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Algorand Europe Accelerator: CashDillo & Origino!
Recorded: Jan. 19, 2023 Duration: 1:03:00Space Recording
Full Transcription
And I see our guests are already starting to join.
Yes, a second.
Hey, Cash Dilo, can you hear us just fine?
Cash Dilo, you might be on mute.
Hey, Cash, can you try unmuting yourself?
Sure.
Hi there.
There we go.
I just want to check that you can hear me.
Yep.
Fantastic.
Fantastic.
Yeah.
All right.
Thank you very much.
All right.
We just give it another second.
We're just waiting for the team from Orohino to join us as well.
And then we're going to get started.
And I also see the team from Orohino Accelerate is already live.
Orohino Accelerate, if you want to become a speaker as well, just please hit the mic request button, okay?
So, yeah, we'll get started in just a quick minute.
Hey, Schizo, is this Nico?
Fantastic.
I'm doing great.
How are you?
Awesome.
Awesome.
I was undercover.
Yes.
That's why I didn't immediately recognize.
Thank you very much.
All right.
It looks like we have everybody to get started today.
So, let's jump right into this.
So, I'm just going to start with a brief round of introductions.
As most of you already know, I'm Fred Asante, head of product marketing at the Argonne Foundation.
Today, I'm joined by Matt Keller, our head of social impact here at the Argonne Foundation as well.
And, of course, our guests for the day are Alex and Gabriel, co-founders at Cash Dillow, and Nico Bellestrini, COO at Orohino.
And just to give you a brief introduction of who the guests actually are, so Matt Keller directs the impact inclusion vertical here at the Argonne Foundation, leading the design and development of strategies to increase the use of the algorithm blockchain to achieve financial inclusion, social impact, and environmental sustainability.
In previous lives, Matt was a lobbyist on the Capitol Hill to advance the cause of campaign finance and voting rights reform in the United States.
He was also the executive director of the Global Learning X Prize, sponsored by Elon Musk, vice president of One Laptop per Child.
He was also a legal counsel for the United Nations World Food Program in Rome, Italy.
He was also a legislative aide to a United States senator and legal aide attorney for migrant farm workers in Arizona.
And from Cash Dillow, I'm joined by Alex, who is a co-founder.
After a career in aid and development, journalism, and running projects in East Africa, Alex got increasingly frustrated by what he refers to as the aid industrial complex.
He founded Cash Dillow being motivated by distributed ledger technology, driving transparency, and the opportunity to build trust between donors and the recipients of bait, making donation processes more inclusive and direct, motivating him to build Cash Dillow's tech on Argonne.
And I'm also joined by his co-founder, Gabriel.
Gabriel, after two decades of work in international business and project management, he firmly believes that blockchain technology will reduce the transaction costs, brought inefficiencies, and trust issues stemming from intermediaries.
He's in global aid and development.
For him, responsible and social impact-focused businesses are essential to closing the funding gap and to create a positive change in the way Global North interacts with the Global South.
And then from original, I'm joined by Nico Valestrini.
Nico is the former CEO of an Argentinian company that sold in the 2000s the first cut of meat with individual traceability of the world.
He's a naturalist and crypto crazy since 2012.
He started in 2019 a tokenization and traceability startup to transform supply chains.
Nico has a strong belief that blockchain is a technology to bring trust, transparency, and true information to all projects and assets.
I think I did a relatively decent job at introducing both Cash Dillow and original, but I'm going to start with Cash Dillow and ask Alex and Gabriel if you can give your pitch in two minutes just so the community understands exactly what you're building and what is your objective.
Sure.
Fred, this is Alex speaking.
Firstly, thank you for the invite and for the window and the platform to talk about our work.
Matt, hi.
We've met before.
So Cash Dillow is a matchmaking platform for aid and development.
I just want to check that you can hear me before I get too into the two-minute elevator pitch.
Fred, can you confirm you can hear me?
Yes, you're good.
Yes, you're good.
Perfect.
Okay.
So we're a matchmaking platform for aid and development.
So essentially, we bring together the needs of corporate donors, philanthropic donors, large NGOs who want to make grants or who want to contribute to causes in the developing world, often as part of their ESG policy, which is now regulated.
We combine that with the needs of social impact leaders and NGOs in the developing world, for us specifically at the moment in East and Southern Africa we're looking at, who are working towards sustainable development goals.
So that's kind of really the framework of a lot of aid and development.
And a lot of it works very well.
It's worth a disclaimer to say that there's a lot of people doing some really amazing work in emergency response, in fight against malnutrition, food security, water security.
There are people doing organizations that are getting it right, but unfortunately, a lot of money is getting lost to intermediaries.
The impact is not often being assessed.
The project management can sometimes be disconnected.
And so there's a lot of loss.
And that means that there's a problem that needs solving.
And I think we're in this space to solve that really with more transparency, transparency around financial transparency, around how payments work, tracking payments, sharing information about payments and doing that through the database, through the ledger, through the algorithm blockchain.
And there's also more transparency that can be achieved in terms of crowd sourcing, of evaluation, and just more transparency around decision-making and more decentralization around decision-making.
And those are all components that I'm happy to discuss in more detail that are part of our platform, Kastilla, which is currently on Algorand Testnet and looking to launch in Q3 this year.
Fantastic.
That's a beautiful mandate.
Thank you very much.
Very soon, Matt and I are going to start sending some questions our way.
