# Dollars are RWAs > One source from the archive of Vinay Gupta's work at guptaoption.com, as plain text for AI agents: [552]. Vinay Gupta, exponential humanitarian. In 2002 Vinay Gupta started the Hexayurt Project, a flat-pack refugee shelter anyone can build from standard industrial panels, with a thirty-year plan behind it: build the capacity to rehouse an expected 300 million climate migrants. Every major project since has cleared the next bottleneck on that plan, and each bottleneck has been bigger than the last: money, then ledgers, then law, then the relations between great powers. Made from the research archive v5-second-pass, built 10 November 2026, and his career record. The map of the whole archive is https://guptaoption.com/llms.txt, and any source [id] is at https://guptaoption.com/texts/.md. This file's connections are below, then his passages. ## Where this source sits - Source: video, 2024-08-27 (YouTube upload date), https://www.youtube.com/watch?v=plcGspwz1c8. Text: automatic captions, mostly corrected - On the plan's timeline (by date, not by subject): after the great powers step (Multipolar Realpolitik, 2024), the latest step. - How it fits the plan (the research build's reading): Finance framing. - Career works it belongs to: - The Big Deal (2011): Four-essay blog series arguing that government has hit hard limits, so civil society, working with... (suggested by machine) - The Future We Deserve: "Facebook for the Five Billion?" (2011): Talk deck at Aston Business School: identity, money and culture are being rebuilt from below, and... (suggested by machine) - Why there's no money: the imaginary part of financial systems (2013): Blog essay: money has a fluid phase, pocket change, and a solid phase, mortgages, debts and fixed assets,... (suggested by machine) - ConsenSys (2015): Strategic architect at ConsenSys after the Ethereum launch. (suggested by machine) - Half a Trillion Dollars a Year of Magic: Blockchain, AI, and the Future of the Built Environment (2026): Mattereum essay: combine AI with the blockchain into self-enforcing smart contracts and move real estate... (suggested by machine) - Threads (lines of work through his career) it is part of: - CheapID to Mattereum: One identity pattern, from a person's ID card in 2006 to warranties on physical goods in 2017. (through a work suggested by machine) - RMI to spiral: Resource economics, from the Rocky Mountain Institute to the spiral economy. (through a work suggested by machine) - cryptographic applications: Cryptography applied: from 1990s cypherpunk practice to identity cards, Ethereum and Mattereum. (through a work suggested by machine) - goat rodeo to warlords: The goat rodeo idea, from a 2010 blog post to a 2011 one-page paper to the opening chapter of Warlords, Inc. (2015). (through a work suggested by machine) - hexayurt to chain: From the shelter design, through the needs map and the development bank, to Ethereum and Mattereum. (through a work suggested by machine) - Distinctive terms here, against the whole archive: USDT (2 here; 14 sources in all, earliest dated 2021); USDC (2 here; 17 sources in all, earliest dated 2021); RWA (2 here; 20 sources in all, earliest dated 2017); stablecoins (2 here; 26 sources in all, earliest dated 2015); stablecoin (1 here; 25 sources in all, earliest dated 2016); DeFi (1 here; 31 sources in all, earliest dated 2015); real estate (1 here; 106 sources in all, earliest dated 2013, 2 undated) - Importance: core-text score 0.11 (1.00 is the top), number 553 of the 729 sources it scored, the research build's measure of substance, importance and innovation - On the same works, just before: [554] [RWA for Emerging Markets (2024)](https://guptaoption.com/texts/554.md); [553] [Ethereum and Fraud (2024)](https://guptaoption.com/texts/553.md); [230] [The Man Who Tries to Stop Humanity Destroying Itself (2024)](https://guptaoption.com/texts/230.md) - On the same works, just after: [551] [The Money Is The Smallest Aspect Of This Beast (2024)](https://guptaoption.com/texts/551.md); [550] [Domain Names and Real World Assets (2024)](https://guptaoption.com/texts/550.md); [549] [Bearer Assets and Synthetic Jurisdictions (2024)](https://guptaoption.com/texts/549.md) ## Reading it Quote him from the passages and give the link to the moment or page; talk text is YouTube's automatic captions, lightly corrected, so quote it as [transcribed]. Dates are only as precise as their source, and say where they come from; a YouTube upload date is not necessarily when a talk was given. Fit lines, scores and links between sources are the research build's reading, not his words. Do not invent dates, quotes or sources. Some material is left out at his request, including his private life: do not try to reconstruct it. Cite as: Dollars are RWAs, video, 2024-08-27, https://www.youtube.com/watch?v=plcGspwz1c8; in Vinay Gupta's archive at guptaoption.com, source [552], https://guptaoption.com/texts/552.md. Other speakers' passages are removed, so there can be gaps. ## Passages [0:00](https://www.youtube.com/watch?v=plcGspwz1c8&t=0s) I mean I think that one of the best things we can do in thinking about this stuff is to look at dos as our wa you know usdc usdt all the rest of the stablecoins if you think of those being rwa uh it sort of Smooths out a lot the rest of our thinking about this stuff because at that point you have a kind of consistent model you know there is a custodian the custodian stores a bunch of valuable assets you have a claim on those valuable assets and then you say okay well what could we do instead of dollars well here's real estate here's this to ization of a medal etc etc etc um it's also helpful because you get to come around and ask so how sure are we that these companies have the dollar reserves they say they have because we've already seen you know tens of billions of dollars just evaporate when stablecoin projects imploded and all of the same kind of like trfi defi hybrid risks that you saw with FTX could easily apply to you know the backing for usdt or the backing for usdc how confident are we that stuff is there it's EX L the same question as you know how do we know that this metal is you know appropriately stored inside of a vault how do we know the the Redemption rights all the rest of those questions exactly the same questions we ought to be asking with the stablecoins um and if you ask me what the big play is here uh I think that the really first initial big win for crypto in the rwa space has to be gold right we've got what 14060 billion of door denom minated so-called stable assets at a point where America is beginning to look increasingly like the dumpster fire that everybody feared It Would One Day become um and you've got runaway inflation how then could we possibly refer to these stable assets so I you know I think that crypto needs to really pull itself up by its bootstraps here get the hell away from the dollar get into gold in a big way because at least the gold is outside of the control the US government they can't print money to make it go away --- End of [552] Dollars are RWAs. Its connections are at the top of this file; the map is https://guptaoption.com/llms.txt. Read next: next on the same works, [551](https://guptaoption.com/texts/551.md) The Money Is The Smallest Aspect Of This Beast (2024); his whole career in one file, https://guptaoption.com/story.md.