 for what it's worth. Anyway usually we have at least 20 people on the call but looks like we're just us three. So Rebecca, tell me you know you still want to go ahead with the call. After you I mean what we what usually you would do in such situations I'm okay with saving the presentation as PDF for you to upload it to the group's web page. But we are we are recording so we can you know if you make a presentation it will be saved and it'll be made available to everybody. So just let me know and I'm ready to go. Okay let's let's let's do it. Okay so okay so I'll share my screen. Okay so thank you so much for taking the time to join this session today. We'll put it on presentation mode. Today we're gonna talk about safeguarding digital assets with an enterprise-grade security platform. This headline is not I would say it is deliberately phrased this way because there are many platforms out there many I would say tools to be able to safeguard digital assets but today we're focusing on the enterprise-grade ones which are quite different than the consumer ones or even the I would say small business ones and a great type of systems are required to meet several very fierce type of criteria and this is our focus today. It is my great pleasure to be presenting this presentation on behalf of Unbound. These are Unbound co-founders. Both are university professors. The first one is Professor Yuda Lindel who is the chief scientist officer and CEO of the company in addition to him being one of the co-founders and Professor Naash is the second co-founder. Both are mathematicians year-long mathematicians in the academia who were able to make a breakthrough about five or six years ago with MPC taking it from the not second sorry but even minutes time to milliseconds time and once something becomes as fast as possible or as fast as it could be it actually opens up the door to making it make it an applicable type of mathematics in this case. So this is a very brief history of the company started out in 2015 and now as we move along actually into 2020 magnificent COVID-19 type of 2020 we're serving we're very much having the pleasure of serving some of the best customers in the world. All are enterprise grade in their size in their requirement in their harsh pen testing processes that they're making the company in this platform go through. We're also very fortunate to have certified for fits 140-level two. We're a gardener cool vendor and we're holding right now 11 patents that are granted and about five or six more in process. So market capital market what's the market state? Interestingly I've been covering or dealing with this issue as a product manager for I would say five years now no before even unbound and with unbound for about three years and now director of product management for the blockchain product line. I'm covering several use cases whether these are capital markets IOT or enterprise type of blockchain such as supply changes for example or identity. Interestingly the capital market has been moving along I would say from the wild wild west kind of atmosphere where it was very much banned by the enterprises and the big banks and lately I've even read that JP Morgan has appointed VP for the specifically for the digital assets or blockchain assets. This is after two years having JP Morgan say that it will not deal with any blockchain type of assets. So this is really interesting the journey I would say that the market is going through this is a scale of or the milestones that the market has seen through I would say just even the last year you could see the names here very honorable and respected type of names that are getting into this market. I think what's more interesting is the fact that everyone has come to understand what I would say the enthusiasts have understood for three or four years already now. Digital assets are simply just a new type of financial asset class these are not different in any way from commodities from equities from cash even whatever you can do with cash whether you're even laundering money buying drugs you can do with Bitcoin there's no difference the dollar is still the same type of money with which you can buy whatever you'd like legal or not legal and you can do with cryptocurrencies whatever you can do with equity there is a major difference in the fact that there are not any government in between I would say the various sites the peer-to-peer type of agreement but still it's simply a new blockchain based type of asset class and therefore all the things that you can do with asset classes other asset classes you can do with this one as well you can deposit very much what people are doing with wallets today you can invest it you can do many types of derivatives upon it whether these are options forwards future swaps there are magnificent rules other to do atomic swaps with blockchain based assets so many things that you can do and the market is very much I would say just starting to emerge as a sophisticated financial type of market these are the use cases that we've seen these are many use cases also including the enterprise based ones but if you may just focus on the left side on the of the presentation the financial services this is what will focus on today and specifically will focus on the trading and custody please note the fact that there is like an emphasis on the trade finance because this is what people usually think of what they think of the cryptocurrencies market they think of all those small might be risky exchanges but this is a very small segment of where the market is or what the market is doing you're getting the fidelity and the generalized and the box doing also custody you get various types of custody and trading type of methods whether these are full custody co-managed type of custody or known to studios so many business models that are emerging but interestingly they're actually imitating what had what's happening with fiat money for that matter so if you were to actually bet on where the industry would go you could very much bet on where fiat money is today and simply draw back where the digital assets or blockchain based assets will grow to be in two or three years from now now this means that behind the scenes what we're starting to see are these you have the whatever you're doing with