How Big Banks Like JPMorgan And Citi Want To Put Wall Street On A Blockchain
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- čas přidán 27. 06. 2024
- Investors at the New York Stock Exchange trade upwards of a billion shares in a single day, but many of those trades take days to settle. Big banks like JPMorgan and Citi think they have a solution, and they need to borrow a tool from crypto to make it happen-blockchain. Citi thinks tokenizing assets on the blockchain could be a $5 trillion dollar industry by 2030. But tight regulation of markets, and a crackdown on crypto from the SEC could slow adoption.
Chapters:
00:00 - Introduction
01:36 - Chapter 1
03:28 - Chapter 2
05:19 - Chapter 3
07:35 - Chapter 4
Produced by: Jordan Smith
Hosted by: Tanaya Macheel
Supervising Producer: Jeff Morganteen
Graphics: Christina Locopo, Andrea Schmitz, Alex Wood
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How Big Banks Like JPMorgan And Citi Want To Put Wall Street On A Blockchain
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
I Agree. I've traded for several months. I barely knew anything about the markets when I started but recently, some at Merritrade advised I get a financial-adviser that has good experience. I did and things changed. My portfolio grew by 150% in 8 months. How was she able to achieve that? She invested my money in reputable companies which their stocks must always rise after any dip.
Awesome. Mind sharing the contact please
Michelle Christine Parker is her name. She's quite known and has got a website. So you can just look her up online
This is true. Forecasts can, at best, give you the slightest idea how the market will fare. It shouldn't be heavily relied upon.
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3 bot accounts talking to each other
I think many fail to realize that a lot of stock trading doesn't flow through the exchanges between two entities such as from one brokerage to another brokerage. Many times the market maker is the broker such as Fidelity, which is a brokerage and has an in house market maker for trades between its own clients and its products. So if a Fidelity customer sells shares of Apple, there may be a Fidelity customer that is also buying simultaneously. That trade would be routed through Fidelity's market maker first before any attempts to use an outside market maker. Also, Fidelity manages mutual funds and ETFs that can also be a source of shares available for sell or to buy, which may be the opposite trade of a client. All these trades get reported to the exchanges in order to in sure best price and keep track of volumes, which is all regulated by the SEC. In this situation Fidelity only needs a secure system and not a trust system because Fidelity doesn't need the blockchain to validate with multiple ledgers of the same information.
So, basically, a benefit to big banks, not the people.
“Revolutionize” code word for make us more money. Nobody will be well served by blockchains except for very wealthy banks and corporations and hackers.
I'm a computer engineer and scientist. I have studied block chain and other peer to peer support systems and I know that most people dont know the short of the block chain tool.
So, adding a block chain would tie all monetary accounts across the banking industry. Investments, loans, accounts, and transactions would all need to fall under the umbrella to make this work. And that is the metaphorical rub.
A block chain works with the consent that all parties can see what everyone has because they all have the same data. So, if one computer requests a transaction, a percentage of other computers need to agree. The problem is time. Not all of the computers have to be in on the transaction because time is money, so a percentage needs to agree to the act or it can't be done.
For the past decade, crypto agencies have tried to say it was unbreakable because everyone was watching everyone else. Yet, over the past decade, we've seen continued failures to block chain monitoring and monetization business models.
Then it failed. Millions were stolen and sold by both homegrown and foreign aggressor countries. Two of the biggest were an influencer couple in Manhattan and North Korea stealing 10s of millions while everyone watched.
The truth is that blockchain is susceptible to mass infections of Trojans and worm programs. The hash needs at least a 50% consensus to make a transaction, but this is not always the rule, and this has been mentioned as a possible failure point.
A secondary issue is that if all these banks have everyone's information , it could give rise to a new generation of red lining which as been a problem with banks and investments firms in the past and which still presents and well hidden today.
This move is, in actuality, a move to help banks save themselves money, cut off risk by already pooling low income consumers into a bucket, and maintain anonymity and immunity when the system fails.
I'm only a bit informed about the basics of the basics (i.e. very little) but how exactly can it happen that fraudulent transations are accepted, that couldn't have been passed based on the rules of the blockchain (e.g. sending crypto that's not yours, as you'd normally need the keys)?
Because code is not perfect.
Maybe Satoshi is the one hacking it
I think the hacker can hack the exchange platforms to steal bitcoin, not the bitcoin itself. I don't think currently there is one single computer can crack SHA256 algo.
