Dean joins us on Base Layer for an in-depth discussion on Agoric and it's not to be missed. Dean designed the negotiation process and contract for the first smart contracting system, AMiX which dates back to the 1980's. As a Principal Architect at Microsoft, he designed the Midori distributed object-capability operating system. While most smart contract platforms currently use an identity-based security architecture where access is granted based on the sender of a transaction, it has been shown that identity-based security architectures have issues. In contrast, Agoric uses an object capacity security architecture, in which access to a programming object itself is the authority to use the object. We discuss all these differences and why companies like Google and Salesforce are currently using these designs as well.