 Good afternoon everybody and thank you very much. It's a very big pleasure to be here and I want to thank everybody, Ritu and our old team from Entrepreneur India for this honour. It's going to be a strange topic today but I really want to introduce you first to a couple of quick things that have inspired our team. And just so you're aware, Dandelion is a Layer 1 network blockchain but we're a little bit different. We have done a few things that are different. We've structured things a little differently and my own background comes from the verifiable credentials industry so hopefully you'll understand why some of the topics that I'm going to be addressing today are of personal interest. First I want to introduce you to a couple of the persona that inspired Dandelion and its vision for what social media could look like. This is Molly Russell. She lives in North London. She enjoys horseback riding and she is very much the apple of her father's eye. This little cute as a button girl is Selena Rodriguez. She lives in Connecticut with her mother. She doesn't have a lot of opinions about a lot of things except she has got a very strong opinion about COVID lockdowns. That being, I don't like them. And this is Manav. He lives in Guguram, which is here in India, just outside of New Delhi. What do they all have in common you might be asking yourself? Well, unfortunately, they've all committed suicide. And in all cases, the investigators have identified that social media played a prominent role if not the driving factor. Bots, many of you are probably asking now, what do these people have to do with bots? Obviously, we know about cyber bullying and we know a lot of the problems. So why bots? Well, bots aren't really the core problem, but let's be honest. If it weren't for bots and those few lines of delusional code, teenage boys would never have 100 bikini models following them. But they do on Twitter. So Elon Musk effectively paid somewhere pushing $5 billion for some delusional lines of code. That seems like a problem. But it's a problem that exists for a very simple reason. And the reason is a cost gap function of economics. We know what the elasticity is of bots. Effectively, it's what is the cost to produce the bot versus what is the potential derived revenue that the coder, him or herself, receives. So we know what the problem is. We know why it exists. It exists because of the free account setup. Why our accounts free is probably the core question we should all be asking ourselves. And it's because they target children. Those of you who know about how the Web 2 profile exists, you are the product. Your life, your most embarrassing moments, your daughter's favorite cake, your sister's worst sweater, all of these things are the product. So in effect, as long as you're comfortable with that, you can sell your soul to social media. And that's fine for many of us. We enjoy driving down a highway. We're quite comfortable accepting that we're not paying a toll as long as we don't have billboards along the way. Or rather, we can accept the billboards along the way as long as the driving is free. But there's a different market. There's a market that believes we don't need to have those billboards along the way and that we are having a willingness to pay. Now the reason children, let's be frank, they provide the longest lifetime value. Their brains are effectively mashed until they're 26. They're exceptionally malleable and they all have a very strong desire for being engaged. Social approval, approbation, these things matter. So it's no wonder why when they have no money, without two shekels to rub together, we set free accounts. And that means we end up with this problem. Correlation is not causation. And to be sure, the decline of children throughout the West, don't think India is immune, we can come to you shortly. But the decline of children throughout the West in democratic societies is probably a result of many factors. But this, this is pretty profound. That social media rises and child suicide increases is surely cause for concern. And surely because it is so closely tied and these stories are now rife. Surely we should be thinking about why is this happening and how can we possibly ameliorate it. Here's your problem with all of your centralized systems. Costs are internalized. So Twitter and Telegram, amongst others, have tried to go decentralized. Now an investor will tell you, for economic reasons, that you need to centralize and internalize costs, drive revenue, and thus achieve ROI, return on investment, and get to critical mass. That's sort of true. That's sort of true. That is if you isolate the entity. But if you decentralize, you can invert that model entirely. And now the actual product is yours to own, which of course is the Web 3 model. However, it is a technical problem that we face in Web 3. Blockchains and, for example, Ethereum and every single layer 2 associated with Ethereum, they max out at 4,000 transactions per second. 4,000. To illustrate, former President Barack Obama has 116 million followers on Twitter. If I were to have him send one single tweet out and settle on an EVM that is the entirety of the Ethereum and layer 2 community, at the cheapest cost of any layer 2, it would cost over a million dollars, and it would take over 8 hours for him to reach all of his community. That is one tweet from one person. We call this the n-directionality problem, and it is the reason why centralized still prevails. On the right, I want you to refer to this tiny little strip. This is the breakdown of all of the Ethereum machines. Many of you work with Ethereum. That is your EVM, is your blockchain of choice. We're going to challenge you. So we know the four principles that matter most. We know that we need to change the economics. We need to dis-incentivize the structure of a free account entirely, which can enable bots, some to produce false narratives, some to delude teenage boys. We know that we need some form of self-sovereign identity. The last couple of panels have been exquisite in identifying the importance of how we can have verifiable credentials. That's a background of mine, and it's of personal interest. I can't agree with you more. We need to invert the revenue model. All of the current thinking has been valley-oriented, and that is a centralized, how do I monopolize positioning? We can sort of blame Peter Thiel for this, who, by no coincidence, happens to be of course part of the PayPal mafia with Elon Musk. Peter Thiel always had the position, I want to dominate a market, I want no competition, I want to squash them. That is a very centralized way of viewing how a revenue model could be achieved. We need to change that. And the last and the hardest problem I hope I've identified to you is the problem of the technical in-scalability of EVM. That little strip on the left is Ethereum, and all of its entire Layer 2 community. The reason you cannot centralized social media today is because of that. My background was in epidemiology and network analysis for banks. I used to build hedging products that were specific around how you map a network, a transmission network of any kind. I joined the Dandelion team, its inventors, its cybersecurity professionals because they solved this problem using the most cutting-edge cryptography of today. They've broken the chain model and created a lattice. And this is how we can achieve decentralization of social media because here, we can get that same tweet blasted out for fractions of the same cost and a tiny, tiny fraction of the time because that's how much you can do in one second on Dandelion. This was the email that was sent to Molly Russell, that little girl from North London who likes horseback riding with her to her father's... It was his only daughter. This was what she received. We're not going to be able to change social media. We're not going to be able to eliminate this kind of death spiral promotion from bots until we can change the technical underpinning model. From that derives all of the economics that can change and create a social media platform, which quite frankly, rather than leveraging our children's worth today, we can make a media platform that is worthy of our children. Thank you. And I hope you join us.