Latest / The Paul Barron Crypto Show / Canton Chain Better Than XRP, Solana, & Ethereum?🔥Yuval Rooz INTERVIEW

Transcript

Canton Chain Better Than XRP, Solana, & Ethereum?🔥Yuval Rooz INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's dive into it.
• 0:00
  Speaker 2: Today we're going to be doing a breakdown of Canton
• 0:02
  Speaker 2: network and understanding a little bit more about what they
• 0:05
  Speaker 2: are doing. It's going to be a good one, so
• 0:07
  Speaker 2: stick around for that. I do want to thank our
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• 0:34
  Speaker 2: All right, Let's go into a couple of things I
• 0:36
  Speaker 2: want to lead off with before we bring on our guest.
• 0:39
  Speaker 2: And if you look at them, they're at the top
• 0:40
  Speaker 2: of the leader board right here on the league table.
• 0:42
  Speaker 2: You can kind of see that total value three and
• 0:44
  Speaker 2: fifty bill and if you look at the represented versus
• 0:47
  Speaker 2: distributed D five versus, you know, we'll see some interesting
• 0:52
  Speaker 2: things that we want to break down with the CEO
• 0:56
  Speaker 2: and founder of Canton.
• 0:57
  Speaker 1: Now, the Bankless guys did a.
• 1:00
  Speaker 2: An interview with them already, and I wanted to play
• 1:02
  Speaker 2: a couple of clips to kind of set the stage.
• 1:04
  Speaker 3: Take a look, you know, Canton, it shows represented an
• 1:07
  Speaker 3: asset value of three hundred and eighty billion, Like three
• 1:10
  Speaker 3: hundred and eighty billion, Its bigger than all of the
• 1:12
  Speaker 3: stable coins on public crypto network.
• 1:14
  Speaker 4: It is not rational to think that a CEO of
• 1:18
  Speaker 4: a thirty billion dollar company would gamify numbers to get
• 1:24
  Speaker 4: some attention on a website for what benefit?
• 1:29
  Speaker 1: Like for what?
• 1:30
  Speaker 2: All right, So when you look at DeFi Lama, and
• 1:32
  Speaker 2: we'll just kind of take a look here. I'm just
• 1:34
  Speaker 2: going to pull up Canton real quick, and as you
• 1:38
  Speaker 2: can see, Canton not showing up there. So I think
• 1:40
  Speaker 2: the point that Ryan was trying to make there when
• 1:43
  Speaker 2: you look at where Canton is and the valuation is
• 1:48
  Speaker 2: the question mark. I don't think it was a bad question,
• 1:50
  Speaker 2: but I think you know the answer.
• 1:52
  Speaker 1: You look at it.
• 1:52
  Speaker 2: You look at the history of all things financial. The
• 1:55
  Speaker 2: number one reason people do these things is money. You know,
• 1:58
  Speaker 2: that's the number one reason. So hopefully we'll be able
• 2:01
  Speaker 2: to drill down into that, clear the air with them
• 2:04
  Speaker 2: and kind of get into it. If you take a
• 2:05
  Speaker 2: look at the top leader board here on coin market Cap,
• 2:08
  Speaker 2: I'm just going to go down here to Canton and
• 2:10
  Speaker 2: if you look at where they are, let me kind
• 2:12
  Speaker 2: of see if I can zoom in on that a little
• 2:13
  Speaker 2: bit for you guys, you'll notice right there, I'm kind
• 2:15
  Speaker 2: of scrolling across right there's the volume which is twell
• 2:18
  Speaker 2: mil in comparison to some of the other top chains
• 2:22
  Speaker 2: that are in here.
• 2:22
  Speaker 1: If you look at the top thirty, that is a
• 2:24
  Speaker 1: big deal.
• 2:25
  Speaker 2: I think these are questions that everybody has to answer.
• 2:28
  Speaker 2: Charles Hoskinson came on talking about I love it when
• 2:31
  Speaker 2: Legacy Finance comes together with Canton and try to build
• 2:34
  Speaker 2: what XRP and Midnight are already doing at scale.
• 2:38
  Speaker 1: They never learn blah blah blah.
• 2:40
  Speaker 2: And then of course you go after what the next
• 2:44
  Speaker 2: component was, which was a clip here talking about how
• 2:49
  Speaker 2: Canton maybe compares to next generation technology.
• 2:53
  Speaker 1: Take a look.
• 2:54
  Speaker 4: But now you're coming into our world.
• 2:56
  Speaker 3: You're doing the blocker re sponsorships, you're on the coin
• 3:00
  Speaker 3: echo page marketing it to our industry, which we value
• 3:04
  Speaker 3: the cipherpunk maximalism of bitcoin and ethereum.
• 3:07
  Speaker 5: Yeah, so first of all, I would say that I
• 3:10
  Speaker 5: had to bet that if I had to put a
• 3:13
  Speaker 5: poly market bet on do you listen to music on
• 3:15
  Speaker 5: Napster or Spotify, I'm pretty sure that I can make
• 3:19
  Speaker 5: the right bet of where you listen to music?
• 3:21
  Speaker 4: Hey, how you doing hell here?
• 3:23
  Speaker 2: It's my understanding that I had over eighty million streams
• 3:28
  Speaker 2: on Spotify this year, So if I'm doing the math right,
• 3:31
  Speaker 2: that means I.
• 3:31
  Speaker 1: Earned twelve dollars.
• 3:34
  Speaker 2: So, from the bottom of my heart, thanks for your
• 3:36
  Speaker 2: support and thanks for the sandwich.
