Crypto’s KILLER Use Case? Report You Have To SEE!!

Crypto's killer use case is a Multi-trillion dollar opportunity This was what was said in a recent Institutional report about crypto the Killer use case in question is asset Tokenization which the report's authors Believe could soon be worth well Trillions of dollars however this only Scratches the surface of the Avalanche Of alpha that the report contains it's 165 pages also contain some bold Projections for blockchain nfts and Central Bank digital currencies so today I'm going to summarize the most Important parts of the report and tell You what exactly it could all mean for The crypto Market make no mistake this Is a video you do not want to miss The report I'll be summarizing today is Titled quote money tokens and games Blockchain's next billion users and Trillions in value it was published by Citibank on the 30th of March and I'll Leave a link to the full report in the Description I'll reiterate that it's Very long hence why I'll only be Summarizing a few parts now what's Interesting about the report is that it Was apparently co-authored by a few key Figures in the crypto industry this list Includes algorand founder Silvio mikali Ave founder stani kolechov Ava Labs President John Wu polygon Labs president Ryan Watt and even Zuko Wilcox the

Founder of zcash nice Now the report begins with a brief Introduction from Kathleen Boyle a Managing editor at Citibank who Presumably put this report together She commences by explaining that the Potential of blockchain has been Overlooked primarily because it's a Back-end technology not a front-end Technology like chat GPT she says that True blockchain adoption will be Achieved when quote blockchain has a Billion plus users who do not even Realize they are using the technology However she does not say this adoption Will come from crypto she says this Adoption will come from Central Bank Digital currencies or cbdcs not only That but she seems to imply that the Trillion dollar opportunity of asset Tokenization will come from the Blockchains that power these cbdcs not From cryptocurrency blockchains now this Is in stark contrast to what the crypto Headlines say about the report and it Underscores something important Whenever you hear an institution be it a Mega bank or a government talk about the Benefits and potential of blockchain Technology 99 of the time they are not Talking about cryptocurrency in almost Every case they're talking about private And permissioned blockchains that they Will control

This is why it's a bit scary to see Kathleen explain that blockchain needs Quote decentralized digital identities Zero knowledge proofs oracles and secure Bridges to achieve Mass adoption she's Probably not talking about the same Technology we use in crypto she's Talking about different technology Kathleen also notes that quote Regulatory considerations are also Necessary to allow adoption and Scalability without the hindering Innovation I'm going to give her the Benefit of the doubt here and assume That's a typo because otherwise she's Saying that Innovation is a hindrance to Tradify institutions well news flash it Is a hindrance In any case Kathleen and her crew Estimate that the mass adoption of Blockchain not crypto is six to eight Years away I can assure you that the Mass adoption of crypto will come much Sooner than that and the value of the Assets tokenized on cryptocurrency Blockchains will exceed the four Trillion dollars the authors are Projecting I can also assure you that The adoption of cbdc's and asset Tokenization on private blockchains will Be much lower than what the authors are Projecting that's because data from the Bank for international settlements the Bank for central banks shows that only 4

To 12 percent of people will voluntarily Adopt cbdc's the same goes for tokenized Assets on private blockchains if these Blockchains are controlled by Governments then having all your assets Tokenized means you won't truly own them They will be owned by the government This is exactly what entities like the World economic Forum are pushing for you Can learn more about how to survive the Great reset using the link in the Description I digress now the first part Of the report worth covering is about Cbdc's the authors project that between Two and four billion people will Voluntarily adopt cbdc's This is of course inconsistent with the Adoption projections from the bis and Real cbdc adoption in countries like Nigeria where adoption is at a fraction Of a percent The authors Begin by revealing that the Obsession with cbdcs comes from the fact That they will allow governments and Central banks to micromanage monetary And fiscal policy in other words they Will be able to control how much you can Spend how much you can save what you can Buy and so on The authors estimate that as much as 20 Percent of all the currency in Circulation will be converted into Cbdc's by 2030. this is unlikely given That governments and central banks are

