Latest / The Paul Barron Crypto Show / XRP & $RLUSD Going Cross-Chain!️‍🔥Axelar + Ripple INTERVIEW

Transcript

XRP & $RLUSD Going Cross-Chain!️‍🔥Axelar + Ripple INTERVIEW · The Paul Barron Crypto Show

• 0:05
  Speaker 1: Today we're going to be breaking down a little bit
• 0:07
  Speaker 1: about XRP and XRPL and all of that and how
• 0:11
  Speaker 1: it pertains to rl USD. If you want to know
• 0:14
  Speaker 1: anything about the ecosystem. This is a video for you guys,
• 0:17
  Speaker 1: So stick around. My name is Paul Barrew. Welcome back
• 0:18
  Speaker 1: in the tech path. I do want to thank our sponsor,
• 0:20
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• 0:23
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• 0:29
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• 0:32
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• 0:40
  Speaker 1: at uphold. All right, guys, let's get into a couple
• 0:42
  Speaker 1: of things I want to jump into, and of course,
• 0:44
  Speaker 1: one of the things you got to look at is
• 0:46
  Speaker 1: what's happening over within the rl USD ecosystem. If you
• 0:49
  Speaker 1: look at the just the stable coin market right now,
• 0:53
  Speaker 1: what you're seeing right there, let me kind of zoom
• 0:55
  Speaker 1: in on that for you a little bit. You'll notice
• 0:56
  Speaker 1: that PayPal, p y us D and rl USD when
• 1:00
  Speaker 1: it comes to the twenty four hour activity and volume
• 1:05
  Speaker 1: are LUSD starting to show some signs of potential market
• 1:09
  Speaker 1: control here. So cool to watch, I think, especially for
• 1:12
  Speaker 1: a lot of our audience that are big into the
• 1:15
  Speaker 1: XRP ecosystem, so liquidity is a big part of that.
• 1:18
  Speaker 1: I think this is interesting to see this happen. And
• 1:21
  Speaker 1: when you think about some of the ecosystems that are
• 1:23
  Speaker 1: involved in this, one of course is axel Are you
• 1:26
  Speaker 1: guys have heard us talk about AXLR before. We're going
• 1:28
  Speaker 1: to have them on the show today. But you can
• 1:30
  Speaker 1: kind of see just the potential here for a lot
• 1:33
  Speaker 1: of interoperability, a lot of chains already you'll see many
• 1:38
  Speaker 1: that you recognize there, but most likely we're going to
• 1:39
  Speaker 1: see a lot more coming in as well. So that's
• 1:43
  Speaker 1: a big part of it in terms of the growth
• 1:45
  Speaker 1: of our LUSD, but also just the XRP ecosystem. And
• 1:49
  Speaker 1: then last I want to show a little bit just
• 1:51
  Speaker 1: the amount of transaction volume that has really started to
• 1:54
  Speaker 1: move up on axelair here recently, so not bad in
• 1:57
  Speaker 1: terms of overall volume as well as transaction continuing to climb.
• 2:01
  Speaker 1: You have to think, man, there's got to be some
• 2:03
  Speaker 1: really big things happening within this ecosystem. So we thought
• 2:06
  Speaker 1: let's get two experts on the show to really dive
• 2:09
  Speaker 1: into that. And joining me today of course is Jasmine
• 2:12
  Speaker 1: Cooper Jazzy, who is the head of DeFi over at Riplex,
• 2:16
  Speaker 1: and then Georgios Vlachos, who is the co founder and
• 2:20
  Speaker 1: director over at Axelar. So great to have you guys
• 2:22
  Speaker 1: on the show. Thanks for having us, you bet excellent.
• 2:25
  Speaker 1: So having us first of all, I want to kind
• 2:26
  Speaker 1: of just you know, throw out the idea of the
• 2:29
  Speaker 1: fact that we've seen such amazing volume in a very
• 2:32
  Speaker 1: short period of time, both for rl USD but also
• 2:36
  Speaker 1: the ecosystem. Are you guys surprised at the activity in
• 2:41
  Speaker 1: such a short time. Georgio's just kind of lead off
• 2:43
  Speaker 1: with you, what are your thoughts?
• 2:45
  Speaker 2: Yeah, I mean, ARLIUSD is interesting. The leading use case
• 2:49
  Speaker 2: on the XRPL has been remittance. Is Historically people have
• 2:53
  Speaker 2: been doing it through XRP as the intermediatey assets. Now
• 2:56
  Speaker 2: there's an even easier way by holding r l USD.
• 3:00
  Speaker 2: But XRPL has a lot of markets here in the
• 3:06
  Speaker 2: field of remittancies and it's just a very natural product, right,
• 3:09
  Speaker 2: And I mean I'm not surprised at all by the volume.
• 3:13
  Speaker 2: And it's also great for the existing XRPL ecosystem because
• 3:17
  Speaker 2: when you're doing transactions with r l USD, most of
• 3:19
  Speaker 2: the transactions are on the XRPL. You pay us in XRP,
• 3:22
  Speaker 2: so it's also great for the XRPS it itself.