• 3:38
  Speaker 6: They just sent me some shit from Spotify. Well I
• 3:41
  Speaker 6: got a billion streams right, That shit wasn't even forty
• 3:44
  Speaker 6: five thousand dollars.
• 3:44
  Speaker 1: That's crazy, crazy, That is fucking crazy.
• 3:47
  Speaker 6: Let me tell you the thing that worked with me.
• 3:49
  Speaker 6: It was simple. It was transparency, all.
• 3:52
  Speaker 2: Right, you know, snoops, got it right. Transparency. That's one
• 3:54
  Speaker 2: of the biggest things. And when you look at where spotify,
• 3:57
  Speaker 2: this is a good example of it because tech that
• 3:59
  Speaker 2: really kind of started what was going on in the
• 4:01
  Speaker 2: world of Napster and the MP three's. I mean, that
• 4:04
  Speaker 2: was the precedence of where technology was going in terms
• 4:07
  Speaker 2: of music streaming. You look at Spotify, it's a different
• 4:10
  Speaker 2: world now. There is no transparency, and that I think
• 4:13
  Speaker 2: is the concern that I think a lot of people have.
• 4:15
  Speaker 1: So I and again, this is.
• 4:17
  Speaker 2: Something that people were kind of prouding me on Twitter
• 4:20
  Speaker 2: to talk about Canton. So I put out a quote
• 4:23
  Speaker 2: and a tweet and it was you know, a few
• 4:26
  Speaker 2: people talked about it, but you've all came on rightly
• 4:29
  Speaker 2: so and said my post could not be more wrong.
• 4:32
  Speaker 2: I'm far from what I claimed it is. And also
• 4:35
  Speaker 2: I should try again. So we said, let's try again,
• 4:38
  Speaker 2: and we're going to bring you've all on to talk
• 4:40
  Speaker 2: a little bit more about this. So you've all Russ
• 4:42
  Speaker 2: coming in today.
• 4:43
  Speaker 1: How are you?
• 4:44
  Speaker 4: I'm good?
• 4:44
  Speaker 1: How are you excellent?
• 4:46
  Speaker 2: Excellent? So we have a lot of questions. I want
• 4:48
  Speaker 2: to get into a handful that kind of goes into it.
• 4:51
  Speaker 2: First of all, when I go to defai Lama, why
• 4:53
  Speaker 2: would it not be on there?
• 4:55
  Speaker 1: What would it be the reason?
• 4:56
  Speaker 4: Um, I don't know, to be honest, I don't I
• 4:59
  Speaker 4: don't have an answer. You know, even in the x
• 5:04
  Speaker 4: y Z example, I saw your interesting intro. This whole
• 5:09
  Speaker 4: represented versus distributed listen. I think that this industry, as
• 5:15
  Speaker 4: every industry, has, you know, people that have ideas of
• 5:20
  Speaker 4: what it should represent. We've seen the whole discussion about
• 5:25
  Speaker 4: the Ethereum Foundation in the last few days. We have
• 5:29
  Speaker 4: different approaches Tempo launching saying that it's permissionless, and now
• 5:34
  Speaker 4: people are showing that you need to be permissioned to
• 5:37
  Speaker 4: be a validator. Everybody has their own agenda and at
• 5:41
  Speaker 4: the end of the day, we are trying to solve
• 5:42
  Speaker 4: a very specific problem and you know that's what we're doing.
• 5:45
  Speaker 4: We're not going to apologize for you know, the work
• 5:50
  Speaker 4: that we do and the partners that we work with.
• 5:52
  Speaker 4: And at the end of the day, I believe that
• 5:54
  Speaker 4: DeFi Lama eventually will show the assets that are on
• 5:58
  Speaker 4: Canton inductivity that is happening there.
• 6:00
  Speaker 1: Because that's a situation.
• 6:01
  Speaker 2: I think with Difai Lama that you guys could probably
• 6:03
  Speaker 2: work out, you know, and get it narrowed down. How
• 6:06
  Speaker 2: is Canton different from the many other institutional chains that
• 6:09
  Speaker 2: are out there. What would you say, you know, to
• 6:11
  Speaker 2: really make it easy for our audience to understand what
• 6:14
  Speaker 2: really makes them different, you different than the other chains
• 6:17
  Speaker 2: that are popping up right.
• 6:18
  Speaker 4: Now why, First of all, I would start with, why
• 6:21
  Speaker 4: do you call Canton an institutional chain?
• 6:23
  Speaker 2: Well, I think that's well, we can talk about that.
• 6:25
  Speaker 2: That's what we think it is.
• 6:27
  Speaker 4: Oh, I mean I understand that it's a good thing
• 6:31
  Speaker 4: to call it. I mean when you look at every
• 6:34
  Speaker 4: l one in the last three years, what have been
• 6:38
  Speaker 4: their biggest announcement. Oh, I issued a money market fund
• 6:41
  Speaker 4: with this big institution. Oh, I've done this integration with
• 6:44
  Speaker 4: this big institution. I mean, that's what all of these
• 6:47
  Speaker 4: l ones have celebrated. So I don't understand where you
• 6:52
  Speaker 4: call a chain an institutional chain. It was actually started
• 6:56
  Speaker 4: by a startup. We created the technology. There are forty
• 7:01
  Speaker 4: plus supervalidators, not all of them are institutions, or to
• 7:05
  Speaker 4: be honest, I don't even know how you define an institution.
• 7:08
  Speaker 4: I think what we're trying to say by institution, it's
• 7:11
  Speaker 4: the old guard of Wall Street. Well, actually, if you
• 7:15
  Speaker 4: go and look at the list of supervalidators, most of
• 7:18
  Speaker 4: them are not. So I just again trying to understand
• 7:22
  Speaker 4: what is what makes a chain an institutional chain.
