Ethereum Privacy for Institutions | Mo Jalil and Oskar Thoren
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Bakelistation. I'm here with Mo Jalil and Oscar Thorin. They are the cofounders of ETH Systems, a new spin out out of the Ethereum Foundation focused on three things, Ethereum, institutions, and privacy, which I think is, desperately needed for all of crypto and in Ethereum included, obviously, for really elevating Ethereum to the next level. Oscar, Moe, welcome to Bankless.
David, thanks for talking us. Thank you.
Why do we need privacy on Ethereum? Oscar, I'll throw that to you.
Sure. So I would say that Ethereum is great sort of technology and works great as a sort of credibility neutral base layer, but, obviously, it doesn't have privacy baked in, and that's why you see so a lot of people have been trying to figure out solutions for that, whether it's on the at the base layer, but also a lot on application layer. So, basically, that's sort of the missing piece, if you will, in the freedom land, and that's where we come in.
Anyone that listens to Banklist already know this so I apologize if find me saying the same things for her many times but basically and for us we care about institutions they generally have two things that they really care about one is their business and the second is that they're compliant. And because of those two things, they kind of tend towards places that they can control. At the same time, you have public Ethereum, which has deep liquidity, has all these new business opportunities, and great ways of doing things they've already done, but much better. But you can't get both without crypt
Can we talk about your guys' backgrounds? Because this is not day one for you guys. This is day one for ETH Systems or or month one for ETH Systems, but this is just the next step on, I think, your guys' very long arc that started a while ago. What context do we need to know from you two and the work that you've done in Ethereum, in privacy, and with institutions that you guys are bringing to E Systems? Moe, maybe just continue taking that one away.
Yeah. So a bit about myself. So I actually started in traditional finance. I used to build algo trading systems like Goldman Sachs, and that's what I did for, like, five years. So I have a really good understanding of the kind of things that, basically, these kind of investment banks need. I then spent basically a number of years kind of in the hedge fund world. And for me that was like the interesting part of the arc where I was looking at all these different things. I remember reading the Bitcoin white paper being blown away but like that was too early. That was way too early. And then fast
So I've been there sort of Ethereum and crypto space for around a decade or so. Focused, like, a lot on privacy very early on. So before, this was kind of, like, a big talking point to working at Status and also creating an R and D lab. As part of that, we were sort of developing various type of peer to peer communication protocols that were useful for sensor business systems and privacy and so on. So been sort of into protocol design and privacy as a resistance specifically on the protocol infrastructure layer for quite a while now. And then I guess the last five, six years, I've been sort of
Yeah. And just to add on that. So we basically I think one interesting thing about us is that when we spun out, we came out with a year's worth of work, like, entire body of things that we've been doing from multiple workshops that we've gone, you know, hands on with lots of different organizations to, you know, public goods that we've published, which is basically a market map of all these different use ca
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