The Crypto Mystery: Direct or Inverse Relationship?

Hodor

Hodor

I blog about Ripple & XRP. FULL DISCLOSURE: All views are my own. I do not work for Ripple; I am not a professional financial analyst, and the majority of my crypto holdings are XRP.

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Nobody has a perfect crystal ball when attempting to divine the future direction of the economy.

But one leading indicator is closely correlated with economic downturns: The sales of recreational vehicles.

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And sales are down.

Another fact I didn't know in relation to this topic? Most RVs in the United States come from Elkhart County in Indiana.

Starting in the mid-1930s, several trailer manufacturers set up shop there, drawing the suppliers to locations that were closer and more profitable; the trend built on itself that way, attracting even more manufacturers, until the county had a near-monopoly on RV production.

In any event, RV sales are declining, and this is universally regarded as an indicator of what's to come for the overall economy in the United States.

Demand and Volume

Will the demand for digital assets increase during an economic downturn, or will it decrease? What about payment volume as people act to buy more or sell more?

This question reflects a mystery that many in the cryptomarket disagree about: Does the demand for digital assets - and XRP - move directly or inversely?

Thus far, the cryptomarket hasn't been measured against any significant downturn or recession. However, it's inevitable that we'll see this eventually, and we can look at some anecdotal evidence for what to expect.

Safe Havens

During times of economic turmoil, the demand for so-called 'safe haven' assets increases.

These safe-haven assets have historically included gold, silver, and precious metals. They also include state-issued debt instruments and cash itself.

But low - or even negative - interest rates have lowered the popularity of storing value in a bank account. And the value of bonds and debt instruments is also problematic because of the amount of time involved. Investors typically don't plan on investing in a multi-year bond or annuity just to hedge against a temporary six-month downturn, for example.

So what about digital assets?

The laughable characterization of Bitcoin as 'digital gold' may prove to be tragic, as cryptocurrencies will ultimately be judged according to their utility, not because of the nonsensical use case of 'storing value.'

My guess is that, if investors wish to use cryptocurrencies as a safe haven asset, they'll opt to chose one that exhibits the strongest utility and value based on its performance capabilities and liquidity. Only XRP rises to heights that eclipse the value proposition from other choices in the cryptomarket.

XRP has, by a very wide margin, the most powerful and effective championing organizations, the most modern technology, the most robust set of features, and the most interoperable ecosystem of surrounding tools.

XRP is the obvious candidate for retail investors looking to augment their stock-heavy portfolio with an entirely different asset class; an asset class that may just serve as a refuge for investors in a financial crisis.

Ripple News

Ripple just published a very helpful post on Insights, their web page for blog posts. The article describes how xRapid works, but interestingly enough, it doesn't use the label 'xRapid.' Instead, the author consistently chose to use the synonym 'On-Demand Liquidity,' which is also how the website location of the prior xRapid content was rebranded at some point.

It's one of those marketing changes that probably has a convincing reason; and it is definitely xRapid that the article describes.

Regardless of the label for the software solution, the paper does an excellent job of describing how xRapid works, and answers some of the questions that are most frequently asked about the process.

The concept of how XRP saves money via its use as a bridge asset is described using a concept diagram:

xrp_bidirectional

Another noteworthy point about the article is that it emphasizes the elimination of the need for Nostro - vostro accounts:

"๐˜ˆ๐˜ต ๐˜ฏ๐˜ฐ ๐˜ฑ๐˜ฐ๐˜ช๐˜ฏ๐˜ต ๐˜ข๐˜ญ๐˜ฐ๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต ๐˜ซ๐˜ฐ๐˜ถ๐˜ณ๐˜ฏ๐˜ฆ๐˜บ ๐˜ช๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ถ๐˜ด๐˜ฆ๐˜ณ (๐˜ด๐˜ฆ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ ๐˜ฐ๐˜ณ ๐˜ณ๐˜ฆ๐˜ค๐˜ฆ๐˜ช๐˜ท๐˜ฆ๐˜ณ) ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ธ๐˜ช๐˜ต๐˜ฉ, ๐˜ฐ๐˜ธ๐˜ฏ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ณ ๐˜ฉ๐˜ฐ๐˜ญ๐˜ฅ๐˜ช๐˜ฏ๐˜จ ๐˜ฅ๐˜ช๐˜จ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด."

The blog also explains that there is little-to-no volatility risk associated with the way this transaction dynamically sources liquidity at exchanges:

"๐˜›๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต ๐˜ฑ๐˜ณ๐˜ฐ๐˜ท๐˜ช๐˜ฅ๐˜ฆ๐˜ณ๐˜ด ๐˜ต๐˜ข๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ข๐˜ฅ๐˜ท๐˜ข๐˜ฏ๐˜ต๐˜ข๐˜จ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ด๐˜ฆ๐˜ณ๐˜ท๐˜ช๐˜ค๐˜ฆ ๐˜ฅ๐˜ฐ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ฆ๐˜น๐˜ฑ๐˜ฐ๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ต๐˜ฐ ๐˜ท๐˜ฐ๐˜ญ๐˜ข๐˜ต๐˜ช๐˜ญ๐˜ช๐˜ต๐˜บ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ๐˜ญ๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ฅ๐˜ช๐˜จ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต, ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ค๐˜ข๐˜ด๐˜ฆ ๐˜Ÿ๐˜™๐˜—, ๐˜ฃ๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฆ๐˜น๐˜ฑ๐˜ฐ๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ช๐˜ด ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ญ๐˜ช๐˜ฎ๐˜ช๐˜ต๐˜ฆ๐˜ฅ ๐˜ข๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜Ÿ๐˜™๐˜— ๐˜“๐˜ฆ๐˜ฅ๐˜จ๐˜ฆ๐˜ณ ๐˜ด๐˜ฆ๐˜ต๐˜ต๐˜ญ๐˜ฆ๐˜ด ๐˜ฆ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ต๐˜ฉ๐˜ณ๐˜ฆ๐˜ฆ ๐˜ด๐˜ฆ๐˜ค๐˜ฐ๐˜ฏ๐˜ฅ๐˜ด ๐˜ฐ๐˜ฏ ๐˜ข๐˜ท๐˜ฆ๐˜ณ๐˜ข๐˜จ๐˜ฆ."

In addition to confronting any concern over volatility, the author also points out that, ultimately, the cost savings of using XRP will power Ripple's solution to higher levels of adoption:

"๐˜‰๐˜บ ๐˜ฆ๐˜ญ๐˜ช๐˜ฎ๐˜ช๐˜ฏ๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ฑ๐˜ณ๐˜ฆ-๐˜ง๐˜ถ๐˜ฏ๐˜ฅ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฎ๐˜ข๐˜ช๐˜ฏ๐˜ต๐˜ข๐˜ช๐˜ฏ ๐˜ข๐˜ค๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต๐˜ด ๐˜ช๐˜ฏ ๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต๐˜ณ๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ค๐˜ณ๐˜ฐ๐˜ด๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜จ๐˜ญ๐˜ฐ๐˜ฃ๐˜ฆ, ๐˜ง๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ช๐˜ข๐˜ญ ๐˜ช๐˜ฏ๐˜ด๐˜ต๐˜ช๐˜ต๐˜ถ๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ฆ๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ๐˜ญ๐˜บ ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ต๐˜ฐ ๐˜ฅ๐˜ฆ๐˜ญ๐˜ช๐˜ท๐˜ฆ๐˜ณ ๐˜ฏ๐˜ฆ๐˜ข๐˜ณ-๐˜ช๐˜ฏ๐˜ด๐˜ต๐˜ข๐˜ฏ๐˜ต ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ฏ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ญ ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด ๐˜ข๐˜ต ๐˜ข ๐˜ญ๐˜ฐ๐˜ธ๐˜ฆ๐˜ณ ๐˜ค๐˜ฐ๐˜ด๐˜ต.

๐˜›๐˜ฉ๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ฏ๐˜ฆ๐˜ง๐˜ช๐˜ต๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ด๐˜ฆ๐˜ณ๐˜ท๐˜ช๐˜ค๐˜ฆ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ท๐˜ช๐˜ฅ๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ถ๐˜ด๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ฏ๐˜ฐ๐˜ต๐˜ช๐˜ค๐˜ฆ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ, ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ด๐˜ข๐˜ท๐˜ช๐˜ฏ๐˜จ๐˜ด ๐˜ฐ๐˜ง ๐˜ถ๐˜ฑ ๐˜ต๐˜ฐ 54% ๐˜ฑ๐˜ฆ๐˜ณ ๐˜ต๐˜ณ๐˜ข๐˜ฏ๐˜ด๐˜ข๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ."