• 3:25
  Speaker 1: Sure, obviously, Jasmine, you're going to be evolved. You're evolved
• 3:29
  Speaker 1: a lot in the DeFi side of things. This could
• 3:32
  Speaker 1: get into a scenario where we've got a lot of
• 3:35
  Speaker 1: situations in terms of liquidity, pairs coming, all that good stuff.
• 3:39
  Speaker 1: Anything that has surprised you guys so far in what
• 3:43
  Speaker 1: we've seen with just the activity, especially around r l USD, Yeah, no.
• 3:48
  Speaker 3: Major surprises to date.
• 3:50
  Speaker 4: You know, just as cash powers and majority of the
• 3:54
  Speaker 4: financial system. You need it for settlement, you need it
• 3:56
  Speaker 4: for payments, you need it for liquidity. Same goes for
• 4:00
  Speaker 4: coins in crypto and DeFi, and so from a rippeal perspective,
• 4:05
  Speaker 4: we're trying to power you know, real value, really utility
• 4:09
  Speaker 4: use cases like remittances, payments, et cetera for financial institutions,
• 4:14
  Speaker 4: and so we don't, you know, expect them to lower
• 4:16
  Speaker 4: their bar in terms of quality, security, scalability when operating
• 4:21
  Speaker 4: on extrap ledger or within blockchain. So that's really why
• 4:25
  Speaker 4: we brought our LUs D to the market and aim
• 4:28
  Speaker 4: to have the highest level of standards in those areas.
• 4:31
  Speaker 4: So yeah, not surprised by the volume and excited to
• 4:35
  Speaker 4: see where it goes from here.
• 4:37
  Speaker 1: Let's talk about EVM side chain. This is the one
• 4:41
  Speaker 1: of the founders over at xp market. He did a
• 4:43
  Speaker 1: tweet that I thought was interesting because this was a
• 4:46
  Speaker 1: breakdown on, you know, some of the issues that I
• 4:47
  Speaker 1: think the market. Let me kind of zoom in on
• 4:49
  Speaker 1: that for you guys, so you can see a little
• 4:50
  Speaker 1: bit there, some of the challenges that the market would
• 4:52
  Speaker 1: look at. Interoperability there, some of the liquidity still growing,
• 4:57
  Speaker 1: the potential there, trading utility is still you know, and
• 5:01
  Speaker 1: again for our l u st this is a brand
• 5:03
  Speaker 1: new project, brand new token out there in terms of
• 5:06
  Speaker 1: stable coin. What is kind of the next best low
• 5:09
  Speaker 1: hanging fruit for you guys to kind of start to
• 5:12
  Speaker 1: improve on that.
• 5:13
  Speaker 4: So there's a number of different different challenges and sort
• 5:15
  Speaker 4: of three overlapping ecosystems. There's the exer pl main net chain,
• 5:20
  Speaker 4: there's the EVM side chain, and then there's a number
• 5:22
  Speaker 4: of other top you know, blockchains that will be connected
• 5:25
  Speaker 4: to through the the excel our network, and so I
• 5:28
  Speaker 4: think there's a different opportunity in each of those spaces,
• 5:32
  Speaker 4: and we can can kind of go into that, but
• 5:34
  Speaker 4: at a high level, you know, Ripple recently launched its
• 5:38
  Speaker 4: initial version of payments on decks, so bringing a part
• 5:41
  Speaker 4: of its payments product from centralized exchanges to the decentralized exchanges,
• 5:45
  Speaker 4: and that's on exor Po main net. EVM side chain
• 5:49
  Speaker 4: is basically a way to expand the existing DeFi capabilities.
• 5:53
  Speaker 3: On main net. So main net, you know, we believe is.
• 5:56
  Speaker 4: Best in class at a limited number of financial protocols
• 5:59
  Speaker 4: that's pay and trading and then hopefully lending in twenty
• 6:02
  Speaker 4: twenty five. But you know, from there on there's a
• 6:06
  Speaker 4: lot of innovation going on and DeFi that xorpl may
• 6:09
  Speaker 4: net might not be the best place you know, for
• 6:12
  Speaker 4: that to take place, like perpetuals trading for example. So
• 6:15
  Speaker 4: that's where you know EBM side chain comes in. That's
• 6:18
  Speaker 4: where bridging to other protocols through XLR comes in as well,
• 6:21
  Speaker 4: and just creates a lot of new utility opportunities for
• 6:25
  Speaker 4: rl U S, t x RP and for the users
• 6:27
  Speaker 4: and holders of those turkens.
• 6:29
  Speaker 2: Yeah, and it challenge is like or raised you know
• 6:31
  Speaker 2: on social media, is still very early for r l
• 6:34
  Speaker 2: us D. Right, it's it's a growing asset. Everything will
• 6:38
  Speaker 2: improve over time. I think it helps to think of
• 6:43
  Speaker 2: XRPL as what it's best in classes. Right, XRPL, to
• 6:48
  Speaker 2: my knowledge, was the first blocks in to do asset organization.
• 6:52
  Speaker 5: That was years before.
