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Tokenized Decentralized Ecosystems: Functional Framework | Dr. Luka Mueller-Studer | TEDxHSG


yes thank you very much I probably think

yes thank you very much I probably think that you heard a lot about blockchain I

that you heard a lot about blockchain I

that you heard a lot about blockchain I SEOs bitcoins he theorem and all this

SEOs bitcoins he theorem and all this

SEOs bitcoins he theorem and all this stuff I tell you the first time I heard

stuff I tell you the first time I heard

stuff I tell you the first time I heard of a blockchain was in 2014 a team of IT

of a blockchain was in 2014 a team of IT

of a blockchain was in 2014 a team of IT nerds knocked at my door in my law firm

nerds knocked at my door in my law firm

nerds knocked at my door in my law firm at my law firm in Zook

at my law firm in Zook

at my law firm in Zook and it was Vitalik boot ring and you

and it was Vitalik boot ring and you

and it was Vitalik boot ring and you know these guys they don’t look in your

know these guys they don’t look in your

know these guys they don’t look in your eyes because they always think how they

eyes because they always think how they

eyes because they always think how they program and they are Palin and then they

program and they are Palin and then they

program and they are Palin and then they ask me Luka now we would like to launch

ask me Luka now we would like to launch

ask me Luka now we would like to launch a blockchain version 2.0 which allows

a blockchain version 2.0 which allows

a blockchain version 2.0 which allows smart contract systems and we would like

smart contract systems and we would like

smart contract systems and we would like to launch this block chain with a

to launch this block chain with a

to launch this block chain with a chances release of our block chain based

chances release of our block chain based

chances release of our block chain based token which at the beginning will only

token which at the beginning will only

token which at the beginning will only be a digital representation but after

be a digital representation but after

be a digital representation but after the deployment of the Chinese’s block

the deployment of the Chinese’s block

the deployment of the Chinese’s block will then be used as a native token to

will then be used as a native token to

will then be used as a native token to the blockchain shit I said

the blockchain shit I said

the blockchain shit I said what the hell is this I mean I heard

what the hell is this I mean I heard

what the hell is this I mean I heard about the Google and stuff like things

about the Google and stuff like things

about the Google and stuff like things but this is you know the only thing I

but this is you know the only thing I

but this is you know the only thing I really understand was Genesis you know

really understand was Genesis you know

really understand was Genesis you know Genesis so actually it was an

Genesis so actually it was an

Genesis so actually it was an Enlightenment you know so and I tell you

Enlightenment you know so and I tell you

Enlightenment you know so and I tell you it took me one year to understand what’s

