All right, okay. Welcome everyone. We'll get starting in 30 seconds. Igor, if you can please go ahead and turn on the live stream. Igor, please confirm when we're on the live stream. Igor, are you on live stream now? Yeah, yeah, we are live here. Wonderful. Good morning, good afternoon, good evening to everyone attending us today for our Hyperledger Foundation in-depth hour with our Hyperledger member consensus. This is session three of three session educational webinar series that we've done around Hyperledger in Ethereum, which we titled Who Put Peanut Butter in My Jelly? And I'm very excited today to welcome Jana Pal, who's the global co-head of consensus's NFT business unit, and we are looking forward to this session today. So once again, welcome everyone, please say hello via the chat and let us know where you're zooming in from. And we look forward to your participation in this session today. As a reminder to everyone in the community, all are welcomed here in the Hyperledger community. We are committed to creating a safe and welcoming community for all. So please make sure that you're respectful when you have questions and answers, and we look forward to your participation. A couple of housekeeping items that I want to make sure everyone is aware of that if you're watching the webinar or participating in the webinar live today is that all Hyperledger events, webinars, etc. are under our antitrust policy. So please make sure you understand that by participating, you're participating potentially with industry competitors, and it's our intention to conduct all activities in accordance with the applicable antitrust and competition laws. If you have any questions, please feel free to direct message me on the chat. As a reminder, the session is not only being live stream so say hello to the world. We are also recording the session and the session will be available in our webinar library. So if you want to share it with others after the fact, please do so. And if not least, we will also publish the slides that Jana will be using as part of her presentation. And if you have any questions, we'll have a wait for you to reach out. This is an interactive webinar. We will be doing a presentation and then opening up for questions and answers. So a couple of key things for you to get the most out of it. First of all, this is a zoom activity so you can raise your hand. If you raise your hand, you will eventually get unmuted so that you can ask your question of voice function at the appropriate time. You can also use the question and answers tab under the Q&A that you're able to do that and ask your questions. And last but not least, please feel free to add comments or questions in the chat and we'll be monitoring that as well. As a reminder, the Hyperledger Foundation is a collaborative and open source community that we are focused on enterprise blockchain and make up of hundreds of Hyperledger members, as well as thousands and thousands of community members worldwide. So we look forward to the session and for your future engagement with the Hyperledger Foundation.  We now have 18 projects with the last one on the corner there yet to be named the blockchain automation framework was approved by the technical steering committee last week. And you can see the different types of DLTs tools and libraries that we have available on our website that you can use as well. Today's session we will be covering once again, Ethereum ecosystem specifically to NFTs, but we do have an Ethereum client which is Hyperledger Bezu, and I'll talk a little bit at the end, at the end for that. Just a quick question, a quick history, well, why Ethereum and Hyperledger. Many people don't understand the history that we've had with the Ethereum ecosystem. Since 2016, Hyperledger and Ethereum through consensus first as a member of the Hyperledger Foundation, and then through different types of projects for example when borough was admitted to the Hyperledger Foundation with an Ethereum virtual machine that that was adopted through fabric and sawtooth. In 2018, we Hyperledger and the Ethereum Enterprise Alliance joined forces, we joined the EA and they joined us and we've been since then working collaborative with that ecosystem as well from an enterprise Ethereum perspective. We also have been partnering with the Ethereum Foundation. And then in 2019, we Hyperledger Bezu, which was a project that was brought in by consensus, which was called Pegasus was accepted as a DLT project within Hyperledger. So we're very excited about that since 2019 we've been building an open source community around Bezu, and now Bezu is adopted in many use cases around the world so we'll learn a little bit about that today. So once again, today's session is focused on NFTs and Layer 2, and I want to introduce Jana, who is once the global head of Consen- co-head of Consensus NFT View business unit. Jana, pleasure to meet you. I'm going to go ahead and stop sharing. Maybe just start a little introduction and we can get going. And welcome everyone. Thank you so much. Can everyone see my screen? Yes, looks great. Wonderful. I'll go to full screen mode. All right, just by thank you very much, Danielle. Danielle for the introduction. So my name is Jana Powell. I've been at Consensus for three years now in New York, worked on a number of different blockchain initiatives over over the past three years serving Fortune 100 clients on various parts of their blockchain journey all the way from ideation through to product build have most recently worked with the top 10 banks on a securities issuance and life cycle management platform. Also a global alliance of four banks with whom we launched a carbon credits trading platform that deals with the issuance trading and data management of carbon credits. More relevant to this talk, together with palm we just recently launched a really popular NFT project in partnership with them. Hennie and Damian Hearst called the currency, you can read about that at hennie.com it was a super successful project really really wonderful kind of example of our our partnership with palm. And they are partnering also with hyper ledger basu. I've spent the majority of my time at consensus in professional services and also in corporate development. We're working on L two programmatic enablement will be talking a little bit about L twos in this talk, and also on NFT strategy and we're extremely excited at consensus to have just acquired the phenomenal 3M team about a month ago, which I co lead with Tyler Mulvihill by way of background I have some texts and corporate strategy and management consulting, having done a PhD in electrical engineering at MIT and spent five years at McKinsey and company so really excited to be here. I'm excited to be talking about my favorite topic really NFTs. So the goals of today or to touch on a few topics and examination of the market the landscape for NFTs, a deep dive on really the opportunity for NFTs, which is just exploding with the integration of use case use cases and utility for NFTs and also a brief summary of L twos and side chains because that's extraordinarily relevant to NFTs today. So let's just start first and foremost with you know the overall market and the landscape. It's, it's, it's something I just love talking about it's something I love doing. Because they have this transformational power in that when we think back to how we used to collect in the era before the internet, you know we collected all these physical things that were really meaningful to us and we would share them with and family, maybe we would trade them, you know that it brings back that whole notion of collecting brings back, you know, a feeling of nostalgia and NFTs are beginning to represent that now for the next generation of collectors the digitally native generation. So, with NFTs it goes, you know, beyond just redefining the notion of a collectible for a digitally native generation that the powerful vision