Leona Hioki - Intmax | Web3Privacy Now - Tokyo Meetup 2025

[Music] I'm Leona from InMax. So basically intmax is a stateless layer of Ethereum meaning that it's like know cash plus plasma and it's really efficient when you send money and also it's everything's private and if you deposit money on money from there you can make everything private as well. So it's kind of not literally tra+ plasma and so I want to talk about yeah I've been talking about this kind of know how intimax works and the what is the know goodness of status layer of uh for many years but you know it's maybe uh know it's been same for many years so I need to change a bit today um I I want to talk about quite new stuff here And so I could not talk about new stuff uh before mainet launch uh when it happened uh in June because know when I talk about know the other stuffs know people asked me when mainet went right so I I could not do anything before the mainet launch but no finally we could reach out their mainet launch last June and yeah it's been a while we are producing a lot of privacy here and okay so today I want to talk about the the payment future. Oops. Oh, it's difficult.

Okay. So, start from the history of the money, right? Uh it started from store and shells like here and it became metals and it became the bank bill and bank notes and actually the invention of bank notes was quite drastic idea. the bank note it happened in uh maybe uh 12th century or something like that and the before that everything was metal and the paper it's just a paper so it's know people thought that it's stupid to make a paper money but actually uh succeeded because it's made by Mongolians and they kill the old fakers all all the fakers and the older you know uh no producing their fake bills So this is the reason why I happened and after that it became the electric record and right now the money is made of cryptography and it's I think it's really amazing that know we can say that money is made of mass and cryptography it sounds mysterious right and I that's this is only the reason why I came here and so the mass and cryptography so It's money sale is made by cryptography means that it should be encrypted in my opinion but actually the today's cryptocurrency is not crypto it's not so encrypted so why don't we encrypt our money on blockchain so it's it's really crypto right so that's the reason why I started this project so why cryptography is needed even in developed countries so In many uh know countries on this earth actually they need crypto because crypto is actually much better money than uh their fiat currency sometimes and I stayed many months in Nigeria uh last year and yeah many presets and some presets are currency are quite like a meme coin in the in winter period is always know doubling down all the time and so yeah one of the no place I stayed in Africa was Nigeria and they know there was like that and so people need crypto there no people get in solar uh on blockchain there because know it it's much better and it's much more convenient and but why do we need that in developed country and so even in developed country we need crypto uh basically this is a reason why uh bank notes can get faked. So we have our no bank note like like this one and I don't like this new version of Japanese yen.

Uh it's obviously quality down and you know last one's much better but you know the new bill is yeah somehow people believe that it's unflakable but is is that true? So okay so is there any scientist here know who can prove that this bill is totally unfable? Anybody actually we are believe in a quite big way right and are you sure that the bank server even central bank server can not get hacked by clock hackers? Is there any opinion about that? So is your money sound?

Is your money actually unfable? This is a quite Oh, do you have any idea?

Yeah, friends of mine went to prison because they had to pay.

Oh, you your friends, fake money.

My father works in the graphics industry. He knows people.

Oh, that's so please introduce introduce me.

Yeah, we can make a news table.

So, and actually they are hacked. So bank servers even central bank server got hacked before actually. So it's not safe.

So crypto is needed actually. And so one is that the biggest one is a Bangladesh central bank and they printed 1 billion and yeah 81 uh million uh no and issued nearly and in South Africa as well and in Moscow bank they issued uh new money uh for hackers and it actually happened a lot. So your money is not unfable. It's totally fakeable and it's in this era of technology the money is in danger that much. So okay so this is why we have our know crypto and we have the crypto payments right and what is the future of the payments of crypto?

So it's already it's been a while it's good know it's secured it's scalable with layer 2 and it's happening in in many countries actually but what is their future of payment so I truly believe that uh their payments will be quite transformed by AI in near future so one of the biggest reason why I can say that is like it's the you know advertisement model will be changed The advertise model here is like no you see the advertisement maybe recommended by AIS right and you pay that right now but in the future people will ask AI agents uh what you want and they will buy that automatically and this is what is kind of quite well discussed in advertisement industry right now so it's affect the payments and the so this is the reason why I presume that uh money spendable from AI agent automatically it's needed. So yeah we can have many opinions about that. Why do we need crypto? So crypto guys always connect everything to to blockchain. So so this is the the last know the new new version of that.

Some people might say that and why do we what's the difference between machine to machine payment the human to human payments for example do we need that and paying this human job yeah might be possible some people say that and yeah we can say that uh we need to answer the question uh like this no why not credit card why crypto right so how many bank accounts do you have

actually I have three. Yeah, you you have four and maybe is there anybody has hundreds? Oh, you have seven. Yeah, it's quite good. No, it's maybe the the Guinness record here.

Maybe not more than 10, right? Maybe it's it's maybe less than 10 always. Do we count accounts as in separate entities in banks or accounts as in holding accounts?

Oh, you can know you can do that double counts. Yes,

I have.

Yeah. Can you make it 100?

