Built on Bitcoin with Jacob Brown Bitcoin Stablecoins: Everything You Should Know with Jakob Schillinger - CEO & Founder of Hermetica
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Nov 8, 2024 Jakob Schillinger, CEO and Founder of Hermetica, specializes in building a decentralized finance system on Bitcoin using stablecoins. He dives into the evolution of Bitcoin adoption and the rising role of stablecoins, especially in emerging markets. Jakob shares his entrepreneurial journey with Bitcoin, discussing the various types of stablecoins and how Hermetica aims to create value stability. The conversation also touches on the challenges and innovations within Layer 2 solutions and the practical applications needed for the future of decentralized finance.
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Store Of Value Before Medium Of Exchange
- Bitcoin is first a store of value and only later a global medium of exchange, likely decades away.
- Today stablecoins serve medium-of-exchange needs while Bitcoin accrues store-of-value adoption.
Stablecoins Solve Real Emerging-Market Needs
- Stablecoins are already the practical rail for payments and remittances, especially in emerging markets.
- People adopt dollar-denominated stablecoins to access a trusted unit of account when local currencies fail.
Selling Eyeglasses In Emerging Markets
- Jakob built cheap eyeglasses distribution in Africa and sold 250,000 pairs, which exposed him to cash-limited economies.
- That field experience helped him quickly grasp Bitcoin's potential for people without bank access.