• 6:54
  Speaker 2: If you re may not even launched, I believe it
• 6:56
  Speaker 2: had the first or one of the first or the
• 6:59
  Speaker 2: books on chain. And as Jasi mentioned, those primitives are
• 7:03
  Speaker 2: very strong and are very easy to use on the XRPL.
• 7:07
  Speaker 2: But we cannot dispute that there's so much innovation on
• 7:12
  Speaker 2: other ecosystems over the past few years. Right, Ethereum has
• 7:16
  Speaker 2: a lot of very strong defy primitives, AMMS, lending protocols.
• 7:22
  Speaker 2: It's not I mean, it's clear that big money managers
• 7:26
  Speaker 2: like black Rock are tognizing on the ethereum blocking, so
• 7:30
  Speaker 2: the innovation there cannot be discounted. And by launching and
• 7:33
  Speaker 2: EVM compatible chain that's specific to the XRPL ecosystem, this
• 7:39
  Speaker 2: will allow XRP holders who don't want to take their
• 7:42
  Speaker 2: XRP and go to another ecosystem, they don't want to
• 7:44
  Speaker 2: sell it to natively use all these innovations, right, So
• 7:48
  Speaker 2: it augments the capabilities of the XRPL with all of
• 7:52
  Speaker 2: the innovation that we've seen in the ethereum space over
• 7:57
  Speaker 2: the past few years. And as a wholder of XRP,
• 8:00
  Speaker 2: you will be able to do interesting things like, well,
• 8:02
  Speaker 2: let's get a loan on my XRP, because you know,
• 8:05
  Speaker 2: you know these XRP people like they're very very big
• 8:08
  Speaker 2: believers and XLP sometimes they don't want to sell. You
• 8:10
  Speaker 2: get a loan on a stable coin and you can
• 8:13
  Speaker 2: use it to pay your expenses. That's going to be
• 8:15
  Speaker 2: very very easy to do on DVM side chain, and
• 8:18
  Speaker 2: that all of acceler will be too securely breeds XRP
• 8:21
  Speaker 2: to do chain so that people can use it to pay
• 8:23
  Speaker 2: for gas and use it to do other interesting functionalities.
• 8:28
  Speaker 1: So Uphold our sponsor. They obviously are paying yield on XRPL. Now,
• 8:34
  Speaker 1: the likelihood is this is going to create some demand
• 8:37
  Speaker 1: for it, not only on Uphold but also maybe on
• 8:39
  Speaker 1: some other you know, exchanges out there where we'd start
• 8:42
  Speaker 1: to see the stable coin be available. How long before
• 8:45
  Speaker 1: you think we'll see more availability of rl USD, especially
• 8:51
  Speaker 1: around some of the major chains are exchanges out there,
• 8:54
  Speaker 1: anything you can share, Jazzy.
• 8:57
  Speaker 3: Yeah, I mean I don't.
• 8:59
  Speaker 4: I don't have specific big launch dates or partnerships that
• 9:02
  Speaker 4: I can list off now. But you know, if you
• 9:05
  Speaker 4: think about it, r l U s D really just
• 9:07
  Speaker 4: just launched, just came to market, and it was in
• 9:09
  Speaker 4: the middle of the holiday period. I know there's there's
• 9:13
  Speaker 4: a big team behind the project and there uh you know,
• 9:16
  Speaker 4: spending a lot of time partnering with the right industry
• 9:18
  Speaker 4: experts to figure out what are the key key places
• 9:22
  Speaker 4: for r l U s D to be available to
• 9:24
  Speaker 4: really maximize accessibility, utility, et cetera.
• 9:27
  Speaker 3: So I expect, you know.
• 9:29
  Speaker 4: In Q one and especially throughout H one to see uh,
• 9:33
  Speaker 4: you know, more and more adoption on the critical entry
• 9:35
  Speaker 4: points across crypto.
• 9:37
  Speaker 1: Right, I want to jump to the Interchange Token service. Uh,
• 9:41
  Speaker 1: Georgie's real quick. I was looking at a tweet you
• 9:43
  Speaker 1: guys had and this video that you have on the
• 9:46
  Speaker 1: on the x account there kind of shows the the
• 9:49
  Speaker 1: ease of being able to launch a token that can
• 9:52
  Speaker 1: go across a variety of chains all at the same time.
• 9:55
  Speaker 1: And when you look at that, why aren't we seeing
• 9:57
  Speaker 1: first of all, guest, why aren't we seeing more dat
• 10:00
  Speaker 1: is kind of moving in that direction around its and
• 10:04
  Speaker 1: can you give us a little bit more clarity of
• 10:06
  Speaker 1: what it does and how it works.
• 10:07
  Speaker 2: Well, it's undisputable at this point in time that there's
• 10:10
  Speaker 2: gonna be a lot of change. If you follow me
• 10:13
  Speaker 2: on X like I talked about a million chains with
• 10:16
  Speaker 2: which I think is a perfectly viable outcome in the
• 10:19
  Speaker 2: next five years.
• 10:20
  Speaker 5: I'm happy to talk more about that. But developers are
• 10:24
  Speaker 5: launching all kinds of assets.
