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Open a brain hole: Ten years later Tesla + NFT + DeFi = ?



Two days ago, I had a drink with an early supporter of MakerDAO. The boss answered a question that I have never understood. The ability of financial institutions should be to create credit and optimize capital allocation, but like MakerDAO This kind of over-collateralization is closer to the form of a pawn shop, and the efficiency of capital utilization is not high, which is inconsistent with his vision of a decentralized central bank. The boss said, if you think about it from another angle, MakerDAO now only supports Ethereum and Bitcoin as mortgages, but his imagination is to allow all assets to be issued to generate liquidity. With the diversification of collateral, The right to issue currency will gradually be transplanted to private enterprises and individuals, which is the most powerful. Look at this bottle of beer. If everyone recognizes its value, then its owner and production company can monetize it without the need for centralized financial institutions to participate.

Federal judge ruled that crypto firm LBRY sold tokens as securities without registration: Jinse Finance reported that a judge in New Hampshire ruled on Monday that cryptocurrency startup LBRY sold tokens without registering with the U.S. Securities and Exchange Commission (SEC). Its native LBC token violates securities laws. The SEC sued LBRY in March 2021, saying LBC tokens were securities and that the startup violated securities laws by selling them without registering with the agency. LBRY fought back, claiming that LBC tokens are not securities and that the SEC failed to give it fair notice that it was selling LBC to comply with securities laws, thus violating the company’s due process rights. The judge's ruling on Monday means the case will not go to trial. A status hearing is scheduled for Nov. 21 to determine next steps. (coindesk) [2022/11/8 12:29:34]

So, I had a brain hole, what kind of process should Tesla be mortgaged to issue coins in the future?

Fund shareholders urge Meta to lay off 20% of its staff and limit capital expenditure: On October 25, a shareholder of Meta Platforms (META.O) and an active-zce technology-focused investment fund, Altimeter Capital Management, issued an open letter urging Meta CEO Zuckerberg to implement layoffs and restrictions A plan for capital expenditures. Altimeter holds 0.1% of Meta’s shares and proposes three specific actions to increase Meta’s net cash inflow, including cutting manpower by 20%, reducing capital expenditure by at least US$5 billion, and limiting the amount of investment in Metaverse to less than US$5 billion. Altimeter believes that Meta's investment in Metaverse is too large to meet Silicon Valley standards. (Golden Ten)[2022/10/25 16:37:42]

Vehicle price evaluation is already a very mature system. Existing vehicle dealers have a mature database. Enter the vehicle id (VIN) to know the specific model, age, whether it has been overhauled, etc. important basis for valuation. The actual situation of the vehicle inspection can be completed by a very simple algorithm. As long as the fixed position of the vehicle is photographed and scanned, the existing machine learning model can easily determine the condition of the vehicle paint and interior, and verify the authenticity of the vehicle mileage. to verify. If Tesla opens up the vehicle's internal sensor chip permissions to valuation tools, it will be able to better read the machine's operating conditions and accurately value the vehicle. Assuming that ten years later, Tesla will still be the best-selling new energy vehicle in the market, and the second-hand car market is very transparent, then this valuation model can be very accurate.

Oasis, the privacy computing network, started an 8-week hackathon: On March 10th, the privacy computing network Oasis has now launched a hackathon on the Devpost platform with the theme of OasisBloom, which will end on May 2, 2022. In the next 8 weeks, developers can build track solutions such as DeFi2.0, P2E and GameFi based on OasisEmeraldParaTime (compatible with EVM) and submit projects.

