 Thank you so much for coming, really appreciate it. I think this is going to be a really fun workshop. I'm actually delighted with the exact number of people. We were talking about this before, and we want to go deeper. And this is going to be a good number to go deeper. My name is Amanda Cassett. I was the chief marketing officer at consensus for the past three and a half years. I have recently moved to focusing on blockchain use to work projects in depth. Because I think the next wave of adoption is going to come from building products on the blockchain that people actually use that solve problems. So that's a laser focused one right now. But this presentation will definitely draw on my experience. And the workshop hopefully will let us all kind of talk about how we tell our stories, and optimize it, and come together as a group to give each other feedback. But don't worry, I'll leave made up stories in this month to be a real story that we'll be welcome to share and talk about just starting up for yourself if you don't want to. Riley, do you want to introduce yourself? I'm Riley Kim. I am the Agents' PR for consensus. Based off of Singapore, but I cover the Agents' region. And this is the next opportunity to plan in a manner with a group of people, in the century, in the new century, and then we get, like, means for Asia moving ahead. And if that's interesting, your stories for Asia, certain countries that they hear about, that's great. So we're going to kind of go through the history of the Ethereum narrative through the lens of the media, East and West. The present stories that are on people's minds, and the opportunities to plan and discern the kinds of narratives of the future. And we're going to break into smaller groups, and we're going to brainstorm pitches for the media. They don't have to be real pitches. They should be pitches for Ethereum startups, or Ethereum, or Ethereum projects. And we're going to get back together as a group, and we're going to pitch, and we're going to workshop pitches. I think it'll be really valuable, and if you have a project or an idea that you are looking to sharpen your pitch for, this will be a great moment to do that. First, can we get a sense of where people are from? Who here's from North America? So a lot of people, who here's from Asia? Well, it'll still be interesting to hear. You wrote, uh, Rest of the World? Rest of the World? Where, where are you from? Oh, it's France. Oh, France. Okay, okay. Who has worked? Who has a project or work in Asia, even if you're in Asia? Yeah. Great, well, so when we talk about Ethereum, who is listening to us? The first thing when creating a narrative is thinking about your audience. Here are some facts about the audience for crypto and blockchain, as it exists today. Americans have heard of crypto. It's pretty saturated. 81% of Americans have heard of at least one type of cryptocurrency, according to a U.S. poll. I believe that. But Ethereum name recognition is lagging far behind Bitcoin. 75% of adults in the U.S. have heard of Bitcoin. 24% Bitcoin cash, which I don't believe, by the way, because I think they just answered Bitcoin yes and didn't think about Bitcoin cash. So have to think about all these big founders. And actually what we're doing in this workshop is thinking about how people think rather than thinking about the facts. So this is a workshop about perception, not necessarily a workshop about facts, although sometimes you have to create facts for real in order to create narratives that will work. Or, you know, usually. But, so 24% Bitcoin cash, which I think is actually more like 1% and 17% have heard of Ethereum. So that's a big gap between 75% and 17%. You've got a 75 on a test versus a 17 on a test. Those are two really different options for you. So then we tend to think about adoption, perception, narratives, so much in terms of the U.S. market, but there are all these metrics by which Europe and Asia are out basing the U.S. Even if the U.S. and the English speaking market is the one driving the global news cycle, which it mostly is. So 41% of blockchain and crypto deals in Q2 2019 took place in Asia, 34% in Europe, and 28% in the U.S. with, yes. It's a definitely deal. So I can send you the PwC report. So this is any kind of funding activity or an acquisition. So like an M&A or venture funding. So according to these metrics, the U.S. amount of investment by several metrics is on the decline in comparison to Asia and Europe. I don't know whether that's always going to be true or whether that's incredibly significant, but to think that everything is about the U.S. market just because the English speaking market is defined in news cycles just isn't true. So the audience is truly global. I think if you asked people where they thought the densest adoption of crypto was, maybe they'd say like South Korea, maybe they would say the U.S., but they wouldn't say Turkey, Brazil, and Colombia, but those are technically the densest per capita adoption of crypto today. So who is the audience? So in my role as a consensus in the U.S. market team I always spend a lot of time identifying who the people are that are searching for Ethereum that are interested in this space. And these aren't all of them, right? There are a lot of different people. If this doesn't have humanitarian organizations and NGOs on here, it doesn't have really small groups of people on here. These are just kind of the macro. The biggest group is crypto buyers or potential buyers and they're looking for market signals. They're looking at the price. They're trying to figure out what to do with their total lengths. You have tech enthusiasts, so they're staying up to date on new trends in the industry. Maybe they're also researching machine learning, robotics, space travel. Maybe they follow Elon Musk and TechCrunch. Government officials are looking to form opinions on emerging technologies. Is this risky? How should my agency act regarding a new technology? Tech professionals, what kind of way should I upscale myself? Do I have a potential new job in a different kind of industry that I can get? Business decision makers. So that's at all different levels of an enterprise where I'm a startup. Is this a new way to make money? Could I make new kinds of partnerships? Could I integrate a new kind of technology that would make my business more efficient or that would allow me to sell something new? Entrepreneurs, what kind of company should I start? What kind of company should I join? Startup investors. Whether they're ready to enter the market or not, they're thinking about investment targets. And then news consumers end up hearing about Ethereum, blockchain, Bitcoin. If they just read top global news stories, but they only hear about Ethereum rarely. So they just get these couple of little touch points. So this is a reality check. This little presentation is full of sort of real life stuff. And I know at DEF CON, we tend to be very idealistic and optimistic. And I am incredibly optimistic about Ethereum and about the space and about this community. But I think it's important to recognize most people searching for Ethereum care about price. Period. Full stop. That's just true. It might not always be true, but it is true right now. And if you look at the numbers, they'll make you cry over time. And if you didn't believe me, this Google search volume for Ethereum chart maps onto a certain set of activities in 2017, a certain set of facts. And you can see that more people are looking for Ethereum during the moments when the price was in the news for being priced. There were other news stories about Ethereum during that time. Those were often connected to the fact that the price was increasing, which was driving other news covers. There was a flywheel. And so I guess the point I'm trying to make with this is that the news coverage about the price increases genuinely brings more searchers into the space, even if you end up capturing those searchers and funneling them toward doing something else. So just because people come in for the price, they'll stay for the price. You know, they might come in for something and you can convince them to be interested in something else, maybe. We have it again. And then just to put this in perspective, as I think having perspective on all of this is really important. So this is Ethereum versus Bitcoin. The search volume, remember that 75%, 17%. 75 on a test is a C, 17% on a test to get out of town. Yeah, that's where we are. So what have people heard about Ethereum so far? Well, mostly nothing, but that's an opportunity. There's that story in marketing about the marketer who goes to represent the shoe company and put it in a sent to a village where they're thinking of opening a shoe factory and the marketer reports back to his boss, they don't wear shoes here so we can't work open a shoe factory. The other one says they don't wear shoes here, let's start a shoe factory. So the fact that people haven't heard about Ethereum yet or only 17% of Americans is an incredible opportunity and a clean slate to educate people about Ethereum, which is amazing because sometimes we think of Ethereum or crypto in general as having a negative perception from all the different market cycles or from the ICO boom, but most people just have no perception at all. So it could be a good thing. And this is a quote from Matthew S. Bloomberg. We interviewed a bunch of journalists creating this presentation, so we sort of reversed interview them to be able to present, to use straight from the source what journalists are saying and what they want. So Matthew Seng has been covering this space for years since 2016, the same year I joined this space at Bloomberg. And he wrote, I'm not sure that he said to me, I'm not sure the public knows about Ethereum at all but I explained the book I'm writing. I always have to start with Bitcoin and most people say, sure, I've heard of that. Ethereum is the next level beyond what Bitcoin can do. So there's nothing, there's no narrative now for a vast majority of people but this is enormous opportunity. So here are the journalists that I interviewed and then we'll go through the points from East, which Riley interviewed, the East of our world. So Matt Lee Seng from Bloomberg. Laura Shin from Unchained, who used to work at Forbes. Bob Hackett from Fortune and Fortune's spin-off, that's an internal publication that specifically covers crypto blockchain called The Ledger. And that's Bob Hackett, Josh Quickner, who started Decrypt, and Lee Keown from CoinDesk. And these are really different publications and we're gonna talk about that a little bit. So Bloomberg is a business publication. So if you send Matt Lee Seng a pitch about a startup that's doing its first product launch, that's not the right thing. But if you pitch Matt Lee Seng about Microsoft, it incorporated the Ethereum blockchain into 100% of its tooling. Yeah, that's a Matt Lee Seng story. Laura Shin, she has a podcast. So she's not gonna cover, she's not gonna cover like a