Hey Ashley, can you hear me? I can hear you very well.
Okay, terrific. I'm just testing my mic.
Hi, Amir. Oh, perfect. Now I can hear you. Hi, hi. How are things going? Pretty good. Still morning here in San Francisco.
go? 830 am. Got you, got you, got you. It's over here 530 back in Berlin. We've got a different time zone. I'm still catching up with the jet lag but had a great start to the week and a great weekend.
Hope the same goes for you. Yes, definitely. I kind of like Mondays. I feel like Mondays are meant for building because you spend the weekend thinking, you know, generating ideas and you bring it all to the table on Monday and then the rest of the week is
to put that all together. Very true, very true. Good that we've got our marketing meetings on Monday then. Oh, yes, definitely. It's a lot of note-taking, though, trying to capture everyone's great ideas. So I love it.
Well, if you think we should get started since we started a few minutes late, please go ahead. Yeah, terrific. Okay. Well, hello again everyone and welcome to mental protocols weekly Twitter space is always we're happy to have each of you here with us live for those
of you that will be listening into the recording. Thank you for taking the time. I know everyone is busy. I do also want to apologize for not being able to host a space last week, but we'll make it up to you today. I promise. We really like engaging with the community, even if it's not live and you get to listen to our recordings. It's a chance
for us to speak about our mission, vision, values, what we're working on, what the team is up to, pretty much where a mirror is traveling and any hemisphere at any given time, but I'm glad he's back on that side of the pond, safe and sound, but he does need some rest.
This week we've been testing our protocols alpha version in-house, so I wanted to give a big shout out to our tech team. They're working very diligently, consistently. And so, you know, there's a lot to be said on how hard they are working.
We are working out the kinks and are very excited with what we've seen thus far with our alpha version of the protocol. While the tech team remained busy, the marketing side took part in an AMA with skillswap and continued to make connections around the world as I stated.
to Amir's travels. A quick side note, we will be answering all of the questions from the ScaleSwap AMA throughout the week. We started last week and this week we will answer questions from that ScaleSwap AMA surrounding mental protocols product.
So stay tuned for that on our social media accounts. Our last space was focused on our values, how community plays an important role in building the ecosystem and much more. We really highlighted the importance
of community and you know the Web 3 as a whole. Today once more we'll focus on Web 3 and we will also take a stab at tokens, tokenomics and engage with everyone in that realm. So without further ado, Amir, how are you?
And I'm doing awesome. I'm doing a great looking forward to be at a speaker event in like 1.5 hours in Berlin. So I think also at Everland, I know a few other
awesome people and yeah looking forward to that but of course I'm very much looking forward to our to this base now and the exciting topics we are about to talk about
Would you like me to jump over the first questions and start it this way which we've been discussing so if you're having to ask? No, no, no problem. I did as I mentioned we were going to talk about token
It's integration within Web 3, the importance of it. Just some very high level. So for those that really don't understand token economics.
know, if you'd like to shed your knowledge on that arena, which is vast, you know, in your opinion, yes, I guess I was going to ask you the question, you know, what is tokenomics? I got to got to got to get a bit like we'll jump into that and
more depth, but like as a starter a token plays a crucial or should play a crucial role in a technological ecosystem, you know, basically with three projects. And I think we'll dive into that a bit more after talking
about blockchain again a little bit to understand exactly where it comes into place. It's like the token can be like it's a technical perspective we have to have on it. It's also an economic perspective we have to have on it also specifically in respect of which stakeholders we have which we're aligning around this with three project.
what is the utility of the token is a of asked question in different ways and yeah has to make sense so maybe before jumping jumping more into the tokens and the tokenomics maybe you just see easy easy start again for those who join in and are new to the
field of Web 3 and blockchain is like maybe what got you inspired about blockchain in the first place where this token which will take a look at plays a crucial role. Is that okay Ashley to direct that question to you? Sure, yeah definitely.
