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zeGate and 5am.Earth Proposal
Recorded: June 4, 2026 Duration: 1:41:52Space Recording
Full Transcription
Good morning. Good morning. Good morning. Give us give us a minute to get things started here.
Hey Dan, I just sent you a a co-host.
And let me know who's supposed to be added to it, so I can make sure I got everyone involved.
Interesting morning in the stock market. Definitely an interesting morning in the crypto market.
That's for sure, Yoram. Let me add you to co-host as well, and anyone I'm missing, just let me know.
So yeah, very very interesting day so far. Everybody mass panicking for no reason.
Sorry about that. Try to make sure that doesn't happen again.
Sorry, I still haven't learned how to put elevator on hold waiting music. Probably
because I'm hosting for my cell phone, like I always do,
just to get the best audio. But it's okay. All in due time.
Hey Dan, can you hear me? No, but we are connected telepathically, so I can hear you in my mind.
Okay, I like that. Am I missing anyone from adding to co-host or to speak? There we go.
We got some requests. Yeah, we have it all. Wonderful now, but we have Mike, Shane, Mike,
join to speak, and Raoul is here also, and Odi. All of them might might want to say something
as we go forward. Sure, fantastic. But I see there is some very active other kind of spaces going on
now. So hopefully we get in. I mean, that's going over coffee with a lot of people there. We'll see.
Yeah, you know, I listened yesterday. I was in the space and. I think I think the community
as a whole has really just lost sight. Dan and I had a nice long conversation yesterday.
My my vision for where Cardano is moving and the crypto ecosystem. We really need to be behind
projects that have real world utility. We need to start maturing as a ecosystem,
moving away from meme coins. You know, projects that have no potential for future revenue outside
of new token holders. You know, I think this is a pivotal moment right now, where people say, "Okay,
this is real, and we're and we're doing this. The technology is here, or we're going to let it die.
" And you know, being in the Cardano over coffee space yesterday made me realize
that at least half the community is still living eight years in the past right now,
still talking about meme coins. Focused on things that are just not not relevant to
where we are right now, and not even understanding of how we even got to
the current Cardano price point. You know, this proposal is very important for multitude of reasons,
but a big reason, utility, and people need to wake up. Utility is the path forward,
and if you don't have utility, I know it's going to sound strong worded,
but There should be no treasury funds. In fact, people should be moving liquidation, you know,
liquidity into projects with utility, so those projects could leverage that liquidity
and be able to become successful. It's a very important part of where we are now,
and I know that Charles Charles understands that also. Utility, you know,
something I explained to Dan yesterday from the way I view things. Think of Cardano
like an operating system, right? This is Microsoft Windows, which we could all agree is probably
the best operating system or most widely used operating system, and it's great.
But if you don't have a computer to put the operating system on, well,
then the operating system is kind of useless, and that's how I view Cardano.
Cardano is a great operating system, right? Now we need the computers to load the operating system
on, and you know what you're doing. On your side, what Palm is doing on their side—that's
the computer, right? We need to start utilizing the blockchain technology properly,
and this is a path. Ben and I had a long talk last night about you know things
that are going to be happening soon with the Palm DAO. We discussed a possible first proposal from
the Palm DAO, something that would affect the entire Cardano community in a positive way,
and I think it would start to set the standard. Again, I'm getting a little ahead of myself.
There's a lot of work that has to do before that. But I really think we're at a pivotal moment here.
The community needs to pay attention to these projects and these proposals that are going forward.
Very, very important. Yeah, definitely. I think you know we need we need to offer paths
for adoption, right? A way and concrete paths for adoption, not just say, okay, we'll build
incredible technology and people will come. And I think this is what you know Palm is trying to do,
and this is what we are trying to do: to offer a concrete path for adoption in a vertical approach.
And I wish at this cycle there was three or four or five or six other, you know,
paths for adoption as a vertical approach. There are there are a few other good business.
KPI-related proposal like Cash and CBDA and others, but this proposal is really about the path
for adoption, and it's that is in line, obviously, with the vision of Cardano.
But it's very concrete KPIs. We have incredible partners. Rahul is here also on the line.
Incredible partners to to achieve them. It's very concrete proposal. It's not just
kind of a wishful thinking. We actually wanted to do it originally bigger. I mean,
our partners against Next in Gender Foundation India, they work with millions of farmers already.
So we could have actually started even bigger, but we say okay, it's big enough.
But we could have done it bigger, and these numbers are important because when when we have
such big number, it just opens for us the opportunities to to to enter even bigger partners, right?
In the next proposal, we're already partnering now with Sindhanda Foundation India,
but in the next phase, because of the scale, so Sindhanda Foundation India
onboarded us to a bigger program with the IFC and the World Bank, getting into more countries,
and and that's incredible, right? And so it's really the beginning. I will share in the chat
here also kind of a website that that of of this bigger bigger vision program that
Syngenta Foundation is part of and with the World Bank and they are planning to get to
100 million farmers in the next few years. So again, we are starting with 500,000
and it's incredible, but the opportunity here is enormous. Look at that. Yeah, actually,
to to speak on what you were saying, Evan, you know about kind of I feel the community
right now is in a bit of a self soul searching type of. Space, you know, some. I mean, you know,
there's a lot of drama. Obviously, there's a lot of kind of back and forth. You know,
people kind of taking extreme views because of various different reasons. Like, it's price,
it's the lack of adoption. It's it's it's it's always a million things, you know. And I think,
I mean, you know, it's okay. It's a community, right? So, I mean, yeah,
it's not okay for everybody to be like, you know, fist fighting each other, but it happens,
you know. Disagreements happen. Kind of alliances happen, and you know,
velvet revolutions also happen. I mean, it's it's this is how you know this is how humans work,
right? So we can't like we can't expect everybody to just sit here and sing kumbaya. I mean,
the only time that really happens is when the price is pumping, and even then, there is you know,
it's just the you know the the group of people uniting against other people who are talking shit
is bigger, but there's always somebody talking crap, right? And so we got to think about
and what I always think about, right? You know, with what we do at Zingate and with this proposal.
I mean, look. Um, I know that some some got a really cynical about about this,
but I don't give a shit. I mean, look, I'm still here for the same reason I've I was I was here
from the beginning. You know, uh, it's division, right? It's division. Um,
it's basically opportunity inclusion through through Cardano technology. That's what it is.
You know, however however you want to articulate it, banking the unbanked,
connecting the unconnected, whatever you want to call it, right? To me,
it's opportunity inclusion through B T technology. That Cardano has built,
and we have the technology. As they said in that TV show, that many people here might not know
because we're old. We have the technology, right? We we have the tools. I mean, you know,
it's it's never enough, right? But we have enough to do the business. And I mean,
big problems require big solutions, and big problems sometimes seem like they're like, oh yeah,
what are you guys talking about? What are you gonna? How are you gonna onboard two million farmers?
You know, we we can't even get over. We fell below twenty cents today. You know, it's like okay,
and what does one have really have directly to do with the other? Like,
does the mission change because our price fell below twenty cents? To me, it doesn't. To me,
the mission of Cardano's does not change, and to me, the mission of what
we're doing does not change. To me, really, a proposal like the five a.m. That Earth proposal.
Is one of those, you know, one of those proposals that kind of like really, you know,
comes from the first principles of Cardano, and that's what we need to go back to, you know,
whatever that means to each one of us. We need to go back to that, and that's why we have decided to
to partner with with Yoram and his organization Five AM That Earth, because I mean,
it's it's it's it's just it's really where we shine. Best, right? Where we as a company, as Engate,
has shined, and where Yoram has delivered before, and his team has delivered before,
and it's no bullshit. And that's how you get adoption, right? How we're going to get adoption?
We get adoption through a bunch of JPEGs. I mean, maybe a little bit, but it's not going to be
big enough. I mean, we're talking about remember we were talking about onboarding billions, right?
Millions, billions. Okay, you can do that in a with a niche commercialization strategy.
It has to be big. It has to be two million. Two million isn't even enough. I mean, think about it.
We onboard two million farmers. There's like a billion farmers out there, right? There's
hundreds of millions of farmers out there, and and people within that,
with within that uh uh uh whole value chain, all of those can be onboarded, right?
So two million is just the beginning. It's like it's not even scratching the surface.
