Tai Zen: My name is Tai Zen. And welcome you guys to the Crypto in Frisco. This is the first big blockchain event that we have in the city of Frisco. So thanks for everyone to come down.
How many of you guys heard about this event from our channel or from Twitter? Can you guys raise your hand? Okay. Have you guys heard it from another Cryptocurrency project that’s going to be here? Like Gladius, like PROPS project.
So welcome everyone to the Crypto in Frisco. We have a bunch of Crypto projects in their teams here today that’s going to be talking about their projects and sharing with them how they’re going to use it in business. So let’s get started guys.
Obviously we have some disclosure statements here. This is not a trading or investing conference. This is just for educational purposes only. So there’s another disclosure statement that our lawyers want us to have up here and just understand guys, basically what it’s saying is that whatever we talk about, just safe to assume that we invest in the projects that we talk about.
Full disclosure. So if we talk about it, there’s probably going to be a conflict of interest. Some quick house rules, guys. This is a blockchain for a business conference and not a trading and investing conference. So do not ask any speaker here to buy, sell, or hold advice.
We are not licensed, financial advisors. Somebody is going to do that during this conference. And if you do want to grab you and just shake you vigorously. I just warn you guys, I’ll ask any of us to provide sell or hold questions.
Do not send any Bitcoin or Cryptocurrencies to anyone here, including my staff or anyone. If anyone tells you that, “Hey, send me some Bitcoins. You know, we need to charge you for registration or we need to test some wallets out away.” Do not send anybody any Bitcoins or Cryptocurrencies. No one should be asking you that.
Do not show your Cryptocurrency wallet to anyone here. Do not anyone ask anyone here to help you with any Cryptocurrency. I’m gonna step off here. I don’t know why it’s squeaking. Do not ask anyone here to help you with your Cryptocurrency wallet either. This is not the place for that.
Today we’re going to talk about how to use the Cryptocurrencies and the blockchain technology in your business. So real quick, when I go to a place, I always want to know who is that up there speaking? Some of you guys have followers for many years on our channel, on YouTube. That’s great.
But for the people that are new to this, I just want to share with you guys who I am and who we are and why you should listen to us. I have 5 reasons, I got listed for up there. One of these days we’ll have a real Asian that knows math and science up here. So here it is.
The first, we started the first and oldest Cryptocurrency investing channels on YouTube and on the internet that we know of. We got like 25,000 subs. So my first video was right here: What is a Bitcoin compared to a fiat currency?
And we started that back in, I think 2013, and at the same time I also wanted to send a shout out and thanks to a Saint Clair, he raised your hands and Clair back there. So Saint Clair was that you, many of you guys know on my channel I talk about working at an energy brokerage firm.
They were sending up a Bitcoin mining rig and a mining farm there. And that’s how I learned about Bitcoin and that’s how I got into it back in 2012. Well, that was the energy brokerage firm that I was working at for Saint Clair back then. They were mining Bitcoin back then. If you guys have any questions about energy, he’s the one to talk to. Or mining.
Reason number 2, we made multiple profitable and documented calls on our Twitter. We’re not one of those channels that just talk about trading. We actually put our money on the line and everything we talk about and we document everything we talk about here.
In this call right here, we had like an 882% growth in the call, made there, my business partner and cohost Leon – The Honorable Grandmaster, Legendary world-renowned LeonFu Dot Com. By the way, he’s not here today because his first daughter is being born today or last night or later today, it’s sometime today. And I tried to drag him up here, but he just refuses to come.
And I think that Bitcoin is more important, but he didn’t think so. We made a good call – Monero. If you guys follow a channel or a website or Twitter, we got a ton of documented calls for the last 4,5 or 5 years.
The reason number 3 is people think Tai Zen is the most respectful man Crypto according to Adam Meister – the BitcoinMeister, and to Omar. I don’t know why he’s saying I’m great while he’s in bed. And then people trust us to alert them about scam coins. Back on May 17th, 2016, we were telling people that one coin is a scam.
And then it took like five months later or something before the financial conduct authority in Europe started telling everybody to be aware of one coin. I’m glad that’ll make a living off of making good thumbnails for YouTube cause that is a mug there.
The reason number 5, I was voted the top 13 and the top 100 most influential people in Crypto. That’s me right there on the top 100 list and there’s me over there on the top 13 list. So enough about me. And that’s the reason why you should pay attention to what I have to say up here.
For the people that already know what Bitcoin and blockchains are, that’s awesome, but in case you’re new here, to the blockchain world. This is just a quick explanation of what Bitcoin is and what a blockchain is.
A Bitcoin, the best way to look at it is to see how it was before and then how it is now. The way that it was before, by the way, I want to give credit to Robert Palatnick. He’s the CTO or the chief technology architect at the largest Clearing House in America. They clear all the stocks and everything at DTCC.
So I borrowed his slide here because he has the best explanation here of what a Bitcoin or a blockchain is. The way that everything is set up right now is, the way that financial transactions are set up right now is that all the transactions are localized and it’s centralized in one place.
