How did I buy Tesla stock on Twitter?

Original Source: Fat Garage

Original Author: Miao Biter

Last Friday at 2:30 in the morning, my roommate went to the bathroom Seeing me watching in front of the computer, "What are you doing if you don't sleep?"

"There is a 10% discount on Tesla shares today"

This is the "liver" conversation between the two of us last night. I never thought that my first purchase of US stocks was on Twitter, and I used digital currency— —WBTC (a bitcoin mapped on the Ethereum network), the whole process only used my digital wallet (imtoken) and Twitter, and it took only 3 minutes to complete the exchange.

You can also buy 0.86 shares

The driving force behind all this is mask and mirror.

We look forward to bringing more mAssets into the Twitter world via @realmasknetwork, enabling disenfranchised users to access more premium assets.

——mask network

Jessie's Twitter

The whole logic is roughly like this:

The mapping of assets such as stocks in the real world on the mirror, Convert to digital world asset mAsset ($mTesla)

wbtc,okb,ust are native digital assets as a medium of exchange, such as wbtc is btc on the Ethereum network Mapping, ust is the token of the mirror network, you can use these types to exchange for $mTesla) Waiting for the question (in short, there is a premium), I want to talk about the intuitive impact of this matter and why I think it is a "big event".

ITO: permissionless ownership economy

First of all, the psychological shock it brought me is extremely Big one, I wanted to invest in US stocks several times, but was discouraged by the cumbersome process. I can't imagine the painful experience of buying high-quality stocks before crypto (and have to endure Robinhood that doesn't let you buy it if you don't want to buy it), I just want to enjoy this convenience without anyone's permission, all I need is a wallet , a decent network and 3 minutes. With crypto and blockchain open protocols, this is actually happening.

Why are these assets on the chain? There are more than 95 trillion U.S. dollars in stocks and more than 100 trillion U.S. dollars in fixed income in the world. Why should these investment products have anything to do with the blockchain?

First of all, at present, when trading stocks, the ownership of the asset, similar to the title of a house, is not held by its owner, but by a central database Maintenance, in the United States, is held by one of the four major players: The Bank of New York Mellon Corporation, State Street Corporation, Bank of America Corporation and JP Morgan Chase.

Decentralized exchanges (DEX) will enable verifiable on-chain ownership of assets that actually belong to those who hold them. Getting people to “own” shares directly is the most important thing, Balaji said.

balaji's tweet

Jennifer of the Latex Foundation also made a strong statement earlier,

“From a financial asset perspective , now no one in society really owns what you think you own. For example, when you buy stocks, what you get is not a stock, but a statement, which proves your ownership of a certain stock and is an IOU given to you by your counterparty. Everyone It is intuitively understandable to go to the bank to save money. In fact, you create a debt for the bank. The same is true for securities institutions in the asset field. In order to prove that you own this asset, you need to prove it one by one by the transaction party, broker, custodian and other institutions You really own this IOU. When you sell assets, you need these institutions to prove that you can sell this IOU.

In the past 40 years, The global financial system has increasingly developed into a debt model of indirect ownership. The result is that investors do not directly own what they think they own. Therefore, "direct ownership by investors" is the definition of the financial industry driven by blockchain technology. A big innovation. "

Mask's putting Tesla stock on the chain is actually creating a permissionless high-quality asset entrance. I think ITO is a genius idea. If the scope of this idea is expanded a little, then not only stocks can be chained, but also digital business and even physical business.

Listed companies are mirrored stocks (synthetic assets)

Decentralized organizations and individuals And any physical or digital business, it is the original token or NFT

Token: both consumption and investment

Generally speaking, buying a piece of clothing or paying for an article is equivalent to spending money on consumables. So what if we turn the same amount of money into consumption + investment? Is it possible for money spent to become a continuing interest while owning an item? That's what Jo and I want to do through the tokenization of commerce.

Jo is combining her brick-and-mortar business with the blockchain to tokenize her clothing brand. People buy clothes in crypto instead of RMB/USD. Why do you want to do this? From the buyer's point of view, the form of on-chain turns pure consumption behavior into investment. Imagine that we create a wild fashion brand together. Token holders can participate in the design of clothes to a certain extent, and its price is determined by the market. As shareholders, token holders can not only own the ski suit itself, but also obtain benefits from changes in token prices.

Tokenize a piece of clothing< /blockquote>

If a product itself is digital - I want to do an analysis report on chain data recently, can it be tokenized? For example, I will give some expectations at the beginning: what is the subject of the research? What are the parts? What will be studied in each section? If people think this report is valuable, they can get the corresponding FGC token by donating. In the end, the ownership of this report is owned by the tipper, and each tipper is a shareholder of this essay. There is no upper or lower limit on the amount of crowdfunding for this essay, and the value expectation is completely determined by the community/market. It could be 0 or several ETH.

Tokenizing an essay

< /p>

tokenize a cultural and creative product ( Roam Logo obsidian pendant)

The idea I started in 2019 was to reward all the fans of Fat Garage, return their corresponding token You can use this token to exchange other rights and interests in the fat garage, such as automatically adding a "Bounty Program", or participate in a fun business, such as supporting a ski suit or Roam's small creative store*, Or to be more exciting, participate in an ITO...

*Roam Chinese Station has recently set up a cultural and creative store spontaneously, and began to design related peripherals, such as the metal in the picture pendant.

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