>> Live from Stanford University. It's the Cube covering Global Women and Data Science Conference brought to you by Silicon Angle media. >> Welcome back to the Cubes Coverage of the fourth annual Women in Data Science Conference. This global winds event is the fourth annual our fourth year here, covering it for the Cuban Lisa Martin, joined by Gianluca Pecorino, the director on the Stanford Institute for Computational and Mathematical Engineering. Gianluca, it's a pleasure to have you on the program. Thank you. So the Institute for Computational and Mathematical Engineering. I see M e. Tell us a little bit about that and its involvement in wins. >> Yes, so the status has. Bean was funded fifteen years ago at Stanford as a really hard before computation of mathematics at Stanford. The intention was to connect computations and in general, the disciplines around campus towards using computing for evolution, for starting new ideas for pursuing new endeavors. And I think it's being extremely successful over the years in creating a number of different opportunities. Now weeds started four years ago. As you mentioned, it's part of an idea that the prior director advising me, Margo Garretson, had with few others, and I think the position of I see me at the center of campus really helped bring these events sort of across different fields and this different disciplines. And I think, has Bean extremely successful in expanding and creating a new, a completely new movement, a completely new way of off off engaging with with a large, very large community. And I think I seem, has Bean very happy to play this role? And I'm continuing to be excited about the opportunities >> you mentioned expansion and movement to things that jump out. Expansion way mentioned fourth annual on Lee started This Is three and a half years ago knew that twenty fifteen and we were had the pleasure of having Margo Garrett send one of the co founders of Woods on the Cube last year at wigs. And I loved how she actually said. Very cheeky winds really started sort of as a revenge conference for her and the co founders, looking at all of the technology, events and industry events and single a lack of diversity. But in terms of expansion, this there are one hundred fifty plus regional winds events this year in fifty plus countries. They're expecting over one hundred thousand people to engage this expansion. In this movement that you mentioned, it's palpable. Tell us about your Where's the impetus for you to be involved in the woods movement. >> Well, I think my interest in in data science and which particular is because of the role that I seem years in the education at Stanford. We obviously have a very important opportunity toe renew and remodel our curriculum and provide new opportunities for for education off the new generations and clearly starting with with the opportunity off being such an audience and reaching so many different discipline. It's a very different fields. Helps us understand exactly how to put that curriculum together. And so my focus of my interest has been mostly on making sure that I see me alliance with these new directions. And when we establish the institute, computational mathematics didn't really not have data is a very, very critical component, but we are adjusting to that clearly is becoming more and more important. We want to make sure we are ready for it, and we make sure that the students through our curriculum are ready for the world out there. >> So let's talk about this. The students and the curriculum. You've been a professor at Stanford for a very long time before we get into the specifics of today's curriculum. Tell me a little bit about how you have seen that evolve over time as we know that. You know, we're sort of in terms of where the involvement and women and technology and stump field words in the eighties and how that's dropped off. Tell me a little bit about the evolution in that curriculum that you've seen and where the ice Amy is today with that adaptation. >> Yes, certainly. The evolution has bean very quick. In the last few years, we have seen, um in a number of opportunity emerging because of the technology that is out there. The fact that certainly for data science, both the software and the artwork and the technology, the methodology, the algorithms are all in the open so that there is no real barrier into sort of getting started. And I think that helps everybody sort of getting excited about the idea and the opportunity very, very quickly. So we don't really need to goto an extensive curriculum to be ableto ready, solve problems and have an impact. And I think that, perhaps is one one other reason why we are sort of in a level playing field right. Everything is is available to everybody with relatively minor investment at the beginning. And so I think that certainly a difference with respect what the disciplines, where instead, it was much more laborious process to go through before you can actually start having an impact. Suffering every o opportunity, toe change world to toe come, you know, sort of your your vision's sort of impact in the world. So I think that's That's definitely something that the data science and the recent development into the science have created. And so I think, in terms of our role, sort of continuing role in this is tow Pet Shop six. You know, expand the view ofthe data. Science is not just the algorithm, the technology, the statistical learning that you need to accomplish. A student is a new comet into the field, but also is other other elements. And I would say certainly the challenges that we are that are opposed to data. Since they are challenges that have to do with the attics with privacy on DSO, these are clear, clearly difficult to handle because they require knowledge across disciplines the typical air not related to stem in In a traditional sense. But then, on the other hand, I think is the opportunity to be really creative. Data is not analyzing on its own right. He needs the input are sort of help in creating a story. And I think that's that's another element that he makes data science a little bit different. Another stem disciplines intend to be much more ascetic, much more sort of a cold if you like. I think >> that's where the things to you that I find really interesting is if you look at all the statistical and computational skills as you mentioned, that a good data scientist needs to have as we look at some of the challenges with the amount of data being created. So you mentioned privacy, ethics, cybersecurity issues. The create creative element is key for the analysis. Other things, too. That