Regulators don't try to support innovation, they try to destroy it - Sergej Kunz

[Music] so it's cool to see more people in this space so my journey would begotten in December 2018 I started to travel around the globe with my co-founder Anton the lever could spitting with hackathons there are not a lot of people and also like conferences are good to conferences uh um it's it was I guess also beer markets where it comes 2018 and I see more people right now I see more projects before we're working on a lot of things in this first finances improving the user experience improving the decentralization approach um it's getting from our point of view bigger and bigger foreign [Music] 2019 and 2020 uh it was really difficult for us to to uh to get some uh uh attention from VCS and Angels investors and so on I guess we did something like 1000 pitches to explain uh why this is the future yeah um it was really difficult yeah and now I guess it's it's easy to race uh for a good idea [Music] uh I still don't understand how seven could do that yeah he's very smart guy uh I know him as well maybe it's it was it went out of control potential because grow fast can run out of control um but yeah gambling is the money of of users of clients is it's very dangerous and very very bad that's why uh we should change the approach uh homework founder Anthony said once uh if a person can make a mistake this person will do yeah for sure if it's possible to make a mistake to come for sure yeah it will happen uh if it's possible that's why we need to remove the possibility to do that so that's why uh if I get more and more attention from from from users from investors because it's uh the next saturation of the global from up on your financial system we are the people don't have to trust greedy persons entities which can gamble with their money we have seen multiple times with the bags right and the and they say they are regulated yeah like Sam was sitting in in the US Congress right and was telling they are regulated by like 10 entities and they're like regulators and and at the end what they did the gamut with eight billions of vestals of client money um and uh and then I should maybe ask what the regulatory do of course we see right now what they try to do they just try to destroy to send industry from up on a view like they attacked Kraken instead of telling them guys uh behalf of remember for this you have to apply it you have three months if you don't achieve it you have to pay but they came and said like okay you have to pay um and this this is kind of a bad approach for apparently they don't uh support the Innovations they try to destroy it to try to control and the control is again in a human or hands you know and it's a human can make it make a mistake they will do it so we have this uh this problem um this cycle of of kind of troubles and problems through possibility to make a mistake [Music] so my messages closer to The Regulators uh we should find a way to not uh kind of prevent the Innovations we should support the involutions like all all together we from our side who in a way and and and find a solution hold to do something more efficient yeah and more in the secure secure manner then they should also help us to to adopt them yeah so to have make it if um kind of regulate it yeah and regulated means not that uh using you like group of people control so I think because that's what they try to do right now uh it means that there's a framework which applies for some Polish it's smart metric based and maybe the smart computer to shoot fulfill specific four requirements security Audits and everything and this uh this is just a program which cannot be changed at all on the blockchain right so and then you don't have to regulate anything there is that like to have some some requires audited the Securities maybe also audited and verified by regulated entity like regulator itself um just this may be a good approach instead of just grinding try to destroy lives to be the scene also we have seen this case with tornado cash and Alex is still sitting at Chris he had yesterday Accord and because they think they did somehow participated in money laundering but they have no proofs still no proofs that's why she's sitting already like half a year in in prison uh because then what they don't have anything but they had a thing with the side thing there of course people who do money language in prison or to pay for this or um but in this case this is I guess more political and more it's also something what people uh will try to solve this or incident in the court they don't understand at all how the course so this guy was just a developer and sitting in prison because she wrote the code is someone sitting in prison for Linux code which was used by North Korean people I don't think so right car manufacturer is not sitting in prison because they built the car which is used by for money laundering to to to to drive the money from one country to another right so uh yeah it's kind of the first case I would say in the space I hope that he will come out of prison and um situation will be solved but it's a real stretch very terrible and we could maybe have another approach for this [Music] too is to improve the the world what we have right now because it's highly unofficial so we have seen multiple times all the courageous we have seen in the financial of the system uh could could be the risk could be reduced a lot by using uh Technologies such as blockchain districts finances and so on [Music] thank you