189 - Taking Treasury Bills Onchain with Martin Carrica
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 25 September 2023
⏱️ 75 minutes
🧾️ Download transcript
Summary
The overnight fed funds rate is 5.3% but how much are you getting from that in your bank account? How much are you getting from your stablecoins?
Today on the show Martin Carrica walks us through a world in which we can tokenize treasuries instead of just dollars.
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https://www.bankless.com/debrief-onchain-t-bills/
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TIMESTAMPS
0:00 Intro
7:16 Intro To Martin
10:37 Risk Free Rate of Return
16:06 Inflation Experience in Argentina
20:41 Why Don't We have Onchain TBills?
22:44 Laws Around Treasuries
27:08 Do The Fed's Want This?
31:53 Don't we Already Have Onchain Treasuries?
37:18 The Next Evolution Of Stablecoins
40:01 How Big Could This Be?
50:12 Cutting Out Commercial Banking
52:21 Explaining The Product
55:57 Onchain Vs Traditional TBills
1:02:51 How Big Can This Get?
1:04:10 Identifying Legit Onchain TBills
1:05:49 Why Doesn't Circle Do This?
1:11:50 Dealing With US Regulation
1:15:02 Central Bank Digital Currency
1:19:02 Can This Start a Bull Market?
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RESOURCES
Martin on Twitter:
https://twitter.com/mcarrica
Martin's article on Stablecoins:
https://mcarrica.substack.com/p/stablecoins-are-cryptos-hidden-money
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | If you look at, like, last seven days of Ethereum versus run rate for a circle, it's the same amount of money. |
| 0:04.8 | Huh! It's equivalent to circle? |
| 0:07.0 | Exactly. Exactly. |
| 0:08.4 | Holy shit! |
| 0:09.6 | Every time you print in money! |
| 0:11.3 | Every time you pay gas, like, that amount of gas, that's the same amount of money that circle is making. |
| 0:15.2 | There is three times that. |
| 0:16.4 | There are loans making more money than that. |
| 0:18.3 | The whole rest of the crypto ecosystem outside centrally exchanges. |
| 0:21.0 | Oh, that's your margin. |
| 0:22.4 | Well, your margin's my opportunity. |
| 0:23.9 | Exactly. |
| 0:24.4 | That's what you're saying, Martin. |
| 0:25.5 | Exactly. |
| 0:30.9 | Welcome to Bankless, where we explore the front-tier of internet money and internet finance. |
| 0:37.1 | This is how to get started, how to get better, and how to front-run the opportunity. |
| 0:40.6 | This is Ryan Chong Adams, and I'm here with David Hoffman, and we're here to help you become |
| 0:45.2 | more bankless. |
| 0:46.5 | This is certainly a money opportunity to front-run. |
| 0:49.9 | On-chain T-bills is the topic today. |
| 0:52.4 | The overnight fed funds rate is 5.3% right now, and that's some pretty good yield. |
| 0:57.3 | But how much are you getting in your bank account? |
... |
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