Beau Olson on helping dApps Deliver Value on Transient Network (Episode 235)
Beau Olson joins us to discuss helping dApps Deliver Value on Transient Network.
Beau: With over 15 years of technology experience working for large corporations, executing large-scale projects and delivering teams, Beau Olson developed unique skills while playing several important roles, such as Product Delivery, Infrastructure, Program and Operations Management. With that experience has established himself as a true expert in executing roadmaps and technology delivery.
The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:01:07:03 – 00:01:32:13
Richard Carthon: Hello, everyone, welcome to another episode of Crypto Current, your host here, Richard Carthon, and it’s a they have a special guest all the way in Queensland, Australia, working on a project, you definitely need to learn more about exciting stuff happening to help bring blockchain to the masses and helping it become a lot more interoperable. So when it’s being used, you don’t necessarily know you’re using blockchain, but that’s the whole point of mass adoption. I’ll let Bo speak about this a little bit more. We have both but transient network. How are you doing today?
00:01:34:08 – 00:01:35:17
Beau Olson: Thank you. How are you, man?
00:01:35:24 – 00:01:45:01
Richard Carthon: Amazing. I appreciate you waking up early to spend some time with us today. But before we learn more about all that you have going on, I want to learn more about you. Can you give us some background on yourself?
00:01:46:21 – 00:02:26:13
Beau Olson: Sure, say both. Obviously, leaders of transients and I come from a background from a technology perspective where I’ve spent the last 15, 16 years within the industry looking at how we bring sort of multinational traditional finance products and digital experiences to the world. And that led to really be quite scaled program management and data driven assignments along the way. So that really the focus on the Omanis payments space in terms of online gambling, fintech and insurance are coming into the blockchain space.
00:02:27:03 – 00:03:05:04
Beau Olson: With that experience and hopefully being able to balance the two. So for me, blockchain really started to ramp up in my experiences through the online entertainment industry and trying to understand how we could leverage new ways from a payment perspective and utilizing blockchain and crypto as a differentiated experience that wasn’t being provided in the market. And that was sort of four or five years ago and just really tipping my toe in to the experience and the opportunities it represented and the advantages that it had, even at that point really got my curiosity started within within the space and.
00:03:05:16 – 00:03:07:05
Beau Olson: And here we are now, some years later.
00:03:07:21 – 00:03:32:03
Richard Carthon: Right now, that’s a good transition into the world of crypto. So it sounds like you’re in and around 2016, 2017 and you were just trying to figure out how we could expedite processes utilizing blockchain technology. And as you started to look into this field. What made you decide, OK, this is a direction I know I want to go into because it looks like it potentially could be the future or kind of walk us through what that was like?
00:03:33:07 – 00:04:06:10
Beau Olson: Yeah, I think with most things, when there’s a little bit of a challenge and a little bit of a stigma around whether it’s technology or even principles in life, when there’s a little bit of pushback, generally you’re onto something. And I think when when you start to get questions around how how is it going to be utilized in in a real world setting and people can say almost as a challenge to the norm. I think that’s a really good indicator as to when you are on to something that’s going to be big. And we could see that and we can say it now within within this sort of mainstream media.
00:04:06:12 – 00:04:20:17
Beau Olson: And so the rhetoric around blockchain as an industry is generally when when you’re onto something and people are trying to stop, it is generally success on the other side. And we’re definitely seeing that at the time, definitely.
00:04:20:19 – 00:04:44:28
Beau Olson: And it’s just interesting to see to how much the industry has evolved over the last four or five years and how much more people are starting to realize that the importance around the underlying technology that is blockchain as opposed to, you know, the cryptocurrencies and how they can impact but really getting to the nuts and bolts of of the technology itself. So tell us a little bit about transient network in the core of what you are trying to accomplish.
00:04:45:24 – 00:05:23:00
Beau Olson: Yeah. So the core is and stemming from my experiences in that sort of corporate traditional world around demystifying blockchain. And I think you mentioned in your opening, it’s it’s how do we bring that since it into the ecosystem where you are not aware of what you’re actually utilizing under under the hood and transient is the opportunity for us to create a marketplace of specific use case steps where it really breaks down the barriers of adoption by providing DApps to users that may not be coders.
