Crypto Use Cases: Driving Global Adoption - TOKEN2049 London 2022

today we're going to be speaking about something very important how we take the technology that all of us showed up here to learn about and actually make it mainstream and do so around the globe we don't need this isolated and just turkey in Korea the two countries perhaps with the highest incidence rates of of wallets we need this to be everywhere and the founders and investors on the stage here are the people driving it right now so let's get their take on it what we're going to start with some introductions Victor let's start with you yeah thanks a lot David so my name is Victor I Run Rockaway X we are we have three divisions investment division we have a market neutral hedge fund where we provide liquidity into D5 protocols and we also have an engineering team all together we manage 500 million dollars excellent CT hi everyone my name is shiti I am the chief operating officer at FSL FSL find Satoshi lab is the parent company of Step In which is our move in an app where you buy nft sneakers and walk jog run to earn cryptocurrency we've also launched our own decks decentralized exchange called door dwar it's number one on Solano already we're also on BSC and eth and the third app the third product that we've launched in one year itself is more mwar it's an nft Marketplace and launch pad and that's also on Solana and ethereum excellent Calvin okay hi everyone I'm Kelvin I actually wear two hats I'm the general partner of Pluto's VC a 200 million U.S fund based in Hong Kong and recently we invested in candy Club the logo on the chair that all of you are sitting on today yeah sure around and take a look it's a cool logo yeah so Kenny Club is the project that four months ago when we saw this project we actually gave took up the whole entire project all the funded it fully so that they do not need to launch another token out into the market because we wanted a project that is big enough to help other tokens in the market today all right well we'll get into what it is in a little bit I think that's enough an introduction Calvin you are certainly qualified to be talking about adoption here and that's what I really want to drive today so the first question is a more fundamental one how much adoption do we actually have and I ask this because we're certainly seeing headlines obviously the FTX debacle is making headlines in the United States but it's also doing so pan-europe even Pan-Africa and Asia this is having an effect but how many people are actually using crypto today Victor I know your company recently put out a really interesting kind of blog post slash research report do you see that people are actually making use of tokens in today's world yeah so um the latest estimates are 300 million users globally and actually only in the US it's around I would say 10 11 of that so with respect to the U.S population is only 12 so we are really in like the penetration like the internet in the 1990s uh however we still have the same growth and around 80 per annum just like the internet when it was growing is that true you're seeing something similar to anyway a growth curve like internet adoption yeah well let's internet was invented or created as we know it today in in 1983. it really so it's like you know 30 years ago it really took it really took uh 40 years ago it really took first 13 15 years to just have the initial 12 penetration in the US I still remember I was living in the US we got this you know AOL CDs oh yeah it was just as difficult to get on the internet like it is today with Fiat on-ramps but we are very excited about we call it web 3 consumer use cases we wrote a blog post if you go on Rockaway X dot com on the blog and there you see around eight use cases we are really excited about and I definitely want to talk about a number of those today because these are some of the forces driving it and your organization's done some really extensive research on this and Calvin look you've been investor in the space for a number of years now you've invested in what 60 companies so far uh 209 companies so something like 60 companies 209 companies he's invested in um are you seeing real adoption of digital assets or is it something that we fan boys and girls um simply hope exists so we we started in 2016. back then it was more of like uh High palm and dumb of the tokens we follow the trend on how to play the market but in reality what we are seeing today is that real adoption is definitely coming and they are already some cases outside there today well one of those used case just might be working out and getting paid for it we all saw so by we I mean the industry saw earlier this year a real phenomenon the use of doing something good and actually being in some ways incentivized to do more of that how to step and work yeah thank you for that so speaking whether real adoption is happening I would like to give an example it's one of our users she suffered from cancer so no we didn't cure cancer but she wrote to us where she had lost the ability to walk because of chemo and because of side treatments and she documented and video journaled her Journey where after her chemo and everything was done how she started using Steppin it's an app which you download from iOS or Android store once you buy an nft sneaker you use that to walk jog a run and in the process you earn cryptocurrency so what happens is even though the earnings may be nominal you get incentivized every day to do that activity until the adrenaline kicks in until it becomes a habit Fitness industry is all about results so so I I love what you're doing here and I really believe in the mission of Steppin um a lot of people will say yes but but it's it's nominal and inflation over time should result in the actual I'm going to call it dollar value reward of these tokens um decreasing but does that actually matter I mean people are working out and isn't something better than nothing yes absolutely and that's what I was on to that Fitness industry is about results as should any other good which was your question doing good and doing real value and giving real impact to real users should be about and once it's about results you have to see what Drive results the results in our case were driven by two things incentives and accountability just like gyms gyms are otherwise biggest charities in the world the one reason that does make them work is your instructor who you go in day out day in day out or your family or your friends who you feel accountable to as I speak here there are community events happening in various cities across the world Sydney Melbourne Taipei Philippines Singapore New York these are step-in event community events absolutely immunity decides we're gonna throw these things not done by us in fact I discovered a site six months ago called steppenworld.

