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Welcome back to the show everybody check Out these headlines we have for you the Dark Side of Central Bank digital Currencies but The xrp Ledger and hooks Baby we got Twitter and payments and how About this could the xrp buyback become The Shane Ellis Theory oh somebody wrote That beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody check This out we're at 1.08 trillion dollar Market cap for crypto we're off by 1.8 Today good afternoon Bitcoin 21 23 100 Plus ethereum almost 1600 bucks tether Market cap 67.8 billion right now and Xrp 40 cents now let's take a look at This I want to show you something I Don't know if you've all been following I use the chat GPT uh artificial Intelligence platform I've been using it On my own looking at it it is Fascinating it is really fascinating and Creepy all in one shot but nevertheless It is where the world is going and you Know what Samba Nova right here is a Leader in artificial intelligence very Similar to the same thing you see with Chat GPT it's on link two are you Kidding me And as a leader in AI Forbes is saying It's going to be more than a one Trillion dollar market in just by 2029. Unbelievable linked to Cutting Edge Baby
Poli-sign Ripple uphold linked to itself So many other great products and now ai2 Click the link of a sponsor underneath The video do not mess around Take a listen to this if you're Wondering where the money's going to go Listen to Grant cardone's Brother Gary Cardone talk right here and shout out to The wolf of all streets Take a listen and Shout out the wrist For the clip the crypto world because The painting industry has a massive Amount of problems in declining he Immediately goes crypto world to the Payment industry hmm I wonder which Digital asset has been highly laser Focused on that exact use case and pain Point Three credit card transactions and Having your credit card declined just Because the guy the use the the provider Of that car may not like you anymore That happened in Russia one year ago all Visa all MasterCard you're not using any Of this so the Sovereign value to me as A bit of a creature who doesn't like Being controlled by uh people I don't Even know their name I didn't vote for Them I liked crypto because at least for A small percentage three percent five Percent ten percent I I have some Sovereign I've managed a Bit of my sovereign risk right like I Just want to leave the country now and
I'm gonna go live on the sailboat and I'm not going to be tied to a currency Or a passport uh that makes me do Certain things so that's kind of how I Ended up here I find it intellectually It is the most exciting industry I have Ever been in I couldn't agree with him More and he makes some very valid points And you're going to see some information Here that really just kind of opens the Door to this whole conversation but There's a dark side to it all right Today we have to touch on this and shout Out to Jeremy Hogan for this post here He reminds us that attorney John Deaton Is attending the actual hearing for the Library case today it is the remedies Hearing under the SEC and Library case We will keep you posted to what comes From that but it is important to Understand all of the outcome and ruling And decisions made in that case Um it is the First Circuit Court so it's Not the second Circuit Court where Ripple's case is but nevertheless Everything happening that affects the State of cryptocurrency is a very big Deal and shout out to those gentlemen This is the president of Federal Reserve Bank of Minneapolis let's just hear him Say it Is pretty skeptical I keep I'm pretty Skeptical too but when it comes to Digital money in Central Bank digital
Currencies none other than the president Of the Federal Reserve Bank to tell you What he's so skeptical about Because I'm pretty skeptical I keep Asking anybody anybody at the fed or Outside of the FED to explain to me what Problem this is solving a digital I can Send anybody in this room five dollars With venmo right now right no seriously So what is it that a cbdc could do that Venmo can't do And all I get is a bunch of hand waving I get a bunch well maybe it's better for Financial inclusion maybe it's better For cross-border remittances maybe is There any evidence that it is and you Know they said well what about China China is doing it but I can see why China would do it if they want to Monitor every one of your transactions You could do that with the Central Bank Digital currency you can't do that with Venmo If you want to impose negative interest Rates you could do that with the Central Bank digital currency you can't do that With venmo and if you want to directly Tax customer accounts you could do that With the Central Bank digital currency You can't do that with venmo so I get Why China would be interested Why would the American people before That because I'm pretty skeptical I keep Asking anybody anybody at the fed or
Outside of the FED to explain to me what The problem is here's what I want to say To that first of all great questions we Know why China want to do it because They control their people like crazy Right But why would anybody the fed or inside The U.S government want to do it I'll give you my answer Because it helps insulate the unraveling And the controlled demolition that we're Watching of the global Reserve currency As the Petro dollar status It is no longer up for debate whether it Will happen it is beginning to happen The elevated status that the U.S dollar Receives is a global Reserve currency And as the Petro dollar is being Unwound As we speak Now I believe that will happen over Years And you will see other assets rise up to Try to sit beside it and compete with it Because in years past that is how that Has happened and I would expect it to Move back to that kind of approach too But if you think of it from that point Of view I certainly don't want to see the Central Bank digital currency controlled And directly to the dollar I think That's why you could have a third-party Example USD coin and that is not Something the government could just
Simply turn off on you Now some things would need to happen I'm Sure to help further the insulate us as Consumers and citizens as the use of That but that would put that dollar Digital or otherwise in high demand I Believe around the world because you Know it is a private digital dollar But coming back to the back end the Wholesale side where's the problem at Why would you need to do that well you Could send venmo you could send PayPal To the point to the president of the Minneapolis Fed was making let me tell You what you can't do because the venmo And the paypals of the world can't Insulate you from the unraveling of the Petro dollar now can it No it cannot But xrp is a bridge currency Ken Ridiculous It's the goal That's the goal That is the goal to become a bridge Currency a complement to the system an Insulator Even Not just a compliment Then there's this talk about more dark Side I don't know what scares me more That there's a dark side to Central Bank Digital currencies is that you can find Somebody who's excited to share it with You cbdc development is there a vision
