will chainlink go back upBuilding Web3 Together: Chainlink Product Keynote Kemal el Moujahid at SmartCon 2022

roll of 1 9 gauge chainlink chainlink kucoin will chainlink go back up Building Web3 Together: Chainlink Product Keynote Kemal el Moujahid at SmartCon 2022
will chainlink go back up chainlink google blog Building Web3 Together: Chainlink Product Keynote Kemal el Moujahid at SmartCon 2022
foreign [Applause] I believe were living in a unique Moment In Time when we look back in 10 years itll be very clear how special this movement is until now there was a big limitation on how things could be built they needed to be centralized which means that Central entities could change the rules of the game at any time any way they want it Developers you had a huge dependency on Central platform creators would only get a fraction or the value they generate and anyone whos trying to challenge the status quo would risk getting shut down but web3 changes everything for the first time ever you can build an app that cant be shut down you can create an app that is provably fair to your users and you can guarantee access globally which means for the first time ever you can build a landing borrowing platform for the unbanked now think about it that wasnt possible before but now anyone anywhere in the world can build it you can build an insurance product that pays out fairly not one of these that you know you have to read into the fine prints to discover you cant get paid or something that like sends you to fight with the claims department something that pays out fairly you can create a lottery that cannot be rigged think about it and you can coordinate Global initiatives like actions for climate change now this is a huge deal one of these shifts that only happened in once in a lifetime were talking about multi-trillion dollar markets were talking about an opportunity to build a world we would we would much rather live in and a huge payoff of course for those who create it and like every systemic change the earlier you get in the higher the payoff and this revolution is Unstoppable and its already happening like until now you had to trust everyone you interact with every app every service every Institution now trust is good but having to trust everyone you interact with with no proof thats a problem trust minimization solve this problem by giving you proof once people understand they can have proof theyre not going to go back like take DocuSign for example people arent coming back to paper first time they got a DocuSign they said okay yeah thats what I want and the next time someone sent them a paper to sign it to say no no I want a DocuSign send me a DocuSign its going to be the same thing for this once people know they can have proof for the apps theyre interacting with theyre not coming back people are going to demand the things that they use are provably fair theyre going to say prove it in this revolution is happening right now a massive amount of investment and talent is going into web 3. all big Tech all Finance everyones trying to get in the technology is ready the building blocks are ready if youre a builder this is the moment to join you will make this happen the drivers of this revolution will be Builders like you you know I really think more than ever before this is the time of the builders Builders have the power to reshape the world with only a laptop and an internet connections they can you can build something that can impact billions of lives but theres still a big limitation to building web 3. and thats web3 is not connected and what do I mean by that well first chains cant connect to the external World take data for example chains cant connect to external data and when we could connect chains with external data in a trust minimized way the whole field of D5 took off now the second limitation is that chains arent suited for all kinds of computation so for example smart contracts dont have automation so if youre an Automation and chances are that you do need it well you have youre on your own to build it and then theres a whole field of AI for example and with my background I know a little bit a little bit about it and and all this progress thats happening in AI is not accessible to chains and then the third problem is that chains can talk to other chains and as weve seen during circus talk this is a huge problem because you have these assets as a developer that you want to move from one chain to the other or you just want to be able to have Smart contracts communicate with each other so the way that you build apps like you would do on web 2 with composing things with each other is not possible to do natively on web tricks and with the explosion of l1s and l2s and subnets and app chains well this is a big problem now you cant build a modern web3 app without connecting those pieces together this is very important to understand early apps were simple smart contracts but any modern webs we have that you see around you is composed of those multiple pieces multiple smart contracts or multiple chains and multiple web to resources and this makes this lack of connection a huge blocker for Developers so how do you connect web3 well this is where chain link comes in weve invented a decentralized oracle-based consensus method that solves the connection problem while preserving trust minimization for your apps and this is a decentralized community-based approach which gets better the more developers use it which means especially with the launch of staking and economics 2.0 weve built this virtuous cycle more usage drive more security and efficiency which attracts more usage and so on and as weve seen if we want to truly unlock web 3 we have to connect it this is really the next Evolution from Smart contracts to hybrid smart contracts to fully connected web apps and this is how ecosystems really take off this is how the community can build on top of the best components that the community has already built and you can build on a global scale only limited by your imagination really thanks to you Chini now has more than a thousand Oracle Networks processed 8 million calls of Randomness and has one of the largest web3 developer community and were really building a platform to help you address your three biggest needs data compute and cross chain and were going to dive into each one of them so lets start with data chain link is the leader in bringing data on ching with over six trillion dollars of value enabled and four billion data points on chain now these are big numbers but theyre really important because every new dollar you know every extra