It's like looking at the surface, right? So we have to start somewhere,
and you can't think about this as like, oh, well, what do we do in this for if we can't do that for?
It's not a zero sum game, and that's what I think humanity has to really realize:
is the only path forward is to remember what those first principles that. Really touched us hard,
and have they changed? For me, they haven't. For many here, they haven't. And you know,
if I would not, I would suggest to really kind of reach it, reach down, and not let, um, you know,
just kind of petty stuff, or maybe not even be petty. It could be legitimate concerns,
but concerns really spoiled the entire. Thing right, throw the baby out with the bathwater.
Don't do that. This proposal is reaching into the core of Cardano. That's why it needs support.
That's why we support it. That's why we, as we, as an organization, Zengi,
believe that this proposal will. It is. It hits it. It hits all these points that are needed
for the Cardano ecosystem to grow. Yeah, I mean, Dan, you you nailed it.
For anyone who is now listening that maybe is unfamiliar with Zengate and FiveAM Earth, Yoram,
can you give a quick, you know, I don't want to say mission statement, but you know,
what does FiveAM Earth do? What's going to be the benefit to the average Cardano token holder,
right? Who maybe isn't educated on How fees work, how real business models work
that generate revenue, right? People have been very jaded over the last few years
in the cryptocurrency ecosystem with NFTs, pump and dump stocks, meme coins, right?
It's a whole generation of people they don't understand. What it takes to build a business
from the ground up, right? It's the cryptocurrency world for the most part, right? It's unrealistic.
It's unrealistic. You don't become a multi-billionaire or make a hundred million dollars.
Over everyone grew up watching the Social Network movie, right? You grew up with Facebook,
and you saw that is a one in a billion situation. Elon Musk is a one in a billion situation.
That's not the average person. That's not normally how life works. It takes time
to build businesses. It takes a lot of time, a lot of effort, a lot of self-sacrifice, you know.
And and again. For months, I've been saying that we're most likely going to reach a pivotal point in
in cryptocurrency as a whole, where everyone's going to have to make this tough decision:
Do I want to keep playing in the casino, or do I want to get to that hardworking job
where I have security at least, where I know I have a real product? Right.
There's always a backstop. There's going to be revenue. Sorry, revenue generated in the real world.
Right. And I've said this for a while: for cryptocurrency to not just survive but to thrive.
There must be real-world utility in projects, and those projects, right?
There has to be a product that is used in the real world that companies
and individuals are going to be paying for, right? We can't keep relying on the only way
token prices go up is when there's a new buyer, right? Imagine if that's how stocks operated, right?
That that can't work. The companies have to be selling a product; they must be generating revenue
in order to keep valuations up, in order to have dividends, right? To have stock buybacks.
People need to start to be realistic. So this proposal is extremely important at this pivotal moment
in Cardano's history. So Yoram, if you wouldn't mind, you know, just giving people
a little understanding of 5am Earth and the proposal that you and Dan ZenGate 5am Earth
have put forward. Perfect. Thank you for that. So I will start and say that it's we are,
as Dan said before, we are dealing with a very, very big problem. So it's estimated today
that there is 500 million small farmholders and around 1 billion people actually work in the fields.
And and we called it 5 a.m. Actually to connect with the people that work in the field. Right,
they wake up at 5 a.m. In the morning and they go and work in the field
and produce the food we are the food we are eating all over the world.
So we're all connected to that. There's two prime issues we want to solve with 5 a.m.
Concrete issues that are not related to blockchain. Right, blockchain is the solution
or part of the solution. One of the main issue is that the cost of information today from the ground
to the market is very high because it's it's fragmented. It's basically decentralized ecosystem of
hundreds of millions of small farm holders. There is a very big cost of information from the ground
to the market, and the market works mainly in a lot of silos. And and the other the problem that
it creates that every money basically coming from the market to the ground is very expensive. Right,
so if we look on the microfinance, right, the interest is extremely high; can get to forty, fifty,
sixty percent just for giving about seventy-five percent in some cases. Insurance, traceability,
compliance, carbon credits—all of these issues, all of these basically businesses,
multi-billion-dollar businesses—are done in not an efficient way today. And between us,
there is also a lot of question of the real impact they are doing. There's a lot of questions
about carbon efficiency, a lot of questions about if microfinance actually impact the people
on the ground. So it's very complex to have this solution. So 5m basically goal is is to create
a trust layer of information. We are creating a trust layer of information that basically bring data
from multiple sources, satellite information that can be done in scale. Partner like
Syngenta Foundation India that works with millions farmers through a through a program that
we can speak about later on. Another source of information, we put it in the trust layer,
and in the trust layer we can imagine all the different blockchain elements like oracle,
satellite oracle, normal oracle, identity, wallets, privacy, right? All the key elements.
There regulation, and we basically then prepare APIs so to many business applications
that exist today, and I mentioned some of them before, finance, insurance, and other,
as well as many that can come because of the trust layer. And and so that's kind of our vision.
Our vision is to create a more efficient supply chains, more transparent,
and basically help businesses, many businesses, connect to this trust layer and offer
better services to the farmers in order to increase the farmer resilience, better food,
more transparent food, and make the supply chains more efficient. That's really our vision. Yeah,
I can I can speak long time on that, but and I think the the big benefit that we have with
this proposal, and and and you mentioned right actually before that it takes a lot of time.
It's not that we started yesterday. We started, you know, I started my journey around that
eight years ago, when I was actually volunteering two years for a big non-profit foundation,
worked with hundred multinational in Indonesia and others, and then very, very intensively on this,
around this, we are probably working around three years already, and we are very fortunate to to
to meet and discuss several years ago with Indenta Corporation and through that with
Indenta Foundation in India, and Indenta Corporation is a multi-billion-dollar company,
Indenta Foundation in India it's an extraordinary a foundation that cracked a very big challenge
in the agri-food supply chain. They managed to create something we call
an agri-entrepreneur program. So it's a it's a big program where they basically choose
local leader local youth in different villages. Very tough selection process,
and they over two years they basically take them through an education process
and support them to become agri-entrepreneurs. And each agri-entrepreneur supports between 100
and 150 farmers. But what they managed to do great, they managed to scale this program already
to 26,000 agri-entrepreneur and around three million farmers, which is huge.
So this is type of partners that you can actually help with people on the ground, technology,
and business application that actually makes sense and and yeah and scale. So I'm going to ask,
yeah, makes sense. I'm going to ask the tough question, right? Yeah. And I'm going to ask it
because we're at such a pivotal moment. Again, something that Dan and I had really discussed in
depth. Right? There's clearly a uprising. We could call it in the Cardano community,
where people are now saying, Hey, you know what? We want treasury funds.
How do how does this translate right into profit for every Cardano token holder right What what's
the path Who's the customer here Are we going after individual farmers to be paying in any way
Are we having government organizations Are we having the UN right Are we going to leverage
UN contacts between 5 a.m. Earth and Zenge that they have Right, maybe government agencies
are going to be paying for these services. You know, I feel like we're at the point now
where we want support. We have to right put proposals together where people. You know,
they don't have a choice. They say, "No, we need survival." These guys are giving us a path
to not just survive, but to thrive. You know, I know what ZenGate does. I know what Palm does.
I have a very good idea of what you guys do. But I feel like it's really important
that people hear this, so they understand the difference between, sorry for the language,
bullshit proposals that have been being put forward for years, and proposals that put us
on the right path forward. Perfect. Great question. So, you know, the the product committee
and Intersect kind of defined the KPIs to 2030. So, and that's kind of the KPIs,
which is the KPIs for the ecosystem, and you know we can argue them a little bit and fine,
but it's kind of serve as a low stop, right? And include users, TVL, and transactions.
So this proposal is going to contribute big time to all of them already in the proposal phase,
not even in let's let's on the scale phase afterwards, but already in the proposal phase,
we are targeting 500, 000 users, right? Seven millions transaction, two million full transaction,
and two millions coming out in loans already trying. With multiple use cases
and multiple Cardano basically stacks that are being used in the process, right? Or here the ideas
and so on. So that's kind of the the soft numbers, and it's just the beginning.
It's really just the beginning. We believe that the the the lending amount
and all of that will be even much higher. But this is what we put in the pool. I mean,
and imagine we are, you know, what is missing today in Cardano is really users, right?
