The platform for future crypto superheroes | AMA with Partisia Blockchain

Imagine a new Internet web 3.0 designed for you 20 years in the making from a global collective of change makers. Giving you an alternative that is neutral, privacy preserving, giving you ownership of your data, equitable and inclusive. Fighting corruption through fraud detection, open source. This is Partisia Blockchain, a new trust paradigm providing state of the art blockchain infrastructure for the greater good. We are creating a brighter digital future empowering people around the world. Making it easy, affordable and accessible to use blockchain technology.

Hey everyone, what's up? It's Rachel here. Thanks again for joining us for an A today I'm here with Partisia Blockchain. I'm super excited about this AMA and I am joined with, I am joined by Kurt Nielsen, he's the president of Partisia Blockchain Foundation. Hi Kurt, how's it going?

Hello, nice to meet you. Happy to be here.

Nice to meet you. Happy to have you. We're also here with Brian Gallagher, he's the co founder of Partisia Blockchain Foundation. Hey Brian.

Hi Rachel. Thanks for having us tonight today wherever you are.

Right, thank you. And Yulia is the newest addition. She's the new CMO of Partesia. So welcome Yulia, thanks for being here too.

Thank you. Excited to join the team.

Wonderful. And audience, before we get into the questions with the team here, I just want to remind you to drop your questions in the chat. Everyone joining us today is here to answer those questions. So great, let's get started. Kurt, first question is for you. What is Partisia Blockchain and how is it different from other networks?

Yeah, thank you for the question. I hope the connection is good because I'm actually on my way to the world Economic forum and I'm in the Alps. Not a lot of good connection here and wi fi. But anyway, Patricia Blockchain is really all about privacy. So the team behind Patricia Blockchain have a long track record in as pioneer in privacy preserving computation. And with this project we're bringing all of this expertise, the software and the the team what the team have to bring to the blockchain. And along the way we develop also a blockchain that is a fast scalable state machine and we also implemented a interoperability that makes this network suitable for a multi chain reality.

Great. And now Kurt, I know the mainnet launch is coming up on May 31st. Can you go into a little bit of detail there for us?

Oh yes, this has been a long way. We have been working on this for a very long time. And this is the version number three of the network that we are launching at the end of this month. It comes with this. We are sort of in the process, we focus on these three things, which is the scalability, its privacy and its interoperability. And we are bringing all of these features with the mainnet. If I should dive a little bit into this, we have the scalability issue, which is providing a faster consensus. It's also a very scalable and fast execution of a transaction in the network. Whenever there's transaction going into the network, you execute them directly. And this is super important and something that we were forced to design in order to make this network or blockchain to work as a state machine for privacy preserving computation, or also known as multi party computation, which is the privacy part. And that is probably the most innovative part because this is not just about zero knowledge proof or key management, it's about general privacy preserving computation, which means that you can come in, you can run any computation, but on private data. So it's almost the second half of the network. So you can come in with working on public information and working on private information and you decide, or you decide when to do public or private coordination of information. And the last part is that we want to bring this to the, the all of the ecosystem. In order to do that, we are aligning ourselves with the rest of the world by doing a bring your own coin functionality, which means that when you come into the network and use our privacy services, you actually pay with external coins. So when we are partnering with Cardano as an example, we integrate with ada, so people are paying with ADA coins on Patishi blockchain and they get the privacy preserving computation on the Cardano network. So that's kind of almost a second layer alignment that we have. That's kind of the three sort of main features that comes with the network scalability, privacy and interoperability. That's what comes with the first version of Network.

Yeah.

So given those three features that you just explained, can you kind of discuss what the main goal behind Partesia is? Because it sounds like obviously privacy is a major element here, but if you can just elaborate on what the main goal behind network really is, that would be helpful.

Yeah, but that is basically the main challenge is to bring privacy to the blockchain ecosystem. And this is not a small thing. So you can imagine like the entire Internet economy with privacy that actually allow individual users to reclaim control of their own data, which is basically pulling out the carpet under the existing Internet economy by now being that the people are the actors are forced now to bring in the end users and actually make them a stakeholder in the, let's say the advertisement business and any other businesses. And you can have services like healthcare services where you actually bring in your private data without compromising security or privacy along the way. So that's a full scale use of the privacy component. But the privacy component also bring in a new security paradigm like for making more secure bridges. And that's what we're doing for the bring your own coin. So this is also a more secure bridging of external coins into the Patricia blockchain. So it's not just about computing on private data, it's also about securing the interoperability.

