Ripple XRP – Live Coinbase – Lets talk about XRP role in world economics


works all right we should be streaming check what’s going on here yet all right getting ready to go live there we go here I mean online oh I think we’re live looks good cream looks good you should be solid we give it a few minutes it took me a minute to get everything booted up the computer was slow and I was stuck outside trying to get in the house so today we’re gonna talk a little bit about XRP and really the role in in the world’s economic growth development in the direction of digital assets so to give it a minute see if we can get anybody to join in if not then we’re going to kick it off and and start going through through the video give it a minute here I got a few things I got to pull up yet let’s see right make sure I got everything on my notes here things I wanted to talk about today let’s see what we got here we go all right well I’m gonna start it is eight o’clock so I want to make sure that we keep moving forward with this today so you know it’s really interesting and if you had a chance to see the there was a race this past this past week and it’s really interesting because the runner of the race lost his shoe right in the beginning of the race and so the first question that you ask is you know how do you lose a running shoe when you first start winning the race the thing is is that this guy you know obviously he could have he could have stopped he could have gone back to pick up his shoe but he didn’t he the guy it’s an unbelievable story the guy went on to win the race one shoe he ran a 3,000 meter race it was an indoor track when he lost the shoe as he’s coming around the final lap he actually felt as though his skin was peeling off the bottom of his foot and if you look at the indoor track whether indoor/outdoor doesn’t really matter running out at barefoot isn’t going to be comfortable so if you can really imagine that then the following day he goes on to win a 5000 meter race so not enough that he won the 3000 meter race once you one shoe off but the skin on his toes peeling a hoof said it that last final lap trying to block out the pain was unbelievable of and and here’s a guy you know he said he was in them lose that motivation you didn’t want to lose that feeling you know and so it’s unreal really if you think about it and if you really think about the lesson that you can learn from somebody like that I mean you know so he see the he’s in in Harvard running this race one shoe off and you know he was again he’s in the moment and and I think about all the things that you go through in life you know here’s an individual he could have so easily have quit he could have said you know what my shoe fell off I gotta stop the race I gotta try to go back and get the shoe you know I guess you could you know there’s so many different excuses that somebody could come up with and it’s just like again just like everything else that you face in life all the different obstacles and I try to look at it you know from the perspective that even if you’re thinking about like a from a business perspective you look at what ripple has been up against you know you look against really they’ve been unfazed and and all of the obstacles that have been put in front of ripple the company although the lack of regulatory clarity and it really transcends and goes beyond just ripple because just in the digital asset space in general but ripple they’re up against again regular lack of regulatory clarity by the US government they’re taking on the Goliath Swift and at this point no ripple is truly pleased by any of the Fudd that’s being thrown at them unfazed by the fact that they’re taking on this mega you know this mega organization that has really held a monopoly on cross-border payments for you know for the past forty plus years you know so that that is really you know amazing you know if you think about it if you think about what the the top brass the executive group over there a triple if you look at what Brad is up against and coming out and and even having that number of weeks back when he had sit down meeting with the head of swift with the president of swift and so again it’s so amazing because here you have an organization that’s truly in the moment yo that is truly focused on being the best and and be and and knowing that you’re in the moment knowing that you have all the right technology knowing that you might not have all the answers but you’re focused because you know you can compete just like this this runner running without a shoe on a track right from the beginning of the race he knew that he was prepared he knew that he has the skillset to win the race but now he’s got an obstacle to overcome which is not having a shoe han and as he’s going through this this race he gets bloodied and the skins tearing back off his foot and again he could have easily quit you know just as though you know ripple could easily you know submit and give into all the fun that’s out there and and the Fudd has been you know deep you know for for quite a while you know it could listen to a Jamie Dimon that you know talks negatively about Bitcoin and ripple could easily say look we’re also in the in the you know digital asset space because we’re building our entire platform off of blockchain you know they could have easily run away and said hey you know what we have so much competition out there yeah we’re just not going to keep we’re not going to do it but yet they keep moving forward so for us you know that’s such an amazing lesson you know to take away from all of that a Kevin how you doing good morning glad you guys are able to join on an early morning day if you’re on the East Coast if you’re tuning in from the the Midwest or the west coast here if you’re overseas obviously it’s a little bit later in the day but I truly appreciate everybody jumping on with me on Saturday morning if you don’t know this is Jeff with the jato report and this is morning crypto with the jato report so I have a lot of great things that I want to talk about today hey Karl how you doing good morning glad you guys are joining in Oh if you guys had a chance last night I think it was probably one of the best conversations that I’ve seen on a YouTube video or a livestream yesterday between jungle and sam-i-am or man and I really it was they definitely got into a lot of great topics I was a really nice back-and-forth if you guys had an opportunity to see that I thought it was outstanding I just wanted to put up putting a little plug in on that so anyhow what I want to really focus in on today is you saw that yeah that was uh and and there’s you know what’s amazing you know there’s so many great you know videos out there and there’s a lot of great people coming to the space whether it’s and I watch all the chats that go on during a lot of the live streams or if you see a lot of the comments and feedback on all the different videos there’s so many outstanding people in this space so many smart people in this space the and you know it’s it’s really good to be I’m happy to be part of it you know it’s it’s just amazing a same thing on Twitter you know hey Charles morning Rajesh morning glad you guys are tuning in hey I want to I want to get into and really have a little bit of a conversation about these role is going to be in the economic development of the digital asset space and when we look at economic development we’re talking about it from a global perspective and it does seem that you know more and more is is happening and it and it’s happening at such a fast pace right now it’s hard to keep track it’s hard to keep up with it and we saw what happened with coinbase oh yeah love for crypto yeah you know what I used to watch love for crypto all the time all of a sudden you know now he’s out there and he’s uh and and it’s it’s amazing you know he’s got a lot of great info so the others there’s a lot of a lot of great youtubers out there you know lot there’s just so much great information you know and and really you know people could say hey I don’t have enough information when we say go and do your own research you know that it’s important to do your own research before you take money out of your pocket and invest but there’s so many