Everything Onchain: What's live, What's Scaling, and What's Still Theory | EBC12

But, uh, you had " Yes, that's better." Yes, you've already done the hardest part – hardest part – pronouncing the name, so I'm really glad you took this liberty. So, we're going to talk about something that I think many of us have known for years. Everything moves along a chain, and, um, we have a panel here with, I think, quite different views on this. And we'll dive right in, uh dive right in, uh , right away, but we'll, uh, break it down into: well, what's already working, what's gaining momentum, what's actually scaling, and what's more theoretical, what 's in the future.

And well, we're here, uh, in your hometown, I guess. You're from Barcelona, ​​of course, so, well, we're guests, uh, at your house guests, uh, at your house , right? So, I want to start with you, of course. Uh, the Camp Nou stadium is probably still one of the best still one of the best , uh, football club hosts, uh club hosts, uh , in the world, and, uh, could you explain a little bit about what Barca's vision is? Because besides the football club, you have something with Web3, with blockchain.

I think people are dying to hear about this hear about this . Okay, let me give you the context of FC context of FC Barcelona, ​​because we were a blockchain a century ago before blockchains were around. In what sense? This is a club that is 125.26 years old, and since its inception it has been a decentralized autonomous organization.

In what sense? It belongs to the members. Members vote. We have elections. We have referendums.

We have meetings. So, it is a completely democratic organization. In fact, FC In fact, FC Barcelona is a non-profit organization. So it fits very well with many of the values ​​of, say, blockchain technology. Decentralization.

Or that we were a physical, let's say, DAO, if you will? Uh, so, uh, we're implementing blockchain in many different ways, but let me explain something. I am the director of a business unit called Barcevision. And this business unit is engaged in, uh, creating digital experiences, digital products, digital services that will be, let's say, commercialized in the market around the world market around the world . And using new technologies, including blockchain, artificial intelligence, virtual reality, and we hope someday also quantum technologies.

Regarding blockchain technology, we have implemented many projects. I will explain it, but also internally, as a solution to some of the problems the club has. For example, auditing, what happens in builds, etc. We use blockchain technology. And then, in terms of, let's say, uh, projects that we've commercialized around the world, and in 2022, uh, we've already done, uh, our first NFT.

Now NFTs are a different matter. Nobody, uh different matter. Nobody, uh , wants to know about NFTs , wants to know about NFTs , but I think we did something amazing. We made an NFT of one of our players, uh, Johan Cruyff, uh, a legend for us, and we did something amazing in terms of art. It was, uh, shown on the biggest screens in Times Square and then, uh, sold at Sotheby's in New Sotheby's in New York.

And we did so well with Johan Cruyff that we repeated it with Alexia Putellas, because our values ​​are men and women. And not only football, five professional sports, but also amateur sports. The club is known for its players. For example, right now we have a team that scores a lot of goals, as, uh, as explained. We have Rafinha, we have Lamine Yamal, we have Fermin, he is my favorite player, but we also had many female players, even gold medals in the Olympic Games in athletics.

So it applies to everyone's community. And then we made this first NFT, the second NFT, and they were exhibited in modern museums with Andy Warhol with Andy Warhol , Kusama, Heding, all these great, let's say, artists. And as for us, we are very proud of it. And then of course we work in many different projects, also with the Cardano Foundation, with office.com, with WhiteBIT, and we want, we want to work with almost everyone because we like compatibility as well .

So we don't want to be trapped in one solution. We want the market to decide that this is the right decision. I think it's worth stopping here. No, that's normal. And I really like how you, of course, expand culture, not just football.

And I was curious because you described that all of this already exists. But where is it all going? What is FC Barça's vision What is FC Barça's vision for the next few years? What should we expect? Okay, let me start with what we don't want.

Uh, the club is also known for the fact that we like to say that we are more than a club we are more than a club . And this means that values ​​are important to us, even if sometimes we, like everyone else, make mistakes. Okay make mistakes. Okay , but we also do unique things. For example, our first sponsor was UNICEF.

