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Transcript

XRP Quantum Resistance🚨RippleX ⚫XRP Las Vegas · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Hey, guys, we're going to dive into something I think
• 0:02
  Speaker 1: you will like today.
• 0:03
  Speaker 2: The mat is jumping into Ripplex and what.
• 0:05
  Speaker 3: They are doing joining me today is Ioanelli.
• 0:10
  Speaker 2: Yes, ye, so excellent.
• 0:12
  Speaker 3: You are the head of engineering. You look at the
• 0:16
  Speaker 3: element of growth around the Mcurpey Ledger, and really what
• 0:20
  Speaker 3: we're dealing with right now is the quantum threat.
• 0:23
  Speaker 2: Everybody's been talking about. If.
• 0:24
  Speaker 3: You've had several guests on here on this show that
• 0:27
  Speaker 3: have talked about QDA. Tell me where you are right
• 0:30
  Speaker 3: now and what is it looking like in terms possibility?
• 0:34
  Speaker 2: Yeah.
• 0:34
  Speaker 4: I think the interesting thing is that QDA is real,
• 0:37
  Speaker 4: it's credible, and it's no longer like if but what.
• 0:41
  Speaker 4: And I think that's a massive shift from where we
• 0:44
  Speaker 4: were a couple of years ago. And I think the
• 0:48
  Speaker 4: north star for the space is that we have to
• 0:52
  Speaker 4: be ready right We have to understand what it takes
• 0:55
  Speaker 4: to prepare for this day and how to migrate not
• 0:58
  Speaker 4: just blockchain technology and infrastructure, but just financial infrastructure and
• 1:02
  Speaker 4: internet infrastructure.
• 1:03
  Speaker 2: And so it actually goes.
• 1:05
  Speaker 4: Much beyond you know, the lens in which most people
• 1:08
  Speaker 4: are looking at it from. And I think for us
• 1:11
  Speaker 4: it's really important that we you know, absorb that understanding
• 1:15
  Speaker 4: that this is real, it's coming, and there are multiple
• 1:18
  Speaker 4: angles in which things are accelerating. You know, we have
• 1:22
  Speaker 4: AI that's also been in play with Nvidia experimenting with
• 1:26
  Speaker 4: models to help with you know, error correction codes to
• 1:29
  Speaker 4: make quantum computing hardware much more reliable. Right, So that's
• 1:34
  Speaker 4: one angle of threats and then or usefulness, but also
• 1:39
  Speaker 4: threats for the realization of a quantum hardware that works
• 1:42
  Speaker 4: at scale. And then there's the algorithm which is called
• 1:45
  Speaker 4: Shore and there's another one called Grover, but sure is
• 1:48
  Speaker 4: the algorithm that you know, classically has been you know,
• 1:51
  Speaker 4: the way to break traditional public key cryptography, and it's
• 1:55
  Speaker 4: getting better. Like the recent research from Google's pointing out
• 1:59
  Speaker 4: exactly the dimensions in which Short's algorithm is getting better
• 2:03
  Speaker 4: and more efficient to be able to break you know,
• 2:06
  Speaker 4: you know, classical cryptography that we rely on today.
• 2:09
  Speaker 3: So okay, so what when you look at building a
• 2:12
  Speaker 3: team around us, because this is getting to the point
• 2:16
  Speaker 3: right now where and I've talked to several development teams
• 2:20
  Speaker 3: who said, Paul, listen, we are really starting to scale
• 2:23
  Speaker 3: because we're bringing in devs that are as advanced as
• 2:26
  Speaker 3: possible around what AI is building that essentially would be
• 2:31
  Speaker 3: the plant of threat back, so finding the right kind
• 2:34
  Speaker 3: of deaths.
• 2:35
  Speaker 4: For There's been a lot of people building in this
• 2:38
  Speaker 4: direction for quite some time, probably over the last ten years.
• 2:41
  Speaker 2: I would say the thing that's been changing is.
• 2:44
  Speaker 4: The lack of standardization by NISTS, the National Institute of
• 2:48
  Speaker 4: Science and Technology. Over the last couple of years, they've
• 2:50
  Speaker 4: been more intentional about, you know, standardizing on the quantum
• 2:55
  Speaker 4: safe signatures that would be appropriate, that would actually stand
• 2:58
  Speaker 4: a test of time. And I think that's you know,
• 3:00
  Speaker 4: that's that's the area that has sort of not you know,
• 3:04
  Speaker 4: gotten as much attention, because that's what Once something is standardized,
• 3:07
  Speaker 4: then people know what to build too. And so it's
• 3:10
  Speaker 4: not actually that there's there's there's no lack of developers,
• 3:13
  Speaker 4: you know building in the space. Is that there's no
• 3:15
  Speaker 4: there's lack of standardization and and the parameters that would
• 3:18
  Speaker 4: be secure for people to adopt it and interoperate.
