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Beyond MEME Hype: Stablecoins, AI, RWAs & DeFi Powering the Real Web3 Economy
Recorded: April 21, 2025 Duration: 1:17:00Space Recording
Short Summary
In a recent Twitter space, industry experts discussed the transformative potential of stablecoins, AI, and tokenized real-world assets in the crypto landscape. With insights into trends and growth opportunities, the conversation highlighted the importance of education and partnerships in fostering innovation and accessibility in the Web3 economy.
Full Transcription
Thank you. Thank you. you
hey everyone welcome to a new space this is Jitendra Naik marketing and community manager India and let's give like one or two minutes before starting the space to add our speakers and
yeah, then we can start discussion.
Thanks. Thank you. The End Thank you. So yeah, I think we are ready to start.
So yeah, I think we are ready to start. We have our speakers ready and before starting
this space, I would like to shake the mic from our speakers. So please guys, could you
help us to test out our mics?
Hey Jitinder, thank you for inviting me.
Great, thank you for joining me and giving us the time.
And Kassiv, could you please help us to test our mic?
Hi, Jitinder.
Perfect, perfect. Hi Jitinder. Perfect.
Hi, Jitinder.
How are you?
Yeah, I'm good.
I'm good.
How are you?
Yeah.
Yeah.
I can hear two voices.
I think.
Ashir Bhai, just check if you have logged in using laptop, maybe two tabs open. Let me check.
How is it possible?
Otherwise, it's better if you join using the phone.
Yep. yep I think Kassif's took us some time to join us back.
So until that, I would like to give some brief introduction about our guest and about today's
big introduction about our guest and about today's space so guys today we're gonna deep dive into
space.
an important topic and i believe everybody here who is interested to learn something
when i enjoy this space so today's topic is beyond memes and hype and we will learn how stablecoin
ai rws and d5 are building the real-world economy because this is
something which is gonna save the real web 3 and for this space we have two
special guest so ladies and gentlemen welcome to this Twitter space again we
are thrilled to have two incredible minds from the crypto world joining us today for discussing this topic.
First, let us welcome Kasif Raja, which is unfortunately because of some mic issues, he is going to join us.
Yeah, he is here.
So first of all, let's welcome Kasif Raja, co-founder of BitME and CISN's voice in blockchain, trading and analytics from India, known for breaking down complex market trends into actionable insights.
Kassif has been a guiding force for traders and people who are interested in life.
And next we have Adit Rassim, the driving force behind Crypto India, one of the most trusted platform for cryptocurrency education in
India's system from Bitcoin basic to regulatory updates at this first world empowered thousands
of investors to navigate inside the crypto with confidence so both of all both of these experts
bring a wealth of knowledge and we look forward to diving into today's discussion as i mentioned to learn how stable
coin ai and defy are building the real web 3 economy so before starting the questions question
answer round i would like to give stairs to our speakers to give to give them opportunity to
introduce themselves and to tell us people uh how excites uh you most about Web3 and real-world potential today.
So yeah, guys, you guys can take the stage to introduce yourself.
Thank you so much, Jitendra, for inviting and hosting this and for that introduction.
And it's good because I think this tutor space is a global platform.
So that way, I will get access to a lot of global listeners as well.
I think there has been a lot of development around the world when we talk about cryptos, stable coins, RWA, AI.
And in terms of India, there is also a lot of development.
So I think today's session will be a good session where we can discuss like what sort of developments are happening in India and
maybe people who are from different country, from different parts of the world, they'll
also get to know more about it.
100%. Yeah. So now I think I should go next to introduce himself.
So now I think Kassif should go next to introduce himself.
Yeah, hi.
Thanks a lot for inviting me.
I completely agree with Adi Bhai.
So I think, first of all, I think I should thank you for inviting us on this global platform.
And it is very important to, you know, have a discussion on certain areas.
Because in this industry, you have a lot of noise.
And every day, there is new narrative.
And every day, there is something that is new turning up.
It is very important to discuss from time to time all these scenarios.
And I'm really glad that today we have two speakers from India.
So I think this in itself is a very good feeling
because this just shows that this industry is altogether global
and anybody from anywhere can really add value to this.
So really thank you for inviting me.
I'm in this space for the past, say, seven years in this industry since 2017.
That was a time when there was only Bitcoin and probably Ethereum.
And Ethereum was at around $1.
Probably that was the time.
And then I used to think that, you know, Ethereum at $1 is a little too much.
I don't know what it is going to
solve and then in these seven years i've seen all that uh going from you know ethereum going from
dollar one to all these different kind of you know layer ones coming up right in front of my eyes uh
so it's been an overwhelming journey uh from a from a doubt from a skeptic from being skeptical to
uh whatever we are seeing today uh i think it's it's a it's from being skeptical to whatever we are seeing today.
I think it's a overwhelming feeling to see industry growing.
And now we are seeing that all these institutions and corporates jumping into it.
This brings in a lot of interesting credibility to the industry.
Even today, when I talk to a lot of people around me, they are still confused.
And obviously, the jargons, the Web3 jargons and all these new technical terms, people are not easily, you know, they're
not able to understand it easily, you know. So my job is like, through education, I try to simplify
things and try to make them understand that what this industry is all about because if they understand it in a simple way probably then they'll go a
step further and probably find a career in it or or be comfortable investing and that is that is
my job and I'm just loving that job and thank you for inviting once again yeah actually I would like
to thank you guys actually if you if I know, I am following you since like 2016, 17, big fan, I would say.
And I know you guys have a use role during all the roller coaster ride of all the Indian
users in crypto space.
You guys have helped lots of people to remain in the space and onboarded lots of people
in Web3 through education
i'd say pure education about web3 and crypto so that's why when i got opportunity upon opportunity
to invite people like you then i definitely you know you guys have my first preference to
join and to invite in in space like this to educate global people and i'm pretty much you know happy to host
you for this event and i'm expecting in future we are gonna do lots of collaboration for making
lots of people educate about web3 and crypto and yeah this is something uh from my end about you
guys so yeah i think uh we can now start our phase and we can go to other questions
so first questions to uh aditya so as you guys know india is like a huge uh market for every
industry like you know crypto so how are stable coins evolving beyond trading to enable a real
world use case such as remittance, payments, or financial
inclusions, particularly market like India?