dollar enabled every extra data point deliver on chain the whole system becomes more secure and more efficient chain link is now deployed on 15 chains and this is really what we mean by providing data at scale and doing this at scale is hard because you need to bring this data in a trust minimized way in the web 3 world you cant just make an API call to get your data because this creates a single point of failure and defeats the trust minimization of your whole app with chain link you get the right data every single time in a trust minimized way and as a result chain link is now the industry standard powering all defy and Beyond now we have built this standard with you all of us together so I really want to take a moment to thank all of you and everyone watching on live stream for building this standard with us thank you [Applause] and were excited to take things to new heights with you and look at this picture you know speaking of new heights were just getting started theres so much more data being created in the world and only a tiny fraction of it is balancing look at all this value waiting to be unlocked and to do this were creating a whole Suite of products some of which Im excited to announce today lets Dive In lets start with the nft space the next chapter for nfts is to be used as assets for Lending and borrowing as well as derivatives this will demultiply the market and the opportunities in that space but to unlock this we need secure reliable data for nfts nft floor pricing feeds solve this problem by providing the risk averse price for any given connect collection now determining this price is far from trivial so today Im excited to announce that weve partnered with coinbase to bring you the highest quality data and Id like to welcome on stage Michael Lee VP of data at coinbase to tell you more about it please take your seats for this presentation [Applause] thank you Kamal hello everyone all right hope everyone is having a lot of fun at SmartCam for both audience in the room and also a lot of people I know on the live stream as well my name is Michael Lee Im the VP of data at coinbase Im super super excited to be here announcing our partnership with channeling on empty floor pricing fees coinbase is building an open Financial system for the world we make crypto simpler for individuals and businesses no matter how they interact with crypto coinbase build solutions for three major audiences coinbase retail which is an easy to use custody offering for retail customers including trading Advanced trading earn the app Marketplace and FTS Etc coinbase institutional which are high touch services for institutions and Highland World individuals and Families and coinbase Cloud which is a suite of apis services and infrastructure for developers and businesses who want to build Webster products coombes has offerings across an empty space as well spending from products for end users and products for Developers for end users we want to provide everyone who want to interact with nfts we offer a wallet to store nfts and a Marketplace that you can buy and sell nfts for developers we offer coinbase paid SDK and FTD app starter kit and nft API for you to launch your nft products we aim to build a whole Suite of products to allow building and interacting with nits easier for everyone than ever the nft flower pricing fees were launching is powered by the nft API served through coinbase cloud we decided to partner with channeling because chain link is the leader in providing advisory data to the message today we dont have a high quality and reliable and empty floor pricing fees but with this partnership were looking to enable growth and liquidity of the nft market and allow developers to deploy unique smart contracts across defy use cases with an optimal liquidity profile in order to do that in order to Arrow one to consume the nft data with confidence a top party for Worse has been to ensure the data fees are dependable and reliable for the rapid growth this space has been experiencing so three things number one quality data the data fees are built on unction iot transactions from major lft marketplaces resistant to outliers and data manipulation and transparent for auditing number two scientific modeling we applied rigorous machine learning models to estimate top nft collection floor prices instead of the simple historical averaging third scalable Computing we build the whole infrastructure that can scale that can scan and generate analytics for more than 30 000 nft collections more than 65 million nft tokens and more than 25 million nft transactions every 15 minutes so as you can see were doing all the hard work so everyone can leverage this data at ease dig into a little bit of algorithm itself as we can see that at any given point the nft collection prices is a bell-shaped curve what we do is we scan every energy transaction for the collection across all major marketplaces then we remove our outliers so that we can reduce noises then we apply it to the most state-of-the-art machine learning algorithms to estimate the floor prices for the nft collection then we update that estimates whenever theres new iot collections come unction so that you always have the latest data all the time we look forward to seeing several major use cases in part by this effort learning and borrowing which can power Unchained Financial applications such as decentralized Landing markets where Webster users can collectorize their nfts index creation we can utilize rated market cap indices consisting of the top iot collection floor prices to track the market performance for the overall nft Market prediction markets we want to accelerate nft prediction markets by allowing external trading markets to connect Financial incentives to the trading outcomes of nit token Pairs and lastly the nfts we will enable a whole new class of dynamic annotes by changing the appearance and the functionality of Trades based on conditional logic connected to the floor price of an iot collection so looking forward we will expand our machine learning modeling coverage to more collections to generate more actionable nft metrics and expand to more D5 metrics as well and we dont stop there in fact well open source all the model machine models behind the scene as well as the infrastructure behind the scene as well so everyone can check how the model Works everyone can challenge how the works the model can work better and be a part of the community thats what we believe that website data products should be built so we have two sessions later today that will dig into the details will come well into