It's this last part that is the most important, ultimately, to remittance processors. Real-time settlement is very important, and XRP delivers on that with real-time settlement; and equally important is the cost savings that using XRP can provide to banks and remittance processors.

OECD

Ripple sent three representatives to the OECD's latest meeting, which took place from September 12แต—สฐ to September 13แต—สฐ in Paris, France.

Ripple sent the following individuals to the assemblage:

  • Breanne Madigan, Head, Global Institutional Markets, Ripple
  • Liz Chien, Vice President of Global Tax and Chief Tax, Ripple
  • Marjan Delatinne, Global Head of Banking, Ripple

All of them participated in separate panel discussions that targeted areas of expertise for each individual. And just days later - which is relatively quick for conferences - the OECD published videos of each of the panel discussions.

The OECD chose to publish the videos on their own site for direct download; they were then uploaded onto YouTube by an XRP Fan, The Crypto News Outlet (YouTube Channel):

Session: 'Can Blockchain Technology Reduce the Costs of Remittances?'

The session 'Can Blockchain Technology Reduce the Costs of Remittances?' was facilitated by Robert Patalano, the Coordinator for the Committee on Financial Markets and the Directorate for Financial and Enterprise Affairs at the OECD.

If you want to skip ahead at some point to the portion that includes Breanne Madigan, it begins at around the twenty-five minute mark:

One of my favorite quotes was offered during her introduction:

Answer (Breanne Madigan): "... ๐˜ธ๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜™๐˜ช๐˜ฑ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ช๐˜ด ๐˜ฒ๐˜ถ๐˜ช๐˜ต๐˜ฆ ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ข๐˜ต๐˜ฆ๐˜ฅ ๐˜ช๐˜ด ๐˜ต๐˜ฉ๐˜ข๐˜ต, ๐˜ช๐˜ฏ ๐˜ฐ๐˜ถ๐˜ณ ๐˜ฃ๐˜ถ๐˜ด๐˜ช๐˜ฏ๐˜ฆ๐˜ด๐˜ด ๐˜ฎ๐˜ฐ๐˜ฅ๐˜ฆ๐˜ญ, ๐˜ธ๐˜ฆ'๐˜ณ๐˜ฆ ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ฎ๐˜ถ๐˜ค๐˜ฉ ๐˜ง๐˜ฐ๐˜ค๐˜ถ๐˜ด๐˜ฆ๐˜ฅ ๐˜ฐ๐˜ฏ ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜จ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ๐˜ฏ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด.

๐˜ž๐˜ฆ ๐˜ด๐˜ฆ๐˜ฆ ๐˜ง๐˜ช๐˜ข๐˜ต ๐˜ข๐˜ฏ๐˜ฅ ๐˜ค๐˜ณ๐˜บ๐˜ฑ๐˜ต๐˜ฐ๐˜ค๐˜ถ๐˜ณ๐˜ณ๐˜ฆ๐˜ฏ๐˜ค๐˜ช๐˜ฆ๐˜ด ๐˜ค๐˜ฐ๐˜ฆ๐˜น๐˜ช๐˜ด๐˜ต๐˜ช๐˜ฏ๐˜จ."

Another fascinating point that I interpreted from her comments is that some traditional financial institutions are waiting to enter the larger cryptomarket until there is 'deeper liquidity.'

Over the last two years, we've seen billions in daily volume worldwide flow through digital assets; if this is what the market looks like without many of these traditional players, then it portends significant future growth.

Question (Robert Patalano): "... ๐˜•๐˜ฐ๐˜ธ ๐˜ธ๐˜ฆ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ต๐˜ธ๐˜ฐ ๐˜ช๐˜ฏ๐˜ฏ๐˜ฐ๐˜ท๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜ด. ๐˜บ๐˜ฐ๐˜ถ'๐˜ณ๐˜ฆ ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ฆ๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ต๐˜ณ๐˜ข๐˜ฅ๐˜ช๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ญ ๐˜ฑ๐˜ญ๐˜ข๐˜บ๐˜ฆ๐˜ณ๐˜ด, ๐˜ช๐˜ฏ ๐˜ข ๐˜ด๐˜ฆ๐˜ฏ๐˜ด๐˜ฆ; ๐˜ฐ๐˜ณ ๐˜บ๐˜ฐ๐˜ถ'๐˜ณ๐˜ฆ ๐˜ต๐˜ณ๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ด๐˜ฉ๐˜ข๐˜ฌ๐˜ฆ ๐˜ถ๐˜ฑ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต ๐˜ข๐˜ด ๐˜บ๐˜ฐ๐˜ถ ๐˜จ๐˜ฐ ๐˜ต๐˜ฉ๐˜ณ๐˜ฐ๐˜ถ๐˜จ๐˜ฉ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฑ๐˜ณ๐˜ฐ๐˜ค๐˜ฆ๐˜ด๐˜ด .. ๐˜ต๐˜ฉ๐˜ข๐˜ต'๐˜ด ๐˜ฑ๐˜ข๐˜ณ๐˜ต ๐˜ฐ๐˜ง ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ฆ๐˜ต๐˜ช๐˜ฏ๐˜จ - ๐˜ต๐˜ข๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ณ๐˜ช๐˜ด๐˜ฌ๐˜ด.

๐˜ˆ๐˜ด ๐˜บ๐˜ฐ๐˜ถ'๐˜ณ๐˜ฆ ๐˜ต๐˜ข๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ ๐˜ณ๐˜ช๐˜ด๐˜ฌ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ข๐˜ด ๐˜บ๐˜ฐ๐˜ถ'๐˜ณ๐˜ฆ ๐˜ฃ๐˜ณ๐˜ช๐˜ฏ๐˜จ๐˜ช๐˜ฏ๐˜จ ๐˜ฏ๐˜ฆ๐˜ธ ๐˜ต๐˜ฆ๐˜ค๐˜ฉ๐˜ฏ๐˜ฐ๐˜ญ๐˜ฐ๐˜จ๐˜ช๐˜ฆ๐˜ด ๐˜ต๐˜ฐ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต, ๐˜ค๐˜ฐ๐˜ฎ๐˜ฎ๐˜ถ๐˜ฏ๐˜ช๐˜ค๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ข๐˜ต, ๐˜ฃ๐˜ถ๐˜ช๐˜ญ๐˜ฅ๐˜ช๐˜ฏ๐˜จ ๐˜ค๐˜ญ๐˜ช๐˜ฆ๐˜ฏ๐˜ต ๐˜ฃ๐˜ข๐˜ด๐˜ฆ, ๐˜ต๐˜ข๐˜ญ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ณ๐˜ฆ๐˜จ๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜ด; ๐˜ธ๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ฅ๐˜ฐ ๐˜บ๐˜ฐ๐˜ถ ๐˜ด๐˜ฆ๐˜ฆ ๐˜ช๐˜ต ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ? ๐˜ž๐˜ฉ๐˜ข๐˜ต ๐˜ค๐˜ฉ๐˜ข๐˜ญ๐˜ญ๐˜ฆ๐˜ฏ๐˜จ๐˜ฆ๐˜ด ๐˜ฅ๐˜ฐ ๐˜บ๐˜ฐ๐˜ถ ๐˜ง๐˜ข๐˜ค๐˜ฆ? ๐˜๐˜ฐ๐˜ธ ๐˜ข๐˜ณ๐˜ฆ ๐˜บ๐˜ฐ๐˜ถ ๐˜ข๐˜ฅ๐˜ฅ๐˜ณ๐˜ฆ๐˜ด๐˜ด๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ?"