And I think my introduction to blockchain, I think I mentioned it before, but I had worked on government contracts here in the United States. So I was writing RFPs, holding contractors accountable to the qualities and standards to me.
or exceed what they would state within a contract. And I think I mentioned it as well, sometime back, that I was looking to automate this process. You know, as everyone is aware, government contracts are lengthy. There's a lot of red tape, things take a very long time to go through the
chain of command, let alone leave your office. And so I had Googled smart contract, not thinking anything about blockchain, smart contracts, web3 tokens, communities, and somehow the blockchain popped up in the Google search. And that's how I ended up within
this whole Web 3 ecosystem over time. And as I took a look, you know, around that time, NFTs were sort of taking off more of the Board-Ape approach to it and never really understood tokens
you know, from a basic beginner green horn, you know, I just thought of non-fungible tokens as a picture. And I really had to educate myself over time, but to be completely honest, it's, you know, I'm not an expert in that realm. And so, you know, when I
sit on other Twitter spaces or I speak to other people within Web 3, everyone asks, what's the utility of a token for a given project? How can I use the token? What does it give me? That's a question I hear so often. If I have a token for a said project,
You know, what do I get? And, you know, it's so vast and every token is different. The economics behind a project's token is so different. Everyone has different utilities, different use cases, and you know, what they're essentially trying to achieve.
And for me, with mental protocol, our mission vision and values align with what I think about when I think of regenerative finance, building communities, putting quality out there to save
our planet, you know, Mother Earth. As you stated before, I don't know if I'm going to save this verbatim, amir, but Mother Earth is our main shareholder. And you know, anything we can do to save the planet is why I aligned myself
in such circles within the Web 3 space and regenerate the finance. And that's how I ended up here and that's how I started learning about tokens altogether, but more from a beginner's perspective a few years back.
awesome thanks a lot for sharing Ashley I think that's always a good like inspiration also for others to hear how one got into the topic and what were those things which captured you to stay in it so I myself was also like in the in the realm of like digital business
business models, looking at it as a business and economic student. And there the platform economy was like very interesting to look at different business models there. You've got the GAFA companies or there was already a few name changing but Google Amazon, not Facebook anymore but Meta and
Apple, all of those different business models come together through a business model perspective as a multi-sided platform. And here blockchain technology, which like and what are multi-sided platforms or how do they achieve a lot of strength in the market.
through network effects, through direct and indirect network effects, which allow them even sometimes to integrate very strongly with the users and create like lock-in effects from an economic perspective. But also winner takes all models where they basically like Amazon right,
have a big share of the market where they go to. So having this perspective on different marketing things and stuff around it and sales blockchain technology came as like a intermediator basically meaning or holding the promise to
take away those powers from those centralized platform structures in this context that doesn't have to be a platform per se, it could even be a third party like a bank, right? This was a big promise of Bitcoin at the time. So coming from a technological business model perspective, that's what captured me a lot, I would say.
around the blockchain, but they all lead to one thing. It's like a community driven, yeah, kind of rather public, therefore technology out there on which many people are building many cool things. And I think it's like a kind of a push as I think when open, when the internet
And it was out there and like, let's say this approach towards like the open structures and open source building and sharing the technology together. This is also something which accelerates now basically blockchain and Web 3. So yeah, I was like reading about how to find applications for blockchain as this is like a scene as
you internet which you can apply to all the fields also to governmental contracts and optimizing the processes around that. So that's I think a really really cool thing in general. Maybe to jump into the before jumping into the tokenomics into what is a blockchain
And Ashley, if I could question back to you, what are the things which describe a blockchain to you? Maybe as a small starter, I'll answer the question and jump to the comics. Yeah, no problem. When I think of the blockchain, the first thing that comes to mind is
You know, it's just a ledger of sorts. And if I'm trying to depict it like in a picture, you know, I just see a bunch of nodes or, let's say, computers talking to one another. It's a peer-to-peer platform, if you will, you know, as you mentioned, there's no middleman, right? We take away that third party.
It's a transaction-based protocol or blockchain as a whole. This is my understanding. Person in San Francisco wants to send digital currency to someone over in let's say Europe.