join us for the conversations with this Ill pass it back to camel thanks everyone have a great day [Applause] [Applause] thank you Michael um so you can already try these feeds today on test net and it will be coming on mainnet late October all right now lets talk about interest rates interest rates are critical to unlocking the derivatives Market which is orders of magnitude larger than its underlying Market the problem today is that interest rates are fragmented and theres no real industry standard on interest rate which is really holding back cryptos potential so we need a trusted interest rate widely accepted across the industry and this is why weve decided to partner with CF Benchmark and gando head of product at CF benchmarks is here with us to share more gando thank you very much Camille delighted to be here uh good morning New York good morning and afternoon people on YouTube uh never would have thought that interest rates would be as topical as they are these days they seem to be in the news every single day so my name is gando Im head of product at CF benchmarks uh CF benchmarks exists to help raise maybe back on Hell praise investor confidence in the crypto space we do so by benchmarking investment products and providing measures of markets you may know our Bitcoin reference rate which the brr which helps settle the CME futures for Bitcoin uh or our digital asset classification structure which provides a taxonomy and a framework for crypto investing in my role I tried to look around the corner see where cryptos headed and try to see how we can help it unlock its potential and so when it comes to D5 you dont need me to tell you how much potential there is were just scratching the surface and were just getting started and I mean look at kind of where the crypto markets are relative to some of the bigger markets in the world uh in terms of financial markets but I think crypto and D5 are still missing something and thats what I want to talk to you about today the world on aggregate has 300 trillion dollars of debt and just for a little bit of context that is how you can have one person undertake a limited risk for a limited return as opposed to equity where somebody has to take all the upside and all the downsides so it plays a really important role in helping an ecosystem grow efficiently Global debt at 300 trillion dollars and no sign of slowing down it continues to grow its probably going to grow for the coming years as well all of that debt is benchmarked to an interest rate of some kind you have government debt like Sovereign bonds you have corporate debt and you have Consumer Debt like the credit cards in all of our pockets today that that is also spread globally from Miami to Macau and across industries from manufacturing to tourism to healthcare and a lot of it is benchmarked to the US Dollars Dollar interest rate benchmarks like fed funds or t-bills as you may have heard and I think crypto is no different for the ecosystem to grow and for the debt markets to grow in a healthy manner they need a benchmark interest rate curve from which things can be priced as far as were concerned we think such a benchmark needs to abide by our principles of three rs it needs to be representative of economic reality a true reflection of whats happening in the Market at any one point in time it needs to be replicable by any and all Market participants to facilitate hedging and risk management and it needs to be highly resistant to manipulation to maintain the Integrity of the markets as they grow it also needs to exist in a web 3 connected layer thats highly secure and thats why were delighted to have partnered up with the market leader in the space chain link to bring you this interest rate curve for Bitcoin this partnership leverages our expertise building benchmarks and chain links you need unique capability to power defy smart contracts on chain were pulling in thousands of inputs every day from D5 protocols from derivatives markets like Futures and perbs and so on as well as OTC activities so institutional borrowing and lending from each other and were bringing all of this together to give you a yield curve for Bitcoin a measure of the time value of Bitcoin transactions can then be priced as a spread to that curve which facilitates transparency for users so they understand what risk theyre taking on and for what reward and it makes it easier for users to dissect if I am getting a return that is 30 above the Benchmark I must be taking on some risk that is maybe a bit opaque to justify this incremental return so it gives that transparency to users and it also helps unlock Risk Management Solutions at scale so if youre involved in um Bitcoin borrowing or lending activity or if youre involved in derivatives markets for Bitcoin like Futures and options integrating this curve into your product Suite can be essential so were going to be diving deeper uh in a session this afternoon if youd like to learn more please join us and if you just cant wait to uh to learn more scan this QR code now thank you very much [Applause] all right uh thank you Kendall okay so now lets talk about proof of Reserve which is a product that allows you to Pro to provide automatic audits of any assets collateralization so this is really useful in three main use cases first real world assets are getting tokenized gold real estate Commodities currencies thats 46 trillion dollars of value and only 0.04 percent thats tokenized right now and one of the biggest blockers in this tokenization is being able to prove that the asset is collateralized another very important application for proof Reserve is the security of liquidity Bridges liquidity bridges are very useful but they also need a lot of security and so to increase the bridge security you need to be able to automatically audit their liquidity and finally stable coins need more transparency to fully take off and for that they need also need to be able to prove that theyre collateralized now all these three problems can be solved by proof of Reserve and the way this works is it provides your smart contract with the data they need to calculate the true collateralization of any asset backed by cross chain or off-chain Reserves and weve made great progress since weve launched this product a year ago now cash is now using proof of Reserve to bring gold on chain an average using proof of Reserve to increase the security of their Bridge and to talk about how stable coins use proof Reserve were going to listen to Raphael co-founder of arcblog now lets take a look hello smart con 2022 great to see you all great to have