[Music] hello folks you have reached the cryptocurrency portal and today we’re and go over little information about the World Economic Forum and then of course that’s in Davos Switzerland that will just happen so it says you can even from this headline Davos 2020 the five stories that matter for crypto so it’s at this week’s World Economic Forum in Davos state roll digital currencies are a hot topic and exchange goes for broke so obviously the people that meet in Davos Switzerland every year are the movers and shakers of the financial institutions around the world obviously they discuss many things that we don’t know about some of their information is public so some of the information that is starting to come out and there is some are some specific things that revolve around the cryptocurrency space so this article here talks about five things that matter for crypto so let’s go over those together at the World Economic Forum in the Swiss town of Davos global elites meet once a year to work out how to manage the world’s affairs yeah sure this year’s edition of the World Economic Forum taking place over the past week saw a smattering of blockchain conferences and panels such as crypto mountain drawing in the powerful the power-hungry and the power-mad who would attend the main show so what was the big news for blockchain and crypto advocates from the World Economic Forum this week a framework for central bank digital currencies the World Economic Forum released a toolkit for central bank digital currencies in other words state role the Kryptos whether you’re running a rich or poor country large or small whether you want to dish out to regular consumers will reserve it for bank to bank cross-border payments whether you just want to do something on a rainy afternoon the World Economic Forum’s got you covered so the CBBC policy maker toolkit was created with consultation from over a dozen central bank’s as well as a host of financial institutions academics and other international organizations the Bank of Thailand and the central Bank of baharon are both using the kit according to the World Economic Forum’s statement in fact the Bank of Thailand announced it had completed trials with Hong Kong for a prototype the kit comprises worksheets information guides and analysis is the first of its kind to provide a concise summary of the key issues for policy makers said Ashley Lang quiz Project Lead at the World Economic Forum the kit comes off the back of Bank central bank’s interest in homebrew digital currencies some art exists like the synagogue’s digital currency the CFA franc or the Venezuelan petrol big ones are on the horizon – like like China’s own digital yuan in private initiatives such as the stable coin created by the Facebook plate lead Lieber Association JP Morgan’s JPM coin or the immensely popular u.s. dollar pegged stable coin tether have all provoked action from central banks who be announced a script or brokerage platform so elsewhere Davos the singapore-based crypto exchange who be announced a new crypto brokerage platform aimed at drawing traditional institutional investors in decrypt rubies pitched to institutional clients is that they’ll offer offer them zero transaction fees and the lowest prices that can find hoobie brokerage will leverage the smart ordering route strategy which means it’ll connect with other exchanges and OTC desks to get them the cheapest price that’s interesting okay that’s a way to suck people in institutional investors and high net worth individuals will be the major contributors of growth for the crypto economy in 2020 and beyond but barriers like low liquidity and a lack of asset enhancement product are stalling whoo widespread adoption says Ciara son vice president global business at hooby group in a statement all right more details about Beck’s new app for consumer now just remember Beck’s CEO was actually just appointed senator in the state of Georgia in the United States so it’s great to have they have a new CEO now and so it’s great to have a kind of Pro crypto person in the Senate I don’t know much about her politics personally but it’s just great to have somebody that’s Pro crypto in the Senate in the United States back the Bitcoin futures contracts exchange run by the international exchange is released in a consumer app we already knew this of course but a few more details came out of Davos and an event hosted by the block speaking at the event back present Adam White said that the Apple support digital asset which as well as including crypto currencies also include things like loyalty card points and said that I’ll look more like a regular FinTech product such as PayPal than a crypto thin tech like finance and coinbase raided Elio trashed Bitcoin and came out in favor of Libre hmm the best gossip to come out of Davos though was from billionaire investor in CEO Bridgewater Ray Dalio who said that Bitcoin is far too volatile to invest in and then everyone should hold a bit of gold instead there are two purposes of money a medium exchange any store holder of wealth in Bitcoin is not effective in either of those cases now he told CNBC in an interview at Davos Dalio said that cash is trash and predicted there’s a good probability in the next presidential term you’ll get a downturn and you don’t have the effect of monetary policy and you have people at each other’s throats I’m worried about that I’m worried too because no matter who the president is in the United States we can’t keep spending money like we are we’re 23 trillion dollars of debt I know the economy is doing well right now in the United States and that’s awesome that’s great but this debt that keeps piling on it’s gonna come home to roost one day the United States won’t be able to pay its debt instead Dalio more of a Libre man considering the idea of a stable coin pegged to a basket of Fiats a better idea than the viol volatile Bitcoin he surely must know something we don’t the president of Switzerland so ie the ruler of Davos and the country the Liebherr associations based in okay there you go however he