And we invented something called reverse sponsorship reverse sponsorship . This means that we pay UNICEF to be our sponsor. No one followed this. It's crazy, but we love innovating in technology, in business, and in many ideas. What I mean by this is that we don't like the part of blockchain that is related to speculation.

We don't want, say, our fans to hold assets and play speculatively with them. I think that's not our role. And in that sense, we really like the interoperability and data protection, the fact that users, the funds, are the owners of the data. They give us consent to do what they want, etc. And, for example, our design of future wallets will be heavily gamified, with the fact that you can have avatars, NFTs, collectibles and play with them.

Because we consider ourselves a club that is about entertainment, um, emotions, and not, say, speculation with money, etc., and yes, that's totally cool. Great perspective, and I'll move on to the next point, and later we can maybe reflect on all of this. Uh, Sitara, uh, you're from Sitara, uh, you're from Doctors Without Borders Doctors Without Borders , a very large non-profit humanitarian organization. I think the first question that comes to mind for many people is why are you here?

What are you doing with blockchain? But maybe before that, could you remind us what us what Doctors Without Borders does? Yes, thank you very much. So, it's true that, you know, since I got here, every person I've met has asked me the same question. And that's a valid question, you know.

So, as Doctors Without Borders, we are an independent humanitarian emergency medical organization that currently works in over 70 countries around the world over 70 countries around the world . And, as a private nonprofit organization, we are 98% organization, we are 98% funded by private sources. This means that we have over 8 million private donors around the world who support the work of support the work of Doctors Without Borders Doctors Without Borders . Oho. " Oho.

" Doctors Without Borders" or "Doctors Without Borders", you know, it's the same thing. So, as an organization that tries very organization that tries very , very, very hard to maintain its independence from political influence, from all sorts of other pressures, we try, uh, try to keep try to keep , uh, our support as independent as possible. This means that, you know , over time we're going to have to engage with communities, especially in the blockchain space, because it's probably one of those new areas that's being explored right now. And you know, our platform, the liquid staking platform that we have staking platform that we have , is called stake to care. Two, like number two.

Yes. And it was actually launched at the European Blockchain Convention last year, where it was announced , and I'm very proud that we've now launched it in real time. And the way it works is that works is that anyone who wants to support MSF's work in this community can stake their Ethereum or USDC or USDT on our platform USDT on our platform . Staking to care, and they generate rewards generate rewards because we use Lido's Proof of Stake protocol for this . So when people receive rewards, they transfer a portion of their rewards to MSF, but retain ownership of their digital assets.

So in a way it helps, like it works for everyone. It's a kind of win-win situation where someone can make a little money but at the same time support a good cause and preserve their assets. So this initiative is really growing, and we are now working on scaling it to the desired level. But yes, that's what we're doing right now, and we're very grateful for this space grateful for this space that the European Blockchain European Blockchain Convention gives us, because I think we're the only humanitarian voice present at this event. Yes, thank you.

Yes, great. And I think everyone knows what a bet to make money is, but I think a bet to worry is a great name. It really showcases what you do. We met a few hours ago, and you told me that you've lost a lot of colleagues recently because, well, you do really important, really dangerous work in that sense. Could you elaborate a little more on why it's so important for people to contribute to this?

Yes, you know, humanitarian work, especially in emergency situations like conflicts or even disease outbreaks, epidemics, is something we do every day. And speaking of outbreaks, we're currently dealing with a huge, huge, unprecedented outbreak of Ebola in the DRC, in Congo, where there are over 7,000 confirmed cases to date, and it's one of the rarest diseases for which there is no cure or vaccination. And of those 7,000 confirmed cases, over 2,700 patients are currently in our clinics. So to give you an idea of ​​the environment we work in, you know, we need an endless supply of rubber suits and all the necessary protective gear. This means ensuring an unlimited supply chain, because most of these things are disposable and cannot be reused reused .

