USDForward A new attempt to try to survive from the banks.

avatar

imagen.png

Hello everyone...

When I started my day commenting content on LeoFinance, I came across an excellent post from @dragosroua about the differences of web 2.0 and web 3.0, in a few words dragosroua mentioned that they cannot try to improve a centralized system like twitter, as it is destined to die with the new web 3.0 social networks like Hive.

Now, why did I mention this post by dragosroua. Well because the same thing they are trying to do with twitter, by wanting to move a system destined to die, the same thing they are doing with the centralized banking system. Since some of the largest banks in the United States backed by the Federal Deposit Insurance Corporation (FDIC) have joined together to launch a banking stablecoin called USDForward.

This banking partnership consists of banks such as Synovus Bank, New York Community Bank, FirstBank and Sterling National Bank. This new product is based on the Provenance blockchain and is of course under the regulation of the country's standards. The intended use of the USDF will be peer-to-peer and business-to-business money transfers, in addition to other common customer-to-customer uses such as bill payments and supply chain financing.

This is being done by the banks now, as the stablecoin market is one of the most valuable in the industry, since it is worth over $170,000 billion and the banks or the traditional system also want a piece of that economy. And since for some time the regulators have been constantly after cryptocurrencies, especially stablecoins, the fact that they launch a stablecoin that they can manage at will gives them a certain power that they have lost.

But if so far the existing cryptocurrencies have worked very well, and many people have moved away from the traditional banking system, do you think they would go back to a system that deceives them and is totally centralized?

Posted Using LeoFinance Beta



0
0
0.000
0 comments