You can give some insights about it.
Yeah, I think when we talk about stable coins in India, even now the major use for stable
coins in India is still limited to
trading crypto trading but still like when we talk about remittances this is where this market
is growing and actually there are people who are using crypto sorry stable coins for remittance
like just to give you an idea the population is in of India is around like 1.4 billion. And if we look at the number of people who are in crypto,
they are around like 20 to 40 million.
The exact number is not known.
Some say 100 million, but let's say 20 to 40 million.
So that comes to like just 1.5 to 3% of the population
who are actually in crypto.
So now in terms of remittance,
like even if you look at India,
India is a major country which provide a lot of workforce to other countries. A lot of people go
out of India, they work in Gulf, in Europe, in US, they work there, but now they have to send
money back to India. And that is something which is very expensive. So that's why now there are a
lot of platforms like it's not easy, but there are a lot of platforms that are coming up.
Like if you look at MoneyGrams.
So MoneyGram is like one platform which operates extensively in India.
And a lot of people use it when they want to send money back to India.
So how they work is if you're working in US, you put your USD into MoneyGram.
They convert it into stablecoin.
I believe they are using Stellar blockchain.
And then you can send it to the receiver in India,
and then you can settle it in INR.
Similar other services, like if you look at PayPal,
so PayPal backed USD coin, that is also being used.
And there are other services.
And in fact, like Visa and Stripe,
all these platforms are also exploring these options
because we live in a time where we talk about RWAs, And in fact, like Visa and Stripe, all these platforms are also exploring these options.
Because we live in a time where we talk about RWAs, AI robotics,
like rockets that are flying and landing back on their own.
But if you look at the existing payment system that was developed in 1970s, and we are still using it.
So it is outdated, and it needs a change.
And I think stablecoin is something which has introduced a new technology,
which was not accepted when it initially came out.
But now, like, the governments around the world are realizing, like, this is the next step.
That's why the stable bill was passed in the US.
And I think we are going to see more solutions in coming days.
Now, in terms of India, like, if you have been following in India,
the regulations are still not clear.
So people are still skeptical.
They don't trust crypto or stable coins that much.
And in fact, when it comes to stable coin, like when you look at US, US has passed the
stable coin bill, like it will become a part of the banking system.
Like all the companies will launch products around it.
But when you talk about India, the India Central Bank and the
previous governor, they were very skeptical of stable coins. One of the reasons is we don't have
a stable coin, which is like Ina stable coin. Most of the stable coins that are there in the market
and even Indian buy or use it, it's US backed dollar stable coin. So they look at it as a threat
to Indian rupees. So that's why they are not
comfortable with it. And they always want about it. So because of that, there are a lot of people
who are very skeptic about stablecoins. And India, like, even though things are developing,
and it's changing with time, even a lot of people are now getting bank accounts, but still,
in terms of crypto crypto the education is lacking
and if you look at transaction that happened in india as well like even now like 70 percent of
their transactions are settled in cash so i think these are few challenges which in terms of
remittance it's limiting it because if you look at india like the the largest company that does
like the maximum remittance that's india
like alone in 2024 around 120 billion was trend uh send uh through remittance so if you compare
like how much happens with stable coins like very small the number is not known you can say like okay
five percent ten percent but that's like a big scope because when you do remittance through
stable coil you save so much money the transaction fee lowers down even the settlement is like instant so yeah so i think when we talk about
use of stablecoins outside crypto trading and other things remittance is something uh which
can really help a lot of people in india so yeah actually uh from from your answer, which I would like to conclude, like because of some regulations and all, people are still skeptical using stablecoin, but still most of the people use for trading and for remittance.
That's this point where still very low amount of people use stablecoin. Yeah. Yeah. Yeah. Because if you look at the population, it's
the amount of people that are using stablecoins for remittance and other things, that's very
small. But there is a lot of growth opportunity, which I think can only happen once we have clarity
on regulations and government supports us. That's why a lot of people are very skeptical.
People who are in crypto and they know about it, maybe they use it.
But for the rest of the population, they try to stay away from it because of lack of education, maybe, and uncertainty around regulatory clarity.
Perfect.
Perfect.
Yeah.
That's something new which I got from you.
And yeah, it was a great answer.
And yeah, I think we should go for the next question to Kasif.
The question is, AI obtained Tudas when you work three,
but how it practically improving DeFi protocols,
for example, optimizing is managing risk
managing risk and what challenges remain in scaling this solution.
and what challenges remain in scaling this solution?
Okay.
So you were saying how AI can really help, you know,
the DeFi protocols and what are the challenges remain in scaling this
solution?
Is that the question?
Yep.
Okay. solutions is that the question yep yeah okay so okay so my my how i like to answer it is uh ai is
really going to disrupt uh everything right uh so so and and uh you know it is about to disrupt
you know careers and everything around us uh you know and uh so definitely ai will have an
impact uh on d5 protocols and in web3 especially because ai use uh is going to increase uh you know
by by everybody and uh in web3 ai definitely has a lot of use case and it's going to happen. I was there in Binance Blockchain Week, I think last year.
So there, the first thing that I got to know is that there was this showcase of a particular project the project was literally like an open AI where you could type in and the AI was literally taking
your command and doing a Web3 transaction. So going forward, there will be a time when
people are going to put in a prompt where they'll say, okay, find me the best yield in T5 protocols.
So probably, you know, it can answer you that.
Then you can maybe give up around that,
find me the best yield in, you know, in Binance maybe,
or, you know, transfer this protocol,
or, you know, get me a loan at the lowest rate of interest,
maybe from any particular protocol.
So all these kind of things will turn up,
but these are very basic things
where AI and AI agents are going to perform.
But in general, AI is really going to disrupt a lot of things.