called Libra failure adding insult to injury Vodafone one of the members of the Association quit this week Krypto Dada Digital tox digital dollar Christopher Giancarlo the former chairman of the Commodity Futures Exchange Commission which is also known as crypto dad okay launched the digital project last week a non-profit devoted to sending the dollar tubes so speaking to the digital dollar project I actually did a video about this uh nonprofit the digital dollar project so what I’ll do in the comments section below I’ll link to that video that I did last week you can check it out and learn more about the digital dollar project so Giancarlo explained his quote zany idea at the blocks of in Davos we seek to encourage the next major innovation in the u.s. currency a tokenized fiat currency issued by the Federal Reserve System he said he added that the project came about as a response to the limited functionalities of the United States central bank and private sector developments such as digital coins launched by JP Morgan and Libre companies in the private sector said Giancarlo helped advance innovation they are also causing us to take in new and more clear-eyed view of money especially the efficacy of traditional analog fiat money in the new digital economy said so what does Jencarlos digital dollar look like it would be one that would enjoy the Full Faith and Credit of the United States government as central bank money he said more concretely he it would be distributed through banks and trusted payment processors and would support retail wholesale and cross-border payments so it says that’s all until next year folks he’s Davos decrypt 2021 cool all right so that was the five stories that mattered for crypto those are pretty good stories so let us know in the comments section below what you thought the best story was or what you just thought of what you heard coming out of Davos and if by chance by chance you went to Davos let us know what you thought by chance so anyway the last thing I want to go over today is a world of tokenized assets take center stage at Davos since we were just kind of on that topic it’s a speaking at a session on Tuesday titled from token assets to a token economy at the annual World Economic Forum in Davos Switzerland chain industry leaders agree that the tokenization of real assets could transform business models and entire industries by allowing people to hold a digital representation of a stock certificate a proper to eat a corporate security Goldfine are or other real-world asset tokenization can power trading on secondary markets across the globe despite the location of the physical asset or the holder of the token says Neha Narula director of digital currency initiative at MIT and she says this is a little bit different than holding and then holding it through your bank or a traditional firm like a trade or fidelity or Charles Schwab it’s a digitized version of that asset as such it’s wrapped into this programmable layer and we can really build something interesting to some interesting applications on top of that now Jeremy a layer chief executive officer of crypto FinTech company circle explains how illiquid assets could attract investors from around the globe through the issuance of tokens that are fully collateralized tokenization could bring an unprecedented level of democracy open up new streams of capital for global businesses as the markets he said it’s actually pretty exciting if you step back and think about it and the democratization of just assets and tokenize them and you can sir sell fractions of assets so it would be amazing you could argue you could argue that capital markets are very efficient you have the United Stock Exchange NASDAQ but who participates in those is really limited it’s basically thousands of companies out of millions of companies and the ability to access capital as a start-up business as an entrepreneur are the way as you grow is limited so I think the promise of this is we can actually create capital markets that are as open and global as what we have in e-commerce Narula says digital assets can provide a much cheaper and faster way of breaking down a Warhol painting into a million different tokens tokenizing the art world but that same ease of use could lead to abuse sparking a surge in tokens that are not in fact tied to real world properties as claimed says no rule and he says we want to have consumer protection we want to have market integrity people who are issuing assets should disclose information about what exactly those assets represent so what I want to do now is that here is the actual 30 minute just program here at the World Economic Forum from the token assets with token economy and I just want to run it for you it’s 30 minutes you can get it yourself we just went over the overview and if you want don’t want to watch this you know obviously click out but if you want to check it out this is the type of information that I think is gonna have some legs so let’s go and watch it together and go from there it’s about 30 minutes so if you want to duck out now do it but if you just don’t pause it for a minute and then go get something to drink and come back and we can watch it together so here we go is Jeremy Lear the founder and chief executive officer of circle and at the end of the panel if they had the director that’s what we’re hearing in the press about the democratization of assets and asset ownership that synchronization can bring some thought we begin I’ll remind the audience first that if you want to follow along you can use the hashtag web 20 WTF 20 if there’s questions on your team they have sure sure so with the advent of cryptocurrencies people realized that for people to digitally hold an asset so just the way you would hold a paper dollar or a stock certificate you can digitally hold a representation of that and this is a little bit different than holding it through your bank or a trading firm like you trade or fidelity or Charles Schwab it’s digitized version of that asset and as such it’s wrapped in this programmable layer