XRP Update: Very Bullish, Japan CRYPTO FUND Long Hold, XDC & TradeTeq in Session, QNT Continues UP
This is your cryptocurrency update from japan im. So sorry, i cant get my camera to work tonight. I worked on it for quite a lot of time and i just cant get it to work. I think i have to restart my computer, but all of my tabs are in place, so i decided to just let it go for tonight were going to talk about the market. Is it strong 2.3 trillion up 1.5 in the last 24 hours, bitcoin nicely holding steady above 50, 000 and xrp when i was getting ready, was hitting a dollar 38, its backed off a little bit down into the dollar 35.36 range, but still up 6.29 percent. The strong movers in the top 100, those three are omg up: 23 quant up 16 at 323., unbelievable and third, respectively ftx token up 16, its a native token of a crypto derivatives trading platform called ftx, the bitcoin dominance sitting at 41 yeah. I still just cant believe that those days of uh that are so impressed into my mind back in 2017 and 18, when bitcoin was the 70 80 of the dominance in this market, and those days are just over were slightly bullish and you can see that were At a level that we originally hit back in may on the 13th to be exact, so theres a very interesting movement happening on twitter, it is called the global bitcoin day september, 7th thats, a tuesday. That is when everyone is being told to buy bitcoin, whether its five dollars a hundred dollars a thousand dollars whatever you like.
The the message here is to encourage the no bitcoin friends to become bitcoiners. Even michael saylor is out there pumping it hard on twitter. All right, if we take a look at fiat leak, we can see that xrp is wow great moving it a dollar 37. Wonderful, so yeah. This range also is something that xrp visited back at the end of may. Much of the activity is coming from the united states and south korea, and if you really want an accurate place to track and break down that volume, you want to use crypto compare here. Ive got it set up so that we can see that volume by exchange with tether binance completely dominates. They have 42 percent of that market share and when you have the xrp volume by currency and if we look at the fiat currency with sovereign currency, the korean wan is number one at 11, followed by the u.s dollar at five percent in the japanese yen at 4.7, so sticking with xrp. You know we learned last july that sbi holdings in japan was going to sell the first ever crypto asset fund in this country, and now we have learned that were very close to seeing that happen. In reality, they will begin to sell this fund in november theyre, going to target wealthy individuals and its to secure a yield aiming at at least 10 percent over a three to five year period. So this is so important in two different ways: one its a huge return since japan has had negative interest rates for years i mean you just cant even come close to this kind of return within the legacy banking system, and the second point that is so interesting Is that uh theyre going to use a basket of currencies, bitcoin ethereum, xrp, bitcoin, cash and litecoin to start with, but customers are going to be asked to buy a fixed rate amount every month for a three to five year time frame, so i think theyll probably Have a couple of different funds different options, but this is an ongoing purchase and they expect it to be in the tens of billions of yen, so thats going to be at least a billion us dollars.
This is really really going to be wonderful. Now let me just share with you a tweet i put out there. It was when i asked the company everest that had this slide in a presentation that they put together in 2017, they put together this for a project when they were exploring interledger java for the sibo. Cybos is a annual event that takes place for swift and it was part of the hyperledger foundation project in which everest was working together with ripple and ntt data. So i know this slide has really made the rounds and it looks pretty impressive, but when i am checking on everest, which i do often just to see where their focus is theyve gone, really heavy into microsoft, oracle, salesforce, sap and adobe really focusing on ai and Software management in a cloud solution, kind of a crm, a customer relationship management program, theres no mention of any blockchain projects, so i just wanted to ask them you know: is this still relevant to anything that theyre working on and is this still in play? I hope that they respond back to me because um i would love to get an answer on that all right, um yeah. I just think oh im on the everest website here, yeah, you can check out their partners and you can check out uh what theyre up to and its quite clear that uh, their focus has has shifted, okay, im really being asked. Often where is my xdc video? Well, im down a rabbit, hole and ill, tell you where that rabbit hole has led, and you can pick up any of this uh this research thus far and you can and you can run with it.
What i can tell you is that andre kasterman here he is the chef he is the deal maker. He is the guy who is orchestrating a lot hes a fintech expert. He has spent 24 years at swift hes, an advisor for zinfande hes on many boards, and i can just tell you hes cooking something up here. He is the chair of this fintech group for trade, finance, itfa theres, a lot of big players like r3 and finestra. Their members and zinfan just joined, and that was pretty big news yeah and its really interesting – to see that this mario bonke also featured the fact that zinfin is part of that membership now and also too. This is where this rabbit hole starts to get deep, so they have this article about trade, tech, trade, tech signed a deal with microsoft to automate trade finance. Andre kasterman is on the board of trade tech as a non exec position, but on the board, its a company thats built for banks to process these invoices in trade finance, bringing them to a digital solution and were talking about you – know: 1.5 billion uh dollars being Processed so its a big chunk of of the trade finance sector and yeah theyre doing it through their technology and when you come down here, zinfande, as you know, is integrated with microsoft, azure cloud and they have that smart contract capability. So its a perfect solution and then weve got on october, 6th and 7th coming up.
Trade, tech and xdc network are going to join a session together, talking digital asset distribution on how it can be taken advantage of for this new technology based trade practice. And you see that ive got some of the ingredients and things are being baked. Weve got some cooking going on, but i just dont know what the final project is. You can see here that the smart contract technology for zinfande is highlighted as well as that session. That will take place so thats as far as ive gotten. I need to keep doing more research if you can take those ingredients and tell me exactly what is being cooked here. That would be great. So until i have a little bit more information, some more ingredients maybe be able to look inside that oven. I will just keep researching so i know a lot of people are asking wheres that video wheres, that video all right im, jumping to the fluff, to tell you that japan is going to get some new new money yeah, even though they want to go cash. Us were still getting some new money in terms of designs. This is this: is a beautiful uh kind of what are they calling it uh? They call it a bi, color theyre, calling it a. What are they calling it here, theyre calling it its kind of got the two colors which are um, i think pretty handsome. This is the its kind of like five bucks, its but its in a coin, its a its a very popular uh coin to collect for kids with banks.
You know this is this is like the coin that kids want to put into their piggy bank, and then we are going to get some more notes too. These are going to have some first ever japan was the first to do holograms on their bills, but this is going to be even a more advanced version of a 3d hologram and they really are, i guess, jumping off off the bill when you look at them And you give it this little bit of a twist. Here is a detail where the face will actually turn and look at you. So, depending on how you position or move that bill in front of you, it appears uh that the face is turning and looking right at you. A little creepy here is the 5 000 yen. This is like a 50 bill. Its i think beautiful here is that special 3d hologram in a strip right here, yeah im, excited to see this. We have the hanging uh wisteria and then the last one is the 1 000 yen thats like a 10 bill, and of course it has. The famous wood block print by hoksai, the great wave of kanagawa, so it is right there you see the special 3d hologram, oh its kind of interesting that were that the money is being redesigned this late stage in just before everything is going to go cashless. Maybe these are the going to be the last designed bills in japan very possible, all right, everybody a little bit of fun technology.
Listen to this one Music! How do they do that avatarify? App, oh its funny, so this is this is the this is the gentleman whose face is appearing on the new on the new bill in japan? It cracks me up all right. Everybody do take care sayonara for now.