 All right, everybody. So as promised, I wanted to bring somebody in who could really dig down into the app Truflation, which we've been using on this channel now for about a month or so. And I think it's important as we move forward. So Stefan, thanks for stopping by on the show and explaining all this stuff. I appreciate it. Thank you. Thank you for having me here and super happy to be on your show. Yeah, man. This, I mean, this, the website is very easy to use. I think my grandmother could use it and just the interface is fantastic. But we got to ask you some questions to know what the heck we're doing here. So first of all, four questions. Who is Stefan Rust? Then we'll talk about how Truflation can actually help us. Then where's his data come from? And what's the next step for this website and the platform we're building on, which would be also Laguna. So let's start with the basics. Stefan, who are you? Where'd you come from? Yeah, so I've been around for quite a bit. I've been a serial entrepreneur, set up a lot of different types of businesses. I actually got into Bitcoin in about 2012, when I bought my first Bitcoin because a developer on the other end of the world wanted to get paid in Bitcoin. I didn't know what it was, looked it up, and saw that there was a Bitcoin J wallet. And I had a career in Java in my background. And so I was familiar with that and then sort of dug deep into it. I bought my first Bitcoin on eBay using PayPal before it was banned at $5. I didn't think much of it, to be honest. I did not appreciate the value of what it could do until nine months later, that same developer asked to be paid. Can you pay me now? You have to be called. And they go, yeah, yeah, I have it. And I noticed the price has gone up to $300. So wow, that was amazing. And at the same time, then on Skype, I did an instantaneous transaction for free whilst doing a video call with the developer. And so I was sold from then on in. I had a developer agency at the time. And so I just started building out a developer network of companies and individuals that could be building on Bitcoin at the time. There was only one currency. And so that's how I got into Bitcoin was the CEO of Bitcoin.com, working alongside me to some of the real OGs before I set up Truflation.com. So it's not about what you know, it's who you know. If you know a lot of developers and the OGs in the space, now I know where things are coming from. That makes a lot of sense. So talk to us about real quick before we get into how can Truflation help us? How did you come up with the idea of Truflation? Why did you do it? So we saw governments printing a lot of money. Inflation was transitory. I just could not believe that. And I did not, yeah, I just could not believe that. And that was basically the genesis behind it. But rather than it actually being the genesis to leading to the product where we are today, what we did is study inflation. And we figured out that it's a real old system that was put in place. It was built out before, you know, we had computers, mobile phones, internet, etc. But more importantly, it was done on a panel basis. So you did not take a developer approach in terms of using census data across multiple sources, got millions of items, and leveraging modern technology to do that. And it was only when Balaji posted out there on 17.29.com backslash inflation, where he launched a competition to anybody who could build a inflation dashboard. We'd studied it, we knew where we would collect the data from, we had the architectural designs that we had mapped out in terms of how we would do it. And we thought we would make it available on the blockchain. And so that was like a red rag to a bull, we then said, let's build it. And so four of us within a two month period went out and built Truflation, which we then launched, I mean, three months later, pretty much at Decentral in Miami in December last year, which then brought us into version two, version three, which you have now, and you see on the dashboard live today. Yeah, we already used it. I'm going to skip around because I think this is more relevant. So when you talk about, you know, Truflation and how it all got built, I guess the next question should have been, where does the data come from? And what's the next step for Truflation? And then we'll get to how can Truflation help us? So just real quickly talk about, you know, where does this data come from? So we source the data from all these different online sources. And you can see on the website, we try to disclose all the sources that we use for aggregating this data, how we weight it, our methodology. We have basically about 30 different sources of data across 10 million items. And each of those items has to have more than one source of pricing information. And so we actually have at minimum 20 million sources of data that we pricing that we aggregate. Actually, it's much more than that. But we have 30 different sources of data from reputable brands that we aggregate and put together in the outputs that we see in 12 different subindexes. Yeah. And I think that I think that's the big thing is we're talking about this, you know, with Fed Reserve, they're looking at these CPI numbers and it's retro. Let's take a look at what's happened before, which is fine. But I think as you know, time goes on, we're going to want to take a little bit forward thinking, which I guess will be the next question. But before we get to that, what's the next step for Truflation? Yeah. So how do we get into so ultimately, we do only cover the US market today. And what we're trying to do is go into other markets. So how do we look at UK, Canada, Mexico? So we've got a cadence about four countries per quarter that we want to announce and launch. But more importantly, we want to get into the ability to be predictive. We're already 30 times faster than the government reporting. We update our numbers on a daily basis. So that means we're 30 times faster. And if we go deeper into each of the categories, we can see what is influencing each of those categories. And ultimately, we then can aggregate pricing information from those influencers to see how they will