 Yeah, hi, hi all. Welcome to Hyperledger India chapter call. I am Kamlesh Manwari. Lead the Hyperledger India chapter along with Madhya Anilov. Another poll leads Deepika and Vikram. So today we have an interesting myth of talking about how you can use the Hyperledger technology for tokenizing a tech talent. Tokenization you know, I think we are talking about everywhere from real estate to bonds and securities. But here the Rizumax team trying to use the Hyperledger and building the tokenization of tech talent. So Rizumax is a platform to facilitate the smooth outsourcing and delivery of software engineering work across international borders. And it facilitate the evolution of and ranking of professionals using AI. It allows professional to form teams or doves to take on fellow professional and intelligent smart contract with companies, smart conduct that can be triggered by agile metrics and results in transactions that automatically transfer tokens to the professional wallets on completion of work. So this is going to talk about the Vinayak today and Vinayak is a serial entrepreneur after his last rewarding exit he decided to devote his time to deal with the problem of unethical practices like fetch quitting, expounding last minute about proxy and mode lighting with the hot topic nowadays in the software engineering profession. So over to you Vinayak. Thank you Kamlesh. Thanks for the introduction. So let us get started with defining what is the definition of the market. So what we are talking about here is basically companies and entrepreneurs or DAOs interested in outsourcing software. So that is the broad target segment and they might be following the standard software development practices like they follow in the agile methodology like backlog grooming, prioritization, planning, poker, sprint planning. This is the standard stuff. So this is the basic underlying assumption that you have some companies or entrepreneurs or DAOs they are developing software and then they have some time boxed workloads like a sprint, etc. And then they use the agile delivery model to build it. So this is what this particular platform is meant or targeted towards this set of people. So essentially we have built a set of our community of ethical companies on one side and ethical employees on the other side. So these are the two communities we are going to be talking about. Now companies is very easy to understand their companies or companies or DAOs or it could be individual startups with their owners as founders. And on the other side, we have three roles that we can identify in this community. A professional who is a member of this community, he is a software professional and evaluator is somebody who evaluates the claims made by the professional whether they are valid or not. So supposing a software professional says that he knows XYZ or he has cleared ABC certification. The evaluator validates that and there is a guild master for every guild. So this community has multiple guilds. Each guild is, you know, usually talking about a functional area such as DevOps or QA. So there could be a QA Guild or a DevOps Guild or it could be more specific like AWS Guild for Amazon Cloud or it could be Java Guild for people who do Java programming, etc. So these guild masters like for example, Kamlesh is an example of a guild master for the hyper leisure guild. So there are multiple guilds in this community and each guild has evaluators and they evaluate professionals. So that is just to set the context so that we know what we are talking about. Now, this entire thing is the platform what we call as the Resumex NFT marketplace that is what we are going to talk about. So tokenizing means basically we tokenize Resumex and we call it Resumex and that is the non-fungible token that we are going to be talking about today. So let's talk about the problem that we are trying to solve. There are some chronic issues like last minute backups, people committing to join but not joining or people simply quitting without even telling that they're quitting. They're just following the rule, work as per rule and not informing that they're not, I mean, they're just in the mode where, you know, hang on there as long as you don't get caught and deliver minimum work that is required or unethical moonlighting, which we all know what it is. So I mean there is ethical moonlighting also where you can do it, whether there when there is no conflict of interest etc. Unethical moonlighting would be something where you're using company's property or selling company's license or data etc. So these are some of the chronic issues that we have proxy interviews is another chronic issue. So basically what we are dealing with now and essentially post-pandemic is lack of trust and, you know, even platforms like Upwork where people complain that, you know, you get someone coming to you asking for you to do some work for that company or entity. But you're not very sure that you're going to be awarded that work and sometimes people just shop around, get their quotation as to what it is going to cost and then the work never happens. And there is this lack of trust that is there. So there are these some of the issues that we are trying to address by using blockchain because as you know, we can build smart contracts and on the blockchain which reduces our dependence on trust. So you don't need to know the other person to strike a smart contract and you can rest assured that you're not going to be cheated. So let's talk a little bit about how we are trying to solve this problem. Essentially what is happening is people get away with these things in the software engineering profession. They may back out once and they can do it again. They can get caught moonlighting, get fired and do it again. So there is no deterrent. So what we are trying to build here is some kind of deterrent that will keep people honest truthful and ethical and that is what the platform is all about. And there are some opportunities also. So why it is timely to think of these things is that the old full time employment model is changing. It is becoming more and more like a gig economy model. So there are a lot of people who are now interested in doing what, because they have the