Ripple XRP and Banks are long on Crypto
And. We, are live, about, 39. Minutes late so. Anybody. Who's jumping on right now, this. Is completely. Unlike, the. Huddle report for, showing. Up late we'll, see who we get on we. Might just have this as an open dialogue, for today you, know what's up took, me about, 15. Minutes to get Opia, OBS. To open. Up and and start working I figured. I'd be a little bit late tonight. But, didn't. Anticipate a. 40-minute. Delay, so I, told, the group that I had to be back before. 10:00, they. Said no problem and ended. Up getting back a little bit after. The time expected. And then, spent a little time trying to get OBS going, so we'll, see if we can get anybody. Jumping. In not. A hundred percent sure if. We, can pull, that off so we'll see what we got going on what's. Up Alex. Lunch, break another 20 minutes that's awesome all the way from Australia. We, got some good. Messages going, on earlier. In. The day for us I guess that was night. For you so, we. Were talking that, hasn't had, and, didn't. Really thought. Australia. Is going to pull it off, again. You know as we move forward, so. Every. Every country. I guess will have their third. Time and and we'll see exactly. What. Happens here so I'm showing that my stream is offline. On. YouTube, is that I see, everybody chatting, but I'm not seeing an, active. Live stream, so I don't know if that's the case or not, I'm. Frozen. Let. Me look and see if my camera froze, I've got, an ad getting, ready to pop up here maybe. There's a bit of a delay now let. Me look here I. Don't. Know looks live am I still frozen, let, me just like. Ah. So. What's, up Krypto, Sifu, Carl. Lewis apologized. To everybody for. Showing up a little bit late. I, had. To go. Out and entertain some. Friends from out of the country and so anyhow. Was. Anticipating, getting them back a little bit earlier I probably, should just called the stream off altogether and just kept. Everybody out later but. I said you know what we got to got. To make it back so we can complete. This stream tonight so, then obviously, the. Conversation, moved. Into and I was actually a little bit surprised though, one. Of the people I am live yes. I am that's, awesome, I am, live can, you believe that man, I'm. Responding. To someone sending me text messages that told me that I'm live I'm live, all the way, coming. Coming, to you from. The. Swamp. Over here. So. Anyhow, WB. Chinese, bamboo what's, up, this is definitely our time. To. Believe and if you guys haven't watched a video on Chinese, bamboo I highly, recommend, going, to youtube and look, up Chinese. Bamboo I checked, that out because once. You watch the video on Chinese bamboo its, kind of life-altering and. You realize, that if, you want to put another terminology, to that Chinese bamboo then. Call it XRP Hodler because, you'll get the exact, same, concept. So. The. Old had to entertain people from. Out of the country she escapes yeah. Man. Come on I have to use that excuse, every so often, you. Know every couple weeks I use that excuse. So, it, might frozen. What. Is that oh you. Don't get frozen Jeff come on come. On frozen Jeff, that'd. Be awesome, all right so anyhow, all right so. Part, of the conversation. Tonight interestingly. Enough. Developed. Into, digital, assets, so one of the people that was out tonight actually. Invested. In, digital assets and I had no idea invested, in digital assets, or, it's the end of seventeen into, 2018. And then. Followed. The, digital. Asset, space. As it went up as it. Went down and then bailed on digital assets, out of fear. When, it went Bitcoin, hid around 3,800, I'm, like oh come, on I can't believe you bailed out of it and cut. Losses and you. Know trying to get into the space it really highlights. To. Me one, of the the primary, reasons, why, we. Can't get into a speculative. Investment. And attempt, to day trade so. I think that's uh that's, definitely, haha, frozen. GF is a TV, dinner. If. You haven't found it you can go to the grocery store whatever local, grocery, store is anywhere near, you, you can look it up go to the frozen section TV, dinner section, and you'll, find frozen Jeff so. Anyhow. I see the little bit of a delay here so we'll probably have a really small, group tonight because.
I Showed up late and. In. Any house so this. Will be this is kind of awesome I was. I was putting, together a, lot. Of ideas, oh the Chinese bamboo link WB put up the Chinese bamboo link up there so. If you want to check it out I definitely. Watch it I think it's a you. Know a definite, definite, you, know, definite. Watch so. Bye, hi and so low is not a good plan but you know what that's the plan that the majority of the financial, institutions. Wants. You to buy on they want you to buy high and they want you to sell low and that's. How they get the the bag holders, that. Are holding it those Heights and. That's how they make their profits, so let's. All remember that, so. Anyhow, all right this, is gonna be. Let's. See we got we got some good people coming in I'm getting some text messages getting, some you, know people you know bouncing, into the chat, in. And out so anyhow, again, apologize, for starting, late tonight. Won't. Happen again. And any ailment let's let's get into this I think there's a lot of great things to talk about and. I definitely want to go over. Some. Of these things and as, I was going through this I said, you know what would be a really, interesting topic to, dig back through, and. So one, of one. Of the ideas, as. I was putting this all together was. Really to look at and I was looking at an old article on, this, old article, and I think I might cover this article, on the next stream and. We're gonna focus on, one. Article, in particular but. The article that I that I had really identified. Was, from 2018. It was June 6th, of, 2018. So, being that today's June 5th, of, 2019. I think, I'm gonna wait and. And. You know and go through this on another, day but. It was an article that. Highlighted, the ten, largest, companies, looking, to get into Bitcoin, into blockchain, now, I'm as of June 6 of, 2018. And. So as I was going through that I thought it was really interesting I highlighted. The top 10 there's, actually a list that they, had put together maybe, like 44, 45. 50. I didn't. Go through the entire list companies. Large companies worldwide. That. A year ago had. Plans, had, patents, had a, lot, of different things, that were in. The public sphere, when. It comes when it comes to a. Digital, asset and. And blockchain technology. Hey, ma hang on a second. So. The, that's. Interesting, the chat in my on my phone is way. Delayed. From. The. Chat, on the computer. Alright. That makes no sense. Google app so. Let's try to change, that up there. We go had to shut it down open, it up again all. Right cool, so. So. I think this is really interesting I think this is important, for a small group. Of us to, really dig into and the reason why I think it's important for a small group of us to dig into is. Because those of us who are on right now can, understand. The, path, that. These banks, are going down. In. Terms, of developing. Their, technology. Moving. Into the blockchain space, moving. Into the. Digital asset, space and. And this goes through whether, it's a bud, or FOMO, and.