Let me give you, first of all in a brief you know idea that how uh this particular narrative
has really done uh you know how it has performed in uh 2025 just to give you a perspective out of
the uh top 20 crypto narratives of 2025 six were meme categories and while five were AI related. So this is a CoinGecko report that I'm reading out.
And very interesting thing is that the most popular crypto narrative in 2025,
Q1, were related to AI, which captured a combined total of 35.7% of global investor interest.
So AI in general, there's a lot of interest in this particular segment.
Now coming back to how it is going to practically
improve the DeFi protocol is,
the first thing that it is going to do is
that in yield optimization,
AI is going to play a very important role.
To elaborate on that is,
AI algorithm will analyze market data.
They will analyze the liquidity pools and
historical trends to recommend you optimal yield farming strategies. Like, for example,
protocols like Yearn Finance, we must have heard, all of us must have heard about it. Yearn Finance
use AI-driven vaults to automate asset allocation across pools for maximum returns, right?
So for yield optimization, AI is definitely going to be used a lot.
Then coming back, another example I can give you
where AI can be used is risk management.
So AI models will predict liquidations and market volatility
by analyzing on-chain data.
Tools like Aways, risk dashboard leverage AI to assess
collateral health and adjust liquidation threshold dynamically. So already Aave is using AI dashboard
to assess collateral health and liquidation threshold dynamically. So already Aave is using it.
In yield optimization, Yearn Finance is already using it.
And then another thing
where AI is really going to be used
in DeFi protocol is the fraud detection,
where AI will monitor transaction patterns
to flag suspicious activities,
such as flash loan attacks
and enhancing protocol security.
So fraud detection will be one of the use cases
where AI will be used in DeFi protocols.
And then you have AI is also being used by Chainlink
when it comes to cross-chain, KYCs.
So a lot of stuff will happen in that space as well
where AI will be used. Obviously,
it is still evolving. A lot of solutions have bottlenecks, like in terms of data quality,
DeFi, decentralized data can be noisy or incomplete, right? So limiting AI model accuracy
because the data is not as vast as it should be. So AI is generally, AI is dependent upon the data is not as vast as it should be. So AI is dependent upon the data.
So when there is a limited data available,
so the accuracy of the outcome of the data is an issue.
So data quality is an issue.
Scalability is an issue where high computational cost
of AI model can strain blockchain networks, right?
Because blockchain networks, right?
Because blockchain networks have this, you know, limitation in terms of bandwidth,
in terms of speed, in terms of, you know, data availability.
So high computational cost of AI could be a strain, right?
Especially on layer ones like Ethereum, right?
Which automatically doesn't scale.
You have layer twos uh you know
for that so for l for ethereum like l1 that is not very scalable obviously it is a problem it's
an issue then you also have privacy issues where on-chain transparency you know conflicts with ai
need for private data so yeah there are practical use case of AI already, you know, as I told you, Aave, Balancer, Yonfana, already they are doing it.
But obviously, you cannot say that it's 100%, you know, the use cases coming out is close to 100% of what was expected.
expected, but then slowly it will grow. Slowly and steadily you'll see that a lot of use
case of AI will continue to evolve as we progress.
Yeah, 100%. In B&B chain, we also have lots of infrastructure for the AI. And I'm going
to tell you, currently we have also inviting hackers like we are running our AI hackathon where
lots of people are joining us to invent new things in BNP chain using the AI technology.
So definitely with time lots of things are gonna be there and we're gonna see lots of innovation
in Web3 and AI. So yeah that's interesting. And so the next question is to
Aditya. So tokenizing real world assets like real estate and commodities is gaining momentum.
Can you share example of how RWAs create value for everybody, everyday users and make market
more accessible.
Yeah, in terms of example, I'll give you two examples which are like very big in India. In India, what people value a lot is one real estate. India's real estate is around like 300 billion market it is. And if you look at gold, there's another thing that people like to buy in India. Like it is considered gold is considered like a cultural store of value against the inflation.
So everyone in the house always tries to buy gold. But these are two things where RWA can
also provide a lot of solution and it can make these two things accessible to a lot of users for example if we
talk about real estate so i'll give you one example i think back in 2022 there was i forgot
the name but there was this one project or one firm or one realtor which sold a condo that was
in miami us for around like 2.4 million dollars now if somebody has to buy this condo that was in Miami, US for around like $2.4 million. Now, if somebody has to buy this
condo, he'll have to get all this money, right? $2.4 million. But it is not possible for a person
sitting in India to buy that condo. It will be like, you need a lot of things, there are a lot
of regulation, you need a lot of money, you need millions of dollars. But what they did was they
tokenized that condo on Ethereum blockchain. And what they did was they tokenized that condo on on ethereum blockchain
and what they did was they they created like 10 000 tokens so they just tokenized this property
and it was each price that 240 so it comes to like total 2.4 million dollars and now anyone in the
world like if they want to own a part of it a fraction of it they can do it you can buy that
token from india you can buy that token from india you can buy that
token from dubai you can buy that token from anywhere and once you hold that if that property
is put up on rent or maybe the value appreciates and in future you sell it so you get that
appreciation in the token that you hold so that's one way like a property that is not easily accessible to you, you can get it through RWS.
And like other example is like gold.
If you look at gold now,
even if when you want to buy gold,
you have to like go,
you have to physically buy it.
You have to see like,
there's a lot of difference when you buy it.
But if gold is tokenized,
like if you look at Paxos or Tether,
so they have the tokenized gold and they have launched their own tokens.
And this market, I think, has grown to almost, I think it's, I think 1.2 billion or 1.5 billion dollars now.
But it's like if you want to buy gold, you have to physically hold it.
You have to physically keep it and you have to keep it safe.
But if it is tokenizedized like you can just buy it
like for example tomorrow if i want to buy like just 10 10 dollars worth of or five dollars worth
of gold so i can just go on binance and maybe i can just buy paxos gold and i can hold it so this
way what happens is uh tokenization of real world assets is an easy way to buy anything that is not
easily accessible for you and something that is expensive. There are other examples as well in terms of treasury bonds or other bonds or stocks
or maybe art as well.
