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[00:00:06]

UH, AND AS WE MIGHT NEED TO, WE'LL, UH, ADJUST BASED UPON OUR SPEAKER AS WE STILL AWAIT THEIR ARRIVAL.

UH, BUT WE DO HAVE A ROBUST AGENDA, SO IF EVERYONE'S COMFORTABLE WITH THAT, I'D LIKE TO GO AHEAD AND GET GOING.

I SEE NODS.

I SEE NODS.

OKAY.

NO, LET'S GO.

ALL RIGHT.

LET'S DO IT.

OKAY.

CD, AV.

GOOD TO GO.

[CALL TO ORDER]

ALL RIGHT, LET'S GET STARTED.

HELLO, EVERYBODY.

MY NAME IS NEHEMIAH PIT III, AND I'M CALLING TO ORDER THE COMMUNITY TECHNOLOGY AND TELECOMMUNICATIONS COMMISSION REGULARLY SCHEDULED MEETING TODAY, WEDNESDAY, OCTOBER 12TH, 2022, HERE IN CITY HALL AT THE BOARDS AND COMMISSIONS ROOM 1101 AT 3 0 1 WEST SECOND STREET, AUSTIN, TEXAS 78 7 0 1.

SOME OF OUR MEMBERS OF THE COMMISSION ARE PARTICIPATING ONLINE, AND THEY CAN BE VIEWED AT THE AVAILABLE LINK, UH, JUST FOR THOSE WHO ONLY HAVE THE ABILITY TO HEAR ME, THAT IS HTTP SLASH SLASH WWW.AUSTINTEXAS.GOV/PAGE/WATCH-AT XN LIVE.

SO, WE'LL BEGIN WITH THE ROLL CALLS.

I MENTIONED MY NAME IS NEHEMIAH PII, AND I REPRESENT DISTRICT ONE, AND WE'LL START WITH THOSE IN THE ROOM.

STEVEN ADCA, REPRESENTING DISTRICT TWO IS PRESENT.

AND IF WE CAN GO TO, UH, COMMISSIONER GATES.

COMMISSIONER YATES, DISTRICT THREE PRESENT.

AND COMMISSIONER GARZA.

COMMISSIONER GARZA, DISTRICT FOUR, AND COMMISSIONER ISLAND.

COMMISSIONER ISLAND REPRESENTING DISTRICT SEVEN AND COMMISSIONER THOMPSON.

HI, THIS IS COMMISSIONER NICOLE THOMPSON, REPRESENTING DISTRICT NINE.

THANK YOU.

AND COMMISSIONER SUPTA, UH, SUMETA, COMMISSIONER SUMETA REPRESENTING DISTRICT 10.

GREAT.

THANK YOU FOR THAT.

UH, WE HAVE, UH, BEEN CALLED TO ORDER.

WE'LL GO AHEAD AND PROCEED TO PUBLIC COMMUNICATION GENERAL AT THIS TIME.

THERE'S NO ONE SIGNED UP TO SPEAK, SO WE'LL GO AHEAD AND PROCEED WITH OUR

[APPROVAL OF MINUTES]

AGENDA TO THE APPROVAL OF MINUTES OF THE 2000, EXCUSE ME, THE SEPTEMBER 14TH MEETING OF OUR COMMISSION.

Y'ALL SHOULD HAVE THAT IN YOUR CALENDAR INVITATION AND HOLD FOR THIS ONLINE.

AND, UH, THOSE IN THE ROOM, OF COURSE, HAVE THAT IN FRONT OF THEM.

I'LL LOOK FORWARD TO A MOTION TO APPROVE IN A SECOND, AND THEN WE'LL HOLD A VOTE CHAIR.

I MOVE TO APPROVE THE MINUTES OF THE SEPTEMBER MEETING.

OKAY.

WE HAVE A MOTION BY COMMISSIONER.

DO SCOOP TO APPROVE THE MINUTES AS PRESENTED.

I SECOND THAT MOTION WITH THAT.

THEN WE'LL GO AHEAD AND HOLD A VOTE.

ALL IN FAVOR OF APPROVING THE MINUTES AS PRESENTED, PLEASE SAY, AYE.

AND SHOW YOUR HAND.

AYE.

AYE.

AYE.

AYE.

SO WE HAVE A UNANIMOUS APPROVAL OF ALL PRESENT HERE, SEVEN IN FAVOR, ZERO OPPOSED, AND ABSTAINING ZERO.

SO WITH THAT, THEN THE MINUTES ARE APPROVED AND WE CAN PROCEED IN OUR AGENDA NOW.

UH, WE'LL HAVE TO GET CREATIVE, UH, BECAUSE OUR AGENDA NOW CALLS FOR, UH, THE PRESENTATION BY, UH, OUR INTERIM CHIEF INNOVATION OFFICER, DANIEL COLADA.

SO LET'S GIVE HIM TIME TO ARRIVE AND WE'LL SWITCH GEARS.

UH, AND BASED ON THE CIRCUMSTANCES, IS THERE A NEED TO HOLD A VOTE FOR THAT SWITCH? I DIDN'T THINK SO.

JUST WANNA MAKE SURE.

UH, BUT LET'S

[3. Digital Inclusion Week 2023 Art Competition Update]

GO AHEAD AND PROCEED THEN TO AGENDA ITEM NUMBER THREE, STAFF AND COMMUNITY BRIEFINGS ON DIGITAL INCLUSION WEEK 2022.

UH, ART COMPETITION UPDATE.

UH, PLEASE FORGIVE THE TYPO ON THE MINUTES.

THANK YOU.

COMMISSION, UH, JESSE RODRIGUEZ, TELECOMMUNICATIONS AND REGULATORY AFFAIRS.

UM, I HAVE A VERY BRIEF UPDATE, UH, ON THE ART COMPETITION.

UM, WE, AFTER THE, UH, FIRST EXTENDED PERIOD THAT WE HAD FOR THE ART, UH, SUBMISSION, WE STILL HAVE NOT

[00:05:01]

RECEIVED ANY APPLICATIONS.

UH, SO RATHER THAN JUST EXTENDING THE DEADLINE LIKE WE DID FOR THE PREVIOUS TIME, UH, I, I'M PUTTING A PAUSE ON OUR, UH, MARKETING PROCESS.

I'VE HAD TWO MEETINGS WITH THE TEAM THIS WEEK, AND WE'RE GONNA HAVE A, UH, MORE THOROUGH ANALYSIS OF DIFFERENT ADVERTISING PATHWAYS THAT WE CAN ENGAGE IN.

UM, AS Y'ALL KNOW, OUR PUBLIC INFORMATION OFFICER, UH, BRIANNA CAME ON MIDWAY THROUGH THE PROJECT, AND SO HAVING HER HERE FOR, UH, PLANNING, UH, I THINK IS GONNA HELP US, YOU KNOW, BUILD FROM A SOLID FOUNDATION.

UM, SO IF, IF WE DO RECEIVE ANY APPLICATIONS AT, YOU KNOW, AT ANY TIME BEFORE THE EXTENDED, YOU KNOW, THE FINAL DEADLINE THAT WE HAVE YET TO SET, WE'RE, YOU KNOW, STILL ACCEPTING APPLICATIONS, BUT WE'RE GONNA HAVE A FORMAL RESET DATE, UH, WHERE WE'RE GONNA LAUNCH, UH, NEW COMMUNICATIONS, UM, ALL ON THE SAME DAY.

UM, THOSE PATHWAYS ARE YET TO BE DETERMINED OR FINALIZED, BUT, UH, BASED ON THE CONVERSATIONS THAT I HAD EARLIER THIS WEEK, IT'S GONNA INCLUDE DIRECT EMAILS TO NONPROFITS WHO ARE IN THE ARTS SPACE, IN ADDITION TO TRYING TO RECONNECT WITH, UH, A I S D AND, UH, OUR OTHERS, UH, LOCAL SCHOOL DISTRICTS.

UM, IT'S ALSO GONNA INVOLVE, UH, SOCIAL MEDIA, ADDITIONAL SOCIAL MEDIA POSTS.

I BELIEVE THAT, UH, THE, THE PAST, YOU KNOW, UP UNTIL NOW, WE'VE ONLY DONE TWITTER POSTS.

WE'RE GONNA SEE IF WE CAN ALSO GET FACEBOOK INVOLVED.

UM, AND WE'RE, UM, UH, SO YEAH, WE'RE, WE'RE GONNA RESET THAT DATE.

I DON'T HAVE IT QUITE FINALIZED YET.

UH, WE'RE GONNA DEVELOP A HANDOUT, UM, TO, TO ADDITIONALLY SHARE OUT, UM, AND WE'LL MAKE THAT AVAILABLE TO THE COMMISSION ONCE IT BECOMES FINAL.

UM, SO THAT, THAT'S MY UPDATE.

UH, IF YOU ALL KNOW OF ANY PARTICULAR NON-PROFITS THAT YOU WOULD LIKE FOR US TO REACH OUT TO DIRECTLY OR ANY OTHER ORGANIZATIONS THAT YOU WOULD PROPOSE THAT WE REACH OUT TO DIRECTLY THAT ARE AT THAT INTERSECTION OF ARTS AND EQUITY, UM, PLEASE LET US KNOW AND WE'LL INCLUDE THEM IN OUR NEXT STEP.

BUT I DO INTEND ON, UH, SENDING AN EMAIL TO THE COMMISSION ONCE WE HAVE THE DETAILS MORE FLESHED OUT.

CAN YOU VERY QUICKLY REMIND US, JESSE, OF, UM, GUIDELINES, IS THERE AN AGE LIMIT? UH, IS THIS, LIKE FOR YOUTH? IS THIS FOR EVERYONE? AND THEN AS A COMPETITION, WHAT IS IT THAT PEOPLE WIN? ABSOLUTELY.

YEAH.

SO, UH, THE GUIDELINES FOR THE AGE RANGE IS GENERALLY TEENAGERS, OR 10 TO 18, I BELIEVE IS OUR FORMAL, UH, UH, AGE RANGE SHOWED DEFINITELY FOR KIDS.

UM, THE, UH, THE TOPICS IS REALLY ANYTHING HAVING TO DO WITH DIGITAL EQUITY.

UH, WHAT DOES DIGITAL EQUITY MEAN TO YOU? UH, HOW DO YOU INTERACT WITH, UH, THE INTERNET AND DIGITAL SOCIETY? UH, WE HAVE REALLY BROAD GUIDELINES, UH, IN TERMS OF WHAT FOLKS CAN, UH, KIND OF REFLECT ON OR RESPOND TO FROM AN ARTISTIC PERSPECTIVE.

UM, BUT GENERALLY SOMETHING RELATING TO DIGITAL EQUITY.

UM, AND THERE ARE CASH PRIZES FOR FIRST, SECOND, AND THIRD PLACE.

UH, FIRST PLACE AWARD WINNERS WILL GET $400, AND THE SECOND PLACE WILL GET, UH, $200, AND THIRD PLACE WILL GET $100.

SO, UH, TO JESSE, ABSOLUTELY.

UH, I DO APPRECIATE THE QUESTION, UH, AND WANTED TO MAKE SURE THAT EVERYONE ACTUALLY WAS AWARE OF THOSE DETAILS.

UH, I DID HAVE A LITTLE DIFFERENT EXPECTATION ABOUT THE CONTENT TODAY.

