The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Nov 2: Trump or Biden Better for Crypto & Validating Votes on Blockchain?

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https://decrypt.co/46892/use-of-chinas-digital-yuan-nears-300-million Australia Taps Ethereum for Digital Dollar (AUD) Project https://decrypt.co/46887/australia-taps-ethereum-for-digital-dollar-project European Central Bank Asks Public About Decentralized Euro https://decrypt.co/46852/european-central-bank-

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00:00:00
Under crypto Ico this is it occurred. Nearly a my name is Matthew Aaron today on the show digital currencies from China to EU and Australia vote validation on the blockchain and what happens to bitcoin if Trump or vitamins coming up today out of the crib daily.

00:00:25
What's up, everybody? Today is Monday November 2nd 2021 day away from the presidential election and I can't say that this whole week won't have something to do with voting or the election or the economy in the election. I just can't tell that this whole week's going to be devoted to talking about who is the president of States has do we really think it's going to happen tomorrow. Are we going to have a result? I mean, I hope so, but how we going to drag on for a couple days weeks maybe even after that now I'm not going to allow it to drag on that far, but I bet you miss me a lot of amazing questions that come out of the election results or the lack thereof that we might want to be with answer with flashing technology or cryptocurrency and a couple things were to talk about today is volte validation on the blockchain and what happens to Bitcoin in terms of if Trump wins or if vitamins, I mean people are talking about that with the stock market we should also be talkin about that with the crypto mark

00:01:24
Speak of the Market's let's take a look at those crypto prices.

00:01:30
Here we go with money talk and I'm recording this at 3 Eastern Standard Time Bitcoin that $13,523.68 up .2% from over the weekend at 3 a.m. 38548 Litecoin 5396 chain link 1092 and xrp slipping 1% at 23.6 cents over the weekend Bitcoin cost at $14,000 Mark, which is the highest ever closed since January of 2018. Now this is very bullish. I'm going to tell you a couple reasons why I think this Market is very bored. This is not it would be on the price is not Financial advice. This is just me being in the crypto space for about 4 years looking at the prices and if you remember in 2016 that having happened in July and from Joanne until December January of 2016/2017. We had Bitcoin go from Alyssa's call around $500 and slowly move up until hit it.

00:02:30
Yes all time high of $1,000 that happened back in 2013. So it took was called roughly six months to hit that previous all time high. Will Bitcoin this time have in May and is slowly moving up from a point to having and we are now almost was just a 70% from its previous all-time high which is $20,000. $20,000 cycle cycle back again, and I just feel that this is really in a lot of people putting money in a lot of capital is going into Bitcoin. This is why we have a higher BTC dominance in the dumbest today is 63.5% last time this is exactly what happened before is we saw Bitcoin dominance just basically dominate the whole crypto space until that money from Bitcoin slowly fell down into alt and then we had an ALT pump as well. So I'm very much looking forward to seeing if history does Rhyme or even repeats itself and we deceive

00:03:29
By the end of this year or early next year $20,000 Bitcoin and then slowly see that accumulate to become more and more and more higher higher bitcoin price until we see 2x 3x 4X previous all-time high and then maybe even higher highs and then eventually watch that money come out of Bitcoin flow into all coins. Can we see a big rush of all coin prices? Well, we'll see how this plays out. But of course remember this is not Financial advice has been investing voices. It's me trying to look at history and see if it repeats itself and let me know what you think Matthew Araneta crypto Ico. Send me an email.

00:04:11
The election is going to take over everybody's TVs and everybody's conversations for the next couple of days. But with these conversations are always seems like this person won this person one voter suppression disenfranchisement legal stuff here lawsuit over here media opinion the media's opinion, but within those conversations there has to be a solution with blockchain technology. And if there is I'm going to try to find it but my first conversation I'm going to talk to Anna Marie take a shower head of business development of old one Labs raisin. Tell me about boot verification. On the blockchain. Maybe they can help us out. Let's check it out. How is San Francisco doing right now? And how are you guys feeling about the election tomorrow SF is pretty alright, it's you know, California gets lucky in this time of the year in that the weather continues to be well and you know, it's it's the warm fortunately fires are no longer so, you know, right the elections on the other hand swell. We'll see it's it's interesting right? It's there's a lot of questions in people's minds about

00:05:11
Not only which way this will go but also about how much they can trust the elections results and that's what we're talking right. Now what you were talking about Bill verification, we're talkin about what you guys could do for vote verification and what that could mean selection process here and everywhere he tells about one what is volte verification and what it could do two elections. Absolutely. So if you think about it today in 2021, we still do them by mail or in person right? It's a bit Antiquated so to say and that's the case of many countries Moto some elections move digital there still a lot of questions in people's minds about whether they're hack. What about their privacy whether they can actually verify that their vote has been counted correctly, you know, this is because individual around things are still pretty much private and non auditable, you know from if you think of things like Facebook or Google and you know, all the question marks in people's minds about how these large conglomerates are behaving mean you can easily see why it's hard to trust as well. So, what would we here at 1 labs?