And then you also have to, I mean, a person can't be in this protective suit for more than an hour, because they're going to sweat so much that, you know, it's not just impossible to go on longer than that. Therefore, we have to change staff every hour and have endless supplies. This is just one example, but on the other hand, when we work in conflicts like Sudan, Gaza and many other places like Lebanon, for example, in the last 2 years, since October 2023, I have lost 15 colleagues in Gaza to date, 15. And most of them died while providing care to patients. And just 3 days ago, one of our staff buses in Gaza, taking our staff home after a 24- home after a 24- hour shift, is always marked, you know, like medical convoys are always clearly marked, but they were attacked because just 200 meters from our bus there was a rocket strike, which of course supposedly hit our bus, and we have injured colleagues, and it's literally the environment literally the environment .

This is the everyday life in which we work. So every day when our colleagues go to work in the morning, in many of these situations that I mentioned, they don't know if they're actually going to come back. So I just want everyone in the room to think about that for a moment. What is it like, what kind of dedication is required to do such work. It's more than just a job, and it's more than a profession.

So I think it's a collective responsibility for all of us, first and foremost, you know, to provide healthcare for everyone. And also, we need to do everything within our individual capabilities to support humanitarian work. Of course. And I think it's great for honest souls to hear that blockchain is actually contributing to that. And maybe again, where can people find this?

How, I guess, do we all have any ether left that we can exchange for a "steak-steak- "steak-steak- to-care" pool of steaks? Of course. So if you just search for it as steak, as in steak number two and do-care, you'll find a webpage where you can connect your wallet and do a steak directly on our platform. The platform, as I said, you know, for MSF, our independence is very important. So we could outsource it to a third party who would probably have more influence in the community and probably raise a lot more money.

But, to maintain our independence, that's why we decided to have our own platform. This is very illogical, because everyone still asks me, do you know what Doctors Without Borders is doing here? But we would prefer to have a small but our own platform that belongs to us. Um, and we're managing this ourselves and trying to expand, you know, our support in this community. So, everyone intends to care.

Please find this and support if you can. And it's great that it's independent in that sense. I really like it. Okay, thanks for your point of view. Well, let's move on to the next one, Alia.

Uh, I had the opportunity to interview, uh, the Bermuda Financial Market Authority once in, uh, Stockholm. Uh, you're from the Bermuda government , uh, but from the Brussels office Brussels office , right? You're, uh, the director , right? You're, uh, the director , uh, of EU policy here. Uh, what many people may not know is that Bermuda was one of the first regulatory systems for digital assets.

Could you tell us a little about how it was created and what impact it has had so far? Yes, of course. So thank you. Thank you for this intervention as well, just to acknowledge all the work you do, and thank you for inviting me here. Well, Bermuda has certainly been exciting the last few years.

As you mentioned, we have a regulatory system that is one of the first in the world, if not the first. So, in 2018, we introduced the Digital Assets Business Act, which we call DABA, and it's, um, regulated by our sole financial services regulator, the Bermuda Monetary Authority, which you mentioned. Hmm, this was back in 2018, which clarified the situation, for lack of a better term, hmm, at a time when there were few opportunities for this industry. And since then, this structure has been refined and improved every year to add, um, you know, the ability to work with staking or yield, um, derivatives, and so on. So we're pretty happy with how things are going so far, but I think it's actually quite interesting to take a step back and realize that the reason we created this structure was because of our traditional financial services industry, which is actually insurance and reinsurance.

So, we have been one of the world leaders in this field for the last 50 years. We have analogues from the EU, Great Britain, and the USA. For the EU, this is Solvency II. And so we wanted to protect and insulate our reinsurance industry from potential disruptions caused by blockchain technology blockchain technology . Everyone said it would be the end of financial services as we know them.