Answer (Breanne Madigan): "๐˜–๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ณ๐˜ฆ๐˜จ๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜บ ๐˜ด๐˜ช๐˜ฅ๐˜ฆ, ๐˜ธ๐˜ฉ๐˜ช๐˜ค๐˜ฉ ๐˜ช๐˜ด ๐˜ข๐˜ฏ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ฃ๐˜ช๐˜จ ๐˜ฉ๐˜ถ๐˜ณ๐˜ฅ๐˜ญ๐˜ฆ, ๐˜ ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜ฌ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜ช๐˜ด ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ฆ๐˜ด๐˜ต๐˜ข๐˜ฃ๐˜ญ๐˜ช๐˜ด๐˜ฉ๐˜ช๐˜ฏ๐˜จ ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ค๐˜ญ๐˜ฆ๐˜ข๐˜ณ ๐˜ง๐˜ณ๐˜ข๐˜ฎ๐˜ฆ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ๐˜ด ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ข๐˜ณ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ช๐˜ฏ๐˜ค๐˜ช๐˜ฑ๐˜ญ๐˜ฆ๐˜ด-๐˜ฃ๐˜ข๐˜ด๐˜ฆ๐˜ฅ ๐˜ณ๐˜ข๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ต๐˜ฉ๐˜ข๐˜ฏ ๐˜ณ๐˜ถ๐˜ญ๐˜ฆ๐˜ด-๐˜ฃ๐˜ข๐˜ด๐˜ฆ๐˜ฅ. ๐˜‰๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ธ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ช๐˜ฏ ๐˜ด๐˜ถ๐˜ค๐˜ฉ ๐˜ข ๐˜ฏ๐˜ข๐˜ด๐˜ค๐˜ฆ๐˜ฏ๐˜ต ๐˜ด๐˜ต๐˜ข๐˜จ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ช๐˜ฏ๐˜ฅ๐˜ถ๐˜ด๐˜ต๐˜ณ๐˜บ'๐˜ด ๐˜ฅ๐˜ฆ๐˜ท๐˜ฆ๐˜ญ๐˜ฐ๐˜ฑ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต, ๐˜ธ๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ข๐˜ญ๐˜ญ๐˜ฐ๐˜ธ ๐˜ง๐˜ฐ๐˜ณ ๐˜ง๐˜ญ๐˜ฆ๐˜น๐˜ช๐˜ฃ๐˜ช๐˜ญ๐˜ช๐˜ต๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ข๐˜ญ๐˜ญ๐˜ฐ๐˜ธ ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ข๐˜ฏ๐˜ช๐˜ฆ๐˜ด ๐˜ต๐˜ฐ ๐˜ฃ๐˜ฆ ๐˜ฏ๐˜ช๐˜ฎ๐˜ฃ๐˜ญ๐˜ฆ; ๐˜ฃ๐˜ถ๐˜ต ๐˜ด๐˜ต๐˜ช๐˜ญ๐˜ญ ๐˜ข๐˜ฅ๐˜ฉ๐˜ฆ๐˜ณ๐˜ช๐˜ฏ๐˜จ (๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ณ๐˜ฆ๐˜จ๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด); ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜œ.๐˜š., ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ด๐˜ฐ๐˜ฎ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฑ๐˜ฑ๐˜ณ๐˜ฐ๐˜ข๐˜ค๐˜ฉ๐˜ฆ๐˜ด ๐˜ต๐˜ฐ ๐˜ฅ๐˜ข๐˜ต๐˜ฆ, ๐˜ธ๐˜ฆ'๐˜ณ๐˜ฆ ๐˜ด๐˜ฐ๐˜ณ๐˜ต ๐˜ฐ๐˜ง ๐˜ฎ๐˜ช๐˜ด๐˜ด๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ถ๐˜ต.

๐˜›๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ'๐˜ด ๐˜ฃ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ซ๐˜ถ๐˜ณ๐˜ช๐˜ด๐˜ฅ๐˜ช๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด - ๐˜š๐˜ธ๐˜ช๐˜ต๐˜ป๐˜ฆ๐˜ณ๐˜ญ๐˜ข๐˜ฏ๐˜ฅ, ๐˜š๐˜ช๐˜ฏ๐˜จ๐˜ข๐˜ฑ๐˜ฐ๐˜ณ๐˜ฆ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ด - ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ฆ๐˜ด๐˜ต๐˜ข๐˜ฃ๐˜ญ๐˜ช๐˜ด๐˜ฉ๐˜ฆ๐˜ฅ ๐˜ฎ๐˜ฐ๐˜ณ๐˜ฆ ๐˜ค๐˜ญ๐˜ฆ๐˜ข๐˜ณ ๐˜ง๐˜ณ๐˜ข๐˜ฎ๐˜ฆ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ธ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ข๐˜ต ๐˜ณ๐˜ช๐˜ด๐˜ฌ ๐˜ช๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜œ.๐˜š., ๐˜ธ๐˜ฉ๐˜ช๐˜ค๐˜ฉ ๐˜ช๐˜ด ๐˜ธ๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ฐ๐˜ถ๐˜ณ ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ข๐˜ฏ๐˜บ ๐˜ช๐˜ด ๐˜ฉ๐˜ฆ๐˜ข๐˜ฅ๐˜ฒ๐˜ถ๐˜ข๐˜ณ๐˜ต๐˜ฆ๐˜ณ๐˜ฆ๐˜ฅ, ๐˜ฐ๐˜ง ๐˜ง๐˜ญ๐˜ช๐˜จ๐˜ฉ๐˜ต ๐˜ฐ๐˜ง ๐˜ต๐˜ข๐˜ญ๐˜ฆ๐˜ฏ๐˜ต ..."

In addition to commenting on regulatory compliance, she also discussed the challenges of opening up a new xRapid corridor in regards to liquidity, and how the process has eased with additional, opportunistic market makers in some of the partner exchanges.

It was a high-level panel discussion, and her informed description of xRapid addressed the topic title for the session.

Session: 'Digital Financial Marketplaces: New developments and regulatory responses in primary and secondary markets'

The session 'Digital Financial Marketplaces: New developments and regulatory responses in primary and secondary markets' was facilitated by Paul Horrocks, the Head of the Unit for Private Finance for Sustainable Development, and the Development Cooperation Directorate for the OECD:

Paul Horrocks provided an introduction where he emphasized the high costs of remittances, setting the stage for the panel topic. Marjan Delatinne covered quite a bit of material as part of her comprehensive introduction:

(Marjan Delatinne): "๐˜ž๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฃ๐˜ถ๐˜ช๐˜ญ๐˜ฅ๐˜ช๐˜ฏ๐˜จ ๐˜ข ๐˜ฅ๐˜ฆ๐˜ค๐˜ฆ๐˜ฏ๐˜ต๐˜ณ๐˜ข๐˜ญ๐˜ช๐˜ป๐˜ฆ๐˜ฅ ๐˜จ๐˜ญ๐˜ฐ๐˜ฃ๐˜ข๐˜ญ ๐˜ฏ๐˜ฆ๐˜ต๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ ๐˜ฐ๐˜ง ๐˜ท๐˜ข๐˜ญ๐˜ถ๐˜ฆ ...

... ๐˜Š๐˜ฐ๐˜ฎ๐˜ช๐˜ฏ๐˜จ ๐˜ฃ๐˜ข๐˜ค๐˜ฌ ๐˜ต๐˜ฐ ๐˜จ๐˜ญ๐˜ฐ๐˜ฃ๐˜ข๐˜ญ ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด ๐˜ต๐˜ฐ๐˜ฅ๐˜ข๐˜บ; ๐˜ธ๐˜ฆ ๐˜ธ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ช๐˜ฏ ๐˜ข ๐˜ฑ๐˜ณ๐˜ฆ๐˜ท๐˜ช๐˜ฐ๐˜ถ๐˜ด ๐˜ด๐˜ฆ๐˜ด๐˜ด๐˜ช๐˜ฐ๐˜ฏ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ธ๐˜ฆ ๐˜ธ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ต๐˜ข๐˜ญ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ข๐˜ฃ๐˜ฐ๐˜ถ๐˜ต ๐˜ค๐˜ฐ๐˜ด๐˜ต๐˜ด. ๐˜Š๐˜ฐ๐˜ด๐˜ต ๐˜ข๐˜ณ๐˜ฆ ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ต. ๐˜ฃ๐˜ถ๐˜ต ๐˜ฃ๐˜ฆ๐˜ฉ๐˜ช๐˜ฏ๐˜ฅ ... ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜จ๐˜ญ๐˜ฐ๐˜ฃ๐˜ข๐˜ญ ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด ๐˜ต๐˜ฐ๐˜ฅ๐˜ข๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ช๐˜ด ๐˜ข๐˜ฏ ๐˜ฆ๐˜น๐˜ช๐˜ด๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ค๐˜ฆ๐˜ด๐˜ด ๐˜ธ๐˜ฉ๐˜ช๐˜ค๐˜ฉ ๐˜ฃ๐˜ฆ๐˜ญ๐˜ฐ๐˜ฏ๐˜จ๐˜ด ๐˜ต๐˜ฐ (๐˜ฉ๐˜ช๐˜ด๐˜ต๐˜ฐ๐˜ณ๐˜บ). ๐˜š๐˜ช๐˜ฏ๐˜ค๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ฏ, ๐˜ฉ๐˜ฐ๐˜ฏ๐˜ฆ๐˜ด๐˜ต๐˜ญ๐˜บ, ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฑ๐˜ณ๐˜ฐ๐˜ค๐˜ฆ๐˜ด๐˜ด ๐˜ฉ๐˜ข๐˜ด ๐˜ฏ๐˜ฐ๐˜ต ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ค๐˜ฉ๐˜ข๐˜ฏ๐˜จ๐˜ฆ๐˜ฅ.

