Real World Assets – Palmyra’s Blockchain Breakthrough

Episode by Peter Bui on December 9th, 2023

The Impact of Blockchain on Real World Assets

In the latest episode of the Learn Cardano Podcast, hosts Dan and Sam engage in a riveting discussion about the tokenization of real world assets with Palmyra. This concept, a crucial link between physical commodities and digital blockchain technology, promises a revolution in how we perceive and manage assets. The interview sheds light on several key aspects of this innovation, from the basics of asset tokenization to its implications for the Cardano and Ergo ecosystems.

Tokenization of Assets: A Game Changer

Tokenization, the process of converting rights to an asset into a digital token on a blockchain, is rapidly transforming the landscape of real world assets. This technology allows for fractional ownership, increased liquidity, and enhanced transparency in transactions involving physical assets such as commodities, real estate, and art.

Palmyra’s Role in the Cardano and Ergo Ecosystems

Palmyra, a platform at the forefront of this innovation, is actively integrating real world assets into the Cardano and Ergo ecosystems. By leveraging the unique features of blockchain, such as immutability and decentralization, Palmyra aims to create a more inclusive and efficient market for commodities and other physical assets.

Key Takeaways from the Interview:

  1. Experiences at the Cardano Summit: The team’s participation in the summit provided valuable insights into the growing interest in blockchain applications for asset management.
  2. Expansion into Turkish Commodities: Palmyra’s venture into the Turkish commodities market demonstrates the global potential of asset tokenization.
  3. Regulatory Environment and Adoption: Understanding and navigating the regulatory frameworks is crucial for the integration of real world assets in blockchain.
  4. Community Building and Engagement: The emphasis on community in the Cardano and Ergo ecosystems underlines the importance of collaborative growth and user education.
  5. Future Prospects and Innovations: Palmyra’s roadmap includes further expansion, platform enhancements, and continued advocacy for blockchain integration in traditional markets.

Palm Token ISPO

More information about the PALM token ISPO can be found at the Palm Token website.

Delegation for the ISPO starts on the epoch starting 11th December 2023. More information about the Palm ISPO can be found on the Maestro website.

For further reading on asset tokenization and blockchain technology, consider these resources:

Text Transcript

00:00
Dan and Sam are joining me again on this episode to talk through Palmyra and all the things and updates that the team have been doing. I know there’s been a lot of activity. I’m pretty excited to learn about everything that’s going on at the moment, but the guys will take us through it all. But gentlemen, welcome back to the podcast. Thanks for having us back. Yeah, thanks Pete. Good to be back on the show. So Dan, first off,

00:25
I know you’ve been doing a lot of presentations from the summit. I’ve seen you on stage and talking in Dubai and all that. And then you did a lot of traveling recently as well. Can you give us an update about what you guys been up to? Yeah. So a lot has happened actually in the past month. I was away for actually three weeks. I did well, little over three weeks. I was in Turkey for, or Turkey for two and a half weeks.

00:54
and at the Cardano Summit before that for five days. So the summit itself was two days, but I was in Dubai for five. Well, first of all, obviously the summit, there was a great, great event. Got to see a lot of our Cardano community there, which is always great and a great to have the opportunity to do. Also met some new Cardano community people, as well as got a chance to introduce

01:23
some of my Turkish associates to the Cardano community who were really blown away by the amount of activity, the amount of projects being built, just the action and the energy that was really, really just kind of almost mind-boggling to them because they’re so used to the EVM ecosystem. I guess the energy there is a bit different because they were just really…

01:51
really excited to say, man, we need to let the EVM people know about this because apparently they just don’t really know as much as we think they do. So that was really exciting. I did a master’s class on real world asset tokenization and in connection with rolling out mass adoption or solutions for.