single kind of daily news item scoop on a podcast. She's gonna bring someone on to have a thoughtful conversation that takes a long time about an issue that's in the news these days. So it's going to be someone, so she'd have someone on speaking about D5 as a concept or speaking about Ethereum 2.0. But she probably wouldn't have someone, she wouldn't cover the latest release of your debt, even if it has a ton of users. But I'll have it, what? He would love to cover a story about usage and same with George Quitner from Decrypt. They both would cover, and so would Lee. All three of those would cover more of like a daily breaking news kind of story. Decrypt also does deep dives. And actually all three of those sort of deep dives. I would say that CoinDesk can be very critical. It can also, I mean it's also one of the best known industry publications about blockchain and crypto. Decrypt tends to be more positive about blockchain and crypto startups. But it has a pretty high barrier to entry to get coverage there. And then the ledger, same thing, because they're part of Fortune, they're a little bit more interested in the business side, as opposed to like the culture and the community. They probably wouldn't cover that fatality or a cat t-shirt. They wouldn't cover gossip from the community. They'd cover online business news. Whereas CoinDesk sometimes really covers gossip, which is interesting, because they're often, because they're all really different publications. And when you're thinking about telling your story to a publication, it's not like you have a fixed story and just blast that out to everybody. You think about what they do and what they want and you tailor how you communicate with them and how you tell your story to them based on what's actually up with them. Do you wanna talk about the... So for Asia, Asia's quite different. The Media Landscape, because it's almost by definition in a different stage of maturity compared to the West. And by West, it's largely U.S. and Eurocentric, so it's actually London, which is English, which comes to the point of language. One main thing that we really notice when reaching out to all of the people in the region is it's quite fragmented. And part of it is because of language and language is national. So if you look at someone from a couple of times, basically they'll be interested in anyone and it's stories that it has national alignment or national interest. For instance, if some sort of good news something, I wouldn't pitch that to the temple in Taipei. It has to land with the country. So their interests, as opposed to what Amanda mentioned, there are different layers when you look at media in the West or internationally media, like global versus decrypt versus quite as... In Asia, it's largely still national. So if there are stories which are transnational, then perhaps it could go with some kind of global. It tends to have a regional view of how the Asia trends are. With these guys, however, with the crypto media, however, it has to land in their own backyard. So that is something that will come. Because this ties back to language and I'll dig back to that later. So I'm going to go through the widely known Ethereum story so far. And this is coming from the English-speaking market, but it's global. Because a lot of what people read in San Japan is going to be from, let's say, coin desk or framework. And it's going to be translated over. But, and then after that, we're going to go into how they specifically, the media coverage is different by region. So this is not the story of the most important things about Ethereum according to this community. These are the things that passed some kind of activation threshold where a lot of people ended up knowing about them. And let's keep a lot of people in perspective because that's within the 17%. So these are the things that registered in the global consciousness among that 17%, which is probably a lower quote but that's just for America. And this is according to the journalist we spoke to. These were the ones that they all mentioned as kind of 10 full moments. So Bitcoin is emerging in 2009 as a niche really big leverage as the price goes over $1,000. Then with Silicon Valley funding, wallets and exchanges for Bitcoin, then the Silk Road scandal in 2011. And the Silk Road scandal and Bitcoin hitting over $1,000 blew open the Bitcoin space but not even that blown open. Let's keep a 75% of perspective too. So the early days of Ethereum, the things that all of the journalists we talked to agree registered with Vitalik's identity. So the fact that he was 19 years old, really registered with people, his persona, his story. So you'll see in a lot of the initial coverage this sort of whiz kid narrative. And journalists are trying to tell stories about people because people tend to be interested in people and stories about people tend to spread and medicate a little bit more easily than stories about ideas. As a Bitcoin alternative, social good potential was covered a lot and that's something that the kind of PR and marketing industry was successful at early on telling the story that it was going to help people. And we can talk about how that maybe was a problem in a way in the end. But talking about the social good potential then the Dow hack, right? So that was, I remember I was at a barbecue and I was with this guy and he got a text from his mother saying, is this the thing you work on? Or is it grandmother? Grandmother. Grandmother, grandmother saying, is this because it was on the front page of the Wall Street Journal? So, you know, there's a theory in there. That happened. We're talking about perception, right? So we're only talking about perception. This is so frustrating for people that are deep in the community. This gap, but this is what registered. So then this rapid growth moment. In February of 2017, the Enterprise Ethereum Alliance launches, super significant because now you have these big corporates that are co-signing theory in a way, saying this is something worthy of exploration. And I'm giving it some more legitimacy because even though we have this young, genius, metallic story, it lacks that kind of gravitas co-sign of some of these big names. Then we have the ICO boom. We're hearing about token fever. We have CryptoKitties jamming up the Ethereum blockchain with Overuse, which highlights the need for scaling. And then we start having competition for L1. So you get a certain billboard in Times Square. You get a lot of projects positioning themselves as Ethereum killers, which is actually just great for Ethereum on SEO. You know, L1. So, yeah, so you start having that kind of narrative. In 2018, 2019, in a period that I'm generously terming the calibration, regulatory activity is getting started. So you hear about SEC enforcement. You hear about CFTC. You get a market contraction. You get the rise of something called DeFi lately. And you get some really interesting enterprise activity. You get Facebook, Libra, Calibra. You get JP Morgan coin. You get Ernst & Young, which registered for adopting public watching. So those are some examples of stories that registered. I think those are really the only stories that registered for most people that were within the 17%. Within the community, we know so much more than this. But these are what everybody that we talk to among the journalists is agreed on, really kind of broke through. And this is just a reminder that sometimes stories don't do what you think they do. So this is from Bob Hackett, unfortunately. The Dow Hack gave the Ethereum name recognition kind of like any price is a good price. It was an early test of Ethereum's resilience. And let me explain that a little bit. So you have Ethereum Dow hacked on the front page of the Wall Street Journal. And you think that is a bad negative word. So that's bad for Ethereum, right? Not necessarily because the fact that someone hacked something means that there was something valuable there. So it seems like someone was trying to get something. The amount of money is a high amount of money, so it makes you pay attention. And there's this word Ethereum that's picking up SEO juice because it got that big front page story, which means something else that Ethereum does more likely to get covered. Because the journalists who are incentivized by trying to get traffic to their content are going to want to put this Ethereum in a headline more than they did before. Not that much, right? 17% but more than they did before. So if you want to tell a positive story about Ethereum, you're going to have a higher chance of being able to tell a positive story about Ethereum after Ethereum Dow hacked. See, does everybody get that? But it's in the moment, especially if it's your project, you're like, oh my God, this is bad. And sometimes it is bad. Sometimes bad press is really bad press. But there are just all these nuances to it that are really important to think about too. So you'll notice that right now, there are certain kinds of stories that are told a lot about blockchain and crypto and Ethereum and certain ones that we talk about in the community all the time that aren't. Wires and stories told and self-stories not told. Tall stories, funding, sales, acquisitions, token prices, regulatory actions, prominent individuals, prominent companies, user numbers. Untill stories, the fact that we've been building this whole time with so much enthusiasm, despite the market contractions, that's not a very widely known story. That at least in my opinion, US regulators have taken a really thoughtful and nuanced position on Ethereum and Bitcoin. It's not like there's some big smackdown. It's actually been a really thoughtful conversation. And then people associate all crypto with crime still because of silver. And the best way to fund crime is still cash because it's truly an anonymous currency. So the association of crime with all cryptos doesn't always make sense and comes from just the types of media narratives that have broken through and formed kind of false associations. So what do these told stories have in common and what are these untold stories have in common? So these told stories have properties that make for a headline that's going to get clicked on a lot and that's going to get shared a lot. So the names of prominent individuals and prominent companies can be put in a headline that's going to get the headline SEO juice or it's going to be clicked on more. Regulatory actions, you know, if someone's cracking down, the SEC has a big SEO name, people always want to hear kind of the juicy gossip or what went wrong. User numbers, that can be a really big positive. People want numbers. People, journalists love putting numbers in headlines. Like the number is just such a consistent thing because they want to journalists care about conveying the fact that they're bringing new value and delivering information and the fact that they can take a number and tell it to you is a way for them to be delivering value and those stories tend to share more. Funding