It is not necessary to know how to use the program.
Inversion Chain is the ideal scenario for Empire’s co-host Santiago Santos.
Confused? Consider the 1990s. Businesses used “.com” and — outside of the somewhat ridiculous Homes.com commercial we saw during the Super Bowl — dot com isn’t really used anymore. If you don’t believe me — or Santos — bring it up to your local Gen Zer and you’ll quickly see how out of tune it is.
The internet has become a normal part of business today. Santos sees crypto or crypto rails as following the same course. Inversion Chain is not something he needs to promote to the public. The public won’t be aware unless it is brought up during the course of dealings with Helium or other potential projects.
But let me back up: For you lot, my goal is to ensure you understand it — even if you don’t need to.
Santos announced Inversion Chain this week. He’s been more or less thinking about it ever since he left ParaFi four years ago. Santos began planning in seven months and has now hired.
Santos did tell me there is a goal for the launch, although he didn’t have a specific date. “as soon as possible.”
Santos, the L1’s architect, noted that Avalanche is the best place to customize the chain and provide support for all use cases.
The EVM is compatible with native interoperability, as are privacy and the ability to permission your network.
Santos decided to create his own chain after looking at the options.
“Having our own chain lets us purposefully build a stack exactly to the specs of the businesses that we acquire and really allows us to go tailor-made,” He clarified. “I believe in a multi-chain world.”
We’re losing users right now. As Santos pointed out to me, folks are coming on chain through an exchange with some sort of speculation in mind — and that’s not totally a bad thing, given that there’ll be room for speculation in crypto (just like there’s room for speculation in stocks), but the goal is to retain users and show them to use cases crypto has to offer.
Santos is hoping that we will reach a point where people won’t have to worry about cryptocurrency.
“I think we’re selling ourselves short as an industry, and we can lead. The focus is very specific: You lead with a core service like mobile and FinTech — and when I say FinTech, it really is a stablecoin,” Santos explained.
“My singular focus is to create an onboarding acquisition channel for the next 100, 200, 500 million users that will come onchain.”
It sounds pretty bullying to me.
Something Santos explained to co-host Jason Yanowitz on this morning’s Empire Round Up — was his idea of building Berkshire on-chain.
Santos explained the analogy “would be what AOL did at the peak of the .com bubble. The stock was quite inflated, so what did they do? They go and acquire Time Warner, a real business,” He said.
“And I think the role [of] the foundations is to really accelerate the adoption of crypto, the uptake. I don’t think they’re being strategic enough. The opportunity here is to use, eventually, that Treasury value in a very strategic manner to go and acquire businesses and anchor them to the chain and activate that user base to come on chain,” He continued.
Santos says that, when executed well, the “flywheel” for economic activity in that chain would be to go and constantly acquire new businesses and users. This will generate more and more activities.
Santos is also a good example of bringing it all back to Berkshire. It’s about creating a platform from which it can explore different ways to make money and not have to focus on the users.
Think about Warren Buffett (and forget about your anti-crypto thoughts) if you aren’t following along. The company is a good investment, but Berkshire doesn’t have a lot of interaction with its customers.
As necessary as shadows, they exist as a background.
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