02:16
mass adoption, which is something that myself, Sam and Zangate have been just really going full throttle on, especially as of lately, this has just been narrative and really kind of sticking to because we believe that the industry needs this push. We need the push to get into mass adoption, into mainstream solutions and just…

02:43
kind of evolve if we are to survive as this global movement that we believe that we are. So yeah, so that was really great. My next stop was Turkey, Istanbul, where I was, well, I came there for the Deaf Connect conference or conferences. They were actually…

03:10
several events around the main event, which were really cool. And yeah, really got to get a better understanding of the EVM ecosystem or ecosystems, which is also, I mean, it’s very important for us to understand that, you know, not to be just super kind of tribalistic about it, because there are a lot of really good builders out there. And

03:36
You know, yeah, I still don’t think that is the best technology by far. I am EUTXO all the way. But you can’t discount the, you know, the real building that happens there. You know, there’s a lot of noise, but there’s also a lot of really good building that we should really kind of, you know, obviously take notice off and, and, and, uh, understand what is good there and maybe try to bring it over to our ecosystem, uh, so that we can build better.

04:04
So yeah, that was an exciting event. Now, aside from the crypto stuff or from the crypto events and from the blockchain events, there was quite a bit of business that was done there. First of all, we signed with a really, it’s a highly reputable blockchain firm in Istanbul called CoinOxus.

04:30
is now our ambassador. So they’re the ZenGate ambassador in Turkey. And what that means is they’re going to be handling pretty much all of our strategic execution, our liaisoning over there with the ecosystem, with the regulators, with all the participants that we want to bring into our

05:00
helping us run the show over there. Does that mean bringing in other crypto companies or companies looking to use your platform for real world asset tokenization? Both, both actually. So, and I got the opportunity to meet several people that were within their network that were actually already tokenizing some things in Turkey, some things like grains and other agricultural commodities.

05:28
that already had working projects that were very interested in working with us, and we most likely will be working with them. Also met with regulators and people that guide the regulators, educators that guide the regulators because a lot of times in these ecosystems, the regulators will listen to the accredited educators, right? So somebody who’s a specialist that say, as a researcher that works at the university,

05:55
is going to be an advisor to a government agency or a government ministry or a ministry. And so those are also people that are really important to connect with because those are the guys that the ministry goes to and say, okay, I don’t really understand this. You do. Are these guys full of it or not? You know, or what does this mean? Or what does that mean? Which is, which is, you know, what you have to do when, when, when you have such a broad

06:24
such a broad bandwidth that you’re running on. Aside from that, we also connected with a network of buyers over there. We are also working right now on bringing on more volume onto the platform, which is also super exciting because Turkey is a very interesting market. Of course, it’s a consumer market. They do drink a lot of tea. They consume a lot of commodities.

06:52
And so of course the import market is really, really interesting to get into. But also Turkey is a, I guess you could say a proxy market for a lot of other countries in the Middle East and in Europe. So a lot of commodities that come in through Turkey go out to say other countries and say, for example, Dubai. Dubai has a lot of Turkish goods that come in.

07:19
to the country, countries like Russia, countries like, you know, France, Germany, the UK, they all benefit from trade that’s done through Turkey. So, yeah, it was also very beneficial to connect with those parties because those are kind of like the movers and shakers. Those are the guys that really are going to be utilizing the platform, like literally directly. That’s our user base right there. Gotcha. It was really, really cool to connect with them. So just a lot of stuff, a lot of stuff.

07:47
I was trying to work out why Turkey, how has that connection come in? Like you’re off in Sri Lanka at the moment and building up your markets there and the suppliers are using the platform and you’ve got a supply on the website. But I didn’t, couldn’t work out why Turkey until that explanation. So that’s absolutely amazing that you’ve made those various connections from the buyers, the advisors in the ecosystem there to try and get it to the right people, which is absolutely amazing. So that’s, that’s a big.