00:05:23:10 – 00:05:55:11
Beau Olson: We want, we don’t want or need facility developers across each of our apps to utilize. We want to ensure that we’re bringing a number of years cases via our assets and our marketplace to those that potentially have barriers in front of them. And one of them is programming skills. One of them is blockchain experience. And then just an understanding in general around blockchain and smart contracts, particularly so transient and its marketplace will cater to varying and use cases.
00:05:55:21 – 00:06:33:24
Beau Olson: We have products already on on May Net, which is our core products, IATSE Core. And that’s really geared around that crypto first use case around giving the ability for anybody, anywhere, any time to create a smart contract to facilitate deposits, transfers, even digital signatures at the moment. So they’re being utilized with some of our vendors already, which is great and taking away the need of manual payments within the ecosystem, some giving opportunity for people to utilize that create a smart contract themselves.
00:06:34:12 – 00:07:02:02
Beau Olson: And just as you mentioned, not even realizing you’re actually creating a smart contract, which is the best of all. So we will hit a number of industries and. In the Amazon of smart contracts, which we’re calling ourselves, is the opportunity to bring together a marketplace that really is accessible for anyone, anywhere, any time, regardless of these guys, be wanting to build your smart contract for.
00:07:02:22 – 00:07:34:06
Richard Carthon: Well, so let’s just stay there for a second. So that’s a big, bold statement and definitely an eye catcher, right? So the Amazon of marketplaces for the world of blockchain. So walk me through because like when I think about initial Amazon experience, right? And you go on there and you’re looking for anything in the world, right? Whether you want to get a pencil or whether you want to go get a hat, anything in the world, you go there and you’re able to do it. So walk me through as a person listening to this, like how I’d be able to go to this marketplace and in so I go to get a product or like, kind of walk me through that.
00:07:35:03 – 00:07:57:08
Richard Carthon: Yeah. So first of all, this with the Amazon sort of then I wouldn’t even say comparison. But just having utilizing the terminology of any in the industry long enough, I’ve worked through the guys on numerous projects of these organizations and they can be considered within the same conversation of of. That is something that I strive to and and strive through, so.
00:07:59:18 – 00:08:39:21
Richard Carthon: Definitely no comparison in that sense, but the marketplace of coming in, as you said, having a seamless experience and then coming to a single repository or a single source of truth for your needs is where we want to play. So from a marketplace perspective, whether you’re coming from a crypto perspective and you’re wanting to facilitate transfers or smart contracts for payments, or whether or not you’re coming into our marketplace to launch our highly anticipated crypto call, which is a price prediction that which is will be our main niche within the next couple of weeks.
00:08:40:28 – 00:09:20:15
Richard Carthon: Or you could come in a couple of months and look at our e-sports stack where we’re providing the ability for the community to build their own pools and competitions based on the biggest tournament they sports and gaming world have. So it’s three that either actively in on my net or in development for and our roadmap for next year will continue to be built out. We have one launching very early in the year rounds of non-disclosure agreements where if you’re looking at working with an individual or a party, you’ve got some IP that you don’t want to be shared.
00:09:21:03 – 00:09:57:06
Richard Carthon: Shared posts that your coordination, whether it’s for investments or employment, you’ll be able to create your non-disclosure agreements in the transit network for our next gen contracts within the marketplace. So that’s all that I’ve just started off for. And that’s really, you know, touching the surface on the experiences we we want to deliver. And then we move into really pushing into the mainstream and we find e-sports in the gaming that will be our first catalysts into the bridge between crypto and.
00:09:58:16 – 00:10:30:11
Richard Carthon: And mainstream news cases, we think there’s a really big demographic there as well, that from a crypto and gaming perspective, where we find there’s many similarities of the fundamentals within the industry and we really expect that to be the first bridge for us into into that mainstream. So. And then we’ve got, you know, they’re hitting on insurance, which I think is going to be a big one into into the future. Facilitating on ramp off ramp incident claims is a big one for us in 2022.
