Alex Smirnov on deBridge’s New Standard for Interoperability Across Blockchains (Episode 227)
Crypto Alex Smirnov joins us to discuss deBridge’s new standard for interoperability across blockchains.
Alex is a mathematician, researcher, developer, and blockchain enthusiast. He’s the CEO and co-founder of deBridge – a cross-chain interoperability and liquidity transfer protocol – where he focuses on the protocol design, product management, partnerships, and operations. Alex previously co-founded Phenom which is a blockchain research and development company, and he has also led a team that has won numerous hackathons and developed various blockchain solutions and dApps.
Please share any links you would like to use in our show notes (Website, social channels, LinkedIn, etc.)
Website: https://debridge.finance/
Twitter deBridge: https://twitter.com/deBridgeFinance
Twitter Alex: https://twitter.com/PhenomGeek
The following transcript was created using artificial intelligence. There will be some grammatical errors below.
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Richard Carthon: Hello, everyone. Welcome to another episode of crypto current, your host here, Richard
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Carthon, and today I
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Richard Carthon: have an absolutely incredible guest all the way out in Barcelona, Spain, working on a project that everyone here needs to learn more about. We have Alex, the co-founder and CEO of an amazing,
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amazing, amazing, amazing
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Richard Carthon: platform called the
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Bridge Finance.
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Richard Carthon: How are you doing today?
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Alex Smirbov: Hey, Richard. Thank you for having me here, and I’m really glad to be part of this interview.
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Richard Carthon: I’m really doing well
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Richard Carthon: and excited about the current stage of the crypto industry
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Richard Carthon: and about
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Richard Carthon: the current stage for my personal
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Richard Carthon: project.
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Richard Carthon: So, yeah, everything’s is going great, actually.
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Richard Carthon: Absolutely, man. Other time of this recording a crypto bulls are back. We just recently got back to bitcoin all time highs around sixty seven
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Richard Carthon: thousand and one
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Richard Carthon: of the great things happening in industry, and I’m sure going to pack some of that later. But before we do all that, I want to learn more about you.
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Richard Carthon: Give us some background on yourself.
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Richard Carthon: Sure. So my name is Alex Smirnoff, and I’m a co-founder of the British protocol, but
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Richard Carthon: I myself
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Richard Carthon: am a technical person. I’m from the academic
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Richard Carthon: and technical background of Moscow
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Richard Carthon: State
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Richard Carthon: University, where I was
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Richard Carthon: doing this in the area of mechanics and
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Richard Carthon: mathematics. And yeah, I
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Richard Carthon: even though I value to the customer the department, but I didn’t defend the D because like six months before the founding, it just started
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Richard Carthon: to be engaged by
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Richard Carthon: blockchain technologies. And I was so fascinated that I decided, like,
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Richard Carthon: blockchain is something
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Richard Carthon: that is really incredible. It gives like freedom to many people and actually became kind of crypto anarchist because I really like the concept of decentralization.
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Richard Carthon: I just wanted to develop different staff
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Richard Carthon: to dig deeper into the blockchain technologies, and
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Richard Carthon: I’m still doing that.
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Richard Carthon: I’m I’m not quoting anymore, but I’m
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Richard Carthon: very deep in the
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Richard Carthon: design of protocols, and they participate in the development of the architecture
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Richard Carthon: and design
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Richard Carthon: of the smart contracts,
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Richard Carthon: etc.. And yeah, after
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Richard Carthon: after I graduated from the university in 2017, I founded
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Richard Carthon: the Blockchain
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Richard Carthon: Development Agency.
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Richard Carthon: I fully co-founded
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Richard Carthon: it through the Yaroslavsky, also co-founder of The
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Richard Carthon: Bridge, and
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Richard Carthon: we developed numerous blockchain connected solutions for decentralized applications.
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Richard Carthon: One of
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Richard Carthon: the internal products
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Richard Carthon: was crude storage
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Alex Smirbov: solution for banks and financial institutions, and we always
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Alex Smirbov: like to have funnels
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Alex Smirbov: by participating in the various blockchain hackathons,
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Alex Smirbov: and we won many.
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Alex Smirbov: For example, one week’s hackathon
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Alex Smirbov: and we were also
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Alex Smirbov: finalist of Binance
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Alex Smirbov: Blockchain
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Alex Smirbov: retired from that was held in Singapore. So, yeah, basically we like to build stuff, and that’s what we are doing.
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Alex Smirbov: Yeah, and
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Alex Smirbov: real, real quick, man. So I don’t want to skip
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Alex Smirbov: past that to too quickly
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Alex Smirbov: to win a hackathon. Everyone who doesn’t know like what that means. That’s huge. And especially in some of these hackathons that you just described as even with the Binance one, it’s probably the larger ones
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Alex Smirbov: in the world. It’s a
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Alex Smirbov: big deal. So obviously they are very talented and they have something special here. And you know, he was going to get a Ph.D. in Basel mathematician decided this blockchain thing looks a lot better. I’m a go towards that. Like, that’s that’s not like just some small move. That’s a that’s a pretty
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Alex Smirbov: big move, especially
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Alex Smirbov: six months before, like getting your Ph.D.. Like, what was it like? First, how did you first get introduced to blockchain in the first
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Alex Smirbov: place and then
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Richard Carthon: what conviction within? And I know you said it was the freedom, but like, how? How did you just go from on a dime?
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Like, You know what, I’m going after this.
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Alex Smirbov: Yeah, so first of all, I found out about the chairs, and it was really interesting and know how it works, what is blockchain? I started to dig deeper or I started to develop some, some interesting applications for beach first.