08:15
a tick for you guys. I think that was a very fruitful journey and a trip over there. Absolutely. Yeah, absolutely. So how are they using the platform? Would they just be using the platform to buy directly from the suppliers in Sri Lanka? Are they going to use it to on sell things as well? I’m just trying to get an idea of how their involvement is on the platform. Yeah, maybe I’ll answer that as well, just because Dan’s been quite busy.

08:41
talking at the start and just giving everyone a lot of information. So, you know, there’s a few different use cases. So like Dan was saying, I think Turkey is one of the top five importers of Sri Lankan tea in the world. So there’s a few really big ones like, you know, Iraq, Russia, the Middle East, such as the UAE that are really big importers of Ceylon tea and Turkey’s up there as well. I think the top five. And they have been for quite a while. They import lots of teas from other markets.

09:10
as well. So there’s a clear use case around Turkish buyers trying to source tea directly. So like with a lot of other, I guess you could call Ceylon tea a very specialized commodity. The government regulates it because the product is so authentic and high quality that they’re always quite concerned about people counterfeiting and having fraud and whatnot. So these buyers, they just want

09:37
I guess they want a system they can trust, whether that’s through traceability, technology or direct sourcing opportunities. This is something that they really care about and be able to get something at a good price as well. So, you know, we offer that solution. And the cool thing about Turkey that Dan was talking about is they have a lot of their own customers in other markets. So importing tea directly to Turkey can be quite expensive from a tariff and tax point of view. So they

10:05
they act as a broker to a lot of different markets in Africa and the Middle East and sort of that caucus region as well, which is really awesome, which means the people that get the ultimately taste the teas of the producers that we’re working with are not just in Turkey, they’re not just in the North American region, but all over the world. So that brings a lot of excitement to me personally, just because I get to know this stuff is really good quality product and people from around the world will get the

10:35
taste it. So that’s that. And then the other bit that people might not know is Turkey is a really big primary producer of commodities. They have about 60 commodity exchanges, you know, on the ground. And they probably have one of the best, I guess, legal systems around property rights of commodities, and some of the best infrastructure out there as well in terms of having exchanges, there’ve been some attempts at creating

11:01
localized exchanges in markets near Turkey, especially some of the Soviet states that haven’t actually gone particularly well. But Turkey is basically right for disruption from a technology stack point of view. There’s a lot of really good laws, really good existing solutions. And they’re ready to basically take that next step in terms of what tokenization can do, whether that’s from a financing point of view, a market access point of view, or even just things like traceability and whatnot.

11:30
It’s a really, it’s an under tapped market. It’s a really big market as well. So it provides a different flavor in terms of what we’re trying to achieve in terms of Palmyra. So yeah, we’re very excited and Dan’s been spending a lot of time. We’ve got really good contacts over there now as a result.

11:49
That’s amazing. I had no idea. So having some insights into the market and so many opportunities. And you’re right, having that traceability, authentic access to good supply and direct supply as well. So I’m assuming they’re cutting out middlemen and making more profit off this as well. So lots of opportunities there for using the platform and optimizing their processes.

12:19
digital or are they going through like more of a digital transformation for this kind of stuff for their commodity exchanges? Yeah, so it’s kind of a mixed bag, right? So some things are actually pretty digitized, pretty well managed and pretty well run. And then there are things that are not. Like for example, a lot of the

12:44
Well, a lot of the brokers, yeah, they still do business with emails, phone calls, and handshakes. And a lot of that is actually cultural as well. Because for example, in Turkey, the average businessman prefers a face-to-face meeting, a handshake versus this kind of like a touchless transaction, right? So how do you…

13:13
accommodate that while still utilizing a platform like ours, which is basically a platform where you shouldn’t need to have the handshake for the buyer and the seller to do a transaction efficiently, safely, and easily, essentially.

13:38
in Turkey as well as other jurisdictions. We are also deploying teams of, what do we call them? I mean, I call them liaisons, but we have a better name that we’re coming up for them right now, right? It’s success managers. What are they? I think we might have to go to Twitter to get some feedback from the community. Yeah, yeah. We should name them. All right.

