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Hedera Highlights: A Look at the Successes of 2024
Recorded: Dec. 17, 2024 Duration: 1:03:03Space Recording
Full Transcription
All right, GM, GM, welcome everybody to another wonderful space.
I'm going to give it a couple minutes to get all of our speakers up here on stage and our other co-hosts, and then we are going to get started.
Hello, Ed. Hi, Ty. I have not seen you guys in so long. I hope you guys have been doing well. How's everyone doing today?
Doing great. I could not hear you until you pulled me up on stage, and then you were mid-sentence, so I don't know if that's a thing, but it's a good day.
It is a good day indeed. It could be my signal, but let's see if we can hear action.
Yeah, you can hear action.
Yep, there we go. That is exactly what I wanted.
All right, just a couple more questions. I think we're going to get Elaine up here as well.
Perfect. Action. I don't know if you want to play 30 seconds of a song.
30 seconds of a song? I'm going to click random on my like songs and see what comes up. Please. I hope you guys laugh at this.
Oh, genius. Genius.
Genius.
Sweet dreams are made of this. Who am I to disagree? I travel the world and the seven seas. Everybody is looking for something. Some of them want to use you. Some of them want to get used by you.
Some of them want to abuse you. Some of them want to be abused.
And if you're just joining us, make sure you click that bottom right hand corner where you see a little bubble. Go ahead and give this space a like and share it out with other people so we can get talking about what's happening over there. It's going to be a good one.
Sweet dreams are made of this. Who am I to disagree? I travel the world and the seven seas. Everybody is looking for something.
Sweet dreams are made of myself.
Sweet dreams.
Sweet dreams are made of this.
Same.
See you in Jason.
Long live,
explain your experience that Ray had a great thirst.
all right while aaron is laughing at the fact that um i randomly play sweet dreams
um this is actually a really popular song guys come on think about uh what was it x-men
it was a quicksilver you know montage of him saving everybody from the mansion
this is just my kids that make me watch that scene over and over again it must be it must be
um how you guys doing today ed good to see you ty great seeing you here devin
hey erin hello everyone very good to be here um you know very excited to to share the stage with
this amazing group of uh co-speakers
it is always fun when i get to have these spaces um not gonna lie a little little sad that it doesn't
happen every week it's every other week but that's okay you know um i'll i'll live i'll survive um
should have played that no let's not go there um let's talk about what's going on in today's
spaces guys super excited to have such legends in the hedera space hanging out with us uh let's go
around let's just do some intro so that people know who's talking and what they do and how they're
connected to hedera we'll kick it off with you ed sounds great thanks action ed marcus here i lead
developer relations for hedera at hashgraph um you know hashgraph is that firm doing all the marketing
and engineering initiatives for the hedera network and i've been with the ecosystem for about four
years now and yeah my focus on the developer relations area is to attract developers engage
them and educate them and work with our team to lower as many frictions as we can to make sure that
they have um a productive journey in their building and deployment and hopefully adding and creating
value for for those end users that are are building awesome applications and multiple verticals whether
it's d5 whether it's nfts whether it's supply chain payments and a lot more so i'll pass it on to devon
uh i just want to say sweet dreams is a certified banger eurythmics shout them out uh also love that
montage in the x-men movie that's it that's a good reference to you uh i am devon i am the head of the
product marketing team also at hashgraph um work closely with ed we are uh pretty much every day um
yeah my main kind of lucky yeah i know i say the same thing actually it's kind of funny um my main
focus is uh yeah focusing on product launches on toolkit launches bringing everything to market
messaging around the products or on on the hedera website um being pretty ingrained into the ecosystems
do things like case studies or any other content of like promoting of what's being built on hedera
uh yeah been here for about two and a half years and it's been a blast i'm looking forward to speaking
today i'm gonna go ahead and pass this to ty hey yo um yeah it's great uh we're in half of december
at this point um been a pretty jammed pack year of developments and um yeah what i do at hashgraph
i also work at hashgraph i'm the senior product manager uh focused on tokenization um so rwas and
you know our hts our evm tokenization um i work on the consensus layer so hcs their consensus service
which is a service you can put data onto hedera really cheaply and quickly for essentially fair
ordering sequence of data and then um also work on mirror nodes and and some ai strategy so uh kind of
the gambit uh really enjoy uh the last year of working officially for hashgraph and been in the
ecosystem for about four years um building just products companies uh interacting with the community
and now uh yeah i find my home at hashgraph that's pretty slick sliding gamut in there
richard let me go to you next sure hey i'm richard um i lead the engineering at hashgraph
and uh um i said i've been here for i don't know almost four years now i think and um uh i do i do write
code um not as often as i used to as often as i can manage it but uh um i built the the virtual map
um with jasper and the in the database that allowed us to do the smart contract system and a bunch of other
things um modularity a lot of things so i've kind of got my hands deep into the details um anyway excited
to be here i love it um let me just kick it off with just a quick question richard do you miss the
being in the in the you know trenches coding day in day out yeah totally i mean it's a mixed bag right
if you are writing code um it's fun and um i feel like i'm pretty good at it so i enjoy that but
the uh you also have just a limited area that you can impact whereas when you work at the architecture
level you have an impact across many things and somebody has to do that role so um so i think that's
good too it's it's fun to be engaged with the other members um who are looking at all the different
hips and working out all the design and all that kind of stuff but um it's nice to just have a quiet
rainy day when you can just sit at your computer and write code
i have so many questions for you richard right there's someone i know yeah someone that is like
very interested in in learning about your past uh definitely gonna field you a ton of questions
um but also nice to meet you so much i think we're just waiting on one more person but i think we're
