Danny

One of the things the video emphasizes, is trust. True trustless cryptocurrencies or digital tokens, eliminate the need to trust a company, auditor, bank or humans in general. A private network without tokens or smart contracts however, does not eliminate that need and therefore isn't trustless, nor decentralised. I personally believe private, centralised networks ultimately can't and won't be trusted. Hasn't history shown that? You said MANY of the upcoming developments will use some type of a digital token. That's exactly what I think and I believe the majority of those tokens and cryptocurrencies will be trustless, decentralised and accessible to the public. The law of supply and demand will affect prices, causing the entire crypto market to boom like never before, even if that market is comprised of only 100 or 200 decentralised tokens and cryptocurrencies with a real use case. Breanne Madigan (Global Institutional Markets @Ripple), expects three evolving trends to fuel what she calls the next major push for the digital asset market. She projects that growing institutional comfort level with digital asset use cases along with increased regulatory clarity in the U.S. and the next Bitcoin halving by May of 2020 will all lead to the next large adoption cycle (https://ripple.com/insights/2020-the-year-of-the-digital-asset/).

True, to consider stocks, bonds, real estate, and gold to be cryptocurrencies, is odd, but I was referring to the 'digital representation' of it. In order to store a digital representation of something (stock, bond, house, precious metal etc.) on the blockchain, I would need a digital token or a cryptocurrency, right?

I personally don't read that Jay Biancamano does NOT expect crypto to blow up again. Correct me if I'm wrong, but digital representations of traditional assets, like stocks, bonds and gold, are cryptocurrencies, aren't they? How big the crypto market can become, is realistically discussed in the article below. "The World Economic Forum has predicted that around 10% of the world’s GDP will be held in the form of tokenized assets by 2027. If we took 2017’s global GDP as a reference point, which amounted to 75 trillion US Dollars, then 10% of that would be 7.5 trillion US Dollars. If we factor inflation into that equation, as well as GDP growth in general, then the market for tokenized assets is looking to be immense by 2027, at least according to the World Economic Forum." https://blog.blockport.io/the-multi-trillion-dollar-potential-of-cryptocurrency/

Jay Biancamano, head of digital assets of State Street, a large custody bank holding more than $30 trillion, said "We're seeing assets start to become digitized. Trickle, trickle, trickle—and then we believe there will be a flood." He said that a few months ago. If that flood is going to take place, I believe it will outperform the crypto boom of 2017. https://fortune.com/2019/10/02/bank-blockchain-state-street-digital-assets/

Deutsche Bank's adjusted vision statement does emphasize innovation and going digital. Their ambition is to be a leader in that area. https://www.db.com/company/en/digitalisation.htm?kid=digitalisation.redirect-en.shortcut @cryptoxrp Ok interessant punt.

Will banks in Germany be holding crypto in 2020? What do you think? Are you german?

@cryptoxrp I did read about it, sounds interesting.

Is SAGA trustless? @CryptoGerrie I seriously doubt it. Saga believes that without accountability, there can be no trust. They say banking partners provide daily 100% transparent attestations about the reserve status. True 'trustless' currencies however, eliminate the counterparty risk of needing to trust a company, auditor, bank or humans in general. Decentralised? I think SGA is far from decentralised. Saga says it's developing a delegate-based governance structure to take and implement decisions. It also says it will be governed by delegates of SGA holders who will be benefiting from the efficiency and expertise enabled by a "centralised governor whilst upholding SGA holders their governance prerogative". Does it make pre-funding unneeded? I'm by no means an expert, so please correct me if I'm wrong, but from what I've read, the currencies backing the SGA and the SGA itself are two different things and they're not in the same location, which implies you're going to face counterparty risk (which requires pre-funding). Unlike XRP, you're transferring liability instead of value. Saga acknowledges that SGA does expose holders to counterparty risk and the risk that the SDR itself will lose value against other units of account. Is it backed by something different than fiat? Fiat itself is not backed by anything, so governments can print lots of it, deliberately inflating the money supply and destroying purchasing power. Although Saga says SGA is not a stablecoin, it is pegged to the SDR which is a basket of 5 fiat currencies: dollar (42%), euro (31%), renminbi (11%), pound sterling (8%) and yen (8%). Interest will consist of Saga tokens, I assume. Inflation and hyperinflation will directly impact SGA's value in a negative way and you and I know inflation wasn't invented yesterday. Thomas Jefferson already warned about it more than 200 years ago when he said: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered." Is a 100% reserve ratio guaranteed? Saga's policy is based on a variable fractional fiat reserve. It will start with a 100% reserve ratio (100% of the value of all tokens are backed up in the reserve), but when its price increases, the reserve ratio will be reduced. As more tokens are purchased, Saga's model takes this as an indication of increased trust, which, Saga says, allows the reserve ratio to be reduced. Will I be owning the key of it? My main concern is bail-ins. If I purchase SGAs, keep them in my bank account and the bank decides to do a bail-in, will I lose SGAs? Sources: https://static1.squarespace.com/static/564100e0e4b08c9445a5fc5d/t/5c6cc4d8eef1a14df8ff2ac1/1550632158845/Copy+of+Saga+-+PwC+Stablecoin+QUESTIONNAIRE.pdf https://www.saga.org/static/files/p/--7e72282a-5330-4f58-834b-8d8051cb5f16_Saga%2BGovernance%2BModel%2BDecember%2B2019.pdf

That may be the biggest unanswered question. I remember Carney said there needs to be something the US can devalue its dollar against. Assuming SAGA will be backed by a basket of currencies, including the dollar, SAGA will likely devalue as soon as the dollar devalues against it, which is why I personally believe SHC has to be something fully independent and outside of fiat (Carney did speak of 'new finance'). I'm aware that XRP's main function is a bridge, but I don't see why it eventually can't become the SHC.

Is SAGA trustless? Decentralised? Does it make pre-funding unneeded? Does it transfer value instead of liability? Is it backed by something different than fiat? Will it bear non-fiat interest? Is a 100% reserve ratio guaranteed? Will I be owning the key of it? I think many of these questions can be answered no, which is why I don't view SAGA as an XRP competitor. I also don't think SAGA will be the Synthetic Hegemonic Currency Mark Carney (BoE) talked about.

State Street, a large custody bank which holds more than $30 trillion, says digital assets will trickle, trickle, then flood. https://fortune.com/2019/10/02/bank-blockchain-state-street-digital-assets/

I think it's her dad. Traditionally, the groom is expected to pay a dowry to the family, in Thai baht as @AllZerps mentioned. Mom being on the moon, confirms the dowry has been paid. Edit: the bride however isn't Thai, she seems Indian, which could indicate, I'm speculating here, India has a corridor.

@GiddyUp the video below reminded me of a lot of what you mentioned.

We should be careful and discerning, I fully agree with you @ZzZerper However, I honestly can't say that @CryptoEri proudly and/or blindly hypes stuff. The article she referred to, wasn't written by her. We all make mistakes and learn, including myself.

Hi Eri, I did contact him, Tariq Alrifai, a 2nd time yesterday and this is what he replied: Upon review of the article, I noticed that we made an error and said that Swift was testing Ripple, when in fact, the article discusses Swift testing blockchain and not Ripple specifically. We have notified the newspaper of this error.