But I just want to invite Nico to give an introduction to the community on what Origino is building.
Yes.
Thank you, Fred, Algorand Foundation team.
And awesome to be also with Kastilla.
I have a novel team, Rem, and it's a very nice project.
So awesome.
About Origino.
Origino was born two years ago.
And what we are doing is transforming supply chains.
And to transform supply chain is because, as you said, my former jobs and everything was about information.
Bringing information to the consumer because consumers need to know more about what they are going to buy.
A lot of certifications.
Is this slave free?
Child labor free?
So what we do is a platform that allows brands, enterprises to put a QR in the label of the product to show all the origin.
That's why we are called Origino in Esperanto.
So the origin, the provenance, history, pictures, videos, whatever you want, sustainability, a lot of sustainability.
So they can fulfill the consumer, the conscious consumer needs and also the market needs.
Because markets are asking a lot of information about deforestation, sustainability, most of them.
So what we do is we create digital twins of the minimal supply chain productive assets.
And with that, you can trace everything end-to-end usability while the products are being produced until the last and final consumer that buys the product.
So that's our core.
We use Algorand DS since two years.
We are working with Algorand, so we have a very nice history.
And we are starting this year to create this new supply chain.
I will talk later, but we are working with cattle, with cows, with pigs, with trees.
So we are helping a lot of brands to show what they are doing.
Fantastic, Nico.
Thank you very much.
All righty.
And just to make clear, moving forward to the Algorand family speakers.
So right now, you know, Matt and I are basically going to start taking turns asking both Cassie Dillow and Origino some questions.
I just asked for the speakers that will be mindful of time, so we can actually cover a lot of different topics between the two companies.
And Algorand fam, as you know, we always leave some time in the end for you to come live and ask questions.
So if you already know you're going to have any questions for them or throughout the conversation,
if you have any follow-ups, just hit the mic request button, and then, you know, maybe in 20 or 30 minutes from now,
we're going to open the floor for live community questions, okay?
So, Matt, I would like to invite you maybe to start asking the first question to either team.
Yeah, sure.
Hey, Alex, good to kind of see you again.
You know, it's interesting you talk about kind of transparency and waste and aid,
and, you know, you've kind of called it the aid industrial complex.
Give me an example of how Cassie Dillow would,
and I think the kind of the sister to waste is corruption as well, right?
I mean, I think there's a lot of kind of corruption around aid in many countries around the world.
So give us an example of how Cassie Dillow could potentially solve those problems through transparency,
and is that something that you've thought about,
and is that kind of the core of your vision and mission?
So, Matt, thank you for the question, and it is something we've thought about.
I think one of the easiest ways to address this is perhaps with just kind of a quick user story.
Let's say there's a paper company somewhere in the Midwest in the USA
that wants to spend some CSR money in somewhere in, say, let's say in Kenya,
where it's been cutting down trees in order to make paper
and therefore has operations there and wants to reinvest in the community there now.
Under the current framework, you know, there might be a partner NGO,
maybe $250,000 is given to a partner NGO, and the partner NGO writes some kind of report,
and we call that, you know, a log framework, a monitoring and evaluation framework.
It goes to a very limited set of eyes, and it's very centralized as a model.
So that's one of the things that we would like to address is how we assess impact
and how we decide whether impact has been achieved and how to achieve it.
So there's two ways for us to do that.
The first is through decentralization and voting, right,
using tokenomics to create stakeholder engagement through the whole supply chain,
offering, for example, the people who might be closest to that project
to make the opportunity to vote on it, on how it should be shaped,
on how the money should be spent, on what kind of key decisions should be taken
about positioning of a well or a school or a health center or a clinic, etc.
And the second part that we'd like to address is how we actually assess that
in terms of data and evaluation.
So we're working very closely with as many people as we can.
We've been talking to people in large international institutions to try and understand
how an evaluation framework could be improved on...
in the past myself and in development where the evaluation framework could have been stronger.
And so it's something that's into the process.
I think it's a very difficult question.
I mean, how do you assess impact?
I don't know if there is a definitive answer to that.
How do you assess impact especially is still very much an open-ended question
and one that I think even ratings agencies are struggling to define.
You know, people talk a lot about carbon offsets and carbon credits.
But I think, you know, we're seeing that system is broken because of phantom credits
and because of a lack of verification and because of a lack of logic.
And yet the system permeates and persists and grows and without it being a solution.
I think there's a lot of areas in general across aid and development that we want to address.
But I think that how we assess impact and how we decide who gets to lead impact
and how it should be implemented are important.
Yeah, I mean, I think that transparency piece is so key.
At the very least, you can prove irrefutably that, let's say,
that paper company sends that money to that local partner in Kenya.
That has been done, right?
And that's transparent that information is immutable and it's for all to see.
So that seems to me, Alex, like at least that is a big step, right?
Because that, once you know that, you can't.
Absolutely.
Absolutely.
I think that is a, even small tangible steps create strong building blocks to build on
and look to how we can reform those two questions.
Yeah, for sure.
Yeah, 100%.
Back to you, Fred.
Fantastic.
Thank you, Matt.
Thank you, Alex.
Appreciate it.
That is a very beautiful mandate.
But let me ask Nico a question then for Origino.
You know, you said that you were here to transform the supply chain industry.
Why is that so?
And how is that?
So how are you planning to actually tackle that, you know, by leveraging blockchain?
So basically, what is blockchain allowing you to do now that you couldn't do in the past,
even though you haven't been in this business for over two decades?
