[Music] All right, we are ready for our next session. And for this one, I'd like to bring on Francis to tell you about how we can actually bring in a lot more of the traditional finance world into the world of web 3. So, please give Francis a big round of applause. Okay. Thanks.
Thanks. Yeah, man. Thanks for invite. And today I'm going to talk about the topic. Yeah, maybe against the builders here because I'm going to talk about the the I think is the key point of Hashki chain is about compliance.
Yeah, I think uh lots of people will don't like this words because we come to this decentralized world. what we want to do is against a compliance in some way and so as I want to say is in the past where the people in of our industry was uh we are all live on the same noise arc and we don't have much people on this ship and we can find treasure everywhere because there are no many people join the ship and the the the has lots of treasure but currently the things change because uh the environment not just the the economic envirance and some other will some other just strategy will influence our uh just like surprise our treasure. So we need to fight together we need to collect uh it's really important for us we need to collect our strengths to face the storm. So just like America Captain America said we need to do it together so we cannot just go with the waves took us too. So we need to be become to the houseman of this shape.
We need to control the direction. So that's the problem because uh in the past to be honest I'm always I'm still a believer of decentralized and I'm also the believer of the uh crypto but but currently the same changed. So we need to go back to saying the passion that led us to this industry. The first is the crypto spread and next is we believe that your case your sets and the more important is we want to create the more efficient financial infrastructure and permissionless innovation for products and most important that me to join this uh this industry is because I want to help more people to create uh the quant to go the without any permission and uh verification because like uh The biders in industry they will travel around but sometimes you need to create account of some some country you need a lot of the verification just like a bank statement your ID verification your passport you need a lot of the process need to do so what we want to do is we want to reduce the the time cost of the creating accounts and the last one is we want to create an efficient financial system to benefit every corner of the world you know during during this time there it it still exists lots of people they use ATM to trade it ATMs because they don't have uh stable currency and they don't have a bank account. So that we and we go back look at that is that is the passion that led us to the industry but uh during this period we we do change because we focus on this.
Anyone know the meaning of the the the pictures? Yeah. Yeah. We create lot of memes. It's it's because it's really against what we are we're trying to do.
I think it's weird and I think the our industry some something in our in our industry is out of control. So okay let's go but I do think me coin got its value because they it is good saying to to be a carrier of the community with the people who have the same uh so how do I say that the culture consensus but I do hold that the the rel of the gibli the British famous recently. So I think that memecoin is good but the last span of memecoin is is become horrible because in the past the memecoin just like PP maybe they got the same consensus for maybe one years or two years currently it's just shorted to maybe a month a week and maybe just currently I think eight hours is the longest meme coin last and some of our users just come to me to ask me that uh I think it is dangerous in your industry Because you can be a hero. No, sorry. You can be a zero to hero in maybe two weeks, but you can be a hero to a zero just two minutes because maybe someone drunk, maybe some some horrible things exist.
So we need to Oh, sorry just a kept secret. Yeah. So but but still some user they are trying to follow our upgrades but they don't join the industry. I recently talk about this update upgrades of the serum and surprise uh upgrades. It's a talk about the EIP702.
Uh it is importance. Is there anyone lost their money because they forgot the private key or just forgot the 16 uh vocabies before? Yeah, I can say so that is the huge problem I think that that lots of user don't want to join in this industry because they don't want to remember and it is really hard to remember the 16 ordered uh random randomly vocabulary. So the thing that that is the most important uh upgrades of the EIP is a lot more people could want want to join this tree industry and they don't worry about it or lose their money because they can use their social media to recovery their coins and second one is you know uh I'm from Hashk chain and our gas token HS is HSK maybe sometimes you want to do the transaction on Hashk chain but you don't have HSK as guest token so You need to go to the SAS to buy the gas token and you need to send it to your accounts again uh again but you you'll face a problem when when you finish your transaction you find the gas token is increased you need to do this again again and again but during this upgrade they don't need to worry about that because uh they can use some some other coins that you have maybe USDT maybe USDC maybe Ethereum to pay your gas token so that is the I think that is satisi satisfied what we want to do is we want to create more efficient financial infrastructure and the other things I think you need to help us to protect our stat security security. So what what we want to do is what hash it do and do is trying to build trust with users and rebuild trust with the users who has leave this industry.
We we will tell them we are stilling we are still trying to create the stable and if more efficient uh financial infrastructure not just the me coins and we we just want to find the easiest way and we found a more efficient way to build trust with users is is support cooperate with the complian compliance institution uh because you know in the past how do we in uh introduce our sides is it is security for the users who haven't joined this industry. We will tell them lot of the technology and technology concepts just like what is pudas what is peep and what is not safe but after the baby events wait maybe it is not security yeah and what is a a coin abstraction what is the in the future we will support ec256 r1 it is hard to understand for the people who didn't join this industry who didn't uh learn about computer science learn about math But in you know if you uh save your money in the bank, how do you trust the bank? You just need to trust the compliance institution. Yes, it's safe. They will pro protect your uh it will protect your money and when someone hack this system someone will pay you loss.
So you don't need to worry about the the bank. You just need to worry about your information is correct. Maybe just more than I think at more at most three hours we can finish the form with your information and you can recover it by your maybe your phone number your passport your ID but this the the the people in the web three how do they understand the assess is safe they need to understand lot of the definitions yeah just like the what is zk what is me what is the corn abstraction lot of the technial technology concepts I I don't I think if you want to know your assets in your wallet is safe, your transaction is safe, it will take more than three months to understand all this technology. So that will let the user to confuse about where is my money and how to understand this. So we we do want to reduce the learning curve of user to draw this.
So that oh sorry this picture that shows that that we were always against what we want to do and what the beginning of spread of the blockchain. So that is what we want to do is I think has good good way to reduce the learning c of wallet is currently and what we need to do is hashk chain is trying to use compliance as a service. Yeah, people just needs to trust the compliance institution is safe. Someone is still keeping your assess safe and they will uh and the next part is the onchain insurance. Why we involve insurance join on chain?
Because uh at at the second step is you know someone is protect your money and the next step you will know if there something bad happens who will pay your loss that's most important and after that you will go the liquidity and global market improve. So what is the liquidity important? Because if people trust trust this chain or trust this uh industry they will put more in. If you got more more liquidity and more money in this market, uh for example, if you doing the defy uh action, if you got more more money in this uh DAX, you will get the lower slipage and they can use the liquidity to do to do more useful things. Just if you got more liquidity, we can do a per DAX, we can do a lot of thing.
If people trust you, they will put money in and we can do a lot of the DFS to do more innovation and after the cooper with the compliance just like Hashik has already cooperated with compliance the the builders of the blockchain don't need to care about how to tell the users your assets safe. We just need to focus on what we are best at is we are best at how to uh improve the performance of the projects. maybe to the UI US maybe the spade maybe the translation spade uh maybe the security but we don't need to explain it to the to the users compensy institution will do that another thing is we just need to focus on the innovation in the past uh not not just past I think currently people are afraid of the innovation of EVM because uh once the innovation exists people will say uh when I put money in this uh innovation products they will work. So after that after we cooperate with the compensation institution your innovation projects will be trust by the users because someone help you to do this. Okay.
As the last I think to cooperate with the compliance is not just it's it's not about the arrival. I think it's but uh about connection or connecting with the real users. We're connection with the market to let more people to trust us to join us. Yeah. That's all.
Thanks. [Music]
Automatic transcript — names and jargon may be misspelled.