Ripple – Coil Cinnamon Video | Samsung going Crypto | Thailand SEC Approving Securities and Stocks


art the stream there we go and I think we’re live me uh look for the notification and let this actually go live and see what’s going on we see here I decided to my channel here we go give it a minute you keeping that there we go that uh a couple people coming online I decided not to put up the title and just jump right into the into the live stream the other day I was setting up the live stream and I put up the title page and I said coming soon and a bunch of people left so just want to make sure we jump right into the video I don’t need to give any intro fluff that way we can start start talking and we’ll go through it Edie what’s going on good morning glad to see here glad you made it another beautiful morning outside it’s about he goes like 75 76 where I walking is already getting a bit humid so any I’ll give it a give it a few minutes we got a ton of stuff to talk about today I’m gonna keep it to about 45 minutes I’ve actually got a meeting bone meeting at 9 o’clock that I have to be on for a couple hours so we’ll start kicking this off here in a minute you got a haircut or I got a haircut all right let me see here let me pull up my notes as we go through today I’m going to go through a number of really interesting topics I’m also going to pull up and and share the screen kind of bounce back and forth a little bit and there’s actually yeah every day every day I get a haircut humm so anyhow as I go through so some of the things that I wanted to cover today that I thought were of particular interest really caught my eye over the past couple days number one Samsung embracing cryptocurrency digital asset embracing it with the launch of their new s10 so I want to take a look at that and talk about the significance of Samsung entering this space I want to talk a little bit about what’s going on with coil and the IOP there’s a new company that is getting ready to launch then we’re gonna pull up pull that up even though there are entry pages basically just that kind of a coming soon but I think that’s critical to talk about and we’ll dig into that a little bit and then we’re going to go into our government regulation section government regulations we’re gonna look at what’s going on over in Thailand because that’s very telling as to the direction that many governments will start moving into and so from there I think I skipped over a point here so XRP ripple news that’s we’re gonna cover the coil and coil partner and from that that’s actually also a real-world utility case however so as we move down from government regulation we’re gonna get into real world utility now with in real world utility there’s actually three things that I want to look at one we’re gonna talk about under the XRP part which is the coil the second I mean actually Michael Jordan from the other day it asked me about something called Bab and backs never heard of it before looked it up I thought that that would be something interesting to dig into and then the next thing is cred and we’re gonna look at what creds doing with uphold and this has been talked about before but it’s going live now in the US so I want to talk about that and get some opinions on on what you guys think about each now let me take a look here ripple XRP preacher xrp baby oh yeah I haven’t I haven’t seen you on before if you have been on that’s awesome at this if you’re new to the channel welcome the Euro XM Bank video I did watch that I thought that was pretty decent there’s so much stuff going on right now um there’s a ton of stuff that goes on behind the scenes sorry if I’m looking over to the other side that’s because it’s my other laptop and that’s where I’ve got the the chat going on so try not to focus in and talk to that screen so Eddie out you know the world as we know it’s it’s changing significantly let me just exit out of this is just a reminder the world is really changing significantly and what we’re seeing is that global leaders whether it’s government or corporate are truly beginning to embrace not just the blockchain technology but also digital assets and in doing so they’re really preparing for mass mainstream adoption so when we hear a bunch of FUD about digital assets we can firmly say that digital assets are here to stay and when we look at Samsung the fact that Samsung is getting into this space which we’re gonna talk about in a minute is really all telling hey this is Jeff with a hotter report if you don’t know I truly appreciate you guys for joining on early in the morning with the morning crypto and let’s let’s jump right into it taking a look here at current news and current news this topic is really something that’s relevant in the space something that’s that is relatively new coming up and so what we’re going to talk about today is Samsung so Samsung is launching their newest s10 mobile phone and really it’s amazing technical new me personally I have an s8 but I didn’t see any reason going to an s9 but the s10 is really moving mobile application in the direction of being blockchain or digital asset friendly and really Samsung as one of the largest players in the space is taking the first initiative now if you go back a number of months back there was and I don’t know why I should have put down the name there was a company that popped up that was determined to develop a mobile phone that was secure for specifically managing your digital asset holdings and trading and here Samsung has the first launch initiative