It likes in the first picture right here, where all the computers and all the users like us have to come to this one central location to get that data or that financial data. And then what happens is that when you decentralize something, now you have these different nodes that work together. But each one of these nodes is still controlled by one individual or one party.
And the way that the Bitcoin and the blockchain technology works are that now it distributes it out across, so now everybody has a copy of those financial transactions. And those financial transactions are usually kept on a Ledger, at the bank or at the stock market or whatever financial institution that the Ledger is kept in. A Ledger is nothing but a record of accounting statements or financial transactions from account A to account B to account C and so on.
What is making Bitcoin unique? There are several reasons why the way that it’s distributed now makes it so unique. I’ll go that in a minute. Before we go very farther, I want you guys to know that on our channel, we break up Cryptocurrencies into what we call buckets.
Last I checked, there were like 1500 Cryptocurrencies out there. And what’s interesting is that on the coin market cap, it’ll say that there are like 1500 Cryptocurrencies out on the market. But I listened to a talk, I think his name is Changpeng Zhao or something like that, the CEO and founder of Binance, and he says that even though there are 1500 Cryptocurrencies listed on there, they get requests to list like 5,000 Cryptocurrencies on their exchange.
So obviously there are more Cryptocurrencies out there than what’s listed on coin market cap. I’ll just go with the number that’s on listed on coin market cap for now, which is like around 1500. So in the world of Cryptocurrencies, out of 1500 Cryptocurrencies, what we do is we divide those Cryptocurrencies up into buckets.
The reason why we got this term bucket was I would talk to Leon Fu Dot Com and every time he tells me about a new Cryptocurrency, I would always ask him, “Hey, what bucket does that fall in?” And then he would tell me what bucket that he puts it in. And that’s how I started to learn about what the differences between the Cryptocurrencies are.
So you have the currency bucket, which is like Bitcoin, Litecoin, Dogecoin, Tether. I don’t make any financial recommendations here, but none of us on our team uses Tether cause we don’t feel it’s safe. That’s not a financial recommendation. It’s just that none of us use it. And then on our clients we what do you call that? Dissuade our clients from using that because we don’t feel it’s safe.
Then we have the distributed computing bucket, like Filecoin, MaidSafe, SiO, and the Gladius, I just added this, I downloaded it and I thought it was a PNG file. I stuck it on here and then it just covered everything else up. And I didn’t want to look biased that I was only talking about Gladius so I had to put it on the side right there.
But well we’re fortunate to have the Gladius team here and they are going to be sharing some of the stuff that they’re doing. And when you guys listened to them carefully, they’re the youngest crowd, a team that we have here today. They’re 19 – 20 years old.
They remind me of Vitalik when we first interviewed him for the Ethereum project back in 2014. Many of you guys may not know this, but we were the first channel to interview Vitalik Buterin and recommend people to consider looking at that project, investing in him in his project back in 2014.
Back then everybody thought we were crazy, we were nuts for talking about a pre-mined coin cause back then you had to do the proof of work and mine like Saint Clair and his energy brokerage form we’re doing to get Bitcoins.
Back then they were like one of the first projects to just mine all the coins all at once and just release it to the public. And everybody thought we were nuts for talking about Ethereum back then. And now when people look at as they call us legends and OGs of Crypto.
So in just a few years, you can go from being a nut case, a crazy man on YouTube to being a legend. So it doesn’t take very long to become a legend in Crypto. That’s the lesson there. These are all different projects.
One of the things that they do in common is that they rent out extra computer space. So if you have your extra computer space at home that you’re not using the old computer, you can rent it out into these projects. And the Gladius team are here today and they’ll explain to you more about that. They’re the experts on that, not me. So I’ll let them explain it.
Then we have the privacy coins here. We have ZCash, we have NAVcoin, Pivx, Komodo and Particl. The Bitcoin Private, if you guys can see, it is too big to fit on here. So I had to put it over here on the side. It’s one of the biggest projects coming up. We’re a huge part.
Our team is a huge part in educating the public about Bitcoin Private. So there’s probably huge bias and huge, what do you call it? Conflict of interest. Huge. What do you call it when you attach to something? Attached. Thanks, Eric.
So just be aware of that guys, cause I don’t want you guys to think that you know we’re not disclosing anything or something. So like I said, we invest in any project that we talk about on our team. I’m not going to go too deep into the privacy coins because we have Jake here. Raise your hand back there, Jake, real quick.
You guys know he’s the operations lead for the Bitcoin Private community. He’s what I call the big dog. We have Crypto Dog here in the red cap over here, but he’s not the big dog like Jake is back there. So he could be right, and there are other buckets in March.
We have hired Kirk, can you raise your hand, Kirk? So he’s from Touch Titans, he’s the CEO and founder of Touch Titans here in Dallas. They are a company that builds the mobile app for National Geographic, for Red Bull and for some of the hospitals around here. And then there are other ones that you can go to touch titans.com and see it.
They’re building the indexes and these tools for us. I’m just going to put them on the spot and pressure him to make sure he gets it done on time by March as he said. Once we release it, those indexes, we’ll have these bucket indexes for you guys, so you guys can go to our site, access it, and you’ll see which one we put into which bucket.