com which had nothing to do with us all of these events were actually listed by the community on that website of course after that I tried to integrate it on our website all right so let me ask you a question that eventually is going to devolve into more conversation um here deeper conversation what's the age what's the demographic of the people who are making use of this specific fantastic application 33 of our users are actually non-cryptonative when I go to one of these events it's not just 22 to 44 year old white males crypto Bros or digens they're actually there you guys are crypto Bros and degens I think keep going they're spouses their their babies in Bush prams being pushed their their in-laws friends family some people who are actually making their first crypto wallets yes onboarding in crypto is still tricky because of the bad name that space sometime gets which is only going to get compounded with these events uh but you're doing it for free so it doesn't matter it does it doesn't matter yes it shouldn't matter but with these events um with these incentives with these use cases with more utility to nfts to crypto I think onboarding should and will be coming and hopefully we get more more types of demographics you know um a few years ago back in early 2016 I had the opportunity to launch the first decentralized social network called steemit and it's worth noting that steemits first and most important and by Far and Away the most read effectively sub-rented uh the the channel that they were they were uh using was the trading channel of course talking about crypto you know the second most popular channel was gardening that's right in early 2016 probably crypto bros we're talking a lot about gardening but Victor I want to go further into the research and some of the things that Rockaway like your thesis as an organization that's investors Traders Etc I mean as Engineers what are the other categories Beyond of course exercising and and how it even can encapsulate exercising um in your so I think like shitty had a very good point that you know it's uh Stephen is helping new users to be onboarded into crypto and from that side we look at new consumer use cases and we split them into two categories one is physical world and stepan is a great example or sweatcoin or general pets of applications which are focused on what we call activity gamification second there is for example coordination for creation of networks like Hive mapper or helium you can actually with Hive mapper get a camera you put it on your in your car and as you drive around you actually help to create a much more precise Google Maps alternative and of course you get centralized Google Maps yeah the center has Google Maps so that's activity so that's networks also another good example I think is fashion fashion brands just last year for us represented a very interesting new channel of onboarding users into crypto around 300 million new million dollars was generated last year by Nike Adidas Dolce Gabbana when they not only issued nfts but also generated revenues from secondary sales and actually really cool for example you can open a Snapchat filter look at your shoe and you chose to go if you have like a cool very cool nft it shows you the shoe in in in augmented reality so for us crypto means like not only earning but also belonging to a society and having within the society a special specific status so you said so there's physical yeah what's not physical and non-physical is virtual actually gaming so today 48 of all transactions or active users are related to gaming if I take example of games I really like like I really like first person shooters take a look at EV dot IO for example you can earn when you should because it's basically advertising Revenue which is split into the tokens or mini royale.io where you can basically improve the armor and then have it as an nft and sell it on marketplaces like magic Eden another very nice segment we are looking at and we are just leading the round of three world three moons it's a Comics books so it takes five years to create a triple A game takes six months months to create a nice Comics book and we are now working with a team who were authors of Spider-Man Thor and Superman comics books and they love blockchain because it helps them to distribute the comic books directly into the user but also the user can now adapt the story they can participate in a story they can have an avatar their own nft they can improve it and they can sell it so actually earn via reading the comics book Comics books are a big industry around 12 billion dollars are generated annually through sale of comics books which is 20 times lower than gaming but still very interesting numbers still certainly big and it seems quite Global it's a distributed readership of that yeah but let's let's go into other types of gaming so Candy Crush or sorry candy Club I should say is one of those um it is indeed a gambling app is that a fair characterization um or is it social gaming this okay well what what we do is that we take we were looking for something that has a few key characteristics in the market that can help existing tokens so if you want to help an existing every tokens have got a duty what is that Duty people comes into blockchain primarily I mean I would say like more than two-thirds of people who are in crypto today is to make money am I right everybody at the audience right people coming to block crypto is to make money so at the end of the day if they can't make money in crypto people go away the same with the internet back then so we were looking for something that can go beyond games online games casual games and so on so if you take out an FPS like um what you just said just now in the audience probably maximum one third of the people would play an FPS game and then some would play like hyper casual games and so on but that's why we took one of the most profitable game in the world if I were to take a hyper casual