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:
https://socioecohistory.files.wordpress.com/2014/07/theeconomist-phoenix_get_ready_for_world_currency_by_2018.jpg
Financial Reset ahead
I want money backed by gold.
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.
https://blog.circle.com/2018/10/23/coinbase-and-circle-co-found-the-centre-consortium/
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 industry’s 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. We’re 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 CENTRE’s 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.
They had better not be considered “too big to fail” in light of this.
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 Coinbase’s popular trading exchange as of Tuesday. “
What the hell is the point of that?
Turn in all your fiat dollars for fiat Stablecoins before time runs out. Don’t get “left behind”.
Give this 10 years to grow and infiltrate economics then say goodbye to cash. Then you will be tracked and recorded every penny you make and spend. All you need then is a mark on the back of your hand, hmmm sounds familiar.
Fiat backed by fiat. Blatant attempt by central banks to create their own crypto in hopes to skew the crypto markets.
is a transfer, peer-to-peer,
or is goldmansacks involved?
I heard that gold is backed by gold
why not just buy real dollars instead and stuff them in your mattress instead of buying these fake 1:1 crypto dollar-backed thingies?
You guys are missing the point by concentrating on the US. That isn’t what this is aimed at. This is to give people in countries with less stable currencies a chance to ditch their Bolivian or Angolan or Turkmenistani bills and do business in dollars, right down to taxi rides and burgers (or whatever the fast food is there). This is much like those countries which use US dollars now, or those that use French francs or pounds sterling, except without the paper currency.
In addition to adding stability to consumers in those places, it will undermine those countries with even worse budget habits than the US, forcing them to be more responsible. It also will make huge profits for the US banks doing it, at least until the foreign governments figure out how to shut it down.
The whole point of Crypto was to cut out the banks.
.
I thought the point of having a "crypto currency" was to keep Goldman Sachs out of it.
for later
THOUGHT THE IDEA OF crypto WAS TO ABANDON THE DOLLAR...
A WORTHLESS PIECE OF PAPER...
aside from the Rotschilds making billions....why do we need the FED...???
we dont...
think about it
the Fed controls interest rates... and thus the ECONOMY...
plus it is POLITICAL... and controlled by foreign interests
who do not have American interests as a priority...