00:10:31:05 – 00:10:53:21
Richard Carthon: And then we look to how else we expect fan experiences across across the globe. So yeah, if you come to us, we might be looking for you to say cool as you would on Amazon. You might walk away with it, say so you didn’t need or you might even get away with one of these transient hats. I’m not sure, but yeah, something will be there for you, whether you’re looking for it or not.
00:10:54:13 – 00:11:29:21
Richard Carthon: Awesome. And for all those who are listening, of course, check out our YouTube channel so you can see the amazing transient hat that boat is sporting. But man, like this is this is a pretty massive undertaking, like the fact that you’re trying to bridge all of these different gaps in marketplaces, from freelance work to product to smart contracts to pay and receive money. And even being able to like online sports betting like this is is a huge undertaking. So kind of break down like as far as we’re all kind of are on the road map and what are some immediate things that people listening right now would be able to come on Transient Network and be able to do?
00:11:30:19 – 00:12:04:15
Richard Carthon: Yeah, so perfect example, as a freelancer today, you are creating a website for a crypto company. Generally, you would create well, depending on how professional you are, you need to be creating an invoice or you be sending your MetaMask wallet address. Via a Telegram group that you don’t know who’s on the other side, they say their clients will then obviously when try to copy and paste that from from their I am into MetaMask and hope for the best.
00:12:04:21 – 00:12:39:21
Richard Carthon: That was the one that I was supposed to pay to reach with trains and to call that freelancer would simply create a smart contract within our network in a beautifully laid out UI. And they’re really easy to to navigate. Choose your own adventure style form filling as it would with any other sort of went to and below really familiar, particularly for the brand, this sort of marketing and digital world today, they’d be able to create that smart contracts put a date and time, the amount that’s required.
00:12:40:16 – 00:13:11:06
Richard Carthon: And as smart contracts will do that execute at the time they’re required and the client will then simply going to take a call. Click on the action and make the payment directly from our staff. So no copying and pasting metamask, no looking to see what the amount was, whether it’s USB-A or USB-C to be able to facilitate within the data without going anywhere and no room for error whatsoever removes the, you know, the issues.
00:13:11:08 – 00:13:18:02
Richard Carthon: We have payments payments after due dates and just the ease of which you can make those payments through.
00:13:20:00 – 00:13:53:05
Richard Carthon: To to your freelance designer or whoever that might pay for that. I happen to think we do have a Etherium say and a 13, so each of those operating today can be utilized for your for your needs. The next big one is crypto, Paul. So price itself across the industry is the end price conversation is is rife. And for us, it’s being able to integrate ourselves into that conversation.
00:13:53:16 – 00:14:31:03
Richard Carthon: And Crypto Bull is effectively a community driven price prediction platform that individuals can create. Price prediction pools around are to be paid 20 tokens, similar principle, creating a pool for prediction and then utilizing smart contracts. So the immediate distribution of those winnings so that what’s happening right now and will be, I mean, it’s hopefully sort of within the next two weeks from from now. So first like of December, we’re targeting and we find that one will be a really drive driven experience, particularly on BSE.
00:14:31:27 – 00:14:44:16
Richard Carthon: Even gas fees are low, and the ecosystem is is quite familiar with high volume type transactional volume. So we’re really looking forward to that and that’s just around the corner
00:14:45:10 – 00:15:19:13
Richard Carthon: and it’s exciting. Like you said, there’s a lot of use cases right now that you’ve already built out. And I mean, even the one as a freelancer being set up that smart contract to get all that going. I’m sure a lot more people are looking for opportunities like this, which is highly important. Going back to the whole underlying piece of why blockchain is so important is because of all of the different ways it can be utilized in how it’s all practical, useful and can be. You can trust it while also being not having a middle person to facilitate these types of deals, the whole point of a smart contract in the first place.
00:15:19:23 – 00:15:34:09
Richard Carthon: So as you kind of like again, take a step back, you’re looking at while here are all the different aspects that we’re building out. Why do you think more people, once they discover transient, is going to get more and more involved within this, this ecosystem, this marketplace that you’re creating?
