Fireside Chat with Colorado Governor Jared Polis & Wyoming Governor Mark Gordon w/ Laura Shin

you okay so with without further ado we're gonna go ahead and hand the stage over to Lauren and her special guest Governor Mark Gordon from Wyoming and governor jared polis of Colorado so hello everybody thank you for coming to this panel here I have the governor of Colorado jared Polis and there we have the governor of Wyoming mark Gordon and as I mentioned we are going to release this recording on my podcast unconfirmed so again I'd like to reiterate when you speak speak directly into the mic make sure you hear your voice reverberating all right so governor polish let's start with you before you got into politics you had a very successful career in tech and actually when I was reading your bio I realized we're like roughly the same age and this reminded me of how for my fifth year college reunion I showed up I've been working in journalism for a few years I was probably making like 50,000 a year or something and in my class there were people who by then had already launched startup sold them for millions of dollars and we're like living the high life and you have kind of a similar story can you tell us a little bit about your time to get back on the food or yeah those were those were the days so this was I was class of 96 is that what you were 97 yeah so we're close I guess that means someone a little bit older so yeah this was sort of what we call Internet 1.0 it's what we call it now as you know basically I started an internet access provider with two friends that I met through college this was in the days of dial-up internet access of course just we had you know we had a t1 coming in and we had a server and then we just got a bank started with 20 modems grew it people dial-up access grew the company we raised a professional capital we started it at 93 we raised professional capital 96 we sold it in 98 so that was all happening during that timeframe started a online flower proflowers.com and also online greeting cards bluemountain comm a few others along the way but those were some of the ones people might know and you then spent ten years in Congress as a representative and while you were there you were a member of the Congressional Black Caucus and you even wrote letters like to the SEC chairman J Clayton and the CFTC chairman Christopher Giancarlo you know kind of sort of requesting or advocating I guess very what's the word at you know advocating that there's like loose regulation and regulation that isn't too restrictive in the u.s. around crypto so can you tell us like how you got in the crypto currency and sort of what would be on your wish list for how it should be regulated well I think my most most famous moment there in Congress was when there was a senator that wrote a letter saying that Bitcoin should be banned because you know used by criminals bla bla bla bla bla bla and I basically took the letter and I just everywhere here a Bitcoin I said paper currency should be banned because it's used by criminals it's untraceable it's sometimes used for tax evasion so I sent the same letter without just just using paper currency that was fun I also was the first candidate for Congress I was an incumbent I was already there but running again to accept donations in bitcoin didn't get too much maybe two three thousand dollars but so it was fun to do and then I sponsored some legislation with regard to the creating a framework that allows for more innovation nationally with regard to blockchain technologies transferred to the state level I was just doing an interview of coin desk and they asked me the difference is Congress you can you can do a lot because it's national government a lot of stuff has to be regulated from the federal level but it's really slow really really really really really slow state level really fast but we can only do what we can do so both Marc and I and our states have done what we can to be as opening and facilitating of blockchain currencies we can we passed the digital Securities Act to exempt tokens from you know our state securities laws but again we're still under federal law Wyoming and Colorado are still part of the United States of America last time I checked and Governor Gordon this is actually the perfect segue because your state has launched probably more blockchain bills than any other state so how did you become interested in cryptocurrency and become such an active state in the space thank you thank you it's wonderful to be here I I think it really came about because we have a strong libertarian background in our state it's where we're five hundred and eighty eight thousand people people expect to know everyone that's in government we don't like government we just never have like government and so it's been really important so so you know a number of our legislators Caitlin long is going to be here tomorrow Tyler Lynn dome you know decided what can we do to do things like create the first utility token law in the country what can we do to figure out how to build a logical on-ramp and off-ramp how can we get ourselves under the UCC code so that you don't have to worry about sec how can we build reciprocity these are all things that we kind of put together and about thirteen bills that they're really stood up kind of a framework that it's nice to see others are beginning to kind of copy and follow but I think really Laura what I'd like to say is that the coolest thing about Jarrad and me being here is that you know this is the sort of part of the world where I think that libertarian spirit regardless of party comes to the fore and we really want to build you know this this kind of an environment here well so one thing that I went asking about is you know both of you have power at the state level but this is you know I think something that's actually kind of a burden to a lot of entrepreneurs in this space where especially around the money transmission licensing laws you know all of these startups have to go state-by-state and you know many of the most well funded startups in the space actually still don't even have all their state licenses so you know what do you think should be done