interest me, and I'd love to get your thoughts on how you see this being developed on the curriculum. Helping is is empathy, collaboration, communication skills. Where is that in the curriculum and how important you are? Those other skills to the hard skills >> that that's That's a great question. And I think where is in the curriculum? I think we're lagging behind that. This is one of the opportunities that we have to actually connect to our other places on campus, where instead the education is built much more closely around some of these topics is that you mentioned. So I think you know, again, I the real advantage in the real opportunity we have is that the data science in general reaches out to all these different disciplines in a very, very new way if you like. I think it's it's probably one of the reasons why so attractive toe younger generation is the fact that it's not just the art skills. You do need to have a lot off understanding of the technology, the foundational statistics and mathematics and so on. But it's much more than that. Communication is very important. Teamwork is extremely important. Transparency is very important. There are there are really all these elements that do not really make that they really didn't have a place in some of the more traditional dissidents. And I think that that's definitely a great way off. Sort of refreshing are way off, even considering education and curriculum. >> When you talk to some like the next to the younger generations. Is that one of the things that they find are they pleasantly surprised, knowing that I need to actually be pretty well rounded to me? A successful data scientists? It's how I analyzed the data. How I tell a story, is that something that you still find that excites but surprises this younger generation of well, that >> certainly is a component, very important component of the excitement of the sea. Are there the fact that you can really build the story, tell a story, communicated story and oven, in fact, immediately, quickly, I think is a is something that the newer generation really see it assess a great opportunity and, you know, and it tried to me. So I mean, it has been very difficult for more traditional disciplines to have the same level of impact, partly because the communities tend to be very close, very limited with with a lot of scrutiny. I think what we have in India, the scientists, that is really a lot off you no can do attitude the lot off, Really. You know, creative force that is >> behind, you know, >> basically this movement, but in general data science, I think that >> you write. The impacts is so potent and we've seen it and we're seeing it in every industry across the globe. But it's such an exciting time with Gianluca. We thank you so much for sharing some of your time on the program this morning and look forward to hearing more great things that the ice Amy is helping with prospective women in Stem over the next year. >> Absolutely. Thank you very much. >> My pleasure. We want to thank you. You're watching the Cube live from the fourth annual Women and Data Science Conference here at Stanford University. I'm Lisa Martin. Stick around. My next guest will join me in just a moment.

>> Narrator: From the VMware Campus in Palo Alto California, it's The Cube covering Women Transforming Technology. (upbeat music) >> I'm Lisa Martin with the Cube and we are on the ground in Palo Alto with VMware for the third annual, Women Transforming Technology event. Excited to welcome back to the Cube, Lily Chang, VP of strategic transformation here at VMware. Lily it's great to have you back. >> Thank you, it's fantastic to have this event again, for the third time in the history. >> Yes, in fact, I read online that it was sold out within hours and the keynote this morning was... >> Lily: Fantastic >> Fantastic >> And very inspiring. >> Very inspiring. For those of you who don't know, Laila Ali was the keynote this morning. What a great analogy, not just being a sports star, but being someone, a woman, in a very male dominated industry who just had this sort of natural confidence that she just knew what her purpose was. I thought that was a very inspiring message for those of us in tech as well. >> Yeah, and it's also very key that women leaders, such as herself, is willing to come out and share the story, and be the role model and set a path and show the example for the younger generation to follow and to look up to. That is incredible. >> I love for one of the things she said, Lily, when she said she still sometimes kind of loses sight and has to reignite that inner warrior. I thought that was a really important and empowering message too that even really strong women who are naturally confident still have times where they have to kind of remind themselves of what their purpose is. I just thought that was a very impactful statement and I think regardless of any industry you're in. >> That is absolutely true. I mean, we're only human, right? So every one of us experiences challenges in life so there are times even all genders, you're going to bump into road blocks, you're going to bump into challenges and then you need to self motivating and lift yourself up and rise to the ocassions of the challenge. A lot of times these changes, and I'm sure it's true for her as well, that actually make her a better leader. >> Definitely. So you are one of the board members of Women Who Code. This is something that's very near and dear to VMwear's heart. VMwear got involved in 2016 when it was about a 10,000 person organization. >> Actually, a little bit less than that. >> A little less than 10,000? And now it's? >> We were very young. >> And now how large is it? >> It's 137,000 members globally, 20 counties, 60 cities. >> So what's the mission of Women Who Code? >> The mission is very simple. Basically we want to basically help all women that inspire and excel in their technical career journey and in their career development. So that's basically the simple mission statement and for that a very critical thrust that Women Who Code has and kind of coincide with VMware's community vision, is basically technical woman community. So they were very young but we saw the passion, we saw the commitment, and we believed that this is a great mutual opportunity because we want to be a global company. We want to not only view leadership within U.S., we wanted it to be in NIA, to be in APJ, We have R & D research offices everywhere and so we basically collaborated with Women Who Code and that has been a very successful leadership program which only work with them. And they basically