00:15:37:19 – 00:16:05:16
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00:16:11:24 – 00:16:50:10
Richard Carthon: Yes, I think the first one is the seamless nature of the interaction. So we sort of thought one of the big issues or challenges was the whole trilemma from a blockchain perspective. I think even as as you know, all that and and there’s, you know, chains that are getting closer and closer to optimizing what that looks like, the experiences need to be either familiar or surpass what we have today. So transients familiar familiarity around the actual experience with applications that are used today is the first thing.
00:16:51:01 – 00:17:23:24
Richard Carthon: And second is the ability to create your own experience. So you’ll be able to utilize whatever fields and data points you want to to create the experience you need to. I think more from a non-technical perspective, the experience that the team particularly has on both the blockchain and crypto, but also traditional means and traditional sort of landscape, allows us to have an understanding of what these use cases look like already.
00:17:24:12 – 00:18:02:23
Richard Carthon: So I’ve spent a lot of my time in senior leadership roles. It’s probably the biggest betting company in the world, with brands across the world through Flutter Group and FanDuel in the US. Paddy Power in Europe and Sportsbet in Australia. So I’m aware as to what experiences the opportunity has and are able to sort of leverage that positioning in propositions of of experiences. So, you know, from an online and famous perspective, the really big challenge for them is loyalty and how they look at loyalty and loyalty programs across their various products.
00:18:05:13 – 00:18:53:06
Richard Carthon: And blockchain is built for that, distributed ledgers of of and single nodes and central points of their experiences through validators on chain and off are perfect catalysts for experiences like that. So I think on one hand from a transit perspective is clearly of the UI and the experience of differentiating that to what’s out there today, but also the ability to understand what these industries want and be able to be on the front foot to actually enable those. We find that I’ve found previously, even when I’ve been in previous roles there, you know, the idea of blockchain or emerging tech is great, but you need to be able to have real life use case and a understanding as to what the problem solving.
00:18:53:28 – 00:18:57:24
Richard Carthon: And lucky for us, we we know a lot of the problems and we know how to solve it.
00:18:58:27 – 00:19:31:06
Richard Carthon: Right now, that’s and that’s really important, just like you said, being able to speak to your background, your experiences, understanding what consumers have wanted, challenges they can consistently face and then how to be able to solve a lot of those within the same marketplace ecosystem and have it built upon itself. Because after you get pretty comfortable with one aspect of being able to outsource and use a platform for something that you start using it for everything like one of my smartest I think the Apple ecosystem did was they made a phone that was so simple and easy to use that you basically go to it for all of your your needs.
00:19:31:08 – 00:19:47:02
Richard Carthon: So if you’re able to start creating that first entry point of, Hey, I can do this thing really well, and then like, Oh, by the way, you can do this now or you can do this now. You can just now begin to trust that and you first just need that first entry to have someone on. And it sounds like that’s how you all kind of like making that approach as well as you grow this out.
00:19:47:25 – 00:20:11:11
Richard Carthon: Yeah, 100 percent. And I think this is the way that we actually build our foundation products that they call our first step, which it will be effectively the foundation for each and every one of our apps that’s going forward. So the fundamentals of the way smart contracts are created. And then the utilization of the experience can be
00:20:12:28 – 00:20:46:16
Richard Carthon: scaled quite effectively. Even the principles remain similar. So obviously they’re content and the data changes as to what we’re we’re building the experience around and there will be some nuances around that. But the foundational layer of the core product remains consistent, and that allows us to scale, as I said, with a really good velocity, which we’ve seen already, and we’ll continue to build upon that sort of foundational capability. But adding experiences on top of that is what we strive to do.
00:20:47:24 – 00:21:05:27
Richard Carthon: Excellent. Well, sounds like you’ve got an amazing and amazing platform out there and everyone listening to, sure, you go check that out, but shift gears just for a second. One of the things that you mentioned before you’ve been on the call and I think is really important for this industry as we build out the future is building out.