• 3:21
  Speaker 3: How do they develop those standards.
• 3:23
  Speaker 4: Through the same processes that led to, you know, the
• 3:26
  Speaker 4: standards that led to the original public ec cryptography that
• 3:29
  Speaker 4: the Internet was built on, which is RSA and lift.
• 3:31
  Speaker 2: The curve of cryptography.
• 3:32
  Speaker 4: There's there are working groups that are doing research and
• 3:35
  Speaker 4: looking at the state of the art, understanding the attacks,
• 3:38
  Speaker 4: and writing proposals and you know, basically putting forth submissions
• 3:42
  Speaker 4: on you know, the branch of cryptography that is actually
• 3:45
  Speaker 4: quantum safe. I wouldn't go into the weeds of what
• 3:47
  Speaker 4: those branches of cryptography are, but there's been a lot
• 3:50
  Speaker 4: of work over.
• 3:51
  Speaker 2: The last you know, ten years to just move the
• 3:53
  Speaker 2: space forward.
• 3:54
  Speaker 4: There there are, and over the last couple of weeks
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  Speaker 4: I've heard from a number of teams that are building
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  Speaker 4: you know, quantum signatures for different use cases, that are
• 4:02
  Speaker 4: like speaking up to the to the interest in XRPL
• 4:05
  Speaker 4: to see how much they can bring their ideas to
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  Speaker 4: the Ledger to kind of support you know, our our
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  Speaker 4: roadmap of you know, migrating the ecosystem in a couple
• 4:14
  Speaker 4: of years.
• 4:15
  Speaker 3: When you think about timeline here, everybody is saying that
• 4:18
  Speaker 3: every month goes by, the acceleration is increasing for that
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  Speaker 3: vector to occur faster. We've seen almost every blockchain out there,
• 4:27
  Speaker 3: Metallic is talked about this surgey a chain Lenk obviously
• 4:31
  Speaker 3: the bitcoin community. What is your opinion do you think
• 4:34
  Speaker 3: in terms of timeline?
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  Speaker 4: So that's I mean, I think the guidance has been
• 4:37
  Speaker 4: to prepare for twenty thirty as you know, the point
• 4:40
  Speaker 4: in which we should be migrating and be quantum ready.
• 4:44
  Speaker 4: I think the recent research findings have pushed that timeline up,
• 4:47
  Speaker 4: and I think that's what's revealing about the pace of
• 4:51
  Speaker 4: which you know, these these the potential of a quantum computing,
• 4:57
  Speaker 4: you know, system that can break cryptography our classical care
• 5:00
  Speaker 4: photography can be realized, right, And so what that means
• 5:03
  Speaker 4: is that like, can't we can't necessarily wait till twenty thirty.
• 5:06
  Speaker 4: We have to be ready basically in the next couple
• 5:09
  Speaker 4: of years, so that in the event that technology outpaces the.
• 5:13
  Speaker 2: Rate at which we're able to migrate.
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  Speaker 4: Because again, it's a massive it's like an architectural transition.
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  Speaker 4: It's not like a software update in the traditional sense.
• 5:21
  Speaker 4: And so because of that like massive impact to how
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  Speaker 4: we operate infrastructure in generally, we have to kind of
• 5:28
  Speaker 4: experiment and be more proactive in just being ready and
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  Speaker 4: have the contingency plans to make it possible to keep
• 5:35
  Speaker 4: people's assets, financial assets, and our secure communication safe. In
• 5:40
  Speaker 4: light of the fact that if this hardware exists and
• 5:42
  Speaker 4: is realized to break cryptography, it will most likely be silent.
• 5:45
  Speaker 1: I will say this.
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  Speaker 3: We've talked to the Ethereum Foundation. Yeah, they've given us
• 5:49
  Speaker 3: a fairly confident feeling that YETH is going to be ready.
• 5:54
  Speaker 3: We're now talking to Replex, So can you be confident
• 5:58
  Speaker 3: that we feel like the execrafty lets I think.