I And I think that this is really all telling, so, as I, was digging through this list of top 10 and, I was trying to really identify. Where. Where, these organizations. Were as of, June 6 2010. And where. The organizations, are as of, June 5th, 2019. So I'm going through this and I, stumble across another. Article that, was from actually, January, 6th, of this year and as, I stumbled, across this article I said you know what this. Is a, topic. That we have to discuss and one. Of the reasons why we have to discuss, this article, is because. As we see countries around the world, that. Are establishing. Precedent. For. Digital. Assets, for, digital asset exchanges. For, the cryptocurrency space, in general, this. Article, really highlighted. You, know some really important. Aspects. Of what's, happening, so, that. The, title of this article is. China. Trade, and Finance. Interbank, trading. Blockchain, platform. Officially. Launches. Now why is this so important, so this is back in January. This is a, consortium. In China, so, now if, we think and try, to really identify. Where. We're at at this point I'm. Steven chip man what's up with that look, at that. 1589. XRP, man. That's awesome appreciate, that man. So. So. Anyhow so here's a consortium, of banks getting. Together in, China, now again you know why are we so what you know what do I want to kind, of hyper focus. On China. Right now because, we have a lot of issues going. On in China and we, have a lot of rumour that had come out of China as maybe not so friendly, to digital. Assets, as we, see the. Development in countries like India, so. So. With all of this FUD with all of these things going on a. Spanish. Fly what's happening. Miyagi. Richter. What's up good, to see you on get. Is good really great to see everybody on so, we got, Gio XRP. And. I know I've got, Jim. Is is hanging in there I got, a text message from. Him so. I know that he's. In the background there I got Larry on I've got a lot of good people on. That many, times are just hanging in the background, every so often I get messages popped. Through. Clara. Again, yes no, good to see everybody on so, anyhow. And and we're getting more, and more people that are filtering, into the stream. Spanish. Fly were getting smarter by the day well I'll tell you here based on the conversation, I had earlier, before. I came up though one, of the the people that. We're out with tonight was. Asking what they should invest in after. They sold out of most of their holdings and I, said well. XRP. And. We started talking about Bitcoin, we started talking about the. Platform and. The you know the purpose and utility. Phase. That that digital, assets are going into now and there. Was the counter-argument. That was saying well banks aren't getting into it banks. Don't want to get into it the Fed the Fed the, central banks don't want it I said it's actually the opposite, very. Contrary, to, and. Here's why and, then we went down an entire path, of, discussion. Discussing. International, economics, etc, etcetera so, but. Anyhow so, this, is this is really all, telling, so oh man, you just watch the Chinese bamboo yeah, that's it Chinese, bamboo you got to hang in there, perseverance. Pays off in, whatever you do, long-term. Focus.
Long-term. Investment, and you what the banks. 100%. Are in this for the long term, hold and the, reason why they're in this for the long term hold and the reason why we know that a lot of these banks are in it for the long term hold is because, we don't have to do much we can do a little bit of historical. Research. We, can do a little Google and, we can find out where. These guys were not that long ago when. While, they were spreading, the flood and telling everybody how. Bad and evil digital. Asset a blockchain was, they, were preparing, themselves for, the inevitable, so. Chip. Man what's up another. 589, from from, chip, appreciate. That and just. Wait till tomorrow so. All, right, so so this was a press release from. The China, Banking, Association, now. Again this goes back to, January. Of, 2019. What, we're gonna do is go through this and then we're gonna take a step back to. 2018. And we're, really going to identify you. Know why. Why. We see the banks you know diving, into the space more aggressively, now than. Ever before so. So. Here we have the. China Banking, Association. They. Announced the law of the launch of the long-anticipated China. Trade. And Finance, interbank, trading, blockchain, platform. Oh. Man. I'm I'm running out of this now the only bottle I have in front of me is the hit the large water bottle so. Hang. On a minute I. Gotta. Pull out the large water bottle no, I got really dry in here all of a sudden hang on a second hang, on. There. We go all, right so. Let's let's repeat this let's. Go through this again we've, got the, China trade, and Finance. Interbank, trading. Blockchain, platform. All. Right finance. Interbank, interbank. A trading. Blockchain, platform. Let's underscore. That was a coconut, that's the Vita Coco. Coconut, water and you got to love this stuff I love, this stuff the original. So. So. Anyhow so so if we underscore, and, highlight. Again, the China trade and Finance. Interbank, trading, blockchain. Platform, the reason why this kills my base and. You know to the digital asset space but, here they are, developing. There's an association, developing. This now this, the. The, project officially. Kicked off at. The end of. December. No, you know so. Alright. So, you know so again you know so if we look at the launch of this back end in December think about all, of the fun that's coming out of China from. The end of December, through. The end of May so, obviously, we see a lot of momentum, in the negative, coming. Out of there but here's the the perspective, and the goal of this platform is. To. Improve, the transaction. Mode improve. Transaction. Efficiency, and ensure, transaction. Security, now I think it's important, that we highlight, and we, remember, this exact. Phraseology. And. If you try to relate, it back to the, exact, reasons. Why. Ripple, developed, ripple net why, ripple net is coming after. Xcaret. Coming after Swift with, ex current, why Ripple, that is a trio, of solutions. With ex. Current, ex rapid, in ex via it's. Definitely, a distinguishing. Trio. Of, software's. In one platform that no, one else has. Been able to put together, however. Dan. Dan what's up man, you're late I was late so though. That so it's all it's all good it's all good I just started streaming maybe, about.
10 Minutes ago so. It. Took me a little bit to get on so. Now so check this out so here we are again, the. Core. Concept of why, they put this association, together improve. Transaction. Mode improve. Transaction. Efficiency, and ensure, transaction. Security, now if. Everything was seamless and efficient, with the current solution why. Would they need to establish, an. Interbank. Blockchain. Platform. They wouldn't have to, but. What we're seeing here is that we have multiple. Banks. That have. Really jumped on board to. Operate, on this, platform now this, is all within China in, a, sense it, could be seen as a composite, competitor, however. You. Still need to establish. Trade. From China. Across. The pond you know in in any direction, but. Here but here's a list here's, a list of the banks. That are part of the consortium. So. We start, off with the. United Nations Development Bank. What, is that. Um. I, have no idea let's, see Oh. Funny. Carl Lewis. Alright, so we have the, United Nations, Development Bank, we. Have the industrious, so underscore. That again part of this consortium. Utilizing. Blockchain. Technology. For. Interbank trade the, United Nations Development Bakke Industrial. And Commercial Bank, of China the, Agricultural. Bank of China Bank. Of China China Construction. Bank, Bank. Of Communications, we. Have China. Merchants, Bank China CIT, IC bank China, ever bright Bank China. Min, Qiang Bank, Shanghai. Pudong. Development. Bank we. Have the China postal, savings bank ping'an. Bank HSBC, Bank. Of China and then, you have additional sponsors of, which. Include, Hank, saying electronics. Nanjing, run. Qing technology. Han Jie on financial. Tech Beijing. Something. I'm not, even to try to read, but. But, anyhow you, know each and every one of them are participants. In this, solution so the reason why I think this is so critical again this was in January coming. Out of a country where, we, see a lot of FUD that's, stating, that blockchains. No good cryptocurrency. Is no good digital. Assets are no good and we know that, in order for them to create. This. Trading, blockchain, platform, there has to be a. Digital. Currency there, has to be a digital asset somehow. Linking. And facilitating. Trade. Between these. Individual, banks now as they open up and they want to start trading, internationally. We're. Definitely going to need a, solution. That's. Going to offer them a, little, bit more. So. Now, if we if we look at this, is kind of where. Again. As of as of January, we look and say ok here's a consortium developed. In China. And. Again. What. I want to look at overall, yo. Country-by-country, are, the precedents, being set, one. Way or the other so. If you have a country if you have a central bank if you have the government's, yeah that, are speaking out against. The digital asset, space while, at the same time they're. Embracing, the. Blockchain and digital asset space it's, kind of a you. Know they're, speaking out of both sides of their mouth and at the end of the day it's kind of from their perspective, it's do as I say not as I do but. We have to make the decision, as to do, we want to follow, do as I say or would we rather follow. Do, as I do because if they're moving into the, digital asset, space we. Know that that is kind, of the growth trend. That's the way we're moving forward um. So where, this all started and this is really offering, the. Top, ten. Called. Whether it would be the top, ten. Largest. Companies. That, are that, were at that time, pursuing.
Blockchain. Technology. So the title of it is that. Ten largest companies in the world are now exploring, blockchain, so this, was that. It actually appeared in Forbes it was written by Michael, del. Castillo. And. So this, was it was a really interesting article. But, but it really highlights, you. Know ten interesting. Companies. And so what I did was I broke it down I said okay let's extract, out these, ten companies let's. Look at each one of these ten companies and then, from that really. Try to again. Assess an opinion, as to what, direction are banks. Moving in as we fast forward, into June. Fifth of. 2019. So. Before we get into that let me turn back to, the chat we've, got just over 30 people on I know it's a little bit late for, people so, anyhow. What do we got going on here. So. Eric. Kistler. So. We have all these banks, making internal. Currencies. That no other bank would trust or want to use, essentially. Yeah that's, that's, kind of what we're starting to see so, they are as crypto sifu said creating. Walled gardens, at the end of the day they're going to need bridges, so all of the banks are and you. Know they're looking at and if you think about you, know where ripple. Is with, ripple, net creating, an amazing solution. To, facilitate, cross-border, payments to. Facilitate. Liquidity, to. Facilitate, interoperability. Like. We talked about on the last stream, there's a lot that's happening, that, can happen that will, happen and. Banks, and we saw it with JP Morgan and, we'll get into that here in a little bit but they assume, that. They can do it on their own they assume. That since they're, watching, others do it then within a short, period of time that, they can take advantage and, they could move. Forward and do it as good or not better than. Those who have spent now, the past, seven. Eight years developing. In this, space and moving. And and working, to provide a universal. Solution. That. Operates, between all, banks now if we look at the individual, banks just. Like. You. Know just as you're saying just as crypto sifu is mentioning, they're basically creating, walled. Gardens, they're creating, an environment. Where, you. Know they they are not going to be able to transact, with the, other banks, and you. Have to really look at and say you know what solution did they really solve. And that, and it was interesting, because that. Was another point they, came up before, I even started, delving. Into the banks I was looking at, and. Let me see if I can even find. This I probably buried. I probably. Buried this somewhere let me see as I started thinking, about banks, yeah. I buried it all together so I had. A whole, topics. I guess we'll have to save that but. I was looking at a company, that was. Creating. A solution to. A supposed, problem. Eat solving, and and, the fact that ripple. Was, solving, it has now opened it up and has is is really you know highlighting. The fact that there's. A problem, and there is a solution, and all, of these other banks and Bank consortiums, and paint banking, conglomerates. Are looking, say whoa hey you know what if ripple, can do it we, can do it what makes them so unique well, what makes them so unique is, that they have stellar. Individuals. That are working on their, team that have now you, know spent years upon years in. Developing. An amazing. Platform that. Is, enabling. A decentralized. Mechanism. To allow banks to trade, with one another and to, do so, without. Without. The worry of third. Party manipulation. Where. At the same time it's, happening. Virtually. Without. Cost, and immediate. So if you look at these XRP tip pots that are, coming through and I just got one from Spanish, Fly thank you very much they, come but they come through almost.
Instantaneously. And that's using the XRP tip pot you, want to send a, currency. And it goes through the. XRP ledger and it happens instantaneously, you, send a million dollars from one, site to another it, happens almost instantaneously, and. The cost of transaction. Is measured. In cents, and so, it's, really it's an amazing. Concept, so all these other banking, conglomerate said. Well we, can do it we can do it transparently. Not, that they want to we, can do it cheaply we, can do it efficiently, you, know going back to again. That that concept, of you, know what was what, was raised but, that, it's not really that's. Not really clear and that's not really the fact that they're, able to do it but, this statement, rings. True, regardless. So again this, was the purpose of the, the. Consortium. In China again. Third. Platform, there China, trade, and Finance, interbank, trading, blockchain, platform, was, specifically, geared towards that now, if we look at the top ten largest. Companies, that, were also looking into. Blockchain. And to into, a assimilate. Blockchain, as part. Of their solution, they all have the exact same reasons, um so. As I. Look, through this. Forbes, article, number. One on the list was another Chinese bank and. It's the, Industrial. And Commercial Bank, of China ICBC. That was number one number one on the list of largest, companies, in the world that wanted, to adopt, digital. Asset now just, like JP Morgan just, like Berkshire Hathaway, and many, many others, they, were bad-mouthing. Digital. Asset, prior, to. Getting into it so here. We have. Let's. See so, here we have June. 6 after previously. So this is June 6 2008, eeen just, a snippet from the article after previously. Denying, claims, that, the government owned bank was, working, with Sarah, blockchain, powered Stock Exchange, Property. Office, ICBC. Described, an idea for, using blockchain, technology, to, verify, digital, certificates. Using. A blockchain instead. Of trusted, central. Authority now, as we fast forward, with. This organization. We. Go to June, of 2019. And in, fact, ICBC. Has. Launched, a FinTech. Subsidiary. In. Let's, see if I can pronounce this young, man a new, area alongside, block, chain driven, resettlement. Platform. So let's, open this up let's see what they're showcasing, let's see if it opens, all. Right come, on it's churning I don't, know why everything's churning here here we go so. China. Shows, traction. With, blockchain, no that's not what I wanted to look at okay. Here is the. China Construction, Bank, is, that what I was just talking about let me see so, I just talking about the China construction making no that's number two on the list so, how come this one where did this one go hang on here it is ICBC. All. Right so we have ICBC. Which. Again, this disappeared. What's. The date May 9th of this year. China. Banking, news that's, the website, China, banking, news ICBC. Launches, FinTech subsidiary. In zhang, and new area long site block chain driven. Resettlement. Platform. So, the FinTech subsidiary. Of China's biggest bank in terms of assets has, just, commenced, operation. FinTech, as a medium, focus. On industrial clients government, services and other, financial. Scenario. You, know so I think it's it's really it's interesting. Because. They're developing, the FinTech, alongside. What. They're doing with, blockchain. For, settlement, purposes so. Here we are again at. China Bank in, 2018. Bad-mouthing. The space. 2018. They begin research. Into space. 2019. There in the space so. I think that's kind of an important. Identifier. All right let me just really. Look over here hang on a second. All, right let's see. Let. Me go back through some of the chat here. All. Right hang on hang on. Krypto. Sifu. Eric. Look look, at it like the old Tiger trying to prove I can still roar right the, legacy, you're talking about the bit. Where'd. It go keep it in house and spend all that money is, if, you plan to skim the profits, all. Right so let's keep going down here let's see we got here there we go XRP minute the. Banks that get it will, adopt ripple tech the banks like JP Morgan and the others who think they're, creating their own so-called coins will, be left behind with. Their pathetic, still, little, dopey, coin. All. Right Spanish, Fly loved the browser the. Brave browser you. Can see the coil micro payments paying out that's.
Pretty Cool, that is pretty cool. Yeah. That's that's really nice, they. Can be cannibalized, okay, but, what is that they can't they will be cannibalized, to, quote Miz Legarda. From. The IMF, JP. Morgan's okay alright so let's, move on all right China, Construction Bank Corporation. CCB. Now, again. We go back 2017. 2018. CCB. Was. Actually, revealing, at that time that. They, were using the IBM blockchain. Platform, to, streamline, the, way banks and insurance companies, jointly. Sell some of their products so, we. Look at that year we could say you know what they fell off they, didn't do anything. Whatever. 2019. Jun-chan. Ik. Instruction, bank released, its 2018. Annual report this was on coin clog and, it. Says here the, bank says that, it led a blockchain, trade, finance, network that. By the end of 2018. Had, already transacted. Two, hundred billion yuan or thirty billion dollars, nearly. Forty domestic. And financial. Institutions. Participated. And. It entered into cooperation. Agreements, with twenty peers, so. Here they are just looking at it and again this is in China, China. That was trying to ban mining, and digital asset for the mainstream making. It more and more difficult similar. To what India did but. In this scenario you. Know we still see. That. You. Know we still see that. China is hat. You know banks in China are getting involved in. This space now. The. Number three on the chart before, we get into number three on the chart let, me just look, at something real quick, hang, on a second, here. We go. All. Right. Whoa. Okay, things are just flying through here, my. My. Chat was stuck and it just, started. Flowing so, any okay, so number, three on the chart is JP, Morgan now we, all know JP Morgan again this goes back to 2018. JP. Morgan in spite of company. CEO Jamie Dimon. Vociferous. Railing. Again this is from the Forbes article of what tsipras railing against Bitcoin itself his, company, has emerged, as one of the most visible, and, committed. Enterprises. To the underlying, blockchain, technology. After first contributing, its, own internally, developed blockchain, platform, quorum, to. The open source community. JPMorgan, has seen interest, among users including. Pharmaceutical. Giant, Pfizer, and there was actually some other topics, before I got into the, banking topics, one. Of them I wanted to talk about was, what Pfizer, is actually, doing in the blockchain space, along with Walmart which, I guess we'll talk about on the, next stream, so, obviously. We know what JPMorgan, did this year with, the launch of. JPM. So. Number. Four on the list if, you guys can think about one. Of the other most outspoken, critics. Of. Digital. Asset, which. Is. From. Berkshire. Hathaway. That's now going to be having lunch with. The. Founder of Tron. After. He apparently. Donated. Four point something million dollars to. Charity. Fundraiser. So. Anyhow. Berkshire. Hathaway now, again this goes back to. You. Know similar to diamonds vocal, i doubt, of. Bitcoin.
Berkshire. Hathaway, there's a quote from the article berkshire. Hathaway's founder and CEO warren, buffett is an outspoken. Cryptocurrency. Skeptic. Comparing. Bitcoin to rat, poison, rat. Poison, and chiding, those who consider purchasing, it a form. Of legitimate. Investment. But. That hasn't kept the company from exploring crypto currencies underlying. Blockchain. Tech as a way to what, trace, the, provenance. Of diamonds. And even freight, delivered, on Buffett's, railroads, so, if we go through all of the, jet all of the Jimmy, Buffett all of the Warren Buffett Holdings. All of the Berkshire, Hathaway, holdings are we going to find. Companies. Within his holdings, freight, companies, are, we gonna find. Precious. Metal, mining. Companies or precious, metal our. Precious, metal precious stones, are, we gonna find that, in some way shape or form they, are participating, in. A, blockchain. Cryptocurrency, based. Solution. So we know that Freight is really. Freight and logistics is, the. Next, large, utility. Point outside, of, banking, and financial institutions, and, in really the next large space that. Blockchain. And digital, asset, is is, really you, know taking, over so. Before. We move into the, next five, five. Through ten let me just take a quick look, at the chat we. There. We go alright. Jim. Hall if. XRP, minute said is well said we got to read it. Xrp. Minute any bank, that tries to make their own stable. Coin is just, making a desperate attempt. To hold, on to an old system, where, they have the power. Centralized. Power we, should emphasize. So alright let's go to number. Five on the list number. Five on the list is, Agriculture. Bank of China Limited, now, this, is a, state-owned. Bank. 2018. Per, the Forbes article revealed. It was working, on a decentralized. Network. To. Offer unsecured. Agricultural. Loans, to. E-commerce, merchants. Unfortunately. Didn't. Really find out a lot of information about. It as, I move forward, so. Let's skip onto the next one then, there were a few others Bank, of America Wells, Fargo. Wells, Fargo, Bank. Of America, and Bank. Of China each, one, of them in. 2018. We're. Undertaking their, own blockchain, projects, to streamline, a diverse, set of financial. Workflows. Haven't, heard a lot yet from them we. Do see some participation. With. Bank of America in other areas, but. We haven't seen anything on their own then, the other that. Came out was Apple, so, 2018. Apple. Was. Looking, at blockchain, technology. And lo. And behold, where's, the article that I posted up here, Apple. As. Of, just a couple days ago looks. Like they're, gearing up to launch a, series of. Apps. And with, that what they did was Apple. Launched. What, is called crypto. Kit. It's a crypto, crip. Cryptography. Oriented. Toolkit, for, Apple developers, while the iPhone maker avoids, mentioning, the magical words blockchain, and cryptocurrency, it sure, sounds, like the new tool might have something to do with it that was a quote from The Next Web comm, with. A little bit of a quote or a little, bit of an article, on Apple, launching. This crypto, kit and. It says here crypto kit will be made, available in, the, upcoming, iOS 13. Update as. Spotted, by the blog on the, dev kit will officially, be. Announced, in WWDC. Session. Called, crypto, and your apps so. Interesting. That, Apple, is starting. To dive into this space as well so, is this the space that. People are saying that there is no utility. That's, going away that. There's no development, that it's just a fluke that, it's just a bunch of scammers. You. Know just very very unlikely. Now. Number, ten on this list is China. Based, ping, on, insurance. Now, the, firm join distributor, ledger consortium. Are three back, in, 2016. So we're, talking about three years ago this, this organization. Joined. R3, and has, reportedly, been helping, China's, Ministry of Industry, and, information. Technology. Research. The, technology so. If, we want to sit back and think that. These. That, the government's that the financial, institutions, that the, banks, that the central, banks that although, many. Of them are very adamant to, speak out against, this space while, at the same time they're. Aggressively. Researching. How and, when. Or what their entry point is going, to be into, the, digital asset space just. Interesting, now. From. The article they, listed, a series of, other. Organizations. That in, 2018. Juna - so a year ago were also researching the space, Microsoft. Alphabet. Or Google, Walmart. And. So those are, three. You, know top end. Organizations. That, we all know the name - then, we have German. Auto manufacturer. Daimler, we have Japanese, auto manufacturer. Mitsubishi, and we, have a bank in Russia called. Spare. Spare. Bank so, I think it's really really all telling, when.