And so the government wanted to get ahead of this and create an environment on the island where companies could innovate. And that's one of the things that's quite unique in the Bermuda environment . We have digital asset businesses that digital asset businesses that are, you know, purely digital businesses, some of them are even represented at this conference, like Circle, Coinbase, Kraken, XBTO, etc. Circle, Coinbase, Kraken, XBTO, etc. But we also have this really interesting intersection of innovative insurance companies.

Um, companies that are digital, like Meanwhile digital, like Meanwhile , or offer insurance marketplaces that are also digital. And we have about 50 companies that are currently licensed under our digital asset business law. Um, and that covers a full license, which is about half for 20 companies. And we also have a modified license and a test license for those who want to get in, cooperate with the regulator, and have the opportunity to expand and develop locally. I think this is a great approach to a multi-level structure.

Could you name a few, perhaps, companies that we all know that are licensed in Bermuda Bermuda ? Yes, of course. So, the ones I've already named are probably the most famous. For example, Circle was the first to receive a full license in Bermuda Bermuda . We have Coinbase, Kraken, which I also mentioned which I also mentioned .

XBTO was on our panel recently. So, throw out the mention of these names. And I think one of the best things, going back to this about blockchain, is that we've been able to collaborate with these industry partners to expand the offering locally. So, now that we have, you know, eight years of regulation behind us, the government has turned its attention to becoming the world's first blockchain-powered national economy. Wow.

And part of that is moving society to blockchain. And so, transferring this technology to residents technology to residents , to businesses, to reduce, you know, the cost of doing business. Every time you use your credit card, a fee is charged and transferred overseas immediately. So, by implementing some of these digital asset technologies, we are trying to line the pockets of our businesses. And maybe it's worth mentioning one thing: we have a really great example of this, and also of partnership.

Every year in May, we host a digital finance forum in Bermuda. And we held a digital airdrop there. So everyone who attended the conference received $100 in their wallet to spend at the conference. So you could buy coffee with USDC, you could buy lunch. And this had a dual purpose: dual purpose: first, to attract all the suppliers who supported the conference.

And you can still pay, you know, with digital assets. And also to normalize this in society. So, there was a big community day, and you had grandmas, everyone coming and getting a taste of this technology. And besides being able to spend able to spend , uh, USDC, we also partnered with Kraken. And so, we did an airdrop of Kraken X shares.

So they put, uh, a Franklin Templeton gold EFT in everyone's wallet. And now, people have also gotten a taste of investing in digital assets. Uh, this is, I think, one of the good examples from Bermuda Bermuda , bringing in local businesses, like our largest supermarket chain supermarket chain . Now you can pay with USDC, and also at the local lemonade stand that's so good, uh that's so good, uh , in the city of Hamilton. And so, this really makes it normalized for our citizens.

And the flip side of that is that the government is trying, if you will, to enforce the rules to enforce the rules . And now, we can accept and invest in digital assets. I can tell you more about this . Yes, but it's very unique to see that the government is actually one of the biggest implementers in this sense. I think that's quite different from what we've seen here, don't you think?

So, um, and what I also heard is that in 2018, you were already thinking about tokenization, while the rest of the world was still figuring out what cryptocurrency could bring . So, I think that's quite a vision. Yes, and I will definitely come back to you in the future, looking to the future, yes. But, I think it's also a good bridge for Maria from Rental from what is in life to what is scalable, right? Uh, you're into real estate tokenization.

Uh, you had a booth here. I think people may have seen you here, of course. Uh, and what struck me is that there's often a very high barrier to entry for real estate investing, right? You probably need a lot of capital to start investing in real estate, but you do it from 100 euros and up. What was the decision to make the entry threshold so low?

Well, that's right. Hey, hello everyone. Uh, you know, as a new business, you always have to look for difficulties, right? Where are the difficulties in business Where are the difficulties in business ? Where are the difficulties?

