Latest / The Paul Barron Crypto Show / Tokenized Gold Officially Legal Tender!🚀XRP Las Vegas🚨 Andy Schectman INTERVIEW

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Tokenized Gold Officially Legal Tender!🚀XRP Las Vegas🚨 Andy Schectman INTERVIEW · The Paul Barron Crypto Show

• 0:05
  Speaker 1: Recording here from the XRP Las Vegas event. And guess
• 0:10
  Speaker 1: who has joined me on the set. My old friend
• 0:12
  Speaker 1: mister Andy Scheckner. How are you good to be here, Paul,
• 0:15
  Speaker 1: Thanks for having me.
• 0:15
  Speaker 2: I'm good, Andy.
• 0:17
  Speaker 1: Big news right now, Florida is saying, wait a minute,
• 0:21
  Speaker 1: gold might.
• 0:22
  Speaker 2: Be a thing.
• 0:23
  Speaker 1: Explain to me what this means for gold and how
• 0:25
  Speaker 1: will Florida execute on this.
• 0:28
  Speaker 2: Well, it's a big deal. I mean. Governor DeSantis basically
• 0:30
  Speaker 2: said gold and silver are legal tender for all that's
• 0:33
  Speaker 2: public and private, including going as far as paying your
• 0:36
  Speaker 2: property tax at the you know, the county offices or
• 0:40
  Speaker 2: your tabs, you know, your car tabs. You can use
• 0:44
  Speaker 2: gold and silver. Now, you can't make them take it
• 0:46
  Speaker 2: if they don't want to, whatever shop that is. But
• 0:49
  Speaker 2: if you come to a mutual agreement, it is now
• 0:51
  Speaker 2: legal tender with no sales tax.
• 0:53
  Speaker 1: Yeah.
• 0:53
  Speaker 2: As far as the physical side of things, it's a
• 0:56
  Speaker 2: little bit interesting how they've done it. They basically said
• 1:00
  Speaker 2: American coins eagles or buffaloes are fine, and then that's
• 1:04
  Speaker 2: it other than bars with no picture on it, other
• 1:07
  Speaker 2: than the hallmark and the purity, and that's it. So
• 1:10
  Speaker 2: what's interesting is that the bars at Costco has been selling. Yeah,
• 1:14
  Speaker 2: the Pamps Swiss have Lady Fortuna, which is a Greek
• 1:20
  Speaker 2: mythological character. They cannot be used as legal tenor because
• 1:24
  Speaker 2: there's a picture on it. So at least from a
• 1:26
  Speaker 2: standpoint of physical it's American gold coins and silver coins
• 1:30
  Speaker 2: and then bars that have just a purity in hallmarkd
• 1:33
  Speaker 2: on it.
• 1:33
  Speaker 1: So my question to you, Andy would be, obviously gold
• 1:37
  Speaker 1: has always had the challenge of transport. It has been
• 1:41
  Speaker 1: the big issue of hey, how do we digitize gold. Yeah,
• 1:44
  Speaker 1: if we're in a position right now where finally the
• 1:47
  Speaker 1: blockchain is enabling that we're seeing a lot of this
• 1:49
  Speaker 1: happening are already within the XRP ecosystem. If that were
• 1:54
  Speaker 1: to happened in say, the state of Florida, how big
• 1:57
  Speaker 1: would that be?
• 1:57
  Speaker 2: It's huge. What to me would make it extraordinary would
• 2:01
  Speaker 2: be the ability to not only use it for utility,
• 2:04
  Speaker 2: but to also possess it. If you wish to go
• 2:07
  Speaker 2: to the vault that's run by the state and say,
• 2:09
  Speaker 2: you know, here's one hundred thousand dollars that I would
• 2:13
  Speaker 2: like to you know, in my digital form that I
• 2:15
  Speaker 2: would like to possess in real form if you ever,
• 2:19
  Speaker 2: if someone were able to cross that bridge where it
• 2:22
  Speaker 2: could be exchanged. I know Texas had talked about it. Yeah,
• 2:25
  Speaker 2: it's a home run.
