TECH

Cryptography Giants Announce Joint Venture to Accelerate Adoption of Crypton Coins

If there is something that companies are looking at cryptography is accelerating the adoption of cryptononedas in the market.On Tuesday, Coinbase, one of the largest exchanges of digital currencies, and Circle, the mobile payment platform of Goldman Sachs, announced the launch of the CENTER Consortium joint venture to accelerate the adoption of stable currencies, which are those backed by government currencies such as the US dollar, such as the recently approved Gemini dollar and Paxos Standard.

The new company aims to "establish a web-based standard and provide a governance framework and a network for global and widespread adoption of financial stablecoins," Circle co-founders Jeremy Allaire and Sean Neville said in a statement. press release, and added:

Coinbase and Circle share a common vision of an open global financial system built on cryptographic rails and block chain infrastructure, and realizing this vision requires industry leaders to collaborate to build interoperable protocols and standards.

In May, Circle launched its own stablecoin backed one by one for the US dollar in the Ethereum block chain. USD Coin or USDC was valued at $ 3 billion in its most recent round of financing, according to CNET. In February, Circle acquired Poloniex, one of the most popular Bitcoins buying and selling platforms.

As of today, USDC is now available in Coinbase's digital portfolio, the first time that this platform supports a stable currency. In the coming weeks will also be available in Coinbase Pro, said the platform in a post posted on his blog Tuesday, which noted:We believe that USDC is an important step towards a more open financial system. The advantage of a block-based digital dollar, such as the USDC, is that it is easier to program, ship, use in applications and store locally than traditional US dollars.

The price of Bitcoin has stabilized this year, unlike the increase it presented at the end of 2017, when it reached up to 20,000 dollars. For their part, stablecoins like USDC pretend to be less risky because they are subject to "real" currencies. But it is also not a guarantee, as there are exceptions such as Tehter, whose price fell in October last year below 90 cents after reports that the exchange of cryptones in Hong Kong was insolvent.Circle CEO Jeremy Allaire recently told CNBC that investors will continue to rely on government-backed money, only that he needs to be able to operate with the same blockchain technology. The USDC currency is not intended to replace the US dollar, he said, but is a way to take an existing dollar and make it compatible with the infrastructure of the block chain, which are intended to be faster and more efficient and less expensive than traditional payment methods."If people can exchange value over the internet without paying a toll on payments, it is quite dramatic. It will make the web look like a nice experiment comparatively speaking in 10 to 15 years," Allaire said at the conference. October of Security Token Academy in Manhattan, according to the same media.


H. T.