PANEL: Private vs. Public Chains: The Key Decision Axes for Institutions | ETHTaipei 2026

All right. Uh good afternoon everyone. So we decided to make this uh in an English session since we're seeing like quite a few uh you know non-taianese faces here. So very glad to do that as well because my somehow my English is better than my Mandarin. So [laughter]

same at least for crypto I guess. Yes, exactly. Like so many terminology. So I guess like to kickstart um well before we start like earlier we had Oscar talking about like his um solutions around like the Ethereum privacy for the institutions and now we're you know discussing this with like different chains because um me I am you know I'm very eign and all that like I've been hosting east Taipei for four years now but what I really like is also like there's a lot of insights that are coming from different ecosystem. They may have tried different things.

It's um you know experiments uh and we we want to see what we can learn from those and this is also the reason so had the honor of you know pleasure of having you guys over to have the chat but uh before we really start on the panel maybe we can do a short introductions of yourself and yeah go from there.

Awesome. Well great to meet everyone. Uh my name is Tegan. I lead strategic partnerships at Canton Foundation. Also happen to be based out of Taiwan.

Um so great to be here.

Hi everyone. I'm Kaye. So I'm Tis but I'm based in Singapore. But always great to be back to hometown for East Taipei. And then I I know I since 2017.

I built IOTA management company since 2018. I joined the foundation since 2003. So like I know all the the good, the bad, ugly of our chain. Yeah.

All right. And well, a lot of you probably know me. I'm Martinette. Uh on this side of things. So obviously you know me as uh Quan Stamp head of developer relations.

I was also associated uh with building and help well building and seeing close of building up the L2. And because I'm more east aligned, so I'm going to comment a little bit more on the east side, you know. Uh but yeah, that's the east side and L2 side. So that's me. And yeah, since we're touching on this, maybe we can do an introductions of the chain.

I don't think um you know I believe everyone have heard of the chains but they don't necessarily know like the interesting designs and maybe something that you like to highlight about the chains uh that you consider very interesting maybe it's specifically designed for institution or you know it just happened to be very useful I think let's start from that the introduction of the chain and it's the its appeal

um so I'm from Canton foundation which is the neutral governance layer over Canton network uh which represents over a thousand different uh validators namely institutions that are running um and processes over $9 trillion a month in repo. Now to talk a little bit about Canon Foundation which is a governance layer which I think is very interesting and and why we have so much institutional adoption is we're actually co-chared by DTCC and Eurolear DTCC they uh their subsidi subsidiary in the US DTC is the central security depository um in in the US they custody over 100 trillion or so in in securities so That's that's the scope of of what we're targeting at the network. And uh a CSD they essentially they handle custody of securities in the traditional finance market but also the settlement and transfer of ownership rights of these securities. So what's been very interesting is how we work with uh the DTC and its member clients, the customers on the buy side and sell side like your BNYs, your JP Morgans, like your Goldman's etc. to help bring better efficiencies in collateral and collateral mobility um securities lending in in repo and and uh this whole market um especially as we try to aim towards being a a T plus zero uh uh financial state.

Yeah. So I work for ITA foundation. Iota is a very old one. We do a fair launch back in 2015. We do our uh uh man launch 2017 and we never get a single sand from BC and then uh we are the first layer one register in Berlin in European Union.

So back in 2017 IOTA foundation was set and then we get uh uh like 2022 we have the Swiss foundation 2023 IOTA the first regular layer one foundation in Abu Dhabi in UAE. So we we always believe like we need to be a neutral and the credible uh like foundation to work with government. So Iota we have we always has two belief. The first is uh we believe crypto go beyond blockchain. So we are the oldest stack in the space.

It used to be called tango. In the early days we were very capunk. So we do like trinary feless transaction pqc in 2015. That was very crazy. So we do a more moderate a modern design in 2021 to clean our technical DAP but we still have the sponsor transaction because we know for institution to DAP you can ask them to pay the gas itself directly and we also have a like all the construction so people can use pass key or however they want to sign and the second pillar we always have is like uh we believe crypto will go mass adaption through government institution collaboration.

