One statistic reported by BitPay, the leading crypto processing payment company, caught my attention.

90%+ of all payments processed by BitPay in February 2020 use Bitcoin. About 6–8% use bitcoin cash or ether, and, for all that has been said about stablecoins, in aggregate they are insignificant. And after all, why would they be significant? All this collateral in custody just means one massive single point of failure, usually the bank holding the matching dollars. Why not use the US$ directly in that case, since the single centralised custody negate the decentralised trust-less characteristics of bitcoin? Stablecoins are no better than digital wallets and far less practical. …


Rodrigue Afota

CEO Digital Banking, Ajlan & Bros Holding. Saudi Arabia

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