sales acquisitions, those are really concrete facts and I think right now journalists in the space are scared to talk about anything that's not super concrete because there's so much stuff that wasn't true that they got sold on a couple years ago. So what stories will we tell about a theory in the future? This is just a global perspective. This is what our journalists say that they're looking for that we spoke to. So one thing that came up was the growth of DeFi, decentralized finance. So, ReQ and Census, the ICO boom, this concept of decentralized finance has really taken off. But, Matt Leasing was skeptical. I don't even know what DeFi means. It feels very buzzwordy to me. I think it's just a paradigm that people are creating to escape the Bank of America. So then prices and numbers matter. So Josh Quittner's saying, you know our readers really care about the price, making the theory better, bigger, and more popular. And so real users, real problem solving, which gets back to the theme of numbers. Numbers are evidence of some sort is important. You need to explain the facts and statistics why. The other thing that helps the journalists understand is make sure they understand the problem and how the thing is going to solve the problem. A lot of times she was saying blockchain projects seem like their solutions in search of problems. And then people want to cover Ethereum 2.0 and the roadmap. The scaling of the technology and getting it to work. Work well will define whether or not we end up needing to talk about the Ethereum L1 competitors. So unless this scaling in 2.0 jam works out, and we'll end up needing a perception, that's going to define whether or not a bunch of other L1s become major topics of conversation. This is stuff that journalists say they probably won't cover right now. So ideas are future plans without some kind of factual, rounded or numerical power. So this is something I go over at a near-hotel of me, which is making me laugh. I've learned from covering this industry since 2017 to ignore the ideas and just focus on the money. So another one was, I love Josh, Josh, with her. Everyone is hungry for bacon, not sizzle. People don't want to cover another blockchain startup unless it's weird or different. People don't want to cover yet another enterprise press release. Lob used to cover every press release you got of transitioning a back-end process to a blockchain. Now it's so many releases that it's boring, so we won't do it. And then, like we said before, people don't want to be pitched the wrong story for their outlet, and if you spam journalists with pitches and aren't right for them, they'll remember that forever and they'll cover you. Because they just don't like being bothered with that stuff. You know, they get damaged. That's my least. So I think just to keep things off, that's always the issue of Asia. But the problem is how do you define Asia itself? Right now we are in Asia, but if your first visit was in Japan, it's going to be very different if your first visit was, let's say, Singapore or Malaysia or Thailand or China, or even parts of China. And that's the sort of situation. It's a reality that we deal with, but we have to dissect it somehow. So if you look at the definition, you often get these talks around a lot, Asia Pacific, which has conventionally covered Australia, which sort of covers the Pacific Ocean. The term itself Pacific comes from the Pacific Ocean, and I got this little chart. So around the background is actually how the CIA were affected to look at Asia, which sort of touched on Russia via North Pacific. Now, in the past seven, eight years, we start to see the term Indo-Pacific comes up via the Indian Ocean. That has sort of a geopolitical hint to it because of how India is coming up. Sorry. So that's where the word Indo-Pacific, we may see more of it, but it really depends on how the Chinese language plays out. We probably see the word East Asia quite frequently and that translates generally speaking, Japan, Korea, China somehow, and then Taiwan as well. And then there's the North and South Asian divide. North Asia generally, you know, China definitely in it. South Asia generally, India, Pakistan, and South Asia. And then South Asia comes around a lot as well. This is some of the most dense, most culturally diverse. It is, I think, biologically the most culturally diverse place in South East Asia itself. And we have the ASEAN, the Danesian bloc. I didn't even touch on West Asia because that's really not in the imagination, generously speaking. West Asia sort of touched on, I would say, East Europe, but that space is kind of forgotten. Maybe there's opportunity. We don't know, but we have to start from some kind of departure. The best way to approach I feel would be looking at the region as a whole, via the economy, the state of the economy, the state of how their market is. Generally, we look at it by advance of developed nations and once they are still developing, and what does this mean for your story? Now, advanced economies tend to be the ones that this year, Japan, Korea, Hong Kong, Taiwan, Singapore, China, it's, I would like to explain that because there are some, a lot of qualification. It is largely still developing, but definitely, as we all know by now, a huge growing middle class. The common things with this nation is they're very familiar with financial instruments. They already have records of savings, they know about trade, they know about debt, they know about credit cards. The question becomes, from Ethereum, from blockchain point of view, what's the catalyst for that? If they are in it for the trade, what's in it for them from the story point of view after just trading? If all they know is, you know, when they talk about Ethereum, when they talk about blockchain to them, if all they know is prizes like what Amanda coined out, what's in it for them after this? One thing we will ask for this, developed nations, when I speak with a lot of them, it's all about compatibility. Because this is a mature nation, by default, their infrastructure is really quite mature. If that is the case, where does your story come in? Where does your product come in? How do you come in? What sort of solutions are you bringing in? Are you being disruptive in a good way? Are you seen as disruptive in a bad way? This is inherent, we are in Japan right now, and I think this is something you guys might have experienced. Japan is a very interesting case across Asia, because they are extremely, I would say, still culturally loyal to cash. Amazing convenience machine all over the country, that you can use your coins, which I'm sure you have a lot right now. It's really good, I really love their convenience machine. One thing I ask, why is this, why is there a stickiness with cash? And I didn't think about it, but Japan is one of the safest place on the planet. You literally could lose a wallet, I don't know, $1,000, and then it will be returned to you, provided you have your ID card. That probably won't happen in a lot of other places. There is this trust element that is very inherent here, and it's something to think about when you think about the concept of trust, because that's inherent in blockchain and Ethereum as well. With South Korea, neighbors to Japan are a bit of a tension going right now, but they focus much more on the ease of use. So again, when you think about the infrastructure they have, how are you going to be compatible with that? Singapore, where I'm from, so post-war rapid growth, we are seeing a bit of a generation gap, because the nation has really grown in three decades, become first world. There is a gap between what we call the elder generation, but not that familiar with the internet. How do we get that on board? If your product is going to really serve the masses that some products claim to be, how do you reach them? We have to talk about that. China is the one I put at straight term. You must have heard of which. By now, TikTok, these are Chinese products, and they are miles ahead from that point of view due to near-universal adoption. Just as a fun fact, the government of Singapore is actually very impressed by how China has gotten pretty much cashless. It's something that the Singapore government is trying to catch up without leaving people behind. On to the developing nations. These are the ones that we kind of more or less define them as. Most of them, like in the Southeast Asian vision, in Malaysia, Philippines, to the largest market, Vietnam has somehow become the new China because of it. It's becoming the deep place to go for manufacturing, as labor cost rises in China. Production is moving to Vietnam. Thailand is becoming more interested for blockchain. I'll touch on that briefly. Malaysia, Myanmar, and then for them, as opposed to the previous slide, where we talk about content in different ways. When we talk about these developing markets, for blockchain, we often talk about the word financial inclusion. You have to remember for this market, financial inclusion really matters because a large portion of the guys who are banked, what we often say is underserved, they don't have an ID, they don't have a bank account. This is what really matters to them. In some cases, I won't say it's life or death, but it makes a huge impact on their communities. And from that, you can tell me what the government think of in terms of why do we want blockchain in our backyard? Because it helps with education, it helps with upscaling them, and it brings them up to speak with the rest of the developed nation. This is the sort of point that is really important here. I will hop on this a little bit more because when we talk about financial inclusion, does it matter to me if I'm a Japanese citizen who've already been fighting against me? I don't really need financial inclusion, but if I'm in the Philippines, I'm in the rural island, I work with the community bank that is a plug into the system, I need that. Do you have in the developing markets some of American knife question, but do you have like cell phone model and coverage? Yes, so broadly speaking, I would say in, where it depends though, it was still, again it's so diverse, it depends on where you are, but as a broad stroke, most of the developing markets, they will have more cell phones than bank and I. So that's the opportunity we come in from, in the net economy. And there's a certain level of smart phone that's the dominant? Android, cheaper. Right, but at what level? At a penetration level. I have to get the stats for you, but I would believe, it differs by country, but just often it will probably, 70 to 80% versus the actual number of users who don't have a banking account, that disparate phase. I can't get it for you then, definitely, it's very, very clear. So again, we come back to infrastructure. So for this countries itself, it's all about the opportunities to plug the gaps in their largest, some of course, just some general statistics. Indonesia is an interesting one. They have sort of always