Summary:
In this episode, Naman discusses his background in traditional finance and his interest in the intersection of technology and finance. He talks about the focus on central banking, interest rate policy, and the plumbing of the financial system in his work at Citadel. Naman also shares his observations on the changing perspective of traditional finance towards blockchain technology and cryptocurrencies. He highlights the potential of blockchain for improving settlement processes and reducing time lags in financial transactions. Naman mentions HQLAX as an interesting application that aims to enhance repo transactions using blockchain technology. In this conversation, Naman discusses the potential of instant settlement and T+0 settlement in the financial industry. He explains how HQLAX is working towards achieving this goal by verifying and authenticating transactions on the blockchain. Naman also highlights the importance of privacy and anonymity in decentralized finance (DeFi) and the challenges of balancing them with regulatory requirements. He emphasizes the need to protect vulnerable investors and prevent scams in both traditional finance and DeFi. Additionally, Naman explores the role of digital assets in global financial structures and the potential for countries to include them in their reserves.
Chapters:
00:00 Introduction and Background
03:06 The Role of Central Banking in Traditional Finance
05:12 The Geopolitical Implications of Financial Architecture
07:34 The Increasing Relevance of DeFi and Blockchain in Traditional Finance
09:34 Shifting Perspectives on Blockchain and Cryptocurrencies
18:54 Blockchain Technology in Traditional Finance
25:18 HQLAX: Enhancing Repo Transactions with Blockchain
28:27 Technical Difficulties
28:42 Instant Settlement and Authentication in DeFi
31:11 Balancing Privacy and Regulatory Compliance
33:52 Financial Innovation in DeFi for Retail Investors and Microfinance
36:35 Scams and Bad Actors in DeFi
38:47 Protecting the Vulnerable in Financial Innovation
40:14 Bubbles and Behavioral Elements in Financial Innovation
41:44 Tokenization of Assets and Regulation in DeFi
42:20 The Potential of Digital Assets in Reserve Portfolios
44:33 Digital Assets as a Component of Countries' Reserves
48:18 Factors Influencing the Adoption of Digital Assets by Countries
52:22 Closing Remarks
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Summary:
In this episode, Wes and Eshan discuss some interesting topics in the crypto space. The first topic is about a new development in the restaking ecosystem, where users can issue a credit card based on the balance of their restaked Ether. They explore the potential risks and benefits of this new offering. The second topic is about the migration of a project called FriendTech from Coinbase's L2 solution, Base, to another L2 solution. They discuss the implications of this migration and the market's reaction to it. Lastly, they touch on the recent pro-crypto stance of Congress and the SEC, and speculate on the political motivations behind it.
Chapters:
00:00 Introduction and Restaking Credit Card News
09:48 Migration Off L2s and Token Valuation Impact
21:22 Regulatory Progress: SEC's Approval
Follow us on:
Twitter (Eshan): https://twitter.com/eshanchordia
Twitter (Wes): https://twitter.com/weswfloyd
Twitter (DFI Podcast): https://twitter.com/thedfipod
Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast/id1690224277
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tags: DeFi, restaking, credit card, L2, migration, SEC, ETFs, FIT 21 bill, crypto regulation, political landscape
In this episode, Don Gossen discusses his background in web 2 and transition to web 3, his experience at Ocean Protocol, and his current project, Nevermind. He shares insights on the challenges of building a successful token and product in the web 3 space, emphasizing the importance of balancing the needs of the token and the product. Don also explains the motivation behind Nevermind, which aims to create an AI payments protocol to support the growing ecosystem of AI agents. He discusses the unique characteristics of AI agents and the need for a dynamic and scalable infrastructure to enable their commercialization and monetization. The conversation explores the concept of agent-based AI and the challenges of monetizing AI agents. It discusses the importance of setting parameters for agent access, the role of smart subscriptions and credits, and the need for a decentralized payment system. The conversation also touches on the potential of federated learning and the challenges of decentralized storage and infrastructure. The key takeaway is that the success of AI agents depends on a decentralized ecosystem with transparent dynamics and a decentralized payment mechanism.