fiat finance you also are starting to see with blockchain based finance you see the front office the middle office and the back office starting to emerge is very sophisticated type of operations everything that you see here all those talks that are required in order to close the trade or to manage assets under custody you're also having to deal with when you're dealing with blockchain best based assets now I haven't put any keys out here but everything that you're doing here requires naturally some kind of authentication and authorization because whatever transaction you're doing whether it's the actual trade or the clearing and settlement of it or the even the monitoring of you know who can see what type of transactions have been made how much money does a person has and doesn't have in their wallet or in their bank account for that matter everything requires some kind of a password a secret in our cryptographic type of language and therefore you need a key that we're protecting now what's the challenge with that with the regular fiat market the key is important of course you do not want to give your password for that matter to anyone right but with blockchain it's even more sensitive because the key is the asset if one would put their hands or their eyes on the key they don't have to even steal the key they simply need to use it therefore just see it and use it even once they can empty a wallet this is very different from the fiat money in the fiat money you have organizations such as Swift not necessarily the government for that matter or even any type of formal authority but you have a middleman that if something happens you can go to that middleman or an escrow service or a trustee and ask for your money back complain in some sort of formal complaint whenever blockchain is the concern you still don't have those centralized authorities because the market is itself designed to be a direct peer-to-peer but it's actually starting to create all those middleman type of organizations to generalize the fidelities the bucks out there all the banks JPM city bank Goldman Sachs all are starting to actually work as middleman as safe garter's guardians for for the money that we all want to be very well safe guarded so it is still peer-to-peer but there are actually new tools to be able to protect these keys now the threats are various as you can see in this very I would say flourishing type of garden many hacks have happened along the years this is quite an old slide but it is a beautiful slide so therefore I keep on using it so many hacks and so many people that have lost their money some of them you're saying cool that they lost the money these criminals or whatever it is but it's not different than you know stealing money with US dollars or whatever person you're dealing with with blockchain as mentioned in the previous slide the key is the asset and therefore it's more risky or more dangerous but there are additional I would say threats and and challenges that one must deal with all by the way are associated with guarding this key so you have outside attacks on these keys and insider threats many of those allegedly I would say CEOs that have presumably died but are actually living on a some kind of an island with all the money or something like that if in just operational errors just you know the ability to type just one character that will change the address of where you're depositing money to the regulator requirements that are starting to get into the picture in a very sophisticated manner the insurer requirements if you want to keep your money insured the market agility how fast it's moving how many assets exist today and did not exist even three years ago or cryptographic curves let's say snorted today did not exist actually four or five years ago customers trust still an issue and of course the liquidity which must be assured when you're dealing with the more I would say rare type of coins not Bitcoin or litecoin but let's say if you're dealing with Cardano just as an example you want to be working with an exchange or a custodian that is able to liquid liquidize I don't know if that's the word enough Cardano for you to do business any questions so far moving on so how unbound MPC security platform is addressing those capital markets so up until today point I would say we've been very objective in the sense of this is the where the market is and these are the threats that you may want to consider if you're building an enterprise type of oriented of a business or you're a dressing enterprise or very institutional type of customers now I am representing unbounded you can see on the low of the level in the presentation and as of this point I'm actually not being as objective as I would say an objective lecture would be or presenter would be because we do believe that we have the most sophisticated and enterprise great type of platform so this for example slide cannot be shown by any other MPC player most are actually having if they're doing MPC they're having a two-party MPC we're having a multi-party MPC and therefore being able to shred the key into n parts and chair shares or shards as you can see in this example this could be five shares or 10 or 15 doesn't matter as far as mathematics goes these could be servers mobile devices of various types and none of them holds the full key each and every one of them holds just a key share the key never exists in its full entity it's always generated already distributed being used in a distributed manner and therefore not ever ever exposing the full key which is the main vulnerability with blockchain assets other MPC players would be able to show this slide had they have shown it using two key shares not more than that usually they would hold one key share with the customer side and one key share on the server side being staff players and let's say just an example multi-sync type of players would show full keys and not key shares and of course HSMs would show the full key in an HSM unbound platform is such that it has a key signature and policy management policy for that matter is the actual representation of who can sign let's say these are just as an example six signers and you have to have two groups one or two of each group so that's the policy for each case you can have different policies and