• 7:27
  Speaker 2: I would say the network in terms of being able
• 7:31
  Speaker 2: to have djens, we'll call it that. I mean, that's
• 7:34
  Speaker 2: part of this market anyway, if you look at just
• 7:36
  Speaker 2: a meme coin meme coins right now, I mean, we
• 7:39
  Speaker 2: have a meme coin now listed as a commodity, so
• 7:42
  Speaker 2: it's clear that there is a track for that. But
• 7:44
  Speaker 2: what is the top meme point on Canton?
• 7:48
  Speaker 4: We don't have a meme coin on Canton. What is
• 7:51
  Speaker 4: that top meme coin on XRP.
• 7:54
  Speaker 1: There's hundreds on XRPL mean cooin?
• 7:57
  Speaker 4: What is come on? Well, I mean, what is the mean.
• 8:01
  Speaker 1: I'm not going to mention a meme I'm not going
• 8:03
  Speaker 1: to ma a coin.
• 8:04
  Speaker 4: I think our drink was made. What is the top
• 8:07
  Speaker 4: point an avalanche? What is the top mean coin? I mean,
• 8:10
  Speaker 4: we can keep one.
• 8:11
  Speaker 1: I think the ones that I like. You're asking me
• 8:14
  Speaker 1: to just list meme coins, all right.
• 8:16
  Speaker 4: So I'm saying what is the top because you ask
• 8:19
  Speaker 4: what is the top? And I guess my point is
• 8:21
  Speaker 4: there is no meme coin on Canton because maybe we
• 8:25
  Speaker 4: as a community didn't necessarily prioritize having a meme coin.
• 8:29
  Speaker 4: But if not having a meme coin makes us an
• 8:31
  Speaker 4: institutional chain or a corp chain, then I'm accepting it.
• 8:35
  Speaker 4: That's okay, okay, all right. By the way, I don't
• 8:37
  Speaker 4: have a problem with the definition. I just am trying
• 8:40
  Speaker 4: to understand what does the question and so.
• 8:42
  Speaker 1: I think a lot.
• 8:43
  Speaker 2: Yeah, I think the market looks at an institutional chain
• 8:46
  Speaker 2: differently than an open chain. An open chain is going
• 8:50
  Speaker 2: to have networks that have these kind of things available
• 8:53
  Speaker 2: all the time, you know, whether you look at XRP
• 8:55
  Speaker 2: or you look at what's happening on Solana Avalanche, any
• 8:58
  Speaker 2: of those, all of of which have kind of proven
• 9:01
  Speaker 2: themselves to be open networks or at least have the
• 9:04
  Speaker 2: ability to go in that direction.
• 9:05
  Speaker 1: So I think that's the point.
• 9:06
  Speaker 4: I just want to clarify. I want to clarify if
• 9:09
  Speaker 4: if it was possible to launch a meme coin on
• 9:13
  Speaker 4: Canton in a permissionless manner, then we would lose the
• 9:17
  Speaker 4: definition of an institutional change because again I think that
• 9:21
  Speaker 4: you know, we have we have dexas, we have prediction markets,
• 9:25
  Speaker 4: we have other things that you would maybe associate more
• 9:28
  Speaker 4: with the I guess dgen economy. Uh, we just don't
• 9:31
  Speaker 4: have a meme coin. So I again, I'm just trying
• 9:34
  Speaker 4: to understand where is the definition.
• 9:36
  Speaker 1: So you're saying it's possible to launch a meme coin
• 9:38
  Speaker 1: now on Canton.
• 9:39
  Speaker 4: Network one hundred percent.
• 9:42
  Speaker 1: Why haven't you done it?
• 9:45
  Speaker 4: Because we have other priorities. Again, it's maybe maybe we should,
• 9:50
  Speaker 4: you know, maybe maybe you know listen listening questions.
• 9:54
  Speaker 1: I think, yeah, listening to you.
• 9:55
  Speaker 4: Maybe maybe you're giving the ideas maybe we should and
• 9:58
  Speaker 4: maybe you know, you give any ideas, So maybe stay tuned.
• 10:02
  Speaker 2: All right, Well, okay, a meme coin coming to Canton,
• 10:05
  Speaker 2: that would be I think the guys from banklets would
• 10:07
  Speaker 2: probably be all over that for sure. Now that we
• 10:09
  Speaker 2: know that these things are commodities, the likelihood is we're
• 10:12
  Speaker 2: going to see an absolute explosion of it. So I
• 10:14
  Speaker 2: think the market itself is going to speak and they're
• 10:16
  Speaker 2: going to want it to happen for sure. If you
• 10:19
  Speaker 2: look at Avalanche, we'll go to Avalanche specifically for a
• 10:23
  Speaker 2: couple of reasons, but if you look at Avalanche in general,
• 10:26
  Speaker 2: how would you guys say, well, Canton is a better
• 10:29
  Speaker 2: solution for something than say Avalanche.
• 10:34
  Speaker 4: Privacy one. I think that Avalanche will market itself with
• 10:42
  Speaker 4: its sub networks. I think in their documentation you could
• 10:45
  Speaker 4: read that the way to move from one sub network
• 10:48
  Speaker 4: to another is using bridges, which in our opinion, is
• 10:51
  Speaker 4: not safe in Canton. All transactions between any Canton to
• 10:56
  Speaker 4: any Canton is fully composable as if you were on
• 10:59
  Speaker 4: the same network. I would say at a high level
• 11:01
  Speaker 4: of those would be the two big differences.
• 11:03
  Speaker 2: Well, I mean, their private network is pretty solid. I
• 11:05
  Speaker 2: think a lot of people are choosing Avalanche because of that.
