buckyfonds on Nostr: So in the 1960's they began the process of dematerializing securities to hold them ...

So in the 1960's they began the process of dematerializing securities to hold them all electronically because "too much paper" (for your safety).

Many people were suspicious back then and for good reasons.

The beginning process to dematerialize securities was literally run by the CIA.

The man who was charged to lead the DTC (now DTCC) which controls every aspect of stock and bond sales was a career CIA operative.



The construct of the securities entitlement (that you have a claim-on-a-claim, not direct property) was put into Uniform Commercial Code (UCC) and pushed through all 50 states in 1994.

It took them ~10 years to get it done in all 50 states.

Then they changed the bankruptcy law in 2005 and tested it in the 2008 crisis.

Then they began a process of harmonization to force the law globally and today there are no exceptions.

It is crazy how much work it took them over decades and decades to ensure that people everywhere in the world don't directly own their assets and if the system fails, everyone gets rugged.

Who should we vote for next in order to resolve this? 😂

https://odysee.com/@EarthNewspaper:e/The-Great-Taking-by-David-Rodgers-Webb:3

quoting
nevent1q…gh2k

At this point, everyone knows about CBDCs (programmable money) which are basically already here via stablecoins.



However, not many people talk about tokenization.

This video on the Great Taking by David Rogers Webb is a must watch:
- https://odysee.com/@EarthNewspaper:e/The-Great-Taking-by-David-Rodgers-Webb:3

Tokenization is very similar to CBDCs and stablecoins.

You can treat tokenization as: turning everything important into machine-readable, permissioned, and programmable state.

It's not about "democratizing finance". From the Controllers' perspective tokenization is:
- "Put all economically and politically relevant claims into a standardized, queryable, enforceable substrate that my AI and rules engines can see and control in real time."

That means:
- Every claim (cash, bond, equity, fund share, real estate interest, invoice, carbon credit, benefit entitlement, even identity attribute)
Has:
- a unique ID
- a traceable history
- an attached policy envelope (who can hold it, where, when, under what rules)
- and lives on a ledger that some small set of institutions can gate, pause, or rewrite under color of law.

Once that's true, everything else (UX, DeFi theater, "24/7 markets") is just skin.

If you wanted the option of a Great Taking (even as a tail):
- You'd want everything that matters dematerialized, held by intermediaries, and expressed as tokens on systems controlled by a small institutional set.

You'd want clear legal language that:
- distinguishes between beneficial and legal ownership, and
- puts token-holders behind secured creditors and CCPs (central counterparties).

You'd want resolution / bail-in logic encoded in contracts and, over time, in token standards.

Tokenization = the technical implementation layer that makes a Great Taking operationally feasible in days, not years.

Even if they never push the red button, the option value is enormous from a Controller perspective.

You can think of tokenization as:
- State capacity up, latency down. They can see more, faster, and push changes directly through code.
- Expropriation gets smoother. Instead of chaotic bank runs and court fights, you get parameter changes on tokens.
- Going off-grid gets harder. You don't just opt out of banks; you opt out of the graph where ownership lives.
- Plausible deniability increases. They can say "the smart contract did it" or "it's in the prospectus" instead of "we ordered a seizure".

Tokenization is basically the bridge that makes a "Great Taking" technically trivial if they ever need it. Whether they press that button is a separate probability question — but the incentives to build the option are very clear.

If you look into Ethereum, it is evolving into the programmable sandbox for dollar/compliance rails:
- Governance testbed for next-gen money/IDs
- Volatility sink for speculative energy
- Prototype control rail for tokenization / programmable finance
- Moral placebo ("bankless", "decentralized") for the ideologically restless

Ethereum is like the R&D lab + casino + early beta for future regulated rails.

They use Ethereum as a test environment and build their own prod networks separately - e.g. Canton which recently partnered with DTCC, JP Morgan, etc.