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From Space to RACE with Miguel Buffara and Scott Dykstra

From Space to RACE with Miguel Buffara and Scott Dykstra

Released Tuesday, 25th June 2024
Good episode? Give it some love!
From Space to RACE with Miguel Buffara and Scott Dykstra

From Space to RACE with Miguel Buffara and Scott Dykstra

From Space to RACE with Miguel Buffara and Scott Dykstra

From Space to RACE with Miguel Buffara and Scott Dykstra

Tuesday, 25th June 2024
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Episode Transcript

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1:26

Tractor Supply trusts Five G Solutions from

1:29

T Mobile together were connecting over twenty

1:31

two hundred stores with Five G. Business

1:33

Internet and A eyes or team members

1:35

can match shoppers with the products they

1:38

need faster. This. Is enriching

1:40

customer experience. Tractor

15:33

Supply trusts Five G Solutions from T

15:35

Mobile together were connecting over twenty two

15:37

hundred stores with Five G. Business Internet

15:40

and A eyes or team members can

15:42

match shoppers with the products they need

15:44

faster. This. Is enriching customer

15:47

experience. So

18:00

that's our goal. Asset

18:02

tokenization, we were going to see the future

18:04

of crypto in a lot of different ways,

18:06

and we talked about it a lot. What

18:09

type of assets do you think need to

18:11

be tokenized? So if

18:13

you think like any asset can be

18:15

tokenized, the key is what to start

18:17

off with, what the community actually wants,

18:20

and what has demanded. So currently, there's

18:22

two types of demand, right? There's the

18:24

crypto-native demand, which is currently the people

18:27

who are using crypto now. They

18:30

want to protect savvy enough to

18:32

store their seed phrases, know which

18:34

apps to interact with has a

18:36

background in crypto, and is able

18:38

to interact with the on-chain environment.

18:40

So there's this type of demand

18:42

from these users, and

18:44

there's the demand from the

18:46

non-crypto-native, which just want probably

18:49

a tokenized product and a

18:51

stable, non-volatile-like investment. So

18:53

this demand hasn't been tapped into

18:55

because there's so many technological barriers

18:58

for these non-crypto-natives to onboard into

19:00

the on-chain environment that it's still

19:02

in the process of tapping into

19:04

this demand. The current

19:06

demand we have, which is from

19:09

the crypto-natives, I believe that some

19:11

of the interesting products that these

19:13

people will have is pre-IPO investments,

19:15

probably, which is a product that,

19:17

let's say, they don't have access

19:19

to in the crypto environment, and

19:22

it's really hard to get access to

19:24

if you are also in the traditional

19:26

finance rails, right? So

19:28

I believe that this will be

19:30

an interesting icebreaker to get into

19:32

this crypto-native ecosystem and provide these

19:35

products for them. But

19:37

we'll only know what actually has it meant

19:39

when we try. So we're coming into the

19:42

market in the beginning Q3

19:44

with several probe assets to start

19:46

off with. What type of basket?

19:49

Just probe assets. We're not focusing solely

19:51

on them. So we're actually

19:53

building the infrastructure for you and

19:55

anyone to come into our platform

19:58

and tokenize your products. So

22:00

it got launched in April, this

22:02

new modular on abstraction.

22:05

So we're going full force on

22:07

that because one of the pain

22:09

points I saw as a on-chain

22:12

crypto native guide is distribution is

22:14

really hard. And all the wallet

22:16

providers, they focused their KPIs solely

22:19

focused on volume and how much

22:21

they can incentivize their users to

22:24

trade. So it's really hard to

22:26

get new products that are not

22:28

focusing on trading volume to be

22:31

distributed inside this wallets apart from

22:33

all the legal and regulatory like

22:35

a framework that you need to

22:38

follow. I really feel like the

22:40

regulatory stuff is what's holding everything

22:43

back. If

22:45

you go to rwa.xyz, you can

22:47

see all the different platforms that

22:50

are offering real world assets. You can see private

22:52

credit and all the different, from

22:54

the African Innovation Fund to the

22:57

carbon offset fund to just treasuries. And then

22:59

you have real estate loans and stable

23:01

coins. You have all these different things

23:04

and commodities now, which actually is really

23:06

freaking cool. You can already yield

23:08

on that. So it's like, are the regulations

23:10

there? Do they still need to come through

23:12

to make it easier? How are some of

23:14

these companies doing it? What's the story there?

