The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Oct 30: Alpha Finance, Conflux Mainnet, & Bitcoin White paper Anniversary

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From the Crypt I see how this is it equipped daily in my name is Matthew Aaron today on the show. We have three conversations with three different projects the first Alpha Finance talk about their partnership with Zion Bank Highland II is talking about conflict is mean that Lodge and open defy and 3rd. Happy anniversary to bitcoin whitepaper coming up today on to the Crypt daily.

What's up, everybody? Welcome to the show. Today is Friday October 30th 2020 before we start today show. I want to read again the names the winners of the contest to win the silver Manifesto written by David Morgan and a Bitcoin T-shirt If you are coyote came to in the suing or floating 20/20 send me an email at Matthew Aaron that decrypt. Co that Matthew Aaron at the crib. Co and the thing about those crypto prices.

Here we go money talk at 3 p.m. Eastern Standard Time Bitcoin is down .4% sitting at $13,500 a darium 38205 down 2.4% Litecoin 5375 down 3% chain link 11 10 down 2.3% and Sarpy 23.8% down 3% Let me see there's a correlation.

Hey Siri, what is the NASDAQ?

Hey Siri, what is the Dow Jones?

What about the S&P 500 nothing to see here folks total market cap for all cryptocurrency is 394.9 billion. The BTC dominance of still going up 63.4%

And like I said in the introduction, I have my first conversation with Alpha Finance about their partnership with Siam Bank in Thailand. Enjoy.

Tell everyone welcome to the Crypt daily. I'm not going to try to do your guys's names. So if you would can I just go around again briefly introduce yourself off of Finance background in traditional Finance as well as a product management at 10th. And also right now I'm eating engineering block and research it a Top Again. Hi guys. The leading bank here in silence. And you guys are all Alpha Finance lab in Alpha Finance lab is working with SCB 10x is a measure of Siam Commercial Bank this partnership about we how you guys are working with them. And what does that mean for the digital space IndyCar products adoption?

That's going to take a long time. But we already start to work with the largest bank in the venture out of the largest thing here is really to drive to education. Right so that would really set the path to long-term impact and really get the mass adoption going when he finds space is ready. And on the second front we are working on a partnership and an really helping to develop more of our products that will be Innovative and capture the remaining Define and make it user-friendly. So so when more mass adoption comes then we are ready to take on an Android device pays to reach that point a project that I said Alpha Phi Alpha Labs Alpha Project Nippon. What what is Alpha Finance do in general overall?

Right now he's fine. What is missing right now in the B5 and then quickly no problem, like open Falls right now. We try at Target. So if you've heard like a like a lost when you deposit for tonbo silky, so how do you solve that how to tell if users had like heads on that versity while like you for me if it can be so I would say I'm 12 right now, but we try to tackle them in the long hair that require more time invested, but it might be worthwhile. So so we back track and also like on the what research-driven track how do you think that these defy can reach into Thailand with the same Commercial Bank? What do you think? The future is for Thailand? Thailand is a robust economy.

Free tourist driven economy, but what do you think if I could do for the Thailand economy? All 12:15 million customers right now and there are number of people who can access a normal Financial Services, right? You know, I normally Traditional Bank you have high cost, you know, it's not scary and we really believe that isn't wise Finance is the future. So at the end of days I'll come back to the customers and the people you want to serve we believe that we can lower cost of the Bastion technologies that are sold in the skeletal the type of the blockchain decentralized finance nature first and see how things go so that that's the first part and we are working closely with a regulator. We working with them on the stable coin and a number of projects that we would like to bridge the educating but you know,

Small project projects and dozy beaky a result and get a learning from that and I think we believe that we can reach that with her and I guess my question was not about lower-cost. We all understand that that's why cryptocurrency is hear. My question was what do you think defy to send my spine is a new way to take loans invest Amino micropayment does a whole lot different is a whole lot different strategy of one saving money living your life using your assets to collateralized for business or projects or or or living. What I'm asking is how does this baby change the landscape of Thailand very focused on the landing party bow here need to get access to the financial service from the bank.