it took me one year to understand what’s

it took me one year to understand what’s really happening what the absolute

really happening what the absolute

really happening what the absolute disruptive character of the blockchain

disruptive character of the blockchain

disruptive character of the blockchain technology is you know so 2014 they came

technology is you know so 2014 they came

technology is you know so 2014 they came knocked out door and say listen we want

knocked out door and say listen we want

knocked out door and say listen we want to build a tokenized ecosystem and you

to build a tokenized ecosystem and you

to build a tokenized ecosystem and you have to help to find us a structure

have to help to find us a structure

have to help to find us a structure which is suitable to do that so we

which is suitable to do that so we

which is suitable to do that so we actually we were thinking and we were

actually we were thinking and we were

actually we were thinking and we were asking the u.s. American lawyers you

asking the u.s. American lawyers you

asking the u.s. American lawyers you know guys you know we are issuing a

know guys you know we are issuing a

know guys you know we are issuing a token on the blockchain blockchain is

token on the blockchain blockchain is

token on the blockchain blockchain is something which is looks like Bitcoin

something which is looks like Bitcoin

something which is looks like Bitcoin but it’s not Bitcoin and the first thing

but it’s not Bitcoin and the first thing

but it’s not Bitcoin and the first thing we heard was oh shit this is very

we heard was oh shit this is very

we heard was oh shit this is very dangerous you know all the drug dealers

dangerous you know all the drug dealers

dangerous you know all the drug dealers and everybody’s paying with Bitcoin and

and everybody’s paying with Bitcoin and

and everybody’s paying with Bitcoin and it might be something which is a

it might be something which is a

it might be something which is a security in the u.s. so our problem was

security in the u.s. so our problem was

security in the u.s. so our problem was at the beginning you know nobody knew

at the beginning you know nobody knew

at the beginning you know nobody knew what it is now three years ago

what it is now three years ago

what it is now three years ago same situation there are a lot of

same situation there are a lot of

same situation there are a lot of speculation what it could be but what I

speculation what it could be but what I

speculation what it could be but what I would like to show you now is a little

would like to show you now is a little

would like to show you now is a little hands book or let’s say a little road

hands book or let’s say a little road

hands book or let’s say a little road map or if cookbook on what is needed to

map or if cookbook on what is needed to

map or if cookbook on what is needed to be resolved that we will have a real

be resolved that we will have a real

be resolved that we will have a real flourished tokenized

flourished tokenized

flourished tokenized ecosystem now if you just when I started

ecosystem now if you just when I started

ecosystem now if you just when I started we heard when I start to talk just to

we heard when I start to talk just to

we heard when I start to talk just to think about blockchain we had a market

think about blockchain we had a market

think about blockchain we had a market capitalization of one to two billion as

capitalization of one to two billion as

capitalization of one to two billion as per today we have three hundred and

per today we have three hundred and

per today we have three hundred and thirty five billions market

thirty five billions market

thirty five billions market capitalization of all the blockchain

capitalization of all the blockchain

capitalization of all the blockchain currencies we have about 1300 blockchain

currencies we have about 1300 blockchain

currencies we have about 1300 blockchain currencies 24 billion

currencies 24 billion

currencies 24 billion over 24 hours turnover it’s amazing

over 24 hours turnover it’s amazing

over 24 hours turnover it’s amazing what’s going on

what’s going on

what’s going on so a lot of people say hey this is a

so a lot of people say hey this is a

so a lot of people say hey this is a bubble but I don’t believe that

bubble but I don’t believe that

bubble but I don’t believe that I think this blockchain and the the

I think this blockchain and the the

I think this blockchain and the the technology around this has a really a

technology around this has a really a

technology around this has a really a disruptive disruptive consequence for us

disruptive disruptive consequence for us

disruptive disruptive consequence for us all of us and I always say you know and

all of us and I always say you know and

all of us and I always say you know and as I said to my son you know he just

as I said to my son you know he just

as I said to my son you know he just finished now his kid nazia moment is now

finished now his kid nazia moment is now

finished now his kid nazia moment is now traveling around the world hanging

traveling around the world hanging

traveling around the world hanging around a little bit at least guy you

around a little bit at least guy you

around a little bit at least guy you need to learn this you know this is the

need to learn this you know this is the

need to learn this you know this is the future there are so many tax legal

future there are so many tax legal

future there are so many tax legal constitutional aspects which are for

constitutional aspects which are for

constitutional aspects which are for students incredible interesting to

students incredible interesting to

students incredible interesting to develop now because now you can develop

develop now because now you can develop

develop now because now you can develop law for us now working in this space and

law for us now working in this space and

law for us now working in this space and advising all these startups and all

advising all these startups and all

advising all these startups and all these blockchain based applications what

