So I made a pretty big discovery of how the DTCC, banks, and others see DeFi (Blockchain crypto tech that allows for DEcentralizing FInance) and tokenizing of securities as not only a threat but also imminent.
"Tokenizing" stocks into NFTs means there is no fraud or manipulation in the markets like we have today and you eliminate the need for brokers and market makers while expanding features and lowering costs. This tech means you can kiss naked shorting, FTDs, synthetic shares, payment for order flow, dark pools, broker fees, unapproved share lending, and much more, goodbye!.
You have a fair market again where hedge funds aren't betting on Amazon while committing fraud to put smaller companies that amazon has targeted out of business so Amazon can absorb their market share.
The DTCC and their banker buddies are poising themselves to become in charge of management, governance and oversight by placing themselves in the middle and using banks as part of their system. All things that are not needed AT ALL. You program the rules / regulations into the system. That's it. It self regulates PERFECTLY. And Defi means you don't need banks for loans and all the other services plus you'll get better rates that you can compare from all over the world.
They KNOW this tech is right around the corner and it means the end of their system of control and they are scrambling to hold onto it and they will attempt to do it via regulation. The average lawmaker that prior to hearing about this new "immediate threat" they are making up, didn't even know the word defi existed and still doesn't know what it means meanwhile they will make regulation or legislation to address a threat that doesn't exist to a technology they don't remotely comprehend.
It's like hiring somebody both stupid and illiterate to host Jeopardy.
This article excerpt is one click from the landing page for the DTCC under category "DTCC Connection" and titled "FMIs Have a Crucial Role to Play in Advancing DeFi" By Jennifer Peve, DTCC Managing Director, Head of Strategy and Business Development
Article excerpt from 8th paragraph after they try to convince you you need SOMEONE to address the concerns / problems they just spent the first 7 paragraphs convincing you there would be....
Consider smart contracts that manage tokenised securities. While smart contracts could technically operate without any ‘owner’ and be truly decentralised, security and governance risks inherent to this model remain. There is also the possibility for FMIs to manage the smart contract, much like the approach DTCC is developing with its Digital Securities Management (DSM) service. Pending regulatory approval, DSM will employ technologies that allow for tokens to be held in a decentralised manner, with DTCC still providing governance and oversight, enabling more efficient processing and regulatory compliance.
Bullshit. I'll take a couple of genius code monkeys hopped up on Jolt soda that can write scripts to replace the need for their agencies, oversight, and selective enforcement. Then you offer a bug code and hack bounty and the best hackers in the world will test your system for you.
Then here's a link to the PDF of the publication called "EUROFI Regulatory Update" September 2022 issue that Jenifer Peve drew from that goes into much greater detail. It's a 80 page PDF but only a portion of that is addressing this issue. Page 65 is the beginning of the crypto section and page 71 is the start of DeFi and tokenized securities.
Just a quick skim of this is throwing up a lot of red flags. Basically it looks like the DTC and others are positioning themselves to be custodians and guardians over tokenized securities and other defi products that if built and implemented correctly would need virtually neither besides the initial rules and parameters programmed in to conform with laws, rules and regulations. It also seems they want to incorporate banks into the process. Saving their rich friends and systems they can keep market manipulation in place.
I just stumbled into this while I was grabbing a link to their website for an older holder lady I'm friends with (who bought and DRSd her shares!) that was asking me what the DTCC is and I didn't want to cuss so I was going to send a link.
I also noticed that Jenifer Peve misspelled both "tokenised" and "decentralised" showing that it surely will be neither.
EDIT: I did a little digging on Oh guys notice that statement is NOT coming from an expert in Defi, blockchain innovations, emerging markets, disruptive tech, or any relevant field or expertise. It's coming from the Head of Strategy and Business Development.
What's the description of the duties for people with that title?
A leadership individual who oversees an organization's or a company's revenue. They identify and develop new business opportunities to expand brand presence, profitability and revenue.
*The director manages business goals and existing business partnerships, manages marketing efforts, proposes strategies to expand market share, and researches emerging business markets. These individuals also manage business development teams and work closely with executive leadership, stakeholders, and business management.
