Gossip about Gossip: Leemon Baird on Decentralized Recovery and Custody - The Key to Mass Adoption

Gossip about Gossip, Season 3 Episode 21
Decentralized Recovery (DeRec) is essential to the mainstream adoption of DLT - today, there are no decentralized mechanisms or safety nets for lost or stolen assets, resulting in an environment that is still, for many, too risky to interact with. Leemon Baird joins the season finale of the 'Gossip about Gossip' podcast to discuss the important work being done at Swirlds Labs on DeRec to drive #Web3 adoption.
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#Hedera #Hashgraph​ #HBAR

[@tonybits369]

Dr.Leemon For POTUS !!!! TY Doc for changing the world 4 da better....❤💫🙏💪🤍🤍🤍

[@richardroy1163]

High quality thinking from Dr Leemon Baird as usual....

[@manonmars82]

DeRec is exactly what i need!! Awesome 👌

[@Mzlecy]

Lemmon is always so far ahead of the curve ❤️ So proud to be an early investor in Hedera 😊 Hello Future!!!

[@ridgeza]

The Man, The Myth, The Legend.. Leemon Baird

[@miniarcadesystems7975]

At the start I was thinking it’s to much for one person todo but by the end I definitely can see this working with all the other elements, thanks Lemmon! absolutely love the genius of Leemon and his passion to make the world a better place. It’s great to watch his legacy evolve. Looking forward for the next few years with Hedera.

[@rkosaraju1]

OMG.. you guys are solving a real problem. This will help all crypto, not just Hedera. Thank you thank you

[@colourpurple5978]

Absolutely amazing! Always love hearing from Leemon! He is such a good human being! 😀🌟🧡 and can’t wait for DeRec!

[@Supremax67]

Don't get wrecked, get DeRec! Someone needs to make that T-shirt

[@tonybits369]

amazon

[@jarednaidoo2829]

Only available on hashgraph!

[@PeterAcrat]

👍Thank you Leemon✨

[@ali013579]

Thank you dr Leemon!

[@hoosierfarmer]

Leemon, this is great. Definitely a needed improvement to the decentralized world. I do have some questions. How do you know you can trust the app/software that is chatting with your helpers? How would you login to the app that manages your helpers and keys? What if you lose the password to that software/app? Is it possible that someone could steal your phone, guess your phone password and have access to all of your keys through the installed app?

[@FalloutConspiracy]

That's why he addressed allowing users to self select who some of their helpers are and have it so that some trusted helpers (i.e., attorneys, banks, businesses, organizations) would require you to authenticate your identity in-person before divulging the fraction of your private key that they are in custody of. So, in the hypothetical scenario in which a nefarious actor steals/clones your phone, they would still need to physically present themselves in the real world in order to perpetrate their fraud against you. That, in and of itself, could be enough of a deterrent to dissuade a would be attacker.

[@VenturiLife]

This is going to be huge. DeRec expected in Q3 2023 or so.

[@DonPernia]

This is incredible!🤩

[@johnfonbacardi]

So why can’t you make it exactly like your gossip protocol where other random users of Hedera say 6 each have a piece your encrypted password …but you only need 3 so if you lose one it sends that key to another random user to keep a piece …everyone is holding everyone’s keys…

[@Matto2k]

Here in the uk there’s already biometric passports the nhs app has something similar

[@ashthegreat1]

Leemon is literally a Davos man.

[@jp34604]

The most critical piece of information that we have learned from this is that Lehman is a member of a bridge club

[@Supremax67]

Ouch. If that was the most important thing you learned from this, education must have been rough.

[@ZelenoJabko]

Is some other recovery scheme, such as 6 out of 9 possible?

[@markdaley3691]

How easy/convenient is it to port (move) software from Eth to Hbar? If not yet, when?

[@Jackripster69]

Very easy, see hashport

[@markdaley3691]

@@Jackripster69thanks bro

[@bigange1888]

Superb, in addition to splitting up your phrase, you could jumble up the seed phrase creating an index map (and encrypt it) and then split it up

[@bigange1888]

With 2 and 3FA encrypted on your buddies phone that verifies when you request a recovery, could store some biometric info that gets checked. Plus your friends knowing that you lost you phone/ wallet hardware (again 😂)

[@JuanPerez-rj7on]

Great idea!

[@JuanPerez-rj7on]

What would be the index for?

[@Jason-qu5dg]

Thats Great!

[@darrenburke699]

If you don't think Hedera is going to be number 1 you need to do some more research!

[@always-deep]

Maybe there shoyld be an incentive to be a helper. So some sort of reward. Also, the problem can be that no-one wants to be a helper.

[@kickzmadeofficial6012]

love leemon

[@solidsn8k3]

Idk maybe I'm not understanding entirely but are Helpers known people of the user or random people on the network?

[@Jackripster69]

I believe its known for now, but wouldnt be hard to set up something to match random people together.

[@solidsn8k3]

@@Jackripster69 also say you lost your phone. What let's the Helper know you are who you say you are?

[@ivaniuk123]

Because they already know you and you already know them. They could be a friend or family member that you trust.

[@solidsn8k3]

@@ivaniuk123 I mean you could already do this with current state. Give people a few of your seed words. I still wouldnr trust my friends or family to be my backup. The solution seems like it's more convoluted than just storing your keys in a lockbox or some equivalent

[@ivaniuk123]

@@solidsn8k3 well they can't do anything with that information anyway vs them having part of your seed phrase. Also it's anonymous... so they can't get attacked like storing part of your key (according to the video).

[@ivaniuk123]

Hmmmn I wonder if there's some other way then setting up "trusted persons" 🤔🤔🤔 though that's a good idea. I wonder if biometrics could also work????? Like your finger prints are your secrets 🤔🤔🤔🤔🤔🤔 if you think about it your fingerprint is unique and is a recovery phrase in itself 🤔🤔🤔🤔

[@colourpurple5978]

What if someone has copy of your finger print? App app u trusted getting a clone of it?

[@Supremax67]

What happens to your fingerprint if they bury you 6 feet under?

[@ivaniuk123]

@@Supremax67 they'll still be attached to you for a period of time.

[@Dr.AayushJha]

Check out Radix DLT and their RadFi 2022 presentation.

[@Therionx]

Could this hit $2.00 dollars someday

[@visq]

🔥🔥🔥🔥🔥🔥🐛✨

[@ryanwdavies1]

❤❤

[@tacticalwarrior5178]

And just like that crypto just became centralized lol. People really thinks this revolution is not control by the “power that be” is asinine.

[@revanth87]

Please elaborate how is this centralized?

[@M-zg2sg]

What does this have to do with centralization? Would you rather not recover your keys if they're missing?

[@stephendk905]

And just like that you don your tin foil hat

[@bcfclarence]

Leemon Baird is a scammer

[@MDBsmash]

Why?

[@A4f1n1ty]

Too bad there is no DeRekt. So we can get unrekt.

[@istengrz3045]

🤣🤣🤣