BlackRock's Larry Fink: "Tokenization", Digital IDs, & Social Credit

https://thewinepress.substack.com/p/tokenization-blackrocks-larry-fink

by sbuttgereit • 9 months ago

90 76 9 months ago

thewinepress.substack.com

viccis• 9 months ago

You first, Larry. Any functional social credit would have him at "untouchable" levels.

cattown• 9 months ago

Use cash. Get cash out at the ATM, keep it in your wallet. Spend it at local businesses. Even if you can’t do it all the time do it as much as you can. Start today and stick with it.

Otherwise this is what we’ll be stuck with everywhere all the time. There won’t be a choice anymore if you don’t exercise that right. We’re already far down this slippery slope.

idle_zealot4• 9 months ago

And advocating for mass individual consistent behavioral change is less than useless. If you want change you need political organization. The sum of public opinion is more influenceable than the sum of everyone's actions. Unfortunately, in the US it's not so simple as "vote for the party that's against this" as we only have two and neither are. Which means if you want to be effective you should throw your lot in with an advocacy group. In this case probably the EFF, maybe the ACLU?

sequin• 9 months ago

Many people (not the EFF or ACLU, lol) saw it coming years ago and put in a monumental effort to try to turn to tide, only to be relentlessly repressed and dehumanized by bolsheviks and idiots.

leptons4• 9 months ago

we only have two and neither are.

Both sides are not the same. One side wants to criminalize protests, the other side actually respond to protests. So vote for the side that will listen to protests.

mmooss2• 9 months ago

advocating for mass individual consistent behavioral change is less than useless.

Again, the trend is to sound smart by saying it's hopeless. We behave much differently than prior generations in many ways. Heck, look at the rise of neo-right wing politics, the manosphere, YOLO investing, etc. Look at smoking, recycling, etc. Look at people using social media, when cell phones weren't universal for their parents

It doesn't require politics.

jongjong• 9 months ago

How does clutching to colored pieces of paper solve any problem? IMO, it only reinforces the pathology which is the cause of many of our problems.

mmooss2• 9 months ago

You can't be tracked.

obviouslynotme• 9 months ago

I completely agree with you, but you cannot stop this train. Cash will continue to exist only as a loophole to be exercised by rich and connected individuals. Everyone else will be robbed by police for having "suspicious amounts of cash."

stronglikedan• 9 months ago

Spend it at local businesses.

The ones that still take it, anyway.

29athrowaway2• 9 months ago

A reason to use cash is that transaction fees (like CC fees), over time, tend to eat up all the original money being transacted.

On the other hand, cash is a germ superhighway.

hoppp2• 9 months ago

Taking out cash from ATM has higher fees often than using the credit card to pay

hoppp2• 9 months ago

Some countries almost completely cashless now. No escape from big brother

AlexandrB• 9 months ago

What I find funny about this is that cryptocurrency - a supposed way to create a currency independent of bank or government control - laid the foundation for this. Look at all the terminology Larry Fink is throwing around here: tokens, ledger, fractional ownership.

Good stuff, thanks guys!

IncreasePosts• 9 months ago

Cryptocurrency did not lay the foundation for a ledger. That's been around for over 500 years. And fractional ownership was well understood before computers, but viewed as not worth the effort.

gessha• 9 months ago

In popularized the terms because cryptobros made it their life mission to advocate for it. The sermons had to explain all the terminology GP mentioned.

kogasa240p• 9 months ago

Read the Great Taking book, it's a bit kooky in some places but a good read nonetheless.

storus• 9 months ago

Dude who became powerful by the simplest business model in existence (buying S&P winners with other people's money, selling losers), suddenly gets to set the policy for the rest of the world. Index funds should never be allowed to vote in corporations they own as their business model is just a simple rental of success.

gruez• 9 months ago

You're barking up the wrong tree with this because index funds typically vote according to whatever the proxy advisory firm's recommendations are.

https://en.wikipedia.org/wiki/Proxy_firm

slowhadoken• 9 months ago

Like forcing ESG wasn’t creepy enough. Social media is already too much herd mentality.

pharos92• 9 months ago

Hate is a powerful word. But I really hate this people. If you work on these projects, shame on you.

zigzagger1111• 9 months ago

Um. This is a disturbing article but the source is a Christian website monitoring for the Apocalypse.

sbuttgereit• 9 months ago

It's a fair point. I actually posted the article mostly to get discussion... and before I realized exactly what the rest of the website was about. So I would urge taking things in that spirit, including feeling free to call out that the assertions in the article are wrong in fact or interpretation.

