Ripple/XRP-Bank Of America/IBM/CBDCs,XRPHealth,Brad Garlinghouse @ Davos 2023-SEC-Will You Settle?

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Welcome back to the show everybody check Out these headlines Bank of America on CBD seeds and stable coins IBM 2 xrp Healthcare but wait for this Brad Garlinghouse talking at Davos it's not Just tomorrow it's today I got you Something you want to see the state of Crypto and the Ripple case somebody Wrote that beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Can follow us on Tick Tock YouTube and Twitter for exclusive content right now 1 trillion 27 billion market cap for Crypto and we're off by point four Percent good morning Bitcoin right now 21 200 plus ethereum 1500 plus tether Market cap 66.5 billion they say xrp 39 Cents let's get into this ladies and Gentlemen link two is where you can get Incredible products like Ripple poly Sign uphold linked to itself brex is new And Rippling and so many other Incredible products I'll just scroll it For you here but I tell you you can't Mess around because look fully Subscribed Ripple how much longer before They tell us you can't get any more Click the link below if you're Accredited if you're not accredited Click the link find out what you need to Do to get accredited because pre-ipo Opportunities like this will go away

That's the whole point is at some point Point they have a public exit or some Form of an exit and you want to get in Before that happens this is the place to Do it link2.com click that link below Check out my sponsor let's get into this Right now There's extensive precedent for Requiring companies providing critical Infrastructure to get special Insurance Why not require companies to back Themselves with a market-based product Says the founder of evertas a crypto Insurance provider look I've been Calling for this For years I mean whether it's FDIC or whether it's A third party provider like they just Like ever toss described here this is What really can bring an enormous amount Of confidence to the space Is knowing I'm insured and I don't want To be insured by the company itself I Want a third-party company that does it Standalone or FDIC there it is right There and what comes with all of that is Usually regulation so watch out I think This might be a good year to see some Kind of clarity for stablecoin Legislation and I think that could Really bring in the FDIC side and Certainly third-party providers to go With it we'll keep an eye on it Venture Capital firm digital currency

Group this is not good ladies and Gentlemen Has told shareholders it is halting its Quarterly dividend payments until Further notice as it attempts to Preserve liquidity Uh oh SpaghettiOs But then we have this On the other side of the world here nine Billion dollar European bank and 26. We'll launch Bitcoin trading for Millions of company customers according To Reuters You know I happen to believe and I know I've caught a lot of trash for this but You know what I hope anybody holding Bitcoin and from time to time I will Myself But I tell you I feel that Bitcoin is ultimately a Shiny distraction to keep retail Consumers off of gold That's my personal opinion there but We'll see what the long term brings I do See entities like BlackRock and the European Bank mentioned here opening up The doorway for retail customers to Participate in this And I say to myself there's a cynical Side I have that I tap into most of you Probably could tune into that Uh but there's a cynical side of me that Says you know essentially this you know Is Bitcoin that shiny distraction while

The new monetary system is being set up And we're of course watching central Banks buy and hoard gold at alarming Rates it tells me that something's Coming We just don't know exactly what how bad Or when However Bank of America and now IBM Naraja Ron I believe it is said that Cbdc's are the future of money Well this shows huge promise and again This points towards some kind of a Tipping Point for clarity when you hear This kind of language coming from these Kind of places like the Bank of America And IBM right Said the cbdc's are the future but Issuers need to consider hybrid-like Model they are replacing current digital Currency system in any in a way they are Controlled This is an excellent position where Combination of permission and permission Lists is necessary while many cbdc pilot Projects are still in development phases Narazaran said payments will eventually Be made with cbdcs but in the meantime Stable coins which are a form of Cryptocurrency pegged to real world Assets such as gold or the US dollar are Working as stop gaps until cbdcs are Available in the market Rob Massey Global Tax leader blockchain Cryptocurrency at Deloitte one of the

Big four Consulting accounting firms of The world Echoed the comments that were mentioned By Niraj Iran here separate uh segment On first mover he said the ability to Use programmable money with smart Contracts can reduce friction and help Large-scale Enterprises Elevate their Level of transparency and real-time Payment system it's absolutely where We're going said Massey although he Cautioned that not all cbdc stable coins And smart contract Protocols are created Equal I would agree with that no doubt about It And then obviously here Bank of America In the most recent research paper Published Tuesday that CBD season stable Coins are the next logical step in Development of the monetary and monetary Related systems again going back to what I said about Bitcoin for the masses While the world financial system Begins to really reset to a new monetary System which I believe will be a Multi-polar asset back system moving Away from a debt system debt-based System that's just my thought on it We'll keep an eye on it but Bank of America and the most recent published Paper said that cbdc stable coins are The next logical step and develop a Monetary monetary related systems cbdc's