I view the blockchain as my understanding of it is just a ledger, peer-to-peer, utilizing nodes that, you know, sprinkle the globe and it gets rid of that middle party when making transactions, peer-to-peer.
and the blockchain, I think, was initially created for that purpose of the Bitcoin and proof of work. But it has since evolved and there have been so many use cases that have stemmed from that very initial white paper.
from Satoshi and it has taken on a life of its own and I think it has the possibility of creating another revolution and I suffice it to say I think the blockchain will play a very crucial role in climate change.
Thanks a lot, actually that's a lovely explanation of blockchain and why and how it is important and can be important also to climate change and climate action. So to sum it up, the different attributes which you just mentioned
were that they're quite decent, that it's a decent technology, right? There are different nodes out there. Everybody can theoretically download, I don't know how much it is now, but maybe 220, 230, 250 gigabyte of information and be a part of the Bitcoin
network having this information represent all transactions happening basically from block zero to the current block. So it's a decentral technology instead of storing this data at a bank, right? A bit going, a bit going network holds the information, the transaction information from
person AS and person B this and like the amount of bitcoins. So that's not stored at the bank but D central as described. So it's not only D central, it's also cryptographic encrypted. This is a technology not going further with a deep dive
into it, which allows you as a user to have control over your platform, over your account, using this technology, this decentral technology. So although everybody has it, right, has this 250 gigabyte on information, you have a private key.
And if you talk about this one of many application areas of cryptographic encryption in blockchain, you have a private key and it can access your funds, so to say, and then money around, only you can do that. So besides being decentral cryptographic, encrypted, there's also a consensus mechanism which
has to come into play, which basically was describing, as Ashley mentioned before, the synchronizing of those notes, which are decently distributed. So, for the reasoning of having a common
senses which is correct. There are different incentives set. One consensus mechanism is proof of work of which we heard a lot. Basically, Ethereum moved away from proof of work to proof of stake. Ethereum is
another blockchain technology with its cryptocurrency, also a utility token. We'll discuss that. But later I'm seeing already we've got 10 minutes time left. But we came to the point of talking about a token. So this third attribute I described of blockchain, besides decentralization,
and encryption is the consensus mechanism where in the Bitcoin example, it plays a role and basically pays money or gives a monetary incentive to those people supporting, invalidating those
transactions that we synchronize them in a correct way. So they're like a protocol incentive in a strong utility. Besides, of course, if reading the paper of Satoshi Nakamoto, there are also a few other reasons why this
talk might be there. If we dive a bit deeper into it, we'll understand that blockchain technology enables different organization and individuals to come together, different stakeholders, in the case of regenerator finance,
I'm also having Mother Earth as a stakeholder at the table. We basically come together towards forming a common goal in the application of blockchain technology and climate crisis. It's about creating strong and scalable as well as verifiable climate action.
So the token may play different roles for the different stakeholders and question often asked which actually explain this what is the utility what is the use case behind your token because as we know from the different ICOs which were in 2017 very loud and where we had like a
a strong bull run and then like a strong crash right at the end of 2017 or beginning of 2018. There were many ICOs where the token was used from projects who promised a lot of great things to happen having a strong utility case or maybe
maybe not even a strong utility case, but the people were not educated enough. And they received a lot of funds for those tokens and they never came into play. So that's also one reasoning why now people are asking why do you need a token and what the heck are tokens, right?
is our question over here and why do we need them at mental of this Twitter space. So we discussed like one use case in the looking at the consensus mechanism of proof of workflow token, before jumping more into the tokens and how they're used here at
mental as they if I can direct a question to you. So what are tokens for you or like different use cases you'd like to mention maybe before jumping into mental protocol as a use case? Sure, no problem. You know token I think they have numerous use cases it really depends
depends on the project and what that project's mission, vision, and value are. I think use and value are so crucial in tokens and how you put them out. It's kind of not a pump and dump. You really have to
provide value to your community. They're not just going to want to buy into something that they have to fork up the money for. I think in supply and demand side as well, there are so many avenues that a token can take and that
the value and utility that they provide. And also, demand side is important. What are people looking for now? And again, what will they receive? If we just simply say, hey, you'll purchase a token, you'll save the planet, the upside and the positive of
tokens in my opinion is the transparency that they provide via the blockchain. And so I that's a loaded question of me or thank you. Great answer. Great answer because it's a complex one. So different sectors we can take on it. Like one very
very interesting concept, the science like this consensus mechanism is that we kind of have a democratized access to this project in a way where also the consumer becomes kind of like a partner also of this project, right? So if you say
Okay, okay, I have to buy a few eats. I need that for different reasons. We know of various reasons of people having Bitcoin in the early days, amongst other. But let's say you want to use and send a few funds via Ethereum and need therefore the token.