gonna go ahead actually everybody's up here on stage let's get started with some questions
i want to kind of dive right into a section we're going to talk about like new integrations
in the space we've seen quite a number of new integrations updates and collaborations
this year so let's dive into a few of those one of my favorite and personal favorite being
chain link i know we've touched on chain link before but i want to ask elaine and ed kind of as a
first step in the new collaboration chain link data feeds are now live and if you guys are just now
tuning into the space that is right the data feeds are now live on hedera mainnet how does this
support hedera's developers in building dApps
and that can be either elaine first or ed yeah i'm happy to start can you hear me twice
i only hear you once but i don't see elaine as a speaker
all right so i think i only hear me once i was hearing myself twice before which was uh
discombobulating so i i can start and then i would love to open it up to elaine as well for
additional thoughts but before i even get to oracles i really want to reflect on this year
as a year of great progress in a few areas one is reducing a lot of frictions for evm developers in
the work that you know my team has done with many other teams like the product team and
and other great folks at hashgraph but i think we also made really great progress
on infrastructure integration so you know i think i want to recognize the work of the foundation the
work that elaine has done there because this was the year that we brought oracles to hedera right i
think we're super excited to announce chain link going on mainnet yesterday with the data feeds and
also proof of reserve and then earlier in the year we also enabled devs with supra and pith
integrations as well so it's great that to have this variety of options right because these
providers in combination they just provide the flexibility and the choice for devs
whether they want to work with a push model or a pull model the options are there on hedera
to build those defy applications maybe those insurance applications perhaps applications on trapfi you
know to exchange maybe commodities based on um price feeds for for those commodities and and then bring
that logic into into the contracts and applications that they develop so i'm super excited to see this
chain link integration live on mainnet and you know we'll be working to provide more examples on how
people can uh build with chain link in fact i tried it myself and it's happy to report that it works
perfectly and it's super easy to use um so yeah now i'll pass it over to elaine and see if she has
any additional thoughts thanks ed can you guys hear me okay loud and clear awesome um yeah we're really
excited about chain link too i think it might be one of my uh favorite integrations and partnerships
this year um obviously it's something that we had been looking forward to for quite a long time
um it's been a really kind of fun um albeit long uh working relationship with the chain link team
to get us to where we are today i think the actual kind of active conversations and getting data feeds
and um proof of reserves and getting ccip as part of the roadmap um has taken us quite a while
uh but we're really excited to kind of see uh data feeds on mainnet now
um like i've said right we really think that this year we've made a lot of progress on bringing in
more infrastructure to support the development on the network whether it's for your individual developer
or applications like the dexes or lending and borrowing will really benefit from having these
oracle services um you know i think what ed alluded to is really the fact that some of these
infrastructure providers are almost sequential um or you know they need to build on top of one
another right so you know there's a reason why we have multiple oracle providers there's a reason
why we've been putting a lot more effort into our custodians as you know all of these things need to
you know build on top of each other so that the developers actually have what they um what they
need so i really think this year we've made a lot of progress on that front on the infrastructure side
um and we're really looking forward to seeing more developers um and projects use the chain link
services um i know we announced that mainnet for data feeds um is active as of a couple days ago but
we're really excited to start the development work with the chain link team on ccip which is coming
soon um and you know kind of all of the other tokenization opportunities that come from that as
well
amazing and i think elaine this is our first time connecting and i know you guys have been doing a
lot with hbr foundation you guys also joined the scale program was that last month if i'm correct
um i think so time flies we announced it uh in addition with um the testament deployment so i think
it might have been um might have been last month but you know chain link like ourselves um or the
hedera ecosystem they are in the process of furthering their decentralization so the scale program has two
benefits um and you should definitely read what the chain link team kind of puts out themselves with
regard to the scale program but you know the two kind of high level takeaways with regard to that
program are first it's a way for them to scale no pun intended um kind of their business operations
and how they integrate uh new chains and new ecosystems so part of it is definitely um like a business model
um and kind of like a like an operational um program for them the second is that it does further their
decentralization right the more kind of i don't think outsource is the the right way to describe it
but the more partners they can leverage to adopt the chain link technology stack the better both from a growth
perspective but also from a decentralization perspective so that really is kind of the scale
program it you know at a high level is a way to describe um the group of ecosystems that are part of
the chain link or that leverage the chain link tech stack um from our perspective it was a really easy
decision for us to join the scale program because it gives us access to not only the tech stack that
chain link labs provide but also the really great developer ecosystem that has existed for years um
you know for teams and and individuals who are building on top of chain link right i think one of the
the best things about the chain link ecosystem is their strength in development both on education and
developer relations but they really do a great job of um kind of pushing use cases for their oracle
or um kind of like ccip technology so it really was an easy decision for us to join that
i think i'm looking for a couple of posts that i can pin up to the web actually i don't know if you
want to help me that way people kind of can follow along with the scale program i i know there's i swear
i saw something posted um kind of another integration or collab that you guys worked on was layer zero as