you all here my name is Rafael Cosman I am the co-founder of archblock formerly known as trust token and we are the creators of the true USD stable coin which is a billion dollar Fiat back stablecoin as well as the true 5 protocol for uncollateralized Lending on the blockchain and Im here to tell you about a very exciting application that weve developed in partnership with chain link which is about being able to prove on chain the reserves of products like stable coins and some very exciting new features that we are launching as part of the true USD stablecoin itself that leverage proof of Reserve to a whole new level so at a high level true USD its a Fiat backstable coin about a billion tokens in circulation backed by about a billion dollars being held by our banking Partners very very simple model you can wire in money get stablecoin you can send in stablecoin get a wire with Fiat money now we have always worked from the beginning when we launched through USD in 2017. we have worked very hard to make true USD the most trustworthy transparent and verifiable stable coin that we could and that is what led to our partnership with chain link around proof of Reserve so what we did with them is we brought in a third-party auditor top 25 U.S accounting firm called armanino who does real-time attestations 24 7 of the bank accounts that are backing the true USD stable coin they examine those bank accounts make sure that the funds in them match or exceed the number of tokens on chain and then what we did with chain link is take that data and actually put that on chain through their Oracle Network and that is the core of the proof of Reserve product it allows D5 protocols and other dapps on the blockchain to directly query chain Links Oracle Network and see the reserves backing through USD and other stable coins but what we are now doing what weve been working for many months on and are about to ship is a whole new level to the proof of Reserve System where we integrate proof of Reserve directly into the true USD smart contract in a very Innovative way we are making it such that the true USD smart contract will actually refuse to Mint any tokens unless the proof of Reserve System already says that those tokens have collateral backing in them so that adds a whole new check and balance on the true USD minting process such that the holders of true USD and D5 protocols that are integrating through USD really know that every true USD thats minted is fully 100 backed and they arent even just trusting us theyre now trusting a third-party Oracle Network that also has to approve that those funds are there so thats the core of the product its something that were very excited about and we think is very timely given some of the recent disasters that have happened with major stable coins that werent built in as straightforward trustworthy and transparent way we think this is a very important time for us to be investing in this kind of technology and pushing the industry forward to have products stable coins especially that people can really trust so thats something were very excited about its something the team at chain link is very excited about and I hope that you all here can find even more exciting applications for the chain link Oracle Network for the proof of Reserve System and for all the ways that we can bring more trust and verifiability on chain so Im Rafael Cosman were archblock thank you all for being here at smart con and have a wonderful rest of the conference isnt it awesome so with proof of Reserve we can make web3 more secure all together and please check out these talks if you want to learn more Okay so until now weve talked about bringing a lot of kind of data on chain but what about your own data bringing your own data is a huge ask from our developers we see it in hackathons we heard from you and weve listened you can already use any API to connect to more data sources but we were going to radically improve it by enabling any developer to fetch any web to data in a fully decentralized and Trust minimized way and we really believe that this will unlock all sorts of new use cases in parametric Insurance Sports real estate and mainly were really excited to see what youre going to come up with so come visit us at the chain link Booth you need to learn more about this now bringing your own data is great but what if you have privacy sensitive data these are valid concerns which are really blocking this data to be used on chain now Deco liberates this data by ensuring its provenance keeping parts of the data private and interfacing easily with Legacy systems so say you want to prove that you live in a given state or you want your user to prove that they live in a given State without revealing their address lets say that you want to prove that youre over 18 but you dont want to disclose your birth date or you want to prove something about your risk profile or about your bank account Deco is the technology that unlocks all these use cases so if youre interested I really encourage you to hear more from dayamaki our chief research officer and dubrata team okay this wraps our data section now again getting back to this picture you know this has every new bridge unlocks new land were working on is unlocking this massive amount of data and all the products weve seen is really about helping you do that okay so now lets talk about the second pillar compute now for any web 2 developer the notion that youre going to use a cloud to accelerate your development is Pretty Natural but in web3 its still not the case and this is what we want to solve we want to accelerate help you accelerate your development process and the first area that we want to help you with is Randomness now why Randomness well chains cant natively generate true randomness but Randomness is really at the heart of massive markets um and actually its its all around us you know when you buy a lottery ticket when you play a game or when youre waiting for an nft drop youre exposed to randomness now how do you know that this Randomness is truly random how do you know that other players dont have access to the results before they play how do you know its fair and as a builder how can you give the guarantee to your users that your service is fair now this is where Chilean verif comes in and vrf solves this problem by giving you a provably fair outcome with a simple API call so in short like if a lottery is powered by vrf then you have proof that it cant be rigged if your app has been growing very fast in gaming and nfts and were so pleased to be working with so many of you already and with V2 