and they’re going to be doing it at a relatively reasonable price but it’s also going to be coming from a known variable now the question though is we know that basically we know the quality of the Samsung phones but do we know the that the Samsung phone is going to offer when it comes to their crypto wallet so let me up let me just switch switch screens here for one second I’m gonna go to there we go live screen um hang on one second I got to find my thing here here we go oh I forgot to transmission it over there we go so got a little bit of moving around so anyhow so the samsung galaxy s 10 and what I want to look at here if we go into the news the news definitely mentions the fact that they are launching with the digital asset wallet let’s see if they have anything yet on their website and so I think this is definitely you know a big step forward as I had mentioned I don’t know if you guys have any comments on on Samsung getting into the digital asset space and really being able to manage your your wallet I mean if I don’t find it here I have another article that we’ll pull up and see and see what we’ve got they had a whole article written about it so I figured out pull up the s10 website and my fault for not digging in and finding the exact space that mentions digital assets I want to see if they had it on the website and I don’t see it here so anyhow let’s go back let me go back to see here back a page and I’ll go back one more page here there we go so this was on Market Watch actually so this is a built in private key a feature of the new Samsung Galaxy S ten this was on Market Watch so I think again this is this is important and this just this was just this past week when they had mentioned it and I take this back well galaxy fold has grabbed the headlines with its near 2000 dollar price tag that’s a different product that’s their I think their dual screen or their foldable mobile phone but this is it right here so its new S 10 Galaxy smartphone would include a feature to store and guard Bitcoin and other cryptocurrencies so obviously we know that Korea is way ahead in the space with with digital assets we know Japan is way ahead in the space with digital assets I think really overall you know if we look at Asia Asia has taken a lead in the digital asset space so it really wasn’t a big surprise that we’re seeing samsung launched with that here’s the security galaxy has ten is built with defense grade Samsung Knox as well as secure storage backed by Hardware which houses your private keys for blockchain enabled mobile services and that’s that’s what was stated in there in a press release so let’s see my Vinay it also might have to switch to this ten I am Mike you know I would definitely love to take a look at the s10 when it launches and really get into and see the quality of the phone but really get an idea of what it’s doing you know with the with the digital asset wallet you know so this is let’s say you’re after Samsung dropped the news of the private key features one crypto analyst said it’s time for Samsung rival Apple to step up its game honestly I don’t I don’t know that Apple is going to do that you know in the near term you know again Samsung has a motivation based on where it’s coming out of with with Asia being one of the leaders in the space and Samsung also overall built on the Android platform think has a lot more flexibility when it comes to developing this type of solution and we’ll see if if Apple can can manage and and really come to the forefront as well so all right let me let me transition back here and let’s go on so I don’t know if you guys have any further comments on that but I thought that that was really interesting and you know to take a look at so the next the next big topic that I wanted to go over is coil and then this tweet was actually on the 21st so just a couple days ago and coils tweet had to do with cinnamon video so cinnamon video just announced that they’re actually building a new platform so this is directly from the coil tweet a huge news today cinnamon video just announced they’re building a new platform for video streaming this will be the first major content platform built entirely on coil so this is definitely a big step again this is coil providing micropayment solution but going into real time real world use case the reason why it’s important to talk about XRP is because the primary digital asset that is exchanged or utilized on coil is XRP so if you guys haven’t registered for a coil yet go ahead and get on register for coil what’s nice about coil is that it actually allows you to it allows you to monetize your own content but it also allows you to add X amount of dollars that will then be converted into XRP that will then be utilized to pay other content providers as you visit their website so it could be through a YouTube and it uses it uses the Twitter twitter feed and everything so it’s just a real seamless process so if you haven’t checked out coil yet I highly recommend that you do but again going back to the that cinnamon which is now a video streaming solution not yet live is going to be built on using the utilizing coil but it’s also utilizing inner ledger and so a inner ledger ripple coil all tied in and this is really again one of the first real-world use cases that will come to the forefront and so when we’re talking about micropayment my anticipation because it isn’t live yet is that the cinnamon dot video will somehow a charge or will collect through through the micro payment monetization of coil