well um i know this was recently integrated how is that integration specifically going to help bring
institutions on chain and in to defy yeah we're really excited about um layer zero and let me back
up a little bit i i alluded to maybe some of the sequential things that the ecosystem needed in order
for some of these integrations to um to be viable you know for both chain link and layer zero right we really need
to get the defy ecosystem to a place where there was actual utility and activity that these
infrastructure providers could support so layer zero is one example of that um as you guys know or
or maybe don't uh layer zero is a um general message passing uh technology stack so you can do a lot with
that one of the things that you can do is build bridges right so you can swap assets or send messages
back and forth from one network to another um so kind of this base technology um really allows for
interoperability across ecosystems across different asset types um and that type of interoperability
is really important when you are looking at working with institutions that either have their existing
uh business model and who see different uh networks or dlts as um additional technical or technology
providers um they want to be able to ensure that they're not going to be stuck within a certain
walled garden or a certain ecosystem so the ability to have connectivity with other tech stack so to speak
is really important for institutions it has an additional importance when it comes to financial institutions
who are looking for interoperability at an asset level right they want their assets like usdc or tether
or whatever money market fund that they are tokenizing and needs to flow to wherever the client or the
customer or the liquidity provider is and so the interoperability provided by technology stacks like layer zero
are really important so you know with layer zero the endpoints are live as of i want to say august maybe
maybe september um but that's just the first start right the smart contracts those endpoints enable
applications like you know your taxes or your lending markets to integrate the swapping functionality
direct directly into their ui or it also allows for applications like stargate to connect to the hedera
network network as well stargate being a liquidity layer basically a bridge that operates on top of
layer zero and so we're really excited to see what will continue to be built on top of the layer zero tech
stack i imagine in the next couple of quarters hopefully uh the various cefi applications will either
leverage the layer zero um endpoints or and definitely integrate uh the stargate ui once that
uh hopefully once that passes and once that um is deployed
and speaking of another collab uh copper this is one that i'm very unfamiliar with and yeah super
interested in i kind of want to know what this integration looks like i think some other users
in the space would like to as well and how do you believe it's going to strengthen institutional
involvement in the hedera blockchain yeah copper is actually one of my favorite collabs or integrations
um okay this year yeah um copper is a very interesting company and platform um they are a custodian
so you know they onboard institutions who want to store or custody their assets right and so the um
um the amount of it's very much an institutional platform right like the amount of money the amount
of assets under management that is custody that copper is just kind of different magnitude than your
average retail user so you know you'll have companies um you know like hedge funds or asset managers on
board with with copper and that's how they manage their um custody of whatever asset right so we
approached copper and partnered with copper for at a baseline the custody functionality right we needed
institutions and we were getting interest from institutions who wanted to custody both hbar but
also hds assets so as of today you can if you're an institution and you hold you know let's say like a hundred
million um dollars worth of hbar or husdc you can actually custody that um at copper what's really
interesting about copper is that in addition to their custodial services they are one of the custodians
that really started pushing the envelope with regard to their product suite um pretty early on so in
addition to the custody functionality they have what's called clear loop which allows for
their clients to send funds still within the custodial environment to centralized exchange accounts
so this functionality allows for these massive market makers or hedge funds or trading firms to send
money to an exchange to either trade or to off-ramp or on-ramp but all within the custodial environment
so if you look at kind of what the custody or what the self-custody uh functionality exists today if
you're not using a platform like custody you're using like you know like a ledger and you're like
sending your transaction and it doesn't really have same level of um i would say like confidence and and
support as um maybe a custodian right just because you know the larger the fund movement you know the more
risky that is right and so copper did a lot both from a technical but also a business perspective
in terms of partnering with these exchanges and ensuring that these clients are you know being
able to send their money easily and quickly right and if you look at even the exchanges the amount of
money these um you know these market makers or institutions are sending is is insane right you
know it's like billions of dollars of volume um each day and so you really want to be able to ensure
that that money is safe when you're trading it so clearly it was something that we knew that we
wanted to um open up uh for institutions who wanted to you know either trade the asset or trade hbar
or or move husdc easily and and seamlessly they also have um and we're one of the first to really try
and kind of bring those institutional um protection into the defi ecosystem and so they have what's called
copper connect which effectively allows you to sign smart contract transactions from again within
the custodial environment so instead of say having you know a large asset manager move money into a hot
wallet and then you know have have to deal with all of the like spam attacks or phishing attacks that
um are prone to are that you know some hot wallets are prone to they're able to do it from within
their custodial account so that just adds another layer of protection so for institutions who want
to minimize smart contract risk as much as possible this is an additional benefit for them
um and so all these things like in combination allow for a lot more institutional capital to move
into the hedera defi ecosystem um it also allows for um kind of that liquidity to kind of flow a little
bit more seamlessly right through clear loop and through copper connect so overall it is something
that you know at a high level or kind of like the first blush definitely does benefit the institutional
user but at the end of the day will have meaningful impacts on creating a more healthy and robust
