Your Attention Is Worth Trillions | Yat Siu

You need to build economies on trust and reputation. I don't need to know your name, but I need to know whether you're trustworthy, whether you have a good reputation. So, as a foundation, reputation and trust is important and digital identity is a solution. As more people who own crypto move on chain, digital reputation and digital ID is going to be much more important and they need that infrastructure for that and that's what we provide. In terms of actual people who own crypto, we might hit a billion people by the end of the year or at least within 12 months, right? We're going to hit our first 100 plus million people that are doing stuff on chain actively. So that's super exciting.

So generally speaking, I think a lot of the attention has been on asset prices, right? More than it has been on digital identity. But I think digital identity is the framework to help frankly increase asset prices. Why? Because you need to build economies on trusted reputation. And if I don't know your identity, I don't need to know your name, but I need to know whether you're trustworthy, whether you have a good reputation. And if I don't, then I can do more business with you which means the value of the ecosystem can appreciate. So as a foundation, reputation and trust is important and digital identity is the solution. At Moverse, we're really trying to build and develop that. And I would say we've got a lot of adoption with the telcos and the business strategies and the partners and the gaming companies we're working with. But I would say is the use case for most of the crypto assets has been around speculation. So, and you can see this, you know, there's about half a million people own crypto and there's about 50 million people, so about 10% that are doing stuff on chain. So, that's the ratio. So, therefore, it's not a surprise that most people who are in the space do it for asset appreciation or speculative potential, right? But there is a 10% and growing and we think that space will go even faster. But we're now at that phase where people are like, 'Oh, what can I do with it? I can build businesses. I can expand my work. I can be more creative. I can have more access. I can have more opportunity by going onchain and that's where digital reputation starts to grow.' So as more people who own crypto move on chain, digital reputation and digital ID is going to be much more important and they need that infrastructure for that and that's what we provide.

Framing of any kind of property rights is a foundation to capitalism, right? If you don't have property ownership, then you can't have capitalism, which means you can't make money. But a lot of people take it for granted. They don't assume that the ownership of the house is unsecure potentially. They just say, 'Oh, the house is mine obviously because that's fine, right?' But it's not the bricks, it's the law and the system that allows you to do that. And that's basically what blockchain does at scale. Now, the reason why this is sometimes difficult to grasp is because not only do they take it for granted, it happens to be virtual as well. So people can say, 'But you know, look at this shirt or look at this house, there is value, right?' because it's tangible. You can touch it. It appears to be tangible. But, you know, don't tell me that, you know, like for instance, you know, if you live in Beverly Hills and then you literally live 30 minutes down the road that the price should really be 10 times the difference. It should not, right? However, again, it's what you value because there's an implied aspect on the actual physical location of that property and the network that it represents. So the big area though of the fastest growing property type over the last 100 years was actually something virtual as well. It was intellectual property rights. IP patents, trade secrets, the biggest companies in the world, Google, Apple, Facebook, Nvidia, they're all based on protecting their IP rights. They would not be worth trillions of dollars if they didn't have IP rights. But that was a virtual property right that needed to be secure. And this is the legal system. And now with blockchain you could do this at scale everywhere. And what is it that we do online all the time? This is the one thing, you know, there's many forms of doing it like RWAs but I want to focus on one which is the attention economy. The attention economy is powered by advertising. It's worth over a trillion dollars a year as an industry. How many industries are trillion dollars a year, right? And that's driven by Facebook, Google, Apple. The advertising piece which is such an important part is you have a property you couldn't own before and now with tokenization you can. So everything digital becomes a way in which you can have digital property rights over and there's a framing you can now compose and build on top. Which brings me to another point which is that as a result the whole world will have financial literacy and financial knowledge as a result. One of the reasons why it's so hard for someone to know about the finance market is because they're excluded. I'm not allowed to invest in this. I'm not allowed to own this. I need a bank account. Think about all the barriers it takes for someone to get to. Right now with a wallet you have immediate access.