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But the main kind of milestone
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Alex Smirbov: was when I got introduced
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to and that
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Alex Smirbov: was the kind of blockchain based social network that was founded by
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Dan Larimer, the same guy who
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Richard Carthon: co-founded EOS, which serves
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Richard Carthon: as well.
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Richard Carthon: And the constant on the social network is that you can post some
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Richard Carthon: content and
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Richard Carthon: people like token holders. So this network code for
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Richard Carthon: your posts and you get rewarded in bitcoin.
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Richard Carthon: And somebody was like, I’m I’m studying at the university where I’m studying math and I need to post something
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Richard Carthon: interesting about the math. And my first post was uploaded
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Richard Carthon: by some whales
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Richard Carthon: and I got
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Richard Carthon: like two thousand dollars for some article. I did like
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Richard Carthon: fun like four hours
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Richard Carthon: around. The bet was super
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Richard Carthon: exciting, and I realized that blockchain is something
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Richard Carthon: very powerful. And as
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Richard Carthon: a student, when
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Richard Carthon: I didn’t make that much money and that was kind of
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Richard Carthon: like, Boom,
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Richard Carthon: is this how it works? I need to understand the technology, and that’s when everything started.
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Richard Carthon: Actually, yeah, in
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Richard Carthon: your
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Richard Carthon: origin story around that is is it really resonates with myself. And just like I know a lot of people in the space, once you get in, you see, Hey, this is a way that I can generate wealth for myself with either no money or minimal amount of investment. And then you’re able to see the ROI and a quick and like scalable way. It kind of gets your brain turn to like, Wow, like, this is happening. This is very real. And like if you understand how you can provide
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Richard Carthon: that value to others are
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Richard Carthon: being
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Richard Carthon: ecosystems. Without this constant base
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Richard Carthon: being generated early, you get the benefit as mainstream rest of the world catches up to have been in early and get the fruits of being a participant in that. So fast forward past that. So again, you get an estimate, you make some
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Richard Carthon: initial money, you are
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Richard Carthon: deciding, Hey, I want to go get in the blockchain. You open up your own consulting and now you kind of move forward and get into the bridge finance.
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Richard Carthon: So can you describe what that transition was?
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Richard Carthon: And then just tell us more about what is the bridge?
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Richard Carthon: Sure.
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Richard Carthon: So a bit
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Richard Carthon: of a background plus here, if you know, one of our focus area was the crypto arbitration trading. So we basically started to trade on different blockchain ecosystems and different access to form an arbitrage. And we have many situations when Alphonse and got
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Richard Carthon: stuck in a centralized
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Richard Carthon: bridges or got frozen by exchanges and long qic process processes were not ideal as well because it takes time. And at some point we really thought we decided like, we need to solve this problem in a truly
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Richard Carthon: decentralized way, and we need
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Richard Carthon: to build a bridge that will be truly permissionless, truly decentralized, that will kind of solve the entire problem for the entire industry. And we have we had this concept in wind and we were just discussing it from time to time.
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Richard Carthon: But the
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Richard Carthon: project itself commenced
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Richard Carthon: back in April, when we won
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Richard Carthon: the global churn and tax
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Richard Carthon: reform. And yeah, that was
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Richard Carthon: really exciting moment because we got the first baseman more than 140 projects
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Richard Carthon: worldwide. That was really good
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Richard Carthon: bootstrap for the protocol. And since then, we decided to fully focus our team on leverage and get a TV production ready version that can keep developing because it’s something that very much needed
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Richard Carthon: by the industry and
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Richard Carthon: the breach itself. The cross-chain interoperability and liquidity transfer protocol. Basically, it is a decentralized infrastructure that allows users are smarter smart
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Richard Carthon: contracts to pass an arbitrary
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Richard Carthon: data like arbitrary just or arbitrary coins, arbitrary and liquidity between any more chain ecosystems. And eventually, we expanded the debate, which will become
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Richard Carthon: a standard or a
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Richard Carthon: cross-chain transfers and cross-chain
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Richard Carthon: swaps for
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Richard Carthon: bridging of NFT and for interoperability of transactions
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Richard Carthon: as well,
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Richard Carthon: and for many other applications that will
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Richard Carthon: be built on top
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Richard Carthon: of these decentralized infrastructure. This is
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Richard Carthon: awesome. So for everyone, if you’re a newbie in the space, I’m going to kind of unpack why this is very important. And actually, we’ll give you a real life
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Richard Carthon: example of something I just
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Richard Carthon: experienced on this. So in the Solana ecosystem, for example, I was trying to get into one of the cryptos are a lot ecosystem, so I was trading out of it to get into USDC
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Richard Carthon: and I was going to
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Richard Carthon: send the USDC back to my Ethereum was to get liquidity. Be able to get into another type of investment opportunity. Well, it turns out because there are two different blockchains that USDC on Solana’s blockchain is not the same
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Richard Carthon: as the theorem, so it wouldn’t work.
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Richard Carthon: I was like, Oh my gosh, how do I fix this? So I went down a rabbit hole
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Richard Carthon: for almost an
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Richard Carthon: entire who hours trying to figure out how to do this. Ultimately, what I figured out was that I would have to trade back into like baseline to move it to my Coinbase
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Richard Carthon: move from my Coinbase
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Richard Carthon: back into a theory or move theory on back into like it was, it was so many more steps than it needed
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Richard Carthon: to be, and I was like, There’s
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Richard Carthon: got to be something simpler to get this solved,
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Richard Carthon: and it sounds like the bridge is going to help do that. Absolutely. Yeah. And our
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Richard Carthon: ultimate goal is made
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Richard Carthon: debriefs like an internet
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Richard Carthon: of blockchain, because when you use internet, you have no idea how to keep pipes working, right?