time they're working at working from home with their own computer, their own internet, their own power. So people are essentially now more independent in their thinking and Gen Z is known for that. So they would like to do what they want to do and they would like to have the employers define the work to suit them instead of having the employee to suit the work that the employer is offering. So things are changing. So that is a that is an opportunity for this platform that we are building, which is a timely thing to happen because of the change of work culture or the way we work that is happening post pandemic. So let's take a quick overview of the NFT platform. It's, and we are going to go into details of some of these things we won't be able to go into details of everything. Feel free to type your questions, and we will try to answer those questions as they're so. And in the end, if we get time, of course, we'll answer some of the questions here, otherwise, we'll definitely type out the answers to your questions as they come up. So this is a brief overview of the platform so you have ethical companies which we talked about and you have a community of ethical agile teams. So one thing that happens here is that each professional when he joins this community, he gets a NFT, an NFT that is unique in the sense that you you get a name, a name that is unique. And you also get an image that is associated with your names like I'll show you here. So this is a savvy quarter, there is an image and there is a name that is associated with that so you are getting an NFT minted as you join this community and also you get some caliber tokens in your wallet. Everyone gets a wallet and you get some caliber tokens what are caliber tokens caliber tokens are tokens representative of your resume's ability or the ability of the professional reflected in his or her resume that could be his professional ability is technical expertise, his domain expertise, years of experience, his qualifications, his certifications and prior history of interesting things he or she has done. So all this is consolidated into one number and that is called caliber tokens. Now what do you do with caliber tokens you have them in your wallet, you can't exchange for money, but you can stake your caliber on other professionals so supposing you have in your network some professionals whom you hold by regard for their professional abilities, like you do endorsement on LinkedIn, you can stake your caliber tokens on your fellow professionals to express that okay, here's a professional whom I regard very highly for his abilities and that is why I'm putting my tokens or I'm staking my tokens on him it's like placing a wager right so that's what we will stop here now we'll go into more details later but that's what this entire thing is about and it is being managed not by one company such as Resumex but it's a consortium of companies so there are at present three companies in this consortium one based out of Singapore one in the US and one in India and very soon we'll have more company joining the consortium so it's not one company that is managing it so these that's the overall picture. So there is a company that companies community on one side community of Asia teams on the other side and it's being managed by this consortium. Okay, then there are smart contracts that are happening between the ethical companies and the individuals like there could be a work parcels, which could be employment, as we know, or it could be contracts or it could be even small tasks you would have a startup giving out just a little bit of you know POC kind of thing or a minimum viable as they would call it whatever I mean it could be just fixing two bugs or it could be as small as conducting an interview. So very well defined work parcels are being given out as smart contracts and people are getting paid for work in this so we are we are already doing this at the experimental scale as of today. And there are minors who are minors minors are people who mind this talent so you know you need need someone to approach professionals and tell them that look there is something like this and you need. You can, you know, earn something out of this and it's good for you to, you know, get your NFT minted on this marketplace, etc. And, you know, put that, you know, professional or have that professional join the community. So, people who work for this community for building or minting NFTs and getting adding caliber to the overall system are minors so essentially just the way you have Bitcoin minors adding doing proof of work and adding bitcoins or minting bitcoins. Here you're actually minting caliber tokens by finding out professionals who are of high caliber, and these minors could be, you know, in the earlier times it could be a recruiter or somebody who's a headhunter who's finding talent. So, that is the overall picture for this now let's dive into a little more detail. So how caliber works as a deterrent so initially I said that we are trying to build a deterrent so that if, if some professional does something which is unworthy of him, like not joining after committing or doing some kind of proxy interview, or doing moonlighting which is unethical. So what is the deterrent what stops him or her from doing it again. I mean, you may catch such a professional and fire him once but what stops him from doing it again. In the case of a doctor or lawyer, a doctor or a lawyer if he does something like this he would lose his, lose his license to practice, but here in the case of software professionals there is no such deterrent. And that is why we see a lot of bad press or you know, there is some sensationalize and should no doubt in the newspapers and television, but there is some bad press that goes on that people are moonlighting they're doing this that and the other. So what is the deterrent. So look here here, this professional has minted her NFT and she has got 120 caliber tokens. Now what she has done is she has taken 30 of her caliber tokens on some other professionals and some other professionals take 40 of his or her caliber on this lady here. So her cloud, so to say is 40 cloud is basically indicative of how much is the, the stake on her by others. So, this is