Welcome back to the show everybody check Out these headlines we have for you Today we got this John Deaton on Ethereum and security designation for Proof of stake he's going to talk about It the EU first major jurisdiction to Agree on crypto framework we got brics News and expansion you're going to want To know about it Brazil's leader what's He calling for end of the U.S dollar Dominance in trade and guess what else We got Ripple partner gets a license for Cross-border Global Payments baby Somebody wrote that beautiful intro Thank you [Music] [Applause] [Music] Digital perspectives with Brad kimes Come on in [Applause] Welcome back to the show everybody you Can follow us on Twitter and YouTube for Exclusive content right now 1.31 Trillion dollar market cap for crypto The market is up 1.8 percent good Afternoon everybody 30 400 plus for Bitcoin right now and two thousand Dollars and fifty cents for ethereum That's what we're looking at in tether Market cap 80.6 plus billion dollars at The moment it's what they're saying and Xrp is 51 cents right now ladies and Gentlemen let's take a look at this xrp
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The infrastructure for this incredible Digital Revolution we are on Oh boy here we go couldn't all be good News right Justin Sons gets a summons For SEC lawsuit here Uh this is uh something we are going to Follow just like we followed everything Else whether it's Voyager or whether It's Celsius or whether it's FTX you Know we see Justin sun has come under Fire now we're going to keep an eye on It we'll bring you the latest on it as We get more information but until then Here is John Deaton representing 75 plus Thousand xrp holders in a class action Lawsuit and by the way he's going to be On a fireside chat on that stage we're Going to do some q a you're going to get To ask questions if you got yourself a Ticket you're going to get to talk to Him Cannot wait it's going to be amazing Take a listen to this clip what he says Here When eth was a proof of work System just similar to bitcoin you're Relying on the miners to and computers Worldwide to solve some cryptographic Sequence solve this mathematical problem To get the rewards so that was Considered a A system that is Decentralized however when you merge to Proof of stake then you're the the People that own the tokens and the more
Tokens you own theoretically have an Impact because they control and secure The network and so proof of stake is Considered more centralized than proof Of work and so that's basically the Theory of how ethereum could have moved By proof of stake to a to become now a Security and what if you look at that New York case I'll tell you uh the New York according to the lawsuit I'll read To you what it says it says by shifting Just through the audience sometimes New York New York attorney general's lawsuit Against kucoin that said eth is a Security yes quote by shifting to proof Of State eth no longer relies on Competition between computers but Instead now relies on a pooling method That incentivizes users to own and stake Eth End quote the shift to proof of stake Significantly impacted the core Functionality and incentives for owning Eth because etholders can now profit Merely by participating in staking And that's important because look at Gary gensler's view on staking he shut Down Kraken staking he and and they Removed it they're actually removing Withdrawing their East staking for U.S Holders uh they threatened coinbase a Year and a half ago if you offer that Lend product like blocks I had we're Going to sue you and so staking because
It's similar to gaining interest sort of Speak uh from a bank that's where They're getting they're they're focusing On and so that's the real danger for Eve And that is the real danger for eth you Know I've said this many times but I Want to highlight it again what I see Taking place is that the New York Attorney general is essentially doing SEC the favor of mentioning eth as a Security in that Q coin lawsuit and I Think because the SEC doesn't want to Directly Sue ethereum him over it Because they know that there's the Hidman emails and that's a problem for Them so I think having the New York Attorney general do the bidding for them And covering that angle does a couple of Things one let's let's look at it in a Macro let's pull back a little bit proof Of stake proof of work consensus Federated Byzantine agreement right These are different technologies that Are used by different protocols and I Think it's more about legally going After the different technical protocols And the way that they operate To get a clear legal definition about Them and then we have these clear legal Uh uh uh rulings imprecedence or Whatever they end up being That allow for these different buckets For these projects to fall into so until We get this clarity about what is really
