00:11:44 · Hugo Philion
[00:11:44] S6: Of the equation is fairly nascent technology. I think being able to distribute and consensus will become more and more useful over time. Essentially, there is value in being able to come to consensus across some item of data across various different verticals. You know, our biggest space, the space we're most interested in researching, thinking about is around the outputs of machine learning models. Probably provides the answer to what is blockchain useful for. My exposure to finance was really post the large financial crisis. The ideas around what something is worth fall apart when currency is printed. People were making trades based expectation of government action rather than based on any fundamental strength in the economy. The sort of large excess of capital that was put into the markets post the GFC really led to a position where valuations were massively out of whack. And so when you spend your days thinking about the idea of taking the fundamental thing that values assets, it's a very interesting thing because it removes that ability of a group of people to pervert essentially the entire transmission mechanisms of all financial markets. And that's what has happened. The idea that could be a technology that removes that from the equation is very, very appealing. People started using Bitcoin in places like Venezuela to hedge out insane inflation that was collapsing their currents. Crypto broadly has solved the question of how can I move dollars across the world really quickly and easily without having to enter an I band? The DeFi that is built fundamentally around essentially a dollar based stablecoin system and native tokens because that's essentially what DeFi is and I think that could expand as people use crypto tokens more whether it be stablecoins or the native. So if we're lucky, Flare will be one of the key components in how people use data on blockchains. That's what we're building. That's essentially where we're going. We're not a smart contract project focused on Ripple. We have a much, much larger ambition, and that ambition revolves around data and off chain compute. So in five years' time, I'd like to see a nontrivial percentage of the data that is used in blockchain being sourced from Flare, regardless of whether it's being used on Flare as a chain, whether it's being used on Ethereum or any other new chain that comes up.
00:14:20 · Hugo Philion, S3
Success to me would be that the data came from Flare, moved from Flare. In five years, it's feasible that our off chain compute strategy could result in applications that go way beyond DeFi, way beyond having value for speculative reason and much more involved in people's day to day lives because it's a valuable application in and of itself. [00:14:56] S3: The Vuori core short moves with you. With everyday versatility and classic athletic fit. It's the one short for everything your day brings. Invest in your happiness and get 20 off your first purchase at viore.com/coretwenty. That's vuori.com/kore2zero. Exclusions apply. Visit the website for full terms and conditions.