So given our names you probably remember in our early days we working with like Jaga or or like tapes city government for all the IoT related marity stuff but and then after 2020 we more focus on the trade logistic and trade finance. So basically iota we now work with trimmer Africa world economic forum Tony PL institute to really try to bring the whole um Africa and bring the whole uh UK and bring the whole EU trade data on chain because compared to like the VC if you involve like human data there's a lot of like GDPR or whatever but if you try to deal with the goods and the trade that will be more um approachable so that's a long story short for IOTA we try to bring uh the we try to bring we try to be the trust layer of global trade. Yeah,

I would actually want to ask almost exactly the same question but because it's Eth Taipei and Etha is like more you know today it's kind of like a mix at its core it was a developer you know conference research conference so I have to ask as a nerd like what is the introduction of the chain on the technical side like on the technical side what will be like exciting because that's something you know like I I'm kind of like in that sense neutral whatever excites me as technology excites me right um I don't care if it's from specific nation or ecosystem whatever I'm a techno nerd please you know chain pill me I don't know how it's called but [laughter] yeah

okay so let me go first so um when we come to like iota sn or our ecosystem we have a lindy effect we have been here for very long But in terms of tech we always keep improving because uh like we know um like information science is keep evolving. So back in the day 2015 tango was amazing idea is the first stack but we know a lot of people they also use tech now like launch phantom kaspa and even su. So uh back in the day we do have a chance to really release our iota 2.0 zero that's as our own tango but at the end we decide if someone else like Mr. lab already built much better infrastructure than we learn from them.

So basically we upgrade our UTXO uh deck to uh move VM based deck. So uh because like as you know UTXO is hard to implement smart contract and we know smart contract is necessary for ecosystem for partnership. If you are just a store value like uh bitcoin or zcash maybe you don't need smart contract but given we really want to have real adaption smart contracts needed. So we have one shot to decide which VM we use and the at the end we choose to uh the most advanced design at the moment and we still believe that's the case and move VM or object move is like you you basically took the best part of account base and UTXO base and you mix together if your uh object is simple you do transfer for example I transfer something it don't need a consensus to order the transaction because it don't really involve in you don't you can have a loose like causality over there but for example if we both need to trade to the same uh uni v2 style decks then they need a total ordering then we need then this thing is be called as a share object so um in foundation we believe like uh uh the thing from Facebook Libra DM to mist lab it's amazing so we learn from them to really uh like we borrow their VM and we still keep our own consensus. We believe uh institution government care more about resilience than latency.

If you are very diggent, you want to be uh very fast about your mean coin trading. Yes, your latency should be 0.2 millcond instead of 0.4. But for us, we believe the worst case should be better not just like you only improve the best case scenario.

So for us uh our latency is not like a state of R but our worst case is much better than uh our competitor in some sense. So that's a long story short like we keep involving our layer one which is very weird in blockchain space. I do agree because like if sounds like immutable and then uh can like you always have technical dep but uh we already kind of like uh upgrade twice. So our many launch 2017 we clean our 2017 tech in 2021 and we do we choose our VM 2025 that's what we have

and that was the EVM

now we are the move VM which is the same as the sui and and and optus which is move yeah

amazing amazing so ten

yeah so actually going off the UTXO base of of move um canon as a consensus language takes a lot inspiration from that uh what our consensus is called uh is proof of uh stakeholder uh I'm sure Marinette can be uh you know appreciate what what we're trying to build here and that is to allow institutions the ability to do transactions on chain while having privacy that that's our our biggest kind of focus area it's it's enabling institutional privacy how do we achieve that what we say is that when I originate a transaction only the counterparties that are involved in that transaction actually will see and participate in consensus. So for instance, if I'm sending USDC to you and I'm a bank and you're have your your uh MetaMask wallet, right? And obviously the asset being transfer is USDC. So the first person being involved in transaction is circles validator saying hey this USDC that that I'm sending over is indeed uh my cryptographic signature. A second would be from the bank side.