The event received support from Jump Crypto, Newman Capital, NeoGlobal Capital, and Hashed, among others. In the end, 7 projects will stand out and receive a total prize pool of 200,000 US dollars, and have the opportunity to receive additional financial support from the Oasis 200 million US dollar ecosystem development fund. In addition, eligible entrants and winners of this event will receive commemorative NFTs and identity badges. [2022/3/10 13:49:13]

Here it is necessary to tokenize the ownership and control of the vehicle. As long as Tesla is willing to open the interface, it is also very easy. Enter the evaluated vehicle information (asset information) into a token. This NFT token represents the ownership of the vehicle. The transfer of token is equivalent to the transfer of vehicle ownership. Each token is equivalent to the unique A car key. After the Token is transferred, the original owner loses the ownership of the vehicle, while the new owner gets the key of the vehicle.

Israeli authorities seize 30 cryptocurrency wallets related to terrorism financing: On February 28, Israeli Defense Minister Benny Gantz ordered the seizure of 30 cryptocurrency wallets and 12 accounts related to terrorism financing. The crypto wallets are understood to be linked to Al Mutahadun Exchange Company, which is owned by the Shamlach family in Gaza. The Al Mutahadun crypto exchange was once listed as a terrorist organization by Israel's National Bureau for Countering Terrorist Financing (NBCTF) in 2021. (Finance Magnates) [2022/2/28 13:28:14]

Imagine that OpenSea or other NFT trading platforms 10 years later have already supported Tesla second-hand NFT transactions. At this time, there are two options for car owners. On the one hand, they can trade directly. With the sale of NFT, The ownership is directly transferred, the owner gets the funds, and after the buyer gets the NFT, the vehicle can automatically drive to the buyer's portal?, and activate the vehicle with the token in the digital currency wallet.

On the other hand, the owner can also mortgage the NFT of the vehicle, provided that the DAO agrees to add a certain model in a certain year to the pledged asset category. An NFT corresponds to the ratio of the value of the standard vehicle. The owner is in MakerDAO or On other pledge lending platforms, you can pledge your car's NFT to obtain stable coins equivalent to US dollars to meet daily living expenses. The car is still owned by the car owner, and the funds can be invested in various DeFi Among the interest-earning assets and transactions, the vehicle mainly pays an interest to the platform on a regular basis, which is equivalent to renting the right to use the vehicle.

The biggest problem for the pledge lending platform here is how to make an oracle machine to obtain a reasonable asset value, which will not be manipulated by the company or the dealer. It is estimated that there will be a set of Tesla The price of the second-hand tesla-u on the centralized exchange maintained by pull, and the price of the second-hand tesla-u on the decentralized exchange maintained by the dealer. If the owner does not return the borrowed funds along with the fixed depreciation, or a major accident occurs to the vehicle, the sensor on the vehicle alarms, and the value of the vehicle plummets, the ownership of the vehicle will not belong to the owner at all, and the vehicle will drive automatically. Go back to a certain outlet of the foundation to complete the liquidation of the pledge.

For Tesla owners and Tesla, the whole process is actually a mortgage loan without a bank, completing the currency creation process, and does not rely on any centralized financial institutions to participate (except Tesla pulling the enterprise itself), virtually wear-free and ultra-efficient. In addition to policy reasons, Tesla’s support cannot be guaranteed, and the long-distance automatic driving part is still a bit of a fantasy. The basic technologies used in the whole process are already very mature, and it may be a matter of time before actual commercial use.

If the blockchain is to be applied on a large scale, the first is to have a profit-making effect, the second is to be standardized, and there is a very simple valuation logic. For example, the public chain used to look at TPS, DeFi, and TVL. Easy to operate. NFT is now concentrated on artworks, earning enough traffic and eyeballs, and satisfying the short-term profit-making effect, but because of the particularity of artworks, there is a big gap in valuation logic, and the confirmation and circulation of offline artworks are more complicated .

Personally, I am more optimistic about the NFTization of native digital assets such as game props, domain names, icon designs, etc., and complete currency creation by superimposing DeFi. And if it can further introduce asset packages like Tesla's use rights, the blockchain will really subvert centralized finance step by step.

Written by: Zuo Changbai, Cobo VP, former TokenInsight co-founder


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