• 10:26
  Speaker 2: If we look at the category of RWAs or stable
• 10:29
  Speaker 2: coins like r l USD, those are assets that are
• 10:34
  Speaker 2: valuable for every single application. And today we're in a
• 10:38
  Speaker 2: world where the biggest DeFi applications like UNISWAP and many
• 10:42
  Speaker 2: many others are launching their own change. So without interoperability,
• 10:47
  Speaker 2: productive assets like stable coins like token ize treasury products
• 10:52
  Speaker 2: are not going to be available on those applications, and
• 10:56
  Speaker 2: we see so much demand, especially from this kind of uers,
• 11:00
  Speaker 2: to be on many different chains. Now, if you're an
• 11:04
  Speaker 2: RWA issuer, your choice is twofold right. One is you
• 11:07
  Speaker 2: can go and natively deploy on many different chains, and
• 11:11
  Speaker 2: the other is you can use a product like acceller
• 11:13
  Speaker 2: to one click deploy on ten twenty thirty different chains, right,
• 11:17
  Speaker 2: And this is great for the industry because you can
• 11:20
  Speaker 2: have your engineer's folks and your core product not have
• 11:23
  Speaker 2: to worry about spending engineering cycles to redeploy on many
• 11:27
  Speaker 2: different chains and just allow.
• 11:29
  Speaker 5: The space to move forward much faster and everyone.
• 11:32
  Speaker 2: To innovate on what that expert is is not just
• 11:35
  Speaker 2: redeploy on the same gode on ten or twenty different chains.
• 11:38
  Speaker 1: Well, we've seen a lot of total value really kind
• 11:41
  Speaker 1: of growing over time here, and you would think that
• 11:44
  Speaker 1: we would see a consistent amount of new developers. First
• 11:48
  Speaker 1: of all, what is your awareness around in terms of
• 11:52
  Speaker 1: developers coming into the ecosystem. I'm sure you guys have
• 11:55
  Speaker 1: a lot more access than even we know of what's
• 11:58
  Speaker 1: happening out there. What is it look like for twenty
• 12:01
  Speaker 1: twenty five or is there just an onslought of new
• 12:03
  Speaker 1: devs coming in? Are you what are your thoughts there?
• 12:06
  Speaker 2: Yeah, the number one use case that we get demand
• 12:08
  Speaker 2: for is as an organization across many many chains. We
• 12:13
  Speaker 2: see this even with mime coins or some of the
• 12:15
  Speaker 2: AI coins. They want to be on multiple chains, and
• 12:18
  Speaker 2: we spend the vast majority of twenty twenty four developing
• 12:23
  Speaker 2: what we call the Mobius Developer stack on top of Axler,
• 12:27
  Speaker 2: which is a technology stack for building connections to new vms,
• 12:32
  Speaker 2: and on top of that you can have the interstain
• 12:35
  Speaker 2: token service through which a developer can deploy it token
• 12:38
  Speaker 2: on many different vms. So the intertin Toalken service today
• 12:42
  Speaker 2: is only live for EVM chains, but soon it's going
• 12:45
  Speaker 2: to be live for Solana, for XRPL, for Sui, for
• 12:50
  Speaker 2: ton all of those non EVM chains where frankly, the
• 12:54
  Speaker 2: vast majority of developers don't have the technical expertise to
• 12:58
  Speaker 2: write code.
• 12:58
  Speaker 5: Because most developers, maybe they.
• 13:00
  Speaker 2: Know how to write colde on XRPL, if they want
• 13:02
  Speaker 2: to redeploy their talken on Solana, they probably don't know
• 13:05
  Speaker 2: how to write on the Solana VM or on the
• 13:07
  Speaker 2: EVM right, and this is really the core customer of
• 13:10
  Speaker 2: this product. If you don't have technical expertise to loans
• 13:14
  Speaker 2: on five different vms and like them twenty different chains,
• 13:17
  Speaker 2: and frankly you have no reason too. You can do
• 13:19
  Speaker 2: it with one click deployment through this front end. And
• 13:22
  Speaker 2: for twenty twenty five, we want to expand this product
• 13:25
  Speaker 2: to all of the big chains, starting with xrpl, Suis, Solana,
• 13:30
  Speaker 2: and many more in the pipeline.
• 13:32
  Speaker 1: So okay, so easy of use. I think this is
• 13:34
  Speaker 1: going to get back to your point, which is going
• 13:35
  Speaker 1: to be making it much easier for the developers to
• 13:38
  Speaker 1: kind of go into the cross chain capabilities. There, Jazz,
• 13:42
  Speaker 1: when you look at the potential of what this means
• 13:46
  Speaker 1: not only axel are what they're doing, but also the
• 13:48
  Speaker 1: ecosystem of devs and new projects coming in so quickly,
• 13:54
  Speaker 1: how quickly do you think this is going to impact
• 13:57
  Speaker 1: kind of the not only the stable coin side of things,
• 14:00
  Speaker 1: but also I think just the ecosystem in general. Do
• 14:02
  Speaker 1: you think everybody was kind of waiting for the stable
• 14:04
  Speaker 1: coin to drop and now it's like everybody putting the
• 14:08
  Speaker 1: hammer down. What's your thoughts there, Yeah, no, it's a
• 14:11
  Speaker 1: good question.