Whichever um you can think of it EOA, we call it party ID. Whichever party ID that hosts that USDC that is making that that uh send do the uh HSM uh sign off on this on chain and is there different validators that that has different policy engines around that. So they would also participate in consensus and of course your side you would uh using your your MetaMask wallet sign off like yes I I wanted to receive this and then that will create one atomic transaction on Canton. Um the caveat and an important thing to notice about this um in this example transaction flow is despite us having over a thousand validators on the network only in in this example five validators actually saw that transaction. the rest that data did not even touch their validator which is crucial for financial institutions because one let's say um in Taiwan uh if I am under the local regulation and it says the validators the nodes touching this transaction data can only be on prem and you know has to satisfy GDPR where uh etc compliance I can actually say yes transacting on canton um fulfills this oblig obligation.

If I'm in Korea and the FSC in Korea says, well, it has to be a private uh blockchain to do STTO issuance, this consensus satisfies all of that. And and that's why we work across different jurisdictions. That's why we've been able to do repo crosschain from Japan to US between JGBs and and you know US treasuries and and uh that is how we we're aiming to to bring Taiwan um and and broader APAC um onto the Canton network.

Awesome. I I I have a technical like you know like nerdy question right after but I'm going to hold it and maybe like someone in the audience will have it. I'm like from the east side like I have always understood like you know transactions like finality etc. I'm used to transactions like being final and also like the concept of like we have a bunch of like validators looking at it and for in your case you mentioned like only five right and I think IOTA has like very different model on that as well. So you know I have like tons of questions there but um I I do want to get to also like the adoption side of things.

uh because you you guys mentioned like there's like different kind of adoption like for Ethereum I think it's um I think the clear example will be like just the amount of USDC sitting on the chain forgot the actual number but it is it was 10 times Salana uh and Salana was like the non EVM you know second nonem there so that was like oh okay that was pretty big I I looked it up today I have a very bad memory and I still only remember it was 10x still 10x is pretty good. Um but I I was so that's kind of like um you know at least on stable coin side that's what Ethereum has been doing in a way you can argue that is the institution adoption but I wonder like you guys also work with like different projects like what are you guys uh what do you guys see in the institution adoption side for you? So for us uh we mainly start with the trade logistic because if you do supply chain tracking involve no financial asset or financial institution it'll be much easier to start with. So we start with Kenya and then UK. So basically you help the single trade window to put their uh data hash on chain and then you have a trust like u you have an authorization means like the company can sign uh like uh they put this data on chain and then the company's uh credential is signed by for example Kenya's trade single trade window.

So we deal with the trade data first and then uh that's how we do in the past few years. Uh we will go we will bring this thing to the whole Africa. So there's something called FC uh FTA basically uh whole African content FTA and we work with uh FCFTA to have a PLM called adapt in the future 10 years till 235 will bring uh like more than 50 uh or more than 30 African countries they trade data on chambers but we know um like the lucrative business is definitely not a data business it's the financial business so what's the next step just like now we have the traded onchain and this is very neutral is like trust by not just us but also Tony PL institute trademark Africa uh work on foreign so what's next step so some like coffee farmer or avocado farmer in Kenya they already get their uh documents sign and then they put a hash on chain listing can be verified but the thing is already in the warehouse in Nairobi but the buyer in Singapore the buyer in uh UK they they don't want to pay when when the avocado or coffee still in Nairobi so someone can pay that in advance given this trade data is on chain can be verified and also issued by the government. So that's how we start with the uh trade finance uh this year and as uh Martin already mentioned one of the most important indication for the chain usage is the stable coin uh uh uh insurance or you can say TVL and and the volume the problem is like we need to on board one major stable coin. So a tatter should be uh on iota by the end of this months after very long conversation and so on so forth.

