April 21, 2023

215: I Left My Wallet | Jesse Phillips and TrustWare

215: I Left My Wallet | Jesse Phillips and TrustWare
215: I Left My Wallet | Jesse Phillips and TrustWare
MoneyNeverSleeps
215: I Left My Wallet | Jesse Phillips and TrustWare

Jesse Phillips is the co-founder and CEO of TrustWare, one of the 12 founding teams forming the Techstars Web3 accelerator.  Jesse and Pete Townsend dig into how Jesse got into crypto, the TrustWare vision he formed with co-founder Jonathan Frazier, adjusting to some of the crypto curveballs the world is throwing at TrustWare, and how life experiences are informing the building and scaling of TrustWare.

TrustWare is a secure, recoverable, non-custodial crypto vault that connects users in a social network for sharing value. Jesse is a seasoned entrepreneur and deep thinker in the blockchain space, who is on a mission to revolutionize the way we handle digital assets and payments. With a deep understanding of decentralized technologies and their potential to empower individuals and communities, Jesse is dedicated to creating secure and democratic solutions for the future of finance and security.

LINKS

Learn more about TrustWare

Connect with Jesse Phillips on LinkedIn or by email

Follow Trustware on LinkedIn and Twitter

Episode title inspired by ‘I Left My Wallet in El Segundo’ by A Tribe Called Quest

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Hey there, I'm Pete Townsend and
this is money, never sleeps.

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We look inside the minds of
entrepreneurs and it crossover

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of startups and apprised Finance
technology and Life.

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00:00:18,700 --> 00:00:21,600
As we know it before we dive
into this week's episode of

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money, never sleeps.
Just a quick heads-up that the

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eith Dublin hackathon. 2023 is
just ahead of us in Dublin.

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On May 26 to the 28th at dog.
Patch labs and Dublin.

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Youth Dublin's the first web
three focused hackathon

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conducted on the island of
Ireland.

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And the idea is to create a
space for the community to build

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and attract talent to the web
three ecosystem.

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Check out the details on eith
Dublin, dot IO.

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So on the show this week we've
got Jesse Phillips, co-founder

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and CEO of trust where one of
the twelve founding teams

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forming the techstars, web three
accelerator class of 2020.

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Three trust, where is a secure
recoverable non-custodial,

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crypto Vault that connects users
in a social network for sharing

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value Jesse's a seasoned
entrepreneur, a deep thinker in

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the blockchain space was on a
mission to revolutionize.

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The way we handle digital assets
and payments with a deep

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understanding of decentralized
Technologies and their potential

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to empower individuals and
communities.

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Jesse is dedicated to creating
secure and Democratic solutions

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for the future of Finance,
Jesse.

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And I dig into what got him into
crypto in the first place.

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The trust where Vision he formed
with co-founder Jonathan Fraser,

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adjusting some of the crypto
curveballs at world is throwing

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a trust where and how life
experiences are informing.

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The Building and scaling across.
We're all right here on money.

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Never sleeps.
Before we dig into trust where

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you've had a really, really
interesting path to get here.

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And I kind of wanted to dig into
that a bit first to see how you

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got to this point how you got
into crypto and how you and

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Jonathan Frazier got together to
build trust where?

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Yeah.
Yeah.

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Absolutely.
Definitely an interesting path.

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Most people that I have met are
kind of in one Camp, right?

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You're either kind of in the
Bitcoin camp.

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Or the, you know, the other side
right?

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Web 3D file that.
Yeah, so kind of an interesting

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kind of switch for me.
But let's go kind of way back in

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time.
I've always been building

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companies from day one, when I
learned and this is actually

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kind of an interesting story.
I think I was in fifth grade and

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we had a ticket system.
My teacher would give you

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tickets for good behavior and
you could use those tickets to

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get out of trouble.
So like let's say you didn't

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have your homework, one day you
could use a ticket for or that

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or what a lot of the kids like
to do was they would trade their

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tickets in for a Snickers bar
and I wasn't the best student in

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the world.
But I realized that they were

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the little Snickers bar.
They were not king size, you

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know?
The fun stuff.

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Right.
Right.

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And so the kind of Genius part
of and kind of the the

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Revolutionary or I don't know.
How do you put this?

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The rebel not revolutionary the
rebel part of me.

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Basically goes well that's cool.
Like I'll spend 350 and go buy

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an entire bag of these and have
Many tickets as I need ya.

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And so anytime I couldn't hand
in my homework, I would just

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kind of matched.
We have these tickets and

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realize that you could, you
know, you could have kind of

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another economy running running
on in the running around in the

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back end, or running alongside
of this and my teacher found out

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and props to her mrs.
DiNapoli she obviously scolded

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me a little bit but she didn't
kill the entrepreneurial like

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Vision.
She didn't just say like this is

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completely against the rules.
I think to her ER, it was a

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little bit kind of, I don't
know, it was, it was ingenious.

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I think in a way and, and a sign
of things to come.

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Yeah.
And so she kind of supported it

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and she said, no, you can't do
this but she kind of supported

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it.
And from then on, I was

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fascinated with kind of the
Arbitrage and the little things

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I could do selling candy at swim
meets, all of these different

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things.
And I lived, or I grew up

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outside of Boston in a kind of a
little suburb about 25 30

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minutes away from from the city
and was Lucky enough to have an

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unbelievable dump as well.
Most people probably like one.

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Yeah, but as a little kid, I'd
go there and pick up electronics

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and for most of the time it was
all about taking them apart.

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Kind of like reverse Legos and
then, eventually started

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building them back up and could
actually build computers, and

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use that to kind of power my
Fascination and interest with

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music.
But, you know, that was kind of

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the first foray for me, into
having computers.

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Actually work for people and
what could be done alongside

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what you were doing as, you
know, in your productive life.

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And so kind of coming out of
college, I studied

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Communications by the way, but I
wrote my thesis in college on

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emerging Technologies and kind
of the social sciences side of

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how like at what point do people
become uncomfortable with

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technology?
Which was definitely something

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to come, right?
Like, yeah, looking, hey, I I

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read that.
I had a look on your.

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It's still on your LinkedIn
profile.

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I keep it there for a reason
because I think it's a really

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interesting thing and you know,
for people to be able to dive

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into what the kind of pre
blockchain side of me was like

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because it was all I think
building up to this, right?

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Yeah, and you know what I did, I
actually downloaded it, took it

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off of the viewer downloaded it
so that I could do the ctrl-f

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search right for crypto or
blockchain and didn't see either

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one of those words in there.
So as you're saying it was the

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pre blockchain Jesse E Phillips.
Yes it was.

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And one of the things that
really struck me was the

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findings and really it was the
more technology you consume, the

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more comfortable you are with it
to come.

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So kind of at that point
understanding just how digitally

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native.
I was and a lot of my peers were

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and understanding that you know,
things are to come and we're

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just kind of going to have to
deal with them but even besides

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the thesis, one of the really
interesting things on there.

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Is I think it's the dedication
page and it just Steve Jobs

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quote and it's, you know, I'll
paraphrase it.

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But it's basically, once you
understand that the world is

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built by people that are no
smarter than you like the edges

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break apart.
You can kind of do amazing

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things and that's kind of been
governing me ever since.

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But coming out of school, I was
very broke, very obsessed with

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Bitcoin.
One of my college friends,

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basically got me into it after
reading part of my thesis, he

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said I think You'd like this and
just spending ungodly amounts of

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time researching blockchain and
at the time I was dating someone

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in Buffalo, New York and my
family and I that summer went to

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Iceland and I started looking at
Power, really seriously?

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Because I see all this
geothermal power and I'm like

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wow the little I know about
blockchain Bitcoin, this would

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be an awesome place to start a
mine, right?

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Going back to that thing.
Hey can we have computers work

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for us and Buffalo New York was
the same way right hydroelectric

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from Niagara a lot of natural
gas.

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It was just kind of this
combination of all these things

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hitting me and shortly.
You know, shortly after I would

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say, working for a year in a,
it's kind of like a startup

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accelerator.
They had office space and, and

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we would evaluate startups
coming in.

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We started Harpy a mining which
was really the first four inch

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that and my co-founder.
And I Pedro, and I, we built, I

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think one of the first models
for data driven analytics in

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proof-of-work.
Work.

