Dominic Longman - Trustology - Ethereum London

[Music] hi I'm development head of cut there astrology so thanks to the female director button so you just throw your wallet provider what custody means is a very interesting one because someone Bobby knows I'm an ex-banker on apologize now for all those young people ooh hey thanks for that stuff previously he asked the other that we investment authorities that really impression is like a feat banks are the world's largest store in wealth funds these told you kind of in a rough future how would the banking structure works most of you will know the fusion of centralization huge amount of specialization maybe even our people in our world who think their jobs are super important really really difficult incredible and so to tell the makings of blockchain things coming and it's all going to change he's something that's going to take a while I there's an expertise in that around that you have a network you want to where the Swift financial network okay basically for financial telecommunication so they should be talking to a sponsor there's nothing that they do very very late that has a centralization of risk in itself and that's all you're interested in blockchain other little ritalin other bits beforehand and I'm getting timeout every so often which is going to be annoying sorry policy we have mainly because we had each other's so idea you may be aware that in 2007 around is taking on the spirit network by the US so when you're as bigger they are you kind of go well if they D on friendly with us maybe they might take off some offers as well right no one country to have that kind of geopolitical power as I was looking at ways to mitigate that good of Chinese in no way shape or form there yet but it's something that could change you in and deal with that geopolitical issue that's kind of the world we're in today what does actually custody mean while it's holding safekeeping assets suddenly the training school for actions for exchange over our viewpoints now have other services on custody because you might be dealing as an entity in South America that you're a the other side of the world and you're trying large custodian being alive imagine what they're doing over this use that as well problem about AIDS if there's an issue even a transaction guess what that when you actually go with oh sorry not my problem you've got to deal with those guys over there and you got a major issue like this huge problem on the side of that you know the bat why now he's really clickable in the blockchain space yet there's all these companies putting themselves custodians or doing in custody all right even the holding safekeeping about it from what does that mean in the absence on the chain the keys actually what you really read about types of platforms or what a very frequency that is lined up there we're very much around I'm kind of centralized pipe businesses they do not really moving to a platform world and information pointing out me building a platform business and that's what we're trying to do as well I'm protocols again the whole piece around the block chain itself I've actually look at that application layer is exactly what he's talking about and the speculation I did a protocol layer and the value that lacks gonna grow that's what Jonah gets involved joly muke from theory and his whole plan on everyone using it and guess what he is going to go on smart contracts mass customization trust absolutely unease done mostly work for me today right now when I'm my previous job when I had 10 custodians when I go to them and say that I need you to do something different for me I'm a massive premium customer of yours the table of contractors you do something different various way to react probably wouldn't really do it in tiny fashion I was cleaning businesses and killing opportunities between the financial markets now they don't know where that's come on so if you look at what smart that should give us maybe that ability on platforms to allow for these businesses to suddenly be more because you have a programmable custodial capability and the smart contract becomes the company for just odeon in itself think quite possibly because what is a company right it has an ability to crawl control I see it's like commonly the exact legal definition that's what a smart contract in the Financial Inclusion yes we are those individual players existing markets I can get to zero I don't get that height about it that things love changing a lot because they change the pumping up to doesn't change what blockchain does for teachers doing what many other plans like into doing things about the financial include it's about that opening this the transparency of opening up access market some of you probably have read Snow Crash you know book out there that we live to let people retain their copy with small amounts of stock this is what this point papers you can't get too weird at least it involves actually they still have a long way to go and actually majors with decentralization is a lot of the institutional learning a lot of those institutional players love having centralized pricing books it gives them someone to beat up and when something goes wrong right and this is where because they're your would acquire it what you think of me because it's an honor an offer on paper that it's going to centralize and possible entity to actually deal without individuals I look at great stuff like multi-party computation please socialization of key management great future might have some plans around my ourselves but there's still a huge amount of way to go I hear that institutional money coming in when a hundred million new to the whole market I've got someone going on you know the bear market so originally I amazing everything that comes like one's ready long long way to go in this space this kind of code dirty on that's why not again is way became a lot of the people that we spoke to so Alex you do I do really was he started selling coins at GDS you can talk about the public signed up by EBS as a signing transaction place in hanging and only device that was through the way that we are securing twenty weeks off separately don't be care about decentralization but mainly normal usability they love the fact that there's something out there that no one can change the fact that that could be run century what I cut down version of ganache thing and then run out and close down to a public blockchain labeling for your viable option and that's what we did making that a smart contract tractable it can go move on in that environment so that could be your rebalancing because that could be your transition management rules III have to be a smart contract that