XRP QNT & Canton Holders! Documents Show Digital Asset Has Been Behind The Scenes For A Decade!

[00:00:07]What is Interledger's total addressable market size? All the money.

[00:00:15]What we're really talking about with this idea of the internet of value is creating a single global payment network that connects literally everyone. Big problem in payments is you don't have interoperability between networks. And that goes for blockchains as well, right? Blockchains can't solve this problem, right? Because blockchains are networks themselves.

[00:00:36]>> You are [music] not a blockchain.

[00:00:37]>> That's not the solution to to glue it all together.

[00:00:40]>> Blockchains don't solve the interoperability problem by themselves.

[00:00:44]>> As networks, they can't be a network [music] of networks.

[00:00:46]>> Internet of money, internet of value.

[00:00:48]Eventually, it is going to be a network of networks. Interoperable um you know with the existing systems. It complements the existing systems.

[00:00:56]>> So we need some kind of an inter networking protocol for payments.

[00:01:01]>> Create that internet scale protocol to move digital assets >> connect all of these various networks and can do multihop. Our bet is that interledger protocol is going to be the protocol of choice for interoperability.

[00:01:14]Our bet is that our bet is that so our bet is that this is so our bet is that this is so our bet is that this is going to be a successful interoperability protocol. a key uh component of this internet of value.

[00:01:25]>> Um so in that way it's a lot like TCP IP.

[00:01:27]>> So think of it as TCP IP of blockchain.

[00:01:30]>> Describe our work at Quant as laying the foundations with Overle to build the internet of trust. We are honoring the original vision of the internet by decentralizing it.

[00:01:41]What we're doing is replacing the centralized web that our technology is shaping the next evolution and generation of the internet. always had an idea of creating an internet protocol for money and they agreed. So we've got the US government involved, the internet engineering task force. They're the ones that endorsed and enabled TCP IP to happen. The ones that basically created the protocols that run the internet.

[00:02:05]>> They're looking to rearchitect the internet. Are you the web?

[00:02:09]>> Yeah, we we we call it the the internet of trust. So that it's the next evolution of the internet and >> it's already happening.

[00:02:16]>> Yeah.

[00:02:17]>> So it's not going to happen. It's happening now. Should we get into the main event here? Scott, I know you're just chomping at the bit. You've got some uh you got some stuff you want to drop. And Max, I know that uh you've actually got some stuff to complement that. So, let's cook this uh let's cook this stew. As Ma as Max likes to say, boil and mash it.

[00:02:32]>> So, Scott's got something. I got something to compliment Scott's research. I think Scott is 100% on this.

[00:02:39]To my knowledge, I don't think a lot of this is widespread, but nonetheless, I think you guys in for a treat. So, Scott, take it away.

[00:02:46]>> All right. Well, to to start off right, so with the DTCC announcement yesterday, everyone has probably heard most of the announcements to this point that it took place on two chains, uh, which is Composer X, the DTCC's app chain which is built on Hyperledger Basu and Canton network. And the interoperability between the two of them was mentioned over and over and over again. And I had known that Digital Asset was involved with the Linux Foundation, right?

[00:03:13]Creators of Hyperledger Basu. Correct me if I'm wrong in any of this. Um, but Linux Foundation were the ones that created Hyperledger Basu and the digital asset team gifted the name Hyperledger to the Linux Foundation. So, all of that was actually named digital asset was in the building and I have a slide. I have several slides, but as I went through and researched further, see if it'll let me share the one I want here.

[00:03:40]>> As you're pulling, I just I want to point some out to everybody. So recently we just saw from Ripple that you have X42. Okay. And so we talked about the Linux Foundation. All right. Scott just mentioned some things in regard to Linux Foundation. Myself and R have covered a lot lately of X42. So the the quant example X42. We got the the recent example that I even covered recently on Maximus Crypto Ripple X42. We covered obviously Stellar X42. Uh one that I didn't cover but it's there. Honorable mention to layer zero apparently has X42. There there's numerous other ones, right?

[00:04:15]>> Drop it in near near join.

[00:04:17]>> There you go. Yeah, that was one on the list too.

[00:04:20]>> Yeah, yep. It's a big deal. Go ahead.

