U.S. payment giant PayPal launches U.S. dollar stablecoin PYUSD. Is it a promising application?
I remember that at the beginning of 2020, PayPal was the first to enter the market and announced digital asset transactions. At the same time, institutions such as Grayscale also entered the market one after another. They were called "institutional bulls" at the time.
The US dollar stable currency issued by PayPal has special significance, which means that the United States is carrying out global dollarization layout through the encryption ecosystem, and is expected to give birth to a super-sovereign currency in the future.
Have you noticed that digital assets are becoming more and more "stigmatized". As early as 2014, there was overwhelming news: computer viruses extorted BTC. Later, when BTC was mentioned, everyone said that I had heard of this thing, and it was not a computer virus. .
In 2016 or 2017, BTC became synonymous with various types of transactions. Until recently, film and television works directly used BTC and ETH as tools for scammers. This stigmatization trend will not stop, but will intensify. In the future Talking about the color change of coins, mentioning coins directly associates with Southeast Asia, black Q, smashing, etc.
To put it bluntly, BTC is just a string of codes. Why is this so? The reason is that BTC is shaking the "seigniorage", and the U.S. dollar is the most typical representative of seigniorage. In early 2020, the Federal Reserve started printing money crazily and dispersed money from helicopters. Everyone had tens of thousands of dollars more in their accounts, and everyone was rich. , who suffers?
Those who sell things suffer a loss, which is equivalent to exchanging a piece of paper for something, and the whole world pays for the inflation of the US dollar. In the same way, you will find that money is becoming less and less valuable. What is the difference between what you can buy with 100 yuan ten years ago and what you can buy with 100 yuan now? The difference is called "seigniorage".
In order to avoid seigniorage, the rich will buy scarce assets such as real estate and alcohol. If you carefully observe the assets that have surged in the past ten years, you will find that their characteristics are small in quantity, unable to be produced quickly, and cannot be frozen in batches.
BTC not only meets the above characteristics, but also has more "dangerous" characteristics such as the globalization of transactions. Therefore, BTC is destined to be incompatible with traditional finance. BTC was born to go to Wall Street.
Until the birth of stablecoins allows the United States to seize the historic opportunity, no matter whether you decentralize or confirm rights on the chain, as long as you can digest the U.S. debt and allow the U.S. dollar to circulate around the world in disguise, BTC and other digital assets will also become global "coins" Tax".
In the past two years, the United States' attitude towards digital assets has undergone a 360-degree turn. From the original rat shit to today's institutions fully entering the game and establishing the "encryption law", they are all preparing for the super-sovereign currency that will follow.
The so-called super-sovereign currency refers to the use of digital assets to bind the US dollar to globalize currencies on the chain. For example, PYUSD is bound to the US dollar and US debt.
Think about it, once PYUSD can be used on social networks for tipping and e-commerce, and on the other hand, it can be exchanged for BTC directly on the chain, what will the future look like?
Would you rather use stablecoins issued by Internet giants, or u? Recently, both Facebook and Musk have submitted patents for digital asset payment, and the era of big applications is coming, which means that super-sovereign currencies will penetrate the U.S. dollar into a wider range.
On the other hand, although the Chinese community has a first-mover advantage, referring to Japan's Mt.gox, as long as BN and OK are tripped up, the Chinese market will completely lose its platform advantage. At the same time, in order to resist the robbery of the US dollar's super-sovereign currency, it is necessary to take measures Stricter digital asset management and control to prevent asset loss.
It is expected that the United States will take comprehensive control of BN this year, and the next one is OK.
It is said that in the past two months, content related to BTC and ETH will be completely cleaned up.
In the future, the market will become more and more niche, even more niche than the US stock market, which is good, right?
