[
  {
    "startMs": 1309,
    "text": "[music]"
  },
  {
    "startMs": 12640,
    "text": ">> Hello everybody. How are you doing?"
  },
  {
    "startMs": 15200,
    "text": "Um"
  },
  {
    "startMs": 16840,
    "text": "Does anybody remember the movie"
  },
  {
    "startMs": 18560,
    "text": "Terminator?"
  },
  {
    "startMs": 20000,
    "text": "Uh anyways, it's one of my favorite uh"
  },
  {
    "startMs": 22160,
    "text": "movies when I was growing up as a kid."
  },
  {
    "startMs": 24440,
    "text": "And it imagines a world where the"
  },
  {
    "startMs": 26320,
    "text": "machines have taken over, right? And uh"
  },
  {
    "startMs": 30680,
    "text": "uh the nightmare scenario here though in"
  },
  {
    "startMs": 33800,
    "text": "in 2026 is not that the machines are or"
  },
  {
    "startMs": 37240,
    "text": "the agents are launching nukes, but"
  },
  {
    "startMs": 38720,
    "text": "rather"
  },
  {
    "startMs": 39840,
    "text": "uh they've uh taken your wallet and"
  },
  {
    "startMs": 42520,
    "text": "they've gone on a shopping spree."
  },
  {
    "startMs": 44600,
    "text": "And they buy like a bunch of crypto and"
  },
  {
    "startMs": 47400,
    "text": "new bunch of bunch of spanks for you."
  },
  {
    "startMs": 50120,
    "text": "Um"
  },
  {
    "startMs": 51200,
    "text": "but the basically today we're talking"
  },
  {
    "startMs": 53080,
    "text": "about how we safeguard against that and"
  },
  {
    "startMs": 55760,
    "text": "uh and uh hopefully we can kind of share"
  },
  {
    "startMs": 58160,
    "text": "a a mental model that you can use when"
  },
  {
    "startMs": 60680,
    "text": "you're thinking about agent"
  },
  {
    "startMs": 62160,
    "text": "authorization."
  },
  {
    "startMs": 64080,
    "text": "Uh my name is uh Jay Mock. I'm a product"
  },
  {
    "startMs": 66560,
    "text": "manager over at PayPal in agentic"
  },
  {
    "startMs": 69720,
    "text": "payments. And"
  },
  {
    "startMs": 71520,
    "text": ">> Hi everyone. I'm Ben Cooms. I am a staff"
  },
  {
    "startMs": 73440,
    "text": "software engineer on the"
  },
  {
    "startMs": 75600,
    "text": "payment PayPal enterprise payments team."
  },
  {
    "startMs": 78800,
    "text": ">> And together we're going to share kind"
  },
  {
    "startMs": 80440,
    "text": "of like some knowledge with you. Um so"
  },
  {
    "startMs": 82360,
    "text": "hopefully"
  },
  {
    "startMs": 83440,
    "text": "uh you find it helpful. Okay."
  },
  {
    "startMs": 86680,
    "text": "So uh the the key questions that we kind"
  },
  {
    "startMs": 89640,
    "text": "of like uh start off with is uh in terms"
  },
  {
    "startMs": 92240,
    "text": "of like agent authorization is uh did"
  },
  {
    "startMs": 94720,
    "text": "the human authorize this?"
  },
  {
    "startMs": 96760,
    "text": "Um is this allowed right now in this"
  },
  {
    "startMs": 99240,
    "text": "scope and can we prove it later, right?"
  },
  {
    "startMs": 102160,
    "text": "And we we kind of like try to make it"
  },
  {
    "startMs": 104000,
    "text": "general, but in our world of payments,"
  },
  {
    "startMs": 106640,
    "text": "yeah, did the human authorize this? Uh"
  },
  {
    "startMs": 108840,
    "text": "that could be like a passkey or of of"
  },
  {
    "startMs": 111000,
    "text": "that nature. Uh is this allowed right"
  },
  {
    "startMs": 113240,
    "text": "now in this scope? It's generally going"
  },
  {
    "startMs": 115240,
    "text": "to be a time bound um"
  },
  {
    "startMs": 117440,
    "text": "you know you know token."