serving the enterprise great type of customers we do acknowledge the fact that they have their own needs as far as KYC is concerned AML managing various nodes are getting reliable market data in etc etc and therefore we have an integration service bus where customers can plug and play if I very much would simplify that their own applications or systems just say pricing or tax and have partnerships with various of these actors to be able to serve our enterprise rate type of customers in a I would say most added value type of play now I'm not the one to say even though I believe so that MPC is the future gardener also says it so this is not me saying this is gardener saying so let's cover some of the challenges I would try to make it briefly but still just for you to be aware of the challenges that enterprise great type of customers or institutional type of customers are asking about so one of the things that they will ask about is policy controls these are not you know the organization that would hold one key within the customer hands very much like the consumer type of business they need very sophisticated roles management and policy controls that would make sure that they are satisfying their institutional type of customer so with MPC which empowers organizations to have cryptographically validated approval processes this is very different from application security rules this is not if then something happens remember the key is very vulnerable so if then could be very easily changed by a smart hacker but if just each and every one of the approvers holds just this key share any hacker would have to break into all the key shares at the same time simultaneously to be able to steal I would say the signature not even the key itself so if this is the case we can actually build very sophisticated type of policies in this case you can see three groups you could see that there's an external group to the organization that's a customer you have the service provider and you have a trustee it just as an example could be Deloitte, KPMG, RSM just three examples we are working with and you have a policy where you have one out of two plus three out five plus a trustee one out of two meaning a policy of five out of nine I think yes so five out of nine have to be trusted to sign each and every transaction so this enables organization to make sure that they're adhering to segregation of authorities type of policy or guideline by the regulator which cannot be done in a cryptographically validated way when you're doing if then type of applications another way to assure that you're following the regulators and the institutional type of requirements are the role-based access type of features and capability where when you're dealing with MPC a role would consist one or more user and it defines the right on authority level for each action now users as mentioned hold just a key share none of them hold the full key and an approval policy is per type of action meaning you have let's say three out of five to approve a transaction you have two out of three to change a policy and you can go on and on with the definition of who can do what the main I would say objective of using or leveraging MPC is the fact that you always always have a group of users do something nothing can be done with one user and therefore we're actually calling them in the system unbound system we don't call them users we call them participants because none of them is a full user for that matter there are always taking part participating in an approval mechanism or action so this is a screenshot or several screenshots from the system where you have an example of two policies you could have and policies doesn't matter sorry okay moving on so you can actually see one policy where it's BTC Bitcoin automatic day trading and the policy would be two out of four and since these are automatically day trading meaning in this example we don't see the exact parameters but I know that these are very small amounts you only need two machines that are compliance oriented meaning ML machine and a fraud management machine but if you're doing a BTC manual trading again we're missing the screenshot here specifically but you had I shown you the full flow of it you would have seen that there are higher amounts that are relevant for this type of transaction and therefore requiring as you can see two out of two meaning an ML machine and a fraud management machine but also a human person to validate the transaction at least two out of four so you see this is a policy of four out of six parameters wise behind the scenes you can define a policy per S type transaction amount time of day day of the week but you can also create custom policy now this is an example of a custom policy where we're leveraging Cypher trace this is one of our partners an AML partner for that matter so there I don't know if you're familiar with Cypher trace they're able to grade each and every target address from where the money is originating from so if they're giving an address a grade of 8 plus or 9 plus you would know that you cannot target this money or address or deposit money into this address simply because it would probably be that it is coming from a terrorist type of organization or drugs organization they have very I would say detailed type of ML targets that they're working with very sophisticated type of company but we're leveraging their software to be able to feed unbound security platform with a very sophisticated proactive compliance type of action so in unbound you can define to use Cypher trace as an example so if let's say an address is graded a plus you would automatically decline it using bots and if it's between zero and three you would automatically approve such transaction but if the grade is between four and seven you would require a human approval so this is one I would say additional layer of a sophistication of how you would use the MPC interestingly none of these bots the data collector bots of Cypher trace hold the full key to sign the fact that it's an 8 plus type of address you actually need a quarrel meaning a group of these bots to be able to approve such and I would say feed into unbound none of them holds the full key for that matter you need three of them to say the same thing another challenge is the fact