• 14:12
  Speaker 3: I guess zooming out a little bit.
• 14:13
  Speaker 4: I mean, I mean blockchain and crypto has matured a
• 14:16
  Speaker 4: lot in the last ten even the last five five years,
• 14:19
  Speaker 4: and I actually think this year, at back half.
• 14:22
  Speaker 3: Of twenty twenty four, moving into twenty twenty five, I think.
• 14:24
  Speaker 4: We're at a really critical turning point where we're no
• 14:27
  Speaker 4: longer only targeting the limited pool of devs that are
• 14:31
  Speaker 4: early adopters that are very technologically sophisticated and just want
• 14:36
  Speaker 4: to tinker and see what they can build. I think
• 14:37
  Speaker 4: we're moving out of that phase into Okay, how can
• 14:41
  Speaker 4: I bring blockchain rails to existing businesses, to FinTechs, to banks,
• 14:46
  Speaker 4: to financial institutions, to large technology companies, And I think
• 14:50
  Speaker 4: once you can make it very clear to them, here
• 14:53
  Speaker 4: are the advantages of blockchain technology. You're going to increase transparency,
• 14:56
  Speaker 4: lower costs, increase efficiency, brought an adoption, and you take
• 15:01
  Speaker 4: that value proposition and combine it with better developer tooling,
• 15:06
  Speaker 4: better better developer experience like your has just showed us.
• 15:09
  Speaker 4: That's when you're really going to see the industry take
• 15:12
  Speaker 4: off and you're going to see a huge amount of
• 15:13
  Speaker 4: mainstream adoption. So that's what I'm particularly excited about in
• 15:18
  Speaker 4: twenty twenty five.
• 15:19
  Speaker 1: Anything that you feel that needs to happen for that
• 15:21
  Speaker 1: to kind of, I guess, create a launchpad going forward.
• 15:24
  Speaker 4: Yeah, I mean, unwswalk is big there, the behemoth in
• 15:27
  Speaker 4: the space, no doubt.
• 15:28
  Speaker 3: But if you compare that to.
• 15:30
  Speaker 4: The size of traditional finance payments or traditional finance trading
• 15:35
  Speaker 4: is it is minuscule. And so I think the next
• 15:38
  Speaker 4: big phase is going to be how can you create
• 15:40
  Speaker 4: a developer experience, the right tooling and value proposition to
• 15:45
  Speaker 4: actually reach these massive traditional financial markets. And I think
• 15:48
  Speaker 4: that that'll be the next big phase. And if you
• 15:50
  Speaker 4: look at you know, the way Stripe tackle payments right like,
• 15:55
  Speaker 4: they make a barrier to adding payments to your e
• 15:58
  Speaker 4: commerce site so simple, and I think that's something we
• 16:02
  Speaker 4: really need to improve upon the watching space is stop
• 16:05
  Speaker 4: using such complex terminology, such complex you know, low level
• 16:10
  Speaker 4: developer tooling and really just up level it, simplify it.
• 16:13
  Speaker 3: And make it clear. You know, if you use these
• 16:15
  Speaker 3: trading rails.
• 16:16
  Speaker 4: As opposed to traditional financial trading rails, here the benefit
• 16:19
  Speaker 4: of your business will get and here are the five
• 16:22
  Speaker 4: steps that you take to get started.
• 16:24
  Speaker 3: So that's what we're focused on now.
• 16:26
  Speaker 1: Yeah, So I like that what you just said, because that,
• 16:29
  Speaker 1: to me is one of the critical components of next
• 16:33
  Speaker 1: generation adoption that we're going to see. Whether it especially
• 16:36
  Speaker 1: with stable coin regulation most likely coming out very soon,
• 16:40
  Speaker 1: we'll most likely see a lot more banks and financial
• 16:43
  Speaker 1: institutions starting to roll out. We'll talk about that a
• 16:45
  Speaker 1: little bit more, But I do agree with you in
• 16:47
  Speaker 1: terms of the adoption, but also to your point you
• 16:51
  Speaker 1: to swap is very minuscule compared to the traditional financial system,
• 16:55
  Speaker 1: which obviously XRPL has a lot more connectivity there. So
• 17:00
  Speaker 1: I would agree that's going to be a big one.
• 17:02
  Speaker 1: I want to jump back to you, georgios On because
• 17:04
  Speaker 1: I'm going to go over to your Mobius development stack,
• 17:07
  Speaker 1: and this was the miles some of the milestones that
• 17:09
  Speaker 1: you guys had placed here. One of the things that
• 17:11
  Speaker 1: we're interested is the upcoming ones that are coming in
• 17:14
  Speaker 1: terms of integrations. The ones we're really interested in is
• 17:17
  Speaker 1: Solana and Flow. What's the likelihood of those happening soon?
• 17:22
  Speaker 1: Any kind of timeframe you can give us?
• 17:24
  Speaker 2: Yeah, generally, market then won't be very happy if I
• 17:26
  Speaker 2: give timelines.
• 17:28
  Speaker 1: Come on.
• 17:30
  Speaker 5: Security, so we have to wait for audits to be final.
