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The Pomp Podcast
#1313 Andy Bromberg on How To Disrupt TradFi with Bitcoin & Stablecoins
Feb 20, 2024
33:32
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Andy Bromberg, CEO of Beam and contributor to the Eco Protocol, discusses the rise of stablecoins, on-chain payments, impact on individuals, and future outlook. The conversation explores the significance of stablecoins, consumer adoption, Beam stablecoin use cases, competitive pressures in the payment industry, and the value of payments across industries.
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Quick takeaways
- Stablecoins enable global financial access by providing dollar-denominated services where local systems lack digital support.
- Ensuring frictionless and cost-effective on-chain payments through non-custodial solutions boosts financial inclusivity and user convenience.
Deep dives
The Rise of Stablecoins and On-Chain Payments
Andy Bromberg, CEO of Beam, discusses the growing popularity of stablecoins and the realization of the long-awaited dream of on-chain payments. He explains how stablecoins, especially those tied to the US dollar, provide an easier entry point for users unfamiliar with cryptocurrencies. He also highlights the recent developments in fast and cheap blockchain solutions, such as roll-ups and Layer 1 solutions, that enable efficient on-chain payments. Bromberg introduces Beam, a global Venmo-like product that allows seamless and instant movement of stablecoins globally. He emphasizes the importance of offering users a non-custodial and frictionless payment experience, paving the way for cross-border transactions and financial inclusivity.
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