What is money
Types of stablecoins
Why stable coins
Stablecoins are rebranded money
What is money?
- medium of exchange: so one dollar can be used to contribute towards a car or groceries - allows people to obtain what they need to live - INTERMEDIARY INSTRUMENT
- fungible - one unit can be exchanged for another
- unit of account: common denominator to express worth - we all know what USD means
- store of value: theoretically is supposed to hold value over time
- dApps - people will actually use the crypto world for tools vs speculations
what are stablecoins
Utility token (coins are a method of payment, tokens are use cases, have more functionality) -
just know that it is meant to represent $1 USD
they constitute a $128bn industry, having grown almost 500 per cent in size in 12 months.
- Open access to stability and open permissionless system access to borrowing for everyone
- Stability of payments bring web2 user experience to web3