Most directors of business development and strategy have a bachelor's degree in finance, marketing, business, or a related field, and many employers require several years of experience in sales and marketing. A director of business development and strategy should possess strong leadership, communication, organizational and interpersonal skills, as well as have expert knowledge in how to strategically grow a business's profitability.*
TL;DR The person pushing this is not qualified to facilitate or propose regulations to ANY tech. Their only interest is to expand and protect their companies profitability. Their primary responsibility is to their company over retail investors or government but they will strategically market it in any way that sells.
Well at least we are clear their strategy is to lie, cheat and steal to stay on top.
Her background is not without some red flags either. I would encourage some people with more time than me go ahead and archive her LinkedIn and background as it shows she clearly isn't in it to facilitate the best future for the market from an investors standpoint.
She previously worked for CME Group, Inc. is the world's largest derivatives exchange, offering a broad array of derivatives contracts, clearing services, market data and indexes products. She served as Executive Director of OTC Product Management with responsibility for CME’s cleared OTC credit default swaps
She has extensive knowledge across the entire product life cycle, including OTC, FX and FX Options, OTC Metals, Stock Lending, OTC Credit Default Swaps, OTC Interest Rate Swaps and Swaptions, OTC Total Return Swaps, F&O, Energy and Equities.
Jennifer currently serves on the Technology Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC) as well as FINRA’s FinTech Industry Committee and is the former Chair of the Enterprise Ethereum Alliance (EEA)’s Banking Working Group. She is a member of SIFMA’s Blockchain Roundtable
Sounds like she's plugged in enough to know Defi and tokenized securities would disrupt / eliminate alot of companies like the DTCC and the money they skim off the top and from the government and she sees the best strategy for them is to interject themselves into a unneeded control position via government regulation not actual necessity in order to continue to exist while exercising the control and power they've enjoyed as we try to move into the future.
She's also a proponent of Central Bank Digital Currencies which is a nightmare for privacy and freedom.
https://www.linkedin.com/in/jenniferpeve
https://www.dtcc.com/our-experts/jennifer-peve
Well so far the villains cast of this movie was a bit misogynistic but looks like we have diversity now! Congrats to our first female villain! of the GameStop saga!
Damn these mods are amazing! That was the quickest sticky I've ever seen!
If you don't really understand what NFT's are OR you THINK you do and that it means digital pictures / artwork (which is wrong) please take a look at this post I wrote on the subject and just SOME of the amazing ways this tech will improve our lives from business to actually owning digital media for the 1st time with all the rights that entails.
Basically NFT's will be a REVOLUTION of RIGHTS & SOVEIRGNTY... PERMANANTLY! Go read the post to get a taste of what's coming.
https://archive.ph/gFGTJ
This post archived in case something happens to your account. This is an amazing analysis you have here fren. It make pretty good sense to me looking at the basics at least.
Thank you for the good info.
Hey thank you so much!
Great info ! Thanks fren!
I'm not very up to date on it, but my understanding was the big potential is in contracts, deeds, law, and titles, ballots even. It's a very powerful tool for decentralization and transparency, and also resistant to counterfeiting.
However, in a system where people can trade an unlimited disreputable currency for limited property, no system is corruption proof.
No one is supporting this or proposing it. Care to explain what you mean exactly?
This is always a aet value in any system.
I disagree. If men control it sure, but if men made it that can be false. i.e. Bitcoin / distributed ledger tech....It's electronic and programmed to only have one owner at a time and can't be double spent. You and only send and receive it from a wallet you have the access to within the parameters it was programed to work in. That system has not been corrupted despite years of trying. Why? the tech is good and there's no one in control to change the paramotors or access them. Many such examples outside of crypto too.
Let me see if I can explain, bear with me, I am not an economics guy or a crypto guy, but US dollars and fiat in general are unlimited disreputable currencies. Crypto investors measured the value of, and traded cryptos, with US dollars. They bought a limited property with an illusory unlimited property. When institutional investment started pouring into the cryptosphere the crypto market almost immediately started following the market instead of being decoupled from it, as was the perception before institutional adoption. Then adding in USDC and tether and other assets like that made it even more compromised. They make fake money to begin with, and USDC let them make faker money.
In my view, they didn't need to corrupt the technology itself, they only needed to adopt it and accumulate it to corrupt it -- and only to a point they control the valuation and acquisition by controlling exchanges and brokerages and baskets and probably a ton of shit I am not even aware of.