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Richard Carthon: So when you
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Richard Carthon: use when you made cross-chain swaps or do a liquidity transfer between different blockchains or just go to your personal wallets like MetaMask, or you can go to one and you perform the cross-chain swap there, and you have no idea that there is a deep breach under the hood because cross-chain interoperability is, first of all, a user experience. It should be very
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Richard Carthon: smooth,
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Richard Carthon: and users
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Richard Carthon: don’t need to know that there
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Richard Carthon: is some
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Richard Carthon: complicated protocols underneath. And yeah, that’s
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Richard Carthon: why it is very important and we can. I should be doing the
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Richard Carthon: general public about
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Richard Carthon: the way
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Richard Carthon: we weave in the multichain world, why the
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Richard Carthon: future is multichain,
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Richard Carthon: because we already we already have way
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Richard Carthon: more than
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Richard Carthon: 100 public blockchains. And the problem that
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Richard Carthon: all these chains are evolving
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Richard Carthon: independently.
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Richard Carthon: And if you want to
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Richard Carthon: transfer some assets between them, you have to use
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Richard Carthon: some centralized bridges or exchanges. And the problem that there is no unified standards. So for every specific blockchain, you need
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Richard Carthon: to do research
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Richard Carthon: to
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Richard Carthon: understand what bridge exists
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Richard Carthon: and whether
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Richard Carthon: the yes, if you can,
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Richard Carthon: you will transfer
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Richard Carthon: to recreate at all because it may turn out
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Richard Carthon: that you have cropped up as you had and you will not be able to do anything
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Richard Carthon: with it.
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Richard Carthon: And yeah, that’s that’s one of the points that and it needed to be solved.
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Richard Carthon: It’s a big point and it’s interesting, especially with even like the name the bridge finance, there is a re-occurring like saying that I have on the show. I’m for what they could to kind of get to know what it is. There’s too many islands in the world of crypto right now, and everyone’s trying to build the biggest, coolest island and tell people to come to their island, but not enough bridges. And the more bridges that are made to help create interoperability,
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the better the crypto world becomes.
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And right now, all y’all are
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literally building the infrastructure
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Richard Carthon: in the bridges to make that a reality. So I think that’s really awesome, needed
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Richard Carthon: and kind of walk us through
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Richard Carthon: like where y’all are in the process. So like right now, if somebody was having the same challenge I just had recently. Walk me through how I’d be able to come on to the bridge and get that resolved.
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Richard Carthon: Hey, cryptocurrency, true, this is Steve Miller, and I’m the host of CC Live Show that keeps you up to date with what’s poppin off in crypto land. Every episode of CSI Live brings you the latest news keeps you updated on the top projects in decrypts everything you need to know to get ahead in the wild world of Web3. So if you really want to stay cryptocurrency, join Richard, Chris and I every Tuesday and Friday at seven p.m. Eastern, only on YouTube Live. So what are you waiting for? Subscribe to cryptocurrency YouTube channel today and as always, stay cryptocurrency
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Richard Carthon: for sure.
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Richard Carthon: So right now we’re on this page when we are not life yet. We already have the code ready for deployment, and we’ve got some really exciting, some really great security audit partners by Karl in Tokyo, who already perform the audit. Our code base behind it’s a massive tab, so it’s basically not only for you and your audience. Yeah, but we’ll announce it very soon. We already have a
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Richard Carthon: testnet for quite some time for like five months, but
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Richard Carthon: within the last few weeks we’ve got the final version, upgraded version of
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Richard Carthon: the Tesla battery
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Richard Carthon: and the which we perform a great internal testing in our team. And we also track down validators
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Richard Carthon: and infrastructure providers to perform
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Richard Carthon: testing. And next week it will open up the test for
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Richard Carthon: public so that any user will be able to
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Richard Carthon: perform transfer of assets
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Richard Carthon: between blockchains.
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Richard Carthon: Yeah, we start from giving chase
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Richard Carthon: and basically, if you’re really
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Richard Carthon: compatible, blockchains
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Richard Carthon: like
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Richard Carthon: Imperium, Binance Smart Chain
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Richard Carthon: tackle Arbitron and Polygon. And on the road, we will add more and more
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Richard Carthon: blockchains
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Richard Carthon: and nonevent, and Solana will be the
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Richard Carthon: first known around the world and that we
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Richard Carthon: will support
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Richard Carthon: and one of the exciting, exciting features of the
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Richard Carthon: bridge that users will be able to
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Richard Carthon: freely move. You not only really event
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Richard Carthon: chains, but also
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Richard Carthon: from. Let’s say from Solana to arbitral, then from our mission to Tehran and without any limitations, so the user experience should be incredible because I personally work on
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Richard Carthon: the product because I’m I’m really, um, I’m
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Alex Smirbov: a great user experience, you know, and I’m like a product manager.
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I really want to have all the processes
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to be
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very smooth.
00:15:24:19 – 00:15:31:00
And because when when some developers develop products, they usually don’t care about the product design that much.
00:15:31:12 – 00:15:40:29
Richard Carthon: Don’t think about UI, and that can be a major hindrance. So I’m glad that you are very project focused and UI focused, though that’s it’s important
00:15:41:10 – 00:15:52:11
Alex Smirbov: I try to push it forward because in my opinion, interpretable do. It is all about who you are and you’re going to have really great product. You can have something sophisticated, but new users will
00:15:52:13 – 00:15:53:17
Richard Carthon: not choose it because it’s too
00:15:53:19 – 00:15:54:26
Richard Carthon: complicated. You just need to keep
00:15:54:28 – 00:15:57:08
Richard Carthon: things simple and user friendly, of course.