game I cannot assure you that you as my partner you'll be able to make money you'll be able to get back your tokens and majority so our community would want let's pull back a minute so what exactly is candy Club if I went with us the world top casino games including live gaming so several different casino games several different all in fact you think you name it from slots everything that you see in the real money Casino gaming world we took all this and we put into candy club for social and what does that mean exactly so social gaming means that we do not deal with fiat currency you can't use your stable coins but and we don't sell any any tokens at all we have no tokens if you come in you have to bring your Solana tokens of your or your you know currently the useless ftt token come in and gamble It Off hey you probably double it and so on because it's worth nothing to you anymore okay so so the idea being you are essentially resurrecting perhaps some dead tokens and finding making a new case for them not just debt tokens we the primary goal of plutance we see when we invested in candy Club our goal is to help the token industry every token needs third party participation so to give it another raise on Detra a reasonable debate to give a reason for people to use the token yeah use case of token is a key primary objective so let me ask you this in this in the same vein as some of my other questions earlier is this a global user base that you're finding who's making use of this do you have any data on this yet I know it's early days so we are very early we are supposed to launch for World Cup so this is the first World Cup that you can use any tokens that of our partners and bet on your favorite team okay that sounds uh quite Global considering the World Cup has a lot of countries if I can build actually I think in addition to gaming sports industry that's why we are here we'll also a big I think segment to onboard news of crypto take a look at Fan tokens yeah if you go on cryptoslam.io you can see the trading volume of fan tokens it's around six billion dollars per month nft's trading volume is 600 million so it's 10 times bigger fan tokens in terms of trading volume is 10 times and that's already and things did not exist that long ago yeah and you know and of course it's 80 20 so 20 of sport clubs generate 80 of Revenue but you have you have AC Milan you have PSG you have you have now you have Formula One Alpine team very successfully yeah also launching their fan token and that's another new user base adopted into crypto and um binance for example if you are a sports team you want to onboard you have two platforms binance and socials or Chiles to be able to onboard you know uh funds into into the blockchain if you are a sports team and you help binance to onboard their users binance pays you fifty dollars per onboarded user because they know it's calculated that is less than you know I don't know 150 dollars their customer acquisition cost so Sports we think will be another big section so first what you just mentioned there yeah these fan tokens Can Be actually cash flow generating Beyond simply fee generating on on trading and in onboards a totally new classic class of potential users to the crypto ecos and it's also a win for the sports team because it helps them to engage better with their with their friends directly and also you know create for them specific experiences like go and see Lionel Messi after in a cloakroom or you know choose what the captain will have written here on his on his you know Captain band yeah it's really cool which song will be played when someone scores a goal yeah those are just some some you know utilities that the token uh could provide that is that is a that is an excellent point actually so we we explored the fan token ecosystem pretty um well and deeply for collaborations what you said about adding experiences uniquely to users and onboarding different class of users is is the weight forward for Mass adoption one one of the ways that we ended up doing that was through the collaboration with Essex so the sports brand and this was the first time at breakpoint we released a physical drop tied to nft drops so we originally did the drop on binance a few months ago which in itself was success for 2 000 slots we had 190 000 stakers but even with this drop where there was a physical shoe that was dropped by Asics and it had for every single shoe purchase you could get one nft badge of step in that would enable you for an nft ruffle as well and the community went just Bonkers within hours well I've got to say these use cases are fantastic for kryptos Victor but one issue is that it's really hard to get the tokens in the first place unless you're making use of an application where it's totally seamless yeah um you know when you're investing in some of these companies to what extent are you doing diligence on the user flow or their ability for users to actually or sorry if the companies actually create great UI ux experiences look I mean we are really in prehistoric times in crypto why why when I want to make a trade I need to take a Hardware Key go upstairs plug it into my computer like it's really prehistoric times yeah my father is a professor in cryptography at the University he does not know how to use crypto yeah it's so complicated wow so it's it's super important but look I give you another example yeah fashion brands like we just discussed the fan tokens and it helps basically engage with the customers with two with Brands directly and Brands they don't know who their customers are you go and you buy a Rolex watch Rolex has no clue who you are but blockchain changes this take a look at Breitling Breitling created a token thanks to Ariana is a French company now when you buy a specific Breitling watch you get also like a card with NFC you put that card next to your phone and you automatically get on your phone the nft link to your Breitling watch and now Breitling can