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  • According to Mr. Fink, in many emerging markets, such as India, Brazil, and parts of Africa, there are dramatic advances in digital payments, which are bringing down costs and advancing financial inclusion. However, BlackRock's CEO suggested that in the United States, there is a lag in innovation, resulting in higher costs of payments.

    And so many tales of financial success have emerged from those countries!
    Why won't you let us asset strip america!?
  • No, no, no... You misunderstand. We're not selling the people dogshiat.

    We're selling the people dogshiat in a focus group tested, generationally appealing, custom designed, artisanal cardboard box that we mass produce on the cheap.

    Glad we could clear that up.
  • Cryptobros are constantly taking any vague crypto adjacent press release from a mainstream institution as evidence that their magic tokens will soon make them rich.
  • I knew the inevitable financial collapse of Blackrock was going to be hilarious, but I wasn't expecting it to happen THIS fast.

    / Stage 4: buzzword bingo
    // Creative accounting is stage 5
    /// I give em 3 years, tops.
  • Just new bullshiat basing its price on old bullshiat, like CDOs? What could possibly go wrong?
  • More efficient shells to con people out of their stuff?
  • akallen404: I knew the inevitable financial collapse of Blackrock was going to be hilarious, but I wasn't expecting it to happen THIS fast.

    / Stage 4: buzzword bingo
    // Creative accounting is stage 5
    /// I give em 3 years, tops.


    Yeah, sawing the limb you are sitting on is not a good look.
  • Even the name of the product, Web3, is a scam.  Web3 has nothing to do with the WWW Consortium and is not the next generation standard after Web 2.0.  They just chose that name to give themselves a precieved degree of authority.
  • The problem is the tech interns just spend a year explaining what crypto is to the boomers at the helm. Now those boomers are full in on the crypto experience having not heard of what is happening generally in the crypto space recently.

    These plans are baked into their addled minds and there is no steering the ship away from the rocks of failure.
  • We should put Blackrock on blockchain. Just because I hate both.
  • We could just secure them to a concrete block by a length of chain and drop them off the nearest pier.
  • You want a trusted intermediary to verify ownership of stock with publicly viewable ledgers that get updated with new ownership? We have that. It's called a clearinghouse and we invented it in the mid 1800s.

    And what value does adding stock ownership to blockchain ledgers solve, besides "we could make marginally more money if we avoided the processing fees and security regulation of trusted parties"?
  • kittyhas1000legs: Just new bullshiat basing its price on old bullshiat, like CDOs? What could possibly go wrong?


    Stonks are digital assets right now.  Few have paper stock certificates.
    What possible value would further digitization bring?  Americans are not buying $0.05 of stonks, we buy shares or shares in ETFs / mutual funds in hundreds of dollars a month in retirement and brokerage accounts.
    So would like to hear more.  Is this a way to bypass Visa and Mastercard like Alipay?  Portable defined benefit pensions?  Or more blockchain nonsense?
  • I look forward to Margo Robbie explaining how this all works from a bubble bath in a few years.
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