liquid environment for the average retail user man i love it i feel like we could we could do spaces like
all day you know like an eight hour thing just to cover everything that's been going on
um with uh hashgraph and hbar foundation everything that's going on with how they are it's incredible
uh richard i'd love to go to you real quick if you wouldn't mind um there's been a lot of stuff that's
been happening especially on the engineering side um a lot of developments i mean from modularization
um dynamic address books block streams there's just a ton that i wish we had time to talk about them all but
um if you were to highlight one or another what would be the most notable ones in your opinion
yeah it's a hard question there's there's i think the um for a lot of people it'll it'll be different
for where they are like we did uh metadata on nfts this year which while it wasn't a massive feature
it had a big impact there were a lot of people who were very excited about that um and then we had
other things like modularization which has a huge impact on the code base ton of work but isn't as
visible to the outside user uh the sort of things that followed are are tied to the work that we did
on modularization but it wasn't like obvious you know immediately what features we provided from it
that being said modularization is probably one of the ones that i'm i'm most proud of because um
in any code base there's always improvement that could be made you'll never find a developer
anywhere in the world who says my code is perfect and i can never make it better it's like oh no
there's always things that you can do to improve and that's a great thing um that's what enables us to
to have you know continuous improvements things get faster things get more stable things get more
feature rich constantly working on improving things i think everybody wants to see that it's always
good to see those sorts of improvements and the sort of thing that we did was actually tremendously
difficult um most people don't attempt this on a project where you have such a massive um
modification of the code base um you know in order to sort of modernize and to enable a lot of
additional functionality and um we that the team was able to do this and pull it off with zero disruption
on mainnet nobody was disrupted at all and that's that's actually a tremendous achievement it's sort
of the uh when you don't see anything happen that means that you've succeeded beyond you know expectations
and so that was uh i guess where modularization was uh and for those who don't code at the core
um the way that we we sort of reorganized the the basic logic behind all of our uh head air apis
in such a way that it is much easier to add and modify those apis over time um so it it was an
enabler to allow us to to make a lot of different modifications adding new features to the underlying
code base so that was a really important one um although it didn't add any sort of functional change
change that people could immediately see um the dynamic address book stuff is is critically important
it's you know a step along that way and decentralization um like there are certain
things that you have to have in place before you can get to community nodes and dynamic address books
are one of those essentially what it means is that um originally the way that it worked was that
we had a file that you had on each consensus node and it had what we call the address book or the
information on all the other nodes in the network what the public keys are their ip addresses uh that
kind of information and uh every computer in the network needed to have this so that when you start
up the network they know who to contact and and and how to talk to each other securely um but this
isn't really very useful when you start talking about community nodes because people need to be able to
add themselves to the network and become live in the network and change their ip address and change
their key and all this kind of stuff in a self-service fashion not the way that requires everybody to put
a file on their machine so you know along the path of getting to community nodes we had to do dynamic
address books and it was a big enough change to the code base that we needed to break it up over
several phases so the phase that we released this year is called phase two i mean we're very clever
right so dynamic address book phase two um and and that allows us to so so we added the uh
apis that allow us to add and remove and modify the entries of the address book uh but we still apply
those only at the upgrade boundary so every time we do an upgrade whatever is the latest that address book
becomes applicable on the network uh the next phase phase three which we're going to deliver next year
will allow those changes to become active um uh the very next day so we have a because of staking
rewards we update the address book uh that we use once per day and so um we'll have a fully dynamic
address book next year that allows us to to add remove and change nodes and have it take effects
uh within 24 hours um and all automated uh no manual intervention don't work from anybody so
that'll be really really uh important it's it's one of those critical things along the path
um so that one was a really important one as well i somebody actually asked me about that one and like
the best way i could explain it to them is that essentially what's happening here is that we're going
from your yellow pages to google maps like no longer are you bound by something that was printed a long
time ago we can actually actively manage your listening yes yeah exactly so that one was another
one of those that is really important for the network although it's not necessarily something that
you would look at and say well how does that impact my you know feature set for my dap well
doesn't really but it is an important part of the network you know fundamentally to get us to
it to uh further stages of our decentralization story so that one was really important to a lot of
work so talking about really cool things that have taken place i'm gonna actually pin this one up
because this is a way bigger deal than most people i think realize um you guys joined the linux foundation
decentralized trust like that's a really big deal in my book um i'm i'm a linux user obviously um most
people that are just the quote-unquote normies they don't they don't understand how big linux really
is and in the entire ecosystem that we live in day in day out most things are run on linux believe it or
not um you know they are contributed to you know their uh their hyro program what's the aim right now
what is it that you guys are looking to do with this partnership yeah i i agree with you uh you know this
this was a project we've been working on for a long time and it was awesome to be able to get
that across the finish line and actually start getting our code out there and start operating by
the way we had a um we we had our tsc which is the technical steering committee meetings this morning