• 17:33
  Speaker 5: But you know, we can say it's fairly.
• 17:34
  Speaker 1: Soon, fairly soon, Okay, Well I like fairly soon. That's
• 17:38
  Speaker 1: a good. That's a good, that's a good time like
• 17:41
  Speaker 1: going forward.
• 17:41
  Speaker 2: So definitely, just to give you a sense right of
• 17:44
  Speaker 2: like the complexity of these implementations. We started building Accelerator
• 17:49
  Speaker 2: almost five years ago, four and a half years ago
• 17:52
  Speaker 2: at this point, and it's been live for three years.
• 17:57
  Speaker 2: And when we're starting out, we would see all of
• 17:59
  Speaker 2: the different bridging products in the space that would cast
• 18:03
  Speaker 2: out the like hundreds of millions and I think in
• 18:05
  Speaker 2: some cases billions of dollars, and they would all claim
• 18:07
  Speaker 2: they're decentralized and look at the teams.
• 18:10
  Speaker 5: You would look at their githubs. There was no code.
• 18:12
  Speaker 2: It was fully closed source, like some of them even
• 18:15
  Speaker 2: had some fake dashboards that showed the bands of like
• 18:17
  Speaker 2: validator notes, but there was nothing. It was pretty clear
• 18:22
  Speaker 2: to us as technical people that they were all claiming
• 18:25
  Speaker 2: to be decentralized. Usually the founder had a key in
• 18:28
  Speaker 2: their back pocket in some lesser and when inevitably many
• 18:32
  Speaker 2: of those got hacked, billions of dollars were lost, right
• 18:35
  Speaker 2: like in twenty twenty two, I think more than a
• 18:37
  Speaker 2: billion dollars just in a single year got lost in
• 18:41
  Speaker 2: cross chain hacks. And then for more than a year,
• 18:43
  Speaker 2: people were scared to even touch interoperability technology. So with acceller,
• 18:49
  Speaker 2: we were the first interoperability platform to take a fundamentally
• 18:52
  Speaker 2: different approach. And instead of having a custodial holding the
• 18:55
  Speaker 2: keys for the crosschaane communication, we decided to use a
• 18:59
  Speaker 2: blue created the centralized valve dator set of seventy five
• 19:03
  Speaker 2: validators a day, growing small datas have to collectively approve
• 19:08
  Speaker 2: cross chain transactions, and to this day actually is the
• 19:10
  Speaker 2: only the centralized platform on the market with this property
• 19:14
  Speaker 2: is almost everything else is fully custodial, and that's why
• 19:17
  Speaker 2: some of these integrations take longer, right, like thee working
• 19:22
  Speaker 2: on for quite some time. But just to add to
• 19:24
  Speaker 2: Just's point, it was always clear to us that this
• 19:27
  Speaker 2: will take a while to launch.
• 19:28
  Speaker 5: But the space is still very small, right, and.
• 19:31
  Speaker 2: The XRPL and everypole in particular, which is a core contributor,
• 19:34
  Speaker 2: like in the ecosystem, they have all the trad FI connections,
• 19:38
  Speaker 2: they're very strong to go to market, and we'll be
• 19:40
  Speaker 2: able to take all of the VM innovations and just
• 19:44
  Speaker 2: get them widely adopted both.
• 19:46
  Speaker 5: In trad five and just the wider world. Right.
• 19:49
  Speaker 2: So that's why I'm also very excited because these innovations, yeah,
• 19:53
  Speaker 2: like units over grade, but we need to on board
• 19:56
  Speaker 2: billions of people in the space, and I believe that
• 20:00
  Speaker 2: the XRPL EVM chain, by augmenting those innovations, is going
• 20:04
  Speaker 2: to be a lot more users and being at positive
• 20:06
  Speaker 2: for busts well.
• 20:08
  Speaker 1: I think you guys hit it is that if you
• 20:10
  Speaker 1: look at the amount of development cycle that happened three
• 20:14
  Speaker 1: four years ago versus what we've seen just in the
• 20:16
  Speaker 1: last six months for a lot of chains as well
• 20:19
  Speaker 1: as not only XRPL, But it seems like it has
• 20:23
  Speaker 1: really come to a head over the past really half
• 20:27
  Speaker 1: a year or so that has primed almost the timing
• 20:31
  Speaker 1: perfectly with what's happening in the market and what's happening
• 20:34
  Speaker 1: in terms of development rollouts. So all that is good news,
• 20:38
  Speaker 1: I think for everybody because that's going to help kind
• 20:39
  Speaker 1: of create these launch pads going forward, especially going into
• 20:42
  Speaker 1: the major financial sectors. Speaking of that, Georgio, so I
• 20:46
  Speaker 1: want to talk. I'm over on your website and I'm
• 20:48
  Speaker 1: looking at your some of your partners You got Deutsche
• 20:51
  Speaker 1: Bank right there, JP Morgan obviously that's the Onyx platform.
• 20:55
  Speaker 1: Talk to me a little bit about that partnership. What
• 20:57
  Speaker 1: does it look like, what's the goal for it, where
• 21:00
  Speaker 1: is this going to take kind of the platform or
• 21:03
  Speaker 1: what you guys are doing.