Do not change the definition of money But will likely change how and when Value is transferred over the next 15 Years you want to give yourself a little Runway there did you Central Bank digital currencies had the Potential to revolutionize Global Financial systems and maybe the most Significant technology advancement in The history of money now the collapse of Terry USD and the subsequent Investigation of stable coins in 22 did Not stop the widespread acceptance of Cbdc's the study also found cbdc's Present certain dangers and might lead To increased competition for Traditional Bank deposits it further warned that it May threaten National Financial Independence well doesn't it all come Back to that control relevance and power That's what we're talking about They also cite that it may be a decade Away before it's ready I beg to differ But we'll see Maybe maybe the Band-Aid is In the meantime right that's what They're pointing to right however let's Take a look at this because things are Blossoming when it comes to web3 it's Xrp Healthcare introduces its head of Global strategy I'm only going to give You the last piece of this because it's A very new entity it appears but xrp Healthcare intends to do this

Simplifying and creating fast payment Transactions between Market participants And bringing transparency by way of Tracking Pharmaceuticals From their Inception to customer Combating multi-billion dollar Counterfeit medicine industry with an Interface for interactive engagement Between customers and healthcare service Providers Via Mobile and web app well I Want to know more about that that's for Sure uh if you guys have any more Information please share it with me and Right here is the one and only Brad Garlinghouse CEO of Ripple shout out to You Brad Who thinks the SEC lawsuit will be Resolved in the first half of this year Optimistic this will certainly be Resolved in 2023 and maybe the first Half I feel very good about where we are Relative to the law and facts this Entire conversation is fantastic I'm Going to let it play and then we got Some thoughts and I'm also going to give You the details on where he will be Speaking tomorrow so take a listen to This here we go indicative of to some Degree a crypto winter that I as you Just suggested has changed in tone from How the last Davos in terms of just There was a lot of hype a lot of noise Around all things crypto at the last Davos and I think seeing the change and

I actually think it's a really healthy Change that there's more focus on Utility are these Technologies solving Real problems and I think to your your Question you know I think to the extent There are companies solving real Problems for real customers and they're Going to continue to grow regardless of The environment is their continued Contagion I think obviously continue to Hear noise about what's going on with Dcg and Gemini hard to know it sounds Like that that could work out in a Constructive way I think all of this has Not been great for crypto at large but Again if you just focus on companies That are solving real problems certainly Ripple had a record 2022 we'd rather see Crypto do well at large but we had a Great year signed up more and more Customers more and more volume going Through our payment rails and in terms Of your outlet for 2023 we've seen a bit Of a bump for Bitcoin in the crypto Markets you expecting that to continue As it's just a just a little bit of full Soap well I've tried to stay out of the Short-term price prediction on all Things Bitcoin if I uh or crypto in General I'm I'm long-term very bullish Because I think these are technologies That can solve real problems at scale And I think when you have kind of new Emerging Technologies not dissimilar

Than frankly the the internet and kind Of the.com bubble sometimes the hype Gets ahead of the reality that comes Into balance over time but we shouldn't Forget you know really not that long ago 21 years ago Amazon during the.com Bubble almost went out of business you Know so the fact that you're seeing some Changes in the crypto world I think is Can be healthy for the long-term health Of the of the industry and yet FDX Appears to be a very high profile case Of fraud they're serious Regulatory and Auditing gaps that went on with that Institution and yet at the same time What I'm reading is so many people have Been critical of SBF for having this Close relationship with the regulator is The fact that he visited Gary Gensler so Many times so where do you draw the line We need to strengthen regulation and Oversight in this industry but how close Should the relationship be between your Peer group and the U.S Regulators who Are looking at these institutions yeah First of all I think you're exactly Right I you know we we talk about this As a crypto problem but really this is Just fraud and I think in some ways not That dissimilar than Bernie Madoff and When when Bernie Madoff occurred you Know we didn't totally restructure how We thought about oversight and regulate Nation of hedge funds you know we