UM, I WAS UNDER THE IMPRESSION THAT IN ADDITION TO PROVIDING THE DETAILS ON THE CONTEST ITSELF, UH, WE WERE ALSO GOING TO FEATURE OUR ARTISTS THAT WERE PREVIOUS WINNERS.

UH, AND I DON'T KNOW IF YOU'RE PREPARED TO DO THAT, BUT I AM, IF YOU'RE NOT, ABSOLUTELY.

YEAH, I DON'T, I DON'T HAVE THOSE IN FRONT OF ME.

BUT IF YOU WOULD LIKE TO SHARE, BY ALL MEANS, UM, I WOULD, AND I WOULD LIKE TO DO THIS, UH, WITH ANOTHER CAVEAT IN MIND.

UH, AS THIS COMMISSION PLAYED A KEY ROLE IN THE CREATION OF THIS CONTEST, UH, AND ALL OF ITS CURRENT, WELL, PRIOR TO THE CURRENT, UH, PLANNING GROUP THAT WE WERE NOT INVOLVED IN, UH, I WOULD REQUEST THAT WE'D BE INCLUDED IN FUTURE PLANNING.

UH, THAT WOULD BE THE ONE REQUEST THAT I WOULD MAKE.

AND, AND I WOULD ALSO LIKE TO, UH, SAY THAT I'M, I'M VERY APPRECIATIVE OF, UH, THE INCLUSION OF ADDITIONAL CHANNELS AND, AND THE THOUGHT THAT'S GONE INTO, UH, A NEED TO EXPAND OUR REACH FOR THIS CONTEST.

UH, I THINK IT'S IMPORTANT TO STATE FOR THE RECORD, UH, THAT THERE ARE CERTAIN LESSONS WE LEARNED FROM

[00:10:01]

PRIOR, UH, YEARS, UH, THAT WILL BE EASILY PASSED ON, UM, AGAIN, WITH INCLUSION OF THIS COMMISSION IN THAT PLANNING.

UH, BUT WANTED TO SEIZE THIS OPPORTUNITY, CERTAINLY, UH, TO ELEVATE THE ARTISTS, UH, WHO, UH, WON AND PARTICIPATED, UH, FROM 2020 AND 2021.

NOW, THE CHALLENGE IS, MY LITTLE SCREEN MAY NOT NECESSARILY DO IT JUSTICE, BUT AT THE VERY LEAST I CAN SPEAK TO THEM VERBALLY.

SO, IN 2020, WHEN WE STARTED THE CONTEST, UH, THE FIRST WINNER, UH, WAS MI PATEL.

UH, SHE WAS 12 YEARS OLD AT THE TIME, AND SHE WON FROM KEELING MIDDLE SCHOOL.

SHE USED, UH, THE MEDIUM OF ALCOHOL MARKERS IN PENN.

AND, AND JOINING THIS, UH, INCREDIBLE PIECE, SHE MADE THE STATEMENT TO ME, DIGITAL EQUITY MEANS TECH ADAPTED TO FIT DIFFERENT TYPES OF PEOPLE'S NEEDS.

EQUITY IS DIFFERENT THAN GIVING EVERYONE THE SAME THING, BECAUSE EVERYONE IS DIFFERENT.

VERY POIGNANT AND EXTREME WISDOM FROM A 12 YEAR OLD, UH, ABOUT WHAT EQUITY REALLY IS.

UH, AND THIS IS A DELIGHTFUL PIECE AS WELL.

UM, SO I REALLY HOPE I CAN MAKE THIS BETTER.

SO THIS ONE'S VERTICALLY ORIENTED.

LET'S SEE.

I'M TEMPTED TO, I WISH I KNEW WHERE THE CAMERA WAS.

I WOULD WALK RIGHT TO IT, BUT, UH, AS YOU CAN SEE, IT'S BLOWING WITH THE RED.

YEAH.

WELL, THIS IS PRETTY CLEAR, AT LEAST ON THE SCREEN.

I SEE WHAT THEY'RE GETTING.

SO IF, UH, YOU CAN SEE HERE FROM THE, FROM THE CUP, FROM THE PICTURE THAT THERE'S, YOU KNOW, CHARACTERS OF DIFFERENT PEOPLE DOING DIFFERENT THINGS, UH, AND BRIDGING THAT GAP OF, OF EQUITY BASED UPON THEIR DIFFERENT NEEDS, UH, OUR 2021 WINNER.

SURE.

WOULD YOU SHOW IT ONE MORE TIME? SURE.

AND I'M TRYING TO PULL IT UP.

OH, WONDERFUL.

OKAY.

UH, JESSE'S WORKING ON PULLING THIS UP.

THERE WE GO.

THANK YOU FOR THE CLOSEUP.

OH, YEAH.

OH, I LIKE THAT.

WOW.

THAT HELPS A LOT.

YES.

RIGHT.

YOU GUYS CAN SEE THAT'S A REALLY THOUGHTFUL PIECE.

YEAH, VERY COOL.

VERY COOL.

RIGHT.

AND, UH, VERY WELL DONE.

UH, AND THEN WE OF COURSE, DID THE CONTEST AGAIN LAST YEAR, AND OUR WINNER, UH, WAS ZARAH AL TEL, AN 11 YEAR OLD WHO WON FIRST PLACE FROM GUERRERO THOMPSON ELEMENTARY.

THEY USE PENCIL, PAPER, AND COLORED PENCILS.

AND THEY LEFT A VERY MORE SIMPLE STATEMENT, BUT TO THE POINT OF, UH, DIGITAL EMPOWERMENT.

AND THIS ONE, I'D LIKE TO REFER TO THE SCREEN BECAUSE I KNOW MY SCREEN WON'T DO IT JUSTICE.

UH, CAN YOU GUYS SEE THAT? YEAH.

YEAH.

THIS IS VERY CLEAR.

RIGHT? AND YOU CAN SEE IN THE BUBBLES, THEY'VE GOT ALL THE DIFFERENT, YOU KNOW, DYNAMICS THAT, THAT WE'RE, WE'RE HAVING TO GET USED TO NAVIGATING, YOU KNOW, ZOOM AND, UH, YOU KNOW, RESEARCH AND, AND THEIR SOCIAL SPHERE AND ALL DIFFERENT THINGS THAT ARE GOING ON IN THE MIND OF, UH, OF OUR YOUTH AND, AND WHAT IT MEANS FROM A DIGITAL EMPOWERMENT STANDPOINT.

SO, I WANNA MAKE SURE TO SEE THIS OPPORTUNITY TO ENCOURAGE ANYONE LISTENING OUT THERE AT SCHOOLS AND PARENTS THAT MIGHT BE LISTENING IN TO, UH, ENCOURAGE Y'ALL TO PARTICIPATE.

AND, AND I LOOK FORWARD TO Y'ALL RECEIVING THE UPDATE FROM OUR COMMISSION AND ALSO FROM, UH, ARTURO OFFICE, UH, BASED UPON THAT.

SO BE ABLE TO LOOK OUT FOR THAT.

SO, CHAIR PITS, MAY I ASK A QUESTION ON THIS? SURE.

YOU KNOW, THIS IS SUCH AN INSPIRING, UH, YOU KNOW, THING.

WOULD IT BE WORTHWHILE FOR, UH, YOU TO HAVE, UH, EITHER A IN FACE TO FACE OR A, OR, OR, OR A VIDEO CONFERENCE WITH, UH, MIDDLE SCHOOLERS AND INSPIRE THEM TO, UH, PARTICIPATE IN THIS KIND OF A PROJECT? YOU KNOW, LIKE GOING TO SEVERAL MIDDLE SCHOOLS, FRANKLY, UH, I, I REPRESENTED YOU OF THE COMMISSION.

I THINK THAT'S A GREAT IDEA.

UH, YOU KNOW, I'LL SAY THIS, HAVING JUST, UH, PARTICIPATED IN THE TECH FOR ALL FEST ON FRIDAY, AND WITNESSING FIRSTHAND THE MULTI-GENERATIONAL ATTENDANCE THAT WE HAD SEEING, UH, SENIOR CITIZENS AND YOUTH, UH, WIN LAPTOPS AND, AND THEIR EXCITEMENT THAT, UH, THAT WOULD BE, UH, I THINK, UH, IMPACTFUL.

I THINK THE TOUGH THING IS, UH, THAT THERE'S A LOT OF SCHOOLS , AND IT'D BE TOUGH TO DECIDE WHERE TO GO, UH, AND HOW TO FIND A WAY TO GET IN FRONT OF, UH, ALL THE SCHOOLS EQUITABLY.

UH, THAT WOULD BE THE CHALLENGE THAT WE'D HAVE.

[00:15:01]

UH, BUT I DO, I DO THINK THAT MAYBE WE, UH, WERE TO FILM A VIDEO, PERHAPS, OR YEAH, SOMETHING LIKE THAT.

EXACTLY.

THEN WE COULD THEN GIVE THAT AS A WAY TO SHARE THROUGH THE, THE EDUCATORS, UH, IN ADDITION TO PROMO OF THE PREVIOUS WINNERS, YOU KNOW, OUR EXCITEMENT FOR THIS AND, AND WHAT IT MEANS TO OUR COMMUNITY.

EVEN SOME SHOTS, UH, IF WE'VE GOT THEM OF THE ARTWORK AS IT'S BEEN PRESENTED AROUND TOWN.

HOPEFULLY WE'VE GOT THAT, UH, CAPTURED.

IF NOT, WE CAN AT LEAST TELL THE NARRATIVE ABOUT HOW, UH, THESE ARTISTS WILL BE FEATURED AROUND TOWN AND, AND IN FUTURE SCENARIOS LIKE THIS.

UH, NOT JUST ADDING SOMETHING TO THEIR PORTFOLIO, BUT TO THEIR RESUME, YOU KNOW, REALLY AS, AS AN ARTIST.

SO, I CERTAINLY ENCOURAGE THAT AND, AND, UH, WE'LL LOOK FORWARD TO THE OPPORTUNITY TO BE INCLUDED IN PLANNING, AND THEN WE'LL, WE'LL HASH THAT OUT FURTHER.

SO THANK YOU FOR THAT.

AND COMMISSION VICE CHAIR, UM, WERE THE PREVIOUS, OR PARTICIPANTS AND WINNERS FROM THE PREVIOUS YEARS REACHED OUT TO DIRECTLY? YES.

WE, FOR ALL OF THE PREVIOUS AWARDEES, WE HAD DIRECT EMAIL COMMUNICATIONS WITH THE AWARDEES AND LET THEM KNOW, UM, YOU KNOW, THAT THEY HAD BEEN SELECTED AND THAT THEIR ARTWORK WOULD BE, UH, HOSTED AND WHERE IT WOULD BE HOSTED.

UM, AND, AND, YOU KNOW, OBVIOUSLY WE HAD TO WORK OUT DETAILS OF, UH, HOW TO TRANSFER THE, THE AWARD FUNDING AS WELL.

OH, I MEAN, FOR THE MOST, THE MORE RECENT, UH, CONTEST.

YEAH, THAT, YEAH.

EXCELLENT POINT.

UM, THAT ACTUALLY CAME UP IN, UH, ONE OF OUR DISCUSSIONS EARLIER THIS WEEK TO REACH OUT TO ALL OF THE APPLICANTS FROM PAST, UH, THE PAST TWO YEARS, JUST TO SAY, UH, YOU KNOW, FEEL FREE TO SUBMIT AGAIN, UH, YOU KNOW, FOR THIS YEAR AND, AND, UH, TRY AND SPREAD THE WORD WITH FAMILY, FRIENDS, UH, YOU KNOW, UH, OTHER, UH, FOLKS THAT YOU'RE GOING TO SCHOOL WITH.