been, Indonesia and Philippines, there's always been the go-to market to test for countries that are starting up shop in Southeast Asia, when they want to draw out startups. So for instance, partly it's because there is so much gaps in that infrastructure. So if your product can be compatible, can provide a good service, the adoption is actually very swift. Grab itself effectively, displace Uber out of the space. So that's how fast the adoption can be. Philippines is something, I can talk a little bit more about, maybe not right now, Project IdoI is something that concepts us, what's going on with the United Bank of Philippines? The, I would say the thesis behind it is financial inclusion. Philippines is one of the nations that has about 10% of the GDP come on remittance. And if they rely on the existing service of paying up to seven to 10% of fee on remittance, that's really not something that's helpful for them. If you're able to bring it down to 5% or even lower than that, that's the impact we're trying to create. So if you Google Union Bank IdoI, you actually see a lot of hits and we're very happy about that. Thailand, so this is the one that's kind of interesting. We haven't really had a lot of caps on that, but again, if you Google it, you'll see a lot of new legislation coming up just this month. So I would sort of look at it from just do a track to tackle Asia is where are you and what's the problem you're trying to solve and what the road belongs to. I can't cover the whole of Asia. That's impossible. It's about four by six billion. But we're gonna just focus a bit more on East Asia by definition that we are here in Japan. I don't touch on Japan really quickly. So right now it's an exciting place to be. So next year obviously some Olympics is here. Earlier in this year, the G20 Summit was held in Osaka as well. They talk about the Japan Prime Minister, so they talk about digital trust, the digital trust economy. They expect really a lot of things to come up from the digital economy. As a country itself, Japan has somewhat been interesting because post-war is really successful. Household names soaring to Panasonic. They have sort of fallen behind a little bit, including gradually where K-Pod best really taken over the stage. So they are aware of this. The banking system in Japan has very aggressively looking at exporting, partly because of demographics in Japan. Like most other developmentations, it's aging, they need to look globally. So you have to think of that when you're thinking of, if a product is something that doesn't financial services in Japan, how does that come into play? Sorry, I have to get two of the matches that are cancelled tomorrow. By the way, on to South Korea, just as a fun fact for when things are, if you're familiar with the boy band BTS, but apparently they come for 4.61 million of the country's GDP. Just so you know how impactful South Korea is. So if your startup is a boy band, it's like you're a boy band on ITV. Again, just to give you a bit of context, that puts them in the space of Samsung and Hyundai. That's a sort of place where Korea is right now. So when we look at, when I look at some of the statistics when we work from consensus on this, we get a lot of hits from Korea. We get a lot of news. Every other week, every other day we see something coming out of South Korea. A new development, sort of a new startup. And it's an exciting place to be honest. Now on to China, which as a region is a bit trickier. I labor it by language and state. Where the China, the Mandarin speaking region, obviously that's Mainland China, Hong Kong, Taiwan, to some degree Singapore by language state heritage. So this space itself is a bit different. Let's start with Mainland China itself. I mentioned earlier with WeChat. With China, I think, actually I think I'm going to slide. Sorry, I'll do this in the next slide. So this was actually a photo I took when I just came in from Seoul, Tokyo, at a shop I wanted to have udon. They did the cake, my credit card. It was a good thing I have cash though. It wasn't very expensive, but that's when I started asking around and I found that it's just a cultural thing. Because it's such a safe nation. If you lose your wallet, you will get a lot of money. Earlier on, I showed a group of very good slides about the Dao hack. I asked around about the Dao and the mall blocks. Apparently it wasn't really a thing. It's back in the news again just by location, but it's actually not in the public imagination of the thing. The other interesting thing that we mentioned, that I mentioned about Tokyo 2020, let me see if there's anything else on the complicated wallet line. Okay, I think I'll do it here. For Korea, yeah. What I mentioned, let's just give cash. As opposed to Japan which exercises quality of service, Japan is very, I would say, culturally perfection is important to them. So I think from the blockchain point of view, you know, blockchain has to be smart contract audits. So in Japan, the tolerance level for errors is very low, so you have to think about that. In Korea, it's a bit different. There are much more concerns with efficiency. Let's give cash. This code itself, why do I have to unlock that key, my key, versus just swapping. My card came from a journalist at Korea Times when we were talking about it. And it kind of makes sense if you think about it. Again, if I'm already in the development nation, I have a number of credit cards, I have a, if I use an iPhone, I have a digital credit card to sell. What makes it compelling for me to not use that and use some sort of blockchain-enabled payment system if I have to unlock it, key, my pin? We all talk about the inability to remember your child faces. So this is something to think about again if you're looking at something from a consumer point of view. I'm not sure what you're familiar with, tribals, that's the family, traditionally family-run conglomerates. So the, and I would say the economy is largely driven by this culture of conglomerates, the Samsung, the LG, the Hyundai. For them, these are largely conservative, traditional family-owned businesses. They wouldn't be as risky as a lot of other countries, a lot of other companies in other countries. So that's where we start to see a culture of them promoting and public startups. What this means is they may not want to actually do it themselves. They're happy to find partners to fund, and it's something that they can partner with. Clayton, I think I pronounced it correctly. Clayton is something that came out of Kakao. Kakao is basically the platform, the way that China has been checked. Kakao Talk is the platform for software. Obviously you have Line, you have Telegram, but Kakao is basically it. So this is one way that a big company comes on board, not directly in their department. Perhaps it's a brand and risk management profile, but it's just something to think about if you are going to work with these companies. And to some extent, if you can partner one, it probably gives you a lot of knowledge because they will have mass confidence. Again, a lot of news around the existing financial system we've seen a lot of news from Samsung, HANA Bank, LG itself. And again, on to the Chinese in geographies. I want to go back by specific region. For China, let's do that first. China itself is, I don't know where to begin. That's why I spoke to a few journalists. And we can look at it by theory. The first still cities, Beijing, Shanghai, Hangzhou, Shenzhen, and then the second one with Nanjing, Seattle. Chengdu is the one that's not mining because of geothermal energy. But I would say with China, it's a tricky one for interior. Partly because I'm sure you guys will have the 2017 ICO ban. And when the Chinese government does something, the Chinese government does something. And effectively, what happened for? What happened previously? Ethereum was pretty much known as a good education platform. So universities government was exploring it. But when the ban happened, they sort of played conservative. They didn't want to talk about Ethereum. It became an opportunity for hyperledge of fabric. So universities governments are actually more experimenting on it. Just as a fun fact, we did a hackathon in the country representing another country. I probably wouldn't go to the news. They were surprised to see the number of people using Ethereum. What I meant was the developers in China had a hackathon. They was about 90%, 90% I believe did it on Ethereum. And the local representative was a bit surprised because of how evasive the conversation around fabric is for the business side of things. So I think this is something we want to be aware of representing the Ethereum community. I asked about what's for them moving ahead. The conversation that Amanda mentioned, DeFi from the developers front of view, yes, they see the wider financial world itself. The media, however, they are sticky about price itself. Again, so this is something you have to deal with. We have to look at it from that as well as where we are. If the ICO back doesn't move and the conversation is still around hyperledger fabric for enterprise, where do you come in when you represent Ethereum? With Taiwan, however, it's a bit different. Although obviously there's no exchange, Ethereum seems essentially very likely. And I understand part of it is the job. Kudos to the foundation. Vitalik has been very active there. What Amanda mentioned earlier in this, I would say about 2015, 2016. Vitalik probably is still seen as a prodigy there. Everywhere, yes, in Singapore as well, yeah. So when we talk about blockchain, they tend to equate it with Ethereum. That's good. It's actually over a bit hard. So when we talk to the developers, they equate it quite strongly with Ethereum. Most of them, most of the developers, they are pretty familiar with the programming, the smart contract. When I ask a little bit more, I get a sense that everyone knows it, but no one knows the depth of it. They know it at the superficial level. Everyone can say that. Once beyond that, shorting, sidechain. That's something that's a gap itself. We see that again. Something that you guys should know as well. So when I look at it, when I ask the question, what about moving ahead? What are the stories you see? They're starting to say there is a sense of, I guess to put it frankly, in patient, they are waiting for 2.0. And they want to see what's gonna happen. When it was when live, they obviously will be curious to experiment. They are all basically asking, we are already familiar with smart contract. What is next? They are waiting for 2.0 is what I'm saying. For Hong Kong and Singapore, financial trading, for them, the main thing I would say is, largely similar to Japan and Korea, already very developed. Credit cards are bound. People are familiar with trading. Digital banking is something that's fairly new in these two markets. So earlier this year in Hong Kong and in Singapore, the central bank announced that they will be issuing what we call internet or digital