the way you can say that we are building a meritocracy, or we are building a reputation system. Now, definitely once you have the reputation you would not like to lose it. So first thing you get a unique avatar with a unique name which is a you know cool looking thing on the resumes blockchain you tell your friends that okay, you're out there. And this bestows upon the professional the right. You are on mute I think you are on mute mute mute. Can you tell me where I got propped up so that I can start from where I live. I think just two minutes before I think just reshare the screen. You can say right. I'll just share. Yeah, I'm able to share. I'm just taking the window that is relevant. Yeah, so I was talking about. Okay, so, you know, I will quickly summarize and then carry on. So if a person such as this lady here has been to her NFT and she has got some caliber that is her own. So she's able to earn some money out of it by selling her data unlike in other job portals. You are actually hosting your data on that portal, but you're not getting anything for that. Whereas here you are able to you are the rightful owner of your data and it is anonymized in the sense that the individuals who are visitors to this platform will only see you as your avatar. And if they want to know who you are and want to contact you, they'll need to pay a token amount for that so each visitor pays a token amount and that's the way you earn some passive income by attracting people to your profile with your caliber and you know you get paid for that. So that is one way and we'll talk a little bit more now. Coming to the deterrent part. Now if you're having this reputation system and if you're earning some money and we'll come to that more, more detail later, you're earning some money out of that you have got some reputation you're staking your caliber on your friends. You definitely would not like to lose that reputation. So that is the deterrent to get the long story short that we are building. So I'll skip this slide. Now how this works is on a, you know, it's a proof of uniqueness. So when a professional approaches one of the companies so as I told you this consortium is a set of validators or there are multiple companies who are working as validators so each validator or each company or each node as you may call it. First ensures that this professional is not already there on the blockchain. So that is the proof of uniqueness and we are currently using because this is an Indian system we are using the UPI identity or the other card identity to ensure that he is a unique professional on this blockchain. Now, once you make sure that he is a unique professional then you can min and then this can go for a consensus to the other nodes and when all the nodes agree that this is a unique and there is this particular resume and this particular individual professional does not exist already on the blockchain. All the all the blockchains with everyone they are now in synchronization with each other. So that is the proof of uniqueness which builds the consensus protocol for this blockchain. So let's talk a little bit about how this is going to solve the problem. So, you know, one of the issues that you used to have in the earlier days without this solution was like, if let's say there is a person who's already employed with a principal employer such as this, and he starts moonlighting. Now, there is no way if the professional does not tell there is no way that, you know, the principal employer would come to know about it. So this is a case of ethical moonlighting where, you know, you're doing some work but it is not directly impacting or it is not against the business interest. So there is no conflict of interest, but still there is no transparency here because there is no visibility. So the principal employer has always having this kind of suspicion that he knows that something is going on, he doesn't know what is going on, who's the other person, for whom are you working? Is it my competitor? So all those doubts are there, which is not good because after all trust is, you know, on transparency. If you don't have transparency, you don't have trust. So with this NFT, what can happen is that you can have a smart contract with the entrepreneur and the employment contract with the principal employer. And since both of these are dealing with one unique identity, right? These are not two individuals. This is, as I said that there is a proof of uniqueness. So both these contracts are with one identity, with one NFT. Then there is a level of transparency out of 24 hours of whatever available time, how many hours can this NFT be utilized or having smart contracts, etc. So there is a kind of transparency that builds trust. So this is one use case, the other could be a freelancer. And again, even if you're working with a freelancer, you don't know how many others that the freelancer is working with. There is no way an entrepreneur would know. But in this marketplace, what happens is you are dealing with one single NFT. There is a unique NFT that you are minting a smart contract. So that way you are able to compare notes and you are able to see that there is no misuse of the code and there are no competitive issues here, etc. Because you have that transparency based on the smart contracts. So this is one use case where this NFT being unique helps. Now let's talk about a little more detail about the deterrent that I talked about. What is why a candidate or a professional would be more interested in this retaining his identity on the marketplace and having his NFT on the marketplace. So one is of course he can get paid for the data as I was mentioning earlier. So whenever a company de-anonymizes his data, wants to know who he is, wants to contact him, etc. There is a small token amount that the company has to pay to the individual. And that is the way and of course that will be dependent on what is caliber and what is cloud is because higher the caliber, higher the cloud, more likely is the company wanting to know who he is. So based on your caliber and cloud, maybe you're likely to earn more. Imagine just the way people are putting up their videos on Instagram, for example, and they are earning money because there are