๐˜๐˜ต'๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ฆ๐˜ฒ๐˜ถ๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ ๐˜ฐ๐˜ง ๐˜ญ๐˜ช๐˜ข๐˜ฃ๐˜ช๐˜ญ๐˜ช๐˜ต๐˜บ ๐˜ฃ๐˜ฆ๐˜ต๐˜ธ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฎ๐˜ถ๐˜ญ๐˜ต๐˜ช๐˜ฑ๐˜ญ๐˜ฆ ๐˜ฐ๐˜ณ๐˜จ๐˜ข๐˜ฏ๐˜ช๐˜ป๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ฎ๐˜ฆ๐˜ฅ๐˜ช๐˜ข๐˜ณ๐˜ช๐˜ฆ๐˜ด, ๐˜ต๐˜ฐ ๐˜ฆ๐˜ฏ๐˜ด๐˜ถ๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ ๐˜ช๐˜ด ๐˜ฎ๐˜ฐ๐˜ท๐˜ฆ๐˜ฅ ๐˜ง๐˜ณ๐˜ฐ๐˜ฎ ๐˜ฐ๐˜ฏ๐˜ฆ ๐˜ฑ๐˜ญ๐˜ข๐˜ค๐˜ฆ ๐˜ต๐˜ฐ ๐˜ข๐˜ฏ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ.

slide from OECD Session

๐˜–๐˜ง ๐˜ค๐˜ฐ๐˜ถ๐˜ณ๐˜ด๐˜ฆ, ๐˜ช๐˜ต'๐˜ด ๐˜ข ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ญ๐˜ถ๐˜ค๐˜ณ๐˜ข๐˜ต๐˜ช๐˜ท๐˜ฆ ๐˜ฃ๐˜ถ๐˜ด๐˜ช๐˜ฏ๐˜ฆ๐˜ด๐˜ด. ๐˜›๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ช๐˜ด ๐˜ญ๐˜ฐ๐˜ต๐˜ด ๐˜ฐ๐˜ง ๐˜ฎ๐˜ข๐˜ณ๐˜จ๐˜ช๐˜ฏ, ๐˜ฆ๐˜ด๐˜ฑ๐˜ฆ๐˜ค๐˜ช๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ธ๐˜ฉ๐˜ฆ๐˜ฏ ๐˜ธ๐˜ฆ ๐˜จ๐˜ฆ๐˜ต ๐˜ต๐˜ฐ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ค๐˜ฐ๐˜ณ๐˜ฑ๐˜ฐ๐˜ณ๐˜ข๐˜ต๐˜ฆ-๐˜ต๐˜ฐ-๐˜ค๐˜ฐ๐˜ณ๐˜ฑ๐˜ฐ๐˜ณ๐˜ข๐˜ต๐˜ฆ (๐˜Š2๐˜Š); ๐˜ข๐˜ฏ๐˜ฅ, ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฃ๐˜ข๐˜ฃ๐˜ญ๐˜บ, ๐˜ต๐˜ฉ๐˜ฆ ๐˜ณ๐˜ฆ๐˜ฎ๐˜ช๐˜ต๐˜ต๐˜ข๐˜ฏ๐˜ค๐˜ฆ (๐˜ฑ๐˜ณ๐˜ฐ๐˜ค๐˜ฆ๐˜ด๐˜ด๐˜ฐ๐˜ณ๐˜ด) ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ-๐˜ด๐˜ฆ๐˜ณ๐˜ท๐˜ฆ๐˜ฅ ๐˜ฃ๐˜ข๐˜ฏ๐˜ฌ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฐ๐˜ด๐˜ฆ ๐˜ธ๐˜ฉ๐˜ฐ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฑ๐˜ข๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ฐ๐˜ถ๐˜ต ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ช๐˜ฏ๐˜ง๐˜ณ๐˜ข๐˜ด๐˜ต๐˜ณ๐˜ถ๐˜ค๐˜ต๐˜ถ๐˜ณ๐˜ฆ.

๐˜Š๐˜ถ๐˜ณ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต๐˜ญ๐˜บ, ๐˜ข ๐˜ค๐˜ณ๐˜ฐ๐˜ด๐˜ด-๐˜ฃ๐˜ฐ๐˜ณ๐˜ฅ๐˜ฆ๐˜ณ ๐˜ฑ๐˜ข๐˜บ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต ๐˜ช๐˜ฏ ๐˜ข ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ญ๐˜ช๐˜ฒ๐˜ถ๐˜ช๐˜ฅ ๐˜ค๐˜ถ๐˜ณ๐˜ณ๐˜ฆ๐˜ฏ๐˜ค๐˜บ ๐˜ต๐˜ข๐˜ฌ๐˜ฆ๐˜ด ๐˜ต๐˜ฉ๐˜ณ๐˜ฆ๐˜ฆ-๐˜ต๐˜ฐ-๐˜ง๐˜ช๐˜ท๐˜ฆ ๐˜ฅ๐˜ข๐˜บ๐˜ด."

In regards to Facebook's Libra whitepaper, she provided this comment:

"๐˜ž๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ๐˜ด๐˜ต๐˜ข๐˜ฏ๐˜ฅ ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ฌ๐˜ช๐˜ฏ๐˜ฅ ๐˜ฐ๐˜ง ๐˜ด๐˜บ๐˜ด๐˜ต๐˜ฆ๐˜ฎ๐˜ช๐˜ค ๐˜ณ๐˜ช๐˜ด๐˜ฌ ๐˜ข๐˜ฏ ๐˜ฐ๐˜ณ๐˜จ๐˜ข๐˜ฏ๐˜ช๐˜ป๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ญ๐˜ช๐˜ฌ๐˜ฆ ๐˜๐˜ข๐˜ค๐˜ฆ๐˜ฃ๐˜ฐ๐˜ฐ๐˜ฌ ๐˜ค๐˜ข๐˜ฏ ๐˜ณ๐˜ฆ๐˜ฑ๐˜ณ๐˜ฆ๐˜ด๐˜ฆ๐˜ฏ๐˜ต ... ๐˜ ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜ฌ ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ด ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ต - ๐˜ข ๐˜ณ๐˜ฆ๐˜จ๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜บ ๐˜ง๐˜ณ๐˜ข๐˜ฎ๐˜ฆ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ ๐˜ช๐˜ด ๐˜ฐ๐˜ฏ๐˜ฆ ๐˜ฑ๐˜ข๐˜ณ๐˜ต ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ข๐˜ต, ๐˜ธ๐˜ฉ๐˜ช๐˜ค๐˜ฉ ๐˜ช๐˜ด ๐˜ฅ๐˜ฆ๐˜ง๐˜ช๐˜ฏ๐˜ช๐˜ต๐˜ฆ๐˜ญ๐˜บ ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ต; ๐˜ฉ๐˜ข๐˜ท๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ค๐˜ญ๐˜ข๐˜ณ๐˜ช๐˜ต๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ค๐˜ฐ๐˜ฏ๐˜ต๐˜ช๐˜ฏ๐˜ถ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ช๐˜ฏ๐˜ฏ๐˜ฐ๐˜ท๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ; ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ด ๐˜ฎ๐˜ช๐˜ด๐˜ด๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ๐˜ฅ๐˜ข๐˜บ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ด ๐˜ฑ๐˜ณ๐˜ฆ๐˜ท๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ข๐˜ด๐˜ด ๐˜ข๐˜ฅ๐˜ฐ๐˜ฑ๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ฐ๐˜ง ๐˜ฃ๐˜ญ๐˜ฐ๐˜ค๐˜ฌ๐˜ค๐˜ฉ๐˜ข๐˜ช๐˜ฏ, ๐˜ช๐˜ด ๐˜ข ๐˜ถ๐˜ด๐˜ฆ๐˜ณ ๐˜ฆ๐˜น๐˜ฑ๐˜ฆ๐˜ณ๐˜ช๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ ...

... ๐˜ž๐˜ฉ๐˜บ (๐˜ค๐˜ข๐˜ฏ'๐˜ต) ๐˜ข ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ถ๐˜ฎ๐˜ฆ๐˜ณ ๐˜ฃ๐˜ถ๐˜บ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ค๐˜ฐ๐˜ง๐˜ง๐˜ฆ๐˜ฆ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ?

