WEBVTT 00:00.000 --> 00:06.720 Just to remind all of the viewers, can you sort of describe what HBAR is because Hashgraph has just 00:06.720 --> 00:13.060 taken off like a rocket? You know, for a while you could buy it at a penny. Take us through, 00:13.320 --> 00:19.920 let the viewers know what it is first. Sure, no, that great place to start and we call those one 00:19.920 --> 00:26.060 centers, the people that were buying the very bottom back in January of 2020. But Hedera 00:26.060 --> 00:31.700 is a layer one network. It uses something called Hashgraph, which was invented by Dr. 00:31.740 --> 00:38.000 Lehman Baird. He's one of the founders of Hedera. And it has a lot of attributes that make it 00:38.700 --> 00:44.060 pretty special in the crypto space. And they created this public network around it. But not 00:44.060 --> 00:48.860 just that, they also wanted to have the proper governance. So to layer on top of incredible 00:48.860 --> 00:53.880 speeds so we can process 10,000 transactions per second, but it's throttled down to that. 00:53.880 --> 00:58.260 We can actually handle many tens of thousands of transactions per second. And with sharding, 00:58.300 --> 01:02.300 which is already designed to do as soon as we get to state proofs, it's going to be able to 01:03.080 --> 01:08.840 unlimited scale. Yeah, it's infinitely scalable. Exactly. Exactly. And then it has the gold 01:08.840 --> 01:16.560 standard of security and asynchronous Byzantine fault tolerance. It also has fair ordering. So 01:16.560 --> 01:20.600 you don't have to worry about front running, which we see an awful lot of in the rest 01:20.600 --> 01:28.640 of the crypto space. They call it NEV Maximum Extractable Value. But they also wanted to have 01:28.640 --> 01:34.740 proper governance. So they didn't just want a group of developers or just on chain governance or 01:34.740 --> 01:39.740 something like that. They wanted to have the biggest users of the network governing the 01:39.740 --> 01:45.300 network. So they wanted to establish something called the Hedera Governing Council. And when 01:45.300 --> 01:49.840 Manson Lehman, the two founders were dreaming this up, they said, well, we want to have, 01:50.180 --> 01:55.780 we want to make this network fit for purpose for enterprise use cases, mission critical 01:55.780 --> 02:00.620 enterprise use cases. And if we can meet the needs of them, we can meet the needs of everyone. 02:00.860 --> 02:06.420 So let's go find some enterprises to help us govern this network. And so they wanted Fortune 02:06.420 --> 02:13.080 500 level entities throughout the world on different continents and in different industries 02:13.080 --> 02:17.780 to be able to govern the network. So when they first said this, people thought they were a little 02:17.780 --> 02:22.920 bit crazy. But now we're down the line and we have 32 of these council members. They include 02:22.920 --> 02:29.920 Google, Deutsche Telecom, IBM, Nomura, you can go pretty much all around the world. We have 32 of them.