Well, my next question.
And I will also speak a little about what the end of cash deal on, Matt.
You were speaking about transparency.
And in supply chain, when you want to transform to have the information, you have to have more transparency and more traceability.
So that are two cores that I think both projects also have.
And Algorand and blockchain can leverage a lot.
Blockchain was born as a traceability and transparency platform technology.
And that's what it does.
It's a decentralized blockchain.
So what we do is you have to join all actors in a supply chain to know at the end what was done in each one of the different places of a product that is going to be built.
And yes, I have of Gabo a little of a background.
Gabo, can you please mute your mic, please?
Oh, yes.
Sorry.
And so what is important here is about transparency because enterprise is just as in A.
You have to have transparency and trust also in your product when you sell them.
In the 19,000, the thing was doing publicity.
Coca-Cola was the best doing direct publicity with two persons, two consumers.
But now that kind of publicity is not working.
And that's about the social media and everything.
And you have to work a lot with information.
And that's what we do.
When you have the production information because everyone wants more efficiency when they produce, want to have more revenue, you can use that info to make it transparent.
And how do we do it?
If you give an ID to each one of the production assets, for example, let's make it very easy, a cow.
A cow is born in one place, then it gets bigger in another place.
And it has like four different places where it is breeding and getting with more age.
And it goes to a slaughterhouse.
It goes to a final consumer in a package of meat of a beef.
So there are several actors.
You have to make the traceability, the information, the events that happen to that animal.
So final consumer can know what was happening in the 16 or 20 months of the age of the animal.
And that's what we help brands to do.
So when you have an NFT, you have a digital twin of each one of the cows.
You can add events, information, and you can show it.
Inside the supply chain, one actor to another actor when you transfer your NFT.
Or at the end of the supply chain, in the final product, you can show this product was done,
this fashion product was done without a child labor.
This was done in places without deforestation.
And that's the transparency that brands are needing.
And it's the same that's happened in age.
And blockchain is the best.
Nowadays, I don't know in 10 years, but nowadays, blockchain was born to do this.
Blockchain was born to be a place where you can add information about transactions if you are working in FDs
or about information if you are working in FDs.
So to resume, that's the nice thing about what we are talking about
because Matt works in inclusion, in social inclusion.
And social inclusion has a lot to do with producers.
There's producers in Latin America, in Africa, also in Europe and everywhere
that work a lot, but they don't ever see the benefits of doing things good.
And if you can show it, you can have that benefit also.
Nico, can I ask a follow-up question?
You talked about evidence.
And how do you prove that that cow is that cow and the provenance of that cow
or that particular tomato?
Yeah, that's good.
In fact, we talked...
I mean, the granularity that's required, what is that?
What is the granularity that is required to produce enough evidence
so that both consumers and regulators feel,
okay, that is what that person says it is?
Yes, it's everything about how much info you can add,
how much people will believe in you
and will see that this is effective, transparent.
For example, in your platform, you can, as a user,
you can add all the information that you want.
Okay, but you do it as yourself.
Now, what happens if you also allow a delegate,
like a vet, in the example of cows,
that can add the information by himself.
The veterinary has a thing that they cannot lie.
It's like a medical, like the doctor, sorry.
And so this is a third party that says,
you have the cows, you have done some vaccination
or something to the animals or you wake them.
So he's giving to the platform the proof of existence.
We talk a lot of proof of existence
because when you have an active,
you have the digital twin, you have events
and they are certified for third parties,
for example, also certificators or other enterprises
or maybe an insurance company that went to your place
and said, yes, I've seen these animals.
So you're adding a lot of information of third parties also.
And later, reputation.
This is like in Amazon or in,
we work in LATAM with Mercado Libre a lot
and you have reputation of,
yes, you send me these animals.
You said they had this information.
Is this true or not?
You are becoming the information.
And in the future,
it will be a decentralized,
auto-sovereign, self-sovereign identity.
But this is the work that we are doing.
You start with very little,
but it's a lot.
It's having information about something nowadays
in a supply chain is a lot.
So the future is getting better as a user,
as an enterprise.
I will add this information.
I will add this third party certificator.
So that's how we manage the information
and who creates it.
Got it.
Got it.
Thank you for that.
You're welcome.
Fantastic.
Let me ask Cachadillo a question.
I think you established the solution extremely well
and it's a very beautiful problem
that you guys are tackling.
But who exactly is your product for?
Like who are you targeting to have as your end users?
Well, that's a very good question.
We kind of have two end users,
as we said, donors and recipients.
But I think the ones to focus on
for this question are the donors.
So traditionally,
a lot of aid and development money
comes from governments
and comes from via
or from large world institutions,
again, like the World Bank and the MF,
from governments.
So we think the advent of ESG regulation
is going to mean that corporate companies
in the global north
and all over the world
are going to spend more and more money
on trying to tackle environmental and social causes,
which are, you know,
what the kind of 17 Sustainable Development Goal
is all about.
And so I think we're going to see
a huge influx of money
coming from many of those
corporate corporations and multinationals,
but also smaller companies.
ESG in Europe, for example,
will affect companies with more than 250 employees.
So it's not only huge multinationals
that we're talking about.
Now, a lot of those companies
might not have much experience
in how to set up a grant-making program
in a country that is of relevance
to their ESG policy
or that is important for their CSR strategy.