• 11:08
  Speaker 2: The capability of being able to launch their own network.
• 11:11
  Speaker 4: Private network does not imply privacy. So if you launch
• 11:14
  Speaker 4: a private ethereum chain, you just have a small subnet
• 11:17
  Speaker 4: of participants that still have no privacy amongst themselves.
• 11:22
  Speaker 2: So and you okay, so and that has been I
• 11:24
  Speaker 2: think that privacy is is a challenge. I think a
• 11:27
  Speaker 2: lot of people look at every chain out there in
• 11:29
  Speaker 2: terms of privacy. You're saying that Canton is a fully privacy,
• 11:34
  Speaker 2: a full privacy chain right now.
• 11:36
  Speaker 4: No, that's not what I'm saying. I'm saying it's the
• 11:38
  Speaker 4: only public chain that have privacy capabilities. We don't believe
• 11:43
  Speaker 4: in a binary world either everything is privacy or everything
• 11:46
  Speaker 4: is public. You could have things that are public on Canton,
• 11:49
  Speaker 4: and you could have things that are private on Canton.
• 11:51
  Speaker 4: So it's the only chain that has privacy capabilities. It
• 11:55
  Speaker 4: is not all privacy chain.
• 11:58
  Speaker 2: Yeah, all right, So let's look at the validators and
• 12:01
  Speaker 2: I'm trying to understand it. But my question, when you
• 12:03
  Speaker 2: have a validator in here, whether it's a super validator
• 12:06
  Speaker 2: or not, can they look in on transactions?
• 12:10
  Speaker 4: Again, it really depends how the smart contract have defined
• 12:14
  Speaker 4: who's allowed to see what so on Canton, It's not
• 12:17
  Speaker 4: that everything is private or not. By definition, the smart
• 12:23
  Speaker 4: contract designates what information is public for people to see
• 12:28
  Speaker 4: and what is private.
• 12:30
  Speaker 2: So who would be allowed to become a super validator Anyway,
• 12:35
  Speaker 2: there's thirteen stand alone. Right now you're saying that these
• 12:39
  Speaker 2: are not institutional clients that are doing this.
• 12:43
  Speaker 4: I mean, angel Hack from Asia, to the best of
• 12:47
  Speaker 4: my knowledge, are not one of the biggest players in
• 12:51
  Speaker 4: Wall Street. They are a company that does hackathons and
• 12:57
  Speaker 4: developer education. So I mean that's just example maybe to
• 13:01
  Speaker 4: call out there's.
• 13:02
  Speaker 1: That's the other thirteen.
• 13:04
  Speaker 4: Thirteen are thirteen people that operate supervalidators. There's some that
• 13:10
  Speaker 4: co run multiple supervalidators on the same note, and there
• 13:14
  Speaker 4: are over forty of them.
• 13:15
  Speaker 1: Why would they not be listed here?
• 13:17
  Speaker 4: Then some of these supervalidators co run the other supervalidators.
• 13:21
  Speaker 4: So what you're seeing is are the thirteen operators of
• 13:24
  Speaker 4: supervalidators proof group is not a bank if I even
• 13:28
  Speaker 4: look at your list, MPH is not a bank.
• 13:31
  Speaker 1: Digital asset one and two is that are those you guys?
• 13:35
  Speaker 4: Yes?
• 13:35
  Speaker 1: Iron, so you have eleven.
• 13:40
  Speaker 4: So at eleven again, you're you're going to keep on
• 13:42
  Speaker 4: saying that, then I'm going to correcting that.
• 13:46
  Speaker 1: Let's call we're We're not trying to hijack you here.
• 13:49
  Speaker 1: This is out there. This is general research.
• 13:51
  Speaker 4: So do you do you want to go to the
• 13:53
  Speaker 4: Canton Foundation where they list all of the supervalidators?
• 13:57
  Speaker 1: Happy to what? What is the website Cantons Network?
• 14:00
  Speaker 2: So okay, so I'm looking to become a super validator.
• 14:05
  Speaker 2: What is the process that PBN would need to take.
• 14:07
  Speaker 2: Here's where I can get in and start accessing the program.
• 14:12
  Speaker 2: So here's the forty that you're talking about.
• 14:14
  Speaker 1: Is that right?
• 14:15
  Speaker 4: Forty the validators?
• 14:17
  Speaker 1: Yeah? All right, So these are the forty validators.
• 14:20
  Speaker 2: Some of them are running multiple nodes within one validator
• 14:25
  Speaker 2: even though it's registered as a single validator. But what's
• 14:27
  Speaker 2: the process that I would take to get on as
• 14:30
  Speaker 2: a validator?
• 14:30
  Speaker 1: Right now?
• 14:31
  Speaker 2: If PBN, if Baron Capital says we want to come
• 14:34
  Speaker 2: in and do one, how would we do that?
• 14:39
  Speaker 4: So every network decides what is the threshold to be
• 14:45
  Speaker 4: a full node? Right, okay, and ethereum. I think it
• 14:51
  Speaker 4: requires thirty two eat on X ORPI. I don't even
• 14:56
  Speaker 4: know what it requires to be on. I'm not saying
• 14:59
  Speaker 4: that there is no I just don't know what it
• 15:01
  Speaker 4: is on. Solana and Suey and others can, though, I'm
• 15:06
  Speaker 4: trying to explain to you. So those networks have selected
• 15:12
  Speaker 4: to have money as a way to become a full note.
• 15:15
  Speaker 4: On Canton, we decided that contribution to the network is
• 15:20
  Speaker 4: a better mechanism to decide if you should become a
• 15:24
  Speaker 4: full note.