and we can build really interesting applications on top of that and that’s weird sure absolutely there are a lot of projects that are trying to do this and they run the gamut from very simple taking a type of say financial asset that were we use or familiar with in everyday life such as actual dollars themselves creating you know a token that represents the dollar and then being able to get the benefits of there’s no digital dollar to more scarce assets like gold we’re basically ownership positions in gold or made available as tokens that then you can work this and then trade and trade them on secondary markets and then it really starts to go out into more complex type of assets so you know all the way the end slices of ownership in a piece of art or very recently a really popular NBA star tokenized or is in the process of offering a token that gives you a investment in their future earnings and so a lot of people who believe in that say player to invest in their future earnings you know all the way to maybe in the middle traditional property like real estate or physical property where in the past owning a piece of a property has been difficult so Tobi’s ation is being applied in all of those different types of areas with one last example which I thought was interesting just given the forum agenda this year a company in Australia just recently launched were called air carbon tokens which are effectively tokenized carbon credits but then are tradable in these emerging secondary markets as well so really a wide range of different types of examples that are emerging it’s really concrete it’s an example we just think I could have for example own a piece of a Warhol so the kind of asset I might never be able to only myself and put up in my home I can take a fraction of that I can fractionalize that physical asset digitally and I can intrigue that piece of the more call on secondary market and that is independent of who actually owns that Warhol you need in the physical sense that’s right I think part of what makes blockchain interesting for these uses is you have a record-keeping system that is a sort of immutable record-keeping system you have a transaction environment where you can anyone can transact with that around the world and then you have contracts and so for example an ownership in selective ownership that’s a sort of a contract you have with the underlying asset all those things become possible to be put on a blockchain and therefore your transferable tradable investable what’s on so it sounds like we have there’s an opportunity here to take a liquid otherwise they would ask that and enhance their liquidity in a way that is transparent because you see more my thought sure I think it’s really about streamlining it’s taking a process that was previously very onerous was quite manual quite analogue and turning it into something very digital so once you do this it becomes much cheaper much quicker much faster to actually break down a Warhol into a million different tokens for example and to do that for thousands of paintings around the world you can have exchanges which digitally transact in these tokens and assets so that people can move them around and trade them seamlessly 24/7 instead of having to wait and so the banks are open however there do come some challenges with this there are some reasons why it’s a little bit difficult to do analog to do this in the analog world right now and I think some of those risks will carry over into the token bowl too so we have to have to watch out for that what about that what are some of the risks and challenges here sure well I think a lot of the reason it’s to do this in the non organised asset world it’s partly because of regulation and regulation that’s there for very good reasons we want to have consumer protection we want to have market integrity people who are issuing assets should disclose information about what exactly those assets represent and we want to make sure that those assets are really tied to their representation in the real world and so this requires some amount of monitoring some regulation and I think that we’re still writing that law for the tokenized asset world that you know this is always interesting to try and find metaphors for this and you know the phrase that you used an introduction which is this going to democratize access to capital or ownership in things and I think that’s that’s what gets us all very excited about this I think that’s very real usually if you use the example of say other internet platforms right it was hard to imagine for example that anyone who made something in the world would be able to plug into a global marketplace and distribute it to any other person anywhere in the world in a matter of days so to speak and when the buyer and the seller would never know each other in fact it’s sort of anonymized in a sense but they’re sort of risk and reputation systems and efficient you know logistics and discovery platforms that may be possible for a very very very long tail of product creators to reach consumers or in transportation we have the example of uber where anyone can be part of commercialized transportation system hospitality it’s on the air these platforms that are essentially marketplaces two sides and we have that of course with capital today we have capital markets and capital markets are you can argue they’re very efficient you have the New York Stock Exchange NASDAQ but who participates in those is really limited right it’s basically you know thousands of companies out of millions of companies and the you know the ability to access capital as a start-up small business and entrepreneur you know all the way as you grow is limited and so we don’t we don’t we don’t have markets in the same way that we have these open marketplaces in commerce and transportation and these other things we don’t we don’t have those markets in capital we’re in ownership and investing and so I think the promise of this is can we actually create capital markets that are as open and global and as what we have in e-commerce and these