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Welcome back to the show everybody check Out these headlines we got for you the SCC versus Ripple there's more Supreme Court talk ladies and gentlemen we're Going to talk about that and guess what Else we're going to talk about the IMF We're also going to talk about the bis Project Icebreaker you're going to want To know about it somebody wrote a Beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Could follow us on Tick Tock YouTube and Twitter and don't forget xrp Las Vegas 2023 the countdown is on ladies and Gentlemen 60 days eight hours and Counting do not miss your opportunity to Be in a room and to be able to ask Questions with Jack McDonald Nancy Beaton Joe endoso so many incredible People virtual appearance by Jeremy Hogan we got John Dean Eleanor tarot Otto Nino I tell you the list goes on Ladies and gentlemen this is going to be Remarkable look at all the incredible People that are going to be there look At this and the list is still coming Together we're still getting people that Are finalizing I cannot wait to see Everybody here and all of you as well Unfortunately this event will sell out Tickets are moving very quickly now and It's starting to pick up pace so make
Sure you get your ticket either you can Get the ticket for the Friday VIP Experience which is joining an annual Membership of dpmg and you get a free Ticket as a perk for that experience or You could get a ticket just for the General conference itself don't mess Around and we got limited room rates at Discounted rates you just click the link And book your room the discount is built In don't mess around ladies and Gentlemen this is going to be an Incredible experience Let's start right here ladies and Gentlemen this is Jeff and Steven chip On the chain and they're talking to the Attorney here for Rosalind Layton who Tells us what he thinks is going on and He wouldn't be surprised to see check it Out But Justice Gorsuch took the opportunity In the case to sort of say look one of The problems with This kind of legislation and this kind Of things that these agencies are trying To do this again this was the this Was the uh the office of the Comptroller Um not the SEC but when agencies do These kinds of things People don't have Fair notice about them So I think and I wouldn't be surprised if You know this is something that um Justice Gorsuch is picking up from
Reading the Wall Street Journal reports On Ripple case you know these are the Kinds of things that percolate upward And get on their minds and then they Write about them um so I think it's Really interesting and timely for Justice Gorsuch to be writing on the Fair notice defense Absolutely I tell you you know and this Is about the discussion of citing the Supreme Court ruling that has been Submitted in support of Ripple's Fair Notice defense again you know I think There's a good chance that this case Could go to the Supreme Court but that Doesn't mean that Ripple gets the short End of the stick here I I firmly believe There's a scenario where Ripple gets the Ruling that they're looking for the SEC Appeals it and then it goes on and on to The upper level of appeal appellate Court and then on to Supreme Court That's just how I you know what do I Know right I'm guessing like everybody Else is guessing I don't know what Happens but those are my thoughts and We're going to watch it to see what Happens for sure about that but let's go Ahead and look at this Should xrp Ledger fees be increased Ladies and gentlemen to boost the xrp Price well let's take a look at this Article very quickly here And here's the article right here
Ripple's Chief technology officer David Schwartz has lent his opinion to a Suggestion to raise the cost of Transaction fees on the xrp ledger to Reflect the value of transactions and Boost the xrp price in a series of Tweets yesterday David Schwartz gave his Opinion while explaining his stance Schwartz noted that though he responded In the affirmative to the uh poll that Was uh put forth he did not believe that The transaction fees should be utilized To manipulate the price of xrp Artificially however he conceded that The transaction cost needed to reflect The actual cost it imposes on the Network for more efficient resource Allocation furthermore Schwartz Disclosed that he did not want the Network to lose its Edge as a low-cost High-speed transaction blockchain Nonetheless he asserted that he did not Also want node operator subsidizing Transaction fees my thinking is that if The transaction fee is less than the Actual cost cost of a transaction then We'll be destroying the value by Executing transactions and discouraging People from running notes Schwartz Surmised whereas if the fee is more than The cost we're adding needless friction So there you have that and then he goes On here to say The xrp Ledger is favored In payments due to its cheap and fast
Transactions as we all know in the Average transactional Network currently Is less than a penny taking three to Five seconds to complete so there we Have it you know Um I I love that David interacts with People from time to time about their Questions and concerns about what goes On with the xrp Ledger and things of That nature there was recently Matt Hamilton and David Schwartz contributed To a thread that was talking about xrp Being backed by gold I believe it was And you know I don't believe that that Is a possibility I don't believe it I Don't believe it aligns with the Ultimate use of xrp I know a lot of Other people do I'm not trying to shut That down or wet blanket that I just I Don't see the need for it you could just Tokenize gold and use gold Um I think xrp works best as a bridge Currency and I think it would work best If if you had multiple assets on The Ledger backing that bridge currency that Just seems like the best most sword way To do things to me but what do I know Right well I'll tell you what I do know Central banks show continued demanding Gold in 2023 as Per a recent report from The world gold Council which noted the World central banks accumulated 31 tons Of the precious metal in January Well that's a lot of gold now I'm trying