[00:04:24]>> But so anyway, Linux Foundation, Hyperledger Basu. So I was like, well, how else are they involved? And I started doing more and more digging and that's when I found out that they started writing the DAL language into all of these apps before Canton Network was even launched into existence. They so instead of basically instead of trying to convince everyone to join their blockchain, they just made everyone speak their language so that everything migrates easily. So we're talking the Hong Kong government bonds, HKEX, Goldman Sachs, De Stos Borch. I mean they did the first atomic settlement trial on BESU with Linux Foundation in 2020 through fabric. They did the a pilot and was recognized as the standard. DML language was recognized as the standard by the Hong Kong government green bond pilot. So this is all this started over a decade ago. All of these people have been in the same room building this for over a decade. Th it's it's plugged into R3 Corda is written with DL. That's why HQAX was able to migrate over from R3 to Canton network for repo seamlessly because it allows all of these people to speak and inter and interoperate directly with the Canton network. And when you talk about how the BA Hyperledger Basu is set up and the fact that DL is wired in well city has a Basu swift has a Basu like every basically everything that runs on Hyperledger is independent and private but they can't speak to each other. They need that interoperability or that synchronized layer between them to be able to move assets. And that's exactly what Canon Network does with the global synchronizer. And it already speaks the language.

[00:06:06]>> Do you have more?

[00:06:08]>> That's it.

[00:06:08]>> That's it.

[00:06:10]>> You want more?

[00:06:10]>> Well, I I just thought I just thought you I'm not complaining. All right. I just thought there was >> I mean, I can all the sources I could site, but I'm not pulling up the documents. I know you like to pull up all the individual documents and and break it down. But I went through a whole presentation with 10 slides in my stream this morning.

[00:06:27]>> No, I can't blame you. You're you're probably, you know, uh, worn out with that. I just want to point out something real quick. So, you mentioned, I mean, a lot there, right? You got, uh, Hong Kong monetary authority, you got Goldman Sachs, talking network of networks, right? Quant, Canton, both claim to be a network of networks, right? I just want to show you guys something real quick.

[00:06:44]This is going to complement what Scott was sharing. So, right here is the RSN technical report. And the reason why I'm sharing this is for one, I never shared this particular one before. I don't know if somebody like maybe Cyber Sematicore, somebody like that shared it. Maybe you shared this. Have you shared this before, Scott?

[00:07:00]>> I haven't shared it, but it's actually in that list of sources I pulled up from this research.

[00:07:04]>> All right. So, to back up what you're stating, I'll just make it quick as well. Scott knows what the heck he's talking about. So, for one, in our little private discussion that we had in the coin vault long view compute, you know, group chat, you mentioned Swift.

[00:07:17]Okay. So in this RSN technical report literally side by side you have swift and it mentions on page 942 of this report again regulated settlement network swift a global provider of secure financial messaging services played a supportive role in the RSN PC.

[00:07:32]So what is PC guys? That's proof of concept by providing its swift interlinking prototype. So again, I use this reference so many times when it comes to prototypes or somebody in the in the in the questions earlier, right?

[00:07:44]Says something like, you know, is it this particular one and it says something like, well, we're talking about it's kind of like asking if if the internet, you know, which which email did you buy or whatever, right?

[00:07:55]Everybody uses email. It's not that's not the concept, right? The concept is prototypes. It's protocols. says this capability facilitated messaging messaging excuse me orchestration between the different DT networks and their solutions is essential right so look what it says here to have an interface with other systems enable use cases requiring crossplatform communication they even mentioned Mastercard here which I'm going to show you example and then right over here as we know is Broadidge and we know Canton's whole thing with Broadidge right like I mean anybody that's following Canton should know some of this right just just real brief broadidge through his DL platform contributed to the RSN POC by simulating access to their solution for the settlement of repo transactions on RSN.

[00:08:38]Now, why am I highlighting that? Have we not seen a lot of discussion from DTCC on exactly this to the tea, >> right?

[00:08:45]>> How many how many times have you seen Nadine Shakar or other members of DTCC mention specifically repo? Right. So when the RSN came together again, the regulated settlement network hosted by the way by city, this was all the stuff that was happening while everybody else was all focused on all these other areas. Right. Right.

[00:09:02]>> Um there's another thing I want to point out is the collaboration with Broadidge the potential for integrating traditional financial processes with advanced DT solutions. So there's that.

