Julien Bouteloup - Opening Statement & Flash Talk REMOTE

okay guys so can you can you hear me yes okay I guess so um sorry I couldn't be here uh in Denver I was in yeah can you hear me yeah fine I just want to make sure it's all good you guys can hear me yes okay cool thanks I can I can see some people in uh in the front of uh of the room so um yeah my name is Julian U uh I'm the founder and CEO of state capital group uh I will come later to what is a state capital group so first uh thank you for attending uh stable uh Summit uh so this conference we've been running uh the unable uh the unable uh Summit we've been running it across uh different countries in the world and this week we are in Denver and it's always a pleasure to be in Denver but unfortunately I couldn't be here here this year uh but I will do the uh flash talk uh online I hope you guys don't mind so we have more than 450 different attendees uh I would like to uh give a special thanks to our ambassador of the year which was also the ambassador of last year K finance that you guys probably know very well with the stable coin CRV USD and also like specific and quite well-known sponsors not necessarily in in a defi space but PayPal we also have centrifuge with the real world assets verified USD foundation and a company that has been making a couple of noise uh recently over the past few days a gaunlet um we also have other sponsors Axel xrp Ledger tance Ranch protocol plume t i AA open dollar and Redstone and of course Community Partners uh fabric uh VC Rec news that I'm uh proudly raring today I'm also the founder of Rec news uh flywheel and the defant so this conference uh and the idea behind this conference uh is about understanding what are the different uh the complexity of uh building uh this ecosystem of stable coin what why stable coins are important so everyone that we have all all the attendees and the partners that we have chosen are driving a specific uh pillar of this industry ranging from centralized infrastructure to decentralized infrastructure to lobing to uh uh Advance algorithm in in Auto auto automated market makers to Landing platform so each of them are either close F close building uh or helping the the the stable coin market so the people that have put in this conference in place are St state capital which state capital has been building different companies in the ecosystem such as take down Blackpool R news and also been investing a lot uh in the space and party action people which we will see the the CEO here Zach uh where we partner with Zach and we running together the stable unstable Summit and they have been doing a fantastic job organizing this conference and the next conference will be in Brussels uh Bangkok and beond so don't hesitate to if you see those people uh to talk to them maybe you can be involved in one way or another in those different conference especially in ECC coming in brussell this year um so don't be shy talk to the founders talk to the people that are here because what we're trying to do is trying to help this ecosystem trying to flourish the ad the adoptions of stable coin and see the the or tackle the different complexity that are related to uh building decentralized Finance uh with uh I mean with the help of St coins um so we'll go over uh a quick presentation but before that don't forget it's to meet people talk to people you have lobing you have aable assets you have D5 projects and over the past 10 years we've been trying to build this technology uh we've been been doing a lot of failures but we're here to learn uh build and ship so before uh giving the stage I will go to a very quick uh pres presentation uh which I called the or we've called the unstable Paradox okay cool yeah so this um after the flash talk I wanted to um um hacked as a little devil ADV at and trying to understand as an e as a community uh the complexity complexity of this space and what we've been going through over the past few years whoa it's um you can see Market is going up uh tokens are going up we crossed not only the $60,000 us doar uh for BTC for Bitcoin but we are uh at almost 62 uh so everyone is happy we all going to make it and it's a fantastic space um but then you have the Dark Side of uh of this graph which is basically uh the understanding of uh the stab coin Market stab coin Market represent almost 80% at least 80% of all the exchanges uh in in the crypto space but still um 70% of More than 70% of this uh this slide is still the previous slide is still good uh of this space is represented by or dominated by centralized uh stable coin so it there's very question about uh what are we building what are we facilitating in this space are we uh trying to give a technology to the centralized Authority centralized uh institutional uh company to get more uh Power uh in in the world because if you look at usdt usdc and all the different stable coin they are not decentralized St coin they are purely centralized St coin and any one of those entities uh you can see the evolution of the stable coin market dominated by centralized Authority uh Circle theer uh and then you have uh uh still an outsider a little bit which is D that has been trying to survive but you can see how he being eaten up by those two big uh players so the question is really um what's happening in the space the market is going up tokens are going up everyone is getting rich but still the technology and the vision that we are driving as a community is giving more and more power to the centralized uh Authority um so t or cirle uh if they want today uh they can shut down or they can pose uh your