๐˜ž๐˜ฉ๐˜ข๐˜ต? ๐˜‰๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ช๐˜ต'๐˜ด ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ด๐˜ด๐˜ช๐˜ฃ๐˜ญ๐˜ฆ. ๐˜‰๐˜ฆ๐˜ง๐˜ฐ๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ต๐˜ช๐˜ฎ๐˜ฆ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜บ๐˜ฐ๐˜ถ ๐˜จ๐˜ฆ๐˜ต ๐˜ช๐˜ต (๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ), ๐˜ช๐˜ต'๐˜ด ๐˜ค๐˜ฐ๐˜ญ๐˜ฅ! ๐˜‰๐˜ฆ๐˜ง๐˜ฐ๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ต๐˜ณ๐˜ข๐˜ฏ๐˜ด๐˜ข๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ช๐˜ด ๐˜ด๐˜ฆ๐˜ต๐˜ต๐˜ญ๐˜ฆ๐˜ฅ, ๐˜ต๐˜ฉ๐˜ฆ ๐˜ค๐˜ฐ๐˜ง๐˜ง๐˜ฆ๐˜ฆ ๐˜ช๐˜ด ๐˜ค๐˜ฐ๐˜ญ๐˜ฅ!

... ๐˜ช๐˜ต ๐˜ช๐˜ด ๐˜ฃ๐˜ฐ๐˜ต๐˜ฉ. ๐˜๐˜ต'๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ณ๐˜ฆ๐˜จ๐˜ถ๐˜ญ๐˜ข๐˜ต๐˜ฐ๐˜ณ๐˜บ ๐˜ง๐˜ณ๐˜ข๐˜ฎ๐˜ฆ๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ, ๐˜ฃ๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ๐˜ฏ ๐˜ถ๐˜ด๐˜ฆ๐˜ณ ๐˜ฆ๐˜น๐˜ฑ๐˜ฆ๐˜ณ๐˜ช๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ ๐˜ช๐˜ด ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ช๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ข๐˜ฏ๐˜ต."

I really enjoyed her descriptions of correspondence banking as a 'sequence of liability' between the banks involved; it was an relate-able way to describe what happens on the ledger of each organization.

One thing I noticed: Like Breanne Madigan, Marjan Delatinne also emphasized the dual challenges of both liquidity and regulation. It sounds like Ripple is now focused organization-wide on the remaining obstructions for the Internet of Value.

Session: 'Tax and Blockchain: From tax administration to transparency and the tax treatment of digital financial assets'

The session 'Tax and Blockchain: From tax administration to transparency and the tax treatment of digital financial assets' was facilitated by Grace Perez-Navarro, the Deputy Director for the Center for Tax Policy and Administration at the OECD:

In this panel discussion, Liz Chien was the first member to provide an introduction, and later, Grace Perez-Navarro asked her:

Question (Grace Perez-Navarro): "๐˜'๐˜ฎ ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ต๐˜ถ๐˜ณ๐˜ฏ ๐˜ช๐˜ต ๐˜ฃ๐˜ข๐˜ค๐˜ฌ ๐˜ต๐˜ฐ ๐˜“๐˜ช๐˜ป ๐˜ง๐˜ฐ๐˜ณ ๐˜ข ๐˜ง๐˜ฆ๐˜ธ ๐˜ฎ๐˜ช๐˜ฏ๐˜ถ๐˜ต๐˜ฆ๐˜ด ๐˜ต๐˜ฐ ๐˜ต๐˜ข๐˜ญ๐˜ฌ ๐˜ข๐˜ฃ๐˜ฐ๐˜ถ๐˜ต ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ฆ๐˜ด๐˜ฆ ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด ๐˜ข๐˜ณ๐˜ฆ, ๐˜ข๐˜ฏ๐˜ฅ ๐˜ธ๐˜ฉ๐˜บ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฎ๐˜ช๐˜จ๐˜ฉ๐˜ต ๐˜ต๐˜ณ๐˜ช๐˜จ๐˜จ๐˜ฆ๐˜ณ ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ต๐˜ข๐˜น ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ฆ๐˜ฒ๐˜ถ๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ๐˜ด."

Answer (Liz Chien): "๐˜ˆ๐˜ด ๐˜ข ๐˜ง๐˜ฐ๐˜ถ๐˜ฏ๐˜ฅ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ, ๐˜ช๐˜ต'๐˜ด ๐˜ฉ๐˜ข๐˜ณ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ต๐˜ข๐˜น ๐˜ด๐˜ฐ๐˜ฎ๐˜ฆ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜จ ๐˜ธ๐˜ฉ๐˜ฆ๐˜ฏ ๐˜บ๐˜ฐ๐˜ถ ๐˜ฅ๐˜ฐ๐˜ฏ'๐˜ต ๐˜ฒ๐˜ถ๐˜ช๐˜ต๐˜ฆ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ฆ๐˜ฏ๐˜ด๐˜ถ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ข ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ช๐˜ด๐˜ต๐˜ฆ๐˜ฏ๐˜ต ๐˜ฅ๐˜ฆ๐˜ง๐˜ช๐˜ฏ๐˜ช๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ข๐˜ด ๐˜ต๐˜ฐ ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ต ๐˜ช๐˜ด. ๐˜ ๐˜ต๐˜ฉ๐˜ฐ๐˜ถ๐˜จ๐˜ฉ๐˜ต ๐˜‹๐˜ช๐˜ฐ๐˜ฏ'๐˜ด ๐˜ช๐˜ฏ๐˜ต๐˜ณ๐˜ฐ๐˜ฅ๐˜ถ๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ข๐˜ญ๐˜ญ๐˜ถ๐˜ฅ๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ท๐˜ฆ๐˜ณ๐˜บ ๐˜ฏ๐˜ช๐˜ค๐˜ฆ๐˜ญ๐˜บ ...

... ๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต๐˜ณ๐˜ช๐˜ฆ๐˜ด ๐˜ฏ๐˜ฐ๐˜ธ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ข ๐˜ณ๐˜ข๐˜ฏ๐˜จ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ข๐˜ฑ๐˜ฑ๐˜ณ๐˜ฐ๐˜ข๐˜ค๐˜ฉ๐˜ฆ๐˜ด ๐˜ฐ๐˜ฏ ๐˜ฉ๐˜ฐ๐˜ธ ๐˜ต๐˜ฐ ๐˜ณ๐˜ฆ๐˜ท๐˜ช๐˜ฆ๐˜ธ ๐˜ต๐˜ฉ๐˜ฆ๐˜ด๐˜ฆ ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜จ๐˜ด. ๐˜‰๐˜ถ๐˜ต ๐˜ช๐˜ต ๐˜ฅ๐˜ฐ๐˜ฆ๐˜ด ๐˜ด๐˜ฆ๐˜ฆ๐˜ฎ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต๐˜ณ๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ด๐˜ฆ๐˜ต๐˜ต๐˜ญ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ฏ ๐˜ต๐˜ณ๐˜ฆ๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ค๐˜ณ๐˜บ๐˜ฑ๐˜ต๐˜ฐ-๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ต๐˜ข๐˜น ๐˜ฑ๐˜ถ๐˜ณ๐˜ฑ๐˜ฐ๐˜ด๐˜ฆ๐˜ด ๐˜ข๐˜ด ๐˜ด๐˜ฐ๐˜ฎ๐˜ฆ ๐˜ต๐˜บ๐˜ฑ๐˜ฆ ๐˜ฐ๐˜ง ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต.

๐˜›๐˜ฉ๐˜ข๐˜ต'๐˜ด ๐˜ซ๐˜ถ๐˜ด๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ต๐˜ข๐˜ณ๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ฑ๐˜ฐ๐˜ช๐˜ฏ๐˜ต.

๐˜›๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ'๐˜ด ๐˜ข ๐˜ธ๐˜ฉ๐˜ฐ๐˜ญ๐˜ฆ ๐˜ฉ๐˜ฐ๐˜ด๐˜ต ๐˜ฐ๐˜ง ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ค๐˜ญ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ด ๐˜ฐ๐˜ง ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด, ๐˜ข๐˜ญ๐˜ญ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ฅ๐˜ช๐˜ง๐˜ง๐˜ฆ๐˜ณ๐˜ฆ๐˜ฏ๐˜ต ๐˜ต๐˜บ๐˜ฑ๐˜ฆ๐˜ด ๐˜ฐ๐˜ง ๐˜ต๐˜ข๐˜น ๐˜ต๐˜ณ๐˜ฆ๐˜ข๐˜ต๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต๐˜ด...

๐˜๐˜ณ๐˜ฐ๐˜ฎ ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ, ๐˜บ๐˜ฐ๐˜ถ ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ต๐˜ฐ ๐˜ญ๐˜ฐ๐˜ฐ๐˜ฌ ๐˜ข๐˜ต ๐˜ช๐˜ต๐˜ด ๐˜ถ๐˜ด๐˜ฆ...