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And that was really
revolutionary for the time at

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that point mining was more of an
art than a science.

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And we said, I we think there's
something to this looking at

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asset price valuation, and the
network difficulty, and the

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relationships between these
things between the chip level

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design, you know, the nanometer
process has the electrical

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consumption.
All of these things, we thought

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if we can kind of crack the
code, then we can predict, you

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know how much money we can make.
And really this was out of

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necessity because Either of us
had enough money to actually go

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out and kind of build the mind
that we wanted to.

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And, you know, and all I was
really trying to do was have

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something running off in the
background that would allow me

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not to, you know, sling drinks
for a living and move to

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Buffalo, which sounds crazy
right now.

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But you know, young me, wanted
that and and that was the

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beginning of everything right
sitting in a, in a cubicle in

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Newton Massachusetts, you know,
just Looking at Bitcoin for

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hours on end.
I mean I slept under that desk

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some nights, it was an obsession
at that point and it never

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really stopped.
Wow wow and you did that.

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That was Harvey a mining.
You did that for a few years,

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didn't you?
Yeah we ran it actually up until

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2019 and a lot of the major
mining providers now or I guess,

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but major data centers, now run
some version of it.

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Whether it was based on
Something that we did or just

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you know all of us kind of
coming to the same conclusions.

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This really did become kind of
standard for people to look at

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it in this way and Mining at
that point was really throw a

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bunch of computers into a
warehouse and try to figure out

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the dust situation.
It was not, you know, Riot or

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Marathon or you know some of
these bigger providers where

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they've got a CFO a CTO?
I mean, this was the true cowboy

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era of that time.
And so, you know that was it

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went on for a while and we
started kind of getting into

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actually trying to place people
all around the world which was

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exciting because it really
coincided with this idea that

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still kind of keeps me fired up,
although kind of moved on from

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this, which is that Bitcoin is
the ultimate economic battery,

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right?
You're storing.

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The you are converting electrons
into hard money, and if we could

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just use renewable energy to do
that, well, we could pay

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Renewables back faster and that
The thesis.

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So we started trying to place
people all around the world.

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I mean, I don't talk about this
a lot, but interspersed in here

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is many attempts at buying power
plants and standing up Minds as

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well.
But, you know, that was, yeah,

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it was another chapter in that
history and then kind of moved

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on from that to support those
people in my next, the next

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chapter so to speak, right?
And that was by Nancy, moved on

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to finance next to you.
Yeah.

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What a wild ride that was we had
Actually, speaking of the power

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plant, this was kind of covid
time and we were going out to

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buy a power plant again in
Upstate New York with the idea

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of converting it all into into
Mining and then there is a nice

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little hundred acres in the back
where I wanted to put the solar

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panels.
But I eventually kind of ran out

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of money doing that really kind
of zeroed myself out.

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I would say kind of hit rock
bottom in that period between

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essentially ending harpeia and
this You know, coming out of

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2018.
This was one of my favorite

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times to work in crypto, right?
Because the tourists are gone.

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But it was also a very
challenging time to try to make

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a living in it.
And, and finance, essentially

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called, as I kind of Hit the,
the end of my bank account, so

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to speak.
And I said, okay, let's do it.

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So, your lifelong.
Yeah, and I'm very thankful for

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that at the time it was probably
a very different organization

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than it is now but I went over
there to support the BD efforts

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for the pool.
Pool for the mining pool.

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And we did, we did North
America, South America, a little

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bit of EU and I managed I think
a pipeline of about 75 active

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00:11:48,800 --> 00:11:54,600
clients to this day, I have PTSD
over telegram because it was

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every time zone you can imagine
people all over the world, but

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what a fascinating time to
really be at the heart of Mining

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and see it kind of grow into an
actual industry.

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I mean, this is when everyone
was taking out.

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You know, everyone was figuring
out how to turn their companies

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into into essentially Fiat,
Arbitrage machines into into

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Bitcoin.
And just to be at the center of

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that was, was wild.
Got to see so many cool minds

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and really get deep.
Yeah, yeah, no.

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And seeing that all that stuff
from the inside is just so

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incredibly important and
informed I'm sure what came

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next, obviously before you
jumped to launch trust, where

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with Jonathan Frazier, there was
the stop off a train.

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The Middle East crypto Exchange
in between all that.

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Yeah, yeah, it was a great
opportunity, effectively.

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I was kind of done with the
Beady side of things.

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I was really looking for a way
to take a lot of the learnings

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that I had had at finance and
convert them into kind of

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something that was more
meaningful on the product

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development side.
And really, this is also kind

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of, I think, you know, I
wouldn't say that I have many

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superpowers but I think I'm
pretty good.

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At seeing the future and I think
that's good, super power.

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Yeah, I think that's why though.
Jonathan is such a great

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co-founder as well as because
you know, together we can see

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the future, but we can also
focus on what's right in front

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of us to get there.
But we'll go into that in a

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minute right now.
Basically, at this point, I was

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seeing the consolidation of
Mining and kind of the dream of

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having your own, you know,
facility was slowly fading away.

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There was a point at which I
started advising for and working

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with the P'nay.
That's another story but really

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this is kind of the idea that in
order to continue working in the

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space that I truly love need to
make a change and broaden my

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Horizon.
So I went over to rain and ran

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the The Innovation Department
there.

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We built it up, we did.
I think we took it from five

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coins. 275 worked with The
Regulators there a lot of kind

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of product development for the
end user on the Rain app.

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It was a fantastic experience
and got me over too.

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By for the first time to really
see kind of what it was.

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Like never had, you know, never
been there.

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So cool and then at what point
did you and Jonathan get

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together?
I know that both you and

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Jonathan are Draper University
grads and that I think there was

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a reunions that place were you
would Jonathan got together want

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00:14:29,000 --> 00:14:31,800
to shed some light on that.
Absolutely.

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So Jonathan and I met at Draper
University reunions that summer,

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it was the summer after kind of
the the terror Luna, ordering

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the terror.
Luna explosion happens.

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And then I left rain.
And actually hiked the Camino

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first experience kind of in
Spain, with my little sister for

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part of it and came back and
there was this reunions

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happening.
And I had gone to Draper

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University at the tender age of
18 years old.

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It was, I had submitted a
business plan out of high school

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and somehow God.
And and so I hadn't been there

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in 10 years And I said, you know
what the heck, let's hop on a

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plane and went back to my old
haunts and San Mateo.

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And while we were there met
Jonathan and it was really, I

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mean, it was just a conversation
that started on a bus.

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We were coming back from
something called Survival Camp,

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where they, they try to teach
you all different types of

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00:15:27,600 --> 00:15:30,100
skills as an entrepreneur, but
one of them is kind of

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00:15:30,100 --> 00:15:33,100
resilience and survivals.
They bring you out to this place

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and there's a bunch of different
activities you can do out in the

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wilderness and for a day they
brought Us out there again

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00:15:38,600 --> 00:15:43,400
during this reunions, we started
talking on the bus back and just

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00:15:43,900 --> 00:15:48,600
was fascinated with how his mind
worked and his experiences and

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00:15:48,700 --> 00:15:52,700
and more importantly than that.
Just the way of looking at the

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00:15:52,700 --> 00:15:58,900
world and his moral compass, I
think is probably the thing that

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00:15:58,900 --> 00:16:03,600
really stuck out to me and this
is really after having some bad

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00:16:03,600 --> 00:16:06,800
experiences a lot of good ones,
but some bad experiences in the

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mining side with some People
that, you know, really eroded

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00:16:11,200 --> 00:16:15,900
trust, it was only about a two
hour bus ride, but by the end of

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00:16:15,900 --> 00:16:19,700
that, I was like, this is
someone that I could I could see

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00:16:19,700 --> 00:16:24,100
actually working with and not
just for a little while and were

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00:16:24,100 --> 00:16:26,900
you looking for that?
I wasn't at all.

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00:16:26,900 --> 00:16:30,800
In fact, the I was just that bus
ride that they're like click.

294
00:16:31,600 --> 00:16:36,200
It was it was the person, right?
It's not so much like I'm not at

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00:16:36,200 --> 00:16:37,700
this point.
Looking to start.

