Skip to comments.Crypto-giants Coinbase & Circle launch dollar-backed USDC stablecoin (GoldmanSachsFed $ replmt)
Posted on 10/23/2018 6:46:47 PM PDT by MarchonDC09122009
Cryptocurrency giants Coinbase & Circle launch dollar-backed USDC 'stablecoins' (Goldman Sachs Fed Reserve NWO Fedcoin)
The CENTRE Consortium, as its being called, will establish standards for listing fiat currencies in a digital form.
The group is aiming at mainstream adoption of cryptocurrencies known as stablecoins, which are backed by a government currency like the dollar.
Goldman Sachs backed Circle and Coinbase, which is reportedly valued at $8 billion, are among the best-known and most well-funded cryptocurrency companies.
A stablecoin known as "USD coin," which Circle says is pegged 1:1 with the U.S. dollar, will be available to buy and sell on Coinbases popular trading exchange as of Tuesday.
Kate Rooney | @Kr00ney
Remember this date.
The USDC 'Stablecoin' is the US dollar replacement, backed by Goldman Sachs, approved by the US Federal Reserve and NY Banking Commission.
The Economist Jan 1988 magazine announced this would occur on October 2018.
See for yourself:
Financial Reset ahead
I want money backed by gold.
My money shall be backed by love.
I love you.
What’s the point, other than allowing Goldman to create their own money? Why not just use dollars?
I guess history does repeat itself. 1913 all over again.
Coinbase and Circle co-found the CENTRE Consortium
Sean Neville and Jeremy AllaireOctober 23, 2018
Circle and Coinbase have co-founded the CENTRE Consortium, a joint venture aimed at establishing a standard for fiat on the internet and providing a governance framework and network for the global, mainstream adoption of fiat stablecoins.
Coinbase and Circle share a common vision of an open global financial system built on crypto rails and blockchain infrastructure, and realizing this vision requires industry leaders to collaborate to build interoperable protocols and standards. CENTRE was formed to establish these standards and to build the technology needed for fiat to work over the open internet.
The first major initiative from CENTRE is USD Coin, a stablecoin technology and network scheme. Circle became the first issuer of USDC just weeks ago and with this announcement, Coinbase is making it available to customers on Coinbase Pro and Coinbase.com. Customers can tokenize dollars into USDC and redeem USDC into dollars through both Circle and Coinbase, making USD Coin the industrys first open, fungible and interoperable fiat stablecoin.
In its first few weeks, USD Coin has already gained broad industry support from more than 40 companies including wallets, exchanges, custodians, dApps and other leading firms who are helping to build a new open global financial system.
Asset-backed stablecoins provide critical infrastructure needed to build an open financial system: A price-stable medium of exchange and a token that can be employed in a wide range of smart contracts and decentralized financial protocols. They hold the promise of interoperable global payments for everyone on the planet and they help unlock the incredible power of smart contracts for tokenizing a wide range of assets and economic arrangements. Were excited to see the ecosystem continue to grow around the USDC standard.
As a membership-based consortium and open standards effort, CENTRE welcomes broad industry participation. In the coming months, CENTRE intends to introduce more issuers onto the network and publish formal membership guidelines as well as details on CENTREs technical roadmap. More details on the CENTRE Consortium can be found on CENTRE.io.
Coming together as industry leaders to help define open standards helps us all build a larger and more vibrant ecosystem that creates network effects for everyone, which will ultimately deliver unparalleled value to people around the world. We are thrilled to found this initiative together and excited to continue collaborating to deliver our shared vision of an open global financial system.
Welcome to Costco.
Money backed by 2 gallon jars of pickles!
And Hillary’s “What Happened” - (what are they marked down to now? LOL)
Could be good for kindling in the fireplace. The smoke from the lies could be toxic, though.
They had better not be considered “too big to fail” in light of this.
[My money shall be backed by love.]
Well, there is the national debt clock.....
“What’s the point you ask”?
Elimination of cash and US Federal Reserve DEBT note.
A stablecoin known as “USD coin,” which Circle says is pegged 1:1 with the U.S. dollar, will be available to buy and sell on Coinbases popular trading exchange as of Tuesday. “
What the hell is the point of that?
*****Asset-backed stablecoins provide critical infrastructure needed to build an open financial system*****
Asset backed? Yea right. Fiat backing fiat. By open financial system you mean every transaction can now be tracked and openly shared with all governments around the world.
I’ll take the pickles over the money any day.
“My money shall be backed by love.
I love you.”
Followed up by “Please ignore the fact that they are a little sticky.”
Okay, that made me laugh out loud.
I love you.
Turn in all your fiat dollars for fiat Stablecoins before time runs out. Don’t get “left behind”.
I love U2...wait no I don’t, they suck ;)
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