That's the first thing, users. Imagine that we have five hundred thousand users on the trust layer
with all the data on the trust layer, satellite information and information from the ground.
Cardano Dapps can finally build into a user base, so they can build application
that can be tested right with a set of users. If we look on Landano
with the you know land ownership, if we look on peer-to-peer lending through Liquid,
so all of that you have actually the user base to to offer all of these services.
So that's another important thing, and obviously during the proposal phase,
we are working very closely with ZenGate on the on the use case for compliance and EU DOR compliance
and you know connection to their. To their clients and business model with Seedstar,
which is an incredible company on the finance use case of the loans. So
and and with Andamio on all the reputation engine for the agri entrepreneurs,
which is also very important. So it's very concrete applications and use cases on Cardano
with very big numbers. I mean, we already with the transaction we have today in the
in the pilot phase, we're already number six in terms of transaction on Cardano.
I'm not sure I'm I'm so proud of it to be honest, in the sense that it was too fast for us to get
it right. It means that we don't even have transactions. So this proposal alone offers you know
huge scales for this amount of transactions with again partners that we can scale further. Yeah,
so I mean I don't know if it answered specifically. I can go into more details,
but specifically only in this phase, two million transactions, five hundred thousand users,
two million in loans, six thousand stocks, incredible world class partners.
I mean I think it's a dream for every. Every adoption use case for a blockchain. A hundred,
a hundred percent. That is exactly the response, right? That I was looking for. And again,
I think just to reiterate, there's going to be a new standard set for the entire ecosystem.
When it comes to making a request in any form for treasury funds, and you answer the question
right directly, a lot of people know that listen to my spaces. I don't bullshit. If it's good news,
it's bad news. It doesn't matter. The information is the information. There is no point
in sugarcoating it. Right, we are really at this point now where everybody in the community
needs to wake up, back the projects. That are going to make Cardano thrive.
Back the projects that are bringing real world adoption. We have great technology. Charles
and many others have spent years and years perfecting technology, right?
But it's been sitting in the box, and the box is on the shelf and it's collecting dust.
And we see what's happening as a result, right? Token holders are eating each other alive.
Everyone's at each other's throats on social media. Great. Let's all stop. Let's focus.
Here's a proposal that directly affects every Cardano token holder directly in a positive way.
This is something that gives a very positive boost for the ecosystem. This is the direction
we have to move forward. Projects that bring on mass adoption, way more users, increased TVL. Right,
we need more volume for every project. But again, we need to start having a culling,
and there needs to start being a unification, and liquidity and votes have to start moving towards
the projects that will help us thrive. This is a key, a key integral moment,
and I really want to stress that to anyone listening. Voting on this proposal is very important
for Cardano. Right, we're not just building out new tech to make Cardano seem shiny
and it's a newer version and no one's using it. No, we're at the we're at the phase.
Everyone here put in years of work, years and years of work, and now we we have this pivotal moment
where we're going out into the world and we're showing everyone, and and they're going to use it.
Right, everyone's going to be using it. Agriculture is huge. Everything going on with geopolitical,
you know, activity, food, food shortages. Those are going to be real things. Mapping out farms,
aggregating data on harvests. This is crucial information. You know, in the palm space,
we've talked about a lot over the years. Right, as more companies like Zengate, Five AM. Earth.
The more time that goes on, the more data is aggregated. That data becomes extremely valuable to,
you know, multinational corporations, to government agencies. Right? Those all then become
potential customers. Government agencies have very deep pockets, right? So
if you're invested in Cardano, this is the path you want to be on. It's very important to have
for everyone to keep this focus. Forget about the meme coins. Forget about the NFTs
and the fun stuff. That's that's great. It was great eight years ago. We've grown up.
We're past there. This is a real business here, and yeah, I was. Let me jump. I mean,
it's amazing what you said. Sorry to cut you, but I want to jump with two two important data points
that are important. First of all, and Benji will share in the chat some more links also.
But if you look on the partners of Sindhia Foundation India, the scope of partners for them,
and basically through the partnership with them, the access or potential access that we have for
these partners is something that is massive for the use cases that are working in, even in banks,
insurance, all of these companies, Gates Foundation, and all of the other organizations
support them. That's one important data point, and the second one, yeah, Raúl is here.
I don't know how much we we can share, but in general, this this they keep on
growing quite significantly in terms of farmers and agri-entrepreneur models on the ground,
like five hundred thousand a year, and this is sponsored by very big brands, right?
Already in the one that Benji will show with you, you can see Coca-Cola and you can see
other brands, and basically this this this growth is is basically that we are doing now
is going to be also part of a program with such a brand, which is financing most of the cost
actually of the farmer onboarding. And so we, you know, we have a small fee to onboard the farmers,
to educate agri entrepreneur, make sure that they onboard in the farmel.
But a big part of the cost is actually paid by the big brand, and we actually enter in basically
into their supply chains through that. And I speak world class brands.
So this is this is part of the of the benefit of partnering with partners like that
and doing things in a big. You know, we pass kind of the small pilot phase.
And doing things at scale, it just gives us access to all of these partners. And I give one example:
I was invited by them several months ago to participate in a government event called AI for Agri in
in India, with all the government officials there, including the prime minister. It's Maharashtra,
which is big district there, 105 million people, the World Bank, and all of that.
And I was basically the only blockchain speaker there, speaking about trust level of information
using the blockchain. And obviously, we start the discussion, early stage discussion, of with them.
But we can discuss with them as we show them we are scaling, and we can do that. It's scaled, right?
Then it become extremely interesting and possible. But this is just one example. Yeah, it's really,
you know, really again, really important that people see this is the path forward. I mean,
more more projects like this. This is where the focus really, I mean, it really,
really needs to be here in the community. For its own good. I mean, if we're gonna be serious,
and we've been serious, and there's serious money that people put into cryptocurrency.
Some people did it because they wanted to get rich quick. Other people did it because they saw
how the technology could help evolve the world in a positive way. You know, said it before.
I said again, Cardano is a great piece of technology that, unfortunately, has been, in my opinion,
under leveraged for years because the focus was never on utility and real world adoption. You know.
It's it's been a problem. Well, but that's the problem with the entire industry, though, Evan.
You know, like seriously. I mean, think about it. You know, I mean, putting on our big boy pants,
right? Not worrying about hurting anybody's feelings, but even Bitcoin,
even taking Bitcoin into account, give me one single crypto or crypto ecosystem that has reached
mass adoption. And I'm not talking about some, you know, some people using it
for another financial issue. But I'm talking about like. Like the Visa network adoption, or I mean,
on the level that we're talking about, right? Not not just yet another thing,
but really like TCP/IP, you know. I mean that that level, right? Because that's what we're talking
about, right? We're talking about how we're, you know, this technology is revolutionary;
is going to change the world. And I believe that. I strongly believe that, and many still do.
But you know, tell me one, one that did it, and none of them have. And the problem is that is
is time and time again. You know, we were just focusing on the wrong stuff. I mean,
not the wrong stuff. That's not the right way to say it. It means just we we we we're getting kind
of tunnel vision too much, right? And the big problems that require big solutions are scary.
You know, they're nice to talk about, but they're scary to do because they're actually risky.
You know, I mean, impact is risky. You don't make impact with you know small gentle moves.
You make impact with big impactful moves. And so yeah, I mean, of course, yeah,
but there's questions that people have about. Are going to reach impact with this?
They have reservations about. Okay, do you have these relationships? Do you have those relationships
set up? And yes, yes, we have those relationships, right? We have these. We have the tools.
We have the relationships. This is doable, and this is, and this is going to start.
It's like I said. It's going to scratch the surface if we're lucky with real mass adoption.
That's what gives it that real mass adoption. And this is something that I spoke about before,
and I'll say it again. You know what? Most of the people that are going to be using Cardano
in this context probably not going to know much about it. Not really going to care too much
about it either. They're just going to know that it does what it needs to do,
and it's going to give them access to services and and opportunities that they have
they haven't had before, and it makes your livelihood better. And I mean, in reality,
I know we want everybody to, you know, you know, buy and pump the price, and buy the JPEGs,
and participate in DeFi and all these different things, right? But in the end,
I I believe that a lot of this mass adoption will happen with most people
just not really caring about what chain it's on and just making sure that stuff works. And really,
that's what matters. That's what this does. It just makes it work for them. You know,
it's that's you bring on these two thousand two million farmers, it just works for them,
and that just scratches the surface. And you scale up, and you scale up, and you scale up, and you,
before you know it, you actually have the first blockchain ecosystem, the first blockchain
that has reached meaningful mass adoption. Like I said, big boy pants mass adoption.
