Unchained
Unchained
Laura Shin
Uneasy Money: Illia Polosukhin on Why Onchain Commerce Needs Confidentiality
1 hour 22 minutes Posted May 27, 2026 at 6:28 pm.
The transformer paper: how Illia ended up on 'Attention Is All You Need'
Confidential Intents: how NEAR brings privacy to assets across every chain
Why private stablecoins are the missing piece in on-chain commerce
Shield: NEAR's AI system scanning chains in real time to block illicit funds
The Litecoin MimbleWimble hack and what went wrong with the disclosure timeline
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What Vitalik's “smaller ship” post reveals about the Ethereum Foundation
How NEAR pitched its sharding work to the EF twice and got turned away
Tay compares the EF to Google and says "don't be evil" is a non-goal
Why Illia thinks decentralization is a tool, not a goal
How organizations change when AI agents can do the work
Illia thinks DAOs “never worked” because of the credit assignment problem
Illia's close: Markets solve what organizations can't
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Show notes
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
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