Good morning, good afternoon, good evening, wherever you are. My new, I appreciate you joining us and catch up as speaker. Can you hear me fine?
Hey, Kyle. Yeah, I can hear you just fine. Hey, everybody. All right. And I see Yann's joined as well. So let me go ahead and invite you to speak, Yann. Yes, so we're going to talk this morning about KYT and go over all the information we got.
I know my news joining us, you're actually on your now speaker and do just quick introductions. Yann's the CTO at the finity. My new is the director of engineering works very, very heavily on CKB.
And before I jump too far into it, I do want to invite everyone as you're listening. If you have any questions, just go ahead and drop them in the thread for the space. And we'll go ahead and get to those at the end of the Twitter space. Y'all, can you hear us good?
Yes, very well. Sorry about the fingers. I'm not hitting that bottom very well. I hear you very well. I'm happy to join and they're looking forward to the discussion today. Awesome. I really appreciate, appreciate joining as well. Let's go. Let's just start up at the very top of it and give a little bit
background of why KY why we're even talking KYT what's the what's the kind of backstory of why we're interested in Tainted Bitcoin what is KYT and what what risk would we have without KYT? Yeah sure so
Right, since you're all here, you probably know that there's some Bitcoin, not every Bitcoin is equal, but the end of the day doesn't really matter whether it's Bitcoin or Ether or any other ERC20 token.
Unfortunately in the world there's not all people are equal, I think that's clear. Some people like MISUS, RABUS, cryptocurrencies also for illegal activities. As crypto currencies are different from
normal money actually a lot of these things can actually be traced on Jane I think that's what happened and like it's police came in until you get this company's like chain analysis and others that actually are trying to help the police in investigating some of these crimes you know extortion what are
And as a result of that of course it means that they are now in most of the places on the world probably where they would block down Bitcoin that comes from illegal activities and then prevent
And people that maybe got Bitcoin illegally, that they can all understand it. So that's why KUIT originated. And if you're a normal business, then accept Bitcoin, you actually do must not accept such Bitcoin because then you would
become a party of these little things in many cases, again depending on the country, but pretty much the whole western countries have that problem. And now if you do something like on chain like CKBTC, if you now transact on the chain, the problem is of course that then
you would send Bitcoin to the CKBTC canister and then that Bitcoin and then the CKBTC canister of course just receive a Bitcoin and then transact those Bitcoin on the engine computer very fast but also it means that these transactions are actually
then mix all together. Of course it's transparent because you can, you know, the CKBTC canister has a URL as well, where you can look at it in all of this Bitcoin. But the risk here is that if then you want to receive some CKBTC, send that back to the Bitcoin network and then
what I do with the exchange. Then actually your bitcoin might be flagged as an illegal bitcoin because if some criminal may be sent some bitcoin into the CKBTC and then when you get CKBTC out into bitcoin you might end up with one of those transactions because