only banks. In some regions we call them new banks. It's something that I believe is very new in these two markets. The idea is that this will, digital banks will be able to challenge traditional financial banking. So the interesting thing for them is, you don't have to come from, your Genesis doesn't have to be a bank to apply for this license. You could be Uber for instance. You could be a telco. And it's interesting because Uber telcos, by default, they already have a large following. And they're forcing the traditional banks to basically make changes. This leads to the question, where would Ethereum be when we talk about the future of money for financial trading hubs? We already have a transfer-wise revenue, pay now, pay live, something that's paid in Singapore and across the Southeast Asian market as well. So these are certain pillars you should think about if you're tackling this market. This is something I don't really call a country, but really by the fact that they share a common language, largely. I sort of covered the three main regions I want to cover for East Asia. And I also want to sort of, I guess to bring you back to where Amanda started. Now, when we talk about Asia, when we talk about stories itself, it's very linguistic focus, it's very national focus. And the reason I'm brought on by Amanda, and thank you so much, was when we were thinking about this topic itself, when we look at it, we all speak English, but what about readers who are based in Japan or Korea? And they could only, let's say, contact with the other language. What would they be reading? Obviously content from, you know, CoinDash, which I believe June is here, CoinDash will be translated and it gets picked up. But what happens to content that's truly local? If I want to represent the Korean market, if I'm a journalist, I'm hungry for Korean-only stories, where do I begin? And where are your opportunities? Early on, Amanda had a good slide that talked about the tempo moments. Again, when I asked about it, Ma Gok's Dao really wasn't in the public memory. Even now, when I asked editor at D Street, there are crypto media in Korea, he was showing me how things rank. It's basically all Ethereum, 2.0, Vitalik. Dao isn't even up in the top five. This is what he told me. This is what he told me. I can't be sure, you know, I do speak Korean. However, I would still say the influence of where news come from in the US is still interesting because when I think about what happened in Asia, when the Ethereum popped into our public imagination, this tree years 2016, 2017, 2018, we all know what about 2017 and 2018. So 2016, two things happened on the global stage that affected how Ethereum was covered and how blockchain was covered in parts of Asia. These two things are, do you want to make a guess what these two things are in 2016? Anyone? Hi, heroes. Not quite, that's more 2017. So 2016, two things that happened wasn't really Asia itself. It was the Brexit vote and it was the presidential election that got struck. So what happened was when these two things happened, immediately the prizes of cryptocurrency spiked a little bit and then from there, you have the conversation that it became crypto assets, basically a safe harbor and alternative. That is the moment when Asia started to look at prizes itself and that's the moment when people started to look at Ethereum, blockchain, Bitcoin. So that happened in 2016. So it's good to know that we won local stories in Asia but it's also good to know that there is still some form of entanglement with the global stage and that's something that is, yeah. And that story didn't really register and they weren't keeping market. Nobody was thinking, very few people were thinking that there might have been one or two stories about it but that's not what was capturing attention. So that's like a good thing. Yeah, it was an interesting disconnect that we found really interesting. Like, Mandel said to me again, Mao Gok's doubt. That totally didn't land where, but instead it was Brexit, it was Trump and then they started with the social enterprises and then for 2017, ICO, 2018, they gave me a price discussion. But now in 2019, I think what Amanda mentioned about recalibration has a lot of, it's pretty legit. The conversation in Asia is not pretty much in the enterprise side of things. I think moving ahead, we asked the question, what's the next narrative for it here? For Asia, what's the next narrative? I've explained how the regional blocks work, the dual economies, and the question that we need back to you, is there a narrative for Asia? Is there a single narrative for Asia? Is there a single narrative for Korea, Japan, or Southeast Asia if there's a space you wanna go after? What do the you, what do the me and me, what kind of stories are you pulling out that wonderful code, bacon and Caesar? So I think this are the kind of a conversation we wanna kickstart in this workshop, what are we innovating and what are you impacting? I think that's it from my end. Great. So now it's time for us to practice making some sizzle and it should be the kind of sizzle that makes it really seem like there's bacon. Does that land with everyone? Okay, I gotta laugh if you let that land with you. Oh. Okay, great. Well, we're gonna split into groups and we have some real journalists here, which is great, and some people that are very attracted to speaking to press and representing different projects. You guys are scared of breaking into little groups. It's a workshop. It's a workshop. It's a workshop, man. All right, all right, well. We're gonna have one big group. So I was thinking maybe if that seems like a reaction, that seems like a marked reaction that people don't wanna break into small groups and do these exercises, is that true? No, yeah, probably. I think it is. Do people, who wants to break into groups and do these exercises? Who wants to do, you wanna break into groups, do those? Who does not wanna do those? Who does question this one? Oh, maybe we should do questions first. Wanna do questions first? Great, let's do questions first. I had a question back to like, I'm sorry, to you. Oh, slide one. You don't have to go back to it. I think you said that, oh gosh, no, I forgot my question. Oh, there's more growth outside of the US. Do you feel that's attributed to regulatory culture in the US? Yeah, that was a stat from a PWC report from one quarter and the point of my including it was that even though so much of the global narrative around crypto and blockchain is shaped by the English-speaking market, not all, but some, that isn't actually dominant in terms of where all of the activity is happening and there's so much activity in Asia and Europe, even though they're not the one setting the story oftentimes. So that was kind of the point of my including that, not so much to say that the US is not interested, it's almost to say that these other areas are increasingly interested. Yes. Hi. Great talk. I've lived throughout Southeast Asia and China and Africa. The US is only a quarter of, maybe a quarter of the market of what's happening and I think it's because the population of the United States is 350 million as opposed to the rest of the population around the world. So that's probably why there's a lot more interest in activity outside the United States. But a lot of what we're seeing is, what I'm seeing outside the United States is a lot of the thought process is being driven by the United States, even though it doesn't even make out the core of what is happening in the rest of the world. So how do you include and how do you from a, because both of you are from two different continents and two different sides of the planet, how do you guys collaborate and how do you include and how do you get that message out as a singular message to the rest of the economies and the rest of the activity and how do you make sure that when you do report on a subject matter that you're taking in the perspective of many different economies and many different perspectives of many different countries and report as a one unit understand and apply in their ecosystem. I'm gonna tell you two mini stories that point to the necessity of localizing messages. And the first is that the English translate the word decentralized literally into Japanese. It means soulless. And if you think about it and if you think about that, that makes sense, you know? It's like in a metaphorical way, it's like your soul thing is all over the place and it seems like maybe it's split apart into little shards and that also makes sense. And the word decentralized, the word, I think, I don't know if it's actually a theory of decentralization, but it was one of our core key terms is very close and mandarin to the word revenge. And actually we were working on, it was in Korea, it was in Korea. We were localized, I was working with the EF helping to localize the ethereum.org website and we did like an algorithmic sweep and then we had a human sweep and the human sweep was like, oh my goodness, every time this thing says blockchain, it said to me, it was what, it was really interesting. So that's exactly, I mean, after living in China and learning how Starbucks went in, moved into China, they had to think of each of the characters or it can be French, it can be Hindi or McDonald's, McDonald's. They had to have like a common thread to the name to advertise who they are, but they had to have it communicated inside that community and that ecosystem and that country and that language from that perspective. So everybody kind of got it. So how do you, and that's exactly the soulless point is what I'm thinking about and the different languages being applied to the messages. Well it's not even about just the words of different languages, the words and languages if you kind of believe the same reward and thought that this emerged from like a system of thinking that's embodied by a language and so it's not just about realizing that the thing you auto-translated something into Japanese because it seemed like your soul exploded. It's about really thinking about the Japanese narratives around some of the concepts or something they decentralized. It's about like having a very rigid hierarchical business culture here, the way that they do and how to explain that to them and that might be different. You have a company like Consensus, let's say it has a project and you're going to explain that project a little bit differently into the markets while still being accurate about the nature of the project. So, Jane, so, and you emphasize different things that you feel like you're going to resonate the most with different markets and that's why you're the team that has folks that are able to localize different markets not just literally translate them but genuinely localize them based on a real understanding of what people might be care of. So, just really to be so, because my role is a copper Asia Pacific, so this is something. And not specifically Asia, for Pacific it's really Australia and Australia is