  },
  {
    "startMs": 119080,
    "text": "Um and an amount and possibly could be"
  },
  {
    "startMs": 122680,
    "text": "identified like a merchant or a"
  },
  {
    "startMs": 126600,
    "text": "the actual product intent. Lastly, can"
  },
  {
    "startMs": 130240,
    "text": "we prove it later? This is like if"
  },
  {
    "startMs": 132080,
    "text": "something goes wrong, right? And in our"
  },
  {
    "startMs": 134480,
    "text": "world of payments it's generally has to"
  },
  {
    "startMs": 135959,
    "text": "do with like the disputes and"
  },
  {
    "startMs": 138320,
    "text": "in that case and how do you can you"
  },
  {
    "startMs": 139760,
    "text": "prove that"
  },
  {
    "startMs": 141840,
    "text": "you know the the human generally"
  },
  {
    "startMs": 143480,
    "text": "authorized that transaction. Right? Um"
  },
  {
    "startMs": 147400,
    "text": "But we think the way that you actually"
  },
  {
    "startMs": 149720,
    "text": "answer these three questions is really"
  },
  {
    "startMs": 152120,
    "text": "dependent on the context. You know,"
  },
  {
    "startMs": 154880,
    "text": "context is a overused term, but in this"
  },
  {
    "startMs": 158040,
    "text": "case what we what we mean is"
  },
  {
    "startMs": 161240,
    "text": "um"
  },
  {
    "startMs": 161880,
    "text": "you know, is it a low stakes or high"
  },
  {
    "startMs": 163600,
    "text": "stakes kind of"
  },
  {
    "startMs": 165840,
    "text": "scenario?"
  },
  {
    "startMs": 167040,
    "text": "Um and"
  },
  {
    "startMs": 169200,
    "text": "is this a kind of like open ecosystem or"
  },
  {
    "startMs": 173200,
    "text": "closed ecosystem? Do the parties like"
  },
  {
    "startMs": 175120,
    "text": "know each other? You know, people use"
  },
  {
    "startMs": 176840,
    "text": "the term KYA a lot. Know your agent, but"
  },
  {
    "startMs": 180160,
    "text": "you know, what we think about in this"
  },
  {
    "startMs": 182200,
    "text": "scenario is is is really about is it"
  },
  {
    "startMs": 184160,
    "text": "like an open or closed ecosystem, right?"
  },
  {
    "startMs": 186800,
    "text": "And in a payments context it could be"
  },
  {
    "startMs": 188760,
    "text": "like, \"Hey, you know, ChatGPT or Gemini,"
  },
  {
    "startMs": 191080,
    "text": "right?\" That's like kind of like a more"
  },
  {
    "startMs": 192640,
    "text": "of like a closed ecosystem because you"
  },
  {
    "startMs": 194840,
    "text": "know, the those agents know the merchant"
  },
  {
    "startMs": 197720,
    "text": "generally. Um"
  },
  {
    "startMs": 199640,
    "text": "I like to use a an analogy."
  },
  {
    "startMs": 203519,
    "text": "I like analogies. And the analogy I I"
  },
  {
    "startMs": 206080,
    "text": "like to use is kind of like the you"
  },
  {
    "startMs": 207880,
    "text": "know, badging into work. You badge into"
  },
  {
    "startMs": 209920,
    "text": "work in the front desk. You basically"
  },
  {
    "startMs": 213080,
    "text": "are are then led into the building or"
  },
  {
    "startMs": 215800,
    "text": "you know, let's say it's a set of"
  },
  {
    "startMs": 216760,
    "text": "buildings. You don't need to like badge"
  },
  {
    "startMs": 218560,
    "text": "in every single time to every other or"
  },
  {
    "startMs": 220840,
    "text": "for every single room because you're"
  },
  {
    "startMs": 222400,
    "text": "already within that trusted boundary,"
  },
  {
    "startMs": 224519,
    "text": "right? So then when you meet someone in"
  },
  {
    "startMs": 227000,
    "text": "within that within your your office"
  },
  {
    "startMs": 229040,
    "text": "building, uh, you kind of have some"
  },
  {
    "startMs": 231640,
    "text": "element of trust, or hopefully you have"
  },
  {
    "startMs": 233160,
    "text": "some element of trust, uh, because"
  },
  {
    "startMs": 235160,
    "text": "you're both, uh, employees at the same"
  },
  {
    "startMs": 236680,
    "text": "company that badged in, right? So, um,"
  },
  {
    "startMs": 240360,
    "text": "that's kind of like the analogy I may I"
  },
  {
    "startMs": 242240,
    "text": "may use later in the presentation."
  },
  {
    "startMs": 245520,
    "text": "Okay, so based on those key questions,"
  },
  {
    "startMs": 247080,
    "text": "we kind of think about like, \"Hey,"
  },
  {
    "startMs": 248240,
    "text": "what's the mental model that we can"
  },
  {
    "startMs": 249680,
    "text": "build off of this, right?\" And we have"
  },
  {
    "startMs": 251800,
    "text": "this like stakes and evidence matrix,"
  },
  {
    "startMs": 253720,
    "text": "and we're going to talk about, uh, these"
  },
  {
    "startMs": 255240,
    "text": "three different scenarios."