weve made it faster and cheaper and more scalable solution so go check out these great talks to learn more about randomness now another another important developer need is automation a smart contracts dont provide automation so if you need automation you either have to push a button or get creative um or run your own scripts on AWS now lets all agree this is not a great thing for trust minimization so as you consider Solutions the most important thing to think about is reliability lets say youre implementing a limit order do you really want to be wondering if it went through if someone forgot to push the button or the little woodpecker stopped working or if you script died if you have a game do you want to be wondering whether your game round started or not or if you have a dynamic nft did you want to be do you want to be wondering if the metadata updated now this is why you want to use chain link chain link is the leader in reliable automation we bring our expertise in security reliability and scale so as a developer this means you know your jobs will execute on time reliably now one of our users robovault says it best so Im quoting before chaining automation I had night sweats worrying about my custom bot lending transactions reliably I now sleep like a baby I love this quote so we launched our service chain link Keepers a year ago and weve seen huge demand and we realized the vision for this product is much larger than we originally imagined so as of today were renaming it to chilling automation to fully reflect our Ambitions in the space now the heart of it chain link automation really helps you save time and money if youre building a web Tree app chances are that you need automation and you probably are building it yourself you need to build it in a decentralized way you probably need to maintain it to monitor it to scale it when youre taking when your service taken off now why would you be wasting your engineers time on that leave the automation to chain link and focus on building the unique parts of your app and were going to be continuously expanding our capabilities to let you fetch your own web 2 Data to leverage log events and even let you add your own custom compute as part of your automation so if you want to learn more I really encourage you to attend these sessions and finally lets talk about a couple things coming next first were investing heavily in OCR 2 which will make all our services faster and cheaper OCR 2 is an evolution of our battle tested OCR one and windows CR2 only one Oracle needs to transmit the report which drastically reduces chain congestion and costs and OCR 2 will power all the chaining Services we covered which is going to make the whole service a lot faster and cheaper but really the vision here is to let you run any kind of computation that you want in a trust minimized way just like you would on any cloud so if youd like to learn more make sure to listen to Lorenz our head of r d another exciting technology that were working on is fair sequencing Services Now Fair sequencing Services solves a huge problem in our industry Mev attacks and so FSS will provide state-of-the-art Solutions to solve this problem with minimum rewrites of existing infrastructure and so make sure to listen to re Jules our chief scientists to learn more about FSS okay so now lets talk about our third pillar cross chain as we know we live in a multi-chain world and the diversity just keeps increasing as a developer what this means is that you need to be able to transfer assets across chain but really to make smart contracts from different chains interoperate with each other and we know cross chain bridging is a huge need you know trading assets across many chains using an asset as a collateral to use an app on a different chain enabling governance across chain but really at a high level its about your ability as developers to be able to mix and match different components for what they are some components are great for storing value other components are great because theyre faster theyre cheaper but the problem is that security is a critical feature of any solution here now out of all the value lost this year 70 percent came from Bridges alone and its a very hard problem to solve and weve already heard a lot from Sergey on our unique approach now what Ill say is that were building ccip with those two goals first we want it to be developer friendly and flexible because we realize theres so many use cases out there but we really want to make it highly highly highly highly secure and so these are the two goals that were working on and so what next well you know without reviewing too much you should totally tune in these talks to hear from synthetics and Swift as well from Lorenz okay so weve covered the chain link platform and the three pillars data compute cross chain and the benefit of the platform is all these products that we covered really work great together so you can combine them to build amazing things just like pancake Swap and Trader Joe and synthetics that have used that are now using multiple products to power their web3 app okay now were going to talk about the most important thing of what were building and thats our community you know the reason why I love working on developer platform is that I love enabling builders and when Builders form a community well Nothing Stops a community of builders and now well pass it on to Stephen fluin our head of developer relations [Applause] about two weeks ago I was sitting in my comfy office chair in front of my computer it was a little bit past 1 am in the morning my time and I was throwing popcorn kernels into my mouth this was the night of the ethereum merge I was hanging out spending it with the my thousand closest friends on a YouTube live stream and I was struck by this moment because obviously it took really really great technology for the ethereum merge to be pulled off successfully but more than great technology it took a huge community of thousands and thousands of developers out there coming together from different organizations with different incentives different motive motivations in order to make this happen developer communities are essential to almost everything that we do this is why we believe the chain link is the standard this is why we are open source we want to build with the community when I think about developer communities when chain link Labs thinks about developer communities we really think about it in two ways first we want to find the way to make each and every one of you successful and second we want to make sure that were empathizing we want to