The Booming Crypto Use Case That's Happening Right Now
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 6 September 2024
⏱️ 55 minutes
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Summary
Pretty much since the moment that cryptocurrencies came into existence, there's been a chorus of skeptics who argue that they solve no real world use cases, except for gambling and speculation. For a while, there was a lot of hype about things like Web3 or DeFi, but for the most part, these still remain in the realm of pure speculation and gambling. And so, the ultimate use case for crypto remains elusive. Our guest on this episode argues otherwise. He thinks that stablecoins, such as Circle or Paxos, which are backed by actual dollar instruments in regulated institutions running on public blockchains (like Ethereum or Solana) are solving a genuine problem in transmitting money, beyond just speculating on other cryptocurrencies. Austin Campbell is an adjunct professor at Columbia Business School and the founder of Zero Knowledge Consulting. He also comes with a long resume at both crypto and legacy financial institutions. He explains why stablecoins are having a moment and explains the problems they currently solve (particularly internationally) and why legacy payments infrastructure is unlikely to serve the same needs.
Read more:
The Case for Stablecoins Being the New Shadow Banks
How Stablecoins Became a Powerful Force in Crypto
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| 1:05.0 | Podcasts, Radio News. Hello and welcome to another episode of the Odd Lots Podcast. |
| 1:25.0 | I'm Joe Wisenthall. |
| 1:27.0 | And I'm Tracy Allaway. |
| 1:28.0 | Tracy, we're recording this August 6th. |
| 1:30.0 | The coins have been falling. |
| 1:32.0 | The cryptos. That's right, the coins have been falling the cryptos that's right the coins have been falling |
| 1:35.8 | let's see I'm bringing up Bitcoin right now let's see it's down from a little over |
| 1:41.6 | 72,000 and it is now down to 56,000. So fun times in |
| 1:48.9 | crypto land. There's sort of two things we have not not done many crypto episodes. I think we did one. We did one a couple |
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