these blockchain based applications what

these blockchain based applications what we see is three challenges to create a

we see is three challenges to create a

we see is three challenges to create a decentralized ecosystem we need to have

decentralized ecosystem we need to have

decentralized ecosystem we need to have a legal base we need to know exactly

a legal base we need to know exactly

a legal base we need to know exactly what do we have what is a token can you

what do we have what is a token can you

what do we have what is a token can you eat it can you drink it can you smell it

eat it can you drink it can you smell it

eat it can you drink it can you smell it what is it really

what is it really

what is it really it is a securities that the commodity is

it is a securities that the commodity is

it is a securities that the commodity is it a currency what is a token and then

it a currency what is a token and then

it a currency what is a token and then we have to understand that although this

we have to understand that although this

we have to understand that although this nerds you know and the oldest

nerds you know and the oldest

nerds you know and the oldest decentralized guys day and all these

decentralized guys day and all these

decentralized guys day and all these pirates you know they like to say guys

pirates you know they like to say guys

pirates you know they like to say guys fuck the government’s we want to have a

fuck the government’s we want to have a

fuck the government’s we want to have a fully decentralized system we don’t

fully decentralized system we don’t

fully decentralized system we don’t trust anymore the banks and all this

trust anymore the banks and all this

trust anymore the banks and all this establishment we want to be fully

establishment we want to be fully

establishment we want to be fully decentralized let the world be

decentralized let the world be

decentralized let the world be decentralized and then we old guys we

decentralized and then we old guys we

decentralized and then we old guys we need we are done a little realistic and

need we are done a little realistic and

need we are done a little realistic and say guys be realistic there needs to be

say guys be realistic there needs to be

say guys be realistic there needs to be a certain part of centralization still

a certain part of centralization still

a certain part of centralization still now and the last point which is very

now and the last point which is very

now and the last point which is very interested or little bit which is

interested or little bit which is

interested or little bit which is challenging for us at the moment is on

challenging for us at the moment is on

challenging for us at the moment is on one hand you have the blockchain and

one hand you have the blockchain and

one hand you have the blockchain and token and token ecosystems but you need

token and token ecosystems but you need

token and token ecosystems but you need to integrate these systems into real

to integrate these systems into real

to integrate these systems into real applications you need to integrate this

applications you need to integrate this

applications you need to integrate this application

application

application in real banking otherwise it does not

in real banking otherwise it does not

in real banking otherwise it does not work so these are the three challenges

work so these are the three challenges

work so these are the three challenges we will go through quickly through them

we will go through quickly through them

we will go through quickly through them now the legal concept the I would say

now the legal concept the I would say

now the legal concept the I would say the most amazing enlightening of the one

the most amazing enlightening of the one

the most amazing enlightening of the one I had just now was when I was studying

I had just now was when I was studying

I had just now was when I was studying the functionality of the blockchain of a

the functionality of the blockchain of a

the functionality of the blockchain of a blockchain information and I tell you I

blockchain information and I tell you I

blockchain information and I tell you I like the term Bitcoin because what the

like the term Bitcoin because what the

like the term Bitcoin because what the technology allows you is to shape a bit

technology allows you is to shape a bit

technology allows you is to shape a bit so you have a programmed information

so you have a programmed information

so you have a programmed information which has all the qualities of a coin

which has all the qualities of a coin

which has all the qualities of a coin that’s why I think the term Bitcoin is

that’s why I think the term Bitcoin is

that’s why I think the term Bitcoin is is really very accurate now if you see

is really very accurate now if you see

is really very accurate now if you see what you can create you can create with

what you can create you can create with

what you can create you can create with a token you can create something which

a token you can create something which

a token you can create something which is unique definable not changeable

is unique definable not changeable

is unique definable not changeable you can create exclusive access to this

you can create exclusive access to this

you can create exclusive access to this token to this information you can

token to this information you can

token to this information you can transfer it and you can enforce it now

transfer it and you can enforce it now

transfer it and you can enforce it now went back studying and I was thinking

went back studying and I was thinking

went back studying and I was thinking what could that be

what could that be

what could that be I’ve heard that all these elements now

I’ve heard that all these elements now

I’ve heard that all these elements now the one are among you should go back to

the one are among you should go back to

the one are among you should go back to the legal textbook open it and study the

the legal textbook open it and study the

