 There are now over 6,000 different cryptocurrencies across which Luca has mapped more than 27,000 different trading pairs. How do you make sense of all that data? What is a unique identifier, or a VWAP? Can blockchain data save money on taxes? Robert Matarazzi, Co-CEO of Luca presents his keynote speech on the importance of blockchain data from the Cointelegraph Crypto Traders Live event. Here's what you missed. I'm the Co-CEO at Luca and we're going to overview today a couple of the challenges that we're helping our customers solve specific around data challenges for post-trade operations. Just a little bit about us. We are a data company and we are focused on blockchain and tokenized asset data and cleaning it up to help support normal typical business operations. We collect data from all the various exchanges or trading venues that people are used to receiving. Often it's privately held data and not off of an actual blockchain, although we do accommodate actual blockchain data as well. We pull it in, we normalize all the data so that if Kraken uses XBT to represent Bitcoin and Coinbase uses BTC, and now you multiply that times the thousands of assets and all the different sources that are out there, we have data products that help to clean all that up so that when our customers, which are a lot of the big exchanges and institutions that are serving this industry, are solving their financial requirements, we cater to those needs and help them close their books. If they're funds, strike Nav, pass audits, and do all of the other post-trade operations that businesses require. So we have a suite of products. I'll just touch on this really quickly. We have our LucocryptoOffice product, which is really our main enterprise institutional software. It's very feature-rich. It collects all the data, and that's the one that we offer to a lot of the businesses that are out there. And then we have two data products that we created to support the software. The first is Lucor reference data, and the second is Lucoprime, and those are the two topics that we'll cover in today's presentation. And then additionally, we have some tax-specific products that are catering to 1040 filing. Our Lucotax DIY, which is a retail similar to a TurboTax, except for your crypto side of things. And then we have Lucotax for professionals, which were partnered with CPA.com, which is for tax professionals that are servicing their clients. And then we have a thought leadership subscription that talks a lot of the unique intricacies, such as tax treatments, but it's a lot more comprehensive than that. So accounting, data challenges, and a lot of the other things, and it's a content-based subscription. So those are some of our retail products at the bottom. Today's focus, though, we thought most relevant. We wanted to cover our reference data and Lucoprime products and the importance of the challenges that they're solving. And so the first one, why is reference data needed? And for those of you that aren't familiar, I mentioned this a little bit, but there's thousands of crypto assets as everyone are aware, so a lot more common than others. These are offered on various different exchanges or OTC desks or other businesses that are offering them to all the traders that are out there. But all those exchanges or trading venues get to pick their own tickers and their own ticker symbols. So that creates a lot of complexity when you're combining this, particularly when individuals in order to acquire some smaller coin might need to purchase Bitcoin on a large exchange like Coinbase that they bought for US dollars, transfer it to somewhere like Binance to trade for some other coins, and then do the reverse all the way back to turn it out to cash. And when you multiply that times all these different exchanges, all the different assets, it creates a lot of complexities when people are trying to do things that should be very simple like pay their taxes or what a lot of the businesses are accommodating in financial statements and passing their audits. And today there are no unique identifiers that are specific across the board. So there's no standard setters that are driving this currently. There's exchanges obviously all over the world that people have access to. And so all of these unique challenges really forced us to create a data product so that we could make our software work. And that's when reference data was created. We were our first customer at first and now it's very popular among a lot of the large institutions. And so our reference data is the golden standard of digital asset data. So we create this master listing of tickers. And really it has, so we have over 80 entities. So an example of an entity would be Coinbase, a second one would be Kraken. An entity could also be a pricing source like CoinMarketCap. And we've mapped over 26,000 assets that create the 5,000 plus unique assets across all those exchanges. Over 10,000 unique trading pairs. Additionally, we've recently added over 27,000 derivative ticker symbols to our reference data as well to accommodate that. And then we can, so we incorporate this into our software. But also institutions or businesses can license it to us as a direct data feed through something like an API or flat files are all depending on their requirements. And if we, here's an example of some of the tickers that are out there. So we created unique ID for each of those assets. And then in the background, we're mapping it to all those various exchanges so that from the customer's perspective, they're just using a single ticker for each one of their assets. And they know Bitcoin is Bitcoin. And this is incredibly important when creating tax lots, particularly with