for NFTs is that we're really building the real world in a digital format, and we're seeing that more and more and more and more and of course that was accelerated by coven and we're just seeing this this increase of acceleration towards that. And NFTs, they're bringing about this new medium that's bridging all of these gaps between traditional and new worlds of physical and the digital mainstream and crypto. And I think the reason for that is that everyone can resonate to collectibles in a certain niche that they really care about. So this is beginning to attract mainstream audiences into the crypto and digital world. And that's how we see it at consensus is NFTs are really the tip of the spear here. They're flexible they're creative they can create this perennial connection between a collector and a creator they can foster new community, and we've seen that over and over and over again with NFTs. And so given that NFTs are bringing this old world into the new world, we want to also ensure that we're environmentally conscious and that's where L2s come into play with layer two technologies Ethereum side chains as well. And they're empowering and enabling green futures, which is critically important to so many clients that we speak with. So they're environmentally and financially sustainable. They have a near zero carbon footprint and also very very inexpensive transaction so that's kind of, you know, the way the world is moving. NFTs have really created this new paradigm for ownership and there's everyone who's gotten down the NFT rabbit hole has some point where that really clicks like I really want to own that piece of art I really want to own that piece of music I want to feel as though I own it. For those, for those that it is clicked for, you know, they're extremely bullish major investors are bullish brands artists and celebrities just continue creating and sales continue to increase and so, while we've seen cycles of NFT popularity and both positive in the negative direction. There's just so many indicators that within the market data that point to continued growth. Needless to say there's a world of opportunity. So the opportunities for these NFT use cases are just limitless. We're seeing opportunities in art and generative art and music and brand engagement gaming fan engagement. And one in particular want to spend a little bit of time on is this popular cult crypto collectibles area where, you know, it's so reflective of our digital era. It represents something like a club or fraternity and one area by really popular crypto NFT collectible projects are the crypto punks. A lot of people on the call probably are familiar with that there are 10,000 uniquely generated characters, no two of them are exactly alike. They can be officially owned by a single person on the Ethereum blockchain and this particular project generated about $1.6 billion in sales, and it's among one of the top ranked NFT projects so far. There are so many others I'll get into a couple of others in the next few pages. But that includes the board APIAT club, cool cats, sub ducks and a lot of these, you know, sort of crypto web three very specifically crypto native collections, but they're crypto native collections that now brands are really excited to, you know, start becoming a part of. So, you know, people use these avatars as their Twitter profile pictures, they use them to feel like part of a club and members of this club, you know, continue to support each other they follow each other. It sort of brings about this feeling of exclusivity. And there's going to be loads of opportunities in the future around attaching avatars to your identity on the blockchain the metaverse. The reason I think this is so powerful is for those of you who might remember how Facebook started it, oh, it was founded in about 2004 and it was open only to Ivy League students and so there was this amazing feeling of exclusivity to it, which made people want access and as soon as it was opened, you know, it became more and more and more popular and so I think there's a similar appeal to these collectibles where people want to get in early and they want to feel a sense of membership. So it's a super interesting kind of niche within all of the NFT offerings. Other use cases include fan engagement and we all know NBA Top Shots is super popular there they've garnered almost a billion dollars in sales for their video NFTs. Digital artwork, the digital artist people secured $69 million at his first Christie's auction and just most recently $29 million with his human one project. There are a lot of other examples. Generative art and music is a really, really interesting area. TRIUM, the company that we just acquired pioneer generative music, as well as smart contract rights and royalties. And they produce unique generative songs which distributes royalties into perpetuity to the original owners. There's brand engagement, multiple brands are exploring opportunities within NFTs to just galvanize loyalty onto their onto their platforms and within their brands. Gaming has been long known to be a great use case for NFTs. There's so many examples of blockchain and gaming in both the web to world, but also in the blockchain world and one in particular is Axie infinity with which I think a lot of people have heard about. It's a blockchain game that allows users to earn income through NFTs and cryptocurrencies. So players breed and they battle and trade NFTs called axes and throughout the pandemic actually a lot of people in the Philippines were able to learn earn and a livable income through through this game. So it's really exploded in popularity. So, in short, there's just so many different opportunities in in the NFT world. Possibilities are really endless. So let me do a double click on just a couple of really interesting examples. The board API club. So this is a deep dive on an example of an avatar profile pick collection. So the board API club is arguably, you know, one of the most popular of these 10,000 avatar collections. And they're, you know, one of 10,000 unique a J pegs that just sits on your metamask wallet doubles as a yacht club membership card to grants access to members only benefits. And there's a bunch of different rarity traits that make one of these things sort of valuable. Like laser beam eyes or golden far or things like that. And what's really interesting though about this project and what a lot of brands are starting to tune into is that they work extremely hard to deliver value to their community. And you can see that in their roadmap which is depicted on the left hand corner bottom corner of the slide. And you know what they've done is or they've promised to deliver is airdrops to sea holders, a mutant serum which created this chemical reaction that you could use with your existing ape to get a mutant and now that's worth seven Ethereum which is like $30,000 or so. They created a treasure hunt with a prize worth 50 ETH. They have exclusive merchandise they have in real real life events like a yacht party and a fast and you know access to exclusive games. There's just so much that you can do and they literally built this community from scratch. So there's a lot to learn about these types of projects when you apply it to a brand or when you apply it to an IP holder that that is leverageable. The next example is art blocks. So this is generative art it's a deep dive on an example and in a project called art blocks. And what is generative art it's basically developed through creative coding. And so essentially the code creates an original digital artwork pieces on the blockchain via an algorithm. And when you mint a piece from a collection, the transaction basically creates this unique character string that interacts with the artist's code and it generates your art piece. This is a collection by Tyler Hobbs and ringers and that minted, I think both of them minted for around $200 and now they're worth hundreds of thousands of dollars. So incredibly interesting artwork. Another example is oiler beats. So this was done by Trium, the company, the phenomenal company that we just acquired into consensus, which I now co-lead with Tyler Mulvihill. What is it? Oiler beats, Genesis and enigma NFTs were algorithmically generated music tracks and artwork. And so it's a collection of 27 audio visual NFTs.  