Concerned about the mass adoption of Cbdcs because it would disrupt the Existing Financial system But let's not go there The authors then said something that Caught my eye quote the successful Launch and Adoption of cbdcs would lead To more stablecoin projects becoming Mainstream this is because the Stablecoin protocol is now able to hold Reserves in cbdc's which are more stable And liquid than money market instruments For context stable coins are currently Backed primarily by U.S government debt This is a double-edged sword because it Allows the US government to subsidize Its spending but also risks crashing the Bond market in the event of a stablecoin Run it sounds like stable coins will Soon be backed by cbdc's instead this is Concerning because if stable coins are Backed by cbdc's then it gives Governments and central banks de facto Control of all the Sable coins in Circulation this in turn would give Governments and central banks control of Cryptocurrencies whose ecosystems rely On stable coins such as ethereum these Aren't my words by the way ethereum Creator Vitale buterin said that stable Coins like usdc will have the power to Decide future blockchain forks with luck Someone will develop a truly Decentralized stablecoin that will

Protect crypto projects like ethereum From future stablecoin control And speaking of ethereum the authors Provide a list of countries that are Working on cbdc's and include notes About which Technologies they are using Australia and Norway appear to be using Ethereum as part of their cbdc Development though it's safe to assume That they will use some private version Of it To their credit the authors also provide A list of risks associated with a cbdc Rollout these include competition Between central banks because God forbid There's currency competition a loss of Privacy a loss of Bank deposits leading To financial instability and limited Adoption which isn't really a risk on That note the authors highlight the 0.5 Adoption rate of Nigeria's e-naira along With the apparent deepeg of the Bahamas Sand dollar due to its lack of use this Makes their projection of wide-scale Cbdc adoption that much more surprising They blame the absence of said adoption So far on a lack of financial literacy Well I would argue that financial Literacy is precisely why people aren't Adopting cbdc's and I'll take this as an Opportunity to direct you to our video About the differences between cbdc's and Cryptocurrencies You can bet that they're going to try

And Market cbdc's as cryptos as crypto Adoption continues more about that in The description Now the authors finish by providing Timelines for when some cbdcs will be Deployed they say a digital Euro will be Up and running around 2026 they say a Digital pound will be ready by 2030 they Say they don't know when a digital Dollar will be done and slam U.S Politicians for trying to stop its Development who needs checks and Balances anyway right Anyway the second part of the report Worth covering is about decentralized Social media or diesel unfortunately This is the shortest chapter in the Entire report this is a shame because Deso is extremely important due to the Increasing efforts of governments to Censor the internet If you watched our video about online Censorship you'll know that governments Around the world are in the process of Passing online censorship laws in some Places like the European Union these Online censorship laws have already Passed and are set to go into force in June this year This makes sense when you consider that Trust in institutions has been on the Decline for decades and fell off a cliff After all the pandemic restrictions Trust in institutions is crucial for the

Financial status quo to continue the Recent banking crisis is an example of What happens when that trust is entirely Lost This is why the authors note that quote Blockchain's ability to create a shared Immutable digital record of transactions Could also help users see where Particular information originated in Order to judge its credibility this Could help build trust The catch is that trust only exists when The blockchain is trustless the authors Also note the fact that with diesel Quote ownership of content and control Over the distribution channels remains With users this is required to resist Online censorship and it's the same Principle which underlies all crypto you Are only financially free when you own And control your assets Not surprisingly the authors include a Quote from Ave founder stani kolechov And the remainder of the section is an Interview with him this is because stani And the RV team are working on lens Protocol a decentralized social media Protocol that will serve as the back end For future diesel Platforms in studies Own words quote with lens protocol you Own your social profile Cryptographically as an nft it is Secured and guaranteed by the blockchain You are not locked into a specific

Platform and if you move between web 3 Applications you take your profile Content and followers with you Stani also believes that quote games and Social media might be the way that most Of the people get their awareness about The blockchain as a technology this is More significant than you think because It underscores one of the overlooked Reasons why people get involved in Crypto and that's Entertainment So far most of crypto's adoption has Come from speculation and some of its Adoption has come from necessity however The entertainment aspect has yet to be Unlocked and this is where the potential Lies In the case of diesel though I'd say That it will be adopted out of necessity Due to online censorship this ties into The third part of the report worth Covering which is about art nfts and the Metaverse the authors start by pointing Out that trust is important in the art World and that blockchain technology Builds this trust again this trust can Only be achieved if the blockchain in Question is truly decentralized The authors then fire off a few Statistics and Milestones related to Nfts these include the 69 million dollar Sale of people's everydays nft in March 2021 the popularity of crypto punks and Board apes and the 10 billion dollars of

