this thing, we've done it"},{"startTime":113.6,"endTime":116.445,"body":"already and you know, those moments"},{"startTime":113.6,"endTime":116.445,"body":"where I wanna hear it again, Chris."},{"startTime":116.475,"endTime":118.695,"body":"Well, you know, those moments where"},{"startTime":116.475,"endTime":118.695,"body":"you're prepared for the podcast."},{"startTime":118.994,"endTime":120.044,"body":"Yeah, in the last one."},{"startTime":120.05,"endTime":120.214,"body":"Mm-hmm."},{"startTime":120.294,"endTime":121.184,"body":", you've got everything memorized."},{"startTime":121.184,"endTime":123.794,"body":"You'd have a good rhythm and"},{"startTime":121.184,"endTime":123.794,"body":"you're like, Oh, it doesn't work."},{"startTime":123.794,"endTime":124.544,"body":"We've gotta do it again."},{"startTime":124.544,"endTime":127.035,"body":"You come back the week later, but"},{"startTime":124.544,"endTime":127.035,"body":"you did not put in the same amount"},{"startTime":127.035,"endTime":128.595,"body":"of you until preparation effort."},{"startTime":128.595,"endTime":129.134,"body":"I got it."},{"startTime":129.139,"endTime":129.414,"body":"Yeah."},{"startTime":129.419,"endTime":129.555,"body":"Yeah."},{"startTime":129.555,"endTime":130.155,"body":"I know it all."},{"startTime":130.215,"endTime":130.695,"body":"You didn't."},{"startTime":130.695,"endTime":131.894,"body":"I I, No, I did not."},{"startTime":134.055,"endTime":136.695,"body":"I mean, you don't have, I mean, you"},{"startTime":134.055,"endTime":136.695,"body":"live and breathe this, don't you?"},{"startTime":136.695,"endTime":137.174,"body":"Yeah."},{"startTime":137.265,"endTime":140.805,"body":"We've been busy living and breathing"},{"startTime":137.265,"endTime":140.805,"body":"this really, So it's all good."},{"startTime":141.315,"endTime":142.575,"body":"Um, but welcome Luke."},{"startTime":142.725,"endTime":143.655,"body":"Uh, Thank you for joining us."},{"startTime":144.42,"endTime":148.86,"body":"Um, I am, uh, I'm filling in for Paul"},{"startTime":144.42,"endTime":148.86,"body":"who is still traveling wildly overseas."},{"startTime":148.86,"endTime":150.45,"body":"Our, our normal, incredible."},{"startTime":151.23,"endTime":154.53,"body":"Um, who partners alongside Luke for"},{"startTime":151.23,"endTime":154.53,"body":"most of these, most of these shows"},{"startTime":154.74,"endTime":156.33,"body":"joining himself in the Greek Islands."},{"startTime":156.42,"endTime":156.48,"body":"Wow."},{"startTime":156.48,"endTime":156.81,"body":"Yeah."},{"startTime":156.93,"endTime":157.77,"body":"Just so jealous."},{"startTime":157.77,"endTime":160.05,"body":"Some of the things that he's doing"},{"startTime":157.77,"endTime":160.05,"body":"over, I wish I could be there right now."},{"startTime":160.05,"endTime":162.09,"body":"I can tell you that we're going"},{"startTime":160.05,"endTime":162.09,"body":"there straight after this."},{"startTime":162.18,"endTime":164.67,"body":"Oh, yeah, That's, Oh, you"},{"startTime":162.18,"endTime":164.67,"body":"booked our apply to us."},{"startTime":164.79,"endTime":165.12,"body":"Thank you."},{"startTime":165.12,"endTime":166.02,"body":"Awesome courtesy."},{"startTime":166.38,"endTime":167.49,"body":"That's got him on it."},{"startTime":167.495,"endTime":168.03,"body":"It's in the Metaverse."},{"startTime":169.35,"endTime":170.7,"body":"I mean, that's just as"},{"startTime":169.35,"endTime":170.7,"body":"fun and just as good."},{"startTime":170.7,"endTime":171.24,"body":"We'll talk about that."},{"startTime":171.24,"endTime":174.97,"body":"We'll, Um, and call out to the"},{"startTime":171.24,"endTime":174.97,"body":"location here at the Macari."},{"startTime":174.97,"endTime":176.38,"body":"Guys, thanks for the location."},{"startTime":176.38,"endTime":177.07,"body":"Thanks for the equipment."},{"startTime":177.07,"endTime":177.94,"body":"Amazing venue."},{"startTime":178.089,"endTime":178.39,"body":"Yeah."},{"startTime":178.57,"endTime":180.549,"body":"Much easier to set up shows"},{"startTime":178.57,"endTime":180.549,"body":"now than, yeah, than we've"},{"startTime":180.549,"endTime":181.48,"body":"been able to do in the past."},{"startTime":182.049,"endTime":187.029,"body":"Um, but today, Mark data technologist"},{"startTime":182.049,"endTime":187.029,"body":"background in capital markets."},{"startTime":187.66,"endTime":191.38,"body":"More recently, some really exciting"},{"startTime":187.66,"endTime":191.38,"body":"things to do with, uh, the odds Defi."},{"startTime":191.529,"endTime":191.619,"body":"Yep."},{"startTime":191.649,"endTime":193.69,"body":"Events that we've been running,"},{"startTime":191.649,"endTime":193.69,"body":"I've been helping you along with."},{"startTime":194.37,"endTime":198.6,"body":"Um, you've also got not centralized,"},{"startTime":194.37,"endTime":198.6,"body":"which I got a really sick jumper"},{"startTime":198.69,"endTime":201.57,"body":"for, um, yesterday, which I've been"},{"startTime":198.69,"endTime":201.57,"body":"loving and wearing religiously."},{"startTime":201.57,"endTime":202.23,"body":"Oh, right."},{"startTime":202.23,"endTime":205.17,"body":"And I've been pushing now Digital"},{"startTime":202.23,"endTime":205.17,"body":"Village to, to get the same swag."},{"startTime":205.799,"endTime":206.88,"body":"So much about swag, huh?"},{"startTime":206.91,"endTime":207.09,"body":"Yep."},{"startTime":207.81,"endTime":208.35,"body":". We've gotta get on it."},{"startTime":208.53,"endTime":212.76,"body":"We've gotta get, um, uh, but mate, you"},{"startTime":208.53,"endTime":212.76,"body":"took a step outta the corporate life."},{"startTime":212.79,"endTime":212.88,"body":"Mm-hmm."},{"startTime":213.12,"endTime":213.78,"body":"startups."},{"startTime":213.84,"endTime":217.56,"body":"Um, and to enter this sort of"},{"startTime":213.84,"endTime":217.56,"body":"growing market around, I guess Web"},{"startTime":217.56,"endTime":224.34,"body":"three and, and, uh, and defi in"},{"startTime":217.56,"endTime":224.34,"body":"itself, um, Co-founder, uh, of the"},{"startTime":224.345,"endTime":227.34,"body":"Australian Web three point no focus"},{"startTime":224.345,"endTime":227.34,"body":"businesses not centralized co-founder"},{"startTime":227.34,"endTime":228.54,"body":"of the rapidly growing community."},{"startTime":228.54,"endTime":232.2,"body":"I was def a as mentioned before,"},{"startTime":228.54,"endTime":232.2,"body":"focusing on web three communities, um,"},{"startTime":232.205,"endTime":234.09,"body":"bringing together here in Sydney and all."},{"startTime":234.09,"endTime":237.12,"body":"And even most excitingly,"},{"startTime":234.09,"endTime":237.12,"body":"you're now all over the country."},{"startTime":237.3,"endTime":237.72,"body":"Yeah."},{"startTime":237.81,"endTime":238.71,"body":"Five states."},{"startTime":238.71,"endTime":240.24,"body":"What the heck, How that happen?"},{"startTime":240.24,"endTime":241.95,"body":"That's in the last couple"},{"startTime":240.24,"endTime":241.95,"body":"of weeks as well, right?"},{"startTime":242.1,"endTime":243.57,"body":"Yeah, last two months."},{"startTime":243.57,"endTime":244.11,"body":"Really amazing."},{"startTime":244.11,"endTime":247.29,"body":"And we just hit, uh, a"},{"startTime":244.11,"endTime":247.29,"body":"thousand plus people, members"},{"startTime":247.29,"endTime":248.34,"body":"on our disco channel alone."},{"startTime":249.0,"endTime":250.26,"body":"Very engaged members."},{"startTime":250.26,"endTime":251.489,"body":"So it's uh, very exciting."},{"startTime":251.609,"endTime":253.709,"body":"Yeah, they're very engaged,"},{"startTime":251.609,"endTime":253.709,"body":"very fast community."},{"startTime":253.714,"endTime":254.64,"body":"Yeah, yeah, yeah."},{"startTime":254.64,"endTime":255.299,"body":"All about community."},{"startTime":255.299,"endTime":256.26,"body":"They got something to say."},{"startTime":256.409,"endTime":257.07,"body":"Absolutely."},{"startTime":257.31,"endTime":258.779,"body":"Tell us a bit about the disco channel."},{"startTime":258.784,"endTime":259.62,"body":"What's happening there right now?"},{"startTime":259.86,"endTime":265.409,"body":"Uh, a lot of regulatory talk because"},{"startTime":259.86,"endTime":265.409,"body":"of tornado cash and the OFAC sanctions"},{"startTime":265.409,"endTime":269.76,"body":"and seeing that holy crap, developers"},{"startTime":265.409,"endTime":269.76,"body":"can go to jail for writing code."},{"startTime":270.03,"endTime":270.75,"body":"What does that mean?"},{"startTime":270.75,"endTime":270.81,"body":"Yeah."},{"startTime":270.84,"endTime":272.37,"body":"What does that mean for"},{"startTime":270.84,"endTime":272.37,"body":"the thing I'm building?"},{"startTime":272.82,"endTime":273.87,"body":"Where do I base myself?"},{"startTime":274.08,"endTime":276.39,"body":"All of these things are being discussed."},{"startTime":276.39,"endTime":277.56,"body":"The whole censorship discuss."},{"startTime":278.445,"endTime":283.364,"body":"How much we need to centralize"},{"startTime":278.445,"endTime":283.364,"body":"versus decentralize, and it's just"},{"startTime":283.364,"endTime":285.674,"body":"a very interesting debate going on."},{"startTime":285.674,"endTime":288.614,"body":"But the point is that we're"},{"startTime":285.674,"endTime":288.614,"body":"moving the conversations forward."},{"startTime":288.614,"endTime":292.724,"body":"It's being done in the public eye,"},{"startTime":288.614,"endTime":292.724,"body":"and it is just something that we"},{"startTime":292.729,"endTime":296.835,"body":"need to engage in if we're gonna go"},{"startTime":292.729,"endTime":296.835,"body":"anywhere, because we can't just sit"},{"startTime":296.835,"endTime":300.044,"body":"in our little bubble and expect the"},{"startTime":296.835,"endTime":300.044,"body":"whole world to revolve around us."},{"startTime":300.044,"endTime":302.174,"body":"It doesn't work that way"},{"startTime":300.044,"endTime":302.174,"body":"and a great medium to have"},{"startTime":302.174,"endTime":303.255,"body":"those engaging conversations."},{"startTime":303.255,"endTime":304.664,"body":"Like it's, it's been"},{"startTime":303.255,"endTime":304.664,"body":"pretty amazing to see."},{"startTime":305.37,"endTime":305.82,"body":"Involved."},{"startTime":305.82,"endTime":306.87,"body":"Everyone is in that space."},{"startTime":306.87,"endTime":307.11,"body":"In it."},{"startTime":307.17,"endTime":307.56,"body":"Yeah."},{"startTime":307.65,"endTime":308.46,"body":"You were an early member."},{"startTime":308.46,"endTime":309.03,"body":"I, yeah."},{"startTime":309.24,"endTime":311.31,"body":"I remember when it was"},{"startTime":309.24,"endTime":311.31,"body":"only like 50 people."},{"startTime":311.31,"endTime":313.89,"body":"When you first poured everyone over"},{"startTime":311.31,"endTime":313.89,"body":"from a WhatsApp group, It was, uh,"},{"startTime":313.95,"endTime":315.27,"body":"We were a crazy WhatsApp group."},{"startTime":315.36,"endTime":315.45,"body":"Yeah."},{"startTime":315.45,"endTime":316.32,"body":"With too hard."},{"startTime":316.844,"endTime":319.965,"body":"To keep track of like all the"},{"startTime":316.844,"endTime":319.965,"body":"messages you'd leave for a day."},{"startTime":319.965,"endTime":321.645,"body":"There's 200 messages going on."},{"startTime":321.765,"endTime":322.484,"body":"Yeah."},{"startTime":322.515,"endTime":324.284,"body":"So we needed to do something different."},{"startTime":324.284,"endTime":326.924,"body":"So Chris was gladly a part of"},{"startTime":324.284,"endTime":326.924,"body":"the, the whole discord whilst"},{"startTime":326.924,"endTime":328.424,"body":"we were still figuring it out."},{"startTime":328.515,"endTime":329.835,"body":"And, um, yeah, now look at us."},{"startTime":330.375,"endTime":331.125,"body":"It's been great."},{"startTime":331.185,"endTime":332.984,"body":"Um, but we've got a"},{"startTime":331.185,"endTime":332.984,"body":"great topic today, mate."},{"startTime":333.195,"endTime":335.534,"body":"Uh, something that, you know,"},{"startTime":333.195,"endTime":335.534,"body":"we've, as we've mentioned, we've"},{"startTime":335.565,"endTime":336.495,"body":"been working together in a while."},{"startTime":336.495,"endTime":337.635,"body":"You've been at it even longer."},{"startTime":338.055,"endTime":341.534,"body":"Um, and despite some of its recent"},{"startTime":338.055,"endTime":341.534,"body":"pa uh, recent pains that we've been"},{"startTime":341.534,"endTime":345.809,"body":"experiencing in the market the last"},{"startTime":341.534,"endTime":345.809,"body":"six months, um, Conceptually what"},{"startTime":345.809,"endTime":350.25,"body":"it means for, but conceptually what"},{"startTime":345.809,"endTime":350.25,"body":"it means to business as we know it."},{"startTime":350.309,"endTime":350.4,"body":"Mm-hmm."},{"startTime":350.64,"endTime":355.14,"body":", how we trade, how we communicate, how we"},{"startTime":350.64,"endTime":355.14,"body":"engage, and even alternatively experience,"},{"startTime":355.32,"endTime":359.52,"body":"um, that it opens up from the arts, um,"},{"startTime":355.32,"endTime":359.52,"body":"from culture down to the personalization,"},{"startTime":359.52,"endTime":360.929,"body":"identification aspects of things."},{"startTime":361.26,"endTime":365.07,"body":"Um, so web through and o blockchain,"},{"startTime":361.26,"endTime":365.07,"body":"Dows, NFTs, and cryptos, um, it's."},{"startTime":365.925,"endTime":367.875,"body":"To many people, like it's one"},{"startTime":365.925,"endTime":367.875,"body":"of those things that sort of"},{"startTime":367.88,"endTime":368.895,"body":"sits in the background, right?"},{"startTime":368.895,"endTime":372.945,"body":"Like you hear about the news, we"},{"startTime":368.895,"endTime":372.945,"body":"have all the scams, controversial"},{"startTime":372.945,"endTime":375.015,"body":"scams activities that happen."},{"startTime":375.015,"endTime":376.995,"body":"But you ever get to hear about"},{"startTime":375.015,"endTime":376.995,"body":"the bad things, don't you?"},{"startTime":377.055,"endTime":377.745,"body":"Yeah."},{"startTime":377.745,"endTime":377.746,"body":"Yeah."},{"startTime":377.955,"endTime":379.935,"body":"The internet had the same thing as well."},{"startTime":380.355,"endTime":384.045,"body":"You know, Facebook and all these things,"},{"startTime":380.355,"endTime":384.045,"body":"MySpace, they all had the negative"},{"startTime":384.495,"endTime":387.585,"body":"kind of things before they became"},{"startTime":384.495,"endTime":387.585,"body":"mainstream, and we're always evolving."},{"startTime":387.645,"endTime":390.225,"body":"But if you get involved, like you"},{"startTime":387.645,"endTime":390.225,"body":"realize how engaged and how helpful the"},{"startTime":390.225,"endTime":392.655,"body":"community is with those things, which"},{"startTime":390.225,"endTime":392.655,"body":"is what's, You gotta look beneath."},{"startTime":392.775,"endTime":393.045,"body":"Yeah."},{"startTime":393.045,"endTime":393.715,"body":"Under the hood."},{"startTime":394.155,"endTime":396.705,"body":"Beneath the headlines, whatever"},{"startTime":394.155,"endTime":396.705,"body":"the analogy is, you just,"},{"startTime":396.975,"endTime":398.145,"body":"it's doing research, right?"},{"startTime":398.145,"endTime":399.095,"body":"Like it's it."},{"startTime":399.675,"endTime":403.365,"body":"There's so much free information"},{"startTime":399.675,"endTime":403.365,"body":"out there as well that um, it"},{"startTime":403.365,"endTime":404.385,"body":"just takes a little bit of effort."},{"startTime":404.715,"endTime":406.425,"body":"And some people won't"},{"startTime":404.715,"endTime":406.425,"body":"do that and that's okay."},{"startTime":406.725,"endTime":407.985,"body":"Cause there's always anything."},{"startTime":407.985,"endTime":411.495,"body":"You guys know this as the early adopters"},{"startTime":407.985,"endTime":411.495,"body":"before it becomes more mainstream."