This place will destroy the banks - Genesis Block Grand Opening Livestream
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This place will destroy the banks - Genesis Block Grand Opening Livestream
0:00 Introduction
4:00 John Keh (CMO of Genesis Block) Why be optimistic?
9:02 Clement Ip (CEO of Genesis Block)
11:02 Is ph...
This place will destroy the banks - Genesis Block Grand Opening Livestream
0:00 Introduction
4:00 John Keh (CMO of Genesis Block) Why be optimistic?
9:02 Clement Ip (CEO of Genesis Block)
11:02 Is physical presence a big advantage?
13:35 How far do you see this market going?
17:16 Wincent Hung (Founder and Director of Genesis Block)
20:04 Mainstream media’s reception to Bitcoin?
21:41 What should people know about Bitcoin?
22:28 Are people concerned about potential inflation?
25:02 James Anderson: What is RioDeFi? Updates?
29:28 Kevin Tai (Co-founder of Linear Finance): What is Linear?
33:17 What’s the broad future for Linear?
36:18 Do you see Altcoin growing more?
37:50 What projects are you looking up now?
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AI Analysis
The grand opening of Genesis Block's new physical Bitcoin center in Hong Kong, strategically located directly opposite a traditional bank, marks a significant moment for cryptocurrency adoption. This event symbolizes the increasing mainstream acceptance of digital assets, as the space aims to make crypto more accessible and understandable to both the general public and professional investors, directly challenging the established financial system.
Here's a breakdown of the key insights and discussions from the event:
* Genesis Block's New Physical Presence: * Genesis Block's new Bitcoin center in Tsim Sha Tsui (TST), a bustling Hong Kong district, is strategically placed directly opposite Hang Seng Bank. This move, as Clement Ip, CEO of Genesis Block, points out, symbolizes the "new bank versus the old bank," sending a strong message that crypto is now mainstream and no longer "hiding in the buildings." * The center is on the ground floor, unlike their previous upstairs location, enhancing visibility and public accessibility. * It features 24/7 ATMs that allow users to buy and sell Bitcoin, Ethereum, Tether, and other cryptocurrencies, facilitating easy cash-in and cash-out. * Joanne, Head of Coin Here, is rapidly expanding the ATM network, with over 30 locations already operational and plans for 10-15 more in the next two months, a significant feat given Hong Kong's conservative stance. * Clement Ip believes this physical presence is vital for building trust among Hong Kong residents, who are traditionally more inclined towards real estate and stocks. It allows them to interact with real people and experiment with small crypto investments, like $100 USD. * The center also aims to educate people about the nature of money and Bitcoin, with Clement confidently stating that fiat money is "dog shit" and Bitcoin is the future. They even plan events to explain crypto basics and offer small amounts of Bitcoin to new users.
* Market Sentiment & Adoption: * The current crypto bull market is generating significant excitement and profits, with many in the crypto space seeing 2-3x returns on their investments. * A notable difference from the 2017 bull run, as Clement Ip observes, is the shift in investor demographics. While 2017 was characterized by retail investors and ICO booms, Genesis Block's OTC desk now primarily serves "professional people" – barristers, lawyers, and accounting partners – who already understand Bitcoin and mainly seek assistance with wallet setup. * Institutional adoption is also growing, exemplified by Meitu, a Hong Kong-listed company, purchasing Bitcoin, which Clement sees as a crucial step for broader corporate engagement. * The typical investor journey, according to Clement, starts with Bitcoin, progresses to Ethereum after gaining understanding, and then expands into the burgeoning DeFi and NFT narratives. * Wincent Hung, Founder and Director of Genesis Block, notes that mainstream media in Hong Kong is increasing its coverage of crypto, though he believes many journalists lack a deep understanding. However, he sees an improvement in the quality of questions being asked by the media, indicating a growing general comprehension of the space. * Despite upcoming regulations for crypto exchanges in Hong Kong, Wincent highlights that OTC services and ATMs are currently exempt, allowing for continued rapid expansion of their physical network. * Leslie from Genesis Block Ventures adds that the bull market is attracting "smarter guys" who were previously cautious, now seeking to raise funds, signaling a maturing and more robust project landscape.
* The Threat of Inflation & Fiat: * Wincent Hung explains that Hong Kong's currency peg to the US dollar makes it vulnerable to US financial policies, especially the extensive money printing. * He observes that people are increasingly concerned about massive money printing, linking it directly to rising inflation and increased daily living costs, such as bus fare hikes despite high unemployment rates and stagnant salaries. * The recent surge in the 10-year US bond yield to 1.7% is seen by Wincent as a clear market signal of impending inflation, which he predicts could lead to a "disaster" if rates reach 2-3%. * Genesis Block's core message is that Bitcoin serves as "your own bank," offering individuals control over their assets and protection against the inflationary effects of unlimited fiat money printing.