other and even in realms like content and content publishing and sharing we have the same kind of experience and earlier point on on regulatory all regulatory regimes on this are very siloed the very country specific and there are some standards around this but but they are very siloed and it’s very hard to grasp the idea that a you know a farmer in India might be tokenizing the future yield of their property and offering that in a global marketplace where an individual investor who’s 19 years old who says I’m interested in this or a basket of things like that and can just get to that in the marketplace as efficient as Amazon or Alibaba you could see how that would be possible but there are so many rules and policies and risk manager and other things that exist that you don’t have to be dealt with and it sounds like the lack of global alignment regulatory alignment in these areas is a challenge and I think it’s interesting to kind of compare and contrast this is often done in the blockchain space to the early days of the internet when we really weren’t faced with global disharmony and regulation I can only imagine what taxation authorities around the world are or pay attention and kind of thinking about all of this as well what are some of the other challenges and there’s other security cyber security risks for this organization or the liquidation of these kinds of assets yeah definitely this is new technology blockchain technologies really only existed for ten years total we’re writing very complex protocols the software is very risky and its operating in a pretty adversarial environment so there have been a lot of bugs a lot of vulnerabilities and problems with cryptocurrency technology that’s being used to build these tokenized asset systems and so I think we really have to be careful we really have to be very cautious we also have to think about things like standards and best practices one of the really exciting things about this technology is that it allows us to innovate on so in so many different areas around financial assets for example custody now we can think about custody assets in a very different way where we can spread out the risk of who actually has control of the asset however we haven’t really figured out exactly what the standard should be from these new types of custodians so there’s a lot of challenges to figure out with best practices with cybersecurity definitely the technology that sits behind a tokenized asset as we talk about it is often referred to as smart contracts and these these smart contracts are neither contracts and where are they smart but that’s the phrase we use smart contracts cool but what it really means is that you have this record and say the record is a token representing ownership in a piece of art or whatever that example would be and then there’s a piece of code that’s been published onto the internet and that code is the smart contract it sort of governs the rules of movement of the ship and there’s more and more things that you can put in that code when you think about ownership ownership is also just a contract so the fact that I you know own a share of say in Delaware corporation well actually the share the certificate is not the really important part what’s important is there’s a very expensive corporate Constitution there’s a very extensive shareholder agreement and share transfer agreement those exists within a regulatory framework under US securities law so there’s a lot of English language so to speak at least in the United States and there’s a court the Delaware courts and the u.s. federal courts that enforce that contract right so with tokenization I think the thing that many people are excited about is well how can we move more and more of the things that are done by people processes by law firms by accounting firms by the sort of fiduciaries that sort of do these prophecies insurance all these have move more of that into code so that it’s actually able to work and go away and very transparent in the dish away but that creates a lot of new challenges both because the technology is very new and so you’re sort of relying on the execution and enforcement of contract by machines not humans and that’s you know a choice were readily walking into as a society but also I think it gets to do it there’s a real lack of kind of case law so there are states like Illinois Delaware Wyoming that are passing laws that say you can put more and more of different aspects of your corporate or on a blockchain in a smart contract but there’s not a lot case law to say what happens when this or that happens a and so that you know there’s an emerging of real-world contracts and these digital contracts is still quite you know quite new and untested it’s unisex it’s very Philly law this is concept and property law and a very common law concept and the bundle of sticks that we talk about this will be stated if you hold all the things then you have full ownership of an asset but you can also create and different kinds of sticks that you can then give away one example that’s often used is merchandising so you have a celebrity or someone whose likeness with that are valuable or can be can monetize and then some of them sticks actually go to other shareholders or stake holders in a particularly if you score a market that are then monetizing that likeness for merchandising it we’re going even further here and we’re talking about taking a fraction or a portion of even that’s likeness let’s say that’s laundry likeness and then the example that you gave I think is a good one and dividing that up a democratizing ownership of that likeness or of that even celebrity or their career that kind of thing but of course it’s a threshold question so it finds that interesting about this and we talked a lot about one of the phrases it’s tied to blocks you to offer this financial inclusion the other one is democratization of assets and asset ownership etc but someone still has to want to own the underlying asset and so I’m curious like how far are we from the example you gave of the farmer in India