the legal textbook open it and study the definition of civil property all these

definition of civil property all these

definition of civil property all these elements these are all the elements of

elements these are all the elements of

elements these are all the elements of eigen tomb of property so one of the

eigen tomb of property so one of the

eigen tomb of property so one of the really disruptive elements what we have

really disruptive elements what we have

really disruptive elements what we have here and I will come to this point later

here and I will come to this point later

here and I will come to this point later on is you can create real property and

on is you can create real property and

on is you can create real property and now taking also a constitutional view

now taking also a constitutional view

now taking also a constitutional view now in legal history property was a

now in legal history property was a

now in legal history property was a defense rights against the church and

defense rights against the church and

defense rights against the church and governments

governments

governments because only if you can claim this is

because only if you can claim this is

because only if you can claim this is mine you can have a defense right

mine you can have a defense right

mine you can have a defense right against authorities governments now that

against authorities governments now that

against authorities governments now that was a fundamental change in concept of

was a fundamental change in concept of

was a fundamental change in concept of the old Royal fry holistic system into a

the old Royal fry holistic system into a

the old Royal fry holistic system into a more democratic private system and what

more democratic private system and what

more democratic private system and what you see after this change the

you see after this change the

you see after this change the development of economy it’s all based on

development of economy it’s all based on

development of economy it’s all based on the principle of protection of property

the principle of protection of property

the principle of protection of property now property being one of the most

now property being one of the most

now property being one of the most relevant commercial defense rights

relevant commercial defense rights

relevant commercial defense rights against government and now this is

against government and now this is

against government and now this is something which you can create with the

something which you can create with the

something which you can create with the blockchain and this is disruptive you

blockchain and this is disruptive you

blockchain and this is disruptive you can create something with you only you

can create something with you only you

can create something with you only you can access to it and this is the

can access to it and this is the

can access to it and this is the ultimate if the ultimate the ultimate

ultimate if the ultimate the ultimate

ultimate if the ultimate the ultimate way how you can be let’s say liberal

way how you can be let’s say liberal

way how you can be let’s say liberal give you a concrete example since we are

give you a concrete example since we are

give you a concrete example since we are in this blockchain space now we also

in this blockchain space now we also

in this blockchain space now we also represent these young multi millionaires

represent these young multi millionaires

represent these young multi millionaires no they bought Bitcoin with price of 2

no they bought Bitcoin with price of 2

no they bought Bitcoin with price of 2 was $7 and a theorem below $1 they had

was $7 and a theorem below $1 they had

was $7 and a theorem below $1 they had some of them they really have two digit

some of them they really have two digit

some of them they really have two digit millionaires already now one of these

millionaires already now one of these

millionaires already now one of these guys is now in the middle of divorce and

guys is now in the middle of divorce and

guys is now in the middle of divorce and he told me Luka I will never ever hand

he told me Luka I will never ever hand

he told me Luka I will never ever hand over my crypto assets to my wife and I

over my crypto assets to my wife and I

over my crypto assets to my wife and I told him listen I am in this you have to

told him listen I am in this you have to

told him listen I am in this you have to this is this is civil law in Switzerland

this is this is civil law in Switzerland

this is this is civil law in Switzerland you know you need to actually separate

you know you need to actually separate

you know you need to actually separate all your estate your wife gets off it

all your estate your wife gets off it

all your estate your wife gets off it and he told me now I will not give her

and he told me now I will not give her

and he told me now I will not give her half of it and then I said you know I

half of it and then I said you know I

half of it and then I said you know I mean this is law you will get there will

mean this is law you will get there will

mean this is law you will get there will be a judgment the judgment will be

be a judgment the judgment will be

be a judgment the judgment will be rendered and do you will actually be

rendered and do you will actually be

rendered and do you will actually be then enforced to hand her out half of

then enforced to hand her out half of

then enforced to hand her out half of your crypto assets and now if you talk

your crypto assets and now if you talk

your crypto assets and now if you talk about exclusive assets access only the

about exclusive assets access only the

about exclusive assets access only the person

person

person who has the private key has the key to

who has the private key has the key to

who has the private key has the key to the assets can actually dispose over the

the assets can actually dispose over the

the assets can actually dispose over the assets so in order to let’s say to split

assets so in order to let’s say to split

assets so in order to let’s say to split the crypto assets he has you know he had