more and more people wanting to view their video. Just the way you are putting up your profile on this marketplace and there are more and more people wanting to view your profile because of your performance, your caliber, your cloud. So increase your caliber, increase your cloud, get paid for it, right? I mean, so it's a good way, a professional way of earning some passive income. The second is to get paid for completing some work. So this is a straightforward thing. People like you, they give you a job or they give you some kind of freelance work or they give you some smaller tasks to perform and you get paid for it. The third way of earning is even more interesting. This is by staking on others. So you're sharing what others are earning and there is a share that you get out of that. Now let's take this example. So A and B both have staked their caliber on C and D. A has staked 30 on C and 20 on D and B has staked 20 on C and 20 on D. That is a simple thing. So now look at the cloud of C. So the total cloud of C is the total of caliber staked on C, which is 30 plus 20, that is 50. And total cloud of D is 20 plus 20, 40, right? So, and they have their own independent caliber depending on their capabilities. So C has a caliber of 100 and D has a caliber of 50, etc. Now let's say what happens when C earns, let's say 135 tokens, what we call as Rezo dollars. Now Rezo tokens are something that are representative of value. They have the monetary value in this system, which I'll talk about later. But for now just take it as money. So you are on 135. So out of which, what is the percentage of 60% goes to A and 40% goes to B because A has staked 30 and B has staked 20. Whereas in case of D, they get equally because both have staked 20 each. Now, the share could not be 135. I mean, after all, C needs to have. So C keeps 90% and the remaining $13 is divided 60, 40 between A and B. Similarly, D keeps 90% of 135 and the remaining $13 and a half is equally divided between A and B. So A and B are now earning passive income by staking their caliber and you can stake and unstake and you know, even that's a good way of referring. So as you know, it's a referral system. You're essentially referring some professional who's worthy of your reference. By doing so, by keeping your eyes and ears open to what is happening in the network, you are actually earning some money and you're making making that information available to a potential potential employer who is trying to employ the services of the other professionals. That's the way this, you know, there are three different ways in which a professional can earn money and you know, passive income is always good. It's like, you know, investing in your caliber, and just the way you will invest in a stock, you're investing in your caliber in the stock you invest by putting some money in the stock. Here you invest your own efforts, you get some certification, you do some POC, you get some experience and that's the way you're building your caliber. So we already talked about this. Now let's talk about what is the, what happens to someone who doesn't do what I just described, right. So we talked about, you should be building your caliber, you should be building by doing certifications by adding to your skills by taking on some interesting projects. But what if you don't, right, so in which case there is a natural way for the caliber to depreciate so that the algorithm is built in a way that if a professional gets into comfort zone and does nothing is natural, natural way there will be a depreciation caliber that happens there. So, let's look at the life cycle of caliber so let's say your candidate uploads and his caliber is 30. But there is something that is missing and very often you see this on LinkedIn or other platforms where, you know, most of the information is not up to date. So let's say the candidate updates his missing information and naturally that would increase from his caliber from let's say 30 to 40. Then he does some certification or complete some assessment. So it goes up from 40 to 50. And that's when let's say his resume NFT is minted and he has now 50 caliber tokens in his wallet. He goes and put some additional information, hey, let me, there's something missing so let me add this information. I have done this certification but I have not mentioned it here so let me add that. So for every additional information he provides, he gets those additional tokens and now he has 60 caliber tokens in his wallet. Now if he does nothing and he says he just rests on his laurels and does nothing for six months, naturally the 60 will depreciate to 40 and after 12 months to 20 and after 24 months to zero. So, because in today's day and age in the world of software, if you don't do anything for 24 months what you know 24 months before is not of much use. Keeping yourself updated, keeping yourself is very important here. Of course, he can then return and say, hey, you know what I have been tardy, I have been lazy, I have not updated but here's my updated information and he can always come back and add that information as you can make out all this information of chain because whatever is on chain is immutable. So there is only very minimal information that is stored on chain, which is just his identity information. Everything else which consists of his caliber tokens or the reason why he gets those caliber tokens about his age education experience and his certification and other details, all those are off chain. So they can, as you can see, they can result in increase or decrease of caliber. So similar to caliber, as the caliber is going up or down, your reputation in the market, which is your cloud, right? So when others will see your stake going up or down, that is how, you know, people will get to know that, hey, this guy is not keeping up because I'm losing. So take, for example, candidate A starts with zero and candidate B stakes his token. So his cloud now becomes 20 because B has taken 20 tokens on A. So A's cloud is now 20. C stakes another 40. So the cloud becomes 60. But it is also possible that after some time B may decide that I have another professional who is more worthy and I would like to withdraw my stake. And then B can withdraw his or