* RioDeFi and Bridging TradFi & DeFi: * James Anderson, from RioDeFi, outlines their mission to accelerate digital asset adoption by connecting blockchain systems with traditional financial institutions. * RioChain, built on Parity's substrate, is interoperable with the Polkadot ecosystem, and RioDeFi is actively bidding for parachain slots on both Polkadot and Kusama networks. * James highlights the exciting potential of DeFi's high yields, particularly on stablecoins (e.g., 20%+ on Curve Finance), which drastically outperform traditional bank savings accounts yielding a paltry 0.05%. He also emphasizes the transparency of capital deployment in crypto. * RioDeFi supports innovative projects on RioChain, including Labs, which tokenizes real estate to enable fractional property ownership for as little as $100, and Leprechaun, a gamified DeFi platform for prediction markets. * James sees a future where NFTs offer utility beyond just art, envisioning them for airdrops, staking rewards, or even representing real-world assets like a timeshare backed by an NFT. * He firmly believes that the current period is an opportune time for building new projects in the crypto space.
* Linear Finance and Synthetic Assets: * Kevin Tai, co-founder of Linear Finance, describes their protocol as a decentralized, cross-chain compatible platform for synthetic assets. This means users can stake Linear tokens to generate stablecoins and then trade on the price of various assets without actually owning them. * A key advantage of Linear Finance is its low transaction costs ($1-2 per transaction) and high speed, thanks to being built on Binance Smart Chain (BSC). * Currently, popular synthetic assets include crypto assets (like BNB and LINK), as well as gold and silver. Kevin noted a surge in synthetic silver trading during the "Wall Street Bets" frenzy. * Linear Finance plans to expand its offerings significantly, introducing synthetic foreign currencies, stocks (e.g., NASDAQ-listed companies like Tesla), and a broader range of ETFs within the next few months. * Kevin is particularly enthusiastic about "thematic ETFs" that will replicate real-world financial themes such as coffee, biotech, robotics, or automated cars, making these diverse investment options accessible globally, especially for those without direct access to traditional markets. * He believes synthetic assets will carve out a significant niche within DeFi by offering broad market exposure, quick entry/exit for portfolios, and enabling cross-asset swaps, all with fair and rapidly updated pricing.
* Genesis Block Ventures' Investment Insights: * Leslie from Genesis Block Ventures notes that while the current bull market is great for new projects and attracting capital, the influx of less experienced investors may also introduce some risks. * He is particularly excited by the improved quality of projects, observing that previously conservative and "smarter" individuals are now actively seeking to raise funds, leading to more robust proposals. * Leslie highlights the evolution of DeFi, stating that unlike 2018 when crypto was primarily about exchanges, projects like Compound, Aave, and Yearn Finance now demonstrate "real use cases," which he appreciates as a "real user." * Genesis Block Ventures is actively exploring new NFT projects from various regions, as well as undervalued existing projects from 2019-2020 that have strong teams. * As an example, Leslie mentions Astro Tools, an innovative project built on PancakeSwap with a surprisingly low market cap of $5 million. Genesis Block Ventures is engaging with Astro Tools to help them focus on the booming BSC ecosystem and is considering investing in their tokens to help them gain wider recognition.
Transcript
Oh All right, all right, we're officially live so welcome back guys to another episode of box mining This is so chaotic. This is the grand opening. Hi guys the grand opening of Genesis block in one of the most populated most hottest areas in Hong Kong right now in chimzha chui you can see everything's packed. It's a grand opening event So we're giving you guys the first class ticket. I label this as This place is gonna destroy the banks, right? So what's behind us John? So right across the stre...
Oh All right, all right, we're officially live so welcome back guys to another episode of box mining This is so chaotic. This is the grand opening. Hi guys the grand opening of Genesis block in one of the most populated most hottest areas in Hong Kong right now in chimzha chui you can see everything's packed. It's a grand opening event So we're giving you guys the first class ticket. I label this as This place is gonna destroy the banks, right? So what's behind us John? So right across the street, we have Hang Seng Bank, which is very appropriate considering You know what we're trying to do and it's also convenient So if you want to pull out money from Hang Seng come over here buy your Bitcoin Yeah, as you can tell it's it's really chaotic right now Really good turnout Yeah, it's pretty much like full of people. We're trying to get a space But I guess a lot of people don't realize that the camera is here. So a lot of people want drinks, you know I think a lot of people They don't realize that you know, like I think I think it's been a long time in quarantine. Everyone's wearing masks I mean, it's a very packed room. So a lot of people want drinks right now and we're gonna all have a nice great time You know, John. Yeah. Yeah, I mean, it's been a crazy year. I mean a crazy month let alone the year But I mean, it's I think I'm gonna go for it. Yeah, yeah, yeah, it's It's so loud here I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I Thank you. Thank you. Thank you. Okay. Okay. We're good. We're good. Yeah. So this is Joanne. Hey, hi guys. She's my right hand woman and the head of corn here. Yeah. I'm trying to expand a coin here's network. So in a Hong Kong, we have over like 35 locations. So go to corn here.io. Yeah. To