You See a list like this and the, list like I said was about you, know 50, companies long this. Was the top ten in that list, before. We went through that we looked at a list, of banks, within a consortium. Over, in China other. Developing. Blockchain, technology. For interbank, transaction. For. The exact purpose of many. Of the things that we're talking about so. It's you, know it's it's just really really interesting, that, this is the direction, that. We're moving into so, you know with, all of this being said yo, did, any of them say specifically. Which. Digital asset they're working with. Not, necessarily. However. When. We look at the. The. Backing, of those. Organizations. That are using which. Digital asset, that's. That's where it gets really interesting so. We see all these the banks like we talked was. Brought up earlier, putting. Up the walls, they still need bridge, currencies, banks. Still need to transact, with each other essentially. They're, they're you know putting themselves into silos, whether, it's one bank or a hundred, banks or a thousand, banks they're. Siloed, we. Know that Swift has, 10,000. Customers we, know that, that. Ripple, through ripple net has well, over 200, customers and they're their onboarding, on a weekly, basis, so that number came swell, and grow at. An exponential, rate we know that JP Morgan with, JP em coin and some, of the things that they're doing they, have their group we see this China, consortium, the thing is again you know all of these entities at, the end of the day are going to have to communicate there's, going to have to be a form. Of interoperability. Between. These organizations, as well as other financial, institutions. As well as other, corporations. Worldwide and and, we're, seeing a complete. Adoption. Of a. Digital, asset of the blockchain technology, and it's, expanding. At a. Faster, and faster pace, and, we're, gonna cover even. More in depth about some, of these different. You, know focal, points on, the next live stream today, was just really about about. All of this so. Let. Me see what what kind of comments we have. Popped up here we, have Jeff from the news Justin Sun has. That lunch with Buffett actually made the company. I worked, for which is a global, internal IT newsletter, I was, shocked to see it published. It, actually made the newsletter. That's. Kind of crazy, let's. See extra P JP, Morgan is a banking powerhouse, but. They lose in the cross-border remittance, area no, one outside the JP Morgan infrastructure, will use JP m and that's really. A fact if. They're within the JP Morgan family they'll. Use it forget, about it on the outside it's not even, going, to be possible. See. JP Morgan coma. JP. Morgan, coin, is just, a test coin for the real deal so they're, ready when it goes that's, Carl Lewis, that's. That's really interesting so, Apple. Is getting into it there's. There's a lot of swell at all these different layer layers. And levels to. Begin the, facilitation. Of, mainstream. Adoption so, many. Have said this the. CEO of coinbase said, this. That. We're entering into a, utility. Phase, and the utility, phase before. We kind of had the. Recognition. Phase the identify, our phase the rollout phase, we. Started to see you, know all this talk about it a year ago banks, were investigating. It a year. Forward, we have bank after bank after bank organization.
After Organization that. Are fully engaged in. Blockchain. Fully engaged, in digital, asset. That. Fact, on its own means that we're entering now into a full. Utility period. Where, we end up at the end of this year, is going, to be interesting, and that's kind of the unknown how, fast, this space is going to expand, how, fast this space is going to grow which, companies. Are still going to be around a, year, from now which, companies, are going to come out on top which. Companies, are. Going to be absorbed, into other companies so, and this goes to other, conversations. That we had which, one's going to go first the bank or the exchange because. As these. Cryptocurrency. Or digital asset exchanges. Become. Absorbing. More, and more of the banking, the traditional, banking, type. Functionality. That's. Where we, begin to see the irrelevance. E of the brick-and-mortar, banks. Now brick-and-mortar. Banks, aren't going to go away anytime soon, so. We'll see. In this space that direct, competition, where. Banks are identifying, we don't need the the branches, we, don't need the home. Repair loans, whatever. It might be you, still need some, sort of personal, relationship. Stock. Investing. Advice there's, still an entire layer within. Society. That, isn't going to do that digitally. Or remotely, and they need an individual, safety. Deposit box, you, can't put a safety deposit box in a, digital exchange. When, you have physical good that, you want something protected, so there are a lot of different layers where we still need the brick-and-mortar banks. We just don't need them as much we. Don't need as much personnel, they're, going to be able to streamline they're, gonna become more efficient, they're. Not going to have the same cost, and expenses, they're, going to have to compete, at, a different, level now. And and you know I think we're gonna see a really. A seismic. Shift, within. That space we've, already seen it in the investment, space where, a fidelity, an, e Trade a I'm. Just, trying to think of some. Of the. I'm. Trying to think of some of the traditional. You. Know places where you, would go for investing, where you'd have to sit down with a financial, adviser outside. Of the bank but, anyhow you know we see the, expense, and the cost of having a broker is is. Marginalized. At this point you, have Robin, Hood where, you can pay us, five. Six dollars a month and you have access to margin, accounts, you have access, to, research, data you, have access to free trades in the stock market, so, it's it's really amazing you go on Robin Hood as an app Robin. Hood online how does an e Trade or a fidelity or, any of the others that are still charging you, know $5. $10. $15. 99, you know I haven't even been on them what, are they gonna do when they're charging those kinds of money those, kinds. Of trade fees in and out when. A Robin, Hood is doing it for free so. That so we're seeing that seismic shift we're seeing the FinTech banking. We're going to see the. Digital asset the blockchain banking. We're. Starting, to see a complete. You, know really, merging. Of the lines of blurring of the lines between all. Of this so I think it's it's, pretty amazing, so. Johnny. Kevin on, Total. Recall I. Thought. To be greater. That's. That's kind of how it will probably be you know I mean it's it's really amazing, you know rain what's up what's, up. Glad. You're on let me just go through this. And. Let's see, here you know when the bill Goats. Gruff were, stopped, on the bridge by the troll, if, they had a bridge currency. Would. He have let them through. What. Wait. A minute. Okay. They're stopped by the troll know if they had a bridge currency, I get it I get it I, got. It now. All. Right okay, let's see a little off-topic this. Is interesting, and. This is off-topic, Jeff Rome. Did. You see that news article about Ford and GM possible, merger I did not I'm, gonna have to see that would, that be crazy. Probably. Not necessarily, crazy, if. They had larger. Competitive. Forces, could. They merge. It, would be an, interesting. Shift. Would, they let them merge you. Know I you, know I don't know I mean their, financials. Are, definitely. Different, in. Terms of what Ford. I did. With their union, negotiations. Versus. What GM, did GM. Obviously renegotiated. A lot after the government. Takeover, and. And the subsequent. You know. Dissolving. Of their shares of their, previous, corporation, and dissolving.