00:15:58:13 – 00:16:03:03
Richard Carthon: No doubt, and is the simpler you make things, the harder it is in the background to
00:16:03:05 – 00:16:04:22
create it ironically,
00:16:04:29 – 00:16:10:06
Richard Carthon: which is, I think, always a forward thinking way of like how do we get to mass adoption?
00:16:10:08 – 00:16:11:18
Richard Carthon: How do you get to product
00:16:11:20 – 00:16:15:12
Richard Carthon: market fit, all these great, um, entrepreneurial startup
00:16:15:14 – 00:16:16:20
Richard Carthon: life types of
00:16:17:04 – 00:16:30:27
Richard Carthon: things you think about, but it’s essential to the future of cryptocurrency. And as the audiences get larger, having a just quick way to get a lot of these things solved without them even realizing they’re having to do all this in the background.
00:16:30:29 – 00:16:32:04
So I think you definitely
00:16:32:06 – 00:16:41:13
Richard Carthon: have that, that mindset, right? And thank you for sharing that exclusive news with the audience. I know everyone who is going to be excited to hear that, and we’ll make sure they get that out to
00:16:41:22 – 00:16:43:13
Richard Carthon: everyone, especially once
00:16:43:15 – 00:16:45:29
Richard Carthon: all this is ready to go. But, you know, one of the things that you brought
00:16:46:01 – 00:16:47:13
Richard Carthon: up to that I kind of just want to
00:16:47:15 – 00:16:52:24
Richard Carthon: go back and revisit for a second is you brought the concept of of multichain is what you think a lot of crypto is going to continue to go in
00:16:52:26 – 00:16:54:11
Richard Carthon: that direction. You kind of unpack
00:16:54:13 – 00:16:55:02
Richard Carthon: that a little bit more.
00:16:55:22 – 00:16:59:14
Richard Carthon: Sure. Basically, we already live in a blockchain in a multichannel
00:16:59:16 – 00:17:00:21
Richard Carthon: world by my.
00:17:01:27 – 00:17:02:26
Richard Carthon: I think as
00:17:02:28 – 00:17:04:05
Richard Carthon: humans, we have that number of
00:17:04:07 – 00:17:05:04
Richard Carthon: locations where we can
00:17:05:06 – 00:17:07:08
Richard Carthon: increase because there are some new
00:17:07:10 – 00:17:07:25
Richard Carthon: blockchain
00:17:07:27 – 00:17:09:19
Richard Carthon: that solve specific problems.
00:17:10:08 – 00:17:11:21
Richard Carthon: There are some new blockchain that
00:17:11:23 – 00:17:13:10
Richard Carthon: just forks, others
00:17:13:12 – 00:17:14:08
Richard Carthon: with New
00:17:15:10 – 00:17:16:03
Richard Carthon: Orleans,
00:17:16:12 – 00:17:20:09
Richard Carthon: and the problem of questioning interoperability
00:17:20:11 – 00:17:24:04
Richard Carthon: will be more and more important. But this kind of
00:17:24:13 – 00:17:25:00
Richard Carthon: ecosystem
00:17:25:02 – 00:17:26:26
Richard Carthon: fragmentation leads to
00:17:26:28 – 00:17:43:10
Richard Carthon: fragmentation of competitive environment is the fragmentation of liquidity and many other things. So we already have fragmentation would be needed for quite some time reading. For example, giving one specific blockchain system created this fragmented among different protocols.
00:17:43:22 – 00:17:45:01
Richard Carthon: But we have solutions, right?
00:17:45:03 – 00:17:45:21
Richard Carthon: We have one
00:17:45:23 – 00:17:48:00
Richard Carthon: inch, for example, the
00:17:48:02 – 00:17:48:17
Richard Carthon: protocol
00:17:48:19 – 00:17:49:18
Richard Carthon: that aggregates
00:17:49:20 – 00:17:51:23
Richard Carthon: what we do differently from liquidity because for
00:17:51:25 – 00:17:53:04
Richard Carthon: the best exchange rate.
00:17:53:16 – 00:17:55:09
Richard Carthon: But what if I, as a user, what if I
00:17:55:11 – 00:17:57:05
Richard Carthon: want to perform cross-chain swaps
00:17:57:18 – 00:17:59:24
Richard Carthon: and how can I aggregate liquidity
00:17:59:26 – 00:18:02:09
Richard Carthon: in this case? And I think this will
00:18:02:11 – 00:18:03:06
Richard Carthon: be one of the
00:18:03:08 – 00:18:06:23
Richard Carthon: problem that the bridge will solve as well. And we
00:18:06:25 – 00:18:09:21
Richard Carthon: hope to be integrated with these aggregators so that
00:18:09:23 – 00:18:11:10
Richard Carthon: people or you so
00:18:11:12 – 00:18:12:21
Richard Carthon: that users who use the same
00:18:13:09 – 00:18:16:06
Richard Carthon: product that they are used to use.
00:18:16:15 – 00:18:24:08
Richard Carthon: And another interesting highlight would be fragmentation of competitor when buyer because let’s say we have
00:18:24:21 – 00:18:26:21
Richard Carthon: lots of DEXs memory.
00:18:27:00 – 00:18:27:15
Richard Carthon: You need
00:18:27:17 – 00:18:28:20
Richard Carthon: the system. For example,
00:18:28:22 – 00:18:30:02
Richard Carthon: on Binance Smart Chain, we have a
00:18:30:04 – 00:18:33:14
Richard Carthon: pancake store, we have a bakery store in
00:18:34:26 – 00:18:36:16
Richard Carthon: the room, we have sushi, we have
00:18:36:18 – 00:18:40:00
Richard Carthon: Uniswap in London. We kind of like freedom, another protocol.