about that and what do you think can be done about that well I think Wyoming really worked on that and and built I think we are the only state that has 54 all 50 states can do money transmission that's exempted from any taxation or any other regulation under Wyoming law and so do you think basically every state should kind of adopt that stance or yeah I think it's probably a good idea you know I think what we're really working on is trying to build a whole new ecosystem for these kinds of you know I mean calling currencies call them different settlement regimes you know I think this is really what we're looking at in the future we have some experience in Colorado also around another industry that the federal regs are far behind on because it's technically illegal that's the cannabis industry in Colorado so we we've been doing workarounds we don't we announced our cannabis banking roadmap the other day it's been a priority for us to help make sure that our legal cannabis industry has access to legal banking and financial resources again it's a similar juxtaposition because technically none of that is allowed federally and so we have to do what we can to create that that that safe haven for innovators and entrepreneurs to just be successful in our state so you know I understand what you're doing in yet at the same time I don't know how much it like resolves issues for the entrepreneurs like you know like you you were saying that you thought other states should should adopt a similar regulation but like is there something that you can do to kind of get that going to make it to the Theramore states that adopt that stance well so in Wyoming we have a new what we call our speedy Bank special-purpose depositories and we created a you know basically three different classes of digital assets and and part of what we're trying to do is to build that into a framework that that is comfortable for the SEC and others and so we've really worked hard on that we are banking regulate the nice thing in Wyoming again very small so the banking administrator the head of banking department we've been able to work together I used to be on the Federal Reserve Bank board and so we've been able to kind of craft banking laws around special person purpose depositories and digital asset owning both securitization and utility tokens and and I think if people see a first mover and a first mover isn't shot out of the saddle then perhaps they start to follow and then perhaps you say this this space really is able to be opened up and by that do you mean it's sort of like a competitive advantage and it kind of brings some startups and other states interested in attracting that industry will will want to you know get a piece of that business I don't really know if it's about a competitive advantage it's just about you know actually forging the thing I think you know Jared and I often are in this sort of situation where we're the Wild West and and you you have to have a framework that works but you really can take the lead and hopefully others come along behind we're seeing you know Puerto Rico do that and others and hopefully the federal government I mean we want to push some of the thought leadership at the state level to doing a thoughtful process around this yeah exactly well so can you talk a little bit more like you know other than sort of hoping that happens or is there anything kind of more concrete that the states can do to try to push more sensible federal regulation look I mean we also compete in a global economy and for that very reason there are absolutely watching companies today that are in Switzerland or in other countries because of more favorable legal landscape I think we need to recognize that that's part of the competitive landscape it's easy for a company to domicile wherever they choose the domicile so we need to remove anything that inhibits that kind of innovation in our state now I you know again things are not that dire I mean last year alone 50 million dollars was invested in blockchain companies here in Colorado we have a chief blockchain architect at our office of information technology we passed several bills in the area we're doing a lot of work around blockchain attack and of course we did our digital tokens logs i'm linden from state securities law I mean stuffs happening but we I totally get and we here too yes this company is locating somewhere else because they're not able to get by at the American regulatory landscape well and I think the other thing too is that when people look at you know the United States they tend to look at a place like and in God bless them New York or California or if you know something you see but but really when you come to this part of the country regardless of where it is you you you really see a kind of a culture that says we can handle it here at a local level and my point is and Jarrod knows is much more than than any than I do you know he's served at a federal level it takes a very big push to get things to move so so I think if you start to get I mean you saw this with some of the cannabis laws and others if you start to see a body of work that starts to move forward eventually the federal government has to respond and I was also wondering about the digital token acts that you guys have passed you know kind of enabling utility tokens to be launched you're basically like having icos here in the state um how popular has that been how many token issuers have taken advantage of that in your state's a little trouble hearing your question just like how many ICS have taken advantage of the Colorado so I think well we have you know states have the ability to regulate securities and we do we wanted to exact great next space where we could exempt digital tokens from our state securities laws doesn't mean they're not subject to federal securities laws if applicable it's a gray area but we wanted to make sure that at the very least the state of Colorado is doing nothing above and beyond that that we're simply monitoring and learning from what's happening in the free market and and just to answer your question I think we've had about 40 icos that have incorporated in Wyoming over the last year it's