So you don’t have to figure it out. One of the keys to success in blockchains is that you never try to figure it out on your own. Let somebody else go spend the money, the time and lose their butt off and then go figure out what they did wrong and then learn from them.
That’s my philosophy, success leaves clues and you want to follow the people that screwed up the most, lost the most money, lost the most time because they already figured out what doesn’t work and then you follow them. That’s my policy and we have screwed up a lot. Take a good look at me. I’m not one of those guys. That’s perfect. I screw up a lot.
We are here to talk about how to use the blockchains in business. And there are several reasons why you would use the blockchain technology in business. There’s a bunch of people that talk about using it in business and sometimes you look at them and you think like, what the hell are they talking about?
Like who cares? There’s like 1500 Cryptos out there and some of them I look at and it takes like 30 seconds to figure out that this is garbage. So this one right here, the number one, and there’s no particular order. I had to list it somehow to talk about it.
But the first reason is to eliminate the need for a middleman. If I need to make a financial transaction with someone, if I need to send it to Crypto Dog over there, $10 USD right now, I have to send it to my Chase Bank. And then what bank do you use, Crypto Dog? Okay.
I have to send it to a Chase Bank. Chase Bank notifies Capital One 360 that “Hey, you’re about to receive a transaction from Tai. His bank approves it”. They work each other out, and then they agreed to it and then now I send the $10 USD to him. My bank takes a small fee, throughout the month, throughout the year.
His bank does the same thing. So there are two middlemen in between me giving him money. Now, if I just hand him a $10 USD bill, there’s no middleman in between. That’s what Bitcoin and blockchain technologies have allowed us to do is eliminate the need for those two.
I can’t pesky middleman because they didn’t do anything. All they did was, “okay, give me the $10 USD, right here, Capital One, take the $10 USD” and then Capital One, “Here you go, Shawn” or “Crypto Dog. Here’s the $10 USD.”
So to me, I don’t see any value in that and why right now in the world we can transfer value, whether it’s my car, my phone, my remote control, this microphone, anything. If I want to give it to some edge, just give it directly to that person.
I don’t need a middleman in between to give a product or service to another human being. But when it comes to money, I guess what they call the man, the guy that’s got this foot on the back of our necks. He likes to get in between everyone’s financial transactions. So one thing that the blockchain technology has allowed is to eliminate the need for that middleman.
The second reason why businesses would use blockchains is that it’s permissionless. Most businesses that you are involved with, they require some type of permission to use their products, their service or their technology.
If you want to go, you use YouTube where we broadcast, you have to go and register, you have to go and fill out the forms, put your name in there, your phone number, your emails, and all this other stuff and give your personal data to them before they give you permission to use it.
If you want to send money to someone in another country, you have to ask permission from your bank and your government and everything to send it. If you want to send more than $10,000 USD to anyone in the world, you have to get permission from the bank, the government, let them know before you send it.
When I first got into Bitcoins back in 2012 – 2013, around that time, I remember seeing a $150 million transactions go through the Bitcoin network and I couldn’t believe it because it only costs like 5 cents to send that.
And it was like a huge deal. You can Google it, a $150 million transaction sent to the Bitcoin network. And at that time it blew my mind that only costs 5 cents. And here I was at that time paying $25 USD for a wire transaction at the bank. So at that time, there were other reasons too, but I just put my life savings into Bitcoin at that time.
So with the blockchain technology, I keep using the term blockchain technology and not Bitcoin because Bitcoin is not doing what it’s supposed to be doing until they fix the problems with the transaction and the speed and the fees and everything.
That’s why I keep using the term blockchain. You guys are wondering why I’m not using the term Bitcoin that much. It’s because I can’t use something that is not working the way it’s supposed to. Until the engineers figure it out, I’m just going to use the term blockchain for now.
The third reason is that it’s censorship-resistant. I originally come from Vietnam. When I used to coach traders in the stocks, futures and Forex market, I used to talk to a lot of Forex brokers from New York and from Dallas. FXCM is a huge Forex broker that’s in Dallas here. And they also have headquarters in New York.
There are other Forex brokers that I used to deal with and trade through. And I would always ask him, “how come you guys don’t have offices or accept customers from Vietnam?” Cause I was getting a lot of Vietnamese people contacted me like, “Hey, how come none of these places are doing business there?”
And the reason why is because, in Vietnam, the government has very strict capital controls in that what that simply means it’s a fancy term that just means that they get to control where your money goes. So if people in Vietnam want to send money to a Forex broker or a stockbroker, they can’t do that without government permission.
And guess what? The government there is going to say no. So you gotta be very, very wealthy over there to get passed all that, to be able to do that. One of the things that the government is able to do in Vietnam is that they’re able to censor where you can send you your money. And that’s a huge thing.
If you’re operating a business where you don’t want censorship, somebody’s censoring your customers or interacting with your customers, you might consider using blockchains, as long as it’s followed within the laws of your country. So don’t break any laws trying to be censorship-resistant.
The fourth reason to use a blockchain is for clearing and settlement. Now, many of you guys have followed me on my channel and if you guys been following me for any amount of time, you guys know that I put all my lives, nearly all my life savings into Bitcoin back in 2012 – 2013.