[00:09:12]Now watch this real quick. This is this is good. You may be wondering, well that's cool, Max. I don't see it say Canton. It just said Broadidge, right?

[00:09:22]Okay, that's fair. Let's just get into that as well. Right here, we literally have the example of Canton. How? Well, on page nine of 42, other contributors, they point out digital asset. They point out that it was literally chosen.

[00:09:35]Listen, not like, oh, we might we might get into this. No, it's chosen as a software provider for the RSN PC. So, that in itself is a huge endorsement from the RSN. And again, who hosted that? The main host was City as in City Bank developing a system on their network solution Canton network using DAML. So I remember your chat Scott where you were like well Daml smart contract. So again it's literally telling you DAML or smart contract software language was utilized to enable RSN settlement venue. All right. And then again the collaboration and at the bottom it says there's documentation aligned with the business objectives delivering the functional system that was built to enable RS and while leveraging the strengths of distributed ledger technology DT systems and that's plural. They're not saying it just once they're saying systems just a little bit more. This is literally taken from a particular video which you'll see a little clip here in a bit. I won't necessarily play the video right because in respect there's a lot of people here.

[00:10:30]Okay. Figure 11 MTN with Swift integration at the coin vault. This was one of our first Canton videos, believe it or not. And as you see in the orchestration, RSN fmi, right? You see here the correspondent banks, but boom, a Canton note and with a swift connector. So right there to the Mastercard MTN, which is obviously a really really big deal. And to give you more of that example, I know that this is blurry because this, you know, it's taken with a cell phone direct RSN connectivity model. Sometimes people want to see this orchestration. They say, you know, I I've heard all these rumors, Maximus. I heard all these rumors, Scott. I heard all these rumors, Rob and Brew and everybody else, Krux, but I need to see it's kind of like Jerry Magcguire, show me the money, right? An alternative setup where the MTM platform directly integrates with a Canton native API. And by the way, using ISO based message structures was explored. So sometimes I see people who haven't done enough research, they'll point out, I don't know about Canton, they don't really have this ISO plug.

[00:11:25]There you go.

[00:11:26]>> Yeah, >> there you go. They're right there.

[00:11:28]They've always been there and they apparently have been there long before they have gone public. You see, you see the whole thing with the MTN. Then we get over to here it's like well what about the whole thing of like other platforms like maybe Google cloud they answer that you have right here partitions hosted within a single Google cloud platform. Now shout out to Quant because they recently did the Google universal ledger integrations literally called that. And we see here it was housed in the RSN FMI components but more importantly where inside the canton domain and how through this system architecture that points out the correspondent banks the Canton participant nodes and again that Canton domain. Now the funny thing is this I always think it's interesting when we see quant network visuals shows a horizontal stack on top but when we see the canton visuals it's a horizontal stack on the bottom with their domain connecting up. Is that by definition also a network of networks? Seems to be.

[00:12:26]>> And on top of that, watch this. We also share this on the coin vault. The transaction sequence. This is literally the global synchronizer in practice as you see here. And again, sequencers, mediators. Remember how we talk about cash? We have fed cash and those securities involved with here. What's required, the responses. So again, when we talk about ISO, ISO is basically what? It's basically the banks and all the other major institutions, their way of text messaging each other like, "Hey, I just ordered a trillion dollars from you. What are you going to do about it?"

[00:12:57]And then the other guy's like, "I don't understand. This is a bunch of gibberish." But boom, you are now able to communicate where before it would take forever to communicate that. Now watch this. Digital asset was chosen according to this document as a software provider like I pointed out again leveraging on top of that. Here's the paper trail, BNY Melon, and all these other ones. Now, before I jump into this, I want you guys to see this real quick. I'm not going to play the video.

[00:13:21]I play this before. I remember doing a collab with Yuru, and we have special guest, um, our brother in the space, underdog. Okay, this is so interesting because it matches up with what Scott was talking about earlier. Regulated settlement network, United States proof of concept overview. You see the participants, City, JP Morgan, Mastercard, Swift, TD Bank, US Bank, Visa, Wells Fargo, all these ones. Now, notice how I mentioned all these ones.

[00:13:47]And also these other project contributors right here, right? That's a lot. It's definitely a lot. And what does Canton specialize in everybody when it comes to tokenization?

[00:13:58]US treasuries. So, look at what's in scope there. Central bank deposits, commercial bank deposits. out again.

