#133 - The Truth About Casper Network - Transcripts
Casper Network looks like a sleeping giant. This is a crypto project that is not only built for enterprise adoption, but has been working with some insane partners. Today, we take a deep dive into the technology that sets Casper apart and uncover some interesting facts that might explain why noone is talking about this altcoin... yet.
the truth about Casper. We're about to reveal some crazy facts about Casper that you need to know
about. Welcome to the Beampod. This is your place for all things stocks and crypto. From beginner tips to expert picks, use this as fuel for your investing journey because when you're in the know,
your money will grow. This episode of the Beampod is sponsored by KyberSwap. KyberSwap is a DEX and DEX aggregator, which is built to facilitate all your DeFi needs in one single platform. Fast, cheap, and safe. User experience is KyberSwap's sole focus to make everyone's life better in DeFi. Welcome to the Beampod. This is Shane, aka the Jolly Green Investor. And this is Josh, the Nifty Investor. Today, we're going to be revealing the truth about Casper.
This is a layer one Casper network, Casper Labs. There's a lot going on with this blockchain
that I think goes undetected. This is definitely a project that we've been talking about a lot lately that not many other people are talking about. So I think it is a really good time for us to really do a deep dive. If you've been following the channel, you've probably heard us mention it a few times. Like we've never done a really deep dive into it. We mentioned in the Discord sometimes we tweet about it. But now we're going to take a peek under the hood, see everything that's going on and ultimately make a decision whether it should be in our portfolio or not.
Yeah, because we've done the research previously. So we've hinted at it throughout our Discord, our Twitter, etc. Now, I think now is a great time because for one, all their tokens are now in circulation. So this was a... If you look at the chart of Casper, IPO'd or I'm sorry, ICO'd and just took a massive dive. As most projects when they hit all the early round investors start getting their tokens, they try to make their profits. But as of September, all seed round and early round investors now have their tokens. All the tokens are fully in circulation. This is a great thing. So this is a great time to cover this project. And this is actually when I have
fully started the dollar cost average into Casper. Exactly. There you go. So I think it was right about just about a year ago that we heard about this project. I think someone maybe messaged us on Twitter about it and we were like, never heard about it. At that point, we liked what we saw, but it was very early. We hadn't really done the full research. Also, not many tokens were distributed. Yeah, that's right. So we stay away. We always say, stay away from tokens after they launch because as you said, it's just going to keep getting dumped and diluted. Yeah.
But all right. When you start doing your research into it, as you said, it's a layer one project. So like a Solana, a Cardano, an Algorand, one of those. So what makes Casper...
Every blockchain has a selling point. So what would Casper's selling point be? So they do claim to have solved the scalability trilemma, as they all have, spas, security, decentralized. But there's one other component to this triangle, which I guess makes it a square. Hmm. Yeah, I like it. And that's the fact that they're future proof contracts, future proof smart contracts, web three moves quick. So the fact that this is an enterprise focused blockchain, if you're thinking about it, you're running a business in web two, and you're trying to transition to web three. The last thing you want to be thinking about is what the network goes down? What if we need to make upgrades? What if this thing changed? What that happens?
