Guy Zyskind on privacy solutions and Secret Network

0:00i am ashton addison from block west capital for investment pitch media and the crypto coin show and today on blockchain interviews we have guy ziskind ceo and founder of secret labs guy welcome to the show and thank you so much for taking the time to come on today of course thank you for having me you're very welcome there's a lot to dive into with secret labs and secret

0:22network uh special nfts play to mint let's just dive straight into it from you to kick us off with an overview of secret labs your team's focus and then we'll dive into all those details sure sure so secret labs is the company uh behind secret network um you know very much like ethereum foundation for ethereum we're at the con where the driving force behind secret

0:48network which is a blockchain with smart contracts but they have a twist essentially all data on secret network is private by default so you can do things in secret network that you can't do on other networks for example you can have um voting on secret network but where you over the votes are confidential so you don't know who's voting for what um you

1:17know you can have private transactions um if that's what you want and you can have something like uh secret you can have many other things but one thing that we're seeing a lot is the use of secret entities so with the nfts in general you know one of the most common jokes are that uh it's true maybe you own an nft but i can right click and save your nft content in

1:42mind as well so with secret with secret nfts the idea is that um there could also be alongside the public metadata there could also be a private metadata component that only the owner has access to and for everyone else it's encrypted and they can't see it wow incredible yeah i've been looking for more privacy based alternative networks because there are a lot of

2:10i don't know if you could call them flaws but uh there's vulnerabilities in a lot of the layer one protocols and as they're continuing to be built up um so from what i understand secret network has a lot of privacy functions as you mentioned the nfts there as well is it so to say comparable to layer one protocols like ethereum where it has smart contracts it has dows it

2:33has uh nfts as you mentioned everything that a a blockchain network would normally have as well yeah it's very much similar it's a it's an l1 blockchain with four smart contracts capabilities um it has some benefits so it's part of the cosmos ecosystem uh which basically is very interoperable with other chains so moving between secret to any other cosmos chain is

3:02fairly trivial and also you know cosmos chain and secret included they are proof of stake not proof of work they generally have faster consensus and better performance so they have some other benefits as well very cool and i know this this is a big project um i recently saw that uh the network raised over 400 million dollars for the latest round of fundraising so first of all

3:29congratulations to secret on that that's incredible and i'd love to know if you have any more information surrounding the raise on that network in terms of the partners and the use of capital and what's that going to go towards sure so um all of it um all of that we call it the ecosystem fund all of that it's collaboration with about 25 leading um funds in the in the

3:57crypto space and the goal here is basically to give a lot of boost to the secret ecosystem so it's basically a statement saying hey if you're building a secret network there are some serious funding opportunities to help you both get started um and also to you know get to like later stages the fund itself is split into two portions

4:24about half is dedicated towards grants and the idea is that grants are usually like first money it's like you know 50 to 150 um thousand dollars checks and the idea is this is first money build your mvp get some guidance and then you can use that to release get some user requisition and go for a full fundraising and that's really the second part of the fund the second part is

4:52really for like more mature projects whether it's seeds if you say token equity whatever or beyond you can draw from the fund so all of that 400 million dollars that's not meant to supply our our operations we did raise a good amount otherwise or we're not guest prep but it's really meant to focus on other people building on our network and give them the support

5:19very cool and yeah it's great to expand the ecosystem and i'm curious on what kind of startups are building on secret network and with secret labs help is it mainly defy applications or like other decentralized applications so there are i'd say three categories one of them is d5 the other is nfts gaming mechaverse those two are like you know all of the

5:47rage in terms of like crypto right now and then there's like more forward-looking applications many of them are only um available on secret network um i think that's that's that's that's harder because the market isn't used to them but we're already seeing a lot of traction in them so i'm going to start with the like kind of like the the the third category because that's

6:10something that most people don't know so we have applications like alter alter is basically a decentralized um end-to-end encrypted messaging protocol so it's kind of like a mix between signal and protomail but it's completely decentralized um can be shut down so that's that's a really innovative product and then there's jackal jackal is an encrypted

6:38um decentralized file sharing system build on secret and and file code together and basically the idea is that their first go-to-market um angel is essentially to allow um um journalists and sources you know let's say from like war zones like let's say people people in in russia maybe they want to share information securely with journalists outside of russia so they would be able

7:06to do that on that platform without like you know ideally with them reducing the risk that they would pose to themselves so that's a really interesting use case another one is a computational medical medical data platform so there's actually a couple of um computational biology phds who are building a platform that allows

7:32people to share medical data together encrypted and then for researchers to use that data without actually seeing it um in all kinds of research so i'd say those are like you know end game kind of stuff that's where like what blockchain really excites me about um but other than that you have the usual suspects so you have a lot of games and nft platforms

7:52that are building on secret most of them are using the privacy and guild on some on some form of another then you have b5 applications like um secret swap and and hydro and sienna which are building um let's say front running resistant um lending protocols and amms and all kind of like default projects and um that's i think that that covers there's

8:20dozens of projects yeah that's incredible and i'm glad that you first mentioned the messaging platform i did see on the twitter there's a link right at the top to the messenger and i feel like i'm speaking for many people in in the blockchain industry where they're fed up of using a messaging platform owned by the technocracy or you know that has um

8:44censorship and what you can and can't say and there's no real good alternatives to messaging platforms and secret messaging platforms um so that does look really promising i will check that out and um and i think those are the the cat that category that you mentioned first of the really forward-looking applications are the ones i'm most excited for because i feel like those