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00:16:37,800 --> 00:16:40,800
Art another company, right?
It was almost like a Hiatus,

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00:16:40,800 --> 00:16:44,300
like trying to figure out where
I was going and even the idea

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00:16:44,300 --> 00:16:46,100
for trust.
We're at that very moment,

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00:16:46,100 --> 00:16:49,500
wasn't even a thing.
I had just met the person and I

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00:16:49,500 --> 00:16:53,100
was like, wow, I'm, I was
shocked to be real with you.

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00:16:53,600 --> 00:16:56,900
And it was later essentially, it
probably, I think it was the

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00:16:56,900 --> 00:17:00,000
next day, or the day after I was
actually in a conversation with

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00:17:00,000 --> 00:17:04,800
someone and had the kind of the
original idea for this said,

304
00:17:04,800 --> 00:17:07,599
excuse me, ran back in.
Put it on a whiteboard.

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00:17:07,900 --> 00:17:10,200
And Jonathan and I and a couple
of other people have been

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00:17:10,200 --> 00:17:13,900
hanging out, kind of this little
group within the reunions and we

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00:17:13,900 --> 00:17:17,400
just started talking about it
looked at it on the Whiteboard.

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00:17:17,400 --> 00:17:22,400
And and Jonathan ask me politely
like do you mind if I work on

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00:17:22,400 --> 00:17:24,800
this with you?
And I was just, I was like I

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00:17:24,808 --> 00:17:26,900
don't know where this is going,
but absolutely, this would be

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00:17:26,908 --> 00:17:31,300
great and the original idea was
basically how can we protect

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00:17:31,300 --> 00:17:34,300
people's wallets.
I had seen so much stuff out

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00:17:34,300 --> 00:17:36,300
there.
I had been hacked in 2018, been

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00:17:36,300 --> 00:17:40,000
swapped all of my friends in the
mining space in the exchange

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00:17:40,000 --> 00:17:43,500
space that you have your head
over the curb or over the fence

316
00:17:43,500 --> 00:17:45,000
line.
So to speak, You're, you know,

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00:17:45,000 --> 00:17:48,000
you're a main target and it's
Relentless, it's the only number

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00:17:48,000 --> 00:17:49,800
in crypto the continues going
up.

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00:17:49,800 --> 00:17:53,100
Even if the market goes down, is
the the value and the amount of

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00:17:53,108 --> 00:17:56,400
hacks.
And the original idea was, can

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00:17:56,400 --> 00:17:59,100
we deposit something into a
wallet that wallet essentially

322
00:17:59,100 --> 00:18:02,600
prints out, a unlock token so to
speak where you can hold it

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00:18:02,600 --> 00:18:06,000
somewhere else and nothing can
be removed from that wallet, and

324
00:18:06,000 --> 00:18:07,700
Jonathan being the absolute
genius.

325
00:18:07,800 --> 00:18:12,500
It is basically over the next
kind of, I don't know, two

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00:18:12,500 --> 00:18:16,600
months completely, we reworked
this thing completely together

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00:18:17,000 --> 00:18:20,700
and and came up with the base,
you know, the base technology

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00:18:20,700 --> 00:18:24,600
base of where we are right now.
It's amazing how fast this whole

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00:18:24,600 --> 00:18:29,000
Space moves, because like you're
talking about the summer roughly

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00:18:29,000 --> 00:18:30,900
of 2022.
You're talking about a couple of

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00:18:30,908 --> 00:18:34,200
months before that with Tara
Luna and it I'm feel like I'm

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00:18:34,200 --> 00:18:36,600
saying Jessie that was just last
summer.

333
00:18:37,300 --> 00:18:40,500
Yeah.
And how quickly that you can get

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00:18:40,500 --> 00:18:43,700
going here.
When you've got this kind of

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00:18:44,700 --> 00:18:48,200
this electric ball of momentum,
that when you get two people

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00:18:48,200 --> 00:18:51,500
together, that are kind of
thinking along the same lines,

337
00:18:51,500 --> 00:18:54,200
but then bring something a
little bit different to the

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00:18:54,200 --> 00:18:58,000
table.
Each one of them, just how how

339
00:18:58,000 --> 00:19:00,600
strong this can be.
Yeah, yeah.

340
00:19:00,600 --> 00:19:05,200
I mean it's the it's like, the
beauty of Entrepreneurship, is

341
00:19:05,200 --> 00:19:08,200
creating something that actually
matters out of Thing.

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00:19:08,700 --> 00:19:13,000
There is no precedent in the
relationship between the people

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00:19:13,300 --> 00:19:16,900
before that.
There's no precedent in what is

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00:19:16,900 --> 00:19:19,600
being created.
It's just the beauty of being

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00:19:19,600 --> 00:19:23,600
able to see your like, your
reflection in other person and

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00:19:23,600 --> 00:19:26,900
be like, we bring two different
things to the table.

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00:19:26,900 --> 00:19:30,400
It is, you know what it is, it's
a marriage but it's like a an

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00:19:30,400 --> 00:19:34,200
Innovative marriage where you
can create something and it is

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00:19:34,200 --> 00:19:37,100
your baby at the end of the day,
but you create something that

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00:19:37,100 --> 00:19:39,900
the world Eads out of kind of
out of thin air.

351
00:19:39,900 --> 00:19:42,600
I think that's the magic but it
has to be with the right person.

352
00:19:42,600 --> 00:19:46,100
And so when it clicks like I'm a
big believer in just humans over

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00:19:46,100 --> 00:19:49,100
everything even in the world of
AI and and all that.

354
00:19:49,200 --> 00:19:55,000
So I know, I know, I know and
let's dig into trust where a bit

355
00:19:55,100 --> 00:19:57,900
and tell us why the world needs
it right now.

356
00:19:58,300 --> 00:20:00,900
And remember that my mom does
listen to this podcast.

357
00:20:01,300 --> 00:20:03,800
Amazing.
Well, this is for your mom, too.

358
00:20:03,800 --> 00:20:08,000
It's a for everyone.
Yeah, at the core of this, in

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00:20:08,000 --> 00:20:11,700
order for any technology to see
Mass adoption, it truly needs to

360
00:20:11,700 --> 00:20:15,000
be able to impact people at the
level of their needs and needs

361
00:20:15,000 --> 00:20:17,900
to meet people where they are,
my mom is a psychiatrist.

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00:20:17,900 --> 00:20:20,700
So there's a little bit of a
shout out to her, but Maslow's

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00:20:20,700 --> 00:20:22,700
hierarchy is something we look
at.

364
00:20:22,700 --> 00:20:25,700
When we think about the purpose
of our company to is defines

365
00:20:25,700 --> 00:20:29,700
these needs as our coordinates
security is the next level up

366
00:20:29,900 --> 00:20:33,100
belonging and kind of your
community esteem.

367
00:20:33,100 --> 00:20:35,600
And self-actualization is the
top of this pyramid.

368
00:20:36,100 --> 00:20:38,900
And we believe that current
blockchain Technologies are

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00:20:38,900 --> 00:20:42,200
primarily focused on serving the
needs of the top of the pyramid.

370
00:20:42,500 --> 00:20:45,600
We can see this through stuff
like the self-actualization

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00:20:46,000 --> 00:20:49,300
creative products like digital
art Financial Freedom, through

372
00:20:49,300 --> 00:20:52,200
digital Investments esteem,
which is like your status and

373
00:20:52,200 --> 00:20:54,300
influencing your community, your
board ape.

374
00:20:54,300 --> 00:20:57,700
Your token, your rare
collectible, we kind of look at

375
00:20:57,700 --> 00:21:00,600
this and we want to get to the
bottom of the pyramid as fast as

376
00:21:00,600 --> 00:21:03,000
possible.
And the real idea here is that

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00:21:03,000 --> 00:21:04,900
we need to address people's core
needs.

378
00:21:05,300 --> 00:21:09,800
So That starts with the ability
to access real-world value

379
00:21:10,100 --> 00:21:13,200
through services and this, you
know, can pay for food shelter,

380
00:21:13,200 --> 00:21:17,800
daily needs safety and stability
which is knowing that digital

381
00:21:17,800 --> 00:21:21,400
assets are safe and secure with
an ownership model, that users

382
00:21:21,400 --> 00:21:25,000
can trust and belonging which is
recognizing that the blockchain

383
00:21:25,000 --> 00:21:28,700
is social in nature and allows
user-friendly sign on Discovery

384
00:21:29,000 --> 00:21:31,500
transactions with the username.
And that's really what we do.