check out our locations. Yeah. Okay. Okay. Sure, sure, sure, sure. Okay. Okay. Okay. So I hope you guys heard Joanne's shill. Very, very smart woman. I mean, I saw you building a lot of ATMs. Like literally just like getting the ATM network up. Was it hard? Like, was it hard to get all those ATMs and you know, where are they going? Um, it's a bit hard in Hong Kong because it's not very popular in Hong Kong. So, but I think now because of the price, people are starting to accepting it. So, yeah, so it's much more... It's preemptive strike. It's preemptive strike. Excellent. Excellent. Yeah, I think Joanne's a little bit embarrassed, but yeah, good job, man. Let's keep going. All right. Yeah, today was just chaotic. It was pure chaos. So let me just try to make sure that video feed is fine. I tried to move everything a little bit here. He's having fun. How's it going, Jin? Yeah, Jin's one of our new joints. Yeah. Jin's like a full-time bartender now. Jin, come on, come on, come on. Come on, come on, come on. Say hi, say hi, say hi. They want to take photos anyway. So he's doing full-time like... He's helping us like with operations. He's a man of many times. And he supplied us with drinks. That's the most important one. He's GB Swiss Army knife. He's also Korean, so Charles loves him. Oh, no wonder, no wonder. No wonder. Yeah. All right, so let's get, let's get, do you want to get Winston on? Yeah, I'll get Winston on. All right, let's get Winston on. So... Oh my God, it is insane, guys. I have not done this for ages. Um... The... Uh, Elder Zero says pick, um, you guys shrunk AF. Yeah, this is a bar right here. I'll show you guys what's happening. This is a bar. Um, people are taking photos over here. Um, John's in the back trying to find Winston. Uh... It is insane over here, guys. So yeah, so we got... Um, yeah, that's pretty much it. So if you guys want to buy Bitcoin, you know, you look at that sign over there. That's where you got to buy Bitcoin. Um, you get a free drink, apparently. Maybe, maybe not. But... Yeah, let's look at the, uh, photos, guys. Thank you guys so much for... Coming in today. Uh, definitely... I have not done this for ages. I literally have not done this. Uh, livestream stuff. It took me, like, literally 20 minutes to set this up. It's super loud, but... You know, hopefully, hopefully you guys are having a good time here. So let's... Let's get back into action. So we're gonna find Winston. Um... Architects need an invitation to join this party. No, no. Uh, not at all. Apparently, you can just walk in. Uh, very central location in Hong Kong over here. So... That's the beauty of it. That's the beauty of it, right? And I think today is super busy because all the media was here before as well. So, like, 4.30 to 5 was Hong Kong traditional media. Like, you get, uh, all the news guys and stuff. Because, like, it's a very big location anyways, right? So you have, like, a huge amount of people here. And I think it's cool. So I'll show you guys that. That green logo there is the bank logo. That's HSBC. Not HSBC. That's Changseng Bank. Which is a subsidiary of HSBC in Hong Kong. So, like, literally we're right next to the bank. We're, like, the new bank versus the old bank here. Which is fine. Um, Shanky's, uh, Shock Desert. Michael, this looks super. Man, it is, it is getting hot in here too. I think, like, it's not a, it's not a big location. But, yeah, it's, uh, it's getting kind of hot. I didn't find Vincent, but I pretty mean Clement. Oh, yes, Clement. Hello, hello, hello. Hello, Mr. Clement F. Hi, hi, hi. How are you? How are you feeling? So, okay, we have the live stream set up here. Yep. The comments are coming here. Got it. So you can check out your own video. You can check out your handsome face here. Got it. How are you, man? Congratulations. Thank you, thank you. Um, yeah, feeling great. I mean, uh, it's very satisfying to have another physical store. Bitcoin center in TST. Um, TST is, like, another part of, um, Hong Kong. I mean, we were in Wanchai already, which is, like, the heart of Hong Kong Island. And TST and Kowloon side is, like, the bestiest place in Hong Kong. And the goal is really to show Bitcoin to the moon. Like, Hong Kong dollars, US dollars, fiat money is just dog shit. And we believe Bitcoin is the future. Blockchain is the future. And, you know, the more people know about Bitcoin, the better. Uh, we think, uh, there's still a lot of people in Hong Kong, uh, that don't know how this works. Uh, we're still gonna continue. Hopefully, once everyone gets the injection, we're gonna continue to do our events. And to explain to people what money is and what Bitcoin is and give them their first, like, $10. I think so. I think, like, in Hong Kong, usually people don't, especially normies, right? Because, like, you know, I, I, I stood outside there, watch people, like, they don't understand what's happening here, right? They still don't understand, but having a physical presence, you know, now they can say, oh, like, they can get money out. I think that's kind of a big advantage, right? Now they can get physical money or they can bring money here or they can get, like, transfers. They, they, they can understand a little bit more that there's a lot of liquidity in crypto. I think that's a, that's something that most people don't think, like, oh, it's a, it's a bubble. And it's like, no one's gonna get their money out. And I think that's changing. Yeah, I agree. And, and people in Hong Kong are more conservative. I think most of the, there's two things. Most of the people in Hong Kong that are wealthy believe in real estate and stocks, like, just the traditional asset class. And it gives them that confident boost to come to a store, speak to real people, then just going online and opening an account and giving their KYC information before that wire. Yeah. For us, it's all about like trying to get, make, make it as seamless as possible. They can literally go to the bank, which is