uh we are non EVM uh it give us a lot of like uh uh we know EVM is great but there's a lot of technical depth so we choose move but it also get our life much harder to integrate with all the infra no matter you say stable coin provider like like ter or like infrastructure like zodia or bigo uh nv always lead to a headache but we we think it worth it yeah

yeah maybe based off that I' I'd be very interested to know how iota handles the privacy for that trade data because um

yeah so we don't put the trade data itself on chain because uh we know that's always a privacy concern so we always put the hash so basically if we are like we work with Kenya so some government officer in Nairobi layer layer AWS maybe have a key to sign however and then this thing provide a a trust like anchor or a framework so I for example I'm a coffee farmer I can use the key to sign like uh this hash on chain is signed by my company. So this trust at the end all the all the data itself is offchain only you can see someone sign something and they record like the hash of the PDF is onchain. So at the end if someone uh in London they receive this PDF they just check whether this thing is signed by whether the hash match the PDF function and then they see this hash is signed by a coffee uh uh uh farmer in Kenya and the coffee farmers in Kenya the credential is is signed by the Nairobi like a single trade window in Kenya that's how the thing work so we also don't put any data itself on Chinese just because blockchain itself uh is immutable and it's transparent iron. So we that's how we do it. Yeah.

And can I ask for the hash like where would that be store the PDF? Is it just in

so the PDF for now is offchain just totally offchain like we also know a lot of the jurisdiction they ask like your data cannot for example leave the country or so on so forth. So given iota we have close to uh uh like dozens or we're close to 100 valid data. We have validator across the world. So if you just put this plain text on ch it definitely just uh cannot fulfill the requirement of some jurisdiction. So if you just put the hash then that's doable.

So basically that's how we do it. Yeah.

How about canton on the side of things on the adoption side?

Yeah. Yeah. So, so the reason I I asked those questions was because um for example uh in July of 15th, we had DTCC uh formally do their test trades of bringing US treasuries on chain uh on the network. And as a part of their considerations of choosing Canton, they had to make sure that you can actually bring data, the the CSD data, the the proofs and records uh of ownership records, who owns, you know, this these different assets, you have to bring that on chain. Uh why do you have to bring that on chain?

Because let's say for example, I'm just pointing to a hash on chain. uh and the corresponding PDF or trade data offchain that matches to that hash. DTCC would have one in their database. Someone in Taiwan will have the one in ours. Um but what happens when there is uh a mismatch between that?

What happens when your off-chain records go astray? Uh there there's a disagreement around who owns what because of our off-chain data not matching. You have to go through reconciliation. And that's the same pain points we have in traditional finance. That's why we have all of the back office operations in place.

And and this is why what we had to solve to bring DTCC on chain. Um that's why they chose us as the first uh blockchain to to be a part of. And that's also why Broadri Trade Webb, these financial market infrastructure providers, they handle post-trade settlements in the the trillions um in in trading volume. they are comfortable bringing their buy side clients which they represent JP's Goldman's of the worlds bringing them on chain because JP Morgan knows when I do a repo on Canton my competitor will not see that and for these buy side verms be via Citadel Securities via DRW uh this is very important to them

yeah I have a questions on that so you I you didn't quite understand the part where you said um you have a you have the full well you were asking him like there's a transaction hash there and there's like two party holding the docs and then they have a mismatch that part I didn't understand because if the file is different then the hash is different basically like it's very unlikely on the if you're using a cryptographically you know secure hash then my understanding well that shouldn't be possible like probability wise So I must have misunderstood that part. I want I want to ask you like what do you mean by that exactly?

Yeah. So let's say I have the trade data and it's a PDF, right?

I probably have my own data storage that stores that PDF. Uh that the hash was created to reference that PDF, but then both sides would end up storing it in their own database. So what if my database got hacked or got corrupted and I lost that PDF or something around the records got altered

right? Uh so if it got altered then the transaction hash would be different right and so one side let's say there's two parties party A altered got hacked altered crashed whatever the computed transaction hash would be different for this guy so we know his data for sure

