Israel, Developer, Crohn discussed on CRYPTO 101
The dedication in peace of mind and I are no No Stranger to late hours in the office that is for sure so so liquid APPs of course so thank you for having me first of all a lot of people in the space. A little technical people are really familiar with the Internet is bills right We have avid. ISP's and protocal there We have the web services and websites on top of it. Applications we to kind of closer Luke Over how the blockchain was created how it goes to build we started in us and I think that is the most used doctrine today. The number says anyway it's the home of depths in a sense but I love. The boulevards are actually only stadium that the biggest community of developers offers but they're stuck because skill ability issues so it was really important to us. Since we're not maximalist in any way to create the best inter operability solution we could think of to this middleware so we have a mechanism in place to create this cross chain. Decentralized solution that transaction being passed in between these blocking jeff at a high level like the number one goal of liquid APPs is to you know have enabled cross chain value transfers. No I think that this is incidental. You know that's something because you can make out of the service I want to allow developers and users to use blockchain chain as it is the Internet meaning we do not know how websites work you know what maybe Aaron does but most of them they do not think about the back end of the website. We don't know which service servers website is using. We don't know which is the. The APP is using if a developer chooses to use ethereal E.. Ost doesn't matter as long as the DAB works and is cost effective effective in Crohn's fast enough and everything is decentralized and the integrity of the change. Thank you chose is safely kept. This is what we allow be. So this sounds like a open stack but running on blockchain. Nodes it's more decentralized. Is that correct. It's one of the features that we can present. Yes that's so so. Why did you build us? What inspired you to solve this problem in the way that you've done reading question We started delivers we were Lost two-thirds of Yaas and before that I was part of the BANCORP team And got into no ethereal really well On is frozen ponds and when I saw it I understood the opportunity of this web three point. I know eco-system and we really thought me and my pal my partner with you That we should learn more about this technology. I know that there's a lot of criticism regarding eels and governance. But let's look at his former technology for the view right now. It is the best blockchain right now. In terms of transaction costs and transaction speed. When we dug into cold we started? It's still not sufficient so if we're talking talking about mass adoption all the time. That's the teacher. The blockchain entrepreneurs VOCA or two years. It's not really possible. People like if I would go to a friend of mine which is a developer. And don't listen. There's this blockchain thing and it's really cool. They should develop on top of it. The limitations will. We'll get into tell me you know what. Let me know what you get better. Because I can't do it like this and we wanted to create mass adoption by building the infrastructure to allow that. I think what you've done is really cool but going off topic for just a second but remaining on the topic of mass adoption. What's what's the crypto on blockchain culture like they're in Israel? I know there's a lot of projects out there. I assume legislations friendly are. You guys is in really hot competition or is there a lot of camaraderie and trying to build Israel as the next of capital for Crypto. What's it like over there really cool? No question I have to stay Just a big a bit of a broader look of the startup space in Israel that the name startup nation is something career locked in Israel. A lot of entrepreneurs at the most The the highest percentage of startups or copy signed a world so generally speaking in the startup space Israelis Dried star next to many other stars. on blockchain specifically We are I think still in the baby steps like the largest the the brightest developers in Israel are yet to be in the blockchain space. But this is an opportunity as well we have many companies that Israel You have their RND company of Bank. Or based in Israel you have a few other's orbs with our in Israel And I think it's getting more and more common of a Woodward A lot of corporates like IBM are actually basing their Blockchain team in Israel and we just had a great conversation with a guy named Luke Earner. WHO's very heavily involved in space over there? So I'm sure you're familiar with him and then Mile Buddies D- have is based based in Israel. Too that's correct. Yeah we were like. It's pretty funny. Tel Aviv is the capital capital of Israel. Most of the starts are here. But even though it's really really small undocking Less than a million In population we never see each other. And that's how it is too busy working exactly late night like today. I never left the office But we support each other The conferences it's Har here are amazing Lots of good people and So answering your original question. I I think that the Israel can become a key player in the blockchain space specifically with them out of cryptographer 's and academia academia we have here surrounding this