04 Nov answer questions
In this individual assignment you will explore stablecoins, which are digital currencies that peg their value to an external reference, typically the U.S. dollar (USD). Please listen to the podcast: How stablecoins became a powerful force in crypto? by Bloomberg.
Podcast: https://podcasts.apple.com/us/podcast/how-stablecoins-became-a-powerful-force-in-crypto/id1056200096?i=1000576628466
You can also consult the paper Stablecoins growth potential and impact in banking
After listening and reading, finish the questions.
1. The podcast summarizes some of the potential uses of stablecoins. Which of these uses do you think have the capability to be the most impactful for the economy?
2. Please discuss the issues around “peg stability”, especially since the recent collapse of TerraUSD (USTLinks to an external site.). What will be your recommendation/s to prevent a similar event? https://www.coindesk.com/learn/the-fall-of-terra-a-timeline-of-the-meteoric-rise-and-crash-of-ust-and-luna/
3. The podcast and paper also refer to the concept of “wholesale stablecoins” and provides as examples JPM Coin Links to an external site.and Visa B2BLinks to an external site., created by JPM and Visa respectively. Who are they targeting and what are the benefits of these new products?
JPM—https://www.jpmorgan.com/onyx/coin-system.htm
Visa B2B— https://usa.visa.com/partner-with-us/payment-technology/visa-b2b-connect.html
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