All markets tend to gravitate to consolidation – this happens because the competitive urge to beat the other guy to a pulp has a snowball effect in markets. Throughout history, organizations have exhibited this behavior be they Standard Oil, US Steel, De Beers, AT&T, Google, etc… In the 21st Century, modern finance’s juggernaut is BlackRock.
According to Business Insider, Larry Fink’s company oversees $21.6 Tn in assets. His clients include the US government and F10’s like Apple & Micorsoft. Like a blackhole, BlackRock is an irresitable force in finance that will absorb whatever the hell it wants & its’ sights are on crypto.
As Guy points out in the video below, the reasons are clear- the war on cash is accelerating and blockchain is the proxy tool for the job if you believe his
narrative. In a way, USD stablecoins are a plan B to a Fed backed CBDC that may never see the light of day; simply because such a tool could make the existing banking system obsolete.
Imagine getting an airdropped CDBC straight from Uncle Sam to a Fedcoin wallet on your phone. Where’s the banks in that world? In that world, the Fed could play all sorts of new shell games with the economy that would exert far more control than they have now. The possibilities are endless, and everyone working on this stuff knows it. Whether the US Gov and the Fed are up to the task is a completely different story….