they are public they're open the calendar can be found on the lfdt website uh to join those things
anybody can can come and join it we reviewed uh two and a half hips i guess we approved two hips and
we're reviewing a third one we had four on our list this morning so there's good stuff there um and we
have a number of people who are from the community who've started joining regularly and participating so
it's totally uh open and available for people to come to to kind of see what we're really doing i think
that there are a couple really key reasons like reasons why this is a big deal one reason that
a lot of people don't normally think about um is the fact that we handed the ownership of the code
to an independent well-known open source foundation and that's our commitment to doing this if you will
the right way in a true open source way and it's it's actually really important for um uh big companies
that want to contribute source code they are much more likely to contribute to a so if i back up you
know i spent a bunch of years at sun at oracle 16 years at oracle been in the big big tech and in big
tech you've got an open source program office and if you want to contribute any of your source code from
your company you have to go through this open source program office they're going to review who
you're contributing it to what is this project do we have a relationship with them do we you know is
there any reputational harm all this kind of stuff joining the linux foundation greases the path for
these sorts of contributions every single enterprise of the world has got a relationship with the linux
foundation at this point so it it really makes it easy for people to be able to contribute or to accept
code from that foundation as well there's a there's a level of trust there because it's an independent
third party who's only interested in operating open source code they don't care about you know they
don't benefit from the business side of it so it's you know no conflict of interest or anything else
makes it really easy for those enterprises to work with code or contribute to code that's part of
something like the linux foundation so that's one the second one is people who are doing a startup
if you're doing a startup you go to a vc and you say hey you know i want a million dollars to
work on my startup and they say okay great you know what what are your liabilities you know what
what code do you depend on things of this nature and if you are getting code from somebody who's
respected like the linux foundation it's a lot it's a lot easier conversation with those vcs than if you
have to uh go to them and say well there's just some random you know individual or company that i'm
going to begin that i'm going to be wholly relying on my business for success like i need to depend on
that code they're going to be like well you're just like you can have run polls and tokens you
can have run polls and code people who solely own the code can take a closed source um yes you could
fork it and then you can maintain it but i mean that's like a horrible pain you really want to be
part of some group that you know is going to have some momentum to continue on so that was another
reason that was really important that most people don't really think about but then there's a third
reason that's really important linux foundation and and lfdt has a huge mailing list and lots of access to
developers when we're looking in our space most of the developers in the world have not touched web3
yet and uh many of those that live in the linux foundation or are sympathetic to it or know what
it is so it it also pains the way for better uh developer outreach with a huge number of developers
so um there we have various projects that we're doing with the lfdt next week or next year such as
uh meetups and uh workshops online workshops things of that nature where we're going to be reaching out
to you know over 100 000 developers to give them an opportunity to come learn a little bit about what
we're doing so so there's a lot of benefits there uh plus the linux foundation lfdt they've been doing
professional open source for a long time they really know what they're doing and so there's a
lot of support from them um a lot of opportunity also to interact with other members of the linux
foundation and and uh you know other hyperledger projects and so forth so there's a there's a lot of
great things that are coming from that relationship with linux foundation i completely agree so i got one
little follow-up question because this is the first time like a public blockchain has donated its full
code base so like an independent foundation does that scare or excite you because open governance
can be a double-edged sword you know yeah no i think it's awesome i mean we sort of uh we we've been
working under a governance structure with the henera council for a long time now so we're used to having
lots of parties involved and um i think that uh it's a great thing um i would love to see more people
um commonly get familiar with our code base and the things that we're doing um and there's lots of
opportunities to contribute you know there's from from the documentation level to um uh sdks to the core
consensus code to the block nodes or fear nodes or other things that we're building the the the relays the
uis all this kind of stuff there's so many in other projects that um have things of significance that
they want to contribute wallets or whatever we would love to have them come join there's so much
opportunity for people to be able to pitch in and and really feel a sense of ownership of this thing
right our my view on this is that it's not a small group of developers who are working on this
thing that everybody's going to use what i want this to be is a large group you know the world's
network if you thought about it from like a philosophical perspective what what do we want
in a decentralized web3 world we want these networks to be the world's network it's not my network it's
not lemans it's not the councils this is the world's and we want the world to contribute to be part of this
and to build that sort of momentum and you're just not going to get there if you don't have
you know an open source project and if you don't have good open source governance then it's always
going to be like a small group we really want it to be open anybody to contribute participate but
shout out leaving because that dude is awesome i love him he's yeah he's one of my favorites in
blockchain space i just love the guy um but hey aaron um i know we got to talk a little bit about rwa
tokenization here and that's right up your alley maybe you can go over that with ty
absolutely i would love to ty um let's let's transition over to rwa's i wanted to ask you
kind of more about real world asset tokenization and how hedera has been allowing for the creation
of diverse asset types from you have regulated security tokens all the way over to nfts can you