14:05
Yeah, essentially, essentially, these are also partners on the ground that go to the buyer, right, or they go to the producer and they work with them to onboard them onto the platform. So you don’t just kind of like throw it at them and say, create an account, just do it yourself or do it on the phone. No, you accommodate the cultural paradigm and you go there.

14:31
You go to their office, you send somebody to their office that knows the platform, that knows how to operate the platform, that works for you and with you. And you have them sit with them and make sure that these people understand how the platform is used, not hold their hand and do things for them, but educate, right? Educate them on how to use the platform. Show them how to utilize it to the best of their, you know, to, to, to the most, the most optimal way for, for their particular use case.

15:01
And then at some point, you know, kind of set them free, you know, and let them do it themselves. And since the barrier of entry is really low on Palmyra, and we made sure of that with the UX of Palmyra, it’s not a huge undertaking. You know, it’s a lot of it is very much like, oh, oh, wow, okay, I know what that is. That’s blah, blah, blah. It’s like, yeah, yeah, yeah, that’s exactly it. But you can actually do a little bit more if you go here and here.

15:31
So it’s almost like it’s familiar to them already, but there’s this extra step that says, oh yeah, but you know how you can do this, but you couldn’t do this, now you can do this too. And so it’s almost like, it’s not like, oh my God, I have to deal with this stuff, I have to deal with that stuff. It’s more like you always see this side of relief on their faces. This is great, so I can do it here and here and I don’t have to go to all these different places to do it.

15:59
So yeah, we have liaisons, we have partners on the ground. We have partners in Turkey now that we’re working with, working with a group that are also importers and exporters themselves. So they are officially out there on the ground, speaking with producers, speaking with brokers and onboarding them onto the platform.

16:26
And we also plan to do this in Sri Lanka as well, to have a team of success liaisons, Palmyra liaisons, to go out there and work with producers and help them utilize the platform to its fullest extent and help onboard new producers and just kind of keep the ball rolling.

16:51
I guess if they’re not using the platform or changing their processes, you would have to adopt or adapt to how they work and how their systems operate at the moment as well. How adaptable is the platform to different markets, different users, different platforms, backend whatever it is? Because you’re tackling Sri Lanka initially and now you’re going over Turkey.

17:18
I’m assuming you’re going to hit many, many more countries soon. Like how adaptable is the platform to how businesses and people operate around the world?

17:28
I mean, you can take that Sam and then I can throw some things in there as well. Yeah, I think there’s a few things to consider. Like the first is, I guess the first is the actual like user experience of like how people and businesses use the platform, like uploading photos and listing their products. In some cases, it’s quite funny, right? Because in like Pete, like you and I, both from Australia, quite a digitally savvy country, like

17:57
switching systems would be quite complicated. Like people would already be using a CRM. They’ve got the inventory, you know, you know, software that they’re using. They’ve got like a payment software. Okay, I go switch from Stripe to this thing, but what happens to my bank account? Like, like that stuff is actually quite complicated. But yeah, the funny thing is when you’re dealing with markets that use email, and in many cases don’t have a website for their own products.

18:24
it’s surprisingly easier to actually get them excited and bought into this shift and this transformation. So, well, firstly, that’s something just to point out, which might not actually be so obvious for everyone, because, you know, maybe many of our listeners, you know, many of the listeners, Pete, of your podcast, you know, come from worlds like this, where it’s actually quite automated, quite systemized. So that’s something to keep in mind. And

18:53
You know, of course, there’s certain things that in the region that we have to take care of. And but but more importantly, each commodity is slightly different as well. So building a stack that it’s modular was very important from the start. So we’d be able to, you know, navigate the as we call in the company, the nuances of the market, whether that’s the actual commodity market itself or the region. The other stuff that gets really obvious really quickly that is different things around like