that insurers require the incorporation of cold vaults into the architecture you don't need those I must say in order to safeguard money it doesn't matter security wise this is more of the status quo of the market but insurers still feel very much have peace of mind when you do have cold servers somewhere behind the sink and we're very much respectful of this requirement so therefore unbound empowers customer to create an architecture where you have hot vaults meaning connected to the internet for that matter but also cold vaults and these could leave parallel to each other using a trusted communication between them I wouldn't go into much of the details right now I would say though that if you have an architecture where you have a cold vault the admin group remember we talked about a role of let's say establishing a wall changing policy in this world so if one of the group is called it has to be fully called but also the admin group has to be a fully called one so there's no way in which hot members can change let's say the cold members to be hot ones now if we take it one step further you could have and I wouldn't dive into this right now and of course there are questions around it but you could have a really sophisticated type of architecture where you have cold signers living side by side post signers and actually be working together so a transaction would require by definition cold signers in addition to hot signers meaning no transaction can move along I would say outside of their any organization would in order to withdraw money would have to have the cold signers sign first and only then add the hot signers and only then be able to approve a transaction to go out this is another layer of sophistication because unbound is a very proud partner of IBM Zed Linux one specifically so the entire security platform of unbound can live inside the IBM Zed Linux one platform and therefore actually offering our customers the ability to segregate the signer bots within their own enclaves have an HSM level three and four be part of the architecture therefore serving I would say the most strict type of organizational requirements if they happen to be part of the requirement another challenge is the need to supply or attend to the needs of the regulators very happily regulators are catching up with where the market is and issuing their own requirements so just using a few examples if you're using the Germany banking this is not specifically relevant for digital assets but it does require the following I wouldn't read all of them just now the presentation would be in your hands after this meeting but as you can see you must have just as an example and compliance officers as part of the approval policy you cannot give up on those you must have reliable tamper proof type of audit database or audit log policies must not include the custodian so many I would say rules and you have to have a platform that is very much targeted at these types of organization or institutional type of customer both per customer script script auditing requirements that will be leveraged by external auditors etc this is for the very simple target of protecting all of our ass money all of our needs as depositors or as safe customers of these banks and Germany is one of the countries that is the first ones to actually allow banks regular banks to be able to safeguard digital assets type of money to their customer in the United States it just follows so this is from the US custody rule it's a very long type of rule naturally but just a few of the items that are repetitive and are actually the ones that unbound is proud to be serving their customer with but it's pretty much remember we started presentation with blockchain assets imitating the fiat type of assets classes and therefore it's pretty much the same meaning you need a vault which is in our language a key per customer because the key is the asset you need a tamper proof audit log you need customer based periodic reports that will be leveraged by external auditors you have to share them with the customers themselves and of course you want to have an insurable platform just just not just for the peace of mind of customers but also to make sure that trust is maintained in the financial industry the last example if you are is from the Japanese FSA and as you can see the rules are pretty much repetitive each and every country is looking to the other countries to make sure that they're following the most I would say developed and sophisticated type of regulations so with the Japanese FSA also you need AMM compliance officers to be part of every approval policy offline signers must be part of the process you must have multi-party approval policies you must have a vault for customers etc etc now everything could be maintained with application security rules those if then let's say you have to have five people maintaining each and every transaction etc but remember with blockchain assets where the key is the asset these if then rules are very vulnerable and therefore MPC is a better solution another challenge that we've seen customers struggle with are actually coming to unbound and leaving I would say other suppliers is the fact that this market is so volatile so agile that new assets are emerging day after day and as a supplier of these assets even though Bitcoin and Ethereum and all its ERC 20 token and I would say children I don't have to call that this way because they're all on the Ethereum ledger they're holding about 75% of the market but there are very new assets that are coming in a new trend let's say the proof of stake type of assets and to be able to secure any type of assets to be able to adapt to the changing market needs very fast you have to have a platform that is ledger agnostic or asset agnostic you cannot afford to wait six months for something to happen because you might be simply losing the market trend for that matter just like in field money where a stock or an option would be very popular you know for a certain amount of time and then after half a year it's no longer relevant we've seen that very relevant now in the last I would say six months some of the options or stocks out there have become very popular and some have become yesterday's I would say news even the most prestigious type of stocks out