The Technologies on the DAV thing on the living space that would that would change a lot. If you can get there before I have to go back to Thailand is also very much in the news these days. There's a lot of talk about the aristocracy in in in Thailand the king the royalty of Thailand of their wealth that the way that they live their life as well as schooling and freedom of speech. Do you think that defy can move Thailand into a different political atmosphere or do you think that that is totally separate in something? You just want to stay out of it make sense to ask a question when there are some gaps between freedom of speech and and how decentralized world. Can I please enable stats and I think we are, you know, hopefully in the long run we are going to make an impact on that certify in a financial way first, but as we start to grow the decentralized way of working and and mindset hopeful.

We can make an impact in other aspects as well. And of course it's going to take even more time let you know we're here for the long run. So but I just don't think that we are hoping to to do as well. I have to make this General and I don't know who wants to answer this. But what brought you into working with crypto and blockchain is why I mean, I heard, you know different universities MIT Stanford and there's a lot of different career paths. You can go then emerging technology that's fraught with would say a lot of bumps in the road scams project. I just don't get off the ground a lot of government-funded if you will, why not do something else why defy why blockchain a freshman at MIT and then there was an experiment that basically they give everyone a hundred bucks worth of bitcoin just to see how they would spend it.

Lately, I ignore than 2014 then back in 2017. It was like a 12 x. I don't know whatever I did that book me give me interest to read more and read more into Bitcoin or ethereum, right and I got invested and then I started learning by myself. And then you what is your internet enable? Like it is not just like a cryptocurrency right? It's more if you can bring any smart contract and an executable program online with everyone knows what it is. If you understand the code the coldest beer you can do whatever you can do will be fine. You can have lending you can have a picture you can have any Financial flag that is similar to what centralized or institution offers but without kyc weather.

Any biggest work right anyone can get access to it? So that's what invite me to learn wine and contribute to this face Levi's face and it got me from here. I'll Finance I would like to say thank you very much for coming on the show is sharing some of the ideas with me talking about everything I wanted to talk about and I hope that we covered everything you want to talk about good luck with your Venture and I'm excited to see what comes out of Highland and because of the southeast Asia honestly is pride the most Progressive when it comes to blacks and cryptocurrency. So I'm excited to see what you guys do. They become an ISO.

Open defy and conflux bridging East and West for this I will come on Eden dhaliwal Global managing director of conflux. Hey, thanks, man. Look, we have some big news coming out of defy and conflux today. But you know what? I want to know a couple things that you guys are doing your yellow main net launch and we're talkin about open defy. I don't know anything about open D5 food to give me a summary what is open 3/5 and then talk about conflux is mainnet Launch Open Defy is a global initiatives that we're putting together. It's bring the top players in crypto and China together with the most established defy projects. Basically, the goal is to drive liquidity security and innovation in the space and then you know beyond that. I mean we're trying to just get beyond the tribalism in the space right and build these bridges that are like East-West see if I defy across blockchain.

Why is it important to build Bridges? What's the difference between East and West why is that even an issue? You know there's there's definitely is for a cultural issues around building business Partnerships. There's a there's no trust issues. You know, when it comes to sort of views on business in China working with Chinese collaborators for conflux. You know, we're we're we're certainly arguably the most influential project in China and where the most trusted in China. So we wanted to take the leadership in open D by the skettis global collaboration kicked off and then you know obviously are mainnet launch is is you know, something that's on chain that's going to help sort of this blow-up assets between James we think that's important for both markets. Awesome. So tell me a little bit about this main net launch. What is it going to facilitate? What do you what is this black Shane this platform going to do for this as you said?

This collaboration between East and West high performance developer-friendly blockchain rite-hite EPS high-security solidity compatible zero congestion low fees. So when it comes to, you know building daps particularly, if you're focused on you know, the China Market, you know, we've got interest in, you know, various projects that are focusing on gaming focusing on defy. We're obviously a great network access that markets beyond that, you know conflict can be used as a layer 2 scaling solution. We're seeing a lot of you know projects starting to consider and move to other blockchains and look at new new alt to scaling Solutions. So that's really our role in the space. And you know, we're not a you know, if you're in collaborator where we're in a serum colleague and so, you know, we we're just looking to support the greater blocks in community as a whole also. So that's a solution for ethereum.