That's just on the cryptocurrency side of the house. Using it for contracts, deeds, ballots etc is an unknown, but since it's use there is no tied to the money market big finance systems, I am much more optimistic for the tech there.
But also, consider the technology altogether may become completely compromised if/when quantum computing becomes accessable to the wrong people.
I think the drive to sell us on crypto as something that makes us safe from the corrupt financial system is just a grift. They invested in it, substantially, they don't care one way or the other what coins we use as long as they have more.
Very true at the present since we came off the gold standard. But only unlimited in the sense that a select few can increase the supply, not that it can be introduced at unlimited amounts and still retain any value. There is cash on the ground in the streets of Venezuela. People don't use it, they use crypto, labor or barter.
For the most part currently, yes since that is the prevailing metric however crypto doesn't require it to be and when the dollar collapses or we move off it you can price things in crypto or some other local, national or worldwide metric or the metric of max supply / scarcity of that crypto. No matter the value of the dollar or any currency 1 BTC will always = 1 BTC and one cheeseburger will always = 1 cheeseburger. It just takes a shift in what you think as your objective standard of measurement.
No they used the current prevailing medium of exchange and store of value that they owned earned from labor, the exchange of goods and services and other areas and traded it for another that was not unlimited. They didn't have unlimited access to the fiat they used.
I'm against USDC and USDT and in the future we won't need them. It's just the current yardstick.
Same. Check this post out I made a while ago
I understand and there are blockchain projects and tech out already that are quantum proof and as QC becomes more widespread so will protections and security.
They invested in it since they couldn't stop it. They are doing their best to try to centralize it and control it. Now if there wasn't a plan in place to remove these people, institutions, families, and groups from power and drain their wealth, holdings, and resources then that would be a much harder fight or just a tool of the underground or rebellion.
Ultimately we need to take the creation of currency out of the hands of government or at the very least go back to something akin to a gold standard that can't be decoupled and can't be tampered with. Maybe a treason / subversion clause to execute any person, politician or otherwise, that tries to do so. Men can't be trusted. A trustless system is our best hope moving forward. Governments that don't have access to unlimited money where working for the government is a TEMPORARY public service without the ability to profit or benefit groups or corporations are governments that would stay small and within the scope of their foundational scope and powers. Our founding fathers would freak the F out at the bloated system that exists today and the powers / impact that it can have on our lives. They would have made the foundational documents much more clear and listed what rights the gov does NOT have.
God hates dishonest scales and He is putting every enemy beneath the feet of Jesus as His footstool. If crypto is not His solution to this problem then He will provide it but for now it's the only weapon I see so I'll pick it up and wield it the best I can till He gives me a better one. God wins. Jesus bought it all with His blood. Every area of life, culture, and government will be reformed / replaced or removed for His glory.
Defi doesn't need a middle man..... but the beachhead they will successfully use is defi doesn't regulate defi! So, there might be 100 projects who do the right thing by their users.... but 1000 who are malicious! The users of those 1000 malicious defi projects then complain (and they have) to the likes of the SEC.
That then documents a PROBLEM and the SEC looks for solutions. Enter "interested party" who presents a solution to the SEC's documented "problem".... and guess who are the only ones putting forward "solutions" to address the malicious actors in the defi space that so many have complained about!
Defi should be taking a page out of the status quos book and moving forwards with a self regulatory approach. It's already documented that this model can be gotten across the line and if you self regulate..... you can move the line over time and move defi in the direction you want over time.
Problem is, the very idea of crypto/defi is DECENTRALISED, no regulators, no governance, no police, no protections..... So how TF do you organise a group like that into coming together to fight off the existing status quo from sinking its claws into it all!
The problem isn't the good defi projects..... the knee jerk reaction will be caused by all the BAD defi projects that scam 100's of 1,000's of hard working Americans out of their money and no one can do a thing about it!
That is what will CAUSE regulators to come in, they will go after the USD $ transfer routes so $ can't enter/exit the sector and strangle it into submission. They will use their treaties with foreign countries to bring the same pressure globally, those they don't have treaties with.... expect other "blunter" tools to be used.
