The future of Money is built on Hashgraph, not Blockchain. Here’s why:
From private stablecoins to CBDCs, why Hashgraph will power them both
Money has three fundamental components that make it what it is. It’s a medium of exchange, store of value and unit of account.
From European banking dynasties such as the Rothschild family to the world of PayPal, Neo-Banks (Revolut,N24, etc.), money has been redefined many times.
Today, inter-bank settlements are already digital. The introduction of wholesale CBDCs (not retail CBDCs) can help the global economy avoid the next banking crisis by keeping immutable public records of the banking system, whilst driving efficiency and cost reduction for the sector.
These wholesale CBDCs are different from retail oriented CBDCs that carry a lot of multi faceted concerns from multiple stakeholders.
When it comes to the future of retail money, privately issued stablecoins seem to be a promising solution
However…
Blockchain is just not good enough
The consumers have been fed with Blockchain as the most prominent distributed ledger technology (DLT).
The marketing wings of the industry have been making Blockchain look like the future skeleton of money.
Yet, blockchain technology has some key constraints that other DLTs such as DAGs (Directed Acyclic Graphs) and their more advanced version, Hashgraph technology, do not have.
The reality of Blockchain is that it’s extremely inefficient compared to other forms of DLT.
Here’s a list of a few metrics that illustrate why the White House, central banks and private banks are embracing Hedera Hashgraph’s technology over Blockchain:
1.000 times greener than Visa Transactions
970.000.000 times greener than Blockchain Transactions
Tiny transaction fees (0.001$)
Infinite Transactions per Second with shards
… The list is longer, but in this article we will dive deeper into one key differentiator of the Hashgraph, which is its stablecoin studio.
The medium is the message: The Era of Branded Money powered by Hashgraph
Traditionally, we have been used to the fungible nature of money. We can exchange it for other currencies but with the new era of privately issued stablecoins, entirely new facets are added to the nature of money.
1 Snoop Dogg US Dollar = 1 US Dollar + added utility
In the future, any brand, influencer, artists or superstar will be able to print their own branded money. Both physically and digitally. This type of personalised money can always be exchanged back into normal currency but can also create extra utility such as discounts, rewards and much more.
However, there must be some clear transparent elements in place in order to make that become a reality. Hedera Hashgraph just introduced these elements.
Proof of reserves, AML/KYC embedded into the architecture of stablecoins
Hedera Hashgraph is the only technology that has a stablecoin layer built on top of it, specifically designed for issuance of compliant stablecoins by anyone.
These stablecoins have full proof of reserve, making disastrous failures such as the Terra Luna collapse impossible.
Stablecoin Studio is an open-source SDK that simplifies the process of issuing stablecoins using Hedera network services. As an all-in-one toolkit, Stablecoin Studio enables stablecoin issuers to easily deploy applications and oversee operations via a comprehensive management toolkit, allowing for streamlined digital asset operations.
With integrated KYC/AML, Hedera makes stablecoins be more compliant than any other form of money.
The future of money has just been unleashed and the first brands who leverage stablecoin studio will be the big winners.
Here is an in depth webinar showcasing the technology: https://m.youtube.com/watch?v=LO24neeyGpU
More information can be found here: https://hedera.com/stablecoin-studio
Do you want to learn more about this technology? Shoot me an email at shayan.salehis@gmail.com
- DISCLOSURE: The author of this article is a long term investor of HBAR.