385
00:21:31,500 --> 00:21:34,600
At the end of the day, our
solution is to bring the

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00:21:34,600 --> 00:21:38,700
blockchain down to the All one
of this Maslow's hierarchy of

387
00:21:38,700 --> 00:21:41,500
needs and equal where they are.
Right.

388
00:21:41,500 --> 00:21:45,900
So yeah.
So really like, let's take a

389
00:21:45,908 --> 00:21:49,500
look at kind of how we think we
can do that at the ground level.

390
00:21:49,500 --> 00:21:51,300
It's security.
This is where Jonathan I

391
00:21:51,300 --> 00:21:53,600
started.
It's a Secure Vault based on

392
00:21:53,600 --> 00:21:57,500
trusted security standards like
multisig and to fa we started

393
00:21:57,500 --> 00:22:02,000
talking a trip University about
why like why on Earth is to fa

394
00:22:02,000 --> 00:22:05,600
on blockchain not a thing.
And can we take multi Sagan and

395
00:22:05,800 --> 00:22:10,000
Stead of it being, you know,
myself Pete and say your mom.

396
00:22:10,000 --> 00:22:12,200
We just talked about her.
Yeah, holding Keys.

397
00:22:12,200 --> 00:22:15,400
Why can't it just be one person
with different digital?

398
00:22:15,500 --> 00:22:18,100
You know where the keys are in
different digital spaces?

399
00:22:18,300 --> 00:22:21,100
Can we turn this thing on its
head and make people more secure

400
00:22:21,400 --> 00:22:23,800
because it is the single private
key problem, right?

401
00:22:24,100 --> 00:22:26,700
Your key is also your fault.
Any five-year-old can tell you

402
00:22:26,700 --> 00:22:29,000
that if the key is sticking out
of the Vault, the vault is not

403
00:22:29,000 --> 00:22:30,900
secure.
So why do we put up with that in

404
00:22:30,900 --> 00:22:34,800
blockchain and more importantly,
why are the ground level user is

405
00:22:34,800 --> 00:22:38,100
forced to get into that?
It when, you know, 15 20 bucks,

406
00:22:38,100 --> 00:22:41,500
might be a drop in the Hat for
me or you but it might be

407
00:22:41,500 --> 00:22:43,100
someone's food for the next
week.

408
00:22:43,100 --> 00:22:46,200
We need to address that in order
to make blockchain accessible,

409
00:22:47,000 --> 00:22:50,500
it needs to be social to and
that's why we've started down

410
00:22:50,500 --> 00:22:52,300
the road of universal account
names.

411
00:22:52,600 --> 00:22:56,400
These are aliases that give
users easy access and point to

412
00:22:56,400 --> 00:22:57,900
any blockchain.
They're built for the

413
00:22:57,900 --> 00:23:01,600
interchain, the interchain web
three, and that's the, that's

414
00:23:01,600 --> 00:23:04,000
the vision of the future.
We see as well and it's

415
00:23:04,000 --> 00:23:07,200
connected this interchange.
Infrastructure connects to any

416
00:23:07,200 --> 00:23:10,800
wallet on any blockchain and
allows for kind of dab

417
00:23:10,800 --> 00:23:14,800
developers, which is kind of the
end part of this to connect to

418
00:23:14,800 --> 00:23:17,800
New Markets and users, and
access products and services

419
00:23:17,800 --> 00:23:21,500
that impact their lives.
So, the real concept is, let's

420
00:23:21,500 --> 00:23:25,800
protect and let's connect to
people and let's end the

421
00:23:25,800 --> 00:23:28,500
problems with ease of use, and
peace of mind.

422
00:23:28,600 --> 00:23:31,900
So that everyone starting from
the ground part of that Maslow's

423
00:23:31,900 --> 00:23:35,700
hierarchy can access blockchain
and the Revolutionary power.

424
00:23:35,800 --> 00:23:37,500
Decentralized technology can
bring.

425
00:23:38,000 --> 00:23:39,600
So that's our, that's our
purpose.

426
00:23:40,300 --> 00:23:43,800
Wow, that is deep.
And I really like that alignment

427
00:23:43,800 --> 00:23:47,100
with Maslow's hierarchy of needs
their Jesse because when you get

428
00:23:47,100 --> 00:23:50,700
down to the core of humanity,
right, security.

429
00:23:50,900 --> 00:23:53,700
Right there.
You know what security can be

430
00:23:54,400 --> 00:23:57,300
expressed through a number of
different means and when you put

431
00:23:57,300 --> 00:24:01,100
it right down into what Simon
Taylor likes to call the,

432
00:24:01,100 --> 00:24:05,600
financialization of everything
that, you know, does security.

433
00:24:05,800 --> 00:24:08,000
Does technology.
Does blockchain.

434
00:24:08,700 --> 00:24:14,800
Does that allow any expression
of security in your life to be?

435
00:24:15,100 --> 00:24:17,800
Well to be locked down, its cure
anything that needs to be

436
00:24:17,800 --> 00:24:20,000
secured?
Can that be secured?

437
00:24:20,400 --> 00:24:22,500
And and it's not just money,
right?

438
00:24:22,500 --> 00:24:26,200
Like we focus so much on the
final, Angela side, but data is

439
00:24:26,200 --> 00:24:29,800
a huge thing as well, you know,
this system that we're building

440
00:24:30,500 --> 00:24:34,100
needs to work to effectively
create self sovereignty for

441
00:24:34,100 --> 00:24:37,900
people everywhere and bees.
The enough to use that as we

442
00:24:37,900 --> 00:24:42,000
said at my grandma or your mom
can can access it and can derive

443
00:24:42,000 --> 00:24:45,400
value from it because we're not
going to get there by

444
00:24:45,600 --> 00:24:49,400
speculation and by you know, the
top of the stack so to speak.

445
00:24:49,600 --> 00:24:53,400
So, okay.
Well I you said, you know, you

446
00:24:53,400 --> 00:24:55,500
can see the future which means
you have a time machine.

447
00:24:56,100 --> 00:24:59,300
I'd like to think that I might
have one too, but in a little

448
00:24:59,300 --> 00:25:03,300
humble one not, you may have
the, you know, the the doc

449
00:25:03,300 --> 00:25:07,100
Brown's DeLorean.
I've got the 84 for desk or two

450
00:25:07,100 --> 00:25:08,600
tone with a missing sunroof,
right?

451
00:25:08,600 --> 00:25:11,500
Which I actually did have one of
those way back in the day real.

452
00:25:11,500 --> 00:25:15,700
Oh yeah, I'm a car person.
So we have a, we have a lot of

453
00:25:15,700 --> 00:25:17,700
other conversations to have.
That's amazing.

454
00:25:18,500 --> 00:25:22,300
So what does the world look like
when trust?

455
00:25:22,300 --> 00:25:25,600
Where is an absolute necessity?
Because you and I can sit here

456
00:25:25,600 --> 00:25:27,900
right now and talk about
Maslow's hierarchy of needs and

457
00:25:27,900 --> 00:25:31,700
talk about security and I can
see the two of us, you know,

458
00:25:31,700 --> 00:25:35,100
buzzing and vibing off this
because we know we think we know

459
00:25:35,100 --> 00:25:37,400
what this is going to.
Like but for the rest of the

460
00:25:37,400 --> 00:25:40,300
world why don't you share with
them what this world does look

461
00:25:40,300 --> 00:25:43,200
like we're trust.
Where Winter is where is an

462
00:25:43,200 --> 00:25:47,300
absolute necessity.
It's my favorite thing to think

463
00:25:47,300 --> 00:25:50,600
about every day.
So glad you asked going back to

464
00:25:50,600 --> 00:25:54,700
this blockchain technology.
At least in theory We Believe

465
00:25:54,800 --> 00:25:58,700
again democratizes access to a
more Equitable economy and we

466
00:25:58,700 --> 00:26:02,700
believe in a world where trust
where is an absolute necessity

467
00:26:02,700 --> 00:26:05,300
that it connects everyone in the
world to this economy.