kind of fun to see the mining operations that are setting up in various places so so that's that's happening as I say we've had two charters for the speedy banks so things are starting to happen and when you start talking about utility tokens to me a whole new realm of things open up really cool stuff fractionalized ownership ways to create carbon actual carbon markets not artifices of accounting but actual carbon sequestration markets that sort of thing what we have hello there we go Haley hi we've a new journalistic Enterprise Colorado Sun I don't know if Colorado Sun reporters are here anybody from Colorado Sun so because in fact largely funded through and through digital tokens so it's an innovative model and sort of you know citizen funded journalism that is it's you know it's somewhat commercial their goal isn't to make a ton of money but it's a civic value of it but that's very high profile example here in Colorado yeah now that I think about I actually think I know some journalists who work there and they were telling me about it and I was also wondering so let's say that you know I live in a different state can I participate me as I SEOs without any kind of risk to myself or how does that person certainly don't run afoul of Colorado law or what Elmi law but you have to check with whoever you check with to to see in your state but any issue would not be ours so it tends to like the participants tend to be people who are like already residents of Colorado or why I don't think it's mom I don't think anybody I mean I don't think anybody's gonna again on you you have to seek legal advice wherever you are but I don't think there's an actual issue there as far as far as the actual prosecution no I wouldn't I wouldn't be I don't think there is either you know one of the things that the Wyoming law is working on now is making sure that you have First Amendment rights for code so for example if you've set up an icy oh there's a coin and somehow it's implicated in crime you as the creator cannot be prosecuted for that crime so those are the kinds of things we're doing one it's kind of like the equivalent of what we used to call common carrier laws in telecom right if you commit if you plan a crime over the telephone speaking to somebody in a tease the carrier they're not liable they were simply the medium of communication so same same similar concept so there's something I'm curious about so everybody seems very excited about the fact that you can like launch and in one of these states and you know not have any state consequences but you know I think like in in general in crypto community most people are excited about tokens that are utilized and like decentralize networks and they're sort of like these you know global distributed decentralized it works but I think you know some of these examples that you're talking about if they're kind of like a little bit more local or small like you know I don't think they're really the cripton networks that a lot of people here are like working on building or maybe I'm wrong how many of you would be interested in participating in you know something like the Colorado Sun ICO or you know something that's like kind of specific to Wyoming okay is oh really so that seemed like maybe a quarter to a third or so I guess like you know and I'm not trying to say that like what you your efforts are are not important or useful but I just wonder what impact they will have really for for this group you know like do you see that there is some kind of connection between what if somebody can't locate in the United States they can't located United States but if they can what you know the governor and I are both saying is we would love them to be in Wyoming or Colorado I happen to prefer Colorado he prefers Wyoming but you know what we're actually you know contingent or near each other let's just call it the you know the Cheyenne to Denver corridor about that but no we'd love to have you here yeah and I I mean to me it's a it's a different frame of reference right I mean this is a time when it doesn't matter where you are in the world but you want to have a government that's accessible where you're sort of incorporated so it's a global environment but you want very localized very small very precise government and I would say look there's an advantage to the stability that we all have to I mean some entrepreneurs may say look from a legal perspective the best place for me to be is Nigeria but then you go there and then like armed Raiders take over your headquarters at night or something so like there's something to be said for the stability that United States of America offers so we have some value in that hats they exactly all right well I also actually want to bring up a recent proposal that came out from SEC Commissioner has her purse where she proposed a three-year safe harbor period for token sales I don't know did you hear about her proposal the it's a three year safe harbor period for token sales I would certainly be supportive of a safe harbor absolutely I mean that's what we want to do under state law but obviously from our own securities there's an exemption but we would love any kind of Federals I would welcome any kind of federal safe harbor same and how would I your question was a little different oh no I just I wanted to know what you thought of her proposal I have not looked at it in detail thank you all I heard is that a potential for a federal safe harbor so we I would be supportive of that okay okay and if that were to happen I don't know like how that affects your existing laws well it surely does because I don't think you'd find a welcome reception in every state I mean you'd find some states that might even have an opposite attitude of us they might say oh if there's a federal safe harbor we better get our own division of banking and other divisions to really start enforcing things more originally or whatever I mean there's 50 states they're laboratories of democracy they have all different perspectives so even under a federal safe harbor you might find different states that interpret that differently I think we would say wow let's go let's do it other states might say oh that means