• 21:04
  Speaker 2: Institutions are launching their own chains right and we've seen
• 21:09
  Speaker 2: some institutions like black Rock orgnizing on public chains, but
• 21:14
  Speaker 2: a lot of the banks want to own their stack
• 21:18
  Speaker 2: because there's a lot of private information in their infrastructure,
• 21:21
  Speaker 2: so they.
• 21:22
  Speaker 5: Can directly go on a public chain.
• 21:25
  Speaker 2: What we saw with Doister Bank very recently they announced
• 21:28
  Speaker 2: a layer two using desic cases stack on top of Ethereum.
• 21:33
  Speaker 2: There's going to be a lot more financial institutions that
• 21:36
  Speaker 2: are going to be launching their own chains, and interoperability
• 21:39
  Speaker 2: is very important in that future because if you launch
• 21:43
  Speaker 2: your own chain and you don't have a way to
• 21:44
  Speaker 2: communicate with public chains and other private chains of other
• 21:48
  Speaker 2: financial institutions, you are siloed. Then you cannot even do
• 21:53
  Speaker 2: cross border transactions across those letters.
• 21:57
  Speaker 5: Right then.
• 21:57
  Speaker 2: This is where acceler comes in. We're providing a lution
• 22:00
  Speaker 2: for institutions where you can customize your connection to the
• 22:04
  Speaker 2: Acceller network. You can own completely internally, like the permissions
• 22:09
  Speaker 2: of what information goes back and forth, so you can
• 22:11
  Speaker 2: maintain access, controls and privacy of your network, and through
• 22:16
  Speaker 2: the Acceller chain, you can send information to any other
• 22:19
  Speaker 2: chain that is connected to the Acceller network, so that
• 22:23
  Speaker 2: all of Acceller there is connected these institutional chains to accelert.
• 22:26
  Speaker 2: It's a work you do once you create a single
• 22:28
  Speaker 2: connection and then through the acceller network you can forward assets.
• 22:32
  Speaker 2: You can forward information to any other public or private
• 22:35
  Speaker 2: blocks in that is connected in the acceler ecosystem.
• 22:38
  Speaker 1: If you look at the global market overview in general,
• 22:41
  Speaker 1: total RBA on chain right now about fifteen point two billion.
• 22:45
  Speaker 1: And then if you look at some of the networks there,
• 22:48
  Speaker 1: you can kind of see the networks lined up there.
• 22:50
  Speaker 1: How long before we would see potentially an XRPL on there.
• 22:54
  Speaker 3: So there are real.
• 22:55
  Speaker 4: World assets on xp ledger today, unfortunately are RWA dot
• 23:00
  Speaker 4: x y z is a really great platform.
• 23:02
  Speaker 3: I love it.
• 23:02
  Speaker 4: I think they do a great job displaying the space.
• 23:05
  Speaker 4: But I believe it is partnership based. So there are
• 23:09
  Speaker 4: real assets on extorp Ledger. We're working on a partnership
• 23:12
  Speaker 4: with them so that we can expose that value on
• 23:15
  Speaker 4: OURWA dot x y Z.
• 23:17
  Speaker 1: Let's get into just kind of the last question I
• 23:20
  Speaker 1: want to hit on, and that is priorities for twenty
• 23:22
  Speaker 1: twenty five with XRPL. Jazz, I'll stay with you. What
• 23:26
  Speaker 1: are some of the next big steps for the DeFi ecosystem.
• 23:29
  Speaker 1: I know you're working a lot on that that you
• 23:31
  Speaker 1: can share with us.
• 23:32
  Speaker 3: Yeah, yeah, definitely, I'm super excited for turning township.
• 23:36
  Speaker 4: I have a couple big things that we have on
• 23:38
  Speaker 4: our product roadmap Undraplex are the MPT token, which is
• 23:43
  Speaker 4: a new token standard that is purpose built to support
• 23:47
  Speaker 4: real world assets. So we've proposed that as an amendment
• 23:50
  Speaker 4: to the Export Ledger. We're waiting for the validator community
• 23:52
  Speaker 4: to decide whether or not they want to adopt that,
• 23:55
  Speaker 4: but we believe that that's a really strong foundation for
• 23:57
  Speaker 4: tokenizing real world assets from there.
• 24:01
  Speaker 3: You know, I think, uh, while tokenization is a.
• 24:04
  Speaker 4: Huge tailwind in the industry, eventually, you know, tokenizers are
• 24:08
  Speaker 4: going to wonder, Okay, what do I do with it
• 24:10
  Speaker 4: now that it's on chain? How can I extract value
• 24:13
  Speaker 4: for myself for my users? And that's where defect protocols
• 24:16
  Speaker 4: come in. So two that we're especially.
• 24:18
  Speaker 3: Excited about our permission decks.
• 24:22
  Speaker 1: Uh.
• 24:22
  Speaker 4: So that will power ripple payments initially, uh and then
• 24:25
  Speaker 4: hopefully other uh you know, institutional trading use cases thereafter.
