Dear Steemitians
we are facing in a very wide bear period for cryptocurrencies, but this have a big reason and i will let you know why...
Last Tuesday Jeremy Allaire, the CEO of "Circle", the platform for digital currencies financed by Goldman-Sachs, revealed a project that if it will be realized will be a point of no return for US dominance in this market and the fact that the news comes from the CEO of Circle (so indirectly from Goldman-Sachs) shakes his wrists, as it is ambitious and lucidly strategic.
Tuesday's announcement reveals that Circle has just raised $ 110 million from Bitmain and other prominent partners to fund a project that will use the "Center" software as a tool to build a simple, yet decisive piece for controlling digital currencies .
This is the creation of a crypt completely linked to the value of the dollar with a 1: 1 exchange rate.
In practice, Circle wants to create a "Theter" that is not a scam, but really has a "peg" universally accepted, verified and shared with the dollar.
No wonder that such a disruptive project was funded by the co-CEO of Bitmain, that Jihan Wu who has never concealed his desire to create a serious alternative to the global banking system.
This "stablecoin" universal fixed to the dollar that avoids once and for all those continuous coming and going from fiat currency to cryptocurrencies would in fact be the lever of Archimedes that blows the whole system freeing investors from subjection to the fiat currency.
Think what would happen if this "stablecoin" were introduced into Cricle, Poloniex and other elements of the parallel financial system that Circle (ie Goldman-Sachs) is creating to dominate the entire crypto market.
But the design of Circle / Goldman-Sachs is not to create a closed system that investors should necessarily refer to in order to gain "freedom" from the fiat currency.
On the contrary, this "stablecoin" will be an "open source" system that all the exchanges and regulated platforms will be able to use.
Circle but '(ie Goldman-Sachs) will be the only official holder of this coin and all others will have to receive an authorization to use it.
In this way, Goldman-Sachs is creating the basis for becoming a fiat (digital) currency issuer with a power similar to that of a central bank ...
Everyone can use the dollar, but only the Federal Reserve is authorized to issue this currency.
Likewise, everyone will be able to use Circle's stablecoin, but only Circle will give the necessary permissions to do so ...
Also create this parallel financial system spread with as many actors and users as possible, provided that Goldman-Sachs keeps it firmly in hand ...
I do not see a more simple and elegant way to take possession of an entire economic system.
Many times (especially here) we have compared the differences with which Europe and the USA are proceeding in the development of the blockchain and the related economic system of cryptocurrencies.
United States, despite the ineptitude of their regulatory bodies, would have been able to make the system much more quickly than the Europeans, who also have now paved the way from the legal point of view.