her stake and your cloud, A's cloud goes back from 60 to 40. And, you know, in this case, another thing happens that C doesn't do anything. Takes it easy, relaxes, you know, and his caliber depreciates 50%. So what A will see in his wallet is that, oh, I had a cloud of 40 and now it has become 20 because C has been tardy. So that's the way there is a peer pressure on you because it's not just you, but others on whom he has taken your caliber will come to know when your caliber depreciates. Now let's say candidate D stakes 30, it again goes back from 20 to 50 because and then A joins a company and gets a bonus. Then X pays off both C and D, right? Because C and D got their, now they say, okay, now we've got our money. Now, you know, though this is a very deserving person A, he's not going to have any more transactions because he has taken a full-time assignment with the company. So let us withdraw our stake and they both C and D will withdraw their stake and the cloud will become again zero. So that is a, you know, a description of the typical life cycle of cloud, which is a reflection of how much caliber is taken on you by other professionals. So that is the reputation system to explain to you in a little bit of more detail. Now, how do companies work with the Resumex application? So let's say there is a company and you have this blockchain on which you have these bunch of NFTs which are minted by an owner or a validator or oracle or node or whatever you may call it. Currently, we have only three such nodes, but it's like there will be multiple nodes in the consortium later. Someone wants to say something. No, no, I think you can. Yeah. So there is this blockchain and off resumes each one resume per block and all that and then you can search and review. And then you get a rank list. So we will look at the architecture how the ranking is done a little bit later. You get a rank list of resumes and then there's a regular selection process and then finally the professional gets hired. And maybe there is a smart contract which gets triggered when he joins and there is a bonus that is, you know, joining bonus that is, you know, that gets added to his wallet. So here this bonus is in what we are going to call in Reso tokens. Now we'll talk a little bit about Reso tokens later. For now you just take them as equivalent of money, right. Now when this happens, the oracle who has minted this NFT in the first place gets about two and a half to 5% as a processing fee for the transaction. And maybe 100 Reso tokens go into the wallet of a professional two and a half of that will go into the owner for having minted. So that's a that's what keeps the system going it's the transaction fees so that is the business model, and that's the revenue model so to say. So that is that is the way a company would search, work with the app and then, you know, have smart contracts, and the smart contracts could be many many it's not the standard employment you can be very very creative and build different types of smart contracts and whenever there is a transaction or exchange of money that happens that results into transaction processing fee as you can see here. The thing is a DAO, now that's a very interesting concept DAO is a decentralized autonomous organization, which is basically professionals who are bound together by smart contracts just the way there is a company. But in the case of a company or a firm that is registered legally, it is very difficult to dissolve it, it takes a legal process to dissolve it. Because in case of a DAO, you can even have the dissolution built into the smart contract. So you may have a smart contract which is only valid as long as the project is there. The moment that project ceases or gets completed, your contract automatically dissolves. So this is a very very ideal kind of way of associating with other professionals in the gig economy, because you can come together, you are a project and go your own way. And the other good part of the marketplace is that you are able to identify who are the professionals who are likely to join your DAO or decentralized autonomous organization. So unlike other platforms such as the job boards, where you have a company that looks for an individual professional and they try to assemble a team by breaking down their project into smaller chunks and saying, okay, I need one front end developer, one backend developer, one DevOps professional, one QA part time user experience designer, one Scrum master. So this is a long shopping list with which they go to this job board and try to shop for these different individuals. Instead of that, if you're going directly to a DAO, it's a bunch of professionals that they have delivered or they have a history of delivery, and they have worked together before, they have stayed their caliber on each other. It becomes much more easy for you. So instead of looking for a profession, instead of posting a job, you are posting a project and you are saying that, okay, here's a project, you bring your team to the table and deliver the project. And the DAO is actually delivering. So it's the same transaction fee of two and a half percent is what the validator would make. But the DAO is formed in this process and they deliver the project, they get paid order, the bonus or whatever is there involved, and there's a transaction fee involved in that that is paid. This is the other method or other mode of working. So one mode of working is, you know, search for individuals and then, you know, individual professionals are hired or appointed or assigned on the project. And the second is the entire team is hired, right entire DAO is hired, and then that's a better way of doing it, right. So this is a, just pay attention to this a little bit. You know, I will take just two or three minutes to describe this diagram that gives for those who are technically inclined a little bit. This is the architectural outline of our Resumex NFT platform. So there is this consortium in the middle of everything, right. So this consortium is basically currently there are three instances of the blockchain that are running. And that is what we call the consortium, they are managed by three different companies, but there could be more than three, there