Got it. Yeah. Well that's really interesting. We've already got some questions from the audience which I'm going to go ahead and take real quick. Pawal is asking, can you explain more about how this will be decentralized?

Yes, it is. So what we're basically doing is that we are merging traditional blockchain with multiparty computation and both of these technologies are distributed cryptography. So it's no single point of trust and we're bringing them in as a unified network. So it is decentralized by nature these two technologies and we are basically merging these two at a very sort of fundamental layer. That's basically what is going on in the network.

Got it. Okay. I'm going to take one more question from Pawal before I go into my other questions. Pawal is asking who is Partesia's main competitor or maybe we would rather cooperate with different chains.

Yes. So we designed that. Let's actually go back to some of the bring your own coin and the whole strategy about being a collaborative network where we align ourselves with our partner networks. So we really see ourselves as a pioneer in privacy preserving computation. And the whole design and economics in the network allows us to align ourselves with partner networks. And I don't see any other networks out there that is doing the full general privacy on blockchain as we do. There are of course since privacy is a super important feature, there's a number of blockchain that is doing different things. Some are securing the transaction and they're doing roll ups with zero knowledge computations proof and they're doing a key management with also based probably on npc. So these are sort of a limited use of this technology. So here we bring in the full package. You can say got it.

Okay, wonderful. I'm also going to take. We are getting a lot of questions. So I'm just going to take one more real quick just to, to kind of be a little bit more specific about what bringing your own coin means. Someone is asking, Tej is asking, does that mean there will be no bridges?

Oh, there is bridges and there's an all new type of bridge which we maybe go into if we just quickly sort of sketch the design of this because it's actually go back and have three basic elements. The first one is a double bookkeeping system. So you have a mirror because you're moving values from one chain to one network to another network. And so you have a mirror and one to one bookkeeping across these two different blockchains. And then you have a staking mechanism and the staking is run in smaller time periods. So when the, when the nodes they run out of stakes the bridge stop and you have new people coming in and operating the bridge, then you can go back. If there is any inconsistencies, you can go back and run a dispute so you can actually get your money back. In case of a, of a, of anything going wrong in that period where they were running the, the bridge. If no one claims. And it's very easy to see if there is any imbalances because it is this double bookkeeping system. You just go in and you claim your razor dispute. The last part is that these bridges in epochs are run by a small subset of nodes. But the selection of these smaller subset of nodes is done by the entire network. And that's why we bring the security level up to the highest level of the blockchain where you need 2/3 of everyone to sign off on the selection of these nodes running the network. So you're moving from something that is at the highest level you can have on a blockchain and to something that is financially secured by staking. And you are making it very transparent what is going on in the bridge. So that is an all new type of bridging.

Yeah, that's extremely interesting. Now I'm going to shift away from that topic to another question real quick because this is also very interesting to know about if Partesia has any apps planned for the near future. Yulia, maybe you want to take that question.

I think I'll let Kurt give all the details. But actually it's the apps that got me here that got me super interested and excited about Partisia's future. I think the Partisia with its multi party privacy layer can solve uniquely for some big world problems that the legacy blockchains cannot do. Because of the lack of privacy or the way they actually address privacy right now. And there is a commitment that Partisia has taken with the United Nations Sustainable Development Goals that has been basically driving the agenda of the apps that are being implemented and the use cases that we go out with. Maybe Kurt, do you want to expand on that?

Yeah, I can definitely do that. So yeah, as Julia mentioned, the flagship project that we are doing on the sustainability development goal is, is an important one. So just to mention a few of these. So we are doing NFT based fundraising with Red and Global Fund. We're doing addressing counterfeit medicine in developing countries with a company called Original. We are developing monetary, humanitarian monetary aid system. Still confidential with whom. But this is a very significant scale where you move money into an unstable economy with advanced security where privacy is super important and you basically give money in the hands of vulnerable people so you need to keep them safe. And we are doing, and that's actually why I'm here in the Alps to announce the partnership with the Cyber Peace Institute where we are using the technology, the privacy to facilitate a confidential intelligence sharing to better battle cybersecurity to breaches also across NGOs so at an early stage you can share your intelligence with all your NGO friends and be better prepared for what is coming. And finally we are working on self sovereign identity and a privacy preserving version of that. So that's some of the flagship that we're working on.