English basically. So, I don't have to worry that much with that. For Asia, I speak Chinese but I don't speak Korean or Japanese. Do you speak Mandarin or Cantonese? Mandarin, I understand Cantonese. The tricky thing is, even that is a bit tricky because Cantonese is totally different. It uses a Chinese script but it's told there are words that doesn't excite. Yeah, so we sort of, it's learning process but I think to sort of answer your question, it's both, it's what we call, this term is taught around a lot by HSBC like 28 years ago. Global, global, global. But it's true because when I put out certain announcement from the state side and I just sort of distribute that amongst the different offices in the region, we find out very interesting things like we had a piece of news about Kaleido which is the business club itself. Japan for some reason, our Japan country told me that is something that was really interesting. Then we had something else that came up and another country told us this is something we want. The translation, however, is something that we get, local partners, we get external and then the local office, they do that because you need that level. It comes back to a point, my half of the presentation is basically to emphasize that the local media represents the local readers. They are your audience. Ultimately they are your consumer audience. So they need to understand the word. So if they're reading a blog or something or they read something on a website, on your website in English, they hit Google translate, they go to see the word soulless. I don't think that's something you want. So I guess it depends on, from my point of view, it depends on how you could plan your, plan of attack, your resourcing and to make sure you have the proper representation, the proper community. Decades ago, from a marketing point of view, it was easy for companies to make a lot of mistakes to the one that they mentioned. And it's not just Asia. When they translate certain red names into, you know, France or Spanish. I lived in Nigeria, I lived in Nigeria and there was a air conditioning company, Hire, that moved into Nigeria. They wanted to dominate the market for air conditioners but they didn't understand the local pigeon. And when you say, I know Bo now, it means that I am going. And so this, one of the marketing guys came in and he said, I'm gonna put a billboard up and it's gonna be an air conditioner and it's gonna say, we know cool, which means we do not cool in the local language. But he wrote K-N-O-W, not N-O. So we know cool and there's a lot of high level of literacy in the area. So if somebody says, hey, what does that say? He says, we know cool and it has the air conditioner there. They're gonna understand that air conditioner does not cool. So that may not last in that job for very long. And this is the reason why I came with the good guys. Talk because understanding and being ethereum in the local language and the local ecosystems and how it translates is so important. It's really finding out, the language is okay, but I feel you really have to come in to, you really have to put in resources and come in to get translated accurately. And the challenge is because our space is so new. Blockchain is so young, it's really so young. A lot of the words are new, DeFi, that came out nowhere, didn't it? And then now it exists as a concept, as a philosophy, and how do you translate that into Korean, Japanese? And if you are going to the market, if you go into the Myanmar, the language is gonna be different. I have no idea what that translation would be, but you have to sort of do your homework, I feel, to do. Because this is so new. It's not, we are not in an established space, whether it's outside the paper chair, the words are in established, the lexicon is there. The lexicon is still evolving for us. Next week, we may have a totally new lexicon. Sorry, June, you wanted to. Oh, no, I just had a question. So for you guys as the communications practitioner, what do you see as the key platforms or titles or maybe journalists or social media channels? What are the key levers that you guys hope to get your message out? I think it's completely dependent on the message and the goal. So I mean, I think if you start with, I want to, if you start with, I want everyone to know what I'm doing and who I am and this is the story that's a very limited way to start. I think if to work backward from, I want to take my product to Japan and I want to get this amount of users in Japan and hear the media outlets in Japan and hear the things that they cover, hear the things that they don't cover, here's what bothers them, here's what they like. So I'm going to craft a story for my project, working backward based on where you want to place it. So it's never communication in a vacuum. And it's always communication based on target audience. I would say that communications is a protocol or a practice rather than a set of stories for any sort of, don't you agree with this, right? Like any specific piece of content. It's a way of behaving. It's an intellectual exercise of connecting the landing point with the existing entity or project while being representative of the thing. Does that make sense? So a lot of crypto projects want to land, a lot of crypto projects, I would say your standard issue thing is looking for, they're often looking for numbers, adoption numbers, the thing you really care about is just high numbers of users. Indonesia, as Riley mentioned, is a great place to experiment and just get users. This is the cost of user acquisition is really low. But the spending power of your energy is really low too. So that's a great place to optimize your product and your marketing campaign and then take it into, there's some other places to go to, and then take it into a higher price point market. But then you might have to have two different price points. One for the folks in Indonesia that can't afford it once they move it in. So you have to be thoughtful about it. And you have to be respectful about it. Otherwise you're gonna have a negative rent backlash. So let's say we've gotten a bunch of users in Indonesia, now we're back advertising the US. A lot of companies want to have some, if they're going for adoption in the crypto community, they want coin dust, they want coin telegraph. If they're doing a product launch, they'll want an tech crunch. That they might be able to get something into like fortunes, the ledger, decrypt the block. There's a whole cadre. And then usually startup founders in the space don't understand that they're gonna only get niche coverage or like industry coverage first. Because usually the way that we talk to each other in this space is often a little bit grandiose. If I think it's changing the world, why is this not the front page news? There are times. You lose track of what other people are thinking about and what other people's incentives are. And also how much technical knowledge people really have, especially when you're getting outside the industry media. And so that's why I put this book from Matthew saying at Bloomberg on here, which is don't dump it down, but think of a colorful way to get your message across. So we're gonna explain in English what you're doing. And then maybe you can land some national stuff. So like FT is a great place to land a finance story. New York Times. Nat Popper is a really hard guy to get a hold of. But you can, it's really, really, really important. I hope you're watching this. You're going to be back. No, I'm just kidding. Matthew's saying it has to be a really high barrier to entry thing. Paul Veenia at the Wall Street Journal. Ola Gharith at Bloomberg also. Oga, who else? There are people really wanting to get in front of, some Reuters people can get in front of. Yeah, I think those are the juicy ones that everybody wants. And I mean, so courts back when you were, just to make it really personal, when you were reporting for courts, I had courts very much in that list in my mind, but I don't think I've seen as much from that we've ever in the space. Since you have to point that out. Aaron, I don't have his last name. Aaron. And Aaron, something I quote, maybe Matt. Matt was a little up there, he wasn't even used to this. Yeah, and Forbes, Forbes. I mean, Michael Douglas, he was there now. Lourish and like, there, that gave him a reputation. Yeah, there's like the people, there's the people that people want on the end of it. And then Twitter, every startup who cares so much about their Twitter because the space has such a different Twitter. Discord, people are having Discord now. What's the list of those people for Asian markets? Asia is quite different, by language is quite different. For media itself is tricky because what we consider the top tier, top tier, the Google, they are very hard to land. By default, the market in Asia are very focused on enterprise and numbers, facts and figures. Earlier on, I mentioned, to hit career time, to be choice on, which is career, they focus on stories related to career. If you're doing something in some sort of that helps, or with some sort of, let's say, that impacts a certain community group, you know, you're doing something that helps elderly in, so that's a career story. It's, it just makes no sense for me to push it to, you know, Japan, unless there was a relation. Now with the Bloomberg, the Reuters, Reuters, they have National Desk. With Bloomberg, CNBC, they tend to be a bit more regional, they like regional stories, highly competitive. If CNBC, what takes a story, Bloomberg may not, you know, like, first as users, this is not new. Onto the social platform, that's a bit tricky because it's extremely diverse. We chat, like I mentioned, that is the dominant platform for China and it sort of covers in the Hong Kong as well. You literally don't have to get out of the chat app and leave your life in China. Everything is, you know, is wrong place. It does mean that you want your stories to go on WeChat. So I think, you might have heard of Jinxub Golden, which means I think Golden Color Finance. They, if I'm right, they got booted off WeChat because they were seen as doing too many paid commentary and that affected their numbers significantly. So WeChat, obviously, in parts of Asia, line under a neighborhood that is big as well, Facebook, in parts of the developing market, social media, it's interesting, in parts of the... And it's something that, you know, we talk about, Joe Luton talk about, in parts of Asia, social media equals internet. You wouldn't think of it that way. I mean, you would stay Google in the morning or you go to FT, you go to Yahoo or something. Don't sure about Yahoo, but you do that. In parts of the developing market, social media is the internet, is how they get information. That's why there's so much concern with, you know, Facebook and fake news, Facebook accepting ads that may have a hidden agenda or things like this. That's the challenge that Facebook is facing and any other social media platform, but