19:22
payment providers, you know, in some countries, you can’t actually get funds into the country with existing payment providers. So you have to figure out ways around that. You have to figure out ways around compliance from a regulatory point of view. So in order to actually export certain things, you have to hit certain milestones and requirements. Same goes for import importing as well, like certain documents need to be procured and printed out. So we try to do that in a way that is

19:50
is quite manageable and automated. And ultimately what this looks like is that we have two versions of the platform that can be accessed under the one roof. The first is a light version, which perhaps is less market focused, but it’s more like a plug and play solution where anyone can really come on and interact with the platform. And we’ll also have a much more full suite involved.

20:17
a solution where we’re on the ground, we know the market extremely well, and we sort of try to cover everything that you can possibly think of, the edge cases that are dealt with. And we just have to manage the two as we grow and scale. And we’ll find out, I think, over time. But there are lots of learning sort of pain points and headaches along the way around compliance and sort of regulatory stuff that we’ve been navigating.

20:45
The good thing is all of this is just, it’s written down somewhere. So you just have to look it up and figure it out, make a few phone calls and make sure it’s in the system afterwards as a result. So that’s our approach. But the main bit is it has to be modular, it has to be tailored, but also have a few different systems up your sleeve. So people can basically self-select which option they wanna use. Sam said it a few times. We knew that was gonna be…

21:14
what it was going to take to be able to be as compatible as possible to various different types of ecosystems and various different scenarios. That’s what we did. We understand it’s not a cookie cutter solution by any means. There is going to have to be some tweaking involved in every single jurisdiction. One of the reasons why we always conduct the workshops before we actually onboard a jurisdiction completely.

21:44
to understand those nuances and to accommodate those nuances. Also another extra boost to make sure that the jurisdiction is properly accommodated are value-add services, which is something we’re also building out. Things like, for example, crowd forward freight. Things like tools where you basically can…

22:13
put together several shipments from smaller producers that will allow them to save money on shipping because altogether they can say buy a container instead of having to send smaller amounts which cost more, a communication module between the producers to be able to coordinate shipments.

22:39
crop reports and stock reports, again, on chain, available for various types of consumption. So yeah, it’s really kind of, it’s not bespoke, right? Most like 99% of the time, it’s not bespoke, but it’s just a matter of kind of taking all the pieces that we have, all the different pieces of Palmyra and saying, okay,

23:08
In this jurisdiction, it’s like this, right? In this jurisdiction, it’s like this. And just create this modular solution that accommodates nuances. It’s very important to do. This is what separates us from your average marketplace, if you want to call it that. Even with spot trading that we have right now, it still separates us from that average marketplace

23:37
accommodate the commodity trade versus just listing and selling stuff. Just whatever stuff, just listed and sell it. Yeah, it’s a very interesting thing to do as well. You get to learn a lot about the different commodities. You understand the people that are utilizing the platform a lot better, and that just makes for a better product.

24:04
That’s really cool. That’s always good to get an explanation about that kind of stuff. So you have a better understanding of how all the works. Now I’ve got another question. This is completely off topic and off of the original plan, but I’m trying to understand how the blockchain aspects work on the platform. What parts get tokenized? Is there a digital identity involved from the suppliers as well? So we know…

24:31
what was produced by who and by where, how’s the traceability sides of it work? Are the tokens NFTs for each batch that gets sold out and how does all those aspects work? I have a vague idea, I’m just guessing and assuming, but I would love to get an explanation of how the mechanics work in regards to the blockchain side of things and the platform. Yeah, I can jump in to that. I was hoping you’d actually ask the question because you know,

25:00
For those that don’t know and for those that do know, we were very lucky in Fund 10, we got funded a catalyst proposal around minimum ecosystem governance and building. And we’ve actually been spending a lot of time thinking through some of these solutions in more detail than we initially had. And one of the exercises that we’ve been working on with our experts and one of our advisors, Darryl,

25:28
O’Donnell from Continuum Loop, he did a lot of work with input output for a number of years in the DIDS and verifiable credential space. And it’s become very clear that you have all these technologies available out there, whether that’s blockchain technology or AI that’s happening or machine learning on crop reports to understand yields and use of pesticides or ESG tracking or carbon. Like there’s so much stuff happening in the ag tech, like primary producer technology space. Like, like there’s too much stuff really.