There also has to generally be a use case if we look at other projects around over here. So like one point I want to mention, sorry, for jumping off is that you own also this project. You not only use it, you own it because that's like the the value store over here, which is derived
out of the utility. So this concept of prosumer I believe one calls it like without looking into blockchain and with three and the stuff this is as a concept the prosumer. So that's like a mix between the end user let's say and the producer. So this concept is like uniquely
Manjable are like lived by this by this technology web 3 in general So that's also like a cool cool thing, but as met as you rightfully said there are so many different Things to to have in mind when you want to start talking about a talking and why why they're interesting so and if we jump down to
to a mental protocol like we've got one case we're like a governance token that's one utility so we're set up as a foundation and a three-native protocol which has as the first two direct
relationships on the left and right side on the supply and demand side. Web three partners on the one side. Web three refi tokenizers. Those are our like protocol partners looking at mental protocol on the one side who give access to tokenized impact tokens, which can be environmental or social.
So on the other side we tap into different L1s and L2s who have a reach out through their own DAP ecosystem, but we're also very aggressively working towards offering features to words non-web 3D to be companies. However, our first contact points on the
the demand side are the L1s, L2s following our strategy or vision and mission of making web 3 the first climate positive industry. So when jumping back to our token and us being a foundation, it basically set up to allow
a doubt to happen where a lot of governance is happening through the tokens and token holders regarding parameters and how to change and further develop the platform. Those tokens have on the demand side also utility next to the governance and the
utility for the demand side is basically access token. This is like a second utility you can attribute to Manfall Protocols cool token. So what does access mean exactly? We have a different like a set of services which we offer on mental protocol in short,
calculate your carbon footprint and on-chain emissions as a web 3B to BRB to C project or allow you to provide some further data on your company. For example, how much you consumed as a whole company including all air travels and off-chain emissions. So after
us having this information on the carbon footprint, we allow you to tap into high quality environmental projects through tokenized carbon credits and take responsibility for your carbon footprint. So we offer carbon utility or climate positivity as a service. In order to access
This set of features, cool tokens are to be state, which there are different ways to do so. So I'm just taking a look at the time. One way is that we do it as a protocol for our partners. The other
other possibilities that our partners do directly and then can also take ownership into the admin functions of the user account and put and use their settings. And finally also the community can unlock cool pools by sticking cool talking as an access is an activator. So now we talked about
two different utilities, the access utility of our token giving access to mental protocol, giving access to those user accounts with those cool pools and hence giving access to environmental friendly projects and taking responsibility on the
Supply side we will have a quality assurance utility we're thinking of which is basically giving our suppliers the chance to vouch for their quality through the staking of cool token. So in case anything occurs
We always have some commitment in some form there. That's how we want to also involve our suppliers in participating in the governance of mental protocol as this is a tool geared towards tokenizers of impact
open. Unfortunately, I think we have to close the statistics today as the, we've got in Berlin at the 6 p.m. and have to jump off soon. But Ashley, maybe if you have no other further specific question, it's
The hard cut over here and we'll definitely also with our CTO and also the few others from our team have a more depth discussion of tokens and also blockchain and also met the protocol specifically in respect of tokens looking forward to that.
Thanks for the great jam, Ashley. Awesome. Thank you, Amir. And thank you to everyone who tuned in live and for those that will listen to the recording a little later. But that should be it. A good luck at your live event tonight, Amir. And don't forget
rest is crucial. Yes, yes, yes, thanks a lot of great session of you and looking forward to the part two of this. Okay. Yeah, that'll be fun. Cheers everyone. Thank you for tuning in. Thank you so much. We learned also everyone who's here. Bye bye. Bye bye.