• 6:01
  Speaker 4: It's it's by necessity that we have to be ready, right,
• 6:03
  Speaker 4: and so we've we've put forth a roadmap that reflects
• 6:06
  Speaker 4: that intention. And I think our call right now is
• 6:10
  Speaker 4: to the ecosystem that we support to like say, hey,
• 6:13
  Speaker 4: we are going to be doing a number of things
• 6:14
  Speaker 4: over the next year to just educate ourselves and the
• 6:17
  Speaker 4: community on what it's going to look like in this
• 6:20
  Speaker 4: post quantum era and show the breadcrumbs of like what
• 6:23
  Speaker 4: we're what we're doing to keep assets safe while we migrate,
• 6:26
  Speaker 4: versus like what it's going how it's going to impact
• 6:30
  Speaker 4: you know, the validator infrastructure, how people do key management,
• 6:34
  Speaker 4: how people interact with the network, like all of those
• 6:36
  Speaker 4: things will be impacted and people aren't absorbing that yet,
• 6:39
  Speaker 4: and so we want to just you know, con I
• 6:41
  Speaker 4: don't want to use the work condition. I just educate
• 6:43
  Speaker 4: our community so that they're prepared as we're introducing the
• 6:47
  Speaker 4: technology that makes everyone safe.
• 6:49
  Speaker 1: Let's pivot a little bit to AI for a second,
• 6:52
  Speaker 1: because I think when you look at the XRP Digital
• 6:55
  Speaker 1: immune System, right you guys, of course deep in the
• 6:59
  Speaker 1: stack you're starting utilize AI, what does that look like
• 7:03
  Speaker 1: and how fast does that moving right now?
• 7:05
  Speaker 2: Week to week basis?
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  Speaker 4: The models are getting better, right, We've heard about Mythos
• 7:08
  Speaker 4: and open AI has their own, you know, latest model
• 7:11
  Speaker 4: called cyber something I forget the reference, but essentially, like
• 7:15
  Speaker 4: the the tooling for AI as it relates to security
• 7:20
  Speaker 4: is getting you know, significantly better for blockchain protocols as well.
• 7:24
  Speaker 4: And so we've we've basically been seeing people leveraging it
• 7:27
  Speaker 4: for uh, you know, finding vulnerabilities, and so we've basically
• 7:30
  Speaker 4: taken a proactive approach to find them ourselves and and
• 7:34
  Speaker 4: fix them and and sort of release uh fixes on
• 7:37
  Speaker 4: a on a on a monthly basis to basically defend
• 7:40
  Speaker 4: against this this massive threat on the architecture of XRPL.
• 7:44
  Speaker 3: I've talked to a lot of deaths where they're running
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  Speaker 3: millions and millions of sequences into trying to test and
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  Speaker 3: break You look at x RP ledger u C plus plus,
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  Speaker 3: which is essentially the capacity to be able.
• 7:58
  Speaker 1: To scale that level, right, so that gives you an advantage.
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  Speaker 1: Do you think that with those kinds of model testing,
• 8:05
  Speaker 1: where would.
• 8:05
  Speaker 3: You say it a year twenty twenty seven, here we
• 8:09
  Speaker 3: are an XRP Las Vegas.
• 8:11
  Speaker 1: Do you think we're going to be a lot further
• 8:13
  Speaker 1: along er?
• 8:14
  Speaker 2: Do you feel like challenges are going to be No,
• 8:16
  Speaker 2: we have to.
• 8:17
  Speaker 4: So this year is all about like addressing the foundation, right,
• 8:20
  Speaker 4: and we're seeing it with other like ecosystems. I think
• 8:23
  Speaker 4: people are seeing like twenty three year old bugs and
• 8:26
  Speaker 4: Linux you know kernels, right, So this is the moment
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  Speaker 4: in time to really use these tools in the superpower
• 8:32
  Speaker 4: to find all of the cracks in the XRFL foundation
• 8:35
  Speaker 4: and start to evolve the architecture in a way that
• 8:39
  Speaker 4: keeps things robust. You know, for the institutions that we're serving, right,
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  Speaker 4: they have an expectation of reliability and security and deterministic
• 8:47
  Speaker 4: settlement and the ability to execute financial transactions on a
• 8:52
  Speaker 4: bloxing that's purpose built for financial use cases. And so
• 8:55
  Speaker 4: that mandate requires that we are intentional in leveraging you
• 8:59
  Speaker 4: know thislogy to shine light on where we can make
• 9:02
  Speaker 4: the architectural bust.
