Token Taxonomy Act and IMF on Blockchain Regulation.
I recently posted a video covering some new developments in the area of blockchain-based regulations. In particular, I discussed the Token Taxonomy Act and how it could have a profound effect on the industry.
I also touched on the IMF's Christine Lagarde and her speech at the Fintech Festival in Singapore not to long ago. She advocated heavily for blockchain technology and cryptocurrencies, making it clear that there is a need to embrace new financial technologies.
I hope you enjoy and find it informative!
The emergence of the stablecoin constant.
Last week, BlockHash had the opportunity to attend CES in Las Vegas. The annual technology show that introduces new innovations and developments in the technology industry. In search of new blockchain projects, BlockHash came across a company called Constant, and it's definitely something to be excited about.
Constant is a stablecoin, much like Tether or TrueUSD. The difference is that Constant has physical USD secured in a Trust. This USD is FDIC insured up to $5 million per user, which is something relatively new for a stablecoin (other than the Coinbase stablecoin USDC).
What's more interesting about Constant, is that it's easy to setup and use. When I was talking with the Constant team, I had a deja vu moment from when I was in college. None of my fellow students would accept physical cash for anything. They were all using this new app called Venmo, which is now owned by Paypal.
When I look back at how seamless the transition was for a bunch of millennials, it makes me excited about the prospects of projects like Constant that offer the same solution, except better! Foreign students could use Constant to receive money from their families while in school, you could avoid processing fees, and you would still have the simple option of converting to USD and sending it back to your bank account if so desired.
I see a bright spot for stablecoins like Constant amongst students, who seem to be early adopters for just about everything now-a-days. This bodes well for blockchain tech and its gradually march towards adoption.