I think the problem is like data lost right just like if it's altered we know but the problem is like for example

someone data just disappear. How to solve this problem? So

um for now like in our case the data store with the sovereign engine stays database. So they have their full ownership and in the future um you can always like explore like IPFS or or Aweave or some other decentralized storage protocol like Warlo. So like we also appreciate Mr. lab build you a lot of cool stuff so we can learn from but at least moment um the data itself is offchain and only the hash is on chain that's how we we feel comfortable and how all our um partner and all other stakeholder feel comfortable yeah

yeah that I totally uh agree with like you know mismatch it's easier to detect that but like if it's gone then it's gone so in the canton's case like you can basically bring it on in uh relatively cheap um actually in theory all the blockchain you can store it it's just very expensive right and so maybe that's a follow-up question what's the cost like from your from your understanding

yeah so for due to the way we do consensus you can basically have your own like database uh tied to your validator because you you run a validator on on the network um and so the cost is just what is the action transaction data payload code. So within this large PDF that I have, you know, in my database, what am I sending over to you to to do um verification on it? It could be just a small part of of that uh larger data that I'm bringing.

Yeah, I I have so I have so many questions I want to ask on the technical side there. But um we we should continue. But but you say for our case it's much easier because we just uh for example uh for the move like optas use host stuff consensus uh and then uh like uh sui use and we use something called starfish and because it's well the reason we call it starfish is like starfish has more than one head so it's very hard to chop and kill the starfish it's more resilience and if you control two ser of the state then you can ride basically anything. So long story short, we are a typical blockchain in this sense. Yeah.

So the next question I want to go to is like when you're working with institutions, what be it nation states, be it government, be it uh you know financial institutions or like you know some other traditional businesses, right? What are the concerns that you have observed that they are they do really care about? like you already mentioned some like hey this this government doesn't allow any this kind of data to be on etc. So yeah,

so uh you need to be a neutral nonprofit organization. So Iota or uh trade war information network is not the first blockchain uh try to solve this like international trade supply chain issue. So you might heard IBM work with Costco before. You might heard IBM work with mask to do with some uh permission chain code uh trade lens. So we are not the first one try to bring the trade uh onchain but the problem is like if you work with one of the major player in the space all the competitor will not join and then like if you don't really solve a large scale coordination problem why not you just use AWS why not just use SQL so stay neutral and stay on profit is very important especially like uh you need to be uh unsure you cannot say you are some very weird kind island whatever thing you need to be a proper on uh onshore uh foundation.

So that's how we get trust because we has been this space for like 10 years. So I would say for iota our tech keep our c uh tech keep evolving but the lindy effect is from the brand and from the legacy we have for the past 10 years.

Um and then it's just not our just not our it's just not our stuff. So for the twin the trail information network iota is only one of the board members. So iota foundation and then worked on me before tremor Africa Tony Blanch to so on so forth. So I want to get all this big name to on board with us. So basically twin is uh a piece of software at the co is written by foundation but it's not just backed by us.

It's also big by all uh all the others uh uh big names. Yeah.

So a bit of a copout answer but is what I've been talking about all day. It's it's privacy. Um, and to go a little bit deeper into that, uh, for instance, we've had, uh, Zena, which is like a life insurance provider in in the US, where they're a life insurance admin platform, and they utilize the blockchain to do coordination of uh, life insurance and annuities. uh as especially in the US when you transfer your life insurance from one provider to another there's a lot of data records and it be settled you know very private um data records that could include your your SSN and so on um and that could take 30 days 60 days it could take six months

we actually have people's life insurance you know health info their social security numbers on chain on Canton um that that's the degree that they actually trust start our network with uh and and uh I think that that speaks volumes in terms of what we've been able to achieve in terms of partner trust. So kind of like quick summary like you're saying like on the political side more foundation setup that's your point your point is privacy um but then I also I recall the earlier point the other one that I remember was uh to be able to host the data on chain there um is there some other points just curious um the reason I ask is uh I'm a spy from Ethereum obviously [laughter] I want to learn so as Ethereum folks we do know privacy is important right uh so that's not new information and I kind of want something that is interesting data to be completely onchain is kind of interesting uh as a requirement obviously like how they think the data is onchain and how to actually prove that that is another uh one their a question of their imagination and maybe second is the question of tech like technical technically how what does it count to be onchain etc right there's a probably a whole lot of debate right there um that was actually part of like the [laughter] follow-up question I want to ask like I want to nerd out but um do have you observed other like requirements that come up uh during the discussions with them aside from private acy and aside from the data on chain.