And that consists of one original LP and 120 prints. And the original owners, what's really interesting about this is they have experimented with rights and royalties. So original holders will actually receive 8% of the print price on each price sold of the original token that they own. So really exciting experiment. It was, it was hugely successful. They distributed millions of dollars to the community through this effort. And the next actually not going to play this. The next generation of this is oiler beats feature. And feature is basically the third oiler beats NFT drop. And actually, the public sale goes on tomorrow. So please, for all of you listening, go on oilerbeats.com and check it out. The artwork is just incredible. It's generative artwork, generative music. The shape is inspired by the geometric form of a mobius strip and buyers can purchase mix passes currently during the public sale starting tomorrow. There's 4040 of them and each can be redeemed for two mixed NFTs. And the mix NFTs are randomly generated. It's an NFT collection of musical building blocks. They result in a unique song from potentially millions of possible combinations and these mixes will lend themselves to be remixed and contracts will allow royalties to flow back to the designated creators. So really, really exciting stuff. And this is kind of the concept car release for the new oiler beats initiative, the artist. So please, please check it out at oilerbeats.com. So that's just a couple of double click, you know, deep dives around what's going on in the market. The market which is now a $10 billion market. And I just think it's incredible that it is a $10 billion market now when just a few months ago this was a $3 billion market. The momentum is intense. It shows no signs of stopping and looking at the data down below in the left hand corner of the page you can actually see that there are various niches that show strong momentum depending on whatever the season is of of preference. So for example, you can see that volumes of sports, we're kind of dominating in the first wave of NFT popularity and then during the second wave collectibles and gaming, we're dominating. Collectible avatars like the Crypto punks and also games like Axie Infinity. So how does the market data breakdown. The NFT market is basically distributed across four areas. If we look at data over time it's it's really distributed across collectibles, art, sports, and gaming, and those are, you know, the predominant areas and obviously you can, you know, double click and see what's actually driving each of them. That's essentially the four markets that are driving, driving the overall growth and as I mentioned there's seasons to it. There are certain times when art is much more popular than games or collectibles are more popular than art. So something to keep in mind is there are good ways to execute an NFT project and bad ways to execute an NFT market so, you know, within this $10 billion market you can either, you know, come across as a flash in the pan or a revenue grab or, you know, you can choose to make something very, very meaningful for your community. So an NFT launch should absolutely not be seen as a revenue grab it should be seen it should not be seen as an easy way to exploit your fans or, you know, your your collectors or people who are loyal to your brand. So certainly if you're, you know, celebrity or a brand or an athlete, you should resist the urge to just, you know, launch an NFT with an extremely expensive price tag, just because you want to make quick revenue because you'll be left with resent resentful community, you know, who will feel as though they've overpaid. So instead really, you know, you should think about it like this NFTs are a new format of collectible for really engaging immersive experiences and they can enable meaningful and lasting connections between brands and customers, artists and fans. And they can generate perennial value for their holders and value and content are essentially one in the same. And they can also empower never ending story so there's a lot of keys that can be unlocked around brand engagement. And so I'll just talk a little bit about what a lackluster project could be versus what a strong project could be so this is an example. I'll just describe just an example of kind of a lackluster project where the cosmetics company sold three NFTs from their best selling products. And they wanted to kind of delight their community in disruptive ways and they sold their NFTs at the same level of their retail counterparts and the goal was that the brand would just accentuate its image by being accessible and inclusive but also appealing to the next generation of buyers. But you know what they didn't do was they didn't provide any kind of utility or purpose behind the NFTs they didn't attach them to a feeling of exclusivity or experiences and they didn't create a meaningful experience that was unique or meaningful for the consumers so it's sort of fell flat. And by contrast, a successful NFT example is this one with partners Del Artois on the James Beard Foundation and Christie's and it really amplified the human experience so and the connection also between the holder and the creator. So, in this example, it was an auction of an NFT to benefit the restaurant industry that was affected by the pandemic. So the NFT was tied to the chef Marcus Samuelson's chicken recipe, and the package included an art piece of his dish the digital recipe the video of him, revealing all of his tips and tricks and rituals and also a private dinner for two prepared by him. Right so this NFT project, you know, brought about all of the bells and whistles, provided a purpose for the community donating to a charitable cause, provided utility and experience, a unique experience that customers would value. And so all of these elements yielded meaning for the purchaser. And another example of a great NFT project was the Damien Hurst, the currency project this was executed by consensus in partnership with palm and honey. We all collaborated on this together, and honey led the effort and essentially it was 10,000 original works of art on paper five years in the making. And it was an experiment in art as currency and essentially it forced the user to choose between the digital and the physical world so if the user chooses to keep their digital NFT, their physical art that is attached to that NFT will be burned next year. By contrast, if they choose to keep the physical then their NFT will be burned so this is these are really interesting experience experiments that you can do to assess how people actually value NFTs. So this one, you know, was very successful was built on the palm blockchain network. And that is supported by hyper hyper ledger basu was environmentally and fiscally sustainable near 0% carbon footprint. And it was extraordinarily successful really really interesting and engaging project. You know what is a vision for moving toward utility and you know this virtuous cycle of engagement we see this expansive opportunity for athletes for content creators and brands to leverage the technology in order to move toward a virtuous cycle of loyalty and customer engagement, exciting and attracting customers through new experiences, immersing customers in a community of people who share the same interest and engaging customers. These are the benefits that reward their, their engagement and participation and ultimately growing the fan base by evangelizing loyal fans. So we see this as having the potential to be one big huge flywheel of acceleration for user engagement and user acquisition with the support of mechanism for existing loyalty programs and fan engagement. So what, what can you do, you can make this into, you know, a roadmap. And so this is just meant to be a super high level roadmap where you think through, you know, different aspects of a project. You might want to have a narrative and a purpose around creating a delightful experience for your fans and if we were to just take an example of fan engagement of VIP sports NFT could be creative, created where you are just starting with exciting opportunities. You have an NFT with unlockable rewards and a chance to win maybe a golden ticket opportunity to meet with the athletes. 