like two blocks away or two shops away. Opposite. Opposite. Opposite. Oh yeah. Right opposite. Hang Seng Bank. And just try out a hundred US dollars worth, you know? And so we think like, this is a very good location where it's like right next to a bank. And yeah, I mean, we'll see, we're committed to have this place for years. And yeah, like, I mean, I think everyone's having a great time right now. I think so. I think once you bring out the alcohol, it's like, everyone's like, man, it's, it's exciting. It's exciting. Yeah. But okay. So what's next right right now? So your ATMs, like there's a bunch of coins in there. What are you bringing Bitcoin and what else? Sorry. Oh, okay. Okay. It seems. All right. So ATMs, we've got a Bitcoin, Ethereum, obviously, Tether. We're trying a few other coins. Like we, we, we've launched YFI there. Actually, it wasn't that popular. Yeah. OMG is there. We've had a few transactions. We have FCT. We're probably going to, actually, I'm not going to say anything right now. Yeah. I mean, we will be launching more coins very soon. Right. Yeah. Cause we saw Joanne earlier. She's launching like so many coins. She's like doing operations and stuff and everything. So I guess one more question for you on here, which is like, how did you, how do you see this market going out? Do you see where, cause I mean, obviously there's a lot of people behind us. Market momentum's like this. How far do you see it going? Yeah. So, I mean, we're here for the long term. Obviously right now within the crypto community, everyone's happy. People, most of the, most of my friends in the crypto space have made money. Some made a lot of money and you know, some made 2X, 3X, you know. And I think with the current situation where you have listed companies, this is including Hong Kong, not just the, not just like Michael and Tesla, everyone's talking about that. But you have a list of company in Hong Kong called me too, which they are also buying Bitcoin. So this is a start and it's super exciting to see for our OTC desk. We're seeing more professional people. These are barristers, lawyers, professional accounting, a partner level. They're dabbling into it. And it's not just like the last three months, but it's like, you know, the last six to nine months. And very naturally, right? Because I see a lot of people, you see guys just coming out. Exactly. Yeah. And everything. And what's fascinating to me is like this, the same story happens again and again. They get into Bitcoin. They read, they have skin of the game. They read about it. Three months later, they come and buy Ethereum. And now this defy narrative is so strong. It is so strong. And now we also added NFT. Do you have people asking about defy? Do you have people coming in? Yes. Absolutely. I mean, yeah. I mean, people are asking about defy. They want to, they want to understand how to work out Uniswap. It's unfortunate that during COVID time, we can't do these talks. We would love to do more. But at the same time, it's like people are still rushing into it by understanding Bitcoin. And we're not seeing, you know, retail, retail. Like we're seeing professional people coming in by. Still. So, because 2017, you saw a lot of retail, retail, right? People lining up outside and just like completely. So how 2017 ended was we had aunties and uncles who knew nothing. It was ICO boom, right? Had knew nothing about cryptocurrency. They were coming in asking us to send Ethereum to certain mall and address. We also saw Koreans coming in, flying over to buy crypto, not knowing what it means, what it is. And their goal is to sell it in Korea because there's a premium there. So, this time is very different. I mean, people that come to our desk understand about Bitcoin and they just want some help on getting a wallet set up. So, we think there's still legs. Like, I'm very bullish on this year, the entire 2021 actually. I think so. I think it's just, I think it's really just starting this year. And I think, I definitely want to congratulate you on Otis. Thank you. This is pretty amazing. Thanks for having us. Thanks for coming. You've always been like one of our biggest supporters in Hong Kong. I'd like to thank you too. And this is like our story, right? Because like I visited one tri store. I was like for the first Bitcoin center I would visit it. Because like I didn't know much about crypto back then. And then you're like, oh, come over and check it out. And it was such a nice location. So, I just want this to continue going. So, man, thank you so much. Likewise. I've been loving this journey with you. Let me get this one. Alright, let's do that. Alright. Oh, Winston. Vincent's here. Hey man, how's it going? Alright, so we have Winston here. And man, Winston, congratulations on this whole thing. Yeah. So, I'll tell you about the setup here. So, you can see here. Sure, sure. The comments, if you want to read the live comments, they're all here. Wow. The mic you can put up a bit closer because I think it's pretty loud in this room. It is. Yeah, yeah, yeah. So, how was your day of interviews? Yeah, today some media is coming in and trying to get some stories about crypto, Bitcoin. And we have a new shop here, right in PST, one of the really most busy corner in Hong Kong. And we have Hang Seng Bank right opposite to us actually. So, this is one of the messages I want to bring out to the public. Yeah, crypto is something mainstream. No more hiding in the buildings or doing something behind. But we can go to the public. Exactly. Yeah, we want to draw the awareness of everybody as well. Yeah. Because I know the one tri-store was upstairs. So, you have to kind of go upstairs to go in. But this is like ground floor, prime location, right opposite the bank. You're sending a message. Exactly. Yeah. Actually, we have a big Bitcoin sign just on the ground at the entrance. So, ATM is outside, right? Yeah, we have one ATM outside like other banks as well. It is a separate corner. People can get in. 24 hours? 