will allow them to be compensated or the content that they they put up so I thought that was really important um alright let’s see let’s see what else we have here so that that’s on the coil front again that’s that’s real-world use but with XRP the next thing that I thought was really vital to talk about now one of the segments that I like to cover us in really more in-depth than others on YouTube really has to do with government regulation and so on the government regulation side what we’re seeing is a precedence being set really around the world so Thailand recently put out a put out some new regulation or regulatory clarity through their SEC and this is really really interesting because what we’re what’s happening in Asia overall what’s happening in Thailand right now is that they’re providing the regulatory clarity that we’re lacking still in the US market but what does happen as we’re beginning to see this regulatory clarity we’re beginning to see focus on this economic movement and again as we know the u.s. is trailing behind the US is making steady but slow progress maybe you know we’re seeing little bits of it at the Fed level we’re definitely seeing a lot more movement at the state level at the state government level you know so if we look at like Wyoming but but overall when we’re seeing regulatory clarity in other countries so again Thailand specifically this really helps set a precedence of acceptance for digital assets in the different use cases so again this is monumental and then really the point again just to emphasize why regulatory clarity is so important and it really allows more mainstream adoption it allows the expansion of the digital asset space and so you know when we when we look at regulatory clarity we don’t necessarily always have to look at what’s happening in the US we can look outside of our own orders so what what happened a couple days ago in Thailand and here’s two primary statements two primary quotes I was looking up at a lot of different stories I looked at their press release but I found two good quotes that actually appeared on coin desk this was on the 22nd so yesterday and so the first quote that really stands out according to a report from Bangkok Post on Friday Thailand’s National Legislative Assembly has approved an amendment to the Securities and Exchange Act legalizing the issuance of tokenized securities such as stocks and bonds now this has really been talked about considerably in the US market in terms of the direction that digital assets will go the the direction that the stock market will eventually go that you know there’s really that anticipation that we’re going to begin to see the tokenization of securities like stocks and bonds so the fact that the Thai SEC has now legalized the issuance of toke of these tokenized securities is is monumental so again when we talk about setting precedents again we don’t necessarily always have to look within our own borders because countries and courts do look outside a border when they see a precedent especially when it comes to economics now the u.s. might not react immediately they might not embrace it exactly the way Thailand is doing however we will see a ripple effect throughout Asia potentially throughout other areas in the region that will see what Thailand is doing and they’ll want to keep up especially as they’re competing with companies listing they’re there or having their their stocks or their stocks or bonds tokenized so so that’s definitely again that’s definitely a major step forward now the second quote here is from the sec deputy secretary a secretary general let’s see tip Sudha tavarov or Amara he said in the article that the legislative effort clears the way for tokenization platforms in the future and will help develop the digital asset ecosystem and really you know he’s a hundred percent spot on that with this clarity with this move by the SCC in Thailand it will 100% help develop the digital asset ecosystem now again when we look at the direction that the world is moving in and the significance the importance of maintaining our position in the space and staying ahead of the curve right now the US has definitely fallen back a little bit and so we’re seeing other parts of the world that are really stepping up their game and they are becoming the leaders in the space so hang on one second have a little bit lighter of a showing today but the show has to go on I mean I enjoy doing the the live streams I enjoy doing the videos as well and so the live stream it’s nice because you get a little bit of engagement with people that can come on and others can you know watch later when they want to but I really have been enjoying setting up and doing the live streams and you get to cover a little bit more topic when I focus on doing videos I like to stay narrowly focused on one thing so sunny help so getting into the the regulatory clarity and just to kind of finalize on that I don’t know if you guys have any comments any feedback on this at all if not I want to go into the next topic which is real-world utility we talked a little bit about the coil cinnamon video now to other parts of this Michael Jordan YouTube bus subscriber had it asked me about Babb and backs coin I never heard of it I looked it up and what what it looks like and I’m gonna pull it up here in a second and we can kind of go through their website and and try to get a better understanding of what they’re trying to accomplish and one of the things that they’re trying to do and seems to be their primary goal