kind of share which you're making a comeback by the way i am so happy for the space right now if
you were an og nft holder you're probably really excited to see some of these airdrops that are
happening um can you share some of the latest developments from this year in terms of real
world asset tokenization on hedera yeah for sure um it's definitely been i think a really active year
for hedera to have a lot of maturity in this um this vertical um as elaine was talking about one of
the main things that a that a network needs is the ability to understand off-chain data especially
for something like real world assets where um you know creating a token isn't terribly difficult and
hasn't been in you know cryptography for a while like back in 2017 there was this whole initial nft craze
and tokens the hardest part of an rwa is to make sure the compliance and the legal compliance um the
ability to look up information uh the jurisdiction uh how much of an asset is being distributed in what
geolocation on the planet there's a lot of governmental oversight uh across the globe on how these assets
have to operate what information needs to be on them um and so though hedera has had a really good
tokenization technology for a while this year there was a lot of um a lot of traction inside of the
um i think maturity of real world asset tokenization on top of hedera and we've seen that through
different products that hedera has created to simplify tokenizing um such as the you know rwa tokenization
studio the staple coin studio um and through oracle integration so today is a great day to talk about
this um we have chain link oracles on mainnet today and so that allows you if you have a asset that
um let's just say it's uh it's founding documents or or the governmental documents are inside of this
chain link oracle and in order to do a trade you need to check on the oracle to make sure that that
geolocation is sound for this investment you can do that on hedera um this you know hedera's ability to
both have its own native token service which is the hedera token service which is a protocol layer
and a specific way of tokenizing that is less risky than smart contracts but has a trade-off in
flexibility or if you want to launch your um rwa as a standard like an erc 1400 or something
both work on the network and so that i think hedera's position and our ability to meet the market where
it's at this year has been realized as we have multiple different methods of tokenizing and we
have the oracles and infrastructure that one would expect uh from layer zero for cross chain uh we have
you know supra pith now chain link um all of these are fundamental foundations that you need uh to to
fully realize how a real world asset could work and i think hedera is up to the task and has the sort of
gam to say it again uh the gambit of tooling that's a a enterprise would want to engage and tokenize
their assets for maximum flexibility um depending on their use case they can choose different
tokenization types they can um you know integrate with different oracles they can use layer zero to
transmit to different networks so all of this is sort of um rwa renaissance year and we're ending it on
an extremely high note with today chain link mainnet uh hitting mainnet and again all of these
toolings just sitting here ready for people who are interested in rwas to try out the dare
amazing i love this topic because i feel like it's something that we can continue to dive into and this
is like on just an everyday basis those who are kind of wanting to get into rwas and don't know much
about them um you know we host these spaces a lot but if you're talking to someone who's a big industry
leader like ty in the space um that's definitely someone that you want to tune into so i love
everything that you guys are doing with hedera i want to bring devon into the convo as well and while
i'm doing that i'm going to bring hbr foundation up amazing devon um i know ty just touched on
how we're bringing in tokenization you guys also launched a number of different products
um or we're going to call them studios and accelerators this year one of those was an asset
tokenization studio which is another really cool thing that you can do with rwas can you share
some of the use cases and applications that came out of the studio
yeah absolutely it's kind of funny it's actually like three months to the date
since our launch so it's a little mini anniversary uh i'd say uh asset for anybody that's not
unfamiliar asset tokenization studio is open source platform built on a dare that really just
simplifies the creation management and compliance of tokenized real world assets like bonds and
equities um ty touched on it a little bit the one of the big value points is that the standard erc
14 and one erc 1400 is like the unified standard for security tokens but it kind of lacks the
foundation to support all details of the asset on chain and asset tokenization studio helps um solve
that so um sort of sort of things that we've been able to see from that are people being able to
tokenize like regular regulatory compliant securities given the fact that asset tokenization studio falls
under a lot of us regulations so it helps allows like enterprises to uh tokenize asset and meet uh
tokenized assets and meet legal requirements without having to worry too much i think one of our champion
use cases is uh red swan they actually were one of the initiative initial lead partners of the the studio
launch it was hashgraph hbar foundation io builders and red swan but they are using asset
tokenization to tokenize their portfolio uh the real estate portfolio and they've already tokenized i
think well over six billion dollars or four to four to six billion dollars um which is really really
exciting to see and they're continuing to do more and they were looking to like basically improve their
liquidity um really lean into the idea of fractionalized ownership we see um sort of digital bonds
being um used the same way through asset tokenization studio uh it's it's merely the beginning i i'm
really excited to see more people come into the ecosystem and and leverage this toolkit because it
really does make that whole process a lot more simple
and and devon there's a an nft studio correct as well i wanted to touch on maybe the target audience for
it and who that would be yeah yeah the nft studio again was was built to help kind of simplify the
journey from concept to market and it was a a pretty broad net cast out to the sort of the users that we
wanted to attract to this it could be for developers could be for creators and artists and also enterprise
leaders uh i think for developers we just wanted to give a little bit more clarity on what the technical
process was such as token creation association and how you like manage the cost uh for creators we
we really want to simplify is that that process of view focusing on how you monetize your nft so if we
can make it simple affordable and sustainable and have you be able to focus on the creative portion as