individuals out there that are digging in and doing research and providing you know there’s a lot that you can weigh out there and then you can take you know and say hey these people have done a little bit of research they’ve got an opinion let me balance that out with what I see what with what I think and then everyone being able to engage on this topic it’s really helped I think overall you know when we look at the direction that digital assets are moving in if we look at just just from the perspective of what Ripple’s doing I’m just from the perspective of what’s being attempted right now in in Washington with regulatory clarity and in regards to the token taxonomy Act what was happening over in Wyoming what’s happening you know all around the world a lot of that has to do with the fact that there’s so many intelligent people out there that have been digging in that have been providing it for me gasps roots you know so that is definitely important now when we focus in and we and we look at what’s happening for XRP at the exchange level we saw was that a month two months ago when finance added the trading pair with XRP to Fiat that was an important step for the longest time everybody’s been waiting for a coin base to make a move coin base finally goes live with X rpm coin based Pro this past week and we talked a bit about that before but what I didn’t anticipate and I truly thought that we’d be waiting a few weeks minimum before XRP hit the retail coin base or hit the the app the coin base app and all of a sudden the next day it’s going live at the same time and I talked about this on the on the stream before and it was brought up last night in the conversation as well at the exact same time when coinbase decided to go live even if it was just on coin based Pro Nasdaq was launching the price indices for Bitcoin and aetherium and so we’re starting to see the mainstream adoption the preparation for mainstream adoption the fact that coinbase Pro also and coin base is also getting into a custodial account the fact that coin base can transact in and out large sums even from an individual level as long as you go through the different stages you can you your the daily limit of movement is actually pretty high and I believe it’s higher than any of the others out there so you have to believe from an institutional level the amount of money that you can transact in or transact out is significant and coin base is a very important part of the mainstream adoption it is the largest and regardless of what people are are stating and this is something that I wanted to talk a little bit about also because it’s important in terms of a recent acquisition by coinbase well let me let me take a look I think there’s some decent comments coming through here it is that’s a karo is that’s a good question is coinbase insured I’m not sure that they’re providing any form of FDIC insurance coverage yet you know so that would be that would be interesting you know and I know that and as I’ve dug in and I’ve been putting a video together just been really you know tied up this past week with work but I’ve I’ve been digging into a couple different lengths that are providing and it’s interesting and so we’ll get into it on the video that I make I don’t I don’t want to really dig in too much today we talked a little bit about some of that on the last video stream but it’s interesting when you start seeing and you start looking at organizations that are going to give you the ability to borrow against digital assets and really finding a solution for creating that liquidity but it also becomes very important from institutional perspective as they’re moving of these large sums of large sums of digital asset so the stage is being set right now they say they are do you know if they’re fully covered FDIC so from my retail sorry I’m looking over I’ve got my YouTube but chat over on on the other screen you know what actually as we’re as we’re doing this I’m gonna switch the view here let me transition that there you go if you guys haven’t been the the image behind me that’s dusseldorf it’s on the the Rhine it’s a really man that area is great that’s not too far from this beer hall called dot you’re gay if you guys get a chance to go over there so a great place so let me look here let’s see they’re not providing interest at this point no but insurance so I’m wondering not fdic but private insurer so that that’s interesting okay so I’m wondering what kind of cup do you know what kind of coverage they have I haven’t I haven’t really looked into what coinbase is offering from that perspective but I can say that I you know I did as soon as they went live I was going to use the coinbase Pro and then the next day it went live on the app and so I actually went onto the app and and I bought some XRP with the app to see how to see how it is next so actually Bank next so that’s one of the the companies that I’m going to be covering on my next video that I’m working on there are a number of different in organizations that provide lending and that was one of them and that’s probably one of the best ones actually was next so from what I’ve found that one is definitely they’ve got all their act together from from every perspective yeah so from a coin base and I believe that coin base will end up adopting FDIC backed insurance they’re going to have to especially when it comes down to mainstream adoption there’s a certain level especially those of us which is you know the majority of us here I would assume if not all of us have gotten into digital assets at an extremely early stage meaning that we’re not risk adverse and understanding the speculative nature of the investment in digital assets up to this point prior to mainstream adoption meaning that you’re taking 100% of the responsibility for your investment which comes down to are you managing your own keys you know are you putting it on a ledger or are you keeping it on an exchange and kind of rolling the dice a little bit depending on the exchange that it’s on however as we’re moving forward and we’re beginning to see more and more mainstream adoption or as they’re setting the stage for mainstream adoption having the platform whether it’s a coin based platform or whether it’s an uphold platform or whatever it might be it’s going to be very important that anything that you hold on that exchange is then covered by some form of insurance and preferably backed by FDIC if it’s in the US and as a matter of fact and this is something actually I put aside and I think I believe that it I think it was a couple days ago it was definitely in the past week there was an organization 35 countries met and they discussed specifically really holding the exchanges to the same standard as the banks from a registration perspective and everything else that goes along with it and so one of those requirements I have to believe would then also then be making sure that the exchanges are insuring the investment now let’s see here let’s see Andrew I heard Forbes calling XRP a scam that’s nice of Forbes that it’s like stock that they can pump in and dump yeah so you know there’s definitely a lot of that that’s coming out and that’s that’s part of the fun you know so I think that’s that’s a that’s a good point you know and that’s something that when we look at Forbes you know is Forbes really playing on a level playing field you know are they providing us all the correct information or do they have an agenda you know is their agenda to spread Fudd you know what what are they into you know what what is their financing you know who are they really appealing to and so I think we have to look a little bit more into that I think someone had posted it on Twitter looking at the history of Forbes and the in accuracy of the reporting over a period of time as they’re spreading their own foot in FOMO so that’s something I think would actually would be well-served doing a further investigation really into the type of economic news that has been on on Forbes or the others and are they always really holding true to every article that they that they publish Carl says if the government classifies crypto and wants taxes they’ll be forced to also implement exactly so I I believe that as well and and and as