50% of the proceeds could go to a charitable cause. Users could hold the NFT for future rewards or inclusion and admission to future games, and you would then immerse the fans in a community experience by creating meaningful moments for them through maybe the release of 10,000 events and ownership of the avatar would then lead to multiple fan community opportunities. And from there, you can really engage and evangelize your fans by encouraging them to engage with social media hashtags current avatar holders who engage with social media could receive new NFT drops and so on. And they could have, you know, sort of a direct connection with the athlete through direct emails and things like that. And then from there, you can grow and galvanize your user base current NFT holders would recruit new members to the fan community via social media campaigns and so on. So all of these things are, you know, obviously expandable.  So, and if these are these digital assets with so many different angles of flexibility for all kinds of use cases, I'll just talk a little bit about a few and deep dive on on on a few to to just really drive home the point around fan engagement and around the ways that you can creatively use NFTs to, you know, increase increase revenues and increase your brand and fan engagement. So there are opportunities to create these fan tunnels or wormholes between an artist and a fan. Generative music and art, which is really algorithmic and it's unique in art music design opportunities in gaming, boundless opportunities in the future metaverse opportunities for artwork that's interactive where the holder is actually the holder can be a holder of a Genesis NFT that can control the look and feel of NFT prints. There's opportunities to directly code royalty distributions into a smart contract, and opportunities for new kind of decentralized governance a Dow decentralized autonomous organization and that's that actually builds community enables voting allocation of shares creation and distribution of NFTs and finally there's opportunities in defy and fractional ownership. So when we talk about this $10 billion NFT market we're not even really talking about the opportunity beyond that in defy in defy. So fan tunnels, I'll just I'll just deep dive on just a couple of these examples so with an NFT you can basically build this wormhole tunnel to fans where NFTs have this perennial channel for a fan connection and what what would be the world of the world to imagine a celebrity releases an NFT to attendees to our concert and fans scan a QR code at the concert they might receive some kind of a, you know version one or inaugural NFT in their wallet with access to digital collectibles, and as a special celebrity dedicates a new never before heard song and pledges to share those royalties through the NFT that she's just granted. Right so this is already starting to happen it's really really exciting to see that you can actually do this all through smart contracts. Another one is generative art and music and royalty distribution so we talked about oiler beats I won't go too much into it but you know imagine music that's a mathematical on and like it's mathematical art and it's on an NFT substrate. That is oiler beats so it's a it's a limited edition set of algorithmically generated art and music based on this mathematician oiler number and Oilers Toshin function. And essentially there's their very scarce NFTs captive 27 and the original Genesis NFTs just birthed a new art and beat based on based on this oiler Toshin function and the interesting thing is nobody knows the look and sound of the token until it's minted. So, super exciting stuff that you can do in the world of generative art and music. There's also interactive NFTs with royalty distribution so with interactive NFTs, one person can potentially transform the way an entire NFT collection is experienced by the holders so a creative creator could potentially build a custom AR outfit for digital avatars to Genesis NFT, which could be owned by one fan who pays a premium price for that NFT would periodically for example update that outfit for all NFT holders. And all of those NFT holders can potentially, you know, purchase them trade them on the secondary market or whatnot, and royalty distribution can then be coded directly into the Genesis NFT smart contract to ensure that the holder of that original NFT gets a percentage of each credentials and identity. With tokenized credentials and identity you can circumvent having to have a login, you would log in directly into your web portal through your digital wallet and what is the world of the possible here. A doctor could update medical credentials by scanning her digital board exam results in her digital wallet, which can then be, you know, updated via central systems. If you want to obfuscate the actual results you can use DK proofs. So, you know only systems with permissions to view and validate the scores would have access to that data. And finally the metaverse. What is the metaverse, everyone talks about the metaverse and there's so many really interesting things going on in the metaverse. So the Euler beats project leveraged metaverse with their wearables where people actually could go into the Euler beats club. Put on an Euler beats wearable headset, and with that wearable headset, it was a token gated community they could actually go in push a button, as long as they were wearing that virtual headset. They could actually see the roadmap for Euler beats so there's a lot of really interesting things brands can do. And IP owners can do as well within the metaverse and what is the metaverse so the metaverse is this persistent bridge between physical and digital worlds. It's unprecedented scale interactivity and ideally interoperability so it's going to be really really important for NFTs and applications that are built on on web three, in order to operate in an interoperable world. So, I'll talk just a little bit about defy and then I want to get into L twos and, and in the interest of time I'll try to keep this a little bit quicker. We've spent time talking about NFTs and their applications of as digital collectibles for fan and brand engagement, but you know, defy is a pretty expansive world. It is intriguing is massively fertile. There's so much innovation going on, you know, where we take familiar concepts of centralized finance and reprogram them we redesign them and we combine them into these interoperable projects that are much more innovative and rewarding for users. And some of the most interesting projects and defy are decentralized exchanges or dexes for short where you can trade your assets or protocol that removes third party intermediaries and exchange rules that are programmed into a smart contract. There's also decentralized lending where you can lend or borrow at rates that are attractive to you, based on your capital goals. So defy has just grown explosively over the last two years we've seen a 30 X user growth since January of 2020, with over 80 billion users now in defy apps from just 100,000 users in January 2020, and over 10 times growth in locked collateral with 82 billion asset in assets locked versus a billion in January 2020 so it's huge. And the