Bryce Paul, Constellation Network, Crypto Twenty Twenty discussed on CRYPTO 101
Host Bryce Paul and today I'm not joined by my compadres Padre Pizza Mind. He is M I a He's actually in Texas right now But we have a special announcement If you guys have been tuning in you will know that. We have the Crypto twenty twenty summit that we are hosting this is going to be January twenty nine th to January thirty first got over sixty of the biggest baddest baddest speakers in crypto presenting on their projections for twenty twenty with their projects are going to be doing all sorts of fun forecast. It's going to really really be amazing and the best part of it all is. It's free and it is online so go head to. Www Dot crypto twenty twenty summit Dot Com and register for your free ticket and we hope to see their today we are joined by two co founders some brilliant chaps this Benjamin Jorgensen the CEO and Co founder of Constellation Network and Materiel Goldman. Who is a CO founder and VP of Finance at Constellation Network Work Ticker Dag? Gentlemen welcome to Crypto one two one. Thanks bryce really great great intro. We like to keep the energy really high here because we kind of are operated in the most exciting space in the world I would say would you guys agree. I totally totally agree You know it's funny. We have a coin name for people that are so energetic in the space become crypt electricals. Ooh I like that what we call we call everybody here at ENCRYPT nation CRYPTO. WanNa one we call crusaders or citizens because we like to make sure that everybody is is included in this movement and on a mission so just to kick things off Muttiah at a high level. Why should the average Joe Care Care about cryptocurrency? Well person for almost. Thank you for having us here. Bryce it's it's a pleasure to be to be on your show and yeah why. Why does it really matter and I think cryptocurrencies are one of the most exciting developments on technological but also on a sociological level of our times? Right now and and You know if you want to be at the forefront then it always pays out to to pay attention to what's going on and that's just on a very broad scale and Ben what do you think what what what is so novel about cryptocurrency or Blockchain or in constellation networks case. The directed a cyclic cyclic graphs. which is kind of an analog to block chain will what does this all unable? Yeah Bryce I think it's a great question and I have apt to back with Matijas said there is a there is like a social movement. That's a huge component of crypto. That people don't really talk about because communities communities talking about the technology and they're in like how it works and what it does and describing the how and we stopped at think we stop. Stop to see what the movement is but how generations are coming together to to partake in this game vacation of a digital currency in future vision for what connected technologies looks like it actually becomes a very simple play up. People like to watch movies like blade runner that talk about this futuristic world that we live in and they love sci-fi Star Wars and how all these new technology's come to life so what if there's actually it would if we we've actually created this reality of a world That can be possible. And it's it's not. It's it's crazy to say this but we don't really watch like James Bond movies from the past you go. Wow that that cool new gadget. The James Bond has ask and then like ten years later. We have the same thing but we're actually living in so yeah. You know what what Constellation with the Dag that the DAG is just an architecture or directed cyclic graph and this architecture allows for a big data processing in the Organization of big data. And what what that really means. That's actually nothing novel. It's actually done in centralized computing or distributed computing systems and we're bringing it to the CRYPTO. Space Collect CRYPTO and blockchain. See Reality so you mentioned big data and that's something that we don't actually talk a lot about on crypto one zero one but it's something the thing that is so integral to the space into you know technology at large. Could you kind of break down. What is big data? Big Data is like everything data. Just call it everything big like. You're living in service being consumed by data just day in a very out. We put up so much. Data the average consumer Sumer puts out one point seven megabytes of data every second holy crap the average consumer will have four devices That are putting out they own Ford devices in roughly three years. That'll be the average across the glow that is so many data points whether it's like clicking a button on a website or its process senior credit card at the coffee store walking in the door at a store or buying something you're creating so many different data orients into producing using large amounts of data. And so we've we've all heard about artificial intelligence will. Artificial intelligence is like the food is big data and artificial intelligence is like the animal right and so how healthy. How healthy healthy do you WanNa make this animal right? He could feed it. A bunch of Junky. Feed it whatever you want or you could feed it like a lot of plants and it's going to be healthy and it's GonNa give big. The artificial intelligence is running our our world and it feeds off a big data. Artificial intelligence makes recommendations on what to buy on Amazon or it helps identify fraud on your credit card. Har There's big data produces odd insights of our digital world today and so I noticed A WE'LL I've seen you guys speak and I read your site and you know I see that you guys talk a lot about you. Know good data versus bad data and kind of like the Constellation Network being. I mean the the way to get good data and ensure that data is not bad. I mean what does that mean yet. I don't think they're actually. I don't mean to correct you. Bryce but there's there's actually really no bait bad data it's about validating data so when you look at data as valid versus invalid right so when you look at you could save added. Data is some the doesn't meet your threshold right. Ben Ben Lives in. San Francisco is in San Francisco shopping. Right now we'll that's not true. I'm actually in London right now. That's an anomaly. But yet I'm Ben Jorgensen right doesn't make bad. It just makes an anomaly. So what constellation kind of focuses on and. I don't WanNa get too in the weeds of this. But we're focusing on validating data that comes into the system right like it's terrible when we get a recommendation for some clothing line and it's for a female for female female and male right necessarily bad. It's just an anomaly. So there might be something wrong with the data that's coming in okay interesting in So Constellation is a solution for that. Or how does that work. So consolidation is providing governance of data or validating data asset. That come in there. If it recognizes an anomaly we can signals signal that data set to correct and so really what constellations value proposition to kind of bring it back is to validate and secured data so that people don't tamper in spoof that that data to provide false insights into that data set so that we get better data than we get better and better intelligence you you think about an autonomous cars producing or card generals producing tons of data every second. That what you need a mechanism awesome in place to make sure that there isn't some sort of tampering or putting fake data into a system because back take derail the car and then the car is is gonNA crash into a building in is GonNa blow up in what constellation does is we provide security around big.