Now, back then, this was the reason why I got into it. So I was trading stocks for many years already. And many of you guys may or may not know if you buy or sell, let’s say some Apple stocks and you made $100 USD profit.
It typically takes about two weeks from the time that you sell it and you make a profit on those Apple stocks to the time that it’s actually in your bank account and you can actually use it to buy something. That length of time is called clearing and settlement. That means that, let’s say that I’m going to use Crypto Dog over there as an example again, cause he happens to be at the front.
Let’s just say that, that he had a hundred shares of stocks and he sold it to me and I bought it from him and then I turn around and sell it the next day and I made $100 profit on it. Well during that time, the broker, let’s say we use TD Ameritrade, they have what’s called T+3. That means time, by the time of settling it and clear it, plus 3 days.
According to the law, the broker in all the clearing and settlement people on Wall Street, they have three days to take the transaction between us to clear it and settle it before they have to deliver the stocks to me or the profit to me. After they do that, they send the money. When I asked them to withdraw and send it to my bank account at chase bank, it takes more time.
When it gets to the bank there, that clearing and settlement time, so in Wall Street, the term that they use is called clearing and settlement. It doesn’t matter what they say 3 days or whatever, but the reality is from the time you actually made that money, you sold that stock, you made the money until the time that you actually can use that money is roughly around two weeks, based on my past experience.
When my business partner, Leon Fu Dot Com, I mean pieces of Bitcoin, fractions of a Bitcoin, to test it so I can learn what it was. The first question I asked him was, when does this clear and settle so I can send it back out? And he said, “just wait a couple of minutes.”
And I said, “what do you mean, didn’t it take like 2,3 days? Like they do on Wall Street?” He goes, “No” and he sent me the link to blockchain.info where my transaction was and we were just talking on the phone and like within like 10, 12, 13 minutes, it just cleared.
And he says, “There you go”. So you just wait until it has like three confirmations on there just to be safe before you send it back out. And I’m like, “how did that happen?” How did that transaction just clear in like 10 12 minutes?
And he said, “well, that’s the revolution behind”. That’s what makes the Bitcoin technology so powerful. And I go and then he started telling me about the currency, how censorship-resistant and its private and all this stuff. And I just zoned out. I didn’t even hear about that currency stuff.
All I saw was that this thing just cleared and settled in like 10, 12 minutes. And I’m like, “there is no way that Wall Street” and we did it a few more times and I couldn’t believe how fast it settles and clears and I can reuse that money again. And from my trading background, I know that there’s millions, billions and trillions of dollars on Wall Street from hedge funds, from institutions that have to move money around that take days and weeks.
So imagine if you’re a hedge fund manager or you’re in a mutual fund or an institution that needs to move money around, billions of dollars and you have to wait a week or two for that money to clear so you can reuse that money. How much is it worth to you to have a clearing and settlement technology that’s settled within 10 – 12 minutes?
Can you guys see the value in that? I’m not trying to persuade you guys to use blockchains or Bitcoin, but can you see financially on Wall Street, how something that takes two weeks to clear and settle that’s reduced down to like 10 – 15 minutes, how valuable that would be to everyone in the financial world.
When I saw that and I tested the Bitcoin transactions and I saw facet settle, that’s when I just pulled everything out, every bonus check I got, every tax, everything that I got and all the stupid doodads and material stuff that I had around the house. I just sold it all and I just put it all into Bitcoin. Anything, everything.
I was living on ramen noodles and peanut butter and jelly. It’s like back in college again. I just did it for myself, not for my wife and kids. I was not being a real Asian parent like my parents were. If I didn’t work, they just starved me. You Americans are lucky, man.
Reason number 5 is tokenizing ownership of a business. I’m going to share with you guys a story of what happened in our company and our channel and our business. I think it was in 2015, or 2016. I’m not good with numbers, so if I get the dates wrong, please don’t jump on my butt about it and beat me up or punch me in the stomach out in the hallway here.
There was a new Cryptocurrency wallet that came out called Exodus. Raise your hand if you have heard of the Exodus wallet. Most of the room.
So the best things that came out and I have a background in teaching art, used to teach art for many years. And the first time that my partner, my business partner, Leon Fu Dot Com told me about the Exodus while he goes, “Hey, go check out this new desktop wallet that they just released.”
And I saw the wallet and it just blew my mind. I couldn’t believe how easy it was to use. I didn’t have to read in tutorials, any instructions and I couldn’t believe customer service number. It was the first Cryptocurrency wallet that I saw that had a customer support number, had to pay nothing.
I just use it and call. And I even said, “I’ll bet these guys are a bunch of clowns. They’re not going to answer the phone”. I called them and it was like a Daniel Castagnoli, that the designer of the wallet. He goes, “Hey, this is Daniel. How can we help you?”
I mean, Daniel, the guy that designed this Exodus wallet. And he goes, “yeah, how can I help you?” I said this is Tai Zen, we want to Cryptocurrency. And he goes, “Oh yeah, we know about you guys.” And I’m like, really? They’ll flatter, and I go, “dude, you got a badass wallet here?” And he goes, “yeah, we just started.”