25:59
We think blockchain is one of the key bits, but what has become very obvious very quickly is that when you’re going into these unstructured markets, the key goal is put some structure to it first. And as one of the outputs of the exercises, especially in the specialty T space that we’ve been working quite closely in, we’ve noticed that there’s this lack of standardization around quality. There’s a lack of understanding.

26:27
from the buyers and producers point of view around building trust around quality assumptions, around where it’s from. And off the back of that, we’ve brought in someone that’s worked quite closely with United Nations and World Trade Organization type development institutions, and she’s developed this system to grade these T’s. It’s become very obvious that you need something like that, which is completely unrelated to blockchain to build trust in the ecosystem.

26:58
You build trust, you understand, okay, this is tea from Sri Lanka. It’s this type and it is graded this way. And it’s graded this way because it tastes a certain way. It looks at certain way. It smells a certain way. And, and similar to the way you might, you know, grade wines or whiskies, like there are systems out there, but what we need to do is create a unified standard. And once that is able to be done, everything sort of plays itself out. Like, okay.

27:27
Someone’s grading this stuff, you need a did. Okay, once you have a did, you grade it. What happens to the stuff that’s been graded? Okay, so all the stuff around blockchain slowly, slowly, slowly starts to take shape. So now all of a sudden, you’ve got this whole, you’ve got a very small ecosystem of small actors. You have someone that makes the tea, someone that buys the tea and someone that grades the tea. And then you also have a regulator that might connect it all together as well. And blockchain really comes in

27:57
to use here. You have verifiable credentials, you have DIDS, you have the traceability aspect where you can track where it’s from and also embed the certifications from the grading and the regulators along the way as well. And then the final bit that really brings it all together is you can tokenize the asset and tokenize the commodity. And commodities are not just like all the same all the time. They come in, you know,

28:23
harvested in different batches, they’re mined in different batches, they’re produced in different batches. So you need a way to actually show, that slight distinctions in terms of the quality itself. So using NFTs and the non-fungible technologies available, on Cardano and Ergo, allows you to sort of really capture the essence of that. So you have an NFT, and then you’ve got all this embedded information around certifications, the deeds, the traceability attached to it.

28:53
And that is where the beauty lies. And off the back of that, you can borrow money against it and get some form of financing. You can sell it, you can trade it. You can use it as well, ultimately, right? Because many of these commodities are consumed, whether that’s consumed, you know, eaten, or in cases of tea consumed and to brewed. Or in some cases, they’re one part of many parts along the manufacturing line. So…

29:22
This stuff is, it’s incredible, like the actual life cycle of it all, but we’ve had to really strip away the technology itself before we could even apply everything. So yeah, the scope of the use of digital assets and blockchain is quite enormous. It’s just, it’s really important to understand why you’re actually using it in the first place. And the summary of that is there’s a lack of trust, there’s a lack of access, whether that’s the market or the finance or risk.

29:52
or ways to hedge risk. And it’s needed. And it’s quite amazing. We didn’t actually know going in that was this complex or the requirement was there in this level of detail, but it’s quite satisfying knowing that this is the way forward. So we’ve been quite busy with that. That’s on our sort of list of things we have to build out because it…

30:19
you know, the verifiable credentials and the dids piece. And that’s all possible through oracles as well. And that’s something Dan’s been talking about probably from the very start for those that have been listening, you know, over the last two years, basically. So, yeah, all of these pieces are slowly starting to come together. And it’s quite crazy because a lot of the tools have been available in like Cardano and the Ergo ecosystem for a while. Like people have been thinking about oracles, they’ve built oracles. And now it’s like starting to come together. It’s like, oh, OK.