and that’s one component of everything that’s being worked on so if we go back if we look at the token taxonomy Act and I think Carl is right on point you know because as the as the government really begins to look at regulatory clarity and if you look at the changes that the token taxonomy Act is addressing to really provide a mainstream approach or really facilitating mainstream adoption I should say and as you get into that regulatory clarity as we’re starting to see exchanges like coinbase open open up to mainstream adoption as we see what Nasdaq doing as you see what fidelity is doing as you see what all of the large financial institutions are beginning to do as they adopt or adapt to the changing climate in in the economy because the as they’re adapting to what that what that means especially within the changing climate the changing climate is the development of the digital assets face and so the financial institutions need to prepare themselves and there’s an it’s not like an individual investor that can just you know turn the key and say hey I’m investing in digital assets from a financial institution perspective they’re still beholden to their boards they’re beholden to their investors so they have to make sure they’re doing their due diligence now before they put any money anywhere you know and so they have to provide the right return and at the end of the day they have to make sure that they’re protecting their clients money and investments and so all of this all of this is starting to really click it all really makes sense and we’re beginning to see the development in this space and we’re beginning to see that regulatory clarity starting to click and now in the u.s. I think we’re up against a little bit more of a hurdle especially with with the latest news now before before we move on and get more in-depth onto that side what I wanted to ask you guys also would be so so here we have coin base and and we see that there they’re just adding XRP we see that they’re getting ready for for mainstream adoption with everything else that they’re doing now you have an organism you have a group that is promoting or a movement that’s promoting hashtag delete coinbase and the reason why they’re promoting this hashtag delete coin base is because coin base had a head acquired about a week or two ago acquired an organization called neutrino and so this organization neutrino that was acquired was actually over the the Executive Board of neutrino at one point and I talked about this on a previous video but at one point but this keeps rehashing so this this hashtag delete coinbase is a brand new movement and their claim is that they don’t want to utilize an exchange that just acquired a software that really it’s it’s one of the best software’s that’s out there right now from a security perspective as they’re trying to prevent hacking or if they’re trying to really identify which parties might be using or abusing the the the platform so and this goes back a little ways so one of the things that I was talking about was how a research organization out of Israel had discovered that the terrorist organization was actually using coin based wallets to move funding and move and to raise donations in the US and other parts of the world and so obviously one of the primary concerns of the government is that these exchanges don’t use and aren’t used for to facilitate terrorist fundraising activity or terrorist state entities raising funding or circumventing financial embargoes or what it might you know what have you so it’s very important that coin base kind of gets on on the ball and actually does the right thing now this hashtag delete coinbase all has to do with the fact that the executive team of neutrino and I’m gonna get to the I’m gonna get to the the comments in a minute but the executive team of neutrino who used to be part of a group called team hack or hacking team or whatever it might be and the claim is that they sold software to specific states like Saudi Arabia that used it to go after the freedom of media and they use this software for other purpose now the question that I have for all you guys and really get some feedback on this you know is you know should this team hack be held accountable or should nutrino be held accountable or to a different standard because their executive team used to be part of another software organization that helped hack into different state entities now you can make the claim then in this case that if coinbase needs to acquire a software and they go after the best software and this is they’ve decided to acquire a neutrino for this purpose again it would be like holding and building an argument that Microsoft Apple and Google should also be held accountable because their platforms are being used in these different states pretty much everywhere in the world so how are you gonna hold them accountable for what you know their where their platform might end up now the question then the open question is did this hack team produce software specifically for human rights of using States in order for them to take advantage of their population you know so I think that that’s a lingering question and I think it’s important to address you know because you have this movement and I don’t know how large the movement is and it’s probably not really gaining you know too much they’re not really gaining legs but you know the delete coin based campaign you know so just just something to think about actually there was let me see here I had one statement let’s see this was on motherboard motherboy hang on a second there was just one fine there’s a statement cut wrap-up statement hang on a second I thought this was interesting let’s see oh so so here’s at the end of this article there’s a booming industry dedicated to providing governmental agencies with tools to hack and spy on computers and cell phones right now this industry is very lightly regulated which has opened the door to the proliferation of this kind of software and parts of the world where government’s routinely target rights activists and dissidents the founders of neutrino however are not part of that industry anymore some people saw such as bailed it and polio t’ olio i can’t pronounce his name i think we shouldn’t forget their past but for coinbase what matters is the technology they developed since leaving the spyware industry so I think this is this is really important you know this is again you had the founders of neutrino they had a past their past used to be in spyware they don’t do that anymore they developed another software and that other software is relevant to the industry now they’re not hackers or they’re not they’re new software for neutrino isn’t based on hacking isn’t based on spying but is needed by an organization like coinbase I think that’s important you guys can see this article it’s on on motherboard comm I just thought that that was that was interesting so let me go let me go to some of the feedback here you guys have had a ton of feedback as I started talking about that Forbes name ripple to the top 50 techs of 2019 exactly that’s Bubba I saw that too you know so so you you have all sides of it now the question it comes down to also the reporters it comes down to whether or not it’s an opinion piece is it an editorial you know who’s actually writing the article is the foot articles and are they you know trying to you know show both sides so ripple for sure was definitely listed in the in the top 50 tech companies for 2019 by Forbes you know so we’re seeing a little bit of that back and forth let me see here I’m gonna go back through let’s see buying extra P is like buying some Venezuela fiat currency Andrew Davis do you think that’s that’s true you know Venezuela fiat currency I mean that that’s a interesting statement so you know really you know you can really look at digital assets in general as being you know speculative obviously the by 4x RP is speculative the use case of X RP is phenomenal you know if you look at what’s going on with the technology in general when you get into blockchain technology I mean you know blockchain is definitely a revolutionary technology but when you look at they use cases for particular digital assets they each they’re you know