• 15:25
  Speaker 1: So Paul contribution, what does that mean?
• 15:31
  Speaker 4: I'm getting there. I promise Paul will write a SIP,
• 15:36
  Speaker 4: which is a Canton improvement proposal where he will say, look,
• 15:40
  Speaker 4: I'm Paul Baron. I run the best show in crypto.
• 15:44
  Speaker 4: I have a dedicated list of people that listen. I
• 15:48
  Speaker 4: think I can add a lot of value to the
• 15:50
  Speaker 4: network by grilling uvall, for example. And I think that
• 15:54
  Speaker 4: if I am going to do a series of education,
• 15:59
  Speaker 4: I'm going to do continuous research that adds tremendous value
• 16:03
  Speaker 4: to the network, and therefore I should become one of
• 16:07
  Speaker 4: the validators on the network, and if the network, which
• 16:10
  Speaker 4: are forty plus supervalidators, two thirds of them will vote
• 16:14
  Speaker 4: in favor, a decentralized process will vote you in favor.
• 16:19
  Speaker 4: You're a supervalidator just like that. You wouldn't have to
• 16:22
  Speaker 4: stake thirty forty million dollars to do that.
• 16:24
  Speaker 2: Yeah, well, I think, Well, the thing I think when
• 16:27
  Speaker 2: you look at this, seems like a good old boys club,
• 16:32
  Speaker 2: you know, which is kind of Wall Street. Yeah, I mean,
• 16:34
  Speaker 2: that's Wall Street right now. If you want to get
• 16:37
  Speaker 2: in on hedge funds, you've got to kind of get
• 16:39
  Speaker 2: accepted into those hedge funds the same.
• 16:41
  Speaker 4: I think that all happens if you're mistaking. I think
• 16:44
  Speaker 4: you're mistaking something because I think that you get in
• 16:47
  Speaker 4: a hedge fund, you need to have a lot of
• 16:49
  Speaker 4: money money, which is kind of equivalent to become a
• 16:52
  Speaker 4: full node on some of these chains. You need to
• 16:54
  Speaker 4: have a lot of money to become a full node.
• 16:57
  Speaker 4: So I think you're mistaking because, like I said, most
• 17:01
  Speaker 4: of the people that are super validators on Canton are
• 17:04
  Speaker 4: not some of those old guard that you keep on saying.
• 17:09
  Speaker 4: So I'm just saying, like I think that maybe you
• 17:12
  Speaker 4: are mistaken and you're getting you're getting the order incorrectly
• 17:16
  Speaker 4: that actually some of these crypto networks that keep on
• 17:19
  Speaker 4: talking about decentralization have put quantums of money that are
• 17:24
  Speaker 4: not available to the average person to participate as a validator,
• 17:27
  Speaker 4: where I'm.
• 17:28
  Speaker 2: Can no, but come on, I would not accept you
• 17:31
  Speaker 2: would not accept the average person.
• 17:33
  Speaker 4: And I just gave you angel Hack, which is a
• 17:36
  Speaker 4: great startup out of Asia that has been building hackathon
• 17:40
  Speaker 4: and trying to bring education to the system.
• 17:43
  Speaker 2: That's not an average re not an average company. Anybody
• 17:47
  Speaker 2: not angel Hack. You know, the guy next door who
• 17:49
  Speaker 2: has thirty two eighth can get a validator. Okay, I
• 17:51
  Speaker 2: don't have to be angel Hack, or I don't have
• 17:53
  Speaker 2: to be be PBN.
• 17:54
  Speaker 4: You know, not an average The guy next door does
• 17:58
  Speaker 4: not an average have thirty two eighth first of all,
• 18:01
  Speaker 4: and second.
• 18:02
  Speaker 1: I have a lot of audience members that hold thirty
• 18:04
  Speaker 1: two eighth. For sure, I'm not for sure.
• 18:07
  Speaker 4: I didn't say I didn't say like you you want
• 18:09
  Speaker 4: to corner me into a yes or no black and white.
• 18:13
  Speaker 4: And the reality is that Send is a wallet out
• 18:17
  Speaker 4: of the West Coast that was an early adopter and
• 18:21
  Speaker 4: became a supervalidator. You know what give me one bank
• 18:25
  Speaker 4: again from Wall Street, that is a super validator.
• 18:28
  Speaker 1: Please do one bank the problem banks? Yeah, that My
• 18:32
  Speaker 1: point is is one.
• 18:33
  Speaker 7: Bank is a super validator on the case, there's probably
• 18:37
  Speaker 7: I don't know there is none because they are not
• 18:40
  Speaker 7: going to do it until they have a clarity we
• 18:43
  Speaker 7: can take.
• 18:45
  Speaker 4: But let's let's park that aside. But you keep on
• 18:48
  Speaker 4: trying to put this that this is a Wall Street Corp. Chain,
• 18:51
  Speaker 4: And I'm asking you what is the ratio of Wall
• 18:54
  Speaker 4: Street Corp Chains that are running a supervalidator in Canton?
• 18:57
  Speaker 2: Because you did I don't think a Wall Street Corp chain,
• 19:01
  Speaker 2: Because remember we're talking about very specific companies that, of
• 19:05
  Speaker 2: course line up in these forty validators.
• 19:07
  Speaker 4: Can you tell me? Can you tell me where they are?
• 19:09
  Speaker 4: Can you tell me who are the validators on all
• 19:11
  Speaker 4: of those great other l ones that you're saying are
• 19:14
  Speaker 4: accessible for everyone?
• 19:15
  Speaker 1: Well, actually you can if you go in. The chrain
• 19:18
  Speaker 1: is transparent enough to where we can pull.