Their Original, GM shares to zero to worthless, as they, rolled out all, brand-new GM shares, you, know could there be a merger I mean anything's, possible. But. I think the dynamics, between those two auto companies, would, make it difficult. And. You would have to look at you know would there be you, know put you know full reasoning. As to why the. Two entities should, merge. Now, I'm government motors. Expansion. Yeah, you know so you, know we got to stay away from, government. Involvement, and, if we go back if you go back to when the government took over GM. You. Know what it what a disaster. You, know if you look at it you know has to have the GM vehicles, improved, you know over the past number of years obviously. You know GM vehicles, are doing. You know pretty amazingly. Ford. On the other hand has really. Destroyed. Their entire car, line they're, going crossover, and truck only, you. Know General. Motors, has. A car company you. Know and really any of the car companies their. Designs, are you. Know are organized. Previously. Like you. Know five years prior. To launch. Of the vehicle so they have the vehicle designs and all of that but I don't. Even know where I'm going with this but anyhow, I'm looking at government Motors expansion, so. The, government, takeover, of General Motors was. Really devastating. Because, they, they killed off. Some. Of the some, of the product line oh man, crypto. Seafood, thanks for that, I'll, definitely run out tomorrow. And get another coconut. Water on you appreciate, that. That. Would be awesome so. Let's. See here so yeah, so I mean we, could really keep going down and talk a lot about the. Whole dynamic, of what. Went on in the in the automotive industry. The. Government and this was really just a hard-on for Obama, you, know killing off the hummer division, and the hummer division, at the time of the kill off even. Even through the financial. Disaster. Was still putting. Up numbers and. Was still a profitable. Entity and the only reason why they killed it off was. To appease the. Tree huggers that, didn't like the fact of what, the Hummer brand represented. For. American. Strength and. You know having those on the streets so that was really, unfortunate, then. They killed off Pontiac, they, killed off Saturn, they tried to streamline Saturn.
Really, Was a kind of a no-go company to begin with that was their attempt, at at Europe, and izing. Their. Vehicles, and. You. Know so it was kind of a disaster. So. You. Know overall they killed off Pontiac, and. Pontiac, was actually. A relatively, successful brand, but I think it was kind, of dwindling. Down into. Irrelevance. II as they did with. Oldsmobile. They killed that off and and that, kill off had nothing to do with with, finances, other than, it. Came down to an. Argument, between. Between. Two, CEO. Or two presidents, or divisions, or whatever it, was kind of a bizarre incident from, what I heard from. People that were kind. Of involved, that. Shouldn't have happened so. Kind. Of crazy anyhow. Enough on the automotive. Dime. Jambi. In, your opinion when do you see the next recession happening, and what, could be the catalyst. Man. That's, a great question. Recession. You know I'm not one to predict, recessions. I do. See that. People are, overextended. Across. The board I think there's, turmoil. That's. Developing, in different parts of the world I do, see you know the Federal, Reserve that's. Decrease, in interest rates because. They potentially choke the economy, with, a sudden. Jump up of interest rates you. Know I think that we're in a period where. We saw. You know overall a rise. In the economy, for a longer period of time where there needs to be a slight, pullback and you. Know I mean there's a lot of different things that could really be. A catalyst. To, pulling. Into. Another. Global recession, repeat of errors. In the past. Large. Deficits. I mean, there's there's a lot of catalysts, out there that. Could really be a causation, if. We look at in the United States as an, overall the, job market is relatively, strong there's. A lot of job openings and, not necessarily enough people to fill a, lot. Of the jobs that are out there but there's. So many dynamics, so. That that could be a whole topic and really, you can't just talk about it on the surface so. We, have entered the twilight zone. Was. That doo doo doo doo doo doo doo doo. John. Doe is in the house. Um. Let me see here what time is it Oh God, okay let's, start going. Through this, would. Have sucked to lose GM and Ford has, the mall yeah the Mustang. That's. Right rain the Mustang, is still out there but, they didn't kill off the Mustang. The. Mustang is uh still. Out there so, not, one of the cars they're killing off sorry. But I'll never buy GM, or Ford quote. Man, III disagree, John. The. General Motors quality. Has. Improved. Dramatically. Over. The years reigns. Got a Tahoe, I. Actually. Have a I, Drive at Yukon and I'll. Tell you what, now the Yukon, is by, far you know one of my favorite trucks, I love the Yukon I don't. Drive a GM, vehicle I've, rented multiple. GM vehicles. However. You, know if you if you get into it depending, on on where. You're buying you know what category you're buying in Ford. I was, just with some, friends and, and they had a brand, new Ford Expedition and. I'll tell you what that Ford Expedition the, engine was strong the, interior, was designed nicely. Everything. About it was great. I had an opportunity to drive the BMW, i8 the, other day that a, friend of mine had I took that out and that. Thing has some crazy-ass, balls you know the engine, was ridiculous. Superfast. Zero. To 60 in 3.8, seconds, that was insane, but. There's there's a lot of amazing cars out there, GM. Definitely, stepped, up their game over, the years I'm not here trying, to promote jamming. For it in any way shape or form but, but. Anyhow, now. There's definitely you know some decent cars out there the, Buick lineup, overall. Is pretty decent you, know so you know I don't know that there's a ton dhic to complain, about with, that anyhow. Yeah dude rain that's true man Camaro. And Mustang now, battling, out in NASCAR, man, that's awesome, you. Know that's that's definitely awesome. Let's see wild star Ford needed a high-low Spanish. Fly likes the G say you like the Chevy. Chevy. Pickup, or. Man, Chevrolet's, launching, the Blazer she and have the Chevy Blazers is the new I don't. Know if I like it it's a Chevy crossover. It's not the old Chevy. Blazer the. Old blazer and then they had the that, GMC. Envoy. And, then. You had the, the. Bravado the oldsmobile, bravada they, were all in the same platform the, Tahoe and the Yukon being on the same platform as well. People, in America want, SUVs, hell yeah they want SUVs and trucks. Trade. Wars will speed up the process that. Could definitely be, a part of it however. We also need a leveling, of the of, the, Plainfield you can't have one party, levying. Ridiculous. Tariffs. And manipulating, currency, while.