},{"startTime":411.495,"endTime":414.645,"body":"And then by the time it is mainstream,"},{"startTime":411.495,"endTime":414.645,"body":"people won't even realize that"},{"startTime":414.645,"endTime":417.105,"body":"there's blockchain tech underpinning"},{"startTime":414.645,"endTime":417.105,"body":"some of the stuff that they're"},{"startTime":417.105,"endTime":420.975,"body":"already using it, They're already"},{"startTime":417.105,"endTime":420.975,"body":"using it, They don't, no one cares"},{"startTime":420.975,"endTime":422.445,"body":"about, Oh, what chip have you got?"},{"startTime":422.445,"endTime":425.265,"body":"Or maybe some people do your"},{"startTime":422.445,"endTime":425.265,"body":"computer, your phone and all that,"},{"startTime":425.565,"endTime":427.245,"body":"but Netflix, What software do they."},{"startTime":428.49,"endTime":429.39,"body":", guess you just use it."},{"startTime":429.69,"endTime":431.94,"body":"So there's gonna be that tail"},{"startTime":429.69,"endTime":431.94,"body":"end or maybe not tail end."},{"startTime":431.94,"endTime":435.33,"body":"The majority that'll just not even"},{"startTime":431.94,"endTime":435.33,"body":"realize it's, and it'll just be there."},{"startTime":435.33,"endTime":438.45,"body":"But it's up to us now to build, This"},{"startTime":435.33,"endTime":438.45,"body":"comes into the sort of space that I live"},{"startTime":438.45,"endTime":441.75,"body":"and breathe in, which is, it's, it's"},{"startTime":438.45,"endTime":441.75,"body":"more about the user experience than it is"},{"startTime":441.75,"endTime":444.3,"body":"about what it is that sets it gets done."},{"startTime":444.3,"endTime":445.02,"body":"Right, Exactly right."},{"startTime":445.44,"endTime":449.88,"body":"If the experience is good, if it's a"},{"startTime":445.44,"endTime":449.88,"body":"seamless engagement between the, the, the"},{"startTime":449.885,"endTime":453.99,"body":"desired outcome and how they get there"},{"startTime":449.885,"endTime":453.99,"body":"doesn't really matter what the tech is."},{"startTime":453.995,"endTime":454.29,"body":"Right."},{"startTime":454.32,"endTime":455.76,"body":"For example, yeah."},{"startTime":455.76,"endTime":456.54,"body":"Get to watch my shows."},{"startTime":456.54,"endTime":457.08,"body":"I don't care how it."},{"startTime":457.724,"endTime":458.955,"body":"So it's an interesting point."},{"startTime":458.955,"endTime":463.755,"body":"If it is about the experience more than"},{"startTime":458.955,"endTime":463.755,"body":"the tech that's underlying it, then the"},{"startTime":463.755,"endTime":465.585,"body":"obvious question would be why web three?"},{"startTime":466.395,"endTime":466.695,"body":"Yeah."},{"startTime":466.905,"endTime":472.034,"body":"Um, well, in terms of that experience,"},{"startTime":466.905,"endTime":472.034,"body":"people, we've wondered like, why are we"},{"startTime":472.094,"endTime":473.685,"body":"trying to do things on the blockchain?"},{"startTime":473.715,"endTime":477.375,"body":"And there's a really good, uh, there's"},{"startTime":473.715,"endTime":477.375,"body":"a couple of infographics that showcase"},{"startTime":477.375,"endTime":481.635,"body":"this, but they show that web one,"},{"startTime":477.375,"endTime":481.635,"body":"the early days of the internet, which"},{"startTime":481.635,"endTime":483.885,"body":"funnily enough was decentralized."},{"startTime":484.005,"endTime":484.965,"body":"It was, we, you know?"},{"startTime":484.965,"endTime":485.115,"body":"Yeah."},{"startTime":485.12,"endTime":486.435,"body":"It wasn't all centralized back then."},{"startTime":486.855,"endTime":489.705,"body":"We had to go from decentralized"},{"startTime":486.855,"endTime":489.705,"body":"where it was only read only,"},{"startTime":489.765,"endTime":493.995,"body":"and sure people obviously could"},{"startTime":489.765,"endTime":493.995,"body":"put things onto the internet."},{"startTime":494.025,"endTime":494.115,"body":"Mm-hmm."},{"startTime":494.355,"endTime":496.185,"body":", but there weren't tools"},{"startTime":494.355,"endTime":496.185,"body":"readily made for that."},{"startTime":496.185,"endTime":500.985,"body":"We didn't have blogging sites or"},{"startTime":496.185,"endTime":500.985,"body":"Instagram or Facebook or YouTube."},{"startTime":500.985,"endTime":504.105,"body":"But when those things started"},{"startTime":500.985,"endTime":504.105,"body":"coming out, that was the dawn"},{"startTime":504.11,"endTime":505.965,"body":"of the age of Reed and write."},{"startTime":506.294,"endTime":511.125,"body":"And people became influencers"},{"startTime":506.294,"endTime":511.125,"body":"and famous for good or for worse."},{"startTime":511.155,"endTime":511.424,"body":"Yeah."},{"startTime":511.484,"endTime":512.924,"body":"With your content out there, easy."},{"startTime":512.924,"endTime":513.314,"body":"Right?"},{"startTime":513.525,"endTime":514.095,"body":"Much better."},{"startTime":514.095,"endTime":516.615,"body":"Much easier to write and share."},{"startTime":516.735,"endTime":519.674,"body":"Um, but you were the product yourself."},{"startTime":519.765,"endTime":520.755,"body":"You, Yeah."},{"startTime":520.814,"endTime":521.025,"body":"Sure."},{"startTime":521.025,"endTime":521.684,"body":"Some people get paid."},{"startTime":522.315,"endTime":527.055,"body":"You know, we see YouTubes get paid good"},{"startTime":522.315,"endTime":527.055,"body":"amounts of money if you're popular, but"},{"startTime":527.055,"endTime":531.145,"body":"in other channels, TOS, link, Instagram,"},{"startTime":527.055,"endTime":531.145,"body":"they all have sort of paid services in"},{"startTime":531.145,"endTime":532.635,"body":"other, in some of the global markets."},{"startTime":532.665,"endTime":536.565,"body":"And you might not get paid necessarily"},{"startTime":532.665,"endTime":536.565,"body":"from that app itself, but just by be being"},{"startTime":536.565,"endTime":539.145,"body":"there and having such a large following,"},{"startTime":536.565,"endTime":539.145,"body":"you can get sponsorships and stuff."},{"startTime":539.145,"endTime":540.525,"body":"So people monetize the profile, right?"},{"startTime":540.555,"endTime":545.535,"body":"You might times right, but you still"},{"startTime":540.555,"endTime":545.535,"body":"are not the owners of your data."},{"startTime":546.015,"endTime":549.375,"body":"I can't just pick up my data off"},{"startTime":546.015,"endTime":549.375,"body":"Instagram and then I want to take it"},{"startTime":549.705,"endTime":553.305,"body":"and all my followers and put it on like"},{"startTime":549.705,"endTime":553.305,"body":"another app, and it's just too hard."},{"startTime":553.305,"endTime":555.525,"body":"You are the product and when"},{"startTime":553.305,"endTime":555.525,"body":"something is free, people need to"},{"startTime":555.525,"endTime":556.905,"body":"realize that you are the product."},{"startTime":556.905,"endTime":557.925,"body":"That's what's happening to you."},{"startTime":557.93,"endTime":561.915,"body":"But Web three is shifting"},{"startTime":557.93,"endTime":561.915,"body":"that further because it's all"},{"startTime":561.915,"endTime":563.175,"body":"about continuous improvement."},{"startTime":563.865,"endTime":565.245,"body":"It's moving it from the read."},{"startTime":565.694,"endTime":568.694,"body":"Then to read, write, and now"},{"startTime":565.694,"endTime":568.694,"body":"it's read right and share value."},{"startTime":568.905,"endTime":572.925,"body":"And what that means is that"},{"startTime":568.905,"endTime":572.925,"body":"people can become owners of a"},{"startTime":572.925,"endTime":574.365,"body":"more decentralized protocol."},{"startTime":574.365,"endTime":580.275,"body":"So imagine an Uber where, yeah, you are"},{"startTime":574.365,"endTime":580.275,"body":"a user of Uber and maybe you drive for"},{"startTime":580.275,"endTime":583.965,"body":"Uber as well, but you can own tokens"},{"startTime":580.275,"endTime":583.965,"body":"which are effectively kind of like"},{"startTime":583.965,"endTime":588.885,"body":"shares where if that company or that"},{"startTime":583.965,"endTime":588.885,"body":"protocol is doing, You actually get"},{"startTime":588.885,"endTime":590.385,"body":"to see the upside from that as well."},{"startTime":590.385,"endTime":594.285,"body":"So there's some people that might buy"},{"startTime":590.385,"endTime":594.285,"body":"tokens and don't actually participate in"},{"startTime":594.285,"endTime":599.775,"body":"whatever it is that that Uber type thing"},{"startTime":594.285,"endTime":599.775,"body":"does, but they can participate in being"},{"startTime":599.775,"endTime":602.085,"body":"a part owner and being able to vote."},{"startTime":602.475,"endTime":606.435,"body":"So right now you've got shares where"},{"startTime":602.475,"endTime":606.435,"body":"we can vote on who goes on the board."},{"startTime":606.435,"endTime":610.845,"body":"We can vote on other major things like"},{"startTime":606.435,"endTime":610.845,"body":"that, but we don't get to vote on things"},{"startTime":610.85,"endTime":613.155,"body":"like, Well, what research should we do?"},{"startTime":613.185,"endTime":615.855,"body":"Or what um, kind of"},{"startTime":613.185,"endTime":615.855,"body":"software should we use?"},{"startTime":616.65,"endTime":620.07,"body":"In a decentralized kind of"},{"startTime":616.65,"endTime":620.07,"body":"organization, they call them Dow,"},{"startTime":620.07,"endTime":622.11,"body":"decentralized autonomous organizations."},{"startTime":622.11,"endTime":625.89,"body":"Being a token holder means far"},{"startTime":622.11,"endTime":625.89,"body":"more that you are able to do."},{"startTime":626.4,"endTime":631.02,"body":"In a utopian kind of world, there's still"},{"startTime":626.4,"endTime":631.02,"body":"a lot of web self theoretical in itself."},{"startTime":631.02,"endTime":633.23,"body":"You have so many self theoretical,"},{"startTime":631.02,"endTime":633.23,"body":"varying blockchains, so many"},{"startTime":633.235,"endTime":634.98,"body":"experiments going on right now as well."},{"startTime":634.98,"endTime":639.93,"body":"So these things, um, we are still very"},{"startTime":634.98,"endTime":639.93,"body":"early in the space, so it's funny you"},{"startTime":640.38,"endTime":645.07,"body":"critiques, critics and critiques that"},{"startTime":640.38,"endTime":645.07,"body":"they bring are very well deserved."},{"startTime":645.56,"endTime":649.22,"body":"There's no denying them, but there is"},{"startTime":645.56,"endTime":649.22,"body":"so much more to it because we're still"},{"startTime":649.22,"endTime":653.03,"body":"very early in the space and a lot of"},{"startTime":649.22,"endTime":653.03,"body":"experimentation is being worked out"},{"startTime":653.03,"endTime":656.39,"body":"now and it's being done publicly so"},{"startTime":653.03,"endTime":656.39,"body":"that we can make better very quickly."},{"startTime":656.84,"endTime":658.16,"body":"So yeah, it's interesting."},{"startTime":658.22,"endTime":660.38,"body":"Yeah, I think that's the, one of"},{"startTime":658.22,"endTime":660.38,"body":"the most interesting things, right?"},{"startTime":660.38,"endTime":663.2,"body":"Is that all of this is"},{"startTime":660.38,"endTime":663.2,"body":"playing out very publicly."},{"startTime":663.205,"endTime":663.42,"body":"Mm-hmm."},{"startTime":663.71,"endTime":667.52,"body":", um, and very transparently, and I."},{"startTime":668.295,"endTime":671.025,"body":"You know, I guess one of the things"},{"startTime":668.295,"endTime":671.025,"body":"that happens is we get to hear all"},{"startTime":671.025,"endTime":674.055,"body":"the bad news stories and they're,"},{"startTime":671.025,"endTime":674.055,"body":"they're very, Anything that challenges"},{"startTime":674.055,"endTime":675.555,"body":"the market, challenges the norm."},{"startTime":675.765,"endTime":677.655,"body":"Like front, front page."},{"startTime":677.714,"endTime":678.224,"body":"Yeah, exactly."},{"startTime":678.285,"endTime":679.364,"body":"Other person gets hacked."},{"startTime":679.364,"endTime":679.515,"body":"Yeah."},{"startTime":679.515,"endTime":681.614,"body":"But so does everyone else on"},{"startTime":679.515,"endTime":681.614,"body":"their normal bank accounts."},{"startTime":681.795,"endTime":682.035,"body":"Yeah."},{"startTime":682.214,"endTime":685.844,"body":"Um, trade, fire, Well, traditional"},{"startTime":682.214,"endTime":685.844,"body":"fighters is what they call, uh, trade."},{"startTime":685.844,"endTime":688.094,"body":"Fire has, uh, a."},{"startTime":688.87,"endTime":690.46,"body":"Percentage of money laundering."},{"startTime":690.82,"endTime":696.04,"body":"Two to 5% of traditional finance"},{"startTime":690.82,"endTime":696.04,"body":"GDPs, uh, goes to, to money"},{"startTime":696.04,"endTime":698.38,"body":"laundering by United Nation Estimates."},{"startTime":698.39,"endTime":700.84,"body":"I I was gonna say, it's, it's"},{"startTime":698.39,"endTime":700.84,"body":"the established paradigm cuz"},{"startTime":700.84,"endTime":702.04,"body":"that's all you had before, right?"},{"startTime":702.515,"endTime":702.55,"body":"? Yeah."},{"startTime":703.03,"endTime":705.55,"body":"You wanna do money laundering"},{"startTime":703.03,"endTime":705.55,"body":"you had to do Yeah."},{"startTime":705.55,"endTime":706.93,"body":"Talk, talk to us about that."},{"startTime":706.93,"endTime":707.17,"body":"Exactly."},{"startTime":707.17,"endTime":708.7,"body":"You, you're a trad find native mm-hmm."},{"startTime":708.939,"endTime":709.42,"body":"in itself."},{"startTime":709.42,"endTime":711.88,"body":"Like what do, what are the"},{"startTime":709.42,"endTime":711.88,"body":"key distinguishes differences"},{"startTime":711.88,"endTime":715.39,"body":"between that sort of tread"},{"startTime":711.88,"endTime":715.39,"body":"fire in, I guess the, the defi?"},{"startTime":716.17,"endTime":716.56,"body":"Yeah."},{"startTime":716.564,"endTime":717.64,"body":"Well, the aspect of things."},{"startTime":718.815,"endTime":721.065,"body":"The whole point around centralization."},{"startTime":721.365,"endTime":724.545,"body":"Um, in traditional finance,"},{"startTime":721.365,"endTime":724.545,"body":"you have a lot of things."},{"startTime":724.545,"endTime":730.695,"body":"The, the data, the how that is all put"},{"startTime":724.545,"endTime":730.695,"body":"together and the ownership of the pro of,"},{"startTime":730.785,"endTime":734.205,"body":"you know, we've got protocols in the real"},{"startTime":730.785,"endTime":734.205,"body":"world, like protocols to make payments,"},{"startTime":734.205,"endTime":740.205,"body":"pro protocols to do transfers of funds"},{"startTime":734.205,"endTime":740.205,"body":"all around the world and to ensure people."},{"startTime":740.505,"endTime":744.855,"body":"But all of that, imagine if one day your"},{"startTime":740.505,"endTime":744.855,"body":"bank goes belly up and we've seen this"},{"startTime":744.855,"endTime":748.14,"body":"when there are, um, Economic crisis."},{"startTime":748.2,"endTime":750.99,"body":"And, uh, people have bank runs where"},{"startTime":748.2,"endTime":750.99,"body":"they're trying to get all their"},{"startTime":750.99,"endTime":753.6,"body":"money out, but then they can't,"},{"startTime":750.99,"endTime":753.6,"body":"They get stopped from doing that."},{"startTime":753.99,"endTime":757.41,"body":"Or there's war like in Ukraine"},{"startTime":753.99,"endTime":757.41,"body":"and Russia and people are getting"},{"startTime":757.41,"endTime":760.14,"body":"stopped at the borders and they're"},{"startTime":757.41,"endTime":760.14,"body":"not able to take their funds out."},{"startTime":760.59,"endTime":765.9,"body":"So that centralization and power,"},{"startTime":760.59,"endTime":765.9,"body":"which is okay, people are fine"},{"startTime":765.9,"endTime":768.03,"body":"with it until a problem happens."},{"startTime":768.03,"endTime":772.83,"body":"People were fine with MailChimp until"},{"startTime":768.03,"endTime":772.83,"body":"they decided as a company that they're not"},{"startTime":772.83,"endTime":774.63,"body":"gonna allow anything related to crypto."},{"startTime":775.035,"endTime":777.825,"body":"People were fine with"},{"startTime":775.035,"endTime":777.825,"body":"GitHub and are still fine."},{"startTime":777.825,"endTime":780.825,"body":"I still use GitHub, but the fact"},{"startTime":777.825,"endTime":780.825,"body":"that they can just switch off"},{"startTime":781.185,"endTime":785.595,"body":"someone from there is a bit of a"},{"startTime":781.185,"endTime":785.595,"body":"scary thing and people are realizing"},{"startTime":785.6,"endTime":787.025,"body":"more and more that we need to look."