GREAT QUESTION.

GREAT QUESTION.

UH, COMMISSIONER YATE, SOMETHING.

I HEARD YOU HAVE A QUESTION.

I THINK IT WAS ME.

OH, COMMISSIONER ISLAND.

SORRY ABOUT THAT.

.

UM, I'M CURIOUS FOR SOMETHING FOR NEXT YEAR, MAYBE TO THINK ABOUT, IS MAYBE HAVING LIKE A BOOTH OR SOMETHING LIKE THAT, A DIGITAL INCLUSION WEEK THAT TALKS ABOUT THIS COMPETITION SINCE THERE IS A LOT OF PEOPLE WALKING AROUND, UM, MIGHT JUST GIVE MORE VISIBILITY AS WELL TO IT HERE, HERE, UH, AT THE TECH FEST.

UH, I HAD THE HONOR BEING A GUEST SPEAKER, AND I SEIZED THAT OPPORTUNITY TO TALK ABOUT THE CONTEST.

HOWEVER, UH, I, I THINK YOU'RE ABSOLUTELY CORRECT THAT, UH, IT'S PERHAPS ONE OF THE THINGS THAT WE SHOULD CONSIDER TABLING FOR, UH, EITHER AS A TERROR OFFICE OR AS A COMMISSION.

UH, FRANKLY, I WOULD LIKE TO SEE OUR COMMISSIONERS MORE COMMISSIONERS AT THAT EVENT.

UH, SO I, I WOULD PROBABLY, UH, BUT THEN AGAIN, I THINK THERE'S OTHER WAYS FOR COMMISSIONERS TO GET INVOLVED IN THAT EVENT AS WELL.

SO, UH, TO YOUR POINT, I THINK IT'S A GREAT IDEA, AND WE SHOULD DEFINITELY ROLL THAT INTO OUR PLANNING.

AND, UH, IT LOOKS LIKE, UH, WE HAVE BEEN JOINED BY OUR, OUR SPEAKER, SO I DID WANNA GIVE OTHERS A CHANCE TO ASK ANY QUESTIONS ON THIS, BUT WE DO NOW HAVE THE OP OPPORTUNITY TO KIND OF MOVE FORWARD IN OUR AGENDA, UNLESS THERE'S ANYTHING ELSE ON THIS ONE.

OKAY.

YEAH.

THANK YOU FOR THAT, THAT QUESTION.

COMMISSIONER ISLAND, THAT'S A GREAT SUGGESTION.

UH, LET'S GO AHEAD AND, UH, AND PROCEED THEN.

OKAY.

SO, WITH THAT, THEN WE'RE GONNA GO BACK, UH, NOW TO OUR NEW

[2. City of Austin Analysis of Blockchain and Cryptocurrency]

AGENDA, ITEM THREE, UH, THE CITY OF AUSTIN ANALYSIS OF BLOCKCHAIN AND CRYPTOCURRENCY BY OUR ESTEEMED INTERIM CHIEF INNOVATION OFFICER, DANIEL COLADA.

THANK YOU SO MUCH FOR JOINING US, DANIEL.

HELLO EVERYONE.

THANKS FOR HAVING ME.

AND I DO APOLOGIZE FOR, UH, BEING LATE.

I AM VERY GLAD TO BE HERE TALKING WITH YOU.

UH, TOMORROW'S MY, MY, UH, LAST DAY IN THE OFFICE OR VIRTUAL OFFICE, AT LEAST BEFORE I GO OUT ON, UH, PARENTAL LEAVE.

UM, SO SHOULD I, SHOULD I HAVE A NEW ONE HERE, UH, NEXT WEEK? SO I'M, I'M HAPPY TO, TO DO THIS, UH, HERE WITH YOU TODAY.

UM, AND, AND IF I RUN OUT THE ROOM, TURN OFF .

CONGRATULATIONS WITH, PLEASE DO WHAT YOU GOTTA DO.

LET US KNOW, .

GREAT.

SO, YEAH, THANKS FOR LETTING ME, UH, COME BRIEF YOU ON THIS TODAY.

UM, I THOUGHT WE HAD MORE OF A, A DISCUSSION ON IT, UM, RATHER THAN GO THROUGH A DECK, UH, BUT I DID WANT TO ASK, OR, OR KIND OF TAKE A SURVEY.

DID Y'ALL HAVE A CHANCE TO REVIEW THE RESPONSES, UH, TO THE RESOLUTIONS YET? THE REASON I'M ASKING IS I, I CAN, I WILL GO THROUGH THOSE AND EXPLAIN THROUGH THEM, BUT IF YOU'VE ALL READ THEM, THEN WE CAN, WE CAN HAVE A, A DISCUSSION BEYOND THOSE.

SO I WANNA SAY CANDIDLY, THAT, UH, WE JUST RECEIVED THIS TODAY AS PART OF THIS MEETING BRIEF.

SO IT'S VERY LIKELY THAT MOST OF US HAVE NOT.

UM, OKAY.

WELL, I JUST BRIEFLY CANDID RIGHT NOW.

OKAY.

I WILL GO THROUGH IT AND YOU ALL HAVE IT, RIGHT? I CAN PUT THE LINKS IN THE, IN THE CHAT, BUT IF YOU ALL HAVE IT, I WON'T DO, WE, WE HAVE A HARD COPY IN FRONT OF US HERE IN THE ROOM, AND, UH, THOSE AT HOME HAVE SOFT COPIES THEY CAN PULL UP.

GREAT.

SO I'LL

[00:20:01]

GENERALLY GO THROUGH IT.

I'LL GIVE YOU SOME BACKGROUND OF KIND OF WHERE THIS CAME ABOUT AND, AND WHERE WE, WHERE WE SIT NOW.

I WILL ALSO, I'M MOSTLY GONNA FOCUS ON THE BLOCKCHAIN, UM, UM, RE RESPONSE AND, AND THAT, THAT KIND OF ANGLE.

BUT I WILL ALSO TOUCH ON THE CRYPTOCURRENCY, WHICH WAS A SEPARATE, UH, RESOLUTION, BUT OBVIOUSLY VERY RELATED.

SO, UM, WE'LL, WE'LL DO THAT TODAY.

SO, YEAH, WITHOUT FURTHER ADO, UH, THE, THESE RESOLUTIONS, UM, CAME, YOU MAY REMEMBER, UH, AROUND MARCH, UM, VERY NEAR TO SOUTH BY SOUTHWEST.

UH, AND AT, AT THAT TIME, AND, YOU KNOW, FROM THE PREVIOUS, UH, COUPLE YEARS, YOU KNOW, REALLY STARTING IN 2020, UM, BLOCKCHAIN, BUT REALLY, CRYPTOCURRENCY HAD BEEN INCREASING IN POPULARITY PUBLICLY.

UM, THE, THE VALUES OF CRYPTOCURRENCY WERE SKYROCKETING.

UH, YOU KNOW, STADIUMS ARE BEING NAMED AFTER CRYPTOCURRENCY.

THEY'RE SUPER BOWL COMMERCIALS.

IN ADDITION, BLOCKCHAIN IS ALSO A LITTLE, UH, OLDER THAN THAT, BUT NOT BY MUCH.

YOU KNOW, PEOPLE REALLY STARTED TALKING ABOUT BLOCKCHAIN IN 2008.

UM, IN 2018, THE INNOVATION OFFICE STARTED TALKING ABOUT DOING A, UH, POTENTIAL PROJECT OR AN EXPLORATION INVOLVING BLOCKCHAIN.

UH, I'VE TALKED TO YOU ALL ABOUT THIS BEFORE.

UM, IT'S CALLED LIFE FILES.

BACK THEN.

IT WAS CALLED MY PASS, WHERE TECHNOLOGIES MIGHT MEAN FOR PEOPLE EXPERIENCING HOMELESSNESS, UH, AS THEY SECURE, STORED, AND SHARED VITAL DOCUMENTS THAT THEY NEEDED TO ACCESS SERVICES.

UH, AGAIN, YOU MAY REMEMBER FROM THAT BRIEFING, UM, THAT PROJECT ENDED UP USING BLOCKCHAIN IN A SMALL, BUT VERY, IN PART, IMPORTANT PART OF ITS TECH STACK.

AND TO MY KNOWLEDGE, IS ONE OF THE VERY FEW, UH, MUNICIPAL EXPLORATIONS OF BLOCKCHAIN IN AN APPLIED, UM, PROJECT THAT, THAT HAD BEEN DONE AT THAT TIME.

UM, IF, IF THERE WERE ANY OTHERS, I DIDN'T, I DIDN'T KNOW ABOUT 'EM, WHERE THEY WERE IN VERY BRIEF.

FAST FORWARD TO 20, UH, 22 HERE.

UM, WHEN WE'VE BEEN DOING THIS WORK, IT'S MORE ABOUT CRYPTO, BUT AS THE INNOVATION OFFICE WAS THE MAIN OFFICE THAT HAD HAD ANY EXPERIENCE WITH THIS IN THE CITY, UH, A LOT OF THESE RESOLUTIONS CAME TO US.

THE BLOCKCHAIN RESOLUTION EFFECTIVELY ASKS US TO REALLY AT ITS CORE, WAS MAKE SURE THAT WE'RE DOING WHAT WE CAN AS A CITY TO MAKE AUSTIN IN GENERAL, OPEN AND INVITING FOR BLOCKCHAIN TYPE DEVELOPMENT.

IT DIDN'T NECESSARILY SAY, GO ADOPT THIS STUFF.

IT DIDN'T EVEN NECESSARILY SAY, YOU KNOW, WE SHOULD USE IT FOR THIS, THAT, OR THE OTHER.

UM, ALTHOUGH IT DID SAY, YOU KNOW, OF COURSE, EXPLORE, DO IT, DO IT AN EXPLORATION OF HOW WE MIGHT USE THIS, BUT CREATE A SUPPORTIVE ENVIRONMENT.

THE CRYPTOCURRENCY RESOLUTION, WHICH WAS INTRODUCED AT THE SAME TIME, AND THEY WERE ADOPTING THE SAME MEETING SPECIFIED A FA A FACT FINDING, UM, , YEAH, WE'LL CALL IT , TO, TO EXPLORE WHAT IT WOULD IF, IF, AND WHAT IT WOULD TAKE FOR THE CITY TO ACCEPT CRYPTOCURRENCIES, UM, DEALING CRYPTOCURRENCIES, HOW THEY MIGHT BENEFIT RESIDENTS.

AND THE FINANCIAL SERVICES DEPARTMENT, UH, TOOK A STRONG LEAD THERE, BECAUSE A LOT OF THOSE QUESTIONS ARE MORE FINANCIAL, REGULATORY LAW AND NATURE LAW.

SO, WAIT IN THERE.

SO IN OUR, UH, WHAT WE DID FOR, UM, THE BLOCKCHAIN RESPONSE, WHICH WAS THE MORE GENERAL RESOLUTION, YOU KNOW, WHAT WE PARTNERED UP, UM, WITH A, UH, THE LARGEST BLOCKCHAIN, BLOCKCHAIN, UM, CONFERENCE IN THE WORLD, HAPPENS TO RELOCATE TO AUSTIN.

UM, WE PARTNER WITH THEM, UH, IN GENERAL THIS SUMMER.

IT'S CALLED THE CONSENSUS CONFERENCE.