24 hours. Yeah, two way. You can buy, you can sell, you can get your cash out anytime. Nice, nice, nice. And we also have the office here. People can come in and trade anytime as well. And we do a lot of education. Any questions come in, feel free. We answer anything we know as well. Yeah. And we got free gift bags too. Apparently, there's plenty of gift bags. That's crazy. So, yeah. So, there's plenty of. What's in the gift bag? It's actually a signature GB pen. Oh, wow. Yeah. Oh, this is my first time of seeing the real stuff actually. Yeah. Just ask some designer to do it. And my first time of seeing this pen. Nice. Yeah. So, make it an NFT, right? That's the next option. Well, it could be. Put it in OpenSea and let people buy. Maybe one EPX each. So, people here. That's too low. That's too low. Okay. So, people coming here today, they get one EPX at least. Yeah, right? Yeah. We have some nice. Yeah. Nice. Nice. With our logo. Another one. Our really. Yeah. Good. Partner as well. FPX. So, you can literally eat FTX here. Yes. Another NFT. Oh, prove it, right? Make some masks. Everyone can wear this. You can recycle. I mean, wearing a hundred times. Wash it. Bring it to. Yeah. With the. These are actually good masks. I'm actually wearing them. Yeah. Very, very comfy. Talking about the reception of everything. You talked to journalists in Hong Kong today. You know, you spent a lot of time. I've seen a lot of your pictures. People talking to you. So, what's the reception like so far in Hong Kong with mainstream media? Do they like Bitcoin? Are they curious? Are they a little bit skeptical, asking you hard questions? What's happening? I see. So, yeah, I'm a Chinese guy. So, I always read the Chinese newspaper, especially those finance pages. So, a month ago, when the price kept going up, you would see every day like three articles. And I think that's a lot of people who are writing about crypto. Bitcoin. And most of the people who are writing those commentary. So, basically, they are just when they're hyped, they just write something about this. But I don't feel they really understand very, very deep about this. Yeah. Yeah. And today, yes, some journalists coming in. But, yeah, they do ask them pretty quality questions. Yeah, it's getting better. It's getting better. So, it's the understanding of crypto is a little bit better, right? Yeah. Because I think, you know, all the way back in 2017 and maybe in 2015, everyone thought it was just for money laundering. Like, now I think the main message is coming through. Do they also ask you about DeFi or NFT space and everything here? Yeah. And especially in Hong Kong, people are very, very concerned about the regulation as well. Because we are regulating the exchanges in Hong Kong very, very soon. But luckily, OTC and ATM is not in the agenda yet. Oh, right. Yeah. So, everyone... So, you can rapidly expand the ATM network. So, how many ATMs do you have so far right now? It's more than 30 already. And we plan to launch another 10 to 15 in the coming two months. We've found the locations already. Yeah. Nice. And I guess, like, the education element. So, you're trying to complete the education element here. You know, what do you think is the best... Okay, if there's something you want to tell people, what would you tell them about Bitcoin? Well, this is your own bank. You control everything by yourself. And this is something limited. People cannot just, okay, print another double the amount of cash and then rip it off. Yeah, we see Hong Kong, okay, when the unemployment rate is 7 point something percent, and then second day, it announced all the buses raised like 10 percent on the fare. And the buses fare is for all the general public in Hong Kong. So, the unemployment rate is so bad, there's no increment in salary. But for the daily living, bread, transportation and everything keeps increasing. And why? It's because people are printing so much money. Yeah. Yeah. And I think, like, something interesting about Hong Kong's currency is kind of pegged to the US dollar, right? So, we're going to be hit by what's happening in the US as well. Do you see people concerned about that coming in? You know, like, they're like, oh, my money, my money, there's like so much inflation going on. Or, my so much, not inflation yet, but so much money printing going on. Are they concerned? Is that what you're doing? Yeah, it is not concerned anymore. You see the US bond 10 years, jump to like 1.7 percent something. This is a huge increase. And the reason why is that people predict the inflation is coming and this will be a crazy bond. So, I think it is just a start for the interest rate to come up, for the bond rate to come up. And then when it goes to like 2-3 percent, this will be a disaster, I believe. Yeah. So, I think so. I think that's a concern right now. So, let's see if there's anyone comments. So, I said. So, we're trying to see if, can banks destroy when you get COVID? No, no, no. Okay. So, we got a lot of discussion here. If you guys want to check it out, definitely come over to us here. And yeah, we'll see how it goes. Keep us updated on everything that's happening. Yeah, thank you so much. Open Monday to Sunday, so you can come anytime. Monday to Sunday, guys. Monday to Sunday. No rest. It's crypto. Yeah. What hours? What hours? From 9 to 7, but we will extend it from 9 to 9 in the future. Yeah. That's a lot of work, guys. 9 to 7. Monday to Sunday. Yeah, thank you. But yeah, welcome anytime. Yeah, we are ready now. Yeah. That's ready. That's great, man. So, Winston, thank you so much for coming in and saying hi. I hope you guys can follow GenesisBlog. And then follow Winston as well on the news. Thank you. And you'll see him around. Thank you so much, Michael. Yeah. Sure, Dan. Thanks. All right. Thank you. All right. We have Peter. You want to come on and say some stuff? James. Hey, James. All right, James. All right. Let's get James on. Let's get James