they each have a particular use those that are in the top space so if you look at like a theorem if you look at a Bitcoin if you look at X R P there’s definitely a use case for X R P and the the core principle of the XR p digital asset was for the ease of the payment space and really speeding up the payment transaction lowering the cost of the payment transaction there there’s I mean you can get into a whole conversation more in-depth on the purpose of the XR p token but again you know that’s the particular use case then you have the XR p ledger then you have the ILP if you see what ripple net software solution is doing for the the global cross-border payments space when it comes to banks but when it comes to financial institutions they’re the the ripple net solution is a complete solution the X rapid component of it which will and does utilize XR p and there are those organizations that are already using x rapid that did bring it online and as we get more regulatory clarity in the space we’re going to see banks activating X rapid which directly uses X R P then we also see Corte through R 3 which added X R P is the primary digital asset now what we’re also seen is as we begin to make this transition into the mainstream adoption digital assets xrp is the one that becomes more relevant and more important in the space just as Bitcoin is also relevant and important in the space especially as it’s being looked at more in terms of a store of value but not so much as a solution for micro payments then you can also make the case that xlm also has a place and and has some relevancy and as you begin to see the amounts of money and in the direction that these exchanges are moving in if you’re B if you begin to see the financial institutions there’s millions upon millions of dollars being pumped into this space because they’ve identified the important nature of digital assets as it as it as it is relevant to our overall economy and our global economy and so part of the global economy is the movement of money and so if you need to move money from point A to point B there has to be a easier solution a cheaper solution a faster solution and that is whether it’s on a macro level whether it’s on a micro level you have to be able to do that you have to be able to facilitate and support on those individuals who are unbanked in the world and give them a chance also to become part of the economy and so there’s a lot of different variable variables to this at the same time all of this is still relatively speculative so I think we all have to keep a very you know you know open thought you know process on this because of the fact that the investments are still relatively speculated of now when you look at a speculative investment we also want to make sure that we’re looking at it from a perspective that what we’re investing in has utility it’s like look investing in a Microsoft in the early days it’s like investing in an Amazon in the early days and we can learn a lot from you know what Microsoft was up against when they talked about the personal computer and they were moving away from the concept of a mainframe and you know the fund and and really the what people thought in terms of nobody would ever have a personal computer in their house looking over here looks like there’s a little bit of a little bit of lag pixelation knob but anyway let me let me look here Financial Inclusion will be XRP will definitely be a component of this financial inclusion and again you know whether it’s whether it’s a noticeable inclusion or if it’s you know a behind-the-scenes inclusion so if the banks are beginning to use XRP even if it’s through you know the x-ray it through ripple net we might not understand it or it might not be visible to us that XRP is being used digital assets in general we’re not going to necessarily have visibility to all of the transactions that are taking place behind the scenes but all of that and that’s the direction things are moving into now as Carl is mentioning you know XRP utility is massive and I believe that that right now and the reason why I like XRP and I speculated on it now put money and it is because I see exactly what ripple is doing with the ripple nets solution and I see that the full solution it’s not just it’s not just the X currents not just the messaging component it’s the full solution and that’s just one aspect of it and so now as we as we look and we see what else is happening in the space when it comes to like an organization like coil from a micro payment that everything is just growing right now it’s still in its infancy and so we’re beginning to see where the utility is now if you go back to that video from Jeff Bezos on on a I forget exactly when it was when it was filmed but it was in the early years but one of the things he said was he doesn’t know looking forward if Amazon is going to be the one that’s gonna lead the charge just as though we didn’t know in the 80s who was gonna come out on top from software hardware was it Microsoft was it one of many of the others and Microsoft was the one that came out of top he didn’t know if Amazon was going to come but from but as a visionary as a business owner his focus and his Drive and his passion was on his consumers he wanted to provide the best solution for his consumers he wanted to provide the fastest transition of product from warehouse to consumer he wanted to do it at the cheapest price this guy had a vision and everybody attacked him for that vision now guess where he is you know he’s definitely a lot further ahead than everybody else that attacked him same as what we see coming out of ripple they have a vision they’re trying to overcome the hurdle that is Swift that right now Swift controls over 10,000 customers not 10,000 individual bank 10,000 customers that within themselves have who knows how many banks but that’s that’s what he’s up against this Goliath or they are up against this Goliath out of ripple and they’ve developed a solution and they keep plugging away plugging away plugging away right now there’s really nobody else in the space that has the complete solution that ripple is offering they’re doing something completely different what is their vision just like Jeff Bezos their vision is to provide a simplified solution that will speed up the process and do it a lot cheaper and so that’s that’s the ripple vision and when I saw that and this goes back over over a year-and-a-half ago when I saw and as I was doing my own research and I saw what that organization was doing and what it meant and I understood the nature of how long it took and how costly it was to move money via Swift and it being that it was really only a messaging solution and I saw you know the drawback of using that solution as I as we had deals prolonged over the course of weeks because we’re waiting for money to clear and I saw that the downfall of the Swift process as as there were errors within you know within the the transaction we had no visibility there was no transparency to where the money was I saw all the flaws in that in the nature of it so when and so that was my experience firsthand and so when I I’m starting to get into digital assets and I see what’s happening with ripple I say you know what this is an organization like a Microsoft like in Amazon there’s no you can’t forecast out and say hey they’re definitely gonna do it but you could see just based on the structure of what they were what they were working on it and how they were doing it you could say hey you know what this company out of everybody else out there has a better potential and has a better much higher percentage chance of success then you look into their full solution that includes the digital asset XRP the fact that they do have XRP and escrow they have a vested interest to also make sure that their ex rapid solution comes online now without the ex rapid solution really they’re only providing a direct competitor product competitive product – what Swift is which is a messaging service now is ex current better it is it’s better than Swift for sure but the true benefit of ripple net and this really gets back to you know some of the flood statements when it comes to XRP not being of quality or it’s just there for pump and jump a pump