00:18:40:10 – 00:18:44:00
Richard Carthon: And now all these protocols come retrieving one specific ecosystems
00:18:45:06 – 00:18:45:21
Richard Carthon: specific
00:18:45:23 – 00:18:46:08
Richard Carthon: ecosystem.
00:18:46:10 – 00:18:48:13
Richard Carthon: And as soon as we have true
00:18:48:17 – 00:18:52:08
Richard Carthon: interoperability, all of these projects, we will compete with
00:18:52:10 – 00:18:55:28
Richard Carthon: each other. And I believe that that will drive competition
00:18:56:00 – 00:18:56:15
Richard Carthon: to the
00:18:56:17 – 00:18:57:18
Richard Carthon: next level. And at the
00:18:57:20 – 00:19:01:09
Richard Carthon: same time, projects will start to think more about user experience
00:19:01:29 – 00:19:02:14
Richard Carthon: to
00:19:02:16 – 00:19:05:08
Richard Carthon: your ex are just to get the share of the
00:19:05:10 – 00:19:06:08
Richard Carthon: market because once
00:19:06:10 – 00:19:09:16
Richard Carthon: we have a unified ecosystem to be much more
00:19:09:18 – 00:19:11:15
Richard Carthon: difficult to get in there
00:19:11:26 – 00:19:13:18
Richard Carthon: to get the market share in general.
00:19:14:23 – 00:19:31:00
Richard Carthon: Oh, agreed. And once innovation is forced, you have an option because a better experience has been created and you either adapt or die. That’s when people show up, right? Right. Like you said, right now, there’s all these different ecosystems and people are just trying to get their market share within
00:19:31:02 – 00:19:32:14
Richard Carthon: those different blockchain
00:19:32:16 – 00:19:42:11
Richard Carthon: ecosystems. But then once you’re able to create a thing like the bridge that puts everything on the same equal playing field, it then becomes a matter of all right. Well, now that all these are the same playing field, whichever one has the best
00:19:42:13 – 00:19:43:15
Richard Carthon: experience, users are
00:19:43:19 – 00:20:00:19
Richard Carthon: going to go in that direction. So competition is not always a bad thing actually helps with. Innovation in making things smoother, but like you said, the better user experience, the more. The more you’re going to get the the users to show up and tell their people,
00:20:00:21 – 00:20:01:28
Richard Carthon: Hey, here’s how you
00:20:02:00 – 00:20:06:06
Richard Carthon: get these things done and are getting these warm referrals from from
00:20:06:08 – 00:20:07:24
Richard Carthon: other people. So I think I’ll definitely
00:20:07:26 – 00:20:14:07
Richard Carthon: have the right mindset with that. And one other thing, the one more thing I want to talk about about the British is
00:20:14:09 – 00:20:16:29
Richard Carthon: you brought up cross-chain interoperability
00:20:17:01 – 00:20:18:15
Richard Carthon: for NFT and metaverse is
00:20:18:25 – 00:20:20:19
Richard Carthon: huge. Right. So, you know,
00:20:20:27 – 00:20:29:19
Richard Carthon: just recent news that came out even in Facebook, where they’re looking to like, truly launch into the metaverse and like trying to get into all of
00:20:29:21 – 00:20:31:07
Richard Carthon: that and like how important
00:20:31:19 – 00:20:41:09
Richard Carthon: and huge this future of metaverse is. Can you kind of speak to how the bridge is going to help with linking a lot of these entities and other things within the space
00:20:41:20 – 00:20:48:10
Richard Carthon: of sort of the fragmentation of NFT is basically the same problem as fragmentation of liquidity or fragmentation of the entire
00:20:48:12 – 00:20:51:04
Richard Carthon: ecosystem. Because now we have NFT
00:20:51:10 – 00:20:55:17
Richard Carthon: theory on Polygon is getting really good momentum because transactions are
00:20:55:19 – 00:20:58:00
Richard Carthon: very cheap and OpenSea
00:20:58:02 – 00:20:59:05
Richard Carthon: supports Polygon.
00:20:59:07 – 00:21:01:29
Richard Carthon: So. And we also artists
00:21:02:24 – 00:21:06:27
Richard Carthon: move to Polygon ecosystem in order to avoid spending too much
00:21:08:00 – 00:21:10:04
Richard Carthon: if for like just prices.
00:21:10:08 – 00:21:10:23
Richard Carthon: And
00:21:12:06 – 00:21:25:07
Richard Carthon: right now, we have many ecosystem for NFT as well. We have a group of banks and we have a flow blockchain. We have August infinity and we can’t right now. We can’t actually
00:21:25:09 – 00:21:26:20
Richard Carthon: move our NFT
00:21:26:22 – 00:21:34:16
Richard Carthon: in between all these metaverse, its story based ecosystems. But it would be really cool if, for example, I can move my crypto bank hybrid
00:21:34:24 – 00:21:35:28
Richard Carthon: as our tower.
00:21:36:00 – 00:21:38:11
Richard Carthon: In my getting words this time around with
00:21:38:13 – 00:21:39:24
Richard Carthon: the Solana and
00:21:39:29 – 00:21:40:14
Richard Carthon: any
00:21:40:16 – 00:21:41:22
Richard Carthon: user, any other
00:21:41:24 – 00:21:45:10
Richard Carthon: gamer will be able to see that I’m the owner of this crypto buying because
00:21:45:12 – 00:21:46:27
Richard Carthon: it’s on my water and
00:21:46:29 – 00:21:51:05
Richard Carthon: many more things can be done. And one of the applications of
00:21:51:07 – 00:21:52:21
Richard Carthon: cross-chain interoperability for
00:21:52:23 – 00:21:58:27
Richard Carthon: Metaverse is especially for games, would be to sell my game assets on OpenSea
00:21:59:06 – 00:22:00:03
Richard Carthon: directly from
00:22:00:05 – 00:22:00:23
Richard Carthon: beginning
00:22:00:25 – 00:22:02:16
Richard Carthon: to free and just create
00:22:02:18 – 00:22:04:16
Richard Carthon: the tomatoes and would say I sold my
00:22:04:18 – 00:22:05:23
Richard Carthon: store or I
00:22:06:00 – 00:22:10:15
Richard Carthon: purchased something, or I transferred my assets to some
00:22:10:17 – 00:22:11:03
Richard Carthon: other game.
