Building the Data Layer for Ethereum's Institutional Era | Scott Dykstra (Space and Time) at ETHConf

Sun, Aug 2, 2026, 12:00 AM

In this talk, Scott Dykstra from Space and Time explains how his team is building the data layer for Ethereum's institutional era, providing data to smart contracts from institutional portfolios offchain or secured events onchain. Space and Time is a decentralized onchain database that lets smart contracts ask complex questions. When they started in late 2021, they set out to build the first verifiable ZKP-proven SQL database, using zero knowledge cryptographic proofs for queries asked by smart contracts. The original insight was that a lending smart contract knows nothing about the borrower wallet transacting with it (DeFi protocols have no database to query and aggregate past activity), so Space and Time brings an onchain database that lets contracts roll up and aggregate the history of wallet transactions and events, proven back to the contract by the next block. He frames this as the next step beyond the price-feed oracles that enabled DeFi summer in 2020: letting a smart contract actually run a SQL query aggregation, a powerful primitive for institutions entering lending and vaults. Scott describes the technology as a blockchain sitting next to the EVM that lets you create tables, insert data, and run SQL queries, paying a few SXT tokens per action (for example, creating a T-bill volumes table and querying it from a contract to mint stablecoins backed by offchain T-bills). With the Clarity Act about to pass, he sees fintechs like Stripe, PayPal, and Circle having shown banks how to mint stablecoins backed by reserves, and now major banks hiring contractors to tokenize offchain securities. The real unlock is programmable finance: banks can codify rules around minting, volume thresholds, and marking to market, extending beyond stablecoins to CLOs, equities, and commercial real estate repriced as often as desired. Space and Time acts as the secure conduit that reaches into locked-down offchain portfolios and ZK-proves to a contract that aggregated data (say, total collateral across 17 portfolios on two clouds) is accurate and untampered, ensuring minted stablecoins always match reserves in near real time. He extends this to virtual vaults that give lenders a data room and dashboard showing borrower collateral and deployed capital across exchanges and DEXes, then lets the vault contract itself run SQL queries to enforce thresholds and margin calls, enabling compliant, largely uncollateralized lending. He closes on DeFi itself, where querying a wallet's history of repaid loans could earn experienced borrowers better rates, powering a new wave of onchain lending. 00:00 Introduction 00:33 Building the Data Layer for Ethereum 00:58 The First Verifiable ZK-Proven SQL Database 01:33 Why Smart Contracts Have No Database 01:58 A Verifiable Pipeline of Data to Smart Contracts 02:19 Beyond Price Feed Oracles 02:38 How the Technology Works 02:52 Spending SXT to Create, Insert, and Query 03:15 Why Banks Are Leaning In 03:38 From Fintechs to Major Banks 03:56 The Benefit of Programmable Finance 04:44 Codifying Business Logic On Chain 05:16 Where Traditional Securities Data Lives 05:42 The Need for a Secure Conduit 06:12 ZK Proving Data From Offchain Portfolios 06:50 Why This Is More Than an Oracle 07:13 Aggregating Across 17 Portfolios 07:52 Why It Must Be Near Real Time 08:25 Extending Beyond Stablecoins 08:52 Why SQL Is a Familiar Primitive 09:15 Why You Cannot Aggregate Without This 09:48 The Problem of No Asset Provenance 10:39 Taking It Further Into Vaults 11:17 Why Banks Need Borrower Transparency 11:42 The Opaque World of Ethereum Vaults 12:26 Introducing Virtual Vaults 12:57 Giving Lenders a View of Borrower Capital 13:39 The Investor Dashboard and Data Room 13:56 Feeding Data to the Vault Contract Itself 14:22 Codifying Margin Calls and Business Rules 14:53 An End-to-End Example 15:55 Smarter Vaults Beyond Morpho 16:30 What About DeFi Itself 17:03 Rewarding Loyal Borrowers With Better Rates 17:29 The Year Ahead for Banks and DeFi 17:48 Closing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ *ETHConf 2026* ETHConf is a 3 day event for founders, industry leaders, and builders who are excited about the possibilities of building on top of Ethereum. Connect with 2,000+ top innovators in crypto, finance, technology, and policy at our inaugural three-day event packed with showcases, demos, partnerships, and conversations shaping the future of the global economy. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ *Follow ETHConf* X: https://x.com/ethconf Website: https://ethconf.com _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🎟️ Get your early bird tickets for ETHConf 2027: https://ethconf.com/2027#tickets 🎤 View the full ETHConf 2026 Speaker Schedule: https://ethconf.com/schedule _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _