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A marathon runner knows what it takes to go the distance - much like the stakeholder organizations championing XRP adoption. In my latest blog entry, I describe the latest progress & news ite

Pegged currencies definitely have a use, but they are technically counter-party assets; i.e., they are redeemable by a central authority for a specific value.  USDT serves this purpose on exchanges th

Great read @Hodor Boom! - "XRP was designed for the long-distance race of global commerce and scalability."

45 minutes ago, Hodor said:

A marathon runner knows what it takes to go the distance - much like the stakeholder organizations championing XRP adoption.

In my latest blog entry, I describe the latest progress & news items in the XRP ecosystem, including a new Canadian exchange listing, my perspective on the AMA with David Schwartz and Asheesh Birla, and news about XRP Community developments.  :victory:

I hope you enjoy this latest article: Feel free to share my blog with a friend - or on any other social media platform or venue - and thank you for doing so!  :thank_you2:

 

Great article as always! Under “Codius Smart Contract,” second paragraph, there are two misspelled words. Just trying to help. ?

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1 hour ago, Hodor said:

A marathon runner knows what it takes to go the distance - much like the stakeholder organizations championing XRP adoption.

In my latest blog entry, I describe the latest progress & news items in the XRP ecosystem, including a new Canadian exchange listing, my perspective on the AMA with David Schwartz and Asheesh Birla, and news about XRP Community developments.  :victory:

I hope you enjoy this latest article: Feel free to share my blog with a friend - or on any other social media platform or venue - and thank you for doing so!  :thank_you2:

 

Very nice read as usual @Hodor. Just wondering what your take on this new FDIC backed "stablecoin/USD Anchor" that Stronghold has developed. I believe they are partnering with IBM/Stellar. Seems to be akin to a ICO-like token used to settle transactions on the Stellar network. I guess I don't see the purpose of such-said coin if XLMs are supposedly doing the same thing. It seems like they are creating competition for themselves???

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1 hour ago, Deeznutz said:

Great article as always! Under “Codius Smart Contract,” second paragraph, there are two misspelled words. Just trying to help. ?

This got to me through Reddit first - but I appreciate your note as well!  Letter transpositions are my nemesis. 

Fixed & re-posted; thanks for the positive feedback! 

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15 minutes ago, King34Maine said:

Very nice read as usual @Hodor. Just wondering what your take on this new FDIC backed "stablecoin/USD Anchor" that Stronghold has developed. I believe they are partnering with IBM/Stellar. Seems to be akin to a ICO-like token used to settle transactions on the Stellar network. I guess I don't see the purpose of such-said coin if XLMs are supposedly doing the same thing. It seems like they are creating competition for themselves???

Pegged currencies definitely have a use, but they are technically counter-party assets; i.e., they are redeemable by a central authority for a specific value.  USDT serves this purpose on exchanges that don't want to deal with fiat directly, or for traders that would like the idea of a crypto that is pegged to a dollar.  Either way, USDT - and it's cousins - are counter-party assets.  The same is true of USD and BTC tokens on the XRP Ledger - these are issued by exchanges that have pledged to redeem them for the issued amount of USD or Bitcoin. 

Also, when you say "FDIC-backed" it leaves the impression that the FDIC has something to do with IBM and Stellar.  They literally have nothing to do with this project.  The idea is that they will link bank accounts to crypto accounts.  This, again, is something that IBM is copying from other exchanges.  The original concept of using bank accounts linked to crypt accounts was already in place in South Korea, and now in the Canadian exchange NDAX. 

For whatever reason, the Coindesk article is trying to conflate the fact that "all US bank accounts are insured by the FDIC" into "FDIC-backed coin" which is, of course, absolute nonsense. 

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