00:06:11
Are are thinking of and I'm working on is how how can we solve this issue and dilemma here in 2021. And this comes in the form of this magic of zero-knowledge proofs or is he gets in or is this another name commonly people use which we already are are you know, I'm pretty familiar with Wii U C K start to develop our public box changing a protocol which has been in the works for quite a long time and it's going to be launching pretty soon and one of these cases that were looking into it as you never 5 elections as you said and hear the notion is that if he use your nostrils in the right way, you can actually have digitally trustworthy auditor elections because you have two things. One of them is a state player with Mina, right? Cuz you know as as with anything that's commonly shared. I'm past me to call me access over there has to be a common state layer. Otherwise, you know things live in multiple worlds in the digital world. It's provable Auto to go away and it private way of submitting your boat.

00:07:11
Happening because you're not Spruce. That's where I have a hold up with this and I want you to walk me through this as well because he has listeners know. I'm the skeptic wouldn't ZK snarks zero-knowledge proof that is used in some of the most popular privacy coins right now. Why because you want to hide transactions. We don't want to know who is sending what to wear and in all kinds of different things with elections with voting. You do, don't want to know a couple things about where the bowels came from like Plano demographics. You want to know where it came from what state it came from with cities you can you no cap. The predictive modeling of of who's going to win the election is we can meet a look back and go this is how they voted that time. Are they going to go with this time one? Can you preserve all of that information? And in the other one is it's a song about auditing elections. You're also talking about I vote for for this and make it your account if that's hidden. How do you know that my vote is being counted Matthew vote has been counted or anybody visuals persons those being counted. How do you

00:08:11
Make that convincing for the voter ID by not just telling about math while I'll start the latter question. It's you you do it by using math. Right? So the way well no, but it's it's it's math that can be easily verified by someone and using me know clever you extract so when I exam blog give is zoom out of the blocks and roll for a second, you know, we all use internet browser green or Nikon right that you will learn to look for. Otherwise, he's math right on that uses. Probably try to keep her cryptography using Excel as soon as yours and then other stuff and you know, you don't need to verify the math me on Tuesday cuz we were using open-source soothing an hour. Then we were all used to try to learn to trust that. Greenlock actually means, you know, what is meant to mean which as you know, well this this I'm actually on Google or medium or whatever right? And I'm not being fish in a similar way.

00:09:11
Do you know what screws or snarks, you know, we're still in the very early days. But you know, you can easily add the right level layers. Are you a kiss and say you know, hey look up Matthew you see the ballot right? And you have this program on your computer, which if he uses ballad it is a unique identifier which you know, we've all learned also to use in in blockchain cryptocurrencies right now in a dress or whether it's your transaction hash and you submit using that number which is basically your ballot your vote, right? And this leads into the second question. We're like you okay. Well, how can I make certain things non-private and such that I can use some of that information auditable to set then they don't necessarily imply like privacy in and of themselves in fact and Mina are blockchain, we that it's it doesn't have private transactions by default reasons. You're not supposed to basically fix the boxing and effect size.

00:10:11
Here is well. You can keep or make things private in a slice of matter. Right either you only make your your name and who you voted for private, but everything else can be public whether you know, which which demographic group you belong to me the way you noticed by more when you put it that you know is all of these things can be made public but just, you know hide the crucial bits, which you don't want to review for the rest of the world and basically, you know, allow for someone else has to be done in the election. But, you know keep the right things private. What would you say to the average consumer? The average person that is listening to this that how this could change the landscape of Elections Global Weldon no-brainer. I'll come in my mind. Is it just you know by now drastically increases voter turnout, right? One of the reasons you can end. This is a very frequently discussed all the same franchise minutes and then other issues that happened because of logistically voting is hard and not easy to access. The second thing I can think of is that it based.

00:11:11
Make selections much more frequent weather. That's the right thing or about the good thing or bad thing. I'm not one to find out if I have no expertise in this world, but at least it gives you the option right? So what if what happens if instead of four years we vote for every one year or what if instead of delaying certain about measures such as all the propositions in and local governments are in the US or other countries, you do those more. Dynamically whenever they're supposed to be right there and brought up or voted on so it just adds a whole lot more flexible than utility because now things are digital then there are more accessible. I see I really with you with that. One of that is about the frequency of voting. I would love to see a space where the constituents of representatives are voting constantly throughout the years. I'm different things at their representative should be voting on TVs hear how their population their constituents feel about certain bills Laws of Power season, and so on and so forth. Hey, man, I really appreciate you coming out and talking all about this good luck with everything and Matthew. It was fun.