the crypto assets he has you know he had

the crypto assets he has you know he had to release or disclose his private key

to release or disclose his private key

to release or disclose his private key his coat to the act to the assets now

his coat to the act to the assets now

his coat to the act to the assets now the only way to give his to her actually

the only way to give his to her actually

the only way to give his to her actually to hand out this key would be put the

to hand out this key would be put the

to hand out this key would be put the gun on his head and that guy now speak

gun on his head and that guy now speak

gun on his head and that guy now speak out come on tell me your password so now

out come on tell me your password so now

out come on tell me your password so now if if if you do not have any possibility

if if if you do not have any possibility

if if if you do not have any possibility to get a password or the private key to

to get a password or the private key to

to get a password or the private key to access this digital representation of a

access this digital representation of a

access this digital representation of a property there is no way you can get it

property there is no way you can get it

property there is no way you can get it so this is the ultimate the ultimat

so this is the ultimate the ultimat

so this is the ultimate the ultimat property right so if you think for

property right so if you think for

property right so if you think for example your money on your bank is yours

example your money on your bank is yours

example your money on your bank is yours forget it it’s contaminated by balance

forget it it’s contaminated by balance

forget it it’s contaminated by balance sheet as well as currency risks but with

sheet as well as currency risks but with

sheet as well as currency risks but with the blockchain with the access directly

the blockchain with the access directly

the blockchain with the access directly to a digital property you have the

to a digital property you have the

to a digital property you have the ultimate property you can hold and this

ultimate property you can hold and this

ultimate property you can hold and this is the disruptive element now this

is the disruptive element now this

is the disruptive element now this concept what we call the concept of

concept what we call the concept of

concept what we call the concept of blockchain crypto property has not born

blockchain crypto property has not born

blockchain crypto property has not born it has not been born yet legal writers

it has not been born yet legal writers

it has not been born yet legal writers think how we can create now a new type

think how we can create now a new type

think how we can create now a new type of property and for us as consumers it

of property and for us as consumers it

of property and for us as consumers it is very important that as soon as that

is very important that as soon as that

is very important that as soon as that we have very soon a concept with which

we have very soon a concept with which

we have very soon a concept with which we can rely on and I think it’s a normal

we can rely on and I think it’s a normal

we can rely on and I think it’s a normal evolution of defining property first we

evolution of defining property first we

evolution of defining property first we had physical property then we had

had physical property then we had

had physical property then we had property represented by a paper and

property represented by a paper and

property represented by a paper and their puppy now it’s absolutely clear

their puppy now it’s absolutely clear

their puppy now it’s absolutely clear that we should have a new term which is

that we should have a new term which is

that we should have a new term which is the new kind of blockchain crypto

the new kind of blockchain crypto

the new kind of blockchain crypto property now this will be digging into

property now this will be digging into

property now this will be digging into the theta pay into the civil law and

the theta pay into the civil law and

the theta pay into the civil law and that means war a lot of heads of

that means war a lot of heads of

that means war a lot of heads of Parliament smoking parliamentary

Parliament smoking parliamentary

Parliament smoking parliamentary smoking heads before we are there now

smoking heads before we are there now

smoking heads before we are there now coming a little bit in the ico sphere if

coming a little bit in the ico sphere if

coming a little bit in the ico sphere if you have this if you have a team which

you have this if you have a team which

you have this if you have a team which is actually say okay guys we want to

is actually say okay guys we want to

is actually say okay guys we want to make a token generating event or an ISIL

make a token generating event or an ISIL

make a token generating event or an ISIL we want to develop a tokenized

we want to develop a tokenized

we want to develop a tokenized decentralized ecosystem as I said I

decentralized ecosystem as I said I

decentralized ecosystem as I said I always have to tell these guys be a

always have to tell these guys be a

always have to tell these guys be a little bit realistic there will always

little bit realistic there will always

little bit realistic there will always be centralization in whatever

be centralization in whatever

be centralization in whatever decentralized project you have in the

decentralized project you have in the

decentralized project you have in the world so one is that if you start let’s

world so one is that if you start let’s