},{"startTime":787.665,"endTime":788.955,"body":"Uh, different ways."},{"startTime":788.955,"endTime":792.495,"body":"And I'm not saying that everything needs"},{"startTime":788.955,"endTime":792.495,"body":"to be decentralized cuz there are some"},{"startTime":792.495,"endTime":794.025,"body":"things that it just doesn't make sense."},{"startTime":794.025,"endTime":796.875,"body":"There's definitely a,"},{"startTime":794.025,"endTime":796.875,"body":"um, a spectrum of this."},{"startTime":796.875,"endTime":801.015,"body":"It's not black or white, but people"},{"startTime":796.875,"endTime":801.015,"body":"need to realize that there's,"},{"startTime":801.045,"endTime":805.455,"body":"um, dangers if everything is just"},{"startTime":801.045,"endTime":805.455,"body":"centralized into certain kind of powers."},{"startTime":805.515,"endTime":805.845,"body":"Yeah."},{"startTime":805.995,"endTime":809.385,"body":"There's like a, a real dichotomy"},{"startTime":805.995,"endTime":809.385,"body":"between, I guess, in attitudes"},{"startTime":809.595,"endTime":810.405,"body":"towards these things, right?"},{"startTime":810.405,"endTime":816.089,"body":"Because at on one hand we, we do"},{"startTime":810.405,"endTime":816.089,"body":"have private companies, Um, just"},{"startTime":816.3,"endTime":817.709,"body":"saying, No, we're not gonna do that."},{"startTime":818.04,"endTime":823.89,"body":"Um, and on the other hand, we have like"},{"startTime":818.04,"endTime":823.89,"body":"established banks, insurance companies,"},{"startTime":823.89,"endTime":829.02,"body":"federal banks, all really looking and"},{"startTime":823.89,"endTime":829.02,"body":"into like adopting blockchain technology."},{"startTime":829.14,"endTime":832.8,"body":"BlackRock, one of the biggest, or the"},{"startTime":829.14,"endTime":832.8,"body":"biggest asset manager in the world is"},{"startTime":832.86,"endTime":834.81,"body":"diving into it with a private trust."},{"startTime":834.814,"endTime":835.89,"body":"Yeah, no doubt."},{"startTime":835.89,"endTime":838.439,"body":"That is their first thing that"},{"startTime":835.89,"endTime":838.439,"body":"they're gonna do and offer to"},{"startTime":838.439,"endTime":839.459,"body":"clients, and it's just bitcoin."},{"startTime":840.435,"endTime":842.925,"body":"Major coins, but they're"},{"startTime":840.435,"endTime":842.925,"body":"gonna do so much more."},{"startTime":842.925,"endTime":843.855,"body":"It's the first step."},{"startTime":843.855,"endTime":846.885,"body":"Like we see mainstream coming"},{"startTime":843.855,"endTime":846.885,"body":"into it for sure, but I think"},{"startTime":846.885,"endTime":848.685,"body":"it's gonna be these trade offs."},{"startTime":848.685,"endTime":852.795,"body":"Like some will say no because they"},{"startTime":848.685,"endTime":852.795,"body":"don't want to bear the risk of ofac,"},{"startTime":853.185,"endTime":857.895,"body":"um, the Office of Foreign Assets and"},{"startTime":853.185,"endTime":857.895,"body":"Control, um, basically coming down on"},{"startTime":857.895,"endTime":863.415,"body":"them, or whether it's ASIC here or the"},{"startTime":857.895,"endTime":863.415,"body":"FCA in the UK and other jurisdictions."},{"startTime":863.444,"endTime":867.165,"body":"Um, there's gonna be a balance, but I"},{"startTime":863.444,"endTime":867.165,"body":"feel like there's gonna be more net."},{"startTime":868.17,"endTime":871.859,"body":"In this space, just from what we've seen"},{"startTime":868.17,"endTime":871.859,"body":"as technologists by background, having"},{"startTime":871.859,"endTime":876.9,"body":"worked in traditional finance and seeing"},{"startTime":871.859,"endTime":876.9,"body":"the ups and downs of, uh, technology"},{"startTime":876.9,"endTime":881.91,"body":"being adopted and evolving and being"},{"startTime":876.9,"endTime":881.91,"body":"too young at the time when Facebook was"},{"startTime":881.915,"endTime":886.65,"body":"coming out to take advantage of that"},{"startTime":881.915,"endTime":886.65,"body":"wave of web two, um, and inexperienced,"},{"startTime":886.65,"endTime":891.449,"body":"but now being more experienced and able"},{"startTime":886.65,"endTime":891.449,"body":"to do something and make my mark in this"},{"startTime":891.449,"endTime":893.91,"body":"space, you know my name, pun intended."},{"startTime":894.27,"endTime":897.06,"body":"Um, I feel like this is like"},{"startTime":894.27,"endTime":897.06,"body":"a really interesting time and."},{"startTime":897.615,"endTime":899.115,"body":"All walks of life in this space."},{"startTime":899.115,"endTime":902.775,"body":"The interesting thing I see is"},{"startTime":899.115,"endTime":902.775,"body":"that people, uh, no matter what"},{"startTime":902.775,"endTime":906.555,"body":"their background is ha, are all"},{"startTime":902.775,"endTime":906.555,"body":"seeing in some way, shape or"},{"startTime":906.555,"endTime":907.815,"body":"form how they can contribute."},{"startTime":908.385,"endTime":911.925,"body":", if they're in marketing, if they're in"},{"startTime":908.385,"endTime":911.925,"body":"operations, if they've just got ideas."},{"startTime":911.985,"endTime":914.745,"body":"There's a lot of different ways"},{"startTime":911.985,"endTime":914.745,"body":"that people can come into this batch"},{"startTime":914.745,"endTime":916.515,"body":"because it is so early stuff as well."},{"startTime":916.575,"endTime":919.365,"body":"Yeah, it's, it's early and it"},{"startTime":916.575,"endTime":919.365,"body":"provides a fundamental layer"},{"startTime":919.365,"endTime":920.415,"body":"of functionality, doesn't it?"},{"startTime":920.415,"endTime":923.985,"body":"That becomes suitable to"},{"startTime":920.415,"endTime":923.985,"body":"like many kinds of activity."},{"startTime":924.015,"endTime":926.715,"body":"It, It does, and the interesting"},{"startTime":924.015,"endTime":926.715,"body":"thing is in going back to the whole"},{"startTime":926.715,"endTime":928.725,"body":"centralization versus decentralization."},{"startTime":929.67,"endTime":931.8,"body":"When you work in other spaces,"},{"startTime":929.67,"endTime":931.8,"body":"you just join a startup."},{"startTime":931.8,"endTime":937.08,"body":"You join like one of the pay type"},{"startTime":931.8,"endTime":937.08,"body":"startups after pay, early pay before pay."},{"startTime":937.08,"endTime":939.0,"body":"I don't remember all"},{"startTime":937.08,"endTime":939.0,"body":"the, the names and stuff."},{"startTime":939.0,"endTime":939.84,"body":"There's a few of them, right?"},{"startTime":939.84,"endTime":942.21,"body":"Prepay, prepaid, prepay,"},{"startTime":939.84,"endTime":942.21,"body":"never pay, whatever."},{"startTime":942.26,"endTime":942.86,"body":"Yeah, whatever."},{"startTime":942.86,"endTime":944.22,"body":"It's  gonna pay later."},{"startTime":944.25,"endTime":948.12,"body":"Um, but all of those, and I'm just using"},{"startTime":944.25,"endTime":948.12,"body":"those cuz they're prominent, right?"},{"startTime":948.12,"endTime":948.18,"body":"Yeah."},{"startTime":948.27,"endTime":949.94,"body":"Um, so respect to them, but."},{"startTime":950.91,"endTime":952.2,"body":"You, you normally just join those."},{"startTime":952.2,"endTime":955.74,"body":"You don't think about regulation,"},{"startTime":952.2,"endTime":955.74,"body":"you don't think about, um, uh,"},{"startTime":955.77,"endTime":959.73,"body":"decentralization and philosophical kind"},{"startTime":955.77,"endTime":959.73,"body":"of motives around being in this space."},{"startTime":959.735,"endTime":963.45,"body":"But in the web three space, because"},{"startTime":959.735,"endTime":963.45,"body":"it is trying to shift the paradigm"},{"startTime":963.45,"endTime":964.89,"body":"towards more decentralized ownership."},{"startTime":965.73,"endTime":970.12,"body":"And I don't think, you know, it's"},{"startTime":965.73,"endTime":970.12,"body":"funny cuz the, the name I wear in the,"},{"startTime":970.26,"endTime":972.36,"body":"the web three space is Captain Defi."},{"startTime":972.54,"endTime":972.66,"body":"Yeah."},{"startTime":972.66,"endTime":976.26,"body":"So on the Twitter, on the"},{"startTime":972.66,"endTime":976.26,"body":"Discord, i, I go by that name."},{"startTime":976.35,"endTime":980.64,"body":"Um, but it doesn't mean that I'm"},{"startTime":976.35,"endTime":980.64,"body":"not pragmatic about how this works."},{"startTime":980.64,"endTime":984.63,"body":"Cause I've come from the other side"},{"startTime":980.64,"endTime":984.63,"body":"and I've seen both sides, the extremes."},{"startTime":984.63,"endTime":986.1,"body":"And I think it's gonna be"},{"startTime":984.63,"endTime":986.1,"body":"somewhere in the middle."},{"startTime":986.28,"endTime":986.459,"body":"Yeah."},{"startTime":986.49,"endTime":988.86,"body":"So do you think a, a certain"},{"startTime":986.49,"endTime":988.86,"body":"level of centralization will"},{"startTime":988.86,"endTime":990.87,"body":"be re required or helpful?"},{"startTime":991.41,"endTime":994.5,"body":"Yeah, purely because, um,"},{"startTime":991.41,"endTime":994.5,"body":"there's gonna be some things."},{"startTime":995.775,"endTime":1001.805,"body":", you don't want to be out on a public"},{"startTime":995.775,"endTime":1001.805,"body":"chain, as in medical records, for example."},{"startTime":1001.925,"endTime":1004.775,"body":"There are certain things that"},{"startTime":1001.925,"endTime":1004.775,"body":"may be in aggregate, it's okay"},{"startTime":1004.775,"endTime":1005.885,"body":"to put out on a public chain."},{"startTime":1006.275,"endTime":1009.785,"body":"I used to work for a software company"},{"startTime":1006.275,"endTime":1009.785,"body":"that used to do the, or maybe they"},{"startTime":1009.79,"endTime":1015.515,"body":"still do, um, the census data that"},{"startTime":1009.79,"endTime":1015.515,"body":"would get collected by the abs and"},{"startTime":1015.515,"endTime":1019.625,"body":"they would make sure that you can't"},{"startTime":1015.515,"endTime":1019.625,"body":"mix the census data with other"},{"startTime":1019.625,"endTime":1021.395,"body":"different data sets to try to figure."},{"startTime":1022.084,"endTime":1025.685,"body":"If you are the one doctor in a"},{"startTime":1022.084,"endTime":1025.685,"body":"correlations town to do correlations and"},{"startTime":1025.685,"endTime":1027.034,"body":"figure out, and you are the one that Dr."},{"startTime":1027.065,"endTime":1030.274,"body":"Not that we have this data, but like"},{"startTime":1027.065,"endTime":1030.274,"body":"you are the one that drives red Ferrari."},{"startTime":1030.274,"endTime":1033.365,"body":"We can figure out your medical"},{"startTime":1030.274,"endTime":1033.365,"body":"kind of records, but you could"},{"startTime":1033.365,"endTime":1036.484,"body":"potentially bring data sets together"},{"startTime":1033.365,"endTime":1036.484,"body":"to figure stuff like that out."},{"startTime":1036.484,"endTime":1041.315,"body":"So it is kind of dangerous, but"},{"startTime":1036.484,"endTime":1041.315,"body":"that's why, um, in centralized"},{"startTime":1041.315,"endTime":1044.405,"body":"world, they do certain things to"},{"startTime":1041.315,"endTime":1044.405,"body":"the data to make sure that that"},{"startTime":1044.405,"endTime":1045.815,"body":"kind of stuff can't be figured out."},{"startTime":1046.175,"endTime":1048.784,"body":"So medical records, birth"},{"startTime":1046.175,"endTime":1048.784,"body":"certificates, things like that."},{"startTime":1048.784,"endTime":1049.295,"body":"I just think."},{"startTime":1049.82,"endTime":1054.35,"body":"There are gonna be things and elements"},{"startTime":1049.82,"endTime":1054.35,"body":"of health and other kind of funky"},{"startTime":1054.379,"endTime":1058.43,"body":"records that people will not want"},{"startTime":1054.379,"endTime":1058.43,"body":"on chain, but there are benefits"},{"startTime":1058.43,"endTime":1059.9,"body":"to having parts of it on chain."},{"startTime":1059.9,"endTime":1061.129,"body":"So we're gonna work this out."},{"startTime":1061.46,"endTime":1064.1,"body":"The biggest thing to take away"},{"startTime":1061.46,"endTime":1064.1,"body":"from all this is that we're in"},{"startTime":1064.1,"endTime":1066.32,"body":"a great big global experiment."},{"startTime":1066.32,"endTime":1070.32,"body":"It's not like Australia's doing"},{"startTime":1066.32,"endTime":1070.32,"body":"their own thing in Defi, in nft."},{"startTime":1070.745,"endTime":1073.965,"body":"It's all over the world and we are"},{"startTime":1070.745,"endTime":1073.965,"body":"talking with people all over the world."},{"startTime":1073.965,"endTime":1075.425,"body":"It's the purpose of"},{"startTime":1073.965,"endTime":1075.425,"body":"decentralization, right?"},{"startTime":1075.425,"endTime":1079.625,"body":"Why don't get sleep ? It's apart from"},{"startTime":1075.425,"endTime":1079.625,"body":"events and stuff, there's just no"},{"startTime":1079.629,"endTime":1083.195,"body":"sleep in this space because you get"},{"startTime":1079.629,"endTime":1083.195,"body":"home and there's work to catch up on."},{"startTime":1083.195,"endTime":1085.655,"body":"There's the stuff that we do"},{"startTime":1083.195,"endTime":1085.655,"body":"here in terms of running events."},{"startTime":1085.659,"endTime":1085.845,"body":"We had."},{"startTime":1086.645,"endTime":1090.905,"body":"Um, calls in from Israel on Tuesday"},{"startTime":1086.645,"endTime":1090.905,"body":"and running an event and hanging out"},{"startTime":1090.905,"endTime":1094.205,"body":"with people and stuff after then going"},{"startTime":1090.905,"endTime":1094.205,"body":"straight into calls in the US after"},{"startTime":1094.205,"endTime":1097.625,"body":"getting home and stuff, and then trying"},{"startTime":1094.205,"endTime":1097.625,"body":"to figure out, like, there's no morning."},{"startTime":1097.625,"endTime":1100.925,"body":"So I do sleep in the morning from"},{"startTime":1097.625,"endTime":1100.925,"body":"about like, I don't know, 3:00 AM to"},{"startTime":1100.925,"endTime":1103.025,"body":"nine and then get into the office."},{"startTime":1103.03,"endTime":1105.185,"body":"So it's fun, but um, yeah."},{"startTime":1105.485,"endTime":1106.325,"body":"Are you rock and roll, Mark."},{"startTime":1106.685,"endTime":1107.195,"body":"Oh, love it."},{"startTime":1107.285,"endTime":1107.675,"body":"I love it."},{"startTime":1108.005,"endTime":1110.855,"body":"Without the groupies, unfortunately,"},{"startTime":1108.005,"endTime":1110.855,"body":"or fortunately, who knows?"},{"startTime":1111.395,"endTime":1115.175,"body":"But there's a lot that we need to"},{"startTime":1111.395,"endTime":1115.175,"body":"think about in terms of the philosophy."},{"startTime":1115.94,"endTime":1118.16,"body":"You know, why are we"},{"startTime":1115.94,"endTime":1118.16,"body":"going to decentralization?"},{"startTime":1118.16,"endTime":1119.72,"body":"Don't do it for the sake of doing it."},{"startTime":1119.72,"endTime":1122.63,"body":"And when we consult to companies,"},{"startTime":1119.72,"endTime":1122.63,"body":"and I'm sure you guys do it"},{"startTime":1122.63,"endTime":1124.73,"body":"too, you, we are hard on them."},{"startTime":1125.09,"endTime":1127.07,"body":"Like, Why are you even doing"},{"startTime":1125.09,"endTime":1127.07,"body":"this thing on the blockchain?"},{"startTime":1127.07,"endTime":1130.04,"body":"Why are you even thinking about"},{"startTime":1127.07,"endTime":1130.04,"body":"tokens or decentralization?"},{"startTime":1130.045,"endTime":1130.73,"body":"Why do you wanna do it?"},{"startTime":1130.73,"endTime":1135.77,"body":"As an nft, we can help them discover"},{"startTime":1130.73,"endTime":1135.77,"body":"those things, but they need to really"},{"startTime":1135.77,"endTime":1139.49,"body":"understand the trade offs and the pros"},{"startTime":1135.77,"endTime":1139.49,"body":"and cons of doing it, and not just go into"},{"startTime":1139.49,"endTime":1142.16,"body":"it blindly because that just permeates."