30:48
You’re not just tracking the US dollar price of ADA or the US dollar price of World Mobile Token or the AGIX token. It’s like, no, no, no, no. Like oracles are being used for DIDS, oracles are being used for credentials and for, you know, bringing the web 2.5 certifications on chain. Like that, like that, like all this stuff is being done digitally anyway, in most parts of the world, but now it’s on chain. So you can, you can do all these extra things with it. So.

31:18
It’s quite incredible when you think about the solution as a whole, as opposed to just trying to tackle a very narrow thing, you lose track of how it all connects together. But it does connect together. There’s a full use around all of these things together. So that’s how the that’s how blockchain fits into what we’re doing. It’s the only way we can’t do it without blockchain. OK, thank you for that explanation. It was quite a lot there.

31:48
do a whole episode breaking down how the entire blockchain gets incorporated into your commodity markets and the different aspects that we all take advantage of. And like you said, all the bits of technology that are slowly coming together. I think we could sit here and talk for hours about this and go into the finer details and see what you guys have got essentially planned out to build over the next few years.

32:14
And that kind of leads me on to my next question. What is on the cards for the next month and the next year?

32:23
So, again, a lot. So in two days, and I guess for Sam, it’s less than two days, we are heading back to Sri Lanka. So this is first of all to continue work with producers on the ground and the regulators on the ground, and also to host a workshop with Joyce, our tea specialist.

32:53
And to also continue the work that was part of the minimum viable ecosystem proposal that we submitted for Fund 10. So this is going to be execution of a lot of points that need to be executed upon in that proposal. Yeah we’re also talking about and we’re talking to other commodity producers other than T.

33:24
and we’re going to be bringing on and onboarding other commodities out of Sri Lanka very shortly. So that’s also the point of that trip. And yeah, one more exciting piece of news is that the Palm IDO is going to start pretty soon. I believe the Palm IDO starts and I’m sorry.

33:52
I’m not the ideal, the ISPO, scratch that. The Palm ISPO starts on December 11th. So we’re also really excited about that and looking forward to that. Yeah, and just a lot of things to kind of wrap up before the year is over. And even though we’re getting close to halfway through December, we still got quite a bit ahead of us.

34:22
What did I miss, Sam? Well, I think going into next year, there’s going to be quite a fair bit of consolidation that happens from a product point of view. The core product gets stabilized. We start building a lot of the interesting design and architecture around it, around the trading platform, the embedded financing platform. There’s been a fair bit of thinking around that already. But we get to have our fun next year.

34:49
designing these things in more detail. So that’s what’s happening. There’s going to be consolidation as well on which geographies we focus on. So there’ll be announcements that come out around MOUs. We’ve already heard about Turkey. There’s a few other regions as well. Where, you know, we’re just going to dig deep into this. These are big primary producer markets and there’s a lot of business activity there and businesses that we can onboard onto Cardano. So

35:16
That’s a real big focus for us. And then also as a company, you know, we’re a growing company, we’ll be hiring a lot of new faces and new staff, new specialists. Yeah, I’m excited to see the team grow basically as well. And we should see a lot more developments of exponentially being, you know, being released as well. So those are some of the big things I’m excited about. There’s a lot of travel as well in the midst of all of that. So Dan, you know,

35:46
Dan’s already got a few big trips planned out, going back to Turkey, Sri Lanka. I’ve got some big events in the US as well. I myself, I’m going back to Australia three times next year. I’ve got some contacts at the Department of Agriculture. I’ll be meeting early next year. I’ve got a conference in Perth I’m presenting at in the ag technology space. And then I’ll be back again in October as well. So it’s just so much.