world so one is that if you start let’s say I’m a team and a core team and I say

say I’m a team and a core team and I say

say I’m a team and a core team and I say I want to create application platform

I want to create application platform

I want to create application platform which is like a new Spotify the

which is like a new Spotify the

which is like a new Spotify the sportivity centralized Spotify I will

sportivity centralized Spotify I will

sportivity centralized Spotify I will connect artists with consumers we

connect artists with consumers we

connect artists with consumers we created I have an idea my new platform

created I have an idea my new platform

created I have an idea my new platform is cost me 1 million I will have a

is cost me 1 million I will have a

is cost me 1 million I will have a platform programmed on an etherium

platform programmed on an etherium

platform programmed on an etherium platform on the etherium network and I

platform on the etherium network and I

platform on the etherium network and I will issue tokens now we ask

will issue tokens now we ask

will issue tokens now we ask contributors we want to know exactly

contributors we want to know exactly

contributors we want to know exactly where do we contribute in and now if you

where do we contribute in and now if you

where do we contribute in and now if you see a lot of these token generating

see a lot of these token generating

see a lot of these token generating cement which happens today they have

cement which happens today they have

cement which happens today they have some wallets somewhere in the world

some wallets somewhere in the world

some wallets somewhere in the world nobody knows exactly who has access to

nobody knows exactly who has access to

nobody knows exactly who has access to these words so there will always be a

these words so there will always be a

these words so there will always be a centralization in somebody receiving

centralization in somebody receiving

centralization in somebody receiving funds needs to be controlled another

funds needs to be controlled another

funds needs to be controlled another element is and this is now very a bit

element is and this is now very a bit

element is and this is now very a bit Technic technical if you start to be a

Technic technical if you start to be a

Technic technical if you start to be a member or let’s say participate in an

member or let’s say participate in an

member or let’s say participate in an ecosystem there will be a first

ecosystem there will be a first

ecosystem there will be a first Genesis lecture which is the starting

Genesis lecture which is the starting

Genesis lecture which is the starting point of a new application so you when

point of a new application so you when

point of a new application so you when you participate in such an idea you want

you participate in such an idea you want

you participate in such an idea you want to be absolutely sure that if I pay

to be absolutely sure that if I pay

to be absolutely sure that if I pay something I want to have my registration

something I want to have my registration

something I want to have my registration in H

in H

in H lecher so again centralization and I was

lecher so again centralization and I was

lecher so again centralization and I was in I had a we are now working for a

in I had a we are now working for a

in I had a we are now working for a government and this government is

government and this government is

government and this government is setting up a new agency for

setting up a new agency for

setting up a new agency for decentralized lecture technology this is

decentralized lecture technology this is

decentralized lecture technology this is one of the issues we will deal with

one of the issues we will deal with

one of the issues we will deal with because it goes into or it touches not

because it goes into or it touches not

because it goes into or it touches not financial market regulations it’s more

financial market regulations it’s more

financial market regulations it’s more an issue of consumer protection now as a

an issue of consumer protection now as a

an issue of consumer protection now as a third issue is or let’s say the last one

third issue is or let’s say the last one

third issue is or let’s say the last one which is more important the other one I

which is more important the other one I

which is more important the other one I leave out because it’s really a bit too

leave out because it’s really a bit too

leave out because it’s really a bit too complicated a little too technical for

complicated a little too technical for

complicated a little too technical for 18 minutes now the last one is

18 minutes now the last one is

18 minutes now the last one is governance we had one project a very

governance we had one project a very

governance we had one project a very interesting project it’s a fully

interesting project it’s a fully

interesting project it’s a fully decentralized Facebook a Facebook which

decentralized Facebook a Facebook which

decentralized Facebook a Facebook which allows you that if you actually have a

allows you that if you actually have a

allows you that if you actually have a picture there of you to slow down load

picture there of you to slow down load

picture there of you to slow down load something people can add advertising and

something people can add advertising and

something people can add advertising and you participate within this ecosystem of

you participate within this ecosystem of

you participate within this ecosystem of all advertising revenue which is on your