we need to do more regulation at the state level because the federal government is not for a period of time and and so I think that's a little bit the difference where where we find ourselves in the evolution of this Wyoming we believe that we have created kind of a safe place we feel that we've been working with a fair regulatory environment and and maybe it's just because they want to see how far it goes or what it does but it but at this point we believe we're about the only state that really has those kinds of relationships across the country and amongst the other laws that Wyoming has passed regarding the blockchain industry which of those are other ones that you think would you know it would have it would be beneficial for those to also be instituted at the federal level well I think the the I'm particularly in fascinated by is a special-purpose depository so you know we've we've defined what the legal certainty about what a digital asset is we've classified them we've created these banks we've created the regulatory structure around them so that now you have ownership of that in that banking institution and I think you know people are saying oK you've really taken a good long look at this and and and it seems like your regulatory framework is working I guess we'll see how that goes it's very young but but as I say it's up and it's running we've had two banks that have dropped their charters here in the last month and what about you I mean you have experienced at the federal level what are you kind of what's on your wish I asked you this before but in the context of you know what you've already passed well you know so the number of bills I may be signed six that had to do with blockchain you at 13 so it also bends what they do but again we didn't establish a council around implementation and act we're focused on state level implementation I think that you know what distributed ledger technologies can offer in terms of you know states are very information intensive endeavors and there's just a lot of information society obviously the distrust of centralized databases is something that exists on the political left and the political right on the left it might take the form of being more skeptical of corporate centralized databases on the that's on the left on the right it might take more of a form of being skeptical of government centralized databases but a distributed ledger solution solves both of those right whether you distrust government or distress corporations or probably distrust both you are finally able to trust yourselves through a distributor ledger technology well so speaking of left and right that was actually my next question governor Gordon your publican governor polis you're a Democrat at the moment this is just my take but I don't see this as being like an obviously of a partisan or even frankly bipartisan issue with sort of their arguments I could make that it seems partisan and other are once I could make print seems bipartisan I'm interested to know what your opinion is of you know kind of attitudes in terms of partisanship over blockchain technology I don't think it's partisan here I mean I think many of the bills that I signed were we have a Democratic majority in both chambers but they were sponsored by Democrats and Republicans they reach my desk with Democratic and Republican votes you know I think there might be a few folks on both sides there might be curmudgeonly or not support things they don't fully understand or be more law enforcement RNA oriented and they might oppose things but but that could be Democrats or Republicans yeah and I I guess I I'd echo that I don't really think this is a partisan issue and I hope it doesn't become a partisan issue because we can screw up almost anything you know it's just good business it's it's good business and the you know the distributed nature of it is very democratic and offers tremendous opportunities and if you love small government as I think both of us probably do you know what better mechanism to be able to create a smaller government than with you know maybe a blockchain apparatus in place [Music] so earlier when I said I could argue it both ways I am going to now argue it one of the ways at least because when I watched the congressional hearings about Libra and Facebook that it there definitely was a lot of animosity towards Facebook obviously but then you even saw kind of like congressman Sherman I think you know saying like these needed to be banned and stuff and so there were definitely it felt like if you were to pick one side that was like a little bit more negative toward blockchain technology would probably be the Democratic side so I just wondered you know it like you know if you are seeing that how do you think you can overcome that like what are the best arguments to make III didn't see the hearings you're talking about where I'm sorry were they about Facebook or were they about blockchain they were about Libra okay they really right now I didn't put all the issues with Facebook came right yeah families have seen what you're talking about so no I don't see it being partisan I mean as I said I think there are some that come out of the kind of you know law enforcement side that are more skeptical of anything that's decentralized there's some on the personal liberty side Democrats and Republicans that are more embracing of anything that can empower people rather than governments or corporations so I again I don't think there's much of a correlation to party I think there's just sort of there's there's parts of the coalition to form the Republican Party problematic in this area and there's other parts I was saying there are parts of the coalition that formed the Democratic Party and parts of the coalition the foreign the Republican Party that are skeptical of these kinds of technologies and there's other parts of those coalition's for both parties that embrace both technology yeah and I would tend to agree but but the other thing is I think this is a you know there's there's a real kind of movement here right and and as a movement it's just sort of overwhelms hopefully the partisanship and the negativity because I mean everybody