00:12:10
You know, I feel that I vote the way I vote because I feel like I want to help shape the way the country should be and when I hear the can't speak listen, and then I go that I resonate with that. You're going to be the guy in office. Let's get there. But when I am voting and put in that boat in the Box, it doesn't mean that all the changes that I'm voting for are going to happen. And actually Sometimes some changes are not even discussed. Especially what happens to the crypto space if Trump or if Biden wins over that conversation, I reached out to Autumn Festival of CEO of Asics jungle to chat about that. Enjoy. Look man. Tomorrow is the election here in the United States Trump Biden, you know us in the crypto space. We're wondering what is going to happen to the market wasn't happened to bitcoin if either of them get elected. Look I always look at it like, you know Obama he was elected and a Bitcoin was

00:13:10
Born during his administration and it hit $1,000 while he was in office. But you know what 20,000 while Trump was in office. What do you see for the future, sir? Smoke covering the guy I mean, he's just not he's in favor of monetary stimulus Houston saving all sliqe money Printing and everything in general, which I think is a scenario for Bitcoin and four seats having commodity such as such as gold as well in general. I think actually we might just hitting the ball the market crashing because of the economy with that some CeCe country song up more how US Treasury switch in my opinion the key printing more money to give that stable and inevitably in my opinion that's going to leave.

00:14:10
Huey and eventually potential ya a dollar crisis, which would be the the best case scenario for for for for Bitcoin and other guy as a safe haven assets to to keep Rising price ecovadis far from over. We're seeing a spike around the world as especially in Europe and the United States could be coming, you know, then if it lockdowns come work anymore pay out who did this going to put more money for a 2.2 trillion dollar bills symbol is Bill the Republicans are aiming for a little bit lower without a favor for my body. So this is really a favor off while printing more money. I'll definitely help you cut me off. I don't think about Bill companies that shouldn't be on the market outside. We will need to keep overtraining stimulus checks because I think it wouldn't be the case if the economy was in good shape. So it's really tough question to answer my opinion will C wood.

00:15:10
Metal Sonic Racing Pro coming from both people look at Bitcoin if you pick one being a safe haven. Do you think that these say outside policies China Iran, the EU Paris climate Accord you think smoothies have come into play 23 sing in in popularity file for such a purpose. I think the message to its wait and see how to be able to reduce to be a little bit less volatile will be because it's a large number is the more people will be in the Bitcoin Network. The more money. They will be flowing into the baseball Network. That's what we should expect to see because it would be

00:16:10
Individual players individual actors in that sense. I think I'll still going to happen about the Terrace of China. Is it not going to play any part in bitcoin price or the Future Trunks in North America is holding between depending on the Time of the Season between 12 to 15 17% off the streets are the percentage of the Network stars. Definitely affecting the mining industry North America 25% and more Darkness print boarding. My decision makers want to go through North America for ear foreign sources are really getting some of the unit. So that doesn't think about what we having seeing use any person transfer on the part of some of the money by Charice and relocating their manufacturing capabilities to out to Southeast Asian countries such as Malaysia brother Lucy little bit more of Vietnam in the future. So it might be in the market will adopt the manufacturer to adapt to any sort of Direction.

00:17:10
Look at you to places where they can they can produce my nurse and not be subject to any of the various items. I want to say. Thank you very much for coming on the show and thank you very much for talking to us about the future of the u.s. Election. Great. Thank you very much for having to do.

00:17:25
And finally another news more than two billion digital. Your aunt has been spent in approximately forming separate transactions according to balance. The governor of People's Bank of China this equivalent to just under 300 million dollars. He said in quote for a long time. I see that we will have cash & digital currency coexist in the future and quote while China seems to be ahead of the curve for the digital currency field. They're still much more work to be done during Hong Kong spintech we conference where he was speaking. He said there remains I need for a fairly complicated in fairy complete legal framework to be created in Australia Central Bank has announced plan to explore the use of digital currency. The project is said to be completed by the end of 2020. I'm a little skeptical with that. Let's see hers actually completed. That's pretty big Australia's plans involve the use of an aetherium based platform a partnership with Commonwealth Bank National Australia bank and perpetual and consensus software the Europeans.

00:18:25
I think it also asking the public about the kind of digital Euro they want to use in so they opened up a survey and where those questions are shouldn't rely on intermediaries. That's a very big question. What do you think going into another question is why digital currencies all of a sudden? What is the big plan? And what's the endgame if you want to take a guess as to why it sent me an email Matthew in at the crypto Ico.

00:18:51
Thank you very much for listening to this episode of the decrypt daily. My name is Matthew Aaron. I'll be back tomorrow election day with more crypto news. Happy Halloween everybody. I'll see you tomorrow.
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