They just might simply not have the resources,
the experience,
the know-how,
the time,
or they might even just want
a kind of very simple one-step solution.
So that's why we offer
a match funding suite
where companies,
sorry, NGOs
and social impact leaders
start up, say,
in Kenya or in Tanzania,
are vetted by a platform
along sustainable development goals,
and the algorithm automatically
then matches them
with donors
who have similar priorities.
So if they're working on,
you know,
if it's a startup
led by two young women
who are building solar panels
and the donors requested
in his onboarding
or in her onboarding
that they would like to
support gender empowerment
and climate resilience,
then they're going to be matched
by the platform
and we'll begin
to develop a relationship
through milestones
and a whole series
of mechanisms
that we have in place.
And again,
the data is really key
to the donor, I think,
especially because
many of those donors
will have to then report back
to feed whatever they're doing
into their ESG reporting.
So how we standardize that data,
how we present it,
the quality of the data,
especially, I think,
quantitative data,
just really very simple
and consistent data
so that people can have
an expectation
of what it is
they're getting
in return
for their investment.
The return on value
for their investment
for them is really
that data
in many ways.
Although many of them,
I'm sure,
will be committed
to the social impact,
many of them may just
be trying to meet
their emerging ESG needs.
And also, of course,
from the philanthropic organizations,
NGOs can also use
our platform
for grant making.
But we see
our kind of key target users
as ESG departments
at large companies.
So then, so Alex,
so you're both matchmaking
with these ESG departments
and local NGOs
or multinationals
or what have you,
as well as then
providing transparency
for those donations
kind of in this kind of seamless,
almost like a circle, right?
I mean, that's what it sounds like
to me.
That's correct.
That's correct.
So we try and provide
that confidence
in the matchmaking
that there's been
that common criteria
have been met.
We feel like ESG and SDG
are different acronyms.
One, by the way,
for record is
Environmental Social Governance.
The other is
Sustainable Development Goals,
set of goals
created 20 years ago
by the United Nations
to really address
some of the most
kind of urgent problems
and needs in the world.
And we feel that
they're very similar
and that there's
sort of,
for want of a better word,
an equation
or an algorithm
that we can build there.
So that's the matchmaking side.
And then we feel
we need to take them
on the journey
and a really kind of
clean journey,
I think,
for people,
for want of a better,
or smooth journey,
for people who have
perhaps never
really engaged
with this kind of
CSR,
with this kind of
support-giving program,
either through
matchfunding
or through grantmaking.
And then,
as you say,
right through
to the final part,
which is
the satisfying
their data needs
and ensuring
that the projects
are well-documented
and transparent.
Great.
Fantastic.
Matt,
feel free
to take the next question.
Well,
I mean,
I guess
that kind of
leads to another question,
too,
what both Nico
and Alex
are talking about.
And I guess
the question
I have always
you know,
you can create
the technology,
the technology works,
you can create
the algorithms,
et cetera,
but a lot
of this stuff
seems to be
so dependent
on boots
on the ground,
right,
on the retail
experience
that signs,
that gets the,
you know,
the evidence
that you need,
Nico,
or the NGOs
to really monitor
if those trees
had been planted,
Alex.
And just,
I'm curious
as to how much
of that
is part of
what you both do,
that,
you know,
the retail
nature
of getting
people to buy
in and then
executing.
Matt,
you told
almost what
I was going
to say
because it
was a very
good example
and this
happened to us,
it's,
we had
an NGO
that
make a
crowdfunding,
a donor,
eight,
and wanted
to plant
trees.
And he
told us,
how can I
show that
I am planting
these trees
because if not,
I can only
show,
or I can show
that it's
very important
because it's
the first
that people
see on,
I get
one million
dollars
and I spend
nine hundred
million dollars
in something.
And we said,
yes,
you can
trace
and you can
create NFTs
for each one
of the trees
and you
can trace
them,
you know
where you
put the
trees,
where you
planted,
and you
can follow
on the
trees.
Are they
good?
You make
one visit
once per
year and
you know
that the
trees are
there and
you can
show it
to your
donors.
So when
you are
speaking
and also
Casdillo,
we can
be the
last mile
of that.
For example,
I don't
know,
it's
something
ONU,
like plant
trees and
we can
be the
platform
when they
administrate,
manage
the trees
and everything.
So that's
a step
further
transparency.
It's
showing
where
did you
spend
money.
about
were
asking
asking
also,
well,
I can
give a
little
speech
Casdillo
also,
you can
interrupt
But I
think
that
go ahead,
go ahead,
Nick,
finish,
please.
traction
this is
yes,
you,
we started
as a B2C
company,
a startup.
We wanted
that each
producers
Origino
and create
a big
ecosystem
of users
tracing
their
cows.
We started
like that.
It didn't
work because
traceability
and information
and everything
more
in the
brands
or companies
than what
that need
to show
some
because the
markets
are asking,
hey,
you have
to show
me if
this has
deforestation
or not,
or because
the consumers
are asking.
But the
first in
the traceability
steps in
the supply
chain,
any supply
chain are
not needing
nothing.
They are
alone and
only want
to earn
more money
because of
their cows,
for example.
So we
went to
the last
mile of
a value
chain and
there's
detraction
because they
are needing
So yes,
I share
that question
that detraction
is in
the ones
that are
needing
to show
or to
be more
transparent,
more trustfully,
sell
reliable
products.
That's
the very
good,
the very
needed
information
to do
now.
Got it.
Great.