who actually could take their crop yield let’s say and then securitize that the tokenization I mean how how would you even begin to access that kind of a market creation as an average citizen yeah I mean I think we’re still a good ways off but maybe not that far off if they’re sort of in this sphere there’s there’s sort of different layers that have to be in place so we have like the blockchain technology itself which i think of as like these new operating systems for the internet that deal with these fiduciary trust applications and so there’s huge events that’s happening there and in that technology where it’ll be scalable and usable by hopefully billions of people in the coming years the second is in order to transact like in that example presumably the people who want to own some event need a way to move value into that contract and so they need a stable point and we’re going to do that so you need essentially versions of money that also run in this code environment and can be transferred to the growth of stable coins is a precondition to the growth of tooken us assets but that even if you use that in the example you know the that farmer in India needs to be willing able to accept a stable coin and be able to use that stable coin say to pay their employees or to purchase bread at the store and is that $1 stable coin or is there a market that converts between dollars and you know rupees table coins and so there’s like a ticket or is like a market at the structure layer that kind of needs to exist before you can even utilize invest in a token like that but all of those things are sort of happening in parallel and there’s some point I would say in the next 2-3 years like yeah when they kind of converge and where those become much more realistic for people to execute on it sounds like a tech stack perspective making rapid progress policy stack perspective if you will let me for the rock what’s your take man yeah I would like to offer an alternative vision I think often times when we talk about securitisation and tokenization we take the fact that it must be implemented using blockchain technology for granted I think the power of what we really have here is not is really the fact that it’s implemented on the blockchain a shared database but the interface to the absent we’ve changed the interface to the assets so now we can program around the asset the asset has an API and we’ve made that asset more liquid we’ve exposed it to secondary markets and we’ve made it so that people can hold it quite easily and to me this doesn’t require watching technology necessarily and I think if we if we sort of remove that component if that’s the end of the way that things end up sort of evolving we could see something happening much faster actually and integrating with our existing human system and financial system the barriers really are regulatory and also incentives about the existing market players the existing market players so far have not really been motivated to innovate in this space to supply this API it doesn’t really require technological innovation but I think that you know when it comes to the mobile apps and have our phone my banking app or my my stock app is probably the least sophisticated and the least interesting to use that’s great you know on the policy side I agree that these very significant policy barriers and you know in particular in these cases where you’re talking about someone being able to purchase acts ownership in something getting into securities law and carries law exists to ensure that the issuers of those say the poster crews representing some ownership in say their salary or to provide you know protections within private markets and we’re essentially there’s this distinction between a sophisticated investor or an accredited investor and an unaccredited investors in Korea law is essentially people versus people who aren’t rich and that’s not a very good distinct in when you think about this the risks are people there’s Fosters and people can’t have enough for relevant information to be able to make sound investment decisions and it’s risky so that’s why you know venture capital funds on the average person to invest in now I think if coming back to the example of these earlier internet platforms like e-commerce market places they created an or even over as well they created self regulatory schemes essentially that ensured that the information asymmetry that exists is resolved so I know because of the risk and reputation reputation system I trust the risk and reputation system of this marketplace and it’s got a track record I’m going to buy from this random manufacturer in China or wherever they are and the question I have is can the technology and innovators in this space come up with you know technological solutions that you know with those funding our risks the risk of disclosure and other things ahead of what policymakers might say and get it right and do it actually better than how we’re currently doing it through things like SEC registrations yeah I would just like to add I’m very excited about applying this technology to the field of regulation actually this technology is by its nature self-regulating technology instead of interesting to see the way that we can actually in some of these policies into the software itself automatically exposing who who something’s going to and making sure that they’re on an appropriate list or something like that the software can actually enforce this for us so there’s a certain class a certain type of regulation and policy making that I think can you move to the software and then the rest we are gonna need to have to work with policy makers and regulators we can’t just let the industry self-regulate unfortunately it’s got to be a multi-stakeholder conversation assets they exist once they’re on the internet they exist everywhere an Internet device can connect to the internet so the reach is inherently to really realize the advantages here to relation we are able to outsource technology there’s actually a huge area called Nagar Dao so for those of us watching