Uneasy Money: Illia Polosukhin on Why Onchain Commerce Needs Confidentiality

Illia Polosukhin, founder of NEAR and co-author of 'Attention Is All You Need,' on why confidentiality will let crypto become daily commerce — plus, some Near lore.

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Before co-founding NEAR Protocol, Illia Polosukhin was on the eight-person Google Brain team that wrote the transformer paper — the architecture behind every large language model running today.

He never mentioned it. When Kain Warwick found out two weeks ago, via a crypto AI chatbot, his reaction was: you have to be kidding me.

That backstory sets the tone for a conversation that moves from how transformers actually came together, to why confidentiality is what unlocks on-chain commerce for real businesses, and what NEAR is doing to keep criminals off its network without becoming a surveillance layer.

The hosts also get into the Ethereum Foundation's identity crisis, why Illia thinks decentralization is a tool and not a goal, and what the economy looks like when AI handles execution and blockchain handles coordination.

Host:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Founder of Infinex and Synthetix

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Security Expert

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Luca Netz⁠⁠⁠⁠⁠⁠⁠, CEO of Pudgy Penguins

Guest:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Illia Polosukhin — Co-Founder, NEAR Protocol - https://x.com/ilblackdragon

Timestamps

🧠 00:52 The transformer paper: how Illia ended up on 'Attention Is All You Need'

🔗 05:57 Confidential Intents: how NEAR brings privacy to assets across every chain

💵 15:05 Why private stablecoins are the missing piece in on-chain commerce

🛡️ 24:58 Shield: NEAR's AI system scanning chains in real time to block illicit funds

🔓 25:46 The Litecoin MimbleWimble hack and what went wrong with the disclosure timeline

⛓️ 40:03 Multichain Advisors: [ad copy TBD — placeholder] at multichainadv.com

🎯 40:39 Coinbase One: boost newly staked assets 40% through May 31 at https://coinbase.com/unchained

🏛️ 42:24 What Vitalik's “smaller ship” post reveals about the Ethereum Foundation

🤝 48:33 How NEAR pitched its sharding work to the EF twice and got turned away