Thanks,
Nico.
Yeah,
I'm here.
guys.
I think
one part
there is
to use
data and
data
reporting
incentivize
users,
i.e.
those that
are providing
the data
along that
supply chain
to make
it easier
for them
to report
that data
and by
incentivizing
them to
report,
basically
meaning that
they can get
more money
because this
is milestone
based.
there's an
upside to
being more
granular in
their reporting
and there's
the potential
for getting
additional
funding or
next disbursements
along the
funding chain
and therefore
by providing
accurate and
more data
than they
would maybe
provide if
they get a
lump sum up
front,
that way you
can also
incentivize
people to
join your
platform and
get some
traction.
got it,
great,
great,
thanks Gabriel.
Yeah,
it's an
interesting,
it's an
interesting
question,
I mean,
I just,
if I go,
if I understood
your question
right,
Matt,
it was about
how do we
to some
extent bring
an industry
that perhaps
might have
elements of
being broken
but that is
a very large
sector or
industry
nonetheless,
how do we,
you know,
bring some
element of
mass adoption
to blockchain
and how do
you know,
make the
right kind
of penetration
into that
sector.
I think one
thing that
we've been
looking at
is trying
to talk to
some of
the large
existing
players in
that field
and just
sound them
out and
understand,
well,
where are
you on
this
blockchain
issue and
situation?
And a
lot of
them are
saying,
well,
actually,
we're doing
a feasibility
study on it
because we
know it's
the right
thing for
but we
don't fully
understand how
to use it
or we're
not sure
how to make
the transition
or we're
a really
big organization
and we're
just naturally
slightly resistant
to change
because we
have this
huge mechanism
to move
through,
to bring
through change
when we're
doing it.
And so we've
had a lot
of really
fruitful
conversations
with one
UN agency,
with a
very,
very large
NGO that
does grants
in the
hundreds of
millions to
Africa that
are naturally
looking at
the kind of
solutions that
we are trying
to integrate
into our
platform.
Those
relationships
take a
time to
build,
especially
when bringing
a new
product.
And I think
part of it
is just to
try and
take some
of the
pain out
of the
novelty of
A lot of
people just
make it look
as web 2
as possible,
make it do
a lot of
web 3
stuff,
but make it
really user
friendly and
easy and
not make it
painful for
people who are
used to doing
things differently
but who might
be willing to
accept that
your way of
doing things
could be
better.
right,
right,
right,
exactly.
I would
probably also
add on to
that it
depends on
the market
where you
operate.
In Africa,
we realized
that the
offline part
is increasingly
getting smaller
and especially
crypto adoption
is increasing.
So we are
just now
actually doing
this boots
underground
hustle in
Kenya,
which is
our launch
market and
we reached
out to 15
NGOs via
a local
partner there
to onboard
them for our
pilot program
and 14
have replied
and are
interested in
joining us.
We have done
feasibility studies
with focus
groups of
NGOs,
how willing
they are to
receive funding
and open new
funding channels
and using
blockchain and
crypto as a
medium and
the response
has been
100% out
of all the
NGOs are
So I think
it's also the
market maybe
where you
operate and
choosing a
market that
is maybe
more open
at this
stage than
a lot of
other markets
to crypto
and blockchain
as a whole.
Fantastic,
Gabriel.
And if I
may, I
actually want
to ask a
follow-up on
something you
mentioned in
your previous
answer.
I think it's
actually a
follow-up that
also applies to
Nico, but I'll
start with you.
So you
emphasize the
importance of
data and data
reporting for
the transparency
of the business,
right?
And this is
exactly what
blockchain and
Augurine are
here for.
So I'm
actually very
curious to see
how are you
going to use
Augurine in
terms of
wallets and
transactional data.
So for
example, what
does one new
account or one
new wallet mean
for you?
Is it one
NGO or one
account or
what?
And also
going the
same line,
what does
one on-chain
transaction mean
for you?
Is it one
NGO remittance
or is it
also just
updating the
status of
one specific
account?
I'm just
curious of
what the
actual usage
of the
protocol is
going to
And maybe
Gabriel, I
can start
with you and
then I'll
send the
question to
Nico as
well.
Sorry.
Yes,
absolutely.
So we
use Augurine
for two
things really.
One is
obviously our
campaigns are
smart contract
regulated.
So as you
create a
campaign as
an NGO,
you supply all
your information,
that is campaign
data.
But then you
sign this
campaign onto
the blockchain
and ultimately
the funding
amount and
the milestones
that you have
designated for
your disbursement,
those are
fixed on
the smart
contract,
right?
So then
hopefully you're
raising your
campaign.
And then
obviously also
the cash
out,
the funder,
the donors
commit funds
to that
smart contract
with their
wallet.
And then the
cash out along
those milestones
also happens
with the
several wallets
from the
donor side and
the one
wallet from
the receiving
side.
And it's all
regulated by the
smart contract.
So that's
at the
moment how
we are
regulating
the relationship
between donor
and recipient
through these
campaigns or
through the
grant that
has been
created by
the donor
side.
And then the
application process
is reversed.
The applicants
can apply,
the donor
puts 100,000
USDC or
100,000
ARGO on
chain,
and then
ultimately 10
applicants are
granted this
grant and
then each one
of them gets
their disbursement.
So this is
all signed,
each transaction
is signed by
the respective
wallets.
So obviously
that's all
on chain and
there's visibility
who's gotten
what and
where has
money gone,
right?