• 19:20
  Speaker 4: Up pretty sure that you're going to see that these
• 19:21
  Speaker 4: are actually a lot of very large financial institutions.
• 19:25
  Speaker 2: There would definitely be some in there, for sure, But
• 19:28
  Speaker 2: that does not make a decentralized chain a Wall Street
• 19:31
  Speaker 2: corp chain.
• 19:32
  Speaker 4: Correct, And all I said is that Kanton, I would say,
• 19:34
  Speaker 4: is actually much more fairly distributed across both large scale
• 19:39
  Speaker 4: institutions and some that are not.
• 19:41
  Speaker 1: All right, Okay, well you have your position. I have mine.
• 19:44
  Speaker 2: I think it feels different. My position is it looks
• 19:49
  Speaker 2: very centralized. It looks like a Wall Street corp chain.
• 19:53
  Speaker 4: But again, you say wall Street, where is the one?
• 19:55
  Speaker 2: When I say Wall Street? When I say Wall Street,
• 19:57
  Speaker 2: I'm talking about trad fi.
• 19:58
  Speaker 4: Where do you see the TRAT file? Again? You claim
• 20:02
  Speaker 4: that you did the research for this? Where is the
• 20:04
  Speaker 4: Wall Street ratio? No? Seriously, like I mean, if we're
• 20:07
  Speaker 4: going to throw words like research, we're going to throw
• 20:10
  Speaker 4: words like Wall Street model ratio. I just want you now.
• 20:15
  Speaker 4: I think that maybe where you're mistaking, Paul, is that
• 20:19
  Speaker 4: a lot of Wall Street companies use the technology. And
• 20:23
  Speaker 4: I know that that is very annoying.
• 20:25
  Speaker 1: That's normal, No, that's I think that's normal.
• 20:28
  Speaker 2: Yeah, of course, I mean we are seeing a transition
• 20:31
  Speaker 2: into I think, the next era of finance, and there
• 20:34
  Speaker 2: is no way that Wall Street's going to be left
• 20:36
  Speaker 2: out of this. You already see this with what Blackrock
• 20:38
  Speaker 2: is doing. You already see this with every major fund
• 20:40
  Speaker 2: out there. Obviously we've seen it now with what's going
• 20:43
  Speaker 2: on with the CFTC and the SEC clarifying sixteen assets
• 20:47
  Speaker 2: as commodities, so all of this is going that direction.
• 20:50
  Speaker 4: It is we understand that this quantities. Again, if you
• 20:53
  Speaker 4: did your research, you would see there's a language that
• 20:56
  Speaker 4: says such as and gave examples of sixteen assets. They
• 21:00
  Speaker 4: actually came up with a very clear definition that in
• 21:03
  Speaker 4: my opinion, if we were to put the SEC on
• 21:05
  Speaker 4: this panel, they would say the list is significantly longer
• 21:07
  Speaker 4: than sixteen. So the actual text is, well, if we're
• 21:11
  Speaker 4: saying that we're going to be clear and specific, then
• 21:14
  Speaker 4: let's just be clear and specific. They made They came
• 21:17
  Speaker 4: with a definition of what is a commodity and specifically
• 21:21
  Speaker 4: such as meaning gave an example of a list of
• 21:26
  Speaker 4: names that would fit that difference.
• 21:27
  Speaker 2: For sure, for sure, absolutely any project out there could
• 21:32
  Speaker 2: eventually become a commodity if they apply to those rules.
• 21:35
  Speaker 4: For sure, or already are a commodity, is my point.
• 21:38
  Speaker 2: Yeah, and there's probably several, you know, dozen to hundreds
• 21:41
  Speaker 2: of projects out that they could qualify for that right now,
• 21:44
  Speaker 2: you know, all right, so we're going to get into
• 21:48
  Speaker 2: our lightning round with you. It's where I would land
• 21:51
  Speaker 2: and it's where you would land. Okay, In terms of questions,
• 21:54
  Speaker 2: so we'll start off with the first one, and that
• 21:57
  Speaker 2: would be that the DCCC is the ultimate enemy enemy
• 22:02
  Speaker 2: of retail.
• 22:02
  Speaker 1: This is especially after Game Stop.
• 22:04
  Speaker 4: The dt c C is the ultimate enemy a nonrofit
• 22:09
  Speaker 4: the DTCC. Game stop, I mean, come on, game stop.
• 22:14
  Speaker 4: Game stop was a mismanagement of risk, not by the DTCC.
• 22:18
  Speaker 4: The DTCC operated just fine. The dt c C actually
• 22:22
  Speaker 4: provides quite a lot of scale and efficiency to the
• 22:25
  Speaker 4: US equation.
• 22:26
  Speaker 2: So you say, no, that was a major snafu in
• 22:29
  Speaker 2: the system. When we started to see the halting of trading,
• 22:32
  Speaker 2: the DCCC was the one in control of that.
• 22:34
  Speaker 1: So again again Robinhood was the culprit. But that was
• 22:40
  Speaker 1: the key.
• 22:40
  Speaker 4: Robin Hood DCC did not halt trading. That is just
• 22:45
  Speaker 4: factually incorrect. The DTCC has nothing to do with trading.
• 22:48
  Speaker 4: The DTCC is a settlement system and it's a clearinghouse.
• 22:52
  Speaker 4: If you want to say, if you want to say
• 22:54
  Speaker 4: that the ultimate enemy of trading is clearing houses, I'm
• 22:58
  Speaker 4: happy to have a longer debate. Okay, Okay, Well, then
• 23:00
  Speaker 4: let's be clear, don't don't call the DTCC the ultimate enemy,
• 23:03
  Speaker 4: because that is just for incorrect.