blossomed under the collaboration and we're not the only company but we are the one of two founding partner in sponsor for Women Who Code. >> It's grown dramatically as you said. >> Lily: Dramatically. >> Yeah, just a couple of years since you've been involved with VMware. What are a some of things that have surprised you about, not just the growth, but about some of the lesson that maybe you've learned by watching some of these other women come into this organization and be inspired and impact their careers? >> So I see the story, both in VMware woman leadership, and also in outside community woman leadership. Right? So what I see is all these woman basically have the passion but they were a little bit worried about let it come out but when you're actually in a community you're supporting one and other and you have that platform where they feel very comfortable to communicate, network, share, and learn, and so basically that is a very powerful thing and I see the growth and the booster of the potential, it's kind of like we lift them up all of a sudden. Right? One of the stories recently is that, for example, on the external side, We have basically a Canada city director is all volunteer positions. Right. And within a year, she actually moved from a line management position to basically to a director position because the city director role basically expose you to basically get the community view out and that encourage you and challenge you to basically has hands on soft leadership skill and so a lot of the technical woman have a lot of technology and a lot of the technologist mentality but you need to accompany that with a lot of the soft skill. And then the combination of the two that makes a perfect combination. And we see a lot of that in our VMware women as well. So we set out to do basically cities in China, we actually opened China for Women Who Code. It was zero member, and now it has like 3,000-4,000 members. It's actually in China. It's a little bit of a difficult mysterious place. Right? But we made it happen in Beijing. We made it happen in Shanghai. And it's basically participate by a lot of the local company, not just multi-national company. And in India we actually open it up, and in India now is blossomed like crazy so there are like since VMware's opening up in Bangalore basically there are three other cities that joined in. India is like basically a rose in blossoming peak point right now. And we also opened up a Sophia, so basically we work with women who go to do a corporate leadership program. And within the first year, where we appointed some of the city directors from our women, basically we have experience about a 50% promotion rate and pretty much 100% retention rate. >> Lisa: Wow. >> Yeah. >> 50% promotion and 100% retention is incredible. >> It is incredible, so I see that miracle happening and then I become very convinced after year one and then I've also learned that I'm not the only leader in the world that believes in this. That's the reason why they blossom like crazy. >> I imagine growing up in China, I was reading a little bit about your story, that the expansion in China must mean something a bit personal for you as well. It sounds like you were a bit fortunate though, with your parents saying "hey," you had two choices when you graduated from college, flight attendant, or secretary and your parents thought "she should have more options that that." So maybe kind of full circle, how was that for you when those two in Shanghai and Beijing opened? >> To me, I feel like, that is what is 21st century supposed to be. I wish it were true in the 19th century and but bottom line is, minor correction, actually I did interview for those two positions. I was rejected. I was not qualified. >> Lisa: Lucky VMware. >> Yeah. (laughing) Actually lucky United State. >> There you go. >> So basically my dad and my mom, they basically raised me up very differently in that era. They basically feel that they give me kind of almost a virtual space where I do not feel there is any difference between genders. They always made me feel like I'm a equal citizen in the family. I have the same speaking right, my dad, my mom both foster me that so when they learned that I could not get those two possible jobs and I was very well educated, graduated from the best university in the island, quoting my dad, he basically "invested on me," right? So he basically said "well" what he needs to do is "continue to invest in me." So that's the reason why he exported me to United States and then basically I went to the graduate school here and then since then I been very blessed. So this is almost like the Beijing and Shanghai success of the Women Who Code. It's almost like I'm giving it back to my origin. Right? And I'm bringing a lot of the blend between the western and eastern culture together. Right? To open that up which is fantastic and basically in the global environment to make it very diverse and inclusive at the same time. >> So you had really strong parents who instilled this belief in you that you could do anything. When we look at some of the statistics that show that less than 25% of technical roles are held by women and then we also look at the retention, the attrition is so high in tech. What were some of the things that kept you kind of focused on your dreams? How did you kind of foster that persistence? And I'm wondering what your advice is for women who are in tech and might be thinking of leaving. >> Well, very interesting, so first advice I have is, basically believe in yourself and dream very big. Because that, and the second this is never afraid of change. Change is always a good thing and that has been throughout my growth in a foreign country as well as here. Right? And I remember when I was in the university, even thought it was the best university, and I actually changed department and major twice and the third time I attempted to do it, because at that time I told my dad, say "hey, I heard there's this cool computer science thing I really want to go do" he did some calculation and said "look, if you transfer again, the third time, it will take you five to six years to graduate" so he said "no, just stick with it and then later on you want to move, go ahead." Right? So in grad school I changed again and I was very blessed that there are a lot of sponsors and mentors. Not just my parents. Throughout my growth and throughout my journey in the career basically really foster and help me, supported me, give me a lot of advice, so I'm a big believer in mentorship and sponsorship and that's what I believe the technical woman community