Nft trading volume that took place Between March 2022 and February this Year The authors also note that most nfts are Stored on decentralized storage networks Such as the interplanetary file system Or ipfs and our weave what they fail to Mention is that nft infrastructure such As decentralized storage cryptos and Smart contract cryptos will see the Biggest gains from nft growth not Financial advice Now another thing the authors don't Mention is that nfts have escaped the Regulatory scrutiny that the rest of the Crypto industry is facing this could be Because nfts are analogous to Fine Art Which powerful people use to move money Around tax-free Regardless nfts seem to be a safe haven Of sorts in crypto what's odd is that The authors didn't really go into detail About the metaverse either they just Mentioned that it was being leveraged by Big name brands as part of their nft Campaigns I take this as a sign that the Metaverse hype has been thoroughly Choked out which could be a contrarian Indicator again not Financial advice Anyways the fourth part of the report Worth covering is about decentralized Identity the authors start with a spooky Sentence quote Decentralized identity is a core

Technology component that will enable Regulatory compliant uses of blockchain While still preserving Anonymous stroke Pseudonymous access Let's just hope it doesn't become Mandatory to use cryptocurrency Speculation aside the authors seem to Suggest that the purpose of Decentralized digital ID is not to do Things like interact with cryptocurrency Protocols but to be the quote identity Layer for the entire internet logically This means whoever controls this Identity layer will have unprecedented Power What's more is that the authors specify That decentralized digital ID quote does Not imply a lack of centralized parties In identity issuance or verification but That the mechanism of owning sharing and Verifying identity is done in a Permissionless decentralized manner this Is a problem and here's why if the Issuance and verification of a Decentralized digital ID is centralized Then the issuer or verifier has the Power to revoke your ability to interact With online services that's not Decentralization and it underscores the Need for crypto to find a way to both The issue and verify digital ID in a Decentralized way consider that a Decentralized digital ID tied to a Government-issue document is no

Different from a centralized stablecoin Now consider a scenario where your Government-issued ID is digitized like The cbdc's backing stable coins say did You know that governments want to roll Out digital IDs by 2025. more about that In the description moving on Naturally the authors say that the need For digital ID comes from the Relentless Data collection by big Tech what they Don't say is that most of these big tech Companies are aligned with governments And that these so-called decentralized Digital IDs will likely just provide This data directly to said governments The authors showcase the recently Released polygon ID as an example of a Decentralized digital ID solution and The infographic suggests that it's built In exactly the way the authors describe It there's a centralized issuer and Verifier you only control what you Reveal on chain Better than nothing I guess the authors Then provide an example of an actual Decentralized digital ID and that's the Ethereum name service or ens for those Unfamiliar ens basically lets you buy a Decentralized domain name ending in dot Eth it has no Central issuer or verifier It's entirely decentralized and is run By a Dao that said you could argue that Dowels aren't that decentralized due to Their governance structures but let's

Not go there now the authors appear to Argue that actual decentralized digital ID isn't a solution because it's not Tied to so-called verifiable credentials Such as government issued IDs instead They shill their version of Decentralized digital ID which they also Refer to as quote self-sovereign Identity remember that term The authors then provide a list of Examples of self-sovereign identities And include digital IDs being developed By the likes of Microsoft and the European Union to add insult to injury The authors omit centralized control as One of the risks associated with this Technology but seem to say that crypto Is a risk And the last part of the report worth Covering is about so-called smart legal Contracts The authors start with a statistic and That's that 60 to 80 percent of all Business transactions involve a contract They note that companies lose nine Percent of their profits and miss out on An additional 40 of profits from Bad Contracts What's confusing is that the authors Claim that Nick Sabo the creator of Smart contracts is also the creator of Smart legal contracts They later clarify that smart legal Contracts are an official subset of

