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From Wall Street to Blockchain: The $10T Asset Migration Has Begun
Recorded: April 16, 2025 Duration: 1:10:12Space Recording
Short Summary
The crypto community is buzzing with excitement as discussions unfold around the $10 trillion asset migration from traditional finance to blockchain. Key players from various projects, including Arise, Althea, and Accumulate, are unveiling innovative solutions and partnerships aimed at revolutionizing asset management and tokenization, while the industry anticipates significant regulatory clarity that could drive mainstream adoption.
Full Transcription
you Thank you. oh Oh so Oh, yeah! One, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, one, two, three, oh
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Today we're going to talk about from Wall Street to blockchain, the $10 trillion asset migration has begun.
Pretty big question, pretty big topic to talk about.
That's why we got some awesome companies joining us today super stoked to have them and as we wait for a few speakers to join us let's just
have a little chat what's going on today guys Alex from Daffy one what's up man
where you calling from hey there yeah it's been a while you just create um in asia actually so it's quite late but i was
hyped up for these spaces cannot miss if there's a possibility to join so thanks for the invite
nice brother it's been it's been a while pleasure to have you again nice yeah i was in the grid for
a while but you know we continue to build we have uh daily posts on twitter and linkedin other socials
so you know uh bull bureau market or kangaroo market as they say uh doesn't matter i keep pushing
yeah you never you never know what this market love it man keep on building you guys are awesome
thanks for coming brother um and stable sensei uh that's how I know you, man.
What's up?
Hey, man.
Pleasure to meet you.
No, my name is Robbie.
Stable Sensei is also my love of name.
No, I'm coming from Marais, calling from Denmark.
Pleasure to be here.
Looking forward to the question.
Yeah, yeah.
Nice to chat, man.
We've been in contact with each other
for the past couple months and i think this is the first time that we've actually met on the
space is that right is that right it is it is before it's been my the founders uh our ceo and
and today i had the pleasure to be to be amazing brother well nice to meet you officially pleasure
um and deborah deborah's
another familiar face that i haven't seen in a while what's up deborah how's it going
hey thanks so much for having me um great to be here uh calling in from farm in oregon actually
this is home for me so um it's morning time here appreciate being on the call very nice well good
morning pleasure to have you hopefully you have a have a little coffee i have coffee i'm sitting outside
in the sun right now so it feels super good oh amazing yes yes well pleasure deborah
thanks so much for coming um and also khalid another familiar face what's up khalid how's it
going everyone thank you for the invitation uh actually, I'm in Asia as well, like that one.
So yeah, midnight, midnight almost here, but all good. I need to stay awake from the shaky market today with Powell.
Gotcha. Yeah, we just never know. We got to be on our toes no matter what time it is.
So thank you so much for coming, man.
Appreciate it.
And Jay Smith from Accumulate.
What's up, man?
How's it going?
Hey, good morning.
Sitting here in sunny Vincennes, Indiana in the heart of the Midwest.
And I'm looking forward to this.
This is a great topic.
I'm sitting watching about a dozen squirrels outside my office window.
It's that time of year.
Oh, there's nothing better than the
Midwest at this time
of the year. I think
it's starting to
be mushroom hunting season,
if I'm not mistaken.
Morales.
The morales are just incredibly good.
I wish they had it and they had them here in Vegas.
But unfortunately, they charge for one morel at the restaurant's about $100.
They're dry there for mushrooms.
Yeah, a little bit.
Maybe you can send me some UPS if you find too many.
But that's never the case.
Awesome, awesome.
Thank you so much, everybody, for coming.
Just having a pleasant trip as we have speakers joining us.
So today we're going to talk about from Wall Street to blockchain, the $10 trillion asset
migration has begun.
It's kind of like the elephant in the room.
You know, we've been talking about
bringing assets on chain, bringing liquidity on chain from Web2, and the mainstream doesn't
really talk about it too much. So this is exactly why we brought these guys here. They're building
these kind of things. They have the information. They're here to give us the insider info,
and that's exactly what we're going to get today. So before we get into that, we do have a $25 USDT giveaway. And actually, I need to pin it to the top. And let me pin
the space here. And of course, you guys must like, retweet and comment a question.
And then you must be in the space to have a chance to win. There'll be two winners,
$25 USDT each. We'll pick a winner throughout the space. And then after the space, I will tag your name in the comments. You reply with
the wallet address. We send you the funds. Boom. Done. Super easy. Super quick. So enough
about all that. Let's get into all the good stuff that we have to talk about today. Let's
go around the room. Let's meet the speakers. I know we just had a little pleasantry, like
I said, but let's get an intro from them. Let's hear what they're building, all that good stuff. So Ravi from Arise, if you could
give us a little bit of information about Arise, that'd be awesome, man. Yeah, of course, man. Thank
you. Yeah, at Arise, we're building stablecoins. We're focusing on building compliant, fully backed stablecoins.
We actually build the infrastructure for businesses
so they can launch and scale their own brand of stablecoins
and make it easy to use a stablecoin today.
Love it, love it.
Yeah, that's a dire need, a key piece to bridging this liquidity.
So thank you so much, man.
And Khalid from M55.
Please, man, go ahead.
Yeah.
So I've been in the space in Asia for maybe like 12 years this year.
We started with SEX,
the first regulated exchange in Hong Kong, 2014,
then moved to the investment side, primary,
and since two years and a half, almost three,
we moved from a multi to a multi-strategy fund.
So now it's called M55, it's a new entity.
So we do primary, early stage.
