BRICS CBDC will destroy the USD (XLM = Gold) | XRP/Velo

BRICS CBDC will destroy the USD (XLM = Gold) | XRP/Velo

[Music] to two today we will talk about xrp xlm vo and the connections into bricks because they are exploring creating a stable coin for Global cements and 98% of the global central banks are researching piloting or deploying cbdcs and we’ve got 40 countries have now applied to join bck in 2024 as Zimbabwe’s VP is talking about an introduction of a new goldback currency which is a step towards eventually phasing out the use of the USD in the E economy we also have some information on how Zimbabwe is connected to stellar and xlm with these goldback digital tokens which all tie into a cryptocurrency based esdr and what you’re doing is we’re putting together a process framework a governance framework for banks to tokenize their asset on this network uh for example you can tokenize from money market fund to to bonds to equities uh to deposits uh and and and put that representation of the network and allow it to move between the between two parties uh today in Singapore almost uh close to dozen banks are already personalizing their asset on the network U Standard Bank just announced I think few few months back they’re tokenizing their trade receivables UBS uh is tokenizing their money market fund uh JPM is tokenizing the deposits uh so you can see that switch is happening already and from a from a market efficiency perspective you are dramatically reducing the operational processes out of the system so we feel that without going into the complex definition of what token is from a legal standpoint or from a from an academic standpoint I look it as pure a tech Delight complete Tech Delight you take that piece of asset put it in the network where you can mix two things the value of the asset and ownership of the asset in the single piece of token and if I can get the network govern properly you can move the asset among ourself without the need for people to reconcile between databases a bit more on the Zimbabwe gold tokenization on Stellar The Reserve Bank of Zimbabwe is about to issue RBZ which is a goldback digital token on Stellar yuru I am just attempting that is a decentralized wallet which is adopting Stellar as a core technology integrated by The Reserve Bank of Zimbabwe the RBZ has onboarded yuru innovative solutions which is a fintech firm behind the WhatsApp based payments solution as a result of this coming together and how it has harnessed the Stellar Network it has created a platform specializing in low and mid value payments that enable users in Zimbabwe and South Africa to make instant payments using stable coins and as we see on the combined map here of the different continents and their connections into things like xrp and xlm there are are deep deep ties into the commercial Banks central banks and institutions in pretty much each and every country that is now involved in bricks and that is trying to get into bricks officially and to relate that into vo a bit more because it does have heavy ties into Stellar n xlm and it even has ties into Ripple and xrp is what Hil ruro was referring to about vo in reference to Bricks if there is more USD outside of the USA and vo is providing a way to bypass that in order for countries to save what will be the value of Veo V equals no USD the goal is to bypass the US USD in remittances and crossborder payments what is the goal of bricks isn’t vo attached to China India and Africa V is a stable coin and on that note I have talked about how that protocol and process actually works which does not mean that V itself is or will be pegged is more of how the vo token is used to collateralize stable coins within its own platform and I did talk about that in the video here about a v CB DC which what was actually paired by a moderator in the official V telegram group and a lot of that comes back to my hypothesis that xrp and xlm each effectively representing the same value in the financial system in different ways and how vo ties into stellar and then ties into IBM which connects pretty much everything on this map here that is a extremely highlevel overview of the connections involved and to get back into the IBM tie-in here here the IBM hyper Ledger is tied into pretty much everything that I talk about a lot you’ve got xdc Quant xlm harar Casper and xrp but that is because they are all tied into the hyper ludger in one way or another and from what I have shown I think that because IBM came to Stellar in order to create IBM world wire back in about 2018 and with the upgrades that the Stellar consensus protocol has implemented I think that IBM World wire and IBM hyper Ledger are at the point where they are pretty much a different name for a platform that is operating on the Stellar consensus protocol and to expand on my ideas here about how xlm and xrp and even shx Belo and xdc are involved we’ve got here that xlm equals retail and xrp equals bank to bank and I think that is on the right track and it is a very high level summary of what that can eventually become once we have regulations and adoption of these different kinds of instant payments forms but it just goes to show how all of these connections that come back into xlm and xrp are popping up everywhere here is more on xrp and xlm this is from the monetary authority of Singapore and it is in partnership with the World Bank IMF un and a lot of other entities that directly tie back into xrp xlm and IBM where it calls out that Stellar is an open source blockchain that connects the world’s Financial infrastructure and how the XTO DLT is based on a modified xrpl to support private permissioned clusters for each financial institution the global cbdc challenge uses exto eom biometric smart cards modified crypto wallet client and xrpl as the Baseline for exto wallets and EXO DLT so it’s just another point to make that the things that people like me and others talk about in relation to how xrp and xlm and how they are both connected to the exact same individuals and entities that have a lot of importance in the traditional payment space and in the crypto payment space all tie back into bricks countries and the relationships that have been established in the last five to even 10 years and I’ll be talking about the IMF a lot here and on April 11th of 20124 we have an article about how the IMF prepares Financial Revolution to say goodbye to the USD Global Reserve currency status allows for amazing latitude in terms of monetary policy the Petro dollar Monopoly made the USD essential for trading oil globally decades and as we see here again with all of the ties in between xrp and xlm