AND WE ALSO WORKED WITH THEM TO SPONSOR A HACKATHON THAT LOOKED AT CREATING, UH, WHAT THEY CALL, YOU KNOW, SOLUTIONS, THE HYPERLOCAL ISSUES.

SO WE, UH, GAVE THEM A LOT OF INFORMATION ABOUT ISSUES IN AUSTIN, UM, AND THEY HAD TEAMS FROM ALL OVER THE WORLD, UH, SUBMIT SOLUTIONS.

I DO WANNA BE CLEAR THE TEAMS WEREN'T ASKED TO NECESSARILY SOLVE AUSTIN'S PROBLEMS. WE GAVE, UH, DATA ABOUT CHALLENGES IN AUSTIN TO GIVE THEM EXAMPLES OF WHAT THESE PROBLEMS MIGHT LOOK LIKE.

A LOT OF THESE TEAMS WERE INTERNATIONAL, AND THEY APPLIED THAT TYPE OF THINKING TO THEIR OWN CONTEXT.

WE WERE ALSO A JUDGE IN THAT WE WERE RECENTLY JUDGED THAT, UM, IT, IT WAS, IT'S KIND OF AN EXTENDED HACKATHON, AND THEY'RE GONNA, UM, RELEASE THE RESULTS OF THAT JUDGING, UH, I BELIEVE IN THE NEXT MONTH.

SO I'LL BE INTERESTED TO SEE, THERE WAS, THERE WAS OVER A HUNDRED SUBMISSIONS.

I THINK SOME REALLY INTERESTING, UH, THINGS THERE KIND OF ACROSS THE SPECTRUM OF USING, UH, BLOCKCHAIN TYPE TECHNOLOGIES.

UH, SO, YOU KNOW, WE'VE BEEN SUPPORTIVE.

I, I MET WITH, YOU KNOW, MORE THAN I CAN REMEMBER, UM, DIFFERENT, DIFFERENT

[00:25:01]

BUSINESSES, UH, ORGANIZATIONS THAT WERE INVOLVED WITH ARE DIRECTLY, UM, YOU KNOW, WORKING IN THE BLOCKCHAIN AND CRYPTOCURRENCY SPACES TO UNDERSTAND IF THEY REALLY VALUED IN A SUPPORTIVE ENVIRONMENT.

UM, A LOT OF THEIR FEEDBACK WAS THINGS THAT WERE FRANKLY, OUTSIDE OF THE CITY ORGANIZATION'S CONTROL NECESSARILY.

UH, WHAT THEY BASICALLY WANTED WAS A GOOD PARTNER AND SOMEONE THAT WOULD, YOU KNOW, MAKE SURE WE WERE SUPPORTIVE AND SAID, WE DON'T NEED YOU TO, TO DO THIS STUFF FOR US.

JUST, JUST BE THERE WITH US, YOU KNOW, BE GENERALLY SUPPORTIVE OF THE, THE, THE TECH AND INNOVATION ENVIRONMENT IN AUSTIN.

PARTNER WITH US ON THESE THINGS WHERE YOU CAN, UM, AND, AND LET'S JUST ALL BE BE OPEN AND PROGRESSIVE TOGETHER.

SO THAT WAS GOOD TO HEAR SOME OF THE, UH, SOME OF THE ACTIONS THAT HAVE BEEN TAKEN IN OTHER CITIES, LIKE INSTALLING BITCOIN BINDING, UH, MINING MACHINES AND CITY HALLS, AND ADOPTING CITY COINS AND STUFF LIKE THAT.

UH, INTERESTINGLY, WERE, YOU KNOW, IF THAT HAPPENED TO BE YOUR BUSINESS, SURE THEY WERE INTERESTED, BUT THEY SAID THAT THAT'S, THAT'S GREAT FOR A SHOW, BUT THAT'S NOT THE DEEPER THINGS, YOU KNOW, THAT WE REALLY WANT, WE WANT TO BE ABLE TO BUILD A COMMUNITY HERE.

AND, AND AUSTIN IS, UH, A PLACE WHERE WE CAN DO THAT.

SO, SO WE'RE CONFIDENT THAT, YOU KNOW, BY HAVING GOOD RELATIONSHIPS, BEING SUPPORTIVE, WHERE WE CAN, UM, WE ARE ENABLING THAT SPACE, UH, WITHOUT, YOU KNOW, WHAT I WOULD FEEL GETTING MAYBE TOO DEEP IN IT, IN SOME, IN SOME CASES THAT WE'VE, WE'VE SEEN IN, IN OTHER PARTS OF THE COUNTRY.

UM, AS FAR AS, UH, THE REST OF THE RESPONSE, UM, TO, TO COUNSEL WHAT WE DID IN THE INNOVATION OFFICE, WE THOUGHT THAT THIS WOULD BE A GOOD TIME FOR US TO DO A DEEP DIVE ON BLOCKCHAIN, UH, AND GIVE, UM, SOME, SOME, SOME BACKGROUND AND GUIDELINES FOR THAT THE ORGANIZATION COULD USE TO THINK ABOUT BLOCKCHAIN SOLUTIONS THAT THEY MIGHT ADOPT IN THE FUTURE.

SO, YOU KNOW, WHAT, WHAT IS BLOCKCHAIN? WHAT DO YOU NEED TO THINK ABOUT WHEN YOU'RE DELIVERING BLOCKCHAIN SOLUTIONS? AND HOW DO YOU CONTEXTUALIZE THEM WITHIN THE PROBLEM YOU'RE TRYING TO SOLVE? SO WE CREATED THESE GUIDELINES SO THAT, YOU KNOW, HOPEFULLY, YOU KNOW, IN, INTO THE FUTURE, I KNOW THINGS CHANGE QUICKLY, SO I DON'T WANT TO SAY FOREVER, BUT INTO THE FUTURE.

WHEN PEOPLE ARE THINKING ABOUT THESE TYPES OF TECHNOLOGIES THEY HAVE, THEY DON'T HAVE TO START FROM SQUARE ONE.

UM, ESPECIALLY, THEY'RE BEING OFFERED, LET'S SAY, LIKE BY A VENDOR.

UH, THEY CAN, THEY CAN HAVE SOME, SOME BACKGROUND.

SO IN THAT RESPONSE, YOU ALL SEE IT.

BUT, UM, WE GO THROUGH WHAT THE BLOCKCHAIN, UH, THE BASICS OF BLOCKCHAIN IS.

YOU KNOW, WHAT IS IT, IT IS A, UH, WAY TO BASICALLY KEEP TRACK OF TRANSACTIONS, IS, IS HOW I SAY IT.

UM, AS OPPOSED TO LIKE A DATABASE, YOU KNOW, YOU CAN PUT A LOT OF THINGS IN A DATABASE.

A BLOCKCHAIN IS GREAT PLACE TO, TO PUT SMALL AMOUNTS OF DATA.

TRANSACTIONS IS A GOOD WAY TO THINK ABOUT SMALL AMOUNTS OF DATA EVENTS, IS ANOTHER WAY YOU CAN THINK ABOUT IT.

UM, YOU ALL KNOW THESE, THESE EVENTS ARE, UM, IN BLOCKS.

THEY'RE VALIDATED BY, BY NODES.

UM, NODES ARE ORDERED FOR THAT VALIDATION OF CRYPTOCURRENCY, AND THEY'RE AT, IN THAT VALIDATED BLOCK, JOINS A CHAIN OF OTHER VALIDATED BLOCKS.

THAT CHAIN IS, UM, COPIED OR DISTRIBUTED ACROSS THOUSANDS OF COMPUTERS AROUND THE WORLD.

AND THIS IS WHY THEY SAY BLOCKCHAIN IS IMMUTABLE, BECAUSE IF ONE COPY HAS CHANGED, UH, IT'S OBVIOUS THAT ALL OF THE OTHER COPIES WOULD NOT MATCH IT BECAUSE THEY'RE, THEY'RE ALL UPDATED AT THE SAME TIME.

AND YOU COULD EASILY TELL THAT THAT COPY THAT HAD BEEN CHANGED WAS AN INVALID COPY CHAIN.

THEN, UM, THE ONLY WAY THAT YOU CAN, UH, CREATE PROBLEMS IN BLOCKCHAIN IS IF YOU IMAGINE YOU ARE ABLE TO SIMULTANEOUSLY CHANGE 51% OR MORE OF THE COPIES ALL AT THE SAME TIME, ALL IN THE SAME WAY.

AND IN THAT WAY, YOU COULDN'T ACTUALLY TELL WHICH SET OF, OF, UM, CHANGE WAS THE VALID ONE.

UH, EFFECTIVELY IMPOSSIBLE FOR LARGE CHAINS.

THAT'S WHY THEY CALL BLOCKCHAINS IMMUTABLE.

I, YOU CAN'T, YOU CAN'T ERASE THEM.

UH, YOU ALSO CAN, YOU CAN'T, UH, GO BACK AND CHANGE ANY DATA ON, ON BLOCKCHAINS, UM, WHICH WE'LL GO BACK OR WE'LL GO BACK TO LATER.

UM, SO WHAT ARE THE ADVANTAGES OF BLOCKCHAINS? LIKE I SAID, UM, THEY'RE IMMUTABLE.

THEY CAN'T BE CHANGED, SO THEY CAN BE APPENDED.

UM, SO THAT MEANS, YOU KNOW, IF YOU, IF YOU PUT THAT SOMETHING WAS A SQUARE ON A BLOCKCHAIN, UH, AND IT WASN'T ACTUALLY A SQUARE, YOU CAN'T GO BACK AND SAVE THE CIRCLE.

YOU HAVE TO LATER FOLLOW UP AND SAY, ACTUALLY THAT SQUARE UP THERE IS A CIRCLE.

UM, SO, SO THEY ARE IMMUTABLE.

UH, THIS CAN BE REALLY GOOD IN CASES WHERE THERE'S, UH, A LOT OF, UH, THERE'S, THERE'S NOT MUCH TRUST OR ABUSE.

UM, AND, AND WHERE THERE ARE, YOU KNOW, UNTRUSTWORTHY MIDDLE MEN, YOU MIGHT, YOU MIGHT THINK, UM, UH, IN SOME, UM, APPLICATIONS, UH, BLOCKCHAINS ARE TRANSPARENT, AT LEAST PUBLIC CHAINS ARE WHEN, UH, MAKE THE DISTINCTION BETWEEN, UH, PUBLIC PERMISSION AND PRIVATE CHAINS.

UH, PUBLIC BLOCKCHAINS ARE WHAT YOU USUALLY THINK

[00:30:01]

OF, LIKE ETHEREUM AND BITCOIN, UH, CHAINS.

UM, THOSE, THOSE CHAINS, YOU CAN SEE IT, YOU CAN WRITE TO IT IF YOU, IF YOU, YOU KNOW, HAVE THE APPLICATION, UM, EVERYONE CAN DO THAT, RIGHT? SO THEY ARE FULLY TRANSPARENT.

NO ONE CAN NEVER NOT SEE THE BITCOIN CHAIN.

RIGHT? UM, AND WHAT IS ON THE BITCOIN CHAIN, UH, SAME WITH THE THEORUM.

SOME OF THE OTHERS PERMISSION TO BLOCK CHAINS ARE, UM, ARE CHAINS THAT HAVE BASICALLY, UH, USER ACCESS CONTROLLED.

UM, SO ONCE, ONCE YOU'VE BEEN ALLOWED TO ACCESS A CHAIN, YOU CAN, YOU CAN WRITE TO IT AND EVERYONE CAN SEE IT.