Where were the difficulties with investing in real estate? So one of them was the high value you need. To start investing in real estate, you need to have a fairly large amount of money. We all know that real estate is a safe asset, as safe as it gets. So everyone loves to invest.

Why not everyone? Well, now they can thanks to tokenization. And I just want to say that since we're here, and I'm so glad that now we've stopped talking about blockchain, about the technology, and we're actually talking about real-world use cases. So, first I would like to clarify that I am very happy about this. At least in this environment, I'm sure when we get out of this environment we'll still have to explain how it works.

But, um, that was, uh, the great thing about tokenization. Tokenization is not, uh , business itself. Tokenization is a way for us to divide up real estate and make it accessible to everyone, because for one token you can just, uh, pay 100 euros and start investing. Well, we have six markets, so we are represented all over the world. So you can start with 100 euros.

And it's really a 360-degree turnaround with Sitara, because, you know, it just makes me think that, you know, investing–it's great, right? We all need to invest. We all invest because of inflation. Otherwise you lose money. But it's true that Rental is currently trying to recruit at least one person.

This...Well, we're working. So, actually answering your question, it's obvious that we're working. You can already invest in Rental. We have been working for 5 years.

But why we say we are scaling is because we hope that there will be one person in every household investing in tokenized real estate. And this is our hope. Our goal is our hope. Our goal is to become mainstream. And hopefully, if more people invest, more people will have money working for them, and more people will be able to actually help Doctors Without Borders or any Without Borders or any other cause.

Thank you. It's great that you mentioned scaling. You have six markets, you said. Uh, I read that over 150 real estate properties have already been tokenized. Could you name a few such buildings, or give examples?

Yes, it's actually a very...very interesting story, hmm? Because we started, as I said, 5 years ago, in 2021. And we tokenized the first apartment in Seville, in the south of Spain, for 60,000 euros. It was a great investment because we then renovated it and sold it a few years later.

But now we have tokenized two apartments in the Burj apartments in the Burj Khalifa, the tallest building in the world. We actually do the same thing . So we're renovating it because, believe it or not, it's getting old. And we're putting it together because the wealthy people who will buy these apartments will need 300 square meters to live there. So we'll sell it and figure out what price.

So, you know, after 125,126 projects, it was an evolution, an evolution, no, of renting. When in 2021 everyone you talked about about tokenization looked at us like: “ looked at us like: “ Oh, well, that's it. You are wasting your time . What is it?" And now everyone is talking about tokenization of real assets.

We are definitely ahead of our time. I am proud to say that we are world leaders in real estate tokenization investments. So thank you for this opportunity, because we also have obligations. My personal commitment is to always be able to at least let everyone know that they have a choice. They have a choice to make their money grow in a way that we try to do as best as we can.

Ultimately, we are a real estate company that uses tokenization simply to make it better. Yes, I like that because we didn't talk about speculation in any of these examples. And investing in real estate is a kind of investment method. This is not speculation, is it? But then you make it available to a group that, well, was too far gone in that sense.

So I really like it. And become a co-owner, thinking it's a Hilton hotel or something like part of it. I think this is a great use case use case . So thank you for that. I would just add one more thing because that's another important thing for an investor, liquidity.

Liquidity is one of the most important things when you invest, and tokenization gives you that . I want to elaborate on this because obviously you need time for the other panelists, but this is one of the main things why tokenization is also useful in this case. Okay, thank you. Okay, and let's move on to the next one, Sasha. You are an expert in cybersecurity and quantum mechanics, and we can't deny that a lot is scaling in web3 and blockchain.

But by scaling we often mean price, volume, or success. I was wondering if the security of all these projects scales with the successes we are seeing? Thank you, Mara, for the question. First of all , I would like to introduce myself. I am Sasha Yovanovych.