there let's say the airline stocks just imagine you having to wait six months to be able to sell such a stock if you wanted to do so would be devastating for you as an investor so the agility or the ability to adopt to protect and to be able to trade assets very quickly is a mandatory requirement and being MPC based meaning digging down into the ledger itself and being able to sign everything because at the end of the day these are either ECDSA or EDDSA mostly type of curves behind the scenes is a very I would say important added value for blockchain type of customers another challenge is the need to the need for speed you have to finalize a trade very fast you have to clear and settle a transaction very fast this is not different than the Fiat market this is a slide that relevant for the Fiat market type of stock exchanges the NASDAQ the Singapore the London Australia Tokyo all of them are or are committed to be able to trade assets and clear and settle them very fast as you can see this is something that these organizations are being measured upon for reasons such as liquidity efficiency and trust and the blockchain market is not different in any way it is very important to be able to not only safeguard but to actually trade and settle trades very fast now this is a public case study of unbound the liquid customers and Japanese exchange not now working under the Japanese regulations starting to serve as a custodian by the way in the very last few months it has published on behalf of their own interest the fact that they're with unbound were able to take more money into their hot vaults instead of just keeping money in cold vaults and therefore being able to clear and withdrawals very fast in minutes time instead of hours or days time because whenever you're having to go physically into an HSM within a specific room you're actually having to gather people in a specific environment physical environment you try to be able to sign something so if you're getting a trade action on Thursday just as an example or Friday afternoon you someone would have to wait until Monday for their money and when it's MPC when you're using mobile devices to sign you can do that wherever you are you can do that with how many people and machines you want and therefore being able to clear withdrawals in minutes time instead of days now the challenge is security wise in addition to all the challenges that we've talked about is the fact that there is a status quo out there the market is used to from the regular financial industry to be able to safeguard money with HSM's at the most they're usually working with multi-stakes simply because it's been out there and more I would say understood for the last two or three years and you do hear of SGX being some sort of not some sort of but it's a type of a trusted execution environment but also you're starting to hear in the last year or two more and more about MPC we were pioneers in this area very proud to be once there are followers and the market is gaining understanding and we're gaining adoption not just unbound but the entire market is starting to I would say acknowledge the superiority of MPC for other or above other solutions such as an HSM or multi-stakes but this is still I would say a challenge to convince the market not to go with a status quo another way to look at the market as far as the competitive landscape or the ecosystem is the fact that usually especially with enterprises you do see them homegrown homegrown sorry their own platforms we do it yourself type of approaches this is mostly I would say apparent when you have HSM's and multi-stakes because you're building the entire I would say infrastructure around these machines or these capabilities the challenge is that with MPC you must have the expertise of an MPC person and there are no junior MPC out there people you must have experts there are no exceptions to doing MPC in the right way and therefore regardless of me being part of band bound if you've decided to do MPC please please hire the best cryptographers out there there are a few not more than a dozen out there but still there are quite a few so please consult them leverage their resources their advice if you have decided to go through this round there are SAS player out there supplying whether it's MPC or multi-stake type of capabilities they're very respected very good players out there if you're a small vendor if you're just starting out if you cannot afford to buy a security platform if your volume or assets under custody are not that I would say significant please go ahead and start with the SAS platform I hope I wish you all the best in the sense of being able to grow your business to cross the 100 million dollars assets under management type of threshold and from there you'd probably be required by your customer to actually control the key in its full or have the full control not the full manner of the key but have full control over the key therefore you would not want to be sharing your key with the vendor and operations wise you probably would not want to share the operation cost and the licensing cost with the SAS vendor and of course the security platform unbound is an example of such a platform there are of course other platforms out there multi-stake MPC HSM based there are quite a few we're working with a few we're partnering with a few so there are those three routes so if you're analyzing the market and deciding upon where would you go please consider these types of technologies behind the scenes which one would be best for your needs I'm available by the way offline to be able to take any questions as to the parameters that you may want to consider and there are of course the I would say deployment of methods of each type of solution I would say now I would be repeating why the gardener is actually saying that MPC is the next gen multi-stake if everyone has started with an HSM or a single key type of signature and with blockchain type of assets have acknowledged that these are most vulnerable as we've talked about they've moved on to having multiple keys therefore having multi-signature type of transactions but these have their own tools you don't or you cannot support all types of assets very easily these are very much Bitcoin oriented any theorem oriented in the two out of