And we did some research and we found out they were offering like a Series A, which means that they were trying to raise money to develop that wallet. Our team saw that opportunity and we jumped on it. So I’m telling you that full disclosure so that if you guys think, “Oh, like why is he talking good things about the Exodus wallet? It’s because he’s an investor in their project.” Now you know.
Back then our team put money into the wallet because we believe it, cause it was the undisputed easiest wallet, best-looking wallet that we have ever seen, even to this day. And we said, “Hey, we want to be a part of this cause these guys, they get it.” Like you go into Crypto occasionally guys, you’re going to meet people in the blockchain and Crypto space where they just get it.
You talk to them and you know, “Oh these guys got it.” They get it like these guys over here, they might be lost and they have no clue what the hell they’re talking about. But these guys, they get it and they show that they get it. They don’t just talk about they’re getting it. So when we saw them, we invested.
So we got shares in their wallet, ownership of that wallet service. And they’re huge. They have thousands or hundreds of thousands of users on their wallets. We believe that more than likely TD Ameritrade or Charles Schwab or somebody going to come and just buy ’em out, they’re not gonna let a service that popular and that good, just pass them up.
We also noticed that they were a blockchain asset management tool. They were not just a wallet where you store your coins. We saw that they were going to use it so that people can manage their assets, their blockchain assets.
And when Daniel said, “Hey, you know, we designed it so that it was a blockchain asset management tool.” We said, “dude, that is exactly what the community needs, right?” But the problem with it is that the shares that we have in Exodus, we know that it has gone up in value, probably 50x, 100x since we are into it. That’s what we estimate.
But can we do anything with those shares? Can we do anything with those shares that our team has in the Exodus wallet? Nothing. There is nothing that we can do about it. Even though we know that these tokens, the shares that we have in the Exodus wallet are worth probably 10, 20, 50, 100 times more than what they were when we got into it.
There’s nothing that we can do. We can’t cash out, we can’t liquidate. The only time that we can profit from it is when they actually sell their business, sell their company, whoever buys it, buys out those shares and have to give us US dollars for those shares. And that’s it.
But what happens is the blockchain technology allows us to tokenize the ownership of business now? I don’t know, I forget how many shares are issued, but let’s just say the issued a million shares and instead of issuing a million shares, what if they would have just issued a million tokens that represent ownership of Exodus?
Now that’s different. Exactly. Because now what can we do with those tokens? We can trade them. We can trade on Ether Delta, we can trade on a decentralized exchange. I can trade it peer-to-peer, one person to another. So you guys see a huge advantage in that.
When I first got into blockchains, I never looked at it as a currency and just you guys know this is my personal opinion, ain’t no currency going to outdo the US dollar, not in my lifetime. Because you guys know why? Do you guys know why I say that with such conviction?
If you don’t know why, I invite you guys to go to San Diego, to downtown San Diego and you’re going to see some of the biggest aircraft carriers the world has ever built. And I want you to pay $100 or $200 to go take a tour of one of the USS midway.
It was in the Vietnam war. It’s been through multiple wars. It’s like a 50-year-old aircraft carrier and that’s a 50-year-old aircraft carrier. And I want you guys to walk on there and just walk through the whole aircraft carrier. And America has a dozen of those to protect the US dollar. Bitcoin has none.
As long as those aircraft carriers are going around the world and we have dozens of submarines protecting the US dollar, I don’t foresee Bitcoin going taking over the US dollar anytime soon in my lifetime.
Now, if you guys had been following our channel, you guys know that we’re straight shooters. We don’t bias nobody. We don’t give these pie in the sky, theoretical, “Hey, you know, if the world was like this, you know, this would be better.” We look at the reality of, “Hey, what is the reality?”
The reality is the US got like 3000, some nuclear warheads to protect the US dollar. Bitcoin doesn’t have any nuclear warheads. Bitcoin does not have 300 million people paying tax dollars to protect the US dollar. So that’s what we see as reality.
There are things that sound really good in fairyland over here and there’s the reality of the aircraft carriers that are circling the globe, protecting the US, interest in the US dollar. We don’t need the Bitcoin technology or the blockchain technology to take over the US dollar for businesses to benefit from it. Individuals can benefit regardless of what happens or not.
But back to this, when we tokenize the ownership of the businesses, there are lots of projects right now. If you guys go and check out Polymath and just search Polymath tokenization, you guys will see they’re one of the biggest projects right now.
If you guys do more research on it and obviously like I disclosed, if we talk about anything, just assume that we invest in it. So Polymath and T0 by Patrick Byrne, the CEO of overstock.com. Those are different projects that are focusing on this right here and this and the clearing and settlement is the reason why I got into Bitcoin.
Not because it’s going to take over the US dollar. Not because it’s a currency. I care about none of that. US dollar works fine. I live in America. I plan on going nowhere. In my opinion, the greatest country in the world. You don’t like it. You can go to other countries. There’ll be somebody else lining up to take your place here. I’m just a big American, what do you call it? Patriot. Big big fan.
