Profile picture
Matthew Green @matthew_d_green
, 5 tweets, 1 min read Read on Twitter
The Facebook stablecoin (if it works, scales, gets deployed and adopted by non-Facebook companies, doesn’t get regulated into dust) is going to be a massive game-changer for the financial services industry. Fight me.
Hell, even if Facebook is able to make a credible run at deploying the thing, it will give them huge leverage with their banking relationships. No more closed (to FB) instant networks like Zelle, reduced transaction fees, etc.
Summary of the comments: (1) a bunch of people seem to think asset-backed stablecoins won’t be allowed by regulators, or that people won’t use/trust them. That horse has already bolted.…
Hell, people still use Tether and that’s an obvious mess.
Also (2) people are asking why bother with a public blockchain for a stablecoin, when you could just use a centralized database operated out of FB’s data centers. But no other backed stablecoin does that, and even the people who propose this idea wouldn’t trust it.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Matthew Green
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!