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A street scene in Paris with people crossing near La Compagnie Bllu on a warm day.
Legal and tax studies Reports
Le risque systémique de l’arbitrage à “cours connu” (cas Abeille Assurances)
1. Introduction et Diagnostic Structurel La faille des contrats à "cours connu" (notamment le contrat Arbitrage) émis par l'Abeille Vie à la fin des années 1980 représente l'un des cas les plus fascinants de défaillance d'architecture financière face à la commoditisation technologique. À l'origine, la latence de l'information (cotation hebdomadaire des SICAV) agissait comme une…
11 hours ago0Comments
Digitalisation Tech
The $16 Trillion Question: Who Measures Tokenization?
The numbers, first. Tokenized real-world assets crossed $30 billion in early 2026, a 300% year-on-year increase : US Treasury debt ($10.7bn), commodities ($5.1bn), private credit ($2.9bn), institutional alternative funds ($2.2bn) leading the mix. Measured against what is coming, $30bn is a rounding error. The 2030 forecasts, by institution: Source2030+ forecastScope noteMcKinsey~$2tnExcludes crypto, stablecoins, deposits,…
12 hours ago0Comments
Vector image representing online money transfer going in circles among people on green background
Tech Urbanisation
Tokenized Municipal Micro-Bonds
Tokenized Municipal Micro-Bonds. We use the XRPL infrastructure to issue tokenized bonds funded by urban tolls… and local property taxes from specific neighborhoods. Steelldy provides the Risk Engine to rate these micro-bonds in real time via local OSINT. The shift from appreciation tokens to yield structures represents the true institutional inflection point for RWAs. It…
1 day ago0Comments
From above ten dollar banknote with inscription and United States treasury building placed on table
Digitalisation Tech
RWA Treasuries: The High-Stability, High-Yield Foundation for Modern Crypto Strategies
RWA Treasuries (Sharpe 1.0-1.3 | Volatility 2-3%). Asset representing the tokenization of U.S. Treasury bills (e.g., BUIDL, OUSG). The high Sharpe ratio (1.0-1.3) with negligible volatility (2-3%) makes it the ideal foundation for "Cash-and-Carry" strategies and collateral for HFT strategies. On-Chain Infrastructure and Regulation: The integration of the BIS (tokenization on a unified ledger)…
2 days ago0Comments
Gold coins scattered with a stock market graph and a percentage symbol on an orange background.
Analyse de marchéAnalyse de marché MarketsMarkets
Why Gold’s Low Sharpe Ratio Masks Its True Value as a Strategic Tail-Risk Hedge
Gold (Sharpe 0.4-0.7, Volatility 12-15%) acts as a reserve asset, inversely correlated with the DXY. Its low Sharpe ratio is due to no carry yield and custody costs, but it offers absolute decorrelation during systemic geopolitical shocks. Physical gold is now central to monetary influence wars (BIS Basel 2024-2025). Steelldy Engine 3.8 and Planet Labs…
2 days ago0Comments
Economic studies
The attention economy as a financial asset
The thesis puts forward a five-part proposition: (i) the "vital energy" mentioned in the source text is formally isomorphic to the economic quantity of human attention, a scarce, allocable, measurable resource, as theorized by Herbert Simon (1971) and Michael Goldhaber (1997); (ii) this resource is captured by large corporations through a chain of signaling (Spence,…
3 days ago0Comments