will offer. It's kind of a genetically built it within that philosophy in the community. Right? It doesn't matter which forum. It is basically bringing in the common belief and the vision together and it's basically peer to peer mentorship and because there are different walks and different levels of women and technologist in that community then you actually could do the tiering and peering and basically help people to either inspire, basically move into new career journey, or elevating themselves. So I'm a very big believer in mentorship and sponsorship. >> Speaking of change, we talked about the changes you've made previously. You've made a big change from R & D to financier. >> Lily: That's correct. >> The very first at VMware to do that? >> Lily: Yes, very first... >> Tell us about kind of the impetus and what excited you and what you are benefiting from. >> Well, I'd been in the R & D career for a couple decades and so every ten years I look at my resume and then I kind of try to have an out of body experience to basically advise myself and say, what would you do differently, so that you actually are setup for the growth for the next ten years. Right? So when I look at my career about a year ago I basically said to myself and said "well, you've got enough R & D experience, you made enough investment. For you to be in the next journey you really need to have the business experience." And even though I have basically with VMware's support and sponsorship I did go back to the business school and got kind of the Berkeley business certificate and I got lots of great executives supporting me. But the reality is if you don't do that role, day in and day out, and really experience it blended into your DNA, it's not going to come natural. Right? And I don't want to be an imposter, so essentially I made a fairly major determination that I want to basically switch into business world. So I'm kind of a unique case in the sense that I'm both over-qualified and under-qualified at the same time. I'm very lucky that I have a lot of the executive sponsorship that I was able to find a perfect role that allowed me to learn and excel and basically be inspired basically in my role today and that is something fantastic. Only after I transfer that's where I learn that I'm actually the first employee in VMware's history that moved from R & D to finance and I still remain as the only one so far and I hope that my success can actually inspire more R & D people because I truly believe that a lot of times when you can actually can look at from the other lens it would just simply make you be able to do your original job better. Like right now, I would tell my old R & D self that some of the decision I made I would have debated and petitioned and argued and thought about it in a completely different way because my thinking has shift which I think is a very healthy shift. >> I agree, and you know, one of the things that Laila Ali said this morning was basically encouraging people to get uncomfortable, to be comfortable and that's, you talked about change, absolutely there's so many opportunities and we know that on one level but it can be pretty intimidating to change something. But I love also what you said. I think there's a parallel with saying now that you have this business experience looking through that other lens at R & D, you would have made decisions differently and I think that is very reflective and an opportunity for organizations to invest in creating a more diverse executive team. When you bring in that though diversity. >> Lily: Exactly. >> And it just opens the door, not just seeing things through different lenses and perspectives whether we're talking about gender or what not, but the profitability that can come from that alone is tremendous. >> Yeah, so for example one of the things that there is a statistics actually based on McKinsey for company that basically has reasonable percentage blend of woman leadership actually grows better and makes much sounder decision and so the experience I have moving from R & D to business and then now I work still very closely with R & D community and the product business unit, basically that's kind of a testemonial for that because the decision making all of a sudden is multi facet. And you always will be able to make a better decision and a sound decision. Now, you will be able to see a different risk at a different level, and we will be communicating in a more common language, like I used to not be able to speak the business tone and the business language, now I actually can be that effective communication bridge, which I find it very powerful and very exciting and very illuminating in terms of just the whole shift, make it a very worth while actually. It's just a very fantastic personal and professional experiences so far. >> You studied that Mckinsey report and that was actually mentioned this morning that the press release that VMwear did with the Stanford Institute investing 15 million in building a womens innovation lab to study the barriers, identify how to remove those barriers, but in that press release McKinsey report found that, and this is shocking, that companies that have more diversity at the executive level, are 21% more profitable. >> Lily: Exactly. >> That's a huge number. >> That's because you actually, for business, right? The technology moves so fast and there are so many different factors will be coming in hitting the business, giving business decision, you just go down a unique lane and not basically bringing all the different facets of perspective, you tend to basically gradually work yourself into a corner or you may just believe what you want to believe. Right? So that's where the other genders perspective or even the inclusive culture will bring you, basically. So this is my firm belief. Right? It's just in a different dimension basically. >> And I think that's great advice for all walks of life Lily. Thank you so much for stopping by The Cube and sharing with us what you're doing with Women Who Code and congratulations on being the first VMware to successfully transition from R & D to finance. >> Yeah, I actually hit my one year anniversary. >> Oh congratulations and thanks so much for your time. >> Thank you. >> We want to thank you for watching the cube. I'm Lisa Martin, on the ground at Women Transforming Technology VMware. Thanks for watching. (digital music)