UM, BUT, UM, WHO CAN WRITE TO IT IS, IS, UM, IS CONTROLLED.

UH, YOU CAN UNDERSTAND MAYBE IN SOME GOVERNMENT SITUATIONS WHERE THAT MIGHT BE IMPORTANT, UM, WHERE, WHERE YOU WOULD CONTROL WHO COULD OFFICIALLY ADD TO A CHAIN.

UM, AND, UM, BUT EVERYONE COULD STILL SEE IT, A PRIVATE BLOCKCHAIN, WHICH IS ACTUALLY A LOT OF THE PRODUCTS THAT YOU SEE OFFERED.

UM, NOW, ESPECIALLY IN GOVERNMENT CONTEXT.

SO LIKE IBM OR SOMEONE, WHEN THEY TALK ABOUT SOME OF THEIR BIG BLOCKCHAIN PRODUCTS, THEIR PRIVATE BLOCKCHAINS, UM, THESE ARE PRODUCTS THAT ARE FULLY CONTROLLED BY THE COMPANIES, IN MY HYPOTHETICAL EXAMPLE HERE, IBM THAT OWN THEM.

UM, SO TO ME, IN MANY CASES, THIS DEFEAT SOME OF THE PER PURPOSE OF BLOCKCHAIN, BECAUSE THESE PRIVATE COMPANIES CAN, UM, DETERMINE WHO GETS TO USE THE CHAIN, WHAT GOES ON IT, AND THEY CAN ALSO GO BACK AND CHANGE THE CHAIN SO THEY'RE NOT TOTALLY THE SAME TYPE OF DATA STRUCTURES.

SO THEY CAN, THEY CAN SOUND PRETTY ATTRACTIVE, UH, IN THAT WAY THAT THERE'S A LOT OF CONTROL.

UH, BUT AT THAT CASE, I START TO QUESTION, DO YOU ACTUALLY NEED A BLOCKCHAIN BECAUSE YOU'RE NOT REALLY USING A BLOCKCHAIN FOR THE REASONS THAT THEY EXIST.

SO, UM, IT'S, IT'S GOOD TO DIG INTO EXACTLY WHAT KIND OF PRODUCT THAT YOU'RE LOOKING AT, UM, WHEN YOU'RE LOOKING AT BLOCKCHAINS.

UM, AND FINALLY, UM, BLOCKCHAINS ARE ACCESSIBLE.

UH, THE PUBLIC CHAINS.

THERE, THERE IS NO CENTRALIZED AUTHORITY THAT CONTROLS A PUBLIC CHAIN.

ANYONE CAN BUILD AN APPLICATION, UM, AND OR WRITE TO A BLOCKCHAIN EVERY TIME YOU DO A TRANSACTION, YOU WRITE TO A BLOCKCHAIN.

UM, SO, SO THEY ARE KIND OF THE DEFINITION OF ACCESSIBILITY.

UM, IT'S ALSO WHY THEY'RE GROWING.

SO IMPLICATIONS OF THEM GETTING SO BIG.

UM, SO THEY, THEY ARE, THEYRE IMMUTABLE, TRANSPARENT, AND ACCESSIBLE.

UM, ARE, ARE SOME OF THEIR STRONGEST POINTS AS A DATA STRUCTURE THAT CAN RECORD TRANSACTIONS AND EVENTS? UM, SOME OF THE TRADE OFFS AND DISADVANTAGES.

UM, THE FLIP SIDE OF, OF WHAT I JUST SAID, REGULATION AND GOVERNANCE AND SECURITY.

UM, BLOCKCHAINS AREN'T REGULATED, AND BECAUSE THERE IS NO CENTRALIZED AUTHORITY, THEY AREN'T GOVERNED.

WE'VE ALL HEARD THE EARLY STORIES THAT LOTS OF ILLEGAL STUFF HAPPENED, UM, BECAUSE BLOCKCHAINS AREN'T GOVERNED EXACTLY.

THAT PEOPLE COULD TRANSACT ILLEGAL THINGS IN ILLEGAL WAYS AND, AND NO ONE CAN DO ANYTHING ABOUT IT.

UM, THAT'S CHANGING A LOT.

THERE'S A, AS YOU MAY ALL KNOW, THERE'S A LOT OF GOVERNANCE BEING TALKED ABOUT CRYPTOCURRENCY, AND THE WAY THAT, UH, INFORMATION BEING, UH, RECORDED ON BLOCKCHAINS, ESPECIALLY THE APPLICATIONS THAT PEOPLE USE TO RECORD THEM, ALLOWS A BIT MORE TRACEABILITY, UM, UH, IF THIS HAPPENS.

BUT STILL, THERE'S NOT A LOT OF GOVERNANCE, UM, AROUND WHO CAN WRITE TO THESE FULLY PUBLIC CHAINS.

UM, AND I BRING UP SECURITY HERE.

THIS IS A, THIS IS A BIT OF A, A SEMANTIC POINT, BUT I DO THINK IT'S AN IMPORTANT ONE.

UH, LOTS OF PEOPLE TALK ABOUT, UH, THE SECURITY OF BLOCKCHAIN.

WHEN, WHEN I TALK ABOUT SECURITY, UH, IT MEANS THAT I CAN HOLD SOMETHING AWAY FROM YOU, RIGHT? AND, AND PROTECT IT.

UH, BLOCKCHAINS ARE FULLY TRANSPARENT.

YOU CAN, YOU CAN SEE EVERYTHING ON A BLOCKCHAIN IF IT'S PUBLIC.

SO, UH, AND BECAUSE IT IS FULLY TRANSPARENT FOR ALL TIME, IT EFFECTIVELY HAS AN INFINITE ATTACK VECTOR.

YOU CAN, YOU CAN TRY AND, AND GET INTO THAT INFORMATION OR STEAL IT OR DO WHATEVER YOU WANT FOREVER, AND YOU CAN SEE IT ANYWAY.

UM, SO, SO REALLY IT'S NOT SECURE IN THE WAY WE THINK OF KEEPING STUFF BEHIND A WALL.

SO YOU CAN'T GET TO IT AND YOU CAN'T SEE IT.

IT IS IMMUTABLE.

YOU CAN'T CHANGE IT.

SO YOU CAN THINK OF IT THAT WAY, BUT, UM, IT, IT DOESN'T KEEP YOUR, YOUR INFORMATION OUT OF VIEW.

SO IT'S, IT'S A POINT I BRING UP.

CAUSE A LOT OF THE TIMES, UH, YOU KNOW, IN KIND OF POPULAR MEDIA AND THINGS LIKE THAT, PEOPLE SAY BLOCKCHAINS ARE THE MOST SECURE THING EVER.

SAY, WELL, THEY'RE THE, THEY'RE THE HARDEST THING TO CHANGE EVER, BUT THEY'RE NOT NECESSARILY GONNA HIDE YOUR INFORMATION.

UM, THE, UH, TRANSACTION SPEED OF BLOCKCHAIN CAN BE VERY SLOW.

UH, THAT'S WHY I TALK ABOUT THEY'RE VERY GOOD AT SMALL BITS OF INFORMATION.

SMALL, YOU KNOW, METADATA ABOUT A TRANSACTION IS WHAT YOU PUT ON THE BLOCKCHAIN.

YOU WOULD NEVER PUT PICTURES ON A BLOCKCHAIN, YOU WOULD NEVER PUT A MANUSCRIPT ON A BLOCKCHAIN.

THEY'RE VERY HEAVY, UH, WHEN IT COMES TO THAT, UM, THAT, UH, JUST IN THEIR STRUCTURE.

UH, FOR EXAMPLE, THE, THE BITCOIN CHAIN CAN PROCESS ABOUT SEVEN TRANSACTIONS PER SECOND, THAT'S WORLDWIDE.

UM, VISA CAN PROCESS ABOUT 24,000,

[00:35:01]

IF THAT GIVES YOU A, A, AN IDEA OF SCALE.

SO, SO, UM, YOU CAN'T WRITE BIG STUFF TO BLOCKCHAIN AND SLOW ANYWAY WHEN YOU DO.

UH, IT'S ALSO COSTLY.

UM, EVERY, EVERY, UH, TRANSACTION THAT YOU WRITE TO A BLOCKCHAIN HAS A COST, UH, SMALL KIND OF APPROPRIATE, LET'S CALL IT SIZE TRANSACTIONS ARE USUALLY LIKE TWO TO $5.

AND IF YOU'RE USING SOME TYPE OF CRYPTOCURRENCY EXCHANGE, UM, THERE'S USUALLY FEES ON TOP OF THAT.

SO YOU DO HAVE TO WATCH YOUR, YOUR FEE STRUCTURES DEPENDING ON HOW MANY PEOPLE YOU'RE DEALING WITH.

BUT IF YOU DO TRY AND WRITE BIG STUFF TO, UH, BLOCKCHAINS, UH, FOR INSTANCE, THERE ARE, UM, MULTIPLE EXAMPLES OF, OF, YOU KNOW, TRANSACTIONS PROBABLY EVERY DAY COSTING 15,000, $20,000 PER TRANSACTION, UM, ONTO BLOCKCHAINS, UH, IF THEY HAVE A LOT OF, UH, DATA OR THE TYPE OF STRUCTURE THEY ARE, EVEN THE TIME OF DAY, UH, THAT THEY HAPPEN.

UM, IT'S KIND OF A MARKET BASED SYSTEM, SO IT FLUCTUATES THROUGHOUT THE DAY.

SO YOU HAVE TO BE REALLY CAREFUL ABOUT WHAT YOU'RE WRITING TO BLOCKCHAIN IF YOU'RE USING PUBLIC BLOCKCHAINS AND THE COST OF THAT.

UM, UH, MATURITY IS ANOTHER THING WE WANNA KEEP AN EYE ON.

THIS IS A VERY YOUNG SPACE.

UM, IT'S NOT NECESSARILY A BAD THING, BUT THERE, THERE'S A LOT OF DEVELOPMENT.

WE'VE ALL SEEN, YOU KNOW, ON THE CRYPTOCURRENCY SIDE, THE MASSIVE SWINGS, YOU KNOW, LOSING 70% OR $2 TRILLION OF VALUE IN A MATTER OF A COUPLE MONTHS.

UM, AGAIN, THAT THIS ISN'T NECESSARILY A FINAL JUDGMENT ON THESE THINGS.

WE DO JUST HAVE TO REALIZE THAT WE'RE, WE'RE WORKING WITH EMERGING TECHNOLOGIES, AND THERE'S STILL A LOT OF CHANGE IN DEVELOPMENT TO HAPPEN.

UM, SO WE NEED TO BE, I THINK, UM, VERY EYES WIDE OPEN OF WHERE WE DO, UH, INNOVATIVE AND MAYBE PILOT TYPE THINGS.

AND, AND WHERE WE NEED TO UNDERSTAND THAT WE NEED TO HAVE VERY MORE MATURE SOLUTIONS, UM, TO, TO CONSIDER IMPLEMENTING THESE THINGS.

ON THE CRYPTOCURRENCY SIDE, THERE ARE, THERE HAVE BEEN A LOT OF, UM, EQUITY, UH, ISSUES, UM, NAMELY THAT, UH, FOR A LOT OF REASONS, CRYPTOCURRENCY TYPE PRODUCTS, UM, NFTS, UH, AND OTHER FINANCE RELATED PRODUCTS HAVE BEEN INCREASINGLY TARGET TOWARDS COMMUNITIES OF COLOR, UH, IN THE PAST COUPLE YEARS, ESPECIALLY, UM, ESPECIALLY KIND OF IN POPULAR CULTURE THROUGH CELEBRITIES, ET CETERA.