whether they can do it or not is achieving a banking license to open up a peer-to-peer or micro payment economy managing their own banking in the meantime utilizing their own partners so there’s two two areas I wanted to cover in the real-world utility one is as Bab and backs to really look into it see if it’s something that they’re initiative is going to bear fruit and the other thing is cred which is working with uphold so let me pull up Bab website let me convert over here there we go all right so this is Bab so it’s Bab app calm look through it they still have a waiting list we’re gonna dig in a little bit we’re gonna look at what we do we’re gonna look at what their tech is we’ll take a look at their team we’ll see how realistic it is that what they’re trying to put together will will actually happen but their primary statement here which i think is interesting we aim to be the world bank for the micro economy now now I see there’s a little bit of a delay things are catching up on the on YouTube so we aim to be the world bank for the micro economy there’s an app you can download I haven’t done that yet now here Babb is not a yet a bank but we’re applying to become one they have their mailing list let’s see what else is here okay so let’s let’s look exactly at what their anticipation is here so I believe based on what I had looked at when I was digging into their website when they talk about micro payments micro banking micro economy however they want to phrase it it really looks like it’s reaching out to those in the again in the in a smaller I don’t want to use smaller part of the economy but let’s use that terminology that’s right is that to make it as really as simple as possible you know I guess if you look at the micro economy but we’re looking at countries potentially and let’s say like in India let’s say like over in Asia really you know any anywhere in the world you’re gonna have these micro economies which is the day-to-day if you go out to the the street market and typically they’re they’re managing in fiat currency it’s too expensive for them to manage a bank account they definitely can’t have they won’t have credit at that level if they don’t have a bank account they’re not getting credit cards if they’re not getting credit cards and they can’t get credit they can’t expand their business if they can’t get credit they’re not able to put it into their own real estate maybe they can’t get apartments their housing suffers they can’t get vehicle that there’s a whole slew of things that will it really will revolve around whether or not or what someone can accomplish you know without having access to the regular economy in a country hey CA K what’s going on uh haha I’m not coming to shovel I left that I left that behind done I’ve done plenty of shoveling alright so so let’s look here everyone is a bank so this is the part I’m trying to get and really understand what they’re trying to do is is is set up a scenario where where what you know they they want to open a bank account they want to be able to have their they want to open up their own licensing to be a bank meaning you can put your money in the bank we want to connect people to the global economy that makes sense again if we look at it from the micro level you know connecting people imagine someone that sells in a market but he wants to buy product outside of his region let’s say he’s in India right now his circle of influence based on what he can purchase is really in in in a specific radius maybe even walking distance or a motorbike distance or you know based on a short distance on the bus or where his uh you know wherever he’s gonna drive to but he’s not gonna drive far to get the goods that he’s gonna be selling at the market the person he’s buying it from more than likely you know if they’re the first hand or maybe it’s already passed down a number of hands before it gets to the guy at the market but at some point somebody’s importing the product or it’s being manufactured in India now the individual in the market you know is most likely pain fiat currency for the product now if he had a bank account and he had credit he could skip that intermediary phase most likely and go directly to the source or at least get closer to the source and get potential terms on product and expand his own individual business so we’re talking about stepping stones I appreciate the concept of the micro banking the micro economy it’s interesting to me it’s interesting what’s tellers trying to achieve Stellar’s trying to do a lot of outreach into the unbanked area I don’t see anywhere on Babs website that they talk about the unbanked but I do see some of the statements that you could adhere to that but we want to connect people to the global economy they want to simplify the banking process they want to cut down on the cost and the fees of banking you can interact directly on our blog train a blockchain safe and secure when I went through their history I believe they started back maybe in 2016 so it’s been a number of years that they’ve been attempting to get licensing for banking and they’ve kind of gone through through there through the process here but let’s let’s look here and bear with me guys you know if you don’t want to go through this let me know but if you have any specific questions as we do dig into it you know ask away so I think it’s pretty easy to get you know set up a bank account I thought this is interesting too getting a bank account says simple as having a mobile phone I think is significant so if