468
00:26:05,700 --> 00:26:08,100
Through what we call, a
universal social network for

469
00:26:08,100 --> 00:26:13,300
Value, kind of a big lofty goal.
But as we said, like, let's

470
00:26:13,300 --> 00:26:15,400
start small.
We're starting with kind of this

471
00:26:15,400 --> 00:26:18,900
secure social wallet concept.
That's an account name on one

472
00:26:18,900 --> 00:26:20,600
side and a Secure Vault on the
other.

473
00:26:20,600 --> 00:26:25,200
The idea is that no longer.
Is it 0 XJ 59?

474
00:26:25,200 --> 00:26:29,700
Something that is frankly scary
to most people and really hard

475
00:26:29,700 --> 00:26:34,700
to manage for even natives.
It becomes a social Alias that

476
00:26:34,700 --> 00:26:38,200
can follow you across.
Us and is interoperable across

477
00:26:38,200 --> 00:26:40,200
all of web 3 in the
decentralized web.

478
00:26:40,600 --> 00:26:43,200
So that's on one side of it and
that's for ease of use.

479
00:26:43,300 --> 00:26:46,100
And then the other side of it is
that secure fault.

480
00:26:46,300 --> 00:26:50,600
It's our proprietary multisig
design, but where does this all

481
00:26:50,600 --> 00:26:52,400
go?
It moves into the social network

482
00:26:52,400 --> 00:26:54,600
of value.
And eventually we think there's

483
00:26:54,600 --> 00:26:57,100
going to be some sort of
interchain App Store that

484
00:26:57,100 --> 00:27:01,100
connects users and wallets to
what, what we are really looking

485
00:27:01,100 --> 00:27:05,000
at is validated apps in a global
blockchain Community, we see

486
00:27:05,000 --> 00:27:07,500
blockchain.
As inherently social, but there

487
00:27:07,500 --> 00:27:11,900
are silos of users and value in
all of these different places BL

488
00:27:11,900 --> 00:27:16,200
ones, l2s Etc.
And the idea with kind of this

489
00:27:16,600 --> 00:27:21,300
interchain interoperable, name
system and the ability to kind

490
00:27:21,300 --> 00:27:25,700
of drop security onto Hot
wallets is that you can start

491
00:27:25,700 --> 00:27:27,400
bringing people from where they
are.

492
00:27:27,800 --> 00:27:31,600
Whether it's on the web to
social layer, which we're also

493
00:27:31,900 --> 00:27:35,500
looking to support and building
to support all the way up to I

494
00:27:35,500 --> 00:27:37,600
have.
Meta masks were bringing them

495
00:27:37,600 --> 00:27:43,100
all together and now a lot more
of the relationships that exist

496
00:27:43,100 --> 00:27:45,200
in real life.
Going back to the kind of the

497
00:27:45,200 --> 00:27:51,500
psychological side of providing
value can be expressed on on

498
00:27:51,500 --> 00:27:54,000
trust where.
So the easiest one and the one

499
00:27:54,000 --> 00:27:58,400
we started is the peer-to-peer.
I can send money or, you know,

500
00:27:58,400 --> 00:28:01,400
or an NST or data to Pete in a
transaction.

501
00:28:01,900 --> 00:28:03,700
That's great.
But let's make a social

502
00:28:03,700 --> 00:28:05,600
difference.
Let's do donor.

503
00:28:05,700 --> 00:28:09,000
Recipient, it's the same tooling
on the back, end, the same

504
00:28:09,000 --> 00:28:12,600
infrastructure that we've
started with on the security and

505
00:28:12,600 --> 00:28:16,100
ease of use layer.
But now we've got, you know,

506
00:28:16,100 --> 00:28:19,700
GoFundMe essentially, but
without anyone taking their cut.

507
00:28:19,700 --> 00:28:23,100
So to speak in the middle which
is the vision that is expressed,

508
00:28:23,100 --> 00:28:26,500
you know, buy Bitcoin from the
get-go right, without

509
00:28:26,500 --> 00:28:27,900
third-party.
So to speak.

510
00:28:28,100 --> 00:28:30,900
So building this infrastructure
layer allows that to happen.

511
00:28:31,200 --> 00:28:33,800
It may allow you and your
friends all with, your your

512
00:28:33,800 --> 00:28:37,700
trust where accounts to go.
And sit in a multisig vault

513
00:28:37,700 --> 00:28:41,100
together, which can be a dowel,
which can be a community, which

514
00:28:41,100 --> 00:28:43,600
can help one of your friends,
buy a house, without the need to

515
00:28:43,600 --> 00:28:48,100
use the bank, or you have a
rental property together and all

516
00:28:48,100 --> 00:28:51,100
of us, you know, all of us
together can get the real world

517
00:28:51,100 --> 00:28:55,400
yield back or you've provided
water for a community that

518
00:28:55,400 --> 00:28:59,800
didn't have it before the
solutions are all there.

519
00:28:59,800 --> 00:29:03,000
Once you've built the bottom
layer, the infrastructure layer

520
00:29:03,300 --> 00:29:06,900
and we see a world where people
can Express the top of this

521
00:29:06,900 --> 00:29:10,800
hierarchical stack, the Maslow's
hierarchy which is the self

522
00:29:10,800 --> 00:29:13,000
actualization.
The expression, they can express

523
00:29:13,000 --> 00:29:17,000
that and be creative with how
they build for this world while

524
00:29:17,000 --> 00:29:19,000
also kind of connecting to the
user's underneath.

525
00:29:19,300 --> 00:29:21,500
So that's like the Grand Vision,
right?

526
00:29:21,500 --> 00:29:22,800
Yeah.
I love it.

527
00:29:22,800 --> 00:29:24,300
How you pull that all together,
Jesse?

528
00:29:24,300 --> 00:29:27,800
And you know we can we could sit
here from our point of view in

529
00:29:27,800 --> 00:29:30,700
the year 2023.
And you know with what is in

530
00:29:30,700 --> 00:29:34,300
effect coming onto a year a year
old startup right but with a

531
00:29:34,308 --> 00:29:38,100
lifetime of vision and Variance
that is built to momentum to get

532
00:29:38,100 --> 00:29:41,400
you here and say, all right,
this is a world where building

533
00:29:41,400 --> 00:29:45,000
for you will get some curveballs
along the way, right?

534
00:29:45,300 --> 00:29:48,100
And you don't want to be Pedro,
cerrano, you remember who Pedro

535
00:29:48,100 --> 00:29:51,600
cerrano is, no please.
He's from the movie

536
00:29:51,600 --> 00:29:54,600
major-league.
He was the player that could not

537
00:29:54,600 --> 00:29:57,800
hit curveballs and you prayed to
a god named Joe boo.

538
00:29:58,400 --> 00:30:00,800
Okay.
So you want to be able to hit

539
00:30:00,800 --> 00:30:03,500
the curve balls, you want to be
able to anticipate the curve

540
00:30:03,500 --> 00:30:05,000
balls that are going to come
your way.

541
00:30:05,600 --> 00:30:11,900
You think you've identified some
of the stitches on the seam of

542
00:30:11,900 --> 00:30:14,300
that curve ball coming towards
you already?

543
00:30:14,300 --> 00:30:16,600
And what do you think that's
going to going to do?

544
00:30:16,600 --> 00:30:19,900
When that ball starts dipping
ducking and Diving towards you?

545
00:30:20,600 --> 00:30:22,600
Yeah, as it approaches home
plate?

546
00:30:23,300 --> 00:30:26,300
Wow.
The the visual there is, it's

547
00:30:26,300 --> 00:30:27,900
awesome.
I remember playing ball with my

548
00:30:27,900 --> 00:30:30,900
dad, as a kid that we've had
taught.

549
00:30:30,900 --> 00:30:33,200
We've had a lot of these
conversations to I think that's

550
00:30:33,200 --> 00:30:37,000
the beauty of of the techstars.
You know, I love the techstars

551
00:30:37,000 --> 00:30:40,300
cohort and of the program is
talking a lot about the curve

552
00:30:40,300 --> 00:30:41,800
balls and having the insight to
them.

553
00:30:42,200 --> 00:30:46,100
So, this is not just me, right?
This is kind of having a, almost

554
00:30:46,100 --> 00:30:49,400
a shotgunner a broader broader
approach to looking at it, but

555
00:30:49,900 --> 00:30:52,900
at the core level, this is a
huge market and this social

556
00:30:52,900 --> 00:30:55,400
network of value idea touches
everyone involved.