I'm invested in the crypto space but people better wake TF up if they think governments can't kill it if they really wanted to! The thing to remember is that governments WANT crypto.... it's digital money with a IMMUTABLE transaction record and the blockchain can be algorithmically "mined" for transaction data to expose users!
Non-KYC'd wallets interact with your KYC'd CEX wallets, I've got 5 Non-KYC'd wallets and 7 CEX accounts and over the last 5yrs, all my non-KYC'd wallets have repeatedly interacted with 2 or more of my CEX accounts..... The transaction histories could be mapped and all those non-KYC'd wallets CLEARLY linked to my ID!
Code IS law..... But the codes intent is ONLY as good (or evil) as its developers!
Defi has a chance here to get in front of the status quo grabbing a hold of this and self regulate.... Failure to do that will see the defi/crypto space change more into the statur quo in the coming years instead of being the change most of us hope it will!
The problem is, most in the space ONLY look at it all from tge perspective of the space and think its a bubble and nothing can touch it.... That is setting it up for failure!
I love the way your mind works on this. Thank you again!
Self regulation doesn't exist. Bad projects and scam projects will go bust and people have to lose money. We need this to happen without anything resembling central bank bailouts.
At some point I envision defi insurance contracts which would be preferable to external intervention.
Oh guys notice that statement is NOT coming from an expert in Defi, blockchain innovations, emerging markets, disruptive tech, or any relevant field or expertise.
It's coming from the Head of Strategy and Business Development.
What's the description of the duties for people with that title?
A leadership individual who oversees an organization's or a company's revenue. They identify and develop new business opportunities to expand brand presence, profitability and revenue.
The director manages business goals and existing business partnerships, manages marketing efforts, proposes strategies to expand market share, and researches emerging business markets. These individuals also manage business development teams and work closely with executive leadership, stakeholders, and business management.
Most directors of business development and strategy have a bachelor's degree in finance, marketing, business, or a related field, and many employers require several years of experience in sales and marketing. A director of business development and strategy should possess strong leadership, communication, organizational and interpersonal skills, as well as have expert knowledge in how to strategically grow a business's profitability.
TL;DR The person pushing this is not qualified to facilitate or propose regulations to ANY tech. Their only interest is to expand and protect their companies profitability. Their primary responsibility is to their company over retail investors or government but they will strategically market it in any way that sells. Well at least we are clear their strategy is to lie, cheat and steal to stay on top. Her background is not without some red flags either. I would encourage some people with more time than me go ahead and archive her LinkedIn and background as it shows she clearly isn't in it to facilitate the best future for the market from an investors standpoint.
She previously worked for CME Group, Inc. is the world's largest derivatives exchange, offering a broad array of derivatives contracts, clearing services, market data and indexes products. She served as Executive Director of OTC Product Management with responsibility for CME’s cleared OTC credit default swaps
She has extensive knowledge across the entire product life cycle, including OTC, FX and FX Options, OTC Metals, Stock Lending, OTC Credit Default Swaps, OTC Interest Rate Swaps and Swaptions, OTC Total Return Swaps, F&O, Energy and Equities.
Jennifer currently serves on the Technology Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC) as well as FINRA’s FinTech Industry Committee and is the former Chair of the Enterprise Ethereum Alliance (EEA)’s Banking Working Group. She is a member of SIFMA’s Blockchain Roundtable
Sounds like she's plugged in enough to know Defi and tokenized securities would disrupt / eliminate alot of companies like the DTCC and the money they skim off the top and from the government and she sees the best strategy for them is to interject themselves into a unneeded control position via government regulation not actual necessity in order to continue to exist while exercising the control and power they've enjoyed as we try to move into the future.
She's also a proponent of Central Bank Digital Currencies which is a nightmare for privacy and freedom.
https://www.linkedin.com/in/jenniferpeve
https://www.dtcc.com/our-experts/jennifer-peve
Well so far the villains cast of this movie was a bit misogynistic but looks like we have diversity now! Congrats to our first female villain! of the GameStop saga!
Please updoot for visibility
Gimme my fucking tendies Kenny mayo boi!