We do brokerage for semi liquid assets and we do a lot
of uh quantitative trading awesome man so so glad to have you thank you so much for coming
um and alex from daffy one please man go ahead
yeah thanks it's been a while and uh jaffy one is actually stands for uh decentralized autonomous
fictionalist finance and we had previously this account under the name of daffy wallet but we
always had a bigger vision there's just a wallet right it'll start with a wallet it's a platform
account to account blockchain platform fee is free so it's
designed for merchants kind of creators on banks and you know general like non-crypti uses so it
supports 20 blockchains right now let's build around the versatile wallet you have first non-custodial
security with separate seed phrases for each new blockchain added with nfts decentralized identities all
the Chinese stuff with uh like very secure authentication features but core thing is
is to empower people to use their crypto and stable coins daily life right people face a
lot of challenges those days I mean World Bank says says there's like 1.7 billion of unbanked people,
but the reality is like probably four, right?
So the majority of the global population outside the major country is the unbanked.
And with upcoming features like we have the second milestone outside the wallet,
as DAFI won't pay, it will enable merchants globally,
naturally in the web
free to actually tap into that and experience seamless cross-chain transactions fees free
like we don't charge additional like there's a blockchain fees right we don't have any piece on
top of that and we have parallel solutions for enterprises in the pipeline debit cards virtual
physical for global spending ticketing
system event management system so say you live in africa you want to come to the united states and
visit like a tillus with concert you will be able to pay for that using daffi wallet you will be able
to pay for your trip for your car expenses like taxi all that so tapping into a real world with web free assets is basically a mission
to empower and bank that hadn't said way too much and way too well progress has been made
so our goal is to make blockchain technologies not just a password but practical thing end of the day. Thank you. Amazing, Alex. Love it. Thanks for coming in.
And Deborah from Althea, please, a little bit about you guys.
Yeah, thanks so much for having me. Althea is a machine-to-machine payment system for utilities,
telecom, infrastructure, and energy. So typically in the telecom space,
and we have an RWA product called liquid infrastructure, which tokenizes those revenue
streams, those machine to machine payments, like that's coming from like things like fiber optic
cables, radio towers, and then, you know, it can aggregate and fractionalize this. And you can then take and
buy and sell these assets, becomes liquid, and the streaming revenues come along with it. So
we've been doing this now for, we've been starting building since 2017, have networks across the US
and built in four different countries, you know, primarily in the telecom space, building 5G, fiber optic, you know, hardware agnostic telecom networks using this
payment platform and now have been tokenizing the assets over the last couple of years and now
finally launched a specific L1, which is an EVM hybrid, uh, with Cosmos SDK, similar to kind of like a
bear chain or a story and able to, in order to like, kind of take that to the next level
and really scale it.
So we're really exciting.
I watched somebody the other day buy some of their first assets on liquid.althea.net
trading the, uh, seeing the, the revenue kind of coming in from these real networks where
people were using this payment infrastructure to have home internet.
And actually, there's a couple of really kind of cool features about how we do routing and choices and how your traffic is navigated through the internet performance.
And then, you know, sort of paying for your choice of cost or latency, which is really kind of cool under the hood as well.
But yeah, super excited to be here and talk a little bit more about what we do.
Like you said, there's a 10 trillion asset migration. In fact, there's $2 trillion in
booked assets in just the top 30 telcos in the world alone that are sort of stuck and siloed in this rigid, you know, trad fi ecosystem that are probably even
worth have like a depreciation and worth because they are illiquid. So we're really excited to
start bringing those on chain and to see to open up that ecosystem to more people.
up that ecosystem to more people.
Okay.
Okay.
Thank you so much for coming.
Love having you.
Althea is just building like crazy, cooking it up.
Thank you so much.
And Jay from Accumulate, please, Jay.
Yeah.
So hi, I'm Jay Smith, the chairman of the governance council for Accumulate.
And we're building the technology that's,
well, in fact, we have built,
and we've been building it since 2015,
the technology that's going to enable
the next level of tokenization.
Right now, we're just starting,
and there's a lot of limitations that the industry is just starting to see. it's a smart contract and because smart contracts keep their data inside the contract
your asset can only really exist in one place at a time and since the point to tokenization the
whole point the reason we do this that we all being used now really only allows you to access
the liquidity on one marketplace on one chain at a time and as long as you're doing small projects
that's probably okay but we're looking to the future where we're going to be tokenizing not a project, but portfolios of projects, hundreds of millions of dollars. And the liquidity is just not there that way. So what we do is allow projects, other projects, and we're agnostic. Our chain works with all the other chains, but any other project to build tokens that can exist in more
than one place at a time. So that when I'm, as an asset owner, I can put my asset on marketplace A
and marketplace B on Polygon, marketplace C over there on Avalanche, marketplace D on solano and so on and so forth to access the level of of of liquidity that we need and then
the this the second big thing that we're doing is providing the governance that's going to be needed
um right now the the you don't work you're you're gonna need powerful multi-sig in order to govern these assets and the the multi-sig
available right now with the abstract account as they're done is is number one very weak and as the
recent 1.4 billion dollar hack at uh bybit a few weeks ago demonstrates a little risky.
And so we give the tools to have the kind of multi-sig
deep governance that you need around your assets
and eliminate the attack surfaces
that like were used for that recent hack.
And so just kind of in conclusion, what we're doing is we're building all the tools
that are going to be needed for, and all these other builders here, we're hoping to work with
them to take us to this next generation where it truly is trillions of dollars of assets.
generation where it truly is trillions of dollars of assets.
Amazing, Jay.