00:22:11:20 – 00:22:16:12
Richard Carthon: And that’s really a matter of imagination. And as soon as we have truly
00:22:16:14 – 00:22:18:24
Richard Carthon: interoperable ecosystems,
00:22:19:10 – 00:22:21:22
Richard Carthon: I think that the developers and users
00:22:21:25 – 00:22:22:12
Richard Carthon: will come up
00:22:22:14 – 00:22:24:02
Richard Carthon: with so many great ideas
00:22:24:04 – 00:22:25:13
Richard Carthon: that we can’t even
00:22:25:15 – 00:22:26:19
Richard Carthon: imagine right now.
00:22:28:12 – 00:22:54:17
Richard Carthon: Agreed, and the future of gaming is really exciting. The ability to have all of these incredible in it’s and then be able to like use them in the games that you use, like the way I like to describe one of the games that a lot of people in the world know is like a call of duty or like a um. Or will just day that it was, they would call it. Imagine being able to buy NFTs for Call of Duty, and you can then
00:22:54:19 – 00:22:56:08
Richard Carthon: just use them as you move
00:22:56:10 – 00:23:05:12
Richard Carthon: from one series to the next, or even being able to take like one of the newer types of NFTs from a newer game, then going on back to an old game and then be able to use
00:23:05:14 – 00:23:09:09
Richard Carthon: it in that like that kind of concept is insane. And that’s the kind of
00:23:09:19 – 00:23:13:03
Richard Carthon: cool features that are kind of in the horizon for for a blockchain.
00:23:13:12 – 00:23:17:00
Richard Carthon: Absolutely. As a game or yeah, I used to get a lot of back in school and
00:23:17:02 – 00:23:18:23
Richard Carthon: I played well, World of Warcraft
00:23:19:10 – 00:23:24:13
Richard Carthon: and Bernanke was like to get some specific achievements within this
00:23:24:15 – 00:23:25:27
Richard Carthon: game. And just imagine
00:23:25:29 – 00:23:27:28
Richard Carthon: that achievement is an NFT, which
00:23:28:00 – 00:23:29:13
Richard Carthon: is unlocked, and then
00:23:29:15 – 00:23:36:00
Richard Carthon: you can pass it to the new version of the game, or you can kind of showcase it in your NFT
00:23:36:02 – 00:23:38:02
Richard Carthon: based bar. So, so yeah,
00:23:38:21 – 00:23:41:15
Richard Carthon: I think gaming real gaming industry will be the
00:23:41:17 – 00:23:44:07
Richard Carthon: next onboarding funnel and crypto
00:23:44:09 – 00:23:50:04
Richard Carthon: industry because so much more millennials and young guys are getting preferred, usually
00:23:52:12 – 00:23:53:07
Richard Carthon: getting involved
00:23:53:10 – 00:23:56:18
Richard Carthon: in the gaming industry. And last week I went to
00:23:56:20 – 00:23:58:01
Richard Carthon: Lisbon actually, and
00:23:58:14 – 00:24:11:20
Richard Carthon: I was talking to the girl from Uniswap. True name is awesome. She told the story how she got in crypto like six years ago when she played World of Warcraft, and she just sold his soul cure
00:24:12:20 – 00:24:14:18
Richard Carthon: cure all for some, for
00:24:14:20 – 00:24:18:20
Richard Carthon: some amount of bitcoins, and she started to dig deeper and understand why probably
00:24:18:22 – 00:24:20:00
Richard Carthon: blockchain works.
00:24:20:08 – 00:24:23:09
Richard Carthon: And that was like someone years back, and now
00:24:23:11 – 00:24:26:12
Richard Carthon: it’s kind of easier to get on board is
00:24:26:14 – 00:24:27:14
Richard Carthon: there to understand.
00:24:27:27 – 00:24:29:09
Richard Carthon: And yeah, I think
00:24:29:21 – 00:24:33:19
Richard Carthon: gaming will be even stronger with the huge
00:24:33:21 – 00:24:35:19
Richard Carthon: funnel for users
00:24:35:22 – 00:24:36:07
Richard Carthon: of
00:24:36:11 – 00:24:37:09
Richard Carthon: NFT, of course.
00:24:38:18 – 00:24:52:23
Richard Carthon: Definitely. Uh, it brings together a lot of communities all across the world, and it’s one of the fastest moving in the space and has a lot of people motivated to figure out how blockchain works. So I think it’s really cool,
00:24:52:25 – 00:24:55:25
Richard Carthon: especially just even the concept being able to bring a AR
00:24:55:27 – 00:25:11:27
Richard Carthon: VR metaverse all together into one place. It’s going to be a really, really cool place to be, you know, for all my listeners out there, you know that we’ve talked about gaming a couple of times this year. It’s it’s something to be looking out for, for sure.
00:25:12:03 – 00:25:13:14
Richard Carthon: But everyone listening to
00:25:13:16 – 00:25:18:11
Richard Carthon: this today definitely needs to be looking out for the bridge and how they’re basically bringing all these different elements from cross-chain
00:25:18:13 – 00:25:22:00
Richard Carthon: entities, everything into one place. We can get all of that accomplished.