With this platform and this with Casper, you can actually adjust
things in real time and stay up to date. Yeah, so that's the big game changer that first kind of drew us into Casper was the fact that you can make changes to smart contracts after they've been deployed. Now, this is different. This separates it from the Ethereum, the Solano, the Cardano is when you have a smart contract that's been deployed, it's out there. You can either take it, you know, it can get taken down, but you can't change it. You have to replace it, right? So with Casper, you can change it on the fly. And when you're talking about big enterprise adoption, when if they have 100 billion clients, or if they're managing $100 billion of money in this smart contract, you need the ability to pivot. And if you've ever started a business or run a business, the first time you launch something is never going to be perfect. You always have to tinker and pivot and iterate and make it better. And Casper allows
this by these future proves smart contracts. And that's what I like, you know, you talk about, you never gave everything perfect the first time. And when you go through the roadmap, they have they're launching version 1.5 of their mainnet this quarter, they have version 2.0, q2 next year. And then they can be announcing some fortune 500 companies in q3 of next year. So yeah, they are doing the building and they are growing slowly and they're doing what is necessary now. And the fact that this has such a small market cap, yeah, in fact, it only has a $500 million market cap. If it had the market cap with Solana,
it'd be a 21x as big. So yeah, yeah. So Casper, you know, it's Casper labs, which is the company, I guess, developing the Casper network, there's Casper labs. So Casper labs is a Swiss based company. And they have over 75 full time employees. Yeah, you know, there's a lot of people working behind this. They've got some pretty interesting partnerships, they they've just joined the IBM partner program. They've, they've worked with AWS for cloud building. So they do have some partnerships, as you said, they're going to be revealing a lot more going forward. But if you
really dip, if you dig into it, they've got some pretty interesting things going at the moment. I was watching an interview with their chief operating officer. And when you're so when this enterprise focused blockchain, right? And this this is not something that the retailers are going to be hearing about all the time. When you're dealing with big enterprises, typically you go into non disclosure agreements and NDA. So if you were dealing with a Google or something of that nature, and you have an NDA in place, you can't say, Hey, we are going to be doing this, we're going to be doing that everything stays disclosed. So that's what makes makes Casper such an interesting play. Because with when the CEO says that they have 45 NDAs in place with fortune 500 companies, do you understand the momentum that this token could see? Yeah, when they do announce, hey, now we're working with x or y. And they do have this partnership with IBM. And that's a really big one. And I want to highlight what their VP of blockchain services of IBM said, they said, we're excited to continue our partnership with Casper labs, bringing to life real measurable client outcomes powered by hybrid blockchain.
So this is another thing we can talk
about yet the fact that you can build a private hybrid or public with speed at scale. Yeah, that's huge. I think the hybrid blockchain thing, we've, we've started uncovering a few projects that are building these hybrid blockchains or have the ability to like coinos was another one that can build hybrid blockchain. So what that means is, as you know, or, you may know, most blockchains are public, you know, you can just search up anyone's wallet address on ether skin for Ethereum or Solana. But a private blockchain has a lot of real world use case if you're going to look into healthcare or big financial data that can't be accessible by public. Or using something like Casper, you can build a hybrid blockchain where some of it is private and some of it is public. And I think that's really going to help corporations come in. And another thing that really caught my eye on the Casper website was, and I agree with this 100%, you can't just go into these huge Fortune 500 companies and say, look, we're going to replace all of your web two with web three. They're going to say, no, that's not how it works. But Casper smart contracts and their ease of use is designed to slide right in to their existing structures, their web two, as opposed to replacing it all together. So when you're, you know, if you're a small company, you can overhaul your entire thing to web three. But if you're looking at a big company to slide in and accommodate it and be a hybrid solution, that I think is going
to work well in their favor. What really helps with that is their architecture is the type of coding. So these open source coding architecture where, because you have millions of coders around the world, they all use different programming languages. If you're just working with one or two languages, it's very difficult to attract the right individuals to the team. The great thing about Casper is that it's a type of technology that allows coders to use a simple coding programming language that any coder can use. So it makes it really easy for these web two
to transition to web three. Yep. I like that. So where are they at right now? So you mentioned currently they're, they're working hard and fast on version five version, 1.5. Yeah, that's right. Which is set to be launched by the end of this year, 2022. So what that's going to do is it's going to make it much easier for nodes to join the network and much easier for people to run, or sorry, much cheaper for people to run those nodes. So they're going to bring people in that way. But really what they're looking forward to is Casper 2.0, which is set to be scheduled to launch in Q1, 2023, I believe. And this is going to be like, a dramatic overhaul of the smart contract platform. So again, the reason why no one's talking about this is because
Casper is still at a quite early stage. But that's when we like to get into projects, isn't it? Absolutely. And what I found really interesting was, they have 11.2 billion tokens in max supply. 10 billion of them are in circulation. Of the 10 billion, 74% are staked. Wow. So three quarters of all tokens in circulation are not being traded. They're being held and they're being staked to secure the platform. So people are confident in this platform. Very confident. Yeah.
You like to see that? That says a lot. You want to see a product that has all the tokens staked.
You like to see that? That says a lot. Sure. One of the things that I like about Casper 2.0, it's going to be building a new capability into the smart contract where contracts can pay for themselves in gas. So it's a new gas fee mechanism where contracts pay for themselves. So it's kind of like, again, kind of like coinos, where there was that mana that paid for the coin transactions. There's a new mechanism in Casper 2.0 that will basically make the gas fees zero.