you’re in a especially congested area if you’re a place like India if you’re if you’re in an environment where it’s difficult for you to get access to a bank or even in and I think you can take it you know a step above and I believe that’s probably where they’re focusing but it’s interesting because if you can have easier methodology of moving money and again that’s you know peer-to-peer movement of money you know there’s a lot of different solutions that are available right now but if you want to transact globally maybe it’s going to be a little bit easier especially if they’re gonna manage different digital assets if they’re going to manage different transactions via currency exchange so let’s see customers will be able to spend currency online and in any country using the black card so their black card is a virtual card that’s that’s what they have now I don’t know that they’re intending it looks like they’re intending on actually having a physical card but as I was reading through their statement as for right now it looked like the card was virtual so let’s see customers would be able to spend fiat currency online in any countries in the black card the world’s first decentralized payment card linked directly to your Bab account it’s basically a debit card so I’m trying to figure out you know what they’re doing other than having an online bank account I’m trying to understand the full significance of Bab now if they’re working in digital assets like I mentioned if it’s easier it’s definitely secure what they’re trying to accomplish biometrics and again if they’re opening up to the unbanked if that’s the idea to simplify the banking process if you can open up a bank account on your cell phone just by going to an app I think that’ll definitely simplify the process so Ralph good afternoon good to see you coming in from London nice place I love going there the weather good rainy cold buddy of mine works in the London area selling high-performance vehicles right across from the park over there it’s a nice place let’s see here all right so let me let me get into I don’t want to spend a huge amount of time on this but I just thought it was really interesting you know it’s another kind of real-world use case something that’s going to be coming up to the forefront potentially and if we look through their their history in 2017 they pre AppData meeting with the Bank of England their goal really was to they’re looking to get licensing in in England or in the UK and in Lithuania but it looks like they’re going through the Bank of England Neptune welcome glad to see you come in from South End brexit you guys are definitely a lot of debate over there over how you guys are gonna get through the brexit let’s see submit application for banking license and cayman islands then the banking license in lithuania that brings us up to 2019 they still don’t have a banking license now if they have partners that they’re they’re working with you know that’ll definitely definitely work they’re looking at biometrics too for digital ID artificial intelligence for kyc utilizing blockchain technology it’s interesting that you know maybe you guys want to follow it you know and take a look and see how they develop as they move forward I think their technology could potentially be interesting I don’t know if it’s anything earth-shattering at this point but once it launches I think Mabel will know more you know but again I like the idea of being able to set up a bank account directly from your phone and not having to really register so next step would really be to check out their app and see how that goes so the next thing I wanted to go through though is cred and and cred I thought is really interesting because cred is working with uphold to develop a way to earn interest on your digital assets own your few financial future earn interest or borrow with your digital assets I don’t know if borrowing at this point is such a great idea but being able to earn interest on digital assets is extremely interesting so let me let me look here let’s say build on cred X I pull this up on my phone and then I pulled it up over here and I’m now I’m trying to find the actual this all goes through the API that’s not what I wanted exactly partner with us let me see here I had the the site that I wanted and others there’s uphold what partners are saying I want to get to so anyhow so what what’s interesting about this as they’re working with upholding and you can see cred is working with some some big partners out there some big alliances uphold is really the primary and this this came out a while back that uphold was going to begin offering who was going to going to begin offering interest earned on the digital assets that are being held on uphold so really I thought that this was a big step forward so what we’ve been waiting on though is is approval within the US market so right now on they stated 28 states are allowing the uphold cred relationship to pay out interest on the digital assets they’re being held I haven’t dug fully into it yet to get exactly to get the process down as far as how it works but you know but that that to me is extremely interesting I don’t know if you guys have any feedback on that let me just switch over here I’m gonna do a quick search while we’re while we’re talking about this I’m gonna see what I can find I’m gonna pull up uphold the the article just went live the other day let me see here you go up hold let me pull up up hold for a minute again this is interesting because if they’re paying out