So that's what it's about. That's why we support it. Yeah, and I want to add a couple of things.
And it's also to succeed in something like this, you need to have incredible team
and incredible partners. And some of them are here, you know, AI, quant, and and the foundation,
and Andamio, and Zemgate, obviously, and so you need to have that together.
And just to give one example, we spoke then about mass adoption. So our UI UX team lead is
a 25 years experience. He was one of the first guys working on ways. If you want to know ways
and how to design a scale product, is a mentor at Google Accelerator and Microsoft, and so on.
So this is the level of people that actually work in how a farmer or agri entrepreneur
can support farmers on bottom to top chain. It's not the the way we enter and and you know
more techy guys. It's really making this technology accessible for everyone, and you need
incredible team team members for that. So that's what we brought you together,
and and obviously more more will come and join. But that's kind of the the mindset behind it.
And I a little bit give the parallel of the internet. Well, remember, I mean, the first ten years
obviously was infrastructure, and and you know when early two thousand,
I remember we said we'll never put our name on the internet and we'll never pay with credit card
the internet. Right, that was kind of the And I think we we we we are there in this kind of phase,
and where the applications are now starting to happen in terms of infrastructure, legal compliance.
The internet also had a lot of issues with legal compliance back then, and payments and so on.
So I think it's going to. This is the time, basically, to to to work on that and focus on that.
And we are working on it for several years, and we feel now that in terms of infrastructure
and partners and readiness, we are ready. We you know we don't care about the price. This technology
and infrastructure can make it happen, and the price will follow. And yeah. Dan,
would you mind speaking about Zengate's role in this proposal? Sure. Also,
how does the adoption happen? Where does the technology come? Well, it's going to come from us.
That's going to we're we're we're going to be working with Five AM that Earth.
To onboard these farmers because Palmyra Pro already has this technology. Of course,
we're going to have to, you know, build out some some extra solutions that and integrate it into
Palmyra Pro to make to accommodate what this proposal does. Building out financial identities,
building out all these different modules that need to be added to it. But essentially, yeah,
we're we're going to be putting Palmyra Pro, you know, as a workhorse. For this,
so that's essentially what we do. We're gonna be gonna we're gonna be doing what we already do,
but we're just gonna you know go bigger, better, and more impactful. Yeah, and I will add to that,
Dan. They are going to help to solve two. They are going to be partner
and solve two of the problems. Right? When we again onboarding of farmers already happening,
but they have templates that they are trying in different location in Nigeria now,
different experiences. So this template can be obviously applied and their experience on
on the onboarding side, and then obviously on the traceability and E U E U L compliance side.
Woodmen International. So that's another use case that we are going to to deploy. So the two sides,
if you want, of the scope of of the five A, from the onboarding to the use case itself,
are going to to be great contributors. You know, the the timing for this is it it was almost
like it was destined. With what's going on, you know, around the world, it's no secret, right?
Current wars in the Middle East have created supply shocks. Specifically, right,
we see the biggest change around oil. Right, oil is manufactured—you know,
everything from your toothbrush and your toothpaste to the gasoline that goes in your car.
People don't realize how important this this one item is and how it's transformed in
so many different ways. And fuel, right, has a massive effect on agriculture.
They are completely tied together. And I know that right now everyone's dealing with, you know,
depending on where you are in the world. I can say from America, right?
I know if someone lives in places like Israel, you know, when I speak to my brother over there
and I tell him I'm paying 450 a gallon for gas, he laughs at me, right?
Because not only is he paying double what I pay, but he's filling up in liters, right?
So it's costing him more for less. And in a lot of parts of the world, right,
fuel prices are very high. This has a tremendous effect on agriculture. Now, and I foresee this.
Right now, we're feeling the effects of oil prices. It will take time for this to then seep into
agriculture. I know we are seeing it. I think the other day I went to the supermarket.
I was paying something like four and a half to five dollars a pound for you know yellow peppers.
I've never paid that much in my entire life. Even when COVID and all the crashes
and every craziness happened, I never paid that much for produce at the supermarket. Right,
this is gonna that that's gonna get even worse, right? Even as the wars die down
and oil starts to come down, there is still there's going to be a lingering effect.
I don't think it's fully manifested itself yet. For us to be focused on agriculture, right,
is really really important, and everyone's going to see the need for all of this technology
moving forward. Food and water are really the most important resources. Yes, oil
and fuel is important, but food and water. Are the most important. Without those two things,
there is no life. It doesn't matter how much oil you have, if if gas is under a dollar a gallon,
it means absolutely nothing if you can't put food in your stomach. It's extremely important
to be focused on this. You can't argue why there won't be mass adoption.
I can give you a million reasons why there will be mass adoption. You know,
I'm very happy to be involved in Palmyra, which is heavily focused on edible commodities. For
Five AM Earth to be well positioned in the agricultural field. Again, even more of a reason now
for the community to get behind this. If you're a human being and you live off of food and water,
this is a project for you. If you hold Cardano tokens, this is a project for you.
If you care about cryptocurrency and not just its survival, but it being able to thrive in
the real world, this proposal is for you. This is a very pivotal moment, you know,
and everything happens for a reason. Yeah, hundred percent. And I would like to add, obviously,
it touch every one of us, but it touch also directly, you know, the 500 million small
for small farm holder that it's in total a billion people. And imagine
when they are starting to to you know working stable coins and use wallet and all of that,
so that get the loans right on get loans with transparency, traceability, pay the loan.
So we are speaking about you know users that we have direct benefit for them,
improving their economics through through blockchain technology. Yeah, will have
huge impact on the people and huge impact on the chain that will that will support that.
As as as we know, right? Having a positive impact on someone's financial abilities, right?
It it changes their life. It doesn't mean that money is everything, but having access
to that capital, um, and Increase in wealth; it changes the quality of someone's life.
It is very important, and as you just mentioned, right? Something that's also huge.
If you're a Cardano token holder, right? We need more adoption, right?
To create a digital identity for you know half a million farmers, five million farmers
around the world. Okay, this is the next phase in society evolution, and I know it sounds weird,
but it's almost like the human creature on this planet needs to go to war. To force an evolution,
right? You look at every war in the last hundred years, okay, every major war. Look at
how technology is mass adopted following a major world war, and it dramatically changes the course
of human life on the planet. Every major war, there is now a new adoption of new technology
that changes the world and changes people's lives generally for the better, and. This is.
I feel like this is going to be just based on historical events and history. This is the next wave,
right? We're going through world craziness right now, and maybe there's one
or two more crazy events that will take place. But after this is the adoption, right?
Everyone is going to have a digital identity. You could fight it all you want.
You want to live off the grid, okay? Plenty of people around the world that are like that.
But that's going to change at a certain point, and not not having a digital identity
for nefarious reasons, right? Having a digital identity opens up new doors
and possibilities for you. It'll give you access to this life-changing technology. Again,
agriculture is so important. Tracking and tracing everything from farms to the products on the farms
and where those agricultural products end up, where they're shipped to around the world.
If they end up in a processing factory, if they go right to the supermarket. This is the future.
This is very important, and having that digital identity being onboarded to Cardano is something
that gives you access to this. We have a speaker, Bob. By all means, jump in. The mic is yours.
Thank you, Mister Ham and Cheese. I just want—I really want to thank you, Orem,
for reaching out to me a couple of days ago. I've—we've known each other for years. Yoram
and Daniel are two of my favorite people in the cardinal space. I've always respected
and admired the work and this orientation. I, you know, Dan referenced people's tunnel vision
a few minutes ago, and you know, and I really understand it because, like, when you
when you get into the weeds of the tech, it's it's fascinating, it's amazing, it's brilliant,
and you know, it's easy to think that that's all there is to this, but you know, like.