9:06are the applications that people that aren't in finance or every day are going to eventually start using and that will be when blockchain becomes mainstream those are the everyday applications so i'm really looking forward to that on the nft side as well uh you mentioned about the secret nfts and how they have specific competitive advantages a lot of people are getting into nfts um

9:31and getting into crypto for the first time through nfts you know artists and collectors and there's so many different access functionality that you can put into nfts maybe we can talk a little bit more about the secret network nfts and what your team has up your sleeve in that regard so secret network nfd is i think we're just like starting to see the benefits

9:54um super 10fts are are relatively new they've been out for three months we've already had dozens if not hundreds of nft drops um there's a platform called there's a marketplace that's done millions in volume in second day volumes like like uh it's called stash and many of the successful meets have been completely sold out like setting for six or seven figures

10:19it's really really vibrant and many of them are using secret nft capabilities in really interesting ways i think one of the most interesting projects that we actually use secret labs worked on directly because it was interesting was the quentin tarantino collaboration so quentin basically quentin was really skeptical of nfts he he actually said that he doesn't see the value of nfts if

10:43everyone can write he didn't say right click save but he said if everyone can see it and copy what's the point and we told him about our technology where he can basically release content from himself that only the owner would get to see that's when it clicked and that's when we decided to work together and what we did was cool like he took he took um

11:06the original pulp fiction screenplay which is handwritten he's never showed it to anyone in his private library it has a lot of like markdowns and comments and all kinds of like goodies that hasn't been in the full movie and he basically took that digitizing recorded themselves giving like unique unique content about the movie that people don't know and we saw that um and

11:32and we made that into nfts and that to me was really like you know the power a showcase of the power of secret entities and i think that's what made us realize that that and everything else happened in secret made us secret labs realized that well secret nfts have a lot of value a lot more value than what nfps today provide and we said okay let's build a new kind of nft platform now we

11:59didn't want to build a marketplace that exists and we wanted to build something new that's much more interesting so we built that nft platform into something that is like own universe basically it's kind of like a game which is why we call it the play to mean nft platform and the idea essentially is that every user would start with a level one avatar and

12:24they would the way they would interact with means is that they would buy random loot boxes and those loot boxes sometimes they would have um you know really interesting nft drops like tarantino like um pfp projects um we're really focusing on the blue cheap kind of like nfd uh um drops not like not like garbage and everything like

12:50we're really trying to get the best content to that platform so you you meet the loot box you might get something cool or you actually might get equipment for your character and that equipment helps you level up and gain experience and your character grows eight it's gonna look cooler but b the stronger your character becomes the more likely you are to get better

13:14and better means or access to means so there's a stickiness component in that platform that really makes user kind of want to stay and continue playing the game um and and better and better means very cool i like it guy thanks for explaining that and that's super cool about the quentin tarantino secret nfts with the original screenplay i really want to learn more about that

13:40and just about secret nfts overall and how regular viewers and nft holders from you know ethereum nfts can start getting involved with secret nfts you know is there uh an easy minting platform for everyday people to start minting it or how else can people get involved with the secret nfts so there there's two ways first of all like if we take the tarantino example

14:07we've built it as an ethereum nft and whoever whomever bought it um they couldn't like they there was like a whole ui a whole web application application that kind of walk you through how you move through the bridge get to secret network to actually see the exclusive content so we've built a bridge and we're actually working with xp network in others to build more

14:31bridges and the idea is that you know it's not going to matter when will your nft originate eventually you're going to be able to buy on ethereum solana and or whatever and then if there's exclusive like uh if there's a secret private part for the nft then through some bridge you would be able to party to secret and see the exclusive content also

14:57um vice versa legend out the platformer just mentioned essentially it's going to be allow you to meet secret entities with all their goodies but then if you want to then take them and sell their secondary markets those same bridges would allow you to move back to ethereum or other platforms or you can stay on secret and use stash which is secret marketplace so it's up to the

15:22user um and finally secret secret and all of cosmos use uh kepler wallet or some other words but kepler is the most well known wallet it's super easy it's super simple it's been built it's been built very much like metamask so if you use metamouse it's going to be very very easy and intuitive for you and i would even say that it's better and more streamlined because you know it's

15:49it's brand new and they had the ability to learn from past mistakes very cool thanks for explaining that and yeah i've heard from the cosmos ecosystem and the influencers that kepler wallet works really well and i'm seeing a trend through the crypto coin show as well of cosmos projects coming on and just having great fundamental value and i can say the same for this as well um so

16:13that's super cool and now guy we don't have a lot of time left but for the viewers that want to learn more about all of the faucets of secret network that that we've talked about and get involved with the nfts and and early dapps what is the best way for people to learn more and to get involved so several ways the i'd say the the best first place is

16:36go to scrt so it's secret but without ease that network that's the network's website it has so much information for developers for users there's the secret agent program that you can join if you want to contribute mob there's the secret network discord and twitter and blog and all the channels where you get so much information people are super friendly

17:00you can come in and ask questions that's on secret network you can follow me i try to provide good content about secret so that's uh guys is on twitter and finally um if you really want to get the secret nfc experience and kind of see things like quentin tarantino then you should follow legend dao so it's a legend dao we'd want the legendary nfp on twitter or legend dao

17:27again with 1d dot io uh as a website those are the best places to i think it's a a good grasp of what's going on awesome guy thank you so much i will leave those links in the description box below as well for the viewers all the best on everything secret network moving forward and let's follow up in the near future sounds good thank you very much