and dump the XRP is significant to the overall solution that is ripple and that is ripple net that is incorporated as a very important component of ex rapid now you could then take away from that and then you see all of the other organizations that are developing as a result of unutilized XRP because of the true nature and importance of it now at the same time do you really think that r3 would have gone through a lawsuit with ripple over the release of of XRP if they didn’t think that XRP was an important was an important digital asset in the space or important for the completion of their solution it wasn’t you know by happenstance that r3 decided to at xrp as the first digital asset to be utilized as a solution by kurta you know so they wouldn’t have gone through all of that and fought that fight you know if they didn’t see X R P as being valuable so you don’t have to look too far and now we also see you know the importance of what coinbase is doing from a mainstream adoption perspective so it all kind of comes together let me look you guys are throwing up some some good comments here so um let me look here let me go back up a little sorry I’m kind of missing out on it let’s see that is Mario is a great question and honestly I don’t know the answer to that what is the biggest cybersecurity threat to the XRP network right now it seems and then what type of bugs vulnerabilities have they found that’s a great question that’s that’s something to really dig into maybe I’m getting a little pixelation here let me look at my not sure if you guys are getting any delay here let me look there signal looks strong so all right let’s see let me go down if someone has an answer to that I would definitely like to look into that more but you know is there a potential cyber security threat I think just as there is with all digital assets they haven’t been able you know there’s the was the the 51 attack whatever that has like ETH and some of the others have been vulnerable to really moron on the exchanges sides but I don’t I don’t know and I believe that one of the statements is that XRP is also one of the the safer especially when you look at the XRP ledger it’s one of the more it’s really the safest up platform let me see here the biggest asset of XRP is the trustless aspect on-demand liquidity companies don’t have to trust companies to pay this yep country yep so I agree with that Carl that’s that’s a great statement uh-huh Gavin says he wants the number one spot so when big investors come in to buy they can pick the greatest digital asset ever created you know it and so there’s some some relevance to that but then also when we look at you know everyone so ultra focused on on coin market cap and in looking at the position in place of the digital asset in that space and really if you look at the valuation or how they’re calculating valuation it’s just a simple you know calculation is just available multiplied by price all it tells you and it just all it does is just rank it it doesn’t it does and factor in utility you know and so someone else had a and I should have pulled that up I made some notes to get into that a little more reading about really determining the value of a digital asset based on the full potential the full utility potential of that digital asset and so really that’s when we look at XR P and the full potential of full utility a potential of XR p that makes it more exciting than more than than many of the others you know so we know that the full utility of Bitcoin really isn’t there we know that Bitcoin really the true benefit in today’s day and age right now not when it started but now based on on the cost of movement based on how slow it is to still move a Bitcoin that it’s not really designed at this point to overcome the hurdle of being a payment a day to day payment solution provider and so whereas XR P is fast it does transition very quickly between wallets it is a solution that can be built in to a coil or an X R P tip bot to move to move payments very very rapidly and and to very little expense mr. B hey glad you had you joined in glad to see you glad to have you part of the conversation we’ve really been digging in here a long long crusade to XR P now there was something else here I wanted to pull up and I kind of lost it here sorry I’ve got all my note I’ve got the other YouTube on my laptop here so I can just monitor the chat as it goes through his XRP Gavin’s a really going to be the bridge for all the world digital assets or all other digital assets in the world is it I don’t know if we know for a fact but we can say that based on the technology based on based on what we’re presented with any facts we could say that XR p out of any other digital asset right now has the best chance to be coming that the bridge for all digital assets now especially if you look at the fact that if we look at the fact that JP Morgan has the JPM coin we know that Bank of America will soon probably have the BOA coin we can probably think that Bank of England B it will have the BOE coin and the list goes on and on and on now they’ve all really recognized at this point that blockchain technology is relevant and is important within the banking industry but it’s it’s important from a cross-border payment perspective it’s also relevant and very important at the individual bank level so whereas JP Morgan really identified internally that blockchain and is important but the fact that they’ve identified that that it’s important to have a digital asset again we talked about this before as they’re me to moment we’re relevant where current we’re modern we have the JP JP M coin as well but at the same time it helps for all of their internal transactions and and creates a more seamless environment internally now the bridge is that JP m is not going to be accepted by boa boa by Bank of America and so if we need to move that JP m over to a boa coin really the only really the best solution is going to be to use the the X or B ledger or you know utilizing X R P as the bridge as the transitional digital asset between those those two entities because JP m is not gonna want boa and really if they do now all of a sudden we’re back in the exact same spot that we’re in right now using nostro and Vostro account so Bank of America is gonna say well I’ve got my BOA currency token and JP M’s got their JP M so what difference is it if you know or Bank of England is using the pound and JP m is basing theirs off the US dollar all they’re doing is just interchange you want for the other they’re still going to you need an account over in England let’s say if they’re doing a transaction over there so they send their JP m coins over and now they’re going to convert them over into BOE coins instead of pay so make in between that’s going to easily and quickly convert between so the banks can then easily and seamlessly communicate with each other it only makes sense so let’s see here did it let’s see laya Lamar Spencer he said there’s a new digital vault Bank coming out where your crypto will be insured by Lords of London I think that that’s interesting if that’s a case on that that’s definitely a big step and that’s what we were talking about earlier on the fact that as we start seeing these exchanges more and more of the exchanges becoming mainstream in order to secure full mainstream adoption in the space we definitely need to see these exchanges backed by insurance for mainstream and so this goes back to the original premise of what we’re talking about that as early investors in the space we understood the speculative nature we understood the risk of investing in the space whereas the majority on the mainstream side and even even us you know as we want to leave a digital asset let’s say on a coin base I would feel a lot more confident if I knew that the coin base wallet was even though we know it gets secured but are we a hundred percent but I would feel a lot more comfortable knowing that it’s FDIC insured backed same thing over there if there’s gonna be a new digital Bank of in in England let’s say that’s insured by Lords of London that’s a big step in the direction of mainstream adoption and it really from their perspective as well if we look at what’s happening again in the lending space