Stablecoins, the Future of Money
#stablecoins #knights #cryptocurrency #money #DeFi
"The rise of Bitcoin, stablecoins and DeFi, the last several yrs have been an amazing time for those of us who write about money"-- Paul Ebeling
Many of the innovations seen since Bitcoin debuted in Y 2008 will endure, some of them will fall over..
DeFi tools will become compliant with anti-money laundering/know your customer rules, Securities and Exchange Commission-registered or licensed with the Office of the Comptroller of the Currency. But, true DeFi avoids regulations and does what it wants.
El Salvdor’s adoption of Bitcoin was a watershed moment. 1st El Salvador, then the rest of Central America, next South America and then the United States. By Y 2030, the world will be bitcoinized.
Generation X will not know how to use cash in Y 2031.
Over the next few yrs the stablecoin industry will experience many rounds of failure, growth and mergers, eventually leaving us with a few big stablecoins.
The vision: As it will be confusing for the public to deal with several different stablecoins, issuers will tie-up to build an interoperable stablecoin standard. Each of them will accept the other’s stablecoin at a 1:1 ratio, effectively fusing them into a single universal stablecoin.
This alliance having been formed, stablecoins will leave the closed-loop speculative universe of DeFi and crypto exchanges and enter the real world to attack the card networks.
Their 1st big win will be to negotiate with Amazon to add a “stablecoins accepted here” payments option. Because stablecoins will be cheaper for Amazon to process than cards, the stablecoin alliance will be able to convince Amazon to offer a 1% on all stablecoin purchases. And so it will go!
Have a prosperous day, Keep the Faith!
Larry Fink Called It. CME Just Made It Real. The Compute Futures Market Has Arrived