all advertising revenue which is on your

all advertising revenue which is on your side on your page on your page of this

side on your page on your page of this

side on your page on your page of this decentralized Facebook application and

decentralized Facebook application and

decentralized Facebook application and these developers they will really get

these developers they will really get

these developers they will really get their relief freaking out this is the

their relief freaking out this is the

their relief freaking out this is the revolution and then we were thinking and

revolution and then we were thinking and

revolution and then we were thinking and then said we actually they said we will

then said we actually they said we will

then said we actually they said we will do it fully decentralized we will deploy

do it fully decentralized we will deploy

do it fully decentralized we will deploy it to the blockchain and let it operate

it to the blockchain and let it operate

it to the blockchain and let it operate it’s fully decentralized and then I

it’s fully decentralized and then I

it’s fully decentralized and then I asked these guys what are you doing if

asked these guys what are you doing if

asked these guys what are you doing if you have child pornography on on your

you have child pornography on on your

you have child pornography on on your decentralized network oh shit we haven’t

decentralized network oh shit we haven’t

decentralized network oh shit we haven’t thought of it or terrorist financing so

thought of it or terrorist financing so

thought of it or terrorist financing so you you can have whatever decentralized

you you can have whatever decentralized

you you can have whatever decentralized application you want but you need to be

application you want but you need to be

application you want but you need to be aware that you need to have some central

aware that you need to have some central

aware that you need to have some central governance now the last one which is

governance now the last one which is

governance now the last one which is actually a very very the one which

actually a very very the one which

actually a very very the one which causes me at the moment the most of my

causes me at the moment the most of my

causes me at the moment the most of my headache and sleepless nights you know

headache and sleepless nights you know

headache and sleepless nights you know it’s and it’s actually it has been

it’s and it’s actually it has been

it’s and it’s actually it has been reached to a stage that my wife recently

reached to a stage that my wife recently

reached to a stage that my wife recently asked me Luka

asked me Luka

asked me Luka do you have a girlfriend ah no no I have

do you have a girlfriend ah no no I have

do you have a girlfriend ah no no I have some blockchain challenges which you

some blockchain challenges which you

some blockchain challenges which you don’t even if you if you have always

don’t even if you if you have always

don’t even if you if you have always these things do to study you know you

these things do to study you know you

these things do to study you know you forget about thinking about sexy

forget about thinking about sexy

forget about thinking about sexy releases so crazy yeah it’s really it’s

releases so crazy yeah it’s really it’s

releases so crazy yeah it’s really it’s it’s headache you know especially the

it’s headache you know especially the

it’s headache you know especially the last one you know the banks they’re

last one you know the banks they’re

last one you know the banks they’re creating today causing me a lot of

creating today causing me a lot of

creating today causing me a lot of headaches lately and I’m close to create

headaches lately and I’m close to create

headaches lately and I’m close to create my own Bank you know because it’s it’s

my own Bank you know because it’s it’s

my own Bank you know because it’s it’s if you do not have an integration of

if you do not have an integration of

if you do not have an integration of this technology into the old world it

this technology into the old world it

this technology into the old world it doesn’t work it really simply doesn’t

doesn’t work it really simply doesn’t

doesn’t work it really simply doesn’t work so also for the individuals

work so also for the individuals

work so also for the individuals regarding to let’s say the topic which

regarding to let’s say the topic which

regarding to let’s say the topic which I’m addressed to regarding the other

I’m addressed to regarding the other

I’m addressed to regarding the other government they said we want to be the

government they said we want to be the

government they said we want to be the blockchain space of the future and I

blockchain space of the future and I

blockchain space of the future and I told them do you have an exchange which

told them do you have an exchange which

told them do you have an exchange which allows to exchange Bitcoin etherium into

allows to exchange Bitcoin etherium into

allows to exchange Bitcoin etherium into old Fiat Fiat means serves with francs

old Fiat Fiat means serves with francs

old Fiat Fiat means serves with francs or whatever US dollars Europe and

or whatever US dollars Europe and

or whatever US dollars Europe and doesn’t know we don’t have we even have

doesn’t know we don’t have we even have

doesn’t know we don’t have we even have banks and the majority of our banks they