And for all those that aren't familiar with Accumulate, they have been literally building
this infrastructure that's going to help this exact thing, trillions of dollars of assets
move over.
So go check them out.
Thank you so much, Jay.
Appreciate you.
And Aroko, Aroka, pardon me, please, man, a little bit about you guys.
Thank you for having me today.
Yeah, it's Aroka.
I'm Michael, the president and co-founder.
We are literally breaking the wall between Tradeify and DeFi by bringing NASDAQ to DEXs, so S&P, Tesla, Amazon, MicroStrategy,
et cetera, on Aerodrome, GMX, Helix, Hyperliquid, et cetera. And what we do, which is different from
every other attempt until today, which was literally delisted from the DEXs, is a new
regulation in the EU, which is called Asset Reference Token. It is literally a new asset
class introduced in January this year. And it allows to wrap a single stock bond or ETF or a
basket of them and bring them under the MICA regulation and not under MIFID
as a non-security. And so they have full representation. They have 102% backing.
So we literally go and buy S&Ps, hold them in a regulated European bank, and then mint a token
that is backed by that asset. And it's a permissionless CRC20.
You could buy, sell it on the DEXs anytime, 24-7.
And there's so much more details I'd love to share,
but I don't want to take more time right now.
So I'd love to hear your opinions.
And Jay, we have a lot to talk about interoperability and cross-chain liquidity.
I've been looking into this deeply. I have a lot to talk about interoperability and cross-chain liquidity. I've been looking into this deeply.
I have a lot of questions.
Would love to ask how a token can exist at two places at one time.
I have a few ideas, but would love to hear you because you for sure know better than me.
Nice, man. Pleasure to meet you, Michael.
Thank you so much for coming, man.
Excited to learn more about what you guys are building.
Absolutely.
And I think I covered everybody.
And Fundy Labs, we've had you before.
I'm not sure if you were on this one, but I've had you before.
I love having you guys.
But we do have a very full panel.
So if you want to get into the conversation, whenever we do start asking the questions, you can just raise your hand and join us as well.
So thank you so much, everybody, for coming.
Really, really appreciate everybody and listening and supporting this space.
We do have a $50 USDT giveaway.
And you must be in the space.
And also the chances will go way up for you if you start sharing the space.
So let's share the space. Let's get this out. This is a powerful topic. This topic
really needs to be talked about more. And so without further ado, guys, let's get into it.
So we're going to talk about the trillion dollar shift happening right now. Everybody,
you know, we're hearing about it. We don't hear a lot about it
in the mainstream. So the question is, you know, why are these institutions quietly, you know,
building this infrastructure in the background? Why do we not hear all this? So, you know, we hear
about BlackRock, we hear about Fidelity, JP Morgan, you know, all these major players. And they're all actively building these
blockchain based infrastructure, right? But we don't hear a lot of the mainstream media talking
about it. So is the trillion dollar shift really happening right now? And why isn't it being talked about in the mainstream more often
and i mean this this question right here um you know there's so many web2 individuals
that probably are like you know we're just not we just aren't really thinking about you know
web3 and all these different things. And they don't really
take it seriously because these big institutions are really pushing and pushing this information
out in the in the mainstream. So why do you guys think that the mainstream is not talking about
this massive shift from, you know, traditional assets being introduced into the blockchain?
What is this major reason? Yes, Jay, please.
Well, I think one of the reasons is if you look at what most of the institutional players
are doing, they're building on blockchain, yes, but most of it is built on private blockchains.
And so it's kind of behind the curtains and this is going to be really
interesting because you know any of the institutional players want to maintain control
sometimes for regulatory reasons like deposit tokens represent a bank account bank deposit
and so it kind of has to be a private blockchain maybe
uh or at least that's that's what they're claiming but uh since this is happening behind the curtains
um it's not really getting the attention a lot of times of the the mainstream press and the the
institutional players tend to be a little behind the curtain themselves anyway, because if you make too much of it public, then their rent-seeking position gets eroded. to extract the the money that they do out of the system is because there's an information asymmetry
that was one of the reasons for blockchain was to to smash that information um asymmetry and
most of the bigger players really don't want that that to happen so yeah they don't want that to happen. So, no, they don't want to talk about it. Sure, I mean, and it seems like it's, you know,
they're being so quiet about it, they don't want us,
I mean, they don't want us to know about it.
Therefore, they just are building, building, building,
and we have to do our own.
Yeah, they want the advantages, but not,
they want the advantages, but for themselves,
not for anybody else.
Sure, sure. Yes, not for anybody else. Sure. Sure. Yes, Deborah, please.
Yeah, appreciate it.
So I'm just echoing a bit of Jay's sentiment here as well,
but also adding that most of these players are very risk averse.
And whether we like it or not,
our industry and blockchain has not done a very good job about
mitigating and robustness in engineering on the blockchain side of things, right?
So I think that once we have an opportunity to go through set industry standards and expectations
and prove a certain amount of reliability, then of course, you know, there can be more
openness. But it's sort of that age old, like no one gets fired for choosing, you know, Microsoft
or the typical incumbent, but you might get fired. You might end up having a hard time if you choose
a riskier, you know, riskier asset class. So I think that we all can, you know, collectively in this industry promote by simply
holding each other to a standard of reliability, robustness, engineering, you know, maybe forming
some of these industry groups to peer review. And I think that will go a long way to creating
environment where both institutional players and the general public can participate
in this market without risk. So that's kind of my two cents on this subject.
Sure. And you kind of brought up a few things as jaded as well with the centralization of it all.
