Building a Digital Assets Platform

Published on
September 17th, 2020
Duration
49 minutes


Building a Digital Assets Platform

The Interview - Crypto ·
Featuring Tom Jessop

Published on: September 17th, 2020 • Duration: 49 minutes

Tom Jessop, president of Fidelity Digital Assets, joins Real Vision CEO, Raoul Pal, to talk about Fidelity’s effort to build a digital assets platform for institutional and retail investors. Jessop breaks down how his background led him to take on this project and his experience at the helm of Fidelity’s push into crypto. He also talks about his view of the current state of the crypto and what the future of the space might look like. Filmed on August 31, 2020.

Comments

Transcript

  • EW
    Erik W.
    23 September 2020 @ 05:49
    Watching Lex Fridman talk with the founder of Etheruem in this YouTube (https://youtu.be/3x1b_S6Qp2Q) and at 41 minutes they discuss what it would take to create a network to surpass bitcoin’s fault tolerance and he pegs it in the low billions of dollars. Isn’t that a disturbingly Low amount should a sovereign government want to corrupt the system to protect fiat?
  • SD
    Sudipta D.
    17 September 2020 @ 15:21
    Excellent discussion. The interesting thing is to figure out the path in which this revolution will play out. By the way Indian Govt is planning to ban Bitcoin.
    • TM
      The-First-James M.
      20 September 2020 @ 20:59
      That will be their loss, and Singapore and Switzerland's gain...
  • JD
    John D.
    20 September 2020 @ 11:38
    Excellent discussion... Tom is right at the end of the day it is all about the user experience... Raoul , you are overstating the realities of The Aadhar Card in India, granted it is a very ambitious project but there are two overlapping issues with the technology , One is the soundness of the technology and the other is its implementation..I live in In India and the government has admitted to high authentication failures...Many bugs have yet to be worked out...
    • RP
      Raoul P. | Founder
      20 September 2020 @ 16:18
      Agreed, it’s the future of what it could represent that I’m interested in, not current state. But I’m also half Indian and understand that they are very good at scoring own goals...
  • Dv
    Daniel v.
    19 September 2020 @ 13:39
    Great interview. Very interesting to hear what Fidelity is doing in this space. Makes me think, if big guys like them are getting involved, the chance of the government 'banning' btc is becoming smaller and smaller.
    • DW
      Daniel W.
      20 September 2020 @ 11:49
      From my understanding, initially btc was supposed to be a currency. I still think that governments won't allow that. However, nowerdays I think btc is just a new kind of software. This reduces the probability of being banned quite a lot
  • WG
    Wayne G.
    19 September 2020 @ 22:01
    Great discussion although I think Tom may have been a bit disingenuous with his slow rising tide versus wave analogy. As Raoul and Mike Saylor pointed out, most key decision makers at many funds and big businesses already have personal investments in Bitcoin and are on board with the concept. Fidelity must know that once they can provide an acceptable custody solution and form factor their client acceptance will be very fast. PTJ and Saylor were first and opened up a lot of eyes and minds but once one "big" institution or pension makes an allocation, the scarcity of bitcoin will force all institutions to get invested immediately before the price really explodes. This won't be a wave, it will be a Tsunami.
  • jg
    jesse g.
    19 September 2020 @ 19:49
    Love the interview. The crypto gathering sent me down the rabbit hole. I very much like the ideas expressed in this interview. Blockchain is obviously a huge technological innovation but now with Chainlink and other oracle solutions that decentralizes and aggregate both on chain and off chain feeds. Its seems pretty significant and has some partnerships with some major companies like Microsoft and AMD. Here is the white paper for it if anyone is interested: https://link.smartcontract.com/whitepaper more or less from my understanding it will help with many of the layering issues in blockchains and smart contracts. really interesting project and i recommend anyone who is interested to look into it. really seems like a bright future for the cryptocurrencies in my opinion.
  • JB
    John B.
    19 September 2020 @ 19:02
    That was a terrific presentation on future of digital currency and Blockchain. Fidelity seems to have a pretty smart guy, Tom Jessop on their team getting in position to help us all with understanding if this is the real future.
  • DA
    Dina A.
    19 September 2020 @ 04:55
    I'm not too familiar with the inner workings of the mechanics of the blockchain but wouldn't the ability to mine more coins dilute the value?
    • LH
      Luke H.
      19 September 2020 @ 13:58