UM, THESE ARE EXTREMELY RISKY AND UNREGULATED FINANCIAL, UM, I DON'T EVEN KNOW IF I'LL CALL 'EM THAT, BUT WE'LL CALL 'EM THAT.

UM, AND, AND THAT'S THE NATURE OF THE, OF THEM, RIGHT? LIKE, PEOPLE KNOW THEY HAVE WILD SWINGS, UM, BUT THEY'RE OFTEN MARKETED AS A WAY TO, UM, YOU KNOW, KIND OF CIRCUMVENT THE TRADITIONAL FINANCIAL SYSTEM AND, AND GET RICH OVERNIGHT IN MANY CASES.

AND YOU HAVE A LOT OF BIG INFLUENCERS SAYING THESE TYPES OF THINGS.

THEY DON'T TALK ABOUT THE RISK.

UM, AND QUITE FRANKLY, WE HAVE A LONG HISTORY OF RISKY FINANCIAL FR PRODUCTS LIKE SUBPRIME MORTGAGES, PAYDAY LOANS, ET CETERA, THAT HAVE ALSO BEEN TARGET AT THESE COMMUNITIES WITHOUT, UM, THE, AN ADEQUATE EXPLANATION OF THE RISK THAT THESE TYPES OF PRODUCTS BRING.

SO, UM, THAT'S, THAT'S BEEN A BIG CHALLENGE.

UM, I THINK FOR US, IN, IN LOOKING IN ANY TYPE OF CRYPTOCURRENCY ESPECIALLY, UH, IS JUST A MASSIVE RISK THAT IT CARRIES, UM, ESPECIALLY AGAINST TO COMMUNITIES OF COLOR THAT THEY'RE BEING MARKETED TO.

UH, THERE ARE A COUPLE FOOTNOTES.

I DIDN'T DIVE INTO IT TOO MUCH IN THE REPORT.

UH, THERE'S, THERE'S SOME PRETTY WILD EXAMPLES OF, OF, UM, YOU KNOW, KIND OF PEOPLE TAKING OVER PARTS OF, OF DEVELOPING COUNTRIES WITH THESE SORT OF BLOCKCHAIN BASED CITIES.

IT, IT'S, IT'S, IT'S STRANGER THAN FICTION.

I, UH, URGE YOU TO READ THOSE PIECES, UM, THAT IT'S ALSO PRETTY SOBERING AND SCARY.

UH, BUT NEEDLESS TO SAY, SILICON VALLEY IS, UM, CERTAINLY DOING, ITS, ITS WORLD BUILDING.

UM, NOT, NOT HERE NEAR HERE, BUT NOT IN GREAT WAYS.

UM, MOSTLY IN CENTRAL AMERICA, AND IT'S WRAPPED UP IN THESE BLOCKCHAIN TECHNOLOGIES.

UM, AND THEN FINALLY, UH, YOU KNOW, ANOTHER CONSIDERATION TO TAKE IN, UM, ON THESE, UH, TECHNOLOGIES IN GENERAL IS, UH, SUSTAINABILITY, CLIMATE AND RESILIENCE CONSIDERATIONS.

TEXAS IS, UH, RAPIDLY BECOMING, IF NOT THE MOST, UM, POPULAR STATE FOR BLOCKCHAIN OR, UH, CRYPTOCURRENCY MINING, UM, IN THE UNITED STATES.

UH, THIS IS BECAUSE OUR VERY FAVORABLE REGULATORY ENVIRONMENT AND OUR OIL AND GAS ENERGY PRODUCTION.

UM, IT TAKES MONSTROUS AMOUNTS OF ENERGY, ENERGY TO MINE, UM, ON, UH, CHAINS THAT USE, UM, A PROOF OF WORK CONSENSUS MECHANISM.

THAT'S A MOUTHFUL.

BASICALLY, THE, THE MATH PROBLEMS THAT THE COMPUTERS DO, UH, TO VALIDATE THAT A, A BLOCK IS ACCURATE, UM, AND GET PAID OUT FOR CRYPTOCURRENCY.

SO, UM, THAT'S WHAT, THAT'S HOW YOU GET AWARDED CRYPTOCURRENCY, RIGHT? THAT'S WHAT MINING IS CALLED.

SO, UH, CHAINS LIKE BITCOIN TAKE A MASSIVE AMOUNT OF ENERGY TO DO THIS, BECAUSE AS THE CHAIN GROWS, IT GETS MORE COMPLICATED.

YOU NEED MORE POWER TO DO IT, SO IT'S JUST GETTING WORSE AND WORSE AND WORSE.

UM, LAST TIME I LOOKED, THERE'S AN INTERESTING LINK

[00:40:01]

IN THE, IN THE REPORT.

UM, I THINK CAMBRIDGE, UH, DOES, UH, A COMPARISON OF HOW MUCH THE BITCOIN CHAIN TAKES, UM, TO RUN ENERGY WISE COMPARED TO COUNTRIES.

LAST ONE WAS THE PHILIPPINES.

UH, SO THE, THE BITCOIN CHAIN ITSELF TAKES AS MUCH ENERGY ANNUALLY AS THE PHILIPPINES.

UM, A LOT OF THIS IS RELATED TO FOSSIL FUELS.

UM, SO IT HAS PRETTY, PRETTY MASSIVE, UM, CLIMATE IMPLICATIONS FOR WHAT I WOULD SAY NOW IS RELATIVELY A LITTLE UTILITY.

UM, AS FAR AS ACTUALLY DOING THINGS, YOU KNOW, THIS IS A DEVELOPING SPACE, BUT, UH, MOST DEVELOPING SPACES, UM, I WOULD SAY MAYBE, MAYBE PROVIDE A LITTLE MORE UTILITY FOR THE AMOUNT OF, OF, OF CLIMATE IMPACT THAT THESE DO HAVE.

UH, WE ALSO DO KNOW THAT THERE'S A PRETTY BIG STRAIN ON OUR ELECTRIC GI GRID ALREADY IN TEXAS.

UM, AND THERE HAS BEEN SOME STUDIES DONE THAT I, UM, I LINKED IN HERE THAT SAY, EFFECTIVELY IF, IF THE AMOUNT OF CRYPTOCURRENCY MINING IS BUILT OUT, UM, THAT IS PROJECTED TO AND COULDN'T HANDLE IT, UH, SO, SO WE WILL HAVE TO FIGURE OUT WHAT TO DO ABOUT THAT.

UM, AND, AND I DON'T KNOW IF ANYONE HAS A GREAT, A GREAT PLAN IN THE, IN THE TIME SPANS THAT WE'RE TALKING ABOUT HERE.

AGAIN, THIS IS MOSTLY RELATED TO CRYPTOCURRENCY, UH, BUT, BUT A APPLICABLE TO THIS DISCUSSION.

SO, UM, THERE ARE OTHER TYPES OF CONSENSUS MECHANISMS ON OTHER CHAINS THAT ARE, THAT ARE MASSIVELY MORE EFFICIENT.

UH, FOR EXAMPLE, THE ETHEREUM CHAIN, UM, AND, AND THE CHAINS THAT, THAT LINK OFF OF IT, UH, HAVE, HAVE A MUCH MORE EFFICIENT, UM, PROOF OF STAKE, UH, CONSENSUS MECHANISM.

UM, BUT I DO THINK IT'S IMPORTANT BECAUSE THE BITCOIN CHAIN IS THE BIGGEST AND MOST POPULAR CHAIN IN THE WORLD RIGHT NOW.

UH, AND I DON'T, AND I THINK IT'LL STAY THAT WAY FOR A WHILE, THAT WE DO HAVE TO TAKE INTO CONSIDERATION, YOU KNOW, WHAT, WHAT CHAINS WE'RE USING AND, AND, AND BE CLEAR ABOUT THE CLIMATE IMPLICATIONS OF, OF THOSE, UM, AND DIG INTO WHAT THOSE CONSENSUS MECHANISMS ARE.

UM, SO WHEN, UH, WE TALKED ABOUT, UH, GUIDELINES FOR CONSIDERING BLOCKCHAIN SOLUTIONS, NOW THAT YOU HAVE THAT BACKGROUND, UM, I'M GONNA SEE IF I CAN SHARE MY SCREEN.

DOESN'T LOOK LIKE IT'S GONNA LET ME, UM, SO THAT'S OKAY.

I'LL READ 'EM OFF TO YOU.

UM, I THINK THEY JUST ENABLED IT FOR YOU IF YOU WANTED TO.

OH, THERE WE GO.

LOOK AT THAT.

WHAT, WHAT SERVICE? UM, I THINK THIS IS THE RIGHT WINDOW.

LET'S SEE YOU.

YEAH, HOPEFULLY Y'ALL CAN SEE MY SCREEN HERE.

CAN, SO WE, WE EFFECTIVELY SAID, YOU KNOW, DEPARTMENTS, WHOEVER IS CONSIDERING THIS IN THE CITY, YOU KNOW, THIS IS HOW YOU CAN, YOU CAN ASSESS WHETHER YOU MIGHT NEED A BLOCKCHAIN SOLUTION, NOT NECESSARILY WHAT FEATURES YOU NEED, BUT YOU KNOW, IF YOU EVEN NEED TO THINK ABOUT BLOCKCHAIN IN GENERAL.

AND WHAT WE SAID ARE, ARE YOU, UH, SEARCHING FOR A PROCESS THAT INVOLVES RECORDING TRANSACTIONS OR EVENTS THAT ARE RELATIVELY SMALL AND SIZED FROM A DATA STANDPOINT? UM, DOES YOUR INFORMATION NEED TO BE RECORDED ON AN IMMUTABLE LEDGER THAT CAN NEVER BE CHANGED.

ONLY APPENDED.

DOES THE INFORMATION NEED INFREQUENT UPDATING CHANGES IN DELETIONS? UM, IS, OR SHOULD THE INFORMATION BE BE AVAILABLE OR VIEWABLE TO ANYONE FOREVER? UM, OTHER TRANSACTIONS OR EVENTS YOU NEED TO RECORD RELATIVELY NO LOW END NUMBER.

UH, DOES THE BLOCKCHAIN PRODUCT YOU'RE CONSIDERING RELY ON A CONSENSUS MECHANISM THAT'S ENTERED EFFICIENT? IS THERE REGULATION OR NETWORK WIDE, NETWORK WIDE PRACTICE THAT REQUIRES YOUR INFORMATION TO BE RECORDED IN A CERTAIN PLACE AND OR BY A SPECIFIC ENTITY? AND THIS ONE IS, UH, I WROTE, I'LL EXPLAIN THIS ONE NOW.

IT'S, IT'S BECAUSE IF IT DOES A BLOCKCHAIN SOLUTION MAY BE REDUNDANT.

BASICALLY, IF YOU'RE, IF YOU'RE REQUIRED TO RECORD SOME INFORMATION WITH SOME STATE ENTITY, FOR EXAMPLE, YOU WOULD JUST BE REPEATING THAT WORK BY PUTTING ON A BLOCKCHAIN, YOU'RE STILL GONNA HAVE TO REPORT IT TO THEM ANYWAY.

SO IT'S DUPLICATION OF WORK.

