Ripple/XRP-Not Just #EthGate,2 Projects-To Be An XRP Killer?,The One Man Behind Both Of Them

welcome back to the show everybody today we're going to talk about the idea about there's more going on out here than just eath gate what about stellar what about other projects you know there's a new project that's out here relatively new that claims to be the xrp killer let's talk about that and who's behind it somebody roll that beautiful intro this is digital perspectives with brad kymes subscribe for new content notifications now here's brad kinds come on in [Music] welcome back to the show everybody you can follow me on twitter at backup bradley above and everything that we're talking about here today this is a piece of news i caught in twitter uh from bonkrypt xrp hall of famer here and it's about velo labs now we're going to talk about velo labs and we're going to talk about stellar and jeb mccaleb too but what we're going to talk about here is the idea that i saw an article here and the article said this here is why velo could be the next xrp killer and i'm like say what so this brought me back to this tweet and we're going to get into it so let's take a look velo labs joins forces with inception a cb remittance financial services company available in southeast asia with velo's tech inception will move its remittance business to blockchain efficiency in the southeast asian region and countries singapore indonesia and the philippines now we understand that ripple and ripple net is working heavily and has been for years to build market infrastructure and open corridors in these exact areas and regions when i click on this this is what i get here it takes us here and this is velo labs at its inception work together for southeast a southeast asia remittances the blockchain based financial protocol company veto labs has joined forces with inception a cross-border remittance financial service company available in southeast asia with the use of velo's technology inception will move its remittance business from traditional systems and blockchain to blockchain efficiency in the in the ce sia air countries like singapore indonesia and philippines earlier in 2021 velo has uh welcomed two other companies in the ecosystem and tempo payments to strengthen its market position through this partnership veto labs aims to improve global payment landscape and raise financial inclusion and mobility as inception is switching to blockchain on top of its digital currency corridors offers integrated e-wallet solutions and implements regional funds transfers in the southeast asia region with the focus on small medium enterprise or small medium-sized companies which are known as smes by the way currently it operates in thailand manar and the philippines in indonesia and plans to become operational in 10 countries by the end of this year we got one more month to this year okay then i start thinking about okay well well let's back up here what is this right so i pulled this article here and we just need to understand what it is it's not going to take long we're going to get there just one second because we have some other angles to look at other than just velo the company itself velo labs signed a partnership agreement to expand its activities in decentralized finance known as d5 through six networks at fsn's decentralized finance service arm future stream networks fsn is a korean mobile marketing company specializing in advertising application technologies definix is six network's most recent project and second d5 project on clayton chain following the chain's first official d5 platform clay swap by aussies definix is investment management platform is running on two world-class blockchain networks binance smart chain and clayton chain its primary feature includes rebalancing farm a unique systemic machinery to help with cryptocurrency money management and portfolio risk adjustment to centralized exchange decks and yield farming velo labs is a blockchain based enterprise grade compliance first financial protocol that enables digital credit issue issuances and borderless asset transfers for businesses using a smart contract system it was founded in 2018.