I do think it raises some fair questions about the drive to certain forms of digital commerce and identification. Perhaps, just because you're paranoid doesn't mean they aren't out to get you.... at least sometimes...

For the record, I've seen no convincing evidence for the existence of a divine presence of any sort and don't support most of the site's messaging. Sure, we could be on the edge of real apocalypse, but am very doubtful that, should that day come, it will be the Christian Apocalypse or the same prophesied from any other faith for that matter.

zigzagger1111• 9 months ago

For one, the WEF is not actually aiming for people to "own nothing and be happy," as the author states.

EvanAnderson• 9 months ago

I remember the local evangelical TV station running "documentaries" about the "mark of the beast" and "cashless societies" when I was a kid in the early 90s. I assume this is more of that.

leptons4• 9 months ago

Way back in the 90's I used to date a pretty crazy Christian girl who saw my tech prowess as useful for fighting "the mark of the beast" which she thought was some kind of future government electronic ID. While she was kind of nuts about Christian conspiracies, I actually kind of agreed about where we were headed with electronic surveillance - even back in the 90's we kind of saw this coming.

zigzagger1111• 9 months ago

I'd prefer to read about techno-dystopianism from a source that isn't actively looking and praying for signs of the end of the world...

ForgetItJake• 9 months ago

It's interesting how people often have the same fears and enemies but express and interpret them in different ways.

varispeed• 9 months ago

That's how democracy was bypassed. Whoever you vote for, they'll do what Fink says, not what voters choose.

In the UK, it's the duty of MI5 to ensure such corruption of state doesn't happen. See how well they protect British public:

https://www.reddit.com/r/LabourUK/comments/1gx4qoa/keir_star...

https://www.gov.uk/government/news/new-digital-id-scheme-to-...

Security services should start doing their job and restore our democracies.

tcdent• 9 months ago

All you need to read is the manipulative marketing buzzword jargon littered throughout articles like this to realize they do not have your best interests in mind.

socketcluster• 9 months ago

I co-founded a holiday real estate-backed crypto project in 2019. We only raised $50k though. Just enough to buy 1 unit in South Africa. We started using profits to do on-chain token buybacks with proof of burn. We proved the concept but scale was too small with just one apartment. It was a really cool concept though. Too bad the powers-that-be didn't select us.

The main problem with blockchain projects is that they're not decentralized in the way that counts. You still have to be chosen by the powers-that-be. There's still only one path to success; just like the rest of the tech sector.

7thpower• 9 months ago

Which powers at be do you mean? I’m not following.

jpfromlondon• 9 months ago

Cronyism is inevitable at scale, the UK's digital ID scheme is an obvious recent example.

dekervin• 9 months ago

Is there an online presence for the project or traces ?

nakamoto_damacy• 9 months ago

Zionization

protocolture3• 9 months ago

World Economic Forum founder Klaus Schwab was effectively forced out of his own globalist

God I hate the word globalist

The WEF, as we know, is the controversial group that tells us that we, among many other controversial things, will “own nothing and be happy” by 2030.

The WEF hosts many viewpoints and doesnt have any real power, obsessing over them is usually the province of the same people who obsess over black rock which is where I am betting this is going.

BlackRock has massive amounts of control and leverage over thousands of companies across all sectors valued at $4.35 Trillion.

And there it is. BlackRock usually takes a very safe stake, 1-10% in a lot of companies. Their influence is usually incredibly overstated, usually by youtube grifters.

Trump has had a good relationship with BlackRock CEO Larry Fink.

Trump likes rich people, news at 11.

tokenization is the new monetary financial system quietly transforming the world

Holy hell. Most tokenisation projects take something thats already roughly abstracted as a token, like shares, or home ownership, and shifts it to the blockchain. "OMG MY SHARES ARE BEING TRACKED IN A LEDGER" yeah always were.

“It will be on one general ledger. Every investor, you and I, will have our own number, our own identification."

Every polity that I can think of already has investor tracking. ASX has CHESS. Trading and reputation systems are weak to sybil.

https://en.wikipedia.org/wiki/Sybil_attack

Clearly, tokenization and digital ID are inseparable

Trading and Identification are inseparable. Digital trading and Digital ID are obviously the same.

