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Winklevoss: Bright future for Stablecoins and Tokenized Securities

Christopher Attard

Jan 14, 2019

Bitcoin perma-bulls and founders of the cryptocurrency trading platform, Gemini, outlined their belief that stablecoins and tokenised securities will usher in a great future for the digital currency space.

The twins made their assertions during an interview on Fortune’s crypto-focused news segment ‘The Ledger’ on January 14.

This comes as part of a broader and somewhat controversial campaign which attempts to remould crypto’s image with an emphasis on regulation and compliance-driven market practices.

Breaking away from the regulatory conversation, Cameron Winklevoss highlighted the importance of the development of new digital assets like stablecoins and tokenised securities. Noting that much of their focus to date has been on virtual commodities like Bitcoin, he said that compelling use-cases for crypto moving forward are virtual security tokens backed by real assets:

“The ICO mania of 2017 — we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting.”

Tyler pointed out that USD-pegged stablecoins, designed to keep trading less volatile than non-fiat trading pairs – could be used to issue dividends in a prospective STO sector. Cameron added that with at least 60% of $100 bills held overseas (outside the US), dollars on the blockchain could significantly alter the global currency market.

Last September, the twins unveiled their own dollar-backed ERC-20 compatible stablecoin, the Gemini dollar (GUSD).

They argued that less volatile cryptocurrency assets optimise retail payments more so than Bitcoin – in jest referring to the irony of the famous pizza that cost 50,000 BTC back in 2010. At the time of writing, this would be valued at $35.8 million – putting the ROI of pizzas in general into question.

In his view, Cameron believes that Bitcoin should be thought of as a superior form of digital gold, facetiously stating that “the only thing gold has over bitcoin is a 3,000-year head start.”

With the onset of Tether’s controversial standing in recent history, stablecoins have been gaining increased traction in the industry. Jeremy Allaire, co-founder and CEO of Circle, envisions stablecoins as an integral part of an emerging tokenised global economy.

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