• 2:26
  Speaker 1: Well, and I think the key here is going to
• 2:28
  Speaker 1: be if there is a company out there that is
• 2:31
  Speaker 1: starting to work on more of a consumer facing because
• 2:33
  Speaker 1: we haven't seen this kind of regulation that would give
• 2:36
  Speaker 1: an opportunity to maybe a new cottage industry around digitizing gold,
• 2:41
  Speaker 1: putting it in an app, going on the blockchain with it,
• 2:43
  Speaker 1: converting your physical gold into digital and then at some
• 2:47
  Speaker 1: point finding its way into a payment architecture, especially if
• 2:51
  Speaker 1: Florida is one of those that could lead the way.
• 2:53
  Speaker 2: Well, in Texas's just more or less mimic the entire
• 2:56
  Speaker 2: bill that Florida has, and they're voting on it. Maybe
• 2:58
  Speaker 2: they did yesterday, they do on Monday or Tuesday. I mean,
• 3:01
  Speaker 2: it's right, the votes coming up really really soon if
• 3:03
  Speaker 2: it hasn't just happened today. In fact, I think it
• 3:08
  Speaker 2: might be today. But the point of it is is
• 3:09
  Speaker 2: that the opportunities are are insane and they're enormous, and
• 3:13
  Speaker 2: you have here the largest states in the country.
• 3:15
  Speaker 1: That are exactly okay. So that's the point. You look
• 3:18
  Speaker 1: at Texas Florida obviously would I would consider maybe Tennessee.
• 3:23
  Speaker 2: Is a potential just in Oklahoma.
• 3:26
  Speaker 1: So there's a bun you tell, a domino effect.
• 3:29
  Speaker 2: I do, Yeah, I do.
• 3:30
  Speaker 1: And it's going to be good for your guys.
• 3:32
  Speaker 2: Well, so what's really it is? It will be it
• 3:35
  Speaker 2: should be huge. One of the things I had an
• 3:37
  Speaker 2: interview with the Sound Money Defense Organization and they believe,
• 3:43
  Speaker 2: again this is secondhand that Trump says, look, if we
• 3:45
  Speaker 2: can get it passed in Florida, that he would actually
• 3:48
  Speaker 2: consider rolling back and removing the capital gains tax on
• 3:52
  Speaker 2: selling goldest and using it on a transactional basis, which
• 3:55
  Speaker 2: would be massive.
• 3:56
  Speaker 1: Yeah, digital gold and physical gold make it this way
• 4:00
  Speaker 1: on the blockchage, yes, and finding the right kind of
• 4:03
  Speaker 1: companies that are starting to leverage against that, and what
• 4:05
  Speaker 1: that future might look like is going to be here.
• 4:07
  Speaker 2: Well, for me, what makes it legitimate is the fact
• 4:09
  Speaker 2: that a have the state behind it, yep, and it
• 4:11
  Speaker 2: would be held in a state sponsored and approved vault
• 4:14
  Speaker 2: with the ability to convert. Now, Texas had talked about
• 4:17
  Speaker 2: that if you can convert your digital goal into physical goal,
• 4:20
  Speaker 2: if you desire, whether or not you ever do it
• 4:23
  Speaker 2: to me. That just says legitimacy, like, yeah, let's here.
• 4:25
  Speaker 2: If you want it, fine, then you don't have to
• 4:28
  Speaker 2: question the backing. The blockchain shows the blocking and the
• 4:31
  Speaker 2: ability to receive it from a audited and state approved
• 4:35
  Speaker 2: segregated vault. It's a home run. I love it.
• 4:38
  Speaker 1: Hey, listen, we're going to be getting you on stage
• 4:40
  Speaker 1: here in a little bit, so we'll actually have a
• 4:42
  Speaker 1: session on this. I don't know if we'll get a
• 4:44
  Speaker 1: chance to record it. So you guys got a breaking
• 4:48
  Speaker 1: Andy Scheckman analysis of what this might mean a stay.
• 4:51
  Speaker 2: It's huge, man, And you know what last thing I'll
• 4:53
  Speaker 2: leave you with them. Thanks for having me, Paul. The
• 4:56
  Speaker 2: message I brought here last year is the same message
• 4:58
  Speaker 2: I bring here today, and that these two communities are
• 5:01
  Speaker 2: far stronger when we're connected instead of being adversarial. There's
• 5:04
  Speaker 2: no reason right in many respects, we see the world similar.
• 5:08
  Speaker 2: Maybe one wants to make some profit and my camp
• 5:11
  Speaker 2: is more along the lines of keeping that profit preserving.
• 5:14
  Speaker 2: So I think it's just it's it's just better together.
• 5:18
  Speaker 1: Yeah, it's a win win