It's just an avenue for people to learn how to use a decentralized economic system. Like with America here, we have the CBC come in and they want to have the digital dollar, and this is going to teach people about credit cards and how to use money digitally, Debit cards are being used digitally. Digital dollar is going to teach people actually how to use cryptocurrency. So I think it's just a gateway. It's going to open the doors to education. And we don’t have to talk much about it; they just have to try it.
First, I think people have to understand that there's five different types of stable coins.
Fiat, crypto, gold/commodity, alma rhythmic, hybrid.
The reason why Stablecoin was invented was just to reduce the risk of volatility. It has been around virtually since the inception of Bitcoin. Master coin was the very first digital alternative currency. Master coin was meant to be a stable coin, but also a non token before those existed as well.
How can you make a stablecoin stable?
You know, every time when people come up to me and ask to advise them on stablecoin projects, I can’t because I don’t give legal or financial advice.
Now, crypto-backed stable coins might be useful for somebody in a financial institute that is not familiar with cryptocurrencies. These people are on Coinbase, mostly.
So if somebody from JP Morgan wants to get in and is ready to invest billions in stablecoins, that might be a good avenue for them because they're just not as educated
I cannot tell much because there’s so much going on due to global affairs.
Luna just screwed us all up and I've gotten a lot of phone calls from different media outlets, different people just asking questions “what is this?”; “Can you define this?”.
I'll be frank with you, I try not to think about it because I think all of us have gotten into this industry because we wanted to exit from the main industry. We all are willing to fight for decentralization. The only reason that I've learned stablecoin is to stay ahead of the industry to know what I can legally do and not do when I launch my decentralized tokens and work.