Rubic Exchange with Collin O'Brien

Hi, my name is San Tito. This is CryptoKid Podcast. I'm going to be talking to you guys about blockchain technology and cryptocurrency. Hey, man, thanks for jumping on CryptoKid Podcast. Just real quick, why don't you tell the audience who you are and how you got into cryptos, because I understand that we have some similarities. Absolutely. Well, I'm Colin O'Brien. I work at head of marketing and

public relations for Rubik. Goodness, my first foray into crypto, my first inclinus to what it was going to be was way back in 2011. I almost bought Bitcoin, but I just had people around me telling me it was a waste of time, waste of money. And I was in my 20s and just working multiple jobs, trying to scrape by. So I just didn't look into it

too much more. I was dissuaded by those around me and fast forward five years or so. And 2016 things started registering with me again. And I started doing my own research in earnest at that time. I started learning about Ethereum and started learning about smart contracts. And that's when it clicked. It was like a like a light bulb went off. And ever since I've gone down

that rabbit hole, I've been absolutely addicted hooked. And I'm a huge tech nerd. So as soon as it as soon as it made sense to me, what we were looking at here, which was like the next big revolution for mankind. I mean, there's just there's no going back after that. Right. I'm like fully addicted. Because if you don't want to see free access to sweetbox, shopping,

and going ahead and seeing conferences and kitchen sceneries, I probably would be going through questions about hosting invitation. Ediffer Taylor Chris. I think it's probably one of the most pressing for just the general public to know. So when you create a blockchain network, it's based on a certain set of parameters, certain things that will be governing it. As such, you will have different blockchains that have

strengths and weaknesses. Some blockchains are going to just be faster. They're going to be able to process transactions really quick. You'll have other blockchains that are able to store lots of data in one's single block. You'll also have privacy chains or semi centralized chains that governments may want to use for keeping sensitive civilian information, you know, like DMV records and things of that nature. So there's

there's different network environments that these blockchains are going to have. And then those environments are going to attract applications that make sense to run inside those environments. So, you know, you'll have different applications that will cater to photo clouds. Those will be more towards, you know, the storage blockchain networks. You'll have payment processing. Those will gear more towards the faster transaction processing networks. So as such,

there will just be multiple blockchain networks in the future, just due to inherent limitations of the strengths and weaknesses based on how they are designed. And, you know, I'm a big proponent of the 80 20 rule, right? So there will be 80% of users maybe on one platform, 20% on a different platform or different network. And you see that reflected in industries all across the world,

right? Like an easy one that everyone is able to recognize is soda companies, right? You have Coke, you have Pepsi. There's a whole bunch of distant thirds, but you have two main competitors. Same like in the video game industry, right? You've got like Microsoft and you've got Sony and then you have Nintendo is a, you know, a third. That will ring true as well for the

blockchain industry. So there will be multiple chains operating in similar, you know, parameters attracting certain applications because of the environment that they they host for those applications. So that is why there is going to be multiple blockchains in the future. I find it interesting that Walmart started using a blockchain to their industry. So that was, I was quite excited when I found that out. I was

like, whoa, really? I didn't know that. So yeah, it's just like the internet in the 90s. There's not a lot of people really understand it, but as time goes on, people will really start adopting it to their everyday lives, just like with digital identity and smart contracts, real estate, a bunch of other things too. Yeah, I couldn't agree more. I think that where blockchain is right

now where web three development is right now is very comparable to where web two internet was in the late 90s or really 2000s. We've yet to really establish who the big players are in the industry. Everyone is still trying to find their identity. And we haven't really had the first applications yet that are that are so, you know, needed by people. And so desired by people

that it creates that network effect where people just start onboarding rapidly and start jumping into this new ecosystem. I agree, I agree. Now cross the line. So what's the most important thing to do with blockchain? What is the importance of having the ability to move value between blockchains? Well, I think it's, it's critically important if people are going to use applications on their mobile devices the

way they do today. Let's assume you have a popular application like Venmo, right? And that's located on a blockchain network that handles payment processing. But you are looking to, you know, download or print out Google photos and have that to, you know, to go to a company like Vista print or something, right? How do I move the value from the application that's on one network to

an application that's on another network. There needs to be some type of protocol operating on the back end that's going to facilitate the transfer of that value between app environments. So that's the huge, the huge, you know, deal with crosschains. There is going to be multiple blockchains. How do we make it that it seamless for people to be able to use applications the same way they

do for web to without any complication or hassle, which has existed in the space for the last few years when we started creating all these layer one and layer two blockchains. That is where Rubik comes in and that's where we're just trying to make it easy for people to use applications that they use right now without even realizing all this complicated stuff is happening on the