banks and the majority of our banks they

banks and the majority of our banks they don’t accept any bank transfer first

don’t accept any bank transfer first

don’t accept any bank transfer first transfer the bank transfers which come

transfer the bank transfers which come

transfer the bank transfers which come which comes for which come from a

which comes for which come from a

which comes for which come from a exchange so there is no way how you can

exchange so there is no way how you can

exchange so there is no way how you can integrate your blockchain into the old

integrate your blockchain into the old

integrate your blockchain into the old world and this is one of the real real

world and this is one of the real real

world and this is one of the real real challenge which we have at the moment

challenge which we have at the moment

challenge which we have at the moment same happens in Switzerland if you have

same happens in Switzerland if you have

same happens in Switzerland if you have a blockchain startup in Switzerland you

a blockchain startup in Switzerland you

a blockchain startup in Switzerland you will not find a Swiss bank opening a

will not find a Swiss bank opening a

will not find a Swiss bank opening a bank account for you they fear I don’t

bank account for you they fear I don’t

bank account for you they fear I don’t know what they see I mean I know what

know what they see I mean I know what

know what they see I mean I know what they fear they they fear a little bit

they fear they they fear a little bit

they fear they they fear a little bit apart from this general disruptive

apart from this general disruptive

apart from this general disruptive element is the technology can have it’s

element is the technology can have it’s

element is the technology can have it’s always anti money laundering and

always anti money laundering and

always anti money laundering and terrorism finance which is okay now we

terrorism finance which is okay now we

terrorism finance which is okay now we can’t do that but here it needs to have

can’t do that but here it needs to have

can’t do that but here it needs to have HD ranee we need to have a shift in the

HD ranee we need to have a shift in the

HD ranee we need to have a shift in the whole overall policy we need to have

whole overall policy we need to have

whole overall policy we need to have let’s say old industry which

let’s say old industry which

let’s say old industry which are open to this new technology and here

are open to this new technology and here

are open to this new technology and here is our homework to do and if we want to

is our homework to do and if we want to

is our homework to do and if we want to be a land of tomorrow or if you want to

be a land of tomorrow or if you want to

be a land of tomorrow or if you want to be really at the forefront of this

be really at the forefront of this

be really at the forefront of this development and I think it will be a

development and I think it will be a

development and I think it will be a future development which it will be

future development which it will be

future development which it will be future application which will be

future application which will be

future application which will be interesting for all different aspects

interesting for all different aspects

interesting for all different aspects from technology science projects as

from technology science projects as

from technology science projects as Riggle mentioned you know there are so

Riggle mentioned you know there are so

Riggle mentioned you know there are so many different and interesting

many different and interesting

many different and interesting applications but we need to solve some

applications but we need to solve some

applications but we need to solve some of these issues which I just summarized

of these issues which I just summarized

of these issues which I just summarized it now in my short summary there’s a lot

it now in my short summary there’s a lot

it now in my short summary there’s a lot of things to do it’s actually more your

of things to do it’s actually more your

of things to do it’s actually more your generation I’m already a little bit old

generation I’m already a little bit old

generation I’m already a little bit old I did a lot of these kind of

I did a lot of these kind of

I did a lot of these kind of applications and I earned already some

applications and I earned already some

applications and I earned already some Easter capital gains so I relax a little

Easter capital gains so I relax a little

Easter capital gains so I relax a little bit but you will be the ones the

bit but you will be the ones the

bit but you will be the ones the academics who have to think about how we

academics who have to think about how we

academics who have to think about how we deal in legal tax and compliance with

deal in legal tax and compliance with

deal in legal tax and compliance with all these new developments in order to

all these new developments in order to

all these new developments in order to be that that we know that we can develop

be that that we know that we can develop

be that that we know that we can develop a sustainable decentralized tokenized

a sustainable decentralized tokenized

a sustainable decentralized tokenized ecosystems thank you very much

ecosystems thank you very much

ecosystems thank you very much [Applause]

”

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