• 23:06
  Speaker 2: Is it a more trusted counterparty risk than say xdox
• 23:11
  Speaker 2: or cracking for token?
• 23:12
  Speaker 1: Is?
• 23:13
  Speaker 2: What?
• 23:14
  Speaker 4: Do you absolut fucking lily?
• 23:16
  Speaker 2: Yes, Okay, so you're yes on that the new era
• 23:21
  Speaker 2: of finance is changing and a lot of people are
• 23:23
  Speaker 2: having problem with that details.
• 23:25
  Speaker 4: But again time, I think you're asking your question as
• 23:28
  Speaker 4: as a more trusted counterparty. Again, I'll remind your listener
• 23:33
  Speaker 4: to DTCC is a non profit owned by the industry,
• 23:38
  Speaker 4: and you said that is less trusted than a single company.
• 23:42
  Speaker 4: I think that game theory Paul will disagree with you.
• 23:46
  Speaker 1: Yeah, maybe, I mean they would, you'd have to throw
• 23:49
  Speaker 1: by the way.
• 23:50
  Speaker 4: I think that just generally speaking, game theory will disagree
• 23:53
  Speaker 4: with you. You know, we're we're in this world where
• 23:55
  Speaker 4: we say decentralization reduces risk and you're literally asking me,
• 23:59
  Speaker 4: is a de centralized, member owned industry nonprofit is a
• 24:04
  Speaker 4: less trustworthy counterparty than a single company. Those two companies
• 24:09
  Speaker 4: that you said are great companies, to be clear, but
• 24:12
  Speaker 4: they are maximizing revenue and the DTCC is a nonprofit.
• 24:15
  Speaker 4: So again I just I just find it very odd
• 24:19
  Speaker 4: that you would disagree with me, and that independently of
• 24:22
  Speaker 4: the companies that you just stated, just the structure.
• 24:25
  Speaker 2: Okay, Well, the idea is, it's not a debate on
• 24:28
  Speaker 2: the lightning round. The idea is, we just want to
• 24:31
  Speaker 2: know where you stand.
• 24:31
  Speaker 1: That's all.
• 24:32
  Speaker 2: DTC and CC and CANTON are currently advocating for the
• 24:37
  Speaker 2: kill switch on DeFi.
• 24:38
  Speaker 1: Do you think that is happening?
• 24:41
  Speaker 4: I don't think I know that it's no.
• 24:44
  Speaker 1: Okay, you're saying no, I don't know. I'm just asking
• 24:46
  Speaker 1: you if it I'll go with that. I don't know
• 24:49
  Speaker 1: if it is or not.
• 24:50
  Speaker 2: But I know this is that nobody wants a kill
• 24:53
  Speaker 2: switch in DeFi. That I can sure you of when
• 24:57
  Speaker 2: it comes down.
• 24:58
  Speaker 4: To it, really really yeah, yeah, the defise when hacks
• 25:02
  Speaker 4: happen they go to court, is that a kill switch?
• 25:05
  Speaker 1: It is a kill switch? Then we have failed decentralized five?
• 25:09
  Speaker 4: What about these they went to courts? What about the
• 25:12
  Speaker 4: Dow hack? Do you agree that the theorem should have
• 25:14
  Speaker 4: forked after the Dow hack?
• 25:15
  Speaker 1: All?
• 25:15
  Speaker 2: Right, well, we could get all that's that's a new
• 25:18
  Speaker 2: one about you. I think the bankless guys would be
• 25:22
  Speaker 2: good at that.
• 25:22
  Speaker 4: Why why why you can in a sense the bankless
• 25:26
  Speaker 4: guys only when it's convenient.
• 25:27
  Speaker 1: I'm asking you, no, no, no, no, we're are situation.
• 25:30
  Speaker 4: Is nobody wants to kill switch. I'm asking I.
• 25:33
  Speaker 2: Don't think anybody wants a kill switch. I know I
• 25:36
  Speaker 2: don't have a kill switch.
• 25:37
  Speaker 4: When Suey got hacked and they forgot about it, do
• 25:40
  Speaker 4: you make a stink about it?
• 25:41
  Speaker 2: I'm not going down that direction, but that sounds like
• 25:44
  Speaker 2: a conversation we should probably have.
• 25:48
  Speaker 1: All right, so let's go into this.
• 25:49
  Speaker 2: If if e XRPL Solanna Cardono had native privacy, is
• 25:54
  Speaker 2: Canton just now doesn't matter because these would be huge
• 25:57
  Speaker 2: chains out there adding native privacy?
• 26:00
  Speaker 4: Could you add a few more derogatory comments before the chain?
• 26:04
  Speaker 4: But if they add it with a clear question if
• 26:09
  Speaker 4: if that is the key word, yep, yeah, yeah, but
• 26:13
  Speaker 4: but you should capitalize it and put a lot of
• 26:15
  Speaker 4: like exclamation and make it bold if. I mean, then
• 26:19
  Speaker 4: Canton is another very unique chain. But yeah, I mean
• 26:25
  Speaker 4: like all of them. You know, if all the features
• 26:28
  Speaker 4: are the same, then what differentiates all of them? So,
• 26:30
  Speaker 4: I mean it's just kind of a silly question.
• 26:33
  Speaker 1: All right, Well, you know, we're have we like to
• 26:35
  Speaker 1: have fun, you've all here on people.
• 26:38
  Speaker 4: This is this is actually very fun. I like to
• 26:40
  Speaker 4: educate you.
• 26:41
  Speaker 1: Yeah.
• 26:41
  Speaker 2: I haven't been educated yet, but okay, Canton has seven tps?