No. Yeah, must be. So, and how many devices and AI uh services are you using? Maybe devices, you know, you have many things like this or like this or somewhere. I have maybe more than 10.

uh including Rasberry Pi and something like that

too. Really?

So because you're nomad [Music] see I see. Yeah. But you know you can bring many many Raspberry Pies.

But anyway, so maybe average maybe around 10 uh even if you have a big house and the maybe you have many many threads like know AI threads know in chat GPT or something like that right so they have many tasks. So how many crypto addresses do you have?

Hundreds.

Yeah hundreds. I have over 200s and some my friends is no airrop hunters. He has no professional 10,000 accounts or something like that, right? So it's it's a crypto is you know anonymous number of addresses. Um so why do you have so many addresses actually?

So we want address so for for each purposes right. So in bank system or in credit card system basically one account one cards represent many many many many purposes but actually crypto address no you can know blind that to to limit that to one address right so that even if we have a many many devices many many AIs we don't have to share one key private key and actually credit card idea is a bit crazy right no we have

you We have private key printed here. It's a bit crazy but anyway so so we cannot share so many kind of accounts among many purposes. That's the reason why we need crypto instead of credit card and bank accounts. And if bank accounts, bank entities adapt adjust theelves to this new environment, things will be changed. But at least right now uh no crypto have a significant uh advantage over bank accounts to to make this automatic payments.

we can make a know we can imagine many many new kind of architectures uh to make uh no the the AI agent uh pay for something some purposes and I will skip this a bit. So yeah anyway why do we need M2M payments? See this is there yeah no reason I explained before but yeah why do we need crossborder uh M2M payments uh agent to agent payment or agent to uh co payments the crossborder payment is one of the domain crypto is really really good at actually I have a Nigerian bank account in this uh you know the wallet you You do as well. Yeah.

No, I don't.

Oh, you don't.

Nigerian bank account.

Yeah. Nigerian bank account. How do you make that? Actually, I asked one guy. H it's a services.

There's a service there. It's a instant residency. So, they make a residency and they with my name and make a bank account then erase that as soon as possible. That's the service there. No, I I could use there.

And so I could make a bank account in Nigeria, but there's no method to to send my money to n my Nigerian bank account. I'm a same person, but I cannot send money from my Swiss or Japanese bank account to Nigerian bank accounts. There's almost no way. And at the same time, uh I cannot pay uh anything. I cannot transfer any money to my Nigerian account even if he's in front of me.

But in crypto we can it's it's like for one minutes or 0.5 seconds right so it's quite amazing you can feel that no you are no in the quite no right track no crypto is totally right track there because no it's the most efficient and know convenient obviously but okay anyway uh this kind of crossber payments it's uh you shining use case of crypto. But how why do we need that for even M2M? So imagine that in 1919 uh we have a no no bloom of internet uh when I was three maybe I don't remember that but no there's a blossom of the internet and the people asked the same question why do we need uh global internet instead of separated to to each countries or each uh districts uh you know jurisdiction But you know people of course these are because of opportunity know I can access to any kind of know website like US or in UK or in Sabad or uh many places uh it's provides the opportunity of information to to know something new right this is a reason why the internet is open to to each uh any kind of region and at the same time the payment should be like that and If we have a know AI agent pay for know something based on the demand from the people the they should buy uh anything from any country uh because of this opportunity I believe and okay this is the last part and it's not so uh interesting because it's my project and the yeah we are make a stateless layer too So state what is stateless layer two? So it's just uh simple comparison.

It's a just a simple tradeoff. Stateless layer two and stateful layer two like or layer one like Ethereum abitum most 99.9% of the blockchain or networks they are stateful and the quite limited number of stateless network today inbox is one of that and so we are making Guinness record of the payment it's 0.08 Z eight bytes part transfer and the maybe this is the smallest number I guess on the other same time everything is private so you cannot know anything so this is limited to payments this is a trade-off so we have a very great uh decentralization and the uh the efficiency of payments and also we have a perfect privacy but we don't have functionality this is only the uh no tradeoff we can describe and so yeah this is what we are doing and if I describe intmax there's many ways actually so in the maybe Ethereum uh no uh researcher community maybe I can say that this plasma plus recursive and it doesn't make any sense for kind of non-crypto people it's just like you know nothing for them I guess and in a bitcoiner context it's like algb plus minina plus zol up and in another way may I prefer this one high tps train cache and the fourth one is shield CSV but anyway this high TPS train is in max and we are providing this kind of privacy how is the efficiency so Yeah, everything uh is distributed to the client side. So everything UDXO is representing one micro proof uh given by block producer without fake and this communication is compelled in in ZP circuit.

So it's cannot be faked and all the know the history of the UTX or let's say mark tree is compressed in the recurs of ZKP once you verify the previous recurs of ZKP you can prove the entire history of recurs of ZKP at the same time because no previous one is already proven previous one and it reaches the origin of their chain. So this is how it works. So thanks so much. So we are making a cutting edge payments and even the future and yeah please join our privacy mining as well. Privacy mining is like know deposit Isa together and withdraw Isa together.

That's it. And so welcome to the inmax and the prime mining. [Applause] [Music]