opposed to uh the technic class the nft studio is sort of perfect for you and then for enterprises that
are looking to scale and are looking for that security and compliance and in those types of
needs attached to whatever sort of project that you're you're looking to do in regards to the nft
space nft studio can really really help out with that so i i think it's sort of a one size fits all
kind of solution um really kind of trying to simplify that that process of of doing that go to market launch
with your with your nft project and touching on the studios i believe there was a studio um that you
guys implement it's called the stable coin studio that's an open source sdk that simplifies the process
of issuing stable coins what was that a pretty successful product launch for you guys ty yeah yeah i think um
so again uh i think hedera has a very solid foundation in our technology and in our consensus
and um we've been talking about that for a very long time uh i think no one can do it better than
lehman uh just kind of spinning the dream of how this this technology can kind of change how we interact
with each other on a global scale um and then this year has been really focused on normalizing and
lowering that barrier of entry to see the tangible value for different people in different verticals so
the stablecoin studio was much about sort of targeting enterprises or banks or people that need
to generate a carbon you know almost carbon negative the least amount of energy used hedera's consensus is
just very very green um it's very fast and this stablecoin studio kind of put in a bunch of different
things that it would take a say web to or regular corporate industry a while to understand all of
the nuance and so stablecoin studio has things like an administration and compliance so it provides
functionalities for minting burning freezing pausing these stablecoins along with like kyc and anti-money
laundering or aml uh those those slides are built into the platform uh it's simple to do proof of reserve
or it's much easier to do proof of reserve um it builds it it's built in for integrations of existing
on-chain oracles um and enhances uh transparency in the treasury management so you know that stablecoin
is backed by something uh custody integrations so it integrates uh with custody providers facilitating
secure asset management uh and we've already already seen a couple organizations start using the
stablecoin studio for proof of concepts from uh shin and bank um and and just kind of across the
gambit it's gotten some really good traction on what where i think we're at in the market isn't
okay everyone send it that's just not how enterprise works it's not how major corporations work it's not
how banks work but we're in this proof of concept phase where crypto has gotten enough into the the
global psyche that this is a value add for um industries i think onto finance did an amazing
job showing that you can make yield on your t-bills that are just sitting there devaluing and you can
get five percent on them and for banks that's an insane amount of free money when you tokenize and so
slowly but surely over the years um it's kind of been chipping away at cryptos just for criminals to
crypto is the new financial system in which you can gain value and as these um enterprises corporations
start looking at chains we want hedera to be um facilitating a seamless user experience to
understanding bringing the barrier of entry much lower so that these people at these industries can
see this is not just tangible value it's not you know it sounds complex but it's it's really attainable
it's really you know plug and play and all of our studios that we launched this year i think
again lower that barrier of entry and bring that aha moment much closer to these industry leaders who make
decisions which is imperative for the entire industry and again uh hedera believes uh at least i believe
that hedera can um sort of spearhead that and just be a part of that kind of ando finance um revolution
of bringing these these companies on on network and providing value for for them and for retail and
they're all consumers now ed i i feel like you barely spoke i want to make sure i go to you before we
finish the space off um we talked about you know the developer experience earlier but i want to talk
a little bit more about it because this is really really critical i mean we're doing things to bring
in new developers and make them feel welcome um you know from joining that the linux foundation all
they're doing as far as the centralization is concerned um but this past uh this past year
hedera was honored and optimizing developer experience and heads off to you i just got to say like
a big part of that in my eyes has been the job that you've done being so approachable so
willing to help and you know extending any kind of assistance that you possibly can um can you share
maybe some of the examples of improvements uh in developer tooling for you know that happened over
this past year that sounds great action and i was actually having the time of my life just
listening to all these great speakers uh but yes happy to share about the journey to optimizing
that onboarding experience and to provide a little bit of context there on hedera developers have a
lot of flexibility they can they can go down uh an sdk path right if they just want to build with
traditional languages like javascript java go and a few others or if they're evm developers they can
take that journey you know and use the existing tools and libraries that exist in the ethereum world
and use that on hedera so just wanted to recognize those two ways of building that devs had and so
on the sdk path on that you know way of working with the hedera apis i think richard's team and simi's
team have done an outstanding job you know making sure that those sdks are high quality easy to use and
are always supporting the new features that you know come out every month with the implementation of
hedera improvement proposals or hips another thing that has gotten me very excited in my team has been
the improvements that our product and engineering teams have done for local node testing and also
that you know the tutorials and documentation that we've written to make that process a lot more
approachable and easier so you know you don't have to like depend on on the test net you can simply spin
up your own local node on your machine and then test against that to speed up your development just
do it maybe if you're on a flight or something just it it there's many reasons uh positive reasons for
doing that local testing using local node and then another part that we focused on on the developer
experience side is providing those dap templates because we have the fundamental building blocks
and then some some of my team members have focused on how do we incorporate some of those other
fundamental blocks maybe like the wallet connector maybe uh you know giving a basic starting point
for building a single page or multi-page application and so i think those dap templates you know that