three you cannot create very sophisticated approval policies as we've seen you would usually add application security rules above the two out of three type of rules which are vulnerable as we've shown usually if you're an enterprise-grade type of customer you would like to start off with an MPC type of solution so MPC is the next gen multi-stake these are just a few more slides as far as the sophistication of the platform itself not drilling into those this is the architecture behind the same I don't know if we want to dive into those maybe we could take these offline if people are more interested yeah okay I would also yeah go ahead I mean you know finish your presentation and then we can have people ask questions if they are interested okay so just to say something about this slide MPC is of course the claim for fame of unbound but actually with any security type of approach it is very important to build a multi-layer type of solution so you see here some of the layers that unbound is very much proud of incorporating into its platform so you see the credential based aggregation the software stack based aggregation and of course the device based segregation and you see additional segregation in ground enhancements that are horizontal not vertical this is in addition of course to the MPC protocols and this is an example of how a transaction would flow behind the scenes very basically you know you may want to read through later on offline but basically a signature is being created in an encrypted manner and the various participants hold just a key share and are responsible to decrypt part of this encrypted signature once enough decrypted key material reaches the server side and I would emphasize here that the validation of the policy is done in a distributed manner by each and every one of the signers so you must have all the enough arbitrage set of the threshold key material to be able to decrypt the encrypted signature and only after you reach the M of N enough key material able to release the decrypted signature from two of the servers behind the scenes again none of the servers none of the devices holds a full key or full signature for that matter and this is it oh that was fantastic thank you thank you thank you so much for the time thank you for taking the time to join this presentation okay we are open for questions I take it anybody has questions please ask if I hear no questions then I will ask a few don't be shy money hi Rebecca this is Manny from Swap sub we do use unbound we are actually integrating into our core platform I'm working with Ross yeah yeah good how you doing so yeah so we have actually gone integrated with your platform now we are actually able to do clear our own asset and go to MPC and build the whole infrastructure we it's taking a while for us because it's being incorporated into our core trade management platform exactly on a securities processing so one of the things that we are looking for is I mean which you know within and also contributing and we're working together is to how to bring MPC to CBDC or the central bank digital currency infrastructure so that's something that I wanted you to know know about and probably we can talk about much later when we have another time interesting I love yeah then the question really is for us this is how do you for just for you know all of our understanding how do you compare against specifically curve and fire base those are blocks yeah so firstly both are very respectable type of actors for that matter but they're using different like the devil is in the details I must emphasize so curve is doing two-party MPC not movie party MPC so whenever you're working with curve you're actually having one key share on their side one key share on your side if and if you're needing sophisticated approval policies you're actually adding application security rules above that I do think that they were actually targeting the long tail the smaller actors I wouldn't see and their sass of course I wouldn't see any large bank working with curve not because they're not good simply because banks need full control and need very sophisticated approval policies that are cryptographically validated and currently curve is not able to do so this is with curve even though they're really great guys they're very smart they're very you know they're friends we're working physically about 30 minutes driving from each other and we do meet each other colleagues in conventions so they're very good guys we're simply targeting different market segments with fire blocks they're simply building a different product they're building a great marketplace where you would be using them as some kind of not middleman technically but they're building your marketplace where just as an example exchanges could exchange money between them too if they're closing the deal with an end customer and each of the customers each sorry each of their exchanges let's say fire blocks it customers are actually holding currently by the way still not NPC but currently holding Shamir's secret chair in key shares and therefore after being authenticated using the key shares on SGX's type of devices or processors in each exchange type of part they're actually reconstructing the key into a full key therefore being able to sign it so they're using a different technology they're targeting a different market that actually building what would one call I forgot the name like what Torah is doing Torah casting you know the actor an OCC platform sorry an OCC platform and over trade kind of platform so they're targeting a different market for that matter again the JPMs the city banks the gold months would not work with either of them yeah that's that's you know that's what we evaluated and that's why we have chosen an unbounded as a platform integration thank you I do believe just to just to complement these guys that the market is big enough for everyone like you know yeah just one more question can you outline about the MPC Alliance and what is unbound doing about that in that organization yes I think the Nigel smart professor Nigel smart is one of the co-founders of this alliance as well this is pretty much like a thought leadership alliance in the sense that nobody knew what the MPC was five years ago this was kind of you dial in the professor you