  },
  {
    "startMs": 257040,
    "text": "Um, and so, uh, we're going to first uh,"
  },
  {
    "startMs": 260640,
    "text": "and you'll see at the top it's kind of"
  },
  {
    "startMs": 261920,
    "text": "like the stakes and counterparty part"
  },
  {
    "startMs": 263440,
    "text": "that I was just talking about the"
  },
  {
    "startMs": 264520,
    "text": "context, right? Counterparty is like the"
  },
  {
    "startMs": 266600,
    "text": "open or closed ecosystem. And then"
  },
  {
    "startMs": 269080,
    "text": "authority and like evidence is really"
  },
  {
    "startMs": 270880,
    "text": "about how you answer those those those"
  },
  {
    "startMs": 272960,
    "text": "three questions I had shared in in the"
  },
  {
    "startMs": 274840,
    "text": "prior slide, right? Um, so we'll talk a"
  },
  {
    "startMs": 277480,
    "text": "little bit first about like cloud code"
  },
  {
    "startMs": 278960,
    "text": "since that's what most people are very"
  },
  {
    "startMs": 280840,
    "text": "familiar with, and, uh, basically, you"
  },
  {
    "startMs": 283760,
    "text": "know, when you as a human you're going,"
  },
  {
    "startMs": 285240,
    "text": "you know, using your cloud code, uh, you"
  },
  {
    "startMs": 287400,
    "text": "know, you might be, uh, then setting up,"
  },
  {
    "startMs": 289480,
    "text": "uh, your your connectors with your"
  },
  {
    "startMs": 290960,
    "text": "GitHub or or, um, you know, Jira or"
  },
  {
    "startMs": 293600,
    "text": "whatever, uh, linear or whatever uh,"
  },
  {
    "startMs": 295760,
    "text": "tool you're using. And, um, you know,"
  },
  {
    "startMs": 298160,
    "text": "you're as part of that process you're"
  },
  {
    "startMs": 299560,
    "text": "kind of like authenticating, so that's"
  },
  {
    "startMs": 300760,
    "text": "how you kind of like get that that human"
  },
  {
    "startMs": 302480,
    "text": "authorization and consent um, with those"
  },
  {
    "startMs": 305480,
    "text": "those applications and to for the for"
  },
  {
    "startMs": 307960,
    "text": "cloud container act with them."
  },
  {
    "startMs": 309680,
    "text": "Um, in terms of the, uh,"
  },
  {
    "startMs": 311720,
    "text": "actual like, uh, scopes, right? The the"
  },
  {
    "startMs": 315480,
    "text": "example here would be that about, you"
  },
  {
    "startMs": 317160,
    "text": "know, cloud's like, uh, tool"
  },
  {
    "startMs": 318560,
    "text": "permissions. Like people are very"
  },
  {
    "startMs": 320000,
    "text": "familiar probably with, uh, the fact"
  },
  {
    "startMs": 321880,
    "text": "that you can allow cloud cloud to to use"
  },
  {
    "startMs": 324320,
    "text": "certain tools, um, uh, deny or ask cloud"
  },
  {
    "startMs": 327480,
    "text": "to ask you, uh, before for before doing"
  },
  {
    "startMs": 330560,
    "text": "something, right? And then in terms of,"
  },
  {
    "startMs": 333480,
    "text": "uh, the action of like a cloud, uh, we"
  },
  {
    "startMs": 336240,
    "text": "generally think, um, because it's a kind"
  },
  {
    "startMs": 338120,
    "text": "of closed ecosystem and it's like you're"
  },
  {
    "startMs": 339960,
    "text": "coding, uh, the stakes are relatively"
  },
  {
    "startMs": 342240,
    "text": "low here. And so in terms of the"
  },
  {
    "startMs": 344160,
    "text": "evidence or proof, you don't really need"
  },
  {
    "startMs": 346320,
    "text": "to have like that cryptographic proof"
  },
  {
    "startMs": 348400,
    "text": "um, at that point in time. You can kind"
  },
  {
    "startMs": 350000,
    "text": "of just look at like system logs in"
  },
  {
    "startMs": 351400,
    "text": "order to to or you have the ability to"
  },
  {
    "startMs": 353360,
    "text": "just revert revert your changes, right?"
  },
  {
    "startMs": 357000,
    "text": "So, that's kind of like an example of"
  },
  {
    "startMs": 360960,
    "text": "applying like this mental model"
  },
  {
    "startMs": 363480,
    "text": "and using cloud code in terms of that"
  },
  {
    "startMs": 365560,
    "text": "scenario."