Facebook is de facto. So, you know, I forgot to work for it, but very unpleasant news and I forgot, actually, I forgot to work, but this is the case with the developing market. So, Line, Line is biggest in Thailand as well. So, for instance, if you were to get a piece of news in back up books, which is the sort of like national English language in Thailand, that's a huge hit. That's a huge hit if you want your channel to read it because it's in English, but if you want a local, local consumer to read it, he or she isn't gonna read the back up books. He or she is gonna see what's online, what's on Facebook. So, that's a sort of, you know, it sounds expensive now if you have to split everything, but you have to, like what I mentioned, who's a pocket audience, what is the goal, what is, and then you go back with what becomes the channel. So, just to add some more, that this might even be slightly disturbing, but so the way that we organize the PR team out of consensus is that we have Asia and US-Europe represented in-house and then we use external firms all over the world to get more reach. So, we're coordinating with internal full-time folks with external agencies. We were interviewing, we were thinking about having a PR agency in South Africa, and we were interviewing these PR agencies and they kept on sending me decks for content creation and I didn't understand why in all of their SOWs, if we're content creators, we have a content team, just PR, just talk to the journalists and localize the message for the journalists. And it was so confusing that they explained to me, there's no difference. The PR writes every story and then they publish it and there's no, there's no, like they were so confused. I did not know this, I didn't talk about that. There's this, they're like, what are you talking about? And I'm like, what are you talking about? So, there's a different thing going on with just like what media is and how it works in different markets. And so, assuming that everything about narrative construction works in the same way around. I actually do think that part's pretty similarly similar between Asia and the US and Europe, but that it's not necessarily true everywhere. Well, I think, I mean, I think that's a really interesting point, like where do you have a dominance of cell phones? You're gonna have a dominance of media through things like WeChat, Line, and Facebook. And that then allows you, gives you an opportunity to do your own PR as news, right? And also to use influencers, right? In those communities, we have big audiences. Like what you, you asked a question earlier on about the penetration rate for mobile system. That is, that is, that's, that's as in the case if in the developing region whereby there are average income is lower than if you compare to Singapore or the US or Hong Kong. So you're all gonna have a headphone. They are not gonna have a laptop, right? And the experience is different. They are not gonna look at the news on a laptop, right? They are gonna share the news and communicate with each other. If I'm a farmer, I'm gonna rely on this to get better forecasts. So that's very, that, that, that, that, that sort of understanding of the purpose for them to communicate. We say content, but they want it for us to be purpose. So they wanna know the, what are forecasts? Do they really know the price of grain? Is there an earthquake that will affect their shipment? So this is how they, their work is constructed. And I think there is very good opportunity for, for Ethereum and blockchain, because if you are able to gap those things, the pickup is very fast. And you mentioned influencer, but in different, different markets have very different perspectives on influencer marketing, especially right now. Like right now I would never recommend that a company in the English speaking market explicitly have an influencer promotion program because I think it would induce a lot of skepticism if there are markets where I would, I would think that was okay. And I would have an English speaking company genuinely go out to people that are important in the market that are very followed and say, do you actually like this thing and will you help me? As opposed to like, here's tokens. Well I think, particularly in like, the brand and e-commerce marketing in China, it's all influencer marketing. Totally. And so it's really, really different perceptions of that. And it's, it's normal over here and it's viewed like a little grain of skepticism Sorry. Come, I just had a question there. Yeah, first, yeah. So I have a question on, you know, the back system for globalization. Because, so, I mean, I think everyone else will agree that if you want to build narrative, consistency is one of the key factors. And, but if you have a look when you are trying to do globalization of those narratives, it is very different, very difficult to kind of, well, to do, to provide QC because you don't know the language. And if you have the like kind of a local rationale in your team, it can be provided, but that's not the case. I was wondering how you kind of make sure that narrative is localized well and how it is, you know, how you get you're getting good feedback. Because, and if you have partners, maybe you delegate that. But again, you cannot ensure that those partners are doing a good job. So that if you have those suspicion, if you have those doubts, how do you get the feedback? How do you kind of make sure that the narrative is going out? This is the thing. Yeah, so, so a bigger problem outside of that is that, as a stadium, no one runs the marketing or PR for Ethereum or can control what the Ethereum narrative is because the community is decentralized. But if you did, we did have one narrative, like, and that's a local one. We don't even have that. So we have a problem like a layer out from that in terms of like consistency and control. And then on top of that, one layer in at the work question layer, sometimes you mess up, you know, like there is a market where we had a partner that we realized pretty quickly, you know, wasn't doing a good job and maybe didn't have a good reputation. The moment we found that out, which we found out from, you know, just growing our presence in that market, we switched it. And we, you know, very politely switched that up. So, I mean, not a huge deal, but just like this intermediary wasn't doing a great job of translating everything. And we wanted to have a better translator. So you find out from other locals, but that's the way to find out. So you find out from other locals. I wish there, it's feedback. And so triangulation is also super important, triangulating with another disinterested group. So let's say you go into a market, you're translating your content and it's a market where you don't have anyone on your team so you've hired some kind of intermediary, you ask someone that they don't know to review a good thing. I wish I could tell you that there was like an algorithm for it, but it's like a manual conceptual kind of process. Yeah, it's just as because localization can be disastrous in many reasons. Oh, it can be. I mean, you need to do that. You need to be rigorous about what it is and you need to be like shot in a certain region without even doing anything wrong. Somebody was like, not literally, like have your brand reputation shot, not be like physically shot. Not, yeah. Just something to add on to specifically for here, maybe not so much for other projects. Since it's decentralized in one action form, is it? Someone like, say, the foundation of consensus could, there's narratives that you want to push out, or definitions that you want to have, like explain to your layman. It could be done in a sort of open sourcing, let's say on behalf of whatever. And there are local people who are interested. So if there is a way where those people can have some sort of reputation check, that you know it's not someone, nobody can push their share of their own projects, then you can reach out to them and they can sort of translate it or interpret it in their own local context. So that completely exists. And the ethereum.org website is that. So ever so there are translators from all different languages translating all the content on ethereum.org, which is the site with the domain authority for ethereum. And so if you look at the ethereum.org Twitter, they tweet each time they roll out a new language. And this wonderful woman, Taeyang Kim, who's Korean, who's here, has been running that program and they're more and more languages. There are now hundreds and hundreds of contributors and all of it's done through GitHub. So exactly, and yes, 100%. And it's been really strong, right? Like crowd sourcing translations and then having a professional a little bit over before it goes out. So it's ranked for SEO. And then the other thing that I would definitely recommend getting involved with, because I started it three days ago, with a bigger group of people was marketing down. So the idea is to, we launched it at the Mollackdown meetup. And the idea is to get a bunch of stakeholders in space together to create the funding and governance mechanism for properly marketing and messaging ethereum. Because there should be some independent entity that does that, that has the proper expertise to do it. So there's a telegram channel, there's going to be a Twitter, looking for members and looking for members that can help work on it. And probably it'll end up being paid opportunities for people because they'll be funding going to FB, knock on this. That's funny, I'm trying to start a new step. We'll call it Daodesk. Are you? Are you? Okay. I'm just, I'm trying to tweet it into existence. Okay, tweet it into existence. If it's tweeted, it's true. But I had a question, so as you know, you guys are kind of meme hustlers, right? Narrative peddlers. What are the hot narratives that you're selling today? What's hot in Asia? What's hot in Asia? I would say it's not actually defined yet, but it's, the lady who just left, she did mention that a lot of the pop process you originates from, what we call U.S. Cobra. Which is, it is the case. Asia is still very focused on enterprise. Like they are, it's extremely focused on enterprise. So the business side of things, you know, when I don't represent the business business role, but that business side of thing is about how do we get something created. So the conversation has shifted from what is blockchain? How does this work to POC? It's way past POC. Now businesses don't need you to explain. They don't need us to explain what is blockchain. What is it? What is this magical thing? How? How would you make this work? And they tend to already have a certain idea that they want, that the top process has already been adjusted internally. If I'm a business in a certain sector, I want something in a certain way, can you create this for me? Will you roll this out for me? That is the conversation and the business has been up. It's beyond POC. It's already beyond POC here. Yeah, I think maybe we went