You know, it's not about, we're building building this infrastructure already but it seems like they're trying to build
something separately
and not conjoin
which is interesting.
Yes, Ravi.
Yeah, hey, hi.
I think I'm mostly agreeing with
both of you guys. I think
what we see
is a little bit different
that isn't been talking about it
in the mainstream
because it's not the individuals
that's really going to use it.
I think it's because it's the business.
We believe that we've seen
it being talking about it
much more than we started
back in 2017.
Talking about stablecoins today isn't hard like it was five years ago.
And I think it will start silently.
I believe we believe that it will start with the businesses.
And as the adoption is growing, we will see more people talking about it.
We will see the people talking about it we will see the mainstream talking about it
but like from my personal perspective when i started in the crypto and blockchain for three
years ago it was literally only talking about getting the 1000 and how to get rich with crypto
and i don't think that the mainstream really believe in that. While the businesses are seeing the benefits
with blockchain, the speed and the security, I still believe
that the individuals are still seeing it as a scam.
It is very risky
for the people that haven't been building
these institutions that are just now.
I mean, they've known about this for a long time, but it's just a matter of timing and having, you know,
the right information and the right setup, you know, for the public, of course.
Yes, Fundy Labs.
Fundy Labs, did you have something to say? If not, no problem.
So there's a, oh yes, go ahead.
Yes, this is RJ from Funni Labs. From my perspective,
this industry was a major threat to major institutions originally. And we've seen the pushback over the years. And at this point,
they've lost that fight. And at this point, they've lost that fight.
And at this point, it's been a level playing field for everyone.
And being a public blockchain, you almost have to build in public in order to have some type of leverage and competitive advantage to not show your hand.
And I believe that a lot of big players are building in private because they don't want to show their hand until, of course, they want to distribute.
I'm sure when BlackRock is finished accumulating and prices are much higher, we'll start hearing about a lot of things that have been being built as a lot of big players.
Once it's mainstream, it's going to want to show their hand and what potentially we could do and what they've been building.
I think it's one of those things where it's like the bear market where everyone's building in silent and then whenever the times
get excited again, that's when all the announcers are going to come out.
Right, right. I agree with that. Will they allow us to be a part of different private, you know, sales or will we be able to be a part of that whenever it's brand new
kind of thing? Yes, Alex from Daffy One.
Yeah, there's a great point about the beer market. I mean, Daffy One has been slowly building for
like four years now i joined the
team last year but you know they kept building throughout the cycles right like in the stealth
mode because this very account had only 1 000 followers until last september when we started
marketing yeah so when it comes to institutions the process is pretty much the same. Institutions are tokenizing everything, I guess,
dipping their toes to real estate bonds,
maybe even your grandma's pension,
but nobody's shouting about it because it's not sexy.
I mean, there's like viral TikTok videos of tokenized bond doing a backflip.
Instead, there's like a bunch of suits in the boardrooms
whispering about your C c20s or
mineral water I don't know so black rocks and other companies like high profile they'll drop
those billion dollar funds in the theorem but somehow the new cycle still prefers talking about
celebrity rock pools all that stuff so they're not exactly hiring influencers to promote it and let's be real saying on chain
settlement efficiency doesn't hit like to the moon institutions also don't want to tip their hand like
the front running like shift it's their job right tokenization is the most boring trillion dollar
revolution you will ever miss so by the time the media catches on wall street will already be on chain
and maybe I don't know where the hood is like it was in 2017 when I joined the space
so bottom line is you know you have to read between the lines right because the trend
might be in a stealth mode until it's too late for you to join.
If you are an investor or a builder, so you have to be smart.
You have to be in space for years to actually start seeing the trends before it's too late, whether for good or bad.
Yeah, that's my five cents on that.
Nice, man. Love it.
Oh, did somebody else have something?
Oh, I thought I heard a voice.
I think Jay had his hand up.
Jay, did you still want to contribute?
You don't have to if you pulled your hand down.
Yeah, no.
Well, this whole private chain trying to keep us out has actually been one of our biggest sources of customers.
been one of our biggest sources of customers because if you look at the price, like, for example,
JP Morgan's Onyx Chain, where they've got their customers have their deposits tokenized,
but because it's a private chain and they want to go buy an asset on um uh you know fundalabs chain
or uh on polygon or anything else uh because these deposit tokens can't be bridged uh for
regulatory reasons you know jp morgan is saying well you need to bring all, you know, we need to bring the entire world into our chain and we'll just be a great place.
And so we're we have solutions that allow cross chain delivery versus payment so that it all happens as one atomic unit.
And so we can get around this bridging uh but it it's really interesting because we're
talking to some of the bank clients um and they're actually pissed because they've got the bank
telling them okay you're telling me where I can spend my money basically because since they can't move those deposits off those chains and so that's this
creating some both amusing stories for us and creating clients. Wow love the point where there
will be some massive runoff then that might not be a good term for it,
but maybe a lot of the institutional players
will go with the Fidelity blockchain or whatever that is.
But then there will be so many offshoots
and ease of liquidity to jump over
and take advantage of another potential, you know,
financial decision or something with Accumulo. That's very interesting. Michael from Maroka,
please. Oh, we can't hear you, man. I'm not sure if it's me.
It might be me.
Sometimes Twitter can be a little bit buggy.
If you're trying to talk, man, we cannot hear you.
I can't hear you anyways.
Can you guys hear Michael?
No, I can't hear him.
Okay.
Okay.
Michael, we can't hear you, brother.