Smart contracts with no concrete Definition The main difference is they don't Involve blockchains Smart legal contracts are also legally Enforceable in their countries of origin By contrast smart contracts do not have Any legal backing but some countries are Passing regulations to change this this Begs the question of why smart legal Contracts are required at all and the Authors reveal the answer quote smart Legal contracts are more Dynamic to Changing circumstances to achieve legal Compliance they must include terms that Allow them to be paused modified or Rectified it sounds like the authors are Insinuating that smart contracts cannot Be legally compliant due to their Immutability if smart legal contracts Don't exist on blockchains can be Adjusted on a whim and occasionally Require human execution as noted by the Authors it then begs the question of What makes Smart legal contracts Different from a standard digital Contract the authors don't have a clear Answer here to their credit they do Concede that smart contracts are likely To be much more popular than smart legal Contracts because they provide the Following benefits they can exist Indefinitely they are transparent they Are tamper-proof they are secure and

They are built on a single source of Truth something tells me that one of the Co-authors paid a lot for this section Because it's quite long and consists of The authors tripping over themselves to Try and explain why smart legal Contracts are the future despite there Being objectively inferior to Smart Contracts they mention ethereum by name Bullish So this brings me to the big question And that's what citibank's report means For crypto Well if anything it reveals that Institutional investors are looking at The crypto industry through a radically Different lens from us retail investors Cbdc's de facto digital IDs and Changeable smart contracts are not Crypto As you might have noticed the few Sections of the report which were about Crypto were much shorter in length than The ones about dystopian Technologies Inspired by crypto you'll recall that The chapter about decentralized social Media was the shortest of all and to my Mind that is not a coincidence consider That the purpose of cryptocurrency is to Replace megabanks like city as well as Most of the institutions that the other Authors work for the first step to this Replacement is the awareness of what Crypto offers and why it's valuable this

Information can be found on social media Platforms for now I say for now because Late last year we were fact checked on Instagram for sharing a factual meme About cbdc's and we actually made a Video debunking the fact check To be fair this could have been due to The origin of the meme the website which Created the meme had itself been fact Checked before What's harder to explain however is that Leaked documents from the Department of Homeland Security Explicitly stated that the U.S Government was looking to censor Information on social media that Fosters Distrust in the financial system we Actually made a video about that too It'll be down in the description Now if you're still doubting that the Government would resort to censoring Financial information look no further Than the recent banking crisis in the Subsequent hearings about the crisis Multiple U.S politicians pointed to Social media as the cause of the bank Runs which precipitated it and if you Watched our video about Bank balins You'll know that U.S government Officials discussed censoring Discussions of Bank runs on social media In their Bank Balin simulation late last Year it's possible if not likely that Other governments are secretly

Considering the same behind closed doors Now the reason I mention all of this is Because I believe citibank's report is a Part of what can only be described as an Ongoing information war against Cryptocurrency by The Establishment Another example is mainstream media Articles about how Bitcoin mining is Killing the planet which is not true at All When it becomes clear to The Establishment that they are losing this Information War then they will resort to Censorship to ensure that the trust in Their increasingly unstable Financial System remains standing I believe this Turning point is coming sooner than People think because everyone is waking Up to cbdc's people are also starting to Wake up to the fact that not all Cryptocurrencies are created equal and Some crypto projects companies and Technologies are being co-opted by The Establishment to usher in a dystopian New system This system requires a digital ID and Fake decentralized digital IDs are the Trojan Horse Always remember that blockchain does not Equal crypto and take every statement About crypto from Mega Banks and central Banks with a massive grain of salt The same goes for any headlines which Talk about how Mega Banks and central

Banks are embracing crypto chances are They're doing the exact opposite And that is all for today's video folks So if you found it informative smash That like button to let me know If you want to make sure you don't miss The next one subscribe to the channel And ping that notification Bell if you Want to make sure that your crypto Friends and family are in the know well Send them this video If you want to make the most of the Crypto market then head on over to the Coin Bureau deals page for massive Discounts on crypto hardware and Software and thousands of dollars of Trading incentives on the top Cryptocurrency exchanges you can find Your way there using the link in the Description thank you all for watching And I will see you next time till then Satoshi be with you Thank you

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