Circle CEO says at Moneyconf Dublin

Crypto and fintech conference MoneyConf in Dublin, Ireland continues today, June 13th, with Jeremy Allaire, Co-Founder & CEO of Payments Company Circle speaking of an extraordinary “crypto-revolution.” He even went on to say that global society is “at the beginning of tokenization of everything.”

The Circle CEO drew an idea of a tokenized global economy and society, wherein “every form of value storage and public record becomes a crypto-token” that has free-floating market value and can be traded on global digital exchanges.
Just as the early internet distorted data and communications, blockchain is now destined to revolutionize “every aspect of finance” and “reinvent public and civil services in [its] image”:

“Once you have an open global immutable record-keeping system, [a] transaction-processing system and [a] secure computing environment, you can re-conceptualize on a global basis every aspect of finance… corporate and commercial law, the intermediation of contracts, [and] crucially all of the systems we use in [both corporate and civic] decision making.”

With crypto-assets, he said, you can “tokenize your house, car or art,” and set up open global financial associations around any physical property.

The “tokenization of private or public votes in all forms of social governance” would present an unchallengeable system that is more transparent and accountable than existing models.
Allaire stressed on five categories of crypto-assets, starting with privacy-focused cryptocurrencies that take away financial activities from the federal control of governments and give out as “a public good” on the internet.

The Circle CEO then talked about crypto-assets that sustain transaction settlement systems, such as Ripple (XRP) and Stellar (XLM), along with the blockchain-based platforms such as Ethereum (ETH), which he distinguished as “operating systems for the global economy.”

Allaire’s final categories of crypto-assets were fiat-backed stable coins, intended for denominating financial contracts. He highlighted their potential for use cases that need a more stable price baseline but still look for the decentralization and security of blockchain.
Just last month, Circle closed a $110 mln fundraising round guided by mining hardware manufacturer Bitmain to partner on the advancement of a US dollar-backed stable coin. The investment took Circle’s valuation to almost $3 bln, an approximately six-fold boost since 2016.


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