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<v Speaker 1>Hey, folks.

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<v Speaker 2>We're recording at Chainlink's smart Con event, and joining me

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<v Speaker 2>is vivek Ramon, who is the co founder and CEO

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<v Speaker 2>of Etherealized. VIVEC.

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<v Speaker 1>Great to have you, Thanks so much for having me.

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<v Speaker 1>Good to see you.

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<v Speaker 2>Yeah, Vivic, tell us a bit about yourself and what

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<v Speaker 2>is etheroralized.

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<v Speaker 3>So I'm not a crypto person. I'm actually a Wall

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<v Speaker 3>Street person, which is finally in vogue now. I spent

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<v Speaker 3>eleven years on Wall Street at the traditional finance banks

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<v Speaker 3>Morgan Stanley, UBS, Stochebank, No Mira from twenty twenty nine

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<v Speaker 3>to twenty twenty and I traded a bunch of credit

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<v Speaker 3>products which are we're the backbone of the US economy.

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<v Speaker 3>But their technology, their operations, their settlement was the most

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<v Speaker 3>stone age type technology I've ever seen, and so I

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<v Speaker 3>did it for eleven years, built up an amazing network,

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<v Speaker 3>love everyone on Wall Street, but nothing ever changed in

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<v Speaker 3>tech land.

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<v Speaker 1>So I left Wall Street, which.

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<v Speaker 3>People don't do that often, and shared found Ethereum and

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<v Speaker 3>I was like, this thing is It's the platform where

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<v Speaker 3>Wall Street should tokenize and trade their assets. So I've

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<v Speaker 3>been working on that for five years independently. For a

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<v Speaker 3>long time, I knocking on a lot of doors, getting

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<v Speaker 3>a lot of rejections last year when the regulatory wind shifted,

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<v Speaker 3>when the ethtfs were approved, when Larry Fink started saying

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<v Speaker 3>the whole world's gonna be tokenized, I was like, now

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<v Speaker 3>it's time to actually mobilized and institutionalized. So sure I

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<v Speaker 3>set up Etherealized, backed by the Ethereum Foundation and Metallic

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<v Speaker 3>with support from the etherorem ecosystem overall to build the

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<v Speaker 3>institutional arm for.

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<v Speaker 1>The Etherem ecosystem. And that's that's what Etherialized is today.

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<v Speaker 2>That's incredible. And to your point, Etheroreum has become this

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<v Speaker 2>layer that all of Wall Street and all the tradifi

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<v Speaker 2>forms want to build on. I mean Black Rock launched

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<v Speaker 2>Biddle on their first Exactly what is it like looking

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<v Speaker 2>back again you're a Wall Street guy and seeing all

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<v Speaker 2>these institutions and firms coming in.

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<v Speaker 3>It's it's almost like sigh over relief because I felt

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<v Speaker 3>like I was wrong for so long. I was like,

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<v Speaker 3>I was like, I swear that I see blockchain as

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<v Speaker 3>a solution to Wall Streets. Just technology and operational issues

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<v Speaker 3>and everything wants to upgrade for the technology era. But

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<v Speaker 3>the financial sector hadn't, so I was like, am I crazy?

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<v Speaker 3>And after some time when you saw the regulatory hostility,

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<v Speaker 3>I was like, will I ever be able to build

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<v Speaker 3>in the US with a financial platform? And so seeing

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<v Speaker 3>that it's finally not only vindicated, but like now all

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<v Speaker 3>trientify firms are they have a blockchain mandate, they actually

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<v Speaker 3>have to integrate blockchains. Just it's good to see that

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<v Speaker 3>we will be able to realize the potential of blockchains

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<v Speaker 3>becoming the hub for all financial activity as well as

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<v Speaker 3>much more than that. But to start getting the financial

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<v Speaker 3>sector financial sector on board is a is a really

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<v Speaker 3>really good upgrade to the whole system and a really

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<v Speaker 3>cool use case to show.

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<v Speaker 2>It feels like the markets, the economies, and possibly parts

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<v Speaker 2>of the government will all run on blockchain rails eventually.

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<v Speaker 2>It seems that's the direction that Puck is heading in.

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<v Speaker 3>I think that the ironic part is when blockchains are

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<v Speaker 3>that backbone that you said for governments and for the

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<v Speaker 3>financial sector and for social media and for everything, no

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<v Speaker 3>one's going to know they're using a blockchain, so etherea

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<v Speaker 3>is going to be invisible, but it'll be everywhere, kind

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<v Speaker 3>of like the Internet, Like no one thinks about the Internet,

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<v Speaker 3>but it's everywhere. But now we have the Internet for money,

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<v Speaker 3>and it's safe and it's secure, and it's reliable, and

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<v Speaker 3>it's global and it's not owned by anyone. And that's

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<v Speaker 3>why like Ethereum is such a standout platform to win

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<v Speaker 3>this blockchain race.