market is certainly growing every day in defy. And there are analogous decentralized protocols for every centralized financial instrument right so we encounter financial instruments and banking capital markets and so on. So for every financial industry instrument and product, it's currently being recreated on a programmable chain and so that's that's super super exciting to see. And so how do defy and NFTs intersect. Financial NFTs actually include tokenized real world assets insurance bonds unique baskets of tokens. And they can potentially become the largest single use of NFT technology thus far so we have fractionalization where multiple platforms are now allows users to fractionalize their NFTs into shares. We also have collateralization and lending where multiple platforms are now allowing users to collateralize their NFTs and borrow against them. We have insurance contracts used as NFTs so yearn dot finance insurance contracts are underwritten by a nexus mutual they're being sold on wearable liquidity pools are being offered as NFTs so uniswap version three issued LP tokens which are claims on tokens that are supplied by market makers. Carbon credits can be used as NFTs so a lot of platforms are launching these carbon credits now, which investors can use to finance sustainability projects. And also there's yield farming. So a lot of defy gaming platforms are actually leveraging NFT gamification with yield farming so really really interesting. This is you know above and beyond all of the different use cases that we just talked about within defy. And so now I'll flip over to L2 so we talked about NFTs we talked about defy obviously interoperability is a hugely important topic. Highly relevant for NFTs and interoperability and we know that all roads still lead to Ethereum I think or at least most people believe that all all roads still lead to Ethereum so it's by far the most relevant blockchain in the world for NFTs for developers for decentralized finance and beyond. It makes up 90% or more of the total NFT sales right now has over 300,000 developers. More than any other developer community globally. It settles 12 times more than PayPal does on a daily basis and it's really where most of the liquidity is it's where the developer activity is it's the center of gravity for the whole decentralized system right, but obviously we know scalability is an issue user experience is lacking we have spiking gas prices. That's impacting the user experience we have block latency, you know, we're pushing gas costs to users which obviously impacts their user experience. So, off chain scaling or L twos or side chains is really capable of solving a lot of these problems. They provide higher throughput faster state advancement and also gas cost abstraction. And, you know, so it alleviates these scalability issues the state advancement can be 10 to 100 times faster than that of an L one transactions cost and their support for native gas cost abstractions meta meta transactions and also account abstraction. And so what is the spectrum really of off chain solutions. And first, you know, we look at L twos L ones inside chains but there's also this you know elephant in the room which is the centralized custodial systems right. That's finance coin based block fire really any other centralized system and they can provide faster transactions cheaper, cheaper transactions as long as we trust the party handling the data. We're happy, right. But, you know, that's not necessarily the case because you know while trusting the institution gives us many many nice things in return it's not necessarily the future we're building and decentralized finance. Certainly not the reason the overarching reason that blockchain was created since we're moving toward a more decentralized and trustless society so the other options that we have in the world of off chain solutions include other L ones L twos and side chains. So I'll just briefly talk about about each of them so side chains the first type of Ethereum scaling solution that hit the market was a side chain, and these are like sovereign layer one chains they have the ability to batch transactions back to the main chain. They're called to do it. But they come with pros and cons so the drawback of a side chain is they rely on their own consensus mechanism. And while you have an even even compatible chain that has the all the ability to batch transactions back to the secure for security purposes to the main chain, while things are living on the side chain they operate with their own rule sets. And therefore they're not as protected by Ethereum and thus they can introduce, you know, potential attack but the positives of a side chain is that all you have to do to access them is deposit and withdraw. So you can off load, you know limitless transactions from the main chain by removing, removing them from the main chain to the side chain. And so you can off load swaths and swaths of transactions but the con is that it's a new blockchain, it's less censorship resistant, less decentralized more of a walled garden and harder for users to control their destiny. Now that's obviously addressable through bridges palm side chain has a great bridge. Also, a very successful side chain ismatic now polygon and they have huge ambitions to become an L2 as well. So let's talk about layer twos. So layer twos. When we talk about layer twos early roll ups, they're considered kind of the best practice for scaling in the foreseeable short term, at least according to Vitalik Buterin so I'll take his word for that.  They fit them into a single block. What makes them so promising is they don't sacrifice the security of Ethereum, but they allow things to be fast and cheap. So, these solutions move these transactions and computations off chain store transactions data to the Ethereum layer one, and they come in two flavors. One is optimistic roll ups and one is ek roll ups. So the method of verification is, you know, the key distinction between the two types of roll ups so I won't talk too much about about them other than the optimistic roll ups are basically assumed that all transactions are valid and they submit the batches without performing any computation whatsoever. And that, you know, can lead to improvements of scalability but on the downside the need to have a challenge period can actually create some delays. So some examples of optimistic roll ups are arbitrum and optimism. ZK roll ups, whereas, you know, optimistic roll ups, assume that everyone acts in good faith ZK roll ups, seek to ensure that that's actually the case. They generate these cryptographic proofs that can use to prove the validity proof for every single bundle. And they're submitted to layer one to serve proxy for their corresponding bundles. So that's, that's layer two and of course, so some examples of layer two are ZK sync matter labs loop ring stark x developed by stark where and Hermes which is now merging with polygon. This is an example of side chains L2s and L1s in the ecosystem. So at consensus we actually partner with all EVM compatible side chains and L2s to that we believe our future winners, helping to accelerate their success and of course other L1s as they become relevant. We have extensive ongoing partnerships with many of the prominent L1s and L2s and side chains and given the nation nature of this market we, you know, cast a wide but very thoughtful net to hopefully enable the future winners of the ecosystem. And I'm going to talk a little bit about our work with palm. So we have a very, very close partnership with palm and extensive partnership with palm and EVM compatible side chain. Built with hyperledger basu and we extensively partnered with them to help them build the network launched the token, the bridge and consensus products and services are also used heavily with palm including diligence reviews of smart contracts, metamask works directly with palm infura provides the API endpoints and codify