• 24:30
  Speaker 4: And that basically allows for on chain, decentralized trading in
• 24:34
  Speaker 4: a permissioned environment, but built in a way such that
• 24:38
  Speaker 4: there can be arbitrage with the open markets and really
• 24:42
  Speaker 4: you know, liquidity maximized in that regard, so perfect kind
• 24:46
  Speaker 4: of rails for institutional trading UH to be brought on chain.
• 24:50
  Speaker 1: UH.
• 24:50
  Speaker 4: The second one I'm especially excited about is is lending
• 24:54
  Speaker 4: on XORPO main net will originally start with collateralize credit
• 24:59
  Speaker 4: origination or apologies uncollateralized credit regenation with off chain underwriting,
• 25:04
  Speaker 4: and then from there start to bring collateral on chain
• 25:07
  Speaker 4: as well towards the end of twenty twenty five.
• 25:09
  Speaker 3: So that really rounds out.
• 25:10
  Speaker 4: Our focus from a ripple perspective on exerpl which is
• 25:14
  Speaker 4: three use cases in particular payments, trading, and then lending
• 25:18
  Speaker 4: again targeting those existing FinTechs and financial institutions.
• 25:22
  Speaker 1: All right, so that's you've got a big You've got
• 25:25
  Speaker 1: a big list there of stuff to get done. So
• 25:28
  Speaker 1: kudos on you, Georgios. How about you when you look
• 25:31
  Speaker 1: at none of what you guys are doing, I'm thinking
• 25:34
  Speaker 1: cross chain a little bit here at least what we've
• 25:37
  Speaker 1: seen in the markets a lot of demand obviously with
• 25:40
  Speaker 1: you know, some of the key key chains there, but
• 25:42
  Speaker 1: even now what we're starting to see is things like
• 25:45
  Speaker 1: AI agents that could be going into a request for
• 25:48
  Speaker 1: cross chain. Any kind of future there with Axelar with Acceller.
• 25:52
  Speaker 2: First of all, our priority for the next year is caveats.
• 25:56
  Speaker 2: Interoperability is a business of caveats. You won't have as
• 25:59
  Speaker 2: many tains possible. A simple analogy is that if you
• 26:02
  Speaker 2: think of Web two, we have a lot of personal
• 26:05
  Speaker 2: computers and the Internet has to connect with all of them. Right,
• 26:08
  Speaker 2: the Internet is not helpful if we can connect to
• 26:10
  Speaker 2: one third of the world and then you have another
• 26:12
  Speaker 2: one third. And interoperability is the Internet technology for blockchains,
• 26:18
  Speaker 2: and you need to have the wide discoverers. So in
• 26:20
  Speaker 2: twenty twenty four we build the mobile stack, which is
• 26:23
  Speaker 2: the infrastructure that will allow acceler to scale rapidly. And
• 26:27
  Speaker 2: twenty twenty five is the year we scale, starting with
• 26:31
  Speaker 2: XRPL and Sui, and we're going to be moving very
• 26:34
  Speaker 2: very fast once those two chains go live. To the
• 26:40
  Speaker 2: question about AI agents, one complaint we get in general
• 26:45
  Speaker 2: about interoperability is that, well, you cannot have too many chains,
• 26:48
  Speaker 2: because how do you navigate all those chains. It's very
• 26:51
  Speaker 2: very complex from users. The answer is that all of
• 26:54
  Speaker 2: that is going to be abstracted away. AI is going
• 26:57
  Speaker 2: to be massively helpful there because imagine if future where
• 27:00
  Speaker 2: your AI agent will You'll tell you'll probe something and
• 27:04
  Speaker 2: they're gonna be able to take an.
• 27:06
  Speaker 5: Action on your behalf, right, Like let's say go to
• 27:09
  Speaker 5: a lending.
• 27:09
  Speaker 2: Market or find out the best lending protocol that gives
• 27:13
  Speaker 2: me the best trade, and go trade on that, right,
• 27:16
  Speaker 2: and then under the hood, it's going to identify the chain, right,
• 27:19
  Speaker 2: maybe it's an extrapl it's gonna transfer over the funds
• 27:23
  Speaker 2: through Waxlert, and it's gonna take an action on behalf
• 27:26
  Speaker 2: of the user.
• 27:27
  Speaker 5: So if anything else, I.
• 27:29
  Speaker 2: Do expect that AI is going to be the biggest
• 27:32
  Speaker 2: user of interpretabil technology in the future, just because it
• 27:36
  Speaker 2: simplifies user experience so much and people won't have to
• 27:39
  Speaker 2: think about bridging at all one or two years down
• 27:42
  Speaker 2: the line.
• 27:43
  Speaker 1: Well, that'd be nice. That'll be a huge achievement I
• 27:46
  Speaker 1: think in blockchain in general. Giorgio's and Jazz has been
• 27:50
  Speaker 1: great having you on the show. Thank you so much
• 27:52
  Speaker 1: for your time today. We appreciate you guys stopping in.
• 27:55
  Speaker 5: Thank you, Screachy Bed, thank you so much and having
• 27:58
  Speaker 5: your here.
• 27:59
  Speaker 1: All right, So you guys, if you're watching in right now,
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• 28:19
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