[00:14:05]Even CBDC's, cryptocurrency, stable coins, uh, they said that's out of the scope, but this has changed recently thanks to what? DTCC. Now, watch this just real quick. You saw that list there. Look at these ones are on this list. Now, watch this again. We already done this from the coin vault, but you need to see it again, especially on the live. As I jump over to here, everything is going to match up and then some.

[00:14:27]Remember how I mentioned Bo Melon? So you see here BY Mill participating Canton network was also a Canton participant in the US RLN. We also have your what city users you were going to share a document. I don't know why you didn't maybe you will later about the whole plug with Versagna. Shout out to Francisco in the comments. I know you've done a lot of research about RSA. HSBC you have US R pilot run by FRBNY and using Canton. And so even DAML for smart contracts right below that. What do you also have here?

[00:14:58]Mastercard Roln using Canton. Again, these phases have already existed. So, basically, it's like this. Scott's thesis on this stuff existed many years ago and and your whole thing of like, huh, I I wonder why that is. It's because they had the correspondent banking systems and these invitations to some of these guys. They already did this. I I think they did this basically in 2023, 2024, give or take. And we also see here Swift and we just gave you that example earlier. So Swift was a participant in the US regulated liability network run by the Federal Reserve Bank of New York. Boom using Canton where the movement of funds between the Fed and interbank ledger was testing using fully deployed Canton network. And of course there's there's numerous other examples. I don't want to do so much of that. But in a nutshell, I think you guys kind of get it when it comes to this. And last but not least, here's the icing on the cake. You did mention specifically DAML smart contracts. And the reason why I want to show you guys this is because in my research is so much more than what we just shared in the past because it's not just about what you saw from the RSN.

[00:16:02]Believe it or not, there is a Canton plug to even things like the Bank for International Settlements. And the reason why I'm highlighting that just real briefly is because I want you guys to understand that if you were to analyze this document, you would quickly see that the BIS document talks about a prototype. Remember how we mentioned prototypes earlier at the very beginning of this? There's a prototype for tokenized green bond tokenization. I know that's going to trigger some of you guys, right? It is what it is. But using what? Digital assets. DAML. So again, that's a smart contract. Again, in partnership with the GFT simulates the full life cycle. Not some of that life cycle, the full freaking thing.

[00:16:35]Issuance, subscription, settlement.

[00:16:37]Everybody talks about what it settle.

[00:16:39]What do you think it's going to settle in? Canton. So again, settle in secondary trading, corporate action.

[00:16:44]It's a DAML enabled DT platform. And bam, right back to what Scott was talking about earlier with his visual with the Hong Kong context of HKMA HKEX involvement in the broader project vision. Guys, this directly backs early DAML work just as Scott was providing us in his thesis. Early DAML work with Hong Kong government green bonds and tokenization efforts. How so? It's literally telling you right here that project genesis page 6 to32 of this document says here it's going to do this whole thing with digital asset along with this whole thing of employing blockchain dam smart contracts by using them and also has internet of things that right there my god everybody wonders right Rob wonders why Hara did his honorable tweet for no reason they don't do that for no reason there's your reason in my opinion right Again, it's just opinion, but I also go to the freaking documents and it shows automated workflows. And then also, again, if you're wondering about this, let's just take you over to here. Did they also mention Canton by name? It's literally in their glossery right down here, page 2032. Digital asset dam ledger interoperability protocol. They site, this is bank international settlement sites, Canton right there.

[00:17:59]That's all I have.

[00:18:02]>> [cheering] >> Well, I got one more slide that we can pull up if Rob wants to because you said you think it goes back even further here. So again, in 2015, digital asset gives the name Hyperledger to the Linux Foundation. IBM and digital asset in 2016 combined code to create Hyperledger Fabric is born. This is verifiable through the actual code. Basu becomes open to the world in 2019 with consensus contributes pantheon and becomes hyperledger basu digital asset in 2020 began running DAL on BESU and connects with fabric and atomic settlement is proven. So before Canton network was even network they were writing DML smart contract language behind the scenes getting everything ready to go and Canton network is the essential spirit child of the early work they did to plug everything in together. Yeah, and that smart contract language was definitely focused on two things and it was really just privacy and regulation. So, um you're not able to publish on that that ecosystem without understanding that language which is also good for security just like we know Cardano for example is created in HASLL the same programming language NAS uses. Um so nobody's going to learn this security to try to hack one ecosystem. So I think DL is powerful.