00:25:22:02 – 00:25:29:00
Richard Carthon: So I think what you’ll have is amazing. Definitely want people to be able to learn more about it. But before
00:25:29:02 – 00:25:29:29
Richard Carthon: you kind of give us more
00:25:30:01 – 00:25:36:24
Richard Carthon: information on that, I have two final fun questions I want to throw at you with all the information you have gained through
00:25:36:26 – 00:25:38:10
Richard Carthon: the years. And if you can impart
00:25:38:12 – 00:25:40:21
Richard Carthon: one or two pieces of wisdom to yourself when you first got
00:25:40:23 – 00:25:41:19
Richard Carthon: into the crypto
00:25:41:21 – 00:25:44:06
Richard Carthon: blockchain space, what would you tell yourself?
00:25:46:25 – 00:25:49:23
Richard Carthon: I would tell myself that I
00:25:49:25 – 00:25:54:07
Richard Carthon: need to be kind of older. I need to hold more, you know, because
00:25:55:20 – 00:25:56:19
Richard Carthon: I realize that
00:25:57:02 – 00:26:02:12
Richard Carthon: I have kind of a paper hands and I read a lot of that during the crypto winter. They can
00:26:02:22 – 00:26:03:15
Richard Carthon: be
00:26:03:17 – 00:26:08:24
Richard Carthon: 18, 2019. But I think that people should have kind of a strong belief
00:26:09:03 – 00:26:15:16
Richard Carthon: into what they are doing. And belief and reputation are two
00:26:15:18 – 00:26:17:15
Richard Carthon: main components in the
00:26:18:02 – 00:26:18:17
Richard Carthon: crypto
00:26:18:19 – 00:26:21:01
Richard Carthon: world. And if you truly believe in some
00:26:21:03 – 00:26:22:08
Richard Carthon: projects, just
00:26:22:17 – 00:26:25:00
Richard Carthon: get involved, just be active with the
00:26:25:04 – 00:26:29:15
Richard Carthon: ecosystem. And HODL, that’s both.
00:26:30:03 – 00:26:36:12
Richard Carthon: Oh oh, what you need in order to get to success in the crypto industry. And of course, you need to be
00:26:36:14 – 00:26:38:01
Richard Carthon: passionate about what you’re
00:26:38:03 – 00:26:44:19
Richard Carthon: doing. Because for me, crypto is not like work, even though I work a lot. Almost 24000
00:26:44:21 – 00:26:46:09
Richard Carthon: and my wife sometimes
00:26:46:11 – 00:26:54:09
Richard Carthon: mad at me because I’m doing my science computer. But I think that for me, crypto is more like online. It’s more like communicating with people
00:26:54:21 – 00:26:56:28
Richard Carthon: and to do what I want. I like
00:26:57:00 – 00:26:57:15
Richard Carthon: and
00:26:58:07 – 00:26:59:22
Richard Carthon: I wish people would just get
00:26:59:24 – 00:27:02:03
Richard Carthon: on board in the industry to find
00:27:02:05 – 00:27:04:06
Richard Carthon: specific things that will
00:27:04:08 – 00:27:06:22
Richard Carthon: be fascinating for them, and
00:27:07:19 – 00:27:08:15
Richard Carthon: hopefully they will
00:27:08:17 – 00:27:09:16
Richard Carthon: come into the
00:27:09:18 – 00:27:10:25
Richard Carthon: company more
00:27:11:07 – 00:27:11:25
Richard Carthon: as
00:27:13:20 – 00:27:14:24
Richard Carthon: opposed to
00:27:14:28 – 00:27:21:01
Richard Carthon: being kind of a full time job because it’s better to have fun than to
00:27:21:03 – 00:27:22:20
Richard Carthon: be obliged to do something.
00:27:23:26 – 00:27:26:24
Richard Carthon: Agreed. So just to run that back to great lessons,
00:27:26:26 – 00:27:28:12
Richard Carthon: one HODL don’t have paper
00:27:28:14 – 00:27:41:29
Richard Carthon: hands. So for all those new in the space you hear about paper, hands, dominance, paper hands just means that when markets start going down and things go down, you sell and you, you try to like, you know, the risks being able to lose with diamond hands. No matter
00:27:42:01 – 00:27:43:13
Richard Carthon: what’s going on there, nice and
00:27:43:15 – 00:27:44:19
Richard Carthon: strong, you’re not going anywhere.
00:27:44:21 – 00:27:46:18
Richard Carthon: You’re holding on to them. And typically,
00:27:46:20 – 00:28:03:18
Richard Carthon: when you have diamond hands, you hold on for a longer period of time. You typically when you typically when in a big way. So that piece of wisdom and then find your passion. There’s so much opportunity in the crypto blockchain space. Be passionate about what you do and you find out what your passion is first off. And then once you find that passion, you find a way to be
00:28:03:20 – 00:28:05:20
Richard Carthon: able to use that in this space and
00:28:05:26 – 00:28:14:03
Richard Carthon: create a living as well, which I’m pretty confident you can find a way to do that in this space. It’s it’s amazing. It really doesn’t feel like work. It’s the old cliche you like.
00:28:14:05 – 00:28:16:06
Richard Carthon: It really is just a passion
00:28:16:08 – 00:28:28:19
Richard Carthon: driven way to work really hard on something that’s creating value, but you don’t feel taxed about it or it doesn’t feel like a chore. It really gives you it gives you energy. Even though you’re putting out energy, you’re actually getting energy from doing it.
00:28:28:21 – 00:28:29:19
Richard Carthon: So definitely go
00:28:29:21 – 00:28:37:13
Richard Carthon: and find that, Alex. I think that’s a a great two lessons. But as we wrap up here, man, what is a final thought that you want to leave with all of our listeners?