communicate with you directly now you know you're a customer now they are linked in together with your phone they can chat with you and it completely changes the direct to Consumer business model because now there's this channel that they have forever and of course if the nft trades in the secondary Market the way watches do as well they have a way to communicate not just potential new products but also for customer support it can be a really sticky relationship with France and uh for big Brands they do know their customer yeah okay like I I didn't bring my Richard meal they know me pretty well you know you can't yeah I don't have so much money yeah no I mean some some of them do there's no question but I think there certainly are some products where uh this could be a stickier receipt right if an nft could be a much better three-dimensionally better receipt there might be some value there and as it turns out there's probably some defy applications but I do want to stay on top of how we can go and make crypto more widely used actually used um and I do want to talk a little bit more about kind of well the utility of it with can't with your organization sorry with your product that you're coming out with right now how easy is it to use for an average person very easy okay actually um if you don't have a crypto wallet you can just come in we give you free credits to try and then and if you want to do like uh exit there's no there's zero exit for those free credits but if you want to do so it's kind of free to play almost free to play everybody is welcome you know go try Casino go try World Cup for free you know that's as open as that so the key is to bring in as much usage as possible and wire that introduce it back to the crypto Community all right well let me turn something on its head we certainly heard a lot of optimistic reasons for or use cases for crypto what is preventing adoption so far sweetie I think one of the points could be technology the majority of technology for example nfts right now Beyond monkey jpegs how do you add utility to nfts one ways the way we did with nft sneakers getting out there um for for it to be used is running however just taking a step back one of the four things that actually make nfts usable right so it's transparency and divisibility transferability and interoperability and their use cases are broadly two-dimensional one is secular and one is Broad when I say secular that is limited to an nft ecosystem which is what we're currently doing so staking redeemability exclusive benefits etc etc that's what technologies ripe enough for today however the game changes when we go on to broader use cases which are applicable to humanity at large this is where we're talking big game like authentication IP real estate voting ticketing music that's when we start to impact Industries reimagine the way we work live study and for that to happen when we usher in the new era of Technology when we unlock the true nft potential is is when the technology is yet to be built is that correct we're building it yeah we are building it as well like said step in is just the start of our front-end applications we've launched our own back-end infrastructure as well in terms of decks and launch pad the launch pad which is more also invites application applications from creators from Builders as as Builders we don't know how to scout projects but as Builders we know how to build how to build in this space with all its challenges with all its opportunities and we want to work with builders in part whatever little we know and give them muscle of our execution as well Victor you're an investor in the space I mean you certainly study this extensively and you've invested in some of the most successful projects What's missing I think the biggest barrier to adoption right now is greed greed yeah and you know I've been in crypto since long time like we know each other since long time I think the Ico boom initial coin offerings was driven by greed and then it takes time until people forget when the trust disappears defy summer also the greed when you know compounds started issuing tokens but then every project then started issuing tokens just for for people to get yield like thousands of percents you remember that yeah wild and and I think right now like what happened over the weekend is just the case in point of how as an industry we destroy the trust again and I think we are on for like at least two years to rebuild it and I think that's very unfortunate so even as much as technology the fact that greed has set the reputations industry back so far yeah well I think look at coinbase uh annual report yeah 87 of the revenue is retail 7 billion Revenue 6.5 billion is retail the retail is hurt and it's going to take time I think to rebuild this trust and and I think I'm not in crypto for the money yeah like I'm born in a communist country it was really hard to go across the borders crypto is just for me it's Financial Freedom it's the financial layer built on top of the internet and just like with every Financial instrument we had before like credit cards also in the 60s were used for fraud it's also used for fraud but I think it's very unfortunate Calvin what are we missing um I think greed is greed is the powerful word here grid is good you know okay without grid there's no cryptocurrency market today it's a fact without grid nobody comes into cryptocurrency why do everybody why do any of your uh buy crypto or buy Bitcoin it's not for the love of Bitcoin it's not for the love of vitalik you know we are not in love with vitalik right I respectfully disagree huh Victor loves metallic it's not about it's not about the technology I mean majority of the people who comes into crypto wants to make money is an investment they today I took Uber my my cab driver was talking me hey you're going to you know that place that's happening that's a crypto conference that I said how do you know I just bought you know Bitcoin last night