activate activate another product of ours was used for voting and governance. And we also support them with customer success and marketing so really wonderful partnership that we have with palm. And now let me just very briefly talk a little bit about what we do and then we can open for questions because I know a little short on time. We have a consensus. We create essentially the soup to nuts experience for NFTs. We can partner with you along every aspect of your NFT journey from NFT creation and design all the way through the secondary sales. So we have tools and we have a white label platform to help you with NFT minting NFT listing pricing sales either in fiat or crypto distribution and more and more and much, much more. We've already got a pretty robust track record of success in NFTs, including partnerships with Trium, which we just acquired our partnership with palm as well. And also the build of the aura blockchain platform that's used by more than 10 luxury brands. And that's not to say, you know, we have a lot of other partnerships that were currently under NDA with that we are not at Liberty to mention but really really exciting underway. And a little bit about consensus for anyone who's not familiar with us consensus is founded by the Ethereum co founder Joe Lubin. If you're operating in blockchain as especially in theory and Ethereum, the chances are that you're working with one of the consensus products are super high. Actually, there's a typo on this slide MetaMask monthly active users are well over 10 million now. We have a quorum and hyper ledger base who we have consensus codify we have in Fira consensus diligence and many, many more products and we're backed by JP Morgan Mastercard and UBS. And so we're not, you know, we're not only NFT players we have expertise up and down the entire stack. And also a proven record track record of world class delivery having delivered on massive consortium projects like Comgo and covantus extensive professional services capability and a large roster of many, many clients. And finally, you know, we believe we're a very strong partner in the NFT space where the largest pure play blockchain company in the world have a strong track record of NFT projects a robust NFT platform white label platform for clients that enables you to define your collection mint cell auction and trade, and also strong client references. So let me, let me just close here. We're closing thoughts around NFTs and L2s. So we're, you know, really rebuilding our world in this digital format and NFTs are just emerging at the tip of the sphere in this movement to potentially attract billions and billions and billions worldwide into Web three. And we're bridging a lot of gaps between these traditional new worlds. There's ways to execute these launches well but also ways to execute poorly. And L2s as we talked about their, you know, moving toward a much more efficient cheap and faster user experience for transacting with NFTs. And really whoever is able to master the art of the connection between NFTs and content access unique experiences and so on is much more likely to emerge as a winner. So with that. Thank you so much for listening. Really appreciate it. I'll go ahead and stop my share and open up for questions. That's great. Thank you for taking that was a very comprehensive overview of the NFT market and how consensus is playing so thank you so much. We probably have time for one or two questions. If you have a question, please submit it via the Q&A raise your hands and we can go ahead and allow you to do a voice question. If you have one as well. And I see there's one in the Q&A, but John, I wanted to ask you a question you work with many, many big brands. And one of the things that when brand, you know, big brand companies come to us talking about blockchain specifically is the environmental concerns that they may have.  Can you talk to us a little bit more about why side chains and layer two, and those approaches are more environmentally safe than than others. Yeah, absolutely. I mean, so, you know, we know that the gas costs it's not it's not only a cost issue it's an energy consumption issue that is really high and using using layer one like Ethereum right so side chains and other L2s actually use about 99.9% less energy than that of layer one. So, you know, that's why we would absolutely recommend launching NFT projects on layer twos and side chains. They have essentially a near zero carbon footprint, as it stands right now. Great. All right, any other questions please go ahead and submit them. There is a question from Lee Moranos. And I know that certainly consensus is hiring quite a bit so they'd like to know how to go about if they're interested in a job with consensus. Oh, absolutely. Well, feel, feel free to reach out to me directly and I'll get you to the right people we have a phenomenal recruiting team. We also have I think careers at consensus or jobs at consensus you could probably just Google it and find exactly the right page. We have many many job openings we're always hiring. Oh yes, thank you Clemens consensus.net open roles yes please go to the link that Clemens Clemens just linked down down in the chat. We're, we're always looking for great talent. Hello. Can you hear me. All right, I lost you all for a second there. Excellent. So let's see is there another question. So that one was answered. All right, if there are no more questions. There doesn't seem to be any questions all right quite a bunch today. We will go ahead is there anything else you'd like to add. To today's session. Now I don't think so just thank you so much for the time really appreciate it. It's always a lot of fun talking about NFTs. Excellent. Well I went ahead and also shared on the page some some the hyperledger job board, many of the companies the hyperledger member companies that are part of our community hiring including consensus so please do check that as well. Let's see if there's a. All right. Well, welcome so thank you again, Donna for this overview. As we mentioned before it is recorded so be available for those who want to take another look at it. This is part of our hyperledger foundation member webinar series. And this was the third session so it's a nice way to end with NFTs and layer two solutions, which are certainly not only bringing a lot of new companies who are interested in blockchain in the enterprise into the ecosystem. But what I think is really important is bringing a creative element to blockchain development and to blockchain communities which I think is going to be so important as we continue to to grow and mature in the ecosystem so thanks again for your time. And just as a reminder hyperledger Bay Zoo is one of the projects and project communities here at the hyperledger foundation so I encourage you to take a look and see how you can get involved we do have a free online self paced course that you can take around hyperledger Bay Zoo essentials. And you can actually at the end of that have a prior permission blockchain network using hyperledger Bay Zoo, lots of great documentations on our wiki and lots of webinars as well specific to hyperledger Bay Zoo that are available in our YouTube library and the tutorial session. So, once again this is weekly bi weekly webinar series that we have, we also have some upcoming project workshops that we're very excited to offer for our community in January around hyperledger areas and hyperledger indie two of our digital identity projects so please do keep an eye for that we'll be announcing those workshops in the next few weeks for our community to learn more about those projects and get involved. We also have upcoming in our depths in with tomorrow we have one with a fireside chat with the Wharton executive education program will have Kathy Barra, who is the founding economist at prison group as well as Emilio Bernini at post on post Italian and James Edwards We will be talking about the case