Stefan George - Gnosis - Ethereum London

Media the time where the Dow was something interesting big experimental material and what's interesting was that it was first time history that an organization was created where over 11,000 people participating in order to collect money and trades venturing up to the console and this will outs any brainy employees working force organization any like we could cost him out otherwise half was five create such a global organization and I think it's true first time in history like what can be done with blockchain and what the real politics which is coordinating people to achieve common goals so it's most very exciting experiment maybe was exciting in the end but if it is short multi potential material is and we're asking ourselves like what would have happened if this experiment would not have failed so probably a doll has been very powerful funding mechanism for projects you've seen after the doll that there was a lot of I see of craziness lots of people are investing money in all kind of projects lots of scams happening it's a number that existed probably there would have been less scams because I'll clip in various signal to this demise other projects that want to responsible now passed and we believe it's time again to start another dog not exactly the same like this ow but with the different context so let me explain but with a different context so let me explain what we want to do so we want to start the DX Dow the X Dow is an infrastructure component on aetherium which will allow to govern decentralized applications on a theory improve so you may wonder the apps they are decentralized why do you need the Dow so anymore a bit more complex dear today on the theorem in fact not decentralized the most interlock the most popular here today we can say it's probably maker maker down and make it all depends it depends on USD price T which is essentially maintained by a simple multi-sig so decentralized it's not really to be decentralized because there still is one simple music where very few owners control the most crucial part of the system and the same is true for all system that have for example upgradability and there's no is always one central which is fine Trinity and we just don't make system upgrade a little bit then the only way to operate system is to actually to perform which requires all us participating the system also detect and stop this experiment people the control our own decentralized exchange X into the ends of the South so the Dutch exchanged interesting because it is the only truly decentralized change today immaterial why because both exchanges is a classic change from until today they require change components like by weight if they all have centralized components and that's why it is like that everyone's friendly going to use such options and I'm not talking about stuff exchanged today last year I get talk see also if your meter in London about it does exchange so again what's the motivation here much patience as we are able Asians and still allow the organization to govern this education this is important because 10 rooms last census points of paleo systems which is company doses and also users are participating the systems they get they can get over sleep in those dolls and they decided to you to go downstairs become connected right now our economist prominent example the ousted is another reason why event is now stag is because we want to create scalable occupation meaning we want to have as many participants as possible the heart population because only then we can make it plain that is extremely centralized so what's the problem with large population see from this that you cannot give the composition by just requiring people have to say they want something that is fine but if you get up to like 100 or 1000 then wiring big majority is actually no either because it requires both coordination till the moment experience get also policy W BTC doll which is essentially just in what you say material and it takes forever to coordinate those ten puppies it was foolish to sign predictions so it's already known scared of anymore so what you need is something that allows to have large people being responsible and can participate if they born and yet to make sure that this organ is you can still make lots of decisions but making sure that people cannot make decisions at the expense of everyone else in the occupation and that's maybe what the object is works like following they have a photographic consensus framework and if you want to make proposals now what you do is you are submitting a proposal and then in order to make proposal the proposal unique in that food authority plenty for but it is the plight for tension in this population so if you if you want to decide time in order to read both proposals and actually give to just for not and to make sure that only those proposals which are actually rather than get into the tension and can be folded on introduces a prediction game where anyone can be accepted market it's not the prediction market eventually will turn into prediction markets but essentially anyone who owns those tokens which is a token of the object can use of tokens to bet on yes suppose to be accepted or no with Pompey and once the betting volume on the beach contest enough money at stake the proposal is so-called boosted and we propose exclusive which means that by now only wealth in short is required in order to and now you can say okay someone who has a lot of a lot of dental kids they can the other supporters they might be like under super folders and for the organization it might still be impossible to change it with all of them and then someone might be successful in today's proposal and it was prevent this the vegetable in policy proposal grows up with any already boosted proposals to the more Super Pro that they are the more expensive it gets actually to in the state we are just to be quiet yeah and this is just the UC process so you know can be a majority no one is losing it and then people can't stop watching on it for this requires are using my dowsing and anyone can find accepted meaning that yes or no meaning with all the change if there's a change very absent teachers will be standard and to be come to a decision but once the system then though which predicted or porches who move anymore reputation and those that religion it would not be this is debate body motivation to try to cleanse itself are such dead-bolted are are actually reporting and making right [Music] and now [Music] so stop this we missed our administrators exchanges and that exchange is telephone to the smash contract which allows upgrade system basically the relationships in a way that there's a proxy contract which is politics with logic and this proxy can be updated to point to a different model which simply means that the operator logic of a exchanger now that will be in control over the Commission upgrade and change mean a can upgrade system that can change parameters of the system and everything is transparent because the process involves obviously all voices proposal space the the voting page etc answered findings change every time if you look at the state system for example order is very compact model system which can not be upgraded so in case they have to be upgrade then actually everyone has to protect and go to the next system and this example is can involve quite some security concerns as well [Music] is yeah so obviously this house only dollars from the starting with us exchange we expected many more possible applications that want to send particles change and to be to the east our city for that reason because if they don't then it will just be so ends of course it's now because can have life on its own can do whatever the members want it might decide to also just basically employ systems that are already in place so yeah basically no real damage to it I think yes and only if just [Music] [Applause] one quick question first Rico that you're doing this experiment where you could see proper decentralized application taking off my question is around the exchange the vetting process what is the incentive for so much if I smell what is the core require two possible pairs alike I mean considering that it's unchanged it's likely gonna cost a cup of sins whether so the coordination gain you're going to come online [Music] then there's one topic one key pieces functionality that I was kind of missing sorry talking I was waiting you which come too late sometimes you can say something to it which is censorship persistence how do you ensure that people in oppressive countries or it's a situation where your country that is initially normal in accepting and in conservatism very very restrictive regulations trying to suffocate the crypto space although is for that level how do you ensure from a technical perspective to the system is censorship resistance [Music] so if you have [Music] [Applause]