back end. Dude, I remember when I got back, when I got into it, like, started investing in 2017, it was so simple. Just to like jump on, jump on Binance or another popular exchange. And it was just like so quick and the snap of a finger note. And now it's, I feel like it's, it's complicated. Now you have to have a authenticator, you know, two step

authenticator. And, you have to put in your social security number and like, the technology was designed to be where nobody knows who you are and you could just like transfer money to peer to peer without, without anybody really having an idea what you're doing. Yeah, I think, I think there needs to be huge strides made in the realm of digital IDs. If you look at certain

applications that we use on our mobile devices today, there's a lot of them, at least for sensitive information, if you log in to, you know, a banking app, for example, you normally need to use your, your biometric ID, right? So you're taking a fingerprint, some applications even go as far to do facial scan recognition now using your phone. And then even one step further, where you

have to put in a phone number, and they'll actually then text you a code that you then need to enter. So you have that additional two factor authentication on top of biometric ID. So, it's just a very, very, very important thing that you can do is to have a full picture of a screen, to figure out who you think is right. So, I think, you know,

a lot of these signatures. I think something like that needs to happen for crypto wallets. I know that there are people in the industry that are working on that right now. So the sooner that comes to light in the masses can adopt that as opposed to like 12 or 20 Word, 24 word seed phrases. That's just to cumbersome for the average person to deal with. It's

far too easy to lose that information or to just have somebody steal that from you. It's no different than linking a checking account right now and it's no different than utilizing any sensitive apps. That's when we'll be able to make major strides in terms of onboarding the general public. Okay. Thank you for clearing that for me. Rubik SDK, what is it? Why is it beneficial for

businesses and users alike? Yeah. So, you know, it doesn't matter if you build one of the most amazing things in the world that other people can use to, to, you know, move this value from this to that. If they have to go to one centralized location to do it, right. It's an ethical to making it easy to use. So what we've done is we have built

our entire platform into a very, very easy to integrate software development kit that any current web to or web three applications can natively integrate into their app and then have full cross-chain functionality. They have the full suite of what Rubik is offering. And right now, as of late October 2022 is 21 blockchains. We've got about 70 plus dexes. We've got dozens of bridges. And we have

over 15,500 tokens available inside of our ecosystem. So anybody that integrates that SDK into their application now can reach all of those crypto users across all those different blockchain networks where all of that value is currently locked. Think last glance, there is $55 billion in total value locked across 100 plus blockchain networks. So there's a lot of money out there. As we, as we progress in

the industry, there's obviously going to be a consolidation of blockchain networks, but we intend to cater to all major blockchain networks and all major app ecosystems. We're getting all liquidity pools, AMMs, decentralized exchanges, all bridges, all potential routes that the money can flow from one network to another to make it easy for people to just use their crypto inside any application that they're using. So the

end goal is people are using Rubik without even realizing they're using Rubik. They're just using the apps they know and love already. But now there is an additional layer of being able to use crypto for payment. Okay. Okay. Now is multi-chain or cross-chain crypto technology the future and by future I mean like where it's going to be part of money, governance, and law. Yeah, it's, I

think we probably as an industry as a whole probably need to do a little bit better with like the naming of things, right, because it is so easy to mix up the two. Cross-chain is specifically enabling assets to flow, but it's going to be a lot of money. So there are a lot of different platforms that are built between blockchains with the help of smart contracts.

Multi-chain refers to projects that are based on several blockchains at once. So there will be multi-chain applications that are built on multiple blockchain networks to cater to those different users, right. But then there will be that cross-chain where you're able to then switch and move data back and forth, move value back and forth between those blockchain networks. So both of them are going to be a

lot of money. They're going to be part of the future of the blockchain industry. And again, I think we could probably do a little bit better renaming them or coming up with some better acronyms or something to differentiate the two, because they're both, they're both going to coexist, right. Multi-chain is just things that exist on multiple chains. Cross-chain is specifically moving things back and forth between

blockchains. Yeah. And I know it scares people too. It sounds like very complex. And it does scare a lot of people away. And just like, you know, I just, I don't really understand. I just don't want to get into it until then there'll be too late. It's just like you'll be forced to get into it. Because pretty soon your employers or businesses are going to start

paying people with crypto currencies and start using a blockchain technology for their company. Now I believe that this could create a new economy. Like crypto as a financial system. And what happens currently in the market? Like what's your opinion on what's happening in the current market with the new economy coming? Does that make sense? Yeah. I think what we are seeing right now in terms of

