Illia Polosukhin

Like, can we just send people money?

And so this was 2018, and we didn't find anything that actually satisfied our requirements, which was be really affordable.

It shouldn't cost you... Even back then, the fees were higher than what we were paying people.

Today, actually, Ethereum recorded, I think, $20 fees, $20 to $100 fee per transaction.

So if you're paying people 15 cents for some work, that's not going to work.

Yeah.

Then all of this, Bitcoin, Ethereum, et cetera, they were too slow, too kind of complex, really hard to build on, really complex to use.

And so we actually just like, okay, we should solve this problem.

We would have been users if there was a network we could use to do micropayments that are fast, easy, accessible to everyone.

So that's kind of how we focused on blockchain in 2018.

And so the goal is, you know, build effectively a programmable decentralized system where all the rules are known.

you know, identity.

So, like, there's a global identity that you can use and you can rely on.

And it's, like, self-verifiable.

So, I mean, again, for those, for internet nerds, right, we're right now using, you know, DNS.

We're using, kind of, to resolve the, like, Riverside or whatever domain you're in to the website.

Now, that is actually a centralized system.

Like, there's a, you know, agency somewhere that decides, like,

how things are.

There's like few servers that actually like propagate information, et cetera.