I need to go back over this again as I only has time to scan and give a quick read to this and not even click on links but you have given us a really quality piece of writing here fren and I thank you for it. I am trying to learn more but I understand the basic concepts and agree of the potentiality of DeFi in general. It's so great to tap in to someone with more knowledge like yourself though and soak up a bit! So thank you.
(Because I am just that guy >>> you have a paragraph in there twice (I like both I really cant choose between Retarded Jeopardy and Colacoked out monkeys on Typewriters ahaha 😉)
Oh thanks, I'll fix that!
Good Article EXCEPT for DEFINITION OF DTCC:
"Depository Trust and Clearing Corporation" https://www.investopedia.com/terms/d/dtcc.asp
Why would ANYONE DO BUSINESS with a MIDDLE MAN that has connections to just about everything damn financial company(ies) in the world...
The OBJECTIVE OF BLOCK CHAIN IS: DECENTRALIZATION!!!!!!
That is why a person's computer will be the encryption/decryption right there on the spot...
ALSO, the encryption/decryption HAS TO TAKE PLACE LOCALLY AND THE NSA CANNOT BREAK IT...if the encryption is broken!!!!
article: https://www.popularmechanics.com/technology/security/a25894/end-to-end-encryption-explain/
I see of what we end of with is NOT what people want...UNTIL I A MORE SECURE FEELING ABOUT THIS--- MY ANSWER IS NO BUT HELL NO!!!!
NOTE : worked 10 years in the financial services and was in the technical side...
Hey I agree with you and want to know what a corporation is doing acting like a government agency while enjoying the protections that the government normally enjoys while committing the biggest act of securities fraud in history recently with the GameStop stock dividend
BINGO!!!!!!!!!!....AND thank you for your reply!!!!
🚀🚀🚀🚀🚀🚀 am ready, LFG! thanks for the high quality post, fren!
🚀 Bullish.
They are trying to get a hold on everything that is now threatening their control.
Tell me this. Is there any defi system today where I can do everything, including getting onto the system and getting off of the system without depending on a 3rd party? I could not find a single crypto where on ramp and off ramp to and from the regular currency was not dependant on some exchange of some kind.
The next requirement is for every operation we do in real world using that crypto, to be possible without depending on a 3rd party. This includes selling objects, transferring titles to properties, etc etc.
Without these two requirements, a defi system is just as good as the 3rd party's they depend on for these items meaning they are no good.
Here is what I envision. If I mined some crypto, and you wanted to buy some crypto, without using exchanges, you should be able to give me the money and a piece of paper with the digital signature identifying my wallet. The blockchain would then add an entry that reserves the amount of crypto agreed upon, and the resulting transaction can be printed on a piece of paper and given to you.
On the block chain the money is "reserved". I cant access it anymore. Anyone with that piece of paper and access to that wallet, can scan the paper into their wallet and viola - the reserved crypto in the blockchain gets transferred to that wallet.
Note, you can extend this to a "paper transaction" without tying it to a wallet. So I could just print some of the crypto on pieces of paper - each transaction reserved in the blockchain similarly (with an expiry date, after which it reverts back to me) and hand those paper around. Anyone you scans it into their wallet, gets that crypto.
These are just tips of the iceberg. We have to start envisioning a world without 3rd parties, whee true defi can be used for everything we do without risk.
LoopRing wallet already has fiat onramps as well as GameStop wallet. The offramps are coming soon.
And Layer2 transactions on the Loopring protocol are instant and cost pennies.
I still have bunch of LoopRing on the exchange. Whenever I tried transferring them to my private wallet the fees were exhorbitant. From what I understand it was running on ETH. Is it still the case? Do they have their native blockchain?
Yeah until you move them to L2 you will be paying fees in Eth unless you use Layerswap https://www.layerswap.io/ or a service like it.
But please don't trust strangers on the internet and check it out first.
Really good thoughts fren. You are definitely creating and envisioning a future that isn't there just yet - but will be 100% NECESSARY in order to float DeFi systems to the middle of this and make the access easy, all-inclusive and repeatable for any average Joe.... as far as I am aware no such thing exists yet
Although I want to say I was reading about an upcoming thing where that 3rd party exchange you touch on and which is so crucial to giving stability and legitimacy to the whole program was handled in-house ... idk quite enough to explain any better than that so I am gonna cut myself off here 😅
A casino without regulators is still a casino.