But I think too that really I feel it has a lot of potential is like property or maybe
gold or commodities.
Yes, yes.
Make a lot of money in India.
Definitely.
Sorry? Yeah. Yeah. Yeah. Yeah. yes yes in the market like in india definitely sorry yeah yeah yeah yeah think think of this like for example uh like i always think like okay if there's like a building like in a really
premium place a posh place there's a building which is like very expensive like five million
dollars and it is a commercial building where you can rent out spaces for offices but now you want to buy that building and you want
to rent it out you don't have the money so you tokenize it you somehow sell tokens and you raise
money you buy that building and whatever rent you raise from it and whenever the value appreciates
you can give it back to the token holders. So that also makes a lot of possibility,
like it opens a lot of possibilities for people,
I think.
So, yeah.
Especially in a place like India.
100% agree.
Because I believe in India, we definitely need lots of solutions
for gold and commodities,
real estate and properties
in Web3 and blockchain so yeah agree so
next question is to kasi d5 aims to democratize finance it adoption barriers based for what
strategy or technology do you see as key to making decentralized finance more approachable
for new users, particularly emerging market economy like India?
So, it's a global platform, so I think it is important to suggest something for the emerging economies all over the world, not just India.
And how, you know, DeFi can be, how you can, you know, maybe lead adoption, how you can drive more adoption of DeFi in emerging economies.
of DeFi in emerging economies.
I think, first of all,
you need to see that, you know,
it's very difficult today
for any user to start his or her DeFi journey.
How difficult it is for today to,
you know, if somebody has to start his DeFi journey,
first of all, has to get a MetaMask wallet
and then he or she has to learn about how to make it,
keep it secure, store their private keys and then store their private keys in a way that, you know,
they don't lose it. Then you have to make them learn that you don't have to interact with the
malicious link or a fraudulent link. You don't have to do this. You don't have to do this. You don't have to do this.
It's, you make this journey so scary
and so discomforting.
And at times you get nightmare,
you know, to use DeFi
because the journey is very, very difficult
and people are really not used to it.
People are, yeah, you can say that,
you know, at the end of the day,
you have your own, you are responsible for your money, then you need to be very, you need to learn this thing
and all that. But most of the people, with all due respect, are their own, are they in their own
comfort zone, and they really don't want to take a lot of risk. So first thing, first thing comes
first, I think wallets like Metamask and Trust wallets, they need to be very simple when it comes to using DeFi.
They really need to innovate, and a lot of innovation has to go in wallets.
I'm really happy to see a couple of good wallets have come up.
you know, good wallets like have come up.
Even Binance, Binance Web3 wallet is a decent one
where they have really improved in terms of UI and UX.
But I think still it's a long way
because I really feel that you need to gamify DeFi.
So it's a term which I'm giving today.
It's gamifying DeFi where you need to,
where people are just using DeFi as they don't even know,
they're not even aware that they're using DeFi.
You need to make it more attractive,
you need to make it more easy,
and you need to make it more secure,
and you need to make it more hassle-free
so that everybody can just use it simply.
Second is low cost.
You don't want people to spend a lot
when it comes to swapping and paying gas fees
and figuring out how they're gonna get money
for the gas fees because people are generally not used
to spending huge amount of money for transactions.
So they really don't want to do that so here the the the role of layer twos will really jump in where like arbitum
optimism polygon they're really gonna uh balance chain they really are hooded that they probably
more applications more defy need to uh come on these layers where you
know i really feel that uh all these layer ones or scaling solutions are more focused toward memes
we can discuss it later uh memes and you know they're more or less busy toward bringing hype
but i think the real user is somewhere in africa uh you know uh who's really struggling
to meet his ends who's really struggling who doesn't have means to to to access the global
finance probably is looking for those kind of solutions but obviously they are boring solutions
and not many people i see are working toward that with a mission. But I think layer twos can really work on that because of their, you know, because of the low gas fees.
I think layer twos will definitely can come in picture in future stable coins.
I think stable coin is a great way to store value for somebody in zimbabwe or venezuela for them before bitcoin i think for
them it is they want to invest in usdc or usdt they want to just convert their currencies into
us dollar because we we all know the kind of inflation or hyperinflation that is going
in those countries so so usdc and usdt all these dollar backed stable coin
access through various apps and wallets uh could be the next thing and i also feel uh education
education plays a very important role i've not not seen a lot of initiatives being taken by
all these projects and VCs.
VCs don't invest in education startups.
You need to make education accessible in local language.
Like me and Addy create a lot of content in Hindi, in local language, in India.
Despite the fact you get more revenue as an influencer through english
platforms or english language but we tend we have really sacrificed that just because we know that
a lot of people will understand hindi our national language because making content in national
language will have a larger reach so education and localization of the content is very important.
Binance is playing a very important role
in Binance P2P trading,
where a lot of Fiat on-rems and off-rems.
Binance is helping people to start their journey
from their local currencies.
And one thing I've also seen that in our industry, I've never seen somebody investing in mobile networks and mobile platforms and internet reach.
And one thing I've also seen that in our industry,
How many startups in Web3 you have seen who are really investing more or building something in increasing the internet reach in Africa?
more or building something in increasing the internet reach in Africa. Because if suppose
internet will increase or if suppose internet will reach to people, you are automatically
making the finance available to them, the DeFi available for them. So that is one space where
if you really want DeFi to grow, first, we need more VCs and startups to invest in internet and mobile networks and then nobody's
talking about a huge opportunity uh i think only one or two are there and they're very small and
nobody's interested in them because once again people are not realizing is is uh the uh sharia The Sharia compliant DeFi. So you have DeFi today that you see.
But Sharia compliance DeFi is a DeFi where the interest is prohibited.
Where interest is not there, where futures are not there, where perpetual trading is not there.
So Islamic countries like in Middle East, it's a huge opportunity where, you know, Sharia compliant
DeFi is the future. It's a huge market, but hardly you see anyone building in that space.
