David Schwartz Just Revealed Something About XRP Nobody Was Expecting

Hey, it's Kamilah Stevenson, and around here we talk wealth. This is gonna be a little different. I'm in my hotel, I'm at the XRP Las Vegas, and, um, we're at the start of day 2. But I wanted to share some things that stood out to me for day 1, and I said I'd keep you guys involved. And listen, I'm going to be on live Monday to talk a little bit more about, uh, some, some some ideas that I'm having in my head. Um, you know, I'm always, I'm always paying attention and I'm, I'm taking notes. And sometimes I don't say much, um, when I'm in certain crowds, you know, unless someone's coming up to me or whatever. But I'm always just taking notes of everything. And I've even had some time to do even a little bit more research. I'm meeting some amazing people here. When I tell you the XRP community is on point, like a family. If you've never been, you gotta go next time. All right, let me jump into this because I want to share a few things. I have to get going because this is day 2 and they're about to start. So I wanted to share 3 things with you that I feel are fresh in my mind, uh, still, that I think stood out to me. So the takeaway for day 1, I got a chance to see Brad Garlinghouse and David Schwartz yesterday, um, and that was again day one of the conference. So David Schwartz got on the stage and, uh, he told a story that I've never heard him tell before, but they asked him to share one of the stories from his past that he thought was relevant. And he talked about how back in the day when he was building XRP Ledger, um, before any of it was what it, what it is today, David had a team and they were working on it, and he brought in, he said, a guy named Dan Kaminsky to review the consensus design, right? And so now, if you don't know who Dan Kaminsky is, uh, or was, he was a legendary security researcher. So he, um, I think at one point he discovered a DNS bug that broke the entire internet. So he is one of the smartest minds in security, right? So he said him and his team was actually worried about the fact that XRP Ledger might have some fundamental flaws and that they just didn't get a chance to see yet. And y'all know I talk a lot about the ledger and how they built it, but I didn't know the background of this story. So he said he spent dozens of hours going over the design of XRP Ledger, and, um, and then when he came back for his review he told them that he could not— Dan told them that he could not find any obvious severe problems with the ledger. Again, David was a little afraid that he overlooked something and that it would just be— it just wouldn't be a thing. Like, it's like, okay y'all, we done, we— it didn't work, you know. And so then on top of that, David said that later— David said they later had a Nobel Prize-winning economist also review the design from an economic perspective. I'm telling you this because I didn't understand the scrutiny that he went through for the XRPL. And of course, that guy couldn't find anything. So he had two of the most expert minds in two different fields independently reviewing the architecture of the XRP Ledger in the earliest days, and neither of them could break it. So that is the foundation of what you are holding when you hold XRP. And I love to just hear the background on stuff like this. So, um, I just wanted to let you know that the technology was stress tested at the highest level by people who had every reason to find problems, um, that they could not find. And so that's why I keep telling you the XRP Ledger was built very differently, and the proof is, is there's added proof into who has tried to break it. And you guys know I've already, um, well, I got a video coming out about quantum computing and exactly what's going on with that. And I'm gonna lay out exactly what Ripple exposed about their plan for protecting the ledger with— from protecting the ledger from quantum computing and/or quantum computers, and how, uh, they were very intentional about how they built the ledger from day one. And I'm gonna explain in that video why that is the case, okay? So I have something that I'll be breaking down about that. Now, takeaway 2 Brad Garlinghouse gave a deadline for the Clarity Act. Now y'all know we asking about the Clarity Act and people keep asking about the Clarity Act. And you know, he had to encourage the XRP community, um, say, you know, same thing most of us have been saying, of course, which is that XRP has clarity, all right? It won the court case, all right, in the United States. So it is a little different, you know. But anyway, he came on, he, uh, he basically said that if we don't— by the end of what, May, uh, or the third week in May, he said specifically the third week of May, he feels like that's the deadline. He says if the Clarity Act does not get out of the Senate Banking Committee, committee, by the end of the third week in May, he believes that the bill stalls and we are in real trouble for getting it through this Congress. Okay. But again, he did encourage and he reminded the room that XRP has clarity. A federal judge ruled in her opinion that XRP in itself is not a security, and that ruling stands. And so, uh, Ripple is supporting the Clarity Act because it's good for the industry overall, but not because XRP needs it. You know, XRP has fought its own painful fight for clarity, and it won that fight already. All right, so right now we're just watching the Senate Banking Committee over the next few weeks. Don't let the noise shake out your conviction about what you're holding. You know, the regulatory clarity for XRP specifically is locked in. The Clarity Act is about the broader industry. Okay, those are two different things. And what Brad did is he did make that distinction very crystal clear uh, yesterday. And I think a lot of people in the community just needed to hear that because that's the one question they keep asking. And sorry if this video is a little lopsided. I got the— listen, I was just trying to get this out. All right, now, uh, takeaway 3: I did get a chance to hear Greg Kidd from, from Vast Bank and The Future of Money. And I think it's one