says you know what for this period of time my wife can have a certain weight bring your husband or whatever could have a certain amount of access to my certain amount of assets bringing wealth management down to the individual level half part of the price point but that's kind of be transitionary step and see hopefully they'll mostly the decentralized insanely speak up and you'll see where that gets to that lease is a kind of migratory step to allow for institutions to really stop moving in because we still have a lot of energy of us being involved in them in the middle as we've talked about this everything that we centralized right you still willing to talk to your kids there is no way to recover you particularly easily you can have those seed roads that people go on iTunes in there I found right in there potation and they wonder why they get hacked gigs up panic in the earth right physical side of Tanks yeah now they're great aren't you're one probably means when everything crashed in my co2 tank completely value to that two hundred who sits at home in the nicest - the map isn't problem also if you're seeing any coffee shop and get a legend and I know someone knows you're doing stuff - I love the fact that you're using because devices lack of notes of safeguards right so this is where that's my function that will come behind here on the rest of the song as an issue to something brilliant and I intended to interaction again there at OSHA kind of control points what is the whitelist of like this certain controls etc one of those are necessarily contract in the future for reacting to certain market conditions but it's also troubled this is not just this material you were originally back by consensus we separate it out in November last year did a separate funding race again because not absolutely love the consensus in Jonah and Jerry and the guys but we needed to have a separate amount of Independence and have some other funding come in and is rolled in gray-haired and connected enough we would love to get to superhead funding right but again all of these issues you face we saw that so we would like to know that I bear that on that path probably thank you can't speak basically big how to make these case well you know this is pretty much done paper would it take advantage of that I've even seen some solutions out there which had the paper wallet concept that the printing on particular type of paper which is going to seem attractive robots because the bulk didn't allow for electricity in the vault to manage your private keys and they're going to charge you for that good luck Jim I think it's brilliant scrap you challenge tough not looking off the more money they're pretty obvious concern to take away if that means like you to driven apart in all those lines softly all its right so this is not necessarily the latest what meeting than the guys are doing but storing and key on the plane right probably now is what if you lose you know right you are not recoverable possible tank vectors by now wearing vices I will go on to pieces do not trust Android yes we absolutely want to get to Android yes there is a market Titan ship in Google kitchen for three probably the only thing we start working against right now trust I'm the wheelchair and one can diagnose yes the iPhone can be done by the 8200 in Israel but it takes them a huge amount of time to to do an artifact so anything is hackable if anyone said it's not it's rubbish and rank it there is certain level for you to take trust zone all Android device 30 seconds to a minute for some you know so we look at Android but any the latest ones hollow words they've been hacked people framed copy versions so you've actually got them from factory and it looks like it's putting wraps but you don't know problems of the device back up worries again usually would I memorize the pin so I'm an old man what I destroyed right suddenly my family but I've access to it things like that major cheap new shoes but I can use one brilliant product a lot that you guys what we needed to move things forward let me now me to get through next step of what we're doing yet well I've got society more than planning today ain't only the structures he directs young most of what's going on you know you're relying on their accounting position they have control around the assets you don't have it operational risks most of them we did operational due diligence and any of them for a bit design this is where I get sort of that institutionally not that the certain coming in just yet you've written two pieces again the Canadian both the Mad Dog I'm pretty mr. melon standing over stuff and that's why you have a custodian in the old world and that your exchange Lee custody coastal reach pretty easy fact if you put one of these USB stage that people moving back and forth across I go into the operators family that being one but actually if I on a USB stick for otherwise prices since no GSP speech for Lance on those yes and yet this one is so they can actually factor in Charlotte for you got it there are also living it this way really slow internet connection I love not another food music okay it's still an input and output and moving back and forth this to a very slight attack vector it's not bad problem is it's got huge latency issues access lines and everything what it's like they do that do you know what my vote is so challenges I've only really know will come to school which is I don't think the regulator's doing like Mauritius just talk about one that even though it means make active back p.m. so what do we do we hope it's the particular issue we have all those great concepts of smart contracts anything else but actually going to step down as the female the newly to be fixed so we have our own offering which is personal business accounts you can operate with us so instead of looking I will to to the next couple of slides of khufu platform they make against some of that sickbed how many people you know I notice in is other security module but every bank has one breakfast once we're holding their certificates we use I'll be completely transparent and why I do this is to write though and they're easier coming after us and try to attack us because they should know that we have no access for the capability jemelle toes programmable area we have actually been protected a few doozies were life that will finish youth pkcs 11 which means place when those one who doesn't like them fought around us if you despite code in that that has is sign code for the slide out the chains and come back and emotions do you believe that code born II don't know what's going on that little white maybe asking have you know disoriented some curtain area we do not