I was I was drawn in by the whiteboard in 2020 and tiptoed my way into the community then,
and I've always been attracted to the people in the community who whose orientation was to do
these things, not just build the tech, but to build these things. And I, you know,
the tunnel vision thing is so important in the Cardano community right now that we, you know,
that we've got to we've got to think bigger about this stuff when it comes to the treasury. I'm I'm.
I've been disturbed from the very beginning. Voltaire started, you know,
when when governance was an active thing. At the people who wanted to not spend the treasury, right?
Who wanted to make people who wanted to force the community to fight the pursekeepers
of the treasury to build these things. I mean, you know, like it's it's a cutting off your nose
to spite your face kind of thing. You know, like the treasury is not going to grow
if we don't have transactions, and. The way that transactions come is to make it accessible
without undue technological burden on the part of people like farmers in India.
There are so many gaps in our societies around the world right now that can be and should be
and hopefully will be filled by these types of of projects. You know, I I live in the southeastern
United States, and I'm surrounded. No matter what direction I drive on a country road,
I'm surrounded by people who have ten, twenty, fifty head of cattle, and you know they take
their cattle to the slaughterhouse. And do you know what happens with the hides,
the cow hides that actually make leather that people everywhere around the world use?
They are thrown away. They are literally thrown away because large tanneries won't go to
small little cattle farmers because it takes too much time. And and you know that's
a natural resource that's literally taken to garbage dumps, and I you know it's it drives me
crazy inside you know just it just twists me up in a knot to know
that that people are being you know like because in the old days people used to be paid
twenty to forty dollars per hide you know because the leather was that valuable
and there were that many tanneries around but now like everything else things have become
so centralized that these resources are just not considered worthwhile. And so,
and all I all I really wanted to do, Dan, Dan, and Yorm, is you know, like for the people who think
that this this is not worth voting for, whoever may listen to this, whoever might be here
that's actually a D rep, you know, just just to do some basic dot connecting, you know,
like the marketplace that Palomar has, the network of invest and the the partners, Syngenta,
and all of these other people that that Yorm has built the relationships for,
at every step of the way. You know, whether it's identity or or just the tracking of it,
the mechanisms for this all all of these systems to work. You know, there's there's programming,
there's there's code that lives on chain, whether it's Plutus reference scripts
or just actual the transaction code, and every time those things are used, you know,
like that requires Ada to be held on chain. Every every wallet that's opened up is going to have
multiple UTXOs, and every flippin' UTXO has to have some ADA sitting in it. This is demand.
This is demand for ADA. You know, like there was nine hundred and forty-five billion dollars,
according to CoinGecko, in twenty-four hour volume in ADA the last twenty-four hours.
That's four at this price. At this crazy price, that's four and a half billion ADA floating around,
back and forth, back and forth, and it's needed. It is needed for these farmers
and and these people that are that are building out these systems just to be able to transact.
You know, and I I don't know. You know, Dan referenced how how no crypto, including Bitcoin,
has reached mass adoption, and you know we're in the middle of a game.
This this this total market cap of crypto of a couple of trillion dollars is a drop in the bucket.
And the big guys who talk shit about crypto are the ones who are manipulating the price
because it's easy to manipulate the price, and they they want it because they know
that decentralization is coming, they know that tokenization is coming,
and if we don't start using the tokens that we own as a community to actually promote the stuff that
they are investing for, right? They are investing in us by tanking our price because they can,
and it's because they know that what is being built by people like Dan and Yoram. And Undamio
and all the people in this community, they know that the the rails are being built,
and they know that there's a new world coming, and they want to own it. Man, Bob, I gotta say,
it's very refreshing to hear someone speak directly from the heart. You know,
anyone listening right now could tell you you care. Everyone in this room,
anyone you know who's part of this. We we genuinely care. This isn't. No one's coming here saying,
"Yeah, we we want to just get rich quick." Everyone here wants to build something
and wants to see those tools create meaningful change in the world. And again,
another reason why anyone listening to this, right? These are the proposals that the community
needs to start backing. Right? We're at that point. And as you said, right?
Everyone's going to have wallets. Four billion in transactions. Right? What does that show you?
It shows you that people care. And I think right now we're seeing a a shift. Right?
Tokens are migrating. From those that don't believe in anything, right? They believe in self-service
and making themselves rich, right? And and those tokens are now flowing into the wallets of people
that truly believe in the long term, people that are passionate, people that want to see
the mass adoption. You know, a big mistake that people make in cryptocurrency is
they're not viewing tokens in the right way. People should be viewing tokens like buying stock
in a publicly traded company. Right. If someone has a project, they issue a token. Okay,
I'm buying those tokens. It's the same as I'm buying stock. Okay, I think it's important
that any project that is issuing tokens, right, needs to have a path. Where revenue is generated for
the token holder. Specifically, when it comes to Palmyra, okay, from the beginning there was
a rebate system that was discussed, which would act in such a way where think of it
like a stock buyback. Okay, the company has products, the products are producing profit.
A portion of those profits are used to buy back the token on the open market.
I know that there are a few other projects that do something similar to this. Okay,
but I'd say 99.9% of crypto projects don't do this. Would you ever invest?
Someone should ask themselves: Would you ever buy stock in a company that one doesn't have
a product? Two, there is no way for the stock price to increase other than someone else buying
the stock, right? There is no outside power that will create an increase in value
for your investment, right? There needs to be a vehicle that could achieve that,
and this is something that again I've gotten a lot of heat over this from day one,
where I said there is no vehicle. For Bitcoin to increase in value, other than someone else buying
more Bitcoin, there is no product, right? Bitcoin was a great idea, okay,
a way to get rid of the banks, cut out Western Union, let people be able to send money quickly
to other parts of the world, and any of the fees go back into the ecosystem, right?
It's not like a fee is collected by a bank for a transaction. The CEO of the bank is paid, the CFO,
the CTO, the receptionist, right? Everyone is paid from that, and that money now leaves
that ecosystem. And Bitcoin had a great idea from its inception. However, when the mass adoption
or close to mass adoption actually happened, everybody completely lost sight of
why Bitcoin was created and what it was created for. Right now, it's used. Oh well,
there's a small amount. I'm going to hoard all of it, and then it's going to be valuable. Well,
if no one's using it, who gives a shit? Who cares if Michael Saylor has all the Bitcoin?
If no one is using it for transactions, then it's worthless. And I even say, you know,
move liquidity from Bitcoin into Cardano and into projects like this. Where there's utility,
you know, I I think I look at it a little bit different. You know, for me,
I really look at things like the Palm token and ADA as commodities. Right, you have to have it.
You have to have it to use the system. You have to have it, and so you know that makes that makes
the burn thing, the burn mechanism that that Palmira has so so interesting,
and and something that over time is really going to have a huge impact on people who hold it,
as as as much as this with ADA, you know, which Doesn't need you know doesn't have a burn mechanism,
but there is a growing and an ever-growing and greater need to have the ADA just to be
able to function, right? Like I said, you've got to have ADA sitting on a UTXO, right?
And and so this this this growth in large scale, I mean, really large scale usage,
like five five AM Earth and Palmyra, you know, I mean, it's it's. That's the the huge multiple
that that we have as an opportunity, and and I I may have the name Archangel Bob,
but I'm I have no foundation for being holier than thou about this
because I wanted to get rich quick. I underestimated the the depth and the amount of time
and engineering that that you know is required to do all of these things in 2020. But that hasn't,
you know, the fact that it's taken taking a long time doesn't dissuade me from the fact that this is
the most realistic thing that I see to actually do the best, the most good in this world, you know,
because I I understand the value of decentralization because over twenty
or thirty years I slowly began to realize. The disservice centralization does to every human being
on the planet. You know, like I'm right now. I'm working with a bunch of guys in their twenties.
You know, I'm 65, and I'm I'm unloading trucks with a bunch of 20 somethings.
And these guys are are beautiful kids. I mean, they're just they're beautiful,
and they are beautiful at the same time. They are just bitter and cynical as shit.
They are aware as than I ever was. They're more aware than I ever was in my 20s,
and ignorant beyond belief. You know, because of these centralized systems that they've grown up in,
and I, I live in this conundrum of, you know, feeling both these things, you know,
both sides of their existence, and you know, my heart aches for them. I,
I want them to have a better future than what they see for themselves. You know, I'm,
I'm just passing through there because I need this cash flow right now,
but these guys' lives depend on this. You know, like I, I don't know how they fucking live.
