(Upbeat electronic music)
(knocking)
- Hi, I'm Connor.
- I'm Sam, and I have a coffee problem.
- Hi, I'm Miles.
- [All] We are Carbon.
(keys clicking)
(upbeat electronic music)
- I think something that's kind of,
not even up for debate anymore is that
distributive ledger technology is here to stay.
And there's going to have a fundamental impact
on how we design systems going forward.
- Cryptocurrencies, especially in the last two years,
have had a really meteoric rise,
in terms of price, in terms of hype.
Bitcoin has garnered usage globally
as a payment solution, but fundamentally
we still have many things holding us back
from achieving mainstream adoption.
And we think those two things are throughput and volatility.
- Very few, even the better architected systems right now,
are going to have a massive amount of trouble scaling
because throughput is so low.
So throughput is the amount of transactions per second,
or per unit of time, that any of these systems can process.
You really can't replace any economic infrastructure
if you're not processing at a faster, at a high enough rate.
- The volatility aspect stems from the fact that
most cryptocurrencies are a fixed-supply,
meaning that there will only ever be x amount, right?
So in Bitcoin's case, that's 21 million,
and therefore, when there's underlying shifts in demand,
there's underlying shifts in the price of each unit.
And this is why most cryptocurrencies are so volatile.
(upbeat electronic music)
- So stablecoins are a broad category,
and there's a lot of attention going into this space
because it solves a pretty large problem
in the cryptospace.
- There's fundamentally three different ways to
create a stablecoin.
The first is fiat collateralized, which is centralized.
And the famous example here is Tether,
there's also True USD.
And the idea here is that you collateralize
each coin with one US dollar in a bank account.
So it's collateralized by exactly what
it's supposed to be worth.
The second method is crypto-collateralized,
which is decentralized, and MakerDAO is an example of this,
where they use ether as the underlying collateral.
And people basically over collateralize their positions.
- They're collateralized are kind of much higher risk,
but also much higher reward,
because those are the ones that really have potential
of becoming the common denominator.
- The idea here is that you can expand and contract
coin supply based on the demand,
and that should result in stability.
(upbeat electronic music)
- We're building Carbon, a price stable cryptocurrency
powered by Hedera Hashgraph.
- Like any system, crypto will need a common
denominator at some point.
We need something that doesn't change over time
to be beneath every transaction,
be beneath every account, be beneath everything.
So that's what we're hoping to achieve with Carbon.
- With Carbon, what we do is we have a flexible
coin supply, where basically if we need to,
if the demand is higher than the supply,
then we can increase the coin supply.
And then if the demand is lower than the supply,
then we have a mechanism to contract it.
On a high level, there's two tokens,
so you have Carbon stablecoins,
and Carbon credits, and when we need to contract
we auction off Carbon credits, and people
that are willing to burn their stablecoin
receive those Carbon credits, and then when we
need to expand the supply we distribute all
newly minted stablecoins to people that hold Carbon credits.
- What gives us value is distributed demand,
and the way we keep it at a dollar is by adjusting
supply and response to that demand.
So high risk, high reward model.
When you get to scale, economic growth will guarantee,
the assumption of economic growth is fundamental
to everything we do.
If economies weren't going to grow,
the S&P 500 would go down on average.
That's kind of a fundamental assumption that we all share,
and when you get to scale that will drive things forward.
Getting to scale is not guaranteed.
But it's a need that we believe we'll fill,
and we believe we're in the best position to fill it.
'Cause we believe that we have the best solution
in terms of rewarding everyone equitably,
and being intentional and aware of the risks
as we go forward.
- What are some use cases that we can use a stablecoin for?
Well I think the one that people are pretty familiar
is as a cyptocurrency trading pair.
So Tether thus far has provided a very widespread use case
for stablecoin in the cryptotrading market.
And then some of the use cases that we see as
people using Carbon for are for cross-border remittances,
as a alternative to incumbent players such as Paypal,
Braintree and whatnot, where you can dis-intermediate
people who are taking these 3%, 4% fees and then replace
it with Carbon which run on Hedera Hashgraph.
So why the name Carbon?
Well Carbon as an element is a building block of life.
Everything organic in the world is made out of carbon.
Similarly in the cryptocurrency market,
we believe that a robust stablecoin is necessary
for the lifeblood of cryptocurrencies
and the future of cryptocurrencies.
- Hi, I'm Connor.
I'm the co-founder of Carbon.
I went to Columbia University where I studied
humanities and psychology.