So not only is it zero, which helps with adoption, but it's predictable. And that's what when you're running a business, you don't want to be dealing with an Ethereum gas fee, for example, which is at one time is $7 on a Sunday or a Monday or something. And then $4 on a Friday night, like you want it to be consistent. So that's absolutely huge.
Yeah. So now we've basically, we've had a huge rundown here of the technology behind Casper. And I think it kind of sets itself apart in that it's really going for enterprise adoption and it's doing it with a different style of smart contract. So, I mean, that whole gas fee thing, not the gas fee thing and the changeable future proof smart contracts, for me, that's like, all right, I like this project. But now, you know, it is early days still. So if you look at the ecosystem, it's not quite there yet. I think I found there's one DEX on Casper. What was it? Friendly market. Yeah. Friendly market. So it's a DEX.
It's a nice name. Yeah. Well, you know, Casper is like the friendly ghost, right? Yeah. I think that was definitely the inspiration behind it. So Casper, the friendly ghost, friendly market, it's the first DEX and launch pad on the Casper blockchain. But there's three more DEXs that are set to be launched within the next few months.
Right. But it's early days. So it's a DEX. It's a nice name. It's going straight. Yeah. It's early days. Yeah. Looking who they're surrounding themselves with. So I was trying to see, you know, because they don't have a ton of partnerships besides IBM. And I know they have these NDAs with these Fortune 500 companies, but I find it interesting that they're the member of the Hyperledger Foundation. And this is interesting.
So the Hyperledger Foundation is an open source community focused on developing a suite of stable frameworks, tools, and libraries for enterprise grade blockchain. So huge names are part of this, but it's mostly like companies that you'd be familiar with. Oracle, Visa, Walmart, Verizon, Bank of England. So it's like big organizations. Here's what's interesting. There's only five crypto projects in this Hyperledger Foundation. Here are the names. Quant, Hedera Hashgraph, Filecoin, Ripple, and Casper. So you only have a few names working within this foundation, which I think is huge. They're buddying up
to the right people within this foundation. I mean, that's a nice list of five projects you just put on there. And I bet you most crypto heads can easily name those first four, but many of them cannot name that fifth one, right? It's Casper. I think we might be uncovering a hidden gem here. Yeah. So now if you look into some of the companies, the bigger companies that they are working with, we mentioned their partnership program with IBM. Well, they've worked with IBM on building with a company called IPWE. Yeah, IPWE. IPWE. So they built an NFT based chain of custody. So it's patent records.
They're putting patent records on the blockchain in partnership with IBM.
So that's a huge one. They said in a couple of weeks, they're going to be launching millions of patents on Casper. That's pretty cool. In a couple of weeks.
Yeah. Yeah. I'm a baby. I know. Another cool one I saw was a company called MediCask. So they've chosen Casper to build their smart contract platform. It's for like, you know, like alternative investing is becoming very big these days, like investing in, I don't know, watches or sports collectibles or Pokemon cards. So for people that are really into whiskey, you can buy whiskey specific whiskey casks from around the world, you know, like a 25 year aged scotch from the island of whatever in Scotland. You can buy this and your ownership is all stored and traded on the blockchain using this MediCask software. So it's like putting whiskey casks as NFTs. Right. So you own this cask that maybe it's in Scotland or in Japan, but it's on the blockchain.
So you know, it's yours. That's sick. And you can trade them. Fuck yeah. Isn't that cool? Yeah. I as a whiskey guy myself, I think that's an awesome idea. And back in the back in the old days, I used to work as a bartender at a whiskey bar. And I can tell you the clientele would love that. I can't think of buy a cast from 30 year old Glenn Fiddick and traded as an NFT. I said a great idea.
That's actually a good segue into the new NFT standard that they've come up with. And that's CEP 78. It just introduced this. It's secure, sustainable, and again, upgradable smart contracts. So this is the upgradable future-proof NFTs. So this is absolutely massive for artists for doing the whiskey barrels, et cetera. So now the owner of an NFT can now adjust things as time moves on. So that's a really cool one.
That's a really cool one. Here's another cool one I found about Casper. So this is publicly traded company. We used to talk about this company back in when we were uncovering certain types of stocks. It was called Wkey back when the NFTs were really ripping. Wisekey. Yeah, Wisekey. So Casper, they've chosen Casper to build their NFT technology. And what Wisekey is, it's like an Internet of Things kind of data network. And they have their Internet of Things devices on SpaceX satellites. So now Casper technology is on SpaceX satellites. That's it.