So sorry. If you could drop off and come
back on that'd be awesome I'm not sure if anybody had their hands up no okay
perfect so I'm gonna I'm actually gonna jump through a couple questions I want
to get to this part because this kind of plugs into what we're talking about I
think it's really important for us to understand it is it is it it or is it going to be completely centralized or is decentralization
still going to survive past uh all these massive institutional players um you know kind of building
their own blockchain oh here we go let me bring him back up and he might have a good.
And Michael, we'll get to you here in a second.
There we go, we got you up.
Deborah, please, and then we'll go to Michael.
Yeah, I just wanted to chat a little bit
about decentralization in the RWA space in general.
And one of the things I think that's kind of interesting
that's happening in blockchain in general is that we are losing a lot of decentralization core principles, but not only
in the application layer, but certainly also in the operational set. We're seeing it in mining
and proof of stake networks where operators are becoming commoditized and losing that agency and
governance. And so, you know, I think where we have to kind of start
shifting that back is kind of going back
to those original principles of allowing
and enabling those permissionless networks
to provide some agency even down at that structural level.
You know, you see centralized sequencers, you know,
so if you have like these kind of core primitives
that aren't decentralized, you know,
it then becomes much more difficult to argue
for decentralization at the edges.
But it is this decentralization that gives resiliency
to these platforms and gives that failover in real world.
These are real world assets.
You need that reliability.
So what we find in any kind of centralization
is brittleness, right?
And brittleness is fragile and fragility.
So in my opinion, while you can have centralized systems
for a short amount of time and trustless
and trustful systems for a short amount of time, we will see a migration
to decentralization over the long term as those as there's just sort of a natural survival
of the fittest, maybe in that decentral it brings resiliency, especially as we see a very,
you know, segmented world, you know, in terms of just geopolitical space as well. And real world
assets are not bound by the confines of nations as well. So these are things that can be traded
globally and lend themselves to a global market. And with true decentralizations, we can create
that together.
So I'm a true believer, got into blockchain,
mining Bitcoin on a GPU a million years ago.
And I think that, you know,
while we may have diverted down a centralization
and custodial path for a short time,
those things are brittle and fragile.
This is the reason why we created better systems
because we see a better world on the other side of it. So I am all for bringing it back and happy to be part of the
revolution with y'all. I love that. You're right. I think that we'll go through just like the market
that we're experiencing, a little roller coaster of different adoptions and what the community truly accepts.
You know, we all want decentralization.
We all want to be in complete control of what we're doing.
But there will be shifts in how that actually happens.
And I love your point, Debra.
I love that.
Michael, I think you had your hand up.
Go ahead, man.
You want to jump back in here.
Yeah, thanks a lot. Can you hear me right now?
I can hear you. Perfect. Thank you.
Oh, fantastic. Okay, so I'll touch, if I may, two points.
First of all, about centralization, decentralization.
Everybody here, I suppose, has USDT, USDC in their wallet,
and therefore we're all using very very centralized products which are
actually our WA's and they actually literally are a trust play which we must trust Paolo and Circle
and all of these companies that they really have our backing assets and that USDT, USDC,
whatever stablecoin is actually worth what it's supposed to be. So in that sense, we are bringing in proof
of reserve and more transparency to the ecosystem and 100% or 102% backing. So in that sense,
that's my touch point. The second thing, and we know that working with one single bank is a
problem. Working with five single banks is a problem, but less of a problem. And I'll ask you honestly, what on blockchain today? So many people talk about decentralization. What on blockchain except for Bitcoin, which even there have factions of miners and pools, which control a lot of the ecosystem. And, you know, Ethereum is really, I don't know if it's really decentralized
as such. Other chains, I doubt it, heavily doubt it. So what is really decentralized these days?
I love torrent, but, you know, we have got a way to go. The other thing I wanted to touch
was banks. Banks don't do anything they don't have to do or others do, or they're losing
money somewhere. So banks and banks will never, you know, give Alice and Bob and me and you
participation in their things. And the reason that they've been doing the private blockchains
is that, you know, we have all spoken about this, this blockchain thing. It's criminal and who knows what's going on there, even though cash is literally traceless
and anything on the block is traceable.
So what are they talking about?
So they're slowly understanding that, but not because they want to, because they have
While adoption is growing on both sides, they have to play the game so they don't lose
money.
That's my take.
Interesting takes, man.
Are we really in decentralization right now?
Maybe not.
Who knows?
That's a whole other ballgame.
That's a great question.
Jay, please.
So your point about the cash is so true in that a few years ago we had the task force
in the FBI that was responsible for dealing with cryptocurrency crimes in our offices
for a couple of days.
They were basically wanting to get
briefed on a lot of stuff and one of the things that they said numerous times is they're just
constantly doing face palms when um our our legislators are regular we're at least at the
time i think they still are we were regularly going on about the problem,
the crypto was such a nest of criminality.
And they were going, we love it when the criminals use Bitcoin
because we can trace it.
And it was, and then on decentralization,
one of the things,
and I was thinking about this a minute ago,
even though the banks really would like to
and have regulatory reasons
to create centralized systems
like the JP Morgan
and nearly all of them have them. We have the
tools, we as in our industry to deal with that in that there are some limitations of
the smart contract model, but we that that, for example, make it difficult to do cross
chain things. But we have the way the
means to get around those um and i i think this industry is in the next two or three years um
is basically going to absorb those networks so that they're still they they you know the jp
morgan onyx network is still a private network but it's fully connected with the rest of the world.
And this is coming pretty quickly.
Time is of the essence, guys.
You better get on your P's and Q's.
You better get on it because it's here.
And one or two years is going to be gone so quick.