I am originally from Monaco. For the last 15 years, I have worked in private banking in Monaco and family offices in Geneva, managing and assisting over 20 very wealthy families. And I have been doing future consulting for 3 years now. I started out very universally, meaning I consulted on I consulted on any issues related to finance, from traditional finance to blockchain and tokenization, as well as artificial intelligence. And before I answer Maru's question, I would like to take a moment to explain why I am now a founding partner of Q-Defense MC in Monaco.

So basically, I've been watching 5 years of massive digital transformations, as you've seen, and one of the most important things most important things is security. As of this week, this has happened quite recently. We see Anthropic, we see OpenAI, the largest AI companies in the world, starting to shake up, and we can say that the world could be at risk within 10 years, and with a high probability. At the same time, we see every day how the largest financial institutions, and even hybrid ones like Revolut, are hacked and are becoming more and more involved in security, and we are talking about billions of dollars and euros. So, why am I telling you this?

Of course, we have many threats today. We have geopolitical threats, we have artificial intelligence threats, and the next one is intelligence threats, and the next one is quantum threats. So, essentially, we don't know how we will perceive these threats in the coming decades. So, from a blockchain, on-chain, and security perspective, I think the most important topic is quantum security. How will we evolve in a world where technology is evolving so rapidly compared to infrastructure, compared to people, and compared to the experience and skills of people, not just robots.

So, essentially, that's why I created Q-Defense MC, to help individuals and companies navigate through these massive digital transformations, and also on a security level, because we can have infrastructure security issues, we can also have people security issues, like robots, who are now increasingly involved in traditional finance and digital finance. So, I mean, and I think the level of security is not taken seriously today. Why? Because we don't have any specific examples specific examples . Today, there are no quantum computers that can hack your computer or your banking system.

But it could happen at some point, and we just don't know when just don't know when . That's why I invite everyone here to think about infrastructure and security, and you need to connect with the best people who can help you securitize your business, your assets, or whatever you sell or profit from. That's why I created a good FMC and I'm here to open up this topic of security and I mean it's not evolving fast enough. I've been to four conferences in one year and no one talks about it . Very few people.

So I invite everyone to think about this topic, and if you want, you can contact me on LinkedIn and I will be very happy to help you. Well, I'll keep this discussion open because we have another expert on this subject, because before you went to Barcelona, ​​you were a professor of quantum physics. Is that correct? Well, I'm sure you have a much better question for him than I do. So please continue because I am very curious because it seems like we are taking a lot of risks by not being well prepared.

What are we risking? Good. That's pretty good because I work for FC Barcelona. So we think it's something emotional, time and stuff . But before .

But before joining the club, I was a university professor working in the field of quantum technologies quantum technologies . So I have a few articles on quantum computing from 2001, 2002, things like that. So I was at the basics of it . Yes, Sasha is absolutely right. I think just 10 days ago, a company, an American company called IonQ, already had a plan to crack Bitcoin cryptography in 2028.

And this is a specific plan. The machine doesn't exist, but everyone knows, let's say in this field, that in a few years we will have what is called a cryptographic quantum computer. We must be ready. So, this is called post-quantum cryptography. We need to be ready and act before that happens, because it could happen that the entire, let's say, blockchain-based economy and these things will lose all their credibility because quantum computers break cryptography break cryptography .

And cryptography in blockchain is extremely important for digital signatures, for hash signatures, for hash functions, for the consensus mechanism consensus mechanism . I mean, it's a cryptographic, let's say, complex process. So, that's the gist of it. We have to protect all of this because, well protect all of this because, well , we do all these great things, but, well, they can all fail if we don't fix it. Is this correct?

Yes, okay. Well, I think that's a good bridge to the theory section, because of course there's no quantum computer here, but other than those threats, I think Alia... Oh, yeah. Quantum quantum computers are here. So, just to say about some companies, but I mean there's something called quantum as a service.

You can connect, I mean, your computer to the solution, and then, uh, go to a quantum computer. There is IBM, which has a quantum computer with more than 1,000 qubits. These are so- called physical qubits. They are imperfect. There are certain error rates, things like that.