over this before you came in, but I think the stories that people really want to talk right now are a story of real numbers in them. So either it's an enterprise spending real money or making real money, or it's something with major funding or it's something with major customers. So if there's a number of people like that right now, then D5, people are trying to figure out what it is, trying to follow it, Ethereum 2.0 and Roadmap scaling. I think those are probably the things people are looking for right now. I think some people are interested in this next round of IE, the next IPO thing. If there's another thing that looks kind of like ICOs, what is the way to do it? Given the enterprise thirst, do you work with people like EMY in Nightfall to push that into the enterprise space in Asia, or is that too partner-specific at your level? I don't have the information specifically. It's something I should try to do, because I'm not a developer background myself, that maybe conversations about this that are not familiar with me, so I can't quite answer that. But this is specifically EY's Nightfall, right? Yeah, it just seems like they're doing really great things on the enterprise to make use and publish that, or have those enterprise users interact with the public chain. Yeah. I think there's very close connectivity between the team there. I'm sure, yeah. It's on the Ethereum space. And they're speaking of it. I saw them yesterday. They were talking about it, yeah. And they're part of our, part of our long-term nutrition. I like the name, Nightfall. Yeah, I know. I know, it's like, oh, I'm shocked at that. Okay, are we done for time? Any... Sorry, we're getting some kind of time message from the back. What is that time message that you're giving us? It looks like a string of pictures on the first. What is it? 10 minutes. Okay, great. I guess we're just not going to do that exercise. Nobody's seeing today. I really want to. Unless someone wants to pitch the idea to a coin desk. Who's sitting right there? The embodiment of coin desk. No, you're now the embodiment of Dow. The Dow desk. The Dow desk. News desk. The Dow desk. Maybe you guys can introduce a bit more of a marketing bell and a Dow desk. Well, June, do you want to pitch a Dow desk? Sure. So the argument goes like this, right? If news is a comment and a public good, then who should fund that public good? And the answer is the people who are affected by the news. So if we want to create a new source to cover a critical currency, then we can imagine, you know, the top 10 public chains, the top 10 exchanges, the biggest wallets, the biggest VCs, they should all be members of this Dow. They should put funds to the Dow so that the Dow can allocate the resource to create news gathering teams to cover this caucus. And if you want to make it a revenue-generating Dow, then that Dow can load some assets, like let's call it dowdesk.com. And dowdesk.com is a place that the news that's approved by the Dow gets published. And it's a place that advertising and other revenue-generating things can be a catch-toot, and you fed back in the Dow. Sounds like we should definitely work together with marketing down Dow desk. Marketing down could market Dow desk. I mean, Dow desk could be like the PR, like the publication outlet of marketing down. Dow desk is register. I'm not that smart. No, no, I'm not that smart. Yeah, Sam just did it right now. What is going on? Sam is squatting on your desk. Squatting, man. You're going to sell it back to me. Plastic belt desk, you have a cue. Okay, let's try. Dow desk. Sam is squatting on every possible iteration. It's available, it's available. And any more questions from even other regions or something you guys want to do in nature? Roadblocks. I'm just more of an enthusiast here. So I spent a lot of my time reading a lot of the publications from this year. From where I sit, I still feel like people use the word Bitcoin to represent blockchain. Or there's a great article that comes out on News of Ethereum, and it's like they've gone through the article and removed the word Ethereum and put the word blockchain into it. Do you know why from this presentation? Well, you're trying to appeal to a larger mass of people? So yeah, it's SEM, right? It's like, it's a calculated decision. It's infuriating from my point of view, just. So I was at Hevington Post in like 2013. And one thing that we would do is we would just put like a cardashian into the base name of the URL for nearly everything. So you would go to like any news article and there would be all this stuff in the base name of the URL that just was stuck, right? Like keywords. And so it's not like something malicious that media has against Ethereum. They're just going to go with what's the most recognized because it's like, they're gonna cover like a zebra walking down Fifth Avenue, they're not gonna cover a zebra up to see them. And they're not going to cover, you know, something that's small, something that's not important, something that doesn't stand out. And Bitcoin makes it stand out more because it's better known. We went over those numbers with the 75% versus the 17%. And so the way to fix that is to get Ethereum more known. And the more known Ethereum is, the more likely media is to put it in a headline. There's a really funny Twitter account, though, called Built on Eater, which tweets out every article that is about something that's built on Ethereum that doesn't mention that's built on Eater. Oh, they're really high. And it's really high. They do a really good job. They do a really good job. And the other thing is, one trend I've noticed with crypto and blockchain startups, and I can't decide whether this is better than, they don't mention that they're on blockchain at all. But then they're mostly on Ethereum. Like the last time I checked, something like 96% of projects built on Ethereum, built on blockchain or built on Ethereum. When people say blockchain, they usually mean Ethereum. But, you know, blockchain is a much bigger keyword than Ethereum still. And Bitcoin is a bigger keyword than blockchain. And lots of companies don't even want to be associated with cryptocurrency because of the re-calibration. So, but that's where we are right now. And there needs to be applications in Ethereum that build up the name regulation. There needs to be a name for, so Bitcoin, so here's a challenge. Bitcoin is digital gold, store value. There are all these names about Bitcoin. And Ethereum doesn't really have a name right now. And so there's a zillion dollar competition going on for an infinitely scaleably remunerated competition for who can figure out a name for Ethereum. This programmable money doesn't really cover it. Smart contract platform, like nobody's looking for that yet. We talked about last night, the biggest blockchain actually gets the word blockchain. Last night we were talking about calling it the biggest blockchain. And then there's going to be a sister company called the bestest blockchain. The bestest. Yeah, so I like the biggest blockchain. Yeah, I think that's not, that's not old yet. So there's a great, there's a great book called the 22 Immunable Laws of Marketing. And basically you can only, you can only think about one thing occupying one high-fervalry. So you have like a little space, like a bubble in your mind for each high-fervalry. And you only get one, you get to lodge one thing there. So like the safest car is Volvo, you know. And no one else can be the safest car. You have to be the something else's car, you have to be the flashiest car, the loudest car, you have to be the, I don't really like cars, so it's all negative. But you know, like you have to be the something. And you're still working on that. And gosh, should I try, and do I capacitate consensus to make that? And it's not made yet. So let's work on it. Okay, the cutest blockchain. The cutest blockchain. That's doge, that's doge. Yeah, all right. You see, exactly, that's exactly what's happening. That's an immediate, when I say cutest, doge. Which is true, there's so many pictures of it. See, you think about it. Three minutes left. Who are the personalities in Ethereum who you guys have found to be the most popular? Is it? Like for example. It's so metallic. Is it metallic? So it's interesting, people think that Joe is more, and this is just talking about them as like, her like objects. This doesn't include like the warmth of their personality, or like whether they're like good people, or what they eat for breakfast, but just looking at them as names. Metallic is a zebra walking down Fifth Avenue, because it's H. It's very unusual to have someone that young creating something that's impactful. And so, and also being so articulate in many of the ways that he's so articulate. So that's why that was listed as one of the core stories from the very beginning. Because of that persona. Whereas you get someone with someone like Joe's background more often in that kind of position, that doesn't lessen his ability as a storyteller in the space, but it's certainly like a less unusual profile. And that's better for certain situations that works for other situations. So what I like is that there's actually such a variety of characters in the space that sub into the situations that make the most sense. I think the two of them are the ones that I think are the most along with Iberia. Is that, does that resonate with you or is that just being living in my world of senses pure? Maybe. I don't know if I can hear from the jury as well. I guess for Asia specifically too. Okay, of course. For like Singapore, Vitalik, definitely Joe, yes. But Joe is a bit specific. They tend to look at him from the, because Singapore is such a financial hub. They look at him from a financial point of view. And he ties back into it. I fall by telling, I mentioned it in the deck. He's speaking, the Chinese speaking, via Taiwan, China by association, so we have a China sort of covering. I haven't got a grasp where his sort of place is in, I guess, Taiwan, Hong Kong, that sort of thing. That's a couple. Is there anyone that you think of as being like? Secret heroes. Like a super, and then there are a bunch of people that attack people, like Carl Slarge, Danny Bryan. And then I would say that people know I am the leadership. I think people on the enter, I think we've got some folks here, that when you go to the enterprise side of this art, like the main, the main folks, like you're, it's like it's a pantheon of different, different, deities for different occasions. Well, I also think that we as developers get stuck in marketing to this tiny little ecosystem. And if we're gonna actually get this story to be a bigger story, we have to find the memes that actually work. The biggest stories. Yeah, it's something that we hear a lot. So developers are not necessarily businessmen, businessmen are not necessarily development, the language is mind-finding, mind-finding. Anywhere, I would say. We're having fun. Have fun with us. Thank you. Have fun. Thank you.