and the important of the lending space they’re going to want to utilize the liquidity that they’re being provided with of those digital assets that are held in that space potentially then also providing interest and and all of the other variables that can go along with it at a banking level so all of that is in transition we start we’re starting to see Mike read and uphold beginning to move into that into that arena right now that that’s not insured but we do see in in these other entities where they are then providing insurance which then becomes very important to the mainstream adopter but it becomes important to all of us because again you know do we want to have to always rely on a ledger nan OS for instance or from a simplicity perspective is it easier for us to keep our digital assets on multiple exchanges so even in a bank let’s say and that this is a before we move on I kind of threw this into the next topic but even even a bank it your FDIC coverage is only is it not necessarily say only but your FDIC coverages up to two hundred and fifty thousand dollars so if you decided to hold five hundred thousand dollars in that bank account only two hundred and fifty thousand is covered so that means that if you have five hundred thousand dollars in savings you want to make sure that those that that five hundred thousand dollars is split between two different banks so you have two hundred fifty here two hundred fifty here and you’re making sure that you’re protecting your interest in your savings so that’s also important to note you know at what what amount of insurance will these exchanges provide and and be backed by so if it’s gonna be a million dollars hey that’s awesome you know now that you could safely keep especially if it’s backed by a reputable insurance backer on that you know that you’re going to your digital asset Holdings will be safe at that point right now none of us have that comfort level and therefore and we see what happens with the different exchanges quadriga in Canada being a prime example of what could happen with some of these exchanges that seem reputable but you never know by Nantz right now is one of the largest in the world and has made amazing progress now can it fail it’s not that old of an organization so anything is possible i’m not saying that it is or it will but anything is possible so let me look over here real quick and see March Madness what is this trek Co fidelity digital assets in Japan SBI crypto currency exchange launching this month of lot happening a lot is happening in March a ton is happening hey Spanish fly good to see you glad you could join in on the livestream today oh okay so here’s here’s an injury very interesting one you know and so this is kind of what I wanted to segue into a little bit before we get into seeing what’s happening internationally with Thailand because there’s definitely an update all right ETA update and so yeah mr. B Gavin will the u.s. pass the token taxonomy Act this year and if they do will boost the price of digital assets so number one TT a update there III had a lot more confidence in in seen movement with TTA a couple days ago then I did after I saw what a OC their big statement of some of the moderate Democrats working with Republicans and they said they’re building a list purposely to oust any moderate Democrats that are working with Republicans I thought that was an extremely negative statement and I’ll explain what I mean by this you know that was extremely confrontational if and and and the reason why I bring this up is that AOC Cortes sits on the Financial Services Committee to lab to lab I think she’s on the Financial Services Committee if I’m not mistaken so you have two of these extremists on the Financial Services Committee the very committee that they need to get a vote on in order to pass the token taxonomy Act to Congress now I’m not saying that that’s necessarily the obstacle but one of the obstacles that there is right now to get the token taxonomy act in front of Congress before it’s introduced at this point and I have it on good authority that with Congress in session over the next three weeks that their anticipation was to have it introduced to to the house in the in this period of time so now the obstacle is for them to get I talked about this on the last stream on how important it is for us to get involved but the obstacle is for them to get more solid Democrats on the bill on the token taxonomy Act bill who sit in or on the Financial Services Committee so now we know that Darren Soto is a co-sponsor and will be a co-sponsor of the future token taxonomy Act it should be introduced soon he’s a Democrat Warren Davidson is a Republican now if a OSI has any pull and I don’t believe that she has that much pull I think it’s more fun and and just fear-mongering than anything else but her statement resonates negatively to any form of accomplishment at the government level she basically issued a threat direct threat to any moderate Democrats that want to work with Republicans to get anything done and so she divided a clear division the question is whether or not Maxine Waters as the head of the financial services committee will buy into that garbage the question is whether Nancy Pelosi is going to reign in Cortes because they have a responsibility to keep their freshman members and really to keep all of the Democrats in line with being amicable to working for the American people and not only for their own interests now AOC comes from a perspective of kind of a very left-leaning socialist mindset very antagonistic to any form of accomplishment that can be made at the government level now we do know that in order for any bill to pass you need to have Democrats and Republicans working together on so again if a Oh see if her message of we’re keeping a list of any Democrat to work with Republicans if that holds true and that scares any Democrats and I hope it doesn’t I hope they look at her as a left wing nut on that really should have no impact and it’s the media’s Fudd that’s really pushing her to the surface so yeah Maxine Waters as the head of ahead of that committee so now what it boils down to we’ve already seen a couple very important bills get passed through so from a Democrat perspective they’re concerned about consumer so any bills that go through have to be about protecting the consumer from the Republican side yes their concern concern about the consumer as well but the Republican side of the bill they’re concerned about jobs they’re concerned about economics they’re concerned about you know how can we make this better for the consumer so they can make more money and they can be sin they can safely make money from the Democrat perspective they’re worried about consumers being taken advantage of so you have to blend those together and that’s what they’re trying to accomplish with the various bills that have been presented with the various bills that have already passed through the house that are now sitting at the Senate level so the update to the t/ta mr. B and Gavin will it pass the question is right now can they get important Democrats on the bill from the Financial Services Committee that will work with Darrin Soto that will work with Warren Davidson and actually get this to committee now once it’s at committee from a grassroots perspective I talked about this last time and and it every day becomes more important than the next it’s crazy so from a grassroots perspective reaching out to Democrat congressman on the Financial Services Committee even reaching out to some Republicans my goal here is to reach out to Darrin Soto’s office I want to find out from their perspective on Monday exactly what’s happening I know exactly the perspective from Warren Davidson’s office and there’s a few others then I want to hone in on and find out exactly where they stand so that that’s kind of mr. B that’s kind of the update prior to AOC release in that statement I was very confident that we’d see something on the table within the next three weeks now to Gavin’s up just a kind of summer some up on this point we saw bill introduced in January that had to do with digital assets for putting together or know an organization within government to track and monitor the use of