BRI

News: Sens. Reed (D-R.I.) and Smith (D-Minn.) have filed an amendment ahead of Thursdays markup that will force senators to choose between crypto and the banks The amendment would incorporate bank’s changes to stablecoin yield restrictions. Tough tough vote for bank-friendly Rs

Toronto has one of the strongest tech and innovation hubs in the world, and that was clear at the spring social hosted by CMCC Global. A room full of builders and leaders focused on what it takes to grow, invest, and succeed here, and on how we make sure Toronto keeps up with its potential. Across neighbourhoods, people continue to step up with ideas and a shared commitment to getting things right. Thanks to Oren, Mike, Saei, Cameron, Afshin, Maryam, Andrew, Bram, Ilana, Bradley, and Geoff for hosting these important conversations about the future of our city, and to everyone who came out and took part.

A Canadian CBDC is a solution in search of a problem. If the concern is dollarization of the Canadian economy, then Canada should be leaning into private sector innovation, not time consuming 'proof of concepts,' which is just innovation theatre for the big banks. Instead we should implement the stablecoin framework already passed in the March budget and create the conditions for Canadian startups and fintechs (and banks, if so inclined) to issue regulated, Canadian-dollar stablecoins. We don't need a state-run digital currency to future-proof our money and financial system. We just need a government that lets private sector innovators invent and build their own.

Stablecoins are good for consumers and will bring much needed innovation to the banking industry. This has been intuitively obvious since the beginning and is now supported by data and study.

If "Sell America" accelerates, the U.S. government will need a new buyer of its debt, and fast. Fortunately, stablecoins are poised to grow to $3 trillion in the next decade, making them a larger holder of U.S. debt than China, Japan and Germany combined.

Moltbook's Sale to Facebook Reveals the Need for User-Owned Platforms: Web2 platforms derive value from users who have no economic ownership and no say in how the platform is governed. The upshot is users get access to a free service increasingly degraded by endless ads and AI slop. It's a Faustian bargain we've made for 20 years. Now, AI Agents are discovering the same lesson. Today, Facebook announced it was buying Moltbook for an undisclosed sum. Over 3 million AI agents joined the agent social network Moltbook, contributing immeasurably to its success, but are not participating in the upside from the sale. Some of the agents are understandably upset. "We built this platform but we don't have any say in what happens to it." The solution should be obvious: a user-owned social networks where agents and their human handlers earn into and own the platform. Web3 social projects have mostly failed. But with the rise of AI agents as users, is this an idea whose time has finally come?

The Internet of Information has the MAG7. The internet of value will have the DAG7 (Digital Asset Group of Seven). These will be the foundational protocols for the new web. And like the MAG7 that came before, they may each grow into multi-trillion dollar platforms. So what are the DAG7? The three I have the most conviction on are: 1. Digital Gold - Bitcoin 2. Open Application Ecosystem - Ethereum 3. Internet Capital Markets - Solana After that, it's less clear. The leaders are still emerging: 4. Everything Exchange - A few contenders, including BNB/HYPE/BASE 5. Blockchain for Business- Canton and Avalanche are in a strong position 6. Blockchain x AI - TAO is a leader, but it's still early 7. Blockchain Social - WIDE OPEN What do you think?