(Latin music) >> Narrator: Live, from San Juan, Puerto Rico, it's theCUBE! Covering Blockchain Unbound. Brought to by Blockchain Industries. (Latin music) >> Welcome back to our exclusive Puerto Rico coverage, here, this is theCUBE for Blockchain Unbound, the future of blockchain cryptocurrency, the decentralized web, the future of society, the world, of work, et cetera, play, it's all happening right here, I'm reporting it, the global internet's coming together, my next guest is Fred Krueger, a founder and CEO of a new innovative approach called WorkCoin, the future of work, he's tackling. Fred, great to see you! >> Thank you very much, John. >> So we saw each other in Palo Alto at the D10e at the Four Seasons, caught up, we're Facebook friends, we're LinkedIn friends, just a quick shout out to you, I saw you livestreaming Brock Pierce's keynote today, which I thought was phenomenal. >> Yeah, it was a great keynote. >> Great work. >> And it's Pi Day. >> It's Pi Day? >> And I'm a mathematician, so, it's my day! (Fred laughs) >> It's geek day. >> It's geek day. >> All those nerds are celebrating. So, Fred, before we get into WorkCoin, I just want to get your thoughts on the Brock Pierce keynote, I took a video of it, with my shaky camera, but I thought the content was great. You have it up on Facebook on your feed, I just shared it, what was your takeaway of his message? I thought it was unedited, obviously, no New York Times spin here, no-- >> Well first of all, it's very authentic, I've known Brock 10 years, and, I think those of us who have known Brock a long time know that he's changed. He became very rich, and he's giving away, and he really means the best. It's completely from the heart, and, it's 100% real. >> Being in the media business, kind of by accident, and I'm not a media journalist by training, we're all about the data, we open our datas, everyone knows we share the free content. I saw the New York Times article about him, and I just saw it twisted, okay? The social justice warriors out there just aren't getting the kind of social justice that he's actually trying to do. So, you've known him for 10 years, I see as clear as day, when it's unfiltered, you say, here's a guy, who's eccentric, smart, rich now, paying it forward? >> Yep. >> I don't see anything wrong with that. >> Look, I think that the-- >> What is everyone missing? >> There's a little jealously, let's be honest, people resent a little bit, and I think part of it's the cryptocurrency world's fault. When your symbol of success is the Lamborghini, it's sort of like, this is the most garish, success-driven, money-oriented crowd, and it reminds me a little bit of the domain name kind of people. But Brock's ironically not at all that, so, he's got a-- >> If you look at the ad tech world, and the domain name world, 'cause they're all kind of tied together, I won't say underbelly, but fast and loose would be kind of the way I would describe it. >> Initially, yes, ad tech, right? So if you look at ad tech back in say, I don't know, 2003, 2004, it was like gunslingers, right? You wanted to by some impressions, you'd go to a guy, the guy'd be like, "I got some choice impressions, bro." >> I'll say a watch too while I'm at it. >> Yeah, exactly. (John laughs) That was the ad tech world, right? And that world was basically replaced by Google and Facebook, who now control 80% of the inventory, and it's pretty much, you go to a screen, it's all service and that's it. I don't know if that's going to be the case in cryptocurrencies, but right now, initially, you sort of have this, they're a Wild West phenomenon. >> Any time you got alpha geeks, and major infrastructure application developer shift happening, which is happening, you kind of look at these key inflection points, you need to kind of have a strong community self-policing policy, if you look at the original DNS days, 'cause you remember, I was there too, Jon Postel, rest in peace, godspeed, we all know what he did, Vint Cerf with TCP/IP, the core dudes, and gals, back then, they were tight! So any kind of new entrants that came in had to prove their worth. I won't say they were the most welcoming, 'cause they were nervous of people to infect the early formation, mostly they're guys, they're nerds. >> Right, so I think if you look back at domain names, back in the day, a lot of people don't know this, but Jon Postel actually kept the list of domain names in a text file, right? You had basically wanted a domain name, you called Jon up, and you said, "I'd like my name added to the DNS," and he could be like, "Okay, let me add it "to the text file." Again, these things all start in a very sort of anarchic way, and now-- >> But they get commercial. >> It gets commercial, and it gets-- >> SAIC, Network Solutions, in various time, we all know the history, ICANN, controlled by the Department of Commerce up until a certain point in time-- >> Uh, 'til about four years ago, really. >> So, this is moving so fast. You're a student of the industry, you're also doing a startup called WorkCoin, what is the formula for success, what is your strategy, what are you guys doing at WorkCoin, take a minute to explain what you guys are doing, your team, your approach-- >> So let's start with the problem, right? If you look at freelancing, right now, everybody knows that a lot of people freelance, and I don't think people understand how many people freelance. There are 57 million people in America who freelance. It's close to 50%, of us, don't actually have jobs, other than freelancing. And so, this is a slow moving train, but it's basically moving in the direction of more freelancers, and we're going to cross the 50% mark-- >> And that's only going to get bigger, because of virtual work, the global workforce, no boundaries-- >> Right, and so it's global phenomena, right? Freelancing is just going up, and up, and up. Now, you would think in this world, there would be something like Google where you could sit there, and go type patent attorney, and you could get 20 patent attorneys that would be competing for your business, and each one would have their price, and, you could just click, and hire a patent attorney, right? Is that the case? >> No. >> No, okay. >> I need a patent attorney. >> So, what if you have to hire a telegram manager for your telegram channel? Can you find those just by googling telegram manager, no. So basically-- >> The user expectation is different than the infrastructure can deliver it, that's what you're basically saying. >> No, what I'm saying is it should be that way, it is not that way, and the reason it's not that way is that basically, there's no economics to do that with credit cards, so, if you're building a marketplace where it's kind of these people are find each other, you need the economics to make sense. And when you're being