},{"startTime":1142.715,"endTime":1146.135,"body":"The crap that we've seen in the"},{"startTime":1142.715,"endTime":1146.135,"body":"market prior to the bear market."},{"startTime":1146.135,"endTime":1148.235,"body":"Like it was just a lot of crap projects."},{"startTime":1148.235,"endTime":1152.855,"body":"And we know that in startups, 99% fail,"},{"startTime":1148.235,"endTime":1152.855,"body":"but because all the eyes of the world"},{"startTime":1152.86,"endTime":1154.535,"body":"are on crypto, we need to do better."},{"startTime":1154.925,"endTime":1155.225,"body":"Mm."},{"startTime":1155.585,"endTime":1155.945,"body":"Yeah."},{"startTime":1155.95,"endTime":1156.815,"body":"And how can they do better?"},{"startTime":1157.745,"endTime":1159.725,"body":"They can talk to folks"},{"startTime":1157.745,"endTime":1159.725,"body":"like Digital Village."},{"startTime":1159.725,"endTime":1161.185,"body":"I hear they're really, really good"},{"startTime":1161.645,"endTime":1164.165,"body":"Um, and they can talk to, not"},{"startTime":1161.645,"endTime":1164.165,"body":"centralized, but you know, it's"},{"startTime":1164.165,"endTime":1167.825,"body":"coming to meetups, it's joining and"},{"startTime":1164.165,"endTime":1167.825,"body":"being the community side of things."},{"startTime":1167.975,"endTime":1171.035,"body":"You know, meeting other people, knowing,"},{"startTime":1167.975,"endTime":1171.035,"body":"uh, we've talked about this, right?"},{"startTime":1171.035,"endTime":1171.095,"body":"Yeah."},{"startTime":1171.185,"endTime":1171.265,"body":"Yeah."},{"startTime":1171.27,"endTime":1172.185,"body":"In, in going to those communi."},{"startTime":1172.955,"endTime":1176.585,"body":"in web two when we built startups"},{"startTime":1172.955,"endTime":1176.585,"body":"and stuff before, whether within"},{"startTime":1176.585,"endTime":1180.515,"body":"another company or our own startups"},{"startTime":1176.585,"endTime":1180.515,"body":"we build in stealth, we wait"},{"startTime":1180.515,"endTime":1182.645,"body":"until it's like 70%, 80% there."},{"startTime":1182.675,"endTime":1185.375,"body":"We might take it to customers"},{"startTime":1182.675,"endTime":1185.375,"body":"and Friendlys and stuff, but we"},{"startTime":1185.38,"endTime":1188.195,"body":"don't go out to the public until"},{"startTime":1185.38,"endTime":1188.195,"body":"it's really right near there."},{"startTime":1188.435,"endTime":1188.615,"body":"Yeah."},{"startTime":1188.645,"endTime":1191.705,"body":"If you do that in the web three space,"},{"startTime":1188.645,"endTime":1191.705,"body":"what ends up happening is that people"},{"startTime":1191.705,"endTime":1194.045,"body":"don't get to participate in the upside."},{"startTime":1194.045,"endTime":1195.845,"body":"They don't get to"},{"startTime":1194.045,"endTime":1195.845,"body":"participate in the journey."},{"startTime":1195.845,"endTime":1197.945,"body":"They just see a finished product"},{"startTime":1195.845,"endTime":1197.945,"body":"and they're like, Okay, great."},{"startTime":1197.945,"endTime":1198.785,"body":"I'll just be a user."},{"startTime":1199.325,"endTime":1201.065,"body":"But you don't get that"},{"startTime":1199.325,"endTime":1201.065,"body":"opportunity to really."},{"startTime":1202.085,"endTime":1205.835,"body":"A community as much as you can when"},{"startTime":1202.085,"endTime":1205.835,"body":"you've just got an idea and people"},{"startTime":1205.835,"endTime":1209.505,"body":"worry about, Oh, ideas, someone's gonna"},{"startTime":1205.835,"endTime":1209.505,"body":"steer you don't trust either, do you?"},{"startTime":1209.585,"endTime":1209.885,"body":"They don't."},{"startTime":1210.065,"endTime":1210.425,"body":"Yeah."},{"startTime":1210.43,"endTime":1211.235,"body":"Or you don't earn trust."},{"startTime":1211.235,"endTime":1213.755,"body":"But the, you know, it's,"},{"startTime":1211.235,"endTime":1213.755,"body":"you don't earn the trust."},{"startTime":1213.755,"endTime":1216.845,"body":"It's hard to earn the trust when you"},{"startTime":1213.755,"endTime":1216.845,"body":"don't take people along the journey."},{"startTime":1217.325,"endTime":1220.235,"body":"And it's a different thing telling"},{"startTime":1217.325,"endTime":1220.235,"body":"people about the journey after the"},{"startTime":1220.235,"endTime":1223.685,"body":"fact, rather than showing them the"},{"startTime":1220.235,"endTime":1223.685,"body":"journey and bringing them along."},{"startTime":1224.075,"endTime":1228.245,"body":"And what is really eye-opening to"},{"startTime":1224.075,"endTime":1228.245,"body":"us was that we were like, Well,"},{"startTime":1228.305,"endTime":1229.835,"body":"someone's gonna steal our idea."},{"startTime":1230.405,"endTime":1231.095,"body":"It doesn't matter."},{"startTime":1231.155,"endTime":1232.445,"body":"Ideas are free."},{"startTime":1232.505,"endTime":1234.125,"body":"Execution is what matters."},{"startTime":1234.125,"endTime":1237.155,"body":"And if you are out there building"},{"startTime":1234.125,"endTime":1237.155,"body":"a community and making the"},{"startTime":1237.155,"endTime":1240.155,"body":"connections, it doesn't matter if"},{"startTime":1237.155,"endTime":1240.155,"body":"someone has a better idea or is"},{"startTime":1240.155,"endTime":1241.895,"body":"first to their post with an idea."},{"startTime":1242.225,"endTime":1245.015,"body":"If you execute better, you are"},{"startTime":1242.225,"endTime":1245.015,"body":"gonna be the one that succeeds."},{"startTime":1245.045,"endTime":1247.835,"body":"And we are still too early"},{"startTime":1245.045,"endTime":1247.835,"body":"to have competition anyway."},{"startTime":1248.165,"endTime":1252.095,"body":"Like it should be more about making the"},{"startTime":1248.165,"endTime":1252.095,"body":"pie a lot bigger rather than fighting"},{"startTime":1252.095,"endTime":1255.875,"body":"over the crumbs because effectively"},{"startTime":1252.095,"endTime":1255.875,"body":"we're not a major part of the market yet."},{"startTime":1256.145,"endTime":1257.435,"body":"We would be fighting over crumbs."},{"startTime":1257.435,"endTime":1257.735,"body":"What's the."},{"startTime":1258.425,"endTime":1259.475,"body":"Speaking my language, Mark."},{"startTime":1259.505,"endTime":1261.515,"body":"I mean, this is exactly the type"},{"startTime":1259.505,"endTime":1261.515,"body":"of thing that we love that I,"},{"startTime":1261.665,"endTime":1262.535,"body":"you know, Luke, what's that?"},{"startTime":1262.535,"endTime":1262.775,"body":"Food?"},{"startTime":1262.775,"endTime":1263.225,"body":"Absolutely."},{"startTime":1263.255,"endTime":1263.975,"body":"Well, food as well."},{"startTime":1263.975,"endTime":1264.215,"body":"Yeah."},{"startTime":1264.22,"endTime":1264.965,"body":"Oh yeah, that's high."},{"startTime":1264.965,"endTime":1266.465,"body":"That's definitely one"},{"startTime":1264.965,"endTime":1266.465,"body":"of my biggest languages."},{"startTime":1266.465,"endTime":1270.365,"body":"But the, um, that whole idea"},{"startTime":1266.465,"endTime":1270.365,"body":"of like iteratively iterative"},{"startTime":1270.365,"endTime":1272.615,"body":"development where you take your idea."},{"startTime":1273.41,"endTime":1274.61,"body":"Give it a trial, give it a test."},{"startTime":1274.61,"endTime":1277.52,"body":"Start small, start somewhere,"},{"startTime":1274.61,"endTime":1277.52,"body":"bring some people on board."},{"startTime":1277.58,"endTime":1277.67,"body":"Mm-hmm."},{"startTime":1277.91,"endTime":1279.11,"body":", then go, Okay, what's next?"},{"startTime":1279.11,"endTime":1279.98,"body":"Then go, What's next?"},{"startTime":1279.98,"endTime":1283.07,"body":"And then take those small steps to"},{"startTime":1279.98,"endTime":1283.07,"body":"release things and phases, always"},{"startTime":1283.07,"endTime":1286.07,"body":"continually engaging your customers"},{"startTime":1283.07,"endTime":1286.07,"body":"or, or your people, or your users."},{"startTime":1286.37,"endTime":1288.2,"body":"Cause if you go straight to"},{"startTime":1286.37,"endTime":1288.2,"body":"market, exactly what you said,"},{"startTime":1288.2,"endTime":1290.14,"body":"you, you don't have Yeah."},{"startTime":1290.33,"endTime":1293.03,"body":"This engaged community, you've"},{"startTime":1290.33,"endTime":1293.03,"body":"got an whole idea to sell."},{"startTime":1293.06,"endTime":1293.63,"body":"Yeah."},{"startTime":1293.69,"endTime":1295.94,"body":"And like how, how do you bring"},{"startTime":1293.69,"endTime":1295.94,"body":"people on board to something"},{"startTime":1295.94,"endTime":1297.11,"body":"where they don't have any trust?"},{"startTime":1297.11,"endTime":1297.5,"body":"They don't have."},{"startTime":1298.1,"endTime":1300.649,"body":"Kara, you haven't proven"},{"startTime":1298.1,"endTime":1300.649,"body":"that your product works."},{"startTime":1300.649,"endTime":1302.75,"body":"You've just gone straight to market with"},{"startTime":1300.649,"endTime":1302.75,"body":"this and what if you built it wrong?"},{"startTime":1302.78,"endTime":1303.139,"body":"Yeah."},{"startTime":1303.23,"endTime":1304.399,"body":"What if you've gone all that way?"},{"startTime":1304.46,"endTime":1305.06,"body":"Wasted all that time."},{"startTime":1305.33,"endTime":1306.35,"body":"No validation."},{"startTime":1306.649,"endTime":1308.87,"body":"I hated spending all my"},{"startTime":1306.649,"endTime":1308.87,"body":"millions that I didn't have."},{"startTime":1309.889,"endTime":1310.82,"body":". This is why you're here now."},{"startTime":1311.27,"endTime":1312.74,"body":"You know, build iteratively."},{"startTime":1312.889,"endTime":1316.22,"body":"Cause you, you know, on the way to the"},{"startTime":1312.889,"endTime":1316.22,"body":"millions and hopefully all the stuff"},{"startTime":1316.225,"endTime":1318.139,"body":"that we're doing is, is a success."},{"startTime":1318.139,"endTime":1320.929,"body":"And it's not just for us, like we're"},{"startTime":1318.139,"endTime":1320.929,"body":"trying to help other companies."},{"startTime":1321.379,"endTime":1324.35,"body":"Get to that promised land of doing"},{"startTime":1321.379,"endTime":1324.35,"body":"really well and bringing, Cuz"},{"startTime":1324.35,"endTime":1326.48,"body":"Australia has so many good ideas."},{"startTime":1326.48,"endTime":1330.71,"body":"We were such early adopters in"},{"startTime":1326.48,"endTime":1330.71,"body":"the crypto space and not just"},{"startTime":1330.71,"endTime":1332.06,"body":"from the investment point of view."},{"startTime":1332.12,"endTime":1335.54,"body":"Um, you know, they call 'em ST checks,"},{"startTime":1332.12,"endTime":1335.54,"body":"the stimulus checks in the us Oh."},{"startTime":1335.54,"endTime":1338.87,"body":"But we had our own version of like"},{"startTime":1335.54,"endTime":1338.87,"body":"the superannuation withdrawals."},{"startTime":1338.875,"endTime":1338.94,"body":"Right."},{"startTime":1339.635,"endTime":1343.145,"body":"Our own version of ST Checks that"},{"startTime":1339.635,"endTime":1343.145,"body":"people were withdrawing and investing."},{"startTime":1343.145,"endTime":1347.885,"body":"So, um, apart from that, like we've"},{"startTime":1343.145,"endTime":1347.885,"body":"got a lot of people in this space,"},{"startTime":1347.885,"endTime":1349.715,"body":"not just investors builders as well."},{"startTime":1349.72,"endTime":1352.445,"body":"There's so much cool stuff"},{"startTime":1349.72,"endTime":1352.445,"body":"going across all the states."},{"startTime":1352.45,"endTime":1356.014,"body":"And I guess that's why, going"},{"startTime":1352.45,"endTime":1356.014,"body":"back to it, why osd I needed to"},{"startTime":1356.014,"endTime":1358.235,"body":"be having a presence everywhere."},{"startTime":1358.385,"endTime":1359.225,"body":"Yeah, Yeah."},{"startTime":1359.225,"endTime":1362.885,"body":"And you know, there's the Gold"},{"startTime":1359.225,"endTime":1362.885,"body":"Coast, uh, later this month we're"},{"startTime":1362.885,"endTime":1365.945,"body":"in, I went on in September, it's"},{"startTime":1362.885,"endTime":1365.945,"body":"um, oh, we we're in m the Gem now."},{"startTime":1366.725,"endTime":1367.235,"body":"Oh my gosh."},{"startTime":1367.235,"endTime":1370.055,"body":"Don gone on . Um, the years just gone by."},{"startTime":1370.055,"endTime":1370.985,"body":"It's, it's like dog years."},{"startTime":1370.985,"endTime":1373.445,"body":"DFI years is like, you"},{"startTime":1370.985,"endTime":1373.445,"body":"know, multiplied by seven."},{"startTime":1373.925,"endTime":1378.545,"body":"Um, but there's the Gold Coast Crypto"},{"startTime":1373.925,"endTime":1378.545,"body":"Conference, you know, uh, there's a"},{"startTime":1378.55,"endTime":1381.785,"body":"lot of interesting things that was"},{"startTime":1378.55,"endTime":1381.785,"body":"just announce old school music heads."},{"startTime":1381.785,"endTime":1384.005,"body":"Carl Cox is gonna play."},{"startTime":1384.575,"endTime":1386.975,"body":"I dunno if he's physically gonna"},{"startTime":1384.575,"endTime":1386.975,"body":"be there, but he's, there's a"},{"startTime":1386.975,"endTime":1388.115,"body":"being paid in crypto probably."},{"startTime":1388.12,"endTime":1389.075,"body":"That's, That'd be awesome."},{"startTime":1389.075,"endTime":1392.285,"body":"There's a cool group that is bringing"},{"startTime":1389.075,"endTime":1392.285,"body":"him, uh, into, I dunno if they're"},{"startTime":1392.285,"endTime":1395.375,"body":"bringing him into town, but they're"},{"startTime":1392.285,"endTime":1395.375,"body":"playing his music before he even gets"},{"startTime":1395.375,"endTime":1398.225,"body":"to play it at, I think whatever stadium"},{"startTime":1395.375,"endTime":1398.225,"body":"in Wembley or something like that for"},{"startTime":1398.225,"endTime":1400.055,"body":"this big album launch, so, Oh wow."},{"startTime":1400.115,"endTime":1402.785,"body":"It's an exclusive, so"},{"startTime":1400.115,"endTime":1402.785,"body":"it'll be great to be there."},{"startTime":1402.785,"endTime":1403.955,"body":"I don't know if you guys"},{"startTime":1402.785,"endTime":1403.955,"body":"are going, but you should."},{"startTime":1405.11,"endTime":1405.74,"body":"Get some tickets."},{"startTime":1405.74,"endTime":1406.25,"body":"Let's do, Yeah."},{"startTime":1407.03,"endTime":1407.96,"body":"I wanna take a bit of a step back."},{"startTime":1407.96,"endTime":1410.01,"body":"There was a, a commentary we"},{"startTime":1407.96,"endTime":1410.01,"body":"were talking about a moment ago."},{"startTime":1410.01,"endTime":1410.169,"body":"Mm-hmm."},{"startTime":1410.25,"endTime":1412.31,"body":", it was particularly around"},{"startTime":1410.25,"endTime":1412.31,"body":"the centralization, uh, and"},{"startTime":1412.34,"endTime":1414.199,"body":"decentralizations and then comparison."},{"startTime":1414.5,"endTime":1418.01,"body":"And you drew a couple of,"},{"startTime":1414.5,"endTime":1418.01,"body":"uh, examples around banks."},{"startTime":1418.014,"endTime":1419.03,"body":"And if the bank goes down mm-hmm."},{"startTime":1419.455,"endTime":1419.84,"body":", what happens to you?"},{"startTime":1419.845,"endTime":1421.97,"body":"Cash, people trying to withdraw,"},{"startTime":1419.845,"endTime":1421.97,"body":"you'd probably lose it."},{"startTime":1421.975,"endTime":1422.36,"body":"All right."},{"startTime":1422.96,"endTime":1425.96,"body":"Um, how does that have, how do"},{"startTime":1422.96,"endTime":1425.96,"body":"you compare that to say something"},{"startTime":1425.96,"endTime":1429.23,"body":"that's happening in, you know, when"},{"startTime":1425.96,"endTime":1429.23,"body":"you see cryptocurrencies fall or."},{"startTime":1429.89,"endTime":1434.36,"body":"Um, even just whole chains just"},{"startTime":1429.89,"endTime":1434.36,"body":"disappearing off the market Act actor."},{"startTime":1435.02,"endTime":1435.32,"body":"Yeah."},{"startTime":1435.32,"endTime":1437.72,"body":"I mean, the example, you know,"},{"startTime":1435.32,"endTime":1437.72,"body":"all the crashes that happened"},{"startTime":1437.725,"endTime":1441.08,"body":"Celsius that happened, it's"},{"startTime":1437.725,"endTime":1441.08,"body":"interesting however many weeks ago."},{"startTime":1441.53,"endTime":1441.86,"body":"Yeah."