knows we have challenges and things like insurance well you know now you can create an insurance company on the blockchain and you don't have to have a whole crazy network of you know administrators and everything else to make that work you can medical records we have HIPPA requirements well you know now you can have on the blockchain all your medical records and ain't nobody anywhere going to see what those are unless you show it to them so so I just think these good business things are gonna overwhelm all of that stuff but this this is where it's starting so the another perfect segue because I was also gonna ask you you guys both work in government and as we all know there are a lot of applications where you can use slot chain technology for governance what would you like to see come out of the developments in this technology here we have a whole room of developers and there's even a hackathon this weekend so maybe one of them will take up take you up on your ideas well I'll tell you a couple of projects that we're particularly interested in working on spoke here with some of your attendees a little bit earlier governor Poulos is director of revenue as a dear old friend of mine and we've been talking about a couple of things well how can you build a budget for the state and make it truly democratic make it real time so that people anyone can get on and see what that budgets gonna do to them and understand where the money's gonna go and how it's going to be dealt with and what services are valuable and what services aren't you know really just real-time government that is as close and accessible to the people it's something we can do 580 8,000 people may not work in other places but we'd really like to try to get that started there's so many applications right so hopefully they're here somewhere today but Denver was recently I think the first jurisdiction in America to use blockchain technology for their overseas residents to participate in a recent election when they can vote online was that any of you guys that did that I know okay well they're not here they're probably busy getting ready for the next election but yeah there were a few thousand people that cast their ballots it was a pilot but it was all the Denver residents in the municipal election that lived overseas didn't have to worry about sending a physical ballot through the mail you know from Mongolia to Denver and have it arrived in time they were able to just vote online but there's a lot of great examples in the public sector as he said the public sector is very information intense whether it's health care whether it's demographics whether it's property titles you name it all of those applications really stand to be disrupted by blockchain technologies and the other one anyone didn't ask about was obviously you money is created with this kind of technology and money at least recently in human history has been associated with a government so I was wondering you know what wishes would you have for developers maybe even here when it comes to development of money programmable money so I think it's I don't know if it's about its money per se it's more just a ledger for a transaction which money is a proxy for and so you're sort of just interest intermediating money from the transaction ledger and and you can still call it something like if there anywhere Bitcoin but it's basically the ledger of transactions keep in mind that you know in human history even these non redeemable currencies are relatively new it used to be they were tied to gold or silver or commodity even in the United States of America until I think 1964 or something around then our currency was pegged to gold and silver but again I think when you deconstruct why we have money why that's more efficient than barter the next step is really to say why don't we add for direct kind of crediting and debiting on a shared ledger through you know a distributed technology like blockchain yeah and I guess I referenced that a little bit by just saying yeah you know as I said earlier it's a different form of settlement so you you know if you're if you're gonna have by you electricity on the utility but you're also generating it in a distributed fashion why go through a money exchange it's really inefficient why don't you just set up a tokenization you can make that work you know I spoke earlier about the the opportunity had really set up exchanges that are about important things like carbon dioxide in the atmosphere and sequestering that how do you do that and how can you I mean that's something you can actually do without having an artifice our ranch sold some of the very first carbon credits ever and you know 50 percent of that was brokerage fees that was just ridiculous the money that we were gonna get 50 percent reduced by brokerage the brokerage had nothing to do with that it was between the consumer and us the producer and that's where that exchange should occur that's interesting yeah I also personally am very fascinated by how we could apply this technology to solve environmental kind of like comments problems issues so I used to cover that as a journalist anyway okay last question just general question what do you think of a theory because there's an aetherium hack what do you think of a theory em you know I mean I always say I make not completely agnostic about all the wonderful new and wonderful technologies obviously aetherium is an important one right now you have the second or third biggest capitalization is its second second $250 or so effort for one ethereum unit is that right you know I don't even know can somebody 60 do I hear to 60 to 70 I do not do 80 to 80 to 88 okay look the way that value is conveyed you have a stake in because your aetherium developer from our perspective it doesn't matter that much what the ultimate way that value is conveyed as there can be many I think that there is already value you know significant value being conveyed through aetherium that's why there's a developer ecosystem around a theorem you wouldn't be here if it had the 15th largest cap you'd probably have a small group of maybe 12 of you here so it directly inspires the economic ecosystem around