I want to say this chachabal giarvanan a serial investor executive entrepreneur and the current owner of the us-based fortune magazine and advised by none other than jed mccaleb founder of ripple and stellar now it gets interesting velo labs aims to build a global settlement network to make it faster cheaper and more accessible through its partnership with definix velo plans to create a bridge between stellar lumen xlm token and the binance smart chain bsc to enable cross chain transactions of velo tokens which will be followed by 60 days of staking pool and d5 farms velo holders and this that and the other you get it okay so jed is an advisor behind all of this right and then there's this little quick article here where it says velo could be the next xrp killer well then i start saying okay jed's behind this thing it says cross-border remittances are one of the main businesses that provide fuel for the global economy which has been untapped by blockchain technology the innovative ideas brought by the advent of blockchain are finally catching up with the industry as velo protocol sets to merge both worlds it says ripple's xrp ledger technology has provided cross-border payment solutions over the years now it seems its reign over remittances world could be toppled with the bold strides made by velo velo the xrp killer is a blockchain enabled platform that aims to disrupt the international remittance market by enabling worldwide settlement the use of smart contracts successfully serves the purpose of eliminating unnecessary third parties within the system all right well then it goes on and it goes on and it goes on i'm not going to read the rest to you however then it's like let's go to the site what are we talking about here what is the scope of this velo business right the next generation of financial protocol for businesses i come down here and scroll through and again who do we see and look at this this is the size of their activity so far on social media platforms they're very very young when i look here and see jeb michaela behind this then i start saying the motivation here and i say wow you know this gets much bigger than just ethereum and joseph lubin and andrew keys and how they sidled their way up into the ears of the sec to be able to get that unique advantage they had this make it even deeper from another angle here stay with me like i said here is the eath gate i just want to give you this quick clip you may have heard it but stay with me for the continuity and consistency of what we're dealing with here so i was charged with trying to figure out a very simple thing raise money and not go to prison yeah funny but that's the real deal right and now that guy is in prison for a separate event but i digress the point is to show you that is that there is a one there's the battle right there going on with the market agency sec and how they gave ethereum a unique advantage to move forward because they clearly worked with former sec officials and with the current sec at the time in 2018 and before to be able to get that unique advantage that the rest of the market has not gotten now i want to bring you here this is gary gensler in 2018 and stay with me we're all going to bring this back to where velo and jed michaela may play their own part in this two-front battle that ripple faces listen here so what are these initial coin offerings they have attributes of both investment and consumption you will hear a term called utility token but again i would say do not mistake yourselves a utility token can also be an investment scheme it's not one or the other and i think proponents of not regulating this space are trying to set up a false debate again i think it's they're trying to set up a false debate if it's a utility token or a consumption token then don't worry public sector you don't have to regulate i think that's a mistake because the public benefits from investor protection and what's the basis of investor protection before he goes any further i just want to clear the air that on the ethgate front gary ganzler just explained to you clearly in 2018 that he understands well you can call yourself a utility token and it should apply to the fact that ethereum co-founders try to call theirself a product or a good and how does he dumb up in this day that now he sits in that sec chair that that is exactly the same kind of work around that ethereum co-founders tried to do and they continue to get away with by the way and he could change it but let's keep listening it says there's full and fair disclosure that yes the investing public can take risk but they actually should know something about that which they're buying secondly anti-fraud protection you can have anti-fraud and consumer laws but we always every country around this table has a higher standard of anti-fraud in investor protection than just simple consumer protection now let me just skip ahead just very quickly just to get for time's sake here to bring you to the point of how it brings us back to the conversation potentially and possibly of a new front in a new battle for ripple and xrp based on what we see in this statement written the script we haven't hired the actors or actresses but please buy the tickets to the show thus the purchaser is taking inherent investment risk the promoters usually give themselves some allocation to begin with sometimes it's only a small modest percent sometimes it's up to 80 percent of the tokens ripple is a company that has the third largest market capitalization when they first started they kept 80 of the tokens for their own company that's not wrong or right it's just a fact but it's something well not really the fact is is that ripple didn't exist and the ripple was not existing as a company when xrp and the xrp ledger were created and they were new coin and then became open coin and then were gifted to ripple the company and that is where that 80 percent of the tokens came from but that's the part i want to talk about that brings us to a new angle which we've discussed about the escrow that ripple holds will ripple be able to remain the steward of the escrow release every month when it is released after this case is over and then it brought me to another point okay so we have jed mccaleb who's working with velo and we know that xlm is a compelling competitor as well we know that stellar has