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BTC194: Tether's Backing and Pear w/ Paolo Ardoino and Mathias Buus (Bitcoin Podcast)

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Aug 7, 2024

Paolo Ardoino, a key player at Tether, and Mathias Buus, who collaborates on decentralized technology, dive into Tether's impressive Q2 2024 financials, boasting $1.3 billion in profit. They discuss the Pear initiative, promoting zero-cost, peer-to-peer infrastructure, and the open-source platform Keet. Special insights on eliminating server dependency unveil innovations using tunneling technology for secure communication. The duo emphasizes Tether's mission to support users in emerging markets while exploring the intersection of finance and decentralized technologies.

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INSIGHT

Tether's Volume

Tether has a $114 billion market cap and $60 billion 24-hour volume.
This high velocity of money, 25 times higher than Bitcoin, is due to its use in emerging markets and trade finance.

INSIGHT

Tether vs. Bitcoin

Bitcoin is primarily a store of value, while Tether (USDT) has broader utility.
USDT serves as a safe haven in developing countries with unstable national currencies, bridging the gap to Bitcoin adoption.

ANECDOTE

Tether's Holdings

Tether holds significant U.S. Treasury bills, exceeding countries like Germany and Australia.
They also hold a substantial amount of Bitcoin, using profits to support the ecosystem and invest in projects like Holepunch and Keet.

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In this episode, we start by delving into Tether's Q2 2024 attestation, highlighting their remarkable financial achievements and commitment to creating a stable and resilient stablecoin. Following this, we dive into the Pear initiative's zero-cost, peer-to-peer infrastructure, discuss Keet's open-source capabilities, and examine the impact of eliminating server dependency with insights from Paolo Ardoino and Mathias Buus.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:07 - Tether's Q2 2024 financial highlights, including $1.3 billion in net operating profit and $5.33 billion in excess reserves.

04:46 - The strategic positioning of Tether in the U.S. Treasuries market and its impact on financial stability.

08:47 - Tether's commitment to supporting users in emerging markets and developing countries with their stablecoin reserves.

23:17 - What the Pear initiative aims to achieve with zero-cost, peer-to-peer infrastructure.

26:43 - The potential and functionality of Keet, an open-source platform.

29:15 - How tunneling technology, similar to SSH, enhances secure peer-to-peer access.

31:06 - Details about the peer viewer app offering remote desktop services without servers.

34:25 - Paolo's mission to eliminate server dependency and the launch of a VC fund for companies building on the Pear protocol.

37:30 - The open-source aspects of Keet and how it handles code auditability.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Check out the Keet video conferencing Holepunch technology.
Check out the decentralized Pears initiative.
Paolo Ardoino's X Account.
Check out all the books mentioned and discussed in our podcast episodes here.
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