up to ten percent interest and it was fine I had it on my phone and they were talking about nine percent Interest ten percent Interest they’ll pay nine percent on XRP and up to ten percent on here’s here it is of access a three to ten percent return on your digital savings here it is borrowing so let me let me go back let me share my screen again here we go so this is it here this is on the uphold website so obviously we know all about this but here it is here new access a three to ten percent return on your digital currency Holdings borrowed this is all going to be through cred access low-cost credit secured by your digital currency holdings and debit cards spend your balances with physical and virtual cards a couple things you know if you’re looking to see the digital assets that you’re holding grow then I don’t recommend that you spend them I also don’t recommend that you borrow against them however moving forward as the space develops as we see some movement back in this in digital asset price valuations and you start seeing a space where you’re actually generating revenue or money or money’s earned or you know there’s two ways to where when you actually see your investment increase typically the only way you can get that money out is by selling it what uphold is offering and this is interesting is that it allows you to borrow against it so you don’t necessarily have to sell you’re not going to sell you’re holding but if your borrowed against it you definitely want to pay that off who knows what the interest is to borrow against it but it’s also a collateral so from their perspective your collateral is your digital asset they’re giving you X amount of dollars and once you pay that back you still maintain your digital asset holding which could still potentially increase in value but it’s a nice way for them to allow the to issue credit again while they’re holding a collateral so and that helps offset especially individuals where they might be struggling a little bit with credit on this is a nice way for them to issue credit and low-cost credit for what they’re saying without you know without without much issue debit cards being able to spend balances now the thing with uphold that I find interesting is that you can old fiat currency on there as well so you can have your fiat currency on uphold and it can be in multiple currencies you can then spend with a virtual card that’ll be something interesting to look into it says coming soon so let’s say if you’re traveling if you travel with American Express typically depending on which one you have they’ll waive the international exchange fees most others don’t so every time you use your credit card and typically traveling it’s so much easier to use a credit card instead of constantly exchanging fiat currencies some countries it’s interesting like in Iceland everywhere you go they’ll accept a credit card everywhere it doesn’t matter if you want to bottle water at the stand in front of some hiking area they’ll accept a credit card other places aren’t as Arnez credit card friendly but and it’s good to have fiat currency but the reliance on fiat currency has really been dwindling over over time so now it’s interesting if you want to avoid those exchange rates if you’re able to have your money and uphold and you you know and you’re able to use the your virtual card to pay that that can be really interesting let me take a look at some of the conversations here and see if there’s any input here well everything kind of went by sorry I was kind of focused on on what I was doing and let me get back to what you guys are talking about I’m gonna wrap it up here in a little bit but let me see here um you guys are talking about brexit I could give my opinions I’m brexit but I’m not gonna get into the politics of it well I heard you guys are talking about it uphold I think you can borrow up to two hundred thousand that would be interesting if that I’m gonna have again I’ll have to dig into it right now it says coming soon so the borrow part isn’t available yet I guess if I went down you know they might they might mention it a little bit more what I and it’s interesting you know the difference you know with the earning nine percent three percent right now would be huge right so if insured exactly Carl if if all polled is insuring your your your investment there so basically if you’re putting your money in there they’re taking your money are you now your money with your digital asset they’re utilizing your digital asset for something else or they’re bolstering their their liquidity overall and that’s why they’re gonna pay you or return on it so I want to know more about that if it’s similar to like within the bank it seems like it’s similar to in a bank scenario but they’re paying three to ten percent return so that that’s huge three percent five percent I mean right now the average on on stock returns or on mutual fund returns you know a lot of people are lucky to get eight percent if you manage it right you can get twenty thirty percent returns in mutual funds if you’re if you’re monitoring it but not always in bank accounts you’re lucky to get a half a percent or a percent so three to ten percent return on stocks if you trade in stocks you know you can average out your stock holdings what around eight percent so getting a three to ten percent return on your digital your digital asset Holdings if like Carl said they’re insured right now they’re just sitting there if they’re sitting on a ledger then they’re not really collecting any money