Got it. Wonderful. Brian, if you are back with us, I had a question that I wanted to ask you and if you're not there, Kurt, maybe you could answer this. I know that Partisia recently partnered with Binance Charity and NFT for good. So I'd like to know a little bit more about the details there. If Brian, Brian is with us, that would be great for him to take this question. If he's not, Kurt, feel free to jump in.

Yeah, it would be great because this is Brian who has been following this project closely. But of course I know some about this. So the whole idea behind it is that you use NFT for fundraising. So you basically start with a piece of art and you have people buying that piece of art and the proceed is going to a good cause. In this case it's about COVID vaccination and that NFT is now turning into a fundraising story so someone else can buy that NFT and some of the proceeds goes back to the Global Fund again. So you're now turning a piece of art into a fundraising story using blockchain technologies. Which is quite exciting development. And we have been working with RED and the Global Fund for. Actually, I'm not sure if this is four or five months. It's been a long and very long and very interesting process. And it's just been. I mean, I know. And that's why. Very good to have Brian, because I don't know the actual number, but I know it was sold out in very quickly this morning. I think I don't have a recent number because I've been traveling.

I can jump in. Brian. Within two hours. Within two hours we had 25% of the NFT sold.

Fantastic.

And this is the partnership that you did with Binance Charity and NFT for good.

Exactly, exactly. So a lot of people have been involved in this Binance Charity. The Global Fund was using money at the end. Red, who is. We have. Who is our closest collaborator on this, something called gaba, who do the vaccination and. Yeah, that's.

Oh, I was just going to say Red. Can you explain what RED is for those who may not know.

So RED was actually funded here in Davos in the Alps like 15 years ago from. It was the. It was Bono from U2 who started the foundation and was all about combating AIDS and HIV and was sat down and they had a collaboration with the NGOs like Global Fund from the very beginning. So this is really an extension of this and hopefully there will be more. I mean, this is the new rock and roll way to do fundraising. So I'm sure this will. This is a good fit for it.

Right? I mean. No, that's amazing. And I agree. It could be the new way for fundraising for sure. We're getting a lot of questions, so I'm just going to take some of those from the audience. Bass is asking, what kind of partners are you looking at and what kind of industries are you targeting? It seems like a lot of this is, you know, blockchain for good. So Kurt, maybe you can kind of elaborate on.

Yes. So maybe going back to what we actually do in terms of go to market for the network. It's actually three different things. The first one is the focusing on cross chains operations. So that goes back to us being a provider of privacy preserving computation and doing the bring your own.

Is kurt frozen? Julia? Are you. I don't know if I'm having some troubleshooting on my end or if Kurt just froze.

Yeah, I'm sorry.

Okay.

So yeah. In terms of partnerships, just a disclaimer. In the beginning. I only joined three weeks ago, so.

So.

Oh, Kurt. Is back. So.

We'Re having a little bit of technical difficulties. But Kurt, continue please.

Can you hear?

We can hear you. I don't know, Yulia, if you want, if you want to jump in or if Kurt is going to, you know, I don't know when he's going to come back. But Yulia, if you want to explain the partnerships, feel free to take us, you know, to do that until Kurt returns.

In terms of partnerships, I think that the most visible right now is our partnership with Cardano foundation behind Cardano and we are actually working on a few similar partnerships with some of the largest layer 2s and layer 1s in the world. Besides that, we have the use case partnerships with the United nations ecosystem of partners and those are all things that we are working on for our flagship projects.

Got it.

Sorry. Probably I fell out. I don't know why you lost me.

But Yulia was just talking a little bit about the partnership. She actually, you know, did a great job explaining that. So I think we'll just go ahead and unless you want to add anything, we can move on to the next question. There was actually an interesting question I saw from the audience which I wanted to take. HODL 2017 is asking how many tier one exchanges do you think Partisia Blockchain will be on by the end of the year?

Yes. So we are not talking about these financial measures and what exchanges we're going to list on. Clearly there's a lot of work going on with exchanges and getting the token listed and that's include tier one exchanges as well for sure.