557
00:30:55,800 --> 00:30:58,300
A lot of people are targeting
the space and that happens on

558
00:30:58,300 --> 00:31:01,200
the web to side as well as the
web three side.

559
00:31:01,400 --> 00:31:04,200
And more importantly, these are
people with a ton of resources

560
00:31:04,500 --> 00:31:07,000
and the ability to quickly
quickly move into blockchain and

561
00:31:07,000 --> 00:31:10,000
web three.
I like to look at this and

562
00:31:10,000 --> 00:31:13,300
Jonathan and I spend a lot of
time thinking about a world

563
00:31:13,300 --> 00:31:16,900
where we can co-opt our
competition because the purpose

564
00:31:16,900 --> 00:31:20,900
is more important or what we
like to say is the outcome is

565
00:31:20,900 --> 00:31:24,100
more important than the income
but we deal with this really by

566
00:31:24,100 --> 00:31:27,000
leveraging, our competitive
advantages as a start-up.

567
00:31:27,200 --> 00:31:31,100
And that's right now at this
speed and flexibility, we are

568
00:31:31,100 --> 00:31:34,500
really trying to be forward
facing and develop technology

569
00:31:34,500 --> 00:31:36,200
for the Next Generation.
Blockchain.

570
00:31:36,500 --> 00:31:39,900
So this is kind of going back to
that interchain idea, you know,

571
00:31:40,000 --> 00:31:42,500
pulling data and liquidity from
different blockchains.

572
00:31:42,800 --> 00:31:46,500
We think that we can kind of be
small Nimble and work in that

573
00:31:46,500 --> 00:31:48,900
way.
We definitely have concerns and

574
00:31:48,900 --> 00:31:51,500
I know this is stuff.
We've talked about to about

575
00:31:51,600 --> 00:31:53,600
coming regulation as a US
company.

576
00:31:54,200 --> 00:31:57,000
You know, this is one of those
things where we're prepared to

577
00:31:57,000 --> 00:32:03,000
deal with it and blockchain and
crypto web 3 is international.

578
00:32:03,000 --> 00:32:05,100
You know, we've met so many
people especially from this

579
00:32:05,100 --> 00:32:07,300
cohort Art, that are building
all over the place.

580
00:32:07,300 --> 00:32:12,000
So it's less of a concern on a
personal level, but we are

581
00:32:12,000 --> 00:32:15,000
starting out in a way where we
don't necessarily need to move

582
00:32:15,000 --> 00:32:18,300
money on and off chain.
And where it touches the current

583
00:32:18,300 --> 00:32:20,300
Financial system.
I think, is the biggest question

584
00:32:20,300 --> 00:32:25,800
for a lot of us working in this
space without proper regulation,

585
00:32:25,800 --> 00:32:27,800
or at least an understanding of
where it's going.

586
00:32:27,808 --> 00:32:31,100
It's really hard to build for
the future and that also

587
00:32:31,100 --> 00:32:37,000
involves see bdcs, we sit in a
very kind of Sovereign concept,

588
00:32:37,500 --> 00:32:42,600
decentralized self custody role
in this space and there is a lot

589
00:32:42,600 --> 00:32:46,900
of threat to that from the CBD
sees, if they're not implemented

590
00:32:46,900 --> 00:32:51,200
correctly or if they overstretch
into users, you know, privacy

591
00:32:51,200 --> 00:32:54,400
and and can be shut off.
I mean, there are, there's just,

592
00:32:55,000 --> 00:32:59,200
there's many bad models.
That could be done versus these

593
00:32:59,200 --> 00:33:01,000
Dynamic.
Public blockchains.

594
00:33:01,000 --> 00:33:03,300
That we've seen actually work
and continue.

595
00:33:04,200 --> 00:33:07,800
So you remind And our friends.
What CBD c-czar?

596
00:33:08,200 --> 00:33:09,900
Yeah.
It's a central bank, digital

597
00:33:09,900 --> 00:33:12,800
currency.
And if you are at all privy to

598
00:33:12,800 --> 00:33:15,800
the macro conditions right now,
won't go into it too deeply.

599
00:33:16,200 --> 00:33:19,100
But some of those words might
scare you a little bit.

600
00:33:19,400 --> 00:33:23,600
So that goes, I'm not a fan.
I'm not a fan of cbc's, I think

601
00:33:23,600 --> 00:33:25,700
their reality.
I think central banks will

602
00:33:25,700 --> 00:33:27,600
launch these.
I think they're going to just

603
00:33:27,600 --> 00:33:31,000
going to be a bunch of car
crashes before they actually get

604
00:33:31,000 --> 00:33:36,100
one running.
But yeah, it's it's Good

605
00:33:36,100 --> 00:33:39,800
technology, but I think it's
just a conflicting usage of it,

606
00:33:40,100 --> 00:33:46,100
that it that worries me a bit.
It's it's so hard to say without

607
00:33:46,100 --> 00:33:51,000
seeing one that has worked, but
we on the flipside of this, we

608
00:33:51,000 --> 00:33:54,300
see Bitcoin working.
We see many other block chains

609
00:33:54,300 --> 00:33:56,800
that are, you know, that have
reached critical mass and

610
00:33:56,800 --> 00:34:01,800
network effect working really
hard to see worlds where there

611
00:34:01,800 --> 00:34:06,000
isn't some Carnage from one kind
of butting in or forcing

612
00:34:06,100 --> 00:34:09,300
essentially the decentralized
sides out because it just is not

613
00:34:09,300 --> 00:34:12,300
in line with the way that
governments exact power.

614
00:34:12,900 --> 00:34:16,199
Currently, so we'll see how the
world shapes up in that way.

615
00:34:16,699 --> 00:34:19,699
I think the last thing is
farther out as Quantum, right?

616
00:34:19,699 --> 00:34:21,900
Really cool to look at all of
this stuff right now.

617
00:34:22,400 --> 00:34:25,500
But you know this is a
conversation that Jonathan and I

618
00:34:25,500 --> 00:34:29,100
have on the weekends so we don't
cut into our time but it's like

619
00:34:29,100 --> 00:34:31,400
what does this look like?
When proof-of-work gets

620
00:34:31,500 --> 00:34:33,400
potentially compromised by
Quantum?

621
00:34:33,400 --> 00:34:35,699
We have some ideas on that too.
So I bet you do.

622
00:34:35,699 --> 00:34:39,000
I bet you do, you know and it
was good to see in your in your

623
00:34:39,000 --> 00:34:42,300
investor update other things,
you were thinking about for the

624
00:34:42,300 --> 00:34:44,000
weekend.
Including contemplating a

625
00:34:44,000 --> 00:34:47,000
potential pivot and before
anybody gets too worried, a

626
00:34:47,000 --> 00:34:51,000
pivot is actually a kind of ice
cream as it turns out that you

627
00:34:51,000 --> 00:34:53,199
can get in the Canary Islands
where you are right now.

628
00:34:53,199 --> 00:34:56,000
Is that correct?
Yes yes I thought that was a

629
00:34:56,000 --> 00:35:00,200
really funny picture to send to
you guys for a take that was and

630
00:35:00,200 --> 00:35:03,500
then in reading your thesis,
your in your senior or flipping

631
00:35:03,500 --> 00:35:08,400
through your senior thesis, I
kind of saw some more of that

632
00:35:08,400 --> 00:35:11,000
width at the beginning of it, at
the very least.

633
00:35:11,000 --> 00:35:13,900
And, you know, so I I'm
definitely starting to

634
00:35:13,900 --> 00:35:17,500
understand, Jesse Phillips just
thinking about, you know,

635
00:35:18,000 --> 00:35:20,700
there's a lot of things that go
into being a start-up founder,

636
00:35:20,700 --> 00:35:22,400
and there's one that I like to
call.

637
00:35:22,800 --> 00:35:25,600
I've taken this from another
podcast, obviously, so the full

638
00:35:25,600 --> 00:35:29,200
ratchet that I listened to, to
get kind of my masters in VC a

639
00:35:29,200 --> 00:35:34,700
few years ago, if that's a thing
and that they refer to a concept

640
00:35:34,700 --> 00:35:38,000
called the earned secret, right?
And that your life's experience

641
00:35:38,000 --> 00:35:40,500
has he given you in a certain
direction and there's things

642
00:35:40,500 --> 00:35:44,200
that you tend to know that
others, Generally, don't know or

643
00:35:44,200 --> 00:35:46,600
that believe to be false.
So it's something that you

644
00:35:46,600 --> 00:35:50,300
believe to be true that others
believe to be false there, any,

645
00:35:50,300 --> 00:35:54,700
you can point to in your time so
far on this planet that you

646
00:35:54,707 --> 00:35:57,600
could call your earn secret.
Yeah, I am.