๐˜๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฃ๐˜ด๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ ๐˜ฐ๐˜ง ๐˜ข๐˜ฏ๐˜บ ๐˜ต๐˜ข๐˜น ๐˜ข๐˜ถ๐˜ต๐˜ฉ๐˜ฐ๐˜ณ๐˜ช๐˜ต๐˜บ ๐˜ค๐˜ฐ๐˜ฎ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ถ๐˜ต ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฆ๐˜น๐˜ฑ๐˜ญ๐˜ช๐˜ค๐˜ช๐˜ต๐˜ญ๐˜บ ๐˜ด๐˜ข๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ฏ ๐˜จ๐˜ถ๐˜ช๐˜ฅ๐˜ข๐˜ฏ๐˜ค๐˜ฆ, ๐˜ช๐˜ฏ ๐˜ฑ๐˜ณ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ค๐˜ฆ, ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ช๐˜ด ๐˜ธ๐˜ฉ๐˜ข๐˜ต ๐˜ธ๐˜ฆ'๐˜ท๐˜ฆ ๐˜ต๐˜ณ๐˜ช๐˜ฆ๐˜ฅ ๐˜ต๐˜ฐ ๐˜ฅ๐˜ฐ. ๐˜ž๐˜ฉ๐˜ช๐˜ค๐˜ฉ ๐˜ช๐˜ด ๐˜ต๐˜ฐ ๐˜ด๐˜ข๐˜บ, '๐˜ธ๐˜ฆ๐˜ญ๐˜ญ, ๐˜ข๐˜ด ๐˜ข ๐˜ด๐˜ต๐˜ข๐˜ณ๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ฑ๐˜ฐ๐˜ช๐˜ฏ๐˜ต, ๐˜ธ๐˜ฆ'๐˜ญ๐˜ญ ๐˜ต๐˜ณ๐˜ฆ๐˜ข๐˜ต ๐˜ค๐˜ณ๐˜บ๐˜ฑ๐˜ต๐˜ฐ-๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด ๐˜ข๐˜ด ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ๐˜ฏ ๐˜ฃ๐˜ข๐˜ด๐˜ฆ๐˜ฅ ๐˜ฐ๐˜ฏ ๐˜ฉ๐˜ฐ๐˜ธ ๐˜ต๐˜ฉ๐˜ฆ๐˜ด๐˜ฆ ๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ช๐˜ฏ๐˜จ ๐˜ถ๐˜ด๐˜ฆ๐˜ฅ, ๐˜ธ๐˜ฆ ๐˜ธ๐˜ช๐˜ญ๐˜ญ ... (๐˜ช๐˜ฅ๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ง๐˜บ) ๐˜ต๐˜ฉ๐˜ฆ ๐˜ค๐˜ญ๐˜ฐ๐˜ด๐˜ฆ๐˜ด๐˜ต ๐˜ข๐˜ฏ๐˜ข๐˜ญ๐˜ฐ๐˜จ๐˜ถ๐˜ฆ ๐˜ง๐˜ฐ๐˜ณ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฑ๐˜ข๐˜ณ๐˜ต๐˜ช๐˜ค๐˜ถ๐˜ญ๐˜ข๐˜ณ ๐˜ต๐˜ณ๐˜ข๐˜ฏ๐˜ด๐˜ข๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ค๐˜ณ๐˜บ๐˜ฑ๐˜ต๐˜ฐ-๐˜ข๐˜ด๐˜ด๐˜ฆ๐˜ต ๐˜ช๐˜ด ๐˜ฃ๐˜ฆ๐˜ช๐˜ฏ๐˜จ ๐˜ถ๐˜ด๐˜ฆ๐˜ฅ ๐˜ช๐˜ฏ; ๐˜ธ๐˜ฆ ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜ฌ ๐˜ช๐˜ต'๐˜ด ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ข๐˜ฌ๐˜ช๐˜ฏ ๐˜ต๐˜ฐ ๐˜ข ๐˜ค๐˜ฐ๐˜ฎ๐˜ฎ๐˜ฐ๐˜ฅ๐˜ช๐˜ต๐˜บ ๐˜ช๐˜ฏ ๐˜ฅ๐˜ช๐˜จ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜ง๐˜ฐ๐˜ณ๐˜ฎ."

The panel also collectively noted that the public may be confused, because ironically, the only asset class that crypto cannot be based on, is a currency.

The irony increases based on the fact that many people have used them for small, immaterial purchases, not knowing that they are, essentially, disposing of a portion of their investment, and hence, required to report it at the end of the year.

Liz Chien's perspective probably has more to do with banks and remittance processors using digital assets, not individual retail shoppers.

The panel discussion was international in flavor due to the nature of the OECD and its focus, and the comments from each panelist may be a barometer of international direction for the tax regulation of digital assets. It was interesting that, when the facilitator asked all the panelists to indicate if 'one rule' or taxonomy should be used for tax treatment worldwide, the majority of the panelists raised their hand in agreement.

I honestly don't know what to think on that topic (international standardization of tax treatment of crypto), other than to say that standardization usually makes development more straightforward when it comes to software; this is why we have organizations like the IEEE and the W3C for technical topics.

If you're wondering whether or not to watch the three videos, I'd recommend that you set some time aside; even if there were no 'shocking points' revealed, the meeting is a guide for the direction that the OECD's member countries are heading.

Thanks to Janna One Trick (YouTube avatar) for the information about the OECD videos.

Coil

The biggest news story in crypto - and probably in fintech - of the last week, was the announcement of the $100 million dollar grant that was established to help fund content creators who are participating in the new 'web monetization' of the Internet.

It's a dramatic shift from some of the earlier announcements of investments by Ripple, Xpring, and Coil; it focuses on the individuals who are creating content from scratch, who are also wishing to fund their efforts through the new tools available as part of web monetization.

While Coil is not the only company, it is perhaps the most famous, and largest of the companies currently advocating for new web standards that will support dynamic browser-and-payment integration.

In total, three separate organizations are participating in this latest effort; Coil, the Mozilla Foundation, and Creative Commons are all set to provide their assistance with administering the grant.

The participants in this grant, more than almost anything else, reveal the perspective and vision of the founder of Coil, Stefan Thomas. At each significant turn, it seems like his innovations and creations seem to embody the 'spirit' of the Internet and the promise of technology to enable individuals and progressive causes. This idealism is reflected in the organizations that are party to this new fund.

Coil: You are probably already familiar with Coil if you are reading this; Coil is the business founded by Stefan Thomas and others, and its goal is to enable the monetization of the Internet using open-source, standards-based technology, paired with a new technology - Interledger - that supports interoperability between financial ledgers.

Mozilla: The organization that has evolved from its pre-year-2000 roots, when Netscape open-sourced its browser code. Since then, its flagship software product - the Firefox browser - has established itself as one of a handful of major browsers that actively compete for customers.

The inclusion of Mozilla didn't surprise me; that organization has been a part of the history of the web, and its evolution happened throughout the pioneering early days of open-source development. In addition to its famous Firefox browser, the Mozilla Foundation also has a variety of other products, including an email user interface.

My guess is that Coil is planning on working with a number of browsers, and that it chose Mozilla to work with on this grant because of the weight that the organization has when it comes to championing - and proving out - the open source development model, and the importance of open standards such as the ones promoted by the World Wide Web Consortium. Basically, I'm saying that Coil chose Mozilla because of its industry influence, not because they specifically like the browser; Coil wants to work with all browsers where possible.

Creative Commons: Founded in 2001, this is a nonprofit organization whose original goal was to promote a new kind of creative license that would enable sharing of ideas and content throughout the web.

Creative Commons was an interesting choice, and it's also a practical one. Coil's business model includes the goal of enabling monetization of content created by individuals. When it comes to matters of copyright, fair use, and open-source licenses, content platforms must be cognizant of the legal implications of their application or website.

Coil refers to Creative Commons in its terms of service, so it's not a surprise that it also chose to involve this organization in its ongoing effort to champion web monetization. User licenses are going to be an important factor in Coil's speed of adoption.

Summary Facts:
Name of Deal: Grant for the Web
Amount of Grant: $100 millions
Recipients: Content Creators
Participating Organizations: Coil, Mozilla, Creative Commons
Official Announcement Blog: Why We Are Giving Away $100m to Creators with Mozilla and Creative Commons

My Take

This is a phenomenal development in nearly every sense.