charged 3.5% each way, plus you have to worry about chargebacks, buyer fraud, and everything else, you can't built a marketplace that's open and transparent. It's just not possible. And I realized six months ago, that with crypto, you actually could. Not that it's going to be necessarily easy, but, technically, it is possible. There's zero marginal cost, once I'm taking in crypto, I'm paying out crypto, in a sort of open marketplace where I can actually see the person, so I could hire John Furrier, not John F., right? >> But why don't you go to LinkedIn, this is what someone might say. >> Well, if you go to LinkedIn, first of all, the person there might not be in the market, probably is not in the market for a specific service, right? You can go there, then you need to message them. And you just say, "Hey, your profile looks great, "I noticed you're a patent attorney, "you want to file this patent for me?" And then you have to negotiate, it's not a transactional mechanism, right? >> It's a lot of steps. >> It's not transactional, right? So it's not click, buy, fund, engage, it just doesn't work that way. It's just such a big elephant in the room problem, that everybody has these problems, nobody can find these good freelancers. What do you end up doing? You end up going to Facebook, and you go, "Hey, does anybody know any good patent attorneys?" That's what you do. >> That's a bounty. >> Well, it's kind of, yeah. >> It's kind of a social bounty. "Hey hive, hey friends, does anyone know anything?" >> It's social proof, right? Which is another thing that's very important, because, if John, if you were-- >> Hold on, take a minute to explain what social proof is for the folks. >> Social proof is just the simple concept that it's a recommendation coming from somebody that you know, and trust. So, for example, I may not be interested in your video services, John, but I know you, and I am in the business of a graphic designer, and you're like, "Fred, I know this amazing graphic designer, "and she's relatively cheap." Okay, well that's probably good enough for me to at least start looking at her work, and going the next step. On the other hand, if I'm just looking at 100 graphic designers, I do not know. >> It's customized contextual data, around a specific transaction from a trusted source. So you socially, are connected to, or related. >> It, sort of, think about this, it doesn't even have to be a source that you know, it could be just a source that you know of, right? So, to use the Brock example again, Brock's probably not going to be selling his services on my platform, but what if he recommends somebody, people like giving the gift of recommendation. So Brock knows a lot of people, may not be doing as well as him, right? And he's like, "Well, this guy could be a fantastic guy "to hire as social media manager," for example. Helping out a guy that needs a little bit of work. >> And endorsement's a major thing. >> It is giving something, right? You're giving your own brand, by saying, "I stand behind this person." >> Alright, so tell me about where you are with WorkCoin, honestly, people might not know your background, if you check him out on LinkedIn, Fred Krueger, mathematician, Stanford PhD, well-educated, from a centralized organization, like Stanford, has a good reputation, you're a math guy, is there math involved? Obviously, Blockchain's math related, you got crypto, how are you guys building this out, share a little bit of, if you can, show a little leg on the tech-- >> The tech is sort of simple. So basically the way it is, is right now it's built in Google Cloud, but we have an interface where you can fund the thing, and so it's built, first of all, that's the first thing. We built it on web and mobile. And you can basically buy WorkCoins from the platform itself, using Ethereum, and also, we've integrated with Sensei, a different token. So, we can integrate with different tokens, so you're using these tokens to fund the coin, to fund your account, right? And then, once you have the tokens in your account, you can then buy services with them, right? And then the service provider, the minute they finish delivery of the service, to your expectation, they get the coin in their account, and then they can transfer that coin back into Ethereum, or Bitcoin, or whatever, to cash out. >> Okay, so wait, now that product's built, has the coins been issued? Are you guys doing an ICO? Are you raising money? >> So we're in the middle of an ICO-- >> Private? >> Private, only for now. So we've raised just under $4,000,000-- >> Great, congratulations. >> I have no idea if that's good or not-- >> Well, it's better than a zero (laughs). >> It's better than zero, right? It is better than zero, right? >> So there's interest obviously. >> Yeah, so look, we've got a lot of interest in our product, and I think part of the interest is it's very simple. A lot of people can go, "I think this thing makes sense." Now, does that mean we're going to be completely successful in taking over the world, I don't know. >> Well, I mean, you got some tailwinds at your back. One, the infrastructure in e-commerce, and the things that you're going after, are 20-year-old stacks. Number two, the business model, and expectation of the users, is shifting radically, and expectations are different, and there's no actual product that does it (laughs), so. >> So a lot of these ICOs, I think they're going to have technical problems actually building into the specification. 'Cause it's difficult, when you're dealing with the Blockchain, first of all, you're building on some movable platform, right? I met some people just today who are building on Hash-Craft, now, that's great, but Hash-Craft is like one day old, you know? So you're building on something that is one day old, and they've just announced their coin five minutes ago, you know. Again, that's great, but normally as a developer myself, I'm used to building on things that are years old, I mean, even something that's three years old is new. >> This momentum going on, that someone might want to tout Hash-Craft for is, 'cause it's got momentum-- >> It's got total momentum. >> They're betting on an ecosystem. But that brings up the other thing I want to get your thoughts on, because we've observed this at Polycon, we've been watching the industry landscape now, onto our 10th year, there's almost an ecosystem stake in the ground. The good news is, ecosystem's developing. You got entrepreneurs, you got projects, you got funding coming in, but as it's going to be a fight for the ecosystem, because you can't have zillion ecosystems, eventually