@HypeBillion @MycolePawket If the whole world settled on one stablecoin, I'd agree with you. But stablecoins are always going to be tied to jurisdictions and counter-parties too. So it is unlikely one winner will emerge.

@VentureCoinist @HypeBillion @MycolePawket Today, one of the roles of the dollar is acting as an intermediary or bridge between currencies. For that role, its tie to the US jurisdiction is both an advantage and a disadvantage. Better US than a worse jurisdiction, but a pure digital asset is better still.
@VentureCoinist @HypeBillion @MycolePawket Imagine a future (maybe not so far off) where everything is tokenized and you can have your salary agreed in dollars but gold gets delivered to your wallet and you can buy groceries by selling tokenized shares of a REIT.
@VentureCoinist @HypeBillion @MycolePawket In that world, there will need to be concentrations of liquidity. You can't go from gold to shares of an obscure REIT by finding people who want to go those same shares to gold. The liquidity-concentrating asset likely can't be one country's currency. How could that be universal?
@VentureCoinist @HypeBillion @MycolePawket So, sure, if you get paid in dollars and pay your bills in dollars, it may make sense for you to use a dollar-denominated stablecoin for short-term holdings and payments. Absolutely.
@VentureCoinist @HypeBillion @MycolePawket But I can't see a $-denominated stablecoin being your direct connection to the rest of the world economy because it's neither universal nor neutral. For one thing, it will only be used by people who would do business with its counterparty and who find its jurisdiction friendly.
@VentureCoinist @HypeBillion @MycolePawket Medium-sized FIs have been pretty receptive to the argument that they're not going to get everyone else to use a system they control and, given that, surely they would they prefer a system nobody can control to one that's controlled by their largest competitor/adversaries.
@VentureCoinist @HypeBillion @MycolePawket I know this is pretty far out there, and maybe I'm just a bit crazy to suggest this, but maybe some governments will see the wisdom of this same reasoning. If they can't run the system, maybe a system nobody can run is better than one run by their geopolitical adversaries.
@VentureCoinist @HypeBillion @MycolePawket My personal vision for XRP, since 2013 or so, was this idea of deep, open, public pools of liquidity that anyone, anywhere could contribute to and draw off of -- a global market for assets that someone happens to already have exactly where someone else happens to need them to be.

More from Crypto

Lots of people are sleeping on one the biggest things @quant_network is currently involved in-ODAP (Open Digital Asset Protocol).

So what is exactly #ODAP and why this makes $QNT one of the most significant and, regarding #crypto mcap, undervalued projects?

Time for a THREAD⬇️


1/ODAP is the protocol for communication between gateways, primarily with an enterprise focus.
So banks, central banks etc. would run a gateway in Overledger Network and ODAP would be the protocol for gateways to communicate with each other in a secure and trustless manner. $QNT


2/ #ODAP Interfaces are the open source connectors that will connect a gateway to #blockchains and any existing network / API. That is based on the standards from work done at ISO TC 307 which 57 countries are working towards.
$QNT CEO Gilbert Verdian is the founder of TC307.


3/We know from the submitted drafts via #IETF (the Internet Engineering Task Force) $QNT is working on #ODAP with:

✅@MIT

✅@intel

but, there’s more to the story as we found out from Gilbert that US Government, Juniper, payment and telecom companies are also there.


4/So how it all started with #ODAP?
Let’s go back to $QNT CEO Gilbert Verdian’s interview with Santiago Velez on #RealVision (October 14th) and try to put all the pieces of the puzzle together.
I’ll forward his words ⬇️

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