global economic turmoil, right, is the death throws of the fiat financial system. You know, there are a lot of things that are going to happen. It's just, it's almost funny money a lot of the time, right? They just keep printing and keep printing and keep printing. Trillions and trillions of dollars. They're, you know, and you hear the world economic forum talk about this great reset. I

kind of agree that that is something that is inevitable at this point. Because the entire system, as it was created, was doomed to fail from the beginning. Just from a math perspective, from a logical perspective taken into account, just human nature. It was eventually going to be exploited like it is right now. And we're going to see it collapse that system. What will replace it is

a central bank digital currencies replacing fiat. So there will be a cashless society. I think there's no putting pandora back in the box. The technology exists. The technology is there. It's, you know, a tax collector's dream, right? Because you have every transaction recorded on the blockchain. And it's immutable. So there's no, there's no dooping the system. And you may agree or you may disagree with that

future with that system. But I am pretty confident that that is just the way things are going to be because it just makes sense logically math math. So when we do get there, when they do start issuing central bank digital currencies in lieu of cash, we're going to see this transition, where we're going to rapidly digitize everything, not just cash assets, but physical assets as well.

So anything and everything that can be tokenized, I believe, will be tokenized. And right now that the application of NFTs is mostly for art and things that are not going to be used. It's a sense of that nature. But I see NFTs as being a cornerstone of future society. They'll be proof of purchases. They will be receipts. They will be invoices, bill of ladies, certificates, licenses,

deeds, titles. Everything that we have that is sensitive or, you know, in the real world in a real tangible sense documents contracts, everything will be converted into some type of token that is then immutable. Then locked in a, you know, a block on the blockchain network where we can then always go back historically and find that information. That is going to create a whole new structure

of economy. Entirely new business models are going to arise as a result of it. And it's going to reshape the way we think about business. Okay. Okay. I'm glad you brought that up about about everything being digital and coming to cashless society because I got I went to Washington DC. This past spring. And I got to meet the ambassador that you and Dino. I don't know

if you heard of him. But he's he's a part of the government blockchain association and so am I. And we were we were. We were. Discussing things at the conference about like world peace and how blockchain technology will help prevail that. And you, you asked basically I'll give you a short answer. It was yes. And it kind of opened my eyes. I was like, wow, this

is like this is really coming to reality. And a lot of people don't know it or people that just don't want to accept it. Yeah, I think there's there's going to be pushback right. And I think that's a that's a natural human response to change, especially when we've had a system that's in place. The current accounting systems that we have have existed for thousands of years.

It's only in the last generation or two that we started to digitize our accounting. But that bits and credits have been kept on a record the same way pretty much up until now where we don't need third party in a midi series that are acting as a form of trust, right? We are now able to perform actions with an unknown party in a way that is

trustless and permissionless. And that in and of itself is going to remove so many barriers to enable people to interact with each other more freely. Business is going to be able to thrive without those third party skimming off the top and an obstructing. You know the flow of money and the flow of of commerce. And then you have all of the unbanked coming into the global

economy. I mean we are right now already a global economy, but you have well over a billion people who do not have a bank account. And these are people that can be producing the active in the global economy. And I think when they finally are. You're going to see more small businesses in those local areas start to form because they're able to tap into something that's

bigger than what they have just locally geographically in their area. And again, there are so many new business models and there's so many. There's so much potential for the human race as a whole that I think even the smartest most prescient people today. It would be wrong on guessing where the future humanity will be in the year 2100. I think we're headed down this path of

true globalization. And again, you can agree or disagree with that. But I think it's an inevitability. And I think it's important to just recognize that. Like before we created the airplane, for example, it would have been unfathomable to people to globe trot for people to move from not just country to country, but continent to continent. So easily and so freely and cheaply that it enables business

to thrive in a way that was never possible before. So the same way those revolutions, in that sense, the transportation revolution greatly affects commerce, greatly affects business, greatly affects mankind. I think that this is very similar. This is the next revolution. This is the data and financial merge revolution. And you know, I think that's the most important thing. It's going to be a very, very exciting

time for humanity. And I'm thrilled to be kind of at the tip of this spear. Likewise, likewise. Now people that are involved with the technology now. How can they scale up their business with crushing Web three? Well, right now it's really tricky because there's very low sentiment surrounding the blockchain industry. A lot of bit projects and businesses. In Web 3 right now are very heads down,

very focused on building up their projects, building out their platforms, their applications. But I think in this next run, you know, sometime in the middle part of this decade, we're going to start to see these Web 2 tech giants and, you know, all the other applications move away from centralized server centers to host their applications to host their data storage and they're going to move towards