the Linda is always laughing about that that he's like a nerds kind of geek in the sense that wherever there's a big convention and he has written quite a few books and many articles you would usually see about 10 people coming to ask for his autograph now that you have this alliance and more people are aware of MPC he's actually getting dozens of people to approaching so that's pretty much like getting people to simply know what MPC is and how relevant it is to various I would say use cases and challenges out there this alliance is a great tool it's not a commercial type of alliance just a way to spread the MPC word thank you so much for this question thank you anyone else has questions in which case I'm going to ask a couple thank you one is you mentioned you know most of the cases where there were key loss would lead to loss of asset key is the asset now going going to mostly to public blockchains that seems to be true are there any enterprise blockchains let's say the ones that are permissioned that you work with where that would not be the case even if you lose the key I mean if the key is stolen because there are other ways of let's say protecting the asset that's one question okay that question between the difference between public and private blockchains for this for this sort of you know MPC type security the second question is about various assets that are protected you mentioned a lot of cryptocurrencies but are we going to see more and more regular assets that are tokenized or even currencies like CBDC which are you know which are not which are backed by the state and by the central banks entering the picture and having block having MPC as the security method so the two questions right one is public versus permission second is these new type of assets because the volume is so much more than you know crypto assets yes thank you so much for these questions this is a great way to expand these discussions so if I may start with the second one one of our customers is Archex and they're dealing not with the regular bitcoins and Ethereum they're actually doing tokenized assets for that matter just as an example real estate type of tokens their founders are coming from the regular fiat investment type of industry very respectable type of co-founders and a customer of us so yes we are having such customers I do think that they're working with public blockchain not specifically private blockchains for that matter but yes MPC is protecting such type of assets in that matter MPC is agnostic so we can protect US dollars we can protect data files we can protect database encryptions the use cases are endless in that matter it is just that the I would say the amount of pain dictate the market fit as far as the business goes because you wouldn't really want to invest that much money in protecting I don't know regular let's say emails you know I don't know whatever it is I'm just from here an example but when it comes to financial type of assets fiat or blockchain you do need a better protection methods and MPC is gaining momentum day after day with regards to the private versus public yes we do have private type of private blockchain type of customers I cannot disclose the names I am sorry for that but still the assets would be very much I would say sensitive ones let's say healthcare records would be documents ratings credit ratings or financial type of documents this is a hint as to who these customers might be this this is not so much protecting the key as far as stealing the assets but actually not forging let's say you have a customer that has been editing a specific rating of a financial company or a company and you do not want to or be able to forge the the grade of that customer just as an example so it's not so much stealing money with these examples but actually making sure that the data is valid is is keeping its integrity level or no one is being exposed to the medical records of people you know as simple as that great what is the full form of CASCASP oh we should change actually the name it is just the people have gotten used to it but it's crypto asset security platform but I think the marketing people are actually eager to change it this is like a 2018 type of name and the market has evolved so much since two almost three years ago so I don't know how they're gonna call it but it's crypto asset security platform CASCASP yeah that's a misleading yeah that's why I even suggested to you guys like this change to digital asset security platform yeah thank you I think they will change it digital asset security platform CASCASP yeah exactly like everything is digital I don't know when have you touched real physical paper money the last time I haven't touched it for a long time so everything is becoming digital yeah some of us I mean the amount of cash use in the US is pretty high even today even after the pandemic so anyway thanks for a delightful presentation if anybody else has any more questions now is the time to ask of course it's only two minutes left and as money mentioned we are you know we have this in capital markets lab space we have two projects that we are working with one is the one is the ETALA project which is a CBDC project the other is for cross-chain settlement instruction all of these require signatures cryptographic you know authenticity so obviously we can lay the MPC on top of it the you know we will continue this conversation especially if we can demonstrate some of these you know publicly using MPC on top of this these assets in the labs the other thing is everybody is adopting ISO 20 or 22 all the big banks all the they all seem to be adopting that and it does not seem to have in the message various pathways for signatures so they have a header that is been put on every you know that you can optionally include in the message that has space for digital signatures and for other types of cryptographic surety so hopefully your business will will include those kind of use cases for Bank of England and even for the Fred now project because they are all adopting ISO 20 or 22 anyway it's been a it's been a nice conversation thanks for showing up and putting all this effort into the presentation thanks again and you know hopefully we'll continue this conversation thank you thank you so much everyone have a great day