Yeah, I can take that. Um, I think the the biggest thing is just the value prop. Hey, if I come on chain, if I bring my securities, my assets to the network, what's the use case?

Who do I trade with?

What can I do? Where's the the demand? Where's the buy side? Um and and so that ecosystem effect is I think actually the most important thing and what what I always lead with in Taiwan for instance. Um it is how does Taiwan enter the the global market?

How do we bring our assets you know into the global market with other counterparties that are on Canton or how do I make purchasing of US treasuries easier for Taiwan institutions? How can I lower my USD funding rate due to being able to tap into intraday liquidity on Broadri? That that's a use case immediately. Uh I could even lead with hey do you want to do trading with Goldman on chain and do a PR and and that that would be like um something that that a lot of people would would be very interested in right in Apac because it it's all about speaking their language speaking what does blockchain actually uh attribute to you be it P&L or be it you know uh potential use cases that I can use to to climb up and and and get credit for right

yeah yeah to totally totally I sorry you want to add anything

so like definitely we need to solve real world problem. So uh like trade finance is a like huge business is like trillions of dollar and after financial crisis the regulation make the bank harder and harder to do the due diligence for small farmer minor in like Africa or other countries. So they have a huge funding gap. So once we can put this trade data on chain trade finance can follow. So for example, IA foundation, we have ecosystem project or solos.

They already help like titanium or or copper or eurbium some weird like rare earth metal in in Rwanda. And then you put like like one cargo of the thing can worth like a few million dollar and then you get this you get the you get a receive on chain you you have the IoT lock like you have the um satellite monitor and then you can do listing as a trade finance. So we do trade finance for coffee and avocado but we also do it for critical minerals. That's how we think uh uh like if bank cannot do this trade finance we can start to help and that's that's our value propos proposition here. Uh and like as far as we know government is always more uh uh like happy to start with the trade data but that's that's the first step and we always know the menis is the trade finance.

Yeah. So I I'm commenting kind of like from a Ethereum people or like community member perspective. It's very interesting because I think when ETH folks kind of like naturally think about like hey what's the appeal for the chain like we naturally go to like just the technical technicality of the chain itself right uh like you know the con consensus the finality etc. um what I'm hearing and this is you know I I'm I'm trying to learn from them like what they find intriguing with the conversations uh with the enterprise with the government is that these are the conversations that actually intrigues them the real application so the the chains the foundations are actually doing the apps themselves obviously there's I don't think there's uh there could be right and wrong you know depending on how you think I'm presenting like this is kind like the learning I'm getting like that's your standing essentially instead of like this is the platform it's very interesting I think you know there's sometimes it's lux sometimes something you know wins out etc you know it's uh it's interesting to see different folks uh philosophy now um I do want to get to because it's still again the technical side of things uh the research more on the technical conference I like What are the tradeoffs for the architecture? Because we are engineers.

We know that there is no free lunch, right? Um there's no way that Canton can achieve that awesome privacy with all the data on there without any little bit of sacrifices, right? Like Ethereum also made a lot of sacrifices in order to achieve a lot of the great things uh we consider um really good. IO also did that, right? And so like as engineers, we know we're taking the tradeoffs and what are the tradeoffs that you know you you find yourself like doing and then like

yeah start on that.

So um the first is like our like at the end blockchain our nodes run in physical world we don't really live in vacuum. So you need someone to run the nodes and the nodes to run iota node is definitely much more expensive to run than uh uh easier nodes. So first is more um centralized that's for sure and another thing is like we use our consensus do limit to the number of nodes. So maybe we can go to 100 150 but we for sure cannot go to 10k. So it's always a debate whether how much is enough of decentralization.