},{"startTime":1442.31,"endTime":1445.13,"body":"How does that differ to, I guess it's"},{"startTime":1442.31,"endTime":1445.13,"body":"probably only three or four weeks ago,"},{"startTime":1445.13,"endTime":1446.6,"body":"but it feels like it does feel like it is."},{"startTime":1446.6,"endTime":1447.68,"body":"It's probably It is a while ago."},{"startTime":1447.685,"endTime":1447.74,"body":"Ago."},{"startTime":1447.745,"endTime":1448.31,"body":"Yeah."},{"startTime":1448.52,"endTime":1449.28,"body":"I mean, you know how fast."},{"startTime":1450.53,"endTime":1451.34,"body":"blockchain world moves."},{"startTime":1451.41,"endTime":1453.08,"body":"It's like it's pretty three weeks ago."},{"startTime":1453.08,"endTime":1454.31,"body":"My God, how do they compare?"},{"startTime":1454.31,"endTime":1454.73,"body":"It's ages ago."},{"startTime":1454.73,"endTime":1454.88,"body":"Yeah."},{"startTime":1454.88,"endTime":1455.45,"body":"How do you compare that?"},{"startTime":1455.45,"endTime":1460.61,"body":"Because like you're still in that win loss"},{"startTime":1455.45,"endTime":1460.61,"body":"state just as much as the bank goes down."},{"startTime":1460.61,"endTime":1460.85,"body":"Right?"},{"startTime":1461.63,"endTime":1465.26,"body":"You are, And it's interesting because"},{"startTime":1461.63,"endTime":1465.26,"body":"the Celsius one's a great example"},{"startTime":1465.265,"endTime":1469.28,"body":"that you pull up there because"},{"startTime":1465.265,"endTime":1469.28,"body":"people are like, Well, D five failed."},{"startTime":1470.03,"endTime":1470.51,"body":"Mm."},{"startTime":1470.6,"endTime":1475.25,"body":"I would argue that, um, because"},{"startTime":1470.6,"endTime":1475.25,"body":"when that crash happened, it"},{"startTime":1475.25,"endTime":1476.36,"body":"wasn't your Celsius, there were."},{"startTime":1477.23,"endTime":1481.22,"body":"Protocols out there that basically"},{"startTime":1477.23,"endTime":1481.22,"body":"also crashed and failed because"},{"startTime":1481.22,"endTime":1483.17,"body":"they overlevered themselves."},{"startTime":1483.175,"endTime":1487.76,"body":"They put themselves into riskier"},{"startTime":1483.175,"endTime":1487.76,"body":"bets with their client's money and"},{"startTime":1487.79,"endTime":1492.59,"body":"because they're not this regulation"},{"startTime":1487.79,"endTime":1492.59,"body":"that we know is coming, um, they"},{"startTime":1492.59,"endTime":1493.82,"body":"were allowed to get away with it."},{"startTime":1493.825,"endTime":1494.72,"body":"It was a wild west."},{"startTime":1495.065,"endTime":1498.365,"body":"But what ends up happening when it's"},{"startTime":1495.065,"endTime":1498.365,"body":"centralized and you're trying to claw"},{"startTime":1498.365,"endTime":1501.905,"body":"back funds, just like in the real world,"},{"startTime":1498.365,"endTime":1501.905,"body":"this is what's going on for Celsius."},{"startTime":1502.025,"endTime":1506.135,"body":"You have to go through courts and"},{"startTime":1502.025,"endTime":1506.135,"body":"arbitration, which takes time, and it's a"},{"startTime":1506.135,"endTime":1508.045,"body":"lot of processes that are involved there."},{"startTime":1508.639,"endTime":1511.43,"body":"Defi and the smart contracts"},{"startTime":1508.639,"endTime":1511.43,"body":"that they're built on, which"},{"startTime":1511.43,"endTime":1512.99,"body":"ironically, they're not smart."},{"startTime":1513.02,"endTime":1516.139,"body":"They're just code that says,"},{"startTime":1513.02,"endTime":1516.139,"body":"If this happens, then do this"},{"startTime":1516.139,"endTime":1517.879,"body":"else, do that, blah, blah, blah."},{"startTime":1518.18,"endTime":1522.83,"body":"Just like your regular contract,"},{"startTime":1518.18,"endTime":1522.83,"body":"just accept auto, accept the"},{"startTime":1522.83,"endTime":1526.16,"body":"legal system on that execution"},{"startTime":1522.83,"endTime":1526.16,"body":"instead of the legal system."},{"startTime":1526.165,"endTime":1531.395,"body":"These contracts, Would say that if, um,"},{"startTime":1526.165,"endTime":1531.395,"body":"something were to happen and you were"},{"startTime":1531.395,"endTime":1535.535,"body":"to get liquidated, you were to get, um,"},{"startTime":1531.395,"endTime":1535.535,"body":"stop lost margin called all those things."},{"startTime":1535.535,"endTime":1535.955,"body":"Yeah."},{"startTime":1536.165,"endTime":1539.525,"body":"That money has to go back to these"},{"startTime":1536.165,"endTime":1539.525,"body":"other contracts and that is exactly"},{"startTime":1539.525,"endTime":1542.045,"body":"what happened, even though it's crap."},{"startTime":1542.225,"endTime":1545.525,"body":"And I swear, um, it shit that, you"},{"startTime":1542.225,"endTime":1545.525,"body":"know, these things kind of happened."},{"startTime":1545.525,"endTime":1549.545,"body":"These protocols weren't careful,"},{"startTime":1545.525,"endTime":1549.545,"body":"at least for the defi, the"},{"startTime":1549.545,"endTime":1552.845,"body":"decentralized ones that were more"},{"startTime":1549.545,"endTime":1552.845,"body":"run on smart contracts, not self."},{"startTime":1553.49,"endTime":1557.96,"body":"They paid back all the lenders, the"},{"startTime":1553.49,"endTime":1557.96,"body":"borrowers didn't have any choice."},{"startTime":1557.96,"endTime":1560.09,"body":"The smart contracts took"},{"startTime":1557.96,"endTime":1560.09,"body":"care of it for them."},{"startTime":1560.21,"endTime":1560.51,"body":"Yeah."},{"startTime":1560.54,"endTime":1566.21,"body":"So in amongst the rubble, there were some"},{"startTime":1560.54,"endTime":1566.21,"body":"positive signs there, because if that"},{"startTime":1566.215,"endTime":1572.15,"body":"was to happen in major, um, crashes, like"},{"startTime":1566.215,"endTime":1572.15,"body":"imagine if Bernie Madoff, when he got"},{"startTime":1572.15,"endTime":1575.93,"body":"liquidated for certain things, instead"},{"startTime":1572.15,"endTime":1575.93,"body":"of that money being wasted and spent or"},{"startTime":1575.93,"endTime":1579.89,"body":"whatever, like parts of it could have"},{"startTime":1575.93,"endTime":1579.89,"body":"at least automatically been paid back."},{"startTime":1580.28,"endTime":1581.66,"body":"To those that lost the money."},{"startTime":1581.66,"endTime":1585.17,"body":"So I don't think people were"},{"startTime":1581.66,"endTime":1585.17,"body":"fully made whole necessarily."},{"startTime":1585.695,"endTime":1588.335,"body":"But at least there was something that"},{"startTime":1585.695,"endTime":1588.335,"body":"we didn't have to go through courts for."},{"startTime":1588.535,"endTime":1591.905,"body":"So I mean that's, that's the, the"},{"startTime":1588.535,"endTime":1591.905,"body":"joke about margin calls in the"},{"startTime":1592.205,"endTime":1593.705,"body":"traditional finance side, right?"},{"startTime":1593.725,"endTime":1593.965,"body":"Mm."},{"startTime":1594.125,"endTime":1595.625,"body":"Is cause like, oh, margin call."},{"startTime":1595.625,"endTime":1599.315,"body":"You see like a phone call, like from your"},{"startTime":1595.625,"endTime":1599.315,"body":"broker, like, Oh, I'll get that later."},{"startTime":1599.465,"endTime":1599.615,"body":"Yeah."},{"startTime":1599.615,"endTime":1602.105,"body":"And then hopefully your stock's"},{"startTime":1599.615,"endTime":1602.105,"body":"going back . Yeah, exactly."},{"startTime":1602.855,"endTime":1604.055,"body":"Well fucking wait then."},{"startTime":1604.055,"endTime":1604.505,"body":"It's fine."},{"startTime":1604.535,"endTime":1604.625,"body":"Yeah."},{"startTime":1604.955,"endTime":1607.955,"body":"Um, or if you Leman brothers or"},{"startTime":1604.955,"endTime":1607.955,"body":"something, then you know, maybe you've"},{"startTime":1607.955,"endTime":1612.215,"body":"got overnight to think about where are"},{"startTime":1607.955,"endTime":1612.215,"body":"you gonna package up and ship those poor."},{"startTime":1612.92,"endTime":1614.9,"body":"Crappy deals too other banks."},{"startTime":1614.9,"endTime":1615.04,"body":"That's right."},{"startTime":1615.35,"endTime":1616.49,"body":"And take action that way."},{"startTime":1617.0,"endTime":1617.99,"body":"It's deal fact."},{"startTime":1618.08,"endTime":1618.38,"body":"Yeah."},{"startTime":1618.5,"endTime":1618.65,"body":"Whew."},{"startTime":1618.89,"endTime":1619.73,"body":"She's done straight away."},{"startTime":1619.82,"endTime":1620.87,"body":"Takes care of it for you."},{"startTime":1620.875,"endTime":1622.88,"body":"So there, there was at"},{"startTime":1620.875,"endTime":1622.88,"body":"least that positive."},{"startTime":1623.09,"endTime":1625.61,"body":"It doesn't discount the fact"},{"startTime":1623.09,"endTime":1625.61,"body":"that there was a massive mess"},{"startTime":1625.61,"endTime":1626.63,"body":"and we need to do better."},{"startTime":1626.96,"endTime":1630.05,"body":"The whole crap around"},{"startTime":1626.96,"endTime":1630.05,"body":"tornado cash, which happened."},{"startTime":1630.08,"endTime":1633.47,"body":"Um, we were gonna talk about like a"},{"startTime":1630.08,"endTime":1633.47,"body":"lot more in detail and maybe we will."},{"startTime":1633.8,"endTime":1636.89,"body":"Um, it was happening the last"},{"startTime":1633.8,"endTime":1636.89,"body":"time we were doing the podcast."},{"startTime":1636.89,"endTime":1636.95,"body":"Yeah."},{"startTime":1637.82,"endTime":1638.6,"body":"It's crap."},{"startTime":1638.66,"endTime":1640.46,"body":"It happened though because."},{"startTime":1641.435,"endTime":1644.585,"body":"Tornado cash is a useful"},{"startTime":1641.435,"endTime":1644.585,"body":"thing, I think, right?"},{"startTime":1644.585,"endTime":1647.945,"body":"Because we do need, uh, privacy"},{"startTime":1644.585,"endTime":1647.945,"body":"there and why people go, Well,"},{"startTime":1648.275,"endTime":1651.035,"body":"if you've got nothing bad, like"},{"startTime":1648.275,"endTime":1651.035,"body":"why do you have to hire anything?"},{"startTime":1651.395,"endTime":1654.755,"body":"Well, do you want your web"},{"startTime":1651.395,"endTime":1654.755,"body":"browser history on chain?"},{"startTime":1654.935,"endTime":1655.175,"body":"Yeah."},{"startTime":1655.235,"endTime":1656.475,"body":"Do you want people to"},{"startTime":1655.235,"endTime":1656.475,"body":"see what you're buying?"},{"startTime":1657.455,"endTime":1659.945,"body":", understand what your kinks"},{"startTime":1657.455,"endTime":1659.945,"body":"are and crap like that."},{"startTime":1660.335,"endTime":1661.925,"body":"You don't want that"},{"startTime":1660.335,"endTime":1661.925,"body":"kind of stuff on there."},{"startTime":1661.925,"endTime":1665.585,"body":"We need a certain level of privacy"},{"startTime":1661.925,"endTime":1665.585,"body":"and we don't realize that we"},{"startTime":1665.585,"endTime":1667.445,"body":"are private individuals already."},{"startTime":1667.564,"endTime":1667.625,"body":"Yeah."},{"startTime":1667.625,"endTime":1671.014,"body":"We're not completely"},{"startTime":1667.625,"endTime":1671.014,"body":"public and arguing against."},{"startTime":1671.02,"endTime":1671.135,"body":"We do."},{"startTime":1671.139,"endTime":1673.804,"body":"I think we do realize though,"},{"startTime":1671.139,"endTime":1673.804,"body":"even in the web tube ONO space,"},{"startTime":1673.804,"endTime":1677.435,"body":"like the, the discussions and"},{"startTime":1673.804,"endTime":1677.435,"body":"prioritizations around security, it's"},{"startTime":1677.435,"endTime":1678.985,"body":"such a big Oh yeah, you're right."},{"startTime":1678.985,"endTime":1679.425,"body":"Such a big point."},{"startTime":1679.429,"endTime":1679.655,"body":"You're right."},{"startTime":1679.895,"endTime":1681.245,"body":"But um, but you're absolutely right."},{"startTime":1681.245,"endTime":1684.365,"body":"We're in a decentralized, in a true"},{"startTime":1681.245,"endTime":1684.365,"body":"decentralized world that doesn't exist."},{"startTime":1684.365,"endTime":1684.605,"body":"Right."},{"startTime":1684.605,"endTime":1684.845,"body":"There's."},{"startTime":1685.345,"endTime":1688.585,"body":"That there security in terms of, no one"},{"startTime":1685.345,"endTime":1688.585,"body":"can take it, but in terms of people seeing"},{"startTime":1688.585,"endTime":1691.405,"body":"it and understanding and knowing who you"},{"startTime":1688.585,"endTime":1691.405,"body":"are, like it's all out there to read."},{"startTime":1691.525,"endTime":1692.635,"body":"You can figure it out."},{"startTime":1692.635,"endTime":1695.425,"body":"It is alpha numeric,"},{"startTime":1692.635,"endTime":1695.425,"body":"the addresses and stuff."},{"startTime":1695.425,"endTime":1695.485,"body":"Yeah."},{"startTime":1695.49,"endTime":1700.555,"body":"But some people have bought into"},{"startTime":1695.49,"endTime":1700.555,"body":"Ethereum name services, which,"},{"startTime":1700.615,"endTime":1702.985,"body":"uh, has these dot e addresses."},{"startTime":1702.985,"endTime":1705.595,"body":"So you can get Christine"},{"startTime":1702.985,"endTime":1705.595,"body":"Claire dot e for example."},{"startTime":1705.595,"endTime":1705.655,"body":"Yeah."},{"startTime":1705.655,"endTime":1706.585,"body":"If you haven't already got it."},{"startTime":1706.645,"endTime":1706.915,"body":"Right."},{"startTime":1707.275,"endTime":1708.595,"body":"So you can do that."},{"startTime":1708.995,"endTime":1712.475,"body":"You've just gotta have this hygiene,"},{"startTime":1708.995,"endTime":1712.475,"body":"this wallet hygiene critic's gonna"},{"startTime":1712.475,"endTime":1714.064,"body":"purchase that wallet hygiene."},{"startTime":1714.094,"endTime":1715.264,"body":"I've already purchased it for you."},{"startTime":1715.264,"endTime":1717.155,"body":"I'm gonna sell it back to"},{"startTime":1715.264,"endTime":1717.155,"body":"you for a larger amount."},{"startTime":1717.155,"endTime":1717.995,"body":"So I've thought ahead."},{"startTime":1718.294,"endTime":1722.465,"body":"Um, but people have to think about wallet"},{"startTime":1718.294,"endTime":1722.465,"body":"hygiene in the sense that if you are"},{"startTime":1722.469,"endTime":1725.675,"body":"getting paid in crypto in the future,"},{"startTime":1722.469,"endTime":1725.675,"body":"the wallet where you're getting paid"},{"startTime":1725.675,"endTime":1729.364,"body":"to should not be the same one where you"},{"startTime":1725.675,"endTime":1729.364,"body":"are conducting whatever other kind of"},{"startTime":1729.364,"endTime":1732.245,"body":"private anonymous activities, right?"},{"startTime":1732.245,"endTime":1736.635,"body":"Whatever kind of things you buy into in"},{"startTime":1732.245,"endTime":1736.635,"body":"NFTs or whatever, those future services."},{"startTime":1737.18,"endTime":1741.2,"body":"But going back to the tornado cash"},{"startTime":1737.18,"endTime":1741.2,"body":"kind of thing, and we were seeing there"},{"startTime":1741.2,"endTime":1746.27,"body":"that there's a whole lot more, um, that"},{"startTime":1741.2,"endTime":1746.27,"body":"people didn't realize that could be"},{"startTime":1746.27,"endTime":1750.56,"body":"done in this space and tornado cash,"},{"startTime":1746.27,"endTime":1750.56,"body":"even though North Korea was like a"},{"startTime":1750.56,"endTime":1753.74,"body":"big part of like being, doing illicit"},{"startTime":1750.56,"endTime":1753.74,"body":"activity on there, and it wasn't the"},{"startTime":1753.74,"endTime":1755.6,"body":"majority of what goes on in tornado cash."},{"startTime":1755.605,"endTime":1758.33,"body":"A lot of it was just used for"},{"startTime":1755.605,"endTime":1758.33,"body":"a legitimate private purposes"},{"startTime":1758.33,"endTime":1761.93,"body":"because privacy is a natural thing,"},{"startTime":1758.33,"endTime":1761.93,"body":"even in web tour as you said."},{"startTime":1762.32,"endTime":1766.13,"body":"But just purely the fact that North Korea"},{"startTime":1762.32,"endTime":1766.13,"body":"could take down a protocol just because."},{"startTime":1766.834,"endTime":1768.695,"body":"It's def I got lazy def."},{"startTime":1768.695,"endTime":1770.135,"body":"I didn't police itself enough."},{"startTime":1770.135,"endTime":1771.455,"body":"And it's like, Oh, it's a wild west."},{"startTime":1771.455,"endTime":1772.475,"body":"We can do whatever we want."