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Europe Fast-Tracking XRP Payments & Digital Euro?🔥 · The Paul Barron Crypto Show

• 0:06
  Speaker 1: Europe is of course set now to fast track digital payments.
• 0:09
  Speaker 1: It looks like it might be on XRP. We'll break
• 0:11
  Speaker 1: it down for you guys today. My name is Paul Barrel.
• 0:13
  Speaker 1: Welcome back in a tech path, get started, and of
• 0:15
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  Speaker 1: for you, so check it out, all right. So I
• 0:48
  Speaker 1: want to jump to this first clip, and this is
• 0:49
  Speaker 1: Kristin Lagard of the ECB and really what this is
• 0:53
  Speaker 1: about is the fact that Europe was in many cases
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  Speaker 1: moving very very slow across the idea, across the idea
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  Speaker 1: of a digital Euro. She addresses this in this clip.
• 1:03
  Speaker 1: Take a look.
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  Speaker 2: We are waiting for you. I would very much dislike
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  Speaker 2: to see myself in this position in a year's time,
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  Speaker 2: still arguing that the digital euro is an instrument of
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  Speaker 2: our sovereignty.
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  Speaker 1: Trump's support of the dollar pegged crypto will fast track
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  Speaker 1: the digital euro approval. This is coming in from the ECB,
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  Speaker 1: so that could be one of the instigators have been
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  Speaker 1: being able to kind of kick Europe off into a
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  Speaker 1: much faster process. Here, all right, so I want to
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  Speaker 1: go to this Bloomberg article. This is just here recently
• 1:35
  Speaker 1: February twentieth. So the topic ECB wants to establish a
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  Speaker 1: blockchain payment based system. A couple of points within the
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  Speaker 1: article that are very key as soon as feasible. Number one,
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  Speaker 1: the Central Bank wants to develop a blockchain platform that
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  Speaker 1: is linked to the existing target settlement system. Okay, and
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  Speaker 1: then after that they want a more integrated long term solution.
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  Speaker 1: So that is a huge step in the right addiction direction.
• 2:00
  Speaker 1: So basically what they're trying to do is get the
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  Speaker 1: quick fix be able to move into what will be
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  Speaker 1: a blockchain payment system going forward. If you look at
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  Speaker 1: the list of stakeholders participating in this, which is their
• 2:12
  Speaker 1: Wave one. Almost all of these are banks. You'll recognize
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  Speaker 1: quite a few of those. A lot of these are
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  Speaker 1: international and within the EU in terms of the banks
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  Speaker 1: that are interested in being able to move forward on this.
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  Speaker 1: So when you look at that of what they're trying
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  Speaker 1: to do in terms of the initiative going forward, the
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  Speaker 1: fact that they do want to go faster, then the
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  Speaker 1: question is which blockchain will they choose? What's it going
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  Speaker 1: to look like? Well, this European Central Bank and the
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  Speaker 1: Bank of Japan was a test that they did. If
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  Speaker 1: you look down here on page seven, I'll jump down
• 2:41
  Speaker 1: there to page seven and they get into this section
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  Speaker 1: called selected private sector Initiatives and within that, Ripple has
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  Speaker 1: developed x Current, which connects to the financial institutions via
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  Speaker 1: the global network and that is where Ripple Net starts
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  Speaker 1: to play into this. So essentially it's Ripple that has
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  Speaker 1: the plug and the potential lead on being able to
• 3:02
  Speaker 1: participate in the Digital Euro. And with that being said,
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  Speaker 1: you have to look at the Digital Euro Association, which
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  Speaker 1: is also partnered with Ripple. Their statement right here was
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  Speaker 1: Digital Euro is delighted to announce a partnership with Ripples
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  Speaker 1: supporting partner jointly working on the CBDCs and Ripple. So again,
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  Speaker 1: this could be interesting as we start to see this
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  Speaker 1: play out if in fact they are concerned that the
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  Speaker 1: United States could be taking the lead on the global scale.
• 3:30
  Speaker 1: And of course you've got Christina Laguard and the EU
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  Speaker 1: looking at that. You look at what's happening on the
• 3:35
  Speaker 1: RLUSD fort front, and of course you have to look
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  Speaker 1: at the acceleration of RLUSD. This was back in early
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  Speaker 1: January when first hit and it already had started to
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  Speaker 1: take and move up the ranks in terms of volume,
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  Speaker 1: and that may have been what started to get the
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  Speaker 1: attention of the EU and said, hey, we got to
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  Speaker 1: get moving on all this. The ECB says note to
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  Speaker 1: bitcoin and yes to XRP and blockchain and banking. So
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  Speaker 1: clear that they've made their decision on how they're going
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  Speaker 1: forward on payments and the architecture for what we will
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  Speaker 1: see as the digital Euro. I want to go to
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  Speaker 1: a clip real quick, and this clip is Christin Leguards
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  Speaker 1: talking about why maybe why they chose but more importantly
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  Speaker 1: why they didn't choose bitcoin.
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  Speaker 2: Take a look whether reserves of Central Bank should or
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  Speaker 2: could include bitcoins. I think there's a view around the
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  Speaker 2: table of the Governing Council, and most likely you should
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  Speaker 2: the General Council as well, that reserves have to be liquid,
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  Speaker 2: that reserves have to be secure, that they should not
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  Speaker 2: be plugged by the suspicion of money laundering or other
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  Speaker 2: criminal activities. And as a result, I'm confident that bitcoins
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  Speaker 2: will not enter the reserves of any of the central
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  Speaker 2: banks of the General Council.