UH, AND THEN THE FINALLY, IS THERE LITTLE OR NO EXPOSURE TO, TO CRYPTOCURRENCY MARKETS? UM, BASICALLY IF, IF YOU ANSWER NO TO ANY OF THOSE, UH, QUESTIONS, THEN, THEN YOU SHOULD MAYBE CONSIDER A DIFFERENT TYPE OF TECHNOLOGY, UM, OR A DIFFERENT TYPE OF APPROACH TO THE PROBLEM.

UM, AND, AND THOSE LINK UP TO THOSE, THOSE, UM, SOME OF THOSE KIND OF TRADE OFFS AND, AND CONSIDERATIONS ABOVE.

IF YOU CAN ANSWER YES TO ALL THOSE, THEN YOU MAY ACTUALLY HAVE A REALLY GOOD USE FOR, FOR BLOCKCHAIN.

UM, AND I DO THINK IT'S IMPORTANT TO POINT OUT HERE, YOU KNOW, AT LEAST FROM MY STANDPOINT WHEN I LOOK AT THESE IS THAT, YOU KNOW, BLOCK BLOCKCHAIN IS A, IS A, IS A DATA STRUCTURE, RIGHT? IT'S A TECHNOLOGY.

IT'S BEEN BUILT INTO A LOT MORE THAN THAT IN POPULAR CULTURE, BUT THAT'S WHAT IT IS.

AND THERE'S A LOT OF DATA STRUCTURES AND TECHNOLOGIES THAT ARE OUT THERE THAT HAVE VERY SPECIFIC USES.

AND, AND IT'S, IT'S EXCITING TO BE ABLE TO HAVE ALL THESE TYPES OF TOOLS AND OPTIMIZE AND IN VARIOUS TECH STACKS, UM, UH, DEPENDING ON THE CHALLENGES YOU'RE TRYING TO SOLVE.

SO I JUST WANT PEOPLE TO UNDERSTAND IT FOR WHAT IT IS, UM, AND MAKE REALLY GOOD CHOICES.

CUZ AGAIN, WE FOUND IN THE LIFE FILES PROJECT, THERE ARE PLACES WHERE IT WORKS BEAUTIFULLY.

[00:45:02]

CAN'T USE ANYTHING ELSE, BUT THERE'S A LOT OF PLACES WHERE PEOPLE TELL YOU THAT YOU SHOULD USE IT, THAT YOU SHOULDN'T, RIGHT? JUST BECAUSE OF THE KIND OF CLIMATE WE'RE IN, THE HYPE CYCLE WE'RE IN, UM, A LOT OF TIMES I SAY IT'S KINDA LIKE LINUX, IF YOU REMEMBER, YOU KNOW, LINUX WAS, WAS SORT OF PUSHED AS LIKE A VERY, UM, USER BASED OPERATING SYSTEM.

PEOPLE TRY TO MAKE ALL TYPES OF STUFF THAT WAS VERY, UH, TANGIBLE WITH IT.

UH, AND IF IT'S JUST, NONE OF 'EM WERE VERY GOOD.

UM, BUT NOW LENOX IS THE BACKBONE OF, OF TONS OF TECHNOLOGY.

YOU NEVER KNOW IT'S THERE, RIGHT? LIKE, NO ONE TALKS ABOUT USING LINUX, BUT IT'S, IT'S ALL OVER THE PLACE.

I THINK BLOCKCHAIN WILL BE LIKE THAT, WILL YOU.

IT WILL BE CORE TO SO MANY TECHNOLOGIES, THE FUTURE, AND WE'RE NEVER GONNA KNOW WE'RE USING IT.

UM, AND IT'LL KIND OF BE PAST HYPE CYCLE WHERE PEOPLE ARE TRYING TO PUT IT FRONT AND CENTER, UM, AS THE, THE MAIN SELLING POINT OF THEIR PRODUCT.

UM, FINALLY I LISTED SOME ALTERNATIVE TECHNOLOGIES.

UH, AGAIN, THIS IS JUST THE PEOPLE THINKING, UM, ABOUT, YOU KNOW, WHAT, BLOCKCHAIN IS A TECHNOLOGY.

CENTRALIZED DATABASES.

THERE ARE DISTRIBUTED DATABASES THAT AREN'T BASED ON A BLOCKCHAIN.

UM, THERE'S OTHER TYPES OF DISTRIBUTED LEDGERS, UH, USED FOR, AGAIN, UM, RECORDING EVENTS AND TRANSACTIONS ARE BASED ON, UM, BLOCKCHAIN.

THERE'S ALSO CENTRALIZED LEDGERS THAT YOU COULD DO THAT DECENTRALIZED STORAGE AND CLOUD STORAGE.

UM, I'M NOT NECESSARILY SAYING THESE ARE PERFECT PARALLELS, UH, TO BLOCKCHAIN, BUT THEY, THEY PLAY IN THE SAME TYPE OF WORLDS.

AND AGAIN, I JUST WANNA GIVE PEOPLE THINKING ABOUT DIFFERENT TYPES OF SOLUTIONS.

I UNDERSTAND, UH, PEOPLE AREN'T TECHNOLOGISTS.

I WOULDN'T EVEN CALL MYSELF ONE.

AND WE DEFINITELY RECOMMEND, UM, IN THESE GUIDANCE AND OTHERWISE THAT YOU TALK TO CTM, UM, OR OTHERS TO, TO, TO DO THE TECHNICAL HEAVY LIFTING ON HELPING YOU BUILD THIS OUT.

UM, BUT JUST HELPING PEOPLE UNDERSTAND THEIR OPTIONS AS THEY'RE CONSIDERING, UM, THE, THESE TYPES OF TECHNOLOGIES AND PRODUCTS.

FINALLY IN THE REPORT WITH SOME, UM, POTENTIAL, UH, APPLICATIONS FOR GOVERNMENT, UH, THAT WE THINK MIGHT BE PROMISING.

AGAIN, A LOT OF THESE SOLUTIONS ARE VERY EARLY STAGE, SO I DON'T THINK WE'LL BE ADOPTING ANY OF THEM, UM, FULLY IN THE FUTURE.

BUT, UH, I THINK SOME EXCITING SPACES ARE DIGITAL IDENTITY AND DOCUMENTATION VALIDATION, UM, RECORDS VALIDATION AND MANAGEMENT.

UH, SMART CONTRACTS FOR SERVICE ADMINISTRATION AND ELIGIBILITY VERIFICATION.

UM, YOU PROBABLY ALL KNOW, SMART CONTRACTS ARE BASICALLY LITTLE BITS OF CODE.

THEY'RE, UM, THAT, THAT RUN AUTOMATICALLY WHEN A SET OF CONDITIONS ARE MET.

UM, AND, AND THEY'RE RECORDED BASICALLY, WHEN A SET OF CONDITIONS IS SUBMITTED TO A BLOCKCHAIN, THAT THAT SATISFIES, UM, A CODE, IT, IT RUNS AND SOMETHING HAPPENS, RIGHT? SO LIKE, IF YOU SELL AN NFT, IT MAY HAVE A SMART CONTRACTOR CONNECTED TO IT THAT SAYS, SEND SOME AMOUNT OF ROYALTY TO THE ORIGINAL ARTIST, RIGHT? AND EVERY TIME THAT SALE HAPPENS, THAT AUTOMATICALLY HAPPENS.

SO, UH, THAT'S AN INTERESTING POTENTIAL APPLICATION THERE.

UH, ASSET OWNERSHIP AND TRANSFER TRACKING, UM, SUPPLY CHAIN VALIDATION AND MANAGEMENT, THOSE TWO THINGS ARE RELATED.

UH, AND THEN TRANSPARENCY AND ACCOUNTING, UH, VENDOR AND CONTRACT MANAGEMENT, UM, I THINK ARE SOME OTHER POTENTIAL.

SO IT'S A REALLY EXCITING SPACE.

UM, IT'S A, IT'S A FASCINATING TECHNOLOGY.

UM, I THINK IT, AGAIN, WHEN COMBINED WITH OTHERS CAN BE HIGHLY USEFUL.

UH, IT IS, UH, IT IS A DEVELOPING SPACE THOUGH, AND, AND A LOT OF TIMES IT'S BEING SOLD AS, AS A, AS A FULL PRODUCT WHEN IT PROBABLY SHOULD BE A FEATURE OF A PRODUCT.

UM, I KNOW, UH, I'M RUNNING UP ON TIME HERE, SO, UH, WE'LL TALK ABOUT, UM, BASICALLY THE, THE CRYPTOCURRENCY PIECE OF THIS, UM, LAW AND FINANCE, UH, EFFECTIVELY DETERMINED THAT WE CAN'T HOLD CRYPTOCURRENCY.

UM, WE, IF WE WERE GIVEN CRYPTOCURRENCY FOR A PAYMENT, WE WOULD'VE, WE WOULD HAVE TO HAVE SOME TYPE OF APPLICATION OR VENDOR TO CONVERT THAT PAYMENT TO, UM, TO DOLLARS.

UH, AND THEN TO PUT THAT ON OUR BOOKS, UH, IT IS POSSIBLE.

UM, BUT, YOU KNOW, KIND OF QUESTION IS WHAT PROBLEM IS IT SOLVING AND WOULD IT BE WORTH THE COST OF SETTING UP THAT HUGE SYSTEM, UH, OR I WON'T CALL IT HUGE, BUT THAT SYSTEM TO ENABLE THAT.

UM, YOU KNOW, I DON'T, WE, WE DON'T REALLY KNOW IF WE HAVE A PROBLEM THAT, THAT, THAT TYPE OF SOLUTION WOULD BE SOLVING.

SO IT IS POSSIBLE.

UM, THE GENERAL GUIDANCE THOUGH, UH, FROM LIKE THE GOVERNMENT FINANCE OFFICERS ASSOCIATION RIGHT NOW IS, UH, TO WAIT UNTIL THE VOLATILITY SETTLES DOWN BEFORE, UM, ACTUALLY DELVING OFFICIALLY INTO ANY OF THOSE TYPES OF MARKETS.

SO, UH, AS OF NOW, THE CITY WON'T BE, UM, ACCEPTING CRYPTOCURRENCY, UH, FOR PAYMENTS OR ADOPTING A CITY COIN OR ANYTHING LIKE THAT.

NOT SAYING IT MAY NOT CHANGE IN THE FUTURE AS IT DEVELOPS, BUT AT THIS MOMENT, UM, THAT'S WHERE WE ARE.

SO, I'LL TAKE A BREATH, .

UH, BUT I KNOW THAT WAS A LOT.

THANK YOU FOR LETTING ME SPEW IT ALL OUT.

AND I WOULD LOVE TO, TO ANSWER ANY QUESTIONS THAT YOU MIGHT HAVE.

OKAY.

THANK YOU FOR THAT.

FIRST, LET ME PUT EVERYONE ON PAUSE FOR A MOMENT BECAUSE, UH, DANIEL MADE IT CLEAR HE ONLY HAD SO MUCH TIME, UH, FOR THIS PRESENTATION IN LIGHT OF WHAT HE'S GOT, UH,

[00:50:01]

UH, AS A BUNDLE OF JOY, UH, TO MANAGE THERE AT THE HOUSE.

SO, UH, I, WE WOULD LIKE TO LEVEL SET WITH YOU, DANIEL.

DO, DO YOU, UH, HOW MUCH TIME DO YOU WANNA GIVE US YOUR QUESTIONS HERE TODAY? UM, I THINK IF WE GOT 10 MINUTES, THAT'D BE GREAT.

OKAY.

WELL, THAT'S VERY GENEROUS.