on. You want to come on? Yes. All right. All right. Well, we've got James here. Hey. James is infamous project or famous project, super famous project in Hong Kong. So, RealDefi is here. What's up, man? Hey, good to see you, Michael. So, okay. So, I'll explain a little bit of the setup here. So, we have, that's where you can monitor yourself. This is where you can read the comments and see what's going on. I know it's a little bit loud, so you've got to be really close to the microphone. So, what's happening, man? How's everything going? Oh, things are great, man. It's a bull market. So, it's a good time to be in cryptocurrency, you know? Yeah. So, how's your venture like? So, you're running RealDefi. What is it? Do you want to give a quick explanation of what RealDefi is? Sure. So, RealDefi, it's a blockchain technology company with a mission to accelerate the mass adoption of digital assets by bridging the gap between traditional and decentralized finance. So, we do that by connecting blockchain systems to financial institutions. And we have RioChain, which is built on Parity's substrate framework. So, it's interoperable within the Polkadot ecosystem. Yeah, and that's exciting, right? Because Polkadot's coming very soon, right? Absolutely. So, what are your plans for? Are you excited? Oh, yeah. Are you going to get one of those slots? Because the slots are going under bids, right? Right now, that's pretty crazy. Yeah, absolutely. We're looking to get a parachain slot on the Polkadot network. Also, we have a thing coming for the Kusama network as well. So, very excited about the upcoming parachain lease auctions. Nice. I think it's like some exciting times, especially with the whole ecosystem growing. I think definitely like, you can see over here, right? Like, I always like to see the people who come here. Because like, sometimes you see the OG Bitcoin guys come early. They own Bitcoin. Yeah. And then you have the Ethereum. They have the DeFi guys. And they have everyone else. And you see that ecosystem growing, right? Yes. So, with that growth, right? So, what about DeFi? Like, what do you think is the most interesting aspect of DeFi that you want to connect with the centralized world or the traditional? Sure. So, I think, I mean, connecting DeFi, the yield farming with, especially for stable coins, you know, using something even more, I guess you could call it proven at this point, like curve finance, you can generate pretty great yields at around 20%, above 20% even. And if you can turn those yields into fiat, right? Back into currencies people can spend with, that's, you know, you can have a bank savings account then that has a greater than 10% yield in a pretty secure way. And so, I think that's really exciting. And then, of course, DeFi plus NFTs. I mean, that's like the hottest thing right now. So, you know, NFTs that actually have real utility beyond just the artistic value, but also have like airdrops of various cryptocurrencies or have some sort of ongoing staking rewards. I think that's really interesting. I think that's kind of interesting because, I mean, we're right next to a bank there. The bank's like saying, yo, we got interest rates of like 0.05 or some stupid stuff like that, right? Yeah, yeah, yeah. Like it's, it's, it's atrocious, but indeed in crypto, like even with your safe stables, you get like much higher yields. And you see, you see also a very transparent deployment of capital as well. Yes. I think that's kind of interesting. So, are you doing that? Like what's going to happen on Riochain once it's out? Yeah. So we already have a number of projects building on Riochain. So two of them actually just had initial DEX offerings this week. So, Labs, the tokenized real estate project, they're building a whole ecosystem to make it so everyone can be a property owner with like as little as $100. So that's super awesome. And their token is up pretty significantly. It was pretty, it's pretty good launch. Let's be honest here. Yeah, it was a fantastic launch, especially, you know, for the private sale people, for the launch pad people. It was absolutely fantastic. And Leprechaun as well is a token that's, or a project that's building on Riochain. So they have a gamified DeFi platform for prediction markets and games of chance and this kind of thing. So it's really exciting to see both of those out in the market now doing well. And, you know, basically integrating NFTs in a very unique way as well. So again, this NFT plus DeFi, you know, mixing the yields in to things like properties. Like now you can have, for instance, a timeshare in the, like the, I know Labs is working on a timeshare that's backed by an NFT. So to show that you have access to this property, you know, for a certain amount of days per year. So I think these opportunities are pretty exciting. I think so too, man. I think, I think we're at something very new here. So I definitely feel like it's good to start building. It's a, it's still a, it's a, one of the best times to build right now. So congratulations on everything on happening over there. Hope to keep you guys up, hope to keep you guys updated on what's happening and what's happening here, man. So thanks so much James for coming out. Yeah. Thank you so much, Fox mining. Take care. And it's like, it was very spontaneous as well. I just pulled, pulled, pulled James out of the nowhere. So yeah. Thanks man. Thank you so much, man. Cheers. All right. Right. Well, we'll go for a hand power branching. All right. Sounds good. All right. Um, so we're trying to see if linear guys, Joanne, Joanne, can you tell me find a linear guys? Are they here linear? Yeah. Kevin, Kevin is Kevin here. Yes. Kevin, Kevin. Yes. Yes. All right. All right. How's it going, man? Doing all right. Doing okay. Yeah. So you're the man of the hour linear. No, no, no. Congratulations on your launch on finance. How's everything going? What's everything? What's happening, man? Yeah. It's been, uh, it's been, I