make sure that were listening to what you are caring about so that we can represent those needs onto the team to make sure that were building the tools and products and services that are going to solve your problems and so were going to talk a little bit about some of the things weve heard today and some of the things that were going to be doing about that so first up in terms of listening this is a graph of the number of GitHub repositories using chain link this is actually a very important signal for us because the number of people that are sharing their source code openly using chain link as a proof light this is verifiable right this is truth this is public information thats available to everybody and when we look at the numbers we are very very happy with what we see if you look over the last year the number of repositories these are projects that are using chain link has quadrupled every six months the number of repositories is doubling and this is this is huge right this is a proof point of the huge amount of community adoption and not just adoption but people sharing doing it in a way that other people can take advantage of it building a network building this community and Im actually very happy to announce that this week at smartcon weve passed a major Milestone weve now hit over 15 000 repositories so give yourselves a round of applause you are inspiring the next generation of developers one of the favorite things that my team does is we put on a hackathon twice a year and we love pouring over both the winners the participants every submission we take a look at because really when you look at hackathons when you look at this moment the developers are given this opportunity to look out and see what the futures of our industry is we feel like thats where hackathons really shine whether its music licensing via nfts whether its making Dows easier making defy easier we look to our hackathons as a fantastic way to get started and this is one of the core places that communities Come Together We love to hear about teams that have come together to do a hackathon project for the first time and then they get funding they spun up into a company and they go further and further and further we build better together what chain link is accomplishing could not be done by the chain link Labs team alone we have to acknowledge that theres an entire ecosystem out there and theres problems in that ecosystem one of the problems that exists out there is test Nets when you are trying to build a really great production application you want to develop it first you want to make sure that its going to be good so you ship to test Nets but in the past that developer experience has actually been pretty terrible right different test nets for different tools there was no consistency and so one thing that weve been working on over the past few months is actually putting together a coalition of folks and this Coalition of folks brings together a bunch of the developer experience providers in the ecosystem everyone from Alchemy ethereum Foundation the graph openc and we asked the question how can we do better how can we create better end-to-end developer experiences so that when someone builds a project they can actually test it they can use all of the tools that are available to them in a fantastic way so one of the first things that this testing Coalition decided was hey it seems like Gurley is the next test net now I know theres a lot of debate around pronunciation so Im just going to call it girly testnet but and uh spelling it with the umlaut is basically impossible but were going to get past that and then really acknowledge that because weve all worked together as a community to decide that this is going to be the test that were going to use for the foreseeable future I can now have this magical end-to-end experience I can build an nft I can visualize it on the graph I can then publish it and see what does it actually look like in a Marketplace like openc I can leverage things like Randomness and automation from chain link and then I can interact with that nft via Alchemy all in the same test net to make sure that everyone thats going to use that in production has a proven experience so this is really just the start of what we see as this reaching our Open Arms across the ecosystem and so figuring out what testnet to be using as an ecosystem as a community is essential but were trying to go further what are the other questions that we could be asking ourselves about developer experience and how can we expand that coalition to make it even stronger so that more developers are being successful and so if youre actually interested in joining that conversation weve got a link here that you can join and try and be part of that Coalition or reply to be a part of that coalition we are building a future powered by cryptographic truth and this is really really important to us but when you are a new developer entering the space this can be very very hard this can be difficult what I say is that joining as a blockchain developer is actually harder now than it was two years ago right three two three years ago there wasnt as much Choice there werent as many options there werent as many tools but today I have to make choices over and over and over and it can feel like Im banging my head against a wall but we want to solve this we want to make this better and so one of the exciting things we want to announce is that weve been investing a lot of time and energy with the community on a new site called is really designed to not just answer the how do I build with chain link but why should I become a blockchain developer I talk to a lot of web2 developers who have very interesting things to say about the crypto and blockchain industries but we feel like if we can answer these questions of why are we here why are we in the room right now because everyone here as builders in this ecosystem youre in the right place right weve heard from Sergey weve heard from Kamal about how exciting the future is and how bright the future is but a lot of people dont know about this and so blockchain education is really designed to help us fix some of that so this is a site that weve been working with the community and it really is designed for you to share and help people understand this journey and one of the things that weve done is weve actually mapped out the journey from everything from learning finding developing but then also acknowledging that hey to actually go to production to be successful in this industry you have to manage your smart contracts you have to manage your deployments