},{"startTime":1772.745,"endTime":1774.754,"body":"It doesn't mean we should"},{"startTime":1772.745,"endTime":1774.754,"body":"be doing the wrong things."},{"startTime":1774.754,"endTime":1777.395,"body":"If we wanna be legitimate,"},{"startTime":1774.754,"endTime":1777.395,"body":"we need to police ourselves."},{"startTime":1777.395,"endTime":1780.004,"body":"I reckon we need to create"},{"startTime":1777.395,"endTime":1780.004,"body":"consumer action groups."},{"startTime":1780.004,"endTime":1786.064,"body":"There's groups out there that try to flag"},{"startTime":1780.004,"endTime":1786.064,"body":"and watch out for and tell people about."},{"startTime":1786.74,"endTime":1788.84,"body":"Bad potential scams out there."},{"startTime":1788.87,"endTime":1792.74,"body":"Rug Dock, R U G D C, because"},{"startTime":1788.87,"endTime":1792.74,"body":"there's Rug pool, so Rug Dock is"},{"startTime":1792.745,"endTime":1793.73,"body":"supposed to help out with that."},{"startTime":1793.73,"endTime":1796.85,"body":"There's other services out there,"},{"startTime":1793.73,"endTime":1796.85,"body":"but in Australia we need like a"},{"startTime":1796.85,"endTime":1798.71,"body":"consumer action group, like a choice."},{"startTime":1799.235,"endTime":1802.355,"body":"Or something, one of those types"},{"startTime":1799.235,"endTime":1802.355,"body":"of groups that is for the consumer."},{"startTime":1802.655,"endTime":1804.065,"body":"It's not regulated, it's backed."},{"startTime":1804.215,"endTime":1807.485,"body":"But um, until we get that"},{"startTime":1804.215,"endTime":1807.485,"body":"regulation, there's nothing there."},{"startTime":1807.485,"endTime":1810.345,"body":"So we need to do something"},{"startTime":1807.485,"endTime":1810.345,"body":"so, Well, I, Yeah, yeah."},{"startTime":1810.35,"endTime":1813.425,"body":"In, in the absence of regulation,"},{"startTime":1810.35,"endTime":1813.425,"body":"there's nothing else other than the"},{"startTime":1813.425,"endTime":1814.865,"body":"industry to take responsibility."},{"startTime":1815.014,"endTime":1815.225,"body":"Right."},{"startTime":1815.225,"endTime":1817.355,"body":"And we have to, if we're"},{"startTime":1815.225,"endTime":1817.355,"body":"gonna show that trust."},{"startTime":1817.36,"endTime":1821.975,"body":"Otherwise, otherwise we are gonna"},{"startTime":1817.36,"endTime":1821.975,"body":"get really, um, hard line regulation"},{"startTime":1822.035,"endTime":1823.835,"body":"that is gonna stifle innovation."},{"startTime":1823.955,"endTime":1825.935,"body":"Australia had a chance to be the silicon."},{"startTime":1826.805,"endTime":1827.915,"body":"Before, Right."},{"startTime":1827.945,"endTime":1832.085,"body":"But what ended up kind of happening"},{"startTime":1827.945,"endTime":1832.085,"body":"is that we didn't, and, and"},{"startTime":1832.085,"endTime":1833.405,"body":"look, we, we could do this again."},{"startTime":1833.405,"endTime":1837.605,"body":"We could make regulations so difficult"},{"startTime":1833.405,"endTime":1837.605,"body":"for people to develop things here"},{"startTime":1837.605,"endTime":1839.075,"body":"that they just move overseas."},{"startTime":1839.075,"endTime":1841.325,"body":"And that innovation, we lose those minds."},{"startTime":1841.325,"endTime":1844.655,"body":"We lose that ability to, you"},{"startTime":1841.325,"endTime":1844.655,"body":"know, continue down the momentous"},{"startTime":1844.655,"endTime":1845.915,"body":"pathway that we've been on."},{"startTime":1846.025,"endTime":1852.635,"body":"So, . I mean, we could go down a"},{"startTime":1846.025,"endTime":1852.635,"body":"rabbit hole of government . Oh,"},{"startTime":1852.635,"endTime":1853.325,"body":"that's another podcast."},{"startTime":1853.325,"endTime":1853.504,"body":"Is it?"},{"startTime":1854.615,"endTime":1858.545,"body":"I mean, we, we are expecting some"},{"startTime":1854.615,"endTime":1858.545,"body":"regulation to come here, aren't we?"},{"startTime":1858.545,"endTime":1860.405,"body":"What do you think that"},{"startTime":1858.545,"endTime":1860.405,"body":"might, that could look like?"},{"startTime":1860.555,"endTime":1864.305,"body":"Well, what, what would be the"},{"startTime":1860.555,"endTime":1864.305,"body":"ideal, I guess, uh, scenario?"},{"startTime":1864.485,"endTime":1868.625,"body":"It's interesting because since we last"},{"startTime":1864.485,"endTime":1868.625,"body":"spoke, um, if we were speaking about this"},{"startTime":1868.625,"endTime":1871.07,"body":"last time, W without the jack hammering."},{"startTime":1871.43,"endTime":1874.88,"body":"Um, regulation talk was all"},{"startTime":1871.43,"endTime":1874.88,"body":"about the fact that there was a"},{"startTime":1874.88,"endTime":1878.27,"body":"consultation paper out where the"},{"startTime":1874.88,"endTime":1878.27,"body":"government, the previous government,"},{"startTime":1878.27,"endTime":1879.77,"body":"cuz there was election and before."},{"startTime":1879.83,"endTime":1883.25,"body":"Um, when, when that happened, um, the"},{"startTime":1879.83,"endTime":1883.25,"body":"previous government had put out, uh, a"},{"startTime":1883.25,"endTime":1885.54,"body":"consultation on how should we regulate."},{"startTime":1886.084,"endTime":1890.915,"body":"Secondary asset providers in the"},{"startTime":1886.084,"endTime":1890.915,"body":"market and came with a whole lot of"},{"startTime":1890.915,"endTime":1895.385,"body":"definitions that they had created from"},{"startTime":1890.915,"endTime":1895.385,"body":"consulting to the public and stuff."},{"startTime":1895.385,"endTime":1898.115,"body":"But when they went to the wider"},{"startTime":1895.385,"endTime":1898.115,"body":"public for this consultation, after"},{"startTime":1898.115,"endTime":1902.344,"body":"they said, This is what we proposed"},{"startTime":1898.115,"endTime":1902.344,"body":"the majority of what I had heard"},{"startTime":1902.344,"endTime":1905.645,"body":"and read about, cuz a lot of people"},{"startTime":1902.344,"endTime":1905.645,"body":"like us, we put in a response to it."},{"startTime":1906.094,"endTime":1910.054,"body":"Um, two of my groups put in a response"},{"startTime":1906.094,"endTime":1910.054,"body":"to it os defi as well as trade flows,"},{"startTime":1910.06,"endTime":1912.784,"body":"which is a protocol we are building"},{"startTime":1910.06,"endTime":1912.784,"body":"and stuff we put in responses."},{"startTime":1913.31,"endTime":1915.47,"body":"We'd seen others that had"},{"startTime":1913.31,"endTime":1915.47,"body":"put out the responses."},{"startTime":1915.47,"endTime":1919.43,"body":"The overwhelming majority were saying"},{"startTime":1915.47,"endTime":1919.43,"body":"things that, um, basically there"},{"startTime":1919.43,"endTime":1920.81,"body":"needs to be better definitions."},{"startTime":1921.14,"endTime":1924.11,"body":"We can't have regulation until we"},{"startTime":1921.14,"endTime":1924.11,"body":"actually define what it is that we're"},{"startTime":1924.11,"endTime":1927.2,"body":"regulating, and we don't have enough"},{"startTime":1924.11,"endTime":1927.2,"body":"of that yet in what's being proposed."},{"startTime":1927.68,"endTime":1932.825,"body":"So now, in the recent, I think just in the"},{"startTime":1927.68,"endTime":1932.825,"body":"past week, The Treasury has come back and"},{"startTime":1932.825,"endTime":1937.895,"body":"said that they're gonna do a token mapping"},{"startTime":1932.825,"endTime":1937.895,"body":"exercise and it will go out to the public."},{"startTime":1937.895,"endTime":1940.685,"body":"The consultation's not out"},{"startTime":1937.895,"endTime":1940.685,"body":"yet, but the idea is that not"},{"startTime":1940.685,"endTime":1941.825,"body":"all tokens are built the same."},{"startTime":1941.83,"endTime":1942.995,"body":"They're not for the same purpose."},{"startTime":1943.0,"endTime":1945.514,"body":"Some are more harmful or"},{"startTime":1943.0,"endTime":1945.514,"body":"potentially harmful than others."},{"startTime":1945.514,"endTime":1947.345,"body":"Some are offering more value than others."},{"startTime":1947.35,"endTime":1949.235,"body":"Should we treat them all the same way?"},{"startTime":1949.24,"endTime":1949.375,"body":"No."},{"startTime":1950.0,"endTime":1951.71,"body":"And so they want to consult on that."},{"startTime":1951.71,"endTime":1953.51,"body":"So I feel like we're doing"},{"startTime":1951.71,"endTime":1953.51,"body":"the right thing here."},{"startTime":1953.51,"endTime":1956.0,"body":"Regulation is coming interest, but I"},{"startTime":1953.51,"endTime":1956.0,"body":"think it's gonna be, they're engaging"},{"startTime":1956.0,"endTime":1957.14,"body":"the right people for that as well."},{"startTime":1957.14,"endTime":1959.69,"body":"Like if I think about some of the"},{"startTime":1957.14,"endTime":1959.69,"body":"regulations they try to put from"},{"startTime":1959.69,"endTime":1964.64,"body":"a, you know, just, just web, the"},{"startTime":1959.69,"endTime":1964.64,"body":"dividing line risk on tokens could be"},{"startTime":1964.64,"endTime":1966.8,"body":"extraordinarily interesting, couldn't it?"},{"startTime":1966.89,"endTime":1967.85,"body":"Yeah, absolutely."},{"startTime":1967.85,"endTime":1971.09,"body":"And I think in terms of like, are"},{"startTime":1967.85,"endTime":1971.09,"body":"they consulting the right people?"},{"startTime":1971.41,"endTime":1976.12,"body":"Um, they are talking to the groups, their"},{"startTime":1971.41,"endTime":1976.12,"body":"people come to, uh, the meetups that"},{"startTime":1976.12,"endTime":1978.16,"body":"are all going on all around the space."},{"startTime":1978.22,"endTime":1984.4,"body":"Advisors there do, um, keep a pulse"},{"startTime":1978.22,"endTime":1984.4,"body":"on the mark from what we hear."},{"startTime":1984.46,"endTime":1989.83,"body":"And because of that, it is this"},{"startTime":1984.46,"endTime":1989.83,"body":"ability for the community right now"},{"startTime":1989.98,"endTime":1993.94,"body":"to have an opportunity to actually"},{"startTime":1989.98,"endTime":1993.94,"body":"tell government through the mouth"},{"startTime":1993.94,"endTime":1997.78,"body":"of the advisor basically, that this"},{"startTime":1993.94,"endTime":1997.78,"body":"is where the market is heading."},{"startTime":1997.78,"endTime":2000.36,"body":"And cuz what we don't want,"},{"startTime":1997.78,"endTime":2000.36,"body":"we don't want innovation that."},{"startTime":2001.36,"endTime":2005.2,"body":"Looks at it from the top down and doesn't"},{"startTime":2001.36,"endTime":2005.2,"body":"understand fully what is the potential."},{"startTime":2005.44,"endTime":2006.639,"body":"And we understand it's hard."},{"startTime":2006.639,"endTime":2010.51,"body":"It's not easy when it's not your"},{"startTime":2006.639,"endTime":2010.51,"body":"day to day to look at this space"},{"startTime":2010.51,"endTime":2011.86,"body":"and trying to make rules for it."},{"startTime":2011.86,"endTime":2013.24,"body":"But we need to work together."},{"startTime":2013.54,"endTime":2017.74,"body":"It can't be this thing like we want"},{"startTime":2013.54,"endTime":2017.74,"body":"no regulation, just accept the fact"},{"startTime":2017.745,"endTime":2019.09,"body":"that there's gonna be some regulation."},{"startTime":2019.095,"endTime":2020.86,"body":"If we wanna be mainstream,"},{"startTime":2019.095,"endTime":2020.86,"body":"we have to have some."},{"startTime":2021.19,"endTime":2026.86,"body":"So if you accept that, where do we go"},{"startTime":2021.19,"endTime":2026.86,"body":"in terms of how this space is regulated?"},{"startTime":2027.129,"endTime":2030.28,"body":"Cuz we d definitely don't want to have a"},{"startTime":2027.129,"endTime":2030.28,"body":"situation where there are certain types."},{"startTime":2030.79,"endTime":2036.25,"body":"Tokens or NFTs, which have nothing more"},{"startTime":2030.79,"endTime":2036.25,"body":"than just collectability or whatever,"},{"startTime":2036.25,"endTime":2037.81,"body":"and we are just passing it between us."},{"startTime":2037.81,"endTime":2041.5,"body":"So it's tokens within a protocol for"},{"startTime":2037.81,"endTime":2041.5,"body":"voting and it doesn't do much else."},{"startTime":2041.5,"endTime":2043.12,"body":"There's no price appreciation for it."},{"startTime":2043.12,"endTime":2047.41,"body":"But we don't want to, um, regulate"},{"startTime":2043.12,"endTime":2047.41,"body":"those in the same way as ones that"},{"startTime":2047.41,"endTime":2049.21,"body":"are purely more for speculation."},{"startTime":2049.33,"endTime":2050.929,"body":"They're very different beasts."},{"startTime":2051.04,"endTime":2053.62,"body":"Um, well, as long as there is clear"},{"startTime":2051.04,"endTime":2053.62,"body":"distinction and clarity between that."},{"startTime":2053.62,"endTime":2053.679,"body":"Yeah."},{"startTime":2053.679,"endTime":2056.949,"body":"Because the worst thing you have is you"},{"startTime":2053.679,"endTime":2056.949,"body":"go too far the other way and regulation"},{"startTime":2056.949,"endTime":2059.77,"body":"just stops everything, obviously, like"},{"startTime":2056.949,"endTime":2059.77,"body":"you see in the states, like you see."},{"startTime":2060.429,"endTime":2064.21,"body":"Parts of Asia, China, India,"},{"startTime":2060.429,"endTime":2064.21,"body":"even, um, where the regulation has"},{"startTime":2064.21,"endTime":2068.679,"body":"pretty much put a stop on complete"},{"startTime":2064.21,"endTime":2068.679,"body":"innovation in that, in that space."},{"startTime":2068.71,"endTime":2069.37,"body":"It's dangerous."},{"startTime":2069.37,"endTime":2069.549,"body":"Yeah."},{"startTime":2069.61,"endTime":2073.21,"body":"The, the most, probably the most"},{"startTime":2069.61,"endTime":2073.21,"body":"politically safe thing that they"},{"startTime":2073.21,"endTime":2076.96,"body":"could do is say, backed by a"},{"startTime":2073.21,"endTime":2076.96,"body":"financial institution, yes or no."},{"startTime":2077.4,"endTime":2082.719,"body":"And then that, if that was the dividing"},{"startTime":2077.4,"endTime":2082.719,"body":"line, you know who, who outside of"},{"startTime":2082.719,"endTime":2086.469,"body":"the web three community and industry"},{"startTime":2082.719,"endTime":2086.469,"body":"is going to fight against that."},{"startTime":2087.36,"endTime":2089.41,"body":"I mean, nobody really Oh, exactly."},{"startTime":2089.415,"endTime":2092.47,"body":"It's, it's like, uh, we heard, we"},{"startTime":2089.415,"endTime":2092.47,"body":"heard a good one the other day when"},{"startTime":2092.83,"endTime":2094.78,"body":"people were, I think it was one"},{"startTime":2092.83,"endTime":2094.78,"body":"of the meetups we've been through."},{"startTime":2094.78,"endTime":2095.26,"body":"There's so many."},{"startTime":2095.26,"endTime":2095.44,"body":"Yeah."},{"startTime":2095.5,"endTime":2100.96,"body":"But people were talking about, well,"},{"startTime":2095.5,"endTime":2100.96,"body":"NFTs, if NFTs, um, were used by sporting"},{"startTime":2100.96,"endTime":2105.07,"body":"clubs for example, like imagine,"},{"startTime":2100.96,"endTime":2105.07,"body":"Imagine trophies and stuff, and there's"},{"startTime":2105.07,"endTime":2108.04,"body":"a whole lot of work or collectors"},{"startTime":2105.07,"endTime":2108.04,"body":"cards, like we could still have the"},{"startTime":2108.04,"endTime":2109.3,"body":"trophies and they're still good."},{"startTime":2109.3,"endTime":2111.73,"body":"It's good to still have the physical,"},{"startTime":2109.3,"endTime":2111.73,"body":"We're not all moving to a digital"},{"startTime":2111.73,"endTime":2116.05,"body":"kind of, But could there be a way that"},{"startTime":2111.73,"endTime":2116.05,"body":"entities can be used to support and"},{"startTime":2116.05,"endTime":2117.88,"body":"even enhance what sporting clubs do?"},{"startTime":2117.88,"endTime":2118.69,"body":"They sure can."},{"startTime":2119.17,"endTime":2123.79,"body":"And so with that, if a whole lot of"},{"startTime":2119.17,"endTime":2123.79,"body":"sporting clubs in Australia are using"},{"startTime":2123.79,"endTime":2125.74,"body":"that, do you think the government's"},{"startTime":2123.79,"endTime":2125.74,"body":"gonna try to take that away?"},{"startTime":2126.16,"endTime":2126.31,"body":"No."