Yeah, I know personally there are one or two who really come up and they're building on top of
Solana and stuff like that. But more and more innovation and more and more startups need to come options and perpetuals, the Middle
East countries will welcome that DeFi in their countries.
So I think if you really want DeFi to grow, all these factors need to be kept in mind.
Yeah, actually that's something, yeah, I agree with that.
And as you mentioned, internet penetration is very important for a country to get involved
in Web3.
For example, in India, it becomes the top country among the top countries as a crypto, no, highly,
I think, ranked 2 or one in crypto user rank, just because they have a huge penetration
of internet.
And yeah, for the two solutions, I would like to mention BNB chain has OPBNB, which is high
performance optimistic layer two solution for BNB, which is optimized layer two solution
that delivers low FE, high throughputs to unlock the full potential of BNB which is optimized layer 2 solution that delivers low FE, higher throughputs to
unlock the full potential of BNB chain and OP BNB lots of solutions are building and
lots of new things is creating DeFi and as well as web 3 space and definitely this is
something which is gonna help to involve billions of users in the BNB chain.
And yeah, this is something which definitely a new insight for me from you.
So yeah.
So next question is to Aditya.
How has Doublecoin helping businesses and consumers manage volatility risk in Web3?
helping businesses and consumers manage volatility risk in Web3?
And what specific application do you find more promising for driving financial stability?
I think stablecoins help a lot.
And I'll give you a story about stablecoins.
So back in 2013, it has been been few years since Bitcoin was launched.
And there were fewer platforms where people could buy Bitcoin back then.
There were few coins, but not that many, but the process to buy Bitcoin was very tough.
Like you have to go through all sorts of processes and they were very limited.
Channels that you had from where you could buy it.
And even when you buy it, you have to wait like sometimes five days, sometimes eight days, sometimes 10 days, right? And 2013 was the
year. I think around that time, Bitcoin was like, I think 10, 20, $30, something like this.
And by the end of the year, Bitcoin went from like 20, 30, something like that, I might be wrong,
to like $1,200 and then collapse to $600.
So now when something like this happens, imagine like if you, if you want to trade it, you
have Bitcoin, you bought it like at $20 and now it's at $1,200 you want to sell it.
So if you try to sell it, you'll have to wait.
You'll have to wait for like four or five days.
And even if you do during that time, if something happens, you cannot buy it back.
So that was the problem that everyone realized that if you buy, okay, you can buy and hold it.
But if you try to sell it and buy it again, actually, if you try to trade it, that's not possible.
And it's not like possible in crypto.
So that's why birth of stablecoin happened during that time.
I think first one was BitUSD.
It was by BitShares.
It's like a very old project now sort of not that life i think
sort of dead and then the other one was uh tether these both these stable coins came out in 2014
so what stable coin did was it gave uh people an option first to trade and because of stable
coins now we have this trading market wherein within seconds like
if you want to exit you want to buy again you want to trade you want to do anything so you can do
that so of course when there is volatility when bitcoin is going up or going down if you want to
buy at a specific price and you have stable coins you can buy it if you want to exit you can exit
again in stable coins so that that's the reason why uh stablecoins were born. So yeah, definitely when it comes to stablecoins,
it helps a lot in managing your volatility
because this market moves really fast.
Now in terms of specific applications,
I think cross borders is going to be big
when we talk about stablecoins.
As I mentioned before,
the existing payment system that we have
is like really old. It's from 1970s. So that needs to be upgraded. And I think next upgradation
can be using blockchain and stablecoins can be a part of it, specifically the bill that has been
passed in the US. So I think it's going to integrate and eventually it's going to spread
all over the world. And probably we'll see like all countries launching their stable coins or some form of it.
Or maybe they make a new entity or something sort of like, or maybe IMF does it.
So I think that's going to be a next thing that's going to happen.
It will take time, but I think for cross-border payments, stable coins will definitely become a solution.
Also, one other thing is like, if you look at traditional banking system, everything wrong that can happen, it happens with the banking system.
If you have your money, if you keep it in the bank, I'll give you an example of India.
If you put your money in the saving accounts in your bank, you get an interest of 2 to 5% annually.
your bank you get interest of like 2.5 2 to 5 percent annually right but suppose like if you
use stable coins and you put it on like d5 platform to earn yield you want like five to
ten percent a year so that's a big difference and on top of that even like if you have to take loan
you go to a bank they will charge you like 10 percent 15 percent that's in india but if you
got like d5 platform you can get it for like three to six percent so that way also there is a big difference and a lot of benefits for for users so that's why a lot of
people who are aware about crypto they are they have the education they know how to use the
platform they prefer to use stable coins for these things as well to earn interest because
even five to ten percent compared to three to 6 percent in bank is very different so yeah these
are few specific applications which i think have a lot of potential yeah actually i agree with that
and for that we need to have a you know have to put lots of effort in terms of education
to drive education and that can be you know gonna help people to learn about these platforms
they can you know use instead of the traditional systems so yeah that's yeah
something definitely something which need to focus in terms of education so
yeah the next question is to Cassie as you have already described a lot about
AI in DeFi but still I would like to know AI and
blockchain have strong potential together.
Can you give some concrete example of AI enhancing Web3 applications like fraud detection or
user onboarding and what makes this integration effective?
and what makes these integration effective?
Yeah, so obviously this space is evolving.
So the use case is definitely on the rise.
A couple of applications that I remember recently
have been making a lot of noises like
as the industry is progressing,
you see the most vast use case
where AI is being used is by chain analysis,
like in fraud detection,
where they are using AI to analyze blockchain transactions.
They are using it to identify illicit activities
like money laundering
i give you a number uh it flagged close to 3.7 billion uh us dollar in crypto hacks in 2022
so through ai so right so chain analysis is using it uh it is it is like tracking all those
transactions where they feel you know there is some suspicion uh in user onboarding like tracking all those transactions where they feel there is some suspicion in user onboarding.
We all know that all these governments are worried about these non-custodial wallets and the transaction happening in DeFi.
So they kind of want KYC to come in.