You know, like I'm, my wife and I, we're for, you know, we own our home, we own our cars. You know,
these guys don't. You know they're living with their parents, or they're living at a, you know,
I mean it's tough. I mean, you know, it's not a lot of money, and you know it's only things
like this that are going to change their possibilities in the future. Yeah, you know what?
I actually, I think you kind of touched on a really important point, and I see this actually with,
well, you know, I mean, I have I have some people working for me also in their twenties
and their thirties, and I mean, you know, I got really smart people working for me,
but they also kind of talk about these things about how well. You know, back in the old days,
you could do this, but now you can do that. And I see, like, you know,
Zoomers talk about this all the time. Even millennials talk about it, saying, you know, you know,
the price of homes is too expensive. The price of this is too expensive. You know,
my parents could do this, I couldn't do this. You know, we're we're getting, we're being, you know,
we're being kind of cornered into this, uh, like you know, dire financial situation. There's,
it's not sustainable. And look, I mean, I don't know if times times are necessarily tough.
They're just different. You know, it's just a different world out there. And really, it goes back to
how do we create the opportunity for people to make that decision to take advantage
of that opportunity? And like, and that's what this does. This would that's what this proposal does.
It it it creates that opportunity because you know I myself I always had a problem with the saying
of leveling the playing field because it sounds kind of communist to me,
and I grew up under communism, so I really, really, really dislike it. So. My my sense tells me,
you know, instead of leveling playing fields, how about we just give equal access to opportunity,
or at least strive to give equal access to opportunity, and then like like give people the choice
to take that opportunity or not. And yeah, and so when you when you give farmers access
to financial instruments, when you give farmers access to credibility, right,
using on chain products. It creates that opportunity, and that's what this proposal does, right? So,
and it does it for millions of farmers, and you know, and I guess you know,
like some some kid working with you in the U.S. Might say, "What does it have to do with me?" Well.
It will. I mean this. This has this kind of stuff has has has a network effect. I mean, it will.
Yeah. I mean, you know, the internet. The internet was the World Wide Web was used to be
a closed government system back in the late sixties, and now we're all on it.
We're talking on it right now, so it will affect you. And it just has to start somewhere. Yeah,
you know, and this is you know, like I, I do, I really try to engage these guys in conversation.
You know, and and it's it's really interesting. You know, the the. You know,
this this is what bothers me about the cynicism, and I understand why they're cynical. You know,
I I was very different in my twenties because there was just I was living in New York City
and I didn't under I was I had just a most amazing job, you know, for the at the time I was
I was working as a photographer at Christie's auction house, right when the auction world
was going gaga over impressionist paintings, and I was just. Overjoyed to be in that situation
to to get to handle these works of art and these these old old things and you know like this company
giving me all this equipment for free to work with and all the other photographers I worked with
they were fucking cynical they just they just you know they did not recognize the uniqueness
of their own job because you know Christie's was getting rich and they weren't and you know
and I'm like you fucking numbnuts I mean you're like what's wrong with you
of course somebody's making money that wasn't even the point to me. The point
to me was to actually be there and and to have access to the tools and to to just improve
my own awareness of these things that are you know our our our lives are built on our history
you know and and so in that situation I I had the conscious thought when I realized why are
these guys always complaining and I was like they're cynical you know and I'm
and it just it just clicked a really deep switch inside of me to not be cynical and so what
I see now with these guys is I got into this because, you know, I was 59.
The the winter COVID happened, you know, and I had always told myself I'm gonna I'm gonna make money
for myself later. My life has always been I wanted it to be interesting to me,
and so I did things that were interesting for different reasons at different points in my life,
and I didn't worry about money. And so when COVID was hitting, I was it was I was 59,
and I realized. Oh shit! This is later. I need to make some money, and I started looking around
at financials because I knew that over time, the course of my life, I had I knew about Microsoft
and Apple in 1981 because I was working in the computer industry then, and I didn't invest,
and I paid attention to news, and I knew in the early 90s this is a good time to buy Apple.
Where I knew in the late 90s this is a good time to buy Amazon, and I didn't do it
because I was trying to make my life interesting. And worrying about money was not interesting
to me. And Bob, you you just I started cut you. You just said something that's
so incredibly important and and a recurring theme that you know I've picked up on amongst people
that hold tokens in very specific projects, right? People that have unwavering conviction
in the project, as like what you just said, they lived through it. They saw
certain pieces of technology, and at the time, they knew the importance
and and the usefulness of the technology, the mass adoption of the technology
because of the way it would change people's lives, right? And at the time when that technology
is new, there is a certain level of fear and doubt, even though deep down inside you know the truth,
you could see it, but it's hard to. To make that investment, to take that leap, right,
and then you sit back, and what happens over time, right? You're like, wow,
I could have bought this in the '90s, this in the '80s, I'd be a multi-millionaire,
maybe billionaire. And I think now, when it comes to crypto, and again, in very specific projects,
I would say less than ten projects, that same thought is there, right? People see the tech,
people like you that have seen the tech that we currently use every single day, and they see, hey,
this is it, this is that next thing. There's going to be mass adoption.
It's so hard to be able to have that faith, right in in humanity. I'm not going to say it's faith
in God, right? It's faith in humanity, where you say, "Hey, this is this is it, right?
" And I know that it's going to be adopted, right? Will human beings be smart enough to to do it?
How fast will they do it? Right, so will I put my money in now? And I see a lot of people,
and it's the same people. And you know, I turned forty this year, so I'm kind of in the middle.
This wouldn't be an ageism thing, but people who are older in the crypto space are
significantly more patient when it comes to their investments. Right, they're not;
they haven't been buying and selling, buying and selling. Right, we talk about four billion tokens
in transaction. Right, what does that mean? That means there's a lot of people buying, selling,
buying, selling, buying, selling. They can't make up their mind right now.
It's great for the treasury, right? It's increasing fees, so the treasury is being built up.
But those people that have just been holding and adding, they understand the technology. They know,
especially when it comes to agriculture and commodity-related technology,
the world has to move in this direction. If we have another COVID, okay,
the technology that Five AM Earth and Paul Myra are bringing to the ecosystem—these are
crucial pieces of technology when it comes to agriculture. I don't think if there's
another COVID-type event, the shock, the supply shock. Will be ten to twenty times worse.
I don't think it's going to get better, right? That's unless this technology is implemented
and mass adopted. People will not be able to navigate again. It wasn't like there was
a massive storm and infrastructure was rebuilt in such a way that it could withstand a storm, right?
You go to certain places like New Orleans. They had Katrina, okay, and a lot of areas in America
and around the world. I know in Southeast Asia, right, places where there are monsoons,
homes are built right on on these huge piles or stilts, pretty much. Okay,
you're not going to keep building a home on the ground floor when it could easily be washed away.
Over time, you learn, you adapt, you build your homes to be able to survive these storms.
This is that technology to help us survive future storms. Anyone who's listening right now,
if you're a D rep, you're a large holder. This is the path forward, and I'm not saying this
because this is going to pump a token or anything. This is the survival of the ecosystem.
This is the survival of the technology. Cardano is great technology. Cryptocurrency is
great technology. But here we have the use cases where it's truly going to benefit the world.
It's going to make serious change. And in regards to the younger generation not knowing,
we have an obligation to educate. You know, I know that there's been catalyst proposals
and treasury proposals that have gone through in regards to education. You know,
while we're having this conversation, I'm thinking to myself, why aren't there groups of people?
Even I'll take my own home, my my own city of New York City. Why don't we have an organization
that is going once a week to every New York City public school? Okay, handing out
or teaching these kids how to create a wallet, teaching them the importance of security.
Never give your seed phrase. Anyone who does support, never give them your seed phrase. Right?
Teaching the younger generation the basics of cryptocurrency, what it does, what it could do,
how to safeguard yourself. Okay, that now creates a whole new generation of users.
In addition to that, those are the people that will carry the torch into fully assimilating
this technology into everyday life. We have a serious obligation here.
This is a project that will change the world. And again, if you're a token holder
and all you care about is generating revenue, okay, guess what? This is also for you.
