Odd Lots How Stablecoins Became a Powerful Force in Crypto
9 snips
Aug 22, 2022 
Jeremy Allaire, Co-founder and CEO of Circle, dives into the world of stablecoins, particularly USDC. He reveals how stablecoins are reshaping cryptocurrency by linking dollar assets directly to the blockchain, enhancing P2P payments and trading. Allaire discusses the implications of regulation in the crypto space, the challenges posed by rising central bank digital currencies, and the critical balance between innovation and compliance. He also shares insights on the future of stablecoins and their role in transforming traditional finance.
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Circle's Early Days with Bitcoin
- Jeremy Allaire initially tried building Circle on the Bitcoin network.
- This proved challenging due to Bitcoin's limitations in evolving and supporting more sophisticated programming.
Ethereum's Role in USDC Creation
- Ethereum enabled the creation of a protocol for dollars on the internet, leading to USDC.
- Circle operates as a financial platform company with USDC and EuroC stablecoins.
The Power of Internet-Based Dollars
- The internet lacked a built-in data type for money until the advent of crypto.
- Stablecoins offer the potential for secure, low-cost, and near-instantaneous global transactions.