The Greatest Ethereum Explanation of ALL TIME (in Under 10 Minutes)!

So what's hiding in PL sight today what Are too few people paying attention to We ready for a crypto pitch this is the Greatest ethereum explanation of all Time ethereum is a global Computing Network that allows anyone to tokenize And program any asset if you have a Friend that doesn't quite understand Crypto send him or her this they will Thank you you can start to see why more And more people see ethereum as a Complement to bitcoin as a non-sovereign Store of value for a digital world Bitcoin offers greater certainty of Supply but ethereum uh now pays a Dividend and is deflationary and the Upside here is quite big we ready for Crypto Pitch right about a decade ago an Unknown 19-year-old named metallic butan Came to our office at Ribbit to pitch us On his vision for making Bitcoin more Programmable now as you can see he Definitely didn't hold himself out as a Titan of Finance but for 10 years now We've watched as his vision has started To reimagine the underpinnings of Financial services and a lot More important ideas are like that they Take time to grow then one day they're Obvious in hindsight social in 2007 Mobile cloud in 2010 AI sometime the Last few years people worked on and Talked about these ideas for a long time

And then they picked up steam when the Conditions were right and that led to Trillions of dollars of gains for Investors who paid close attention So what's hiding in sight today what are Too few people paying atten to well I Think it's that thing that was so Certain of when he came to see us a Thing that Tim Cook described a year Later in a different way when they Launched Apple pay it's this word Tokenization tokenization also is not New uh we already tokenize a lot of Things we tokenize payment cards Credentials pii Visa Mastercard stripe Aden all these businesses thrive on Tokenization but this simple act makes Information more secure more useful more Interoperable and now it's picking up Speed tokenization is something that We're doing with more things and more Valuable things and in a way this is What ethereum is about ethereum is a Global Computing Network that allows Anyone to tokenize and program any Asset and by doing this in a reliable And trusted neutral way ethereum gives Us an independent system of property Rights on the internet This turns out to be really powerful but You don't have to take my word for it we Can just look at the data of what's Already happening on ethereum we have $88 billion of stable coins on ethereum

Now these are just tokenized dollars They're uh digital Travelers checks Basically but by putting a dollar on Ethereum you give it superpowers you can Move it anywhere 24×7 365 days a year Immediately and this is something no Legacy payment Network can match Ethereum is also home to1 13 billion of Digital art now digital art on ethereum May or may not be your taste but it's Already on display in dozens of the World's top Museums and ethereum's H to over hundred Billion dollar in tokenized collateral In financial contracts all ridden with Software on the network users swapped Nearly a trillion dollars on ethereum Last year all settled in real time all Without counterparty risk and we're just Scratching the surface these numbers are A fraction of 1% of these addressable Markets and we have many more assets to Tokenize we've got the ones we think of Like the $85 trillion in global equities And then we have the ones that we don't Think of but are growing really fast Like our personal data and the world is Full of Assets we could spend all our time Talking about just these Ideas now tokenization can and will Happen on other platforms but ethereum's Really in Pole Position more than 100 Million people own eth more than 100,000

People have contributed code to the Network coinbase PayPal Black Rock and Others they're all building on ethereum It's as if all of Visa's employees and Partners decided to become Evangelical Stockholders and work for Free but perhaps the best kept secret About all this is it has real investable Economics the network right now is Generating over7 billion in fees all Paid an e and all these fees fund a Programmatic buyback in dividend so when The network expands and entrepreneurs Building on top of ethereum have their Own success it drives value directly to Token holders at its current scale scale Of activity supply of e tokens is Actually Declining now two implications I want to Point out about this the first is eth Can be analyzed using traditional Financial tools you can build an Ethereum DCF and I think you'll be Surprised by how this pencils out when You had this recursive relationship Between demand growing and Supply Shrinking the second thing is you can Start to see why more and more people See ethereum as a complement to bitcoin As a non-sovereign store of value for a Digital world Bitcoin offers greater Certainty of Supply but ethereum uh now Pays a dividend and is deflationary and The upside here is quite

Big thinking back on that first meeting With vitalic I remember how far his Vision went beyond where we are today a Lot of things need to be built around Scalability usability compliance and More but it's all solvable uh so at Ribbit we just keep asking ourselves Like is there another ecosystem with This kind of alignment between users Developers companies and investors Are we paying enough Attention three things to leave you with The first is whatever we all think the World's interested uh the Bitcoin ETFs Are the first time everyone's had a path To participate and they've grown over Half theum of gold in three months Etha Is next second tokenization is really Powerful today and we could talk about a Lot of examples but the most inspiring Use cases will come from the future Things we didn't realize were assets Programmed in ways that we can't quite Imagine what happens when we start to to Tokenized specialized AI models what Happens when AI agents can buy sell rent And manage Assets and third tokenization has been Here for some time but ethereum is Really something new now to explain why I've got in with the wise man himself um Charlie Munger surely would have been he Would have hated being in a crypto pitch Uh but he

Said show me the incentive and I'll show You the outcome Steve Balmer once called Linux a Cancer and now it runs 95% of Cloud infrastructure so what happened When you take this dynamism of Open Source and you combine it with the Strong financial incentives of a Platform like Ethereum look we've had a decade to Watch this and think about it and it Really keeps surprising us so I'd Encourage you to give it your attention And open mind I have a strong feeling When we look back it will have all Happened in a Flash [Applause] [Music] Thanks thanks Nick Um how would you think about the odds That the incumbents use their maybe Temporary but powerful position to Launch a competitor kind like the way in A co-op the way they did MasterCard and Visa like on a 1 to 10 scale one to 10 I'd say uh maybe a two uh I think the Coordination costs are really high and You can build uh all the compliance and Programmability you need you have all The flexibility on a platform like Ethereum I think that doesn't mean the Incumbents won't be successful I think Visa can be the biggest issuer black Rock can be the biggest asset manager on

Ethereum but if we had asked IBM and Cisco to uh build the internet for us we Would have ended up with something much Smaller narrower and ultimately less Interesting so JP Morgan is the IBM of Banking we'll see what's your thought on Cryptocurrency right now and potentially Either accepting it through Apple pay or Otherwise um it's something that we're Looking at it's not something we have uh Immediate plans to do Uh for I would sort of characterize it As there are things that I wouldn't do Like Um uh our our cash balance I wouldn't go Invest that in crypto uh not because I Wouldn't invest my own money in crypto But because I don't think people buy an Apple stock to get exposure to Crypto and so if they want to do that They can they can uh uh you know invest Directly in crypto through other means Uh and so I wouldn't do that and I'm I'm Not planning to in the immediate future To take crypto for our products as a as A mean of tender uh but there are other Things that we're definitely looking at Like what um like I wouldn't want to Have anything to announce Today well let me ask you a different Question because you you just said that You might not do it personally do do you Own crypto any Bitcoin or ethereum would You play around with this I I do yeah I

Think it's reasonable to own it as a as A part of a diversified portfolio and I'm not giving anybody uh investment Advice by the Way when when did you get interested in It uh I've been interested in it for a While and uh I've you know been Researching it and and and so forth and So uh I think it's interesting

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