• 9:03
  Speaker 3: I love the fact that you're talking that kind of
• 9:05
  Speaker 3: language to me. This is the situation that I think
• 9:09
  Speaker 3: we're dealing with across all of crypto right now, which
• 9:12
  Speaker 3: starts to really address the issue.
• 9:16
  Speaker 1: Around institutional capital. They're starting to move into this space
• 9:18
  Speaker 1: in a big way.
• 9:19
  Speaker 3: You look at institutional DeFi now we're talking about really
• 9:23
  Speaker 3: where r l U s D is starting to talk
• 9:27
  Speaker 3: to me a little bit about what you guys are.
• 9:28
  Speaker 2: Doing in that space, because this is kind of the.
• 9:30
  Speaker 3: Next hammer that would give you confidence wants to solve
• 9:34
  Speaker 3: institutional DeFi is right there.
• 9:36
  Speaker 2: Right, No, absolutely absolutely so.
• 9:38
  Speaker 4: Their number of features that we are building to support,
• 9:42
  Speaker 4: you know, the institutional DeFi roadmap, and they kind of
• 9:47
  Speaker 4: speak to this notion of enabling this full life cycle
• 9:51
  Speaker 4: of capital that institutions are familiar with, right like issuing tokens,
• 9:56
  Speaker 4: you know, trading collateral and repote based actions and credit
• 10:02
  Speaker 4: and yield like these are all the things that institutions
• 10:05
  Speaker 4: want to do on on on Ledger. And so we
• 10:08
  Speaker 4: are building the essential building blocks to empower that you
• 10:12
  Speaker 4: know around r l U s D, which can be
• 10:14
  Speaker 4: used in form of as a form.
• 10:15
  Speaker 2: Of collateral GIF use for trading.
• 10:17
  Speaker 4: You know, there's a lot of use cases around r
• 10:19
  Speaker 4: l U s D that the primitives that we are
• 10:21
  Speaker 4: introducing to XRPL over time are are enabling around institutional DeFi.
• 10:26
  Speaker 1: Now, will decentralized identity play a role of this.
• 10:29
  Speaker 4: Well, So for the essential identity, I think there's a
• 10:33
  Speaker 4: there's two angles to that. I think there's the angle
• 10:36
  Speaker 4: of you know, allowing people to build systems of which
• 10:39
  Speaker 4: you can do compliance on chain right and and sort
• 10:42
  Speaker 4: of the the toolkits to allow institution to do you know, uh,
• 10:46
  Speaker 4: regulated trading, you know with proxims that are known. So
• 10:50
  Speaker 4: the components for x N XRPL to enable that is
• 10:53
  Speaker 4: part of what you know, intentional identity kind of uh
• 10:55
  Speaker 4: you know, speaks to There are obviously other use cases,
• 10:58
  Speaker 4: but it's really the compliance piece that you know, we've
• 11:01
  Speaker 4: we've been honing on to just make it easy for
• 11:03
  Speaker 4: institutions to do the things that they again they do
• 11:06
  Speaker 4: off chain, but they need the right primitives on chain
• 11:09
  Speaker 4: to kind of operate in the way they're already familiar.
• 11:11
  Speaker 4: And that's where like you know, our compliance you know
• 11:14
  Speaker 4: toolkit that's being built on Ledger really comes in.
• 11:17
  Speaker 3: The ear well and I think that also leads into
• 11:20
  Speaker 3: confidentiality the need for that Z obviously that's playing into
• 11:24
  Speaker 3: really the future for this to make How do you
• 11:27
  Speaker 3: feel about that stack portion around XRPL.
• 11:31
  Speaker 4: Yeah, so that's one of the interesting features that I'm
• 11:34
  Speaker 4: really excited about that's coming to XRPL because it's a
• 11:38
  Speaker 4: way of allowing institutions to hide their competitive vantage, right
• 11:42
  Speaker 4: and to hide the flows between how they how they
• 11:45
  Speaker 4: trade you know, collateral and how.
• 11:47
  Speaker 2: They borrow against it and what they do with it.