into all of these countries that don’t want to transact in USD it begins to become more obvious where we are actually headed here in terms of bricks creating their own way to transact amongst each other without touching the USD only Ripple’s stablecoin and black Rock’s usdc will be legal in the US and that is primarily in response to the new stablecoin bill that is making its way into the US House and if we are interpreting this right usdt is operating illegally according to the new bill and yes there are things in there that are not great but just because it is being reviewed right now does not mean that it won’t be changed and I don’t trust the two individuals who put this into the house but it is an extremely interesting starting point for what seems to be the of Regulation and adoption that might begin in 2024 and here’s a little bit more on the tether ties a payment stable coin issuer that Mis represents a disclosure shall be subject to the Penalty the FDI act or Title 18 of the US code and Title 18 is all about crimes and punishments algorithmic payment stable coins it shall be unlawful for any person to engage in the business of issuing creating or originating an algorithmic payment stable coin it shall be unlawful for any person to engage in the business of issuing a payment stable coin directly or indirectly in the US through any means or instruments of Transportation or communication it shall be unlawful for any person to offer or sell a payment stable coin or to offer or sell a payment stable coin to a US person the term National payment stable coin means a depository institution chartered by the comproller or a state bank supervisor which is approved to conduct payment stable coin activities and a payment stable coin is an asset that is or is designed to be used as a means of payment or settlement in which the issuer is obligated to convert redeem or repurchase for a fixed amount of USD so what that means is that if it’s not created and organized and maintained in a way that is directly backed with USD and is in compliance with a lot of other things that are essentially just there to restrict and control then it won’t be able to be implemented and it’s interesting that Ripple is creating a stable coin right now where they have said that it will will be directly backed by USD there is no time to waste on us stable coin legislation Congress must move quickly to pass tailored legislation providing regulatory Clarity to us-based stable coin issuers following the successful launch of Micah the framework for this crypto legislation in the EU will be exported to other jurisdictions the current SDR is limited by the USD as it is centered by the dollar which gives the USD too much importance meanwhile 2024 JPM confidential reports call out the abandonment of USD as a reserve currency caused by a crypto Challenger cryptocurrency esds will end up as a stable coin and will end up on a block blockchain Tech which provides new functions in the digital economy which will enable everyone not as Banks to hold and use payments with central bank money esrs are for everyone not just Banks an ecurrency esdr for digital currencies has been proven to handle high volume in retail production and proof of concept environment ments since 2014 in five different countries an esdr is a super Sovereign currency that would regulate Global liquidity and currency stability the internet and blockchain Tech allows a new decentralized international digital monetary system issuance and of the esdr could be issued and managed by a Consortium of private sector financial institutions rather than a multilateral organization like the IMF this private sector Consortium could include Banks payment providers and other Financial Services firms that have an interest in improving cross border payments is a crossborder cross currency platform proposed by the IMF which is a collaboration between central banks and payment service providers to enable payments on a shared general ledger which is likely how an esdr would come into effect and I have talked about ties into the IMF XC platform guarding stellar and xlm XC has a centralized multicurrency foreign exchange trading environment which allows for the introduction of contracts and policies to control FX exchanges which is pretty much what this kind of cross border platform would entail because you are using some kind of a crypto platform to transact in between different currency pairs xrp as an esdr which is backed by the deposits of central banks and involves the major currency of the world special drawing rights to countries over a public budget and fed now is extremely involved in tokenized deposits the idea of a digital representation of a deposit or a store value to use also a as a means of transaction is something that the banks themselves are innovating in and are looking at Via tokenized deposits and blockchainbased deposit accounts and I have talked a lot on that topic that has a ton of ties into xrp fed now’s connection to crypto fed now is a 247 system which means that it is relying on private sector crypto-based Solutions and a Fed cbdc will be an enhancement of now here is further evidence that the FED has been experimenting with cbdcs for a long time if you think that one will not come to the US think again it will be a CB DC backed stable coin AKA a stable coin and I have said that the perception of political resistance to a cbdc in the us is only a political orchestration the US is involved in tokenized deposits right now which is just one step away from being able to easily introduce a cbdc

BRICS, Gold, and Digital Money: The Future of Finance?
Ever heard of BRICS? These fast-growing economies (Brazil, Russia, India, China, South Africa) are making waves in the financial world. In this video, we’ll dive into three hot topics:

Zimbabwe’s Gold-Backed Token: Struggling with inflation, Zimbabwe is using the Stellar Network (XLM) to tokenize its gold reserves. Is this a recipe for stability?
BRICS and CBDCs: Central Bank Digital Currencies (CBDCs) are all the rage, and BRICS nations are exploring their own. How might this change global finance?
XRP, XLM, Velo, and BRICS: Companies like Ripple (XRP) and Stellar (XLM) are partnering with BRICS countries. Is there a connection? We’ll explore the links and what it means for the future.
Bonus! We’ll also discuss the International Monetary Fund (IMF) and its potential involvement in a digital currency called the eSDR. How do XRP and XLM play into this, and what does it mean for CBDCs?

Get ready to explore the future of finance! Like, subscribe, and hit the notification bell to stay ahead of the curve.