development so that's exciting and fun but obviously we're completely I'm agnostic you know about what happens but it's exciting to see that the value of ethereum has driven such a large development community to develop innovations in this ecosystem yeah and I guess what I'd say about if there mu you know when when we started seeing the icos and various things Bitcoin and others coming along it was easy to sort of say well this is going to be speculative a lot of volatility really don't see the application and they can start to grow etc etc when aetherium entered you know suddenly you're saying oh wait a minute I understand where this really has practicality then you can back you know back test that against the other Kryptos but but what's really cool about aetherium is it really did open the way you know you were talking about tidal chains and things like that it's extraordinary what aetherium sort of opened up in that in that respect all right so I don't have a watch on is that thirty minutes yes oh I have like really good spidey sense I think it's from doing the podcast so much thank you so much governor Poulos and governor Gordon big round of applause please thank you hang on guys hang on hang on we have we have special guests to express our appreciation we have some some special guests so is one of the features of e10 where we actually offer complimentary childcare so one of the things that's important to us is to eliminate all economic barriers and all things that might get in the way of somebody being able to come and express their creativity and learn about this crazy decentralized future so we have some gifts if the kids from nano want to come down here they come in the cart and [Music] I've heard that we actually have a special guest he might actually be above a corn in the house there might be one let's see if we can call him out can I get a Biddle can I get a Biddle Oh can I get a bit oh all right let's go Buffalo and come on down so we have some gift baskets for you guys it wears do we have third one one two three and one for Laura please can you bring up Laura yes please thank you bring it up Laura thank you for coming so we're kind of known for the buffa corn stuff there's like pajama pants and socks yes like these and the thing that we're actually most excited about is the kids have a specific present they'd like to give you and actually you're giving it back here you go so B is for buffa corn was written locally and a portion of the proceeds of the book were actually selling it at the store here are going to an international charity called room to read which focuses on literacy reading and writing for children all across the globe so the kids were wondering if it would be okay if you read a little bit of the book to them okay and we actually have a special guest in addition this is the merging of two worlds we believe there's a lot of partnerships and opportunities here so our friend Vitalik deuteron has offered to come and read the book potala come on up so if you'd like to go ahead and have children parents if you'd like to come over here Laura thank you so much kids have a seat governors in vitalik go ahead no no the kids on the floor I don't think the governor's in Vitalik are gonna sit on the floor alright come on guys sit on the floor please I have a two and a six-year-old I sound like it don't I okay so we're gonna go ahead I'm gonna go ahead and exit over here the buffa corn hello there he goes okay but talent come on in and let's governor Poulos there's a microphone for you shall I start on page one where it says this book belongs to now a is for attestation sign a message with your key it's been fully certified with pure Glee B is for buffer corn a fantastical creature on rocky peaks collaborative by nature they're truly unique c is for consensus will prove the work to agree that a chain is kept in harmony d is for decentralized out to the edges information is spread with greater wisdom we forge ahead e is for ether it pays for gas it runs the code don't hype it too much less charts explode f is for finality from proof of stake it gives us shards so splitting blocks will scale a spar G is for gas a transaction is paid for with units of gas give them EVM to little and it may not pass H is for hash math which eats the data mix that just sit well and makes it fixed I is for IC o---- scams beware and IC o---- is here altcoins all over the SEC to fear Thank You governor Polar's for reading that part [Music] J is for just on our PC how can you ask for chain data for free oh I know by sending some JSON with a porp C K is for key pair a private key is you must protect but spread the public it's a great offense l is for light client lighten the load for a phone or a PI less we here its CPU cry M is for mesh network link our homes with invisible threads one step closer to a stronger web n is for node a computer which runs some special code it connects all over and shares the load o is for open source software free to use free to copy no license abuse or code to sloppy P is for pig a buff a corn try that again make a buffer corn they soar the skies with flapping wings great fellows are heard Badou they sing Q is for query ask a machine to see its data a query will give it unless it's beta r is for relayer repeat a message far and wide the job of a relay er is not to hide S is for stable coin stable coins at Value store they truly are to dai for die for t is for token just a number stored in a map new economies they will bootstrap you is for UX that first feeling when you see the screen the nest of it hides unseen V is for validation we check the Peru and watch for goofs validation is here to find the spoofs w is four weig the smallest unit of an ether a floyd or a decimal no silly it's neither x is 4x or computational gates on the smallest level through which logic runs on bare metal and y is for Yolo Hodel no more less research Gobert a whimsical bag is dropped with care said is for zero knowledge it need not be seen to be believed with special math a truth achieved [Music] [Applause] and that's the new way that kids learn the alphabet thank you so much that literally made my Thank You governor [Music] you