you have to manage what chains youre on you have to worry about auditing and security and so were trying to be a hub and provide a lot of the resources out there that help you be successful another way that were trying to help developers more and really fix this entry problem for folks is were actually launching a new YouTube channel soon and so Ill share the name here today and then in the coming weeks youll see more about this but were actually launching a chainedev YouTube channel and whats really exciting about this is that its not just more tutorials its not just more documentation but its really solving some of the bigger questions that you have on the ecosystem and trying to keep up right because one of the hardest things for all of us is just keeping up with the rapid pace of innovation and so really trying to go beyond just tutorials although there is going to be code there is going to be lots of live coding repositories you can clone and try out but really answering those bigger questions and really I want to focus on inviting everyone here and everyone online to be a part of this developer community and so we have a really fun event going on tomorrow Thursday its called we call it developer speed running and so its an exhibition of some of the best developers solving problems on the Fly where you can learn from them and see how do they actually think about this problem what tools do they choose what problems do they encounter and how do they resolve how do they respond to those this is an opportunity for us all to learn and if youre at the conference today and you actually want to participate uh go and talk to Andre at the chain link Booth today between 12 and 2. and because hell be talking to developers and trying to find the best people who will be showing off their skill sets tomorrow I also want to invite folks to join the hacker house on Friday so if you want to check out that link as well its going to be a fantastic place and a fantastic time for developers to come together form new teams learn how to be successful so I really do want to focus on making sure that everyone here feels empowered to join us and create the future creating the future together so up next I want to introduce Roy from the lemonade foundation and hes going to be really exemplified this idea of community by talking a little bit about some of the projects weve been working on together [Applause] hi everyone thanks so much for your time so Im Roy from the lemonade Foundation the lemonade Foundation is the non-profit arm of lemonade the insurance company uh and uh our job is to build exponential Tech to solve real world problems and I want to tell you today about our first project its called the lemonade crypto Climate Coalition and its the first web3 organization built from the ground up to help protect subsistence Farmers from climate risk and Ill tell you a bit more about that in a minute but before I do that I want to start with an observation and a prediction and my observation is that were all here because we believe in the power of blockchain to bring about dramatic fundamental maybe historic changes to the way that our society operates together but um I think until now that potential has not been Unleashed and hasnt come to bear on the people that really need it the most the underloved the unbanked the uninsured and my prediction is that insurance is going to be the Bridgehead that allows for that potential to come to bear on the real world and Ill tell you a bit uh about why I think that and I hope by the end of the talk youll youll agree with me um so in the 13 years since the Bitcoin white paper blockchain has come a long long way its done amazing things but I think the question remains has it really influenced the people who need it the most and this is something that weve been thinking about a lot at the lemonade Foundation right how can we use blockchain to affect change in the real world and one of the problems that weve been thinking about a lot is climate change maybe youve heard about it and lemonade is uh also very concerned about climate change were the first insurance company that has Forsworn investing in fossil fuels unfortunately climate change is intensifying and that means that there are more droughts and more floods and those droughts and floods are predominantly affecting the developing world and in the developing world we have 500 million small holder Farms these Farms support 2 billion people thats almost a quarter of the worlds population these people are subsistence Farmers they live off what they grow and that means that for them a drought can be literally life-threatening Unfortunately today smallholder Farmers bear the risk of that on their own right in sub-Saharan Africa for example where I grew up in Kenya um insurance is basically unavailable three percent have access to it but nobody buys it basically and we believe that blockchain has the potential to pool that risk together and if you take blockchain and insurance and data and connect them together you can basically solve the core problem that has inhibited the scale of insurance in the developing world for crop services and that is cost and Ill explain so providing Insurance in the developing world is very very problematic from a cost perspective underwriting is a very costly Endeavor even if you do have an underwriting model an Actuarial model distribution is basically impossible because distribution for traditional companies is done through Brokers and agents and those dont exist in the developing world and even if you did find a way to distribute it claim handling would still be impossible or unshivable because basically the premium that you would be paying or collecting it would be it would cost more to process the claim than to actually pay out the premium so for a traditional insurance company providing this type of insurance in the developing world is impossible thats why the lemonade crypto Climate Coalition has been formed so weve been fortunate to put together a group of companies including chain link from the web 3 space from traditional Insurance like hanovery some of the most important companies in the space that have come together to work to solve this core problem this cost problem and the way that were going to do it is by using a dow instead of a traditional corporate structure by using smart contracts instead of policy documents by using an oracle chain link instead of claim Adjusters and when we build that infrastructure on the blockchain basically you can take something thats unsustainable and make it infinitely scalable because the