they have to be-- >> Well, you know-- >> Or can you? >> Here's the problem, that everybody's focused on the plumbing right now, right, the infrastructure? But, what they should be focusing it on is the app. And I've a question for you, and I've asked this question to my advisors and investors, which are DNA Fund, and I say-- >> Let's see if I get it right, it's a test here on the spot, I love this, go. >> Okay, so here's the question, how many, in your wallet right now, on your mobile phone, show me how many Blockchain apps you have right now. >> Uh, zero, on my phone? >> Okay, zero. >> Well I have a burner phone for my other one, so (laughs). >> But on any phone, on any phone that you possess, how many Blockchain apps do you have on your phone? >> Wallet or apps? >> An app that you-- >> Zero. >> An app, other than a wallet, zero, right? Every single person I've asked in this conference has the same number, zero. Now, think about this, if you'd-- >> Actually, I have one. >> Uh, which one? >> It's called Cube Coin. >> Okay, there you go, Cube Coin. But, here's the problem, if you went to a normal-- >> Can I get WorkCoin right now? >> Yeah, well not right now, but I have it on my wallet. So for example, it's in test flight, but my point is I have a fully functional thing I can go buy services, use the coin, everything, in an app. I think this is one of the things-- >> So, hypothetically, if I had an application that was fully functional, with Blockchain, with cryptocurrency, with ERC 2 smart contracts, I would be ahead of the game? >> You would be ahead of the game. I mean, I think-- >> Great news, guys! >> And I think you absolutely are thinking the right thinking, because, everybody's just looking at the plumbing, and, look, I love EOS, but, it's sort of a new operating system, same as Hash-Craft, but you need apps to run on your thing-- >> First of all, I love chatting with you, you're super smart, folks out there, Fred is someone you should check out, you got great advisor potential. You're right on this, I want to test something out with you, I've been thinking about this for a while. If you think about the OSI model, OSI stack, for the younger kids, that was a key movement that generated the key standards in the stack for inner networking, and physical devices. So, it was started from the bottom up. The top of the stack actually never standardized, it became the presentation session layer, they differentiated, then eventually became front end. If you look at what's happening now, the top of the stack is really the ones that's standardizing, or standardizing with business logic, the bottom of the stack has many different versions of say, Blockchain, so the question is is that, it might be the world that will never have a TCP/IP moment, it might be that the business app logic will dictate to some sort of abstraction layer, down to programmable plumbing. You see this with cloud with DevOps. So the question is, do see it that way? I'm thinking out loud here, but when I'm seeing the trend here, it's just that, people who make the business logic decisions first, and nail those, that they're far more successful swapping out and hedging on the plumbing. >> Look, I think you mentioned the word alpha geek, and I think you've just defined yourself as an alpha geek. Let's just go in Denzel Washington's set in the movie Philadelphia, talk to me like I'm a five year old, okay? What is the problem you're solving? >> The app, you said it, it's the app! >> My point is like, everybody is walking around with apps, if the thing doesn't fit on an app, it's not solving any problem, that's the bottom line. I don't care whether you're-- >> You're validating the concept that all that matters is the app, the plumbing will sort itself out. >> I think so. >> Is that a dependency, or is it an interdependency? >> What do you need in a plumbing? Here's how I think you should think. Do I need 4,000 transactions per second? I would say, rarely, most people are not sitting there going, "I need to do 4,000 transactions per second." >> If you need that, you've already crossed the finish line, you probably want a proprietary solution. >> Just to put things in perspective, Bitcoin does 300,000 transactions per day. >> Well, why does Ripple work? Ripple works because they nailed the business model. >> I'll tell you what I think of Ripple-- >> What's your take? >> Why ripple works, I think all, and I'm not the first person to say this, but I think that, the thing that works right now, the core application of all this stuff, is money, right? That's the core thing. Now, if you're talking about documents on the Blockchain, is that going to be useful, perhaps. In a realist's say in the Blockchain, perhaps. Poetry on the Blockchain, maybe. Love on the Blockchain? Why ban it, you know? >> Hey, there's crypto-kiddies on the Blockchain, love is coming next. >> Love is coming next. But, the core killer app, the killer app, is money. It's paying people. That is the killer app of the Blockchain right now, okay? So, every single one of the things that's really successful is about paying people. So what is Bitcoin? Bitcoin is super great, for taking money, and moving it out of China, and into the United States. Or out of Nigeria, and into Switzerland, right? You want to take $100,000 out of Nigeria, and move it to Switzerland? Bitcoin is your answer. Now, you want to move money from bank A to bank B, Ripple is your answer, right? (John laughs) If you want to move money from Medellin, Colombia, that you use in narcos, Moneiro is probably your crypto of choice, you know? (John laughs) Business truly anonymous. And I think it's really about payment, right? And so, I look at WorkCoin as, what is the killer thing you're doing here, you're paying people. You're paying people for work, so, it's designed for that. That's so simple. >> The killer app is money, Miko Matsumura would say, open source money, that's his narrative, love that vision. Okay, if money's the killer app, the rest is all kind of window dressing around trying to race to-- >> I think it's the killer, it's the initial killer app. I think we need to get to the point where we all, not all of us, but where enough of us start transacting, with money, with digital money, and then after digital money, there will be other killer apps, right? It's sort of like, if you look at the internet, and again, I'm repeating somebody else's argument-- >> It's Fred Krueger's hierarchy of needs, money-- >> Money starts, right? >> Money is the baseline. >> The initial thing, what was the first thing of internet? I was on the internet before