could be five or 10 or 50 in the future, but currently they're three. Now, there are two blockchains as you can see one blockchain is a blockchain of resumes, which is where each resume there is a proof of uniqueness and each resume is one block. So when you validate a particular individual is unique, etc., any one of the nodes can validate and then that resume is minted as you can see on the left hand side blockchain. And then there is a blockchain on the right hand side where you are minting smart contracts and transactions. So which we talked about the types of smart contract, the types of transactions. So those are minted on this second blockchain. And that is where the Resu tokens come into the picture. So the tokens that are based on the, these both these tokens are ERC 20 tokens and, you know, they are transacted or they are being minted on the second blockchain here. There is a miner, as you can see the job of the miner is to mint the NFT. So when the candidate approaches, they go through iteration of getting updated data, getting latest data information and all that to get the highest possible caliber minted. And once that is done, once the miner is satisfied that he has all the necessary information, as you can see there is this minting happening so that there's this piece of, you can say software that works for the miner. At the same time, the miners saw this particular piece invokes the API to add this data to snowflake. So we have snowflake based data warehouse or a star system schema, wherein you can have search, it's a very, very powerful search that is based on this. So anyone who's searching for either for a team or for an individual can come to this as you can see here and there is an applicant tracking system. So once you take or pick up a few people or a team, you can get, get that added to the applicant tracking system and let it progress through your regular interview scheduling and evaluation and assessment, etc. So, and at the end of it, you know, you have a lot of these events that get triggered. And they, there are some points that are there so for every event that happens. There would be a rule that says okay for this event so many points get added. For example, if a particular candidate decides agrees to join, there could be a rule that, you know, he may get joining bonus of X dollars and that based on that, there could be a points register that strikes the smart contract and when the smart contract when the candidate actually joins he doesn't join whatever happens that amount is transacted. So this could be one rule the other way, these rules engine works is when you have a regular daily work happening like you have bug tracking or chat or email. There is a chatbot that keeps the engagement level high so this chatbot is built using chat GPT. And there is an API that is associated with that that keeps that picks up the events from what is going on in the project. How many, what is the, what are the cards that are that have moved in your JIRA, or what is what are the things what is the work that is getting completed, how many, how many chickens have happened when is the sprint ending. And all this information is fed and the chatbot keeps company to individual software professionals who are working in isolation, they're working from home or they're working as individuals. And that keeps track of their progress that keeps them honest that keeps them giving a pat on the back or kick in the butt depending on how they're performing. And for that pattern, the on the back deal also get some incentives and those incentives are decided by the rules engine. So you see the points register adding those points and then the smart contracts awarding those points in the form of Rezo tokens on the wallets of individuals. So this is a very, very 10,000 feet level kind of description of the architecture. Of course, you know, there's a lot more detail that cannot be covered here. But this is a this is good enough idea for someone who wants to know how it all works. So let's talk about Rezo tokens, I've been just mentioning Rezo Rezo Rezo what it is. So Rezo tokens are nothing but tokens which are initially just bought for a amount. Currently, it is equivalent of 12 us. So 12 cents. Okay, so one reason token is 12 cents. So that's just we exchange it as a fiat currency. So you give us a result and we'll give you 12 cents and there is no exchange or it is not traded on a marketplace or nothing. It's not even a cryptocurrency. It is just like, you know, you get reward points when you shop at a, you know, you could go to any shopping mall and you get reward points. And just the way you get it there in a Walmart or somewhere, here also this is like a reward point and you can get it in cash depending on how much you have, right? So candidates, recruiters and all those, they will have to have, you know, those Rezo tokens based on what they have earned. And then they will sell those Rezo tokens for a fixed amount of 12 cents. And companies will need to spend the Rezo tokens to pay the candidates or to pay the recruiters or to pay the platform, for example. So they have to buy a Rezo tokens unless they buy, they won't be able to pay. So they buy it at 12 cents. So there is nothing. It's a very straightforward, simple thing, pay 12 cents, get a Rezo token, right? But going forward, we have different plans to make it more interesting by having a bonding curve. So let's say we want to incentivize people to hold on to the Rezo tokens for some time instead of liquidating them. So in which case, there will be some people who will hold on to the Rezo tokens, they will be getting rewarded for by having a fixed appreciation. Now this appreciation is also going to be decided by a bonding curve which is fixed. So you wait for one month, you get maybe 1% extra. You wait for 10 months, you get 10% extra. It could be a very simple bonding curve like that. But that is just to make it more interesting for people to buy more Rezo tokens and hold on to them instead of liquidating their tokens on this spot on the same day. And the third way is of course having some kind of decentralized exchange like Uniswap which uses x into y equal to k kind of formula. And so this formula basically is, you