Caroline on A3S Protocol's next generation cryptocurrency address standard

0:00i'm ashton addison from block west capital for investmentpitch media and today on the Crypto Coin Show we have with us caroline the co-founder of a3s protocol caroline welcome to the show and thank you for taking the time today thanks ashton i'm really glad to be here my name is caroline and i'm the co-founder of a3s protocol and focusing on the product rose and yeah thanks for

0:26having me you're very welcome let's just dive straight into it your team is doing something i haven't seen before in the industry with nfts that is a great use case that people aren't totally aren't familiar with right now you know they're sort of thinking nfts as digital art and there's all these different use cases that it can revolutionize in different industries so

0:48let's just start by diving right into it we'll start with know the basics i'd love to explain for you to explain for us you know what is a 3s protocol and what are the main solutions that your team is working on sure so a3s is a multi-chain protocol to create the next generation address standard so this means that the addresses created by a3s protocol are different from the

1:14traditional addresses the next generation addresses can be securely like transferred to other people or be trading on the market or even rent it out to the consumer as the service so i think this allows the addresses to become an unchanged service that we can easily put a price on okay and i feel like we need to break this down a little bit more i feel

1:38like traditional ethereum bitcoin addresses are already a little bit confusing for people as they normally make no sense as just a hexadecimal address and there are there are different solutions that make it easier for people to read it but you guys are bringing a whole next level of functionality can you talk about i'm guessing that your team has

2:03looked through other solutions of people trying to bring functionality what makes a3s protocol specifically having a competitive advantage in the way that your approach to this solution sure so the biggest feature of a3s protocol is that it separates the right of control from the addresses so in our case the control is

2:31attached to a controller nft we can also call it you know the owner nft or some others might call it an nft key or nft gate so basically it means that whoever has the nft has full control over the addresses so this model has several benefits like the addresses can now be transferred to another person or by trading on the

2:58market thanks to their transferability and also because the right of control is now substantialized into a nft so any infrastructure that can be applied to nft is also applicable to our you know our addresses and also i would like to mention that there is no private key for our address well i should probably rephrase that there is a private key but it's

3:26hidden so it is the end of t that you control so there is no need to memorize your private key or you know like wreck it down somewhere safe there is just no risk of leakage okay that's great to know and you know i mentioned that there's a lot of different use cases for nfts but i specifically haven't seen a project that uses nfts to control specific addresses

3:53how did your team come up with this idea and you know what problems did you see where this was the perfect solution yeah well actually the idea of the project comes down to our personal experience so first i would like to give a story of one of our co-founders who is a kwan trader and their team will do some you know on chain high frequency trading activities

4:19and one trouble that they have for a few times is that every time someone left the team they will need to retire the whole batch of their on-trend addresses you know because in order to avoid any moral hazard right but later on they did come up with a centralized solution where they use aws service so well they managed to do that so the trader doesn't need to

4:45know the private key but they can still have control over the trading address but the well the centralized solution does satisfy their needs to some extent but he wants to take it to the next level to bring that solution to the unchained world so that's why yeah that's why he has the idea that of a3s protocol and as for myself

5:12i had a pretty similar experience so i remember i was camping in the national park and i got a text message from my roommate and she's like i'm saying oh caroline all my characters just got liquidated and you should check yours and i think we borrowed some assets from a platform called dydx and i didn't have my laptop and i was in the middle of nowhere my internet

5:38connection is really bad so i had to ask her to you know do some transactions and add more asset collaterals for me you know basically i shared my private key with her to allow her to use my address but of course later on i had to you know create a new address because you know just in case not that i didn't i do trust her under that circumstance but you know after

6:05that day i have to use a new address in order to keep all my assets safe right so i think like we both in the situation like me and my co-founder we're both in the situation where things will be much easier if we can just give the address temporarily to someone and you know can get it later safely so that's why we think our product can really solve

6:31the problems for the users because we've been in that difficult situation and we experienced that so we know exactly what the users need great example caroline and that makes a lot more sense when you give the example of when you're camping and you know there's a lot of times when i feel that people trading don't have access to their account and they need to give

6:56it to a friend or family quickly to make a trade but once as you know once you give your private keys to somebody there's no changing that private key and yeah under 100 years later they could still access the account exactly so that's a huge problem to be solved right now so that it makes a lot more sense now now that you put it that way to give temporary

7:23control to other people and be able to move that around using nfts it can be temporarily or for good it depends on their needs so you can yeah you can just purchase someone's address and that's yours and they will no longer have control over this address interesting and i was looking through you know the papers for a3s and on the website and i saw that it was talking

7:50about powering addresses by liquidity now that does at first glance i'm curious on like what does that really mean maybe you could explain that for me and the viewers yeah it actually has two layers of meaning so with the traditional addresses you know in order to share them with another people you obviously need to share your private key with them

