 Let's be honest, the SEC and the US government wants nothing to do with Bitcoin, crypto and digital assets. It makes me concerned because a lot of people aren't looking forward. So to me, I'm always taking a look at the alternatives. And what I'm talking about is there is this thing called Operation Chokepoint 2.0. It's going on right now. And what the US government is essentially doing is, of course, shutting down those banks. And they've been doing this since, you know, March of this year, shutting down those banks, actually even before that. So it's a little bit of a problem to have an on-ramp. If you can't use the bank to buy those cryptos and digital assets, and people say, well, Rob, what about a dex? Well, you have to get that fiat into crypto first to exchange it for other things. So unfortunately, right now, we are beholden to these banks. And that is the problem because of that. We have talked to CEO of Meld Ken Owling. And when he was on, we had a great discussion about what the future could potentially hold. Now, just for a refresher, Meld itself, it's combining crypto and traditional currency. It's a DeFi lending and borrowing protocol connected by a multi-chain non-custodial wallet to a Web3 Neobank. It's multi-chain, which is Avalanche and Cardano. And you can also get a loan and keep your keys because you use your crypto holdings as collateral to secure low-interest loans and fiat while maintaining your private keys. So essentially, it's the best of both worlds. And take a look at that Neobank itself. Wouldn't this be awesome? You got one account, you can store your cash there, your crypto there, you can buy and sell, you can exchange and swap. You can earn, do all those things that you usually do when you do different things as far as like with stake pools. And of course, you can spend it on your debit card and move forward. So again, everything all in one place. The thing was, is that when I had Ken on, I had one basic question for him. And just take a listen. Okay. And then here's the last question then. Ken, I don't believe you. Yeah. So here's the thing. I've had a lot of people on the show and they tell me great stuff and then they've been lying to me. How can we verify this? So let's be honest, we've had a bunch of different guests on here and they've lied right to my face. They lied to my face, they lied right to you. And to me, I was like, Ken, I don't believe you. So we got to verify this. We don't want to trust anybody. We need to verify. And Ken in the interview, and I'll link that as link in the description, you can watch the whole entire interview. You say, you know what? Why don't we bring on our CTO, which is Pepe Blasco? And he can explain to you how you can verify all these transactions because again, this is not some type of centralized exchange or some kind of CFI. This is straight DFI. This is where everything is staying in your wallet. You have total control of it. And you can verify these things. The problem is a lot of people don't know how to verify these transactions via these wallets. So what we're going to do, I had Pepe on, we're going to take a listen to what he says, but we're going to take a look at the Cardano Explorer. We're going to take a look at the Ether scan. And we're also going to take a look at Ava scan to take a look at transactions, also as well how to verify those smart contracts. So right now without further ado, this is the CTO of Metal, Pepe Blasco. You can take us through a whole thing. How can we trust you guys? People like to come on my show for some reason and lie to me. So how do we do this? It's very important, don't trust, verify. And I think that's what we are going to be trying to do today, showing on-chain data, showing the ideas that we have, and then what are we already implemented to make those ideas happen? So maybe we can get straight to the point. So this is Meltify website, Your Money, Your Way. This is a bank, Neo Bank, Digital Bank, everyone wants to call it, that Melt is creating. And we want to give full transparency on as many things as possible. Internally, there are things that we are doing that we always say like, oh, but no one else is doing this. And it's like, because they don't want transparency. We want transparency. So just a briefing from Ken was here. People can go to Meltify and read all about it. But the idea is once you have your account and once you have everything connected, we will be doing a bunch of things to make sure that the activities that the bank is doing get reflected on-chain and therefore everyone can go on, check the data, why are we doing, what are the capacity of doing things that we have, what money is moving, what money is not, and can't move that money. So just go to Meltify. You can read more about the bank. The example that I'm going to be using for everyone is, we recently launched the early access pass to Meltify. It's going to be coming in the next couple of weeks. In August, we are going to be doing a very slow release. This is Fiat, we can't afford to do things at break. In crypto, some people do things at break. In Fiat, we won't be as safe as possible and we want to maintain security and privacy in Fort Group. So on Meltify, you can get your early access pass. You can apply now. It will request some personal information, some email, some phone number. You will most likely get some double checks on it and we will send you an early access code. Okay, and then Pepe, before we go on, I can already know what is going to be questions. What countries is this available in? So the early access pass is available for almost every country. We are trying to protect ourselves against like sanctioned lists and countries where regulation is clearly going against what we are doing. But for early access, you can sign up in most of the world. And you can click here. There is all the list of countries that we support the phone number for. The actual bank will be released into multiple countries, step by step. The first release we aim at having one person from at least like 30 different countries. So we want to support as many countries as possible, even on the very, very early stages of our release. Got it, okay. So not America, but that's to be expected. All right. So we sign up, what's the steps and how can we get to verify this stuff? So you sign up, you get a single access code in your email and for people who already signed up, we send like 32,000 codes early this week for different people and if anyone signs up, they will receive their access code as soon as we process it. We'll probably take a couple of days, maybe a week. We also don't want