So that's
really the
first thing
where we're
really trying
to create
transparency as
Matt has
rightly pointed
out.
And then
in the
future we
hope to
build that
out and
ultimately
within a
campaign then
there's
obviously
project
reporting,
that's sort
of the
micro level
of it.
There is
fund
reporting,
where have
I spent
money to
avoid
corruption,
for example,
what Matt
pointed out,
and also
accountability
of funds.
And then
those kind
of reporting
layers can
also trickle
down to
further
disbursements
of funds.
So we
haven't built
that layer
out yet,
that's really
the layer
of the
product that
we are now
planning for
2023,
which is
the micro
post-raise
for the
campaign,
how can
the recipient
continue building
this trust
and report
and this
reporting is
immutable,
how can we
incentivize them
to provide
good data
who will
receive more
funding?
And this
is a really
interesting thing
to pick up
on just
briefly,
because I
think there's
often
qualitative
data frameworks
that frame
things in a
very complex
way to
the point
where people
who look at
that data
say,
I'm not
sure what
I'm supposed
to be
seeing.
So actually,
just having
consistent
quantitative
data on
projects,
how many
applicants
have there
been,
how much
money has
been spent
in which
geographic
territories,
very simple
data points,
accrued and
amalgamated and
presented in a
way that can
be broadly
digested by
the stakeholders
who are involved
in spending and
giving that money
is a really
simple but
important function
to have.
And I think
it feeds back
into what
Nick was
saying before
about
information and
transparency.
So that's the
first layer
that we're
really looking
to tackle
is financial
data.
And then,
of course,
as Gabriel
mentioned,
there's project
data,
physical data,
leading into
all kinds of
qualitative data.
But I think
before we start
wanting to
have, you
know, I
often see
companies that
talk about
how much,
you know,
how many
CO2 emissions
they've reduced
and it's just,
let's face it,
absolutely ridiculous
sometimes because
the methodology
they're using
to assess that
is relying on
all kinds of
extrapolations
from very
limited data.
And I think
it's better to
say, look,
we're certain
about this data.
These are things
that we can
say based
on this
data as
opposed to
wanting to
create more
confusion with
data points
that are
relevant.
I just wanted
to add that
to the work
that we'll be
doing this
year.
Fantastic.
Nico?
Yes, yes.
I was just
remembering an
article that I
read a few
months ago
and was
2023 will
be the
traceability
washing year
or the
transparency
washing year.
You know,
they were
talking about
CO2 and
emissions and
that's a lot of
greenwashing
happening today.
It's what we
have to do.
I am biologist,
so I love that,
but we see
also there's a
lot of
misinformation or
bad information
or directly
greenwashing.
And about
the transparency
washing,
that's where
we have to
focus and
to bring
the opportunities
or the
platforms that
allow to
open that
data to
make it
for a
public,
obviously,
decentralized
better.
And that's
where we have
to work a
lot with the
companies and
NGOs and
whatever that
really want to
be transparent.
And there's
a lot because
they know
what's happening.
So the
people that
is doing
things right,
they need
someone that
helps them
with this.
We, in our
case, we are
helping to
show the
transparency in
the production
supply chain.
So you
are asking
for data,
for information,
how do we
manage?
We started
with a
hyperletcher
VESU in
2019, the
year that
Algorand went
live, I
think.
So we
have not
had some
technologies that
could work
with.
So we
started
hyperletcher
VESU,
private,
permission,
blockchain.
It was
awesome because
we could do
a lot of
NFTs, a
lot of
transactions
with zero
cost,
carbon
neutral,
because it
was hyperletcher
VESU,
but private.
And how
can we
show our
NFTs to
an insurance
company, to
a money
lender and
say, hey, I
have these
NFTs with
this value and
you can lend
money to our
user.
If I am
working in a
private
blockchain, if I
disappear,
everything
disappears.
It was not
the game.
So that's
why we
started working
with Algorand.
We needed
a public
blockchain that
was not
high cost
because we,
for example,
we started in
Argentina, we
have 54
million cows.
If we
tokenize each
cow, we
are speaking
about 54
million NFTs,
a lot of
money if
one NFT
costs $2,
$10,
whatever.
But most
important was
a carbon
negative
blockchain
because everyone
that we
speak says,
okay, I
will plant
a tree for
having less
emissions, but
if I use
blockchain and
I create an
NFT to
have the
information and
traceability and
transparency, I
am spending a
lot of energy, so
I will have to
plant two trees
more and it's
a cycle.
And we say, no,
no, no, we
are working with
Algorand, it's
carbon negative, so
you don't have to
worry about that.
And this is a
true story.
It happens a
lot.
with big
companies.
So, and it
was needed to
be fast, to
be secure, of
course, and
that's what we
found in
Algorand.
What we do is
create NFTs,
digital twin, a
lot of
information is
metadata.
That's, we
have to know
that.
We work in
AWS, in
Amazon, a
lot of
information does
not go on
chain because
if not, you're
making a lot,
the events of
it's 54 million
cows in
Argentina that
each one week
have a lot of
events, you're
creating a lot of
transactions and
it's not a
cost working.
So we have
metadata, it's
like a
script of banks or
whatever at the
beginning.
The future, and
that's what I also
wanted to show
with, I think we
think the same
with cashdillo and
a lot of
startups, timing,
you have to
think what you
can do today
because for
example, we
have custodial
wallets.
