Zach Burks: Adoption On The Way Through Non-Fungible Tokens


ZAC. Books is the founder of mine table up with me today from Singapore might thank you so much being on the show. Amen Thank you. I appreciate it. I worry as we look those starving first of all your background because I know that this isn't the first thing that you've involved in the spice. When did you get in and if you could take a walk through as to what it is Brought you to this point. Yes so sorry on the nights of read that wrong of putting in the mental mental. Like you could amid stuff so it. `Bout about my background. I've been in Crypto since two thousand twelve got into Bitcoin at about five bucks. It was quite a while ago. Actually think back on it. I can't believe how long it's been And then I got. I got into software development and started working as a contract developer on Syria. Back in late. Twenty fifteen twenty sixteen And make a long story short. Basically did that for a bit and I saw This Erc seven twenty one standard. Come out and this came out along after the first. Nf she did the scene and the first NAFTA was this thing called crypto and I remember seeing these crypto punks and thinking about like. Oh that's cool. It's like a little Avatar and there were limited. There's about five hundred or some small now and you can go through pick whichever one you wanted and then claim them and about a week short and Like I found a week after it came out so there were none left that I liked that. I wanted to claim so I never thought that was the first example of a non fungible token on the botching and when I found that it piqued my interest. A little bit still fairly new. We didn't call. Non fungible tokens at that point. It was just kind of this. Avatar project Then this game came out called Crypto kitties and. I'm sure a lot of people familiar when it gets enough. Keys and Crypto kitties and funny funny enough story. I was Actually the first person to make money on Crypto kitties because at the Hackett on a day war but they came out. The idea was kind of like earth out of Day were live streaming and I was washing California and they said hey could game go to like Beta dot dot com or whatever and So I'm sitting home and I'm being a while a game on. We've never seen this before. I WanNa play SAR win. Sort OF PLAYING THE GAME. And there's only like twenty other people because you know. It was at a hacker on everyone's busy accurate and work in their own project. I was just seeing their home. Spamming the spamming over and over in Taiwan and I went to the prizes and Benny the founder. I was trying to claim my eat surprise. Who was like? Oh Man. I'm so happy Wendish. Were you out in the heck. Come down to the booth by the balloons and we'll chat. I'll shake your hand and I am in California right now and He he wasn't too excited about that because this is in Canada's or their Akhavan was and that was how he's GonNa hit the scene and that's how I really got up close and personal in a teasing from that point forward All my focus was on. Nf T- From Development to research to the ecosystem I have a paper published with the I. Tripoli on using our contracts blockchain teased out Within a supply chain for food traceability and and so since Krypton kitties really been focused our MP's and came up with the idea for miserable because that's all there was a lot of problems with impedes Mainly like you know managing those entities for example. You know if you go to your wallet with your ears. He Twenty Tokens. It's very simple for you to transfer them rides. It's made for that but The Wall it's you know at the time warp made for an keyser's only like one wall at the at collectibles on their We made a manager which leads any wall interact with their NFC's and work on most the NFC is out there as long as they're not like to custom Just like ears twenty two and that was the start of of something groups a little bit of background. So you've been around I mean that's that's remarkable blind. Bitcoin BECCA five dollars. We'll donahue you bought a bunch beheld. Yeah well unfortunately of course you know back when it was five dollars. No-one held it. We bought it to to spend it. Yes I spent a lot apply spent about About one hundred. Fifty Bitcoin Buying things that I probably shouldn't have and looking back on that now thinking somewhere around three four seven million dollars about seven hundred fifty thousand dollars And slapped my head thinking wow. I can't believe I've spent that much twenty on the stupid things I've thought but I kept a bit and it's a it's been good. I've been able to live and work on my own projects. I haven't had a job for quite a few years now and So it's been next. Well well done so. Let's back into that and if you will because I'm hearing a lot more about it than an inmate. I mean I think there was the travis and JAL from the bag. Crypt type PODCAST. We're also talking about that recently and suggesting that it was going to be somewhat of a breakthrough and a real sort of rubber hitting the road for twenty twenty. Being non fungible Tokens It seems to be getting a lot of momentum from a lot of people respect. So can you tell me why? So many people talking about non fungible tokens in. And why it's going to be something that's