So often, I hear from those in the XRP Community about the amount of effort that goes into the creation of websites, videos, blogs, papers, graphics, and applications; but when it comes to community-sourced development and creations, there's no easy way to reward those involved. Granted, some applications may be used enough to result in a monetary reward for the developers, but that is the exception to the rule.

If this grant ends up supercharging the adoption of web monetization and helps to augment what has already become a trend, then it's good news for those of us that are early adopters.

There is a certain electricity to this latest deal.

It's all about creativity, and the channeling of the enormous energy already inherent in the XRP Community. The community is composed of individuals, remember, that tend to be 'out-of-the-box' creative thinkers that were astute enough to identify a possible investment opportunity when most of the world was still being educated on the very definition of a cryptocurrency.

We - the collective 'we' of the entire XRP Community - are composed of what seems to be to be relatively stubborn, determined, and analytical individuals, sprinkled with some people that are truly gifted at creating compelling content for others.

And this 'Grant for the Web' has the potential of tapping into that determination and creativity to plant our flag in the uncharted territory of web monetization.

Wild Guess

While I plan to do a deep dive on Coil's Grant for the Web soon in an individual topic-oriented post on their platform, I quickly arrived at the following conclusion:

Coil planned this 'Grant for the Web' either before or directly after the massive capital investment by Ripple of one billion XRP on August 15แต—สฐ.

This is evidenced by the fact that the Grant for the Web's official Twitter account was created in August, not in September, and by the fact that its official web site was fully built out - complete with a user forum - on the date of the official announcement.

While some of these announcements may look extemporaneous to people, it's obvious to me that Coil is following a sequence of steps that have been planned to emulate a tried-and-true adoption strategy.

Don't Underestimate This Announcement

One side effect of the 2018 bear market has been a proliferation of a certain type of 'learned helplessness' among some people who previously exhibited a high level of excitement for the Internet of Value and XRP. It can be frustrating when the larger market acts irrationally, but we must remind each other to remain steadfast, and to keep working diligently to support worldwide XRP adoption.

The 'Grant for the Web' announcement was a very loud proclamation by Coil for creators to 'jump aboard' the monetization train.

And believe me, this train is about to leave the station for a new destination; a metropolis far in the distance; a place where individuals are rewarded for their own creativity and where people don't have to trade their personal information for free services. It's where, for just a little bit of change in our pocket, we can have all the information and applications we want.

It's nothing less than the Internet itself, the way that it was first envisioned.

Congratulations to Coil, Mozilla, and Creative Commons on the 'Grant for the Web,' but even more so, congratulations to XRP fans, as this is a win that will directly - and immediately - benefit our community.

My Coil Recommendations

This week was overshadowed by the importance of the larger joint announcement about the 'Grant for the Web.' However, I've surveyed a few new titles at Coil, and have presented my latest recommendations as follows:

Author: [email protected]
Article: The 5 Best Tips For Beginners On Guitar!
Topic: music

Author: [email protected]
Article: All Web Monetized entries from js13kGames 2019!
Topic: monetization, gaming

Author: David [email protected]
Article: How to Not Minify Source with Webpack
Topic: programming

Author: Urban [email protected]
Article: Perfect Parenting
Topic: Inspirational

XRP News

Xumm is the name of the signing platform that XRPL Labs is building.

It's different than a wallet, although it possesses the classical functions of one; it's far more than that, as it also provides an interface for other developers and applications to interact with the user.

Essentially, it will operate as one central account where end-users can manage their XRP, and also decide if they'd like to approve requests for payment from external applications. In other words, it's a 'signing platform,' exactly as Wietse Wind describes it.

The team behind XRPL Labs first demo'd the application as part of the Dutch meetup earlier this year. And now, on September 17แต—สฐ, Wietse Wind sent out this communication that describes some of the recent development:

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Each stage of development takes time, when it comes to creating a robust and effective application. With each passing day, we're edging closer to the 'delivery point' for a wide variety of Xpring projects like Xumm!

Account Splitter - Part Two

The idea of a Twitter-based account splitter is something that has energized the fund-raising for the Good Souls Group (GSG), the group of individuals in the XRP Community that raise funds for various charitable causes.

What's an account splitter?

The account splitter Twitter account for the GSG is this one: [email protected]

Currently, I've configured my own XRP Tip Bot account to send six XRP to the 'splitter' account each day. The 'splitter' account ([email protected]) will then take these six XRP and distribute them equally among the various charities. Here's what that looks like:

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In this case, the splitter account has successfully distributed the XRP among each of the accounts.

It's a convenient way to give to 'all of the charities' all at once, without having to spell it out in a tweet.

Great Idea For XRP Community Sites

Some XRP Community fan sites draw in substantial numbers of fans.

Think about Wietse Wind's XRP Ledger Exposed. Or the XRP Toolkit. Or xrp.co. Or Wipple. Or any number of additional sites that have sprung up over the years to support XRP fans and fellow developers.

These sites have benefited from a substantial investment of time and energy by community members, and further, these sites require their owners to shell out money - normally once per month - to keep the sites going. These costs can be related to hosting services, licenses, or certificates.

To help defray these costs, a new account splitter will help.

As an example, if there was an easy way to donate one of your XRP to be divided among each of the community sites that need it, would you send them one? Most of us would send one XRP to this account, especially if we knew that it would be successfully split up and shared among all of the community website operators.

If you agree with this idea and would like to donate to the new splitter Twitter account, stay tuned!

@nixerFFM (the clever developer behind the XRP Tip Bot Statistics Tracker) has generously volunteered to build the new capability; no doubt you'll see this account being used on 'crypto-Twitter' as soon as it becomes operational.

XRP Forensics

We've seen an alarming number of scammers attempting to target XRP owners recently; and starting in early 2018, a small group of volunteer XRP Community members that call themselves 'XRP Forensics' has taken on the role of protecting others from possible harm.

In addition to prevention of thefts, the group has also helped track stolen XRP once it is reported. While the group's members are proficient at helping to identify parties and exchanges that are connected to a theft, along with the movement of funds by criminals, it's always preferable to prevent these crimes rather than investigate them afterwards.

Along the lines of prevention, the group sent out a number of warnings recently for people in the XRP Community to heed:

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Here are the warnings from each of the previous tweets:

"๐˜”๐˜œ๐˜“๐˜›๐˜๐˜—๐˜“๐˜Œ ๐˜š๐˜Š๐˜ˆ๐˜” ๐˜ˆ๐˜“๐˜Œ๐˜™๐˜›: ๐˜›๐˜ฉ๐˜ฆ ๐˜ด๐˜ค๐˜ข๐˜ฎ๐˜ฎ๐˜ฆ๐˜ณ๐˜ด ๐˜ฉ๐˜ข๐˜ท๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฃ๐˜ถ๐˜ด๐˜บ ๐˜ค๐˜ณ๐˜ฆ๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜ด๐˜ช๐˜ต๐˜ฆ๐˜ด ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ธ๐˜ฆ๐˜ฆ๐˜ฌ๐˜ฆ๐˜ฏ๐˜ฅ. ๐˜š๐˜ต๐˜ข๐˜บ ๐˜ข๐˜ธ๐˜ข๐˜บ ๐˜ง๐˜ณ๐˜ฐ๐˜ฎ: ๐˜น๐˜ณ๐˜ฑ๐˜จ๐˜ช๐˜ท๐˜ฆ.๐˜ฏ๐˜ฆ๐˜ต, ๐˜ณ๐˜ช๐˜ฑ๐˜ฑ๐˜ญ๐˜ฆ๐˜จ.\๐˜ฏ๐˜ฆ๐˜ต, ๐˜น๐˜ณ๐˜ฑ-๐˜จ๐˜ช๐˜ท๐˜ฆ.\๐˜ฏ๐˜ฆ๐˜ต, ๐˜น๐˜ณ๐˜ฑ-๐˜จ๐˜ฆ๐˜ต.\๐˜ค๐˜ฐ๐˜ฎ, ๐˜น๐˜ณ๐˜ฑ-๐˜จ๐˜ฆ๐˜ต.\๐˜ฏ๐˜ฆ๐˜ต

๐˜ž๐˜ˆ๐˜™๐˜•๐˜๐˜•๐˜Ž - ๐˜›๐˜ฉ๐˜ฆ ๐˜ด๐˜ช๐˜ต๐˜ฆ ๐˜ณ๐˜ช๐˜ฑ๐˜ฑ๐˜ฆ๐˜ญ๐˜จ๐˜ช๐˜ท๐˜ฆ๐˜ข๐˜ธ๐˜ข๐˜บ๐˜ด2019.๐˜ต๐˜ถ๐˜ฎ๐˜ฃ๐˜ญ๐˜ณ.๐˜ค๐˜ฐ๐˜ฎ ๐˜ฉ๐˜ข๐˜ด ๐˜ค๐˜ญ๐˜ข๐˜ช๐˜ฎ๐˜ฆ๐˜ฅ ๐˜ฒ๐˜ถ๐˜ช๐˜ต๐˜ฆ ๐˜ข ๐˜ง๐˜ฆ๐˜ธ ๐˜ท๐˜ช๐˜ค๐˜ต๐˜ช๐˜ฎ๐˜ด. ๐˜‹๐˜– ๐˜•๐˜–๐˜› ๐˜š๐˜Œ๐˜•๐˜‹ ๐˜ข๐˜ฏ๐˜บ ๐˜Ÿ๐˜™๐˜— ๐˜ต๐˜ฐ ๐˜จ๐˜ช๐˜ท๐˜ฆ๐˜ข๐˜ธ๐˜ข๐˜บ ๐˜ด๐˜ช๐˜ต๐˜ฆ๐˜ด.