But that KYC is going to be very different from what we see, all these driving license and passport-based KYC in come in. But that KYC is going to be very different from what we see, you know, all these driving license and passport-based KYC in Web2. So you must have heard of this
project called Civic, where they're using AI-driven KYC solutions to verify identities on-chain
without compromising on privacy, streamlining access to platform like Uniswap,
where Uniswap is also using it.
So they're using it, KYC as well,
Civic is using that.
Then you also have,
so one major important use case of AI
is going to be auditing of smart contracts to see if there is some bugs, you know, because we all know that all these smart contracts keep getting bugs and then later they get exploited.
So Certiq has employed AI to scan smart contracts for vulnerabilities and for reducing exploit.
for vulnerabilities and for reducing exploit, right?
Just to give you a number,
in 2024, close to 2,000 projects were audited.
And there were a lot of bugs.
Close to million dollars were saved in potential losses.
So AI is really helping smart contracts to become more robust.
So AI is really helping smart contracts to become more robust.
Then we all know how Graph is using.
So one of my very close friends, Pranav, he works in Graph.
So while having a conversation with him, he's a developer in Graph protocol.
So he was telling me that Graph is using a lot of ai to tailor data queries for dApps uh so that
means that you know to for improving uh user engagement in nft marketplaces so openc
is using a lot of uh you know this thing so wherever there is data and wherever there is
data there is algorithm uh you know ai is definitely definitely being used by a lot of projects.
So these are like a couple of examples that I remember, but there are many, which I'm
sure everyone can just go and see.
Yeah, definitely.
And AI is evolving.
So I believe there are so many things which are going to be explored
and lots of opportunities are there, lots of space to fill and AI is going to change
the web tree in lots of possibilities obviously there. So yeah, let's go to the next question. This question is to Aditya. As earlier, Aditya described lots of about use of RWA's and all.
So I would like to learn more.
So the question is, from your perspective at Crypto India,
how can tokenize RWA's like art and properties,
open up investment opportunity to retail investors,
and what hurdles need to address for mainstream
adoption?
Yeah, like as I mentioned before, like in terms of tokenizing properties, tokenizing
commodities, art, so it opens a lot of investment opportunities for retail investors who don't
have that much funds.
And like, for example, like, as I mentioned before,
like if you want to buy a property,
which is like a commercial building, but it costs a lot,
you can tokenize it.
You can put it on a, for example, Binance RWA platform.
So I plan to buy a big commercial building,
which is expensive, but has a lot of opportunity to rent it out.
And I feel the price of the land or the building might appreciate in future.
And I just tokenize it.
I put it on Binance, like 10,000 tokens worth this, this, this dollars.
Not anyone in the world can buy it.
It can happen instantly.
You have stable coins, you just buy it.
You buy it, I get the fund.
Okay, I buy the building.
And whenever the price appreciates, the rent that i get it is divided it is like a system which is so properly legally planned so
that nobody can misuse it and people who invest in it they are part of a contract where they
earn through it even you can invest like hundred dollars two hundred dollars so it opens a lot of
opportunities but when we talk about it like you can think of so many
things that can go wrong right first of all is like how can you trust the other person if I say
okay I'm gonna buy like I have a big business plan I'm gonna buy this big commercial building
very good location we're gonna make so much money buy my this tokenized token how do you know like
can you trust me once you give me the money maybe I run away right so that's why we need a lot of
Trust me, once you give me the money, maybe I run away, right?
So that's why we need a lot of regulatory clarity and involvement of every country's government as well,
wherein you have specific departments.
Like for real estate, you have real estate department in every country.
So need their involvement as well.
Whenever you try to tokenize and you want to do something like this,
you need a legal contract which is legally binding. And if you do that, there has to be KYC wherein
this digital ID is coming. So I think that sort of integration is something that we need.
On top of that, the other challenge is because we don't have regulatory clarity, there's
a lot of uncertainty about it. Also the education, like in current, I feel in future,
RWA is going to really evolve.
I think now it's starting, people are starting to talk about it,
but it's going to take a while before it goes back.
I think maybe like in 20, 30 years,
it's going to be something which is going to become very normal.
It will happen, like it will happen in batches where it will evolve.
Like for example, in India, in India, there's a state called Gujarat
where there's a gift city
which is specifically dedicated to innovation.
So they are experimenting with RWAs,
how they can tokenize the property,
commodities, stocks.
So they are trying to experiment.
They are trying to see what are the uses,
how we can use rws so i think uh yeah so these sort of experiments will happen at the big night and
eventually i think it's gonna become something which is gonna be good but yeah like these are
a few challenges like regulatory uncertainty and also like the education education is the most
important thing because even in crypto when we talk it, if you look at the population,
I think hardly 15% of population in India are even aware about like,
okay, like in-depth crypto, what it is, how it works.
Like alone, if you talk about DeFi, most of the people don't even know about it.
So I think education plays a very important role in this.
And then the infrastructure and scalability is also one thing. Like,
if you look at existing blockchains, every blockchain comes in, they say, okay, we can do
these many transactions, we can do this. But whenever something happens, for example,
if you look at Solana, right, when there was like a meme coin craze, and everyone was just
going, jumping, buying, it got congested, it went down so many times. And we have seen this
cases on and off on every blockchain.
Whenever something like this happens, it goes down.
So we need these sort of blockchain who can really actually manage
this high level of transaction where we really expect the world
to go into our WAs and launch everything on that.
So we need that sort of blockchain as well.
So infrastructure and scalability is also something that is highly required. And on top of that like the trust and for address that needs to be implemented
yeah actually this is this is definitely true uh there are some things which uh you need to
involve to make this thing possible which uh basically requires a high tech blockchain which is gonna handle
billion of transactions and affordable at affordable cost and definitely opb and be
something which is building something to solve and to onboard billion of users. So, yeah. So, the next questions without a relay to Cassis.
What role does community-driven education play in demostifying
Web3 concept like DeFi, stable coins,
and how can we highlight their particular value of flussy trends?
particular value of flashy trends.