studies that are now part of that economics of blockchain and digital assets executive course that the Wharton program just launched. And then on December 1 will have a hyperledger member webinar for Splunk on hyperledger fabric monitoring and Christopher Cody will be doing that presentation so please do register via our events page and we'll be happy to see you there. We've got a great sessions available from June from our global forum, including a keynote with Vitalik Bruderan. If you want to check that out that is available via our YouTube library and lots of great talks around different use cases of hyperledger technology as well. We are an open source community so please get involved. Please visit our hyperledger resources. As you see here you can take a screenshot and the QR code will get you to our website. And we look forward to seeing you in many other activities. So once again thank you for watching. Please do visit our YouTube channel and there you can see other webinars other meetup films, and other types of activities that we are offering to our community. So once again, John, thank you so much for your time. If anybody wants to get in touch with you how do you go about doing that. Feel free to just email me at john dot Powell consensus dot net. Awesome. Great. Alright, well thank you and thank you all for attending and we look forward to seeing you in the next webinar. Thank you so much. Thank you. Thank you.


picture. An official report produced for the armed forces and the American people. Now to show you part of the big picture, here is Sergeant Stuart Queen. Recently at Fort Benning, Georgia, the Army presented a dramatic showing of its latest and best in weapons and equipment. Today's big picture will show you what leaders of industry, government, and the military saw during this three day demonstration called Project MAN. The code name MAN has a double significance. The initials M-A-N stand for modern army needs. The type of weapons and equipment your army is developing and must have to be prepared for combat and to preserve the peace. But those initials also spell out MAN and the quality of any army however well-equipped depends ultimately on the quality of the individual men who fill its ranks. In the next few minutes you will see in action many of the latest army weapons, vehicles, and techniques. A dramatic showcase of today's army capabilities and tomorrow's possibilities. Project MAN. Today, top leaders of the military establishment arrive by air. Among them General Lyman L. Lemnitzer, Army Chief of Staff, and General Omar Bradley. A busy three days awaits the visiting dignitaries as the tight schedule of Project MAN gets underway. Early on the agenda is a dramatic demonstration of firepower and airmobile assault. On hand is the Chief Executive who receives a warm ovation along with Secretary of the Army Wilbur M. Brucker and Defense Secretary Thomas Gates. The stands are filled to capacity with military observers, newsmen, and civilian guests. An impressive array of the army's most modern firepower stands ready for the signal to go into action. Later you will see many of these weapons at closer range but for now let's watch them in action. Is a full-scale airmobile assault maneuver which begins with the arrival of light copters which spearhead the attack. Presenting a moving target, the little choppers alternately rise up and duck down as they deliver fire on simulated enemy positions. Many are equipped with machine guns, some with rockets. The second phase of the airmobile attack is opened as larger assault copters move up to add their heavier rocket fire fit with assault troops. Troops which arrive at the battle area fresh and ready thanks to the helicopters. The port is also brought up by copter lift. He's massive H-37 copter unloads additional firepower support in the form of Jeep mounted 106 millimeter recoilless rifles. The attack moves swiftly. The assault force pressing the advantage of its sudden arrival. Armored support moves up to reinforce the advance. Iroquois turbine powered copter handles the job of evacuating simulated casualties. Meanwhile such air transportable and hard-hitting weapons as the 106 recoilless rifle make the infantry's job easier. The same is true of the Army's new guided anti-tank missile the SS-10. Small, highly mobile and rugged it is sudden death to enemy armor. Demonstrated in action from a low-flying copter. Now for the first time a whirly bird in flight is capable of destroying a tank. It was to a successful close but the action is far from over. Comes a night assault demonstration very aptly called the mad minute. The demonstration and easier on the eardrums comes with the presentation of the Army's latest and best combat equipment. This missile arsenal comes in for much of the attention here. This is the corporal medium-range ballistic missile. The now familiar Nike Hercules which guards the sky above many of our cities and the high firepower Hawk ground-to-air missile on its triple launcher. The pinpoint accurate Pershing missile gets a thorough examination along with its TEL transporter erector launcher. Now in the research and development stage the Pershing is slated to replace the Redstone as a general support missile for the field army. Both ground and air transportable it can operate on the principle which missile men call S and S shoot and scoot. Traditional weapons like the familiar Howitzer take on a new importance since they can now deliver a nuclear warhead. The little John provides a highly mobile field weapon while its big brother the honest John continues for the present as a reliable ground-to-ground ballistic weapon of nuclear capability. Something new is the tiny red eye ground-to-air missile which can make the individual foot soldier a walking anti-aircraft missile base. The Army's main battle tank of the present the M48 Patton is joined by the tank of the future the M60 which uses aluminum to cut its weight by three and a half tons. The task of clearing roads of enemy mines will move much faster with a high capacity Jeep mounted mine detector unit. Murdass said is this adaptation of the World War II Hedgerow Buster and the self-propelled scissors bridge will enable our biggest tanks to cross gullies and defiles without delay. Highly experimental but working perfectly is this remote controlled bulldozer which goes eerily about its work with no human operator on board. The familiar Jeep has a couple of big brothers as the Army's truck family continues to grow and improve. Not glamorous perhaps but vitally important to the modern Army are its trucks. Here the standard six by six delivers the smallest transport vehicle the mechanical mule. The mule weighs only 900 pounds but can carry a thousand pounds of cargo over terrain that would stop another vehicle in its tracks. I have this little dynamo can wade creaks negotiate forest tracks in fact go just about anywhere the foot soldier goes. It's unusual four wheel steering feature gives it a very short turning radius and if the driver needs to keep his head down the hinge steering gear swings over and the mule provides cover as the driver continues the advance. Like the many other truck types used by the Army the mule is designed to do a specific job and do it well. The amazing overland train up front is the control cab just behind that air conditioned living quarters for the crew. Each of the trailers will carry a hundred and fifty tons. A train of ten trailers will carry an even three million pounds. The mammoth transporter is equally at home over field terrain or ice cap desert sands or arctic snows. Each of the ten foot wheels is driven by its own electric motor and the possibility of converting to atomic power is now being explored. Construction area a showing of the Army's potential in the air gets underway. The illustrating its fantastic lift an H-37 helicopter hovers in to deliver two jeeps and Jeep trailers all in a single cargo sling. The