@@yuanhaozhao2257not that you know of. Quantum computers are a thing. They’re even available through aws
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I’m surprised you know her. I’ve been making a lot of profits investing with her for a few months now.
I am new at this. How can I reach your broker?
I was skeptical at first till I decided to try. It's huge returns is awesome. I can't say much.
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Tokenization can reduce the costs associated with trading and managing assets. This is because blockchain technology can automate many of the processes that are currently manual, such as settlement and clearing.
At a basic level, isn't currency a tokenization. If so then it isn't tokenization which is most important, it is the accounting which is important. Will people agree to all within the accounting? Won't there be someone who works around/games/cheats the new system, just like all systems in the past? Isn't Blockchain just an another accounting?
Yeah it is literally called a "ledger"
Not true at all
Its great for theft
Splitting property a dream for any lawyer just imagine all the conflicts resulting from such reality
So they want to do this just so they won't have to pay money.
Blockchain is a slow database, all they want is marketing associated with blockchain hype
NFT - non fungible token. Instead of a picture of a monkey your token is the deed to your house / car or a stock or whatever. Nobody seemed to understand that part of NFT
This is big!… that makes me wonder about the day trading minimum requirement for day trade settlements.
You could shut down the whole US economy if you take out the electric grid.
STO will be the first practical example of blockchain. Most NFTs (royalty revenue from sale, financing through issuance) actually have the form of securities.. STO is expected to absorb the NFT market as well. In addition to NFTs, assets in various industries (real estate, art, bonds, etc.) will be tokenized
many types of assets are converted into STOs, which cannot be embraced by all centralized exchanges, so Uniswap in the STO world is needed to provide liquidity to STO-based assets.
Ixswap in Singapore is doing this. Researching ixswap will also be of great help in understanding the STO industry!
Wrong Solana is better
Unless tokenization of stocks provides voting rights per share, I don't see any real benefit to the average investor.
I’m sure it will probably why in crypto lot of involvement in governing and voting nowadays. I’m sure it will come in new form of tokenization as well.
Owning the stock so short sellers cant sell it fictionally or without paying you perhaps
New methodology can be used in financial services.
Improved security: Blockchain technology is a highly secure way to store and track assets. This can help banks to protect their customers' assets and reduce the risk of fraud.
New World Order
T+2 business days is the most anoying thing daytraders have to deal with. Removing T+2 with blockchain seems brilliant.
Best wishes...
Blockchains are a privacy nightmare. The blockchain contains all the information and everybody can download it to verify it.
trust me it's happening as we speak. Blackrock is already on board so JPM is not going to pretend that they are not on blockchain already.
JP Morgan asset sold 5-4-23 check not cut until 6-30-23 WOW, what a ...
Before fintech, people are busy but during fintech the banks are still fully packed...why
Brazil is already doing this...
If banks go to blockchain, I will be stuffing cash under my mattress 😂
Lol😂... Yeah..and it will all go to $0... Lol banks rule the world... Not your worthless paper money ..
@@cetujavu3466 no more worthless than a made up currency, backed by nothing
The current system has very low latency and takes two days to settle trades? Those two statements conflict with each other.
Programmable Money.. XLM, Monero , XDC
I'm gonna buy the engine of cars and charge subscription
Erick rolando Landeros moreno ❤😂
You probably should fix the hacking first. Without account security noone want to touch it.
I'm impressed how quickly this came out, you timed it well with the release of FedNow!
Has nothing to do with it
@@hamedismaeal1288it doesn’t, but it is the predecessor and FEDNOW will eventually be tied to Blockchain down the road
If Blockchain is so secure how come we keep having companies like FTX commit fraud?
YNGMI
Lol..FTX. Not a blockcahine company...
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Lets raise the debt ceiling once again!...
😅
Not only no, but absolutly NO!
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I'm surprised you know her. I've been making a lot of profits investing with her for a few months now.
Mrs Rose changed my life because of the high profits I got from investing with her.
You invest with Mrs Rose too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
Just hearing that big banks want to do something is already enough for me to wish it to fall through
A smart person would leverage what they are doing and invest to be part of the next generational wealth transfer. Or you can get cut from the middle class and be classified as poor, because the world is only getting worse. Think
In a world where centralised systems with authority already take up multiple server farms and the electricity and water required to keep it running and cool, is it really wise to introduce Blockchain methodology, where X servers used will now be 50+ X servers, just because "consensus"?