because it dropped and he's gonna pop back up and I'm like so you asked me what do you think I said maybe there's one more drop copy and he's like oh okay so what's missing isn't greed but what is what is missing why is it not that Bitcoin is everywhere why doesn't every single person uh in the UK have a Bitcoin wallet uh because there's no that's why I say that everybody should buy Bitcoin you know because Bitcoin of 21 million maybe four to six million is already gone can't recover it back so if every multi-millionaire or millionaire wants one Bitcoin there's not enough to go about so buy your Bitcoin today so I'm gonna take that as his answer meaning not enough education so that's how I'll interpret that in education okay well um we've got about 10 minutes left in the conversation and I want to talk about some of these other use cases Victor again you outlined about eight different categories previously yeah some virtual some physical um let's delve further into the virtual loyalty points so loyalty points are a really interesting thing that aren't necessarily driven entirely by greed but we've seen them be incredibly useful for Airlines for example they had to go and make use of loyalty Point systems because eventually when Expedia this is in the rise of the internet Expedia basically took away the high margin business in travel the booking side and so Airlines quickly became a commodity except for marketing and loyalty points let me ask you this Victor as somebody's again studying this and investing in the space how can a web 3 loyalty point be better than the current ones yeah so I give you an example so PayPal or a bank can incentivize You by a real cash when you tell your friend to use PayPal or the same bank because they have access to your bank account or to your PayPal account PayPal gives you I think something like I don't know 100 or 1 000 if you onboard a customer no other like I don't know if you drink protein drinks like protein powders if you recommend a friend they give you a voucher who cares about the voucher but with crypto like everybody has a wallet and the protein manufacturer would know that you recommend the friend and then protein manufacturer can give you you know real value like stable coins directly on your wallet because then they would have access so I think going forward crypto disrupts completely affiliate programs disrupt and so of course in many ways step in is a bit of a loyalty point for working out in its own way it's a loyalty point for doing well for yourself um I'm sure you guys have considered how about to apply this into other Industries or other verticals what's what's your organization's thinking about how to better apply loyalty points I would just reframe that so instead of loyalty points I would say gamification I think that's what you're arriving at um in my head and those eight categories were lovely uh my mental structure is three big use cases for crypto at Large one is payments so b2p payments right right now the Olaf banking system is written at Cobalt it's prehistoric that is prehistoric that's why payments take so forever I'm not talking about like when I pay you ten dollars or ten pounds it happens instantly but that doesn't happen for merchants that doesn't happen for banks and that takes forever crypto does it instantly blockchain that's a better way to do it talking of barrier the TPS is not as high as Visa right that's why technology has to mature that's why it's not there yet but is it a better way to do it hell yeah second exchanges odd time to talk about it but it is uh the likes of Citadel and Robin Hood and you know what happens there crypto would be a far more transparent way to do it D5 would be a far more transparent way to do it and that would be our Mass adoption in financial infrastructure and the third point is social right whether you talk of social meeting blockchain Twitter blockchain Facebook like today if I if I were to tell you Hey listen this is a new WhatsApp it works better try it you would try it but would you really want to come on it you would be like um now who is who's going to invite my friends who's going to start all over again right because all your tweets all your friends all your data is hell it's a typical moat that social networks have incumbents have which is data lakes and also a social graph that's already pre-existing on a platform right and so it needs to be so much better to go and move someone from what's already good enough to something else right hence making them not interoperable trying to not the buzzword yes so interoperability is the key so what I talked about with banks it's decentralization now I'm talking about and then what I talked about evm like building on top of each other is composability I try not use the big words and this is interoperability where you have blockchain Twitter or blockchain Facebook with one single wallet login you with your own tweets can log into any platform of your choice day after day and therefore you are not Health hostage by your data but you choose on the Merit of product and once Tech matures for these use cases there's definitely a better way to do this with blockchain and it's inevitability like today I don't sit and say oh wow electricity is such a magnificent technology it runs the world it runs your medical infrastructure that's how Tech should be in the background that's how Builders build similarly with chatbots AI like you don't say oh wow ai's so magnificent in chatbots it works it has to work it will work better with blockchain some of these use cases are inevitable they are going to happen it will take time we will have setbacks we will have greed we will have lack of trust we will move back and forth but it will happen we will build I would just add like the tokens that then we earn through stepan or through I don't know loyalty programs then it makes all sense because then we can use D5 to borrow against them or we can use D5 protocols like friction