You mean to say how education can play a role?
Is that the question?
Yep.
How education can play a role in demystifying Web3 concept?
Yep.
Okay.
So first of all, I think the first is is the local i've already said the local content
first people need to make a local content like in in in whatever language like so in any country
you have you know several so like in in country like ours ours is a very diverse country where you have so many languages being spoken.
Every 50, in India, they say that every 50 kilometer, you know, you have a different language,
you have a different way of eating, different way of living your life, your culture.
So in a country like ours, I mean, you need so many people making content in different languages so that at grassroots level, people can understand.
And that goes for any country who is listening to this.
The first thing is localized content.
And don't make content from a perspective that what I'm going to gain out of it. in order you know web 3 is something that we at times you need to work in this space for longer
period of time thinking that okay right now though my audience might be very small but in future if
i believe in this industry and this industry is going to be big so in future definitely the numbers
will come in today maybe you might put in more hard work and the numbers might fall later or
they might come later but that should not discourage you because ultimately you're working here
in this industry for a mission.
Here you need to find that self-motivation
to make the content in local language.
Second is that you need to be very practical.
You need to give demos, right?
So suppose if you want to make people aware
about a particular thing,
so you need to
show them a demonstration you know you need to give them a live demo of that maybe
how to use a stable coin how to use uh you know different platforms how to use different uh
applications right so so you need to give a demonstration of that and uh you you need to give a demonstration of that. And you need to also tell them about all these new concepts like RWA, D-PIN, DeFi, all these things.
But more important is that I always feel whenever I've communicated with people, I feel that you need to make people, because if somebody is a beginner,
with people i feel that you need to make people because if somebody is a beginner so you need to
make them first aware about why why bitcoin what is the history of money and then slowly bringing
them to victory but if people are not aware about the basics they are not aware about the public
blockchain ledgers distributed ledgers why we need it why it matters they won't they won't be able to connect uh here because most
of the people enter in this industry for making profit only that nothing wrong in that but you
can't make sustainable long-term profit without understanding this industry so first of all you
need to understand the basics bitcoin if if i've seen people who understand Bitcoin are much better in understanding Web3
later on. But if you start your journey with Web3 and you've not understood the ethos of this
industry, or if you've not understood the journey of cypherpunks or history of money and why this thing was needed
then i i've seen that people exiting a little early but if people have strong concepts clarity
of concepts they tend to remain in this industry for longer period of time a lot of hard work has
to go a lot of stuff needs to be done i congratulate finance for this as well
not because they've invited me on this space i'm a huge fan of finance academy
where i find i think it's a university in it where you guys have really demonstrated
finances demonstrated that how to learn uh in industry. If somebody is not visited till date,
please just go and visit Binance Academy.
And there you also have an option
of converting the content into different languages.
So you can convert the language
into your own local language and read the content.
So yeah, localization of content is very important.
Agree, 100% agree.
Because globally, English is not a global language.
Still lots of population need to be learned in their own language.
So definitely to channel the knowledge into different regions,
we have to go through their language and that's something
definitely we as a kind of blockchain also doing and i i believe you guys are also doing to educate
hindi speaking people in india and definitely that's something we need now and also in future so yeah the next question which
i believe aditya already answered and that's why i'm gonna keep these questions and
this is the next question which is also the last question of you guys. So the question is,
first one undervalued opportunity in Web3 economy,
whether in AI, RWS, DeFi or stablecoin,
that could save the next wave of innovation and why does it matter?
So I would like to learn both of your point of view one by one.
So Aditya can go first,
then after that, Kasi can have his point of view.
I missed the question.
I'm sorry your voice was breaking up.
Can you repeat it again, please?
Yeah, sure, sure.
What's one undervalued opportunity in the Web3 economy,
whether in AI, RWS, DeFi or stablecoin,
that could save the next wave of innovation
and why does it matter?
Next wave? I think next wave, the one that I'm really excited about and I feel like eventually it will happen, even right now, like nobody is talking much about it is the, I think gamifying, like the gaming sector, because gaming sector is very big and I myself used to play a lot of games when I was
young and I think we saw a fresh wave of tokenization of games a lot of games coming up
on blockchain with tokens which introduced us to play to earn right so I feel like that was
like in technology this always happens we have like chains first we
had the bitcoin bitcoin which introduced to us uh what crypto really stands for like how uh how you
can fight how you can keep your money safe how you can um like how you can get away from inflation so
it changed everything right but after that a lot of new chains came up like faster blockchains for different transaction blockchain that can support more applications on top of it. So I think same thing is happening with games.
in I think 2017.
So that was the first one.
And overall with time it evolved
and last one was like XZ Infinity.
So I think gaming sector
is something which is gonna go really big
and it will be an integration of
NFTs, metaverse
and crypto.
Yeah, so that is one thing I'm really
excited about. I think probably like in future
because I think Sony has also launched
its own blockchain. Sonium, I think that is what they plan to do like in future because i think sony has also launched launched its own
blockchain sonium i think that is what they plan to do like in future if you play a game you can
whatever assets that you earn in game or you keep maybe you can transfer it you can trade it on chain
you can sell it because people spend like hours and hours of time just playing these games and
collecting these assets even they sell it on the market but it's
like an online account which is controlled by the company so sometimes they can just block it and
remove it i think something similar happened with vitalik as well when he was playing some game
and something happened to him like his account got blocked and then he like he he was like more
fascinated about crypto so i think i think that is one rw is also very interesting but i think it's it's a very big
thing and it needs the involvement of all the governments and all the departments we already
have existing rules for everything and we already have existing departments which has legal framework
for everything we just need to move the same thing and put it on rwa so that you know if even
we have to make it real there are no scamters who's tried
to scam people and there's like a legal way to do it i think there's the next one and ai is
definitely there uh yeah so next maybe kashif can add more on this
yeah so thank you adiv you've covered everything. Just that the most undervalued opportunity in Web3, you cannot name one because AI is a big opportunity.
you know, we are seeing that AI ages are at the overall time low.