Before that I worked at a number of tech companies,
including Noodle, Riley, which did real estate
sales lead qualification, as well as ConsenSys
in Brooklyn which is an ethereum production studio.
- Hi, I'm Sam, or XAD if you're in our telegram.
I was class 2018 at Stanford,
I studied computer science with a concentration in AI.
I was one of the first three employees with Plenty,
which is a hydroponics AI company.
But I started working on development in stablecoins,
with Gavin, one of our other co-founders,
in June while he was at Uber.
- Hi, I'm Miles Albert.
I'm one of the co-founders of Carbon.
I got involved with Hedera Hashgraph last September,
and I was involved in marketing, general evangelism,
while I was still a student at the
University of Southern California.
So I left USC in December,
moved to New York in January to work on Carbon full-time.
It's very interesting how the team came together.
I actually met Gavin through a virtual ethereum
hackathon in 2016.
I posted an idea for a project on the forum
and he actually reached out to me.
The project that we were planning to work on for
the hackathon was actually very similar
to this concept of the stablecoin.
I actually met Connor through a mutual friend,
and shortly after meeting Connor I connected him to Gavin,
and then Gavin introduced us to our other
co-founder Sam.
- And then we all met up in DevCon, and then
there we really bonded and had a great time.
And then at DevCon, that's where
what was then called Prism came to life.
(upbeat electronic music)
- So when designing an auction,
you need to make sure it's fair.
And we thought that Hashgraph's fairness properties
were very appealing to address this problem of
creating a fair distributed auction.
- We believe that Hedera Hashgraph is making the,
has the proper balance of the core philosophy
and core fundamentals that make this space
appealing and useful, but also the willingness
to work with the incumbents, the willingness
to make the sacrifices that have to be made,
to actually have an impact.
Because it's very easy to be an idealist,
and just sit in your corner and say everything's broken
and eventually people are going to come
to view things my way, and everything will be perfect.
But it's much more difficult to be willing to
bear the burden of taking something good and
getting it into the hands of a lot of people.
So we think Hedera Hashgraph is making the right moves
in terms of doing what has to be done to see a
broader rollout of distributive ledger technology
to first the tech sector, then the economy,
and then through the economy into the lives of
every single person.
Distributive ledger technology has the potential
to have the same impact, by just making
marginal improvements in a broad variety of sectors
that add up to something big.
And we believe that Hedera Hashgraph is
both in terms of philosophy as well as technology
are well-positioned to do something similar
across the general economy.
And we're hoping, due to that alignment of vision,
we're hoping to be part of that story.
(upbeat electronic music)
So what's next for Carbon?
There's a lot I can talk about here.
Similar to Hedera Hashgraph, we believe in working
with incumbents, and so we are working aggressively
to roll out the infrastructure, we need to have
as large of an impact as quickly as we can.
- But we think that sustainable demand comes
from integration into real businesses.
So we're focused primarily at the moment of
integration into distributive applications,
it could be building on Hedera Hashgraph,
it could be building on some other platform,
and we have plans for interoperability with other
small contract protocols.
We just closed our seed round of fundraising,
which includes a number of name brand institutional
investors.
And at the moment we're focused on rapidly
expanding a team.
We have about four full-time co-founders and
seven part-time employees.
And we're really focused on growing and
building out the product, and getting integrated into
businesses.
- Hi everyone, it's The Gossip Guy here,
and I just wanna take the time to thank the
Carbon team for sitting down and speaking with me today.
- Thanks for having us.
- So I also understand there's a fourth team member
that wasn't here today?
- Yeah, Gavin, one of our core developers
is traveling right now.
But he was really upset that he couldn't make it,
and hopefully we'll catch him next time.
- Great.
So also too, where do people go if they want to
get further information, or maybe express
some interest in your guys' project?
- Yeah, our website is www.carbon.money.
You can also find our white paper there.
We announce a lot of things on telegram,
we're pretty active with our community members.
We're active on Twitter and hopefully
you tweet us as well.
- I guess before we wrap up too,
this is the Gossip Guy so I ask this of all of
the people that come on the show,
but do you guys have any gossip that you might be able
to share with us before we leave?
- Well, a little bird told me that there's
probably going to be some partnership
announcements pretty soon.
So come express your interest,
we're on Telegram, and we'll keep you in the loop.
- All right, well we'll leave on that note.
So, once again The Gossip Guy and Carbon signing out.
Thanks for watching.
(upbeat electronic music)
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