digital assets by terrorist organizations and other but those paths through within two or three weeks those passed the house they are introduced and they passed now if the token taxonomy Act language is is as they’ve said is a hundred percent on point to meaning that and the goal before they introduced it was to make sure that the language was such that the Democrats on the other side would find it extremely appealing and wouldn’t be afraid to put their name on it so if they’ve done their due diligence on that side and they feel confident that they can get the Democrats on board with it because it has all the right language that the language is clean and clear and concise so that no attorney can tear it up that even if there are any minor changes from the Democrat side they’re okay with that if there’s major changes on the bill it’s gonna kill the bill that’s the biggest concern right now so all this chaos that’s going on right now on the left with AOC and our other left-wing lunatics that that got elected recently and and I think I can confidently call it call them that without offending anybody because if you’re a Democrat and a centrist Democrat and you’re listening right now your party’s being hijacked by by socialists who do not hold the u.s. to any regard of high esteem so be very cautious and enter into this with your eyes open if you’re a Democrat I’m not gonna you know go into a political tit-for-tat but keep your eyes open your party’s being hijacked that’s all I have to say but that that is the the major obstacle right now so Gavin yeah I appreciate that comment last question what do you really think is holding back XRP utility that that’s it I firmly believe that price of XRP will begin to move with full utility so until there’s regulatory clarity in order for the banks to begin to truly implement the Eck’s rapid solution because right now ripple net and ex rabbit is going to be the biggest utility and the biggest user of xrp although we see a lot of other solutions that will use it until we see full utility beginning to scale I believe that the price point of XRP is going to stay relative relatively low where we’re seeing it right now in that 30 cents 37 point and so that that’s that’s it you know that’s that’s my primary focus and that’s why I’m so concerned about the token taxonomy act as we all should be because that’s an important impetus to regulatory clarity even for SEC ruling I believe that it’s so important they see the importance and significance of what XRP can do and what ripple net can do for for trade for global for global movement of money I believe that the SEC is also not confident to issue a statement on it and so there have to be other power players behind what’s going on and yesterday I think there was also a statement that said that even ripple is really kind of pulling back on any significant push due to the fact that we’re waiting for this regulatory clarity to kick in and we’re waiting for mainstream adoption we’re waiting for all of the exchanges to really come on board in in the correct way for full mainstream adoption as well which all kind of is intertwined into this regulatory clarity and and and you know and and everything else so Carl 100% these new Democrats are scary they they are and I think we need to be very vigilant of what they’re saying and what they’re doing Oumar sided with the Maduro government and government in venezuela that if if we don’t stay vigilant in to what our representatives say and i firmly believe that Nancy Pelosi and the rest of the Democrats are doing the American people a disservice by not calling and not recalling Omar from Congress and replacing her immediately I think that what what Omar’s statements are extremely damaging to the u.s. they’re extremely focused and polarizing you have two extremely V eminently or three the three of them are vehemently antagonistic to the United States but for Omar to directly come out and say that she does not side not only with the US but she doesn’t side with all the other Western governments in in supporting the interim president in Venezuela and the removal of Maduro directly shows where her allegiance is and where her thought process is Maduro is is a bully he’s he’s a fascist he’s a dictator and he’s destroyed Venezuela destroyed that country so that you know that’s a little bit more on the international political you know perspective but all of this is so relevant to what we’re talking about from a digital asset perspective for the growth of our economy so there’s so many things that are holding the u.s. back right now from this regulatory clarity there’s a ton of insanity going on internally in politics we have to be able to overcome that we have to be able to focus so it when we look at government regulation it and on Wednesday I talked about Thailand now we just saw what’s happening now we just talked for a while about what’s happening here in the US and I didn’t mean to really go more than 45 minutes today and and now we’re already at over an hour but definitely interesting conversation so so in in Thailand Carl I agree every day praying for Venezuela and you know I friends from there I friends with family in Venezuela and it’s it’s been absolutely trying seeing what they go through over there so but but in Thailand and this goes back to our own regulatory clarity in the u.s. how is it that Thailand is pushing ahead of the US right so Thailand as just like and I talked about this last time but it’s like every single day there’s there’s movement and there’s progress being made but yet we just talked about the the the issue with the token taxonomy Act here at the government level but the the SEC updated their list of eligible coins for ico investment and so what’s their statement here so this is right from the SEC website from Bangkok so this is February 28th 2019 the SEC has updated the list of crypto currencies eligible for initial coin offering investment or value comparison as base trading pair against other digital assets traded on digital asset exchanges now this is the SEC in Thailand as a result the current list comprises four crypto currencies namely Bitcoin etherium ripple and stellar why is it that that Thailand decided to pick specifically those for digital assets I find that interesting so again Thailand just pushed through and they’re also talking about the tokenization of securities of stocks just like Wyoming is doing so Wyoming is is far ahead of what we’re seeing anything else in the US and here’s Thailand and why why is this important one obviously XRP is is one of their top four digital assets that they’re recognizing as approved in Thailand so we talk about real world utility if you want to try to spread fun or or whatever you want to do here we have the SEC and Thailand recognizing XRP as a as the digital asset in the top 4 of what they’re going to allow will they allow more in the future who knows but XRP is right there now the key here is that we’re also establishing a precedence so as governments anywhere in the world make a statement that sets a precedence for digital assets setting a precedent for Bitcoin aetherium and xrp XRP is being added so it’s it’s no it’s not coincidence that Thailand added XRP coinbase added XRP Nasdaq is adding the indices for for Bitcoin and and aetherium and soon we’ll probably add an in dice for XRP this is all happening real time on a daily basis and it’s amazing let me go back here let’s see according to Jason Bloomberg ripple is a scam hey wonderful you know I’m so grateful for Bloomberg so grateful for Jamie Dimon so grateful for for for any of those guys for Forbes you know all that all of the the FUD and and you know the obstacle is just like the runner that we talked about in the beginning ran his race with one shoe I’m still I’m still kind of in shock I’ve never lost a running shoe so I don’t know maybe the guy was running super super fast but have you guys you can go check out a video on YouTube there’s if you’ve ever looked on your running shoe there’s that last hole all the way at the top of your running shoe and so it actually has a purpose I don’t know maybe his running shoes a little different when they’re running these races but indoor track but anyhow how do you lose a