647
00:35:57,600 --> 00:36:02,100
I am relatively Young on this
planet and so I don't claim to

648
00:36:02,100 --> 00:36:04,200
be some sort of Yoda or
anything.

649
00:36:04,300 --> 00:36:06,300
Okay.
I Look to Jonathan for that.

650
00:36:08,400 --> 00:36:13,000
But I think the one thing that
I've well there's I'll go Two

651
00:36:13,000 --> 00:36:16,500
sides of this, right?
I'm proof-of-work maximalist in

652
00:36:16,500 --> 00:36:18,200
a defy body is what I like to
say.

653
00:36:18,500 --> 00:36:21,400
So I really think that
computation is just as valuable

654
00:36:21,400 --> 00:36:25,300
as a gold bar and I really nerd
out over the economics of it.

655
00:36:25,400 --> 00:36:29,000
I also think that just is coming
over from the mining side that

656
00:36:29,200 --> 00:36:33,000
that the way that Satoshi built
Bitcoin, it's the energy

657
00:36:33,000 --> 00:36:37,100
consumption is is by Design, not
by accident and I think we can

658
00:36:37,100 --> 00:36:40,100
fix a lot of the environmental
issues that we have right now in

659
00:36:40,100 --> 00:36:42,600
terms of sustainability with
that, which is not a popular

660
00:36:42,600 --> 00:36:44,900
thing.
I've been on many, many news,

661
00:36:44,900 --> 00:36:49,300
channels and podcasts and try to
spin this into something that

662
00:36:49,300 --> 00:36:52,700
the rest of the world could hear
and it almost never works.

663
00:36:52,800 --> 00:36:56,500
It's not the current agenda.
The other side of it is a lot

664
00:36:56,500 --> 00:37:00,400
more personal in terms of the
earth secret, which is, I think

665
00:37:00,600 --> 00:37:08,200
that working working for purpose
is the only is the only way to

666
00:37:08,200 --> 00:37:13,500
achieve something meaningful and
that's an urn for myself.

667
00:37:13,500 --> 00:37:17,400
I spent many years with this
idea that you could effectively

668
00:37:17,400 --> 00:37:21,700
create a nut, right?
Like you could go out there, do

669
00:37:21,700 --> 00:37:25,400
what you're good at in the space
that you are, that you're, you

670
00:37:25,400 --> 00:37:28,700
know, kind of in B.
It crypto blockchain, whatever

671
00:37:29,000 --> 00:37:32,600
your else you're in, kind of
make your nut and then

672
00:37:32,600 --> 00:37:36,300
transition into the thing that
that makes you tick or your

673
00:37:36,300 --> 00:37:41,200
higher calling.
And I think that that is, it's a

674
00:37:41,200 --> 00:37:42,700
privileged way of thinking for
sure.

675
00:37:42,800 --> 00:37:46,000
Sure because I was able to save
up enough and Jonathan as well

676
00:37:46,000 --> 00:37:48,700
to, you know, make a start-up
happen which is by no means a

677
00:37:48,700 --> 00:37:54,200
cheap thing to support yourself
and it's very difficult but I

678
00:37:54,300 --> 00:37:57,100
find my internal energy and I
think we both share.

679
00:37:57,100 --> 00:38:01,400
This is driven by purpose and if
you're not aligned on that, I

680
00:38:01,400 --> 00:38:03,500
don't think you can achieve your
highest calling.

681
00:38:03,900 --> 00:38:07,300
And so that's that's kind of the
earn secret as long as you keep

682
00:38:07,300 --> 00:38:09,900
in line with what is good and
true.

683
00:38:11,400 --> 00:38:13,800
You win, but you win for the
world, right?

684
00:38:13,800 --> 00:38:17,200
So you do and and it gives me
chills because it reminds me of

685
00:38:17,207 --> 00:38:19,500
a conversation.
I have my wife Jessie, where she

686
00:38:19,500 --> 00:38:22,700
said, what's going to happen
with one of these startups

687
00:38:22,700 --> 00:38:24,100
actually hits it out of the
park.

688
00:38:24,600 --> 00:38:28,600
What are you going to do?
I said I'm going to keep working

689
00:38:28,600 --> 00:38:31,400
with Founders.
Yes that's it.

690
00:38:31,800 --> 00:38:35,100
And I know that from your person
having not a mean we went

691
00:38:35,100 --> 00:38:38,100
through the you know the
onboarding process but it's only

692
00:38:38,100 --> 00:38:41,100
been a couple weeks but you are
the type of person that That I

693
00:38:41,500 --> 00:38:44,900
could imagine you know, you make
a billion dollars and you are

694
00:38:44,900 --> 00:38:47,700
still sitting here supported
people because this is what you

695
00:38:47,700 --> 00:38:51,600
love and it is comes out.
It is absolutely what I love.

696
00:38:51,600 --> 00:38:54,700
So know, that, that's so cool to
have.

697
00:38:54,700 --> 00:38:58,900
You bring that out for sharing.
So so thank you, Jesse, listen.

698
00:38:58,900 --> 00:39:01,500
We're at the point in time.
The podcast were we'd like to

699
00:39:01,500 --> 00:39:05,900
ask this last question that we
asked everybody, what's the one

700
00:39:05,900 --> 00:39:08,100
thing that people wouldn't
expect to know about Jesse

701
00:39:08,100 --> 00:39:12,000
Phillips?
Oh man, I am, I can get in a

702
00:39:12,008 --> 00:39:16,500
suit and be incredibly
corporate, but for about 11

703
00:39:16,500 --> 00:39:18,800
days, a year, you're going to
find me out.

704
00:39:18,800 --> 00:39:22,600
Covered in dust at Burning, Man.
Usually, he's yeah.

705
00:39:22,600 --> 00:39:26,000
And and that is, I think a
really important thing for

706
00:39:26,000 --> 00:39:30,200
anyone that is looking at
creating products and, and or

707
00:39:30,200 --> 00:39:33,900
just a vision for tomorrow,
there's so much there beyond the

708
00:39:33,900 --> 00:39:38,200
partying, and the music and the
and the drugs, if that's, you

709
00:39:38,200 --> 00:39:40,100
know, if that's what you're into
cool.

710
00:39:40,300 --> 00:39:43,800
But if you're looking for a
meaningful connection and you

711
00:39:43,800 --> 00:39:48,100
know, people in a place where
immediacy matters and the

712
00:39:48,100 --> 00:39:52,300
ability to go much deeper, And
the ability to look into

713
00:39:52,300 --> 00:39:57,100
someone's eyes and say, you
know, I see you, not for what

714
00:39:57,400 --> 00:40:02,200
facade, you put on, or what you,
what you have built around you,

715
00:40:02,200 --> 00:40:05,800
or what you, what you make, you
know, in terms of a dollar

716
00:40:05,800 --> 00:40:09,400
denomination or hopefully
satoshi's or yeah, I know, one

717
00:40:09,400 --> 00:40:13,500
day, but but for who you are, I
think that's a place that almost

718
00:40:13,500 --> 00:40:15,900
everyone should go at least for
a little while.

719
00:40:16,000 --> 00:40:18,700
Yeah.
And seek out that part because

720
00:40:18,700 --> 00:40:22,300
it is it.
It is a place where a lot of

721
00:40:22,300 --> 00:40:26,300
these ideas start and or get
actualized into things that

722
00:40:26,300 --> 00:40:30,100
change the world and truly a
treat to be fortunate enough to

723
00:40:30,100 --> 00:40:31,800
experience it for multiple
times.

724
00:40:31,800 --> 00:40:35,300
Now truly, and if you just get
that one thing, you get that one

725
00:40:35,300 --> 00:40:39,100
nugget of something that helps
you that you take away from that

726
00:40:39,100 --> 00:40:40,700
whole experience, could be a
little.

