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“Dafuq is a stablecoin?!?!”

by | Feb 23, 2022 | Office Space | 2 comments

A friend of mine over in PommieBastardLande is currently running a project involving something called stablecoins, which are basically cryptocurrencies pegged to the value of an underlying asset. Her team is trying to figure out whether there is an actual commercial application for stablecoins as a method of paying for everyday regular transactions. This is actually a very interesting and hot topic at the moment. There is a huge amount of attention being paid to the subject by fintechs, crypto-nerds, and payment processing companies, because this technology has real potential to disrupt the entire payments market.

I’m told that the survey will take about 5 minutes or so to complete, and will ask you a series of questions about your level of knowledge of cryptocurrencies in general, and stablecoins in particular, and about your spending habits as well. Your responses will be completely anonymised and deleted after the project is done, which should be in the next couple of weeks.

Most importantly, you could win something like $27 just for answering a bunch of questions. Here is the actual survey link – take a look, fill in the survey, win cash, and potentially learn something along the way. What’s not to like?

As for stablecoins and crypto in general, I’ve got some material planned about this, because the topic is so important that it deserves a lot more attention and education. We are rapidly moving from the point where cryptocurrency is basically a fun hobby for a bunch of maths and comp-sci nerds, to a real and viable alternative to the global banking system. This is something that every freedom-minded individual should pay attention to, because it will change the world – it already is, in fact.

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2 Comments

  1. Jon Puckett

    Hmmm, interesting concept. Perhaps they should consider backing it by gold reserves?

    Reply
    • Didact

      Several such stablecoins already exist – Paxos Gold, Tether Gold, Aurus, etc. Some of them are pegged electronically to gold via algorithmic control of supply and demand. A couple are actually fully redeemable for gold deposits held in vaults around the world. But their circulation is very limited – the biggest stablecoin in the market, by miles, is Tether, pegged to USD.

      Reply

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