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<v Speaker 1>Chikin's one digital gold.

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<v Speaker 3>Ethereum I think is gonna win the platform for everything,

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<v Speaker 3>and I want to make sure that happens because that

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<v Speaker 3>is the ultimate potential of blockchains. So yeah, we're here

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<v Speaker 3>to advance Etheroereum responsibly and get to show real use cases.

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<v Speaker 2>So walk us through what's the mission of etherorialized and

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<v Speaker 2>how can folks leverage the platform and so forth.

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<v Speaker 3>So Etheroralized started off educating institutions about all the things

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<v Speaker 3>they can do with blockchains, and that includes tokenization. That

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<v Speaker 3>includes building their own custom blockchains, which are layer twos

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<v Speaker 3>on Ethereum, and that includes using applications, building applications, decentralized finance,

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<v Speaker 3>I like to call it decentralized finance, programmatic finance programming,

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<v Speaker 3>or assets actually unlock automation. We started educating about all

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<v Speaker 3>of that across the board to the byside of Wall Street,

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<v Speaker 3>to the cell side of Wall Street, to asset managers,

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<v Speaker 3>to investment advisors and taught about everything very quickly. We

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<v Speaker 3>realize that everyone wants to deploy something in Ethereum, but

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<v Speaker 3>no one has the expertise to do it.

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<v Speaker 1>So we built up.

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<v Speaker 3>An engineering arm. So we started building the solutions. So

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<v Speaker 3>we're building ways. We're building ways to tokenize assets, We're

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<v Speaker 3>building ways to build different layer twos. We're building infrastructure

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<v Speaker 3>like privacy, so tokenized assets can actually be compliant trade privately.

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<v Speaker 3>So we're building a lot of tools, and the idea

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<v Speaker 3>is to onboard as many assets, as many institutions, and

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<v Speaker 3>as many new players into the Etherorem ecosystem.

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<v Speaker 2>So we've seen Etherorem's ecosystem blossom and grows significantly. And

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<v Speaker 2>you have a lot of layer two so are you

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<v Speaker 2>also working with the layer twos?

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<v Speaker 1>Absolutely?

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<v Speaker 3>I think the layer twos are such an important part

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<v Speaker 3>of Etherem's ecosystem. I think any blockchain system that thinks

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<v Speaker 3>that the whole financial sector will live on one layer

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<v Speaker 3>is it's a little naive in my view. I think

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<v Speaker 3>every firm wants their own customized blockchain, they want their

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<v Speaker 3>own block space, they want some privacy, some public. They

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<v Speaker 3>want some compliance integrations into some parts of the chain.

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<v Speaker 3>That is only possible with a modular architecture, and that's

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<v Speaker 3>where the layer twos come in. The layer twos can

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<v Speaker 3>be faster, they can be cheaper, they can have different

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<v Speaker 3>security assumptions, they can have different Wallstreet players on them,

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<v Speaker 3>they can onboard the world that way.

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<v Speaker 1>So I think the layer twos, I see a.

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<v Speaker 3>World We're gonna have a blossoming amount of layer twos

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<v Speaker 3>all plugging into this liquidity hub that's Ethereum Layer one.

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<v Speaker 1>So do you see a future.

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<v Speaker 2>And I'll give the example of Sony because they built Sonyum.

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<v Speaker 2>I believe a layer that many brands and companies this

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<v Speaker 2>is kind of the model build our own blockchain using

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<v Speaker 2>the security layer of the Ethereum Layer one and getting

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<v Speaker 2>the smart contract benefits and all that jazz.

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<v Speaker 3>It's almost like saying companies build on the Internet, but

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<v Speaker 3>they build their own companies, Like they're not building new

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<v Speaker 3>internets every time, but they build their companies on top

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<v Speaker 3>of the Internet. So companies want to maximize profits, and

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<v Speaker 3>companies want to have their own ecosystem and have their

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<v Speaker 3>own customer retention. I always say, like Ethereum isn't a

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<v Speaker 3>it's not a charity. It's the best place to do business.