727
00:40:41,200 --> 00:40:44,600
I don't know.
Just a frame of mind that you

728
00:40:44,607 --> 00:40:50,200
can put yourself into Upon
command upon demand that you

729
00:40:50,200 --> 00:40:52,600
take with you back into your
life in a way from burning man,

730
00:40:52,600 --> 00:40:55,600
I've never been there but I'd
love to go that you are the type

731
00:40:55,600 --> 00:40:57,900
of person that that would get a
lot out of it.

732
00:40:57,900 --> 00:41:01,100
And also the little bit of
discomfort I truly believe this

733
00:41:01,100 --> 00:41:05,500
discomfort I think is the first
shell to crack before you can.

734
00:41:05,500 --> 00:41:08,800
You know, before you can really
achieve what you what you need

735
00:41:08,800 --> 00:41:10,600
to, and that's an
entrepreneurship thing as well,

736
00:41:10,600 --> 00:41:12,300
right?
Constantly being okay with a

737
00:41:12,300 --> 00:41:15,500
little discomfort.
I hope you time know and and you

738
00:41:15,500 --> 00:41:20,000
know a little word of advice.
Advice that how frequently I see

739
00:41:20,000 --> 00:41:25,300
startups Meandering and
confusing motion with progress

740
00:41:25,800 --> 00:41:28,700
when they fall into a comfort
zone and they go into their

741
00:41:28,700 --> 00:41:31,800
comfort zone of, okay?
I'm going to keep doing this

742
00:41:31,800 --> 00:41:35,600
thing, that that makes it feel
like I'm doing something and

743
00:41:35,600 --> 00:41:38,400
that I'm progressing, but I'm
actually just doing busy work,

744
00:41:39,100 --> 00:41:41,700
right?
So there's, you know, discomfort

745
00:41:41,700 --> 00:41:45,800
is absolutely critical when it
my younger sister kind of just

746
00:41:45,800 --> 00:41:50,700
observing her And that in the
90s she spent that time on the

747
00:41:50,700 --> 00:41:53,000
east coast of the US, the late
90s after.

748
00:41:53,000 --> 00:41:57,200
She spent some time over here in
Ireland, just kayaking and I on

749
00:41:57,200 --> 00:42:02,400
the kind of pro kayak tour and
she found constant.

750
00:42:02,400 --> 00:42:05,500
Change was her Comfort, right?
Yeah.

751
00:42:05,500 --> 00:42:10,800
And that not ever having that
one thing in one place to do

752
00:42:10,800 --> 00:42:13,800
became comfortable for her and
that when she started settle

753
00:42:13,800 --> 00:42:15,500
down that's where it was like,
oh jeez.

754
00:42:15,500 --> 00:42:17,900
I gotta keep doing more.
Stuff, right?

755
00:42:17,900 --> 00:42:21,600
So, that, that is an interesting
trait to have.

756
00:42:21,600 --> 00:42:25,900
But you know, with trust where
we do want that sense of things

757
00:42:25,900 --> 00:42:29,400
not changing that much, right?
No, I mean, at the ground level,

758
00:42:29,500 --> 00:42:32,600
what we're trying to build is is
for forever, right?

759
00:42:32,600 --> 00:42:37,200
We believe that the security
stuff that is coming over is

760
00:42:37,200 --> 00:42:40,200
tried and true.
And it's you know what, the way

761
00:42:40,200 --> 00:42:43,200
that we've implemented on the
technology side I think is

762
00:42:43,200 --> 00:42:46,600
sustainable at least for at
least for the next.

763
00:42:46,800 --> 00:42:50,500
Of major wave of bringing people
into this but a little bit back

764
00:42:50,500 --> 00:42:53,100
to that point.
Like this is also you know,

765
00:42:53,500 --> 00:42:56,700
sustainability comes in your
actual product and it comes in

766
00:42:56,700 --> 00:43:00,800
your business and I'm rather
comfortable with a little bit of

767
00:43:00,800 --> 00:43:03,600
chaos and yep.
And kind of the, you know, the

768
00:43:03,600 --> 00:43:06,700
ups and the downs and the
discomfort and kind of the yin

769
00:43:06,700 --> 00:43:08,900
and yang.
You know, Jonathan is on the

770
00:43:08,900 --> 00:43:12,000
other side and together, we
actually achieve the ability to

771
00:43:12,000 --> 00:43:16,100
be focused which at this stage,
at least is probably the most

772
00:43:16,100 --> 00:43:17,200
critical.
All thing.

773
00:43:17,200 --> 00:43:21,000
So big Vision, small product
that we're releasing super

774
00:43:21,000 --> 00:43:25,100
excited for the future and just
to be supported by techstars and

775
00:43:25,100 --> 00:43:28,400
by your vision as well.
Pete and the mentorship we've

776
00:43:28,400 --> 00:43:32,700
been given thus far as been just
an absolute treat and, and truly

777
00:43:32,800 --> 00:43:36,900
magnificent for our trajectory.
So hope to change the world with

778
00:43:36,900 --> 00:43:39,300
you and with your help.
And I can't thank you enough.

779
00:43:39,700 --> 00:43:41,300
Awesome.
Thank you, Jesse.

780
00:43:41,300 --> 00:43:43,300
And what's the best way for
people to get in touch with you?

781
00:43:44,200 --> 00:43:46,600
I am surprisingly.
Most active on LinkedIn.

782
00:43:46,700 --> 00:43:50,200
Then actually that is probably
the best way but you can also

783
00:43:50,200 --> 00:43:53,000
email myself.
Jesse at trust wear.i.

784
00:43:53,000 --> 00:43:56,800
Oh Jonathan a trustworthy IO.
Would love to hear from you and

785
00:43:56,800 --> 00:44:00,300
if you do manage to find me on
telegram, which is my full name,

786
00:44:00,400 --> 00:44:03,100
I will eventually answer.
So yeah.

787
00:44:04,000 --> 00:44:07,300
All right, super cool.
We'll listen Jesse, thank you so

788
00:44:07,300 --> 00:44:09,700
much.
This was an incredible chat.

789
00:44:10,000 --> 00:44:13,800
I appreciate how deep you took
me so thank you Pete.

790
00:44:13,800 --> 00:44:16,000
Always a pleasure.
Looking forward to the next one.

791
00:44:19,400 --> 00:44:20,700
That does it for this week,
folks.

792
00:44:20,700 --> 00:44:22,500
Thanks to Jesse Phillips for
opening up his mind.

793
00:44:22,500 --> 00:44:23,800
To help us figure out why he
does.

794
00:44:23,800 --> 00:44:26,700
What he does to learn more
about, Jesse Phillips, Jonathan

795
00:44:26,700 --> 00:44:29,600
Frazier, and Trust, we're in the
show notes on our website money,

796
00:44:29,600 --> 00:44:32,200
never sleeps, dad, IE or just
check them out on trust, where

797
00:44:32,200 --> 00:44:32,900
that?
I owe.

798
00:44:33,400 --> 00:44:35,600
If you like what you heard,
please leave us a rating and, or

799
00:44:35,600 --> 00:44:37,600
review on Apple podcast or
Spotify.

800
00:44:37,600 --> 00:44:39,900
Is it helps others to find the
show Mexico?

801
00:44:39,900 --> 00:44:41,900
No, Brophy from create, some,
for mixing and editing.

802
00:44:41,900 --> 00:44:44,500
This episode Conan is an
excellent medium and to get in

803
00:44:44,508 --> 00:44:46,100
touch with when you're thinking
about launching your own

804
00:44:46,100 --> 00:44:48,500
podcast.
As for me, I'm an early stage

805
00:44:48,500 --> 00:44:50,300
startup.
You're focused on where fintech

806
00:44:50,300 --> 00:44:52,900
meets crypto and crypto meets
web 3 and I run the techstars.

807
00:44:52,900 --> 00:44:55,200
Web three accelerator.
There are plenty of links in the

808
00:44:55,200 --> 00:44:57,300
show notes on money, never
sleeps that IE on how to get in

809
00:44:57,308 --> 00:44:59,300
touch.
So don't hesitate to reach out

810
00:44:59,500 --> 00:45:01,500
finally till next time, thanks
for listening.

811
00:45:01,500 --> 00:45:02,000
See you
Jesse Phillips Profile Photo

Co-Founder & CEO, TrustWare