To do what I can I can tell you that for Me and Mrs backup but man What do they know right I haven't see Again now if we go to a layered system Here I don't think Fiat money goes away I think it turns into you know physical Cash turns into Central Bank digital Currencies over time right and I think You Shore up those digital cbdcs with Things like gold backing and other Assets and I believe that's what the World and the banks and the central Banks are actually preparing for I Believe there has to be some kind of Transition to a new system that moves us From a debt-based system to a Multi-polar asset back system and we'll See how that goes you know if I'm wrong I'll make the video but I don't pretend To know when but I do think that's where We're going Meanwhile in Australia crypto Legislation could drag out to past 2024 Is what we're hearing so we're going to Watch that obviously there's been a Global push this year and it's very Noticeable that there is a global Cooperation certainly amongst the G20 to Try to get everyone on board so they can Close that uh that window for Arbitrage On regulation for cryptocurrency For Molly Elmore give her a follow is The IMF suggesting that Ripple or Stellar or the solution to cross-border
Payments the problem On March 3rd the IMF released a 38-page Paper in which they did highlight uh Ripple xrp and xlm and Stellar Foundation and it's pretty interesting To me because I'm not going to go Through this whole thread which is Obviously fantastic you should read it Molly is amazing she does incredible Work but what I will say is is that You know uh I do believe there's going to be some Major role played here and speaking of Which Dr Martin heisbuch here from Uphold shares this about the bis the Bank of international settlements the Project Icebreaker now the project Icebreaker doesn't really it deals with Cross-border payments and cross-currency Transactions but it doesn't say anything About Ripple or xrp or Stellar you know For clarity nor does it say anything About any other token but there is a Theory that uh people are asking the Question could Ripple be involved or is This a Quant token Thing right so people are also Entertaining the notion that this looks Like it could be Quant that could be Involved in quads Network or it could be Xrp as well you know I try to think to Myself because look I don't know Everything about Quant but I know it's It's really interoperable with other
Networks I know that is one of the huge Huge aspects and attributes of Quant now When I think about that I think about How Quant and The xrp Ledger could work Really well together is what it sounds Like to me because the xrp Ledger is a Decentralized Exchange So you could have one network working on The front face talking and Interoperating with all of these other Networks Tying into a decentralized exchange for Settlement now I could be wrong about That but that's what it feels like as a Working relationship between these two Different things Seems like very complementary to me but I mean I don't like I said I don't know Everything about Quant but I do want to Take a listen in this video with you Check it out The central banks of Israel Norway and Sweden have joined forces with the bis Innovation Hub Nordic Center in Project Icebreaker which aims to explore how Retail cbdc systems can be linked Together to enable efficient International payments project Icebreaker is exploring a specific model Linking National Retail cbdc systems Together the Icebreaker Hub Roots Payments and allows National cbdc Systems to talk to each other despite Being based on different Technologies in
This project different distributed Ledger Technologies used by each country For their proof of concept cbdc systems Were connected to the Icebreaker Hub Let's see how this works say Alice in Stockholm wants to send money to NOAA in Tel Aviv to pay for a camera she bought Online When she enters Noah's payment address And the amount into her mobile app the Icebreaker Hub helps her find the best Available exchange rate this is Calculated from the rates foreign Exchange providers submits to the Icebreaker hub Alice's payment is then broken down into Two payments one in Swedish e-krona to a Foreign exchange provider in Sweden and Another in Israeli digital shekels from The foreign exchange provider in Israel To NOAA these two payments are Coordinated using a form of digital Escrow known as a hash time locked Contract htlc the payment from Alice to The foreign exchange provider will only Be released if the foreign exchange Provider has paid Noah if no foreign Exchange provider can exchange Swedish e Krona for Israeli digital shackles the Icebreaker Hub will find a bridge Currency for example Norwegian krona That can be exchanged for both Swedish E-krona and Israeli digital shackles and We'll use that to bridge the gap Swedish
E krona are exchanged for Norwegian Krona which is in turn exchanged for Israeli digital shackles The Hub will always choose the payment Path that is cheapest for the payer And there you have it and I tell you That looks to me a lot like uh This Is still a very inefficient Um uh approach now obviously you know we Believe from the Ripple's perspective With our Ripple net we've sold that in Certain markets Um but with a with digital currency I Think you can go one step one step Further Um you can do these payments in a few Different flavors you know one is Through an intermediary Which is really a bit more like the Existing sort of correspondent model and That seems like what what James Wallace Is mentioning there what we just saw From Project Icebreaker right it seems Like the way they have that set up is Through the intermediary right just a Normal path but being able to do it Faster instead of almost immediate right That's that's what that feels like to me But as he said here you could do this With adding in a digital asset let me Just back this up one more time here Um but this you know it's a facility Very inefficient
Um uh approach now obviously still a Very inefficient approach yeah we Believe from the Ripple's perspective With our Ripple net we've sold that in Certain markets Um but with a with digital currency I Think you can go one step one step Further with a digital currency I think You can go one step further and I you Know what and when that digital currency Resides on a ledger that also is a Decentralized exchange I think that one Step further makes quite the difference Not Financial advice for me or anyone Else it's just my digital perspectives I'll catch all of you on the next one