The Role of Stablecoins with Jeremy Allaire

Location: Zoom Date: Friday, 10th April Project: Circle Role: CEO & Founder By complementing Bitcoin trading, and making it easy to send digital dollars around the world, stablecoins continue to grow in popularity. Commercial banks operate on a fractional basis, holding only a small % of deposits. During challenging economic times, this can lead to what is known as a run on the bank, where depositors attempt to withdraw their funds. Unlike fractionally reserved banks, some stablecoins claim to be fully backed, meaning (for example) that for every 1 USDC, GUSD or USDT, the company claims they hold an equivalent $1. Stablecoins come with their risks and trade-offs, from the risk of being hacked to platform dependency. In a time of economic uncertainty, do stablecoins offer a better saving solution than our banks? And what are the pros and cons of self custody vs the high-interest rate savings accounts? In this interview, I talk to Jeremy Allaire, the CEO & Founder of Circle, the company behind the USDC stablecoin. We discuss the use case for stablecoins, the benefit of being fully backed rather and the impact on the economy from coronavirus. This episode’s sponsors: Kraken - The best place to buy, sell & trade Bitcoin BlockFi - The future of Bitcoin financial services Cointracker - Bitcoin taxes and portfolio manager Sportsbet.io - Online sportsbook & casino that accepts Bitcoin ----- WBD216 Show Notes: https://www.whatbitcoindid.com/podcast/the-role-of-stablecoins-with-jeremy-allaire----- If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following: Become a Patron and get access to shows early or help contribute Make a tip: Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S QR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | Ripplecoin If you do send a tip then please email me so that I can say thank you Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed Leave a review on iTunes Share the show and episodes with your friends and family Subscribe to the newsletter on my website Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.