I wouldn’t be where I’m at today if I was in Vietnam cause they ain’t gonna let you do stuff like this in Vietnam. You can’t grow up in the ghetto and then do well in Vietnam. You grew up in the ghetto in Vietnam cause where you stay at the rest of your life in the ghetto.
This scrags to riches stuff. It happens in America, not in Vietnam and these other third world countries. Whenever people that anybody in America says that, “Hey, you know, we’re being unfair, all this” – take your ass to Vietnam. Excuse my language, but there’ll be other Vietnamese, they’ll be happy to take your place over here like me. Back to blockchains, so tokenizing ownership of a business is a huge thing, guys.
I’m going to give you guys some examples of what I see down the line here. We have lots of hedge funds that are going to look to tokenize the ownership of the hedge fund. So I’ll give you guys an example. Let’s say the hedge fund is raising 10 million or let a million so the math is easy for me.
Then you put in a $100,000 USD and they might do like a million tokens for $1 million and then whatever you contribute, that’s the portion you own. So if you contribute $100,000 USD, that means you own 10% of it and anytime you can liquidate your positions. Obviously it’s a security product, so you’re going to have to register and do all kinds of legal stuff before you’re allowed to do that.
But I expect a place like San Diego, the number one best that you live in America in my opinion. So in places like that where you have huge, and even in Frisco here, where you have these huge commercial buildings just popping up, that charge like $30 USD a square foot for commercial rental and stuff. The developers can now tokenize the ownership of that entire building.
So imagine if Jerry Jones wants to build a new cowboy stadium out here in Frisco or in prosper. I know all the prosper residents like Kirk, we want him to build an out here. But imagine if he builds that for like $1 billion and he issues a billion tokens and anybody that wants to contribute to it owns that portion of it. Imagine that. And then at any time, you can sell your ownership of the tokens.
Imagine you’re the Dallas Cowboys tokens, they’re like lifetime passes or their lifetime tickets or their season tickets. Then at any time, you can transfer those tickets to someone else. So those are huge use case scenarios for tokenizing a business or a service.
That’s something that a bunch of different Cryptocurrency projects is working on, like to fund an entire commercial building and let thousands of people own it from different countries. And then just share that ownership of that.
Those are the five main reasons why would you use a blockchain? The last one here is privacy. It reduces threats and bribes. So we have Jake, raise your hand. Oh, everybody knows Jake back there. Awesome. Here, by the way, bro, back in the projects where I grew up, we would call that gangster.
It takes a lot to pull something like that off. So privacy is another thing, guys. I’m talking about the projects where I grow up in, if somebody in the projects finds out you have money, just what they can do to you, then you’ll get a baseball bat and come and be your new friend.
We call that threatening somebody. And it doesn’t matter how big the baseball bat is either guys, it doesn’t matter if it’s a plastic toy bad either. Cause when you see somebody come up with that and they threaten you like your business or to take bribes, they know how much money that you’re making in your business or they know how much money you’re making personally, they can bring that baseball bat.
They say that all the supercomputers in the military cannot crack a Bitcoin password. There’s a really easy way for us to crack it back in the projects. We just get a baseball bat and we come to you and I promise you there are guys in the projects that the ghetto that will crack that password real quick, with a baseball bat.
So what happens is when you have Bitcoin blockchain projects such as Bitcoin private, what it does is, it allows you to make your transactions private so that the guys with the baseball bats don’t know what you’re doing.
Because I just recently got a call from a bank and they said that, “Hey, you know we noticed that you have a lot of money sitting in your checking accounts, not doing anything.” I’m like, “Okay, what about it?” I didn’t think a big deal about it, but then they mentioned that “we notice these transactions coming in from quaint Coinbase.”
Now, what do you guys think about that when somebody says that to you on the phone? It doesn’t bother me because I know that, I’m using a centralized banking system and all the employees there can see what’s in my bank account. If whatever bank you’re at, it doesn’t take that much.
If you have you work at the bank to pull up, “Hey George, let me see what you got in your bank. Oh, you know, you look rich. Let me see. You know Donna down. Let me see you look like you got money. Let me see what you got.”
Your banker is not that hard guys. If you work at a banking institution to see what people have, so I don’t have a problem with that, but there are people like George, he says it’s none of their business, what I got in my bank account.
How many guys feel like it’s nobody’s business? What? He’s got 2 hands. He’s up here like this with his foot up in the air and everything. So there are people out in the world that doesn’t want the rest of the world to know what their financial transactions are.
That’s why we have projects such as Bitcoin Private and others like Pivx, Monero, ZCash that are aiming to make it so that it’s ironclad, private so that people cannot threaten you. And then the other thing too is that bribes, guess what happens when you know someone does not have money or have money, guess what you can do with them.
You can bribe them, “Hey man, if you pass this law, we can give you this much money.” Or if “Hey, you don’t have any money. If you do this for us, we can give you this much money.” That’s what the lobbyist and all that those people do. So by making a financial transaction private, what does that do?