We know one is for sure centralized and we know probably 10k is for sure decentralized and we know sla probably have a thousand and we know most cosmos ch maybe have 100 150 and we also know maybe uh binance smart chain has like 27 or 45 but at the end it's a spectrum so we believe uh this is definitely a trade-off uh but not every single trade-off sometimes like brilliant idea really uh give you first principal improvement so as we say uh like blockchain do sell block space but not all the transaction need ordering. So for iota or for move VN or for the deck we found if you don't need to order some of the transaction you just go through consensus and get approved then you you save a lot of the resource over there on only when this transaction they are competing to the same thing like a uni v2 pool then you need to order it. So I will say uh the move v and order deck do provide a first like a first principle improvement not just uh technical trade-off but we also agree like uh at least for the no you need to like get a much higher hardware cost compared to running the ether nodes. Yeah

I think for canton uh the the biggest trade-off we made was how like defi developer friendly uh it is. I think the beautiful thing about Ethereum is that, you know, out of out of my garage, I can deploy a contract onto this network that can be utilized to move, you know, value at scale across the world. With Canton, you can do it the same, but it requires a lot more management, uh, a lot more responsibility. Why? You manage your own, uh, validator, you manage your own data.

uh when it comes to the applications you deploy onto the network, you don't deploy it broadly onto a set of validators. You are the validator yourself and you are in in charge of that infrastructure, the uptime of your own application. Uh that that's I would say is the the biggest trade-off that that we've made. It's it's what institutions prefer, but it's probably not what um a a a dev, you know, trying to spin up a a UniV3 fork uh would want. Okay.

Um, so I think our time is almost done, but like I think I like, you know, for you guys to have some final words. Let's final words for the crowd like why should uh what's the winning perhaps? What's the winning part of the chain or you know, anything that you like to chat about?

Yeah, maybe maybe I can go first. So, I I always like to tailor my talks to to the audience I'm in. And you know, uh Taiwan being very close to home. My mom's Taiwanese. I I live here now.

So, uh I speak Mandarin as well. Um I I really want to see uh us as as you know, Taiwan Capital Markets uh being a pioneer in Apac and coming on chain. And what Taiwan currently uh allows under current regulation is only private chains like BESU. you have to have everything running on premise. Uh most of the financial institutions do not allow cloud-based software at all.

Um and so the biggest takeaway I hope everyone here understands is Canton is open source. We can allow you to deploy your validators on prem. We can allow you to run your own infrastructure and have complete sovereignty. I think that's a gamecher and something that uh a lot of folks in in uh the region uh do do not know yet about Canton. Yeah.

So when you come to IOTA, I want to know like for IOTA Foundation, we always like we know we have a very strong community in Taiwan. Uh I'm just the company lead, but let's also come from all the company member and then uh not just like the MOU we signed with TCD government back in 2018. We also have like for example we have turling certificate or still do all the education certificate and did the in Taiwan for the like uh school and for the government officer. Uh we definitely want to really work with government but we know it will not be fast but the good part about at all layer one IOTA is like we know uh like it take time and we have patient. uh for example for the European blockchain service infrastructure for EBSI we took four to five years to get a pre-commercial process is even on production it's already cost us to four five years to do like the things in EU so uh I think the take-h home message is like uh Iota we may be slow but we will get there and we have the persistent to get to get thing done to deliver yeah and from my you know, uh we're in the east community here.

Um the reason I'm inviting, well, there's a couple reasons that we're doing this institution day to start with and then on the institution day to have the uh you know pleasure to chat with the other chains. I have a lot of friends like I'm al I would consider myself quite cryptonative, quite decentralized maxi in some way, privacy maxi as well. But I have friends also on that spectrum but in the more extreme they don't even want to talk. I'm a technical nerd so I'm neutral as long as it's great. I'm also a perspective nerd.

there's more things maybe than technical stuff and that's what I want to learn about them because they are you know in some way successful like at least continuing to survive and here and new and coming etc right so I think there could be something to learn at least like good for the knowledge and with that I'd like to wrap up the panel thank you guys for staying and thank you panelist thank you ten thank you Kaye thank you

okay thank you Martini Egan and Koway for bringing such a comprehensive panel. Um our next panel