An example of digital bearer assets: Ripple
Assets issued on the Ripple network are examples of digital bearer assets. Parties deposit currencies (or any other asset) with ‘Gateways’ who then issue an equivalent amount of that asset as digital bearer assets on the Ripple network (the same way that the Bank of England would receive five pounds of gold and issue a five pound paper note). For example, an entity may deposit pounds with Bank A, who then issues BankA.Pounds to that entity's account on the Ripple network. These BankA.Pounds can then be freely traded on the network and then presented by any other person on the network (i.e. any bearer) to Bank A in return for ordinary pounds.
Bitcoin is not a digital bearer asset
Bitcoin, on the other hand, is not a digital bearer asset. Drawing from the example above - bitcoin is the gold, not the paper notes. The only right that a person holding bitcoin has, is to send those bitcoins to other addresses on the network. Holding bitcoins does not give that bitcoin holder any rights against the issuer of bitcoins (the bitcoin protocol) or to any other underlying asset.
Although bitcoin is extraordinary in many ways, it is just a plain asset whose value is determined intrinsically, rather than by reference to another underlying asset.
Ultimately, each digital asset needs to be analysed on a case by case basis to understand what that asset represents and what class of asset it falls into. If we perform this exercise for each digital asset, it will make it easier to explain how blockchains and smart contracts are and can be used, and what the legal implications will be from such use.
Note: Although notes issued by central banks today often still carry the promise to “pay the bearer the sum of X”, it is no longer backed by any underlying asset. Indeed, exchange into gold is no longer possible and today Bank of England notes can only be exchanged for other Bank of England notes of the same face value.
Assets issued on the Ripple network are examples of digital bearer assets. Parties deposit currencies (or any other asset) with ‘Gateways’ who then issue an equivalent amount of that asset as digital bearer assets on the Ripple network (the same way that the Bank of England would receive five pounds of gold and issue a five pound paper note). For example, an entity may deposit pounds with Bank A, who then issues BankA.Pounds to that entity's account on the Ripple network. These BankA.Pounds can then be freely traded on the network and then presented by any other person on the network (i.e. any bearer) to Bank A in return for ordinary pounds.
Bitcoin is not a digital bearer asset
Bitcoin, on the other hand, is not a digital bearer asset. Drawing from the example above - bitcoin is the gold, not the paper notes. The only right that a person holding bitcoin has, is to send those bitcoins to other addresses on the network. Holding bitcoins does not give that bitcoin holder any rights against the issuer of bitcoins (the bitcoin protocol) or to any other underlying asset.
Although bitcoin is extraordinary in many ways, it is just a plain asset whose value is determined intrinsically, rather than by reference to another underlying asset.
Ultimately, each digital asset needs to be analysed on a case by case basis to understand what that asset represents and what class of asset it falls into. If we perform this exercise for each digital asset, it will make it easier to explain how blockchains and smart contracts are and can be used, and what the legal implications will be from such use.
Note: Although notes issued by central banks today often still carry the promise to “pay the bearer the sum of X”, it is no longer backed by any underlying asset. Indeed, exchange into gold is no longer possible and today Bank of England notes can only be exchanged for other Bank of England notes of the same face value.
Pretty sure that the Storm is here.
Today is June 30th.
Done in [30]. Exactly [30]
Calendar split in 2
We did this “twice”. July 1-December 31 and January 1 - June 30.
Capitol Riots on January 6th Orthodox Christmas Eve
July 6th is the mirrored Orthodox Christmas Eve
January 7th is Orthodox Christmas Which is
1/7 Tomorrow is 7/1 Mirrored
Could the Gold and Silver markets reflect that today, June 30th would be the Orthodox Christmas Eve?
6/30 = 6+3 is 9
Tesla Code 3-6-9
Also it’s +2 months exactly from May 1, which was National Law and Order Day AND it’s the day that the Illuminati was born in America in 1776
From 7-1 add 2 months
You get September 1st
Which is 9-1
Mirror is 19
19 is the # for God
10 days of darkness from 9/1 to 9/11
10. 9/1 (9+1 = 10) and 9/11 (9+1+1 = 11)
1+0+1+0+1+1 is 4 Delta.
Also 4 is 2 of the Roman Numerals that symbolize ♊️
And the 2 Gemini are JFK and DJT
5/29/1917 and 6/14/1945
“These people are Stupid”
That quote means WAY MORE than you know
- 7Q7
Today is June 30th.
Done in [30]. Exactly [30]
Calendar split in 2
We did this “twice”. July 1-December 31 and January 1 - June 30.
Capitol Riots on January 6th Orthodox Christmas Eve
July 6th is the mirrored Orthodox Christmas Eve
January 7th is Orthodox Christmas Which is
1/7 Tomorrow is 7/1 Mirrored
Could the Gold and Silver markets reflect that today, June 30th would be the Orthodox Christmas Eve?
6/30 = 6+3 is 9
Tesla Code 3-6-9
Also it’s +2 months exactly from May 1, which was National Law and Order Day AND it’s the day that the Illuminati was born in America in 1776
From 7-1 add 2 months
You get September 1st
Which is 9-1
Mirror is 19
19 is the # for God
10 days of darkness from 9/1 to 9/11
10. 9/1 (9+1 = 10) and 9/11 (9+1+1 = 11)
1+0+1+0+1+1 is 4 Delta.
Also 4 is 2 of the Roman Numerals that symbolize ♊️
And the 2 Gemini are JFK and DJT
5/29/1917 and 6/14/1945
“These people are Stupid”
That quote means WAY MORE than you know
- 7Q7
https://ripplecoinnews.com/us-payment-giant-partners-with-nydig-to-give-crypto-exposure-to-its-24m-customers/
It begins
BIII
It begins
BIII
Ripple Coin News
US Payment Giant Partners with NYDIG to Give Crypto Exposure to its 24M Customers
Despite the sheer lack of regulatory framework in the US, the crypto market continues to grow as it frequently fetches critical institutional support from the corporate sector. The partnership between NRC and NYDIG: According to a recent article published…