know, x on one side means the total amount of Rezo tokens and y on the other side is total amount of currency in the pool. So when more people want to sell Rezo tokens, its price goes down and with more people want to buy Rezo tokens, its price goes up. That's the way it happens automatically. This is like, you know, you have to have a, it's basically market making, having a liquidity pool, etc. This is a more sophisticated thing and you know, this can be made even more sophisticated. There's no end to it. But that's a very, very long shot. And as of now, this is just a plan, maybe a few years from now this might come true. But these are all possibilities FYI. Now, how Oragul or Ennore joins the network. So they need to have a blockchain. Naturally, they need to run their own instance of the blockchain. They also need to have some caliber on the table. Right. I mean, we can't have anyone join this particular consortium. So to become a member of the consortium, you have to bring certain amount of caliber, maybe 100,000 professionals. Right. That's the kind of caliber that you need to bring in. And your voting power in this community or consortium is decided by what is the total caliber under your control. So if you have minted NFTs of resumes or candidates worth 100,000 candidates, then that will be your voting power and somebody who has got 200,000 resumes may be having double the voting power than you. So that's the way this consortium is managed. And of course, for joining the consortium, there is some fee that needs to be paid. And earlier joinees to the consortia, joiners to the consortium pay less, those who joined late pay more. So that's, that's what is the plan as of now right now we don't have anyone who has shown interest, and maybe some of you may be interested in joining you feel free to approaches but as of now, this is just a plan. So an oracle or a new node would join. And, you know, there are multiple network effects so oracles and does pull professionals professionals pull other professionals by sticking their caliber. So at every point there is a net promoter score that gets built into it so professionals will companies companies pay professionals. And of course when money is paid that pulls professionals so that's the, you can say fly we that we're trying to build here. Yeah, so this is just a bunch of responsibility nothing more we, I think we have just five minutes now so I'll stop here and you know thank you everyone and you know in case there are some questions that are there I'll just see if I can take any questions and can someone can come leash if you have any questions or some questions. Question which already addressed by Rajesh but there's a one interesting question by Gaurav. He mentioned like for identifying the moonlighting you are focusing on unique resume and empty and identify if someone is working on multiple tasks. Right, aren't you assuming that all the people are on the one marketplace, how will you handle the situation if a single person is a multiple marketplace like that. Yeah, so when somebody signs up, there is a oath that we give on this oath says that I will not do this, right, I mean, I will not hide information. Now what do you essentially for all you're saying is, you know, what if an individual hides that information so he could be on two marketplaces but he need not hide that information. So there, you know, you have to understand the spirit behind it, it's not, it's not the mechanism, it's the, it's the honesty of the individual that is at stake, right, I mean, and why would someone do it right I mean you have so much caliber at you have all this passive income. And if there is no conflict of interest what is the harm in telling that okay you're doing it right. So that is what all companies are saying so we have had several rounds of debate, several surveys, and even the companies are saying if there is no professional conflict of interest, then we have no issues with ethical moonlighting In fact, some companies have openly listed a few things that can be done, what they call as a white list, right, it's a white list of activity where you can undertake those activities and do that moonlighting without even needing any permission. So, if there is so much openness, there is so much trust, why, why go back and do something that will break that trust right so is the question. Another question like from Kedar, he mentioned like how do you ensure that contacts are labor law inclusive in terms of compliance. I have not understood. I think maybe he's talking about the smart contracts in terms of labor law. Thanks sir. If I may, hi Kedar here. Thanks sir. So essentially my point was that essentially whenever these contracts are being made by the organizations in terms of you know managing these employees, people on contract. Is there a way that our application can ensure that these contracts are in compliance with what the labor law permits or will there be a separate process to review those contracts from the aggregator side. Labor law in case of a software professional. I have, I mean I have entered into software professional contracts all my life, right, I have never bothered about labor law. So I don't understand this question labor law is applicable in which case because So essentially my where I'm coming from is let's assume there is an employee who is working with around three or four companies at the same time with different contracts, right. And then, you know, there are certain, there are certain laws which says that okay this person should not be, you know, working for stress towers or should not be working, you know, about, you know, it could be something. So, I understand you're talking about a company should not overwork its employees right I mean so that is what. No, I mean not not just about the hours of work it also could be so essentially, you know what what resumes is is it's a brilliant idea first of all I think it's quite revolutionary and really an amazing idea. I'm completely on board in promoting this. My main question is that whenever there is there is there are, let's say there are a set of employees who are getting contracted through our platform and and you know there are these monetization that is happening