If you are reading this today, you must have heard of the news that Paypal came up with the stable coin. And it was coming. Not just in terms of the competition but also in terms of the fight against decentralized communities. We all know SEC is forcing everyone to reveal the faces.
In short, more and more people are afraid of the decentralized systems as people who scam are using it for their own favor. And that has costed them some level of loss. All the possible exchanges and the tokens would be going the centralized route.
So what are the implications of Paypal stablecoin?
Tether vs PYUSD
We all know that tether has the monopoly in this market because no other stablecoin is being used as the tether.And now that paypal has entered the market, all those govt and the commercial business would be making use of the PYUSD. So expect the damage in this market when there would be more takers for both.
So there is a good chance that paypal would do abit of lobbying. And they would be taking some good measures to ask the users to pay for the bills. And if things work out we are going to be seeing some really good changes with the pricing war in the market as it moves.
PYUSD turning Centralized from Day one
Don't expect this stablecoin to be decentralized community friendly. And another thing is they can freeze your account any time. So not going to be your wallet if it's paypal account.And not going to be your keys. So technically they have the control over your assets and this means it's centralized to the core.
When anyone has power to push your funds down and have them owned under some terms and conditions. We can see that PYUSD is one of those stablecoins that won't be going to be use for most of us. So in short life is going to be pretty difficult in the long term.
PYUSD is just a start, slowly corporate world is going to enter into this. And we are going to be seeing some really worst progress that is about to come in this space where we would be forced to accept centralized.