to give false hopes for everyone joining that all the first will get your thing, like this is a small rollout. So you get this access code and this access code will give you the capacity to pay $1 and get a hundred gmail and get early access to the bank. So there are a couple of things here. First, mail has always been a cardano-based protocol. We are going multi-chain. We are going into our own mail network and therefore the mail that gets distributed, the hundred mail is distributed in the mail network. However, we are not abandoning cardano. I want to be very, very clear with everyone in here. We are still supporting cardano and that's where we see most of our community right now and based on the data that we've gathered through this week, most of the people have signed up using cardano to pay for this dollar. So this access code, you can go to the mail app. In the mail app, if you don't have an account, you can create one, you can connect your NAMI, you can connect your MetaMask and you have this fancy banner on the right. You will put here your access code and then it will guide you through the different options that you have to pay fees in. And this is where the panicking starts. Like how do we track where those fees are going and how does mail track them and how can anyone in the public verify that we are not just inventing the numbers. We are just not thinking about those things. We are actually building it. So there are a couple of ways, different networks that you can use. All cardano transactions go to this address. This address is held by the mail team in a secure environment and everyone can send transactions here and commit that dollar equivalent for a spot in the mail nearby. So let's get a random transaction. So this one is from 14 minutes ago. We can see who sent this transaction, the UTXOs that were used and we can use the MetaData on this cardano transaction to understand and for us to gather all the information we need for processing this request. So the message is a bound registration, the signature allows us to verify that the user is actually the one creating this request. The reward address, as I mentioned, all rewards get distributed to the mail blockchain. This is an EVM compatible blockchain. This means that addresses there are basically the same as in Ethereum or Polygon and not the same as cardano. So since we can not directly pick the cardano address and put it into the mail blockchain, we have to include the reward address. This is automatically done for everyone in the mail app. In the background, we will pick the same account that you have in the mail app and we will automatically allow those tokens to go into your wallet. And then we have this access code. The access code, as you can see, is very, very friendly to what we have in the email. The reason we are doing this is access, we don't know which networks people are going to be paying their fee on. We are allowing for any network that we support, cardano, Ethereum, Avalanche, and even the mail network. If we have put the access code here directly, people could monitor the network and front-run other users in faster networks. So cardano usually takes 20 to 30 seconds to perform a transaction. The mail blockchain takes two seconds maximum. So if someone were to monitor the pending transactions, pick the access code, and then send a transaction in the mail network, they could basically use all access codes. No one will get the benefit and they will be getting this extra money and all the bank sites. This is why we have cash it with a couple of elements that are dynamic based on the network and the user. I cannot get into specifics because people could reverse engineer, and even though we have prepared everything to be secure, this can still be reused if people understood how it's made. But at the end, this is unique. And this is all on chain and you can find all of this transaction. All other networks, we are interacting with the smart contracts. So in this case, we have Etruscan and we have deployed our contract here and we have verified our contract. So this contract is totally open for everyone to audit, to understand, to take a look and to see what we are doing. So we can see that there is a set piece where we can select which tokens and which amount of each token gets accepted as payment. And this is only available for the admin role. Not everyone can go on and say, I want to accept one cent of USDC. So let's pick a transaction, equivalent there are a couple of pending right now, but for instance, this one. This one is coming from my Ethereum address since this smart contract is verified, we can decode the actual data on this transaction. In this transaction, we are interacting with the contract and we are having this access code. Okay. This one from the other one has, again, based on specific networks and user conditions and everything is transparent to anyone who takes a look at the network. What we do with all of these transactions that have been spread to network is we have a backend system that picks up all events in the four networks that we support right now. We pick up this information, we verify that this access code is valid and that it's been sent to someone and has not been used in either the same network or in other networks. And then we proceed with first, summing them up for the early access of the bug, which is the important part. And second, sending the hundred melt as reward on the mailman. This is done in the mail network, in a smart contract that everyone can also go and check. This smart contract holds all the mail that is distributed. We've set up this amount of mail tokens but we can top it up if needed to afford rewards for more users. And you can see that here we have multiple transactions going on. So this is full in real time and what we can do is, let's take for example, the transaction that we saw in Cardano. The reward address is, let's take the last four digits, five C, eight nine. So we want to go to the reward distribution method and we now need to find, let me double check five C. So if we do five C, eight nine, actually here, that is being sent a hundred melt tokens to this address. So this is totally on chain. People can go and do the full traceability of all the website maps, all the users. And when we go here and go back to the rewards contract, we can see that as of now, 3,500 rewards have been sent. These are actual users that have paid one dollar to be in this early access. There is no marketing tricks around it. We cannot pay this. This is all on chain. If you want to go and check, you can always go there, see the latest number