  },
  {
    "startMs": 367240,
    "text": "Okay, so the next"
  },
  {
    "startMs": 368720,
    "text": "example we're going to talk about is"
  },
  {
    "startMs": 371800,
    "text": "a more medium stakes"
  },
  {
    "startMs": 373720,
    "text": "scenario and why"
  },
  {
    "startMs": 375280,
    "text": "why we're calling this medium stakes"
  },
  {
    "startMs": 376920,
    "text": "even though it's within a known or kind"
  },
  {
    "startMs": 379120,
    "text": "of closed ecosystem is because it has to"
  },
  {
    "startMs": 380640,
    "text": "do with money and and payments. And so"
  },
  {
    "startMs": 384160,
    "text": "that's like the shared vault and OAuth"
  },
  {
    "startMs": 385760,
    "text": "scope example."
  },
  {
    "startMs": 389919,
    "text": "So, in this example where the use case"
  },
  {
    "startMs": 393360,
    "text": "is is like hey you're like a let's say"
  },
  {
    "startMs": 396760,
    "text": "a merchant or Trip Advisor, right? And"
  },
  {
    "startMs": 398760,
    "text": "you have"
  },
  {
    "startMs": 400960,
    "text": "a travel travel company and you have a"
  },
  {
    "startMs": 403080,
    "text": "lot of great content that you want to"
  },
  {
    "startMs": 404600,
    "text": "monetize. It could be occupancy data, it"
  },
  {
    "startMs": 406560,
    "text": "could be like reviews, what have you."
  },
  {
    "startMs": 408680,
    "text": "And you have a new customer now. You"
  },
  {
    "startMs": 410320,
    "text": "have like a trap like travel agents or"
  },
  {
    "startMs": 412320,
    "text": "like you know agents that that are buyer"
  },
  {
    "startMs": 414680,
    "text": "agents that are are coming to you and"
  },
  {
    "startMs": 417440,
    "text": "you want to be able to monetize"
  },
  {
    "startMs": 420480,
    "text": "monetize your data, right? Through"
  },
  {
    "startMs": 422520,
    "text": "machine payments."
  },
  {
    "startMs": 424000,
    "text": "So, we work with a partner and Never"
  },
  {
    "startMs": 426120,
    "text": "mind to be able to enable that that that"
  },
  {
    "startMs": 429080,
    "text": "use case and leveraging our"
  },
  {
    "startMs": 432280,
    "text": "they're leveraging our infrastructure."
  },
  {
    "startMs": 435000,
    "text": "Right? So, there is two pieces of"
  },
  {
    "startMs": 437640,
    "text": "infrastructure that they"
  },
  {
    "startMs": 439480,
    "text": "that I like to kind of to call out or"
  },
  {
    "startMs": 441200,
    "text": "primitives that they use that"
  },
  {
    "startMs": 442880,
    "text": "as part of the Braintree or PayPal"
  },
  {
    "startMs": 444600,
    "text": "enterprise"
  },
  {
    "startMs": 446480,
    "text": "infrastructure. One is like the vault,"
  },
  {
    "startMs": 448200,
    "text": "right? And the vault by itself, which is"
  },
  {
    "startMs": 450880,
    "text": "storing all these like"
  },
  {
    "startMs": 453120,
    "text": "payment credentials on behalf of the"
  },
  {
    "startMs": 455880,
    "text": "on behalf of the buyer agents,"
  },
  {
    "startMs": 458400,
    "text": "on itself doesn't really do much, but in"
  },
  {
    "startMs": 460680,
    "text": "order to create"
  },
  {
    "startMs": 462680,
    "text": "what nevermind creates is a a more"
  },
  {
    "startMs": 467120,
    "text": "eco closed ecosystem, they then off"
  },
  {
    "startMs": 469680,
    "text": "you're able to um"
  },
  {
    "startMs": 472040,
    "text": "offer"
  },
  {
    "startMs": 473280,
    "text": "uh or offer access to those payment"
  },
  {
    "startMs": 475720,
    "text": "credentials through"
  },
  {
    "startMs": 477560,
    "text": "OAuth, right? To all those merchants."
  },
  {
    "startMs": 479880,
    "text": "So, in our example before we talked"
  },
  {
    "startMs": 481240,
    "text": "about that that travel travel um travel"
  },
  {
    "startMs": 485000,
    "text": "company, right? So, by doing so, they're"
  },
  {
    "startMs": 487400,
    "text": "able to then create like an ecosystem um"
  },
  {
    "startMs": 490800,
    "text": "of buyer agents and seller agents"
  },
  {
    "startMs": 493800,
    "text": "uh and have a more trusted"
  },
  {
    "startMs": 496200,
    "text": "environment, right? So,"
  },
  {
    "startMs": 499000,
    "text": "um"
  },
  {
    "startMs": 499840,
    "text": "in the in the just kind of talking more"
  },
  {
    "startMs": 501520,
    "text": "about the use case, like the human then"
  },
  {
    "startMs": 504280,
    "text": "is then going to be authorizing"
  },
  {
    "startMs": 506840,
    "text": "authorizing their their payment."