00:21:07:13 – 00:21:22:06
Richard Carthon: A way to get closer to mass adoption, building out blockchain so that it’s super interoperable and easy to use and to a point to where people are using it without understanding that they’re using it. How do you think we keep getting closer and closer to that future? And how far away do you think we are?
00:21:23:12 – 00:21:32:04
Richard Carthon: Just keep pushing. Absolutely keep pushing. I think whether it’s hackathons, whether it’s experimentations, whether it’s prototyping
00:21:33:21 – 00:22:02:12
Richard Carthon: something I’ve been really big on is almost prototyping and identifying how as I, as I mentioned before, around the problem, just solving and and putting the numbers and the facts on the board when dealing with space, industries and bodies. So I think continuing to show the value and pushing the boundaries from a technological perspective and continuing having a conversation know even with transient today.
00:22:04:00 – 00:22:54:16
Richard Carthon: A, it’s if you’re wanting to get into blockchain or you’ve heard about this scary sort of base, check out transient, check out a number of steps that are breaking down the barriers, be part of the groups. Tell a friend about blockchain like it really is simple that there are pieces that we can play a part on in driving the conversation forward. So the next time your business is doing the same thing over and over and over again? Think about, Okay, well, is there a technology that might be able to help that in your everyday life? Is there something that you don’t want to do repetitively or you feel that there could be a better way? Most likely, blockchain and or crypto is in isolation is has already solved that for you? Are you waiting too long for your bank to deposit funds for you? There’s an option already.
00:22:54:27 – 00:23:25:14
Richard Carthon: Yeah, so I think it really is just continuing the conversation and always being advocates for yourself and advocates for the community. And I think that will continue to drive that, you know, transient sense and the bigger sort of players in the industry will continue to drive the conversation at whatever levels they can. But it is that constant repetitive that understanding is that the problems were solving as opposed to bringing technology just for the fun of it.
00:23:25:17 – 00:23:44:12
Richard Carthon: So I think having a fundamental understanding of why you’re building a product, you know that that is really key and critical to how you continue the conversation of adoption, particularly in the consumer world, but also in the more traditional traditional world as well.
00:23:45:14 – 00:24:17:24
Richard Carthon: Yeah, and a lot of great points there and Fred Wilson play that back. It’s this is how we get closer and closer to having everyone within not just the crypto blockchain space, but even those who are on the fence waiting for that moment. A lot of people don’t want to use what they don’t understand, and a lot of people who understand the use cases of the underlying technology blockchain in itself. So a lot of what is broke down is central to how we get and closer to that. And more than anything, what he said was to participate, find groups and find things that make sense and just get involved.
00:24:18:03 – 00:24:39:09
Richard Carthon: And we, as a community continue to get closer to what we’re trying to get to. So while I really appreciate all that, envoys like to wrap up with two fun questions, the first one I’d like to ask is with all the information you have right now, if you go back to yourself back at 20 and 15 16, whenever you first got in the space, you could drop one or two pieces of knowledge and wisdom to yourself. What would you tell yourself?
00:24:40:28 – 00:25:16:17
Richard Carthon: I think the first was when when you get into the space and even more so 10 times more so than then back then, the number of projects and what they’re trying to deliver is can be overwhelming from an investment perspective. You need to make sure that you’re you’re aware as to what fundamentals you’re looking to achieve out of out of crypto in the space in general. It’s going to be a day trader. Great. That’s fine. Go for it. If you want to look at projects that are low cap and have a great trajectory, that’s great as well.
00:25:17:01 – 00:25:49:01
Richard Carthon: But just understand what you’re getting into and then put appropriate measures around from a research perspective, really align your fundamentals and an understanding of why you want to invest in a project and really do your due diligence around the team and the expertise experience that they have within within the space that you can put your your money and cents belief in in that project that’s going to actually be successful. So I think research is something that I would definitely come back to.
00:25:49:03 – 00:26:20:15
Richard Carthon: And most likely why I mentioned in the previous question is that there is so much information out there. But what you need to do is be able to consume that, how you need to and for your your own benefit. And so I think that’s the biggest one for me. And you know, a lot of if you listen to a lot of podcasts and a lot of content and you know, a lot of say the same, but the the emotion of a financially driven experience can be great.