this Web 3. I mean, right now, cross chain is going to be fundamental in terms of how the rest of the blockchain industry evolves. So, you know, we're just hoping to position ourselves as a baseline protocol now because the foundation of the future of the industry is being built right now. So I liken it to TCP IP or HTTP. So I think that's the most important

thing to do. So it's very important to be for Web 2, right. Those were baseline protocols that had to exist to even facilitate or entertain the growth of the industry. And I feel like that that is what Rubik is doing. We're building this software development kit to try and create this unified protocol. Where applications will be able to just easily install that integrated into their application

and then access all of the blockchain industry. Now is Rubik using C B, D, C. Well, we're using stable coins right now. We offer that as part of our ecosystem suite. So, you know, US dollar tether, US dollar coin, B USD. So we service all the different stable coins that are out there at the moment. I think stable coins will still exist even after CBDCs are

widely distributed across the world. But they won't be as important as the world. Because they will be supplanted by the functionality of the CBDC when the time comes. But yes, you know, companies like Circle with the creation of USDC. I think it's really amazing what that project has done. And they've basically gone through all the steps of basic, you know, becoming a bank and going through

all of that regulation and jumping through all those hoops and over all those hurdles. We're going to get different areas in Asia and in Africa and the Middle East as well. So yes, we service stable coins. And I think that those are going to play a huge part in facilitating growth in the industry. Because people are going to want to use their crypto in a tangible

sense. And I think it's going to take at least a few more years for companies to catch up and really start utilizing tokenized liquidity, tokenized value. So we're going to get a lot of money that you know, multiple different projects and businesses have been creating as like a store of value for them. All right. Now, should we have regulations in cryptos? I think right now is

a free for all. And there's a lot of Ponzi scenes going on. And people just raising money and then belly now on the company. I think the average person does not want to operate. They're going to have a great and an environment that is a gray area. Right. So you have a lot of people who are sitting on the sidelines right now, not investing, not jumping

into this, this, you know, burgeoning industry. Because of that hesitation, because there is not regulation in place. I do think there needs to be consumer protection laws in place for the industry. The same way we do right now have for the banking industry. At the same time, I think it's important to still embrace the ethos of decentralization. And empowering individuals to control their own data. So

I don't support like a totalitarian authoritarian style of top down governance for the industry as a whole. But I do think it's important for individual nations to recognize the needs and wants of their own citizens and create laws accordingly to, you know, to cater to that. Having said that, I do think that's a great thing. I do think it's important that as all of mankind, we

come up with some type of global digital constitution, a set of basic ground rules, you know, grounded in logic, not emotion grounded completely in logic, that we can all agree upon as being fair to everyone. When we get something like that in place, I think that it will be a good thing for the industry. A good thing for the average. Now is a private sector competing

with CBDCs? I think when the time comes, they will be kind of pushed aside, because you can't really compete with the trillions of dollars that central banks can produce. Yeah. That's tough one. Yeah. How keep up with blockchain movies? So fast. Like, what can people do to stay on top of things? Well, honestly, read as much as you can. I mean, I'm a huge proponent of

that that goes for anything that you want to stay on top of. They're learning more about, you know, read differing opinions. Stay on top of news as much as you can. Though I do warn people that crypto, unlike other industries, is 24 sets. So I think that's 7.365. It doesn't sleep. It is a global industry. So you need to time manage and, you know, still keep

on top of everything. All the different projects that were up and coming. It can be a little overwhelming. And then, you know, on top of that, you're reading all of this stuff that you don't know, I do what this any of this means. So now you need to do another dive into. Okay, what, what is all of this stuff? Right now you're going down another rabbit

hole. And so just, you know, be cautious about how much you're exposing yourself to it. But if you are genuinely curious and you do want to know more, I would say just read as much as you possibly can from as many different types of people and as many different sources as possible. So you're not getting a new wants echo chamber view of the industry. You're getting

a, you know, a general overview of the industry from multiple different people. Yeah, you have to do your due diligence. And honestly, dude, I feel like every time I look at it, I look around, there's something else coming out like defy decks, de apps, I'm just NFTs, I'm just like, I just learned this. I was just digging into something. And then another thing comes out and

I'm like, oh my goodness. And then on top of that, I'm working. I'm hoping like my family, because they own a restoration business. And we just got hit by the hurricane. I'm just like trying to do these podcasts and keep up with the new technology that's coming on. It's like, oh, so yeah, you can use your head a little bit, but don't let that discourage you.