To have everyone using retail cbcs in China yeah I've watched this a little Bit I've seen some of the pilots and my Friends have participated in some of the Experiences I think that there is kind Of two challenges for cbdc's that the Government's thinking through one is how Do you actually create new use cases for Cbdc's as opposed to fighting kind of Against WeChat and alipay for market Share right because CPC originally was Designed to be kind of a backbone Infrastructure if one of these two Companies actually running 50 of the Electronic payments in China had a Problem the China the country would not Go into sort of a state of paralysis Because they couldn't be able to pay Anything anymore so I think that was Kind of one of the ideas of cbdc's in The first place for retail use listen The other exciting idea actually is the Use of cbdc's incentivize green action Which is if you were to do certain Things in Shanghai or shinjin you Actually can earn cbdc's for your Sustainable efforts and that's actually A very interesting way to use cbcs Because it involves smart contracts Involves being able to Monitor and send You something directly to your wallet it Reminds also being able to change and Tweak kind of your behavior especially From a consumption perspective and that
Should scare the hell out of all of us I Don't know why the hell he's so excited About it But here we see the expansion coming to Japan when it comes to stable coins Again kind of leaning into the idea Notion that there would be a retail Digital dollar or dollars available Stable coins if you will Starting in June Japanese exchanges will Be able to apply a special license to Trade stable coins this could make it Possible for overseas stable coins like Tether and USD coin to enter the Japanese Market but does that mean it Does not mean that it will be easy it Says here the dollars that would back The stablecoin circulating the Japanese Exchanges will likely require a scheme In which the underlying assets are held In a trust at a Japanese Trust Bank well There you have that I want to see it show me the baby show Me the reserves I don't see that being too awful And then here we have right here Talk about making that integration that Crossing over that coexisting phase the Introduction of new technology Elon Musk Is obviously applied for payment Licensure For Twitter's platform And now it says Twitter payment is going To use Fiat but crypto can be
Implemented later on says Elon and I Think that makes the most sense get the Fiat hooked up and it'd be very easy to Introduce the crypto assets and digital Assets then you can make a market very Simply for and think of the amount of Liquidity that could be organized Immediately by doing such a thing pretty Remarkable Then we have this right here from Coindesk New crypto laws are likely Coming in the U.S whether the industry Likes it or not Says wonders if congress's separate Custody from exchanges again I have said What we're talking about here is Mirroring the conventional Market the Traditional Market structure which I Have been pounding the ground about Since we've had a channel This right here is the question bringing Up the idea of separating the exchanges From custody In order to have no more FTX collapses Co-mingling of funds and those things I believe that look outside of the Conversation of decentralization which Obviously is another whole ball of wax But I believe with decentralization the Way you get around that is you take the Chris Young's Carlo approach and Brian Brooks approach and you have regtech Regulatory technology nodes on the Approved adopted networks value
Protocols and they can monitor the Activities for suspicion All of the entities should be registered And just like in the banking system Kycaml Hey and if you want to float around on Some Network that doesn't have any of That and that's the equivalent of Working on the dark web you get where This is going Because I believe that this is where That is going But it is a Whether we're talking about inside of Ripple and the different products they Had back in the day x current X via X Rapid combined eventually and brought Into one housing unit which became Ripple net and on-demand liquidity and Ripple liquidity Hub that's how they lay It out They've grown into these things Phased into these operations I believe the same thing is taking place On a much more macro level the Federal Reserve readying fed now for payments we Know that Ripple is a partner working With the U.S faster payments Council we Know that Ripple is also working with The U.S digital dollar project in a Technical sandbox for Central Bank Digital currencies I mean what are we to make of it and by The way
Look at what's Happening Here We'd say Wednesdays we're actually going To do this with hooks amendment being Audited by Security Experts there will Be a Federated side chain with hooks Existing for The xrp Ledger ecosystem to Test it out with real xrp Hooks provide a variety of use cases to The xrp Ledger from Finance to Key Management Shout out to we'd see we'd say when and The entire xrp Ledger Labs team are you Kidding me Then there's this idea let's ask this Question right here Because we know that there has been a Buyback of Ripple shares right remember When Ripple bought back from tetragon And they bought the shares back at a Higher valuation and brought the company From a 10 billion dollar valuation to a 15 billion dollar valuation I've gone over extensively here about How Ripple has announced in their own Quarterly reports going all the way back To 2019. As it has been the case since Q4 2019 Ripple did not conduct programmatic Sales in Q4 of 2022. basically saying we Have not sold to the secondary exchanges Unless they're odl partners Also saying in the same report Ripple Has been a buyer of xrp in the secondary Market which is the retail market and
Expects to continue to undertake the Purchase in the future at market price As on-demand liquidity continues to gain Global momentum because they know That xrp is cheaper now than it ever Will be in the future and the best thing To do is to try to slowly buy it back Off the market before the rest of the Industries and markets participants and Makers who understand or will come to Understand the benefits of xrp Realize it because once they do I think You set the stage for a possible Shane Ellis Theory And I believe that they could also play A key role here is the ruling in the SEC Versus Ripple If the ruling is to come out in such a Way that let's just say that sales are Prohibited on secondary Market That may not be the case but if it is Then I would expect this to go very very Quickly because you're going to see it Come out of our hands so there has to be Some kind of Arbitrage moment on the uh On the exchanges getting it off the Exchanges 30 60 days 90 days whatever it Is to clean the exchanges out it may Take just a matter of hours if not days To do it And what would the price of xrp be then Not Financial advice for me or anyone Else it's just my digital perspectives Boy are we getting close I'll catch all
Of you on the next one