just tell you about the setup as well. So you can see yourself here. Yeah. Yeah. You can see the comments. Okay. So there's a, there's a screen of the comments and then that's the camera. So yeah. How's everything going? Yeah. Things are going okay. You know, it's an exciting times in DeFi. You know, this is just one of the steps that, uh, achievements that we've gotten to. And then one of the milestones that we've reached. Uh, but the project is still ongoing. We've, um, in terms of, uh, what we're releasing it's we've only released maybe 10 or 20% of what the, what the protocol is going to be. Oh, so, so what's next? So, so I guess like for everyone who doesn't understand what's happening right now. So what, what is linear? Can you give a quick, uh, description? Cause this is Kevin, right? This is Kevin. He's very, like, he's one of the primary members of linear. So can you give us a little talk about what's happening? What is linear? Yeah. So linear is a, uh, decentralized cross chain compatible synthetic asset protocol. So you can come onto our protocol, stick your linear tokens, uh, generate some stable coins and then buy synthetic assets. Uh, but we do it in a, in a, in a way that's, uh, very cost effective. And the transactions are fast as we built everything on Binance Smart Chain. So all our contracts are on BSC. And so your transaction costs are, are, are, are minimal. So you're looking at maybe one or, one or $2 at most for each transaction. So sorry about the noise up there. So apparently there's a lot of people, I think, I think that this first thing, it's first thing. All right. So, so, uh, yeah, sorry. Apologies for that guy. So, okay. So building up synthetic assets, what, what, what does, what does synthetic asset mean for you? Well, I think there's a lot of potential because obviously, uh, for people that need, that want to have access to, uh, certain types of assets on, in certain markets. Um, if you can't get that in your country or where you are, you can buy essentially trade on the price in terms of a synthetic asset. So, uh, for now we have, um, we have a, a slew of, uh, of crypto assets, uh, of gold and silver, uh, will expand out in terms of, uh, foreign currency. So what's the most popular asset right now? Well, it depends usually on, on, on a week to week basis. It depends on which, which, uh, coins have been pumping. A lot of times it's B and B, uh, just last week it's link. Um, but primarily over the last, I would say two, three weeks, it's been Binance marching. Oh, sorry. For B and B coin, obviously because of the price rises, yeah. So you see the most, most action there. So what, uh, how about synthetic assets? Is gold popular, silver popular, or are we still on a way to get there? Uh, uh, silver was popular when we had, uh, a lot of things, a lot of information come out from wall street bets. So if we were actually betting on silver, so at that point it was popular. We leave those stocks where people want to have certain exposures. Um, so it's really about getting crypto people and exposure to the synthetic version. So synthetic gold, synthetic silver, right? So it's about having broader exposure in the markets, but if your markets don't allow you to have it, that's, that's where, that's where the penetration is going to be. Right. So, you know, I think, I think there's a lot of people who probably don't have access to us stock trading or directly to silver. I guess you can buy silver here, but it's a little bit hard to keep, right? That's right. That's right. So we, we, um, we have indices right now, but the crypto indices, but we'll soon expand out into, into stocks. Um, so stocks and, um, and other, I would say high tech, uh, type of synthetic assets we're looking into. And we'll have probably have that within the next two or three months. Um, so you can essentially invest into any, a lot of the stocks that we'll find on like NASDAQ. Um, um, uh, what else do we have? Like Tesla, uh, any other, any of those, but we'll, we'll probably be a bit more creative. So you'll see a lot more ETFs on our platform. Got it. Got it. And, and where do you see this going? All right. So you said that you're only launching like 10%, you only released 10%. That's right. So what's a broad future for linear. So I think there's going to be obviously in terms of, um, more type of derivative products, uh, leverage, uh, we'll be having, um, but it'd really be more on like thematics. Right. Cause thematic ETFs are going to be the new praise. So we're thinking we're looking at different types of themes that replicate from that you will see in, I would say in, in the real financial world across the board. So we'll be very creative on that aspect, whether it be coffee, uh, right. Let's talk people or any other type of ETFs that you can find will do. Right. So it's biotech. We'll look at biotech. Right. So anything that you can find coffee is interesting. Robotics. Um, uh, uh, I would say, um, automated cars driving. So any of those that you'll find in, in, in the regular markets we'll have. All right. So, so last thing. All right. So with all the synthetic assets, right? Like how does this, um, I guess, how does this fit in this whole ecosystem? Like, where do you see, like, do you see this becoming a, one of the biggest exchanges around? Like where, um, everyone is going to have access exposure, or do you think this is very niche to people who don't have access and they prefer normal? Or do you think, do you think this will be the future for everything to go on? Like everyone's going to trade synthetic assets in the future? Um, I think synthetic assets will have its place, uh, within DeFi. Um, primarily because one, it gives people exposure. You can enter and exit quickly for your portfolios. Um, you can also use it within, uh, cross asset swaps. If once we integrate among all those DeFi products, right? So we have like the pools and, uh, that's right. That's right. And obviously, um, we try to make