Therefore, a lot needs to be done. But as soon as we have a quantum computer, say, with a thousand logical, that is, almost perfect, qubits, then we will be in danger. Good. Well, then, I think it's good that you both brought up the subject. And then, I probably expect next year we'll have a lot more panels specifically dedicated to this, because it doesn't seem like it's that far away anymore.

I think we always thought it already existed, but you're saying we need to hurry up to fix it. And one important thing, I mean, quantum computing may be a problem, but it's also a solution. Quantum random number generation is a solution to many security problems, uh, for example, regarding hash for example, regarding hash functions. Okay, but there are also many things in quantum technology that could be the solution to all of these problems. Good.

Thank you. Good. Aliya, I promised to contact you because I'm curious about what else needs to change from a regulatory perspective to continue implementing everything in the chain? What will be the next steps for us? Because although Bermuda has already come a long way , what can be improved, but what do you think still needs to change here?

Well, first, I'll ask my colleagues at BMA what they're doing in the field of quantum computing to make sure we're ahead of the curve. I'm not really worried because they're always, uh, on the forefront, in terms of , I don't know, looking at built-in surveillance and tokenization and so on. So I'm sure they're already working on this . Um, but in a broader sense, I mean what we still have to do in Bermuda, and what remains a theoretical question to your question, then I guess it's about the government overcoming the obstacles associated with legislative changes. So that's what we're working on right now we're working on right now .

The Cabinet has already approved various things, such as updating our investment committee for sovereign wealth funds to allow them to invest in digital assets if they so desire. This is not a government or political decision, but if it is a smart investment choice, why not have the option to invest in, for example, a tokenized money market fund? So it goes through the legislative process. And another option for us is a digital Bermuda coin or a digital Bermuda dollar . So we are not trying to invent a central bank digital currency.

This will be a private sector-led initiative, with government support. And so, we're now doing a comprehensive review on our end of what this actually means for us, as you know, a small jurisdiction with a currency pegged to the U.S. dollar on a one- to-one basis. We can use USDC in Bermuda as if we were using our own legal tender.

So what does it mean for us to have a Bermudian dollar that can simplify the payment of government services, to be able to have programmable money for people who need to access social assistance, healthcare, and social assistance from the government? So overcoming these processes of legislative changes, I think, is the most important thing for us at the moment. And what has been really helpful on our journey since 2018 is the political will behind it. So, you know, the government, this government you know, the government, this government , was first elected in 2017, and they came in and knew this was what they wanted to do and they supported it all along. And similarly in our regulator, you know, the current CEO of the regulator was also one of the main architects of our law on digital asset businesses.

So, whether it's on the regulatory side or the political side, there is momentum moving in one direction. So this will help us eventually overcome this limit. Wonderful, absolutely. What are you changing here? How can we learn from you?

Because I don't see what you're describing here . Governments are taking the initiative. Come to Bermuda. Yes. Okay, great advice.

I heard it's great there, so maybe I'll come. But on the topic of regulation, Marie, is regulation a barrier to...Is it a barrier to real estate tokenization in particular? Because we have MiCA here in Europe, but it's for crypto assets. This is not for tokenizing real financial or real assets in that sense.

Yes, I mean, anything new is difficult for governments to regulate. I do n't know if that's a hard word for the world, but they definitely don't like it. So, they don't like it, so we have to find ways. So, we were definitely pioneers in discovering this way of tokenizing real estate, but in Spain, for example, this is not yet the case. So we were actually born in Spain, but we had to move to the States to continue our business.

Otherwise we would n't exist, so imagine that. So, definitely, this is a big, big thing. So that's also great because when we get regulated, the mainstream comes. Well, first everyone needs a wallet. So, you know, to the question of what is theory.

I think the theory is still that people don't have a wallet. Like the mainstream, they still don't know what a wallet is, a digital wallet, of course. So, I think it's still a theory, but yeah, it's definitely a theory. Regulation will come, but we will adapt. We will always try to adapt to what is available, and we pave the way if we need to.