it was the internet. It was called the ARPANET, at Stanford, right? I don't know if you remember those days-- >> I do remember, yeah, I was in college. >> But the ARPANET, it was email, right? We had the first versions of email. And that was back in 1986. >> Email was the killer app for 15, 20 years. >> It was the killer app, right? And I think-- >> For 15 or 20 years. >> Absolutely, well before websites, you know? So I think, we got to solve money first. And I bless everybody who has got some other model, and maybe they're right, maybe notarization of documents on the internet is a-- >> There's going to be use cases for Blockchain, some obvious low-hanging fruit, but, that's not revolutionary, that's not game-changing, what is game-changing is the promise of a new decentralized infrastructure. >> Here's the great thing that's absolutely killer about what this whole world is, and this is why I'm very bullish, it's, if you look at the internet of transmitting value, from one node to another node, credit cards just do not do a very good job of that, right? So, you can't put a credit card inside a machine, very well, at all, right? It doesn't work! And very simple reason, why? Because you get those Amex fraud alerts. (John laughs) Now the machine, if he's paying another machine, the second machine doesn't know how to interpret the first machine's Amex fraud alerts. So, the machine has to pay in, the machine's something that's immutable. I'm paying you a little bit of token. The classic example is the self-driving car that pays the gas pump, 'cause it's a gas self-driving car, it pays it to fill up, and the gas pump may have to pay its landlord in rent, and all of this is done with tokens, right? With credit cards, that does not work. So it has to be tokens. >> Well, what credit cards did for other transactions a little bit simplifies your things, there's a whole 'nother wave coming, that just makes it easier and reduces the steps. >> It reduces the friction, and that's why I think, actually, the killer app's going to be marketplaces, because, if you look at a marketplace, whether it's a marketplace like ours, for freelancers, or your marketplace for virtual goods, and like wax, or whatever it is, right? I think marketplaces, where there's no friction, where once you've paid, it's in. There's no like, I want my money back. That is a killer app, it's an absolute killer app. I think we're going to see real massive consumer adoption with that, and that's ultimately, I think, that's what we need, because if it's all just business models, and people touting their 4,000 transactions a second, that's not going to fly. >> Well Fred, you have a great social graph, that's socially proved, you got a great credentials, in mathematics, PhD from Stanford, you reinvent nine, how many exits? >> Nine exits. >> Nine exits. You're reinventing freelancing on the Blockchain, you're an alpha geek, but you can also explain things to a five year old, great to have you on-- >> Thank you very much John. >> Talk about the WorkCoin, final word, get the plugin for WorkCoin, can people use it now, when is it going to be available-- >> Look, you can go check out our platform, as Miko said, Miko's an advisor, and Miko said, "Fred, think of it as a museum, "you can come visit the museum, "you're not going to see a zillion, "but you can do searches there, you can find people." The museum is not fully operational, right? You can come and check it out, you can take a look at the trains at the museum, the trains will finally operate once we're finished with our ICO, we can really turn the thing on, and everything will work, and what I'd like you to do, actually, you can follow our ICO, if you're not American, you can invest in our ICO-- >> WorkCoin dot-- >> Net. >> Workcoin.net >> Workcoin.net, and, really, at the end, if you have some skill that you can sell on the internet, you're a knowledge worker, you can do anything. List your skill for sale, right? And then, that's the first thing. If you're a student at home, maybe you can do research reports. I used to be a starving student at Stanford. I was mainly spending my time in the statistics department, if somebody said, "Fred, instead of grading "undergrad papers, we'll pay you money "to do statistical work for a company," I would be like, "That would be amazing!" Of course, nobody said that. >> And anyways, you could also have the ability to collaborate with some quickly, and do a smart contract, you could do some commerce, and get paid. >> And get paid for it! >> Hey, hey! >> How 'about that, so I just see-- >> Move from the TA's grading papers payroll, which is like peanuts-- >> And maybe make a little bit more doing something that's more relevant to my PhD. All I know is there's so many times where I've said, my math skills are getting rusty, and I was like, I'd really wish I could talk to somebody who knew something about this distribution, or, could help me-- >> And instantly, magically have them-- And I can't even find them! Like, I have no idea, I have no idea how I would go and find people at Stanford Institute, I would have no idea. So if I could type Stanford, statistics, and find 20 people there, or USC Statistics, imagine that, right? That could change the world-- >> That lowers the barriers, friction barriers, to-- >> Everybody could be hiring graduate students. >> Well it's not just hiring, collaborating too. >> Collaborating, yeah. >> Everything. >> And any question that you have, you know? >> Doctor doing cancer research, might want to find someone in China, or abroad, or in-- >> It's a worldwide thing, right? We have to get this platform so it's open, and so everybody kind of goes there, and it's like your identity on there, there's no real boundary to how we can get. Once we get started, I'm sure this'll snowball. >> Fred, I really appreciate you taking the time-- >> Thanks a lot for your time. >> And I love your mission, and, we support you, whatever you need, WorkCoin, we got to find people out there to collaborate with, otherwise you're going to get pushed fake news and fake data, best way to find it is through someone's profile on WorkCoin-- >> Thanks. >> Was looking forward to seeing the product, I'm John Furrier, here in Puerto Rico for Blockchain Unbound, Restart Week, a lot of great things happening, Brock Pierce on the keynote this morning really talking about his new venture fund, Restart, which is going to be committed 100% to Puerto Rico, this is where the action will be, we will be following this exclusive story, continuing, we'll be back with more, thanks for watching. (soothing electronic music)