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912

But... Why?

Archive: https://archive.today/tqhBg

From the post:

>Wyoming became the first state in the nation Tuesday to launch its own digital currency, a stable token that is backed by the U.S. dollar and short-term U.S. Treasury bills. Using token issuance partner LayerZero, the Frontier Stable Token will soon be available on the Ethereum, Solana, Avalanche, Polygon, Arbitrum, Optimism and Base blockchain networks. Buyers will get access to the token through Wyoming-based digital asset exchange Kraken in the coming days. The Wyoming Stable Token Commission reported that the blockchain-based stable token offers the means to make “secure, transparent and efficient digital transactions” worldwide.

But... Why? Archive: https://archive.today/tqhBg From the post: >>Wyoming became the first state in the nation Tuesday to launch its own digital currency, a stable token that is backed by the U.S. dollar and short-term U.S. Treasury bills. Using token issuance partner LayerZero, the Frontier Stable Token will soon be available on the Ethereum, Solana, Avalanche, Polygon, Arbitrum, Optimism and Base blockchain networks. Buyers will get access to the token through Wyoming-based digital asset exchange Kraken in the coming days. The Wyoming Stable Token Commission reported that the blockchain-based stable token offers the means to make “secure, transparent and efficient digital transactions” worldwide.

(post is archived)

[–] • 1 pt

I thought Texas was the first to do that? I am looking at it though and it looks like it might not be a Gov thing. I don't know and don't care to look into it that much. lol.

https://texitcoin.org/

[–] • 1 pt (edited )

I see: it's not ok for the federal reserve to do this, but states? No problem.

This will surely end up like Africa trying it. No thanks.

The irony isn't lost on me. A stable coin based on a dollar is like anchoring a boat to a floating log.

[–] • 1 pt

You know what? That is a really good way to describe it. A lot of people just don't get it and see "its a crypto coin, yaya!!!"

I remember reading some article ages ago. It was called something along the lines of "If you think you need a blockchain, you don't".

[–] • 1 pt

The issue is, they're already preparing us for quantum computers breaking encryption. Mostly because they already can. We just don't have access to the hardware.

[–] • 0 pt

It's astounding how distracted people are not seeing basic things... more like disturbing. As a society, we're fucked.

[–] • 1 pt

Boat analogy is fucking perfect.

[–] • 0 pt

I'm glad people here get it without pages of explanation.

[–] • 1 pt

Most here seem to be higher iq.

That I am thankful for.