blockchain can reach Peru or Papua New Guinea as easily as it can reach rural Kenya and on top of all that were also providing this at cost and not as a profit seeking endeavor specifically crop data is a great use case for this and thats because crop data can be objectively measured it can be instantly reported through an oracle-like chain link to the blockchain and it can automatically trigger again using a block chain link it can automatically trigger claims that means we dont need claims adjusters anymore oh and by the way I forgot who the hell trusts their insurance company right so I think one of the interesting things that we can do here one of the opportunities is going from a model thats distrusted to a model thats trustless it doesnt mean the actors dont trust each other it just means that the actors dont have to trust each other because everything is on chain everything is verifiable everyone can just look and see what happened right theres no bureaucracy in the background that you have to trust its verifiably true and just because its on chain it also doesnt mean it has to be complicated so this is empeza in Kenya were going to be using the same exact user interface that farmers in the developing world are used to for banking applications ussd menus just like this one theyre going to be buying Insurance directly from their feature phone the money is going to be parked on chain and then when we trigger a claim through a chain link uh that money is going to go directly back onto their phone so basically from the Farmers perspective nothing needs to change we dont need to do any Market education were super excited about the fact that were going to be launching pilot very soon sometime in this quarter and once we launch that pilot were going to be using next year to scale as I said in the beginning I think if were able to use the potential of blockchain to affect change in the real world and help these people these two billion people who live off what they grow if we can help them these underinsured these unbanked people if we can make their life a bit better thats something that I personally am super excited about were super excited about in the Coalition uh making change on a global scale like this and something thats so important is something that were very passionate about and if you are too I encourage you to drop us a line wed love your involvement as developers investors whatever it is uh thank you very much now its time to build [Applause] thank you Roy I I really love this story it shows how web3 can have this incredible impact on society Okay so weve seen a lot weve seen a lot of great tools weve heard about our awesome community so what now well often something that we hear is that sounds amazing but I dont know where to start first its really important to realize every business every business will have a web 3 strategy just like every business now has an internet strategy a mobile strategy a cloud strategy an AI strategy so whether youre launching a startup or youre running a billion dollar business you need a web 3 strategy and its going to happen progressively businesses didnt you know move all their operations on the internet right away in fact web3 will be a spectrum from just you know selling your data on web3 to putting whole parts of your infrastructure on web3 to starting full web free native but the first step that youre going to take the most important thing youre going to think about the most important thing that needs to be provably fair to your users and youre going to put it on chain for example if youre building a lottery the most important part should be randomness so a great way to get started again is to ask yourself which part of your app needs to be provably fair and start with that and with chain link you can connect it all together and remember your users will demand that your service is probably Fair theyll say prove it now how can you prove it well today were launching badges that you can put on your apps to show that their proof will be fair we want to well we want to build this world together if youre a chain link user go to slash prove it to get the badge and help us spread the word its build time if you see something around you thats not fair fix it make it fair rebuild it the way it should be you know I really think its never been a better time to be a builder I really think well look back in 10 years and realize this was the time of Builders and as a builder web3 is the opportunity of a lifetime and its happening now you know weve Ive seen this personally in messaging Ive seen this in AI Ive seen amazing things happen but we really want to get in at the right time and this is the moment this is the moment where the building blocks are ready the technology is ready but not everyone is seeing the full opportunity so you can help us shape this new world you know its all green field with so much potential so come and let us grab this time together thank you [Applause] A Chainlink Product Keynote at SmartCon 2022. Featuring: Kemal El Moujahid, Chief Product Officer at Chainlink Labs Michael Li, VP of Data, Coinbase Ghando, Head of Product at CF Benchmarks Rafael Cosman, Co-founder, Archblock Stephen Fluin, Head of Developer Relations at Chainlink Labs Roy Confino, Head of Strategy and Operations at Lemonade Foundation 0:11 - Web3 Is a Multi-Trillion Dollar Opportunity To Build a Better World 4:47 - Current Challenges of Web3 6:49 - The Growing Momentum of Chainlink as a Web3 Services Platform 8:19 - Chainlink Data Services 10:19 - Announcement of NFT Floor Pricing Feeds 11:01 - Michael Li Explains NFT Floor Pricing Feeds 17:24 - Announcement of CF Bitcoin Interest Rate Curve CF BIRC 17:53 - Ghando Explains CF BIRC 24:01 - Chainlink Proof of Reserve 25:42 - Rafael Cosman Explains How TUSD Is Using Proof of Reserve 30:10 - Any API 31:12 - DECO 32:14 - Chainlink Off-Chain Computation Services 32:38 - Chainlink VRF 34:05 - Chainlink Automation 36:57 - OCR 2.0 37:41 - Fair Sequencing Services FSS 38:11 - Chainlink Cross-Chain Services 39:22 - Cross-Chain Interoperability Protocol CCIP 40:18 - Chainlink Developer Community Update 44:31 - Announcement of Testnet Coalition 47:06 - Announcement of 48:19 - Announcement of ChainDev YouTube Channel 50:00 - Roy Confino Explains How Lemonade and Chainlink Can Redefine Insurance 59:17 - Every Business Will Have a Web3 Strategy 1:00:58 - Announcement of Secured With Chainlink Badge Program 1:01:28 - Its Build Time! About Chainlink Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains. Learn more about Chainlink: Website: Docs: Twitter: Chainlink Chainlink,