higher volumes of activities where you can take advantage of tax strategies by matching your acquisitions, potentially that you're trading or acquiring on various exchanges. The next product is our Luca pricing product. So this one is when we say pricing, we mean for valuation purposes. So when you have a crypto-crypto trade, so Bitcoin for Ether, and often you're charged a fee that's also in a cryptocurrency, it creates some unique situations where for tax or compliance or financial reporting purposes, we need to determine your cost basis or proceeds. So the value of that transaction at that point in time so that we can do normal tax or financial calculations. And so what we do is we will bring in a pricing source. It's very often that services will provide pricing sources such as VWOPs or average prices. But for tax compliance purposes, that's not considered a best practice. And if you're a business and you're complying with GAP or IFRS if you're overseas, it explicitly says that you should utilize actual executed exchange prices and avoid things like VWOPs or averages. So those are usually for the pre-trade side of things. And so what we have done is we've created Luca Prime and a number of other pricing products to create flexibility for these businesses so they can select from a menu of different pricing sources. They can bring in a VWOP if it's appropriate for what they need. We also have a Luca Prime product. Luca Prime uses a unique methodology that's designed to be aligned to GAP and IFRS guidelines. And what it does is using a bunch of qualitative and quantitative factors. It selects an actual executed exchange price based on those factors. So for every point in time, you're using an actual exchange of price. So it's selecting one of them from many exchanges that are out there. And that supports all of these tax or audit use cases. We also do custom pricing. So we can create an average based on parameters if a customer needs it. Or we can feed in third-party pricing data on a case-by-case as well just to create flexibility. So that's the end of the presentation. I'm happy to answer any questions or dive into anything. Great. We have an immediate question from Roger Brown who asks, why is the Luca pricing product superior to those offered by a VWOP? Sure. And I wouldn't necessarily use the word superior to be tactful. I would say that it's more appropriate for audit and tax use cases. So specifically, if you're post-trade and you're a financial controller and you're going through your first audit as a business and you need to value your assets for books and record keeping purposes, using an executed exchange price aligns to accounting standards in short. It's also not formal guidance, but in the FAQs, the IRS is stating that you should utilize executed exchange prices. That can be very challenging to do, particularly when you're trading across a bunch of different exchanges. And so these are satisfying all of those requirements. Where the VWOPs are very logical for other use cases in market data and other pre-trade operations. So it's just two very different separate uses, which both are. Thanks, Robert. I also have a question from my side. Since you are dealing with taxations, I was wondering, are your customers all U.S. companies or also companies based in other countries, other jurisdictions? No, we absolutely do service globally. I'd say we are U.S. based. So we have the majority of our customers are U.S. based, but we absolutely have many customers overseas and are happy to work with them. This pricing product, for example, we did design to accommodate IFRS, which is an international accounting standard opposed to U.S. gap. So we absolutely cater to companies overseas. Great. We've got another question from the audience. This one is coming from Wuk Chui, who asks, there are not many trustworthy data oracles, which are widely accepted at this time. How do you plan to keep the competitive advantage? Sure. I mean, I guess with any business, competition is usually good for the industry. So I'd say anyone that's operating a business should encourage that. It helps the consumers. It helps the customers that are out there. I'd say for our own competitive advantage, we have a special emphasis in catering to what our customers are asking for, and that's part of our culture. And so I'd say that keeps our customers happy, which keeps our business profitable. Thanks. We also have another question. What kind of target market does Luka have? Target market, sure. So all businesses that have financial transactions in digital assets. So anyone that's trying to solve those pricing and reference data are only two of the challenges, but ultimately managing all of that data for post-trade operations is very challenging, can be very costly. So our goal is to reduce those costs for businesses that are out there. Great. We've got another question from Roger Brown as well. He says, does or will Luka support thinly traded crypto assets? Yeah, that's a great question. So our Luka Prime today covers the more liquid assets that have higher volume. And we're absolutely in the process of rolling out. It's not available yet, but it will be very soon within months. We will be adding a number of assets to our pricing data in order to accommodate the more thinly traded assets that are out there. And we'll have white papers and thought leadership and would love to discuss that with anyone that would like to reach out to us. Yeah, so I think it's a great time to wrap up. Thank you so much for that presentation. I hope you guys out there listening to this learned a lot about Luka and their products. And thanks for sharing your presentation with us. Yeah, thanks for having me.