@๐˜ต๐˜ถ๐˜ฎ๐˜ฃ๐˜ญ๐˜ณ: ๐˜ž๐˜ฆ'๐˜ท๐˜ฆ ๐˜ณ๐˜ฆ๐˜ฒ๐˜ถ๐˜ฆ๐˜ด๐˜ต๐˜ฆ๐˜ฅ ๐˜บ๐˜ฐ๐˜ถ ๐˜ต๐˜ฐ ๐˜ณ๐˜ฆ๐˜ฎ๐˜ฐ๐˜ท๐˜ฆ ๐˜ต๐˜ฉ๐˜ช๐˜ด ๐˜ฑ๐˜ข๐˜จ๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ง๐˜ฐ๐˜ณ๐˜ฆ."

Needless to say, it's wise to heed these warnings; and if you know of any friend or family member that needs to be warned, please do so.

I advise members of the XRP Community to conduct their own due diligence on any websites or services prior to using them. Unfortunately, crypto is still a new financial market, and as such, is also a tricky area for newbies to navigate safely.

It's a wise move to give XRP Forensics a 'follow' if you have not done so already.

XRP Choice Awards

You've heard of the People's Choice Awards, right?

For fans that don't tend to agree with critics or their recommendations, the People's Choice Awards provides an avenue for expressing those preferences. Originally, Gallup polls were used to gauge the winners of each category, and then eventually this was switched to online voting after the age of the Internet.

And now, as of September 16แต—สฐ, a version of this idea is developing for the XRP Community as well:

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The event is scheduled for November 16แต—สฐ, which places it just six days after the Japanese meetup in Tokyo later this year.

The idea was started by @SincerelyGeorge (Twitter avatar) in an effort to help promote the XRP Community Fund, and raise money for potential community-sourced XRP projects.

Will the idea catch on? Are you curious about who should win one of the categories? To find out more, you can refer to the post on Coil that @SevenVengeful (Twitter avatar) created to explain the idea: Coil Content Review: September 18แต—สฐ, 2019 (and the XRP Community Choice Awards)

LINE App Lists XRP

To understand why a listing on the LINE application is so significant, you must first understand the customer base it has in Asia.

The LINE application, in the most concise explanation I can provide, is 'a text application on steroids.' It's available on both iOS and Android devices, but it's not a direct competitor to full-function social media sites, and it doesn't seem to have a compelling PC-based version like Twitter does.

But it's perfected the experience of texting, and is a light-weight application that is specifically designed to be adopted world-wide. Once you have the application open, it's very fun and engaging, with add-ons that enhance the experience of 'normal' texting with things like stickers, groups, and a customized timeline.

The customer base for LINE?

Just under one billion mobile device users. That's billion. Essentially, there are only a handful of applications that can boast a user base that amounts to hundreds of millions of people, and even less that have a consistent amount of user engagement. Essentially, even a small fraction of this market is significant, much like the numbers that are used to describe cross-border payments and the ForEx market.

This is why the recent announcement from LINE was so significant.

On September 17แต—สฐ, LINE formally announced that they were integrating Bitmax into their application, a virtual currency application that allows customers to directly purchase digital assets, including XRP:

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While members of the XRP Community - both Alex Cobb and XRP Research Center - emphasized the Japanese portion of the user base, keep in mind that LINE has enormous coverage throughout Asia. But the reason they emphasized Japan is because of the huge percentage of the overall population in that country that uses the application.

While some crypto traders may choose to remain skeptical, when I checked LINE's Facebook page, here's the message that was posted as the primary announcement:

LINE Bitmax integration

My guess is that Bitmax, which already boasts an enormous amount of daily trading volume, will receive a significant boost to its bottom line with this listing. Currently, the exchange ranks just after Bitstamp in terms of daily trade volume.

Those are the basics of the deal as I understand them.

The integration of Bitmax into Line is very big news because of the raw size of LINE's user base. If even a small portion of LINE's customer base ends up purchasing XRP, it could result in a significant and permanent boost to the network's global liquidity.

Viral XRP GIFs

The XRP Tip Bot has inspired the imaginations of many people that are new to digital assets. The convenience of true 'Internet money' is realized with the convenience of Wietse Wind's popular application, and because of its intuitive interface, it's been used for a wide variety of low-value money transfers for almost two years now.

To demonstrate some of the potential behind the XRP Tip Bot, @_JonnyLawrence (Twitter avatar) decided to create one of his distinctive GIFs:

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Wietse Wind loved the short visual demonstration as well. It's another addition to the collection of GIFs that @_JonnyLawrence has created thus far. To see more of his creations, just navigate to his main Twitter account, which he's used to share them with the rest of the XRP Community: @_JonnyLawrence.

Video: XRP Tip Bot

If you don't yet know about XRP The Standard Productions, my recommendation is that you explore their growing collection of videos to see if there's a video that you may be able to share with a friend or family member. They also make great standalone posts for educational reminders to your associates on social media.

The flavor of the channel is definitely that of an educational or marketing video, and the channel's owner - the same XRP Community member behind @XRPeteSampras (Twitter avatar) - has sponsored previous community promotions like the short story contest that took place in the summer of 2018.

The channel's latest video, 'The XRP Tip Bot,' demonstrates the XRP Tip Bot, and provides some of the history and facts around the social media application:

The strength of the XRP Tip Bot is how easy it is to sign up and use; the video goes over these basics, and emphasizes the fact that the recipient of your tip doesn't even need to have an account - you can freely tip a person and the application will create an account for them if none exists.

The video contains the voice of Ray Witbeck, and his voice sounds professional and smooth; congratulations to both XRP the Standard Productions, and Ray Witbeck on this great, new, share-worthy video!

My Prediction: 'Hybrid Inverse Correlation'

From what I've seen during stable financial times - and that's been the last ten years, essentially - is that the cryptomarket is still very much separate from the ordinary markets, and was originally completely disconnected.

In the last two years, however, I've been under the impression that when times are good, people tend to take more risks.

And that means 'trying out' new asset classes such as digital assets. But I think the industry is also evolving, at the same time that the traditional economy is heading towards a correction. Now, digital assets do not possess the same type of mystery as they once did. Investors have more resources, and those that wished to learn more about them have now done so; the 'newness' factor - and its ability to intimidate some investors - is decreasing.

Now these same investors have the ability to cash in their stocks and easily switch over to buying digital assets.

For example, in Japan, if I have an account at SBI Securities, I can easily start trading cryptocurrency on SBI VC; this is a new development, and it's reflecting a key difference that may mean digital assets will play a unique 'safe-haven' role during a downturn.

We've seen people flock to crypto in large numbers during the Greek debt crisis. We've seen the demand for digital assets spike in Venezuela during recent political unrest.

This same trend will hold true in the West in the event of an election-year economic hiccup or correction, I predict.

This is what I label 'Hybrid Inverse Correlation:' A weak direct relationship during good economic times, and a **strong inverse **relationship during bad economic times.

But don't take my word for it; I'm definitely not an economist. Like you, I'm counting on a combination of my own observations and research to guide my investment decisions. And given my own first-hand experience, I predict that citizens worldwide will wisely choose to invest in the one limited-supply digital asset that is used for real business: XRP.

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Sources and Credits:

Cover Art: Thank you to Florian Gagnepain
RV Photo: Thank you to Ahmad
To subscribe to my blog on Coil: @Hodor
To purchase a $5 dollar Coil subscription ad help build the Internet of Value: Signup at Coil


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Hodor

Hodor

I blog about Ripple & XRP. FULL DISCLOSURE: All views are my own. I do not work for Ripple; I am not a professional financial analyst, and the majority of my crypto holdings are XRP.

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