Why do we
have custodial
wallets?
I am a
crypto, like
cypherpunk in
2012.
I want a
decentralized
identity and I
want only
non-custodial
wallets.
Okay, but
that's what I
want because I
know that it's
the future, but
nowadays
enterprises,
normal
producers, I
don't know, a
producer in
Africa, they
don't understand
blockchain and
they don't
understand their
wallets nowadays
because it's
new.
It's like all
new.
So we started
with custodial
wallets.
You work in
a platform like
you are working
in a management
platform.
And that's very
important because
we are working
in adoption.
You have to
work in
adoption.
In five
years, there
will be the
NFTs in
non-custodial
wallets.
For example,
in Pera
Wallet, you
can transfer
directly the
NFTs and
without the
platform and
do everything.
You can work
with escrow to
put your
NFTs in an
escrow and ask
for money, ask
collateral.
That's beautiful.
But you have to
have the time for
do each one of
the things that
you're dreaming.
And so I have
told you a little
about the future,
but present is
very important
useability.
Fantastic.
Thank you very
much.
Just as a quick
reminder to
everybody, we'll
soon start taking
questions from the
community.
So if you have
any questions for
either a cache
dealer or a
Hino, just hit
the mic request
button and then
it's going to be a
pleasure to bring you
to the speaker
board so you can
ask them directly.
Matt, I'll send
it back to you for
maybe one final
question and then
we're going to
take a question for
Marlon from the
community.
I mean, no
questions, I guess.
I think what Alex
said in terms of
the qualitative
nature of the
data is really
interesting and
important because
what both you're
doing is, you
know, what you
want to do are
to prove these
real world use
cases and our
job is to
shout these from
the rooftops
because this is
effective and it
works and it
makes things
better, right?
Transparency and
the granularity of
the data that
Nico talked about
proving providence
and giving
confidence to
consumers, etc.
And Castillo's
matchmaking and
then transparency
and traceability
and irrefutable
proof of execution
are all really,
really important
to show people
that this is,
in fact, better
than what had
come before.
And I think
that's our
collective job,
you know, within
the Algorand
community and the
larger industry
itself to really
show these.
So I think,
anyway, the
qualitative nature
of that that
Alex mentioned
is really crucial.
So I'll stop
there and let
these guys take
questions from
the community.
Fantastic.
Thank you, Matt.
Marlon, please
ask your question
to either
Castillo or
Nico
from Orihino.
Hey, Marlon,
you are still
muted.
You need to
unmute yourself
to ask the
question.
Hello, everyone.
I don't have
any questions.
I just want
to listen to
the latest
about Algorand.
Fantastic.
Thank you very
much.
Thank you for
joining.
I appreciate it.
So, well,
Nico and Alex,
then I have
another question
for you.
I mean, I have
many questions.
So just quickly,
what is your
geographic focus,
at least, you
know, right now
for the next few
months in 2023?
And maybe we
can start
with Castillo.
Yeah, sure.
So we're very
much focused on
East and
Southern Africa.
That's partly
because of our
own experience as
founders, having
worked there a lot
in sort of
previous guises,
but also because
of the partnerships,
therefore, that we've
been able to
develop in market
with existing
Web2 crowdfunding
companies.
As I mentioned,
we have another
partnership coming
with a very
large global
agency.
And so our
focus is really
to develop those
into a pilot in
one specific
region.
We actually
have launched
a Twitter space
of our own.
On Castillo
every two weeks,
we'll be looking
at various aspects
of social impact
on Web3.
And Fred,
Matt,
Nick will take
this opportunity
to invite you
over there
for a chat
one day.
And our
primary goal
really is to
refine our
product that we
have.
And as Gabriel
mentioned, to
kind of build
that overlaying
layer of
quantitative data
that we can
then use to
have our
complete product
and, as we
mentioned, go to
market in Q3.
But yeah, in
terms of territory,
very much a
focus on
East and
Southern Africa
initially.
And of course,
the USA and
Europe is for
donors and
for clients.
Well, that
I jump to
answer.
It's almost
it happens
the same
because we
want to work
global.
We think in a
decentralized, so
we don't care
maybe from
where does
money comes or
whatever.
But when you
have to focus,
of course, we
were born in
Argentina, so
our customers
will be in
LATAM, in
Latin America.
In fact, it's
Central and
Latin America,
so Sudamerica.
and, for
example, we're
working south in
Argentina with
cows.
We now
are now
working with
pigs, with
trees.
We're opening
in Panama, also
a supply chain
of bovine in
supply chain in
Panama.
We are working
in Colombia,
Ecuador.
So our main
revenues will
come from
customers from
that place, but
that doesn't
mean where
your folk will
be going,
because we
work in
LATAM as a
big, very
big market
because Latin
America is
one of the
most producers
of soft
commodities.
Beef, soy
or grains,
and a lot of
minerals, a lot
of soft
commodities are
produced in
these countries.
That doesn't
mean that the
beef that
someone produces
in Brazil goes
to Europe or
to the United
States, and
the consumers
are the
ones that
read the
So that's
the circle
that we do
because these
consumers can
write the
product that
you sold,
you read the
QR, read
all information,
videos, whatever,
and you can
write the
product that
you are eating
or using,
for example,
transability of
cars, supply
chain of
cars.
So that's
also very
important to
the companies
that use
Origino to
get feedback
also from
the consumers
wherever they
are in the
globe.
Fantastic.