sure that, uh, the world's prices are updating. Um, and everybody gets a fair price for their, for their synthetic assets. Once that's there, you basically can trade prices in and out as quickly as you can. Uh, and, uh, on Binance Smart Chain is extremely fast and extremely cheap. Got it. Got it. So I hope everything goes well. Congratulations on your launch there. It's been a little bit crazy, but welcome to the party. I think, I think we're just getting started here. Thank you very much, Michael. All right. Cheers, man. Thank you. Thank you. Let's go with handshake. Let's do a call for handshake. All right. So I think that wraps up everything, guys. Um, we got pretty much everyone. Leslie, do you want to come on or no? Come on. All right. All right. Leslie, come on. Come on. Leslie's been hiding, but all right. You're, you're out now. You're out now. So I'll explain to you what's happening here. So the camera's here. You can see comments that people want to comment. You can see that here. And then you can see this here. So how's everything going, man? It's been good. I mean, it's been a good market for new projects and, uh, it's very exciting because there's so many new things happening all the time. There's so many new different projects to look at. It's sometimes too much. Yeah. And I think like being part of Genesis Block Ventures, you'll be investing in a lot of stuff. I mean, it's been a little bit hectic, uh, exposure to a lot of different elements. Uh, where do you see, do you see it? Cause we've seen all coins just exploding in the past few days, right? You see this trend continue to going. Is it too crazy? You know, what are your thoughts? Yeah. I mean, I, I'm not quite sure on one hand, a lot of people that weren't investing before are now investing, which is, uh, may not be a good thing, but it's also a good thing. Cause it means more money is coming into the system as well. So, uh, but it's very exciting because there's all these different guys that have been hiding in the shadows. Uh, they were more, they're probably smarter guys. They were, they were kind of more careful, but now they're out. They're like, Hey, we want to raise. So in a sense, a lot of these projects are getting more and more interesting. That's good. I think it's, it's good and bad. Right. And, and I think something that's quite interesting that you're saying is I, I think I see that cross the board as well. People who are very conservative in 2017, 2018, 2019, people who don't want to touch Bitcoin at all. They're reaching out to me now. Right. They're saying, okay, what can I do in this space? And I think, I think a lot of people didn't believe in decentralized finance. I thought people, I think I back in the day, people thought it was like a, as a fad, right? But now we see like much more stuff being built. And I mean, are you happy for that? Are you optimistic? But do you see too much going on? Yeah, I'm very excited because I'll be very honest. I mean, when I first came into crypto in 2018, when I went to Binance, most of the action was really in the exchanges and that's where all the revenues were being made. But since last summer with compounds and that X and, and wifi really feel real use cases. You know, it reminds me of the days when I was in structured finance and I'm very excited because I'm a real user. You're a real user. It's not, it's not just on the exchange and finance is one of the strongest applications of crypto. Yeah. So, so what projects are you looking at now? Can you give us some, like, if you're, you know, you've done so much research, what it's like on your top of your list. Well, there's a lot of NFT projects that are coming out from different regions. There are projects that we think are, have very good teams, but maybe they're overlooked. And they, they came out maybe 2019, 2020. So we're looking at those. And so you may see more projects from us where we're looking at existing projects and, and working with them and making them more relevant or telling the world that, that they're, they're way to undervalue. Yeah. So which projects give us a name, man. Give us a name. Give us a name. So one project we're looking at is, uh, is Astro tools, which, which has been announced. Um, I don't know if you've used Dex tools before they, they were innovative in that they, they were the first guys to build on pancake. And, um, we looked at their market cap. I mean, I don't know if you guys are looking at market cap nowadays out there, but, uh, 5 million market cap. Right. So we thought this is interesting. So we reached out to them and we said, look, uh, a lot of guys are using your product, but, but BSC is where a lot of the action is. And you should really try and focus on there. So helping them, talking to them and helping them. Yeah. So what we're doing is sort of guiding them to go there as well. And of course, uh, we would, we would, we would look at buying their points as well. Yeah. Awesome, man. So thank you so much for coming in. I know, I know as I just pulled you in here, uh, thank you for coming online. I think we're wrapping up this session as well. So I guess, um, congrats on everything here. Um, and then we'll see each other soon. Yeah. Thank you guys. So I think I'm going to wrap up this session. Thank you guys so much for coming in. Um, let's see for tips from Leslie. All right, guys. So we've got toast cases. Hello from Canada. Hey guys. So I know it's a bit of a hectic today. Um, definitely couldn't read as many comments as possible, but I hope you guys had a little bit of fun and saw what's happening. Um, this scene is very, very well, like super strong. I mean, it cannot be more bullish than this. So guys, thank you guys so much for tuning in today. I'll see you guys soon. I'll try to answer as more questions as possible and show you some more clips in the future. But guys, man, thank you guys so much for tuning in. I'll see you guys next time. Next time. Next time. Next time. Next time.