36:14
business to be done, there’s so many people to speak to and we’re truly excited and very excited to see how the team grows and the project grows and the community grows as well. And it’s going to be a big year. So lots to do in December, but even bigger year next year for us. Definitely sounds like a big year for you guys. And then you also mentioned the ISPO and I had no idea that there was an ISPO happening.

36:41
Are there any details around that? I’m assuming there would be considering it’s six days from this recording. Of course, of course. For details about the Palm ISPO, you can go to the Palm Token account on Twitter. They have pretty much all the information, everything that’s happening, all the news, the roadmap and everything like that, that has to do with the Palm Token.

37:10
The ISPO starts on the 11th of December. There are going to be two pools that are going to be running the ISPO. There’s going to be a 99% pool and a 50% pool, which is 50-50. Both of those are going to be… You can’t see them right now, as I understand. You can’t see them in the…

37:39
Explorer just yet. They will be available and they will show up during the epoch that starts on the 11th of September. Oh, December, I’m sorry. Yeah, all the dates are just screwed up in my head now. You got to stop trying. Yeah, yeah, that’s very exciting and yeah, definitely watch out for that. Go to the Palm Token account to get all the latest information.

38:09
and follow that account. And there’s quite a, you know, pretty constant updates going on on there. Yeah, so it’s really exciting. Really, we’re really stoked to see this happening. I’ll put links to it in the show notes down below so people can find out a little bit more about it. And I think I’ll do some digging myself because this is the first I’ve heard of it too. So I’ll dig into it and find out exactly what the details are, how much the…

38:37
delegation is and what you can get out of it for delegating. So super interesting guys. Looking forward to it. Now, is there anything else that you guys need to let me know about, let the community know about that you guys are up to?

38:52
Um, you know, I just, I, I, I kind of, uh, like to reiterate this, um, every time we speak to somebody, because this has been, this has been, um, you know, there’s been a bit of drama going around the community about, you know, who’s with us, who’s not with us, uh, you know, tribalism versus, versus constructive criticism, um,

39:22
the real peeps versus the fakers and all this. And all I can say about that is ZenGate, myself, Sam, and everybody on our team are here because of the community. That’s why we’re here. We’re here because of this community. We love the Cardano community. We love the Ergo community. And this is what…

39:48
is really kind of, this is what inspires us to keep building here more than anything else. Yes, we love the tech. Yes, we do. Yes, we’re Cardano people. Yes, we’re Ergo people tech-wise, but it’s really, we always come back to the fact that this community is like no other. And this is why we’re here and we will stay here. We’re not going anywhere. We’re going to keep building here and we are

40:17
proud to say that. I can’t wait to be drinking some tea, I think by the time this episode gets uploaded and I’ll be taking lots of photos for everyone. One of the things I really love about what I get to work on is I get to learn about so many new things every single day. You know, I used to think that, you know, one of the career, you know, where I wouldn’t get bored of my job and it’s.

40:43
truly the case. And I just I love being able to share this stuff with the community and give a glimpse of the you know, the awesome work that some of these producers are doing, you know, day to day, you know, so I’ll be taking lots of photos for everyone. Yeah, and just sharing some of the craft and the so the artisanal products and, you know, the hard work that these people put into the to their lives. So yeah, forever grateful of the community and the support that we get. So

41:13
I’m very excited about what’s in common, what I can share with everyone as well. All right. I’ll be watching from afar and being very jealous of your trips and journey through Sri Lanka. But guys, thank you so much for joining me on the podcast and giving me an update of Palmyra and everything that you guys have been up to. Thanks for having us. Yeah, thanks a lot.

41:34
Yeah, gotta do it like that. You’ve been listening to the Learn Cardano podcast. Gotta get it hype. Crypto is what we like. But this is not investment or financial advice. Gotta do your research, cause it’s risky. We know it is. This show is educational and it’s informative. Crypto’s the future, really. It ain’t no debate.

 

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