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<v Speaker 3>If a company wants to deplub blocking strategy, you do

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<v Speaker 3>it on Ethereum. You build your own layer two, You

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<v Speaker 3>have your own customer attention, you have your new revenue sources,

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<v Speaker 3>you have a new innovation. Coinbase did it with Base,

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<v Speaker 3>Robinhood's doing it with their chain, and yeah, Sonium, like

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<v Speaker 3>people outside of finance, there's a lot of potential outside

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<v Speaker 3>of finance too. Sonium world Chain is doing this with

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<v Speaker 3>their own ecosystem. There's so many and we're at the

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<v Speaker 3>we're at the very start of the adoption curve, so

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<v Speaker 3>there's gonna be a lot more.

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<v Speaker 2>It's amazing and I can't wait for the Clarity Act

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<v Speaker 2>to pass, where there's going to be more clarity where

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<v Speaker 2>these companies can now don't have to look over your shoulder,

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<v Speaker 2>there's no ambiguity. They can just hit the ground, put

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<v Speaker 2>their head down and start working. Are you expecting like

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<v Speaker 2>even more innovation and incredible stuff coming out after that?

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<v Speaker 1>Oh?

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<v Speaker 3>I think the Genius Act the stable Coin Bill was

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<v Speaker 3>the prelude, but look at what happened. The stable Coin

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<v Speaker 3>Bill is now in law and every single bank, every

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<v Speaker 3>single finteche everyone's launching their own stable. So see what

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<v Speaker 3>happens with a little bit of regulatory clarity. When the

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<v Speaker 3>Clarity Act ultimately passes, it's gonna unleash I think ten

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<v Speaker 3>x the innovation because that applies to defied, applies to

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<v Speaker 3>other retailgnized assets, it applies to frameworks for all different

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<v Speaker 3>kinds of blockschain architectures.

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<v Speaker 1>That's going to unlock some real upsides.

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<v Speaker 3>So I mean, I got the opportunity earlier this year

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<v Speaker 3>to testify in front of Congress about the Clarity Acts,

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<v Speaker 3>so we're familiar with it. We're very supportive, and it's

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<v Speaker 3>a matter of when, not if. But when blockschain's got

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<v Speaker 3>codified in the law, then we'll see the real the

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<v Speaker 3>real potential. The bull market hasn't even started yet. This

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<v Speaker 3>this many little like up and down and aneath is nothing.

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<v Speaker 3>I think the real thing is going to happen when

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<v Speaker 3>we have regulatory clarity. Every company is deploying and then

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<v Speaker 3>you have ethereum the networks to be pervasive and the

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<v Speaker 3>assets gonna be worth trillions.

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<v Speaker 1>And that's what I'm excited for.

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<v Speaker 2>It's amazing. I can't wait to see what innovation comes

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<v Speaker 2>out after this bill passes. Absolutely talk to us about

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<v Speaker 2>etherialize and how you're working with institutions. I don't know

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<v Speaker 2>if you can name drop, but you know, like give

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<v Speaker 2>us some mock scenario of maybe someone who came to

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<v Speaker 2>you and say, hey, we want to do this and

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<v Speaker 2>how you're helping them.

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<v Speaker 3>Unfortunately, can't name drop, but that's a that's a good

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<v Speaker 3>thing out of that thing, right. But we like to

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<v Speaker 3>say the worthy ambassadors to Ethereum because there's a lot

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<v Speaker 3>of things that you can do. So some institutions want

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<v Speaker 3>to tokenize assets perfect, we'll either help do it for them,

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<v Speaker 3>We'll point them at partners. Some institutions want to create

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<v Speaker 3>their own Layer twos. Again, we'll do it for them.

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<v Speaker 3>We'll point into partners. Some want to deploy on Layer twos.

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<v Speaker 3>Some want to just learn about the space. Someonet to

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<v Speaker 3>learn about what DeFi is. Some want to design privacy architecture.

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<v Speaker 3>We want to be the one stop shop for institutional

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<v Speaker 3>adoption for Ethereum. So sure it's not Ethereum isn't one

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<v Speaker 3>size fits all.

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<v Speaker 1>That's a good thing. That's why I have the Layer

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<v Speaker 1>two roadmap.

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<v Speaker 3>We're here to be a funnel and sort of guide

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<v Speaker 3>people and navigate people through the potential what this platform

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<v Speaker 3>can do.

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<v Speaker 2>Have you had anybody approach you, I mean, maybe too

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<v Speaker 2>early for this, because there's still we need the Cloudy Act.

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<v Speaker 2>I want to launch my own token, rewards token to

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<v Speaker 2>build my brand and customer retention and stuff like that.

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<v Speaker 3>Absolutely, and we do need the Clarity Act to make

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<v Speaker 3>it like very low risk. All this should be codified.