but again if you can loan them out or you can put them on uphold and and they’ll insure it so if something happens you know you’re getting your digital assets back I think that’s a big part of it I don’t know I would put I don’t know that I would put my digital assets in the space again per Carl if if they’re not insured that’s something to look into this week positive outcome Oh global reserve digital currency that’ll be interesting at the IMF Ralph is bringing that up that’s interesting let’s see here uh received an email about their insurance policy which I thought was a little sketchy essentially this is Ralph talking about the uphold insurance policy you guys are probably reading it a small shared payout after all assets of theirs are liquidated if a hack ever say yeah that’s definitely concerning so that would be a reason not to put it there but if you’re not risk-averse you know or you know you look at your own your risk tolerance levels if you think it’s worthwhile that they’re probably not going to be hacked and uphold has got you know some fairly decent security but that’s not a guarantee as we as we’ve all seen so it really has to go to your risk level yeah I I do yeah that that’s one seven nine Kevin brought that up you know he uses uphold B’s afraid to open up their emails yeah I don’t I don’t like open up any emails or responding to emails like that either you know so it’ll be interesting anyways and I agree you know cak nano for now I agree with that as well and it’ll be interesting to see you know how this develops with with uphold let’s see huh yeah that’s it’s a really good point one seven nine Kevin my dad told me when I was a young man if you don’t hold your money you don’t have it and that’s uh that’s it’s a good point you know and it really you know you don’t hold it or you know you you don’t know that it’s secure and I think that that’s a really good point good advice as well and so in this case if you’re handing your money over to all polled and you have no idea what’s going to happen so let we’ll see how this all develops and that’s the other part exactly Carl you know if your what’s the term of commitment you know so if it’s if it’s like a bond and you’re stuck in it for a period of time maybe it’s a six-month term and you can’t get out of it you know and so let’s say your digital assets do increase exponentially and you want to get out and you can’t because now you’re stuck so that that’s interesting too if there’s a whole term and that that’s more information that we got to dig into but I think what what we’re seeing though and I’m gonna have to wrap up here in a minute what we’re seeing is there were a trend in the digital asset space and we talked about this on the on the last live stream whether banks are going to be getting into the digital asset space themselves or through acquisition or are the digital asset exchanges going to begin entering into the banking space whether themselves or through acquisition so here’s two companies that we just looked at Bab which is looking to get into banking by issuing and getting their own banking license they’re not not they’re acquisition but through registration so that could be a long shot and then we see uphold through cred getting into a predominantly banking space and so uphold being able to you know have people invest their digital assets so they can earn interest like a bank they can borrow like a bank low-cost credit in this case the collateral would be against their digital assets so similar not exactly but and then having debit cards so and plus they have the exchange plus you can already hold your fiat currency in the up hold space so it’s interesting right now we have we have a little bit of an overlap between and there’s gonna be a little bit more competition and I think again I I said this last time competition is healthy it’s definitely healthy for the bank’s because this type of online competition has occurred in many of the other industries in many of the other spaces and the banks have pretty much no way relatively scot-free we saw prosper pop up with peer-to-peer lending they’re one of the first which is interesting it definitely developed over the years it’s definitely a great solution it’s a nice place to invest and you can get you know decent returns four five six seven percent and so I’ve enjoyed investing on prosper over the years but and it’s a great way for people to borrow money and so but that didn’t really end loans are borrowing from the banks this is really with the digital asset space and what we’re seeing with companies like uphold and cred they’re right on the forefront of giving a competition at the banking level and we’re gonna see Gemini we’re gonna see coinbase we’re gonna see by Nance I want to see some of the large exchanges start moving into that space we already see from a custodian perspective and when digital assets go mainstream when we start seeing the tokenization of stocks and bonds like there are what as they just allowed in Thailand we start seeing that here in the US then we’re gonna start seeing a lot of the lines blurred and then you know we’re also gonna see and we’re really gonna say you know let the call our cards forward with you know a land where they fall or fall where they land whatever whatever that saying is but you know that’s that’s really where we’re gonna begin to see where the competition leads to and is it the banks coming on top is that the exchange is coming on top is there going to be a blending is there going to be a coexistence