Bankless 189 - Taking Treasury Bills Onchain with Martin Carrica
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Sep 25, 2023 In this engaging discussion, Martin Carrica, founder of a tokenized T-Bill company, dives into the transformative potential of on-chain treasuries. He explains how tokenized T-Bills can enhance yield for crypto users and discusses the implications for traditional finance. Carrica also tackles the complexities of integrating treasuries into DeFi, the regulatory landscape, and the urgency for effective financial tools in high-inflation economies. With a focus on bridging the gap between traditional and decentralized finance, this conversation is packed with insights.
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Bitcoin in McDonald's
- Martin Carrica bought his first Bitcoin from a miner in a McDonald's, waiting two blocks for confirmation.
- He got interested in stablecoins seeing his mom use them to hedge against inflation in Argentina.
Stablecoins in Emerging Markets
- Stablecoins present a massive opportunity in developing countries like Argentina, where they're used to hedge against inflation.
- A disconnect exists between low DeFi yields and high risk-free rates, creating a need for a bridge.
Tokenized Treasuries
- Tokenized treasuries (USDT, where T stands for T-bills) could offer a yield based on the Fed rate.
- This seemingly simple instrument doesn't exist yet due to regulatory hurdles.