  },
  {
    "startMs": 508600,
    "text": "Usually, this is a commercial card"
  },
  {
    "startMs": 510360,
    "text": "commercial use case. So, you're using"
  },
  {
    "startMs": 512280,
    "text": "like a commercial card, they share it"
  },
  {
    "startMs": 513680,
    "text": "with the buyer agent, travel agent. Um"
  },
  {
    "startMs": 517560,
    "text": "then that uh it it also has"
  },
  {
    "startMs": 521400,
    "text": "scopes associated with that mandate. So,"
  },
  {
    "startMs": 523960,
    "text": "that's how you're able to do controlled"
  },
  {
    "startMs": 525960,
    "text": "authority, but in terms of like the"
  },
  {
    "startMs": 527560,
    "text": "actual like dispute handling, we really"
  },
  {
    "startMs": 530560,
    "text": "uh don't have like a we're not using"
  },
  {
    "startMs": 532920,
    "text": "like"
  },
  {
    "startMs": 534360,
    "text": "cryptographic proof that's being sent as"
  },
  {
    "startMs": 535960,
    "text": "part of that that request, right? At the"
  },
  {
    "startMs": 538800,
    "text": "end of the day, they can since it's more"
  },
  {
    "startMs": 540760,
    "text": "of a"
  },
  {
    "startMs": 542080,
    "text": "closed ecosystem,"
  },
  {
    "startMs": 543760,
    "text": "they're able to leverage like the just"
  },
  {
    "startMs": 545360,
    "text": "the existing"
  },
  {
    "startMs": 547440,
    "text": "transaction logs."
  },
  {
    "startMs": 549000,
    "text": "Right? So, that's kind of an example of"
  },
  {
    "startMs": 551800,
    "text": "like a medium stakes and"
  },
  {
    "startMs": 554040,
    "text": "use case or scenario, and"
  },
  {
    "startMs": 557400,
    "text": "we we believe it's medium stakes because"
  },
  {
    "startMs": 559839,
    "text": "of the fact that it is a more closed"
  },
  {
    "startMs": 562360,
    "text": "ecosystem and doesn't require all like"
  },
  {
    "startMs": 565000,
    "text": "the"
  },
  {
    "startMs": 567640,
    "text": "you know, evidence in terms of"
  },
  {
    "startMs": 571200,
    "text": "or proof, right? So,"
  },
  {
    "startMs": 574320,
    "text": "that's kind of like my part. I'll going"
  },
  {
    "startMs": 575760,
    "text": "to turn it over now to Ben and uh take"
  },
  {
    "startMs": 578520,
    "text": "it from here."
  },
  {
    "startMs": 580680,
    "text": ">> Uh thanks, Jay."
  },
  {
    "startMs": 583760,
    "text": "Yeah, so the last slide that Jay talked"
  },
  {
    "startMs": 585400,
    "text": "about, um"
  },
  {
    "startMs": 586760,
    "text": "you know, we're kind of going over the"
  },
  {
    "startMs": 588480,
    "text": "medium stakes example."
  },
  {
    "startMs": 590800,
    "text": "Uh um"
  },
  {
    "startMs": 591880,
    "text": "In that scenario, um"
  },
  {
    "startMs": 594240,
    "text": "you know, both parties know each other."
  },
  {
    "startMs": 596480,
    "text": "Uh they're acting within, you know, the"
  },
  {
    "startMs": 598120,
    "text": "same system. They they know"
  },
  {
    "startMs": 601160,
    "text": "you know,"
  },
  {
    "startMs": 602360,
    "text": "they're borrowing trust from, you know,"
  },
  {
    "startMs": 603960,
    "text": "Nevermind to"
  },
  {
    "startMs": 605920,
    "text": "make sure that, you know, the buying"
  },
  {
    "startMs": 607120,
    "text": "agent is falling within, you know, the"
  },
  {
    "startMs": 609360,
    "text": "instructions that a human has given it."
