[Music]
awesome hey guys I'm Richard uh today
I'll be talking about trust minimize P2P
marketplaces uh on ethereum uh go over
the why how and some thoughts of looking
ahead so why are we here um if we look
at web 2 today uh data currently exists
in these centralized data silos whether
it's fiat currency in your bank account
uh your social graph concert tickets
domains Etc um these lead to high
switching costs for users for example
you can't bring your followers from
Facebook to Twitter or and these also
are very extractive uh to these users
for example Ticket Master charges like
monopolistic prices because they own
both the secondary and primary uh
exchanges and lastly there's like closed
apis uh which make it very difficult to
interoperate uh between payment apis for
example additionally if you look at web
3 in our permissionless database uh the
problem is that it's really detached
from The Real World uh if you look at
your social graph stable coins like
these defi instruments and even eth uh
all of its runs in a parallel system in
fact most of dii today is self
referential
uh and so the solution here is to bring
the real world to ethereum and the
question is how
uh we can break through these kind of
wall Gardens using cryptography and also
maybe tees uh so we can use ZK and MPC
uh these new technologies to allow us to
ex permissionless export uh data from
these centralized data silos uh
techniques such as ZK email and TLS
notary which also can help us redact any
kind of private sensitive information
prior to
exporting uh check out some of the other
talks on ZK EML or TLS notary today if
you want to learn more
deeply um but yeah now with these tools
we can kind of compose any kind of web
two action with web 3 action uh such as
proving a Fiat transfer using ZK email
to swap for some stable coins uh on
chain or Pro
uh ticket transfer using TS notary to
swap for stable coins uh or swap domains
for eth ETC or even put a social graph
inside a te to do some defi stuff
with uh an example of this flow uh that
is in production today is ZK PDP the
project I work on uh the problem uh that
it fixes some of the issues I mentioned
earlier um such as the high fees uh the
construction for this is pretty simple
actually a seller comes in escrows some
funds in a smart contract and provides a
payment ID a buyer comes in pays a
seller and uses that proof uh to unlock
the escro contract uh kind of replaces
binance or any kind of centralized
exchange with a smart contract and
replaces the manual process of unlocking
the escrow uh with instant unlock upon
satisfying a
predicate this construction extends
Beyond Fiat uh simply replace the
offchain payment with a digital asset
transfer and a proof of payment with a
proof of asset transfer now you can kind
of do PDP trading tickets trading
domains trade social media handles csgo
skins uh gift cards and much
more you can even further extend this
construction if you if you trust tees as
a credit po third party you can kind of
encumber a web 2 account put it inside a
te and act that act as a escrow for the
web 2 asset and both seller and buyer
send requests through the te uh once the
te owns both funds and the web two asset
say tickets uh then they can proceed to
unlock funds to both
parties uh yeah now you kind of can see
the web 2 account is fully programmable
you can do some weird stuff like make
the te run a amm pricing model for exam
for
example yeah in conclusion uh this
design space is huge to do trust
minimized marketplaces uh the tech here
is ready uh Dev tooling will continue to
only get better and instead of only
bring ethereum to the real world I think
it's time to bring some of the real
world onto
ethereum uh thank you and that's
it thank you Richard do we have any
questions shy crowd today come on guys
graphic of the P2P Marketplace I don't
even know if you have the ability to go
back in slides yeah sorry is this better
yeah yeah if if you can't go back that's
okay I was GNA ask something about it
but it doesn't
matter yeah I don't think we can maybe
you can just talk to it
okay any particular use cases you're
most excited about like in terms of
future of peer-to-peer
marketplaces uh I think there's just a
lot of ideas out there like you can put
almost any internet data on chain and
use it uh like use yeah trade trade any
kind of web to asset or even data and
anything that you think has value on an
internet you can kind of bring into
onchain to do cool stuff with yeah yeah
love to see it I mean just the like you
said Ticket Master I think a prime
example of just like marketplaces that
are absolutely using monop monopolistic
pricing to just gouge consumers and what
is becoming yeah a very much
frictionless process to do straight
straight Peter peer um I guess a
question have you seen any regulatory
issues um how are you thinking about
navigating that uh yeah I think think
um there haven't been so far I think P2P
is a legally I guess gray area kind of
thing uh you are allowed to transact
with like your peer for example Facebook
Marketplace is like a huge P2P
Marketplace and we're just basically
enabling uh the coordination of that to
be easier through onchain means on
ethereum totally
all right thank you Richard appreciate
it give it up