But if the AI is the future, if AI is going to grow in future,
we all believe that and we are all seeing that progressing.
So ultimately, once again, this particular narrative of AI,
and not just narrative, by the way, narrative is like
when you don't have something fundamental,
but there is just only, you you know headlines making all the noise but if we all believe that ai is going to progress
and we all know that ai is progressing recently we have seen it and like uh you know ai is
improving in terms of data quality in terms of the output right and in terms of its use case
data quality in terms of the output, right, and in terms of its use case.
So ultimately, you know, we are going to see that AI is definitely going to be the biggest
narrative of all time going forward as well, right?
I also believe that real world assets, you know, real world assets could unlock 10 trillion
US dollar in illiquid assets by 2030 and it's a bcg report
uh so making you know making all these illiquid assets uh you know accessible to real in retail
investors via fractional ownership so this is going to be really huge uh imagine suppose a
farmer in kenya could tokenize his land to secure a loan on chain.
So that is going to be massive.
It's like giving them an equal opportunity to bring, you know,
their assets on chain and where people can, you know,
own those assets, you know, fractional assets.
Obviously, there are challenges, as Adi said.
The biggest hurdle in real world assets where
nobody is really focusing if that thing is solved I'm telling you you know innovation is required
there people are yeah it's fine that people are building on top of narratives and projects are
coming and going and you know you are not even able to keep a track of when the project came
and when they are going today so today you know, the thing where real innovation is required is like solving the regulatory
hurdles, as Adi said, because, you know, ultimately, if suppose there is a land and if I own it
on chain and in case of dispute, I still has to go to court.
I still has to go to a physical court.
I need to hire a human being as a lawyer.
And then I need to visit the court premises to enforce my agreement that was done on-chain through a smart contract.
through a smart contract.
So enforceability is an issue.
Once we are able to solve that,
how to bring justice or how to bring court on chain
where even the justice, even the case is being solved on chain
through smart contracts in an automated way.
If we can bring enforce forcibility of law on
chain oh my god then this industry is going to explode then literally everything could be tokenized
like i mean from your stocks to us treasuries to real estate to lands to your cargo to everything
every single thing on this planet is an asset and all imagine all those commodities
if we can bring those commodities and then assets on chain imagine the world literally it's the world
will be like a level playing field and then you have this real world assets exploding like crazy
real world projects exploding like crazy but right right now, why they're not exploding?
Because obviously you have an issue
where you still need enforceability of law
through local jurisdictions.
So that is the real problem.
And I'm sure that will be solved in the future.
If that is solved, real world assets is going to explode.
But obviously that might take a time,
but immediately, instantly,
if I have to,
very bullish,
for me, number one is AI,
and obviously real world assets.
And AI will have a role
in real world assets as well.
Right?
So, yeah,
I think I'm really bullish
on both the aspects.
Let's see.
Perfect, perfect.
Yeah. Guys, this is definitely a very insightful information. let's see perfect yeah
this is definitely
a good insightful
information
so I
would like to
inform you guys
we just had
all of your
questions
you know
anyone
have any
questions from
the audience
side
can raise
their hand
I can
access them
to ask
a few
questions
and after that like two
three questions we can conclude conclude the call and clear the event so yeah
guys if you have any questions you guys can raise your hand or and request so I
can give you access to ask your questions.
So yeah, so yeah SAM04, I am giving you the access to ask your question.
Please accept and...
So, yeah, Sam, please unmute yourself and ask a question.
Hi. Hi. Sorry.
I was just listening to the conversation, right?
And obviously speaking about communities and stuff like that was really interesting. Because like, you
know, all obviously, BNB chain itself, how it's establishing
itself within the crypto space is amazing. And the growth itself,
what's happening, it's an amazing growth. And in terms of
education, which is really key, right? Because
there's going to be a lot of people onboarding from Web 2 to Web 3. So as in like, you know,
for myself, I've been on the space for many years. So I see myself as like educating other people
as well. So what BNB is doing as the academy itself i really really love this
but how can my question is how can bmb ecosystem help these other projects that have communities
that are building and they're looking for this support how can these communities go to bmb chain
and get that support yeah i think this question is to me so yes i'm
actually we have like a builder support program if you go our website bnb chain.org and you can scroll
all the way down and you can you'll see builder support program and the builder support program
you can unlock all the possible solution
that we are giving to our builders and support to our builders and if you have
already your MVP you can directly DM like me in telegram or maybe in in
Twitter where I can give connection to our RBD where you can pitch your project and can directly ask
all the support to our BD team. So yeah, this is something you can do and you can apply for.
That's great. Is it possible to maybe give me the Telegram link or something like that?
So then I can look for yourself and I can tag you because then that will be easier for me.
Yeah, it's a GTN Web3 in Telegram. You can find me.
Great. Thank you very much. Thank you very much for letting me ask you the question.
Really appreciate that.
So any next question guys?
So if not, if not, definitely we can end this call in this event now.
And before ending this event, I'd like to give some call to action to our audience,
which is basically in BNPChain.
We also have lots of solutions, lots of applications are building.
And to see what the game is building, what the AI solution is building in BNPChain,
in BNB chain, you can guys go and check out dabbear.bnbchain.org, which is basically the
you can guys go and check out dabbay.bnpchain.org,
app store of BNB chain listing all the live product, live project building on OPBNB and
BSE to, you know, help people to navigate inside the BNB chain. And thanks again to our student speaker having a grateful, insightful EMA and Twitter space.
And definitely this EMA helped to learn lots of insights related to global as well as Indian
prospective. so yeah and in related to the invention which is theoretical which is already in
the BNB chain and definitely I am looking forward and have lots of
collaboration in future to increase the adoption as well education
inside India yeah and thanks again thanks again everyone for joining the
Twitter space and making this
Twitter space successful. Yeah. Do you guys have any outro before leaving the event?
No, thank you so much for having us. It was a great session and thank you so much.
Yeah. Actually, I really enjoyed all of the insightful information and you guys have answered really well.
Thank you, Vanima. Thank you very much.
