Episode 48 Institutional Custody and Payments

Episode 48: Institutional Custody and Payments

Episode 48

Institutional Custody and Payments

Sergio Silva is a Senior Director of Web3 at Fireblocks. We cover the impact of NFT royalties going to 0%, how Fireblocks helps institutions secure their wallets, and why stablecoins and cross-border payments will be adopted in emerging markets.

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[00:02:11] - [First question] - His thoughts on NFT royalties dropping to 0% and the impacts of that change 

[00:04:20] - Whether or not secondary sale royalties could be implemented via smart contracts

[00:05:11] - Where the industry is headed given the changing landscape and its underlying technology

[00:11:03] - His background ranging from finance all the way to Crypto Punks

[00:13:27] - What moved him from writing an article against NFTs to dropping $10k on them

[00:15:04] - The dissolution of the Crypto Punks Discord channel and where it’s at now 

[00:16:41] - Overview of what Fireblocks is and what they do 

[00:18:14] - What MPC is and why it makes Fireblocks so special  

[00:19:22] - Fireblocks’ target audience and clientele  

[00:19:59] - Why they choose to stay B2B and not launch their own exchange 

[00:21:33] - Definitions of custodians, qualified custodians, self-custody, and technology layer

[00:23:00] - Overview of what crypto wallets actually are and the broad scope of them today 

[00:25:54] - The different use cases of wallets writ large

[00:28:40] - How to handle wallets as an identity on blockchains in tandem with privacy

[00:30:50] - Brands building on top of crypto layers and what’s impressed him the most

[00:32:18] - How much Fireblocks deals with TradFi compared to crypto native firms

[00:33:21] - The chances of Fireblocks becoming solely a technology layer  

[00:39:39] - Backstory of his Crypto Punk and the round trip it took 

[00:43:35] - DeFi collateralization, overcollateralization, and the use cases for it 

[00:45:33] - Overview of the global payments system and where crypto will have a place in it

[00:50:04] - Explaining sending crypto and NFTs to his family  

[00:57:07] - Concerns for capital controls as crypto becomes more globally adopted

[00:58:25] - Thoughts on the greatest use cases for stablecoins 

[01:00:10] - What he’s most excited to see built over the next six months and six years 

Institutional Custody and Payments

Introduction

Eric
This is Eric Golden. And my guest today is Sergio Silva. Sergio is a Senior Director of Web3 at Fireblocks, a platform that helps institutions, custody and transfer of funds. In this wide-ranging conversation, we discussed the impact of NFT royalties going to 0%, how Fireblocks helps institutions secure their wallets and why stablecoins and cross-border payments will be adopted in emerging markets. Please enjoy this conversation with Sergio Silva.

Eric
I'm excited to have Sergio Silva today on the show. Sergio, thanks for joining me.

Sergio
Thank you for the invite. I'm really, really excited for this next 1.5 hours.

0% NFT Royalties

Eric
So currently, Sergio is a Senior Director of Web3 at Fireblocks. He's passionate about NFTs, big on Twitter, crypto trader, has a similar background in TradeFi. So I've been really excited to do this.

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