      The supply is hard capped at 21 million. Most coins have already been mined (around 18 million), with the newly mined supply designed to reduce as time passes - the last coin will be mined around the year 2140.
  • LK
    Lalith K.
    19 September 2020 @ 13:15
    I was very sceptical of the crypto tier, but this was excellent. Thank you.
  • ly
    lena y.
    18 September 2020 @ 19:36
    I am that mom who won't use bitcoin to buy her coffee in Starbucks but I welcome this new technology and it is fascinating. Keep educate us!
  • ly
    lena y.
    18 September 2020 @ 19:24
    two visionaries!
  • GF
    Gaye F.
    18 September 2020 @ 14:46
    Great and important interview. Thanks for doing it.
  • MD
    Matt D.
    18 September 2020 @ 05:47
    Thanks Raoul and Tom, Great discussion. The idea of collateral is the type of thinking original to RV/Raoul (? well I assume - I don't read/watch much else) which is "priceless". I have been seriously considering BTC and a while ago realised that one thing to me that makes it superior to gold is that it is "harder" to forge. I know I wouldn't have the ability to verify if a lump of gold is legit or not (I believe the best available is a 4 or 5 point authentication, one involving UV or ??) - yet BTC is BTC ( + the gigabytes of blockchain). I'm sure there are others here who might explain where/if I am incorrect. This would support the idea of collateral. Tokenisation still seems to be both the biggest opportunity yet also the ruin of the world in hyper-financialisation.
  • KP
    Kevin P.
    18 September 2020 @ 04:28
    The possibilities of digitization x tokenization, particularly in India ie India stack is just fascinating. Where can we learn more? Future RV interviews?
  • DP
    Divyesh P.
    18 September 2020 @ 03:55
    wow!
  • CW
    Claude W.
    17 September 2020 @ 20:11
    "In the early stages it's not about the technology but about the incentives." My key takeaway and really the reason why most startups in the space fail. Great episode!
  • MF
    Michael F.
    17 September 2020 @ 19:46
    Would like to go more in depth about one aspect mentioned in this video. With Bitcoin increasingly traded by institutions versus retail (like in the 2017 run-up), how are trading patterns expected to change? In particular, are expectations of a x-fold increase over the next years modelled on the past still realistic given that this time around there are futures contracts to short it?
  • AB
    Alastair B.
    17 September 2020 @ 18:35
    Raoul, have you seen the cards being offered by crypto.com? This is a huge step forwards in having crypto easy to access and integrated into people’s personal finances. It’s the first crypto product that has actually made me believe that they can get into the wallets of more than a tiny fraction of the population.
  • AB
    Anders B.
    17 September 2020 @ 17:05
    Interesting discussion. On the collateral topic - people are already doing this and in reasonably significant amounts even with at a premium. I think if you are in this space, you aren't wondering if this will or won't happen. I also wonder about the assumptions around custody. It is by no means clear how the custody business will even be structured (both financially and technically) let alone what options you have as a customer to leverage those assets. What the technology can do isn't well understood either so where you might have just stored private keys, now you must do things like operate delegated staking pools and respond to signing requests so customers can leverage their assets. Early days for sure.
  • BV
    Bas V.
    17 September 2020 @ 13:35
    Great interview. Raoul talking about Tokenizing Real Estate. Want to make it REAL? Get Managing director of T0 on the channel! https://www.tzero.com/tokenize
    • RP
      Raoul P. | Founder
      17 September 2020 @ 14:19
      On the case
    • GP
      Gregory P.
      17 September 2020 @ 14:35
      Also Max Property Group in The Netherlands has tokenized real estate; mainly in the UK, Germany and The Netherlands. They are very open about their progress and have a Telegram channel where you can ask everything. https://www.maxpropertygroup.com/en/
  • SY
    Shiva Y.
    17 September 2020 @ 07:44
    If it was filmed on 31st August, why is it published on 17th September? Isn’t it a lot of gap?
    • RP
      Raoul P. | Founder
      17 September 2020 @ 14:20
      Its not about markets...its a broad perspective.
  • FS
    Filo S.
    17 September 2020 @ 12:38
    This was an excellent interview. I found it to be extremely educational and forward looking. Well done Lads! 10 out of 10 on my scorebook. Highly recommend to anyone interested in getting current on the custody component behind the transaction of Bitcoin and other digital assets. More importantly, how it will fast track future adoption of Bitcoin with Hedge Funds & Family Offices, followed by Pension funds and retail customers. Well done Raoul!