Proof of work legally what is proof of Stake legally what is xrp consensus Federated Byzantine agreement legally Then we could start to match up the Other 20 plus thousand cryptos in the Space based on how their Network Operates and you could quickly assign a Bucket to that particular protocol in Which it would fall into and how it Would be regulated that's the that's the Method to the madness I see happening Here and in the interim we're watching Gary Gensler play whack-a-mole right With the entire industry with regulation By enforcement It's scary but that's what's happening Right here we see next week however the EU is set to become the first major Jurisdiction in the world to agree on a Far-reaching crypto regulatory framework Officials in the industry are already Talking it up and that's what we're Wanting to hear right there because the EU is huge right 27 29 nations in the EU Whatever the current count is it's a lot Right and we know that Ripple applied For a license in Ireland to serve that Entire EU jurisdiction as well and boy Have we got some news to you about a Ripple partner getting a license for a Global cross-border Payments hang in There From Molly Elmore give her a 5 00's negotiations with the IMF on the
Loan were terminated Tunisia is Considering joining bricks as said the Spokesman now listen I want to share This because if you remember yesterday I Believe it was we covered the uh one of The presidents Out of Africa talking About former president Out of Africa who Had explained that if you take the money From the World Bank or the IMF then You're held to what they want you to do There are strings attached and that's The problem here so now you see a lot of The incentive for these other countries To want to join brics to try to avoid That ah but I believe they will run into The same thing in the brics Coalition It'll just be a different Puppet Master Saudi Arabia is buying Russian oil at Record levels and laundering it on onto European market to evade U.S sanctions Nothing new here but it goes to show That the sanctions are not harming and Stopping Russia from their actions the Way they were first thought to be Now we see Brazil's president calls to End U.S dollars trade dominance this is In fact a brics coalition member and This is a country that has deep ties With ripple are they connected in a Manner that can serve one another in a New world a new Financial system we yet To know that answer with a hundred Percent Clarity I am speculating that There are some deep ties there and here
We see Brazil's leader arriving in China To meet another brics Coalition member I'm sure it's nothing Right what could this be they're all Calling for an end to U.S dollar Dominance they're all visiting one Another whether it's president gee to Saudi Arabia which is has an mou Memorandum of understanding 15 billion Dollars with bricks We see that Brazil leaders going to Shore up their relationship with China Right we see the trading using the Yuan Instead of the dollar in certain Instances now There is a change a coming ladies and Gentlemen and I believe that a company Like Ripple Is positioned to serve just such a Moment On every level whether we're talking About Central Bank level or whether We're talking about corporate treasury Level businesses however you want to say It remittance companies they have built The infrastructure for so many years to Be prepared for A Moment Like This they Really have now with that being said I Want to also remind you as well that we Are looking at a new relationship we Covered this a couple days ago from the Central Bank of Montenegro in Collaboration with ripple This is another amazing moment to
Recognize as well as this one Thunes secures a French license for Global cross-border Payments thunes is a Ripple partner and you should be Following Matthew liner Now can offer cross-border payment Services to non-bank financial Institutions in the European Union which I just reported to you on that is about The past and most far spread Wide-reaching agreement on crypto Regulatory framework Anybody else smelling what we're Stepping in here because I am And we see here that Dunes gets that License I want to remind you that thunes is Connected to Adijarawafa bank via Ripple the leader In Enterprise and blockchain solutions And its Global Financial technology Ripple net the connection to Ripple net And dunes will allow Audi jar Waffa Banks customers to receive transfers From around the world initiated through Thune's Network in a matter of a few Seconds other Moroccan Banks customers Can be reached using the local clearing Morocco is the third largest remittance Receiver in Africa after Nigeria and Egypt with a large dispora it says a Dynamic market and a sound regulatory Framework to Foster digital payment Services and reduce costs the World Bank
Estimates that personal remittance Inflows increase strongly during the Pandemic reaching an estimated 7.4 billion USD by the end of 2020 Brooks Entwistle said this at the time We're thrilled to announce this Extension to our existing partnership With dunes and together we look forward To providing faster cost-effective more Transparent cross-border payments Experience for customers in Morocco and The greater Mena region which is Middle Eastern North African region right this Is very exciting to me and it does say Ripple net which doesn't necessarily Mean odl which is xrp settlement right But if it's a phase-in operation it Always has been and it's okay that we Speculate and wonder if they'll expand From using ripponet to ultimately using On-demand liquidity where you can gain Extra savings you tell me what you think They'll do right I'd love to hear it put A comment underneath the video that's Going to do it for me hit the like And Subscribe leave a comment below not Financial advice or me or anyone else It's just my digital perspectives I'll Catch all of you on the next one
