 DAOs are one of the most fascinating innovations of the three and there are two elements to it, the decentralized element and the autonomous element. Organization of course is something we already know, a DAO is essentially run on a blockchain as an organization where people come together and interact with each other through the rules laid out by the smart contract. So there is a scope for decision making beyond that, but within the confines you can choose to agree to work whichever way you want. Simplest implementation is say a VC fund. People put money into the smart contract on a blockchain which is not a person, which is not even a legal entity. It's a lot for it's some new company says I've got this cool new satellite imagery technology and I want to get funded from this DAO fund, that would be a proposal which then the owners of that fund will own directly work on. So you know it's very flexible, very flat in terms of hierarchy and very user control. Private key public key pairing is at the heart of what makes cryptography work and in turn what makes blockchain work. Let's say I need to pay you 1 lakh rupees. So I send you a check of 1 lakh rupees, you present it to the bank, that presents it to my bank. My bank verifies my signature on the check. Cryptography what you do is replace all of this with a private key to sign some data. In cryptography the public key is visible to everyone by definition. Private key is visible only to the signer. The check for example has things like who am I paying, how much am I paying, what's the date on which it's written. It's a unique string. It can be created only by this combination. So this means different things to different people. So I'm interpreting it in the third parlance. Value chain till recently meant things like for a business, any business which could be a manufacturing business, what sort of elements is it adding value in to a given raw material to make it no finished product. In the third world it is a different interpretation of the same term. What it essentially means is how do you transfer value without central counterparts. What I mean by that is when you need to transfer a stock for example, you need to work MSDF, property you need to go to the government and say I want to sell my property. Same with money, work with banks. The Web 3 value chain operates without the need for any central party like this. It changes hands in a trustless manner without a central organizing party. So I not only order my food online and without necessarily having to rely on a central party, I also pay using a decentralized currency. It's almost like handing over cash but through the phone or through the internet. Converting something into a finite hash of undefined input. The input can be simple text, it can be like hello world or it can be like a 5 megabyte document representing my passport either way. So one of the ways to convert all of this into a string of uniform length is called the process of hashing it. Public key cryptography is a step forward in that. It is essentially as I mentioned earlier in the private key context, the public key is the public counterpart of that.