Jeremy Allaire, Co-Founder & CEO of payments company Circle spoke this morning of an unprecedented "Crypto-revolution," saying that global society is "At the beginning of a tokenization of everything."
"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 decision making."
The CEO outlined a vision of a tokenized global economy and society, in which "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.
With crypto-assets, he said, you can "Tokenize your house, car or art," and establish open global financial relationships around any physical property.
The "Tokenization of private or public votes in all forms of social governance" would offer an immutable system that is more transparent and accountable than current models.
Allaire outlined five categories of crypto-assets, beginning with privacy-focused cryptocurrencies that remove financial activities from the centralized control of governments and serve as "a public good" on the internet.
"He then addressed crypto-assets that support transaction settlement systems, such as Ripple and Stellar, as well as very ambitious" blockchain-based platforms such as Ethereum, which he characterized as "Operating systems for the global economy."
Allaire's last category of crypto-assets were fiat-backed stable coins, designed for denominating financial contracts.
Just last month, Circle closed a $110 mln fundraising round led by mining hardware manufacturer Bitmain to partner on the development of a US dollar-backed stable coin.
Circle's USDC will be an ERC-20 token based on the Ethereum network, and will reportedly be released by Circle in the summer.
Circle CEO at MoneyConf Dublin: 'We Are at the Beginning of Tokenization of Everything'
Published on Jun 13, 2018
by Cointele | Published on Coinage
China's Latest Government-Backed Crypto Rankings Put EOS 1st, BTC 17th
The second round of China's state-backed monthly ratings of cryptocurrencies and blockchain projects has been released, Cena News reported June 21.
Mike Butcher of TechCrunch: It Is up to the Industry to Get Its Own House in Order
Mike Butcher, an editor-at-large of TechCrunch is a pioneer of the tech and journalism industries.
Paris Hilton's Father to Auction $38 Million Roman Mansion Through Cryptocurrency
Paris Hilton's father, Rick Hilton, chairman of Hilton and Hyland and the family namesake of the Hilton Hotels is selling a $38 million Roman mansion through a cryptocurrency auction.
Overwinter Ahead: What Should Happen When Zcash's First Hard Fork Hits
Privacy-oriented cryptocurrency zcash is about to undergo its first-ever hard fork.