and make sure that the KPIs and the metrics that Mel team is sharing are accurate and you can see it grow. It's blockchain, it's transparent. We are fully open with the community and people can go and analyze the smart contracts. We have a book anti-program that they can check on our dogs in case anything that they find may be having a security issue and all data is on chain. Perfect. Okay, so that's a lot to take in. But I think what we'll do here is, so everybody watching at home, everything that Pepi just showed on his screen, there's gonna be a link in the description. You'll be able to find all his different scanners to go through it, Cardano, Ethereum and Avalanche. So that is the first part. You're gonna need to get used to that if you want to verify these things, right? Don't trust, need to verify, and there it is. But Pepi, here's some questions. And when in the very beginning, and I should have stopped you, but I didn't, sorry, you said, okay, when you guys get this signup code, you're going to say, okay, here's a signup code. You're gonna put a dollar into the bank, which is out of Lithuania, so you guys can do it globally. But when you do that and you put that dollar in, you get a hundred melds, is that correct? What you said? Yeah, so you are not actually putting a dollar into your bank account. You are paying a $1 as a fee for the early signup. So the bank will have free and paid subscriptions. And what you are getting is to get in the line to be the first people that will be able to use that bank either on the free or paid service, depending on how the rollout process goes when everything is there. So it's not actually a euro or a dollar going to your bank. This is purely just on chain. It's not just on any I-Ban account in the bank. Gotcha. So I gotta tell you right now, I think Mel token is up to like two and a half cents. So right there, you're doing pretty good. You get a hundred melds, you're actually making money. So for that one, I get it. And then to move on to the actual contract, the smart contract, did you guys go through an audit already or are you guys going through an audit at some point? Because we've always heard about these, well, there was this problem with the smart contract for some reason there was no audit. So talk to us about that. So our policy is anything that holds money from users is going to get out of it. So the Mel token that we deployed into a Ethereum and into Avalanche was saluted by CERTIC. The report is public and it can even be found directly on interest scan or on CoinMarketCup. We can also leave the link to that in the description. The lending and borrowing system that we are developing for Cardano will also be audited when the release time comes, same as for the lending and borrowing in our Mel network. And something that we also do, for instance, we have a governance system coming in, hopefully really, really soon for everyone that we'll hold Mel tokens. So it's real money, we have audited. Everything that touches real money on chain gets saluted and we have a book bounty program where white hats can get rewarded for finding security issues that we can collaborate on resolving. Gotcha, okay. So then the last thing I'll say is like this, all these links are in the description but at some point you're not gonna wanna go back to this video to verify things moving forward. So what I'm gonna do is like, just what Pepe had talked about, there's a couple of different places that you can go to to kind of just take a look at these scanners. First of all, I like coingecko.com and you can see here that's under the explorers, there's Cardano scan, you can use that. And if you click on this, you can so either scan, Snowtrace Explorer and Ava scan, the same things that Pepe was using. But then Pepe and then also the source code is here for GitHub, the Twitter API ID. You were talking about coin market cap a little bit ago and let me just take a look at Meld itself. Is there a way to, you talked about the smart contract audit. Is it on here or is there someplace else I have to look for that? Yes, if you scroll a little bit down on the left column, you will see how it's static. Oh, I see. Okay. Oh, where I see, I'm on some new today. So we actually have a pretty good security score. It's on the top 10 smart contracts and based on certics opinionated score. I am very, very happy with the result and the work that people have been doing on the team and fun detail about our token and our smart contracts is when you go on chain, we have like a cherry on top for very tech savvy people. All Meld tokens in every network will have exactly the same address. And not only that, but all Meld smart contracts and start with the Meld ID. It's 333-000-333. And then the last two digits aren't used to identify. So the bank sign up is 333-000-333 and B-0 because it's the first contract of the bank. The bank rewards and B-1. This is the Cardano one. So it doesn't count, we could not adapt it. It's the Avalanche and Ethereum one. So you go to Avalanche, you go to Ethereum, the token is going to be the same. We will be deploying to Polygon, buying to Binance, smart chain really, really soon. It's going to be exactly the same address. These are the little things that we do that shows that we care about the tech and what's underneath. Because most users are never going to realize that more users are never going to see that. But it's the cherry on top that shows that we care about the products that we build. Okay, well, perfect. So Pepe, I know you've got a run. So ladies and gentlemen, first of all, I want to say thank you Pepe for showing up because I know you're busy trying to make everything work. We just want to make sure that we're protected and we'll have you back on again and we'll go even deeper, we'll just do a refresher. But for everybody who watched the video, again, links are in the description and you can find out everything from there. Pepe, once again, thank you for stopping by. Thank you Rob, it's been a pleasure. Great, so that was a little bit long but I think it was great information especially moving forward to how we want to do things. Again, if we want to be here for self-custody and rely on ourself, if we don't want to trust anybody we have to verify, we got to do the work. And that's what it's going to take. So I linked every single thing that Pepe talked about in the description and that's there for today. So look, like today's video, give it a thumbs up. Also consider subscribing. Everything we talk about is very time sensitive. That's there for today. I appreciate you stopping by and I'll see you on the next one.