},{"startTime":2126.315,"endTime":2127.63,"body":"They're probably gonna wanna work with it."},{"startTime":2127.63,"endTime":2129.9,"body":"If it's providing value to the"},{"startTime":2127.63,"endTime":2129.9,"body":"community, this is what we need to do."},{"startTime":2130.75,"endTime":2134.44,"body":"The bear market that we are in right now"},{"startTime":2130.75,"endTime":2134.44,"body":"is the perfect moment and opportunity."},{"startTime":2135.265,"endTime":2137.125,"body":"Stay away from not say away, sorry."},{"startTime":2137.335,"endTime":2140.995,"body":"To have this opportunity to build"},{"startTime":2137.335,"endTime":2140.995,"body":"without all the noise of all the hype"},{"startTime":2141.085,"endTime":2142.645,"body":"and hype, the heat out, hasn't it?"},{"startTime":2142.975,"endTime":2143.995,"body":"And even the cost."},{"startTime":2143.995,"endTime":2144.985,"body":"Even the cost, right?"},{"startTime":2144.985,"endTime":2147.235,"body":"I mean the cost of doing things Yeah."},{"startTime":2147.235,"endTime":2149.005,"body":"Are true is one of the"},{"startTime":2147.235,"endTime":2149.005,"body":"topics we talked about."},{"startTime":2149.005,"endTime":2153.775,"body":"Like, I think which, uh, sort of has come,"},{"startTime":2149.005,"endTime":2153.775,"body":"I come forward in my mind was around,"},{"startTime":2153.985,"endTime":2156.925,"body":"well, one, you have the cost of resources"},{"startTime":2153.985,"endTime":2156.925,"body":"in general, that that has gone up."},{"startTime":2156.925,"endTime":2158.785,"body":"But because of the lower cost now of."},{"startTime":2159.595,"endTime":2163.464,"body":"Um, in the web three per a space,"},{"startTime":2159.595,"endTime":2163.464,"body":"whether it's blockchain, crypto,"},{"startTime":2163.464,"endTime":2166.225,"body":"all that type of stuff, the"},{"startTime":2163.464,"endTime":2166.225,"body":"crash, conducting a transaction."},{"startTime":2166.225,"endTime":2166.975,"body":"Exactly right."},{"startTime":2166.975,"endTime":2169.345,"body":"It's like lower than it's"},{"startTime":2166.975,"endTime":2169.345,"body":"ever been in quite a while."},{"startTime":2169.404,"endTime":2172.285,"body":"This is the perfect opportunity for"},{"startTime":2169.404,"endTime":2172.285,"body":"businesses where there has been,"},{"startTime":2172.345,"endTime":2174.354,"body":"there's such a gap cuz there's"},{"startTime":2172.345,"endTime":2174.354,"body":"been so many dropping out of."},{"startTime":2174.925,"endTime":2176.965,"body":"Due to the drop, due to"},{"startTime":2174.925,"endTime":2176.965,"body":"the fall or table cripping."},{"startTime":2177.075,"endTime":2177.805,"body":"The table fall."},{"startTime":2177.835,"endTime":2177.995,"body":"Yeah."},{"startTime":2177.995,"endTime":2178.155,"body":"Yeah."},{"startTime":2178.535,"endTime":2179.485,"body":"The fall, Yeah."},{"startTime":2179.485,"endTime":2180.275,"body":"Would been dramatic."},{"startTime":2180.28,"endTime":2181.375,"body":"This is the time to enter, right?"},{"startTime":2181.375,"endTime":2181.585,"body":"Right."},{"startTime":2181.585,"endTime":2185.125,"body":"Do all these new newcomers, all these new"},{"startTime":2181.585,"endTime":2185.125,"body":"opportunities, whether it's absolutely"},{"startTime":2185.155,"endTime":2188.425,"body":"developing video games or whether"},{"startTime":2185.155,"endTime":2188.425,"body":"it's, you know, new blockchains on"},{"startTime":2188.425,"endTime":2191.875,"body":"the market, whether it is defi, this"},{"startTime":2188.425,"endTime":2191.875,"body":"is the time to do it because of that."},{"startTime":2192.25,"endTime":2193.51,"body":"And also for investment as well."},{"startTime":2193.51,"endTime":2194.11,"body":"Like investment."},{"startTime":2194.11,"endTime":2194.44,"body":"Exactly."},{"startTime":2194.44,"endTime":2198.85,"body":"You think about, um, VC throwing"},{"startTime":2194.44,"endTime":2198.85,"body":"money at projects, um, where"},{"startTime":2198.85,"endTime":2200.32,"body":"money was easier to come by."},{"startTime":2200.5,"endTime":2200.53,"body":"Mm."},{"startTime":2200.8,"endTime":2201.67,"body":"Was that a good thing?"},{"startTime":2201.67,"endTime":2205.18,"body":"Because some projects may have"},{"startTime":2201.67,"endTime":2205.18,"body":"overstretched themselves in"},{"startTime":2205.18,"endTime":2208.57,"body":"terms of what they raise because"},{"startTime":2205.18,"endTime":2208.57,"body":"we were in a bull market."},{"startTime":2208.69,"endTime":2212.95,"body":"But that's not a good thing because if you"},{"startTime":2208.69,"endTime":2212.95,"body":"are not built to be able to, um, if you're"},{"startTime":2212.95,"endTime":2217.615,"body":"taking on say, $2 million, Have you built"},{"startTime":2212.95,"endTime":2217.615,"body":"enough or, uh, is your roadmap showing"},{"startTime":2217.615,"endTime":2221.275,"body":"that before your next raise you are worth"},{"startTime":2217.615,"endTime":2221.275,"body":"and you don't have to be fully worth out?"},{"startTime":2221.275,"endTime":2224.455,"body":"Obviously there's different kind"},{"startTime":2221.275,"endTime":2224.455,"body":"of factors and context to it, but"},{"startTime":2224.455,"endTime":2229.105,"body":"it was evidently bare that you"},{"startTime":2224.455,"endTime":2229.105,"body":"would see these companies that"},{"startTime":2229.225,"endTime":2231.565,"body":"raise so much in a bear market you."},{"startTime":2232.03,"endTime":2236.35,"body":"Raised so much that they couldn't actually"},{"startTime":2232.03,"endTime":2236.35,"body":"fulfill that lot of people outta jobs and"},{"startTime":2236.35,"endTime":2237.7,"body":"startups now, just because Absolutely."},{"startTime":2237.7,"endTime":2240.43,"body":"They couldn't justify that valuation"},{"startTime":2237.7,"endTime":2240.43,"body":"over the past couple of weeks."},{"startTime":2240.43,"endTime":2242.71,"body":"And it's not only in web"},{"startTime":2240.43,"endTime":2242.71,"body":"three, it's Web two as well."},{"startTime":2242.86,"endTime":2243.52,"body":"Shopify."},{"startTime":2243.92,"endTime":2244.41,"body":"Yeah."},{"startTime":2244.41,"endTime":2244.57,"body":"Yeah."},{"startTime":2244.57,"endTime":2248.29,"body":"Um, Robin Hood in the"},{"startTime":2244.57,"endTime":2248.29,"body":"States, another trading app."},{"startTime":2248.7,"endTime":2250.47,"body":"Yeah, let go of a thousand people each."},{"startTime":2250.47,"endTime":2251.64,"body":"I don't know why it was a thousand."},{"startTime":2251.64,"endTime":2253.859,"body":"Maybe the journals that wrote"},{"startTime":2251.64,"endTime":2253.859,"body":"the article were just lazy."},{"startTime":2253.859,"endTime":2257.49,"body":"But there was all these companies that"},{"startTime":2253.859,"endTime":2257.49,"body":"had a thousand layoffs, even in Web Street"},{"startTime":2257.49,"endTime":2259.169,"body":"coincidentally, were spot on three zeros."},{"startTime":2259.379,"endTime":2262.529,"body":"They all agreed there's a cabal and"},{"startTime":2259.379,"endTime":2262.529,"body":"they're all like saying, it's a thousand."},{"startTime":2262.529,"endTime":2263.58,"body":"Let's stand out thousand one."},{"startTime":2263.879,"endTime":2264.359,"body":"That guy keeps you."},{"startTime":2264.359,"endTime":2267.27,"body":"We go 1500, they'll talk"},{"startTime":2264.359,"endTime":2267.27,"body":"about us more and thousand."},{"startTime":2267.575,"endTime":2268.245,"body":"Exactly."},{"startTime":2268.555,"endTime":2269.694,"body":"Do another 500 next week?"},{"startTime":2270.625,"endTime":2270.895,"body":"No, no."},{"startTime":2271.105,"endTime":2271.794,"body":"That got his job back."},{"startTime":2272.245,"endTime":2272.455,"body":"Okay."},{"startTime":2272.544,"endTime":2272.964,"body":"Okay."},{"startTime":2273.325,"endTime":2274.944,"body":"Someone on the books had, you know, adhd."},{"startTime":2274.944,"endTime":2276.115,"body":"He needed that three zeros."},{"startTime":2276.115,"endTime":2280.825,"body":"But it's interesting cause like, um,"},{"startTime":2276.115,"endTime":2280.825,"body":"a lot of light was put on like, oh,"},{"startTime":2280.825,"endTime":2284.544,"body":"web three, these people are firing"},{"startTime":2280.825,"endTime":2284.544,"body":"for everyone was It's not just, Yeah."},{"startTime":2284.549,"endTime":2287.335,"body":"I mean, it was the, it was"},{"startTime":2284.549,"endTime":2287.335,"body":"the VC backed companies."},{"startTime":2287.435,"endTime":2288.365,"body":"Yeah, all of them."},{"startTime":2288.415,"endTime":2288.625,"body":"Yeah."},{"startTime":2289.044,"endTime":2289.734,"body":"Particularly all of."},{"startTime":2290.214,"endTime":2293.995,"body":"Because they need to do something to"},{"startTime":2290.214,"endTime":2293.995,"body":"make money in what better way than to get"},{"startTime":2293.995,"endTime":2296.424,"body":"rid of staff that you don't, you know?"},{"startTime":2296.424,"endTime":2296.515,"body":"Yeah."},{"startTime":2296.575,"endTime":2299.125,"body":"That's not gonna, It's,"},{"startTime":2296.575,"endTime":2299.125,"body":"look, it's, it's tough."},{"startTime":2299.125,"endTime":2299.875,"body":"It's arguable."},{"startTime":2299.935,"endTime":2303.265,"body":"Um, and I think that, uh, I"},{"startTime":2299.935,"endTime":2303.265,"body":"don't support what was done."},{"startTime":2303.27,"endTime":2306.835,"body":"It's almost like you need to have"},{"startTime":2303.27,"endTime":2306.835,"body":"thought ahead that putting yourself"},{"startTime":2306.839,"endTime":2310.645,"body":"in those shoes when everyone was, when"},{"startTime":2306.839,"endTime":2310.645,"body":"the tide was rising, and who knew when"},{"startTime":2310.645,"endTime":2314.634,"body":"the market was gonna kind of, um, have"},{"startTime":2310.645,"endTime":2314.634,"body":"the rug pulled from underneath it."},{"startTime":2314.725,"endTime":2318.174,"body":"Uh, you've just gotta keep on building and"},{"startTime":2314.725,"endTime":2318.174,"body":"forging ahead and plan for these things."},{"startTime":2318.174,"endTime":2318.835,"body":"But it's tough."},{"startTime":2318.835,"endTime":2319.315,"body":"It's, it's."},{"startTime":2320.125,"endTime":2324.085,"body":"It makes people, you have to"},{"startTime":2320.125,"endTime":2324.085,"body":"think about those rainy days."},{"startTime":2324.085,"endTime":2330.085,"body":"And in this crypto web three space, it"},{"startTime":2324.085,"endTime":2330.085,"body":"does offer that ability to, um, think"},{"startTime":2330.085,"endTime":2333.055,"body":"more about those rainy days because they"},{"startTime":2330.085,"endTime":2333.055,"body":"could happen like, even though we think"},{"startTime":2333.055,"endTime":2337.555,"body":"we're safe, we're in this western society,"},{"startTime":2333.055,"endTime":2337.555,"body":"modern and all that, We're not Russia"},{"startTime":2337.555,"endTime":2340.375,"body":"and Ukraine, but hey, it could happen."},{"startTime":2340.615,"endTime":2343.194,"body":"So people really need to think about"},{"startTime":2340.615,"endTime":2343.194,"body":"it, whatever it is that you're doing."},{"startTime":2343.194,"endTime":2344.035,"body":"So, yeah."},{"startTime":2344.484,"endTime":2345.295,"body":"And what is next?"},{"startTime":2345.745,"endTime":2346.405,"body":"What is next?"},{"startTime":2346.405,"endTime":2350.035,"body":"I think next is gonna be more"},{"startTime":2346.405,"endTime":2350.035,"body":"things where we see mainstream"},{"startTime":2350.365,"endTime":2352.105,"body":"usage of blockchain tech."},{"startTime":2352.105,"endTime":2357.415,"body":"We see take away the, the whole,"},{"startTime":2352.105,"endTime":2357.415,"body":"It's interesting the, you could argue"},{"startTime":2357.415,"endTime":2359.905,"body":"that if there wasn't all the hype,"},{"startTime":2357.415,"endTime":2359.905,"body":"we wouldn't have all the clampdowns"},{"startTime":2359.905,"endTime":2363.055,"body":"in government regulation if it wasn't"},{"startTime":2359.905,"endTime":2363.055,"body":"all about speculation and price."},{"startTime":2363.055,"endTime":2366.985,"body":"And it was more about building,"},{"startTime":2363.055,"endTime":2366.985,"body":"uh, and mo mainly on the tech."},{"startTime":2366.985,"endTime":2367.915,"body":"If that was all it was."},{"startTime":2368.875,"endTime":2372.025,"body":", we wouldn't have all of these"},{"startTime":2368.875,"endTime":2372.025,"body":"philosophical kind of debates and stuff,"},{"startTime":2372.175,"endTime":2374.335,"body":"but I feel like that was the draw card."},{"startTime":2374.335,"endTime":2375.565,"body":"That's, that's the ideal state, though."},{"startTime":2375.565,"endTime":2376.705,"body":"That means nothing's going wrong."},{"startTime":2376.705,"endTime":2377.755,"body":"People aren't getting scammed."},{"startTime":2377.755,"endTime":2380.425,"body":"That's, you know, when you"},{"startTime":2377.755,"endTime":2380.425,"body":"look, value is always there."},{"startTime":2380.425,"endTime":2384.385,"body":"I mean, yeah, nobody's up in arms about"},{"startTime":2380.425,"endTime":2384.385,"body":"the new version of HDP that's coming out."},{"startTime":2385.195,"endTime":2385.695,"body":". No, exactly."},{"startTime":2385.695,"endTime":2386.335,"body":"Exactly."},{"startTime":2386.575,"endTime":2390.715,"body":"But like Exactly, because we're,"},{"startTime":2386.575,"endTime":2390.715,"body":"because we had that, the argument was"},{"startTime":2390.715,"endTime":2392.005,"body":"like, Oh, we shouldn't have had that."},{"startTime":2392.005,"endTime":2392.755,"body":"And look what it's led to."},{"startTime":2393.52,"endTime":2396.16,"body":"The other, the flip side, there's"},{"startTime":2393.52,"endTime":2396.16,"body":"always a sort of lining in everything."},{"startTime":2396.16,"endTime":2398.23,"body":"Every situation, Well, most situations."},{"startTime":2398.23,"endTime":2401.2,"body":"And the flip side with this is"},{"startTime":2398.23,"endTime":2401.2,"body":"that it brought a lot of attention."},{"startTime":2401.26,"endTime":2405.22,"body":"It brought a lot of people into the space"},{"startTime":2401.26,"endTime":2405.22,"body":"that are going to do really good things"},{"startTime":2405.22,"endTime":2407.23,"body":"in the space that would not be here."},{"startTime":2407.26,"endTime":2410.86,"body":"Had it not been for the speculation,"},{"startTime":2407.26,"endTime":2410.86,"body":"I don't think we would be here."},{"startTime":2410.91,"endTime":2414.42,"body":"Because we were busy doing our"},{"startTime":2410.91,"endTime":2414.42,"body":"own data consulting work with"},{"startTime":2414.42,"endTime":2417.299,"body":"wealth managers and you know,"},{"startTime":2414.42,"endTime":2417.299,"body":"doing the tra fire kind of stuff."},{"startTime":2417.75,"endTime":2422.16,"body":"Um, we got brought in because of"},{"startTime":2417.75,"endTime":2422.16,"body":"a gaming project in the space,"},{"startTime":2422.16,"endTime":2424.47,"body":"and it's not something we would've"},{"startTime":2422.16,"endTime":2424.47,"body":"chased or even known about."},{"startTime":2424.475,"endTime":2427.529,"body":"We, we saw it, we were just like"},{"startTime":2424.475,"endTime":2427.529,"body":"everyone else seeing it in the news and"},{"startTime":2427.529,"endTime":2428.819,"body":"stuff and not looking under the hood."},{"startTime":2429.12,"endTime":2431.819,"body":"It's because of the speculation"},{"startTime":2429.12,"endTime":2431.819,"body":"that brought us in, but now we're"},{"startTime":2431.819,"endTime":2434.19,"body":"trying to, we want to be here"},{"startTime":2431.819,"endTime":2434.19,"body":"and do some good in the space."},{"startTime":2434.19,"endTime":2434.94,"body":"Is that how you made the."},{"startTime":2435.47,"endTime":2437.32,"body":"From one traditional finance."},{"startTime":2437.35,"endTime":2437.56,"body":"Yep."},{"startTime":2437.8,"endTime":2438.25,"body":"Oh really?"},{"startTime":2438.25,"endTime":2439.75,"body":"We got asked to the gaming project."},{"startTime":2439.78,"endTime":2442.57,"body":"It was a gaming project to help"},{"startTime":2439.78,"endTime":2442.57,"body":"build out the analytics and help"},{"startTime":2442.57,"endTime":2444.13,"body":"them build out the gaming economic."