Circle CEO Urges On-Shore Stablecoin Development for the Future of Finance
Resharing Circle's video ad tweet, Jeremy Allaire, the CEO of Circle, emphasized the critical need to accelerate the progress of the digital dollar and Stablecoin development. His message highlights that this advancement is essential for maintaining the strength of the US dollar.
Initially posted in July, Jeremy Allaire was featured in the two-minute video released by Circle aimed at the Congress to safeguard stablecoins and foster confidence in digital dollars.
In the video, Allaire, a prominent figure in the cryptocurrency world, is depicted in a relatable setting—an ordinary American diner sipping on a cup of coffee. This seemingly simple scene sets the stage for a thought-provoking message.
Allaire poses a question that sparks curiosity: "What does a cup of coffee have to do with the future of the global economy?"
As the video unfolds, Allaire delves into an exploration of how cryptocurrency holds the potential to revolutionize the way we conduct transactions. He illustrates this by highlighting crypto's capacity to reshape payment methods for everyday purchases like coffee and more complex transactions like shipping containers and everything in between.
He also tweeted, "Let's eliminate the toll takers. 4% fees to receive a payment, or 3-4% fees and FX to move money worldwide isn't a great business model in the next decade."
The narrative takes an intriguing turn as Allaire points out a significant incongruity: while technology hurtles forward at an astounding pace, one element seems to lag—the concept of traditional money.
Specifically, Allaire singles out the US dollar as an example. He discussed the escalating competition for allocating funds on the Internet. He highlighted that this competition is becoming more
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