The Dominant Network will Arise - Crypto Bitcoin XRP Ripple ALGO QNT XDC

My videos are for entertainment purposes only.

We are at in inflexion point in the world economy and in the world. A significant change in the world is coming. The governance of global affairs will have a new order. Money will be redefined.

I was asked about project dunbar and if it replaces XRP. This new order needs trust. Project dunbar and other cbdc projects are centralized system that use cryptography. They are experiments by the BIS to swap CBDCs. When we talk about private and permissioned systems that means there are a few that rule the network. They can remove funds from one account and put it another if they want. Whatever the nodes on the network agree to. Now it may not seem like the central banks are going to cheat the system and remove funds but think about the sanctions that just occurred. Why would any nation other than the top nations want to use a platform that can freeze their assets? Private systems that r3 has built or consensys or bitt have built systems where the few control the network. The other issue with private networks and a few nodes is those nodes secure the network. The more nodes the harder it is to cheat consensus or hack the network. If you were a hacker and could corrupt 3 nodes agreeing a transaction happened vs if you have 100s of nodes that have to agree if a transaction happened. sanctions russia ukraine crypto bitcoin xrp the standard.

Bitcoin maxis will tell me Bitcoin is set up for the reserve currency. Bitcoin certainly has a lot of nodes on their network. Every miner helps to decentralize the network but when we are talking about nations using a reserve asset it would cost 36 Billion to control the network. Well that’s a lot of money, the US spends Billions on a b52 bomber.

Well what about proof of stake coins? Proof of stake allows the biggest stakeholders on the network to have the most say in consensus. So again whoever has the most wealth can change the transactions.

The xrpl on the other hand does not cost much to help decentralize the network. The more validators and nodes that a country would add would just secure and decentralize the network further. THE IMF wrote a pdf on different consensus mechanisms a while back and incentivized consensus was an issue. IE mining and proof of stake.

There is an erosion on the dollar as a reserve currency. The XRPL is currency agnostic meaning any currency can be added to the XRP PROTOCOL. Ripple is an American tech company. The protocol that can compete with Chinas payments platform is Ripplenet. Now Anja is saying if we don’t match china we will lose dominance. If Ripplenet were to have a large network the US will have a say on the rules of ripplenet. While if China creates the dominant network China will have say in the rules of the network. China has a correspondent banking system they don’t have to follow kyc aml its only when they participate in the US banking system those rules apply. By losing swift the US can no longer sanction and by SWIFT being outdated there is a need to migrate to the next faster cheaper more secure network. Anja Manuel is a ripple board member but she has helped written foreign policy with India and China. Her firm Rice, Hadley and gates. Rice stands for condelzza rice

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