Tokenized securities and portable identity.
NYC
Joined April 2024
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Investors in emerging markets deserve opportunity.
Opacity can verify investors in emerging markets.
The next billion users won't get turned away, they'll get verified.
Opacity Labs retweeted
Bingo. I'll have a lot more to say about this, but for now, I'll just say that contained in these words are solutions to everything from growing wealth inequality through political polarization to a range of national security threats - if you have the eyes to see.
Opacity Labs retweeted
Reusable KYC is stuck because people conflate two different things a verification can be:
1. a judgment ("this person is fine")
2. a set of facts with provenance (who recorded what, when, from where)
Medicine keeps these seperate. Dr Alice saying "Bob is healthy" is a judgment. A blood panel stamped with the lab and date is evidence.
If Bob brings Dr Alice's note to Dr Charlie, Dr charlie cant really lean on it. if Bob gets hurt its Dr Charlie's license on the line not Dr Alice's. So he orders the panel again
That's excatly how the BSA works. every institution owns its own obligation and no contract moves that liability to someone else.
Most "re-usable KYC" proposals are asking regulators to let Dr Charlie rely on Dr Alice's note. Nobody in medicine would propose that. Worse, if every Dr Charlie relies on the same Dr Alice, one bad Dr alice corrupts every file downstream
You dont fix the second opinion problem by making Dr Alice's opinion legally binding. You send the bloodwork.
Opacity Labs retweeted
Can attest to this as someone who has built lending in emerging markets.
There are hard unit economics of scale and verifiability that makes a “Maria silva” unviable to lend to in the old world order.
What opacity is proposing, is an orders of magnitude upgrade to the “poverty of verifiability” that can make capital markets work for the rest of the world in a way that was never possible before.
Excited to see a lot of unsexy work fructify for the team over @OpacityLabs ❤️
Opacity Labs retweeted
I'm at Money20/20 in Vegas through Wednesday. Fintechs and asset managers working on emerging-market onboarding, DM me.
In BlackRock's annual chairman's letter, Larry Fink wrote that every stock, bond, and fund can be tokenized, and that if they were, transactions that currently take days would clear in seconds, and capital immobilized inside delays could be put back to work.
Be first.
Opacity Labs retweeted
SPY, IVV, and VOO hold the same 500 stocks, but SPY was first, to compete, BlackRock (IVV) and Vanguard (VOO) cut their expense ratios to 0.03% vs SPY's 0.09%. SPY stayed the largest ETF in the world for three decades anyway.
It certainly is a banger.
> Institutions do not want to avoid KYC, they want to avoid redundant KYC
banger mcshlanger
@OpacityLabs version: bring the compliance to the liquidity, not the liquidity to the compliance.
Blockchain's distribution advantage is that thousands of compatible wallets and applications can offer access to the same asset.
We have barely scratched the surface of what this means for global finance.
Deepfakes have beaten document-and-selfie checks. Sponsor banks are responsible for every customer their fintechs sign up, and soon they will have to cut off fintechs that cannot prove their customers are real.
If you run a fintech or wallet and want AI-resistant credentials for your users, let's chat.
Source-grounded verification means users connect to multiple authenticated sources directly. The user's own login and TLS encryption prove the login and account are real.
Cryptographic proofs bind to user accounts, so credentials are portable. No fake selfies needed.
Private funds want your money, and you should be able to check their numbers.
Opacity CEO Hersh Patel argues for source-verified records that let buyers test a fund manager's claims before deciding what to pay.
No redundant onboarding is a better UX for investors. Reusable credentials can simplify investor onboarding across many independent wallets and front-end apps.
"I want Wall Street's assets working in our wallets, in our applications, on our chains."
Opacity Co-founder & CEO @EulerLagrange
