3 ms·
Maybe a dumb question but what’s the point of a fiat backed coin? Is it a faster Venmo?
by ghiculescu 3y ago
Maybe a dumb question but what’s the point of a fiat backed coin? Is it a faster Venmo?
- simple-thoughts 3y agoIt’s programmable, meaning you can use it for smart contracts. A common smart contract use case is dex smart contracts that let you swap between other cryptos and usd without any counterparty risk.
- MagicMoonlight 3y agoYou can also program money. What do you think paypal is?
- simple-thoughts 3y agoPayPal is a closed ecosystem that doesn’t support smart contracts or any other form of arbitrary code execution. If your point is that traditional finance uses code, sure, but that disguises the real differences between those systems and web3.