Just keep, keep pushing on and just baby steps. Absolutely. And you know, it's not a sprint. It's a marathon. So I think that's important to keep in mind to anybody listening to this right now. You are still very, very early to the party. I think we are in earnest to additional cycles in the industry away from. Getting to mass adoption. So I think we're going to

have another bull run sometime around, you know, 2024, 2025. And then I think we'll have another one sometime between then and 2030. And these are healthy growth cycles for the industry. You can't just go up forever. Right. Like there needs to be a pullback and a contraction, a consolidation. And then the next leg up. So I think we're going to see two more major cycles in

the industry. And then we're going to see the next leg up. So I think we're going to see two more major cycles in the industry. And then we're going to see two more major cycles in the industry. Before we get to that point. So if you are listening to this today, if you are involved in the industry right now is a novice beginner, you are still

way ahead of everyone. It's something like 3% of people around the world own any crypto. And the vast majority of that 3% is a meme coin like doge or, you know, some other, some other meme token that they own very little of it. They own, you know, a humorous amount of money. $20. It is really funny because I felt like I was missing the boat back

in 2017. Like for that, that whole bull run, I was like, oh my gosh, I'm late to the game. You know, like I should have gotten back in it when it was like, you know 2011. I should have gotten into Bitcoin. Then I could have gotten into Ethereum back in 2013, 2014 when they had their launch. And, you know, you're still early. You're still to take

it from somebody who's been in the industry for a while now. I can safely tell you. But yeah, it is early. It won't be until I think 2030 that things really hit their stride mainstream and you'll start to see the growth of the industry slowed down. But there will be a period of time, sometime in the next five to 10 years, where we do see mass

adoption, where millions of people per day are jumping into the ecosystem for the very first time. I personally believe that that day is going to be when governments around the world, start issuing CBDCs to their citizens by saying, hey, we're going to let you do this transaction with your bank to convert all of the money in your checking and savings accounts into CBDCs for one time

no fee. And then we're going to just see such a rapid adoption of crypto and Web 3 around the world. You know, who knows what nation is going to lead that charge. But I do believe that when that day comes, we're going to see so many people jumping into the ecosystem. So, I think the industry is jumping into the industry so quickly. It doesn't matter how

well we prepare in the industry. It's going to make our heads spin. I agree. And plus, everybody has to start somewhere. Right. Absolutely. So jumping back to Rubik chain are the Rubik's change. Is there fee trading? So right now, what we do is, it's $1 per trade. It doesn't matter how big that is. We do offer people who integrate our SDK, the option to choose between

either 0.3% or $1. That's completely up to them. It's at their discretion. Though we do incentivize just the $1 fee. As time goes on, that may be something that we put to a governance vote for our token owners. They can decide whether or not they want to reduce the fee or what have you. But if you do own more than 5,000 RBC tokens, that exempts you.

You can do from any fees on the platform forever. Now, what is fee sharing, though? Fe sharing is what we do with people who integrate our SDK. So that $1 on a transaction. If somebody does a cross-chain swap within an application that has our SDK integrated, 50 cents would go to Rubik. 50 cents would go to our partner who has integrated our SDK. So to any

of you businesses out there listening or to any of you developers, it's just additional revenue for your business to integrate our protocol. And everybody likes additional revenues. So we're coming close to the end. Is there anything you would like to share, like any events, any upcoming like drops that are about to happen with Rubik? Well, we do have Kava Network Integration coming up pretty soon. We

also have Hedera Hashgraph Integration coming in November as well. It is going to be a wild 2023 for Rubik. We are doing kind of an internal rebrand of the product and how we're catching that to the public and to other businesses. So we have more information that we're going to be sharing. I can't get into it too much. But we are basically expanding our software development

kit to include more than just decentralized exchanges and bridges across the 21 plus blockchain networks we have now, Oracle's, Signals. We're looking to expand our protocol to encompass every aspect of and to cater to Web 3 in a way that no one's really thinking about right now. But really again, it's about empowering businesses to enable their users to be able to experience Web 3 without even

realizing they're using Web 3. The only thing that will change I see in the future for people that are using applications from a Web 2 to a Web 3 app would be as opposed to connecting a bank account, connecting their crypto wall. That's it. So yeah, we've got some really exciting things store. We've got a lot that we're working on behind the scenes. Nothing that I'm

able to like share in detail right now. But I can tell you that again, that software development kit that we're building, is going to incorporate more than just what we have right now. And we are really going to aggregate much data and is much value across the industry as we possibly can. And just make it for people to use and interact. Dude, you had me at

the edge of my seat. I thought I had you for a second. I can't. Yo, I really do appreciate you coming out on the show and I'm honored. And I wish the best with your endeavors. And I hope you have a great night or awesome. Thank you very much for having me. Take it easy, man. Did you know that podcasts are a great way to grow

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