new Vertal copter demonstrates its quick loading ramp by unloading a mule mounted recoilless rifle ready for action. IAC one caribou gives a remarkable demonstration of short field landing on an open field dead stop within a hundred and seventy five yards and even with a full load the caribou can lift off with a run of just over a hundred and eighty yards. Phase of the Army air demonstration involves a showing of specialized airdrop capabilities. Troops are dropped from copters from light transport aircraft a large-scale drop from the versatile and rugged caribou. Without duplicating facilities of the Air Force the Army maintains that a flexible air transport capability within its own ranks is a tactical necessity in fast moving local operations. Now the spectators having seen these new devices in action from a distance move out to get a closer look. At the display area visitors find the Nike Zeus and Booster, the Sargent, the Corporal, the new Davy Crockett nuclear weapon, the De Havilland Caribou. The much talked about air car is a popular item and one which you will see in operation a little later. The Army's new M-14 rifle replacement for the M-1 captures the interest of General William C. Westmoreland, superintendent of the Military Academy. The M-14 can be fired semi-automatically like its predecessor the M-1. It can be converted by the flip of a lever to a fully automatic weapon. On the items on display at the signal core area the various types of radio controlled drone aircraft come into the spotlight. In addition to the standard prop driven model there is the new SD-5 jet drone capable of flying extended high altitude reconnaissance missions. For a demonstration of radio controlled reconnaissance an SD-1 surveillance drone is cranked up for the takeoff. Once the engine is running the remote controller is in charge. Presenting a very small fast moving target to enemy gunners the surveillance drone can zoom over enemy held territory taking detailed motion pictures as directed by radio from home base. Within minutes it can return to friendly territory for recovery by the radio released parachute built into the fuselage. High speed pickup and processing of the film exposed on reconnaissance flights makes it possible for a field commander to get photos of enemy positions within a matter of minutes after the drone is launched. Still another demonstration area draws a large crowd eager to get a look at the Army's latest water crossing techniques. Screening for water assault is provided by a fast moving smoke generator boat. Under cover of the smoke low silhouette amphibians slip across the water and onto the beach. In the proceedings an H34 copter drops parts for a footbridge on the opposite shore. Before the demonstration ends the bridge will be completed. Meantime assault teams demonstrate the various types of assault craft available to field troops for inland water crossings. They vary from inflatable rubber boats which carry a dozen men to light plastic shells capable of transporting a squad to small four or five man boats. These assault craft have one thing in common they are light and easy to handle and it's the building of the floating footbridge as well underway. The sections fasten together without complex tools and assembly is rapid. A group of the Army's armored amphibious personnel carriers demonstrate their ability to give both protection and transportation to the foot soldier making an inland water crossing. Something really new in amphibians is the Lark 5 which uses aluminum to cut its weight and add to its maneuverability speed and safety afloat. A larger version the twin engine Lark 15 is also demonstrated. Like the Lark 5 it can make 10 miles per hour in the water and upwards of 30 miles per hour on land. Like the smaller version it has a full width on loading ramp in front so that vehicles like this M 56 90 millimeter self-propelled anti-tank gun can roll directly into action. The more familiar amphibious vehicle is the Duck but not so well known as the new rolling liquid transporter which is towed behind. Each unit can carry a thousand gallons of fuel five hundred gallons in each of the oversized wheels with fuel line connections in place. A vehicle towing one of these units can increase its range by hundreds of miles. Improved ferrying techniques are shown as heavy vehicles are moved quickly across the water and each ferry is also a section of heavy-duty bridge and can be used as such when it has unloaded its cargo on the shore. The floating footbridge is nearing completion as the river crossing demonstration goes into its final phases. Copter delivery techniques are many and varied. What's the easiest way to deliver a pontoon to shore? Set it on the water and blow it in simple practical. Also proving its practicality is the single file footbridge now being completed and even as the final anchor stakes are being driven in the men begin moving across it. With the completion of the footbridge construction the spotlight turns to an item which everyone has been waiting to see. A much talked about air car is to be put through its paces over water on a cushion of air and guided by jets of air which are channeled through vents at the sides. The air car skims a few inches above any level surface. Here it is water but it could as well be snow ice or open ground. The air car is highly experimental as far as the army is concerned but it may well offer some interesting possibilities for future military use. One of the most popular demonstrations of the entire three days comes when instructors from Fort Benning's feigned ranger course show some of the abilities required of these crack fighting troops. Ranger training emphasizes individual combat techniques and these instructors are experts. Demonstration is realistic sometimes almost too realistic. Ranger training may require its men to negotiate any type of terrain day or night with or without rest, food, water. To do this the ranger must have a good working command of practical rope techniques. To teach them it's all in the student ranger has to develop perfect confidence in his ability to tackle any obstacle that gets in his way. He gets that confidence by negotiating such courses as this. Often at the end of a three-day combat problem during which he has slept little if at all. Sounds impossible perhaps but hundreds of student rangers do it every year. The end product of this hard demanding training is a superbly trained fighting man with a new respect for his capacity for endurance and the ability to carry this training back to his unit when he graduates from the ranger course. Limit object to provide a nucleus of these men in every combat unit of the modern American army to make still better the quality of the best. Two banks field of fitting climax to project man gets underway as Army Secretary Brucker arrives to play the central role in an especially appropriate unveiling and dedication ceremony. We've come together to dedicate and unveil a statue to the greatest military asset the United States has, the individual combat soldier. Nothing can excel the spirit of dedication and devotion that this man himself personifies. It's the individual soldier that we've come to honor and to respect. And now on behalf of the United States Army die for freedom. You will find me. I am always ready now and forever. I'm the infantry queen of battles. Follow me. That plaque will be an inspiration and a beckoning generations to come. A young man willing to breast whatever may come for their great country. A modern army needs new weapons, devices, vehicles. The United States Army needs them. But what we heard at the beginning is still true. The quality of any army, however well equipped depends on the quality of the individual man who fill its ranks. Picture is an official report for the armed forces and the American people. Produced by the Army Pictorial Center, presented by the Department of the Army in cooperation with this