Realized that hey we clearly in that Case also the SEC had overlooked and People had reported to the SEC they Should be looking into Bernie Madoff so I I know that the SEC had met a bunch of Times with SBF uh I don't know the Specifics of what types of oversight They were applying I do think this is a Fraud I don't view this as a crypto Problem at large but to your point I Think regulatory Clarity globally is Important and we're seeing a lot of Countries I mean here we are in Davos And Switzerland's clearly one of the Country's leading in providing Regulatory Clarity in early stage you Have the UAE leaning in the UK Japan Switzerland sorry Singapore the U.S is Notably absent from that list and I Think in some ways The Regulators in the US have added confusion to the crypto Marketplace and let's talk about those Regulators in the US the SEC Brad let's Get a check in on what's going on with That lawsuit uh with the SEC and ripple Are you nearing an end potentially are You planning to settle with the SEC well We have always said that we would love To settle but it requires one very very Very important thing and that is that on A go forward basis it's clear that xrp Is not a security the SEC and Gary Gensler has very outwardly said he views Almost all crypto as a security and so

That leaves very little space in a Venn Diagram for settlement that the case is Now fully briefed in front of the judge And you know judges take hell over long The judges will take you know we're Optimistic that this will certainly be Resolved in 2023 and maybe the first Half so uh we'll see how it plays out From here but I feel very good about Where we are relative to the law and the Facts so you are you going to wait for The judge to come out with a decision on This one I'm very optimistic and I think Absence some significant change in Posture from the SEC I can't imagine That we won't have resolution from the Judge I also will point out and I've Certainly something I've heard here in Davos repeatedly is how important this Is not just to how Ripple it goes Forward but also really the whole crypto Industry in the United States and I keep Reminding people that outside the United States crypto is still thriving rip People still thriving and we should make Sure we're continuing to engage non-us Regulators as well I mean it's also Hardy to hard difficult to see When so many people have lost a lot of Money but speculating and the key word Here is speculating on the price of Bitcoin and various other Cryptocurrencies I remember back at the Peak there was a lot of talk about

Institutions getting involved given what We've seen given the price action given The drawdowns given the numerous amounts Of fraud cases that have gone on in the Space doesn't it feel like the hurdle is Extremely high if not impossible now to Get institutions involved if you were Sitting on a board of a pension fund how Could you justify to them that you're Going to get involved in Cryptocurrencies well I think it depends Upon what how we're defining Institutional involvement you know uh When I think about institutional Involvement with ripple I'm thinking About financial institutions Banks Payment providers who are using our Technologies to solve a cross-board Payments problem they've continued to Engage we've continued to grow and so I Feel good about that uh but look I think Any time you have this kind of change You know people take a moment I also Think and I I pointed out in one of the Sessions I was in at Davos here Yesterday is you know we talk about Obviously crypto is down 65 percent Tesla is down 65 Facebook is down about 65 percent no one's saying hey we Shouldn't invest in Tesla or Facebook so I think we we have to I mean clearly I I Would much rather not have the Volatility we've seen in crypto in 2022 But I think we also have to look at that

In concert of other kind of growth uh Investment areas and again to your point Most of crypto has been speculation if It's just speculation I don't think That's long-term sustainable we need to Focus on utility and make sure we're Solving problems for customers wow I I Got to tell you I don't know if anybody Could be more poised with everything That is pointed at them in this case at This moment and couldn't say it any Better right shout out to Brad Garlinghouse with an incredible Interview and really poised on use case Not just speculation Speculation is not sustainable doesn't Mean that it's not good right but it's Not sustainable on its own you got to Have real use case application and I Believe that's exactly what Ripple has Been doing is building the market Infrastructure in the financial system For exactly that I also happen to Believe poli-sign is also that because They are positioned to tokenize the Entire Capital markets and do custody For them as well as well as a settlement So pretty remarkable uh conversation and Words and comments from Brad Garlinghouse and expecting a resolution First half of this year and just for Everybody who doesn't know he will be Speaking on the panel of the world Economic Forum tomorrow and just to let

You know it will be Right here it is at 3 P.M CET time we Will do everything to get what we can From you from him uh on his time there Remember he will be sitting on stage With Central Banker from the Netherlands As well so you know uh it just tells you The level of respect and understanding That the financial world has and the World leaders have about Ripple's true Power and I believe xrp as well not Financial advice for me or anyone else Just my digital perspectives I'll catch All of you on the next one

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