Got it. Everyone is probably very excited about that. More information will come on that. Kurt and Julia, I also wanted to ask you both about if it's been challenging or if it's been relatively easy to use NFT NFTs for good. This is kind of a new use case and so I'm just wondering how that process has been.

Let me start with something with a correction of the things I just mentioned. Brian actually corrected me when I said that we sold 25% of the NFTs in two hours. I was wrong. It was in two minutes. So the pickup that we've seen from the market is extraordinary. I think that there is still accessibility issues that have to be addressed and of course things can. We'll be getting better and better all the time. But I think that this pickup and interest and then the trust that comes from seeing partners like Red and Partisia Blockchain coming on these platforms with this proposal is just going to contribute, not just to our success, but to the overall crypto industry.

Right. And I mean, based on that, just going back to my next question, I mean, selling out in two minutes. I mean, that's amazing. Do we think this use case of using NFTs for good, has that been relatively easy or challenging? What are your thoughts on that? You know, both Kurt and you, Leah.

I think that, I mean, of course there's a genesis in how to do this and also in bringing in traditional NGOs into the blockchain ecosystem system and understanding the possibilities and limitations and make sure that everything is done correctly and according to financial regulation in various jurisdictions. Like the thing that you always work with as a. As a blockchain network. But this is probably why we spent so many months to want to do this absolutely. Right from the beginning. So the key point is that it's absolutely doable to do this the right way. So I think this is really paving a way for doing fundraising for good courses in a different way.

Definitely.

I think maybe one thing, if I can, because I forgot to tell that, because the whole NFT is also about the enable, also like a vehicle to bring back information about the use of the money. So that's usually one of the issues when you do, when you help, what did the money go for? What did they spend the money on? So this NFT becomes these fundraising stories. So you actually have the usage of the proceed built into the NFTs. So it's a way for the NGOs to communicate more directly with the donors at a very large scale.

Right? Definitely. I think the whole transparency aspect adds a lot to that use case. That's a really good point. I'm going to take another interesting question from the audience. You guys are great. Keep sending us your questions. These are really, really good. Clearly, there's a lot of interest in Partesia. Taj is asking, does Partisia Blockchain introduce any new coding language?

Yes. So it does and it doesn't. So we're using Rust and what is called WASM as a smart contract language. But the whole mission of the project is to bring general privacy to blockchain. And to do that the right way, we need to extend the existing languages. And this is what is in the roadmap to gradually develop these smart contract languages to capture all of the things that you can do to make these privacy serving, computation run efficient and secure. Because this is a very sort of highly technical. So you really need to do it right. And for us to deliver that expert knowledge into the system, we need this smart contract language that prevent people from making mistakes when they use these advanced protocols.

Right. Kurt, just based on what you just said, I have a question that I wanted to ask. How does Partesia plan to educate its users on crypto and blockchain? I mean, the coding language. That was a great question. Are there any platforms or any content platforms that you guys are launching to help educate users on the network?

Absolutely. So we're building our own network of developers. So we're taking the first steps now. And us being live with the network, we are switching the focus very much towards helping people develop applications on top of the network. We having the number of hackathons, we have the first one during the summer with the SGG summer school in Geneva. So this is also again a collaboration that points back at the sustainability development goals. And we're having a large hackathon in Copenhagen in September. And then we take it from there and we work hard on improving all of the documentation. So it's at the end, people will come in and they will be able to look at the examples and look at the documentation and come up with even more creative ideas than we are able to and develop applications that we didn't even think about. This is really one of the interesting things that we are looking forward to, to see the network think beyond what our imagination allows us to.

Right. And I know that there's a launch pad. Can you kind of discuss that and what projects are coming on to be developed there?

Yes. So some of the project is pointing back at some of these traditional defi solutions, but we add into defi with the privacy. So we have been working, for example, on financial order matching for a number of years and this is a solution that fits nicely into the blockchain ecosystem and a different way to trade crypto assets. And you could do it with private order books. So this is continuous, continuously matching these. There's another project going live on day one, which is called the Better Internet Search. So this is pointing back to this, the main driver of the Internet economy, the advertisement industry, where they're building a ad free search machine, or not completely ad free, it's actually a user controlled advertisement machinery, I guess you can put it that way. So you have your Persona in the system and you get advertisement that fits your Persona, but you are private in the network and you even get rewarded. You get rewarded as a data subject in that data economy. And this is really pointing back at one of the biggest drivers, maybe when you can reclaim control of your data. Think about what you could do with the whole thing with the current Internet economy.