Thank you
very much for
that.
I truly
appreciate both
your answer
and Alex's.
But Nico,
you mentioned
almost every
country that
you are opening
offices or
operations of
a town, with
the exception
of Brazil.
You know
that I'm
Brazilian, so
it's going to
be a pleasure
to help you
penetrate this
market whenever
you can.
You have my
contact, just
hit me up.
It'll be a
pleasure to
help.
Brazil is too
big.
You have
to have a
very good
product to
go to
Brazil because
you are, I
will add
something what
you said,
Fred, Brazil
is the main
market in
America for
us because you
have 250
million cows.
You are five
times the
cows of
Argentina.
You produce
a lot of
grains.
So yes, it's
a very big
market and
nice market.
And hopefully
in 2000 or
maybe this
year at the
end or the
next one, we
will be having
conversations about
Brazil.
Fantastic.
Well, unfortunately,
we're almost at
the top of the
hour, which
means we're
coming to the
end of our
Twitter spaces.
But I want to
start with Matt.
If Matt has
any parting
questions to
the team or
at least any
parting words
to share, and
then I'll pass
the same to
Cash Dillow
and Nico
before we wrap
up today.
No, thank
you both.
I thought it
was really
interesting, and
what you're
doing is
fantastic.
The transparency
and traceability
are things
that we see
all the time
come to us
at Algorand.
So the fact
that you guys
are out there
doing it and
proving it in
the real world
is absolutely
crucial to
the success
of not just
Algorand, but
the industry in
general.
And again, the
more that we
can prove that,
the more stories
we can tell,
the better.
And Alex,
you're in East
Africa.
We're trying to
put together an
impact summit
there in the
spring.
So we'd
love to catch
up, at
least in
person at
that time,
and really
showcase what
is being done
in terms of
impact on the
Algorand
blockchain, how
that's affecting
people's lives,
how it's better
than what's
come before.
And so we're
going to look to
do that throughout
the year, but
beginning in
probably in
Nairobi.
So thank you
both very
much.
Thank you, Matt.
Well, obviously
we'd be delighted
to partake in
any conversations
that are coming
and exciting that
they'll have an
East Africa focus.
Just wanted to
take this
opportunity again
to thank you
both for
inviting us
onto the
space, the
Algorand
Foundation for
having supported
us up until
this point,
initially with
the grant,
and we're
now part of
the Algorand
Accelerator and
incredible community
support is
really what helps
us to carry
on working
towards the
goals that
we're looking
to achieve.
So thank
you, everyone.
Great.
And my
turn.
I like to
finish with
the enthusiasm
that working
in a blockchain,
working in
trying to
build a
new world
creates in
me and
in the
Origino's
team.
We are all
virtual teams,
so we work
like very
in the
future of
work.
But it's
very nice
to see
the projects,
the startups,
and the
platforms that
are being
created.
Yes, it's
step by step.
We have to
start working
and this
will be
bigger,
but for
example,
in Origino,
it's our
purpose.
what we
want to
do is
create a
world with
all assets
tokenized so
you can
know from
where it
comes,
everything that
you're using.
You maybe
want to see
it once in
your life,
but it's
important to
know that it
exists and
that brands
are working
hard to
show that.
We also
want to
create the
financial
inclusion of
producers that
nowadays they
produce and
they earn
nothing.
They earn
very little
of the
money,
of the
value of
the asset
that ends
in a
consumer.
So when
someone can
read the
QR in a
product,
can give
rewards to
that producer,
send tips,
everything on
chain, of
course, and
that's why we
choose Algorand,
because it's
very cheap
to send
the tips.
And that's
what we
really want
to build.
It's a
world with
all actors
included,
aggregated in
places when
you can see
who is
behind,
what you
are using,
wearing,
eating,
and whatever.
And I
think that's
very nice
to work
in and
we're very
enthusiastic
about the
future and
the possibilities
that blockchain
gives us.
Fantastic.
Thank you
very much,
Nico.
I truly
appreciate it.
Well,
Algorand fam,
I want to
start by
thanking first
Matt,
Alex,
Gabriel,
and Nico
for the
time.
I truly
loved the
past hour
that we had
this conversation.
It was
amazing to
learn everything
that you're
building.
So thank
you very
much for
our time,
for being
here today,
for sharing
all these
amazing things
with the
Algorand
family.
I also
want to
thank the
Algorand
Accelerator,
our startup
accelerator based
out of
Europe.
Thank you
so much
for first
hosting these
two and
another eight
amazing
startups that
are going
to be shaping
the future
of our
blockchain and
also for
helping us
organize these
Twitter spaces.
So thank you
very much.
And of course,
as always,
I want to
thank the
Algor fam for
either joining
us live right
now or
everybody that's
catching the
recording later
over the next
month.
Thank you very
much for your
time.
It's always a
pleasure to be
able to bring
you a little
bit of all
these amazing
projects that
are building
crazy,
amazing solutions
on the
Algorand
blockchain.
So thank
you very
much.
And I
just want to
visitation for
the entire
Algor fam.
Make sure
to follow
Matt here
on Twitter,
follow the
CashDeal team,
follow Orogino,
and follow
Algorand
Accelerate so
you can stay
in the loop
of all the
news and
everything as
they announce.
Okay?
Once again,
thank you very
much,
everyone.
It was a
pleasure and
I'm already
looking forward
to the next
conversation.
I hope
everybody has
a great day.
Cheers.