23:16

So what we can see in the market,

23:19

what's going on now is that tokenization

23:22

largest barrier is actually legal and

23:24

regulatory and how you're going to

23:26

do it. So you're seeing players

23:29

like BlackRock, which has all the

23:31

licenses together with Secretize, which has

23:34

several license also do stuff in

23:36

the tokenized environment, but they're not

23:39

actually doing it

23:41

in the on-chain. They're doing excellent

23:43

products. I believe they're doing

23:46

a really great job, but you're not

23:48

seeing actually the activity of the tokenized

23:50

products in the on-chain. If you go

23:53

to the on-chain space and analytics, you'll

23:55

see that these assets don't actually move

23:57

in the blockchain rails. They're

23:59

so stuck. So that's

24:02

what you analyze if you go to

24:04

the on-chain. In terms of regulatory,

24:06

like we have a big team working

24:08

on that. I'm not leading that side

24:11

of things, so I'm not the best

24:13

person to talk about the legal and

24:15

regulatory framework surrounding tokenized assets. Of course,

24:17

of course, it's just really interesting. So

24:20

back to the demand side, any type

24:22

of investment you do requires paperwork from

24:24

loans to investments to buying real estate,

24:26

sharing different investment with friends, starting a

24:28

business, do all these things like as

24:31

paperwork, and then there's servicing. And a

24:33

lot of paperwork is still on the

24:35

internet now, but there's still like, it's a

24:37

slow, cumbersome process. You can almost like, through

24:39

the account abstraction, put all of

24:42

the paperwork inside the token. It

24:44

creates providence for the asset, but also like

24:46

a receipt type of thing at the same

24:48

time. And then you don't have different copies

24:50

of paperwork all over different people's computers. And

24:52

you're dealing with like, seeing if that's real

24:55

or fake, or if it's the right one

24:57

and all these other things. Exactly.

25:00

To start off, like you have

25:02

that some paperwork to do, but once

25:04

you link it to the token, there,

25:06

right? And then once you link

25:08

it, you can create like an asset

25:10

explorer. There's the block explorer. I

25:13

think like in the near future, we'll

25:15

have like an asset explorer in which

25:17

you'll be able to search for assets,

25:19

asset tokens, and all the paperwork will

25:22

be there for you to analyze and

25:24

verify for yourself. Like where's the custody?

25:26

Who approved this, this asset? There

25:28

was like a committee like vote

25:30

behind it. So all these governance

25:32

that exists in the traditional finance

25:34

space is going to be like

25:36

decentralized and imbued within the token.

25:38

And that will bring such like

25:40

clarity for the token that I

25:43

think will allow for people across

25:45

country to start investing easily on

25:47

specific assets from other country. Why

25:49

is that important? As an American,

25:51

I don't understand the I do,

25:53

but I'm kind of asking a

25:55

question like why international people want

25:57

to be buying assets from from other

25:59

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at t-mobile.com/now. Welcome

32:22

to another round of boardroom or

32:24

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32:26

agile coach Maria. Let's go. First

32:28

question. You've spent two hours in

32:30

a team retro, but the only

32:32

input you've heard is Dave's. Boardroom

32:34

or Miroboard? Boardroom. In Miro, Dave

32:36

can't hog the space because everyone

32:38

can add thoughts anonymously, online at

32:40

the same time. Correct. Next, you

32:42

need the team to act on

32:44

feedback fast. So you turn all

32:47

those retro notes into Jira tasks.

32:49

Miro all the way. And I

32:51

can assign those tasks to teammates.

32:53

You're nailing this. Now you see

32:55

hundreds of sticky notes from the

32:57

retro. A real mess. But you

32:59

organize them into five themes in

33:01

just seconds. Miro, I basically get

33:03

back an entire hour when I

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use its AI tools for clustering.

33:08

And she's done it. For

33:10

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33:12

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33:14

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33:16

retro tools like private mode,

33:18

voting and two-way Jira syncing.

33:20

That's miro.com/retro now.

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