That eliminates two of the biggest things in society. People are threatening you and people trying to bribe other people. So a lot of that corruption in Congress, we can eliminate that if we’re able to make it. There are groups out there that argue for transparency. But I want you guys to remember this.
If you try to bribe a Congressman, to vote for you, are you willing to pay for their vote if you don’t know what they’re voting on? Very many people don’t know that, and I think it was 1970 or so, that was when they started making votes public and transparent so the world can see what each Congressman is voting.
But I don’t know if you guys know this, but before that, our forefathers who built America knew that if you make someone’s votes public, they can be bribed. Because now we know what that person’s voting for.
So if I’m paying John Doe, Congressman John Doe to vote, against firearms to make it illegal. And he goes, “yeah, I’ll make it. I’ll vote for it to make it illegal. Just pay me 1 million bucks.” And then he goes and he votes on it and you see that he voted for firearms, then now you’re willing to pay him, but you’re not going to be willing to pay him if you don’t know what he’s voting for. He can tell you, “yeah, yeah, I’m a vote for, and then go then vote no or vote yes.”
Because of that, by maintaining financial transactions to be private, we eliminate those two problems right there. Reagan, could you raise your hand real quick? So this is Regan from San Diego, we brought her onto our channel as a fulltime privacy advocate.
That’s something that we really, really strongly believe in and that’s like the strongest thing that we believe in and on our channel and we’re willing to bring her on. And she’s a huge privacy advocate. She really believes in that.
So we wanted her to come onto our channels so that she can just fulltime broadcast about why projects such as Bitcoin Private, like Monero, like Pivx, like Particl, there’s a bunch of NAV coin, all of those. And don’t get upset if I didn’t mention these guys, I can’t remember all these projects. That’s why we are doing full time. It’s just talking about how the value of privacy.
Enough about me guys. Enough about the reasons why we use blockchains in businesses. Let’s take some questions from the audience cause I got like, how much time do I have? Like five minutes. So I’ve got five minutes to take some questions guys. Do we have the second microphone?
Oh, anybody has any questions? Here, could you help with the microphone? Thanks.
This is Eric guys. He’s our awesome community manager. Questions? Yeah, just raise your hand and then the Eric will come with a micro.
Audience 1: You know, you were talking about privacy reduces threats in bribes.
Tai Zen: Yeah.
Audience 1: It would seem like with the Congressman then they could just get secret bribes, through blockchain that nobody would know about.
Tai Zen: You can, but the thing is the privacy there. And you make a good point, the point you’re making is if we make financial transactions private. The thing is that if the Congressman sees that, yes, there are things that people can use the private financial transactions for.
And you are absolutely correct on that. But the thing is, if it’s an honest Congressman. So I come from the belief there are people that have this conspiracy belief that all the politicians are bad people. I don’t have that belief, I have a belief that the majority of the politicians that we nominate are good people and they are trying to do their best to fix the community and the things that they believe in.
I have worked with not politicians, but I’ve worked with many people in the Crypto space. And you know, I’ve worked with Jake, I’ve worked with Danny back there, I’ve worked with the Gladius team. I’ve worked with Kirk, I’ve worked with Jake here from the PROPS project. There are lots of people that I have run into that are trying to do good for this world.
And I have seen more people trying to do good for this world and that I do see people trying to do bad. And I always prefer the technologies, the privacy technologies that allow, that benefit the majority of the people that are trying to do good instead of one or two bad apples that are trying to do bad.
I believe in making laws and rules and regulations that benefit the majority of the good people in America, not the small, tiny minority of bad people. Hold on, let’s get the mic over here for Eric.
Audience 2: So one thing to know though is that if you vote in it is anonymous, then it doesn’t mean that you have to vote the party line. So it would actually be very healthy for our political system. Senators could vote their conscience versus what.
Tai Zen: Exactly. Yeah. There are people on the Democratic side and on the Republican side, maybe they don’t believe what their party is an advocate. Can you get Scott too, I think he had his hand up next to.
So yes, I agree with you, you guys do not realize this, but you guys are blessed to be in the presence of decreed Moses right here. You guys do not realize that this is Marco Pierre’s boom. Make sure you get a picture with him. Make sure you shake his hands because you guys are in the presence of greatness right here. I am dead serious.
These guys are not jokers. You remember how I talked about some people just get it in Crypto. Their team gets, there are other people writing white papers and bunch of bias, they’re writing code that works.
If you talk about the top 10 Cryptocurrency projects out there, I mean software engineering teams from an engineering perspective, what we would consider in the projects badasses, they would be one of those top 10. I live in the great country of Texas and I am glad we have blockchain engineers like them in Texas.
You guys are from Austin and Waco. What do you mention there about party lines? I don’t believe that every Republican believes what their party is saying. I don’t believe that every Democrat believes in what their party is saying. And by making things private, now they can vote on what they feel is best for their people instead of what their party has strong-arming them to do.
If you guys want more research on that, just Google $5 USD cardboard box reform by my good friend James D’ Angelo. He does huge research into privacy. How many of you guys have heard of Andreas Antonopoulos? Everybody has, right?