Ah but it's a casino where everyone can see the real odds and the house isn't using loaded dice AND you are only playing against yourself investing in companies that won't do well.
It returns us to the time where you could invest in a solid company and share in the profits when they were successful without the manipulation.
You've never invested in a REAL market before so
A tool used to enslave humanity without regulators is still a tool used to enslave humanity.
Dude you not only don't understand what you are talking about, you aren't even trying to understand it because you've already made up your mind and don't want to entertain the possibility of being wrong or even learning more.
Wrong, it's a tool. The tool didn't enslave anyone without someone using it to do so. A person with evil intent many times in secret. Transparency and parameters negate that. Imagine programming a ship that could never carry someone without their permission. That would have made the African slave trade impossible. What you're missing is that this tech allows for trustless transactions with complete transparency (in the system, not necessarily in the transactions which CAN be private) and within set parameters that can't be violated which is in every way better than what we have now and takes the lure of misuse via greed and power OUT of the equation and negates the need for institutions that over time become corrupted and used against us.
Youi don't remotely get it but people that do see this as a huge leap forward in liberty. Government institutions, international banking, regulatory bodies, and all the money and power surrounding them are obsolete. Your enemies become individuals again, not unassailable institutions that control infrastructure and more.
Good day.
Society has been DESIGNED to keep us chasing our tails and competing against one another. We live in a holographic universe [consciousness matrix]. Our reality is created by our beliefs and fueled by our emotions. https://youtu.be/bOYl1oqgDX4 . This is the secret that the powers that be understand and keep hidden from us.
I am afraid that you are the one that does not understand what you are talking about. The matrix has you. Quite literally.
Time to wake up brother.
So you aren't going to address anything I say (because in this reality and every other one you are wrong) and instead that nothing is real so I MUST be wrong (although you fail to tell me how EXACTLY) because we are enslaved in a matrix and.... this cracks me up ..... you said earlier the tech that will I was talking about will enslave humanity. The tech that takes power away from the government and gatekeepers and better than what's being used now in EVERY way will "Enslave" (as in sometime in the future) us. But we're already being controlled in a matrix right? We are enslaved then lol! Are there degrees of slavery? Maybe it's by skin color! Thats it! WE CAN END RACISM IF WE ARE ALL SLAVES!!! lololol.
Let me point out one thing....
That's not what the Bibles says. Now before you say the Bible isn't true or "the powers that be" wrote it let me stop you. You live in a matrix. You don't get to call anything true or false if it's created by beliefs and emotions. That's subjective and truth, by nature, is absolute. Therer are soooo many problems with the hologram / matrix BS but you don't want to listen and I don't wantot waste time. I'll tell you this tho....
You must be on the wrong website....
This is a Q site, not a matrix fan site for people that can't tell reality from fiction.
Q mentions "God" in 240 posts and "Jesus" in a handful of posts and uses Bible verses multiple times and even tells us directly... "Read the BIBLE. GOD WINS."
Q mentions "Matrix" only 2 times, once talking about the MSM mentioning red vs blue pill and the other time: Coincidence the Matrix (movie) grew people as a crop, used for energy, and controlled their mind? Literally telling you what everyone else seems to know the matrix was about. Oh and Agent Smith was obviously what a person uses to protect what they think when you tell them something that conflicts with what they think. The get hostile and attack you. It's "programming" from the systems in place i.e school & media.
So GTFO with your BS. God is real. Christ is king. Jesus is making all His enemies His footstool. And I'm not your "brother" by brothers and sisters are in Christ just like Q and the whole team who CLEARLY aren't telling us we're in a matrix. They are telling us to trust in God.
Go spread the devils lies somewhere else. You aren't helping and speaking out against both God and the tools of freedom He's blessing us with only helps the real enemy.
God is absolutely real.
Learn to control your emotions better.
Sorry for triggering you.
Oh so you just reject His Word? because....:
...conflicts with the Christian worldview and scripture. Reality is created by God, fueled by God and it's not a hologram.
The only emotion I conveyed was humor and passion. Where are you getting that I need to control them from?
You didn't trigger me. You say you believe in God but you don't stand up for Him when someone blasphemes Him or His creation? Even a dog protects it's master. How much more should I as His son.