Chapters:
00:00 Introduction and Background
08:25 Lessons Learned from Ocean Protocol
23:54 Building an AI Payments Protocol
28:13 Setting Parameters for Agent Access and Smart Subscriptions
30:05 The Importance of a Decentralized Payment System
36:29 Exploring the Potential of Federated Learning
38:16 Challenges and Trade-offs in Decentralized Storage and Infrastructure
50:47 The Future of AI Agents: The GDP of Humans vs. AI Agents
Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df&nd=1&dlsi=a7a279c377414246
---
keywords: web3, Ocean Protocol, Nevermind, token, product, AI payments protocol, AI agents, infrastructure, commercialization, monetization, agent-based AI, monetizing AI agents, parameters for agent access, smart subscriptions, credits, decentralized payment system, federated learning, decentralized storage, decentralized infrastructure
In this episode, Wes and Eshan discuss the recent developments in the Bitcoin market, including the price fluctuations, institutional interest, and the entry of large-scale investors. They also touch on the concept of censorship resistance and the challenges of navigating regulatory environments. Additionally, they mention MicroStrategy's new product offering, MicroStrategy Orange, which focuses on decentralized identity based on Bitcoin. The conversation covers various topics related to blockchain and cryptocurrency, including the future of decentralized software, the potential role of Bitcoin in the ecosystem, the use of private blockchains for enterprise applications, the push for options trading on Bitcoin exchange-traded products, the impact of blockchain on traditional finance, and the sentencing of CZ from Binance. They also discuss the potential for blockchain to revolutionize traditional finance and the need for regulatory clarity in the industry.
Chapters 00:00 Introduction and Bitcoin's Price Fluctuations 05:43 Balancing Censorship Resistance and Regulatory Compliance 12:19 MicroStrategy Orange: Expanding Bitcoin's Use Cases 22:18 The Future of Blockchain in Traditional Finance 23:05 Private Blockchains for Enterprise Use Cases 26:25 Options Trading on Bitcoin Exchange-Traded Products 34:57 The Sentencing of CZ from Binance 38:23 The Uncertain Future of Decentralized Software
Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df&nd=1&dlsi=a7a279c377414246
In this episode, Wes shares his experience at Token 2049 in Dubai, where heavy rain caused logistical challenges but didn't dampen the enthusiasm of attendees. The city shut down for a couple of days, but the conference eventually resumed successfully. Eshan discusses Dubai's emergence as a crypto city and its tax benefits for crypto companies. Wes then talks about Stripe's new crypto payment solution, which allows users to pay with Web3 wallets and supports USDC on Solana, Ethereum, and Polygon blockchains. The move is seen as a win-win for developers and the crypto industry. Stripe is a popular payment platform with over 1.3 million active websites using it. It offers a solution for businesses in the US to accept payments from customers outside the US using USDC, eliminating credit card issues and exchange rate concerns. They then speak on the topic of EigenLayer, a protocol that enables restaking, a new primitive for establishing decentralized trust. Restakers delegate their tokens to operators who run services on the protocol, such as decentralized AI or database services. The restakers support the ecosystem by delegating their tokens, and operators need to have a high uptime to receive payments. The goal being to make the platform permissionless over time. Chapters 00:00 Token 2049 in Dubai 11:26 Stripe's New Crypto Payment Solution 23:16 Restaking: A New Approach to Decentralized Trust 29:19 EigenLayer: Municipal Bonds for Decentralized Trust 35:21 Supporting the Ecosystem through Delegated Tokens Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df&nd=1&dlsi=a7a279c377414246
Chapters 00:00 Introduction 10:46 Treating Code as a Component in a Federal Crime 23:48 The Proposed Merger of Fetch AI, Ocean Protocol, and Singularity Net 31:55 The Misrepresentation of Decentralized AI in a CoinDesk Article 39:19 The Prevalence of AI Companies in the Startup Ecosystem Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df Keywords Sam Bankman-Fried, FTX, white-collar fraud, sentencing, Tornado Cash, Ethereum, privacy, open-source, developers, government overreach, government, decentralized AI, AI projects, merger, Nvidia, GPU market