Digital ID is not just an app on a smartphone; that is the bait & switch. Digital ID is really about your personal credentials (KYC - Know Your Customer) tied to your internet and financial transactions.

Theres no bait and switch this has always been the case, and the app having KYC details is so extremely obvious that this article trying to twist it into extreme language is crazy. This is really "The elites want you to think the sky is blue" sort of shit.

In effect, digital footprints are the new credit scores.

Credit agencies have wanted this data for a very long time. There might be abuses. Those can be resolved legislatively.

Indeed, it is an unholy alliance: President Donald Trump yoking up with big-data harvesters such as Palantir, Oracle, and other big-tech companies to steal our private data and transactions, merged together with the likes of BlackRock, globalist institutions such as the UN, IMF, WEF, and the Federal Reserve and the BIS - Trump and Fink are working in lockstep together to build a digital prison state and a tokenized panopticon to usher in their “golden age,”

Read: Hi this is my first day on planet earth. Lots of these scary names are discussing things that frighten me, because I have never read a book or purchased shares in my life. Please hug me. Its impossible to steelman this raw fearmongering.

Of course, no scary article is complete without a bible quote

Revelation 13:16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.

Sorry but first up, the people who lap this shit up are largely idiots. I blame the US education system. If you have a problem with Credit scores, go do something about it politically. If you cease being american that will probably solve 99% of this.

zigzagger1111• 9 months ago

^^^^

phendrenad23• 9 months ago

The institutional investors operate in lock-step, so multiply the Blackrock stake by, at minimum, 3. Then take into account the massive reputational downsides to having institutional investors "pull out" of your company. I think that would make you untouchable to most of Wall Street. Just my opinion. The potential power here is enormous. Is it being abused? That's harder to prove. But when Larry says things like "you have to force behaviors" he really makes it hard to play devil's advocate.

protocolture3• 9 months ago

Then take into account the massive reputational downsides to having institutional investors "pull out" of your company.

I have seen black rock and others moderate their stake up and down in companies without it being even remotely newsworthy.

"BlackRock reduces stake in Sylvania Platinum to below 3%"

OMG Sylvania must be resisting the EVIL BIDEN DEI INITIATIVES!

The institutional investors operate in lock-step

If the goal is making lots of money, probably they would have reasonably similar goals. But thats not what BlackRock gets accused of most commonly.

you have to force behaviors

You mean this quote?

“Behaviors are going to have to change. This is one thing we’re asking companies. You have to force behaviors. At BlackRock we are forcing behaviors.”

I cant believe so many panties are knotted over a throwaway pick me inclusion quote.

Which Behaviors? Which Companies? Define Force?

Surely you cant suggest that this random linkedin article that dripped out of this idiots mouth is even remotely evidence?

devil's advocate.

Its not really faustian advocacy to fail to understand the huge deal being made of largely nothing. I get that conservatives, especially american conservatives, are incredibly stupid and will bite down on the oldest, flimsiest whiff of bait. But to try and pretend theres anything to it at all is pure insanity.

29athrowaway2• 9 months ago

The tokenization being talked about is minting digital tokens in a public blockchain to represent traditional assets.

Unlike decentralized cryptocurrencies, this blockchain is not decentralized and participating requires creating a wallet and having it whitelisted by a centralized controlling entity.

Some form of identification, KYC/AML process has always been required to be an investor or non-trivial financial transactions.

The benefits of tokenization over the traditional approach are fractional ownership, faster settlements and transfers, 24/7 market, etc.

motohagiography• 9 months ago

the contrarian optimist case against this dystopia of CBDCs and digital identity is that institutions themselves are too corrupt to adopt them. i met some people involved in a project to turn a government budget into a ledger and the resistance was that it would remove all the discretion from the system, and even technocrats forget that the discretion is its own reward in those places.

their entire plan is predicated on there being no alternative, and these world domination plans make some noise but they do not prevail.

naIak• 9 months ago

Every single time, huh guys.

Drupon• 9 months ago

Based

bzmrgonz• 9 months ago

I wonder what BLACKROCK'S Social Credit Score would be???

BlackRock's Larry Fink: "Tokenization", Digital IDs, & Social Credit

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