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  Speaker 1: So pretty harsh statements there on the bitcoin community in
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  Speaker 1: terms of the ECB coming in from the guard and
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  Speaker 1: it appears that that XRP meets those demands for them
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  Speaker 1: to be involved in this so very big deal. Remember
• 5:06
  Speaker 1: Ripple named Michael Barr as an advisor, Well right there,
• 5:11
  Speaker 1: it was a pleasure to meet Michael Barr at the
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  Speaker 1: Federal Reserve Vice Chair for Supervision in Frankfurt, and of
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  Speaker 1: course right there partnered up with the ECB. This is
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  Speaker 1: the kind of thing that really starts the ball rolling
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  Speaker 1: and has been developing over a very long period of time.
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  Speaker 1: Let's go on to another clip real quick, and I
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  Speaker 1: want to get into this one because this is where
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  Speaker 1: she talks about Ripple really almost replacing the concept of
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  Speaker 1: banks in Europe. Take a look, what kind of threat
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  Speaker 1: does this post to the traditional banking system.
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  Speaker 2: Well, I think it's you have incumbents, the banks, commercial banks,
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  Speaker 2: and you have the disruptors. And clearly the disruptors are
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  Speaker 2: having an impact on the incumbents. The difference will not
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  Speaker 2: be between those who were disrupted and those who survived,
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  Speaker 2: but it will be between those who are cannibalized because
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  Speaker 2: they are not seeing it coming and they're not embracing it.
• 6:03
  Speaker 2: And I'm using cannibalization on purpose because it's a bit
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  Speaker 2: of a striking horrible word, but it's really what it means.
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  Speaker 2: You're going to disrupt your business model, You're going to
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  Speaker 2: change it, you're going to reduce your costs, you're going
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  Speaker 2: to expedite your transactions. So that's where I see changes happening. Now,
• 6:18
  Speaker 2: if you think of Circle and Ripples and all those,
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  Speaker 2: that's where they are active and helpful.
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  Speaker 1: All right, So she mentioned Circle, USDC and Ripple of
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  Speaker 1: course in all of this, and it's amazing to me
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  Speaker 1: to see the transition over time of Europe and especially
• 6:35
  Speaker 1: with Crystal Leguard, in terms of the legacy finance instruments
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  Speaker 1: that are being used in Europe today. And I think
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  Speaker 1: she's right because we're going to see this most likely
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  Speaker 1: in the United States as well. I think we're on
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  Speaker 1: the very edge of some pretty big things. They're going
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  Speaker 1: to change and shift the global financial products around the world,
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  Speaker 1: and Ripple could be at the center of this. If
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  Speaker 1: you look at the Digital Euro conference, which is coming
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  Speaker 1: up right here in Frankfurt just around the corner in March,
• 7:00
  Speaker 1: and you go over, let's just take a look at
• 7:02
  Speaker 1: their sponsors and we'll go down to their sponsors page.
• 7:05
  Speaker 1: Right there it is Ripple another sponsor. Also if you
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  Speaker 1: look at their agenda, speakers from Ripple also participating in this.
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  Speaker 1: It looks as though this is a lock. And if
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  Speaker 1: this means payments on Ripple in Europe and CBDC for
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  Speaker 1: Europe the Digital Euro, this could be a very intriguing
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  Speaker 1: time for the rest of the world to maybe jump in.
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  Speaker 1: So Larry Fink says, wait a minute, maybe it's time
• 7:31
  Speaker 1: to invest in Europe right now. Take a look. I
• 7:35
  Speaker 1: believe it's probably time to be.
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  Speaker 2: Investing back into Europe focusing on it.
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  Speaker 1: President Laguard, I bet you didn't expect to kick off
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  Speaker 1: the panel with a vote of confidence for Europe.
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  Speaker 2: Going to say to Larry that if ever you look
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  Speaker 2: for a pro bono job, come and join us in Europe.
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  Speaker 1: All right, So they're chumming it up right there. Of course,
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  Speaker 1: I think there's some backroom talk, of course, on the discussion,
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  Speaker 1: we think and leguard in what this might look like.
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  Speaker 1: Blackrock of course will be giant in terms of investing
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  Speaker 1: in that if we have a payment architecture that's starting
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  Speaker 1: to accelerate, we'll look at all sorts of things that
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  Speaker 1: I think will go blockchain base. So that meaning could
• 8:16
  Speaker 1: Larry could think be in a position where he's really
• 8:19
  Speaker 1: starting to leverage in too, maybe an XRP ETF, because
• 8:22
  Speaker 1: that could be the next stepping stone for Blackrock going
• 8:26
  Speaker 1: into the next phase. So you can see a lot
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  Speaker 1: of global moves right now that are starting to impact
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  Speaker 1: the global financial system, and it appears as though Ripple
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  Speaker 1: is right in the crosshairs of all of this development,
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  Speaker 1: including obviously the XRP ledger, which is going to be
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  Speaker 1: a unbelievable opportunity. We've got a lot of news still
• 8:44
  Speaker 1: to come yet on what's going on with XRP. Make
• 8:46
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