Yogesh Darji and Eshan Chordia discuss their company Lumino, which focuses on decentralized AI and leverages blockchain technology. They share their recent funding round, backgrounds in tech and web3, and the potential of decentralized software for enterprises. They highlight the importance of co-founder relationships. Lumino Labs aims to build AI infrastructure powered by blockchain and crypto, addressing challenges in model training and inference through decentralized compute protocols. They discuss AI agents' role and the future of AI infrastructure, actively hiring in engineering, crypto economics, and Web3. Links from the Episode:https://www.luminolabs.ai/https://twitter.com/luminoaihttps://www.ycombinator.com/cofounder-matchinghttps://twitter.com/realyogeshdarji Chapters 00:00 Introduction and Funding Announcement 02:13 Background and Entry into Web3 05:09 Transition to Web3 and Web2 Perception 07:39 Building in the Enterprise and B2B Space 09:42 The Future of Blockchain and Decentralized Software 13:29 Finding the Right Co-Founder 27:14 Vision for the Next Year 29:08 Building AI Infrastructure 30:06 Decentralized Compute Protocols 31:49 Benefits of Decentralization 36:14 Focus on Customer Pain Points 38:32 Abstracting Away Compute 40:21 Serverless Experience and Developer Tools 45:21 AI Agents and Automation 50:44 The Future of AI and Infrastructure 53:10 Hiring and Engaging with Lumino 54:23 Closing Remarks Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df
Summary In this episode, Wes and Eshan discuss the possibility of an Ethereum ETF following VanEck's announcement. They explore the probability of SEC approval and the potential impact on the crypto market. The conversation then shifts to the DenCun upgrade for Ethereum, which enables layer 2 solutions to thrive on the network. They discuss the benefits of layer 2 solutions and the potential for financial partnerships with Visa and Mastercard. The episode concludes with a discussion on Coinbase's $1 billion bond sale and the reasons behind it. They also share their opinions on Tesla's Cybertruck. Chapters 00:00 Introduction and Market Discussion 01:03 VanEck's Announcement on ETH ETF, Congressional Pressure on Gary Gensler Regarding Crypto ETFs 09:37 Drake's Instagram Post on Bitcoin 10:20 Spencer Dinwiddie's Bitcoin Contract 11:42 DenCun Upgrade for Ethereum 13:09 Layer 2 Solutions and Call Data on Ethereum 19:18 Data Availability Solutions for Layer 2s 22:50 Coinbase's $1 Billion Bond Sale 25:47 Reasons for Coinbase's Bond Sale 28:06 Opinions on Tesla's Cybertruck 29:28 Conclusion Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df
Summary In this episode, Wes and Eshan discuss the recent success of the podcast and the rise of Bitcoin's value. They also talk about the ETH Denver conference and the themes that emerged, including decentralized AI and agents. The conversation then shifts to EigenLayer, a protocol focused on shared security for the Web3 ecosystem. They explore the concept of DePIN and its potential impact on the AI industry. The episode concludes with a discussion on OpenAI's leadership change and the challenges and opportunities in the decentralized AI space. Chapters 00:00 Introduction and Season 2 01:13 Positive Success and ETH Denver 05:11 SEC 08:16 Bitcoin’s Shift to Digital Gold16:11 DePIN and Decentralized AI 22:34 Decentralized AI Use Cases 25:54 Increased Interest in Crypto and AI 28:00 Decentralized AI Infrastructure Challenges 29:30 Vitalik's Post on AI and Blockchain 32:01 Bitcoin's Potential and Market Dynamics 34:06 Conclusion
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. Get involved with Project Saturn via: https://saturn.tech/ Timestamps: 01:18 Ansgar's Path to Web3 Content Delivery 05:30 What is a Decentralized Content Delivery Network? 17:30 Enabling New Business Models with Crypto Incentives and Open Source 31:00 Incentive Designs for DePIN Networks 44:30 Expanding Services Beyond Content Delivery 50:59 Infrastructure and Tooling for Mass Adoption 56:02 Getting Involved with Saturn Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. 00:00 - Binance Settlement 06:09 - MicroStrategy's Bitcoin Investment 17:01 - Disney's NFT Deal 21:48 - NFTs Representing Real Assets 23:26 - Staking Rate Increase 26:35 - Crypto Adoption Impact 32:47 - OKX Layer 2 40:03 - Open AI Layoffs & Sam Altman's Departure 44:17 - GPU Investment Impact 46:56 - Decentralized AI Potential Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. Get involved with Derek and the Blockless community via: Follow Derek on Twitter: https://twitter.com/dmikeyanderson Blockless Website: https://blockless.network/ Blockless Twitter: https://twitter.com/theblockless Blockless Discord: https://discord.com/invite/9eeRHxSCTZ Timestamps 00:00 - Innovative Work at Blockless 05:08 - Multiple Chains and Execution 08:34 - Running Websites on Blockless 11:05 - Comparison to Other Providers 15:20 - AI Inference and Blockchain 20:07 - Telemetry and Web 3 26:03 - Centralized Infrastructure Responsibility 29:01 - Economic Changes and Funding 30:04 - Proof of Stake and Revenue 36:01 - Building Engineering Teams 40:01 - Decentralization and Compute Lakes Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti?si=e018eb54825f44df
