Hello!
Probably most of you have already heard about concept of Stable Coin by IBM, Stellar and Stronghold.
Some articles with detailed information you can find here here and here.
Allright, but why I think this is moment of disruption? We've already got USDT and some other coins which are backed up with real dollars.
Yeah that's true. However, who of you trust to USDT and Bitfinex that their deposit of USD is large enough to backup the amount of USDT? How many times has USDT already been target of concerns and accusations?
What about cryptocurrencies? Why financial institutions and commercial companies are still aware of them, why they are not trying to adopt ethereum, bitcoin, litecoin etc... Well, ignoring the performance issue, the most important factor is lack of trust into public protocols and startups.
So what's new with Stronghold, Stellar and IBM? It's definitely IBM and additionally Federal Deposit Insurance Corp.
Why? Because the brand of IBM is introducing the element of trust to blockchain, in fact it doesn't matter if it is IBM or Microsoft, Oracle, Google, Apple... The case is the brand recognition and trust.
In my opinion today we are facing the moment when eyes of governments, banks and big commercial companies will start focusing not only on blockchain but also cryptocurrencies as well. They are slowly starting to realise that they can't fight with crypto-world, they have to adopt instead and the movement from the IBM into cryptocurrency area should be a trigger for all of them to wake up and get under this way.
Yesterday in my first post on Stemmit I wrote that the future of blockchain are hybrid solutions of public and private blockchain protocols, what's important I wasn't aware of this news from IBM and Stronghold but now I know that this was a good feeling.
It's not over and I'll get back to you soon with my next updates!