used and something. That trump is going to benefit table and the spice and who will benefit from out so our question. But what is the tree breakthrough here using Non fungible titans. What is it that we're looking at? Yeah and you know back podcast. A great example. I was actually just on a call with Joel yesterday. talk with him about his. Nfc's and seeing how we can help them out and the thing is is this why. It's got the potential to be such a breakthrough adoption building kind of token devices because their use cases for inept. Keys are so massive. It can go from something like a ticket or proof of listening to your podcast. You know for example in this podcast you can say hey go to this. Lincoln claim I N T and if you have you know ten of those in a tease from ten different podcast. I'll give you a free a free class or free less than or access to my course an fifty and accusing him. They'll give you free access to the conference so speaking out or whatnot and so that's just one example of how you take something and it can be modified and changed to fit almost any use case from games to attendance to financial markets Inept he is can be used to be able to take real estate We've seen real estate be used quite a bit within a piece where You know you take. A House is represented in shares in the. House are keys because you gotta you gotTa remember without the difference between the NFC. In years she twenty is that in your she twenty. I can send you have. I can send you a quarter. I can do zero point two size of of any token but with an years. Seven twenty one an nf. Chea- it's non hundred meaning one of the things that can't be divided right so if you think of a trading card like Pokemon or baseball card. I can't give you half of that car. I can't rip it in half and give you half that right if you're thinking of a Cat. I can't give you half of my cat. I can only give you my cat right and this is really cool off of your capital. Absolutely I guess yeah. I would be a very good cat owner. So the thing is is is. This gives us this new kind of functionality where you can take something like shares in a company and you can create you know whether it be financial shares for an actual company or whether it's shares in real estate or whether you do something like say token izing your files and this is what we're working on right now is to allow people to create a file and then have represented on the blockchain. And the reason we do this because you create a cycle of continuous engagement for something that used to be like one time and so we go back to the example of your podcasts by giving. Nfc Insane if you collect Tennessee's Will give you a coupon or we'll give you a discount your free. Something Is Is incentivizing engagement. Where normally it's very hard to get engaged for listeners? Podcasts or for say celine some thoughts or graphic design work Normally people by listen to purchase it and they never go back they never interact with the seller. The podcast stir anyb- but by having enough teas you get dying gauge and this increases the the seller or the podcast persons customer engagement rate and this also increases their revenue increases their profits and ashes one example. It's it's literally endless of the use cases for NFPA's I think one of the most interesting would be you know something like identity or food traceability right so an NF key could also be passed. Or now I don't know if you should necessarily your passport on the blockchain because the public and everyone would be able to see your passport if there was a way to include privacy into this. Nafta then it could be used from like a government agency to issue some sort of identity documentation or could be used to issue a permit saying that you are able to do something or the D. to your house or your driver's license and all of these use cases are really fast. That's why died crypto Joel and Travis. They think the two thousand twenty is going to be the year of the tea and you know we. That's not necessarily new right. Twenty nineteen first of the year of teas. And that's something that mental is working on is. We're we're trying to find these problems that we see in. Why enough keys having gained mass adoption yet? Now we're trying to address. These problems raped. One of the things is Kinda complicated. People think non fungible and make. I'm never I never heard that word until you know until I found the nonfederal tokens and then I had to learn about what that is. Oh a dollar it's fungible You know a a beer bottle. That's not fungible And so that's you know some part of it but the other part of it is the complications of if if you're trying to do a video game item and you're targeting video game players these people they don't. They don't have crypto wallets. They don't WanNA learn about blockchain they don't WanNa know about immutability and how transaction worse they just they just want their scan. It just went. They're done you know they just all whenever I and these are some of the problems that were for example when our when our marketplace Abou- everything will be able to be done with a credit card. If you've never had big corner a theorem and you don't have a wall. It won't

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