00:28:39:10 – 00:28:40:21
Richard Carthon: The final thought would
00:28:40:23 – 00:28:45:06
Richard Carthon: be be yourself. And crypto is really fascinating, but
00:28:45:08 – 00:28:46:17
Richard Carthon: don’t forget to
00:28:47:07 – 00:28:51:07
Richard Carthon: spend time with family and friends and take some rest
00:28:51:18 – 00:28:55:08
Richard Carthon: from the online and offline.
00:28:55:10 – 00:28:59:20
Richard Carthon: I call it now visit of metaverse and do
00:28:59:22 – 00:29:01:18
Richard Carthon: it more often because that’s really important
00:29:02:00 – 00:29:08:02
Richard Carthon: and it’s really important to combine online, offline,
00:29:08:27 – 00:29:09:17
Richard Carthon: real world
00:29:09:21 – 00:29:10:06
Richard Carthon: and
00:29:10:20 – 00:29:12:04
Richard Carthon: be yourself and be passionate
00:29:12:09 – 00:29:15:21
Richard Carthon: and do what it’s like.
00:29:17:08 – 00:29:21:08
Richard Carthon: I think that’s a great of a great final thought. Just another great
00:29:21:10 – 00:29:22:25
Richard Carthon: reminder that everyone
00:29:22:27 – 00:29:39:21
Richard Carthon: in the world of crypto, everything’s 24-7 and it’s always on, and it’s very easy when you’re wrapped up in this world to always be on and be focused on everything going on at once. You can’t be at all places all at once and be learning about everything because everything is just so fresh and new at all times. Being able to turn that off
00:29:40:04 – 00:29:41:23
Richard Carthon: strategically to be able to connect
00:29:41:25 – 00:29:44:26
Richard Carthon: back in the real world, create those relationships, enjoy life,
00:29:45:16 – 00:29:46:24
Richard Carthon: it’s important. So it’s
00:29:46:26 – 00:29:47:12
Richard Carthon: a good reminder
00:29:47:14 – 00:29:48:23
Richard Carthon: today. Alex, thank you for that
00:29:48:25 – 00:29:53:20
Richard Carthon: reminder to make sure you incorporate that into your life. It’s very easy to get wrapped up in the
00:29:53:22 – 00:29:55:05
Richard Carthon: nonstop world of crypto.
00:29:55:15 – 00:29:59:16
Richard Carthon: So, Alex, thank you so much again for all that information. What are ways that people can learn more
00:29:59:18 – 00:30:01:18
Richard Carthon: about you and learn more about the bridge?
00:30:02:25 – 00:30:03:27
Richard Carthon: I have a Twitter account.
00:30:05:02 – 00:30:05:25
Richard Carthon: It’s Alex
00:30:05:27 – 00:30:06:23
Richard Carthon: and turn off and
00:30:06:27 – 00:30:10:08
Richard Carthon: the bridge as Twitter as well, and just
00:30:10:10 – 00:30:11:23
Richard Carthon: subscribe to our social media,
00:30:12:07 – 00:30:12:25
Richard Carthon: Twitter,
00:30:12:27 – 00:30:13:20
Richard Carthon: Telegram
00:30:14:07 – 00:30:15:22
Richard Carthon: and Discord. We try
00:30:15:24 – 00:30:17:03
Richard Carthon: to keep our community updated,
00:30:17:17 – 00:30:18:22
Richard Carthon: and we will be
00:30:18:24 – 00:30:22:04
Richard Carthon: happy to share more about the cross-chain interoperability
00:30:22:17 – 00:30:25:02
Richard Carthon: about the crypto in general and
00:30:26:17 – 00:30:28:11
Richard Carthon: fan page. And you can also
00:30:28:24 – 00:30:31:06
Richard Carthon: talk to my telegram by DMs are
00:30:31:08 – 00:30:34:00
Richard Carthon: open. And I would be glad to have really interesting
00:30:34:02 – 00:30:36:18
Richard Carthon: conversations with all your guys.
00:30:38:06 – 00:31:07:01
Richard Carthon: Excellent. Well, Alex, thank you again, so much for joining us today and for everyone listening. Stay cryptocurrency. Hey, cryptocurrency crew. We want to give a quick shout out to all of our faithful listeners out there. It’s been an amazing journey and we really appreciate your support throughout the years as we’ve been growing as a community. Each episode, we decided that we would start sharing some of the reviews that you were leaving for us. For today, we would like to share this review. Today’s review comes from OEMs 21 exciting info on crypto and what’s going on in the industry. Love the energy Richard
00:31:07:03 – 00:31:08:07
Richard Carthon: brings with the guests.
00:31:08:16 – 00:31:42:29
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00:31:43:08 – 00:32:18:21
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00:32:28:15 – 00:32:37:12
Richard Carthon: Thanks for tuning into another episode of cryptocurrency with Richard Condon. We’ll be back with more exciting developments from the world of blockchain and cryptocurrency next.
00:32:38:12 – 00:32:41:11
Richard Carthon: But until then, stay crypto current.
00:32:50:27 – 00:32:53:09
Richard Carthon: Three U.S. senators now.
00:32:58:01 – 00:33:32:21
Richard Carthon: Thank you for joining us for another episode of cryptocurrency. Just one quick reminder cryptocurrency is a cryptocurrency and blockchain education platform that’s bridging the gap between the curious newcomers who are just discovering the space and the thought leaders who are shaping its future. All opinions expressed by Richard Cawthorne, the cryptocurrency team, and their guests on this show are exclusively their own opinions. You should not treat any opinion expressed by Richard. The team and their guests as a specific inducement to make a particular investment or to follow his financial advice. This show and any other crypto current production is exclusively for informational purposes.
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