Tether’s Commentary on Chainalysis’ Report 🙇🏻 Last month’s 12-page report by Chainalysis, What is Driving Tether’s Growth and What Financial Institutions Could Learn From It, triggered a positive response from Tether, this is their commentary.
At the 05:50 mark, Lubin says he believes Tether is collateralized 1:1, but expects many other stablecoins to arise and take its place, such as MakerDAO and Circle’s Center.
-via Yahoo! Finance
A conversation around stablecoin developments, hurdles and future applications. They also compare and contrast different stablecoins and fiat and explain why someone would hold a stablecoin that’s indexed to fiat. Most importantly: Why you would want to invest in a stablecoin.
-via Venture Stories
With blockchain platforms being tested for various business processes, prospective enterprise users that are unwilling to accept a volatile cryptocurrency will often complain that a key piece is missing from the platform: a stable, digital medium of exchange. Hence the race, currently underway, to create a viable stablecoin. But what if the race is won by a central bank? Digitizing fiat is arguably easier than pegging to fiat. What it needs is buy-in from officialdom.
Binance and three other big exchanges are joining together to fund Terra, a new stablecoin to get consumers to adopt digital money. Terra is partnering with a number of eCommerce ventures in Asia to encourage consumers to use the currency.
This piece aims to prove that the only workable stablecoins are those that are composed of a simple (weighted) average of assets, more commonly called a “basket” or simply, “diversification of your portfolio”. It encourages regulators to focus on the topics of rehypothecation and commingling so as to not bring the failure modes of traditional finance into our crypto-financial future.
-via Bob McElrath
Interview with Euros Evans, CEO of Etch.Work 🎙
What if you didn’t have to wait two weeks, or in some countries, a month to receive your paycheck? What if you could show up to work on Monday morning without a dime, and have enough money to buy lunch by 12pm? This podcast discusses his audacious effort to bring real-time payments to an employer near you.
An interview covering STASIS’ vision and mission, ongoing partnerships, regulatory insights and blockchain developments in Malta.
-via The FinTech Times
During this past week the Securities & Exchange Commission (SEC) of the United States rejected nine separate Bitcoin ETF submissions from three applicants. The proposed ETFs would certainly have created more access to trading Bitcoin, but at the same time created more ways to short the price of Bitcoin. This double-edged sword is one that perhaps cryptocurrency investors are not ready to wield.
-via X8 Currency
The Sydney Morning Herald speculates that Australia seems to be reaching “peak banking bad’’. However innovators such as Australian fintech SendGold are providing other more stable ways of storing and transferring wealth digitally.
An analysis by Stably using Addy, a tool to parse Reddit data and find out what topics are trending around blockchain.The top four topics all relate to usage and adoption of blockchain technology.
James Tabor, CEO of MEDIA Protocol, and Kain Warwick, founder of Havven, conducted a live AMA session on Wednesday 15th August. They covered a range of topics from stablecoins and what they do, to cross-chain interactions and collaboration between crypto projects. They also discussed the wider crypto space and where things stand at the moment for both Havven and MEDIA Protocol.
-via MEDIA Protocol
Swappr is a new way to convert between HAV, nUSD, and ETH through a clean, user-friendly interface, compatible with MetaMask and Trezor hardware wallets. Ledger compatibility is coming soon. The Havven Converter, which was formerly available through the Havven website, has been phased out.
Stronghold is inviting select customers to join its private beta program for Stronghold USD, the venture-backed U.S. dollar token on the Stellar network.
Alchemint is hiring brand-ambassadors (Philosophers) to help with community development and grow with the project. Apply here.
Last week, the Celo team conducted a field research trip in Kenya. The overarching goal was to be able to design products that are relevant, resonant, and delightful with their users. Their big question: “How do we create a product and platform that people love and empowers the 1.7 billion around the world that don’t have access to formal financial services?”
From their research trip in Kenya, to upcoming events, fellowship/job offers, technical updates and team growth. There is a lot to catch-up on Celo.
At launch, Multi-Collateral Dai will include a feature called the Dai Savings Rate (DSR). A person who holds Dai can lock and unlock Dai into a DSR contract at any time. Once locked into the DSR contract, Dai continuously accrues, based on a global system variable called the DSR. Maker Governance will choose a Rates Policy Oracle that has restricted access to modify the DSR in real time within a predefined interval set by governance.
Updates on the Carbon Votes, UX focus groups, upcoming events and job recruitment. Do participate and vote in both Carbon Votes 1 and 2 if you haven’t done so!
In this governance update, DigixDAO introduces some additional mechanisms that have been added in the recent weeks, namely: reputation bonus/penalty for moderators, and flexible timeline for proposal milestones.