So, all right, let me take one second find somebody in the
giveaway I've already found somebody it's mortal hot pizza 54 life is a
simulation but crypto is the truth adventures love it man thank you so much
for listening and supporting our space we really appreciate you let me just go
ahead and take a screenshot and that way I can tag you in the comments out of the
space and then you
just reply with your wallet address the funds will be sent on Arbitrum thank you
so much man appreciate you let's get back let's get back into it guys we do
have one more giveaway we do have about 14 more minutes so we had shared the
space mortal did share the space that's why he won so share the space let's get
it out what we're talking about Let's get back into it.
So we have all these different infrastructures that are being built in the background.
It's very silent.
These guys want to build this, exclude the private investors, and make sure to accumulate
as much as they possibly can, just like they always have done.
But we have infrastructure.
We've been building it for the longest time, and we're all going to benefit. It's just a matter of how and when. that is best positioned to capture all this institutional liquidity that is being dumped
into these new networks that are being built right now.
So the question is, what chain is the majority of the liquidity going to go to?
Is it going to be Ethereum? Is it going to be Solana? Is it going to be L2s? AKA Ethereum.
which one guys, do you
guys have any thoughts on that?
And you guys don't have to have any thoughts. It's perfectly fine.
Yes, Fundy Labs, please.
I believe it's going to be Ethereum
whether it's through layer
one Ethereum or it's layer twos like
base. I think even through the hard times,
base has had parabolic growth and they're partnered with Coinbase.
You can send USDC for free.
I think when it comes to the layer two war,
I think base is probably going to be the main winner.
Even the fact that it uses Ethereum as its base currency versus all the layer
twos trying to use their own cryptocurrency.
It's going to be a net gain for the entire Ethereum ecosystem.
And everyone, especially in the United States, the main exchange,
the only public traded one in the country is Coinbase.
And they're betting heavily on Ethereum with their Layer 2 that's also growing.
So I believe that base along with Ethereum
is going to be the major winner.
And I think BlackRock's making that bet too.
Interesting.
Contrary to the narrative in the crypto realm
of everyone thinking that ETH is kind of going by the wayside,
that's what they want us to think.
Deborah, please.
Yeah, I appreciate it.
I think perhaps that maybe is a false dichotomy
in many ways, right?
Because obviously what we're really trying to do
is bring money from the traditional world on chain, right?
And there are many different cash flows
and places where it could go, right?
I think there are purposes for a generic purpose
chains like Solana and ETH, you know, and I think that we'll also see a lot of, uh, special purpose,
like, you know, you have, you know, plume and peak, you know, Althea is built just for, you know,
telecom and energy. And, um, this will be a net benefit for all, right. So things kind of move
into Althea chain that's interoperableable of course, across ETH and Solana.
And so I don't think it, you know,
just like many different banks, it doesn't really,
the effect of one chain having more liquidity
than the other is probably a bit of a moot point
as we move to a more interoperable and inter chain world.
And I also think that generic purpose chains may not be the big winners here
as you need kind of a purpose-built set.
Like one of the things that when we looked at Althea
in terms of what we needed in terms of chain
was a bit different than a generic chain could provide,
whether that's Ether Salon or Avalanche or whatever. We needed specific block configurability. We needed a
certain kind of batching and reliability that just couldn't be had even on a layer two interface.
So I think we might find some surprises here and that actually this dichotomy between general
purpose chains isn't really the story. The story is in fact that we're moving, you know, liquidity from
a tradfire world on chain, but it might go to, you know, be bifurcated across a bunch of different
purpose built and then interoperated across the landscape, which I think is exciting.
That is exciting. So lots of new infrastructure must be, is being built for that, I'm sure.
So keep your eyes peeled, guys. And did somebody else have their hand up? I'm not sure.
Maybe you guys didn't. So we're just not sure, you know, what chain, you know, all this liquidity.
But that kind of goes into the next question. What can we handle like right now? Can we handle ten trillion dollars of inflow of liquidity?
Is is that something that our infrastructure is prepared to handle?
Like is is is that is that a relevant question?
I mean, like that's seriously like I have no idea.
Ten trillion dollars is so much money.
Can these networks that we have built, can they handle this kind of money flowing in and out daily?
You know, millions or if not billions of transactions, you know, every day, every week, every month.
So can our networks and this is like this is just like a very yes,
maybe a yes or no question.
Just for example,
would Accumulate be able to handle
$10 trillion of assets?
And I know every single,
there's not going to be one chain
that's going to get all the liquidity all at once.
It could be, who knows. But can we handle that? Yes, Jake.
I have a couple of answers to that. One, a direct answer, you know, there's a kind of
corollary when you're talking about trillions of dollars, you're talking about vast numbers of transactions. And that was kind of one of the points to accumulate.
The name comes from accumulate validator infrastructure.
And we're designed to accumulate as unusual in the blockchain world,
in that our ability to handle transactions scales linearly
with the number of nodes we have in the network.
Unlike, you know, for Ethereum, no matter how many nodes they add,
they're still going to do 27 transactions a second.
And we made some significant design changes
or different design choices to do that.
But another part of
the question is that there there is a fundamental stumbling block built into the present network
that when when paul snow was creating the key or when he was involved he was part of the team our
founder was part of the team that created Ethereum. And like most first generation things,
there were some compromises made.
And one of the big compromises was that they smashed the application layer
and the data layer together in one layer.
And the big computer science things here, but the bottom line is that creates a lot of
limitations. It's, for example, why you can't have tokens secure, you know, real asset tokens
that exist in more than one place at a time, even though the whole point is liquidity,
but we can only put the token on one marketplace at a time and access the liquidity of one marketplace at a time.