• 26:45
  Speaker 1: Is this true or false?
• 26:50
  Speaker 6: Uh?
• 26:51
  Speaker 4: You know, maybe you should be more specific like seven
• 26:54
  Speaker 4: point seven nine eight. No, it's just false false.
• 26:58
  Speaker 1: Okay, all right? Interesting. Let me know. Oh, guys out
• 27:00
  Speaker 1: there on the internet, do your thing.
• 27:02
  Speaker 2: Are we you know, are we going down the wrong
• 27:04
  Speaker 2: direction here with seven tps on this or not? Here's
• 27:08
  Speaker 2: the token six billion market cap, eleven million in volume,
• 27:11
  Speaker 2: A fifty percent supply dilution incoming hold and pray, a
• 27:16
  Speaker 2: fifty supplied dilution incoming coming down the pipe?
• 27:20
  Speaker 1: Is that true or no?
• 27:22
  Speaker 4: Not true?
• 27:23
  Speaker 1: Not true?
• 27:24
  Speaker 4: No? Did you did you do your research on the
• 27:28
  Speaker 4: fact that all of the supervalidators and apps locked all
• 27:32
  Speaker 4: of seventy percent of their holdings?
• 27:34
  Speaker 1: There you go. Then they're on hold? All right.
• 27:36
  Speaker 4: I'm not praying though, so that's not my answer. I'm
• 27:39
  Speaker 4: just holding.
• 27:40
  Speaker 1: Okay, you're going to hold, We'll put hold. I like that,
• 27:43
  Speaker 1: all right. I'm sure that the Internet is going to
• 27:45
  Speaker 1: do their thing on this one for sure.
• 27:47
  Speaker 2: Uh DTCC will leave Canton like coinbas left optimism they're going.
• 27:50
  Speaker 4: To do their own I don't think. I don't any
• 27:54
  Speaker 4: of those answers. So you need to the bottom.
• 27:56
  Speaker 2: Impossible, All everything is prop Oh, okay, everything's possible. All right,
• 28:03
  Speaker 2: Canton is going to partner with Palenteer survey all the boomers.
• 28:13
  Speaker 1: We pulled, no pun. We just have fun. We just
• 28:15
  Speaker 1: have fun.
• 28:16
  Speaker 4: I mean, tell me how many assets have been frozen
• 28:19
  Speaker 4: on Canton.
• 28:20
  Speaker 1: I don't know how many have been frozen? You must
• 28:22
  Speaker 1: have an answer.
• 28:24
  Speaker 4: Do you want me to answer how many assets have
• 28:25
  Speaker 4: been frozen on the Theorem and other chains?
• 28:27
  Speaker 1: Well? How long have you guys been around?
• 28:30
  Speaker 4: Well, h enough enough enough to be for assets to
• 28:34
  Speaker 4: be frozen. But I again, I guess when you don't
• 28:37
  Speaker 4: have privacy, a lot of assets can be frozen, and
• 28:40
  Speaker 4: a lot of assets.
• 28:41
  Speaker 2: So okay, after this, I'm gonna more likely to recommend
• 28:46
  Speaker 2: every company that builds on Canton versus any other chain.
• 28:50
  Speaker 2: You think I'm gonna recommend building on Canton.
• 28:53
  Speaker 4: Now, I think you like me, you like us more
• 28:56
  Speaker 4: so I don't know if yes, but slightly slightly.
• 28:59
  Speaker 2: Yes, lightly yes, I'm going to be in the no camp,
• 29:02
  Speaker 2: I think right now. But I'm open. I am never
• 29:05
  Speaker 2: closed off two ideas.
• 29:06
  Speaker 4: But my question is, are you in the hell no camp?
• 29:09
  Speaker 7: Right?
• 29:09
  Speaker 4: I actually changed it into slightly yes.
• 29:12
  Speaker 2: All right, there you go slightly yes, and you're still
• 29:16
  Speaker 2: I'm still in the hell no camp. But I am
• 29:18
  Speaker 2: open as always to looking at any project because things change,
• 29:24
  Speaker 2: you know, so when things change, anything can happen.
• 29:27
  Speaker 1: Man, anything.
• 29:27
  Speaker 4: I have showed openness, but I get it. It's okay.
• 29:31
  Speaker 4: I appreciate the comment.
• 29:33
  Speaker 2: Yeah, well, the point with lightning around the course is
• 29:35
  Speaker 2: to have fun. Really, at the end of the day, listen,
• 29:38
  Speaker 2: you've all, we're going to be watching Canton. You know
• 29:41
  Speaker 2: where I stand. I think, you know, it's just you
• 29:45
  Speaker 2: have a lot more inside information than I have. But
• 29:47
  Speaker 2: maybe I should become a validator so I would have
• 29:50
  Speaker 2: that information and then be able to make a much better.
• 29:53
  Speaker 1: You know, conclusion.
• 29:55
  Speaker 4: For sure, we would love to vote on.
• 29:57
  Speaker 2: Well now I've got the website where I can do that.
• 30:00
  Speaker 2: You know, you may get one from you know, Baron Capital.
• 30:02
  Speaker 1: You never know. Yeah, all right, you've all. It's been
• 30:05
  Speaker 1: great having you on the show today. Thank you so
• 30:06
  Speaker 1: much for coming in. We appreciate it.
• 30:08
  Speaker 4: Thank you for the entertainment.
• 30:10
  Speaker 1: You bet.
• 30:17
  Speaker 2: If you like this video, like and subscribe, drop a
• 30:19
  Speaker 2: comment down below, and also join our free private member group.
• 30:23
  Speaker 1: The link is in the description