And eventually, when there are enough of these SpaceX satellites launched around the world, they're going to be holding people's data in the blockchain through these Wisekey devices, which is powered by Casper.
Wow. That's crazy. Elon Musk connection. It'll be in the Twitter next.
Elon Musk connection. It'll be in the Twitter next. Yeah. So I mean, look, they're doing some pretty interesting things. In fact, no one's talking about them.
Another thing is they were chosen to become the blockchain of choice for the city of Fuzhou, Fuzhou, China. You know what China is with their crypto? The fact that one of their major
cities has chosen Casper, their blockchain of choice? A lot of people over there. Yeah. And to the same tune as that, I found out that they have been working with... We were just talking about Polygon in another episode. They are working with the government of Telangana. I don't know, it's some region in India, but it has 50 million people in it. They're the official blockchain partner of the government there to build all these blockchain infrastructures. You think it's only a region of India but has 50 million people in it. Yeah. And just the fact that they're making partnerships in China, making partnerships in India. They're making partnerships in America.
You can see that they're really building under the radar. Like, no one knows about this project and look at all the shit they're doing.
I know. I don't know why nobody... Literally nobody talks about this, Lair One. You want to talk about a project that provides maximum opportunity and this is one of them. In January, they're presenting for the World Economic Forum, a thing called Davos. And this is like the 1% of the 1% who are there. So I'm talking like the Fortune 100 companies, the billionaires of the world. So now that they have all this going on with their hybrid, future-proof smart contracts, they're already with China and India and all this other stuff, Elon and space. Now they're presenting to the richest people in the world.
I love the fact that Casper has... You can obviously tell from the website, from everything they're doing, they are built for enterprise, for large corporation government. And that's fine. And we've seen a lot of projects that say that, but Casper is actually executing on this. Look at the companies we've just talked about, public companies. They're working with IBM. They're working with the governments in China and India. They're actually going through with their word and executing their plan for enterprise adoption. And that's one reason
that I think Casper is set up to succeed. You want to talk about some of the projects that I
hold long term? This is one of them. Yeah, 100%. So a couple of these stats here, which struck me, they're from the Casper website and it goes along with their ideology. 95% of Fortune 500 company executives have begun planning blockchain initiatives. 89% of these same executives believe that the next 10 years of web3 innovation will define the next 100 years of innovation. And 75% of these same executives fear that a loss of competitive advantage if they don't start adopting blockchain technology now. That's it. This is the gap in the market that Casper is going after.
And I'm here for it. So am I. I just grabbed a huge bag of it a week ago when we were in the
States. There you go. So yeah, I mean, look, what's the truth about Casper? It's a great project with amazing technology and awesome partnerships. However, no one's talking about that. You know
why? It's not a Binance. Yeah, you can only get it on like Kucoin and a few others. So that's another thing. Wait until it gets listed on tier one exchanges like Gemini and when Binance right? Yeah, right now you got to get on OKX or Kucoin or one of those other platforms.
When Binance Binance right? Yeah. So what's the market cap right now around 500 550 million
500 million. So like a majority of all almost all tokens are in circulation. Obviously, it's a layer one. So there's an inflationary measure. But yeah, 75% all stake for the rewards.
I think I think Casper after you look at what they're doing, the problem they're solving, the partnerships they're building and how under the radar it is. This is a multi billion dollar
market cap company in the weeds that no one's talking about. So I'm not sleeping on Casper network. That's the truth. Not sleeping. I put this in my Hedera Hashgraph, Algorand, and now Casper basket. It's the three that I hold near and dear. And it's the ones I'll be
holding for the next five years. Hey, if you like our truth about episodes and you want to see your favorite project done a deep dive like this, make sure to comment it. We always read the comments. So if your comment gets enough likes, we'll do a truth about your favorite project.
And we're a huge fan of Casper. If there's anything that we missed, please let us know in the comments, we can find out more about this project.
And then tune into the next episode because that one is going to be a banger.
All views expressed by speakers on the bean pod are solely their opinions. You should not treat any opinion expressed on the bean pod as a specific inducement to make a particular investment or follow a specific strategy. It only has an expression of their opinion. This podcast is for informational purposes only.