So there's all kinds of limitations like this that are structural.
accumulate as a blockchain data layer designed to specifically address this and work as a data layer
under all these application layer smart contract platforms to allow us to do the basic computer
science 101 best practices of ways to build systems that can be scaled. And you have to do it with an application layer and a data layer.
So, yes, we absolutely can handle it,
but we are going to have to make some changes in how we build systems.
Awesome, man.
And originally, you know, whenever I asked the question,
can $10 trillion of assets come on chain?
Can we handle this load?
Can you imagine this amount of money just flowing into Ethereum?
It would be like the gas would be like a million dollars to make a transaction kind of thing.
You know, we've all experienced that on ETH,
but the infrastructure that's being built in the background,
the ones that you're not hearing about too much,
it's just, there's a lot out there, guys.
And Debra, did you have your hand up?
If you took it down, that's fine.
I did, and I'll make it brief, too.
I know we're kind of coming up to the hour here.
But, yeah, to the point, I think this is where the purpose-built chains for RWA kind of come in, right?
So, like you said, can you imagine what would happen on ETH?
Well, ETH is a generic purpose chain, right?
Maybe not sort of meant for this sort of environment.
But what's interesting is I think we have so optimized
for TPS that we've sort of ignored the elephant in the room
of actually looking to our clients
and what do they really need.
And in the RWA space, I don't think it's TPS, right?
There's a lot of different ways to handle batching
and prioritization of the space.
And, you know, there's a lot of different ways
to process a lot of transactions at once.
But we've, we've sort of ignored the other, the other issue with infrastructure is reliability.
Many of the chains, you know, we take an RPC down, the whole chain goes down, they're so TPS
locked that, you know, you have latency sensitivity, got the entire blockchain and the Hetzner data center, right?
So yes, I think our infrastructure can handle it, but I do think this is a great opportunity
for the industry as a whole, especially in the RWA space to focus in on what our customer
set and what the user set really needs, which is reliability, configurability,
that really needs, which is reliability, configurability, you know, and some versatility
in how we process a transaction. And I think it even changes a bit between real estate,
treasury notes, and like where we're at in telecom. So appreciate the opportunity.
Awesome. And it sounds like TradeFi, it's impossible for TradeFi to truly take over DeFi.
There's no way. DeFi is a needed piece of infrastructure that they will not be able to fulfill.
Like they can't fulfill all of the needs that Debra was just speaking about.
I completely agree. Fundy Labs, please.
I completely agree.
Fundy Labs, please.
Yes, just to add to that,
I feel like there's only been a few blockchains
who have really been low tested to their limits
to see how many transactions they can handle.
And I would say, for example,
it's been Solana at one point.
They have a very quick transaction speed,
but we can all count on two hands
to the amount of times that it's
reached its peak limit and has gone down.
And even with Ethereum, we've seen it get load tested, we'll say in 2021 when the gas
fees were outrageous, but we haven't really seen Ethereum get load tested ever since it's
had roll-ups in all these layer twos to see if it could actually scale.
That was like one of the main things that Ethereum was aiming to fix with all
their upgrades over the last few years is scaling, resolving the gas fees.
And I feel like Ethereum really hasn't had one of those moments where it could
really retest the load to see if it can really handle that 10 trillion of
inflows.
Sure.
Sure.
Yeah.
I mean, we, we, we haven't, you know, we haven't been able to test
that kind of thing. So we never know until it actually happens. Let's just let's let's watch
it happen and see what happens. So going forward, guys, 2025, 2026, let's know, let's not go past
that. It's, you know, the space moves so fast we've got a couple more minutes
we do have one more giveaway
go ahead and share the space guys
what is your two year prediction
for this space
and how can we all
prepare and
front run this massive
shift
this arguably is the largest
opportunity
the history of the world has ever seen monetarily.
So and there might there might have been like different different events throughout the throughout this time.
But truly, the infrastructure, the technology there other than, you know, maybe I'm not sure.
Maybe the Mayans had something like this and, you had something like this in the past 10,000 years, I'm not sure.
But this truly is the greatest shift in monetary value.
So the question is, guys, how can we prepare?
What is your two-year prediction and strategy?
What do we tell all these users that are here today?
Yes, Debra, you're on fire, please.
You also have to jump here since I appreciate everybody having me. they're here today. Yes, Debra, you're on fire, please.
You also have to jump here since I appreciate everybody having me just real quick.
I think what's so exciting about the next few years
as we start funneling in capital, tokenizing assets,
putting them on chain is all the really exciting things
we can do with AI and the secondary markets.
I mean, we can really put AI to work,
put these tokens to work, uh, with
lending, with stables. Um, and it really creates like the world we want to see, creates an
egalitarian environment where many different people can participate in these economies, uh,
put their, put their money to work, leverage that in an open way, participate in these different
kinds of, I mean, who, uh, participate in these different kinds of, I mean, who participate in these new economies.
So yeah, so I'm very excited.
I think what we see in the next couple of years
as we start to put these assets on chain
is maybe like a new,
what we call I-FI infrastructure finance summer
where applications and AI come to play
with this new liquidity, with these new assets,
and we create a lot of different
interesting secondary applications.
Love it, love that so much.
Yes, Rabi, please.
Hey, yeah.
What I believe that we believe that's gonna happen
for the next two years,
we're gonna see a massive adoption uh we believe a lot of companies uh especially will join blockchain and especially
stable coins uh we're seeing a lot of people using it to cross-border payment as fast as
cheaper and we believe that would be the bridge for a threat fight to really jump in blockchain blockchain and using the technology.
