Presently, there only seems to be a market for USD stablecoins. However, I think there will be a demand for Euro stablecoins soon. On the other hand I cannot tell if there is a market for Yuan or Yen stablecoins.
Apple Pay will not be accepting cryptocurrency anytime soon. Indeed, Apple (NASDAQ: AAPL) has no cryptocurrency plans. The cryptocurrency press; however, claims Apple could offer a digital currency through Apple…
Taking into account the stablecoin market share, which has expanded significantly from 1% to 3% today, we have to talk about decentralized finance (DeFi) applications. These are the key to extending applicability and use cases for stablecoins.
Therefore, scalability is the key to crytpocurrency profitability and commercilization. In fact, I think all the other cryptocurrency attributes; security, privacy, anonymity, robustness, are meaningless without scalability. Additionally, the public will not use blockchain utilities like stablecoins if they are not as fast as Visa or MasterCard (NYSE: MA).
“User adoption is a key part of the strategy. Although crypto exchanges are receptive to stablecoins (and we’ve seen a large trend of adoption by exchanges) I think exchanges are identifying that there is value for themselves and their users alike by increasing the selection of stable assets that they support.”
“Due to this increased demand, Huobi Wallet positioned itself as one of the first wallets to support all major stablecoins,” said Huobi Wallet CEO Will Huang.
A Walmart stablecoin, on the other hand, makes more sense in my mind. To clarify, I think customers will accept a Walmart stablecoin because the transaction will involve a fiat currency rather than an altcoin. The Walmart Coin could release a dollar from Walmart’s bank account for instance.
Theoretically, HorusPay allow one or two payroll analysts to oversee payroll for hundreds or thousands of workers around the world. Thus, HorusPay could reduce human resource costs by simplifying payroll operations.
Hence, they could pay some the price for Libra Token and Facebook stock. Moreover, exchanges and exchanges will be happy to promote this exception, so they can make more money by selling or betting against Libra Tokens.
Tether is a stablecoin. To explain, a stablecoin is a cryptocurrency that contains a smart contract linked to a trust account. A smart contract is an algorithm; or digital robot, that performs a specific act. When you make a USDT purchase, the Tether smart contract releases one $1 in US currency to the merchant.
With MainWallet’s release, Bankex Group is enabling 200 million users of the popular Telegram messenger to send money, pay for goods and services, place bets, and get paid via simple Telegram messages. The name of the product – MainWallet – reflects a degree of irony by Bankex Group development team, as anyone with a Telegram nickname automatically has access to Bankex Group fintech platform and therefore has a “wallet.” This makes this wallet “main” – there is no software to download, and no additional registrations.
I think Zuckerberg is betting central bankers will allow a social media cryptocurrency they might control. If Libra succeeds and becomes a successful currency, the BIS or the Swiss National Bank can take it over. If Libra fails, that’s Zuckerberg’s problem not the bankers.