LMAO, you really are something special if you think these things are not already being maxxed out. and no is not coming from crypto,
is coming from AI, and the large datasets + GPU's needed to train the models, it makes crypto look like a childs play
@CNBC you guys make billions per year and you can't afford a couple youtube mods to moderate your channel comments? It reflects really badly on your channel and your company as a whole allowing endless scam comments on your videos. If you go to any of your videos comment sections you will find the top 10 or more comments being nothing but financial scams. Please fix this before all respect is lost for your company and you end up being known as "that scam channel".
get rid of the clearing systems.
Girl in orange with the heavies 🏋️♀️
0:22 ❤❤❤❤❤❤❤❤❤❤❤❤❤🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Delegating Authority and decision making to a consensus algorithm is problematic. How do you update software on a decentralized system? Blockchain is dead in finance, it’s not happening!
Exactly, even currency is dead on Blockchain.
If "code is law" and the Blockchain becomes the source of truth, then hackers become both the judge and criminal.
blockchain cant be hacked unless more than 51% falls into a single entity, the long term idea to tokenize stocks would include a sort of private blockchain, projects like strike x are working are on Proof of Authority blockchain currently to bring this to a reality .
@@poptartrog "blockchain cant be hacked unless more than 51% falls into a single entity,"
Which has occured several dozen times already. Owners need only be phished and there it is - all gone.
As for "Proof of Authority" blockchains, we already have something more established already. It's called the law.
Blockchain isn't trusted.
Sorry, I don't think the block chain idea is good. I'm good with the lag and multiple people in-between.
like FTX only infinitely larger
2% 💶 Stocks cyber security
KDA
wallstreet already lost. The open DEXes are already taking big chunk of revenue off their hands
Dogecoin takes 1 min worldwide, fully auditing itself. Use it😎
That ending she said programmable money. Not sure I like that.
I mean why do we need everything to be on the blockchain? It just feels like a new buzzword you hear everywhere for the past two years now...
How is that going to improve anything? Yes the current system can be missused, but an unchangable blockchain will only make that worse. I mean to me it feels like the long settlement times and all aren't mainly due to technical limitations, a lot of it is probably also simply due to investor protection.
Also I don't think that the blockchain is going to be much more decentralized, if we continue to put more and more data on it and attach more and more things to it. Such a system is literally prone to fail, as that would be an extreme centralization of everything, which means that if anyone managed to get control over the blockchain, they'd hold the entire world in their hands. It seems a bit risky to think that decentralization is the answer to everything. And I'm sure the costs won't be much better too...
Dogecoin and BTC!!!! Open source, same code, one replace hold and the other as currency!!!
No no no and no.
Sound of background is very annoying. It reduced quality of your voice and content.
Please remove sound of background for your next episode.
I feel like I have heard this joke before
ETHEREUM AND BITCOIN FOREVER
#AVAX
Blockchain applications are a way for decentralized consensus. A centralized blockchain is just a glorified database. This will not be a blockchain as we have become accustomed too, like Bitcoin or Monero, they are just using a buzzword to create a centralized authority to settle trades instaneously; calling it a blockchain is a stretch imo.
Okay, then a database is more useful. It’s a database.
I second this.
how? they will block your money with chain made of complex systems and laws
help me, trace andi samsudin arsyad about land grabbing.
All clients want is to be able to invest their money where their values are. I don’t want my savings going to companies that use plastic packaging or create environmental waste but like I’m neutral on booze and casinos. Someone else might feel differently but what choice do you have on ethics of your retirement fund manager
Too tired to care
#XRP will be the way
Impressive, a 11 min video about blockchain and not a single mention of Bitcoin or Ethereum ,after years of denying most of its benefits, potential and minimising the current financial systems constraints, going on and listing them one by one in a video, visionaries.
Lol.... After SEC.vs.Ripple.... XRP only token with clarity.... You still talking about BITXOIN and etherium.. Lol😂..... Just because someone from CFTC.or SEC.Said bitcoin and etherium are not security.... That does not mean ...it has clarity... Lol😂....only Congress or court..can give non security clarity...😂
@@cetujavu3466go home 🤡
@@cetujavu3466 Huh ? who cares about xrp man, it wouldn't change a thing like all these other formes of centralised or government controlled cryptos? isn't Bitcoin is the only one the sec never considered other than a commodity? Anyway I dont care about the sec clarifications especially in crypto and tend to try and form my own opinion every once in a while.