WE REALLY APPRECIATE THAT.

UH, AND LEMME BEGIN BY SAYING THAT, UH, YOU KNOW, THANK YOU AGAIN FOR THIS TIME, ESPECIALLY ON THE CIRCUMSTANCES AND FOR THIS UPDATE, UH, I WANT TO MAKE MENTION OF THE FACT THAT THIS PARTICULAR UPDATE WAS INSPIRED BY, UH, ENGAGEMENT WITH ONE OF OUR COMMISSIONERS THAT ACTUALLY, UH, BROUGHT THIS UP, UH, SEVERAL MONTHS AGO IN CITIZEN COMMUNICATION.

AND, UH, WHO HAPPENS TO BE A COMMISSIONER, FORMER, UH, TECHNOLOGY COMMISSIONER THAT'S NOW ON THE LIBRARY COMMISSION, UH, COMMISSIONER ROSENTHAL.

AND ALTHOUGH THEY COULDN'T BE HERE TODAY, THEY DID ACTUALLY, UH, SHE DID ACTUALLY SHARE WITH ME, UH, SOME THOUGHTS AND, UH, QUESTIONS IN LIGHT OF THE FACT THAT, UH, THEY INSPIRED THIS PRESENTATION.

SO I'D LIKE TO BEGIN WITH THOSE, AND AGAIN, I WANNA MAKE IT CLEAR THESE AREN'T MY THOUGHTS.

UH, THESE ARE COMMISSIONER ROSEN THOUGHTS, THOUGHTS, AND THEN I'D LIKE TO GIVE OUR, OUR COMMISSIONERS A CHANCE TO REACT TO THOSE AS WELL AS, UH, TO THE ANSWERS AND THEN TO PROVIDE YOUR OWN QUESTIONS.

SO, BEGINNING, UH, COMMISSIONER ROSENTHAL STATES, I WOULDN'T, UH, CHARACTERIZE THE LIVE FILES PROJECT AS A SUCCESS.

UH, IT HASN'T BEEN DEPLOYED, WHICH WOULD BE PREREQUISITE TO CLAIMING SUCCESS.

UH, THERE CLEARLY ARE ISSUES WITH HINDERING DEPLOYMENT, AND I'D BE CONCERNED THAT THE USE OF BLOCKCHAIN INSTEAD OF WELL UNDERSTOOD COMMISSIONAL TECHNOLOGIES MAY BE CONTRIBUTING.

UH, I MIGHT SURE YOU'D LIKE TO REACT TO THAT.

I THINK YOU ADDRESS SOME OF THOSE ISSUES IN YOUR STATEMENT, UH, FRANKLY, UH, DANIEL, BUT I'D LIKE TO GIVE YOU A CHANCE TO REACT TO THAT IF YOU'D LIKE.

SURE.

YEAH.

I MEAN, IF, JUST IF IT PROVIDES SOME CLARIFICATION, I CERTAINLY HEAR THAT POINT IT HASN'T BEEN DEPLOYED.

UM, THE MAIN POINT, OR THE MAIN REASON WE HAVEN'T, UM, AND WE MADE THAT CHOICE WAS, WAS DUE TO GOVERNANCE.

UM, WE WANNA MAKE SURE THAT WE HAVE A SUSTAINABLE GOVERNANCE MODEL OF WHO COULD OWN THIS, UH, TECHNOLOGY, UM, AS AN EXTENDED BEYOND AUSTIN.

UH, SO WE, WE KNEW THAT THE CITY PROBABLY COULDN'T, COULDN'T OWN SOMETHING THAT, THAT SERVED, YOU KNOW, SORT OF, UH, A BOUNDARYLESS, UM, POPULATION.

UM, AND, AND BLOCKCHAIN IS, IS A VERY, VERY TINY, UH, PART OF THAT TEXT PACKAGE USED FOR ONE VALIDATION STEP FOR DOCUMENTS.

SO, UM, YEAH, WE, WE DID DO A, A PRETTY THOROUGH, UM, EVALUATION AND FOUND THAT IT WAS, IT WAS ONLY GOOD FOR THAT AND NOT GOOD FOR THE REST OF IT, UH, WHICH WAS GOOD.

UM, AND, YOU KNOW, I HOPE TO FIND A GOOD PARTNER THAT CAN HELP US DEPLOY THAT, UM, ONE DAY.

BUT I DO THINK IT WAS SUCCESSFUL IN, IN THE R AND D, UH, PROJECT THAT IT WAS ALWAYS FRAMED, UH, TO BE, WE LEARNED A LOT AND, AND, AND FOUND OUR STANCE, UM, THERE AND, AND, AND YEAH, A LOT OF THE LESSONS WE LEARNED ARE IN PLAY TODAY.

SO, UH, CERTAINLY APPRECIATE THAT PERSPECTIVE.

THANK YOU.

AND THE NEXT STATEMENT HERE, YOU LITERALLY JUST ADDRESSED, IF YOU DIDN'T ALREADY EARLIER, UH, THEY, UH, THEN ASK, OR, OR STATE, UH, THE CITY APPARENTLY RECEIVED INFORMATION FROM NUMEROUS BLOCKCHAIN SUPPORTERS IN PREPARING FOR THE SUPPORT, AND ACTUALLY DID SPEAK TO THAT EARLIER.

UH, THERE ARE ALSO MANY TECHNOLOGY PEOPLE WHO ARE CRITICAL OF THIS TECHNOLOGY.

UH, AS YOU MENTIONED, IT ISN'T CLEAR THAT THEY WERE CONSIDERED RESOURCES IN PREPARING THIS REPORT.

UM, AND I, I CAN'T SAY THAT'S THE CASE, BUT THAT, THAT'S THEIR FEEDBACK.

UH, ANY A STATEMENT OF, OF OR FEEDBACK ON THAT? UM, I, I CAN SAY I HAD A SPECTRUM OF OPINIONS , UM, OR, OR A SPECTRUM OF, OF, OF REPRESENTED, UM, POSITIONS AND EXPERTISES AS WE WERE PUTTING THIS TOGETHER.

SO I, I'M SORRY I DIDN'T MAKE THAT AS CLEAR AS I COULD HAVE.

UM, BUT WE WERE, WE WERE VERY INTENTIONAL IN MAKING SURE TO TRY AND GET, GET ALL SIDES, UM, AS WE REVIEWED.

I APPRECIATE THAT.

IN FACT, I, I, I WOULD, UH, HAVE APPRECIATED, UH, GETTING THE REACTION FROM OUR PUBLIC, FROM OUR COMMISSIONER, FROM, FROM OTHERS AS WELL AFTER YOUR, YOUR MEMOS, WHICH CLEARLY ADDRESSED MANY OF THESE ISSUES.

UH, THEN NOW, UH, THE GUIDELINES FOR CONSIDERING SECTION DOES MENTION THE IMPORTANCE OF CONSIDERING CONVENTIONAL TECHNOLOGY, UH, BUT REALLY SHOULD INCLUDE A POINT SUCH AS WOULD BLOCKCHAIN IMPLEMENTATION, UH, BE SUPERIOR, UH, SOLUTION TO CONVENTIONAL TECHNOLOGIES? I WANT TO SAY THAT YOU'VE ALREADY ADDRESSED THIS PRETTY SOUNDLY WITH YOUR, UH, YOUR, YOUR GUIDE, WHICH DESCRIBES, YOU KNOW, THE QUESTIONS THAT YOU CAN ASK YOU TO ANSWER.

IF YOU ANSWER NO TO THESE QUESTIONS, THEN YOU SHOULD CONSIDER BLOCKCHAIN.

I THINK THAT DOES A THOROUGH JOB OF ADDRESSING THAT.

WOULD YOU LIKE TO ADD ANYTHING TO THAT? UM, I MEAN THAT, HOPEFULLY THAT'S WHAT THOSE GUIDELINES ACCOMPLISH.

UM, THE ONLY THING I'LL ADD IS THAT THIS IS CERTAINLY, UM, LIVING GUIDANCE THAT WE HOPE TO, TO UPDATE IN ANY, ANY OTHER INPUT IS WELCOME.

AND I AM, I'M HAPPY TO ADD OR MODIFY THAT GUIDANCE, YOU KNOW, AS, AS WE RECEIVE IT.

AND IF WE, IF WE FOUND BETTER ONES OR ADDITIONAL ONES,

[00:55:01]

WE, WE'D CERTAINLY LOOK AT THAT.

THANK YOU.

AND THEN LASTLY HERE, UH, SHE SAYS, I THINK THE ALTERNATIVE TECHNOLOGY SECTION SHOULD HAVE DISCUSSED DIGITAL SIGNING.

UH, THAT'S A WELL UNDERSTOOD METHOD TO PROVE INFORMATION IS AUTHENTIC AND IMMUTABLE.

THAT'S NOT A NOVEL FEATURE TO BLOCKCHAIN.

UH, THE ENTIRETY OF, SO THE SECURE WEB HTTPS DEPENDS ON DIGITAL SIGNING.

ANY THOUGHTS OR FEEDBACK ON THAT STATEMENT? YEAH, I MEAN, THE, THE CITY'S BEEN, UM, LOOKING INTO AND STARTING TO ADOPT DIGITAL SIGNING TECHNOLOGIES.

UM, I WAS, I THINK WHEN PUTTING THAT TOGETHER WAS MORE THINKING OF WAYS TO, TO, TO RECORD AND COMPILE, UH, DATA.

BUT, YOU KNOW, CERTAINLY THE, THE DATA VALIDATION PIECE, UM, AND, AND DIGITAL SIGNATURE THERE WOULD, WOULD BE VALID THERE.

SO YEAH, THAT, THAT WOULD BE A GOOD ADDITION TO THAT SECTION.

OKAY, GREAT.

NOW I'VE GOT, UH, A POTENTIAL QUESTION, BUT I WANNA HOLD ONTO IT AND OPEN IT UP TO THE FLOOR.

AND I'D LIKE TO BEGIN, UH, I DON'T SEE ANYONE, WELL, I SEE COMMISSION YATES, HE'S QUICKLY RAISED HIS HAND.

AND THEN WE'LL GO TO COMMISSIONER DUTA.

UH, YES PLEASE, GENTLEMEN.

UH, COMMISSIONER YATES, I HAVE A QUESTION ABOUT, UH, CRYPTOCURRENCY THAT I, I'VE NEVER GOTTEN ANSWERED.

SO YOU SAID THAT, UH, CRYPTOCURRENCY MINORS ARE PAID IN BITCOINS.

NOW, AS I UNDERSTAND IT, THERE ARE A FINITE NUMBER OF BITCOINS.

SO AT SOME POINT IN THE FUTURE, WHEN THE NUMBER OF BITCOINS ARE TOTALLY ALLOCATED, HOW ARE BITCOIN MINERS PAID? I GUESS THEY WON'T BE AT THAT POINT.

THEY WILL JUST BE, UM, BITCOINS WILL JUST BE TRADED.

UH, IT'S A GOOD QUESTION.

UH, I, I THINK THE TRANSACTIONS WILL JUST BE LIKE, SO HONORS AT SOME POINT THAT THE, THE ISSUANCE OF THOSE COINS WILL BE VERY FEW AND FAR BETWEEN BASED ON THE AMOUNT OF WORK GOING INTO 'EM.

UM, BUT AT, YEAH, AT SOME POINT THERE WILL BE NO MORE, UM, NO MORE COINS TO BE ISSUED.

AND I ACTUALLY DON'T HAVE A,