The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Oct 28: OpenZeppelin CEO, MicroStrategy, and TRUMP Website Hack

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From the Crypt azio. This is a decrypt daily. And my name is Matthew earlier today on the show PayPal's crypto play legitimizes. Bitcoin says micro strategies CEO hackers attack the Trump campaign website and open Zeppelin makes a tool to defend against defy risk all coming up out of the crypt daily.

Yo, what's up? Everybody? Welcome to the show. Today is Wednesday October 28th, 2020 in a minute. We have a conversation with Co-op open Zeppelin and we're going to talk about ways that he is helping the device face prevent hacks know we've been having hacks all over the place. He ham was a disaster Harvest just the other day 34 million there and won't he might have a solution for people to come in his face a little earlier and more secure the remains that conversation is our main conversation today. But before we go into that, I want you guys to look at a link that I had below and I got this from my buddy Paul McNeill the crypto curator who's been on the show many times and you will still continue to come on the show and this link is from the world economic Forum of 2017 and their predictions for 2030 and I just wanted you guys to listen to it because this is scary. He said it the other day it's scary. But but I didn't understand what he meant by how scary it is until I started thinking about this and the number one Ford.

From the world economic forum for the world in 2030 is you won't own anything you want on a car? You don't own a house. He won't own any appliances. You don't own any clothes and this is like one of those wow Eureka moments because we see the Shifty consumer Behavior right now to basically renting everything or subscribing subscription services to everything. I mean back in the day, I'll go to BestBuy or Blockbuster even and buy movies. But now I have Netflix. I used to have the biggest CD collection of all my friends. I had hundreds of CDs now, I have Spotify. What do we really own? And we're can subscription Services continue to just fill are voids of things that we want to have at $10 or $20 a month clothing is an interesting. Imagine if I can get fresh new clothes every month or so for Subscription Service of maybe say seventy eighty dollars a month fresh.

Crispy and clean every day of the week for every occasion and imagine when car starts be self-driving and you don't have to own a car. You just call it up a drive to your house immediately. They're parked over the place and they take you to your destination. Maybe you can even get on their app and schedule them. So you don't even have to call you don't even have to wait. It's just like having a car but it's not yours Subscription Service. What can you really own anymore? I mean to have cash you can have gold. I mean if you could keep it physically, I don't even know where people keep cold anymore or if you keep gold. I never had gold. You can have Bitcoin. I know exactly where you keep Bitcoin in your Ledger all your hard wallet Cold Storage, baby. Do not keep it on exchanges. There's my security for one one for this episode that exchanges and real estate is right. You can own real estate and I say ish because if you don't pay your taxes, you don't pay your HOA fees they can take your property away.

But can the snowball can this really snowball into more and more of your daily life Necessities our asses just being rented. I mean, come on look 130 people don't even own a house 130 people in the United States rent. That's forty-three million household. I didn't Own Furniture until the last couple years because I always rented and I rented at places that were fully furnished and only till I bought some real estate did I start putting furniture in it? So this concept of not only anything by the year 2030 is very interesting and I would love everybody to read article that International nose do a deep kind of thought experiment of what that can look like and think about the things that you don't own right now that you used to own like I said movies music. I mean my pictures are in the cloud on my Apple devices. I don't have a physical picture anymore. My whereabouts are owned by somebody else. Somebody knows by my Apple watch.

Find my computer by my phone by my car even that my GPS is somewhere and they know where I am. I came in hide from anybody. And like I said, my real estate ish is not completely owned by me but it is if I keep pay my taxes and my HOA fees, so do a deep dive and then juxtaposed that to the importance of say owning your private Keys keeping your crypto safe and secure in your own possession in the power of that the power of owning say an asset gold cash Bitcoin and the power that could be taken away. If everything goes Safe digital or were you services that give you Bitcoin but I just kind of like I'll use or custodial so he died with this one. I thought was very interesting. And now after a 5-minute intro rant. Let's take a look at those crypto prices.

The original Money Talk recording this at 2:30 Eastern Standard Time in for the all of you guys that says that Bitcoin and cryptocurrency. Do not follow the stock markets in their independent. And there be a CEO come on. The stock market is falling and so is the crypto Market Bitcoin is at $13,185.85 down 3.65% from yesterday, ethereum, 38460 down 5.9% from yesterday Litecoin 5559 down 4.45% from yesterday chain link 1146 down 7.3% from yesterday and xrp 24.6 cents down 3% from yesterday. Total market cap for all of cryptocurrency is 392.2 billion dollars worth of BTC dominance of 62.2% Yowzers today hurt do not panic because of a big pool back. We are still at 13th.

Thousand dollars y'all but also don't say that. This doesn't follow the stock market it follows that I have not seen it once not be correlated with ups and downs of the stock market.

And coming up with our conversation with Damien Brunner CEO of opening Zeppelin talkin about his solutions to make beef eye more secure and I'm very good. Thank you very much, sir. Article published chips at 2 to defend against ethereum. D virus, you know what there has been hacks in defy quite a bit lately, especially when we're talking about harvest the other day 34 million dollars hat because so they say it's a bug they said it was a problem. Can you tell me what a little bit about the accident happening and then go into what open Zeppelin can do to prevent this in general is Cody powers real money. So when you have a problem with a code then my niece iPhone and there's a problem in particular would happen with Harvest was that the attacker use the flash known to manipulate price was able to siphon money out of a harvest ball. This is not a known exactly something that happened previously. It was freezing.

What happened to PCX vertical a couple of months ago security to be permanent and our approach and open Zeppelin are our mission is to protect the open-economy. So everything we do with our products and services are Target to facilitating developers lies, but building with already security best practices build any free software that is an automated process. Can you tell me a little bit about how that works in? How can you know that a guess my question is when I see free software. I always think like there's always be a paid version or a person that's going to be better. How do you automate defy? How do you activate auditing? How do you automate security? So like we take every comprehensive approach to Social Security that involves different aspects for building inspecting and managing your code. We don't think that either way you Skate City.