along who might not know did an algorithmic stable point is that instead of being back one-to-one with that asset being held for example I’m good stable coins usually have two different types of assets the tree in relationship to each other and the algorithm is designed in such a way that one of them maintains a relatively stable value so obviously when you hear this you should be a little bit worried it’s very difficult to get these algorithms right our first child this is the type of monetary policy that bankers and agents and lenders engage in at a pretty high level but I think it’s very interesting to think about algorithmic monetary policy the worst with these types of coins is really what happens at the edges of the system what happens if one of the assets really experiences a Black Swan kind of event can it maintain the peg I’m still struggling slightly to understand which is not every person wants to be speculated for there there’s the long term saving strategy right I think the the footside is is that you diversified alternative investment strategies are significant so you can imagine people who if the liquidity and the access to these types of assets more and more types of assets become available they’re going to be people who follow those and create the equivalent of what we think of as funds and those become invested and they have the characteristics that are beautifully so I think there’s there’s the mechanics of the actual individual asset and there’s how would that actually ultimately be accessed by person there certainly are there’s certain they aren’t people who are going to be passionate about something really specifically like a sports athlete they may be very very passionate or the popularity of a cartoon character or whatever okay and some people who have deep passions and interests might find that interesting I think for for me at least I’m interested in more mundane examples which is what we think of as private equity so private equity is not something that’s accessible to a broad class of investors today it’s largely only accessible to the very wealthiest the value comes to fighter companies that are starting to grow and so it seems like a place where you really could both for the entrepreneurs that are trying to form capital and for the investors who are wanting to access that classical foreign investment to give them a more efficient way to do that and then to do that on a global basis so I think more mundane but also no I think it’s just its future earnings potential [Music] right now is the deviation from the farmer himself or herself is a huge layer in their individual being able actually to kanai’s their own value their own product their own whatever now again there’s a weak in there that’s what I’ve mentioned earlier food chain is in any way solving that problem is mechanism there’s a mechanism for outsourcing some of that agency to technology watching cat videos return to and that’s a business that there will be content creators that would create a completely new kind of distribution model for content or that you know big box retail stores they’ve everything you ever need creators that would all have access to it we’d see the benefits of that so the long tail of capital long tail things that are investable with capital is quite large and it’s hard for us to imagine what an efficient go hard to pay for that would be run but that’s where we’re trying to point this area is going to be in the next five to ten years that’s a very long time visit in our world yeah come right back to where I was talking about which is I see these kinds of new open global marketplaces that exist for for tokenized access to capital I don’t necessarily like centralized in the same way that Amazon Alibaba are but that there are many many different marketplaces that are connected together and that individuals can in firms and participate in those and yeah that the world will look you know that well the capital will look much more like the world that we see in honestly yeah I think we’re conducting a grand experiment right now it’s certainly the case that a lot of things which we think might benefit from tokenization or chopping up into little pieces and making it available don’t actually benefit from tokenization for some of the reasons that the gentleman just just indicated however we’ve had really been able to do this before we didn’t really have the technology in place the systems in place the infrastructure in place for someone to even try to do this so I think that in the next five to ten years we’re gonna see a lot of experimentation some of these are gonna fail dramatically but there might be a couple of a few that really and truly do expose some lack of some something missing from the real world that we’re unable to accomplish that we can accomplish with this technology wow that was really interesting folks I hope you thought it was interesting as well just the tokenization of assets is exciting and like how they ended there who knows how this is gonna be in five to ten years and I personally think it’s gonna take off but we’ll see what’s happened so thanks again for tuning in to the cryptocurrency portal I know that was long there but I thought was important too since we talked about the topic overall Kyra and and we had access to this information and panel discussion from the horse’s mouth so to speak at the World Economic Forum it was great to be able to review that together let me know in the comment section below what you think of their thoughts there at the Economic Forum and let me know of any thoughts you have about the cryptocurrency space in general I always respond to all comments so thanks again for tuning in if you’re not a subscriber yet I would be honored with your subscription of the channel I’ve hopefully I’ve earned your trust if you’re already subscribed to channel thank you very much and yeah and please smash that thumbs up button really helps out the channel in the YouTube algorithm so to speak so thank you again and we’ll be doing another video soon so thank you [Music] you