Right. Kurt, you really make a great point. And actually you answered my next question from the audience because NS was asking about use cases and if users will be able to get paid for their own data instead of third parties who currently do. That's huge. I think that's a really important topic. If you want to elaborate on that, Kurt, about how Partisia allows that, that would be great.

Yes, that's basically Berlin. One of the other big projects that we started from the beginning was the collaboration between with Brian's original firm called Inside Networks. So it's called Instars today. And that is the first example of a data exchange where the users are in control of the data, so they bring in data and the remaining control of the data while the data is used in a data economy. And in this case it could be like surveys where the data goes into surveys or people respond to questionnaires and their responses remain private, but the aggregated result is sold to the to the people that sets up the questionnaires. And this is just an example that you could take a lot further where you basically have people in full control of the data. And the network allows for this because it's allow for generic use of private data. So you can have a number of small smart contracts sitting in there ready to activate your data wherever it is and put that into a context. Whether that is for selling yourself as a data subject in advertisement or it's for healthcare purposes or banking business or insurance businesses or whatever it is. This is kind of one of the main drivers that the network allows for this type of use and control of data.

Right Kurt, it's really interesting and I just wrote like I published it today, an article about gene NFTs and how a genomics company is leveraging NFTs to allow users to actually own their data and to benefit when they're participating in clinical trials. And so what I wanted to ask with cartoon Will there be partnerships with enterprises with traditional companies that we see today using the network to create these Web3 models like the genomics, the gene NFTs that I just mentioned. Because I think that's extremely interesting to see that shift from the traditional to Web3 models using networks such as this?

Absolutely, I'm pretty sure that will. So already today we are collaborating with a number of large companies. So this is not exactly on the blockchain. Today some of these services could be used on Patricia Blockchain, but today we already have collaboration with large companies like Roche and Lundberg and Novo Nordic. So in Denmark, where most of the team come from, there's a lot of pharmacy companies and we're collaborating with them. And some of this is also about medicine and about genome DNA sequencing and telemedicine and sort of using, finding out what is the best fit, what is the best treatment for a given patient. And when you have that type of analysis, you can bring that into the economy and you can have millions of people using that and they can use it confidentially through zero knowledge computation. So I think what we are already working on today is a starting point for bringing this into an economy. That petition blockchain is providing.

Got it. Yeah. I think that's really, really interesting and I'm excited to hear more when Those announcements come. HODL 2017 is asking how will MPC holders be able to get involved in launchpad projects?

Oh yes, yes. So this would be more structured as you move forward. Now we launch the full network, but always today you can sign up. We are having social networks where people are meeting across applications, sharing experiences and learn how to work with the network. And this is the work that we are going to expand on moving forward after launch of the network. So. Absolutely.

And Kirk, can you explain what MPC is?

MPC stands for Secure Multi Party Computation. So secure is not part of the acronym, but multiparty computation. And that is really the basic technology that allows you to compute directly on encrypted data. So it's a very fundamental security model that it brings. So basically you have data consisting in three different stages. Either data is sitting, is at rest or it's in transit from A to B or you're using the data. So it's relatively simple to find security solution for data at rest and in transit. But when you use the data you usually have to point someone is doing this, processing the data. But that's what MPC does, it's processing the data in encrypted form. So this is now a completely different security model on how to disrupt what is known as a trustee in the economy. A person, an institution, as someone that you appoint to handle confidential information. So you actually have a digitalization of a trustee. And that's point back to very sort of the basic driver. So you have the basic blockchain that is allowing you to make trades because you now you have a common understanding of what is the state. So you can, you can make trades without knowing each other. And now you can also coordinate private information without, without any third party that is in control of the data or that everyone Trusts. So these are the two basic value propositions that the network as such is providing. I can see we have Brian back.

What a journey.

Thanks for joining us. Yeah Brian, I know we're almost out of time, but did you add any additional comments to the conversation? I mean we've, we've already discussed a lot or anything that you think is really important to point out.