likely change the outcome of a price of transportation, of the price of real estate, or rent, or accommodation, etc. And so how do we then actually go into more predictive and into sort of future forecasting based on data that we can acquire? Gotcha. Future forecasting, people building on it, that might be the next step, I would guess. And then ultimately, how do we get people building on it? We had a chain link competition, hackathon, where we rewarded developers to build on it. We had 40 companies build on Truflation.com, ideas that were super creative, all available and visible. And now, Truflation.com, by the way, is available on four different blockchains, a bit of a sales pitch, but that's what we have made available. Well, it's a pretty great sales pitch because also the data is for free right now. That's what I'm using all the time. I'm the paying you a red cent. That's great. So, so, Stephen, that would lead me to the next one. Like we just, I briefly touched on it. So the Fed Reserve is looking retroactively. They're going to talk about a soft landing. Probably not going to happen. So the real question is, is then how can Truflation help us moving forward? So I don't know how it can help us, but what it can do is help identify where new products and pricing is going to change. What do I need to do in order to identify where and how to react, what to do? It's how is it going to help us individually? I think the data itself allows us to do computation that will impact us, right? Is now the best time to buy a new car or will it be a better time in six months time when prices come down? So you can see prices have already come down in the transportation, which is a reflection of your second hand car market having come down significantly with a lot of oversupply as people go back to work. They're using their cars again. They're also using public transportation. They don't need three or four cars or they don't, you know, so that has sort of settled out a bit. Gotcha. So I can see that. I'll be using this pretty much every day. Just to take a look at what's going on. That's why we make it available and we want to then be able to allow you to go even deeper, right? So if you look at transportation, you scroll down a bit, you can then see what how heavy transportation is as a part of the household expenditure. It's about 19 percent. People spend on transportation. And then you can see what the categories are. How can you then click into one of those categories and then see what that what's the constitution of that? So vehicle purchases, net outlay, other what what is in the vehicle purchases is their first hand second hand car and what is public transportation? What are people spending on transportation? How has the price changed in public transportation? What types of public transportation, etc. Crazy. All right. So that's important to know, I think for everybody. So that would be my next one because you've got true flation. But when we were talking behind the scenes, you mentioned Laguna and I don't know what that is. Talk to us real quick about that and what's coming down the pipe. So Laguna basically in simple is is a, you know, we're trying to bring commerce global commerce to the web or to web three, right? I mean, that's really what we're trying to do. How do we do that? And what we're trying to do is on the Laguna blockchain, we're trying to take out fees and friction in transactions. And the way we're doing that is a couple of things, right? We've identified that fees need to be below five cents in order for peer to peer transactions and commerce transactions to happen. That would be nice. You and ultimately friction, we need to take away the fact that in order to do a transaction on any of the blockchains, you need the native token in order to do that, the native utility token in order to fund the transaction. How do we move away from that that you don't need that? Those are some simple examples of how we do that. You'll find out more on our website. Yeah. And then just before we take off, I think this is a big, a big thing story because we were talking behind the scenes about like me as an online e-commerce provider, it's going to be either 1.99% plus 30 cents or 2.99% plus 30 cents per transaction. So take that globally. And we took a look at the different software that's available in India. And it's even much higher than that, which is to me quite insane. So we can drop that below a nickel. That's great. The problem is if we're using stable coins and things like that, which is built on a lot of the times, well, ERC-20 or Polygon or different or Binance Smart Chain or Tron. So if you do all those things, now here's the part with the friction and moving things across. We can do it cheaply on other chains, but sometimes a user may say, well, I'm on ERC-20 and I want to transfer another chain and then it's gone. So if we can do something like this and knock that down to, because we all know the gas fees are astronomical, but take those from five, six, seven or $20 at the height and knock it down to a nickel because we're using these different chains, that would be just like how it was in the old days when the cell phones came out. And they said, hey, do you have AT&T like Verizon? So it's a little bit different. Now, no one thinks about it. It doesn't matter because that's where we have to go. And that's really what we'll bring about global commerce and we'll hopefully recover and take us out of this negative economy and recession that we're likely to enter into. This is the time for building. We're going to be building. We have a very clear vision of what we want to do. How do we make a lot of this possible? Yeah, excellent. Well, man, Stephen, you've said a lot. I want to say, first of all, thanks for stopping by. Everybody, of course, you can find app.trueflation.com in the link in the description. Use it at your leisure. I'll be talking about it a lot, especially as the CPAP numbers come out. And that is it. Stephen, thanks so much for stopping by. Thank you, Dan. Thank you for the audience for listening and taking the time out to hear what I have to say. Excellent. All right, everybody, let's jump back.