space. I'm kind of curious. About like the philosophy behind what you guys are doing. In regards to this blockchain's cryptocurrency solved any humanitarian problems. In in your eyes you know I've been to bancorp before as I mentioned and one of the projects that I was the gold with was community currencies in Africa. Talking talking about the economic aspect of Tokens. There's a lot of things in behavioral economics. That can be a a real benefits to all these poor countries whether it's in Africa or any other place in the world there is a research by by someone called Bernardi. It's hard. He mentioned their community. Currencies are the way for sustainable better economy. We started something regarding his research in Kenya and created a community currency based on blockchain technology. Back then it was interior and gave this the community so they can trade among themselves rather than pay in Kenyan shillings. Which is there yet guernsey and apparently once you give them a means for trading it makes them amount of transaction skyrocket like ten fifteen times a day once you have more transaction debt economy is actually becoming better and better but that's one aspect? The other aspect is obviously monetary systems in general. How do you make sure that Fiat currency or any currency sustain its value when we work and we make love of effort and and there's labor involved? How do you make sure that by creating inflation? By the company company country creating replacing used still get the same amount of money because you cannot control inflation income Stu Fiat currencies the right. There is a central entity. That does that for you but you have no means as a as an individual to factors back so I believe that the libra and facebook coming with this and the fact that they have so many issues right now with the issue instead of their token shows that governments understand this as well understand that. There's something unique and sometimes you even frightening. Yeah there's something afoot in crypto currencies. We saw like. There's a lot of senators right now. L. Sending letters through credit companies and others were involved in Lebron before. It's really interesting to see. Because one of the things it liberates rain we need the world is actually education about blocking many people have not heard about watching before that so I kinda talk a little bit about block producing versus mining. So I I know that you used to be like liquid liquid e OSS right and you guys were top five for a long time of. Es this block producers Yes do you think that deep costs are delegated state. Do you think that is a viable consensus model. You know if what would you fix. What would you keep the same really good question? I think. Mining the worst part about mining is the fact that a lot of processing sitting power is being spent on something which is not valuable. No one cares about the solution for equation but it's an any quesion its purpose is determining who's next in line and when you think about it this way pretty weird because you know when we were kids the other means to decide who's next in games and stuff like that so I think that's what depots has done is to vote for people that we I believe will not sacrifice their name and reputation by manipulating the chain and we head away to check the the one manipulated the chain. So if you do we can take you down you know how. How would you determine if something decentralized you know we all Herzog from your bank or he always says that you can fork something it means? It's decentralized okay that's a good one yeah I guess so. So if you can't fork deep ause if you see someone is manipulating the system it decentralized decentralized enough and by someone who has been there okay. I saw what has been going on. What's been done? How's the government working the the people who were you know on the top twenty one in a sense? It makes people uncomfortable knowing that there are only twenty. twenty-one lock producers that are cycling and Closing the blocks one after the other because it kind of implies like an oligopoly but you you know what but what is mining pools in exterior bitcoin. If that's so but I think it's different in in mining pools because you have mining pools that are made up of of all sorts of different individuals all across the world contributing their Hash power towards a mining pool so if a mining kind of goes rogue or the mining pool operator I should goes rogue than individuals can withdraw their Hash power from that pool unless yeah definitely not no. You're right you're right right it but you can still have a fifty one percent attack using meaningful because you do not know like with zoom what you just said This is the computers are spread across the world and people can withdraw their processing power. But there might the more than meets the eye that is correct. This is that you don't know for certain we know for a fact that there are a few mining holes in the world that operates today. I think it's approximately four or five so in that sense twenty one that you know we know who they are is that better. Is that worse. I personally think that this was like a general but but on a personal note. I believe that decentralization is a spectrum and is not like either decentralized or centralized. There's a gray area absolutely agree it all about the tension between the two and how far far away you are willing.