},{"startTime":2444.13,"endTime":2446.04,"body":"So shout out to Paul"},{"startTime":2444.13,"endTime":2446.04,"body":"Mos cuz they're the one."},{"startTime":2446.5,"endTime":2448.66,"body":"Help bring me into the space and stuff."},{"startTime":2448.66,"endTime":2451.96,"body":"And I opened up my eyes to all the"},{"startTime":2448.66,"endTime":2451.96,"body":"things that we've been creating"},{"startTime":2451.96,"endTime":2455.439,"body":"so far, and they're still, you"},{"startTime":2451.96,"endTime":2455.439,"body":"know, forging forward and stuff."},{"startTime":2455.439,"endTime":2458.98,"body":"So they're one of those projects that is,"},{"startTime":2455.439,"endTime":2458.98,"body":"you know, actually surviving and stuff."},{"startTime":2459.189,"endTime":2459.31,"body":"Yeah."},{"startTime":2459.339,"endTime":2462.879,"body":"Um, where many don't, but if it wasn't"},{"startTime":2459.339,"endTime":2462.879,"body":"for them, we, I wouldn't have been"},{"startTime":2462.939,"endTime":2464.29,"body":"looking at all of this kind of stuff."},{"startTime":2464.29,"endTime":2467.41,"body":"So it's really interesting"},{"startTime":2464.29,"endTime":2467.41,"body":"how you get into the space,"},{"startTime":2467.41,"endTime":2468.43,"body":"what are the different angles?"},{"startTime":2468.43,"endTime":2471.009,"body":"And then when you're in, if you"},{"startTime":2468.43,"endTime":2471.009,"body":"like me, you go down the rabbit."},{"startTime":2471.79,"endTime":2474.759,"body":"You look back in history, and"},{"startTime":2471.79,"endTime":2474.759,"body":"I think we kind of talked about"},{"startTime":2474.759,"endTime":2476.32,"body":"the modern Renaissance thing."},{"startTime":2476.44,"endTime":2476.529,"body":"Mm-hmm."},{"startTime":2477.13,"endTime":2481.24,"body":"last time, and you know, to catch people"},{"startTime":2477.13,"endTime":2481.24,"body":"up if that short video doesn't go out."},{"startTime":2481.245,"endTime":2485.44,"body":"Or maybe it does, I can't remember so"},{"startTime":2481.245,"endTime":2485.44,"body":"many things going on, but the modern"},{"startTime":2485.44,"endTime":2488.5,"body":"Renaissance and why they're calling it,"},{"startTime":2485.44,"endTime":2488.5,"body":"because we had the Renaissance where"},{"startTime":2488.5,"endTime":2490.59,"body":"you had the printing press created."},{"startTime":2490.81,"endTime":2495.79,"body":"So instead of monks being the only ones,"},{"startTime":2490.81,"endTime":2495.79,"body":"very manual writing, creating books."},{"startTime":2495.79,"endTime":2497.259,"body":"And do you have a monk to write your book?"},{"startTime":2497.32,"endTime":2497.71,"body":"Yes."},{"startTime":2497.71,"endTime":2497.89,"body":"No."},{"startTime":2498.04,"endTime":2498.25,"body":"Okay."},{"startTime":2498.25,"endTime":2501.505,"body":"Well, too, Well, Printing"},{"startTime":2498.25,"endTime":2501.505,"body":"press solved that, right?"},{"startTime":2501.505,"endTime":2501.565,"body":"Yeah."},{"startTime":2501.565,"endTime":2503.485,"body":"And people could communicate far more."},{"startTime":2503.725,"endTime":2507.775,"body":"Then you also had the ledger that"},{"startTime":2503.725,"endTime":2507.775,"body":"was created and the Mechi family"},{"startTime":2508.165,"endTime":2510.895,"body":"were able to pioneer its usage."},{"startTime":2510.895,"endTime":2515.665,"body":"They didn't inventor, but they, um,"},{"startTime":2510.895,"endTime":2515.665,"body":"were very strong users of it and were"},{"startTime":2515.665,"endTime":2519.895,"body":"able to get themselves to reach, but"},{"startTime":2515.665,"endTime":2519.895,"body":"also back a lot of projects, projects"},{"startTime":2519.895,"endTime":2521.905,"body":"being sailing ventures to the new."},{"startTime":2522.91,"endTime":2525.55,"body":"Creating effectively the mercantile age."},{"startTime":2525.55,"endTime":2528.4,"body":"And where we went to from"},{"startTime":2525.55,"endTime":2528.4,"body":"there was all new types of art."},{"startTime":2528.46,"endTime":2529.39,"body":"Oh, NFTs."},{"startTime":2529.42,"endTime":2533.14,"body":"Well, no, the Mona Lisa and other"},{"startTime":2529.42,"endTime":2533.14,"body":"types of art that probably had"},{"startTime":2533.44,"endTime":2535.45,"body":"their version of hate and stuff."},{"startTime":2535.455,"endTime":2536.38,"body":"Like, what is this?"},{"startTime":2536.38,"endTime":2537.97,"body":"Oh, there's perspective in 3d."},{"startTime":2537.97,"endTime":2538.57,"body":"This is weird."},{"startTime":2538.57,"endTime":2542.44,"body":"And then it becomes accepted, hated,"},{"startTime":2538.57,"endTime":2542.44,"body":"loved, and then can't do without."},{"startTime":2542.8,"endTime":2545.38,"body":"But then from that, where did it go?"},{"startTime":2545.47,"endTime":2547.56,"body":"And what's interesting is"},{"startTime":2545.47,"endTime":2547.56,"body":"because we can look back."},{"startTime":2548.2,"endTime":2553.24,"body":"We got to the Great American"},{"startTime":2548.2,"endTime":2553.24,"body":"experiment where people went west and"},{"startTime":2553.45,"endTime":2555.55,"body":"effectively they were all builders."},{"startTime":2555.73,"endTime":2558.31,"body":"They all went out there"},{"startTime":2555.73,"endTime":2558.31,"body":"and they experiment."},{"startTime":2558.315,"endTime":2561.4,"body":"It was called the Great"},{"startTime":2558.315,"endTime":2561.4,"body":"American Experiment, right?"},{"startTime":2561.73,"endTime":2565.33,"body":"So if we wonder where we are going"},{"startTime":2561.73,"endTime":2565.33,"body":"back to that other question there."},{"startTime":2565.33,"endTime":2567.49,"body":"I think we're gonna continue this great."},{"startTime":2568.12,"endTime":2570.16,"body":"Um, let's not call it"},{"startTime":2568.12,"endTime":2570.16,"body":"American experiment and stuff."},{"startTime":2570.16,"endTime":2570.879,"body":"Global experiment now."},{"startTime":2570.879,"endTime":2574.33,"body":"Global experiment where we are"},{"startTime":2570.879,"endTime":2574.33,"body":"failing fast and learning together."},{"startTime":2574.33,"endTime":2576.279,"body":"How do we share value better?"},{"startTime":2576.279,"endTime":2577.27,"body":"How do we coordinate?"},{"startTime":2577.27,"endTime":2581.5,"body":"Because people are realizing actually"},{"startTime":2577.27,"endTime":2581.5,"body":"that, Oh, Dows decentralized, autonomous"},{"startTime":2581.504,"endTime":2583.24,"body":"organizations, everyone gets a vote."},{"startTime":2583.24,"endTime":2585.279,"body":"Well, A, not everyone votes, right?"},{"startTime":2585.52,"endTime":2588.7,"body":"B, some things are not meant to be a dow."},{"startTime":2588.7,"endTime":2591.669,"body":"Some things are not meant to be"},{"startTime":2588.7,"endTime":2591.669,"body":"decentralized in terms of how."},{"startTime":2592.315,"endTime":2593.424,"body":"Forge things forward."},{"startTime":2593.424,"endTime":2598.035,"body":"Look at, um, the Wall Street movement"},{"startTime":2593.424,"endTime":2598.035,"body":"like Occupy Wall Street that kind of had."},{"startTime":2598.87,"endTime":2600.069,"body":"No leaders and stuff."},{"startTime":2600.069,"endTime":2603.04,"body":"And so it, you know, it was like"},{"startTime":2600.069,"endTime":2603.04,"body":"everyone was like running it."},{"startTime":2603.04,"endTime":2603.879,"body":"It didn't work."},{"startTime":2603.879,"endTime":2606.97,"body":"So there are certain things where you"},{"startTime":2603.879,"endTime":2606.97,"body":"do need elements of centralization."},{"startTime":2607.27,"endTime":2609.94,"body":"It's up to us to see that"},{"startTime":2607.27,"endTime":2609.94,"body":"these things are technology."},{"startTime":2609.94,"endTime":2613.93,"body":"There is a paradigm shift in how we"},{"startTime":2609.94,"endTime":2613.93,"body":"think about value, but if we boil"},{"startTime":2613.93,"endTime":2617.29,"body":"it down technology, how do we use"},{"startTime":2613.93,"endTime":2617.29,"body":"it to make the world a better place?"},{"startTime":2617.5,"endTime":2621.16,"body":"And that's what we are all about"},{"startTime":2617.5,"endTime":2621.16,"body":"in terms of our defi meetups, in"},{"startTime":2621.16,"endTime":2624.52,"body":"terms of the things that we do in"},{"startTime":2621.16,"endTime":2624.52,"body":"workshops and education and the"},{"startTime":2624.52,"endTime":2626.08,"body":"clients that come in and talk to us."},{"startTime":2626.08,"endTime":2627.19,"body":"And that we invite more and."},{"startTime":2627.79,"endTime":2631.899,"body":"We help them understand what it is that"},{"startTime":2627.79,"endTime":2631.899,"body":"they can provide value to if they're"},{"startTime":2631.899,"endTime":2636.609,"body":"doing a shoe project, a basketball"},{"startTime":2631.899,"endTime":2636.609,"body":"project, a restaurant project, or an arts"},{"startTime":2636.615,"endTime":2640.12,"body":"project, or even working with indigenous"},{"startTime":2636.615,"endTime":2640.12,"body":"kind of artists and stuff, like how"},{"startTime":2640.12,"endTime":2643.959,"body":"do we actually help them provide value"},{"startTime":2640.12,"endTime":2643.959,"body":"back to what they're doing, Whatever"},{"startTime":2643.959,"endTime":2647.529,"body":"industry that's in, it's bringing"},{"startTime":2643.959,"endTime":2647.529,"body":"a strong purpose to quite a complex"},{"startTime":2647.529,"endTime":2650.62,"body":"and convoluted market and ecosystem."},{"startTime":2651.279,"endTime":2651.609,"body":"S Yeah."},{"startTime":2651.91,"endTime":2655.839,"body":"I just came back from a talk, um, I was"},{"startTime":2651.91,"endTime":2655.839,"body":"at Fishburners before this and doing."},{"startTime":2656.32,"endTime":2659.53,"body":"And in one hour trying to pack in all"},{"startTime":2656.32,"endTime":2659.53,"body":"the things that are filling in my head."},{"startTime":2659.53,"endTime":2660.22,"body":"It's difficult."},{"startTime":2660.31,"endTime":2662.71,"body":"like, I wish we had more time,"},{"startTime":2660.31,"endTime":2662.71,"body":"but yeah, there's so much here."},{"startTime":2662.71,"endTime":2666.58,"body":"That's why it can't just be, um,"},{"startTime":2662.71,"endTime":2666.58,"body":"us doing it ourselves and stuff."},{"startTime":2666.58,"endTime":2669.55,"body":"There needs to be more and more people"},{"startTime":2666.58,"endTime":2669.55,"body":"having multiple conversations about"},{"startTime":2669.55,"endTime":2673.12,"body":"this and when they're ready, you"},{"startTime":2669.55,"endTime":2673.12,"body":"know, we're here to invite them in."},{"startTime":2673.15,"endTime":2675.34,"body":"So, and hopefully you'll see"},{"startTime":2673.15,"endTime":2675.34,"body":"them on your podcast as well."},{"startTime":2676.21,"endTime":2676.45,"body":"Awesome."},{"startTime":2676.75,"endTime":2677.5,"body":"That would be amazing."},{"startTime":2677.68,"endTime":2678.04,"body":"Yeah."},{"startTime":2678.67,"endTime":2680.59,"body":"Well, Mark, it's been an"},{"startTime":2678.67,"endTime":2680.59,"body":"absolute pleasure having your."},{"startTime":2681.205,"endTime":2685.345,"body":"Do you wanna do a bit of, a bit of"},{"startTime":2681.205,"endTime":2685.345,"body":"a plug in for Oz Defi and uh Sure."},{"startTime":2685.345,"endTime":2686.335,"body":"Even not centralized."},{"startTime":2686.425,"endTime":2687.325,"body":"Tell us, tell us a bit about it."},{"startTime":2687.325,"endTime":2687.745,"body":"Yeah, yeah."},{"startTime":2687.745,"endTime":2688.495,"body":"What's going on there?"},{"startTime":2688.615,"endTime":2693.625,"body":"So, Not Centralized is the Venture Studio"},{"startTime":2688.615,"endTime":2693.625,"body":"that backs everything that we are doing,"},{"startTime":2693.775,"endTime":2695.605,"body":"and so we work on other people's projects."},{"startTime":2695.605,"endTime":2700.105,"body":"We help them from everything from capital"},{"startTime":2695.605,"endTime":2700.105,"body":"raising to creating their financial"},{"startTime":2700.11,"endTime":2702.325,"body":"models and pitch decks and honing that."},{"startTime":2702.94,"endTime":2706.629,"body":"Doing all the work around smart"},{"startTime":2702.94,"endTime":2706.629,"body":"contracts, marketing, pr, recruitment."},{"startTime":2706.93,"endTime":2711.58,"body":"We've got partners that do all of those"},{"startTime":2706.93,"endTime":2711.58,"body":"awesome things and we, we have you guys"},{"startTime":2711.58,"endTime":2712.99,"body":"to help us out with that stuff as well."},{"startTime":2712.995,"endTime":2714.129,"body":"So you guys are amazing."},{"startTime":2714.49,"endTime":2718.72,"body":"And then one of our biggest and most"},{"startTime":2714.49,"endTime":2718.72,"body":"prominent projects around community"},{"startTime":2718.72,"endTime":2720.79,"body":"building is the Oz d I Association."},{"startTime":2721.12,"endTime":2723.549,"body":"So that is all about bringing"},{"startTime":2721.12,"endTime":2723.549,"body":"the community together"},{"startTime":2723.549,"endTime":2725.08,"body":"across five states so far."},{"startTime":2725.08,"endTime":2726.79,"body":"But the discord is open for all."},{"startTime":2726.79,"endTime":2730.21,"body":"We do have members in Tasmania, in"},{"startTime":2726.79,"endTime":2730.21,"body":"the Northern Territory, in the a c t."},{"startTime":2730.21,"endTime":2731.319,"body":"We just don't have meetups."},{"startTime":2732.055,"endTime":2735.145,"body":"Yet, but hopefully coming"},{"startTime":2732.055,"endTime":2735.145,"body":"it's, it's coming by, you know."},{"startTime":2735.145,"endTime":2735.205,"body":"Yeah."},{"startTime":2735.205,"endTime":2736.735,"body":"The goal is every state . Yeah."},{"startTime":2736.735,"endTime":2741.385,"body":"Every city, every major city in"},{"startTime":2736.735,"endTime":2741.385,"body":"Australia A made up to do with the os DFI"},{"startTime":2741.595,"endTime":2744.085,"body":"association and Incredible It will be."},{"startTime":2744.09,"endTime":2747.235,"body":"And we're getting, so if people want"},{"startTime":2744.09,"endTime":2747.235,"body":"to follow along, you know, we're on"},{"startTime":2747.235,"endTime":2753.205,"body":"Twitter, so a s DFI on Twitter will not"},{"startTime":2747.235,"endTime":2753.205,"body":"centralize on Twitter or defi.org.au."},{"startTime":2753.685,"endTime":2755.185,"body":"Um, and I'm sure we'll put"},{"startTime":2753.685,"endTime":2755.185,"body":"this in the show notes."},{"startTime":2755.185,"endTime":2758.455,"body":"Yeah, we'll, we'll show notes for"},{"startTime":2755.185,"endTime":2758.455,"body":"everyone and not centralize dot."},{"startTime":2758.964,"endTime":2759.714,"body":"Is is the other one."},{"startTime":2759.714,"endTime":2760.105,"body":"But yeah."},{"startTime":2760.194,"endTime":2764.035,"body":"Um, feel free to come chat with"},{"startTime":2760.194,"endTime":2764.035,"body":"Village or us and there we go."},{"startTime":2764.365,"endTime":2764.605,"body":"Amazing."},{"startTime":2764.904,"endTime":2765.235,"body":"Thank you."},{"startTime":2765.325,"endTime":2765.805,"body":"Thank you, Mark."},{"startTime":2765.805,"endTime":2766.404,"body":"It's been a pleasure."},{"startTime":2766.444,"endTime":2767.665,"body":"Luke, Absolut, Luke, thank you."},{"startTime":2767.665,"endTime":2768.415,"body":"Yeah, fantastic."},{"startTime":2768.475,"endTime":2769.645,"body":"Thank you very much guys."},{"startTime":2770.185,"endTime":2770.694,"body":"Been wonderful."},{"startTime":2771.154,"endTime":2772.285,"body":"Thanks to our listeners."},{"startTime":2792.415,"endTime":2794.045,"body":"Hope you enjoyed today's episode."},{"startTime":2794.134,"endTime":2796.714,"body":"Please feel free to check us"},{"startTime":2794.134,"endTime":2796.714,"body":"out on our website, Digital"},{"startTime":2796.714,"endTime":2798.634,"body":"village.network for our past episodes."},{"startTime":2798.935,"endTime":2802.024,"body":"We'll be back next month, but on the"},{"startTime":2798.935,"endTime":2802.024,"body":"last Wednesday of every month as we are."},{"startTime":2802.41,"endTime":2804.39,"body":"With more great stories and guests see."}]}