for example I really like that f r i k t i o n where through options like covered calls they can help you generate yield on the tokens which you have on your wallet and then the whole circle actually makes sense because the new use cases consumer oriented will like step and will help to onboard users users will then use D5 which will then help the whole infrastructure number of transactions and users grow again so Victor I mean that kind of makes me think about a theory that's often discussed on crypto Twitter which is the financialization of everything and yes there are some issues when it comes to that mostly from Regulators yeah which makes a lot of sense but what if just about everything that might have a value you could think has a value we could never put your finger on you could tokenize in some way shape or form yeah you could borrow against it you could spend it you could transfer it yeah um is is gamification is loyalty points um are rewards that you might get making yield and uh not gambling app are these simply the same thing which is essentially the financialization of everything are we seeing simply one big Trend I think everything is happening now uh step by step if you talk about loyalty points you can look at the crypto debit cards that is now all over Dubai if you've been last month in Dubai almost I think there's a 10 12 of the booth there are all pushing debit cards and you can actually use your crypto easily in Dubai now and crypto.com has been doing this you know for two three years already and rewarding you with their tokens in and you can take that token as a form of loyalty points or cash back right so this is already happening step by step in the in the whole entire industry today itself and payment payment that's uh one point like I say I want to talk bring back a little bit about casino is that uh the casino industry today about 40 percent of people actually uses crypto to buy chips and play in online gambling yes in online gambling so this is a use this is a pre-existing use it's a pre-existing use case that online casino today are starting to accept cryptocurrency in exchange to buy chips that's a big big use case scenario before you really can swipe your credit card online but today 40 percent relatively people uses crypto to to to buy chips yeah because it's cheaper if you swipe your credit card like you got to pay with it goes through like four different banks and every bank takes a fee the payments like yeah if it's crypto it's like you know the biggest the biggest key why online casino companies that that wish that 100 people use as crypto to buy chips is because of cash um they rejects right Visa credit cards rejects yes so I go in I buy a hundred thousand I lost everything I thought I lost my card you know give me back my money right but in crypto you can't do that so what I'm hearing is that greed is both a blessing and a curse well I think that's kind of the lesson I'm learning here and it is both the driver of mass adoption and that which will take it away at the same time mass of jobs adoption have to come in many forms and many ways it's a 360 degree way to drive Mass adoption it cannot be just 90 degree right be careful well let me ask you this outside of greed what is the virtue if there is one of crypto that you think is going to compel more people to to accept tokens to accept Okay I think um one way is that uh cryptocurrency or the blockchain industry are going to replace a lot of traditional Finance people and Company one example would be I always say people ask me hey why do you invest in so many crypto exchanges you know and some of them are like losing money but they are applying for licenses and being regulated is that I believe that crypto exchanges will kill a lot of small countries Stock Exchange small small country stocks exchange like probably even like Switzerland it's going to be gone how are you going to compete with the crypto exchange that trades 24 hours a day seven days a week and it never sleeps right try putting regulators and possibly even citizens voting referenda might have a thing or two to say about it they they want to stop it but at the end of the day they can only go with it and regulate it that's the best they can do right because at the end of the day look um I I hold a Malaysian passport you know any Malaysian I think 90 of Malaysian public listed company or IPO company cannot beat launching a token you launch a token in a bull market that's 20 million market cap US Dollars Malaysia maybe 20 million Ringgit that's nothing all right well we only have a little bit of time left so I do want to ask predictions for 2023.

we're getting near the end of this conference what do you think is going to happen in 2023 that's going to drive adoption of cryptocurrencies I think I think 2024 will be the year where we have another Bitcoin Halloween we have a new elections in the US with the Florida governor being like leading currently but who cares I would say 2023 is a year just like 2019 where we'll have to build uni swap was built during the crypto winter Solana was built during crypto winter I think next year is the year where the builders will have to build should take what do you think yeah just like we had defy summer this will be the age of I don't want to call it D5 but something like that um these this last weekend has further proved it so lots of fun apps building fun use cases re-imagining the way we work live study starting with of course social and entertainment that's where everything Sprouts from so lots of building excellent Calvin so I'm gonna go with the money angle okay all right I'm gonna go with the money angle for blockchain companies it's the best time to you know develop prepare yourself build up communities and so on get people to know you but always put up the sign coming soon right for the retail Market buy the dip all right well I'll say this but that will end coming soon Global adoption thanks everybody [Applause]