of the most underreported conversations, um, and so I wanted to let you know exactly what I took from it and what happened. So, um, again, Greg, uh, Kiat runs Vast Bank. So he was talking about tokenized deposits and why they are different from stablecoins and different from central bank digital currencies. So what he was saying was that there are basically 3 paths for the future of money: central banks doing CBDCs, uh, which is essentially, uh, he— what he called it, like Big Brother controlling everything, And then you got stablecoins, which run mostly without identity and compliance. And then you have tokenized deposits, which are real dollars that are FDIC insured but living on chain. And what he said is this. He said, right now, when you pay somebody at a different bank, there's a whole clearing and settlement process that happens between banks because every bank has its own ledger. And I talked about this. Recently, but I just want to share it because it came out his own mouth, and I'm kind of reporting to you exactly, uh, some of the information that came out yesterday. So anyway, because every bank has its own ledger, uh, there is no single master ledger, okay? But with tokenized deposits, there is one master ledger, just like there is, uh, for any blockchain, for example. So which means that money Uh, money moves from one address to another address 24/7, instantly, without cost. The whole thing is moving money instantaneously. Is that a word? Instantaneously? I think so, right? Y'all know how I am with words, right? Instant or instantly, okay? There's different versions of that. Y'all get what I'm saying. But he said, uh, in a world where 1 or 2% of GDP is currently spent on payments, payments become a public good and the price should approach zero, which it should. And so that is the future, uh, being built right now. And the rails that is being built on are the kind of infrastructure that XRP, of course, and the XRP Ledger was designed for. So when I tell you the need and the necessity and the use case for XRP, the Ledger is tremendous. And Greg also said something else. He said that this is not just a technological story, okay? This is not just a technology story. It is a sociological, uh, sociological and political story. I'm trying to remember exactly the way he phrased it so I could give it to you straight. So he's saying it's not just about tech, it's about social and political, um, aspects. It has it embedded into the entire system, right? It is the democratization of access. Anybody can hold money, anybody can transact, anybody can have access to financial infrastructure, which is exactly what we've been talking about in this community for a very long time. But again, you know, just hearing it and, and hearing things laid out and getting some of the details of, you know, the people who are, um, inside of, of this system is very refreshing. But more than that, being able to see everybody face to face. When I tell y'all, it is amazing. So anyway, I'm about to go. I'm getting ready for day 2. I'm excited about it. I'm about to go get my coffee though, right? I got to get a little caffeine. I haven't had coffee in a, um, I had some yesterday, but I haven't been drinking a lot of it. I'm more of a tea person right now, but man, I need a little coffee, uh, for to just to stay engaged because, uh, yeah, it's, it's a lot. It's a lot happening at once, and I just want to be like fully present. And so A little caffeine is going to help me get there. All right, so again, the 3 takeaways from XRP Las Vegas: the XRPL was stress tested by the smartest people in security and economics, and they said they could not break it. Uh, you know, so that's a great thing. And then the Clarity Act has a deadline at the end of the 3rd week in May, and XRP itself already has the clarity it needs. And then the future of money is being rebuilt on infrastructure that looks exactly like what XRP was designed for. Y'all know, Okay, um, so got more sessions to get into and I'm going to jump back into them. Listen, also I just want to share this, that if you are looking for your own personal endeavors, you want a game plan, you want to try to understand what this means for you and your personal finance, I got links in the description that can, um, help you to get just that done. All right, my clarity calls, we have been diving in and helping people get their entire structure together. So I will put the link in the description for that. I always put the iTrust Capital link in the description. If you hold XRP, you definitely want to hold it in a tax-free account or put a portion in a tax-free account. And that's what I've been doing. I also have gold and silver in that same account. Why? Because when this thing appreciates, and it will, the fundamentals will be represented in the price at some point. And most people who are discouraged are only looking at the price. This is infrastructure, y'all. I keep saying it time and time again, there will be a day where XRP gets repriced. All right, there is a supply and demand, um, even if it's— even if you feel like it's in slow motion, waiting is always the hardest part. But wait for it, because those that wait are going to see a great harvest. So anyway, um, iTrust Capital is one of the accounts that I use to make sure that when this thing plays out, I do not have to give a portion of mine to the government. And hopefully you're structuring yours the same way. They are also rolling out stocks and ETFs, yes, during the summertime. And I was able to see them too, and I was, um, just— I mean, man, I, I was able to see so many people, it's amazing. So anyway, the link is in the description for that. And like I said, I'm rocking my XRP shirt, um, today. I've been rocking my XRP shirt all weekend and got a chance to talk to Ripple's team too, by the way. I sat down in their booth and got a chance to really talk to them. I know some of the people on their team and they are rock stars, I'm telling y'all, and so kind as, as well. All right, y'all, I'm out for the day. And as always, I want you to stay wise, stay wealthy, and I will see you in the next video. Peace out and enjoy your day.