We're going to see a lot of unpredictable compliancy coming. We're going to see a lot of
new rules maybe popping up, but I believe that we will
quickly find out how to manage the future.
Awesome. Yeah, we are learning right now.
Very interesting. Yes, Michael from Aroka.
First of all, everybody said really great things and Debra hit it spot on. But to continue on that,
I would love to see and think we'll see more jurisdictions allowing RWAs to be sold.
And as non-securities, just as we are doing in Europe,
I'm looking at further jurisdictions in the East, UAE,
and even the U.S. to open up the door to these kind of assets,
which is the future.
Ooh, I like that.
Keep your eyes peeled.
Listen for any announcements for any new availability in different regions.
That could be a really, really good way to judge where this goes.
Yes, Jay, and then we'll go to Fundy Labs.
Jay, please.
Sorry, I was having a button problem.
So one of the things I think we're going to see, and I'm excited to see it, is a shift to some of the underserved markets in the world because this is going to democratize a lot of finance and
and unlock tremendous potential in terms of making assets that that are that people now
have at being able to actually utilize those assets and we're i i'm really looking forward to that and the second thing is
that i there's going to be i think a uh a crop of challengers to some of the the top players the
black rocks the apexes the the companies that that kind of rule the asset management world right now.
And particularly when you start looking at what AI is going to make possible,
I don't think they're going to be able to shift fast enough. They're going to be too focused on protecting their existing marketplaces.
existing marketplaces and we're going to see just a tremendous wave of creative destruction
over the next couple of years.
Yeah, and think about it.
I love the idea of the unserved population, unserved areas, unbanked areas.
I mean, how many people are unbanked in the world?
Two billion, three billion? I have no
idea how many there are, but there is a ton. Imagine everybody, two billion people that have
a couple dollars to their name, but they don't have any way to invest it and compound it. Well,
guess what? Now they do, which is awesome. Fundy Labs, please.
Yes. I believe that over the next two years, we'll have more regulatory clarity than we've ever had in the last decade.
And I think with that, it could serve as a major catalyst for mainstream adoption for financial players to not necessarily be publicly telling everyone.
But I think it could serve as major infrastructure for a lot of traditional finance companies, almost kind of like cloud computing became the major infrastructure for most companies. I think there's going to be
Web3 components for a lot of different companies taking advantage of that. And when it comes to
transforming the internet, I think one major thing that's going to change is ownership of
creators' content. And I think we're starting to see a shift of that, of the importance of that when we saw the TikTok ban and saw all the creators, you know, basically lost their whole business because
a ban, right? And I think decentralized social media when it comes to, I think that's going to
be a major adoption in the next couple of years and then the importance of being able to own your
content and being able to finally really monetize it and actually understand what the value of taking full custody of your content means. Oh my gosh,
the, uh, just like Jay said, the creative, what'd you say, Jay, the, the creative, um,
ah, and I, I don't know. Creative destruction. There's, there's a great put on that.
I don't know.
Creative destruction.
There's a great book on that.
Yes.
The creative destruction that we are seeing right now, because with AI, with creator economies being popped up, with blockchain and AI, there has been no other way to monetize creator and decentralize it so they have control over their creation and also be rewarded for it.
It's just crazy.
So, guys, we've gone over six minutes.
So sorry.
You guys can jump off if you need to.
But thank you so much, everybody, for coming.
We do have one more giveaway.
I've already picked somebody.
Don't worry.
I didn't forget.
Oh, no.
I screenshotted it.
Did I screenshot it?
Well, good thing I
Let me try to find you real quick guys
One seconds twenty five dollars in USDT. Thank you so much for joining everybody
Well, I had you up
um, but I have I
Have I don't know what happened
Let me oh wait, here it is.
Excellent.
Coda.
Coda 730, congratulations on your $25 USDT.
Manifesting big wins, my guy.
Love it.
Absolutely love it.
I project the manifestation of massive wins to you today and forever, my guy.
Coda, thank you so much for coming, man.
Really appreciate your support.
Let me screenshot it. After the space, I will. Both the winners, you just reply with your wallet
address. We'll send you $25 USDT on Arbitrum. So thank you so much everybody. And Aroka, Michael,
did you want to come back up here and say something real quick? All right. We lost you for a sec.
So thank you so much everybody for coming. Jay, thank you for coming.
Michael from Maroka, Fundy Labs, thanks for jumping in and saying hello.
Love having you.
Appreciate it.
I would love to have you on more.
Did you guys have any closing remarks?
I just want to say thank you to everybody for listening to our rants and our predictions, and thank you for inviting me.
Amazing, Jay. Always a pleasure. Thank you for organizing this. It's great.
Pleasure, brother. Pleasure. Amazing, guys. And for all those that are building in this space,
All those that are building in this space, that you have a company, you're a professional, you're building in Web3.
that you have a company, you're a professional, you're building in Web3,
We did create the Collab Hub.
The Collab Hub is a platform to help foster exposure and also create collaborations within the space.
You just join the Collab Hub for free.
It's a platform.
It's pinned.
And you choose a space that you would like to contribute to if you like the niche, if it meets your date and time.
So it's convenient for you.
You just choose the space.
I vet you as a company.
You join spaces like these at events.
You get to meet amazing founders and builders just like we had today.
And then that's it.
That's the entire, that's how you join a space with us.
So we'd love to have anybody in the audience
if you guys are building anything in Web3.
So thank you so much, guys.
Until next time, we'll talk to you later.
