Algorithm Stablecoins - Building The Unstoppable Economy
The government probably didn't take it seriously when we preach that the crypto industry is ever expanding so then, it seamlessly develops, building solutions around real world problems. The battle of Stablecoins started off months back when the SEC began giving much attention to Fiat backed Stablecoins and there, the industry knew they were definitely plotting, which was of no good intentions…
Algorithm Stablecoins - the nightmare the government never expected
Collateralized Stablecoins are prey to governmental control, considering the idea of being backed by Fiat currencies, this gives room for watchdogs to want an oversight on its reserves and full time operations, meaning the network could result in user identity leaks and all sorts of centralized attacks…
That said, the cryptocurrency economy around algorithm Stablecoins is just one force, likely to be unstoppable. When you look at an economy with maybe bitcoin as the reserve currency, with every other crypto asset being priced/traded against BTC, it opens up room to abolish the USD peg. That said, additionally, with algorithm Stablecoins, the need for Fiat backed Stablecoins becomes extinct, being backed by any other cryptocurrency, with its stability being managed through a smart contract that prints and burns tokens based on trading price, the great idea behind decentralized autonomous operation becomes a success…
Decentralizing Banking with crypto
With algorithm Stablecoins already in place, banking becomes more effective in the cryptoverse. Judging from the market demands of sustainability and security, this solution makes the ecosystem more enticing. I believe we're bound to see more inflow of money in coming times, because looking around, crypto is literally drilling into different sectors and building solutions around it. The ever expanding economy will prove sustainable with this mechanism currently non-existing in the fiat economy, the government will watch it happen right before their eyes, and everyone expecting to see it crack down on the industry would likely witness it FOMO in on infrastructures that places it in some sort of crypto friendly zone.
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The stable coin algorithm is definitely going to be a game changer for everyone in the crypto verse.
The way HBD is backed by hive is a very ideal tern to illustrate how the power and potential of stable coin will increase in the future.
It becomes very exciting to watch when you think about it, knowing the government and regulators are just fighting a battle they already lost.
I hear about some entities who blocked peoples account worth over $1 million. That's very sad to hear and the annoying part is that they made it public that they work with government and law enforcement agency.
Can't wait for HBD useo finally be the talk of the town in the future , alot is going on and Stability is going to be a big deal in this space.
Great blog. Hope you're having a great day over there
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Just keep developing around them.
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