  },
  {
    "startMs": 611240,
    "text": "Um"
  },
  {
    "startMs": 611840,
    "text": "and then the selling agent that's also"
  },
  {
    "startMs": 613760,
    "text": "on Nevermind can feel comfortable taking"
  },
  {
    "startMs": 615520,
    "text": "a payment um"
  },
  {
    "startMs": 617800,
    "text": "from another user of of Nevermind. And"
  },
  {
    "startMs": 619840,
    "text": "And so, what we want to talk about next"
  },
  {
    "startMs": 621360,
    "text": "is what happens when the parties are are"
  },
  {
    "startMs": 623960,
    "text": "not known to each other and they're not"
  },
  {
    "startMs": 625560,
    "text": "vetted. Um"
  },
  {
    "startMs": 627800,
    "text": "And so, like we think, you know, we"
  },
  {
    "startMs": 629400,
    "text": "believe that the best option for that,"
  },
  {
    "startMs": 631640,
    "text": "you know, is actually do these"
  },
  {
    "startMs": 633240,
    "text": "autonomous payments, um"
  },
  {
    "startMs": 636440,
    "text": "where, you know,"
  },
  {
    "startMs": 637800,
    "text": "you know, not everyone's known. Like you"
  },
  {
    "startMs": 639520,
    "text": "know, the stakes are high. You know, we"
  },
  {
    "startMs": 640880,
    "text": "think that the industry should converge"
  },
  {
    "startMs": 642920,
    "text": "on the FIDO verifiable intents and AP2"
  },
  {
    "startMs": 646080,
    "text": "mandate. Um"
  },
  {
    "startMs": 648120,
    "text": "You know, the TLDR of that is, you know,"
  },
  {
    "startMs": 649800,
    "text": "it's a a multi-layered selective"
  },
  {
    "startMs": 652000,
    "text": "disclosure jot. Uh"
  },
  {
    "startMs": 654560,
    "text": "The first layer is, you know, created by"
  },
  {
    "startMs": 656880,
    "text": "a"
  },
  {
    "startMs": 657720,
    "text": "trustworthy credential provider. You"
  },
  {
    "startMs": 659040,
    "text": "know, in this case, hopefully it would"
  },
  {
    "startMs": 660080,
    "text": "be PayPal. Um The second layer, you"
  },
  {
    "startMs": 662800,
    "text": "know, encapsulates the user's"
  },
  {
    "startMs": 664240,
    "text": "instructions to the agent. Um"
  },
  {
    "startMs": 667080,
    "text": "The user signs that with their private"
  },
  {
    "startMs": 668520,
    "text": "key. And then the third layer, if"
  },
  {
    "startMs": 670839,
    "text": "there's going to be a third layer, is"
  },
  {
    "startMs": 672440,
    "text": "when um"
  },
  {
    "startMs": 674160,
    "text": "we're doing autonomous payments. So,"
  },
  {
    "startMs": 675839,
    "text": "that case, the agent would, you know,"
  },
  {
    "startMs": 677839,
    "text": "sign that third layer. And And so, the"
  },
  {
    "startMs": 681600,
    "text": "where that's powerful is that, you know,"
  },
  {
    "startMs": 685320,
    "text": "party involved in a transaction can can"
  },
  {
    "startMs": 687440,
    "text": "verify the part that's, you know,"
  },
  {
    "startMs": 689440,
    "text": "important to them. So, merchants can"
  },
  {
    "startMs": 692200,
    "text": "verify that the checkout is correct. Um"
  },
  {
    "startMs": 694400,
    "text": "Um payment processors can verify that"
  },
  {
    "startMs": 696160,
    "text": "the payment mandate is correct. Um"
  },
  {
    "startMs": 699000,
    "text": "And no one has to have any relationship"
  },
  {
    "startMs": 700920,
    "text": "to each other."
  },
  {
    "startMs": 702080,
    "text": "Um"
  },
  {
    "startMs": 703880,
    "text": "And so, like I think, you know, if"
  },
  {
    "startMs": 705200,
    "text": "there's going to be a ton of payments,"
  },
  {
    "startMs": 707120,
    "text": "you know, at scale, we think that that's"
  },
  {
    "startMs": 709160,
    "text": "going to be the best um way to"
  },
  {
    "startMs": 710960,
    "text": "accomplish it."
  },
  {
    "startMs": 712960,
    "text": "Uh"
  },
  {
    "startMs": 713880,
    "text": "pictures on the screen are depicting our"
  },
  {
    "startMs": 716160,
    "text": "PayPal approval token."
  },
  {
    "startMs": 717920,
    "text": "Um"
  },
  {
    "startMs": 718640,
    "text": "This is a new primitive that allows"
  },
  {
    "startMs": 721000,
    "text": "users of PayPal to"
  },
  {
    "startMs": 723160,
    "text": "basically start the order process with"
  },
  {
    "startMs": 725680,
    "text": "an agent um for that agent has actually"
  },
  {
    "startMs": 727760,
    "text": "found an item at a merchant to transact"
  },
  {
    "startMs": 729800,
    "text": "with. Uh historically, PayPal orders"
  },
  {
    "startMs": 732280,
    "text": "have been synchronous."
