Looks like there’s a new Canadian startup looking to go public in the “tokenized commodities and real world assets (RWAs) space”.

I first blazed this hard trail over 10 years ago now (May, 2015) when we launched & listed BitGold (perhaps a bit too far ahead of its time!). I believe we were the first ever blockchain public company, focused exactly on this model; first to launch a distributed digital gold ledger in production with major banks and institutional partners, first to hold meaningful Bitcoin on our balance sheet (~10,000 BTC at peak) and provide gold-digital asset liquidity, first patents issued in the space, etc. We likely spent more money on legals and training and educating the whole Securities & Banking Industrial Complex at our expense than actual product engineering (a damned shame, but we wanted to do it right without the many technical and legal security holes and shortcuts that the pump and dump artists often take in the token space).

..I also see that Sean Roosen and Frank Giustra are advisers in this particular new attempt, two people who I’ve discussed all of this at length with over the years, so I’m guessing it can have some traction. Anyway, first off, let me be the first to wish them the best of luck in this endeavour, it’s not an easy road (technically, legally or in market-liquidity building) in an industry heavily resistant to change with many significant incumbents gating progress and protecting the rents clipped from the inefficiency of the status quo. But we need more people pushing new-ish ideas and the boundaries of what’s possible.

Okay let’s do this.

As y’all know, I’ve talked a lot on X and podcasts about the macro vision of the software side of the Abaxx business, and a bit about the business strategy of leveraging a proprietary tech stack to enhance the Abaxx Exchange first and foremost (rather than building an expensive long cycle B2B SaaS business development first), but I think it’s time to publish a more thorough whitepaper on ID++, FDT, and 24/7 collateral markets, and how our approach differs from other enterprise blockchain/token markets/stablecoins etc.

We will then tie this piece to a more concrete rollout road map and execution timelines in ongoing our quarterlies, or even a specific announcement and tech demo presentation day.

To answer the main high level question here before all of that however, ie why isn’t this live and public already given previous disclosures, the simple answer is that we under funded, under focused, and under estimated the complexity of “finishing” a lot of these full stack innovation apps for enterprise use.

With the exchange block trading system, as well as the Coffeehouse already live on the ID++ tech & verifier, we are getting user feedback and doing the necessary upgrading cycles for enterprises, but the next infra upgrades are not yet complete for deploying messenger as the first business application sitting on the ID++ and our private network datastore tech. Messenger is close (and is the first integration with MineHub etc.)

Anyway, more soon. This continues to be as exciting a business innovation for me as the LNG contracts, but I need to bridge that perception and investor understanding gap better here in this 2025 FDT launch year. Ahead of the white paper, I went through a quick exercise to see if my “breadcrumbs” were getting through to inventors, even though I fully admit that we haven’t published anything comprehensive up to this point

(for reasons of inventor simplification and focus on the exchange, competition, IP protection, regulatory messaging, and even a bit of R&D uncertainty on a few components until fully built and tested for scaling).

Why did @abaxx_tech acquire @privacycodeinc?

Ten point version 🧵

1) Bringing @mdennedy, CTO Richard Schaefer and team in house. Acquihire for ID++, Abaxx Messenger, FDT & #SmartCommodities rollouts over next 3-15 months.

Michelle, Richard and their former co-founder Kristy Edwards had a lot of foresight and a great vision, we’re excited to unite the clans. 2) Michelle is Silicon Valley’s Chief Privacy Officer #001, literally wrote the book on privacy engineering. She knows where all the data bodies are buried, knows all of the conversations behind closed doors in this crucial sector.

Data security has been in a perpetual bull market, but with GenAI and the acceleration of our Orwellian surveillance world, more privacy & AI regulatory bills are coming and the data privacy bull market is about to kick off.

I think the whole LLM #AI boom-bust debate is missing the forest (boom in data supply chain infrastructure and open source 3.0) for the trees (hopes of quickly profitable, agentic magic).
🧵 [tl;dr: just as GS’s AI-skepticism report & the zeitgeist around AI bubbles hit a negative narrative inflection, actual AI tooling & progress is hitting a positive inflection. ..and we belive Abaxx’s 5yrs of development on 🆔++ identity infra & private networks is right on trend]

Dear #29ers,

I see some of you are questioning a raise here and/or how it was placed. Here’s how we’re thinking about it:

1) Today is a totally different world for early-rev financing (non AI), despite ETF driven large cap flow. I’ve been at this +10yrs, its clearly different 2) last year we were strung along by multiple institutions and had less and less leverage as time went on, so we ultimately had to revert to lower order plans (while me and others personally loaned and funded the company to hold off dilution)

Overtime thoughts: a quick story of my profile picture background & relation to smarter markets

Everything is Energy (& Information)

Yesterday I was refining my bits & atoms thesis with Jeff Currie in Abu Dhabi. My underlying macro thesis (that drove me to found Abaxx) is… …that we’re in a volatile phase transition of two societal level transformations.

1) The supply & demand networks (& business models) that drive the production & distribution of energy & power (atoms); and

The effects of dominating, unmanaged externalities define modern world.

I don’t just mean economic negative environmental-externalities, but also(related) ill-regulated positive externalities—network effects—found in monopoly & centralized, over-scaled governance structures
🆔++ Mass energy-leverage (industrialization), mass-information (1-to-many, many-to-1 comms) & weapons of mass destruction(1-to-many, many-to-1 violence) create asymmetry in externality sharing (positive & negative)
Solution:
a)identify root asymmetries
b)seek natural system balancing

We’re in prisoner’s dilemma stage. Game it out, only *exogenous* deflation can keep system afloat.

To fight inflation, Fed pays interest on bank reserves. 3 ways to pay:
*Sell Assets (price ↘️)
*Treasury (more debt,↘️)
*Print

Irrational 0% depositor NIM required to keep solvent

https://twitter.com/davidsacks/status/1636885176671141890

The root logic, “inception” of monetary stimulus in pure fiat world is the irrational behaviour of wage-earning depositor (floats with sticky nominal wage & negative-real bank deposit).

Therefore always a game of prisoner manipulation; creates inequality for those who know game