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. Topics covered: - JPMC and Onyx chain - Coinbase Trading Volume Slows Further as Crypto Winter Continues - NY AG Sues Gemini, Genesis, DCGTimestamps:0:00 - Introduction0:36 - JP Morgan Onyx: JP Morgan's in blockchain5:02 - Blockchain as a Game-Changer9:18 - Onyx’s Interoperability with Ethereum13:03 - Use of Private Blockchains18:23 - Coinbase performance25:04 - Role of Bitcoin as a store30:08 - Centralization of Bitcoin mining32:51 - Gemini, Genesis, and regulatory actions.35:39 – Audits in crypto space. Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/3u1U5AsUMhTbDkup5igxrP
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. Timestamps: 00:00 - Intro 00:30 - EU regulation and the absence of staking definitions. 05:30 - Centralization concerns and projects like Lido. 12:05 - Decentralization versus ease of use in crypto. 15:55- Focus on decentralization and layer two solutions. 21:47- Speculation about a multi-chain or consolidated future. 28:49- Compensation in crypto being primarily in fiat currency. 36:03- SEC's Role and Regulatory Challenges 38:34- Insight into Corporate Activism 47:03 - Tether CTO Interview 48:03 - Lack of Confidence in Stablecoins 53:02 - Tether vs. Circle Transparency 54:26 - Need for Cryptocurrency Regulation Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases. Timestamps 00:00 - Intro 00:26 - Discussing the go-to-market strategies for Web 3 03:26 - Comparing sales strategies for Web 2 and Web 3 10:36 - Importance of reputation in the Web 3 industry 13:45 - The value of asking questions and having a conversational approach in sales 17:06 - The challenges of standing out in a competitive B2B SaaS market 21:48 - Exploring the unique aspects of customer acquisition in Web 3.0 32:19 - Comparing Web 3.0 protocol building to creating open APIs 37:02 - Comparison between centralized and decentralized approaches to go-to-market strategies. 38:02 - The importance of partnerships in the context of crypto protocols. 41:22 - Infura and its plans for decentralization of infrastructure. Follow us on: Twitter (Eshan): https://twitter.com/eshanchordia Twitter (Wes): https://twitter.com/weswfloyd Twitter (DFI Podcast): https://twitter.com/thedfipod Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277 Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti
Timestamps:
00:00 - Introduction to Web3 Security Challenges
03:12 - The Role of Machine Learning in Web3 Security
06:45 - Smart Contract Auditing Techniques
09:57 - Anomaly Detection in Web3 Transactions
12:34 - Identity Verification with Machine Learning
15:20 - Predictive Analysis for Web3 Threats
18:45 - Defending Against Adversarial Attacks
21:58 - Fraud Detection in Web3 Ecosystems
25:03 - Optimizing Token Systems for Security
28:19 - Behavioral Biometrics and Web3 Authentication
The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases.
Follow us on:
Twitter (Eshan): https://twitter.com/eshanchordia
Twitter (Wes): https://twitter.com/weswfloyd
Twitter (DFI Podcast): https://twitter.com/thedfipod
Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277
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The DFI Podcast - where we go Deep on Web3 Infrastructure, Services, and use cases.
Links from the show:
https://rdi.berkeley.edu/events/decentralizationaisummit
https://cbr.stanford.edu/sbc23/
https://www.coindesk.com/markets/2023/08/10/first-mover-americas-coinbase-seeks-new-revenue-stream-from-layer-2-network/
https://www.coindesk.com/consensus-magazine/2023/08/09/paypals-real-stablecoin-strategy-it-wants-to-earn-interest-on-your-deposits/
Timestamps
00:00 E12: SBC Recap, Coinbase L2, & PayPal Stablecoin
01:07 Stanford Blockchain Recap: Sunday Berkeley AI Conference
13:48 SBC Recap: Stanford Blockchain Summit
18:37 SBC Recap: Side Events
24:26 Coinbase Launches their L2 Rollup "Base"
33:33 Coinbase & Circle (USDC) Partnership
41:54 Paypal Launches their Stablecoin PYUSD
Follow us on:
Twitter (Eshan): https://twitter.com/eshanchordia
Twitter (Wes): https://twitter.com/weswfloyd
Twitter (DFI Podcast): https://twitter.com/thedfipod
Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dfi-podcast-going-deep-on-infrastructure-for-web3/id1690224277
Spotify: https://open.spotify.com/show/2FSiZKAXz7ejxaQy6b74Ti