  },
  {
    "startMs": 734040,
    "text": "Um"
  },
  {
    "startMs": 735000,
    "text": "You know, users on"
  },
  {
    "startMs": 736960,
    "text": "checkout, they find their item, they go"
  },
  {
    "startMs": 739200,
    "text": "to their PayPal app, they approve it, um"
  },
  {
    "startMs": 741440,
    "text": "and it's done. Uh here, it's a little"
  },
  {
    "startMs": 743280,
    "text": "bit different, you know."
  },
  {
    "startMs": 744960,
    "text": "Users on their agent,"
  },
  {
    "startMs": 746760,
    "text": "um"
  },
  {
    "startMs": 747440,
    "text": "they get redirected to PayPal to confirm"
  },
  {
    "startMs": 749440,
    "text": "the instructions that are given to the"
  },
  {
    "startMs": 750520,
    "text": "agent, and then"
  },
  {
    "startMs": 752400,
    "text": "uh PayPal hands back this JSON payload."
  },
  {
    "startMs": 755240,
    "text": "Um you know, similar to the verifiable"
  },
  {
    "startMs": 756480,
    "text": "intent, uh includes the"
  },
  {
    "startMs": 759120,
    "text": "amount, the expiry, uh the merchant that"
  },
  {
    "startMs": 762200,
    "text": "is supposed to be transacted with. Um"
  },
  {
    "startMs": 765080,
    "text": "Similar concept, but not quite the same."
  },
  {
    "startMs": 767680,
    "text": "Um"
  },
  {
    "startMs": 768560,
    "text": "it's an opaque string that only PayPal"
  },
  {
    "startMs": 770360,
    "text": "can approve right now."
  },
  {
    "startMs": 771960,
    "text": "Um"
  },
  {
    "startMs": 772839,
    "text": "But we're about to ship this into"
  },
  {
    "startMs": 773760,
    "text": "production, um"
  },
  {
    "startMs": 775360,
    "text": "and users of Jet and I that pick PayPal"
  },
  {
    "startMs": 777680,
    "text": "as a payment method will will use this."
  },
  {
    "startMs": 782000,
    "text": "Um so, going to our last slide, um"
  },
  {
    "startMs": 785440,
    "text": "you know, we showed this slide earlier."
  },
  {
    "startMs": 787080,
    "text": "It we didn't have the two columns filled"
  },
  {
    "startMs": 788560,
    "text": "out on the right-hand side. Um"
  },
  {
    "startMs": 791120,
    "text": "You know, we wanted to reinforce this"
  },
  {
    "startMs": 792360,
    "text": "mental model where,"
  },
  {
    "startMs": 794320,
    "text": "you know, starting at the top, we have,"
  },
  {
    "startMs": 795600,
    "text": "you know, the low-stakes scenario, you"
  },
  {
    "startMs": 797720,
    "text": "know, you're you're using Claude, you've"
  },
  {
    "startMs": 799320,
    "text": "given it access to connectors, you know,"
  },
  {
    "startMs": 801360,
    "text": "granular permissions to do things on"
  },
  {
    "startMs": 802920,
    "text": "your behalf."
  },
  {
    "startMs": 804120,
    "text": "Um you feel comfortable doing that"
  },
  {
    "startMs": 805600,
    "text": "because the stakes are low. You know,"
  },
  {
    "startMs": 807600,
    "text": "you can reverse those actions or redo"
  },
  {
    "startMs": 809240,
    "text": "them. It's not a big deal if Claude"
  },
  {
    "startMs": 810880,
    "text": "produces, you know, the wrong output."
  },
  {
    "startMs": 813600,
    "text": "Uh going down a level, we have the"
  },
  {
    "startMs": 815360,
    "text": "medium stakes scenario. You have"
  },
  {
    "startMs": 817800,
    "text": "two parties that know each other that"
  },
  {
    "startMs": 819400,
    "text": "are acting within the same system's"
  },
  {
    "startMs": 820880,
    "text": "boundary. Um"
  },
  {
    "startMs": 822560,
    "text": "you know, the"
  },
  {
    "startMs": 823360,
    "text": "the actions are a little bit higher"
  },
  {
    "startMs": 824520,
    "text": "stakes. You know, there is money"
  },
  {
    "startMs": 825560,
    "text": "movement here, but both parties can can"
  },
  {
    "startMs": 828280,
    "text": "feel comfortable, you know, transacting"
  },
  {
    "startMs": 829960,
    "text": "with each other because they're relying"
  },
  {
    "startMs": 831480,
    "text": "on this this third party to enforce uh"
  },
  {
    "startMs": 834560,
    "text": "the payment mandate."