00:26:21:23 – 00:26:45:16
Richard Carthon: However, that can happen on a lower level and have a high level. So where you can that emotional elements of decision making know, is this something that you need to be able to address as well? So have your plans, stick to them and is always going to be tomorrow? Yeah. So I think their research makes this research and as much as you can take the emotion out of it.
00:26:46:25 – 00:27:20:08
Richard Carthon: That is an absolute gem that I want to echo for everyone. Crypto can be very emotional, especially as it comes to potential investments in everything else and the more that you can start to take the emotion out of it, which typically just comes with time and experience and everything else, and also just coming up with a process that you stick to, you’re going to be in a much. More better mental states because there are highs and lows. It’s a roller coaster. I mean, there’s not a lot of industries where you know you can be on top of the world. It be up to X one week and then you see an 80 percent correction the next.
00:27:20:10 – 00:27:41:16
Richard Carthon: And that’s just crypto and it’s OK to, you know, have those experiences and have it be like, have some of those emotions like, it’s just, we’re human. It’s going to happen. But the more you can start to put that in, it’s. Respective place where it needs to be, which is trying to make it as less emotional as possible and more.
00:27:43:10 – 00:28:03:24
Richard Carthon: Data driven and confident in just process oriented. This becomes more fun because you, you you can stomach when things go good, when they go bad, you can just be a little bit more even keel. You don’t want your highs to be too high. You don’t want your lows to be too low. You just want to figure out how you can stay right there in a good even keel. So I think that’s a really, really good reminder for everyone here.
00:28:04:29 – 00:28:13:01
Richard Carthon: Thanks. Yeah, as a matter of fact. Just stick to it and you’ll save some lives, but you definitely face life.
00:28:13:28 – 00:28:21:27
Richard Carthon: No doubt, man. Well, again, this has been a really awesome interview. But as we wrap up here, what is a final thought that you want to leave with all the listeners here today?
00:28:22:29 – 00:28:53:11
Richard Carthon: Yeah, I think whether it’s transience, whether it’s the next project you listen to or say gets stuck in rage, read, read, ask questions, continue to push the narrative. But yeah, it’s a transient specifically. Check out the depth. There will be something for everyone, particularly crypto. Paul, you’re listening to this podcast just because you either are in the industry or you want to get in. Alan Price is a massive point to that. So check out our socials. Continue to follow us.
00:28:54:00 – 00:29:19:10
Richard Carthon: Yeah, crypto pool would be massive. And then indie sports, if you’ve got any gaming or any or elements of that site and you check out again in the new year, something big will be coming for transients. And I’m really excited to start our mainstream push with our our gaming community and an e-sports more broadly. So check us out. But if it’s not us, check out the next projects, get involved and continue the conversation.
00:29:20:19 – 00:29:26:29
Richard Carthon: Excellent. I think that’s amazing final thought and on that thought, what are ways that people can connect and learn more about transient?
00:29:27:21 – 00:29:33:20
Richard Carthon: Yeah, we’ll drop some links to the best one is through our socials. So we’ve got that.
00:29:35:08 – 00:29:54:27
Richard Carthon: We don’t now YouTube. We’re going to Telegram Group and a revamped website also that you can go to, so check them out. And if it’s even just jump into our Telegram groups, what awesome awesome moderators are members in that will help you out? Yeah. Or just jump on and and interact with our socials. You get the sense that you need.
00:29:56:06 – 00:30:27:23
Richard Carthon: Perfect. Well, again, both, thank you so much for spending some time with us and for everyone listening. Stay, CryptoQuant. Hey, CryptoQuant 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 Biji. 93 compelling content delivered in a digestible format. Demystifies the crypto world by engaging participants from all corners in intelligent conversation.
00:30:27:29 – 00:30:59:13
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00:31:00:06 – 00:31:34:07
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00:31:49:21 – 00:31:56:16
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00:32:19:09 – 00:32:53:29
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 US financial advice. This show and any other crypto current production is exclusively for informational purposes.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.