running shoe you know and then he runs the race and you know tears up his foot and his bloodied and he overcomes the biggest obstacle if that you let’s say that you know losing his shoe was was all the flood that’s being thrown at him and and even more people could have been yelling at him hey stop running you can’t win your race you know you can’t run with one shoe it’s impossible you can’t do it you know so that’s all the FUD coming from and that could have been from the coach and the other runners just like Jamie Dimon all these others you know who seem to be you know at the top of their their careers which they are these guys are wealthy beyond belief Warren Buffett wealthy beyond belief but doesn’t get the concept of the digital asset space you know and that’s fine you know but but at the same time you know you got to be able to cut through and sort through all the fun and see you know see what we see you know and that that’s all there is to it you know I again you know we all we can fall back on you know how many people spoke out against Microsoft how many people spoke out against Amazon how many people spoke out against Netflix Oh Netflix oh they’re never going to take on blockbuster how many people in the in the Millennials even know what a blockbuster was you know they and and their you know any of those video stores there’s there’s none they’re gone right so I mean there might be some out there somewhere I don’t know but but that’s what’s happened you know technology’s change and it’s time to adapt adopt or fall behind and become irrelevant everybody thought that borders and Barnes and Noble will never go anywhere and now borders is gone and it’s been gone for a while though yeah could you imagine Carl if yeah uh jamie dimon decided to attack XRP and not just Bitcoin I have a feeling that if if Jamie Dimon attacked XRP the outcome would be completely different you know I don’t I can’t even imagine what would happen in on Twitter and YouTube if he came out and attacked XRP you know that would be interesting XRP the star of the IMF I mean that’s definitely possible I remember you know he definitely talked about that before there there’s just so much that’s going on you know so then here’s here’s here’s another another thought and this is where you begin to see blockchain technology truly taking hold on from a global perspective large company adoption there was an article in Forbes so we talked Forbes Forks to us you know you got a look and see what’s happening in the world but so Forbes had an interesting article with let me see which one here it is here former state blockchain directors partner with Deloitte to enhance citizen control over government issued IDs now this is really significant also and so we’re starting to see you know what’s happening in the world what’s happening when it comes to the utility of blockchain technology these are two individuals that worked at the government level I was her in a cab Morrison Jennifer o Rourke let’s say over the past two years they’ve been working to gain more control over personal information and our personal information is vital and it shouldn’t be held hostage by a facebook it shouldn’t be held hostage by any entity out there we should have full control over over our own personal information so they work they both worked for the Illinois state government I’m just reading this snippet here from the top the duo began to explore our decentralized technology like that which poin could help make this possible so for the past couple years um and let me see I forget the name of their company they’re young Morris’s this was a year ago he is 27 O’Rourke’s 37 they left oh here it is a test so they created this company called a test which is going to help individuals really capture and and secure their own information so here it says which they hope will serve not only Illinois citizens and US citizens but also citizens around the world eight months later a test has announced its first major partnership with Deloitte and a potential integration into one of the big four accounting firms existing end-to-end solutions so this is where we begin to see so they talk about your social a digitized version of your social your driver’s license your health records this is the direction that we’re moving in with blockchain technology so there’s so much to it but what I wanted to really point out so that’s one area of real-world use case the biggest area of real-world use case that I see right now is an organization called oil and gas blockchain consortium so this is where we really start to see some some interesting real world use case again above and beyond everything else we’ve talked about which is the oil and gas industry using blockchain to reduce cost increase timelines or Inc increased timelines to really eliminate disputes with vendors they want to make sure that they’re creating more transparent movement within the space but the other component really for for anything that has to do in the in astoya l– and the oil industry is also going to have to do with payments and so here they are implementing and and i dug into this i didn’t I couldn’t find how they were or what they were building their blockchain you know what they were building all of this on what platform they were using it didn’t really say so that’d be interesting right now it’s just in proof of concept but it’s being tested the members of this blockchain consortium ConocoPhillips Edwin our Marathon Oil chevron has Repsol pioneer noble energy ExxonMobil so we see some major industry leaders on the oil and gas side getting involved in blockchain to really fix a known variable you know with that they’re dealing with from a business perspective now one of the main areas that’s missing and this is ooc blockchain comm you know if you go check that out OSI blockchain comm you can go see what they’re doing in that space they didn’t address the financial part of it so the question is number one you know what are they building on number two what are they going to utilize to simplify and and decrease the cost of of the financial aspect of it and so only a few things come to mind on that especially if we’re looking at big institution big amounts of money and they need to move money rapidly cheaply or payment in any currency and so the only thing I can think of as ripple net or r3 court up as a potential solution at this point but they’re not really saying anything but you know if you look ahead and you say hey where can all of these things fit in and there you go there’s one it can definitely fit into so great man that was now it’s like an hour 20 I can’t believe we spoke for this long so I definitely want to wrap it up here let me look there’s any uh you know final questions anything you guys want to do otherwise I you know an hour twenty I truly am you know totally appreciate you guys for kind of being with me for that amount of time taking time away from your Saturday morning and so again working on a video that’s going to get into the loan space analyzing Nexo celeea sand and a few others put that into a video I’m going to finish that this weekend and get that out looking to do another livestream on Wednesday come up with some interesting topic again great great to have you guys on today looking forward to seeing you on my next livestream looking forward to seeing you guys comment on the next video until then one final note I guess I got to put it out on these live streams to I don’t know not a financial advisor you guys probably know that already and I’m not providing any form of financial advice everything that I’ve expressed on my video is just completely personal opinions so you guys probably already know that huh anyhow if you want to find your congressperson look in the description below you can find your congressperson you can look up any of the congressional representatives on the Financial Services Committee do your part this coming week our days are running thin for the t/ta to be introduced get in touch with some of the Democrats on that list and find out where they stand on the token taxonomy Act so with that look forward to seeing you guys next time and until then keep on huddling your crypto

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