The effects of the BAKKT :
1. Chinese Government has started his own stable-coin DECP (Digital Currency Electronic Payment).
2. Tether announced the launch of CNH₮ (stable-coin backed on Chinese Yuan) a few days after the People Bank of China announced DECP.
3. Facebook with Libra ( controlled by Swiss-based consortium of over 28 companies called the Libra Association,
which includes Mastercard, PayPal, Visa, Lyft, MercadoPago, Spotify AB, etc. ) is flirting with the idea of using
multiple stable-coins backed to different national currencies.
The currency war between the big players after the BAKKT is moving to the crypto world.
The cryptocurrency war would probably be more intense because the entity that would dominate now would dominate the transactions in the future Global Scale Internet Economy and the Internet of Things.
But what are this global players missing about the cryptoworld is the revolutionary idea of blockchain , Facebook Libra is not a crypto if its controlled by the institutions,neither is the DECP if its controlled by a communist government.
The one that would share the control of the physical computers of the blockchain with the public ( at least 51% ) and would have strict reliable rules on how they govern their currency would be more fit to win this new battle.
In the end the financial world is a game of trust and belief and no one trusts a communist government, no one really trusts a consortium of greedy capitalists, they have to step up their game.
Best Regards, Zoro.
Ps: Feel free to comment and share your ideas.
1. Chinese Government has started his own stable-coin DECP (Digital Currency Electronic Payment).
2. Tether announced the launch of CNH₮ (stable-coin backed on Chinese Yuan) a few days after the People Bank of China announced DECP.
3. Facebook with Libra ( controlled by Swiss-based consortium of over 28 companies called the Libra Association,
which includes Mastercard, PayPal, Visa, Lyft, MercadoPago, Spotify AB, etc. ) is flirting with the idea of using
multiple stable-coins backed to different national currencies.
The currency war between the big players after the BAKKT is moving to the crypto world.
The cryptocurrency war would probably be more intense because the entity that would dominate now would dominate the transactions in the future Global Scale Internet Economy and the Internet of Things.
But what are this global players missing about the cryptoworld is the revolutionary idea of blockchain , Facebook Libra is not a crypto if its controlled by the institutions,neither is the DECP if its controlled by a communist government.
The one that would share the control of the physical computers of the blockchain with the public ( at least 51% ) and would have strict reliable rules on how they govern their currency would be more fit to win this new battle.
In the end the financial world is a game of trust and belief and no one trusts a communist government, no one really trusts a consortium of greedy capitalists, they have to step up their game.
Best Regards, Zoro.
Ps: Feel free to comment and share your ideas.