[00:19:13]>> Well also on top of that too Hyperledger has steered away from focusing on privacy. They left it up to the responsibility of the apps, right?

[00:19:22]>> So if Hyperledger is not going to be focusing on the privacy element of it, where are these institutions going to go if they need privacy? Probably to the private blockchain or the blockchain that offers the best privacy that's connected to BESU.

[00:19:34]>> And here's the example. So we have also covered this I think on uh coin vault as well. Right here, this is from docs.orgger.dev. Here's here's the network of networks as well. Engagement networks section 5.3 for networks where node identity matters. Gez, did we not highlight this whole orchestration of the node with Canton? Typically permission DTS used by regulated consorcia and operated gated public chains. Overledger does not self-s serve currently, but these networks require a project engagement to integrate. So again, project engagement. Didn't we just have project engagement from city's RSN? We did. These networks require a project engagement integrate because memberships, MSPs, subdomains. So remember how we talked about those domains literally showed you on that orchestration. Remember how I said uh basically Canton's version of their horizontal stack but it's on the bottom connecting to the top and if anything or ledger is on top connecting to the bottom look what it says here privacy groups right there operator agreements have to be set up before the connector can be even wired up the connector what about a global synchronizer what about canton connector right DT families quant already has connectors already built for watch this so Scott just talked about hyperledger right you have hyperledger fabric all right what about R3 corded R3 cord XDC, R3, Corda, XRP, we have R3 even to Salana, we have it to numerous things. And boom, there's your canton for permission. DAMLbased privacy contracts and subdomain configuration must be aligned with each participant.

[00:20:58]Not to mention all these other ones we just talked about. I talked about early Google universal ledger. Boom. Right there. They even have the new Hyperledger Paladin, which I'm been learning uh recently. There you go, Scott. Hyperledger Bessu. So again, for regulated EVM, those Ethereum virtual machine deployments. So right there is your plug to like your Wall Street etc etc to bring in and funnel some of that from Wall Street. Uh the connector needs the consortium configuration. Here's Quorum. I'm literally thinking of like XDC because we know that XDC is a fork of that. But nonetheless, there's JP Morgan connection. And then people are like, "Oh, what about Ripple? What about XRP?" There you go. Public chain but over XRPL integration size per use.

[00:21:34]There's rate limits, etc., etc. There's seller and believe it or not, even Bitcoin. There's so much to unpack here, but uh I just wanted to compliment you even that much more. literally called some of this stuff and then when we talk about Kuant networks it's there too anyway >> right yeah it's when I started digging into Basau when they when they finally named it I'm like what exactly are they doing and how long have they been involved and when I saw that they literally helped write the code and name the network I mean come on you all think me and Max have been talking the whole time I'd love to hear you all >> means go ahead you guys I'm sorry that >> I mean y'all just cooked both of y'all cooked I'm proud of y'all first of all I gave my little take in there on DL um you guys are definitely advanc on these ISOs and that's pretty cool. Um, so I mean Oh, good.

[00:22:16]>> When someone's dropping alpha, don't >> Yeah, just stay out the way. Stay out the way.

[00:22:22][clears throat] >> But you guys all do that as well, you know? Right. One thing I love about what we all got going on. We all provide our own way of doing that. People call it alpha. I try to be humble about that because I know some people are like, "Oh, this guy's a goat. That guy's a goat." I'll do like, you know, kind of like what Michael Jordan does, right? He recognized different eras. Well, we we're living in this era and it's the era of blockchain and DT and going into web 3, right? Uh there's a lot of people that have great research. I would never claim to be like the goat of anything, but um I just I love what we got going on and it's just to bring you guys facts, bring you the documents, and then if anything, you take it and you make a decision for yourself. Nobody's telling you, hey, you need to go buy so much of X, Y, and Z token or whatever. Um >> no one says that. Not a single person.

[00:23:08]We give the information and bounce. It's like it's never you need to go get this now before it's too late. It's just here's the info. Do what you do. I love it.

[00:23:14]>> Indeed.

[00:23:15]>> Yeah. Walter compites the crypto, right?

[00:23:17]Anyway,