Yeah, unfortunately with the connection bouncing me out I didn't get to hear the majority of the discussion. So I hope I'm not repeating too many points. But yeah, I think in the beginning Kurt sort of alluded to the core value proposition and you know, I just want to sort of talk about the built in network effect of partisia blockchain. We're a layer one plus two architecture but the layer two just means that we provide this private and confidential layer to other blockchains. So he mentioned that we partnered with Emurgo and the Cardano network so we can roll this capability out to the Cardano developers. But on Thursday we're announcing another huge top 20 network that there's an integration for that launches in June. So basically the goal here is there's three sort of go to market verticals. So the one is linking up our privacy contract to let's we. Our goal is to have 10 of the top 20 networks within the first 12 months. Then we have our launch pad. So we have some projects like a privacy preserving search engine that's deploying a partisia blockchain and counterfeit medicine detection network. And so we're going to bring in them on a launch pad and help them get the project off the ground. And the third aspect is we actually take a bit of real development work with the big flagship projects. Like one massive, massive project we're working on is a trade fi gap project which aims to basically create a supply chain network where users can basically post their collateral on their international shipping between vendors. Typically the old world system you have a bank post a letter of credit. So it's kind of, it's a $1.7 trillion a year problem of people who don't get paid on international shipping. So basically you can post smart contracts in our private smart contract environment. You could have two vendors collateralize USDC or USDT or MPC tokens, whatever they choose. And then basically you can have then this open up to an entire defi economy where anyone can LP a deal and post a letter of credit that typically only the banking system could participate in and get yield. So we're, we're sort of working on. I know Kurt mentioned the private stable coins working on some big economic problems with Partisia blockchain infrastructure. So this project's very serious and it's going after real world use cases that aren't being solved yet by blockchains. But with private smart contracts and scalable blockchain layer one infrastructure, you can really put a dent in these major economic problems where $1.7 trillion a year doesn't get paid and mostly affects small and medium enterprise. So even tapping into just 10, $20 billion of that trade, which is such a tiny amount, makes a huge impact. So that's what we're here for, is to deliver really impactful use cases. And so we do put a bit of custom development work into helping make sure those bigger issues get deployed properly. So that's. That would be my overall overarching statement about the project.

Yeah, well, first of all, that clarifies a lot. I think that's a great statement you just made and helps us better understand the project. I did want to take one last question from the audience before we end the AMA here today. Brian, do you think that Partesia can solve the blockchain trilemma?

Sure.

Can you explain what the blockchain trilemma is?

Yeah, absolutely. So when we started doing research and development on Partisia blockchain layer one, we started from a point of what currently doesn't work well ON Ethereum or EOS, which in 2017 were the sort of dominant, like big name blockchains besides Bitcoin, you know, application layer blockchains. And the blockchain trilemma is a term I think Vitalik Buterin, one of the co founders of Ethereum came up with, which basically says there's three core issues that a blockchain has to confront. One is scalability, security and interoperability. Or maybe costs is in there. So basically you need a blockchain that's fast, it has an affordable cost to use. The reason that you know, this is a problem on Ethereum is it's a bit expensive, it's a bit slow, same with Bitcoin. So we had to address scalability and cost and we did that with Sharding. Sharding is basically a way to spread transactions out across shards. They can happen at the same time. Whereas on Ethereum or Bitcoin if 100 people put in a transaction at the same second from anywhere in the world, it goes onto a basically a queue, a list of 100 transactions and then they just one by one clear them and if someone comes in and pays a higher gas fee, the miners maybe will clear that guy's transaction first so you can get a big backlog and it causes issues. Everyone who's using Ethereum has confronted this. So we built sharding into the protocol layer to allow scalability. So if a million transactions all of a sudden pumped into the network, we could spread them out across shards. It's kind of like if everyone's waiting in line to get in through one door, you have to wait for the whole line to get in. But if they open 29 more doors you could spread people out and get them through faster. So that's how it works on Partisia Blockchain. Then we have security which is very secure, you know our nodes, the cross chain interoperability. We use MPC to do a sort of secure key management scheme which isn't seen in public protocols yet. So that's what you know, we sort of address the scalability, the security, the interoperability with MPC and sharding and then we're bringing privacy. So we're sort of, we view it that there's another big problem like international trade can't. They want transparent blockchain where they can post USDC collateral but they also don't want their entire supply chain being deconstructed on a public network. So to fix a one trillion dollar problem you need a level of privacy for the users. Because if you're a big company you don't want your whole supply chain being viewable on a public chain. But if you could coordinate that in a private smart contract then you can adopt the blockchain and see the benefits like posting collateral, more transparency, more, less trust in banking systems and more trust in code. So we see that we now are solving the next big issue that we can solve major problems.