but I again I do see a lot of the lines are gonna blur a lot of the lines are going to cross and if we have an uphold I’m not saying uphold is the one but let’s say uphold is the Amazon of the space and we saw what Amazon did to retail is an uphold a buy Nance a Gemini a coin base are they going to be the Amazon of the banking space and put the fixed brick-and-mortar banks on notice it’s not going to happen today is not going to tomorrow it’s going to take a couple years at Lee is that really gonna happen and I think that’s that’s the big question right now because initially everybody or initially the thought process was oh well bitcoin is going to replace banks and it’s all about the Bitcoin and a digital asset but really it’s more than that because there’s more than just moving money between peer-to-peer there’s the process involved and we’re seeing that as all of this unfolds like with the uphold so Karl totally appreciate that Farhad glad to see you here what let me go back and I’m gonna have to wrap up here in a minute I’ve got a conference call at 9 o’clock I have to get on but let’s see what is the purpose of the JPM coin that’s an awesome question you know yeah what is the purpose of the JPM coin it’s it’s and I talked about this before on a video but the JPM coin really more of a interbank solution and it’s really JP Morgan’s way of trying to stay relevant trying to sit sits there me to moment where they say hey look we have our digital asset as well look at us we can do the same thing as everybody else as much as they spoke out against or at least Jamie Dimon spoke out against digital assets and and Bitcoin and and everything and so I believe that’s what it boils down to I also do believe you know based on what we’re seeing with JPM that we’re going to begin let me switch this back we don’t need to be on the screen what I do see is that you know we’re going to see Bank of America have their own token we’re gonna see Bank of England have their own token we’re gonna see well son Trust is gone now I don’t know there whatever bank you want to think of Comerica Bank Fifth Third Bank or you know whatever Bank is out there the big larom trying to think of the large banks they’ll eventually all have their own digital asset their own internal coin just because they’re they’re gonna have their me – moment also and want to compete now the question really then boils down to whether or not or how they’re going to be able to transact between banks now CAK brings up a good point JPM to manipulate and and it’s interesting too because as as they oh shoot this is getting ready for the hang on one second I’ll call you back I’m gonna have to wrap this up getting down to the to the wire here but yeah so I think you know it’s interesting at just one last point CAK brought up that JPM to manipulate and potentially are they trying to manipulate the the space are they trying to manipulate the market i again you know in my opinion i think it’s their me to moment but at the same time they’re you know they’re calling it a stable coin they also made a statement that it’s redeemable for US dollars but it’s not backed by US dollars meaning that they’re not holding one US dollar for every one JPM issued but they also did state that of the JPM coins every time they’re used they’re gonna burn them and they’re going to create more so the whole thing is really just a matter of easily or trying to find a seamless mechanism in between their own branches to move money but i think it’s more of a marketing ploy at the end of the day because they’re already moving money between their branches you know i don’t know you know it’s it’s again just I guess bottom line there me too moment and it’s a marketing it’s a marketing ploy to just show that they’re relevant I guess that’s the bottom line so and and Carl said you know brick-and-mortar is done I think brick-and-mortar is gonna go away you know eventually especially if you look at what Bab is doing I’m not saying they’re the solution you look at what all boats doing coinbase all the others easily creating banking via an app banking online how many people go into a bank branch anymore very few you really don’t need the bank branch you don’t really need the bank that you don’t need the investor in the bank branch if you can do your own research so a lot of that just like what Amazon did to retail it’s going to happen in other spaces as well so then I truly appreciate you guys getting up early or those on across the across the sea over in England in the UK and elsewhere are joining on today I do got to wrap up from this episode of morning crypto again this is Jeff with the hata report if you guys have any feedback question should me a tweet if you like the format of the live stream let me know if you think you would like to see it a little bit different I’m trying to grow into the live stream a little bit more give me some feedback again on Twitter you can throw some comments up here I have some other videos planned I’m gonna try to do another live stream this Wednesday but it looks like I was conflicting with with Brad I don’t know how to pronounce his last name kind skin is but it looks like I’m coming up against his spot at 8 o’clock and so I want to create it you know make sure we can interact with with the community so I’m going to take a look at that but anyhow appreciate you guys for coming on and I look forward to seeing you on the next video until until that time keep on addling your crypto

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