We can be we can be we are aleurone blockchain, but we can be plugged in as a layer 2 scaling solution as well. So I'm always skeptical in a little bit curious about other people that are growing out black could help me with this. You know, I've seen many people grow out black change, you know from EOS to you know, a DE to zilliqa or whatever. They know what a lot of them are better than aetherium a lot of more faster a better throughput a lot easier to build on but people still go to a 3 and why you're blocking then unblocking that works or not. They will be on the technology right there about Community has this incredible Community ride the conflux I think was unique about asses if we are building we can uniquely build our own community in China, right? Because it was this this project launch at a China we kind of have the language cultural advantages of creating a localized community so our Network, I mean our community is something that we feel

We're going to be about it be able to establish and we don't see blockchain network says that you know, how competitive we see them as a collaborative almost like Network economies that could be self-sustainable. The way countries are last question of this might be a hard one and again no offense by this but I got to ask it snow just like ico's in 2017. Are they Russians? Make an Ico raise money in your people got rich people laugh project project into work now is defy defy sound like the next thing, you know, you would have liked Sushi taco or whatever exchanges black chains and whatever is this a money grab or is this really something I want to run to say is what is the future goals of this? And how do I guarantee that your future goals are around the growth the space not the growth of your bank account. It's a good question. I mean, I think unfortunately whenever you have a a space that's that is frothy, right you're going to get the good word and

Clone, and you know, and then you're just a short-term miss that are just basically looking to make a box, but I think you'll see the big focus is that the projects that have community of the ones that last and even if you look at Sushi swap, I mean they were able to kind of make a splash early on but, you know ever since you know as times go I'm going on you haven't had the community that kind of sustained that that that growth. So it's really all about you know, who's building Community who's building an ecosystem rather than some sort of short term in a financial game. Don't chase the yields Chase Chase the community right on Eden Valley Wok little managing director of conflux. Thank you very much for coming to show and talk about your project. Thanks, man.

And finally our last conversation today I have on Mooney Ali co-founder of black stack and we're going to talk a little bit about the anniversary of Satoshi Bitcoin whitepaper. Tomorrow is a very special date. It is the anniversary of the Bitcoin whitepaper. Can you tell me one the origins of the Bitcoin whitepaper? Where are we at with what the Toshi's vision is? Nothing to do with Bitcoin Satoshi Vision, by the way, bsv and are the future of that sir more and more important with every passing year and people are if anything like they're coming around to see more and more of them in the original paper. Let me ask you things over here. Imagine how much fines and regulations are on people's minds music.

You know the Kick vs SEC game the court sided with the SEC because it was done with my starred in the original tickle comments about how other users get off washing, but she wants them to share with the security and the power of seeing where people are not talking about.

Are in the four corners and I think it's heading in that direction bread becomes the standard protocol for value for how do you write in an appeal is happening outside, but I am of the opinion that if you were going to tell us the overall biggest success of the Bitcoin whitepaper over the past 12 years. What would that be? The biggest success would be the focus? That's it though. She had on creating a sovereign walking like it was all about I think different like you even if you look at protocol parametres, like how are you are you up to my certain things has really good.

Ford with a system that is very hard for any single party to control and I feel like that single thing is so valuable a guy that is in many ways. I'll be the only thing that matters right because whichever put a call ends up being this, you know protocols for value on the internet needs to have that property. That is truly. Sorry. I like no one can can control that system and we just need one such thing. We just need one such sort of Truth and its really soft with everything else as a dimension can then chemistry stuff on top of that sort of inside and optimization is something that really stands up 1% in last question I have because this is you know, 12 years already with Bitcoins does Satoshi white paper? Do you think that the white paper will stand the test of time for another twelve year sir?

Bitcoin has a live bug Bounty. If there's a flaw in the consensus protocol or in the code, there's a live Bounty for a hacker do a secret try and grab that money. We see this on aetherium, right? Like if there's a bug in a smart contract and exploited you will see that you know how someone is on top of that and it raining money out of her out of a contract the bug bounty on on bitcoin is just going up and yet no one is claiming money Valley. Thank you very much with my show and I guess we say celebrations and congratulations to bitcoin and Satoshi white paper.

Figure listen to this episode of the decrypt daily. My name is Matthew Aaron. Please go to Apple podcast And subscribe rated 5 stars and leave us a great comment. It helps people find the news the crypto news not NPR. Fox, not CNN, but the Crypt the best news out there. Have a great weekend and I'll see you on Monday. Happy Halloween.
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