A primer on the world of stablecoins, the underlying technology and the economic incentives that led us to pursue their development.
Share to twitterThe myth of money perpetrates every level of our day-to-day lives and is perhaps best described by historian Yuval Harari: “Money is the most universal and most efficient system of mutual trust ever devised. Even people who do not believe in the same god or obey the same king are more than willing to use the same money.” We trust that someone will accept our money in exchange for goods and services almost anywhere we go.
The main benefits that stablecoins strive to create are price stability, scalability, privacy, decentralization and redeemability.stablecoins are backed by an existing currency such as the USD. The issuing company holds assets in a bank account or vault . The coins represent a claim on the underlying assets. This works similarly in cases where the coin is backed by gold or another precious metal.
Gemini Dollar is the first regulated stablecoin. By providing a bridge between the conventional fiat banking system and crypto markets, Gemini Dollar enables investors to access institutional products on the blockchain without the price volatility associated with traditional cryptocurrencies,” says Sterling Witzke, partner at Winklevoss Capital.stablecoins are backed by a mix of other decentralized crypto-assets.
Hybrids are being created to take advantage of both fiat and crypto-collateralized models, such as Reserve and Carbon.The vision for stablecoins is larger than that of bitcoin. The total addressable market for stablecoins is essentially all of the money in the world, or approximately $90 trillion. As a result, they are frequently dubbed as the ‘holy grail’ of financial technology.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Kroger isn't the only retailer struggling to make money from digital, analyst saysShares of Kroger plunged Tuesday after the company reported that its investments in tech and delivery will take a bigger bite of its 2019 profits, but it isn't the only grocery chain struggling to make e-commerce work for its business.
Baca lebih lajut »
YBN Cordae: The New Rapper Bridging Hip-Hop’s Generation GapThere’s a growing cultural divide between hip-hop’s younger and older stars. Enter YBN Cordae.
Baca lebih lajut »
China to introduce new generation of driverless trains in 2020A new, faster generation of medium-low-speed driverless magnetic levitation trains is set to debut in China as early as 2020, according to state media.
Baca lebih lajut »
The Prodigy’s Keith Flint was the face of raving for a generationWith his candy-colored blades of hair, smeared eye makeup and the onstage energy of a bottle rocket firing off in all directions, Keith Flint physically embodied the anarchic spirit of the rave.
Baca lebih lajut »
Brexit: EU citizens risk suffering same fate as Windrush generationCitizens from the EU living in the EU risk the same fate as the Windrush generation, MPs have warned.
Baca lebih lajut »
From video game to day job: How ‘SimCity’ inspired a generation of city plannersSimCity turns 30 this month. It's introduced millions of players to the joys and frustrations of zoning, street grids, and infrastructure funding. For a generation of people who build the places where we live for a living, it was their first taste of planning as a career.
Baca lebih lajut »
Opinion | Luke Perry's death was crushing for a generation that all had crushes on himFriendly, humble and still able to melt hearts with one cocked eyebrow, the former teen heartthrob's passing feels like the end of an era.
Baca lebih lajut »