Yes, and it gives me a little hope that even without clear regulation, you're already making this a pretty big fresh show. I can only imagine that it will become even easier, with fewer obstacles, when the entire regulatory landscape also becomes clearer on these specific topics. Okay specific topics. Okay , I see, we have about 5 minutes left. So I have a question for all of you question for all of you .

Approximately 1 minute to respond. So, if you could change one single thing to help the world move everything into the chain, what would it be? Can I start with you, Judy? Uh, okay, we're having a revolution in agent-based AI. I would like all AI agents to be in a chain.

AI agents in a chain. Yes, because they must mean that we need their integrity. We need traceability. And this revolution is so big that if we don't do it this way, it will be a nightmare. Okay, interesting.

Thank you. Uh , Alia? Of course. I think in one word I would call it partnership. So, I also mentioned how, I mean, for the government to achieve this, it had to rely on our regulator, on the support of the industry, um, you know, doing an airdrop.

We did this in Coinbase and Stellar wallets. So it has to be, I think, a combination of collaboration with industry, government and, um, the private sector. Cool, interesting. Sitar? Yes.

Uh, as for us, I would like to be able to bridge the gap between humanitarian work and the blockchain community and solve other, for example, we face a lot of challenges in our daily work when it comes to finances, for example, transferring cash from one country to another, for example, in, um, you know, in, uh, in 2023, when the war in Sudan started, we received over 900 wounded patients with weapons right across the border in eastern Chad, in the Sahara Desert. So, imagine that in such situations, you don't have time to open a bank account bank account , and you can transfer money from one country to another, buy medical supplies, and respond. Blockchain can do a lot of this very quickly, and it can also be used to protect patient medical records, because the patients we have are refugees, displaced populations, they often move from one place to another. And if they are registered with our clinic in one place, but are transferred to another, they effectively lose their medical record. Like a child who gets treatment for malnutrition, when they are transferred to another location, no one knows what treatment was done before and what needs to be done now, and patients cannot physically carry any of these records with them in such situations.

So, I think everyone, most of them still have cell phones. So I think there is huge potential to help humanitarian services with this technology. Great, thank you. Sasha. Yes, what needs to change is, of course, the security levels.

Essentially, a quantum-safe approach. This is the highest level of security you can have. But essentially, the first thing to do is make sure nothing happens again . I'll explain in just a minute what happened in Monaco, and nobody's talking about it because nobody wants to talk about it. Founder of Zonda Crypto, a centralized exchange from Poland.

I see exchange from Poland. I see someone knows about this. They have been advertising in Monaco for years: at bus stations, on buses, on videos. They got over 80 million under the management of this exchange , and from one day to the next this guy just disappeared. We don't know where he is.

We don't know if he's still alive, and nobody is talking about it , not even the regulators in Monaco, not even the special financial institutions, because everyone is too afraid to talk about it, but we shouldn't be afraid to talk about it. We need to talk about this and find a solution so it doesn't happen again. Thank you, Maria. Well, I think you hit the nail on the head. I think it's going to be important for us as legislators to be a little more open and, you know open and, you know , explore, but allow companies to develop the technology.

And I think that's the only way we can continue to grow and for everyone, at least 5, 6, 8 million households, to be able to invest in real estate or other things that are online. Perfectly. Well, five completely different perspectives on bringing everything online, but what strikes me most as a common ground is that everyone is trying to make a meaningful contribution. There is no speculation. They are trying to help make the world a better place by moving online.

So thank you for that. I really like it. Audience, thank you for being here, also EBC, sponsors, everyone who made this happen. Please stay in your seats, because as we've already heard, we had the startup finale, the grand finale. And now, well, oh, I have a performance.

We have spaces for speakers. Perfectly. So we can stay here. So thank you all and I hope to see you again.