This music was awful. Why was it so high pitch
GOOD MORNING AMERICA
XRP hooks
I pradeep manghwani complaint against country club and their people and GCC club and their people and many years before my sister married one person and afterwards we come to know that that that person was was countryclub's and GCC club"s person then my sister took divorce from that person
ba idea
From Friction to frictionless = @Ripple & $XRP and the $XRPL baby!!!!!
😂😂😂😂😂😂😂😂😂 ENJOY THE 🤡clownshow 👻
~borrowed, forgotten, stolen
○ 🗽
man woman child dead&living~
Amen
You will own nothing and be happy.
Oh no
Wow
maybe my klimadao will be worth something now😊
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Hi
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BTC
I pradeep manghwani complaint against country club and their people and GCC club and their people many years before my sister married one person that person and that person's family members very much tortured my sister and and aftetwards we come to know that that person wad countryclub's and GCC club's person then my sister and we took divorce from that person
FUS RO DAH
There is already a solution for this. This is what Etherum and Cardano are for. No need to reinvent the wheel
There would be zero reason to use an existing network. You don’t want to pay for the “currencies,” You get them for free if you build it yourself.
@@JakeSmith-jy1kx that is different then, that is a centralized blockchain.
Bitcoin is why this is all happening, which is genuine innovation. Blockchain is only useful for creating unchangeable rules that no-one controls and is truly decentralized. This is just hype.
Sure, but more so XRP
This has nothing to do with Bitcoin.
Finally banks start listening to what we have been saying for almost a decade
കർത്താവായ യേശുക്രിസ്തുവിൽ വിശ്വസിക്കുക, നീയും നിന്റെ കുടുംബവും രക്ഷ പ്രാപിക്കും. യേശുവിനോട് പ്രാർത്ഥിക്കില്ലേ..??...
Crust network✌️🙋
Lol comments hear show the ignorance of many I’ll check back in 2 years to everyone saying WE LOVE BLOCKCHAIN
Buckle up, friends! Welcome to the future of real estate, where instead of dusty deeds and reams of paperwork, we're swapping properties as easily as trading baseball cards, thanks to the magic of tokenization.
Consider this: you own an apartment building, a jewel of a property that you've been polishing for years. Now, you want to sell it. In the old world, you'd be drowning in paper cuts and lawyer fees. But in this bright, shiny future, all you'd need to do is convert your property rights into digital tokens and pop them onto the blockchain faster than you can say "escrow".
And here's the kicker: these tokens aren't stuck together with the glue of tradition, no sir. They can be split up, representing fractional ownership of your property. Why sell one big diamond when you can sell a thousand sparkly shards?
For example, let's imagine Mr. Wonderful Investor wants to invest in real estate, but only has a small slice of capital. In our brave new world, he can simply purchase a token representing a portion of the property, becoming a part-owner. On the other side of the coin, if Ms. Property Mogul decides to liquidate some of her real estate assets, she can quickly and effortlessly tokenize and sell parts of her properties. This kind of liquidity is the stuff real estate dreams are made of!
With Central Bank Digital Currencies (CBDCs) in the mix, coupled with advanced AI technology, transactions become as quick and smooth as a greased lightning. You'll be able to buy and sell property tokens at the speed of a Wall Street flash trade, with the precision of a Swiss watchmaker.
However, friends, let's not sprint headlong into this digital dawn without some caution. While we're building this new financial architecture, we need to ensure it's not a playground for bad actors or a ladder to total dominance for big corporations. After all, we don’t want to end up playing Monopoly in the hands of the few, now do we?
So, strap in and hold onto your real estate tokens, folks! The future is here and it's got curb appeal! #RealEstateOnBlockchain #TokenizedTomorrow
P.S. Remember to keep the key to your digital wallet safer than your grandmother's secret cookie recipe! Because in this new world, losing your password could mean losing your penthouse.
It’ll only work on the BSV Blockchain w/ Bitcoin SV (BSV). This is not financial advice. @newyorkengineer @richnewyorker @bitcoindatapreneur
Go home 3rdworldape😂😂
Wow