Yeah Brian, I love that because when I got started in 2017 as a journalist in the space, it was all about private networks for enterprise use cases. And then the story shifted to public networks. But like you said there's still that issue which is these enterprises want privacy but they want the benefits of the public networks as well. And so I think you just sum that up really really well. What Partisia is doing to ensure that.

Yeah, that's exactly right. And we, you know, we hear the feedback from the enterprises, they say a lot of them already deployed on private networks. Like you said, completely private, non public blockchains. There's no way to coordinate quickly and efficiently different vendors from all over the world. You might as well Use a regular database in the banking system because you don't really truly get the benefits. First of all, the usdt, the usdcs, those aren't available in the private network, so you're really just using a bank anyways. Even if you make it look slightly different the way that you finalize money transfers. But basically you also don't have access to the defi economy. So if there's a vendor network that can get verified and start building a reputation similar, you go to Alibaba and you can see all the different vendors, how many times they've done shipments. You can imagine a system like that running a partisia blockchain where you don't need to coordinate directly outside the system with that vendor to make payments. You can basically post it into the smart contracts. But then if you don't have the money for the full shipment and one shipper wants a bigger guarantee, you can open it to the whole defi economy. So anyone with wallets, crypto assets can participate and get yields. So it's a much more. I would say, you know, it's a much more. Maybe it's another professional use case of DeFi versus all the different types of lending pools and crazy things you see happening in sort of the wild West. It's the beginning of defi still. So this is a much more, you know, professional use case. But such a big market, it's hard to even comprehend how big that market is. And when you make that available to the early adopters who are used to slinging money around for defi for much less reasonable causes with structure and meaning behind starts to make blockchain technology really exciting and real. And so we sort of believe that by 2030 we'll see a full maturity of these types of systems.

That's extremely interesting, especially for me, because the technology side of things is really interesting when it comes to the enterprises. Brian and Kurt, just quick question. Are you guys going to be a consensus?

Oh yes.

Wonderful. I hope to meet you there. I will be there as well. And the project is so interesting. That's just my selfish question of the day. Now I know we're getting a lot of questions from the audience. Unfortunately we are out of time with Brian and Kurt. So before we end, any final thought thoughts, Brian and Kurt and then how can the audience get in touch with you?

Maybe, I think maybe one thing that we skipped along the way is also the blockchain, that you can automate things on the blockchain and when you have privacy and automation, you have the basic tools for bidding agents, for what people have been talking about for decades, like the 90s, how to do that, really digging didn't really materialize, and it's probably not materializing because data is your bargaining power. So there's no reason why you put your bargaining power out there for everyone to see. So it's kind of difficult to have your private data operating in private bidding agents. But with this technology, you can have your preferences for all kinds of things, whether that is for buying electricity or for looking for a match to your. To your DNA or whatever. It could be. You, you can have this sitting in private smart contracts doing that matching while being in control of the data, and you get some result back automatically.

Awesome. Yeah, yeah. For me, Rachel, SIAC Consensus. Then if you, for all the people listening, we are going to probably throw a side event during some time between the 8th and 11th, so we'll post the details on the artesianpc Twitter. You can check for details there and also find all our other links in our link tree from that Twitter account. But yeah, thank you so much for hosting us, Rachel. Sorry the weird connection stuff, but I'm glad I got to jump in at the end here, make a few comments.

Yeah, well, thank you both. And thank you to Yulia. And like I said, into the audience, you guys will be at Consensus, so they can probably learn a lot more there. And I just want to thank the audience for the questions. Remember to subscribe to our YouTube channel. We do AMAs like this all of the time. And again, big thank you to Kurt, Julia and Brian. You guys were awesome. I'm looking forward to seeing you at Consensus and the audience is probably looking forward to seeing you guys there as well. So thanks again.

Thank you for having us. Thank you.

Okay, bye everyone. See you later.