• 11:49
  Speaker 4: So confidential r l USD is kind of one of
• 11:51
  Speaker 4: our concrete use cases around confidential transfers, but it's really
• 11:56
  Speaker 4: a protocol that is encrypting transactions or transaction and amounts
• 12:00
  Speaker 4: in token balances in a way that again provides that
• 12:04
  Speaker 4: competitive advantage for institutions that want to bring what they
• 12:07
  Speaker 4: do off chain and like silo databases on chain and
• 12:10
  Speaker 4: still get the same you know, privacy that they enjoy
• 12:13
  Speaker 4: today hop bringing off chain, but they gained the efficiency
• 12:16
  Speaker 4: of moving at Internet scale with a ledger, right because
• 12:20
  Speaker 4: we have determined excelement three to five seconds, you know.
• 12:23
  Speaker 2: So that's the advantage, Like you get the.
• 12:25
  Speaker 4: Speed, but you get shared infrastructure for you know security,
• 12:29
  Speaker 4: which is how we position privacy for in terms of
• 12:33
  Speaker 4: the confidential transfer photocole.
• 12:34
  Speaker 3: Yeah, all right, io, let's question here. Let's go to
• 12:37
  Speaker 3: multipurpose tokens. This is pretty much a game changer for RWA's.
• 12:40
  Speaker 3: Talk to me a little bit about that. Yes, this
• 12:42
  Speaker 3: is a new technology. I think that's really advancing.
• 12:44
  Speaker 4: Yeah, No, I'm excited about the multipurpose token standard. It's
• 12:49
  Speaker 4: actually evolution of issue currencies on XRFBO, which are called
• 12:54
  Speaker 4: IOUs yeatily. I think the great thing about the standard
• 12:57
  Speaker 4: is that it's like bringing two things together like fungible
• 13:00
  Speaker 4: and non fungible type of assets, and so you can
• 13:03
  Speaker 4: use this represent stable coins, you can use it to
• 13:04
  Speaker 4: represent RWA's.
• 13:06
  Speaker 2: You can do both, right, is really what.
• 13:08
  Speaker 4: We were trying to accomplish, and it you know, takes
• 13:10
  Speaker 4: less stress on the ledger.
• 13:12
  Speaker 2: Yeah.
• 13:13
  Speaker 4: So those are technical, big didvantages, right, But the the
• 13:17
  Speaker 4: things that I really like grabs her they are more
• 13:20
  Speaker 4: like the properties of what it does. It's like it
• 13:22
  Speaker 4: makes it easier for institions of launch tokens and and
• 13:25
  Speaker 4: tokenize you know, real world assets in a way that's
• 13:28
  Speaker 4: simpler than other ecosystems where you typically require smart contracts, right,
• 13:31
  Speaker 4: you only required API. It's very simplistic how we've designed
• 13:35
  Speaker 4: it to make it easier for institutions to not be
• 13:38
  Speaker 4: blockchain experts, right in order to tokenize their assets. Right,
• 13:41
  Speaker 4: So the infrastructure that they have to build off chain
• 13:44
  Speaker 4: is much lighter around mpts than you know, in other
• 13:47
  Speaker 4: the other solutions exact the real untastic you know.
• 13:50
  Speaker 3: That is a good unlock I think going forward, listen,
• 13:53
  Speaker 3: I'm really excited about where this is heading. I'd love
• 13:56
  Speaker 3: to see the fact that devs are still coming in
• 13:58
  Speaker 3: very powerfully, so thanks you.
• 13:59
  Speaker 4: So we have a lot of work to do to
• 14:01
  Speaker 4: kind of educate and kind of expand the developer ecosystem.
• 14:03
  Speaker 2: I think people are.
• 14:04
  Speaker 3: Learning though they're understanding it, especially when you look at
• 14:07
  Speaker 3: people who are invested in XRP. They look at the ledger,
• 14:11
  Speaker 3: they want to make sure it's bulletproof. To hear these
• 14:13
  Speaker 3: kind of things, I think is.
• 14:14
  Speaker 2: Really important for the community.
• 14:16
  Speaker 3: So absolutely, I oh, thanks for coming in today.
• 14:17
  Speaker 2: Thanks so much. You bet we appreciate it, are you guys?
• 14:20
  Speaker 2: You know what to do?
• 14:20
  Speaker 3: Make sure and drop some comments down below. We'd love
• 14:23
  Speaker 3: to get your feedback on where you guys think this
• 14:26
  Speaker 3: technology is going, especially when it comes to quantum proofing blockchain.
• 14:30
  Speaker 3: We'll catch you guys later.
• 14:32
  Speaker 2: Take care.
• 14:39
  Speaker 3: If you like this video, like and subscribe, drop a
• 14:41
  Speaker 3: comment down below, and also join our free private member group.
• 14:45
  Speaker 2: The link is in the description.