8:14and like i mentioned before like the sharing of your private key with someone else cannot be undone it's not like we can delete their memories or anything so since we separate out the right of control from the address we make it possible for one to transfer the address to another and you know addresses become transferable so this is the first layer

8:38of liquidity and the second layer of meaning is that with this transferability addresses become an asset you know like nft which can be traded on the market or you know rent it out like a service so addresses can be priced by the supply and demand just like any other liquid asset just like stocks or you know bonds that people can buy and trade yeah that's the second layer

9:06of liquidity very interesting i'd be excited to be able to purchase someone's group of addresses on marketplace as an nft i'm looking forward to checking that out and i also saw that part of it is called address as a service is that sort of like being able to buy and sell the addresses or what is address as a service

9:34I yeah i will give some specific example for you know you and the audience to better understand the situation so just imagine that you've been interested in an nfc project for quite a long time and one day you saw on twitter that they are having a presale of their new collection of nft and you think the project has great potential so you're looking to get like

9:58you know at least 20 of them but unfortunately you're not entitled to mean those nft because they're only for members who had participated in like for example their previous governance proposal so well you obviously you missed that because you were on the bed recovering from covet so it would be great that you can you know some eligible members who have

10:23Who are not very interested in the pre-sale then they're willing to rent you their addresses for you to meet those nft right and another situation can be a when you need to operate multiple addresses to participate in an activity so you need to have both the payment assets and the assets to pay the guest fee ready in order of your addresses so rather than you depositing those

10:53assets to every address it will be much easier if you can just rent those addresses you know with existing assets to cover guest feed it so it can be like bmv or you know eth you just need to pay everything at once for the addresses for the address service provider so yeah it will be like much more easier well actually on top of my head let me just give more exa some more examples

11:21so there is one like to transfer fixed assets so by fixed assets i mean the assets locked in the address a good example is vec rb so the vacrv received from staking your crb token is actually locked in your address so if you are more interested in the yields or you know the economic

11:48value from staking you don't actually want to hold those ecrb but it's locked in your address so you have you'll be able to sell those by just selling your address yeah so what i'm trying to say here is that transferable address is like a basic infrastructure and a lot of things can be built on that foundation yeah great examples caroline and i can think

12:12of many times as well where i wanted to get into for example on the polka dot periching and lease offerings they often have one on the kusama chain beforehand and if you participate in one then you're allowed to participate in the next but often you don't hear about the first one and you're only allowed to participate if you've already participated before and then in that

12:36case there could just be a marketplace where you would be able to access people that could offer their addresses that have already participated and so that makes a lot of sense as sort of like address as a service thank you for explaining that all of these use cases sound very valid and i feel like these would be great to have in the mainstream cryptocurrency industry right

12:57now so i'm curious where exactly is your team at with all of these different functions and releasing them into the market we have already finished the design of the first version of contract so basically we have a demo already but we're still testing it i'm pretty confident that we'll be able to launch the product in the third quarter of this year so yeah

13:24and in our first version the users can create the a3s address to send and receive assets both way and of course they'll be able to transfer the address to another person great and where do you see nfts you know in this kind of use case moving forward you know a year from now or a few years from now do you think people will

13:50Like there will be other competitors that come up and try to do similar things and that this will be a common use case for nfts yeah definitely and this is a very good question so nft by its name is a is a type of differentiated assets and you know addresses is a very native component of blockchains so in the future

14:17A larger a large number of the addresses will be pretty like represented in the forms of nft so well so we can establish that you know the buying selling renting you know basically all the uses of nfts will be applied to the dresses and i also believe that with the development of the whole ecosystem you will be more and more crypto native components

14:46like addresses or you know like ens will take the forms of nft because you know currently the major application of nft it's like what you mentioned in the beginning is still quite limited to collectibles you know or pfp things like that great i'm looking forward to seeing these updates for your from your team and just you know the evolution of nfts

15:13and i feel like this is just the beginning what is the best way for the viewers to follow along with a3s protocol and just the updates in this kind of evolution for nfts in with what your team is releasing you can always reach out on and check out our official websites it's very easy to remember it's just a3s protocol.xyz and we also have our twitter account and

15:41our discord community and we also post some articles on our medium so we can find link to all these three channels through our website and also we are on gr14 on gitcoin it's a it's a grand event to support public good projects so if you're interested in our project please find us and support us on get coin amazing great to hear that as well thank

16:07you caroline i will leave the link to the website and the twitter and discord as well as you mentioned in the description box below to make it easy for the viewers i appreciate all your insight on the future of nfts and the innovations that a3s protocol is working on thank you and let's follow up in the near future yeah thank you it's really fun you

16:29know talking to you and the audience about our projects and you know hopefully in the future many many users using our transferable address and you know go back to check out our early days videos and they'll realize you know this talented youtuber has discovered this project in such an early stage so yeah thank you so much today thank you