  },
  {
    "startMs": 836680,
    "text": "And then the third level, you know, the"
  },
  {
    "startMs": 838160,
    "text": "highest stakes one um that we haven't"
  },
  {
    "startMs": 840320,
    "text": "actually really seen in production yet,"
  },
  {
    "startMs": 841960,
    "text": "it's, you know, the user's giving an"
  },
  {
    "startMs": 843320,
    "text": "agent some"
  },
  {
    "startMs": 845160,
    "text": "instructions to do something on their"
  },
  {
    "startMs": 846360,
    "text": "behalf autonomously, and you don't know"
  },
  {
    "startMs": 848880,
    "text": "who they're going to interact with, who"
  },
  {
    "startMs": 849880,
    "text": "they're going to transact with. Um and"
  },
  {
    "startMs": 851880,
    "text": "those parties need some verifiable proof"
  },
  {
    "startMs": 854880,
    "text": "that the agent has permission to do the"
  },
  {
    "startMs": 856400,
    "text": "transaction. And so, we believe that"
  },
  {
    "startMs": 858240,
    "text": "that will be um"
  },
  {
    "startMs": 860880,
    "text": "either verifiable dents and and AP2"
  },
  {
    "startMs": 863160,
    "text": "mandates."
  },
  {
    "startMs": 864360,
    "text": "Um"
  },
  {
    "startMs": 865560,
    "text": "I think the interesting thing is"
  },
  {
    "startMs": 867520,
    "text": "it's also our belief that, you know,"
  },
  {
    "startMs": 868880,
    "text": "this is a model that can't won't just be"
  },
  {
    "startMs": 871160,
    "text": "used for payments, but we think it could"
  },
  {
    "startMs": 873400,
    "text": "be for any sort of high-stakes action"
  },
  {
    "startMs": 875680,
    "text": "that's hard to reverse. So, medical"
  },
  {
    "startMs": 877120,
    "text": "orders, e-signatures, securities"
  },
  {
    "startMs": 879080,
    "text": "trading, um you know, basically any"
  },
  {
    "startMs": 881720,
    "text": "hard-to-reverse agent action."
  },
  {
    "startMs": 885000,
    "text": "That's all I have."
  },
  {
    "startMs": 886200,
    "text": ">> Yeah, I mean, I think um if we could"
  },
  {
    "startMs": 887880,
    "text": "just go back to analogies, uh"
  },
  {
    "startMs": 890000,
    "text": "you know, like in the low stakes is kind"
  },
  {
    "startMs": 891839,
    "text": "of like, \"Hey, you're within the the"
  },
  {
    "startMs": 893560,
    "text": "building. You've uh put a badge in and"
  },
  {
    "startMs": 895680,
    "text": "you're within the building.\" Whereas in"
  },
  {
    "startMs": 897160,
    "text": "the um high stakes is kind of like, \"You"
  },
  {
    "startMs": 900160,
    "text": "are on the street and you meet"
  },
  {
    "startMs": 901760,
    "text": "somebody.\" And uh you know, you need a"
  },
  {
    "startMs": 904520,
    "text": "way to be able to uh get comfort that"
  },
  {
    "startMs": 907000,
    "text": "that's someone you can trust, right? Um"
  },
  {
    "startMs": 909880,
    "text": "is a badge is them showing you their"
  },
  {
    "startMs": 912120,
    "text": "badge good enough? Uh probably not. You"
  },
  {
    "startMs": 914520,
    "text": "need to have something that's a little"
  },
  {
    "startMs": 915760,
    "text": "bit more um you know, verify verifiable."
  },
  {
    "startMs": 919320,
    "text": "Or I guess at a verifiable standard. So,"
  },
  {
    "startMs": 921960,
    "text": "um you know, just kind of like using"
  },
  {
    "startMs": 923520,
    "text": "that analogy and like how to think about"
  },
  {
    "startMs": 925640,
    "text": "like the you know, what you need to do"
  },
  {
    "startMs": 928000,
    "text": "in order to"
  },
  {
    "startMs": 930840,
    "text": "prove the that the human authorized the"
  },
  {
    "startMs": 933120,
    "text": "agent. Hopefully that that helps and now"
  },
  {
    "startMs": 936840,
    "text": "you have kind of like a tool set to use."
  },
  {
    "startMs": 939640,
    "text": "So you can kind of prevent Skynet from"
  },
  {
    "startMs": 941600,
    "text": "taking over your wallet. So, thank you"
  },
  {
    "startMs": 943680,
    "text": "very much for your for listening. Hope"
  },
  {
    "startMs": 946040,
    "text": "that helps."
  },
  {
    "startMs": 949105,
    "text": ">> [applause]"
  },
  {
    "startMs": 964826,
    "text": "[music]"
  }
]