Blake Hall

So when you literally just back up to cradle to grave, what happens cradle, you would go, your financial life cycle doesn't really begin until you're, I don't know, 17 to 19 years old. So as an entrepreneur, I said, all right, credit bureaus are for credit underwriting, which is an overlay. The real identity should come from the government and from healthcare. And that's the right place to start.

So when you literally just back up to cradle to grave, what happens cradle, you would go, your financial life cycle doesn't really begin until you're, I don't know, 17 to 19 years old. So as an entrepreneur, I said, all right, credit bureaus are for credit underwriting, which is an overlay. The real identity should come from the government and from healthcare. And that's the right place to start.

Now it's going to take time because you're like building this new way of doing things while the existing world continues to putter along. Just like Visa and MasterCard didn't get rid of cash payments overnight. They just gradually shifted the mix. But I really stuck to my guns on that.

Now it's going to take time because you're like building this new way of doing things while the existing world continues to putter along. Just like Visa and MasterCard didn't get rid of cash payments overnight. They just gradually shifted the mix. But I really stuck to my guns on that.

My running joke with the treasury was I've stopped measuring the sales cycle in terms of weeks and months, but instead by the number of children I fathered. It's And all the board meetings, you can imagine they were like, Blake, should you do banking or maybe you should go into this other thing? And it's all given a lot of things, but not on this. Your identity needs to come from the government.

My running joke with the treasury was I've stopped measuring the sales cycle in terms of weeks and months, but instead by the number of children I fathered. It's And all the board meetings, you can imagine they were like, Blake, should you do banking or maybe you should go into this other thing? And it's all given a lot of things, but not on this. Your identity needs to come from the government.

Yeah, I think it just depends on for what. So if you want to turn your mobile phone into a wallet, great. And so you'll see a lot of what Google and Apple are doing with transit cards and maybe your driver's license or your passport on your phone to get through a TSA checkpoint. Now you'll see that in some places.

Yeah, I think it just depends on for what. So if you want to turn your mobile phone into a wallet, great. And so you'll see a lot of what Google and Apple are doing with transit cards and maybe your driver's license or your passport on your phone to get through a TSA checkpoint. Now you'll see that in some places.

That's all well and good because in person, the attack surface is inherently limited. Attackers in China... obviously can't show up in mass in the Dallas airport. And deep fakes, there is no concept of deep fakes in person. You can clearly see if somebody's got a mask or something on or some sort of disguise.

That's all well and good because in person, the attack surface is inherently limited. Attackers in China... obviously can't show up in mass in the Dallas airport. And deep fakes, there is no concept of deep fakes in person. You can clearly see if somebody's got a mask or something on or some sort of disguise.

So if you just wanted to replicate exactly what a physical wallet does in its analog form, cool. And that's where a lot of the innovation has been going. The problem is really risk. When you start to put things online, where now the attack surface is global. So this notion of a physical wallet was designed for inherently local use. It just moves where you move.

So if you just wanted to replicate exactly what a physical wallet does in its analog form, cool. And that's where a lot of the innovation has been going. The problem is really risk. When you start to put things online, where now the attack surface is global. So this notion of a physical wallet was designed for inherently local use. It just moves where you move.

But now when you go online, you can literally go anywhere. Like an attacker in China can come attack American systems. You need a lot more capability. And so the limitation of of the hardware manufacturer's approach, they have basically said, we're not going to be able to see anywhere the ID is used and there's no tracking and they'll put it underneath privacy.

But now when you go online, you can literally go anywhere. Like an attacker in China can come attack American systems. You need a lot more capability. And so the limitation of of the hardware manufacturer's approach, they have basically said, we're not going to be able to see anywhere the ID is used and there's no tracking and they'll put it underneath privacy.

And I would say for physical interactions that are localized and for use cases where the risk is morality, maybe adult websites or kids in social media, all good. Client side's great. But when you look at financial risk, the way the market operates is quite different. Your bank can actually see everywhere that you transact. And for some reason, as a society, we've decided that's okay. Well, why?

And I would say for physical interactions that are localized and for use cases where the risk is morality, maybe adult websites or kids in social media, all good. Client side's great. But when you look at financial risk, the way the market operates is quite different. Your bank can actually see everywhere that you transact. And for some reason, as a society, we've decided that's okay. Well, why?

Because credit card fraud is a real issue. And we've actually decided that If it looks like your Visa card has the potential to be everywhere that you want to be, but if it actually starts to fly around, your bank can see that and go, hey, time out. Let me go talk to Patrick, make sure this is legitimate. And there's consumer protection.

Because credit card fraud is a real issue. And we've actually decided that If it looks like your Visa card has the potential to be everywhere that you want to be, but if it actually starts to fly around, your bank can see that and go, hey, time out. Let me go talk to Patrick, make sure this is legitimate. And there's consumer protection.

So if you go, oh my God, and it was compromised, that's not me. In a client-side model, when you start to deal with financial risk where the phone manufacturer can't see it, imagine this. Imagine there's a 65-year-old woman. She's somebody's grandmother. She's about to retire. She's been scammed by one of these LLM-enabled AI scams that is really sophisticated. Her 401k balance goes to zero.

So if you go, oh my God, and it was compromised, that's not me. In a client-side model, when you start to deal with financial risk where the phone manufacturer can't see it, imagine this. Imagine there's a 65-year-old woman. She's somebody's grandmother. She's about to retire. She's been scammed by one of these LLM-enabled AI scams that is really sophisticated. Her 401k balance goes to zero.