James D’ Angelo is the equivalent of Andreas Antonopoulos back in 2012, 2013, 2014, 2015, 2016 and then he saw that the civil war going on between the Bitcoin teams. So he didn’t want to deal with that. So he went and focused on things that he can make a change to.
He’s doing huge research on privacy right now in Congress and trying to lobby to make the congressman’s votes private so that they can not be bribed by the lobbyists because right now since 1970, around that time, all the lobbyists are able to pay bribes, pay off the Congressmen’s for their votes. And so he’s trying to eliminate that so that their votes cannot be purchased. Go ahead, Scott.
Audience 3: Hey Tai, I saw that or I heard you briefly mentioned that you’re working on some indexes with Kirk. I was wondering if you could let us know where we could get more information on that or what sort of metrics are you using?
Tai Zen: Let me just explain to the audience what the index is. First, right now the market has, in the traditional markets we have like the NASDAQ 100, the S&P 500 and the Dow Jones. And those are the three standard metrics that the market, the financial market goes by to measure the health and the pulse of the market.
We don’t have that in the Cryptocurrency market. So our team is right now in conjunction with a Kirk’s a software agency. We are trying to build the first, we’re not trying, we are, cause I’ve seen the alphas of it already.
We’re looking to build the Cryptocurrency market indexes so that when hedge funds, when institutions and Wall Street starts coming into, they already are but we need these tools. These tools are not there. They’re common. People see them all the time in the traditional markets, but we don’t have them in the Cryptocurrency market.
And since our team came from a trading background and we understand how Wall Street works, somebody has to build it. So why not us? John.
Audience 4: Since you started this journey in 2012 and I think you’re probably way ahead of everybody here. I mean definitely I’ve learned a lot, but since you started, it was a revolution. Now it’s an evolution. And where do you see it going and the blockchain technology?
Tai Zen: Okay. When I first started in the Crypto space, I was a die-hard Bitcoin maximalist. A maximalist is a fanboy. You’re a die-hard fanboy. If you’re a Bitcoin maximalist, that means you’re a die-hard fanboy of Bitcoin and no other Cryptocurrency, not even baby Bitcoins, like Bitcoin Cash and Bitcoin Gold, Bitcoin Diamond, Bitcoin, etc, just Bitcoin core and that are it.
But after the first year when after Ethereum came out and NXT came out, we realize that it’s not a personal belief. The market knows better than anyone of us individually. So when we say the market, we’re talking about the vast community of people using the blockchain.
And apparently, if Ethereum is worth $1,000, and Dogecoin is worth several billion dollars in market cap, the market is saying they have value for that. Now, regardless if I personally believe in it or not, it doesn’t matter.
The market sees that it’s worth that much, so now we are not a Bitcoin maximalist anymore. We are a Cryptocurrency maximalist and may the best project win. May Decreed win, may Gladiuos win. And it doesn’t have to be one winner guys. We believe that any of these projects can be successful.
Last question and then we got to get the next speaker up here. Oh, can you give him, like there?
Eric: Let me see your hands’ guys.
Audience 5: Hey, so earlier you talked about being an investor in Exodus, so you have shares in that company and you also talked about the potential of like TD Ameritrade, maybe, being interested in an acquisition.
So I have a hypothetical question. Let’s say Exodus needed more funding and they decided to launch their own token. What are your thoughts on how TD Ameritrade would then view, you know, acquiring Exodus? So the web blended ownership.
Tai Zen: When I say that I believe that a company like TD Ameritrade or Charles Schwab or one of those big brokers would just come and buy out Exodus. That’s just my personal opinion. And that’s my wishful dreaming and thinking, I want Bitcoin to go to $1 million of the token. I want Dogecoin to go to $1 million of the token also. And I want Gladius to go to $1 million of the token.
I want every Crypto project in here that’s going to speak today to go to $1 million of the token. That’s my dream. But that’s just my personal belief. I have no evidence of TD Ameritrade or Charles or anybody’s trying to buy Exodus.
But if they were to do it, if Exodus were to put all their company shares and tokenize it, the way that another company would come in and buy them out is they would have to come in and buy out all the tokens.
So they can either go onto the open markets, buy it from everyone, or they can have an agreement that “Hey, we are interested in buying out Exodus ownership and anybody that has tokens, we are willing to buy up all the tokens at this set price.” And then the people that want to sell their ownership to TD Ameritrade, they can, the ones that don’t, they just hold onto it.
Can you use the microphone?
Audience 5: So you’re saying if they were to tokenize it, then all of the existing shares would become tokenized?
Tai Zen: Yeah. And so they would have to go through the legal process, get with their securities attorney and make sure that everything that they’re doing is legal and compliant with US financial regulations.
And speaking of US financial regulations, guys, if a project does not want to conform with US regulations, you have these projects, blockchain projects outside the US that say, “Hey, you know, we’re in India, we don’t need to follow US laws”.
I scratch it off the list immediately. The minute they say that I’m like, “Hey, it’s good talking to you.” and I just hang up the Skype. Because if you’re not willing to follow the US laws, the US has the strictest financial laws that I know of, and if they’re not willing to form, comply with our laws so that we’re protected, why should I look at their project? Okay.