on our platform. What I'm saying is, how are we going to ensure that we are going to be labor compliant in terms of the compliance, the sheer compliances that could be required in terms of carrying out this transactions a with the employee and also a person who is probably in a permanent job elsewhere and maybe having three other contracts at the same time with that kind of you know how is that. I don't know, honestly, I'm not qualified, because I have done this business without looking at labor law, maybe I was doing something that that was not legal. No, but I mean, yeah, maybe we can have an offline discussion. I'm not qualified. I didn't so. So another question that Chandrasekhar mentioned so technically every or all of the IT enterprise companies need to start using this remix and it will start with. Okay, thank you. So, you know, that is not. I mean, this is something which you're saying should start or it's an assumption. I mean, sorry, Vinayak, I'm asking. So, to sort out all these problems, see the IT workforce in India should be safe. For example, 15 lakh, at least 80% would be already working in enterprises, all employees and the companies are all they're registered and all working it. Okay, so to sort out this problem, you need to put whole of these employees and the enterprises into this NFT. Only then this system can work, am I correct? No, no. So, this is an individual taking an oath that he will not, he will not do any of this, right. So, let's say there are 10 people out of 15 lakh people who have taken this and who have joined this. So if you're dealing with any one of these 10 people, then you are sure that they will not do this nonsense, right. So, that's all. I mean, you're not guaranteeing about the other 15 lakh people that what they are doing, right. No, when I actually, for example, let's say I'm working for one of the major enterprises in India and you're saying about pulling these tokens and all those things is verifying my credentials, my projects, my day to day activities. No, if my, until my company's zero is exposed to NFT, how would you know that I'm working or not? Yeah, so when you yourself are, so this is an individual just the way you have, you have your company doing your JIRA or your email, you also receive your recipient of that email or your recipient of the signal of the JIRA, right. So it is for you as an individual to expose all this to your assistant. So this is like, you know, you know, Strava, Strava is an app which you load on your phone when you go out running and it keeps track of your running performance, your part and everything. And nobody will ever come to know about it other than you, right. So the same way is your caliber that you are worried about. So this is the robotic. I understood when I, but technically speaking, when everyone started working for a company, especially project, no, there is a heavy set of red tape we call this non-disclosure agreement. I can't even put my client name in CV. I can only say it's one of the major international client. I can't say my bank name. That is a kind of thing. I mean, think about it. I can't even say the client name. I cannot expose a single piece of code or what work I do. Nothing can be exposed. I have to keep it myself. I can say I've worked in Java Technologies, Rusty API, microservices, that's it. Other than those words, I could not even pull a single letter or a screenshot from a company would make me trouble. Yeah, very likely that, you know, people who are working with large companies will find this very difficult to work with because, you know, some of the larger companies, they have so much interest in everything that anything that you do is a conflict of interest for them. Exactly. It is not possible in those cases, but I'm talking about, I've talked to several smaller companies and they are, and they are actually practicing this. So it's not a question of, you know, every 100% is to answer your first question. Okay. This is not a prerequisite that it's zero or 100 or zero, right? I mean, No, but I have one question, you see, for example, I work in IT, my eldest brother work in manufacturing, but they do have a very tight norms of this manufacturing process. They have a company laptop, this endpoint security would not allow you, for example, for me to pull up my one basically perform 16 out of my personal, it will be a hectic task to make the data. So as I defined the target, right, in the first slide, it excludes manufacturing. Okay. Yeah, there is no manufacturing included in this target, it is essentially software. No, no, no, I example what it is, ideally people all work in a devices which is provided by the company, which means what I could only log into the ADID or LDAPID and my data contains only with that. Understood. I could not take an API or interface and pull the data out of there. No, no, no, you can't. See, this is a data that you will provide about your own performance to this assistant on your mobile phone. Right. No, just the way you provide information when you do exercise that I did 15 sit-ups. Right. That's the way you provide this data. Okay, I got this. I can keep track of your own caliber yourself or your own. Okay. I got it. I got it. I got it. I think I got the trucks off with the system. Yeah. Thanks. Thanks, but it's a wonderful initiative. I don't know how it reaches the market, but it's definitely a good initiative. There could be some ways of how it will be a reflector in the future. But it's a good thought and I don't know, I was really because I have did a blockchain platform for past four years and for great finance. We did some hosting in Middle East country center. We had a tough time, but it was worth the effort I would say. I personally saw it. Thank you. Thank you. Thank you. So yeah, so I think then that's all I think we can. Thanks everyone. Thanks for joining and feel free to reach out to me and you know, in case you have any further doubts. Yeah, I would prefer to have one-on-one talk with some more technical, two technical things with Vinayak or someone in his team. Yeah, so we will be sharing this information on LinkedIn as well as on the Meetup platform. Okay. Feel free to reach out to me. Thank you Vinayak. Thanks. Thank you.