The Digital Chamber’s Post

Transcript

Compliance is basically the largest transaction cost. If you don't lower the transaction cost while you do create the best asset, the friction introduced for acquiring that asset will be too high. And so even if the United States successfully generates all the best assets. It may not be the place that experiences the most demand to buy those assets if there's too much friction to buy the asset. The automation of compliance is now possible in ways that it has never been possible before. And this doesn't mean removing compliance requirements, it means automating it to make them more efficient and reliable while also making them lower cost. The goal of this would be to make the acquisition of that asset, the ability to hold that asset and the ability to resell that asset low cost. At this point you would have U.S. financial system having the best possible assets with the most reliability through things like proof of reserves, proof of composition, high standards for what on chain real world asset is and you would have a low cost and low complexity to acquire the asset from international buyers in places like Dubai, Singapore and Hong Kong.