incorporate the hedera wallet connect and the ability to connect to um even metamask have been of a lot of
value and that's something we've seen in the feedback from hackathons and you know just developers
that are looking for that type of template when we think about the journey for evm developers i also
think um you know our engineering teams our evm team have done an outstanding job but also i want to
go back to to the foundation's job and the work of developer advocates providing that robust infrastructure
for developers to uh deploy on hedera uh smart contracts so one thing i want to call out is you
know hashio for testing hashio is just a json rpc relay that is available to everyone for testing
purposes so you don't have to pay you know you can just submit your transactions against that but there
are also these commercial providers that the foundation and elaine's team has been able to bring
on to you know on board the hedera ecosystem like quick node validation cloud that offer those high
capacity and high performance plans uh for uh production use cases so i think that has been
phenomenal to see all that robust infrastructure for json rpc nodes and we also talked extensively about
you know some of those other pieces that have also come along like the uh the bridges the oracles and
and everything else that is going to enable that those deployments of new applications and building
of new applications and yeah i want to just close with the work that our engineering team has done
making our evm easier to use right whether it's uh staying up to date with the latest hard fork of the
ethereum evm to increasing the support of our native token service through our evm just to you know
provide a tighter integration between our native service and our evm that has been spectacular work
that i've seen our engineering team do and then of course we're always trying to provide the the best
examples the best tutorials to make sure we're equipping those folks so currently you know the
engineering guys have been doing a great job and keeping us busy you know uh talking about these new
capabilities these new things that make hedera our sdks and the evm easier to use and by the way i just
want to mention those as the case i believe now they're part of hydro so uh that's pretty exciting
to see that move of those of their sdks to be now on the on the hyro organization dude there's like
so much stuff that i want you to cover that we don't have time for like there's six million hbar
allocated to thrive hedera that's nearly two million dollars and the bull run hasn't even started yet
like there's just so much for developers and people that are looking to build out uh on their
ecosystem like hbar foundation like hats off to what you guys been doing like actually caring about
the development of this ecosystem is incredible and i really really do love it um anything you
want to leave us with um i know um we don't get to have richard on as often so maybe richard any any
parting words any anything that we might be able to expect in 2025 this is the the safe space it's just
family like you can leak alpha as much as you want well you know personally i'm very excited for 2025
um if there was one thing that i wanted to really really focus on as a team in 2025 is to just make
the developer experience on hedera the absolute best of any network i want people to choose hedera
not just because we've got the best consensus algorithm not just because we've got the best fees
or the best performance i want people to choose us because we are absolutely the most pleasant and
and awesome to work with so a lot of details there to try to bring that vision to fruition but i think
that's what i'm really hoping for in 2025 is we will be sitting here uh a year from now and uh you know
there'll be 10 times as many developers okay i just picked a number out of the air safe place you
said but uh you know 10 times as many developers it'll just be awesome and uh and continue to grow
well that's a good number i like that random 10 000 number i think that that works well
um ed anything on your front before we close yeah i just want to echo what richard said um looking
forward to making that developer experience as easy and pleasant as possible and also you know
going after those developers letting them know about what hedera offers you know how they can benefit by
building on hedera so that for me and my team is going to mean a lot of events hackathons opportunities
to get in front of those developers and understand what are their needs what are their pain points what
are they looking to solve and then um you know aligning those needs with you know the the great
solutions that hedera has as a platform but also that the opportunities that exist in our ecosystem
for those devs to come and build and provide value to our network and you know bring our users and our
community members into those applications so yeah looking forward to growing the developer involvement
but also you know the the adoption the network effects that we want to see as part of this ecosystem
so i'm also very optimistic and very excited about 2025 and you know i'm gonna stop there because
i can keep talking about like all the things that richard's team is talking about or working on
uh all the things that my team is working on from the dev experience perspective so very optimistic
and um very excited about 2025. man i gotta get a podcast going with you like there's just so much
that we can talk about but uh thank you thank you so much i appreciate everybody that's just jumping
in here listening to all this stuff that's going on with the hbar hedera ecosystem um honestly we do
spaces because of you all we want to make sure you guys are staying uh aggressive what's happening in
this entire entire place so just remember hedera.com if you want to check out what's happening at
hashgraph that's hashgraph.com and if you want to check out the hbar foundation it's just hbar
foundation.org these guys are incredible i'm so thrilled at what's going on what's being built on
their platform and how they're supporting devs to do it all super super happy to have the
opportunity to talk to the people that are actually building and making things happen so thank you all
so much if you guys are down there make sure you give these guys a follow they are doing some
incredible things and definitely deserve um the attention um more attention than what they're even
getting now so thank you all so much aaron thank you so much for you know hosting here with me i know
i try to talk i talk way more than i should appreciate you cutting me off always appreciative of that
and most of all you listeners that stuck around through this entire time thank you for being here
and you know make sure that you got the notifications set for these spaces they happen
every two weeks so we want to make sure you guys are aware of everything that's happening
in these amazing ecosystems thank you all so much and we'll see you then