Previous by skating them are always looking at looking at smart contracts, but no building with the right security best practices in that respect. We built like four years ago the most popular library for smart contract development call opens up when contracts open Zeppelin contract provides raise my contract lawyers that produce can use to build their own applications over 2 million. Download. So it's very popular. Then we contact security audits too many of the big names in the industry compound coinbase Ave unit Swap and through all these experiences. We learned that there's no comprehensive solution. There's no way to automate security bar ways to deal with security best practices. That's what we're doing with the fender. That's our next step free on Testament right now minute usage has a paid version. So if I'm getting this, right, this is basically a template is a smart contract template that's been audited that people who just basically plug-and-play tube.

They're defy or smart contracts with that's the open Zeppelin and contrast Library which we launched four years ago. That's if she popular openzeppelin Benson top of that and provides you not only the tools to build stuff but also the infrastructure to manage it free samples. How do you change a barometer in smart Contra? How do you upgrade a smart contract? How do you say things tend secure transactions your smart contract? How do you access security best practice everything that involves specially Beyond wants a protocol is released my net. Okay, so I'm still a little confused. Then what is Defender security operations platform or developers to be able to build on top of that using security best practices. That makes no sense to anybody. That doesn't do this. What does that mean? Does that mean? It's a template does it mean that the list of checklist does it mean? Like what is a bite my wife give me a grocery list to the store. You just put that in the way I did I get the eggs. I got the eggs.

That mean that that's a good question. So you're smart contracts to open Zeppelin Defender, but you can use your own Melissa Wallace and you hold on you own your own private keys, but you just uploaded to manage them were really nice used Ranger Price Rite Aid Ave u s for smart contracts understood understood. So what does this mean for the future of defying smart contracts? Do we do you think that if people like yam Harvest, you know switch to you know, using your openzeppelin and Defender to you know manager smart contracts, we we can just eliminate hacksaw together if we look at them.

Don't have as much security province of an Aries has a new one. That's because they have more experience more learnings more resources and more infrastructure bill. So the question is how will you provide the new Commerce and then you created people building amazing things with the same infrastructure that a compound house or eventually coinbase with house. That's what Defender offers to again back to my question. What is this being for defying people who are running smart contracts, even if they're new or old I mean, how does this this solution that you can you are giving the crypto space going to change the crypto space one one problem in that project. They need to find a balance between moving fast to Market and getting processed faster while also being diligent and reducing the risk Defender kind of addresses that issue by providing you off the shelf infrastructure or red. With security best practices teams can build faster than ship faster.

You're right. I mean away faster. We are having to worry about all the things are not core to their own area of expertise. So what that means to defy, I believe and this is why we're building it is we hope that more people can experiment with a singularity with all that more people can be that amazing Four Lokos. An amazing applications are really useful and created open economy in a much faster accelerated way. They mean, that's what I wanted to hear Damien. Thank you very much for coming on the show and tell me about your new project in your new release. Appreciate it. Thank you. Thank you for having me.

And another news anchor said you see y'all Michael Saylor said that PayPal's crypto play is legitimizing Bitcoin. He said it's on his Q3 earnings call introductions. The crippled training square is $59 Bitcoin purchase as a way that Bitcoin is being legitimize. He himself was a skeptic in 2013 when he said Bitcoins days are numbered he had a change of heart where he now holds personally 17732 Bitcoins, which you bought for get this town might want to sit down for this he bought for 175.2 million dollars at an average cost of $9,882 a piece which by the way today is worth 236.2 million dollars, and he just gained about 60 million dollars Michael good job. I hope it pays off.

I hope it pays off for all of us.

Motor has authorizes first regulated crypto public offering after 2 years of deliberations regulations billed as the most Innovative in the world were first announced in 2018 and start as flat to the island seeking regulatory approval. The recipient is v a i o t now that's a word. I don't know. Anyway, which develops a I power Services business the country's regular is still has dozens of applications under consideration multi receive 343 crypto license applications in 2019 alone, but none were approved until now to achieve for the story of Fruitvale for its forthcoming. Toca's El VY it had to demonstrate that proper procedures were in place to prevent money laundering and terrorist financing the project going through security and smart contract audit with a provider approved by the Maltese authorities.

And finally hackers attack Trump website and ask for Monero for 1/2 hour today potential supporters of President Trump. We're unable to access his campaign website. Say the magic words. They were however able to send Monero to the hackers responsible for hacking 30 minutes of fame to post a notice saying the site was seized and the world has had enough of the fake news spread daily by President Donald J. Trump play with replicas seals of the Department of Justice and the FBI Trump campaign spokesperson denied that any sensitive data have been taken from the website, which is now back to normal to those hackers that hack that website and ask for Monero. You're an idiot. Why would you do that to the president of the United States like him or not? He's the one that's coming on the ear of everybody that's going to force regulations on the crypto space if you like your Monero if you like your cryptocurrency,

You like your hacking scams? Why don't you just leave out a couple people alone? So they don't like think about crypto a lot and don't put strong regulations and make our lives difficult. How about that? Yeah, you're an idiot.

Thank you for listening to this episode of the decrypt daily. My name is Matthew Aaron. If you want to send me an email Matthew Aaron at the crypto Ico. If you want to see my lives and the videos of these interviews join my Facebook page the decrypt daily Facebook group The decrypt daily, and don't forget wherever your listen to this make sure you're subscribed like share and leave us a comment that helps us stay visible. Thank you very much, and I will see you tomorrow. Happy paddling everyone.
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