This will also generate revenue as a Cardano token holder. And again, I say I stress this,
and I can't stress it more. This and future proposals will now be setting the precedent for
if you want treasury money. And this is important because this is this is ongoing right now. Right?
People have voted against. Extra spending on on Cardano related events.
I understand people's reasoning and logic behind it. People are upset, right?
How many times can you cheat on me, and I'm going to stay in a relationship with you, right?
This is kind of how people feel. How many times am I going to let you abuse me,
take advantage of me, line your pockets with projects that never finish, right?
They never finish because a certain generation doesn't understand the sacrifices. Okay,
I could speak from my own experience, and I'm sure there's a lot of people in this space right now.
It is depressing when you start a new business. It takes years. Okay, and when that happens,
you may see your friends going out and partying, going to clubs, having fun, buying
expensive things, and you're there putting every penny back into the business. It hurts.
It emotionally hurts you. It takes a physical toll, right? That mental anguish,
it manifests itself in a physical way. People start to get rashes. You break out,
and and you wonder what the hell is going on to me. It it is emotional pain which translates into
physical pain when you sacrifice. For something you believe in, when you're starting a business,
it takes years. Me personally, it took me five years before I was able to take any money out
of my business. I didn't have money to go on a date. I watched all my friends getting married,
watched all my friends going out and having fun, and I kept telling myself, "This is temporary.
This is temporary. This is not always going to be like this." And then when you finally step out
of that tunnel, it's not just seeing the light. When you actually step out of the tunnel.
You breathe for the first time. Think of it like you know, out of the scene
from Shawshank Redemption, right, where he crawls out of the sewer and the rain's hitting his face.
That's the feeling, and it takes time. And not everyone has that conviction.
And we see this with projects. Guys take treasury funds, right? It looks
like they're building something, and the second the the market turns sour, that's it. Everyone goes
dead silence, cuts off communication, people disappear. Maybe a couple years later,
they come back with a new shiny project where they want funding for, and I get it.
Everybody in the Cardano ecosystem is sick of it. How many times you're going to cheat on me?
How many times are you going to abuse me? Where I stay in this relationship?
And we're seeing this reflected right now in the token price. And I'm saying, okay,
we're putting our foot down. Moving forward, all the proposals are like this:
the ZenGate five five AM dot Earth proposal. There has to be a path for return for the community.
We have to be making change. There has to be real use of the technology. Here it is.
This is now being handed on a silver platter for the entire ecosystem to see.
This is the litmus test. Right here. Um, you know, you actually, uh, you actually touched on
something else, and I think actually it's important for maybe even Yoram to really elaborate on this
because, um, so some of the critique that I've seen is, and and it's legitimate critique, right?
Because you want this is, um, so you know, how do we know? How can we measure performance, right?
How can we measure the KPIs? Um, how do we measure success? And you know, because people are saying,
"Well, you know, you you have too much money being unlocked right away. What does it do?
Where does it go? It's too risky." And really, I think it's actually a it it's a point
that needs to be clarified, very kind of you know, just really kind of spoken about directly.
All of the the entire proposal is milestone gated. And that's, I mean, that's by design,
and and maybe Yoram, why don't you why don't you talk about that a little bit,
the the the milestone, like the the way the way milestones were made up in this proposal.
I will start. It's a it's a very good question and very good point. And I will start before saying,
okay, so we have a proposal, the Fund Thirteen proposal that we did to kind of initiate
this bigger project. Like we're working for a few years, we did small small pilots,
and then a big one with Singenta. To get 100,000 farmers involved, but what happened
since it got funded to to today? We know that Eda price went down a little bit, right, by 60-70%.
And a lot of the commitments we have is you know in the fields, it's commitments in dollars.
So we just to to say at the beginning we assumed this cost. We're basically working at a loss in
the last two years, making sure we are delivering this proposal very highly successful,
and we are on track as promised to 100,000 farmers by. So just wanted to give it as an intro,
and so the importance of of the 10 million data first of all is because we want to do things
at scale as we mentioned to play in the big big guys, and because we are ready for that,
we are working it for several years, and we are ready for that.
The initial five million is basically or let's say half half of the amount
of money is going to be used to onboard the farmers, farmers,
and for the satellite trust layer information, which is key importance of the trust layer.
And as I mentioned, we are getting it actually at a fraction of the price because most
of the funding of the onboarding of the farmer is financed by big brands. I mentioned Coca-Cola,
and I will be able to to say that the big brands are going to be related to this project shortly.
But it at the scale of Coca-Cola. So, so, so, but we need we need to have this big chunk in order
to guarantee whatever happens with the price that we can actually onboard this farmer
without taking money from the pockets again. And and and onboard the 500,000 farmers
and create a trust layer information in a good way. So that's why we asked for the first amount,
which is relatively 50% of the amount. All the other milestones have fully gated by transaction.
So onboarding the first 100,000 farmers, onboarding the opening the foundation itself,
which is a key element in the in the in the first in milestone. Then going from milestone two
to milestone three, as again it's all gated by transaction and by number
of farmers we are onboarding. So. Yeah, so that's kind of the reasoning behind that.
We needed one to guarantee the full scale of the project. We take the risk on the enterprise.
I mean, for all the internal work and infrastructure work and all of that. And but the
but the external costs have to be somehow guaranteed. So that's if it answers your question
or you want more details, happy to share. But most of the amount of money going into again
onboarding the farmer, we need the trust layer, the infrastructure layer, which is important,
infrastructure of the trust layer, and then to the business application.
Very small amount is going to actually manage the project. It's fractional of a normal cost,
and and then we have some phase of the administration and audit by Intersect.
That's really the full. Is that it? Was clear? There are some questions about it.
Does that make sense? Now makes perfect sense. Again, I say this project
is really going to start setting the precedent moving forward, especially with you know
all the politics currently going on in Cardano and people really voicing their opinions
on social media. Right, setting milestones are important. This. Will stop projects
from just taking money, cashing out funds, lining their pockets, right, and never delivering.
This is showing accountability to the community. That is a very important word
that has not existed in Cardano for a very long time. Accountability.
This is showing accountability, and it shows a path for revenue for the Cardano token holders.
I really want to stress this to everyone listening. And for the accountability, we really, I mean,
we are working basically to deliver on the promise. I know some some fundraising projects
kind of gave up on. We didn't give up on this project. We are not here for this, you know,
just to make the project. We are here to make what we are doing a success. And even if now, okay,
you know, we we basically, um, yeah, basically work at at a loss if we want to put it like that.
We're focusing on on what we want to achieve and the next steps, and and we are delivering as
promised and even more. And yeah, I mean, just to to mention that and the
and the level of partners coming into the next phase. Just check them out, please. Go through them,
read the level of partners, the network of these partners. It's a world class partner. Yeah.
This is actually so. These two things are very important. I think that's all
because also some questions that we've received that I think is very very important
for for us to really you know identify and speak on. Well, first of all, the partner list,
and this is something somebody asked me about. That's a valid you know valid question.
You cannot do this without a you know partnerships with with major players with governments and.
You know, basically, you know, people already have boots on the ground.
People who understand the landscape in which you're operating, and the, I mean,
the point is that these relationships exist between between Five AM, that Earth, between Zengate.
You know that that's how we work. We work through these relationships. So these relation,
we already have these relationships, right? So these relationships exist,
and we we clearly understand that that's how you're supposed to do it. This is and this is the plan,
uh, to to to do it that way. And I think the other part really is to really kind of emphasize on is
that this is not a concept saying that well, if you give us this, we're gonna start.
We're gonna try to onboard these farmers. This is a continuation of what you've already been doing,
Yoram. You know, so so you can show, you can show you already did it. There is an app you can show
the results on chain, and then you can say, "Okay, now you see what we did here.
" Now multiply this by X, and that's when you get the when you get the impact
that is going to have on Cardano. And I mean that that that's it. You know that's
where these transactions will happen. Then that that's how the that's how the Cardano will benefit
because what is already being done, what's already can be shown on chain,
will only be amplified exponentially and and and and and and create value for the chain. 100%.
And please, please follow Ban obviously, and also Alex. And you will see in Alex,
there's a lot of videos and information being shared about the project
and what's happening on the ground. And I want just to mention one partner. I mean, the World Bank
okay, it's big enough. But I mentioned Seedstars. If you check out the track record of this company,
I mean, all the microfinance companies, multi-billion-dollar companies, Blue Orchard Sustainability,
all of them are related to this company, either investors or board members in this company.