a relationship with at least one central bank and launching their cbdc over in europe somewhere i can't remember the name of the country right now it escapes me but then it brought me to this remember when stellar burned over 55 billion tokens worth 4.7 billion us dollars i do because at that time i was in singapore at the ripple swell event and i remember when it happened and it was announced we know that stellar network and the stellar foundation is a non-profit where ripple is separate from the xrp ledger and ripple the company is a profit company well not long ago we remember that the xrp ledger was also created as a non-profit as well what gets interesting here is that we go back to this idea that they burned the 55 billion tokens they had which really speaks to a little bit of a twitter battle that went on between david schwartz at that time and jed mccaleb this is a tweet that happened back in november of 2019 and in here was the really acknowledgment of the burning of that david schwartz had remarked here too bad xrp is decentralized or someone could just burn half the supply and raise the price to 29 cents he says jed mccaleb says wtf are you talking about ripple labs can burn half the xrp supply david schwartz says thanks i'll keep that in mind if we ever find that nothing we're doing is working so obviously there's a little bit of bad blood here right at that time at least but you know when you think of this you have to wonder did stellar burn 55 billion to really kind of alleviate an angle that ripple is currently dealing with it gets interesting right if we think about this and look and it may not be a factor but i think there's more going on here than we even realize even outside of eath gate and eath gate is enormous ripple drains wallet for 4 billion xrp is a settlement with co-founder nears completion this was back in september just a couple months ago jed mccaleb has received all of his payout as a part of leaving that company and the agreement to give him a total of 4 billion xrp that's done i think all of these things play some sort of role i'm not exactly clear about how but it's interesting to me because jed mccaleb and stellar burning that 55 billion brought up the notion and the idea and speculation what if ripple did the same thing what is the impact it will have on ripple price if the company burned its 48 billion xrp they have ripple could be forced to burn off as xrp holdings in the community decides to vote for it david schwartz the company cto confirmed this but what's interesting about this is that he says ripple currently owns half of the total xrp surpri ply and comes under fire in the past for selling out tokens in a twitter thread david schwartz confirmed that the community could vote for ripple to burn xrp tokens saying the blockchain is very democratic there would be nothing ripple could do to prevent this changes in the xrp ledger require an 80 approval rate from the ledger validators in june the validators of the xrp ledger voted for adoption of the new amendment known as the check amendment without ripple support by the way the change introduces users ability to issue checks to each other for predetermined amount on the xrp ledger that can be redeemed at a later time in november last year stellar reduced its total coins from 105 billion to 50 billion at the time schwartz publicly opposed stellar's coin burning when stellars burn more than 50 percent of the xlm tokens schwarz wrote too bad xrp is decentralized or someone could just burn half the supply and raise the price of 29 cents which we cover you know i've always said that you know as this sorts out and when you think about this this check amendment right basically saying that one of the amendments that came through was introduces the ability to issue checks to each other for a predetermined amount of the xrp ledger that can be redeemed at a later time now they call them checks on here you know banks refer to these as notes a promissory note this makes me think of the reeves test which is often brought up by gary gensler and could it be possible that we see a designation come out of this settlement or from the treasury or one of the respective agencies connected to the treasury like fsoc which has the ability to deem things as we know we've talked about systemically important to the financial market system or market infrastructure or could it be ofac which was cited by jim rickards the gold bug world economist that could come in and play a role in deciding which virtual currencies would actually be considered the level of currency and if you're not aware banknotes can be used as currency all over the world with no impact to the legal fiat that the countries around the world hold or could we see the remainder of the escrow go to an organization like this the g20 or the g7 could we see a buyback of the escrow each month from the treasury or the fed could we see a consortium built that looks like the g7 or the g20 how many of us actually realize that there are pre-allocated contracts options contracts just like that were done way long ago with the relationship and partnership of r3 before they legally separated we know from that article from ledger insights that they in fact had an option contract on over a billion xrp is it really a thin limb to walk out on to think that the major central banks and governments around the world are certainly the players at the g20 table may hold option contracts of xrp2 i'm not quite sure how all this goes but i'm certainly here for the long haul all i know is is i believe velo's off to a good start but they're not an xrp killer in my eyes they may be doing good things but what i can say is is competition is good for every sector of every industry of everything it gets the best for all of us but we can't have true competition or an innovation race if one of us like ripple and xrp are being held at the starting line by the u.s market agency called the sec that's going to do it for me make sure you hit the like and subscribe leave a comment below make sure you share with somebody you know check out all the links in the description box in the comment section they're great specials and deals and products they're vetted trusted links but you gotta click on the links to get the deals i'll catch you on the next one

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