The Other party has complete. Free. Trade so you got to have a balance, there definitely has to be a balance. Across. The board here so. Crypto. Is going to be the hedge Jeff. Rome, let's. See here and a, lot of ways the new Mustang how, we how'd we get into a full, car discussion, haha. Haha. And. Chef Rome that's right. Man. Now we get cuz it here talking about cars all night but you know what I think. I'm coming up on on a full hour here, I'm winding, down I'm, getting tired now it's almost midnight I got to wrap it up man I'm glad I'm glad you guys joined in okay, we definitely, had some good comments here, appreciate. The five dollars from my next coconut. Water crypto, seafood that's awesome, good to see you 1wb. Yeah, we can't forget about saw man sob, I saw, it first and I saw the sob I was thinking the the, Saudi Arabian, bank and sob. Yes oh man WB. Before I sign off on now and it's another one dude. Man. That that the, sob though Jim took sob over, and they, they, ever, since GM was involved, in, sob and they they owned a percentage of it they ruined, the front end a line, they've ruined the the, drivetrain, they. Ruined the. What. Am I trying to think of. There. They, always had there, was always, a continuous. Leak. In the in the power-steering when. GM first took over, Saab. Man. I had, I had multiple, sobs I'll, tell you what though man I like. Saab and GM did kill off Saab and that was unfortunate. But. When. When when. General Motors launched. Their. Their new the new design, this, was back in 2003. They, had the new design for the nine three in the nine five so, I got that first new design man, I loved, it it was a it was a four-cylinder. Turbo, before. That I had a convertible, before, that one I had a convertible, Saab. But. That 93, the. Last and then I had after, that the nine three turbo, then. I had a, another. 93, convertible. Which, was awesome and. Then I had a nine, three, Aero and I was a six peach stick. Six-cylinder. And that thing with a turbo, and that thing definitely had, a lot of power but. Man wildstar. Yeah the. The 900, series man, I loved the 900, series those were the I definitely look those in, the 900, series with, a turbo, those. Were a lot of fun definitely. A lot of fun so. Anyhow. Enough. Of the the, car talk and. Just. Like the worthless cryptos, that will be killed off Jeff, Rome ha, man. They're killing off every all the good stuff got killed off but I said the h2, was, was the the what I've got I got a leave off on that the h2 was, really, the. The worst the. Worst of it man that was that was the saddest, thing to see go because. That h2, truck man, that the Hummer that truck was a beast and I loved that truck that.
Was Awesome so. Anyhow. Yeah. Rain that's that's exactly Jeff Rome he started this whole conversation, on, car, talk and, we should have a crypto. Car Talk there. We go chip. What do you think about that crypto. Car talk, there. Could be a day of the week with crypto car, talk I like that that'd be a nice one oh so, just just a lead, off on the whole Ford thing. Volvo. Land. Rover, Jaguar. We're. All owned by we're. All owned by Ford. Volvo. And. And. Jaguar. Are now owned by a Chinese company, and Land, Rover was bought by Tata, Motors over in India so, that's, it. Any. Help all right that's. It this is Jeff. With it with uh with. Crypto, Car Talk a cart. Talk and, on. The, h2, I don't, think it would it was on the same chassis, but. It definitely wasn't, it. Definitely was not the Tahoe it. Was definitely a beefier, much, beefier platform. At a different engine engine. Was was was. Definitely, different than the, Tahoe or the Yukon but. It was based on the same platform, I. Believe. It used the same chassis as the Yukon, and the Tahoe. So. And then the h3, came out in the h3, was, a smaller. Version but, the age three actually. In off-road, vehicle, performance was. Competing, against the Land Rover which. Which, I can't believe so, did, you say card, talk, car. Talk, Karl. Talk. Haha. I did. Signing. Off on crypto. Car talk so. I'm really glad that, prefer. Whiskey talk well, we can talk whiskey and cars how about that, could. Be whiskey. Car cigar, night on. Anyhow. Crypto. Crypto, car talk. So. Anyhow I really appreciate everybody joining on, tonight it's late over here. Mid, day late. Morning over on, the, other side of the ocean somewhere. So. John. Doe Jeff, knows not. Only about Kryptos but cars to. Know. I've just told you everything I know about cars that's it. Automotive. Industry, but. Now. Anyhow so. That's. That's, what we're gonna sign off on right there Karl I think that's great so. Don't, trade it don't drink and trade either or, don't drink and stream so. But. Anyhow I appreciate. Everybody for joining on if you're on the, East Coast joining. On late at night if you're on the other side of the ocean in, Australia. And elsewhere you, know thanks for joining on early morning if you're from the west coast man you got no excuse, rain it's, still early out there and, you got the whole evening ahead of you so. With. The rest of us here on the East Coast are getting ready to go bed man, you can still go out and party, it up you got all sorts of stuff going on so. Anyhow. Definitely. Again appreciate, everybody being on. You. Know a big, shout out to the Land Rover discoveries. And the BMW. X7. For. Sure but. Look, forward to seeing everybody on the next stream tomorrow. Night is Thursday. That, means that chip. Is going, to be streaming, at 10. O'clock tomorrow and, I'm sure. A chip will be on time unless. You have people, that you got to entertain. Tomorrow, night as well, so. Jingle-jingle. Jungle. Ink and you will be doing a whisky stream, soon that's. Awesome, so. Awesome, all right guys I'm. Gonna sign off I'm, getting ready to end the stream appreciate, everybody, for being on and. Until the, next stream. You. Guys know what to do right. You got to keep haughtily in those crypto, I'll, check you guys out later thanks oh D. And I, don't. Want to forget that DN ion 9:00. To 10:00 Monday. Through Friday rain. On Friday, at. 10:00 p.m. so, let's all remember tomorrow, night is. Tomorrow. Night is chip, XRP minute ten o'clock and auburn, rain ten o'clock Friday. And then I'll join you guys again on Saturday, at, 8 a.m. so I check your eyes out.