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<v Speaker 3>Love this is such a positive something. When I was testifying,

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<v Speaker 3>I told I mean both sides of Congress or the

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<v Speaker 3>Republicans Democrats, and I was like, this is the most

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<v Speaker 3>non partisan technology ever. This makes Democrats should love this

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<v Speaker 3>because it democratizes literally access to finance. Republicans should love

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<v Speaker 3>this because it increases profit margins and creates business opportunity.

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<v Speaker 3>I don't see a more positive some technology out there.

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<v Speaker 3>Maybe AI, but even AI, like I think blockchains are

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<v Speaker 3>more positive some than AI is.

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<v Speaker 1>So so yeah, people are waiting on.

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<v Speaker 3>Clarity, but yes, absolutely rewards tokens, like everything outside of

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<v Speaker 3>finance is also fair game. And that's that's where it's

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<v Speaker 3>gonna be excited to see the innovation that happens on Etherium.

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<v Speaker 2>Oh for sure. So what's on your role map, what

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<v Speaker 2>can we expect in twenty twenty six and things.

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<v Speaker 3>Like that, lots more tokenized assets, lots more intitutional layer

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<v Speaker 3>twos and new novel applications, and real progress on zero

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<v Speaker 3>knowledge proof technology and architecture and privacy.

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<v Speaker 2>Let's double click on the zero knowledge proof aspect, because

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<v Speaker 2>privacy is very important to a lot of these institutions.

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<v Speaker 2>How are you finding that balance with connecting to a

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<v Speaker 2>or building on a public blockchain, connecting to other public

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<v Speaker 2>blockchains and having privacy.

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<v Speaker 1>I think it's stable stakes.

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<v Speaker 3>I think that the space hasn't worked yet, and that's

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<v Speaker 3>why we've seen so many iterations over the last ten

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<v Speaker 3>years of privately held blockchains, company blockchains, consortium chains. The

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<v Speaker 3>reason it hasn't opened up, and that's the reason we

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<v Speaker 3>haven't seen blockchain blossom, is it hasn't happened on public networks.

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<v Speaker 3>So you do need public networks, but on those public

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<v Speaker 3>networks you need the ability to have selective privacy and

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<v Speaker 3>programmable privacy, and we're getting there luckily.

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<v Speaker 1>Ethereums. Not luckily, it's by design.

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<v Speaker 3>Etherem's architecture has invested in zero knowledge proof technology very

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<v Speaker 3>heavily for our last five plus years across the Layer

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<v Speaker 3>one and a lot of the Layer twos. So we

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<v Speaker 3>have the tools in place to eat the privacy that's needed,

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<v Speaker 3>and so we're gonna help build it. We're gonna help

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<v Speaker 3>push the ball forward and create the privacy tools that

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<v Speaker 3>will allow for actual mass adoption.

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<v Speaker 1>And we're close. So, oh, for sure.

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<v Speaker 2>A dumb question, and this is a very new question.

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<v Speaker 1>No such thing.

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<v Speaker 2>There are a lot of institutions building on Etherorem. Is

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<v Speaker 2>there a cap as to how many layer twos can

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<v Speaker 2>be on Etherorem? Does that slow to network down at

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<v Speaker 2>some point let's say a million layer twos? Right? And

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<v Speaker 2>this may be true early to answer to this question,

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<v Speaker 2>but what are your thoughts around that?

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<v Speaker 3>No, I think that the layer two designs pretty brilliant

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<v Speaker 3>because layer twos themselves and customize their fees. They can

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<v Speaker 3>customize how many times they post data to Layer one

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<v Speaker 3>for security for example, everything can be toggled and customizable.

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<v Speaker 3>That being said, Ethereum is continually increasing its capacity to

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<v Speaker 3>have more and more Layer twos in anticipation of a

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<v Speaker 3>world where we have millions of layer twos. So right now,

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<v Speaker 3>if there are a million layer twos, fees would probably

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<v Speaker 3>be a lot higher on Layer one. Sure there's an

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<v Speaker 3>upgrade happening in a month, and there's more upgrades happening

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<v Speaker 3>after where the capacity to have Layer twos while also

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<v Speaker 3>maintaining security and decentralization on Ethereum is maintained perfectly. And

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<v Speaker 3>that's that's what we're excited for. So I do see

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<v Speaker 3>a world of thousands or more of Layer twos and

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<v Speaker 3>ethereymobile to handle.

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<v Speaker 2>That so exciting, Man Revec. We're going to have to

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<v Speaker 2>do an in person and go more deeper into this,

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<v Speaker 2>but thank you so much for joining.

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<v Speaker 1>Me, Thanks for having me. It was fun.

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