They structured 61 deals of hundreds of millions of dollars in emerging market
for financial instruments. Their network; they are now with Mastercards
and other partners of the structure industry. So this is the type of partner
that we are concretely working on to facilitate finance and financial structures from external money
coming to Cardano, basically, to support, not to support, to provide microfinance to farmers.
And obviously, after this use case, we can see that there is the high possibility to scale
that just with this partner alone. So check it. There is a post also about them that we shared.
Happy to share more information, but. It's very very strong partners that understand,
and we want to prove with them. Just to give this example, how we can take down microfinance
from 25-30% today in India to around 10%, because we use a trust layer of information with scale,
and we reduce many intermediates in the middle. And so you can imagine, if we're able to do that,
we can then scale the amount quite rapidly, and take a percentage from that for us to finance
the ongoing growth. I mean, we we will not need to go back to the treasury afterwards.
The growth will be facilitated then from this business application, the further growth.
That's that's a very a very key takeaway here. I think people should really be listening to what
Yoram just said. Right, the idea is that we reach that point of success
and profitability where we never have to go back to the treasury again. Right, this is.
A big misconception in Cardano, and I don't know if it's the way it was explained to people
in the beginning. People should have a very clear understanding of what the Cardano Treasury is.
Okay, it's not sitting there with a billion U.S. Dollars in a bank account, right?
The Cardano Treasury is holding Cardano. Okay, every time there's a treasury withdrawal. Okay,
if there is no fiat coming back into Cardano from the real world, that is a net loss for everybody.
This is why, again, I'm going to stress: we need as a community. To only invest in projects
that are requesting a treasury withdrawal, where there is a path for fiat currency to replace
those tokens that were taken out of the treasury. Every time there's a treasury withdrawal,
we are investing in something. There should be profit in the return. We have spent years
withdrawing from the treasury without putting anything back. The only thing that's been feeding back
into the treasury, okay, has been fees, transaction fees. We're losing money.
You're taking money out of the treasury, and the only way we're refilling it is by taking money
again out of our own pockets. That's bad math. That's really bad math
from an investment perspective. You're a dead company, right? If this was publicly traded,
we'd be out of business. Okay, people need to wake up for this. Any time we're taking money out
of the treasury now. One, there needs to be a path where it's not going to be a constant forever
for eternity that we're taking money out of the treasury for that project. Two,
the project has to have a way to generate revenue for the treasury again to replenish those tokens.
If you're a Cardano token holder, this is this is basic investing finance. Okay,
if you're going to take out, we have to have a path to put back in. So anyone listening right now,
if you're holding Ada, you're a D rep. Think like let that sink in. For any past project
you've ever voted on, right? Where was the path for the money to be put back into the revenue?
Think of it almost like paying it back. And instead, it's over time, okay,
in various different means. Having said that, anyone that's in here right now,
if you have any questions for Dan, for Yoram, for the team, you know, about the proposal,
about the projects, anything that was maybe confusing. This is the time.
The space has been going for an hour and a half. I know for most spaces that's not normal.
A lot of people took a lot of time out of their day to make sure that the community heard about
this. You know, anyone who listens in on Cardano over coffee spaces ever, right?
This is generally not the path that that average type space that gets a lot of listeners. You know,
a lot of it's bullshit all the time. It's fluff, lovey dovey. Everyone's happy. This and that.
This is a pure. You know, space. We're we're giving over pure information.
There's no bullshit behind us. There's no scam. There is no. Well, I'm filling up my morning coffee
and I'm doing this while the ADA price is tanking. These are guys in the space right now
who are spending all of their time. Most of them operating right, using their own money,
putting it back in, and just killing themselves over this. They spent a lot of time.
They care about this. They want to see this happen. You know, so this is a rare opportunity
for anyone to have access to these individuals right now in a space like this. So,
if you have questions about the proposal, you know, put in a request. No one here is shying away
from it. It's full transparency. I think is really, really important. Again,
a new concept that has to be introduced to the ecosystem. We're setting the precedent
moving forward now. This is it. Every project. This is it. Full transparency.
A path for return on investment, and the benefits to the community and the benefits
to the real world. You know, cryptocurrency is in the real world. It's separate.
It lives in the real world. It can live in the real world if once once there's
that full mass adoption. Here's the utility. Here is our path for real world adoption.
It's it's that simple. We do this, or we watch us continue to fade lower.
It's about time everybody grows up. We treat this like a real business.
We all wanna we all we want to change the world, and we also would like to make money
at the same time. There is a Perfect balance between the two, or maybe an attempt
at a perfect balance. But we need to have a balance, and this is the path.
This is the new path for Cardano. If we want to see the ecosystem thrive, this is it. And that's it.
You guys want to any any ending notes? If no one wants to ask any questions, Dan and Yoram,
you know, give a final. Yeah, I mean, you you finish with the perfect balance. So eventually,
blockchain technology brings value to decentralized people, right? All of us,
and that that's the promise, right? On our identity, on our Financial and and that's what
we are doing basically with with this project eventually, right? The farmers are going to own
their identity. Already integrated, by the way, Veridian. There's a lot of things
happening there as well. But the land will have an identity, and they're going to be
able to control better their finance and have better benefits. So, this proposal,
if please read it through and see the videos, it brings, I think, a path for adoption,
a vertical approach, path for adoption. Where we are going to specifically onboard 500,000 farmers,
two million transactions, two million million loans, six different tracks using
different Cardano technologies, three incredible strong partners to this, including obviously
the the World Bank, that are important for this proposal, and world class enterprises, you know,
from the Indianta foundations, Indianta, the World Bank, Citibank, and it's just the beginning.
It's really just the beginning. So it's a path for adoption, something we really need.
And I really ask the D-RAPS to consider within all the important proposal,
and every proposal is very important, to also allocate budget for concrete adoption
and support the best adoption projects, not only important info. That's really the ask, and yeah,
very optimistic about what's coming. And thank you all for being here and listening,
and all the support we are getting incredible support from the ecosystem.
And we really encourage everyone to read more, ask more questions,
and hopefully we can convince people to support the important proposal. Yeah, it it is important.
I mean, like I said, we're supporting this proposal because it hits us right
in our first principle fields. It it it just, I mean, this is what Cardano is about for us
as a team, and that that that's why we felt we you know we want to be involved in this. Um,
this is a great opportunity for Paul Meyer as well. Um, because that's what we do. You know,
it's the kind of The kind of people we work with. This is real mass adoption,
or at least the first real step towards mass adoption, and I just believe is going to have
a network effect. So, yeah, I think you were on said it best. Please check out the proposal. Also,
we're you know we're always open for questions. Yoram, myself, anybody who's associated with
this proposal, ask questions. You know, don't don't don't think that like. Don't make a decision
and then ask questions. You know, ask questions and make a and then make a decision. We're here
and please, so just feel free and yeah. I think you know I'm doing a JJ Abrams for with this
with this monologue. You know, I started off strong, but now I don't know how to finish it. Anyway,
why don't you take care of that for me, Neil? You did great. Done. Thank you very much, really,
for hosting and. Great hosts, and hopefully we provided good information to everyone. Thank you.
Any time. Thank you, everyone, for for joining again. I hope this was very informative.
As the guys stated, right, they're accessible. This isn't like you're you buy stuff on Amazon
and you can't reach Jeff Bezos, right? These are real people. You could reach out to them
if you have any questions, concerns, especially if you're a D rep, you're looking to vote,
you're looking to hold tokens in any way. You could reach out to people. We don't shy away, right?
We'll answer the tough questions, the uncomfortable questions, which at times there are a lot
of uncomfortable questions. But we're adults, and you have to ask these things,
and it's important that we, you know, we have an open dialogue about this, constructive dialogue.
You know, spaces like this give me hope, a renewed sense of hope in the community
that we could all get together and really focus and put our efforts into the projects
with the most positive outcomes for everybody, not just a select few, but everybody
within the ecosystem as well as the outside world as well. So thank you, everybody, so much.
Any questions? You know, reach out to everyone.
Hope everyone has an amazing week. Thank you very much.