store the keys in there we don't go up even there's a good reason 1/4 past inspector motion that means that if one of those guys download this so you can away we can I'm robbing moving to someone else what we do do is through your private keys while there rest rats you know as t56 reach this point it's quite cool and I go from a multi-billionaire which is that into the article six or seven called the ease the review Nevada you stole that name of us cloud that HSN thank you very much for known from a top-tier salesmen the formal about Boeing employees and procedures are only Landers so again using terraforming that's been an athlete approaches or you have my AWS we can write in any region so give you some medium kind of resiliency are musical training fact minute or any number of those that we have in any data center around the world what we do is rather than school they produce or a key on if I'm in securing plane will be full instruction for you so any signature or transacting the second and otherwise you sign with that keep trying other man in the middle attack you then goes through huge amount of colleges and procedures and technical checks and safeguards you know AWS acquiring things like you're better at the private key which is currently at wrapped and asked to you by six museum they've become a little hardware unwrapping key in their use it into Saudi transactions your secure transacting that designed than a Hollywood bar and Berkeley students UWL and then right now between the variants they want a hero side we need have about 350 music so I will now shift it back and to demo which of course this is when fewer lets me down so this is me face ideas was destroying everyone given applications these are all main net user accounts I don't have a huge amount of in didn't write any time well what is that saying so many can really easy to magic to notify the cheese so your question about what if someone can see all my money but actually you can spread it across multiple accounts so I sent my account and they will see a certain amount they won't send it so say the pickle joke gently we then sitting on photos how much he would move a certain amount that he needs to pay to an account and they'd said on that that's an easy way to do everything like that segregated on train comes we cannot growing this accounts on the exchanges will not be brothers so let's create an account so easy so let's call this Yvonne dim and it's like these big point when you see you see there you go let's see how much 3G is working face lightly again everything is site collections I am going on 120 accounts rights means that we are listening I'm living as to something you've done the capacity reasons at the moment that you can do these could be scalable to hundreds let's do a me the money in my right so I am going to pick my FAQ trust full get my QR code obviously daddies if you're doing twice is going on as to six oh there's my teeth account to new transaction down can see I'm just not good at it during zero like 0.01 one end we picked up a default gas price of gas station you can change that to increase that continue with generally confirm the transaction for firms and based ID and then that's going this very way we now rely on inferior ego which include things we've the scan in the moments that sent you picked up your private key in that place new leads that busy wages typical data center slightly transactions in Sivan so that's a party big cowboy find a model when it cools now I'm just waiting here is greatest thing come on I'm still going to be a penniless day Oh we'll get back to that but you'll see that hot plate hopefully in a minute go back to the recovery container what we have done use the key that is on here he's not a diva decided which shut the key I tell just you are you pop approaches this changes you are you so you are meant to do to me 24:12 see crazy as anything else like that just like the taken in cartoons we are doing upfront onboarding process so we are using on feed own standard most other starring everyone else is using it three capture your driving license we do KY Singh we do we do video capture and why we do that it's not sometimes to make sure you know anyone day although part of that is obviously we look to them sell this it's a large financially in confusions you will keep using the next five years until Tokyo markets ended but because then now you know what we do I do we can then let's say we lose you back Rakesh I'm going to go in school and get another one I'd go to the App Store and download the app again you log in with your credentials and part of you are back in my pants and right this device doesn't have a key related to your account this must be in the recovery rates earlier rounds Austin o recovery will keep on you have to go to kyc again so again same credentials same dog license give grunt sure we can go through they the overall resume at around to contact you now if we like that we think your you one person that had lost a number of others with Ruby Jean to be by can access I could just recover your accounts to me and rip you off so we split out the whole process back then I was the recovery so we can move that back access back to that device and do that really the day for the recovery process two to three hours okay what we're doing with our an obviously capability chow nice what they might have come up can't on sweating right you steering and you must have a really low price right anyway they also did that because REO well that's a as I saw on has the family would ever look at these are not speaking they might've actually construct when it comes to multi see what we're doing is an obviously not relying on a big point obviously you're going to fear and obviously that Moulton see if you are processing these usable as well in fact but it's allowing across any of your asset classes you can do it by time bounce it you can modern condition coming and you're a pond you can change your controls receivers that's necessary for what up also means these let's say there's not water within the multi season sulfur color so one of the five of you and you can't be leaves your device give you got drunk connecting the cat goes to go to the store get another one from you itself become as well when it comes to virion and love chain and Bitcoin and everything else at that point now we are very much to market like you know anything that the Houston place banking plane so everything we've just seen could be okay we like using Android agent Matthews of his for Android and challenges obviously the device even though we're not doing the private key and then we're just drawing a cube it's obvious to you or me to prove a little [Music] [Applause]