wallet if you have assets into them they can decide to run a symatic uh chaos in the ecosystem of defi so if the SEC or anyone is enforcing them uh to POS because this is what they can do since it's a centralized uh piece of technology I mean the wallet that they operating the smart contract is uh is fully uh controll level by those guys so they can uh from uh uh today uh stop the withdrawal of those asset if they wanted to um so the question is why is this community where the vision is to decentralize the technology to decentralize the access of this technology is still in the hand of the people that have been D driving the society in the past look uh when there was a issue in the bank silver Bank uh then the market if you can come back to the previous slide um then the market uh the usdc uh collapsed and people want for usdt there was a massive unpeg in usdc as you can see in a curve three pool showing that this Market is highly driven by institutions and the banking system so we all saying this technology is amazing we all need to use this technology but still if this technology was so amazing why we don't see more and more decentralized table coin Solutions table coin solution that are built by Advanced exotic derivative products like for example what I've attempted uh angle Finance or fra why are those stable coin not being there and represent at least uh a sufficient amount of market shares because you can see more than 70 80% of the market of stab coin is taken by centralized version of uh that technology so it could create a massive uh chaos of the Black Swan what we call it in the space uh to the entire defi ecosystem to the entire blockchain ecosystem so we could see as a big actor even if the market is going up and we all sharing up the fact that our tokens and our bag are taking more value we could see from day one that this technology I mean we can see see today that this technology is very far from being decentralized um so is it because people don't know uh how to drive uh correct technology in front or against centralized Authority is because people are more driven by greediness because there was some research showing that people most of the retail they only uh the appetite is only for high yield so they will r prefer uh putting asset into a high risky pool if they can earn 80% or 20% Yi rather than an asset that is more uh that is safer uh so the only uh the the interest as a retail is to drive uh incentive to drive rewards to economical value and not necessarily about the technology um so I think uh what we're seeing is still a lot of builders in this ecosystem are trying to find Solutions uh to build uh the centralized version of stab coin that can be used in the uh in the market and to take market shares it's very complex and the question that we should really ask ourself well we sure that retail only shares the the high yield but maybe it's also about the infrastructure about how we run those table coin how we run those D5 Project D DS have shown a massive failure before you could see conference you could see talks about Dows at decentralized autonomous organizations how they can help flourish this decentralized financial uh ecosystem but what we've been experiencing over the past five years more than that is that deos D just create more chaos uh so it's more like decentralized organized chaos than not organized chaos it's just chaos and all the people that have been running some of the major uh stable coin decentralized very version of stab coin are coming back to centralized uh entity in order to push decisions they can use the community to make or to have feedback and research about how this protocol should evolve but at the end the decisions is driven by centralized Authority we seen it couple days ago with a and gaunlet there is a there are or there is a major problem in the space about how we coordinate decision and how we make sure the decisions that are for the long-term success of this protocol and not the shortterm economical value of the people playing with those protocols so it's very complex and that's probably one of the reason why the stable coin Market hasn't been flourishing as much as we had thought previously I'm talking about the decentralized technology that should be used and rather than centralized Authority driving the market of crypto as we we been seeing today so yes the market is going up but as you can see the market is giving more power to centralized uh authority to the traditional Financial players ETF people investing you can see that the market is getting captured by those big players so we have to wake up and ask ourself what are we trying to build are we actually uh in using the right tool or talking to the right people or making the right Connections in order to capture moment markets because over the past 10 years the market of decentralizations has been just going down and not going up if you compare the Matrix in term of the techn by who the technology is being used I think that's it I'm not sure if people have a couple of questions that they want to go through if this something we can do or otherwise I will let the floor to the different panels and and talks that will happen over this conference and again thank you guys for attending the unstable Summit I think this is something the high quality that we've been trying to put together and we're doing this in a couple of City worldwide and if you can uh share spread the word about uh this conference that would be very highly appreciated because a lot of people have been putting a lot of effort and especially uh the people from the uh party uh company